The Titanium Vault hosted by RJ Bates III

Uncle Karl's Crazy A$$ Real Estate Stories: Part 1

February 21, 2020 Karl Spielvogel Episode 113
The Titanium Vault hosted by RJ Bates III
Uncle Karl's Crazy A$$ Real Estate Stories: Part 1
Chapters
The Titanium Vault hosted by RJ Bates III
Uncle Karl's Crazy A$$ Real Estate Stories: Part 1
Feb 21, 2020 Episode 113
Karl Spielvogel

Karl Spielvogel is a real estate investor based out of Charlotte, North Carolina that specializes in real estate deals with missing heirs, title issues and solving any type of problem. In this special episode, he shares some of the craziest deals he has done recently including finding owners in jail, tracking down a seller that lives in a van and creating a variance for a massive payday! Remember, if you love the format of these episodes we don't know unless you leave us a 5 star review and click that subscribe button!

For the best Skip Tracing in the industry go to https://titaniumtrace.com/home

To join the #1 Online Real Estate Mastermind visit https://nextlevelflipping.com/

For more video content from Titanium Investments subscribe at http://www.youtube.com/c/RJBatesIII

Connect with Titanium Investments at https://www.facebook.com/titaniuminvestments/

Show Notes Transcript

Karl Spielvogel is a real estate investor based out of Charlotte, North Carolina that specializes in real estate deals with missing heirs, title issues and solving any type of problem. In this special episode, he shares some of the craziest deals he has done recently including finding owners in jail, tracking down a seller that lives in a van and creating a variance for a massive payday! Remember, if you love the format of these episodes we don't know unless you leave us a 5 star review and click that subscribe button!

For the best Skip Tracing in the industry go to https://titaniumtrace.com/home

To join the #1 Online Real Estate Mastermind visit https://nextlevelflipping.com/

For more video content from Titanium Investments subscribe at http://www.youtube.com/c/RJBatesIII

Connect with Titanium Investments at https://www.facebook.com/titaniuminvestments/

spk_0:   0:01
It's not real estate investors, entrepreneurs and agents. You're in the right place. Unlocking the secrets to real estate investing in entrepreneurship. Welcome to the Times Young vaults hosted by R. J. Bates The third years. What is going on? Titanium vault. This is your host, R. J. Bates. Today I'm sitting down my good buddy, Uncle Carl. How you doing, man? Doing great. Doing great. So this is gonna be our first rendition of Uncle Carl's crazy ass real estate stories. So if you don't know who Carl is, I interviewed him. Probably about 67 months ago. So you wouldn't know who he is. Go back and watched that first episode today. We're just gonna talk about some of the crazy stuff that he's doing. Super niche strategies. So, Carl, take it away. Let's hear your first story. What's the What's the craziest one you you've been working on the past couple of months?

spk_1:   1:03
I get a new one. I've been It's a property that the city just rezoned so you could build a six story building there. It's alive that I want to get. I've been searching for two years to try to get this deal and I've been talking to. What happened is there's three people, indeed, a father and then two kids, two day, two sons. So I gotta hold the one son and I've been talking to him for a while and he goes, I don't know where my brother is. I don't know. My father is So I was like, Okay, so we finally went on Facebook and tracked down the one brother and he's in jail, of course. Like so I write him in jail and he puts me in the visitations. I go see him in jail and I talked to him and said, We're going back and forth. We negotiated deal to buy the property for 75,000 and I'm like, OK, great. I got him. I got his brother and I'm like I was talking. I can't say his name. Let's just say it's Billy Bob. Hey, Billy Bob, we need your father. I can't find him anywhere. I've been looking for him for two years. This is Col. Go to end a Donna Street. There's a van tap on the window. He lives in the van. Well, turns out Donna Stree is 200 yards from where I live. So this guy I've been searching for for all this time is living in a van 200 yards from my house. It's what I live on Sweet Briar Street and is right, right across Sugars, Sugar Creek. 200 yards, you know, and that's where the guys live in. So, um, you know, I recently bought a Rolls Royce. Seemed so So I pull up at 10 o'clock at night in my Rolls Royce tap on the window, and I said, Are you Oh, Donald, he says, Yeah, I said, I'm call. I want to buy your portion of the property. So we sit down, we strike a deal to buy his part. So now I've got all three people together so I can buy Buy this this property here. But I think the cool part is I'd like to creativity of it. What I ended up doing with is with the brother, I gave an option. I can pay you all cash, the first brother, or I can keep a little bit more money over time. And he said, I want money over time. So I'm paid him $300 a month on a personal note. So it's not attached to the property. Okay. And, um, at 0%. Okay, so that's nice. And then the then the, uh, the father, the same thing. I paid him three or $50 a month. 0% interest overtime, okay. And paid in both 25,000 apiece. Okay, Now, um, the brother that's in jail, we He's actually a really nice guy. We've become good friends. I've been sending books while he's in prison. I said, I'm rich. Dad, there's a book. Uh, no excuses, Brian. Tracy. So he's reading all these books. When we first started talking, I was gonna buy a jeep with this money goes, I go by this brand new g been done it out of the ER as I kept reading all these books. I said, you know what, Won't you invest your money into something that's gonna make you money? Right? He goes. Carl, thank you for seeing his books. I'm starting to change my mind and look at things differently. He said I don't get out of prison till December 23rd. Um, I was gonna put the money in a CD. I was gonna give him 25,000 cash. And then he said, Well, you know, I I said, Well, wait a minute. You put in CD. Would you like to earn 6% interest? Because, yes, I'd like to get 6% interest so I can pay you 6% interest. Then you get a prison, you get all your money. Would you do that

