Recipe for a $250K/month Business

[00:00:00] Mike: Hey everybody. Welcome back to the show. I’m really excited to have my friend Roy were good friends for a long time. He’s a member of investor fuel and, uh, he’s doing a lot of deals, a lot of high profit deals, and he’s monetizing a lot of his deals in some unique ways. Sometimes a lot of our deals, uh, lead.

You might be passing on. Really. Can’t be monetized if you get a little bit creative and that’s what we’re gonna talk about today.

professional real estate investors know that it’s not really about the real estate. That real estate is just a vehicle to freedom. A group of over a hundred of a nation’s leading real estate investors from across the country. Meet several times a year at the investor fuel real estate mastermind to share ideas on how to strengthen each other’s businesses, but also to come together as friends.

And builds more fulfilling lives for all of those around us on today’s show, we’re going to continue our conversation of fueling our businesses and [00:01:00] our lives.

I’m glad you’re here.

Hey Roy. Welcome to the show, buddy.

Roy: Hey, Mike. Good.

Mike: Glad to have you here. My friend send me a thanks for having me on. I have you and I have been friends for a long time. I don’t even know how long, probably 10, 10 years or something. I, there’s not very many people. I’ve been friends with for a long time that haven’t been on one of my podcasts and we were just talking and I was so certain that you’ve been on before, but this is a, this is the first time.

Yeah, this is

Roy: definitely a first time I’ve been trying to avoid it.

Mike: Oh, you’re just a little afraid of the camera, which there’s no reason for you. You’re a rockstar, my friend. So, um, so Hey, excited to have you here. We’re going to talk about how to monetize more deals. I know you’ve added some kind of creative tools and stuff to your tool belt over the last couple of years and maybe a that you weren’t using before.

And probably a lot of other folks might not be using. But before we jump into that, maybe [00:02:00] tell everybody a little bit about your, your background and how you. Found your way into real estate. I see you. You’re one of those guys. That’s a serial entrepreneur has all kinds of different businesses. Sometimes we joke about it, but I’m just talking about maybe a little bit about how you got started in real estate.

Roy: That’s funny, you call me a monopoly guys. I love it. Not anymore. Uh, but actually, uh, I started reading the state in 2001, right about 2000, 2001. So I started into residential. Then I went back to commercial. I bought and sold a lot of businesses. Uh, bought a lot of commercial that I’m going to do retail. I will start getting into a convenience store business that I had about 14 of them.

Then I really felt like I lost my heart in it. I had a residential business, like when I was building a little bit of rental portfolio and felt like I enjoy this. When I turned these properties into. Really beautiful after they get done. And then that’s how I start. So like, you know what, let me just start selling this retail.

I’m done with this. Everybody [00:03:00] who felt like stealing from me. Um, and I got out of there and then start doing flips and wholesale and. We’ve been doing buy and hold. Uh, I think 2007 and eight, I that’s where I took my kind of next level on real estate. We were buying 25, 30 cents on a dollar. And that’s where we expanded our rental portfolio for about, I’ll say we had about seven or eight and then I took it to 90.

Um, that, so that’s something we then keep increasing slowly. Um, other than that, like I think we. Um, right at about 2009, I built a small team. Then I got distracted and stopped building businesses again, shiny object syndrome. And like, then I built about eight, seven or eight businesses. Went back and realized this is not what I want to do.

Then I liquidated most of them back to back to residential. And now we, from last two, three years ago, I [00:04:00] joined and met you that I bought the investor of you. And I think I was literally given up that time, like, man, this is I’m tired of it. I’m don’t want to do it. And. I remember you made the comment. Why not just leave it, just do what other things working for you get back into retail.

It’s like, man, I don’t want to be failure. And here we’ve had the team of almost 15 people in last three years and I give some of the credit to invest a fuel on that, um, that just giving motivation and seeing how others doing it. Uh, you. Well, he’s been a great friend and, you know, kind of helpful on that part.

