Speaker 1 (00:00:00):

Peter and Julie,

Speaker 2 (00:00:02):

What’s up everybody so glad to have you guys this evening.

Speaker 1 (00:00:06):

Totally, totally, totally. We got a bunch of people popping on, so we’re going to give everybody a couple minutes to get on. Gosh, Julie, when was the last time we did this together? Seems like then a month or two, hadn’t it?

Speaker 2 (00:00:18):

Yeah, it’s been about a month.

Speaker 1 (00:00:20):

Yeah. Yeah. But the topic tonight is important enough that we both wanted to be here and address and kind of give our opinions and some facts behind the opinions of what’s taking place out there. So we got some great, great stuff, but we’re so, so, so glad you’re on Julie’s that’s the, usually the time where you say, uh, tell us where you’re from.

Speaker 2 (00:00:42):

Yes, exactly. Because one thing I love is I love to hear where everybody’s from. Um, and we joke around about like having a map, but it was funny. I was in Florida last week and I went to a restaurant and they had these little pins where like, if you visit the restaurant, you put a pin where you’re from and it reminded me of this again. So, but what’s up James, from Portland, Oregon, Gloria from North Carolina. Let’s see here. My friend from Cincinnati, Ohio, Kennan, Dell, Texas, Joe from long beach, California. Uh, Amy Amos from, I think it’s Dallas Greenville, South Carolina, uh, Charlotte, North Carolina, Casper, Wyoming, Judy, what’s up? I don’t know that I’ve seen Casper Wyoming yet earnest from Richmond, Virginia, Indiana Houston, Texas. My goodness. Thank you guys so much. I love to hear where everybody’s from. Uh, Chinatown, uh, Chicago for Ms. Regina. Um, we’ve got Florida Baton Rouge, Louisiana. I absolutely love Louisiana. It’s one of my absolute favorite states. Uh, actually I did a lot of work in Baton Rouge. I’ll used to be in the trucking industry and a lot of the routes that we ran came out of Baton Rouge and they were

Speaker 1 (00:02:06):

Brian’s from, or no.

Speaker 2 (00:02:08):

Right. My husband actually is a little north of Baton Rouge, um, from a small town called crop Springs, which is like, you know, not a town most people know in Louisiana, but that’s where he’s from. Um, let’s see, ma Marty from Boise, Idaho, Keith from bend Oregon St. Augustine, Florida. Love St. Augustine. Let’s see here. Shippensburg, Pennsylvania, North Carolina. Absolutely. Jim brown from Delonda Georgia. I know Jim, by the way, he lives down the road from me. Um, that’s where I’m from and where I live is Delano Georgia, which is in the north Georgia mountains. Peter you’re in Atlanta, right address or a Marietta.

Speaker 1 (00:02:59):

No, I actually do have, uh, we’re actually this, the little town here is called Vinings, but it is, uh, it is part of Atlanta and I’m like literally looking outside right now. And I don’t know how it is where you are, but it is like pitch black. It is like ready to start pouring. We’re actually had a call with, uh, one of our partners today. And boom, you like got hit with lightning and all the power out. It shouldn’t eat. Rob has just like half an hour from me. So I wonder if that rain is now heading this way, but, uh, um,

Speaker 2 (00:03:34):

Who knows? I was glad to miss it though. Crazy last night, uh, Benton, Arkansas millionaire city, California. Is that a real city? Thomas? Does anybody know? Or is he, are you joking with me Thomas?

Speaker 1 (00:03:56):

What’s it called? Millionaire city, California. I don’t know. I think that’s a, that’s a made up. I think that’s a mindset and I love it,

Speaker 2 (00:04:07):

Aaron for my Tampa, Florida.

Speaker 1 (00:04:10):

Well, I think we’re, we’re getting close to one of my kind of weird goals of having every state represented on one of these Tuesday night calls. Um, I mean, my goodness, you sure are calling out a lot of places, a lot of areas today. All right, guys, we’re going to begin starting here and just in a minute or so, we appreciate you all logging on and I’m going to do the state of the union today, you know, state of the real estate union. So we are glad, uh, we are glad that you guys are here. We are going to get rolling, uh, shortly, you know, guys, I’m telling you, this is a good time to have, um, people that might be in your world. And they’re like, well, why are you in real estate right now? W do you want, do you want to be in real?

