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Show Summary
In this conversation, Kendall ShortSaleMaster Rouser shares his expertise in pre-foreclosures and short sales, detailing his journey from his first short sale to navigating market crashes and scaling his business across various states. He emphasizes the importance of team dynamics, networking, and continuous learning in the real estate industry.
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Investor Fuel Show Transcript:
Kendall ShortSaleMaster Rouser (00:00)
And after the bank received my offer in the pictures, they counted me at 7,500, right? Now, mind you, even though the listing was for 60,000, the client owed 72,000 on the mortgage. So I got my first short sale.just by doing what I’m telling you guys. Back in that day, it was kind of easier before the market crash, right? So that’s how I got into it. And I’ve been doing it ever since. I was hooked. Once I got that property and bought that property for $7,500, I literally sold it two weeks later for $16,500.
Michelle Kesil (02:08)
Hey everybody, welcome to the Investor Fuel podcast. I’m your host, Michelle Kesil And today I’m joined by someone that I’m looking forward to chatting with, Kendall Rouser, who’s been making serious moves as an investor focusing on short sales. So excited to have you here on the show today, Kendall.Kendall ShortSaleMaster Rouser (02:26)
⁓ good to be here, good to be here, Michelle.Michelle Kesil (02:28)
Awesome. I think our listeners are really going to take something away from how you’re an expert at pre foreclosures and turning your dead deals into a deal. So let’s dive in first off for those not familiar with you and your world yet. Can you give us the short version of what your main focus is?Kendall ShortSaleMaster Rouser (02:52)
my main focus is short sales. Once again, pre foreclosures is that’s my thing. ⁓ You know, with my my niche and mode of business being short sale. So that’s all I do. I’ve literally been doing it over 20 years, 24 years now. So that’s what I love to do. I like haggling. I like working and talking and negotiating with these banks working with.clients and borrowers and sellers and owners in these unfortunate situations. So that’s what I like to do.
Michelle Kesil (03:23)
Awesome. And how long have you been doing this? What got you into this role?Kendall ShortSaleMaster Rouser (03:29)
very simple. So as a whole, I’ve been in real estate since 2000. ⁓ I made my first, you know, successful short sale in 2002, but how I got into it was very cool scenario. ⁓ I was actually selling a property and I had a gentleman call me about the property that I was selling and what he ended up doing in that conversation. We were just conversing about how he was able to get a mortgage company down.on the unpaid principal balance of what that client owed just by sending in all the needed repairs to that property. So literally from that conversation, I don’t even remember that name. that person is who I have to thank for what I’ve been doing all these years. So I literally tried and remember what he told me. ⁓ Maybe two weeks later, ⁓ it was a listed property that I made an offer on.
and I made the offer for $60,000. And sorry, it was listed for $60,000. I made an offer of $20,000. And the real estate agent called me and told me, hey, you need to go see the property. But she really didn’t say anything about the low offer that I’ve made, right? So it kind of struck me. And when I went and saw and viewed the property, I understood why she wanted me to go see the property, because it was in total disarray.
that needed a total renovation. as a result, I remember the conversation I had with that gentleman and I told her, I said, hey, I want to try something. Now, mind you, at this point, I’m very new to real estate. I’m new to real estate as a whole, right? So I’m still learning about everything, all the aspects of real estate. All right. But I did remember what that gentleman told me. So I literally told the agent that I would take pictures of all the damages to the property.
And I did that and I actually back in those days in 2002, you know, I had to take pictures with a disposable camera because, you know, they didn’t have iPhone, the smartphones as plentiful as they do now. Right. So I literally went and got these pictures developed at the local CVS.
Once I got them, I put them in a next state package to the bank. And after seeing the property, I dropped my twenty thousand dollar offer to.
$5,000. So I put the offer in the package. put the pictures in the package. And now mind you, I’m new to real estate. So I told this agent I was going to try this. I remember her telling me, she was like, well, my broker, he doesn’t think that’s going to work. We don’t know about that. I really didn’t. I really didn’t either. So but lo and behold, the bank received my offer. They received the pictures and they counted my $5,000 offer.
on the property that was listed for 60,000 when I initially made an offer of 20,000 and upon seeing the property dropped it to 5,000.
And after the bank received my offer in the pictures, they counted me at 7,500, right? Now, mind you, even though the listing was for 60,000, the client owed 72,000 on the mortgage. So I got my first short sale.
just by doing what I’m telling you guys. Back in that day, it was kind of easier before the market crash, right? So that’s how I got into it. And I’ve been doing it ever since. I was hooked. Once I got that property and bought that property for $7,500, I literally sold it two weeks later for $16,500.
So I was like, number one, my first biggest deal, and number one, my first short sale. So from that point forward, I was hooked. So I looked for properties that
Number one, had mortgages on them and that need of a lot of repair because, you know, I felt like that should be an easy sell to the bank, to the mortgage company, to the service or to the lender, whoever was an investor on a particular loan. So that’s how I got into it. Just by conversating with someone that I don’t even remember his name. So whoever you are in this inner workings of this web and the internet, if you remember that conversation, thank you.
for telling me that, mastering this and doing it for 24 years plus.