Now we do about a quarter million a month. That’s where we at and we are increasing it this year. We actually, we are doing more. Um, but we were given, I’ve been doing a lot of these deals before, as far as creative finance owner finance, um, and, but never took it very seriously about it. Never kind of made that into a business as a tool.

Right. But now all of these since last year, I think it just [00:05:00] took our business definitely to the next level. Yeah.

Mike: Well, let’s talk about, let’s talk about these and we’ll kind of dive into each one, some of the main ones you’re doing, and I know one of the things that you’ve done, we’ll talk about some creative finance techniques and creative deals is that, um, you brought.

You kind of brought up, you have, you have a brokerage now, right? Or, or you’re just under a broker. I can’t remember under a brokerage here, but you’ve started doing a lot more of your own listings and, um, you know, a lot of, a lot of investors in me included, like I just didn’t want to fool with it. Cause I didn’t think it was that big of an opportunity, but you turned it into a pretty significant opportunity by listing your own houses and turning some deals that you can’t do anything else within the listings.

Right.

Roy: Correct. I mean, this was one of the revenue stream that we were at totally ignoring it. That’s the leads. We can’t convert people. So the first thing is what is our business? And that’s how we look at it is they want to sell. And we can make it happen. [00:06:00] Right? So it doesn’t matter which avenue they want.

We will provide the tool for it. So they’re saying we want to retail and we say, okay, that’s not for us. And all we just shifted on mine is like, okay, they want to, they want to retail. It let’s list it for them. And if anybody’s offering them 3%, unless it’s a $300,000 house, that’s $9,000 putting a property just on the MLS.

That’d be just start giving them discount. Let’s say, if you do have any agent, who’s given you, whatever the percentage we give them a thousand to 2000, 3000, whatever, it doesn’t matter. We, we make gig, make them comfortable that there is some discount going with us. Yeah. And all those leads start turning into a listing.

So that’s where we kind of. It, it kind of paid almost 35 to 40% of our marketing last year. And our marketing was pretty big.

Mike: I’m glad you said that because that’s what I think a lot of people, um, need to think about it. If you want to do this now, if you’re a one man band or one woman show like you, you know, you gotta be careful, you don’t get spread too thin, but [00:07:00] instead of looking at it as like a revenue source, like look at it as a it’s reducing your expense.

So if you were to take that money, It costs you money to generate that lead that you might list. Right? And so what if you just said, well, Hey, a by-product of this is we can make some money on and plow that back into marketing and it helps offset that cost. And so, you know, let’s, let’s just say that, uh, I don’t know exactly what your advertising budget is now, but if that could feed you 150, $200,000 a year in additional revenue, and you could plow that back into your advertising, what’s the value of the deals you would get from that, right.

Roy: I mean, if you look at it, what is Ottawa and I’m marketing, it was for last year was roughly about seven times. Yeah. So someone’s eight times, you know, like that, that was pretty big. So imagine if you put 150, $200,000 back in, that’s the $1.4 million fee, right? So, and that’s something you cannot ignore.

And it’s huge because we, if you look in at 15% or 20% of the [00:08:00] marketing budget every month on your total revenue, I mean, that’s, that’s big number four, which is going to be net net in your pocket. If you don’t take it back home, at least put it back in your marketing ads, revenue generation. If you look at the right way, Yep.

Mike: So let’s talk a little bit about, uh, owner financing and, and, um, and specifically owners, sellers financing you, and you’ve done a really good job of convincing people that, you know, maybe even paying them more money in some instance that instead of a cash buy, um, they can finance it to you. What kind of let’s keep us up to is a little bit separate from that, but how do you identify somebody that might be willing to own or finance you?

Um, and how do you even. Start that conversation. How do you know to bring that up? So the first thing I

Roy: see, I see the property enough money and a faculty in the deal. Right. And if they have an effect, when we have done two ways, we have done owner finance while it’s up to as well. So [00:09:00] we will merge the both things and data, holding the note.

