AI Live - Land Shark Mastermind

This is actually a commercial lot, so we want to do a roof over on the single, uh, single wide trailer that's there, clean up the single wide trailer, uh, and create a, uh, uh, commercial development out of it. We're thinking that the highest and best use would be a bait shop or bait shop and hunting and tackle shop with, uh, vehicle rentals for people that want to go hunting, uh, in the mountain behind the property.

Because your hand, how your hand is, it looks like you've got Your thumbs up. No, the other one.

That was the first move my dad ever taught me. Thumbs up. I could do that too. He taught me that one first. It was the one I was allowed to do. Wow. Your picture looks really, really good. That's a little scary right there.

Okay, waiting for everybody to come on. Think Lynn might be watching. How cool is that? See if I'm live. I am live.

Oh, get him off of GoDaddy. Get it? I thought we already cleaned it up. Everybody, excuse me.

Jody's birthday today. Oh no, it's on the 29th.

What? I just— thing popped up.

Jody's birthday is on the 29th.

Olaque, remote battery low. What? Oh no, man, that sucks. Olaque, where you at, bro?

Good morning.

Good morning. How are you? We missed you.

Are you at home? What are you doing?

I'm currently at home right now. Just give me one second, just tying up my room real quick. Yeah, I was planning on joining yesterday, but I was at a friend's graduation and then we got pulled into brunch, so I was up in Long Beach almost the entire time. So yeah, unfortunately wasn't able to join, but I couldn't miss out on my friend's graduation.

That's good, that's good.

It's my Auntie Barb's birthday today, or would have been. So Kelsey, Tommy, Muhammad, and Skyler.

That's it.

So somebody named Skyler, Muhammad, Tommy, and Kelsey.

That's all who has access. That's it. We're good. Good. Okay, we're good.

Okay, we are all, uh, feeling like I think we have a case of dragon ass.

All right, so what we got going on, we're going to do a real estate deal today. Um, we got a lot of stuff going on. What happened?

Your mic.

Does it sound better like this?

And today is Happy Adoption Day. 19 years ago today, I officially became a parent according to the government. I outsourced the acquisition.

Did a wholesale.

Wholesale.

She wholesaled and sold a lot of equity on that deal.

You get your kids at Goldfield?

I acquired children. I didn't have them, I just acquired them.

This way. But what— anyway, Blake's trying not to laugh. Don't worry, Blake, no one's gonna hurt you. You're over there, buddy.

Okay, Blake. We are live, so you can share on all the things. Uh, Katya is not here because, uh, David is having surgery, so we'll miss out on all LinkedIn things. Okay. Okay, so what would you like me to do?

So, um, I want to have, um, a demonstration this morning Let's get, let's get that contract from Michelle over at Pioneer Title. Okay, off of the email, download it into the, into the place. Oh, by the way, um, Deal Hunter is on DPT along with, uh, some several other large companies like um, Expedia, Zillow, Canva. Okay, so, so that people understand like what Deal Hunter is, um, we're, we're, we're in the same, we're in the same marketplace with those other, with those other apps. The artwork behind your head is tripping me out. So yeah, that's the one you want to download. It's like all of a sudden your head morphs into a giant, a giant, you know, sculpture.

Like that?

And we go Marge Simpson. There you go, Blake.

Marge had blue hair.

There you go. Let's get, let's get that one on Catherine's background. Everybody switch the plates. We're not doing this dumb show on what the cactus is in Simpson.

Well, I tried to update it. In Zoom and it says it's there, but I can't like pull it up. Okay, so share.

And you're going to go start a new chat and deal on her and upload those documents to it.

Deal Hunter. Here comes cute little Alyssa. Hi honey, how are you?

Good morning.

You look super cute today.

Good morning. Good morning, you back?

Sorry, buddy.

Okay.

Hailey Carr is watching on Facebook. Welcome, Hailey.

Okay, come over to Zoom if you want to play in the, in the, in the, in the shirt game.

Blake will put the link in the chat for you.

Blake put the link in the chat.

Okay, so they're up.

And so we put that document in there.

Yep.

Um, what— why is it two of them? Um, let me know. Um, we want to have you review this for sale by owner contract so we can start putting it together on a couple of projects. And so basically, uh, what we did here this morning— good morning, Vincent— um, what we did here is we put together, um, a couple deals over the last 3 days, just, uh, typically during our podcast time we're talking to you guys, and then the rest of the time we're doing deals. Until the last 3 days of doing, doing the webinar, we had a lot of deals still to do, right? So you seen us getting up, running, going, doing stuff, coming back. So, um, this is, this is what it was, uh, all culminating around. So I'm getting a couple of the properties ready to put under acquisition. And we're going to kind of walk through and see if Deal Hunter can do that with us. So what does it say?

What does it say?

Yeah, like, can you just review the review?

Do you want me to read it?

Yes, please.

Goodness.

