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FDIC Sues Lennar | Fraud Claims 

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FDIC Sues Lennar | Fraud Claims
Houston, San Antonio, Austin and Dallas Texas. Are the local areas I study the most.
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2 окт 2024

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Комментарии : 159   
@raytaylor3077
@raytaylor3077 Год назад
KB Homes, Lennar, DR Horton, All junk. do not ever buy any of these crap houses.
@realestatemindset
@realestatemindset Год назад
Thank you for your comments.
@Dr-dikhead
@Dr-dikhead Год назад
Oh man this could big huge if the FDIC actually follows through
@realestatemindset
@realestatemindset Год назад
Its only huge if the consumer is aware of how things can work.
@cmonz9
@cmonz9 Год назад
LMAO - THIS IS GONNA BE HUGE. Lennar will have to pay 1.5M in damages!!!!!! OH NO
@Dr-dikhead
@Dr-dikhead Год назад
​@@cmonz9 Yeah thats what I mean by not following through. Hopefully its not just a slap on the wrist, definitely wont hold my breathe though.
@1969bones69
@1969bones69 Год назад
In this case its easy. Do not ever buy a Lennar or DR Horton home. Period full stop. KB homes get 3 different inspectors minimum before buying. There are plenty of smaller builder/local builders etc that you are way better off dealing with. All imo of course. You do you.
@realestatemindset
@realestatemindset Год назад
I will not argue with you there. Consumers however see these 4,25% rates and don't see any other options to be home owners.
@dkizxpt-su3ze
@dkizxpt-su3ze Год назад
I bought a brand new home from Lennar recently and they've been fantastic
@sarahbernal8008
@sarahbernal8008 9 месяцев назад
I won't build a new home with any of the new home builders. The contracts are garbage, they don't honor their builders warranties, and the contractors cut corners that you can't see.
@kimberiysmarketstrategy
@kimberiysmarketstrategy Год назад
On NHB, I’ve had a rep call us after a visit with a client & offer them $ to leave me. I was shocked! These people are scandalous!
@ongaga9
@ongaga9 Год назад
You've been warning us about Lennar for a long time!
@SirCarlosMusicBMI
@SirCarlosMusicBMI Год назад
Lennar Home builders SCARE ME 😳. Everything will be so different a year from now and I’m hoping that I’ll be able to get some awesome deals especially in the commercial areas. Thank you Travis for sharing this. Blessings, Carlos ✝️🙏❤️😊🇺🇸
@realestatemindset
@realestatemindset Год назад
Thank you for your comments Carlos! Always nice to hear from you.
@Mr-Bogs
@Mr-Bogs Год назад
I've heard time and time again since mid 2021 that the housing market it gonna crash at any moment. How much longer do you believe it will take for home prices to at least correct to what they should be? Will it ever happen or are we screwed because so many homeowners were able to lock in to an astronomically low interest rate and have zero interest in current rates? I fear that home prices won't drop in the next 3-5 years and worst of all, even if I could afford to buy in this market, inventory/options are abysmally low
@realestatemindset
@realestatemindset Год назад
Great questions and comments Mr. Bogs. First thing first, we need to understand its about location and we need to watch our own local markets, which will act differently. The other thing that makes it difficult to "time" everything is the fed bail outs. I did not think the fed was going to bail out the banks March 2023. Regardless of the golden handcuff effects, there will always be forced selling in every market. Its normally a good idea to understand what it is your looking for. I access my local market trends daily. Its hard to time the market, but its easy to see how out of wack the prices are. Having said all of that, I think the system is designed to profit off of those who give up hope. In the meantime i am increasing my purchasing power and I stay active in my market daily.
@neiterperu3680
@neiterperu3680 Год назад
House will crash depending on the market you will see a difference on margins. From 20% to some places 45% But you don’t have to worry about your home. You are gonna have to worry about being safe and having enough food. The shortages are coming the supermarket will no have enough and ppl will have to do what it takes to survive.
