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KJCE 1370AM>Audio on Demand>>Real Estate Investor Power Hour Podcast 07/17/14

Real Estate Investor Power Hour Podcast 07/17/14

Jul 18, 2014|

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It's time for the real estate investor power hour with Danny Weber. If you -- deal -- your revenue producer Danny has completed over 400 real estate transactions in the years he is a licensed real estate and mortgage broker and break. Loan originators and insurance brokerage in Texas to join the conversation by calling -- now 51239. Pounds thirteen seventy. Now here's Danny. Hi everybody welcome to another edition of the real estate investor power hour I am Danny wherever your posts and guy Jack -- here as always tell Jack hey you're ready. And got a special guest all the way in from Angelos into the state university teenager Texas that is just whoever. -- -- drama that is the the mascot for -- university. OK he's judges being rude message -- I guess there a way to start the show just -- today if you missed it come as always feel free to call in tonight if he got anything you wanna talk about on the show 51239013. Seventy. 5123 and a thirteen seventy. We had a budget could -- last week I'm talking about mistakes at people -- he -- -- tickets to the the upcoming training program this Saturday. And. Yeah and that's going to be a great program mom I'm looking forward to -- -- -- Kabul. Learn a lot from you Danny and you've got a lot of logged -- -- -- actress Jack's going to be any Keenan walk in until he brings -- part of his. Nutritional products that he is selling. So easily not going to be in the -- anybody's incinerating is going to be there. Rejection is up and does not have something in his hand -- stopped kicking -- -- he cannot he cannot come in. So we're gonna give away some more tickets tonight in the that theme of tonight's show. Last week we talked about mistakes and we can certainly keep talking about those if you got a -- mistake you made that can save some of our investors some money. Certainly -- with that five went to between and a thirteen seventy. And this week we're gonna hit it kind of do an inverse proposition which is. I wanna know what you've done to save deal is now vs mistakes any kind of craziness that that is crept up. A new deal could be a -- could be a combined hold renal could be a mortgage -- what is crept up that was totally unforeseen. That you found a work around for either you went through it over under it whenever I wanna hear about because I've got some great stories to share myself I'm sure Jack doesn't. On adjusting concerning type in whenever he wants to talk he's got some great college stories in track for -- these stories. I can he can tell us what fraternity with Justin. Pi kappa alpha pi kappa alpha. Wonder if they're listening to -- in no adjustments on the air. Feels it is a sale -- Hope hopefully they're they're turning into Atlantic's network T dot TV you know I I like this show our real -- -- -- this is a great show. I don't like looking at myself on -- network. Yet I TV if you're sitting at home right now and -- computer and you computer good Lance network dot com or Lance network dot TV you can actually watch the issue alive. And listen -- it live as well -- -- already we're we're we're recording the show here. And down the -- after the show we're going to be covered three tonight having some borders and sound crabbing champ towers and down Moscow Nielsen. And that's right that's good stuff which is a drink of choice here Africa. Yes in fact -- go who has a Christian and Brandt today are over there with Lance TV name -- winnings they do all this kind of stuff the only got a reality show you know you can. That they'll do it I mean that's. Everybody does and I should have a reality show you should because of the craziness a deal with finger at you every day and I've got if you -- you know it they would make that work is my own my construction trailer churning through the construction company. We issued a reality show with those guys to say that literally looks like a -- dynasty but in construction. And on those guys are just African personalities man left and right that's great. Let's get starlet -- about other class that's coming up Saturday if you've already registered great if you still wanna register certainly go to my website my own simple dot com my own simple dot com -- she Nemo it. Gmail.com that's in -- -- team on dot com. And I wanna be your friend on FaceBook. If -- -- on FaceBook and you. I'm not on Twitter or among Linkedin so Linkedin I guess we disabling in me this far out Ling -- -- I think are you say that do that -- Some of the things are going to be talking about the class Saturday. From. Investment strategies settings and goal is different types to deal -- in how to position yourself to win those. -- do you know maximizing cash ornery and direct talk about mortgage wraps. I'm -- gestures actually supposed to be there he is -- to -- a quick trip to Florida -- -- can be back in time. -- Castro is nothing going to be there. I'm that age issues with being on capitol Jackson meters short short share some stories. And so. You know flips in rehab which is my favorite subjects -- we're gonna talk about some new construction. For guys that have money in IRAs -- bank account and I didn't minimal return some new construction. By far my opinion is going to be it was profitable thing it is next year's. Yet even more so than put in rehab and come up with and we have fanatic. So keep that in mind 5123 and a thirteen 75 went to three and a thirteen seven to call in with anything you've done to get daily -- deal we're going to be -- -- tickets to Saturday's classic -- three. Which includes free food and free alcohol after the class. Hey that's. Should be before the class at third period class kind of town integrate in -- you mentioned new construction and now I'm not done that but it seems to mean that that there would be a lot fewer surprises in -- construction and manufacture or. You know once you've got you -- for you got your life you gotta scrape he got apartments it's a game on I would think he you know under rehab. 