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Feb. 21, 2023

Ep 336: How To Do Land Deals With No Money w/ Hivemind Hosted By NoTimeZone | The Wealth Squad

Ep 336: How To Do Land Deals With No Money w/ Hivemind Hosted By NoTimeZone | The Wealth Squad


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0:00 Fellas Hey, what's up, brother man? How you doing? 0:03 I'm busy, busy, busy. How you guys doing? 0:06 Yeah, trying to get like you, 0:09 man. Don't stop, don't stop. 0:12 It doesn't look as fun as it is on TV when you're just trying to hustle. 0:17 I know, right? Man, I'm talking about just need like two or three of me. 0:22 I always say that I was like, I 0:23 can't wait till I have the ability to clone myself things. 0:31 House thing has been out in Texas, 0:32 dude smoking right now, dude, we're going faster than we've ever gotten before. Really? Yeah, it's getting crazy right now. But I think Texas is one of those markets. It's not just going to be affected. I think we're just I keep saying it. I'm I'm on camera. I'm on record saying it. I think we're gonna do the recession, man. I 0:48 think so. Yeah. It's the way how Texas is, man. It's just so open and things are kind of different out there. You know, I think people appreciate that. And then like the costs, you just, you can't you can't really beat it. 1:02 That's what it is. If you look at other markets that are exploding like California and New York, Florida here, we're just massively underpriced. And the cool part is, is there's no limit to the land. I mean, we just got so much download. It's crazy. 1:17 I was gonna ask if we can have this recording after somebody listened to it, and I can download it. 1:23 Ace? Yeah. Um, if you want me to send you the link once it gets uploaded for the 1:32 record. Yeah, as long as I can download it, I'm gonna use it. We're gonna use it for a podcast. Okay. Because last time we did last time, we kind of like frequent kind of like free range that this time we actually had an outline. 1:44 Okay. Yeah, I'm usually about a week. Let's see what's today. So probably this weekend, it needs to be uploaded probably by Saturday, or Monday at the latest and I'll just send it to you once it's uploaded. What's been over to Daniel? 2:04 I'm good, man. It's just been busy man. Literally, updating my home my website today. A lot of random shit. I've been meaning. So 2:13 I've been doing these these for 30 Mornings every day for I'm going coming up on a month now. 2:19 Yay. What are y'all doing for 30? Like the Good morning calls the coffee calls? 2:23 No is 2:24 more. So. I mean, kinda like tracking my days, you know, kind of like how people might journal or you know, set certain times where they do things. I'm kind of like taking that, but I'm doing it with my days. And so it's just really the only time for me to get some good gym time in the morning because I go to the gym in the mornings for like some morning swims and stuff like that. So it's really the only time I can do it. Well, that's crazy. Yeah. 2:50 We need to talk privately to man off off camera so that we can see what like what you guys are up to, and how we could just try to do some overlay. Like wherever we can help however we can provide value would love to work closer 3:00 with you, for sure. For sure. We'll definitely do that segment. Yeah, I think 3:04 we do a little bit of that ourselves, too. I think we're so busy working. Almost you almost forget to have a morning routine, because you're just like trying to grow it and I don't I start trying not to take any meetings until 12. So I'm at the gym at nine. I'm trying to do the family thing when I get back from the gym and then first meeting at 12. And then of course now we're ready to work till midnight. So 3:21 yeah, man, that's sometimes that's just what it takes. You know what I mean? So to get to that next level and the level after that. 3:31 Yeah, grow until it hurts. And then gross. 3:37 We'll go ahead and kick this thing off. I'm sure people will tell. What's up, Chris. How you doing, man? 3:44 I'm doing great, man. I got some good news for you before we get started if you don't mind me sharing. Go ahead. Let's hear I got pre approved today for 350k as 6.75% Man, I think that's good for the market that we're in. Yeah, so excited. I'm looking for a fixer upper right now. So that can convert into a multifamily and get that ball ball rolling. Man I wanted to come in and let you know because I know you've been with me since the beginning. So 4:06 that's what's up man. Congrats, bro. Is that going to be in Florida or what? 4:11 Yeah, it's gonna be here in Tampa. I'm going to house hack for the first couple of years while I can sack up and do it again. But my goal is to find something that's basically a shell and hopefully something under 100 case even if it's a little bit in the country a little bit, renovate it and find a place that's a little bit I'm thinking about looking for something close to we have lagoons out here that people go and visit when they come and travel. So I'm thinking of situating somewhere out there so that way I can short term rental in the meantime, while I stack up again to do it all over again essentially so 4:43 man that's what's up man congrats on that. reached out to me in the discord man along the way. If you ever have questions, you know, you know how I get down. So if you need any help or have any questions on stuff, man, please reach out and keep me updated on your journey. 4:56 No, yes sir. I definitely will. I'll hit you up after our app. Start class today for sure because I definitely have some questions but thank you, man. 5:04 No problem you rest. Alright you guys so we're back again for another real estate class. I got hive mind on with us for round two let's see I got hive mind on with us we got Daniel and Anthony back. If you guys miss the last class that that they put on for us, I really highly recommend after this class is over that you guys go back into the university section and check it out. They dropped a lot of gems, a lot of knowledge, a lot of information. I took a lot out of it. I love it. I know the members took a lot out of it because some people reached out to me afterwards. And I believe that a few people connect with you guys after that class, I believe so. You guys had a few. So I'm gonna let those guys go ahead hop on. Let them introduce reintroduce themselves again, let you know what they're about. And then you guys can go ahead and dive right into it. So let's, without further ado, you guys go ahead. 6:02 Yeah, I'll go first Anthony. I'm Dave Martinez. I am co CEO of hive mind, I kind of run the software side Anthony runs the real estate side, we kind of do like a co branding business that does a lot of cool things, which we kind of touched on a little different things for Brazil. Now. I used to be a truck driver about four or five years ago, and used to be a forklift operator loaded trucks. And started my own trucking company operated for two years, and the gross selling founder of the cane revenue, ended up pivoting from that into real estate in software. And I met Anthony right at around that time. And we've been partners ever since. So it's kind of like my story, if you want to kind of give yours. 6:41 Yep. Hey, what's up everybody, man, thank you. And big shout out to wealth squad. Man, we're big. We're big world squad fan. So you're in the right room, I think business is about being like in proximity to people that are doing big things. So just connecting with people like acnm in the world squad, like you guys are definitely in the right room. I have a construction background, and I have a 15 year marketing background, I accidentally got into real estate, just from doing marketing, I was going to build a family house for myself. So I was looking for land. And combining that with marketing, we've realized, like we found a way to position ourselves, I would say it's probably the best positioning that you can do in real estate, you know, and we say some of the things we say and like, I just wish that you knew us personally so that you can know that we come from a place of humility, not capital, not arrogance. But I want to teach you guys today how to leverage a billion dollars worth of loans at 0% interest, piece by piece, right? What's What's the biggest way to eat an elephant in very, very small increments. So that's what we're going to talk today about. We are real estate investors will look at any type of asset. But we found a way to leverage land, I would say probably, probably more powerfully than anybody else I've ever heard before in the real estate space. And again, like I said, that comes from a place of complete humility, because we're so brand new that we're just like, we're still kind of in that honeymoon phase where we're just appreciative for where we are and, and the connections we've made and the types of deals that we have done before and also that we're working on. So I think anybody on this call is going to learn something today, you've never heard this information anywhere else before. And you can probably bless a lot of people, your friends and family with this information, it's going to take your investing career in your real estate career. Even if you're not in real estate yet, you're going to learn it at the very highest level today, we want to talk about our main focus is land, right. And even if you're in self storage, if you're in apartments, if you're in house flipping or no matter what you're doing, this is only going to accelerate what you're up to. And it's also the fastest way I've ever seen to grab cash in real estate, and to leverage high dollar assets, you know, with almost nothing out of pocket. So just one deal right now I'm about to lock up tomorrow. I'm buying a million dollar lot for 600,000. And I'm going to put $5,000 down, nobody's going to check my credit, nobody's going to ask me for proof of funds. And it's a very, very straightforward deal. I'm leveraging a million dollar lot at six for $600,000 $5,000 down at 0% interest. Okay, and this is not our strongest deal. This is just like a run of the mill of deal that we're doing. So again, I think because business and real estate is all about positioning, it's about leverage, right leveraging not only other people's capital, right OPM, but also leveraging opp other people's property right? If you're old school like me I'm 41 years old, you're down with opp probably 9:29 talking about like like seller financing like what is like the basics of seller financing, seller financing, what does it mean? And how what's like the back end leverage you get from that? 9:39 Yeah, okay, so so that's what we're gonna cover today we talk entitled today's talk, three ways to get land for free. Okay, and these are not $10,000 infill lots. These are million dollar lots. Right. So how many million dollar blocks do you have to leverage before you hit a beat? Right and also if you can leverage them with very little to nothing out of pocket Again, it's gonna put you in a pretty, pretty strong position. So where did you want to start on the seller? Finance? What do you want to start? 10:06 What is seller? Financing? I guess is the first question. 