The Titanium Vault hosted by RJ Bates III

Marketing & Dispositions during Unknown Times

April 03, 2020 Next Level Mastermind Episode 119
The Titanium Vault hosted by RJ Bates III
Marketing & Dispositions during Unknown Times
Chapters
The Titanium Vault hosted by RJ Bates III
Marketing & Dispositions during Unknown Times
Apr 03, 2020 Episode 119
Next Level Mastermind

Next Level Mastermind hosted a roundtable discussion on March 26, 2020 with RJ Bates III, Cassi DeHaas, Jamie Wooley, Ryan Robson, Steve Trang, Quentin Flores, Chris Jefferson, Don Costa and Alex Pardo to discuss marketing and dispositions during these unknown times. To learn more about Next Level Mastermind visit http://www.nextlevelmastermind.com

Show Notes Transcript

Next Level Mastermind hosted a roundtable discussion on March 26, 2020 with RJ Bates III, Cassi DeHaas, Jamie Wooley, Ryan Robson, Steve Trang, Quentin Flores, Chris Jefferson, Don Costa and Alex Pardo to discuss marketing and dispositions during these unknown times. To learn more about Next Level Mastermind visit http://www.nextlevelmastermind.com

spk_0:   0:00
Hey, guys, Welcome to the titanium vault. I'm your host, R. J. Bates, and this episode we are bringing you next level masterminds. Webinar called marketing and dispositions during unknown times, along with myself, Cassie Diaz, Jaime William, Ryan Robson. We also had Special guest Steve Train, Quinton Flores, Chris Jefferson, Don Costa and Alex Part No. This was recorded on March 26th and we're talking about the changes that we're making in our marketing plans as well as how we're still dis Boeing are wholesale properties during the Cove in 19 Pandemic. Hope you enjoyed this episode and we'll see you guys next week. You guys will welcome to this week's ah Met webinar about marketing and dispositions during unknown times. Roll quickly. I'm gonna give a brief intro for all of our Panelists if you don't know who they are, uh, got to start off with my good buddy Don Costa out of Fresno, California He's the host of the flip top podcasts, and also he's running the inner circle elite mastermind. He was actually the first mastermind that ever tended, and he's the reason why I started my podcast so honored to have him here next to Steve Train. Mr Real Estate Disruptor himself. Hey, has 10,000 followers for his podcast. He also has a cell's training program, and his legacy is he wants to create 100 millionaires across the country, and he's well on his way to doing that. Next, I've got Alex Pardo, Family Man. First, he's the host of the Flip Empire podcast. And then he's also the co co founder and the coach of a sin. It's a mastermind and coaching program for entrepreneurs. You want a better life and business. Next we got Mr Chris. Jeff Jefferson doing men.

spk_4:   1:55
What's going on

spk_0:   1:57
out of Richmond, Virginia? Um, you know, I just had Chris on my podcast. He's been a prolific wholesaler. The average is about 70 deals per year. Um, and he started in 2008 when, when everything was going to shit so honored to have him on here. And then

spk_5:   2:15
when the crap

spk_1:   2:16
are we allowed to say shit,

spk_0:   2:18
we've got

spk_5:   2:19
on the crab,

spk_2:   2:19
it's

spk_0:   2:20
on here. Jamie Woolley, Cassie Diaz and Ryan Robson. Um, together we're next level mastermind. Jamie runs Ah, wholesaling and flipping company down here in d f. W. Casting our partners at Titanium Investments and then Ryan Ryan's le Phoenix Man of the next level group. He flips anywhere from 50 to 100 deals a year while also traveling 120 days year to make almost jealous.

spk_2:   2:50
The onus on this environment. Yeah,

spk_0:   2:54
and then Quinton Floors isn't here yet, but he's going to join us in a second. When I asked him to send me his bio, I saved this one for last, cause this is what he said me. Quinn Flores, the metal head real estate junkie from San Antonio, Texas. People know him as Q. While others called him that Johnny Cash with a beard. Quinn has been investing in real estate for seven years, all while playing video games and shooting the shit on the Internet So that Zach Slater, that's bio so I don't know him. He runs the whole selling houses. Ground Zero group just had a massive event down in San Antonio, so we're honored to have him on. Here's a CZ Well, so with that being said guys, today's webinar, obviously, you know, we had a call last week and and we're kind of just wanting to throw out some free content for everybody in regards of what's going on with the Corona virus in our marketplace right now. This week's call we want to talk about marketing. What? All we're doing, that kind of change our business is. What's up to you? Hey, what's up, guys? So you missed your You missed your your bio. But I read it word for word, the way you send it to me. So, uh, way we want to talk about marketing and how we've changed our marketing plans and tactics right now, since the Corona virus has kind of become a pandemic and changed all of our worlds as well as dispositions, either for flips or wholesales. So I kind of want to just open up to you guys. Um and see, you know what you guys are doing right now to change y'all's marketing

spk_4:   4:29
plans? Yeah, I've jumped in first. If you want men, go ahead. So the, uh, the last 7 to 10 days has absolutely been insane, to say the least. We've been aggressively, you know, re evaluating our business model. Looking at exactly what we're doing on what adjustments we want to make. I think the biggest ones of bed. We're doubling down on our cold calling. Cole calling has already been massive for us over the years were more aggressively cold calling people at home. Right now, we're getting a mixture of people that are either, uh, you know, they have economic concerns, and they're they're aggressively looking at trying to move a property or people who aren't sure what to make of things yet. And they're really good quality follow ups, you know? So we've we're going more into our bad credit list, our bankruptcy list, things of that nature that really given us demographic of people that we can help That may be facing some financial issues here in the near future. Ah, and also not just focusing on absentee list. You know, we're aggressively going after owner. I keep enlists as well, because those people are also gonna be impacted by what's going on from a disposition side. That's been, uh, it's been a It's been a thing. You know, we had a closing today. Uh, you know that that buyer was supposed to close last Friday. They're private lender. Pulled out the financing, you know, right at the last second, they're closing so down they had to close it with their own personal cash was, thankfully, they were able to do that. Are other deals are still going through? But what we've done is we've touched every buyer that we've got. We've touched every private lender. So all of my private lenders have directly reached out to them to discuss what I see going on the market. What are cash positions is in terms of reserves were able to do with no rent coming in at all, you know, things, that nature. So we've had those conversations, not the easiest conversation, but you gotta have it. You know, I believe in trying to set the right expectation. And then it's ours, our buyers, something that we're doing right now. We're looking aggressively over the next couple of weeks are in the foreseeable future. Rather is we're aggressively tapping into our buyers list. Uh, we're putting more energy and focus on building it. So for a long time, you know, buyers requested the craziest thing in the world for the simple fact that the market was so hot you had a deal is going to sell, you know, we're transitioning into a time period of you want to know your buyer?

spk_2:   7:08
I can't hear you, Chris. That man. We also lost Chris's audio. Everybody. Yeah, you

spk_3:   7:14
can hear us like it Cut out it we're transitioning to. And then kind of like after that transitioning to

spk_2:   7:19
he's still talking. Let's just let him talking. Someone else go. Is anybody here know here is Christine. Do we actually look like the Brady Bunch? This is pretty dope.

spk_0:   7:31
Is anybody else cold calling right now, or were they cold calling prior to what happened a couple weeks ago?

spk_2:   7:36
We're still cool.

spk_5:   7:37
We haven't changed. We have changed a thing on our protocol.

spk_4:   7:41
Do you guys hear me now? I guess I must've went on mute. Yeah, you

spk_3:   7:44
did. You went on. You went off when you said we're transitioning to. If that helps juvenile

spk_2:   7:49
just to clarify, I could see humidity. Ugh. It Jamie muted you when you were talking. Uh,

spk_3:   7:54
there's no way I'm using my phone. Quit playing.

spk_4:   7:57
Yeah, I got my hands here, but, uh, I can't remember exactly where I was that, but we're transitioning our business. Right? So, you know, we're focusing on making sure we're having conversations with our private lenders. setting proper expectations with them. What are cast position is what we're able to do what we're not able to do with, you know, no income coming in it off. Martin, a portfolio. We've also reached out to all of our buyers, right. So we had a deal that closed today. That deal was supposed to close last Friday. There, private lender pulled out at the last second product closing that close with their own cash, which, thankfully, they're able to do so. We're being being intentional about reaching out to our buyers list, seeing cooking clothes who can't, uh, we're talking to lenders In the market letters. I used my own personal business to see what their lending criteria going forward is gonna be. Are they open to working with borrowers in case we have buyers that need financing as well? Uh, so we're just trying to get attention by our doing business, and, um, you know, I think the market obviously has changed. I think business is still able to be done. I've got active properties that are flips on the market right now. I've got offers this week of that and showings this week, so I don't think the bottom is necessarily fallen out. I think it just now is the time of adjustment, Thio. It's not gonna be as easy as it was, right. So you can't just get any deal and throw it out there and thanks so much. Gonna pick it up. You gotta really evaluate deals right now.

spk_0:   9:19
Have you increase in your contact rate on the cold calling?

