0:00 I've been busy more recently with I'm in assisted living of course, as you guys know, really doing a lot of things there with bigger size facilities we're doing like 16 beds and up is what we're looking at. So not the smaller like residential home base assisted living stuff, I'm not doing that stuff anymore. 0:22 This show is sponsored by hive mind CRM, it is more than just a CRM. It is a real estate and business mastermind that comes with an all in one CRM, you can have unlimited websites and users, you can call text, RVM, and email all in one user interface and you can set up custom automations for any type and multiple businesses. 65% of companies start using a CRM system within the first five years of business. Once implemented, the hive mind will save you on marketing give you more time and make more money. One of our users had his first $100,000 month using our system in June, we want to see you automate and accelerate your business text us at 2109728 t 42. For future meetings. And of course, to get our $1 course on how to make more than six figures on one land deal. You can schedule your free demo today at hive mind CR m.io. 1:20 Daniel Martinez, three of our special guests, Mr. Rob Sima, I guess may want to wanted to go over as the gator stuff, right? Yeah. So I guess what if we could talk about who is our target avatar? Who are we looking to work with? Who should be looking for us? And then as we progress and we identify like what a good deal looks like? How much money do we have readily available to put into what types of opportunities? The last thing I would want to cover is like what is our best opportunity so we can figure out let's think of two boxes, who is our, who do we not want to work with and not that we have anything against those people. It's just like, we just don't want to see these types of deals for this length of time, and who our exact avatar is what we would like to see over and over and over again. Let's go into detail about that. Like at what point should that person in the transaction contact us? When did they bring us in? What services do we provide? What what that looks like as far as like a gator? You know, if we do the gator method and we work with these people? What kind of returns are we looking for? What kind of returns are they looking for? So if we could just walk through all of it. So let's pretend somebody's never heard of Gator and then some people are already actively working and looking for gators to work with. So we hit Oh sure. 2:25 Sure. So Gator is a part of the larger world called transactional funding right? Transactional and and within there's obviously different compartments within that world Gator specifically the way pace Morbi has taught it is right now at least it's focused around two different things earnest money funding earnest money and double closings. So for those of those people who are not familiar with what earnest money is earnest money is that those funds that we put up, it's called consideration that we're putting up to sort of lock in the contract, right? We're showing the seller that we're serious about this transaction, that's where earnest money is double closing is basically what it sounds like a wholesaler typically has a property that they're under contract with, they want to close on the property and then turn around and sell it usually same day to another buyer. So they're double closing all in the same day, which is the other kind of funding we do. Now. The question about how soon should someone contact us? In order to do that? The answer is always like, the sooner the better. If you're calling us on a Friday at you know, three o'clock in the afternoon, because you have to close your deal by four o'clock highly unlikely we're gonna be able to help you. You know, we need some time to underwrite the deal. We need to make sure that the deal is legit. We need to make sure the biggest thing is we want to make sure as as Gator lenders that we want to have more money be protected, right? So we're going to look at things like inspection periods, we're going to look at things like when does the money become hard? That sort of thing? I typically I won't do a deal unless I'm protected on it. Right? When we're talking about earnest money specifically, it's risky. It's risky on on the lenders behalf because the only thing really protecting us a timeline, right where we're protected only if we're within the inspection period. So as soon as we're past the inspection period, that money becomes what we call hard. And it's non refundable. If we cancel the deal. For some reason that money goes to the seller. So the only thing really protecting us during earnest money deals a timeline and we got to be really careful with that timeline. We want to make sure it doesn't fall around holidays. You want to make sure we have ample communication expectations around the timeline. We're not going to wait until 430 The day have to cancel if we don't have if the wholesaler hasn't found a buyer yet. The sooner we can sell usually the day before the better right because we want to we want to protect everybody. Now you have communication with the title company during all that right that's It's like paramount. Yeah. So it's imperative that you have lots of communication with all parties involved, right? The wholesaler, lots of communication, you want to have lots of communication with the title company, it would be ideal if you can have a little bit of communication