← The Money Mondays
The Money Mondays
What Does It Take to Become a Real Estate Investor in 2025? w/ Albert Preciado 🏘️ EP105
00:38:56
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- [00:00]
A
You can't force everybody to be successful. There's 8 billion people in the world. Not everybody wants to be like a billionaire. Like, some people are happy just being average. Most people are.
- [00:19]
B
Ladies and gentlemen, welcome to a special edition of the Money Mondays podcast. As you guys know, 99% of the episodes are filmed inside of an RV motorhome. We have done 106 episodes. 103 of them have been RV motorhome. But Albert Preciado said, swing by the penthouse office here on Sunset Boulevard and I will set up the Money Mondays for you. So here we are, making a special exception for my dear friend over here, Mr. Albert Preciado. So as you guys know, the way it works is we cover three core how to make money, how to invest money, and how to give it away to charity. So we're gonna go through, how did Albert build up a real estate company, mortgage company, sales company, training company, all these things up inside this penthouse over the last, what, 5, 6, 7, 8, 9, 10 years now?
- [01:02]
A
I mean it's really been 20 years.
- [01:05]
B
20 years in the game years.
- [01:06]
A
But as a business owner, 13 years.
- [01:08]
B
13 years. All right, so we're going to do is, this is very important. We are going to break the mold of what you grew up with, thinking that it's rude to talk about money. I think it's rude to not talk about it. And I've watched Albert breakthrough and tell people about why it's important to have money, why it's important to make money, why it's important to build up wealth inside of their society, inside of their households, et cetera. And so we're going to go into those type of questions. But first, Albert Preciado, give him the quick 2 minute bio. So we get straight to the money.
- [01:36]
A
You know, just a Mexican American kid, first generation. I came here, my parents made me in Mexico, across the border for a better future. Had me here. I was born here. I didn't speak English till I was seven. And former ESL student, special ed student, college dropout. Nobody gave me a shot to do anything in life. And then I just dropped out of college, got into sales. In mortgages, I was selling mortgages. And then 13 years ago, I started my mortgage company. And then I made my first millions selling mortgages, real estate. And then, then I got into the whole social media, started my personal brand. And because of that, in 2021, I made 30 million in revenue for the first time. And ever since then, I've never looked back.
- [02:20]
B
Nice. All right. On the make money side, of the topics, how do mortgage loan officers, real estate, how do they make money?
- [02:30]
A
So when you sell a mortgage, you make two and a half percent commission on the, on the. More on the mortgage, on the mortgage amount. So like if you sell a mortgage that's 500,000, you make two and a half percent of that. Just like real estate. If you sell a $500,000 home, then you make two and a half, 2%, 3%. But it's very similar. You're just selling mortgages or you're selling the house. But we decided to start a real estate company. That way we can double end the commission we get paid on the mortgage and the real estate, which led to opening up the escrow company where now we make a commission on the real estate, on the mortgage and on the escrow. And I'll tell you something, escrow makes a lot of money. Like sometimes you get like $60,000 commissions on escrow.
- [03:18]
B
What?
- [03:19]
A
Yeah. And so that's why I have that business. But that's the business that made me 30 million. 20, 21. And that's how I made my money. Like, that's when I was 20, 20 years old, I made $260,000 selling mortgages. And then I lost it all in 2008. But after that and learning from you and other mentors, I realized that it was very important to create your personal brand and then to create your brand like just your company brand, which is just bigger than your personal brand. I'll tell you why. Because like Driven is. It became a big brand now. So, like, people want to be there. People want to speak for free. People want to pay me a lot of money to speak. I get a lot of favors from people. People want to be my friends. I have billionaire friends. I told you. One of my best friends in the world, Neil Patel, he'll see this. You know, he's, he's really successful and we're always hanging out. I learned a lot from him. But it's opened so many doors by just building your personal brand that I told you, I'm so excited right now. Like, I'm making more money than ever. I can't even, like, I'm making more money than ever. I'm really happy. I have my kids, my wife. I have everything in life. There's nothing that I don't have. And Driven is going to become the next virgin. Yeah.
- [04:49]
B
So what's the dates for Driven? Driven, number nine, right?
