Daf Yomi Bava Metzia Daf 65 by R’ Eli Stefansky

[Music] good [Music] morning beautiful beautiful listen so today's a very special day I traveled six hours today in a car I went to see uh one of my properties in Indianapolis I promis my sons that I'll take them so we went up there when they were younger they didn't care now thing about yusha you know it's becoming so you want to see what's going on you know before like ah yeah yeah some real estate in Indianapolis okay great now it's like so so I took them so here I am so a lot of the the learning was done in the car car it's not you know it's not it's not but um here we are there's no and I came back and I I read this email as I got back and it actually brought a tear to my eye I'm not going to say a lot of tears but it gave me made me emotional because um I used to work in a kitchen I used to be a caterer had very very long nights and uh we just came from hotel program and I know the amount of work that goes go into uh making the meals and imagine doing a Seder in the kitchen you're the chef in the kitchen during the S right so when when you get to do that it's not really there so you becomes available to you like two in the morning okay realizing this I wanted to read this email he asked me not to say his name so I'm not going to say his name usually I would ask you know y to reach out to him and say listen it's going to give you need to know your name he doesn't want I didn't have time for that but I want to read this anyway here please don't read my name out loud I work at a PES program as a chef he's a chef so he doesn't it's not like he has time to go you have to serve from A to Z including the dessert you have to be there it's a very challenging job and it's long and grueling hours every year my takes a big hit coming emotionals just thinking about what this guy's going through I usually barely dve in and can it down for pursue this this year because I'm on such a solid streak for the d i I really wanted to stay with it I'm happy to report that I'm still with the D it's hard for me to describe exactly how big of a deal it is but you'll have to imagine I I could imagine it's unbelievable I would listen to the she while I was working after the second s listen here here it is after the second s after I finished my work and got to sit down to do my own seder it doesn't say what time it is but you could imagine I went to the base Med and with my eyes closing I got through the D what an amazing email thank you for pushing the Y so much great now my lens I think I lens so much where I saw the and kept it up all the best name withheld Mark next so this is um an Israeli who writing to me that he's going to be in sh and he's going to try to get more Jews to join the da I could say that on the flight to China which is a very long flight and a very hard flight I was to learn in your three or four D with real hav and real do Greenfield unbelievable okay oh you're right Mark we both pushed it together so that's why I jump to the sponsored by Anonymous for the safe and Speedy that email no it gives me it's emotional but gives me think about it what other program I'm not aware if you know of another program of learning and there a lot of programs a lot and I'm not knocking any program but that I keep on saying it some are even more but this idea that a guy that just worked till 2:3 in the morning sits down and does a d it's unbelievable I don't know another program I'm not going to mention any names even the ones with K and and this one go and do that at 3 in the morning theous for the sa spe return for all the hostages Mark gonna start doing he's gonna start people G to start saying okay what happen when does he become Emo gring this guy okay start doing a whole the return for all the [Music] hostages and all my endeavors in the beginning I thought maybe it's like a thing h a n a HZ s a b z a d h anybody child birth his daughter healthy baby k uh y say please check out what's going on with this start of the month business thank you once again we have a d that if you just started today if you're coming back from the pce break and you just joining us face and yesterday we had ab's father who I saw he had trauma he was like easy I didn't do and then he came to me after the he said I understood everything it was his first D you don't have to really know much and it's not as complicated as they made out to be so far so good including today's d but we're going to learn a lot of different interesting one after another and we're holding uh six seven lines down yeah you got it there's a bad two bad guys they decid to take out a loan with interest which you're not allowed to Al with interest and you could purchase with one Z let's call it$ Dollar you could buy four gonna have two similar cases like this the borrower gives the lender a freebie gives him five so go something like this here we go uh put it on the screen this guy lent him let's see a dollar and this guy has a bunch of wheat four for a dollar but he gives him five instead of four he doesn't have to give him five give him four he was so happy there's like interest of the interest yeah besides getting the dollar yeah yeah this is in addition the the interest is four you gave him five so this extra interest because we already learned and we're going to see it later on that that you can go to bezin and get back the ribus the interest payments that you made since it was done illegally you get your interest back so how much you get back you get back four or did you get back five because five is really also part of the interest was a free B on top of the interest instead of paying $100 