Wholesaling Real Estate Ring: Live Calls To See What It Really Looks Like

What is going on, my brothers? How you guys doing today?

What is going on?

Yes, how is everybody today? Oh yeah, what's going on? I'm doing good. I'm coming straight from the dungeon, as you guys can see.

I got my curtains up.

Yeah, I'm in Canada. I'm in my father-in-law's basement and they threw up some curtains for me in my satellite office. You know that's legit.

It looks super shady, I'm not going to lie.

Bro, that's like when you know you're like really playing the role of like wholesaling of like in the parent's basement, like just like, yeah, I can pay all cash. And I can say that joke, guys, because I was there. I did it too. You know, we all got to start.

Check it out. You know, you know, it's gangster when you got the laundry room back there. Oh, guys, I promise you, I have, I have my own home. Um, I don't always work out of a basement, but when I do, I'm still doing deals, and that's what we're here to do today.

Pain exposed.

Renting out.

Guys, uh, falling on some hard times. I'm, uh, working out of my basement, uh, renting it out. Anyway, all right, everybody, so what is today? This is the, the Real Deals, the wholesaling real estate ring, where we actually make phone calls. We call people, We show you guys how this is done. And just to show you guys, you can do this anywhere. I'm in Canada in a basement. We're still getting it done. Nathan Valley is in Connecticut. Lane is in Arizona. So just introduce myself. My name is Nathan Payne. I've been doing wholesaling real estate for about 6 years now, done hundreds of deals, done millions of dollars in transactions, and I've done it from everywhere. I've done them from Canada, from Utah. It doesn't matter because you can do this job from anywhere. So that's who I am. Nathan Valley, tell us who you are.

Yeah, what's going on guys? My name is Nathan Valley, not to be confused with Nathan Payne. I've been wholesaling for about 5 years, um, done a bunch of deals, a bunch of different places. Some of you might have seen a 30-day challenge I did a while ago to where I picked totally brand new market, no contacts, no resources, nothing, and my goal is do a deal in 30 days without spending any money on marketing. And we did a— or I did a $20,000 deal from that challenge, which was pretty cool. And only worked on it like 2 to 3 hours Monday through Friday. That was awesome. But yeah, it's just a little bit about me. Lane, how about you, brother?

That's as easy as it gets, right? That's how it happens all the time in wholesaling.

Oh, always.

That was my journey from day one, obviously. Yeah.

What's up, everyone? I'm Lane Peterson. I am— I have my company, which is 123 Closed. That's how easy wholesaling is. One, you find a distressed seller. Write a contract, sell that deal. 1, 2, 3, close. I've been wholesaling for last 15 years here in Arizona and all across the nation. Done thousands and thousands of wholesale deals, and I love it. I love it. We're here grinding and talking with sellers every day.

That's, that's what it takes.

Takes talking to sellers and knowing what to say on that phone, right? So guys, that's the plan today. You hop in here because you want to see what it really looks like to talk to sellers. You want the realness, right? I'm, I'm really in a basement right now, right? And we're really gonna make some calls. So that's the plan. And as always, the promises— we're gonna pick up that phone, you're gonna hear some real conversations. So let's do it. All right, Nathan Payne, I know you got something on the pipeline that we want to talk about, and we love to hear Lane's expertise on it.

Yeah, yeah. So, um, so this lead actually came in from, uh, yours truly, who's actually watching live with us right now. Julius, what's going on, brother? So Julius did this job, um, he found this, this awesome lead and, um, you know, and kept kind of like the foundational, the, the, you know, most important principle with, with wholesaling, which is he found a motivated seller. You know, it's like, okay, the price, uh, but did a really good job qualifying the lead, understanding the situation, getting the motivation, and uncovering all the information around that that situation. And so despite the price, we're like, okay, no, this, this is an opportunity. So this is a deal, um, we're still working on. It's, it's in Texas, it's in Houston. Uh, just spoke with the seller this morning.

