The Titanium Vault hosted by RJ Bates III

Quarantine & Collaborate

April 16, 2020 Next Level Mastermind Episode 124
The Titanium Vault hosted by RJ Bates III
Quarantine & Collaborate
Chapters
The Titanium Vault hosted by RJ Bates III
Quarantine & Collaborate
Apr 16, 2020 Episode 124
Next Level Mastermind

On April 8, 2020, Next Level Mastermind hosted a live webinar with a panel of guests including Brent Daniels, Steve Trang, Alex Joungblood and Jesse Burrell. They discussed multiple topics about how they are pivoting their real estate investing businesses during the COVID-19 pandemic. If you enjoy these free webinars that Next Level Mastermind has been hosting then try out a free month trial of Next Level at https://nextlevelmastermind.com/flipp... to join the #1 online real estate mastermind.

Show Notes Transcript

On April 8, 2020, Next Level Mastermind hosted a live webinar with a panel of guests including Brent Daniels, Steve Trang, Alex Joungblood and Jesse Burrell. They discussed multiple topics about how they are pivoting their real estate investing businesses during the COVID-19 pandemic. If you enjoy these free webinars that Next Level Mastermind has been hosting then try out a free month trial of Next Level at https://nextlevelmastermind.com/flipp... to join the #1 online real estate mastermind.

spk_0:   0:00
foremost, though I want to thank everybody who showed up today. And who is on this? Uh, this Webinar. Thanks for showing up, and hopefully we'll make it worth your wild.

spk_1:   0:11
You know, we

spk_0:   0:11
wanted to do this on behalf of next level. Basically, because, you know, this is a rough time for everybody, for so many different reasons. Even if it's not you, I would appreciate it. I would think you would appreciate just what's going on in the world, you know, and have some empathy for other families and things like that. Nothing. In times like this, we should always, you know, hold each other close and try to lift each other up and relate, you know, show that abundant go giver mentality and community. And so it was that being said, I wanted to bring people on that I thought, really embody that. And they embody that not only now, but they embody that every single day. And they have since the day that I met them. Um, luckily, everybody on the panel, um, today I've had lunch with had dinner with, been very good friends with for years, something like, I know them all very well and I'm really excited to have them all on instead of me introducing you guys. Because last time I think I did it like to go home. So I just want to kick it to y'all. Just throw like a quick inter about If you are what you do for anybody that's on the call. That may not know what the end. You can kind of let everybody know, like, where to find you out and stuff like that. But we'll start with a little Brent, Jessie, Alex and Steve in order from where I can see you guys go ahead.

spk_2:   1:24
Everybody, it is. Ah, it is an honor to be on a panel with everybody here. Um, no, you guys all love you guys. All this is gonna be really great. I think that this is all for the participants, Andi, Just to give a state of the union and really give some inspiration and be a shining light in not only just just go with optimism,

spk_1:   1:44
but go with real

spk_2:   1:45
results of what's really happening right now and what we're seeing so on from Phoenix, Arizona, and excited to get this thing going. So thank you, Jamie, for organizing it and putting us all on here together. It's gonna be a fun hour. So strapping guys, take some notes, Um, and we're gonna get a CZ authentic and real as possible. So yeah, that's it. Thank you.

spk_3:   2:11
Jesse Burrell, Also out of Phoenix. Jamie. Thank you. Thank you so much for having us on. And everybody that's on this panel. You are all monsters. I'm one of the owners of bad skip tracing batch leads. I've been wholesaling for about six years, starting to get into some new development projects which little bit concerning with today's market. But we could talk about that. There's always ways to pivot. There's always ways to keep crushing it. So thank you. Thank you so much for having me on a

spk_5:   2:41
guy. Alex Youngblood. Wholesaling houses full time. Probably know me from there. I would imagine I'm honored to be on the panel with everybody. I feel like I need to move to Phoenix or something, cause, like, Brad, Jesse is Steve. I'm, like, all way on the East Coast cell, but no good to be with you guys. These things are awesome because they give you reald data. Everybody's all wrapped up in the drama right now, so focused on the data, not the drama, and that's what's really going to get you through it. People are still buying. People are still selling. You just have to pivot and you just have to shift a little bit. And that's fine because you know what happens right now. Everybody's been on Easy Street for the longest time. Those people who are not committed, who are just looking for the easy fix, they're going to get out. Competition's gonna be less and sellers will still need to sell. Buyers will still need to buy. I've been through the eight recession. In fact, I went wholesaling houses full time in 08 which is the name of my group, obviously, and that's where it came from. Actually, it started with the name wholesaling House is in a recession, believe it or not, and then changed the whole selling houses full time. So definitely been through a recession. And that's when I got my full time start. So champions and warriors air made during these times, you just gotta ask yourself, Are you ready?

spk_6:   4:07
I don't know how men full of that, but I think Frank, I got a podcast. You'll stay disruptors. I had many guys on the show already, Um, and, uh, in Phoenix as well. Um, got a brokerage. Uh, Jesse and Brandt are to my best looking agent in my office attire brokerage. And I'm just passionate about entrepreneurship. You know, I look at I've always said I loved everything about about realistic for the houses and the people. Uh, so I'm just really passionate about about running businesses and leading an entrepreneurship. So I love, you know, being involved in honor to be here because we could, you know, give, which is what I enjoy doing the most

spk_0:   4:51
thanks so much. And I have to say, like, I love everything that you guys said was huge and amazing. But when I first got into this business, I learned from wholesaling, which was Tom and Cody, and then burnt Daniels, you know, is a big part of that. And that was something ingrained into our heads. Is Dad and not drama? I think that's huge, like it's about the data, not drama. And the news and your neighbor and everybody on my floor in my office building is all about the drama right now, and I get it. We need to be aware. You know, I don't think that we need to act like this isn't going on, but I think that this is the time where we collaborate. We go full steam ahead. Because, as Alex said, this is where wealth is made. And I think that it's great that he's been through the downturn. Steve, you went through the downturn as well, right? Burt, you came in

spk_6:   5:41
one of my breath.

spk_2:   5:43
I started in 04 So, uh, I've been Yeah, it's been a while,

spk_0:   5:47
Jesse, have you as well?

spk_3:   5:49
Apparently I'm the newbie here. I started, like, 12. Okay,

spk_0:   5:53
that's beautiful. Have you know three out of the four panels that have been through this? Because, I mean, at times like, this is what I laid out my entire business. I cut $50,000 worth of expenses in November because I was already planning for maybe not even a crash, but a leveling out. And I just wanted to make sure that I could pitch it quickly. And R. J's mentioned being in a huge, you know, cruise ship versus a paddleboat where you could just pivot really quickly. I'm in that pivot position. And so when this happened, I wasn't freaked out because I had already prepared for it. But on Lee, because I'd had amazing mentors that had been through these things and gave me that warning. And I listened and I paid attention. I didn't think I was invincible. So I just want thank you all for the value that you're gonna bring today. And you know what you've been through. And I just asked everybody listening like you guys, There's gonna be some good value here, and you need to pay attention to what they're saying. They've been through this. They have experience. So let them help be a guide to where you're moving, you know, forward because we're all gonna move forward through this. Okay, so I just want to put that out there. Let's go ahead and drop any questions that you have in the chat box that we definitely want to address your questions. That's important because that's what we're here for us for you guys, not for us. So if you could drop any questions that you have, we're gonna do our best to get to every single one of them. But if you want to just kick it off right now, I'd like to hear, um, I think it's It's good to kind of get a market temperature of what's going on and what everybody seeing in their business. So let's reverse that and let's go. Steve and Alex and then Jesse and Brent and kind of just let us know what's going on. I know you guys are in the Phoenix market, but we still have different businesses and different systems and flows. So go ahead, Steve.