Uh, just review it with the people. We put a physical contract in there and we're getting it to learn how to do it. Can you explain that or no? I'm feeling brain dead today. Oh my goodness.

Key investor review. So what matters most?

Well, again, weakness demonstrate how deal owner works. I'll do it.

Yeah.

So I can't, I can't do two things at once. So I'm trying to get the deal pulled forward. So can you do the deal pull forward? Okay.

Where is that?

I can tell it to you. Okay, uh, 3, you got to start a new check.

Oh, a new one? Yeah, this is in Deal Hunter.

Just— I know, I, I need to, I need to be able to, to coordinate and go back and forth. So it's— I want to review the deal and fill out the deal and show people how to do an acquisition with Deal Hunter, but I need I need to know that you can operate Deal Hunter. Yeah. Okay. So when we load the contract in there, can you talk to people through it?

Sure.

This is a contract. It's how we teach. I'm trying to demonstrate Deal Hunter.

Got it.

Okay.

So just so everybody catches up where we're at, we go to the GPT store and in the GPT store, we pull up. Deal Hunter by Land Shark. I uploaded the, uh, FSBO. Who knows what FSBO means? Anybody? What's FSBO other than Laura? Blake, Alyssa, do you know what FSBO means?

Is it for sale by owner?

There you go. There's a more— for sale by owner. So yes, uh, that's exactly what it means. And, um, so for sale by owner means that there's no realtor involved. And so we have the contract, we got it from the title company. Title companies typically who are investor-friendly have all this stuff and they know how to do all this stuff and they're really great about it. Uh, so we uploaded the contract. So key investor review, what matters most, the biggest strengths, the biggest weaknesses, what needs to be fixed for the addendum, and then earnest money release risk, due-on-sale exposure. So if we're doing sub-2s or wraps or existing lien takeovers— Amor, really quick, do you want to quickly give a quick lesson or a quick explanation on subject-to wrap and existing takeovers? Do you know what those are? I know you've been taking all the classes.

I have been taking all the classes, but I don't have the full definition to explain it.

No worries. So Subject To is where essentially we're taking over their mortgage. And then WRAPs are—

hang on, though.

Subject To.

So, okay, then you, then you say it.

So a subject, subject to, you're, it's not taking over, then the loan is going to remain in the borrower's name. You're going to take over payments, but it's not an assumption of loan. It generally, the biggest concern, which generally doesn't happen, is the due-on-sale clause. But as long as the bank is getting paid, they mostly don't care who's paying the loan. So it would be an opportunity, you know, if Catherine owned a house and she wanted to sell it and, you know, was willing to have me come in and have it be subject to, so the loan would stay in her name. I would take over making the payments. She would, you know, it's usually done through a third party, a title company or whatever to ensure that. But it is a creative financing vehicle if you were not able to, if I was as the buyer, not able to qualify for my own mortgage or didn't want it, blah, blah, blah. Like there's a lot of reasons for subject to, but it's, you're taking over the payment of it, which is distinct from assuming the loan, which I think it's the third one.

Yeah. And we're going to do one of those today. So that's why I asked Catherine to put that in there, trying to prep one of the properties in order to get that done. I got another one that we're going to, we're going to do, and I'll prep through that after we to get cooking. Amor had a property that she wanted to look at this morning as well. Amor, do you have yours?

Yeah, let me pull it up. I'm trying to pull it up.

Why don't you get that ready to go? Let us know when it's ready. And what we're going to do now is we're going to, we're going to get this one cooking and then we're just going to start rolling through our deals today. So let's go, Catherine, go over to a new conversation there. No, that would be 100% in the conversations, uh, right there. PropertyGaleSnap.com. And so this is the property that we're looking at. Let's go up to the top there to show you. Um, here's the address. So let's do this, let's drop that Facebook, uh, contract in here. And dictate to it. With the information you have, uh, in this chat, we'd like you to start filling out this contract for us. Go line by line. Um, the buyers of this property are going to be Summit Equity LLC, located in, uh, Summits Equity is a, uh, Delaware company, and their location, uh, mailing address is 13119 104th Place, Scottsdale, Arizona 85260. Go ahead and, and review the contract and then ask any questions you think are necessary. To finalize the contract for us. And so now it's got the contract and it's got the prompt. It should be able to complete that project. While it's doing that, let's go look at another property. This one is in the same area. It's called the Outback RV Park. And we're going to go to Deal Hunter. Right there. We're going to tell it the address 730— hold on, hold on. Okay, we need some public record information on the property 73026 US 60, Wenden, Arizona 85357. This is a, uh, an RV park that we are going to be doing a, uh, subject-to acquisition on. Uh, the hard money loan is going to stay current and in place with the owner of record, so we want to find out who the current owner is. Sign that.

Want me to go back to the other deal snapshot?

Yeah, and I have mine whenever you're ready.

And so go ahead and let's pull up the Morse and take a look at that.

Okay, I already fed in the like numbers he sent us, but I don't think you got to see— oh wait, I'm not sharing.