They—

it's a 4-bed, 3-bath, 2-car garage, over 2,000 square feet, nice home. It's in great condition. They just did a ton of renovations on it.

On market or off market?

Off market. They've done a ton of renovations on it. Now, as far as price goes, they want $330,000, but in that neighborhood, I mean, Matt, like, the most the property sold for in that neighborhood is about $285,000. Um, could this sell for $285,000? Possibly. But like, $285,000 is like ARV. ARV could maybe be argued even a little bit lower than that, but between $250,000, $280,000. They wanted $330,000, um, but they're also— they're open to creative finance. But the thing is, they're, they're motivated sellers, so they're— they already moved out of state, they can't afford two mortgages, they're in Georgia, they don't want to rent it out, the house is vacant, um, they need to sell it now. So listing it— basically everything else is not an option for them. They owe $161,000, so they have a mortgage of $161,000. With a 2.75% interest rate. The PITI, so basically the, the monthly payments on the mortgage, is $1,364. So $1,364. And so this morning I was talking about a couple different options, uh, with them. Um, was able to get them open to the idea of $300,000 with us taking over the mortgage sub-2, and then they finance the rest with zero money down, um, and it'd be at 0% interest. Um, didn't talk to— I said the monthly payments would be about $385, which would make it, you know, 0% interest over a 30-year term. And then we didn't talk anything about a balloon payment. So now, but she— the plan was She sounded kind of on board with it. They don't need money up front in a down payment, you know, it'd be nice, but they're— they don't need it. For them, it's more about the number. Um, and also, what was I gonna mention? Yeah, I'm not too sure what her— how the conversation went with her husband, if she got a chance to chat with him today. So I just had this conversation with her this morning. So where we're at is— and also, I set the expectations of, hey, a lot's really going to depend on when we walk through the house. Um, the house looks like it's in beautiful condition. Um, definitely probably the nicest house in that neighborhood, uh, as far as interior and updates goes. Um, I set the expectation with her where I was like, hey, look, here's what we can do. $300,000 is really pushing it. Um, I don't know if we'll be able to, you know, come up to that 100%, and a lot is really going to depend on the walkthrough. And so I set the expectation of Hey, here's what we can do. We can move forward if, if that's a number I think we might be able to do. Chat with your husband, see if it— if that works for you guys. If we're able to where we think we might be able to make that work, we can move forward with an agreement, get something signed on paper, and then we'll do like a 5-day inspection period. And what that'll allow us to do is to get a look inside the property, and then also we'll have some of our our, um, unique relationships, go take a look at it because sometimes they're able to pay more than me for whatever reason. You know, they got projects in it, blah blah blah. And if I'm not able to buy it, chances are they probably can. They're usually able to pay a little bit more for me. And worst, worst case scenario, if they're not, I'll at least be able to tell you exactly why not and what price they would be able to pay. And so that's conversation she was supposed to have with her husband around lunchtime today. And so that's what we're following up with. So the question of where we're at with this deal is, I've had— in, in my previous experience, I have had issues to where— now these weren't the hottest markets, but I had issues to where even though the terms are really good, investors still had an issue if the price was over retail. Um, especially if they felt like it was, you know, more than just a few thousand dollars over retail. Um, and Payne, I know we were talking about it earlier, and you feel like, hey man, this is a smoking deal. Like, if they're okay with the 0% interest, zero money down, and we're taking it over sub-2, um, and the market rents in the area are probably somewhere between $1,900 and $2,100, just going off of what she was saying. Um, don't hold me to that though. Yeah, yeah.

So Lane, what's your opinion on it? Because I gave him my opinion. What's your opinion when you hear this?

Tell me, how— what's the loan balance?

$161,000.

At what interest rate?

2.75%.

And that total payment is what?

$1,364.

And you offered her an additional $350 a month for the equity?

