How To Find & Evaluate Off-Market Real Estate Deals | REIal Talk | Real Estate Investing | EP. 11

Foreign.

Hey, everybody. Flip and Danny here, co founders of the Freedom Real Estate Group family of company.

And this is the Real Talk podcast that we've started recently. And it's Real talk for real estate investors. And we are actually in double digits now. We just recorded episode 10, which was our first double digit, and now we are number 11.

Episode 11. This one goes to 11. Been waiting to see that for, well, 10 podcasts.

That's funny.

This one goes to 11.

So for those of you who are joining us for these, thank you for joining us for these because we're having fun recording them. And today we're going to be talking about how to find and evaluate off market deals. And so if you are fairly new to who we are and what we do, then you don't know that Flip is our director of acquisitions. So yes, you are and have been for a very, very long time. Which means essentially that he's in charge of buying all of our deals. The pressure that that puts on him is quite immense. And I'll say that in two different ways. One is he and I have a push and pull relationship that we talked about. I think it was episode eight or nine where we were talking about private money and how if I have a lot of private money, then I'm going, flip some more deals. And if he's got a lot of.

Deals and I'm going, I need more money, more money.

And so we go back and forth all the time. The real pressure though is that the bigger that we've gotten, it's kind of like a pipeline, right? It's going to enter through Cash for Ohio Houses, which is where we're buying our properties. Then it's going to go to rehab through Bulldog Renovations. Then it's going to go to Freedom Real Estate Group, who's going to sell the property. Whether it's a retail flip or a turnkey flip or whatever it might end up being, if it was a turnkey flip, it's going to property management, which is Independence Property Management. If it was a retail deal, it goes Independence Realty Group. Right. So there's this pipeline that essentially that's a whole lot of companies that is relying on this one. At the very start, the Cash for Ohio Houses, if we don't buy enough houses, then we don't rehab enough deals. We don't sell enough deals. The property management company isn't managing enough deals to maintain an overhead of this constantly growing staff that we have. So the pressure on you is immense. And I literally know that we've been on Vacation. And we've said, we're not going out. We're not going to dinner. We're not jokingly not sleeping because we need deals.

Yeah.

And I was. I will honestly say I've never been the one out there searching for them. I always put it on you. I did other work while you were doing your work in order to find more deals, and you always came through. Every. Every single time we needed something, you were like, got it. I. I've got these deals, and they might not have been like, if we wanted a $20,000 margin, it might have been 15. You're like, screw it. I got a deal. Now we got something in the donut. That's $15,000. You got to do what you got to do. So that weight on your shoulders over all these years has been immense. And I don't think I've ever said I appreciate you for the weight that you carried. I always say I appreciate you.

Right.

I always say, I love you. But I've never specifically said. Because you've carried this company to where we are today, because without all those deals, we wouldn't even be here.

And I do one company, and she does 6, 15 or something like that.

But you really have been the head of Cash for Ohio Houses for a very long time, and I appreciate you and thank you for helping us get where we are today. So what we're gonna do today is I'm gonna interview you. Remember how the private money podcast was all about you interviewing me? We're gonna flip the table, sir, so that I can ask you some. Pun intended, Ask you some questions. All right, so first question I have is find deals.

Well, there's a number of ways, actually, on how we could find deals. For a long time, I was the only one here doing all the buying. And so I just had a huge list of wholesalers, and I would constantly reach out to wholesalers, and that was enough to fill the pipeline. That was when all of a sudden, all the wholesalers didn't have any deals, and we were going, I need more deals, and nobody's got any deals. And so that's when Cash for Ohio Houses, that was created. And so that's when we brought in more people, and we really started just pumping up the machine as far as our lead machine goes. And so we now do. We buy lists. We do searches for sale by owners. We do searches on Craigslist and Zillow on properties that are not on the mls. We actually do searches on the mls now we bought a number of properties off of the mls. Even in this hot market, we've still found a few on. On mls.

