AI Live - Land Shark Mastermind

Oh my goodness, what?

I would.

Or just something. All right, windows open.

Where's all the— I thought all the kids had all their finals done. Where are all their kids today?

No, Katya, because she's flying here, she had to go to work early today.

Oh boy.

Blake, same thing.

So all right, all the kids, all the kids.

They have jobs, right? They have jobs.

They're working.

I want to update our guest as to what's going on, what we're doing.

All right, so this is all I do is they put the address in and then run this deal and then hit run this deal.

So Nate, to catch you up on what's happening is, um, this is one of the brilliant custom GPTs that Tommy built. And literally what used to take us 3 weeks to a couple of months to analyze and underwrite deals does it literally in like seconds.

Yeah.

Insane. In what realm or industry?

Real estate.

Real estate.

Yeah. So this is where it's all—

I can't read it because it's like— do you have like a movie screen for a— you have a movie? I do.

I'm going to switch my screen.

A monitor?

Yeah.

Yep. Holy crap, man. Like, I was like, I have a really big monitor. I have bad eyesight or something.

Lance has got a big fancy monitor, don't you, Lance?

Right.

Well, it's the only one you can tell because he's going like this, you know, his head travels.

I have a 49-inch monitor.

So I'm imagining that he's in front of a movie screen while he's working at his computer because he's going like that. Like, holy crap.

You have to analyze deals better.

Right.

Holy crap, man.

It's great when you can look at multiple screens and analyze different things on different pages.

There's multiple screens and then there's the wallet Radio Shack. So which one are you, bro? I wanted the wallet Radio Shack. I don't know about anybody else.

All right, here you go with the laptop screen.

I'm, I'm tired of getting up and answering the door for people. People that don't have access to this building, right? So we no longer do.

Okay, now we can see it.

There we go. All right, so because running real estate deals is so, um, daunting and, and a lot of people just don't want to have to become a prompt wizard to, to, to use AI, I dumped 30 years of real estate investing into this, plus my partners, they're 30 and they're 30, and 3 of us all put together this this GPT that operates more like a real estate investor's assistant. So he just put in an address and then put in 'run this deal.' That's the simple prompt. You can do this with a screenshot, you can do this with a PDF, you can do it with an entire, uh, workup from a realtor. Like, it doesn't matter what you feed it, as long as you tell it to run this deal, it's going to come back with the information to, to, you know, I call it the 3, uh, 3-minute analysis that literally would have been 3 weeks in the past because you would have to call a realtor, you'd have to call a broker, you'd have to call a title agent, you'd have to call the city or the municipalities around to find out all the information that we're about to discover. So let's roll through this real quick. Um, uh, property overview information, uh, shows that it's 4-bed, 3-bath, 1,900 square feet, built in 1963. It's on about a, a 0.2-acre lot, um, with a pool. Uh, last sold in 2017 for $495,000. Currently estimated value on Zillow is $818,000 and Redfin's at $868,000. So what does the Shark Analysis say? The initial read is that this is a strong South Scottsdale hold or flip, um, in this area. So have the remodel activity going on, STR, short-term rental pressure, strong owner-occupant demand, and proximity to Old Town and the 101. So these are important deal strategy options. Do a light cosmetic flip. Scroll down. The buy box target purchase is $650,000 to $700,000. Is it listed or off-market?

That's off-market, and it's mine. It's my, uh, short-term rental that got me started in the industry.

Got it.

All right, so now, now basically what I'm doing with this is raising capital to buy a different house, get into another one.

That's a good, that's a good plan. We call it leapfrogging. So rehab budget, keep going down, uh, shows, uh, about a $70,000 to $120,000 budget there. The ARV would push up to $875,000 to $950,000, uh, depending on the finish level. So the split math example shows, um, price, rehab, holding costs, uh, your total basis is at $830,000, but you're, you're, uh, you sell out and exit at $925,000, you'd have about a $95,000 gross spread, right? So would you be able to do— so here's a question: how much of this house do you actually own?

100%.

So you have no debt?

Oh, I'm sorry, yeah, I do, uh, I do have debt, but not much.

