How Smart Real Estate Investors Find Hidden Deal Opportunities Everywhere in Any Market Cycle

Nicholas Tortorelli (00:00)
My father was a general contractor and he built homes. ⁓ so as a little kid, I I saw how houses were built, either with the you know, a perimeter foundation or a slab. So in our area, we on the central coast, we have a lot of sandy soil, and a lot of the homes were built with with ⁓ concrete perimeter and then post and pier. So they’ll they’ll have maybe ⁓ block wall.

And a footing poured around the perimeter of the house. And then there’ll be these ⁓ 12 by 12 inch or one by one foot ⁓ concrete piers with a wood post on top. Now, now because it’s so sandy and you might have earthquakes and just movement, those posts can get ⁓ you know, they’ll sink down into the sand

Cody Crabb (02:20)
Hello and welcome back to the Real Estate Pros podcast by Investor Fuel. I’m your host, Cody Crabb and today I’ve got Nick Tortorelli with me. Nick’s on the central coast in California and he’s got a mix of brokerage, lending, rentals, and fix and flip experience. We’re gonna talk creative financing and where investors might be missing opportunities right now. Nick, thanks for coming on the show. I appreciate you.

Nicholas Tortorelli (02:42)
Hi Cody. Thanks so much for having me. I’m ⁓ really excited to be here today.

Cody Crabb (02:46)
Yeah, so ⁓ I’d love to hear ⁓ I’d love to hear a little bit about ⁓ about you for the audience. You know, I gave you I gave a little bit of background, but how’d you get into the industry? It’s how how did how’d you get interested in in real estate in the first place?

Nicholas Tortorelli (03:00)
So I actually started in construction and ⁓ I was I was I had a a business doing gates and fences, mainly wrought iron. And it was really and I I was working as a subcontractor in Southern California for a a larger ⁓ construction company that was doing a lot of track homes. And so I I was in that right when the the market crashed.

And ⁓ ended up getting into the the sales a few years later.

Cody Crabb (03:37)
Nice. Okay. So so ⁓ I mean what about the market crashing made you go, Hey, this seems like a this that you know, that really stable industry that we just all experienced, that seems good. Like what why did what made you still want to get into it after that?

Nicholas Tortorelli (03:51)
Well, I don’t want to diverge too far, but I had I was doing a lot of these ⁓ fences and side gates, man gates for these new homes. I was doing like a lot, like you know, forty-five to sixty a week. And we’re just you know, like four foot gates, three foot gates. We were just cranking them out for this ⁓ this large home builder. And

That it’s it slowed like greatly as as different divisions would be ⁓ finished and then this is down in like rent in Rancho Cucumonga, Ontario, Apple Valley area, where they’re doing these large tracks, all of a sudden like all the construction kind of started slowing down, and I saw I went from you know doing that fifty gates a week to ten and I had I had somebody which was still

You know, pretty decent doing that out of a small shop in Southern California.

Cody Crabb (04:52)
That percentage d decrease though is pretty scary. Yeah.

Nicholas Tortorelli (05:43)
Decreased a lot. And so I ended up ⁓ there was a guy ⁓ that also owned a a larger gate and fence company called All in One Fence. And he bought me out and I bought a a restaurant. And I hung out in the restaurant and ran that for a couple years. I saw the crash. I I think I sold in two thousand seven and the crash started hitting in like eight. So I didn’t know, I just it was lucky timing.

So I had every day at the restaurant this ⁓ it was called tortarellis and and

Cody Crabb (06:19)
That sounds like a re that sounds like a restaurant. I would I would automatically assume that was restaurant.

Nicholas Tortorelli (06:24)
I had

all these real estate agents coming in. There’s a real estate office, I think it’s Century Twenty One. Shopping center. So these guys were coming in every day, ⁓ w nice clothes and nice cars and taking two hour lunches. And I thought, Well, I think real estate’s something I could get interested in

Cody Crabb (06:43)
Yeah, seems like yeah, I’m I’m in the I’m I’m working twenty four seven in a in a restaurant and they’re yeah, yeah, yeah. There’s something doing something right, yeah.