I mean. No, we haven't. Nobody else looked there. Just kidding.

Haha.

I'm talking about a different mls. It's something completely different. You don't have it. And we've done, we've done direct mail, we've done. Gosh. Well, like I said, wholesalers. We also do websites like Z Buyer and Compass Data are places where they'll, they'll send us leads. Facebook marketing. We've. So it's a long list. Bandit signs, bird dogs. We've closed a number of deals this year just from bird dogs. And so those are the ones off the top of my head. That was just like 15, right?

Yeah.

So we've got a steady flow of.

Leads coming in and I think that's probably a gold nugget there. Is that. We're not just doing direct mail, we're not just doing Facebook advertising. We're not just doing MLS searches. We're doing a combination of things. Because at any given time, when you look at our KVI's, well, this one's performing really well and this one's sucking. But then it flips and it's, it's something different. So it's not always consistent as to which lead source is the one generating what we're converting.

Oh, it fluctuates too. Yeah, absolutely.

Yeah, absolutely. So I'm glad that we have that many streams and I think that's a lesson for. Depending on who, who is listening to this. If you are somebody who's trying to find deals, having more avenues than just one, at least has been a win for us.

Absolutely.

Okay. All right, question number two. Flip is how do you evaluate deals?

Okay. And actually before we go on to the how to evaluate deals, you just touched on something. If you're just starting out and you don't have the means to buy lists and to, you know, do the free sources. Look for, you know, Zillow, Craigslist. Look for the free sources. I mean, when Danny and I first started out, we printed on colored paper and went out and papered neighborhoods. We want to buy houses in this neighborhood. Let us know if you're interested in selling, you know, because all that cost was, was a ream of paper and then our time, because that's what we had time.

Yes.

So think, try to find all the, all the ways to do it on a shoestring budget, but driving for dollars, that's, you know, granted you have to have a car and gas, but most people have that. So just go driving for dollars and find properties that way. Because a lot of people don't do that.

Yeah.

And if you don't know what driving for dollars is, do you want to briefly describe it or just tell them to Google it?

Yeah.

No, no. Driving around neighborhoods where you want to buy a property or neighborhoods that you like to buy properties. And look for the signs, look for the tall grass. Look for. You can see straight through the house. You know, the mailbox is full. There's newspapers in the driveway. We're in Ohio. So during the, during the winter, it's awesome. There's no tire tracks in the driveway.

Yeah.

You know, so there's, there's a lot of different ways, but those, those are the major ones. And then, then you, then you need trace them to find out who the owner is and track down the owner, call the owner, say, hey, I'm interested in buying the property at such and such place. You know, so it's, it's. That's also another great way we did. We did so many deals just by driving for dollars. That was one of the main strategies we did. And so it's another great way to do it without buying lists and going through all those. That. All those avenues.

Yeah.

And so you said one more word that depending on who they are, they might not understand what it is. And it's skip tracing.

Skip tracing. Yeah, sorry. So skip tracing. So when you find a house. Oh, look, I want to buy this house on 1, 2, 3 Main Street. It's got tall grass, there's newspapers all over the driveway. Well, then you go to tax records, you go to tax auditor to find out who owns the property. Once you find out who owns the property, then you want to find out, well, how do I get a hold of this person? And so there's websites out there. Whitepages.com, i think, is one that we used many years ago.

True people search. Maybe. Might be.

I think True people search.

Yeah. I was trying to think of the ones that we've used in the past.

I can't remember them off the top of my head, but, you know, trying to find the phone number, a lot of times you'll find like eight phone numbers for this person. Call them all, you know, because sometimes all eight don't work. But, you know, they call them all. And then if you can't get a hold of them by phone, write them a letter. I mean, mail them a letter. You know, it might end up in the mailbox that's full of mail, but that it Might actually get to them. You know, so it's just try multiple ways of getting a hold of that seller to find out if they want to sell.

Yeah.