@realestatemindset
@realestatemindset Год назад
Nice to see you sir!@Mr.Wilson57
@House_hacker_619
@House_hacker_619 Год назад
Every market is different and everybody has different goal or plan. My goal is ownership and cash flow. I didn’t care about WEDGE or CRASH because my plan is to keep the house forever. I bought my 2nd house in San Diego for 685k with fixed rate of 4.375 last August 2022. Best decision I’ve ever made. I was looking for a house with ADU or attached studio and I got lucky plus more😂 because my house came with 2 ADU a private studio and garage converted bedroom. Both ADU are rented and cover my mortgage. If I have to buy another property I can rent the main house for 3,500-4k and that’s my cash flow.
@House_hacker_619
@House_hacker_619 Год назад
Real estate is supply and demand. That’s my opinion I will stick to it until I’m proven wrong. I predicted San Diego will be down 5-10% and I was wrong we have 12.3% price increase. My realtor wants to buy my house for 850k cash. If I sell i just made 185k cash in one year. I told her no reason to sell because I’m not paying my mortgage. Current inventory in San Diego is 2,200 with population of 3.5M. To make matter worst 1st time home buyer apple, google and Amazon are expanding. Amazon alone is bringing 5k job. If supply doesn’t get fix prices will just keep going up.
@bernardallen55
@bernardallen55 Год назад
About the current bank situation, I'm really concerned. I am worried about a lot more if a bank the size of SVB may fail. I have a friend who manages a fast-growing startup and was severely impacted by the bank run. I have taken more than $840k out of my bank. Since the FDIC only provides coverage up to $250K, an implosion could have negative consequences. presently want to invest in the stock market. Does anyone have any ideas on how I might proceed?
@andrewlogan7737
@andrewlogan7737 Год назад
I've never felt secure keeping a large sum of money in a bank, so I invest through my financial advisor, reap the benefits, and then spend the money. We fail to realize that banks are commercial enterprises that are driven by greed as well. The over-leveraging of assets by banks starting in 2020 was one of the factors that led to SVB's collapse.
@danieljackson87
@danieljackson87 Год назад
We were traveling in the same direction, my wife and I. I withdrew my money over the past two years and invested with her wealth manager. I won't be able to match her earnings over time, but at least I make more. Haha.
@danieljackson87
@danieljackson87 Год назад
Through my wife, I got in touch with Julie Anne Hoover, and I sent her an email. She is guiding me. She has since supplied me with opportunities to buy and sell the securities in which I am interested. You can hunt her up online if you require care supervision.
@mikeharry96
@mikeharry96 Год назад
@@danieljackson87 Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
@cecarchamorro5780
@cecarchamorro5780 Год назад
Kinda click bait to target lennar to correlate current timeslol news flash every single banking intitutions back in 2007 crash had bad shady loans 🤦‍♂️
@cookingwithadamkahnandlixu2718
While it’s interesting this is from the 2008 debacle. If you were selling those loans you should have gotten in trouble. I got my license as an LO back in 2006 got in an argument with the guy running our company about how stupid the option arm was and quit. It was obvious fraud. I am now a loan officer. Much different times. Got licensed again about 10 years ago
@realestatemindset
@realestatemindset Год назад
I remember those neg aim loans. Most all the lenders who offered them are now out of business
@cookingwithadamkahnandlixu2718
@@realestatemindset As they should be. The new home builders were offering them as well. They were happy to take a down payment and let people default because they saw the writing on the wall and a deposit was better than nothing. It was criminal. Unfortunately, whatever fine they receive now will be nothing and will not go to the people they abused.
@billzeman9614
@billzeman9614 Год назад
Exactly why is this lawsuit proceeding now when it was from 2008? Isn't there a statute of limitations .
@billzeman9614
@billzeman9614 Год назад
To add everyone was doing the same thing and no one seemed to be sued.
@cookingwithadamkahnandlixu2718
@@billzeman9614 The new home builders were worse from my standpoint. They were selling what they knew were bad loans because they were jammed on a ton of standing inventory. They knew people didn’t qualify but wanted to get the properties off the lot. The lenders got blamed, but the builders had to see it coming
@WOLF-qq2cn
@WOLF-qq2cn Год назад
You look like the Unabomber only on the beach.
@Brandon01.
@Brandon01. Год назад
Lmao, decent roast.
@realestatemindset
@realestatemindset Год назад
Hurtful but well played sir lol
@quixomega
@quixomega Год назад
Do new home builders not provide warranties in the US? Here in Ontario, Canada they have a mandated 3rd-party warranty program (Tareon). As a result you have coverage of basically everything for a year, most things for 2 and 7 years for major structural issues.
