0:00 he thought he was Doctor Strange so he's walking around calling people correct and then he walked up to this brother and WRA forever and then handed him something this guy is this guy Shane Chi no Captain America huh yeah Hispanic Captain America and then but he think [Music] he welcome back to another episode of careful boys today we have Mr what's mortgage men W thank you for coming back to us sir oh thanks for having me yeah man you got a lot of big changes going on you we talking earlier about your business and how a big move just happened over there right yeah uh we pretty much I bought out my other business partners how many did you have before I had two so I learn never incorporate until you're really
0:51 ready to do business with them cuz getting people out of your business so hard like getting them in is easy getting them out is hard so you just add them to your articles of organization correct and then take them out you can't even take them out their permission and they can sue you this you have to actually have a formal like contract to exit out with these other you you have to vote depends on how you set up the voting there's like now you have chairmans you have uh you have board members and then you have to vote and then you know it's how you set it up in the beginning so one guy we bought out pretty much it was like half a million bucks to get him out the other guy damn we're in that Trends right now he actually so I can't say this in a specific way he allegedly he took money he shouldn't be taking so we're still going through it you can't say the ew yeah how much he's uh you know what I have to pay back and what we had to spend moving forward with this guy was another half a million but he went crazy
1:42 when he got removed he literally went crazy went to New York he had a 5150 what's that mean that means he got arrested for being crazy in the streets he thought he was oh that's a police code yeah he thought he was Doctor Strange so he's walking around calling People Portal spider correct yeah and then he walked up to this brother and forever and then handed him something so they got them on the spot and pretty much they took him in they kept him for two weeks so the the they cut him in New York but this guy is not a brother himself right no he's not he's not and this guy is this guy Shan Chi No he a Captain America huh yeah a Hispanic Captain America and then but he think but he thought he's Doctor Strange so he's out there so now we're back and he's like to fight for the company but of course there's all this documentation
2:33 that this guy went crazy but before he went crazy he was taking money he shouldn't be taking then he's blaming the the franchise we were at and then they're dealing with him too so when you buy out your partner for like half a mill does it what does it feel like does it feel like you're getting a deal or does it feel like man I don't even know if our company's worth this much I I got to pay you half a mill like uh they believe it's worth it so you have to just pay what so you have to pay yeah so but do they have to prove like with figures that hey it is worth it uh if it depends if you want to drag it out depends on how quick you want to exit uh you want them to exit so typically there will be an appraisal done on your on your business and then on the volume coming in and out and the Instagram page like we social media so it's Instagram Tik Tok they evaluate all that they see the revenues coming in if you want to go through all that and you know it's worth way more hopefully this air before like
3:23 he's already paid out he's already paid out he's already he's already paid out cuz like it's like this like hey I need to be a million something let them take the deal first before the appraisal gets done if you know it's worth more don't let the appraisal get done if you know it's worth more like dude trying to settle fast settle fast settle fast the second guy is a lot smarter he's the crazy guy actually SM his beautiful mind is a lot smarter he's like I know this is worth it but he put us on this debt but he knows as soon as that debt ends December 20 2025 he's sitting on a gold mine so I Tred to close him out already he wouldn't even though I had to pay out his debts that he took on you know wow he's not being he he's not moving like can you so you know how like sometimes um you can uh kind of like get power of attorney from your parents cuz they're going like dementia seeing out all that and then you're just like yo they can't be behind
4:13 the wheel they can't use a bank account can you do that for partners too you can do that so now you have to look at when you want to buile somebody what's the road of less resistance with cost and time what's going to tie down your time so since I took over the business like 3 4 months ago our content has gone down cuz I'm focusing on running the business and then fighting this guy do I just want to give this guy a chance I was wondering why you guys fell off thanks just kid no we did we did fall off like we started I started regurgitating content things like I didn't care I didn't focus on the consumer anymore no that's the true though like he's true like I didn't focus on totally just Kidd but your reaction was no I didn't focus on the consumer anymore I focused more on trying to make money I'm like all right let me generate enough lead let me generate enough lead I stopped caring about okay I got to generate enough leas to pay off this guy yeah cuz content doesn't seem that important anymore you're likez a way bigger problem yeah I like and then when you do that you lose the people who are following you and