spk_4:   9:23
Yes, I might have got cut off when I said that. We've been doubling down on our cold calling very aggressively. We now have eight people on the phones making phone calls. Um, and our contact rates are going up. We're getting people that are either aggressively looking to sell, and we're leveraging the conversation about the economy and those phone calls or we're getting people that don't really know what to make of anything yet. They're a little nervous, little frightened. And so we're pocketing those quality follow ups to it on a weekly basis. We've pulled and we got aggressive with, you know, our bankruptcy lists, no credit list, low income list of those people that we're gonna be able to really help right now in this situation and then also making sure that we're not just focus on the absentee. So now we're also making sure Coleman owner occupied list as well, Because there's gonna be, ah, a wave of people they're going to downsize. People are gonna need to sell their home to get to get liquored cash, eh? So they can, you know, maneuver around with everything going on. I made a posting my Facebook today. The unemployment rate, our amount of unemployment followed up leave with 3.39 last week, which, if anybody understands what that means is highly, highly significant, um and, uh, pause for concern, for sure. So now it's just time to be more attention about everything that you're doing your business.

spk_0:   10:43
So, Steve, you said you haven't made any changes in your marketing. Have you seen an uptick and your contact rates as faras cold calling?

spk_5:   10:52
Yeah, we've had way more quality conversations with the same amount of effort. But I would say that even though we've got more leaves and more quality conversations, we have not necessarily mean that translate into more cells or contract. And we are trying to buy a deeper right, so that could be the reason why we're not getting any contract, but, uh, were we? This is an analysis we did on Monday of last week. You never saying, like, a things get kind of Harry, what we're gonna do Things go south with our options and one of things we're talking about what's potentially coming back in cold calling. But as of right now, we're so close and deals, you know where we got one That's closing recording today. And so is offer still doing deals. There's no reason to cut back on the cold calling, but revenue goes down for whatever reason. Then that's where we're gonna cut. Because that's where most expensive we run. Lean on purpose. Right? I think you heard me say before. Our profitability is 45%. You know, we want to be as clean as possible. And so if revenue dries up, they were gonna cut her biggest expense and four are marking our big biggest expense. Is cold calling

spk_0:   12:00
so cute? I know you do a lot of cold calling, right? We haven't on what it's been like the past couple of weeks for you guys.

spk_2:   12:07
So last week was a huge reaction. We were still working from our office, so it was a little bit different. And this week, San Antonio has been put under quarantine. So we're all from home now. Apparently, we're not a sensible I'm like trying to create a Sure. It's gonna say, hashtag I'm essential to stop my chest. And that's gonna be something that we're gonna work out. You know what it means? You know it. Uh e I think that right now our cultural rate has never been hired. Just a huge amount of people that are home. And we've been hitting a lot of different types of lists, right? So ah, couple of others that we've been hitting right now is low income. We actually were able to find Ava off of fiber that was able to hook us up with this list. So you have a low income it Normally it means that within your household you make under 20 to $30,000 right? So we're targeting additional heavily because a lot of these guys that have that type of income are getting laid off of their jobs, right? And we're pairing it with other things, like tax delinquency. We're doing a lot of data stacking right now to really narrow down our criteria, and it's been just like such a crazy like transformation. It's also helped me figure out who on my team is actually putting in work. And because a lot of people you know, so no, they'll take this time and say that this is my vacation, right? And, uh, you know, for us the train, it keeps going no matter what. So we've spent a lot of time these last couple of weeks with our mentors and people that have gone through not just the 2008 crash, but even like the stock market crash of, like the early nineties and then the late eighties and whatnot in different recessions, Right? So I mean, it's been amazing, and I feel like these things that we're going through right now. It's definitely not what it was before cause. But back then there was a pattern. This is like a huge epidemic that we're dealing with, and it's not more or less like a recession. It's just a giant market correction that could possibly happen, or maybe like a very long dead season, and that's my opinion on that. But business has been flowing. We closed two houses in Houston this week, and we have a couple of more in the pipeline. We're still finding people that are selling their property, so we want to be able to provide them with that solution. And rather than using fear is a tactic as a stem cell tactic when it comes to negotiation. But more like this is what we're able to do. This is how we're able to operate, and this is what we can do to help you guys still sell your properties, knowing that we're in a market right now that it's basically uncharted waters. So, um, it's really just been like a huge adjustment. Are cold calling Ray has been amazingly high. Our text blast rate has been amazingly high. R V M is off the charts right now, and it's better than I think it's ever been, especially because my office opens up a 9 a.m. and we basically do not stop until 5 p.m. With the exception of four people that state so seven right normally, those people that stay from 5 to 7, they have the highest rate, and you'll notice the spike in calls that happen. So I know what you guys use What we use call tools. So we're only able to check so many analytics. But from what I've seen right now, it's just been crazy. So, you know, definitely making the adjustment and going virtual and then utilizing tools like zoom and really narrowing down our criteria and stacking our data has been key key, fundamental factor and how we've been able to stay alive right now. But I'm pretty sure we just got one on contract today. We got another contract going out tomorrow for probably we're buying in Houston and we just closed on a few rehabs, so I'll probably talk more about that here in a minute, because that's just wild, too. We were not expecting any of this to happen, so, you know. But I'm interested in hearing what Don has to say.

spk_0:   15:36
Yeah, Don, I know you were big in the direct mail a couple of years ago. The last time I interviewed, you know, I have interviewed a couple of times. What are y'all doing right now? Again? You get done.

spk_1:   15:49
A muted myself were sold in direct mail. Were still were big in the fundamentals that we've always been practicing. I am. You know, using my marketing plan is out at least 1/4 if not more, and and were, you know, kind of doing a week by week. Right now, one

spk_4:   16:03
of the things

spk_1:   16:04
that I want to say here is because we're all in different parts of the country. Like different things were happening in different parts of the country. Right? California's on lock down, stay at home order for a week. Now they're talking about not lifting that toe like April 12 or something crazy, or, um and it was supposed to be the end of this month, and then l A is supposed to their target. They told everybody basically today to go get all your essentials cause they made quarantine the entire city. So and then you have some areas where you guys are still just doing your thing, right? Like it's not that big of a deal where you literally just got quarantined like yesterday. Right? So one of things that I've noticed is marketing like we did Ah, direct mail drop last week last Monday when they had announced the quarantine in Are the standard mortar in our area and like it hit on Monday and they announced on Monday, and the type of calls we're getting, we're basically like we're not doing anything right now. The quality call went down to just horrible. But then Tuesday, Wednesday, Thursday, started pick back up again momentum as as the new settled in. So I think what people need to understand is that as these things get announced in your mark because this news is going out changing day by day, you're going to see some impacts in your marketing or some of things you're doing or in your buyers that if you just if you don't panic and you give it a day or two, people start to kind of settle back in, the fear subsides and that's that's a war. CNN we d'oh! Uh, we do what we're doing A tremendous amount of follow up, you know, we're going through our system. We always did follow up. We're just We're hitting it even harder. We're doing our direct mail. Still, I'm just making my decisions like bye week. We are co calling. Not like some of you guys have cold cars. We are our closures. Will co call you know, a few hours a day each. We're still doing that. We're seeing some some good results in good conversations sticking up there. But we're in. The California is already kind of settled into the game, too. So that's one of the reasons why I think, you know, we're seeing We may be seeing something either worse than people that haven't got the state home jet or better than somebody is just getting it. So this is my two cents.

spk_0:   17:59
So, Alex, you had a great idea last week that your whole team was stuffing envelopes of offers of people that had previously told you know, have you got any call bags or results?

spk_7:   18:13
So those weren't out on Sunday, and we've received 11 calls out of 67 mailers. Eso We took 67 appointments, the most recent ones, and what we did was a cover letter with my family picture. At the bottom, it referenced Corona virus, a reference the fact that hey, we're here to serve even if we can't buy your property where here is a resource and we genuinely mean that. And then it became attached with a one page offer. So we've got 11 calls. One looks like it could potentially turn into a deal. It's still very early because the calls started coming in yesterday afternoon, but we're focusing on low cost marketing strategies. Were still doing direct mail, but we've really tightened up our by box. We're focusing on absentee out of state landlords, for obvious reasons. Adrian from my team somehow found the list of Airbnb owners. I don't know how he did it, but we're going after Airbnb owners again for obvious reasons. Um, we're emailing our database of sellers and we're letting them know Hey, look, we're here for you were still buying. If we can point you in the right direction, you know, here's our contact information. Feel free to reach out to us today. Actually, we just launched a private Facebook group for all the other wholesalers in the area. It's local to South Florida, and so what we want to do is we want to be the hub because I believe now, guys, and maybe I'm curious if you guys would agree or disagree with me, I believe now, more than ever is the time to collaborate with people in your market. We don't see them as competition. We see them as collaborative partners, and we've been actively texting, You know, the top wholesalers. Hey, if there's something you can't move, let us know. Typically, that's not our model. We're not really much into coal wholesaling and marketing other people's deals, but times like these that you've got to get creative. I think you gotta work together. Um, you know, I think it was Tim Brats that said, Ah, 100% of 50% of a watermelon is better than 100% of a great, you know, And that's kind of the mentality. That's kind of the approach that we're taking. Ah, we're starting Ah, Facebook group as well, and we're doing zooms. So every other work week. We're doing a zoom with other wholesalers here, and it's kind of like this. It's the network. It's to mastermind. And we think from that there's gonna be opportunities to partner with people. For anybody listening to this that maybe has a tight marketing budget, consider doing joint venture partnerships with marketing, you know. So if you have people out there that have dollars, but maybe they don't have, the resource is you have, Maybe they don't have the team. We've done deals with people where they fund 5 $10,000 worth of a marketing campaign. They'll get 25 to 30% of the deal. And because I have the team, I have the systems, that infrastructure. We'll handle basically everything from A to Z, so those are just a few ideas. You know, we're still mailing Book it on, and we're still doing a lot of lead Sherpa, you know, although that's we've seen a little bit of a drop off in that I think there's some. There's some challenges coming down the pipe as faras text message marketing, Um, and then the other thing that we're doing is we recently bought a list of people that are 65 years and older that live in a property 2000 plus square feet or bigger on. And in addition to that, you can even find houses that are too story. So seniors that are living in a two story house I think it was Chris that talked about people needing to downsize. So So those are some of the things that we're doing from a marketing perspective.