48 sinners. You've got you know gas lines that are renowned jacked up and be an all all manner of things that you just don't know about. Bright sunny Justin's actually been on a bunch of -- with me he's been how many years you've been known to -- with -- You know used to bribe them image and knowledge friends would come to demo work fit with mean pick up trash and stuff and well what happened is when they were younger. If anybody's got kids understand this when they were younger they show up on the on the job site in -- carts about an hour than they disappear with their cellphones. It's are trying to hide from me on the job sites right now that's gone down and say what the heck we are doing you know I cannot and asking for rocket science here just you know keep working. And a minor minor too young names makes Beers and and things will not do a job Mia and I am meeting going on on. It's a job site for years with me. But but to your point Jack new construction is like. Com Nirvana for somebody's into the homes hurt church for twelve years -- instructions like a dream. Because usually starting you can actually make the room square you -- you do ninety degree angles where -- honor enjoy walking and it's. 85. Or or a hundred and -- general foundation in his life and taught jacked up man. So put me Dixon somebody else's mistakes which is typically -- donor Rihanna flip. Well you fix in somebody's. You know failure to carry their property for 5060 years like. Prisons on the street Martin we got a project going on right now in central Austin for a for colonel we're we're rehab and her house and one of the neighbors came over and Tom said he wanted to do their house the same thing when and in addition they wanted to do me a lot. A rehab with the completing Dennis does well the difference is is at their house. It was actually taking care of and so it's it's going to be a lot easier of a project should be look at each of -- project because it looks like it's it's it's you know even today it's it's livable and so that's important. Well I would think so and now and the new construction I don't know what. I'm really. Not familiar with that much at all but I don't know what the price for square footage released. You know if it's anywhere from 8950. I guess it depends on where here here -- and a you know type of construction unions. Well I think here you know for it's all over the board if stock -- -- than never winning -- a price for Griffith is it really is all of the board -- you could say I want you know. For Mike -- -- detailing granite countertop or want a level three granite and I want you know. I don't know Martha Stewart -- verses Behr paint and primer or those -- bar or whatever yeah it's all of the board. And so truly hard TU. To give announcement people ask now what time what's it gonna cost to build sure -- gonna cost us stability and is -- to sell it. That's a jealous he's gonna make money and doesn't exist and you don't wanna go to round -- -- -- -- Albanian village for a 105 himself for a 105 now but if you can get it if you price per square foot out you know 12530. -- gonna make money on it. My and that's just around about -- but you know it. It -- you know that was those are guys that I'm and you Jessica about 3035 properties in in southeast Austin. And he brings those out section eight that he would by the team bed room. Homes and many would go in and and the third bedroom so he can pull you wouldn't and the vast. So we could pull that maximum amount of -- from the section eight. He gives some turkeys on Thanksgiving in their hands on Christmas and allow the idea he really works about the guy vacations about nine months out of the year is got to -- tremendous cash flow. And I was I was just in San Antonio. This last week and I notice. Two bedroom houses for 230250272008. In that area they get -- that we forever day and I'm just now 515 they sell for ten or fifteen. Well well and then those are the ones and he'd -- there's a hedge fund down there now I'm forty house is a month. Out of there in and you know there in their. Reading these things out getting the cash flow bringing in the buyers some like well maybe that opportunity is there again -- I've got the MLS fired up Phnom kind of -- that extra three months to get to know. An area that that looks now looks pretty interesting that's kind of a David buttressed type of area where you go and buy low and do a few things and then owner financed the deal out. Yeah one and one of the things that I'm one of my friends on the -- FB FaceBook hear Tom mention that they have a property for at least. And other going to be the senator and I I read you read replied twenty want you rapist who would leave something these days when you can do an owner financing deal and the difference is this. The difference is is that only shooting in us it's -- 15100 dollar monthly she gonna get fifteen non deposit 59 dollars first -- Trent Green right in the -- you're just gonna pray they gonna take care of the house the next -- -- not yet -- when he for months. And they need human immediately vacate you've got to do a turn which attorneys typically you know so low in turns to a thousand a fifteen minute where is right if you IndyCar Peter three to five up. -- So what I would never do -- again. I mean if you cash on 300 dollars a month. And you end up having to do this 3500 dollar in our reach but where's your mind right about bristles like I'm lives I'm losing money. In so so the logic is is don't don't leave your property if you've got to lease. And it is you know we we got -- 2000 listeners if you got released going right now that's coming up for renewal shoot me an email ominous shape and I skimming money on this thing with with infinitely less headaches. She -- Al -- after the show whatever the -- yet come to the class Saturday how many -- had actually make some money and your property and get out of this monotonous crazy news and sleep with. Food disposals he sees now work and you know is just crazy stuff the idealist a diaper down the toilet you know I -- then that's that's favor you know favor one. Thumb but but -- the simple math is if you do an owner -- if he took a typical round rock home you know around -- -- -- 125250000. Not anything special. -- three to thirteen -- Griffin home. And you -- 12100 a month rent for right now CD 24 hours a month. When when you close a lease deal