5:03 then of course like a dumbass I'm like let me get more virality talking about politics which I know I'm not going to talk about but did that work that was a horrible idea I lo I started losing followers like crazy I didn't know you were this you were that you know depends on both sides like I failed I actually really liked your daily uh interest rate updates I don't even know half the things you're talking about like let's get into it and going to close go okay let go I'm like this tight I don't even know it is but I like his content yeah I like he's learning so much you learn a lot when you put out content you know so but now it's like I'm going to go back into the content but we have to settle like what is this guy what is it going to cost to buy out this the second guy I've already paid out paid off most of his debts now what does it cost next so now you have to think like so that's why I don't like X-Men money and he's just like Xmen bucks great how long how long
5:56 were you already getting the inkling that you're like I need to like Buy my partners uh the the first guy the the year like last year um it's probably December 2000 or sorry October November 2023 when it just wasn't making sense financially and when you start hey like a lot more is coming in than what's or what what's coming in what's going in my bank account is not matching like and it's like okay well let me maybe because it's rough time cuz mortgages there's rates involved right oh we got to we got to grow or like we have to expand and then like it doesn't make sense so him we just that guy was a lawyer never do business with a lawyer he's more reasonable hey this is not making sense for me let me buy you out okay cool like here's a dollar amount we went back and forth a little all right cool let's take it run the second guy he's in the mortgage business too so he knows like okay this is how much the company's making I will not settle and then once
6:47 we removed him for pretty much allegedly mismanaging funds uh now we see like cool like how was he going to take to buy out this guy now D so it's it's it's difficult how many years you been in business with these with these guys uh so we were working together for four or five years then we incorporated in 2021 and once we incor that's why I'm saying don't incorporate yeah it's better that hey when the money comes in through this LLC we're going to split the money and pay it to ourselves we're not going to incorporate ourselves did you ever do content in the past where you were like make sure to incorporate with your friends and bu I actually thought about that I actually thought about that like um that I thought about like you know see a lot of new entrepreneurs especially Asian like nowadays more people are creating side hustles or they're finding other ways to make money because want to get W anym because of taxes so I wish I I would put together I think I'm going to put together content so that people who are going to do business kind of
7:38 understand like hey avoid getting hustled so for for you you you basically made a LLC together with them but you're advising to just make an LLC with yourself and then pay these guys out based on what they basically eat what they kill correct okay and then of course if they do x amount you can set up a timeline where they can get an override on whatever you produce for season and then it can like you can you can modify that at least it's your corporation that you own that you don't you like fending off other people was there any um skin in the game did they put money in uh so the guy who the one that we're trying to get rid of right now he didn't put money in but he got other people put money in oh he found investors I see but he created an illusion that we needed so many investors it's kind of like you create your own problem but then you solve the
8:29 problem so you think guy's a hero fer wow I see fizer fizer wow so that's what's going on with the business so now the business is pretty mellow it's doing good but just getting rid of these guys is like the what do you think what do you think that dude's final price is going to be is it he it's half a million he wants it's just straight up cuz he knows the other guy got the half a million so they they're like they're the reasons why the the partnership went back cuz they were like two brothers that competitive brothers so if this guy got half a million I want half a million okay but they didn't they didn't get get along they didn't get along that's so funny and they brought that family beef with you correct and then I'm dealing with it and oh they really brothers no they aren't real brothers but they they are really close friends or competitive close friends and then I see so so one of them's Korean one's one's Caucasian the other one's Mexican same close
9:22 enough close enough to reinforce my ster is this your first partnership or did I've had other partnership before I'm learning now like I'm going to work at agreement but not partnership any no more partnership wow because unfolding is expensive dude lawyers they reply back to an email like so when you write an email you want to thoroughly write this email out don't do a quick email back and forth like CH Ching CH Ching CH Ching CH that's money right there yeah oh I didn't think about that yeah man lawyers that ████ adds up huh cuz they'll charge you by some of them will charge you by the full hour if they're nice others will charge you by half some will charge you by the quarter out which is 15 minutes yeah wow so if they if they're like one of those that's like $5,000 an hour even 15 minutes could be 1,500 bucks which is ████ crazy it's good rate and the bigger the problem the better lawyer you want to have and then so you start getting these crazy ass ████ lawyers you're like God damn dude and then but if they