spk_0:   21:29
I love that you brought up collaboration because I think we have representatives from the two best cities that collaborate better than anybody in the country, and that's Phoenix and San Antonio. So I'd love Steve and and cue to talk about that a little bit. I've seen uh, zoom calls with probably 2030 people in San Antonio getting together just talking about what's going on there and and Steve, you know, it's it's been well documented about y'all's Phoenix click that you all have their and how well you'll collaborate together. So I love the two of you all that kind of talk about that a little bit

spk_2:   22:02
before. So, yeah,

spk_5:   22:03
uh, I would say that you know, what do you see right now with the Phoenix group that started last year, Right, Mac Michael's defense? Because even though we all knew each other all hung out, it was until they we spent you know, uh, three days the other that you know that the bond have really occurred. But one of these I hear a lot of is, you know, they see on the outside looking in what we got and they wish they had in their market. And every time I heard I've always said if you don't have your market, then go create it. There's nothing to stop you all right? If you have the heart to serve, you know the heart of a servant you got, you know, like a You're like a teacher. You know, You want to help people if you go out and lead it and you show what you've demonstrated on social media, talk to people like Alex started a Facebook group. People will follow and you will attract the people that like it. And you recall that people don't like it and that great, that's what you want. Anyway, for your life, you want to track people are like minded. So, you know, I've been going out talking about it, pushing it and demonstrating it anyway. The key. I think a lot of people say a lot of great things, you know, collaboration over competition. But do their actions always demonstrated? You know, when no one's looking, are their actions consistent with their words? So I think it's not just words you have you have actually implicate, implemented, executed and push others to do it. And I think that's, you know, on a kind of unrelated topic. You know, I think leadership eyes the most valuable skill that you can have to run a business. There's all sorts of valuable skills by the leadership. It's the most valuable skills. You could be an entrepreneur business owner, and there's no way a better way to demonstrate leadership. Then, too, be friend with, you know, be friends, your competition and working together.

spk_0:   23:48
What are you guys doing? Q. I I've seen a couple of posts about yells, zoom calls and collaborating and just talking about what's happened in San Antonio market. What's that been like?

spk_2:   23:57
Oh, man, it's been a huge blessing, man. So San Antonio is a very old place, right? Like you're telling you like, Ah, I once did a property in a very historic district here in San Antonio, where the property was building like 18 40 bro. And I found a cannon ball underneath the house. So you know that means anything that people have been investing in real estate for a very long time in San Antonio. So, uh, well, you know, one of the things that I love about San Antonio, So we have a lot of guys that aren't on the interwebs of social media. But, you know, because of social media, in the light of things in the real estate events and the meet ups and the groups and the, uh, podcast on the things that everybody is doing, you know, it's been crazy, you know, just like meeting with other individuals, that you never really have a chance here to seek out mentors, right? And that was a very important thing because, I mean, I lived through the crash. You know, I wasn't in business during the crash, so I don't like speaking about it if I wasn't going through it is that makes sense, you know? But if you have not been through it and I'm pretty sure that almost 90% to 80% of the audience here has somewhat started the real estate business within the last five years, they probably haven't ever gone through it as well, right? So by building these communities and where people were going to meet up with one another and talk business, whether you're having a drink or you're discussing strategies or even just to trading your number with someone else, it's been phenomenal to be able to seek out to people. I'm not a competitive standpoint, but like that we're here to collaborate and so building communities. And honestly, I mean, I don't think right now has probably been the best time to start a community, even if it's something that it's a bunch of newbies coming together. You know, there's strength in numbers, right? So I mean, it's been amazing collaborating with some of the guys from Phoenix as well. And, you know, I've been on a Steve Trains podcast You He actually honored me by allowing me to share my story with people. But I mean, you know, we basically married exactly that we don't have a podcast is bad as his real estate disruptors. But we definitely have an awesome community in an awesome group of people that are willing to help each other. So ah, you know, I've been able to connect with Chris. I've been ableto finally message don, you know, and I've been able to connect with a couple of you guys here just to even just talk to you guys about what's going on right now on how you can best. Ah, position yourself right? It's about positioning. It's not about riding it through and dealing with it. It's about positioning yourself into a place where you know that you can come out on top and still win. Because these are the unknown times right now, right? So it's it's, uh this is something that my mentor told me. It's like Look to the people who have been doing it before you because it was for you. Okay, so remember that, guys, and right now you're in a circle with a bunch of people. This is more of like you can ask us questions to them, just watching us talk about it. But the community has been amazing. We shift up way we shifted up. We shifted our entire strategy from just whole selling to now acquiring properties more often than we used to. You and ah, we just closed on two houses that we're gonna be starting rehab on. I actually just started rehab on today and another one tomorrow, so it's just crazy right now, But thank God for mentors. It doesn't

spk_5:   27:04
add, you know, we're talking about community. Uh, aye. Don't start a physical community right now, but

spk_2:   27:10
these we've got a fidelity,

spk_5:   27:14
but we've got a great online community. So the next level mastermind, what the three of you guys put together, you know, like there's some great questions in there. I know a lot

spk_2:   27:22
about

spk_5:   27:22
our washing. This aren't necessarily in that community on in the next little mastermind Facebook group. But you know, the conversations that we had, even just Ryan Panetta, what was posting this more yesterday and commented this morning? You know those conversations that you don't get to have a baby not collaborating, working together

spk_3:   27:37
like I have to speak up on this. But I lender that I have used winning a home for three plus years, hating one time done, I mean tons of properties with them. Out of nowhere, they raise the rates, which would have equated about $5000 for property. So how did talk with my team like list? I'm working. Have to buy deeper until I can figure out what's going on with this lending situation, and I happen to jump on next level. And it was already being talked about because there's 25. 35% of people in that group using lending home and to lenders were thrown out and immediately I had conversations with both yesterday, I got the deal that I was already getting with winning home, and they're like, No problem. I'll send you the paperwork. We'll get you up and running in 24 hours. That right there alone? I mean, imagine how much money like I personally just safer being in that group. Um, so to me, that's a really big deal. And I know Chris sit on this earlier, but I did want to, like, bring it back up. You know, people have got on the call, and it may have just kind of, you know, uh, glimpsed over, but, you know, dispositions is tougher right now. I think we can all agree on that matter. And he brought up something that's really important. Um, if you can find lenders in your area and you have a good local community and reach out to those lenders and say, Listen, you know, if we're getting some really solid deals and we've got buyer first that, you know, have some they can bring to the table. But yet their lender is, you know, pulled the rug out from underneath them. You guys, these buyers don't necessarily have the networks that we have and know the people to call a lender to get, you know, pretty within 24 hours like we can't. It's really imp. Sort it for you to do that due diligence on your own as a team and be able to put that, you know, in your email blast in your text messages when you're calling your lenders like they were your you know, um, your flip buyers like listen, you know, don't worry about it. We've got somebody you know that can step in on behalf of whoever you were using. I think that's a really key point just going to bring that up.

spk_2:   29:36
There's a Jimmy Steve posted something. I don't remember exactly what you said, Steve earlier, but it was something the extent off we're going to see a huge shift of whole Sellers that doesn't do it the easy way out of the market, right? A lot of those guys are part of the market and I started No. Nine every house. I thought it was worth less the next day and you gotta get really creative in those markets on just both positioning properties and I think it's important that you know you guys are listening. You need to start getting your hands dirty. FAA Just not easy. Like it just came out and saw your properties. These days, you gotta get involved with your buyers, help them get the property closed. We're going from, like, the easiest pendulum ever selling a property toe really hard to do. Do it. You just need to get those skills tighten up and be willinto jump in and get

spk_4:   30:23
it done. So, yeah, I got in trouble. I want to triple down on that road, quick. Just so people understand, You know, because you made a really good point about how many people they're probably watching this started, you know, 2013 2014 2015. Um, the businesses back at a point of having to be a conduit between the cellar and a closing. Right. So you have to be extremely intentional about helping make sure these things come together. You have to reevaluate some of your pricing as it comes to conversations you've had with sellers. Prices that were the price last week. They're not the prices, all right. And so you have to be intentional about having that conversation, you know, with your sellers, you have to. You have to. On the back end of these deals, dispositions was already tough, right in general, because acquiesced, acquisitions and dispositions air two completely different businesses. Dispositions is key. Right now. You have to reach out to your buyers. Let's get to talk to buyers here. Market. You gotta talk to hard money lenders in your market, even if you're not borrowing money. All right, you need to get on the phone with our money lenders in your area and find out who is actively still lending so that you can get them partnered up with your buyers when that's needed something that we've done over the years. But I continue to do more. Now is when we send our deals out, we send the deal out and we put at the bottom Rina rehab financing of you, right? And so the reason that we do that is we have a structure set up with multiple lenders in town, will introduce our buyers to some of our money lenders in town, and we've negotiated where we get a percentage where we get a point, sometimes more than a point right on that loan on top of our whole selfie. Right? So you just got to be very intentional right now, actually, running this as a service business and not just like, you know, somebody just pointed out, but you get something under contract. You thought of email or text blast and hope for things don't look gonna fall together. You have to really kind of step out of that and really put a step forward in making sure you're bringing everybody together. Your title process has to be tighter. Like all these things are extremely important. Right?