Oh, there we go. This is the RV park out in Court site, right?

Yes, right.

So did he ever get back to us with some terms or whatever?

Yeah, I put— and I put that in here. Okay, so I added in on a sheet what he sent us. Let me go back to it from his, like, tax documents.

Yeah.

Okay, let me just see where it starts though, the tax document part that it put in here. Oh, there. Okay. All right, this is where the financials I put in that he gave me.

It said— what does it say there? Go up a little bit. It says that this is worth a deeper dive right there. Go down the headline right there. But don't move until the numbers are reconciled. So we reconciled the numbers and came out with what? What did it show? Um, okay, the BSCR possibly has a 3.44. Great. Um, that sounds very, very high based on the fact that, you know, is this what is using as terms? Okay, then I put in their tax return.

So like, this is what they're saying, showing a net rental for whatever the tax return shows.

This have a partner capital of negative $2,690. So see what that's saying. Uh, gross rent, all that stuff.

Okay, get the deal, terms immediately, ask the price, all of that. So then I went back in and told it, because I guess it forgot that I had told it the price or whatever. Okay, so it gave me the option. Then I went back in and I said, they told us they're willing to do seller financing. We would need to put down $60,000 to $120,000. And this is what it said, right?

So they took 120, um, is that 20%? Sorry, um, that would be useful for us.

And it says don't offer 120.

It also shows here that, um, you know, the higher down, the better returns. So we'll do it that way, uh, for a month. So we could do a, uh a holdback in that regard. You know, you got the $120,000 down, um, only with protected seller pays and, uh, or credits on loans over $30,000. So anything that pops up, they, they got to take that off the, uh, thing, right? So if we go out there and we fix, put $100,000 into it, because then it's all backed up, that seller note goes from 500 to 400. So, uh, we're going to know what that service number is. So based on if they're making $54,000 before, then $35,000 is, you know, awesome, right?

Yeah.

So I like what the example is down there, performance-based down payment.

This?

Yeah.

Okay, and then I told it the purchase price, all that.

So that does a cap rate around 9. So a more achievable cap rate is closer to 12. Again, when we ran the comps out there, they're going for 450. So at 600, he's overpriced, right? He may not know it because, you know, He's a, uh, uh, fire chief, uh, and all that. So, which—

oh my goodness, Catherine, I don't know, I, I was like, Tommy—

Catherine may have heard this story, you want to tell it? Yes.

So we're on the call with him, everything's going great, you know, Tommy is like, hey, we just want to make this a win-win, we want to support you to make sure you get what you need, all that. He's a fire captain. And then Tommy says something about— oh, he said, I know, you know, you know, with everything that you're doing, you know, sometimes, you know, as a— what did you call— well, we didn't know quite that he was a captain yet, but as you know, in your job and all of that, you know, numbers. What did you say?

I'll say it like I did, and then you can just do the reaction. I said that reading the thing, it says First Responder LLC. I've seen that. I told them that I'm, you know, retired nurse, paramedic. I appreciate what they're doing there. You know, they're in the fire brigade and all that. That's great. And so I said, but at the end of the day, we need the financials to make sense. So I can't have them done by a firefighter.

That's what he said, and he was like, I am a chief.

I am a— I am the chief of firefighters out here, which means that the numbers are even dumber now. But I—

My amor, sell and say—

Did not say that.

Don't say that.

What?

I did not say that the numbers were worse now that he was declaring he's smarter. You know what I mean?

Like, yes, and I'm sure you're like very busy.

You're just a, you're just a, a, a, a, a, uh, construction worker, and the construction worker goes, I've got to be being constructive. Well, then you're a bigger dumbass. That's all that means to me. Like, if you make a mistake and then you tell me you're greater than your mistake level—

oh my goodness. I was like, oh my goodness, should be like higher than what you're feeling. I said thank you. I'm sure you have a lot on your plate. Totally understand, you know.

Amor, amor is the sweetness that I am as an artist. So that's all I can say.

So this is why, again, not your genius, not your job. We let the people who have the certain geniuses have their genius, like being kind, being helpful.

Shovels, and then there's— okay, more as a garden shovel, plants beautiful flowers. Yeah, when it comes to demolition, I was like, oh my goodness.

Okay, anyway, so when it comes to relationship building, we need the garden shovel, not the sledgehammer. Sledgehammers do not build relationships.

No, so that's where that's at. So thank you. So did they ever confirm they take $120,000 down and we could play games or what?

Yes, he said he'll take $60,000 to $120,000 down on the phone call.

But did he say that after the fact?

Yeah, he said he's ready to talk whenever we're ready to talk.

He's available right now, uh, and if he is, then we can, uh, we can jump into that hoop. This morning and see what we can come up with. Okay.

All right. I'll find out.

All right. Let's jump back over to the other deal while we're doing that. Balake, you've been playing Call of Duty too much. You don't have any deals, do you?

I have a deal.

Yeah.

Oh, yay.

