In short
Earn Your Leisure Podcast Episode Summary
Episode Title
How AI & China Can Save You Thousands in Real Estate Development
Hosts
- Rashad Bilal
- Troy Millings
Guest
- MG The Mortgage Guy
Episode Overview In this episode of *Earn Your Leisure*, MG The Mortgage Guy joins hosts Rashad Bilal and Troy Millings to discuss innovative strategies for saving money in real estate development and home renovation. They explore the use of AI technology, especially ChatGPT, for negotiating with contractors and conducting market research. Rashad also shares insights on sourcing home furnishings and construction materials directly from China, emphasizing significant cost savings.
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Key Discussions
- Utilizing AI in Contractor Negotiation
- Multiple Quotes: Importance of obtaining several quotes to avoid overpricing by contractors.
- AI Tools:
- Uploading quotes to AI platforms like ChatGPT for analysis.
- AI can provide estimates and identify top-rated local contractors based on reviews.
- Informed Conversations: Using AI-generated data to prepare for contractor interviews confidently.
- The “China Play” for Cost Savings
- Sourcing Materials: How directly connecting with Chinese manufacturers can lead to significant savings (up to 30-50%).
- Personal Experience: Rashad recounts his journey to China for sourcing construction materials and the benefits of having local contacts.
- Global Sourcing Best Practices:
- Understanding supplier types (specialized vs. multi-line).
- The importance of having a trustworthy partner on the ground in China.
- Scalability of Strategies
- Residential vs. Commercial:
- Savings on materials can be multiplied across multiple units in residential developments.
- In commercial projects like hotels, bulk manufacturing leads to massive upfront savings, affecting long-term profitability.
- Impact on Property Value: Achieving cost savings without sacrificing quality can enhance property value.
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Actionable Insights
- Comparing Quotes: Always compare and negotiate to ensure you are not overpaying for contractor services.
- Leveraging International Markets: Explore international suppliers for bulk deals to maximize savings.
- Avoiding Pitfalls: Be cautious and informed when sourcing goods from overseas to prevent common issues.
- Scaling Savings: Implement these strategies not only for personal renovations but also for larger developments or commercial projects.
Conclusion The discussion emphasizes the necessity of integrating technology and global sourcing into real estate practices to enhance profitability and efficiency. Whether you're a homeowner or a developer, utilizing these strategies can yield significant financial benefits in a competitive market.
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Call to Action Listeners are encouraged to comment on their interest in a more detailed panel discussion about the "China play" at Invest Fest, as the hosts are receiving inquiries and interest on the topic.
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Relevant Hashtags
- #EYL
- #RealEstate
- #AI
- #ChinaSourcing
- #Construction
- #HomeImprovement
- #InvestFest
- #WealthBuilding
- #Innovation
- #Entrepreneurship
Listen to the full episode for more insights into maximizing your real estate investment strategies!
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:00This is an iHeart Podcast. Guaranteed human. Run a business and not thinking about podcasting? Think again. More Americans listen to podcasts, then add supported streaming music from Spotify and Pandora. And as the number one podcaster, iHeart's twice as large as the next two combined. Learn how podcasting can help your business. Call 844-844-iHeart. Hello, hello, all my people. What's up? It's Questlove. Recently, I had the opportunity to sit down with the one and only ASAP Rocky. He reflects on his journey from Harlem roots to global icon status and discovering the hip-hop origin of his name.
0:34The ledge was on the TV. Rakim had the bucket hat Kangol join on. My pops was like, that's Rakim. That's who you named after. I just was like, damn the f*** I swear. Listen to the Questlove show on the iHeartRadio app, Apple Podcasts, or wherever you get your podcast. A new year doesn't ask us to become someone new. It invites us back home to ourselves. I'm Mike DeLaRocha, host of Sacred Lessons, a space for men to pause, reflect, and heal. This year, we're talking honestly about mental health, relationships, and the patterns we're ready to release. If you're looking for clarity, connection, and healthier ways to show up in your life, Sacred Lessons is here for you.
