AI Live - Land Shark Mastermind

Yes, I'm very, very excited. Um, of course Tommy asked the first thing I'm gonna do. I'm gonna go to Tim Hortons.

Really?

A coffee at Timmy's is the very first thing you're gonna do, huh?

A donut. Yeah, yeah.

Well, uh, how did the cohort thing work out?

Uh, it's gonna be on the 20th, 21st, and 22nd.

Got it, got it. Okay, so it's still ahead of us.

Yeah.

Yeah.

We got, we got 3 people signed up. We need a 4th one. So if you're interested, we can get you a link.

Yeah. I replied back a few weeks back to the email.

Oh, okay.

Just looking for some clarification. But yeah, something that I'd be interested in doing if it's a fit, because I know the alternative was to do it alone. My concern was whether or not it's just gonna be a webinar over the weekend, more of talk at you as opposed to do with you.

No, no, no, you got to actually come with a lunch and sign a waiver that you won't complain about how much work you have to do.

So over, overdeliver, in other words, eh?

Oh yeah, no, like we're gonna drown you. Like you have to come with a permission slip that you're going to be able to handle the water hose, right?

Yeah. So as I was touching upon with Catherine, here I am prospecting and my numbers are, you know, for every 20 calls I probably connect with 4, 5 people. So that's a, you know, 20, 25% hit rate.

Right.

Email's probably half of that. So I got a 10% connection rate or response rate with emails. And so, you know, I'm looking at everything omnichannel, every approach, trying to get people's attention and then try to provide service. So I'm in the brokerage business as well as the investment raising capital business. So It's tough to get people on one platform. At the same time, the younger generation's introducing new platforms, right? They only want to talk to me through WhatsApp or through Telegram, and I can't be everywhere at once. So I know that I've got to use this sort of omnichannel approach.

Right.

At the same time, things up here in Canada are probably a little more difficult than what they are in the US, although I think that you guys might be following suit. We're probably ahead of you guys. It's very difficult raising capital up this way. And so we tend to poach from people down there. But from what I understand, you know, the numbers look good and healthy in the States. But there is this K-shaped economy where those who have money are the ones that are taking advantage of everything that's under distress or troubled stuff. Right. And that's the same thing that's happening up here. The people that I approach to raise capital are either stuck in their current investments and they don't want to incur a loss by getting out of it and just jumping into a new property. So I have to kind of go to family offices, but that's also hard to nurture as well. So looking to speed up the process, as Catherine would say.

Yeah, collapse timelines.

You got it. And again, I think, I think from that standpoint, it's more of a one-on-one coaching because inside of what the cohort does is it provides you with a Rosetta Stone, basically giving you a brain inside of AI that can replace, replace the redundancy and, And mundane things that you perform as an operator, taking you out of the role more of operator and giving you virtual employees. Like, again, Deal Hunter takes the place of about 5,000 steps, not 5 employees, right?

Right.

So that's the big thing inside of that. The second thing is that comes with that ideal client avatar. And so, like you said, there's people that you're reaching on certain platforms. And I think you had mentioned one time before that, like, nobody or none of your clients are on Facebook. And to that, I beg to differ inside of like, if you have a— if you're not putting advertising out on Facebook, Instagram, TikTok, YouTube, and LinkedIn, you're not reaching. There's actually 3 other channels that you should be tapping into. But you're not reaching all your potential. Inside of like wanting to, to reach a specific client avatar though, like Catherine did inside of her $11 million raise in 3 weeks, that can't— that comes from doing specific things such as having the book launch, right? Like, that's mostly what Catherine gives credit to with that. But And that was actually a couple years ago. So today, it's more about having webinar events that are motivated and dictated to those specific people. Like, for example, we're currently hosting a collaborative webinar with a self-directed IRA/401 organization company that are going to be strategic partners with us. They can help our investors into our deals get You know, get access to capital that is otherwise locked up. You can see my 5 C's of capital over here. But the— and what this is, is the contracts. The contract that you have with an IRA or a 401 is what's leveraged to then use to take a loan. You're creating a contract with your IRA or your 401 to take money and take a loan and invest it into properties and projects. So we're having this webinar with them, a collaborative webinar, but they put forward the 10 grand to make that happen because we got to pay for the advertising, we got to pay for the marketing, and we got to pay for the setup of the webinar. And then what they take from that is anywhere between 40 and 400 people because our max is 400. Any more than that, we got to buy time, buy space from Zoom. And the cost just goes up too much. Have a second webinar, sign up for another day. It's just cheaper to do it that way.

So, but yeah, Tommy, to your point, I'm obviously missing something because I've tried social media consistently on a daily basis for over a year. The problem wasn't getting the reach out there. The problem was engagement and converting.

