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Speaker 1 (00:00:03):
Good evening, everybody. Good evening. Good evening. Peter Beck, someone here and you’ve got Julie Musa on the other side, Julie, how are you?
Speaker 2 (00:00:09):
Oh man. I am doing so good to not Peter. Thank you for asking. And I hope everybody else that is only call hope. You’re having a fabulous Tuesday. Um, well I cannot believe like it blows my mind and it’s already August this year crazy, isn’t it? Yes. Yes. I’ll tell you that. It’s getting so hot. I am so ready for fall. It’s not even funny.
Speaker 1 (00:00:34):
Yeah. We actually worked from, um, uh, I worked from the lake house today cause it was so hot and um, and funny thing is I got back. You and I got on, we did a little Instagram live and as I was walking up here to my office, I looked at my hair and I’m like, oh my God, what the heck happened? I guess that’s what happens when you go to lake house and you kind of sit outside and everything just kind of gets crazy. Yeah. We went on a boat for a little bit too. Mostly just kind of hung out there did some stuff I needed to do. And that was where I got this cool text. Julie, check this out. Um, bum bum, bum, bum, bum, bum, check out this text I got from Mary today. I don’t know if you could see it, but it says Cypress title $195,000 wire coming back.
Speaker 1 (00:01:25):
So while we’re waiting for a couple of people till a couple more people to log on, this is a crazy deal. We bought this property with one of our partners, um, like three or four weeks ago, we bought it for $90,000. Now listen to this, we bought it for $95,000. We spent a whopping $0 fixing it. We sold it for 200, $10,000. And um, you know, I had to pay commission, obviously some closing costs and it just close today. We’re getting 195 back. And so that’s not, that’s $105,000 on a partner deal. How about them? Apples?
Speaker 2 (00:02:03):
Yeah, that’s the best apples I’ve ever seen. I’ll tell you that is a big, big, big deal and a big payday for, for our partner. So I’m super excited about that for him, um, for the company, the whole nine yards. Yeah. She said, how about them? Apples. Absolutely. I should have said that. Well, as you guys are logging in, um, we love to do this, but let us know where you’re, where you’re. Um, I see, was it dialing in from that’s what they used to say on the radio. Right. But I don’t know where you’re zooming in from zooming in. That’s exactly right. Yeah. So we got Shane from, Georgia. Um, let’s see. Who else do we got? We got Russell, Mr. Russell from Buffalo, New York. Sean from Houston. I’m assuming Texas. Um, yes, she from Los Vegas. We all know where Las Vegas is.
Speaker 2 (00:02:54):
Um, Ryan from Baltimore, Maryland, we got Wichita, Kansas, another Maryland, John from Los Angeles. Actually, John, we just got back from, um, what was the name of that place? It wasn’t that far from LA Newport beach. Yeah. Newport beach. Um, uh, love that area was so beautiful. We got a Mer miss beautiful marina from Raleigh, North Carolina. Uh, let’s see. John Walker from Rochester, New York, Aubrey from Louisville, Kentucky and drew from Fort Wayne, Indiana. Ruth is from Pittsburgh. Um, Michelle says Washington and got her mask back on. I’m get you girl. Uh, John from New York city, Jamie from Gainesville, Georgia dub from Pittsburgh, Pennsylvania, Michael from Baton Rouge, Louisiana, Michael. Um, I have a home not very far from you. Um, and port Barry, Louisiana, I think it’s only about 45 minutes from Baton Rouge. Apparently. That’s where you got to go to get all the good stuff around there. Brian from easily South Carolina, Annie from Cedar rapids, Iowa. Tom is from Dallas, Texas Graham from Phoenix, Arizona hashtag free Jenny. Hey, I’m going to stop here for just a second. Hopefully Graham’s not going to care that I say this. So we made up this hashtag called, have you heard about this yet? Peter?
Speaker 1 (00:04:20):
I heard you tolling somebody about it. So I kind of did, but I wasn’t a hundred percent in the conversation. Tell me,
Speaker 2 (00:04:27):
You know, Graham and Jenny, right? Okay. So Jimmy wants to quit her full-time job. Well, when she goes to her job, she’s actually like stuck in the basement. We’re like, don’t put Jimmy in the corner, you know? So we’ve got this hashtag free Jenny. So when they, when we’re closing some deals, she’ll be able to do this full time. And that’s the hashtag free miss Jenny. All right. We got Ashton from California, bill from Sacramento. Um, our good buddy up, uh, Barry, Dennis, one of our master coaches. He lives in Sacramento to Gordon. All he wants to do is zoom, zoom, zoom, and a boom. Boom. That’s hilarious. I can’t believe I read that out loud, Gordon. You’re funny. And he’s from Florida by the way, Ron, Ron is from Woodstock, Illinois, Carl and Karen from Barrington, Massachusetts, Clinton, Arkansas, out of the Ozark foothills, Jack, I have always wanted to go there and by the way, I freaking love the show.
Speaker 2 (00:05:27):
Ozark or Ozarks cannot wait for the next season to come out. Um, let’s see. Carrollton, Texas, um, Wilmington, Delaware, Bonnie from Denver, Colorado, Amy from Portsmouth, New Hampshire. Uh, let’s see what else we got Walter from Wilmington. Delaware. Okay. Oh yep. Gordon definitely is in Delaware. I’ve um, I made a mistake. I was confusing you with Gordy from Florida, but I know your sister, she must be back into Washington now, but uh, so glad all of you guys are here, especially all of our partners. Um, Kay. Thank you for taking the time out of your day, um, to spend some more time with us here at partner-driven we got some good stuff for you to, not for those of you, that aren’t partners. We got some good stuff for you too. Yeah, we sure
Speaker 1 (00:06:20):
Do tonight. We’re going to be talking about, um, we’re gonna be talking about analyzing deals guys, and you know, there’s some things in real estate that I guess are little bits. Like maybe, I don’t know this, this is probably not a good word to use a little bit sexier, a little bit more exciting. Um, I don’t know. Analyzing deal is one of those, but I will tell you analyzing deals is an absolutely critical thing to learn and understand. So what we’re going to talk about is how we have been analyzing deals here, how we’ve analyzed, you know, to do the thousands of deals we’ve done. We’ve easily analyzed tens of thousands of deals. So, you know, I think Julie and I can, you know, speak with some authority on this. And so we’re going to get started here in just a minute, but first of all, I want to, there’s some people here who may not even know who Julie and I are.
Speaker 1 (00:07:07):
So just as a courtesy to them and to kind of reinforce for people who do know who we are, what we are is we are real estate investors. You know, for instance, I’ve been an investor for many, many years, well over, uh, two decades. Gosh, that sounds decades. You know, when you start talking about your life in terms of decades, you know, it’s one thing to talk about. Like they, days, months, maybe even years, maybe even a decade, but like decades, that’s crazy, but I’ve been at this thing for a couple decades already, you know, done thousands of real estate deals. And if somebody on the street were to stop me and say, well, what do you do for a living? The very first thing I would tell them is I am a real estate investor. I’m not a professional educator. I’m not one of those gurus.
