1 00:00:00,040 --> 00:00:02,560 Well, I think so. When you're definitely the expert on this, you've 2 00:00:02,600 --> 00:00:06,519 got your thumb on the economy. You know what's going on with investments and 3 00:00:06,599 --> 00:00:10,119 interest rates and all the shenanigans the government's pulling and all that kind of good 4 00:00:10,160 --> 00:00:13,640 stuff. I think you know, and I'm probably preaching the choir. It 5 00:00:13,720 --> 00:00:19,920 really is incumbent upon ourselves to take responsibility for our own financial futures because the 6 00:00:19,960 --> 00:00:24,839 government ain't gonna do it. You're listening to Carrie Letts's Financial Survival Network, 7 00:00:25,039 --> 00:00:30,440 where you get valuable information you just can't find anywhere else to thrive in today's 8 00:00:30,480 --> 00:00:36,159 trying times. You need the Financial Survival Network now more than ever. Go 9 00:00:36,280 --> 00:00:41,799 to Financial Survival Network dot com and get your free newsletter and gift. Financial 10 00:00:41,920 --> 00:00:52,039 Survival Network now more than ever. Welcome you are watching and listening to the 11 00:00:52,280 --> 00:00:58,520 Financial Survival Network. I'm your host, Carrie Lots and hey, we've got 12 00:00:58,600 --> 00:01:04,480 the really special guest with you for you today. Seasoned real estate investor can 13 00:01:04,560 --> 00:01:12,920 help kickstart your real estate investing campaign and his name is Dave Dubo and Dave, 14 00:01:14,040 --> 00:01:17,439 it's great to have you on the show. So look, you've been 15 00:01:17,560 --> 00:01:22,439 real estate investing successfully for how many years now? Oh jeez, I got 16 00:01:22,439 --> 00:01:26,599 started in two thousand and three. That's when it really first took a kick 17 00:01:26,640 --> 00:01:30,439 at it. So I've been doing it since then. In the last ten 18 00:01:30,519 --> 00:01:34,719 years, really focusing on helping other what I call mom and pop real estate 19 00:01:34,719 --> 00:01:41,319 investors raise private capital so they can grow their portfolios. All right, So 20 00:01:41,959 --> 00:01:47,040 first you got to start someplace. Yeah, your investors start when it comes 21 00:01:47,040 --> 00:01:49,640 to raising capital, well, it all starts with having a deal or two 22 00:01:49,760 --> 00:01:53,879 under your belt, so you got some proof of concept, But you don't 23 00:01:53,920 --> 00:01:57,319 need to have decades of experience or hundreds or dozens of deals under your belt. 24 00:01:57,599 --> 00:02:01,760 You can get started with that because the statistics I've seen carry and take 25 00:02:01,799 --> 00:02:06,680 them for what they're worth, right, statistics is that ninety five percent of 26 00:02:06,719 --> 00:02:12,400 the general population has never purchased an investment property. Your own house does not 27 00:02:12,479 --> 00:02:15,960 count as an investment property. So if you've got a couple of investment property 28 00:02:15,000 --> 00:02:20,759 deals under your belt, chances are you're far and above ahead of most of 29 00:02:20,759 --> 00:02:23,680 the non real estate people that you know. So what kind of properties do 30 00:02:23,719 --> 00:02:29,919 you counsel your group to invest in? I don't. I don't. We 31 00:02:29,960 --> 00:02:34,680 work with people that are investing in single family homes, multifamily properties, people 32 00:02:34,680 --> 00:02:38,719 who are doing flips, people who are doing Burr's, self storage facilities, 33 00:02:38,360 --> 00:02:44,039 commercial, commercial, residential, you pretty much you name it. In real 34 00:02:44,159 --> 00:02:46,800 estate, We've got clients that are doing all of it. So I don't 35 00:02:46,800 --> 00:02:53,319 think there's any one particular category that's