Full Transcript for How to Build a Profitable Rental Property Portfolio from Out of State

five can live comfortably without that additional burden to them or to me when uh when it comes to maintenance. 00:05:13.279 --> 00:05:13.519 Right. 00:05:13.680 --> 00:05:28.399 That's one thing people I I don't think take into uh account too much is the size because you gotta think down the road when the tenant moves out, how much is that unit turn gonna be? 00:05:28.560 --> 00:05:31.519 And the bigger the house, the more expensive that is. 00:05:31.680 --> 00:05:33.759 So that eats into your cash flow. 00:05:34.000 --> 00:05:39.279 So you mentioned different kinds of real estate commercial, industrial, retail. 00:05:39.920 --> 00:05:43.920 What drew you to section eight? 00:05:45.199 --> 00:05:46.079 Great question. 00:05:46.319 --> 00:05:57.040 So what drew me to section eight was simply the attractiveness of the guarantee income because you're essentially renting to the federal government, right? 00:05:57.279 --> 00:06:01.600 Now, albeit that the the tenant may have a portion, right? 00:06:02.480 --> 00:06:13.920 10%, 15%, what whatsoever, but it's negligible where the bulk of the rent will cover your break-even point, or we call it the nut in the real estate market. 00:06:14.160 --> 00:06:17.120 Um, that guaranteed cash flow is extremely crucial to me. 00:06:17.360 --> 00:06:22.800 Um, the reason it's important because one, I'm able to forecast my cash flow. 00:06:22.959 --> 00:06:25.759 I have a background in finance, so numbers mean a lot to me, right? 00:06:25.920 --> 00:06:34.800 Especially when you raise capital with investors, and when it comes to reporting, quarterly reportings, you have to get you have got to get your numbers correctly, right? 00:06:34.879 --> 00:06:37.519 In case you want to raise an additional round of capital. 00:06:37.759 --> 00:06:45.519 Um yeah, so it's the longevity, the recession proof, and there are only a few things that are guaranteed in life, right? 00:06:45.839 --> 00:06:49.839 US Treasury Bond, Section 8 are among some of the few guarantees. 00:06:50.000 --> 00:06:52.560 Um, that's what attracted me to Section Eight. 00:06:52.879 --> 00:06:53.600 Got it. 00:06:53.759 --> 00:07:12.560 Yeah, it's interesting because as a realtor, um I see I don't know if this is my own thing or you know, that the guys that focus on the investment side, it's kind of like you know, look down upon. 00:07:12.879 --> 00:07:13.519 Why? 00:07:14.000 --> 00:07:16.000 Uh it's not glamorous, you know. 00:07:16.399 --> 00:07:19.040 Glam doesn't pay bills unless you're an actor. 00:07:19.279 --> 00:07:19.680 Right. 00:07:19.920 --> 00:07:20.240 Right. 00:07:20.399 --> 00:07:25.759 But all year round we're closing, you know, double-digit deals a month. 00:07:26.000 --> 00:07:35.519 Whether it's right now when interest rates are high and the weather's changing, um, or you know, dead in the winter, we're still doing business. 00:07:36.000 --> 00:07:38.959 So what made you decide to come to Cleveland? 00:07:39.279 --> 00:07:40.959 What

made me decide at Cleveland? 00:07:41.120 --> 00:07:46.560 Um, I've done a lot of research, analysis, and pro forma across multiple cities. 00:07:46.800 --> 00:07:52.319 And just simply from a number standpoint, I it made sense for me. 00:07:53.199 --> 00:07:57.600 End of the day, you're not gonna have all of the information you needed to make a decision. 00:07:57.759 --> 00:08:00.319 You're gonna have enough to make an inference, and that's what I did. 00:08:00.560 --> 00:08:02.879 I've got enough to take to take a risk. 00:08:02.959 --> 00:08:21.279 I mean, there's always gonna be risk involved, and I felt that I've done my due diligence, I'm comfortable with the area, I've look at the rules of regulation, and of course, the uh the voucher you know payment from the government in comparison to the cost of acquisition, aka the cost per home. 00:08:21.439 --> 00:08:23.279 Uh it made sense to me at the time. 00:08:23.439 --> 00:08:26.000 Um, and it's continued to do so. 00:08:26.319 --> 00:08:29.839 Now, um also in different areas as well. 00:08:30.079 --> 00:08:33.200 Um, but Cleveland is a sweet spot. 00:08:34.000 --> 00:08:35.360 Are things gonna change? 00:08:35.519 --> 00:08:36.960 Yes, to what extent? 00:08:37.039 --> 00:08:37.840 I don't know. 00:08:38.080 --> 00:08:42.799 But I think I've got the process down enough with the right people to scale. 00:08:42.960 --> 00:08:45.759 I think we've been scaling exponentially now at this point, right? 00:08:45.840 --> 00:08:55.840 We've got the system down, we've got the process down, and most importantly, we've got the right people in the right place, the right time to work as a team to achieve that an outcome. 00:08:56.240 --> 00:08:56.320 Right. 00:08:56.399 --> 00:08:57.200 And that's important. 00:08:57.360 --> 00:09:01.679 I've been doing dealing with out of state investors for years now. 00:09:01.919 --> 00:09:11.360 And what I've seen is finding a team, a trustworthy team, is one of the most challenging things that these people have. 00:09:11.919 --> 00:09:17.519 So, you know, like in our infrastructure, we finally built property management that's legit. 00:09:17.600 --> 00:09:20.320 Because in this city, it's very difficult to find it. 00:09:20.480 --> 00:09:26.799 We have the right lenders, um, all the periphery stuff, insurance, legal, accounting. 00:09:27.120 --> 00:09:37.279 Um so what is important to you and how for for a team here and what have you found, you know, that works? 00:09:37.360 --> 00:09:39.440 Aaron Powell So that's a that's a two-part question, right? 00:09:39.519 --> 00:09:40.639 I'll I'll start with number one. 00:09:40.799 --> 00:09:42.320 What's the most what's the most important to me? 00:09:42.399 --> 00:09:43.759 It's just a team with integrity. 00:09:44.000 --> 00:09:45.759 You gotta do the right things at all times. 00:09:45.919 --> 00:09:57.440 And I tell all my, you know, all the folks I've worked with, hey, if you ever needed to make a decision and I'm not around and you cannot get a hold of me, I always want you to make the most ethical, most correct decision. 00:09:57.679 --> 00:09:59.519 As if I'm there. 00:09:59.919 --> 00:10:05.120 Now, it may ding me, even if it may ding me from a financial standpoint, I can live with that. 00:10:05.360 --> 00:10:05.679 Right? 00:10:05.840 --> 00:10:11.279 I always want you to make the most ethical, legal decision at any given point. 00:10:11.440 --> 00:10:13.360 So that's the one thing that I'm looking for. 00:10:13.759 --> 00:10:19.440 Number two, it's I want to look for folk that's got their skills, just things in order. 00:10:19.919 --> 00:10:21.440 Because I move, I move really fast. 00:10:21.919 --> 00:10:23.759 I move really fast, right? 00:10:24.480 --> 00:10:34.960 And at the pace that we're going, if we don't have everything else aligned, it will cause a cascading effect and it could delay the process, right? 00:10:35.120 --> 00:10:41.440 So be ethical, have your process be effective, efficient, be a subject matter and expert in what you do. 00:10:41.840 --> 00:10:45.120 For you is you're a real agent. 00:10:45.360 --> 00:10:48.799 For Joe Schmo, that's property management, for Jane Doe, that could be lending. 00:10:48.879 --> 00:10:53.039 Just whatever the craft that you're doing, make sure you're really good at it. 00:10:53.200 --> 00:10:55.840 Uh, of course, communication and being up front. 00:10:56.000 --> 00:10:58.480 Like, I'm okay with receiving bad news. 00:10:58.639 --> 00:11:05.759 I much rather have you deliver, hey, here's the reality of the situation, than withholding that information from me. 00:11:06.080 --> 00:11:06.320 Right. 00:11:06.480 --> 00:11:11.679 And I try to do when what I've learned in corporate America is called blameless post-mortem. 00:11:12.320 --> 00:11:14.399 I'm not here to point fingers. 00:11:14.639 --> 00:11:28.720 I much rather try to understand the root cause analysis or root cause of the situation where we're at, what needs to be done to course correct and move forward from that, then pointing finger, hey, it's your fault. 00:11:28.879 --> 00:11:31.039 It's that person's fault, X, Y, Z. 00:11:31.519 --> 00:11:34.080 I'll tell you from Let me let me point this back to you. 00:11:34.320 --> 00:11:38.399 You work with me enough, and we've dealt, we've been in some tough situations. 00:11:39.279 --> 00:11:40.559 How did I handle that? 00:11:40.720 --> 00:11:43.840 How was how were those conversations that I've had with you and our team? 00:11:44.399 --> 00:11:50.639 I I mean, I was gonna say I appreciate uh having an investor that can take accountability. 00:11:51.200 --> 00:12:04.799 It's very difficult to um find someone that's willing to admit when they make a mistake or not blame, you know, you know, own up to their part of it. 00:12:05.039 --> 00:12:15.840 Um I'll also say what I appreciate is on the weekend, Sunday, if you want to have a conversation, you text first and say, is it okay to call?