- [04:51]
A
March. Yeah, my birthday. So March 29th. I, I came up with that date because it's my Birthday. And I can ask a lot of powerful speakers to speak for free because I tell them, hey, it's my birthday. The best birthday gift you could give me, Ed Mylett, is come, come, come to my event. And, and it's my birthday. It's gonna be the best birthday gift. So, you know, I've been, I've been doing that, and it's gonna be the birthday.
- [05:15]
B
Who are some of the speakers you already have for German 9? Coming up.
- [05:18]
A
I'm very excited about Mark Shapiro. Mark Shapiro, he owns a bunch of multi units. He. I know all the, all the stuff. I know the numbers of how many units he owns. I, I know what he has. I know his net worth, but I'm not gonna reveal that. You know, he's a very private person. I respect him, but I'll just tell you that he's like, if you guys think Grant Cardone is big, like, Mark Shapiro is big. And, and so we have Mark Shapiro, we have Daniel G. We have Eric Spofford, he sold his company for 115 million. We have Dan Fleishman. You know, we have a lot of heavy hitters. I'm about to announce a professional hall of Famer, NFL player.
- [05:57]
B
Nice.
- [05:59]
A
I think Mario Lopez, saved by the bell.
- [06:01]
B
Heck yeah.
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A
Josh Altman, the number one realtor in the U.S. it's a serious lineup. I can go on and on. Natasha Graciano, I don't want to miss anybody. But Bradley, you know, Bradley, one of my best friends too, but the real Bradley. Yeah, the real Bradley.
- [06:15]
B
What's the website? Where can people go?
- [06:17]
A
Driven event.com. it's the ninth year, the ninth year of the Driven event.
- [06:22]
B
Why do you think that when a lot of other events are struggling to get three or four hundred people, how do you keep getting 2,000, 3,000, 2,000, 3,000,.
- [06:31]
A
It's the brand that I, that I built. And now people, like, see the credibility, the track record. So now they, they. It's like I don't even announce any speakers. I just, I don't even announce dates or nothing. And we just sell out like a year in advance. And, and now what's made the biggest difference is that we build a sales force. So we have 40 people for 40 salespeople. Work. 40, 40, like, like we have like 10amazing, 10 remote and like 30 in house. But we have the science to it. So everything in life has a science to it. Mortgages, real estate, escrows, events, you're the master of that. But sales, like, I'm very good in sales. And relationships and vision. Like, I'm a visionary, seals very good at operations. My wife, she operates everything. So sales, there's a science. Like, you have people that are appointment setters. You know, they're. They're not skilled enough to close because they could burn the lead. We have closers that specialize in closing deals that are. So there are solid. So the sellers have to get them solid leads to close. We have to people that take over. We have a. Spiffs. You know, when, when, like for example, right now, I told the guys, me and Casey told the guys, hey, you know what? If you do this, you'll get this amount of cash. My, my sales people, even if you offer them a million dollars, they wouldn't leave me because the culture that we have here is second to none. And then our people, they work Saturdays, Sundays, and we. And holidays, and they'll work here till 10, 11pm midnight sometimes. Sometimes they sleep here because they just, they're closing deals and they fall asleep.
- [08:21]
B
So what makes a good sales rep and an okay sales rep and a bad sales rep?
- [08:25]
A
You need a lot of training. You need a lot of training. Give a shout out to Casey, who's right there. Like, he, he came here and he, he just, he changed. He. He changed a lot of lives. You know, he. He just like I changed his life. He changed our life.
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B
I saw the scoreboard out there. There's a lot of. We have eighty thousand, fifty thousand, a hundred thousand.
- [08:47]
A
Yeah, we have our scoreboard. But. But he's here. His responsibility is, is like I tell them, hey, you know, you're only 24. Like, I have the experience. Just be coachable. Always stay humble to learn more. There's always going to be somebody doing more, of course. And you got to remain humble to be disciplined and be a student because you want to get better. I made all the mistakes. I don't want you to make the same mistakes.
- [09:08]
B
You know what's interesting is the wealthiest guys I've ever met, all they do is ask questions. Yeah, they want to learn. You talk about Ed Mylett, the guy's worth $700 million, whatever that is. Like, he asks a lot of questions because think about if he learns one little thing and it increases his business by 1%. Well, 1% of 700 million is $7 million. You know, like, and like, I seen so many of these billionaires and zillionaires and like, watching them interact at dinners, and they're asking, what do you do? How do you do that? Why do you do that? Why do you do it that way. How do you do the structure it? Who does that for you? Why do they do that? Because that one little tidbit, if you're doing 50 million, 10 million, 100 million, whatever.
