What's going on guys it's ya man Ed Hayes The Wholesale Coach here back with another video and in this video
you're gonna be able to watch the wholesaling
mastermind group with me and Dora Abasute guys she's a wholesaler out in
Atlanta guys she's gonna be big so go ahead and subscribe to her channel now I'm gonna have all of the links down below guys
and if you pumped for this content go ahead hit that like button now and smack that subscribe button if you new guys
let's go ahead and dive into this content I
apologize in advance for a little bit of the audio quality my audio and video was a little bit messed up
in the wholesale a mastermind group last week guys so
Forgive me but Dora's audio and her video flowed nice and smoothly guys she also posted this video on her channel
like I said go ahead and follow her channel as well guys
And let's go ahead and dive into this concept I think that this would be the appropriate time to
actually you know try to introduce you to the
to the whole seller mastermind and try to
you know kind of get the interview going and then start answering some questions and stuff like that from there let's do it
So yeah yeah, I just want to introduce you you know. I've found dora on youtube
And she's a whole sellable why don't you actually introduce yourself
So the whole seller master man I don't want to do it for you let me not take
Sure
Sure
hello everyone I am Dara and as he mentioned he found me on
YouTube which is great because if he didn't say that I was gonna ask that
So that's one of my nuggets that I'm gonna drop for you guys tonight and I'll probably share several but
that and I get it so I always find out how somebody found you
you know that's just always a good way to express especially in this bit business it's a good way to
Hone down on what's working so clearly my YouTube is working for people to find me so aside from that I
am born and raised here and
and
Georgia which is where I wholesale out of this is the only market that I'm in
I went to school in Pittsburgh, so there might be some potential of me
branching out to the pittsburgh market as well in Pennsylvania and
graduated with a four-year degree in
rehabilitation
science
Something that I'm not using. I've never used and it's crazy because once I graduated from college I
moved back home and
I knew I wanted to take some time off between school again and my plan was to go into physical therapy and
So in my gap year
turned out to be like gap years because I ended up not going to
grad school and I found real estate
Instead and it almost is like you know everything happens for a reason and kind of fell into my lap
so a lot of people asked me how did you get started, in real estate so here's the story hi
I
think I heard an ad on the radio
For a thin Merrill was coming to Atlanta and must've been driving with my mom and we're like yeah
Let's go check it out so he went to his seminar that's literally how we got started
we didn't end up joining his course or his
training but
everything happens for a reason everywhere I went I met somebody who put me in the right direction
To the next step so I was at a thin Meryl conference for three days
didn't sign up for that but I met somebody at that conference who was part of
area here in Atlanta so he invited my mom and I outs of the RIA
and then the Russell's history from that RIA is where I found my mentor and then
Just from there is to just you know connecting dots and just networking and that's really all it's about is
networking networking networking so that is my
Introduction that's a long F introduction. I've ever heard but there it is
Yeah so like what you like a lot of people you know I know I'm in the same situation when it comes to the degree
situation where I got my associates degree in psychology
But I never actually ended up using it you know yeah I definitely know anything recommend a dance well yeah I think
Yeah psychology trust me you're using it you might not think you are but you you
How you intended?
Right
Really they pretty much you know I was I was in a for a couple years
Yeah
Absolutely
And you think you might want to go one way but trust me it's not your story - right
So it's not in your hands. I believe in God so I believe that that's, who is writing your story, so
Means, oh so then what have been like some of the things that you fix like since you became a wholesaler like some of your
Some of the challenges that. I've had that's a great question I think that even till this day
One of the biggest challenges I hate to say it's just finding that daily motivation to be a 100 percent honest because
Sometimes you can find that entrepreneurship give you so much freedom and so much flexibility that is in my opinion
A bad thing unless you put in that structure in that discipline
So for me sometimes it's harder than other days to go out and do what
I got to do no I got a drive four dollars or whatever day-to-day tasks
I have to do so I think that's one of the biggest challenges. I've had to face is just keeping on it
and staying on that grind as far as keeping motivated
Some other challenges let's see I'm honestly truly I would say fortunate
That you know as a woman a young woman?