Right. So if you're not converting, ask yourself why. There's only 3 reasons: hook, content, and delivery. Because the offers, everybody's paying attention to the offer.

Yeah, I was probably just too busy posting, right? And not thinking about, okay, how do I get them offline? Or what is the mechanism? Or what is the funnel?

Well, I mean, I don't have to look at your advertising to tell you that what you're doing isn't what I would do because we're able to attract though, that level of, of people. And so, um, the webinar approach is what's working the best right now. Catherine did really well with a book. I've done exceptionally well inside of Facebook. And then I've got companies, uh, and partners, like I said, that we strategically work with inside of other things like Instagram and, and, and LinkedIn. And so it's not about, um, uh, spaghetti and see what sticks. It's about having a strategic game plan in each one of those social media platforms. So the, the— just so that there, there's clarity, the $2,500 cohort, um, is a, is a lifetime membership to the Land Shark Mastermind, um, and the, uh, uh, and it comes with the Rosetta Stone, the ideal client avatar, and the virtual executive board. And so inside of, for example, the virtual executive board, you can go in and put into that virtual executive board the people that you need that are good at what they do and, and, and, and, and good at what you don't do good, basically. And you, you pick the 4 to 7 people you want on your virtual board, and you can put on there some, some high-class marketing people and say, how do I market this to, you know, uh, uh, to, to my, uh, to my client ideal client avatar that you already built? And you're going to do it with the type of brain you have. So that's the value inside of the The cohort. But as far as an actual campaign to help you bring investors to your table, that's a completely different conversation.

Right now, I need to start at the fundamental, at the bottom of the pyramid, just put the foundation in place that I can build on, right?

Exactly.

So let me ask you this, as being a poor Canadian boy up here in Toronto with an exchange rate at $1.40, what can you do for me?

Well, I mean, the cohort is— the cohort is just— I don't know how to do the exchange rate or anything like that between what we have.

Every one of your dollars is about $1.40 out of my pocket.

Oh, $1.40 out of yours. Yeah.

After everybody takes their piece.

I don't know how that calculates. Catherine's the—

You just ask ChatGPT. You say how much does it give you?

Yes, Catherine's the Canadian expert on this.

Multiply your amount by 1.4. That's what I would be getting.

I just asked ChatGPT.

I'm like, here's what I could suggest. Go get another Canadian and you guys split it. We'll do that. We'll do it.

Like my wife, who is my business partner.

Yeah, absolutely.

It's still coming out of our pocket.

That'll work for me. We'll do the 2-for-1 on that.

Yeah.

But no, it's a 3-day cohort. We're doing it for 4 hours per day. And we will have one in November as well. That's going to be on the weekends where we're going to do 4 hours on a Saturday for 3 weeks in a row because we know some people have day jobs. So yeah.

And I just put the link in the chat there.

Perfect. Thank you, Catherine.

You're welcome.

So the property— I'm sorry, go ahead.

I was just going to say, just to add one more thing to what Tommy was saying, like, you know, raising capital is about right message, right time in front of the right person. And like literally, that's what all the Fortune 500 companies spend hundreds of millions of dollars doing and understanding. And to me, it was like, well, if I could figure that out, then okay. And that's how I built my Rosetta Stone was literally how the Fortune 500 companies are doing their, um, um, their research, marketing, all of that. And you know, well, You know the results I've had from it. And like every— you can go to my LinkedIn profile and look under recommendations. You can see what all the companies that I've done this with, what they've actually had to say about working with me and what it's done for their companies.

So yeah, LinkedIn is probably the best platform for me. When I go into these rooms with institutional people, these are, you know, huge landlords, developers, And family offices and the rest, they tell me that the only business they do with are the people that they know, right? Which means that they've trusted them because they've known them for a long, long time. And so LinkedIn is probably the one that has the best effect for me because going after the average retail investor, like I said, it's a lot of work. Yeah, it's, it's fallen on deaf ears because they don't have the money. And if they do, they've got to incur a loss out of some other deal that they're in. But yeah, certainly going to take a look at that. I was going to ask you to give me some advice on a piece of land in Grimsby, Ontario, and let's do the analysis on that if you want to do that. Or I'm happy to talk about the cohort more if you'd like.

Yeah, no, we'll definitely run that deal. I see Michael Butler's in here and I wanted to invite Mike to go to See, investor meeting today. When is that investor meeting? It's for, it's for, uh, um, yeah, let me— an organization we're working with called the American Business Network. They, they put together these luncheons at really high-end steakhouses and bring in, uh, bring in, um, capital raisers to pitch live to a room full of VCs and angels. And so they're trying to launch the chapter there in Philadelphia. And Catherine and I are working really hard with the owner of that organization to grow it to 50 chapters across the country. If you got a place that you can go and pitch, like, and we could probably even set something up in Mel's neighborhood too, because— Again, that, that cross-border investment opportunity stuff is important too.