Speaker 1 (00:04:56):

Do you need to be in real estate right now? This is a good time to let them know about this, because we’re going to give it to you guys straight up. I mean, Julie and I are every day hitting it. We are, you know, if anybody is in the real estate business, it is us. And we have a unique advantage that we’re in it literally pretty much across the United States. So, you know, not that we know it all or claim to know it all, but we’ve got a good, good eye for what’s taking place, what the realities are. So if you’ve got some people in your world that are maybe doubting you or saying, why are you in this business? Or, or maybe yourself, aren’t even sure, like, cause this the time to do it, maybe your husband is questioning you. Maybe your wife’s not for certain guys, get them to dial in this, this we’re going to just let you know what we’re, what we’re seeing and kind of what we, you know, very strongly feel the reality of the situation is.

Speaker 1 (00:05:45):

And, and it’s good to know because I figured a one thing that everybody here tonight has in common is this is our industry, right? We there’s, um, there’s as many different people of different, different geographies, different, different, different, different, but the one bond we all have here today is the bond of real estate. And that is exactly what we’re going to be hitting today. So we are, super-duper glad you’re here. I’m going to get started here in just a minute. Uh, we’ve got a lot of people on very, very exciting. It’s very exciting for Julie and I, when this happens. And, um, um, literally like that question, I asked a couple of minutes ago when we started, I think it’s been over two months since you and I both did it, wasn’t it?

Speaker 2 (00:06:26):

Yeah. I mean, and, and used to back in the day, like last year, right. You and I did these together all the time. Uh, but there’s so many cool things going on that we’ve got to have other people on doing other different things, which is great, you know, um, there’s just so much to share right now with everybody. And so many successes that, you know, that kind of outweighs everything in my opinion. So, you know, whatever we can do to reach out to others, to let them know what’s working for us. That’s what we’re always going to put on Tuesday night because you know, really my goal is number one, you know, one thing about me is obviously I love to make money, but number two, I love to help people. Um, not just people like you, I love to help sellers. Um, I call myself a little bit of a problem solver. Um, and you know, I feel like whenever you, you set your business up like that, then that’s when you’re, you’re able to succeed.

Speaker 1 (00:07:23):

Um, I’m doing something weird and it’s funny that we’re talking about real estate, but the reason I’m heading from the fourth floor to the third floor, even though I’m in real estate, I don’t understand how to use my air conditioning thermostat. And somehow I got it said on, on the program and I can’t figure it out. So it is so, so hot up there. I’m going to go to the third floor here. So that gives somebody confidence, right? You could be in real estate, in light, falling out, understand a lot of stuff.

Speaker 2 (00:07:55):

Well, there’s nothing worse than burning up. I know. I hate that.

Speaker 1 (00:07:58):

Yeah. You, you and I both,

Speaker 2 (00:08:03):

I know when I came home from my trip to Florida last week, I came home and my air conditioner was broke and I literally was like, I’m going to have to go to a hotel. And I’m like, Julie, don’t, don’t, you’re better than this. Just stick it out, wait for it to get fixed, which I did.

Speaker 1 (00:08:20):

Well, listen, it’s that time? Let’s get rolling. Let’s get started. Well, first of all, guys, thank you. Thank you for being here tonight. We’re going to one of the things Julie and I try to do on these Tuesday night calls, whether we do them together or separately, or sometimes one of our partners pitch kits, um, we try to provide some value to you guys and we do it in various ways. You know, sometimes, um, sometimes we tell stories, just kind of stories of like our past our history. Uh, sometimes we have partners on and those are always, you know, those are, those are I think our favorite most of the time, because you know, we’re real life partners doing real life deals and real life struggles and, you know, real life challenges. And we just, we just, you know, w w we love doing those.

Speaker 1 (00:09:05):

Sometimes we have teaching things like we’re de Julian are teaching. And they, in fact, I think last time, Julie and I did this together, we were teaching, I didn’t want to do contracts or something like that. Um, but today we’re going to kind of take an, uh, an all encompassing view. We’re going to look at, you know, what we feel like is the state of the union of real estate industry right now. I mean, what is taking place? I mean, you have to be, gosh, you’d have to be like living outside the earth right now. Not to know that there’s been, like, things have been flipped up upside down in the last couple of months. So when things like that happen, you know, you, you have to take an, you have to, you have to take a big picture view, and then you have to take a, uh, a microscopic view of how it’s not only the big picture what’s taking place, but how specifically it’s, it’s, uh, affecting you.