Yeah. I found another car wash that I think will be a little bit better than that other one that I found.

Run that thing up. Let's, let's get that. Let's get that on the table.

All right. I will throw it up. I was trying to get more information about it. I attached you to an email last week and I haven't heard back from them, so I probably got to give them a call. I was just trying to see what their numbers were, but essentially, let me share my screen. This is the property. It's just a smaller Express Car Wash that they have. It's selling for $700,000. It has a two-lane entrance and it's in Phoenix. It's right on a corner as well. So it's right next to a Shell gas station. Oh, and then it just has this—

you guys are welcome to join us. You're here for the mastermind, right? Yeah.

Good.

Bring up, so hold on, you guys bring up, just like they have, bring your little, uh, little, grab a little table. You each get one and with the tall chairs and then we're going to be here. So, hi, I'm Catherine.

Hi.

Sorry, I just— That's okay. What's your name? Camille. Yep. Excited to have you guys here. And so we've got people from across the country here, from California all the way to Florida, Washington, and everywhere in between. We have Canadians jump on and a Mexican that jumps on and So this is Land Shark Mastermind, and so we are collapsing timelines and adding commas to bank accounts, and we use AI, and we're literally training everybody to do this. So this tells you a little bit more about all the things, and excited to have you here. Robert and I had an amazing conversation yesterday, so I love that we're taking action immediately. Right? So this is fabulous. Okay. So Blake, who's in California, college student doing extraordinary things. And so he is bringing up a deal that he's using our AI with. And so he's gonna walk us through it. Okay. Go ahead, Blake.

Can you— oh, you see my screen?

Oh, yeah. Put that to 140.

Oh, I'll just throw in random numbers. I haven't used this before because I just created a CREXi account.

Oh, you did create one?

Did you pay for it? No, it was free. Uh, I can— I'll mess with that later, uh, because we have other ones. So yeah, this is essentially the deal. It's a smaller car wash compared to the other one.

And what was the cap rate? Did it have a cap rate posted?

I believe it did. I'm trying to remember what it was off the top of my head.

That's right. We can find it.

Yeah, I'm pretty sure it's going to post it. I think it was a little bit higher, but should say over here. So it's a smaller lot and it's only $700,000 that they're asking for. It was built in 2021, but it also has a billboard attached to it that they're saying can actually create income or revenue, right? So the biggest thing for it is it doesn't have any like reports of how much it can make based off one-time washes and then the revenue or for their memberships. So it's just assuming a lot of this information. I have a lot more of a deeper dive. And then talks about our NOI just based off the cars per day. This all is kind of basic information. I chatted with it for a good amount. Yeah, so it just talks about the numbers, but one thing that kind of stood out was down over here is the DSCR. If we can kind of start out the DSCR, the DSCR jumps up a good amount just based on how many cars we have. But this is also doing it at an average of $12 a watch, which is not what's the actual, uh, feasibility in Phoenix for right now since this isn't Phoenix.

So talks about how we can market it and then also finance Well, a lot of people don't know, but something amazing just happened the other day in SBA. They went to 10 million.

Really? Okay, so explain why that's a big deal.

So currently, SBA's 507 and 504As typically stopped and capped small businesses at $5 million. So if your business was generating $5 million of revenue, you get $5 million of SBA. Now, And that kind of cuts you off because like our, our 7-day company, small business, right? Right. How much is it?

10, 12 million.

Yeah. So how the hell am I going to go get, uh, I got to go get 2 and a quarter SBAs? It's like, like ridiculous just to get that small business, right? So they upped it to $10 million, right? So, um, the, uh The amazing part about the SBA going to $10 million now is that you can buy stuff like what we're doing here.

Yeah.

And get a bigger property going. That door's open. That's what it is.

I'm like, why does it sound like I'm in a freaking video game? Yeah, somebody left it open again.

I think it's the freaking crazy lady that was here the other day. Somebody keeps unlocking it. Yeah, anyway, all right, great. That looks pretty good, man. Like, now what, what we probably need to do is get on the phone with them, um, and, and see what they, what they want to do there. Um, the, the cobblestone, uh, right there it says cobblestone.

Yeah, these are the competitor prices because online they don't really show their own pricing.

Right, right. So I actually know the guy that ran Cobblestone and, uh, 3 Minute, and then 3 Minute became what's called Dash. And so he was the CFO, or the guy I know was the COO and CFO over there at Dash and over at Cobblestone. Okay. Yeah, we can like get— we can get due diligence run through with them. We come look at it for sure. So, but yeah, the membership thing is huge. They should have a membership thing there. I believe that they do. I'm sure, you know, it can get built out.

Mhm.

So, but yeah, this looks like a pretty decent, uh, setup. And again, you're trying to just get people to come and use your water because the water there is the cheapest thing. You get in the water for like 6 cents a gallon or less.

