00:00On the cover of Ford's Magazine this month is a photograph of recording artist, rapper, producer, record label owner, Dr.
00:12Dre.
00:13Our next guest looks jazz, live, Dre.
00:18Minus the beard that he's wearing today.
00:21Tell him your full name and what you do.
00:23My name is Darrell Clements.
00:24I'm the president of Intercapital Funding.
00:26And we're a private lender based out of Southfield, and we're known as the bank for the unbankable.
00:33We finance the difficult people.
00:35Wow.
00:36When you say you finance the difficult people, they're trying to get finance to do what?
00:45To buy and sell real estate.
00:46We only deal with the investor side of business.
00:48We don't really do the FHA conventional because that's a market for everybody.
00:53But our market is based on our demographics.
00:55We know our people, and we know what they're buying, what they won't buy.
00:58So we just make sure they have access to capital to be able to purchase real estate at a good
01:03price.
01:03Okay, I'm all over the place here.
01:05Just like I presented to Dr. Griffin, you, too, look like an athlete.
01:12Did you participate in sports in high school?
01:14East Catholic High School.
01:18He said that real quick.
01:20And like Dr. Griffin, you also, that means the both of you worked with the right and the left side
01:28of the brain.
01:29You like numbers?
01:31No, I like what he do.
01:34He said he doesn't change lives.
01:37Man, look here.
01:38And so do you, if the right person is captured through your company, they could change other lives, neighborhoods, city
01:51blocks, states.
01:54They could go a long way because they couldn't get the help without you.
01:59How did you get into that business?
02:01My mother.
02:03My mother, when we was younger, she started buying.
02:05She's working at the GM.
02:07So she started buying houses, things to pay like a thousand.
02:10That's when Hood was having a thousand dollar houses.
02:12Yes.
02:12So she bought the first house, and she started fixing it up.
02:15And then she had a boyfriend who was good at fixing up stuff.
02:19He wanted us to start, he wanted us to help him start doing something to work.
02:22Man, I ain't doing that.
02:25Oh, this is fascinating now.
02:28So what happens next, Darryl?
02:30Oh, man, soon he, and then the killing part, when he died, I got into real estate.
02:33I started buying my own houses, fixing them up, flipping them.
02:37Wow.
02:37And then started renting them out.
02:39And then a couple of them got, you know, I was back during the street era.
02:44So somebody came in and burned a couple of them up.
02:46They were using them for something else.
02:48So by the end of the day, I just had a love of watching the house go from nothing to
02:52something.
02:53Wow.
02:54You then transformed your business where you're the lender.
02:58You're the bank.
02:59Correct.
03:01How did you come about wanting to pursue that lane?
03:05Tired of being broke.
03:09It's a load of that.
03:10Right.
03:11Every time you try to go smipe with some money, it's always a hold up.
03:15You need a whole bunch of extra paperwork.
03:16They had a million different ways to say no.
03:19Yeah.
03:19And then so we had to figure out how to be, well, one thing about my people, we know how
03:24to be creative.
03:24So we had to figure out how to make the paperwork and numbers work to make everybody get their
03:30deal to the finish line.
03:31But a lot of them come to you with a lot of hopes and dreams that it's just not going
03:36to work.
03:37Wow.
03:38You've been doing this how long?
03:40I've been in real estate in France over 30 years.
03:43Woo.
03:44It's incredible.
03:46You work the Michigan area.
03:48Born and raised.
03:50Do you go outside of Michigan?
03:52All over the country.
03:53All over the country with your business?
03:55All over the country.
03:57Wow.
03:57So we got folks everywhere that need a couple dollars.
04:00What do people have to do to find you?
04:05Oh, we go to our website.
04:08www.icfundings.org.
04:13I see the letters?
04:16Yep.
04:17I see F-U-N-D-I-N-G-S dot org.
04:21And that's where you start from?
04:24That's where you start.
04:27You can call us or you can go to the website, but we always have a physical person answering
04:30the phone because now with the new AI thing, you know, you got to talk to the computer and
04:34I can't stand that.
04:35Yeah, yeah.
04:36You stay real with it.