head and shoulders above everything else. It 36 00:02:53,400 --> 00:02:55,360 just kind of depends on where you are and what your goals are. So 37 00:02:55,479 --> 00:03:00,800 you're agnostic, and I got to cover my bases there carry I I cat 38 00:03:00,800 --> 00:03:04,879 show preferences. I'm definitely agnostic. Yeah. Yeah, when it comes to 39 00:03:04,919 --> 00:03:09,919 real estate investing, So when somebody is interested in one, do you have 40 00:03:10,240 --> 00:03:15,280 geographical preference? Do you steer people to certain parts of the country? Dave, 41 00:03:16,039 --> 00:03:19,599 No, Here's what I do. Carry. I help people who are 42 00:03:19,680 --> 00:03:28,080 already doing deals to do more deals by accessing private capital. That's the whole 43 00:03:28,080 --> 00:03:31,960 stick. That's that's how we really help our clients is to find joint venture 44 00:03:32,000 --> 00:03:37,639 partners, private investors, private lenders, what have you, so that they 45 00:03:37,639 --> 00:03:40,960 can scale their portfolios. They can do more of what they're already doing typically, 46 00:03:42,039 --> 00:03:46,280 or they can start doing that next category. They can go from single 47 00:03:46,319 --> 00:03:52,120 family homes to small multifamily properties. Or small multifamilies to larger multifamilies because they're 48 00:03:52,159 --> 00:03:54,879 able to raise capital to do that. Okay, and the capital that you 49 00:03:55,000 --> 00:04:00,680 raise private capital, Yeah, what is it cost? Usually what's involved in 50 00:04:00,680 --> 00:04:03,400 the transaction, Well, that's all over the board, because that's the beautiful 51 00:04:03,439 --> 00:04:08,319 thing. You're not dealing with hard money lenders. You're not dealing with institutional 52 00:04:08,400 --> 00:04:14,719 lenders necessarily. Typically these are our clients or mom and pops who are raising 53 00:04:14,800 --> 00:04:16,879 capital to do that next deal, and they just don't have any experience with 54 00:04:16,959 --> 00:04:21,040 it. So you know, quite often I recommend people get started by bringing 55 00:04:21,079 --> 00:04:26,800 on a joint venture partner so they've got the deal, they've got the knowledge, 56 00:04:26,800 --> 00:04:30,800 they've got the expertise, and they bring on somebody who's not all that 57 00:04:30,959 --> 00:04:34,720 familiar with real estate investing or who doesn't want to do the hands on work 58 00:04:34,759 --> 00:04:40,160 themselves. That person comes into the deal, they bring their money, they 59 00:04:40,160 --> 00:04:44,920 bring their credit, and they join forces and they do the deal together and 60 00:04:45,160 --> 00:04:48,839 basically they share in the risks and in the rewards of that deal. So 61 00:04:48,879 --> 00:04:55,360 the big advantage is to the active real estate investor, they're able to get 62 00:04:55,439 --> 00:05:00,600 that capital without necessarily having to come out of pocket. While they're aabilizing the 63 00:05:00,639 --> 00:05:04,279 property and you know, paying an interest rate, they're only paying out when 64 00:05:04,279 --> 00:05:10,079 the property is profitable. Now, the disadvantages, you're giving up a big 65 00:05:10,160 --> 00:05:14,160 chunk of equity typically in that kind of deal. But you know what, 66 00:05:14,800 --> 00:05:16,839 half of something is a hell of a lot better than one hundred percent or 67 00:05:16,879 --> 00:05:21,079 nothing. So that's that's how we recommend newer investors get stared with the raising 68 00:05:21,120 --> 00:05:26,639 capital. Okay, so with your capital partners, if you will, what 69 00:05:26,720 --> 00:05:30,759 kind of returns do they look for and how much do they finance of the 70 00:05:30,959 --> 00:05:35,519 typical project. Yeah, so again, what