how we doing it's overcast not sunny today not sunny today um hey you know Harry's gonna be joining us couple fun things happened um Anson has another 10K deal in Puerto Rico for that matter a $10,000 deal in Puerto Rico Puerto Rico is where that guy Robert craigger likes to buy houses and um Anson was Anson heard him say that that that kid just takes action he hears something he just does it he doesn't think there's there's no there's no second guessing for him but um the 12-year-old wholesaler the world's youngest wholesaler um you know we had a a real estate investor on the live stream about a week ago and um yeah he B houses in Puerto Rico and Florida Anson somehow found him a house in Puerto Rico and he's buying it off of him for $110,000 um we also have real estate investor Harry gold joining us today in person as he lives in San Diego and I've traveled to San Diego so I'm going to be bringing him on today and he'll probably be here in about 10 minutes or so but in the meantime we'll answer some questions do some follow-ups mainly I want to follow up with Rob Rob Bert I want to follow up with I got two people to follow up with I have so I have my sellers um I'm I'm doing a couple deals one of my follow-ups is on behalf of another student remember the 18-year-old with the triplex 18-year-old one month into Discord and um yeah he he got he got a Triplex now Robert had somebody walk that I'm gonna I'm going to call him and just see how that went really quick let's just give him a call see how the walkth through went yeah that's an okay deal hey man I have not been following my text at all because I flew to San Diego yesterday um what's up with the walkthrough did that end up happening Sunday 10 a. Sunday 10 am. it looks like we're good to go Sunday 10: a.m. okay perfect sorry I didn't check that I wanted to give you a call but um sounds good perfect yeah we we'll um we'll keep you posted awesome awesome I'm excited I I I hope that it looks as good in person as it looks on me too me too you never know but but fingers crossed and then I was just talking about the Puerto Rico deal with Anson you guys are is that is that actually happening well so we had a buyer who flew in to go look at it blew and the freaking the realtor she met she met another potential buyer out there yesterday and kind of blew them out of the water so Anson and I were talking and we're trying to get the realtor to just open open the door shut her mouth and get into the car and leave my people alone but she did not she blew up a second deal today so oh that's fun that's fun it's freaking like so I still think we can put it together it's it's definitely uh G to be tricky with that lady because this this house is in vus the it's a small island off the island and not easy to grip to and so there's I don't know what we're going to do in the future but we really need to convince sort of just open the door and get out of the way um I can't understand Realtors they're they're a different breed and they make no sense sometimes I just posted a video about that you know we have a realtor we have a realtor in um Cincinnati for a we got a so student he's like a month in and he uses my pitch on a 400k um duplex that only brings in like 1,700 a month so it's impossible to cash flow on it with a loan he uses my seller finance pitch the seller really likes the offer but she won't fully bring the seller the offer because she doesn't believe who we are so I sent her I sent her my portfolio of 19 doors um all acquired in the past 15 months I sent her proof of funds and I sent her references and she said that's still not enough keep in mind she has a 200 days on Market completely destroyed box that nobody wants and these are her qualifications so yeah what kind of universe do these people live in that's I mean she should be bending over back to put you in front of this and praying that you can pull a miracle out of the house it's not even new it's not it's just this is just how this is just how it goes that's just how it goes for sure for sure so yeah I I I really want to do this deal with Anson um one I think it's a good deal but two it's just a great story so um but anyways I've enjoyed uh talking with him and and we're in the trenches together so hopefully we'll get it done absolutely absolutely a little bit tricky because CU I'm up in the morning at 6:00 a.m. and he's he's asleep until I don't know what the like he's 12 hours difference right like so yeah he our communication's a little bit off he'll probably be up in about an hour or so yeah yeah he loves waking up at 2 am I tell him to get to sleep um but hey we're gonna we got a we got a 65 door Section 8 guy coming on today who just bought a deal off of one of our students but um we're about to interview him in person actually which is really exciting but we should bring you on the the live stream again soon that was really fun yeah let's do it um after next week I'm I'm leaving tomorrow for the Sam one Social Club Cruise absolutely I'm gonna shoot some content from the ship too so maybe we could do it I I'll text you and we'll coordinate it okay perfect do it I'll go find a spot to broadcast from in the in the on the ship somewhere excellent excellent all right well we'll talk soon have a good Cruise good deal than keep keep keep them coming we're going to do a deal oh yes we are yes we are talk soon bye byebye all right let's read these comments a little bit um I got a TW this guy says I got a 20 unit complex 225,000 under list but does it cash flow um we need Rich to sign okay Alex come talk to me um where Emanuel Emanuel and welcome Emanuel and his name's f it starts with an F or does it just a moment just a moment what's your name is it Fernand no I always think you're Fernando but you're not you are Philbert Phil filberto filbert filbert filbert filbert filbert and Emanuel you've got some good stuff oh they're not on what about Emanual a man no they're not on okay my my two crazy wholesalers are not on and then I have one followup to do my followup is going to be with uh low Equity Tim low Equity Florida seller so situation on this one is I've offered him 3K down on 500 guys what do you think the chances are got a seller to say yes to 3K down on 500,000 right now wouldn't that be crazy Edward says bring me up okay we'll talk we don't have a massive itinerary today you know the stuff that we're going to talk about with Harry um Jim Hammond need contract from the offer you gave me why don't you fill out the contract gym Anon fills out his contracts he's 12 um or you could use Auto contracts but it is after our cut off so you'll probably get that on Monday um but if you guys need a contract you know I have a video anyone in Portland Oregon hey that's where I live um I have a video on how to fill out the contract the pr deal is 5200k 52k under list that's great I'll get a manual on soon yeah you should you should I'd love to I'm in Gresham wow you guys we do have some Pacific northb people you know anybody here need help with a contract we do have Auto contracts and then we have a video on how to fill out the contracts and if you just click on the contracts tab there you have it hey let me call a seller really quickly guys let's just see if we can get this got on the horn hey Tim it's Richard how you doing man my up work yeah I just wanted to uh just wanted to give you a call see where your head's at in a better place actually um I just had some some questions on there you got a second to go over it of course of course how can I help you it's it's I'm interested in even doing what you're doing but as far as you know being on the receiving end how does it work with like you know uh like the homeowners insurance and all that stuff just as a sailwood it works just as a sailwood you're you're no longer associated with the property you're no longer thinking about the property owning the property having to do maintenance pay taxes Insurance any of that and if anything and as I as I mentioned we have that very very sharp stick pointed at us if we were to ever break our work on that I mean so yeah I mean have to you said you could put a offer together and send through with the wife sure sure um I I I will I will say it's it's kind of like uh you know you know throw up my hands and say I think we can get this done I think we can get this done it's it's it's not much of a slam dunk for either of us I'd say I mean it's it's something it's worth a shot you know all I can do is present it to the uh the lovely lady at home uh you know a few bites we've been we've been sitting on this damn thing for six months it's costing me too much money I'm over it I know I know well hey let me um what street was that on again it's in ALA alamont it's uh3 and a n t i l l aenue there you go it's off market now and that's my other question I have to wait I'm still waiting for the packet from the mortgage company for the uh the modification uhhuh they said it would take 15 days to get the packet for all that no worries because closing typically takes 30 days okay all right well that's you know send the offer through I'll I'll show it to the old lady and um she doesn't really have much of a choice unfortunately um and we'll go from there absolutely absolutely talk to I don't think you have my email oh I you I'm I'm new school I was gonna shoot you a text but I'm happy to email it to it's just my email gets so flooded no they're both T fine man perfect perfect we'll talk soon I'll send that over right away I appreciate you my friend all right byebye another social media lead all right wait wait hold up what's this say um I got to see this is your alternate account Eric Ralston well let's just see my Tik toks um I don't know how to see I don't think it's like Instagram where you can see alternate accounts but let's just look up the name I'm being accused of having a like a an alter ego Eric R is it like a big Creator or something oh they have 39 followers and he's black um well you know I look like slightly different than this guy given my complexion just like a a little bit um this person sounds very similar to well the thing about Eric is he's he's a he's a tad darker than I am just a little bit like like 500 Shades but um no my I do not have an alter e named Eric Ron um no I don't have any other accounts guys I I have I have one account this is this is the only me however this says I was on a political live stream that does sound like something I would do but unfortunately no that was not me but hey look at this anybody want a house in Florida for 3K sounds like the do You Hear the seller at the end of that the seller at the end of that like she has no choice um okay so guys check this out check this out I just got this 500k house it might be worth more than 500k I just got this thing for um $3,000 down and and the reason I have it for only 3K down is because well they're very low Equity that's the first thing and the second thing is their interest rate's no good it's like a six and a half seven and a half% rate but look where we are I mean that's the neighborhood you want to live in guys and then as far as the house goes I mean two-car garage there might be a pool or something let's see if we have any photos I'd love to see the interior so if I If Ever I don't have photos of a property I just go on realtor and realtor to typically has photos of it realtor.com that is okay all right I'm looking at these photos guys I just got this house for $3,000 I kid you not and I have another one under contract right now for 6,000 down on three 300K this is 3K down on 500,000 and look at the house I'm just scrolling see I don't know what the interior is like so this is a first reaction for me as well okay cool oh yeah fully renovated I don't know if that's laminant or actual Granite it kind of looks like yeah I think it's granite or quartz or something nice let me turn up I guess the brightness is up yeah they should have and then oh yeah no no no it's it's clean as hell um backsplash a little right there but um yeah man that that that thing for 3K no qualification that's a 10K check all day uhuh and then I also have this house in San Antonio you want to see to my San Antonio house I've got this one in San Antonio worth about $300,000 I got this one for 6K down similar condition and we're we're having buyers walk the property it's looking like I'm not happy with the assignment I it's it's looking like a $15,000 assignment it should be more than that but whatever and that one's 6K down no qualification but the thing is if I don't get the assignment fee I want I'm just going to buy this I mean guys I this is a 300K house with closing cost for about 10K o and then there's this one and and okay by the way this one has a 3.75% interest rate on it this one has like a high ass interest rate but look at the bathroom look at the bathroom I I won't buy this one even if I can't find a buyer I'd cancel the contract on this one rather than buying it because the interest rate is really high and I just don't I don't like those oh it's got a pool too that means I really wouldn't buy it so this is just perfect for um this is perfect for somebody to live in so if anybody lives around here where is this by the way where is Altamonte Springs Florida I have no idea let's zoom out oh it's Orlando oh I got a guy who'd buy this that Robert would buy that the guy I was just on the phone with would buy that it's I did I had no idea it was Orlando that's okay that's great excellent all right what other follow-ups do I have I think I have one more um I have this one and I have this one I haven't followed up with these guys in a while so so those are two two deals I'm working on I have a third deal I'm working on right now and it's this multif family comple complex in DeBerry Florida and I really really like it oh it just gave me a great idea of what to tell you about today I really like this one that I'm working on right here Tik Tok I'll even show you check this out this is amazing so this house brings in 7 thou actually it brings in 6,100 this thing brings in $6,100 per month and it's listed for 1.2 million and I really really like these deals guys because what's your mortgage going to be on 1.2 million it's a really great property it's in a good area it's a desirable property and there's even a storefront this right here is a storefront so they've got a store here and then a sixun multif family here totaling seven units it brings in 6,100 a month but here's the problem they want 1.2 million but what happens if you give them 1.2 million well it's our we we talk about it all the time but there's 1.2 million in my calculator um your down payment has to be $140,000 oh two I'm sorry $240,000 $240,000 and that's going to give you a 7% interest rate amortised over 30 years payments of more than 6,100 I mean your payment on 1.2 million with taxes and insurance has got to be close to 8K let's check taxes and insurance hold on yeah dude taxes and insurance are 2100 and your mortgage payment is 6,400 meaning you're paying 8 $8500 yeah so you pay $8500 and the thing brings in 6,100 and the tenants leases can't be broken imagine that imagine calling somebody with with with that in mind hi um I have um a million dollars liquid and I want to buy your house more than anything can I buy your house oh yes absolutely please please please what do you need for me um well my mortgage costs 85 00 and you bring in $6,100 um I'm a millionaire I want to buy this more than anything um I will bend over backwards to buy this but how would I how do you think I should what what like um what steps should I go through would you say to get qualified for this um rather than just taking a visit to the lender's office maybe I wear like a black mask and I bring like a pew pew and then um I kind of hold them up and say hey I know it's considered predatory lending to give me this loan but do it or else because you the thing is you