From $320K Job Salary to Full-Time Real Estate

Judy left a $320-some-odd thousand job about 2 months ago to go full-time. So again, there's a lot of people in the community that have made the break, and all you do is pick their brain. I tried to— whoever got me running around or whatever, I tried to say it during what I've been saying. Behind that door, you guys on break, you can take a peek. That's our pinboard with— Nick, just give them a glimpse. They can look at it later. With where associates are by the color. That's their level all around the country. That's the— keep it updated through July. That's updated. So we're in about— Zach said 80 markets.

I don't see it. It's not on our screen for Zoom.

Oh, can you show them? Rick's slacking. He's supposed to be controlling the camera. Dana, thank you. Zoom in. We are on it.

There, get that.

Now it's only more.

I will update it.

July, Sue just updated it.

Okay.

So that's associates, and you guys can't see the color, but it's by level in some capacity. So I'll answer all those questions, Walter and others, later. Let's do Judy's deal. All right.

And it's wide open.

Yeah, looks like Judy, more reasonable.

Hey, how you guys doing?

Good, good. How are you?

Good.

Um, Judy, thanks for pivoting 3 times on the schedule.

Sorry about that.

Um, Judy, quick background of yourself, maybe. I don't know how you found your way, and then, um, what's going on?

Sure. Um, I found my way to the Wicked Smart community through Anderson Business Advisors. I'd been part of a different real estate investing group, um, and that used Anderson, and Zach did a presentation for Anderson, and it was right before the holidays, like towards the end of the year. So I just kind of inquired and then kind of went back and forth with Zach a little bit and ended up joining, and I'm probably about 2 and a half years in. I went to the— was it the summit? Yeah, summit is in the spring when they used to have that and ended up going out the first night with one of the guys that like kind of was signing me up. And that's where I met Rick Abbiati. And Rick and I spoke and I asked him a couple of questions and he told me a little bit about his journey. And then I said, is there anything that you wish you would have done differently? And that was he wished that he would have joined High 6 sooner. So after, while I was at the event, I ended up, you know, just kind of sitting and absorbing everything that was going on. And then I ended up going up to Chris and talking to him about High 6, and I ended up joining there. So I was like, No, maybe a month in at that point. And definitely, you know, a different track, more involved. And my goal was to get out of my W-2. But the part, part of the problem was the W-2. It was so time-consuming, traveling and working so many hours that I was struggling with doing it. And finally I said, you know what, I'm just going to pull the plug and do it so that I can focus on real estate. And I have only been Saturday was actually my big blowout retirement party where I had colleagues flying in all over the country, which was a lot of fun. So thank you. So that was— so I'm about 3 months into retirement and I ended up getting a lease purchase with a for sale by owner that was a lead from Landvoice and started talking to this woman and she liked the program. She liked how it worked. She researched me. We had some challenges with her attorney and she decided to ignore her attorney after talking. Um, so I was trying to get ahold of Steve Patti and he called me back. While he called me back, this potential—

Hold on one sec, Judy. Let me tell them who Steve Patti is, because this is important. He also saved the deal for Rick, your first deal. Yeah, it was Laura that did it. Okay. So Tim, you said later, earlier, can I give you the contact information? So Steve Patti is the attorney at First National, who's in 32 states. And he had to get on the phone, or his colleague, for Rick at the beginning, because it just adds credibility to the seller. They'll get right on and talk to the seller. And so that's who Steve Patti is. So you were talking to Steve and you passed your seller in?

Yeah, it just— so she happened to call me while I was on the phone with Steve, so I let her ring. And then I said to Steve, look, she's on the phone. Can— I mean, she's trying to call me. Can I just merge us in? I gave him a brief overview and he said, do Called her right back. She answered, and I told her I had the attorney on the line and would I— would she mind if I merged her in? And she said, no, this is perfect. So we did. And she said, okay, that's all I needed to know. She also looked up, uh, looked me up and saw that I had a good ranking with the Better Business Bureau. Um, so that was—

You know, takeaway, because it's good, Judy. So in your, uh, QLS course, it does tell you to do that. And if you haven't, you'd be shocked how many people go check if you did in the BBB. When will you know that? When you're in the BBB, you'll go, wow, look at all the people that have been checking. So get yourself in there and accredited, especially when you're brand, brand new, because you're leaning on that and you're leaning on Creative Financing Real Estate Association, right? So get that set up. Go ahead, Jodi. These are good nuggets.