we're showing our clients to do 71 00:05:35,600 --> 00:05:40,839 is how to tap into their network of friends, family members, co workers, 72 00:05:40,920 --> 00:05:44,639 business associates, people I have that pre existing relationship with a lot of 73 00:05:44,639 --> 00:05:49,040 these folks aren't necessarily super sophisticated, accredited type investors, so they don't even 74 00:05:49,240 --> 00:05:53,959 really know exactly what they're looking for. They just know that whatever kind of 75 00:05:53,959 --> 00:05:58,399 returns they're getting in traditional investments suck, and you know, real estate is 76 00:05:58,480 --> 00:06:01,759 a is a better option for them. So again we highly recommend you don't 77 00:06:02,000 --> 00:06:05,680 you don't start off offering specific rates of return. If you bring on a 78 00:06:05,759 --> 00:06:10,000 joint venture partner, you explain to them, Hey, here's what I've done 79 00:06:10,000 --> 00:06:14,199 in the past, here's how it's worked out. If we were due to 80 00:06:14,240 --> 00:06:17,959 a fifty fifty deal, hopefully it would be something similar to that. Every 81 00:06:18,040 --> 00:06:20,680 deal is a little bit different, but this is how it works. So 82 00:06:20,720 --> 00:06:25,800 the joint venture partner goes in with their eyes wide open, and typically what 83 00:06:25,839 --> 00:06:30,920 they're hoping for obviously is double digit returns, but that may or may not 84 00:06:30,040 --> 00:06:34,319 be direct cash on cash returns. That can be all sorts of different things 85 00:06:34,319 --> 00:06:40,879 through mortgage paid down, property appreciation, depreciation, all that kind of good 86 00:06:40,879 --> 00:06:47,839 stuff. So with interest rates going up and money becoming scarce from bank failures, 87 00:06:48,000 --> 00:06:55,199 etc. How are you helping clients now? What are their main concerns. 88 00:06:56,000 --> 00:06:59,360 Well, that's why it's even more important to be doing this these days, 89 00:06:59,399 --> 00:07:05,839 because a lot of our clients who could qualify for traditional financing before don't 90 00:07:05,879 --> 00:07:10,879 any longer because the banks have tightened things up. However, if they bring 91 00:07:10,959 --> 00:07:15,360 on a capital partner who not only helps out with bringing money to the table, 92 00:07:15,399 --> 00:07:18,959 but also helps out perhaps with bringing credit to the table, then they 93 00:07:18,959 --> 00:07:23,639 can join forces and it's a lot easier for them to qualify. It's a 94 00:07:23,680 --> 00:07:30,959 lot easier for them to make the banks happy under their current financial stringent financial 95 00:07:30,959 --> 00:07:36,600 situation. All right, So kind of your specialty is helping people, helping 96 00:07:36,680 --> 00:07:45,480 your network, your existing groups, and finding others who can be potential equity 97 00:07:45,519 --> 00:07:50,959 partners in your deals exactly. And one of the ways that I always recommend 98 00:07:51,000 --> 00:07:58,319 to people carry that you're an absolute master at is you know, be seen 99 00:07:58,959 --> 00:08:03,560 to get the green. So it's like you can be a very very astute 100 00:08:03,600 --> 00:08:07,399 real estate entrepreneur, but if you're the best kept secret, it's not going 101 00:08:07,439 --> 00:08:11,600 to do you much good when it comes to raising capitals. So there's there's 102 00:08:11,639 --> 00:08:18,240 all sorts of things that I recommend people do to number one, kind of 103 00:08:18,279 --> 00:08:22,040 get out there and be seen, not necessarily just to kind of expand their 104 00:08:22,040 --> 00:08:28,279 reach, but to show people in their network that they know their stuff right, 105 00:08:28,319 --> 00:08:31,720 because a big challenge a lot of mom