00:12:16.159 --> 00:12:24.320 Which my phone rings you know from morning till night because we have clients in different time zones across the in Europe. 00:12:25.200 --> 00:12:42.399 Um so you know what I found, and it's not this is not the norm in the business I'm in in the investor side, is finding somebody who has ethics and isn't out to get the next person. 00:12:42.960 --> 00:12:44.960 And that's how we've dealt with stuff. 00:12:45.120 --> 00:12:48.639 I mean, we started, you know, what what are we doing? 00:12:48.799 --> 00:12:50.559 Five, six a month now we're closing. 00:12:50.799 --> 00:12:51.360 Seven, eight. 00:12:51.600 --> 00:12:52.720 Seven, eight a month. 00:12:52.879 --> 00:12:55.759 And it's it's ever changing, ever evolving. 00:12:55.840 --> 00:12:57.759 We're learning from each experience. 00:12:57.840 --> 00:13:01.360 I mean, we started buying occupied only, right? 00:13:01.519 --> 00:13:04.639 That was what you came to me and said, I want to do occupied only. 00:13:05.120 --> 00:13:10.720 I told you, and my partner told you we should probably look at some other some vacants. 00:13:11.039 --> 00:13:13.519 There's, you know, there's issues on either side. 00:13:13.919 --> 00:13:15.120 Of course, pros and cons. 00:13:15.519 --> 00:13:21.600 Um we learned from that, not that we're not gonna do it, but we're being more careful. 00:13:21.840 --> 00:13:33.759 Uh now I think the system that we have in place for the vacancies, working hand in hand with the property manager has been uh very successful and it's gonna continue to be. 00:13:34.080 --> 00:13:34.399 Sure. 00:13:34.639 --> 00:13:40.399 Um so yeah, I mean, you know, it's this this business is ever changing. 00:13:40.639 --> 00:13:43.279 I mean, there's no nothing set in stone. 00:13:43.440 --> 00:13:49.200 So we just have to be, and what I like about you is we can we can pivot quickly, you know? 00:13:49.519 --> 00:14:00.559 So um, and you however strong-willed you are, you actually listen to our advice, you know. 00:14:00.879 --> 00:14:03.279 So it's that part has been good. 00:14:03.519 --> 00:14:22.240 So I'm interested to to know, I don't know if you want to share with people, but you know, I'm I'm seeing you see all these reels, all these uh all the stuff on social media, like you should have this amount of cash flow, the expenses are gonna be this, the the maintenance is gonna be that. 00:14:22.720 --> 00:14:30.559 How do you underwrite um your deals to to know if it makes sense or not? 00:14:30.960 --> 00:14:32.480 How do I underwrite a deal? 00:14:32.799 --> 00:14:37.360 Yeah, like where how do you run your numbers to say, okay, Ryan, let's go do this? 00:14:37.840 --> 00:14:42.399 I mean, it's a basic question one-on-one, just use common sense, right? 00:14:42.559 --> 00:14:46.879 I do what's called a mini Monte Carlo simulation. 00:14:47.039 --> 00:14:58.159 And for those that whom are in finance, it's basically you're benchmarking, you're baselining again the expected result and multiple outcomes, right? 00:14:58.639 --> 00:15:08.799 You basically have a wide variety of range of where you think you land, but over a long period of time, you kind of get the average of what you can expect. 00:15:09.279 --> 00:15:16.240 And again, fortunately, I have a background in finance risk management, and tech is what I do as well. 00:15:16.399 --> 00:15:34.879 Um I was able to take some of the, I guess a lot of transferable skills, such as systems thinking, problem solving, basic finance one-on-one, basic career performa, forecasting, understanding cash earn, cash return, IRR, my whack. 00:15:36.399 --> 00:15:38.799 People wouldn't know what a whack is if you're not in finance, right? 00:15:39.279 --> 00:15:49.360 You know, net present value, all that into consideration to create a calculation for my for a prospect. 00:15:49.440 --> 00:15:51.919 Well, and the beautiful thing is I work backwards. 00:15:52.480 --> 00:16:09.600 Reverse engineer, if I want to make X amount of cash flow, I gotta work backward to see at what rent number makes sense for me, and from there is what I'm potentially paying for this property worth it. 00:16:09.919 --> 00:16:20.480 So if I'm getting a thousand dollars in rent and I'm using an arbitrary example, right, it doesn't make sense for me to buy a hundred and fifty thousand dollar home because I'll be at a net loss. 00:16:21.200 --> 00:16:32.639 But if I'm getting two thousand dollars a month in rent and we're talking gross, which is the top number, and I'm paying$160,000 a month, is it worth it? 00:16:32.799 --> 00:16:33.200 Yes. 00:16:33.840 --> 00:16:40.720 Okay, because from the litmus test, it at least passes the 1% rule. 00:16:41.440 --> 00:16:52.639 For those that don't know what it is, it's basically do I get at least 1% of the gross value of the property based for my monthly gross rent. 00:16:52.960 --> 00:16:53.200 Right. 00:16:53.679 --> 00:16:55.120 But you do you think that really works? 00:16:56.320 --> 00:16:58.080 It is it is a filter mechanism. 00:16:58.240 --> 00:17:00.639 I'm not saying that is that's just one data point. 00:17:01.120 --> 00:17:06.319 But you have got to take in consideration multiple data points to make an informed decision. 00:17:06.799 --> 00:17:08.640 We're not gonna get 100% of it. 00:17:08.799 --> 00:17:12.319 You should have enough for you to feel confident to say yay or nay. 00:17:12.960 --> 00:17:13.279 Right? 00:17:13.440 --> 00:17:22.799 Understanding that, understanding taxes, understanding insurance, understanding your leverage, however you get your your money, right? 00:17:23.359 --> 00:17:31.440 Understanding your interest rate and mortgage, break the in contingency for reserve, because that's often overlooked for a lot of people. 00:17:31.759 --> 00:17:35.440 You're gonna have maintenance, it's just a matter of when and how big, right? 00:17:35.839 --> 00:17:43.519 And then give it plus or minus a few percentage for vacancy, and you

can make a forecast. 00:17:43.680 --> 00:17:48.559 Now, am I always gonna be on on the dot my forecast? 00:17:48.640 --> 00:17:51.200 Their answer is never because it's a forecast. 00:17:51.440 --> 00:17:55.759 It's just the best prediction of what's the expected outcome to be. 00:17:55.920 --> 00:17:59.279 And my goal is to be as close to that as possible or exceed that. 00:17:59.599 --> 00:17:59.759 Right. 00:17:59.920 --> 00:18:07.440 Because I mean, with section eight, we have to submit a um uh rent for a rent determination. 00:18:07.759 --> 00:18:13.920 So we can look at the guidelines of what HUD is paying, but we're not guaranteed to get that. 00:18:14.160 --> 00:18:24.240 And that's what a lot of people don't understand when I talk to them is they look at the chart, they see sixteen hundred dollars rent, but what they don't understand is are you paying the utilities? 00:18:24.400 --> 00:18:27.440 If you're not paying the utilities, that sixteen hundred goes down. 00:18:27.680 --> 00:18:30.240 You could expect about 85 to 90% of that. 00:18:31.440 --> 00:18:32.160 That's what we've been getting. 00:18:32.400 --> 00:18:34.480 That's like that's like the again, it's an estimate. 00:18:34.640 --> 00:18:34.799 Right. 00:18:35.039 --> 00:18:40.559 You're not gonna know how to come to that determination when you get their RFTA back, right? 00:18:40.640 --> 00:18:42.319 And hey, you have the right to say no. 00:18:42.480 --> 00:18:44.960 If you feel like, man, this is not worth it. 00:18:45.440 --> 00:18:48.480 Listen, you can say no and go with market rate. 00:18:48.799 --> 00:18:54.960 But more than off more than not, the rent that you're getting from Section 8 is typically a bit higher, right? 00:18:55.279 --> 00:19:04.000 Because they have to incentivize you as a landlord to take on quote unquote risk, right? 00:19:04.240 --> 00:19:06.319 That's gotta be a premium for your risk, right? 00:19:06.400 --> 00:19:21.279 And I think part of my underwriting that really helped me, you know, make determination is the ability to incorporate risk management, identify risk, and implementing risk strategies to minimize my exposure. 00:19:21.359 --> 00:19:24.960 And that's something that I haven't yet seen people do, right? 00:19:25.039 --> 00:19:32.960 People just say, hey, here's how much I'm getting rent, here's my mortgage, insurance, probably MHP, and that's my that's my net. 00:19:33.119 --> 00:19:37.440 No, it's not always the case because there are a lot a lot of factors that need to be taken into consideration. 00:19:37.759 --> 00:19:38.240 Right. 00:19:38.559 --> 00:19:44.160 So a lot of again, right, a lot of people don't take that stuff into consideration. 00:19:44.799 --> 00:19:54.319 Have you seen anything in this year and a bit that we've worked with that surprised you as far as that risk? 00:19:54.880 --> 00:19:58.799 You know, any like I want to be real and tell people the real deal. 00:19:58.960 --> 00:20:06.799 Like what hiccups, what issues have come up that you weren't expecting or surprised you or Yeah. 00:20:07.119 --> 00:20:11.119 I mean, certain cities will have certain city codes. 00:20:11.200 --> 00:20:19.119 Like, for example, one of the cities that I work with you, I'm not gonna say what city it is, because I want to be in good terms with everybody, call it City of X. 00:20:20.079 --> 00:20:20.400 Okay? 00:20:22.079 --> 00:20:27.920 You get what's called a reinspection simply because there's an exchange of ownership. 00:20:28.240 --> 00:20:28.559 Right? 00:20:28.720 --> 00:20:38.000 Some cities require you to do a rental registration, lead inspection, fine, not a problem, but certain cities require to do an automatic reinspection. 00:20:38.240 --> 00:20:40.160 And I got dinged with a hefty bill. 00:20:40.640 --> 00:20:45.519 Like all in all, I'm looking at 6,500 bucks. 00:20:46.960 --> 00:20:48.319 That was unexpected. 00:20:48.960 --> 00:20:56.799 However, I was smart enough to get a deal where my DSER coverage is like 1.4 to like 1.6. 00:20:56.880 --> 00:20:58.559 I don't remember the actual number. 00:21:00.640 --> 00:21:02.640 I'm still ahead of that. 00:21:03.039 --> 00:21:04.000 It's just the difference. 00:21:04.079 --> 00:21:10.640 What the difference in this particular deal was the fact that had I known that, I would not have entered that market. 00:21:11.119 --> 00:21:25.039 Or had it had the inspection done ahead of time, I could have easily baked in some of the contingencies as concession, as an as a concession when negotiating that deal and tie that into part of loan to minimize my risk. 00:21:25.359 --> 00:21:31.039 And from a risk standpoint, I'm looking at as how much money am I putting out my pocket. 00:21:32.240 --> 00:21:32.640 All right. 00:21:33.279 --> 00:21:34.319 I know which house that is. 00:21:34.480 --> 00:21:37.279 I know exactly I know you know exactly how we got a good deal on that house. 00:21:38.079 --> 00:21:39.279 Yeah, but you know what? 00:21:39.440 --> 00:21:40.720 Would I buy that house again? 00:21:40.880 --> 00:21:43.119 Absolutely, because I'm still over the top. 00:21:43.359 --> 00:21:45.359 Here's my recommendation, right? 00:21:46.000 --> 00:21:49.519 You win in you win in real estate in multiple stages. 00:21:49.839 --> 00:21:54.960 Stage one is during the merger acquisition, also known as when you buy the property. 00:21:55.200 --> 00:21:59.759 You've got to structure the deal where it's a win for everybody because if nobody likes. 00:22:00.160 --> 00:22:05.279 Likes to feel slighted or cheated out of a deal like, man, I was a sucker in that deal. 00:22:05.680 --> 00:22:06.720 You certainly don't want that. 00:22:06.799 --> 00:22:07.759 I certainly don't want that. 00:22:07.920 --> 00:22:12.240 And I've got to look at it from the perspective of the seller and the real estate agent. 00:22:12.559 --> 00:22:12.880 Okay. 00:22:13.440 --> 00:22:14.960 That's and the lender too. 00:22:15.519 --> 00:22:16.400 Keep that in mind.

