Episode 3 | Scaling To Over 100 Flips w/ Ryan Mitchell

Welcome back to The New and Experienced Investor. I'm one of your hosts, Alex Barnett.

And I'm Joe Homs.

Yes, and today's guest, we have Ryan Mitchell. We're gonna get to know, uh, Ryan here in a second, but, um, I guess let's just tell everybody right now, right off the bat, How do you guys know each other?

So Joe is my father-in-law. That's how I got started in the business almost 10 years ago now. So— Wow.

It's been that long?

Close. It's, it's, it's going on 10.

Okay. Yeah.

Let's quickly talk about the elephant in the room. Ryan, how tall are you?

Well, I'm sitting down, so you can't tell, but I'm 6'7.

Not fair.

Yeah, Ryan, Brian will probably go into this, but we started the first 3 flips together and we're actually in there flipping the property and fixing it ourselves. And the deal we had was I did everything low and he did everything high.

That's fair. That makes a good team right there. You know, play to each other's strengths.

Yep.

Okay. Well, I guess, yeah, go ahead and tell everyone, you know, how you got into real estate and maybe what you were kind of doing Before that, and then what led you to make that decision?

Yeah. So I got into real estate, like I said, almost 10 years ago now. The first step I made was actually I went and worked for a contractor. It was one of Joe's friends. He suggested, you know, I was in between work and, you know, I go into like where I started before that, but I quit my job. I wanted to get started in real estate. And first thing he says, get your real estate license and go work for a contractor. So I did that making, you know, $10 an hour. It wasn't really about the money. It was about Learning the construction experience that now, you know, I have. So did that not for not that long, maybe six months. Once I got my license, you know, I came to Joe and said, "You know, I'm ready." I didn't want to be a real estate agent. That was not the the goal of of getting my license. It was more to represent myself buying and selling flips. So came to Joe and said, "I'm ready. Let's find a flip." Found it on the MLS, and like Joe said, we did all the work on those first maybe. We did like five or six flips, I think, where we were literally doing all of the work—the flooring, the paint, you know, top to bottom—we were pretty much doing everything. And from there, you know, I wanted to scale. We were doing one at a time. I think we did five or six in the first maybe two years or so. And I wanted to scale, so hired a contractor, started doing two flips at a time. We bought our first two properties, and then really just. added on from there, kept snowballing the money, rolling it back into the business. And now, almost 10 years later, done over 100 flips in Southern California and, you know, made a little business for, for myself.

Let me bring you back to the first flip that we did. And also, by the way, who are you married to?

Well, you're my father-in-law, so I'm married to your daughter.

Yeah. Thank you. And she's also in the business and she's a broker. And she was really good at designing the flips that we were doing. I have to give her like credit for that because I'm terrible at designing, but yeah, she did really well. Um, so anyway, the first flip that we did, there was a hallway in this bathroom and it was like— I mean, I could barely fit through it. That's how skinny it was. And so Ryan and I said, okay, well, we need to move this wall into this bedroom, which was huge. Um, I said, okay, we can do that. It's not a load-bearing wall. We cut the, um, all the nails and everything that were on the top of the drywall, um, wall itself, and then cut the ones on the bottom. Him and I literally, literally moved that wall about 2 or 3 feet.

And that was your idea?

That was my idea.

That was definitely your idea.

He wanted to tear it down, start all over again, you know, frame it up and everything. And I said, That's a waste of time. I think we can literally cut this, uh, wall at the right places and literally move it over. I was as shocked as he was at the end of the day that it worked. That it worked? Yeah, it worked. We literally just grabbed— I mean, you can imagine him and I sitting there grabbing the wall and moving it over like this, and then going to the other side and grabbing it, moving it over. It was like It was a miracle.

Well, I remember too, because there were switches and outlets on that wall and we didn't change the wires or make them longer or anything. So when we moved it 2 feet over, all the switches and outlets went up 2 feet too. So our switches and outlets were way up on the wall. So it was probably a little bit weird, but it worked.