but. Guess what experts say that's going towards the note and then the other -- -- -- for a year in case there's any damages for a lot of investors spend it you spit it back at the end and they do. I'm gonna show you got to take it you know same 125000 are twelve -- -- -- Rental property in and make fifteen to 20000 cash up front and then lease it from a fourteen or 15100 dollars a month on a note we have no maintenance on the property. We'll which is which is perfect and some folks. You know they they are like well year in your -- and out on the equity but you know what you can. Turn that house and go do another one -- what they are gonna get a thirty what is it west averaged 30% this of the houses give back. Chambers now he's essentially about ninety really held every home I've ever rapped out I've gotten back in if -- talked to anybody who does a lot of wraps owner franciose they'll take the same thing. I forgot who we had on the show. On -- that that was that did this or maybe -- talked to Motorola has David. Spirit that was -- number if you ask David he's -- -- -- -- he gets a lot of homes back initiating deed in lieu of foreclosure lose because these are people who have money in the homes. And they're not gonna wanna get foreclosed on so that typically the right back early -- Well then my question is who we're not dealing with the rehab. Hassle I mean we're not dealing -- does the -- hassle but you do have some hassle getting a property magnate then again that's not. That big of a hassle especially if it's appreciated and you're gonna go NN and to do a little bit worsening. I mean you know well any down what what's typical on money down. Well I always do I -- 125000. Are homage -- -- 20000 dollar down payment and then 3% that goes towards a buyer's agent he typically want listed on the -- as you want people compete for your property. In like right now if you get on the in Austin Austin and unity unity when he assured stretcher was owner finance Sistani 120 properties -- -- -- and thirty under financed and and down a lot of people don't crazy down -- 5060 grand -- on -- 12850. Down around 20000 pounds enough is enough to pay your commission just duopoly 151000 closing. The -- in -- cash flow per month and you don't always and you have no headaches. Yeah you know an insane in that the people there are have a vested interest in in payment note every month. You know in as far as having to foreclosure on -- -- foreclose on these properties. -- in the two attorneys that we deal with daily you know -- yet -- announced. I think you know if you talk to both government -- and what -- -- to -- the same thing. -- I believe they've both only had to physically. Go to foreclosure maybe once or twice in all the years we've been doing this and it is not -- -- -- foreclosure and -- again. It it right in so that happens all the time and Indians have PR right now I think down in Florida so we can get them to call and ask him. But evidently -- any other attorneys anybody that's got experience doing this call and let us know which experiences are with that. I wanna get we gotta go to commercial break and about five seconds ten seconds here but when we get back we're gonna we're gonna give away tickets to Saturday's class this can be. For UN partners -- free and we never a great little trivia question for your question. Welcome back to their real estate investor power hour with Danny Weber. If you have a question for Danny don't these -- -- At 51 C 39 out thirteen 78. All right everybody welcome back and it's. What do -- what -- you show. Some you know that the crash in the and in the Ukraine today can't -- That's scary that's just my wife is in the Philippines and -- Oceana and apply this case there's no way to positively spin and you -- perform other than me and prayers going out to the family members of him and guys don't do any survivors but mainly to the bottom of that what is gonna happen. Now you know I mean somebody is Sony's gonna need the pace of the speak. For sure. Yeah. But he knew what will figure that out later only until -- wouldn't -- focus will be here all night well yeah tennis one hour showing to a twenty our show and it's an angry people calling. On on a more positive note bearing you know on and on -- network TV I just all the words intimacy. Passion no Christians are growing and his salsa dancing yeah I had so API if you wanted to see some great salsa dancing -- if you wanted to take a peek at us on Lance network not dvd we're we're there right now it's it's it's. Last until we got a couple callers and here on pats won three -- Hey it's -- we have on the line. Juan Pablo are. There weren't Blake Dunlap what is going on -- Dunlap whose career. I'm not sure what thank you it's it's nice to hear from me to -- we changed an email though it's -- we're going of their property to mark to. We don't and don't tell anybody about that prop because this mine right now. And I don't imagine going to meaning about it didn't and -- do not yet make it to me you know is gonna happen is when you get off this phone unit people emailing me I promise to play a Sony -- email money -- -- at first and second out. But so so did you call underwent a ticket Blake is that way Colin. Well I'm trying to look funny stories you tell me stories we're talking about. What are achieved quote deal when you get a low blocker program. -- shoot another tactical or strategic growth we built a big -- military structure and we built. 