worth of Interest the borrower gave back $10 $10 the interest so now you go to court how much is the cour going to be give back you hear interesting May more the no no if a then then then it's not worth for it's worth for so says you only get back only only has to get back four not five the fifth was just he was giving a good deal and on the good deal you can't recoup that in in court in but what you could recoup is the interest [Music] payments says and that's how we passing you know because Rob why are we passing like Rob because he's one of the latest and like you could get back recoup all five because why did he give him five he gave him five because it was part of Interest payment it wasn't a freebie it wasn't that he gave him a good deal okay what about if he gave him extra cash see this case you hear he gave him wheat extra wheat instead of giving him four for the ribbers he gave him five for the ribs what if he gave him cash instead of 100 bucks he gave him $110 so this case Rob would admit that he doesn't get back the extra $10 of the extra ribus only only why because ribus is rib R means there's a certain amount made up all the way in the beginning so when it comes to cash this is the amount you made up he made up 100 not 110 so when I go to Bez I can recoup the 100 not the 110 but when it comes to fruit it wasn't made up so then that entire amount comes back when takes it away from you a guy owes his friend four Z of interest and instead of giving him four he gives him a coat so when you go retrieve the coat the guy can say I don't want to give you the coat I want to give you the cash that I got the code instead of you were supposed to pay me four and you gave me a code I'm not giving you the Cod I'm giving you four you don't take the C back says you do get the C back why because they shouldn't say that this coat that you're dressing with and you're you're keeping yourself worn with is a ribit coat in other words an object that has a unique object like a coat like a car like a horse like a whatever it is people will say oh that's a rivus coat there was a guy in who kept for for the very first time and I forgot all the details but basically because he kept shita so he had a lot of celery something about celery something gave him celery seeds because he was keeping shita he got stuck with celery which was a terrible product but it ended up being that there was a certain country that really need celery made a ton of money so he bought himself an he bought himself a Cadillac the Cadillac is very very rare so especially in those days I remember the when I learned in ROV in in high school in ROV there was the CR forever he had a Cadillac like oh it's probably from the 70s whatever but still a Cadillac so they called this guy's Cadillac shm Cadillac it's a shita c because he got made all this money off shita because he had a lot of celery so he bought himself a Cadillac over here they're going to call it the opposite a ribus Cadillac a ribus coat that's no good you don't want a bad Association and bad name associated with something you owe me 12 interest he has he says like this look the lender realizes it's going to be a while until it gets paid right what do you see up there uhuh let's see here do we have a picture of this actually for rent 10 not 10 12 so it goes like this let's say the lender he he decides to settle on he's not going to get money they tell him they told him listen the borrower you lent that guy money forget about it you know how many people he owes money to you'll never see a die and then he finds out that the lender he has a he has a rental property he needs it for for the young couple they need it for a month until they go TR she says oh you know what instead of you paying me cash give me give me your rental I'll take your rental how much so the rental goes for 10 go for $1,000 a month he says you know what you owe me $1,200 forget it just give me the rental for a month you the whole the M was being large the lender said you know what you really owe me 1,200 just give me $1,000 worth of rental and so guys this deal couple moves in they live there so now how much do the couple gain really they only gain $1,000 cuz that's how that's the market right y That's the market you can rent all day long for $1,000 the M said I'll take it upon myself as if I got $1,200 this no no this this guy is up to no good the borrower he runs to bezin bezin this guy just took a rental from me for ribus it's a he did so B calls the borer here come here you took a rental for ribus yeah pay him back how much did he pay back a th000 because that's the market or 1,200 because that's how much he greed that he's going to be M you're not going to believe the is 1,200 is right he did him a favor I'm forgiving you a whole loan for 1,200 in lie of $1,000 rental then you Russia run to bzden listen he's also Russia he took the loan both parties are are guilty for interest loan it's not just the lender it's also the borrower he's over the same way he goes to B to snitch on himself and the other guy to get his money back how much he wants a full $1,200 back different the guy said I'm going to give you this V it's really 100 you're a good friend I'll give it to you 50 and he's packing up and it breaks and the guy's like oh give me 100 charging 100 pass that which reminds me of the other story where the vase broke and the guy the guy like he felt he didn't know what to do he bought it like this expensive as a gift for somebody so he tells the store owner you know what just pack it up as is and ship it to the guy because I already paid for it and we put and in his mind he sing I'll pretend