Caleb Hammer Exposed | Financial Audit

my name is Caleb I'm 28 years old I'm based out of Austin Texas and this is financial audit this is crazy for me to be sitting here this crazy for me it's nuts because I've seen so many videos and it's hard for me to be in this seat doing this on you because I would be on the other side of this dude I've been watching uh gram stepan for like three years how do you think I feel right now so cool so tell us what you do for work what would you explain your job is

to someone who's asking I do the YouTubes and yeah we get paid for the videos that are put on there but you've carved out a really unique name I think on YouTube no one's really done that Dave Ramsey has but he hasn't taken it to the podcast so what prompted you to get into auditing full on financials like this so I think the way that I thought about it is like the other things that I do in my creative process like I studied music composition in college so when I would go to write music I'd

be like okay here's a piece of music that I want to hear it doesn't exist so let me write it here's a show that I want to watch here's a conversation that I wish happened to me 10 years ago doesn't exist I guess we should make it are you a fan of Dave Ramsey oh uh yeah yeah no I mean he paveed the way right uh you know he definitely goes a bit political and stuff which can turn people off which is fine that's why I try to avoid that here because I think anyone and

everyone should be welcome into finances regardless of I don't want anyone to you know feel turned off yeah but I like them overall obviously it's helped like w millions of people obvious yeah and you have a great schedule as well filming Monday Tuesday what was it Thursday a Thursday that's great you really seem to have this dialed in so tell us a little bit about your goals like what what is your objective with doing all this so we definitely want to help as many as people as possible that's certainly the big thing and that's why

you know recently we've like sent out a survey to all past guests seeing like how they're doing and capturing like how the whole experience was so overall primary goal helping the people here on the show because you know regardless of any income that comes to this um just seeing the reward of people getting on debt is actually really cool so many people were going to think like oh you know that's not true I mean it's about it's about the money but no actually seeing people get out of debt and change it in their life is

incredible and we get like a million emails social media YouTube comments all these people who've watched the YouTube videos and they're getting out of debt dude that is like the most like it just lights a fire under you and you just want to record more episodes and like do more things and then of course the financial reward that has come with it like the amount of money that is coming in on a monthly basis isn't something that I would have dreamed about making in a yearly basis it's still my Mone I can't even comprehend it

so yeah what were you making let's say two years ago two years ago $100,000 after bonuses and what were you doing then I was a product manager about yeah two years ago I would have been a product manager okay and why did you decide to leave that to then do YouTube I was getting just frustrated with that business itself they didn't really listen to anyone who like focused on different areas of the business and I'm not going to name them sure I'm not going to name them okay let's put it on screen yeah rhymes with

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

then I was like but I love creating things like the Arts world and stuff that's why I went into music I like creating things this is a show I've wanted to do so I was just like okay let's just start the show and it just ended up taking off thanks to all you lovely people it's completely uh thanks to them but uh it just took off and then I was able to pursue it fulltime you're very good at asking people to subscribe by the way notice right around now you're telling people subscribe you got to

hit 750,000 subscribers so that's coming up and thank you to everyone who has subscribed so far we just hit 700 today and it's all thanks to you congratulations really good that's good 700 is a good number yeah it's an exciting number that's fun what are your goals though financially like what do you want to attain I think so for me personally hitting a certain number that I feel comfortable with in monthly cash flow that I can pull like you know 3% from an overall St stock market portfolio or cash flowing from Real Estate or business

uh that equals what I would need to live maybe times two okay and then I would just never have to worry about anything again because this is a very stressful job and stress and anxiety and stuff that I have isn't always the best sure so hitting that number would give me the flexibility of just knowing that okay I could just Coast until I'm dead okay what is that number what do you want and then we could break it down from there because we we're going to be starting at the end point and then working backward

figuring out how you could get there 16 16 would be good 16,000 a month okay 16,000 a month in cash flow I'm going to say something unpopular I don't I don't think $16,000 a month is going to be enough oh okay maybe not I'm looking through a lot of these expenses and your mortgage I think substantially more I think you have to be more in the 30s no you're right no actually you're right cuz I just and then if you want to double that I think you have to be probably around half a million dollars

a year that's where I think that's where I think you have to end up yeah so quick math in my head all I did was double my mortgage but then that means that morgage but that means you can't do that that's terrible cuz that means mortgage is 50% of my income that would be aggressively terrible so I don't know $25,000 a month but again even $25,000 a month I feel like that's just like I'd still have money that I wouldn't even know what to do with it's like ridicul of mind it's peace of mind that's

what you really want is even if the market crashes 50% you want to be okay on the exact same way I assume all my investments are going down 50% and then I assume other Investments they're worth nothing I don't even count them so all of these things in my mind I'm like a Black Swan event is going to happen uh everything is going to go to zero and I work based off that so I'm like kind of the same way when it comes to that uh so let's first talk about your income what would you

say it averages out to be every month yeah that's a good question so it definitely varies month by month but since well thanks to you all amazing people out there who are incredibly supportive I think you know recently it's more like low six figures on a monthly basis comes into the business before payroll and before all other expenses like you know giving a flat rate to people who are traveling and you know some other expenses that the businesses required and of course both my employees make over six figures on a yearly basis so but that's

that's what comes in before all those expenses congratulations thank you it's ridiculous you're posting hourlong videos three times a week the consistency that I see on your channel is admirable man appreciate I did that for six years a three times a week it it is grueling it's grinding to keep that sort of schedule and have a backlog like just in case you miss something to have something else you could post congratulations how new is that though it's very new um I mean when we when I did uh an audit on Jack was making maybe 15

20,000 what was that like six months ago yeah so it's scaled up incredibly quickly yeah no I've been very blessed congratulations so that's why I think it it's it's somewhat difficult to navigate making such a high income because all of the other expenses that you normally worry about don't make a difference like a lot of the money that I've seen you spend are just rounding errors so it's hard for me to go through and be like you spent too much money at uh Jimmy John's because in the big picture it really doesn't matter that much

relative to how much you're making but in doing so there's a lot of stuff that tends to fall through the cracks that you just don't care about that could easily be cleaned up yeah the one thing that really stood out to me I guess we'll get into the juicy part now I see uh a mortgage yeah I got one of those sick mortgages $8,000 a month is what I put towards it I think minimum is like 7,200 and what about property taxes though CU that's another good chunk oh yeah well that's all included so that's

mortgage property taxes Insurance okay yeah but no a massive portion of that is getting by property taxes then of the property taxes like 30 40% of it gets recaptured by the state and given to other portions of the state anyway so it's not even supporting Austin so why did you decide to buy because it seemed like you went from I know like because it seems as though like eight months ago you wouldn't have qualified for the loan and now you're able to qualify So within eight months you decide okay I'm making a decent chunk of

money let's go and put it towards a house at a 6 and a half% interest rate yeah which is brutal this is this was I think I don't when it comes financially I don't do a lot of impulsive choices this is one of the more impulsive choices but of course it just also happens to be basically $900,000 that's a big thing to be impulsive about so like me but I needed more space so Austin neighborhoods starting from downtown kind of the radiuses around it the first inner loop of Highways maybe throw a map on screen

I don't know uh a lot of those neighborhoods you know the houses have been bought torn down built up new now they're starting to do the outer ring I bought just slightly in the outer ring one of the first places in this neighborhood that is doing that so I really think if it follows the trend there's more of a bet which is not a great way to go off things but if it follows the trend of the rest of Austin I think this neighborhood in the coming years you know there there's houses for salees tear

it down build a nice new house and then again one ZIP code over this is a $2.5 million house versus 900,000 here so I think it has potential the issue that I see is that you're spending more money owning the home than you could just pay renting it and you're tying up 20% of your down payment I just don't see the upside you having just recently come into a whole lot of money through this channel not knowing the trajectory it's it's probably going to go really well for you most likely but in that small chance