spk_0:   4:38
for me? I said,

spk_1:   4:38
sure. So what I did is I borrowed money from a friend of mine in first position. $25,000 Because I've been what I've been doing. This guy's really cool guy. I've been given money in prison, put it on this card all the stuff too. He gets, you know, get through. So I borrowed $25,000 at from a friend of mine in first position and the guy in jail. His money's a second position. Ah, crewing at 6%. And I have two other 0% notes that I'm not attached to the property rights. I have no money invested in this property money in my pocket. Um, and that's how we sort of structured the deal.

spk_0:   5:17
And what do you plan on doing with that? Are you gonna build on it or you just gonna let it appreciate?

spk_1:   5:22
I'm gonna let it appreciate because we're kind. Assemble some property right along there because the fact that it's near light rail that we can build a 65 foot building. I'm probably So we're tryingto we bought. We talked of three of the four owners and they sort agree, or 2 to 2 of the other owners agreed to go in. And I gotta work the other owner. If we could put it all together, we could probably sell it for quite a bit of money. That this deal is probably take years, you know, to come to fruition. But, um, it's very valuable piece of property in the city Just rezoned it.

spk_0:   5:52
So when you went to the van down by the river, we're just gonna call that Saturday Saturday Night Live reference. Did he? Even though he owned property,

spk_1:   6:02
Yeah, yeah, because he used to live in the house and got bulldozed. And he's like, he was like, I've been waiting for someone to come on, offer me something on this property, and I was like, Well, you know, God sent me here,

spk_0:   6:15
right? You didn't really make yourself easy to find. I mean, you're living in a van on a random street. I mean, how did he think people? We're gonna find them, you know?

spk_1:   6:23
I don't I don't know. I mean,

spk_0:   6:25
that's crazy. It makes you wonder. Like, why would somebody like that? That obviously is financially distressed. Why wouldn't they? Did they ever disclose why they wouldn't just list the property or try to sell it themselves? He literally was just gonna wait on Uncle Carl that eventually come knock on his van. Van? I don't

spk_1:   6:47
know. I don't send you pictures, too. I got pictures of me shaking his hand and everything, so I'll study the pictures that he's got a mattress on the top of his car. He's got a little couch out behind it, Uh, that he hangs out on. It's pretty. It's pretty cool to set up. You know,

spk_0:   7:03
you have been trying to find this particular proper you use light, sought out this particular lot, right? For two years. What about it? Was it because of the location

spk_1:   7:15
it was because of illusion is because of location. And then during the meantime, the city rezoned it for me. So I was like, OK, I really need to get this now. You know that

spk_0:   7:27
he was even aware that it got re zoned. Er,

spk_1:   7:30
no, just Yeah, here. You know, posters. 33 people. There was open probate, so we had to finish that out. So there's there's some hoops to jump through some judgments and leans we had to take care of. So it was a fair amount of work to get it all put together,