00:22:16.559 --> 00:22:21.359 You've got to figure out how to structure creative deals where it's benefiting everybody. 00:22:22.240 --> 00:22:22.559 Okay. 00:22:22.799 --> 00:22:25.519 And at that one, I think we did okay. 00:22:26.000 --> 00:22:26.960 We did okay. 00:22:27.200 --> 00:22:33.440 Um, number two, this is a long tail of the deal, and this is the where the cash flow coming in, right? 00:22:33.519 --> 00:22:42.960 You've got to figure out the right location, the price where you still make a decent spread on top for the longevity of the deal. 00:22:43.440 --> 00:22:50.559 So the initial stage, the merger and acquisition, the later stage is the cash flow, AK net profit from the gross rent. 00:22:50.880 --> 00:22:59.039 And of course, the third stage, the more advanced stage, is going to be how you leverage AK cash out refi, if that's the route you want to take. 00:22:59.519 --> 00:23:04.000 Or ultimately you want to exit is when you sell the the asset. 00:23:04.400 --> 00:23:04.720 Right. 00:23:04.880 --> 00:23:09.920 And you're so you're doing all of these DSCR loans. 00:23:10.400 --> 00:23:11.599 At first I didn't. 00:23:11.920 --> 00:23:12.640 And you know that. 00:23:12.720 --> 00:23:24.319 At first I did, I mean, I leveraged, I again, I'm speaking from the perspective of someone who's got a uh in-depth technical background in finance, right? 00:23:24.480 --> 00:23:28.880 And I'm fully aware that not everyone's gonna have that knowledge. 00:23:29.440 --> 00:23:32.960 Um, so I guess that's my that's my advantage, right? 00:23:33.440 --> 00:23:40.400 I can take that transferable skill or skills not only to real estate, but in other industries. 00:23:41.039 --> 00:23:46.880 Um But yes, for the most part, let's say I for the most part, yes, to the SER loans. 00:23:47.119 --> 00:23:47.359 Correct. 00:23:47.680 --> 00:23:48.079 Right. 00:23:48.400 --> 00:23:50.079 It's all about leverage with you. 00:23:50.640 --> 00:23:51.519 It has to be. 00:23:53.119 --> 00:24:07.440 Not just with me, it's the most logical sense, and it's the most I guess it's the most frequently consumed or a proven track record for anyone in real estate, especially the most successful people. 00:24:07.599 --> 00:24:09.599 You're gonna need debt to scale. 00:24:09.759 --> 00:24:14.559 There's no other way to scale than leveraging good debt to buy assets. 00:24:14.880 --> 00:24:15.200 Right. 00:24:15.359 --> 00:24:16.319 What's your goal? 00:24:16.480 --> 00:24:17.759 How many houses? 00:24:18.079 --> 00:24:19.599 See, that's the problem with goals. 00:24:19.759 --> 00:24:22.480 If I put a number on it, uh that's that's the limitation. 00:24:22.559 --> 00:24:24.960 I don't want to have limits in in what I do. 00:24:25.200 --> 00:24:34.400 But in terms of outcome, I want to be able to live a comfortable life, which I'm very grateful that at even at this stage of my life, I've achieved that more than most. 00:24:34.640 --> 00:24:37.680 So I'm super grateful, I'm super thankful. 00:24:37.920 --> 00:24:42.480 I even go as far as I'm privileged, even though you and I know that's not the case. 00:24:42.720 --> 00:24:46.319 Um, but for compared to some of the people around. 00:24:46.640 --> 00:24:46.880 Sure. 00:24:47.039 --> 00:24:47.200 Right? 00:24:47.440 --> 00:24:47.599 Yeah. 00:24:47.759 --> 00:24:54.880 Um, as far as my long-term goal, man, just be able to take care of my family, loved ones, and just live a peaceful, happy life. 00:24:54.960 --> 00:24:57.440 And hey, if I make a lot of money, great. 00:24:57.599 --> 00:24:59.359 If I make more helping people, great. 00:24:59.440 --> 00:25:00.559 I'm I'm good. 00:25:00.799 --> 00:25:01.359 Right. 00:25:02.000 --> 00:25:05.839 So I'm interested to hear I I can't remember. 00:25:05.920 --> 00:25:13.759 I know we ran around Akron a bit, but I I don't remember if we ran around Cleveland coming from Miami to Cleveland. 00:25:14.079 --> 00:25:16.559 Um, what were your expectations? 00:25:16.720 --> 00:25:21.200 I mean, what do you think of of the city and like what and where we're buying houses? 00:25:21.440 --> 00:25:22.400 I like Cleveland. 00:25:22.480 --> 00:25:23.920 I I like the people of Cleveland. 00:25:24.000 --> 00:25:25.279 All right, shout out Cleveland. 00:25:25.519 --> 00:25:27.599 Um I like it. 00:25:27.759 --> 00:25:41.279 I don't think I've spent enough time from the personal aspect to really and thoroughly enjoy the city as much because for most of my experience been from a business standpoint. 00:25:41.599 --> 00:25:47.200 Um so the answer is I like Cleveland based on my experience. 00:25:47.759 --> 00:25:50.480 That could change for the better or for the worse. 00:25:50.799 --> 00:25:51.680 I just don't know yet. 00:25:51.759 --> 00:25:53.920 But so far everything seems to be amazing. 00:25:54.160 --> 00:25:56.480 So I mean you gotta come here where we can go. 00:25:56.559 --> 00:25:57.920 I mean, later today we'll go. 00:25:58.480 --> 00:26:00.319 Maybe we'll go look at a couple of houses. 00:26:00.480 --> 00:26:03.920 I mean, you you haven't seen too many of the houses you've bought, have you? 00:26:04.240 --> 00:26:10.160 I actually before here, I drove to my first property I bought in uh in the Ohio area. 00:26:10.480 --> 00:26:16.079 That's with uh an occupied tenant, my first Section 8 tenant. 00:26:16.319 --> 00:26:16.559 Right? 00:26:16.880 --> 00:26:17.920 Did you knock on the door? 00:26:18.079 --> 00:26:19.039 No, I was gonna do that. 00:26:19.119 --> 00:26:20.480 I want to come by and take a photo. 00:26:20.559 --> 00:26:21.359 I'm like, you know what? 00:26:21.440 --> 00:26:22.799 That's kind of creepy. 00:26:23.519 --> 00:26:25.279 I just you met her, I think. 00:26:25.440 --> 00:26:31.200 I met her, I shook her hand, and I told her, listen, I'm gonna do everything I can to take care of you as long as you take care of property. 00:26:31.359 --> 00:26:38.400 And she she she acknowledged that and she understands, you know, I'm not

one of those landlords where I don't fix things up. 00:26:38.480 --> 00:26:42.319 I've always fixed everything that needs to be fixed. 00:26:42.559 --> 00:26:43.039 You know what? 00:26:43.119 --> 00:26:45.519 And I've got a bill of sale to show, right? 00:26:45.599 --> 00:26:49.200 Like every month I'll fix everything as long as it's reasonable. 00:26:49.759 --> 00:26:53.440 So as long as they take care of my property, I'll take care of them. 00:26:53.759 --> 00:26:54.319 Right. 00:26:54.559 --> 00:26:59.200 Well, we'll go run around after this and see some of your houses. 00:26:59.519 --> 00:27:02.240 I mean, we're closing on one tomorrow, I think. 00:27:02.480 --> 00:27:03.599 We're signing one tomorrow. 00:27:03.920 --> 00:27:04.400 Signing tomorrow. 00:27:04.640 --> 00:27:07.039 We signed one, what, two last week? 00:27:07.359 --> 00:27:08.400 Yeah, two last week. 00:27:08.640 --> 00:27:09.359 Two last week. 00:27:09.680 --> 00:27:10.720 One tomorrow. 00:27:10.880 --> 00:27:12.240 What else have we got? 00:27:12.880 --> 00:27:15.119 Two more that's under appraisal. 00:27:15.519 --> 00:27:16.960 So that's that's five already. 00:27:17.200 --> 00:27:17.920 Yeah, we have four. 00:27:20.720 --> 00:27:24.319 You know, like me and Elaine are running around every day looking at houses. 00:27:24.559 --> 00:27:30.079 I'd love to take you to see what what we go through, look running through some of these houses. 00:27:30.400 --> 00:27:35.200 Uh actually, with you, it's not that bad because we're getting pretty much close to turnkey. 00:27:35.440 --> 00:27:36.160 Yeah, that's the goal. 00:27:36.240 --> 00:27:38.640 You want turn as close a turnkey as possible. 00:27:38.799 --> 00:27:40.400 Are you gonna be there all the time? 00:27:40.720 --> 00:27:41.039 No. 00:27:41.680 --> 00:27:44.720 Because to me, there's no such thing as perfection. 00:27:44.799 --> 00:27:46.400 I don't expect that out of people. 00:27:46.640 --> 00:27:47.440 I don't expect that. 00:27:47.920 --> 00:27:56.559 I mean, a little touch-ups here and there, but the goal was to get as close a turnkey as possible, past the Section 8 inspection, and then move the tenant in. 00:27:56.880 --> 00:27:57.039 Right. 00:27:57.119 --> 00:28:00.640 That's one thing that I have to explain to new investors that call me. 00:28:00.799 --> 00:28:00.960 Sure. 00:28:01.119 --> 00:28:05.599 When they call me, I there's two models that are going right now. 00:28:05.839 --> 00:28:17.279 Um one's the burrs, which we can talk about, but two is you know, the turnkey, and they come to me with that term, and I'm like, there's no such thing as a turnkey property. 00:28:17.680 --> 00:28:32.799 So, you know, you can get it as close to possible, uh close to that as possible, but talk about what kind of expenses there are to pass the Section 8 inspection once you close on the property. 00:28:33.279 --> 00:28:35.440 I mean, you're just gonna pass the punch list. 00:28:35.599 --> 00:28:35.920 Right. 