YouTube algorithm changes something changes you have no control over those sort of things probably you're safe uh but spending this amount of money on a house I would have told you just to rent I know you told me to rent you would be we talked about it you could probably rent a home similar to this I'm guessing for under $77,000 a month I couldn't find it but I also wasn't being patient I bet if I waited I could have found something like it probably I wasn't patient but you weren't patient at the expense of the

next 30 years of having payments really high payments overall mhm yeah and the house I also have to say is is it's a newer it's not a newer neighborhood but this is like the only new house as we were driving up I'm like oh that's got to be again that's the inter that's the that's the loop thing I was talking about so that was more of a play I just we'll see if it works out the ideal play in my opinion would have been to buy a fixer buy something that like needs a chunk of

work to it please and then you buy it for way less maybe like what what's the average price three times I'm so I hate that process I hate that process cuz it's so annoying this is the first time I've been able to turn key ever yeah and it's been so nice instead of endless construction going on and just bull bull every day that's costing you $280 hey just for you to be able to say that and the newness is going to wear off give it about 6 to 8 months you're to be itching you're going

to think ah I need some more space the driveway is a little too steep can't fit my Ferrari up there it's going to scrape when I 2019 Jeep Cherokee and I have no plan of upgrading to be very clear when you get an exotic sports car convertible you're not going to be able to pull it up the right angle was scrape on the splitter I'm just saying it's a very impulsive Choice it it was I I would have preferred uh to have seen you save some money maybe with renting nearby s house for Less yeah

so uh My Equity position in this house is like 20% of my net worth that's way too that's way too much tied into a primary residence for a net worth the thing is your income is skewing your income is skewing everything so it's it's it's Haywire you can't really look at that the same way because you're making so much and you could hypothetically oh you know I could pay off the home if I wanted to in a few years if things continue with this I could pay off now well I mean that but that would

rely on you selling other things that and then paying tax on those things so I don't quite know about that after ta you'd still be a little screwy on that but just with all the expenses on that that's something that really stood out to me as something that uh just you got to cool it on the impulse a bit that's like the only thing financially I've been impulsive on for what it's worth other than like okay I'm going to go get a little Nom right now get those calories uh that fits in the budget but

you're right no that was a choice love the house though it's a great house yeah yeah I like the house I'm not unhappy with house I like the house I don't like the price that's it um we also have to talk about oh actually well before you leave from the house listed for 1.4 I got it down to 914 though yeah but it was never worth 1.4 to begin with it was not it was not but yeah I know people put their homes listed all the time at ridiculous prices I know some of them what

they'll do is they'll start it high and then reduce it so that you think wow they just reduced the price this must be such a good deal now they just dropped it 15% it's never worth that to begin with know and then sometimes they underprice it and get multiple offers so it gets bit up it just depends on their how motivated they are to sell um so on the topic of the house I actually noticed you have an Ashley Furniture loan so you finance the furniture 0% baby for what one year how long is this

I think it's 6 months uh 0% uh so the logic behind this we'll see I I personally like 0% financing or very low finances and uh financing and then investing the rest and that's is what I wanted to do with this what was like 15,000 bucks total sure I just didn't I wanted to invest at all I I can't fault I can't fault the logic but it seems like at your income it's it would be the equivalent of you kind of going out of your way to like pick up pennies off the ground it's like

you going downtown be like I'm going to pick up all the quarters that like because when you think of how much left over I see you have like a Sofi savings account with 4 half% interest after tax what is that going to look like maybe 1.8% and then we got to think what's 1.8% of $15,000 what is that that's going to be two basically round it up to 2% uh and then we got to think well only six months worth of that so yeah it's not bad but I just think in the big picture is

is stuff like this even worth your time and that's really what it's going to come down to I think it's good to keep those habits of like being Frugal making the smart choices but something like this I just I wouldn't even think about it always feel like I'm I'm finessing but you're right no I mean to be completely honest I don't think I've mentally adjusted to the income I could tell yeah because some of the spending seems way out of control and then some of the things like this this seems like something you would do

if you have an emergency fund that's making some cash on the sidelines m that few hundred extra dollars over six months is gonna be a big deal yeah that's really GNA help out that could be a week's worth of groceries but for you when you calculate how much that's that's worth relative to everything else it just doesn't seem like this is worth the mental headspace of having an Ashley Furniture loan to furnish your almost million dooll home so you can get free interest for six months and I'm the one who's really encouraging of I'm the

one who would say do it but I think in your situation if you could get better Clarity on anything else by not having an extra loan under your name I I probably that's true go without it honestly it is set up just for sake of your conscience it is set up that you know it's going to be the minimum monthly payments that I put towards it you know it automatically pays off I don't have to think about no interest will be charged but I was hoping they give you a discount like hey open up our

credit card we're going to give you 20% off the entire thing usually that's what I see that they they do like when you shop at Macy's oh would you like to open up a Macy's credit card you get 20% off your first order got 50% off my friend's mom working there wait wait what your friend's mom my friend's mom is the store manager there so I got 50% off I didn't like bang my friend's mom or anything no so I got 50% on my friend's mom though no PO your poor friend she she's a very

lovely person so while we're on the topic of real estate though I do notice you own uh quite a lot of real estate congratulations one two three five properties in total yeah yeah yeah so walk us through this besides this place that you bought with 20% down you have a condo that you bought at a good time uh mid 2021 so values have gone up a bit since then and you have what seems like a decent chunk of equity about 100 something thousand of equity in this you're going to hate this huh at that great

rate I still I want to sell it right now 3.13 I wouldn't be opposed to you selling really cuz here's what I think when I when I see this value in your payment your monthly payment $2400 a month plus the condo associations okay what could you rent this place out only 2500 so yeah exactly thank you everyone else has been saying No thank you well that's what I would do everyone's like the land's going to get bought by some cuz they changed the zoning so it can go higher into an old building and there's an

empty lot next door so they someone thinks someone's going to come in and build a new complex it's possible it is but negotiating how many how many units in this building uh 30 it's really small negotiating biots is going to take a long time it's very complicated and for a developer even though you can build higher doesn't mean it's it's and people anyway to build higher so I'm saying for a developer when they see a building like that usually they want a building empty they want something easy that they can just tear down start building

soon negotiating buyouts like 28 people could be on board and then you have the two that aren't and then what do you do for those two people you have to overpay if you want to get them out and so I would say unless you're really betting on Austin continuing to go up in value it doesn't make sense as a rental if you did rent it out at 25 you're going to be gaining minimal Equity paying down the mortgage every month it's going to be a hassle this is one of the few places I would sell

the other benefit is that you've lived here for two of the last five years so you'd be exempt from paying any capital gains taxes so for me this would be a no brainer sell it as soon as possible the market seems pretty strong right now so I would take that c do anything else with it I don't think it makes sense as a rental I want to put it into another property but up in Michigan cuz my Michigan uh properties cash flow very well I see this so you bought one at $120,000 how do you

find $120,000 where in Michigan is this Midwest where in this is a college town kazoo really yeah and you just hire a property manager on it yep so I worked with someone that I rented from when I lived there uh their group they rented to me um and uh they're fantastic they're my broker and they're my property management company so this seems like a pretty good cash on cash return so your monthly payment is about $900 monthly rent is 12250 and that monthly payment is that including like property manager everything all out uh property manager

will take uh $10,000 ,000 that be 10% uh but that is before the income that comes in what do you mean 10% before the income that comes in so the income that you see coming in there is what I receive personally so that's after their 10% got it so n that's a pretty decent cash onh return my only criticism is whether or not this is worth your time at this point because right now you got a cash cow and that would be your business yeah and so any well I don't think about this I've never

thought about it since I purchased it that's good yeah but you will at some point at some point Have you had a vacancy through here one of those is going through an eviction okay right now and you are thinking about that to some degree you to some degree if you're financing Furniture you're thinking about an eviction cuz you're thinking about day someone's in there they're not paying rent you have to think that eviction is costing you way more than your maybe I should be thinking about it more than I do I think I thought about

it once this month that's good you're very fortunate I had an eviction this must have been about 10 years ago and it was consuming my life yeah every day I was thinking about it and just like and and I was receiving threatening messages from the tenant at the time yeah so that was bad I know that l so try to avoid that your next rental is also fantas oh well you bought it a little high so your values have gone down but yes that one was weird CU it was actually Val it was apprais much

higher but the value has I mean all I did was go off his estimates on this it's not at all so I wanted to create rough numbers for you cuz I I don't have access to the MLS and I'm not messing with numbers up there anyway I just trust my broker when I go to purchase properties so according to that it went down but that one is that the one I bought in cash yes cash one so that's the one that's currently going through an eviction I I've given them months months they have not paid

once and every time we've gone into to do a repair they like threaten the people so like I'm very morally torn on the eviction thing cuz like you this this person lives here yes I own the property but the person lives here like where are they going to go they haven't paid once and that's okay I'm willing to work with them is they're like trying to find a new job or whatever their situation is or if they have a medical thing going on that's fine but with the threats going on that they've done towards our

maintenance people and stuff like that it's just a situation where they've clearly not put any effort forward of trying to get jobs they've hired lawyers instead of trying to pay rent uh before we even started the eviction process are the are these professional tenants do you know what that is there's a thing called professional tenants where what they do is they they know the basics of the law and they can move in with a security deposit and get sometimes upwards of one to three years of free rent depending on what they do and I've seen

tenants also file for bankruptcy and you can't do anything when they're in bankruptcy drag out the bankruptcy they could cancel the bankruptcy in the future but they'll be able to get one to two years of free rent and then by the time you're actually able to get them out you've spent so much time and money that they then go and do it to somebody else they have another place lined up and that's just what they do she came with the house oh she did she was the previous tenant never take a tency well the thing

is the the listing price and the appraisal price at the of what it was appraised for doing a cash offer I got it for $40,000 less than it was appraised which was really good and I don't know I don't know what it appraised for today cuz we trust Zillow so I was getting a good deal on it and still the projected rent uh once we get someone in there from our uh from my broker who every time she's projected rent she's got it got it more she undercuts it like it it cash flows at like

