In this informal meetup recording, two speakers discuss real‑estate investing experiences and community building. Speaker B recounts a recent foreclosure and deed‑in‑lieu on a partner’s property, noting a small loss but emphasizing the importance of preserving relationships even when money is at stake. The conversation shifts to the meetup’s logistics: free Costco pizza, networking opportunities, and plans to bring guest speaker Jerry Norton to future events. Speaker A explains the evolution from a 50/50 partnership to solo wholesaling after market changes, highlighting reduced overhead (about $500/month) and higher personal profit. They describe a virtual wholesaling model that allows deals across the country, and share a concrete deal example where a buyer provided hard‑money financing and handled rehab in exchange for a $20,000 profit. Throughout, both speakers stress community growth, ongoing meetups, and the value of mentorship and collaboration within the Investor Thrive network.
Chapters
You have someone come and shadow you for a week, but if they don't go out and take action, it's pointless.
Well, yeah, look, just look at our relationship. Started 5 years ago, and now I'm inviting you to a meetup I'm doing where you can influence all you guys, right?
So Yeah, well, honestly, not that we need to talk about it, but like, I think we still have a really good relationship, obviously. But Nate and a former partner of his, like about 4 months ago, I started a foreclosure process on a property they had, and they did a deed in lieu, meaning they just deeded it back to us. We actually sold it yesterday.
Wow.
And even—
you made out?
No, I lost a little bit of money. That's all right. But that's the game we signed up for, right? Like, what I could do is say, "Nate, you're such a jerk. Why didn't you do this right? I'm gonna sue you." But you know what, it's like, "Eh, we'll just keep doing some more deals." Yeah, we'll keep doing some more stuff. So, that's my belief anyway. Like, I always want to maintain good relationships. I mean, not at the fault of losing money or being reckless, but you know, Nate's a good dude. I know he didn't intentionally try to stall on this property. You know, they had other things going on. And so it was like, I get it, man. I've been there, you know, but at the wrong times, but at the wrong time. And you know, it's like, that's okay. So anyway, all right, thanks guys. Cool.
Well, everybody, I hope you enjoyed it. So right now, um, you guys are welcome to connect, network. I usually buy pizza, but I never really know how many people are going to show up. So today You know, I got my Kirkland slides on. If you guys want to roll with me to Costco, I'm gonna buy some pizzas and just eat at the food court. I'm being for real. If anybody wants to come, it's on me. Me and Christian are going. Anybody else wants to come, you just gotta let me know. But, um, yes, like slides on. So yeah, I really enjoy doing this, and the main reason we do this again is so everybody can, you know, succeed and do more deals together. So network, and please keep coming. You know, every, every month these keep getting better and better, and this is It's totally investor-focused, wholesaling, fix and flip.
That's what I want to grow this community here.
So thanks for coming, and I'll try and get, like I said, try to get Jerry Norton next month in. Just check the Facebook group I showed you guys earlier. I'll let you know of any updates, but that's pretty much it. Thanks for coming, everybody. Hey, just explain what you're doing. Oh, I'm feeding everyone that came to the meetup some Costco pizza because I freaking love Costco. You already know it's my favorite spot. Costco is the best, so we're about to feed the whole world. That's about it. Yeah, about to feed them some Costco pizza. Just ordered it 10 minutes ago. We're ready to go. It's the greatest pizza Yeah. Culture to like always be going, like trying to progress, which is cool. But 5 years though, the kids will be starting kindergarten. This would be perfect timing. Yeah, you'll show up school if you want, or you can go to a local school. That'd be awesome. So when you say you want to do it virtually, is that like you just want to own this wholesale business and just have people do it all, or do you want to— virtual wholesale is in a sense like you can do it from anywhere, and that's what I do already. Like, I do deals all over the country, everybody you see in the house? I'd say because I was always the best at my company at like negotiating, I think. I'm doing way better now just because before I had to pay out a lot in commissions, sales fees, marketing. Now it's just me and my overhead is like $500 a month, so I make way more myself. Plus I had a business partner too, so we had to split everything 50/50. So now it's way better. Yeah, so when did you make that split? Probably about 8 months ago, like when the market shift happened, when interest rates went up, my buddy stopped dealing deals as we thought, what we were planning on doing. And I was giving, we were doing 50/50 for us. I was like, this doesn't make sense for us to split everything with the volume we're doing. So we just split up and then I just started doing deals on my own. Cool. How long do you feel like it took you to really get established in your methodology? You require a secure form of, uh, good question. It's hard to say, like, at that one moment we felt really good, maybe like 2 years. Sounds about right. It's like learning the language on your mission, right? That's right. You don't really understand it. You go home. Yep. Yeah, that's how I felt on the mission for real. I was like, I feel like I'm good at this. Yeah, I finally like understand. For example, I did a deal, um, in Ogden. I found the deal and I went to, uh, one of my buyers. I said, hey, if you bring the down, um, to bring the hard money down payment and the rehab, let's flip this deal. But you take care of the rehab. And he saw value me because he just got a deal that will make him $20,000. Does that make sense? That's what I would do. So you just like talk to random people and be like, hey, if I don't have to make that down— I would say random people, you— I mean like the people that you never— sorry, right, right, right. Yes, yeah, of course.
Yeah.
So for example, if you maybe have a long-term— different. Yeah, yeah, long-term. But if you're like a flipper, you would say, hey, look, I just found this great deal, I'm gonna plan on flipping myself and finding the money, but if you can bring in the half of the down or half of the rehab, and I'll bring in the other half. Or you even tell them, hey, from there without any money. That's the way you can do it. You're like, okay, let's get long-term under it so I'll know what I'm doing here, then we'll start looking at potential flips. So I think— here's the thing, what you gotta do is look at each of them like cleaning contract. Like, hey, this one looks like we could just be bare minimum, maybe I don't order in a month, I get it clean, and you can make it a cleaning fee. Either way, I mean, yeah. Awesome. All right, hey guys, I gotta roll. Okay, it's good to see you. Enjoyed it. Nice to meet you, man. Good. Thanks, sir. I'll shoot you a text. Yeah, text me. Text me too. That was fun.