That's the first one. So, you know, that happens when you're flipping and it's the first one. Yeah. I mean, I'm still proud of that. I really am. It was amazing.

That's great.

There was a lot of things that we, you know, doing it ourselves without a contractor that we saved money on. I mean, that's, that's why we did it. We actually learned later, once I hired a contractor, that, you know, there's the economies of scale with, with working with a contractor. And he was able to come in and do the rehabs for pretty close to the same price that, that we were getting them done at, maybe $5,000 to $10,000 more. But with a contractor, that's not us swinging the hammer and doing it anymore. So that was a big shift. Um, you know, to really scale the business.

Okay. And it was a lot more speed with the contractor, you know, because he's able to throw in, you know, 4 or 5 bodies to do something when it was just him and I for a long time. I can tell you that I was a lot skinnier back then, uh, working, right? Um, yeah, you'd be surprised on when you're flipping a property and you're working on it how many steps you actually put in a day. And it was like I was putting it over 10,000 steps a day, you know. Mind you, my steps are 2 for his 1, you know. But, uh, yeah, it was like, it was a good workout. And, you know, skinny. And, and one of the other properties I want to mention too, uh, was in Huntington Beach. We did not— we weren't sure where this, this was a load-bearing wall or not. And I had My contractor friend come over and we just had the post left, so we left the post there. He comes over and he kicks the post down. He goes, well, it didn't fall down, so it must not be load-bearing. Yeah, it was— him and I were like shocked, shocked.

Yeah, I don't know if we actually went up in the attic and checked.

No, I think he didn't. He didn't.

He's just like, you know, yeah, it's just—

he just kicked it, you know. It's like we're kind of like, wow.

Yeah, it was granted. Granted, it was a single-story house, so there wasn't a lot of load there, but obviously it was load-bearing. It's load-bearing. But so we found out that way it didn't sag, it didn't move. So we moved on. But the important part in doing that was that I learned the construction process like really, really well. And I use that to this day, obviously, you know, when When you have that experience of doing all the work yourself, you, you know, you don't get taken advantage of by a contractor. You know how much things cost. I mean, I could probably go take my contractor's test, maybe study a little bit and pass it. So I know enough now that, you know, it just— rehabs just go smoother. They're a little bit easier. I know how to work around problems a little bit easier and just kind of make things happen. So.

Okay. What was your least favorite thing to work on? And you were like, oh God, we gotta do this now.

I didn't, never liked painting. We, a lot of times we, I mean, I have pictures of myself in a paint suit that's, that's like 2 sizes too small. They're like, it's like, uh, you know, up to my like shins. Um, but yeah, painting was always tedious and didn't like that. There was a lot of stuff that I did like, you know, I'm detail-oriented. So like, you know, tile was, was fun for me. I mean, I actually enjoyed a lot of the work that we did.

Okay, so we, uh, we were flipping this one property, uh, I think it may have been the Huntington Beach one again, and we needed to put sod in a front yard. And I, I told Ryan, I says, you know, my dad and I have done this before. You know, it's, it's all about getting a rototiller, getting out there, then leveling that off, then just literally putting the sod on there. And we ended up doing that. It was a lot of work. Let me tell you, it was a lot of work to do that.

And we had one guy helping us through, I think.

Yeah, but yeah, I thought that was fun, you know, doing that.

Okay. Yeah. I mean, everything was fun. I think we both had a lot of fun doing it. Yeah, it was a really good experience. I would— if I were to go back and do it again, I would probably at least do 1 or 2 flips myself. Maybe not 5 or 6, but I would do the same thing over again just because of the experience and the knowledge that you gain doing it. I didn't scale it as fast as we probably could, but there's a lot of important lessons there.

Absolutely. And then where were you guys finding these deals? Where were you guys getting your deals from?