5000 through the Woodrow lap record appears factor. We cannot -- forbidden truth that. 2400 square pretty. This to beautiful out there Miramar partnership. And I don't. All the more people if they buried it on all food he edited it. -- -- -- -- -- -- -- -- -- -- -- -- -- Both my partners but it now we're gonna lie you know film on the curtain just. You gotta hurt -- The plan. Know for sure. -- I didn't like yeah. Almost give nominees a bag of -- the -- -- him because he also earned. We -- one -- the -- through transaction weren't there are just getting on -- plane laughter Europe and we would have been able to get back troops really haven't put pressure on electric decision and finally they destroy I don't know until we close they're in the always got it locked up and tried. In sixteen days at Procter Greece triggered -- Your best closer Norm Coleman they're built her a couple are -- with. It trimmed their own strode loans. Hey that sounds like a great deal he let you know -- -- I say and I tell everybody this site I might as his hobby once a week is is a bird in the hand or two in the bush -- his business if time. And money in Iran for sure 'cause there's always tomorrow and any news this deal is not as bad as you went to be it's over that's right and it's and it's a definite profited. Profited deal. And the partners we're positions -- were very. Extremely hard it is. Yelling yeah you know and how -- are to live to -- -- we we built -- model or they're real successful. And then we've talked about for a ride across Australia either that was on the market for almost a year and I don't Barlow. Should there are moments. Don't allow him will look Blake coming see tonight if you gonna cover three if not us -- Saturday or tomorrow. You don't look at. Our brother. Hey Juan Pablo call back a few if you can only -- we we lost the connection we have lifelong windy to keep him on the radio and that is us and I think they're gonna stereotyping as an analyst at a long time he's Smart he's got you know these these candidates punching guy he is a very much -- -- but he knows his stuff our analyst and -- for share. You know I'm so one of the things that that you know if you talk to anybody in passing invasion many Mano a state -- long time. But everybody who's who's listening to show who's not a real estate agent. And -- a license spend a few months if you're -- and a part time and -- licensed reasoning as you can -- on comps are up to Justine by fear comps. You can actually learn how to do real estate instead of you know me being -- you know read a book on being a doctor in trying to -- surgeries -- -- can work like that. There's so many pitfalls and not license until the argument is why don't get license is and I got to adhere to a a code of ethics. Well gastric and what you should -- don't go to the veteran -- And if you're not then then you price should be in the business did you did you burn unit you know -- somebody over unionized ever in -- going to be out -- enough anyway. Some of the fan of people get their license and not my son Justin actually kind of pushed my son just think it is license because. Com. At some point are getting in Marines off the somebody he's going to be teacher but at some final -- to those realistic part time and you know Justin tell anybody how hard or easy was teacher license -- had to go through. From what's six courses to get your license and you do that a bunch of different ways a self self paced her online or in a dual thing when you comment you know show up. On to class for a little bit and on me with this kind of a mentor he's a broker for a larger firm in my case it was. Broker -- Caldwell banker. She was teaching -- class and she actually helped me a lot the the six courses there and you know there's two principles of our real estate courses and on any course is it what thirty hours yes I believe so and down you know their. Fairly simple courses you know it's it's a book you read it in my case I did these self paced online. For all these courses and it's kind of skimmed through the books. Took the test. Which was not hard at all but there -- -- -- -- test for the books that there's tests there's tests for each own individual course so you take a test come after years. After you read the book to take the test. And after you've done all these courses you take estate exam and a national exam and has now scary path. Well a funny story I so. It's thought -- pretty prepared for the national test. And was kind of stress and about the the state exam which had a lot more to do with the formulas and stuff that I wasn't as comfortable with his hand down. Ended up passing out one end and missing may be 33 of the questions and then that's at the national one. And literally missed. You know passing the exam one question -- so I'm talking about devastation. But. You know all in all on its. A simple process to -- -- time he got -- yet at the time into -- you do and done you know at the end there are some initial start up fees on to join the board -- -- to license and one -- but let's end run around thousand dollars or 700 dollars from the yeah yeah I -- I have to do and I think we spent close to. Maybe eleven or 12100 bundled thanks so close and around 12100. -- not think it was a great decision. You know don't. Help you get out of the rat race a little bit -- and being generous statement. We'll share and and you know when -- when did license you spend 12100 bucks now he had -- your circle of his dad's been a potential that OK get Fenway your circle of friends somebody's gonna buy a house in Florida you know 11 house you're gonna make that commission backed CNN in -- -- -- -- -- -- wherever -- -- At this Jack in this is why everybody listening right now that's not you know age eighty year old order innocents into radio to order. But -- if you're twentysomething years old and you're in -- -- -- or even thirty something years old you've got another thirty to forty years of marketing that you can take advantage of it with your license. -- like and that's why I was pushing Justin because I'm like dude you're in a fraternity you're going oncology got in X number of millions of FaceBook friends. Com there's no way you're not going to be popping dealers and three to five years junior French graduate they're buying houses sprang from plus you -- know the business plus when you buy your own house guess which you can back it as a closing 3% year on commission looked. You know and and so. There's no reason not to plus. You learn what you eat the housing. I don't know why people who buy homes to live in don't consider that an investment around everybody that owns a home as an investor who really consider yourself an investor not you're an investor summer better than -- that's right but the ones that think they're investors are going to with the mentality is that this is an investment. Those who want to make the better deal was chosen ones I have an exit plan with equity and you know that type of stuff. You know every house I've purchased with the exception of one in which was a big mistake. Has been a foreclosure. And an end just that's how I boxed