Video Closed Captions:
one rental at a time it is tuesday
november 16th
how you doing i hope you’re having a
wonderful day couple quick uh notes
before we get started today actually
only one i would love your
feedback recently i started spending
some money
on my youtube channel yes i am pretty
cheap
but i’m now having somebody create
thumbnails uh for
my videos
and i would love your feedback my
current instructions to the group is hey
take the title take the videos and you
know create
a thumbnail you know use the colors that
are one rental at a time
so i would love to get your feedback
i’ve stopped
putting pictures you know pictures of
who the guests are in there but i’m not
sure what what you all like
so let me know what you think i like
them but again
my opinion really doesn’t matter so
love to understand what is going on with
the channel what you guys think so uh
i’ll let you know that renee the hat
thank you very much one rental at a time
you can get it below or on my website
one rental at a time
i do have a couple of shirts there’s a
shirt that talks about inflation that i
just created i think is really uh really
popular too i think it matches the hat
so go take a look enjoy it nice
christmas present to yourself
so as we get started with the day let’s
talk about retail sales retail sales
were the big number for the week they
were reported this morning
and they came out above expectations
i want to be very clear about something
i saw
or i shared i think it was sunday
morning my economics 101 it was that
video i asked you to get a piece of
paper for
retail sales are going to be up in q3
they already were they’re going to be up
in q4
folks
they gave us and i have the notes 5
trillion dollars were sent out
to individuals
1.6 trillion of that or 30
is still
sitting
in savings accounts
then remember what else are they telling
us they’re telling us shop early
shortages don’t do that you know do it
now do it now are we really surprised
that the average consumer
uh is out shopping early
i don’t i
this is this is economics 101 supply and
demand
demand is the want and the ability to
buy
we have it in spades the consumer is
liquid
and supply is limited
retailers will not discount there will
be has anybody noticed
there have been
no
blockbuster black friday advertising if
you can remember all the way back to
2018
2019
tv commercials come here 5 am do this do
that
all these retailers are saving that
marketing money
it’s going to make their earnings per
share look better folks
this is so predictable it is not even
funny
but yet the media is going to be oh my
god the consumer is spending yeah no
kidding they’re spending you gave them 5
trillion dollars and now you’re telling
them by now or it’s not going to be
there
just wait q1 maybe q2 probably q2
um
we’re going to see the reverse of this
that 1.6 trillion dollars half of it
will be gone
people have pre-bought not going to be
there and oh by the way the supply chain
will eventually unlock in all of those
retour stores that you know are triple
buying
double ordering
it is going to be a problem
we are going to head into a slowing
economy and this is not good
so retail sales were up 1.7
prices up no discounting shop now before
everything’s gone this
it is so frustrating that folks don’t
see this coming
next up walmart we’ll talk about a
couple of earnings
uh walmart uh beat top and bottom
walmart is one of those companies if you
are looking to get in the game and start
tracking the consumer like i have been
done doing for 30 years walmart is going
to become one of your anchors
walmart is huge
walmart is that environment where people
trade down to
or trade up from based on how the
economy is doing is it re recessionary
or is it expansion walmart is a huge
early indicator
it just is not right or wrong it just is
so again revenue grew four percent
people are buying
early christmas gifts folks
if you don’t understand what is going on
we’re not paying attention
there are no sales prices are up
very low inventory all this money
sitting on the sidelines we all have a
capacity to pay we all love our kids we
all love our loved ones we’re going to
buy it early so we don’t miss out and
have an unhappy christmas
and this is going to have an unfortunate
hangover next year when all the money’s
gone and we’re like what’s going on why
is inflation so high it’s it’s coming
home depot beat top and bottom
again kind of what you would expect
although there are very interesting
things going on at home depot home depot
reports more granular numbers than
walmart for example
transactions
fell at home depot
by 5.5 percent that means there are less
people going through the lines in home
depot
i am thinking
flipping and all of this stuff is really
slowing down
however they were up and beat earnings
because the
average
receipt
the average receipt that you go through
line was up twelve point nine percent or
up a total of eighty uh up to eighty two
dollars and thirty cents
so again less transactions but the
transactions are higher priced
allah inflation allah no discounting
it’s
this is so predictable it’s not even
funny then we go on to peloton
peloton is in a world of hurt peloton
drastically missed expectations
peloton has built a company
that is frankly
sized
for a certain level and now their level
is lower folks
it is not an exaggeration to say that
evergrande yes that property developer
in china with 300 billion in debt and
peloton are suffering from the same
thing
cash flow statement folks i tell you
everybody talks income statement balance
sheet but you want to see a company
that’s struggling look at their cash
flow statement
peloton has built a business and a set
of expenses
that needs that top line number to be
massive
peloton is raising a billion dollars in
hope that they can limp through to the
other side i suspect that peloton will
announce layoffs sometime next year