Michelle Kesil (08:24)
Amazing, I love how, yeah, just one little moment put you on this trajectory. That’s so inspiring.Kendall ShortSaleMaster Rouser (08:32)
Yeah, man, it is. So, you know, I just love it. So, you know, doing what I do, ⁓ it helps people, you know, because unfortunately, a lot of people are in scenarios when they come to me, whether it be, you know, they bid off more than they can chew as it relates to when they purchase the property, especially now within the last couple years, I really I’m willing to say between 2000 andone up until now, especially when the interest rates were two and three and 4%, you know, a lot of people bought much, much more of a house than they should have just because the interest rate was low, you know, and even though they might, that might even have some fixed interest rates on these properties that they purchase on the, on these mortgages that are on the properties that they purchase, you know, if one rock, one bump in the road and their life happens,
It’s wrapped and unfortunately I’m seeing a lot of that here over the last three months with a lot of the deals and leaves that are coming across my desk coming in my CRM. ⁓ I like helping a homeowner, helping a seller get out of a bad scenario in a situation and getting this headache behind them because the ones that are super motivated and really want to get rid of this headache, that’s all they want.
They just want to get rid of it. They tried to sell it. They tried to list it with a real estate agent. But, you know, as I know, if you were an investor, the market would always show and tell you what your house will sell for most of the times, right? Especially if you’re listing and you put it out there for sale. And a lot of times, yeah, it will. So what doesn’t happen is, you know, in a lot of these cases where people owe more than what they were, obviously they don’t get sold.
So
That’s why everybody refers these type of transactions and scenarios to me, because there’s a lot of people in the space, but in the real estate space as a whole, but a lot of people do not know how to do short sales correctly. They made or did, they might have done one or two of them. you know, I hear all the horror stories, how it takes long, it takes this and that, but, you know, knowing the right frameworks and knowing how to do it correctly can circumvent.
you know, lot of time wasted on improperly processing a short sale.
Michelle Kesil (11:29)
So what are some of the things that have made the biggest difference for you in allowing your business to run smoothly?Kendall ShortSaleMaster Rouser (11:39)
man, I can tell you one person, one of my ex-employees, just hiring the right person, hiring the right people, getting somebody who actually was a client initially. ⁓ One of my long-term employees, she was a client initially and she just wanted to work for me. at that particular time, I was really, you know, really busy with what I was doing. And luckily for me, just being blessed,be quite frank with you, just meeting someone who understood it, who got it, and then could take direction and direction and directed well about what it is that I do. And for me, ⁓ luck, mere luck, but outside of just having your luck, you know, just knowing, just living life and experiencing people.
especially as it relates to hiring employees. That’s really one own experience has led me to know most of the time if I hire someone, if I’m working with someone that he or she is the right fit for me. So, that’s the answer to your question. That’s the short end of it.
Michelle Kesil (12:57)
Yeah, absolutely. That makes a lot of sense. People that you have on your team can really make it or break it.Kendall ShortSaleMaster Rouser (13:04)
yeah, yeah, so for me that’s what it was. And I was, you know, was a scared boss, didn’t really wanna, you know, give our job tasks to let somebody else do it. Cause at the time I just felt nobody could do it like me. But, you know, luckily for me, I had somebody once again who just received the information I was telling her and she got it. And we worked together off and on exclusively for her.strong four years, but we still work probably, collectively, don’t know, six years. So it was awesome. And these years were in the heighten of the market crash and probably it started really in 2006, but a lot of people or news outlets would tell you it started in 2008. But I felt it and I knew what was happening. I knew it was going to happen.
I knew something was going to happen, but I remember telling a lot of investors, hey man, this is where my exact words verbatim, I said, this is going to pop, it’s going to burst. And it did. And luckily for me, like I said, my first short sale was in 2002. So I had six years of being in the trenches doing this, knowing how to do it correctly, just learning from my mistakes.
And so when the market crashed in 08, that was probably one of the best years of my career to this day, still.
Michelle Kesil (14:29)
Yes. Wow.Wow. That’s so cool how you were able to use that time to create success.
Kendall ShortSaleMaster Rouser (15:19)
Absolutely. So I definitely will say it was perfect timing. know, a lot of people ask, well, how and how and how perfect time, you know, perfect timing for me when I first got in the game and learned the skill in 2002 and then perfect time. And unfortunately for the nation, the world at a, at a hole when the market crash and you know, markets were upside down andbeing that I had the skill set, I was there and able and had the know-how to capitalize on the market. And here we are still doing it to the. And although and even though the market has recovered somewhat since obviously 2008 and beyond, but now it seems like it’s cycling back yet again. You know, it might not.
