1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:55,240 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 15 00:00:55,400 --> 00:00:57,840 Speaker 1: border and families will be protected. 16 00:00:57,920 --> 00:01:03,200 Speaker 2: Sponsored by the United States Department of Homeland Security. 17 00:01:06,720 --> 00:01:08,800 Speaker 3: All right, guys, So a lot of people asks us 18 00:01:08,800 --> 00:01:10,520 Speaker 3: how do they make a podcast? So I'm let you 19 00:01:10,680 --> 00:01:14,840 Speaker 3: on a secret on the easiest, most productive way to 20 00:01:14,959 --> 00:01:17,360 Speaker 3: start a podcast and get it up and running. And 21 00:01:17,400 --> 00:01:20,880 Speaker 3: that is the app called Anchor is free. They have 22 00:01:20,959 --> 00:01:23,120 Speaker 3: all kinds of cool creation tools that allow you to 23 00:01:23,200 --> 00:01:26,040 Speaker 3: record and edit your podcast right from your phone a computer. 24 00:01:26,480 --> 00:01:28,800 Speaker 3: They will distribute your podcast for you to all of 25 00:01:28,840 --> 00:01:33,000 Speaker 3: the major outlets including Spotify, Apple, Google, manymore, and you 26 00:01:33,040 --> 00:01:36,160 Speaker 3: can make money from your podcast with no minimum listenership. 27 00:01:36,400 --> 00:01:39,280 Speaker 3: It's everything you need to make a podcast in one simple, 28 00:01:39,400 --> 00:01:43,120 Speaker 3: easy place. So if you're interested in starting a podcast, 29 00:01:43,480 --> 00:01:47,480 Speaker 3: go download the free Anchor app or go to anchor 30 00:01:47,640 --> 00:01:49,520 Speaker 3: dot fm to get started. 31 00:01:49,600 --> 00:01:50,160 Speaker 4: Let's do it. 32 00:01:55,640 --> 00:02:00,559 Speaker 5: My graduates from my school being forts bad, drop bags, 33 00:02:00,640 --> 00:02:04,920 Speaker 5: drop Mike, drop bag, drop. 34 00:02:13,800 --> 00:02:17,360 Speaker 3: Wholesaling, one on one, right, So it's a couple of 35 00:02:17,360 --> 00:02:21,000 Speaker 3: things that I had looked at and preparing for this interview. 36 00:02:21,680 --> 00:02:25,600 Speaker 3: So when identifying your market, right, So I so you 37 00:02:25,639 --> 00:02:27,760 Speaker 3: even talked about it as far as like your zip 38 00:02:27,800 --> 00:02:32,360 Speaker 3: code that grandulin all right, So I guess for somebody 39 00:02:32,400 --> 00:02:34,760 Speaker 3: that wants to get involved in wholesaling and they're just 40 00:02:34,800 --> 00:02:36,800 Speaker 3: getting started, like how you just got started, you have 41 00:02:36,840 --> 00:02:39,000 Speaker 3: to formulate a game plan before you do anything in life, right, 42 00:02:39,360 --> 00:02:42,160 Speaker 3: So I guess the first game plan is understanding your neighborhood. 43 00:02:42,200 --> 00:02:42,680 Speaker 4: Is that correct? 44 00:02:42,840 --> 00:02:43,080 Speaker 6: Yeah? 45 00:02:43,080 --> 00:02:46,320 Speaker 5: So understanding like your area, your city, and like every 46 00:02:46,320 --> 00:02:50,720 Speaker 5: city has what they call gentrification, right, Like what happens 47 00:02:50,800 --> 00:02:54,480 Speaker 5: is you're you have neighborhoods that are going to transition 48 00:02:54,800 --> 00:02:59,000 Speaker 5: into mid class likeness. That's what gentification is. So that's 49 00:02:59,040 --> 00:03:02,760 Speaker 5: going to happen all the time. Whether you're a part 50 00:03:02,760 --> 00:03:05,280 Speaker 5: of it or not is up to you. So essentially 51 00:03:05,360 --> 00:03:07,640 Speaker 5: what happens is you need to know what part of 52 00:03:07,680 --> 00:03:08,600 Speaker 5: your city. 53 00:03:08,400 --> 00:03:10,480 Speaker 6: Is up and coming. That's all it means. 54 00:03:11,280 --> 00:03:13,560 Speaker 5: And once you find out that part, whether you can 55 00:03:13,560 --> 00:03:15,799 Speaker 5: do visually are driving around because you know your city 56 00:03:15,800 --> 00:03:17,680 Speaker 5: you've been there since you were a kid, or you 57 00:03:17,720 --> 00:03:20,960 Speaker 5: can use technology which we use list source and do 58 00:03:21,040 --> 00:03:22,480 Speaker 5: a free method of finding this. 59 00:03:24,240 --> 00:03:26,200 Speaker 6: You then find what zip codes are hot. And how 60 00:03:26,200 --> 00:03:27,520 Speaker 6: they do it is they say, all right, how. 61 00:03:27,520 --> 00:03:31,400 Speaker 5: Many cash transactions has happened in this county, and then 62 00:03:31,440 --> 00:03:33,640 Speaker 5: we break it down by zip code and then the 63 00:03:33,680 --> 00:03:36,760 Speaker 5: ones that have the most cash transactions that mean somebody's 64 00:03:36,760 --> 00:03:37,840 Speaker 5: buying these properties. 65 00:03:37,520 --> 00:03:40,000 Speaker 3: Follow the money cash transactions, like somebody's buying a home 66 00:03:40,000 --> 00:03:43,119 Speaker 3: and cash cash. Yeah, And so by doing that, you 67 00:03:43,240 --> 00:03:45,880 Speaker 3: know if more people are buying homes in cash, more 68 00:03:45,880 --> 00:03:48,160 Speaker 3: affluent people are moving into the neighborhood. 69 00:03:47,840 --> 00:03:50,200 Speaker 5: Yeah, because what happens is when somebody buys a house 70 00:03:50,240 --> 00:03:52,480 Speaker 5: in cash more than like there's no financing involved, that 71 00:03:52,520 --> 00:03:53,360 Speaker 5: means it needs a flip. 72 00:03:53,920 --> 00:03:56,440 Speaker 6: Right, So, because you can't really buy flip property. 73 00:03:56,120 --> 00:03:58,960 Speaker 5: With bank financing where they won't they won't, they won't, 74 00:03:59,000 --> 00:04:02,240 Speaker 5: and they won't loan you money on something that needs work. 75 00:04:02,800 --> 00:04:04,760 Speaker 5: The bank is never going to take an upside down 76 00:04:04,800 --> 00:04:07,400 Speaker 5: position on anything. So what's what's the app called lip 77 00:04:07,520 --> 00:04:10,200 Speaker 5: sort list list source list source, Yeah, and I have 78 00:04:10,240 --> 00:04:12,720 Speaker 5: a video like it goes more in detail but list 79 00:04:12,800 --> 00:04:14,880 Speaker 5: sources of things that gives you list of anything kind 80 00:04:14,880 --> 00:04:17,880 Speaker 5: of you want about people, right, but you can find 81 00:04:17,880 --> 00:04:20,680 Speaker 5: out the hot properties or the hot zip codes on 82 00:04:20,839 --> 00:04:22,680 Speaker 5: this way we find out how to do once you've 83 00:04:22,680 --> 00:04:23,360 Speaker 5: mastered your area. 84 00:04:23,400 --> 00:04:25,159 Speaker 2: One of the big things that you talk about is 85 00:04:25,240 --> 00:04:28,240 Speaker 2: driving for dollars? Can you talk about that technique and 86 00:04:28,400 --> 00:04:29,520 Speaker 2: the interests of that. 87 00:04:29,520 --> 00:04:31,600 Speaker 5: That's how I got my first deal was driving for dollars. 88 00:04:31,640 --> 00:04:36,640 Speaker 5: And that just basically means you're driving around looking for 89 00:04:37,040 --> 00:04:41,839 Speaker 5: distressed property physically distressed, right, and these are Yeah, it 90 00:04:41,880 --> 00:04:43,280 Speaker 5: could be like your gutters. 91 00:04:42,920 --> 00:04:43,719 Speaker 6: Are hanging down. 92 00:04:43,800 --> 00:04:47,839 Speaker 5: Nope, somebody hasn't cut the grass, The bushes are high, 93 00:04:48,240 --> 00:04:51,040 Speaker 5: old junkie cars in the driveway that have it moved. Now, 94 00:04:51,080 --> 00:04:53,760 Speaker 5: what happens is we see these every day, but your 95 00:04:53,839 --> 00:04:56,960 Speaker 5: mind has already been trained to block these out. I know, 96 00:04:57,000 --> 00:05:00,880 Speaker 5: if you untrained yourself and and and look, actually look, 97 00:05:01,040 --> 00:05:02,000 Speaker 5: you'll see houses as. 98 00:05:02,040 --> 00:05:03,840 Speaker 6: Yo, the house been there for ten years. Ain't nobody 99 00:05:03,880 --> 00:05:04,320 Speaker 6: ever looked at it? 100 00:05:04,320 --> 00:05:06,520 Speaker 2: Because I was really trained to see like, yo, that's 101 00:05:06,560 --> 00:05:07,840 Speaker 2: the nicest house on the block. 