10:09 Okay, so seller finance means where you ask the person that owns the property to bankroll the deal for you. So if you're already in real estate, if you're already investing, if you're buying businesses, you are finding people that that can lend you money, right. So somebody messaged mentioned right now before this call, that they're borrowing 300 plus $1,000, at 6% interest, which is for private capital in today's market, that's freaking amazing. That's a homerun and a half. What we're doing, we're also doing that we're also leveraging other people's money. But what we're doing is we're asking property owners to be our bank, right, and your property owner is not going to check your credit. They don't care what your debt to income ratio is, all of that goes out the window when you're working with seller finance. So you're looking for people that own properties that own assets that they either can't move that they're asking too much money for, or that they're just like, in just some kind of like, awkward mid stage where there's too many heirs, there's something has happened in their life where they can't just grab this property, throw it on the open market, and then make all of that cash back. So it's a very unique situation. And then you tell you ask you tell yourself, well, yeah, but what are the odds of that happening? But every single real estate deal was like that every single investment is like that, right? Even if you're investing in the stock market, even if you're investing in, like private capital, if you're if you're lending money, if you're looking for apartment complexes or self storage, are you looking for the right crypto to buy, we just recently dropped 30 grand on an NFT project that's already like 2.5. Next, so we understand other asset classes. But if you're looking for these, like once in a lifetime, unique opportunities in any investing space, then it's like they're always hard to find. Right? So but what are you paying attention to. So within the last, I would say 90 days, 120 days, we focus our efforts into land deals that are valued at a million dollars and up. So if it's under a million dollars, we'll look at it as long as there's $100,000 profit potential on the deal. Before we get involved in it, we just closed one yesterday, but we actually we closed it last week. But we cashed out today to $80,000 profit deal on two acres south of San Antonio, we never saw the property, we never went to the property, we never visited the property. And that's the land game. Again, those deals are not few and far between. That's just like a run of the mill average deal that we're looking for. 12:21 I do want to mention, too, one thing cool about seller financing is that you can 40% Of all the property in United States is owned free and clear. Its own free and clear. There's no debt on them. Either it's passed down inherited, that paid off the mortgage, there's no debt on them. So imagine, and what he mentioned early on was leveraging a billion dollars is that if it's free and clear, they can be the bank and you can get a free loan on that without having your credit pulled. So imagine thinking thinking instead of thinking I was properly thinking as a as a as a, as a loan, that you can do whatever you want with it. 12:53 So yeah, so So one of our next videos we're about to make is called the power of leverage. Right. And you everybody that was around a be loosely right now and they're like, hey, yeah, billion Yes, billion that and people have no, no way to, like no reference point between 1 million and $1 billion. It's a huge difference. What's the seconds on that? Daniel? 1 million 13:12 seconds is 11 years. I think it was 11 years, right? Or 11 weeks? I figured it was. You remember the first part was? 13:21 I don't know that. That's what I was asking. You're the numbers, man. 13:24 I forget. Okay. So Leben 11. And you can for everybody listen to this later on. It's one nine seconds is like 1111 days or something like that a little bit of weeks is probably going up. And 1 billion seconds is 30. It's like 33 and a half years, or 32 and a half years. So between 1 million and 1 billion is a huge, huge number. 13:46 What is the Anthony? 1 million seconds is 11 and a half days 13:50 11 and a half days there you'll see. So billion and a billion is a huge, huge astronomical number of Lebanon app days to 33 and a half years. It's huge difference. So we want to quantify, like what that looks like in everyday dollars just to understand what it what it means and what it tangibly is. 14:09 Okay, so now let's do some like some unbelievable math, right? We've locked up about $10 million in the last 90 days, and we have at least another 10 million in the pipeline. Right? So if that if that scales, I don't know that it's going to scale, right. So we don't want to be up your captain. But if that did scale, you're looking at, you know, locking up $10 million every 90 days, it's not going to take that long to get to $100 million, right? Just locked up stuff that's ready to move. And if you can 10x that is we're not that far away from from locking up a b and that only happens in large scale land business. Right now. There's one day we're looking at, it's 9 million. We're looking at another deal by north of Dallas. That's 16 million. Right? So again, we're like we're not trying to throw around crazy numbers just to sound impressive or to cat but it's just like, it's just simple math. Right? And we haven't got there yet, but we're definitely on the way. I think what we're doing anybody can learn. It's not that complicated. And also there's not that many hurdles like you think, Well, this sounds like it's very complex. It sounds like there's a lot of things to look at and ponder here. But it's actually very, very, very easy. So we want to talk today again, about we titled the talk, three ways to get land for free. And then we'll break that down. We like to do these better, like in a conversational manner. So instead of it being like a lecture, like where everybody's just listening for an hour, if you do have questions, if you raise your hand, if you post your questions in the chat, it this conversation tends to flow better if you're asking questions as we go along. So how in the heck can you get land for free? 15:32 Um, you asked for it? Yeah, so 15:38 just by, like, strategically setting up the deal, right? Again, like we're about to leverage, the lady wanted a million dollars her her daughter, I drove out there, I checked it out. She was like, Can you pick me up and was like, Oh, my God pick you up? Okay, cool, whatever, like, because I already knew was like an hour drive. So we're gonna sit in the car now for two hours, and I have to make small talk. So we're driving out to the property. And she just kind of told me what's going on learned a lot about the property on the way out there, we checked it out. We settled on a sales price of $600,000. And we're gonna give her 500,000 I mean, sorry, $5,000. Down tomorrow, right? So that's I put $5,000 down, that's not exactly free, right. So like, what exactly are we talking about here? When you get something on seller finance, you can always wrap it, right. And then with these big land deals, the sellers know that this is not going to close in 10 days, or 15 days, or 20 days or 30 days, it's just not going to happen. A lot of this stuff, we lock it up for 90 days, 180 days a year, I have one that I've been working on for three years. So we've been locked up for three years on this land deal here in San Antonio on Southington road. So just for like the smallest scale example, I'm going to give you guys just like the numbers are like digestible. And then you can think about it like in larger deals, it continues to scale without you having to have a larger down payment or larger skill set, or any capital partners. So I did a deal here in it's called Orange Grove, Texas, it's about maybe an hour and a half south of San Antonio, we have another big deal. We're working there, too. I can tell you guys that about that in a second if somebody reminds me, but I had a guy who had five acres, and he wanted $8,000. First he started asking like 40, we talked about it. He goes with me for about 90 days calls me back, and we went ahead and settled on $8,000 for five acres. I sold that property for $8,000 downpayment and $500. a month for five years. Right? So if you bought a house that's worth, like, let's say 75 100, rehabbed it, rented it out, right, did the birth strategy, and then you started to rent that house out to pay your mortgage. I mean, you did a hell of a job. If you can make $500 Right on a birth strategy, like clear, free and clear profit, we did that on a very, very small land deal with zero out of pocket, right on $8,000. So if you think about it, in the land world, things are moved very differently than houses because the sellers can't quantify the value, right? With a house, you can say, hey, yeah, it's 1000 square foot house, a 1500 square foot house, I can rent it out for 2000 a month. So I already know what my house is worth. But with land, it kind of doesn't apply that way. So that's how we're able to get properties on seller finance, you take the property, and then you sell or finance it to somebody else on rap. And what we're looking for, like the golden goose is, is where you have somebody that's willing to put a down payment as the full purchase price of what you picked up before. Okay? And then you're like, Well, you know, how often is that going to come along. And again, it's no easier than finding a flip house, that is going to require a full rehab, that's going to be profitable, where you can either sell at a profit, or hang on to it, create cash flow and then burn out of it. It's no harder than finding a sub two house where somebody lets you take over the mortgage, it's no harder than finding an apartment complex, right? Where you can remodel. And then you can pull out your cash out that way, right and three to seven years on some of these apartment complexes. So it's exactly the same thing. But again, it just scales differently in the land business. 18:56 So I kinda want to talk about like, what's a real deal strategy that you did that kind of we kind of worked on that process that a little bit with the house because we we've done this with houses too. 19:10 I'm trying to figure out which one is going to be like one of the best like juiciest deals that we've done so far. So we've talked about the little ones that you can get it with 8000 What have we done lately to juice your than that? Okay, let's 19:20 talk about the dealership. dealership, one. Okay, 19:24 that one's ridiculous. Okay, so there's a property I can give you the address to if you guys want to look it up. Because we mean Daniel talk on stage or we talk in front of groups. It's like, Man, this is some serious cap like it doesn't make no sense. Like nobody could just do this. I got a property it's at 13 509 South i 35 frontage road in San Antonio, Texas. 