that it broke on the way so I get credit for it the guy gets a box he opens it up and he sees 100 pieces of glass wrapped in wrapping each piece was wrapped individually that's one of the jokes thee anyway oh my uh sorry so it say like this let's start from the beginning traces the guy owes him 12 so he says I have a place that's usually 10 you see here on the side it says 10 it's crossed out and it says 12 for you I'll do you a big favor I'll rent it to you for 12 thank you for the loan and I'm I'm going to charge you 12 and he usually he only gets 10 he takes 12 but when he runs to bz and snitches on him he gets back 12 the is going to get back 12 instead of 10 but he should say why got the reason why I I agreed to 12 is because I was going to make money on this I was going to get paid back finally so I said I agreed to 12 instead of 10 but now that I'm not making any profit because you took me to Bez and I'm losing all my interest so why should I pay more than the whole world there's a market for this apartment it's only a thousand why should you charge me [Music] 12200 you agreed that that was the price you thought at the time that you're going to get paid in full and you didn't care you were M you took it upon yourself that this apartment is 1,200 now you're going to have to pay back to the borrower 1,200 says the in appreciation to myself and all the MD I think that's the I have to write it down to be more exact something like that whoever you are this is what happened to me and on the way here I realized that I might have made a mistake so I got to look at I'm not going to say this straight out what it says over here is that if you delay your rental yeah I had a whole meeting there with the property manager and the the the what do you call manager what's going on on the property I'll tell you tell you what I told him it's going to shock you they said that the property is at 99% occupancy so I had be you know that guy that boss like the rent is too low the rent is too low haven't I told you a thousand times I didn't say it like that I said I said I didn't say it you know what I said I said and what does that mean what does that mean 99% you want me to clap over here so she says uh what do you mean we just we raise rents we raise R I've seen not enough how are you 99% that's a terrible thing 99% 99% on 460 Apartments 99% that's a lot that means there's nothing available it's a waiting list I bought the properties at 60% something like that 60 something per no I used to sleep I told my kids I used to drive this drive at least once a week and one time I came back just to give a shear and and went back I don't know how I did it when you're young you sugar you can do it 6 hours one day bo bo eat what do you eat chocolate and soda on the way and then bring the sandwich who thought about that so you could charge if you if if there's a delay on the rent you could charge more does that mean you're allow to charge late fees I'm not so sure maybe yes maybe not in other words if you pay me later I'm going to add money but if I delay on a sale then that doesn't work in other words there's no on rent that is on sale and the is gonna explain why what's the difference between a sale and a rental so the Miss explains he rented out his yard this there's two prices if you give me everything right now I will give you I'll give it to you for 10 10 whatever 10,000 for the year but if you're going to pay me monthly it's going to cost you 12,000 for the year if you give me everything up front it's 10,000 if you pay me at the at the end it's 12 in the beginning it's 10,000 at the end it's 12,000 in other words for me to wait with your money it's going to cost extra 2,000 for the year extra two whatever you want to call it that is M but if you sell if you pay me everything up you're gonna wait until the threshing in other words you're going to wait with it it's going to cost you another price of 12,000 awesome so you hear what's going on there if you go to the store and they say okay listen if you pay for the car up front right now today it's one price but if you want a car with credit that's another price know that's what they do today in car sales right that's rivis that's awesome one price for now a second price for delay payment that's what credit is why is that a sir because I'm giving you two prices if I only give you one price I say you want to buy this car it's 12,000 if you pay me at the end of four years that's okay we'll see but if I give you two price they say there's a a cheap price and a more expensive price boom when it comes to rental it's m so I thought oh here's the mission that says you got to take L fees for rental doesn't say that L fees might be a problem over here it says that you got to take all the rent up front or at the end two prices it doesn't say that if a guy is late on his rent for three days that's what we do in our properties we take late it's aass but it's a it's aass because they're holding on to your money you wanted their rent money they were supposed to pay you $1,000 on the first of the month and they paid it to you on the fifth of the month boom it's now $1,100 it's money on the money you're taking interest because they hold that's what does a mean you're getting paid for them to hold on to your money if they if they pay on the 20th it's still $100 no no every day is another five oh every day of course the one time fine for that here's something very interesting I I saw this this I don't think has to do so much with ribbers but I guess I gave them permission at one time or another I don't remember that doesn't mean anything I don't remember a lot of