spk_7:   32:34
Chris, I I couldn't agree with you more. I think everything you said I will double triple down on. Now is the time. You we can't be lazy anymore in this position side. I told my team on our Level 10 meeting on Monday. Like we've been lazy on this positions like the days of sending out a couple of text messages to our top buyers and getting these things sold like that. I think those days are gone. A matter of fact, we've you know, to your point, Chris, we've been very intentional about having conversations with our top buyers. Half of them are on the sidelines right now, you know, and and so the mistakes we've made and it's kind of a rookie mistake is that we should have always been continuing to work on building that buyers list. But we were coming from a time, you know, over the course of the last couple years that it was just very easy to move deals. You know, we are in trouble. Yeah, exactly.

spk_3:   33:21
You said it best. We got comfortable.

spk_4:   33:25
Yeah, same thing.

spk_7:   33:27
But But now I think we've really It's obvious to everybody that we were quickly switching if we haven't already switched from the Sanders markers to a buyer's market. And now is the time that I think we have to go above and beyond for these buyers. Add value, things like what Chris suggested, you know, actively putting them in contact with lenders who are still in the game doing things like that. The days of just sending out an address on a wholesale price and then expecting it to be gone. I think that's a recipe for disaster.

spk_4:   33:54
So I would just

spk_6:   33:55
like a point here because I do a lot of relations with, um uh, charge a be partners And so when we're talking about, you know, the dispositions process, the acquisitions process, how we're doing our marketing, I think all of this comes back to play into why it is so important to collaborate. There are a lot of people out there like Chris made that point Very valid. We're very fortunate that when we started, we lived in a bubble until we went to Dawn's mastermind like we lived in a bubble. We did it all ourselves. We learned how to really work. Um uh, the seller side and the disposition side. So, you know, a lot of people that are in our market in V. F. W even though we working multiple markets, I find they really wanna Javy with us. I just walked somebody through. Um, you know, on that that was Jay being with us on the acquisition side, and we were working on the disposition side. You know, we turned up from, you know, a $5000 deal thio a $20,000 deal just because they wanted to collaborate. Just because we're pouring into that collaboration with people who may not be familiar. They did come into it already spoiled. They don't know how it works. So, um, you know when you're when you're joining in on these calls when you're joining on online masterminds when you're joining in, um, you know, even like directly reaching out to people, I think it's just so important that you learn from each other and you work together on in the true sense of collaboration. Like Steve mentioned that you are going in this Thio, um, win together to learn together that you're you're really having the giver mentality because I think that it gets you the 50% of the watermelon. I don't think such, um, people are as focused on making those pivots in their business to where you know, they used the word collaboration. They use the word work together, but But they're just really looking at the dollars and cents, and they're focused on the fear rather than what you can gain out of this. Because if you are like us, we it wasn't that big. It's not that big on like this, Possessed replied. To sit there and go, you need to go back to the basics of where we started, where we were really, really, really creating relationships with our buyers on the whole cell site where we were really, really creating relationships with our contractors. Were we really creating relationships? We have great relationships with our title companies, and you're really working that with other realtors, everybody else that you work with in this industry, including your competition. You know, this is where we all need to get back Thio not just being a service to the cellars, but really remembering that this is a relationship industry. Um, and you can do more together,

spk_0:   36:55
so I Yeah, because I actually I wanted to Segway to both you and Jamie because I know that we do a lot of J B deals. I know Jamie does a lot of J V deals and from the From what I've heard so far, it sounds like a acquisitions, and the marketing side of things has been pretty status quo. Um, if anything, the response rate has gone a little bit higher. Maybe not more deals, because we're all trying to buy deeper right now. But where the main problem is is dispositions. That's where we might see hang up right now. And if you have not been lazy, even though all of us on here admitting that we have kind of a little bit lazy over the past couple years. If if you know that you can dispose properties, you are immediately adding value two people that are out there requiring properties that might be stuck with those. So, Jamie, I can't want to do it to you. I know that you do a lot of J B deals. How are you approaching somebody and how are you getting people to come to you to bring you Javy deals? And was that conversation look

spk_3:   38:00
like? Yeah, So, I mean, basically, I think through the years, um, when I first learned how to, uh the whole cell, that was I think number one or two on my on my list of the coaching program that I did it, you know, it was like you have to get cash buyers. I didn't know better and I didn't look 100 different things, so I kind of was very focused. And so I have have a We're 55,000 people on my also gotten with three or four people in Dallas Fort Worth over the past few years, and we have, like, taken all of our list and, you know, like, added to one and others and things like that, which I think is that cool collaboration? Think so? You know, we we do have a really robust list, but when someone's approaching us with that, you know, it's it's a very simple conversation. We even have some email templates and text Simple. It's fact and forth because we do get approached with that often. And you know, what we do is, you know, we need it for, like, five days, and we're going to do our best to push it. We're gonna be in communication with them. I think right now and I keep hearing this across the board, I think everybody will agree Communication his key way. We're all human and the unknown. The unforeseen creates fear, which creates anxiety and stress and all kinds of other not fun of emotions. So I think as long as we're communicating, you know, with the J V partner and allowing them to communicate with that cellar, that that's probably the most thing that needs to be top of ain't is, uh, you know, the jayvee partner Sugar. But then you know, a lot of people come and they've only done two or three deals. Some people have done done this for 10 years and, like, listen, I'm really good acquisitions. I want to keep going forward. I want you to sell this for me. So it just depends on who were working with it. If it's someone we've done many Javy deals with before, or it's our 1st 1 kind of how that conversation goes. But again, the way that we set expectations with sellers, those same expectations need to be stuck with those J v partners like, Listen, it's a little bit different right now. I'm not saying, you know, difficult. It's just a little different, so it may take us a day or two longer to move something than it normally would. But we will make sure to be, You know, Kate, you move you guys daily. Let little tactic that I used to doing this, eh? And again, I got lazy. We used to put signs out around all of our houses. So between five and 10 signs, we have started that again. But we've got you know, the signs that we have all pre printed already anyhow, which you can use a marker or whatever. Home Depot is essential, so it's still open. You guys can go get your magic marker, the poster boards and steaks and put those signs around the houses. I think we all have heard that before, but we may have forgotten about it. Or it just, you know, doesn't cross their mind it. We started doing that, and I think that has been really helpful. Buyers that are still in the market and the LeDoux Hansel's in certain neighborhoods, they're more than likely going to drive by some of the rentals. They you're probably getting tired of being pens up and at least how to go the verse restore. And so they're gonna drive by some of their neighborhoods on dhe, talk to their tenants, face to face, even maybe, and so they'll see those signs. So that's just like a little tactic. But I think we can all implement. It's cheap and it's something that can really help move a deal right now because the fires that are actually buying that usually those type of buyers are specific with certain areas in certain price points and things like that,

spk_0:   41:38
so I want to ask an uncomfortable question for all of us here. Like, three weeks ago, four weeks ago, when we acquired the property and we were gonna wholesale it right? We knew we could sell it for I mean, we could squeeze every bit of juice out of that women. Right? So a lot of us were selling 80 78 80% air B, minus repairs in Phoenix. You know, Phoenix is insane. You are so known for, like, 90 cents, But its repairs a

spk_5:   42:07
map that

spk_0:   42:08
that that maybe not all the whole sum of where What adjustments have we made on our dispositions as faras, where we're trying to sell those properties that now

spk_7:   42:21
you you took that you took the thought right out of my head I was gonna add, Aside from dispositions, I don't. And there might be some disagreement, which which could be healthy, and it could be an interesting conversation. But what I my mentality and what I've told my team is on the disposition side. Now is not the time to swing for the fences, right? If anything, now is the time to get conservative and price your properties that but they move quickly. Now is not the time to sit on inventory and try to squeeze out every dollar. A mentor of mine years ago told me a quick nickel is better than a slow dime. And in this in this market that it could be a falling knife. I think you kind of have to guide that knife to the floor, so to speak. And you don't want to sit on inventory because that slow dying may never come. Nothing so

spk_0:   43:04
important in cash flow right now, right, Like wheat malt. Need cash flow on revenue coming through a door. So is anybody else kind of willing? The pitch in there on kind of

spk_2:   43:14
Yeah. You know, this is

spk_5:   43:16
here's, you know, unfortunate again. You know, I get lots of relationships and talking with flippers, and but the dynamic has changed, right? Like when buyers they're a dime a dozen, you can try to get 90%. It wasn't 90. Come on. There's only like 84.

