S2 E35 | Real Estate Realities: Navigating Today's Market with Manny Manna

Cutting through the noise of real estate misinformation, Manny Manna—a successful entrepreneur with extensive experience in property development, private equity, and lending—delivers an eye-opening assessment of today's housing market that both novice buyers and seasoned investors need to hear.

The conversation dives deep into how social media "experts" are spreading dangerous misinformation about real estate for clicks and views, while lacking the credentials and continuing education that would validate their advice. Manny shares his professional insights on why macroeconomic factors beyond interest rates—including tariffs on building materials, logistical challenges, and policy decisions—are shaping housing affordability in ways many commentators miss.

Perhaps most shocking is the revelation that 68% of properties in Hillsborough County are investor-owned, pushing Tampa into the top 10 U.S. cities for homelessness and housing insecurity despite its economic growth. This stark contradiction between prosperity and social challenges raises profound questions about community development priorities.

The episode also unmasks lesser-known industry realities, such as the fact that Florida real estate agents aren't required to carry errors and omissions insurance—only brokers are—highlighting the importance of thorough vetting when selecting representation for life's largest financial transactions. Manny's advice on navigating builder contracts, understanding home inspections, and advocating for transparency provides a masterclass in protecting yourself during real estate transactions.

Whether you're considering buying your first home, investing in rental properties, or simply trying to understand how economic forces are reshaping our communities, this conversation provides essential context that goes well beyond typical market analyses. Tune in for straight talk from someone who's seen every side of the real estate equation and isn't afraid to challenge conventional wisdom.

Ready to make smarter real estate decisions? Listen now and share your thoughts in the comments!

Transcript

Meeting Manny Manna: The Ultimate Capitalist

Sean Febre & Manny Febre 0:00

Right, all right guys. Welcome to another episode of Happy Hour Holidays, your go-to podcast for business, entrepreneurship and life stories. I'm your host every single week Manny Fresh, we got the resume, sean Fabre co-host. And in studio today we got the ultimate capitalist, the man who wears many hats over here. He has Manna Homes, he has private equity. He's got everything under the umbrella to make money. The ultimate hustler, manny Manna.

Manny Manna 0:32

Thank you guys. How's it going today?

Sean Febre & Manny Febre 0:34

No, man, it's not going too bad. Man. You know, we got our new podcast studio, so we're excited to be in this bitch.

Manny Manna 0:40

I love it. I was about to bring that up. I was like, how do you?

Sean Febre & Manny Febre 0:42

get through that whole intro without you know talking about this. Well we're definitely in Febre Framework Studios. We're going to have a nice sign up there. This is going to be the new Febre Framework Studios and we'll have many podcasts here. If you do want to start your own podcast, you can reach out to us and we can do a consultation and see if you could do your own podcast and that we would help you run it through all the platforms and everything, so please reach out uh happy hour holidays and we can help you with that.

Sean Febre & Manny Febre 1:14

So many definitely would endorse that. So many uh, let's just go. You know something that's very interesting and I always hear everybody talking about what's the state of real estate currently? Right now, with the interest rates and everything, what is your take on the state of real estate currently? I mean?

Manny Manna 1:31

Oh right, I love it.

Sean Febre & Manny Febre 1:32

I mean, it's a good first question.

Manny Manna 1:35

You know, because I see, you know, every morning I watch always the morning news while I'm getting ready to go to the office, right, and there's always a segment talking about that. Yeah, you know so let's get into it right, because I always I have a much bigger diff, much bigger. How do I say, uh, opinion right of some of these so-called experts that they bring on? Yeah right, I know that you, you know you guys are part of the old guard and I respect that.

Manny Manna 2:04

I do Most of y'all I do a lot of business with and we're on the same boards and committees, but you're also the ones that have excelled in your careers and have continued to learn more, and those are the same ones who probably you've worked with my grandfather or other members of my family, but nonetheless, it's the other ones that aren't really part of the association really aren't driving anything too much, but make these huge statements and hasn't gone after any kind of CE certification designation, anything that to me would validate skill.

Sean Febre & Manny Febre 2:52

So what do you? So you're going off of information and education that you learned.

Manny Manna 2:54

20 years ago, or what they may have learned on like Instagram or TikTok and took it as fact.

Sean Febre & Manny Febre 2:56

Oh, I love that, and you see a lot of people parodying and a lot of these reels are fake. Oh yeah, they're not even real and people don't even take the time.

Manny Manna 3:03

Open up this LLC and you'll give you $10,000 or $100,000 credit line.

Sean Febre & Manny Febre 3:08

Which blows my mind that people are actually doing that. They don't actually take the time to research what was in that video and see if it was fake or not?

Manny Manna 3:14

No, you know. What's funny about that is that.

Sean Febre & Manny Febre 3:16

I'm assuming those are the people that you're talking about the ones with the biggest opinions and the least amount of knowledge.

Manny Manna 3:21

Yes, and the least amount of knowledge. Yes, yeah, and they love to portray how successful they are, right and what they're teaching, but that's not how they make their money. They make their money on what they're teaching, which is bullshit and disinformation.

Sean Febre & Manny Febre 3:35

Yeah, Well, they're making their money on views, so they'll just say whatever the hell they have to in order to get the views.

Manny Manna 3:41

What's better than clickbait? You know clickbait, yeah, clickbait. You know clickbait, yeah, yeah, click. Right then on that. You know, first little shot of that, real, you know, to promote it. You know, hundred thousand dollar credit line, right for new llc, every. You know the economy's hurting man. People are fucking doing some desperate ass shit and we can get into that later. You know I'm saying right, just for a fucking paycheck. Yeah, people that I would have never expected, breaking fucking ethics, principles, shit, even their own morals, right, just for that paycheck.

Sean Febre & Manny Febre 4:14

That's when you've lost light altogether and what you're doing so is that what you, what you meant by the state of real estate? That's where it's at right now.

Manny Manna 4:21

I think right now you're going to see a massive transition right and you're already seeing it right like a decline in prices or I mean like you're going to see it.

Sean Febre & Manny Febre 4:32

Do you see the interest rates adjusting at all? Or are we seeing like a pretty stable? You know, right now I think they're about 7.25 or 7. I mean, are you gonna, are we gonna see anything better than that rate right now?

Manny Manna 4:44

I don't think, even if we did, even if a half a point was given by the Fed, it's not going to make a difference. Our tariffs, see, and this is what everybody doesn't understand, right, I love? You know all respects. You know quite a few of y'all private equity money managers, vcs. You know that heavily are focused in more real estate. And then all you investors, they come along and, you know, come to people like me for private equity or even hard money, and blah, blah, blah, blah, blah. And now we fast forward six months to a year later, and now we're here and all of them are in foreclosure for some reason what do you think about the big, massive gains that these private equity firms have done by purchasing up houses in, let's say, tampa?

Sean Febre & Manny Febre 5:38

and now a lot of the houses aren't affordable because they jacked up their appraisal values by selling them at? A ridiculous rate during covid and now people who do want to purchase a house cannot purchase a house for the simple fact that the value in Tampa has just increased astronomically over the last four years.

Manny Manna 5:56

It has. And now, if you look, you'll see all my data right In the software that we've had commissioned, you know, to get built. You'll see three to 4% you know what I'm saying and a lot of different markets of a decline. You're, you're going to rarely see a big appreciation and I like to factor in three or 4%, you know.

Sean Febre & Manny Febre 6:17

Tampa is up or down, as a margin of error.

Manny Manna 6:19

You know what I mean With all these builders that came in, you know. You know. You know there's a couple of my really respect. You know, uh, cigar city builders. You know with danny gert, you know danny garcia, and shout out to him excellent building. You know I'm saying it's price points on point. You know, within the area that he's keeping that which is cool, tampa, I'm assuming, yeah south tampa, the bay shore area, all that you know, and which shit.

Manny Manna 6:45

If they were selling the house that was there prior for the same fucking price? Right, that he just built one that's twice the size and built better, I mean, I don't see anything wrong with that. But if we're going to talk about the bigger picture, right, and to answer that question really with a better explanation and longer, no one is factoring in macroeconomics. No one's factoring in everything that trump has put into place when he came in, for example, politics, the tariffs okay, all right. You want to talk about home prices? Okay, well, what do you get about the tariffs? Okay, and people again, don't factor this in, right. We're getting stuff in from multiple different countries. Okay, some of the ones that are our biggest ones? Right, are the ones we have the highest tariffs? Okay. Now, if you want to get down to the bare bones, of anything.