Yeah. So it was really important to her. And it's also been important to— I'm starting to get some buyer calls now. We're going live today with the property. And I had put up signs and I got a call from the town, the code enforcement officer, saying that he picked up my signs. And I said, how many do you have? He says, 3 or 4. I said, okay, I got about 9 out there. So I said, you got— you still got 6. You still have 6 to get. Where are they? And I'll come pick them up when you have them all. And he laughed. He was a really nice guy. And he said, look, every town is different. I get it. We'll just— I said, I'll get them when I get out there, but it may not be for another week or two. He's like, that's okay, if I find them, I'll grab them for you. So I was like, okay. But I'm telling you, I've gotten, you know, probably like a dozen, and we weren't even live yet because the seller wasn't ready. So—

Okay, so Judy, if you get that many, so do some live coaching. The painful thing you can do— and we had a couple in our program, they were starters when we first did the associate program. They had a team that on Friday night at 5 o'clock, they would just— Jamie and Jeff.

Yeah.

They would put hundreds of signs out on Friday night and pick them up on Sunday.

Yeah.

I do.

You do too?

Friday afternoon, Sunday afternoon, come get them.

If you got that many buyer calls and you want to pay a kid to do that, that would be worth it.

Yeah. That's a good point.

Yeah. So that way it saves time.

Because yeah, I think, yeah, city workers don't work on weekends.

They don't work. They're not ever gonna work.

Okay.

Right, right.

All right, Judy, Judy, for the future, don't say that you have other sides out there. Let that slide. You don't have to— you don't have to say that.

Well, she has a good relationship with him now.

I didn't want him giving me a fine, uh, and thinking that I was trying to sneak around him. So I just want— exactly, was transparent.

Oh, I get it.

I didn't tell them where they were.

She made them work.

You didn't tell them where they were. All right, you go find them. I think it was teasing, like, oh, you didn't find some of them. All right, let's dive in, Judy. So for sale by owner, lease purchase, right?

Correct.

Okay. Um, how long was she on? Do you remember or do you know?

Uh, so probably from start to finish, about 2 months. And then even before she talked to Steve, Patty, she took her sign down because she knew she wanted to work with us. She had a for sale by owner sign like in her yard. And so she just took her stuff down because she's like, I don't even have time for this. How am I, how am I going to do this?

So she just needed validation.

Yes.

Okay.

So let's go with, um, how long did you lease purchase term for?

36 months with option for 2 6-month extensions with discussion with her.

Was this her primary?

Yes.

All right, you guys, just again, morally and ethically, if someone's in their primary and they're leaving, if they're going to maintain their capital gains exclusion, they would have had to live in that for 2 out of 5 years. So 36 months tends to be a standard term for when you're doing a lease purchase. Not everybody cares about it. Not everybody has profit anyway. So Judy built in a year extension by saying 2 6-month extensions, but she might want to have that discussion with that woman towards the end of that if it's going to go further. That's all. Does everybody get that? That one-time exclusion?

So with this exclusion, 2 out of the last 5 years?

Yeah.

And you look back.

Yep.

You have to live in the property for 2 out of the last 5 years.

If it's your primary and you're leaving, you have to be in it for 2 out of 5. So you got 3 years if they left.

Right.

By the way, how can you stop that clock? If Judy wanted to, and she should do this with this woman, she could turn that into a sub-2 at month 35 and a half because the bank doesn't care if there's a loan on it. The bank just cares if the deed transfers— not the bank, the IRS. If the deed transfers, it's a sale. You stop the clock. So again, there's always nuances, but I'm just throwing them out as I think of them. Judy, so 36 months, what are the numbers? Debt and equity?

Yep. So her debt is $145,502.

$145,502. Is this on— you guys seeing this okay? Yeah. Okay.

Her equity is $213,498.

And that totals $359,900.

I think.

Okay.

Oh no, $359,000.

Sorry.

It's okay.

Yeah.

So in lease purchase, you guys, you're not talking price. You're talking how much equity is she getting at the end? Why do we have a number? Because you gotta have a formula to say, okay, you wanted this. I'm gonna take out what you owe in debt, and I'm guaranteed this is what you're giving her in Section 13 of the lease purchase agreement. And the reason is the purchase price in the lease purchase agreement. You'll see this in the agreement. This is the only blank you have to get right in the agreement. Section 13, it says purchase price. Purchase price is never a number. Purchase price is the balance of the underlying liens, which is this at time of financing, at cash out, because it's going to be less than that, right? Plus blank cash. And she fills this in. Everybody with me there on a lease purchase, especially? Of course, no purchase price number. Go ahead.