spk_2:   43:33
But

spk_5:   43:36
but you know what? By her dime a dozen. You don't have thio. You can, you know you could buy deep and you can sell it and get big margins right? And that's the business model for the last three years. Uh, the dynamic has changed Alex it earlier. It's a buyer's market now. And a couple of clippers. I talked to her like I have every intention of beating the whole tone. It down to $3000 feet like you got. I'm the only one here. 90% of my competition is gone. Like we're switching roles here. Right?

spk_6:   44:04
Right.

spk_5:   44:05
And that wasn't one person. Two people I talk to you have that have a viewpoint. And I understand it because the Clippers have been on the wrong end for the last few years, right? Like they've been waiting for this opportunity. So I think a couple adjustments that, um that we're looking at for us personally. So I had someone reached out to me ah, few days ago. Who is, like, You know, I've been watching what I've been doing for the last couple years. Someone I look up to you. Andi, think Look, I made it through 2008. And then if it doesn't want, I want to share with you what you need to do right now. Ah, and he's gonna kind of pushed me to this uh, for the foreseeable future. Um, he hasn't laid out the road map yet. We're just We're still kind of getting started talking about you guys wanna follow this journey? Follow me on Instagram Esteve got tranq, But basically what happened is we're gonna have to be their best buyer sometimes, right? So we're still gonna try negotiating. Have you guys heard me say this? We're trying to buy a 50 55 60 maybe 65 cents on the dollar. Like that's what we're trying to go in for on the purchase side. But for us, we can't rely on making 15,000 on a flipper anymore. That was those days that I've gone, but they're not as around as much as they were before. And so if we want to make those 15 k time, if he's, we may actually be more like is making 15 20 on the hotel. And that's what I was doing seven years ago when Ryan I was, you know, talking a lot more. Back then, we were doing whole telling, right we were by it, and we was just bringing the cleaner and listed on the MLS. And so for us, we're gonna have to go raise more money for us to be able to take down more deal so we can buy our own deals. Maybe, you know, whole set where knothole? Simply

spk_2:   45:45
as much

spk_5:   45:46
as we were before. But also going back to the collaboration Javy model. If we're able to taking it down because we're raising the private money, then what? Someone says I can't move this deal. Hey, we're still here and we can buy it so we can buy more deals from our own marketing and weaken by other hole to it feels where they can't sell it. So that's our strategy for the next for the you know that too. Just what's going on right now As far as this position And again, I don't blame the Clippers. They've been on the wrong end.

spk_4:   46:18
They've

spk_5:   46:19
been used and abused for quite some

spk_2:   46:22
time.

spk_1:   46:22
I was one of those slippers. It was used interviews for a while and I'll be honest like you before, before I became a wholesaler, too. I was, you know, I was a rehab. I went through 2008 and I lost everything and rebuilt every knows my story. And so I'm a conservative buyer. I always have been. My numbers are my numbers. It's the box I live in, and that's it. And I would always tell wholesalers, you know, I'm not the guy who's gonna pay the most every time a guy I'm the guy's gonna always be here. And when I started wholesaling, you know, when I was drinking a little bit of the Kool Aid and I was getting crazy numbers for the properties that was selling, I kind of got it. All right, well, you know, why am I going to sell to the guy over here for 20 when I can get 40 over here from somebody else? It doesn't know what they're doing, so I get that. It's all come full circle, though, and that's that's the thing. You know, there's there's ego, gets out a check when markets are good, because you can make any mistake in the world and still make money. And this is gonna be the great equalizer. And I think it's just a matter like every said. Relationships are important doesn't mean those of us are going to still be standing there. They're gonna know what we're buying and why we're buying it, and you've got to make sure you're talking to us and find out what that is on the buy side of things, you know, the reality is it's gonna take a little while for sellers to catch up with what the market's doing. We're having this conversation, and I think you guys are two. Where they still think they're property is worth what it was three weeks ago. So there's gonna be challenges there. So I think it's just keeping your head up, you know, understanding that this is not about ego. It's about it's about working hard and working together, making sure you're going back to the core values, your core competencies in building relationships. I mean, I'm kind of saying what everybody else has already been saying, but I want to reiterate I've been in this game for 17 years. People. I lost everything last time around. I'm not gonna make that mistake again.

spk_0:   48:02
Quick. I want to ask you a specific question. We've got a question from Omar, and he says, If you're buying today, toehold, tell something. What discount should you put on the Air? V? So let's just throw out a random number say the air view was 200,000. According to the cops a couple weeks ago. What do you call in the Air V today?

spk_1:   48:19
Well, let me answer that broad that you get a look at your market. So, for instance, Fresno dropped about 25% right? The last time we had a market correction Vegas What was Vegas like, 50%. Who's in Vegas? I don't know. It was something insane. So, um, Florida was one of those insane markets that drops, you know, pretty heavily. I don't know what it waas, which

spk_4:   48:36
really

spk_5:   48:37
big. It was more than 50.

spk_1:   48:38
Yeah, I would look at your market and see what the worst case scenario is and just kind of see where you're comfortable right now in my market, I'm gonna ask for a 10% discount on a review. You know, I'm comfortable with that in my market, you know, and some other markets. You might want to get a little more aggressive in your discount, cause we really don't know we could. There's two things I feel like it's gonna happen with this. One is there's so much pent up demand in low interest rates that when basically this thing, that they opened the barn doors, right the markets and take off like crazy. And I'm gonna look like a crazy person for saying this guy's falling or to the fear that everybody's got jumbled up inside them is going to linger and it's this thing's gonna fall a little bit So we just don't know how far. I think two is the most likely scenario. And so for me, I don't think it's gonna be a 2008 crash, necessarily. But, man, I don't know. So right now, 10% I'm kind of comfortable with. But I would look at your market and look at your market did in 2008. Find a number that you're comfortable with.

spk_0:   49:32
So, Chris, I had the opportunity to interview you on my podcast, and you look like one of the smartest guys in the world right now because you started off wholesaling them with rehabbing new development. Now you're back in the hole sailing, so you hit all the right marks there. You look like the smartest guy in the world. What are you doing? It's foreign as calculating air views and determining where to actually buy, because I think that's a big unknown right now, right? It's like, Yeah, good price. I think this is, but we don't really know. So what are you doing?

spk_4:   50:00
So the make of a couple overall thoughts. I appreciate the compliment, but, you know, one thing I fried it myself on the last 10 years is I've done a lot of different things. Apartments, new constructions, flips. What have you have been very intentional about making sure I'm ahead of the curve. Right? Everybody thought I was crazy and thought I was losing my mind in 2018 when I started parting off my fixing flip business by the construction business. You know, selling off inventory, selling off lives, things of that nature. Uh, I just knew that things were had peeked out the market. I had a spot where it just wasn't supportive of going too much higher than that. Right? We're looking at things on a day to day basis right now. Extremely likely to find to comb. Um, you know, so, uh, my wholesale business, maybe the analogy is that it used to be demon marches right today. It's Wal Mart. Right? So it's you know, Alex in Steve's point. My business now is there is a value in business. It's not a specialty business. Uh, you know, specialty before was that, You know, we could get you the deals in the neighborhoods with a hot neighborhoods at the right price that she wanted to be in on we hit. You know, uh, doubles triples home runs on a lot of our deals. Our average deal profit was a net of 19,000. I don't see that to be the case going forward in the future. We're adjusting down against that. You know, one thing that I'll give everybody I've done this over the years on. I talked about it, my coaching group and stuff like that guy. You gotta look at a whole shelf If you want to maximize the dollar, the whole selfie. You gotta understand how to be creative and how to make adjustments in your business. You know, so one thing that we've done and we're going to start doing a lot more of this. So if we want to make a $10,000 hole, selfie But the reality is is that with everything going on, things that nature is probably, truthfully, a $5000. Well, selfie, what we'll do is we'll give a second on the extra five. All right, so we'll say. Look, you know what, Maybe $75 a month I'll carry a second on the other 5000 that I give you someone. Use that torture down payment or whatever the case might be. You know, be able to flirt yourself out for your first wrong with our money, and you can pay me back my five once the proper themselves, You know, once you flip it or when she refined it, right. So I'm still I'm happy with the five that I've already got. Right, because now I'm in a, uh Now I'm in a Wal Mart, right? I'm not needed markets anymore. So the Valium is important to me. All right, but I can also edge of my bed on getting another five in the future with some small residual income for the next 468 12 months. What have you on then? I still get my file in the back in, right. So if you do this properly, you can set up multiple scenarios that $5000 drops. You took that. Whatever it is that you carry us a second, you could have that kind of drop, you know, on the back, in different places. It allows you to build a relationship with your buyers, all right, Because you want to operate in their interests. So if your fees $10,000 you could say, Look, I'll take a few right now. Three. I'll carry seven for you. That way I could make sure you get into the deal. I know you're our money lender. He's making bring more money to the table right now. You don't let me help you with that s o when we talk about relationships will talk about how to interact. You work with your buyers, there's ways to go about it and be creative where you can kind of help yourself and still make more money in a long term on then and then also hedge your bet. Help your buyers. Right now, I'm still in active cash. Buyer of that problem is that at home on, I've got problems that I'm buying old feeling right now, you know? So in terms of a RV, we're looking at in two ways. All right, So we've got stuff and had this kind of that. If he section right where it's like, you know, we were swinging for the fence or trying to hit a double. We're clearing the books on it. If I could make five grand or three grand, what have you at this point, I'm perfectly fine with that. Um, Abby ticking by lenders paid. So they understand that you were in a good position. On the flip side of that, the new stuff. We're just counting that a R V, you know, for certain. But we're looking at that, and it kind of more than 10% you know? So we already by deep when I personally by something as a company, we buy TV anyway, so we're kind of getting those with 15 and 20% right now, and then we're being intentional about being patient. And so what I mean by that is I'm more than comfortable to build up my follow up bucket right now. And now, stress you worry too much about having me do a deal right now because we're gonna go through a period of, uh, two different things. One buyers are sorry. Sellers understanding exactly what the actual price of their property is right then. Number two, we don't Truthfully, No, What's in front of us? Right, Right. So when I say I'm taking it day by day, we're just looking at everything on a daily basis to determine what adjustments we need to make. It's like doing everything on the flood, right? It's like, you know, look, we wanted to target $10,000 a deal before. Now, that's 3000. Hey, today, that's 5000. But you gotta actively be on top of your business.

