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KJCE 1370AM>Audio on Demand>>Real Estate Investor Power Hour Podcast 08/21/14

Real Estate Investor Power Hour Podcast 08/21/14

Aug 22, 2014|

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It's time for the real estate investor power hour with Danny Weber. If you needed deal turns your revenue producer Danny has completed over. Real estate transactions and years he is a licensed real estate and mortgage broker and -- Loan originators -- insurance brokerage in Texas and enjoyed the conversation by calling -- now 51239. Pounds thirteen seventy. Now here's Danny. The real estate investor power -- again once again on this beautiful Thursday high. -- summer night in Austin, Texas. -- we've got that Jack treaty here are our. -- -- -- You know I'm excited because we've got four realists they broke I was -- we've got one attorney in the -- -- got some on this speaks Greek in namely Scott Stanley got a guy he carries around those -- keys it's. In his little traveling carrying case you know they can't get and a camera and a -- it's got to be a great show and three radio veteran so I mean this is going to be gracious. So we've got Jack radio forests we've got Blake Dunlap whose been relegated to the corner telephone with Cameron -- executives and -- thank -- -- any -- -- being cast showing you. Profanity and into the got a special guest -- from Houston Don McLean. An -- answer. Now don's gonna talk a little about he's with come because easy house fires asahara's fires icon there any -- -- groupies don't talk to them about what they -- tonight. A bit later in the show. My first things first -- the big news in the world today is is Ferguson who was been a brief moment talking about this -- related shooting here. And I'm an ex cops I can take it on this is never good when it happens to begin with but there's no. There's no positive or negative -- none of us were there. I know what happens and a my -- my two cents on that as a new law enforcement guys listing him and I know exactly what happened in -- -- are -- on FaceBook well. Let's talk a Chinese and now I'm an expert thank -- so that emulating it in that situation gets out the best that they can. Let's get on the some positive stuff now let's get onto. Marketing campaign and you know I don't know what -- sane people are -- 9% of the investors in the world and I was an issue always when -- ought to get more deals contract. Thanks in so it Jackie went into how far did you get last week. You know we kinda right towards the end we we kinda -- like a lost a little bit of time that we went through Cerro campaigns we went through our MLS campaign briefly lived through our pre foreclosure campaign. And then you know and direct mail and also a kind of a door knocking on door hanging campaign all of which are awesome. You know it depends on. Where a year and act as an investor I mean our guest -- -- -- -- this. That's right right end on -- that's. I I Don definitely takes it to another level. As a wholesaler and somebody can turn ten deals a month diesel and melancholy tier two investor a lot of us are more into the tier one or overdue and wonder fifteen deals a year. And it's our our marketing strategy is a lot less then someone like -- Probably similar to when he does is done in the volume that's right exactly and so we got out how many you've been a broker -- -- And so that and tell me how many years I don't even they just one day free or any foreign money are like they're alone Cormier and Tony. Since 1992 I can't be 28 and K ninety team. ADT I need to know 82 days I was like in thirty -- you're getting hurt how. 32 years he's been adversely jacks and a broker for how many there -- -- mineral estate about 26 years skin and that so that's great defense a lot -- -- twelve years an -- at 68 Dan how long -- been in. Litigation and real estate 25 years so we're at 93. And -- -- bought my first house in 1989 in San Antonio Texas so 27 years broker a hundred years -- real estate experience other opponents I know well we sort of knew every day still a high. -- that's right another area if you got a question. Number to call us five point 239013 751239013. Seventy. One of the story I got a quality video from -- was in the show for the first time on -- Lady -- is she gonna say eight. I listen to show all of the show but nobody says they were beaten like -- use of the end of the show came into and I think we -- our -- at the end Jack or something. Now while we were really in the zone and then yeah they'll let us and we just get so carried away while we're talking and turn him and we forget to identify assess and things like issue we just know you're tomcat Delaware name tags -- -- yeah her name tags -- -- it's. Some sort of problems. The you know what Gainey and you said marketing and I just had to tell you the last thirty days have been really good and we -- a guy that we got out and done some some tier one marketing you know just just really grassroots getting out there and knocking on doors. And we nailed down three deals in the last yea just knocking on doors -- and it's been eight you know I say knocking on doors we've we've. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I don't know Ed Donahue had a good success a better again your -- -- not really going to be out there knock on doors Alicia I dogs I do know Carmel mountain. On the ground I do my own deals to we have guys acquisitions guys in the company and still we work remote. I tees were motivated but people wanna so quickly without the conventional real estate sales channel you don't have any agents titled -- TARP amusement closings. I pay -- ordered. All the Tim Reynolds have a easy way to Mina real -- commissions closing cost her peers and -- except -- -- -- as we try to avoid offense so it's amazing -- still report -- started theirs you know so much going on a positive in the -- to market right now so -- so -- all right but it's still some people wanna sell it right now today. And that's how we try to help -- a walk we walk in the guys and just try to -- what is they need how long they need to have -- than for the need and that's what we did so worried neighborhood that will put a door hangers on properties that time. -- looks like to disrepair Harbaugh express our runner up whatever -- put adoring her on in