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deal on, um, on, on a, on a disclosure agreement. Um, we couldn't, couldn't necessarily run the deal openly, um, because of the, uh— We ran, we ran a, uh, we did a non-disclosure, so But the deal itself looks pretty interesting. So we'd need to get probably a cleanup of the operations. Based on what we were looking at, and setting it up for a better success successful outcome. It's it's it was built in 2017. The business was started in 2017. Hasn't changed a damn thing since 2017. So it's it's going on ten-year-old ten-year-old business that. hasn't changed anything except its, its performance and bottom line. So, and Catherine had said exactly like I said, do a 60/40 owner, owner finance contingent on, on the business actually, you know, operating correctly. So Interesting, interesting. Um, Catherine and I are hosting cohorts. Um, we are trying to determine, because we talked about it, you're going to be gone for which weekends, Catherine?

I leave on Saturday and I don't get back till the following Sunday.

That's, uh, Saturday the 10th you're leaving?

Correct.

And you're not coming back till the—

Well, I get back Saturday night, so I'm gone for a week. So the 10th to the 17th.

10th to the 17th, but basically 10th to the 18th. Okay, so we cannot do the cohort on those 2 weekends, right?

Correct, because I'll be on planes.

Yeah, so, um, What day? Um, we can probably set it up to do the cohort on the 20th, 21st, 22nd of October. Yep. And make it— make a, a link for $2,500.

Yep.

Per the 20th, 21st, 22nd? Yep. Or we can do 27th, 28th, 29th. So we can do— I'd rather do the 21st because if, if we have more than 4 people in the house— If we have more than 4 people, do you want to Make sure that we can—

then we'll have to do 2, right?

So All right, I got an email from, uh, Megan about the house out in Rio Verde, so I want to look at that. What— do you have anything that's, uh, up and running?

Yes, I'm trying to sell the house, so I'm dealing with the agent. Okay, hold on, let me look at my deals because Lord knows I have them.

Here we go.

Okay, we have a— well, it's a condo, which we tend to stay away from. Great.

Yeah, let's not run that one. Let's not run that one. Okay.

Um, yeah, that's the only one I have right now. It's just a condo.

Okay, well, I had, uh, I had that Florida property, uh, that I was looking at.

Yeah.

And we were reviewing bank-owned properties.

Um, oh, I have a mobile home park we can run. Yeah, it's in Illinois.

Oh, what part of Illinois?

It says north central Illinois, I-57 corridor.

Um, okay. What's— does it have a name? Town?

49 spots.

Yeah, run it. Just got to find the town.

Yeah, I'm looking to see if they actually gave it.

Is Rachel in here today?

Not yet.

Because I want to, I want to run it, run the numbers on her deal. Yeah, and actually do, do her deal. You know what I mean?

Yeah, they are not giving where this is. Well, let's, let's see what Deal Hunter can figure out. Do you want me to share my screen?

Yeah, you can do that.

Okay. So I'm gonna put the deal in here.

Come on. Okay, come on.

Okay. So we got run this deal.

Reading this as a value-add manufactured housing park hold stabilization play. I'll separate what's verified from the offering, what must be assumed, and what needs diligence before this is bankable. Calculating scenarios.

Okay, let it get busy there.

Um, Oh, Rachel, she popped in.

Websites, calculated mobile home park valuation scenarios.

Let's let Rachel in. Morning, Rachel. There she is. Good morning, Rachel.

Hello, guys. How are you? Did you have a good weekend?

Up to our eyeballs in renovations. So, yeah, I'm exhausted.

I hear you.

Glad we're getting through this.

I have so much I'm trying to get done before this big cookout network thing I'm having on Saturday.

So there you go.

Yeah, looks like I'm gonna have about 60 people.

Nice.

Plus people. Yeah. So just been crazy busy. Like this weekend I painted the whole deck. Like my whole deck is like huge and a gazebo. And so like, yeah.

That's awesome.

Lots to do with projects I've needed to do and haven't just keep putting them off. I was like, well, now I gotta get them done.

Right?

You know, it's like there's some motivation. Totally related. Yeah. Yep. So I'm like, ah! But yeah.

Well, it's good to see. I wanted to make sure that we circled back to the property down there in Sarasota.

Yeah.

Um, and basically, like, just put a letter of intent together that if the guy wants it to be developed, um, he's gonna have to participate on a significant level. And we're looking at, like, 20% down, owner carry the rest, if he's, if he's wanting $12 million.