spk_0:   55:06
So I love that, Chris. And I'm gonna make my partner Ryan really happy here because he asked me earlier this week, He said, Hey, I don't want this to just be like it Come by on Everybody agrees. So I'm going to disagree with all of you. Okay, so I think everybody keeps talking about Hey, now is the time to make, like, a five or 10,000 you know, single on the assignment feet. I disagree. I think now is the time that we're gonna get back to having much larger assignment fees. And here's the reason why, up until two weeks ago, when I went on an appointment or I talked to a cellar. I was one of many people that they were talking to, and I was competing against every single person in the world, and I really didn't have any leverage. Now I have all the leverage in the world. When I talked to a cellar, I'm like, Hey, the world's ending like I don't know if you know that or not like we're actually shut down and there's a worldwide pandemic going on and you want to sell your house. So, yeah, I mean, last week I could have offered you 1 50 but today, the most I can offer you is 80 and this is the reason why. And I can go back to the historical data that Dawn's talking about where it's like, Hey, when this happened in the past, this is how much the house values fell, and I think that this could happen again. So it's my money, and this is the most I can offer you and that, just to be quite frank, the reason why I'm saying that is because I did it this morning. I mean, Cassie was telling me an offer. 1 45 on the house I want looked at it and I said, I'm gonna offer 1 25 now. We're still going to sell it like we acquired at 1 45 but we acquired it 1 25 And the reason why he said, is that the best you can do? And my response was yes, turn on the news. Do you see what's happening? You need to sell your house because of what's happening. Oh, by the way, that's the reason why you want to sell your house So you own the house free and clear. Do you want to take the 125,000 or not? And his answer was yes. Send me the contract right now. So playing Devil's Advocate there, that's why I feel like now is the time that I'm actually gonna be able to make larger assignment fees that I could two weeks ago. Does anybody agree with that? Or

spk_1:   57:16
let me just standing.

spk_2:   57:19
But that part of buying deeper right, that's way need to

spk_5:   57:23
negotiate lower, that the only way that's gonna happen,

spk_1:   57:25
you get away for the sellers to catch up with that a little bit in some markets, right and that's going to re educating sellers and stuff like that. You gotta be by in deeper. But again, you're going to Chris And what I said last week, we don't truly know how this is gonna flush out right now that the world has never shut down before. That's right. And that's essentially what happened. Right now we don't. This could be way worse in 2008 so I think just being being real about what the possibilities are, it could be a situation where we're gonna make a lot more money. We will make a lot more money. Doesn't matter. When When 7 2008 kind of hit 2008 Everything kind of stalled until about 2009 that it made sense to get in again. We had almost a year, our hands being tired. Is that gonna be the same thing here? We don't know. So that's where getting real. And I just want to say with Chris's idea about carrying the second I want that is gold and people need to be doing that. But I want to just share my experience in 2007 and 2006 and stuff when the market started to kind of cause the market in California kind of started a peak in 2000 stick. It kind of started to slow down around middle into 2006 and I started doing that. It wasn't wholesaling per se, but I was selling properties and people couldn't get finance for a certain amount sales and make like 100 grand. I would finance 50 in the seconds there are bigger deals in the five grand, right? But I would I would finance portions of these deals and seconds thinking I was speed and smart and setting myself up for success and that that money ended up basically disappearing when the market really hit rock bottom. Um, people, you know, people were, you know, going into foreclosure. They were doing the all kinds of things were happening, that money just disappeared. So well, you say hedge your bet. I just want to caution people that don't count that money and think it's gonna be there for sure. It's a great practice to do its gold. You should be doing it. But if this thing all hits the fan, that money may may go up into flames. you may never see it again, so it is definitely a hedge, and it's definitely a smart thing to do. But just don't count your chickens before they hatch. Isn't because I did, and I thought I wouldn't have a couple 100 grand a year. I get out of bed, close it for me all time, and it just went this and just disappeared. So that's

spk_4:   59:26
my personal. Yeah, you gotta look at that as bonus money assumed that it's what is it that it's never gonna come in and speak of Donna's point about the market? I think we're an unprecedented territory personally, Um, you know, I don't have people have asked me like my overall thought. I've talked my coaching students about it. I'm not fearful about the situation. That just kind of is what it is. I know that there's hidden treasure at the bottom of the ocean, right to use that analogy, that pirate bounty that you dream of when you look at the check treasure map on the other side of that situation that's at the bottom of the ocean, right? The reality, though, is is that we just dipped our head under the water all right. So you can't even see the ocean floor yet. And so the reality is is that you just got to see what's in front of you and work based on exactly what you can see and what you got. We don't know what stimulus package is gonna come out. We don't know the impact that will have all the data. I believe in data. I look at it every single day. All the data that we can see right now shows that it's a bad situation, right? But there's money to be made by far inside of this. You just got to keep everything realistic on not and don't think that, you know, tomorrow you're gonna wake up and singer out. Ah, way to make millions of dollars in the next 12 months. I don't know. That's really realistic, Right? But being intentional about what you're doing, what you are learning from people like on this panel over the next 12 months over the next 24 months is gonna prove to be very beneficial for you in your business is

spk_6:   1:0:59
for sure. I was going to say that. I think that that is, that is one of the most important key things. I think that we have to be ready to make adjustments at this time. Um, rather than sitting in fear, you have to be ready for anything and the market, like your buyers by staying. Chris, you said it perfectly earlier. Staying in touch with your by fires your private money with, you know, working with sellers. You know, I depending on the deal, on going like, Well, if this is going to take me three months, is this gonna take a flipper? 30 months? You know, maybe we we do need to be looking at a 15% discount. If, as a realtor, everything I'm listing right now is flying off of the market and B f w So, like staying in touch with your market, your buyer's your cellars or private money lenders. Those things are just gonna keep adjusting and adjusting and adjusting during these unprecedented times. And so you just have to be ready to make those transitions, um, as they come. And it might be every other day might be weekly. You know, I'm thinking, like, right now, you know, just keeping your son on the pulse of it and That's one of the reasons why these types of, um, gatherings, if you will Internet gatherings webinars with ease with all of these Panelists and all these different markets are so important. And you guys are starting to see how much value they're bringing because you know it is going to be a little bit different. Everyone's market, like Dylan, said, you know, we're going under shelter in place a different times. You know, I don't know that d f W is going to be hit the same way that Fresno is going to be hit or L A. You know. So I think I just really keeping a pulse in and talking to each other is is absolutely vital.

spk_0:   1:2:49
Cassie, I think you brought up a great point right there, staying in touch with your market. But what's the better? What's the best way to do that is by constantly talking to realtors that are listing properties. I mean, you and I are blessed in the fact that you're a realtor in your listing properties, you know, daily, weekly, whatever. And we're seeing what's happening with those and yeah, as of today, everything's flying off the market, right? We listed, and we have multiple offers. Full price. And within a couple of days now, two weeks from now, we might be sitting here on this call going. Holy shit! The bottom fell out like everything's changed, you know, like it's not happening anymore. But

spk_1:   1:3:27
what has that right now we're good. Yeah, well, those close to sort of make a jump. But that's that's another question is just cause you get in the office right now. Well, new lenders pullout. Wilbanks, go and solve it. We don't know that. So

spk_2:   1:3:39
So go ahead.