Sean Febre & Manny Febre 7:38

Are you talking about building supplies there?

Manny Manna 7:40

you go Okay, the manufacturing right of it, because now we're importing it in. And then we're talking about logistics and everything is just skyrocketed because everything's now got to sit there. All these new, all the shipping containers that have come in since these you know policies have been put into place, are now sitting there and the owners of these corporations are having to eat massive dock fees every month. And I know this, because getting in this is why I'm getting into this is because of the infrastructure. What we got to have an infrastructure right whenever we're building new construction, right, that's the biggest part. If we don't have that, then what are we building?

Sean Febre & Manny Febre 8:24

What percentage of imports are actually building homes in America?

Manny Manna 8:28

Honestly, that number I wouldn't know off the top of my head.

Sean Febre & Manny Febre 8:31

Well then, I guess you can't really make an argument that the tariffs are oh I can Are impacting house fee or house values, when you said that they were decreasing Everything everything you got to remember.

The State of Real Estate Today

Manny Manna 8:44

There's not just one variable that'll fucking influence something. Okay, right, right now we're seeing unprecedented things. For example, last year election year right, historically interest rates go down. Did that happen? No, why was that? We set a fucking precedent. It defied every political season.

Sean Febre & Manny Febre 9:12

So you're saying Biden economics didn't work?

Manny Manna 9:14

in the last year of his presidency.

Sean Febre & Manny Febre 9:17

Causing massive a 40-year high in the inflation rate.

Manny Manna 9:22

I think a lot of things that both parties have done have caused now for us to be where we are. Well, listen, if you can blame.

Sean Febre & Manny Febre 9:28

Trump for one thing you got to blame the other president for the other. Oh, I do, I do as inflation rates were at a 40-year high.

Manny Manna 9:34

I think Biden could have done a lot more when he spent a tremendous amount of US dollars right Taxpayer money, sending it overseas without any fucking oversight, or let me take that back there was without any paper trail until somebody decided to bring in right a third party, right forensic, you know, accounting and uh, everything else right for full-scale audit, everything that went over to ukraine.

Manny Manna 9:58

And again, I'm not not supporting the war and our help, but I believe that there should be limitations and that blank check while Biden was in office and giving out. I have a fucking problem with that.

Sean Febre & Manny Febre 10:11

You know what I'm saying? There's kickbacks, man. I mean, if you're going to give somebody some money, you're like hey, man, I'm going to give you this amount of support, Right. Although the real question is that 40% of of it. They don't know where it went exactly.

Manny Manna 10:26

Yeah that's a big fucking number, right yeah we know where it went we're talking about billions of dollars. We have handed over, if not hundreds of billions right hundreds of billions, and then we got 40% of the shit that we sent missing, missing. Where did it go? All right, where'd it go? Well, I'll tell you what happened. Oh, I know where.

Sean Febre & Manny Febre 10:45

Because of this kind of money printing, inflation occurred Right.

Manny Manna 10:49

You know when a lot of fortunes get made during wartime, of course During political, and we're not just at other wars, we're having a political war right, fucking here in our own home. And it has gotten so bad Right, I got people. It has gotten so bad right, I got people coming after me anonymously. What for, if you can?

Sean Febre & Manny Febre 11:09

get into that.

Manny Manna 11:10

I'll get into it. I'll get into it a little bit.

Sean Febre & Manny Febre 11:13

I love it when they do it anonymously, because you know I mean come on, man, just do it straight up, ain't nobody going to kill you. But if you got the balls to send a piece of paper, I mean. See, because here's what they forget the United Healthcare guy got it right.

Manny Manna 11:28

You're going to know who it is.

Sean Febre & Manny Febre 11:29

at the end of the day, when you see the day of Gorton, it's going to be like oh, there's the name.

Manny Manna 11:34

Well, here's even bigger right. Check this out. We've already filed litigation. Okay, right, and even though it's been sent anonymously every time I got this, it's a fucking hard word. Anonymously every time. There is no reason that I can't file a civil suit anyways, not even having 100% confirmation, because it's a civil suit. Now we have enough right to know, right, and then because of the circumstances, of who these packages were sent to, right and how they were fabricated, right.

Manny Manna 12:19

They committed numerous felonies. So you know, maybe they're watching, maybe they're not. I know they stalk my social media and I'm transparent about everything. The one thing I learned over the years and Manny number two of years known me since you know, we're in our forties now, since our early twenties.

Sean Febre & Manny Febre 12:39

Yeah, I would say you're 40, manny, number two, I'm getting close.

Manny Manna 12:43

I'm turning 38 this year. I was the. We were the OGs, I guess. Yeah, OGs you know you came in right behind everybody else that cemented it, and that was the last of that generation, bro.

Sean Febre & Manny Febre 12:58

Yeah, it was.

Manny Manna 12:59

I mean because you're only three, four years earlier than the rest of us.

Sean Febre & Manny Febre 13:02

I mean you were with us.

Manny Manna 13:05

Yeah, I know you just came in after we took it over. That would have been in 2006.

Sean Febre & Manny Febre 13:09

Yeah, I graduated in 06.

Manny Manna 13:11

Yeah, really yeah, because that's when we all, back in the day, as promoters, got big enough to buy off the companies that we were working for.

Sean Febre & Manny Febre 13:20

I was still in high school.

Manny Manna 13:21

Yeah, but you got the Mr Manny number two over here, got the high, good I like how you love calling me number two.

Sean Febre & Manny Febre 13:29

I love it, man, I mean technically you're older than he is, so that would mean you were born first.

Manny Manna 13:35

I turned 42 yesterday actually.

Sean Febre & Manny Febre 13:37

Really, I believe it Cheers to that baby. Thank you, thank you.

Manny Manna 13:42

While I was at war all day. Oh, I know right. Right. Got to love it. But you know what? It really showed me that I'm doing something right Because you're withholding right all the other documents right. That shows that everything that's been done has been to the benefit of everybody else and not ever for a financial gain.

Sean Febre & Manny Febre 14:06

Ultimately, if you don't have haters, then you're not doing anything right. You do another right.

Manny Manna 14:10

Yeah, oh they they brought up every one of my committees, right, every board I'm a part of. Right, they're, they're they're making, they were calling us big name people, right, and these are just allegations and accusations, right, that's what it always is until proven. I love it when you send it to us anonymously, but you know it's bullshit and we're not even afraid because we know who you are and if you had something, because if we were doing something, you just go to the AG's office.

Sean Febre & Manny Febre 14:43

So how do you combat that then? How do I, how would, how would you?

Manny Manna 14:48

oh, I'm coming on here just to let everybody know that I already know a little bit closer yeah coming on here. One thing I mean. I think you, you know me long enough. I play the rules, you know, politics is not the never clean.

Sean Febre & Manny Febre 15:13

It's definitely never clean.

Manny Manna 15:15

Especially when the politics coincide with oversight. You know what I'm saying. Decision makers, you know the powers that be, not just the state level, but also the federal level.

Sean Febre & Manny Febre 15:24

decision makers, the powers that be Not just the state level, but also the federal level. The most corrupt corporation in the entire world is the US government, I would say the government, of every single government out there. They're all the most corrupt corporation in the entire world, each one of them for each country. I don't give a shit what country it is.

Manny Manna 15:43

They're corrupt man.

Sean Febre & Manny Febre 15:44

Regardless of side. Also, somehow they continue to convince the citizens of their country to vote for them, right, which blows my mind, bro. It's kind of you know, and that's kind of why I like what trump's doing with the transparency, saying, hey, this is where your money went, this is where your money went, this is where your money went to fucking DEI studies in ferrets in Peru. Why are we doing that?

Manny Manna 16:07

I know.

Manny Manna 16:09

This shit is ridiculous, bro. I know I love that he did that because I love forensic accounting and going after those that I have to audit in an official standing Because we know that they're doing things wrong. Right, everything that impacts licensed professionals Okay, all these people that we hired to protect us and guide us, and all this, and that even the politicians? Right, everything's connected, but the but. The problem with the system is that the checks and balances are not always being done to where they need to be and the oversight hasn't been there. You know what I'm saying?

