1 00:00:02.610 --> 00:00:05.190 Sean Murray: Hi I'm Sean Murray 2 00:00:05.460 --> 00:00:10.140 Johny Fernandez: and I'm Johny Fernandez and thank you for tuning in to deBanked. Sean, happy Tuesday 3 00:00:10.140 --> 00:00:11.050 Sean Murray: Happy Tuesday 4 00:00:11.050 --> 00:00:13.540 Johny Fernandez: It's great to see you. Like my Freddy Krueger shirt? 5 00:00:14.140 --> 00:00:18.970 Sean Murray: I do, I do, I do. I'm a little scared you're gonna come at me in my dreams. 6 00:00:20.740 --> 00:00:25.510 Johny Fernandez: I love, you just reminded me did look like Freddy Krueger a couple minutes before we went live 7 00:00:25.720 --> 00:00:29.170 Sean Murray: Yeah he actually he asked what i thought it was sure and i just thought Freddy Krueger. 8 00:00:31.280 --> 00:00:39.680 Johny Fernandez: Alright, well let's get to it let's jump right in so first thing. Sean, there was an article over on Leasing News about leads 9 00:00:39.710 --> 00:00:46.640 and facebook. So let's talk a little bit about that and then we're going to give our opinions about it because you and I see eye to eye on it and 10 00:00:46.640 --> 00:00:54.440 we disagree with this article that was posted and it was posted it looks like a couple years ago and it may have been you know refurbished and 11 00:00:54.440 --> 00:00:55.640 reprinted so 12 00:00:55.870 --> 00:01:03.520 Sean Murray: Yeah. Yeah, so exactly so there was an article that was in Leasing News as leasingnews.org that's the leasing industries sort of 13 00:01:03.520 --> 00:01:09.880 main online publication and they had an article out today it actually looks it might it looks like it might be a little dated as you mentioned 14 00:01:10.120 --> 00:01:20.560 but the premise was that facebook ads don't work. That they don't turn into leads and that likes do not equal leads and that if you get all 15 00:01:20.560 --> 00:01:28.000 these likes is not going to turn into any business for you. Therefore, it was it was like a therefore type of story that you should really 16 00:01:28.000 --> 00:01:36.700 concentrate your marketing efforts on paid search like google, bing, etc and just disregard facebook. It didn't it didn't even offer any merit it 17 00:01:36.700 --> 00:01:44.290 actually said don't drink the kool aid. It said that facebook for finance doesn't work and I was kind of shocked they kept waiting for the 18 00:01:44.290 --> 00:01:53.680 part where I was going to say unless this unless that or you know if you but that part didn't come. It just made me think about how kind of off 19 00:01:53.680 --> 00:02:01.330 the mark I thought it was because it may be true that like doesn't turn into a lead but there's many different ways that you can advertise on 20 00:02:01.330 --> 00:02:09.820 facebook. I have personally never advertised the deBanked page to get likes. I actually have never thought about likes when it came to paid 21 00:02:09.820 --> 00:02:17.860 advertising. That was never the end goal. I've never just run as being like hey do you like us to a bunch of random people. And I think if 22 00:02:17.860 --> 00:02:25.090 you're looking at facebook marketing as hey choosing a demographic and then hoping that these people are going to consume your product whatever 23 00:02:25.090 --> 00:02:33.250 it is you sell you're probably going to be you're probably going to be disappointed and you should focus your money elsewhere for sure. But 24 00:02:33.340 --> 00:02:43.510 facebook marketing and social networks in general offer a lot of other different ways to market your product or service in fact I have used, we 25 00:02:43.510 --> 00:02:51.490 have used facebook marketing before. You and I have each used it, you know, in different capacities and so you can actually use social 26 00:02:51.490 --> 00:03:00.880 networks to target people to target existing leads throughout the entire sales funnel so if someone has come to your website and they filled out 27 00:03:00.880 --> 00:03:10.000 a form and then he never heard from them again well you now have enough information to advertise to that prospect on facebook or another social 28 00:03:10.000 --> 00:03:16.990 network and so when they go on to facebook all of a sudden they're reminded about you. This is someone who already knew who's already 29 00:03:16.990 --> 00:03:24.100 encountered you. they've engaged with you only a little bit this isn't a random person. So you're kind of using facebook to to kind