00:28:36.240 --> 00:28:38.160 I mean, have you spent a lot of money on these? 00:28:38.480 --> 00:28:39.920 I mean, that's subjective, right? 00:28:40.079 --> 00:28:40.720 That's subjective. 00:28:41.039 --> 00:28:43.119 I mean, give an give an example. 00:28:43.599 --> 00:28:47.920 I I I baked in a contingency part of the workflow that I've been working with. 00:28:48.000 --> 00:28:58.400 My property management is hey, go ahead and just when I acquire a vacant property or any property, you work with the local housing authority long enough to know what they're looking for. 00:28:58.559 --> 00:29:02.559 Go ahead and just do the preliminary walkthrough, knock it out. 00:29:02.799 --> 00:29:07.039 So that way we increase our likelihood of passing inspection for the first time. 00:29:07.279 --> 00:29:07.519 Right. 00:29:07.759 --> 00:29:09.119 Two school of thoughts here. 00:29:09.359 --> 00:29:10.160 That was one. 00:29:10.400 --> 00:29:15.200 The second one is why don't we just wait until they tell us what's wrong, then fix it all at once. 00:29:15.359 --> 00:29:15.519 Yeah. 00:29:15.680 --> 00:29:23.680 I I don't like the second option because I'd much rather get things done as soon as possible to shorten the cycle time from getting approved and moving an attendant. 00:29:24.400 --> 00:29:24.960 Right. 00:29:25.359 --> 00:29:27.920 I I have a lot of guys that do the second. 00:29:28.079 --> 00:29:30.400 They'll just let it fail because it's gonna fail. 00:29:30.559 --> 00:29:35.039 The problem is these it it depends on the inspector, how they're feeling that day. 00:29:35.200 --> 00:29:36.079 Is it in the morning? 00:29:36.240 --> 00:29:37.920 Is it their last one of the day? 00:29:38.160 --> 00:29:46.720 You know, one person could one person passes it, the other one finds something minuscule to, you know. 00:29:47.119 --> 00:29:54.880 So, but you know, when we go through the house and video it for you, we're narrating saying, okay, we see this, this, and this. 00:29:54.960 --> 00:29:58.720 And we try to get it done on the ROC after the inspection. 00:29:59.039 --> 00:30:04.400 So with us, it limits your exposure, you know, after close. 00:30:04.640 --> 00:30:09.119 Um, but there's there's a lot of people out there that that that don't know. 00:30:09.519 --> 00:30:13.920 Well, part of that is the lack of experience and they don't know what they don't know, right? 00:30:14.079 --> 00:30:29.599 I typically tell new investors, especially the ones that are getting into section eight, listen, your first acquisition's gonna tell you everything that you need, I guess 9% of what you need to know about this industry, particularly Section 8, right? 00:30:29.680 --> 00:30:30.559 You're gonna learn a lot. 00:30:30.640 --> 00:30:32.559 It's gonna be the most challenging one. 00:30:32.799 --> 00:30:40.799 It's gonna be the most it's gonna be the riskiest one from from from an optics standpoint, right? 00:30:41.519 --> 00:30:46.319 Once you get your first one, that should

reassure you of the approach. 00:30:46.480 --> 00:30:49.839 Your second one's gonna be a validation. 00:30:50.000 --> 00:30:53.440 The third one is you're gonna make that decision, are you gonna go all in or not? 00:30:53.680 --> 00:30:57.440 And once you get to the tenth mark, get ready to raise capital. 00:30:57.759 --> 00:30:58.240 Right. 00:30:58.480 --> 00:31:13.759 Yeah, I mean, if guys come to me and they're like, I can buy one house a year, I I just that I mean, it's good, but you have to have a plan to scale because you have one, two, three houses. 00:31:14.000 --> 00:31:16.319 I feel like you're not gonna make money. 00:31:16.640 --> 00:31:18.160 I I would disagree on that actually. 00:31:18.400 --> 00:31:18.640 Really? 00:31:18.880 --> 00:31:24.960 Having one, two, three homes, investment homes, just to be very clear, still rather than none. 00:31:25.119 --> 00:31:35.200 I'd rather someone getting started now than someone who's gonna take a lifetime to do calculations and analysis and then not make a single not make a single move. 00:31:35.680 --> 00:31:37.119 Like it's okay to get started. 00:31:37.279 --> 00:31:41.599 Like, one home degree is still incredible in the grand scheme of things. 00:31:41.680 --> 00:31:48.400 And I want to also reset people's expectations of like, hey, listen, buying one property home is great. 00:31:49.519 --> 00:31:50.480 That's amazing. 00:31:50.640 --> 00:31:58.720 Don't feel like you're behind the eight ball because you are going at a pace that's naturally that's comfortable for you. 00:31:59.279 --> 00:32:01.839 And real estate is a long game. 00:32:02.079 --> 00:32:15.759 Don't expect things to be like it doesn't happen like that unless you have a significant amount of capital or backing, which again, for most people, that's not realistic from the jump. 00:32:16.799 --> 00:32:17.039 Right? 00:32:17.119 --> 00:32:18.480 So continue the course. 00:32:18.640 --> 00:32:29.200 What's what's more important is understanding the journey, master the foundational skills and understanding and develop that key relationship with key players? 00:32:29.279 --> 00:32:33.759 Like, do you have connections with at the housing authority or whomever you can call up? 00:32:33.839 --> 00:32:35.680 Hey, like, I need to expedite this. 00:32:36.079 --> 00:32:36.960 XYZ. 00:32:37.279 --> 00:32:40.000 Do you have handyman in case something were to happen? 00:32:40.160 --> 00:32:41.279 Do you have the right team in place? 00:32:41.440 --> 00:32:42.160 So on and so forth. 00:32:42.319 --> 00:32:47.279 You've got to do that foundational things first before you can scale. 00:32:48.160 --> 00:32:58.160 Do you think that there's is there a number, like a minimum number of you know, capital reserves that a person should have before they get into this? 00:32:58.559 --> 00:33:00.799 Oof, it varies person by person. 00:33:00.880 --> 00:33:02.960 It also varies deal by deal. 00:33:03.519 --> 00:33:08.960 So, and it also depends on how I mean also depend on the risk appetite. 00:33:09.039 --> 00:33:17.440 So, I again I I keep coming back to the whole notion of risk management because it's so important and it's often overlooked, not only real estate, but anything, dude. 00:33:17.519 --> 00:33:18.960 You've got to have contingency plans. 00:33:19.119 --> 00:33:22.240 I guess having a reserve is part of the contingency plan. 00:33:24.160 --> 00:33:25.119 I mean, you just don't know. 00:33:25.200 --> 00:33:25.920 Like I don't know. 00:33:26.160 --> 00:33:29.599 I have a house, I paid$61,000 for it. 00:33:29.680 --> 00:33:29.920 Okay. 00:33:30.079 --> 00:33:30.400 Okay. 00:33:30.799 --> 00:33:33.200 And I put like three grand into it. 00:33:33.519 --> 00:33:34.640 $64,000, okay. 00:33:34.880 --> 00:33:37.920 And I was getting, I'm getting$14.50 a month. 00:33:38.160 --> 00:33:38.559 Amazing. 00:33:38.720 --> 00:33:38.960 Okay. 00:33:39.119 --> 00:33:41.119 I paid cash because it was$60,000. 00:33:41.359 --> 00:33:41.920 Yeah. 00:33:42.480 --> 00:33:51.039 But this past year, I had a sewer line that broke under the driveway, had to dig it up. 00:33:51.279 --> 00:33:56.400 Cost, I know people here, so it cost, and it still cost me$7,500. 00:33:56.640 --> 00:33:56.880 Okay. 00:33:57.039 --> 00:33:58.960 You know, so but you're still up on the deal. 00:33:59.119 --> 00:34:10.000 You're still up on the deal, but I'm saying, like, you know, if you have$25,000 in the bank, does it make sense to get into this? 00:34:10.320 --> 00:34:10.639 Sure. 00:34:10.800 --> 00:34:11.440 Why not? 00:34:11.840 --> 00:34:13.679 What if something like that comes up? 00:34:14.000 --> 00:34:14.559 What happens? 00:34:14.719 --> 00:34:16.239 That's why you got a banking contingency. 00:34:16.320 --> 00:34:18.800 That's why I mean, I'm not saying there's not a chance. 00:34:18.880 --> 00:34:24.960 There's always a probability, but your goal is to minimize that properly, that likelihood of current, right? 00:34:25.199 --> 00:34:26.559 Well, how do you minimize maintenance? 00:34:26.960 --> 00:34:30.400 You establish that's why that's part of the underwriting. 00:34:30.639 --> 00:34:40.079 I'd rather you take your time, filter out, source deal, and acquired a close to turnkey property as possible. 00:34:40.159 --> 00:34:43.360 If if even if it means paying a bit more, like a premium, it's okay. 00:34:43.440 --> 00:34:45.039 That is your reassurance plan. 00:34:45.440 --> 00:34:55.039 All right, like it's okay to take it's okay to take your time, but establish like a cadence or a process first before you start buying, start buying properties. 00:34:55.199 --> 00:35:04.480 Because I don't think you know, if you just go blindly, that's not gonna be fruitful, or you're not gonna yield anything positive in the long run. 00:35:05.280 --> 00:35:16.880 And part of that is also trusting the local resources, like yourself, your your agent, your property management team, your your handyman, just just work with them and cast,