Sean Febre & Manny Febre 16:50

It's crazy that they can't audit any government. You know, any government buildings or anything like that. So basically, the government's been able to do whatever they fucking wanted. So the government has oversight over its citizens.

Manny Manna 17:03

Yeah, oversight. But who's got oversight over the government, right?

Sean Febre & Manny Febre 17:06

no one, well, and then who would have oversight of the oversight?

Manny Manna 17:09

over the government, I know, on the state level, right, I can tell you guys like this on a state level, because I'm on the building committee for the state right, and we had a meeting last week, okay, while at the same time I was at the fair Housing Symposium, right?

Sean Febre & Manny Febre 17:26

That was in Tampa, mm-hmm.

Manny Manna 17:27

Oh, okay, so the meeting goes over our Tallahassee buildings and Orlando buildings, okay, right, and the budget, so on and so forth. The one thing that I like on a state level and this is things that we've implemented we're going over the budget, right, we're going. We know where it's, where it's going to remember it, buildings need maintenance. Okay, you know how this stuff works, right, you put out bids, this and that, right, the budget's public painting.

Manny Manna 18:01

A 1500 square foot interior doesn't cost forty thousand dollars there you go, and that is the good thing now with this right, because when you say this, are you talking about doge?

Sean Febre & Manny Febre 18:11

no, I'm talking state level, you know, I'm saying ronda santos already says he's gonna have a doge in florida he'll probably make something up like that right, and there's a lot of committees on the state.

Manny Manna 18:24

You know I'm saying, you know what you are describing is doge, though, right basically yeah, basically exactly it is yeah, I know, why can't you say the word manny? Because it's because that's a federal, it's a federal department. You know, and I'm just, and I really I don't want to confuse, let let's say the viewers per se, right?

Sean Febre & Manny Febre 18:43

So what you're asking for is a state-level doge.

Manny Manna 18:47

This is so hard for you to say no, no, no no, we have that and that's kind of what I'm touching on, you know, of what we're seeing in the evolving of the building committee for the state per se. Okay, we went over the past years and then we went over the next projected four years. Okay, right, and we actually I raised the question during the meeting right, if we have companies and we disclose and we can undercut who's already been approved, right, is that acceptable? Is it Right? There was, no, I mean, there wasn't an issue with that because we're disclosing everything Right. Issue with that because we're disclosing everything right and that we're actually, and on on top of that, our scope of work and you know, a, a new door is not going to cost twenty thousand dollars. No, it's not. You know, I'm saying it's in a cost, whatever it needs you know I love it.

Sean Febre & Manny Febre 19:35

Uh, you ever see the movie um independence day where, uh, they get to area 51 and um, the president says how do we fund all this? And then the the guy's dad goes. Well, you don't really think we pay twenty thousand dollars for a hammer, do you?

Manny Manna 19:48

right I mean, it's true it's true, listen, but before I got right and I did this strategically before I got back into real estate full-time and started covering and I started getting into you know the, you know what you naturally progress into building, remodeling, investing and then go large lending, so on and so forth. The one thing I can tell you is this the money is being spent better. We are actually trying to make a fucking difference. The money is being spent better. Right, we are actually trying to make a fucking difference. Okay, and that is the one thing I could say, that at least Florida has going on. Is it too little, too late? Now, that is a big question, because here's the thing On that. On that same token, we just made the top 10 in homelessness, housing insecurity and food insecurity. I mean the top 10 cities. Or Tampa, tampa, tampa, right, in the entire country, I don't really see a lot of homeless people walking around, you guys don't, because it's too fucking hot, so they're on their bridges, or even better.

Sean Febre & Manny Febre 21:09

Yet Let me tell you who was the source on that, by the way, who's the source? Yeah, top 10 and food insecurity the news. The news.

Manny Manna 21:17

And the government audit.

Sean Febre & Manny Febre 21:19

You can trust them, and it would make sense, wouldn't it, because we are the third largest state in the United States of America in terms of population.

Manny Manna 21:28

And we grew up and we grew too fast and a lot of people came.

Sean Febre & Manny Febre 21:32

Too many people moved here too fast.

Manny Manna 21:34

We brought in a lot of money from other states that went further here, right, but the issue with that right. On that same token, we got a break.

Sean Febre & Manny Febre 21:44

No, no, no, we got like two minutes.

Manny Manna 21:45

Okay, the problem with that is that now those same fucking dumb assholes didn't know what they were doing and now again they're fucking. They're all in foreclosure. Foreclosure isn't the pre foreclosure right we could call it that.

Disinformation and Clickbait in Real Estate

Manny Manna 21:59

Yeah, okay, right, when you get serverless pendents, right? Basically, essentially, yeah, you're in pre foreclosure because being foreclosed on would, then, yeah, okay. But loss mitigation is a technical term. If we're gonna, you know, cover all that because you can be, you can be foreclosed on by anybody. You know what I'm saying. You know, when you see, one homestead of properties in Hillsborough County is only 32%.

Sean Febre & Manny Febre 22:31

Yeah, I saw that number and it was wonderful, bro. That number blew me away because that means 68% are investor-owned. Huh, that number blew me away because that means-.

Manny Manna 22:38

It's true 68. Right, 68% are investor-owned. That's wild to me, man.

Sean Febre & Manny Febre 22:43

So that could be anybody, any company, it could be a bank and you don't even know it, but it could be a second home for somebody right Like a second home, it could.

Manny Manna 22:52

It could be, but you would see that right in the types of mortgages. You know what I'm saying. And if it was a second home, it would be a homestead here in Florida. Yeah, technically you know what I'm saying, because if there are other houses, say up north, then different state different rules.

Sean Febre & Manny Febre 23:09

When we get back with Happy Hour Holidays, we'll continue with Manny Manna and talking real estate. We freaking love this. Make sure you like, comment and subscribe. And we freaking love this. Make sure you like, comment and subscribe and reach out to us with any questions about any of the guests that we have on. Appreciate it. We'll be right back Yo dawg. Welcome back to Happy Hour Holidays. I'll start that over. Welcome back to Happy Hour Holidays.

Manny Manna 23:32

Oh.

Sean Febre & Manny Febre 23:32

God, this guy. No, welcome back to Happy Hour Holidays. I'm your host every single week. Manny Fresh. We got Manny Manna in the house talking about real estate one of my favorite topics, Manny, so as far as we got Sean Fabre also in the studio today. The resume's here. I wrote a book. I'm an engineer. I'm a co-sponsor for White Claw. I wish because I drink so many of them per day Come on White Claw. Still waiting on that honorary sponsorship.

Manny Manna 24:04

I do want to give a shout out to Breitling Give me a call. I love your guys' products. It would go good with our branding.

Sean Febre & Manny Febre 24:13

And Louis Vuitton too.

Manny Manna 24:15

Yes, absolutely, if you want to sponsor us.

Sean Febre & Manny Febre 24:17

Let's go.

Manny Manna 24:18

We got all the stuff in the car. I use your briefcases and backpacks for my day-to-day. Thank you, louis's gooey, let's go.

Sean Febre & Manny Febre 24:25

Hey. So my biggest thing, manny, I wanted your opinion on, was do you think these interest rates are going to go up or down? Like, where do you think they're going in the next 12 to 18 months? Because that's my biggest thing with the state of the market when it comes to the affordability, I mean, one of the big issues is the interest rate I mean, you think about it is of two, you know back before it's going to dictate a lot.

Sean Febre & Manny Febre 24:49

Yeah, it is, I mean this is a buyer's market, would you agree? I, I, yes, I would actually because there's probably more price reductions than we've ever seen and you know probably before, hasn rate consistently fallen since January?

Manny Manna 25:01

no, I mean that we we made it to a six month low and then, whatever the Fed does right, all the lenders have done the opposite. They've actually raised the rates yeah the only ones that are able to offer subprime are credit unions and banks.

Sean Febre & Manny Febre 25:20

Strictly to them. So if you're a lender, you're not getting that.

Manny Manna 25:22

So are you saying get a?

Sean Febre & Manny Febre 25:23

mortgage from a bank or a credit union.

