Are we seeing the revitalization of conservative civilization? All over the world has been a massive backlash against globalization, its leftist leadership, and its anti-cultural liberal values. And it's just the beginning. I'm Dr. Steve Turley. I believe the liberal globalist world is at its brink, and a new conservative age is rising. Join me every day as we examine these worldwide trends, discover answers to today's toughest challenges. And together, learn to live in the present in life of even better things to cover. This is Turley Talks. Hey gang, it's me, Dr. Steve, and, you know, what can I say? The Democrats are at it again. Now it looks like they're going to try to take possession of Trump's properties. I kid you not. The ultra leftist MSNBC is salivating over the prospect of New York Attorney General Letitia James seizing Trump's properties given his inability to secure a bond for the $464 million civil judgment handed down against him by Judge and Goron. Even Newsweek featured an article with the now-disgraced attorney, Michael Cohen, who claimed that all of Trump's properties are now up for grabs. They're all in his words, quote, "leveraged." So what's going to happen to Trump's properties? Well, here to discuss it and give us some clarity in all of this, is real estate extraordinaire and founder of Commercial Academy, Jay Scott Shiel. We've got several of our Turley Talkers, family joining Scott's Commercial Academy. They've been learning all about commercial real estate investing. Click on the link below to find out more. It's amazing stuff. We're talking life transforming stuff. Incredible. Scott, welcome back. Great to see you again. Dr. Steve, great to see you. Good to be back. And these are certainly insane, crazy, and unprecedented times we're dealing with today. They are, especially in your field of real estate. You are a leading expert on commercial real estate investing. You've been watching this New York trial unfold for months now. For sure. Given the trial theatrics, the left keeps throwing at Trump. How is this going to affect him financially? Can they actually seize his properties? How do you think this is going to play out? Well, the way that it plays out is several, there's several layers likely. Obviously not being privy to their private entity structuring in the way that they would protect these assets along with the financing and who ultimately pulls the strings. There's a lot that needs to get done. I know they would like to say that it's a slam dunk and that they're just going to be able to step in and seize assets. But you're talking about a roster of investors. There's likely a fairly long list of folks who would be irreparably harmed by that sort of action. The component of that is that they've got to deal with everybody fairly. So it's not as if this would be an asset that is likely 100% owned by Donald J. Trump personally. That's just really implausible, especially the assets of this size, stature, nature, complexity, finance. There's still debt on them, even though the loans that were in question are paid off. There's some new debt on there. There's no doubt about it. Rarely would anybody prudently hold on to an asset with no leverage because you're not earning any money on the equity. So my way of a quick example, if you owned a building like say Donald Trump and it was a $100 million asset, the value of that asset is going up and down no matter what you're doing with it. If it went up, let's say 5% a year conservatively, and this year's worth $100 million, next year's worth $105 million, that's great. But if you had no debt on it, if you didn't pull any of that cash off the table, that means you'd literally have $100 million earning a 0% return. And that doesn't make sense. So you would say you'd pull $50 million off of that and you'd put that somewhere else and then that would perform. But besides that, even if he owned 100% of them, there is zero chance that these assets are owned 100% in his personal name. So they're talking about piercing corporate veils. They're talking about invading the entities. They're talking about serious actions that have to go through many levels of court and trial. And to sum it up, because you know we're at a little bit of a tight timeline and we can dig in deeper, should you deem it appropriate, this ends up in the Supreme Court. There's almost no doubt about it. It gets appealed on every level. I know that there was recent scuttlebutt about the fact that Donald Trump and his organization has thus far been unable to procure the bond necessary to protect the assets that are potentially at risk. But, you know, that's only one step and that's only one layer. There's other scuttlebutt that says that he won't be able to file an appeal unless he runs it out. And unfortunately, when you're involved in real estate, especially dealing with the public and dealing with corporations, ending up in banks, ending up, let's say in a courtroom is not unusual. And I have never seen anybody, you know, not be able to appeal a case simply because they couldn't pay off a judgment from an opinion from a lower court. So that doesn't seem plausible either. Anything like this before? It just happened. It's no, yes. No one has seen it. In regards to what they tell you, they're making that up because it is unprecedented that there is no damages. There are no victims and you're going back and you're criticizing what is in appraisal, which is merely an opinion of value and opinions of value are just exactly that. They're opinions. They have to be validated by other folks, opinions. And that is what ultimately carries the day when you get an approval in, let's say, a credit department or a loan office of an institution. So look, the banks agreed that the appraisers' numbers were right. It was the lender agreed that it was fair. The borrower agreed that it was fair. They went out. They secured the financing, they executed