know if I'm paying $8,500 and I'm bringing in$ 6,100 and your leases can't be broken because they're 12month leases I can't get qualified so I was just thinking do you know a place to buy a pew pew without a serial number you don't okay well well given that we can't do that maybe we just uh maybe we just do seller financing my client doesn't want do seller financing right um how else would you suggest we get this done maybe you know about the you know how to file off serial numbers what what did they say I don't care if you don't want to do seller financing what do they say to that so I'm going to call this guy and be like yeah we just finished a flip just got a cash injection of like a couple hundred, I want to buy this more than anything how do I buy it what what do we do and it's not embarrassing because the the thing about normal wholesaling guys is that you have to do something that's embarrassing and the thing that's embarrassing is like hi I know you want 500,000 um how about 350 it's embarrassing it's like oh oh that's not good um the guy the guy was pretty inebriated on the political live stream he was saying some not great things well I haven't had alcohol in 8 years um if there's anything I can do to show you that I don't have an alter ego just let me know all right okay I'm gonna I'm gonna give this guy a call and I'm gonna say hey man I'm so excited to buy this I really want to buy this can't wait he's a good guy too he's a good guy what do you say I'll answer that in a second I'm goingon to say why don't we just do this the normal way I screw all this seller financing thing man let's just do it the normal way because I need to jog his memory on the impossibility of his deal that they put all of this other stuff like um with front and rear part your has been forwarded to voicemail the person you're trying to reach is not available at the I because I'm cool with this guy I'm gonna send him a voice message on text hey Kareem um you know I wanted to see if we could just do this the normal way as I said you know I I really need to purchase something for tax purposes so you know maybe we can run numbers again on this you know I I I got pre-approved with a lender 6.8% just for General real estate purchases so you know maybe there's a way to get this done um I I just wanted to hop on the phone with you even if that way is offering a little below your asking price it seems like it's quite a hurdle for your seller to do seller financing on this thing um so yeah I just wanted to hop on the phone with you and see if we could run numbers again anyways um talk soon man bye-bye the way that you communicate with these realter is so important um because that I I may be saying it differently but I'm saying two things here guys I'm saying two things I could go to him and say Hey you know I just wanted to talk about seller financing in and I I really wanted to talk about seller financing and see if we could get seller financing done on this and the benefits of seller financing are this and this they don't care hey man I just wanted to talk about buying this the normal way that's me talking about seller financing you know what's going to happen when I hop on the phone with him exactly what I just demonstrated the payment is 8,500 you're bringing in 6,100 and because Realtors aren't particularly educated me calling him and saying oh I got pre-approved at a 6.8% interest rate bro that's a $40 difference that's a $40 difference in 40 um here's a good question hey Richard if the real estate market crashes is that good for us um I want to show you something man allow me to show you something I'm going to show you two things stick around for just a sec this is I so I believe the real estate market crashed already the real estate hasn't gone up in value unless you live in a really hot area for the past like three years so like um my normal answer to if the real estate market crashes is that a good thing for us would be um I don't care about the yes yes everything every every strategy is a good thing for us um the real estate Market goes absolutely insane and and houses just fly off the market great love it I'm going to make cash offers all day long the cash offers don't have to be that far below list um real estate doesn't move and we see no appreciation for ages great love it I'm going to offer to to make payments on properties using the pitch that I just gave you here um so I've been in two markets um which is very very lucky to have only been in real estate for three and a half four years to be in two markets is very rare and what I mean by two markets is I've been in a market where things fly like like some of my first wholesale deals were 20K below list on Market deals which we obviously know are not deals anymore I was making 15K checks offering 20 25k below list in a in a really really hot unprecedented low interest rate Market that stopped working and I had to Pivot so I'm very fortunate in that because I have a strategy that crushes it for that market which would be great to go back to because it's a pretty brain dead simple strategy make cash offers and then I have a strategy that works for the market we're in now but as far as whether or not the real estate market has crashed in the real estate market the more issues happen the more things I can solve but I but here's why I would say the real estate market crashed after 2020 early 2022 I want to just show you some random addresses and some big cities so I'll show you something in Orlando Florida and I'll show you something in San Antonio Texas check this out I think your shirt's inside out no I'm just really edgy and different um okay so check this out wait wait wait I should ask you a question before I show you this real estate goes up in value over time right yes or no chat yes or no does Real Estate go up in value over time yes yes that yes of course that's like the whole thing about real estate right it go it it goes up in value over time right sometimes sometimes okay you buy a house in 2022 a little over 3 years ago you buy a house in 2022 for $254,000 what is it worth now you buy a house for $254,000 what is it worth now what could it be worth well let's take a peak let take a peek if I well I don't know why I said let's take a peak and then switch to the camera on just point yeah 266 266 but here's a good question what was $254,000 equivalent in today's money if I spend 254 in 2022 it doesn't have the same purchasing power as it does today right so what did I actually buy this for in today's money because I know I didn't pay 254 for it or 255 I should say it's worth 266 but not really like if it were worth 266 he'd sell it it's not actually worth that it's worth like 250 but here's the thing man here's the thing inflation let's check it out what is what is $255,000 in um in 2022 in today's money present value I need a I need a present value calculator adjusted for inflation 255,000 is now just about 289 so he so here's the thing you paid the equivalent in purchasing power for this property of just about 289 290,000 you can't even sell it for 250 now so even if you sold it for more than you owe on your mortgage sure maybe you could pay off your mortgage but you took a $40 $50,000 loss when we Factor an inflation right because the value of your money goes down over time beyond that if you were to list this house you'd list it for that 250 and you think oh I pay off my mark but no because somebody's going to offer you 245 and then your realtor is going to take another 101,000 out of that and you're going to have to go negative so real estate does appreciate but when you ask me Richard is the market good if it crashes like is that good for us if it crashes dude that's three years of negative appreciation bring Ryan up on stage Ryan I can bring you up if you need help with something but yeah so that's one example and that's San Antonio Texas um let's look at one other example maybe two other examples what about this one what' this guy buy his house for let me check I don't know if he I don't know when he bought this we'll see if this one's the same yeah yeah okay here's another one here's another one um this thing's been listed this he bought it for 305 in 2023 which is like 325 330 right now and then he's trying to sell it for 3.49 right now but it's just not going well that's so another city in the United States negative appreciation let's look at another one let's look at one more so here's here's the one I just had conversation with what' he buy it for looks like he paid I don't know let's prop stream it yeah man he's at it for a year and a half he paid 460 and now it's worth less after a year and a half and keep in mind when you factor in the inflation that you know that's like 470 475 it's worth less so all around the United States with the exception of your Miami your Los Angeles your New York City and even some New York City things even even some condos in New York City experiencing this I just looked at condos in New York I saw a lot of low Equity ones um yeah so as far as like real estate market crashing this and that I I don't really care I have strategies for both markets the people who don't are are like everybody else like if you're not pace morie like you're you're kind of cooked you know you really need to understand creative to make it in today's market that's why people be like wholesaling real estate doesn't work I'm like yeah because you are a man of like like one strategy you have you have zero tools on your belt um so that guy didn't uh that guy didn't respond we'll call the next one the next one is this guy um Olive Street it's called The Olive Street realtor but yeah let's call and then we'll start answering questions how do you learn this you join hold my hand wholesale the link is in my bio it costs less than your Vape I'm sure your call has been forwarded to voice hey man I just wanted to see if you got um got my text and and perhaps showed it to your client here I sent a number of properties um like West 8th Street that sold for 285,000 which is a a newer duplex than you guys um West 11th Street sold for 291 West Third Street 240 and then we have a quadplex two more units than yours that sold for 350 um and I'm offering 322 so I kind of view that as like offering about 40K above what the other duplexes are selling for um even though this one's a bit of an older duplex so yeah um given that and the fact that if you got a mortgage on this and with today's rates it wouldn't cash flow I kind of see this as one of our only solutions and I I was just wondering if perhaps your client you and myself can hop on a three-way call that way we're not playing a game of telephone with this stuff because I I think that really any real estate investor if they hear the constrictions of today's markets is going to be like okay yeah I've I've really got two options here either hold on to it or figure out something creative but hey I don't think holding on to it about idea it's just hard because you know you've been taking calls on this thing for 65 days and if he holds on to it you don't get your commit so you know I got the same goal as you man I want to get your commission paid I'm just seeing if we can Fast Track that process do you work with agents all day every day that's like literally all I do is Mr Harry gold here not quite I yeah he is here oh he is here hey let's let let's get Harry here har our our fun guest is here guys um by the way can you guys hear me it's saying that my audio is switching with was that audible y y'all can hear me okay cool I'll let him in he's struggling oh yeah yeah yeah we U before that one of the funniest things right now to me we we're live this guys hello everyone this is Harry but um one of the funniest things to me is Realtors who will list properties so like this thing's listed for 1.2 million and your mortgage on it is 8,500 it brings in 6,100 oh yeah I was hearing you talk about this so like you can't Finance it it cracks me up because like I'm just imagining a phone call where I'm like yeah I've got a million liquid I want to buy this more than anything like this is my dream since I've been a child I want this property and I've got more than enough liquid to buy this property how do I get qualified by the way oh right is you're not gonna get what kind of income do you need dude well no not that not that it brings in 6,100 your payment's 85 what do I do and and then well maybe you should buy it in cash if I trade 1.2 in cash for $4,500 after expenses oh my God that's well so they could think if you want to owner occupy you'll still have to get qualified it's a seven unit Section 8 living so if I want to owner occupy so yeah that's the that's the other option if I want to owner occupy I'm a person who can afford a $1.2 million house who has decided to live in Section 8 living conditions if I want to buy this as an investor I need to come to the loan officer with a gun and say hey you need to qualify me or else and then if I want to buy this in cash I need to be the world's worst investor trading 1.2 no sorry 1.22 million with closing costs um for a return of $4500 per month which is devastating how long has it been listed it's up 65 days but my favorite thing today like to do is to call these guys and say I want to buy this more than anything by the way how right by the way how seriously you can't you literally would not get qualified I know it's really funny to me but the lender would be crazy to qualify no I know they're not going to get their money back you're going to default yeah do want going to just like hang out and yeah we we'll talk about your deal SP sure yeah yeah yeah Happ all right guys this this is Harry y'all know Harry right what's up what's going on we know Harry right oh you know what Ryan actually um brought a deal to my community and it's really cool in fact it's such a cool deal that I told Ryan if no one else buys it I'm I'm gonna make a serious offer on it oh really yeah well you just bought a deal off of Muhammad is muhamed here I did I'm not sure if muhamad guys I woke up to a fun text today you want me to it's on my Instagram story but I woke up to a text from Harry that says I'm paying you $2,000 right now I'm like what and um yeah looks like looks like my business model is working I had no idea this was happening but um we made I made $2,000 today off of somebody who who closed a deal and hold my hand wholesale um I guess his name is Muhammad do you know if that was Muhammad's first deal I'm not sure if it was his first deal he goes by aam on Instagram I tagged him in my post aam it's really funny because I was like you asked me if I could get breakfast I'm sorry I'm in the middle of paying you 2,000 bucks he's in the middle of sending me thousands of dollars yeah so guys that's a very very small assignment fee but it's also extremely low hanging fruit what did he do get it 20 under uh well it was listed for 60 actually and he got it for 30 and so my price is 35 there is a there is a squatter in the property so I'll I'll have to deal with that but I mean The Price is Right so how are you going to do with this Squadron so Cleveland Ohio in general is a landlord friendly state so takes like 60 days if through a legitimate process I have a I have a squatter um we have a squatter in Arizona and Arizona Arizona's also landlord friendly friendly maybe you can help me get them out I'll cut you in on the deal it's it's um 20K down on 500k it would sell for like 15K great and it's in Phoenix but I I don't know what to do with the squad I offered her $10,000 to leave and she said no I want the sheriff to drag me out and I was like okay all right because the thing is the house is about to be forf Ed upon so she's got to leave anyways right she's she's like I I was like I can either give you 10K to leave or I could give or I could give you nothing and the sheriff can take you out and I don't get the deal at that point but