@john.johnb_online1438
@john.johnb_online1438 8 месяцев назад
It’s all a clown show They’re probably having family dinners together.
@lynnlietz5878
@lynnlietz5878 9 месяцев назад
Lennar absolutely doesn't want the buyer to have representation. My buyers agent & I made an offer on a home in the Nashville area 12/10/23. They countered, I accepted- after and only after I accepted they changed the terms. They insisted I sign the contract that day , on a Sunday , without legal review and would not budge on that. I would never sign any contract before a lawyer evaluated it. I really liked the house , but back to the drawing board. I wouldn't trust Lennar after that. Earlier in the process the location realtor's boss called me directly . I can only assume they were trying to cut my buyers agent out of the contract altogether.
@michaelvo966
@michaelvo966 4 месяца назад
Take money from buyers and RUNS... OVER PRICES FOR CRAPPIE HOMES.
@christiancoronel8015
@christiancoronel8015 Год назад
In California the market is booming and your information has never been helpful
@armchaireconomist8648
@armchaireconomist8648 Год назад
Buy a new construction.
@dht084
@dht084 Год назад
Homebuilders have decided that they can make more $ by incorporating the mortgage origination into their business model. Seems like a conflict of interest, your seller is also your mortgage provider. This story seems like it has been repeated everywhere in the HB sector
@realestatemindset
@realestatemindset Год назад
I agree with you. The RESPA laws do NOT apply to new home builders like it does other professionals. In my eyes thats a huge massive problem for consumers.
@dht084
@dht084 Год назад
Yeah they should be focusing on getting their construction done properly, based on some of these complaints you have exposed
@metrocaptain
@metrocaptain Год назад
You're on fire with the content, Travis. Keep it up. People more than ever need to be extremely careful when they are buying, even new homes. We purchased from a smaller builder in SW FL and are happy with them. They were very up front about the price and the build quality was superb. Any little thing I found as a flaw was fixed during my walk through. I'm not sure what's going on now, but just be careful!
@patchesmoo
@patchesmoo Год назад
Wild stuff to hear. Me and my wife closed on a small lennar home just outside Cypress tx last December. We got a 4.25 rate and closing costs incl down payment totaled 11.7k. They got us keys in hand in 32 days from contract signing. Our loan officer was amazing. Nothing but positive thanks to say about the whole experience with lenor mortgage. Absolutely no issues or quality deficiencies with my home either so far it has been wonderful
@tomekahoward6902
@tomekahoward6902 11 месяцев назад
I'm happy to hear. I try to draw my own opinion but the way I'm feeling and going through I'm not having the greatest experience with the loan process
@TruthOpinion
@TruthOpinion Год назад
It is just 27 loans
@realestatemindset
@realestatemindset Год назад
* They were caught on 27 loans. With this particular lender. According to the article. Even then are you saying just a little bit of fraud is ok and that its isolated?
@MichaelBrown-ny3et
@MichaelBrown-ny3et Год назад
They’ll get paid off. This will go away.I’m sure Buffet wasn’t warned stock would tank.
@realestatemindset
@realestatemindset Год назад
100%. easy. However perhaps this will shed some light for those of us who are still in the dark.
@dht084
@dht084 Год назад
@@realestatemindset Or maybe Warren's MO is to be on the boards of the homebuilders during the market correction and become the lender of last resort, and a "financial partner" as things unravel for the HBs in the bust part of this cycle? I think he does stuff like this.
@oohaeroplane
@oohaeroplane Год назад
My very first bank account was wamu... it was taken over by chase which I still have today.
@madebeen
@madebeen Год назад
Love these vids against Lennar 🎉🎉🎉
@realestatemindset
@realestatemindset Год назад
Just reporting on what is happening! Thanks for commenting!
@TheNWIRealEstate
@TheNWIRealEstate 10 месяцев назад
Buying the rate down as low as they do is an inducement to buy and is illegal for an existing homeowner to do the same. They only get away with it because it's on the backend of the deal.
@1969bones69
@1969bones69 Год назад
OMG mate I just noticed you have a Nissan frontier pro 4x. How are you liking the truck. I just got one for the wife about 2 months ago. Same color everything. Loving it. It feels like driving an older El Camino to me lol. I tend to like them higher up myself but it is a nice truck. WIsh the mileage was a bit better but no real complaints. Was going to go with a toyota but the towing on the frontier was just so much better.