1.2% a month of the value here's thing who did the appraisal did you did you do it or an appraisal you know like a professional appraiser and that was part of your contingency so you hired the okay oh yeah and why couldn't it be delivered vacant I don't know um I don't remember I want to thank today's episode sponsor Sofi they've got some incredible tools to help you take control of your personal finances if you haven't heard of Sofi yet they are an all-in-one finance app that simplifies your financial life you can Bank borrow and

invest all from one place Sofi makes managing your finances a breeze whether you're keeping tabs on your cash Investments monthly savings spending categories or even upcoming expenses it's all displayed on one mobile dashboard you can even add your property so you're checking the value of your home over time and tracking your net worth over time and their credit score monitoring will not hurt your credit score you'll earn cash reward points every time your credit score goes up and there's no added cost new users get up to $10 in reward points just for signing up and

activating credit score monitoring and Sofi wants you to get your money right so they're actually giving one of you in the audience right now $2,500 all you have to do to enter is to sign up for the free credit score monitoring with Sofi by scanning this QR code on screen or by checking it out in the link in the description below thanks again to Sofi for sponsoring this episode it's it's a lesson just always you pick your own tenants you're in control of that uh and then in Illinois rental first one yeah this is the

first one uh monthly rent $950 on a looks like A600 and something dollar payment yeah it's not the best so it's it's okay uh it was my first one I rushed into it but say you want to buy another rental right now yes cuz I mean I've learned a lot throughout the process I have the map down I have the area down in the relationship my relationship with them that's a different broker and stuff they're okay the area is not as good it's that I just rushed into cuz I had money I was like I

I've been wanting a rental property forever I'm just going to buy a rental property that sounds impulsive too yes it was and I don't do that for rental prop but we have a theme with you in real estate seeming a little impulsive buying get very excited to real estate buying HGTV kid yeah why do you think that is I don't know um uh I mean maybe because I've always been interested in real estate uh just before I even knew anything about personal finances like it was still a dream that I would have rental properties in

the area that I grew up in so it's hard to pinpoint it why but I I know that's something I've been interested in for a long time okay so is that what you plan to do with this Austin condo I take that and then put it in a rental property are you seeing good opportunities right now in today's with today's interest rates there's three properties right now that's open internally for the BR that uh there's one they're putting it up for uh uh $280,000 I think it's worth about 200 uh $30,000 but it's currently cash

flowing it's a a not Triplex is that a word Triplex it's a Triplex uh bringing in $3,500 of rent a month and that's the one I'm interested in you know they're selling it for 2,800 or uh 280,000 I should be able to get that much lower with cash what's the area worth I mean is is that it's high cash flow for a reason because it's got to be higher risk the area is probably not appreciating college students college students so it's I buy right off of Western Michigan University but I mean it's just like across

the country zoning it's people we've ruined ourselves with terrible zoning laws but because of that they build no new housing in that area okay and there's just there's always demand students in need places to live uh so it's just like since forever that it's been like the easiest place to rent mten it's like what about repairs um so far I haven't had to do anything major uh but I am setting uh 3% aside on a monthly basis uh for uh future repairs and three an additional 3% for future vacancies good um so but I haven't

had any major repairs yet I've seen some college rentals and they are trashed man have you have you walked through after okay I've seen like holes in the wall things completely broken doors like off their hinges it's wild and I know I could will never touch that I know I couldn't deal with that myself that's why I have this brokerage and someone who's been doing it in the area for 20 years with a good track record so while we're on the topic of Investments you mentioned something about Burger yeah and you brought a whole bunch

of food for us when we got here like 20 bags of food and you're telling me you want to invest you want to buy a burger yeah I I think as far as so cash flow opportunities again to get to that goal I'm looking for cash flow which sometimes what it's so stupid because you have the cash flow right in front of you you have a pot of gold that's right here and you're think yes oh well yeah yes but you're but you're you're you're like you you have all the money right here you're like

oh what's this over here and maybe I could do this over here and buy you know Arbitrage this interest rate over here for a few hundred dollars it's like it's it's stupid for me because I see like all this opportunity right here you're look I don't want to take away from this though like I I already have in place a full-time operator who would run it for me completely so like again it wouldn't take much mental energy I like Outsourcing so explain what Burger is for people not familiar you schooled me on best burger I've

ever had okay personally I know you disagree with that Jack in the audience who likes in- and out for some unhuman reason um it's incredible it's a local spot opened in a gas station a year and a half ago it's fantastic it's owned by a dude who's done actually really successful businesses in Toronto and then he moved down here during the pandemic cuz everything was like closed up there and he just didn't want that I guess and he uh started this place it's is like the most fresh food you can get everything the meat is

ground on a daily basis at the store and it is so good it's affordable for the area that place is always popping people are getting deliveries like crazy and I you know I I for legal reasons can't talk about their numbers but they make money so even like the 12% cash on cash return I get on some rental properties like if I can do better with some money I put into something I feel like so how much money would you invest in something like that well it's going to depend on the location because there's going

to be buildout right physical buildout so that would be the expensive place he's not going to since I'm going to be the first franchise owner and then obviously I have the media presence I'm not going to have a franchise fee and until it's well profitable I'm not going to be paying anything on a monthly basis back to him so it's almost like an independent offshoot until it's successful uh so the finances up front would be um you know whatever inventory we need and then obviously the build out of a location build out is expensive I

looked a and I got to the point of having aanch contract in my email reviewed by attorneys and I was one signature away and I decided against it the cost is through the roof it's going to take way more money than you expect mine would be a small franchise not even a big one a small one similar to you more of like a startup yeah hundreds of thousands of dollars is how much it takes for the build outs hundreds of thousands and it's going to take longer than you expect so I think you're probably looking

at if it's if it's anywhere similar to mine and it the food somewhat similar it was like 5 to 700,000 depending on how highend you're going with this yeah that's how much it is so when you're talking about basically betting your net worth on a franchise I know that's silly it seems I don't think you're at the point where you could make F you Investments a franchise is something you do when you have Fu money when you've made it and you're like I could afford to light this money on fire and I wouldn't even care

or notice then you could start making Burger Investments you're not at the point you you have everything you you have a winning lottery ticket and you want to make a side bet betting that lottery ticket that oh maybe I could do better over here the other issue that I see with franchises you're stuck on that lease you're signing a long-term lease on usually those leases are like five to seven years and then you're negotiating options beyond that what are you going to do in the event that business is not doing well you're 600 Grand in

the whole you have a monthly payment of five six grand a month the business is losing money you're dealing with employees who are quitting High turnover rates on franchises by the way a lot of insurance costs go into that too a lot of expense there also at the whims of whatever the food people want to charge you for the for the cost of the food there's so many variables you also have to consider the location that you want to get in one location could be really successful while the other's not yeah so you're building out

a brand new audience somewhere else who's not used to going into the bud bger it's not this is not investment I would ever do unless unless you have so much money that you just don't care like this this is this is a fun investment that you should value at zero because you don't have experience in the food industry you're relying on other people without the please sir I delivered Jimmy Johns for like four years excuse me excuse me you've you've eaten quite a lot of bur so you do have experience with with the place but

managing a bus buiness like that you don't have the experience you're relying on other people and you're fronting all the you're taking all the risk on this if you were taking all the risk don't do a franchise you can come up with your own thing Own 100% of it you could be I can't make a burger as good as them though I would I would beg to differ the reason I'm attached to them is because I think they have an amazing product and process I don't personally I don't see it and I don't think you

should be fronting that amount of money that's that's a lot of money you're taking on 100% of the risk the owner of bur is getting getting all the benefit because now your name is attached to Burg automatically gives it a lot of credibility he could easily sell other franchises because he could say well if Caleb Hammer did it then and he's the money guy then it's a good investment because if the money guy is doing it you should do it too so risk for you this is out of your out of your risk Zone it's

not only too high risk but you don't have the finances to support it yeah you're eight months in something and I think you're getting ahead of yourself no I think you're right it's like what I kind of did when I started making more money on YouTube I thought of and I heard someone else say this they based their income spending finances on like three years prior and so I heard something like that and I thought to myself with three years ago me approve of this purchase if three years ago me would say no that's too

much money that's stupid I I didn't do it uh not until the point where I thought three years ago me okay can afford it it's reasonable I'm not making a stupid decision if I need if if things you know if I need to sell it I could sell it get my money back this is this is a huge liability and three years ago you would never have done this investment based on based on eight months of income doing well on YouTube you also have to consider what happens in that 5 to sevene lease if something