she just she'll just miss out on 10K I know very sad so we might have to deal with that but guys here's the thing Harry's got Harry's claim to fame is that he scaled to 65 doors in a year and um he buys a lot of deals out of our community recently bought a deal off of Muhammad we're going to review that deal here now here's look at Garrett's impatient face he's here to say Richard I need you to sign a contract for me it's very urgent the agent's saying we need it right now yeah this is actually the second of the day I called I called Richard before the live stream like yelling and demanding it for him to sign a contract because the agent was so impatient but this is our second one of the day this one this one is for a student Nam Kent he might be working right now Kent brought this to me kind of fumbled over his number a bit um but I was able to get it done it's a trap house well excuse me that's a bad term it's a four bedroom in Jacksonville it's in pretty good condition and it's a four-bedroom one bath the Piti is 1,500 and the Section 8 rent is 2340 wow wow four 4% something interest rate for only 7K down well I want to see the house that's cool I want to see the house guys so Kent got a deal how exciting um yeah oh it is a drop house but look on the inside no look at the inside though no look at the inside I like Jacksonville a market I think it's really yeah I do oh my God I hate it I'd never buy there theide it's like not awful yeah it's okay it's not the worst thing in the world I guess what's your interest rate four something for in change we'll shoot our shot man I it it looks like there could be cash flows what's your it's it's cheap yeah and his initial loan must have been you know no more than 130 or something and 4% on 130 is like 600 so I wait so is it occupied or the theoretical no it's not occupied this dude was living in it he moved to California actually and so it's unoccupied the total with taxes and insurance I taxes Insurance are high there total is500 but the section 8's almost 2400 how that's impossible is it 80 month loan no so like the majority of the loan well I think like the majority of the loan is like says it's like 3.9% the other is like six something a smaller chunk of it so like Blended it's like four something rate the PTI wait but but it couldn't Piti can't be that high unless there's a weird loan on it okay 328 that is slightly weird but but I don't understand 3.92% that's just what the agent said the agent said like the Piti was between she couldn't give me the exact number but she said it was like between 14 and 1500 and then for me for me I was like well that works because the Section 8 is 2340 well the only thing I've heard on a consistent basis is that insurance is crazy in Florida because of hurricanes I would love to exactly so that's why I think the Piti is so high so you think you're paying $500 a month for insurance likely yeah that's insane because you're these like these rates right here would would have you paying like $800 or something and then you have another 700 in taxes and insurance taxes have to be 7 to 100 bucks a month on this meaning you're probably paying $900 for your your p and t your pit and that means your insurance has got to be like $500 a month which is another reason why I'm not going to buy here guys because as I have told you it's not that it's not the fear of your house being washed away by a hurricane it's that when everybody else's house is washed away by a hurricane your insurance is going to go way through the roof until you're in a market like Pensacola where your insurance premium is literally greater than your interest payment so is that in in Pensacola Florida on a really cheap house you pay more an insurance than your interest print payment on a loan which is ridiculous and then of course do to not actually pay out when you have a claim extremely fun and I haven't dealt with that yet but um can you uh Richard just tell everyone in the chat to please fill out the trust acquisition form and we can get more of these yeah I will close more deals for students I did two deals for students today I actually did a third deal I'm just waiting for the mortgage statement before I send you another contract so I did technically three today oh wow wow well that's very good um is the other one in my email not yet not yet I'm waiting on a mortgage statement before I send it to you okay cool um yeah that one that one is like another one in Lafayette Piti 1500 and uh is 2500 or 24 okay um that one that I just signed is going to be a bit of a challenge um really high monthly payment for what it is um and then also medium high interest rate kind of rough condition um how what is your down payment on that the other down payment on that on the other property or this one or the other property this this kind of really rough looking one what is only 7K 5% entry yeah I have 6K down on my Texas on my San Antonio deal with three points yeah okay we'll try but um I just don't think yeah we'll see we'll see what happens I mean the the Section 8 was high the Piti was $800 less a month so I was like it's worth a shot I have a guy buying a terrible deal in Birmingham off of us like I wouldn't touch it with a 10-ft pole like he's really shooting himself in the foot and and and it sold are youie this you to buy orale never buy no Richard doesn't like for purchases um if if so I'm Garrett's trying to sell this deal right here for me it's got a new roof on it but um I got it for 6K down and and I was stressed about it and then I thought to myself oh I'll just buy it if it doesn't because I have three other houses in San Antonio so I have someone walking it for 27k entry right now you mentioned new roof do you even like I feel like San Antonio Texas doesn't have severe weather so I mean I just a long time anyway I have no idea I just love the look of a brand new roof and it's got 3.75% interest rate for six kids I know I know like if you get a new roof in Cleveland you practically strike Golds because those things got to be replaced like every 15 years due to just the ice ice storm yeah oh okay okay what okay you're good uh Gary har Gary Harry what did you just buy what deal did you just buy where is it yeah I bought 1388 East 171st okay guys we're going to look at the deal Harry bot um and I also want to talk about why it's loow hanging fruit because at the end of the day it's just not that competitive of a market and you can find deals right off Zillow you don't have to get that creative yeah that's the one in East Cleveland no well it's on the east side of Cleveland but oh right right I forgot it says East Cleveland so so you bought this thing for 35 in closing costs 35 including the assignment fee and then closing cost for like another 3K nice nice so got wow I'm surprised it's not actually the worst area in the world I mean just abandoned cars I know I know but like for Cleveland it gets so much worse they they took pictures on a sunny day I know and that's like half of it but like dude is that a new build damn near that's a clean I know 19 look how clean that is it's extremely clean um this is I'm surprised this is better than most areas that you buy um actually go go to the map let's look at the actual area that we're in like Mount Auburn Avenue was rough yeah yeah that's an okay area if you go a few miles south you're getting pretty sketchy it looks good it looks good I like the area and then um what are you going to do with this like what's what so is it is it messed up like what does it look like I'm burn well no the biggest obstacle there is really just that it's there's it's tenant occupied and it's a squatter they least expired they haven't paid since January so we got to get them out um I did get my contractor in there and it's mild mild Renovations um like mostly Cosmetics just like updating the floors painting the walls uh might need a I don't know just like not crazy stuff nice and um the guy who sold it is I wish we could talk to him is there a Muhammad here if there's a Muhammad here we'd love to bring you up and talk to you about how you got this because you said it was listed for 60 he got it for 30 he got it for 30 yeah guys so that's that's a that's a clear win I'm try to call him on Instagram see yeah I mean that's a clear win right there guys getting something for $60,000 for $30,000 he spent the it's you're trading your time for money which is not a great thing to say but you hey um can you join the hold my hand wholesale uh live stream great okay yeah and request to be on stage all right bye he's coming on right now so so so he's gonna come on right now and then we're gonna go ahead and look sweet cool easy um oh I for while he's coming on I forgot to for this thing um this guy right here he has a $500,000 house in Orlando Florida and he's about to get it to me for 3K down which is crazy but his interest rate is terrible so guys I'm going to while we're waiting for him to come on stage I'm just going to text my offer over to this individual I don't exactly remember where his house is in Florida so I'll go on the map and I'll I'll try to line it up I can see okay there's Orlando there's the highway it's kind of on the outskirts of Orlando so if I like to remove the boundary and just sort of draw draw apply and then there's alamon Springs and where is he where's this guy this Al Springs and then here here he is okay then once I locate it because I want to send him some comps too I never I never send him an offer without sending comps so the house should be right there on yep Antilla Avenue so I'll remove the boundary and I'll just send him some of his neighbor's houses for sale because they're goingon to you know their first question is going to be well are we getting the right price for this is this are we actually getting the right PR well I'll show you so his address we found it and then looks like he has a 43 with or a 42 and a half with 1600t um his neighbor's house is listed for um okay 410 and it's got um 1,400 square feet it's not terrible and then maybe it's two and a half nope no what about this one right here 465 and that's got more square footage than his and it hasn't sold and it's been there for 115 days yeah okay so that's good that that helps prove my point so guys I'll just take the address an Tilla Avenue I'll look at his mortgage balance his mortgage balance is sitting at 415 but it's higher than that yeah okay okay so let me go ahead and find his find the comp that helps out my case the comp that helps my case is going to be probably that one's pretty big this one's that one's pretty big Muhammad's in there Muhammad's in here yeah let me bring up Muhammad [Music] what's his username I see Jim Randy 6 Tanner ask oh yeah you gotta you got a request to uh be on age yeah check your text well I can I can bring you up Edward um we have a lot of people in line here and it's going to be a second but I can bring you up um I saw hello oh hey just a sec let me text let me just text this guy really quickly um let me just text this guy his name is Tim so [Music] Tim hey Tim here's my offer or actually here's what I'll say you're good you're good so I'm gonna say hey Tim um I found some of your neighbors houses on market and I wanted to send them to you for reference I'm going to copy and paste the link to make it really easy for him to see um so this one is really is really close to you but has has 600 plus more square feet it's been well and another and another bedroom hold on no bathroom B actually we have more so 600 more square feet it's been sitting on market for hopefully a while no wait compare lot size too sometimes that there's a there's a great here we go check this one so this one's been here for 115 days I like that one so I'm actually going to swap that link guys because I'm looking for the one that proves my case the most this is his neighbor's house so this one is pretty I'm gonna say pretty much your neighbor's house pretty much your neighbor house um but has IID say 300 300 more square feet it's been sitting on market for 115 days and then I'm going to send send my offer then I'm going to go ahead and say my offer would be to take over your current debt and pay all closing costs I'd only be able to offer you a couple thousand as I'm and I want to say something he really understands as I'm going to be losing quite a bit per mon month [Music] per month why is that capitalizing month per month as a rental um your total purchase price would be the mortgage balance plus closing costs and even though it's not really included that's my total in that's my total investment plus closing cost and the and the $33,000 I'm offering to you guys as profit um this is a legal sale in which your oops wrong form of which in which you're no longer responsible for the property okay I'm going to send him that so what what what purchase price are you giving um I don't know what his mortgage balance is because I had him do a loan modification so I so I had this guy he was he was about to lose the house and and he had 30k in rear yeah and he had 30k in the rear so I was like yo call the bank there's a 50/50 chance they put it all on the back end of your loan sorry about that and um essentially they did they did put it all on the back end of their loan and he calls me back and says hey we got the loan modification but this doesn't change much I still can't afford to pay my mortgage each month and um yeah he's he's said that quote unquote we just talked to him quote unquote we have no choice yeah we have no choice so yeah it's selling above the price of a lot of his neighbor's house my cap should to solve and um yeah my my my goal would be to find a family and have them compete with the FHA loan on this one because you know I could get this to somebody for probably 12K what his rate it's gross it's like seven okay it's like that it doesn't cash flow 7% rate however the property is in really nice condition and it's in a really good area of Orlando and I think somebody would buy this for $122,000 down and I got it for 3,000 so I'll make myself a little 9k and then um yeah somebody would I would live in it it's got a pool and a hot tub so no money down is a big win for a potential buyers yeah yeah family it's not great for an investment I'd never buy this house myself unlike the other one I have under contract but but it's a it's a massive win for a family and it's a nice little 9k check for me so let's let's see what they say but I I think it's a bit of a no-brainer and I'm probably going to have to Stand My Ground at the 3K and eventually you know the buyer can refinance down the line anyway so that six or s% is in theory temporary yeah yeah yeah yeah they're what they're doing is they're competing with the FHA loan and and what see we have to get it for 3K down and here's why because if I'm a buyer here and I'm looking at this thing for $460,000 you know if I want to buy this thing with an FHA loan I'm putting down 3.5% well that's not 3.5% 460,000 time35 $116,000 so here's the thing I can get I can buy this like if I'm if I'm a regular person I can buy this right now for 16,000 down and six and a half% interest if I'm GNA sell this to somebody I need to beat the FHA loan we already know my interest rate doesn't beat the FHA loan it's above the FHA loan and then in addition to that um my down payment is going to be right next to the FHA loan so really the only thing that we have is the lack of a qualification process otherwise this deal mirrors an FHA loan unless I sell it for maybe maybe 10,000 and you're just talking about numbers I mean going through the FHA process is annoying you're right so we skip we skipped the process we skipped the process but um it's it's definitely a harder deal and I'm glad the loan modification has been accepted but that rate is a little harder we've got a guy on stage right now who just sold a deal to for $5,000 to Harry his name is Muhammad