@realestatemindset
@realestatemindset Год назад
I'm always trying to get off-road so its fantastic for me. The 4x4 is solid as is the comfort. You lose some luxury but easy to do when you replace it with off road capability.
@kristimh
@kristimh Год назад
I visited an Austin new build this weekend for Village Builders aka Lennar's luxury line. Next door to the model they had a townhome just sell for 465k that was originally 665k. I will admit, the houses were pretty nice and I've never liked Lennar.
@realestatemindset
@realestatemindset Год назад
Great intel Thank you so much for commenting. Have a great night!
@christiancoronel8015
@christiancoronel8015 Год назад
All you do is scare buyers
@Jo-li5ht
@Jo-li5ht Год назад
great advice!
@Horseracingtip
@Horseracingtip Год назад
Fish is healthy for you and too expensive. There's no way I'm releasing it.
@realestatemindset
@realestatemindset Год назад
What do you mean?
@Horseracingtip
@Horseracingtip Год назад
@@realestatemindset we're eating it👍🏻
@txbulldogboxing1462
@txbulldogboxing1462 Год назад
Lennar homes are cheaply built,tightly packed,and they wouldnt even offer us custom options unless we agreed to pay over 400K. Looks like we made the right choice. DR Horton is slightly better but fuck a HOA😂
@RMJ-t5q
@RMJ-t5q 2 месяца назад
We currently have a lawsuit against Lennar Mortgage (Eagle Home/Universal American) for fraud in 2012.
@craig8470
@craig8470 4 месяца назад
Builders will pay down the rate at their preferred lender, that same lender gets a small kick back on the loan. The builder wins as the buyer is using a lender they trust and be accountable to get the loan done. Buyer wins as they get a lower than market mortgage rate that will save hundreds per month. If you purchase a used home, the seller could care less what rate the buyer receives. There are some lenders out there that do not close on time, nor understand new construction as yards cannot be completed during winter, and will the following spring. Lennar is all about volume, hitting projections, everyone is a number, including the sales staff.
@manuelc8379
@manuelc8379 3 месяца назад
I just went thru a process that was shown a model home from Lennar and decided to purchase. But when I went to see the house while they are finishing up, I noticed that the kitchen cabinets are smaller than what I was shown. They don’t want to do nothing because they put the small cabinets in the contract and I didn’t noticed that and sign the contract. Beware with Lennar before you sign!
@RavenStorm332
@RavenStorm332 4 месяца назад
sounds like if someone is going to buy from Lennar they shouldn't apply for a loan with them just buy outright from them with cash and get a receipt
@edmond5713
@edmond5713 Год назад
Absolutely bonkers
@realestatemindset
@realestatemindset Год назад
EDMOND! 100% BONKERS!
@bobbymackey3809
@bobbymackey3809 Год назад
It took 15 YEARS for this to come to light??
@realestatemindset
@realestatemindset Год назад
Good intel thank you zzzzz
@chrisvlad5647
@chrisvlad5647 Год назад
WHAT IS THE STATUTE OF LIMITATIONS? THE FDIC MAY BE WAY OUT OF TIME
@1969bones69
@1969bones69 Год назад
It's a branch of the gov't isn't it? Rules and laws don't apply to them. Where have you been?
@realestatemindset
@realestatemindset Год назад
When it comes to fraud I don't think it starts until the fraud is discovered?
@tomekahoward6902
@tomekahoward6902 11 месяцев назад
No wonder im going through hell with lennar mortgage. Im providing alot of documentation
@TheKissingbomb
@TheKissingbomb Год назад
I simply wish realtors cared like you...most of them these days are horrible!
@emberscott
@emberscott Год назад
Ok that's cool. Sure but... WTF is the SEC doing with The Change Company!? Oh... Slip slip slipping away.
@realestatemindset
@realestatemindset Год назад
Thank you for commenting!
@jaay_c3328
@jaay_c3328 Год назад
Travis can you do a live market analysis on a home im about to buy Cheers from San Antonio
@realestatemindset
@realestatemindset Год назад
If it was in Houston I could. San Antonio is not my area. But don't you have a realtor?