Yeah, Mike, if you're available today, it's a lunch at Fleming's and it would be good to go for— the reason for you to go is to go and meet other investors.

Hey guys, what— thanks for thinking about me. I'm sorry, I can't get on camera.

My phone—

I'm on my phone. My camera's not working. Fleming's in King of Prussia or the one in Philly?

Yeah, I'm trying to find the details and I'm not— it's not on his website. Let me, let me find out right now from him.

Why don't you just— is it okay, Michael, if she connects you to my— to Edward? Of course. Yeah, of course. You can always go get free steak and meet Edward. He's an amazing guy. Super funny, super, super, uh, uh, sociable. Been in hospitality a while. So, yeah. Okay, great. No, thank you. And I'll keep you posted how it goes. Perfect, perfect. And then I'm going to, um, I'm going to, uh, play this video we came up with. I want to, uh, get some opinions on it. Um, and, uh, and then we're gonna roll into some deals, uh, running some deals and calling some people. So here we go. Um, crap, I need to put my, uh, share What did I do with it? There it is. Alright. Oh, I did it again. I keep forgetting to hit that button, Catherine.

Hit that button.

Share with sound.

I just realized, Mike, right now it's 20— it's 12 o'clock there right now, right?

Yes, I mean, yes, it starts at 12.

It started at 11:30.

It's almost over. I'm sorry.

Well, it's fine. Well, the next one, um, again, uh, we're, we're creating and expanding, helping them, and I really want you to get involved because again, I think it's a great place to go for you locally to meet more investors and, um, And again, it's all about connecting and capital raising and all the things.

So yeah. And they're not, they're not a, um, uh, they're not a, um, uh, real estate pitch club. It's, it's, uh, the last meeting we went to, they had a breathing device that they were pitching. It's a medical device they were pitching. And so, um, you know, it's across the board, the type of stuff they're raising capital for. So it's pretty amazing.

That's cool. That's good.

Great.

Thank you.

Happy to help him build the area here in Avis. So I'll keep you guys posted. Awesome.

I can help in any way.

Awesome. Well, I appreciate that. So I'm going to play this video. I see we got some, some familiar faces in here now, so I'm hoping they'll be able to see it and pay attention. So here we go.

Every real estate investor has a shark style. Let's count them down. Number 1. The Hammerhead Wholesaler. Chums the water, sells the dream, overpromises and undervalues. Contracts under his name, but he never takes title, rarely closes. Like a great white, built for big deals. $1 million and up, 40% margins minimum. Focused, patient, partner-driven. The biggest shark in the tank. Multi-million-dollar deals. Buys whole businesses, 100+ companies, a billion under management. Basically extinct old money. Number 4: The Broke Street Investor. Fake logos, deals under $100 grand, all talk and no capital. Number 5: The New Investor. Nurse Shark rookie in scrubs, notebook out, my first deal. Soaking up knowledge, one step at a time. Number 6: The Builder Shark. Tool belt, work vest, hammer in hand. Work, Build, invest, repeat. Number seven: The Tiger Shark Capital Raiser. Top floor, polished closing, capital relationships, strategy growth. So which one are you? Find your shark style at the Deal Hunter by Land Shark Deal Room. Get in the water.

That's so cute.

Very clever.

Looks great.

So cute.

Thank God for AI. Like, again, this is just AI stuff, but what we're actually doing is we're setting up— I don't know if you guys are familiar with the program called School. Um, it's a program set up by Alex Hormozi.

Yeah.

