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"Millionaires" Get Foreclosed On - YouTube
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a good sign of how you treat others is
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the response you receive when you're in
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crisis the mcbrooms are facing a
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financial crisis and there are a lot of
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people clowning them on social media in
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today's video you'll have a pretty good
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understanding of why here's one of
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catherine's recent photos on instagram
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with the comment section flooded with
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mean-spirited comments catherine and
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austin are great at creating the mirage
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that their family is perfect and they're
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an inspiration to others but look a
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little deeper and you'll understand why
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the haters come out when their family is
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in crisis
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and we're gonna continue to grow
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going to continue to inspire
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change the world
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ace family we love you i wasn't familiar
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with the ace family before the social
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gloves event drama became public since
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then i've been doing quite a bit of
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digging and this is a family surrounded
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by constant drama lawsuits and most
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importantly what appears to be a habit
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of screwing other people over on
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september 2nd 2019 a house tour video
[49]
was released on the ace family channel
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showing off their huge 10 million
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mansion in sunny los angeles but it's
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very calming it's just very good energy
[57]
in our house good energy positive vibes
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only
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when news first hit keemstar's twitter
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fingers that the mcbroom's house was
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going to auction i used batch driven to
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look into the loans taken out on the
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property at the time i found it really
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odd that they had two loans on the
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property totaling nearly 10 million
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dollars it was a brain fart on my behalf
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not to look at who five arch funding was
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funny enough at the gym the other night
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i had a thought that five arch funding
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sounded more like a hard money lender
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than a traditional lender why i was
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thinking of the mcbroom's house loans
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and not checking out the talent at the
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gym is probably why i'm crushing it on
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youtube and not so much in my dating
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life i googled five arch funding and
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found what i had expected to be true
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they're a hard money lender since some
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of you may not know the difference hard
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money loans are expensive loans used by
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house flippers that almost always have a
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one year payback term they're considered
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expensive because the borrower typically
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pays multiple points at closing and an
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interest rate of 10 to 12 percent on an
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interest-only loan a one-year term means
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the borrower needs to repay the full
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loan back in 12 months or face penalties
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or even worse he might get put in time
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out like little team art at the end of
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july 2019 the mcbrooms took out a hard
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money loan of 8.85 million dollars from
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five arch funding corp and another 1
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million dollar loan from tmk development
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llc who i'm assuming is also a hard
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money lender what confuses me is why the
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lenders would loan 9.85 million on a
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property that isn't worth that even hard
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money lenders will only go up to about
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75 percent of arv especially if you
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don't have any experience in renovating
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houses let's say they had the value of
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the home at 10 million
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that would only be loans totaling 7.5
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million dollars these are interest-only
[150]
loans which is why the amount owed is
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high relative to the overall loan amount
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but i'm still shocked at how much money
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these companies lent for this project
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i'm sure the lenders were calculating
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risk and thought to themselves hmm the
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odds of the husband creating a boxing
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event that will lead to a 100 million
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lawsuit and the wife screwing over her
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business partners and facing a lawsuit
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of similar size has got to be pretty low
[169]
so we'll approve the loan the amount
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owed is about 9.5 million dollars at 12
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interest the loan is 95 000 per month
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interest only add on property taxes
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which for that property are exactly 10