minority I haven't faced anything dangerous at all knock on wood
You know I go look at vacant properties on myself I got meat sellers you know if my mom can't make it cuz
She's my partner she can't make it. I'll go by myself and thank. I've never had any kind of run-ins with anything crazy and
we're gonna knock on wood again for that
but
So I've lost some money that's that's a challenge you know you never want to do that lost a lot of money
doing this game the wrong way
You know
Oh my goodness guys I lost some earnest money it was and it literally I think for me contract the contract when I first started
out it varied how much owner's money I gave if at all
So initially I would either offer the seller
$10 earnest money or nothing at all because I realized if you don't mention it then then typically not gonna add if they don't know
So this seller
You know he had his wife on the phone cuz she couldn't make it to the showing she's like make sure you get
$500 out of them so you know we we were very confident in that deal like we can move it I was like, okay
$500 that's whatever I don't care
We'll get in you know though she wants that's fine at least she didn't say a thousand so we wrote up the contract got it
signed agreed on the price and everything
this is like the heart until I think
I've ever had to fight for because I
renegotiated my butt off on this deal and everything and it still fell through so because it fell through because we couldn't
sell it and find a buyer
We lost our earnest money because our contract was not tight I can't remember what it was back in the day because it doesn't matter
we tighten it up but it was
We didn't have an out for ourselves
to get our earnest money back
and despite me thinking and trying to read between the lines our attorney was like nah just let this one go because
They're gonna come after you and they'll win because it's just so babe
So again I don't remember what it said but now we just typically don't mention there's money at all so
Yeah that's that's that's usually the better strategy so yeah
You come into the situation though where like like a seller or their attorney
the seller or the attorney just they won't
well I guess yeah you had it happen like in this situation have you had that happen in other
situations where people like they just won't sign for you at all
don't get the earnest money
um
I've not had that situation and
here's why because
If somebody if a seller is so bent up or adamant on wanting me to give her and it's money I'll just be like
okay you know it's a
cutlass it's a thousand five hundred whatever it is
again I know my contract is secure to get me out of it and
to I wouldn't be going so hard if I wasn't confident in that deal so if you're pressed about earnest money I will do whatever
You know more or. Less to put you at ease so you can trust me me okay you know rest easy
So yeah I think that I haven't had that issue
Because it's either they want it or they don't and if they do then. I'm like, okay
I've learned listen first fool me once
Market I think
yeah I know the East Coast the Northeast it seems like
Yeah
I don't even know maybe five thousand it's just a commercial there's no way like it depend on who you're talking to because
you know I started out whole selling in I guess we'll get into that a little bit later but I do I'm a landlord as
Well and I do fixing flip so I'm a cash buyer as well so if I'm dealing with another whole seller and they want
mm that's you know typical but if it's a homeowner
I've never heard them come out their mouth and say anything with a comma because. I'm like
You're not getting
Well yeah yeah, yeah that's sure the realtor would be in their ear
So let me see what's next like I know I got it I got a
Yes I'm not singing see you I'm here Darius was phenomenal brother P what's going on
Good to see you back output master bank proof what's going on people it's
missing a body down here
what's going on piece of y'all in here
hello let us know
Something like that in between questions and interview the answer and all of you all's questions in between the questions that I got
You know drop some love in that comment box over there
I see blue ask me how long have I been whole selling sorry to cut you off
Um so I started in 2016 so in May it'll be three years
Pete Pete says your YouTube channel to awesome thank you thank you thank you nice
Bench telling you out
how's it going how's it going I'm from Phoenix
uncle Phoenix I see you out here
I
hear that's a hot market out in Phoenix
Yeah
In Venus
Jennifer I know you you're a newbie but you see a lot of
houses
out there how is it out there
Glad that you check check Norman's YouTube channel
I hope you got some value from it
What is the sweet spot for the business did the ARB be at least 100,000 plants or can it be
$50,000 less very question plan all right here we're gonna put the gun all right
So like personally I believe that like personally I believe that you give yourself a better chance of
like getting a decent
Break and when your property goes over a hundred thousand but it really depends on just the area and the type of buyers that you
looking for that's really a question that you should be asking your cash buyer like Maggie wants to spend
more would you like to be
What are you been going I?