Speaker 1 (00:07:50):
Um, but Julie and I are both real estate investors. We have been real estate investors for a number of years together. Uh, Julie’s been, gosh, what about 10 years we’ve been together? Right? Um, and we had an incredible run doing what an average investor does. Kind of, we did our own deals, found her on deals. We had our own call center. We had a whole frontline of negotiators. We had our own local inspectors. We had our own closing attorneys. We had our own, full-time closer Mary to close all our deals. Well, no more, no more for a number of years. Now we have done what, and I’ll be honest with you. I don’t think anyone does what Julie and I do now with the national level. You know, you hear people talk about partnering, partnering all the time. And most of the time it’s like at a local level, you know, one person gets together with another person, maybe a family member and they partner do deals.
Speaker 1 (00:08:40):
And we have taken the partner model, that type of a model. And we have put it, I believe on steroids. Okay, family everywhere. Now we literally, we span, I say we span the globe. We don’t only span the globe, but we do spend the United States. And so Julie and I still are real estate investors. But now, now all of that infrastructure, we used to have to do our own deals. All of that infrastructure now is focused on helping our partners, owners do real estate deals, literally across the United States. And how we do that is we basically provide to each and every single one of our partners, the tools and the resources, they need to be successful in this business. Right. We don’t do the work for them. You know, we don’t, you know, it’s not something that, but we give them, you know, Julie, I used to say tools and resources.
Speaker 1 (00:09:28):
Then I said, you know, we give them the, the, the, the key components, really, we give them the shortcuts. We give them the shortcuts is what everyone needs in order to be successful as an investor. So one of them is what we’re doing tonight. Uh, what we’re doing tonight is what we do with our actually partners every single day. And that is coaching and training. And, and that’s an essential part. You know, sometimes people think, well, let me just get in real estate and learn along the way. And by the way, that’s how I did it a couple of decades ago. And let me just tell you from personal experience, that is not how you want to do real estate, you know, jumping into real estate and learning along the way I would compare it to. And this is probably a little bit extreme. That’s like saying I’m going to be a doctor and I’ll just learn along the way.
Speaker 1 (00:10:11):
You know, let me go do surgery and, you know, let me just practice. You know, maybe that’s a little too extreme, but it’s the same thing, except how this is how it affects your wallet. Okay. So we provide coaching and mentoring literally on a, on a daily basis to our partners. The set, second thing you need is you need to be able to find real estate deals, right? And so we help, we help with that. Also, we, you know, we help with lead gen, we have a proprietary, uh, CRM system called, um, uh, deal engine HQ, which our partners have the ability to utilize. And that CRM system literally markets, uh, on their behalf and their local marketplaces identifying, we provide technology in today’s world like decades ago. You didn’t need technology. Today’s if you don’t have technology, you’re going to be left in the dust.
Speaker 1 (00:10:57):
And so we provide technology for our partners now to, uh, find it deals, search for deals, connect with owners, do driving for dollars dollars. And we do that through our amazing, uh, app called deal driven. We provide obviously funding for our deals, you know, would Julie and I, for those of you that have been on I’m here since last 10 minutes, some of you guys are just logging on we’re discussing a deal that we just did with one of our partners. We’re just a couple of weeks ago, we bought it for 90,000 and today we sold it for 200, 10,000 netting out 195,000 after commissioning and closing costs. And so we provided that whole $90,000 to our partner and we’re splitting 105,000 with them. So that’s, that’s a great, great deal, obviously. So that’s what we do. And then once we do whatever needs to be done to these properties, we just put them into market, sell them and split the profits down the middle 50 50.
Speaker 1 (00:11:48):
And that right there is the partner driven model. For those of you that stay on through the whole, uh, presentation tonight where Julie and I are going to talk about how we analyze deals. We’re going to do something unusual tonight. We, I don’t think we’ve ever done this on the Tuesday night. Um, we’re going to talk about it even at the level of that, our partners on how they could even level up through a partner driven max. And so, Julie, we’ll spend just a couple of minutes sharing with you all, how that’s possible. That’s like for people that want to go into the next stratosphere, uh, with us, um, so that’s what we are, and that’s what we do. But we’re here tonight to talk about a very specific part of real estate. And we’re going to talk about the, the, the art of analyzing a deal. And so what I want to do is I want to talk to you a little bit about like the big picture, the big picture of what that is, what it entails, how important that is when to really like take it seriously, as opposed to kind of, sometimes you could almost loosey goosey it, and then I’m going to flip it to Julie. And Julie’s going to get into specifics. Like she’s going to go over some numbers. Like this is how we look at a deal, and this is what we could maybe wholesale,
Speaker 2 (00:12:59):
Favorite, favorite, favorite thing to do.
Speaker 1 (00:13:01):
And Julie’s about as good as it gets at it. And she’s going to get really into some numbers. Okay. But let me kind of take a step back and, and, and point out a couple of things to you. No one ever goes into a real estate deal hoping to lose money. I mean, maybe that’s an extreme statement, but at least I’ve never gone into a real estate deal over the last couple of decades, hoping to lose money. I don’t think I know anyone that’s like said, you know what? This is a great deal for me to lose some money on. Okay. So those things do not happen, right? So why is it that we as investors all want to all want to make money, but for any of us who’ve been in this business and done deals, know that sometimes we actually lose money. And for those of us having that have not lost money in a deal, but we know other people in this business, we probably know some people that lost money.
Speaker 1 (00:13:56):
Right. And so you try to pinpoint, where is this thing happening? Like, why is it that I want to make 50 grand, but I show up losing 50 grand. It starts at exactly what Julian are going to talk to you about. It is the incorrect analization of a deal. Okay. A lot of people. And by the way, I’m, I’m gonna, I’m raising my hand here. I was in the, you know, I was in this bunch, um, especially when I got started, you know, for those of you that know my story, know the first six deals I did, I lost everything. Like I literally just lost everything. Part of the reason I did that. And maybe the very beginning part of the reason I did that is I did not know unders and understand how to correctly analyze the deal. I made some very common mistakes, especially back then.
Speaker 1 (00:14:46):
Number one, I got emotion involved. I got emotion involved. I did not analyze it based upon facts and figures. I got them all social about it. I was a brand new guy in the business. I lived, I had a little bit of a cocky attitude. I want success as quickly as possible. I didn’t have necessarily the long-term vision back then because I thought everything could be done tomorrow, tomorrow, tomorrow. And so, as I was being presented, that’s it deals, I made the mistake of getting emotional about these deals. Like I F I was trying to make these deals work. Right. And those of you that, or in this business, any length of time, you know exactly what I’m talking about. Right? I mean, literally I was trying to, I still remember there was one deal I did back then out of the first six I did where I lost a bunch of money.