We'll show you how to do that in a minute. Keep scrolling down. It says option 2 is a midterm, uh, midterm furnished rental, like for nurses and stuff. Is that kind of how you're holding it right now?

No, it's a, it's a short-term rental, right?

But it's furnished, right? Right, correct. Okay, and then on your bur strategy, what it looks like on the bur is keeps going down. Okay, funding structures right there. So it's talking to you like you're the investor. Let's get it to look at it like you're the owner and turn it around a little bit. Okay, okay. Put it on speaker, on the dictate, and I'll talk for it. I would like to—

hold on, I, I gotta allow—

I would like to review this property as a, uh, a way for me to leverage into my next, uh, real estate rental property. I either want to sell this property or leverage it in a way that gets me into the next deal. I want to buy something over a million dollars. Give me all my options and send that. And so now what, what you're allowing it to do is just paint a picture for you in all the different ways that, that you could possibly do some stuff. So you're, you're in first position with this, right? So it's going to tell you what its, its, you know, possibilities are based on, on the— not just the market area, but like what's available, because it— its brain thinks like all the other real estate investors out there. I built— I built this with all of the gurus in mind. So go ahead and scroll through it a little bit. Let's see what it says, right? So option 1 is to sell and trade up. That's the most basic and easiest to understand, right? Right. So Um, oh, by the way, if you don't have Plus for this, it's not going to operate at full potential. You're operating at 25% of what this thing's able to do. Right, right. So on the free version, it's, it's very minimal. But again, you know, when you get addicted to it, you'll go buy it, I promise. Right. So, uh, go ahead and go down a little bit more. Looking at it here gives you all the pros and cons and gives you a ballpark of what you'd be able to be liquid with. And keep going. Doing a HELOC and keeping the property, that's another way you could do it. Go ahead and keep going, keep going, keep going. Yeah, it breaks it all down, like it comes— it gives you all the computation that you would want. Without having to do very much computation. Keep going a bit more. Cash-out refi, this is where you're going to do more of a BRRRR method, but you already know this. Um, I want to explain it to everybody else. Um, uh, Lance's option here would be to get a what's called a cash-out refi, a DSCR loan. Have you looked at a DSCR for this?

Uh, I have a conventional loan on it right now, so—

right, but have you thought about doing a 30-year commercial loan on it for— nope— for a rental? Nope. So we might, we might get you to entertain that idea, um, because again, you could basically— it's like pulling all the equity out of it, uh, to, to reinvest without, uh, selling it and having to pay capital gains before you, you know, before you reinvest, right? So that's why it's an investor-type loan. Um, so, and they don't care what you use the cash for either. So keep going down. Um, and then convert to STR— it's already an STR. Keep going down. Option 4 wants you to convert it and then use the income to qualify for another loan on a bigger property. So, uh, this would be a good opportunity for you to kind of take that investor survey. Um, you wouldn't be able to do it on the free version, but, um, I would, I would encourage you to do the investor survey so that you can definitely, uh, get, uh, get a better understanding of which way you want to turn with this. Because again, some people don't like debt. Some people are what I call Dave Ramsey's stepchildren, right? Yeah. And they're like, oh, that— it's like, okay, whatever. Um, and then there's others that are like, they think they fell out of Grant Cardone's uterus, and, and they think that's the greatest thing in the world, and they can have all the debt, right? And, and they don't understand that eventually they're gonna have to pay it back or go to jail. You know, Grant just got a lot of rich friends. Not all of us have that, right? So that's how Grant's able to stay out of jail. Um, I want to change his name to Uncle Ponzi, but that's something else. I agree, right?

Dave Ramsey will save you money, he won't make you money.

No, and, and Grant Cardone will get you put in jail. So, um, you got to be careful who you follow. Um, I'm more— will you quit pretending like you're a lawyer over there? I I really don't. I don't.

We are on social media.

We are live. That little— if that little pipsqueak was right here, I'd take two fingers and pound them right in his chest right there, just like that. That's what I would do.

Happy Monday morning, everyone.

There's Blake with his wow. We need that.

Wow, wow.

So this is the Land Shark Mastermind. This ain't the— this ain't the Sunshine and Bunnies Mastermind or the Pansies and Daisies.