Nicholas Tortorelli (06:52)
So I got an offer and then just about this time, this was now like twenty ten, twenty eleven. I got an offer on the restaurant and I saw there was some opportunity to get into real estate because it was a good time to buy in twenty eleven, twenty twelve. ⁓ so I I sold the restaurant. I moved to the Central Coast where I’d met my wife at Cal State Monterey Bay a few years prior. ⁓ we both

Really loved the area, wanted to come back. Selling the restaurant gave us the the money to do that. ⁓ my wife wanted to become an attorney, so she she started at Monterey College of Law and I started ⁓ flipping properties. And ⁓ awesome. You know, I my dad was a general contractor, so I had some some hammer and nail experience and ⁓ I I went for it. And then I got and then I realized I was giving a lot of the you know

To me like three percent when I was just trying to make ten percent at the time. There’s a lot. So I I decided, well, I need to get my real estate license too, so I can sell the sell the houses myself.

Cody Crabb (07:53)
Yeah.

Yeah. Well, and the rest is history, it sounds like. ⁓ Yeah, that’s wild timing. I mean, you got out of restaurants right at the right time, it sounds like you got offer an offer and you kind of it’s that luck meets ⁓ luck is opportunity meets preparation or whatever it is. That’s sounds exactly like that. ⁓ so for listeners that weren’t in the market back then, what did it what did opportunity look like? You know, what were you buying rentals right away? Like what was your first real kind of real estate move?

Nicholas Tortorelli (08:03)
Yes.

My first real real estate move was buying something that was on the market for a really long time, which it may be counterintuitive to a lot of investors, you’re being taught, ⁓ find these off market properties. The the fact is ⁓ there’s some really good deals if you look for high days on market.

So look, you know, if you look for listed properties that have been sitting there for six months, eight months, nine months, now you’ve probably got a seller that’s ready to deal. You you know, they’re they’re they they wanna sell this property. They’ve been trying all year, they’ve been thinking about it every day.

Cody Crabb (09:16)
All year. Yeah, and probably more so as it c as it starts market line. Yeah. Yeah. That’s a really good takeaway. Like off market’s good, but sometimes the ugly get your hands dirty kind of opportunity is just right there because no one else wants to take it.

Nicholas Tortorelli (09:33)
And a lot of times ⁓ what I’ve learned as a as a listing agent on the broker side is that you you’ll have some of you you I I think it’s a lot it’s it’s not it’s a smaller demographic, but you’ll have some sellers that will say, Let’s just make up a number. Like I want seven hundred thousand for my house, list it for a million. And you’ll say, Mr. Ms. Seller, know that our

Data showing us that all houses are showing are selling within like 98% ⁓ at n of list price, you know. So we have to get close because the new dem, you know, the new buyer has Zillow, they know what this this house is worth 700,000. We market for a million, just nobody’s gonna look at it. no, people want to negotiate, people want to negotiate. Piff a lot of buyers don’t want to negotiate. That house might just get left. And then what happens is now it’s been on the market for 60, 90 days.

Now people think, it’s overpriced and something’s wrong with it because nobody bought it. And so it gets fewer views. And so now you’ve got maybe four months later a pr a property with a seller that’s willing to come down like twenty, thirty percent.

Cody Crabb (11:19)
Like they’ve already mentally done that. Yeah.

Nicholas Tortorelli (11:22)
Yeah, and so all you have to do is ask. And I mean I but I guess that’s most of this business is just asking. You you just you don’t know until you ask.

Cody Crabb (11:31)
Yeah, I can’t tell you how many times I’ve heard of people just being like you know, they’ll come on the podcast and they’ll tell some story about like I was just like, Hey, can I ⁓ can I go around with you and just kind of watch you do some deals to some big real estate guy and they’re like, sure and then they come in and like and then he asked me to be a partner on the deal and then hey, now I’ve I work with him every day. I’m like sometimes it really just is about asking the question that you don’t think you’re supposed to ask or something.