of move that 30 00:03:24.100 --> 00:03:29.830 lead along. You can even do it for people who didn't even engage with you at all they went to your website they clicked around and then they 31 00:03:29.830 --> 00:03:36.130 said I don't know and they left. We don't know why, right? But that's someone who's better than who's never interacted with you in any way 32 00:03:36.130 --> 00:03:42.940 shape or form they went you to website, they read, they left, we don't know why. You can target them again on on facebook or other social media 33 00:03:43.690 --> 00:03:52.030 and it's really potent. It works. Or you can even have people who are close to the finish line and they're not answering your calls or emails 34 00:03:52.030 --> 00:03:58.990 and you know you've sent out the emails, you you've left a voicemail, not working, guess what you can light them up on on facebook or other 35 00:03:58.990 --> 00:04:07.150 social networks and they get an ad that's that can be heavily tailored. That says hey you know almost there you know let's you know let's go 36 00:04:07.210 --> 00:04:15.400 it's not gonna be like hey so and so let's close the deal but you can actually target an actual subset of leads and say these are people we're 37 00:04:15.400 --> 00:04:24.220 very close and tell our message to just those group of people so that when they go onto facebook they see a very highly tailored message that 38 00:04:24.220 --> 00:04:33.700 makes them think, I should move forward with this. So in that regard I think facebook personally is really really good whether it's B2B or B2C. 39 00:04:33.730 --> 00:04:39.310 So I would say if someone says don't drink the kool aid facebook for financing the work i'd say that is completely wrong. That's my opinion 40 00:04:39.370 --> 00:04:46.570 Johny Fernandez: Yeah. No, I agree. I agree. And i've used it. I am a real estate broker. So broker like you guys but in real estate... 41 00:04:46.600 --> 00:04:49.120 Sean Murray: oh you're a broker? 42 00:04:49.150 --> 00:04:50.110 I'm a broker. Yeah. 43 00:04:50.110 --> 00:04:57.310 Whoa, whoa, whoa, whoa, whoa. You just gonna throw that in there? Whoa, whoa, whoa, what? how long have you been a broker? 44 00:04:57.340 --> 00:04:59.770 Johny Fernandez: Almost two years. So- 45 00:05:00.370 --> 00:05:01.540 Sean Murray: What do you broker? 46 00:05:01.750 --> 00:05:08.380 Johny Fernandez: Real Estate. I'm not brokering business loans. I'm brokering more real estate. 47 00:05:08.410 --> 00:05:11.680 Sean Murray: Okay, so doing you're doing is a commercial real estate or residential real estate? 48 00:05:11.700 --> 00:05:12.310 Johny Fernandez: Residential. 49 00:05:12.310 --> 00:05:17.950 Sean Murray: Okay, by the way I knew this, this wasn't a complete shock. This is the first time we've ever talked about it on here. 50 00:05:17.950 --> 00:05:20.690 Unknown: [cross-talk] 51 00:05:20.690 --> 00:05:22.100 Sean Murray: Johny Fernandez, the broker. 52 00:05:22.100 --> 00:05:28.990 Johny Fernandez: For Real estate broker, NestSeekers, so I'm with NestSeekers. And something I've learned early on in my career is that, 53 00:05:28.990 --> 00:05:35.740 you know, you have to use all the platforms and Facebook, for me personally, it's given me a lot of success, because not only can you do 54 00:05:35.740 --> 00:05:43.630 the ads, you have marketplace, so you can use all these different avenues on Facebook, to target clients, to get clients, and to kind of 55 00:05:43.630 --> 00:05:50.890 wheel them in. And then it's up to you how you use it. But I've seen success, because I think we were talking at the end of the day, that 56 00:05:50.890 --> 00:05:57.520 people normal people go on Facebook, yes. Like in the article, it says, you know, they do communicate with family members, with friends. But 57 00:05:57.520 --> 00:06:04.420 also, it's really important to emphasize that people also want to get good deals, they want to see what's out there. And Facebook has 58 00:06:04.420 --> 00:06:11.890 everything. I mean, it's been, you know, in use for like, a little bit less than two decades. So it's almost, it's up there. So it could be 59 00:06:11.890 --> 00:06:19.000 used for the day to day and people are always searching. And that's one of the avenues they use. I think, right now, obviously, social media, 60 00:06:19.000 --> 00:06:25.390 there's different platforms, but that's still the original one. And whether you're, you know, in