and pop realistic investors have is 106 00:08:31,039 --> 00:08:37,679 their friends and their family know them as you know, John the plumber or 107 00:08:37,919 --> 00:08:43,919 Jane the receptionist or whatever they do for their day job or whatever their background 108 00:08:43,039 --> 00:08:48,039 is. They don't take them seriously as a real estate entrepreneur. And they 109 00:08:48,120 --> 00:08:52,080 can bang their chest and they can talk to their blue in the face about 110 00:08:52,120 --> 00:08:56,639 how great they are. But it's so much more effective if they get featured. 111 00:08:56,679 --> 00:09:01,879 For example, if they get featured on somebody's podcast and that other person 112 00:09:03,039 --> 00:09:09,559 is interviewing them, then they're automatically elevated to that status of being an expert. 113 00:09:09,600 --> 00:09:13,720 So it's not just about the reach they get by being interviewed on somebody's 114 00:09:13,720 --> 00:09:16,039 show, like, for example, I'm on your show right now, and 115 00:09:16,080 --> 00:09:20,799 that's going to reach a broad audience, your audience. However, the real 116 00:09:20,840 --> 00:09:26,480 impact, especially for our mom and pop real estate investors, is also pointing 117 00:09:26,519 --> 00:09:31,240 their network to the show they've just been interviewed on as kind of like hey, 118 00:09:31,320 --> 00:09:35,039 proof, here's somebody that's interviewed me. Check it out. Does that 119 00:09:35,039 --> 00:09:41,200 make sense Garry? Yeah definitely. And so all right, so do you 120 00:09:41,200 --> 00:09:46,840 give guidance as far as what types of deals or how to structure a deal 121 00:09:46,279 --> 00:09:50,240 to bring on these outside investors. Yeah, well, like I say it 122 00:09:50,799 --> 00:09:56,759 initially, my usual recommendation is to, you know, especially if you're smaller 123 00:09:56,799 --> 00:10:01,360 deals, keep it super simple. I could wave the magic want to bring 124 00:10:01,440 --> 00:10:07,720 on one investor partner to do the deal with you, and bring them on 125 00:10:07,759 --> 00:10:13,879 as a joint venture partner and share everything fifty fifty, right, so after 126 00:10:13,960 --> 00:10:20,080 their initial the investors initial investment is covered, all of the profits are shared 127 00:10:20,120 --> 00:10:24,200 and split fifty fifty between the two of you. That's just the simplest way, 128 00:10:24,320 --> 00:10:28,399 and it's also it's more generous for your investors, and it's lower risk 129 00:10:28,720 --> 00:10:31,639 for you as well, because again, a big challenge that a lot of 130 00:10:31,679 --> 00:10:35,159 people have is, especially if they're doing a flip or a burr or they 131 00:10:35,159 --> 00:10:39,840 have to do some renovations on the property, is you know, they don't 132 00:10:39,879 --> 00:10:45,360 want to be coming out of pocket more than necessary while they're repairing the property 133 00:10:45,360 --> 00:10:48,679 and getting it optimized. Right, So this is a way to lower that 134 00:10:48,240 --> 00:10:54,080 risk for them. I answer your question, Yeah, I think you covered 135 00:10:54,120 --> 00:10:58,519 it pretty well. So it sounds exciting. It sounds like there's a lot 136 00:10:58,559 --> 00:11:05,240 of opportunity in light of the current economic disruptions to be doing this, isn't 137 00:11:05,279 --> 00:11:07,039 there Well? I think so when you're definitely the expert on this, you've 138 00:11:07,080 --> 00:11:11,000 got your thumb on the economy, you know what's going on with investments and 139 00:11:11,080 --> 00:11:15,600 interest rates and all the shenanigans the government's pulling and all that kind of good 140 00:11:15,639 --> 00:11:18,120 stuff. I think you know, and I'm probably preaching the choir. It 