Nicholas Tortorelli (11:55)
But that but I did end up speaking of partners, my first flip, I had three other partners. There was four of us. So, you know, ’cause I was nervous. I didn’t want to risk a lot. I wanted to reduce my risk. ⁓ I think we all put in twenty thousand, ⁓ which was a ton of money to me at the time. And ⁓ you know, with eighty thousand, we ended up I think we ended up

Cody Crabb (12:06)
Yeah.

Nicholas Tortorelli (12:22)
doing a profit of of I wanna say it was like fifty thousand, we brought back a hundred and thirty ⁓ or we grossed a hundred and thirty and and

Cody Crabb (12:32)
I’m sure you’re a little bit like okay, it’s a r I it’s an actual thing I can actually do. Like it’s I it’s not just a theory now, it’s an actual thing. ⁓ actually that brings me to my next question here. So you’ve you’ve kind of been sitting in multiple seats. ⁓ you’ve got the brokerage side, you’ve got the lending side, you’ve got the rentals kind of management side, you’ve got the flipping side. So I’d be curious, like, how do you think being in all of those different seats?

helps you see deals compared to someone that’s just kind of coming in as an investor. Like what are you s what are you looking for and seeing that maybe someone else is not because you’re in your position?

Nicholas Tortorelli (13:10)
⁓ as far as like what to buy or how to buy. I mean I guess the those different seats give me ⁓ you know, as as a listing agent, I guess I see what what turns people on and off. ⁓

Cody Crabb (13:14)
Yes, all the above, yeah.

and a little bit of that seller psychology, like you said, as well, like already kind of knowing what they might have in mind selling.

Nicholas Tortorelli (13:36)
Yeah, I I think that the the seller psychology being a listening agent it helps me see like that what people are kind of will do in deals. ⁓ it helps me to see that like there’s finding out the motivation for a sale is very, very important. ⁓ when from the lending side, that’s helped open my eyes, which

Which should have been obvious to me, but I didn’t realize at the beginning of my career that that I was so focused on say getting the price down ten or fifteen thousand that I hadn’t done the math and realized that getting the rate bought down by the seller by ten or fifteen thousand actually helped me tremendously more. ⁓ you know, because a ten or fifteen thousand dollar

price reduction might drop my monthly like fifty bucks, but if I have buy down the rate, it could drop my monthly like three hundred dollars by the same amount. So that’s pretty incredible. I would always ⁓ do your, you know, math on your loans and payments and and look at those different angles.

Cody Crabb (15:37)
Yeah, because it’s easy to like I o like I hear a lot of people say, like, just do the numbers, do the numbers. But like make sure you have all the numbers because that’s a perfect example of like you did the math and you’re like, that seems like it can work. But like if you really dig in, it could work a lot better. Maybe you’re making a not as good of a choice as you think. Yeah.

Nicholas Tortorelli (15:55)
And and then also from the sales from the listing perspective, I find I’ve kind of seen what’s what are what are difficult items ⁓ or difficult parts of the equation that make it really hard to sell. A busy street can make it hard. ⁓ you know, you you’re gonna have to do s if you have a busy street, one of the first things you should do with a flip is figure out how you can kind of block that out in the front. ⁓ I guess ⁓

Landscaping can go a long ways. You can get a good sometimes you can get a really good buy on a house just because that seller has has no curb appeal and the you know that can c that can be one of the your best bangs for your buck. Doing landscaping can really go a long ways in your sale price. ⁓ and it’s it’s one of the lowest cost things, just work. ⁓ I would say ⁓ the bathrooms

And master ⁓ well primary bedrooms sell the the sell the house. So you if you’re d gonna do a flip, concentrate on your on your primary bath and your pri primary ⁓ bedroom and your kitchen. Your kitchen’s gonna sell the place. ⁓ that’s gonna be like the number one thing people go to is the kitchen. And yeah, well I don’t

Cody Crabb (17:17)
that is, but when you said that I like, Yeah, that’s yeah, I do too. Yeah. Yeah.