things because of the whole Amazon thing so they were overwhelmed with hundreds of packages a day truck comes and dumps of everybody's Amazon into the office people are coming in going phone calls pick up your stff so we had invest $40,000 locker system you know these locker system the guy comes puts your stuff in a locker and then you Amazon Locker and then you come you put a code cost us $40,000 for their Amazon but it save you Manpower saves crazy Manpower no there's no you can't deal with it first of all it just takes over rooms rooms of of stuff and then you're busy calling the whole day pick up your stuff and people coming in and out of the office it's outside it's outdoors boom but the thing is there was hold on a second the reason why I thought about it is because we do earn money if they don't pick up their package it charges you $15 or something to take your package out of the machine if it's there for like a day or two so I don't know what that is that's what is that that's space rent rent for the space you're not it's not a Le yeah what he saying so if could you say if you pay the rent every every month on the first of the month month of20 I hear what you saying I was thinking about that so it's not exactly that but yeah I hear what you're saying he's coming up with a solution for the late fees and he's saying that there's $1,000 if you pay it on the first my price is if you pay on the fifth it's $1,010 it's not it's not a fine but it's part of the rent that would be the problem I would say rent is ,000 a month if you pay rent ahead of time I be that wouldn't be a problem at all you say the late fees the way the M put it is $10,000 for year but if you want to pay it month by month it's gonna be a thousand a month which 12 which would be by the way by the way we have to see one thing s me before you go VOR there's one piece that we're missing why is rent different when Once thear says it you're going to start looking at everything differently rent is due at the end of the month not at the beginning of the month by us also that's how it is you live there for a month you pay on oh no that's are we paying the first foring the month that's and that makes the difference between rent and and a sale so I don't know if what you're saying are you that in there and what you're saying does it make a difference what I just said no because it's exctly every month we pay I mean I'm going to kind of borrow money from you and still awesome still awesome yeah that's still interest that's still in h rivers that that doesn't matter yeah is it anyone has any R ask so what yeah yeah but s goes both ways the the Mala the buyer the seller it doesn't matter any way you look at it it's it's still a difference money and I'm getting a discount because you're holding on to my money I whatever it's it doesn't really I don't think it makes a difference in in ribus discs okay let's go exactly that's why this opens up our eyes to a lot of different issues that we have a day-to-day thing you as a renter are also a to pay late fees if I as a as a as a landlord can take them then you can't pay them answer is yeah but you know that they're going to be Jews everywhere you go one of the residents is going to be jew anyway hopefully he pays some time says but late fees are big problems in so in rental you might have some sort of hat maybe I don't know but late fees in General on on on a library book or whatever is is is a problem of Riv okay where are we but if youell a Feld if you make two prices on a field you pay me everything up front down right I know somebody that has to pay all his rent because he has bad credit he has to pay all his rent up front so I don't think he gets this that was the only deal the way okay fine what's the difference between rent and the [Music] sale because rent fee is only do at the end so therefore I'm not waiting with your money I'm not taking your money and waiting I'm waiting now if you go maybe that's what SIM was saying maybe if I you give it all the way in the beginning you get a discount okay there are those who say I thought about it but then I I saw pretty much in theum as I was reading this think to myself oh we as we work hard in this world and we only get at the end what about so if you if you make a if you you you control your so then you get a little bit of in this world as well the I sawar says on this idea he says that when you learn a you get the you get the sort of the reward and at the end that's why I make a big you don't get it as you go but at theend that's I don't know where he got that from but that's what he says and explains since the rental is all the way at the end and the time didn't come to collect so he's not waiting for the money the money anyways wasn't going to come to him until the end of the year this is what it's worth worth so why you make a deal with him he gave him a discount I think that's what was basically saying when it comes to [Music] rental since it's a s and a s taking your money all the way in advance so this is what's ribus what's the CL of ribus Cl of ribus is you're you're getting paid for waiting so when it comes to sale you should have taken all your money all the way in advance and you are waiting that's a looked into this this this where did they get it from get it from the the P that talks about a Jew sells himself to a a guy comes he's in a really bad situation he sells himself to nonu big problem because obviously you're going to be uh influenced by the non Jew he does have AAR and everything else so it says in the treat's treated as an employee year by year so should say like an employee year what's what's the