10:14 think like if the this guy's crazy enough if he can convince a lawyer hey this thing's worth a lot you can get a par portion of it and if they can see that there's a portion to be to get dude they're going to co they're now they're going no cost of them and they're going actually like guns blazing so he tried that in the beginning then he um with coming out of the company I was I was with I was franchising with and when they found out they didn't have a case they backed off but the first couple weeks oh bro they were like sending you stuff left and right they're so aggressive yeah you're like oh my God like take just take give it to me I'll take it right now you know cuz like they come at you like GS blazing like that's one thing they don't prep you for as an entrepreneur is lawsuits is like how ████ scary and crazy and like I don't know some of these lawyers they play so ████ mean yeah and then you get these legal documents you get these you get
11:04 served you're just reading these you're just like what the ████ am I going to jail it's like no no no you just got to pay like hundreds of thousands of dollars and I'm like what the ████ why what did I do and then and then you talk to other lawyers and they're like oh that fool's bluffing I'm like how do you Bluff something like that dude sometimes the lawyers on your side suck yeah yeah they get bullied most of the time oh dude my my my uh so I got yeah dude when you're in business you get Su like so now when you hire someone you run through this game like okay how do I 1099 legally okay you cannot give him a schedule you cannot give them equipment you have to go down this list all right cool they they can be labeled as 1099 cuz if not you label them as 1099 with their W2 even though they got the money they spent the money but they can sue you for labeling them incorrectly wow so now like I went to two laws my uh lawyer when I had to deal with labor law was got punked and I'm sitting there going oh my gosh this guy's getting this girl
11:54 is getting punked and I had to paying $30,000 to her and then another 450 to to the lawyer just because um it's called in California it's called a retaliation Clause so if they do a bad job and you have a talk with them or they say they complain about you as an owner and you cut their hours you cut you do anything to change their pay that's a retaliation within 90 days they can come after you for that oh cuz they said that your actions were motivated by ill intent correct oh and then and then another one in California which is like I think such an awesome state I'm just so let's say you quit a job MH but I try to call you send you your last check you have 48 hours to send it if you don't respond if I don't mail it out to the address that's on your uh application yeah every day you don't get that money I'm I'm paying it I'm paying penalties
12:44 I'm paying fees so if you're smart you keep dragging it on well we knew this girl didn't live there but she used her her mom's address we should have just mailed the damn check there we did it she dragged it on for 40 over 4050 so she understood how to no you know oh my God being self-employed is hard but you know that's why these are things like they don't teach you guys being self-employed yeah having a team hiring people all that stuff is crazy man they don't really even school doesn't prep you to be an employee like I remember right out of high school like working or even during high school it's like it's so different from what your teachers tell you and everything and then you're just like man what the ████ I feel like the two best skills to have going into entrepreneurship if you can is having an accounting degree or a law degree but then even then you're still going into a blind cuz you know laws change every year oh because of this case so now in
13:34 like 2023 now this happens or this case now 2025 so you not only do you have to come in with kind of like the skill set but you still have to be updated on laws cuz s███'s changing all the ████ time that's kind of dumb it's like majoring in social media in 2004 yeah this is what you do in Myspace this is how you optimize Myspace HTML your top eight matters okay guys so when you first had the feeling of like I need to buy these guys out how much time passes between that first initial for sure feeling that these guys got to go and then actually doing it I think about four five months because you think about it and you're like do I really want to do their job okay what's the company making what am I taking home is it enough to go to battle with this person financially okay I got to go to war with them also if you take over the