102 00:05:07,640 --> 00:05:09,640 Speaker 5: Correct, and you go past the ugliness. It's just the 103 00:05:09,640 --> 00:05:10,640 Speaker 5: way we look. 104 00:05:10,839 --> 00:05:12,680 Speaker 3: I mean even as a kid, I remember being on 105 00:05:12,680 --> 00:05:15,880 Speaker 3: a school bus and you can always tell like the 106 00:05:15,960 --> 00:05:17,880 Speaker 3: house is the worst house on the neighborhood. They never 107 00:05:17,920 --> 00:05:21,279 Speaker 3: cut the grass, they never the paint's always chip. But 108 00:05:21,480 --> 00:05:24,400 Speaker 3: growing up, you just thinking that people don't care about 109 00:05:24,400 --> 00:05:27,800 Speaker 3: their home, thinking that maybe nobody lives there. 110 00:05:28,040 --> 00:05:29,920 Speaker 4: Correct, maybe it's a distressed property. 111 00:05:30,000 --> 00:05:30,360 Speaker 6: Correct. 112 00:05:30,400 --> 00:05:32,800 Speaker 5: So once you find that distressed property, you need to 113 00:05:32,800 --> 00:05:36,880 Speaker 5: find the owner. And so my buddy Dave Lecho created 114 00:05:36,880 --> 00:05:40,280 Speaker 5: a map called deal Machine, which allows you to drive around, 115 00:05:40,800 --> 00:05:43,760 Speaker 5: take a picture of the property, and it pinpoints it 116 00:05:44,240 --> 00:05:46,839 Speaker 5: and it actually will send a postcard to the owner 117 00:05:47,680 --> 00:05:49,440 Speaker 5: asking if they want to sell it on your behalf, 118 00:05:49,720 --> 00:05:52,400 Speaker 5: on your behalf for you called deal machine Yeah, with 119 00:05:53,080 --> 00:05:56,839 Speaker 5: your number on it. Wow, so you can customize this postcard. 120 00:05:57,160 --> 00:06:00,600 Speaker 5: So but that that's like fairly new to achnology. When 121 00:06:00,600 --> 00:06:02,360 Speaker 5: I started, they didn't have that. We had to go 122 00:06:02,440 --> 00:06:06,239 Speaker 5: around taking screenshots of drop pin drops on like Apple 123 00:06:06,279 --> 00:06:08,560 Speaker 5: maps or something like that, and then go back home 124 00:06:08,600 --> 00:06:09,640 Speaker 5: and search who owns it. 125 00:06:10,120 --> 00:06:13,159 Speaker 2: So we got we got the property and were driving 126 00:06:13,279 --> 00:06:15,480 Speaker 2: dollars and then you had something called skip tracing. 127 00:06:15,640 --> 00:06:18,040 Speaker 5: Yeah, so that's important. So skip tracing essentially where that 128 00:06:18,080 --> 00:06:19,720 Speaker 5: word skip tracing came from. So I used to be 129 00:06:19,760 --> 00:06:26,280 Speaker 5: a bounty bounty hunter, bail bondsman. Yeah, like house better 130 00:06:26,279 --> 00:06:31,320 Speaker 5: than Doug TV show, This guy shuts it all. So 131 00:06:31,560 --> 00:06:35,840 Speaker 5: skip tracing means that you're skipping a trade, you're tracing 132 00:06:35,839 --> 00:06:39,200 Speaker 5: a skip. Essentially, what that means is somebody who does 133 00:06:39,279 --> 00:06:41,640 Speaker 5: not go to court is considered a skip and you 134 00:06:41,680 --> 00:06:43,240 Speaker 5: need to trace them down. So that's where the word 135 00:06:43,279 --> 00:06:45,600 Speaker 5: comes from. But now we're not really dealing with that. 136 00:06:45,600 --> 00:06:47,719 Speaker 5: We deal with people that that own houses that we 137 00:06:47,760 --> 00:06:50,600 Speaker 5: can't find them. So essentially what happens is you find 138 00:06:50,600 --> 00:06:53,320 Speaker 5: that house with the tall grass, you take a picture 139 00:06:53,360 --> 00:06:55,200 Speaker 5: of it, you write down the address. You need to 140 00:06:55,240 --> 00:06:58,440 Speaker 5: know who owns it? So you go on the county wreckords. 141 00:06:58,520 --> 00:07:02,880 Speaker 5: Every single property in the America is owned by somebody 142 00:07:03,040 --> 00:07:07,120 Speaker 5: or something, right, So in every county there's a tax 143 00:07:07,200 --> 00:07:10,920 Speaker 5: assessor's website, right, so I can look up town who 144 00:07:11,000 --> 00:07:13,720 Speaker 5: owns any house in America? So you go to that 145 00:07:13,800 --> 00:07:16,640 Speaker 5: county's website. So here I think it'd be Westchester County 146 00:07:16,680 --> 00:07:19,640 Speaker 5: tax assessors, right, and then you would put in the 147 00:07:19,680 --> 00:07:22,040 Speaker 5: address of the property and it'll say, oh, this person 148 00:07:22,080 --> 00:07:24,360 Speaker 5: owns that property. Now I need to get a hold 149 00:07:24,360 --> 00:07:27,160 Speaker 5: of that person. So skip tracing is where you put 150 00:07:27,160 --> 00:07:30,040 Speaker 5: that person's name and mailing address into the system and 151 00:07:30,080 --> 00:07:33,200 Speaker 5: it's going to spit out the numbers that that are 152 00:07:33,360 --> 00:07:35,200 Speaker 5: that this person has. 153 00:07:35,880 --> 00:07:37,680 Speaker 6: Yeah, yeah, wow, what's it called? 154 00:07:37,680 --> 00:07:41,680 Speaker 5: Skip skip trac dot com RII skip dot com r 155 00:07:41,800 --> 00:07:44,920 Speaker 5: E I skipped that's yours. Yeah, So that was part 156 00:07:44,960 --> 00:07:49,280 Speaker 5: of that was part of how I got big big 157 00:07:49,400 --> 00:07:52,600 Speaker 5: because I knew because of my old background of skip 158 00:07:52,680 --> 00:07:55,680 Speaker 5: tracing humans. It's the same thing I got skip trace humans, 159 00:07:55,680 --> 00:07:56,240 Speaker 5: but now I have. 160 00:07:56,200 --> 00:07:57,960 Speaker 4: Their name in or address. Did you get this from 161 00:07:58,040 --> 00:07:58,840 Speaker 4: military training? 162 00:07:59,000 --> 00:08:01,120 Speaker 6: Like No, it was just something that we developed as 163 00:08:01,160 --> 00:08:01,880 Speaker 6: bounty hunters. 164 00:08:02,680 --> 00:08:04,760 Speaker 2: So you flipped it because before you were looking for 165 00:08:04,840 --> 00:08:07,360 Speaker 2: people that you actually had to arrest. Yeah, and flipped 166 00:08:07,360 --> 00:08:09,120 Speaker 2: it into it now I'm looking for the person that 167 00:08:09,200 --> 00:08:09,760 Speaker 2: owns this house. 168 00:08:10,160 --> 00:08:11,720 Speaker 6: I need your number. I'm calling you up. 169 00:08:11,800 --> 00:08:13,880 Speaker 4: That's it went off topic a little bit. When when 170 00:08:13,880 --> 00:08:14,680 Speaker 4: were you a bounty hunter? 171 00:08:16,240 --> 00:08:19,120 Speaker 5: Yeah, you got that. 172 00:08:20,560 --> 00:08:22,520 Speaker 6: I got ten, I got ten. I used to have 173 00:08:22,560 --> 00:08:24,440 Speaker 6: a car lot. I used to have all types of stuff. 174 00:08:24,440 --> 00:08:27,320 Speaker 5: Man, I was a bounty hunter in between while building 175 00:08:27,320 --> 00:08:29,320 Speaker 5: that app and getting in the in the real estate. 176 00:08:29,840 --> 00:08:30,119 Speaker 4: Wow. 177 00:08:30,440 --> 00:08:34,760 Speaker 5: Yeah, it actually traveled into like I'm still licensed. Yeah, 178 00:08:34,760 --> 00:08:40,920 Speaker 5: I'm still licensed bound here because jobs. Yeah, jobs, because 179 00:08:42,559 --> 00:08:45,960 Speaker 5: I had to have I'm still a licensed bounty hunter 180 00:08:46,120 --> 00:08:48,320 Speaker 5: and I'm still licensed bonds because I got access to 181 00:08:48,400 --> 00:08:49,439 Speaker 5: data most people don't get. 182 00:08:49,880 --> 00:08:51,760 Speaker 6: I get the same data in the cops. And you've 183 00:08:51,800 --> 00:08:52,240 Speaker 6: leveraged it. 184 00:08:52,360 --> 00:08:56,400 Speaker 5: Yeah, I leveraged that small you know, license into me. 185 00:08:56,559 --> 00:08:58,480 Speaker 3: Now you know. I like because like a lot of 186 00:08:58,480 --> 00:09:02,240 Speaker 3: our guests have similar stories where they've had troubling times 187 00:09:02,240 --> 00:09:04,000 Speaker 3: and he had to like figure things out. And then 188 00:09:04,040 --> 00:09:05,559 Speaker 3: a lot of our guess have seen someone the stories 189 00:09:05,559 --> 00:09:08,520 Speaker 3: where they they use things in their past to help them, 190 00:09:08,559 --> 00:09:10,760 Speaker 3: Like you ever heard John Henry, Yeah, of course, so 191 00:09:10,840 --> 00:09:12,800 Speaker 3: John Henry shout to John. He was telling you know 192 00:09:12,920 --> 00:09:16,600 Speaker 3: his story. He was a dormant dormant and he came 193 00:09:16,679 --> 00:09:20,200 Speaker 3: up and he started a million dollar cleaning business. But 194 00:09:20,320 --> 00:09:23,160 Speaker 3: his marketing plan was to go to other dormant and 195 00:09:23,240 --> 00:09:25,120 Speaker 3: get them to refer their residence. 