Speaker 1 (00:15:35):
There was back then. Trust me guys. I didn’t know much. Like I came in as a novice. I mean, I had a little background on mobile homes, but definitely didn’t have any background in real estate investing. And, and I still remember the realtor, his name was Jeff. He was driving me around. He was showing me this house. It’s an in-town house, Julie here, not far from where I live now. And, uh, he was showing me this house and it was like a little subdivision in town. Right. And, and I think the price was somewhere in a three or 400,000 range right now. Remember I’m brand new, but I’m emotionally attached to everything. Cause I want to get a deal done. I want to get a deal done. I want to get a deal done. And the house is sitting inside the subdivision. And I still remember Jeff literally driving outside the subdivision, right?
Speaker 1 (00:16:24):
Driving was a half a mile down the road. Like at this point in real estate, when you’re leaving the subdivision, you’re buying a house in and you’re going about a half a mile down the road. You might as well just go to different stuff. I mean, and he showed me a house that was selling for like $600,000 right now. Remember I was, I knew in the business back then, I didn’t realize like, okay, inside the subdivision, you better compensate the subdivision. But I kind of had a tingling. I’m like, this looks weird. Like, why don’t we lead the subdivision? But I was emotionally attached to it deal. I wanted the numbers to work. And so, so when you want, when you get emotional about something and you want the numbers to work, you let, um, things seep in, okay. You let things seep in that shouldn’t be seeping in.
Speaker 1 (00:17:15):
And at that that point, it was very simple. Jeff, the realtor was showing me an illegitimate comp. That’s not, you can compare inside the subdivision compared to outside the subdivision. You can’t do it. I remember another time. And one of those six deals, I was buying it back then I think through a wholesaler. Right. And, and again, I was, I was angry. Just, I want it to get deals done. Right. I was buying it through a wholesaler and I remembered this wholesaler calls me and he totally played me. Like, totally play me like the amateur that I was. And he’s like, well, I tell you what, I’d love to do business with you, Pete. But I got these three other offers. I got these three other offers. And, and you know what, I’m going to be honest with you, Pete. I think I’m going to go or playing me like a fiddle.
Speaker 1 (00:18:01):
Play me like a Phil. All right. I don’t think he ever had one offer on that property, but because I wanted to make the deal work, right. Because I wanted to make the deal work. I started listening to total nonsense, Pete, I got these three other offers, but I tell you what I like you more like, how do you know me back? He didn’t even know who I was. I was a total newbie. Right. But because I was emotionally involved in a deal, I was believing what he was telling me like, wow, look at me. Like this guy really wants me to get this deal. Right. And he just kinda just like the hook, took me by the mouth and got me to buy a property that nobody else wanted. And that was another property. Uh, last month, again, emotionally involved, there was one deal.
Speaker 1 (00:18:42):
I remember I did Julie where, um, um, I bought the product. I was buying the property. You know, I was going through this analization that we’re talking about today and to make the deal work on the, uh, uh, to make the deal work on a number side, the rehab had to be, I forgot maybe like 20,000. Right? But the reality is the reality is it was really more like a 40 or $60,000 job. And had I put 40 or 60 into the numbers, the deal wouldn’t have worked. If I had put 20 into the numbers, the deal worked. So what did I do? I did a total amateur move. I told one of the contractors that I sent out there. I was like, everyone’s given me a bid for like 40, 60,000. That kills the deal. And what did he say? I can do it as the numbers need to be. I said, need to be 20. And guess what I saw from that guy, two hours later, a bid for $20,000 because I was so again, I was emotionally involved. I should’ve been able to see right through it. He’s just trying to squeeze me out of everything he can. Right. And guess what happened after I bought that 20, I bought that house and spent $20,000.
Speaker 1 (00:20:03):
There wasn’t enough. I have to spend another 20, 30, 40,000 to make the deal work. And that next 20, 30, $40,000 killed me on that deal. So being emotional is one of the key key factors that will absolutely kill you in this business
Speaker 2 (00:20:23):
Are trying to make a deal work right. And make a deal, work. It either works or it don’t work. There’s no. Well, I got, can I get a realtor to give me higher comps? You know, I hear that all the time. They’re like, well, I just need to find a realtor to give me higher comps. Well, the numbers are the numbers. You know, the contractors and numbers are the numbers. Any tab, get something low or higher, like on either side. That’s a, that is a sign
Speaker 1 (00:20:53):
There’s no. And, and, and Julie, you know, this is another great point. You bring up the last person you want to get numbers from is the person that brings you the deal, right? Like, like, think about this. Like, um, let’s say somebody selling you a car, right. And it’s, let’s see, I don’t even know anything about cars, but let’s say they’re selling you a Toyota and that’s worth $20,000. And they’re like, I’m going to sell to 400,000. Well, what are the chances of you buying that car? Like zero. Right? And, and, and just because the seller says something does not make a true, but somehow people get into real estate and they lose all logic. Right. So they’ll go to a seller, right? They’ll go to a seller. A what are you selling the house for 100,000. Okay. Uh, why a hundred thousand? Oh, it’s worth a hundred thousand or it’s worth 200,000.
Speaker 1 (00:21:44):
I’m giving you a good deal or a realtor that they don’t even know, brings them a deal. Right? A realtor brings them a deal. And, um, they’re like the realtor tells them it’s $200,000. Okay. Is that a good deal? All to great deal. It’s a great deal. Well, remember the realtor at the point of not knowing you is looking at you from only one perspective, you’re a paycheck to them. And by the way, you know, what a realtor’s job is, is to sell that house. It is to sell their house. It is not their job to get you a good deal. When I’m selling a property that realtor represents me. And their only job is if I want, let’s say a hundred thousand, their job was to get a hundred thousand. It is not to provide an incredible deal for the buyer of this property.
Speaker 1 (00:22:33):
So another huge mistake people make is their get their numbers from the person that brought the deal to them. Here is the only time that you actually want to get numbers from the person that brings you the deal. When you truly know that person and trust that person. Like there’s some people that Julie now I’ve worked with, like Ivan, Ivan, as an amazing realtor we have here locally. Right? So, so if somebody brings us a property, right, we just call Ivan, okay, we’ll just call Ivan. Or if even Ivan brings us a deal. And when I’ve been says, Hey, it’s a hundred thousand dollar home. We’ve worked with Ivan for six or seven years. Okay. Now at that point, it’s okay to trust that person because we’ve done tons of deals with that person, that person has backed up the numbers. That person has weathered the time with us.
Speaker 1 (00:23:25):
We have made money with that person so that, you know, we have, we have a Lindsey like that, right? Uh, we have a partner Seth like that, that when they tell us something to us, it’s golden, but one of the worst mistakes people make on analyzing something is literally somebody, they have no idea about right. A realtor or a wholesaler or a seller calls them with a potential deal. And the next thing you know, that becomes gospel, right? That’d becomes gospel that whatever they say. So you never, ever on the analyzing, and Julie’s going to talk to you here in a minute about the actual, how would you, one of the numbers you want to go through, uh, but on the analyzing do not, I mean, you could take those numbers from the seller or from the realtor, but you always, always, always, always have to verify, you know, there’s a very famous statement out there trust, but verify.