your teens or not so much in your teens, 61 00:06:25.570 --> 00:06:33.640 you know, 20s, 30s, 40s, like, everyone still uses it to some extent. And I think it's, it's, I don't think it's fair to say you should cross 62 00:06:33.640 --> 00:06:42.850 it off completely. You know, you definitely, I definitely still use it as one of my tools in my tool belt to gain clients. Yeah, I agree with 63 00:06:42.850 --> 00:06:50.740 you. And I agree, like it shouldn't just be crossed off. So I respectfully do not agree with this statement. Because whether you don't 64 00:06:50.740 --> 00:06:57.430 get as much likes, you know, and likes, obviously, may not always equal leads, but there's always some type of lead generation that can come 65 00:06:57.430 --> 00:06:59.920 from an avenue and a platform like Facebook. 66 00:06:59.990 --> 00:07:06.680 Sean Murray: Yeah, I mean, I've never even thought about likes when I was doing advertising. I don't care if they like it, or don't like it, I 67 00:07:06.680 --> 00:07:14.240 literally just want to get in that customer intimate, personalized way on their phone. You know, when they when they're not thinking about me, 68 00:07:14.240 --> 00:07:20.420 and now they're thinking about me, somebody who already knows who I am. And I'm trying to close them. This is, this is one of the best ways I 69 00:07:20.420 --> 00:07:20.690 can think of. 70 00:07:20.690 --> 00:07:29.060 Johny Fernandez: Yeah. And the thing is, it's free, at the end of the day you're not paying? Well, let me rephrase that. It's not as expensive 71 00:07:29.090 --> 00:07:40.370 as other marketing tools that you have. So it's affordable, and you can actually get a great ROI. You know, you cough up 100, $200. And in 72 00:07:40.370 --> 00:07:48.800 return, you can gain, you know, a couple $1,000. So you definitely get it's a great ROI. It's a great avenue at the end of the day, I think 73 00:07:48.800 --> 00:07:57.170 everyone knows Facebook. And if you don't have it, your mom has your dad has it, someone has it that will use it. I still believe that Facebook 74 00:07:57.200 --> 00:08:04.400 is still very usable, whether it may not be with the younger generation, but my parents use it quite often. And they're like, Oh, hey, I saw this 75 00:08:04.400 --> 00:08:09.830 on Facebook. You can, we can buy X, Y, and Z and everything's on Facebook. So 76 00:08:09.840 --> 00:08:17.280 Sean Murray: Yeah, you know, I hear about people getting a list of old leads. And they're like, Oh, well, we'll call them up and ask if they're 77 00:08:17.280 --> 00:08:24.270 still interested. Or, you know, there was a buyer list of emails is something that was blast them away and hope to get something out of it 78 00:08:24.270 --> 00:08:31.470 or they're old-They're old leads, you know that they came to their website and email those people doesn't have to be random people. Well, 79 00:08:31.470 --> 00:08:38.880 you could do it a different way. You could upload that data into Facebook, legit, upload that upload into Facebook, and they'll see you 80 00:08:38.880 --> 00:08:46.050 in their feeds. So maybe they're not answering your calls when you do that call, but they have a voicemail from you. And then when they go on 81 00:08:46.050 --> 00:08:51.240 Facebook, they see you. And now they're like now they're thinking about you. before you were just leaving a voicemail and like I don't know who 82 00:08:51.240 --> 00:08:58.410 that is, or they got a random email, but they got 10 million emails and they got lost in spam. But now they're seeing you on Facebook, too. You 83 00:08:58.410 --> 00:09:01.020 have to, you have to include it. You'd be crazy not to. 84 00:09:01.020 --> 00:09:08.460 Johny Fernandez: Absolutely. And it's it's, I think it is. And we've talked about just the marketing aspect of it, like you can get just so 85 00:09:08.460 --> 00:09:10.800 much out of it at the end of the day. 86 00:09:10.800 --> 00:09:12.100 Sean Murray: Yeah. 87 00:09:12.180 --> 00:09:16.020 Johny Fernandez: Yeah, I think you and I both agree that we disagree with that article. 88 00:09:16.050 --> 00:09:22.980 Sean Murray: Yeah. So Facebook for finance, totally. Facebook, or any type of advertising. I mean, I think everyone should be doing it. 89 00:09:23.370 --> 00:09:28.620 Johny Fernandez: And at the end of the day, whether you're brokering real estate or you're brokering loans, whatever type of brokering you're 90 00:09:28.620 --> 00:09:32.700 doing the end goal is to close that client and bring home the cash. 91 00:09:32.730 --> 00:09:33.300 Sean Murray: That's right. 