Speaker 1 (00:09:52):

So today we’re going to talk about that. And we’re going to talk to you guys from our perspective. You know, we’re not going to sit here and tell you, this is how it is for you. And this is yours. We’re not, when we’re not here to do that, we’re going to tell you how it is from our end. And our end is a unique ed. You know, we invest all over the United States. You know, I just literally literally got done and I took a picture of it. I think I just literally got done here. It is, uh, signing some huts. This is a HUD. I had the notary come to my house on a deal. We closed on the west coast, you know, here, Julian are an east coast. So we do deals all the way from the east coast to the west coast. Um, and so we have a very unique perspective on this industry.

Speaker 1 (00:10:34):

And, and guys, we’re not here to sugar coat things either. We’re not here just to tell you, oh, there’s nothing happening out there. You know, it’s just, you know, everything is the same, that that’s not our goal today. Our goal today is just tell you what it is that we’re seeing. Um, but most importantly, I think above anything else, we want to give you some answers, like, how are we navigating through this? Because we are, you know, we made a decision here when the pandemic hit, you know, it’s been, I guess, three or four months ago that we were not going to slow down. I mean, we got together, you know, Julie myself were off, uh, uh, we got together because back then everybody, you know, all, all the people in any industry were getting together, kind of the owners or leaders of anything. And they, I don’t think there’s anyone in business back then who did not have to make some decisions.

Speaker 1 (00:11:24):

And the decision we made back then was that we are not slowing down. I mean, so from day one, the perspective is very simple. We made a decision right up front that we were going to tackle whatever was coming up and guys novel down. Yeah, we were, we were going to double down, we were going to actually increase. And, uh, and before I kind of get into the, is what started happening in, in trajectory of our business. Um, I wanna address you guys for a minute specifically of who’s listening here tonight, because you know, Juliana had been doing these Tuesday night calls for a long time now. Well, over a year, it’s the one thing that she and I have committed to a long, long time ago. And we’ve never deviated from Tuesday night calls because we found out that these Tuesday night calls is a way for she and I to get our message out to the world.

Speaker 1 (00:12:13):

Okay. I mean, there’s different messaging platforms we use. There’s different things. She and I do, but we figured out that these Tuesday night calls is, was just one of the top ways that people knew, uh, got to know us. And so as kind of the time went on, as we were doing these Tuesday night calls, we realize they are two people, two types of people that dial in on Tuesday nights, uh, or sometimes in a recorded fashion, listening to us, some of you all here today are our partners. Okay? You, and you know who you are, you are full-blown, you are in it with us. And when I say partners, uh, I mean partners, I mean, the goal of our partner driven real estate model is very simple. It’s how we do deals. We are an investment company for those of you that don’t know anything about, uh, Julie and I were, you know, doing this for 22 years, we’ve done thousands of real estate deals.

Speaker 1 (00:13:05):

And for many years we did deals the way anybody else does deals, right? It’s like CDL do deal and means, find, deal, negotiate, deal, contract, deal, and spec deal, get the money for the deal, buy the deal, do whatever the deal needs requires, and then do the exit strategy or whatever that look like. And then somewhere along the lines, she and I decided, um, and other people in our world, we kind of started swaying and started figuring out what, what can only be so big ourselves. Okay. We can only be stro strong ourselves. So we started changing up a little bit and we started saying, well, gosh, we could do deals, but what if we find some other people that like need help finding deals? And one thing led to another. And now our whole model is very simple. We are a partner driven model, meaning we do deals with people across the United States.

Speaker 1 (00:13:56):

This deal, this hut that I literally just got done signing an hour ago with a notary that came right to my place here. It’s a west coast deal with a partner that we’ve done well over a hundred deals with. Okay. And, and so, uh, some of you guys here tonight, you’re a partners. Some of you are totally brand new. Some of you guys have been with us for a while, and you’ve done a couple of deals with us. Some of you guys have been with us for a long, long period of time, like our partner here, and we’ve done well over a hundred deals. And Tuesday night is just another way for you to connect with us. Okay. You know, and you connect with us in. So as a partner, do you have the ability to connect just like Julie are doing right now? You have the ability to connect with us literally, or, and, or our team literally on a daily basis.