Speaker 1 (00:24:12):
And when it comes to analyzing real estate deals, you absolutely have to have to trust. But you also, at the same time, you have to verify, so emotions will absolutely kill you in this business. Getting information and numbers will, uh, absolutely hurt you in this business. Um, I will tell you the other thing, and we still do this sometimes. You know, sometimes it’s funny, we’ll start someone brand new and they’re like, you know, all the rules go out, but guys, do you know what? Even like at our level of thousands of real estate deals we analyze and then we double analyze and sometimes we triple analyze. I’ll tell you one right now, we’re working on, we’re doing the deal. Uh, I think it’s somewhere in south Florida. And, uh, we bought it for 400,000, correct me if I’m wrong, Julie, I think we’re spending 75,000 on it and it’s going to be worth somewhere in a sixth.
Speaker 1 (00:25:07):
So we’ll be into it for under five and it should be going for over six when we, when we get done with it. But the problem, not the problem, but the reality that deal was that when we put the deal together, it was in a part of Florida where w where we did not have one of our own contractors, which happens no big deal. Okay. So what did we do when we brought this totally unknown contractor to us, we checked double check, triple check, quadruple checked. First thing we did is we didn’t just out of the blue call, some contractors out of south Florida and say, Hey, you don’t know us. We don’t know you, but we want you to here’s $80,000. Okay. We didn’t do that. We went to some trusted people. We knew in that area. We had an amazing realtor that we had of about a eight or nine year history with named Kim.
Speaker 1 (00:25:57):
And we asked Kim because we trust the Kim member. We didn’t have a contractor, but we had someone we trusted there. We said, Kim listening, we’re buying this house. We need a referral. Okay. Guess what? Kim’s like, I got the guy for you. I’ve done dozens and dozens and dozens of deals with this contractor. So that’s the first check we did. Okay. We went with somebody that we trust that even though the, the end person we didn’t know from Adam, but the referral to us was absolutely golden. The second thing we did, uh, we vetted this person by having them put together a bid, obviously, right? We have to put some timelines on the bid. We talked to this person a number of times, okay. The next thing we did a couple of days before we closed this deal, I talked to this, um, contractor, myself.
Speaker 1 (00:26:48):
I said, look, it’s a $75,000 bid. What are the chances that it’s going to go over? He goes, there’s only one thing. I’m not sure of what happens when I opened the wall. What if I find something there? I said, here’s what we’re going to do before I buy this property. I want you to open the wall, right? He goes, well, Pete, you don’t own this house. How am I going to open the wall? I said, we’ll talk to the seller. And I’ll tell the seller what we’re going to do. And if it doesn’t work out, I told him that, uh, we told the seller we’ll pay for whatever damage we do to the walls. So that was the third thing he did. He, the only unknown that he could not get through, we worked through before closing, he busted some walls. He looked behind it and said, it looks good.
Speaker 1 (00:27:26):
The next thing we did, we hired a full a third-party inspector. So when, when this contractor needs, um, draws from us, he don’t even call us. He calls us third party inspector, right? And this third-party inspector goes in there and verifies and make sure all the work is done. So referral contingency plan, we don’t want to get too far ahead of them in terms of the pain, right? If your contract says, you got to prepay for the whole job upfront run, that’s not a thing you do. So we went, we set up a favorable payment plan, right? We put a third party inspector on it, and now we’re rocking and rolling. And by the way, every day, one of our close, or Mary’s talking to that person. So from the big picture, guys, don’t get emotional. Don’t get your num numbers from the wrong sources and check and double check and triple check and quadruple check. Because even after doing thousands of deals, we still do that. Having said that, Julie, talk a little bit about like specific, like if somebody was analyzing a deal, let’s say, I don’t know. I want to wholesale. I want to whole tale. I want to fix and flip. What is some, what are some numbers? What are some good guidelines people could use?
Speaker 2 (00:28:32):
Okay. So I’m definitely going to go over that. But before I get started, because I know a lot of you on this call are fairly new to real estate. So I’m going to explain some terms first, some terms that I’m going to be saying, and I don’t want to just assume that you know what they are. Number one is an ARV. Okay. It’s important to know what an ARV is. An ARV stands for after repair. Okay. After you fully fixed the house up, what could the property sell for after repair value? Okay. This is often referred to as a comp. Okay. But you simply don’t want to, just to get a cop. You want to know what the ARV is for me. There’s a difference between an as is cop and an ARB comp. Um, so the two different things for an as is, is what could you sell it for in its current condition right now?
Speaker 2 (00:29:31):
Okay. Or what could you sell it for once it’s fully fixed up and does it compare to properties around that? Okay. So that’s what I’m referring to when I use the term ARV and as is, okay. I also use comps. That’s another word for comparables. So what, what I’m looking for is what compares to this home. You’ll often hear realtors call this a CMA, which is a comparative market analysis. Okay. So CMA comps as is ARV understanding these different terms and what numbers you’re giving and how to look at them is really important. So before I can even get into the numbers, is it okay with everybody? If I show some basics on how to analyze what a comps are on a, on a property and what are some things that you might want to look for? Okay, cool. So I don’t mind, I know for a lot of you, this may be old news to you, but I want to make sure that everybody completely understands this in the short amount of time. Okay. Um, if you would, uh, my, um, screen-sharing is disabled. Um, Kristen, if you would give me the ability to share my screen,
Speaker 1 (00:31:07):
Let me touch base with her.
Speaker 2 (00:31:10):
Yeah. Okay. So what I’m going to be looking at is I’m going to be looking for comparable property to my subject property. So anytime you’re looking for a particular property, um, you want to look and see what the comps are, and there’s some real big things that you want to look at when you’re looking at these cops. And I’m going to show you right now, um, how to look at that utilizing deal driven. Now I can do an entire webinar on deal driven. So I’m going to like, literally skip some formalities here and just go straight to showing you how to analyze what a properties in value is going to be. Okay. So I just pulled a list. I’m in Georgia. Um, I’m going to look at some properties in Chicago, Illinois. Okay. So I’m just going to pick one here. Um, I don’t know.
Speaker 2 (00:32:01):
Let’s look at LaSalle street. Okay. So when you go to deal driven, there are some things here that really matter. Or you go to any website when you’re looking to, um, when you’re looking to analyze what an ARV or what an as is compass. Okay. Number one, you must know the beds and the bathrooms. This, this house is a two bedroom, one bath house. Okay. Does a two and one compare to a four bedroom, three bath? No, it does not. So you want to look at recent sales, not things that are listed, if it is not sold, it does not matter. It only matters if it’s pending. Okay. Or if it’s sold, but mostly sold here, then I’m going to look at the year built and I’m going to look at the square footage of the property. Okay. So theaters, some major things that I want to look at here.
Speaker 2 (00:33:00):
So bedrooms, bathroom combo year built because the house built in 1920, does that compare to a house built in 2006? No, it does not. Okay. You’re not comparing apples to apples. We want to make sure that you’re looking at similar properties. You all remember earlier, whenever Peter was saying the God took them out and then he took them outside of the neighborhood to look at this other house, knowing these things would have stopped. Something like that happening could possibly stop something like that happening to you in the future. Okay. So the next thing, if you’re utilizing deal driven is we have some valuations here. So the estimate and valuation on this house of what deal driven is giving it is saying, ah, it’s around 105,000. This is an algorithm of sales that have happened recently in this area. But it’s also saying, gosh, it could sell for as little as 65, but maybe as high as one 50.