Um, and I, I've— I have found it to be a very, um, Interesting portal to work from. So we're— let me see, we're going to be actually launching a school, uh, several school programs, um, focused on a variety of things that, uh, that we know are going to be, uh, important. Like, here's our Opportunity Zone Schoolroom. This Opportunity Zone Schoolroom is set up, uh, to teach people about the incoming Opportunity Zone, uh, changes and regulations that are going to be going on. And so, and based on what I looked at, there's only one other, other organization on, on Skool that's doing that. So, um, when I looked at Skool for other things, like I think Catherine's focus on 7 streams of income, Is huge, um, and something that we're going to put a community together on for this and do, you know, uh, do, do a community for her 7 streams and to do a community for the Land Shark Mastermind. So, um, we're going to be converting over as well on— as many of you may know, um, oh, here's the cohort. Cohort is going to be— I'm going to be— I'd love it if anybody would be interested in sending this out for us, but we have our cohort for sign-up, uh, 20th, 21st, 22nd, uh, of October. Um, uh, it says limited to 4 participants. We got 1 seat left, but we are going to be hosting another one in November. So, and whoever signs up in for the one in November, we don't have a limit to those because they're going to be 3 Saturdays in a row to get that one done. But one of the, one of the big things that we're running into is if you go to like Deal Hunter by Landshark right now, you're going to see a warning that comes up. And it says, well, on our side, it says that we have to mitigate, migrate our GPTs over to plugins by December 11th, because they're getting rid of GPTs. So Deal Hunter is no longer going to be available as a GPT. It will be available as a plugin. We are converting it to a plugin, and we've already got the Land Shark Mastermind survey converted to a plugin already. Um, so, and we tested it and it worked. So we are going to ask a few people that have already done the survey to go do the plugin to test it and help us test it, and that would be awesome. So what you'll see coming up, in order to get to things like free estimates, you're going to have to go through free-estimates.io. And then you'll be able to get into try free estimates. When you click on try free estimates, it's going to open up in GPT and ask you to download the plugin and you'll be able to use it that way. Eventually, the GPT is going to run straight from the website. So you will no longer have to go to GPT. To use these tools. You're going to go to the websites to use these tools, and the tools are going to be used through the website, and they're going to operate using GPT in the background. So same thing with Landshark. Landshark is going to be called landshark-dealhunter.com. Currently, you go there, you can click on it, you can get to the GPT. But, uh, coming soon, when you click on that, it will go to a plugin And you'll just go, you'll be on the website. You won't be on, you won't be on GPT. Now that's the free side. If you actually pay for the upgrades, because Landshark, free estimates, all these are going to be now a free version and a paid version. And again, this is because of GPT, not me. The free version doesn't keep track of anything. It, it, it still does what we do normally, but it, it's not going to remember the deal you ran yesterday. It's not going to be able to keep track of it or anything. So the paid version will. And what we're going to do is actually when you sign up for the paid version, it gives you a private account inside of the Titan Impact Group, uh, family. And so for every one of these, like if you sign up for the Titan Impact Group Toolbox, you get all of them, you get all the plugins, and you get all the things that come with them, like the storage. That's the biggest thing is that you're going to be able to keep track of every deal you run, not just the ones we do on the show, but every deal. And you're going to be able to produce documents like at the highest level of security because we're paying for Titan Impact Group and Titan 23 because that has to be a secured server for us to manage our investments and our investors right there. We're not going to pay for a third party to do it when we can do it in-house. It saves money. It keeps, keeps the costs low, gives more to the investors. So we're setting it all up for that to work. So inside of the Titan 23 investor side, we will have it for Land Shark anyway. So Land Shark free estimates, all these will be subscription-based and set up to where you, I don't think you'll even need GPT. Like you won't need to pay for the GPT anymore. You just pay for the subscription to the tools. So anyway, um, the, uh, so that, that's kind of been what we've been working on. I went off on a tangent. So, um, Catherine was supposed to throw the anchor and reel me in about 4 minutes ago. Um, but anyway, the, uh—

You can't anchor a real shark in, right?

So anyway, over to free estimates. And to talk about that, you know, I'm going to do a quick deal on this because yesterday we went out, looked at a property. Catherine's got a property to run. Amor's in here but probably doesn't have a property to run because she's running, running a road somewhere. And I think she's frozen.

So yeah, she looks frozen.

Stuck in time right there. Priceless. And then we've got Tina, and Tina's probably got a deal somewhere in Iowa. That 6-unit deal we looked at yesterday is down there in the queue. We can pull that up and figure that out. Um, so, but yesterday we went out and we looked at a, um, a piece of property, um, and it, it needed, uh, it needed some septic tank work done out there. And so we looked at it to do some septic tank work on it. Got an email sent out and okay, cool. Um, when we went out there to actually physically look at the site, that became a whole different ball game. And so I'm going to pull up some pictures here so you can all see what it was like. And so let me see, can you guys see that pretty good? Let me zoom in more. So we got an abandoned car on site and a significant amount of debris across the back, back of the property. I'm going to go in 150 so you can see like this huge pile. These are everything you see white back there is an appliance— washer, dryer, refrigerator, um, and multiple, like not just one but many. This Dodge is hiding a huge pile of stuff behind it. There's all— there's a, like, it looks like a propane store over here to the side, and then just a stack of boulders that are ridiculously high. And, and those boulders probably came out of the ground when they, you know, when they actually first start built the house. This situation was, it was a burned-down house, and I'll expand it so you can see it.

Oh.