Speaker 1 (00:14:39):

Um, and, um, but this is just another way to connect. This is another way to communicate with us. This is another way to kind of be part of the families we call it. You know, this is part of, this is, this is family. Our Sunday mean Tuesday night at 7:00 PM Eastern. And I get you. I get you for those of you that are partners that are here tonight. I get it because 22 years ago, when I got in this business and screwed it up to no end, lost all credibility, lost all my money. Just like whatever there was to lose. I lost back then. And then some, like I went into the negatives. Um, and then what happened? I started meeting a couple people that ultimately became my mentors and, and anywhere they were, I was there like, you know, they were, if they were like doing a speech somewhere, or they were doing something, I was there.

Speaker 1 (00:15:23):

If they were having lunch somewhere, I’d be like, Hey, do you mind if I tag along, you know, I was, I was just like feeding off people that were more successful than me. And that ultimately was probably one of the biggest reasons why I climbed out of the big hole, like dug for myself in this business. So for those of you that are partners, you know what I’m going to tell you, right? Reset, recommit recharge, and let’s get you to the next level. We’re so glad you guys are here. And we feel after tonight, you’ll be even stronger than you are right now. Some of you all here tonight are not yet our partners. You’ve heard about the partner model. You’ve checked us out. You’ve investigated us. You may have been following us for a little time. You might’ve been following us for a long time.

Speaker 1 (00:15:59):

Um, but our goal for you is very simple. We want you to be our partner. You know, that’s how strong we feel in the product that we have, you know, uh, Julie and I were doing, I think, I don’t know if it was today or yesterday. I think it was today, a meeting earlier with some people. And she literally said, thank you for your business. And, and, and, and, and, and that’s true. I mean, we take pride in what we do. We don’t shy away from it. We don’t shy away from promoting it. We don’t shy away from saying that we feel like it is the ultimate opportunity. I mean, we are, we are, we just feel with everything we have that the partner model, is it at least as we’re, as far as Julie and I, and our team is concerned, it is the ultimate way to become a real estate investor or to continue your journey.

Speaker 1 (00:16:42):

As an investor, as a partner, you get coached by us. You get mentored by us. Um, you get the latest technology from us. Uh, we help you with lead generation. Obviously, if deals need money, we provide all the capital. If deals don’t need money, we show you how to do them to the level that you’ve never seen, like certain wholesale strategies and what we can do with them. Uh, and it’s just nobody else does. Um, so we, we get involved there. If a deal needs construction, we help with that side. Also, we put them on the market, sell it, split the profits down the middle 50 50. And for those of you that are kind of on a kind of on the fence, or have been in the fence in terms of being a partner, we didn’t want you to be an offense anymore. Um, so anytime tonight, or if you’re listening in a recording capacity, um, or after tonight, just simply go to www dot partner-driven dot com.

Speaker 1 (00:17:30):

I’m sure there’ll be links somewhere in the chat about there. You could see some of our real life partners that were doing great, amazing things with, but your information in there, and, you know, a team member will touch base with you. And before you know what, you too, we could be part of our family and that’s how we feel it. Now. It is literally our family and we’d love our love. It’s our family. Yup. There is no question. No question about that. All right. Well, let’s get to the topic at hand guys. The topic at hand, today’s very simple. It is a state of the union, you know, and, um, and everybody knows what the state of the union is. Every president, I don’t know how long, but for a very long time, every president gives us state of the union. Right. And it is just a global picture of what is taking place, uh, in this country.

Speaker 1 (00:18:17):

Right. And we feel, you know, w we feel it’s important to do a state of the union, um, in the environment we’re in right now. Because as I mentioned earlier, we are in unprecedented times, where are literally in unchartered times. And there’s nothing to do with real estate. I mean, you guys know what I’m talking about. It’s obviously about the virus to COVID and it’s something that most, well, I think, no, I, when I, when I say most of us, every one of us, none of us have lived through what’s taking place right now. And, and let’s face it when you go through times like this, when you go through situations like this, everyone has options, right? I mean, because it’s unchartered, there is no like this manual, you know, maybe next time we go through some kind of a virus, we could all look back and say, aha, here’s the perfect path through, through a virus.