92 00:09:33.300 --> 00:09:41.670 Johny Fernandez: So and this will be a limited, you know, you're not using that much money and you get that investment, that ROI. You get 93 00:09:41.670 --> 00:09:45.600 them you get you if you do it correctly, you will get your money back and more. 94 00:09:45.780 --> 00:09:47.430 Sean Murray: True words from Freddy Krueger. 95 00:09:47.460 --> 00:09:48.000 Johny Fernandez: How you doing? 96 00:09:49.410 --> 00:09:58.140 Alright, so let's jump into the next topic, Bitcoin, PayPal, it's become popular, obviously, especially this year. So Sean, let's talk about the 97 00:09:58.230 --> 00:10:01.710 latest news and the updates with Bitcoin and PayPal. 98 00:10:01.810 --> 00:10:11.170 Sean Murray: Yeah. So it came out this morning PayPal announced that you can now pay for products online using your crypto. And this is different 99 00:10:11.170 --> 00:10:19.180 from what they had before before you were allowed to buy and hold crypto on their platform, but you couldn't use it to pay for things online. 100 00:10:19.420 --> 00:10:28.330 PayPal is already, if I'm not mistaken, the number one or number two most pop online payment method in the entire world. So the fact that you 101 00:10:28.330 --> 00:10:37.840 can now use it to you can now use it with crypto is pretty revolutionary. I think. Because if you're a an online store, any type of 102 00:10:37.840 --> 00:10:46.660 e commerce business, PayPal is generally an option that you accept, you can take credit cards today, or you can take ACH payments or whatever 103 00:10:46.660 --> 00:10:52.870 the customer wants to use, they can use because they're doing it through PayPal, and then you as the merchant of the business, don't need to 104 00:10:52.930 --> 00:10:58.840 worry about it, how they're paying, whether it's whether it's ACH, whether it's your bank, whether it's credit card, it doesn't matter, 105 00:10:58.840 --> 00:11:07.390 PayPal handles all that all that for you. So the same thing can happen now, where this customer, for whatever reason wants to pay with crypto, 106 00:11:07.690 --> 00:11:16.750 you don't need to have some sort of crypto receiving, you know, shopping cart, you can just accept PayPal, like you normally do. And PayPal will 107 00:11:16.750 --> 00:11:25.570 actually pay you in cash, the PayPal is not going to pay the merchant in crypto. So that's that's the one caveat to all of it is not like, Oh, 108 00:11:25.570 --> 00:11:32.890 great, you know, now you can get Bitcoin sent to you, you're like you like a great, I want to sell my you know, my shirts and my online store. 109 00:11:33.040 --> 00:11:39.280 But I don't want to get all this Bitcoin from PayPal, that's not gonna happen. What's gonna happen to that PayPal is actually gonna pay you the 110 00:11:39.280 --> 00:11:45.640 cash. And so the entire transaction is settled in cash, but the person doing the purchasing, they can actually use their crypto. So that's 111 00:11:45.640 --> 00:11:46.840 that's the new that came out today. 112 00:11:46.900 --> 00:11:53.320 Johny Fernandez: That is interesting, because as we've been seeing the last couple of months that there's a lot of companies and businesses 113 00:11:53.560 --> 00:11:58.090 overall, that they're having a stronger focus on the cryptocurrency market. So- 114 00:11:58.120 --> 00:12:01.060 Sean Murray: It's all happening at once. It's a lot of different things are happening at once. 115 00:12:01.090 --> 00:12:08.050 Johny Fernandez: It is and it's interesting, because now, you know, we'll see where that ends up taking, you know, the cryptocurrency market 116 00:12:08.590 --> 00:12:11.290 in the future. So it'll be interesting to see what happens, 117 00:12:11.320 --> 00:12:15.820 Sean Murray: People are gonna need to change their behavior, because right now the whole, the whole thing is about holding on to your crypto 118 00:12:15.820 --> 00:12:23.980 never selling because people are under the impression that you only hold it to get rich. So the fact that you can now use it to buy stuff. It's 119 00:12:23.980 --> 00:12:31.600 gonna it's kinda like the crypto world is getting like cool, but I would never do that. I never want to sell it. I don't want to get rich by 120 00:12:31.600 --> 00:12:32.140 holding it. 121 00:12:33.520 --> 00:12:42.340 Johny Fernandez: It's now becoming a type of currency. Where it's been able to, you know, we saw it down in South Florida, where, you know, 122 00:12:42.340 --> 00:12:50.950 it's been passed to use, to pay things off to pay, uh, you know, different, being used like a currency. And so it'll be interesting to 123 00:12:50.950 --> 00:12:57.910 see how people's attitude changes and what how our world changes and adapts to the cryptocurrency market? 