um Muhammad how are you are you how are you doing well doing well um so you you just let me pull up the address what yeah I actually didn't even talk to him about how he found the deal this is this it right here that's the one okay so so $5,000 check and tell me about the deal where did you find this deal same way as you find the um cash deal you just go around the uh areas where you know you have list that's listed for less than the surrounding uh other listings so just went in pulled up the listing I saw no picture so I was pretty sure that you know there was there's something going on inside the house either it's rented or it's it's in really bad shape I just called up the realtor and uh ask her some ask her for some pictures to see you know what kind of what's going on inside the house um and I saw you know there was a lot of room to you know make money on so I actually leled her with uh I think 25,000 she came back gave me an offer at 40 I said let me uh see what I can do I know Harry buy a houses there I followed him from the um live that you did with him earlier so I actually texted him I told him like Hey I have a house I'm with old my on wholesale you still buy there have this property I think uh if you get it for 40 or 35 it might going to work out so he ran his number gave me a solid offer I went back with that and from there we just you know signed the contract I tried to do um a um cash for keysys but work out before you say that I want to mention we actually got an extra $5,000 off the deal in the last week and so he's about to tell you about how he did that yeah yeah yeah yeah but hold on hold on really quickly I have to ask you learned how to find a deal and you found your buyer and hold my hand hold sale both yeah at the same time and funny thing is I had a buyer before I went under the contract so I know it going to close right so he knows I'm gonna close that's awesome man yeah this is this is excellent this is just a great story here and and it's not like a massive deal right but guys how big was my first deal $2,750 I keep it on my desk I framed it because it's it's the proof of concept but I should ask is this your first deal or have you done wholesale deals in the past I done wholesale deal in the past um I'm working on some other deals with you guys on the subject two side um so know I try to make it as my full-time income perfect perfect I should say um what really really makes this business go around is making content so so talk about you do yeah I tagged them it's fresh in your head you got tagged by the buyer here um you you can show the address now that it's closed um you can tag Harry and say Here's the actual person who bought it off of me and um people will say hey do this to my house and you'll just get all kinds of off-market leads but continue your story The the funny thing about this guy is is it's listed for 60 and he got it for 30 by offering 25 they counter it 40 he comes back at 30 and then the buyer is willing to pay 35 and everybody watching this or or 90% of people who come across this live stream are like oh we're talking about flipping houses you buy it for 30 resell it for 35 no your profit would get eaten BYO cost in that scenario this is you get a contract for 30 and instead of buying that contract yourself you switch your name on the contract for another buyer it's called wholesaling real estate and it got him a $55,000 assignment fee on this one but how'd you get him down from 60 to 30 so I looked at the picture so uh I'm just going to correct a few numbers uh we actually had it under contract for 35 initially and Harry said he going to pay 40 in total the for the house so uh and uh there was a renter in there so there is a lot of motivations which which I know that they have uh you know when I had the property under contract and the uh tenant wasn't paying so you know that was the motivation that I actually used as uh I knew that this the uh seller can't evict them so I I knew the whole story and I figured out I I told them like hey I mean there is pain in there for sure so I actually use that to get them down on the pricing so we had it under contract for 35 um and we had a cash for keys agreement initially with the tenant um me that they would get a $1,000 if if we did not have to evict them oh cool and Harry said he going to cover that uh as long as he signs the document and he he moves out before closing but happen to figure out the week before closing that the tenant did not move out they're still looking for places places to move out so you know we I went back to Harry and I told him this sto told him the story of what's going on and he said if you can get a reduction for 5K I can actually take it over with the 10 so risky 5K 5K less I guess you're probably not going to collect rent for a couple months anyways right I mean it's going to be a backlogged renovation I'm not going to start it tomorrow so yeah you know yeah buys like the the tenant might voluntarily leave in that time um hopefully I mean I can still offer cash to Keys now that we've closed but I can just put notices on their door and if push comes to shove I can have the sheriff physically evict them which in Cleveland it's like a two-month process yeah so yeah no I don't I don't I'm sorry I just don't have any sympathy for squaders guys I'm I'm dealing with the squatter in a deal right now it's just like dude not your house get out absolutely anyways uh yeah that's a dude that's a great deal that's a really good deal arv is 125 you're going to get Hefty check on the refi yes sir he's gonna get a guys we should talk about his strategy because a lot of you don't even know what you're going to do we want to talk about the real estate investing side of things too what do you do what are you gonna do with this like like start to finish what's how are you gonna make so this is the mo so I'll start with the beginning which is the most unique thing about how I do deals I got the whole purchase price and renovation fronted upfront so I'm actually going to walk away with $38,000 at closing and that's I'm I'm getting cash at purchase of the deal so not only am I acquiring a house but I'm getting money now how reasonable is that for because everybody's always like how can I do this how re how reasonable is that for somebody who's new and how many do you have to do before you get those lending privileges so so that's the catch in order to do what I do you have to build a track record and what I try to do is lower the buried entry as much as possible to build that track record so you're not going to do that on your first deal you're probably not going to do it on your second or third but once you get to fifth sixth and seventh then you no longer have to worry about the cash in your account to acquire a deal because people will be willing to lend you money on good deals is it um is it a 20% down payment needed for me for this for no for for a newcomer if you so if you you buy this deal he got it for 30 you're buying it for 35 um I noticed we didn't double close it to you I'm not sure exactly how it was structured so I don't think we double closed it to him meaning that your lender covered an assignment fee yes wow is that another privilege of doing a lot of deals so well first of all kind of so basically the reason why I'm excited about talking about this even though you can't do it as a beginner is because if you realize how amazing the destination is after you just get your feet wet then you're like yes this is the path to financial abundance right so the the lender in most cases is Will to finance up to 60% of arv so 60% of what the home will basically sell for and the reason being is because they're they're protected that's 40% margin that they have if I screw up and run away then they can just do the renovation themselves and still have Equity still have value left over so um how did you get them to cover the assignment fee because the only way that we've gotten lenders now I will say these are dscr lenders not hard money lenders but the only way that we've ever gotten dscr lenders to cover an assignment fee is by double closing it to them but will your hard money lender pay assignment fees up to a certain amount because understand guys that Harry didn't stroke a 5k check for us that your lender did right correct yeah how did that happen my pocket at all well so I'm gonna take a step back and say hard money is just an umbrella term that refers to people with money okay so you can negotiate different things um I happen to have a few hard money lenders some of them are are in like my largest one they have a fund of $100 million and they lend out to just people in Cleveland another my second favorite is a private individual he has1 to2 million do that he'll lend out and he likes to undercut the first guy that I just mentioned so he charges less interest and less origination the guy today that financed the deal he just wanted to get involved he just wanted to work with me directly and start his own track record of lending and so did they give it to you on a 12 month loan at 10% interest this is a 12-month loan and this is actually this is a high interest this is a high interest so it's actually it's 17% interest okay but I mean I'm GNA refinance in six months or less hopefully three or four months and you're do you use the loan to repay the loan yeah of course I so I use because you don't want to be paying I mean guys here's the thing it's 17% interest on 35 what is what is 17 remember remember we put 22 % interest on a on a 60k deal about a week ago guys and I was like it works it cash flows even though it's the stupidest craziest interest rate ever it works now this thing is not the point of you can't cash flow because you got a tenant in place you got to renovate and then you got to find a tenant and in my mind that's at least a five or six month process like maybe maybe get the tenant out two months renovate one month um new tenant another one to two months or I don't know what your turnover time is that's about right okay okay cool so so it's going to be a while before can cash flow and he's got a seven and this is not the only hard money loan he has out on because he just bought a deal off of the off of the 12-year-old so what I want to know is you were able to get a check to buy this house meaning the lender gave him more money than he needed because of the renovation I bet the renovation is less money than the lender gave you and that you're going to use a portion of the money the lender gave you to pay back the loan before it's ready to cash flow so if I yeah yes that's actually interesting point that's what I so I did the math if I refinance this in six months then I'm paying 6,000 in interest and the $38,000 I'm getting back at closing today is obviously way more than that 6,000 realistically it will cost me 20 to 30k to do the renovation what is your okay so you use your 8K spread in there to pay the loan back what is your um um what is your monthly premium for it my monthly premium yes I just 800 so it was like 6,400 divided by 6 so it's like it's like a, like a th okay I will owe a th000 a month how many hard money loans do you have I don't know that's a good question I don't know off the top of my head but do at least five do you have to do you have to continue this business model to keep it afloat like do you because if you're paying back hard money premiums before the refinance do you sometimes think to yourself I need to do another deal to fund the premium for this deal before the refinance and then another question is does well answer that first do you need to do more deals to fund previous deals no no because I have portfolio that has rental income and then sometimes I sell turnkeys oh okay okay yeah and then another question I'll ask on the dscr loan do you also get a check hopefully so this time this time I won't get much because I borrowed as much as I could but if I said only going to borrow you know instead of borrowing 75 I'm borrowing 55 then that would just be cash I got back on the Cash out refinance when I do the dscr loan okay okay so he does um he's gonna it's that's cool guys it's it's it's very interesting if with experience renovating shitty houses you can get a check people give you money to buy the house less money than you actually need to buy the house because the money is also for the renovation and then you can use the excess money they gave you to repay that loan while you're renovating that loan so that it's free and then you can refinance that entire debt into a 30-year loan which is then covered by your tenants it's it's it's a very it's very interesting so the arv is 125 so the most leverage you can get on the dscr loan is 80% so 125,000 time8 I could get a new loan for $100,000 to pay off my $75,000 loan yeah so I pay off the original investor I pay off whatever origination fees and closing costs for the new loan and hopefully there's some cash left over you have a million parties being paid in this deal guys let's see if we can count them so I was paid in this deal yes you were um Muhammad was paid in this deal Harry was paid in this deal the lender was paid in this deal with an origination fee and interest payments over the next 12 months or 6 months or however long it takes the title company and all of the people who work at the title company were paid they get Commission on their closings and the seller the seller got the seller got paid the agent got paid that's seven parties that got paid he's gonna refinance again that's another loan origination fee that's that's eight parties the people doing the renovations and then The Renovators themselves are getting paid the tenants getting we tried to pay the tenant they won't take our money I had that happen too they love to be pulled out their property forcefully it's so fun for them it's like a massage but like by the sheriff okay so we're going to Garrett's contract oh throw my Instagram tag in there wait we're not we're not done talking to you yet we're gonna keep talking to you here's Garrett um hey Richard can you plug the the form yeah but what did you just come on here to say can you plug the form or do you have another deal sign the contract you forgot to sign the contract totally signed the contract I checked my email I I think you may have opened it oh God no dude dude get this thing down get this down that this this deal in Florida um what is your down payment on this 7,000 bro this is a not a good deal can you get it down to like four and then I'll sign because this is just I don't know why anybody would buy this have the interest rate's kind of high it doesn't cash flow it's in Jacksonville yeah can you get it down to like 4K bro I don't want to sign things that I don't believe in selling and I don't believe this is going to sell I guarantee you it will sell but I'll get it done before if you want I would love for you to get it down to four and if they're like no I need to talk to the lender I will pretend to be the lender and I will list all of the reasons we can do a little tag team on it okay you want to do that what is that the down payment yeah I don't want to I just don't believe in this one it's just it's I know it doesn't look like that much guys but you have to understand that if this is the surface below the surface there's a lot more going on that always broke I bought a house in Atlanta it looked I'll even show you I'll tell you what How I Learned guys I bought this house in Atlanta and I did a full flip on it I didn't even think I was I was like oh just a touch it no full flip look at this so I bought this house it looked to be in really good condition um oh I guess the photos are not here anymore come on come on aren't there photos yeah okay check this out guys so see this house it looks kind of TurnKey right where's oh my God are we slow work okay look how TurnKey that looks Garrett you see how TurnKey that