spk_6:   7:35
Uh, yeah. So I would say that for us. You know, one of the things that separates us we're meeting with the homeowners is that we commit. You know, we don't do the thing where we cancel and at any point, rather than we give him price like we will pull sell the world by at that price for us. One of the things we've done is we have to buy deeper, like that's just the only way we can move forward, answer without having to buy deeper truthfully. And they were buying fewer deals. Um, that's the reality. And one of the reasons why is that? Yes, fired. So buying, but you want a discount when they're buying. And so one of the things that we're pivoting is we're starting Thio raise private money on her own. Um, you know, I think that well, I know it. When I first got started, I got in the hole telling because I was buying houses to flip. And so I was flipping terribly, but slipping before I was wholesaling and only reason why I thought of also because I ran out of money, right? And so for me, I was whole telling back then before whole telling with the term and my as exhibit, I think that one of things we're gonna look at at the dynamic change between the whole cell in the flipper as we're going to start taking more deals down to maximize our margins, that we can't do that if we're not well funded. Those Morris pivoting. That's what we're doing because the conversations have changed with the end buyers.

spk_4:   8:54
Hey, Steve, I got a question for you on that. You are a huge proponent of education. How have you developed your cell strategies and how they changed by deeper. What have you done differently to help you by deeper there.

spk_6:   9:11
Uh, one of the biggest thing right now is you know, a lot of people are putting corona virus causes, you know, in their contracts, but I think it's smart. I think any responsible business owner needs to do that a same time. I like to go against the grain, and so you know, when we tell them we're gonna commit we that's like a shining point, right? That's, like what, like the biggest bullet points and are at a presentation, but our conversation And so we'll bring up, like, you know, when you talk to the other, get the other investor. I don't suppose he had anything in their related Thio Corona virus where they say they can cancel in 30 days, 60 days, you know, natural disaster, whatever you wanna call it. And though and they say, Oh, you know, I don't know, let me check. Or they did. Yeah, you know, how do you feel about that? And I'm not gonna say that The crap you've moved, right? I'm there. I'm there the Birdman competition without burning them myself. Right? Allowing the homeowner to do that. And so I'm going to say you know, How do you feel about that? And they're gonna say, Well, you know, I didn't think about it that way. And so when in 36 days when your when your back or pack your truck is full and you're waiting for that money and they cancel on you house, like in the field. And now we're bringing that motion and they're gonna feel that emotion today and say I don't suppose to make sense to work with someone cooking, guarantee you and commit to you a number today that you can rely on where that money will be in your bank account that day. So for us, you know, we're in Phoenix. We love each other. Love, Jesse love, love all of our Phoenix fellow people. But in that house, I'm there the way.

spk_2:   10:50
Wait, guys, that that is phenomenal. I mean, Steve, just incredible. I love everything that you just said. That was That's really really, really smart. I love it.

spk_5:   10:59
Friends taking notes on that. Yeah, I'm

spk_2:   11:01
taking it over now.

spk_0:   11:03
I just want to ask you because you did mention it, you know, kind of a way that you're pivoting right now is definitely raising more private money I wanted to bring up If you don't have any private money right now and you found a deal like you guys network with people in your area and gravy with them Don't lose out on it because you don't have the money. Like everybody on this panel will definitely, You know, come in a deal with you if it's a good deal and help you out in some way, shape or form, and somebody for sure in your local market will do the same. So don't think I don't have any promised money. And what if I can't get it in two weeks? No big deal like you're not missing out. But they did ask Steve. How are you raising private money? And maybe if you just want to touch on a few things you're doing I know Susan lasted or Lions has a good book. Did I say her name? Right, You guys, I'm sure you've already There you go. Okay. So she's got a really good book if you'd like to read that. But see, will you will you let him know, like, kind of what you're doing right now?

spk_6:   12:02
Yeah, sure. So I have a mentor who has been through two of these. You know, he made a 50,000 won for 2008 and he's actually known as the Storm Chaser where he'll go wherever things are bad and he'll just set

spk_4:   12:15
up shop

spk_6:   12:16
in those markets. And so he has been through a couple of these and so you know, he's He's given me some tips, and I've been sharing them on Instagram and YouTube, my Facebook. But one of the things is going to the Chamber of Commerce. You know a lot if you go to the Chamber of Commerce. A lot of those guys, their business owners, they've got money and they think outside the box. You know, if you talk to someone that got a regular W two jobs and there's nothing wrong with having a deputy job, but you're kind of in the mindset where you're just gonna put the money into your 401 K, and that's just going to be there when you retire. And that's just the mindset. Where you talking to a business owner? Uh oh, are you know, cola Realtors or talking realtors? They already got their own retirement. They're thinking outside the box you can talk to people about buying investing in real estate were secured by real assets. And that can actually be doing I'm gonna be doing, uh, a call on a couple of days on Friday at noon. My time with my group. You know, the guy that's been through these could be this reckless dot com slash private money. And he's gonna talk about all the different things that we're gonna be doing for that.

spk_0:   13:22
That's awesome. Yeah, I share that with me and I'll sure that on my Facebook page, And I'm sure we can all share that. So anybody conjoined? Um, yeah. Thank you so much. L e o. Who is

spk_5:   13:38
Alice? All right, that's it. Thank you. Okay. Um, yeah. So right now, I think there's a huge opportunity because nothing's really fallen apart just yet. So what happens when a market falls apart? Foreclosures. If you look at 08 foreclosures, foreclosures, foreclosures, foreclosures right now are on a moratorium. They're being held off so you can look right there. There's about three months that's been bought ad on another three months for processing. That's another six months, and then add that's six months and add another three months and that's going to get you to nine months when that first foreclosure starts to hit. After this whole mess happens, right? So we've got about nine months. I would say before we start to see prices starting new go down, which is when the market starts to go down. So there's a really good window, a really good opportunity in this situation, if you can get in and out of a deal very quickly. So I always love holes, whole tailing. I like buying a house like closing on it. I like putting it right back out on the market again, and right now it's a perfect time for that because people are still looking for houses. I can personally vouch for that because I was recently sold two different rehab properties that that would that we've sold, closed on, brought the money back into the fold. It's always nice to see it come back again in the and the market. Demand is still there and even more right now because homeowners are saying No, you can't come in my house. I don't want you to get me sick so they're pulling their house is off the market, which increases the demand for the other houses which our investor houses that we flippers air putting out there. And now you can come look at this house. So that's a huge opportunity right now to be able to get in and out very quickly. So private money is a really big asset in this time. I've always loved private money just because it gives you so much power not to be in a situation like Oh, crap. I can't assign this deal now. I'm dead. So pivoting right now would be Definitely if you could get in and out of deals very quickly. That's Ah, that's a plus on the on the sales side of things wholesale wise, you really have to make sure that your buyer's list is up to snuff. I always tell people foreclosure auction buyers right now are huge, mainly because of three reasons. The reasons are number one. No more foreclosures. No more inventory for them. Number two, they always pay the most. Number three, they will buy properties without looking at them. Perfect recipe for right now. That's the way we're pivoting,

spk_7:   16:27
Alex. I'm gonna I wantto go back to something that you said that I thought was brilliant, which is, you know, the house is that we're putting on the market, are now suddenly becoming more attractive to the retail buyers because they're vacant. Um, you know, casting. I've seen this where we put several houses on the market quite a while ago. They were in price points here in D f W that were relatively slow. It was part of the correction that we were seeing. It slowed down. Everything happened with Cove in 19 and then also are showings went through the roof. And then, lo and behold, we're actually contracting properties that I was in here going. I

spk_2:   17:07
don't know what we're

spk_7:   17:08
gonna do with this literally, Kevin. The conversation with Cassie, where I'm like, maybe we should just refinances and keep it as an Airbnb. And 12 months from now, we'll put it back on the market. And then next thing you know, two weeks after everything happens to cope in 19 were under contract, and I'm like, How did this happen? And then that's when it started out, like what's vacant. That's why in literally realtors, we're calling Cassie, saying Hey, just want to make sure I see this property stage. But it's vacant, right? Yes, yes, it is. Okay, we're going to see it right now so