And sometimes when you look up on the county auditor, you're noticing that there's the address and then the owner has a separate address.

Mailing address. Yep, yep. Because there's a, usually a property address and then a mailing address.

Yeah.

And here in Ohio, nine times out of ten, the mailing address is Florida. Somewhere in Florida. So. But getting a hold of them that way.

Yeah.

Okay. Okay, great. All right, so now we're really going to get to question two. Ready?

Okay.

I'm going to say it again. Just we can remind everybody what it was.

Go.

And you. What it was.

Yeah, yeah.

How do you evaluate deals?

So the first thing, once we get a property in, that's when we get all the specifics. We, you know, get the beds, bath, square footage, when it was built, what the lot size is. Is it in a flood zone? We don't buy. We don't, we don't buy properties that are in flood zones. That's a company policy then. That's just our company policy. You can go ahead and buy properties in flood zones. We just don't. And then, so those, those are the main things. Then we, at that point now we want to run cops. We do the comparables. Look for properties that are within a half mile or a quarter mile that are 20% above and below the square footage of the property and close to the year built, typically in the same neighborhood. And we try to get three, a minimum of three comps to be able to determine what we think is the after repair value, the ARV of the property. Once we determine that, we actually have a performer that's been built over the last three and a half, four years. And we just punch in all those numbers and then it tells us what our MAO is, which is our maximum allowable offer. And there's so many variables. You know, if it's vacant, if it has a tenant, if the owner lives there. There's so many different variables on what our MAO is. So it's, and it's too, too much to get into it right now because of all the variables. But the performa tells us, okay, this property is worth 100. And we always estimate that every property needs $25,000 in rehab. Even if they say everything's brand new, it still needs 25,000 do and rehab. And so the performant will tell us exactly what the number is. That's our mao. And so we need to be at that number or below it when we negotiate with the seller.

Okay. And so when do you send out somebody to physically put eyes on the property and verify the numbers that you're estimating might be the rehab?

So if it's with a. Just if it's with a seller and they were in the ballpark, you know, listen, I think we're going to be around the 40 to 50 range, but we need to get our project manager out to walk the property. We'll still. Sometimes we'll get the number nailed down and get it. Because inside of our contract, we do have an inspection period for our project manager to go out and walk the property to see if we need to renegotiate or if we're going forward with the contract.

Right.

Or if we're having to cancel the contract because the rehab is too expensive and we just don't even want to try it.

Yep.

So that's with it. If it's just with a seller. If it's with another agent on mls, we do have an inspection period. Again, we try to get it under contract as best as we can, but if we can't, then we try to get the project manager out there ASAP so that we can get it under contract.

Got it.

And then. But with wholesalers, there's never an inspection period with wholesalers. So again, it's the same instance. We try to get our project manager out there right away. But I also want to make sure the wholesaler is not going to say, oh, no, I'm sorry, I can't do that. Number. Yeah, I try to make sure it's a solid of a deal so I'm not wasting the project manager's time.

Yep.

Love that. Okay, great. All right, so let's say you evaluate a deal. You like it? The numbers seem to work. So you've now sent out the project manager to double check. Right. And set eyes on the property. So project manager gives you a number. It's still in the ballpark. Or let's just give you two examples. It is in the ballpark versus not in the ballpark, what happens next.

Okay, so if it isn't in the ballpark, we've had a deal where they. They wanted 45. They couldn't go below 45. They need 45. We said, you know what? We're at like 37. It's close. Okay. And that's based upon our $25,000 in rehab. So we send out our project manager. It comes back, it's way worse. Now we're at 32, they're at 45, we're at 32. That's when we go back and we say the rehab is too extensive. In order for us to go forward, we're going to need to renegotiate this. And the best we can do is $32,000. And then we always emphasize at that point, right away, we'll pay all cash. We can close in the next 10 days, barring there's no title issues. But, you know, you can take the cash and walk away.

And for many sellers, that's the pain point, right?

It is.