looks you know how much the rehab cost me on that look at that it's TurnKey right it's just got a little blood stain on the floor blood stain yeah you know and then you've got you've got the it just it doesn't look that bad you're just I was like oh we'll put the cocking right here we'll just put in maybe 10 60 $60,000 for this Garrett and it looks TurnKey right what did you like was there termite damage or roof or what it was it was flooding in the subfloor Foundation issues Foundation issues and I was like I was like oh 2.7% it's fine it's fine and and I couldn't get it inspected because the we had one day to buy we had one day um to inspect the renovation as it was going on I um Chris Chris handled Chris handled it I don't know what happened but um the cool thing is because we did a full flip on it we got crazy rent the rent estimate for this is400 tenants paying 1750 and I forced appreciated it almost all of that money so so Abdul is 17 and Abdul says he got robbed and no I owe 180 on this and it's worth like 265 my money just elsewhere um getting robbed is having the money sit in your account depreciate it 2.7% per year and get taxed on it I pay less in taxes for this I cash flow about $1,000 a month on it and the money has just been moved into a different account which is growing instead of shrinking um so I would have paid money on taxes if I hadn't bought this I bought so many houses last year that I hardly have to pay taxes this year anyways Garrett um please lower that for me I just and if they start to scream and yell I can do just agent commission which is 4700 I I deleted the contract I'm sending you another one with just 4700 yeah she'll sign it and dude we have 10 business days for inspection period I've been pushing 10 business days and we have a long time to find a buyer yeah yeah um for for for please all right all right somebody says we can't see um 300 people can see you can't see that you could see if you click the link in my bio though so Ryan selfishly I don't want him to talk because I want him to not sell his deal so I could buy it but selflessly you should let Ryan talk about his deal because actually I think it's pretty good Ryan has a deal we can talk to he still here we'll talk to Ryan yeah I'm still here hey so he presented this to my group not yesterday earlier this week I think it's cool so yeah sure all right so I have a uh hold on I have a uh sub to trust acquisition deal in Cleveland Ohio it's uh wait you're buying I would consider yeah because because it's because it's as good as it sounds you know who knows but the bad thing bad news is it's it's a 6.2% interest rate 6.3% interest rate that's the bad news it's cheap so it cash flows and it's not like Harry's getting that right yeah so yeah the lady bought the house two years ago for 130,000 she owes 126 on it her mortgage balance is 126 she was uh willing to walk away so I offered her zero zero down paying the agent commission which is only 3,800 and that's it what's the condition TurnKey ready it's TurnKey ready it's be it's beautiful cash flows uh SE a cash flows is $1900 a month cash on cash return right now without my assignment fee sitting on it is that 86% I have a buyer for 10,000 on that all day long um Harry better give you Harry you should buy that right now that's what I'm saying like if if he doesn't sell it well he um this was this what I was going to offer because I it just so the way I found the deal was um and I'll be quick on it when uh Harry came a couple weeks ago to introduce himself I joined his group and within a week of joining his group I did the same thing Muhammed just did I got my first deal cash deal for only $2,000 assignment fee small deal closing closes next week within Harry's group you sell it to Harry or one of Harry's students students one of Harry students excellent that's excellent so one of Harry's students purchased a deal from him for $2,000 that's great now you have a now you have a deal that's what our community does but trying to convince their Community to do it because it's an amazing bet and and and your students are probably having to put 20% down so that should be a no-brainer for them right well no most of my students are buying renovation projects you you so Ryan you sold a renovation project right that you wholesaled or was yeah correct yeah renovation so someone with no exper still doesn't need to put down a 20% down payment on a renovation uh in fact we've gotten it as far as they just have to put down closing costs and have reserves so someone can get into a bur for like 10K easy interesting but this is like the end result of a burr also for 10K what he's talking about yes why don't you buy that I'm I'm interested you should you should buy that so this is what I was this is what I was going to do oh well on THS Wednesday when I told you to bring me up and then you told me you was going to bring me up Friday I was going to ask you On th on Wednesday if we could do a auction or like a a bid on it on live because that'll be kind of cool for Content purposes and then depending on what I get on it you know if it if it gets there it gets there if it doesn't cool I was going to throw it on investor lift myself and then get a buyer but Harry then proposed to buy so he said if if nobody bids on it he's gonna buy it look I mean Perry you should buy this right now I will listen I will I will give you a 5k assignment fee okay I I can't I can't 5K 5K for 300K houses right so 5K plus the agent's commission that's that's my price that's that's where I would buy it at but if you can get more you should right right right yeah but here's the thing here's the thing reliable vers not reliable um the last auction we had I don't know if that closed I don't know what happened with it remember the cono for sure yeah the odds of Me closing are like I'm closing it's it's happening like so that's the trade-off so I actually told him like he's like I'm gonna talk about it on the hold my hand wholesale stage if I can sell it I will and I'm like I'm like you have 48 hours if you don't sell it for the fee you're asking for then I want it and that was basically what I said yeah I don't want to take money away from my guy you know that's right for sure for sure okay John blakesley says bro I'd pay 5K um guys we're going to do it we'll do it we'll do a little we'll do a a fun little bidding war on this um so worst case he makes 5K for me which is great hold on I have to see if I have to get before we start this I just got to see if I have to yell at my editor really quickly hold on he's one of if you want I could send you the address and you could share it on your screen I already have it on the contract so we'll check it out in just a sec I just got to see if my editors yeah that's a that's a pretty cool floor worst case you're about to make $5,000 good job good job and then also I got to let them know hold on hold on I gotta let them know about our clip from earlier today Great Clip at the beginning of today's stream and good clip Harry bought this guy steal and now might be buying sweet yeah well um hold on I got to send them this audio because they need to know what to clip whenever I'm doing my live streams I tell people to clip things so I'm going to I'm gonna say I was talking to this guy about uh this or not this guy I was talking to the students about this multif family deal listed for 1.2 that's like literally impossible and then I was also talking about a house I'm about to get for $3,000 down in Florida Orlando Florida which is pretty crazy so there's there guys if you just watch it take your time watch it I want to make sure that we have really good Clips uh yeah check those out all right we have a same agent has two multif family for sale Fabian if that's under contract I'd love to bring you up or if you need help with that but in the meantime we will check out this deal so we should we should run through it first Ryan can you drop the address in the in the chat I will say I I dm'd it to you but I'll put it in the chat send definitely definitely I think you're a CI operative yeah um do you have a Gary says 10K bid total hold on we'll let you bid in just a sec but we have to tell you what the deal is first if I give it my stamp of approval it might sell for a little bit more so let me let me check it out Ryan do you have a balloon on this at all no balloon no balloon is really nice guys that means you can own it indefinitely so no balloon um nice yeah bro if I had it's in the good area of Cleveland too yeah guys if I had to buy house in Cleveland this is what we yeah this is really good that's a so the house is good you've got a 10-year roof it doesn't look destroyed the interior looks good I I don't think it's going to need a lot and then I'll just check the street you really quickly for the area what's your interest rate on the loan 6.4 you said 6 point I tell you right now cuz I got the mortgage statement uh um if I remember I'm not a native speaker can I do it yeah the guy who just uh 6.125 6.12 oh that's not bad actually 6.125 area is looking just fine okay um and for the guy who says I'm not a native speaker can I still do this yeah man Muhammad the guy who just he has an accent he just did a deal what about Anon he's not a native well actually his native language is English but it's like interesting English it's like British almost it's very very interesting but technically his first language is English I think he only speaks English but um yeah so now it comes down to like is this a good investment and I just have to ask about the um the Piti what your Piti uh Piti is um a, uh 6060 okay so so my thoughts on Piti is that this must be because of Cleveland's tax increase that we saw because whenever I see a house like this maybe they've owned it for a while well Maple height specifically has higher taxes yeah that must be it because your 6% interest rate on a 100K loan is not that and where's there I don't know what they're so I don't know what taxes Insurance are but you said it was 1,60 taxes is uh taxes monthly taxes is 210 insurance is $45 I do think the best monthly taxes her mortgage payment is uh $85 what does she owe right now she owes two 126 uh well no sorry she she probably got the loan for like 130 U yeah she got the loan for 130 she owes okay I'll take that yeah um so maybe like 130 and some change that makes sense to me so guys because of what it is I think Section 8 is the best option but if Section 8 it's close to long-term rent I mean you might as well long-term rent it do you have long-term rent in any of your properties me yeah yeah uh you mean private pay is that is that is that what you call it well they're all longterm everyone's longterm but yeah that's what I call it because I mean technically section 8's also long term in fact section 8's usually longer term because those guys are not moving so often I think it's going to be $1,600 for Section 8 on this and then and then do they lowball you to to 1400 no I actually think it's, 19900 what yeah in this neighborhood that's crazy hold on so this that's what makes it that's what makes it yeah it's 19,00 for a three bedroom in this area is it in kayoga yes kyoga yeah yeah so you don't even need to go private pay private pay WOW 1920 20 wow wow okay so when you show the HUD Department um the 1920 rent and they see the the long-term rent 1400 did they hit you at600 90% of the time I'm getting about the HUD user rent sometimes they surprise me on the downside sometimes they surprise me on the upside but I'm usually getting like HUD user rent they're going to give you 1920 per month on that yeah keep talking Harry keep talking keep talking don't let Harry stop talking wow that's great so guys here's what you have here in my eyes I always look at the Landscaping the concrete the roof the siding to determine like TurnKey because if there's you know things hiding if there's skeletons in the closet the rest of the house isn't going to be taken care of and everything that I'm seeing would point to the fact even the condition of the garage on or the yeah just the garage as a whole would point to the fact that this is fully turn key I think it is I think it is I'm sure there's maybe a couple things here and there but it looks really really good guys and then the the thing is you're paying 1,6 and you're bringing in what Harry says as $1,900 on Section 8 so cash flow monster $ Z down TurnKey cognition 900 cash flow and you'll have endless demand too because this is a nice area you know all of my all of my homes are in like cclass d class neighborhoods this is actually maybe plus I hate to say it Harry I think my section 8 buyers would pick this up for 12 ,000 I think maybe maybe more maybe 12 to $14,000 so Ryan if I were you I would hold Harry as a backup we'll do the auction here sent to my team post it on Facebook post it on investor lift and we'll see who finds the highest paying buyer um so that's what I was going to do I was going to throw it on I was going to do the auction if not throw it on investor lift myself you should throw it on investor lift what do you know what subscription you have on investor lift we have the $40,000 we have the $40,000 per year subscri destion on it which yeah I don't got the $40,000 one um I'm not falling like that but pretty two because lots of buyers are on Facebook Hold on to Harry we'll do the auction and then also send it to my team because we might be able to get somebody to do a crazy bit on this but guys this is the best rental you could possibly ask for I'm I'm a bird in the hand we close in a week um that's so guys this is the best rental you could possibly ask for this is really really good and like I would buy this if I were you and I were looking for cash flow this will give you a $700 to $900 check per month depending on whether or not you manage it yourself and your money crazy high cash on cash return good condition good location lots of the exit strategies guys who wants this somebody says 10K offer closed in a week well title can't move that fast but let's hear let's here what you say and then also Ryan don't sell this to somebody without proof of funds okay make sure you get proof of funds from them and also we probably want them to submit earnest money soon so Gary at MSU hop up on stage man Marcus Oh Marcus Gary's in my group too Marcus wants it Antoine wants it I'm bringing up the people who want it so that live auction let's go you guys can yell yell over each other um yes it's an auction aruro you say you want it guys if you don't come up on stage you're not participating in the auction um any other people want to part anticipate guys if you by the way if you say you want it and you back out nobody will ever sell you a deal again in the community because they're like you're a fake buyer so don't say it if you don't actually want it if you if you're like wait I might be a flake go go back go out and for reference 20% down is $26,000 before any closing or title costs right that that's the other way you buy this deal you didn't find it creatively like Ryan ignoring the annoyance of actually just applying to get financed any body who's I understand there's a lot of people out of the Discord who want this deal but guys how am I supposed to get in contact with you like we got a ton of DMS going on and my DMs will fill up in about a minute um so hop into the Discord it's not just wholesaling it's buying properties and crazy opportunities you're not going to find elsewhere he's got this for zero doar down Ryan I also have to ask have you considered buying it that was my question I I have I I considered it I considered it I just I just can't I just can't right now okay I have the cash I have the cash to buy it but I just can't no no no I get it I get it I get it um it is it's it's really good you did very very well um okay so um guys we're gonna we're gonna we're gonna start this we he Harry starts the bid