Manny Manna 25:26

I'm not saying that what I will say is this right, if you have the good enough representation and I always tell- people by representation do you mean a realtor or a lender?

Manny Manna 25:36

Yes, always tell representation. Do you write a realtor or yes? Because right as a realtor, okay, and forget every other thing that I you know every other license degree, whatever. Okay as a realtor. I am going to recommend right matching a client that's looking to buy a house with the lender or, you know, with a mortgage. You know I'm saying a loan originator right in a lender or with a mortgage. You know what I'm saying. A loan originator right and a lender is like matchmaking. You know what I'm saying. Not all of them are going to work. You know what I'm saying, how that client may need to be worked. Some need to be hands-on. I am a big advocate of, if I'm being hired, and especially when I'm referring out to, to educate the clients Now, because if I leave you ignorant in the process, what am I doing?

Sean Febre & Manny Febre 26:27

Not your job.

Manny Manna 26:28

Exactly which everybody else does, because you know when you don't, when you can't get someone else to sign a BBA to pay for your time.

Sean Febre & Manny Febre 26:37

What's a BBA?

Manny Manna 26:38

A buyer broker agreement, oh right, so, and most don't. They're still relying on a seller's getting paid. You know, from the seller, you know. But again, this is where I'm always on my social media, whenever I'm doing, you know, any kind of live or any anything formative. Ask the questions. I'm not asking people to give me your business at all. I'll never solicit that. I don't pay for these. I don't pay for nothing. I want everything organically, because if I'm not getting it, I'm not doing something right, Do you?

Sean Febre & Manny Febre 27:12

believe, manny, that people or realtors should still, if you're a buyer's agent, you should be getting paid by your buyer, or do you think that, still, the seller should be paying for the buyer? You know, because of this whole thing with NAR and everything Now, everybody's uncertain. Hey, I mean, really, you're supposed to be getting paid by your buyer.

Manny Manna 27:30

Here's what I think right. I'm not going to answer one way or the other on that, and I'm going to because I'm going to answer this way right, the other on that, and I'm gonna because I'm gonna answer this way right. When I list the property, okay, I leave an option. Okay, and it's always an option okay. Let me take that back. This is always a tricky, so I think the seller so let me.

Manny Manna 27:55

Let me go from the buyer side. Okay, I've always operated because this is how I was trained. Okay, right, from one of the biggest name brokers under Keller. Right, and big shout out to Murray Coleman Respect you, love you man, you're the best. You should always have a buyer broker's agreement in place, right For your commission, regardless of what happens. You know what I'm saying, because you should be protected. As long as along with your client.

Sean Febre & Manny Febre 28:25

So then, what is that? What's the verbiage that's in there? Does it say, hey, if I get you this house now, you have to pay me? It's basically so. Then now?

Manny Manna 28:35

It's. You know, the verbiage is basically so yes, you're paying, let's say they have fifty thousand dollars as a down payment.

Sean Febre & Manny Febre 28:44

Now their down payment and you guys agree on like twenty five hundred, it's going to be fifty two thousand five hundred from the buyer and that's going to be dispensed at closing, where the seller no longer has to pay what for agent for compensation? Yeah for compensation. Doesn't that seem a little unfair to the buyer, who's already putting down a shit ton of money, and the seller doesn't really feel it because I mean, do they?

Sean Febre & Manny Febre 29:10

some may, some net I mean, if you're, if you're selling a house, I'm seeing that that net number all the time there's a reason why closing costs on the far bar right, when they drafted that originally.

Manny Manna 29:23

We're split 50 50.

Sean Febre & Manny Febre 29:24

You know I'm saying between the title company and no, no, no, between you know the seller and the buyer.

Manny Manna 29:29

you know I'm saying now compensation totally different story. Right, let's say you got someone who's been in the house, you know, 20 years and then and they bought it for $110,000 and now it's worth $800,000. You'll see that in Tampa a million times over. Now, is it too much to ask for them to pay? I don't think it is. I don't think so, not when you're making that kind of money, but also, it is your money.

Sean Febre & Manny Febre 29:57

It is Because if you're financing $10,000, you're at, it is your money. It is so right, Because if you're financing $10,000, you're at $100 extra for financing, right.

Manny Manna 30:05

Here's the also thing too you can negotiate as a listing agent and you know the seller compensation even during the transaction If the buyer's agent isn't doing their job and. I'm doing 100% of it, right? What the fuck are you doing? There's a buyer's agent. Really have to do that. Exactly what are you doing? Opening a fucking a door and acting like vanna way? Well, not just one door, you know, I'm saying not just one door though a couple.

Sean Febre & Manny Febre 30:30

But then there's also that argument. You know you're like okay, well, you only took the buyer to my house once, right, and they decided to, so that's technically only one hour out of your time at my property, so there's no reason I should pay you, even though you showed them 15 other properties.

Manny Manna 30:45

I'll tell you this. Look, when I first started off, every once in a while I would get asked 3%. You know what am I paying? You know what am I paying for? This is what you're paying for. This is what you're paying for. Okay, you're paying for the fact that, exactly that's how I got my reputation you know, you notice he keeps doing this right and he's got like move dude and he's nice so the value of your house easy he keeps doing it for the camera too, and he's switching.

Manny Manna 31:19

Hey yo look. So compensation, and you know what? Let's even take the percentages and the numbers. Actually, let's just say compensation period. Okay, you're getting right. Essentially a shield, okay, statute. Statute of limitations on the sale is five years. Okay. Now I explained in the past too, there's exceptions. Probate, you know, extends it out to 20 years. Okay, the estate, other kinds of law has it at 10 years statute of limitations.

Manny Manna 31:51

Statute of limitations for what? Anything that could go wrong. Okay, right, let's say you bought a house and then a year later they lied about the WDO.

Manny Manna 32:01

You know what I'm saying? They're fucking responsible for that shit. You don't think you're I'd sue for that shit? What's the WDO we're destroying? We're termites, wow, which is a big issue, which is why it's even written in the far bar right For disclosure. But that's a I mean. People will lie about that shit all the time. I caught that when I was buying my house recently shouldn't the inspector catch that though?

Sean Febre & Manny Febre 32:21

huh shouldn't the inspector catch that though?

Manny Manna 32:23

absolutely, and mine does. He caught it and that's how I was able to call them out on it, because they fucking lied on the seller disclosure. And this is me buying for myself. I've been learning those seller disclosure.

Sean Febre & Manny Febre 32:34

I mean, nobody's going to be like, hey, there's a little bit of a small leak that I don't know. No, they have to.

Manny Manna 32:40

They do Anything affecting any Prove they knew about it, anything affecting the property or any known issue affecting the property of the value.

Sean Febre & Manny Febre 32:50

Now you've committed fraud, non-disclosure, you know what I'm saying, but it's not what's true. It's what you can prove.

Manny Manna 32:56

Anything leakage. It's not what's true, it's what you can prove. Anything leakage, right? Oh, it's going to be easily proven in fucking home inspection. Yeah, but I'm saying if the home inspector does not catch that ultimately it should fall, and that's where it comes down to skill.

Sean Febre & Manny Febre 33:08

From the inspector.

Manny Manna 33:09

Let's get into that. I want to get in Okay, let's talk about that. Right, I read a million home inspections all the time. Okay, right, every fucking day. Right as a listing agent, or even just as the private equity firm that owns a bunch of properties, okay, and manages them, and then whatever else, okay, I look at these and I laugh sometimes because they're fucking amateur as fuck. I've had the same person after I filed you know must've fired probably a dozen prior right. The same one for the last five years. Kyle Hart right, he's the owner of HDMK inspections.

Sean Febre & Manny Febre 33:47

He's the good one, right.

Manny Manna 33:48

Me and him set a legal president right A couple of years ago. Right when we we we challenged a big builder, we pushed back a close in a whole fucking month. We racked up 1.5% right Default every day. We delayed it. Okay, but he's that good and we trust each other that much because we've been working together. And we beat them.