141 00:11:18,200 --> 00:11:24,399 really is incumbent upon ourselves to take responsibility for our own financial futures because the 142 00:11:24,440 --> 00:11:28,399 government ain't going to do it. I'm up hearing candidates the same thing as 143 00:11:28,399 --> 00:11:31,120 in the States. You know, too many people rely on the government, 144 00:11:31,639 --> 00:11:35,120 and that's in my opinion, a very very bad plan. So again, 145 00:11:35,200 --> 00:11:39,879 what I'm what I'm showing our clients, our real estate investor clients, is 146 00:11:39,000 --> 00:11:46,879 how to educate their network about the big benefits of investing in real estate compared 147 00:11:46,960 --> 00:11:50,679 to so many of the other traditional investments that are out there, all of 148 00:11:50,679 --> 00:11:54,919 the things that are rammed down their throats that they should be doing, like 149 00:11:56,000 --> 00:11:58,679 putting all their money in mutual funds with the financial planner, which I think 150 00:11:58,759 --> 00:12:05,279 is is generally speaking a pretty bad idea. Okay, So yeah, obviously, 151 00:12:05,360 --> 00:12:11,480 stock markets so volatile, you still feel that pretty much real estate is 152 00:12:11,600 --> 00:12:18,080 the best long term investment with inflation, with high interest rates, with the 153 00:12:18,279 --> 00:12:26,080 potential recession, You're still you're still allowed a real estate investor. I am. 154 00:12:24,879 --> 00:12:28,000 I'm I'm a long personally, I'm I'm more of a long term, 155 00:12:28,039 --> 00:12:33,200 buy an old kind of guy. So if you just look at it historically, 156 00:12:33,600 --> 00:12:37,120 if you if you buy a piece of a good piece of real estate, 157 00:12:37,120 --> 00:12:39,320 you'll hold onto it long term, you know, unless you're in an 158 00:12:39,399 --> 00:12:43,919 absolutely disastrous area. You know, even if you look at the markets that 159 00:12:45,000 --> 00:12:48,279 took the biggest hits in oh seven o eight, you know, if you 160 00:12:48,320 --> 00:12:52,440 if you held onto those properties long enough, they would get turned around. 161 00:12:52,519 --> 00:12:56,039 So really depends on what you're doing, how you're doing. But I'm such 162 00:12:56,039 --> 00:13:00,679 a big fan of real estate carry because they're just with a good deal, 163 00:13:00,720 --> 00:13:03,720 there's so many different ways you and your investor partners can make money, and 164 00:13:03,759 --> 00:13:09,279 there's so much more control, relatively speaking, that we can exercise over this 165 00:13:09,399 --> 00:13:13,320 asset versus pretty much anything else out there that I'm aware of, at least. 166 00:13:13,320 --> 00:13:18,000 So, I mean, we control what we buy to a certain extent, 167 00:13:18,120 --> 00:13:20,600 how we buy it, We can negotiate the price quite often to a 168 00:13:20,960 --> 00:13:24,639 certain degree. We determine exactly what we're going to do with that project, 169 00:13:24,679 --> 00:13:28,759 whether property, how we're going to make improvements. We determined to a large 170 00:13:28,759 --> 00:13:33,279 degree, who we're going to get in there, how we manage that property, 171 00:13:33,759 --> 00:13:37,000 how we exit it, maybe not exactly when, but how we exit. 172 00:13:37,080 --> 00:13:41,600 We could have multiple different exit strategies for that property. And then you 173 00:13:41,679 --> 00:13:45,279 and your investor partners you benefit from all depending on the deal. I'm aware 174 00:13:45,320 --> 00:13:48,759 of up to eight different profit centers in a real estate deal, like cash 175 00:13:48,799 --> 00:13:52,799 flow as king. Everybody knows that one. That's a cash on cash return 176 00:13:52,840 --> 00:13:56,440 that you get monthly, the jingle left over in your gene so to speak. 