Retire Rich: Real Estate Strategies for a Secure Pension and Cash Flow

John Harcar (00:02.372)
Okay. Hey guys, welcome back to our show. I’m your host, John Harcar, and I’m here today with Mike Turner and what we’re going to talk about with Michael, besides his journey in business and in real estate, we’re going to talk about how he’s building a real estate pension. From what we talked about before we got on air, guys, it’s really, sounds really, really cool. Remember at Investor Fuel, we help real estate investors, service providers. I mean, really all real estate entrepreneurs, two to five X their business.

You know, we provide the community, the tools and the resources to grow the business you want to have, which helps live the life that you want to live. Mike, man, welcome to our show.

Mike Turner (00:40.878)
Well, thanks, John. I’m excited to be here. It’s, as you said, I’m in this path. I’m trying to, you know, I’ve been building this real estate pension. It’s something I’ve been working on for a long time.

John Harcar (00:52.462)
I it. I can’t wait to learn more about it. sounds different, right? I haven’t heard anything about it. But before we get there, why don’t you kind of fill our audience in about you, your background in real estate and business and we’ll approach it today.

Mike Turner (00:57.422)
Mm-hmm.

Mike Turner (01:02.35)
Sure. Yeah. All right. So long story shortish, it’s like I, I read a book 20 years ago, you know, the rich dad, poor dad. Yep. And mind opened and I was like, wow. I, and so I, I was coming out of a unique job where I was traveling all over the world doing TV shows and movies. And that’s a longer story for another time, but came, came back and I had these gaps of where I

John Harcar (01:09.863)
Ha ha.

Rich Dad

John Harcar (01:27.398)
Okay.

Mike Turner (01:32.718)
you know, needed to fill my time. And so I started reading about real estate. I owned a house. I was lucky to buy one in my early twenties and it was in California. And all of a sudden it’s worth like double, almost triple from when I first bought it. So that launched me. was able to use the equity in that property to go out and buy some of the first investment properties. once I did that, I haven’t looked back. I haven’t had a W-2 in 20 years.

because all my income’s been derived from real estate. And so I’m really just a real estate entrepreneur. I’ve done just about everything, but every kind of strategy, not always because I wanted to, because it was out of survival. So I’ve been a real estate broker for a long time. I also worked exclusively with investors. I did the whole creative financing before it was really known and we did some really tricky stuff.

John Harcar (02:15.688)
Mm-hmm.

John Harcar (02:27.72)
before it was cool.

Mike Turner (02:29.486)
Yeah, right. And it was so tricky and scary back then, but it’s, um, it was just a way to try to get into investing without funds. And I did a million things wrong because I didn’t have mentors. I just had, you know, the desire and I really didn’t have a backup plan. So I just needed to go and figure it out. Um, but it’s been a pretty wild ride. I, I had a lot of success going into 2005, six, seven, eight.

John Harcar (02:57.96)
you

Mike Turner (02:58.338)
and then just got crushed by the market. I knew there was gonna be a shift. I was positioned well on a lot of my assets, but, and I thought that was enough, but what I wasn’t expecting was like all my tenants, all my borrowers that kind of really stopped paying all at once. And that just, it was brutal. It was really, really hard. And…

John Harcar (03:16.86)
right.

Mike Turner (03:24.214)
some dark days during that time, because it wasn’t just my own stuff. It’s like I was also helping people get into investments and I saw them losing their stuff. And I tell you what, that still has scars on me. know, just like a lot of emotional scars because I, it was the opposite of everything we were working for. Like we’re just getting, yeah. So that, was a tough time. I learned, but I stayed in and I kind of crawled out and didn’t have another plan. So I just refused to fail.

John Harcar (03:30.777)
Sure. Yeah.

Mike Turner (03:53.742)
basically, but I got really gun shy about debt from that because, you know, we’re taught in real estate how to leverage, you know, debt to acquire properties, right? So, and it makes sense, right? So here’s a $300,000 property. I can’t buy it with cash. I don’t have that money, but if you can come up with 10, 15, 20,000, you can get a loan and

And so now you can make money on it, hopefully. And that does work and people have proven that model, you know, a thousand times over. But it’s also the number one thing that I’ve seen sink people’s ship. Like this is the thing that, you know, if you acquire and you grow and you start taking bigger bets and you take on more liability, when the market shifts and it does something changes, it’s the thing that I’ve seen kind of erase everybody’s wealth.