Speaker 2 (00:34:03):
Okay. So you really got to get these numbers down because the difference between something being worth 65 and one 50 is huge. I mean, huge. I mean, could you imagine buying a house and you thinking it’s worth one 50 and is truly only worth 65? That’d be terrible. That’d be terrible. Okay. So next thing, now that I know it’s a 201 built in 19 2990 square feet, I want to go look at the comparables. Okay. So we’re going to click here and comparables. And what this is going to do is this is going to place a map of comparables in this area. Now, this random house that I picked, obviously it doesn’t have a ton of comparables here, but can anybody tell me just by looking at this, which one of these properties is, which one of these properties is most comparable to assault street?
Speaker 2 (00:35:05):
If you’re looking and go ahead and put this in the chat, because this is huge. Okay. And actually it’s a huge difference. The difference. This is almost $15,000 difference here, Eric, you guys are so right is, well, a couple of you. Um, let’s see here. I’m gonna, I’m going to explain to you, we got both difference of opinion. Some people are saying 1 41, some people are saying Perry avenue. Here’s the way that I’m going to look at this. Okay. Do you see this west 103rd street? This is not a huge major road or anything. So I would fair to say that these homes are similar in distance. Um, not similar in distance, but they’re probably in the same type of neighborhood. If I were going to look at a property here and I was really going to look at a comp, my choice would be period.
Speaker 2 (00:36:08):
Okay. It would be peri-op because Perry AV is almost adjacent behind this particular property. Also look at the sell date here. Perry ad-words sold in March, not March, may of this year, May 17th. Whereas one third place was sold 10 22 of last year. Also it’s a two and one, and it’s got 1,007 square feet. Now our subject property has 990. See that’s okay. We’re only, that’s only off button. That’s not all that much at all. And literally it’s right beside it. So now, if I really wanted to take this one step further, now that I know that I’m the most confident in, in Perry app, I, um, what I’m going to do is, is I’m going to actually look at Zillow. Does anybody want to tell me why I look at Zillow? Do I think Zillow is a hundred percent right? All the time. Absolutely not. It is a computer algorithm. Does anybody want to tell me why? I look at Zillow Yaz? A reference? Good one.
Speaker 2 (00:37:20):
I’ll tell you the, mostly the reason why I look at Zillow is because what do you think sellers are looking at? Yeah. Sellers are looking at Zillow. They’re email@example.com. They’re looking at, at all of these other sites to find their values. So you better know what Zillow says, whether Zillow is right or not. Okay. So number one, I’m going to just take this address. Copy. And I’m going to paste this right into Google. Okay. Let me go over here to my other thing. Somehow that side is stuck on Yahoo and who wants to do that? All right. Let me make sure I’m sharing the right screen here. Okay. So I’m going to go to Google here and I’m going to copy and paste that address from data-driven. Now that I’m looking here, um, on LaSalle street due to do, I’m going to look some more and see what it’s saying.
Speaker 2 (00:38:38):
Okay. Now you’ll also notice there’s something that happened on this property. Peter, the tax records show that it’s a two and one. When the realtors put this property into the MLS years ago, when they put this property in here, you’ll notice it is now changed to let’s see a four bedroom, two bath house. That’s a big difference. This is why it’s good to look at all of, if you’re really analyzing a deal to really look at these, you’ll also see here because Zillow aggregates from the actual MLS that it was it’s been listed for sale for $40,000. It went listed, it went pending, it went listed, it went pending. Do you know what that means? When something’s $40,000 and it, and it gets, it goes pending and it doesn’t sell multiple times. Anybody want to tell me? And I promise, I’ll get to the numbers here, guys.
Speaker 2 (00:39:46):
Yeah, of course it fell out of escrow. Marina says, it’s not a deal. I guarantee there’s something seriously wrong with this house. There’s something seriously wrong with this house. Meaning probably a foundation issue of some sort. Um, well you can tell by looking at the pictures, obviously it needs a full rehab. This is not a deal. So you can even tell by looking these things are only worth 120,000 at best. And this house needs a full gut, which is about a hundred thousand dollars with the way materials are right now. So, and just a quick second, I was able to find a deal and we’re, we’re able to look at comps and, and learn, but let me get back to the numbers. I’m sorry. I got too excited thinking this was already a deal. And I was helping somebody from making a bad mistake. Like ed said, there’s water in the, in the basement.
Speaker 2 (00:40:39):
This would be a property okay. To wholesale to another investor. If you got it low enough, but I could tell you, you need to get this at probably 17, $18,000 to make this still work because it didn’t work for investors at 40,000. Okay. So now that we did a brief overview about comps, um, obviously you, you really want to really make sure that you understand what comps are and that you’re understanding what realtors are giving you as comps or what you’re looking at on your own. So here’s the major things you want to house in the same area, in the same neighborhood, if possible, at the same general location, literally you could be in one neighborhood right next door to this neighborhood. And a house could be worth a hundred thousand dollars more here than it is here. And let me tell you, I learned that lesson the hard way. Remember Peter, when I lost $105,000 a year money,
Speaker 1 (00:41:39):
I did I talk about it all the time? Yeah,
Speaker 2 (00:41:42):
That was literally because one street over was different in comps by a hundred thousand dollars, dah, duh. And so knowing that and understanding that it needs to be in the same area, the same type of house, same bedroom, bathroom, same year built, very close to the same amount of square footage. Okay. So that’s the basics. When you’re looking at comps, don’t ever let someone compare a 3, 2, 2, a two, one. Okay. That’s not comparable. All right. So now that we have a basic idea of comps and an ARV, let’s talk about doing a fix and flip. Okay. And these are going to be numbers on the you’re going to use if you were to do a buy fix and sell. So when I say a fix and flip, I literally mean buy from a seller, take it down. How are just like we were talking about earlier, like we did with Ms. Patricia’s deal in Orlando, Florida.
Speaker 2 (00:42:47):
Um, we bought it, we’re fixing it and then we’re going to resell that property. Okay. Um, yes, we can use comps on the MLS. However, just because somebody’s licensed does not mean that they know how to calm. And I don’t mean that to be ugly. They don’t teach them the stuff that they need to know in real estate school, in my opinion. So, um, you want to verify your comps from your realtor, but if I were going to fix and flip a property, I’m going to look at the ARV and I’m going to look at the repair cost. Okay. Is everybody with me? So the re I’m going to look at the ARV and the repair cost. So let’s just make up a deal. So let’s say I w I’m going to buy a house and I could sell the house for, let’s say 200.