All right, so I'm trying to— like, when we need all his—

right, so, um, anyway, so yeah, that's how that would work. Um, if you don't mind, stop sharing. Let me jump over and get Catherine to pull up the Land Shark, um, investor survey for you, Lance. I appreciate you. Okay. Knowing this deal, and we'd love to talk more about it. So let's book a call and do that. Um, Catherine's gonna jump back over.

Okay, so for all of you, you would go into your—

if you have the paid version, go to GPT, go to paid version, and then you search, searching Land Shark Mastermind. I'm sorry, investor survey. Yeah, but it's, it's Land Shark first. Gotta find the Land Shark. There you go. 90, 90. We got 90 of them going.

So right there, this is what it looks like. Almost looks like the Dolphins logo from—

not really, Florida. Not really.

All the colors.

Not really. Start, start chat. And then, um, to To give Nate an idea what we're doing, go ahead and click one. And so, um, we created an investor survey that asks 125 questions, and they're anything from multiple choice, Likert scale, ranking, multi-select, or even open-ended. And when they're done taking it, they're going to get results, and I'll take them over and show them the results if you want, because we don't want to do 125 questions right now.

Right. So that was, yeah, what you walked in on.

Go back to the— no, go back to my email. I want to show them the actual results. It's in this one.

Well, sorry.

This one? Yeah. And it's the first one. So when his assessment's complete, what it does is it gives them the prompt. To become a Land Shark Mastermind and then to copy their results and email them to me. Slow down, go back up. And then so what they're getting is they're getting a results of kind of like a Briggs Myers result personality test. Scroll down a little bit. Now their primary core archetype for this guy was a systems architect. And then you can see all the points to a system architect. Yeah. Um, keep going down a little bit. The second, second archetype is right there. And that's a cash flow philosopher. So you've got like a mom and dad type of archetype that feeds your personality as an investor. And then so from that, how the archetypes work together is now, uh, analyzed. Then what the weaknesses are and suggested investment styles. And then there's even some like, uh, underlying like personalities that we tie into it. But what I did was I went and took every real estate investor out there, Grant Cardone, Cody Sanchez, Robert Kiyosaki, and made a profile for each one of them, had the GPT analyze who they are in the real world, and then come back and be that profile here. And so for every question asked, it gave them a point toward that over there, right? And so At the end, the results were this. I got a small degree in nursing and science. So when I did the, when I did the test, I built it with the understanding of this being a research exam. I built it with the same principles in mind of what I would do for a survey in nursing. So keep going down, it shows the supportive, uh, investor personalities like I explained, like a scale amplifier, stability optimizer, strategic learner, and then gives a summary of it. Now to that summary, I take it back, and if you want to go back and show them what I do with it— no, go back to GPT because I want to show them what I did where we got to go clear, clear out of that one.

So you're talking about over here?

Uh, yeah, go to my real estate. It says REI Virtual Executive Board. And so this is my executive board where I put the investor profile, put it in here, and it analyzes it and then gives me back a breakdown. That's how I get their 90-day, 90-day blueprint, a 12-month business plan, is by putting it in here and letting it analyze it. So I don't know if you're familiar though with what a virtual board looks like. Okay, let's show them that. Go back up. Get rid of the turn. I don't know why it's saying that they can't hear me. Can you guys hear me? There we go. Um, so on this one, a virtual board. Go down all the way to the front, all the way to the bottom. Or actually, just go to Sources. They moved it right there. See where it says Sources? So in here, what I did was I created a, um, um, there's an app. Is this it? No, you're in the wrong one. But REI Virtual Executive Board, that's the one. Sources. So in here, I created the instructions, the test bank, and then I also have the board profile. So click on the Virtual Board Profiles.

PDF.

Yep. And what that is, is that shows all of the profiles and what their beliefs are, right? And so now they speak and act and talk and do all the things just like as if they were aboard, right? And so when I have the discussions with them, you can go to the instructions, you'll see instructions explains how they're going to act and how they're— what they're supposed to answer like and, and all that stuff. So it's important that they, you know, that the virtual board understands their premise. So leave that one and then go back to the chats, and I can show them that. Nope, right there where it says chats. So here's where we'll, we'll pull together. I'll pull in any of my plans and say, okay, run this deal, you know, run this, this plan, and I'll let the board dictate what, what they see coming from it because they each have their own, their, their own approach to it. So that's cool.