Yeah.

You know, um, and then, and then allow him to Because he's gonna be like, 20%, he's gonna lose his mind. Okay, let's do this. Yeah, $7 million, you know, 90%.

Yeah, right, right.

Which one do you want?

Right, because I don't know, um, I'm not gonna say definite, but I'm not aware of there being really any offers on that. I mean, Nico hasn't told me, but, um, I just kind of—

And there, and there won't be, and I'll tell you why.

But it's over—

it's a complete redevelopment project, and there's only 2— there's only 2 massive redevelopers in Florida, and they are the only ones that'll do something like that. Yeah, DeBartolo is one of them.

I think it's Benderson. Yeah, there's one. He's the one that bought like over 600 acres next to the Punta Gorda.

Well, not, not in— but I'm not talking about a developer, I'm talking about a redeveloper.

Okay.

It's a big difference.

Okay.

So buying something ground up and going with it, that's a whole different animal than buying something with crap on it, getting rid of the crap and building something like that.

Yeah, I gotcha.

Yeah.

And so one of the biggest issues is like in Florida is the amount of asbestos on buildings pre-1980. So anything built before 1980 or 1985 typically is 100% asbestos. insulation, roofing material, etc. And it costs a lot of money to tear that down. There's only one guy in town that does it. His name is Cross Environmental Services, Al Biston, CEO. And he's the only dude in the entire Southeast for 6 states.

Wow.

I didn't know. I didn't realize that. So is that something that's down there? It's not like that here, I know.

I did the roofing. I did the roofing removal for his company. He would, he would, he would supply the labor and everything. I just had to sign the contract as a roofing contractor and go inspect it. And then, and then once, once it was demoed, then we went out and did the roof.

Yeah, because that's a big thing. Yeah. Oh yeah.

No, it's huge. So, um, So yeah, there's quite a bit of, uh, um, stuff that goes into that. That's why I'm like, if the guy's willing to, you know, work with us, then great. If not, you know.

Yeah, yeah. Well, you put it out there to him on Friday, so, you know, he knows that, you know, a strong investor, you can back it up kind of thing. So, you know. We'll see. I'll see what I can do. It's a beautiful piece of— I mean, it's a great location. And it's like, location has a lot of—

location is decent. I like the COVID more than I like anything else. Yeah, you know, having— and again, if you sell it as a condo with a boat included, and then you go— you literally ready for this— you go and you go to the, uh, you go to the, uh, outdoor shows at the Chicago McCormick Place in the middle of December. You go to, you go to, go to McCormick Place in December They've got the outdoor show there. You get a booth and you say condos in Sarasota comes with a boat, you'll have all 15 sold before the end of the weekend.

Oh yeah, I believe it.

So, uh, the town—

I like the fact that it has the boat marina and stuff too.

So say again?

I said I like the fact that it had the boat marina and things like that too. That's why I was surprised, because location, and it is a nice property. Um, but like I said, there's only certain people that are going to do that, and that's probably why that— and it's overpriced, um, why they haven't sold it. Yeah, so I'm still waiting for the green light for the Punta Gorda one to come back up.

But well, we will, uh, let's go ahead and put it, uh, put an opportunity together, uh, if you want. Um, Draft an LOI. I'm also going to send over the joint venture agreement that we have. But are you planning on doing the cohort?

Uh, the build—

the—

what do you mean cohort?

The one that for the Friday Night Lights group, we— the offer for the cohort.

Yeah, I was going to ask you, how do I need to— how do I need to, or what do I need to do?

Because we got Jason, Laura. We got Jason, Laura, Victoria, and then you, and then anybody from— we'll let you extend that to people this weekend at your stuff.

Yeah, there's a couple people that are really interested, it sounds like.

So we can get a QR code made for that, right, Catherine?

Yeah, working on that right now.

Perfect.

So then I just— so then I just go through that and Yeah. Do I schedule?

Yeah, then at that point, we don't need the JV thing at all, 'cause inside of the JV, inside of the Earn It membership to the Land Shark Mastermind, every deal we do is a 50/50. So if we're not doing 50/50s, then this deal, we're helping you get it to where you want it, and however you want us to participate. If we're just helping you get all the resources, we're your team. Then by being a member of the Land Shark from the paid side, that comes without without the the expectation of a participation. We provide the team services as as a fee, like you know agent's going to get three percent, broker's going to get his points for etcetera. But we're not tacking on that fifty fifty of profit too. So that had that membership the the The pay-to-play membership definitely has its benefit to that side of it.