second word of from here you see a hint to this idea that you get paid in the second year for the first year when you rent something somebody or a house you pay it then okay next thing but if you do this for a field you sell a bunch of the way I take I sell on credit is M says what do I do I you know what the word Tara is t means dumb d m b dum it means that the people are dumped to the ribbers meaning I'm I'm selling you something on credit for a higher price that's explain [Music] why it says over here in our Mna they not all to take a higher price for getting paid later Mar this explains the whole thing if you give the guy two prices you say this is your price for cash up Advance this is your price you pay in a year on credit that is awesome but if you only have one price here's your price you don't have to pay me for a year that's M if the price is known everywhere so doesn't matter if you explain that there two prices One Price everybody knows that that A car costs x amount and you go into the dealership and he says one price and he means one price if you pay him after four years even though he said one price why because everybody knows that a brand new camera doesn't cost $80,000 they know it cost 40 it's costing 80 because you pay you paying it on credit same thing if it's a very high price says it's also a okay so we all know what do R Papa do for for a living no y anybody a beer Merchant are you looking in the art scroll so he used to make beer for a living out of dates he's very very wealthy you see throughout CH pop up different stories with him and his beer so he says like this my the way he sold beer in the month of Tire there's a lot of beer there's a lot of tast that's when had dat beer so was very cheap later on half a year later during PES season was very expensive she said listen I want to sell all my beer in PES I don't need you I don't need any favors I'm very wealthy I don't need your cash I have plenty of cash I hold on to my beer and sell it all out and PES you want my beer today half a year early pay me PES time pay me PES price at p it you pay me like everybody else you can take it today pick it up today pay me pay of time pay of price says that's M thear argues on him the we don't pass like him what's his what's his logic his logic is that a he doesn't want to sell it he doesn't need your money and that's it he's doing you a big favor he's selling it the problem is but what about the buyer for him it's a problem uh he saw he got up he knows this oh we have another is this I don't know where to put this exactly this one it's a nice picture of an Israeli guy in the shook selling an american guy it says in Hebrew one for 20 and special price for Americans one for 75 no sh sh I don't know go somewhere I'm sure we'll figure it out as we go on so anyways say my beer is not going to spoil which anyway reminds me of of it's a there might be some there's a show of a lot of poor people and they're like why is it that in the sh of all the wealthy guys such there's TI is out of this world they realize that because they drink a lot of V they're all Tipsy they're all you know what we also need vka but look they have a whole barrel of vka you know since we're poor we can't afford a put a barrel and every once in a while everybody comes by pours in a cup of vka you know that the story they com and they start pouring vka for everybody from their from the barel turns out it's all water what happened each guy said you know what this there's plenty of vka I'll just pour a cup of water nobody's going to know the difference but everybody thought the same thing so they just pouring water the whole year and they had a thing of water okay great my beer doesn't doesn't get ruined what's the huh only only Mas I don't the money I know I'm doing him a big favor I'm letting him purchase it now I don't want to be busy with this you know side I get all busy during P I'm doing him a favor I'm opening up the store early for him told you to go after you you're self-centered thinking about yourself what about the buyer he had the money he purchase it right now for today's price has the reason why he's willing to buy for the higher price and pay him PES he doesn't have money he needs to drink fine remember this one this my T my credit is great so what happened interesting story a guy has a bunch of merchandise he needs to get his merchandise from Chicago to China how does he get it to China as a great idea you guys are traveling to China right you do business in China you're going empty-handed you'll take all my stuff to China here's the thing you don't have any cash you guys are poor you don't have cash you going to take my stuff to China sell my stuff in China and then you'll have cash you'll use my cash I get free shipping to China cuz you're bringing it there you guys get a bunch of cash to use and buy your merchandise in China and at the end of the day when you come back to Chicago give me my money for my merchandise like smells like why is why is it rless because we're working for you and you're working for me but you get you get cash we get cash now we have to give give that cash back oh giving the cash back plus plus our work the work oh very good you hear the pr so let's say the story again I have merchandise in Chicago I need to get to to China and sell it in China I find you because you don't have money you'll take all my stuff to China sell it in China why would you do that because now you have a bunch of cash to work with you borrow my cash and you buy your merchandise and you bring it back to Chicago now you have merchandise Chicago you're doing great bought a bunch of chat