- [09:44]
A
Yeah.
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B
It changes everything.
- [09:45]
A
Yeah, but, but practice and, and just the systems. Like every day at 7:30am Casey has to be here by 7:30 p. In the morning. They have their sales meeting in the morning that sets up the mood. And if you, if you have a crappy meeting, you're gonna have a crappy production day. But Ed, my let, dude, I'm about to make a big announcement with edamaylette. Like, I, I love it. My lead edit mylet always tells me that, that I'm the person that reminds him more about him than anybody else in the world. He connected me with Marshall Falk. So like, and he sends me like these long voice notes and we're always talking. But, but Ed, my lead has been huge in my success and he is a huge mentor and somebody I respect a lot.
- [10:27]
B
So similar question about the sales reps. What makes a good mortgage loan officer versus an okay one versus one that's not gonna make any money.
- [10:36]
A
You have to be. Well, you need five things. I don't know if I'll remember the five things, but in today's, like right now for mortgages, it's the worst, darkest times. We're going through a crisis. It's worse than 2008. We are in a major recession, especially for mortgages. So a lot of them quit, a lot of them died. A lot of them, they're just, they're, they're out. The 1 percenters are doing good. But what do you need to be to separate yourself in mortgages? Five things. Number one, you have to have a strong mindset. Because I'm sure, like, like you're used to it. Like, you know that every, every day you have like a plan for the next day and you're like, I'm gonna do this, this, this. Everything's lined up. You have your calendar and, and something goes wrong in the morning every time it throws off everything. And then you have to figure out how to fix it. So when you have a strong mindset, nothing tickles you. You just know, I'm gonna handle it. So you need a strong mindset because mortgages are tough right now. You need to be a genius marketer. So what I mean by that is you got to be on social media, you got to be posting stories, you got to know how to market, how to be a marketer. And you got to know how to use social media. If you're not on social media and you don't have a strong mindset, you're gonna fail in mortgages. Number three, you got to be a top closer, a salesperson. You got to master sales. If you suck in sales, you're gonna. You're gonna. You have no chance in mortgages. So mindset, marketing, sales. Now, number four, you gotta be an expert in your field. So you gotta be an expert mortgage person. You gotta understand all the guidelines. You got to know your shit. You gotta know every single thing. So that's number four. Number the fifth thing to complete it is you gotta have extreme work ethic. If you're not willing to work 18 hours a day right now, seven times a week. And mortgages, and this is both for mortgages and real estate, you're not gonna make it. And. And for me, dude, I enjoy it. Like. Like where, like today I text in the morning out of nowhere. I'm just like, hey, what's up, dan?
- [12:34]
B
Like, it's 5:20 in the morning. Yeah.
- [12:35]
A
I wake up, like, today I woke up, like, at 3. I always wake up 3, 4, 3, 4. And, like, Kayla knows this. Like, I wake up and I'm like, on my DMs. Like, I'm like, I don't even have to do that. Like, I don't. I don't need to. I have people that do that for me. But I. I get up and I'll spend like an hour just DMing people back. Bam, bam, bam, bam, bam, bam. And then, like, around. And then I'm texting them and I'm telling them, because Kayla and Casey, they're. They're. They're together. They're a couple. They're. They're one of our favorite couples in the world. And Kayla. Kayla is like. Like, I. I'm texting him in the morning. So then when I'm done, I'm like, hey, Kayla, it's all yours. You take over my DMs. I'm done. I just. Because I like to look through my stories, and I'm looking at the viewers because people that are viewing your stories every day, they're interested. Like, they're. They're like, they're big followers. It's like, if. If I was single and I would go through my story, my story, viewers, dude, I would. I would. I would get a. It's so easy now to, like, hook up. You know? Like, before, it was hard. But social media has changed the world for a lot of things. So Like, I'll go through my viewers and I'm looking for customers, future customers. I'm looking. So then after, when I'm done, I'll be like, hey, Kayla, it's all yours. So she takes over. Special delivery for you.
- [13:54]
B
Thank you.