at $5,000 who who who on stage is willing to do $6,000 friend why don't you buy this that's a sweetheart deal I would keep it okay on stage put your money are noises from Eastern Europe um what do we have anybody who's doing $6,000 I'm down with 6,000 Antoine's down for $6,000 okay do we have anybody doing $7,000 anybody beating 6,000 the MSU Guy come on don't tell me you were just all words don't MSU don't come on come up on stage man well by the way we're talking 7,000 plus like like 7,000 assignment fees so there's also the AG commission right I think it I don't know it looks to be off Mark so so okay well actually let me ref so my offer is 5K assignment fee oh wait wa wait on Ryan is this this thing's off market right now is is there an agent that needs to be paid it it's off Market but an agent brought it to me ah how much does the agent need 30 37 or 3,800 I said earlier okay that could be negotiated okay so it's $3,700 down um so if you're at if you're at $5,000 as a down if you're at 5,000 for an assignment fee you're really at $8,700 which isn't doesn't change anything guys it doesn't change anything it's still a really good deal um so so here's what we have if you're so Antoine's at $6,000 Antoine if you're at 6,000 you should expect your total cost of investment to be 9700 that's probably three in closing cost so $12,700 that sounds good to me man yeah I mean it's it's great it's it's good absolutely because it's not going to go up in value very much but it's it's a cash flow play all day long but what will go in value is your rent which is really good so does anybody want to beat that Antoine's at a $6,000 assignment fee all right okay thanks everybody else for coming up on stage you've got about five seconds to to say whether or not you are G to buy it but are nobody else is gonna buy it if they back out and don't close you you know just give me a call in a couple weeks you know okay okay all right all right well thank thank you all thank you thank you I'm gonna refine the stage again I I thought we had some more paying buyers but we did find one so so Antoine um how you're already in contact with Ryan right well I just want to say you know on on Ryan's behalf like the alternative is putting down 20% with a DSR which is 26,000 and then you still have to play pay closing cost to a title company that could be a couple thousand origination fees for the loan you got to pay for an approval so you're like the alternative to buy this turn key investment if it wasn't through Ryan the way he structured it would easily be $30,000 plus the pain of just getting financing huh guys you it would it's a great deal so so Antoine's going to pick up that deal well I mean it depends on whether or not Ryan's going to accept that offer but it's a it's a great deal regardless so yeah we um um I think we already talked or you were up for the auction okay what's this ask Harry to pay on the day EMD is due for the huge discount I don't know I know that I don't know you mean I I pay emds okay um Ryan you want to just DM Antoine and then um is it it's a trust acquisition agreement it is a trust okay so um yeah then Ryan you have my phone number I don't have your phone number nope okay well when you when it's time to close that um you can submit it through the creative Tab and say I already have the buyer for this but um if there's any hiccup there and you need to manually push that through my phone number is in your DMs you can just give me a call um and then I can have our TC team close that by the way we're starting a title company um called yeah gold key title and it will specialize in closing trust deals we'll also do SUB two deals if you're inclined to shoot yourself in the foot and cash deals so we're starting a title company with Lexi uh we have already purchased the domain that's happening soon nice man um Chris Chris is spearheading the operations for that and I'll be doing the marketing for that oh also I also I forgot to tell you guys um propstream has a major major value ad right now they're giving you $50 towards letters which by the way that's like hundreds of letters like mail so you could find off-market sellers who just had their listings expire and send mail to them for free on Prop stream so so I I should actually read the benefit they're giving you because it's actually more than that so hold on let me let me just read what we have um where's your title company that's that's here is that are you announcing that here first now this is the first time I've ever said I'm starting a title company that's really cool yeah I didn't well I'm actually doing nothing for it but I'm signed on the LLC great um so I'm I'm going to talk about it that's my role isn't that fun guys you start to do social media and people start a title company for you and all you have to do is talk about it and you get a part of the profit from the title company crazy can they be licensed in Ohio can they be licensed to do deals in I think the goal is Nationwide because we teach Nationwide that'd be great yeah I came I came across a vid of yours and and still don't understand how to start this join hold my hand wholesale the link is in my bio then show up to class we got 272 people in the audience right now we just sold a deal um one of our students deal for potentially 6,000 depending on whether or not Ryan accepts with a strong backup offer and then you've got an amazing backup right there and I always think security is is the best congrats on your new title company it hasn't been started yet we're we there's a lot of logistics to do um okay so propstream lady says um just reminded we increased $50 marketing credit up oh okay okay so it's just the marketing credit it's the marketing credit um so guys you get free $50 of letters and texts and and and Skip tracing from propstream so propstream sends letters for free now which is cool um did not know about that until yesterday oh she asked me if I could talk should got like water right there oopsies hey Liz I flew to San Diego and I'm a little bit busy right now but honestly I could probably speak to you tomorrow morning PST thank you okay what's the new feature on Prop stream they're just doing a promo where you get50 $50 of marketing credits free when you sign up which is nice all right um okay so I'm G to refund the stage a little bit Ryan do you need anything else from me man n brother appreciate it appreciate it really good job really good job that'll be two wholesale deals in like what a month maybe two within the month cuz next week the the one that I did in yours closes great dude I'm very happy to hear that you guys are killing it good job good job good job okay um Antoine we've talked to you I don't know the order of people but but Alex has been here for a while and it's like 4 AM where he is so Alex go ahead man uh yeah one one second one second man I'm I'm right now driving if you if you have somebody else available to help that's going to be perfect because I'm driving right now and I'm not driving alone and I could not speak right now actually it's okay it's okay we'll talk to you in a bit yeah yeah perfect ke I want to say you've been here for a while um Keb how can I help you man hello Keb you sold me a deal last month how can I help you I gave I gave gave ke five or $6,000 oh just for North Side okay I got you cool ke can you hear me okay Edward can you hear me okay oh can you hear me yeah I can how are you hey what's good man long time no speak how you doing man I'm good my guy I'm good so I have this property um in uh Tuscaloosa where you have a few properties so the lady just got divorced and she doesn't want to do trust she doesn't want do she want to get rid of the house she has it listed for 151 uh I've been talking to the agent for months on all the deals so I told the lady we can give her 88200 she like she would do the deal but she bought the house with the habitat for humanities and they told her that she has to live in the house for 10 years she's been there for 12 and when she told them that she got a divorce they said we'll let you out of the deal but have to either sell it to another family or another person not to an investor to flip so the agent called me and ask me is there a way around that because she would do the deal if we can get around that hi I'm calling to make an offer on your house I understand that you need to live in it for 15 years and be the owner um how about we enter into a partner ship where I take over all legal obligation of the property essentially we'll put the property into a trust and I'll buy the controlling interest of the trust all that I want to be done with the property you would be done with the property in what way would you still be tied to the property because here we're not actually selling the property but you are completely done with the property I own 90% of the trust and you own 10% just to abide by what you're looking to do so we need to we need to reset her expectations we need to talk to her on the phone and have another conversation with her because because the trust is perfect for her situation it's not a sale it's a partnership that removes obligation we do have a way around it it just needs to be phrased differently so I you know I'd be happy to even call that individual and explain that to them yeah you yeah you can I told latata uh talked to my partner and U she said if you can call by 6 she'd be happy to talk to you um but we did go over all of that um it does cash flow uh Section 8 We Rent Out for 14 90 regular will be 1377 um what else uh oh uh she has a 57,000 mortgage left on it so with the cash offer after lanan gets her 5,000 should be netting 33,000 flat and she said she would prefer to do that um because we did go over the trust I went over all the benefits and all that and she she basically said anything tied to that man she basically want to P bleach and gasoline on and be freaking done with it but I told Tanya the best bet is the trust and that we can give her a call on the three-way so that um you can talk to her because you handle all the the numbers and the legalities of the trust sure um yeah I I I mean I I think a partnership with a seller is the best way to go the sale doesn't work he text you L tell his number or what you want we can do it right now yeah yeah why don't you just why don't you just just you have my phone number why don't you just text me your number text right now okay cool yeah yeah yeah let's take a look at that oh the address is in your is in your DM it's the second one it's in Tuscaloosa oh great I have a house in tus that's awesome yeah it's the 244 that's the one that it is it has a lot of character I figured you would like that one by the way it looks it um it has a 12 year roof on it 12 year HVAC on it and the okay I found it I the um con construction worker that went out said it needs very minimum you know upkeep where's Richard um yeah shoot me over the the information and we'll pull it up right now and I'll go ahead and give her a call I just text you I just text you a number it's a 205 I just sent it you okay perfect we'll go ahead and check that out I will tell you the the interest rate on it cuz it's built in 12 rate is at s interesting yeah I said that too because it's built in 2012 but the interest rate is at seven um so with the 88 cash offer I mean she still with benefit but I told her to trust because we want you know a beautiful house that been talking with t for months on other deals that had to go through because of the holiday we had to drop two of those okay hold on I have to ask Maddie something the other one that in your DM he just he called and just decided he not going to do anything oh yeah by the way none of these deals are on market yet she just gave me the heads up not gonna put them on market for another two weeks but she wanted to get it over and done with right now cool pocket list yeah I'll give I'll give her a call um right now and we can have a conversation with her let me just send this to name is Lata okay I'm just gonna hold on hey I had a question about this how does this happen how because there's over a thousand dollar in fees right here and I I just oh that that's scaring me I'm I I hope that's not actually the case because then uh that would be a problem okay and then I'm sorry guys my my apologies just a moment here very strange but address those all right let's give him a call wait I didn't ask their name who am I calling T um okay okay Richard oh hi you were expecting my call already yeah it work said you were gonna call me oh perfect perfect yeah then you know why I was calling it was about the one in Tuscaloosa um look I just bought a house in Tuscaloosa exact same scenario here um and the way that we did it I think that Edward already mentioned it to you but but there's some sort of constriction preventing this from selling I understand something like you must live in it for 15 years type of thing right so my C has to live in it for 15 years she's been there for 13 and she went through a major divorce and kind of out grown the home so she just wanted to just be done with it all together so the committee had to meet and it took five months um to get this exception but the is that it has to be sold to a single family or an individual it can't be sold to an investor or per or flipper got it and that's if she's selling it prior to the 15 years correct so let's just not sell the property let's sell an entity and then in the eyes she she has to sell the property in order to move forward because the property she has so much equity in the property that she has to pay off debts of her dead to income ratio can afford her on New property with her kids and herself well I think yeah perfect perfect so I think we should probably talk about what that would look like um she's got a lot of equity would she owe like 50 60 70k or something on it she owes 55k mortgage oh okay I wonder what type of deal he was structuring with you because usually when we take over somebody's mortgage we put 10% down but your client's goingon to need a lot more than that your client's going to need like a hundred or more as a down payment right yeah I mean she has to pay off about she has to pay off about 45 to $50,000 in debt to get her debt to income ratio excuse me so she can qualify for another home outside of this home I can reset her debt to income ratio by taking over her mortgage but I wouldn't be able to pay her out all of her Equity until a later date so honestly I think that I I was going to talk methodology of like how we could do it but I think numbers are probably more relevant here here um honestly what I could do for her in this scenario is I could probably give her $155,000 plus closing cost of her Equity up front to take over the debt that she has and I do have a solution to this predicament that she's in but that's not super relevant unless the numbers work for her so I have a way to get it done but it it would have to be like a $155,000 down payment and then a balloon payment for the remaining Equity the good news is I'd give her more than the house is worth and pay her out out of that amount but we can get it off of her debt to income ratio I can get her some cash right now your commission right now but not the full Equity that she's that she'd be expecting so if that's okay then I can move on to methodology think so just because she just needs so much for her debt to income ratio to be on the other side of her buying well we can we can keep the DTI we we can we can offset the DTI very easily so we have we offset the DTI on day one just by creating a Le option through the trust and and that's really a very very simple thing I'm so what I'm wanting to do is I'd take over her mortgage payments i' I'd take over her mortgage I'd take over ownership of the house and I'd pay her out her remaining Equity probably on year six or seven um which works for us and I can reset the the