Completely agree and I think you had a perfect answer because I was gonna say that's a bit of a loaded question
Because it's really we can't answer that unless we your your buyer so your buyer is gonna be the one to tell you
their price range and what they're looking for as far as ARV goes
I'm not sure if Glenn if you stated where you are but here in Atlanta a
RVs of 50 are like I mean it's doable but
You know so it just depends on those things things like like it's dated it's your marketing your buyers
Yeah
It depends you know
Let's see well show you -
Yeah I got blue it's just my name
eventually I think I'm gonna change it but if you get on now then you'll see that it's my name daraa have a suit a
and I spelt it out there for you guys
So Pete has a
That is a great question Pete so I know I said I'm going on three years
but ed and I had this conversation the other day and we kind of started around the same time and you can just see the
difference in our paths that's just really anything in life so it's really still just
my mom and I and we have a few bird dogs and a few interns who are unpaid and that's was our way of
instead of getting like
an acquisitions or somebody who we would have to put on salary or Commission we have people who are interning
and want to earn while they learn kind of things so
Not to a point where. I've scaled just yet but that is definitely to come and this is something
I like kick myself about all the time because I do more than just wholesaling
In real estate so I kind of feel myself being pulled in so many different directions that I need to scale
so that is definitely to come
You all have listed some
Yeah yes so we had I mean I think most people do the hey I'll play
$500,000 to be fine
me a house but we like kind of go in on the referral program I got over drivers out there like FedEx driver
mailman like you know these people who are kind of accountable they're in part of a system and they send its properties
As well as like I said people who want to intern and they're like hey I want you to be my mentor but I don't
Have the money they pay you so I'm just like okay bring you into the company?
You know just to see train you a little bit get you get your feet wet and then they learn as they go
You know
Because I see in Atlanta I mean do you want to drop your link to your
Microphone to sign up which I know that you're telling me that you get the one-on-one sessions I mean honestly
People will be watching this in huge Birds window oh yeah!
Some some coaching time from helping people get deals you know that don't want to bring you a lot smoothie
Yeah definitely
Yeah I'll be sure to drop the link
definitely in the chat and so that you guys hear and then those who watch in the future will definitely have that so
Not successfully so the answer's no I have gone after
HUD homes but it for one reason or another just never worked out so I have not
So can you tell us a little bit about that and you know
Yeah
Technical things that have to happen I
Don't want to make it seem like I
Keep you up to date brother I'll send you a text the dollars is the best
Properties in on these beautiful Blanc's and if you get lucky you can get some of these people maybe
Favorite favorite favorite favorite way I love them
Seriously get out there and go see the properties I love John Ford Alex because and I actually have a couple I think maybe one
video on my youtube channel about how I do kind of two-in-one when I'm driving for dollars because
I also drive for buyers so it's kind of like you looking for those vacant properties then
I get I hop out the car to and go look at these active rehab sites and get the
contractors get them you know the owners all those people's information
I was selling a few people this past week they do exactly
Yeah
I was driving $4 1/2 now
free hands if you say like
with a couple real-life cash fighters well yeah people actually
yeah they were in there doing the work themselves
It does
Yeah let's see
Ok so around the same time
One-man job that is why that's a great question yeah it is
I was gonna say peen because your one-man show I'm a two-woman show but so it's just some advice and like I said I'm
2019 taking my own advice but if I thought received from other people, who have scaled and they say that
You know I'm not sure where you are as far as the number of deals you've done and you know your average
profit per deal but save that up yes you want to reinvest your money obviously into the company but once you have the
ability the financial ability to pay someone
do it so figure out what it like the first step that you want to take yourself out of and
for most people it'll be like
marketing or
cold calling you know just the front end stuff that you know I really like to do
so that's the first person you would want to hire
but again I can't tell you who to hire first but just know whenever you are
financially capable to do that get yourself out of that position so you're not you know totally a one-man show
yes, yes that's some real really great advice
seriously that's some really really good advice I
You know you don't want to do that in this ocean yeah
My whole entire strategy
Delegating automate
it's really hard