happens to YouTube and that Burger's not doing well for whatever reason maybe just a bad location maybe maybe just people aren't Jing with it realistically it's probably just going to be more money than you expect it's going to be a higher rent than you expect higher employee turnover training employees is CRI operator that's what the operator is for of course but even with a great operator you're still going to have a very high employee turnover that was one of the things that I really disliked about the franchise thing you know I almost uh franchised it

was um a a one of those frozen yogurt places almost did that and that was 203 or 2014 I I went between that and getting a rental property and I like the frozen yogurt franchise because I thought wow I could make 25 to 30% on my money versus a rental property that at best is going to be doing about 8 to %. so why wouldn't I take the 30% I end up taking the rental property I'm so glad I did yeah my friend did the frozen yogurt FR horrible now unfortunately a lot of this was

not due to him but employee turnover he was there every day because if your employees aren't there opening at 9:00 a.m. they'll call you at 8:35 yeah place has to open at 9: because it's a franchise what do you do sorry I can't make it just not feeling well today yeah you could let that person go but you still have to be there physically to open up the store he was there like seven days a week from open to close and sometimes you'd be there at open have employees during the day and then employees would

leave early hey I got to go something came up and he would have to go there to close the store holidays too Co ruined ruined him and the the franchise requested that he stay open during a lot of the days that Los Angeles was for the most part shut down so he would remain open even though like only a few people would come in and he said that it costs more to stay open than it would be just to close and pay all the rent and pay pay all the overhead like it would cost him

money so like I hear all of these stories and I think for a franchise it's not worth the headache and you're not at the point if you had let's just say 20 million bucks consistent income of $50,000 $70,000 a month and you say I love this burger place this is a hobby of mine I could write this off to zero I don't care I just want to support the owner consider this then like a gift to the owner like I like this guy I like the food GNA throw some money and see what happens write

it off a zero because I see this as like a startup investment like if you were to invest in a startup with a one in a 100 chance of ever making it that's essentially what this is they have a proven model though and if it's open they one they have one store they don't have there's no Fran there's no proven model they have one store success store has proven itself and if that that's not a franchise though you want a franchise like no one store has done well that doesn't mean it's repeatable I've also seen

oneoff stores do well they try to repeat it in another location doesn't do as well for whatever reason same metro area though yeah doesn't matter what would you think of L of a lower cost food truck which is very popular food truck courts are huge here and that would probably be half or why do you want to do all these things okay so well the question as me the question you asked me is a big question what if the YouTube income drives up but it's not well we don't know we but you're focusing on all

these other things you're focusing on all these other maybe and what if YouTube income dries up that's where I want but it's not drying up right now not right now but you would want something in place though and that's where my idea of behind a side business eventually eventually but here's the thing if YouTube dries up you definitely don't want to be tied to a franchise that's a a coin flip of being successful or not you don't want to be tied down huh you lack the you there the franchise that I wanted to do was

was the best product that I've had in that category the best by far I love it and I still eat there I still decided against it you've clearly been very successful in the YouTube game you have a substantial making of piles of monies and things like that so My Philosophy always is if people know more than you lean on them so I will take your advice on the franchise I app I appreciate that I think here's the way I see it you have something very good going on I would take all of your resources all

of your mental energy doubled down on the channel here's my fear with your channel it's it's a really really really good concept there will be a point and people are going to disagree with me from what I've seen across everybody there's going to be a point eventually where it gets a bit stale where people are just familiar with it they could predict it yes every story is going to be different yeah but when you look at someone even even like a day of Ramsey audience every story is a bit different but he's got his core

audience there and the odd video does you know great views you've built something really special it's very unique no one could be you and I'm here in this chair and I I can't be anywhere close to what you're doing I think you're going to notice other people start to pop up with the same format the same thing they're going to be different personalities they're going to put their different spin on things they pay for ads under my videos do they really yeah they promote their videos under my well good well you're getting paid off that

then so there you go so you're making a little bit off that but I'm just saying I think keeping this show exciting relevant Cutting Edge and entertaining for people to continue coming back with different you know objectives and you were telling me about something you were doing with someone on the show outside of the office I thought that was really cool yeah they know about it it's a grocery shopping trip okay so I think stuff like that is fantastic I'd also like to see you at some point maybe going in like car shopping with someone

who's you know want needs to get a new car and like you motorcycles you going shopping with someone close sh I I don't know you reeling back people's spending I think stuff like that could be entertaining but I going to H&M with graham deal let's do it I think stuff like that is how you keep your business going well and continuing to expand because if you do the same thing and I'm guilty of it you do the same thing eventually people will start to move on because there's going to be more competition there's a lot

of shows I want to do actually that's why I've brought on the the two people over there uh so that I'm able to spend more focus on the you know planning out some other things we want to do so when we get the studio that we want to do we want to have different sets for different shows we want to do cuz yeah no show has been successful and I think it's always going to help people but will it always do as well as it is now no probably not and I want to make sure

that there's you know other avenues that people can consume things that they would want to consume I think realistically the show will continue to do well for a while because I think it's a great format it's exactly what algorithms love which is long form content that you could clip up stuff like that will do well on almost every platform because you could take the hour post on YouTube and then release it everywhere else in their own algorithms and and have it do well so I think realistically you've got years ahead of you on this I

think as long as you just be a little bit Cutting Edge on this because I think the format works right now but for how long we don't know kind of like you hit a gold mine and you don't know how long that vein and gold is there for like you could run out in a year or that vein and gold could be there for 50 years yeah but it's like if you're mining for gold and you've got the gold why would you say well yeah the Mind Right might run out at some point so let

me look over here you got it right in front of you and and that's the thing that I'm seeing is that you're very like here here here here this idea this and I think it's commendable that you want all these income sources yeah but it it pales don't want to rely on one but it pales in comparison to what you're doing with this and one month of what you're doing here could be a year two years of income on something else that will take your time away from I think what's important which is this I'm

nervous of focusing too much financially from YouTube though a lot of money can be made oh we you know we we get so many sponsor requests and we turn down so many cuz they're just absolute we there's there's so much there's more money to be made than we can do but I want the show to actually focus on people's situations that are more individual unique that help people out there balancing that with what we know could be a good cash grab like we put out that video with the model uh I guess when this video

is coming out a week before it um like okay we could replicate that every single week if we wanted to and that would just you know make double the money almost but it's like I also want to balance you know making it cuz there's no point of this content if it doesn't actually help people because that is like the goal in the end right so I don't I I agree I'm a little nervous of being too money focused with the YouTube channel I don't think you have to be money focused I would be more creatively

focused I'm just saying MoneyWise you've got everything you need right here this should be your focus everything here your time should be spent being in front of the camera strategizing and being creative you're going to get 10 times higher return doing that than you will doing a franchise buying another rental property there there are fantastic investment opportunities out there as well but I'm worried I don't want to see that distracting you from what I think this is so unique you've got something here and I wouldn't spread your time out anywhere else other than what's important

which is this all right that makes sense I want to do it good do I have your word on that I don't know I don't I don't think I do I I think you're GNA say that no but because I but because I was telling you to rent original I'm like dude I'd rent right now you know values are a little sticky mortgages you're right and you didn't do it well here's my thing I'm 90% sure I'm not going to do it from this conversation I just I'm getting access to a deep dive on their

numbers in a few days and I just like what if all of a sudden there's this I I hope you take that 90% into consideration oh I 100% very strong consideration I 90% am yeah I I wouldn't do it based on this if you were five years from now and you'd say I could light this on fire wouldn't even notice if it's gone and this is a hobby then do it yeah but I don't think you're at that point yet based on what I've seen so far I'll buy another property then yeah I'm only doing

them in cash right now because of the rates and I can get good deals on them that one I was just telling you about that's one that I'm considering so maybe that's the move it's tough for me because I see well you're getting good returns but where I'm looking like a lot of Las Vegas recently the returns that I'm seeing unfortunately are the same returns that I could get locked in with the treasury zero work whatso that's cuz you don't like doing multi-state you know you don't like doing far away right not really noal I

like investing where I could see because when you drive by certain areas you could just see it's like that's going to go up in value you just you you see all the development around you could see like people are moving in One Direction or another like personally I'm just going to say the arts district of Las Vegas it's an area right by downtown it kind of looks a little weird when you go in like a lot of dilapidated buildings but you get into these pockets of just like really cool hipster looking techy people and it's

like a hub now so like I see that and I would never have noticed unless you're just there and you're familiar with what's going on so that's why I like to invest where where I see where I live it is my hometown and I lived in that uh area for a while so I think that's the only reason why I feel comfortable with it because I guess it would be harder if I've never been there yeah would you say though when it comes to your spending you have any uh issues or anything that would stand

out in this well let's see uh obviously I invest a lot of money uh so I mean payroll is high but I like payroll being high I like them making money uh both of them make over six figures but reward good work with good monies and obviously I'm making great money so I'm not going to pay less for that but payrolls High then paying you know travel compensations for people that come here and we're always continuing to update it as well I had to say by the way you had us picked up at the airport