1:18Listen to Sacred Lessons with Mike DeLaRocha on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This show contains information subject to, but not limited to personal takes, rumors, not so accurate stats, and plenty more. What's up, man? This your boy Nav Green from the Broken Play Podcast. Look, it's the end of the season. The playoffs are here. But guess what? It ain't the end of your season. You can always tune in with Broken Play Podcast with Nav Green on the Black Effect Podcast Network. Not a team who ain't going to the playoffs. They're chief. It's time to rebuild.
1:48Listen to Broken Play with Nav Green from the Black Effect Podcast Network on the iHeart Radio app, Apple Podcasts, or wherever you get your podcasts. Crook and Chase Nashville chats with the coolest cat in country music. He is edgy. He's fun. He is Chase Matthews. Keith Urban helped make him a global sensation last year, but it's his recent number one hit darling to put Chase on the map and launched a fun and difficult conversation about lovers who cheat and lie. That's why I'm scared to get married. You're giving me trust issues, brother. Crook and Chase Nashville chats with Chase Matthews. Listen and subscribe on the iHeartRadio app, Apple Podcasts, or wherever you listen to podcasts.
2:27This episode is brought to you by PNC Bank. A lot of people think podcasts about work are boring. And sure, they definitely can be. But understanding a professional's routine shows us how they achieve their success little by little, day after day. It's like banking with PNC Bank. It might seem boring to save, plan, and make calculated decisions with your bank. But keeping your money boring is what helps you live a more happily fulfilled life. PNC Bank, brilliantly boring since 1865 Brilliantly boring since 1865 is a service mark of the PNC Financial Service Group, Inc. PNC Bank, National Association Member, FDIC I don't know what the hell is going on with some of these quotes that people will give you on certain projects But you really have to shop contractors right now Because some people are just adding tax on type of tax on type of tax just because they think Trump is going to add the tax or they're adding it right now before it's even in play.
3:26So get three or four quotes and do not be afraid to negotiate. You have to negotiate everything and you have to use tools like AI. I know one thing that I do, when I get a quote now, I upload that quote into my chat, GBT. Yeah, I've done. I did that before. I did that with the water basin thing. And I detailed the whole thing and I said, I gave it the chair. I'm like, how are you feeling? It gave me an estimate of what it should be on the low end, on average, and on high. It tells you everything. And the more details you put into it, the better. Even if you put pictures, like what I've done, I'll put pictures of what I'm looking to do and really break it down.
4:14And then it will give you, like Rashard said, low, high, middle, and then also ask, okay, who are the companies in this area that I should be talking to? And they'll give you, give me the top 10 companies, right? That got the best reviews, et cetera, et cetera. And then it'll give you all these companies, right? So you have to use the AI and the technology that's out here available to help you do your due diligence, to help you research. Because let's face it, we don't know everything. I don't know everything about construction. So I got to use the tools that's in front of me to get the information.
4:48So now when I'm interviewing these contractors, I can have an intelligent conversation because I already have my questions already pre-written, so to speak, with that information. So the due diligence process, especially in 2025 going into 2026 with all this volatility in the market, you have to really dig deep. And that's why I'm really excited to hear you talk about China, because I've been speaking to the China people, Rashad, and I had a call last night, matter of fact, with Blair, and the prices are just absolutely phenomenal, some of the shit that they're telling me right now. I had to send her a deposit ASAP.
5:26Like, let's go right now, because this is incredible. So, but that's later on the show, but I had to put that in there. But you have to do your due diligence, and you might have to do what Rashad did to fly out the country to go check out things for yourself to get better pricing. Or maybe you could just watch what he's done. He done did it for you. My notifications are on. I don't know about y 'all. Community service. First of all, kudos to you, Rashad, because when you told us about this, what was this? In April, we had that call. You said, yo, I'm going to China for this, that, and third. And I was like, all right, this is going to sound...
6:06What if mind control is real? If you could control the behavior of anybody around you, what kind of life would you have? Can you hypnotically persuade someone to buy a car? When you look at your car, you're going to become overwhelmed with such good feelings. Can you hypnotize someone into sleeping with you? I gave her some suggestions to be sexually aroused. Can you get someone to join your cult? NLP was used on me to access my subconscious. NLP, aka Neuro Linguistic Programming, is a blend of hypnosis, linguistics, and psychology. Fans say it's like finally getting a user manual for your brain.