It really is. And we've had people drop from 45 down to 32 just so they get rid of it.

Yeah.

But then there's also times where they can't. Maybe they owe 44 and a half and that's why they need 45 and the best. We're at 32. And that's when we say, well, we're really sorry because not all deals work.

Yep.

They all, they all don't cross the finish line. And no matter how hard we try to make them work, they all don't work.

Yeah.

So it's a great thing about being an investor. Right. Because you're looking at the numbers.

Yeah. It's not, it's not emotional.

Yeah.

It's completely non emotional. And I always thought it's, it's just the numbers. Yeah, I said it's not, it's nothing else. It's just numbers. And this is what I have a calculation and it tells me what I can do and I can't go anywhere around that number.

Yeah.

So that's the number. And so sometimes we have, we have had to walk away from deals. Now if it is a deal that works, then we make sure that we get the contract signed. Once we get the contract signed, then we send that off to our transaction coordinator and, and our marketing coordinator. And those two. Then they take it in two different directions. Yes. Transaction coordinated coordinator then make sure that we have the private money lined up so that way we can close in the next seven to 10 days, depending on title issues. And then she also makes sure that the title company has all of the information so that they can run title and get everything set up and make sure that closing happens. And then the title company contacts the seller to coordinate their part of the closing. And so. And then we move on. And. Well, because once we actually hand it off to the transaction coordinator and the marketing coordinator, that's where we stop and we go back to another deal that's the end of our job.

Yeah.

Okay, good. Let me check off that one. All right, Question number four. You like this? You're in the hot seat.

Yeah.

What causes deals to fall through?

A lot of them. Sometimes it's, oh, I didn't know I had that mortgage still.

Right.

We've heard that state liens, title issues. We've had one property that had. It was a property we were buying for $30,000. It's worth maybe 80, that had $250,000 of medical liens. So that deal did not go through. Yeah, we've had issues that we had an issue with here in Ohio. If some. Somebody is married and they own, while the other person, the husband and the wife have to both sign. And she didn't know where the husband was. Like, he was in another state somewhere. And she doesn't know. She doesn't care because he was dead beaten. So, wow. I'm just like, okay, well, you can't sell your house. I'm sorry.

Yeah.

And so those are the ones off the top of my head. But a lot of the times, most of the times, it's liens that they either didn't know about or that they are tax liens or they haven't paid taxes since, you know, the Carter administration. You know, so whatever the reason, it's. There's. There's a. Those are the biggest ones.

Yeah.

And I know of one that I think fell through because it was somebody that inherited the house, not realizing that they had to go through probate. Right. There's different situations whether you need to do that or not. And so that was.

And on. That's. On that. That's a deal that. That did not. Those deals did not go through. Well, we had a deal that was passed down to the children, and it was the two daughters and the two sons. And immediately, okay, now I gotta get four people to sign this. I'm just like, this isn't. This isn't gonna happen. And then we found out from the transaction coordinator that the two daughters and the one son signed right away, but the fourth son is. They think he's in Washington, D.C. he's homeless, doesn't have a phone or a computer.

Wow.

And so then I'm like, okay, this deal's now dead. Then the next week we found out that he's homeless, but he's military. And now the VA is helping us work this out. And I'm like, okay, the VA is not fast, so this isn't gonna happen. Two weeks later, the VA found him again, and he Signed all the documents.

Oh, my goodness.

Of all deals, I expected this one to just completely collapse.

Wow.

And we still got that one. That one still made it through. Couldn't believe it.

Wow.

That's a story I haven't heard. All right, okay, I'm gonna go to question number five. Have you ever bought a deal and judged it wrong? Meaning it could have been an appraisal issue, could have been a rehab budget issue.

You know, we've had both.

Anything you want to share?