with that financing. And then ultimately they paid out timely. There was no insinuation that there was lost proceeds, late payments, short sales, any of those things. They wanted to do business with them again. That's the case. He's a very profitable client. We thought, you know, yeah. So this is ridiculous, you know, and shivers up the spines of everybody who's in commercial real estate, you know, really nationwide, but specifically within the state of New York, this is going to hurt them dramatically for quite a long period of time. That's what I wanted to follow up with you on because right after the decision, you know, Leary came out and warned New York, this is going to cripple your real estate market. Grant Cardone has actually went out and said, don't invest in New York. He was very adamant about it. What do you think are going to be the effects of this decision on the New York real estate market? Well, it's already in trouble. The New York real estate market's already been hurting. AI has got everybody quaking in their boots as far as, you know, the size of stabs. And you can see the cuts already coming. People have really not returned back to the office corridor. And realistically, the real estate in New York was housing for job market. It was retail in support of business and commerce. And then it was the, you know, the office space for folks who were really the, let's say the momentum and the inertia behind all of the rest of it. So, you know, inflation is hurt, energy policy is hurt, taxation has hurt, expense past years have hurt, banking, you know, the increase in interest rates have hurt. Those things in and of themselves would have been bad enough. And then you throw COVID in with the, with the vacancies. I mean, right now, without the government propping up occupancies in the hospitality industry in New York by renting them out for illegals, they don't need devastated. So, you know, it's, the marketplace up there, it's, it's gloomy. Don't bet against New York long-term, but short-term, the folks that are running the, you know, running the operation up there are really doing themselves a lot of harm. Now, the second quick little piece to that is to say that as an outside investor, somebody who invests really nationwide has done deals in New York and around the, you know, let's say the greater metropolitan area, even leaching into, you know, some of the other states, this hurts because you know, ultimately, that even if you're out of a deal, you're never safe. They can now start, you know, go back and undermine commerce. So what this really is, is an attack on our way of life, our economic system of capitalism. You know, if somebody makes too much money, we were talking, I think, before we got going, you know, we don't like what Allon Musk did. So we're just going to go ahead and claw back his compensation package after the fact. These are truly clawing at the heart of capitalism. And that's really where we're, where we're concerned. Commercial real estate in and of itself is coming into major headwinds. The wall of maturities, the trillions of dollars that are coming due, the turnover in leases, we're acquiring financed assets from REITs and from CMBS debts at two and three cents on the dollar right now. It's never been like this, and it's only just begun. And New York being, let's say the former eight hundred pound gorilla with all that office, all that hospitality, reliant so much on the job markets, it's going to be hard pressed to attract a new business. Think of, you know, what AOC did when she rejected Amazon. Amazon. Yeah. I remember that. Yeah. Yeah. Crazy. And then she gets reelected. That's just, you know, you're kind of like people. Do you understand what you're doing here? The whole information voter, right? Yeah. Yeah. It is. It's crazy. Yeah. She calls some jobs and they say, okay, do it again. It's just so odd. That's where. Yeah. It just seems so strange to me that I was in Chicago not too long ago, and I noticed when they had their brand new mayor there, Brandon Johnson radical, you know, they had a choice. They had a runoff, a Democrat runoff, and it was basically a pretty sane law and order Democrat versus real radical kind of BLM Democrat. And they voted in the radical BLM Democrat, and I read about the political coalition that voted them in. And Scott, it's not just sort of the quote underclass, you know, kind of fall victim to a lot of that sort of Marxist talk. It's the upper class. It's the white echelon upper class. Then they formed this coalition, this woke coalition and then Tyson foods and caterpillar. They all leave. They all take off because of the, of the, uh, of the, uh, and our co tyranny that takes over where law abiding citizens get written up, you know, $100 fines because they're 10 seconds over the, the parking meter, but the guy, you know, right next to them is taking a crap on the homeless guy taking a crap on the sidewalk shooting his veins up with heroin, they leave them alone. It's just, they can't stand it anymore. And it just, it just seems so odd how self inflicted this is, uh, especially in, in these blue States. Well, what I would say to that, and you and I have had a lot of these conversations over the last several years is it's really not self inflicted. What we have is we have wolves and sheep's clothing that are masquerading as patriotic Americans who care about our way of life and want to preserve it. And look, I mean, we're a nation of immigrants. There's no doubt about it. You know, go back several generations. And that's our story as well. I know that's the story really for all of us. And so the idea is responsible immigration and cultural assimilation, right? We want to keep our heritage. We want to keep our traditions. We want to keep our family recipes and all of those things. But, you know, the way that it always has been is that, but when you're out in the streets, you know, you've