with a Lincoln Navigator ex it's excessive I I it only for you I think for your guests you could wow them if they're flying in to come on the show but not for Jack and I like we would have been happy with an U Uber like I thought it was I thought it was too much every once a while I have a little bougie moment and that was my little bougie moment uh for you guys cuz I've been a big fan forever and Jack's been here I love Jack u i want you guys to get

the special treatment objectively I saw that and I would have rather you had saved the money well plus also you guys haven't been able to get my on a plane CU true so I'm like all right you know treat them aone yeah well are we going to be able to get over have you talked about that we should talk about it do you want to talk about it oh I'll talk about anything if you want to say that for yours or mine we could talk about it on both okay uh on the iced coffee hour

by the way if you want to see the full interview on this but uh afraid of the airplanes you don't want to get no it's not fear of airplanes it's a panic disorder not being in control so when you're on an airplane or in an area where I just can't get to my like Escape place it's just like it's an overwhelming phobia that I've allowed to build over the years and since I've a lot out to building just gets worse and worse and worse I just get anxious when I'm in situations I can't control I

can't land the plane if I'm having a terrible panic attack so it's not even like well I have I thought maybe I'd have one today cuz I was just nervous about this whole situation so I was nervous about being being nervous but it didn't happen maybe it wouldn't happen on a plane but the phobia of me being so afraid of getting stuck in a place and having a panic attack is so extreme that I'm missing out on so many aspects of life that I could experience right now so it seems like you're afraid of being

afraid in an area where you can't escape and it's developed the true phobia it's not fear yeah it's not like just fear itself it's like a true mental barrier that is in like I can not get over the wall and I don't know how to is it a fear of like the plane crashing no I don't give a that or the flights I've been on a plane I've gone to Paris yeah a long time ago so what is it about being able to escape because I'm terrified of the plane crashing yeah like that's my biggest

fear which by the way Tik Tok knows for some reason I got like recommended one plane crash video and started recommending them and then I've never had a phobia flying ever and now I get nervous on flights because Tik Tok started recommending these plane crash videos well we all know the statistics around it so I mean like again I'm not afraid of that it's is being stuck like even I I prefer driving versus having someone else driving you know that's just what I prefer I pref I don't know it's it's it's hard to explain but

it's just the idea of not being in control and being stuck in a situation that you can't get out of when you have you should start small you should start by you not driving having someone I'm fine with that now I've gotten better with that yeah and we can take short flights flight to Vegas might be kind kind of nice sure that's like 3 hours you're stuck on a thing 45 minutes okay very easy I was thinking of doing like a flight to Dallas and then I could drive back that's short what is that like

30 minutes like an hour cuz it takes a while to climb do you meditate it's difficult nah that might help maybe I mean I think that would help in a situation like that I've tried it before it really calms you down it makes you I can't concate because of my ttis I have tentis too tenus you do yeah I do you know it's actually pronounced tenus no yeah fun fact oh wow yeah thanks NPR uh no I've had it my entire life my entire life it's always it's always a ringing sound no matter what do

you sleep with a box fan or noise machine you're a mad man I couldn't no now recently we started to with uh like the sounds of like Crickets at night but I've never done that before H just used to it it's it becomes white noise after a while it's like a little thing I don't even well it just gets louder and silence so anytime I've done something similar to meditation when I'm in that silent mode all a sudden it goes I'm then all of a sudden that's all I can think why meditation would help calm

that down yeah it's just about letting go when you get the intru intru I can't say when you get the intru intrusive when you get the intrusive thoughts uh it teaches you how to let them go and I think being in that state if you get those same thoughts on an airplane you'll know how to let them go no I want to I very much want to so this is a step that I'm going to have to take somehow another step you could take is actually getting a credit card that gives you rewards besides the

carrot credit card yeah there's a lot of things on the carrot credit card that I see that are getting you nothing back and they seem very disorganized you would sent all of your like credit card statements to me and the one thing I couldn't understand is which credit cards are for which because it seems like Amazon I keep this for business only but there are other business credit cards that will give you points back like at least if you're going to use this card spend it on things that get you points back because right now

you've spent $6,000 on this card and gotten 271 points back which is what like $3 who knows yeah I did not set up the categories correctly remember when I said earlier I like the Finesse well apparently I like to finesse selectively so I did not I have not uh taken the time to finesse business purchases no you say it's business why a lot of Jimmy John's business long days of work that's just usually what like I'll get that for dinner and then I'll get back to work and stuff like that so it's just like stuff

like that get it right after the shoot then eat it back to admin healthy depends what you get but what I get no and mostly no why not transition to some healthier fits I I've done that many times I just I I'm a yo- yoer I'm a yo-yo and I've yoed all the way back up so but we could yo back down we can yeah well but unfortunately with my yo experience then I'd yo up so actually recently recently that's last month's statement recently I have been a little better okay uh Mr but of course

we all know that doesn't count that doesn't count for people on my show either if you're just doing a little better recently you you know you're getting in recent habits it's like all right but historically I've demonstrated that no I eat poorly does it take up a big percentage of the budget not even close but that doesn't matter it's healthwise yeah I think you would you would really benefit from Factor cook Unity one of those meals delivery services sign up for that you'll pay a little bit more actually you know what you're probably going to

pay about the same price per meal as you're spending eating out but you'll know exactly what the calories are it'll be really fresh food I would do that I've done Factor they've been a sponsor twice on this channel fantastic they've been really good and then all of a sudden I'll just I forget to like continue it or whatever like I enjoy it then I forget to continue it then I get my gy johns and it's just like all right I think you're at a point right now where you got everything dialed in now you could

start focusing your time on health and I think eating better I think going to the gym these things you'll perform better and you're going to make more money like you have to think what the ROI is of you being in shape at like the best physical condition that you could be in how much more money do you think you'd be able to make from that plus there's no point of making a lot of money if I'm going to die at a heart attack at 60 exactly and I will say objectively I have more energy when

I go to the gym I sleep better I feel better I'm more productive and I'm able to think sharper if I take like a few weeks off you you feel like this fatigue that kind of comes over you're a little bit lazier and if you slack on that you tend to slack in other areas so if you can get yourself to the gym every day eat healthy every day you're going to find that other things also tend to fall in place I would try that because you're at a point where you could easily afford it

it's not going to cost you anything and I think the time commitment given that you're thinking about doing franchises all this other stuff you could just as easily spend 30 minutes a day either getting walking in get a treadmill doing some weights just light stuff it's my addiction for sure it's my if I have an addiction it's the fat greasy sweets you know anything in those categories it's just once I get in those modes and then I just continue down it and it's just like I just like Gore like I'll like eat a little breakfast

then I'll eat nothing all day and then I'll just gorge in it in a single meal it's really bad U you know so I'll probably title this episode fat refuses to stop eating out gets financially destroyed yeah more more fast food than anyone should ever have that's true I'm the same way I like to have one big meal like ideally if I could not eat the entire day and then have one like all you could eat intermediate intermediate fast is that I I try to skip breakfast have a small snack for lunch and then not

eat until dinner and then I like a big dinner yeah but if you overeat in that dinner it kind of makes everything else you know worthless so like me you shoving a bunch of burgers down your throat immediately when you show up see I but it makes me feel lethargic like I was really nervous about eating before doing this because I'm not going to have as much energy made you a double shot so yeah but even if it affects me 5% how better could this episode been if I were 5% better just being a little

bit more perky and that's the way I think of it and what's that 5% worth $100 $200 and then all of a sudden is that meal worth $200 probably not for waiting a little bit so I see things in in terms of dollars like that so we got Fidelity almost 300 Grand in Fidelity and I look through that by the way $500,000 in Fidelity well 475 congratulations thank you so this was end of last month this was the last time I did a network checkup congratulations and they're reasonable Investments I saw like it it wasn't

anything crazy it's just like the S&P a good globally Diversified fund I I can't fault you on that see I think that's a good use of cash long term over the next 30 Years I could see you doing quite well on that and just dollar cost averaging regardless just don't pay ATT just don't look at it for 30 years I think is is good I do 70% S&P 30% NASDAQ that's my current go what about International have you thought about doing any International just I every time I look at any any funds related to us

is their historic returns are just bad yeah but I I know I I know so what what I've seen with International so far and I've just done you the basic of research is that it's very cyclical and that that the international is good for balancing out your portfolio so that when the US is not doing so well the international is probably buffering that a bit so you're not going to see the high Highs but you're not going to see quite the low lows right yes it's underperformed but it's been pretty stable even though it hasn't

gone up a ton so I know it's tough to look back last you know 10 years and see oh it's only made 4% but the S&P is up 70% right I know that's tough but you also have to consider the Dividends are a little bit higher in that and it's been pretty stable and you never know what might happen so I think a small allocation that not investment advice but uh it's just something to consider uh it's interesting though it's it's good you're trying out a whole bunch of different platforms here I like acorns a