So yep, she wanted— at first they were set on $330,000. They wanted a purchase price of $330,000, so they came down to $300,000. And I said, I said the monthly payment— so, and this is— it's all still up in the air. And guys, this is what's so great with negotiating. My favorite word. What's that?

What state is this in?

Texas. Okay, Houston, Texas. So my favorite word is if, if and maybe when it comes to negotiation. Hey, if I'm able to do this, it might look like that. Hey, if we're able to do this, maybe, you know, it'd be around here. So I said the payments would likely be in the $350,000 to $380,000 range.

When you say that, you're talking about $350,000 above what they owe?

Correct, correct. That's $350,000 to $380,000 directly to the seller.

And you offered her an additional 350amonth for the equity. So. Yep, she wanted. At first they were set on 333.

They wanted a purchase price, 330, 000. So they came down to 300 and I said, I said the monthly pimp.

So. And this is, it's all still up in the air.

And guys, this is what's so Great. With negotiating. My favorite word. What's that? What state is this in? Texas. Okay. Houston. Houston, Texas.

Probably. Yeah. There, there is a chance it could actually reach— I mean, you know, just because of the renovations they did, there's a chance it could sell for $300K. But I would, I would say $285K.

Yeah. $280K.

Yeah. And in situations like this is like they obviously don't want to take a haircut. They put, they put $100K into it. Apparently they don't want to sell it right now. And I'm assuming lose out like if they were to sell it on the MLS. That's why they don't want to sell with a realtor because they're like, well, we don't want to pay fees. So I'm assuming that's what's going on.

Yeah, it's a combination of that, but the time is really a big one for them too. Um, I'd say probably mostly the time. They, they probably would list it if they had the time.

And are they on— do they agree with you that if they listed it, they'd only get like $285,000?

No.

So they think it's worth more?

Yeah.

Yeah.

Okay. So me personally, when it comes to creative, I'm okay paying more than what the property is worth. That's totally fine, right? It— I'm willing to do that if you get the right terms. And it sounds like you're getting pretty decent terms to justify overpaying for it a little bit. You're getting 0% on that equity. You're paying $350 a month. So now it's just going to depend on how long you can get them to— until they receive a payoff for their entire equity, right? If you can get— if you're basing it on a 30-year, and if you can get a 10-year balloon, all day long I'd pay $300,000 for that property. I, I think that you're completely safe. You're paying down principal every single month, and by the time it comes to 10 years, you're going to have paid down that loan and the, the equity enough to where you're going to be sitting pretty. After 10 years.

Yeah, that's exactly what I said.

Yeah, so I think, I think you're totally fine. You're, you're all in. You're about $1,714 a month, and that is PITI, right? That's taxes and insurance included.

The— so the set— yeah, the $1,700 of what you're saying is PITI plus— yes, the seller financed.

Yeah, so that $1,364 what their payment is, that includes taxes and insurance. Yep, because Texas is, you know, property taxes are, they're way up there. So you got to make sure that's included in that payment. And I, I think you're fine. I mean, you are going to have it. So it depends on what your strategy is. Are you going to keep this for yourself? Are you going to go and wholesale this? You know, what's the strategy? Because, yeah, a lot of people, a lot of new investors, a lot of people trying to get into the sub-2 game or, or what have you, they don't understand the value of that 2.75 loan. That is an asset. That's probably an interest rate that we are never going to see again in my life. I mean, I hope I do, but I don't know if I'll ever see it. The only reason we got it is because the entire nation got the flu, and so the government was just like, hey, we're going to just kind of print money here and give you free money to, you know, help this pandemic because everybody's got the flu. I don't think we'll see that again. So that interest rate is worth paying a premium for. And so I think you're totally fine overpaying. If your strategy is to wholesale it, you might have a little bit of a difficulty wholesaling it just because any wholesale fee that you add on that, they're now paying more than $300,000, right? So now they're going to be paying $310,000, $320,000, and that you might have a little bit more difficulty. But again, If it's a savvy investor that knows, you know, I think that they would be okay with it still. But I would just recommend getting as long as you can on your term for that equity.