DTI no problem whatsoever and I've got a ton of sellers who can vouch for that like I sold Richard my property and this is exactly what happened to my debt to income ratio and I'm happy to talk to you about that in addition to attorneys as well so getting the DTI off is no problem and even keeping the loan in place the only hiccup I foresee is like hey you know the house is worth 150 plus and I'm only putting 10% of that value down so if she's okay with that then I can talk to you about how I could do it but I'm just not sure like at this time if she's okay only receiving 15,000 of her Equity now and having to wait for the rest does that make sense she's not she she's not okay with that know she's not okay with that yeah so that I wanted to get that out of the way first so honestly I I'll go back to Edward and and and he can go back to the drawing board on this one and see what he can do um but but yeah rather than than explaining how we do it we should yeah talking about the numbers is probably going to take precedent there numbers numbers is what matters right now every and how we can get this instead of it being an investor person or whatever can it be single family I don't know how you guys can make that happen that's the only stipulation with the property because it's Habitat for Humanity so you know I just kind of need to know the ins and outs of it or yeah and and that's that's how we would do it but of course the bigger issue is hey I need my 100K of equity first um so our our issue is like well why don't we just go put 20% down with the bank you know the point creative Finance for us is so that we can put less than 20% down but then her need is I need way more than 20% down right so I totally understand that um the way that we would do it is rather than selling the property we'd sell it as an entity and we'd keep her on the entity but within the operating agreement of the entity we'd remove ownership and liability so what that kind of looks like is imagine you have a parent and the parent has a has a house but they've become a little bit old and are no longer capable of the taking care of the finances or or managing the house or whatever so they put the property into a trust and for whatever reason like maybe this same charity reason the house can't sell what we could do is within the trust we could give somebody complete and total control of the property and ownership of the property while still keeping them on just in name and I've I did that in Tuscaloosa about a month ago and I'd be happy to connect you with the seller real turn who closed that deal for us but none of that really matters unless we could come to an agreement on numbers so honestly I'll I'll have the Acquisitions manager who you talk to about this perhaps rework numbers and see if he can come up with something that is doable for us okay because we are trying to compete with a loan at the end of the day loan has us put down 20% so we're obviously trying to put down less but you know maybe he has another idea of how we can do this and if you guys come up with an agreement on numbers I'm happy to explain the process and then connect the dots with any credibility that you'd need okay sounds great perfect well thank you so much for your time and it was Tanya right perfect we'll hope to be in touch soon and then anything you else have you have in Tuscaloosa especially low Equity deals or uncache fan of those yeah sure Edward is my guy thank you all right thank you so much talk to soon bye bye byee yeah um Edward you gotta figure out down payment on that man so the 15,000 wouldn't work what would you do on this I mean we need she was she was talking that the cash at 88 was good I pitched the trust before and um of course you went into more detail and she kept saying what she was saying to you so cash the problem is it's it's going to an investor in cash so it's going to an investor in cash and it is a sale in cash so we can't do that because of the charity that lended her money so I have a solution for it but it's the trust method and she's looking for money up front I don't have more than probably I think 17 $177,000 for her up front I've got more money on the Tex me he just texted me and said nothing I talked to him lovely guy but nothing makes sense but okay I mean yeah um you know it's it's it's a hard one because it can't be sold to an investor so I can't do the cash deal um and then as far as the trust deal great but she needs more money for her next place that she's moving on to so the only way that I I would be very upfront with her and I'd say um the only way that I can do this is if we um is if we give her part of her Equity now so that so I would say the max we could do is 17 and closing costs 17 closing costs and her 5,000 in commission CU that's all she wanted was commission yeah yeah um just sell it to her like hey this could be a backup offer because like I said it's not even on market yet yeah say it's a backup offer and say we come up to 17 to take it over but but but teller will give her you know 15 over her asking price and balloon her out on that and I would make it fortunately like an eight-year balloon as Tuscaloosa doesn't appreciate too much Tino are asking 8ye balloon 17 at the most of 5K plus closing all right yeah Rich you still that guy man I ha it's been a minute since I talked to you I appreciate you I appreciate it I appreciate it um trying to put out a fire on the back end of things um I'm going to send this to Chris because there's some weird fire going on right now and I'm trying to mitigate the fire no it's good it's good that's that's all I had because the other guy he just he ain't on Market either but he's he's GNA list his at 329 and I talked to him and he doesn't want to do cash he said we we GNA we're g to see what we can do cuz he owes 180 on his he's asking 329 but he has a 4% interest rate and he he's going to she's going to put him on Market in two weeks so I just made a note check back with him in May yeah you know yeah you know it's it's it's okay to have a 4% interest rate it's harder when somebody's expecting a big payout and we can only give them part of it up front right right yeah yeah anyways yeah best of luck on that man and let me know if there's anything else you'll need all right I'm about to caller right now anyway all right perfect talk appreciate you man yeah you as well I got to put out this fire is a mess hey Chris I already showed this to Maddie but this looks like a scam um this is what came in and this is what we received and that looks like a scam that's over $1,000 difference I will drop them so quickly if this is the new Norm I will not stand for that that is complete and total trash and not what we talked about when we signed up with them so I just what is that and then I also see I mean what let me just let me just check that percentage really quickly dude that is over 15% it's it is over 15% difference right there that is ridiculous um I talked to Maddie here but I'm live right now there's only so much I can do I think Maddie needs about 10 phone calls back to back because I are we being scammed what what that I this that's really really crazy to me I'm so sorry one more call for this issue there's like a fire just popped up um very fun I can't put this one on speaker guys I'm so sorry no response okay all right the fire will continue to burn oh crazy crazy rich I got to go to work soon so I was just going to talk to you about what I have going on real quick yeah sorry what do you have man um first of all I have a I think I dm'd it to you but it's a whole list of properties they had it listed at 3.5 originally and moved it down to 3 million once one property got taken off but um I talked to them and they were open to create a finance terms on all of the properties as a package deal and their terms are like unreasonable like currently right now but they're open to negoti NE iations on the creative Finance term so I kind of just need help structuring those but we don't have to do that right now we can I'll call you on the weekend or something we can talk about it yeah yeah I'm super free on weekends um but yeah you know you if you have a $3.5 million portfolio I'm gonna try to analyze how overpriced it is just by looking at the days on Market if it's been on market for ages I know it's drastically overpriced and I might two months old at least I called them like be a long time ago so maybe slightly but not too far off um so based on how long it's on Market I that's that kind of gauges how much more I offer over so guys if I see something that's been on market for um you know hundreds of days I might not go over list price knowing that it already is over list price if I see something that's recently come out I might go over list price knowing that hey people are still interested in it at this price um but before any of that we need to see if there's a mortgage on these because these have commercial loans on them we don't want to do anything with the commercial loans yeah so ask ask them because we don't want to take over commercial loans we might be able to do it um in the future but but it's it's there's a risk with the do on sale Clause right now all of the ones I've looked at so far don't have any commercial loans on them I was making offers on some of the other properties because they're like ba FHA all like assumable type loans um and yeah I I'll check through all the properties just to make sure I haven't seen any that are commercial absolutely um now here's a good question I'm brand new two days in from losos Nigeria need to make this work searching for properties making calls hey take our courses man I just dropped three I just dropped four courses I have four courses that came out guys four courses just came out and those courses can be found within begin creative and they're really really high quality the other ones before I did not like but my creative finance courses um with that are right here guys they're actually like the like they're really really good like edited and like perfect camera and everything it's just really really good um um I'm on Stephen G's acquisition team we can take over commercial loans in the trust of course you can just like um you could play Russian Roulette but should you um I've just talked to the the attorney on this and um you have no protection against the do on sale clause which means you could be millions and millions and millions in debt I am happy to let step take on that risk I'm happy to but he's you know he's one of our group leaders and he should know that you know the guy who does the trust and our attorney like yeah we can't actually mitigate do on sale clause and the larger the amount of money they owe the more likely they are to call it do on sale um and also typically commercial loans are granted by institutions that don't have that um that don't have that much um don't have that many loans out so they can really monitor those hold on Chris texted me nothing I can do not sure what that means I'd like toly understand what that is before I jump to a conclusion oh it's it's a 15% margin is what it is 15.8% margin I believe um we signed up with them at like 1 to 2% so it would mean that for every $7,000 we generate over $1,000 is taken um what company is that yes yes because Maddie I want to be as nice and respectful as possible but if that's the case I'm out of here um I had one more property I wanted you to take a look at I sent this one to Garett I just wanted to like make sure with you it was a good deal um I send you the add yeah absolutely is your deal still in closing my deal is still in closing as far as I'm aware got closing docks for it yet though good closing docks come on like the last two days or so but okay okay so here's a deal Palm Bay 424 this has got to be a mortgage takeover right the one that I sent you yeah 828 I'm sorry you cut out what was that was it 828 like the address yeah that's a mortgage takeover um I offered them 18K and they're like okay with it the issue is on this deal is that their mortgage payment is it doesn't make sense for an investor they're paying 2K even though they only have a 4.25 4.25% interest rate and at the 2K payment it's not really generating much cash flow so it only makes sense for like a a buyer that would be like living in it not like as a rental property most of these don't cash flow um most of these don't cash flow and um yeah it's not actually that big of a problem if they don't cash flow that's just most of them so I would say um I'd say you're fine the lower down kind of what lower down payment kind of makes up for that so I i' I'd say you're probably fine but to really ensure that you're fine lower the down payment and I'd also ask about rental restrictions as you are a negated community and sometimes they're can be a weight list so we need to make sure it's not 55 plus Community or a weight list to rent out the properties yeah I did that's fine there's no HOA or anything like that either there's an ho no that that one's a $70 HOA but it doesn't have restriction it can also be Airbnb oh good Okay cool so yeah then you know that your 18K might work it's kind of like probably 60% that would work um because the rate's not amazing but the house is great so it's it likely to work but the lower you get that amount down the more likely you are to get it to work okay the seller's open to that um the only other issue I had was that they didn't really believe a trust acquisition would work on a VA loan which I know is not true I have one on a VA loan I have two on so check it out there's two I have on a VA loan I'm gonna send you the addresses that's great I can yeah I'll send those to the seller um all they just need to be like convinced that I can assume their VA loan they think that once I assume their VA loan I can't have other tenants in there but that shouldn't even be an issue because this wouldn't be a rental property don't tell people you're going to assume it unless you say like an assumption but different because we're not actually assuming these loans but the thing is a VA loan is a government backed loan and all government backed loans are assumable so FHA and VA loans can totally be assumed but it's important to note that we're not assuming them yeah well I when I actually sent the text message I said assume the debt uh not assume the actual loan assume I'm not sure that assume is the word to be I say assume all the time I say yeah it's like an assumption you know it accomplishes the same goal but understand I'm an entrepreneur in order to qualify for that as an entrepreneur you need to show proof of income which is difficult because as an Entre proof of like consistent W2 income like check every single month but as an entrepreneur you have write-offs and the write-offs can kind of make that a little bit harder so it's hard to qualify for a residential loan as a as an entrepreneur some of the time so I would say um you know it's like an assumption but you know it might be hard for me to qualify so I would do this instead it accomplishes the same goal Garrett Garrett can talk to him about that yeah I think that I just messed up my pitch a little bit on this one but it's a really good deal and they're open to having me take over that loan in some way they just need a I I just need a little bit of help basically so I sent it all to Garrett and I'm going to try and schedule time next week yes yes absolutely and guys um I know that I know that more than half of you might hear what I'm about to say but this is so important we have an in-house Acquisitions manager um the in-house Acquisitions manager is Garrett and you know what he does when they ask you about this stuff and you don't know how to answer it and you don't have the credibility and you don't have past deals that you've done you don't know how to answer the questions we have an inhouse Acquisitions manager who calls and closes