@EndCorporateWelfare
@EndCorporateWelfare Год назад
"tHiS tImE iS diFfErEnT" People really forget about how people can commit fraud so they still get paid.
@realestatemindset
@realestatemindset Год назад
I worry so much about people man and their lack of memory and due diligence.
@EndCorporateWelfare
@EndCorporateWelfare Год назад
@@realestatemindset same. I had to change up my business and go to rentals because morally, I can't sell people houses knowing what's going on.
@cookingwithadamkahnandlixu2718
@@EndCorporateWelfare it is different this time.
@andreastanislsus2091
@andreastanislsus2091 Год назад
Lennair are bullies. You go to their offices Pre Approved and their reps tell you it’s better to go with Lennair mortgage and if you don’t they will not sell the home to you. When you comply and close the loan is sold to someone else
@tomekahoward6902
@tomekahoward6902 11 месяцев назад
Oh wow really I've been hearing that
@Steverz32
@Steverz32 Год назад
It’s the UniBonker😂 Hey Travis 👍😃
@realestatemindset
@realestatemindset Год назад
NOOOOOOOOOOO! Happy Thursday brother.
@VOLVO2LUV
@VOLVO2LUV Год назад
HEY
@realestatemindset
@realestatemindset Год назад
VOLVO!!!!
@scrogg13
@scrogg13 Год назад
Late 🤘😎🤘
@realestatemindset
@realestatemindset Год назад
Scrogg!!!
@eddyeroyal6024
@eddyeroyal6024 Год назад
I. In Dallas, Tx, the only we heard about was lennor not the other names.
@realestatemindset
@realestatemindset Год назад
Consumers should always always do their due diligence.
@skiffman10
@skiffman10 Год назад
You mean because Dood Frank says they can't charge more than 3% on points and fees on QM loans? Bogus since 2010.
@nelsonosorio579
@nelsonosorio579 Год назад
Boots on the ground baby. Thanks.
@realestatemindset
@realestatemindset Год назад
Thank you Nelson!
@fl-ma4279
@fl-ma4279 7 месяцев назад
I just trapped by Leonard
@Encephalitisify
@Encephalitisify Год назад
This is just more monopoly. They all do this, but they only went after one company? That’s because someone with a personal politician in their pocket wanted that company gone, so they don’t have competition. Otherwise, they would go after them all. In addition, they would give compensation to those affected by the loans. We aren’t seeing that.
@jeffk9405
@jeffk9405 Год назад
Lennar was not the only one to be sued for bad loan practices. There were many other builders', banks and loan institutions sued for their illegal loan practices and some of those lawsuits are still pending. There were many who never got their deposits back when some of the big local regional builders went bankrupt. Many people were also mistakenly foreclosed on. National builders have an advantage over regional builders as they do not get leveraged (loans) to buy land and develop for building homes. If you are worried about quality and loans, get your own loan from the institution of your choice and get a custom home built. Custom homes are not that much more money when you compare apples to apples. The money you save buying the land yourself will close the price gap. Hire a part time consultant to help. It can be a fun experience if done right.
@linefe16
@linefe16 Год назад
Anyone have any feedback on Tri Pointe or Newmark? Looking at the, and other builders as well, but can’t find much online about them or how their homes fair after closing
@SirCarlosMusicBMI
@SirCarlosMusicBMI Год назад
Btw, I would love to see some of your SHARK 🦈 Photos and videos. And I’m sure that your other viewers would appreciate it as well. Thank you Travis 😊
@daveblackman816
@daveblackman816 Год назад
B
@realestatemindset
@realestatemindset Год назад
How are you sir?!
@daveblackman816
@daveblackman816 Год назад
@@realestatemindset good man, how’s it going?
@realestatemindset
@realestatemindset Год назад
Doing great brother! Just pushing ahead staying focused!@@daveblackman816
@daveblackman816
@daveblackman816 Год назад
@@realestatemindset nice. We close in a few weeks, hoping everything goes smoothly as it can.
@realestatemindset
@realestatemindset Год назад
You feeling good still about everything?@@daveblackman816
@keithtauber4153
@keithtauber4153 Год назад
Alligator gar can go out in Saltwater. I never knew that.