ke in China I sold my stuff in China we all did great the problem is is y that it sounds like interest why because you traveling to China and sell my stuff you get money and you have to give me back the money but in addition to that you also worked for that money you had to sell and schle and everything else so you borrowed my money for a month but you had to give it back and you had to carry my stuff to China and sell it on the streets there so say that's not a problem in this particular case each case is an individual case it was exactly I just said right but there's a little trick here my oh so you know what this is called let's just see where it is oh did I not oh it is there okay it's called ribus M you hear y safe you're slepping and doing everything before you took the loan so that's early Rivers you're paying interest before it even happened also AES my because it's a win-win situation I'm going to counteract your selling of my stuff with another thing called the everybody knows it's first of all you get a discount on all the tariffs and taxes why because don't pay taxes so now you're using my name the other thing is listen to this they close down the market they say only stuff could be sold today not only that your stuff also is going to be sold in a closed Market you have a monopoly on the market because you're of K oh so you gain from me because I'm R and you're schlepping for me so that schlepping and selling and my name counter act each other and you borrow money from me and you give it back so it's not considered interest you're no you get you the seller in China gain more in the beginning you guys thought that you're borrowing money and you're selling for me the selling is free you I I should pay you for selling the answer is no I paid you because now you're using my name you're selling with my name you're also selling your stuff with my name this benefits because also you want to because you're using my name you don't have to pay taxes it's huge savings tax free on the way duty free and all the ways both ways both ways you're your stuff going there stuff I take that which is mine I'm not pay you're not paying taxes also you sell a bunch of stuff in China also on a on a your own Market the government comes shuts everything down you're sell whatever you want nobody else could sell while you're sell it's tremendous benefit consider a partner so they govern oh one minute you just reminded me something very important I just have to mention one thing ra never took any takes all responsibility on his merchandise all the way to China until it's sold so that's another reason why I would think that it's ribus they're not even Partners yeah like kind of okay what were we saying sorry real quick we were late 42 minutes you treat as let's talk later let's talk later we'll talk later so first of all this that we just said is he's good everything adds up you're using R's name he does The Bu it's a whole long story but it works out great s interest this going back couple or whatever wherever it was that and we just mentioned it today as well bezin will revoke your interest if you take interest you will pay for it you'll have to return it also not today that we said that what when you do a forward contract and fruit I give you cash today you're going to give me fruit tomorrow at an even more expensive price so let's say I give you $1,000 and you're supposed to give me $1,000 worth of fruit but the fruit price went up and now it's worth $1,500 you have to give me $1,500 worth of apples so says in L of the $1,500 worth of apples I can give you a pilum cash so what just happened I gave you $1,000 you returned to me $1,500 doesn't that look like interest if I can give you fruit I could just exchange it to cash no difference says Mna sponsored in recognition and what was the L over there of myself and all of MDES MD oh yeah thank youat in hon the for sponsoring SP for the daily learning if you're in Chicago you want to see the one only official gross come tomorrow he'll be here tomorrow B bright and early 2:00 course Brothers a guy say sells a field but he only buys it with a down payment he owes the money see the there's four things that could actually happen when I give a down payment and he says whenever you have the rest of the cash give it to me and take your field all the fruit on the field is Zer now no one can touch this fruit why this whole thing is AER because either way you get a a rivus over here why because if let's say The Bu The the seller takes the fruit over here and the buyer ends up buying it so the seller took his fruit that's that's interest yeah the seller is using the fruit he's using the field when the buyer eventually comes up with the money it's going to be his field and the seller was using his field he was using all the fruit from the field so not only did he get paid for the field he also got an extra fruit now what if the buyer takes the fruit and it turns out that there's no deal at all he never came up with the money so the deal is cancelled and the buyer used fruit took fruit it's also a problem it's also a problem with ribbers why because he gets back his money plus he gets fruit so it's as if he got paid for his money with fruit either way you look at it there's a problem of Interest also if he lent him money he says listen I have a field as collateral and I want if you don't pay me back in full I'm going to take your field as collateral even though this field is worth more than the loan it's a great trick right you lend somebody $1,000 you take something that's worth $2,000 you say listen if you don't pay me by this date this thing that's Valu