While we have an, a mortgage balance we have done there, we see the properties paid off and we want to just go ahead and turn into. I wonder if finance by just asking what you, what you plan with the money. If they don’t have any plan for the whole amount, what they’re getting, we want to use that money towards our business.

That way we can hold the property, we can fix the property and sell it and offer, uh, our sellers almost. You know, five to 10 grand extra on their deal. I mean, his easy that we not paying any points, we’re not paying any money. I mean, you just getting money from the seller, they happy because now they’ve got extra five grand out of it.

Right? I mean, last

Mike: year, the typical seller is a lot of money, right? For sure. I mean, $5,000 is $5,000. I’m not saying it’s not a lot of money, but for sellers that aren’t walking away with a lot of money, sometimes like that $5,000 is, is a big deal. Kimmy.

Roy: It is because a lot of time you ask them, Hey, what is your next like the way I was telling you earlier that we [00:10:00] just got a deal that we picked up for one 51, my acquisition lock it for one 51 stating this is going to be straight cash deal here.

I see they have no mortgage. I go and meet the seller as a inspection. Um, excuse and I go back and I talk to them as like, what is what you guys are planning, what you’re doing. And they shared with me, like, you know, and I asked them, what is your biggest expense while you moving? They said, my moving is $5,000.

So like, what if it’s paid by us? It’s said, how is that possible? I said, we can do it. If we don’t have to pay you all up front, it’ll just save us money. We’ll help you guys as like, wow, we be stressing out about putting that 5,000 just towards the movie. And here we got a deal for one 51. We retail it for four or five.

Um, and by just $5,000, giving them extra folk upfront, and this came into our office, we signed a contract, we changed the contract to owner finance and we all, we just did it, add them to it and kept the same contract. So we never change our contract. We [00:11:00] just changed the denims and we just added them to it.

And hand him a five grand. They were super excited. They were like, you know, was like, we would love to give you a testimonial once we get a final money. Yeah.

Mike: So tell me about this. Cause this is a challenge for a lot of folks. If you have acquisitions, uh, agents or managers that are going out, buying deals for you, how do you, in that instance, you got it under contract for a cash on amount to pay cash.

And then you went back and kind of renegotiated to pay them more, which is, you know, the opposite of what a lot of people, when they renegotiate you. But do you give your acquisition managers like authority to get creative? That’s one of the challenges I’ve always had. I know a lot of people do is how do you allow effectively your sales people to get creative on stuff when it might not be the best decision for you?

Because it’s like a case by case basis, right there. Someone says you, you would have preferred to get that for cash. Uh, sometimes they may have missed a deal, um, that they could have used creative finance on. So how do you balance [00:12:00] that? Giving them the flexibility to have those tools and make the best decisions on your behalf?

Roy: I just actually got a call from acquisition right before talking to you. And so they know if this doesn’t fit in our cash buy model, it is going, so the mindset, it’s all about mindset as you know, right. So end of the day, when you make your acquisition mindset saying, Hey, do you want to convert this deal?

Right? You say, yes, whatever it takes, we have lot of different options. We can do that. So if it doesn’t fit into cash, buy. W what we’re going to do. We, do you want to let it go? They said, no, of course I want to close the deal. Okay. Then, then these are the options we have for the seller and try to offer them these two options.

If they are not meeting like yesterday, we had somebody who was looking for two 80 and then they only owe one 35. So. We made the deal by saying, we’re going to give you $5,000 upfront. And then the two 70, actually two 85 and the two [00:13:00] 80 will be getting after we sell the property. So they holding a one 35 and my acquisitions super excited that he can make the deal because now we given them an extra $20,000 because we don’t have buying costs, holding costs.

We probably going to put it into a novation agreement. That was my plan on that one. So you put it on novation and now you don’t have a lot of closing costs. Buying costs, holding costs. And all goes back to the seller and you still have a right to sell the property because every dollar you don’t want to put a dollar you in 90 property, you don’t have any rights to it.