Yeah, yeah. Usually, um, I've always done it to where I, I always, um, 8 to 10-year balloon is kind of like the minimum what I look to, to like to go for.

Yeah, I, I have a hard time getting 10 years. People. I did. I did. That's so long.

I did a 2-year.

Oh, that's, that's aggressive.

That's a, that's a gamble, baby. I was rolling that dice.

I hope you, I hope you bought it deep enough to where you're okay with that.

I don't think I did, but we'll see.

Well, good luck with that. And if you want to talk about that real quick, the reason that is aggressive is because The whole reason that we have— we give them more time is so that appreciation and paying off that loan plays into our favor on those terms, right? Yeah, of course. 2 years, how much appreciation are you going to get and how much you really going to be paying down that loan?

That's right.

So I got 1 year left, boys. Yeah, if someone's only going to give me 2 years, I'm going to have to buy it deeper. Yeah.

Yeah.

So, um, cool, cool. That's the same advice. So you gotta— for this to make sense, Nate, you've gotta get, uh, a balloon that's far, far out so we can ride depreciation. And, uh, you know, I personally, I wouldn't want to keep it, so I'd probably wrap it or, uh, try to wholesale it or have someone come over. But I think when a bunch of people— when we have some buyers go through and we get some realistic offers, we can readjust the terms.

And that's what's— that's what's so great.

And that would be great.

What's that?

A wrap would be great because there's zero out of pocket, and so any sort of down payment from someone that you're seller financing it to is, is, is obviously your profit.

Yeah, and what, what's great— and guys, for those of you watching and listening, what Julius did so well is finding and qualifying the lead. Because even if I call the seller right now And even if they're like, no, there's no way that can work. Or even if we have buyers go look at it and they're like, we got to be a lot lower than that. The thing is we have motivation on our side and we know we have a qualified lead to where even if they, they think all day and night that their property's worth, uh, $330,000 or higher, they don't have any other options, you know? And so when you have a motivated seller, guys, numbers can drastically change. Real fast. So let's give, let's give the seller a call here. I don't know if she's gonna pick up. Um, she didn't text me back, so she might be busy. So let's give her a call and see if she got to chat with her husband and see what they think.

Let's do it.

At the tone, please record your message. When you finished recording, that's great.

To voicemail.

It sounded, it sounded like she was answering.

At the tone, please record your message. When you've finished recording, you may hang up or press 1 for more options.

Hey, Linda, it's Nathan Payne Payne Payne. Give me a call when you get the chance. Talk to you soon. Thanks. Bye-bye. Okay. So no answer right now. We'll see if she calls back while we're still alive.

Well, Lane, I know you got some people we can call, some leads we can call. Uh, let's get right into it. Let's, let's get some people on the phone.

So just so everybody knows, I, I, I like to do a little explanation. Difference between inbound and outbound leads. Currently my entire business is all inbound leads, and that is because I'm fronting marketing, putting marketing out there on Google PPC, Facebook ads. And so people are calling me, right? So that's an inbound lead, much better quality lead than outbound lead. Outbound lead is when you're cold calling or you're texting people just out of the blue. That's why they call it cold. Much, much colder leads, much more, you know, time to cultivate and really um, get them to the finish line. So all my, all my leads are leads that have come in, they filled out a web form, and they've said, hey, I want to sell my house, give me a call. Love it.

Yeah, so let's hear what they sound like.

Yeah, let's see it.

Let's see them embrace Lane with that love, like, oh, I've been waiting for your call.

Oh, hey Lane, any updates on that property from a few weeks ago? Um, I think it was in Florida. You really like the house?

Yeah, that lady has, uh, ghosted me. So I was supposed to call, you know, she said call me tomorrow, which was Saturday, and I called her Saturday afternoon, uh, no answer, no answer. So she's on my drip campaign. That one was a— that was a super motivated seller. She was in the right price range. And yeah, no, I had someone else got her. What's that?