spk_5:   17:37
that everybody needs to pay attention to their active listings. Pending listings. Sold listings every single day because you can really put your finger on the pulse of what's going on in your market for me. They're still more selling that then that is coming on. The market is new, so you watch. That's just like watching the stock, and it's kind of funny. My dad's was getting into some day trading on stock market, which is crazy because he's, Ah, blue collar New York City sanitation mechanic. And here he is with this phone doing, you know, day trading and stuff. But it's like he's been teaching me some of it. It's like you watch it, you go in, you get out, you go in, you get out real quick type stuff, um, and watching and you can see it right before your very eyes. You know it's going up, then it comes down, right? So the same thing. Watch your pending listings. Watch your active listings on, and that's really going to tell you things were starting to look a little, you know, stacked on the active side. So we got to kind of hold off a little bit right now, pending czar up. Soldiers are up, and it's just because the situation we're in so get in, get out, get private money. Even better,

spk_0:   18:48
I like that. That's good. And a quick question. I want to answer you. Shelby. I'm said she's still looking for steel. She's found a lot of good opportunity and asked that if she finds something, is that when she would seek out private money? So Shelby, you want to go and start seeking out private money? Um, and there's a lot of different resource is I mean, the book. And then you heard what Steve said again, there is definitely wholesalers in your area that are more than welcome to come in and help. You kind of threw some of these first few deals. You know, if you're serious and you're really bringing them deals, that will help you through that. So, yes, you do want to get private money, but you know, really, you you want to get that deal because that's gonna help you also get the private money and BJ be partners. But you want to do that in the background while you're looking for Gilles as well. So I will kick it over to her. We're going to Jesse.

spk_3:   19:39
Yep, it's hard. It's hard to follow these guys. I mean, Steven, Alex, just with so many nuggets that they're dropping. So I just want to add on toe what they talked about because, uh, I mean what they're saying So awesome. So I want to touch, actually, on the list side of things. Steve talked about the sales. You know, Alice got to talk about what he was talking about. And I want to talk about what type of property owners who would want to go after a swell right now. And I think, um, you know, obviously owning a data company helps, and I'm able to talk to a lot of people than able to dio a ton of research is I would be targeting vacant and absentee owners is definitely the way to go. Absentee out of state's gonna be the best. Those air landlords that could start having somewhere to stress sooner As Alex was alluding to you in the next 369 months and then, obviously with the Bacon stuff where R. J was alluding to If we could get access to a house and then be able to showings to those buyers that still are buying in our markets, that that's a great way. But the secret sauce on all of this you guys is make sure at your polling list if either they've owned it for a long time or free and clear, or people that bought from 2009 to 2013. We need equity in these homes because prices have dropped and people are buying deeper. If there's no equity in your targeting somebody that Baden 16 17 or even 18 there's not gonna be enough to sell it unless you go on the creative financing side of things. So I think those air a few very, very important things to take into consideration right now. I also want to say that we put a house on the market two days ago. We obviously flippers. Well, we got two offers yesterday. So alluding toe Alex Zanardi was saying bones are still moving. And then during this since the Corona virus started. We got a property under contract. We sold it last Friday. So we got on contract. The 15th sold it, you know, a few days a week and 1/2 later. And we made a $40,000 Simon Fi closed, as I said just a few days ago. So they're still deals being contacted and closed. Right now, you just have to know where to look for.

spk_0:   21:50
Yeah. I appreciate you letting us know that, like, Chris listings that we put out, we got multiple offers within 24 hours. My team has locked up three deals this week. Good, solid deals. So I think that it's important to be around the right people right now that are telling you the truth and the positive things going on on and being prepared. So I will throw this to burn it.

spk_2:   22:15
Hey, OK, All 273 participants and this wonderful panel let me transport you guys into a fantasy land. This is called 2012. Where when you made a call to a homeowner, they were actually friendly to you. They were actually kind to you. They would actually listen to you or you sent out mail and the calls coming in weren't. Hey, I'm going to kill you if you send me any more mail. Well, guess what, guys? That time is back. I am telling you, Let me give you some facts here. Contact rate for our business went from 6% to 12%. Okay. Leeds went from 40 a week to 90 a week. Deals went from one or 2 to 3 or four. Okay, this is real data. This is inside of our company right now, and we just gambled. You know, as soon as I heard that Zillow offer pad an open door, our post bar are shutting things down for right now, I said to my team, put out, Send out some mail. Let's test this out. We had an average before in Phoenix of a 40.3% response rate. The last two weeks, we've had a 1.2% response rate. That is four times what we were before. Now, listen, I don't know how long this is gonna last in my mind. I think it's going to go into June. Who knows? We're in Phoenix. We're talking about this before Cassie and I were talking about this before that. You know, hopefully when it turns into a 1,000,000 degrees here in Phoenix and the surface of the sun, this thing goes away like other flues and cold. But who knows? Somebody ate a bat, and here we are. Okay, so nobody knows what the hell's going on here. So let's let's focus on the things that we can control leaking controls, a couple things. The first thing I think you need to control is the conversation within your household that goes something like this. Hey, honey. Hey, Children. I am committed right now to my business. I need from one o'clock to four every single day. I need to be able to get away from the family and focus on talking to people, having conversations and squatting up with the best people in my market so that I can find opportunities for the family and your family goes Okay, well, we'll see you've said this before, but then go into your room and watch Tiger King Nice. Then then you actually go and you actually perform and you actually are on the phone and you're actually taking action during that time between one and four that you said that you were going to commit to this business. Now, all of a sudden, momentum start to starts going. You start getting really good traction, your business, your family believes in what you're doing. And you start building your business during the craziest pandemic that we've ever experienced. That the world's experienced in modern day and all of a sudden you're starting to chip away when other people are falling apart. We've got 276 people out there, guys. There's 350 million people in the United States. I guarantee of 10% of those people need help right now. That means each of us can do 14 million deals in the next 90 days, so there's plenty to go around. Okay. You need to get good data at skip tracing dot com. Jesse will hook you up. You got to get really good. Daddy, you gotta get really good lists. And for the first time in a long time, we can't abuse our cash buyers. Okay? We actually have to be. It would have some customer service with them. We need to ask them what they're looking for. We need to ask them, Are you buying properties sight unseen? I had a conversation yesterday with Chris Arnold and he's in D F W what he's doing right now and I think this is absolutely genius is he is getting on a zoom call on phones with the cellar and directing them where to go with the phone and recording those and sending that with every deal that he's sending out. I think that's brilliant. I said, What about the old people that have no idea? He has a courier dropped off a loaded iPad where all they have to do is press a button and they're on a zoom call and they're walking around the house. These are the things that we need to do one to stay healthy and to to be creative. People will still buy deals right now. People still have to buy deals right now, but we have to cater Maur of our efforts to the customer service and the relationships that we have with our private money lenders and our cash buyers than ever before. We have to take it serious. We have to get our family on board and we have to enjoy this time because for the first time in a long time, I don't remember who said it. But somebody says I don't feel like a predator. I feel like I'm actually out there helping the community. And that is an unbelievable feeling that we should all be having right now. And that's why we're gonna win all 273. Plus this beautiful panel we're gonna win during right now, right now, because we're gonna take the action. We're gonna be in there, so Oh,

spk_7:   27:29
I have a man crush on Brand Daniels and it's big, Beefy man arms. I love you so much. But I wanted to ask a question because I saw this in the Q and A. And I think it's a really good question that kind of, you know, transition a little bit. Someone asked, You know what about? We're going after these vacant houses, absentee owners and we're getting a lot of landlords. What are we going to do with the tenant? The houses where we're talking to the landlords and the tenants aren't paying rent right now? How are we doing the sales approach with that? What's the conversation like and how deep are we trying to buy in that regard? I mean, that's a That's a new situation that we've never had to deal with, where it's like You can't evict somebody. So how are we handling those situations right now?