78073. It's a commercial property. It's point five, eight acres. I got that property by it's somebody gave me a house. It was a sub two House So this is a 3000 square foot house. And it has all wood floors, granite countertops, and I got that house sub two, I asked the girl said, Hey, can I get? Does everybody in here know what sub two means? Okay, if you don't know what sub two means, can you put a one in the chat for us just so we can kind of gauge the room? I've never heard the word sub to I don't know what that means. It's not helping me. 20:24 Okay, yeah, we're gonna cover it. 20:27 Okay. sub two means that you buy a house that's subject to the existing mortgage, right? So somebody has a mortgage on a house, they can't, they can no longer pay it. And now, you come in there. And instead of you buying the house outright with your own cash, or going out and getting your own loan, you buy the house directly from the seller subject to the existing mortgage. Okay, so that means that the mortgage stays in place, it stays in the original seller's name, but you take title and deed to the property now. So now I'm the rightful legal owner, if the owner tries to take me to court, they'd have to sue me for the house back, which is, you know, that's a slim shot. But it means that if the person has a mortgage loan with with, you know, Capital One, finance or whatever, then we take over the mortgage, we continue to make the payments in the sellers name, but now we're the legal owner of the 21:20 property. So I have I have a special assignment for everybody here if you're listening to this later on, or you want to because I later, go to Zillow, when you visit when you go to Zillow, there's a search requirement, you can search for keywords. Now, the hack in this is to look for assumable assumable loans. This is kind of like sub two, but they're assumable. There are sellers out there selling their property with an assumable loan, whether it's a whether it's a VA loan, or some other type of loan, where they're they're essentially going to pass on the responsibility to that new buyer with a loan stay in place. So you can go to Zillow, look for the Keywords section, look up assumable and look in the state of California, look into your favorite state and see what how many properties are there suitable. Those are properties that the seller is trying to sell with a loan stay in place. 22:07 If anybody in here was paying attention to that, you might want to hit rewind or watch this conversation again, that's a freakin gem. So you're going through these large databases, right? And real estate moving into the future is not about how much capital you can raise. It's not about how many conversations you can answer like this one. It's snowing information. It's snowing data. Right. So Daniel just gave you guys a way to go back look at the data of Zillow, and then finding somebody that has already used the keyword assumable or seller finance and their search terms, then you can go to any state right, there's 50 of them. You can go to any state and find people that are willing to let you take over the payments on their property. And what is that that's leverage, right? If you can go in there. Like I said, we're about to leverage a million dollar lot for 5000 bucks. So if you can go to these large database websites, and you can use those search terms. That's crazy, guys. That's better than then texting sellers calling sellers. That's better than watching charts all day. I mean, that's a mad Jim. So one one Vallis asked. 23:09 Sorry, so that may be too big of a gem. 23:11 That's a freaking gem dude. Yeah, we've been doing this for four years. And marketing is tough, it's expensive, you get your teeth kicked in. But if you can go direct to the sellers that are willing to let you take over their property. That's crazy. One Gonzales asked the question we have is What are you guys looking to get from the weld squad? And how can we help you help us already answer 23:29 that question, go to the bottom. Somebody asks, why why would they? Why would they? Why would an owner do a sub two? Let's go on to that deal. 23:37 Let me come back to this real quick. Let me let me answer one real quick with my own spin on it. So the reason we like to give talks like this in front of people is because we designed hive mind, right to be a marketing engine. All it is is a marketing engine. It's a it's a CRM, but it's also a marketing engine. Because we look for deals like this, like I said, like they're not very easy to find, right? If if you find an apartment complex, and you've let the other assets that we've talked about, they're very difficult to find. But you'll you will find that if you're in on Facebook, or Instagram or anywhere else, it's a public forum and you say, Hey, I'm looking for 100 acres in Texas or 1000 acres in Texas, you stand out like a sore thumb. Alright, so if you're just starting to have those conversations, and you do happen to find, hey, this guy called me he has 8000 acres south of San Antonio, we want to know about it. We want to help you, we will find the funding will help you negotiate it will go out and actually walk the property. There's a lot of things that we have in place that we will do for you if you come across those types of assets. So like I said, if you're out there saying, Hey, I'm looking for a flip house that has that's 60 or 70 cents on the dollar, everybody's looking for that, right and that kind of gets lost in the weeds. But if you're out there saying, Hey, I'm looking for 200 acres, right? By Austin, Dallas or San Antonio or Houston, you're going to stand out like a sore thumb. People are going to ask you Hey, what are you doing? Hey, I have something. Can I talk to you? I talked to a guy today who hit me up on Facebook. He has 500 acres in the pipe Blind. So the main thing is, is, like I said, it's just a way for you to learn a way for you to so game, if you come across a land deal and you're staring at it, like, I don't know what the heck to do, hit us up, and we'll be glad to help you and walk you through those deals. So somebody asked, Why would an owner do sub to method, there's a lot of reasons. So the one that I picked up that 3000 square feet that I traded for that dealership on i 35, she just needed to get out of the mortgage, she was only one payment late, but she had already separated from her husband. She's there with four kids that are in like middle school and high school. So she's like, I'm not exactly losing the house, but I already know I'm gonna lose it things are about to get worse from here on out. So she said, Look, I'm gonna she's she told me this is a sister, a friend that my sister went to school with. She's like our see you guys are doing real estate. She said, I'm either going to do two things I'm going to give the house to the bank, or I'm going to give the house to you. That was it. That's exactly what she said. So I said, Look, I said, Thank you. Cool. Yes, we'll take it. Let me give you $5,000, at least for your trouble. And she said, I don't want your $5,000 I just don't want you to pay my mortgage late. Can you do that? Done. So we took that property that we got for free, and we traded it for a commercial property on i 35, south of San Antonio, that's worth half a million dollars. So that's those are the types of deals that's kind of just one scenario, why the seller is willing to give up the mortgage. What does the ex owner walk away with in a sub to do it really depends, you know, like I said, sometimes they just want relief. So 26:28 I say this a lot too is where most people think a house is a blessing, that's 30 years of time, they have to hold it where it can't be an anchor. Because sometimes house a certain the anchors to where they might lose her job COVID hit a moratorium hit like they might have they might have tenants and they're not paying rent, there's a lot of things that can happen in 30 years that could make the deal go wrong. So whenever we do subject to it's relieving the pain, it's they don't get a free, they don't get a foreclosure on the record, which can affect them from buying a house for next seven to 10 years. And we take over payments, so it actually benefits, we make payments on their behalf, which helps you helps their credit in the long run. So I was talking to my mother, my family mother, family member, and they lost their house to foreclosure a couple years ago. And I was telling them that we could have helped them like knowing what I know now and I was a baby back then back when they went through it, knowing what I know, now we could help them prevent them from going to foreclosure because they couldn't buy a house for 10 years. And that's a long time to wait to buy a house. So knowing the strategy, hey, if you've had a foreclosure, this is opportunity to buy a house without applying for credit without applying for financing. This is a way to acquire house. So we're gonna kind of cover that a little bit later on in the claw. But that's kind of we're looking for people that are stuck in the situation where they don't have any other options, but relieve the pain of seller finance. Like right now what's happening with the high interest rates, as interest rates go down, as rates go up, the price value goes down. So people just bought houses, they have no equity in those houses. So whether they're moving, they need to sell or relocation, they need a booth sell that house, and they have no equity. So now they have to bring money to the table. So that house, and this is where we come in. There's properties listed on the market right now there are 120 days that the seller has to move, and they can't afford to bring money to pay the agent off. So all I have to do is contact that one person and you can get a deal on that. 28:19 Check this out now. So now somebody's asking about how does this work with agents, right, and you just mentioned properties that are on market. So if anybody's not looking 63 acres for 800 ga market for one year, if it's been on the market for years, probably massively overpriced, but we're happy to pay full price for properties or even over asking price, if they're willing to finance it to us for 30 years and we can talk about that in a few minutes as well. So check this out. This property was listed. Somebody my office brought me this deal they said hey, this person wants to sell and they said it's listed for $750,000 here in the south side of San Antonio by downtown. I'm like Nah, just move on to the next deal. And they said wait a minute, they said they just need to get out of the mortgage. Right? So if you're asking why would somebody possibly let you take over the mortgage check this out. Because this house, you can go to a if anybody's on the computer on your phone, type in 318 Jennings je n n i n g s in San Antonio 318 je n n i n g s this wasn't listed property check this out. If you can just look at your screen real quick. If you're not on your phone if you don't want to look up the listing yourself. This is on But look at this thing. 5050 square feet by downtown San Antonio downtown is exploding. Wraparound porches that's the living room right there. 100 inch TV in the living room for no reason. It was all fully furnished chandeliers in every single room for chandeliers in the living room. That table right there's probably I don't know 15 feet long or bigger. With like nice Victorian furniture. We got that house subject to they let us take over the mortgage because if you bought, they remodeled it, they put $200,000 into the house, and they didn't have enough to pay the mortgage. After they spent all the money remodeling it, they thought it was gonna sell in a heartbeat. And it didn't sell. So yes, you can acquire VA loans this way. So I went and checked out the property the very next day after that seller talked to us, we ended up getting it for $10,000 out of pocket. So a seventh house that was listed on the open market with a real estate agent. They gave us the keys of the house for $10,000 Down, Right? Why would somebody do that? Because they remodeled it for $200,000. And they couldn't carry it anymore. We have a two year balloon on the house. And we're all we're doing is we're responsible for PTI, payments, insurance, taxes, and interest is all we're paying on that house, which is roughly about $2,400 a month. We have two years to pay it off. So that's the game. Yes, it's for it's less. It's for 440 on Zillow, but if you look up the old listing, it was listed for $750,000. So a hell of a deal. 5050 square foot house, we picked it up for 10 grand. Let me see, we can go back to I appreciate the questions too. Guys, these are great questions. This helps us break down further what we're doing. 