Nicholas Tortorelli (17:23)
I think those those things I’ve learned from the listing. ⁓ but on the ⁓ on the investor side, I guess, for rentals, ⁓ I I definitely want like a stronger market. I wanna push because I’ve done you’re gonna get more cash flow in ⁓ in an area that that has ⁓ lower priced homes, right? That and it and you’re

More cash flow and no appreciation is usually kind of how it goes, right? So if you go for an area with less cash flow and more appreciation, ⁓ I think that can actually help you better because you can pull that equity out and roll into a another rental in a year or two. You know, ⁓ I and personally it’s just the the the the type of renter you’re gonna the type of tenant.

⁓ to me I I think you’re you know, it’s easier if you if you go for a a little less cash flow investment sort of side.

Cody Crabb (18:32)
Yeah, I think Yeah, if I if I’m hearing you right, like it what you’re really trying to say is like ⁓ have the pl have the whole plan in mind. Like don’t just go, Yep, I see a cash flow number, I’m taking the highest number I can find that gets me cash now. You’re saying like keep your strategy in mind. Yeah, ’cause that might benefit you a lot more in the long term. ⁓ yeah, for sure. ‘Cause then you you know, then that that depends that that delegates some

you know, equity down the line and like how can you what can you purchase next? And do you have do you even want to purchase something next? Like all that of course is gonna come into come into play for sure. ⁓ so I I think I really like what you’re saying though, because it’s you’re you’re not just saying like slap a coat of paint on and and you know like make cover the problems with the the whole landlord special with the cover the the holes in the walls with toothpaste or whatever. Like you’re saying there’s some cheap problems to solve that actually like

are real problems, but like can really make a big difference. ⁓ and so when you when you’re looking at a property, how do you typically separate the cosmetic problems that actually do make a huge difference, like big ROI problems, versus like problems that are just gonna follow you and I mean there are there are cosmetic problems that are not just cosmetic, obviously that are a lot bigger than that. I’m just curious, like what do you so you you said you look for like the kitchen, the landscaping and stuff, but are there other things that

that you should ki that you kind of look for that are not just cosmetic that maybe could be bigger Yeah, big red flags. Things that you see right away that are like maybe take a second look on that one. Yeah.

Nicholas Tortorelli (20:03)
Yeah, she’s done.

Yeah,

I mean definitely whenever I’m ⁓ seeing foundation issues in older homes, although I can say foundation issues really scare people, scare most buyers, and they can actually be remedied fairly easy a lot of times. I’m ⁓ but i if you don’t do them yourself you’re gonna get I guess people are scared of them because there’s some huge estimates, some huge bids that go out to fix foundations.

And but really at the end of the day well I’m not advocating somebody goes and tries to fix foundation they

Cody Crabb (20:46)
Their foundation’s about to collapse and it’s I got it for a steal. Yeah, no.

Nicholas Tortorelli (20:50)
I mean you’re talking like for the most part like ⁓ jacks, concrete, like digging holes, right? So and and fixing reinforcing things. So I guess I’ve found some good deals because ⁓ a house with long days on market ⁓ will have some kind of foundation issue, ⁓ cracking that can be seen above that that that’s gonna scare off a lot of buyers. And sometimes I mean really

You can if it’s a crawl space, you can get underneath, you can fix post some piers with a bottle jack and ⁓ and mix some concrete and you can start like really level things out. And that but I mean I’m talking I’ve seen some huge discounts during the investigation contingency where it’s like, hey, look at this picture and our here’s our home inspection and this this need this needs a whole new foundation.

And all of a sudden there’s like two hundred thousand dollars off the purchase price. So that can really work in the investors, like, you know.