qualitative stuff in himself absolutely by itself like it will take months if you try to do everything just by yourself honestly believe that
maybe we get a few per year
I don't know so you know it's like a lot of call in
Any business out there is doing in someone else for their time so if you have a job so paying you
Right now from your time all you have to do is save up enough money
So when you could pay somebody else for their time and you may not even have to do it like that because
You've used like my commission based strategy you can get some people to come on each 30 days
to take a check excuse and put in the work for you like Darwin says no get you the intern
I'm putting in some work for the team they can earn
most
it's many different good it's a good
It's a good strategy feet let's just put it like that it's much needed yeah who's gonna axe he says Dora in ATL
do buyers look for ard times seventy percent or 75 percent
since it's a hot market now oh that is a great question
So most of my buyers when I got started in 2016 it was 70 percent that was good and then
some people are definitely willing to pay that seventy five percent, so
Yeah so that's a great question so a lot of people are so just being
safe and sticking with the 70 I even have some like great cash buyers like
you know get on the right deal for the right number they'll buy pulled the trigger and they're at 65%
So yes, I did the hot market but those are the people
who
make me working a little bit harder to find those golden gym nugget deals and because I know that they're gonna pull the trigger
but um yeah 70 75 percent is definitely where it's at you Elena
Okay, okay they're that hot market seriously good old Atlanta though
okay
so pizza as the you need for
So last year you do for deals so yeah yeah, I just said that it's like you'll probably do about
in the yeah I mean depending on the spread that could be good but you know that's true that's true
for a lot of people right those four deals could be more than most college graduates salaries, huh yeah
He says which leads slash listings go after are
Sorry which leads slash list do you go after I
Like probate leads and
I like tired landlord lead so uh eviction leads
So I go to the county court see see in the beginning I went to the county courthouse and sifted through this on myself?
now that's something that is something I delegated
out so I have someone who finds me those leads probate as well as eviction leads and
also
vacant owners so driving for dollars will typically be like absentee owners for the most part and
Like we discussed ed and I said earlier that's the but I love diving for dollars so those are the leads that I go after
Nice okay and
Yes for you I guess most of the licensee before ya know for Atlanta
All right he's like she's in Atlanta I get these questions
Like a few of these questions I wanted to ask you
Whatever so so uh doctor why don't you tell me
Like one of your there's been some of you are like successes that you had you know like what was like oh!
My favorite deal um
I'll give I'll give two and
Two so yeah
So one my very first favor deal it does just came to mind with a joint-venture
and I keep plugging this but it's also on my youtube I have a couple videos about how I think jayvees are the Blake
Talk about delegating letting go partner with another wholesaler and split it 50/50 so there the time where I had a
Wholesaler friend so I had a deal of my own under contract
and I was like struggling with my buyer to negotiate the right price because the seller was pretty firm
So the numbers were I was I think putting it out at
fifty fifty thousand was the price that I was putting it out and my buyer was like no
I want to be at 47 so where I'm trying to negotiate whatever so
you know as God would have it a
wholesaler friend of mine called me and like hey I got this deal in this exact same area he didn't know about my deal
hey
I got this deal I'm putting it out for 47 keep it at that price and you already got two thousand it built in
right and this is literally when I just started I had probably maybe done my own deal
already like one deal and so he calls me and says that and
exact same area that my buyer was fighting for he was like I wanted at 47
hung up the phone and two seconds I call my buyer I got you a deal
47 this one we still gonna work on it but I got you in 47 he ended up buying both of them
So he and I buying both of them yeah and the one for 47 the reason I say this the sweetest deal is because I
literally did not
sweat I didn't break a nail I didn't pick I didn't do anything I never met
I've never met the homeowner I never saw that house to this day I haven't seen the house so a lot of my joint venture
deals are like that I'm never all ideas pick up the phone and call a buyer because I
matchmaking as wholesalers or matchmakers so
that I think the sweetest deals because it's like that's the easiest two thousand dollars
I've ever made it was like my buyer was quick and he closed in like seven days and it was awesome
thanks we had a party at the attorney's office that the clothing on
Yeah yeah
I mean I didn't even argue he said mm I said great I'm not even I don't have to do anything for this mm
So I'll take it right