31:10 Somebody asked Walter, so how did you try to a commercial property? And what does that mean? 31:16 Okay, so on that property? Yep. So I had a lady that we contacted south of San Antonio, I was looking to open up a car dealership, or some sort of dealership, I wanted a public, you know, property that I could sell things on. Equipment, RVs, that kind of stuff. And my wife and myself drove by the property, man, it's had to be 2019. And we were it was Valentine's Day. So we're supposed to go to the movies or dinner or something like that. I'm like, Look, do you want to go out? Or do you want to go find some commercial properties and like, just go find property. So. So we ended up driving up and down I 1414 and 35, south of San Antonio looking for stuff. We found this property. We contacted the lady. She said, Yes, I'll sell it. Yes, I'll work with you. Yes, I'll seller finance it. All those things. So we went and toured the property with the lady. She said, I want $330,000. I asked her, you know, of course, we're friends. Now we're talking on the phone all the time. I said, Yes, we want to get the deal done property needed a ton of work. And I said, Hey, what are you gonna do with that money when you get that money? So here's the gem right here. Hope I hope everybody remembers this, write it down and paste it on your keyboard, something, we always ask the seller what they plan to do with the money? Because you're going to be surprised what you uncover this like that's like, probably the single most important question you can ask to any property seller is what are you going to do with the money when you sell this property? So I asked the lady that and she said, I'm going to pay off a house that I can live in cash for myself, because I'm living at my sister's house, I'm going to pay off a house cash, and I'm gonna live off the rest of it. So I had recently got this this property from my sister's friend. And we took it over sub two. And I just showed her the picture is the same way I showed you guys. And she said, Is that for me? And I was like, I don't know, maybe you'll like it. Maybe you won't. So we drove out to the property with the seller, she checked it out. She absolutely loved it. She said yes. What do I have to do to get this property? And I said, Look, why don't you give me your property. And I said, and then this house, I said, there's a mortgage on it right to go for the mortgage on this house. I said, I'll give you the case of this house you live here. I'll pay the mortgage on it, if you give me your property. So we did a property swap. And now I'm paying the mortgage on that house while I get this half million dollar property for free for a house that I that I got for free for 200. So like a $230,000 house. It's appreciated $100,000 Since the market exploded, but easily the value of my property is probably somewhere between five and 700. And like I said, it's just an even property swap. When I give her free and clear title to the house, I get free and clear title to the commercial property. But for right now I'm paying an even $2,000 a month that includes payments, insurance, taxes and interest. 33:45 So alright, so that's the that's the whole story for that one. So you traded a free house for a commercial property for free. 33:51 They asked Is it possible to buy these properties when you don't have any money for the downpayment as well with that process? Like? Yes. So again, I got the sub two house, I gave her zero I offered her 5000. She said no. So if you don't have any money for the downpayment, right, then well, then what about the monthly payment? What about the $2,000 a month, easily that house could rent for or sale as a seller finance for 2500 to $3,000 a month. So you will be in it for zero down and then somebody else is paying your payments. So here's for instance, the commercial property right now I haven't leased out for 2950. After one year, the guy's payment goes up to 3500 his rent, while my PI Ti is 2000. So in like 30 days or 60 days or less, that property will be cash flowing $1,500 a month and he's the one that's paying my mortgage for the house that I got for free. 34:47 Um, how do you deal with realtor objections? 34:51 Yeah, so like I said, so this property was listed with a realtor and I told the girl I said, Look, I understand that you listed with a realtor, we have to give her some cash. Tell her that she's still going to get whatever her her commission was, so for her selling the house, you still gonna get the same commission. But once she found out what we were doing, and we're going to take over the mortgage and do all this other stuff, she said, Look, I don't want the money, she said, I want you to give me the amount of time that I had left to sell the property. So the realtor was pretty confident that she was going to be able to sell the property before we can close on it. So I think she still had like three weeks left in her contract, or 30 days. And the seller even called me back, she was like, hey, the realtor said she still wants to stick with the contract that we signed. And she wants me to be able to give her all the time that she asked for to be able to sell the property. She doesn't want any money at all. Great. Sounds amazing. Give her all the time she needs I'm in no hurry. I'm not trying to knock anybody out of the deal. I'm not trying to take food off of anybody's plate. And yeah, she like after her two or three weeks elapsed, whatever it was 30 days, the Roadster walked away with zero and we still close the deal. But my main thing is, if there's a realtor involved, pay them. That's the easiest way to go after because we're actually going to cover that in today's call as well. It's going after on market properties, pay the agent exactly what they had coming anyway, you have it in the spread. We're about to sign up tomorrow at a property where we're going to have $400,000 plus an equity. Like, yeah, I'll pay the agent, whatever they want. Sounds amazing. And the agent or the agent wants to do is get done, we probably won't have time to cover it today. I don't know if we're gonna get invited back. But if we do, I'll cover next time, because we're all looking for motivated sellers if you're in real estate, next time, we're going to cover how to find motivated real estate agents, and how that ties to the business. So we always want the real estate agent to get paid whatever they have coming. We don't want anybody to lose or get caught up cut out of any deal. That's not what this is about. 36:30 Can I cover my rap story? I got a rap story. Yep. So I bought a house in Georgia. I'm originally from Atlanta. I'm originally from Chicago, but I went to Atlanta. So I bought a house when I was living in Atlanta for like my second year there. So this is my house that I bought, I bought it for 205 in South South Atlanta, right? When I was gonna move right before COVID, hit right, like right end of 20 2018, early 2020. It was right around that strike when COVID hit was coded February of 2020. So I was moving out of I was moving out of Georgia. And I didn't want to sell the agent because if I sell my property right then and there, I can only get whatever my spread is on my mortgage. And plus, but plus the agent costs and closing costs. I was willing to walk away with like five grand, and I'm like, Man, I just learned about real estate. So I'm like, Okay, I have to there's a better opportunity with this transaction. So it's kind of like subject to but I use my own mortgage, I subject to my own mortgage, because what I did, so we talked about rapids rewrapping that for another buyer. There's a lot of tenant, nine employees, entrepreneurs, even real estate agents that are really good agents, they have high income, but they can't get a mortgage because they don't have isn't showing their taxes. I'm sure ace qualifies for this. And like all these entrepreneurs, they cannot get a mortgage they can't. So I knew that coming into this, I'm like, Okay, I have a mortgage. Yes, it's not subject to but I mean, I can leverage my mortgage, why not? If I sell this on the market with Mr. Asia, I'm only gonna get five to 10 grand. Let's just see what I can make with this. So I put my deal on marketplace. And this is before the COVID big boost of housing prices went up. So I'm like, okay, my house is probably worth about 230. Let me see if I can sell this thing for 260 with $30,000 down and then cashflow this deal instead of getting a renter because I don't want to I don't want to rent here because right now I live in California and I moved from Atlanta to California. I don't want to manage a rental to 2300 miles away. That sounds like a nightmare. So what I did was, is I put on marketplace and all these agents come on, you want to list your property? Well, it's probably not all of my property. I'm good. So I found I found a entrepreneur tenant and I'm a buyer with I put on marketplace that I was asking for $15,000 down. And people when you ask for higher than you want people are like Oh, I got to teen I got 20 I got 25 and I my sweet spot in my head was 30 somebody we asked for 50 and then they can they can bite down at 30. So I had a guy come in he's like, I have $30,000 down was his deal. The dude already owned a house in Florida. And he just couldn't apply. He couldn't afford to get another house based off his income because he was entrepreneur was a tenant and employee. So I ended up giving them the deal. $30,000 down, I cashflow 500 a month for three years. And now his payments come up. So either refinance or restructure loan again, where if he pays me out again, since he's been paying my mortgage for three years, and I've been making 500 I got $30,000 down, I got 500 a month for three years. And then if he comes through the deal and gets his own financing, I'll make 70 grand on the back end. So deal well in a five to 10 grand, I pocketed 30 upfront payment a month for three years and I'll make 70 on the back end. And that's a deal that had no equity and that was my deal that I sub to myself to another end buyer 40:02 If I don't know if we're gonna, we'll probably run out of time based on how things are flowing right now. But I can tell you about a similar deal that Daniel did like that that we're working on right now, where we're planning on making 1.7 to 2.2 ish million on that deal, exact same scenario. And then I want to hit a couple more questions out of the chat. And then we have just a couple more topics we wanted to cover. Making MLS offers how to find off market land, because somebody in the questions asked, how do we find these types of deals? It's for me, and then how to talk to sellers to ask for seller finance. So if we run out of time, somebody just grabbed that stage cane and just yank us off, and then we'll try again another day. I'm gonna go back and check out some of these questions somebody asked on the on the sub to do, it might be a dumb question. But do they move out? Yeah, for the most part, we don't want to refer back to somebody that could not already pay the mortgage. So we'd like to take these properties empty so that we can clean them up and repackage them on the back end. How