spk_5:   1:3:43
Go. We'll get there. Just ask Thio our days point, right? Like you're saying that we could buy. We can get increase wholesale foods, but I think it was acting the private money. Right, because you look at everyone like you're talking to And, uh, someone that had money in the stock market is Hey, you know, I'm looking to I'm investing real estate. Here's what My plan. This is what I'm gonna do. And, you know, if you can lend it to say 5% they would have laughed their butts off a couple months ago Now, 5% sounds amazing compared to the near zero we've had for the last 2.5 years, right? Just one adjustment. It's gonna change your mindset drastically. So I think that going back to you can increase the amount of money per deal. If you're well funded to be able t do that. And again, you know, if you guys want to find out what I'm doing, you know, like I said, send me a message on Instagram. Let me know that you're stood and finding out as I learned, uh, for my mentor,

spk_2:   1:4:40
I would have Mary. Thanks for sharing that. Wanna marry kind of something that I think? Alex, if you talk about, then what Chris talked about one of the best ways to market right now is to go after absentee landlords for obvious reasons, right? I mean, they are not gonna be getting rent

spk_4:   1:4:54
and all these kind

spk_2:   1:4:55
of issues. They're scared about what the market's going. So I applied this on accident. I was trying to hold sell a deal. It was an absentee landlord, and then this totally by accident. Chris. So I pressure you sharing this and I was trying to hold sell it to a buyer of the buyer said. There's no way on buying that thing since the governor said, There's a four month eviction stop all evictions like this tenants in there. How am I gonna get him out? There's gonna be a lot of properties that you guys come across where there's tenants on the property and you're trying to hold sell it. And what I did is I don't want to lose. The deal is he asked me if the seller we will into a cellar carry back in the cellar wasn't to Dawn's point. He hadn't caught up on the fact that this market changing so fast. So I'm stuck in the middle, like, should I gotta get this deal done. So I offered to let me take half my whole selfie. I'll do a cellar carries for my whole selfie. Once out of 10 it gets out. You pay me that whole second, I'll take part of that risk right now. I actually fell into that this week, but I think that Mary is kind of what Chris talked about. And then what? Alice talking about marking to these deals. That's something we're gonna deal with all these eviction

spk_7:   1:5:55
laws. Yeah, I'm getting creative, and I think that's one of the takeaways. I'm collaborating. Getting interrogative.

spk_0:   1:6:04
Something's wrong with your audio. There we go, the wires or something? It's

spk_2:   1:6:08
How about How about now? Yeah. Much. Yeah. Yeah. Sorry about that, Guys Getting creative is critical right now. I mean it. We're talking to a cellar now, about possibly readings letting the deal on their own house, you know, so like things that we wouldn't have considered off a month ago. You know, like every all cards on the table, you know, do what? Do what you gotta do. One of the things that we've done I love Christmas idea about doing the Southern carry back is we've you know, if we're not able to get a particular wholesale spread with the fire, we'll say, Hey, we'll work out a certain percentage once they actually we sell the property on the flip. So whether it's 5% 10% of their profits eso just think outside the box, get creative. That's what we get paid for it to solve problems and to get creative. Now more than ever. I think that's

spk_0:   1:6:56
all right. Guys. Flow. We want to keep this right around an hour, but for everyone that's listening. Hey, the Panelists took an hour plus out of their day. I briefly went through their interest. So I wanted to say that for the end, I want to kind of throw it to each Panelists final thoughts throughout any pitch for podcasts, masterminds. Whatever it is that you have that you're promoting right now, now is the time. And for everyone that's listening. Please hang out and listen to this because the panel is took their time out of their day to do this, they're an unprecedented time. So, Alex, when we start with you

spk_2:   1:7:32
thank you, brother. Appreciate the opportunity. You know I don't have anything to pitch. Yes, I along with Steve Cavanaugh, I run a hybrid coaching at Mastermind program. That is a combination of life in business. But really, I'm here to help guys. However I can. You know, four years ago, when I launched the Flip Empire show, it was because I genuinely get so much fulfillment from helping people, and that's why I'm doing this. That's why I'm here. So I don't have an agenda. I don't have anything to promote. If you guys want to subscribe to the Empire Show. I think you get a lot of value out of it. I share what works and I share what doesn't work. I share a lot of failures I fail on a daily basis on. I learned a lot from it, and then I share that on the podcast. So I just appreciate the opportunity. Come on here and kind of add my two cents. I don't have all the answers. I think everyone here would agree We don't have all the answers and we're figuring this out in real time, but it's been really cool to see the community come together. So and that's what I hope to accomplish through my podcasts wall. So

spk_0:   1:8:31
absolutely, brother, we we appreciate you taking the time and all the value that you had to the community. Mr. Acosta,

spk_1:   1:8:37
Man, Alex makes you look like the sham. Well, guy, if I pitched s so no, you know, actually, Alex and I started our podcast about the same time. It's funny because our colors are the same. And because I started what you're about October 2016 or so. I know that's where I started. So, um, it's been cool to watch a journey and every journey here. I think community's important, regardless, what community you're part of, whether it's next level online or you want to meet in person with something like what Alexa I was doing or an accused got something he's about ready to do. So I think it's important. Part of community Steve trains like like some good things going on. Surround yourself with smart people. There's a lot of givers in this community. Pay attention to who you're getting advice from, cause there's some fools out there, too. I think it's important Thio really just get advice from a couple of people and digest it, you know, and figure out what you feel is right and reaching out to me. Any time you can find an instagram at the real Don Costa, you could even email me at Donna Flip talk. I will respond as quickly as I can. I'm always looking to help and let people up as much as possible. So So I got

spk_0:   1:9:37
things done and you know, Don and Steve or two of my favorite podcast host out there because Donna is the reason why I got into podcasting and I'll never forget Steve because he always makes me look like the biggest jackass in my own internal mind. Because Steve, when he started his podcast, reached out to me and said, Hey, I've got this great idea for a podcast where people will fly out to me and we'll be in studio. What do you think? As a fellow podcast host? And I said, That's the dumbest idea ever. Dude, I know you. People show up on zoom calls. What are you talking about? You and given the flight of the Phoenix, what's like I remember tone castles like this guy named Steve had the dumbest idea. And now I disruptor so, Steve, a lot for years,

spk_2:   1:10:19
arguing really quick before Steve jumps in. If you guys want Aiken type everyone's instagram in the chop marks does for please. D'oh! Thank you. Sorry. Done. What's your instagram handle

spk_1:   1:10:31
at the real Don Costa.

spk_2:   1:10:33
Okay. Got you. Go ahead, Steven. Sorry about that.

spk_5:   1:10:35
Yeah, no problem. So, you know, on 100 points. Really? Well, time comment. Eso Someone canceled on me. Uh, our show yesterday and we're gonna have challenges the next few

spk_2:   1:10:45
weeks, uh,

spk_5:   1:10:46
for my show. So because someone challenged on me. Maxim ended my business partner. Hey, my show. We just talked about our business, you know, and what we're doing to pivot for, uh, for today's environment. So basically, we talked about how we're able to get the sellers to sell it to us at ah, at a lower price. Right? So you know how we're leveraging, Uh, you know, the current environment without calling it head on without saying, aren't you worried about the car in America? But having a real conversation with the homeowner explaining to the y your operators offer And so the entire video is just It's on, you know, it does represent YouTube and you go watch the show from

spk_7:   1:11:28
yesterday.

spk_5:   1:11:29
We're gonna

spk_2:   1:11:29
shoot. Exactly how are

spk_5:   1:11:32
our conversation has changed in the

spk_7:   1:11:33
living room.

spk_5:   1:11:33
It's an hour long, 50 minutes long. But how? Our conversation a living with this change, because that's something that you know, the cell training we do. We're really passionate about how to run the appointment, right? How to

spk_2:   1:11:43
actually talk to the

spk_5:   1:11:44
homeowner. And so we, uh we just shared just a couple of tweaks we've done in our business so that we could buy, you know, at least 10% lower our goals. 50% lower than we're gonna buy it for.

spk_2:   1:11:56
I'm here in Phoenix with this, So if you need a backup, I'm ready to go for anybody. E appreciate that.

spk_5:   1:12:02
The problem is the studio get down too.

spk_2:   1:12:04
People come from all over the place. Yeah, all right. Ryan Parry doing so added this That all our shit Jamey committed to talk about us. So she's She's