04:38Give us an example of one of the craziest I got them through it.
04:45A lady came.
04:46She was trying to buy, oh, matter of fact, I'll give you one.
04:49A lady got an art studio over on Liver Noise.
04:53Okay.
04:54And then she got into an SBA loan and it was pressing her to get out of it and her
04:59credit
05:00was bad.
05:00So we had to figure out, we had to restructure the loan and a credit score.
05:05So it was below sixes.
05:09Whoa.
05:10Right.
05:10So it was below sixes.
05:11I know because I've been...
05:12Right.
05:13Oh, trust me.
05:13That's low.
05:14Right.
05:14They won't give you anything for that but the score itself.
05:18They give you a good conversation, but that's about it.
05:20Right.
05:20But anyway, we had a lender that took her out at 50% because she had a whole lot of
05:24equity
05:25into the building.
05:26Okay.
05:26But they just wouldn't, based on her credit score, they wouldn't let her get funding for
05:30it.
05:30But we came in, restructured and figured out a way to get her.
05:33We got her like $220.
05:35Woo.
05:36All right.
05:36Well, you know, it's worth about $450, so it wasn't a loss to the lender because they
05:40took it back.
05:40They'd have got a...
05:41It'd have been a good, you know, payday for them.
05:44You have...
05:45Not the way you think.
05:46I was going to say, you have an act for conversation with people.
05:51You like people?
05:52You like talking to people?
05:54Not at all.
05:56You do such a great job.
05:58You cut...
05:59You have the ability to cut through the chit-chat and the extra chatter and get right to it.
06:06I don't like the mini moves.
06:09All of that, this and that and that.
06:11No, I just want to get to the big romance.
06:13I don't like the mini moves.
06:14Let's get to the...
06:14Let's get right to it.
06:16Let's get right to that meat and the tail.
06:18Because a lot of times I nod off on a conversation until they say those key words.
06:23Okay, now it's time.
06:25All right.
06:25Wild.
06:26Daryl, that is great.
06:27That is good.
06:27Angie, you got a question.
06:28So you say you make the unbankable bankable.
06:31Give me a description of unbankable.
06:33See, everybody think unbankable is broke.
06:35Well, for the most part it is.
06:37But the thing is, a lot of times they might have cash assets, but they might not have the
06:41cash or they might have, if you got two of the three, we can make it work.
06:44Cash, credit, or collateral, we can make the deal work for you.
06:47So it's not always, because in the new gig economy, everybody don't have financials,
06:52W-2s, and tax returns.
06:54And when you first started out, you're not really focusing on your tax returns.
06:59You got to pay that next bill because payroll coming up real quick.
07:03So a lot of times you might go a year or so without filing your taxes.
07:06And then the bank will quickly tell you, no, we can't do nothing for you.
07:09But you got good credit scores, good everything else.
07:13But soon they'll come up with one reason and say, no, we can't do it.
07:17Wow.
07:17So when they say, no, you can't do it, that's when you get to work with your creativity
07:21and figure out how to do it.
07:22I tell people all the time, we might not be your first call, but we're going to be your last.
07:28Dr. Clements, making the world bankable for the project.
07:32There's so many young people that want to get into the real estate business and don't
07:38have a clue of how to get financed.
07:40Well, see, a lot of them, it's not always about, see, a lot of people just don't want
07:43to get into the brick and mortar of things.
07:44A lot of times you can get in on the backside of it, you can finance the deal as well.
07:48Because you think about it, I was thinking about it, I just, I bought my wife a purse
07:52for my birthday yesterday, right?
07:53And then I'm like, dang, I could have bought something else with that.
07:56You bought property stuff.
07:58I could have put a down payment on a house or something.
08:00So a lot of times, you don't have to be in front of the deal, you can be in the
08:04back
08:04of the deal as well.
08:06Again, how do they get in touch with you?
08:08You can call me at 248-955-1234, or you can go to our website, www.icfundings.org.
08:19955-1234?
08:20Count the money.
08:21Dr. Clements, thank you.
08:23That's powerful.
08:25That's powerful stuff, man.
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