177 00:13:56,919 --> 00:14:00,519 You've got property, you know, you've got mortgage paid out, You've 178 00:14:00,559 --> 00:14:03,080 got forced appreciation. If you get a good deal on the property, you 179 00:14:03,120 --> 00:14:07,279 get instant equity in that deal. You buy it on, you buy it 180 00:14:07,279 --> 00:14:11,000 at a discount, find a motivated seller, Lots of people do that kind 181 00:14:11,000 --> 00:14:16,279 of stuff. You've got depreciation, You've got you know, all of these 182 00:14:16,320 --> 00:14:20,360 different with leverage, massive leverage with real estate, I mean many investments. 183 00:14:20,399 --> 00:14:22,519 If you want to buy half a million dollars worth of gold, well, 184 00:14:22,559 --> 00:14:26,320 I guess how much that's going to cost you half a million bucks. Want 185 00:14:26,320 --> 00:14:28,399 to buy half a million dollars worth of real estate. You can typically get 186 00:14:28,440 --> 00:14:33,519 into that with between twenty and thirty percent down, so the bank will will 187 00:14:33,559 --> 00:14:35,399 finance the rest of it. So just in my mind, so many big 188 00:14:35,440 --> 00:14:41,480 benefits to real estate, right and not to mention the inflation protection aspects of 189 00:14:41,519 --> 00:14:46,279 it, right, Well, you're definitely the expert on that, that's for 190 00:14:46,320 --> 00:14:50,279 sure. Yeah. Well that's one of the reasons I like it. Yeah, 191 00:14:50,440 --> 00:14:56,440 So any red flags that you tell people when you're bringing on an investor, 192 00:14:58,240 --> 00:15:01,080 if you see this, don't do it. Well. The red flags 193 00:15:01,080 --> 00:15:05,919 are usually the person trying to bring on the investor, right, So I 194 00:15:05,960 --> 00:15:09,080 see lots of people making all sorts of mistakes around that. And I'm going 195 00:15:09,120 --> 00:15:11,559 to cover my butt here carry and say, I'm not a lawyer, I'm 196 00:15:11,600 --> 00:15:16,240 not a securities guy. I'm a real estate investor and a marketer, and 197 00:15:16,279 --> 00:15:20,799 I'm just sharing my understanding of things. So get your own appropriate legal advice. 198 00:15:20,840 --> 00:15:24,320 So I'll let cover my butt stuff. But bottom line is what I 199 00:15:24,360 --> 00:15:26,559 see so many people making mistakes because they're you know, they're a mom and 200 00:15:26,600 --> 00:15:33,080 populistic investor, and they're soliciting capital online like they're posting on Facebook, Hey 201 00:15:33,080 --> 00:15:39,639 I've got this great deal guaranteed fourteen point seventy five percent DM me for more 202 00:15:39,679 --> 00:15:43,440 details. Well, that is so many people do that. Everybody else thinks 203 00:15:43,440 --> 00:15:46,600 it's okay, but it's not. I mean, that's that is that is 204 00:15:46,639 --> 00:15:50,519 illegal, and if you get caught, it can be very very painful. 205 00:15:50,600 --> 00:15:54,840 For you with a security and exchange commission. So that's a big mistake. 206 00:15:54,919 --> 00:16:00,120 I see people making. The other mistakes I see people people making are of 207 00:16:00,200 --> 00:16:03,399 ignorance more than anything. And I've made these mistakes myself. So when I 208 00:16:03,440 --> 00:16:07,919 was first trying to raise capital, I would show a potential investor my best 209 00:16:07,120 --> 00:16:11,679 deal ever. Why because I was so damn proud of that thing, right, 210 00:16:11,720 --> 00:16:14,679 So I'd I'd show this, Hey, here's how smart it was, 211 00:16:14,720 --> 00:16:17,919 here's how great we did, Here's how much money we'd made, and it 212 00:16:17,960 --> 00:16:19,480 was so profitable, and you know, I was kind of beating my own 213 00:16:19,519 --> 00:16:25,679 chest, you know, showing