do we look for folks that are looking to get out of their loan is this a pre foreclosure not necessarily doesn't have to be foreclosed pre foreclosure. This could even be on market deals. Right? This can be stuff that's already listed stuff has been listed for a long time. So I would look for properties that are either expired listings, and then making MLS offers you would go you would start with the properties that have been listed for the longest amount of time, and then work your way backwards. So first, it goes expired, start there, start with all the expired listings, you can find, you might need to make friends with an agent or broker to find those, and then find the properties have been listed for a year and a half and start with those and then start working your way all the way down to properties that were just recently listed. For making MLS offers, we offer a 50 to 60 cents on the dollar of the listed sales price. And if that sounds outrageous to a lot of people will imagine that they have their profit in there, they have holding costs in there, you have your agent and closing costs in there, which is roughly about 10%. So if you offer you say, hey, look, I'll give you guys 50 to 60 cents on the dollar. Or we'll do seller finance, where you guys be the bank and then we'll take over the loan, or we'll buy the property from you spread out over 20 to 30 years. And that's that's a whole class in of itself. We can talk about that. Like I said maybe next time. 42:12 So the whole point of that is incredibly, incredibly low with a cash sale. Literally we we want them to take seller financing, because just like we said in the beginning, every property we sell or finance is a free loan that we'd have to apply for. 42:25 Yep. So we talked about that. Right? How can you leverage everything's about leverage? How do you leverage a billion dollars at 0% interest, exactly the way that we're doing with land, so that that property that was worth a million that we got for 600,000? We're getting that for 0% interest? So do you want to cover real quick Daniel, like how to buy a million dollar property and then sell it for a million buy for 1 million sell for 1 million and then the cash flow that you could spread with that by manipulating the interest 42:56 that's another I think kind of covered at the first call. So if you've kind of missed that one, go and watch the first call for answers Walters question here. It's good question. 43:05 Okay. Your media covered, you're going to cover Yeah, go ahead, go. Bankrupt, do you have insurance that would cover to pay off their mortgage? If I mean, so there's quite a few things you could do here. If you're going bankrupt, right, you can resell that house on a rap. So let's say I'm responsible right now for the big house to 5000 square foot house. I'm responsible for like 2400 a month. If we're if we're we know we're going bankrupt 90 days from now, you know, we're gonna have to tap out, then I would just liquidate and sell that to another end buyer say, hey, Allah, give me $50,000 $100,000 The house is yours. Or again, I could find somebody and say, hey, look, I'll sell you this house for a million I want 3000 A month. Now I'm only cash flowing 600 a month. So pretty easy to get out of it. If you're going bankrupt if you need to liquidate. You can liquidate on the rap. You can liquidate for a wholesale fee, there's a lot of things you can do to just get out of it if you're in big trouble. 43:58 And this is where like having friends with money because you can always rely on with private capital to yeah, there's a 44:05 million ways to get out of these loans. And then worst worst worst case, if like, hey, the seller is my best friend now because we've been friends for three years, and I don't want to hurt their credit. I'm just gonna give you the house back. Right? Or you can create a joint LLC where they own an LLC, you own an LLC, put it in a trust or something and say, Look, I'm gonna help you sell the property and we give you back all your money and then some, right? So there's a million things you could do to get out of this. Our game goes, we don't want to carry too much headache, too much stress, too much leverage, because we're not planning on going bankrupt, right. And this happens, it happened in 2008. When somebody is just carrying way too much debt and they're they're so much into the red that if one thing comes out, then the whole house of cards comes down. And that's not the game that we're playing. We're playing with little to no leverage at all. So very, very proud of one property might be able to implode like that, but no chance in hell of all of that stuff imploding on at the same time, because we're playing with as much defense as possible, because at worst case, we could give the property back To help the seller sell it, there's a million ways to get out of it because we're definitely not over leveraged, we're actually like zero leverage. Actually, here's what we're doing. Because the seller is the bank. We're not to bow down to Wells Fargo Chase, you know, not Farm Credit, nobody. The seller is the bank. So we can always tell them, hey, in 90 days, I'm gonna have $0 Do you want your property back or you want me to help you sell it, which turned 45:19 to I kinda want to cover like the mindset of seller financing, because the mindset of seller financing is this analogy we can use with sellers and maybe even realtor sometimes, too, is that if we can give them their pricing, we can sell it, they can sell it forever pricing price point they want, because the price point doesn't matter if we get our terms. Because, for instance, the guy that did he had was a 365 or 350. On the beginning of the call. What was it? That 350 $1,000 mortgage? It was a 365? A six and a half? All Yeah, he borrowed like 350,000 at six point some seven, five. All right, so I'm gonna do the debt service on them. I'm doing the math on this, so y'all can hang with me. Six and a half. So the debt service on a three on a 30 year loan, six and a half at 30,000 Is 2200 a month. That's PI payment and interest. Right? Oh, you put her there, Christina. Thanks, Chris. For so so that's 2200 a month. So what can you do with 2200 a 46:23 month? Yeah, I got I got a good one. Yeah, go ahead. Okay, so we're buying it here. Let me get the addresses too, because a lot of this sounds like bullshit. Like these guys are lying. There's no way this could be happening. So if you Google or look up 108014 Ih, 37, north, Pleasanton, Texas, Pl E A, S, a n, t o n, Texas 78064. This is a listed property. 46:57 It's on market. If you look that up, 47:02 it's listed for 450,000. We're getting it for 350,000. I'm putting $50,000 I have a private seller that's bringing in 300,000. We're selling those tracks those 10 acre tracts for 199,000 with 10% down. Okay. So let me see, I'm getting it for roughly 6000 an acre, right. 350 divided by 54 6480. And acre, we are selling it for 199,000 times five tracks, roughly about a million dollars minus 350,000 that we're getting it for, then you said getting 350 675. So we're going to have $645,000. That's not profit. That's amortized over 30 years. So we're selling it on on a rap. So I'm just going to do the amortization calculator. Give me a few minutes, please. I appreciate you guys staying on here too. There's no this is like a lot of information to take in. But I think it's worth it. It's if you learn the information that we're teaching, it's like, This is crazy. This is life changing information. Like I'm trying to teach this to like my friend, my neighbors, my daughter's strangers, everybody. So we leveraged 645,000 off this property that we put 350 into 645 is what what's going to be owed to us 645 30 years, we're selling everything that we do at 10% interest. So that same 350,000 borrowed, you can leverage on these types of deals $565,660 for 642% interest for 30 years, so that that 350k At 675 you can you can make 5660 on that. So you can cashflow three grand, three grand, you know, on that on that 350 And you could also of course flip out of it, there's a million things that you could do. So let's say we had a mortgage for 645. And then let's say we sold those mortgages for 80 cents on the dollar or walkaways 516,000 You know, I don't know that you could do that on a house. But that's that's what you can do with the land business with 350k liquids. 49:17 And the whole thing that we joke around, like doesn't matter how much interest rate you get that money for. I mean 0% interest that's a home run but even 6% interest that's a home run. 49:28 Yeah 675 And this environment is out of this freakin world. So I don't know where you got that money from, uh, congrats dude. Somebody asked we expanded to more states since our last live. We prefer Texas is where our money is is where we will spend our money but if you have a deal on any market lab, we'll be happy to take a look at it. A great deal looks like I said 50 to 60 cents on the dollar or a seller that is willing to sell or finance at a fair price. 49:55 So I want to own it. We got over 50 minutes man at that time went by fast 50:00 Somebody's asking how to comp big land like this, you want to cover that real quick before we move on. 50:06 I'll do quick stuff. So I want to cover I want to cover the hunt looking for a deal. This is easy. It's a price per acre. 50:16 So check this out. comps don't matter with land like this. So the land that we're selling for 19,001 99 for 10 acres, comps in the area 12,000. Alright, so we're selling 50% above ARV. Right. So comps kind of don't matter in land, especially if you're doing seller finance. So for land for comps, big land comps, I just checked to see roughly what's pending, at what price and that also has to be the exact same size track. So if you find a 10 acre tract, it needs to be other 10 acre tracts pending for that because in San Antonio, you can buy one acre for 99,000. But you can buy 10 acres for 200. Right? So you have to see what's pending at what price, we usually do that like on Zillow, That kind of you don't even need MLS access. 51:01 All right, so for everybody here that wants a nice house. And for different markets, that might be like a half million dollar plus, for California, that might be like a million dollars plus, put a one on the chat. I'm gonna give you my play of what I'm gonna do to find a house with high interest rates to find me a million dollar house. So I'm literally doing this right now to find a million dollar house. So remember, I told you 40% of the houses are owned free and clear. So what do you look for? high interest rates affects high end properties the most. So everybody that has expensive houses, they're the ones getting hit the hardest with interest rates, if you look up, and this is where I look at Zillow, I don't pay for any other service. Like I literally like a Zillow, you can search Zillow criteria. So in Atlanta, it might be 400,400 1000 7 million because I remember in Atlanta, that's 4000 Like a really good, nice house. But you can search those parameters for $1,009 and see what's there. What's and for me, like I'm looking for a million dollar house 900 to 1.2 here in California. So now what you do is you look at us remember, you start looking for a certain criteria, the more expensive the property and this is think about this, if you're doing multifamily, doing commercial doing storage, all those same idea, those those properties getting hit the hardest because interest rates, so as more interest rates go up, the less that value is because as a side note, if you're into commercial or anything like that, I saw a statistic today that there is a trillion dollars worth of commercial debt coming up in the next 48 hours because the debt service doesn't make sense anymore. Because the interest rates have gone up so high it blows their the financing out of the water. So now their their debt to income isn't isn't good enough to get a refinance out that loan. So that's a nugget for all the commercial people where everybody else's wants it wants a nice house like me, alright, here's the play The plays you search for the house tap house you want is going to be different for every market, depending on the high end house you want. Then you need to reverse engineer. So we're looking for properties, especially with a lot of equity. So for me in California, there's a lot of old money here and then there's a lot of old money in most markets. So figure out you know, if you think they've been familiar with their city, but they're living long enough, you know, the old money is there's all parts of town where old money is where all the people, all the boomers are passing their properties and stuff like that. So think where the old money where's the old money? San Antonio Anthony? 