lot acorns is great yeah I've been using them for years yeah Link in the description below get you $45 yeah they're good Mumu $5,000 in Mumu what do you think of them so mumu's really good um so I do a little bit a single stock type stuff in uh in Robin Hood and I'm considering switching over to Mumu um and we're talking partnership with them right now but I again I don't do any Partnerships until I can fully test it out and what I'm getting from them versus Robin Hood is just a more developed platform

for individual stocks and I'm really liking it um there's a lot more research I need to do before fully switching over to them but I threw $5,000 in there give it a all I did was buy some q q so but no pretty cool and what do you think between Mumu and Weeble I've never used Weeble have you really no they're like the ogs yeah I for single stocks I've just been Robin Hood interesting try Weeble okay give that a shot just to test it out Weil's pretty Advanced with a lot of the things that

they offer but this might be worth it I like to try every platform I can and just just to give it a shot see what you think of it and then that way if someone ever asks hey what do you think of this platform you've tried it out you've used it so student loans $ 37,3 is that deferred uh deferred until well until right now yeah okay yeah started again what's the plan on that well they're at 4% so minimum monthly payments till they're paid off I I feel like it's a not a waste but

yeah kind of of $37 $37,000 to just store at it if I'm going to get average 10 point whatever with dividends reinvested in the S&P 500 on average so is like I the check that comes in this month I could wipe that but I also would rather just throw it to S&P 500 is that tax deductible the interest on that uh depends on your income levels so I'm guessing for you it's not honestly when I was making $100,000 it wasn't so part of I listen I know on a rental property you're going to Arbitrage the

difference but wouldn't this be nice just to wipe out because you're making it would be 4 and a half% at Sofi after after tax you're taking home let let's just call it three something but then you're paying four on student loans the stuff in SOI I'm not it's not necessarily in there to make 4.5% looking for an opportunity it's in there for taxes oh I got to pay those taxes and it's not enough are you doing quarterly tax payments no annual this is the last year I can do it without a penalty or because it's

my first full year yeah uh and then next year I'm trying to well you actually had a really interesting I don't remember where I heard it but I remember you at one point saying you did annual because whatever uh negative penalties you get you're well making up for via the money that you're putting it in and letting it grow not anymore not anymore not anymore so that was a thing in the past when the market was doing as well as it was this year's been great though yes but also the penalty back then was not

as much as it is now so the interest rates have gone up yeah so the amounts that you owe I think it used to be like 2 to 3% and now I think don't quote me on this I think it's like 5 or 6% I thought it was round three okay wellow kill me well that's problem I believe two three years ago I did a whole thing with my accountant and we did the determination of where the money was going where it was invested and it was an amount that I said I'll pay the penalty

on it it makes sense I'm going to invest the difference and that was at a time too where I was sinking almost all my money into rental properties I was fixing them up I was renting them out I was really active with my money and then interest rates started going up did the math on it and I determined it was a big waste of money not to do the payment so now so I've been doing the estimated quarterly tax payments for almost two years or about a year year and a half give or take started

doing that okay it's good and bad it it's bad seeing such a big amount coming out of the account but it is nice at the end of the year you do your taxes and maybe you don't owe anything and that was actually quite freeing because in my mind I was always saving a big chunk of of cash just knowing this is coming up I got to prepare for this it was nice doing my taxes this last year and knowing it's already paid yeah like really close to what the actual amount was so it was nice

that it was out of sight out of mind okay no that's great I did find a great CPA through uh a really successful business person here so I haven't used them yet but um that is a conversation that happen very quickly yeah yes so the student loans you'd pay them off I probably would because I think financially yes you could Arbitrage your money and you could make the you know 8% well you're paying out four so you're talking emo just think yeah so it would emotionally weigh on you so that's interesting I think I I

always try to do it situation to situation if it emotionally weighs on someone and it's a low rate then I'm like do it that I feel nothing with it existing nothing nothing I'm also a hypocrite because I still have my Tesla Model 3 loan that I took out at but it was at like three something per. but I could deduct that cuz I just I use that card just for driving around you know for for business um if I ever do get a new car I think I want a Tesla Tesla's a fantastic car to

buy mostly because of self- driving and the Tex it's it's barely even functional their self-driving is it's their self-driving is atrocious full self-driving I heard it was good I've watched reviews I've I've done it I have the full self-driving I I I stopped using it's a novelty it's a novelty to do it once be like hey look at this look at this it's tur I am so nervous behind the wheel of this thing driving if if you're on the highway and you're and you're just doing the basic Lane thing where it could you know go

around other cars and whatnot even that's terrifying because you get Phantom braking where you're going on the highway going 75 it just The Brak slam on that you don't have to hope no one's behind but think put on the self-driving then I can be doing swipes on hinge and we'll talk about that well I'm driving yeah it's probably not the best I don't trust Elon Musk Tesla to drive me in a car that's fair enough well if that's not the case then then I will stick with my 2019 Jeep CH tell dies I think I

think the Jeep is a fantastic car um you wouldn't qualify for the tax subsidies of the model 3 you would be able to ride off the full cost of a Tesla Model X because of how much it weighs but those are ridiculous expensive still they lowered the price a ton oh yeah they lowered like $20,000 even the Plaid the model X plaid I think used to be like 130 and now it's like I mean they lower the the price of these cars by a lot also I never try to find things that the dip and

that's when I buy but this is like the one time if I'm going to get a Tesla oh my goodness every single month they're getting cut in price I feel like I'm going to buy it the next month is going to be $10,000 I I would personally keep the Jeep for as long as you can oh yeah that's my plan so I I'm not a car person I don't give cars I just like the student loans I just think how much we bringing in every month how small this is relative to that and I just

think for the ease of just knocking it out and being done with it it would not make that big of a financial difference that's how I see it you could Arbitrage it and financially you're probably better off arbitraging it but when we're talking about what the real difference of that is even if it's like $1,000 two grand of Arbitrage over you know the lifetime is that really worth it maybe it is I think it's just easy to to but but either way it's like you're still coming out ahead it doesn't matter like a lot of

these things are trivial highly considered that I in before this conversation I would have even considered it but you know I want to come into this as open-minded as possible so I will definitely um highly consider that yeah it's difficult for me because we could go through all of your expenses and none of it would matter I mean you could literally take 20 grand to light it on fire and be like that's my Entertainment Tonight it's so weird to me I've not mentally gotten there but you know that's that's why I think you should really

play it conservative play it very safe until it's really sunk in you get years of that income under your belt and then could then at that point you could really readjust to it and figure out how you want to deploy it like that three years thing just based it off three years ago you how would you feel about that three years from now maybe you could make those those franchise yeah payments all right well that's fair so just something to consider um I did have $50,000 hour in Robin Hood on the talk of investment uh

what's that I don't know they're they're individual stocks I mean what I I think it's fine okay so when I'm looking through a lot of your accounts it really does seem disorganized like you put some random expenses over here you got a city double cash card that you put other expenses on there's really nothing cohesive that I could tell on this and it seems like a jumbled mess organizations definitely one of my uh not best skills to develop so I actually still have quite a few business expenses still reoccurring on a lot of those personal

cards that I haven't moved over once I formed the LLC so no you're right it's a it's a messy situation that literally what I need to take a weekend and just figure out yes I think I would spend the time to do that because from what I've seen there are probably a ton of random recurring expenses in here that you just don't need and I was guilty of this for a while it took me years to truly go through some of the old credit card statements and look through them and think I'm not using this

when's the last time I use this product some of these are charging like $100 a month and I'm looking at this thinking we haven't used this in over two years why am I still paying for this well just in case well let's cancel it we need to sign up again we will yeah um and I've canceled so much I've saved hundreds of dollars a month just going through some of these I bet you could easily do that and save money yeah um there's a lot of uh I've noticed by the way you're spending money on

Disney plus yes um also yeah you did Disney plus you did uh Netflix and YouTube TV there's no way you could possibly watch that much uh no I mean it's lot of my background stuff YouTube TV right now is for football on Saturdays uh and then Master Chef every once in a while uh that's really all I use YouTube TV for uh Netflix there's kind of sucks these days I could cancel it I literally just started that cuz I couldn't be on my parents anymore cuz I cut you know Netflix got all strict uh so