spk_2:   28:14
I'm totally avoiding it 100%. I'm no recording all that.

spk_3:   28:19
I'm not good stacker and I'm factor and, you know, 345 months of no rat and put that into your offer like I'm so buying stuff attacks on there because we're getting that super deep. And then once this market's just back up, I have a great castle in rental property that I got for 50 60 cents on the dollar and I know other people are interested in. If you build it, I mean, breakfast bread doesn't want to do that. That's his modeling, and I was totally fine. But I am totally open and have some buyers. So it's all about your buyers, I think is what it comes down to it. If you talk to your buyers about this, then I think they're gonna be okay with the short term loss. Forgetting something at 55 cents on the dollar that's gonna rent way better than it. Waas, um, you know, just a few months ago?

spk_5:   29:10
Yeah. Like I

spk_6:   29:11
said, it's just price into the risk.

spk_4:   29:13
Okay, You could also add a cellar. Hold back in escrow that if the tenant doesn't move out by August 1st, you know, there's a $10,000 reduction than the seller. The tenants using 10 ism about by August 1st seller takes a big reduction. That money back?

spk_3:   29:28
Yeah. The biggest selling point that you're giving them is then they don't have to deal with the tenants. So it is probably more for what I was saying. It's more of a tenant thing toe where you're taking on this risk because that hold back, they're gonna be like that. I'm not gonna sell it to you at that price, but I completely I understand what you're saying to that. Maybe something you could do with The seller wants to stay in, and you get really deep to where they don't want to move yet, but they're ready to sell for, like, owner occupancy. When you're flipping them into the model of becoming their own tenant, you should definitely do that. Hold back with a certain amount of time for them to leave and have that whole bag

spk_4:   30:04
that goes with them to see that higher price. Now, with the hold back, that really comes back to you if they don't perform whatever that is that used to perform.

spk_2:   30:12
Yeah, Just you. Jesse, Can you walk through just a hold back? I think some people have some questions. It's kind of popping up here. Well, you well, you kind of give more tent like who holds it back. Where is that money? What does that mean? Is it in the contract? Like, can you just you know

spk_3:   30:26
what I mean? I've only done a few. Has anybody done a bunch? I could explain it, but I bet someone could explain it better than I can. To be honest with

spk_2:   30:32
you, I guess Ryan can Ryan?

spk_4:   30:34
Uh, yeah, sure. So, basically, you're buying the property for 150 grand and the seller has attended in there. You say I'm gonna hold back $10,000 in escrow on the escrow company. Doesn't escrow hold back? So the money sits in escrow. You give the 150 grand with the escrow company that Tang Grand sister until X y Z happens. For example, the cellar is you know, the tenant moves out by August 1st, or you agree to leave the house by X date or the A C unit gets replaced. Whatever that it could be anything you want. Yes, Stroke Theo. Escrow company will hold that money back. And if by that day that's an accomplished the S from company will release that money back to you. Now you're into the house for 140 grand. In that example,

spk_3:   31:20
that's a personal example.

spk_1:   31:22
So I kind of wanna came in on this because I absolutely put a role recently this past year, like we will not buy any more, um, tentative properties, because we the only bad review we have ever I have ever had is from a tenant. And right now I am just been so up in the air with these 10 injured properties. I really like the idea of circumstantially doing her hold back, but I do think I'm getting really hostile, be based on the relationship reporting build with the seller. And before that, they have with the tenant. Um and you should look the considerable back. Yes, but it's also consider what Jesse saying. I think it's very circumstantial in these times because I really, really do not like buying a property with the 10 in it already and drink like a pandemic. I do want to say or ask more, Um, eyes. Anybody worried about those tenants, like making you new landlord out to be the bad guy. Jesse really worried about that at all?

spk_3:   32:33
I mean, you just need to communicate with them. And if I guess one thing you could do is talk to the tenants before and get on the same page, maybe I'm already reducing the rent. Or putting a plan together is a good thing. But just to be honest, we do by quite a few and flip quite a few properties. Some of our best flips that we've done, even preach, run away. The market's really hot is ah, wholesaler. Not being able to get people in and and then obviously talking with the seller is I'm buying these really deep, and if I'm willing, Thio have a process on, put it back together and know how to thank somebody, probably. And I know right now we can't do that. But at least having a plan together with the tenant, letting them know, Hey, after this, you know, we will be getting your 38 notice Small give you up. Ah, price reduction in your rent for the time being. And, you know, we're really sorry about what's going on right now, letting them have that comfort. Then instead of having to victim, you're gonna have a lot of possibility of being able. So work with them and have them move out smoothly. It is. It's all about communication. That's what all of our jobs are for. All of us do is making sure you're communicating property.

spk_4:   33:42
I think I want ads. It was very go ahead,

spk_6:   33:46
very specific. Do you wanna be careful like I would not ever want to be an attendant friendly state buying these things like Phoenix? We're pretty landlord friendly, right? I would imagine sex is pretty landler friendly. I would guess California it I think they're saying like it's told months now to get to

spk_3:   34:05
make it

spk_6:   34:05
up like I would not buy anything tenant related in California, And that was even here before the virus.

spk_3:   34:12
Correct.

spk_6:   34:13
It was a nightmare in that state. So I think it's got to be state specific as well.

spk_4:   34:18
So, Stephen thing that came to my mind is you can reverse it. You could say, Hey, landlord, you need money now. Why don't I give you 5000 now and have the option or a contract recorded too close in 90 days, 120 days and you deal with attendant soon that tennis out all close.

spk_7:   34:35
I like that idea. And you know his conversation of, you know, at least hold back or making a lower offer. I'm kind of like of Jessie's opinion. I would rather lean on my ability to build report with the cellar and just shoot my shot at the number that I want it then trying to create this new idea for me at least where I'm gonna try toe, explain to the cellar like, Hey, we're gonna hold $10,000 that's girl. I think it's a good idea just in your scenario, Ryan, I'd rather just offered 140,000 and just put in that $10,000 buffer for me and lean on my cell skills and my ability to go in and convinced them to sell their house at 1 40 then 1 50 then put the whole back in because I think that's where it gets messy a little bit.

spk_3:   35:23
I see what Ryan saying to by offering the higher number. I think it's dependent on the cellar because I think Ryan dangling a higher number. If they're a sophisticate, sophisticated seller, they'll get back to you and then they will want to get the tenant out, and he's saying he wants them to be proactive about it. And a lot of people don't know how Thio effect like we do in something that I've learned how to do so for a newer person. I think Ryan's option might be a little bit more simple to where you're not gonna, you know, get all jumbled up with us and especially, I mean, I'm buying these properties, so I'm not wholesaling it to somebody else. And

spk_7:   35:59
the

spk_3:   35:59
person you're full sailing into acid it understand the eviction process as well. So it's like explaining something to the buyer. Are you sweating something to the cellar? I mean, it's a little complicated regardless, but I want going on Steve's point Even further is I'm talking about I'm in a landlord of friendly state. So I wasn't speaking on behalf of 10 and friendly states. So make sure that you know what state you're in. If you're doing stuff like this and know all the rights for tenants and landlords and how you're buying stuff