spk_0:   7:45
right? And on these types of deals, when you seek them out, is there ever a point in time where you're like, Hey, we're putting too much work into something that might end up being event in At what point time do you decide to, like, stop trying to track somebody

spk_1:   8:01
down? I don't ever I'll go beyond when I should give up. I talked about this deal last time, but I want to mention it real quick again. There's another deal that there were making $243,000 on that. My partner said, Give up on Carl, You're not gonna get it worked on a year and 1/2 track down long story. But, you know, one guy had passed away and then work on his brother, who was killed in Crete in 1973 that it was going to his two kids and and we couldn't find them anywhere. Turns out their their mom got remarried and they changed their names. We spent a year and 1/2 searching for them, but we made 243,000. I never give up. I put on the back burner, but there should be times where I should cut bait. But I'm crazy. I'll just keep going now. I don't give up.

spk_0:   8:52
Well, that's that's your whole business, though, right? I mean, you do. You'll ever do like normal deals where it's just like a we. You know, we don't have to clear up crazy title issues or anything like that. Or is this some

spk_1:   9:06
of those? Because mentally it's pretty taxing what we go through Everything from having motorcycle gangs sicked on us. Two guns pointed at my head job, had to run from dogs. I mean, we've had squatters. It's been crazy, so but we did do a few. We did a one deal where we just did some cold calling and lots. We got a lot for 25,000. And, um, God reached 25. We hold, sell it off for 45 made 20,000 but typically know most of our deals are Can I say, fucked up on this? Yeah. Okay. Must our deals are fucked up and they're take take forever. And, um yeah, WeII do a few normal deals. So? So

spk_0:   9:49
All right. What's our What's our necks? Crazy ass story. What else you got going on? This was

spk_1:   9:54
a deal. Ah, was a lot deal that a buddy mind brought to me. He had taken 25 attorneys. I said it couldn't be done. Okay. I'm like I was beating my chest. Uncle Call can do this. We can't do anything. Well, long story. I'll tell you the story. But we spent a year and 1/2 messing around. We made 75,000. If I had to do over again, I would not have done this deal. It was too long. Too much work. But this What happened? There's a first mortgage on it to ira. A second mortgage to private individual. Multiple leans and judgments. There was a city de Moline, an uncooperative owner. Okay, so what we did on this deal. Waas We approached when the junior Lien holders is the first. There's a lot of money out in the first, a lot of money over in a second. So we called him up and said, Hey, you have a lien on this property and, um, you know, we're curious what you want to do because you're so far down you're not gonna get paid. He told us a story about how he learned the guy money and he hated the guy. And then I was like, Would you like to get this guy back? Because, oh, yes. I said, Look, I can't give you about $1000 but I want to use your lean to foreclose on him. I'm gonna get negotiated Discomfort first the second, all these leans. Then we give you your lean back so you can still go after him if you want to. But well, on the property will get him. He's like, I'm all for I'm not the time to mess with it. So we basically used his lean before close on the property. Okay. And then when it went for sale, um, the property we ended up acquiring it at for, like, $2700. And during the meantime, we negotiated discount on the first, the second, and then we're negotiating discounts of all the leans this thing took forever is a lot of moving parts. And then we had a friend of ours buy it for 225,000. So basically, what we did is we had about six or 7000 total invested. We had discounts, all negotiate on everything else, and they all get paid out of closing. We sold it for $225,000. We netted $75,000 on the deal.

spk_0:   12:09
Wow. And was this a lot, or was it a house? A lot. So you do a lot of just vacant land, right?