this field that's Valu this piece of real estate is Valu $2 million for the million dollar loan is mine that's what banks do right they cross they cross uhal collateralize I give a millionar loan and I'll take this building it's worth $2 million you better pay me says the what could be the problem say why should it not be his ah you're familiar with this word SM means a guy sometimes people exaggerate say listen I'll give you a million dollars if that car is not a catalac million dollars and you find that it's not a Cadillac is he really going to give you a million he really meant a million he's exaggerating so a guy that's borrowing money he's borrowing a million says listen if I don't pay back I'm give you this building for $2 million you think he really wanted to give you a building for $2 million he's exaggerating it's not he didn't really intend to do it sometimes people Bluff when it's obvious even though you can say but that's why gambling is a big problem no going to lose nobody thinks they're going to lose so then by you taking his money you're stealing so but the says over works that's how it goes people lose their buildings all the time because of it I know people here in Chicago they lost a lot of their real estate because they collateralized the real estate and that's it Bank comes or people come and take your your real estate Son Of Z by the way Z he says that the father Z was the and he used to remind everybody to to destroy the before P so the son used to do this trick he used to take collat take collateral that was worth more than the loan and then he would go and collect that collateral even though was worth more than the loan when there's a down payment who gets to eat the fruit the say this is not even says no we have to put the the the fruit in that when he says when you bring the money you get you gave me down payment today in 2024 when you give me the the rest of the money in 2025 it'll become yours when in 2025 so m i the seller could eat fruit all day long until 2025 it's not a problem of interest and but the other story was when they say when you get me all the money in 2025 it will become yours retroactively from 2024 if that's the case I the seller cannot eat any fruit off the field why because it wasn't mine in 2024 it might be yours in 2024 you you'll do retroactive uh clarification in 2025 I we know who it is you know what this is RAB I'm going to tell you something let's see anybody uh what's his name is not here AB I'm watching and you guys I'll be very impressed if anybody knows this when there's a reason to believe that it's not going to be interest because the guy is going to buy it in 2025 there's a you could say it is interest you could say it's not interest there's two ways to go is that considered interest or not how do we call that in the of of ribus suff rib suff ribus exactly but it's not called that in this situation if the guy actually comes through and purchases it there's no problem with rivers the problem is that if he doesn't purchase it then it'll turn out retro it'll come out that there's ribbers here because the the he had no right the buyer had no right to eat the fruit so if he didn't purchase it then it's rivus on the buyer right if he does purchase it it's not a problem but there's a 50% chance they'll purchase it 50% he won't purchase it is that rib of the opinion remember we had means there's a 50% chance that they'll be ribus it's not a problem okay so let's go learned from we just had these are the authors of theis you see as we go through sh we become more and more familiar with this wrote the main bres and Safra read one of his bryces it's like a riddle you have to Guess the Riddle gu it for us when there's a down payment both the buyer and the seller could eat from the fruit of the field if there's a down payment on the field what's the case we'll see in a second the four cases there and sometimes there a down payment the buyer and seller cannot any food sometimes the seller could eat not the buyer sometimes the buyer could eat but not the seller what's the answer to the riddle immediately very very simple sometimes both them are allowed to eat the fruit when the buyer tells the seller what's your down payment you giving me a 20% down payment then you can eat 20% of the fruit I eat 80% you eat 20% boom so both of us are M to eat when can't either of them eat the fruit like we had before when you buy it in 2025 it will become yours today in 2024 retroactive both of us cannot eat fruit as I explained before depends if the buyer eats the fruit then it's a problem if it's sold if the celeries the fruit is a problem if it's not sold the kiter it's a problem either way sometimes the seller could and the buyer cannot when you bring me money in 2025 that'll become yours in 2025 but until 2025 I the seller could eat as much as I want it's mine 100% And finally what's the case when the seller could eat and not the buyer how many minutes we have 53 I this is an interesting case it's yours 100% and you'll owe me the million dollars pay me whenever you can pay me but today the field is yours oh if today the field is yours 100% who could eat the buyer could eat not the seller oh and this is the the the point that we brought up before who the says both of them cannot eat canot be like because what does say when there's something called that's what y called it before what do you call it before s ribus means there's only one side that there'll be ribbers but the second side says the won't be words [Music] why in this case because what if the buyer actually goes through with the sale and he buys it then there's no ribbers at all