I mean, that was also a really fun part is in the beginning, we were buying foreclosures. This was back in 2013 to 2016, 2017 when foreclosures were plentiful. And you can go to the courthouse. I mean, there's multiple people. big sharks that are there bidding against you. But that was one of my favorite parts too, was, was going there. You know, we had cashier's checks for, you know, $500,000, $600,000 sometimes, and we'd go to go down to the courthouse and, and bid on these properties and buy them that way. I mean, that was a blast.

Ryan liked actually the bidding process as well. So he had a lot of fun. My daughter decided, well, she wanted to do it once to see How it was. She did it once and said, "I'll never do that again." You know, it was she said it was too stressful. Right. You know, and it's like she says she had all this money, and I said, "What do you mean you had all this money? You had paper in your hand." You know, don't think of it as money; it's just paper. And you know, you're bidding, you're looking at us. You know, those guys are on the phone. They're they're they're like. You know, maybe I was at the, at the house at one point, kind of saying, you know, this is what I found over here. Maybe you can bid a little bit more, but keep your number at this number. He's at the, he's at the courthouse, and he's, you know, on the phone with me, and we're kind of conversing back and forth. But that's how they are over there anyway.

All right.

And they're like this. I mean, they're like literally like, I don't want you to hear what I'm talking about. I don't want you to get any numbers from me. Right. $550,000. Yeah. Okay, next. Yeah, that's how they are at the courthouse steps. Okay.

Well, that was, that was a lot of fun. Oh my God.

It's like an adrenaline rush. You know, it is nerve-wracking a little bit, but it's so much fun, especially when you win a property. I mean, I actually bought one of my primary residences as a foreclosure too. And I just remember the guy that I was bidding against kept looking at me because I was buying it. I was buying it for myself. So I didn't need that huge spread when he was buying it to flip. Flip. So I just kept going and going. I was getting a good deal no matter what I did. So yeah, it's just those are good.

Yeah, and that was one of the regular big-time flippers that was there, and he would only bid on properties in South Orange County. This property was in Aliso Viejo, and he came up to him afterwards. He says, "Are you buying this for yourself?" He goes, "Yeah." He goes, "I thought so." Yeah, I didn't know.

So yeah, I thought so. Well, we still got such a great price on that property. Yeah, I mean. We bought it for $583,000, I think it was. Yeah, $583,100. That was the fun part about bidding at the courthouse steps is like you can bet you can bid a penny over, $100 over, $1,000. Like in the beginning you're making big jumps like $10,000, $20,000, $15,000, and then it starts slowing down and it's $1,000 at a time and it starts going down to $100 at a time. So $583,100. I mean, I— we fixed up that property. I lived in it for 2, 2 and a half years and we ended up selling it for like $820,000, I believe.

Let's go. Yeah.

So yeah, I mean, the, the fun part too is also like we had a connection with the title company. So there was a special number, that phone number that we had that only people, these big investors that went to the trustee sales had. You know, you call, you run the APN number, make sure there's no— you know, they do a title, a quick title search, make sure there's no liens, no, you know, federal tax liens, any, anything crazy that would— you know, those things don't go away in a foreclosure. Obviously all of the loans get wiped out, but The state and federal tax liens stick with the property. So, you know, you do a title, quick title search and, you know, and once if none of that stuff is there, then, you know, you're, you're in the clear.

Wow. And are those days gone?

Of the core investors, there's probably like 5 to 10 investors in each county. And we were bidding back then in Orange County. Those guys are still going, I'm sure, every single day. We went through a pretty dry spell of foreclosures where there was pretty much none selling. I think for the entire year of like 2019 and 2020, there was like 60 to 100 properties sold. Back when we were going, there was thousands a year selling.

There was— when we were there, every day, Monday through Friday, there was probably 100 properties that were being sold. Yeah. At that point in time. And so, you know, you, you had your— you can pick and choose whatever you want, whatever area you want. You know, new or old or whatever, and, uh, and then buy it very easily at the courthouse steps. And I would say the courthouse steps is probably the most, most profit you're going to make buying it there, because remember, you're most of the time you're buying it sight unseen, so you're bidding a lower price than anybody else out there. Um, you know, wholesaling would be next, and then You know, once it gets on the MLS, it's forget it. You're gonna pay too much.