196 00:09:25,160 --> 00:09:25,640 Speaker 4: He paid them. 197 00:09:25,679 --> 00:09:27,520 Speaker 3: But long story short, he was saying, like, he can't 198 00:09:27,520 --> 00:09:29,679 Speaker 3: call himself a genius for that because that's what he knew. 199 00:09:30,120 --> 00:09:31,640 Speaker 3: He knew the dormant in the street because he was 200 00:09:31,640 --> 00:09:34,280 Speaker 3: a dormant, like you were a bounty hunter. But it's 201 00:09:34,320 --> 00:09:37,240 Speaker 3: like you knew like I can get people's information from this. 202 00:09:37,679 --> 00:09:40,120 Speaker 3: Now I'm in real estate. How can I co mingle 203 00:09:40,120 --> 00:09:41,360 Speaker 3: this and actually make it all work? 204 00:09:41,559 --> 00:09:44,360 Speaker 5: And that's why your failures are your biggest successes because 205 00:09:44,720 --> 00:09:46,880 Speaker 5: that failure taught made me make millions. 206 00:09:47,840 --> 00:09:49,360 Speaker 6: You know, you just put me on and put me 207 00:09:49,400 --> 00:09:50,360 Speaker 6: in a different category. 208 00:09:50,600 --> 00:09:52,360 Speaker 3: And that's important for people to understand too, because a 209 00:09:52,360 --> 00:09:55,960 Speaker 3: lot of times everybody's doing something and even like your 210 00:09:56,000 --> 00:09:58,240 Speaker 3: path to success might be totally different from what you're 211 00:09:58,280 --> 00:10:01,600 Speaker 3: currently doing, but you could still use what you did 212 00:10:01,640 --> 00:10:05,199 Speaker 3: in the past in some capacity to help your success 213 00:10:05,240 --> 00:10:05,760 Speaker 3: in the future. 214 00:10:06,040 --> 00:10:06,760 Speaker 6: Absolutely, yea. 215 00:10:06,920 --> 00:10:09,000 Speaker 2: So now we go at that, we got the address, 216 00:10:09,360 --> 00:10:12,000 Speaker 2: how do we get the property under contract? 217 00:10:12,040 --> 00:10:13,880 Speaker 5: So you're gonna call a person and you're simply gonna 218 00:10:13,880 --> 00:10:15,319 Speaker 5: have a conversation. A lot of people, there were a 219 00:10:15,320 --> 00:10:18,319 Speaker 5: lot of people fall short. People hate talking to people 220 00:10:18,360 --> 00:10:18,960 Speaker 5: that they don't know. 221 00:10:19,360 --> 00:10:20,160 Speaker 4: Elevator script. 222 00:10:20,360 --> 00:10:22,800 Speaker 5: Yeah you So we've developed a lot of scripts over 223 00:10:22,840 --> 00:10:25,319 Speaker 5: the time. But it's real simple. Immediately, you need to 224 00:10:25,320 --> 00:10:27,920 Speaker 5: identify who you are. Hey, my name is Max. I'm 225 00:10:27,920 --> 00:10:31,240 Speaker 5: a local real estate investor. Right that puts their guards down. 226 00:10:31,320 --> 00:10:34,080 Speaker 5: But if somebody calls you and says, hey, in a 227 00:10:34,080 --> 00:10:36,760 Speaker 5: moment of your time, yeah done, I'm hanging out, you 228 00:10:36,760 --> 00:10:38,640 Speaker 5: ain't even getting past that. Especially in New York. You're 229 00:10:38,640 --> 00:10:40,920 Speaker 5: not getting past that at all. You mightn't get pick 230 00:10:41,000 --> 00:10:44,280 Speaker 5: up banging on you. Yeah, so then somebody's intrigued. Okay, 231 00:10:44,400 --> 00:10:47,360 Speaker 5: you're a real estate investor. I was going to pass 232 00:10:47,360 --> 00:10:49,280 Speaker 5: the property down on one two three Main Street, and 233 00:10:49,320 --> 00:10:50,760 Speaker 5: I think you may own it. I was wondering if 234 00:10:50,800 --> 00:10:52,080 Speaker 5: you were interested in even selling it. 235 00:10:52,120 --> 00:10:53,640 Speaker 6: All. That's simple. 236 00:10:53,679 --> 00:10:56,120 Speaker 5: You're gonna get yes, no, or maybe or you're going 237 00:10:56,240 --> 00:10:58,520 Speaker 5: a lot of f us in between there, right so, 238 00:10:59,400 --> 00:11:00,320 Speaker 5: or you got the wrong number? 239 00:11:00,679 --> 00:11:01,240 Speaker 6: Right? Do you? 240 00:11:01,360 --> 00:11:01,480 Speaker 7: Well? 241 00:11:01,520 --> 00:11:03,520 Speaker 5: Do you know who owns that property. Oh yeah, I 242 00:11:03,520 --> 00:11:06,120 Speaker 5: owned that property. Okay, well great, are you thinking about 243 00:11:06,240 --> 00:11:08,600 Speaker 5: selling it? Well, I got it from my mom and 244 00:11:08,640 --> 00:11:11,040 Speaker 5: I actually live in the city now, and you know, 245 00:11:11,080 --> 00:11:13,880 Speaker 5: I don't It's need some work and I really don't 246 00:11:13,920 --> 00:11:15,160 Speaker 5: have you know, the time. 247 00:11:15,000 --> 00:11:16,680 Speaker 6: And I don't want to keep paying the taxes. 248 00:11:17,640 --> 00:11:20,360 Speaker 5: Okay, Well, I'm a real estate investor actually specialize in 249 00:11:20,400 --> 00:11:22,959 Speaker 5: buying properties like this. Would you be interested in the 250 00:11:23,040 --> 00:11:26,680 Speaker 5: cash offer? Actually I would be, And then that's when 251 00:11:26,679 --> 00:11:29,200 Speaker 5: you start that negotiation. Well great, well what type of 252 00:11:29,240 --> 00:11:31,319 Speaker 5: what number were you looking for? You know, what can 253 00:11:31,360 --> 00:11:32,839 Speaker 5: I give you cash that would just make you walk 254 00:11:32,880 --> 00:11:36,680 Speaker 5: away from it? Then that starts. That's called anchoring, giving 255 00:11:36,720 --> 00:11:39,240 Speaker 5: somebody that making somebody give you a price to anchor 256 00:11:39,280 --> 00:11:39,840 Speaker 5: themselves on. 257 00:11:40,000 --> 00:11:42,320 Speaker 2: And that doesn't happen just in you know a lot 258 00:11:42,320 --> 00:11:44,480 Speaker 2: of people think that can't happen in a fluent neighborhoods. 259 00:11:44,480 --> 00:11:46,800 Speaker 6: But you said, all absolutely, that's what should be looking. 260 00:11:46,920 --> 00:11:50,080 Speaker 5: Yeah, I mean for us in the South, like a 261 00:11:50,080 --> 00:11:53,199 Speaker 5: two hundred and fifty thousand dollars house is a nice neighborhood, right, 262 00:11:53,280 --> 00:11:55,800 Speaker 5: So I own a couple of those right off of 263 00:11:55,840 --> 00:11:59,559 Speaker 5: people that you know, just it happens a lot people 264 00:11:59,600 --> 00:12:02,680 Speaker 5: inherit things that they don't want. I mean not in 265 00:12:02,679 --> 00:12:05,240 Speaker 5: our culture, but there's a lot where people like really 266 00:12:05,559 --> 00:12:06,240 Speaker 5: will inherit. 267 00:12:06,280 --> 00:12:07,480 Speaker 6: A quarter million dollar house. 268 00:12:07,400 --> 00:12:08,880 Speaker 5: Was makers and be like, I live in Denver, I 269 00:12:08,880 --> 00:12:10,839 Speaker 5: don't want to go back to mom's house. I remember 270 00:12:10,920 --> 00:12:12,679 Speaker 5: having Christmas there in ninety three. I don't want to 271 00:12:12,880 --> 00:12:15,360 Speaker 5: trying to I'm not trying to go back. So things 272 00:12:15,400 --> 00:12:18,480 Speaker 5: like that, and then just there's so many different ways 273 00:12:18,520 --> 00:12:20,120 Speaker 5: where people don't want a house. 274 00:12:20,880 --> 00:12:21,600 Speaker 6: It's like a car. 275 00:12:21,880 --> 00:12:24,199 Speaker 3: It's pretty common, Like you said, not in our communities, 276 00:12:24,760 --> 00:12:33,719 Speaker 3: unfortunately never happens. It's pretty common in other communities, and 277 00:12:34,000 --> 00:12:35,160 Speaker 3: you'll be surprised. 278 00:12:34,760 --> 00:12:36,959 Speaker 5: But you know, actually it happens more than we actually 279 00:12:36,960 --> 00:12:39,040 Speaker 5: think of our community. We just don't realize, you know, 280 00:12:39,160 --> 00:12:41,959 Speaker 5: like because it's considered the hood, so you don't want 281 00:12:42,000 --> 00:12:45,560 Speaker 5: grandma's house, and you just let it go for taxing Linquin, 282 00:12:46,080 --> 00:12:47,680 Speaker 5: and then somebody like me comes and buys it for 283 00:12:47,720 --> 00:12:48,480 Speaker 5: ten thousand dollars. 284 00:12:49,040 --> 00:12:50,000 Speaker 6: Yeah. 285 00:12:50,040 --> 00:12:55,600 Speaker 3: So as a wholesaleer, the person you're always offering cash offers, 286 00:12:55,600 --> 00:12:56,800 Speaker 3: it's always have to be casual. 