so he's allowed to eat the fruit what are you concerned maybe he won't buy it okay that's not suff it's 50% again a case where guy lends him a million dollars and he gives him a piece of real estate wor that's worth2 million the bar the the lender tells the borrower listen if you ever sell this field you have to sell to me I want to write a first refusal for how much for a million dollars but the the real estate is worth how much two what is that called ribus I'm giving you a loan for a million dollars and I have the right of first refusal on a on a on a piece of property after the price for half the price half the price 10% discount what I don't care just WR person that be okay yes that's the next line if it's the right market price the reason why it's AER is because he took a discount on the real estate why did he get a discount because he gave him a loan that's interest I'm giving you a million dollar loan and you have to give me a discount on your on your house that's straight out interest he's getting a $2 million house if it's the same amount if it's a million for a million then it's m a benefit but it's not costing the guy anything what do you mean he's getting a benefit that is the right of first refusal Now by lending him the money but it's not costing the guy anything correct he's not losing the the bar is not losing any money other gain yeah because he wants to live right over there he likes that neighbor who this that says that it'ser to to get a discount on the real estate once again this be a problem if you hold why because what if the the what if the borrower pays back the loan 100% then he won't get the discount on the piece of real estate I see you're you're having trouble there this's a deal I'm borrowing a million dollars from you if you pay me back in full great if you don't pay me back in full then I get a discount on the house instead of $2 million I'll pay you only a million but there's a great there's a 50% chance or 90% chance the guy will come up with the million dollars and pay me back so that's not interest according TOA yes you got a great deal on the house but it's only because you didn't pay the loan you had a choice to pay the loan ribus means rib no matter what I'm giving you a million dollars no matter what you're going to pay me back $11 million at the end of the year that's R but if I'm giving you a loan for million dollars at the end of the year you could pay me a million dollars and it was zero or if you don't pay me a million dollars I'm going to get your house that's worth $2 million I don't know that's a whole different story you're going down to details if you don't pay me back the full million I get your house I get to buy your house instead of $2 million market value I'm going to pay you $1 million so according to it's m why CU it's sad it's not a guarantee that I will get that discount on your house CU if you decide to pay me in full I won't get any discount so there's only a 50% chance of call whatever percent chance you want there's a good chance that this will never happen the interest payment won't happen if there's a good chance of Interest payment won't happen according to that's let's keep on going I he sold him a house and he says listen I know that you're in rough time I know that you sold me the house cuz you came you're in a rough situation right you you ever have these houses that people sell because they just don't have money okay so the guy tells him when I have money I want you to return my property a sir why is this awesome you hear what's going on here I'm going to buy your I'm going to buy your house when you have money Mr seller you'll pay me back what I paid and I'll leave your house you know why that's aome get use the house you got to use the house for a whole year for free you gave him a million dollars for the house after a year you get back a million dollars and you just had a year of rent free in the house that's cold interest I got my million dollars black plus a whole year of friend free awesome look at you you got to think about these things it's unbelievable I don't know if I would have thought about this exact case a year ago sayar or a month ago or yesterday he selling the house and tells the buyer when I have the money I'm allowed to buy it back from you yes and then but you lived there for 10 years and then guy kicks you out for the same price he bought it for went up Val okay that's something else that's real estate in America now you have a Hut that's 4x4 in middle of Iraq says over there is literally like the guy told me I understand that the value goes down every year yeah yeah of course it goes down because it's made out of mud and every year couple inches of the mud peel away what just happen when the reverse happens that's M depends the buyer or the seller so according to that since it's possible that this will never happen then it's m how come when the seller makes the the condition it's m because when the seller makes the condition he's just trying to be nice and that M tomorrow is shabas she at 2 o' you can make it great if you want to come just say hello to our famous guest all the way from Baltimore I don't know when the last time he was in Chicago oh for my son's wedding I know there for my son's wedding I don't know if it came to she over there live oh hold on oh maybe that's tomorrow's Now official official official call me I just want to show this real quickly it came for the seal he came for the seal says says ra says he just really lik these pictures of the guys came the way they came out and the buyer and the seller okay great have a wonderful day we'll see you tomorrow whoa e