Manny Manna 34:09

You know what I'm saying. We made them move a fucking toilet because it wasn't up to code on the second floor, because it was three inches closer to the wall, and the people that were buying the house, the husband's fucking six foot nine. You know what I'm saying. Are you going to take a shit when you're fucking can't even get? You know what I mean? No, that doesn't work for me. Do your fucking job right, while every other agent that same year got sued. Because if you don't know how to do your fucking job right, this is where it comes down to skill again, right, you don't know how to do your job. You don't know how to work a builder's contract. Builders dictate their own contracts and they rig them for a fucking reason. Definitely DR and Lenar are the worst because they'll fucking and the same the one I'm talking about. You know that I'm referencing and I'm not going to put their name out there. Right, dr and Lenar, this is common knowledge, right? They'll close on a fucking house if it's incomplete.

Sean Febre & Manny Febre 35:06

Oh, they always do that, they'll go oh no, we'll come back and fix it. You know, and it's just like bro, they're the biggest criminals now, these large builders I mean, they're literally being able to make your own contract.

Manny Manna 35:20

Right they should abide by some rules, they should because, because they're lawyers, they don't have to do the far bar right no, no, they can structure, yeah, which is criminal, but they still, but they still have to abide by Florida law they have a building code, exactly that's. That's why they're they have the one-year warranty and all this other bullshit, but they can do whatever they want outside of Florida law to benefit them over who's purchasing it?

Manny Manna 35:45

You can dude, even with that right, you can fuck with that all day long, and I've seen them right. That's again. This is where it comes down to skill. I don't let their contract dictate me you know what I do?

Sean Febre & Manny Febre 35:57

Yeah, because you could change that contract.

Manny Manna 35:59

I can manipulate the fuck out of it.

Sean Febre & Manny Febre 36:01

Yeah Right, it's not set in stone. You know what?

Manny Manna 36:03

Let me take that word right, not manipulate it, but use their contract against them. Okay, most agents will never fucking ask their client, their home buyer of a new construction, for a home inspection. Right, I do, yeah.

Sean Febre & Manny Febre 36:21

Because client their home buyer of a new construction for a home inspection. Right, I do yeah, cause I'm going to find everything.

Manny Manna 36:24

Because what they do is they just use their own inspectors and they go. Oh yeah, this is good Right. As long as they got the NOC. Okay, right, what's?

Sean Febre & Manny Febre 36:28

the NOC.

Manny Manna 36:28

Notice of commencement.

Sean Febre & Manny Febre 36:29

Yeah, you use a shit ton of acronyms. I'm not a realtor, bro.

Manny Manna 36:33

But this is. That's the point. I want you to ask the questions so that the audience learns.

Sean Febre & Manny Febre 36:36

There you go. You know what I'm saying.

Manny Manna 36:37

I like that Because they're getting educated Again. Another thing, too Same agent, new constructions, right? Hypothetically? Ask your fucking agent do you have E&O? Show me. You know the person that's anonymous right now.

Sean Febre & Manny Febre 36:55

They all have to have E&O under their brokerage.

Manny Manna 36:57

Nope, anonymous. Right now, they all have to have E&O under their brokerage. Nope.

Sean Febre & Manny Febre 37:02

Only the broker has to Right, not the agents. And then the agent is under the brokerage. So the broker is ultimately responsible.

Manny Manna 37:05

They're responsible, but they don't have to give them E&O. That's where all these agents just don't even understand it.

Sean Febre & Manny Febre 37:12

I thought the brokerage, if they do not provide coverage of E&O, nope, then the agent isn't covered and the broker is not doing his job. If you didn't notify the agent have to.

Manny Manna 37:22

We are not an eno state. That's why really yep, we are not by law, we are not required to carry, you know? Did you know that? Only the broker? And that's only on on, because the broker has to cover the agent, nope, the agent. The broker has to cover himself. The agents are contractors oh shit, you're right.

Sean Febre & Manny Febre 37:45

So so if? My agent fucks up they're not going after them, they're coming to me.

Manny Manna 37:50

I'm getting fucking sued. Where the fuck are they going to sue them?

Sean Febre & Manny Febre 37:53

they don't got shit so I mean, ultimately that comes down to the broker's due diligence, because they're getting sued either way they're gonna get.

Manny Manna 38:04

Yeah, that's built into the. You know with it, they don't give.

Sean Febre & Manny Febre 38:06

It also depends on the contract that's been signed between the brokerage and the realtor.

Manny Manna 38:10

No, trust me we're gonna have to look into that one look you don't, you don't need to look into it into the broker side. All you got to do is pull the statutes because it doesn't matter. Only the broker has to cover it right, and that's for liability.

Private Equity Impact on Housing Affordability

Sean Febre & Manny Febre 38:26

That seems like negligence from the broker side. In my opinion it's not, they're private contractors.

Manny Manna 38:32

Every agent is a 1099, right, so ultimately the broker's only responsible for negligence? Okay, and or breaking laws okay. E&o, all is is just insurance. Yeah, okay. Ultimately, right, when you're 1099, you're your own business. Yeah, okay, that's their choice, not the carrier or not. I carried it in every fucking capacity.

Sean Febre & Manny Febre 39:01

Who gets paid? Typically the agent or the broker. For what? Through the title company.

Manny Manna 39:06

The broker. We will Well there you go, unless you do a DA, and then you can, yeah, unless the DA, yeah my DAs, all my agents, I always get paid.

Sean Febre & Manny Febre 39:15

So if the title company always cuts the broker a check, ultimately the person responsible would be the person receiving the check from the title company and title's not. Title isn't part of real estate but they're the ones cutting the last check, and then the broker is the one cutting it to the agent. You know is for is for licensed professional.

Manny Manna 39:36

God, I can't believe the liability reasons that sounds okay, right for services representation law.

Sean Febre & Manny Febre 39:39

You know, I'm saying anything.

Manny Manna 39:40

I believe that's true For liability reasons that sounds so stupid For services representation law. You know what I'm saying. Anything and everything. There's even auto in your E&O. So if you're an agent and you're showing a house, covers that Now, would you ever have anybody in your fucking car? Absolutely not. I would never do a showing with a client in my car. You get into an accident, you're responsible. Yep.

Sean Febre & Manny Febre 40:03

You're driving your.

Manny Manna 40:04

E&O is not even going to cover it either.

Sean Febre & Manny Febre 40:07

Well, that's an auto accident.

Manny Manna 40:08

Yep, because now you're going to be civilly sued. Yeah, can't sue them professionally, because they shouldn't be in your car to begin with.

Sean Febre & Manny Febre 40:15

What if you're in their car? They get into an accident.

Manny Manna 40:25

You can, they get into an accident. You can see that I got my commission bitch, see. But that see, that's the thing, right, and nobody even knows this shit. Man, when I tell people you you're being represented, okay right, you're. You want someone to represent your, your house, that's worth fucking a million dollars, okay, right. And they don't have any insurance, I'd be scared shitless. To be honest with you, would you drive in if you owned a rose royce, lamborghini and, fucking shit any car would you be driving?

Sean Febre & Manny Febre 40:50

robin, no insurance on down i-4 I mean, we know somebody that owned a bmw, that did that after he bit it off and he told it.

Manny Manna 40:57

Hey, there's an asshole dumbass born every minute man.

Sean Febre & Manny Febre 41:01

You know what I'm saying what do you call him a dumbass?

Manny Manna 41:03

but you know I mean, you know it's, the older I've gotten, the more protective I've become over people. I do business with clients and myself. You know I'm saying because, dude, when people are hurting financially, they will absolutely disregard their own principles and morals. That happens when you're fucking hungry, recently also, and when you're Dude you. I can fully agree with that Right now people are, so the majority of everybody are non-confrontational people. Okay, that is actually a very high statistic.

Manny Manna 41:40

Okay Right, they're very confrontational on this, yeah oh yeah, yeah, because it's all anonymous, right, but let's talk about the financial side, right. When they start falling behind, right they? They won't even contact their creditors, right?

Manny Manna 41:54

nothing why because they don't want confrontation right, exactly, you're too afraid, too afraid to ask for something because, honest, really and truly, if you call them and you're having, and you tell them you have financial problems, they'll work with. They're gonna fucking work with you because you know how much more expensive because I'm a lender. I'm also registered as a creditor too. Okay, because I, because I'll issue out lines of credit. You know what I mean.

Sean Febre & Manny Febre 42:20

Damn, I got a question for you, then. Credit card must complete garbage. Absolutely, fico scores are the only thing lenders look at and FICO scores are broken up into three different categories auto, mortgage and credit cards and each one of those three have TransUnion, equifax and Experian, and those are the only FICO scores lenders lend on right. No lender looks at Credit Karma and says that's your credit score, no.