14:24 company if since they're still owners what they can do to kind of ████ your ████ up is that they can call audits let's say we own a company together but you kick me out but I'm still owner I want to see an audit today you know what it's been two weeks now I want to see what those documents look like I want to see that cuz I'm the owner of the company so you're too busy being their indenture servant getting them things oh for accounting I want to see this I'm a shareholder I I'm able to see it as you're trying to fight and get rid of them they're like making more so you have to like take all that in and go like is it worth it or not or should I just shut the ████ up and keep going or do I build something else like these are the things you rle with and then you finally like in any business before you want to let something go you're like do I have an exit strategy now I got my wife I got my kids I have a good quality of life do I want to ████ all that up to like go then then you decide you already learned that last a long time correct
15:16 was um quitting everything and starting from like resetting an option for you like why was buying out the best option versus like just poaching your own like clients and then going on I think if I didn't have my my wife and my son I probably would start over so I'm thinking about like cuz think about I'm making good money now and it's like I'm continually making good money do I want to disrupt this and mess up my kids life and my wife's life you know like she hasn't worked since 2014 do I want to have her start working again then of course now we're working together we're arguing again we finally got past that you know so that's why everyone says stay a single man oh yeah that's why everybody says if you have a kid leave your wife that's why everybody says everyone says it once you have a kid leave your wife what about the did did the
16:06 conversation ever come out about you being the one being bought out oh but I'm the face of they're like I want buy me out like I told them like you want to buy me out buy me out well how could they wouldn't be able to do that yeah correct but I was willing them but what if you gave them a fat ass number like 10 million or some ████ so there was so one the doctor strange had someone else who was willing to buy me out but then they wanted me to stay but then oh that would have been worse cuz they're using your brand and they're going to run it to the ground yeah correct do that so they would yeah so they Doctor Strange found somebody cuz they're like hey cool how about I buy you out instead like you know I don't know if he's going to have like Iron Man to buy me out or who he got or stanlee I don't know whatever but but he but it just wasn't it was like a good dream but it wasn't okay you know damn what's your buyout price if they were
16:57 like we'll give you whatever you want oh if someone gave me 10 million right now taxfree I would go but then you have to stay on I would stay on yeah what if they replace you with a M but 10 guaranteed up front yes if they replace you with a man that looks just like you and he's faking his accent like a bad Vietnamese accent would you be would you come back and be like f they find a guy from Vietnam so so this cuz the partner is a lawyer say so allegedly the guy we did buy out already he was able to keep some part of the brand name cuz he's kind of like if they say the wrong word it might go to my page instead he has an influencer who was V yeah so he had it down already so he's a lawyer in the B so like he got a couple like he got some of our business because they thought they were doing business with me I thought I was like I don't know if it was likess or whatever
17:47 was you yeah they like he he started doing some business with it yeah damn there's no limit man isn't that crazy like how do you go and fight a lawyer cuz it's like they they don't don't have to pay themselves oh they can keep going to court they and they can what they do is they send one email at a time and they get the other lawy to respond and like that point just racking up your bill so it's like you're not the first person that told me don't start a partnership with a lawyer like I've heard that so many ████ times they just drag it out cuz they know the game too well huh yeah way too well that's really sad is he the first person that you ever heard say don't have kids or don't have a wife don't have kids don't have a partner with the lawyer don't have don't have a partner yeah you should not it's kind of like you know when they they talk about in uh like if you're a police officer if you have a wife and kids don't let the streets know about it same thing don't let the other part don't let the streets know about
18:37 your stuff because when they do then they know okay this person can't give up because they got bills to pay there's no way this guy wants to go to war this guy's got too much at risk yeah luckily we're airing it all out on JK news right now well I'm already get him out I like to meet people I work with family you don't you don't like that I like to yeah because now you know like okay this person's working home well I thought this guy had you know Doctor Strange has his wife taking care of his wife's mom and four kids and thinking there's no way this guy is a shady person but because of that he's going to be he's more desperate more desperate so I'm thinking okay this guy is going to go like he's going to shoot for this the moon you know I like to see um how the kids interact with the parents cuz you can tell if they don't love their parents and then their that means you're a good employee oh sorry that means their parents are probably horrible people
19:29 or they just dedicated their work I'm a scumbag your cats hate you huh they ████ love me we talk about
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