Speaker 2 (00:43:37):
I mean that I could sell it for $250,000. Okay. So once it’s fully fixed up, I could sell it for 250,000, but geez, for me to get it to the $250,000, I would need to spend $40,000 to fix it. Right. So I’m going to need to buy it and put $40,000 into it to make the 250,000. I’m going to give you guys a basic formula. This is where you need to take notes. I E take notes right now. Okay. So I’m going to back this deal down. So I’m going to take the ARV of, let’s say the $250,000. Okay. Now I’m going to multiply this number by 65%. Okay. You could use in a fixed and flip anywhere between 65 and 70%, 65% off is a killer deal. 70 is a marginal deal. And I know you’re thinking, oh my God, people are buying at 80%.
Speaker 2 (00:44:46):
Yeah. And that’s dumb in my opinion. I mean, maybe I shouldn’t have been so Frank, but you always should make at minimum between 20 and 25% profit on a deal. When I, when I take off 65% or 70% right off the top, what that does is that beds in my, that beds, in my profit, for me, that also beds in my closing cost because I got to buy it and sell it. And that is also going to bed in my real estate commissions, I believe in always hiring a great licensed real estate agent to handle the sell of my property. Okay. I want someone that is a bulldog and great at negotiations for me. All right. So now that we’re there, I took the two 50 times 0.65, which is 65% of 250,000, but oh, wait. The property needs work. Right. So now you’re going to have to subtract the work that needs to be done from that number. What was it that we said the pretender was 40,000? I think it was 40. All right. So you’re going to take the 40,000 off of this number.
Speaker 2 (00:46:03):
So now for you to do an actual buy, fixed and sale, your purchase price should be around one 20 to 500. Okay. I’m going to do this one more time. Is everybody seeing my screen here with a calculator? Okay. So we’re going to do this with the 70%. So remember 1 22, 500, I’m giving you a range of what would be considered a good deal as a fix and flip. So 250,000 times 0.7, zero 70% of 250,000. Now we’re going to subtract the 40,000 that is needed in repairs to get it there. And it’s 1 35. So in my opinion, if this deal, if you get this under contract between one 20 to 500 and 135,000, you’re looking at a good and a great at a really good fix and flip, unless it’s just a few thousand dollars over this, I would never do a fix and flip unless it matched these numbers. Okay. Now, for a lot of you, when you first get started doing this, like, oh my God, but it’s one 50 and we get emotional about it, right? There’s no emotions when it comes to numbers. And if you do not stick to your numbers, you will lose money. You will lose money and we don’t want you to do that. Okay. So now is everybody clear on fix and flip numbers before I move on?
Speaker 2 (00:47:43):
Just give me a thumbs up. Yeah. Got it. Thank you guys. Thank you. Okay. So now I want to talk about a wholesale deal. Okay. So when you’re wholesaling, right, you’re placing a property under contract and you are selling the equitable interest in the contract. Okay. At a higher price to somebody else, never say you’re selling houses, only licensed real estate agents sell houses. Okay. What you’re doing is you’re selling the equitable interest in the property because you’ve placed it under contract. So a lot of times people start out with wholesaling, um, and they don’t understand fix and flips, or they don’t understand rentals for you to truly be a great wholesaler. You’ve got to understand what exit strategies the investors are selling to are. Right? So you want to know what these exit strategies are. So I want to show you how to price, how to price a, um, a wholesale deal. Okay. So we’ll use that same property. Now. I’ll tell you my, my numbers are going to be higher and y’all are going to be like, Julie, this makes no sense, but I’ll explain it to you in just a minute. Okay. So I’m going to take my handy dandy calculator out. We’re going to take the same house for 250,000. Okay.
Speaker 2 (00:49:20):
Now I’m going to reverse engineer this, and I’m going to go all the way to 75%. Okay. I’m going to take two 50 times point 75, 70 5% of 250. Now I’m going to subtract my 40,000. Okay. Because again, I need to look at this just like I was going to buy, fix and sell this house. Okay. So as you’ll remember on the fix and flip 1 22, 5 hundreds of screaming deal, right. I’m saying when you’re wholesaling, you could almost go all the way up to 1 47, 500 or even 150,000 and give it a try. But then you’re like, well, Julie, that means the backend. Buyer’s not going to make as much money, right? Yeah, you’re correct. But I’ll tell you all day long people will make poor decisions in purchasing homes. Okay. And, and because they get emotional and I’ll tell you lots and lots and lots of heck, most people get emotional about this.
Speaker 2 (00:50:31):
You could wholesale the same deal and probably add, I don’t know, $10,000 on top of this and sell this property for 1 57 and five, because the investor is going to think, okay, well, I’m going to put 40 into it. Right. And then I’m going to sell it for two 50. So I should make 250,000 in profit. And yes and no. When you’re looking at the cost of hard money, you’re looking at all these things, but that’s the range that I’m telling you anything below $150,000 on that particular deal, I would 100% place that under contract. Okay.
Speaker 2 (00:51:15):
So no, Gordon, I’m not going to subtract my whole selfie. I am going to add it just like I showed you. Okay. A lot of people subtract the wholesale fee there, but I’m looking at it is, is that I’m at an appointment before I ever went to this imaginary $250,000 house, I’m going to this appointment, not knowing whether I’m going to fix and flip it, whether I’m going to wholesale it or what I’m going to do. So I’ll want to know my numbers before I go. So I think to myself, Gordon, I’m going, geez, I really need to be at 1 22, right. 1 22. And I have got a screaming, good deal. I mean, all things are right with the world, but I’m telling you, if you get it all the way under contract up to 150,000 on this particular deal, I would give it a try.
Speaker 2 (00:52:06):
And a lot of you are probably thinking, give it a try, Julie, what are you talking about? Yeah, I’m going to say it. You should not close on every deal that you put under contract. If you’re, if you’re being aggressive enough, real estate goes in and out of contract, even when they’re listed with realtors. Okay. If you truly want to be successful, you want to put as many deals under contract. Now, if the seller wanted 180, there’s no fricking way I would do it because that’s just unrealistic. But at 150, I would give it a try.
Speaker 2 (00:52:44):
Okay. So I want to make sure that everybody is clear that hail Gordon, I’m glad you had a light bulb moment because you, you, I want you guys to understand this particular thing. Cause I don’t want you walking away from good deals that you can make money on right now. Um, the other thing is because here at partner driven, we have some special abilities because of the contract that we use, um, because of the contract we used, we have the right to pre-market our properties onto the MLS. Okay. Um, and when you, when you’re able to do that, the reason we’re able to do that is because we’re able to double close, okay? You can not assign a property to an end buyer. Whenever you are doing, whenever you are utilizing the MLS to sell your properties, your wholesale deals. So we get them under contract.
Speaker 2 (00:53:47):
The seller signs, an agreement that allows us to right to pre-market the property onto the MLS in a normal wholesale deal. You were assigning your equitable interest to the end buyer or the other investor. And then you’re making, what’s called a wholesale fee, which is great, right? Well, we is, especially in this market right now. We’re actually making more money by listing it and actually paying an agent to help them sell our properties by double closing on the deals. Okay. So with us having the ability to do that, guess what, there’s another opportunity out there that most of you don’t even realize that our partners right now, and even if you’re not a partner, the only way you’d really be able to do this is you’ve got to have the cash to actually close on this deal even as just for a day or two.