got to follow the way that things are done in the communities in which you live. And for whatever reason, and there is a real reason, and I'm not going to take up our time during this financial segment to distract your viewers. But the idea for me is that we have a Trojan horse and it isn't TikTok. TikTok is its own animal, but, you know, I don't believe really that much in any of the quote unquote US based organizations anymore than I think they're sharing our data with others, you know, Google, Apple, you know, they know, they try and do their best. But, you know, they're all watching every step we make, and there's no doubt about it. We are dealing with, you know, a technocracy, and I think that there is, there's another level beyond, let's say, sovereign nations of control that is being rested right now. And Sean U.S. doesn't serve that agenda. It really can't. So as citizens, I think it's incumbent upon us to, you know, continue to raise our voices, to demand free and fair elections, and to make sure that only those who are paying their way, not meaning that folks who are born here and are naturalized citizens can't be represented. But look, you've got to have a stake in the game, you can't not be a citizen and start voting, and you know, to the extent that we get the ability to, our ability to, as taxpayers, get our representative elected officials to insist that our tax dollars, both today and the ones that we're spending well into the future, the trillions and trillions of dollars are thrown around, start to serve domestic interests. Not just because there's some ethereal vein or thread that runs through Ukraine and, you know, all of these other locations, of course, we have international interests. But when so many are suffering here at home, and our way of life and our banking system is at risk, the dollars that are being thrown around for stimulus and for foreign aid are the very dollars that can rebuild our infrastructure, can create meal jobs at home. And beyond that, can ultimately save some of the assets that have been thrown into the middle of traffic during COVID. Yeah. No, absolutely. I actually want to talk to you about bringing this home, as it were, in terms of how real estate in many respects functions, precisely what you're talking about. Again, what I love about real estate is its spatialization. It has, I don't think it is coincidence that Trump is also a real, you know, he's a real estate mogul and a nationalist populist. I mean, you know, he loves nation. He loves culture. He loves space and region and so forth, because it's real estate, it's not pine the sky kind of stuff. It is, it's real money in real time, in real space and the like. We've had, you know, I told you we've had several Turley Talkers join Commercial Academy. They've loved it. I know one in particular, who ended up moving from a hardcore blue state right around New York to a real solid red state. She used her real estate principles to find her dream home, amazing stuff. And gang, if you're interested, make sure to click on the link below, check out Commercial Academy. You can join as well, you'll, you'll love it. Just for us personally, I'm just, I'm curious on how real estate investments create financial security at the same time, it creates a kind of, you know, domestic security in our economy. It just, it seems, it seems like real estate is just this, it is this timeless value that people have tapped into for thousands of years. And it's not only able to provide a legacy for your family. It's also able to provide some financial stability to your nation or your town or what have you as well. It seems, it's, it blesses you and it blesses those all around you. Yeah, there's no doubt about it. It's, well, the first way that I like to talk about is it's a fixed asset. It's really an asset and it's, it's tangible, as you mentioned. So you can improve it without needing anybody else to, let's say, bless that, right? It's, you're dealing with a stock or if you're dealing with cryptocurrency or let's say you're dealing with a bond, like those things are subject to forces and factors that really are very largely out of your control, but in commercial real estate and real estate in general, it's a fixed asset and something as simple as a coat of paint can really improve it, right? So little things like that, and then it's insurable and then it's leverageable. So your ability to control 100% of the asset and maybe allow between the bank and a couple of partners to bring 80, 90, 95% of the proceeds necessary to acquire it now allows you to go ahead and create incremental value. So if I'm able to improve that asset, let's say over two years, I improve the value of that asset by 20%, which is not crazy. And I 10% a year over two years, I've taken my 5% and I've compounded that on the 100% value by 20%, which means I've really forexed my money. So that leverage is something that really isn't available in those other assets that we've talked about, I know some folks got into speccing cryptocurrency and that didn't pan out too well for them, but the values that are able to be acquired today in the marketplace is truly not only is it unprecedented, but there is additional shelters that are available for taxes based on a credit code. Again, it's easy to attract investment capital and once people get the understanding and get into an environment where people are used to investing dollars into those fixed assets, you now give yourself a little bit of a runway and you'll not only make money when you operate, you make money usually when you set the deal up, you'll get cash flow along the way and then those big pay days come at the end either when you sell the assets or you refinance the asset, if it's done through refinance proceeds, because it's a loan that'll usually get paid back by your tenants, you know, dozens or hundreds of them, it's tax free. So you get the time value of money