spk_1:   12:17
We're killing it in the vacant land. A lot of people, um, probably didn't tell me. This will start going after the guys that did this only works in Charlie. It doesn't work anywhere. All right, Unless you're a competition. Charlotte. All right. Okay. What the hell? It We're killing it in laying business. Um, from vacant lots to subdividing to all sorts of stuff. Um, I'll tell you another another deal. We did Yeah, we got a package. Uh, this is the land got package of three properties and she threw this one lot in for just the taxes. I think there was, like, 500 $100 taxes, She goes, there was a house on it. It's too small to build on. I'll just give this to you for free. So we took it. Then what happened on this? This deal s so she threw it in for free. So we're like, What are we gonna do with this? So we started talking to different real estate investors, and someone said you could do a variance. Were like, What the hell's a variance? We didn't notice parents Waas. They said that's where you take something too small. You take it from the city and they let you build on it. I'm like, Well, how do you do that? You gotta find a variance attorney. I'm like, Okay, so I started asking people and I'll give a plug out things. David Murray ran into him and actually gonna launch them today at 12 o'clock. But he he said, Yeah, I can see the various on this property and resell it. I'm like What do we do? It. Did you get a survey and you just pay me money. Okay, so we just wrote a check out to him for, like, 3000. He went through the city. We sold that property for $95,000. Wow. Must bear no. After everything's done. We had fees and realtors and stuff. We netted 84,000 on a piece of property. Got basically for free with taxes. That

spk_0:   14:00
is crazy. Crazy, but okay. You know, North Carolina. And I didn't think that the retail prices were that high. What's like the average price point of the house in North Carolina or should

spk_1:   14:12
all depends if they're close in the town, you could be 1/2 1,000,000. I think the average price and I'm probably wrong is probably 250,000 growing city. Um, and land close in the town is really valuable.

spk_0:   14:27
So, like, on this, would you solve for 95,000? What? What are they going to do with it? They're obviously gonna build on it. What kind of house are they gonna build on that?

spk_1:   14:35
They'll probably build a 28 100 square foot, two story house. Probably sell it for half 1,000,000. Janja. Something like that?

spk_0:   14:43
Yeah. I mean, that's crazy that, you know, you're literally just receiving something for free. Like, Hey, this is such a pain in my ass. I don't want it anymore. And it turns out being an $80,000 profit for you guys and really on that one in comparison to the other ones. You didn't have to do a whole lot of work. You literally just hired an attorney, right?

spk_1:   15:04
Yeah, we just hired Attorney road check. I'd love to say we're like, really brilliant, but do you know the variance? Woz? You know, we're just way got lucky on that, you know?

spk_0:   15:12
You know, it's funny because I've never done a variance before, you know? You hear about it. It's kind of like, Yeah, it's one of those terms. I probably should know what that means, but I'll wait until I actually have to do it. They don't figure out what it is.

spk_1:   15:27
There's all sorts of variances you can do, even known subdividing stuff and different things. It z we we've done another variance. We only done two of them, but where we're going like I'm going to lunch today again with his attorney. We want to learn more about him. How to find him. You more? Um, we bought another piece of property for 23,000 that we got a variance on its under contract for 1 60 Wow, that's supposed to close out in a month.

spk_0:   15:53
And roughly how much does it cost you in the attorney fees upfront, like somewhere between, you know, less than 10,000?

spk_1:   16:00
Yeah, about $3000 with survey attorney's fees to get a pair of that at all. You know,

spk_0:   16:05
And it can they pretty much almost always get that variance for you. We're never gonna be a time where the judge or the city or county says no. There's a

spk_1:   16:16
possibility you have to go in front of that. They put on their little presentation. Why I have to be there. I'm going to speak yet, But otherwise, they agree that the variants and, um ah, he pretty much knows what's gonna work and not, but there's no guarantee you're right. But it's just pretty much know that attorney's pretty much know what will work.

spk_0:   16:34
So that's what I was gonna ask. My next question was when you look at the lot and you're like, Hey, we might want to do a variance on this. Should you send it to the attorney and say, Is this a viable option for us to do a variance? Yeah. And then you kind of let you know. Yeah, we should do it or No, you shouldn't.

spk_1:   16:51
Yeah, he'll give us a ballpark. No guarantees, But it pretty much because he knows the people who pretty much knows what what will get through and what won't. Right? You know

spk_0:   16:59
what I'll say? This is well, going back to your concern about people you know, hearing that you're killing in land. I've probably interviewed three or four people. That that's all they do is just land. Every time I've interviewed him, I've come out of the interview going. Why am I not doing more land? I don't understand because because

spk_1:   17:19
because you're a dumb ass. That's

spk_0:   17:21
exactly what I think. It's because it's just the There's the unknown of light things that you're talking about here with the variants and subdividing. And if you've never done it before, it just seems like this very scary proposition in this fear.