Yeah, we've had both. Where we actually had one property where we. The rehab came back, and it was like $30,000. And we're like, yes. And then we got into doing the rehab and come to find out that one of the walls in the basement was Boeing. And so we had structural issues, and we had to redo that entire wal. And it more than doubled the rehab amount of that property. So that one was bad. We've also had a property where we ran comps on the property within that quarter mile, but the appraiser didn't go in that direction, and he stayed right around the neighborhood. Even though our house was the biggest in the neighborhood, which tells you don't buy the biggest house. The. It was the biggest house in the neighborhood. And so we still stayed within that small parameter, but the houses we had were in the next neighborhood over, and our appraiser would not look in that neighborhood. And that we lost. I think it was close to 35,000 on that one as well. But we didn't. Well, we didn't lose it. We just didn't get it.

Yes. Yeah, that's a good clarification, because our CFO Randy, always says, you know, change your language on this, because you didn't lose that money that was actual profit that you were going to receive that you did not receive.

Yeah.

So it.

Right, right.

We did that deal for free.

Yeah, essentially. Yep. Exactly. Exactly. I think we bought a pizza.

That's funny. Okay, so my last question here is going to be, have you ever bought a deal and hit a home run maybe annoyingly, at the time that you bought it?

Well, because we buy and rehab and sell so quickly, it doesn't normally happen because, you know, it's. Well, we had the one that went down in value, but we've never had one where the appraiser said, oh, look, here's some money. Yeah, that's not happened. But we did have one property that we got it under contract, and it took us eight months to close the A to B side because of liens and oh, that's right. The husband was in jail, and so we had to get. We had to go to the jail in another part of Ohio to get the signature, and he wouldn't sign. So then the wife said, well, fine, I'll just divorce him. So then we had to wait for the divorce to go through. Then she sold it to us. So that took eight months. And then when we started doing the property, then we had issues with the property, with permits, and with something else with the property. So it took us another, I swear, another six to eight months to finish the property. So by the time we were getting ready to sell the property, the property went up because we reran the comparables and went up $40,000. So yay. But we don't like waiting a year and a half to close the deal.

Yes. Yeah.

And recently, because of the market, we have a new process we put in place. Right. You want to describe that process and how we discovered we needed to put that process in place.

So skew me a little better.

Yeah.

So this is regarding the one retail. So there was a deal that we were going to sell turnkey, and for whatever reason, you guys reran comps and said, we can make it another four, make another like $40,000 if we just sell this retail instead. Because the market was so crazy. And suddenly we went, okay, how did that happen? How did we not re evaluate that at the very beginning? And it turned out it was occupied. Right. And so we just never had a practice of rerunning comps after a tenant had left. And this market has just taken a shift.

Yeah, the market is so high right now that we. When we bought the property, there was a tenant in there, and they said the tenant was on month to month. And but we then we found out that the owner said. Told the tenant that he didn't have to move. And so we had a little bit of issue going back and forth. So by the time the tenant was out, it was a good another three or four months after we had closed on the property. And this is in a really hot section of Dayton because. Yes, there's hot sections of Dayton. And so it was. It was a very good area. And so that's why I went to rerun comps. And so when I reran comps enough had sold just in the last, like two to three weeks that had just skyrocketed the values in that neighborhood. And now it's like, well, let's not do that turnkey. Let's do this one retail.

Yes.

Let's make sure we're not leaving money on the table.

Yeah, Right.

And so that became a. Let's create some workflows anytime it's occupied for X number of months. Let's rerun comps before we allow the rehab team to do a scope based on our original strategy. Because maybe our strategy changes.

Yeah, exactly.

Yeah.

So now we run comps before we buy the property, and then we run comps again before we rehab the property just to make sure we're still going in the right direction.

Yes.

I love that, by the way. And it's really a neat problem to have that we're in such a good market.

Yeah.

But it's a lesson for even different markets if things start, you know, going back, tanking to normal. Right. And in Ohio, like, the swing, we're not Arizona and Florida, where we're just going, wah. I mean, a 40,000, you know, lift was like, that's huge.

For a while. I don't know.