Right. Right. And we definitely do title searches. We do all our due diligence to make sure we’re not going to get burned ourselves later

Mike: on some other expense lurking out there that you didn’t know about.

Roy: Yeah. It’s in our contract that all that money will change hand after doing the basics, our due diligence, all our basic inspection, because if my acquisition is something I want to make sure we are covered.

Mike: Yeah. And, and I guess where this comes down to like, Setting the [00:14:00] expectation with a seller that we want to help you. We don’t know exactly how we can help you yet, but if you do a good job of building rapport and you come back with like a plan B or a plan C, they’re probably more open to having those conversations because they trust that you’re trying to find some way to help them get rid of the property.

Right.

Roy: I think it’s all about, I’d tell everybody, Hey, it’s a, it’s a report report, report report, bottom line that’s what’s. If they trust you, they’re going to go with you. And then you give them any, that first option doesn’t work. They will go with the second or third because they like you. They want to do business with you.

And the, I think the one big thing we have is that always worked for us as our, our credibility kit in a way that actually shows who we are. What can we do? We have a local office, we have a sign outside on our office that that’s really kind of people start believing they are locally. They can come to our office, they can meet our team anytime six days a week, then knock on a door.

Somebody will be here. Right. Um, I think the credibility kit is something we don’t, I don’t really [00:15:00] put a lot of mind to it, but it definitely work. And yeah. And I always tell people like, send it before your appointment and, and build that trust, build that report. They will go with those options and give you some to create a finance because now they know.

Then these people are not going to disappear

Mike: without money. Right, right. Awesome. So let’s talk a little bit about one of the things that you can do in your market. That a lot of markets can’t, I don’t want to tell people to give you kind of legal advice here, but you’re able to assign stuff on the MLS.

So you, uh, you get a deal on a contract and you can effectively, before you close on it, mark you on the MLS. Right.

Roy: I think since we change that and start putting on MLS, we were putting partial deal on MLS. And it’s funny that I never told you, but that’s something you mentioned it. And one of the meetings with me and he said, Hey, we throw everything on MLS something, or somebody put something you made a comment about throwing on MLS makes more money.

It’s like, yes. Then we [00:16:00] did the numbers, came back from the investor fuel. And I was like, yeah, if I look back on all the deals that we put on an MLS, it was always a higher dollar. And that changed, I think about eight to $9,000 average deal throughout the whole cross the board in a whole business.

Mike: That’s an additional eight or 9,000,

Roy: an additional eight to nine average deal change.

What was

Mike: my royalty on his back and say,

and now that’s what, that’s what we’re all about. Right? It’s sometimes you can do some really little,

Roy: little nugget change,

Mike: the whole business model. Yeah. Yeah. What I said is we don’t assign things on the MLS here, but you know, many years back, I just got tired of it. Just the drama with assignments and I had access to capital, or we had, you know, we had access to capital to take pretty much any meal down.

So it was just so much easier because in the DFW area, the market is on fire right now. I’ll be honest in 2008 and nine, the market was down, but we still sold our houses. They were never on the MLS for more than a [00:17:00] week, just because we positioned it that way. We like either price wise or quality wise. We were always like next in line, you know?

And so once I kind of took that out and then it’s like, okay, well, I can just pull tail on the MLS or wholesale on the MLS. And you and I have a common friend that won’t say any names here that used to do these like neighborhood campaigns, where they like have a carnival in the neighborhood and try to bring in people to pay, basically pay retail price for a wholesale deal, because you’re not going after the professional investor you’re going after, you know, somebody that might want to fix it up themselves or be willing to do the work.

And then we did that for a while and it was so much effort. Like, I don’t want to, yeah. I don’t want to have a carnival have sign spinners and a bunch of balloons is up at a house on a weekend. Like I wanna enjoy my life. And I was like, why don’t we just put it on the MLS? And so we just started putting everything on the MLS.