Here was the steps going into the house. House would have been right here. This was a mobile home. You can see in the back corner, that very far right back corner, is a pedestal right there. You can see a pedestal, and then there's— it looks like a bike shop in Scottsdale. From this tree all the way under, back in that back hole back there where a hobbit lives, okay, there's bicycles for days stacked up, ready to go, tires and everything. So, so let me get another angle. That one's not that good. I don't like that one. Let's do— what's this? Oh, that's the dark where the Hobbit lived. That would be where the dark spot was. And then this is the From the pedestal looking back and seeing— so yeah, that one's a good one. Let's move this one around so you can see it. Just, you know, washer, dryer, refrigerator, washer, dryer, refrigerator, dryer, refrigerator, tank, tank, more tanks buried in and around here. So, um, pretty good amount of garbage, trash, and, and, and stuff to pick up out there. So with that being said, um, I said it— I sent all these pictures over to Deal Hunter, or to, to Free Estimates. This is up close over by the boulder pile. I said, I need to know what it's going to cost me to clean this up. I, I needed to have it done in 2 days too. Like, I can't be out there all a long time. It's pretty far from town. You see, there's 1 there, 2, 3, 4, 5. There's a bucket of paint back there. There's a couple underneath here. This is like a shelving rack. So it's just a mess, needs to be cleaned up before they put a new house out there. And so I said, give me an estimate of what it's going to cost just based on the pictures. It's going to need about a 30 or 40-yard dumpster, and I got some rock boulder debris that I need to get off site. And I said, there's a lot of metal out there that can go on a trailer to a metal recycler that's down the road. So it takes all that information, plugs it in, shows me my cost. And so it says it's going to run, you know, uh, a good little bit of money, estimates it at about $11,225. So it tells me to go about $12,350. I said I'm going to go about $12,500. So I, I gave it the $12,500 price tag and I said, now put the thing together. And run it based on that. And I also need to take into consideration I got 4 guys and they're gonna need to stay in a hotel 3 nights. 2 days of work, 3 nights in a hotel, uh, and so I need that to be factored in here. So here we go. 4-man cleanup crew, $3,200 for the 2 days. That's 80 man-hours. Okay, um, uh, so 2 days of skid steer tractor rental, $900. Equipment delivery, all that, $300. The 40-yard dumpster gonna be $1,000. Excess weight, another $400. Rocks and boulders hauled off for $1,800. They may— I might be able to leave that off and just go stack the boulders in a different part of the yard, but at the end of the day, I'd need those boulders out of the way so that we can maneuver a new trailer in there and park a new trailer in there. Hotel Crew trailer, uh, travel, PPE, restricted material final disposal allowances such as like the propane and stuff like that, because I can't just go dump those in a landfill. I can take them out in the woods and shoot them, so I like doing that stuff. Um, contractor coordination overhead and contingencies comes out to about $12,500. So I can tell it Run this all together and send it over to my guy, or I can say, give me 3 options on how I can reduce the cost for this. Um, if I just concern myself with clearing everything away from the back so I can put the pro— put the project together, uh, which doesn't require a dumpster, but it will still require the man-hours and the equipment. The other one is to relocate the boulders as well, instead of getting rid of them for $1,800, getting another machine out there, um, for about $600 to relocate all the boulders to a different spot on the property, maybe to use them as decoration for a rock wall or something like that. But we can screen those through and, uh, continue. We also, uh, are curious to know that those boulders probably came out of the ground From the last time they built the septic tank before. If that's the case, the cost for doing the work out there is going to be closer to $25,000. And so I'm a contractor using my tools now, right? Normally I'd tell this to a secretary or my office manager, and we'd have this conversation and have her write it all up for me. But I don't need her to now. She just got to send it. Right. So I'm going to stop sharing this while it's cooking. Catherine, do you have a deal that you want to showcase real quick? And then I know Mel mentioned something. Tina mentioned something yesterday.

Yep. I've got the 2 deals. So let me share.

I think this is the one. We got Rachel's deal, uh, as well.

Okay, so this one is, um, East Hideaway Lane in Scottsdale.

Hideaway Lane?

Hideaway.

Hideaway. You got hide away. I don't think that Is it Hideaway?

That's how you spelled it.

No, I spelled it Hideaway. H-I-D-E-W-A-Y.

So it grabbed the wrong thing.

I don't know. We'll find out. It says it's the Summit at Summerleith. So that sounds about right. Current asking price, $10.5 million. Yeah, that's the right one.

This is the one. Okay.

Click on the Silverleaf Realty link right there. Click on that link.

This house is no longer available.

Okay.

Okay, so this is not a conventional cash flow acquisition. Long-term luxury hold rental. But only as a defensible exit. Rental yield is unlikely to justify a $10 million basis. Negotiated, I would not buy it for $10.5. Offer that market comps. So, I mean, Silverleaf, for those of you that don't know, is like Click on some of them so they can see the pictures. Yeah, they're— it's beautiful. Let's just say that. And they're not showing.