they had their time in the sun and
unfortunately they built a bloated
business
that didn’t understand that the pandemic
or health crisis
really was a once-in-a-lifetime event
can you imagine
i don’t know 95 percent of your
competition which is gyms
closing
and closing for a year
that is going to be the best time ever
for peloton
and they didn’t realize it now their
cash flow statement is bloated with head
count bloated with marketing costs
bloated with retail space
and they’re going to slowly die but
thankfully they have the ability to
raise a billion dollars in new stock so
at some point they’re going to see that
their cash is bleeding again and then
they will right-size the company it will
be painful
uh what else we got oh rent for single
family homes
single family homes again one rental at
a time
all of these things i keep preaching
it is going to be the asset of choice
wall street is coming here because they
can get above six percent return
rents are up 10.2 percent single-family
homes specific that is a national number
miami
i hope all of you have rentals in miami
i really do
the reason is is miami’s rent is up
25.7 percent
if you were renting for a thousand bucks
it’s now 12.50 if you were renting for
two grand it’s now 2500
and all of that increase when you have
30-year cheap debt falls to the bottom
line
folks i can’t scream this enough if you
want to change your life going forward
you need to use the gift
of 30-year cheap money
you need to get a single-family rental
home that cash flows day one
and then you need to hold on
the people that won the 1970s were the
people that bought in 70 and 71
it’s just that simple it is just that
simple
uh again uh
uh home builders homebuilders numbers
came out this morning they are feeling
confident they are feeling confident
even
uh when they um oh my goodness one of
our viewers just had a stroke three
weeks ago jeffrey feel better man i i
didn’t know i’m sorry
feel better jeffrey um we miss you out
here
uh man sorry buddy uh where was i going
oh yeah home builders
home builders feeling confident and that
is in the face of supply chain issues
uh lack of
employees
and lack of land
can you imagine being confident when you
have no shelter no food no water
i mean that’s essentially what
that’s just because there is no
competition
from previously owned home
higher prices
it is just crazy oh i had some more
numbers on rent sorry i
i wrote so much stuff this morning miami
again was up 25.7
phoenix up 19.8 percent
and then las vegas this does not make
sense to me but hey doesn’t make sense
to me las vegas rent was up
15.9 percent
man i got to get brian lebo back on the
show see what’s going on in vegas this
is crazy
ibm ceo out saying inflation fears will
will cause some chaos uh i think that is
an understatement and a half
uh and it’s interesting that they go to
the ceo of ibm for that quote it’s just
weird
do you know what the most priciest zip
code is in the america in america
this is this is crazy so this zip code
is about
10 miles
from where i’m sitting right now
it is the zip code of atherton
specifically
94027
if you want to have fun on realtor.com
or zillow go to 94027
and see some stupid price houses
the median home price median
median
7.5 million
that is the land of stupid
that is crazy
there was a report again a viewer of
this channel shared with me thank you
thank you thank you
the 100 priciest zip codes
49 of them no sorry i lied 47 of them 47
of them
47 of them were are in 45 minutes of
where i’m sitting today when i talk
about the bay area being stupid folks
that is an example 47 of the 100
priciest zip codes are within 45 minutes
of where i sit
live where you want
invest where the numbers make sense
thank goodness for fresno california
and then the final thing something that
is really annoying to me
uh is the concept about the wealthy and
them paying their fair share so i have a
question for you right now and i mean
this this is a this is a real question
who should we be more annoyed with upset
with
an entrepreneur who creates multiple
businesses provides technology that we
all like and need
that who is worth 300 billion dollars
give or take
or
a career politician
who comes from nothing and is now worth
nearly 200 million dollars
i know which one pisses me off it’s the
one that has never created a company
that is using their power and access to
front run or insider trade
and is now worth 200 million dollars
and if you don’t know who i’m speaking
of you can go look up nancy pelosi’s net
worth
and see just how upsetting it is
politicians need term limits
we can’t have
career politicians use the system and
access
to create multiple
nine figure networks no wonder they
never leave
no wonder self-interest through and
through
so again if you want to hate on someone
who is rich
i choose to hate on politicians
versus an entrepreneur who invents
creates risks their own capital
in wins good for him
uh elon musk bet on
red number two
over and over and over
yes and again this is not red or green
uh paul said don’t forget joe manchin i
think
i um
yeah same deal term limits this is all
this is not okay we the american people
need to hold our politicians to term
limits i don’t know what it is whether
it’s two maybe three terms
but get out go get a job geez
craziness so that’s what i got for you
today this is going to be a fun day we
talked to the lumberjack i think at
eight in omar at nine
and again let me know what you think of
the thumbnails i really like them uh
maybe some of you don’t maybe you’d
rather see our smiling faces
let me know i would love to hear from
i’m i’m spending thousands of dollars to
get these things created so i want to
make sure you like them take care
everyone and jeffrey take care of
yourself and jeffrey just for you i’m
holding happy in my lap
he was asleep but this one’s for you
buddy
ah
all right everybody take care