Cody Crabb (21:56)
So okay, this is a question I have because you’re mentioning all these things, like all you gotta do is get the the thingamabobbin, the the what’s it? And I’m like, I as a very non-handy person, I’m like, that is terri that sounds terrifying to me. So I think ⁓ my question is like when you see something like that, that’s like ⁓ it’s it sounds scary or it’s a big deal, but it’s not necessarily gonna be a huge deal to repair. It’s like it’s important, it’s severe, but we need to and we need to fix it, but it’s not gonna be necessarily super costly. What what

Why is that is i is it just ’cause you’re super handy? Like you grew up in the grew up in a in a household where that was that was normal and you grew

Nicholas Tortorelli (22:34)
My father was a general contractor and he built homes. ⁓ so as a little kid, I I saw how houses were built, either with the you know, a perimeter foundation or a slab. So in our area, we on the central coast, we have a lot of sandy soil, and a lot of the homes were built with with ⁓ concrete perimeter and then post and pier. So they’ll they’ll have maybe ⁓ block wall.

And a footing poured around the perimeter of the house. And then there’ll be these ⁓ 12 by 12 inch or one by one foot ⁓ concrete piers with a wood post on top. Now, now because it’s so sandy and you might have earthquakes and just movement, those posts can get ⁓ you know, they’ll sink down into the sand

and and that ⁓ a professional or well, you can do it yourself, you can get under there with a 40-ton.

bottle jack and you lift up the spot where it’s ⁓ out of level and and you put you put some base rock underneath, reset the pier, recut your your four by four post to the correct length and and then rehe reshore it up. So you can you can do things like that that that are take time and take getting under into a crawl space that most people don’t want to do. ⁓ but that that can be an opportunity to

really negotiate a favorable price for a buyer. ⁓ you know, just as much as as a roof. A roof, we the same thing. I mean, I I I’m not a roofer, but I’ve done a lot of my own roofs on flips because I can ⁓ it it works in my favor as a buyer that a roofing contractor will bid a roof for say a a nineteen hundred square foot home. It’s gonna be a I I

I know that bid’s gonna be thirty, forty, maybe forty-five thousand in our area. I can probably do that, whatever it is, ⁓ nineteen squares. I can probably do that for like six thousand in materials. And ⁓ I buy a compressor and a and a and a a stapler. Well, I did years ago. But so minimal tools, you know, a thousand bucks in tools, and you can be roofing a house. So if you’re willing to do it and buy and and you’ve and you

Navy skilled labor is difficult to find, but if you’ve watched a bunch of videos and you you can h hire some helpers and train them, you can you can roof your own house. So

Cody Crabb (25:12)
Yeah, I th so what I’m hearing is like knowing when to panic. Like be worried when you need to be worried, but also like, you know, if if it’s it might not be the end of the world. Like you could I I my brother’s one of those people where he’s just kinda like, No experience, no no real reason to believe this, but he kinda like, I could I could probably figure that out. And he does. I’m always like I guess he I guess he can, yeah. So ⁓ you know

Nicholas Tortorelli (25:36)
It’s

really we’re living in an incredible time with ⁓ the amount of education at our fingertips. I mean, AI gives you the ability to get what before maybe may have been a very expensive education. Now I can literally just and it’s not rocket science. I mean, I can teach myself how to do pretty much anything in a house. I think people should be very careful with electricity. ⁓ I don’t think that’s I I don’t

I hire an electrician on my stuff because I just I I don’t want walls catching on fire and I I don’t want to be electrocuted. But I mean a a lot of stuff like a lot of stuff you can figure out, right? So yeah I’m not a contractor, but I I and ⁓ and I have friends, you know, you that’s the other thing. It’s all your network. Be nice to everybody you meet. And and I I found in my life that if if you’re interested, experts are really

they want to share their knowledge because they’ve taken a lot of time out of their life to learn something and it’s wonderful to to share it with somebody.