Yeah.

Um, but we figured it would be a, a better, better way of include— including everybody instead of being like, oh, you gotta, you gotta pay us to be in our community. No, you don't. You, you can earn it. Like, I don't have a problem with that.

Yeah.

So anyway, um, I want to call on a deal. I got several deals that have stored up, Catherine. I want to pop this one up. I'm going to share my screen real quick because this one is this one is just a really good example of how badass Deal Hunter is, and so. What we got right here is the— this is an underwriting and, uh, due diligence report of a property, an LLC acquisition.

Oh yeah.

And so it is a 30-page report, um, detailing— let me see if I can get it to full screen. There we go. Detailing everything we know about the property and all the P&L work The asset profile and physical operating model, et cetera. Like, it's got everything ready to go.

Mm-hmm.

Current positioning and pricing on the property, because it's been marketed at 2.3 for some time. It's calling it a 6 cap. We know full well it's more like a 9 or 10, probably closer to a 10 cap. But, you know, this is allowing us to get through it. understand it all. Um, and like, uh, total assets on the books, it's about $1.8, $1.9. So, um, going through it, um, the P&Ls show, um, monthly rental income, and, and like how—

Nice.

We, uh, we have a significant drop-off in September to October, But it corrected itself based on like the season of, you know, people moving, people leaving, coming back, etc. Yeah, they've got a reported NOI of about $54,000. That's why I think it's a 10-cap.

And so, um, how many pads is it?

45.

45.

Its claim is 45. Yeah, so with, with senior debt coverage and everything in place Um, with the NOI stated, you know, prior to debt service, um, we're looking at, uh, we're looking at— it's not going to reach a 1.2. So the $2.3 million price tag is just ridiculous. So, yeah. Um, some scenarios that we came up with is to do like a $600,000 side note. Resolution to get and then just carry or assume the senior debt, get it stabilized and clean it up a little bit more and add, add income to it. There's an area that can be expanded there. Here's the cap values. Like I was saying, at a 9 cap, he's only worth maybe $1.5 to $1.7, you know, and there's a $1.2 million senior debt loan on it. So if we could get the guy to really get realistic about it, we give him $600,000 as a side note and tell him to hold that $600,000 for 2 years. Let us get it cleaned up and fixed up. And then we can move, you know, move that guy out of the way with a refi in like 1 to 2 years.

Mm-hmm.

Right?

Yeah.

So, um, we've got— we want to take over the LLC because it It— we don't want to trigger a due-on-sale.

Yeah.

And then what we looked at inside of, uh, the rest of the— this thing is like, this is, this is bankable documents to, to a lender right here, um, to, to help us get, you know, get it across the finish line. So here's the sources that supplied and, and gave us information about the deal. So it's pretty powerful. Deal Hunter by Land Shark does an amazing job of getting—

Well, that's a lot better than the OMs that I get from my brokers.

Right?

Yeah. That's awesome. I like that it put like the loan stuff too, you know, for lenders and structures and different ways that you can go on this deal. I like that as well.

Right.

Well, it's, it's, uh, puts it all out there in like a nice little package.

Yep, it's got a great amount of info. So, um, we looked at— this is the business that we looked at, so I'm not going to show the name of the business or the location, but what they're asking all the way down, it just details everything out. It shows that there's a The total that the seller's getting is about $15,000 a year from this business. It used to be a lot more. So this deal was ran— we ran this deal. It was getting in 2023, it was getting $632,000. 2024, $723,000. 2025, $577,000. And they're just now realizing in 2026, maybe $400,000. They'll probably cap out at $500,000. Um, so it's been a significant deterioration over the last 4 years, right? It started in 2017. So what was that? What did it look like back then? You know?

Yeah.

So that's where we're looking. But, um, it's cheap and it probably would work. So Um, but you've got over, you know, based on the, the, uh, incomes of the people working there, you got at least $200,000 in, in, in taxes and, and, and payroll to keep these employees that aren't doing jack shit except collecting a paycheck.

Yeah. That's a year.