John Harcar (04:32.296)
Yeah.

Mike Turner (04:48.002)
faster than anything else. so coming out of that, I was really gun shy about it. focused a lot on my real estate brokerage and helping, you know, I had a lot of success with that. but about 2019, I decided, you know, like hurting agents around was stressing me out to the point where I’m like, okay, I, this isn’t really the life plan I’m looking for. Yeah. The real estate brokerage model was also kind of really, you know, handicapped coming out of, you know, the.

John Harcar (04:49.032)
Mm-hmm.

John Harcar (05:06.984)
You

Yeah, not fun. I’m over it a little bit.

Mike Turner (05:17.4)
the recession because, you to survive you either had to grow exponentially and charge less fees or get really small. And I wasn’t sure I wanted to do either. So I left that model and went full into back into real estate investing, which I was already in this space. I never really left it because I got in as an investor, worked primarily with investors when I had clients. And so this was my strength. So I went into fix and flip.

John Harcar (05:22.28)
Mm-hmm.

Mike Turner (05:47.182)
and started kicking butt, right? I had a good run. There was that perfect timing, right? So I’m coming in 2019, 2020, is this going to be bad? No, it’s amazing. 2021, I had the best year ever. I was like, paid off the house, all the old debts. Like, honey, I finally figured it out. Yeah. You know, and then 2022 rolls in and I’m like, it’s hard to get it properly. Lots of competition. My ad spend is tripled. I’m still struggling.

John Harcar (05:51.624)
Mmm.

John Harcar (06:01.99)
Yes, sir.

Mike Turner (06:15.928)
finally about spring 2022, I started getting leads to connect. I bought like seven or eight houses for fix and flip and didn’t, you know, then, you know, interest rates hockey stick from three to 7%. And I was like, my gosh, I’m in trouble, but I think I can do these quick. I think I can do these quick. No, you know, didn’t go quick. Yeah. And, and I basically, I paid off all of my partners and debt doing that.

John Harcar (06:26.568)
Mm-hmm.

John Harcar (06:35.272)
Nope. Never works that way.

Mike Turner (06:45.966)
but I erased all the gains that I got from 2021. And I just had to start over again. And I was just like, wow, all right. This is a sign. I’ve been doing this game for so long. I’ve actually had a lot of success. For a 10 year period, on paper I look like I’m amazing. I’ve traveled all over the world with my kids. We were averaging four months a year internationally for like a 10 year period.

John Harcar (07:12.904)
That’s awesome.

Mike Turner (07:14.604)
And my wife has written all kinds of books about it. You know, we did all kinds of awesome stuff because I leveraged the fact that I didn’t have a W-2 job and I was often working in these foreign places, but still I was able to pull that off. But I always had financial stress. My income would come up and down. I’d always had it. And I’m just trying to find a way to like solve this and

coming out of 2020 into 2022, like, man, I don’t not sure what the path is. But I know, I know it has to do with reoccurring income. And in my market, as John, know, like, like, you know, we’re both in that Boise, Idaho area is that it’s really hard to do cashflow investments in this area. It’s real estate is expensive, rents are low, at least in that kind of that

John Harcar (07:48.818)
you

Mike Turner (08:09.134)
The equation is hard to make work. You know, it’s much easier in the Midwest if you’re doing kind of cashflow investments. And so I tried it over the years and had mixed results. Usually we had appreciate high appreciation gains. So that’s where your real money came. If you’re investing in this area and that’s of course I knew was already a plateau coming out of COVID everything’s plateaued. I’m like, appreciation is not the game, you you play right now. No, no. So.

John Harcar (08:35.055)
No, no.

Mike Turner (08:38.872)
But I’m nervous about investing outside my area. I don’t have…

John Harcar (08:42.886)
Why? It’s because you don’t know the areas, you’re not familiar with that.