Right. Okay. Um, so let's, let's jump forward now to kind of sort of present day. Now you're flipping. What did you do last year? How many properties would you say?

I think we— I closed 15 or 16 properties last year.

Wow. So how do you go from doing, you know, a couple a year up, up to there? Is it a gradual thing? Is there a certain system you put in place? Did you hire somebody, or what, what's the biggest catalyst?

Well, I mean, in the beginning, you know, we were, we were paying cash. Um, so we had a limited amount of cash, which was still a lot buying, buying properties in Orange County. You know, we had enough to buy maybe 2 or 3 properties, and then we were tapped out. So the biggest shift that we made is, is going to hard money to then only put 10% down on a property. I mean, you You can buy so many more properties with the same amount of funds. So that was one big shift that now, you know, I think I own 16, 15, 16 flips right now at one time. And the amount of cash in the business hasn't grown a tremendous amount since then. So that was the biggest shift. And of course, you need a good contractor, you need your own subs, and that stuff kind of comes with time and experience of going, going through that process. But yeah, that is the biggest shift is Finding a really good hard money lender and putting the least amount of money down on the property as possible so that your cash will stretch way further and you can buy way more properties.

Okay. And then if you— so you're starting to work with the hard money lender, you're not putting 10% down right away. You do— is it because you've done a certain amount that you can get that, or do they make you put 30% and then move down 20%?

No. As a brand new investor, you can still put 10% down. It's just the interest rate and the points are going to go— are going to be higher. Gotcha. You can still do 10%.

Okay. Yeah. Okay. So then you just have to work that into your numbers.

Yeah. Okay. Yeah. I mean, you know, as a brand new investor, you're probably paying anywhere from 10 to 12% on the rate and paying probably 2 points. I'm paying 1 point and I think interest rates have gone up a little bit, but I think I'm at like 8 or 8.5%. Nice. Okay. Wow. But it's 90% of the purchase price, so 10% down. Plus they will fund all of the rehab costs as long as that total loan amount doesn't exceed 75% of the after-repair value. So I'm actually pulling rehab funds now on every single property, and if I need them, I draw them. If I don't need them, it stays there. But it's just a great tool to have to help you with your cash flow and, you know, again, scale and be able to buy more properties because those rehab costs are being funded as well.

Absolutely. And then, you know, speaking on the rehab, you don't just have one crew working all these, right? Do you have multiple now, or how have you— how have you built that out?

Well, so because I have 15 properties now, so there's probably, you know, there's 5 that are listed on the market, there's 5 that we're working on, you know, and there's 5 that are kind of in that in-between phase because a lot of times we're buying them with tenants or, you know, there's different situations like that. So There's probably only 5 to 8 properties that we're working on at one time. So yeah, I've had to use different contractors. I have a lot of my own subs. And going back to that, you know, experience I gained, you know, doing the construction myself, it really helps, you know, the order of operations on a rehab, knowing what goes first, the flooring, cabinets, paint, like, you know, all that stuff. And then being able to have your own subs to where if the contractor is not able to do that, I can run a whole rehab myself just using subs, you know, having a painter, a flooring guy, you know, cabinet installer, countertop person. So that's, that's what really helps. I've tried so many different contractors now, and I have one that I, you know, mainly use. And every time I try to use a different contractor, you know, it's just not the same. I've worked with the same contractor now for almost that entire time. So it's been 5, 6 years. So he knows what I want and what I like. He knows, okay, we need carbon monoxide detectors, we need water heater double strap. He knows all the things that we need to pass our inspections and get through our appraisals. So there's very little, you know, things that we have to discuss. It's like, what color paint are we using? What flooring? He already knows everything that we're doing. So that's, that's the best part is if you can find a good contractor that can do it at scale, it'll be great for your business. Now, the, the thing with a contractor is, is that they're all going to say that they can take on more work every single time. It's like, yeah, give me more jobs, more jobs, and then you'll find out that your jobs slow down. So you got to find that, that sweet spot with the contractor you're working with of, you know, how many can he handle and not slow down? How many guys does he really have on his crew? Some contractors, that might be 2 or 3 jobs, some that might be 10 or 15. Um, just depends on, on, on their crews. So, wow.