Speaker 1 (00:19:05):

And this is how you navigate it. And this is how you come out on the other side. Well, guess what, there is no manual for coming through a, a virus, right? Because none of us, I think the last time there was a major virus, well, I know none of us, it was over a hundred years ago. None of us were, uh, were alive back then. So there is no manual for this. There is no, uh, you know, it’s a little bit like raising kids, you know, I got three kids myself, and there is absolutely no manual for raising kids. Okay. If there was that perfect manual, we we’d all read it. So, because we’re all going through it at the same time, we felt it’s important for us to tell you what we are seeing out there, how we are treading the water, how we are navigating through this and what we’re doing to literally grow our business.

Speaker 1 (00:19:55):

Um, and, um, but that’s an th th that’s an important statement because let’s face it before this virus. There’s probably no business owner out there that would say that they would not want to grow their business. Right. I mean, before this virus, I thought it doesn’t matter whether it was a job you had, whether it was a business you had, you know, in a job, you want it to get to the next level, make more money, get more promotions, have more, you know, vacations. If you had a business before the virus, you want it to have more clients have more customers have more revenue, right. But when this virus hit, um, there were some things that were then put on the table that really weren’t even on the table before such as a lot of people slow down. I mean, a lot of people looked at this virus and their decision was to slow down.

Speaker 1 (00:20:41):

Now, by the way, guys, the one thing I want to tell you guys tonight, ju ju Julie and I are not here to judge. We’re not here to like, make DISA, like say, well, that’s a, that’s a silly move that person made. We’re just kinda here to lay it out. And ultimately we want you guys to make your own decisions. Right. But when the virus hit, people were faced with unprecedented decisions and, and some of those decisions were literally were, um, um, I want to slow down whatever I’m doing, whether it’s in my job, whether it’s in my occupation. So in, in school, like I have a daughter that literally just called me and, you know, I’m just thinking, well, guess what? In school, they slowed down. They stopped like here in Georgia, we stopped school. And I think they did in most of the states.

Speaker 1 (00:21:24):

So there were some decisions that people made during this virus that literally put them backwards. I mean, no matter what, no matter how they’re going to navigate through the virus, they knew that they were going to end up in a backwards position because they made that conscious decision. Right. They made a constant students to slow down. Some people made a conscious decision to stop. Some people made a conscious decision to literally get out. Okay. Um, and as Juliana, we’re talking a couple minutes ago, we made a decision here at partner-driven as an investment company that we were not going to slow down. And as Julie just mentioned, we were, we decided to do something like that. I wasn’t even aware too many other people did. And we decided that we were going to double down. Um, and we decided that for a number of reasons, you know, we didn’t, I don’t want you to think, like, we were just like, we’re so brave.

Speaker 1 (00:22:15):

We’re so smart. You know, we’re just like, everyone’s scared and we’re not okay. We had all of those feelings, but here, here, let me tell you the kind of the logic behind increasing actually in our industry, the logic we used was very simple. We saw right away. And if you’re in the business now, I mean, you’re seeing it. We knew that anytime there’s a change in anything, it usually clears the playing field. Okay. I mean, that’s really what happens when change happens. Like, let’s say the market’s going up and then naturally goes down. Well, guess what? When a naturally goes down, even without a virus, there’s a clearing out of the playing field. Right. I mean, it just naturally happens. Cause people, you know, there’s a perceived notion that it’s tougher. There’s a reality of a slowdown down market that it is tougher. And, and, and let’s face it in during tough times.

Speaker 1 (00:23:12):

Most of the time there’s a clearing out of the industry. So part of the reason we decided to double down is that we realized there was going to be a clearing out of this industry. Also, we knew that a lot of people would start getting out. Okay. I mean, it’s just because people were getting out of everything. They’re still getting out of everything in, in, in, in, in, in a lot of cases. So the first thing is we looked at the competition, you know, because as an, as, as anybody who’s in business, there’s a couple of factors you need to evaluate when you make decisions. Part of those factors is competition, right? Like, uh, let’s say you’re trying out for soccer team and you’re a pretty decent player. You show up at the tryouts and there’s 600 people trying out. That’s a lot of competition, but then across the field, you look at kind of that tryout, you know, for the same type of team, there’s only 20 people like my buddy is walking over there because there is no question, less competition is good.