Okay, so I see you're saying when you do the debt and equity, so you're adding both of those at any time. Do you consider the market value of what the house is? Is that also computed into this equation? Yeah.

Can I touch on that, Chris?

Yeah, I was gonna say, Judy, talk about what you did with this and how you came about it.

She wanted a higher price for the property, um, and I ran the— I ran comps, and I thought that she was a little on the high side. So she came down to $367,000, and it was still a little high. And I went on— I forget if it was on a High 6 call or the mastermind. But basically Nick said, just lock it up, the numbers work. So, uh, I did. And then I figured out we'd figure out what the numbers were, um, when we got to that point. So I locked— so I basically locked it up. And then now you'll see like what the numbers look like. But I— she knew I was a little uncomfortable with the price where she was at, so she came down to that $359,000 number.

Good job taking action. I didn't I didn't know you did that, Judy.

I did, Nick.

It's great.

Here's another reason to do what Nick said, you guys. This is so important. Don, who has since passed away sadly in Pennsylvania, would always on a lease purchase— not if you're going to buy it— on a lease purchase, just kind of like he'll get to the point of negotiation, just go, okay, just sign it up. Because can you always go back if it's contingent upon a buyer and renegotiate? He did it almost every deal. Like it was just kind of his MO.

So it's good. This is contingent on a buyer and I have 4 months to market it. Nice.

Yeah.

If we can't sell it in 4 months, then we goof, right?

Yeah.

Okay, let's do— you guys stop if you have questions on the way, as always. But let's do payday 1 post.

Oh, sorry.

For how much? You and Nick?

Yeah. So I— Nick went higher with the price than what I had because it was a lease purchase. So he said $399,900. So that's $40,900.

Oh, yes, we did. I'm sorry.

Yeah, way ahead of it, Nick.

I forgot.

So $40K we're planning on.

Yeah, $40K.

Judy's in Maine, you guys. In your market, $399,900, median, low, high, median, right?

I would say probably median to low. This is rural, so it's probably more median out in the rural markets. Not near Portland, though.

Yeah. So, because you guys, no one's asked this, but ideally you can make this work anywhere at any price, but ideally a little below and a little above median, kind of the sweet spot, which then that would be, you're going to have plenty of demand. You have demand a lot, no matter what. Who just was on the last, was it Annette? She put on the market like a weekend, like 400 inquiries. Rick's had hundreds and hundreds of inquiries. The market for this, to your earlier question, is far greater than the conventional market. All right, payday 2. Judy, you're gonna go on for how much?

$1,750 a month, and the PITI is $1,205. Sorry, how much?

$1,205?

$1,205 a month, uh, her payments.

PITI?

Yep.

Okay, you guys tracking on the underlying loan? That's the payment. Okay, she's gonna go on for $1,750. $500, $545.

Yeah, plus the taxes and stuff. If you take out that out of there, it's about $300 just, um, principal and, um, the taxes and the insurance.

Well, yeah, but you don't have to. You have enough buffer here, right?

We're just starting there. That's the pricing plan. Yeah.

Yeah. So, so, Judy, let's, for projection reasons, just go with what the spread is because you don't know yet if you're gonna have trouble doing this or not with Nick's guy involved.

Yeah.

So, so you want me to do it at the $545?

Yeah.

Okay.

For the monthly payment, and $1,750 is gonna be what they're going to market for. Didn't get it yet. Oh, what's the rent in that area? It's got to be that high. No.

Yeah. It's— the comps came in a little bit higher than that, but it's rural though, you know. But it's also for a home, not an apartment, not a rental.

Yeah.

So taking the $545 amount times 36 is $19,620.

Okay, $545 monthly spread times 36 months is how much?

Sorry.

$19,620.

$19,620 is payday 2.

Yeah.

Okay, guys with me?

Yep.

Okay, payday 1, payday 2.

All right, but what does exactly it go, uh, the payday 2, uh, from the 3 monthly payment, payment from buyer, or monthly cash flow?

Monthly cash flow is $1,750 minus $1,205. Okay, um, Payday 3, then markup, price premium.

So the price premium is, um, $49,900. Is it? Wait a minute. $399,900.

$360,000 to $400,000. $40,000.

$40,000. Yep. Okay. Yeah, that's what I had.

Okay. Okay. Uh, principal paydown.