Think someone else got her?

Sounds like it. That's usually what happens.

Lane, in your, um, experience, do you ever try to call from like different numbers or other stuff? Because I know you have the drip, but I don't know if like they recognize the drip or I don't know.

Well, the drip comes from the same number I originally talked to him from because it all comes from my CRM, which is the same number, and it'll A lot of times I'll call from my actual cell phone, from my cell phone number and—

Gotcha.

Yeah, see if I can do it that way. All right, this is Alicia. I'm going to call Alicia. She has a home in the state of Nevada.

So Lane, do you usually use your phone when you're calling leads or do you do it from the computer? But just on here, you do it on your phone?

On here, I do it on my phone just because it's easier. Okay, but I usually call from my computer.

Cool, cool.

Payne's trying to figure out how he wants the basement set up. Yeah, man, the new wholesaling headquarters.

It's like he's hiding stuff behind him.

That's right, that's right, guys. I've fallen on some hard times. I'm wholesaling out of the basement.

Please leave your message for It's gonna be—

guys, it's cool that I— go ahead, Nate.

I was just gonna say, guys, for, for those of you watching, I hope, you know, I called, right? No pickup. Had to call twice, leave voicemail. Lane's calling, right? You know, getting voicemails, having to follow up. You know, um, person from a couple weeks before ghosted, having to follow up. Guys, this is why you hear again and again and again and again the importance of follow-up, because I don't care how good you are, guys, this stuff happens, yo, uh, you know, no matter how good you are. So that's where the follow-up and just that sheer effort of getting on the phone with someone makes the world's difference. Because it don't matter how good I am on the phone, if I don't put in the work to get on the phone with them, I'm not going to get that many deals.

That's what I want to hear people say.

On the flip side, you could be pretty— you know, you don't have to be that great, but if you're getting people on the phone Look, you're going to get some deals.

That's why when people tell me they're scared to call, I'm like, you're in for a world of hurt if you're scared to call.

Yeah.

If you can't even call and that scares you, good luck because you got no shot. So Lane, for people that are watching, once you call and they don't answer, you throw them in that can't reach strip, right?

Yeah, they'll get a— so this one's kind of weird because I actually sent her a text before we got on this and it said, hey, you know, thanks for reaching out, I'll be calling you shortly. And she responded and said yes, she'd be available.

Yeah, I'm sure, I'm sure she'll get a callback.

You know, um, you know how places like Disney and whatnot, they now like have the AI like drone shows in like the sky? So it's all these bots.

I wonder when we're going to start mixing those into like follow-up campaigns, like a call, text, like, all right, send them out to our door, send the bot, send the bot to send the bot to spy on them, see what they're up to.

Yeah.

Okay, on to the next one then.

It's so interesting, like there's through knocking, texting, cold calling, email, all these forms of communication, even social, right? I've gotten ahold of people through social. It's like which one— there's not one that's more effective than the other really because just everyone has their different modes of communication now. Like some people like email, some people like, you know, some people don't answer their phones. So it's text, some people like text. I've done deals where I've just texted the seller the whole time and I'm like, how are they signing contracts and willing to do all this over text? But that's how they like it, right? Very interesting. Like for me, if I'm going to do business with someone, I got to get them on the phone. I got to hear their voice, see if they're real. Some people don't care.

System 304.

And guys, like again, when you're chatting with a real motivated seller, it's worth spending the time and effort. Like, you know, like he was saying, call, text, voicemail, try to find them on Facebook, send a letter, you know, a handwritten note. Do whatever it takes to get them back on the phone. Because also, remember, wholesaling, guys, we work with distressed sellers, people that are going through hard times that need help, and you are probably the only person that can help them. And so when you do find them or, or send a message on Facebook of like, oh hey, just following up, and they're like, whoa, like, don't, don't feel bad because they're like, oh, are they gonna think I'm like some creepy person because I've been calling them and texting them and finding them on Facebook? No, it's— they're gonna be thankful because you're solving a massive problem for them, and they're gonna be appreciative of it. Or they're gonna say, hey, circumstances changed, but thank you, and then life goes on.