I like that a lot. Is it exclusively in the—

nope—

single house, single family residential?

Nope, it'll do commercial, industrial. I got it to— I got, I got Deal Hunter to actually do a doing an— as like a valuation on a sports car that was going to the Barrett-Jackson Auctions. I said, I don't know nothing about this car, run this deal. I took pictures of it, sent it in, said run this deal. It came back, said this is the type of car, this is how much you could, you know, try to pay for it. Don't pay more than this. And so yeah, it— again, I think same rules apply. And then you give it that creative learning opportunity. It does that stuff.

Okay.

So is it mainly for like existing real estate or does it work as well in development?

It does development. That's why I actually created it. So if you guys go on the other one, is go to, go to our GPTs and go to free estimates. And so the reason why I created both of these, the first one, the Deal Hunter, was so I could analyze deals faster. Because I get 150 a week. And so sitting there, I'm looking at it and I'm, I'm literally not answering certain ones just based on like really quick analysis of the words. I'm not even looking at what the return on investment would be. I'm not analyzing any numbers because I'm just looking at the words. And if the guy, if the guy said something wrong, I'm skipping it, right? Where now I can just copy it, paste it, put it in there, say run this deal and see within 3 minutes if it's worth it. So the flip side is when we got there, or when we get to, uh, a job or a house or a project, we didn't know how much it was going to cost. So I created this, and in free estimates, we can add pictures to it, we can add blueprints to it. As a matter of fact, Catherine, I think I've got some blueprints in here. We can just quickly do a, an example of— go to the plus sign. Upload file, and we could probably go, um, go down in the list right there so I can see, uh, if I have any blueprints anywhere. Yeah, we can— if you can search, just type in blueprint. Maybe all one word right here. No, maybe all one word. Um, okay, scroll down over here. Um, No, keep going.

That's it, that's the end.

Oh, that's the end of it. That's weird.

Um, you're also on my computer, not yours.

Yeah, I know. Um, go to RV Storage One doc right there.

This one?

That one. Yeah, I'm gonna open it. Yep. I was hoping that I could see it before we open it, but—

Do I pull it up here?

Um, yeah, I guess so. Trying to see if there's one that has drawings. It's bouncing around down there. Nope, this is not it. Um, yeah, I don't know. Um, do the Texas AZ lot. Nope, get rid of that one too. Um, I changed the, the, the search term. Oh wait, there's one. 2023 blueprints final, right there, up right there. Yeah. See what that one is. Perfect. Move that one in. So this was a, this is a cabinet that I was looking to build. And so I'll use this as an example. Uh-oh. Where'd it go? Why didn't you just drag it and drop it? Crap. Okay. There we go. And now dictate. All right. Now I need an estimate on this, set of blueprints and drawings right here. We're gonna do this cabin in, Show Low, Arizona. I don't have the zip code, so just go based on what you can find. I'm gonna need a full material list and a cost breakdown because I'm gonna be the general contractor on it. So I wanna know what it's gonna cost me to get it built as a general contractor, not as the homeowner. And so review the— is it still open to review the blueprint so we can just kind of look through them real quick? So, um, this was something I already built, so I already kind of know the numbers in my head. But the bungalow house, scroll through it. It's got two, it's two shipping containers that have a roof over on it. So keep going down. Keep going down. Yep. All the elevations are there. Looks good. So it should analyze the entire thing here. Yep. Awesome. So it should analyze all those. Let's go back and look at the— what it did. So now it's, uh, working through it. Giving the, uh, materials, labor, and then the subtotal. Because again, I can then say, wait, this materials price doesn't sound right. The other thing I can do is convert it over to, uh, price per square foot, which is very helpful as well.