Like, I'm like, whoa, where are we? But. But I think the same is true, is if things start cooling off, that we reevaluate and we take a look at them. But when we're also buying better because, you know, the market is unknown, I don't think that anybody's fearful about what's going to happen over the next two to three years. But because it's an unknown, you just. You get a little bit more conservative, naturally, because you want to protect the companies, the investors and everybody else. So I love that. I wrote down one more question because I realized what we didn't do is at the very beginning, say, what type of deals are you looking for? Like, what's your ideal avatar of a property? And I know that you'll look at everything because we're actually buying a possible Airbnb in Cincinnati. Right. And we never would have thought of that, but we're like, that's a great area. This is a great strategy. We're gonna make some good money on it. And Airbnb's are really hot right now because we're coming out of a Covid environment and people like, yes.

Yeah.

People are wanting to travel, they're wanting to have their own, you know, spaces. So we decided to do it. So I know that you look at everything, but Airbnbs are not our niche. It's not what we do. We're just going to do it, and we're going to buy it personally. Right. For us. But we do retail flips probably, what, 10% of the time, and then maybe turnkey flips are the other 90%.

Yep.

Okay, so if you were going to say there's an avatar for turnkey and an avatar for retail, what would it be?

Well, before I get into the avatars. Okay, yes, I do look at everything and when I look at a property, I don't look for yeses, I look for no's.

Okay.

Because that's interesting. Because I want, because there's so many times, you know, I want to evaluate the deal so that way I know we're not going to buy it because there's so many different yeses. Could it be retail? Could it be turnkey? Could it be, you know.

Yes.

And so, but it's, it's. You need to give me a no. So like Montgomery county here in Ohio. Well, until last month they had a nuisance list. So if it was on the nuisance list. No, out, done. I don't even need to look at it.

Yeah.

Is it in a flood zone? Yes. No. Out, done. I don't even need to look at it.

Yeah.

And so then once it gets past.

Those, that's a really great strategy by the way.

Thank you.

Another gold nugget.

Thank you.

Hey, I'm learning a lot from you on these podcasts.

Thank you very much. I'm not just arm candy here. Come on. So anyway, so the other thing that once I get through those two ways, like the nuisance list and the flood zone, once I get through those, then I'm Okay. How many square foot is it? We typically don't buy houses under, under 800 square foot. So if it's under 800 square foot. No, you know, we, unless it's something we can make work. And you know, if it's a one bedroom, 550 square foot house. No, we don't do those.

Right.

And so then that's when we. But see, there's so many different. It's a 2:1, but it's 850 square feet. But it's in a really nice area. Okay, let's do it.

It.

So I don't ever want to say I don't want to do two bedroom houses.

Yeah.

But if it's a two bedroom, one bath house, that's $25,000 ARV. And not not so great part of town. I don't want to do it.

Yeah.

You know, so that's when I start to do the, the, the 3,000 foot above, above the ground. You know, that's, I get closer and closer because it might be a three bedroom, one bath, 1200 square foot house, which are all yeses. For me. But the neighborhood, when you look on the Google maps, because most of our investors are from out of state, you know. And so what do they do? They do Google street view and they drive up and down the street.

Yeah, for sure.

Well, if they drive up and down the street and there's one house that's torn down, there's one house that's half standing, there's one house that's all boarded up, there's one house that has graffiti all over it, we're probably not going to buy in that neighborhood.

Yep.

So it's every little step I keep going down and I keep getting closer and closer down to the ground as far as my overhead view. So that's how I evaluate, you know, all of the deals. And as far as what we're buying now, the avatar for turnkey properties, it needs to be, it could be a two bedroom, one bath, it needs to have a good ARV and it needs to have the rent needs to be as close if not above 1% of the ARV. So if it's a 75, 75 thousand dollar house, rent needs to be a 750 or very close to it. Not 650.

Yep.

Not 600.

Yep.

725 is almost questionable.

Yeah.