And that's a big difference between the inbound and outbound leads, right? I mean, the outbound leads, when you are cold calling them or you know, cold texting them. They can, they can get a little, a little, a little feisty going that route.

Oh yeah.

I've—

man, I've got some.

Yeah, I've got some calls. You do? You got some crazy calls?

Oh, everything I did in my, in my previous company was all cold call. Like, yeah, 80% cold call leads. So, man, you want to talk about getting good at like having to pipe somebody down, like, like, like get them to calm down a little bit when they just open the gates firing, you know, cursing at you. I got really good at that.

You're like, sorry, I couldn't hear anything you just said, my phone was breaking up.

What?

That, that always—

what industry were you in?

What's— oh no, it was wholesaling. Yeah, so, so we had a company out in, uh, in West Michigan and, um, a bunch of cold callers. And, um, yeah, yeah, you, you come across a couple cookies that, uh, that aren't happy with you.

That's funny, dude.

Just dialing for dollars. Hello, is this Linda? Linda, my name is Lane. I am calling because you had reached out about your property that you're looking to sell. Is now a good time? It's already sold. Wow. You sold that quick. Did you get it in contract or did it—

No, the people that were living there, we did an owner finance.

You did an owner finance. Okay. All right.

Well, hey, they're taken care of.

That's all you need to know.

Thank you.

Great. Anything changes, you let us know. Oh, okay. Never mind.

That was actually so— So that's so good. I love these because there's a lot to take away from them. So guys, they— on that call, right, right off the bat, she's like, uh, it's all done. Lane didn't just hang up and get off the phone. No, we want to confirm that. Oh, okay, got it. So you already have it under contract, or it's, it's— oh, you're past the closing date. All right, again, we want to confirm because that answer can— oh, it's already taken care of, or oh, we already sold it. We might— yeah. That's a really simple answer. But guys, you know, depending on who you chat with, people have a lot of different definitions. And if you're in this business long enough, you'll know that, guys, a deal is not done until it is past the closing date, everyone signed, and the money has been funded to all the appropriate parties.

Yeah, I can't tell you how many deals I have gotten that they sold it to somebody else and it ended up falling out and it comes back around. It happens all the time. So that's why I was trying to understand with her, do you have it in contract or has it actually closed? Because if it's in contract, it's probably in contract with another wholesaler, and a lot of wholesalers don't know what they're doing and they end up asking for price reductions or canceling the contract, and then it just comes right back to you if you can have that, build that rapport with them.

And, and even owner financing, especially, guys, how many times where it's 'Oh, they're our friends. Oh yeah, they said they can do this price.' And, and then after a couple weeks or a month or two, they're like, 'Oh, they weren't able to come up with the money for the down payment,' or, you know, 'Things got, got weird with the payments' and this and that. That happens all the— I bet you she doesn't even have it, uh, they probably don't even have any kind of written agreement. She probably thinks it's a done deal because she spoke with the people, they said yes, and they have a verbal agreement. I would— that if I were If I were a betting man, that would be my bet.

I would follow up with that.

I would imagine too, because she just, she just filled out my form this morning. I mean, that lead came in today.

Yeah, yeah, for sure. I— that she, she ain't even gotten close to getting that thing done. It was interesting because we're thinking about— we're not thinking, we're moving to Canada, guys. And I called about a house that I want to buy and they're like, yeah, it's sold. It's like, what do you mean it's sold? You've listed it yesterday.

They're like, it's sold.

So like even agents out here, they don't understand the terminology. Is it under contract or is it sold? No, it's under contract, but it's firm.

Okay.

So it's not sold.

So like, just, it's like, dang, some people just don't understand.