- [13:54]
A
Vodka and oranges.
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B
So on the investing side, why do you invest so much into yourself, into your personal brand? Does it have a return or is it to build? What is it for?
- [14:05]
A
Best advice I'll give anybody here, especially young men. Young men, I tell them, stay away from women, alcohol, and drugs. But the best advice I'll give besides that is mentors. Hire mentors. Pay people $10,000, $20,000, $50,000, $100,000. And the second best advice is use credit cards. Like, just swipe your credit card. Pay for a mentorship. One on one is the best way of learning. I paid 11 years ago, grant Cardone and Patrick, but David, I paid him a lot of money for one on one. And that changed my life. Because of that, I started my own mortgage company. And then that just once you become an entrepreneur, you can't go back.
- [14:54]
B
So as you're building the personal brand, you're getting bombarded with deals. How do you choose what you work on and what you focus on?
- [15:03]
A
I don't do a lot of things because the day everybody has the same time. So if I have, let's just say I have 13 businesses, but I have one business that makes me 80k a day. I'm gonna focus my main energy on that business and all the other businesses. I'm gonna spend 5%, 3% of my time. Same thing with people, same thing with family members. If they don't give me any value, if they're not contributing to my 80k a day, I'm not going to spend time with them because life is too short. I see people that are aging now and you know, I want to live the best life when I'm young. I want to be with my kids when I'm young. I want my parents to see major success for me when they're alive. My parents are getting older. They're not in the best health condition. They're 75 years old. So time, you never get it back. It's, it's easy to make money and you could always make more money, but you can never get time back. So I'm gonna focus on 80k a day. 80k a day, because $30 million a year equals to 80k a day. And that's my limit. That's my minimum. Yeah.
- [16:20]
B
So people get Very distracted by shiny objects. You know, they're, they're seeing social media, they're seeing people with Lamborghinis and Ferraris and mansions and things. But they're 19, 20, 21, 22, 23, 25, just getting started in the game. How can they learn first before trying to just jump right to the Ferraris and Lamborghinis?
- [16:40]
A
Well, I have a lot of, a lot of young, I call them kids, but they're young adults. They're like 18, 19, 20, 21, 24 year olds. And they always, they, they come from like, a lot of them come from bad mentors and leaders and they're just bad because they don't, they don't, they don't have the intelligence and knowledge, the experience. They just don't have it. So they ask me, hey, should I get a car? Should I get this? Exotic, should I get this? They want to get like things over their means. And me with my experience being 41, going through a lot of stuff. I mean, you see me, I'm very transparent. I tell you, like, hey, I'm broke, my credit's fucked up, I made mistakes, I can't pay this, I can't pay that, I have to pay it later. Things happen, but an entrepreneur figures them out. So I tell, I tell you, I tell my guys, my girls, hey, it's not time for a car yet. It's not time for, don't, don't get this, you know, live below your means, save money, invest it, stack it. It's not time yet. Let's focus on making money. Let's make a million dollars first. Let's have at least half a million dollars in the bank and then you could go get your car.
- [18:02]
B
Why do you think so many people get stuck in just kind of existing and not trying to accelerate their life and try to make more money?
- [18:11]
A
I think the 1 percenters are the 1 percenters for a reason. And you can't force everybody to be successful. Like there's 8 billion people in the world. Not everybody wants to be like a billionaire. Like some people are happy just being average. Most people are. So one thing that I'm very proud of is that we kind of force people to be successful. So we're calling people. You know, we have 40 people and every person, every salesperson makes a hundred calls. So we're dialing 4,000 times a day and they're getting better. So we're high pressure salespeople. So we, the way we look at it is we're going to change their lives. It would be unethical if we don't close them. Because we're going to close them and they're going to change their lives. Like there's people here that we've closed high pressure sell into them, giving us their last $10,000 and now they're making $20,000 in one month. And this is, I'm talking about their first month, second month. So like people are just average.
- [19:22]
B
I have the saying, if you truly believe in what you're selling, it's rude of you not to sell it.
- [19:27]
A
Exactly. Yeah.
- [19:29]
B
If you think you're gonna change someone's life, you should stay here till midnight.
- [19:32]
A
I've always thought like that. But before it was like girls, I thought it would be unethical if I don't close her a thousand later. Yeah.