124 00:12:58.060 --> 00:13:03.940 Sean Murray: For sure. So people keep wondering why do we keep reporting on Bitcoin. Well, it's slowly but surely taking over everything, 125 00:13:04.830 --> 00:13:13.500 Johny Fernandez: Little by little so. And that jumps in that gives us the time to this time to jump into the whole usury conversation. You 126 00:13:13.500 --> 00:13:19.050 know, we talked about it yesterday. And Sean, let's talk a little bit more about it today. Because I know that was definitely something 127 00:13:19.050 --> 00:13:25.410 interesting that a lot of people heard and saw, especially people that are new to the business. So let's talk a little bit a little bit more 128 00:13:25.410 --> 00:13:26.190 about the usury. 129 00:13:26.400 --> 00:13:32.910 Sean Murray: Well, I got I got two questions afterwards, because I mentioned wasn't really even in passing. I said it pretty directly that 130 00:13:32.910 --> 00:13:39.510 if you charge more than 25% interest annualized interest in the state, you've committed a criminal act. That's what the New York state statute 131 00:13:39.510 --> 00:13:47.100 says, and a few people were like, Well, wait. A lot of these online lenders that we work with are clearly charging more than 25% to 132 00:13:47.100 --> 00:13:53.820 businesses in New York. Are you saying they're committing a crime? And I was like, well, well, no, I'm not. I wasn't. 133 00:13:54.380 --> 00:13:57.800 Johny Fernandez: We did emphasize we're not lawyers. This is not legal advice. 134 00:13:59.400 --> 00:14:04.620 Sean Murray: Oh, yeah. Well, yes. But I know the answer to it. So it wasn't like, Oh, well, not lawyers. Don't listen to me know what I told 135 00:14:04.620 --> 00:14:12.870 you is true. What I told you is true. And the reason there are online lenders and lots of lenders who lend to New York businesses above 25%, 136 00:14:12.900 --> 00:14:20.250 lend to consumers above 25%. How did this work? How if it's a crime in New York, how do they do it? Well, it's because if your national a state 137 00:14:20.250 --> 00:14:28.290 Chartered Bank, you are exempt from a New York State rule. So New York has this rule says you can't do it. But if you're a bank, state 138 00:14:28.290 --> 00:14:35.400 chartered like new tower, Virginia or something or nationally Chartered Bank, you don't have to abide by those rules. And some of the online 139 00:14:35.400 --> 00:14:43.290 lenders that people are familiar with, you might be thinking Wait, but they're not a bank. Well, that feeds into the whole bank partnership 140 00:14:43.530 --> 00:14:51.390 thing that we hear about and partnering with banks and you wonder why a bank is making the loan? Well, it's because banks are exempt from that 141 00:14:51.390 --> 00:14:58.410 rule. Banks can lender whatever APR they want. They don't they're not they're not they don't have to abide by New York State criminal usury 142 00:14:58.410 --> 00:15:06.270 cap. Doesn't apply to them. Now, does this make New York State very happy? I don't think so. Thanks. But it's but it's kind of been the 143 00:15:06.270 --> 00:15:13.440 standard for a long time, you can get a credit card in New York state that charges you more than 25% interest, because the bank is the one 144 00:15:13.440 --> 00:15:21.450 behind the card. And they're not. They don't have to abide by these rules. So if anyone's wondering, hey, how did this make any sense? 