>> Major funding for "Opportunity Knock$" is provided by the National Council for Financial Opportunities, a nonprofit dedicated to reducing poverty and creating economic mobility by breaking down systematic barriers, increasing equitable access to capital, and making opportunity accessible to all.

Its programmatic areas of focus include financial resiliency, financial accessibility, and income adequacy.

Additional funding provided by Balance, a national nonprofit financial-counseling agency... and by Callahan & Associates, which facilitates collaboration between financial cooperatives.

Previously on "Opportunity Knock$"... >> It's possible we could have a home for our kids to grow up in.

Thank you.

>> I think your next step is a small-business loan.

And I would love for you to set an appointment with LiftFund.

>> I need you to work on a budget.

We want to see how much you're actually spending a month.

>> I think that you both need to get business plans in place.

>> We've never did a business plan concerning the church.

>> I wanted to ask if you would host an art show.

>> If you can bring some of the paintings or something like that in, I'll be happy to put it with the people who make that decision.

>> Jean didn't seem, like, super-thrilled about a Teachers Pay Teachers.

>> Every day, millions of Americans must make the choice between rent and food.

"Opportunity Knock$" has matched three expert coaches with six struggling families to give a personalized financial experience that even you can benefit from.

Through this journey, we will see that the American dream is possible with the right advice.

Will the obstacles they face prove to be too much for these six families or will the coaches help them open the door when opportunity knocks?

♪ >> I was wondering why that $27 for salsa.

>> [ Laughing ] Yeah.

Like, I remember going in and being like, "Oh, oh, oh, ooh!"

[ Laughs ] We were going through Jean's homework of looking at our spending and doing our budget.

And then this was when we went out to church.

But we've done really well.

[ Knock on door ] Jean's coming over to the house again.

>> Hello!

Welcome back.

>> It's good to see you again.

>> This time, instead of feeling really anxious and scared, I'm excited to see her and I'm excited to tell her about the homework we did.

>> So, tell me how it's going.

>> Going well.

It's been going really well.

>> Good.

Good.

>> Looking at our spending, we were able to cancel some subscriptions that were kind of forgotten about.

>> Are you tracking?

Are you -- >> Yes.

>> Yeah?

>> Yeah.

>> Yeah, I can tell.

[ Laughter ] What did you notice about places where money was going that you just didn't expect?

>> Groceries.

>> Yeah.

We were spending a lot on groceries.

We didn't feel like we had a lot of waste, but we still felt like we could cut back on certain things with groceries.

>> Is it something that you think you can keep up with for a little while, just the tracking to keep on top of it?

>> It's definitely a habit that you need to exercise that, obviously, I wasn't used to, because I was swiping and praying.

>> And does that -- How has that translated into your level of stress every two weeks?

>> I feel like, "Okay, everything's taken care of."

It's not like, "Do we need to shuffle money around?"

It's things are taken care of, which, like, eases the stress on us.

>> Yeah, and I think I've been less stressed from simply creating this habit of tracking what I'm spending, but also logging it and making sure I'm logging into my bank account more often.

>> Have there been any overdrafts?

>> No.

>> Awesome!

>> And I've paid down most of that credit card.

>> Yeah.

>> The next pay period, I'll be able to pay it off.

>> That's great.

How about consolidation?

Like, you know, there were a lot of accounts in a lot of places.

Have you thought about zhuzhing them together?

>> Yeah.

So, we went on The Opportunity Finder and we had our meeting with Balance, and they were really helpful.

And I want to cut ties with one of my banks.

>> Are you thinking that you're going to put your accounts in the same financial institution?

>> Yeah.

We want to stick with one servicer and still maybe hold on to a couple accounts, but that way, it's easily transferable and we have it all together.

>> Sounds good.

Did you use The Opportunity Finder to find a career counselor?

>> Yes.

So, I met with a career counselor.

They gave me some really good advice on what I could use my master's for.

And so I'm really looking into the hospital fields in Philadelphia.

I think it would be a good growth opportunity.

The salary seems better.

Probably a better opportunity for my family.

>> It's a nice thing you're doing for your family.

I mean, you guys are clearly a team, you know, in the way that you work together, that you protect each other.

You know, it's nice to see.

>> Aww.

Thank you.

>> That's so nice.

>> So, what are the next steps?

Are you going to redo your résumé, start doing some interviewing?

>> Yeah, I plan on starting that now.