Sean Febre & Manny Febre 42:51

When they pull your hard credit, please clarify that hard to the listeners, Because apparently they think if they look at Credit Karma it can't deviate by like 50, 60, 70 points.

Manny Manna 43:00

So you could go look up um last year, right, credit karma had, I think, two class action lawsuits right for reporting much lower credit scores, right, or? Even much higher right, no, no, no, because there was a reason. Right, just like okay, way higher than when you go on credit karma right, and you, you, you know, you see the odds, you know for approval and then if they don't, if they don't win, they pay you 50 bucks. It's fucking true, right.

Sean Febre & Manny Febre 43:26

Oh, that's why. No, it really is.

Manny Manna 43:28

So that's why they're always under Mine are over. And then, of course, because they're getting kickbacks from the fucking, these shitty ass fucking bank you know credit cards that you never even heard of in a million years, interest rate with 35% they're going to charge you fucking money every month just because you got a shitty credit score.

Sean Febre & Manny Febre 43:46

Or they're trying to get you to line up with personal loans.

Manny Manna 43:49

That hey, you could get a $50,000 personal loan Because?

Sean Febre & Manny Febre 43:52

because they're low interest rates, it's 25, 99.

Manny Manna 43:54

Because they're purposely lowering your shit, and that's why they ended up getting sued. Because, look right, you could do that, but it's only so long, right, because you can't do weirdness in this day and age, okay, right, it is very hard to hide shit. That's why I preach transparency.

Manny Manna 44:11

That's why you know, like, like all these agents and everything else, why do you guys try to hide shit? Don't just be fucking transparent, you know. But this, but this, you know, this shit translates to fucking everything, man, you know what I'm saying I a thousand percent agree and that that's one thing that you know.

Sean Febre & Manny Febre 44:29

And I want to shout out this app they're not paying us. I just want to shout them out my fico. If you download the my fico, I pay. I think it's like 45 a month all, those all those fico scores, uh, between mortgage and credit card, and then there's another tab that says other. You get your true on the date FICO score where you're actually at, and I know you said lower, but like mine, is 50% higher on credit karma than it is on my FICO. That's why I don't trust Credit Karma at all.

Manny Manna 45:03

You know how you really fix everything right, like Experian, you know right. They're by themselves right. You know what I'm saying. With them, I connected all my bank accounts.

Sean Febre & Manny Febre 45:13

Yeah, you do your.

Manny Manna 45:14

Experian Boost Right. So once you start connecting your assets dude, you will see your credit score change in real time. Yeah Fast, yeah All right.

Sean Febre & Manny Febre 45:26

Well, when we get back, you know, for somebody who talks about fiscal responsibility, he lives in his car. But anyways, when we get back with Happy Hour Holidays, we'll continue with this. I actually live in Manny's car For free. Welcome back to Happy hour holidays. Uh, we were talking about real estate, but we were talking about something else, that we wanted credit scores, but we already have affordable housing.

Manny Manna 45:54

Yeah, uh, we're talking about a lot of stuff that's going on in the county right now. You know a lot of stuff that's going on in the county right now. A lot of stuff that's going on in Florida. I mean, our largest demographic is going to be closer to home, anyways, where we're at, and shit. Why not talk about all the things that are affecting us? I mean, where else have you seen some of the richest people and then some of the poorest people in one of the richest growing cities in the fucking country, right, but then still being the top 10 for homelessness and food insecurity? You know what I'm saying. That's what I'm really trying to understand.

Sean Febre & Manny Febre 46:35

But I mean, don't you feel like a lot of the big cities, since there's so much population that bound to be?

Manny Manna 46:41

you know, food insecurity, oh, of course undoubtedly fine food insecurity real quick food insecurity is means that you do not have a guaranteed meal a day one, none, none hmm, that's interesting. What do you attribute that to?

Sean Febre & Manny Febre 47:00

Because I already know what I think you want to say, but go for it.

Manny Manna 47:04

I mean, it's a combination of a lot of things Property taxes, inflation, groceries are expensive as fuck.

Sean Febre & Manny Febre 47:10

Do you think property taxes should be abolished? Property taxes abolished? How many property taxes?

Manny Manna 47:16

Huh.

Sean Febre & Manny Febre 47:16

Do you think property taxes should be abolished? No, no, put an age limit on it. What about about people that retire? There's no reason why they should continue to be or somebody who has paid off their house like let's just let's say if you, still have a mortgage on it. Fine, you pay your property taxes. Let's say you don't have a mortgage on it. I mean, should you still be paying property tax?

Manny Manna 47:36

I mean what you're paying. You're paying an HOA. Now we're catering to the 1%.

Sean Febre & Manny Febre 47:42

No, because it could be somebody who's lived in their house for 20 or 30 years and they paid it off, or 15 years, they busted their ass and paid their mortgage off.

Manny Manna 47:50

But those people right now, because they've been in there, never been sold, right yeah?

Sean Febre & Manny Febre 47:57

So they're already paying nothing.

Manny Manna 47:59

You know what I'm saying? Not really. The problem is when you come in and pay cash on it, then the house next door for example Microphone's there Been remodeled and then sold Turned into a rental. Now no homestead, no, discounted. Now they get tired, they liquidate the portfolio and sell the thing. They now no homestead, no, discounted Right now they get tired and so they liquidate the portfolio and that's the thing. So they're paying now $7,000 a fucking year in property taxes, while your neighbor who's been in the house 25 years is only paying $1,000.

Manny Manna 48:32

How about this, then? That should get fixed, I don't think that's fair.

Sean Febre & Manny Febre 48:36

What about paid off homesteaded houses then?

Manny Manna 48:40

Paid off homesteaded houses. Well, it's their primary residence.

Sean Febre & Manny Febre 48:42

so why are they still paying property taxes? And this is the way I see it, at least for the ones that retire and their house is paid off, there's no reason for them to still be paying property taxes. I understand that the property taxes cover infrastructure, public schools, things of that nature, but at the same time, why are we paying the government to? When you already have the house, you own the house. Why are we paying them? And then you're like, okay, well, if it's paid off, they're already paying nothing in income or property taxes.

Sean Febre & Manny Febre 49:13

Let's say their property taxes is $12,000 a year, now they're paying $1,000 a month for that house. That makes no sense whatsoever. Property taxes and then people say, okay, how are you going to fund all this if you eliminate property taxes? You can't. Well, actually you can, All right. And then how there is they're going to start taxing other industries. They're going to start taxing gas. They're going to start taxing cigarettes. They're going to start taxing food.

Manny Manna 49:41

Right now how much a gallon of gas and tax goes to it. It'll shock you how much Between 60-70% of what you pay for gas goes to the US government in tax.

Sean Febre & Manny Febre 49:57

And you're telling me that they got to tax our properties too.

Manny Manna 50:00

I think gasoline. That is one of the biggest crooked fucking taxes I've ever fucking seen.

Sean Febre & Manny Febre 50:07

Look it up. You don't actually see the gas tax on the itemized receipt. You're doing it because all you're paying.

Manny Manna 50:13

Everyone is only only knows about and cares about what they pay per gallon and what's on the fucking sign yeah Okay. And cares about what they pay per gallon and what's on the fucking sign yeah Okay. Nobody knows that the majority of what they pay per gallon is actually fucking tax, yeah.

Sean Febre & Manny Febre 50:29

Hmm, do you see what Amazon's doing now? They're putting the tariff amount. How much it's the tariff eBay's doing?

Manny Manna 50:34

the same thing. You know what I'm saying. So anything coming from shit. I was looking at a watch the other day you know what I'm saying Coming from fucking Canada. God damn, you know what I'm saying. I was looking at some car parts right from China.

Sean Febre & Manny Febre 50:56

Shit, it was like $1,000 and then you're charging me $350, and just the tariff. So my question is Amazon, basically, is doing that as a political motive, and my question is when it was inflationary, how come they didn't put a little sign to the top that said hey, due to inflation, you're paying this much extra on everything you buy as well.

Manny Manna 51:14

Because the US government is their obligation to disclose that information.