145 00:15:21.570 --> 00:15:29.430 online lenders or banks, online lenders who are partnered with banks, or banks are exempt from that rule. So that's, that's what that was all 146 00:15:29.430 --> 00:15:36.030 about. I hope people understand that too. Because if there's someone out there saying, they're a lender, and they're lending to businesses in New 147 00:15:36.030 --> 00:15:43.860 York, you need to start to think about how they do it. Because if they're charging a certain rate of interest, they could be they could be 148 00:15:43.860 --> 00:15:51.900 getting into dangerous territory. So always ask that question. Someone is saying we're lending, if your broker, someone's saying their lender, 149 00:15:52.620 --> 00:16:00.570 start to ask them questions about how they can legally land in states like New York. Other states have similar laws. But I think New York is a 150 00:16:00.570 --> 00:16:06.960 popular. We're here in NY , right? And a lot of brokers and lenders and punters they're based in New York, a lot of businesses there in New 151 00:16:06.960 --> 00:16:13.110 York. So these are the questions you need to ask if you're a lender in in New York, ask them how do you do it legally? 152 00:16:13.110 --> 00:16:19.960 Johny Fernandez: Yeah. And I think it's always again, to like emphasize that, definitely consult a lawyer. You know, whatever transaction you do 153 00:16:19.960 --> 00:16:27.430 whatever business you're doing, definitely, always have a good lawyer by your side to make sure they can help you navigate through dangerous 154 00:16:27.430 --> 00:16:34.060 territory, or just in general having someone that's not a friend or that's not, you know, just someone that knows someone but have an actual 155 00:16:34.060 --> 00:16:41.680 lawyer. For some reason, that's something that I've noticed that many people they'll like, kind of go based off of what their friend said, 156 00:16:42.070 --> 00:16:49.870 business partner said, or x y & z but at the end of the day, you need a lawyer, like handy to make sure you can call and have them navigate 157 00:16:49.900 --> 00:16:55.030 through all the different aspects, especially if you're new business, if you're a new business owner. So 158 00:16:55.030 --> 00:17:02.050 Sean Murray: Yeah, the whole notion of I copied and pasted my friend's contract, and I'm good. No, no, no, no, none of that. No, you can copy 159 00:17:02.050 --> 00:17:07.600 and paste your friend's contract and send it to a lawyer to review correct, that will make it easier for them to make changes, they'll keep 160 00:17:07.600 --> 00:17:14.050 your cost down. But the idea that you're just going to copy and paste someone else's contracts or paperwork or whatever terms and conditions, 161 00:17:14.050 --> 00:17:20.770 policies and just be like, Oh, I must be good, because they must be good. Yeah, it doesn't work that way. And, you know, this is financial 162 00:17:20.770 --> 00:17:28.270 services. And it's very important, whether you're the low man on the totem pole, your, you know, independent business owner working out of 163 00:17:28.270 --> 00:17:34.000 your house, and it's just you, you do need some type of legal advice at some stage in the whole thing. 164 00:17:34.030 --> 00:17:39.550 Johny Fernandez: Yeah. And I think it's also interesting, like, we learned yesterday that when it comes to like, the usury, for example, as 165 00:17:39.550 --> 00:17:45.880 a new business owner, you know, if you're new to the industry, there's things you don't know, you know, a lot of people don't know, like the 166 00:17:45.880 --> 00:17:52.300 percentages, you know, like how much, you know, legally is okay, like, and it's all these things, and things keep renewing every year. And 167 00:17:52.300 --> 00:17:58.270 there's new laws, and there's new rules, that as a new business owner, you may hear from someone that's been in the business, you know, that's 168 00:17:58.270 --> 00:18:04.780 been doing it for a while, and they may not even know. So it is important to have that legal representation on your side to make sure 169 00:18:04.780 --> 00:18:05.200 you're safe. 170 00:18:05.200 --> 00:18:13.400 Sean Murray: Yeah, there have been people that have worked in the business for a long time, who operated under a, you know, a series of 171 00:18:13.460 --> 00:18:22.460 mistaken impressions, because they were taught the wrong thing, by someone they trusted and respected. And it wasn't intentional. But they 172 00:18:22.460 --> 00:18:30.200 kind of they were just operating under the wrong assumptions, even though they meant well. And if you do that for a long time, you still 173 00:18:30.200 --> 00:18:40.490 run the risk of, you know, running afoul of the rules. So you do want someone to be double checking every step of the way. I mean, you know, 174 00:18:41.480 --> 00:18:48.470 you almost should, you really should have a lawyer, looking at every everything you do, whether it's a if the contract, if you're a