Mike Turner (08:45.806)
Exactly. Like I’ve been studying my market for 20 years. I know it like the back of my hand. I’m so good at making good bets locally. So I’d lose that a bit. I can still take the same skills to research the same way to do it, but I’m not on the ground. So I was always just a bit nervous about it.

John Harcar (08:49.544)
Yeah.

Mike Turner (09:09.472)
while I was kind of still contemplating what my next move was, and I was still thinking about actually doing this because I wanted to, I wanted a reoccurring income. I knew if I had that, it would get me what I wanted. It would kind of, my parents actually retired 20 years ago with pensions. And it’s not a huge one, but they both worked for the state and they got, they were teachers, they retired, they got a pension. They were in early enough where it was actually decent back then.

And they have a decent retirement life because they’re not too stressed about money. And I’m like, gosh, you know, that’s the way to go. If you can achieve that, that is really a great thing. And it’s funny that I had some kids and my friend, I have some teenagers that are still at home and their friends are over and somehow talking about what I do. And I basically said, and I’m getting to the punchline of what I figured out, but I was like, I actually figured out a way to create real estate pensions.

And they’re like pensions. What’s a pension? Yeah. They’re like that word is so like it’s being phased out of our vocabulary because it’s just so non-existent. So anyway, I, so what happened was coming in 2022, my mother-in-law comes to me and she’s like, I am looking to maybe buy a house in Boise. And I want to be near you guys. I want to be near downtown. I want to be a walking distance of a nice park. I want to be a nice area. And here’s my budget. And I was like,

John Harcar (10:10.952)
What’s a pension?

So archaic.

Mike Turner (10:38.466)
Yeah, that doesn’t exist. And then I just half jokingly said, unless you know you got like a mobile home. And she’s like, yeah, that’d be okay. I’m like, well, let me look. And so I put my same investor researcher tactics to play. I found a home that was really well priced. It’s on the MLS. And it.

Wasn’t that beat up? It was just extremely dated. It was an amazing area. It’s surrounded by half million million dollar homes, know, and Boise walking distance to the park. I checked all the boxes. I’m like, I found it. It’s by it’s up on near Crescent Rim. It’s up right by behind those big cats. There’s like a pine little park. It’s called Alpine something wheels or something. Yeah. So I’ve sold million dollar condos across the street.

John Harcar (11:14.844)
Which park, which one is it by?

John Harcar (11:21.672)
okay.

John Harcar (11:25.768)
Okay, I know the area I think you’re talking about,

John Harcar (11:30.812)
Right? I know. I wish I could buy that park and put up some high rises.

Mike Turner (11:30.828)
And I’ve looked back at this mobile home park plenty of times like too bad. That mobile home park is there. have to look at.

Yeah, yeah, exactly, exactly. So, but this is where I found it and it’s like perfect because it’s so close to downtown and everything. And she’s like, and so I bought it. just like, boom, this is it. I’m buying it because I was worried somebody else was going to grab this. And so I brought her over and I made a mistake. I showed it to her before I fixed it up. Right. And she’s like, yeah, I don’t want this. I’m like, I’m going to make this cute. I’m already fixing flipping homes. Like this is no problem. This is an easy slam dunk for

John Harcar (12:07.335)
You right.

Mike Turner (12:07.726)
And she’s like, she’s like, no, not feeling it. I, you sure? Because I’m going to make this really nice. And you know, and she’s like, yep, no, I don’t want it. And I’m like, all right, no worries. I’ll, I’ll, I’ll fix it up. I could see the comps or at least double this. So I’m fine. So I go ahead and fix it up. And I think I’m going to, buy it for 45. I think I’m going to sell it for 85 90. I ended up selling it for 130. I made over 50 K net on that property. And I was like,

John Harcar (12:31.857)
Ooh.

Mike Turner (12:36.376)
Holy mobile home. Yeah. I was just like, wow, that was that a fluke? Let’s try that again. And so I did, I found another one and I made 60 K on the next one. I was like, what is going on here? Boise, Idaho.