- [19:40]
B
So why do you think it's in our society, the last, I mean all of it until recently and maybe even in some households still recently. Why do you think it's rude to talk about money? Why do you think people have that in their mind? That's the biggest, the biggest reason I started this a couple years ago was to take that away from people's head. Because our daily lives have money involved for bills, food, travel, gasoline, rent, everything is money related. I don't see what's rude about talking about real life stuff. There's nothing rude about it.
- [20:10]
A
Yeah, I think brokeys are the most, the most selfish people in the world because they're, they're so selfish. It's all about them. Like they don't like to talk about money. They don't, they don't like people that have money, that make a lot of money because they're so selfish. Because if you don't have money, if you're a broke, you don't have any money. Like, who are you gonna help if you don't have any money? You can't donate any money. If you, you can, you can't help people. If your best friend, your family member, your, whether it's your kids or your father's mother's, if they're sick and they need a, their critical condition and they need 50 grand, you don't have it. They need 100 grand, you don't have it. They, they might have to go see Gary Breca and, and, and get fixed and they don't have the money. So you're not going to change lives if you don't have money. Like Donald Trump wouldn't be the president if he didn't have any money. You need money to help people. You need Money to change the world. You need money to be Elon Musk and go to Mars. So, like, people that are. That are broke and don't like to talk about money, they're the most selfish people in the world.
- [21:19]
B
So as you've been scaling the business and you bring on 40 people here, you also have a ton of employees on the mortgage side, the lending side, the real estate side, etc. How is it to deal with so many staff members? The inner workings of it.
- [21:36]
A
I only. And I'm in this. It's almost like deja vu. Like, I was talking to Eric Spofford, Neil Patel. I'm gonna tell you my answer. I pretty much only talk to, like, five of my employees. We have probably close to 500 now. I only talk to like, five. So, like, I don't deal with it. But. But the. The reason why is because there's a really good book I'll recommend everybody. It's called Rocket Fuel. I. When I read that book, I realized I'm a visionary and I just got to stick to the vision. I just got to stick to my CEO duties. And then Sil is the operator, and she's going to operate all the employees. Everybody that works here, maybe five to 10 people in the company is who I talk to.
- [22:21]
B
So let's say someone. They've got their five or $10,000 saved up. They want to choose someone to learn from, whether it's coaching, a mentor, a mastermind, whatever. How do they decide or research or figure out who's the right fit for them.
- [22:35]
A
There's different mentors for. There's like. I know some people have good, good rip, bad rep. You know, like, I. I'll name. I'll name a few. Right? So you have obviously yourself, Dan Fleishman. Dude, you. You connect me with everybody. Like, I don't know if you call yourself that. Maybe you have, maybe you haven't, but you, like, you just know everybody. You're like a connector and. And did. You're. You would be a mentor into teaching people, like, how to get into rooms, how to meet the right people, how to network. But then you have other people. Like, you have, like, Wes Watson. A lot of people hate him. A lot of people love him. But he does have a good message. Message for people that need his message. You know, like the mindset stuff. Natasha Grosse on another one. She was here yesterday. Dude, she's. She's awesome. Like, people have told me, like, bad things about her, this and that, and. And I. I did. I did some research. I Found some things I saw, like one of her last podcasts. So I asked her when she came in here, I said, hey, is, are you okay with me asking anything? Is there something you don't want to talk about? And she said, ask me anything. And I said, can I ask you about your fake followers? Can I ask you about the orphanage? And just stuff like that. And if you see the podcast, like she clears everything and, and I'm a smart guy, everything made sense. I believe her. She's. She's awesome, dude. I respect her fucking hustle. And she sends a good message. She's just that tough woman she talked about. She, she was raped three times. 15, 21. The first time she talks about that.
- [24:15]
B
Wow.
- [24:16]
A
But she was super open and I'm sure that's going to help a lot of other girls and maybe they're going through that right now.
- [24:21]
B
Sure.
- [24:22]
A
But. But there's also like Neil Patel, you know, that guy's a genius marketer for like huge trillion dollar companies. But you'll learn from everybody. Tai Lopez, you know Tai Lopez, he also gets like, hate. And people love him, people hate him. But that guy knows how to do like some things right. So everybody has something. So the way I did it was like I hired Tim Grover, David Goggins, Grant Cardone, Patrick Bedavid, Dean Graciosi, I hired every. John Maxwell.