Yeah. So rage rooms ranging from $60,000 to $90,000 to $160,000 and, and going in and doing all kinds of rage room stuff. Oops. Can't tell you what the business model is. Location, lease, etc. Deal economics. Right now it shows as a no-go as passive absentee. Can't. You got to just be there and run the deal and then have people— once you get the system down and you get the flow rolling, yeah, it'll happen.

Yeah.

So, but I love that it gives some red flags. And again, this is, this is just to do— this right here is just a basic, you know, due diligence report. But to turn it into what we had for that other deal, it's like, it, it, yeah, it gets an amazing amount. Uh, goes into an amazing amount of detail that way. Yeah. What was this one? I need to start labeling them as to which ones are what. Okay, that was the business. All right, that's it. That's all I got. What do you got, Catherine?

That's cool.

So Working on this payment link.

The—

okay, so here's the RV or the mobile home park. Do you want me to share it?

Yeah. I'm on share.

Where's it at?

Illinois.

Illinois.

That's not too far.

Yeah, I tend to stay away from Illinois because it's not typically a Uh, investor-friendly.

Yeah.

Friendly state.

Yeah.

Um, so it's a 49-site community. They're asking $1.4 million.

They give it— did it give the city or not?

No.

Really?

Yeah.

So what was it, just from an email?

Yeah.

Okay.

So 1.4 is too aggressive. So right now there's 49 spaces, but only 34 occupied. There's 12 vacant homes, 3 vacant lots. It's $400 a month for space rent. Revenue is only $175,000. Okay, so if we go down what the numbers say. So with an estimated revenue discrepancy, it must be resolved. So 34 spaces at $400 a month is only $163,000, not $175,000. So where's the $14,000?

Somebody doesn't know how to use a calculator.

And where are these park-owned?

Are these— so, so these are— it doesn't— again, doesn't— it didn't give me all the details. Likely park-owned utility reimbursement. Um, late rents, all that. Do not underwrite it at 175. Um, based on—

Let's give them a call. What is it, an email that came— this came in from?

Yeah.

Yeah, I would say let's give them a call because it's got discrepancies. It's got— it's got— so in these types of situations where they're all over the place with stuff, Like even it says right there, the asking price market indications are asking price market indicators, not closed sale comps. And it's the same thing we talked with the guy the other day who, who, you know, when the one deal that Rachel brought, he's like, my, my land's comparable to a state-purchased property next to a gold mine where they only have manatees that show up on Fridays and perform seal tricks. It's like that's not a comp, bro.

Right? Like you should know that too. He's a broker. He said that.

Yeah, they're trying again. It's like somebody who's like, "Well, this shoe ready, right?" Yeah. I'm gonna sell you this shoe because this shoe is is like an Air Jordan. You're gonna pay an Air Jordan price because it goes on your foot. Yeah, that's not a comp. Yeah, so helping people understand that, it's like, come on, come on.

I know.

So do you want to call or do you want me to call?

I'll call him. Let's call. Let me call. So it's a broker, um, and the betting starts now. Who's gonna bet he doesn't answer?

So listing broker, out-of-state cooperating broker. I don't know what that means.

Just, just pick one and I'll call it.

So the listing. So we'll go with Jennifer, um, because out of state seems stupid. Um, 213-446-5366.

Is this— I hope this isn't a broker that's in Florida. Are they in Tampa?

No, this is a— this is an Illinois number.

Well, there's a broker that they do a lot with mobile home parks and RV parks, but nationwide, but they're stationed in Tampa, Florida, and they're terrible to work with.

I used to work with a guy, his name was Tom Parks, and we called him Tom Mobile Home Parks because that's all he did was mobile homes.

Yeah.

Please record your message. When you finish recording, you may hang up. Yes, good morning. Uh, calling about an email that I got about, about a 49-site mobile home park in north central Illinois, the I-57 corridor. I'd like to get some more information on this. If you would please give me a call back. My name is Tommy. My phone number is, uh, 602-888-9199. Thank you. Because again, if you can get it tied up, then you take it over to Dispo Buddy and get it signed up and then sell it on terms for sale, right? Like, you don't have to like doing deals in Illinois. You just got to figure out how to get the deal sold.

Right.

And on this one, with the numbers all being jacked up, that's one— that one's, you know, pretty good one to mess with.

Okay.

You got another number?

Yep. Uh, 3. This one's for Nick. He's the out-of-state broker, which, uh, 303.

Hold on, hold on.

303. 335.

Try Tracy.

6398.