6:42It's about engineering consciousness. Mind Games is the story of NLP, its crazy cast of disciples, and the fake doctor who invented it at a New Age commune and sold it to guys in suits. He stood trial for murder and got acquitted. The biggest mind game of all? NLP might actually work. This is wild. Listen to Mind Games on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
7:33It's like, damn, that **** got swag. Rocky offers a window into not only a boundary-breaking artist, but as a man committed to fusing creative ideas, community, and remaining unapologetically himself. Have you ever gotten roasted for any of your outfits? For sure. Some people don't be getting the vision. Look, they can roast me, they can cook me, they can deep-fry me, they can saute whatever they want. There's nobody who can **** with my fashion sense and my taste is impeccable. I'm just like I impress myself a lot It's an amazing conversation One you definitely don't want to miss So listen to the Questlove show On the iHeartRadio app Apple Podcasts Or wherever you get your podcasts Run a business and not thinking about podcasting?
8:20Think again More Americans listen to podcasts Than ad-supported streaming music From Spotify and Pandora And as the number one podcaster iHeart's twice as large as the next two combined So whatever your customers listen to, they'll hear your message. Plus, only iHeart can extend your message to audiences across broadcast radio. Think podcasting can help your business? Think iHeart. Streaming, radio, and podcasting. Let us show you at iHeartAdvertising.com. That's iHeartAdvertising.com. A new year doesn't mean erasing who you were. It means honoring what you've survived and choosing how you want to grow.
8:55It means giving ourselves permission to feel what we've been holding and knowing that it's okay to ask for help. I'm Mike Dallarocha, host of Sacred Lessons. This podcast is a space for men to talk openly about mental health, grief, relationships, and the patterns we inherit, but don't have to repeat. Here, we slow down. We listen. We learn how vulnerability becomes strength and how healing happens in community, not in isolation. If you're ready to let go of what no longer serves you and step into the year with clarity, compassion, and purpose, Sacred Lessons is your companion on your healing journey.
9:37Listen to Sacred Lessons with Mike DeLaRoccia on America's number one podcast network, iHeart. Follow Sacred Lessons with Mike DeLaRoccia and start listening on the free iHeart radio app today. This show contains information subject to but not limited to personal takes, rumors, not so accurate stats, and plenty more. What's up, man? This your boy, Nav Green, from the Broken Play Podcast. Look, it's the end of the season. The playoffs are here. But guess what? It ain't the end of your season. You can always tune in with Broken Play Podcast with Nav Green on the Black Effect Podcast Network. Another team who ain't going to the playoffs.
10:13The Chiefs. Oh, it's a wrap. It's time to rebuild. Who your MVP right now then? Drake May up there. Josh Allen up there still. Oh, my boy, Matthew Stafford. Where the hell both nicks at? he ain't too far behind. He did all this talking. What Matthew Stafford is doing statistically, bro, is crazy. Bro, you know I ain't no Josh Allen fan, but Matthew Stafford got better weapons. Caleb Williams. Hey, he should be in that conversation. In what conversation? MVP. He should be in it. Listen to Broken Play with Nav Green from the Black Effect Podcast Network on the iHeart Radio app, Apple Podcasts, or whatever you get your podcast.
10:48Good. Ty going to shout out to Ty. He going to document it. Shout out to Ty. Shout out to Ty. Yo, Shout out the time. He did a great job. Well, you know the thing about it too, because as you brought it up, I think people, okay, there's two people that can benefit from this China play. People that are building a home, furnishing a home, but then also real estate developers. If you are a real estate developer, one of our friends that's actually developing real estate, he's going out there today, I think. If you're a real estate developer, I think you really need to tie in with this because depending on what type of development you're doing, you can get mass items for cheaper.
11:32And that's important because you got to figure if you're developing, let's say a subunit and you're building six homes, right? And you got to put in six kitchens into those homes. So you might want to just do the basic kitchen from Home Depot, but depending on what neighborhood you're building a home in, that might not necessarily fly or that might lower the value of the home, right? You might have to go a little bit higher in on your kitchen. But if you go, you know, like the kitchen is probably going to be one of the most expensive items in the house, kitchen, in the bathroom, right? So you've saved, let's say you saved 30, 40, 50 % times that times five, you're going to have a substantial savings.