- [24:52]
B
Those are all big names.
- [24:53]
A
Yeah. So like I hired all of them, paid him like some, some 400k, some 100k, some less or more so that they can spend one on one time with me and also be on my podcast, be on their podcast, go on an Instagram live, go visit them at their house. All of those things have made me who I am. And now I'm able to teach other people that they get all in one with me.
- [25:18]
B
So let's talk about the charity side of life. Why do you think it's important for families, households or companies to do some type of charity work or help the homeless or feed people or help children? Like, why should they have some type of charity in their life, bro?
- [25:31]
A
That's the biggest thing. The more you give, the more you get. You just gotta give, give, give. Like I'm always like, I always carry like cash. It's weird, but I have like a Ziploc bag.
- [25:42]
B
That's fun.
- [25:42]
A
And I, and I just have like a bunch of like hundred dollar bills and wherever I go, like wherever I go, I'm like, like I'm always pulling out like a hundred or whatever and I'm like giving them to like the valet, the people at the restrooms.
- [25:56]
B
At Javier, we've been doing this 100% bill thing. Can you talk about that?
- [25:59]
A
Yeah. Every time I go to dinner. No, not every time, but 90% of time. I always, I always match the price.
- [26:07]
B
So, like, if the bill is 240, you tip 240?
- [26:09]
A
Yeah.
- [26:10]
B
Wow.
- [26:10]
A
Yeah. If it's 1,000, I tip 1,000.
- [26:12]
B
Really?
- [26:12]
A
Yeah.
- [26:12]
B
I love it.
- [26:14]
A
And, and me. And we go to dinners every day.
- [26:16]
B
Yeah.
- [26:17]
A
90% of the days we go to dinner. And, and that's kind of like, that's why, like, life is work and work is life. But. But I'm really like, I want to start a. I want, I want to do something with you. Maybe Tim's story. I won that. Me. And still we've been, we've been talking about this, but we from. For now, we just donate. Like whenever I go to Dave Meltzer's events, yours event, Tim stories, I donate. I always give like a thousand dollars, 500 bucks, 2,000 bucks.
- [26:44]
B
What?
- [26:44]
A
Like, like something like that. But I want to start my own, like, driven, like, driven charity.
- [26:52]
B
Of course, it's great.
- [26:54]
A
We got to look@godaddy driven charity.com. so I want to start that. I want you to help me with it. And, and, and I just want to give, like, I don't know, I want to give a lot of money, like a percentage of my income. I just want to give it to my charity. And for me, I love, I love white people, black people, purple people, yellow people, but, but I'm Mexican, I'm Latino, so I want to do something that, that helps, like, the Latino kids. Like, I want to be for the Latino American kids. The Latino community is 20% of the U.S. population, and, and they need help for sure. You know, like, they're, they. They grow up with not the correct information to become successful, to build their dream life, you know, So I was one of those. And I had to hire all these mentors to learn. So I want to do like, some driven charity. And then we could help like, all the Latino Americans here in the US Even outside of the US but, but I know that. I mean, you, you know that like the. I. Some people won't agree with me, but I think the Latinos here in the US are, are the hardest working people.
- [28:06]
B
Sure.
- [28:07]
A
Like, they're loyal people and, and everybody's great, but, like, I just feel like they're loyal, they're hard workers. Patrick. But David once told me my. Most of. I focus and most of my people are Latino, Latinos. Php before he sold it. Because they're just hard workers and they're loyal. And I remember that. Hard workers and loyal. And then Grant Cardone, Bradley, you, Tim Story, Tim Grover. There's a video with Tim Grover. He tells me that I told him one thing and he ran with it. I always reposted. They all told me the same thing. Alberta, focus on your Latino community. Because there's nobody that. That controls that. You are the one. Ed Milette, another one. And so like I started doing that and it's been going really, really well. But. But the most powerful thing you'll hear here is if you want to make more money, give more, help more people, and the money's gonna come on autopilot.
- [29:05]
B
A lot of people don't realize that they can give without cash. If you don't have much money, use your social media, show up and volunteer. Go there and put in the energy. If you can't donate the physical cash, put in your time, put in your energy, put in your muscles. Go, go help. Go to the children's hospital, go to senior citizens home.