6398. And his name is what? Nick, Nick Vander Sloot. Oh, I think I know Nick Vander Sloot. You never forget a name like Vander Sloot. Ringy ringy, Nicky Nicky, come on. Salty Snow Properties. Apologies I missed your call. If you wouldn't mind leaving your name, number, and a brief message, we'll surely get back to you just as quick as I can. Thanks for your call and make it a great day. Take care. Nick, hi, uh, my name is Tommy D. I'm calling about, uh, a property in Illinois, north central Illinois. Wanted to get more information on it. 49-site mobile home park, manufactured housing community. Um, if you would give me a call back, 602-888-9199. You were listed as a contact on the property. Thank you and have a good day. And so this is why we use Deal Hunter, because people are crazy like that. Go ahead and go and do a prompt. Let's see if we can get Deal Hunter to answer faster than he's Cuss words that I got. Hey, go, go ahead and do a, a deep dive. Try to find a property where, um, Nick Slaughterbaum is listed and Jennifer what's-her-name is listed, uh, as agents on it. It's a 49— just look at the deal and try to find something similar on any of the listing sites.

Okay, I'm gonna give their real names, not— his name's not Schlatterbaum.

Sometimes if you tell it the wrong name, it'll dig harder because it wants to prove you wrong. But yeah, I would put all that in there and then say—

I'm going after the exact 49 site listing first using the broker names, license info, price, site count, and—

Wait, what happened to my prompt? Did it go in or no?

Yeah, it's there. It's all there. See, slaughter bomb. Yeah, that's not it.

It's vendors loose. It's actually VanderSlees.

Okay. Yep. Okay. So broker trail checks out. Not Schlotterbaum, right?

And it will go back and, and like be like, hey, don't be mean.

I found a live mobile home park deal with them exactly as shown on the site. The listing is In Toledo. Interesting. Says Colorado license is that, whereas the material is different. Interesting. I could not find the 49-site Illinois property.

So again, I think it has more to do, um, with the high— highest possibility of the fact that, um, it— this could be like what they call a bait and switch.

Yeah, yeah, right.

Like, this is a trash property, we're just trying to collect numbers.

So the comp killer— this is funny. 50 sites, 68, only asking 1.4. It's interesting. So the Illinois deal, I love that it's like going back and forth.

Mm-hmm.

I'd do an Ohio deal. Wouldn't like Illinois.

Yeah.

I want to call David about that because I just ran— I just ran the, um, yeah, let's put that one on pause. I want to share.

Okay.

The, um, dashboard, because I just got the dashboard up. And so the last thing that was on here was to follow up with, uh, David. On that commercial lot. Um, but for the month of October, we got 3 deals going, 2 episodes inside of the 2 episodes that recorded so far. In September, we ran our most deals. We ran 50 deals in September. That's pretty damn good. So August was really slow. We didn't do a lot of yakking and chick-chatting right there. That's what we did. So, but we got that 122-unit multifamily deal that we looked at, um, that, uh, what's-his-name is running, and the compliance around that, you know, with the $20,000 tag. Then you've got the GPT plug-in shift, you know, we're switching over to a plug-in. I got this dispute with the Marriott. I got the waterfront property that Rachel brought forward. Uh, 17-acre property inherited. Uh, that was the one that we talked to Rachel about as well. So Rachel's got 2 deals going inside of here. We canceled this one with Ashley and just flat kicked her out because she was emotional about stuff. And I don't know why it didn't give me a number 9, but it skipped from 8 to 10. There's the mobile home park in Lyons, New York. And then the commercial lot, that's the one I was like, oh, I want to call on that one. So we got this, uh, this deal was dead. Catherine closed that deal. All right, cool.

I got a huge, um, land development deal in Florida that's in Fort Myers, um, that's off market. It is, um, I believe the seller has Everything ready, but, um, I can't remember the reason why it's not developing, but it is enough for— it's got golf course, um, I think it's supposed to be a hotel, manufacturing, um, not manufacturing homes, but, um, multifamily, and, um, a bunch of different stuff. It sounds like it's almost like a, a little own little town or community inside.

Ortmeier.

Yeah, that's what he's doing. But he won't sell. He'll only sell to somebody that is going to complete his vision and do it like he intended it to be and not just anybody. So he hasn't accepted any offers because of that.

So yeah, those people are very annoying to me. Yeah.