Speaker 1 (00:24:11):

Okay. I mean, you know, competition is in itself. There’s some positives to it, but I’d rather be in a playing field with a lot less competition. Ultimately, ultimately I want to be in a playing field with no competition. Okay. So the first reason we decided to double down is we decide, we knew there’s going to be less competition out there. Okay. The second reason that we started decided to double down is because right away, when you started looking at the factors that were taking place on the money side in real estate, see the one thing is you cannot be in real estate and not look at the financial side of it because every, just about every real estate deal, there’s a financial component in it. Like, um, you gotta borrow money or you’re maybe using other people’s money or maybe a family money or, or using cash.

Speaker 1 (00:25:02):

So there’s not too many real estate transactions that take place without the financial side. What I started realizing very quickly as this virus hit, that also started playing in our favor. Okay. Because what happened is this is the virus started and continues to hit, right? Even in some areas, I guess I’m hearing it’s even spreading somewhat, but what happened is, um, we in this business as we like all of us that borrow money, and if anyone does any kind of volume in this business, we all borrow money in the end, in this, in the space we’re in, uh, maybe some of you don’t know this, but the sources of money are all the same. We’re all to an essence, borrowing money from the same sources, they just kind of get distributed through different tributaries. Right. Um, and the source for like the kind of deals we’re doing, a lot of single family deals, you know, maybe duplexes, triplexes, almost all of that money in this industry comes from hedge funds.

Speaker 1 (00:26:01):

Okay. Even when you’re going to your local private guy and borrowing money, well guess what, in the back end, he’s getting it from the hedge funds. When you go to the hard money industry, that’s almost all hedge fund money. So almost all, almost all unorganized and organized money is it could be found right back at the, it could be, you know, when you follow the tributaries, it all leads to hedge funds. Well, what happened is this virus started hitting, there were a lot of capital calls, a capital call is when I, as an investor, let’s say I invest money in whatever I invest money in. Um, I say, I want it back. Right? And so the way hedge funds, so many of them get funded is they get funded from, um, you know, somebody one more up the food chain, then them, okay. And a lot of that started literally just coming apart very quickly for a lot of reasons, this virus just kind of a force forced that to happen at a quicker rate.

Speaker 1 (00:27:00):

And so what happened is the money supply. And to this day, the money supply started drying up in this industry. Right? So even for the brave ones that were decided to stay around and didn’t run, they started realizing very quickly. Oh my gosh. And so we started realizing, oh, I can’t borrow money here anymore. Or I can’t borrow money from this guy anymore. Or from this hard money lender anymore. Well, get from our end, that was another reason to double down because our money sources are wide open. Okay. So first a natural clearing of event. Number two, a, an industry caused clearing event, like shortness of money. Okay. So as we started looking at the landscape of this industry, we started realizing that there’s going to be less and less and less players in this. Okay. And even the players that were sticking around, because most players in this industry, they, they, they go to these conventional money sources, even the ones that were sticking around, they became kind of landlocked.

Speaker 1 (00:28:07):

Okay. They couldn’t really do what they were doing before. So, you know, the competition started going down, down, down. Here’s another reason why we decided to double down and, and, and this, this next one, everybody knows about it. Some of y’all on this, on this call are actually experiencing it. We started realizing very quickly. There’s a lot of more motivation from sellers, right. And again, I don’t have to spend too much time talking about it. Everybody listening to us, that’s like, well, no kidding. Right? I mean, COVID member as an investor. What are we looking for? We’re looking for motivated sellers, right? It’s like a catch all word. And what exactly is a motivated seller? You know, there’s a lot of definitions for a motivated seller, but the bottom line is motivated. Seller is somebody that needs to get out. I mean, that is a motivated seller.

Speaker 1 (00:28:53):

They need to get out. And a lot of times they don’t have the wherewithal to do it the conventional way. Like they don’t have the 60 grand, they need to fix this house. So realtor could list it, right. Or they don’t have the five months to sit on that property so they could sell it in the conventional way. And what are those motivating factors? Well, we all know what the motivating factors are, right? We all are aware of them. It’s like it could be, um, a loss of a job. Uh, it could be a death in the family. It could be an up-sizing right. More people moving in. It could be a downsizing. You know, like the kids moving out, it could be a job change. Right? All of a sudden your employer calls and says, um, you know, you’re fired or you gotta move.