- [29:23]
A
Yeah.
- [29:24]
B
Like everyone needs to go to the. Go feed the homeless.
- [29:26]
A
Yeah.
- [29:26]
B
So Trina's kids foundation, we started 11 years ago and it is for the Latin community. We've been helping the Latin children in downtown Los Angeles since. Was that 2012, 2013. And we always have 400 families show up. And we do four charity events a year. We do a back to. We do back to school day, report card day, Thanksgiving food drive, and then the toy drive. And every year it gets bigger and bigger and bigger and bigger. And every year more families show up, more families show up, more families show up. So with driven charity, we just kind of. To boil down and think about what is the main category.
- [30:04]
A
I want to give $1,000 to your children.
- [30:06]
B
Amazing. I'm going to give it out right now. Then we'll give it out tonight. Thank you. Think about what is the thing. Is it the children? Is it the Latin community in general? Is it education? Is it toys? Is it feeding them? When you figure that out, it makes it easier for people to support your mission. Because what will happen is people will copy you.
- [30:27]
A
Yeah.
- [30:27]
B
And it's a good thing, by the way. So years ago we started what's called the hundred dollar tipping club. So the similar how you've been tipping 100%.
- [30:35]
A
Yeah.
- [30:35]
B
$100 tipping club is we'll get like eight friends, 15 friends, 30 friends together, and everybody chips in a hundred bucks. Sometimes if we're in like salt Lake City, we'll do a thousand dollar tipping club. So we'll get 26 people together and donate $26,000. And the way you do it is $100 tipping club. Anyone can go. That's actually the website. $100 tipping club. You can go to a restaurant, get Albert and seven of your friends together, and you don't tell the waitress. And at the end of the meal, 50% of the money goes to the waitress. 50% of the money goes to the bar backs, the cooks, the chefs, et cetera. So if you got like 1700 bucks, give her 8 or 900 bucks and give the staff 8 or 900 bucks. Over 4000 people have copied us that we know of. It could be a lot more. Over 4000 of them copied us. And so I love every time I see you doing this 100%, because I started seeing other people do it.
- [31:28]
A
You're making me want to do it now.
- [31:29]
B
Let's go tonight.
- [31:31]
A
Javier's.
- [31:32]
B
Yeah. And so the point is, when you figure out what that niche is, you're like, okay, you know, you want to help the Latin community. Is it children? Is it homeless? Is it feeding them? Is it education? What is that thing? Because that'll make people want to rally around you because you're such a powerful figure in that space.
- [31:47]
A
Yeah.
- [31:48]
B
All right, I'm gonna ask you a question that I ask on every single episode, but I've never gotten the same answer. Ready for this?
- [31:56]
A
Yeah.
- [31:56]
B
Okay. $80,000 a day, right? $30 million a year. But you're still young. Over the course of time, you're gonna go from 30 million, 50 million, 100 million, God willing, 200 million. Ultimately, you might become a billionaire. I think he will. And at that time, let's call it a hundred years from now, and you've got multiple children, what percentage of a billion dollars do you leave to those children?
- [32:26]
A
That's a very good question. It's hard, you know? Like, I'm not. I don't want to. I don't want to leave him. I want to leave him very little. I want to leave everything to the world. Like, I want to just donate everything, leave my children, like a little bit something where they could start a business. My girls, because they're here right now, all three of them. And like, Italia's birthday was yesterday. She turned eight. And you know what? You know what her wish was? She said, dad, Mom, I just want to go to the office for my birthday. That was her. That's a birthday gift.
- [33:11]
B
Wow.
- [33:11]
A
So, like, I. I want them to figure it out. I want them to struggle. I want to get them, like, maybe not a Honda Civic, but like a little Mercedes when, when they're able to drive and then they have to earn everything else, and then, then they have a little bit of money to start something, but then the. The rest of it, I just wanted. I want to. I want to put it in good use. I want to donate it to the future. Like, I want to donate it. And I never thought about this to this extent, but I want to do it. I want to donate it to the kids. And also the kids have to earn it. Not just to any kid, right? Maybe there's like a. Like a school where they have to go to a school that I build. The kids that graduate, then they get it.
- [34:00]
B
School.