I can't remember how many acres and stuff it is. I think I have it, but It's a huge deal, and I have a couple development, um, 2 development also in Miami, um, and a couple in Atlanta, Georgia. As far as land deals, I have a couple multifamily too, but they're all off market.

By all means, pull them into your Deal Hunter and run them up.

Yeah, I can do that.

So, and then when you're— when you got your report ready, we'll, we'll share your screen and, and run the deal and see where it goes. I want to try to find David's number. I thought it would be on here, but I'm not seeing it. It's listed by Coldwell Banker, $900K. I know a wholesaler who has this tied up right now, so that's, that's kind of where this is at. I'm gonna give David a call and outreach to David. I got too many Davids. Mm-hmm. Hmm. Yeah, and it—

realtors don't work on Monday mornings.

Uh, yeah, I need to get a hold of David. You have David give me a call.

Most, most of the time I wouldn't even bother.

Sending them a text message. But David, um, David comes through with some stuff sometimes, good stuff sometimes. So this, uh, this particular one was the one where like it's a, a scooter shop or something like that right now. It's neighborhood commercial, but literally right across the street is this huge multifamily and a huge retail, uh, retail Strip centers, like right across the street as well. Like over here, all this stuff. So traffic counts 75,000 a day. So you just got to put something here that gets people's attention, right? And then you go talk to the neighbor over here with his jacked up roof and say, "Yo, how about we buy your house and get you out of the way, and then we expand this whole thing and make it all." One, you know, one big block. Turn that into a parking lot. Add more room back here. Whatever. But you know, just two retail centers right there. Boom. That's how my brain works. So we'll have to wait and see if he calls back. But I got a text message from him saying that it's it's ready to go. Like the owner is ready to sell. I'm like, okay, we'll talk on it. Oh, here's the other thing I needed to do. I need to go to Yavapai County. Yavapai County, whatever. Uh, assessors, property search. And make sure you always go to the .gov. Don't go to the .com because the .com is a private citizen company, something like that. Who we got in here with us today? Is Luke in here?

Luke is here. Tina, Ryan, Rachel.

Introduce. Come up and introduce yourselves. Luke and I need to get together on on getting the getting the sub account set up for social medias. Doing a good job of helping us with that. The hell? Back it up, back it up, back it up.

APN number.

What if I want parcel ID number? There we go. Parcel ID number 40416290. And we'll look and boom, there's my buddy's address right there. So, um, I'm going to need this later, so we're going to save it. Because, uh, we're going to be doing work for the guy and I'll have to do a pre-lien notice. So I'm just going to click make it a PDF real quick. Parcel search, win properties. Whatever. Now I need the map. I want to see the map. Appreciate it. Don't show me again. I want this to go away. And what we're going to dig up, um, hopefully is I need to get some property lines. There we go. Town of Camp Verde. So this is exactly what I need. Show coordinates, find coordinates, draw and measure. So on the draw and measure, we're going to draw out the pad real quick just so that I got it. And when I go out there, my camera actually has the same thing where it'll, it'll show me the, um, coordinates of the picture when I stand out there. So when I come back home, I can just go right here and put them in. So technology is coming a long way. It's pretty freaking cool. So now with that done, I can print off this, and then when I go up there, I'll be able to pinpoint— like, this is where the septic tank is. Says it's opening it in a tab.

Come on.

Maybe not. And if that's going to be like that, we will just do this right here and do a screen capture. All right, so now with that in place Anybody else got a deal to run? Anybody want to introduce themselves? Say good morning. Got like eight minutes left.

Everybody's quiet this morning.

I'm here.

Hello, Miss Tina.

How is everybody?

Good to see you.

Good to see you guys. We can throw something in here. I've been looking at. I had a realtor send me a deal for multifamily, and he sent me the rent roll on this too. Let me get into the chat. I'm just going to paste in what he originally sent me here.

Okay, you're going to put it in the chat. Cool.

Yeah.

So But—

The hyperlink didn't paste in, but it's this one here. I can highlight this. So let me just grab the hyperlink. That's just the address part of it. Let's copy that, see if it pastes in as a link here. Okay, there we go. And I did run this through Deal Hunter, uh, and it found some good things.

Yeah.

Do you want to share your screen with it?

Sure.

All right, let me, let me drop off mine.

I should get on my laptop for this would be much easier.

Are you on your phone or on your laptop?

I'm on my iPad.