Haiti was so you ask it was a call -- no hassle. And we put a pin on that -- we did that we leave and it's hands direct me home. Web sites apps web apps and people couldn't find us on an apple and android so this kind of cool there's not one thing that works there. There's -- they're all work and I'll work I gotta tell you about this really cool no -- my guys designated it is. It's probably something I don't do this in trouble one day but it definitely works here's a vacant house them. You knock on the -- -- today the little door hanger and that is a work trying to use a stick to sign in the front yard says or sales. I put -- I would a question mark on it and input your number I Leavitt and the neighbors guy that guy and guess what that guy Dennis because it. What the heck are you could have trying to sell my house note now there's a question mark on it isn't for sale and he loved it then yeah you know -- -- dad I'm. We'll call you back they will call you -- there if there. I cannot comment that -- a -- he -- I can only imagine as for any opponent CNN Barbara I yeah. I thought yeah yeah. Make other going to be irate are -- but it's okay. It was a question -- enlisted Youkilis on the front yard this is I wanna buy this house call me. Just say about us is gonna say like that was better than I think that is so I mean. The guy out that's guerrilla marketing is a bit -- Because being assigned everybody knows that like they had a lot of people that I know that but obvious signs on the do you think a month. I'm not already taken mistakes because I mean from my own -- Have come please come to my house and Leander but when my corner he just told us owning -- he keeps right next to -- -- and -- and cancel work and do it happens when -- clips and the now you know I think on the -- there's got to be a plan B that's. -- -- trip because so let me talk talk a little bit about let's get back on the marking is that that is you know again. Everybody. Everybody everybody is always -- for more deals. What oil without marketing everything dies in the right now if if you really trying to get out there and do something you got a few well what what's today the 20/20 first. You've got a few days before the end of the month in the first Tuesday of the month is for closure times trip and so that's right -- and so what happens right now is it's about right now. Where these folks have received in the pre foreclosure they've received 15202530. Letters. They're just now getting the to the reality that maybe. Their house is going to go under foreclosure. -- knock on doors this weekend. That's a great time to do it because reality is starting to said he and they've ignored all the letters they've ignored all the door hangers. But they're gonna listen to you now so if you get out there and knock on the endurance I have liked to talk to you about options on -- -- your home fronts this seven out of the ten guys that we talked to weren't gonna give them information to help them save their home. Our help them postpone the foreclosure 12 or three we're gonna -- we really are in in in a situation armored disseminating information and helping -- I shot a video about that today about how we as investors are really out there helping the community. Because you look at a Stanley day it's going to a divorce they're worried about where their kids are gonna go somebody's had a lost in their Stanley. The court. In Texas -- for clothes are the trustee can foreclose on their property 21 days after notice 21 days that's not a lot of time and so for folks to really get their stuff together. During that period of time and to be able to think cognitively about their situation it doesn't happen so when you knock on that door and you've got a solution form. They'd listen a lot of time. I guess a role play with me you knock on my door. I mean you're the fifth got knocked on my door this rate islanders say. I'm not interested go away what do you say OK that's it. Yeah I mean I don't pay depends on your demeanor I mean if I really offended you I'm holding the door and I say OK hey well you know I've got some options -- can help save your property I'd like to take five minutes and talk to about him you know. The thing is it's a numbers game you're not going to be able to convert our turn every now and now this is. I get around that -- if you do that to me yeah. Yeah I would say hey I've got a fifty dollar gift card -- you need to administer your time that would work rebellion no lights and -- finally you sandy Franchitti Chile's supreme. Almost -- he had to be Home Depot gift card for me personally think -- really card now if you could. Not the guy gave me ten minutes I would pay I would pay fifty dollars to hire people -- ten minutes with them play you know I know mitigate the deal and I mean that was the -- -- just an -- -- -- -- Oddest off and Dorsey -- -- -- everything worked out -- -- with a for some options. Its own -- not threatening just got it worked out great. He -- LP please let me know what to help politics really is a card I just -- about well until I tell us -- Chile's island Isis says. Well known brand -- that yeah I would never I would be ninety unity bank Julius. I don't -- -- cattle and I love it maybe she carried like a collection along and talk to any of they would let me do what I did you know I used to and I haven't done -- -- -- -- -- -- I unlike -- -- -- -- to -- Starbucks cards -- -- finding -- -- garden -- -- somebody's. If it was if it was even hinting around that it would be doing any type ID McCarty he used to -- -- you know private tonight get -- you be surprised. How many people think feel obligated -- only have to -- anything I mean yeah you've just give him something now they feel obligated I don't know many people that would take. A fifty dollar five dollar party's women doing your face. It now you know an implicit point now I guess. That reminds me when -- tonight you know went out first stint and it went when your first starting to do this kind of stuff -- you know he kind of need a crutch. We went and bought a bunch of lottery tickets dollar lottery tickets and we showed up but that we showed up to house knock on the -- you feel -- -- -- we've got about five minutes -- talking about your options to save your home and you know you -- actually there was a couple of them that didn't want