spk_2:   36:29
and it's all pricing right, it's all it's all the pricing. Like you mentioned Jesse because here's the thing. Let's go after lay in Lourdes. Why? Because their tenants aren't paying rent. Okay, so let me lock this up and sell this to somebody else so that attendant won't pay that other person. It doesn't make sense unless it's a smoking hot deal. That's why I say completely, completely avoid it, because I don't think that the pain's there enough until months, two or three of non payments. You know what I mean? We'll see. Maybe it is. Maybe we'll see how it shakes out. But, like, let me let me adopt your problem. That's that's not what we were talking with cash buyers. They want deals that air clean. So I'm gonna go after every vacant house. I'm gonna go after everybody that is moving out or there's plans to I'm gonna go after any multi family where the numbers make sense. Long term, they can't land. Whatever else you know, I'm gonna go after all those things and to see how it shakes out with the non owner occupied, or the absentee owners or the landlord list and see how that looks. Maybe it's a gold mine, and it might be it might be a gold mine. But adopting a problem just mentally in my head feels like, um, it's a tough It's gonna be a tough sell unless you get smoking Price. Just like Jessie's. It's all about the pricing. And Jessie had a perfect example because they had a guy that wanted 300,002 weeks ago and took what, 1 50 you sold it for 200. So that's why he's coming. He's coming from a place of actually doing it, so I get it. But you've got to get really, really low. I'm just talking to speaking to ever the 276 now participants that are on here. Uh, if you're gonna go after 10 and occupied properties really understand, can't use their evictions. Do you want to be the person evicting tenants during the Corona virus and are the court's open? How does that look? How are thing? What is the process? Everything changes hour by hour. I want the layups. I want the singles and that'll add up to some runs. And that's why I go after the vacant and the multi family and properties where they already have plans of the tenants moving out or moving out of state or whatever else. So just hear

spk_4:   38:44
you're right there on the data. We've got a member and the next level mastermind group. We didn't call the other day. He has 10,000 doors nationally, and it's the eighth of April. As of right now, they don't have a major increase in tennis, not paying the rent. So he there, thinking May in June, is when it's gonna hit. But it did not hit in April like everyone thought it was going to. So that means they're not quite there yet.

spk_0:   39:07
Grits them broads. Yeah, Tim Broads just said that out of all of the doors that he has a 2% increase in non paying tenants. So I think that's that's, you know, yeah, with what Ryan just said and what Tim has brought up and I did just want to bring up, you know? You know, we've got 278 people right now. Everybody on this panel is successful in their own right in many different ways. Otherwise, we wouldn't have asked him to be on this panel. But yet this one topic, you see how many different you know, ideas and how many different paths that are being taken. So I think that something really important to recognize, because this is just one thing that we're just, you know, talking about. We're not talking about team structure. We're not talking about how you market. We're not talking about howto lock like none of that. So imagine all of these people on the panel. We all think differently about many different things, but we collaborate together, take good things that we, you know, like from one another and really make you know amazing businesses within our own. So you guys, you got to use all of this and kind of create your own. There is no right or wrong. There is creating your own with what other mentors of people that have been in this before. You have done on this note what I have done previously before. Ah, lot of mom and pop, you know, landlords. So they have one or two or they inherited this from their parents and they thought, You know what? Let's make this a rental. They have not been through. There's, I think probably 70% of people we deal with that or landlords. I haven't been through the eviction process. They don't have 10 or 20 houses. They have one or two. And so what we do is my transaction coordinator is it Got a nen tire checklist and we will help walk them through this. So I say, Listen, you guys, we can take this on, but it's gonna be such a pain for us, and it's gonna take us three or four months after closing. I get it. That's not your problem. That's arts. Totally understand. But you're wanting the most money. If you want 1 50 as an example, I can get you 1 50 But we're gonna walk you through this eviction process. I'm gonna need you to fill out the paperwork. I need you to go, you know, down there and and No, no, you know, get this notarized. We try toe, hold their hand and everything and make it super super simple. Dummy proof. Basically, dummy, you know what's the dummy? The books, dummy, You know, Internet or were like, We don't be proof. Basically, the addiction

spk_5:   41:22
convictions for dummies.

spk_0:   41:24
Thank you. Thank you, Alex. Like, help me out. My remembering is kind of dummy at most times, but anyways, evictions are dumb on DSO. That's basically what we do like we help them and hold their hand, and they're okay with that. But their fear of what is an eviction and they hear these horrible stories, you know? So we just walked in through that, and that's something that's really, really important because it helps us get a lot of deals doing it that way because they're so fearful. So that's just another way of being able to do things, you know? So there's six different examples of how things were being done. Alex, I don't think you really charmed ended. I like where your thoughts on that?

spk_5:   42:00
Yeah. So for me, if tenets aren't paying, you're just really taking one problem. And unless you can close it yourself and hold onto it and realize it really deep discount. I mean, you really gonna have to talk to your buyers and and see exactly what they're looking for? Because if they're looking for, you know, yeah, really deep discount. I'm willing to sit on this. I mean, I don't see absent like everybody's like absentees right now, absentees. But I really don't see absentees within a landlord situation is being a huge, you know, situation or great situation. On what, Brent on that absentee vacant? Yes, to you. What you said, Jamie, about maybe an inherited property that they thought they would play the landlord game. And now it's a situation to where it's a mess. Maybe that might be that might be a good one. So I would target, like, recently inherited plus absentees, something like that. I mean, how many times you call up a probate or your team calls up a probate or whatever and they're like, Oh, yeah, you know, we inherited this property. We're just gonna wait, you know, for the best offer on it, or we're gonna rent this out, and, you know, we're gonna cash flow this thing till the cows come home kind of thing. And now they're thinking a little bit differently. You know, now that they got their first punch in the face, as Mike Tyson would say, So you know, absentees vacant? Yes, absentees, recent inherited those type things are I would say it would be good targets surrounded.

spk_0:   43:33
I love this thing. You so much like. It's fun, Thio not necessarily debate by Just share our different viewpoints and ideas. Like, I think that that's very healthy to do that, you know, because we're all doing different things. So thank you so much for sharing that. I did see a question that I think is important because I was a newbie at one time. Everybody here was a newbie at one time. Um and so the question was, Is this a time for somebody he's knew that wanted to get into wholesaling? Would this be a time to get into wholesaling right now? I would love to hear your thoughts on that.

spk_3:   44:04
May kick it off.

spk_0:   44:05
Everybody's fresh talking. You go first.

spk_5:   44:11
Yeah, absolutely. So now is a great remember I went full time in 2008 during a recession. It was It was You know, we depends what markets you were in I don't know if Phoenix was like 2006 when you guys were starting to feel it. But 2008 is when we were starting to feel it over here. It was a full blown recession, and I went full time and I went full time using not a huge buyer's list. In fact, I learned the most during that time because I was working with two or three different buyers. At the time, I was watching what they were picking off for me. We had really good feedback going back and forth. Marketing was was a little bit different during that time. I was a heavy online marketer at the time. I don't know if anybody on this call remembers cash Homebuyers dot com, but that was one of the first least websites back then. Maybe maybe before. You know Jeremy Brandt and fast home offers and all that kind of thing. But cash Homebuyers dot com was a big organic thing, and I was getting leads through that and getting deal's off that so it wasn't really a heavy market direct mail marketer during that time, but now is a really good time for a new person because now is a very forgiving market. People understand that there's a lot of uncertainty out there. People understand that things may change from week to week, So if you get a property under contract and it doesn't work out for whatever reason, you know you don't want to close on it. You can't find a buyer. There's Cove, it addendums for all that kind of stuff. So now is a very forgiving market. I tell people it's a really good time to stretch your virtual muscles. People used to think over the phone. How can you buy my house without seeing it? You're just on the phone. Me? How is this even possible? But now this is the norm. People are like, Yeah, you could buy my house virtually. This is great. Let's do this. So it's a very forgiving, forgiving market. Virtual is 100% 100% accepted at this point s. So it gives you a lot of room for error, a lot of room to structure virtual muscles. Like I said, now is the time to really dig down into the data. Not maybe the data of 3 to 6 months ago but data going forward of watching the new transactions that are going through rebuild your avatar as it were, rebuild your, um, marketing less going forward because you want to see transactions that closed after cove. It, if you will, and then try to retool your marketing after that and a new beacon. Do that right off the bat. Because data from 36 months ago right now isn't really, you know isn't gonna be a CZ important as the new stuff. So new people just getting started great, get started. Dig down into the new data. Right now, there's a little bit of a breather where you can really hone in and and rebuild your buyers lists and things like that. It's It's a good time for that. It's not something where people need to say, Oh, I can't get involved in this. I mean, now it's perfect. It's a great time

spk_0:   47:23
that that's good feedback. And I heard a couple of people and they must have heard Brent Brents ideas on this because we're like aspirate. He knows he knows, but I want to add to that. Brent is I've got another question about If you only had $2000 to start. Where should it be? And then some new tools or tools for wholesalers. So, like, take take it from there.