out by a foreclosure are moving and hang out a little while and Seligman and on. Ten and that way it's a you know treated as as an investment not just that. I've got him much greater degree of dvds in that I fell into my friends and Justin actually did this is actually probably not good this is on that he's -- he's in -- counselor later in life. This is gonna tell us -- -- and a little comfortable sofa. In counseling that we we moved a lot cook and my dad was always moving this guy. I mean we've moved I was body moving to a 34 times a year and a different towns I was -- I was new and all the time election become pretty stable now. Pound you real -- container I've got a container home going in which is going to be a man at the big open house feel for all the listeners and and followed the email database. I got a container dome that's about. Probably 50% done to my property rather than down Leander. The -- have a big open house -- people to -- that but the electricity done waters done. I'm framing is done and insulation happening you did this week and the following week they're going to be Chirac and really finish out there and. It's a -- that's that that's such a cool look in house when I saw it. And my question is this their in their areas that do not allow manufactured homes. Would allow container will they allow content I don't sell low and we could you know you -- -- -- -- -- -- -- -- and there's definitely. Some possibility circle around that well. The funny thing is this is I've got some not some some lots and granite shoals. And down I called the city officials I talk to the city manager -- says you know he which ordinances on container eat it contains a so we don't have an -- -- they're young. And -- so he said what I would do is -- up at the next meeting and find out if anybody wants to pursue this -- trying to put together fine you know put together and -- because. What you're gonna find is if you hitting the big cities across and has ordinances concerning them but as more deed restricted on unspecific Parcells stand in the city of Boston ordinances. Round with a smaller cities are going to be citywide is you know if they can do that right. Com. And I think there's a big market in Austin fort. I think there's -- which which you would assume there was a bigger market in the smaller towns just because of Harley back it is and -- but it's the opposite. There's a bigger market is in the talents that are that are out progressive -- the very progressive city and whether we realize it or not. So -- I'm excited about that you'll be seeing stuff if you friend me on FaceBook to see the pictures of it can't really neat project. Let's give away tickets it is Saturday show. And what. Let's just get the let's get the the third caller to call in human and we get the third caller -- does she do the first caller. Whoever's in about a phone and a massive and I mean in the in the print production within do you don't do that. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And after class happy hour with free alcohol. And you went all out and I did is you know this isn't -- this is a moneymaker former mission more or less just everybody get there and having fun learning from from everybody else. Well two great networking opportunities are in our in the numbers 51239013. 751239013. -- any Blake you cannot call back. Kinda for sharing -- Nancy Keenan Colin and what that one of actually one of my friends on Antonin just passed her real estate exam. Was it today. But yesterday maybe no I think you should pass it today and she she says she -- it I ask you what acing -- -- it. This goes holed up in -- in she is like to its -- vote. Yacht for you know 345 days and she literally when do anything but study and -- bunker and she went all out. Yet how many people passive the first time used to be 10% do not think I wanna say that I think -- the first how much are you get past the age of 100% the first time a lot of power brokers won at in -- -- and -- -- I -- I should -- this. And I I passed national but I failed state because the statement was. How many days for this what's the fine for this. It had to go back and take that I think twice the price if I'm not actually physically had to study memorized but that was the mortgage broker on license the one that you. Maybe failed three to four times -- -- now and that was instantly taken -- sense to know that was the real estate broker when that's the that's the state real estate brokerage in that I I just refuse to study I was arrogant at the times and studying our passes. And guess what many many yeah. Now pay at a gallon our office she as she took -- five times finally she you know she passed it as she passed it's a pass and -- think about attracted -- entire time the Apache -- license distract she did it. Just got it so tell us. The -- show quick Jack about. Something you've done overcoming obstacles when your deal is again any flashy -- Toyota's. 48 -- centers. Well yet you knows it was it was interesting because the deciding Israel wavy and into these thought that was just Austin keep it weird -- jags offense at this time. I really now is just excited about the price point purchasing. 430 something in Sydney some 48 Elaine what are what are we say you never -- -- on this like emotional high when you buy properties in -- and close -- you actually walk in the property just like oh my god yes here here here free canal but. Yeah it was a it was -- -- -- they start to pull off deciding in the end the first guy and it did deciding job today he didn't mark this does he didn't do anything and there are holes fallen siting in that that guy got fired immediately I mean within a day. The next guy -- did you hug him when he left no no but I tell the people. I actually say we left on good terms he understood what was going on -- just you know really understood it wasn't going on quietly yeah I understood what was and gone on or not I don't know. -- he did or not but we we got rid of him. The next guy he had did a good job got in -- the sinners in hand and went from there. Now our next to law school is. There's a nice cracked right through the center of -- the foundation but there's no I mean I shot a level. You know laser. CN. Thumb is it does appear -- or is it not a valid its foundation -- shot