hey, what do you think of this? 00:35:17.360 --> 00:35:20.320 And it doesn't hurt to get a second opinion. 00:35:22.000 --> 00:35:27.840 And very important home inspection and what we do, sewer scope. 00:35:28.719 --> 00:35:30.559 See, I didn't do that. 00:35:31.280 --> 00:35:32.559 I didn't do it. 00:35:32.880 --> 00:35:36.000 So I mean I would have we start doing them now. 00:35:36.079 --> 00:35:38.880 We have to be like, oof, yeah, save us a lot of trouble. 00:35:39.119 --> 00:35:45.599 In in yeah, in this area for sure, if people aren't doing a sewer scope, what is it, 140, 150 bucks? 00:35:46.159 --> 00:35:46.480 It doesn't matter. 00:35:46.559 --> 00:35:56.639 It's a consequence of a$7,000 repair versus whatever that and that's a risk if you feel like, hey, sell us gonna fix this or I can walk away. 00:35:56.719 --> 00:36:01.599 The most you lose is just inspection fee and what a couple hundred bucks save you a lifetime headache. 00:36:01.760 --> 00:36:02.960 That's a risk I'm willing to take. 00:36:03.280 --> 00:36:08.239 Yeah, I mean, even on the investment properties, inspections are a hundred percent must. 00:36:08.480 --> 00:36:09.599 Yeah, it's a requirement. 00:36:09.679 --> 00:36:10.719 Like, never skip that. 00:36:10.800 --> 00:36:18.079 I mean, we've definitely walked away some deals, like really attractive deals at the last minute because of they didn't do what they're supposed to do. 00:36:18.159 --> 00:36:22.079 Like, hey, you doing place a tenant, foundation's not there, right? 00:36:23.440 --> 00:36:30.559 You have a massive leak in the basement or roofs cracking, whatever, whatever. 00:36:30.639 --> 00:36:32.639 Like we've definitely walked away from deals for sure. 00:36:32.960 --> 00:36:37.920 Well, we haven't we haven't picked any houses with what big water in the basement and root roof. 00:36:38.320 --> 00:36:39.360 We walked away from those. 00:36:39.519 --> 00:36:40.559 We walked away from some of those. 00:36:40.800 --> 00:36:41.119 Yeah, yeah. 00:36:41.199 --> 00:36:46.000 We d when we go, yeah, the numbers look good, and then we go in and see them because the pictures you can't see. 00:36:47.760 --> 00:36:52.719 You know, these the way the the walls, the Boeing walls, you can't see it in the pictures. 00:36:53.119 --> 00:36:53.760 Yeah, you know? 00:36:54.400 --> 00:36:57.280 I mean, you you get a feel of it as an investor. 00:36:57.519 --> 00:37:04.960 Buy your fifth home, you should be you should have enough experience to kind of scale. 00:37:05.360 --> 00:37:05.760 Right. 00:37:06.000 --> 00:37:15.119 And you know, the people you have here previewing the houses have to understand, you know, if there's a tree three feet away from the house, trim it. 00:37:15.360 --> 00:37:15.840 I don't want it. 00:37:16.000 --> 00:37:16.559 Trim it. 00:37:16.960 --> 00:37:18.559 The simple the simple thing is trim it. 00:37:18.639 --> 00:37:20.320 Like I had a house that had that and just got a cut. 00:37:20.719 --> 00:37:22.880

What I worry about is the roots pushing on the wall. 00:37:23.039 --> 00:37:24.239 Fair those big ones. 00:37:24.400 --> 00:37:24.880 Yeah. 00:37:25.119 --> 00:37:31.679 Um, you know, so with the knowledge you've built, obviously you have the background in the finance. 00:37:31.920 --> 00:37:38.559 Um, are you using your experiences and your knowledge to help others get into this? 00:37:40.000 --> 00:37:47.199 You know, um the answer to that is yes, with caveats, right? 00:37:47.440 --> 00:38:02.559 And the reason I say that is because I I I wouldn't be in in this business with my friend Tom, and I just, you know, I like to be my own guy, but my career is tied to his in a good way, as is because he's the one that showed me the rope. 00:38:02.719 --> 00:38:05.599 So they wouldn't be me without him, and I've made that very clear. 00:38:05.760 --> 00:38:11.119 It's there's no like nothing but respect and love for for him and what he's done for me. 00:38:11.280 --> 00:38:24.800 And yeah, I'm with the caveat that people have the understanding that, and I've said is repeatedly on social media, like, listen, there's no amount of money that's gonna come between my relationship with him, right? 00:38:24.960 --> 00:38:28.400 And I wouldn't teach section eight because I just out of respect. 00:38:28.800 --> 00:38:36.480 And I started doing that is because I ran it by him, like we have that acknowledgement and and an agreement, and that's why I'm doing that. 00:38:36.880 --> 00:38:42.559 So, yes, with a caveat that they have to understand there's a working relationship with me and Tom. 00:38:43.280 --> 00:38:44.159 So, yes. 00:38:44.480 --> 00:38:47.519 But knowing that I'm affiliated with him, right? 00:38:47.679 --> 00:38:52.800 So you have a mentor and now you're mentoring others. 00:38:53.119 --> 00:38:58.400 Yes, and I'm only doing this because he's aware that I'm doing this and there's an understanding between us. 00:38:58.559 --> 00:38:59.599 So make that very clear. 00:38:59.840 --> 00:39:00.000 Right. 00:39:00.239 --> 00:39:06.000 It's not like I go behind and you know, make under the table there's I don't I will never do that. 00:39:06.079 --> 00:39:15.440 And there are people that I'm you know, I've I've got a few students here and there, and I'm very open and very transparent, and also want them to understand where we're coming from. 00:39:15.599 --> 00:39:19.280 And they want the my my coaching style is different, it's very curated. 00:39:19.599 --> 00:39:27.039 It's not something I can scale, it's based on your needs, your criteria, and your you know, desire to learn on various topics. 00:39:27.280 --> 00:39:32.639 Um, whatever you want to learn within the hours that I allotted to you, I'll create a plan for you. 00:39:32.719 --> 00:39:36.320 I'll work with you, I'll produce deliberables for you. 00:39:36.400 --> 00:39:53.280 Like, I'm taking a very corporate approach to this because a lot of time people see coaches guru that sometimes as hey man, this is like not legit, and I do my best to be legit each and every time in every business that I that I do. 00:39:53.519 --> 00:40:06.559 So I take what what I've learned from corporate America, the structure, the approach, the professionalism in this uh mentorship slash coaching business, specifically with uh section eight. 00:40:07.599 --> 00:40:10.239 And how do how do these people find you? 00:40:11.039 --> 00:40:13.599 Uh social media is a wonderful thing. 00:40:15.039 --> 00:40:17.360 If you want a shameless plug, you can find me. 00:40:17.440 --> 00:40:24.960 I'm only I mean I'm reachable section eight Sam on Instagram or you can search me Sam Doan on LinkedIn two places. 00:40:26.559 --> 00:40:30.559 They find you just hit you up and start the conversation there. 00:40:30.960 --> 00:40:31.440 Sure. 00:40:32.480 --> 00:40:33.199 Got it. 00:40:36.000 --> 00:40:37.039 What about you? 00:40:37.599 --> 00:40:40.719 What I guess I'll get a few questions for you. 00:40:40.960 --> 00:40:41.840 Oh yeah. 00:40:43.840 --> 00:40:45.840 Have you ever fired a client? 00:40:46.480 --> 00:40:47.280 Yes, I have. 00:40:47.599 --> 00:40:48.239 Dude, how? 00:40:48.400 --> 00:40:49.360 And why? 00:40:50.880 --> 00:40:53.119 Oh there's been a few. 00:40:53.280 --> 00:40:53.360 Yeah. 00:40:53.599 --> 00:40:54.800 I'll tell you one thing. 00:40:55.119 --> 00:41:05.199 One of the best times I you know in this career was when I got to the point where I could say no to business. 00:41:05.679 --> 00:41:08.400 Which Because 90% of your business is coming from me? 00:41:08.800 --> 00:41:11.039 Oh, this was this was before Sam. 00:41:11.360 --> 00:41:11.599 Got it. 00:41:11.920 --> 00:41:20.079 But I so you know, it's like when you're on commission only, people, you know, how can you turn it away? 00:41:20.400 --> 00:41:26.480 But you know, you get to a certain point, you're so busy, and you know, you uh you learn what's a waste of time. 00:41:26.960 --> 00:41:36.719 So I had one investor who, you know, I mean, I don't know a better way of saying it, just since they know everything, you know. 00:41:37.039 --> 00:41:45.679 And with with Zillow and the internet and everything, people have access to numbers and you know, these are the comps. 00:41:46.159 --> 00:41:53.280 Um yeah, you see numbers on there, but you don't know the city, I mean, street by street, zip by zip. 00:41:54.000 --> 00:41:57.119 And um he got in trouble. 00:41:57.440 --> 00:41:57.920 For what? 00:41:58.079 --> 00:41:59.119 Are you at liberty to the other? 00:41:59.519 --> 00:42:00.000 Financially. 00:42:00.239 --> 00:42:00.400 Okay. 00:42:00.639 --> 00:42:05.599 You know, like had a property manager that was ended up stealing from everybody. 00:42:05.840 --> 00:42:06.159 Got it. 00:42:06.320 --> 00:42:07.599 He's not in business anymore. 00:42:07.760 --> 00:42:15.119 So, you know, it was unfortunate, and I wanted to help because you know, I build relationships with these guys, I build