to take the cards most of -- did and then another Wednesday -- Christian and he was such a good looking guy they opened the -- I mean this one lady was like I. I guess that's let's say he's everything you can't tear you know you're managed but the lottery tickets actually worked real well and I had I had forgotten all that no one knows it's a buck. Did you know I I started even lottery tickets away to people for for birthday guess I get between our tickets and I mean they get more enjoyment out of -- copy of it they did and then then anything. Well Jeff what do you do in the -- to the pre foreclosure market what about probate or out of state owners are. You know what ideas and and again I'm not I'm not what I call a -- to investor and tier one and I -- once Fraser's idea on. That's act exactly. That is if you want to -- one to fifteen houses a year and you know what but we maximize the profit we we don't have turn key as solutions for construction. Where you're gonna pay 568101000. Dollars for Ruth I'm gonna pay T 34000 dollars Max and I got a double bruise pulled off I've got addicting changed I got to you know three dimensional shingles gone on. The whole nine yards I guess so first here you know we we maximize profit minimize volume. -- choose you're really turning him into a huge business and just go to war -- I heard we got when they're probably. Marshall and a some didn't Syria once -- commercials. So we got a commercial crime commercial break coming up here will be right back with the show. With our special guest on the plane here in -- that's an office is. -- Welcome back to the real estate investor power hour with Danny Weber. If you have a question for Danny don't be shy -- now at 51239. And thirteen seventy. Hey welcome back to the real estate investor power. Who's gaining wherever we had Jack Grady. County had a game Castro. Don McLean is eleven years in the woodlands area and enough to -- -- is patiently sitting in the corner. What this does psyches where it has -- his disengaged and now I don't know he's on my third one system you'll enjoy -- have any specific Beers Texas. Go to China we could say something. But so often are fair game was asked this question -- -- about the question what are things are very good question it annually in the Summers up wanna talk about -- you know what. Games ask him what everybody who's been on marketing from want to get their deals. You know the last thirty days those those three deals. We have access to direct report which costs us in five counties about 12100 dollars a year so -- 200 dollars a month. And gas and car. That's it. Somebody and you know you know there's there's the marketing budget and will will make will net well over 60000 dollars on the street deals so close you're your milk cards postcards or if it if -- and -- again and I'm I'm making this category -- -- tier one investor you know our our marketing is sporadic -- when we need it because once we get a dealer two -- three -- in our time -- focuses on maximizing the profit out of that -- we're running the contract and that's going -- we're finding the -- that can -- at 4000 dollars and -- 4000 -- refining the -- for that can do -- for 2000 dollars -- 8000 dollars and so is sporadic but -- the most I've spent over a three month period of time on -- -- 2500 dollars. And man I -- a lot of. For three months combined necessary not -- combined. Less then a thousand per month yeah yeah yeah your -- discretionary and her. Competitor in battle here as a calculator out and has -- -- An institutional and Don tell us what he's been on markings that just a Jack's got a lot of grassroots a lot of actually sweat equity into the into the marketing deal about you lately coach that you actually do the rehab yourself so you're doing -- all these properties -- -- so we're populous part of the difference too because a deal to. Does this he really good deal for you. To do it. Right asked -- in fact you know fairly sizable deal so we do more volume base your question quick. Game -- person probably ten to 151000 a month consistently a marketing every month it is generating about 400. You know inbounded. Interest of what we're so offering and they all have four per that the dollar figure in Houston alone -- certainly logs we know we aren't. Well that is a white Christmas. He's a statewide but a majority of his Houston yes sir would you -- per -- -- pretty heavily Houston Galveston. And what that is that where sixteen carries we kind of target right now. And then dollar figure includes a billboards radio or just -- louder when Israel announced Internet marketing advantage on training time during your training deal do paper clip can Google AdWords -- -- -- I've got a company to sell from -- -- do naps but I don't pull the trigger and yet we have apps -- and hamper seller more than one episode you know -- market -- I wish someone -- some public relations and he's -- -- so she's doing battery issue on Monday they're under and -- -- so it's it's like a sitter leaves 91 thing that. Mean they were doing more mail asked that we dropped two point 700 pieces on Tuesday to out of team -- -- -- keep our head vacant homes very specific. And is this this company is doing this isn't just you or is -- a consortium of people. Who was that saw the -- now on the bring in on the company and then I have some acquisition -- office. We get in dale leads we farm out to the various guys they run the leads have access corporal who was at its worst. They have an idea -- what values are repairs are not an idea. I would do this it okay occasionally he's in his foundation work -- the -- is did you think it is not my camp it. So the reverend all the believe Tehran several myself every month as well. And we have what type of company common -- title that we use in their greatly help the probate -- eighteen if they fix anything I love it. And so that our Barbara I don't work and which were under the system and then when we get them under contract would at a price that makes sense for the owner -- they're happy. The only market -- investor base which we have about 30000 or so in the greater Houston area while good email blast primarily. And then we you know launch of pressure right it's a good deal for her body -- so within a day or so nice. -- -- -- Clean you know what I found interesting that's of course