Is this all based on stuff that you have entered into the system and trained it, or this is—

this is pulling it from area, local area permits, because when you submit a permit, you have to put a price. And so it's pulling that and bringing it together. And here's the best part, I'll show you at the end. Keep going down. It should have a section where it's got sources. Click on sources. Arizona fee schedule for permitting, uh, Axios. What the cost of short-term, uh, the, uh, it's, it's like a, a, they're just doing a, a, uh, a draw or an article on what the, the, the current situation is in, in Arizona. So all of the information here is coming from either, uh, accredited, uh, or, or validated sources, or it's coming from somewhere that's providing it with a thought basis. So, um, but again, I— when I built it, I made it— I said I want to know all the sources. So go ahead and hit the button over there on dictate again. This all looks great. I want to see what it looks like for price per square foot. And so showing the cost to build in that area right there.

So, again, this used to take like 3 weeks or 3 months.

This would have taken, this would have taken a team of people to do this estimate. At least a week because I would have needed electrical to look at it, plumbing, HVAC, mechanical, um, and so all those people would have had to been involved in putting, putting forth the information. So, and then watch, do the dictate again. Oops, I made a mistake. I'm building this in Florida. The zip code is Uh, um, 33541.

Changes the numbers quite a bit.

So now my price per square foot's changed everything. And so I had a customer call me, they want it built in Wisconsin. Watch the— go back and hit it again. I had a customer call, they want the same thing built in Kenosha, Wisconsin. And so when you, when you're able to, to produce like this in construction, we have ads running out there for people, um, to, to get into this. This, this is where I'm able to now, okay, white label this for a general contractor in Wisconsin, white label it for a general contractor in Florida, Texas, and they don't have to have— it doesn't say free estimates, it says, you know, Charlie and Sons Construction, because I— all I have to do is copy what I've done here, put it over there for them, and logo it for them, and then put in a call to action that every time, you know, if they're using it internally, I can leave a, a, an instruction in there for it to have a, a report this back, and, and there's the link to the website. Boom, you know, click here to submit this for an estimate, whatever. We can build it to, like, out here. When I, when I do it, I can tell it to create a, because I can put the template for an ROC contractor, contractor's contract. By law, there are certain components to the contract that have to be met for it to be a legitimate contract. I put that template in here, and then I tell it, create a new ROC contract based on the template in your knowledge base. Boom.

I feel like this also for developers and for like smaller scale home builders.

Yep.

They can use this like my brother does that in southern Utah. I have a couple other friends that they, their clients want to be able to, if it's custom, they want to be able to go and see what tweaks will do to their final line.

Yep.

And right now without this, it takes weeks before they can get like, oh, you're, you're tiny tweak to your bathroom, change your price by $30K.

Yeah, like, right now, go over to the— go over to the, the conversation and we'll, we'll wrap it up with this. Nope, close that out. I just want to go to the conversation part. Conversation over there, right there. Scroll down. And it was the rental property last week that we looked at. Keep going down. It's under Refund Luxury Rental Deal Analysis. Just click that. So I went here and I looked at this, uh, property, um, as a, uh— it didn't show up. Go, go up to the top. Those are, those are nothing. Just go all the way to the top because it's got the, uh, house on it right there. So we went and looked at this house, and I was like, okay, cool. It was built in 2021. So when we went in and looked at the pictures, the pictures showed that it was dated kitchen, dated bathrooms, right? So I said, okay, cool, go down to the, uh, conversation under— so we ran the deal through DealHire, and then I said, I want to know what it's going to cost to at least do the kitchen and bathroom. Go to kitchen and bathroom remodel right there, and then, um, right here, go all the way up to the top. You can see that I pulled the pictures in, told it I want to do a full remodel. It did the, did the math on it, and it came out showing that the, um, the property was worth, uh, or the, the project was worth around $244,000 right there. So, and then, uh, as you go down, I said I want to know what that's going to look like. What did you plan for it to look like? And so here's the conceptual drawings that it gave him.

I did the whole thing within minutes, right? All right, like a whole visual, like imagine.

So then I said I need to, I need to, I want to do I want to do a contract. And so when I told it I want to do a contract, now here's my contract for just that.

Done.