>> Sounds good.

>> Yeah.

>> It's exciting.

>> It is exciting.

>> A little daunting, right?

>> A little nervous, but it is exciting.

>> Yeah.

Amazing.

This is great progress.

>> Yeah.

>> So, as you move forward, Teachers Pay Teachers is still a bit of a concern.

>> Well, so, it's not selling as much as I would hope.

>> Any sales?

>> Yeah, so, I've sold about like $40.

>> Okay.

And did you do anything different in order to get those sales?

>> So, one of the things I was doing was, I was changing the covers of my products so that they were a little bit more clean.

>> Alright.

That sounds -- I mean, it sounds like you're making progress.

And you said you were going to look into making a business plan?

>> Yes.

So, I made the business plan, and it helped generate any questions I have going forward that I could ask somebody, because none of the people in my circle really work that much on Teachers Pay Teachers.

So I don't know if you could help.

>> Sure.

Well, I'm going to send you back to The Opportunity Finder, because we'll be able to use that tool to help you locate a mentor, somebody who actually is familiar with Teachers Pay Teachers and can take a look at your materials, take a look at what it takes to sell on Teachers Pay Teachers.

I've never done it myself, but there are, I know, a lot of teachers who make a decent amount of money doing this.

Let's get you that mentor, and we can get you some help with that.

>> It felt really good talking with Jean.

And it's not over.

But I feel like the first step into this was the hardest, and now it's like we just have to keep the wheels going.

>> Thank you so much for coming back.

>> Of course.

Anytime.

Alright.

>> Thank you so much.

>> Oh, sure.

Text me anytime.

>> We will.

>> Okay.

>> Absolutely.

♪ >> Alright, we're going to start with a boxer shuffle.

So bob and weave.

Here we go.

Be sure to keep your core tight.

Look down at my timer.

Here we go.

Since I am pursuing this group-fitness certification, I need to practice actually teaching somebody.

>> I feel like I'm about to get crushed.

>> What do you mean?

I'm gonna work you out too hard?

[ Both laugh ] >> Okay.

>> I just don't normally do this.

>> I am fortunate enough to have a guinea pig here.

Cross, jab.

Cross, jab.

Cross, jab.

Cross... And you do pretty well.

[ Laughs ] >> Do you think -- oh!

-- that we can get a house for 250?

>> Well, we've been talking a lot about this.

We should just get online and search and see if there is anything that's in our price range.

>> See what's out there.

So, now that we know we are pre-approved for up to 330, we can start looking online and find what's in the area that meets our needs.

What's for sale?

>> Okay.

>> Sort by price.

>> Three beds for sure, two baths.

Even though we're pre-approved up to 330 and we have that opportunity, our cautious nature, we still want to be frugal and we want stay lower, closer to that 250 range, ideally.

And looking online, that is possible.

Safe area.

We've got to think about schools, too, with the kids.

But look at this one.

This looks like a newer townhome.

It's right at the top of that budget, but... Look -- there's two other more modern townhomes, too.

It's nice to know that there's at least options out there.

>> I am genuinely surprised that there are any homes in the $200,000 range in our area.

>> One, two, three, four, five.

So five.

Oh, and then there's three other listings.

These are all in our range, babe.

So it is possible.

>> There aren't a lot, but there are some, and so that's encouraging.

I think we have a pretty good idea.

>> It's possible, right?

>> There's some things within our price range.

>> Yeah.

This childhood excitement is coming out in me, and now I have to remind myself to still -- "Okay, this is a big deal.

We need to be smart and sensible about this."

And I think Jean is going to be able to take this information and help us see not only is home ownership a realistic possibility, but growing our wealth and staying in this home -- maybe she can help us see what that looks like and still inform us what that involves.

>> So, now we got to figure out the next steps.

>> Yeah.

Let's go.

♪ >> Alright, well, these look great.

>> They came out really well.

>> They really did.

So... >> Are you ready for this meeting?

>> I don't know, but it's time to have it, so we might as well.

>> It's time to have it.

>> I'm getting ready to go to the leadership team to present this strategy to them, this business plan.

And I have a great team.

They're always ready to do what's best for the church.

But I'm finding it hard within myself just to kind of, like, get the nerve up to make this presentation.

Alright, let's go.

If there's one thing that I'm confident about going into this meeting is that I believe that the plan is solid.

I know that the direction came from Patrice.