spk_2:   47:44
Yeah, a couple of different things. Guys like, if you're the question is if is this a good time? Listen, if you have a passion for real estate, if you if you believe this is the most important thing, you have to have faith. If you haven't done deals before, If you believe that this is the most proven path to financial freedom, then it doesn't matter when you start, but you have to start. Okay, If you're looking at this for the next 50 days, don't get into it. If you're looking at it for the next 50 years, this is our time. I'm telling you, it is absolutely incredible. So one of I talked about the numbers of people are more open, the sellers are more open Now, you're gonna have to do more work on the back end with the buyers. But that's fine. If you find really legitimate deals, you're gonna win. Plus, if you learn the skill of sourcing real estate opportunities, you could do it forever. That's the whole thing. You can do whatever you want. You can hold sale. You can hold tail, you can flip. You can hold these things. But if you learn how to source opportunities, that's what you need to do. If I had $2000 rolling right into the next one, what I would do is I would, ah, a couple different things. One I would reach out to any. And I had this question yesterday, so it's kind of pre prepared. But in this, you know what? I won't go in because this is gonna be Jessie's answer. And I literally got it from Jesse. So let him answer about. Other wholesalers in town's dead lied so you could go there. But I would say is I would get the deal machine after HGTV is a code. So it's 40 bucks virtually drive for dollars. I would then take that Excel list. I'd send out the bat, skip tracing. I would get the accurate phone numbers, and I would just call, call, call. You couldn't tear me off the phone. You couldn't stop me, I'd be unstoppable. I'd be going absolutely bananas on the phone and I find somebody that is ready to accept an offer. Now, I would match it up with a cash buyer in town. I go to all the fix and flip groups. I goto wholesaling houses full time. I would find whoever is buying in my area and try to match those people up. Because that's I mean, that's the value we have. If your whole ceiling, if you want to get into wholesaling. If it's 2000 bucks, if not source of Theo, find somebody that has some capital that'll split that deal with you and now start building a real estate portfolio. But if you have that true passion, if you feel like if you've read Rich Dad, poor dad and all of a sudden your brain exploded and you're like, Oh, I gotta play the cashflow game and I got up, I rent properties and I got to get a real estate license of any of these things have slipped their way into your mind. Then you were one of our people. You're one of our people. Get going Now You've got this. We are not. Listen, I'm telling you, we're small, small, small sliver of a segment of people know what wholesaling is the rest of them. Don't you got a squad up with people that understand what you're going through? So you don't feel like you're on an island by yourself? Get the support that you need. But most importantly, you need to take insistent action right now and start talking to people.

spk_7:   50:54
I want to add something that Brent, because I think you brought up a really good point in the fact that if you have the passion inside, I mean, right now you're on a panel with you know, how many are there of us? Eight of us that have been doing this for quite a while. We all run successful companies. Your question that you asked us was is now a good time? Well, of course, all of us are gonna stand. Now is a good time, because this is what we're doing. We're not going to like it were we're up Shit Creek where we should probably find something else to do. Now is not a good time. I mean, I do Dr Shiping, right? Go, Joe. Go and realize that all of our answers maybe now is a good time to do this. But you need to ask yourself, Why did you just ask that question? Like because I'm telling you right now. I mean, if I have something that I want to do, I rarely ask myself Is now a good time to do it? Because what I'm gonna do is is I know I'm gonna find a way to be successful. So anything that I've ever done, whether it be next level flipping, titanium investments, anything that I do, I know that I am going to go out. And I'm gonna find a way to be successful with it. With guard lis of what time it is what's going on in the economy. Because I'm not doing it for 2020. I'm starting it in 2020 and I'm still gonna be around in whatever we're gonna call it 2100 or whatever we're gonna call naked there. It's still gonna be around. So that's how confident I am in myself and my team and everything that I do. That's where you really need to find out. Are you that confident? And are you willing to put in the work in the effort that all of us are willing to put in to match that same kind of success. So that's really the kind of question that you need

spk_2:   52:35
to ask yourself. Jesse hit him with that $2000 budget.

spk_3:   52:40
All right, so me and Ron have talked, actually, like in depth about all these different ways. We could do it. So thanks for letting me use one of the strategies that we've talked about. It is I don't have a different answer than most people think is. I would call every big wholesaler you know in your in your market and try and work out some type of split with them and get all of their dead leads and start learning office somebody else's old leaves rather than spending money learning on on your own money. Especially if you have a small budget. Especially learning in this type of market the other day is it is a lot

spk_7:   53:16
of listening. Actually, it was gold

spk_0:   53:18
a day,

spk_3:   53:20
and then also the other thing is way kind of restructured our, um, our split with everything. So if you have any type of experience or you've done a bunch of reading and learning, we're having a position reps come on for 25% Let's say you got on furlough. We're giving them 25% for any deal that they closed and they're working our lead. So that's another way, uh, to start making deals instead of spending your own money, learn on someone else's dollar. And especially when learning in this market, I think it's just you could get more creative in us as larger business owners with these bigger wholesale operations arm or willing. I mean, we're all working at home were all we haven't the time to train them and have all morning and likely our team was has been virtual for a long time. So those are just a few ways. So I'd say Keep all your money and call someone and work all they're dead. They're dead leads, which, as Alex alluded to is, leaves from six months ago to be gold right now. And he might be able to find your first deal and learning under someone that could really mentor you. And that's a free mentorship on top of its everybody's winning in that scenario.

spk_0:   54:33
But Jesse doesn't eso. I know that you guys do this and a few people in the comments I said thanks so much. But back gives 500 free text. So if you could get some old leads from other wholesalers and then use those free text and start getting, you know, some traction and then continue to text and call call, right?

spk_3:   54:53
Yeah. So, I mean, I was just saying, you know, all these and cold, all of them. And then if you do want to use some of that $2000 budget, you could definitely I mean, texting is the cheapest way the source deals right now. So some of someone's old leads you could you could definitely texture. You could even personally text all of them if you want it to their already leads that have been touched before. So there's a few different ways on how much you want to systematize outside of things. But I think there's so many ways to get training right now. If you want to get into it, I could tell you has to I have a platform that has quite a few people on there, and a lot of people are stopping and being scared competitions, leaving if you jump in like Brenton Alex alluded to, there's more opportunity now than there was before this. In my opinion,

spk_5:   55:37
I want to revise my answer to I want to say I want to say that question is, is it a good time to get started? Right? Well, what does get started mean? Wholesaling all goes back to finding discounted properties. That's a question is, are you asking? Is it a good time to find discounted properties? Is it a good time to learn to find houses 50 cents on the dollar?

spk_3:   56:00
Absolutely better than ever. Steve. What do you say, buddy?

spk_6:   56:06
Well, kind of what you just mentioned a moment ago. I think right now, not a lot. We were talking about it. I said, There's a couple of weeks ago and I think I got a little bit of slack for it. Ah, but I was saying like, 50 to 70% of wholesalers out of business, and they just don't know yet. So I think there are. A lot of people have been enjoying a lot of easy success that haven't ran real businesses, you know, like I said earlier than begin to call. I'm really passionate about entrepreneurship, about building a business, So there are a lot of guys have been making a lot of money, but weren't tracking their KP eyes weren't tracking the r A y. They weren't running cash flow projections. They don't know how to do a piano properly. And these guys that had easy success. These guys might be further behind than a brand new whole cellar today because he might have had overhead. He might have had expenses. They might have signed long term leases where now the ability to compete is actually, they're a little a little bit, uh, handcuffs, right? They're handicapped a little bit. So I think that the question is now a good time. I had now the great time because not only has the playing field been leveled, but some of the guys there you were competing against you have been sidelined. They're in the penalty box for now.