And all of that was done. Scroll up. You can see, you can add up how long it took because it gives you a little table of how long it took to create. On this one, it's, didn't even give us a time, so I'm assuming it was instantaneous. It doesn't show, it's not showing the times that it took to create the answer, but it ranges anywhere between 3 seconds and, like, 3 seconds and 3 minutes, depending on how much information it's gonna put in there. So when you've seen Lance, Lance was using his free version, very sparse. And the way that I've learned is that with GPT, the free version has an IQ of about 100. And then when you get the paid version, the Plus, it's got an IQ of about 120. And then when you get the big one, the $200 a month, that one's got an IQ of closer to 180. And it's a ridiculous speed and all that. So, but yeah, these are, and then one of the other things, this is, I want to just kind of spin off just for one second. Do you have your phone that you can show? Catherine started on peptides. Can I tell that?

Yeah.

And so we created a peptide GPT where it tracks her, because I'm a nurse, I taught it to do all the nursing stuff that you would do on the GPT. And now she can use it to track her peptides and all that.

So here, I can show it from here. So what he's talking about, let me stop sharing. So let me share from this computer.

A lot of people are like, go use Claude. I agree. Everybody should be using Claude if you're running a business. Yeah. But if you want to talk to customers, use ChatGPT. Don't, don't try to talk to customers through Claude. I don't think it's even possible yet. But GPT, you can definitely do it.

So, so now y'all know I'm doing peptides dealing with Being a female and all the super not fun things. And, uh, you don't have to show them it.

Just show them the GPT.

The, the check-in?

No, just the, the, like the, yeah, right there. So it's Catherine's peptide, uh, peptide stack GPT. She can, uh, it says start my check-in for today, review my weekly, do generate a monthly report and then get a journal, uh, and keep a journal of it. You know, what— where are we at today? So that way when I go back, you can check at any time what any of that stuff is. So it's— I think it's important that people— excuse me— people understand what these tools are useful for, because so many people like, oh, this one's better than that one. That's like saying Facebook's better than Instagram.

Well, for all you women out there, I found a female doctor who understands all the female issues. Anyway, so if you want connected to her, just let me know and I'll happily make the introduction. She's amazing. And then we have somebody who can create possibly a custom GPT for you.

There you go.

And all your health things.

There you go. There you go. So I think we're, I think we're out of time. Does anybody else have anything to add, throw in, or, or, or toss up?

If not, I don't have anything to add, but I did have a question. Are we meeting this afternoon at 4? Do we, or, or whatever? I see that Trevor is not available till 4:30. Do we want to move to another day? What are you guys thinking?

No, I think we can. Can you squeeze it till 4:30?

I can, but I don't know if everybody else can.

I mean, we're gonna make them.

Okay, we're making them 4:30 this afternoon.

Drop out?

She did.

Okay, no more freebies. Okay, everybody hear that? Can I get everybody to hold this one back here accountable to leave every person play, blah blah blah blah blah blah?

She just loves people.

Okay, yeah, okay, you like people. Yeah, so no more freebies. I'm getting a side-eye think I, uh, anyway, so if nobody's got anything else, tomorrow 9:00 AM we are starting with the, uh, is going to be the, uh, Titan 23 webinar.

If you haven't gotten registered, go get registered.

Do not come to the Land Shark tomorrow and expect us to be here because you will be in an empty room with people looking around like, can you put the event right? So go, go get registered. If you're a Land Shark member, we'll know who you are, we'll pull you up. If not, you're going to stay and pay, uh, if you want to play. But tomorrow, the Titan 23 webinar. Wednesday is going to be the, uh, the Seven Streams Investor Club webinar. And Thursday, 9 o'clock, is going to be the, uh, Opportunity Zone webinar. And all the different guests that we're going to have over the next 3 days is going to be amazing. So, um, the link Get— if you, if you want to, if you want to ignore us for 3 days, that's cool. Go get deals, get them ready, get them ran, figure out what they are, and then be ready on Friday. We'll run some more deals at 9 o'clock on Friday, but for the next 3 days we're going to be focused on that virtual event. And so we love you all and we can't wait to see you again until Friday. But if you show up over the next 3 days, you'll be our favorite people. So, um, that's about it, right? Yep. All right. Heavenly Father, thank you for the blessing in this day. We ask that you continue to bless and guide us and get us through the day. We ask this in your son's