I just restarted it actually I've been rewatching Seinfield but once I finish Seinfield I'll probably finish then good good so you have an end date on that and then which credit card do you charge hinge to uh what's that how much is that it's Apple bills that might just go to my debit debit card it might just go to my debit okay and how is that going uh well I get a couple matches here and there yeah lovely people and then and what credit card you put on say die there what matches yeah your matches

your dinner dates it doesn't oh no what I was going to say is I gu matches but the conversations just die so quickly like I try to keep engaged and I send the last message and then people just don't message back I don't know it sounds like you're sending bad messages maybe I'm sending bad messages that's probably what it is I get my friends to review my profile and stuff so can I can I see it yeah go for it okay it's going to be embarrassing all right let's uh let's look let's go to me

it sounds like you're sending really bad messages or boring messages or messages that are just not engaging I am not verifying first you can see my profile and then you can just go wherever you want there all right here we go uh I so this is your main picture I hate it you with the no there's two people in the photo with a banana they have no idea which one you are they can't even see your face the banana is more prominent isn't the rule when you have a first picture with a couple people the

second picture has to only be you though no I would say the first picture has to be you just a good photo of you gr when's the last time you've had to be out there and try to get a date you have a fiance sir I don't know it's been a while but you know what I don't think these change I I think it's been the same thing for hundreds of years it's just like people want to see a good photo of just you not you with a friend in a banana I have no idea

what I'm looking at here so that's so like strike one on that one uh choose our first date I thought that said put out no it says putt put I love putt putt looks like put out doesn't it it does I love P put coffee dinner and a walk okay special talent of mine can I can I click that a special talent of mine is being able to do a Morgan Freeman impression but in British it's like this hello Morgan Freeman what is that thought it was funny it doesn't sound anything like him no it

doesn't that's the joke though I we I saw it on someone else's hinge I stole it did that work for that person or no we thought it was very funny when we were reviewing that person's hinge yeah every once in a while our friend she will put hinge on the TV and will'll rate her profiles that she swipes on andone and she swiped on that I think so I think that pushed her over the edge but maybe we just find weird things funny all right two truths in a lie I have three British friends I

accidentally bought a house well we know that one uh s on the beach is the best drink ever made uh I have three British friends is that is that the LIE yeah because I guess I have two but I don't think that's true anymore cuz I'm I'm friends with their other sister so I guess they're all TR they're all true now at one point Al all right content creator YouTube and Tik Tok I would get rid of that I don't know if I'd lead in with the content creator aspect oh okay yeah I didn't want

to push it but Life part I guess for this photo was taken okay Alter Ego uh see the other photos are good you need a better photo than that I'm bad way better I don't have pictures you know you know the thing is that I think you should put on here is some of the aquarium stuff I think that's very really I think it's very unique it shows that you could take care of something first dat fish shop and and and that's important all right so uh where where do you go to messages messages here

so give me an example of uh okay someone let's no she never responded let me see I to find out I don't know I'd like to find out you're braver than you look then there's nothing she could say to that well what did I say okay she says you're braver than you look you respond back what can I say I enjoy some risk how do you franchising text her that I'm about to do a franchise All or Nothing yeah from my perspective there's she could see that message and think it's too much effort for me

to try to think of a witty thing to say to that or something fun when you've given her nothing to go off at all let's find another one so that one and when she has like 50 people messaging that one just seems like you just kind of ended the conversation so that's that's why on that one we're the same type if you drink pickle juice out of a jar have you ever been the first to the pickle food truck on s first that was my message I sent to her yeah to match yeah okay no

that sounds amazing seriously it's so good maybe a fun idea for our first date way too forward I'm a forward mother no she knows nothing about you your first all she knows is that you're into pickles she has nothing to go off of your profile is is mid at best and you asked her on a date before she even knows you at all before she's able to kind of get a grasp of who you are there should be some sort of banter going on in the beginning like just something that pequs your curiosity other than

have you been the first to a pickle truck that's the reason why one more all right now we'll leave it there we'll leave it there oh no come on we need one more just a third one uh she started you should not go out with me if I if I'm an Ohio State fan I do not like Ohio State cuz I'm from Michigan so never be Ohio okay I don't know if that's a good first message but well I responded to her prompt though okay they are seriously the worst they are so gross I'm glad

there's not as many down here I didn't go to University of Michigan but as a michigander ew yeah the're gross and then you sent the double text I'm a double texter I'm a triple texter I'm a I'm a mountain send full stre all right guns of blaze in Texas how's your weekend going so far my friend's parents house okay oh no that's terrible my weekend was pretty good very light conversation okay so you went from you okay so good conversation but there's nothing that I see here that's like it seems more like a friendly conversation

kind of back like pen pals um this is good how long have you been in Texas I've been here for 5 years but yeah very hot still much prefer Winters up there fair enough that's really cool what brings you on here what do you mean what brings you on here she's single but how is she she's single what brings you on here that not that's a dumb question what brings you on here oh I'm bored of Tik Tok no she she she wants to she wants to meet someone like yeah but you don't she's diddling

that's a that's a it's a lame question so then you follow up again another double teex so like you're stacking these points against you right now so so this is your second second Point against you oh no are you not interested sorry and then you put the LOL so it's like not an L very embarrassing for me but but you know what this is how you teach people with personal finance and this is how I will teach you not to send these messages you are the one with the fiance I I am going to work

on behalf of everyone you've had on the show that you have reamed into and this is my one chance where I could ream into you for this cuz your finances that they're not bad they're decent relative to how much you're doing so you're fine so this is my my chance to shine here okay shine away you're just incredibly gorgeous so I just no come on so gorgeous are you not interested you're just so gorgeous so I just no you come on kill me this is terrible right that's how she's that's what she's thinking no this

is my my whole life because now if she responds now she's oh I'm so sorry I did this and she's gonna BS the excuse she's gonna throw just crap your way oh he said I'm gorgeous okay let me not turn him down it then it's awkward you're basically putting her up on a pet she's so gorgeous are you not interested you're the she like you're the one now vying for her to pick you yeah you're the one dude you're Caleb Hammer you have you have the world at your disposal okay you can anybody you want

you should be you should be the Picker you're the one the thickness thickness the thickness gets less choices you're the Picker doesn't matter you are the one doing the picking the Picker because you pick you're the Picker I like to other people from now on from now on you are the Picker you want me to act as yes you got to be the buyer not the seller the seller is the one trying to here's here's what I have to offer here's this here's that buy me no you're the one doing the buying what's been fun

is I've been trying to ask uh people in like you know out in the life a little more good uh which is because I mean that's like the classic way but a little harder and I think people are a little more barriers now to that cuz you know it is all like online dating now mostly rejections it's good it's fine it does itn't a couple numbers couple instam doesn't matter you need just need one good one my friend streamer friend Kimmy uh forced me coaxed me into putting a story on my Instagram saying hey there's

an event I got to go to and there there's a dinner um and I would have liked to date a date and if anyone wants to go let me know yeah so you saw it yeah how to go I was curious about that I don't know it was I I there was a couple people who reached out but I felt kind of weird cuz again they're from the audience probably yes and it's like I don't want to like you know is that a positional thing like cuz I don't know I would never think of it

to be and it now it seems like that's the topic of oh you're in a power you know position but what about like an ath what does that mean an athlete can't date a fan like from my perspective it seems like it would be like you and another person are on the same wavelength if they in to watching personal finance videos on YouTube that's such a small category it's such a narrow focus of of the type of person who's into that chances are you're going to get along very well with the type of person who's

watching an hourlong Financial audit I just don't want to make a simple mistake like that because it's very easy boom and then cancellation cuz and not that not that you know a lot of that stuff isn't warranted for people who done bad things but still it's like okay what if that is abusing a position of power that I wasn't aware but my thinking is where does that end but let's say if if you're a professional baseball player and you're out on the street and someone's a big fan is that mean you can't date that person

because because you're in a position of power like you know I think it could be different if you're in a power of authority in the terms of like a career yeah a workplace thing because then there's that added pressure of I don't want to lose my job I have payments to make I have obligations and if and if I lose this career how will this affect me I could see that a little bit more than like hey I'm a fan of your Channel I'm into personal finance um cuz that I think you'll find someone with

a similar mindset as you they're into personal finance they're into business they're into bettering themselves they're into YouTube but my point with this message she shut you down very politely I've not been checking the sorry I've not been checking the app consistently I joined because I moved here not know anyone and it seems like a good way to go out and explore Austin meet new people and see if a relationship comes from it I do have a lot of traveling for work coming up so to be honest I'm taking a step back from Hing dates

for a bit that's her saying not interested not interested but listen if Leonardo DiCaprio were her match she she'd be there in a second uh no you're okay so then being like Oh you're fine when did you move here would you like to try to get dinner or coffee before you start the traveling see this to me seems like she just told you she's not interested and then not read that correctly and then it was just like so let's go out then so I'm notoriously a bad texter so that's my dating advice on that I