Sean Febre & Manny Febre 51:19

Right Now, with the tariff, thing, the tariffs are disclosed as well.

Manny Manna 51:27

I don't think a corporation should pay the tariff fees. You know what I'm saying? I was a VP of a security manufacturing company, right, and the only thing that we brought in, right, were these little chips right from Taiwan. Right, and because of the tariffs, right. Do you know how expensive it went?

Sean Febre & Manny Febre 51:43

And they're just little chips. So you missed out on the news where now uh apple decided to move their uh semiconductor chip factory here, china no to india where india? Negotiated a zero percent tariff, so the tariffs are working. I think you're looking a little bit too hard into it and mainly because of the way the stock market is performing.

Manny Manna 52:04

It's a manipulation the stock market is speculation.

Sean Febre & Manny Febre 52:07

It's all speculation. When people see tariffs, what they're doing is out of fear. They're devaluing a company, not actually looking at what the company will be earning now that it's out of China, I mean that's the thing.

Manny Manna 52:20

If the company's US, and this is wild to me.

Sean Febre & Manny Febre 52:22

You guys ever seen earning calls? The company will show that in the quarter they had a 20% increase in profit and their stock will still drop. You really can't dictate the economy based on what the stock market does. It's a good indicator.

Politics, Money, and Anonymous Accusations

Manny Manna 52:38

I don't even give a shit about the stock market anymore, just because there's so many extra variables at play, right, that I don't even think to be honest with you, a lot of the fucking stockbrokers there, unless you got a fucking warren mba, right? You know I'm saying or shit man. You know, really have an understanding of just the bigger picture macroeconomics man literally worldwide international economics get the fuck out of here. The bigger picture Macro economics man Literally Worldwide International economics Get the fuck out of here. You know what I'm saying? Everything is intertwined. Right Now let's go back to the terror thing, but from a different angle. Now, how long have we been defending Taiwan from China?

Sean Febre & Manny Febre 53:15

For a long time.

Manny Manna 53:16

Right. But all of a sudden, they just made a three-way fucking deal right With Japan. In them, Taiwan, China, Japan While we still got our fucking destroyers parked outside of Taiwan Because China was trying to fucking conquer them. You know why. What was the deal? The deal.

Sean Febre & Manny Febre 53:35

Yeah, you said a three-way deal.

Manny Manna 53:36

There was a three-way deal for them right To where they unilaterally would not, I guess, tax each other, and then would stand together.

Sean Febre & Manny Febre 53:50

Against the.

Manny Manna 53:50

United States. Correct.

Sean Febre & Manny Febre 53:52

So I mean what that's showing is not free trade. What that's showing is a conspiracy globally to go against the United States, which has already had tariffs imposed on us for the last From the Trump administration Since 1913. No, since 1913.

Manny Manna 54:06

The Trump administration started the first tariffs, right? No, they didn't. Are you out of your fucking mind, bro? He's never lifted them.

Sean Febre & Manny Febre 54:12

During the Biden administration. Okay, we were taxed, tariffed by Canada, we were taxed no a tariff we were taxed. No a tariff we were tariffed by Canada on our butter 300%. When we say hey, if you import butter from us.

Sean Febre & Manny Febre 54:26

Now we're going to tariff you 300% All of a sudden, everybody freaks the fuck out. So what you're telling me is we're willing to pay a 300% tariff, but Canada can't pay a 300% tariff. This is what you call reciprocal tariffs. Everybody that's against it now sees oh well, you know the, since we import so much, we're gonna have to start paying more. No, the whole basis of it is to start manufacturing within the united states. And if we're getting a 300 tariff on butter, you're telling me we can't produce that same butter for less. We can't than what we pay.

Sean Febre & Manny Febre 54:58

That's not the point.

Manny Manna 54:59

Well, I think that is the point that we're trying to get across in this administration. Everyone has. There's always a motive to everything Everything that you're going to see politically motivated which is you want to talk about the stock market, we'll talk about commodities, because that's the only thing that fucking matters. Okay, you know what I'm saying. If we're really going to talk about the economy, what commodity?

Sean Febre & Manny Febre 55:23

Butters are a commodity.

Manny Manna 55:24

Any commodity, all of them Butters are a commodity Food, minerals, fuel, okay, gold, silver, the shit that would stand up if the fucking world crashed. You know what I'm saying? I don't know, Things that make the world go round. I don't know if gold and silver would I. You know what I'm saying. I don't know Things that make the world go round. I don't know if gold and silver would I think more so food would.

Sean Febre & Manny Febre 55:46

Those are just set because that would be a monetary if the dollar or everything fell.

Manny Manna 55:48

You know what I'm saying. We still operate on the gold and fucking silver, fucking you know what I'm saying?

Sean Febre & Manny Febre 55:54

No, we don't.

Manny Manna 55:54

Not the standard, not anymore. No, we actually just removed ourselves from that. Actually, it was a whole fucking deal.

Sean Febre & Manny Febre 56:01

It was like 1925. It was a big UN deal because they didn't need to do it anymore. Nixon took us off 1970, yeah.

Manny Manna 56:08

No, no, no, they finalized it just recently. No, yes, absolutely. I thought Nixon took us off the gold standard yeah exactly.

Sean Febre & Manny Febre 56:16

We haven't been backed by gold in forever.

Manny Manna 56:19

Different law. That's not what I'm talking about. I'm talking about when they're.

Sean Febre & Manny Febre 56:25

You're going to have to clarify that Credit line right for your country.

Manny Manna 56:29

Credit rating okay was still dictated by gold.

Sean Febre & Manny Febre 56:34

Remember the valuation of the country.

Manny Manna 56:38

Right it would be dictating how much they actually have. Okay, all right, let's transfer it over to real estate. Okay, right. Investor level Right. If you're going to use OPM, what do you need to have Reserves Right.

Sean Febre & Manny Febre 56:52

A project manager.

Manny Manna 56:53

No.

Sean Febre & Manny Febre 56:54

Other people's money.

Manny Manna 56:55

OPM. Oh, opm, opm. You need to have reserves and capital in a certain amount. You know what I'm saying To keep getting funded. Think of it as like that. You know what I mean. But bigger picture, what I really don't is that this is all political Okay. I don't think. Why have we been defending fucking Taiwan and then we're going to allow Taiwan, taiwan right to join a unilateral right tariff? You know, uh, you know, increase on us. Make that make sense. How's that fair?

Sean Febre & Manny Febre 57:33

I thought I already made it make sense how's that fair.

Manny Manna 57:35

They moved it to india, it's not fucking no, no, no, no. Fuck the company.

Sean Febre & Manny Febre 57:40

The companies are a different issue no, they're not, because if you're talking about the economy and you're talking about the stock market, you're talking about companies on the s&p 500 that are american that are performing these kinds of trades or this kind of manufacturing and importing outside of the united states of america.

Sean Febre & Manny Febre 57:59

So taiwan, china, japan, know that they could produce it cheaper. Hey, where are you gonna go? We're gonna impose a higher tax on you. We don't give a shit that you're defending us from china, japan. We don't give a shit that you're defending us from north korea. Yeah, we don't give a shit that you're defending the, the south china sea from china. We're still gonna do that for you.

Sean Febre & Manny Febre 58:19

How does it make sense? Because of the greed of those economies and they have become accustomed there we go to their lack, or to the lack of uh pushback from the american government due to weak leadership in the executive branch. And now that you have someone strong arming them, they're like, okay, well, we're not going to do it. And then they go okay, no problem, we'll go somewhere else. And then they'll negotiate.

Sean Febre & Manny Febre 58:41

Negotiate with India. India will say hey, we'll drop our tariffs down to zero and make it reciprocal with what you guys will have on us. They make a deal, they get a manufacturing plan over there, they start creating new jobs. We get them for as cheap, if not slightly higher, and the consumer doesn't really see a big deal because it's going to be raised by a couple cents, and the consumer doesn't really see a big deal because it's going to be raised by a couple cents. And then you solve the issue, and that's what the whole tariff battle is about. It's saying okay, well, if you want to tariff us we're going to move it out of your country.

Sean Febre & Manny Febre 59:10

You're going to lose millions of jobs China, and now, all of a sudden, you're going to have these containers at your port of exit, where they're not being shipped out.