I shot a laser level and out of only got one inch of drop over about. Twenty some odd feeling excited now I've got an engineer cannot Tamar really don't believe I'll have to do anything if I have to put appeared to be just to make folks happy and I'll do -- myself. Do it definitely won't get a structural engineer coming out yup -- -- just makes you get a letter from him I am -- analytic chart I mean 600 bucks just gonna say for fifties and have paid. And following up from there via you undecided Tucker engineering -- easily he's he's employed to great sometimes pucker him you know -- Whoever can get out there. So who sell yet that that'll be the net that's the next little you know news that -- overcome. It's not not a big ones -- How much how much in this is for Justin Jackson studio is how much do -- think if you discovered and a slab foundation. -- -- governor breaking your four inch piping your slab. What do you think that cost what you think the term we charged that takes it personally got to get a scope seniority is -- Indiana's coach nor the break is in the slapped. How much it'll cover charge get the -- at any ideas. On on the level are you know well I -- name names of one -- charges a 150. Dollars a bullet to tunnel underneath. The USA they couldn't tell -- they're busting carpet -- and allow us -- They're gonna charge a lot no I don't know. -- -- finger and now it's a -- set that's when he 500 to five -- what you -- -- -- -- it's that I mean how many breaks is a maybe a tiny bit less that. But don't know how much that physically cost of materials. Yeah I'd done very very -- Sackett creed and some PVC pipe and a little gluten that's right and probably last thirty bucks you know and diminishes the harder it let's just round up and -- bucks. Because concrete about three dollars a -- name -- four or five bags that the PVC pipe may be -- small section. Ten bucks -- you know that's so retarded man San Antonio last week you know what it would that would -- -- market the way it is you have to find ways. To stay competitive and that's one way to do it is to it to you know make sure you're not overpaying for four repairs. And such. Yet -- the scope cost and I know we got to college do we have a -- she used used to -- get -- unless you kind. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I'm glad to do I don't at all -- pay for a slab. Not to -- To be you know busted -- and in the foundation for plumbing repairs if if it's out of town one of my projects and then if he's in town in my project you know other enemies -- camera when he just not a got a Tiffany hammer their ability concrete just trying to take longer fun and I have a whole thing fixed I'm talking you know busted up -- out. Pipe exposed and fixed and probably about three hours. You know take me not typically will just go hog wild with plush stuffed on a total interest not only canyon ranch and and in wire -- some water. And then after that -- that sit for a day just to set up. And you know the couple hours in the back into the hours and we were talking Barbara six hours a labor. And on Gaza material and you're seeing -- -- a couple grand BM big time Big Ten now and the scope that's about 25300. Or don't hire somebody how you handle and I paid only to 400 dollars that the -- -- they can't find it I had I had. I Shea -- we got to take a commercial break -- we get back and say you are safe to clients. 6575. Iron Lady named Paula thank you know get back -- a how to save us. I really. Welcome back to the real estate investor power hour with Danny Weber. If you have a question for Danny don't be -- -- now. 51239. Out thirteen seventy. Hi everybody welcome back we in that sit down put together the music before they showed tonight we get some print some credence Clearwater. Revival. In this and John Cougar Mellencamp but topped off the hour. Paying record eighty gauge right now a lot of -- -- bad now so I was gonna say top top the -- some like that it had a a couple of terms he's now Fatah but but we had a -- that card and we used to starting on the radio for the last. The last -- take it when the tickets we gave way earlier so. Ron thanks for Conan missed. We will talk to you later. Come. Real quick I was gonna -- how I see -- seven grand. And this is a true story am talking this is a true story as of about four months ago -- -- I'm I'm aware of this one where they don't you know you know I know you know our so pulled out. So she had she called me GC project when they're looked at it and the first thing was -- to fix the foundation the -- -- -- foundation I think it was supposed to be three breaks. In the plumbing in the foundation this is it didn't make sense to me from the beginning because it was only about a one -- -- -- peered up this house but only the front corner says only about. There's a inch inch and a half off and we picked up one corner of the house which means three quarters of the house was never touched him with a found -- to punish never root. And tell me if I'm wrong but if you've got to sewer leak you're gonna have he even have a drop into it like depends on it depends on how cold it is and on other stuff but. But yet typically if there's water leaking everywhere he has swells up and Mary I just dealt with that on -- house that. -- under contract last week. Anyway so there was -- -- foundation issue -- three breaks in the and there are enough on the slab. Three different reputable plumbing companies -- talking reputable plumbing companies came out there. And told her that that was true in -- or cement and the highest estimate was I think 7508000. -- with 6500. Massive part of the highest amount. I am who tries not as you can just finish the job done. Well but it still never made sense so what we did is they won before we started breaking up -- -- paid for another completely independent plumbing company when they're scoping. Canada and a construction partner Chris out there brokers has us a Christian not leave this -- -- house. Without look at every -- chip IP so I don't trust anybody just be you when you look at this but look at everything. And so two -- three hours later Chris Carney said man we can't find anything there's no breaks despite not. My main -- look at the whole thing and I went out there. And it is turn and look everything that