And, uh, you know, it’s just attracted the type of investor that we didn’t have on our list. And somebody that was willing to pay more and we have some additional holding costs, but it more than offset [00:18:00] that easily. And so we’re like, okay, this is the

Roy: way, no doubt about that. I mean, we actually selling our assignments.

I mean, as that’s what used to set up on MLS, so everything as long as done, right. And you tell everything true to your seller, like everything is whatever you’re selling is no lies, no games. Right. I mean, it’s easy. You can do it. Yes. It’s more work. But I think for, especially for a lot of our investors, like, doesn’t have a lot of capital lined up.

I mean, you can’t beat it. Oh, it’s the

Mike: best of both worlds. You’re you’re getting a higher sales price and you don’t have those additional holding costs. Yeah. If you can do it. Yeah. So check with your local board of realtors or whatever that is. I know some areas it’s like, absolutely not. In some areas, it’s a gray area in some areas.

So like as long as the seller knows everything, I mean, I think sometimes. Don’t take legal advice from you guys, but sometimes, uh, you can also do it if you just get a listing agreement as well. Um, and you kind of have in your contract that you have the right to list it on the MLS. So everywhere is a little bit

Roy: different.

Yeah. Our contracts state that [00:19:00] actually in the marketing clause, it states that we will be listing on MLS. We have a right to market, every avenue we want to, and we tell the sellers upfront, Hey, we want to see how fast we can move this property. You know, we’re not going to buy and live in it. So we will market this property just to see what kind of response we get.

Right. And they understand that and we will make sure, like we stated out listings, the showings is only by appointment. Do not go knock on the doors or anything. We, and if we tell them, we let the seller know, if you find somebody come in. Or they just directly tell them, they call us. Right. Our TC is pretty strong to stay in touch right away.

They stay on, on the whole game the entire time. So she good

Mike: at it. Yep. Yep. Awesome. And so are you doing anything differently? We talked a little bit about, you know, owner financing to you and sometimes it’s, uh, it’s, it’s a sub two, plus the owner’s financing like a, a second lien or whatever. Do you do anything different?

With sub twos. Um, I mean, [00:20:00] I think one of the benefits, obviously right now is that, uh, there’s a ton of mortgages out there with super low interest rates that if you can buy the house up to you, you can benefit from, so is there anything you do differently with sub twos that’s kind of unique or that you do differently than what maybe the way you used to do it?

Roy: I think right now, the sub two, we just basically do the very simple way. That way my office doesn’t I used to do so many different ways. And when I see I have a team and people, you gotta keep it simple for them. So we made it very simple. Hey, we just taken over the mortgage. You’ll make the payment. Where are we?

See the deal is tight. We make the seller, make the payment and go house is sold. But other than that, and we try to see if we can just take or make the payments for the seller until it’s sold. We do. You know, fix it up and sell it. We don’t really, we have few that sub two deals that we are putting on our rental portfolio, but then we try to do it within a 12 months time and refi and let them sell a release out of [00:21:00] it.

Mike: I see. You don’t have anything. I think you do a lot more of is, uh, a lot of folks do sub twos and they keep it as a rental or they wrap it and owner finance it. And you’re doing a lot more just using that opportunity to rehab it and resell it. And so it’s really just for a few, few short months, I guess I’ll say three

Roy: months to 12 months is our max

Mike: up to that’s

Roy: what we do, but I know there’s a lot of people who rap that they, a lot of new owner finance.

There’s so many different ways. I mean, you can do as many things you want, but it’s only if you don’t want a small operation and that’s what you want to do. And you’re involved with every little deal than yourself.

Mike: Right. If you have acquisition team, you have disposition team, you have a whole staff, they will be all mixed up

Roy: in this.

