0:00 Hey we're we're episode we have a special guest Mr. Chad Doherty's of cool they still talk about a cool deal break down and go ahead Mr. Chen She got ready let's hear it 0:12 first off I want to introduce stonking because dogs never go down anyways talk about my first live in flip actually my first VA live in flip VLAN so I bought this house in El Paso as a short sale a short sale so somehow I got it on the cusp I bought it for it was $132,000 on a VA loan through a short sale no it does not ever work out literally can't do that against me. But so I got it for that much and then after after three we live there for just shy of three years I didn't do a lot of work to basically painted it and replace the countertops but that deal we lived in it's a nice area town I put nothing down actually think I collected a little bit money at closing. But a little bit of money at closing my payments were super crazy low because it's VA loan and in Texas we are veterans get a huge tax break on the property taxes. So I was paying like 600 bucks a month to live in this two story four bedroom house that's fully remodeled, fairly remodeled. And super nice area town. And anyway, so we live there for because for it's my homestead so for two years after that there's no capital gains. It's a non taxable event after that. So bought it right before the market went up. market went up kept going up I kept delaying selling it. Got a wholesaler to sell me I found it I found a really good house and it's out of town. It's bigger on the mountain single storey brick house with a pool that we got in the meantime, we sold the other one so remember I bought it for 132 We actually ended up selling and I think I put a total of 35,000 into the house by the end of it because we updated the yards we saw I think for 289 I think so in a pocket away $130,000 Cash tax free that's why I love absolutely love the live in flip. And we're doing again with this one when we just got we got it for 180 And before I even did anything it appraised for 350 and I've done stuff to it now I love to flip it just a complete side hustle where you just kind of make the house you live in nicer and you'd have to get a deal right? But it's it's the ones it's two years it's non taxable. That's the reason people do the burn is so they can get tax free money out but just sell a thing because it's non taxable event when you still burn it but there's no like 3:10 heavy heavy leveraged your VA loan multiple times. 3:14 I have I've used it three times. It's available right now. Let's do it again. I don't know well, he's on the next one. But I haven't available my house right now we refinance into a conventional because it makes sense out of the hard money that the term game that we can do it immediately. 3:33 Everybody that has VA loans leverage that thing as many times as possible, and it's good. It's 3:40 down low interest, but normally you can have super low credit up here. 3:49 Yeah, didn't you buy ranch tunes at the ranch you bought 3:52 no I've sold that ranch I flipped it made like I didn't make as much I told you that that was the biggest deal. That one we made 98 on the ranch but those increases 4:07 and those deal that's why that was your biggest deal on the ranch. 4:11 No The biggest one was that house I don't think again there's been several others that were around it but that was the biggest one right now the biggest one is I don't own the biggest one yet but there's one that I have I'm gonna get owner finance to me hopefully January I think we're supposed to close Medical Center and I'm super 4:36 excited whenever you get that close to bring it back. 4:40 Numbers are insane. Like it's like that's a retirement deal. But yeah, that in the house I'm in right now again the live in flip is that house already has apparently so they say like 190 in equity. So just fucking awesome. That's more that's as much as about For. 5:01 Yeah, and for everybody here, like I said, different levels, your VA loan, whenever you do that the medical building wants to bring it back talk about that deal. Yeah, absolutely. And this is where I think we're if you do bigger deals, bigger payoffs bigger cash flow is just as much work as the small deals. And it's just as more work as small deals, but, 5:23 but you should practice with the small fields. Because if you go in and you fuck up a $700,000 agent doesn't want a potential profit deal. Because you didn't get your reps and I mean, you can mess up a 2000 review, who cares? But, you know, get your reps in, go go to go to the car dealership, practice, practice buying a car, those people spend if you can't afford formal sales training, I'm a big proponent of card on you. But if you can't afford it, go to cars, car dealership, right, buying a car, tell your significant other that you're doing this and to tell you you're an idiot when it comes on buying the car that way you can fully commit in your soul to doing this. Yeah, set some ridiculous parameters and if you can get it take it for another test drive tear to your sniff No, other than they'll tell you no, but you did it and you got to you get to hear you get to hear their sales pitch you get to hear things that you don't like things that you do like and the way I would rate myself because I literally do this is Grant way I read myself is by who what level of person I can get to come talk to me at the table. So if you get the initial guy cool, he probably sucks their manager. Alright, cool. Somebody from finance, come talk to you. That's and that's gonna get the owner to come sit with you. You did a fantastic job and you're you. You're doing good. They don't think that you're full of shit. You know, you're doing a great job negotiating. But anyways, that's that's what I was doing. It's so much fun to just being able to completely commit to that. 7:02 Hopefully this episode, go check us out. Like I said, we do episodes like this. Everyone's around so they're periodically placed out. Thanks for your time. Mr. Chad Doherty and I will send you a hat and a hoodie soon, and Anthony's gonna send you a cup. 7:19 So yes, I appreciate you. Thanks so much. Thanks. 7:23 Thanks, man. Everybody, go check us out. Leave us a review. Go check us out. And we'll see you on the other side next episode like you