it -- and catching underneath. Is that you mentioned you are targeting -- absentee. That's what he just just get tough on them man and talk about an end and I know a couple of guys have done and and had great success I've had great success. It's an overworked. Ballistic but you know was it works I play my kids want the right time well tell that it's everybody's time it's. Always Tina -- dog finds -- -- -- and Brian and that's what this is about because it every year you know the foreclosure -- gaps and he Lucy Harris was all these other list and they there's not it's not like there's an endless amount -- is limited data -- -- coming -- you know -- -- we don't either an absentee or not. So that there's not. You can't create a market the markets here in at least on the same market but it really is about timing. It is about time -- almost completely because five against any team earlier is five people knocked on the door today. You're number six. The leader of the guys finally in some -- really gets in my eyes so I mean seriously it is my life now they wanna talk to me I got a I got. Our question -- -- different jacked I had so when you -- come across would have eight. -- -- -- -- -- -- times we try to contact them for three -- you know I had one just recently we contacted five times distract their on the doorstep we you know we went and knocked and knocked and and kept talking to and kept on contempt. Finally got the house under continent so you just continue to follow up front if there and until they tell you to stop that's right from the way you know where your campaign eccentric with. This doesn't sound like -- work. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Always sounds great and people go and I paid all this money to the guy said that on the Internet. Nine I've got a question for I guess what's in paperback anchor tenant two hours that we take halted sheets started this or how. And a -- OK idea the biggest thing is curious to do any of them credit publicity they help you. I thought they do your own companies to knock on the door now and as JavaScript until the next insanity. Actually like a lot of the things I mean I had. I've spent 60000 plus some gurus and -- actually if he if you include -- Craig -- into real estate arena. -- this -- probably 80000. And you know I I have gotten that returned back I think I think education is good but. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You really have to break it down and do what makes sense and you can't jump to as a -- to investor from day one you just. I've got guys I got in I hear this all the time from guys that I deal with his I'm not lifted a finger on this we have a higher everything out I'm not going to be in this unlikely here you know -- you're not big enough to make those decisions -- can't I mean I've been doing this for if you know fourteen years at least an -- I still -- my job -- almost daily if I -- an active project. I don't trust anybody to spend my money let me. To -- you know. When you have a huge enough marketing base and budget ten grand a month fifteen grand a month that you can bring in all these -- then yes you can you can -- -- can't write EA can't be any size they can't you'll you'll -- as a as say beginning investor tier one investor he'll make ten to 151000 dollars more per rehab. -- to -- -- absolutely because he again URG shaven the cost dried out a year construction -- yet it may take you a month or two longer. But isn't it -- and and you know what it. Again it's a safer roads to take as a tier one investor not to get everything you don't outsourced what is -- totally lose control. Haven't even more importantly than that is that you don't know what that's going on I can -- times I've dealt with folks that come into rehab to know you know. That investors just recently that hey we got you know. 6000 dollar coming down illegal NSA knows about a 500 are plumbing job and turn right in and a new investor is gonna pay the 6000 dollars he completely senior manager where is a seasoned investors -- -- know that that's not accurate. Same thing with through same thing with foundation same thing with framing same thing with electric is that if you know what -- doing. You're not be taken it and get as much used to indicate -- -- could you not going to be there literally minute -- minute. But you're gonna reduce the amount of times irritating and if you're gonna save a ton of money and you're gonna know up from a swing if you bid. For 5000 dollars that's a two hour job you're Ian knows that that's all right. He deals they used -- no -- -- numbers aren't you know but that was such a cost that it is kind of -- the new guys after 12 or three deals just regular steel frame -- track you know those turnovers and it. Can I ask you this guys went as far as an investor anyone start now. Do you think it's not gonna give them -- -- wholesalers or do their own marketing which one is better from. Both army Rick it's good and named Danny you know you you correct me if a -- I think it's it's great to do both because the first thing as a beginning investor. When the phone rings three ring. You know it's like a deer in headlights I don't know what to do you're doing good to give your name out and so you're gonna blow through 506070. Leads. And not get anything you're gonna are right -- contracts and not get anything and you're going to be frustrated. Well so you leave 101000 dollars on the table or 151000 dollars on the table. By buying the house from a wholesaler but you know what. You've got to deal now and you can start work on the considerable has added I think it's good in both the you know a source did and I think mark. In his -- us I green I agreement on a percentage act and I'll bottle similar deals and she's on my own marketing and into my deal is. Both of whom work at the numbers right on the deal with that the things that I I caution -- really big time about the same -- in the industry knows this. You can't trust anybody in this industry if a wholesaler brings video you've got to assume every part of a deal is -- -- until you actually absolutely until you don't with the value -- right faster yeah I mean if but -- -- a hundred years that you've got to assume eighty until you can prove a 100 -- and you cannot use their -- you can't -- you know he had estimate you can't use it Stacey