287 00:12:56,640 --> 00:12:58,200 Speaker 6: Yeah, because no bank is going to find a bank. 288 00:12:58,480 --> 00:13:00,480 Speaker 5: Yeah, so you got to go find somebody else that's 289 00:13:00,520 --> 00:13:04,160 Speaker 5: in the business of flipping property. 290 00:13:04,200 --> 00:13:06,479 Speaker 2: So we're telling private or hard money loans. 291 00:13:06,920 --> 00:13:10,560 Speaker 5: Typically, yeah, they can have access to private or hard 292 00:13:10,559 --> 00:13:11,120 Speaker 5: mini loans. 293 00:13:11,320 --> 00:13:12,760 Speaker 6: Private is through relationships. 294 00:13:12,760 --> 00:13:16,520 Speaker 5: Hard money is going to be through your resume essentially, right, 295 00:13:16,840 --> 00:13:19,000 Speaker 5: you know you flip seven houses this year, of course, 296 00:13:19,040 --> 00:13:20,560 Speaker 5: will loan your money because you know what you're doing. 297 00:13:20,679 --> 00:13:22,559 Speaker 5: Private money is based off of yo. I know you 298 00:13:22,679 --> 00:13:24,120 Speaker 5: got some money sitting in your IRA and you want 299 00:13:24,120 --> 00:13:27,640 Speaker 5: to put it to work. But yeah, you want to 300 00:13:27,679 --> 00:13:30,760 Speaker 5: find that person that makes his money through flipping. You know, 301 00:13:30,920 --> 00:13:32,840 Speaker 5: one thing I understand is that people have money, they 302 00:13:32,880 --> 00:13:36,000 Speaker 5: got to spend it, right, So it depends just where 303 00:13:36,000 --> 00:13:37,120 Speaker 5: you at on that food chain. 304 00:13:37,760 --> 00:13:40,000 Speaker 4: And people that have money always want to make more money. 305 00:13:40,400 --> 00:13:41,040 Speaker 6: That's how they live. 306 00:13:41,520 --> 00:13:43,800 Speaker 2: They eye quadron of day life. So we got now, 307 00:13:43,800 --> 00:13:46,400 Speaker 2: we got the contract. Now we got to get to 308 00:13:46,440 --> 00:13:47,240 Speaker 2: the closing. 309 00:13:47,320 --> 00:13:51,280 Speaker 3: Before so I had a question. Sorry, So cold calling, 310 00:13:51,360 --> 00:13:55,280 Speaker 3: this essentially is cold calling when you're people are because 311 00:13:57,160 --> 00:14:00,079 Speaker 3: very few people understand cold calling. Yeah, I've done in 312 00:14:00,160 --> 00:14:02,920 Speaker 3: coke calling before and I don't I don't like it, 313 00:14:05,280 --> 00:14:07,720 Speaker 3: so but I can see how this can stop people 314 00:14:07,720 --> 00:14:10,319 Speaker 3: from actually moving forward, right, this is a big thing. 315 00:14:10,600 --> 00:14:10,920 Speaker 4: It's not. 316 00:14:11,080 --> 00:14:12,640 Speaker 3: If you don't if you've ever done it before, you 317 00:14:12,640 --> 00:14:16,040 Speaker 3: can't fully appreciate. It's like one of the most nerve 318 00:14:16,040 --> 00:14:18,319 Speaker 3: wracking things you can do. Like literally, like you make 319 00:14:18,400 --> 00:14:20,800 Speaker 3: up every excuse in the world not to Coco. Like 320 00:14:20,840 --> 00:14:23,760 Speaker 3: you like walk around the neighborhood, you get lunch and 321 00:14:23,880 --> 00:14:27,720 Speaker 3: you say it's too early, It's it's too late, call tomorrow. 322 00:14:27,760 --> 00:14:31,680 Speaker 3: You make all kinds of excuses. So how do you 323 00:14:32,360 --> 00:14:34,600 Speaker 3: because you have to either that or you're knocking on 324 00:14:34,640 --> 00:14:35,280 Speaker 3: somebody's door. 325 00:14:35,480 --> 00:14:37,960 Speaker 6: Every comm every deal ends on the phone. 326 00:14:38,560 --> 00:14:40,480 Speaker 5: Every single deal you do, whether you like it or not, 327 00:14:40,560 --> 00:14:42,520 Speaker 5: is gonna end up on the phone at some point 328 00:14:42,560 --> 00:14:42,880 Speaker 5: in time. 329 00:14:43,520 --> 00:14:45,600 Speaker 4: To like what do you tell people to like ease 330 00:14:45,640 --> 00:14:46,840 Speaker 4: their nerves to co call. 331 00:14:47,080 --> 00:14:49,320 Speaker 6: One thing we do is we give them scripts. Oh 332 00:14:49,400 --> 00:14:50,280 Speaker 6: they have to make it up. 333 00:14:50,400 --> 00:14:52,160 Speaker 5: Yeah, So I want to give you your scripts and 334 00:14:52,160 --> 00:14:54,960 Speaker 5: then you're going to give you most common rebuttals so 335 00:14:55,000 --> 00:14:56,000 Speaker 5: that you can have an ends. 336 00:14:56,160 --> 00:14:56,320 Speaker 6: Right. 337 00:14:56,360 --> 00:14:58,160 Speaker 5: So, like I like if you go to your if 338 00:14:58,160 --> 00:15:00,120 Speaker 5: you're going to ask your mom and you always what 339 00:15:00,200 --> 00:15:02,160 Speaker 5: she's gonna say, it's more easy for you to ask 340 00:15:02,200 --> 00:15:04,200 Speaker 5: a question because you already got the answer because you 341 00:15:04,200 --> 00:15:06,840 Speaker 5: know her response. So it's the same thing like when 342 00:15:06,840 --> 00:15:09,240 Speaker 5: you go talk to these strangers, these people you don't know, 343 00:15:09,400 --> 00:15:11,840 Speaker 5: you're gonna, You're gonna they got three answers, three or 344 00:15:11,840 --> 00:15:13,840 Speaker 5: four different answers they're gonna give you, and you need 345 00:15:13,880 --> 00:15:15,400 Speaker 5: to be able to rebundle those things. 346 00:15:15,400 --> 00:15:17,280 Speaker 3: You know what got me over my fear of cocon 347 00:15:17,320 --> 00:15:19,920 Speaker 3: in too personally, I still don't throw a lot of cocone, 348 00:15:19,920 --> 00:15:21,480 Speaker 3: but just got me out of my because I had 349 00:15:21,520 --> 00:15:22,480 Speaker 3: I was terrified by it. 350 00:15:22,920 --> 00:15:23,320 Speaker 4: I had this. 351 00:15:23,480 --> 00:15:25,760 Speaker 3: I had to sit down and say, am I going 352 00:15:25,840 --> 00:15:33,160 Speaker 3: to die? If you're not gonna die, it's not that bad. 353 00:15:33,200 --> 00:15:34,600 Speaker 6: Did you make money from go call liver? 354 00:15:35,120 --> 00:15:36,360 Speaker 4: I have? Yeah, I have. 355 00:15:36,560 --> 00:15:38,600 Speaker 3: And at the end of the day, the worst nobody 356 00:15:38,640 --> 00:15:40,480 Speaker 3: they don't know you, and the worst they can say 357 00:15:40,560 --> 00:15:40,800 Speaker 3: is no. 358 00:15:41,120 --> 00:15:43,360 Speaker 6: Or cuts you out. Who cares? We're gonna go to 359 00:15:43,360 --> 00:15:45,920 Speaker 6: the next question. Yes, it's just they don't know you. Yeah, 360 00:15:46,320 --> 00:15:48,320 Speaker 6: just keep going, keep moving. You get cussed out on 361 00:15:48,320 --> 00:15:50,800 Speaker 6: the subway, here, all the time, anywhere, so that normal. 362 00:15:50,840 --> 00:15:51,600 Speaker 6: Don't take it personal. 363 00:15:52,320 --> 00:15:53,840 Speaker 3: It's not gonna kill you. It's not that serious. That's 364 00:15:53,840 --> 00:15:56,320 Speaker 3: how I look at it. So what is the maximum 365 00:15:56,360 --> 00:15:57,160 Speaker 3: allowable offer? 366 00:15:57,520 --> 00:16:00,680 Speaker 5: So the the the m o A is the maximum 367 00:16:00,720 --> 00:16:02,880 Speaker 5: amount of money that you can offer on this property 368 00:16:02,920 --> 00:16:04,880 Speaker 5: and still make a profit. So I'll break it down, 369 00:16:04,920 --> 00:16:07,520 Speaker 5: so like, if a house is worth one hundred thousand 370 00:16:07,520 --> 00:16:11,160 Speaker 5: dollars fixed up right, we did. We found that out 371 00:16:11,200 --> 00:16:14,120 Speaker 5: by doing comparable properties. We've seen that the house down 372 00:16:14,160 --> 00:16:17,760 Speaker 5: the streets sold for one hundred thousand, very similar square footage, 373 00:16:18,040 --> 00:16:20,960 Speaker 5: bedrooms and baths. The house up there sold for ninety eight. 374 00:16:21,280 --> 00:16:23,040 Speaker 5: So now we're in a one hundred thousand dollars range. 375 00:16:23,080 --> 00:16:25,440 Speaker 5: So we know that the flipper is going to fix 376 00:16:25,480 --> 00:16:27,240 Speaker 5: this and sell it for one hundred thousand. So it's 377 00:16:27,280 --> 00:16:28,640 Speaker 5: to sell one hundred thousand dollars. 378 00:16:28,880 --> 00:16:29,440 Speaker 6: Now in my. 379 00:16:29,560 --> 00:16:34,440 Speaker 5: Market, it's lukewarm. It's not like an La or a 380 00:16:34,520 --> 00:16:39,880 Speaker 5: Phoenix or New York where you properties go above. 