John Harcar (12:37.128)
Thanks for, no, you go to her, you say thanks for not moving in.

John Harcar (12:50.972)
How much are you, is there a kind of a level of rehab you like to stay under? mean, are you going full? Are you going like lipstick?

Mike Turner (12:57.826)
Well, so I, yeah, so it does vary significantly from project to project because these mobile homes have different levels of neglect. Right. And so do I have to do the roofs? Do I have to do the windows? Do I have to do HVAC? I have, you know, like what, what do I have to do this thing to rehab it? And so I’ve done, you know, of course, next to nothing to, you know, over 50 K in rehab on some of these things. And so, which seems odd since you’re for a mobile home, but

It, I often then sell it for over a hundred thousand. I’m getting it, you know, sometimes for less than 20, sometimes almost free. And so that’s been the thing. But the, by the third one that I did, cause now I’m excited, right? I’m like, all right. I was already having trouble finding projects from traditional housing. So I’m like, all right, I’m to go all in on these mobile homes. So I started looking for projects, found another one. It was a bigger one. It’s a four bedroom, bath. And, just.

It was a bigger project. got into it. I’m about 90,000 into this thing all in, but I’m selling it for 170 and it’s hard. Like the market’s cooling. And, and it was like, well, all right. And so people started asking me though, would I own or finance it? And I was like, yeah, I got too much PTSD from when I had all these foreclosures, you know, people, you know, defaults on these creative financing stuff I did back in 2007, eight and nine that all like,

John Harcar (14:21.8)
Mm-hmm.

Mike Turner (14:25.964)
You know, blew me up financially. And, and I was like, I don’t know. But then I was like, well, what does it look like to foreclose on a mobile home in a park? It’s rented property. it’s personal property. So that’s not real property. So the foreclosure laws probably don’t even apply to this. Yeah. So I’m like, well, so I, so I went to the top foreclosure attorney in town. happens to be a friend of mine. Cause I used to do a radio show and he used to come on as one of my guests. And I’m like, all right, Mark.

John Harcar (14:37.052)
Right.

John Harcar (14:41.938)
Probably not, no, that’s a good point.

Mike Turner (14:54.336)
What does this look like? Walk me through like what if I do owner finance and these things, what’s the worst case that happens? Like what, what should it, what does it look like? And he’s, he walked me through it. And it, the interesting thing was it’s, it’s true that it doesn’t apply to all the normal foreclosure laws in a state. Okay. Cause it is personal property. It mimics something much closer to an eviction. You have to, if you have the worst case scenario, you got, know, you got to take some of the court. It’s a different court. Cause it’s kind of like your.

suing for possession, know, exactly like a repo on a car. It’s exactly like repo on a car. Okay. So, so it’s like, had to go in the worst case scenario for that. It’s the same thing. And so I was like, so you said, depending on court date and blah, blah, blah. He’s like, you know, so I’m, and it’s, basically kind of a similar process to an eviction. You might get an eviction court a little bit faster. So I’m like, well, that’s not bad. What are the other things I’m not thinking of? And I said, for example, like if they stopped paying their lot rent,

John Harcar (15:25.416)
So kind of like a repo, like a repossession type of, yeah.

Okay, all right.

Mike Turner (15:52.62)
And I’m the lender on the house. Can the park come after me? You know, and I was like, he’s like, probably I’m like, Ooh, I don’t like that. He said, but you know, if they’re not paying a lot rent, they’re probably in default with your agreement. I’m like, that’s true. I of course have that as a, you know, part of my note structure with them. And, so he said,

John Harcar (16:01.202)
Yeah, about…

Mike Turner (16:18.892)
You know, so they’re going to be in Delphi and since it’s a quick process anyway, you know, if you’re taking it back, yeah, you’re going to be paying the lot rent until you resell it anyway. I’m like, all right. So I guess that’s fine. You know, I can, I can budget that and plan for that. And so I’m like, all right, let’s try it. So, and I, he showed me how to like, how do you even like, there’s no deed. So what does that look like? And he showed me that it’s like, we’re to use this. Yeah, we do that. do that. But then you cut with the note you have, like we use.