spk_3:   1:12:17
yeah, about all talk about next level. And what first of all, I do have arms. So everybody is like, you don't have arms. I know I was just trying to do this cool thing that Alex taught me, but I guess I'm gonna have to figure out how to do it a little bit better. And I think I'm in the car. But any out? Um, so you know, first, I do want to say to everybody on this panel, Like is giving their time. And I am so thankful for you guys. And we wouldn't bring anybody on unless we believe that they are in abundant mentality and have amazing core values. Everybody that's on this panel like does this business on a daily. We're in this grind with you guys. We're not thinking about it from five years ago. Some have been through the crash. Some have it, but no one's main line of inst you know of income is any of these, you know, coaching programs or masterminds or any of that. We do this because we absolutely love giving back and from someone who has totally done drugs in the past and that feeling you get that high. The only thing that is 20 times better is that high in that feeling of giving back for me personally, that's just a me thing. So I love giving back when I get a text messages says, Wow, that video you put out or the way that you helped me through that contract. That's why everybody's on today. That really is the reason everybody's on today because we wouldn't have them, you know, on this call if they weren't and I think that you can tell that from their abundant mentality the podcast they do everything s o Anybody on here is amazing. You should follow their instagram. You should jump on their Facebook or YouTube their podcast and just see how you resonate with right, like we all have different things that we bring to the table. But we all are doing it genuinely for more heart, because I can promise you it is not by any means our main line of income at all. So next level we created that because I'm a mom, I want to virtually be able to be with hot I end investors at any point in time, and I've been in many masterminds. I love them all, and I have great relationships with every single one of them. But at the end of the day, and especially now, I think it holds true is as we're all seeing. Virtual is an amazing thing to add on to what you're currently doing, or if you're an introvert and don't like to travel or you wanna be it all of your son or daughter's games or recitals. That was the reason we created next level at a very small minute price point, which is completely taken care of by your discounts that we offer. So again, I just really wanna put out there like this is because we want to give back and it means the world to us when One thing that we happen to say on a zoom color of podcasts or, you know, on instagram a quote that lifted someone up someday that's what drives everybody on this Paul. I can promise you a 1,000,000%. So, um, you know, everybody's amazing. You should follow everyone. And we're gonna continue to do these calls every week. And I don't know if that's gonna be forever every week for while we're going through this, I'm not sure. But again, we're only gonna have people on that. We, you know? No, I live and breathe abundant. Go give her mentalities and that's what we want to do. I think we've got a lot of people on here that show the community and that collaboration on and is one of their number one priorities. And I think now more than ever, we need to realize that not just in these times, but in all times. The best thing for everybody is to collaborate. We have amazing ideas, and we should collaborate and and joined forces and just share and be abundant because at the end of the day, when you lay down at night, that's what makes your heart happy, you guys, And truthfully, I know it does. So you know, let's let's can continue without and definitely check out, you know, next level mastermind and anything Anybody else has a going today as well.

spk_2:   1:15:59
Let me jump in row fast R J just to that point

spk_4:   1:16:01
for Jamie. She's not gonna toot our own horn here, but you know her. And I do these kind of

spk_2:   1:16:06
calls in. And I guess you two are Jane Cassie within next level. The zoom calls these very high levels in calls. And when all this is we said, Hey, let's start doing some calls and next level weekly to help our members. It was Jamie's idea to say, You know what? Let's a voiceless. Let's kind of take this to a bigger level of the public's view and let's help out everybody and let's get the highest level of people. We have some of our competitors. Let's just all come together, collaborate and do this for the public. So you normally we charge for these type of calls. In this environment, we're kind of putting money aside and saying, What can we do? It is to help everybody right now,

spk_4:   1:16:39
I want to kind of

spk_2:   1:16:40
give a plot, Jamie, for coming up with that idea.

spk_0:   1:16:44
All right, Mr Jefferson, Stage in years.

spk_4:   1:16:48
Yeah, man, I just want to shout at everybody on the panel. I appreciate you having me on r. J. I like what you guys were doing. Um, now, look, this this going for is gonna take a community effort. The beautiful thing about this that's different from 2008 although we don't know what the horizon looks like. And what have you is that there's a lot of building going on. There's a lot of synergy going on, You know, I'm looking to protect and work through issues in my business, just like everybody else s. Oh, these these webinars. You know, Q. And I have connected and talked a few times, and we're working on different things of connect with a bunch of people around the country that we're working on stuff with and most importantly, just having conversations about you know, what the justice were making the different things that we're doing. If you're new in the business, take advantage of this eyes is a super aborted man. I wish I had something like this when I first started my business. Take advantage of this jump on these free calls, send messages. My instagram is in the chat already of the Chris Jefferson on Instagram. Shoot me in the AM I'll get back to you whenever I can, But now is the time to lean on each other is a community and how we move forward through, You know, whatever is coming over the next couple of months over the next 12 months, whatever the case might be My encouragement, everybody is no matter how difficult the times get as we move forward with everything that's going on. Uh, what you have to keep in mind is the most important thing right now is to get to the other side of it to get the other side of the health wise on health wise before your business. All right, I've talked to my team. I thought of my team yesterday, Uh, my the thing that's important to me eyes, not money. Um, I started with no money. I could go back and I haven't any money again, and I'll get it right back. That's not a stressful for me. What is the stress for me is making sure that I'm healthy, gets the other side of the situation. And it's a serious situation of growing a virus to make sure my team gets to the other side of it. My family, their families keep your mental sanity through this situation. Uh, you know, and get to the other side of it. That's the important part right now. Be knowledgeable. Learn if the information that you need so that when you do get there, you can fully take advantage of that. Maximize the the opportunity. But none of that matters if you don't get there. So just just stay on top of things. Stand portent. Take this stuff seriously, man. That's coming up the CDC of sheltering in place, you know, washing your hands, being protective of your environment. Please do that because that the quicker we can work through this and get to the other side of things, the better. It'll be for everybody. No matter what you encounter in your future, make sure you get the other side of you got some scrapes and bruises. That's all right. I know plenty of people that took a beating, Don said He took a beating in 2008. Great recession. It looks happy healthy these days. All right, so it's not The end of the world is just money. All right. Just stay focused, man. And there that you can prosper. If you want to join my Facebook group, you're welcome to do so. Wholesale houses supercharged. And you can check out start wholesaling houses dot com if you're looking to be your first year. All right.

spk_2:   1:20:01
Thank you, Chris. Guys, I hate to interrupt. I don't know. We don't want to make sure this whole thing goes around, but it's my son's birthday, so I really got to get off here in a second and a virgin. Happy birthday. Thank you guys. He's four, man. It's crazy. It's crazy. But I really wanted to do this. I want to provide value, Want to serve you guys. I've hung out with pretty much almost everybody in this thing, except for the exception of ah, Don and a couple of other guys on here. But, you know, thank you, guys. It's awesome to meet Shaw. You know, I'm a ton of fun, literally so I like to I like to make lighten up the mood a little bit because this is all serious stuff that's going on. And I've been dying to do this. I really want our speakers to cooperate with this, Okay? But I'm gonna play this theme song, and I just want to record this and it's gonna be a Brady Bunch thing. Can you guys point to the person to your left and then look down and look a a a Okay, hold on. I got up on my arms e like you.

spk_3:   1:21:10
That was cool. That was cool.

spk_2:   1:21:13
I just do that real quick, and I'm gonna post that all over social media A like a hip hop song or something. Like getting us, you know, great radio. So, guys, uh, for everybody that's watching this right now, remember, it's not the information that you receive. It's how you choose to retain it. You heard everything from private money on this podcast. You heard everything from, you know, players that are actually doing the business. People that are doing flips. Still that of purchasing properties. Still that air rehabbing property still, And this is something I want you guys to understand. Okay? We all have something unique to come to the business. Right? And one of the things that we started off with with this right was about cold calling. So in my Facebook group, guys who could join my Facebook group whole selling houses ground zero. We're gonna be doing a cold call webinar next week on how you can call call properties and use the Kobe 19 situation to your benefit. To be able to provide a solution to these sellers that could be on the, you know, on the fence with not selling. You get what I'm saying. So this is a free weapon, Arc, you're wanting to join this free webinar This recession, no way they're gonna have access to it is if you're on my Facebook group whole selling houses ground zero. We're gonna basically break down how you can properly call call some of these leads. But guys, remember this. It's about how do you retain the information? Not just what you heard. So, uh, again thank you all so much for having me a part of this. Guys, don, everybody Jamie, all you guys, it's amazing to see you. I gotta get to my son's birthday right now. Love your God bless you all. Stay home. They save

spk_0:   1:22:38
you some iron man goods are on the way. FedEx said 10 days. Thank you. Go tell your son. Happy birthday. Que Cassandra, Do you have anything to say before we hop off here?

spk_6:   1:22:51
I just want to thank everybody for taking the time to just bring their value. I think that there's just so many unique perspectives that come from unique experiences. I always say this that, you know, that that is one of, like, my core values is to just kind of be prepared for anything. Always be learning. And so I am so grateful that we live in 2020 when our world is facing something like this, that we're still able to come together. I think that, um, all of you guys are amazing. And like Steve said, I'm very grateful to be, um, partners with, um, and a person myself that attracts, um, these people to to my circle. And I appreciate everybody who's registered and and is joining this cola's. Well, um, and I just wanna I would encourage all of us to just keep that going.

spk_0:   1:23:50
So final words Thank you for everyone that attended we're gonna make sure we e mail this out to everyone that registered. So you have a copy of it? You could go back in reference. All of the great tips for people that are listening. They don't know who I am. Check out the titanium vault podcast without that podcast. I would not be sitting here today with each of these amazing Panelists. I wouldn't know Ryan. I wouldn't know Jamie. It would know Steve or Don or Alex or Chris Or Q. So I'm super passionate about the power of putting yourself out there, and and just that's what's enabled us to do this today. And if you're sitting there and you're kind of on the fence of whether or not you should put yourself out there, I challenge you to Now is the time to start documenting your journey. Um, what a better time. We don't know if this is gonna be one of the craziest, most historic events in our lifetimes. What a better time to not start documenting your journey right now. Don't worry about creating it. Like Gary V says, Just document what you're doing on a daily basis. That's what all of us do, and seemingly people like to hear it. I can't believe it. I don't feel like I lived that at exciting of a life, but people like to hear it. So check out my podcast. The titanium vault. Thank you for everybody that attended. We'll see y'all next week.