I like to get—

That's okay. We'll get— we can, we can pull it through ours then.

Okay.

Yeah, because if yours is too hard to share, that, that makes it even worse.

I can see, but it's just a little harder to navigate. I did, I did buy a little mouse for it because I'm, you know, that generation, and I don't like being on a call and touching my screen all over the place. So, but, um, now let me find the rent roll. For some reason, again, it's not coming up.

Um, um, Layden, how'd you manage that?

Cats are sitting outside. It's so nice. Okay, let me see. I haven't figured out yet. Sometimes Gmail hides the attachments when you reply to that. Have you noticed that?

Yeah.

And it just drives me crazy.

Gmail does what?

It hides. So if you reply to the— if you reply to an email, this— the, the email thread, and they've— and you reply to the one that they had an attachment on, right? Sometimes when you go back into the thread, it doesn't show the attachment.

It doesn't bring the attachment forward with it, right?

Yes. And that just drives me crazy. There's got to be a setting here where I can have it show me, show me the attachment. Now, what I was trying to get to here was the T1 rent roll, and maybe I downloaded that. Let me check and see because I'm creating a little folder here.

Here's the—

I've got it. Okay, I've got the rent roll here.

And so, yeah, I was just showing everybody like getting, you know, getting over to Uh, getting over to Deal Hunter now, you're gonna go to deal— you're gonna go to landshark-dealhunter.com and go run the deal. You'll run a deal right here. Boom, you click that button, it'll take you straight over to a Land Shark, uh, Deal Hunter by Land Shark, you know, right there. Free estimates, same thing. Type in free-estimates.io, um, and you're gonna get brought over to free estimates inside of ChatGPT. Now we're, we're going to continue to do this, but it's going to be switching over to plugins instead of GPTs.

Mm-hmm.

So, but, um, what mine did here was it told me the setbacks from buildings and structures and everything, because I'm going to do a septic tank. I put the map in there, uh, property owner's info, and so it's showing me that, um, Uh, the current, you know, setbacks and requirements and stuff, um, as far as like the septic tank, leach field, etc., um, have to be a certain amount of feet away from certain things. So, and, and so all that, um, in, in here, uh, helps me when I go look at this property later understand where I got to be. So, um, And so right here it says we need to request the county's existing records, and I'll do that right here like this. I just kind of—

Is this on the one I sent you? Is this a different one, Tommy?

This is the one I just— I was running because I like to have them cooking. Oh yeah, this is the— this is the one that I ran. Now this is the— this is the one you ran because it It takes a little bit of time.

Yeah.

It's still, it's still cooking on this one, but it shows here it's got some info already. It worked for over a minute on it. But this one in Des Moines, Iowa, it's a buy and hold 6-unit multifamily with seller carry as a leverage tool. So the asking price is, is $400,000, 6 units, price per unit $66,000, gross scheduled rent is $59,000. So if you can, here's what I always say. If you can pay off the unit on your rent in 1 year, buy it.

Hmm.

And just, I mean, I'm not talking about like your net, of course, but if your gross rent a year equals what it would cost you per unit to buy it, just buy it.

So, and the thing I'm noticing is a lot of these properties— now he does include seller financing here as an option. Or seller carryback. And I did look that up on Deal Hunter because I wasn't sure what that actually meant. And, and so it sounds to me like that means that you're taking out seller financing for that 25%.

Right.

From the seller so that you kind of have 2 liens.

He's giving you up to 25% carryback. Yes. So that you can get, you can get it down to 75% LTV.

Yes.

Does that make sense?

Okay. And then too, he didn't indicate at what percentage rate his financing would be.

Right.

And that's the Land Shark came back and it was asking me those questions. So—

Oh yeah, it'll pick that stuff out too.

Yeah. So here is this. Let me see if I can—

It's got path 1 financing strategy is right here. Did you post the T12?

I'm trying to get it here.

Okay, that's fine. So inside of that, the financing strategies that it says is like, you know, is to purchase it, get a 75% LTV with the seller carryback. We're looking at a DSCR of 1.38. So using seller-reported NOI, so the actual annual cash flow is only going to be about $1,000 a month.

Yes.

Monthly cash flow.

Yeah.