broker, a 175 00:18:48.470 --> 00:18:56.540 contract with the funder, if it's, if it's a contract you're sending to the merchant, let's say some sort of fee, professional service fee, you 176 00:18:56.540 --> 00:19:03.140 need someone just double checking that everything you're doing is legitimate, because you do not want to have this life of hard earned 177 00:19:03.140 --> 00:19:12.470 success, even if it's modest, right, even if it's modest, and then find out that everything you did over the last 2, 3, 4 years was wrong. And 178 00:19:12.470 --> 00:19:20.420 now you need to make good on it. It's better to just pay out whatever it's going to cost you to do things right from the beginning. And you're 179 00:19:20.420 --> 00:19:24.500 not going to Well, you're going to reduce the risk that you're going to have some sort of problem later on. 180 00:19:24.540 --> 00:19:34.260 Johny Fernandez: Yeah. So last topic of the day. But let's jump into the last topic. So working from home. So indeed.com, they said they started 181 00:19:34.260 --> 00:19:41.310 a survey and they compared last year to this year. And they realized and obviously because of the circumstances of the world that working from 182 00:19:41.310 --> 00:19:49.230 home from home or remote working doubled from 2019 to 2020. And obviously now we're in 2021. So the big debate that people have been 183 00:19:49.230 --> 00:19:59.220 having is do you get a lot more done at home, or do you get things done back in the office? And obviously we heard earlier in the week last week 184 00:19:59.220 --> 00:20:05.610 late last week early This week that there's some companies that are going to, is here in New York, they're gonna start having their 185 00:20:05.610 --> 00:20:12.720 employees come back into the office. So Sean, as a parent, what are your views on working from home? Do you find it more successful? Do you 186 00:20:12.720 --> 00:20:16.650 actually do more work at home? Or do you do more work in the office? 187 00:20:18.370 --> 00:20:27.460 Sean Murray: If I have to work at home, I will work at home. But I get a lot more done in an office. If I can get here, I would much rather come 188 00:20:27.460 --> 00:20:35.230 here because I feel like I am a lot more productive. So I will choose working from an office or working from home all the time. And not to 189 00:20:35.230 --> 00:20:44.320 kind of diverged from what you just said. But you raise an interesting conversation, because this whole idea of remote work is the future. I 190 00:20:44.320 --> 00:20:53.050 think it's going to backfire on a lot of people, for those who work for larger companies, and are like, Well, you know, my employer should allow 191 00:20:53.050 --> 00:21:00.700 me the right to work from home, because it's worked out so far, right. And my employer has learned that I'm capable of doing it from home. 192 00:21:01.180 --> 00:21:08.080 Well, there's a problem with that. Because if your employer has learned that you do not need to work in the office, they may decide they don't 193 00:21:08.080 --> 00:21:16.990 need to pay an American to do the job. They can outsource you they know for a fact now you can be outsourced to work remotely. So they can 194 00:21:16.990 --> 00:21:25.360 actually rely if they want to on cheaper labor abroad. So the downside to your employer, finding out that you were so good at doing what you 195 00:21:25.360 --> 00:21:31.090 did from home is that they're not they may not need you anymore, because they can pay someone a third of the cost in a different country to do it. 196 00:21:31.090 --> 00:21:40.240 Johny Fernandez: Yeah. And I think it's also interesting that when you are working from home, the lines, the boundaries, they're intertwined, 197 00:21:40.660 --> 00:21:48.430 because I've met a lot of a lot of my buddies that they, you know, work in finance, they work in banking, they work, you know, in different 198 00:21:48.760 --> 00:21:57.940 organizations and companies. And they've all told me, they were ready to go back into the office, because number one, it's just hectic working 199 00:21:57.940 --> 00:22:07.270 from home. And the second thing is that the lines are just cross the boundaries. They're not like, Hey, you know, five o'clock comes around, 200 00:22:07.390 --> 00:22:16.120 I'm done. A lot of companies and from what they've told me that their bosses will call them 6, 7, 8, or like earlier at 7am, 8am, you know, 