Michelle Kesil (15:54)
Mm-hmm.Kendall ShortSaleMaster Rouser (16:12)
Hopefully it never gets to the point where it was a million plus, a million plus foreclosures in the marketplace, right? But, you know, my mode of business, my niche of business, ⁓ as I tell people, it will always be because unfortunately people gonna always go through a divorce. People gonna always, someone is gonna die and they have loans.And a lot of times people once again just buy wrong. They buy real estate wrong, whether they buy it as an investment, whether they buy retail. you know, unfortunately people just, you know, aren’t informed about a lot of times about these real estate purchases, which are the biggest investments most people make in their life is buying a piece of real estate. So for me, I believe my nature of business will forever be
And it doesn’t need to be, and I don’t want it to be. And, you know, once again, I really didn’t need it to be a million foreclosures active. you know, obviously between, I believe, 2011 is when it was at its height. Excuse me. But so for me, ⁓ yeah, that’s just what it is. ⁓ Just perfect timing. Perfect timing.
Michelle Kesil (17:26)
Yeah.What are you most focused on solving or scaling to next?
Kendall ShortSaleMaster Rouser (17:32)
Once again, know, my business internally, ⁓ in-house, but as it relates specifically to short sale, just ⁓ now being in other markets. ⁓ You know, so I’m scaling it and as a result of being in other markets, obviously I’m getting more busy here because I am in the Atlanta Metro market. all those deals from 2002 up until now,majority of them, 95 % of them were in Georgia, the Atlanta metro area. So now I’m in other markets. I’m in Texas, I’m in Florida, I’m in Iowa, I’m in Montana, I’m in Maine. I’m all over the nation with what it is that I do in Master. So the process is the same in other markets, in the United States. So for me, scaling past my local market,
and doing what I do because everybody needs my expertise. So in addition to my business scaling, I’m also scaling my coaching, coaching and teaching other people in other markets, in other places how to properly scale if they want to, but how to properly do short sales the correct way, the less, you know, with less time and less energy and effort in doing these type of deals and transactions.
So scaling, just scaling in other markets is what I’m focused on right now.
Michelle Kesil (18:59)
Amazing. That’s exciting.Kendall ShortSaleMaster Rouser (19:01)
Yeah, is. Meeting new people, meeting new agents, meeting new investors, working with a plethora of other individuals who are in other markets. having partners in other markets just makes the business more fun because you’re dealing with different people that you’re working with, but you’re also dealing with other personalities from the customers, the clients.the borrowers, the mortgages, etc.
Michelle Kesil (19:32)
Absolutely. Yeah, so when it comes to growing your business, creating new relationships, networking, what are some things that have made the biggest difference for you?Kendall ShortSaleMaster Rouser (19:42)
You just said it networking. That’s key. mean, you know, I’m always number one, I’m always learning. So I’m always involved in a lot of real estate business networking events. And I’m always, you know, ⁓ game for more information, more knowledge, paying for knowledge, you know, to go to these events. And one of the main things that I’m really focused on learning and and getting out of anymastermind any ⁓ conference that I go to any learning event that I might attend is meeting other people and networking with people who are there high level people who are there that I could interact with and you know if I learn something from whatever information is shared there that’s just a plus but I’m focused on that one thing whether it be from the information that’s shared there or one thing that somebody has shared with me
while networking at any of these, any and all of the events that I go to.
Michelle Kesil (20:40)
Absolutely. Networking, relationship building can take you so far and are so important in this space.Kendall ShortSaleMaster Rouser (20:47)
Set up the last part again.Michelle Kesil (20:48)
Yeah, it’s so important in this space. It helps take you far.Kendall ShortSaleMaster Rouser (20:51)
⁓ Yes, yes, yes, yes. know, working ⁓ nationally and working in other markets, you definitely have got to have a good network because if not, you know, it’ll be ⁓ kind of difficult and hard sometimes when you’re in different markets and new markets and you don’t have either boots on the ground or you don’t know attorneys, title companies, et cetera. So networking and going to events andmeeting people and getting out there ⁓ is needed.
Michelle Kesil (21:22)
Absolutely. Awesome. So before we wrap up here, if someone wants to reach out, connect, learn more from you, where can people find you and connect with you?Kendall ShortSaleMaster Rouser (21:31)
Definitely ⁓ on all socials, it’s Short Sale Master. That’s one word, S-H-O-R-T-S-A-L-E-M-A-S-T-E-R. On Instagram, the same thing. On Facebook, my name is Kendall Rouser, R-O-U-S-E-R. You know, affectionately known to a lot of people in the industry as the Short Sale Master, the best in the nation.Michelle Kesil (21:56)
Perfect. Well, listen.Kendall ShortSaleMaster Rouser (21:56)
And you can alsogo to my website, shortsalemastery.net. I have a webinar every Thursday with an opportunity about learning and learning from the master.
Michelle Kesil (22:11)
Amazing. I appreciate you, your story, your time, your perspective.Kendall ShortSaleMaster Rouser (22:16)
Yeah, I appreciate you as well, Miss Michelle.Michelle Kesil (22:18)
Yeah, thank you for being here.Kendall ShortSaleMaster Rouser (22:20)
Well, I’m elated to be here. Thanks for the opportunity to be in front of you and your audience. And I’m all for it. I’m all for investing, networking, business, et cetera.Michelle Kesil (22:32)
Awesome.Awesome. And for those listeners tuning into the show, if you got value from this, make sure you’ve subscribed. We’ve got more conversations with operators just like Kendall who are building real businesses. We’ll see you on our next episode.