Okay. So once the NOI, uh, drops to 1.2 and the annual cash flow falls approximately to $6,300 a year or even $525 a month. So it— the— there's a little bit of tightness around that stuff. So the best seller carry terms to request though, 5 to 6% Interest, interest only for a 5 to 7 year balloon, no repayment prepayment penalty, and ideal first 6 to 12 months of interest only deferred, uh, or accrued if lender, uh, if the lender permits it. But, um, is it possible? But, uh, you could— that you could do this with little or nothing down, maybe. But backup funding, uh, would be that path to get a 70% bank, 20% seller carry, 10% of your buyer's cash. And then those are, those are the, the third path would be to just go flat, you know, local lender, private seller, carry. So breakeven stress tests are right here. Your income valuation shows that at about $44,000 a year, you're looking at between a 9.5 and a 10.5, you're looking at $400, Value, right? So, but using a conservative NOI, that's where you're able to see you don't have very much equity in it.

Yeah. So, so I just added the rent roll to the chat. Can you guys see that?

Mm-hmm.

And then I need to follow back up with him because I asked him a couple of questions that LandChart came back with. I asked him last.

So throwing that out there, I mean, there's some things you have to worry about. I threw the T-12 in, but get 6 leases and a rent roll, use the seller financing concept, and maybe even push them to go 30 or 40% based on, based on stabilization. Um, so, okay.

And then I'm going to just paste in, um, what I asked him based off of what, uh, the land chart came back with too. It did find— and I noticed this as well— the maintenance and the taxes, or it was either expenses or maintenance, they were the exact same amount. I thought that was Odd. And, and there was another miscalculation in there too. Okay. Oh, I put too many. I have to take out some. Said you have too much in here. Let's see if we can get that down too. There we go. So that's what I sent back to Darson. These were kind of the things that we noticed. Yeah, so his expenses weren't adding up. When we went— when Landshark went through it and added everything up, he had listed $15,057, but the actual total was $21,858. So there was a miscalculation. I'm sure it wasn't intentional, but it was a calculation error.

If you take out the insurance, that would probably be where it's at.

Oh, okay.

If it's not just the insurance, it's insurance and real estate taxes, because those would be, those would be what I would think is what he didn't put in.

And then the supplies and the real estate taxes were both $3,867, which seemed a little odd that those would equal each other. But when we— and that's why I'm wondering if he accidentally just cut and paste something in there twice, because the taxes— and they're not that far off, but the actual taxes that show up on the MLS are $3,961. So again, I'm just wondering if it was a little sloppy putting it together.

Yeah.

So I know, I know this guy, like I said, he's a, he's a good guy. I don't think he was trying to be sneaky about anything. I think there was just, and most likely he had somebody else putting this together for him or AI, who knows? So there were a few things that I, I asked him about.

Yeah.

Yeah. Mine's asking the same stuff yours is. So it's, uh, it's cool that it, it still ends up at the same spot at, by the end, right?

Yeah.

So I like it. I like it a lot.

And then I wanted to know, um, if he could get the actual expense statement. Behind the how he was getting to those numbers.

Yeah. And then of course there's a $6,800 discrepancy in the reconciliation. So yeah, that's got to be figured out.

Yeah. And then I wanted to know what the seller carry terms were.

Yep.

So if we— so for someone looking at this deal, And that, is that what Land Shark came up with? What would work based off of the terms of the loans? Because we'd have multiple loans here.

Right.

What would the, when we, when it comes down to it, what is the final number that would need to work based off of the rent, potential rent that we're getting off of it? Are we looking at a 1% rule or is that what you just explained?

That's the way we would value it is based on that. Okay, that's the way we would have to value that.

Yeah.

So that's, that's my deal I'm throwing in there today.

Thank you so much.

That's very exciting.

Yeah.

Well, we are going to wrap it up then for today. I appreciate everyone coming in. Uh, let's get everybody back together again tomorrow, 9 o'clock, talk more about real estate and all things fun. If you got some deals Bring them forward. And if you didn't get a chance to share today, come back, tell us about it tomorrow. So we do appreciate everyone. I'm going to wrap it up with a prayer. Heavenly Father, we thank you for the blessing of this day and the blessing of this life. We ask that you continue to bless and guide us. And inside of my Bible study this morning, Lord, it said to be of service to others. And that's what I pray everyone in here is able to go out and do, is to use the genius that, that you gave them to benefit and help the world. We ask this in your name, we pray. Amen.

Amen.

All right, everybody, have a wonderful day.

Have a great day.

Have a great day.

Bye-bye.