Speaker 2 (00:54:40):
Okay. But I’ll explain to you my thought process here. So does everybody agree with me that the market is really hot right now? Give me a yes. And the check. Cause I want you to follow along with me here. Okay. So you are seeing people paying above market value. Um, definitely what they’re getting for the listing for. So there’s another opportunity that’s opened up right now that is not normally open and is what is called hoteling hoteling that is mixing hotel and retail together. Okay. So you’ll notice that sometimes you’re going to go to appointments. Okay. People that won’t cash offers, not every appointment you’re going to go to is going to be just a house that’s in terrible shape. Okay. Sometimes people need to literally sell their house for other reasons. And it doesn’t mean that the house is in distress actually tomorrow at 4:00 PM.
Speaker 2 (00:55:48):
I have an appointment for a house. Just like I’m about to tell you, heck you know what? I’ll just tell you about this particular deal. Okay? So on this deal, the seller, I looked at the comps on this house, if the seller in its current condition, and by the way, it needs to be financeable FHA or VA or con or conventional because you’re only going to be in, okay, I’m misstepping here. You’re only going to be able to accept conventional loans on the backend of this, but it has be able to pass financing. What are those financing things? A house is not going to pass financing with a back end buyer. If it’s got a bad roof, if it’s got bad electrical, bad plumbing that you know, AC unit, and I’m talking about not investors buying this house, I’m talking about homeowners buying this house, looking for their family home. Okay.
Speaker 2 (00:56:50):
So if it’s got a roof older than 15 years old, probably not going to work or an AC, you need it to be able to be a family able to move in today. Now, honestly, if it’s got ugly carpet and it needs painted, that’s really not a big deal. Okay? Because buyers right now are buying everything. And those are not things. The lipstick things, those are not things that will make a house, not pass financing. But I want to tell you about this deal in, Georgia, that I’m going to look at tomorrow. So right now I’m new. If I was to put it on the market, I could sell this house, um, with the realtor. Cause I’ve already had my realtor friend check it out. They could list and sell this house for me for $425,000. Okay. Is everybody with me?
Speaker 2 (00:57:36):
All right. So if I were to, and I’ve got to come up with an offer to give this lady tomorrow, and by the way, I’ve already given her a Plymouth preliminary offer over the phone so I know I can sell it for 4 25. It needs no repairs. It’s a beautiful home. She just needs to move because her husband got a job in another state and they literally have to move in four weeks and they do not want to have to pay two mortgage payments at the same time. Right. And because they’re moving, they don’t have time to hire a realtor to do all this work for them and have showings and all this good stuff. So the way that I’m looking at this deal, it’s in great condition. I know it can sell for 4 25. This is whole, um, hotel having this deal. I’m going to take the 4 25 and I know right off of the top of this 4 25, I’m going to have to pay at least 6% in commission. And I’m going to have closing costs. So let me tell you, because I’m going to tell the seller I’m going to pay all of her closing costs. That’s always going to average out to about 10% in the end. Okay? So I’m going to take 4 25 times 10% right off the top. I have to take 42,500 right off the top of my price of 4 25. That’s how much it’s going to cost me to sell this house, right? So that means any. So I’m at three 80 to 500, anything below three 80 to 500 is profit.
Speaker 2 (00:59:25):
You hear it. Are you guys hearing this? So now I’m always on a deal like this. I’m going to bed myself in here at least 25,000, because I want to make $25,000 on this deal. Okay? Not to mention things, come up. People will renegotiate. I always bet. 25,000 in profits. So on this house that I’m going to look at it tomorrow. Okay. I can offer her up to $357,500. I’m pausing here because I want you guys to have an epiphany for a minute here at partner driven, we will help you do these deals. So when you’re going to look at these beautiful houses, look how much you can offer this on this home. You make 25,000, the seller’s happy. The agents happy. This is a great deal. Obviously the lower you get this, the more money you’re going to make, but this only works in a bullish market like we’re in right now.
Speaker 2 (01:00:34):
When property sit on the market for six months at a time, this will not work. This only works in properties. Don’t sit on the market for very long. Okay? So that’s what I call whole tailing a deal. Now, by the way, we have went through a lot this evening with numbers. And I know, you know, it’s a lot, it’s, it’s a lot of stuff thrown at you today, but by the way, these are the things that we talk about in our training every day. Like, oh, by the way, guys, for those of you that are partners, don’t miss my call in the morning at 9:00 AM called fun with numbers where we’ll be able to discuss all of these things that are on here, um, that we’re talking about now. So Peter, those are three ways, um, for you to find deals. This does not even include all of the creative financing deals that are out there, but this is some of the basic numbers that you can look at when doing wholesaling fixed and flips and the whole tailing just don’t miss these deals partners. Don’t miss these deals. They’re out there, they’re out there. Um, so just know that call is at 9:00 AM Eastern standard time for all partners. Do you know what the link is be there for my session in the morning, fun with numbers, for those of you that are partner driven, max partners, this is something you and ask. We talk about every day, right? We should be always going over every deal, making sure we’re not missing a deal.
Speaker 1 (01:02:18):
You know, it’s interesting that if you guys listen to Julie for the last 30 or 40 minutes, pretty much everything she said in terms of analyzing was totally opposite of my conversation. Non-emotional non getting information from somebody who you don’t know, not getting, you know, involved in a deal that you shouldn’t be getting involved in. It’s all very black and white. It’s all very numbers driven. It’s all very logical. And you know, one of the things that we pride ourselves here at partner-driven is giving our partners this kind of information, this kind of tools and this kind of resources. Now, Julie, if you don’t mind just taking a couple minutes, maybe doing a quick summary day, we have now leveled up partner-driven and um, we have now introduced what we call a partner-driven max and him and max is in essence, what I did with Julie 10 years ago when I met her, when she basically rebuilt my whole business from scratch.
Speaker 1 (01:03:22):
It’s what she did with one of our most successful partners at this point, if not the most successful Seth, when we met Seth, gosh, I think about three years ago. And Julie said, you know what? I think I can step into the same role I did with you, Peter, with Seth, and now we’ve done well over a hundred deals. And now we have re-introduced partner-driven max for a very select few number of people where Julie has the ability to literally step into your business. And in essence, become your CEO. But most importantly, set your business up in the exact same way that she set up my business set up the Seth business and a few other selected people. So Julie, if you don’t mind, can you share a little bit about what happens when people, uh, start with partner-driven max and some of the benefits they get and you know, how they could potentially work with you in that capacity?
Speaker 2 (01:04:14):
Abs? Absolutely. And by the way, this, this is not for everyone. And I want to just go ahead and say that right now. If you were looking to do partner-driven max, you really, really, really gotta be very, very motivated. You got to believe in herself and you really want to be able to do this business full, full, full time, because it is going to require it is going to require a great deal of effort on my part, our employees part and you too. But here’s, here’s what we do here at partner-driven. Max is number one, we help you set up your business for you. Okay? Because in the very beginning, it’s important that you have a legitimate business started. Number one, it’s important to have a business if you’re doing business in the first place. But the real reason I’ll tell you is because you need to have the real business set up so that you are able to take advantage of tax benefits.