And, and I mean, you're sort of overseeing all those. Does that get pretty intense at times, or how are you using that? Are you using like software to keep track of where you are? Is it all up in here, or how are you doing that?

No, it's, it's really all in my head. Um, you know, the, the contractor now is basically like a project manager. So if you have a good contractor, maybe they have their own project manager in place, or they're the ones that aren't actually doing the work. Your general contractor is the one that's going around and managing each job. Of course, I'm still pretty hands-on. I'm still, yeah, managing the project for sure. But I rarely go to the projects anymore. I mean, I've flipped so many houses now that I've never seen, and it's because I have, you know, guys that I trust. So that's, that's great.

And like you said, that just takes— that comes with experience. That takes years. To, um, you know, kind of build up to that?

Yeah. Yeah. I mean, I'm sure you can do it right away. Um, it's, it's really finding the contractor. That's, that's, that's the key point. Um, it's finding a contractor that you can trust.

Gotcha. Now, now looking ahead into the future, what, what are your plans for the next, you know, 5 years? Are you looking to scale even more and double it and all that?

Or what, where Yeah, I mean, it's interesting because like there's a point to where, you know, it gets to be a lot to manage. So it's like, do I want to scale it and do 100 flips a year and hire a team, have my own project manager, construction manager in-house, have a personal assistant paying all these people? I mean, is— am I going to be making the same amount as if I just do it myself and do 10 to 15 flips a year? Or do I wanna go to the next level and really hire a big team? And I've been thinking about that for a while now. I have a pretty good system in place and yeah, it's something I'm thinking about. So I'm not sure yet.

Undecided. Yeah, yeah, no problem. I mean, things always change too, as each year comes, you have a kid now. So it's like, where do I wanna put my time? So you gotta, definitely gotta put all that, that's all in play.

Yeah.

Okay. And then are you, are you looking— I know you have a couple of short-term rentals, so you're getting into— you're going beyond flipping, you're buying and holding, possibly something out of state. Yep. Where, where are you kind of looking at right now? What's drawing your attention?

Yeah, well, after flipping 100 properties and now going through a time in the market that things are declining and things are kind of uncertain, you know, you think about, you know, what you're going to fall back on. And for most real estate investors, that's That's rentals. That's what's going to provide them that passive income for the rest of their life and when into retirement. So, you know, this little adjustment we went through has really made me think more about buying rentals. So, yeah, I mean, I have the 2 Airbnbs. That's the first 2 rentals out of the 100 properties I flipped that I actually kept. But yeah, I'm really analyzing again, this is kind of like a shifting point in my business is do I want to, you know, blow up Flipping or do I want to transition into buying rentals? I think there's a sweet spot. I mean, I know, I know some investors, some flippers that will keep every 4 or 5 houses that they, that they flip. So they flip 5, keep 1, you know, so they put all the profit into that one property. So those 5 flips buy that house and they just do it that way. So if I were to do that, if I would, would have done that on all my flips, I would have owned 20, 30 rentals now and all in Southern California. But I wouldn't have been able to scale as fast. I would be, you know, keeping money in the business, in properties, and tying up cash. So I don't think there's any, you know, perfect way of doing it. But I'm definitely looking at, you know, buying more rentals because at the end of the day, we don't have— as in real estate investors, we don't have a retirement plan, 401 and pensions and all that stuff. So rentals are that answer for our retirement. So at some point, you got to have enough rentals to I like that.

Yeah, that's a good mentality. Are you continuing your education or how are you doing that? Are you mentoring under— I know you mentored under Joe. Are you mentoring under anybody else or how are you doing that?