@realestatemindset
@realestatemindset Год назад
It's 💯 alligator gar. It's actually normal to catch them here in the Salt water. Still blows my mind
@jimshoe402
@jimshoe402 Год назад
AUS 200 miles Out !!!!😝😝
@clagueb3686
@clagueb3686 Год назад
@7:06 price cut from $437 to $380 is 13%. Needs to go to $350.
@FLAC2023
@FLAC2023 Год назад
Epic video
@Gabber44906
@Gabber44906 Год назад
WRren Buffet has billions invested in this company.
@sunshinefamilytravels4720
@sunshinefamilytravels4720 Год назад
Houston area, up for lease renewal, best guess how much longer would I need to renew for?
@queenp7603
@queenp7603 Год назад
They are suing pulte also
@realestatemindset
@realestatemindset Год назад
Yep! Thats what lead me down this rabbit hole to begin with.
@johnlove5079
@johnlove5079 Год назад
Thanks for the great info. I learned something new today and it's Bonkers
@fusion82
@fusion82 Год назад
1
@fusion82
@fusion82 Год назад
I'm the #1 champ today lol
@realestatemindset
@realestatemindset Год назад
Got it! Thank you Fusion!
@Wonthappen
@Wonthappen Год назад
Lennar will settle. No reason to litigate for something 15 years ago.
@heniousdelvon
@heniousdelvon Год назад
Damn i might have to walk away from my home 🥴 Thanks Travis ….
@tdhyig5045
@tdhyig5045 Год назад
Great info. Man for the public.Thank you
@IakonaWayne
@IakonaWayne Год назад
stock is up lol
@realestatemindset
@realestatemindset Год назад
By $1? LOL BUT you know that this video was not about their stock right?
@IakonaWayne
@IakonaWayne Год назад
@@realestatemindset Im just saying the market doesn't care about this lawsuit.
@realestatemindset
@realestatemindset Год назад
@IakonaWayne ahhh man I 💯 agree with that. How does that make you feel? To me it's a bit depressing.
@ak_777-d5k
@ak_777-d5k Год назад
Just bought a Lennar new build in May of 2023. Yikes
@ak_777-d5k
@ak_777-d5k Год назад
We had a 4.25% locked in rate.
@realestatemindset
@realestatemindset Год назад
How was the process overall?
@ak_777-d5k
@ak_777-d5k Год назад
@@realestatemindsetpiss poor communication. I had to request a new loan officer as our initial loan officer was jerking us around on closing cost. I was told “no money down since you are 100% disabled through the VA” we ended up paying 11k. Overall it seemed as if Lennar’s internal lending just hired a bunch of newbies that had no clue what was going on. I would not recommend buying from them. We had a similar poor experience with Impression Homes a little over a year ago. I do not recommend either builder.
@ak_777-d5k
@ak_777-d5k Год назад
@@realestatemindsetBased off comps it just seems they charged more for the house and gave us a “special 4.25% rate”. But I figured, in time, the house will appraise much higher than what we paid so its all a wash.
@House_hacker_619
@House_hacker_619 Год назад
@@ak_777-d5kcongrats. I bought mine last year August 2022 with rate of 4.375. You have a better rate than me. Is that a fix rate or ARM?
@fakeperson4069
@fakeperson4069 Год назад
Wow thank you Is travis great video😊
@tomekahoward6902
@tomekahoward6902 11 месяцев назад
I wish i had of seen this before I signed
@Gabber44906
@Gabber44906 Год назад
Why "we" consumers not us consumer.
@lokesh303101
@lokesh303101 Год назад
Law will take its own Directives.
@donfranklin6956
@donfranklin6956 Год назад
WOW. This is why you are the best.
@marthabelzie1386
@marthabelzie1386 Год назад
Thanks for everything you!
@sherrywebb3383
@sherrywebb3383 Год назад
Eat the fricken fish!
@michaelkelly7635
@michaelkelly7635 Год назад
Lennar for Racketeering #1
@iamblessed1797
@iamblessed1797 Год назад
That's insane. Have a great time
@eclipsegsx96
@eclipsegsx96 Год назад
How was Covid?
@flbizowner9384
@flbizowner9384 Год назад
Lennar = 1%er’s any questions?
@koueisiong1388
@koueisiong1388 Год назад
Absolutely bonker!!!!!
@realestatemindset
@realestatemindset Год назад
100% BONKERS
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