Manny Manna 59:22

Because now these companies?

Sean Febre & Manny Febre 59:22

decided to cancel those purchase orders and you're fucked. Go sell them somewhere else, to a different country. It's happening in China? Yes, they are, bro. Look at the videos.

Manny Manna 59:29

They released the financials right, a couple of whistleblowers right and then-. Financials of who the country?

Sean Febre & Manny Febre 59:40

They're not going to hurt off of us Do you know how much money If a manufacturing plant moves, For example?

Manny Manna 59:46

right. Tesla said right, and this motherfucker's in the government, right, he's got a fucking cabinet seat right that he was going to move all of his companies over to the US. Who Tesla?

Sean Febre & Manny Febre 59:58

Elon Musk, elon Musk.

Manny Manna 1:00:00

Yeah, he announced that he was going to move all his company you know all the manufacturing plants over here, you know I'm saying. But then decided not to afterwards because you know how much it was going to fucking cost even then with with the government giving him all these subsidies. You know, you know they were going to subsidize everything you know who gave him those subsidies?

Sean Febre & Manny Febre 1:00:19

right the previous, not this current one.

Manny Manna 1:00:23

He already had them in place prior, but again, he's a cabinet member.

Sean Febre & Manny Febre 1:00:29

Right. And do you know where the largest lithium mine is? Where In China? So China's got them by the balls because you can't produce or you can't mine lithium in America because we don't have those kind of deposits. That's the problem. Yeah, that's one of the minerals we lack. Why do you think trump was trying to get that raw, raw mineral? Uh, deal with ukraine saying yo, end the war, pay us back. We want the rights to the minerals. Uh, for I think it was. Look at that. I don't think so. I think I don't think that war's ever gonna end. I think it will. It's gonna be be like Iraq-Afghanistan war, bro.

Manny Manna 1:01:03

They're just there to be there. I think putting them will always be the same way, right. But Ukraine, look how much damage they've done to this massive fucking country. You know what I'm saying.

Sean Febre & Manny Febre 1:01:17

Is that why in Ukraine they're wrangling up people that are military age and dragging?

Manny Manna 1:01:22

them to dance. I heard that that's crazy.

Sean Febre & Manny Febre 1:01:23

There's no hearing about it.

Manny Manna 1:01:24

There's videos out there of them actually doing it. Oh, I've seen it too. Yeah, I don't agree with any of it.

Sean Febre & Manny Febre 1:01:29

Now let me ask you a question.

Manny Manna 1:01:35

Do you see any videos of backtracking out of Russia?

Sean Febre & Manny Febre 1:01:37

No, you don't see those videos coming out of Russia.

Manny Manna 1:01:42

Of course not because they're not going to get released. They're not going to allow them to get released. I mean, they do have the internet and, just like China, they can block it from the rest of the world. There's ways, Of course. There's always ways. There's the fucking dark net.

Sean Febre & Manny Febre 1:01:56

Yeah, of course. But, everything has a track.

Manny Manna 1:01:59

You know what I'm saying. Why do you think Russia only allows the hackers that work for them to hack? Because they're probably the best hackers. Undoubtedly. You know what I'm saying.

Sean Febre & Manny Febre 1:02:15

I don't know if this is pure coincidence, but your shirt is Ukrainian colors. Then again, so is the happy hour holidays. Logo Right. Then again, so is the happy hour holidays logo Right, I think, man we have.

Manny Manna 1:02:23

We're going to see a lot of changes, man, in the coming months, especially in the coming couple of years.

Sean Febre & Manny Febre 1:02:28

It's only been four months, I know, yeah.

Manny Manna 1:02:31

And it's crazy. I mean, look at government agencies. I mean even you know what, even still, Specifically I have? I have a lot of elderly clients, Okay, that are retirees and they're very comfortable and they want reassured that their money is safe. Let's just say yeah, From what government? I can't no, just period, Just from because this is their retirement money.

Sean Febre & Manny Febre 1:02:59

Are you talking about like 401k, social security, all of it?

Manny Manna 1:03:01

right, because they'll move it into. You know, I got a couple different investment vessels. You know I'm saying but I operate at 100. You know I'm saying coverage, but we don't need to get into that and it's not not here for that. The point is what I hear from them. Okay, right, a lot of those clients, right, huge trump supporters. You know I'm saying and and I always like to ask right, what is your opinion of trump? Now, you know, because I don't. I have no opinion one way or the other. Well, let me take that back. I, I do, but they're all educational opinions okay so we're not.

Manny Manna 1:03:38

You know, I don't know. They all said the same thing right, which is true. He has taken away every single thing that his core voter right needed. What was that? He's gutted all the fucking benefits right, like what they've been, dude, they've been getting the va okay federal government right, federal government funding right for benefits for disabled people. A lot of programs I can do. I can run off the list okay, please do but I email it to you okay, that sounds good and there was an article out recently and then they talked about this on the news the other day.

Manny Manna 1:04:27

And let me I'm not getting off subject, but it's funny that they use these words that trump is now surrounding himself with billionaire oligarchs. I found that fascinated that they use the word oligarchs.

Sean Febre & Manny Febre 1:04:42

Who's George Soros? Is he not a billionaire oligarch that has been funding the Democratic Party?

Manny Manna 1:04:48

What about Mark Cuban, also a billionaire oligarch, so let me get this straight.

Sean Febre & Manny Febre 1:04:52

Only when it's a Republican billionaire is it all of a sudden an oligarch.

Manny Manna 1:05:03

But when it's a Democratic billionaire, the Democrats seem to just playfully play along I'm not saying that, no, who cares about that?

Sean Febre & Manny Febre 1:05:06

let's not even talk about bill melinda.

Manny Manna 1:05:07

No, no, we're not take away the party's affiliation, right and all that shit. Fuck that, it's irrelevant at this point let's talk about just what is in the cabinet. Let's talk about what the words, the verbiage that was said take away, take away the republican take away the parties right. What billionaires in the cabinet?

Sean Febre & Manny Febre 1:05:28

what billionaires? There's only one donald trump musk. Musk is no longer. He was never in the cabinet, bro he was ahead of the. He only gets 190 days to work in the government and that's pretty pretty. Yeah, still a cabinet seat no, he doesn't have a cabinet seat.

Manny Manna 1:05:43

He was an advisor running the fucking uh department of government yeah yeah, that's a government employee. He's not an employee if he doesn't get paid. Dude, and he has he did get paid. He gave up his pay.

Sean Febre & Manny Febre 1:05:58

He donated it back so he's still getting paid check that out to a charity.

Manny Manna 1:06:03

That's how he got that's. He is a guy dude. Look him up. This was on the news the other day. He is 100 of government employee two minute. They brought up his salary right and how he gives it away. Did you watch that? Um, it just came out and we only got two minutes.

Sean Febre & Manny Febre 1:06:20

I think we got to go for the closing words and cover this topic up another time, right? Yeah, oh, we got. Yeah, we got two minutes, man, you know, at the end of the show we always like to give our audience some advice or education, anything that you have a little tidbit from the man brain.

Continuing the Conversation in New Studio

Manny Manna 1:06:38

Ah, yes, if you. I know things are crazy in the economy, right, and people get scared and they Google and they just start making phone calls and whichever one's first they go with a lot of the times because they're just scared. Don't be scared. Ask the questions. You know saying whoever's representing you, you should be representing you for you, not for other motives. You know what I'm saying. Whoever's representing you should be representing you for you, not for other motives. You know what I'm saying, and that's it. Ask the questions, or check out my social media, because I tell you the questions to ask, shout out your social media handles you can look me up on Facebook and I mean just run my name manualman, it'll pop up right away.

Manny Manna 1:07:23

Not too many Manual Mannas out there in the world.

Sean Febre & Manny Febre 1:07:24

No, not many.

Sean Febre & Manny Febre 1:07:26

Many many that's a very catchy name Appreciate the audience listening to Happy Hour. Holidays man. We really appreciate it. We try to bring you education, different dynamic looks and opinions, and it's awesome. This is what we want. People that are successful kind of telling us hey, this is my view of the world and it's been awesome, man, so like, comment and subscribe. If you have any interest and possibly running your own podcast, Give us a call and we can help you out, or being a guest, or being a guest. So really appreciate everybody. Peace out.