partnerships. 00:42:15.199 --> 00:42:18.239 I'm not looking for one commission, one deal. 00:42:18.480 --> 00:42:25.280 You know, if I have a guy, an investor that comes, he buys, then he wants to sell, that client's gone. 00:42:25.760 --> 00:42:28.400 You know, that the there's no more client. 00:42:28.639 --> 00:42:31.280 Um, a lot of realtors just want listings. 00:42:31.360 --> 00:42:32.800 It's it's low-hanging fruit. 00:42:33.119 --> 00:42:49.039 Me, in on the investment side, I I I mean I like it, but I I don't like it because now with the wholesalers and the seller financing and the sub two questions, and you know, it's just you get the call after call after call. 00:42:49.840 --> 00:43:07.039 Um so anyway, so this this particular uh client um wouldn't listen to me on what to list the houses for, thought they were worth more, um, had wouldn't do any of the fixes that were needed to get the price he wanted. 00:43:07.199 --> 00:43:07.360 Okay. 00:43:07.840 --> 00:43:10.480 And I was, I'm just, I don't have time. 00:43:10.639 --> 00:43:13.119 You know, I'm sorry, you gotta find someone else. 00:43:13.760 --> 00:43:29.440 Um and it's funny because this particular investor, you know, when I first started, obviously I wasn't this busy, so I didn't have a minimum commission, you know, and I'm selling, you know, 60 to$110,000 houses. 00:43:29.599 --> 00:43:32.000 I mean, you can't live on 3% of that. 00:43:32.400 --> 00:43:35.760 So quickly, as I got busier, I put in a minimum commission. 00:43:35.840 --> 00:43:40.480 I I still remember having this conversation with this particular guy. 00:43:40.719 --> 00:43:44.800 Um, when I told him that part, he said, That's not what I'm looking for. 00:43:45.280 --> 00:43:45.760 That's okay. 00:43:46.000 --> 00:43:46.239 Right. 00:43:46.400 --> 00:43:49.679 And then I said, This was, I think this was the first time. 00:43:49.840 --> 00:43:55.039 I said, Well, I'm here if you have any questions, but you know, it's not gonna work for me. 00:43:55.280 --> 00:43:57.519 And then he was like, wait, wait, wait, wait. 00:43:57.760 --> 00:43:59.760 You know, he said, Oh, this guy doesn't want to work. 00:44:00.239 --> 00:44:01.440 With me, what's going on? 00:44:01.760 --> 00:44:06.559 He ended up, you know, agreeing to go along with it and working with it. 00:44:06.800 --> 00:44:12.719 So we did a few deals and then all the stuff came out with this property manager. 00:44:12.960 --> 00:44:14.559 Um, that's very important. 00:44:14.719 --> 00:44:26.719 I mean, anyone coming from out of state has to interview and vet and talk to multiple property managers because I could I could spend an hour on a podcast telling you about horror stories. 00:44:27.039 --> 00:44:27.840 We got time. 00:44:33.440 --> 00:44:37.679 I don't know if I I don't want to let's do another one and we'll talk about that. 00:44:38.079 --> 00:44:46.159 Because that I it dude, if I was filming, like I I'm 52 years old, so I didn't grow up with the Instagram and all the things. 00:44:48.480 --> 00:44:49.280 Thank you. 00:44:49.599 --> 00:45:00.239 Um so but if I was getting followed around with a camera from 2023 to 2025, we probably wouldn't have met because I would have been viral. 00:45:00.400 --> 00:45:03.199 The just the it could have been a TV show. 00:45:03.360 --> 00:45:04.000 Yeah. 00:45:04.400 --> 00:45:06.400 That that's how ridiculous stuff is. 00:45:06.559 --> 00:45:07.039 I understand. 00:45:07.679 --> 00:45:10.719 So yeah, so there's been a couple of clients that I've fired. 00:45:11.119 --> 00:45:14.880 You know, remember the first conversation that I had with you when I called you? 00:45:15.119 --> 00:45:17.360 Actually, no, I I had a referral. 00:45:17.519 --> 00:45:21.360 I had another agent that I worked with in another state. 00:45:22.159 --> 00:45:24.480 We were actually very successful in in that city. 00:45:24.559 --> 00:45:26.960 And I'm like, look, I'm trying to expand here, right? 00:45:27.840 --> 00:45:28.960 You thought we were kidding. 00:45:29.039 --> 00:45:30.719 You thought we were just fucking around. 00:45:31.039 --> 00:45:32.960 So why you see that? 00:45:33.280 --> 00:45:35.199 So I was a little standoff-ish. 00:45:35.760 --> 00:45:44.159 I think after this time, I don't know what a the word is, if it's jaded or just burnt out or what. 00:45:44.480 --> 00:45:52.320 Just from taking all these calls, oh, I'm gonna buy a hundred houses, or you know, just you turn out to be wholesalers. 00:45:52.480 --> 00:46:03.280 It's kind of like you just get tired, and you just you've heard so much bullshit that you just I I don't know. 00:46:03.360 --> 00:46:06.960 It's I I have, I guess it's that. 00:46:07.119 --> 00:46:10.239 It's just I hear so much bullshit, I don't believe, you know. 00:46:10.719 --> 00:46:13.119 What was the turning point for you with me? 00:46:13.360 --> 00:46:15.440 I don't even remember what happened. 00:46:15.599 --> 00:46:29.920 I think then I was dealing with Leo, your agent, and we uh you actually, you know, you had the pre-approval, you were sending me houses, and we wrote an offer. 00:46:30.079 --> 00:46:31.199 You know, very simple. 00:46:31.440 --> 00:46:33.599 I mean, it's very simple, and it didn't take long. 00:46:33.840 --> 00:46:43.199 Like, you know, I don't want to spend time, uh, I know it's my job, but you know, going to look at 20 houses and hearing no for little deals. 00:46:43.840 --> 00:46:49.519 You know, like even me and you now we have it where you know you're trying to negotiate over$2,000. 00:46:50.000 --> 00:46:52.079 And I say Sam, what the fuck? 00:46:52.159 --> 00:46:56.719 I mean, you know, just like it's$2,000 over 30 a 30-year no. 00:46:56.800 --> 00:46:57.679 What's what's the big deal? 00:46:57.840 --> 00:46:58.800 Sometimes it's a power play. 00:46:58.880 --> 00:47:01.519 It's just like don't I'm not gonna be understand- I'm not a pushover. 00:47:01.599 --> 00:47:04.159 Like don't don't don't give me an

unreasonable amount. 00:47:04.480 --> 00:47:06.239 But we're already getting a deal, you know. 00:47:06.480 --> 00:47:10.239 It's always I I know that in in this, everyone has to win. 00:47:10.480 --> 00:47:10.800 Of course. 00:47:10.960 --> 00:47:12.559 They always want to feel like the winner. 00:47:12.800 --> 00:47:13.119 Of course. 00:47:13.280 --> 00:47:21.119 You know, so we get them down 10 grand, they counter 50 halfway, and then you come back and say this is it 2,000 less. 00:47:21.440 --> 00:47:23.119 This is the final, you take it or not. 00:47:23.440 --> 00:47:25.840 But I like that you listen after a while. 00:47:26.000 --> 00:47:31.119 You try to get what you you try to get every penny, but at the end, you don't let a deal go over that. 00:47:31.360 --> 00:47:33.760 I've had deals blow up over 500 bucks. 00:47:34.079 --> 00:47:34.639 Five bucks. 00:47:34.719 --> 00:47:35.760 Just pay that with your commission. 00:47:36.079 --> 00:47:36.880 I I did. 00:47:36.960 --> 00:47:38.000 The second one, I did. 00:47:38.159 --> 00:47:41.199 The first one, I was so pissed off that I didn't. 00:47:41.360 --> 00:47:45.920 The second one, I'm like, I want to get rid of this guy, and I just gave it out of my commission. 00:47:46.480 --> 00:47:50.159 You know, I mean, our come we're not selling half million dollar houses. 00:47:50.239 --> 00:47:51.440 The commission isn't that much. 00:47:51.920 --> 00:47:54.320 You know, that's why I have to do so much volume. 00:47:54.880 --> 00:48:02.239 But but yeah, I mean, I still I've started to now because my business has changed a lot. 00:48:02.559 --> 00:48:06.880 22, 23, 24, I was buy, buy, buy, buy, buy. 00:48:07.440 --> 00:48:11.519 And then the property management thing came out, and just kind of mess everybody up. 00:48:11.760 --> 00:48:14.159 So then everyone was sell, sell, sell. 00:48:14.239 --> 00:48:21.280 And I'm at the tail end of selling, you know, 200 homes that I sold, but I'm at the tail end. 00:48:21.519 --> 00:48:29.519 So I was riding it, and now I have to scale up the buying, the the buyers again, you know. 00:48:30.000 --> 00:48:34.239 So, like I said, when someone goes to list and sell, they're gone. 00:48:34.400 --> 00:48:35.039 That's it, though. 00:48:35.199 --> 00:48:42.400 You know, and those guys were fortunate because in 23, the houses we're paying 110 for, we were paying 75. 00:48:43.039 --> 00:48:44.239 They made their money, that's fine. 00:48:44.320 --> 00:48:47.760 You know, you know, there are a lot of different ways to make money in real estate. 00:48:47.840 --> 00:48:53.920 You've got to be comfortable with which avenue makes literally and figuratively make sense for you. 00:48:54.159 --> 00:48:54.480 Right. 00:48:55.679 --> 00:48:55.840 Right. 00:48:56.000 --> 00:48:56.320 Yeah. 00:48:56.480 --> 00:48:57.920 Um but you know what? 00:48:58.000 --> 00:49:00.719 I had another um agent. 