Yeah, which isn't bad at all. But like, I think another thing too, to make it even stand out is allowing it to have like ceramic coating for the Arizona heat and how harsh it is. And then also even like having referrals to other shops, either that be like trim repair for a car or even like window tinting, just kind of having that different streams over there as well. And then small little upsells, like it was mentioning. So there can be multiple different streams. We don't have to physically do the labor on site, referrals with different shops, right?

So, okay, I like it, I like it. So, um, let's go over to the boards behind the wheel here. Um, Tina, good morning. We did not get enough time, Tina. Time, I think.

Tina, that is true.

3 minutes to talk today. Tina's 2 minutes to talk.

That's what are we doing? So good to see you.

You guys too.

What are we looking at? Um, Tina talking.

Okay.

Oh, I'm talking?

Well, you were not available to download with us yesterday about the 3-day seminar, and I would love to know from the one and only participant through the entire event what she thought about— because everybody else, believe it or not, stayed attendees, and so they just stayed down in the audience and they come up and play with us. And so we appreciate you being here. We want to know what can we do to make your experience better and more enjoyable during the presentation, during the conference that you guys held. Did you guys— was there value for you? Did you find Did you find some nuggets that you're able to apply? And if not, what can we do for next time to make sure people like you do find those nuggets?

Yeah, I mean, I feel like I grabbed a ton of nuggets out of it. I love learning about the Opportunity Zones. That was— there's some new content there for me. I haven't done those before. Learning about all of the opportunities to, you know, for me, I want to invest, you know, I want to make an impact. I love the impact investments. And so my— right now I'm just looking for places to kind of put money that I pulled out of my 401 and know how to do it in a way that I'm comfortable with the due diligence level. And, and so that's, that's kind of where I was focusing on getting a lot of content, which there's a ton and there are many different options available. Um, and then obviously all of the cool features that you guys are building into the Land Shark and, and Titan and opportunities to get together in person, I think are great. So, um, yeah, there was a ton, ton of information. It was a lot of information to take in, but, uh, for me, yeah, that's, that's what I was targeting. I don't know if everybody else When I'm—

yeah, and certainly want to help you get into that impact, uh, investment that you're wanting to do so, um, we can continue to grow, uh, the, the ideas that you have. Um, uh, I remember we ran, uh, the Bean property and talked about that, um, which was, uh, amazing, um And so we want to see where you're headed next with— is BOOM! going to be something that you continue to pursue, or are you going to look into how we can do Opportunity Zones and maybe sponsor an Opportunity Zone? Because again, you don't necessarily have to be the investor to an Opportunity Zone. You can actually create one and then get the investor. Right. And that was something that I didn't really touch on much yesterday was like, sometimes we need sponsors more than we need investors. Right. They're there. Right. We want to take on that responsibility of finding the deals, putting it together and getting the investors in the right spot at the right time.

Yeah.

I actually went out onto the Iowa's Opportunity Zone website just to see. right after that meeting. And the funny thing was, I was driving, I was having a meeting with a woman regarding Boone and a project that she had done in a local, a small rural community near where I grew up. And, uh, I'd parked out on a gravel road, kind of just driving around looking at the land around there. Drove by an art KOA RV park. I don't know if you guys are familiar with the KOAs.

I've got a KOA right down the street from the one we're about to do right now.

It was super, super cute. Like, they had it. It was just really cute. I had no idea it was there. I ended up on a dead-end road and I ended up— I got stopped by the police. They came out there and they're like, what are you doing? I'm like, just driving and getting lost. Just looking for some opportunity zones.

That's hilarious.

They're like, you're just sitting in the middle of the road. I'm like, yeah, nobody's here except for you and me.

That's funny.

We're glad that you came in and hung out with us for 3 days. So, and, and so we're glad that you're actually a part of the Land Turk Mastermind as well and share every day. So we appreciate that. So let's see if we can get something fired up for you as well and continue to grow that opportunity out there in Iowa.

Yeah, I might say this too, Tommy. My son's working with a friend of his. They're looking at flipping a house here in Des Moines. And so I said, okay, well, you know, I'll consider looking at it from maybe I can be a lender on the property, just, just, but I need to know your numbers. And so I asked him for the address. Um, I don't have pictures yet, but I threw it into the free estimator just to kind of see what it would come back with. And I wanted to throw it into the Land Shark to kind of have it give me— it was built in 1907. Uh, now they did tell Layden and Dalton— the woman, the older woman that was living in the home and needing to move, told them in secret that she thinks she hears her husband say her name. And, uh, and other people feel like they have heard people speaking and footsteps. And so she's like, I don't want to scare you, but just in case you're here working alone, maybe you might hear someone saying your name. If that's— I don't know what I believe about that, but if it is real, like, you need to consider that for resale value, maybe.

I bought a haunted house one time and I kept it that way. Like, literally, I didn't do anything with it but keep it creepy and disgusting. And then in October, I sold tickets, $25 a head, and I didn't do anything in it. I just literally left it as is and let people walk through it for $25.

People love scary things.