Definitely Davian in in the video because a lot of people
Ask you about oh, I don't want to get burned because. I've gotten burning JV deals there's ways
you know
when I say joint venture for the most part
I've done joint ventures where I had the contract with the seller
And I had another wholesaler bring me a buyer but for the most part I'm the one bringing the buyer
you know and there's reasons for that too, so
My second paper deal is one that it was not a wholesale deal it's actually a creative financing deal that I still own
today and I still control it and it was subject to and it was like literally
My first creative financing deal I had. No idea what I was like
blabbing to the seller but he bought it you know because
it worked out because he was just so desperate he was a he was a tired landlord lead and
You know I caught him why he was renovating he was in the middle of fixing up his property that his tenants like tore up
So long story short I was like hey the numbers didn't work out I was gonna offer him like a regular
wholesale cash offer
but it just wouldn't work out because he was upside down
so
at least I knew I'm just thankful that I lead I knew who's a lot of people
kind of jump right in I took a lot of time learning
different pockets and she's everything I could about real estate wholesaling
investing in general
So in my mentor actually introduced me to create a financing so I'm very thankful that at that time
Cuz I was still so new at that time at least knew that that was an option
So in the reason I say that is because I was still fumbling to explain what it was like I'm gonna take over your mortgage
but you keep it in your name and yeah we'll go from there
So I mean till this day and it was the greatest
greatest deal and I literally share I love for this deal and what am I you do video
So definitely go check that out
So
that one we have now as our other rental
So that think that's a great strategy for those out there do like get it subject to or at least purchase and then turn around
and rent it and then yeah, no money down and not in my case it with no money down and that's why I love it
Coming across people
like like faulty JD partners or like people who wanna kind of JD deals with you
like what do you typically do when you come across a person that's like
This deal for me in doing well they come with it's like a asking picture
Yeah I'm such a nice person and I need to like grow a stronger
backbone or something because people do that all the time
they just text me an address in a price and
Then I go through the trouble of like finding out the details because I never want to send just an address and my buyers like
I want to do a lot I want to set you up for success
I want to do a lot of the homework for you cuz I know my buyers are already gonna look up their own
comps and things like that but I at least want to make it make sense
You know explain to you why made sense to me you know if that make sense so
I give them address I give them the pictures I give them the scope I given what's going on like what's happening in their neighborhood
You know things like that so if somebody just sends me an address
am, I okay I gotta go through the trouble with your analysis information if I don't already know and
So at the same token that I do love Davies I also never put more energy in a JV deal than my own because
because
One there's very little control with a JV deal and
two if I'm the one finding you a buyer that
whole seller can find you know they can
As ten hundred other wholesalers and somebody can be quicker than me so I don't want to put so much time and energy into their
deals that can just be taking you know it's not you know does that make sense
so
Say it to your question yeah, yeah and you know it doesn't work out so to answer your question um. I do
I
just never it
depends on how I'm feeling actually cuz if
somebody's price is
Ridiculous and they're wanting me to put it out I just ignore it or you know I just be like I'm not gonna shock that
deal for them you know
But I have some very
I've been grateful like I know some people who are like solid and so they give me the whole entire package
Hey this is the property package you know and I just
poured that over because you know they didn't have to make me do any work for
To help them out is that amazing so I've had. I've had both
Say that again
Yeah exactly
It's just copy and paste and just forward yeah
Exactly and and it's crazy because now that I'm actually talking about it and thinking about it I feel like
like I said I'm just way too nice but I feel like those are the people who I should
hone in on more than those people who just give me an address because
you're wasting my time because now you know I had to put in the extra work to figure out what's what with this deal and
And I don't like because when you give me an address that means
I have ten hundred other questions to follow like all right so what's this what's that and I don't want to have to do all
that you know so
You're not serious I
Just can't
Marry to to be with Gina for deals
If I'm doing all that yeah
Yeah because I'm not funny on with it
Yeah that's very true not a very
Come back when you go ask them if they have those things do you have pictures if you?