381 00:16:41,360 --> 00:16:43,600 Speaker 2: This episode is brought to you by P and C Bank. 382 00:16:44,000 --> 00:16:46,760 Speaker 2: A lot of people think podcasts about work are boring, 383 00:16:46,960 --> 00:16:50,800 Speaker 2: and sure they definitely can be, but understanding a professionals 384 00:16:50,880 --> 00:16:54,120 Speaker 2: routine shows us how they achieve their success little by little, 385 00:16:54,520 --> 00:16:58,160 Speaker 2: day after day. It's like banking with P and C Bank. 386 00:16:58,640 --> 00:17:01,440 Speaker 2: It might seem boring the city plan and make calculated 387 00:17:01,480 --> 00:17:04,560 Speaker 2: decisions with your bank, but Keeping your money boring is 388 00:17:04,600 --> 00:17:07,919 Speaker 2: what helps you live or more happily fulfilled life. 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Crypto 419 00:18:51,960 --> 00:18:55,159 Speaker 7: healthro Robinhod Cryptos not FDIC insured or SIPC protect. Investing 420 00:18:55,200 --> 00:18:57,600 Speaker 7: in VOSS risk including loss of principle securities trading is 421 00:18:57,600 --> 00:19:00,639 Speaker 7: offered thro an account with Robinhood Financial LLC Member PC, a 422 00:19:00,680 --> 00:19:01,639 Speaker 7: registered broker dealer. 423 00:19:01,840 --> 00:19:05,520 Speaker 5: Then beyond asking price a bunch right, so we take 424 00:19:05,560 --> 00:19:09,760 Speaker 5: off we minus thirty percent from the actual ARV the 425 00:19:09,880 --> 00:19:11,680 Speaker 5: after repair valuable property. 426 00:19:12,160 --> 00:19:12,320 Speaker 4: Right. 427 00:19:12,400 --> 00:19:14,840 Speaker 5: So now if you did that one hundred thousand minus 428 00:19:14,840 --> 00:19:17,920 Speaker 5: thirty percent, you're at seventy thousand and let's just say 429 00:19:17,960 --> 00:19:19,920 Speaker 5: you walked that house and you went in there, and 430 00:19:19,960 --> 00:19:24,959 Speaker 5: you think it needs twenty thousand dollars twenty five thousand dollars, 431 00:19:25,000 --> 00:19:28,800 Speaker 5: and just say twenty thousand, twenty thousand repairs. So you 432 00:19:28,920 --> 00:19:32,119 Speaker 5: know that this flipper is gonna spend twenty thousand to 433 00:19:32,200 --> 00:19:34,480 Speaker 5: get it to the point where he can actually put 434 00:19:34,480 --> 00:19:36,280 Speaker 5: it on the mark for one hundred, so you're gonna 435 00:19:36,280 --> 00:19:40,480 Speaker 5: deduct that. So we went from one hundred to seventy disrepairs. 436 00:19:40,520 --> 00:19:43,760 Speaker 5: Now we at fifty. So if you actually buy this 437 00:19:43,880 --> 00:19:46,679 Speaker 5: property at fifty thousand dollars right now, it's actually a 438 00:19:46,680 --> 00:19:48,480 Speaker 5: good deal for the flipper. 439 00:19:49,160 --> 00:19:51,560 Speaker 6: But you ain't made no money yet right. 440 00:19:51,440 --> 00:19:53,439 Speaker 4: Assale and those wholesaless you didn't get it right. 441 00:19:53,520 --> 00:19:56,360 Speaker 5: So if the flipper himself knocked on this door, talk 442 00:19:56,440 --> 00:19:58,960 Speaker 5: to him, he'd be able to buy a fifty. But 443 00:19:59,320 --> 00:20:01,199 Speaker 5: you need to make some money, so you need to 444 00:20:01,200 --> 00:20:03,879 Speaker 5: throw a pad or a buffer in there. So you 445 00:20:03,960 --> 00:20:06,119 Speaker 5: need to be offering. If you want to make ten thousand, 446 00:20:06,240 --> 00:20:09,280 Speaker 5: your offer needs your maximum allowable offer needs to be 447 00:20:09,359 --> 00:20:14,040 Speaker 5: forty thousand, right, So now you're gonna sell your contract 448 00:20:14,440 --> 00:20:17,800 Speaker 5: for fifty forty for the forty that they got to 449 00:20:17,800 --> 00:20:20,800 Speaker 5: buy the house ten for your assignment total of fifty. 450 00:20:20,880 --> 00:20:23,440 Speaker 5: Right now we're back where where the flipper is gonna 451 00:20:23,440 --> 00:20:26,320 Speaker 5: make some money. But if you want it at forty, 452 00:20:26,320 --> 00:20:29,040 Speaker 5: you're never going to offer forty. You're gonna offer below that. 453 00:20:29,119 --> 00:20:29,439 Speaker 4: Thirty. 454 00:20:29,760 --> 00:20:32,520 Speaker 5: Yeah, so you do over thirty. So typically fifteen percent 455 00:20:32,560 --> 00:20:34,280 Speaker 5: below what you want is where you want to be at. 456 00:20:34,320 --> 00:20:36,000 Speaker 5: So that you do that, you put you around thirty 457 00:20:36,000 --> 00:20:37,200 Speaker 5: six thirty four thousand. 458 00:20:36,960 --> 00:20:40,040 Speaker 6: Dollars to have the wind built in exactly the wind 459 00:20:40,040 --> 00:20:41,800 Speaker 6: built in, and you never know, they might take thirty. 460 00:20:41,840 --> 00:20:44,320 Speaker 6: You never know, right, you can come up with twenty. 461 00:20:44,480 --> 00:20:49,119 Speaker 3: So let me ask you this because essentially it's like 462 00:20:49,160 --> 00:20:50,760 Speaker 3: a middleman situation, right. 463 00:20:50,880 --> 00:20:53,840 Speaker 6: This whole world's about most richest companies in the world 464 00:20:53,880 --> 00:20:54,399 Speaker 6: are middleman. 465 00:20:55,040 --> 00:21:02,000 Speaker 5: True Amazon, Walmart, True Uber, Airbnb, Airbnb. They don't own anything. 466 00:21:02,040 --> 00:21:07,200 Speaker 5: They're middlemen. Amazon is a logistic company. They make products, 467 00:21:07,240 --> 00:21:09,119 Speaker 5: They house products that other people make. 468 00:21:09,000 --> 00:21:11,880 Speaker 6: And you buy. They have cloud stores. 469 00:21:12,440 --> 00:21:15,200 Speaker 5: Part dealerships. You can't buy a car in America without 470 00:21:15,200 --> 00:21:16,040 Speaker 5: going through a dealership. 471 00:21:16,080 --> 00:21:17,360 Speaker 6: They're middlemen. They don't make the. 472 00:21:17,320 --> 00:21:20,520 Speaker 5: Car, they're middle they're middle men. 473 00:21:20,720 --> 00:21:22,680 Speaker 6: Middle Men make the most money in America. You got 474 00:21:22,680 --> 00:21:24,000 Speaker 6: to solve a problem with convenience. 475 00:21:25,320 --> 00:21:29,879 Speaker 3: True, this is true. So that's true. But so my 476 00:21:30,000 --> 00:21:33,840 Speaker 3: question is a question is all right, but why not? 477 00:21:34,840 --> 00:21:37,119 Speaker 3: Why is it more appealing in your opinion, to be 478 00:21:38,080 --> 00:21:41,080 Speaker 3: on that side of it as opposed to just buying it, 479 00:21:41,160 --> 00:21:43,680 Speaker 3: like just being an investor. Yeah, it's more risk involved, 480 00:21:43,720 --> 00:21:46,440 Speaker 3: being arrested, It's a lot more risk, more money involved. 481 00:21:46,520 --> 00:21:50,719 Speaker 5: More risk and more more risk, more money. But do 482 00:21:50,760 --> 00:21:55,040 Speaker 5: you want a a a fast nickel or a slow dime? 483 00:21:55,480 --> 00:21:58,880 Speaker 5: Depends on your business model. I see, so I see 484 00:21:58,920 --> 00:22:01,560 Speaker 5: this a lot. I see where wholesalers think it's a 485 00:22:01,560 --> 00:22:05,760 Speaker 5: negative connotation to the name and they want to be flippers. 486 00:22:05,800 --> 00:22:08,000 Speaker 5: And then I see flippers looking at wholesalers and wanting 487 00:22:08,000 --> 00:22:09,760 Speaker 5: to be wholesalers because. 488 00:22:09,560 --> 00:22:11,159 Speaker 6: They see the proput margins higher, the. 489 00:22:11,240 --> 00:22:15,439 Speaker 5: Risk versus reward. Now, can Amazon make every single product 490 00:22:15,480 --> 00:22:18,760 Speaker 5: they have in the store? Absolutely? Do they want to 491 00:22:18,760 --> 00:22:21,800 Speaker 5: take that risk of holding inventory that they own for. 492 00:22:21,880 --> 00:22:28,400 Speaker 4: What a fast nickel or a slow down? I like that. 493 00:22:28,480 --> 00:22:31,760 Speaker 2: So if we're doing this, if we're wholesaling as a 494 00:22:31,800 --> 00:22:36,320 Speaker 2: side thing, right, how much did you how many properties 495 00:22:36,320 --> 00:22:37,000 Speaker 2: you think we have. 496 00:22:37,000 --> 00:22:40,240 Speaker 6: To do it before it becomes a full time situation. 