by yeah, my prettiest baby, so to 214 00:16:25,720 --> 00:16:29,159 speak. However, one or two things would happen. Either number one, 215 00:16:30,080 --> 00:16:34,080 the returns would be so much higher than a than a non investor type person's 216 00:16:34,120 --> 00:16:40,240 accustomed to that their BS motor meter would go off and they say that this 217 00:16:40,279 --> 00:16:41,679 guy must be full of crap. There's no way, you know, I'm 218 00:16:41,679 --> 00:16:45,159 only getting three percent on my money in mutual funds. There's no way you 219 00:16:45,200 --> 00:16:49,919 can be getting twenty thirty returns kind of thing. He must be full of 220 00:16:49,919 --> 00:16:56,519 crap, or it would set up very unrealistic expectations, right, so now 221 00:16:56,559 --> 00:17:00,039 they're now they're pinned in at this expectation of the kind of returns they should 222 00:17:00,039 --> 00:17:03,599 be getting they invest with you, and if your deal doesn't bring those kind 223 00:17:03,640 --> 00:17:07,880 of returns, then you look like a schmuck, even if the deal did 224 00:17:07,400 --> 00:17:12,880 pretty well overall. So what I always recommend to people is don't show off 225 00:17:12,960 --> 00:17:18,480 your best deal ever. Show off kind of a plain Jain type of a 226 00:17:18,519 --> 00:17:23,519 deal that's got decent returns but nothing too crazy. And then, due old 227 00:17:23,559 --> 00:17:29,880 Tom Peter's advice, there under promise and over delivered. So if you're showing 228 00:17:29,880 --> 00:17:33,440 people that, hey, we're thinking we probably will be able to get you, 229 00:17:33,359 --> 00:17:36,920 you know, ten or eleven percent return on your investment all in not 230 00:17:37,079 --> 00:17:41,119 cash on cash, but if you look at everything over this timeframe, should 231 00:17:41,119 --> 00:17:42,440 be able to do that. Well, then if you're able to get them 232 00:17:42,440 --> 00:17:47,400 actually fifteen or twenty percent, you're going to look like an absolute rox star. 233 00:17:47,839 --> 00:17:49,039 Yeah you're a hero, right, and they're going to reinvest with you, 234 00:17:49,079 --> 00:17:52,160 and they're going to refer you to the friends and their family and all 235 00:17:52,160 --> 00:17:56,799 that kind of good stuff. I gotcha. It's fascinating. And yeah, 236 00:17:56,880 --> 00:18:02,920 so to give us an example of an average deal that you pulled off recently 237 00:18:02,920 --> 00:18:06,880 that you've helped facilitate. Well, it's kind of interesting. Yeah, not 238 00:18:07,079 --> 00:18:10,680 one specific deal, But I've got a couple that pops into mind. I 239 00:18:10,720 --> 00:18:15,680 just interviewed the other day. They took some of our training and then applied 240 00:18:15,720 --> 00:18:22,079 it, which is the most important important part. And they basically the big, 241 00:18:22,359 --> 00:18:26,200 the big light bulb moment for them, Gary was how they were bringing 242 00:18:26,319 --> 00:18:30,359 investors on board. Because here's my philosophy. All of the real estate gurus 243 00:18:30,400 --> 00:18:34,039 out there say, hey, just find a good deal and the money will 244 00:18:34,079 --> 00:18:38,880 find you. And I say, that's our croco or scooky right, that's 245 00:18:40,000 --> 00:18:44,440 that's that's bull. What you want to do is you want to get investors 246 00:18:44,519 --> 00:18:49,680 lined up first, then go finding deals and then that way you're not scrambling 247 00:18:49,680 --> 00:18:52,839 for the cash last minute. Because if you're scrambling for the cash, that 248 00:18:53,039 --> 00:18:57,000 no matter how good the deal is, the desperation oozes out of you and 249 00:18:57,079 --> 00:19:03,000 it actually turns people off. So what this couple was struggling with was they 250 00:19:03,000 --> 00:19:08,279 were connecting with potential investors, but they weren't getting any real bites. Right. 