Like, oh, they will tonight in your dreams though. Yeah, this be real one now, not one of those fake spook, you know, spooky spook houses. We're not— they're like just looking around, we're like, this place is empty, there ain't nothing. Yeah, I know, scary. You know, you came in here with good conscience because Only I'm trying to find people that are old and take the spirits with them, you know.

Yeah, I said we might need to bring some sage leaves in and burn them, and I don't know.

Okay, crazy. So that's where I am, but thanks, thanks for including me, you know.

I loved it, it was fun, wonderful information, and I've, I've got a ton to go off of. So just stay involved, see where we can go, where I can help out and be involved too. Let me know.

I will do it. So appreciate that. Catherine, do you have— can you pull now up our, uh, deal on Second Street? Let's take a look at it. And if Amor is, uh, over there on the phone, give it thumbs up or whatever. So here we go. The contract start— this is a draft of it, so everybody look at it. So fill, uh, line by line, fill status So, uh, uh, on line 1 it needs seller name, marital status, mailing address, email, phone. So, um, we got to get all that. Buyer information's right there. Um, then we've got the real estate agent info, which is going to remain blank. We don't have one. Property information on page 2, fill that in. So briefly, legal description, we can get that from the title commitment. Um, property type, it appears that it's a mobile home, so it has, uh, I do believe it has a fixture status, but we'll have to double-check. The close of escrow date, we're going to try to close on this deal probably, um, no later than May, uh, May 30th, um, or even like June 5th, maybe. So we'll have to add that in. Sales price, um, we're on this one, this one we're just doing an assumption of the— so it's like we're just assuming the project, we're taking it over. So the sale price is like $10,000, earnest money, girl, stuff like that. Uh, new loan with financial is we can. Not yet. Um, so there's no seller carryback financing. It'll just say that we're assuming a loan right there. Assume something with existing loan right there. So we'll do that on page 5 and 6. Okay, cool.

So literally, here's what I love about this is that we could literally either take a screenshot or go line by line and tell it exactly what we want, and it'll literally fill out the entire form for us the way it needs to be filled out. Like, that's how brilliant this is. It takes all the guesswork out. Okay, so what do you want to do now?

So I think what we can do now is we can tell it to go ahead. Go ahead and put together a list of all the, all the questions that we need to answer and we'll run through those verbally. And then, well, we'd like to get a breakdown of this and put into a canvas. So go ahead and start with the list of questions so we can answer those. Amor, did you talk with your guy?

No, he didn't answer. I sent him a text.

Okay, okay. So let's just say here, there's our list of questions. And so this is something that can be put together. We'll go through line by line, um, and, and once we have this information, we can go through and give it to it. And then what it'll do is it'll put it into the actual— sorry, sorry, sorry. We can go now. Awesome.

So Laura's our transaction coordinator. So once this all gets started and she has all the information, We can send this to her and then she'll be able to fill out the form. We get it over to Title and we move all the balls forward. So it used to take hours and hours. Literally, it can take just a few minutes. So it's asking all the great questions.

Yeah. And so that's what we like to do is we like to get it to interview us. Like we can't expect it to be the smartest. So it'll interview us, get the information, and compute it back out, right? And so that's, that's the best part about that. So, um, um, over, over here in property owner lookup, so this was the, the RV part. Let's go see what it says. Shows here that best public record is Richard Stevenson owns the RV park right there. Um, and so we're going to do the same thing here, but all we're doing here is we're changing it from the ownership of Rick Stevenson over to the ownership of the Outback RV Resort. And Rick is part owner, right? And so this is where we're actually, uh It's going to be a subject-to loan again, staying in Rick's name because he's got a balloon payment on it, about $300,000, $400,000. So that's going to stay there, and then we're going to take over the payment for him on it and move forward. The one on Second Street, we're actually buying it at zero money down because we're, we're assuming the loan. We're not taking it over subject-to. The loan's coming into our name. And so we'll be doing a loan assumption and then a subject to where the loan stays with her. Anybody have questions about that? Did we lose Blake?

No, Catherine.

Did we lose Blake?

A, where you at? He gone. Okay. All right, so all the colleagues that are out here, so, um, all right, so, um, he was running the deal. I was waiting for him to come back or something on that, right? Or no? Maybe not. All right, so, um, a board Um, we're going to wait to hear from the firefighters.

Yes, the fire chief.

The fire chief. Let's give them all the kudos possibly. They're so gentle. Um, the, uh, here's the thing, ER— I told him I was a paramedic because I knew if I told him I was an ER nurse, we would have, we would have fought like right there. That's like, that's like You would've heard the swords on the sheets and it would've been a sword fight right there in front of you. So I actually prohibited that fight from breaking out because I kept my E&R credentials. Like, I don't have the, the, the micro ego that a firefighter has, so I just kept it under control. Like, it's okay. You can be the hero today. It's all good.

It's like the ongoing fight between what are those two families?

Police and firefighters in the left lane.