And it’s

Mike: the chaos, the challenge. Yeah. Yeah. Awesome. Well, Roy, uh, I’ve always appreciated you, my friend, you you’ve, uh, you’ve always been, I want to say loyal. I don’t, I mean, I appreciate your loyalty. You’ve always, uh, been, uh, you know, always had kind things to say about us and what we do, and you’ve been an amazing member of [00:22:00] investor fuel.

I think you’ve been in w we’re coming up on four years now. I think you were in after like the second or third meeting. So was the second meeting. Yeah. So, so it’s been, I mean a three and a half years anyway. And so, um, would you mind, I mean, you’ve seen us change a lot during that time. I’ve seen you change a lot during that time, that early on in this show that you owe a lot of it to invest refuel.

I mean, I appreciate the kind words, uh, but you’ve obviously done a lot of hard work and a lot of work on yourself too, to be able to bring on a team. And I know you used to. Take on almost all this stuff yourself. And so you’ve really grown as a business owner as well, but would you mind just kind of sharing your experience and investor fuel and how it’s maybe benefited you?

I think investor

Roy: fuel is more, what it gave me is opened my mind a little bit towards making this into a business. Always run this as five businesses and real estate is on a side gig for me. Yes, I made ton of money. I’ve been very successful in all my career in real estate, but investing people, what it did is actually opening my mind [00:23:00] and let the other businesses go and turn this into a true business.

Like since I got invested, I bought an office building like that was never been a plan that is actually, we have a sign outside, say American past home buyers. We have a logo, we have things. We have brand that we are building right now. And I think I give a lot of this credit to invest with you. And uh, to, to of course, I mean, I don’t say the nice thing because I like mine.

I say, because you really provide all this value. I mean, it is, uh, we, this is a very lonely business. That’s another big thing I see. I mean, I can’t go and say to people, Hey, I did this this month and invest in people I can. And I feel like other people cherish and be happy about you because. They motivate them and then they motivate me.

So I it’s all hands on hand and then never be, feel down. I have somewhere to go to cry, you know, because then when I’m feeling good about it, I have somewhere to go and brag about it. [00:24:00] I think otherwise I can’t do with my local friends because this is not normal, you know, business. And another thing that the nurse gave me shattered, it must be, you know, she’s

Mike: helping a lot.

I mean, Uh, she turned this into a two company for me because I’m not a people person

Roy: in a way. Uh, I’m a like, Hey, get the job done, get out of my way. So she’s kind of have that thread there, all the pearls that you bring it in. I’ve seen that just, you know, she

Mike: sleep in them. Yeah. Thank you. I appreciate that.

Yeah. One of the things I want to point out, you said, if I’m down, I can go kind of cry somewhere. I know you’re using that figuratively, but I mean, I’ll say this is that. Um, I think one of the things that we’re different than some other groups that are out there, I’m not going to bash on the other groups, but we have a place for people to kind of get vulnerable.

And be real, right. I think some of the other groups, that’s more ego-driven you would never admit if you’re having a bad month or a bad year or a bad relationship, or anywhere here, people like open up more. Right. And they share more of what’s going on and it’s because let’s face it. We’re [00:25:00] all in this business to build a better life.

And if your life is, is not stable right now, like we need to talk about that because. You know, the business doesn’t work without the lifestyle side and being real. Right.

Roy: I agree because you, actually, one thing I noticed is this whole three years, I built some of the friends. They like lifetime Jason, Todd, you know, Blake.

There’s so many different people that I hang out with and I talk to them all the time. It’s like, Uh, Jerry, he’s like, you know, there’s so many I can go on and on so many people that he feel like your big, best friends, because they think the same way they talk the same game. And that’s what it’s all about.

Yeah.

Mike: You can’t, I mean, I’ll say this. I have one of my very best friends outside of real estate. Somebody that I was, uh, was in college with, we got together a couple of weeks back and he would never said he has a, I’m not, if this guy is listening. I don’t, I’m not saying anything bad about him at all.