Cody Crabb (26:42)
And they go home and their spouse is tired of hearing about plumbing and they would love to they would love to nerd out for a minute. Yeah, I know what you mean. Yeah. ⁓ well, cool. So like I g I guess that was a question I had. So like would you recommend like you kind of getting some people around you, like a little bit of a network to be like, Hey, I’m gonna text this photo to Trevor and be like, Hey Trevor, am I gonna am I is it possible that I could

per repair this foundation myself or ⁓ is this a stupid idea?

Nicholas Tortorelli (27:12)
You’re

you’re gonna want to build a network. I mean, you’re gonna need a network of ⁓ a lender you can call and ask questions, a real estate agent you can call and ask questions, ⁓ a contract, a Ruby. Just make some friends. I mean, I think that goes long ways. And I I I think it’s like it’s not too hard to do. You just start kind of ⁓ staying in constant contact with people. Small, small deposits earn you really

You know, big balances.

Cody Crabb (27:43)
Yeah. Well and I think yeah, I think ⁓ that just reciprocating is the biggest thing. I mean, I can’t tell you how many times I’ve, you know, just done a little quick favor for somebody that in that in that kind of way where they just have a question or something, and then it comes back to me tenfold because they’re like, hey, let me you helped me that one time, so here I’m gonna refer you a new client or a new, you know, someone and someone else that you really need for your network. So ⁓ yeah, I like that. The small deposits before the before the withdrawal. That’s nice.

So like for someone that it really is starting from zero, like what would you where would you recommend they start with that kind of thing?

Nicholas Tortorelli (28:20)
So if you’re starting from zero and you want to get into real estate, I would definitely be looking for seller financing, of course. ⁓ to get seller financing, ⁓ you’re looking for people that own outright and probably don’t live there. So either empty houses or they’re really tired of a tenant. ⁓ you know, because you do get landlord fatigue. People people get into real estate investing think it’s

gonna be really easy and then, you know, t ten years later they may have already made ⁓ a decent amount of return on that investment and they maybe they’re in a position in their life now. ‘Cause you’re gonna you can’t even imagine where you’re gonna be in ten years from now, right? It’s that so so it can be a totally different landscape and

Cody Crabb (29:10)
Yeah, imagine yeah, think about the think about ten years ago. Like think about twenty sixteen. Was the world a little different? Yeah, I would say so. We lived through a pandemic for one. I mean it’s you just never know what’s gonna happen.

Nicholas Tortorelli (29:20)
So so I’ve found property owners ⁓ where I I have approached them and said, Okay, you’re getting this rent right now and you’re also re responsible for the taxes and you’ve got to manage this tenant, and anytime something breaks, you’re responsible for the repairs. Let me give you the same amount or close to it a month and buy it from you. Now I’ll do I’ll be paying the taxes and I’ll be ⁓

taking care of all the repairs. And so that that may be pretty attractive to to a property owner.

Cody Crabb (29:57)
Yeah. ⁓ so we’re just about out of time, but I had one more question for you. ⁓ as because because of something we talked about before the podcast started. you mentioned ⁓ that you’ve been seeing ⁓ some kind of shift in the short term rental market. You kind of dipped your toes in there and were not a super huge fan of it. ⁓ so tell me a little bit about that. You you you said people kind of jumped into Airbnbs. There was it was great for a while, but then there was some regulation and there’s a lot of other things to consider.

⁓ and a lot of are tired and you said there’s but there’s some short term rental fatigue is what I is what I heard you say.

Nicholas Tortorelli (30:33)
There’s definitely some short term rental fatigue. I think there’s ⁓ a couple different factors putting pressure on on owners of short-term rentals. The the first is I I think a lot of people didn’t realize how much work it is to essentially run a hotel. ⁓ and you’re you know, because you’re dealing with your your cleaning crew not always being reliable, or maybe they’re reliable, but they’re not quite as on the schedule that you need them to be to get one.