I have just a great confidence that it's gonna work and it's gonna work well.

Appreciate you guys coming out.

We've had an amazing journey, an amazing six years.

With that being said, I wanted to call this meeting so that we can talk about some necessary components I believe that we need to address for the betterment of the vibrancy of our church and the legacy of our church, right?

So, just a couple of things that we want to talk about.

And I made these.

Do you want to pass these out, hand them out?

>> Yeah, we can just take one and pass it out.

>> Take one.

Yeah.

Because we're turning a page through the pandemic and the hurricanes and all that kind of stuff, it's pushed us into rebuilding.

How are we going to be sustainable?

I don't ever want to be in a position where we were going to have to close the doors.

How can we improve how we handle the budget going forward?

But we're going to implement a plan.

So, if it's me officiating or one of you guys officiating, then we are covered for our time, right?

>> Yes.

So, like, all of those times, you know, like, Danielle, you're coming in, you're working everybody's events or any outside events, you know, that fee is going to cover, you know, your time.

>> So that when we bring other pastors on staff and have to hire other positions that we'll already have in place the plan that gauges that.

>> Okay.

>> And, so, this is how it goes.

After the rent and the lights are covered and storage is covered and all that is covered, the remaining balance will be broken into the 60/40 that you see before you.

>> Yes.

Okay.

>> Okay.

>> And, so, I'm leaning on y'all to help me lead that charge.

>> Alright.

We're moving forward with a pl-- with a vision and a plan.

>> Yes.

>> With a vision and a plan.

>> So, what I'm asking for is three things -- prayer, support, accountability -- from you.

>> Amen.

>> If you were asking me, do I feel like, you know, they're supportive and receptive, and then I'd have to say this group of guys is 100%, yes.

>> Amen.

>> Thank y'all.

>> Thank you.

>> I'm excited.

>> I am, too.

>> This is really exciting.

♪ >> Today, I'm going in to meet with Rick again.

And I am hoping, absolutely hoping, that I get a yes on them hosting my art show and also a solution for saving our ranch.

Hi, Rick.

I'm back.

I came to bring you one of my paintings so you can see it.

>> Oh, wow!

That is most impressive.

>> A favorite of many.

>> I'm going to take it to our marketing people a little bit later, but most impressive.

>> Thank you so very much.

>> Hopefully you're going to be impressed with what I'm going to show you today.

>> Okay.

Awesome.

>> So, remember, we had the guy come out and look at your property.

>> I do remember, yes.

>> Okay.

So, that was the appraiser.

We also -- He had a contractor take a look at it so that can be incorporated in the appraisal.

>> I see.

Okay.

>> Because all that work done to the house wasn't going to be for free.

It's like $96,000.

>> [ Clears throat ] >> And that's why -- >> That's a lot of money.

>> Yeah, that's a lot of money.

The appraiser couldn't even give us an as-is value because of all the repairs that needed to be done.

So they gave us an as-renovated value.

But your property is unique, and this is going to be the only way we're going to be able to work this financing.

So, that's what I said -- we appraise just the house by itself, and it's $335,000, if we spend the $100,000, okay?

>> Ah!

I understand.

>> If you don't spend the $100,000 on it, okay, it's game over.

Nobody can do the loan because of the type of repair.

Okay, the good news is, it doesn't have the apartments.

>> Mm-hmm.

Oh.

>> So, we got an appraisal on the rental property.

Those came in at $165,000.

So -- >> Separate?

>> Separate from your house.

Okay?

And remember I told you about the cell-tower lease.

There's value in those leases.

Yeah, you want to keep the ranch, but I need to show you realistic numbers.

>> Yeah.

>> So, you're getting kind of -- >> I didn't know that -- >> Are you getting upset or excited?

>> No, I'm getting very joyful because I didn't know that there was that value in the ranch.

>> And the value of that cell-tower lease is somewhere between 185 and 200.

>> Wow.

>> So, the property -- Okay, the property that you bought 100 years ago -- Well... >> It seemed like -- feels like I've been -- >> Okay?

2006.

You've been paying on it forever.

Here.

Take a tissue.

>> Thank you.

>> Okay.

You got close to $700,000 worth of property there.

>> Wow.

>> Okay?

>> As Rick is telling me that my home can be worth several hundred thousand dollars and that the home can potentially be completely repaired and renovated, I am just elated with so much happiness.

>> We need to restructure this whole property.