and her brother picture -- veteran -- -- -- sexual acts as the fire and I try to. Ejected for violating any you've done all the due diligence in the and you get the deal it's a comfortable do you verified all of them and you got to know what -- -- -- -- to that that's part of the experience is if if you you know a lot of guys are buying -- deals and they -- in the wholesalers estimate of rehab. In their numbers and the host -- estimate value and make it in they're not leaving an appraisals are leaning on these houses. So -- so so everybody this everybody in this transaction subjective and everybody is the fox guarding and out from beginning to end in your expecting to have a good deal on the back end. You have no objective parties -- deal including yourself. Brian how -- -- change how we can be successful in this transaction and any answers. Luckily you may be bluntly you may -- something out the biggest. Foreign investor insurgent nervous -- sorry Aaron if you do find a wholesaler and that you like contrast is the maintain their work with -- little -- -- out there. I'm one myself occasionally. -- -- that they have to be truthful muscle cells are truthful or not -- values repair cost is a waste waste their right time is the biggest thing so when she possibly can actually work with -- -- we above investors repeat investors and they know that we give them. We say what it is it is you know that and a stepson. That's the biggest thing as an investor reinvestment. And it certainly also realize -- 88 cuts -- a lot of the that hassle on the front end for -- again for the beginning investor tier one investor. -- number one remind deals recently bought as as a networking deal he could call -- -- wholesale deal there was 121000 dollars and president. For the Joan and I bought it from his his total invest time was probably 45 minutes into the deal. I had no problem -- that because I'm gonna I'm going to -- and it's going to be a big man here. You know anywhere from my 45085000. Depending on and try to push the value do good things on the house. So you know not a bad tonight -- -- everybody it would it absolutely was and -- do it again ten times he. He paid for -- -- get that lead though he did something it's badly actually he said in a chair right where named after all -- -- phone rang and he picked it have been converted to deal. And that hot water from a -- yes I. I don't pay dolls and targeted the house -- great as a great desecrate deal for everybody but yes out. It Danny pay for the marketing and yeah I think differently and referral fee I think. What tricked into its. -- -- -- -- -- -- -- just Miami Heat our value cannot and I thought you were off frolicking in Greece probably silly you know I'm never gonna mention there clubs and I know I'm really not as I look at how. Off the table who would regret that now you don't. Something caught feisty TO and don't need and make her idea being that so as a mother I got I've got some wonderful food being picked in my house right now. There -- -- but but. You know I I it. Heavy very healthy distrust of wholesalers in the article the other one on one myself but I -- and I -- and you don't trust and everything about this do this in my mind about everything is an absolutely true. I can't -- they'll verify. There was a deal that today if our member when asked her -- -- -- there are one of the real estate groups and in the area you gotta dance and I did the numbers drop our I didn't numbers this way they did numbers that -- lost some money it happens. You know play it every eight. They there's no full -- deal out there you've got to deal due diligence that. -- to be where. To be where the guys that asked for non underfunded more earnest money that day the first eighteen hours of talk but just last week the first DCI house if you got a wholesalers in any 5000 -- tonight arms on to somebody else. And you have not had time to verify everything in their money's nonrefundable walk away actually when you get you -- -- -- before you pay me all -- -- I I would I would I don't mind. I don't mind putting earnest money even an option is approved for median between is this because I do realizes even as a wholesaler the contract is very time sensitive. So if you came to me and said hey I got a hot deal on -- 500 dollars tonight -- -- probably if we 24 hours. And I is that refundable no. I -- KP in a 500 dollar one day option fetal wholesaler that I know has to sell this property in seven days. He does not have time to joke around I understand a lot of -- I understand the logic is not -- To me it's worth 500 dollars or anyone day to you qualified disqualified property IP and I will not pay and never pay. 5000 dollars nonrefundable no inspection no lady I contract. No absolutely no matter no way that there and you said when I get an inspection I think if you're -- an inspector in an investor you're probably -- the wrong things you need to know enough about that property when you walk through it and given an idea I always have somebody -- -- Here's where here's where I'm gonna disagree politely. I hired inspector for every house -- by and I know what I'm doing probably most in more than nine naps in the investors and even a wholesale deals yes yes and let me tell you why I don't pay for a full inspection I -- John. I see John here's a 150 bucks come off his property I'm looking I want noticed that she rocks cracked. I only look at all the major systems through PH TCU -- -- and I don't even your I don't even get a report he sends me email. That says these ten things I would worry about these ten things -- problem. And I pay a 150 bucks I would do based on -- in my face again because. The whole point of my system is to take subjectivity out of -- and I get I get and I get an inspector out there's an objective party I pay for an appraisal -- every house I advised. And see that's interesting because I do neither of them I cannot deny an -- I haven't I. I haven't ever hired an inspector except on one house and regretted it but you know LaDainian I like your idea highlighting -- board. And and what about for the new reasoning Jackie got a lot of experience doing this but I just graduated from XY ZQ school I walk and a house to grant Danny. I don't even know Danny I mean here I mean guys guys -- and I don't -- media -- -- -- that I know is from graduated