I knew you know trust Chris and that in the plumbers we're -- same thing is on a breaking despite. When it happened was. The people they -- the pressure test. He didn't come didn't dig out the -- about the cleanup now was buried in front garden so they did the pressure test from the street. Now in India and you're associated with the best from north of that of the clean -- about Bryant. So that's what started in the and we had a few unscrupulous. Farmers -- there and in it and it cost and curve I think 12100 bucks. Something like that -- And that's including us Dixon a few PVC pieces and tore it rings at the week change at a to a friend a couple of things work in this with the plumbing. But she saved you know roughly five grand plus and that's it for computed being completely taken advantage of. Yeah -- in you know in the bottom yeah easy enough she could've. Issues wanna do it today you know what does she want she wanted to make sure she was you know delivering a good product. I typically will do hydrostatic gonna test myself I'll go you know I got this little deal cost me like twenty bucks it stops at. By the clean out stops at the -- Take the commode off fill it up with a water. Right up to the brim and you let it sit. Hour two hours three hours four hours to come back the next day if it's dropped guess what you get from you gotta leak you better scoped if you -- if it hasn't dropped. You don't have a -- then you've got to beat the best and the bathtubs as well. Because a lot of times that Little League you know the the it there's a little -- -- downright rotten underneath there and that'll Kuroda out. I had one in round rock that they passed the hydrostatic but when -- ended that. We need to heaven to dig that -- there's not a big deal. You know is that he picked -- determine you know mountains the Eagles for. I mean you know one of the things -- preach. Across what is don't trust anybody. As a slippery ever builder not so not as important as on the construction but -- rehab her renal landlord they do encourage self. Look at everything yourself if you got rental property out of town on which I never like every room property had his within an hour of my house. Don't you got to trust people now like trust -- because -- just -- I trust them with my money. You know and so I always like to look at everything that I do even just a pain in the butt hard drive out there and check out our our repair myself. And so and I don't trust anybody guys different it is -- -- news you're -- get -- sooner or later minimize your chances of that. Let's take another call though for Saturday's class -- I'll let us know the pipes to NI tenacious and -- you know don't intimidate him when he -- the phone Matt please Hamad told. 51239. At thirteen seventy. 5123 and a thirteen seventy. I'm got to ask the east and you have rentals. Woods in an hour of your house now rentals. -- -- -- on elements. Not your favorite things we still have some I do. I do -- any come on I don't. Why -- -- you know anybody knows me knows that I can't pass up a deal. So if these in Justin's actually went with me he was actually stand there about a couple Reynolds and in green it sure as I got two houses and I think for actual -- three actual watching her initials. And I did -- of finance and finance -- out there and and the guy. I got two homes. In three loss to Reynolds clearly with zero work put in the journalists for under brand. -- -- -- I went out and offer the Gosselin by the best I -- -- ten ran down. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And just didn't hit his face at the ground it here I got -- I can't believe I'm just said that dad. You know -- any that was a conversation we have cars -- data can't believe he just did that but the -- to the offer I get to Reynolds down. I'm cash flow and I think six and embarks on to Reynolds while my note and any other thing is guided a fifteen year note with me at 3.5 percent serious. Wow but these types of things you can negotiate if you know how to -- -- -- finance. Yeah how well they need just come out with a you know you don't you don't have any fear you don't you don't worry about hurting the other guy's feelings you worry about hurting your round which is. It's business where a guy yet you -- you handle that very well I that's that's really good -- 523 and a thirteen seventy. Com gives a buzz if if you are in -- town and and have your phone -- and curious. What's your best. If you gonna do an owner financing and do an assumption -- -- kind of what do you look for an house to mean is an old house with a lot of repairs is of these and you house that does whenever we're actually covered that in each on a class act Carly OK okay nobody is a good question. On the edges both found the newer homes like if you see -- Tony thirteen or 2014 model on the market you really 2013 is easier tell. You know its -- which is Billiton was just purchased. Whoever who typically whoever's Orleans only been home about a year if that is they don't a lot of equity in the home. So they're not they're not you know. In some energy can -- you're not paying 200000 -- from home December 2013 and getting 2.5 fort Payne junior -- fourteenth -- Some Casey she can't but in most cases you can't so what we look for but when you look at -- -- homes as you look for something with a small spread. Because you know live a deterrent has on our home they're 6% commissions to a brand and they are closing costs in the negotiations. Well you look for homes that people are gonna have to bring cash to closing this sellers. In which he usually and you offer you say look I'm not gonna make you. Hate to sell your home how much in 85 bring you walk away from home for five years. I'll take over the know he had no maintenance and you know particularly -- that's taking you log in Trier was cargo a year. Bank of America would ever not get that or give me your account number and I'll go down and pay it every month beginning of the month passing a copy of the receipt. And typically when they hear that they get money. And they don't have to pay to sell their home they're excited though did the deal but some people wanting to buy another home into the people that wanna buy another home you -- this is what we're gonna do then. We would do a an owner financed deal