And while this house is getting repaired, alright, we are going to look at putting some of these other assets -- that apartment complex or the cell-tower lease or both -- on the market to sell.

>> Oh, that kind of makes me feel a little bit uneasy, because that's my -- that's the only income that's coming in right now.

>> Okay.

The apartment complex they appraised at $165,000.

>> Mm-hmm.

>> Now, if you sell them, we're going to lower your mortgage balance, and that gets you into a payment of around $1,200, $1,300.

So we saved you $500 on your current payment.

Plus, we got your house renovated.

That's kind of one option.

If you sold both of them, the cell-tower lease, that'd be enough to totally pay off your mortgage.

Your house would be paid for free and clear.

Because there's no point in holding on to all of these pieces.

>> Right.

>> All that's doing is causing you a lot of stress.

>> Yes, absolutely.

Yeah.

Just what's coming to me right now is just I would prefer to continue to receive income from the tenants and sell the tower.

>> Okay.

And that gets you the most money right now, which that pays down the loan, which lowers your payments.

>> Right.

Absolutely.

>> And we go from there.

>> Yes.

>> Okay.

>> Thank you so very much.

>> So, you feel better about it?

>> Yes, I do.

I really do.

>> With that, I'm going to work out to reaching out to the title company.

We're going to follow up on things.

And I'm going to take your painting right now to the marketing department.

>> Really?

>> Yeah.

Give me just a few minutes.

>> You're gonna do it right now?

>> I'm gonna take it right now.

>> Oh, okay, Rick.

Wow.

Thank you so much.

It feels very good having a partner on my side like Rick.

It feels very comforting.

That is my new security, my new safety net to have mentors like Rick and others at the CDFI.

>> We are good to go.

>> They said yes?

>> They said yes.

>> Oh, my gosh.

>> Said they were most impressed with the painting, as well.

They'll actually be reaching out to you.

>> Okay.

>> We'll go from there.

>> Today feels like a miracle.

A very good miracle.

>> So good to see you again.

And I'm looking forward to seeing the art show.

So we'll see you there.

>> Oh, I can't wait, yes.

>> Get everything moved up, and then I'm going to take a look at your house when they get it done.

>> Absolutely.

Alright, Rick.

Have a good one.

>> You have a great week.

♪ >> So, to set up for today's LiftFund meeting, I had to give them my business plan, register my business, come up with a cool, creative name for my business, give them three months of pay stubs.

And it was a lot, but I did it.

And now I have a meeting on Zoom face-to-face with my LiftFund guy.

Hello.

Good afternoon.

>> Hey, Ms. Moore.

How are you doing today?

>> Alright.

How are you?

>> I'm well.

So, Ms. Moore, we received your business plan, and I had a chance to go over it.

And I will say, I'm impressed.

Great job of kind of forecasting your business.

Down to the penny, how much money, you know, this one van would make.

And so that was real impressive.

>> D'Undray loved my business plan.

Gilene loved my business plan.

So I feel like it must be good.

All these people are not going to just tell me that it's good if it's really not good.

>> And to this point, you're checking all of the boxes of things that we look for, and you really do have a foundation for a very successful business.

>> Thank you.

>> And you want to purchase a van?

Is that correct?

>> Yes, sir.

>> Okay.

Right.

That's an advantage of coming to a non-profit microlender.

We can definitely look at that.

Alright, Ms. Moore, look, thank you for, you know, sending all the information back in.

We have the business plan.

We have your bank statements.

We have LLC documentation.

So we have everything right now packaged up and ready to send over to our underwriting team.

>> Okay.

>> Normally, it takes our underwriting team about 24 to 48 hours to make a decision.

As soon as we hear back, from them, let's know the results.

So we're excited.

>> I'm definitely excited, too, and I'll definitely be checking those e-mails.

Thank you so much for everything.

>> Alright, you're so welcome.

>> Bye-bye.

I'm applying for a loan.

Usually, I am applying for jobs.

So very big step.

♪ >> This is it.

>> God, I hope we get it.

>> I'm so nervous.

This is the second time around for our CDFI, and we're gonna have a meeting with Manny.

And I'm excited.

We've done our homework.

We've worked hard to get to this point.

We have our budget.

>> A lot more clarity.

>> So, how have you folks been?

I know the last time you guys were here, you guys spoke with Ana.

I see in my notes that you guys had met and had a great conversation.