spk_1:   17:38
It's not like for example, will subbed of all we do. Like if we want to know if we can subdivide something, we go down to the zoning and say, Can we subdivide this? They pulled up Say, yes, you can and we know or we call a surveyor to make sure. No, of course it's not ever guaranteed. But, you know, um, you know, I'll tell you another lame story, too. Yeah, there's a There's a lot that we're getting in a messy estate and we had to track down 13 years, get 13 heirs to agree. So we ended up tracking him down and at the time to with this little 19 year old girl working for us, and she basically went around us and was going to sign a contract with him. Okay, And we're supposed to be working together. Uh oh. We weren't real happy about that. I mean, he could be careful like we got good people who work for us, but she was trying to steal the deal, right? What we did is we ended up calling the guy back and said, Well, what was she offering you for the property? And he said, Uh oh, she's gonna give us 42,000. I'm like, Oh, my God. We're gonna give you 62,000. I can't believe she's doing that to you. So he ended up going with us.

spk_0:   18:42
That's funny. I'm assuming she got the ax, right.

spk_1:   18:46
She got the ax.

spk_0:   18:47
You know, Walker works for, you know, you hear horror stories about that as well. You know, employees. They see all this money coming in, and then they get this front of me. I had somebody do that to me. Previously. They basically took all of our leads. And then the next thing you know, we have one of our leads calling us and say they you so much for helping us out. And, uh, we didn't buy your house. And they're like, No. Yes. So and so from your company. They came and they contract did it. And it's like, Holy cow. I can't believe that just happened, but you know it. I think that's part of owning a business

spk_1:   19:23
is part of it. You go through problems, but we ended up 13 years. We got him all to agree. And then there was, um, the public administrator was in charge of it. so we had to make a deal with him, he said. Look, if we pay off all the leans they wanted to a private sale, she said Okay, so we had to track down all the leans, negotiate all the leans in the the, um ah, probate or whatever. The state was open, right? We did that. We bought that and then one of one of the heirs and it had died in between that. So in North Carolina, we didn't happen. Open another estate. So we had to hold another nine months because there's a rule in North Carolina, someone's deceased and the deceased over two years, you don't have open a state, and we're afraid there could get messy. So we had to buy it and wait another nine months, for we could sell it because somebody passed away. During this time, you got complicates. We end up buying it for 62,000. So then we noticed that there's a lot next door also, and we looked at it and we went down the zoning. So if we combined our lot with that lot, it was on a corner that we could end up getting four lots facing the other road. Okay, I'll show you a picture of it later, but so if we So So we're gonna bind that lot for 168,000 and then we got it so it could be subdivided into four. So now So we paid 68 thousands. 62,000 And then we sold that we made 166,000. Because now it's four was four lots. You gotta look for that. You gotta look for if you combine it and then re subdivide and we noticed with the way, because it was longer in other street so we could get four lakhs facing that way when we only had two facing the other street. And Ah, so I

spk_0:   21:09
want to circle back to something that you talked about earlier, because I don't think I've ever had a guest actually like, explain how you could talk to a cellar about this. You talked about on your first story. You got two of those sellers to take a 0% interest loan. Yup. Talk to me about how you explain that you're gonna pay 0% interest. Do you ever address that, or how do you How do you make them

spk_1:   21:38
comfortable with that? Well, the one guy in the van I just basically said, Hey, um, this is what I could do. I said, I've got agreements with everybody else. I can pay you 25,000 but you pay you three. We have to pay you monthly. I'm gonna pay you $350 a month. You have a steady income coming in, he said Okay, so, you know, I start basically told him, You know, this is what we're gonna do. Other guy, the other brother. I said okay. We could either pay you. I can't remember what, but it might have been 20. We need to pay you 20,000. Or, you know, he asked me what his brother is getting. So your brother's getting 25,000 but he's taking the money over time. We can pay you last. You all your cash now or you can get more money. Do you want more money or less money? I like you want more money because I want more money. It's okay. Well, we're gonna pay you $300 a month. You and I talked for a while, too, but He's like he was going to school and everything, and he wanted to have income to supplement it. So I didn't have to work versus having a lump sum and that sometimes people don't They know they're not good with their money, and they're gonna blow their lumps home.