53:38 Dude, so there's a Alamo Heights here. Right now we have a property that the guys willing, I can look at my text messages. The guy wanted 750,000 like 90 days ago, and now we got them down to about 600,000. The property fixed up is worth about one to 1.2 53:52 so Alamo Heights in San Antonio for Los Angeles people. 53:56 There's a lot of them. Yeah, there's Terrell hills, there's the Dominion world the million dollar houses are. 54:00 So all those houses, there's probably listed in my area. I want to live in Temecula, Temecula, California in Southern California. And Temecula, California is a really nice area. And here's why. It's a nice area. So the money is, so I'm looking for 900 to 1.2. In my search area, there's 200 homes that fit my criteria. From there, I work backwards and figure out days on market. There's houses that are on market over 150 days, days on market and after two days, then I look at which properties and then you can you can search like when they last sold. So one of the properties I think about the other day, they last sold for 250 15 years ago. You think they have equity, 54:42 equity, and 54:43 they own it free and clear. If they don't have equity, they own it free and clear are pretty much damage to it and here to it. So now what you do is you find a way to detox you can pull the expired listings. We said that early on expired listings are those criterias or you can get the ones on market. it and see if they're open to payments over time. What's our what's our sellers? What's our sales pitch for credit? Financing? Anthony? 55:07 Okay, yeah, that's something we wanted to cover as well as, how do you offer? How do you ask a seller to be the bank? 55:13 How do I set out to be the bank, you'll 55:14 have Anthony. So what we do is we we do a multiple choice clothes, we never do a take it or leave it closed, like my office 350 Or go to hell, we don't do that. We say, look, here's the thing. Capital is very expensive right now. Right? It's super, super expensive right now. So if you want me to pay you a million dollars for this property, and I gotta go borrow that money, this property is not going to cost me a million, it's gonna cost me like 1.21 or 1.15. So I'm trying to see if we can make a deal here. I'm an investor, right? If the only thing that provides value to me as an investor, is I need to either need a discount, or anytime to pay. Other than that, it's going to cost somebody else, right? No hard feelings is just numbers. And this is another good quote, it's not me against you, it's me and you against the numbers. Right? So if you want me to give you cash, if you want me to move cash from my bank account to your account, I either need a discount, or anytime to pay. That's the only thing that provides value to me as an investor is not the guy's lot next to yours is exactly like it that might ask him, right. So if I am going to give you a cash offer, it's going to be I need room to pay back my lender, right? Because I buy a lot of properties. And if I bought them out of my bank account, I didn't it'd be a billionaire, right? So I'm going to leverage the Capital One to borrow from somewhere else. If I'm going to move the cash from my bank account to your account, I need a significant discount so that I can both make some profit for myself, and make some profit for my lender. Right? Does that sound fair? Does that make does that sound logical? Does that sound crazy to you? No, no, you're right. So if I'm gonna give you cash, my numbers gonna sound a lot like the other wholesalers and the other investors that you're talking to my number is gonna sound exactly like theirs for that reason. But what I would like to do is I'd like I kind of don't even want to give you that number, because I don't want to offend you, right? I don't want to give you a number where you're gonna hang up on me because I want to buy this property. I don't want you to hang up on me, I would love to get send you a contract. And I would love for you to sign it so we can get this deal done. So the other option that I'm going to extend to you and you don't have to do this, the other option that I can do is instead of me paying another lender is I can pay you for the loan. What does that mean? Yeah, instead of me having to go borrow million dollars, you can lend me a million, and I'll buy the property from you. So what I can do is I can pay you very high interest on the money that you lend me spread out over 10 years or 20 years or 30 years. So that you're not only gonna make a million, you might make like 1.3 1.5, you can send send them an amortization schedule, right, a million dollars at 8%, or nine or 10% interest spread out over 30 years, they're gonna make like four and a half million dollars. Like, okay, so the next objection you're gonna get is like, Yeah, but I'm going to be dead in 10 years, I'm gonna be dead in 15 years, I don't want the money, then no, no, no, sir, you're gonna give me the property spread out over 30 years is gonna be amortized over 30 years, but I'm gonna put a 36 month balloon in there, I'm gonna put a five year balloon on there, you're gonna be paid off in three to five years. And you're still gonna make a killing on the interest. So that saves me money from having to go borrow the money somewhere else. And it makes you a ton of money because you're getting paid eight, nine 10% interest? Which one of those? Would you rather? Do you want me to write you a check? Or do you want me to, you know, work out some kind of scenario where I can pay you very high interest spread over a few months. 58:25 So Andrew likes paying interest. I don't like paying interest, I'm gonna ask for equal payments over 30 years. So he gets you can take his analogy, but 58:35 but think about it. Think about it. If you're paying 25% interest for 12 months, how much interest Did you pay on a million dollar loan? 25k. You lend me a million I'll give you 25 grand? How does that sound? So 58:52 alright, okay, so we're not going to do going back to my analogy, I'm looking for a million dollar house, if I get a million dollar house leverage at 0%. Finance is 2700 a month. If I were to go finance capital through a bank, it would cost 6% 6000 A month. So if I'm going to ask for seller financing, at their asking price at 0% interest, so be under 3k. That way, I'm not paying six grand. And that's how you get a free property. 59:26 So that ties back to what I was gonna mention earlier, Daniel said we covered it last call, go watch the last call. It sounds like there's going to be around three aces, we need to go one more time. If you buy a property at $4 million 0% interest, your payments 3000 a month. All goes to the principal. If you sell that property turn around and sell that property, you know at $10 for a million dollars. You buy it for a million you sell it for a million no markup, but you just change the interest rate from zero to 10%. How much does that make? 3000 A month 3000 A month spread for getting a property for a million and selling it for him In no market, you buy it for a million you sell it for $1,000,001, just from changing the interest, you have $3,000 A month spread created if you sell it for the exact same price that you got it for. So that's the power of playing with the interest. And that's something that we do a lot, we manipulate the interest, big time. And that's how we're able to make some crazy crazy deals. And that's why I'm also not afraid to offer 10% interest, because a lot of these deals, we're just going to take over the mortgage, and we're going to turn around and we're gonna get rid of them in 12 to 18 months, the longest one we've done so far has been nine months. So if you think about that, if even if I'm paying 18% interest over nine months, right, and I pay the seller 20 grand or 30 or 50 grand in interest, and I make 400,000 Like, yeah, you can keep that fit, that's fine. No problem, 1:00:40 still cost business. 1:00:42 Somebody asks, how does that change the taxes? I don't know exactly what that question means. But we got a bunch of quote, tax strategies and tax conversation. And we have two minutes to do it. And 1:00:53 I think we can bring it down so we can break this down. So taxes, taxes is another motivating factor of why these people with big properties want to sell. So for instance, I mentioned that seller who bought his house for 250, is now selling it for 1.1. There's $900,000 of capital gains tax off to pay in California is really expensive taxes. So there's gonna be like a 20 to 30% tax implication on that. 900,000. So he's have to pay two to 250. Maybe even the it's about 250 in taxes, if I were to pay him cash. So that's one of the newest features, we use this. Hey, are you ready to lose 20k to Uncle Sam? Well, no, no. What else? What other options do I have? Well, you can take payments over time. And as long as you we pay you out under $44,000 a year. It's actually tax free money. If you're married final single, if you're married, if you're married filing jointly, it's 80,000. So if you have 80,000 payments spread across annually, guess what? They'll taxes. 1:02:04 Dude, that's how I just closed the property. I needed to dig up the contract. I wanted to say it was like 1.2 million. So we had already negotiated at 10,000 An acre with the guy. He was ready to sign the contract. We sent him the contract, we signed it, we sent it over to him. And then he's like, No, I need more. I need more. So he raised his price like 200 grand. And then I sat down and did the math. And I wouldn't walk the property with him. Because this is all like phone communication. I want to walk the property with him. And I said, Hey, I said you're gonna pay like 21% long term capital gains. He was like, Yeah, and I was like, Oh, you're okay with that. I was like, why? You know, what's your strategy that are you planning on doing a 1031? Like, what's going on here? Like, no, it's fine. I was like, Wait a minute. 