John Harcar (16:38.066)
bill of sale type of thing. that what?

Mike Turner (16:44.426)
We use something called a security agreement, which kind of securitizes that notes and you can use it. UCC filing, which basically gives you a public record. But the other cool thing is like, if you ever sold a car and you have a car loan, like you don’t hold the title. The lender holds the title. Right. And if you have, so I have a big stack of titles, big stack, and I’m holding them. I sold these properties, but I am the lender. I’m the lien holder. So I’m a public record right there on the title.

So I have that too. So they can’t sell these things because I’m holding the title. So I’m like, I like that. Okay. So anyway, I did my first one. It worked great. It was awesome. And I used my home accounting line of credit to kind of redo this. And I was like, well, this is sweet. making, I think, I think it was like 1200 a month on it. They put down 30,000. I’m like, sweet. This is a great cashflow model. Really good for this area. And I’m like, huh.

John Harcar (17:19.943)
Right?

Mike Turner (17:42.734)
Well, how many of these would I have to do to get like 15, 20K a month in passive income? I did the math, did my spreadsheets and I was like, oh, you I might have to do, you know, 40 or 50 of them, but I’m like, all right, that seems like a worthwhile goal. so, but the problem is, like, well, I would need, how am I gonna fund these, you know, because I’m not getting cashed out. So that’s when I figured out, and I’m already debt shy, as I told you, I was a little debt shy coming out.

of that, so, but I, I knew a lot of investors in town. I’m like, well, Hey, who wants to make a good cashflow investment? And so basically what I did is I said, Hey, if you come in at a hundred thousand dollars, you’re going to get, I think the, I think their total payment was like 1600 a month. So was like, all right, you’re going to get, a thousand, you get a thousand dollars a month of that. I’ll get six, the remaining 600. We all win, right? You’re getting 12 % of your money and.

John Harcar (18:31.144)
16 % return.

Mike Turner (18:40.19)
I get $600, but I get completely cashed out so I can go out and do another one. And so I was like, sweet. I like that. And so I found that. And so that’s when I was like, wow, cool. And I went out and did that 24 more times. And where I’m at now, so I’m, halfway to my goal of my real estate pension because I have 24, you know, cashflow assets. They’re all passive because I’m the bank. No repairs, no maintenance, no nothing. Right. And

John Harcar (19:05.905)
Yeah, okay, yeah.

Mike Turner (19:09.422)
So I’m the bank and I have no debt and I have zero money invested personally. Okay. And it’s pulling in $7,500 a month, which is basically 90,000 a year and passive done that in two years. And so I’m on track, you know, to get to be about 15,000 or more locally, personally, just from that pension. And so.

John Harcar (19:23.368)
Nice.

Mike Turner (19:35.904)
When I got about 20 of these things, was like, holy cow, this is a really cool model. And it’s not that hard. And it’s easy to find. There’s lots of motivated sellers in manufactured home spaces and these parks that all investors are ignoring. So the reason why there’s motivated sellers, because most of them don’t have loans on them. And then what happens is that they eventually have some sort of financial issue.

John Harcar (19:40.796)
Yeah.

John Harcar (19:54.248)
because it’s not real property. It’s not, because…

John Harcar (19:59.323)
Right.

Mike Turner (20:04.782)
and they struggle to pay lot rent and the parks do what’s basically a fast foreclosure on them. If you are even just a few days late, you get a three day notice, right? You’re late and you’re, you know, pay or get out. Now you can take your house out of here, but that’s a 10 to $15,000 maneuver if you even have a place that you can put it.

John Harcar (20:18.28)
You’re right.

John Harcar (20:23.053)
No. If you have money to do that, just pay your damn lot rent.

Mike Turner (20:27.758)
So what happens is that people just end up losing the house to the park. That’s what happens. And so there’s a lot of motivated sellers in this space. So that even if they normally would be able to sell for 30, 40,000, they’re like, they’re about to lose everything. And sometimes they’re like, Hey, if you can give me 10, I’ll be amazing. And I’d be like, all right, I can do that. And so that happens a lot, you know? And so there’s a lot of motivated sellers. And then here’s the beauty of it. Of the 24 properties that I have to date, I’ve had to foreclose

John Harcar (20:30.681)
Mm-hmm. Right.