with me. Go to meet everybody finds somebody that's experienced and take them along with the you know I don't know that I know that a group a group of new investors are -- collapse of morons could. Everybody -- enemies but like -- we don't -- where marketing coop -- -- new marketing co -- of morons. Because what happens is that CNET I inning in no offense I seem to be offended out there that's the the Cooper in new investors get together everybody got five dollars a month -- until marketing co -- Right because that's the big thing to do and then they'll get three of four deals and an aunt and cousin was in and what they're doing. There's some like the guy knows seasoned investors leaving your copy and nobody that you're paying an -- there's no and I will be done graduated we know I would not be something if somebody says they only -- this leader -- will you be part of our Obama's and we are gonna pay me if I'm not a month on top whatever you do in marketing to keep me on retainer. I'm not doing this for free in any. That's that's the investors say oh we're not paying my -- guess what you gonna fail. -- most of the time. Well one other thing too that the new guys and most and wants to have probably already but there's so many good -- -- investor networking groups and clubs can go to. To find deals to bring your deals to. Wholesalers you can take your deals -- -- kind of -- -- taken to area find an investor do you build your master database are pretty quickly build up thrown investor list I mean that's. There's networking stuff that works. Yes and it definitely is a good thing and you know what Nina I think. I'll I'll try and John if you'll give me his number later on him a shot I like set I still I walked through the house and and I pretty much feel I feel very complementary and you've got a good point there there are folks that can't grab animals. Embarrassed you can't trust yourself to be -- objective party and yet you never want to deal to work it right right -- -- -- I and we talk like this one well those are -- really got to take a commercial Comcast we're gonna take a commercial break real quick five went to 313 7523. And a thirteen Tony. Matt take this to commercial please. Then back to the real estate investor power hour with Danny Weber. If you have a question for Danny don't be shy -- now at 51239. -- thirteen seventy. I welcome actually show we got into some good good good. Correspondents. And talking a second billiards I debate where do you often get. Well we were we were kind of differentiating between hiring an inspector and again and I know it. For sure not a full blown inspection that you have this I got this system and it seems to work I mean it sounds good. We were drawn a line because what idea I mean I -- bile -- courthouse steps that's where and I cut my teeth and so. I can say you know I'll drive by the house maybe sometimes -- get out and be a little candidate -- a vacant but this is a real quick look. I'm may look at thirty homes a day. Drive past them I'd go to the courthouse steps and make an offer on it and some looking at the front yard a look and yet. You can tell a lot about a house. Just by the yard. Just I don't play as kept. And and looking at the AC unit you know what EU driver might have to make those decisions and so that's probably why I've never you know hired an inspector -- build some you know certain things in my numbers what may happen is if I hired -- inspector for 150 bucks and got -- give me an opinion I might be able to tighten up our tweak those numbers a little bit better and be more competitive. -- -- my question bed and I got a question. Check everybody for over a table. So what do you -- in Austin area greater Austin near what DC. Investors trading at her retail after repaired value sober house is worth after -- prepared value of -- 100000 let's say. What he ceased excellent or to investors 60% of that seven. He made its all of the -- uniform it is it's all over -- -- fifty cents the last three that we baht or about fifty cents on the dollar. The one that have bought an area can't just talk is on myself that you found not from a wholesale Bocelli gives -- come across. At nearly exactly seven years any firing an 80% that they're in there in age fifty and fifty perhaps that's exactly right. I don't know I mean if if you're buying your own dealer keeping your Indian you may -- 5060 I think if you -- -- fifty. You better for so guys are buying property nasseria in this market which were purportedly from the house guards in the country it's fifty cents on the value. Not we everybody know not everybody else we got we got parity we got some and then the other one that that was. An area tennis I mean. But I bought for 136. And are really sink at minimum -- -- get T 55 are probably T 85. Or it. What a deal with sellers and I'm generally be around sixty to 70% of value. Someone in my whole sort -- -- -- -- 78. 65 may be much seventy amateur it's. Well I think I you know the the the. Pure logical math of this is is always there's two tasks are either flip barrier around vinyl door. -- -- original vinyl to slash owner financial mess that California and until the the percentages. -- need to be different things at every level make the trip of -- Attract. If you wanna be it 506070%. Max but again if you could be 80% of the numbers if it's a 200000 dollar flip. Mean you're at 80% 20% to a thousand dollars is a lot -- and 20% are thousands of that the percentage is kind of by the wayside -- being on the size of the number you're talking about in -- -- -- market in the market that market that is a -- -- -- it's a lot of variables like yeah yeah. But that is. If you're if you're -- would come -- guy on him I think usually she should be a vinyl owner finance on the back and grab and I -- rental property yeah Anita I. I mean I -- -- Africa's Otellini it's a bailout runner Hillary and I never -- and they are. Ever found are you sure you'll think about their personal American album was crying in the wilderness -- That -- so and if you're an owner -- -- guy either way goes from here here Al TVs don't have to be 56 is -- you know -- don't if you're rewarding opportunity 67 division I can and you many deals frank -- as a -- final guys you're 80%. Or 85% you're still way ahead of the game because they a lot of people find -- on Iran -- must carry out. To deal it's -- deal. Now because that's because he -- crazy like I guess I can investors out of out of state. That comment so yeah I need cash flow you know net at least 200 among the rival that he went by the entire city. Yes you know -- connect IQ -- to analyze just what -- -- -- -- -- -- around for you you guys chipped it probably search. For homes not to cash platoon on the money he's going to be an idea. And you know these guys are look command there in their percentage of return in there and there Macon one point 2% in the bank aren't your CD maybe -- make NT percent. And then make an 8% on our investment in Austin, Texas they're happy. And so yeah there there are there by an off -- MLS combine these fully rehab properties that they don't you know quote here's the key you know phrase again. -- I mean you either don't know enough -- I got guys and only one new construction which is the highest LTD bird you know I'll Ukraine retail giant every Terry Terry Tony construction but they want to because. They they don't want any headaches and of one or pretty appears exactly like. Man -- give me a property and and you know Maynor held in. Taylor -- no. Leander and I take any deal of the week. -- and you only need those areas I'll take a -- 1970 home but I get into cheaper and owner francs on the back any don't want cash back out I just can't. Plus -- -- switches -- helpless houses and -- brand name I 35 years old. So though although all of the barrel leverage separately -- -- of until of this -- -- cash there how's it if you Kennedy's ask why not just go knock on the doors of these houses that are getting foreclosed on that were built to 20112012. And use up to you I mean if you don't mind -- one mile an -- that there's there's there's a lot of -- exactly yeah. We've got actually got those are really noticed plus one of those this week. A ton of things to deal with the guys out there you know that pay outrageous crazy wholesale fees you know always you know we even talked about this before -- -- -- large also -- the Houston area. I'm on the nose -- us here for Bobby passed two straight years but does the logic is this if you're new investor meeting and it paid. Three to 5000 want to marking either radios are you gonna pay 50101000. For wholesale dealers and you sit on yours and your -- 21 a violent. Well the difference to them a lot of these investors have jobs they work -- -- five guys that feel that what -- they wanna make the segue over to borrow -- to this whole time. They haven't done it yet which is currently in so worked with a -- said he can't do marketing is an investor and baby are remains the phone people call you guys have -- have a job at a bartender and it generally speaking generally don't know what -- -- that I can't tell. You what statistics it is but statistically it's got to be 6780%. The person change is a phone the first personal contact believes. These people are typically it to a three or four lead -- absolutely you gotta be different. Time you did either one that can be won on it in the first -- -- the -- and you gotta be the first one week. And in this is that I -- I tell everybody is in Italy -- we deal with so many right now. That's got though we got three of foreign investors coming to make office a -- fine I'll give you 500 of your best offer best written offer I don't wanna compete from a -- -- -- -- -- 500 of which -- best offer us. They works for a million Chevrolet you know they know we're. Our next 500 bucks announced it's like it but yet you know what you're yeah Cheney handing any I forgot my train of thought that got caught up in the car thanks so. I had an okay thing in my tracks or something that is very. But around but it's I am a fan of wholesalers. Went with it which is on points out when you don't have time -- marketing and managing -- -- actually get into a deal easily. You still have to know what you do when he's got a sure it is out of beat the deal -- -- structural seller anyway she got a distress you also completely on the first deal well. Ourselves O'Donnell and every deal. And we'll trust but verify I wouldn't -- it is -- nicer. To repeat as -- -- for investors and they -- to hear whether they need. Same with the sellers I mean we did it did did says oh it doesn't address from the networking is a networking business -- -- -- -- different people networking that's really what is including investors. And I got this place you two guys. You get testimonials or referrals from people -- -- it to. You know I am the absolute worst they have a good friend Linda Peterson -- excellent and and she's always tell me jacking up come on now I don't my FaceBook is almost nonexistent Linkedin -- I have two friends my wife and somebody that's undoubtedly -- -- this. And yet you know Linkedin doesn't exist it's there I don't know the password because the guys that are dampens -- is imprisoned they it's tough my entire social network doesn't exist I don't contact anybody -- don't do any thing but I still -- An awesome we have this really missiles house in Galveston territory to refer me a friend I'll pay a 20% referral fee would rebate cheer for me your friend. Sold her house she referred to somebody else or contract right now I mean he's he's let people know which gave ineffective anyone has a deal with a referral these guys yeah. I had -- -- -- decorate -- clean I don't mention the phone and taking your phone calls. Investors and and that's. That is so huge if you're running marketing pick up the phone yourself. Do not use pat -- do not use Hastings who do not only knows those are you know not those are those are alive answering. Service. But but you know what. There were -- tried in the rate of return on using those -- and answering services is nothing. I mean compared to you picking up the phone you've got the personality you're scared to death. They -- -- but you know what they also feel you're human you're not getting a little oil and gas what's the address what's your name how much do you want it doesn't know there are you can't answer the phone yourself. Don't hire a -- give the phone to your friends know our lawyer event. Before the phone to somebody's gonna bloody period you're doing that's right -- -- the first question is in good I'm sorry I just live on the marquee -- do something -- to -- Purdue and now -- -- -- my -- -- -- call or text. Caller takes he'll text you before I. That's something that's right you know what all our -- that could be huge -- and its ninja tip remember Craig proctor said could -- you know underneath all of your written and -- -- web site we if this was in the day when the way it was not around that much frankly did dad and -- leads tee shot through the roof. There you go put call -- Ten people have got -- text. The potential popular phone calls do you have to tell people to Texas. I'll probably put your -- abruptly don't know it's a landline and now we know I think until we lose these oppose serviceable except the tech stories about all -- but people like to -- the other crazy and I hate and -- and yet I guess I'm not friendly to -- right now answered yeah protection right now. I there think you need to actually I -- and he and I had. Hey I can actually I take communicating via text -- I don't talk T. What don't we can have a 102 conversation we have a thirty minutes -- I was -- They know that they what does a thirty minute text. But then let us talk what issue quick -- get a phone call ring ring you answer the phone. First thing I say hey you know it's paid this is Joseph blow I've got yours blah blah blah are responding to -- ever. I got a house -- only and so -- my first question imitate what can I knew if we what's the best out for you what are you trying to do -- I would just I'd never seen anything like along wanna buy it along when I know I'm always. And in that everybody knows me knows I'm very hard I am not very soft that this is my soft approach to this and it's just really I'm trying to figure out how to get hardcore with them through these questions which is. -- -- -- I -- asked him what are you I I'm just thinking I'm trying to miles in ten days for 50000 in my pocket OK let's talk. That that is that is the that is. Beautiful because you don't ideally we had so many sessions where -- you know we've talked about what are we gonna say only get on the phone and I struggle with this -- -- this. And the last time I guess it was about three month or two months ago you said that -- you said on the air okay -- I say is what you wanna do with property you know what. That cuts through. All the garbage trying to position yourself China and all of a sudden you've taken control that phone call with that one simple question because -- asking the questions. Is in control. All right Jamie and nine times out of ten I think nine times -- seven out of ten times what they actually wanna do is not what their -- -- was there. What they wanna do at the end is now with -- Tony up front they're totally something that is the heat of the moment. Hot but you know but the emotional hot -- by it and I wanna give -- a moment I -- your editor mark I have one quick example like to give it to look at these example is talking about when saw house last. Week week before last -- with Texas. The lady you know divorce before payments behind no not a good story. The end faster Alcatel atop her she's getting emotional sort of interior analysts arbiter in assets what he really only wanna stay here do you wanna sell it. Bush has tried to sell a distortion had to issue corporate front and counselors beyond. And I said I -- you wanna stay here was here we -- he -- Russia's sale lease back for an investor to -- property shed one year -- event you know when aren't too worked up her. Beijing party is nice are you in answering machine that is such unity sure you that this is my -- change for you start over different start a new chapter like -- And she's an -- wanna stay -- kind. -- weekly issue college did you -- -- want us. I'm wanna go in go go now Mostar over source -- great suggest that when I was there so we gotta set up out of the organ taking care of word that he's got each of your help on what we do to help keep. And you know -- -- oftentimes spend -- when you say what is it we don't you wanna do with the -- in -- well -- zealots as far call. -- what unity and. I'm begin to say how quickly when -- saw the solid sit questioned how dare I say don't wanna Sundays because they we got a few options and unconscious at the property if I like to properly and -- -- -- happy with him or close a deal and a week. Period hi Tom I -- I never say well I'm maybe in the -- over let me jump my case -- -- look at the property first I wanna get from his own establish a relationship. And then once I'm there we're gonna walk the property I'm gonna see -- your properties grade -- -- -- want it eases things have you taken this any consideration. Well -- -- -- while I know is that well you know you -- communities he thinks playing on how to repay any new -- -- you know three dollars a square -- disaster are doing all the math and I say okay. This is what it's gonna cost and rehab you acknowledge and agree with. This is which -- going to be worth after idea yet. Let's talk about which you link -- the deal and now. Because I can't buy your home and not make money on investor if I do that makes him and master this is my jobs is -- -- It's -- once I sit down I go to the numbers and explain to them why and then off from what I'm offer them an and I say. I give him -- back up. Eighteen did -- want to take our market if you want more money the we can't tell us you know -- -- then a week. You wanted to retailers the retail rooms in broker -- between -- this list to reach our pilots already Longoria. And they take -- 36 to 920 days. Under the -- in top but I got a backup plan on when there's another 11 trick pony. And you know you know every investor in -- has got their radio turned on right now needs to go back. Listen to the top podcasts. And just write down what was just said. That will save the news Keon of time it will save you deals it's so cut and dry so simple it doesn't have to be -- -- you don't have to blown away with your introduction on the phone. Just gift to the point. And get their nicely and daddy's huge and that that was it did depreciation and I had to make because again. Watching these guys on stage now bless -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- just did an endless and upon us to do it gets ever going to be a Steiner ranch steakhouse stands hello hello -- -- -- gift card. -- -- -- How right now possible.

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