21% I was like, Is that why you raised the property on me? 200 grand, so I could pay your taxes. He's like, no, no, that's not it. And so we backup the property anyway, he did raise it 50 But he didn't raise it like 200 and some change, but we got him he wanted us to pay as long term capital gains tax. That's the price he raised it to. And since he knew that, I knew that he felt ashamed of himself and he lowered his price back like 200 grand so that's a whole entire nother ballgame is pitching the sellers and letting them know like hey, if you if you sell the property for cash, you're gonna take a big giant tax hit but again, man, I 1:03:10 think that's going to be part three. 1:03:13 Man, a lot of game dropped right now fellas. 1:03:17 Video sounds like we're speaking in French and people are in in real estate. Like what the hell are these guys talking about? 1:03:21 Yeah, no, I like that. You guys gave addresses for people to look up and see and see this stuff? Yeah, a lot. A lot of good questions in here in the chat as well. So a few people were asking how they can connect with you. I've seen you guys dropped your your website a few times. Daniel, can you drop it one more time for the people that want to get in contact with you guys? Yeah. Social media and stuff. Yeah, I'm gonna have to have you guys come on for around three to actually go into that because I know you. I know Anthony has some actual stuff he wanted to show you guys and kind of dive a little deeper into we just kind of got off. You know, I appreciate you guys, you know, answering everyone's question. So hopefully, hopefully you guys got all your questions answered. So that way when I do bring these guys on again, they can just dive right into what Anthony has to share because he has a lot more to share for us. So first of all, you know, thank you guys for taking the time out of your guys's day to come on for a round two for the squad. Like I said, what you guys are doing is man, what you guys are doing is great. And and yeah, it's it's great. Really, I don't have any other words for it. And I hope everyone listening whether if you guys have real estate knowledge, if you guys have any type of real estate background or not. This information that was given is you know, is top notch info. These guys know what they're talking about, you know, they know what they're doing. They have podcasts, you know, they have, you know, a website, all that good stuff that they're doing They got boots on the ground. And as you guys can see, they got multiple deals on the table. Now, they had tables on the deal last time they came on and stuff is gonna keep happening. So if you guys want to get in touch with them, you guys can go, you know, check out their website, you guys to check out their podcast, you guys can connect with them. You know, this is just kind of the tip of the iceberg of what they do. You know, I've got to talk with these guys offline, they do so much more than just what they're covering right now, this is just a very small portion of what they do, what they're covering and where they're going. So I hope you guys did reach out connect with them. Outside of this, I hope you guys took a lot of notes. Like I said, there was a lot of a lot of information was dropped, this class is going to be recorded for those of you that you know are kind of clueless or or don't understand, that's okay. There's nothing wrong with that. And that's why we're here in the class today. That's why, you know, I tell you guys come to class ask questions. There is no such thing as a stupid question. Someone said, this might be a stupid question. There is no such thing as a stupid question. You know? If you don't know, then you just don't know. And you got to ask until you know whether if it's whether if you think is stupid or not just ask your guys's questions. Like I said, thank you guys all for attending the class. I don't know Anthony or Daniel, do you guys have any kind of last words for us before we wrap this up? 1:06:15 Yeah, we do have a podcast called the hub for this podcast. And then we actually have a landmass around, we kind of break down the bigger deal. So if you text land, to 210-972-1842, that'll give you a link to our land mastermind product that we do that we do weekly calls on. Like I said, a lot of the stuff like we're just here to help help the help the platform and help help all minorities out here trying to make a difference and come up in the world. 1:06:41 I keep on saying the real estate game looks like us now. Somebody asked me what why would somebody buy Atlanta, they're not gonna build on it. People buy land for investment purposes, it's always appreciating a lot of the richest landowners that we have met. They're all like old farmers like that had been buying land for like 100 years, and they have properties that are worth $20 million. They don't even want to sell it. They just sell it someday I'm gonna give it to the kids. So they know they got 40 million in the bank, and they're not even trying to access that cash. So people, people buy land just because they're gonna hold on to it for a very long time. But we appreciate you as man, we appreciate the squad and anything anytime we can ever provide value. We love being aligned with you guys. We think what you're doing for your community is effing amazing, bro. So yeah, thank you for having us on. Really appreciate the time. 1:07:20 Appreciate it. And a couple of quick things that I didn't want to talk on that you guys had covered. When you guys when the question that was brought up about the whole realtor, I'll tell you guys, from my experience, your benefit is to always make sure the realtor gets paid. Now I would say the route of going to get in contact with the person who owns the property, I probably would try to reach out to the person who owns the property first before going through the realtor. Just because if you give the realtor your game plan, they might have other friends who may be might do that. And they might try to pass it on to them. So connect with the owner of the property first you guys and let them know, Hey, if you do have a realtor, let your realtor know that they're going to get paid. But this is what I want to do. Your best bet is to go to the person that owns the property first, because they have the final say of what they want to do regardless. So if you guys go the route of getting in contact with the realtor first, the deal might get cancelled just based on because if the realtor doesn't know you, there's a chance that the deal could fall through not saying that that will happen. But your best bet is to reach out to the owner of the property first, let's be upfront you guys, you know in this in this game, and I'm sure Anthony and Daniel will back me up, be transparent, be upfront, but you want to be transparent and upfront to the right people. Right? You don't want to you don't want to give your blueprint to the wrong person because then that person might take it and pass it off to their friends or so on. Like I'm telling you guys, so get it, get in contact with the owner first let them know, Hey, I see you have this listed on Zillow. This is my proposal to you, this is what I'm looking to do. This is what I do. This is how I do it. And mate, let your realtor know that, hey, they are going to get their commission that I want. I want to make sure they get paid. And then when you guys do that, by paying the realtor and making sure they get paid, you might just have made a new friend that's about to bring you more new deals. So you guys never want to step on anybody's toes. Um, one of the other things was Hold on. Let me see. Let me go back up. So the question so that was the one about the realtor. Oh, yeah. Like, like Anthony was saying. A big reason for these deals are out there all the time, you guys. People are looking to whether if it's a single family home or a multifamily home or commercial property, land deals, anything that's real estate related. People go through shit in life. People go through divorces, people, you know, have injuries or get some type of illness or they get that property passed down to them and they have no real estate knowledge. They don't know what to do with it. There's literally 100 plus different scenarios of why a person would want to do these type of deals, right? So it's going to be on you guys to take the time and effort to start figuring out how do I find the person that owns the property? What type of scripts that I say to this person. And if you guys don't know or don't feel comfortable yet was, you know, I always tell you guys, get someone that can help you do that. This is why I brought these guys on, these are the people that can help you guys do that. So if you guys don't feel comfortable enough of reaching out, or if you guys don't know how to find, you know, the owners of the properties, or know how to look for a deal, or know how to evaluate a deal or know how to run your numbers get with an expert that does that. So it's like, would you rather have, you know, a small piece of the pie? Or would you rather have none of the pie at all, you know what I mean? So eventually, before you can have that own pie, you need to get all the ingredients, so you can make it yourself. But until you get all the ingredients, you need to figure out you need to find someone who has the ingredients, and this is what they this is what they do, they have the ingredients to it. So once again, thank you guys for coming on. I'm gonna give it to you guys offline, so we can figure out a time that works to bring you guys back on for round three, a lot of information, you know, great class, I appreciate you guys taking the time out of your day. For all everyone in the squad. Thank you guys for taking the time every day. You guys ask them, man, you guys ask them really great question. And seriously, you guys were spot on with the questions. And that's, you know, that's how you get better. That's how you you know, that's how you start building your network. That's how you start getting things handled is by asking questions. If you just sit back and just listening and you're clueless? Or if you maybe have a question, or if you think no, I'm not going to ask that because it's stupid. You're missing out on opportunities, what you're doing, you're kind of shooting yourself in the foot for no reason. What did you know? What are the only three people so on our face, everyone else is behind their phone behind their computer, we don't see what you guys look like, they don't see what you guys look like or know who you guys are. So ask those questions. Even if you think it's a stupid question. This is the perfect place to ask those questions. And as you guys see, they took the time to make sure that they answered every single person's question you know what I mean? So ask those questions you guys that's why we have these classes. This is why I like to bring on experts in their field to be able to do this for you guys. So great class you guys again, you guys knocked out of the park for usual I didn't expect anything less from the last class. I know Antoine was trying to connect with you guys so I know he'll probably be reaching out to you guys soon. He said he was really interested. I know a few other people are so salutes you guys what you guys are doing. Keep your foot on the gas. You know all the wealth squad members take advantage of this stuff. You guys seriously take advantage. make something happen change change the legacy of your family, change your last name, you know what I mean? Change the change the legacy for your families last night. So that's all I got for you guys. I hope you guys have a great rest of your night and I'll get with you guys soon. 1:12:52 Thank you brother man. God bless y'all, man. Thank you for having us on. 1:12:55 Bye. Have a good days.