00:49:01.440 --> 00:49:02.800 I was like, dude, you win or not? 00:49:03.599 --> 00:49:08.719 And I think if I remember correctly, we had a couple deals from the beginning that fell through from the financing side. 00:49:08.800 --> 00:49:09.360 What did I do? 00:49:11.119 --> 00:49:11.679 What'd you do? 00:49:11.920 --> 00:49:22.239 Remember the one house that was like, dang, financing fell through, and then the soliciting agent crying and nagging you because she haven't been selling home like a single home for months. 00:49:22.719 --> 00:49:23.280 Remember that one? 00:49:23.440 --> 00:49:24.159 Oh, yeah, yeah, yeah. 00:49:24.400 --> 00:49:25.199 What was the solution? 00:49:25.280 --> 00:49:26.239 How did I solve that problem? 00:49:26.400 --> 00:49:28.079 I dude, I can't even remember. 00:49:28.400 --> 00:49:29.519 There's been so many. 00:49:29.760 --> 00:49:30.559 You paid cash. 00:49:30.800 --> 00:49:31.280 Yep. 00:49:32.480 --> 00:49:32.960 Yeah. 00:49:33.199 --> 00:49:36.480 Because then you just re-fi, and then I introduced you to another lender. 00:49:36.880 --> 00:49:38.239 I never refi, actually. 00:49:38.480 --> 00:49:44.480 I just I told him, listen, when I shook your hand or had a written commitment. 00:49:45.360 --> 00:49:45.679 That's right. 00:49:45.920 --> 00:49:46.880 Yeah, I remember now. 00:49:47.119 --> 00:49:47.760 We'll get it fixed. 00:49:47.840 --> 00:49:48.559 It's not a big deal. 00:49:48.639 --> 00:49:52.639 Like I break the I break the rules that I tell people to. 00:49:52.880 --> 00:49:54.880 Like, I pay cash for a lot of stuff. 00:49:55.119 --> 00:49:56.880 I just don't like having debt. 00:49:57.519 --> 00:50:04.480 That's a good thing, but sometimes you're one of those situations where like I'll make the decision and then I mean we could always refi it. 00:50:04.880 --> 00:50:07.360 Yeah, I don't I don't if you need the money, you know. 00:50:07.920 --> 00:50:12.320 But in the meantime, you know, I'm getting$14.50 a month on that house. 00:50:12.559 --> 00:50:16.400 It's$14.50 minus taxes and insurance. 00:50:16.480 --> 00:50:16.880 That's it. 00:50:17.119 --> 00:50:18.000 That house? 00:50:18.800 --> 00:50:20.320 The house I have on the house. 00:50:22.400 --> 00:50:23.119 Yeah, you still up. 00:50:23.199 --> 00:50:26.639 You're still up by a wide margin, like significant margin. 00:50:26.960 --> 00:50:28.559 Like you can add another 20K. 00:50:28.960 --> 00:50:30.159 Yeah, and still be fine. 00:50:30.400 --> 00:50:34.880 Oh, that house now, the appreciation, that house is uh 100-110K. 00:50:35.119 --> 00:50:39.440 So you're up about 40k of just appreciating itself. 00:50:39.679 --> 00:50:41.119 Plus, it's in a changing neighborhood. 00:50:41.280 --> 00:50:41.519 That's good. 00:50:41.760 --> 00:50:51.199 That's the other thing with the out-of-state guys need to understand, which is that they have someone working for them, boots on the ground, that knows what's going on in the city. 00:50:51.440 --> 00:50:51.840 That's right. 00:50:52.159 --> 00:51:06.639 Because there's a certain area that

I have a four-unit building and that house that everyone in the country would steer away from and is told to stay away from, but I know what's going on with the city there. 00:51:07.039 --> 00:51:07.440 Of course. 00:51:07.599 --> 00:51:07.920 You know. 00:51:08.320 --> 00:51:20.960 I mean, the most I mean, I always emphasize the fact that the most important key piece in this whole thing, no dispersed you, it's gonna be the property management piece. 00:51:21.199 --> 00:51:21.519 Oh, yeah. 00:51:21.599 --> 00:51:21.760 No, no, no. 00:51:22.719 --> 00:51:25.199 That's that's OPEC, that's his operational standpoint, right? 00:51:25.679 --> 00:51:34.320 If I had good property management from 23, I'd be making I'd I'd be selling 200 houses a year instead of a hundred. 00:51:36.000 --> 00:51:37.760 I think we bought a decent amount this year. 00:51:38.159 --> 00:51:39.440 No, we're gonna what do you mean? 00:51:39.519 --> 00:51:40.960 We bought a significant amount of yeah. 00:51:41.119 --> 00:51:45.280 Yeah, well, we're going, we're we're scaling, we're going, but we're being smart about it. 00:51:45.519 --> 00:51:47.679 Yeah, I mean, we bought a stupid amount. 00:51:48.239 --> 00:51:49.599 But I but I agree 100%. 00:51:50.079 --> 00:51:54.880 Like the property management, if you don't have that, it's I can't sell houses. 00:51:55.039 --> 00:51:55.679 Yeah. 00:51:56.079 --> 00:52:00.239 So should we let the audience in a little bit on how we work? 00:52:01.199 --> 00:52:01.599 Sure. 00:52:01.679 --> 00:52:02.719 I think we're running out of time. 00:52:02.960 --> 00:52:04.159 We got 10 minutes. 00:52:04.400 --> 00:52:06.320 So let's role play. 00:52:06.960 --> 00:52:08.639 Give me a deal on how we would negotiate. 00:52:08.719 --> 00:52:10.320 So they'll say this in real time. 00:52:10.960 --> 00:52:16.079 So I we I bring you that the house, the address, go send you the Google Drive with the videos. 00:52:16.320 --> 00:52:17.039 Boom, boom, boom. 00:52:17.199 --> 00:52:17.599 Boom. 00:52:17.760 --> 00:52:25.360 You look at it, say, okay, here's my here's where I want you to bid, here's my max. 00:52:25.599 --> 00:52:26.000 Boom. 00:52:26.239 --> 00:52:27.119 That's it. 00:52:27.599 --> 00:52:32.639 And then I don't have to waste time calling you, you know, they can't they counter it at this. 00:52:32.719 --> 00:52:33.440 I know where to go. 00:52:33.599 --> 00:52:34.000 Yeah, yeah, yeah. 00:52:34.159 --> 00:52:36.320 So we get you the best deal that we can. 00:52:36.639 --> 00:52:46.800 You know I think one of the things that out of state investors need to do is the ability to prioritize in making a decision. 00:52:46.960 --> 00:52:48.639 Like you've got to make a decision. 00:52:49.679 --> 00:52:50.800 No, yeah, for sure. 00:52:50.960 --> 00:53:02.000 Especially, you know, even though it's slowed down now, the good ones, I still see some multiple offers, you know, and it's there there's people all over the world looking in Cleveland. 00:53:02.159 --> 00:53:02.559 Of course. 00:53:02.719 --> 00:53:06.320 So when a good deal comes, you can't because because why? 00:53:06.480 --> 00:53:12.159 Because I don't know, I mean social media and of course, you know, I have I had a limited influence in this area. 00:53:12.239 --> 00:53:17.199 I wouldn't say a lot, but of course, and that's why sorry, finish your point. 00:53:17.840 --> 00:53:18.880 No, I mean that's it. 00:53:18.960 --> 00:53:22.159 I mean, you know, the cost of entry here is still low. 00:53:22.480 --> 00:53:23.440 I wouldn't say low. 00:53:23.519 --> 00:53:27.039 I'd say it's affordable within the accepted range. 00:53:27.360 --> 00:53:27.679 Right. 00:53:27.760 --> 00:53:29.519 I mean low compared to other cities. 00:53:29.920 --> 00:53:37.119 Yeah, it's all relative, but it makes sense now, and that's part of part of being a successful business owner. 00:53:37.440 --> 00:53:38.960 I mean, their levels of the game, right? 00:53:39.039 --> 00:53:42.159 I'm sure there are a lot of people whom are way ahead of my of me. 00:53:42.480 --> 00:53:50.960 But speaking from my experience, you've got to have the ability to have a foresight. 00:53:51.199 --> 00:53:57.039 Like you've got to anticipate where what's next, where the ball's gone, right? 00:53:57.280 --> 00:54:04.719 So I'm continuously expanding, yes, in this area, but I'm also we we expanded in another city in Ohio, right? 00:54:04.960 --> 00:54:05.360 Right. 00:54:06.000 --> 00:54:08.639 And again, this is the important part for out of state investors. 00:54:09.119 --> 00:54:13.280 I could have easily gone to that area and say, peace. 00:54:14.719 --> 00:54:16.480 How did that deal came about? 00:54:16.880 --> 00:54:17.920 You made some money. 00:54:18.159 --> 00:54:18.639 Yeah, yeah. 00:54:18.719 --> 00:54:19.519 I made some money. 00:54:19.679 --> 00:54:22.000 I I mean, I think this is important. 00:54:22.159 --> 00:54:29.280 Once you establish a relationship with, you know, for example, a realtor in a city, you trust them, you're you're partnering with them. 00:54:29.760 --> 00:54:34.239 You came to me and said, I want to go to this city, who do you know? 00:54:34.559 --> 00:54:38.719 And we have a network within the brokerage. 00:54:38.960 --> 00:54:49.440 So, and then I actually vetted realtors before I introduced you because what we're doing and how you operate is a little different. 00:54:49.760 --> 00:54:50.719 Oh, I know very differently. 00:54:50.800 --> 00:54:55.679 I think so outside of the box because I'm not trying to be a statistical like dot. 00:54:56.000 --> 00:54:57.119 I want to be outside the curve. 00:54:57.360 --> 00:54:57.519 Right. 00:54:57.599 --> 00:55:05.920 So I mean I call them, I make sure that you know, try to make sure their personality would mesh with yours. 00:55:06.079 --> 00:55:10.000 And now I'm making money on every deal that everybody do in perpetuity. 00:55:10.480 --> 00:55:10.800 That's it. 00:55:11.039 --> 00:55:11.679 Even the realtors.