12:17What does that do that adds more profit to you the more money you say because you can still charge the same amount of money for the house right it's like you haven't compromised the quality of the home so if you if you're like i probably saved three hundred thousand dollars right but i'm i'm a home i'm just a home owner if i'm a home developer now times that times six seven but then i'm still selling at market rate so now you just made yourself two million dollars by executing smartly right so and maybe it's something that we can talk about at InvestFest let us know in chat let us know in chat if you're interested in having a panel about the old China play in its entirety at InvestFest because I've been getting a lot of DMs and a lot of people you know been following the journey so you know maybe that's something that we can really add to the invest fest portfolio per se but um i do think that you can definitely you don't have to go out there like even you like you know i'm saying like you you're talking like that's the good thing but you got to know you got to work with somebody already there because they're not all the same that's important for people to know like you just can't show up in china and just be like i'm here you can you technically can because it's like you know the area of full strong there that's manufacturing heaven and they do everything from clothes to hair bundles press on nails anything that you think of they manufacture so you can go electronics you can go and just stumble and you can get still probably a better pricing you're paying in america but if you really really want to get like because each like for instance my kitchen in in closet i i went to a store that specializes in just kitchens and closets right and the prices were so good i asked them if they could do everything but they like we really can't because we only specialize in kitchens and closets so i went to like six different stores to put it all together but it's worth it but you got to have somebody to kind of walk you through that process right like you can't just do that on your own because you it's kind of hard logistically to go to six different places i think even from the standpoint and you kind of mentioned in the video but you start to think when you're building commercial spaces or you're building hotels like they've been doing it all the all this time and the difference is that they get to charge you every night yeah so the the long-term pay obviously if you're building a subdivision those are those are homes but the hotel play like that's a nightly income that's coming in especially if you've gotten the things manufactured in bulk whether it's the the nightstand or it's the headboard for for the beds every room pretty much is the same unless you you know get a specialized suite, these things come in bulk.
15:21And now you're looking at it like, wait, they've made savings on the actual building of the hotel or wherever the commercial space is. And now they're charging you every night. So the long-term income comes back from it as well. Ernest, what's up? You ever walk into a small business and everything just works? Like the checkout is fast, the receipts are digital, tipping is a breeze, and you're out the door before the line even builds. Odds are they're using Square. We love supporting businesses that run on Square because it just feels seamless, whether it's a local coffee shop, a vendor at a pop-up market, or even one of our merch partners.
15:56Square makes it easy for them to take payments, manage inventory, and run their business with confidence, all from one simple system. One of the things we love most is seeing neighborhood businesses level up. There's this West Indian spot right in our community that started with a small takeout counter. Now with Square, they've been able to expand into a full sit-down restaurant and even started catering events across the city. That's the kind of growth that inspires us, and it's powered by Square. Square is built for all types of businesses, from the corner bagel shop that turned into a local chain, to the specialty market with thousands of unique items, to the stylist who's been holding you down for years.
16:36If you're a business owner or even just thinking about launching something soon, Square is hands down one of the best tools out there to help you start, run, and grow. It's not just about payments. It's about giving you time back so you can focus on what matters most. Ready to see how Square can transform your business? Visit square.com backslash go backslash E-Y-L to learn more. That's square.com backslash go backslash E-Y-L. Don't wait. Don't hesitate. Let Square handle the back end so you can keep pushing your vision forward. Hello, hello, all my people. What's up? It's Questlove. Recently, I had the opportunity to sit down with the one and only A$AP Rocky.
17:18He reflects on his journey from Harlem roots to global icon status and discovering the hip-hop origin of his name. The ledge was on the TV. Rakim had the bucket hat Kangol join on. Pops like, that's Rakim. That's who you named after. I just like, damn the f***ing I swear. But listen to the Questlove show on the iHeartRadio app, Apple Podcasts, or wherever you get your podcast. A new year doesn't ask us to become someone new. It invites us back home to ourselves. I'm Mike De La Rocha, host of Sacred Lessons, a space for men to pause, reflect, and heal. This year, we're talking honestly about mental health, relationships, and the patterns we're ready to release.