Mike Turner (20:56.97)
on zero of them. And, that was not just that John, it’s that I’ll, I’ll likely never have to. I’ve had to replace three. Okay. And the reason why this happens is because the thing that most investors fear, you know, and the banks fear is this lot rent situation, park management, banks don’t like being second position to them. Right. And investors are like, I don’t know if I want to deal with this.

John Harcar (20:58.3)
That’s awesome. That’s good vetting of your people.

Mike Turner (21:27.096)
But it’s the best thing because before my payments even do, I treat mine more like a mortgage, like to do on the 10th or 12th. You know, I give them a little bit more extra leeway, but before my payments even do, if they’re late on their lot rent, they’re getting pressure, you know, and if they’re struggling. And so what happens is, is that they get these notices from the, the park and they’re like, what do we do? And I’m like, you got to figure this out because

So now I get to come in as an advocate, not as the landlord, not as the bank, but as an advocate and say, here’s what your options are. Because what’s going to happen is that the park is that they’re going to, they’re going to file an eviction on you. That’s their process. That’s their legal means that they have to take in order to potentially get you out of here from not making your lot rent. And as soon as they file that you’re screwed because eventually if you go try to find an apartment, a house.

John Harcar (22:21.629)
Yeah.

Mike Turner (22:25.29)
anywhere you want to live for the next decade with that infection on your record, you’re screwed. You’re going to be living in an RV, best case, right? Or living with family. So it was really detrimental. You can’t let that happen. Okay. So that’s the leverage point. I said, so here’s what you’re going to do. You either figure this out, go get a roommate, go do this, go find it, borrow from family, figure out a way to not let that happen. Or we can stop it from happening. We can come in.

John Harcar (22:29.032)
You’re screwed.

John Harcar (22:40.744)
Yes, awesome.

Mike Turner (22:54.702)
and we can take over the lot rent. But for us to do that, we got to take the house back. And if you take it back and it’s okay, it’s not beat up and all this stuff, we’ll erase all this debt to you. Cause we don’t want to take a bad situation and make it worse. We can help you avoid this worst case scenario. I’m the good guy. I get to come in and help them. because they’re the, Park’s the bad guy.

John Harcar (23:10.182)
make it worse yet.

John Harcar (23:16.808)
That’s awesome.

Yeah.

Mike Turner (23:20.75)
I’m the good guy. And so it’s nice. I’m always in this good guy position. I love that, by the way, I used to do property management and I hated it. right. So, yeah, yeah. So I, this is how I do it. So this is how, and so this is a really cool model and it’s, and it’s great. I’m averaging 12 % returns on the loans that we do. And think about it. It’s so much better in a bank, a bank to do a hundred thousand dollar loan to somebody, even if it’s at 12%, which is the

John Harcar (23:25.16)
Yeah, you’re always a bad guy in that situation for sure.

John Harcar (23:35.93)
I love it, dude. I think it’s rad.

Mike Turner (23:49.71)
You know, usually it’s less, but let’s say it’s 12%. They got a risk a hundred thousand, but since I’m fixing flipping it, I might be in it for easy math, acquire it for 25, put 25 into it. Now I’m in it for 50, but I’m doing a loan for 12 % at a hundred thousand. So I’m really making an actual cash on cash return of 24%. Yeah. So I bring, so then my maneuver is, like, okay, I got this note, this asset, this cashflow thing.

John Harcar (24:11.592)
24%, yeah.

Mike Turner (24:19.054)
scheduled to pay out for the next 30 years. And I bring in an investor. like, who wants to make 12 % on their money? And I find somebody and they’re like, all right, come in at 50,000. And then you will get, you know, $500 a month. I’m making $1,000 a month on this. You’ll get $500. It’s all done. There’s no, there’s no taxes. There’s no fees. There’s no, there’s no nothing. You just get to come in and own this. If there’s ever a problem, I’m here. I still, you know, an equity partner.