Oh, here we go. Okay.

Come on. Stop. It's not letting me go in. Let me see. Movado.

Try that one on Realtor.

Okay, so recently sold. So I mean, they're just— they're absolutely— it's a stunning, stunning neighborhood.

And they're mountainside too. So like, this one isn't even in the mountainside. It's just got good mountain views.

Gated, gorgeous outdoor living. Yeah, beautiful, beautiful homes.

So the address I sent you though, this— the one that I sent you the address on, that one actually is at the highest point of the, of the mountain.

Interesting.

And so that's what's giving it the $10 million price tag.

Got it. So, okay, so it says 2 acres. Um, this changes the deal, only assigned 2-acre. Okay, property characteristics acquisition. Okay, so stress test, funding strategy.

Uh, I wanted to see what it says for the funding strategies, is to go get jumbo private bank leverage, and they usually only do about 50%. So, and then you need like a securities-backed private bank to do the other 50, right? Because you got— what you would do is you would put your securities in their bank and they'd pay for your house, right? And as long as you're trading through there, you don't have to worry about that payment, right?

So they're making money off all your investment accounts.

Yeah. And if you look on my list right here of, you know, capital, which one do you think that is?

Your list of capital?

What? Well, behind me on my screen, I show the 5 C's.

Collateral.

That's it.

Or do a seller carry?

And then I heard yesterday something I want to bring up while we're looking at this. Something else I wanted to add is that there is a vacuum happening in the real estate market right now.

Mm-hmm.

Ryan Pineda, a lot of people know him as the guy that goes golfing, he gets a lot of money or whatever. He said he's going to quit wholesaling and quit fix and flipping. He's done. He's done with the retail residential marketplace. Right. Said it's fallen on its face, doesn't make money, blah blah blah. He's trashing it. Pace Morby did basically the same thing. He's getting—he's like, "I'm stupid for owning 260 doors residential homes." Okay. So, and then you got Grant Cardone selling everything. So literally, like people are chopping away and jumping into what we've been doing for years. Right. I actually sent Ryan Pineda a message. I sent Ryan Pineda a message. I'm like, I'll be your mentor, bro.

That's funny.

I don't go golfing though.

So do you want to see the other deal?

Yeah, which one? The one that was in Tucson?

Yeah.

Huh?

Yes.

No.

You don't want to see this one?

I don't want to go to Tucson.

Okay, okay. So somebody else can run their deal.

Somebody can run a deal, or I've got another one to run. So does anybody else have one? Tina, do you have one?

I just had— no, nothing other than the, the 2 that we were taking a look at. I'm still looking at the land one, contacting people on that.

Well, on that, on that 6-unit, did, did it, uh, did we finish looking at that, or—

I'm trying to think if there was Uh, there was follow-up as far as what I was waiting for from Darson. I think we agreed that what I pulled off of Landshark was the same thing that you pulled off of, right? Uh, and yeah, the outstanding question I think I had was, after all the potential, depending on the seller's terms, which we didn't know yet, uh, to know how profitable it would be, right?

Right.

Um, and so Darson never did respond. Maybe he didn't get my email. I can just follow up again with him, and I'd like to know. I don't know that I'm interested in it. I, I think the— it looks like there could be some deferred maintenance maybe eventually with roofs and windows and siding. So I haven't gone out. Maybe I'll swing by the property and actually take a look at it and see what kind of conditions it's in since I'm close.

There you go.

Uh, that's— so that's all I have. I do still have an interest in potentially what could happen with that property, uh, with all the land. And so you were asking me about the, the titling, I think. Entitlement. Entitlement. Yeah. So I needed to find out where that's sitting. And so I don't have anything new today other than that. Trying to finish up some taxes.

Nice. Nice. Yeah. Well, I pulled up the, the Other deal that I was looking at yesterday because they called and said that the— they had a back— I did not put a backup offer. I don't put backup offers because I want you to come and beg me to do an offer now. I'm sorry, I'm just a little bit like that. Um, this is not the deal. That's not the deal. We're in a deal. Um, crap. Here we go. Trying to find it. It was the commercial property that's basically right across the street from the multifamily. And so we were also looking at it. They're getting $20 a square foot triple net over there, which makes it about $80,000, $100,000 a year. Roughly speaking, like, um, when we were talking to the owner, uh, or what I told him was that he would need to do like between 30 and 40%, uh, um, down with, with 60 to 70% owner financing so that I could use that other 70% equity to go and get, uh, to go and get money to fix it up and clean it up and make it better. So I'm supposed to be hearing back from that guy later today about it. And see what we came up with. So, um, because it will need a special use permit, stuff like that. So definitely, um, um, definitely something we're going to pursue, um, and see if we can get in there. I also heard back from that business over there, uh, the entertainment business, we'll call it that. Um, they're willing to Do owner financing with $60,000 down and they'll turn over the keys. So that's, that's attractive based on the fact that, like you and I talked about yesterday, Catherine, like if we put $60,000 down in a year, not even a year, in 4 months with the changes we would make to staffing and operations, we would probably get it back up to $500K.