497 00:22:41,040 --> 00:22:44,720 Speaker 5: It depends, right, everybody has their free their freedom mark. 498 00:22:45,240 --> 00:22:45,439 Speaker 6: You know. 499 00:22:45,840 --> 00:22:47,600 Speaker 5: I always used to say if I made six figures, 500 00:22:47,600 --> 00:22:51,399 Speaker 5: I'd be great, right, you know that's not you figures, 501 00:22:53,240 --> 00:22:56,280 Speaker 5: so like it's not, it's it just depends where you 502 00:22:56,320 --> 00:22:58,600 Speaker 5: want to be at right now. Some people love their job. 503 00:22:59,080 --> 00:23:02,200 Speaker 5: So I've spoken to school teachers. They love their job, 504 00:23:02,400 --> 00:23:04,719 Speaker 5: they love their passionate about what they do. But if 505 00:23:04,720 --> 00:23:06,679 Speaker 5: they can get one property a month, they make an 506 00:23:06,680 --> 00:23:08,200 Speaker 5: extra ten grand a month. 507 00:23:08,160 --> 00:23:08,960 Speaker 6: That'll start teaching. 508 00:23:09,359 --> 00:23:12,239 Speaker 5: No, they're gonna keep teaching because they just supplement your 509 00:23:12,280 --> 00:23:14,360 Speaker 5: life because it gives you what you want. 510 00:23:14,359 --> 00:23:16,280 Speaker 6: Now, I've had people say that and then actually quit. 511 00:23:16,440 --> 00:23:20,400 Speaker 3: Yeah about that teaching, Yeah, it's not coming to work tomorrow. 512 00:23:20,960 --> 00:23:21,920 Speaker 6: So if it. 513 00:23:21,600 --> 00:23:23,680 Speaker 5: Depends on your lifestyle, where you want where you want 514 00:23:23,680 --> 00:23:25,600 Speaker 5: to be at. For me, I wanted to run a 515 00:23:25,760 --> 00:23:28,639 Speaker 5: multi million dollar company. So we do between like seven 516 00:23:28,680 --> 00:23:29,760 Speaker 5: and twelve deals. 517 00:23:29,480 --> 00:23:30,879 Speaker 6: A month sometimes, okay. 518 00:23:31,160 --> 00:23:33,399 Speaker 5: And you know that's where we're at, and we're not 519 00:23:33,840 --> 00:23:37,240 Speaker 5: We're not the largest. You know, we got guys across 520 00:23:37,240 --> 00:23:38,879 Speaker 5: the country doing way more deals than that. 521 00:23:38,960 --> 00:23:42,480 Speaker 6: But my overhead is pretty thin and we have a 522 00:23:42,520 --> 00:23:44,080 Speaker 6: good lifestyle doing what we do. 523 00:23:44,160 --> 00:23:46,080 Speaker 3: So what would be the obviously depends on the market, 524 00:23:46,160 --> 00:23:49,240 Speaker 3: Like in your market, what's the profit margin on average. 525 00:23:48,960 --> 00:23:49,960 Speaker 6: Deal for your average deals? 526 00:23:50,040 --> 00:23:52,520 Speaker 4: Thirteen three thirteen three hundred. 527 00:23:52,600 --> 00:23:54,360 Speaker 6: Yeah, we track our KPIs pretty well. 528 00:23:54,480 --> 00:23:55,120 Speaker 4: What's KPI? 529 00:23:55,359 --> 00:23:59,880 Speaker 5: That mean Key performance indicators? So you're you're your need 530 00:23:59,920 --> 00:24:03,280 Speaker 5: to know. I need to know how much money I'm 531 00:24:03,359 --> 00:24:04,600 Speaker 5: spending to get a deal? 532 00:24:05,200 --> 00:24:08,119 Speaker 6: Right? How many calls do I need to make to 533 00:24:08,160 --> 00:24:09,399 Speaker 6: get a yes? Right? 534 00:24:09,440 --> 00:24:11,360 Speaker 5: And then did you start to get an average how 535 00:24:11,440 --> 00:24:14,600 Speaker 5: much money do I spend on this marketing effort before 536 00:24:14,600 --> 00:24:18,000 Speaker 5: it turns into an appointment? How many appointments do I 537 00:24:18,080 --> 00:24:20,880 Speaker 5: go on before it turns into a contract. And if 538 00:24:20,880 --> 00:24:22,960 Speaker 5: you know your numbers and your business, and this is 539 00:24:23,000 --> 00:24:25,320 Speaker 5: any business, then you scale. 540 00:24:26,280 --> 00:24:29,400 Speaker 3: So you're doing thirteen one thousand a deal, you're doing 541 00:24:29,440 --> 00:24:30,280 Speaker 3: thirteen of those a. 542 00:24:30,200 --> 00:24:31,200 Speaker 6: Month, so it's like one hundred. 543 00:24:31,280 --> 00:24:34,680 Speaker 5: Well, our top ends twelve, right between seven and twelve 544 00:24:34,760 --> 00:24:36,959 Speaker 5: deals a month, so we're average around like ten. 545 00:24:37,040 --> 00:24:38,840 Speaker 2: Let's say if you do test, you're talking about one 546 00:24:38,880 --> 00:24:40,840 Speaker 2: hundred a month. 547 00:24:40,920 --> 00:24:41,240 Speaker 6: A month. 548 00:24:41,320 --> 00:24:44,240 Speaker 4: Yeah, good calendar, yeah a good month. 549 00:24:44,440 --> 00:24:44,720 Speaker 6: Yeah. 550 00:24:44,800 --> 00:24:47,920 Speaker 4: Okay, So what is assignments? Now you have to catch 551 00:24:47,960 --> 00:24:49,240 Speaker 4: buy you have assignment. 552 00:24:49,480 --> 00:24:54,240 Speaker 5: Assignment is Essentially, you have that original contract with the seller, 553 00:24:54,680 --> 00:24:59,040 Speaker 5: and you're going to sign your contract to that person. 554 00:24:59,080 --> 00:25:01,480 Speaker 5: So let me give you an example. So let's just 555 00:25:01,520 --> 00:25:04,840 Speaker 5: say you pull up. We're sitting over at the bodega. 556 00:25:04,960 --> 00:25:08,000 Speaker 5: I'm in New York, can use those words, sit at odega. 557 00:25:08,080 --> 00:25:11,080 Speaker 5: You pull up, and you be like, Yo, Max, I'm 558 00:25:11,119 --> 00:25:12,960 Speaker 5: out of here, bro, I'm going to Living Vegas. 559 00:25:13,280 --> 00:25:15,320 Speaker 6: You know, I just got this new Mercedes right here. 560 00:25:15,920 --> 00:25:16,480 Speaker 6: I don't want it. 561 00:25:16,520 --> 00:25:18,760 Speaker 5: I paid cash for it. I paid one hundred thousand 562 00:25:18,840 --> 00:25:21,200 Speaker 5: for it. I got it two years ago. Yo, give 563 00:25:21,240 --> 00:25:23,359 Speaker 5: me forty five thousand cash. You can have this. 564 00:25:23,640 --> 00:25:26,560 Speaker 6: That's a brand new S five fifty. Take that right. 565 00:25:26,920 --> 00:25:30,359 Speaker 6: So do I have the money sitting at the bodega? Nah? 566 00:25:30,800 --> 00:25:33,200 Speaker 5: But I know my man down here gotta use car dealership. 567 00:25:33,440 --> 00:25:35,520 Speaker 5: So I said, all right, meet me back here Friday 568 00:25:35,600 --> 00:25:37,719 Speaker 5: with the money. I'm gonna have the money for you. 569 00:25:37,840 --> 00:25:41,160 Speaker 5: It's Monday, so I ain't got the money, but I'm 570 00:25:41,160 --> 00:25:42,760 Speaker 5: gonna go get it right. 571 00:25:42,640 --> 00:25:43,919 Speaker 6: Because it's important. 572 00:25:44,080 --> 00:25:46,720 Speaker 5: So I'm gonna go hit you up and say, Yo, 573 00:25:46,760 --> 00:25:48,879 Speaker 5: you know I got a two thousand and eighteen S 574 00:25:48,960 --> 00:25:53,720 Speaker 5: five fifty for fifty thousand dollars for Friday. But you 575 00:25:53,760 --> 00:25:56,320 Speaker 5: gotta buy it Friday. My man said, cool, I'll bring 576 00:25:56,359 --> 00:25:58,400 Speaker 5: you the money Friday, all right, meet me at the bodega. 577 00:25:59,080 --> 00:26:01,199 Speaker 5: You meet me at the bog They with fifty You 578 00:26:01,280 --> 00:26:02,920 Speaker 5: said you wanted forty forty five. 579 00:26:03,280 --> 00:26:05,040 Speaker 6: I may hand you the money. You're gonna hand me 580 00:26:05,080 --> 00:26:07,520 Speaker 6: the key. I may hand you the keys you're gonna 581 00:26:07,560 --> 00:26:07,760 Speaker 6: give me. 582 00:26:08,080 --> 00:26:10,720 Speaker 5: I got the middle part. You go sell it because 583 00:26:10,720 --> 00:26:14,520 Speaker 5: that's your job. Your business is selling cars. You wash 584 00:26:14,600 --> 00:26:17,240 Speaker 5: it up, you clean it, put some tire set on it, 585 00:26:17,320 --> 00:26:19,399 Speaker 5: stick it on the car, lote for seventy five thousand. 586 00:26:19,440 --> 00:26:22,399 Speaker 6: It's still a deal. And you may five thousand. 587 00:26:22,600 --> 00:26:24,600 Speaker 5: I made five thousand you on a plane in Vegas 588 00:26:24,640 --> 00:26:25,560 Speaker 5: cause you just sick and. 589 00:26:25,480 --> 00:26:26,520 Speaker 6: Tied of New York life. 590 00:26:26,720 --> 00:26:29,280 Speaker 5: And you just supplementing your business. You just made a 591 00:26:29,320 --> 00:26:33,600 Speaker 5: profit by investing your money. So so I signed my 592 00:26:33,760 --> 00:26:36,720 Speaker 5: contract to him that I had with you. Now, when 593 00:26:36,720 --> 00:26:40,359 Speaker 5: I signed that contract with you for Friday, between Monday 594 00:26:40,359 --> 00:26:41,800 Speaker 5: and Friday, what can you do with that car? 595 00:26:42,720 --> 00:26:43,840 Speaker 6: So it says nothing. 