Not very much. I've bought a couple courses on multifamily. Obviously, that's one big popular sector now is going into that. love to buy. Well, I guess I'm going through the education to see if it's something that I want to do.

Yeah.

So yeah, I'm educating myself on, on that part of it, multifamily and the bigger commercial stuff, because after doing it for 10 years, of course I don't know everything, but I've, I've learned a lot over that, that span of time. So there's not much another flipper is gonna, gonna teach me other than if they're doing it at a super large scale. Of course, then I have a lot to learn, but There's not that many people in each market that are doing 100 or 200 flips a year, you know. So, but yeah, the education is ongoing for sure. But yeah, it's all about what's next. You know, I want to move into rentals, so that's what I'm, you know, educating myself on now.

And you're teaching up-and-coming wholesalers, flippers. They can reach out to you to get educated. Do you have like programs going on right now?

I do. I don't push it. I don't advertise it that much. I have a one-on-one I am working on developing a course probably by the end of the year. At some point it'll be like a flipping and wholesaling course. But yeah, I mean, you can reach out to me, of course.

Nice. Okay. And then are you ever partnering with anybody or how does that work? Is it kind of a one-man show or—

No, I bring on partners. I bring on private money. Some of the people, depending on how much funds they have, they can either provide the gap funding, which would be the difference between, you know, my hard money loan and what the purchase price is. So some, depending again on how much people have to invest, they can either provide the gap funding or I— people that have a little bit more money, I place them in a property. They own the first trust deed on the property and get 10 to 12% interest. So I'm just closing a property tomorrow with, with the private money lender that's a friend of ours, and she's funding the entire purchase price of the flip and Paying your 12%. So yeah, partnering, of course, we're always looking for deals. If you have off-market properties, then that's one way we can partner. Or if you want to invest, then that's another way we can do it.

And how do they, how do they find you? How do they reach out to you?

Instagram. My handle is Ryan G. Mitchell on Instagram. That's probably the best way.

Okay. Gotcha. Gotcha. Anything to add, Joe?

No. No, I'm very proud of him though, I can tell you that. Okay, he started, um, I don't think we went into what he was doing before that. He was at a sales job, and I think you were making what, $60,000?

I was making $36,000 a year plus commission, but the commission was very little. So yeah, pretty much $40,000, $50,000 a year.

And the first flip, how much?

The first flip, we netted $86,000. I think my cut, you know, my generous cut, thanks to you, was I think I got like $60 grand of that. So yeah, that's—

that was more than I was making.

Yeah. I mean, I had already quit my job, so I went all in anyway. Yeah. But of course, if I was working, that would definitely make me quit. I made more than I was making in a year. And I mean, I think the flip maybe took us 4 months. Yeah, so yeah, yeah, that's a game changer.

Oh my God, yeah, totally. Yeah, it's, it's, it's like that first big chunk, it just changes your, your mindset. It changes your view of everything where, I mean, I know with me I was like, $100 is a lot of money. And then I went to like, $1,000 is a lot of money. Now I'm like, it's only 10 grand. And then it's gonna be like, it's only $100,000. What the— so just that mind shift though, blows your, like, just your opportunity levels open, you know, because now you're seeing the world in a different light. It's really, it's really wild.

Yeah. Once you flip your first property and make that first big check, I mean, there's no better feeling, you know? And the big money is not in checks and it's in wire transfers. So that was a wire transfer that hit our account.

But that's not as Instagrammable. Yeah. Just like walking out with the big check. What up, y'all?

Yeah.

Yeah. No, it's a game changer. You get a little sense of security. You know, your bills are paid. I mean, going from broke to $50 grand in your account is— Yeah, you're king right there.

Yeah.

I like this, how you made him do the— you said, get your license and then go work for a contractor. What if he just didn't do that? What would've happened? What if he was like, oh, it seems hard, I'm gonna snowboard?

We wouldn't be here talking to you today.