Mm-hmm.

So, and then I've got somebody who buys those businesses once they're cash flowing and operating good. But yeah, as soon as they hired the manager, it tanked. So that's a managerial thing.

It's crappy.

Correct. So, and then the other one to run here is this. I've got this one in Wickenburg. It's 100% occupied, but it's pretty bad condition. I think we looked at it before and we're waiting to get some T-12s on it, but the pictures were, it's rough. It's a little bit rough. Oh, I have lease and rent rolls right there. Interesting. I did not see these before. Okay, so download that one. There we go. So these units are old. These are block— like block, they're called slump block, block homes. There's no moving walls. You're not moving walls. And so these little houses like this, they're just—

Hey, Dad.

Built.

So Um, but what are you doing?

Rough shape a little bit. Um, Tina, you got your hand raised?

I'm muting her. She's got some background noise. Go ahead.

Okay. Um, so inside of that, we got like the, the P&Ls, but this is what this place looks like. I think we went into it, talked about it a little bit the other day. So deal hunters, deal hunters take on it was because I don't think we went back to it, but the contract prices that it's at a million seventy-five. So based on that, it gives it a pro forma cap at about eight eight point two six. But the twenty twenty-five. cap rate says that it's 6.0. So this is where the problem falls off, is that like there's, there's a significant amount of issue, um, on the fact that like it doesn't have enough cash flow and you can't really get it up where it needs to be beyond that. So it's not like these rents are at 30, 40% lower than market.

Right.

So they're probably at market. Yeah, they're at market. So basically they're $200 off. So $213, $214, $231. So it's not going to change your life on, on that $2,400 a month. You're looking at another $25,000 a year, maybe. After you take out inspect— expenses and stuff. So it's still not that great. So getting some sort of leverage here is really going to be the better part, the seller carry. So getting a big amount of seller carry from that. But the, the garage is not like— that needs to be just completely redone. So, but I would say that reaching out on this one wouldn't be a bad idea either, because it is a fix and flip a little bit, but, um, on the garage side. And we could probably get them to come down on the price quite a bit, or seller finance it quite a bit. Yeah. So I loaded the folder. Let me go ahead and get that cooking. I'm gonna just, um, Pull these out. Try that again. Open sesame. Holy crap.

Oh no.

Um, I'm gonna need you to sign me back on. Agent Opus, I think I just signed myself off.

Uh-oh.

So getting all those documents in here, I can tell it to review these documents, review these documents and adjust your understanding of everything. Oh wait, nope, this is not the one. This is ABN. I don't want that one. I want this one. Okay. Review these documents and adjust the, um, adjust for the, um, Information provided so that we can make sure that we get a, uh, a fair market offer, uh, based on the most, um, conservative model provided. We're not looking to lowball them, but I'm not looking to pay way over price. So, and so that'll cook right there and get that going. Back over on my cleanup estimate that I ran earlier, what it did was it went back through and kind of looked at three ways I could do this. So I thought it did. Didn't I ask it to do that?

I thought you did.

Yep, right there. Okay, so option 1, clear the, clear the rear work area only, is going to be about $8,200. That's what I figured. Clear the rear and relocate boulders on site, um, $8,800. And then to do all the work out there that I was thinking is going to be the $12,500. So Um, those are the 3 prices I'm going to give them. So go ahead and create an email for me to send out about this, um, to the owner of the property. Make it separate and tell them that it's separate from the current offer and contract with the septic company because we are doing the work Separately under a different contractor and set of insurance. Even though it's going to run through me as a general contractor, it's a separate contract completely because I'm using a completely different set of, uh, setup and, um, set of workers under a different, uh, under a different subcontractor. And so now it'll run all that together. Here's Tina's Iowa deal. So what we figured out on that one, Tina— I don't know if she's still in here or she got busy.

Still here. Nope, I'm here.

Okay, there we go. Uh, when we ran this yesterday with the rent roll that you get sent over Showed the actual sum of listed lines was about $21,000, uh, for the expenses. So that being said, corrected NOI based on that provides the NOI at $37,362. So with that being said, um, it brings a self-managed cap rate to 9.36. But it's not an 11.1. So if you get professional management in there, you know, you're going to have to take into consideration of that. That's where if you did a professionally managed versus self-managed, you're looking at a 7.8 cap. So debt service stress tests ran on it, showing everything like the owner carry, like we talked about, stuff like that. I would get the owner to carry 50%, not 75%.