251 00:19:08,319 --> 00:19:11,839 They're getting a lot of people saying, hey, yeah, sounds good 252 00:19:11,200 --> 00:19:15,559 when you got a deal let me know and I'll take a look at it. 253 00:19:15,640 --> 00:19:18,079 Well, guess what. Then they go out and look for deals, 254 00:19:18,119 --> 00:19:21,119 and these people would all flake out, They say oh nos, or I 255 00:19:21,119 --> 00:19:23,039 can do it blood all the So what they learned, what right, what 256 00:19:23,079 --> 00:19:26,880 I showed them on how to do is instead of just getting a soft verbal 257 00:19:27,000 --> 00:19:33,599 commitment, what you want to do, you, guys, is get a 258 00:19:33,880 --> 00:19:41,480 signed expression of interest assigned expression of intent of interest. This is a non 259 00:19:41,799 --> 00:19:47,640 legally binding document. But I tell you what the difference between somebody signing off 260 00:19:47,680 --> 00:19:49,960 on a document that says something like this, I Dave and ready willing and 261 00:19:51,039 --> 00:19:55,400 able to invest the sum of up to one hundred thousand dollars with Kerry if 262 00:19:55,400 --> 00:19:57,759 he finds me a real estate deal. Sometimes it was in the next six 263 00:19:57,839 --> 00:20:02,400 months. I date it, I sign it, you sign it. The 264 00:20:02,480 --> 00:20:06,839 chances of me coming through when you bring me a deal rise exponentially. So 265 00:20:06,880 --> 00:20:11,839 these folks implemented that, and within a couple of months they got over six 266 00:20:11,960 --> 00:20:15,400 hundred thousand dollars worth of capital committed, and they were able to do their 267 00:20:15,440 --> 00:20:22,799 next two deals because they pegged people down with these expressions of interest. I 268 00:20:22,960 --> 00:20:26,319 like it, I like it all right. Well, Dave, it's been 269 00:20:26,319 --> 00:20:30,519 a pleasure speaking with you. Why don't you tell us where we find you, 270 00:20:30,640 --> 00:20:33,119 how we connect with you on the web. Oh, thanks, Garry. 271 00:20:33,160 --> 00:20:37,799 So what I'm looking for is I'm looking for other real estate investors who 272 00:20:37,799 --> 00:20:42,440 are interested in gaining some exposure by being interviewed on a podcast. So I've 273 00:20:42,440 --> 00:20:48,400 got a long running podcast called the Property Profits real Estate Podcast. So I 274 00:20:48,400 --> 00:20:53,480 would like to invite your real estate guests to be interviewed by me on my 275 00:20:53,559 --> 00:20:57,000 podcast. And that's a great way for them to number one, get exposure, 276 00:20:57,359 --> 00:21:02,400 but more importantly, number two, to be able to kind of indirectly 277 00:21:02,519 --> 00:21:07,960 strut their stuff and be seen as a legitimate real estate professional in the eyes 278 00:21:07,079 --> 00:21:11,640 of their network. So if any of your folks are interesting being interviewed, 279 00:21:11,000 --> 00:21:17,680 love to do that, they can check that out at Dave interviewsu dot com, 280 00:21:17,759 --> 00:21:22,279 Dave Interviews You dot com and as a link to that in the show 281 00:21:22,319 --> 00:21:26,200 notes on Financial Survival Network dot com. Make sure you go there sign up 282 00:21:26,240 --> 00:21:30,839 for your free newsletter. Dave, been an absolute pleasure, Thanks for stopping 283 00:21:30,880 --> 00:21:34,559 by. Thank you, Kerry, Thanks for listening to Carrie Lets's Financial Survival 284 00:21:34,599 --> 00:21:41,759 Network. Your solution to today's trying times for the latest go to Financial Survival 285 00:21:41,839 --> 00:21:45,759 Network dot com. Financial Survival Network now more than ever,