Yeah, that totally is how this sounds. Like, why are we still fighting?

I don't know.

Cause we've been fighting for decades.

Yep.

That's how it works.

So long story short, if they, if they come in and so this is the deal that Amor was able to swing. This is how crazy this is. They have a $300,000, I think it's like a $300,000 hard money loan on this property right now. They want to go pay that off and then allow us to pay them $120,000. As our— $60,000 as our down payment.

Okay.

Again, to me, the number, it's firefighter math. And I want to— I, I feel bad. I'm being 100% honest about it. I feel a little bit bad taking advantage of firefighter math.

It just sounds like he's ready, they're ready to get out of it. And sometimes Like people are like at a point of pain, a pain point where they're like, okay, I just need to—

so let's do this. Let's go, let's go pull yours up. I want to run this so that, so that the people can understand what the deal looks like. Pull up the, uh, the, the, the conversation you had with that. Let me, let me get the kids up real fast here.

Okay, hold on, go back.

I just In my brain, I gotta understand, it's kind of like when you're going through— have you ever been through like Ross or, or TJ Maxx and you see it? Like, I literally one time bought a pair of pants from TJ Maxx for a quarter, and I actually just bought them literally because they were only a quarter. Like, I don't think I ever wore them. I could have worn them as a Halloween outfit maybe because they were like these really weird golfer pants. And they were like plaid and crazy looking, like my grandpa would have worn. I bought them literally because they were cool. That's the only reason why. So that's what I need to find with this one. Ready? So let's dictate to it. Okay, so I'm trying to figure out the economics. I don't think it's going to catch my recording. It's not catching me.

I've seen it's not.

It'll catch you, but it ain't catching me. No. Okay, how can we get it catch me?

Here, Amor, hold on for just a second. I know how to do this. Okay, so I'm just gonna do a new one. Okay, uh, go ahead and talk.

What are we doing? Put this in. All right, I hope I can do it from here. More, let's unshare you. I'll jump over here real quick, that way I don't have to take your, your deal right there.

Um, it's in your email too. If you just click on the email I send you, it's, it, it'll, it has all the information, the conversation.

Yeah, is it, did you just now send it or from before?

I sent it from before. I can just resend it to you.

And then you can—

it'll just pick it up. Here is the one I did.

Morning, Michael. Is it Michael or Michael?

Michael.

Michael, good morning.

Amor, are you sending the chat link?

Yeah, yeah, I'm just sending you the link, the same chat link.

So then you put it in Zoom just to me.

Oh yes, the, the, the other email.

Yes. Okay. Or Abby. Catherine, sorry.

Catherine.

Oh, I'm not.

Okay.

All right. Sent it.

Perfect. Got it.

And then Alyssa did her survey, but it didn't come through on my end. So we're going to show you how to do that right now.

Okay. Ready? Ready to dictate?

Go ahead. And, and, and, uh, are you sharing the screen? No, share the screen. All right, hold on. So what we did was, um, show Elizabeth, I think, um, can you show her the email that was sent from Amor?

It wasn't an email, it was a Amor just shared a link, shared it in the chat, right? Yeah, she just shared the chat with me.

So we're not— so where's the Zoom chat real quick? So, Alissa, it says chatbot right there, that GPT. You see that? Where she got that, I'm gonna kill you real quick. Go back over to GPT now or share the screen if you're not Sorry, here. Okay, so up here, all the way up, all the way up. No, right there, I think. No, uh, what's that thing over there? The, the 199, copy, right? After that, see, it says open and get Up there. Is it up there?

Well, we haven't started talking, so there's nothing to share because that— this is the share button right there.

Okay, then let's, let's go back to, to the conversation that we're having. That's not the one. You got to reclick on the No, here it is. All right, now, now go ahead and take— I need to do the economics of the seller. The seller is selling it for $600,000. They currently have a $300,000 hard money loan that is due in August. They are willing to pay that loan off out of their own proceeds or out of their own bank account and then allow us to come in with $60,000 down payment and do a 5-year term with them on it for their balloon. So can you do the economics on this and tell me what the cash on cash is for this seller? And the only reason why I'm bringing this up again is because if they're going to lose money on doing it this way, they're going to become angry with us within the first year or two. And that's the last thing I want to do, is like take advantage of—

yeah, we only do win-win-win, right?