00:55:11.760 --> 00:55:15.119 And you gotta I gotta the realtor has to negotiate that. 00:55:15.679 --> 00:55:16.960 But we're doing good. 00:55:17.119 --> 00:55:24.719 So I mean, normally the there is some worry that it's gonna be better in another city and you're gonna leave here. 00:55:24.960 --> 00:55:34.239 But you know, my feeling is once someone plants roots and gets started and has 20 homes in a city, it doesn't make sense for them to pack up and go somewhere else. 00:55:34.559 --> 00:55:36.320 We definitely have more than 20 homes. 00:55:36.639 --> 00:55:37.840 Just to make that clear. 00:55:38.159 --> 00:55:40.400 Because people think more than that. 00:55:40.559 --> 00:55:41.679 Way more than that. 00:55:42.000 --> 00:55:46.960 I yeah, I don't I mean, I have I've there's so many go through our books. 00:55:47.039 --> 00:55:49.920 I don't even I should have checked before we came. 00:55:50.400 --> 00:55:55.599 People think that like I may be exaggerating, but I get you not. 00:55:56.159 --> 00:55:57.039 We we go through. 00:55:57.440 --> 00:56:00.960 I see your video, I see your your Instagram every time you sign. 00:56:01.039 --> 00:56:01.519 It's the same thing. 00:56:01.679 --> 00:56:02.480 And that's in real time. 00:56:02.639 --> 00:56:03.840 That's in real time, right? 00:56:04.000 --> 00:56:06.880 Like, yeah, yeah, we're we're at seven or eight a month. 00:56:07.039 --> 00:56:09.599 Next year I like to push it to 15 a month. 00:56:10.400 --> 00:56:12.239 I won't need anyone else. 00:56:12.639 --> 00:56:20.960 Yeah, but you know, part of that is and also a friendly reminder, yes, I do real estate, but you wanna you know what kind of business I'm actually in? 00:56:21.440 --> 00:56:23.440 I'm in the relationship business. 00:56:23.679 --> 00:56:37.599 Yeah, and that's something that a lot of people need to take a step back and understand that yes, we all want to make a dollar, but sometimes there's things that are way more important than making a buck. 00:56:38.159 --> 00:56:39.119 So last question. 00:56:39.920 --> 00:56:41.360 Is it what you know or who you know? 00:56:41.679 --> 00:56:42.480 It's both. 00:56:42.960 --> 00:56:45.199 Someone will tell you one is just short-sighted. 00:56:45.840 --> 00:56:46.719 It's both. 00:56:47.519 --> 00:56:51.599 If someone knows who you are for the wrong reasons, you can get eliminated. 00:56:52.320 --> 00:56:58.400 Or if you're the best in the world, XYZ, but no one knows you, you're in a world of your own, so you need both. 00:56:59.840 --> 00:57:00.400 Right? 00:57:02.079 --> 00:57:03.840 So, what's next? 00:57:05.119 --> 00:57:14.320 We're gonna go see some of your houses in the city, show you around some places, and go eat a nice steak dinner. 00:57:14.639 --> 00:57:15.119 That's right. 00:57:15.360 --> 00:57:18.000 With the property manager and your other realtor. 00:57:18.480 --> 00:57:19.199 Yes, yes. 00:57:19.360 --> 00:57:21.519 So, how do people find you, Ryan? 00:57:22.159 --> 00:57:23.280 How do you find me? 00:57:23.519 --> 00:57:26.719 I am on oof, I don't even know what our Instagram is. 00:57:26.960 --> 00:57:28.239 First of all, what is the name of your company? 00:57:29.119 --> 00:57:34.639 So, my team, my partner Elaine Gonzalez, we're called the North Shore Group. 00:57:34.800 --> 00:57:38.079 We're with Keller Williams, Greater Cleveland Northeast. 00:57:38.480 --> 00:57:41.039 Um, we have the Instagram. 00:57:41.679 --> 00:57:44.320 Uh I forget what my Facebook is. 00:57:44.400 --> 00:57:46.239 See, I'm showing my age. 00:57:46.719 --> 00:57:53.280 But yeah, I mean, you can find us Ryan Sackman, Keller Williams, Elaine Gonzalez, Keller Williams. 00:57:53.760 --> 00:57:56.559 Um, you want to do investment properties? 00:57:56.800 --> 00:58:10.239 Um, whether you're buying and holding, whether you're doing burrs, rehabs, we have the contractors, the property managers, the um the lenders, hard money if you need it, whatever you need, um, just hit us up. 00:58:10.480 --> 00:58:10.639 Yep. 00:58:10.800 --> 00:58:11.599 So one question. 00:58:11.679 --> 00:58:12.880 You had a last question for me. 00:58:12.960 --> 00:58:14.239 I have one question for you. 00:58:14.400 --> 00:58:24.400 Uh what do you think is your X factor as to why I work exclusively with you and Elaine over other real estate agents? 00:58:26.079 --> 00:58:28.960 Uh that's a better question for you. 00:58:29.199 --> 00:58:31.280 I don't, I I just think we're genuine. 00:58:31.440 --> 00:58:31.920 We're honest. 00:58:32.079 --> 00:58:46.400 I say it, I say all the time to people, I don't know how we've become successful on this side of real estate with honesty and integrity, because you know, there's a there there are some, but the majority are not. 00:58:46.639 --> 00:59:03.280 And I just think that, you know, we we can I relate with my clients on a on a level, a personal level, and um look at the relationships as a partnership, not just a like a realtor client, you know. 00:59:03.599 --> 00:59:10.639 So I mean, you just gotta be yourself and and get the job done, you know? 00:59:10.960 --> 00:59:20.400 I mean, every house we've brought, your new property manager, or one of, you know, your property manager, um he loves it. 00:59:20.880 --> 00:59:21.760 Loves it. 00:59:22.000 --> 00:59:26.800 And I've heard stories about other ones that that aren't so good. 00:59:27.360 --> 00:59:30.800 So um, yeah, I mean, just do a good job. 00:59:31.119 --> 00:59:32.880 Because I hard to deal with. 00:59:34.880 --> 00:59:35.360 Be real. 00:59:35.599 --> 00:59:36.480 Be real and candid. 00:59:36.719 --> 00:59:37.440 You only the sugar. 00:59:37.920 --> 00:59:40.239 I mean, yeah, you're you're not the easiest. 00:59:40.559 --> 00:59:41.119 Really? 00:59:41.760 --> 00:59:43.519 I don't I don't know if it's difficult. 00:59:43.679 --> 00:59:46.400 I mean, we should ask uh Cindy at Infinity. 00:59:46.880 --> 00:59:47.440 Why? 00:59:47.840 --> 00:59:56.159 Because

you're the only client I know or have that is like hitting up title and the lender every day, what's going on? 00:59:56.320 --> 01:00:00.079 Like normally the people sit back and let us do it. 01:00:00.320 --> 01:00:12.719 And you're like, I don't know how you do it with your regular your career, you know, your coaching, all the side businesses you do, but just constantly. 01:00:13.199 --> 01:00:15.039 I we talk ten times a day. 01:00:15.360 --> 01:00:15.599 Easily. 01:00:15.920 --> 01:00:21.760 And then texting, and then you bugging me for keys to every property when you live in Florida. 01:00:22.079 --> 01:00:23.039 You get you have my keys? 01:00:23.199 --> 01:00:24.480 Yeah, I have your keys. 01:00:24.800 --> 01:00:26.079 This guy with the keys. 01:00:26.400 --> 01:00:27.679 I gotta have a copy of my keys. 01:00:27.760 --> 01:00:28.559 I'm a mentor. 01:00:28.960 --> 01:00:30.480 He's gonna f there's gonna be a problem. 01:00:30.559 --> 01:00:32.719 He's gonna fly from Miami to go go check his. 01:00:33.199 --> 01:00:37.199 I legit flew here, do this, hang out with you guys, and collect seven keys. 01:00:37.440 --> 01:00:39.440 It's all I'm here for, mainly the keys. 01:00:39.679 --> 01:00:43.199 But let's that the one we closed last week, I don't have keys yet. 01:00:43.440 --> 01:00:44.159 Can I have a key? 01:00:44.239 --> 01:00:45.199 Okay, we'll we'll get it. 01:00:45.280 --> 01:00:51.199 Uh but yeah, man, and I'm also one of the few investors that actively pay people ahead of time. 01:00:51.360 --> 01:00:54.320 Oh, you do pay people ahead of time. 01:00:54.639 --> 01:00:54.960 Yeah. 01:00:56.480 --> 01:01:00.960 I have a few, but yeah, right when the bills do. 01:01:01.280 --> 01:01:01.519 Done. 01:01:01.599 --> 01:01:02.000 No question. 01:01:02.400 --> 01:01:03.599 Ernest money's in right away. 01:01:03.679 --> 01:01:06.079 You know how many people we have to chase for earnest? 01:01:06.880 --> 01:01:07.840 Everything's paid. 01:01:08.079 --> 01:01:08.400 Yeah. 01:01:08.639 --> 01:01:10.559 I don't want anybody a single penny. 01:01:10.800 --> 01:01:12.800 And that's the thing, I don't like owing people money. 01:01:13.119 --> 01:01:19.199 I'm very strict on the schedule because I do so many things, it has to be in check and order and balance. 01:01:19.280 --> 01:01:20.960 It's the OCD in me. 01:01:21.519 --> 01:01:27.599 Now I have OBCD as well, but I take the B out and the O C D in me is like What's the B? 01:01:27.840 --> 01:01:28.639 OBCD. 01:01:28.880 --> 01:01:29.119 Yeah. 01:01:30.000 --> 01:01:30.480 What is that? 01:01:31.039 --> 01:01:34.239 OBCD is a play on word, but oh obesity. 01:01:34.880 --> 01:01:35.679 Take that out. 01:01:35.840 --> 01:01:36.639 Take that out. 01:01:36.880 --> 01:01:38.000 Take the B out. 01:01:38.559 --> 01:01:39.760 Um yeah. 01:01:40.079 --> 01:01:42.960 But I think I think yeah, it's a good good pod. 01:01:43.199 --> 01:01:43.440 Yeah. 01:01:43.840 --> 01:01:44.320 Sweet. 01:01:44.559 --> 01:01:49.920 Any rapping final thoughts for the audience that are listening? 01:01:50.320 --> 01:01:51.440 Hi, Tracy. 01:01:53.119 --> 01:01:59.760 Um man, I mean, let's just keep going, you know, doing what we're doing. 01:02:00.079 --> 01:02:01.440 Now's a great time. 01:02:01.679 --> 01:02:02.320 Why? 01:02:02.639 --> 01:02:06.480 Because, you know, some people are scared of the interest rates. 01:02:06.800 --> 01:02:08.880 How do we how do we mitigate that? 01:02:09.519 --> 01:02:11.039 I mean, you can always refi. 01:02:11.440 --> 01:02:13.360 You you get concession to buy down. 01:02:13.840 --> 01:02:14.000 Right. 01:02:14.079 --> 01:02:15.199 We get the concession. 01:02:15.440 --> 01:02:18.559 So now there's less buyers. 01:02:18.800 --> 01:02:22.480 So we have been getting concessions, we have been getting credits. 01:02:22.880 --> 01:02:26.960 Um, and the prices are coming down because it has to. 01:02:27.119 --> 01:02:27.519 Yeah. 01:02:27.840 --> 01:02:33.519 So, I mean, don't want to tell all the competition, but now's a good time. 01:02:34.079 --> 01:02:39.280 So, yeah, let's let's ramp it up to 1015 a month and keep going. 01:02:39.519 --> 01:02:39.760 Yeah. 01:02:40.000 --> 01:02:47.519 And hopefully next podcast we're gonna talk about the capital, how to raise capital, capital structure, and then all that jazz. 01:02:48.960 --> 01:02:49.280 All righty. 01:02:49.599 --> 01:02:51.039 All right, thanks for coming. 01:02:51.599 --> 01:02:52.079 Got it.