Speaker 2 (01:05:11):
I don’t know how else to say that. Um, the next thing is is that if you’re in business, you need brand right. A brand that you’re like excited to put on your shirt or on your ball cap or on your business cards or on your website. We’re going to work with you individually to build your custom brand and logo. Then once we’ve done that, we’re going to build your website for you. Okay? And this is all with your design help. Our people is going to do it, but they’re going to ask you what you’re looking for. Okay, we’re going to do your website. Then we’re going to set up social media channels, such as Facebook and Instagram business pages to hook to your website, which by the way, in the end is the next important part is those things are going to actually hook to your customized CRM system that we have called deal engine.
Speaker 2 (01:06:07):
We offer deal engine to all of our partners. If you’re a partner, you better be using deal engine. Cause that’s, that is legit. Okay? But I’m going to have the developers of that. Set it up for you for your business, because I want them running your CRM system. Okay? I want my team run, pulling your leads for you, getting them skiptrace, loading them into, um, our software so that we could follow up. So, number one, we’ve got the start of the business. We were building the business, we’ve got everything going. We’ve got our CRM system going. We’ve got everything lined up. Well, once we’ve gotten there, the reason I did this Peter or that I want to do it this way is because I want and, and people, I know I’ve got a few you guys here on partner-driven max. Your job is to make as many offers as possible.
Speaker 2 (01:07:04):
My goal is for you to make as many offers as possible because that’s what makes money in real estate. Truly, truly, it’s making offers direct to seller. The more appointments you go on, the more opportunities you have to do deals, the more offers you make, the more opportunities you have to do deals. Okay? So net, I’m going to hire a phone pro for you. Yeah. I’m going to hire them. We are going to personally train them. Me and my team. I even have, I even have a manager whose entire job is to check quality control with my phone pros. I want someone listening to every call, coaching them every day, making sure they’re calling the right amount of people that are on the phone for the hours they need to work. So we will manage your employee for you. The goal there is that every day, at least one time a day, you receive someone that raises their hand and says they want to receive an offer on their home.
Speaker 2 (01:08:13):
Okay. So I’ve tried to take all of the legwork out of this business to set you up in a way to where you focus on the one thing that makes money. And I’m going to say it over and over again. And by the way, even if you’re not in partner-driven max, if you’re in part of driven or whatever, you’re doing, stop doing things that, that don’t make you money. If you have the ability, okay. To delegate those tasks to someone else don’t ever take yourself out of the money-making part of your business, which is the money-making part of this business, this program, because of the leads and the employees. Oh, and by the way, I think this is my, what I think is my favorite thing is you get one-on-one coaching with me. And I don’t mean coaching. I mean, pick up the phone and call me, pick up the phone and text me.
Speaker 2 (01:09:05):
We’re going to analyze each and every deal and at partner-driven max, not only do we do wholesales fix and flips, um, hoteling, but we’re also going to do creative financing deals of owner financing, subject to properties. Um, so we do not want to have any lead left behind, okay. Any lead left behind, we want to make money as quickly as possible. I want you to be doing this business full time. Um, but you gotta be committed because I only would have worked with committed people, right? So you do have to interview for this stuff spot to work with myself and my team. I can tell you I’ve closed a little over 1600 deals in my career. Um, and I have assembled the best team in real estate. You’re going to get the every manager I had at my company is going to work with you.
Speaker 2 (01:10:03):
Okay? So it’s the best of partner driven, done with you? The best of partner driven, done with you? Um, I’ll do this tonight. If anybody on this call is interested in partner driven, max, I’ll tell you right now, it’s somewhere between 45 and $65,000 to be a part of this. Um, it depends on the length of time that we work together. Cause obviously I got to buy leads and do all of these things that we talked about. I mean, heck we’re starting a business, right? It’s really not that much to think about it. When you look at the cost of starting an actual business and what it’s going to give you is it’s going to accelerate the time I’ve done this hundreds of times with different people in different offices. I had like 16 offices ourselves across the us. And that was just like starting a new business over and over and over again.
Speaker 2 (01:11:00):
If you’re interested, there is a way for you to apply for funding and do this for as little as eight to a thousand to 800 to a thousand dollars a month. Okay. Or if, or if you would like me and Peter to finance this for you, we need at minimum $20,000 down because we spend the majority of the money, um, for your business at the very beginning. So we need at least $20,000 down in you and I’ll work out payment plans on the back end, but you gotta be real serious. Gordon wants to know for people who have joined PD max, how long it’s average before their first deal. Well, um, you can ask, you could ask them, but I’ve had deals done as little as two to three months. It takes four to five weeks for me to even get it set up to where you’re starting to get leads in the first place, because I gotta like hire somebody out of the blue, train them, get all the other stuff done.
Speaker 2 (01:11:58):
Um, but, um, two to three months is not out of the ordinary. So hopefully that’ll give you an idea. Um, but if this is something you’re serious in tonight for one of the first times ever, I’m going to give my personal cell phone number out. Okay. Cause I’m taking a few more people, but if you’re interested, you can text me directly. Okay. Text me directly at 6 7 8 9 9 4 9 9 9 8. And then I will under then I’ll communicate with you answer any questions that you may have. Okay. Um, but like I am, I’m looking for a couple more cool people to work with, right? I’m having a blast working with everybody we’re working with right now. I’m loving every minute of it. So if you are interested in learning more about that, if you will, all you gotta do is text me at 6 7 8 9 9 4 9 9 9 8. That is my personal cell phone number.
Speaker 2 (01:13:07):
I will respond to you, but that is all I have for tonight. Gosh, that is all I have for tonight. Um, and Gord, I know you said you wished you had 20,000 to start again. There is a ways for you to use OPM other people’s money to fund your business and be on your way to paying off that loan with the proceeds that you’re going to make with these real estate deals that you’re going to do. Okay. So if you’re serious, you can text me at 6 7 8 9 9 4 9 9 9 8. But guys, that’s all I’ve got for you to not. Did anybody learn anything with fun with numbers evening tonight? At least let me feel good. A little bit. The gentleman learned anything about how to look at some numbers. I’m so, so glad I’m so, so glad. So get out there and make those deals for those of you that are partners. Remember every type of deal don’t be afraid to schedule coaching calls. Enjoy me tomorrow with fun, with numbers at 9:00 AM, Eastern standard time. Hey, that’s all, I’ve got
Speaker 1 (01:14:11):
Amazing night guys. Amazing night. I think everybody, everybody got something out of tonight. So you all have Julie’s numbers for those of you that are ready to level up to extreme high levels. Other than that on behalf of myself and Julie, and most importantly, the team behind us that makes all this possible. We thank you for joining us, Julie and I will be back here at exact same time, exact same place next week. And we want y’all to have an amazing, amazing rest of the night and most importantly, amazing rest of the week. Let’s go chase those dreams and goals. Thanks guys.