for you within begin creative um Alex I will unmute you there's a lot of loud noises but just a second um so yeah if you go to trust call closing with Garrett he calls and closes the deal for you that's amazing yeah anyways guys you you're profiting off of deals that you're not closing which is great um all right you got your you're we're we're answered and situated I'm good all right see you later Jared yeah bye by the way my friend is coming he's trying to get his first flip his first B just FYI oh cool that's very fun there G be an extra human nearby soon yeah yeah absolutely um we already talked to Edward right Edward I already called your person right yeah I I called her already okay um and then Alex you were you were in the car last we talked to you how are you oh I can talk now right now thank you yeah I'm good uh all good no car no car accidents hopefully yeah uh so the deal is uh realtor is really stressing about the no contract for two days I submitted it yesterday morning for me so it was night for you so basically two days ago uh is there a way to I I don't know manually not manually just just asking if there is a way to push the contract a little bit faster or if you could do a manual contract for you to sign because I know I can but when did you when did you submit the contract like in America like two days ago but it was at night or at the I would say evening but for me I submitted it yesterday in the morning okay so he's in a different time zone guys so we really need to make sure that contracts are being processed quickly because I I'm going to tell people not to submit contracts if contracts are not sub because remember guys my my allegiance is to the Discord and to theud students so I as much as much as I want to say you know we'll fix it if it's not fixed I'm going to tell them to manually do contracts which affects commissions on the Sal set of things so um whole buybox cartel team hold my hand wholesale team um we need to get contracts back to students within 24 hours unless it's over the weekend I understand today's Friday but he submitted that two days ago um so um I'm gonna tag Dale and Kurt here I really really really want to make sure that's happening because if I hear that sort of stuff from a student my answer isn't we'll fix it because I've said that in the past my answer is let me manually do the contract for you um we don't want to be doing that okay so yeah I I can do that but I'm gonna have you do it because a 12-year-old does it um it's really easy and I've done it maybe 15 times in the past week so Alex go watch go watch I was not sure if I can do it myself and send out to you if you will sign it and uh yeah that's the only that's the only objection I had I'll I'll sign it but guys so everybody knows a Singaporean 12-year-old without a driver's license or a bank account does his own contracts he sold me you got it you got it I know you got it I know you got it don't let that kill your deal guys okay time kills all deals and if we wait too long to send a contract we we can't but um you know I I I learn this stuff without anybody to ask questions to and I've I've filled out the entire contract for you highlighted everything in yellow that you need to fill out and done an instructional video on how to do it so don't drown in two inches of water guys that would be devastating go fill out that contract and if you don't want to sign it I'm happy to sign it you can send it to me but you can also sign it yourself too okay uh I I'll I'm sorry I'll do it myself right now perfect perfect best of luck man let me know if you have any questions about filling it out but but there's like 10 fields to fill out it should take you no more than about three minutes got it thank you um yeah absolutely absolutely um what do so here's a good question Richard what do we do when we have a good deal but the agent says the seller wants to move forward but we can't assign the contract it depends what type of deal it is uh the the type of deal if it's a cash deal we can double close it if it's a seller finance deal or I'm so sorry if it's a mortgage take deal we don't need to double we can we can assign it because the trust and then if it's a seller finance deal my only solution for seller finance that's non assignable would be to talk through it with the realtor or to put it into a trust so you could put a seller finance deal into a trust and then sell it that's totally possible we that that actually wouldn't be an issue whatsoever um Daniel no I I'm unfortunately I'm not going that that thing sold out a couple days ago but um yeah so Felicia I would have another person here negotiate that for you as I have to go to dinner with Grandma soon but um that's it's a very easy objection to get past but it depends what type of deal it is if it's cash you're totally fine if it's a mortgage takeover deal you're also totally fine if it's seller if it's a seller finance deal you're going to need a little bit okay it's seller finance so if it's a seller finance deal I think there is a way to do I think there's a way to do that Felicia before before we jump through hoops on a seller finance deal why don't we just talk them through it and my best answer for a non-assignable contract is is largely this the way that I buy houses at zero dollars out of my own pocket is by finding deals I'm not compensated with an assignment fee I'm compensated with Equity I'll say it again um I'm just starting out in real estate and the way that I buy houses at $0 out of pocket is that I'm the dealfinder so think about it this way if I have a deal that's worth a $115,000 assignment fee I can foro my assignment fee for ownership in the property right so here's what you could say to her um here's what I'm doing and here's why I'm going to take title but also assign it to somebody else so I I need the contract to be assignable for this reason I'm not going to take an assignment fee I'm going to assign this to an equity partner they're going to own 80% of the property I'm going to own 20% of the property and I'm going to include them by assigning the deal so that so that's that's a really easy thing to say because it makes a lot of sense I could be compensated $10,000 or I could say you know don't give me that 10,000 give me 20% give me 20% equity in the property and that's how I buy my houses if that and then I push back after saying that if that doesn't work for you I'm not sure we're going to be a good fit for you at this time and then what's going to happen is you're gonna say oh I understand we can do that so that that's what I would say that's what I would say um you can find the contract in contracts so if if you're like looking for contracts the best thing to do is type contracts there it is um all right um Hebb we brought you up a while ago but I but it doesn't seem like your mic was connected you have a multif family a couple hundred thousand dollar below your yeah below the list price yeah um I did DM that to you so you can take a look at it so guys um the new courses the new courses are going to be in begin Crea um check them out there um I'm so can you DM that to me I can I can just text you one more time I can DM me one more time and it'll pop up all right done hey is scamming their clients look into that really yeah um look at your so look at your look at at your payout and then look at what you're receiving they told me what' they initially tell you for the percentage one or two like three to five three to 5% this is 15 and a half oh my goodness that's 15 and a half it's not like affiliate no it's it's look at this yeah it says total earnings after deducting processing fees Marketplace fees um Money Paid to Affiliates I don't have there's not that's not I know my Affiliates haven't gotten that's um yeah that's that's like that's bad I I gez I just went to and they're very nice people and I gosh I hope they're I hope they do the right thing or else will'll have to cause problems for them um so that would be unfortunate but um ke let me know y you dm'd it to me yeah it is it is it is it in Birmingham I see a number of properties here right it is it's it's the last one I just sent you okay I I see one on does Court M mean anything to you can you say that one more time Court yeah that's the one geez that's not fun no it's not that that affects you too absolutely yeah um okay so so what is this man um so this one yeah this one's a a 20 unit and it seems like the the owner is having some financial distress so he need to sell and he had it listed at 1.1 and essentially what I did was I gathered as much information as possible on you know the deal to underwrite it and then essentially I told the realtor I said hey look um I'd be getting a dscr loan on this one and it just wouldn't work at the 1.1 million price because I'd be paying about six to 7,000 monthly uh to my lender and the number just wouldn't make sense for me right there and I can see how it doesn't make sense for any other investor that's why you guys been on on the market for so long and I told him um I'd be able to come in at 800 1.1 million down payment $220,000 interest rate 7% you're paying six that that doesn't include taxes and insurance you're probably paying 7500 if more yeah yeah $7,500 and um I'm seeing things here that are scary to me this ceiling is kind of scary to me um the overall condition kind of worries me so I'm think he did mention well well well what does it bring in what does it bring in I should ask so it brings in about 11 to close to 11 12,000 per month and can you hear me yeah I'm sorry I didn't catch that part what does it bring in per month I believe it's somewhere around between 11 and 12,000 per month and 177 units are renovated so only three needs to need to be worked on okay okay that's better um now when you say you believe I really want to be sure about that what what makes you say I believe it's this amount how do we like find out uh that's that's what the realtor texted me and obviously I have it in my Loi that we have to do our due diligence to make sure that that's true and that no more than 25,000 in repairs need to be made or else we have to to renegotiate a deal see if you could get leases I'm going to assume that I have the leases I sent that one to you okay that's cool I'm gonna assume that each property is getting $130 a month in taxes and insurance just based on the price points of these um now if I multiply that that amount which is 2,600 a year by 12 I get $31,000 31200 per year for taxes and insurance so I'm going to take 31200 I've got a payment on this thing of well what do you have it at well you you got a 275 below so what what's the price uh so it's 870 87 got 225 below correct okay so $870,000 so your down payment's going to be like uh like 180 or something no 177 or something 174 I think 174 so the lender or the buyer has to put down 174k at 7% interest he pays $4,000 per month um and that's leave us with 2,600 coming out for taxes and insurance $4,000 per month okay so we're cash flowing $569 per month down payment is$ 174,000 closing cost could be about $99,000 We'll add 9,000 for closing cost but then I'm also going to add renovation I'm going to say $39,000 because I think it needs some rehab here um really low cash on cash um really low cash on cash there wouldn't get qualified um see see if it can bring in more than 11,000 based on when the leases end Etc I it's all month to month leases and they can be raised to about 14,000 which is which would have them at about 725 which is Market rent can okay 725 great yeah I believe that that's not very much money so if we're doing um $144,000 that's 22% um cash on cash um I would go to them and see if you get just a tad lower not because we need to but but because I think it's doable I think there's a I think there's a lot of things we could point at but but yeah only the issue with that is I really tried to squeeze everything out of them and it seems as though the seller is going to lose money on the sale if we go any lower because they wanted the the real to was fighting for me she wanted it to get accepted at 825 and um it just couldn't get accepted I tried 850 they're like look we literally cannot do 850 I think we could shoot our shot man I think it's worth I think it's worth trying I'm having a hard time focusing because there's a really big issue going on in my company right now that doesn't affect any of you guys just affects me I have to go I'm so sorry I really have to handle this but I'm glad we got in the three hour stream here I really just have to handle this problem guys I can I'm having a hard time best of Lu brother I just found out somebody's stealing 20K a month from me um so I I need to handle that um are we breaking ties with them or are we burying them financially we gota we our options I I gotta head out um guys I don't have the wheel this but Keb lock lock that up man lock that up I say what's up for a minute just to I don't know yeah let's plug Harry's programs too make some calls I mean you have a lot more on the line than I do in this situation no it I'm gonna end the stream in a bit but I want to plug all of Harry's platforms here cool um so guys if you're unfamiliar with Harry his his claim to fame is that he's like Tom Cruz's star student um Tom Cru teaches people how to buy houses Section 8 which is a strategy I back constantly I mean I just I just posted a video called saving money is a scam and my solution to saving to not saving your money is put it into Section 8 housing your money's growing you're getting cash flow and you're getting tax right offs and it's a relatively low barrier to entry now Harry teaches that at zero dollar down and I really believe in the model and it's great because we have a mutually benefiting relationship my team are are you guys find the deals and sell them to Harry and Harry's students and vice versa so really really cool Harry where can they find both your community and your Instagram and any other socials you want yeah so Harry goldcore uncore so Harry like h a r r y like Harry Potter gold like the element like my gold watch uncore uncore and that's how you find me on Instagram uh Tik Tok I don't know probably the same I use Instagram more and uh what's really cool is that Sellers from your community can sell to buyers from my community and first of all I've done it three times we just had Ryan on the call today he sold a deal to another member of my community and it looks like he might do it again you'll find buyers in there you'll find buyers it's it's a really interesting it's a really interesting model so guys go check out Harry's Instagram it's right there um and then check out Harry's as well I have to go we'll find out I have to um I have to go put out some fires guys so I'll catch you on the next one um thank you so much for hanging out with me we may have another live stream guest after this um Juan or somebody else um but if not um we will catch you next week and maybe this weekend for my podcast um so guys have an amazing rest of your day good to see I got to go put out fires look Eddie's going live right now so you got another live stream right now Eddie I'll let everybody know in here let me just let everybody know yeah I can't go on for too long but yeah I could just kind of uh sit in until somebody else is is able to up like maybe one or something someone deals happened live today don't miss the all Happ Pat day is that is that happy St Patty's Day everyone yeah all right guys um I catch you later but hey Eddie's going live for you right now he has the answers to your question so I know a lot of you guys like how do I start he's got the answer and then Eddie funnel people towards um call closing with Garrett just in case they need help with their trust deal and then also the the new courses we just dropped in begin creative are are really really power all right talk soon thanks so much Ed see you no worries good luck