Look let me I'm taking those because come back to me when you get that because
That's true that's true and you're right and if I do it for you I'm getting more than 50% period
That's part of the reason why I was asking no question yeah
Yeah you all know them but control everything these options you know right it's the first week do
So yeah
When you calculate the cost of Paris, oh!
that's a good question glues the leg would like personally
Probably
like
you might go just out of repair I come out there depending on look it looks like
fire damage and things that
Have like fire restoration come come out things like that
Or like sometimes I'm use a calculation as we know there's like about times the square footage by
just range but like it's like I'm looking rehab or on yeah word that he's
multiply up just by like five it's like the light green a pop I like then 20 and it's like you know having to
then we're doing 30 to 40 maybe slow ferry
Yeah like me personally I'm kind of I'm a little bit haphazard but I personally prefer
To
calculate your repair costs I
typically get a contractor to come out with me and that saves me every kind of calculation you could think of
and or I do what you say as far as a formula so if it's a small
rehab or light you know heavy rehab full complete gut I do that times the
square footage of the property
Rinse and repeat you just copy with their
Glazed ended up just do
The rest of these I know I
Have not uh, so just like yeah, I don't Thank You Andre but I don't need that service but there's somebody out there who might
It was actually using transactional funding on until he was working on he came once the batch to mine and
just by the way anybody that was in that was watching the mastermind and dejan came on
you spot on the YouTube challenge just to know the deal he was working on day he told you all
Crazy one you get that close just where you all know?
hey slim
Let's see how do you determine and talks to when the house is in area that is being developed
Man it's a pretty question honestly I mean so
like personally
it depends it gets really tricky yeah
Personally what I do is like I like to look at like the as is
right now just case whoever I'm property to isn't gonna tear it place down that's a
Small percentage of people who's actually got a ticket yeah so like first all I'm looking at as is time I'm trying to see
After that I assume the square footage of the property and then I will help me determine
What of development I should be looking into for my after
Development
I'm saying like if the property has like
4,000 square feet I can see where you know maybe the developer can come in and feel like a
2750
Property and making huge it then I'll go look for you know up
2,700 you know where the prawns new development in that area that has
that's kind of its gets its really really
Complicated like the best bet on that is probably just reading off the realtor honestly the anchor it's what they believe
Yeah I think that if if the area is developing
You just might want to spend the money to get an appraiser
So I have an appraiser come out and give you the value the after repair value and
Because like you said it'll be tricky because you're you'll be doing you know back flips and trick to find out what it is yourself
but
So I definitely do get the adds value and
I haven't done it but what I just thought of you could do its with those as is
comps because even though it's being developed I would almost bet
that there is still
cash transactions happening so you can look that up as well so if you find somebody some as is sold comps and
their investors who purchased it
maybe go the extra mile to reach out to them and if they decide that they want to
renovate it and flip it you can ask them what they might price it for and
Maybe that'll just give you an idea of what they're projecting that area would go for now that's not to say that they'll get it
that's not to say you know any of that but it could help but I would just say get an appraiser
That's another nugget
It's all about people this is money that's the only way to make money in this business beginning about people real relationships
That's the great
Let me see
Offer Lincoln heungbu says
Doing this website together guys check out motivated sell them feeds
backward and get you some of these distressed
hormones right away I already know what it is all across the nation
These don't don't don't wait all in the day
So I don't necessarily mentor
Like that but I have a link that I listed
Down below for consultations so I can
start out with a consultation if for whatever reason someone we like
click and I'm like hey I want you to be my mentee or
they
Are a good fit we're a good fit for each other and we can go from there but to get their foot in the door
it'll have to be through that
consultation link that I have below and I can just put it here again
For ease so you know scroll
All right we'll check it I'm taking over this this webinar what's up talk to me
What's going on what do I want to know?