Other than he has a regular job. And I was like, how many. So we talked about, you know, we’re going to Cabo, I’m taking like 20 investor field people to Cabo. I said, why don’t you come with us? [00:26:00] I mean, you don’t know one of these people, but you’re my friend and you, these are my friends. And so he’s like, oh, I only get, you know, you only get two weeks of vacation a year and they can’t just like, take off.

Like we must maybe can, you know, and you would never sit there with your neighbors and say, Hey, I’m doing something for 2000 a month in revenue and have those conversations. I mean, like you said, it’s kind of a lonely world outside of. Our circle because you, you don’t sit down to your neighbors and talk about that type of stuff, but it would seem like you’re bragging and just, yeah, it’s just, you’re just talking about what you do, but you can’t have those conversations with neighbors and family, friends, or your kids, friends, parents, and you know, all those things.

So, um, that’s the, one of the benefits I think of our group is we can have real conversations about what’s going on and how do we improve? And. All

Roy: those things. So that’s more like family, you know, like you go, you look forward for it. You know, you, you meet everybody, you, you feel the warmness, you feel like everybody’s here for each other.

You ask anybody anything. They open up to you. They’re not ignoring you. It’s [00:27:00] not, I mean, this is the one thing you find in this group that you, you reach out to anybody. They’re not going to brush you off. They, they will give their time and make sure that you get, we’ll tell you, Hey, if you need more, let me know.

I’ll email you this. I mean, anytime you have a challenge, And you have a question you want to know, Hey, anybody know this. If they really know you’ve got to answer from one, not two, not three. You got sentences of people who jumped right on and give you answer of your challenge that you’re facing in your business.

Right? What else? You will find that.

Mike: Yep. Yep. Uh, Roy, I appreciate all the kind words. My friend, we can brag about investor fuel all day long.

Roy: I agree. Hey, uh, maybe I need a couple of drinks I’ll do better.

Mike: Uh, would, uh, how do folks want to connect with you if they’re in? Um, if they’re in your, you know, your market, if they want to connect you any way, where, where can they connect?

How should they, how should they reach out to

Roy: you? They can reach me on my email, which is Roy dot home buyers. With [00:28:00] [email protected] and assaults assaulted Roy dot  dot com.

Mike: That’s two. Okay, awesome. Uh, that’s great. We’ll we’ll add a link down below the, in the show notes here. So Roy, great to see you, my friend.

Thanks for sharing some time with us today.

Roy: Thank you, Mike, this is my first podcast. I’ll remember for life. Yeah.

Mike: Yeah, we’ll get you. We’ll get you out some more. Um, awesome. And everybody, Hey, thanks for joining us. I hope you got some value out of this. If you’re, if you’re not trying to find, you know, right now lead generation is hard.

Finding good deals is hard. When you do find them, they tend to be more profitable than ever. And also if you use some of the strategies that Roy talked about today, in terms of whether it’s creative finance or turning, turning deals into listings, if you have to. Uh, to kind of offset your costs there.

Those are the types of things you need to be doing in this market to be a little more scrappy. The market will shift eventually, but this is how you kind of not just survive, but thrive in a market like we’re in today. So appreciate you guys a bunch. If you haven’t yet checked out investor fuel, I encourage you to go to investor people.com.

Learn a little bit more about our mastermind. See if you might be a fit. We have several different groups, including [00:29:00] now commercial groups, where we work with, uh, commercial real estate investors, apartment. Investors, uh, as well. And that’s through a partnership with my friend Corey Peterson. So a good investor, fuel.com.

You can learn more if it looks like it’s a fit. We’d love to jump on the phone with you and answer some of your questions. So everybody have a great day. Thanks for spending time with us today. We’ll see you.

Are you an active real estate investor? If so, and you want to latch onto the power of surrounding yourself with over a hundred of the nation’s leading real estate investors. All committed to building stronger businesses and living richer fuller lives. You should jump on a call with us to learn more about Investor Fuel. Simply visit investor fuel.com to get started.