with the seller, like just so everyone knows what's going on. If you can have a communication, at least know who the new buyer is, so you know what's going on there to more communication never heard anyone, right? We want to make sure that everyone's aware as the gator I have various documents that I use, besides the majority of the time I'm using a JV contract with the wholesaler. But there are other dogs that let those various parties know what my role is and what my expectations are when I'm funding that deal. 5:45 Okay, let me ask you this. So I'm starting to get more and more messages now where people come in and they say, Hey, I need Gator. What do you got? Oh, I'm about to lock up this house that's over in South Memphis, do we want to start helping them at that point? Because a lot of these are new newbies. Some of them are struggling to write a contract? Should we be looking for people that are already familiar with the process? Or can we work with a brand new person? Is that even a thing? 6:07 Yeah, it's great to work with a brand new person, because it helps you establish a little bit of history with that person, if you are helping, we're not only providing funds, we're also providing support during that whole transaction. Can I help you find a buyer, I actually write a clause in the contract that says if I bring a buyer to the table, I'm taking a bigger cut, right? I want I want to help with, Hey, let's underwrite this, make sure that your numbers are right. Hey, let me talk to your title company. How about we use my TC to make sure all your docs and everything are in order and that everything is good to close? Me coming on. And also bringing a TC on a generally raises the success rate of us closing those deals more often, right? Because those new wholesalers, they're not always all super versed with the process and the paperwork that's necessary. 6:57 Okay, I love this even more now. Because I thought it was more so like here, like a transactional like here, we're going to do pay me when we close that kind of stuff. But if you're really gonna reach out and help people and walk them through stuff, that's amazing. And because I feel like that's what a lot of people really do need, like, they're, hey, I'll partner with you just show me what to do. Or what's my next step? So I really liked them. And have you done a bit of that yourself? Or does your team kind of work with those people if they're a little bit newer? 7:20 Yes, all the time. And the truth is, as the business model of Gator is generally helping out newer wholesalers. So we deal with a lot of new wholesalers, and we're always here to help. We're here to support we call ourselves transaction engineers, because we can help you get your transaction from even before you have it locked up under contract all the way through to making sure that everyone gets paid. 7:44 Oh, man, I love this. Okay, and not to get super cheesy, but like, if you really are a Go Giver, you're doing this all the time anyway. Right? There's there's new people out there that'll say, Hey, man, I saw you something about land in Dallas Page, I need some help with this deal. What do I do next? So I'm like, hey, look, make sure you do this, make sure you need to contact an attorney, hey, you should just get a realtor involved. You kind of walk them through what the next steps would look like. And then next thing, you know, they're like, yeah, hey, can you just partner with me on this? And I'm like, looks like a great deal. So just from reaching out and helping other people, sometimes deals come back to you. So I love the environment. Yeah. So they're coming, you know, they might need help funding, but they also might need some guidance, too. So it's a perfect marriage. It's, it's something you're going to do anyway. 8:19 And not only that, sometimes you can insert yourself into the deal as the buyer, if a wholesaler covenant says, Hey, can you fund this EMD? For me, let's talk about that scenario, where I have the clause that says if I find a buyer, I get an extra chunk of the deal, right? Well, I'll fund your EMD. And I'll find the buyer and that buyer will be me. So I'm making multiple deals here in one. And plus, it's it's better, you know, Legion for properties. If I can have 1000 wholesalers bringing properties to me that I get first eyes on, that just makes everything better. Okay, 8:54 that's another thing that I was thinking about, which really made me love the gator model that I have haven't heard a lot of people talk about, is that right there? It's like yeah, the more deals I'm looking at, like I have all the best intention to get this deal from here to here, but possibly quite possibly, I want that deal for myself. Right? So that leaves a that leaves you in a whole different position is like not only will I fund this, I will also buy it so that relieves a lot of the burden from from the wholesaler or the investor. closer if somebody's dealing even close at all. Yeah. Oh, yeah. That's so you're still your Gator situation is very well backed. Because now I'm gonna I know I'm going to perform. I'm the buyer now. That is cool. Okay, yeah. So that's something I guess that that adds another layer to this. So it sounds like we have transaction engineering. You know, new personal assistants, we have funding. You said you had a transaction coordinator. Right. And then also I'm sure you have connections with title companies or attorneys. 