I think it's you just got to reframe and I'm also nervous now that this video is out yeah they're okay so my income is out there I also don't want anyone to date me because of they're not going to they're not going to no okay lot of people have warned me of that no okay i' I've never experienced it and my income has been out there date a lot before people always ask me what high yield savings account do I use for my own money some of you know by now it's Sofi I love them

it's great for my check-in account needs it's great for my high yield savings account needs and right now I'm getting 4.5% interest on my monies I love that rate on my monies so if you want to get a great rate like that on your monies just check out the link in the description below I have a paid affiliate link there you can get bonuses all the way up to $250 and I took advantage of that and you should too I wouldn't say a lot but it was on there I mean it it it's it's not

a surprise at all out there on the streets of LA just get in every woman not necessarily but people know what they're getting into if if they know me from YouTube then they know I'm very frugal I'm not the type of guy if they want someone to spend a whole bunch of money just that's not me but they know they don't have to work or re worry about things in general that's assuming it would even get to that point and that's even a conversation to begin with but you're thinking so far down the line no

you're right that no I I think you could generally sense if someone's out for the money and if they have a genuine interest in you I i' I've never experienced it well that's good ever so that and then the position of power have been my main worries and that second one that's just a new thing because you know this has only been a recent thing and to me I'm I I feel like the exact same person but all of a sudden there's an audience now so it's like nating but now does that mean you can't

date people because you're on YouTube that that's what that's what I don't that applies to everybody as soon as soon as they find out now what you do and they say oh wow you know whether that be impressive to them it's almost an impossible thing to navigate because no one has the answer I just think be courteous yeah just be nice um social awareness I think is just a a big thing I I think that's it common sense fine I'm starting a dating email that everyone in the audience can reach out to I would just

do that put put the email you know hingit Caleb Hammer dude you don't need any that I meet people in person real life I would love a lovely someone to eventually share it with eventually no now now you're selling remember you're being the seller again now now you're saying this is what I have to offer come pick me right you want to say I'm into this person uh you know this is who who you know I want to be with okay not not hey guys right so this is what my financial audit has turned into

doing a deep dive therapy session here I think is there anything else that you feel like is important to discuss cuz I'm looking through these statements oh I don't think you know this nobody knows this huh I sold 10% of my company last November October of my YouTube channel really yeah cuz at that time it was making like $10,000 hour a month uh I was starting to do it full-time and then I got just very anxious and nervous very anxious and nervous uh sold 10% to another YouTuber a YouTuber you've met by the way but

you just you guys never talked about it uh wow so he just said you know uh he sees big potential in the channel he wants to give me a lot of advice and I did get a lot of advice from him so it wasn't like completely unworth it but obviously the return on investment he has has had has been fantastic but this is where you'll be happy I put a clause in there one that was risky against me and one that helped me avoid risk if the channel continued to do well I sold 10% for

$25,000 at that time again it was just an anxiety move it was just a bad move uh that's a I notice a theme Here of of impulsive decisions was that impulsive decisions I would say that was more anxiety driven like okay I'm doing this fulltime now like I was nervous like what if things turned down like this it's nice to have $25,000 just in the business but either way it was a bad move full out yeah I made it that okay if the business is successful and he's made a certain amount on his business within

the first year I can buy it back at $225,000 so I can buy it this month at $25,000 instead of whatever that share is worth that share is worth a lot more obiously doing that yeah or if the business was unsuccessful he could take the $25,000 back out of the business so that would have been the risk against me oh so he was able to collect on his investment he's been getting 10% of the profits on a monthly basis wow yeah he's had a great return on investment and uh you know nothing against that it

was 100% agreed upon he he did help me a lot especially at the beginning you know understanding thumbnails and you know just a lot of stuff and just the work around YouTube and what should be uh who I should hire first for a full-time employee a lot of that stuff cuz I didn't even have I didn't have connections to you or anyone at that time he was the only one who was in the space um that I had connection to so congratulations yeah then that worked out really well well it worked out obviously I'm going

to I lost money on it but it was it happened but if you needed that to get to where you are today you could look back at that and say that got me in the right headspace to be able to do the show at its best and that leveraged I parlay that into to where it is today yeah yeah I mean investing I assume you would want more than 50% yeah um so this how much is this going to be going down in the 70 once you buy that back is this going to be going

down a good amount what's oh let's see miscellaneous in here so misscellaneous well this is also things like Adobe Acrobat which we use to black out people statements so okay you can see a lot of those there and then there's a lot of the payroll as well so I do want to make sure that the people who work with me and anyone that comes on in the future they are you know making money if I make good money I want them to make good money and if you're not doing well then they're not going to

do as well okay uh so is it a tiered structure yes uh yeah okay a lot of it's based on channel performance I think as long as you keep it as a core team don't overexpanded that trajectory I think you'll be fine on that yeah producer and editor uh for what we're doing on this show I think it's good then we have someone that helps on a part-time basis who's going through the statements black in the mountain building these spreadsheets for us cuz it's just a lot of time uh but again that's a parttime basis

and then I have as of the last two months uh put my thumbnails in someone's hand who is like focused purely on the AL notic I've noticed your thumbnails are switching up a little bit what you should try is the YouTube thumbnail uh trial tester have you seen that uh I've seen people doing it I couldn't find it t they're slowly rolling it out try a few different thumbnails I think you need a cleaner thumbnail but I'm not sure because what you're doing is working quite well but I think maybe something a little cleaner might

do even better I'm not sure though I I I mean I yes I agree I would love to see examples because I just have a hard time picturing it for whatever reason yeah I would like seeing you saving a little bit more on investing because I think that you got like uh usually YouTube is like a five to sevene Career assuming it does really well five to seven oh assuming well yeah the best channels I've seen two three the the best channels have a lifespan 5 to seven very few crack 10 so you know I

think how long have you been doing it be seven yeah I knew I knew getting oh yeah oh I already know it's like YouTube is going to have an end at some point so that's why I've transitioned a lot more into the podcast oh I'm posting Less on the main Channel more on the podcast quality on the podcast getting different guests on there we got fil I think yeah wow yeah we're going to film that we got we got we got to film that we've been going for a long time there so I'm hoping that

kind of resets the uh timeline so I could be like okay I got seven years over here but only three on here no so I'm hoping three on here and know I get another few years going good podcast you get you I mean I I watch a lot of them I mean some of them really pop off on a roll we're on a roll been getting great guests yeah I think the guest selection is good and mixing that with shorts has skyrocketed our growth and today you're getting the best guest on YouTube what a blessing

for you I know and you're going to be coming off Bobby Lee Ben Shapiro you had Bobby Lee yeah we had Bobby Lee oh Patrick David so we got those people and we got Caleb Bobby Lee all Bobby lead yeah in the episode oh yeah caught us off we'll talk about it on the iced coffee hour but it was one of the most unexpected videos I've ever done I came in with a plan and he wanted none of it nothing wait never mind I don't know who Bobby is you don't know I thought she I

thought Bobby Lee was the new podcaster girl that everyone's calling her Bobby alof is that the industry plant that everyone's calling her one with Drake yeah never mind I don't know who you're talking about Bobby Lee The Comedian Bobby Lee I need faces I'm not a name person I don't do names this guy you've seen him guarantee you've seen him oh I watched that episode that was a great episode fantastic we came in with a plan about finances but money and just immediately like he he just said I'm not going to talk about that I

think that's my favorite episode you guys did that or liver King one of those liver King that was a great episode wow you like that is very interesting and different yeah this is very cool I think people like seeing the different gas of me outside of my comfort zone which is a lot more recently I assume they didn't really get the views which is why you stopped but I really enjoyed the ones where it was you you Graham and Alex you gram and Alex you Jack and Alex yeah we try to have a new guest

on every week we've thrown those in midweeks but it's just the core audience really likes it but it doesn't it does nothing for growth and when you post that off an episode of like you get someone like Ben Shapiro and then us three everyone that subscribes for that looks at the next one this not what I subscribe for click off unsubscribe and then you don't build up that momentum so it kind of throws a wrench in it well thank you so much that is my advice for you don't be stupid with your money play it

safe double down I think on what you're doing be creative here and uh get better with your texting game yes so in terms of My overall score I would say that Caleb has an eight out of 10 in terms of his spending it doesn't really matter in the big picture because his income is so high but I do think there's a lot that could be cleaned up and a lot that's going missing purely because he's not really thinking much of it uh we also have debt which I probably give a 1 out of 10 frankly

he could pay it off if he wants to he's trying to leverage some of that so I give that a low score a 10 out of 10 in the emergency fund category has plenty of cash on hand he could pay his taxes with it I'm a fan of that his retirement I would give it a nine out of 10 I think he could save a little bit more I'm sure he could optimize uh some of his tax savings in this but it's not perfect his house score I give a seven out of 10 because I

think it was a bit impulsive the spending is a bit higher than where I think it should be relative to where could rent so 7 out of 10 dating however is a zero out of 10 I think uh a complete failure and I think that could absolutely be improved and needs to improve immediately so overall 35 out of 60 the dating score really brings it down but I think he's got a bright future ahead of him thanks again to Sofi for sponsoring this [Music] episode e