She even saved you guys a little bit of money on some -- >> She saved me $1,000.

>> How about that?

That's fantastic.

>> It was amazing.

>> That is fantastic.

>> Yeah.

>> So, I noticed through my notes that Ana had left me, you had a little bit of homework to do when it comes to your guys' budgets.

Did you guys -- Were you able to complete it?

>> Yes, we did.

>> Oh, great.

Great.

>> I'm a good student.

>> Oh, that's fantastic.

I'll let you set up there, James.

But in completing the application, a couple of the things that I did want to ask you, I just wanted to get a little bit more information on your income.

>> Okay.

>> Your gross monthly income.

>> Right now, my monthly salary is about $7,500 a month before taxes.

And we're budgeting right now $8,000 a month, what we spent.

>> Okay.

>> But we're hoping to offset some of that with my income with my new business.

>> Oh, that's great.

>> Yeah, so that could help.

>> That would definitely help out.

>> Yeah.

>> So, James, how long have you been with your employer?

>> I've been with my school district for 16 years.

>> 16 years.

Great.

So, what I'm going to do is, I'm going to crunch some numbers here and see what we can get you guys going.

>> Okay.

>> There's always that insecurity you're going to be rejected.

>> What we're really hoping is that we can get this great loan, but we can also afford what we're paying in rent.

So -- >> The monthly payments.

>> Yeah, we want this to be within our budget.

>> Yeah.

>> So, great news, folks.

James, your credit is fantastic.

So we went ahead and pre-approved you for $500,000.

>> Oh, my God.

>> It blows my mind that this is possible.

It doesn't feel real.

>> It's like it doesn't feel real.

>> It's an amazing approval with that amount.

What would be the monthly?

>> Sure.

Now, this is -- James, this is with taxes, this is with insurance, everything included.

You're looking at $2,160 a month.

>> Oh, my God.

That's less than our rent.

>> That's less our monthly rent.

>> [ Laughs ] Our rent.

And you get a whole house.

>> So, what I'm going to do now is, I'm going to go ahead and print out a pre-approval letter.

>> Okay.

>> And on that pre-approval letter, it's going to have all the information that we talked about today, and you'll be able to hand it over to any Realtor that you meet in the areas that you're looking for.

>> Great.

>> They'll be able to pin down some properties in your price range and in the areas that you guys like.

>> Okay.

>> And then we'll get started.

>> Oh, my God.

>> How's that sound?

>> That's amazing.

>> That's incredible.

>> Thank you so much, Manny.

>> You're very welcome.

>> Thank you so much.

>> Thank you.

>> Wow, we've been wasting a lot of time and money in L.A. for -- >> Yeah, I feel like, you know, we did.

You know, we felt, "Wow, we could have gotten this 10 years ago maybe."

>> Yeah.

>> Alright, folks, got your letter here.

You guys are all set.

Again, remember, it expires in 90 days.

There is a date there down at the bottom that you'll be able to see.

And this is just another building block for you guys to start that family more affordably, spend time with them.

>> Yeah.

>> I wish you guys all the best.

I truly do.

>> Oh, my gosh.

I have so many people I know are trying -- are in a similar position here in Los Angeles.

And I'm happy to share with them what I have learned about the CDFIs and what they could go, you know, to get help.

>> Alright, take care.

>> Bye-bye.

>> Bye-bye.

>> To find your own opportunities, please visit opportunityknocks.net.

Next time on "Opportunity Knock$"... >> That brings us to even bigger news.

I'm so excited, y'all.

I could barely sleep last night.

>> Wow!

>> Like if she is going to feel like, "Oh, my family's not here."

>> I am going to have my very first art show hosted the CDFI.

>> How we doing, girl?

>> Hi.

How you doing, Rick?

>> We wanted to make you guys dinner.

We wanted to say thank you.

We also have news to share.

>> Yes.

>> Are you pregnant?

>> [ Laughs ] >> Major funding for "Opportunity Knock$" is provided by the National Council for Financial Opportunities, a nonprofit dedicated to reducing poverty and creating economic mobility by breaking down systematic barriers, increasing equitable access to capital, and making opportunity accessible to all.

Its programmatic areas of focus include financial resiliency, financial accessibility, and income adequacy.

Additional funding provided by Balance, a national nonprofit financial-counseling agency... and by Callahan & Associates, which facilitates collaboration between financial cooperatives.