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000 a month insurance and maintenance
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gives you a total monthly cost of well
[185]
over a hundred and ten thousand dollars
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every single month and that doesn't
[188]
include the future therapy bills for
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their children a few days ago a channel
[191]
named static john went to the auction
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for the ace family house and showed that
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no one was interested in buying and then
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they would sell it here at an auction
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like this usually the opening bid for
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the house will be exactly what's owed on
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the house so whatever the balance is of
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your loan will be the opening bid today
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they set up opening bid for the ace
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family house of a little over nine
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million dollars
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no one here bought the house or no one
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here wanted to buy the house no one
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wants to buy the house because they
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would have to buy it in cash it's
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incredibly overpriced and no renovations
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are needed and because the mcbrooms will
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probably still show up a few times a
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week to film their videos i hope you
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don't mind them filming in your driveway
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on a side note i've made a lot of videos
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detailing why famous athletes go broke
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one of the reasons they do is similar to
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what the mcbrooms did which is spend an
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exorbitant amount of money on a
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custom-made house that no one else
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values the same as them when tough times
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inevitably hit they can't sell the house
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losing all the equity they supposedly
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had why are these two still in their
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house if they are facing foreclosure
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because the process of getting them out
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of the house could take a long time the
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title of the property is back in the
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hands of the hard money lender with the
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first position my assumption is five
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arch funding five arch will need to
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evict the mcbrooms from the property as
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they are now the official owner but i
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don't see that happening right away my
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guess is they're going to list the
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property for sale soon and hope to
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recoup as much of the money owed as they
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can i'm not familiar with the
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foreclosure eviction process in
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california but given that it's
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california the mcbrooms will probably
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have free rent for a few months all
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right el you're not going in the pink
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card today you're going in the lambo
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is that okay
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the mcbrooms rose to prominence on
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youtube within the exploiting your kids
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for views niche it's a weird niche
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because clearly people enjoy this
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content the mcbrooms have 4.3 billion
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views on their channel but they also are
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only successful because they're using
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their kids as the main characters
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against their will what are your friends
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going to say when you pull up in a lambo
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at school
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[Music]
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oh they're going to be playing in this
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ultra cringe video austin takes his
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young daughter to school in a lambo
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hoping to gain the validation of her
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friends you can't see her face but she's
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looking off in the distance confused
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because even she's embarrassed her dad
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is trying to get cool points from a
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bunch of five-year-olds oh look at the
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kids
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look at your friends oh my gosh what are
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you gonna tell him
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you should say you got dropped off into
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uber i would rather watch fake guru ads
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on a loop for 24 hours straight than
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watch this video how do people enjoy
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this i don't get it austin pulls up to
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the school and puts the camera on her
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friends looking at the car so he can get
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validation of his success i guess the
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reason why i find this entire story to
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be interesting is because austin became
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a fake guru for a few days as he
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released a course called how i became a
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millionaire where he taught students on
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how to become millionaires using social
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media i didn't take the course but after
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watching his content and following his
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business ethics i can only hope it
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included a section on hiring lawyers and
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staying relevant despite having trash
