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Feb. 24, 2023

Ep 339: Selling To Opendoor With David Pupo

Ep 339: Selling To Opendoor With David Pupo


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0:01 How do you say your last name? Kupo? 0:03 That's it right there man Hoopoe. Okay, 0:06 I just want to make sure. And go. Hey, welcome to the next episode of the happiness podcast. I'm your host, Mr. Daniel Martinez. Today I have a special guest, Mr. David Kupo. Please go check out his other interview. If it's not before after this, please go to watch it. We did another interview with him. So please go check it out. But this story with this. This episode is more about deal breakdown. We talked about core interesting stories. So what is your cool, interesting story that we aren't talking about today? 0:33 Yeah, yeah, I would love to be able to share with you guys a property that we were able to say that was our largest deal to date. And that was awesome in terms of it was a real estate wholesale deal, right. And this was back in like the heyday. It's I'd say it's crazy. And heyday was 2021. Right? But back when you could see all have these hedge funds coming in and buying in the droves. Right? So back in 2021, we were doing very heavy Facebook advertisements and pay per click here in the state of Florida, right? So we get a guy in Miami who wants to be able to sell this property. And we knew immediately he was like, Hey, I mean, there's some work that needs to be done, but not a crazy amount. All I really want is that I just want to know that I've been able to sell the property, I want an offer. And I'll accept the offer. I just want a few months to be able to move out. And I was like I mean that's that's like an easy no brainer for us. Right? So we were able to get him from our this was a Facebook ad actually in Miami. So when we got him we just like had that conversation. And it was just a few days after honestly, this guy was it's an ideal seller. He was decisive. He was quick and asked any questions that we that he wanted, we answered them, he was ready to proceed right. So we bought a townhouse over in Miami for only 180,000. And the property was in good shape the townhouse was in was in pretty good shape. So I think it only needed to be a deep clean, he did leave a lot of stuff there. So we did have to pay for a company to come and do like a dumpster clean out for the property. But what we were able to do with that this is when the model of wholesaling was really still there, right by for a wholesale price, sell it for a retail value. And what we did there, it was awesome. And this is what open door was just like I had a good rep and they were just asking us consistently Hey, send us deals and this deals, but at that time, open door wanted to make sure that you were the deed owner, you couldn't just assign it to them. And they would not. They really really we did one double close with them. And they were not cool with it. So they asked if we were going to work with them in the future because that other deal that we did another deal that we did with them, we made like 40 on it. So I was like I am not biting this hand like we'll take down the property and we'll sell to you like seven to 10 days later. Right? So we took down this property with some private lending and yeah, we sold it resold it over to open door for literally $360,000 So we were able to essentially double the amount that we bought it for and what we sold it for and that was that was gangbusters man it was a really great riot when it came to those hedge funds but I knew that that model only worked in one direction and I hopefully you know it works for us you know we were out in and out of it pretty quickly but I don't know if open door was able to resell that or not before the turn happened. 3:35 I think I think one of the cool things about that that when that strategy came up is that who cares? Because their money 3:42 Yeah, man and we would have people saying all the time well don't you care that they are that they're like rising all the prices and stuff like that? I'm like oh if they're buying it for me for 360 and I'm selling to them 180 I don't care what they raise it up to I just met it I was making more money why why would I care about that? 3:59 Yeah, and I think I think a lot of people they want to like like oh is it's so wrong of you to make make money and capitalize on the market and like me as an individual cannot determine if it's going up or down doesn't like I don't control that so if I'm gonna make money on Netflix going up or down I mean it's that's on me. And I think a lot of people they there was a side note this will kind of kind of on the same stigma that somebody tweeted the other day I was like oh you're somebody was giving them this guy person heat for worker exploitation. And I commented back I was like if you don't want to believe in work exploitation just throw away your iPhone and I think made in China just don't even don't even use anything made in China, if you don't so it's 4:42 it's an investment. Some of them you hit really heavy on I'm not gonna lie that was you know, that was one of our biggest ones that we've that is the biggest one we've ever done more stuff than not, I'm, I'm solving a lot more headaches, right? And I'm making average of 12 to $15,000 per deal and I'm dealing And I'm clearing out a whole bunch where probably at one point or another, this property was either going to get foreclosed on the city was going to come in to condemn properties, they had to deal with probates. I'm the one that gets them all those team members to be able to clear those things out. And we've been able to help out a lot of lives. And that, you know, I love being able to say we did one really great deal. But what I always like to be able to do really is share good stories. How are we helping people out? And I mean, I tell sellers all the time, you can imagine, I am not St. Jude's, I am not a nonprofit, like I am real estate investing. I'm an investor. So I do look for profit. And if you say it upfront, more people are you know, they're cool with it. It's not a shocker. 5:41 And I'm really glad you mentioned that too. Because one thing we're doing now is we're just closing like, we'll talk to agents and like, yeah, we're investors, we're looking for a profit. Is there any type of spread we can make on this? If not, yeah, I understand. Like is it says a seller, there's some type of situation where they need to liquidate like, it happens. It's not as it's not even, like, shamed upon or frowned upon. It just happens, divorce, that probate, like, all that stuff happens. So it's not even, it's not even a bad thing. It's just the way the market turns. And I said, the people we're trying to help. There are few and far between, which is, do you want more? 6:19 Yeah, and I'm telling you, the guy for this deal. Like I asked him, What do you want? And he told me 180. And I was like, I mean, okay, I'll give you the 180. Because at that time, this is when things like within two months could like expert like exponentially go up. Right? So we originally were seeing it at about between, like 315 320 for that property. And then between the time that we got it under contract at that time, we got two new properties that closed and that just gave us a new now benchmark that allowed us to make more money on it. And you know, that was that was spec? You know, look, I would call it spec. Look, I wouldn't I didn't bank on that. But I mean, it worked out, right. 7:02 It's easy to make money on the upward market. Yeah, agreed, 7:05 agreed. And, you know, this is that time right now, where people really need to take that little bit of time to talk with their CPAs make sure that their expenses are dialed in that they got their KPIs or key performance indicators dialed in. Because this right now this is going to be that market where the dust is still a little up. It's settled from what we saw in like August and like September of 2022. That was like, you know, a sandstorm. Right? Everything's going crazy. The dust is now settling a little bit, but it is not settled. So we're curious to see how things are going right 7:40 now. Yeah. Where can people find you online? As this great great story, man. I like that 7:46 stuff. Yeah, man. Like I said, it's great to be able to a guy gave me his price. So that's awesome. But then you know, hey, I work a lot with the the hedge funds while they could do it, where you could find me very easy guys. As you can imagine, David pouco is not a hard first and last name. You're gonna find like two or three other needed probably in the nation, but you can find me on Instagram. Tik Tok Facebook, I put my handler right there my handle right there. So at dollars a David, and then we got triple And that's part of our coaching program. So you can find me at triple 8:20 There you go. I hope you enjoyed this episode. We'll see you for the next one. The markets go on your way. Hop in. Yeah. If it's not take a little bit more delay. 8:31 Absolutely. Thank you.

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!

David PupoProfile Photo

David Pupo


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