201 00:22:16.120 --> 00:22:23.320 when they start at 9, and then it's like, hey, you're at home, you can work and there's no boundary there that they can draw and say, Hey, 202 00:22:23.320 --> 00:22:29.500 like, Don't call me for this time, this time. And a lot bosses, from what I've been told, are not respecting those boundaries. And they're 203 00:22:29.500 --> 00:22:38.800 just kind of intertwining the lines of like, you know, where's home, and where's work. And I think that's a very, that's another interesting 204 00:22:38.800 --> 00:22:48.040 point, and being outsourced. And also just the simple fact that the reality is if you have, you know, kids, pets, etc. It says not the same, 205 00:22:48.070 --> 00:22:58.210 I believe, personally, that I cannot work from home because this, I work. I like that separation. You know, I have my office, I can go into 206 00:22:58.210 --> 00:23:04.600 my office, work from my office, do everything from my office, and I can go home and just not worry about things that happened at the office. 207 00:23:04.630 --> 00:23:13.480 Sean Murray: Yeah. And if you if you, if you live with with multiple people, there can be a perception that you're really free to do whatever 208 00:23:13.480 --> 00:23:21.040 it is they want you to do. Yeah, you wouldn't mean like, Hey, can you do these errands? Or can you take care of this? Or do that? And you're 209 00:23:21.040 --> 00:23:27.580 like, I'm working like, you're just sitting in a chair at your house? They're not gonna know. You know what I mean, you have a phone? You're 210 00:23:27.580 --> 00:23:35.890 not gonna know. But then the whole day turns into people not respecting. Yeah, that you have to pretend that you're in an office. And that you 211 00:23:35.890 --> 00:23:44.080 can't just go and run errands, take care of kids and, you know, go do all these things. And you know, oh, go, you know, go run and do the 212 00:23:44.080 --> 00:23:51.790 dishes or whatever. Like, like I tell people start to think, oh, they're not going to know, you know, that. And then that ruins your train of 213 00:23:51.790 --> 00:23:58.390 thought. At any moment, you can be interrupted to go run errands, because someone else you live with thinks that you know, you can get 214 00:23:58.390 --> 00:24:05.080 away with it. You're just not going to comp. It's demoralizing. Because if you're sitting there and you're, you're in the mindset of I'm 215 00:24:05.080 --> 00:24:10.450 unprofessional, and someone's saying, you know, what are you doing? And it's the person sitting in a chair in the house. Who are you? You are 216 00:24:10.450 --> 00:24:11.590 nobody. Go run some errands. 217 00:24:12.970 --> 00:24:15.220 Johny Fernandez: Go pick up the milk [cross-talk] 218 00:24:15.220 --> 00:24:20.680 Sean Murray: Go out, pick up some groceries and you're not gonna know it. Your job is not gonna care. They don't know. Right? 219 00:24:20.800 --> 00:24:28.930 Johny Fernandez: But I think I think at the end of the day, this is just my belief that there will be a hybrid because at the end of the day, you 220 00:24:29.080 --> 00:24:39.070 like there has to be a boundary line of like, this is work, this is home, that's it. That's what I think. People may disagree with me but, I 221 00:24:39.280 --> 00:24:43.720 want to hear from people see what they have to say see what they have to think of, you know, what are their thoughts on this? 222 00:24:43.720 --> 00:24:45.550 Sean Murray: Sure, send us an email. 223 00:24:45.550 --> 00:24:51.090 Johny Fernandez: Send us an email, if you have any are your thoughts regarding this topic. And if you have any other topics conversations, 224 00:24:51.240 --> 00:24:57.810 please let us know. We're always looking forward to hearing from you. You can also follow us on our social media links. And and online. 225 00:24:57.810 --> 00:25:04.500 Obviously, we have different stories and all our videos from the stories that we've done in the past they are all online so deBanked.com or you 226 00:25:04.500 --> 00:25:12.210 an check us out there you can see all the links to our social media platforms. So Sean, it's always a pleasure chatting with you talking with 227 00:25:12.210 --> 00:25:17.760 you it's always a pleasure seeing all you guys so again. I'm Johny Fernandez 228 00:25:17.760 --> 00:25:16.800 Sean Murray: and i'm Sean Murray 229 00:25:16.800 --> 00:25:17.760 Johny Fernandez: And we'll see you next time