Because again, it's like, it doesn't make sense. And I, I don't necessarily feel like I need to point it out to them, but I need to make sure that I know in my heart when they get upset, it's going to be, here's why. Right? So it'll, it'll, it'll pan this out here a little bit because again, they've been paying interest only on that loan for 5 years or whatever they bought it, like 2021. So that's why it's coming due in August right now. So here's the economics of it. Sale price $600,000, buyer down payment $60,000, seller financed $540,000. They're paying off the $30,000 loan, which is then giving them a net at closing of $240,000. So interest rate at 60, amortization rate at 30, da da da, keep going down. So here's where we're at. So the monthly payment to the seller is going to be about $3,200. And then after the 5 years, they'll have a total of $194,000 with the 5-year balloon of $500,000. Is like, that's their balloon back, right? So because we're going to get some amortization on it. So, um, net seller receipts after 5 years is only $456,000. So now, so what that does is it gives them a cash on cash on net cash tied up of 16%. Okay, so the 6% Uh, is there true note yield? Then yeah, they'll have a 16%. So, um, says here, this is a strong argument for themselves. They get their hard money problem solved, they get monthly income, and they stay secured to the property, buy the property, and they have a large balloon coming in 5 years. So, okay, I feel better, like, knowing that they mathematically It doesn't look like they're getting screwed. So that's why I had to do that that way, because it is— it's a killer deal for us, really. It's especially if what they were making there is, um, go back up, it was 54,000 units right there. It's 54,000 units. So that right there is their monthly amount, right? That's how much you're going to get monthly or per year. Yeah, right. Oh, again, right there. Annual payment for seller, $38,850. Yeah, $38,850. And we're getting $54,000 a month—

a year.

Right, right. And then there's still—

we get the difference.

There's a lot of scalability at that place, right? Pretty good deal, Omar. Right, like it's sniffing, it's sniffing pretty good.

So good, good, good, right? Well, now, I mean, we do have to go down there and all that. How far is it?

Uh, it's about a 2.5-hour ride from us. Oh, um, more like 3.5 if Catherine's not driving. Goodbye.

Yeah, man, I'm wrong.

Everywhere he goes, there he is. Okay, okay, now I'm next.

So did you see how we did that? You'll go to your chat when your survey is, and then at the top right corner it says share. Share it and email that to me, and we'll learn it right now. Copy that one right there. No, the third one. Copy. Okay. And you did this before, right? Okay. I think what's— I think I know what's happening.

So for everybody who's watching, uh, he's— we've got a bunch of people who are actually live here with us at Club Scottsdale. And Alyssa did her investor survey for anybody who's interested in the investor survey. Um, definitely, um, let us know. Laura's also going to post it in the, um, comments or the chat so that if you wanted to do it, uh, again, it creates a, uh, very curated investor, um, profile based on your personality and what type of investments that make your heart sing. And then Uh, creates a 90-day and 120-day plan, so it's really awesome. Yeah, is here now. He had to go to work.

Okay, she said to click on that container real quick.

Right, so say it again.

Yeah, no worries.

Is that your— is that the— this is your survey test? Mine?

Yeah, well, we just opened it up again from here, and so—

okay, all right, so let's see if it does it over there.

No, thank you. So sweet of you.

Literally, is it in my email?

Yep, it's here.

Got it.

Why is it asking for that?

Because I'm not Yeah, I don't— oh, because you're not logged in like through the web browser, you're logged in through the—

it's okay, but it's here. Go all the way down to the bottom and back up a little bit. Back up more, more, more, more. A little bit more, a little bit more, a little bit more. Right there. The trademark. Go down. Right there. So from your land trademark line all the way down.

Am I copying this? Yes.

We're going to copy and paste it real quick. Copy from there down to right there. Back up, back up. Back up a little bit more. A little bit more. Come on down, down, bring it down. You're right, uh, there. And that's it. And then so grab that, right? Like, copy it.

Yep, got it.

Okay, now go back to my, uh, PPT, not up there. And in here go to the REI Virtual Board, REI Virtual Executive Board, right there, right there. You're going to go into Landberg Investor Profile up there, click that, and we're going to give it a pop real quick. These are the results from Alyssa from Rojas, and we want you to create a very robust presentation based on her results of the Land Shark Investor Survey. Review these results now. Just hit enter, I think, or no, the arrow button. Arrow button. And now you drop down and Do that and then send.

Okay, so for everybody else, what do we want to do?

Okay, so it is, uh, 2 minutes after, um, Wednesday. Wednesday must have been a long time ago. So, um, anyway, can you show us? I'm good. Um, who was that?

Uh, Michael.

Michael. Welcome. Come back and see us on Monday. It's, uh, it's 10 o'clock, um, and we're going to wrap up. So, and I appreciate everybody else coming in today. So I'm going to wrap it up with a prayer. Heavenly Father, we thank you for the blessing of this day, the blessing of this life. We ask that you continue to bless and guide us so that we always do your will. And, uh, bless those that need the blessings today, for if they've done us wrong, it is your— it is through your avenged stars. In your name we pray. Amen.

Okay, everybody have an amazing restful weekend. I look forward to coming back Monday, and we're gonna have some awesome stuff we're gonna dig into. I need a nap.

Are we doing it on the holiday? Because Monday is a—

oh, Monday's a holiday.

Monday, we're still dealing on Monday.

Okay, let's deal.

Work on holiday.

We can drink.

Wow. Okay, I don't know.

All right, yeah, you can't day drink if you don't start in the early— 9 o'clock here, right?

Have an amazing weekend, everyone.