596 00:26:43,960 --> 00:26:45,359 Speaker 5: You couldn't sell it because if you sold it, I 597 00:26:45,400 --> 00:26:49,280 Speaker 5: would assued you for pacific performance of a contract. 598 00:26:50,280 --> 00:26:51,000 Speaker 6: So you couldn't. 599 00:26:51,040 --> 00:26:54,160 Speaker 5: You already said to me, Yo, all right, Friday, I'm 600 00:26:54,160 --> 00:26:56,919 Speaker 5: gonna I wrote a contract. You're gonna You're gonna give 601 00:26:56,960 --> 00:26:59,240 Speaker 5: me that car on Friday, and I'm gonna pay you 602 00:26:59,280 --> 00:26:59,840 Speaker 5: the X amount. 603 00:27:00,080 --> 00:27:01,800 Speaker 6: Now, But do you keep an attorney with you? Oh? 604 00:27:01,840 --> 00:27:03,440 Speaker 6: You just write in these contracts? How does this work? 605 00:27:03,640 --> 00:27:05,800 Speaker 5: Once you have a standard template contract, you have it. 606 00:27:06,119 --> 00:27:07,919 Speaker 5: But this is real estate, like you, nobody's gonna run 607 00:27:07,960 --> 00:27:11,119 Speaker 5: off with the house, right but people know that you 608 00:27:11,119 --> 00:27:12,400 Speaker 5: know you made an agreement. 609 00:27:12,520 --> 00:27:14,640 Speaker 6: And here's here's what happens. 610 00:27:14,600 --> 00:27:16,919 Speaker 5: When you when you put up with that car and 611 00:27:16,960 --> 00:27:19,040 Speaker 5: we signed that contract. This is one part I did forget. 612 00:27:20,200 --> 00:27:25,199 Speaker 5: We have what they call a I gave you consideration 613 00:27:26,160 --> 00:27:29,120 Speaker 5: on that contract, which means money. So when we sign 614 00:27:29,200 --> 00:27:31,440 Speaker 5: that contract, I was like, Yo, here go one hundred dollars. 615 00:27:31,440 --> 00:27:33,359 Speaker 5: Hold on to that, and now I'm gonna get you 616 00:27:33,400 --> 00:27:36,000 Speaker 5: the rest of the money Friday. So now you accepted 617 00:27:36,000 --> 00:27:39,320 Speaker 5: this hundred bucks on this contract. Now mean you in 618 00:27:39,400 --> 00:27:45,000 Speaker 5: a valid contract with actual consideration right now. Typically on 619 00:27:45,040 --> 00:27:47,000 Speaker 5: real estate contracts, you have what you call a. 620 00:27:46,960 --> 00:27:49,720 Speaker 6: Due dillage period. 621 00:27:48,960 --> 00:27:51,520 Speaker 5: And usually at one hundred dollars in my market will 622 00:27:51,520 --> 00:27:54,040 Speaker 5: buy you ten days. So I know from the day 623 00:27:54,080 --> 00:27:56,560 Speaker 5: I signed the contract with you on your house. I 624 00:27:56,600 --> 00:27:58,520 Speaker 5: got ten days to go out and find a buyer. 625 00:27:59,320 --> 00:28:01,240 Speaker 5: If I can't find a buyer by the seventh, I'm 626 00:28:01,240 --> 00:28:03,200 Speaker 5: a no in twenty four hours because I'm gonna shot 627 00:28:03,200 --> 00:28:05,680 Speaker 5: the property out. If I can't find a buyer's I'm 628 00:28:05,680 --> 00:28:08,840 Speaker 5: gonna call you up. Hey, man, you know I miss 629 00:28:08,920 --> 00:28:12,320 Speaker 5: something on that house. Either we're gonna renegotiate or we 630 00:28:12,400 --> 00:28:14,720 Speaker 5: are going to just cancel the contract. 631 00:28:14,760 --> 00:28:15,720 Speaker 6: How do you find a buyer? 632 00:28:15,800 --> 00:28:19,520 Speaker 5: Well, they sharks, they have to spend money. 633 00:28:19,160 --> 00:28:23,119 Speaker 3: I was just thought about something, so correct me if 634 00:28:23,160 --> 00:28:25,360 Speaker 3: I'm wrong. But all business is kind of the same. 635 00:28:25,880 --> 00:28:30,240 Speaker 3: So these kind of business principles are very relatable. So 636 00:28:30,600 --> 00:28:33,840 Speaker 3: this is how I'm understanding it from my thirty minute 637 00:28:33,920 --> 00:28:37,239 Speaker 3: education so far, the easiest way to go was to 638 00:28:37,280 --> 00:28:39,920 Speaker 3: be there's people that buy home. There's real estate investors, right, 639 00:28:39,960 --> 00:28:44,920 Speaker 3: that's the job. But they may not necessarily have time 640 00:28:45,040 --> 00:28:47,120 Speaker 3: or they don't want to knock on doors and cold 641 00:28:47,160 --> 00:28:51,760 Speaker 3: co and all that. So now you as essentially the 642 00:28:51,800 --> 00:28:55,240 Speaker 3: broker in this situation. You're doing that work that they 643 00:28:55,240 --> 00:28:57,080 Speaker 3: don't want to do. But they kind of need you 644 00:28:57,120 --> 00:29:00,240 Speaker 3: and you need them. So you establish relationships with big 645 00:29:00,240 --> 00:29:03,440 Speaker 3: time real estate investors in the neighborhood. You call them 646 00:29:03,440 --> 00:29:06,280 Speaker 3: with deals. Look, I got this property, Da dada. You 647 00:29:06,360 --> 00:29:09,280 Speaker 3: establish your relationships with them, and they kind of become 648 00:29:09,360 --> 00:29:13,360 Speaker 3: reoccurring clients. It makes your job easier because now you're 649 00:29:13,360 --> 00:29:16,440 Speaker 3: not just winging it trying to just find random people. 650 00:29:16,920 --> 00:29:19,880 Speaker 3: You develop strong relationships. It makes their job easier because 651 00:29:19,880 --> 00:29:21,960 Speaker 3: they're not just winging it trying to find random properties. 652 00:29:21,960 --> 00:29:26,360 Speaker 3: They trust you because they know that you've established good 653 00:29:26,400 --> 00:29:29,040 Speaker 3: relationships and you know good properties, you know good price in. 654 00:29:30,200 --> 00:29:33,480 Speaker 5: You've got correct Yeah, you bringing a consistent product. They 655 00:29:33,600 --> 00:29:36,040 Speaker 5: need to spend money. That's how they make their money. 656 00:29:36,320 --> 00:29:38,480 Speaker 5: They decided to be on that side of the equation. 657 00:29:39,280 --> 00:29:41,600 Speaker 5: They don't want to go And that's why this business 658 00:29:41,600 --> 00:29:44,360 Speaker 5: takes no money because all it takes is hustle. It 659 00:29:44,360 --> 00:29:46,480 Speaker 5: ain't cost you nothing to go knock on that door, 660 00:29:46,520 --> 00:29:49,760 Speaker 5: ride down the street. But once you have that house, 661 00:29:50,360 --> 00:29:52,440 Speaker 5: now you need to be in the relationships where you 662 00:29:52,480 --> 00:29:55,120 Speaker 5: find people that when. 663 00:29:54,960 --> 00:29:58,200 Speaker 2: You started, Yeah, how did you develop the relationship to 664 00:29:58,200 --> 00:29:58,680 Speaker 2: get a buyers? 665 00:29:58,840 --> 00:30:01,240 Speaker 6: I put it on Facebook market Place that was it. 666 00:30:01,320 --> 00:30:03,960 Speaker 5: Yeah, And the guy called his wife called me, and 667 00:30:04,000 --> 00:30:06,720 Speaker 5: then that weekend he agreed to buy it. 668 00:30:07,200 --> 00:30:09,600 Speaker 3: So do you have like a team of investors and 669 00:30:09,720 --> 00:30:11,640 Speaker 3: enabled in your area now that you kind of like 670 00:30:11,720 --> 00:30:13,080 Speaker 3: work with on a continuous basis. 671 00:30:13,120 --> 00:30:14,840 Speaker 6: I'm six hundred, six hundred. 672 00:30:15,040 --> 00:30:16,760 Speaker 4: So how do you like email blasted out? 673 00:30:16,760 --> 00:30:18,840 Speaker 5: To be email blast and text blasts? So we use 674 00:30:18,880 --> 00:30:20,880 Speaker 5: mail Chimp to send out emails and we sell this 675 00:30:21,240 --> 00:30:23,680 Speaker 5: send out. We use call loop dot com to send 676 00:30:23,720 --> 00:30:25,000 Speaker 5: out a blast text message? 677 00:30:25,000 --> 00:30:27,640 Speaker 6: Are they like fighting over the deals sometimes? Oh? Yeah, 678 00:30:27,680 --> 00:30:29,720 Speaker 6: that's what you want. I'm frizzy. So you don't want 679 00:30:29,720 --> 00:30:32,200 Speaker 6: to come buddy buddy with no investor. No, it can't 680 00:30:32,240 --> 00:30:33,880 Speaker 6: be too close because I'm in a marketplace. 681 00:30:33,960 --> 00:30:34,680 Speaker 4: Business is business. 682 00:30:34,800 --> 00:30:37,120 Speaker 5: Yeah, so you say you're going to give me fifty 683 00:30:37,120 --> 00:30:41,880 Speaker 5: but you say fifty two. That's where I'm going. Everybody 684 00:30:41,880 --> 00:30:42,280 Speaker 5: gotta eat. 685 00:30:43,000 --> 00:30:45,200 Speaker 6: I got to eat all facts. 