But 750 or up. Yeah. Two bedrooms are, those are not as many houses. We don't do too many of those, but we do. But a three bedroom, one bath, 1200 square foot house, a ninety thousand dollar value rents for 950 all day long. That's, that's the, that's the bread and butter right there.

Yeah.

Now we have gotten them up to $120,000 house rents for maybe 1150 or 1199. So right there. Yeah, right underneath that 1200, you know. So those, those are not as many as the $90,000 house.

Sure.

But then once we get above like the 120 to 130, once, once you get to 140, that's pretty much the line. And then once you get above 140. Now we're doing retail properties because of that 1% value.

Yeah.

We can't get $1500 for $150,000 house.

Right.

You know, we're maybe still at the 12, 1250 and the cap rate on that is not as well and it's not as attractive.

Right.

Still a decent cap rate, but it's not attractive. And so once we get to that 150, then everything then we sort of change up our rehab standards to make it completely different from our signature series for our turnkey Properties. You know, we'll put stainless steel appliances in there, granite countertops. We just make it look a little bit nicer for the retail properties.

Yeah, nice.

Wow.

I'm learning from something, something from you every day these days. Is there anything else that you want to share about how to. How. How you, as the head of the acquisitions company, are finding deals? Because like we said, 72 deals we did in 20, 1967 and 2020. And that wasn't even what you bought you every single year. That's what we closed. But you still were filling our pipeline for the next year. Right. And this year, we're on fire. Like you. We literally just had a meeting and I asked you and you're like, oh, man, we stacked up our pipeline bigger than we ever have before. So it's a big job. Right. And not everybody can do it. Not everybody's successful at it. So anything else that you want to share?

Well, now we have a team. So now I have other people that are just as hungry as I am.

Yeah.

So when I now what I'm doing, I've quadrupled our efforts.

Yeah.

And so that's one of the reasons why we got so many properties coming in right now. But I mean, I'll get on, you know, I'll be on the computer doing something and I'll get an email saying, hey, I've got this property available. You know, here's the pictures for it. I go look at the pictures and then I go to Facebook, and in one of the Facebook groups, hey, I've got these three properties available. That's one of the biggest things, actually. That is our advantage because of our buying power. Whenever somebody has a package of properties, I know now the buyer pool has completely dwindled as compared to just selling one property. Now I'm only fighting a handful of people for these packages of deals compared to the onesies and twosies, or not even the twosies, just the onesies. And so I love package deals because I know that they know that we're going to buy them.

Yes.

They know that. And so they will work with us very well. So it's. So I love packages of deals. And that's where we get a number of properties. In fact, just as we were walking in here, I heard one of the guys shouting, we just got a verbal on a three pack.

Yeah, that's awesome.

Yeah. So it's. So that's another area.

Yeah.

And I'm kind of getting excited about that. This bullpen atmosphere that we've got going here at the office and how. I know that's totally off topic, but what you just said, hey, we just got through, like, you know, that excitement and that momentum.

Yeah. Because then two other people in the, what we call the fort, we're like, yeah, that's awesome.

I love it. Well, thank you, Flip, for letting me be the person, the interviewer.

I get paid double, right?

No, you are always asking for more money.

I don't get paid at all, do I?

No, you earn nothing here, boy. Thank you for your time and expertise and sharing. My pleasure sharing nuggets with me that I didn't even know about our own company.

So I just sit in my office and do nothing.

You are a true partner, friend, husband, everything else. Thank you for all you do do. And I hope the rest of you guys got some gold nuggets from him as well, because I love it when he even teaches me something and I get to work and live with him every single day. So. Thank you for joining us today. I hope you enjoyed this podcast. This is Real Talk. This was podcast number 11, and Real Talk is real talk for real estate investors. And that's what we like to do. And we always like to end our podcast with invest Smart, Live Happy.

Bye bye, everybody. Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions and information on this show are not guaranteed. All investment strategies have the potential for profit or loss.