Hello, is this Beatrice? Yes, it is. Hi Beatrice. My name is Lane. I was calling about the property that you had submitted on one of our sites on 5th Street that you're looking to sell.

Uh, yes sir.

Is now a good time?

Oh yes, it is.

Good. Well, hey, I appreciate you reaching out. What can you tell me about what you got going on there with that property?

Uh, well, it's financed through, uh, USDA, and I'm behind on the payments because, uh, my payments went up and it needs a lot of repair. And I'm just not financially able to fix it.

Okay, are you living in the property right now, Beatrice?

Yes, I am living there, but, uh, I also live with my mom about 1 or 2 days out of a week.

Okay. Okay. And Beatrice, how far behind are you on the mortgage?

About 12 months.

Okay. What is the monthly payments?

$485.

Okay. $485. So you're not too far behind. It's a couple few months, right?

Right.

Uh, yeah, I bought a used vehicle and it seemed like they're trying to get one thing fixed, something else goes wrong.

Yeah, yeah, it's kind of how it goes sometimes.

Yes.

Yeah, I understand, Beatrice. So you already have a place to move to if we were able to come and buy your home?

Uh, yes sir, I'm in the process of moving in with my mother because like I said, she's gonna be 82 in September. She needs some assistance.

Oh well, that's— that works out good. At least there's some positive in this. What is, uh, how many bedrooms and bathrooms is the home, Beatrice?

Uh, it's a small single-family home, 2-bedroom, 1-bath.

Okay, so 2-1, and you're saying that it's in, in need of a lot of repair? Like, does it need everything? Does it need a roof, AC unit?

You know, not the roof. However, they need some plumbing work done. Not, uh, a lot, just drainage problems, the water works, toilet flush. Drains, but both sinks, kitchen and bathroom, I'm having problems with the drainage.

Okay, what about the toilets?

Yeah, toilet flush is fine.

Okay, yeah, okay, that makes sense. That could just be in the, in the P-traps or in the plumbing under the sink and stuff. Have you had a plumber take a look at it?

I mean, for, uh, septic people tell me that they think it's some roots from the trees under the house causing some problem with the pipes.

Hmm, that's interesting because if your toilets drain fine, seems like that wouldn't be the problem. But I'm not a plumber, I don't know.

But that makes exactly the same here, and I just don't have the finances right now to do any kind of no investigative work.

Yeah, and you said it's a USDA loan that's in place?

Uh, yes, it's financed through USDA, a mortgage company.

Yeah, yeah, I'm very familiar with that. Um, do you know what the balance is on the loan, like the total amount that's owed?

Uh, yes, sir, I still owe $53,000, I believe, give or take.

Okay. Okay. And Beatrice, how much are you hoping to get for it? If I came in with a cash offer, bought it as is, what were you hoping to sell it for?

Actually, I just want out the contract. The government just pay it all and it comes with the land. I would be most gracious just to get off the contract.

Okay, well, let me, let me, let me give you a couple options. So our, our cash offer, our cash offer would be well below what you owe, so I don't think that would work. Um, I, I assume you don't want to write a check to close this house, right?

Well, uh, once I moved all my furniture and belongings out of it, you know, I was gonna put a sign out front to say house for sale as is. Yeah, a lot of Hispanics in my neighborhood is buying the property right now.

Gotcha. Well, I'll tell you what, our other— yeah, yeah, I think I have an option to be able to help you to save you from foreclosure. And that would be, I'll just come in and I'll take over that loan. I'll relieve you of the responsibility to make those payments every day or every month. Sorry, I will take that responsibility, but that's about all I can pay for the home. I can bring that loan current if you can, you know, maybe text me a picture of your reinstatement of the exact amount that's owed to make it brought back current. And I think I can get that done because in my opinion, the home is worth maybe a little bit more than what you owe, but not much. There's not a ton of equity in it, but you have a pretty good loan in place.