Speaker 1 (00:29:38):

Uh, it could be a divorce. So those are the motivating factors that create in the end. Good real estate deals, real estate deals that have equity in them, you know, have an upside to us as investors. Well, what happened during this COVID this was, this became a motivating factor. It wasn’t one that we planned on. I don’t think anybody got into real estate. You know, a lot of people got in real estate to find motivated sellers. Nobody got into real estate to find motivated COVID sellers. Right. Cause nobody even knew about COVID four months ago and it wasn’t really absolutely. You’re absolutely right. Um, but COVID was, uh, became a motivating factor COVID in of itself, forget everything. Forget divorce, forget death, forget sickness, forget kids moving in, moving out COVID itself. Even by people who were not affected by COVID. So usually a motivated seller.

Speaker 1 (00:30:38):

This, this is very interesting. So follow me. I want to tell what I’m telling you here. A motivated seller is someone who’s directly affected by an event COVID became a motivating factor and is still is to people who are not affected by it. So obviously if you are affected by COVID, you’d get more motivated, right? I mean, you might get sick, you might get worried. You might have to quarantine yourself. You might potentially can’t go back to work. You can’t potentially open your business, but COVID became one of a kind motivating factors because it started motivating for people who aren’t even affected by it and who never will be affected on it, just because it’s what we call blood in the street. Right. When you see blood on the street from your neighbor, you naturally start thinking, oh, it’s going to happen to me. And when that happens, follow me on this.

Speaker 1 (00:31:28):

When that happens. Not only is there a lot of motivation, but there is, it gets spread very quickly. Okay. So COVID itself created because what do people do in times like this? They want to get liquid. I mean, that’s really the bottom line when you’re not certain of your financial future, when you’re not certain, if your employer is going to be around, you know what I mean? Some people were getting these PPP loans, right. And guess what? Some employees were like, literally like praying that their company gets a PPP loan so they can go forward. Well guess what? A lot of companies never got the loans, right? So people became whether they were directly affected by or indirectly affected. Almost everybody started thinking the same thing. I got to get liquid. What if I can’t work for the next six months? What if I can’t open the doors to my business for the next six months?

Speaker 1 (00:32:24):

What if I can’t get a customer for the next six months? Well, what do you do? You got to get liquid. You got to have some funds, right? Well, there’s a couple of ways to make money out there. Right. Um, but the interesting thing is, again, this is very unique to COVID because of how it was motivating people, people needed to make big money, right? Like I don’t think too many people said, well, if I sell my iPhone, that’ll keep me going now, what’s it worth 200 bucks. That’s not going to pay the mortgage. Right. So people needed to get, uh, because this, obviously it, it became very clear. This was a, you know, an extended event. People needed to make like $5,000 chunks, $20,000 chunks, a hundred thousand dollars chunks. Well, if you think about an average family, United States, how can an average family make $20,000?

Speaker 1 (00:33:10):

Can’t really do it, right. What’s an average family gonna do. They have to sell assets, right. Well, what kind of assets can you sell? Again? You could sell the little stuff you could sell your silverware, but that ain’t going to get you paying a car payment or a mortgage payment or tuition fee. And so really in the bottom line, when an average American only has one or two assets that they could have a gotten the kind of money they needed to be gone in, the timing needed to. Right. So you see how all these things started happening. So that became another factor why we doubled down because we realized right away, gosh, not that we’re sitting here taking advantage of COVID, we’re just taking advantage of the opportunity that it created in our industry. Right. Um, and so we decided to double down because we realized there is going to be people that need our help.

Speaker 1 (00:33:59):

I mean, there’s going to be people that are going to be like, literally like praying at night, like who can I get rid of this freaking fixer-upper I can’t sell it through a real estate agent because nobody will qualify for a mortgage. Right? So we kind of, to a certain degree, we kind of, you know, took on this, you know, our industry almost got pushed to the forefront of helping people. Okay. And of career of creating things they couldn’t have otherwise created. Right. So that was another reason why we decided to, to, to, to double down so less, less, less, less competition, tougher and tougher, tougher, tougher money supplies to get financing more and more and more pent up demand. And as we started looking at the situation, we said, you know what? This is the time. This is the time that we have to really double down.

Speaker 1 (00:34:51):

Now here’s another interesting thing that a lot of people, some of you guys listening is here tonight, you’re experiencing this. And you know, you hate to talk about it like this, but some industries just aren’t going to come back. They’re just not going to come back at least the way they were before. Right. I mean, there are some industries that have been literally flipped upside down because of what’s taking place that people are going to need to reinvent themselves. I mean, you know, you kind