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content and being mired in controversy
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this is catherine mcbroom the wife who
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has also been involved in her own
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controversy she's getting sued by tbl
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cosmetics inc who is the co-founder of
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her beauty brand 1212 gateway llc i'm
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about to break down just how easy of a
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life the mcbrooms could have had if they
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weren't completely incompetent adults i
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was as shocked as john coffey at the end
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of the green mile by how much money
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catherine could have made if she didn't
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screw her co-founders over catherine
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mcbroom invested 280 thousand dollars
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for a 63 membership interest in 1212
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gateway along with its sweat equity tbl
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cosmetics invested 120 dollars for a 30
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membership interest paul kaser's an
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inactive california attorney with whom
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catherine mcbroom has other business
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ventures and a personal relationship is
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a non-voting silent member with a seven
[403]
percent interest paul kaser was one of
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the guys behind the scenes for the live
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by live and social gloves fiasco who is
[409]
managing austin it was really
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interesting seeing his name here and i
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was pretty surprised to see catherine
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having access to 70 equity given that
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she was only going to put in about one
[418]
percent of the work these paragraphs
[420]
list out that tbl cosmetics has had
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previous other product lines they
[423]
developed and oversaw the operations
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they had a chief scientist devote her
[427]
efforts to creating a premium product
[429]
they had industry expertise which
[431]
positioned this company to be successful
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from the start and they implemented
[435]
strategic financial planning and cash
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flow management what's so funny to me is
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when people think these influencers are
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self-made entrepreneurs kylie jenner
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self-made billionaire what really
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happens is you have a company in the
[446]
industry partner with the influencer and
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make it appear like it's the influencers
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company the influencers are just
[451]
marketers posting about the product but
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literally don't handle any other aspect
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of the company the only difference
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between them and a sponsor is that they
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have equity in the company they're
[460]
endorsing tbl cosmetics ran 1212 gateway
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day after day building up to the
[464]
company's initial launch and restock
[465]
events ultimately creating proprietary
[467]
turnkey systems that work exceptionally
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well imagine how great life would be if
[472]
you could have a company capable of
[473]
building out a turnkey system for
[475]
generating crazy profits on products
[477]
under your brand and all you have to do
[479]
is make a few posts a month about it the
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best part they only want 30 equity
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considering 12 12 gateway was formed
[485]
less than a year ago it has performed
[486]
far beyond expectations and is already a
[488]
global brand the level of success
[490]
enjoyed by 1212 gateway to date is a
[493]
direct result of the tbl's leadership
[494]
and day-to-day management of the company
[496]
a lot of people still clown on the idea
[498]
of being an influencer as a career but
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let me tell you a little something
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actual influencers who can drive sales
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make stupid money as you'll see right
[505]
here at 1212 gateway's initial launch on
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december 12 2020 the company completely
[509]
sold out of its inventory selling over
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one million dollars in products within
[512]
the first 30 minutes that's without paid
[514]
advertising too real influencers can
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build eight figure companies in months
[518]
if the infrastructure is correct i'm
[520]
beginning with the backstory so you can
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see how damaging catherine's alleged
[524]
behavior was to this brand and how much
[526]
money she could have been making two
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weeks later 1212 gateway hosted a
[529]
restock event which also sold out 1212
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gateway exceeded its initial predicted
[534]
revenue and product development metrics
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they also succeeded in delivering twice
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the inventory than what they projected
[539]
just imagine if austin had as many loyal
[542]
fans willing to pay for his event as
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catherine did for her product the
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limited drop and restock events have
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created buzz and driven up customer
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demand in anticipation for more products
[550]
has continued to build if 1212 gateway
[553]
continues its upward trend it stands to
[555]
make 60 million by the end of 2021.
[557]
those two were gifted social media
[559]
success and are still royally screwing
[560]
everything up from an objective point of
[562]
view their content isn't above average
[564]
in storytelling editing or ideas and the
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success has been mostly driven by their
[568]
young kids the ace club was an utter
[570]
failure they had a drink called silly
[572]
juice that i don't believe panned out
[573]
they had charity events that people call
[575]
a scam austin's fake guru course was
[577]
trash the social gloves event has led to
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a 100 million lawsuit no one getting
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paid and as you'll see in a second
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catherine basically ruined a potential
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nine figure company they've somehow
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failed upward and i don't get it instead
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of responding to 1212 gateway's initial
[590]
success with appreciation for or
[592]
continued collaboration with tbl and
[593]