spk_3:   57:15
So I think now

spk_6:   57:16
the great time Ancient jump in for sure. If you're on the fence, don't work. Don't be worried about the competition, because whatever competition there was, a lot of them came and do anything today.

spk_4:   57:26
I e i o

spk_1:   57:29
u haul up with on you, Steve. Like because I did this exact computer sand like I could not agree more with you saying that, but I use that comparison like you. If you're newer right now, you're going thio organically. Build it in a time where it's very, very service based on all sides of the coin, and I compare it thio, um, having to switch a mentality of a rotor. Thio. Understanding an investor like a traditional realtor like that's very difficult. In my experience. You don't have to be broken if you're coming into this market right now, you're coming in at a time where there are so many people out there that are finding it so hard to make those pivots because they just aren't educating themselves and they haven't been through it. They don't know what to dio. There's, you know, panic and you're learning in a time where you are learning how to. That's one of the things I'm so grateful for that when we started our business, we really learned how to serve the people throughout the transaction that regardless of what we were doing, a zealous served the house. Things were previously D. C's, and so it became easier for us to kind of see through the challenges that we've come up against because it does take some resiliency does take some tenacity. Sometimes in this industry that you know, if you're coming in new right now, you don't have to be broken. So understand, Like, your ableto come in and look at it with fresh eyes. And that is actually really good time for that.

spk_0:   59:08
So it was someone to say something before it passed. He jumped on. I want to make sure you get, like, whatever. You're gonna stay out.

spk_4:   59:14
No, I had that thought today, Steve, that, you know, back in 2008 I sat around the table at a coffee shop with these billionaires, and all of them were talking about who lost the most. The least amount of money. The whole conversation shifted from 2006. Who was making the most of 2008 was who is losing the least? And a lot of the guys. These whole sellers and flippers that were kind of copycats of other people's models that thought Will you have a lead and take I need to leave it take. You have five acquisition guys. I need five. Acquisition. Got to be successful. You have a big office. I need that. You spend 20 grand a month, and then they tied themselves up and they weren't making real money. Those guys mentality right now is how do I not lose money? And how do I get out of this? How do we get out of that? And they're not thinking positive. So the castle's point when you're coming in fresh like you could spend your days folks on making money Where, you know, there are a lot of people, this industry right now that spend most of their day figuring how not to lose money because they're in deal. That should be

spk_3:   1:0:12
rattlers. Your Bella. That's a golden nugget right there.

spk_0:   1:0:15
Yeah, that was good.

spk_4:   1:0:18
You know whose money? So I don't know if I'm ready to reading about. So Ryan Ryan came and I

spk_6:   1:0:26
were actually talking just a couple of days ago. Where? And to talk to this point right about, like, you know, not to lose money, Ryan, I were both talking about He was looking at signing a $6000 a month beef. I was looking at signing at $6600 a month lease and

spk_4:   1:0:44
two days right there. He's always one upping me every time

spk_3:   1:0:49
way. Look for Miley, sir, for my building. So I did a little differently. We're

spk_6:   1:0:54
looking at the faces, right? And, you know, on Tuesday I was looking at like, Well, you know, I like this spot. Let me look at the other spot. On Tuesday and Wednesday, I fell in love with both spots. They're both 60. 600. I was ready to sign one of them, but in the back of my mind, I was like, you know, this covert thing it might get here, Let me just hold off a couple of days And in the n b. A shutdown. Right? And Tom Hanks happen. And so but that could have been me looking at these expenses. So we're looking out your competition somebody's people are talking about man. How do I undo this? How do I guarantee this? Whatever. And, Brett, I mean, we've talked. We've had this conversation. Bryant had Theo go through that before.

spk_3:   1:1:34
Do you want are never mind has been said. You want any part of that story on Like something that I don't know? I know you have a pretty cool story

spk_2:   1:1:41
Listen, you know what I've learned is this If you're in your if you're doing, if you're starting and running a wholesaling business and if you can't keep 50% of your income as a profits in the beginning, when it's just you building it up, I mean, that's gonna have just a little bit after you get. But I suggest you keep 80% of the profits when you're starting out and put it away and put it that that's gone. That's to the family that's in your account. That's your money and live like really hungry and really lean for as long as you can until you stack enough cash to where you feel and you build up your leadership skills and you build up your ability to be consistent as a entrepreneur and as a professional, you get all those things in line. Then you start hiring people. Then you start building. But if you're just, if you think that there's just, you know, here's the one method or here's the here's the formula for building a huge business. There is none. This is wholesaling is real estate investing. Okay, listen, you're not buying a franchise, you know KFC with the same you know, menu and you know what it means. So it's this is this is all about the wholesaling business is a cash grab. It is a means to an end. It is the hitting the lottery. It's the cash machine that lets you do other things, but don't get it twisted. There's not people out there making netting millions of dollars. If they're doing $5 million in wholesale, it's all a lie.

spk_4:   1:3:18
That's what I'm saying is the Jets and cars are helped free and clear. They probably have a lot of dead on him.

spk_2:   1:3:23
Listen, you could take photos in front of Ah tiger. If you want our Thio or whatever you want. I mean, listen, don't don't don't get listen. It's all about keeping the profits for yourself. And it is all about, um, understanding why you're in this. Are you in this to build long term? Well, for you in this just to bye, you don't get flashier whatever. Whatever it is that self awareness to it If you love it, I love it. Do whatever you d'oh! But in times like this, when things get squeezed when that If the economy is an accordion, and it's going like this a little bit. All of a sudden, these

spk_5:   1:4:03
companies shut

spk_2:   1:4:04
down. All of a sudden, people are laying people off all of a sudden overhead eats things alive. So keep your costs low, keep your efforts high, make a ton of money,

spk_5:   1:4:14
but keep a ton

spk_2:   1:4:15
of money as well. That's my suggestion.

spk_0:   1:4:17
Thanks, Bret. And I do I want to say that, you know, because we're gonna wind up right now. You guys, this has been an amazing call, but I'm really glad that that was kind of the last thing that we touched on. I've told this story and in different podcasts and things like that. But I got into the business and, you know, I learned from someone who was once, you know, wholesale at a time. And then I got into a mastermind and all they talked about is, you know, harboring are incurring. I heard five people at once. It was the worst thing in the world. Almost wrote me. I may not be standing here today. I mean, I was hanging on by a thread, but I felt that it was not a success if I didn't do what they were doing. I didn't know a lot of people in that moment in this industry. So I didn't have you know, a call like this that I had been on, the only people I knew who had taught me, and I done what they said and then moved on to another mentor. So I want everybody on this call to know that you're not not successful. It's not not sexy. If you're only doing one flip a month or, I mean, everybody has their own goals as a family, as a person, as a company, as a culture. So please do not put your success and who you are as a person and your value as an individual up against anybody else's business, because I can promise you like where it said the ones that have four and $5 million. You better believe that there crying right now because of their overhead being so high and if there even in the positive. So just know that. Do it your way, and you see we all do it different ways here. But it doesn't matter if you're doing three deals or 300 deals What matters is that you have a goal and you're doing everything you can to achieve it and your surrounding yourself with the best people. So you know when to pivot how to put it. And your network is so important. So I want to kind of lead off with that on my end. Um, I want to thank everybody so much for this call like your time. I know it's so valuable, you're willing to be very abundant and gave. And that's another reason why I wanted you you guys on. So you all means so much to me. And I'm so thankful I have you in my network and to lean on you in times like this and learn from you. Thank you all for joining the Panelist that joined today. We really appreciate it. I'd like to just let you kind of run through really quickly. Just say you know, the last last minute or two word and then how they could get ahold of you. And also Annie has the cat got everybody's i G. If you want to follow any of the Panelist on RG and he's put him a fair, let's just No, um Alex the rent and Jesse, and I'll just kind of close it out. Let anybody know how they could get ahold of you if they'd like Thio

spk_4:   1:6:51
and real fast as part of your minute. If you could just air your biggest takeaway from the call that you took away doesn't analyst.