So I basically had something that showed her principal was 28%. Um, and her interest was 72%, so I kind of did it based on that.

Oh, of the payment?

Of the total payment?

Yeah.

Okay, so how much is that? Uh, uh, $1,205 times what percent is how much principal?

So it's about $337 a month, um, is principal paydown times 36 months.

$12,132.

You guys all know the principal slightly goes up every month by a little bit, so we just always— whatever it is for today as far as what we show projection. Okay, minus the down payment of $40,000.

Yep. Right, so it's pretty much $12,132.

Yeah, yeah, for payday 3. What are these 3 paydays total right there that I circled?

So $40,000. What's $19,620?

$40,620.

No, I'm sorry. $71,752. Is that what somebody else got?

Yeah.

$72K.

Yep.

$72K. Okay. Pretty standard deal. Is the house in good shape, Judy? Nobody asked that.

Yeah, the house is actually in really good shape, which is surprising because a lot of what I've seen isn't.

Yeah. In some of the areas, to put it mildly.

Any questions on this deal, guys, that we're missing?

Fendi.

Seller conversations, anything?

We don't see the whole board. Can they zoom a little bit less?

Well, that's because Rick's slacking. No, you— I went way down, so it's hard for him to capture it. There.

One more. Yeah.

Thank you.

I had a question. You said that on the lease purchase form that we don't focus on price. Can you elaborate on that?

Yep.

We focus on— I'm talking about from the first conversation on with the seller. You focus on what they're going to get out of it. For equity.

Okay.

So you were expired, Tim. You didn't sell. Oh no, sorry, this is a FSBO. What did you think you were going to net after negotiations, inspections, and you paid your mortgage off? That's kind of the conversation we have with people on a lease purchase. When this cashes out, your payday 3, the closing's between your tenant buyer and the seller. So you don't talk price. Price. That's not even gonna be the price. The price that they're gonna close on is right here.

Price with my tenant buyer.

Yeah, tenant buyer's gonna close with the seller at at the price that Judy gives the tenant buyer. All the seller cares from day one, and she signs off on, is in section thirteen of the lease purchase agreement is she's getting her loan paid off at the time, which is less than this. It's actually twelve grand less than that in the three years, and she's getting her cash. That's all they care about.

The, the contract itself and the field that says purchase price.

You write balance of loans listed in Section 8, which this will be listed in Section 8 at the time of financing, plus blank cash. In this case, this guy, it's 2 blanks.

Yep.

That's all you got to do. Now, Judy, in this deal, because she's getting money, did you have her paying her own closing costs at the end? Because this came up yesterday with everybody.

Yes, I am.

Okay.

So someone asked yesterday who pays closing costs. Might've been you, Tim. She's getting $200 grand. So in this section, I don't know what section number it is, maybe 6. It says what the buyer's paying, what the seller's paying. And we write in, unless it's negotiated, standard buyer costs the buyer pays, standard seller costs the seller pays. So she's going to pay her own transfer tax out of this and, you know, recording and all that junk.

Yeah. She asked me if she was going to get any interest on her money, and I said confidently, no, you're not. Um, you're actually saving money by not having to pay commissions, so on and so forth, and you'll get, um, you know, capital gains benefit out of this. So that will be— that will be costing you a lot less. And I just said it with confidence, and she was like, okay, I just thought I'd ask.

It's true, because if she If it was newer, not Judy, but think of anyone, remember I said yesterday we tend to go into this big education about the answer. Nope, just answer it and move on. They don't know what's right or wrong, just answer it and move on. It's not what Judy said, it's how she said it. She happened to say the right thing too, but it's their confidence in saying it.

Walter? Yeah, I already got done the 3, payday 1, payday 2, payday 3.

Yeah.

But I'm still not sure on what to fill in for monthly payment and payment from buyer.

Payment from buyer is $1,750.

Okay.

Payoff to the underlying debt is $1,205.

Okay.

The lady's— the seller's not getting any monthly payment on her $213,000. She's waiting until the end.

So $1,205 for monthly payment.

$1,205 is Judy's payment and she's collecting $1,750 or whatever her next debt.

Okay. I got it now.

Thank you.

And Chris, she's happy because she's going to be able to have $1,205 a month less. And all carrying the property, all the utilities and all. She— her husband passed away, well, I don't know, 4 or 5 years ago. She's been carrying it and she's moving in with her boyfriend, so she's going to be saving that money also. So she's thrilled, you know, and she doesn't have to pay the taxes. You know, I told her that she needed to maintain insurance because it was still in her name, um, and stuff, but that we would take care of the rest. So she's like thrilled.