Kidding I'm just gonna wait for him to go back ask questions so I want to get some more questions
where are you guys located
What do you want to know about a hole selling what do you already know about hole selling what can you teach me
what can I teach you
Mayday Mayday Mayday I
Really don't know where he's at or if he's able to come back on but what books have you read to inspire you
Um Polk County what's up I don't know where that's at what city is that
All right so some books oh my goodness guys the very I think the very first
book that I read
pertaining to real estate and just really good in your mind right and everything is called the 10x rule by Grant Cardone I
have it like right here actually the 10x rule by Grant Cardone Rich Dad Poor Dad by Robert Kiyosaki
I've got cash flow quadrant by Robert Kiyosaki as well I have the game and
here's another nugget if you don't have that game cashflow quadrant by
Robert Kiyosaki's Rich Dad Poor Dad brand
you're missing out it's almost Christmas so you should get yourself that gift that game it's like better than monopoly it's better than
2k or whatever other games people play but it's a great game and it's like it was life-changing but so some more books
what else what else what else um
the one thing by Gary Keller
There's just so many there's just so many, oh
yeah those are the other great starts I have a lot of books from bigger pockets
One that literally I think it's like the landlord guide or how to be a landlord and I follow it word for word
with my tenants and my wrinkles because it just helped
so there's a couple of books that I have from bigger pockets and
I
Think that edits back I'm not sure
What was it game again
The game is cashflow quadrant
Game
Cash no? I'm lying it's just called cashflow the book is cashflow quadrant the game is called
cashflow EDA I don't see or hear you
Guzmán how many deals I'm doing per month again you know it's me my mom's so as far as our own wholesale deals it's about
two a month
But that's not including the joint ventures that we do there's also not
Including the property that we just acquire on our own to either sit on like buy and hold or
Whatever we decide to do with that
currently
supposed to close on a land it I think this is my first time purchasing land
So yeah closing on that sometime soon there's like title issues that's holding that up and
Do we also do some hotel deals which is really cool I think that's what we'll do with the land and
Then what about the average deal size I'm not sure what you mean do you mean like the profit
the average profit
or gain I might taking over this thing with us PS
How does lease option work I know you take over the property by paying the mortgage but how do you pay the mortgage is it
your own money
or are you everything other than it was money alright so
Pete with the lease option you're not taking over
somebody's mortgage that's
subject to so when you take over somebody's mortgage that's subject to
So I guess that's two different avenues. I'm about to take you down so when you take over somebody's mortgage
there are steps to
Doing before you even go under contract I think yeah before you get under contract with the homeowner
you need to get a third party
authorization from the person who's
named the mortgage thing
So that way they're authorizing you to speak directly to the mortgage lender that way you can find out pay off
All this kind of information that you need to know because yes you can say hey mr
seller was your mortgage pay off they can tell you any number but you just want to make sure
you know that
for a fact now
So got the third party authorization we pay the mortgage directly to the lender to the mortgage company
And that's what I would recommend I would not recommend that you give the money to the to the
Seller and have them pay the mortgage just don't so again once you're in there you're in there so once you have that third-party
authorization you're you're free to discuss you know pretty much anything with the
with the mortgage company so you pay directly to them and
Yeah what else did you say how do you is it your own money or other people's money so that kind of depends on you
technically
the mortgage that we're paying on this subject to deal is
Other people's money because we're renting out the property so if the mortgage is here RINs here so from rent we paid the mortgage
but when the when the property was vacant and it was vacant for some months it was coming out of our pocket and
then lease option
Completely different lease option you're leasing so you are a renter you're leasing so you're not paying a mortgage you're paying rent
to the
Person you're at least optioning from and you're leasing with the option to purchase so you can either
you know have a lease for a year ten years whatever and
at the end of that lease term you have the option to purchase at a certain price and
Yeah so those are two different avenues
Let's see let's see and I can I haven't seen you since you got back or heard you
those men asked for a hotel are you closing on it before putting on the MLS or
Just when you have the contract or are you partnering with the realtor to list on the MLS so the hotel
I got a video about that
Am, I YouTube you have to close on it
So yes you have to close on it before you put on the MLS because
Unlike with host selling with wholesaling you are not selling a property or selling a contract you're signing a contract?
So if you put on the MLS it has to be your property you have to own it
this is from my own experience I don't know
if I'm wrong
someone correct me but from my own experience you have to close on it because you have to own it in order to put it
On the MLS or sell because now you're selling a property not a contract and I don't partner with any real serious I just
find ones who list it and as per property is not like a contract or anything
Actually I use a flat fee listing service though it's not so it's a little bit less than having to pay
six percent commission
any more questions I have no idea where ed went I
Don't think can you see me can you see me
Yeah so I just put the link to my youtube channel hey guys so if you made it to the end of this video I
Just want to say thank you
for checking out the content guys and being a part of this team if you haven't already go ahead and smack that subscribe button guys
like this video share
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A you know I'm glad that you all are longed for this journey man
I'm glad to be able to provide all of this whole selling contents at you all
if you need any help you know feel free to reach out to me
Down in the comment box down below and you can actually any questions I'm definitely going to be trying to answer all questions that I
get on this video so definitely make sure that you ask any questions that you may have after checking out the video and
until next time guys
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