apparently under the misimpression that
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1212 gateway was running itself at this
[597]
point catherine mcbroom has instead
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conspired with her family friends and
[600]
other underutilized members or idol of
[603]
her entourage to stage a takeover of
[605]
1212 gateways management i don't know if
[607]
i should be confused or jealous
[608]
catherine had 63 ownership of a company
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projected to do 60 million dollars in
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sales in its first year was basically
[614]
turnkey and didn't require anything from
[616]
her other than looking cute on instagram
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she must have received the same advice
[621]
austin did just don't pay anyone and
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keep the profit to yourself paragraph 42
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describes that catherine somehow
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obtained all the admin access
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credentials for all the portals used to
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run this business including the shopify
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godaddy and instagram accounts it sounds
[633]
like keeping catherine away from the
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admin access credentials was similar to
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the guards keeping the security camera
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on jeffrey epstein like come on guys you
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had one job in further defiance of the
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operating agreement and without warning
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katherine mcbroom changed the passwords
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associated with the accounts and or
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withheld from tbl all access to the
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accounts keeping them for herself at
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this point if you do business with
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catherine or austin mcbroom it's on you
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for running into trouble i still don't
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understand how these two have failed
[657]
upward to this degree they lost their
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house so maybe it's all coming crashing
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down but how did they fumble this
[662]
lottery ticket away to be clear miss
[664]
mcbroom's misappropriation of the
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administrative controls is not just a
[667]
matter of limiting who can log in to
[668]
view information on the accounts by
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continuing to block tbl's access to the
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accounts catherine mcbroom is actively
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precluding tbl from carrying out its
[676]
management obligations under the
[678]
operating agreement this is an
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interesting business strategy that you
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won't read about in your business
[682]
textbooks take away access from the
[684]
company running the entire operation of
[686]
your brand all she had to do was exist
[688]
and make top one percent money for less
[690]
work than a mug drug dealer has on him
[692]
catherine mcbroom has attempted to seize
[694]
control over 1212 gateways customer
[696]
service operations aided and abetted by
[698]
a network of associates who are not
[700]
employed by 1212 gateway or approved by
[702]
its board on information and belief
[704]
these persons include individuals
[705]
associated with the mcbroom families
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other failed business ventures i'm being
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serious about this family somehow
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failing upwards into a life consisting
[712]
of a 10 million mansion a fleet of
[714]
exotic cars and most importantly
[716]
opportunities to start eight and nine
[718]
figure companies and they still failed
[720]
paragraph 51 explains that catherine has
[722]
transitioned 1212 gateways product
[723]
fulfillment to her privately owned
[725]
facility her and her family apparently
[727]
recently purchased a warehouse and
[728]
office space that serves her other
[730]
separately owned business ventures the
[732]
lawsuit then went on to explain that the
[733]
facility isn't big enough to satisfy
[735]
1212 gateway's high volume and
[737]
fulfillment requirements and isn't able
[739]
to obtain the same shipping volume
[741]
discounts this is like taking a winning
[743]
lottery ticket straight to a wood
[744]
chipper because doing things yourself is
[746]
more efficient in your eyes based on
[748]
current estimates miss mcbroom's actions
[749]
will cost 12 12 gateway an additional 10
[751]
million dollars in lost revenue this
[753]
year alone here's a psa straight from me
[755]
if there's any company that wants to
[756]
handle all back-end operations for a
[758]
company that will do 60 million dollars
[760]
in sales and only wants a 30 cut i'm
[762]
open for business i will relinquish my
[764]
pride and allow you to do all of the
[765]
work so that i can keep a 70 cut since
[768]
most of these influencer beauty brands
[770]
require a boob job i'm stating now that
[772]
i will not be completing that
[773]
requirement though apparently catherine
[775]
is now threatening to dissolve the
[776]
company despite not knowing how to run
[778]
the company's operations and putting a
[780]
team in place who have a pretty poor
[781]
business track record miss mcbroom
[783]
probably assumes that she can simply run
[784]
the company herself with the help of her
[786]
people who have time on their hands and
[787]
space to boot given the ace family's
[789]
other business outcomes perhaps miss
[791]
mcbroom would have a more accurate
[792]
understanding if she had participated in
[794]
all of the board meetings as she was
[796]
obligated to do i'm fascinated to see
[798]
what happens to austin and catherine
[799]
once they lose their house everything
[801]
they do seems to turn into a scam or
[803]
lawsuit they will soon no longer have
[805]
their house which is really the only
[807]
visual we have that they're successful
[808]
and they have multiple lawsuits that
[810]
should bankrupt them if justice gets
[811]
served if you didn't see my last video
[813]
on social gloves i show proof that
[815]
austin could have personal financial
[816]
liability tied to the event all lawsuits
[818]
require both sides to be heard and this
[820]
is just one so we should withhold
[822]
complete judgment until we hear
[823]
catherine speak about it but given that
[825]
what she and austin say publicly rarely
[827]
matches reality i don't consider her a
[829]
reliable narrator i think the negative
[831]
energy you see going towards the mcbroom
[832]
family for their recent financial
[833]
struggles is just the outcome of
[835]
multiple years of the scams and tricks
[837]
they've pulled on others finally coming
[839]
back to them they've somehow massively
[841]
failed upward which is probably an
[842]
indication that people are only tuning
[844]
in because they're kids and not the
[845]
parents when i first started analyzing
[847]
the social gloves fight i felt like
[848]
austin was creating a ponzi scheme by
[850]
promoting a social gloves 2 before
[852]
paying the fighters for social gloves 1.
[854]
i think i was right he needed new
[856]
profits to pay off old debts until his
[858]
next big event he'll be left with
[859]
lawsuits and unpaid debts and remember
[861]
even if they lose their house they'll
[863]
still have the orange lambo to take
[864]
their kids to school in where they'll
[866]
get plenty of validation from the little
[868]
kids instead of having to deal with all
[869]
those bad people on the internet hoping
[871]
to see their downfall with the way
[872]
they've allegedly treated others
[874]
consider me one of them thanks for
[875]
watching
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