686 00:30:45,240 --> 00:30:47,840 Speaker 4: This is dope. This is actually pretty dope. I got 687 00:30:47,920 --> 00:30:48,760 Speaker 4: actually pretty dope. 688 00:30:49,160 --> 00:30:50,480 Speaker 6: Now for the clothes. I got a question. 689 00:30:50,600 --> 00:30:54,160 Speaker 2: I saw this in one of your is a double closing? 690 00:30:54,200 --> 00:30:56,520 Speaker 2: I've never heard that before. What is a double closing? 691 00:30:57,040 --> 00:31:02,680 Speaker 5: So essentially, people that are now not good with setting expectations. 692 00:31:02,840 --> 00:31:04,840 Speaker 5: I like to say with the buyer or seller, with 693 00:31:04,920 --> 00:31:07,760 Speaker 5: your client, they don't know that you are going to 694 00:31:07,800 --> 00:31:11,360 Speaker 5: make profit from this deal, or sometimes the profit is 695 00:31:11,400 --> 00:31:11,880 Speaker 5: too much. 696 00:31:12,040 --> 00:31:14,200 Speaker 6: Now we'll say not all the time. Sometimes the profit 697 00:31:14,240 --> 00:31:14,880 Speaker 6: is just too much. 698 00:31:15,080 --> 00:31:18,040 Speaker 5: So a double close is where you said, just to 699 00:31:18,080 --> 00:31:20,320 Speaker 5: say that house down the street we're talking about instead 700 00:31:20,320 --> 00:31:23,360 Speaker 5: of thirty, you got it for ten thousand, right, and. 701 00:31:23,320 --> 00:31:24,680 Speaker 6: Now you're selling it to the end. 702 00:31:25,240 --> 00:31:28,160 Speaker 5: Now you're selling it to the flipper for fifty thousand, 703 00:31:28,200 --> 00:31:31,760 Speaker 5: so you're making a forty thousand spread. And sometimes if 704 00:31:31,760 --> 00:31:33,680 Speaker 5: you don't have the right buyers, they may be like, 705 00:31:33,720 --> 00:31:37,080 Speaker 5: I'm not paying you fifty thousand. You got it for ten, right, 706 00:31:37,280 --> 00:31:39,200 Speaker 5: But the numbers really work for him, but he not 707 00:31:39,280 --> 00:31:43,080 Speaker 5: giving you that. So sometimes you go ahead and use 708 00:31:43,160 --> 00:31:47,560 Speaker 5: transactional funding to close on that first ten thousand and 709 00:31:47,600 --> 00:31:49,720 Speaker 5: then turn around the next minute and sell it to 710 00:31:49,760 --> 00:31:52,360 Speaker 5: my guy over here. But what happens is on a hudsheet, 711 00:31:52,400 --> 00:31:55,240 Speaker 5: which is a sheet that everybody has to use. It 712 00:31:55,280 --> 00:31:57,720 Speaker 5: close the property, it's gonna say what you bought it for. 713 00:31:58,280 --> 00:32:00,680 Speaker 5: But if you do a double close, he's never going 714 00:32:00,760 --> 00:32:03,800 Speaker 5: to see that side of the transaction. So it's something 715 00:32:03,800 --> 00:32:06,800 Speaker 5: that I tell people never really I've never done one, right, 716 00:32:06,880 --> 00:32:10,080 Speaker 5: So it's not really needed, especially if you just got 717 00:32:10,120 --> 00:32:12,560 Speaker 5: to set a good expectation if you have good cash buyers. 718 00:32:12,640 --> 00:32:14,400 Speaker 5: And this is one of my things I say to 719 00:32:14,480 --> 00:32:16,960 Speaker 5: cash buyers, if I find a property for a dollar 720 00:32:17,400 --> 00:32:19,400 Speaker 5: and the numbers work for you at one hundred thousand, 721 00:32:19,400 --> 00:32:19,720 Speaker 5: would you. 722 00:32:19,760 --> 00:32:22,200 Speaker 6: Be upset with me making a ninety nine thousand dollar fee? 723 00:32:22,480 --> 00:32:24,480 Speaker 6: If they say yes, kick him out. 724 00:32:24,880 --> 00:32:27,720 Speaker 5: Because when you change your mindset, you realize money is 725 00:32:27,720 --> 00:32:30,600 Speaker 5: not a limited thing. When I started to think that 726 00:32:30,760 --> 00:32:33,560 Speaker 5: I had to get these properties because you know, you 727 00:32:33,680 --> 00:32:37,080 Speaker 5: got money, when I changed it and said, there's guys 728 00:32:37,080 --> 00:32:39,600 Speaker 5: out here that if they don't flip houses, they don't eat, 729 00:32:40,120 --> 00:32:44,160 Speaker 5: they need me, you know, so I no longer look 730 00:32:44,200 --> 00:32:46,440 Speaker 5: at some money as a limited commodity. 731 00:32:48,080 --> 00:32:50,560 Speaker 4: Attorney state versus title state, what's the difference with that? 732 00:32:51,560 --> 00:32:55,479 Speaker 5: Let me see, New York is an attorney state and 733 00:32:55,560 --> 00:32:59,239 Speaker 5: North Carolina's an attorney state. So in states, you have 734 00:32:59,320 --> 00:33:02,880 Speaker 5: two ways you can close the real estate transaction. Title companies, 735 00:33:03,120 --> 00:33:05,440 Speaker 5: which essentially due to title research and look up the 736 00:33:05,480 --> 00:33:07,520 Speaker 5: property and make sure it's free and clear, are called 737 00:33:07,560 --> 00:33:11,040 Speaker 5: title states their actual companies. And then you have attorney states, 738 00:33:11,080 --> 00:33:14,240 Speaker 5: where only attorneys are allowed to close real estate transactions. 739 00:33:14,280 --> 00:33:16,880 Speaker 5: And North Carolina and New York is an attorney state. 740 00:33:17,760 --> 00:33:21,960 Speaker 5: I believe Philly is a title company state. In Baltimore 741 00:33:22,080 --> 00:33:22,800 Speaker 5: is a Baltimore. 742 00:33:23,320 --> 00:33:26,000 Speaker 2: What's the process of setting up a closing with the 743 00:33:26,040 --> 00:33:26,680 Speaker 2: title company. 744 00:33:26,760 --> 00:33:29,719 Speaker 5: Yeah, so, once you get that first contract with the homeowner, 745 00:33:30,200 --> 00:33:34,080 Speaker 5: you're gonna send the contract to the title company or 746 00:33:34,120 --> 00:33:38,520 Speaker 5: attorney and tell them to start title search. And all 747 00:33:38,560 --> 00:33:41,040 Speaker 5: title search does is to make sure the property is 748 00:33:41,200 --> 00:33:44,600 Speaker 5: owned free and clear, no lians on cumbers is on 749 00:33:44,640 --> 00:33:49,600 Speaker 5: the property, and that it can be transferred smoothly to 750 00:33:49,680 --> 00:33:52,480 Speaker 5: the new owner. And then once they do that, then 751 00:33:52,600 --> 00:33:55,160 Speaker 5: once you have that paperwork and you're out finding your buyer, 752 00:33:55,440 --> 00:33:56,960 Speaker 5: and then you call them and say, hey, look, I 753 00:33:56,960 --> 00:33:59,480 Speaker 5: have an assignment of that contract I gave you, And 754 00:33:59,480 --> 00:34:01,200 Speaker 5: all they're going to do is switch your name with 755 00:34:01,280 --> 00:34:03,880 Speaker 5: the new buyer's name, and your fee is written on 756 00:34:03,920 --> 00:34:06,480 Speaker 5: that contract. And at the closing you're gonna get your money, 757 00:34:06,920 --> 00:34:09,000 Speaker 5: and then the sellers are gonna get their money and 758 00:34:09,000 --> 00:34:10,800 Speaker 5: the buyers are gonna walk away with the property. 759 00:34:10,880 --> 00:34:13,640 Speaker 4: And the contract depends on each date, it's different. 760 00:34:14,440 --> 00:34:16,399 Speaker 6: Yeah, yeah, typically it's just different. Easy. 761 00:34:16,840 --> 00:34:18,080 Speaker 4: Once you have on it's like a template that. 762 00:34:18,120 --> 00:34:19,399 Speaker 6: Yeah, you keep filling it out. 763 00:34:20,320 --> 00:34:26,200 Speaker 5: Yeah, my graduates from my school being force. 764 00:34:26,200 --> 00:34:31,160 Speaker 4: Back, drop Bag Drop, Mike, drop Bag, drop Drop. 765 00:34:45,360 --> 00:34:48,439 Speaker 5: Hey everyone, this is Tatiana Manning post of Real Talk 766 00:34:48,480 --> 00:34:49,040 Speaker 5: with PGEN. 767 00:34:49,800 --> 00:34:52,440 Speaker 3: We know small businesses are dealing with rising costs and 768 00:34:52,480 --> 00:34:55,040 Speaker 3: looking for ways to boost their bottom line. That's why 769 00:34:55,040 --> 00:34:57,720 Speaker 3: we're doing the show to help customers save with simple 770 00:34:57,760 --> 00:35:00,080 Speaker 3: and easy to do steps like making sure that they 771 00:35:00,080 --> 00:35:02,799 Speaker 3: are on the most optimal rate for their business. So 772 00:35:02,920 --> 00:35:05,839 Speaker 3: check us out on pg dot com, Ford Slash, Real Talk, 773 00:35:06,040 --> 00:35:07,560 Speaker 3: and all other streaming platforms.