Oh yeah?

Because, you know, over the last 10 years, I think I've met with over 500 people that wanted to invest in real estate in different fashions. And I really— I mean, I can look at my hand and tell you how many actually followed up with any of that stuff. I think that's why gurus out there who sell, you know, their fix-and-flip course or whatever it is for thousands of dollars, which I do meet with these people who pay this, um, you know, end up doing that because they know that 98% of The people they sell this course to are never going to do anything at all. They're never going to follow up. It's usually found underneath their bed. I tell them all the time, where's it at? Underneath my bed. Pull it out, put in front of the vanity where you brush your teeth every morning so that embarrasses you. You know, you have to do something if you're looking at it every day, right? So get out there and do it. Um, he listened. He obviously listened to everything I said. And yeah, we moved forward. And, you know, back to that original first flip, there was a lot of firsts that went on with that. I'm on a cruise, I'm in LA getting ready to leave on my ship, and I get a call and it's from the neighbor next door to that. He goes, what's going on over there? And I go, I don't know what's going on. He goes, somebody's pounding the wall in my bathroom. My, my bathroom tile is almost ready to fall off. And I go, okay, let me take care of it. I call Ryan. I go, what are you doing? He goes, I'm pounding on the wall, you know, cause I need to remove this. I go, stop. I go, you've gone too far. Don't pound anymore. If you're at the brick, that's it. That's all we want. Uh, don't go any farther than that. And it's like, yeah, so many, so many different firsts that you learn from, um, on the way, you know, it's just amazing. And I've been doing this for over 40 years, and this is the same process that I went through with my dad. And he was hands-on all the time, and, um, he never hired contractors at all. It was him and me, you know, just there with, you know, hammer, nails, and doing whatever needed to be done. And so I— when he came to me and asked me to do this, I said, okay, well, I'm not going to give you my money. Until you learn the business from the ground up. And he actually did. Yeah, very proud of him and my daughter both.

Yeah, it's important if you are presented with an opportunity, a mentor that's generous enough to show you the ropes, that's been in the business as long as Joe has. It doesn't necessarily have to be that long in the business, but you have to take advantage of those opportunities. You know, I would not have been here if I did not meet Joe or, or And I've had other, you know, mentors as well along the way. And, you know, you want to soak up as much information as they have to provide. So take advantage of the opportunities. And that's, that's the biggest lesson. That's great.

Wow. Inspiring. I got to tell you, I hope I'm right behind you, man. I'm trying. Okay. Well, yeah, you guys reach out to Ryan, hit him up on IG. I know you're starting a YouTube He's all over socials. So send him your deals. And I guess, where do you see the market heading right now? Just give us your crystal ball.

This year, I mean, I think you've probably talked about it as well. I don't think there's this huge 2008-type crash coming. Obviously, we're seeing a little bit of a correction. And it's all going to be dependent on interest rates and the market. I mean, Yeah, like you said, no one has a crystal ball. But if I were to guess, we've probably kind of hit the bottom, so to speak. I mean, maybe there's another 5 or 10% to go down. But if you're looking to invest and flip properties, you just account that into your numbers. If, if, you know, right now there's so much more opportunity, all you have to do is take your ARV, subtract 10 to 15%, and do your numbers from there. And you cannot make a mistake if the market goes down another 10% and you already accounted for it in your numbers. If it doesn't, you got 10% more profit there on your, on your property. So you can flip in any market. People were flipping back in 2008. They were just doing the same tactic. They, they calculated how much the market was going to go down and they just took that off. You know, back then it was 3 to 5% a month. Take that off your ARV. The hold time is going to be 6 months. That's, you know, 18 to 25%, whatever it is. Subtract that from your ARV and move forward. That's, that's That's how you flip in any market.

There you go. That's like a million dollars right there. Boom. Free. Free for you. So yeah, let's let's wrap it up. Make sure to subscribe to the podcast, share with your friends, and we will see you guys next week. Joe, anything? No. We'll see you next week.

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