John Harcar (24:42.258)
Yeah.

Mike Turner (24:48.544)
I’m going to deal with it. There’s no cost to you. I’m the part, I’m the active partner. You’re the passive partner. And, and then, you know, it’s super clean and easy. And so I have some investors who are doing this and they’re doing this through the Roth IRAs. They’re making 12 % on the note. And then of the returns that they get, they’re not needing the cash flow because they’re still high W2 earners or whatever. And, and now they’re reinvesting. So now they’re making over 20 % on it and it’s all tax free. Yeah. Yeah.

John Harcar (25:08.572)
Right.

John Harcar (25:14.152)
It sounds like a win-win for everybody. Real quick, one question I wanted to ask about running out of time here. So let’s say one of these lenders, I don’t know how you structure it, but let’s say in a couple years they need that money back. Would you just go find another lender to replace? Is that kind of what you’re, yeah.

Mike Turner (25:25.454)
Yeah, great. Yeah. Yeah. Because that’s the thing with me is like, I know I’ve seen all the syndicate stuff and all these things that people invest their money in and that can be good. But it’s like, here, your mind is locked up for three years. You don’t get any of it until that three year period. And I, as an investor, I don’t, need more flexibility. Yeah. And so, so I like getting returns monthly. So I like getting it back monthly. And so what I do for them is no, there’s no required holding period.

John Harcar (25:35.783)
Right.

John Harcar (25:43.44)
Yeah, I don’t want to wait for that money.

Mike Turner (25:53.844)
If in six months or six years, you’re like, Mike, I just need the money. had this issue or had another opportunity. Fine. I basically, the way I set it up is like, both own this note. And it’s like, all right, you have 50 shares of the note and I have 50 shares of the note. So I guess you can sell that at any time. So do you know anybody else who wants to make 12 % on their money? And if you don’t, I do. And so we just swap you out. It’s really easy. I’ve done that quite a few times now because people are like, need their access to their money.

John Harcar (26:13.576)
Yeah, I do. Yeah.

Mike Turner (26:21.816)
And so it’s not, they’re not, it’s not stuck.

John Harcar (26:24.424)
I love the model, dude. I think we can talk about this for another 35 minutes at least. If folks that are listening like it as much as I do, man, how do they get in touch with you to reach out and maybe talk to you about it, maybe invest with you?

Mike Turner (26:36.076)
Yeah. So a couple of cool things is like, have a personal website where I share some of these details and it’s just Mike Turner dot life. Okay. And then I have a free community where I actually just show you how to do this. I just give it away. All right. So it’s on, it’s hosted on school, but you can get there real easily by going to H as a mobile home, investing.com. And so.

It’s a great little resource for you to go there and just see more about what I’m talking about here. And because it’s, it’s, it’s really easy. And, know, I’m really enjoying helping other people build their pensions too. So I have a whole community now. We’re all kind of like working on this and checking in and, doing it. And it’s, it’s really a great. It’s another thing about John too, is that I’ve done a lot of real estate over the years.

John Harcar (27:08.466)
sounds.

Mike Turner (27:28.654)
And what I really love about this model, not only is it for me personally, financially, what it’s solving, but we’re really kind of making an impact in the community with this affordable housing thing, because the most affordable housing in your marketplace is these mobile homes inside these parks. The problem is people can’t access them because they don’t have cash. And so we just help solve that problem.

And we just do basically a seller financing thing. thing that’s not that foreign. It’s a pretty easy maneuver, but you got, you know, there’s some nuances. Yeah. Yeah.

John Harcar (28:02.344)
You gotta structure it and it all the right way. And sounds like you got it dialed, man. I’m gonna definitely check that out. I’m gonna take you out for coffee or something here very soon. I appreciate it. We’ll put all your stuff in the notes as far as how they can get a hold of you in the show notes. Guys, reach out, man. Reach out. I thank you guys for coming on or watching the show. you guys have a good day. And I’ll talk to you all later. Bye, guys.

Mike Turner (28:11.246)
Okay.

Mike Turner (28:28.622)
Thanks, John. Appreciate it.