Isn't the insurance built into the payment though, right?

Yes. Yep. It's PITI right there. $1,205. That's all.

Yeah.

Jim, I get that the $1,205 is— is that covering her existing debt? So the amount of equity never gets paid down?

No. I could say I don't think I've had one instance where we did in all these purchases I've done.

So the seller The cash flow is— yeah, for the owner, they don't have any cash flow.

No, she wanted to get rid of running the property. Yeah.

Part of the reason why I said I encouraged Judy on the— it took me a little bit to like connect the dots. Part of the reason why I told Judy, just go, just go get it locked up, go get it tied up, is the numbers work being the taxes. Uh, the taxes are are actually higher here, right, Judy?

They're a little over $200 a month. So with taxes and insurance, that's about $300. So that would take it down to $905. Yeah.

So—

And Nick said, run, go do it, sign it up.

Yeah, it's really, really good numbers. There's a bunch of room there that we can see if we're able to get a spread.

Our average paydays, Nick, if you remember, payday 2 for us in this price range was like $308. She's at $500-something starting. So you have room.

Yeah, that's nice.

So seller wanted cash flow. How will we—

Judy would have to decide if she wants to give up any of her $545, maybe $100.

I have a question.

Maybe one. I don't think I've ever done it, but maybe somebody wanted to in the community. You do not have to, at least if they want money, maybe convert it to her own. Go ahead, Dana.

Well, if this— if we rented at $1,750 and the PITI is $1,205, it's really $905. For me, because the tenant buyer is going to be paying that, and the seller.

So these are going to try to tack it on.

Yeah.

Okay, got it. Yeah, you can play with that, but there's more room here, perhaps.

Yeah. So there's flexibility there because there still is a spread, but there's still some money out there, you know, like that could be potentially another $30,000.

Okay, so let's do this, you guys. Whoever does the mortgage calculator, who can A buyer comes in $399,900 and puts 10% down. What's their mortgage payment at 6.5% if they were going to buy today? Wait for somebody else. Can I get someone?

Is it 20% down?

10%.

10%. 90% financed on $399,900 at 6.5% on a 30-year mortgage. What is it?

$2,275.

$2,275. So Judy's pretty competitive. She can add taxes to that and get away with it if she wants, but you don't have to get greedy. Her and Nick can play with this. Then, then to her point, she just improved her cash flow by Whatever that number is, a lot.

And I just put it— Sue entered it into the system yesterday. The seller, I went over last week to take additional pictures because it was so messy. She had stuff everywhere. She was trying to pack up and get out. It was a struggle with the pictures. So I talked to her about decluttering and cleaning it up. She's like, look, I got to move this stuff out of here and get rid of some stuff. I'm committing to doing that. Can you just hold off till next week? So I said, yeah, sure, because I was away over the weekend anyways. Um, so I went, I sent everything to Sue yesterday on Prosperity and all of that. And then Sue said, don't forget, put it on Facebook Marketplace and Craigslist. And today I've gotten some hits from both of those.

Awesome.

Yeah.

Uh, let's talk about Prosperity real quickly. Up until about I don't know, it might be 4 years now-ish. We would do what we always did, which was Nick would post to Craigslist, post to RentLink, post to Zillow. We had to do it all ourselves, right? And then when the tenant buyer paid, we had them all going to the bank to pay. And then we paid our own mortgage, our bookkeeper. This was all in-house, but 70-something properties. One of our students came up and said, hey, my parents and I run like hundreds of units. Why don't you Automate this and put it all through this system, this this platform, Appfolio. Typically, you can't get in unless you have like fifty doors or higher. So for the small investor, it was tough to get in back then. So Prosperity now, we bought that partner out. We own it now. So Prosperity now, she just submitted to Prosperity. She told you Prosperity syndicates to I don't know thirty two different portals, Nick. It's a lot.

It's hundreds.

It's a market.

So.

I don't know what it costs. What's the Prosperity fee, Judy?

$75 and then $30 the first time. So it's like $105 for the first month.

And then $75 a month for that house.

They—

she pushes a button and pays that. Prosperity markets the daylights out of that house. Then when she gets her tenant buyer, Prosperity, the platform, the tenant— it's like an escrow service company. The tenant buyer goes on there. Pays their bill. Prosperity distributes the mortgage payment, distributes Judy's funds, and distributes SREC funds. It's all automated.