⁓ you know person out and and it ready for another person coming at three o’clock today. Yeah. So that can that can be very stressful. ⁓ they’re not they didn’t expect the call at one in the morning ⁓ of you know the ⁓ the faucet being broken or know there’s just there’s there’s a lot of fires to put out when you’re when you’re running a short term rental. And there’s and if you have the system down and and you’ve got support

And you’re running, you know, and that’s your business, then great. But a lot of people thought, I’ll just do this on the side. And now they’re working their 40 hour job and they’re still getting these calls every night. I mean, that can that can wear that can definitely give you some fatigue. The other thing is is that ⁓ a lot of the cities are are are really cracking down. I think it’s a lot of pressure from hotels, ⁓ because the hotels are are giving

small governments a lot of a lot of income with their TOT tax. ⁓ I know they they they’ve now implemented Tot taxes in most short term rental markets, but it’s just not gonna compare to the ⁓ what you know what a large hotel is bringing in. So as cities

Cody Crabb (32:21)
Not to mention all the jobs and yeah, there’s there’s lots of reasons for a city to want a hotel there.

Nicholas Tortorelli (32:25)
So so in Seaside California, they they were allowing ⁓ short-term rentals. They just restricted them down to a small number of permits that’ll that will go out. And so now we’ve got, I think, maybe like ⁓ at least 50% or more of the market will not of of currently operating short Airbnbs, short-term rentals, they’ll they’re not gonna get their permit. So we’re seeing those houses come onto the market.

I think that is definitely if you’re looking for an off market investment opportunity, ⁓ approaching short term rental owners is ⁓ is is an emerging ⁓ lead source.

Cody Crabb (33:08)
‘Cause you ’cause there’s a there’s a chance they’ll be like, No, no, I’m loving it. It’s it’s great, it’s it’s the best thing ever and there’s a chance they might give you a hug and say, I will do anything to get out of this

Nicholas Tortorelli (33:17)
Love to sell it and I’d love to sell it off market and and save whatever, you know, five, six percent and now that being said, you may still want to ⁓ try to work a deal with a real estate agent and say, Hey, I’ve I’ve I’m gonna purchase from this person. I’ve already got the deal. I just need you to do the the paperwork and handle ⁓ you know, that side for me. I I think that’s if you can get somebody to do it for

Cody Crabb (33:25)
Yeah, for sure.

Nicholas Tortorelli (33:47)
flat fee or for one and a half percent or something, I I think that is still gonna be a good idea because on the on the real estate brokerage side, the absolutely the the most lawsuits we see are for sale by owners. So if if you can ⁓ get a especially in California, there’s just it just there’s so many people are litigious. It’s good to cross your T’s and dot your eyes.

Cody Crabb (34:14)
Yeah, it makes a lot of sense for sure. ⁓ well, this has been awesome. thank you so much. I think there’s been a lot in this episode to to think about the the STR fatigue, but also kind of, you know, the thinking about what’s on the seller’s mind. I think th this has been like a really useful episode. ⁓ kind of finding opportunity where people don’t necessarily see it. So thank you for that. before we wrap today, I’d love it if if someone wants to connect with you, ⁓ they want to learn what

more about what you’re doing. They want to talk through something on the brokerage or lending side. Where should they go? And who would be ideal to reach out to you?

Nicholas Tortorelli (34:49)
well, thanks so much, Cody. I really enjoyed talking with you today. It’s been a lot of fun. if anybody wants to get in contact meet with me ⁓ on the sale, or it’ll ⁓ you can do a website ⁓ submission, it’s w www.montereybayhouses.com/ And ⁓ there’s a contact form there and it’ll I check them every morning, so you’ll get a you’ll get a

Personal call just from me.

Cody Crabb (35:18)
Love that. Well, thank you so much. Appreciate it. once again, ⁓ thanks so much for coming on. And listeners, thanks for giving us some time too. If you got something out of today’s episode, make sure you follow us so you don’t miss great episodes like this one. Have a good one. Take care.