would do lease option of buying. That way you haven't executed release. When you wanna buy your new home you can right this is drilling com can offsetting -- -- so -- know it's basically dead when you get income ratios. In -- you exercise the option to buy at a certain point paperwork started slowdown already agreed to. And it's yours is that gives an opportunity to get out the house with some cash go buy something notes in the new -- finance it it doesn't hurt anybody everybody's happy. And I've done that a bunch times I got our own property in. Granite shoals cost in -- Kyle. You won't pass -- a deal I won't pass up the deal and I still host -- signed deals. -- -- really don't let the owner financing and -- -- on coming up you know probably next week we just agreeing on terms. -- based -- an awesome deal did it once and Marcus were -- and he got back and you want to look at a house in San Marcus. How's the 2000 New Braunfels and really didn't work out the lady delay told machinery she just listed with an agent and I'm not -- look at a house just listen with an agent yeah yeah this is Donna and I get in the rhythm of competition with anybody. Fine you know that some and one of the things I'll be covered in class a -- you know what do you. What do you say when you're talking to someone off on the phone what are the things she's you know. I really just this is the first thing -- amount they say what are you trying to do page Jack thanks for I think you're trying to website the email on whatever kind of marketing and it. Com I see you're known -- house will be trying to do it didn't come what's the best out for you. You know if you do make you into today what would be we make you happy. In in a lot of times what did they tell me is exactly what I wanted to if hitters in the time that Tommy something that I'm like all right I'll do that today. And so after they say something that's at least palatable if they if they -- when he was on the crazy like well my house is -- -- 151200000. -- Com are much less on hand and not out out of power station equipped to look I'm I'm not doing that this is about what I can are gonna kind of his. The guys are coming really hard when you're gonna have to give us a chance to get to commit to going another direction to learn that across the boy well most the time. So they start off reasonably. Calm. -- with some type reasonable conversation. I immediately sent an appointment in any component CNN to bring a contract and every check for yet. Com you wanna close next week or next month. If you close if we close next week with a temporary residential lease back came when you get into residential lease back to sellers you always wanted to hold back you never say -- You know fifty dollars a day for thirty days com we're -- to fifteen are not hold back which you think there's a lot of money and then and well guess what it's not. If you give to somebody five grand. EC we knew at 35 and Arnold back then ended the day keys your house you to another check. Meaning is they won't Milken out and then if you -- to a foreclosure position guess what you're you know yeah you have to creek. -- especially if you don't know refining activities and you get into some legalities that you get in front of the judge. You know and in most judges don't don't know anything about this -- -- Dodd-Frank stuff with him when when people targeting suit thing you got frank qualified mortgage standards that they came out early this year. It's gonna go to judge and the judge and -- and I don't know which are talking about opening a judge and he's gonna have to educate themselves from top to bottom just to get the first you know -- done. Yeah yeah so. -- You know I was so you're you're right right out of the bad I mean it sounds like it over the phone you deciding whether or not -- -- -- -- property -- about 80%. Plus or minus yeah plus or minus and then I go out there we talked about this man I have -- have one to force the contracts that exclusive right to sell -- -- exclusive right to leases. Tom I do you know afterward I think he did you ask about this is and that listing agreement right about there and say you want 153 home no problem -- guarantee 150. I'm middle -- -- a wave my commission in whom -- commission -- -- -- -- waking eating over the 150 anything over that the net TU 150. And that's such as that is a very that is a cool idea man bad debt that needs to be talk more. Well we're dealing with the nature right now I was doing with agent. I'm burning man that they're so. Black and white and you know. Bread and butter real retail real estate agent and I hope we got some retail real cities that don't invest -- -- in the -- -- learning some you know officially real estate is out there they just. And I'm gonna see morons in a polite correct way to -- but they they know I -- a -- one direction. -- and it would just hard. Well -- -- -- that's what you learned as Wichita and then there really is but but at least they've got it now they wanna make that transition. To investor from being a real estate agent at least they have that experience to bring -- matches which is huge. Absolutely and so on -- you know couple minutes left on the show we got to know we needed to cover three after the show. If you're listening you ran out there now we've still got a couple seats open -- I think he's a very few seat few seats open for Saturday's class. If we wanna work hard to put in the show now we'll get -- taken if not deny you know -- that some people responding tomorrow and -- Friday. -- -- Friday on. One minute left on the show we got -- one minute to do. We've we've got a little notes. Yeah shall we know we had a listener from from South Dakota. Right now South Dakota South Dakota hey Chris yeah he just. He just detection means that hey listen show it's a great day gracious. Mean we we have gone nation why don't we have listeners in Boston I know well my wife may be listening in the Philippines so we may be worldwide -- recovered three do we start -- just entered into a state. Already who do the setup to keep the Rogers and -- forum proceed to listen and good night with C coming reject any -- -- -- right now yes Levy sweetheart Tennessean a couple weeks Coventry got to see shortly.

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