spk_0:   22:43
That's what I was gonna say. It's also a particular type of person that, you know, you could kind of almost gently walk them down the path of. If I just give you $25,000 you're probably gonna blow it pretty quick. But if I only give you $350 a month, that'll put you in a better position, right? And and I think some people, when they're in a certain position in their life, can't understand that. Be like thank you for looking out for me, you know, so that it's a delicate conversation, you know, was particular people. But, you know, I I've heard people talk about that before, but I've never asked that specific question. I'm sure people were going How can you convince somebody into 0% interest? You know, And

spk_1:   23:26
you just say, Mom, I'm gonna pay 25,000 you know, x dollars a month until it's paid and fall. I learned this from Bond, the Grand and Cameron. Dumb up was course I took about notes and stuff like that, Right? But didn't you know? I'd love to say I invented this time some smart guys just, you know, I went, of course, from Cameron Dunlop, and ah, was Ah, um, round the grand. That's where I learned it from you. All right. Oh, it's It's not original. All

spk_0:   23:54
right. Do you have one more One more crazy ass story for us. Okay, Well, what do we got on the board?

spk_1:   24:01
We got on the board? I'm looking through the ones that are gonna be interesting. Well, this this one's not really Ah, this is just one example of using leans and judgments, Okay? There was a piece of property that I pulled up on the way. We use a property. Look up, system. The G. I s I noticed it was tax delinquent and that there's two people on the property. One was deceased. It's like a tractor down. And what I did was I left notes in a mailbox. I called her and stuff, and then she called me one day and she said, Hey, um, you're the guy that I'm selling the property to. I was like, Yes, ma'am, that's me. That's me. Um, she's Look, can you come by and I'm like, Okay, I think she was talking to somebody else to Yeah, yeah, that's me. So I came by and we made agreement to buy a lot for 17,500. I said, Well, I know there's some judgments and some leans and stuff against that's gonna have to come off the amount owed, she said. Sure. So I went back and found that there's a de Molina for 12,000. There was all these taxes and city grass cutting leans, So I went back at all, the leans pointed out. I said, Look, we have a problem. You owe 21,000 against this property out. Look down! I showed her all the leans and she goes, Oh, I guess I can't sell the property And I was like, Well, how about I give you $500 take over all the judgments and all the leans? She's like OK, so I came back the next day with my ex girlfriend, who's a notary and ah um, we got it notarized. He gave in the debate. Give her $5. Well, property taxes are only collectible for 10 years, and there's 11 years of property taxes. So we paid Eventually paid the 10 years that there's $2750 discount, right? There's a $12,000 dem a lien on the property. I hope the city Charlotte's not listening, but there's a $12,000 dem a lien on the property. The city to this has never renewed their demolitions. Leans only good for 10 years. They fall off. Okay, check your state. I'm not a c p a layered out of it up that de Moline falls off next year as $12,000. So we, um, you take off that and there's another small lean so effectively bought the property for $6700 and we paid $5 up front. And then we waited a year to before we paid the taxes, except for the year. So so you can buy properties with leans and judgments, negotiate him or let them fall off right money, and so that that property's worth about $80,000 today. We've had it for, like, two years. Um, and, uh, that's just in the sad thing when she died seven days after she signed the property over. Oh, man, that's rough. Yeah,

spk_0:   26:48
we actually just had a cellar. Died the day before

spk_1:   26:50
closing. Oh, my God.

spk_0:   26:52
Yeah, that that's rough when that happens, you know, it's like, Ali, we I mean, you were just solving their problem. Got to know that I'm built, report with him, and then you find out they pass away. I mean, I know it's part of life, but it just kind of dampens the mood on a deal a little bit. So on that particular deal there when you went into it and you made that arrangement with her, how long were you anticipating holding that property before your before your payday?