18:02If you're looking for clarity, connection, and healthier ways to show up in your life, Sacred Lessons is here for you. Listen to Sacred Lessons with Mike Delaroach on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This show contains information subject to, but not limited to, personal takes, rumors, not-so-accurate stats, and plenty more. What's up, man? This your boy, Nell Green, from the Broken Play Podcast. Look, it's the end of the season. The playoffs are here. But guess what? It ain't the end of your season. You can always tune in with Broken Play Podcast with Nell Green on the Black and Fake Podcast Network.
18:35Not a team who ain't going to the playoffs. The Chief. It's time to rebuild. Listen to Broken Play with Nav Green from the Black Effect Podcast Network on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Crook and Chase Nashville chats with the coolest cat in country music. He is edgy. He's fun. He is Chase Matthews. Keith Urban helped make him a global sensation last year, but it's his recent number one hit, Darling, that put Chase on the map and launched a fun and difficult conversation about lovers who cheat and lie. That's why I'm scared to get married. You're giving me trust issues, brother.
19:08Crook and Chase Nashville Chats with Chase Matthew. Listen and subscribe on the iHeartRadio app, Apple Podcasts, or wherever you listen to podcasts. The Volkswagen Beetle started out as Hitler's dream car. It wound up as a beloved hippie icon and the best-selling car of all time. How did that happen? I'm Jacob Goldstein. And I'm Robert Smith. On Business History, we tell the surprising stories behind the inventions and entrepreneurs that shaped our economy. And the story of the beetle is truly surprising. It has so much in it. He says you should be able to mount machine guns on it. Sure. Not for the family vacation, but, you know, for other things.
19:44You never know. Other plans. Listen to Business History on America's number one podcast network, iHeart. Follow Business History and start listening on the free iHeart Radio app today. This is an iHeart Podcast. Guaranteed human.
From the publisher
In this insightful clip from EYL, MG The Mortgage Guy joins hosts Troy Millings and Rashad Bilal to illuminate creative strategies for saving big on real estate development and home renovation. Are you paying too much for contractors? Wondering if there’s a smarter way to do your due diligence before diving into your next big project? This conversation is for you! MG The Mortgage Guy shares how getting multiple quotes and leveraging technology—especially AI tools like ChatGPT—can help you understand contractor pricing, break down labor and material costs, and even identify the top-rated local companies. He details his own methods for negotiating better deals, from uploading quotes for AI analysis to conducting deep market research before making any decision. Rashad Bilal dives into the trending “China play,” spotlighting his personal journey to source home furnishings and construction materials directly from Chinese manufacturers. Whether you’re furnishing a new home or developing multiple properties, Rashad explains how connecting with reputable suppliers overseas can lead to substantial savings—sometimes cutting costs by 30-50% or more, without sacrificing quality. If you’re a developer, imagine multiplying those savings across several homes or even commercial properties, and boosting your bottom line without lowering your property value. The conversation also touches on best practices for international sourcing, including the importance of local contacts abroad and understanding specialized vs. multi-line suppliers in manufacturing hubs like Foshan. Rashad and MG emphasize that you don’t always have to travel to China; having a trustworthy partner on the ground can help navigate the process to maximize benefits. Troy Millings rounds out the discussion by highlighting the scalability of these strategies—not just in residential construction but for commercial projects like hotels, where bulk manufacturing leads to huge upfront savings and greater long-term profits through nightly rates. Whether you’re a homeowner, an aspiring investor, or a seasoned developer, this clip is packed with actionable insights on harnessing both technology and global sourcing to work smarter, save more, and achieve maximum impact in today’s volatile market. ▶️ Hit play to learn how to:
- Compare and negotiate with contractors using AI
- Tap into international markets for bulk and custom deals
- Avoid common pitfalls when sourcing goods from China
- Scale your savings for larger developments or commercial properties
Don’t forget to comment if you want to see a full panel on the “China play” at Invest Fest! *#EYL #RealEstate #AI #ChinaSourcing #Construction #HomeImprovement #InvestFest #WealthBuilding #Innovation #Entrepreneurship* Subscribe for more wealth-building game from the Earn Your Leisure crew!
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