I think that's more important than the marketing.

The backend was—

can be backend and doing the accounting and everything. Yeah, I think that's—

and then guess what? If you have that 2 to 10% problem with the eviction, they— there's attorneys through Portfolio. So they handle it for a percentage, I think it's a third, and they send you the difference and that literally handles the whole thing. So we've, it's come a long way.

So Prosperity also charges $75 for handling all the monthly payments.

Everything.

For each property, per property.

Per property per month. Per property, Nick?

Thanks.

Okay.

Yeah, Sue, but I think it's per property per month.

Yeah, it is.

You yelled yes. Let me tell you something, cheaper than doing what we did for all those years. I can tell you that. And we give you reports.

Time flies when you're having fun. It was actually pre-COVID.

We started it?

We started our portfolio.

So, um, the property reports come too. Yeah, deal with all that. So, you know, your ledger, like a management company would do. It's like a management, but no boots on the ground.

So they can take the initial, like, you know, when you go to the buyer's meeting and people are putting down like a small deposit there. And then the full deposit later on, Prosperity can take care of all that.

We do the deposits they can from the ongoing.

We do—

when we, when the associates do it, the attorney disperses from closing and then everything else runs through Prosperity. Not sure where to get started? Go to smartrealestatecoach.com/getgoing for free books, strategy calls, and a whole bunch more. We're going to help you get going the wicked smart way. We've been after this for over a decade doing exactly that. But you can do it. Yeah. At the payday 1, the attorney who does that signing disperses. We have a funding request and the attorney will disburse to the student and us right from closing. And then the rest is input into Prosperity. Okay. Yeah. Like schedule payday 1s and 2s, all that 3s thing.

So it sets up the payment schedule for payday 2?

Yes, it should be 1s and 2s. Yep.

You take every month. Tim, just, just to be clear and for everyone, you, you're collecting the binder, the $1,000 binder.

Is that the buyer's meeting?

And then you're factoring that into, um, and giving the buyer credit for it if you accept them. If you don't accept them, it's 100% refundable.

Okay.

The site's very simple, you guys. I put at the top here, propsperity.io. We have people in that system that aren't even part of Smart Real Estate Coach. They just own rental properties, you know, so you can do that too. It's not just for Smart Real Estate Coach. It just happens to automate it for us all and make it easy. Property.io. But in your checklist, when you do a deal, uh, if you're an associate, it, it prompts you to do all these things. It'll hold your hand. Judy hits, uh, Facebook Marketplace and what else? Because it's not part of Craigslist.

Craigslist in my area.

Okay. All right. Uh, nice deal, Judy. Keep us posted, especially if you're going on now as we speak. Questions, any other questions for Judy that we missed?

Anything?

4 months marketing, was that hard to get? Or you just said that's what you need?

It wasn't hard to get. Um, you know, I, it was a VA lead and I did a follow-up call and she was interested, but you know, everybody's a little skeptical. Um, so she wanted to meet me in person. So I went out there and I said, okay, great chance for me to see the property, went out, met with her. And I think that she was first on, so she was kind of dragging her feet a little bit to give herself more time. And then I reached back out and she said, yeah, send me some of the info, told me she had her attorney. And I basically said what Chris always says to say is, look, a lot of these real estate attorneys have never dealt with this and have a tendency to screw things up when they're not familiar with it. Because of liability insurance, they don't want to be liable for it. So that's exactly what happened. Sent the documents. The attorney said it was a scam, and loan sharking is what she called us. And so, of course, once Steve got involved, he got a chuckle out of it and straightened it out. And she's like, "You know what? I really like you. I feel like we connect. You know, I can trust you. You know, I spoke with the attorney. Let's just do it." And then I was a little hesitant because it took almost a week that. before she was available again because she works at the post office, um, at a post office in New Hampshire. And I was like, oh God, is this like just stalling or what? But no, it ended up— I was— I thought maybe after Steve Patti she was going back to her attorney, but she didn't. It was— she was busy. And she—

That doesn't even make sense. Loan sharking?

Yeah, that's what we said.

We're like, how is it loan sharking?

That house I told you guys that we had a squatter in, his attorney, before he did that deal, I think he went through 3 or 4. This went over the course of a year and a half, and he finally just called me and said, Chris, I'm just gonna do it. He was so tired of the attorneys not understanding a simple owner financing deal, let alone a lease purchase.