- [34:00]
A
I like driven school kids, because the kids are the future for sure. Italia will make her own billion. Berlin will make her own billion. Kelly will make her own billion. Those are the kids that I want to create. And I don't want to have kids where I give them a billion dollars and they turn into drug addicts. They're entitled. They expect everything. So that's the way I see it. And if you think about it, Dan, like, me and you see each other, like, how often? Maybe, like once a month. Right now, like once a month. So, like, if you have. Let's just say me and you have 40 years left, right? 40 years left. So that means that I'm gonna see you 40 times. 12.
- [34:49]
B
480 times.
- [34:50]
A
So I'm gonna see you 480 times, 12 more. So now with this, I'm going to see you 479 more times. So the life is not the years. And, and, and what if something happens to you or me? Then I don't see you again. But a good way to see it is, like, I'm only going to see it done 479 more times after today. So those 479 times have to count, right? You can't get the time back. Like, how many times do you see your mom a year? Twice a year? And how many years does she have left? Like, more or less being. Just being conservative. Okay, so that means you're only gonna see her 10 more times. So, like, when you think about that, like, life is short. And that's why I'll have champagne every day. Like, I'll have. I have family members that are dying, that died.
- [35:49]
B
I.
- [35:49]
A
People that didn't do what they wanted to do, and they were, like, always saving, saving, saving, pay off their home, and then they Die. So that's why like the money is so easy to make. Time is impossible to get back. So like my billions, like I'm, I'm building a trillion dollar company. That's how big I think billions is going to be. Easy, that's already in the works. But a trillion dollar company like Apple, like, you know, like those big companies, Microsoft, Facebook, Amazon, like that, that's, that, that's my vision. And yeah, I mean all the money that I make, I'll. I'll leave 1% to my kids and I'll give everything away, donate it to the students, to the young kids that earn it because they graduate from the driven school. So that's what I'll do.
- [36:38]
B
I love it. All right. Where can people find you online? Where can they find driven? Where can they find your whole world? Go through all of it.
- [36:44]
A
Very simple. Just Google me, Albert Precioto.
- [36:47]
B
That's it. Yeah, it's easy.
- [36:48]
A
Yeah, Google me.
- [36:51]
B
Hi guys. By the way, I did a campaign for Neil Patel. It's a really fun story. By the way, before we go.
- [36:56]
A
Yeah, I love Neil Patel.
- [36:57]
B
Yeah. So I did a campaign called who is Neil Patel? And this campaign was, I had Instagram models, influencers, holding up signs that.
- [37:07]
A
See if he answers me right now.
- [37:08]
B
That literally said, who is Neil Patel? He wrote an article about it. You can still see the article.
- [37:13]
A
See, Neil. Hey, Neil, we're talking about you here. We're doing a podcast live. We're talking about the campaign that Dan did for you. You want to tell me?
- [37:21]
B
All right, so you're live on the Money Mondays and I'm going to put you right next to the microphone. Do you remember the who is Neil Patel campaign? Tell us about it.
- [37:30]
A
Yeah. So Dan had a lot of people just go out there and take pictures and hold up a sign. Who is Neil Patel? He took models, influencer people, business people, dudes, chicks, pretty much everyone to hold up a sign. And it caused a ton of people to Google for my name, which then helped with a lot of my Google rankings.
- [37:54]
B
Thank you, Neil Patel. We'll call you later. We'll probably see you for dinner.
- [37:57]
A
Alright, bye.
- [37:59]
B
So that campaign was interesting because we'd like have girls like use lipstick and write on the mirror, who is Neil Patel? So people are scrolling through Instagram like, who the hell is Neil Patel? They have no idea. And they started Google searching him and his search went through the roof. And as you guys know, he's a wizard. So he turned that into this huge company. Alright, guys, I appreciate you guys being here. As you know, the Money Mondays is meant for you to share with your friends, family and followers. Visit us on themoneymizedays.com, talk to your families. Talk about money because it's important. You got to talk about loans, finances, taxes. What happens if you borrow money? Should I do this? Should I pay that? Should I get a rent? A lease? What do I do about payroll? How much should I ask for my salary? Money is part of your daily life, so have discussions about it, be blunt about it, ask your friends about it, and make sure to have open communication. So we'll see you guys next Monday on TheMoneyMondays.com.