50%? Okay.

Yeah. And then just because it's got to be based on the performance, right? Stabilizing it, getting everything set where it needs to be, then you can turn around and say, here you go, this is why, right? So, um, but I'll send this over to you right quick.

Okay.

In the chat, you can grab it and take it back with you and combine it to yours.

Okay.

And then again, when we go over to this new way that Landshark works and stuff, like, we won't have to be doing any of that. It'll already be there.

Oh.

That's one of the really cool parts about it too, is like, you'll just be able to go straight to that file. We'll be able to all work from, from each one.

Oh, nice. Okay. Wow, that's awesome.

So there we go. And so there you go, that's over there now, and you should be all set with that link. It is, uh, it is coming up on 10 o'clock. Um, yeah, I've got another appointment. Catherine's got an appointment today as well. Right at, uh, top of the hour. So I want to wrap it up and invite everyone to come back again tomorrow, um, to run a deal. Bring a deal, bring a, bring a phone number, or I mean an address, uh, bring a business, uh, bring an idea. Like, yeah, you need to find some property, we'll find you something, um, and we'll kind of go from there. So, um, Oh crap, where'd it go? Um, I had the— here it is. Um, I had it do the email for me, and you can see it does a great job putting it all together. So, um, I want it to, to show the 3 parts all together. So I want to pres— I want to present all 3 options. The $8,800, uh, the $8,200, then, uh, $8,800 is going to become $9,200, and then the $12,500 for the whole thing. So anyway, I'm gonna wrap it up with a prayer and, and, um, hope to see everybody back here tomorrow with a deal ready to go. And, uh, uh, oh wait, Mel, I gotta get— I gotta get a help reading stuff in the chat. Mel put in there for 3 Lake Street, Grimsby. Am I saying that right, Catherine?

Yeah, that's exactly right.

Grimsby, Ontario.

We can do it tomorrow if you'd like.

Real quick while you're here, how to do this over by you. Grab— go to, go to that Landshark, go to that Landshark, uh, um Landshark-dealhunter.com. Catherine, you want to post that in the chat?

Yeah.

Mel, you're going to go to this website Catherine's going to post. You're going to go to run a free deal and tap right there. It's going to bring you straight into a conversation where you can bring this address in and copy paste it, and you're going to tell it to do 3 little words right here. You're going to put that address, you're going to drop down to, and you're going to type in run this deal. Run this deal is the prompt that will provide you with 27 points of information about this property, and it's going to do it faster than it takes for us to pray and get off this call. So, um, I'm going to say, Heavenly Father, thank you for all the brilliance and amazing things that you put into this world for us to utilize to come together. As a, as a people. And so we ask that we're able to do this in the glory and, uh, greatness of your Son Jesus's name. Amen. Amen. Um, and I actually got to pray faster than ChatGPT is running this morning, so that's good. Um, Catherine, yeah, Catherine put that link in there, so go grab that link, put the, put the address in there, put just run this deal. And it's going to come back with a substantial amount of information, 27 different points of information. And I believe it will do just as well in Canada as it will here for the United States, because I ran a property with somebody in Ireland and had success as well there. So I was like, ah, pretty cool.

Hey, could I ask you, Tommy, could I upload documents from the data room for that particular property and it would probably—

Exactly, exactly as I did just a second ago with my documents. Okay, grab them, copy them, drop them, drag them, put them in there and say— and I tell it, tell it what you want, analyze these documents and tell them, tell me what they mean.

Okay, well, thank you both. Thank you, Catherine. Thank you, Tommy. And on behalf of all us Canadians up here, have a great Thanksgiving. It's Thanksgiving weekend for us.

I'm coming home.

How many, how many Thanksgivings do they have in Canada?

One. One. Like Americans.

Does it depend on where, what part of the Canada you're in?

No, just if you think of, if you think of like being north, the harvest would have happened sooner.

That's right.

Colder up there.

Right. We're having turkey just like you. Yep, except we don't have big football games and the whole celebration. It's probably bigger than Christmas down there.

Yeah, yeah, right. Yeah, so, well, it showed that that report came back, so I'm gonna— I'm, uh, I'm gonna say let's run this tomorrow, look at it tomorrow, and, uh, sounds good. We can validate and verify all the cool information it popped in with. So, um, because in a minute and 30 seconds it's still cooking.

I appreciate it. Yeah, looking forward to tomorrow.

All right, Mel.

Take care, everyone.

Everyone have a great day.

Thank you, everyone.