today, you get to use it today and gosh knows the way that they're driving inflation up and up and up, time value of money matters. So you're able to buy cheap with leverage and defer taxes, that's a tough that's a tough career win, win, win, yeah, yeah, yeah, yeah, yeah, the way you can improve communities, you know, that's real. And there are many municipal incentives available that would allow you to let's freeze property taxes based upon jobs that'll be created by new tenants that you may be bringing to the market. So there's so many of those things that are, you know, that are going on right now, we've never been more excited. I'm a bit of a contrarian as you know, when things are overheated, I tend to be extremely cautious, and now that things have cooled down a little bit, and there's a little bit of uncertainty depending on the watershed of the election, that's when I tend to get a little more aggressive. And we've been, we've been really fortunate over the course of the last six months, picking up, you know, nearly a million square feet of additional space, wow, add incredible values, class A assets, class A markets, and then the leasing momentum has really been there. And last piece that I'll say is a lot of people really worried because interest rates were starting to trend towards 9%, even on stabilized assets middle last year. And today we're back in the upper sixes. So that's been a little bit of relief, which is kind of helps spur things on. And most of the big boys, they're dealing with legacy assets that they probably got over leveraged on. Yeah. Yeah. Yeah. Can you give us a little insight, a little behind the scenes to your commercial academy? So again, if you just click on the link below, you're gonna be able to register for this. Can you dive in a little bit, talk more about what Turley Talkers could expect from you there at the academy? Well, listen, you know, Steve, we've talked about it this way and appreciate the opportunity to talk about it. We believe that the currency has a little bit of risk to it. There's no doubt about it. We believe with it, whether it's inflation, whether it's, you know, bricks or cryptocurrency or XRP or CBDCs, you name it, there's just a lot of risks there. And so at the commercial academy, we teach people how to take even a small amount of investment dollars today and get it fixed into an inflation resistant asset class. So by buying in today, you get that. So we teach how to evaluate it. We teach how to put together a team to take it down. We can allow you to come in passively or actively. You're gonna learn how to do deals in your own backyard. You're gonna learn how to deal in office, retail, apartments, you know, industrial assets. And all of those asset classes, we have experts in nearly every state in the union throughout Canada and in over 30 countries around the world where we're gonna be able to show you how that asset behaves in that marketplace. Over the course of one three day weekend, you're gonna learn a ton. It's case study based. You break the stuff down and make it real simple. It's only a couple of numbers, you know, about six or seven numbers in a straight column. And it's, you know, simple edition and then a little bit of division or multiplication. And now you understand whether it's worth your time. And we also teach people to start appropriately. You know, you don't have to get into some massive asset to break the mold. But it's something that people can do it in their spare time without leaving the security of their present financial, let's say, engines, whether that's a job, a small business. You can add this component to what you're already doing just two to five hours a week. And we always tell people it only takes one deal, one time to change their life forever. And what we're talking about is in 12 months, either a quarter million to a million dollars in profit on that first deal. And that's real. That's happening and happening in the lives of tens of thousands of our clients over the last 20 years. Astonishing. It is. It's a sign I've, and I've just, I've only heard magic from it. Gang, if you're considering taking this courageous step into commercial real estate investing for the security and legacy it provides for your family and for your community, click on the link in the video description below to join Scott Shields commercial academy. Again, we've had so many trolley talkers, try out Scott's program and they love it. We love their lives. I mean, they are so well received into our environment. I mean, it's capitalist environment, you know, we believe in the sovereignty of nations. We believe in the sanctity of the individual who puts in the effort and takes the risk reaping the rewards. And we also know that there's no way in hell we're going to let this nation slip away under our watch. That's right. Yeah. I love it. Absolutely. Click on that link and you're going to love trust Scott and his expertise and his amazing track record to teach you exactly what you need to do to thrive even during times like these. So don't hesitate to join. As a matter of fact, you just heard Scott. These times are actually the best, you're right to get to get involved. So check out commercial academy. You will not be disappointed. Scott, thanks so much for helping to bring some clarity is crazy and same time. We'll have you back real soon, man. I'm looking forward to it. And again, let everybody out there, don't be afraid in the end, we win. Know that. We win. Amen. God bless. Great. Thank you. Thanks so much for listening to this episode of the Turley Talks podcast. Don't forget to subscribe, leave us a five star review and share this episode with your friends. Help us defeat the fake news media and rank us the number one news and commentary podcast all over the world. Come back again tomorrow for another episode celebrating the rise of a new conservative age. a.m. (upbeat music) (upbeat music)