spk_1:   27:24
Um, we figured 3 to 5 years, it's close to where the light rail is. It's going up in value quick. So he's figured, you know, $5 invested. Well, just hold it for right, but that our target is five years. Hold on that property. Well,

spk_0:   27:39
let's see. I'm sure. And keep this about 30 minutes. And they were at 25 minutes. You got a You got a quick five minute story for us that will wrap this up with

spk_1:   27:47
Yeah. Here's another one we like to buy partial interests in property. A tie

spk_0:   27:51
like those? No, Dave Day talks about this a lot. And I know you talked about this a lot, so

spk_1:   27:56
it was a great guys, buddy. I've learned a lot from him, but we pulled up this property. It was tax delinquent. The lady that owned it, I guess it passed away. So we built a real family tree real quick. It didn't take long. We just pulled the obituary, got the names. So we call this one lady in California. She didn't want to sell, you know, she was difficult Young. 1/4 of it. So then we got the rest of the family, and we called them up. There was, like, basically four wings. I said four brothers gone too. And, um so we called when the ladies, you know what's going on this property. And she explained how the lady had won the the one person the one air in California had deed to the property to herself. And then the court reversed it. And they're like, we're never gonna get the money out of this property. It's a mess. I said, Well, I'll buy your share out. Would you like to buy your share out? Oh, yeah. So we made agreements to buy each wing out for $8000. Okay, we said, Look, we have to clear title will give you $5 signing bonus today. Where we going to do this? The property and you get the rest. 7500. We clear. Title. So we got everybody to sign because they knew they were going any money, money from their aunt that she was gonna drag us to the court. That could be a mess, right? No. So they just want to go. Anyways, we ended up getting 3/4 of it. Okay, so we owned for, like, a couple $1000. We own 3/4 of the and they get the door contracts. Typically, you get a signing bonus to give us the DD X dollars from the properties. Is the title's clear? Because there's nothing else they can do. They don't know how to put this together. They don't have to do partition. Say All right, so we ended up getting that. And then we tried to work a deal. This one lady again, out in California, we couldn't get it done. So typically, what we do is a partition sale. We hire an attorney, it goes to sail the courthouse. Okay, then it goes, Sell the courthouse. You win either way, and the reason you win is that goes for low at the courthouse. You buy yourself your own 3/4 of it. It goes for high. You let somebody else by it because your own 3/4 of it. So you always win in a partition sale. I shouldn't say that. You know you. D'oh! So what? We were going to a partition sale, but the taxes were foreclosing. So we let the taxes foreclose that automatically partitioned it, and we made I can't I think was, like, $63,000 on a $28,000 investment. It might have been 68. I'll find the check. I got it somewhere 63. But that's that's this is you know, you buy the partial interest. You give people very little money up front, they get the money when you clear the title and you know, and what we actually did is we knew we're gonna have to do this partition sales. We call everybody back and said, Look, this is gonna take months when you have, like, some money now, and we got discounts for most of them and paid him out ahead of time, and then we let the thing go through and the tax sale actually partitioned it. Wow,

spk_0:   30:55
That's crazy stuff, man. And guys, this is our first part of, ah, Uncle Carl's crazy ass real estate stories. I think we're going to try to do this every couple months because

spk_1:   31:06
that'd be great. I want to talk about it.

spk_0:   31:08
Yeah, this stuff is just I mean, it's it's awesome. I know. I don't know. Very many people that, you know, first of all, have the knowledge to do this or also are willing to take the risk to try to track down cellar for two years or, you know, take on, you know, properties with variances and hope that they go through when they've never done it before. There's a lot of people that a risk adverse for these types of deals. So, guys, have you like today's M So please reach out to me and let me know. Or you could drop us a five star rating on iTunes and let us know how. Also, Moco Carl's crazy ass real state stories are and you're

spk_1:   31:45
already there. Uh, let me plug a couple of a mastermind group. $105. Uncle Colin. Friends mashed my group. We go into details about these deals were also selling bulk data and bulk skip tracing. We've got some really good data and well, joint venture Will Dukan consulting and stuff. Let me get off me about my phone number. If anyone text me, it is better to text me cause I don't answer my phone. Okay, 70499553857049955385 Or you could call 7047777777 to leave a message on our phone number.

spk_0:   32:24
And I have had a I've had the honor of speaking out from Carl's Master Bi. It's a great group. Fun, fun. People are there. Everybody's doing a lot of deals. So, Carl, thank you so much for taking the time today guys hope you enjoyed this week's episode. We'll see y'all next week.

spk_1:   32:39
Thanks for having me appreciate it.

spk_0:   32:41
Thanks so much for listening to the titanium vault with your host our Jane base, the third more imposing. To stamp the date, visit www dot podcast on the titanium vault dot com and on facebook dot com slash the titanium vault. He enjoyed the episode. Please rate in review and we'll catch you next time.