spk_0:   1:6:58
That's good.

spk_3:   1:6:59
Yeah, I suppose, unless you wanna go to me,

spk_5:   1:7:03
I thought I was first. But, you know, you can

spk_0:   1:7:06
get out of this Nurse did

spk_3:   1:7:07
not. Sorry. I

spk_5:   1:7:09
know. It's okay. It's okay. The more we kind of delay here, I can think of what I'm supposed to say. So not This call's been amazing. I love being on a call where there's so many like minded people. I'm we We all do different things, but we all have the same mindset, and that is now is the time to squat up. As Brent says, Now is the time toe learn. Now is the time to not this early capitalize, but position yourself to be the best place t succeed during these times. So as far as what I learned the most from the call, I would say, um, let's see here. I would say it was the whole. If we're going to talk about the chief marketing side of things, go reach out to other wholesalers on work. They're dead leads, right? Because a lot of these people may have these big, giant, enormous teams. They may have had to fire a whole bunch of people. And guess what? Here's you saying. Hey, can I help you out with those leads? Can we make some money on him? S. So that's Ah, that's a great opportunity that anybody can D'oh! It just takes a little bit off guts to reach out to the people, right? A little bit of motivation and toe. Look people up and find it in your area. Go to Ria's. That's another thing. Not Don't only squad up with people you know nationally like this, but squad up with people locally because y'all are working with same buyers more than likely. And it's a good way to J V on some deals and things like that. Um, as far as where you guys confined me, you can find me on whole selling houses full time. Ah, that's my main Facebook group. I think Andy posted my feet, my instagram, which is at Alex Young blood. But y'all can always go into the wholesaling group. You can drop your deals in there if you're tryingto wholesale deals, you have any questions? Post him in there. Used the search box. That group is man. We started in 2008. Like I said, So it's a plethora of information when it comes to any question you have regarding real estate. So again appreciate you guys having me on the call.

spk_6:   1:9:23
Uh, so I think the big thing for me, it still is. I think there's plenty of opportunity, you know, whether you don't wanna be older than five deals. I knew plenty of opportunity. I've been saying this for a long time. Never been a better time to be alive. Maybe last month, a little better than been today. But overall, still never been a better time to be alive to take advantage. It's never a bad time to find a deal. Uh, far as getting hold of me, Instagram really is the best way. I don't know why, in some ways, like I'm kind of like a teenage girl,

spk_3:   1:9:51
though at sea

spk_6:   1:9:52
that drink and the last thought, I would say, is You know, I'm doing the private money route. That's where I'm going. And that's that's That's the direction we're headed. And if you want to, you know, be on that call I got with my mentor. Just goto disruptors dot com slash private money. I'll post it down here below, and, you know, hopefully people are too great. Notes are taking lots of action from this call.

spk_0:   1:10:16
So, Steve, you're not gonna share your dick talk.

spk_6:   1:10:20
Uh, Frank.

spk_0:   1:10:25
Alexi just started a tic tac. Yeah, you must follow Steve's Dick

spk_4:   1:10:29
docks and he dances. It's terrible. E got

spk_6:   1:10:32
moved. I just gotta get drunk.

spk_2:   1:10:38
Hey, guys. Uh, yeah. Thank you. Thank you, Steve. You done you good? Good. Okay. Um, yeah, I think you know, it was a really, really, really good important point that Alex talked about with people that are traditional or putting their properties on the MLS, and they're living in there. They're taking him off the MLS because they don't want people coming into their house. They don't know. I think that's absolutely powerful. When the inventory shrinks, the demand is gonna go up. So super powerful Love that. You said that really stuck in my brain. Thank you. This is the is the best day of my life is the best day of my life. I'm gonna echo. So it's Steve said This is great. It really is. I love this. I love the panel. I love what's going on here. So, um, guys wanna go talk to people dot com It's the greatest website that's ever been created by man. Um, you're going to get everything that you need there. It's absolutely incredible. So talk to people dot com note. All kidding aside, there's a ton of free resource. Is there a ton of free downloads? Definitely. Check it out on. That's it. Thank you, guys. Thank you, Ryan. Thank you, Jamie, for getting me on here. Thank you, CASS. Do you think you are Jake? You guys, they're the best.

spk_3:   1:11:53
Absolutely. And I just want to reiterate thank you to all you guys and I'm honored. Very honored to be on this panel. I want I took away a few great things. First off with Alex. I think I went a little bit too deep into the absentee stuff. But for new people that are getting started, I think going after, you know, the vacants and owner occupied leads is definitely the routes ago if you're jumping into real estate and then bread. But you said and you said as well Jamie is, don't compare yourself to other people and keep a CZ much money as you can, especially right now. I mean, I I kind of went down. That was one time. I think all this did, trying to create these big teams and and learning like find what's best for your lifestyle. Find out what's best for you. Everybody wants toe be the CEO of their wholesale companies so quickly and then have so much overhead that you have all this stress. We start making less money than just working in your business and becoming super wealthy doing it that way. Obviously, you'll get to a point where you can scale and do some of these things, but you intentional and not try and copy people for your out what's best for you and watch the things in these zoom calls like what we're doing. But I just want to thank you guys. I said so much. Easiest way to find me is on Instagram at Jesse Burrell and then obviously I appreciate everybody that uses our service with basket tracing dot com and batch leads. We really, really do work hard to make sure that we're providing you the best Softwares in data so you could get the most deals.

spk_0:   1:13:28
Thank you so much. Ryan, will you talk a little bit about, you know, next level mastermind and next little flipping So we can, you know, let everybody know about that if they're not aware yet.

spk_4:   1:13:38
Yeah, So we do calls like this on a weekly basis within our group. So if you've enjoyed these calls within next level flipping next little mastermind, that's the kind of value you get out of it. Is being a part of calls like this a super cool stuff. We really dive into the details of your business. The next level flipping group that R J run and I run is if you're doing 25 deals or less, and you want to scale and grow and get better. And the next level mastermind group is for those doing more than 25 deals. And you know, what I've noticed is most people in that group they want to get better before they get bigger. And there's a huge focus out becoming better, better leader, better marketing, just really fine tuning the skills. And yeah, I mean, those of the groups were just here to serve you guys, and we thought we do probably I think we're gonna, before these calls total maybe five. And then, uh, that's it. We want to get as much value as we can to the public for free right now, and hopefully you guys have enjoyed it. Thinks once say that you know,

spk_6:   1:14:33
I'm in that mastermind, right and all I'm after my state is one of the best to be back.

spk_3:   1:14:39
You know,

spk_6:   1:14:39
a lot of really good value in there, so I'm in there. I'm in the conversation. Uh, I'm, uh you know, I love some of these high level conversations that I had that I would not be able to have. Like, I don't have those connections. So, like, if someone have a question into the best example you know, like when Ryan Panetta was talking to the other lender who made some very poor, reactive decisions. I mean, we got to be a fly on the wall in those conversations you can't have otherwise

spk_0:   1:15:06
Yeah, well, I appreciate that, Steve. And so we just asked really quickly if we're gonna have a replay. If you register for this year's, we will send us out and you'll have a replace. You can listen to what everybody said and take notes. Um, thanks again, everybody So much that was on the panel for your time. For your friendship, for our network And let's go crush it together And a quick shout out to my girl Annie Dragon Nova Her birthday is tomorrow So happy Virtual early birthday from the group Thing way Tha s so thanks so much, you guys. But I have an awesome, beautiful blessed week,

spk_2:   1:15:49
guys,

spk_1:   1:15:50
I hope so.