9:51 Yeah, we definitely have connection with title companies. We have lots of connections with title companies who are able to handle creative deals. We're doing a lot of creative deals. Coming out of the Subcommittee, but yeah, we definitely have those contacts. The other thing that we were kind of talking about earlier was the whole double close thing. You know, as, as more and more states sort of put restrictions on wholesalers without licenses, that this whole double close thing is going to come into play more and more. And those are further opportunities as a gator to come in and insert yourself into those deals. A lot of those deals I'm typically doing if I have enough, right, like, if I know about the deal early enough, and I can take my time structuring all the all the capital, everything, usually we're charging 2% ample warning that this deal is coming what I I'll borrow the money out 1% I'll loan it at 2%. I'll take 1% And I'll pay back 1% can we do 2%? If it's like a deal that you need to be done right away? Usually not. Usually, we're going to be asking a little bit more on top of that, just to facilitate attention that we need to put on that deal. Really quick 10:59 speed is basically cost you I was gonna say that's very fair, if you say, hey, I need to borrow 20 grand or 10 grand? And you know, I'll pay you back in 30 days. Okay, cool. When do you need it by in two hours? Like, come on, man. 11:12 That's true. But usually when we're double closing a house, we're paying the full price of the house. So it's not 20 or 30 grand? It's like, hey, I need 250 300,000. Can you guys get this to me tonight? Or by tomorrow? Maybe? Like, let us go to work and try to see if we can make this happen really quick? Yeah, 11:29 I've been seeing a lot of people ask that, as they say, Well, how much is this going to cost? Or how much percentage are you looking for? And I'm like, let me look at the deal, right, we need a lot more information to be able to determine that because some of this stuff is too muddy, right. And then some of it's risky. So these are being that these are new people that can be involved in a deal that doesn't have a lot of upside, you know, that is a lot of out of pocket for a little bit of return. So I guess that's when you'd bring in your expertise, as well as as the funding partner that says, hey, this is probably not going to work out the way that you're thinking it's going to work out, we can let's take a shot at it. But therefore, you know, my risk is going to be a lot higher. You know, what, what can we do about that? And then that's up to you. And both of you to say, hey, let's just walk away from this one. 12:09 Yeah, exactly. And those are only like deals that are rushed orders. And we're talking about deals where we have time, I feel like I'm pretty reasonable. I charged 1% of the purchase price for EMD and 2%. For double closings that way. It's a flat fee. Everybody knows what's going on, it's always the same, it's not on a deal by deal basis. You know, if it's a rush order, I'm going to have to see if my team can get on top of it. And that might cause a little bit more because of the diverted attention away from our other deals. 12:38 I love the menu pricing. I think that's smart. I think it works. So yeah, I think one in 2% is very, very fair. That's like the bare minimum, you could ask from somebody for moving around a considerable amount of capital on your behalf. So yeah, man, it sounds like you checked all the boxes. Let's talk about sub two a little bit in how did you how did you end up at paces house. 12:56 Um, so I joined sub two in July 2022 and started jumping in, you know, the community is all about being active, trying to provide value to each other, supporting each other however you could, and pace Morbi our trainings, said something that really stuck with me was like, hey, if if you're out there providing value, we see what you're doing when you're providing value. And I was like, Well, I'm gonna put this to the test, you know, let's see what happens. And I just started providing value, I started helping as much as possible, you know, people had questions about where do I go find this, I will try to answer it. And I also volunteered to help out during the elephant challenge, which is a a challenge that pace and the team puts on teach people like those basic fundamental things about wholesaling and real estate, just at a basic level. So I was helping there and joined the gator community pretty early on, when it started and pace called me out one day is like, hey, I need some help with this. Would you be willing to help and you can't say no, I jumped in and you know, learn learn and you know, fly by the seat of your pants and do the best you can. It was all it's all still pretty new to me. You know, I tell pace all the time. It's like I'm gonna do the best I can. And we'll we'll see what comes out of it. You know, I've been busy more recently with I'm in assisted living of course as you guys know, really doing a lot of things there with bigger size facilities we're doing like 16 beds and up is what we're looking at. So not the smaller like residential home base assisted living stuff. I'm not doing that stuff anymore. So that's taken up a lot of my time and my focus few months but gators there it's always something that I'm interested in and I love doing Gator. 14:48 Thanks for watching this YouTube video. We hope you found value please like subscribe, and hit the bell to watch more videos just like this.