Daniel Esteban MartinezProfile Photo

Daniel Esteban Martinez

Host/ Ceo/ Speaker

I have been an entrepreneur since 2018. I come from a regular home just like most people. My dad worked on the roads in the Chicago area for over 30 years. He always taught me to work with my brain, instead of my body. Your body can only take so much abuse. I learned so much from my father. He always pushed me to work smarter and not harder.

I have owned and operated a trucking business for 2 years. I started learning real estate in 2019. Fell into the Data & Skiptracing business in 2020. My partner Anthony & I started Hivemind in 2021.

I have done a ton of different jobs coming up from painting, to door-to-door sales, telemarketing, truck driving, and loading trailers. What I learned most is that I want to stay in the digital business space. The leverage you can have delivering digital products to the marketplace can yield limitless possibilites.

I started The List Guys in 2020. It is a data and skiptracing service. We provide seller and buyers list nationwide. My clients have been getting great results and I am proud to help people killing it.

I started the Hive in 2021 with my partner Anthony Gaona. It is a real estate and business mastermind. It also comes with a all in one CRM, that can host unlimited websites and users.

Starting the Hivemind has been an amazing journey so far. Seeing one of our users make his 6 figure month in June 2021 leveraging our software, I know there will be plenty more to come!

Anthony GaonaProfile Photo

Anthony Gaona

Host/ Ceo/ Speaker

Hi! I am Anthony Gaona.
I’ve been in digital marketing for almost 15 years.I grew up in construction working for my dad when I was only 12 years old. Normally we had a ton of work or no work at all so a lot of my free time was spent learning how to generate leads.

It didn’t take very long for me to master online marketing because I became absolutely obsessed with it. For the last 15 years I’ve been generating construction based leads. At first I was running the projects myself. This led to sub-contracting all of the excess projects and eventually wholesaling the leads off to other construction companies.

One day I was preparing to build a single family residence for myself. In mid December, 2018, a simple YouTube search led me to the term wholesaling and the rest is history. The plan was to use my construction background to start flipping houses. By January 1st of 2019 I launched several marketing campaigns both on and offline for real estate seller leads.

Within about 4-5 weeks I had my first real estate contract locked up. It didn’t take long for me get a land lead where I made almost a full year’s pay on a single transaction. This came from a land lead and that forever changed my life.

I ran low volume larger land deals for the first two years of my real estate career. Like anyone who has been in real estate investing for an extended period of time, I started thinking about scaling my business.

Instead of deciding to vertically integrated and start hiring I imagined a model where I would teach my real estate investing methods to others. This would free up my personal bandwidth and allow for unlimited large scale transactions.

Currently our operations are expanding globally. The goal is to identify one person per major US Market that we can build a team around and drive traffic to so we can close high volume transactions together.

You can learn more about our vision and join our free mastermind by joining hivemind CRM on Facebook and all social channels