I had like 2 or 3 real estate agents to come out and evaluate it, and their opinion is that I'd be upside down in it or I suffer a loss because it needs work and the floor was made level and I feel the floor's a little offside.

Gotcha. So I think that's your— probably your best solution. And so you don't have a foreclosure on your credit, which would be, you know, stay on there for the next 7 years. Um, I can, I can come in, bring in enough cash to reinstate that loan and just take over those payments for you. Is that something that you'd be interested in? Really?

I don't understand. So obviously for free, the contract to you, correct?

I would be buying your home subject to that loan staying in place, and, and I would just, and I would just take that loan over. And then you can move over to your mom's and we can save it from foreclosure, and I make those payments every single month.

Hmm, I wasn't expecting that.

Um, what if, um, let me ask you this, Beatrice. Do you, do you know, do you know what interest rate that loan has?

Um, I have to guess. I'm not sure. I don't know. I can look at my contract.

Well, it's, it's $485 a month, right?

Yes.

Yeah. And so that's the only way that I'd be able to make this, this deal work, because you have a very low payment. And for me to go out and get a new loan, interest rates have gone up so high it would cost me a lot more money to get another loan on the home. So it's very beneficial, and that's the way that I can get this deal done is because I can leave that loan in place. And so then it would make sense for me. If I have to go out and get another loan, my payment's probably going to double or maybe even more because interest rates have doubled. And so it would cost me a lot more money. And if so, if I can, if I can leave that low payment in place, it makes the deal work for us. And to be honest with you, Beatrice, I, I don't see another way selling your home right now because just like the realtors told you, you'd be upside down because of the amount that's still owed, right? And so by leaving it in place, it makes it worth— it makes it worth it for us.

Um, I'm not sure about that one because like if y'all finish paying it off, that would improve my credit score, correct?

Well, we would bring it back current so you wouldn't have any— you would, you wouldn't have any late payments on your credit anymore because we would bring it current, right?

And then y'all gonna resell it or rent it out? I don't understand.

No, we will hold it. We'll, we'll hold it and probably keep it as a rental. Because there's not enough equity. We wouldn't make any money if we go and try and flip it with the amount of money we have to put in it and what the home is worth. It, it doesn't make any sense for someone to come in and try and do it as a flip.

Okay, well, um, how about I just, uh, sleep on it and think about it? Because like I said, I wasn't expecting that. But it does sound doable.

Honestly, Beatrice, I don't see another option.

So should I talk to the finance company about it today?

No, no, don't, no, don't, don't do that because we got to leave— we're leaving the loan in place. That loan is getting— it needs to stay in place in order for this deal to work. I have all the paperwork that is— it's ironclad. It's, it's, it's been worked on by lawyers over the years and years, and everybody's protected. It protects you, it protects me. If we, if we have to go in and pay that loan off right now, this deal doesn't work, and I don't think it'll work for anybody, and then it's going to end up going to foreclosure. Yeah, probably one more month though. It will be. Yeah. What'd you say your name was again? My name is Lane. Lane Peterson. And this is the best— this is the best number. Yeah, this number I'm calling you on.

Yeah, I kind of like the idea of it, but like I said, uh, I wasn't expecting it. I wasn't sure how that worked. So let me, uh, do I Think about it, and I will get back with you within 24 to 48 hours.

Awesome. We'll talk then, Beatrice. Thank you so much.

All right, thanks for your time.

Okay, have a good evening. Bye. You don't have another option.

Oh, she just hit us with all the pillars of motivation.

Time.

What else is there?

Condition.

Condition. I mean, you name it.

Motivation. Yep. Everything. Price.

Price. But that was, that was good. One, one thing. Well, there's a lot of things to point out. One of the things that I loved is, and I do creative the same way when talking to a seller, and this is where I see a lot of people—

Excellent job, Blaine.

Excellent.

Where they kind of go wrong with it is a lot of times I see a lot of people to where it's you guys are trying to get too technical with it. Explaining, oh, you know, it's a subject to document, here's how it works. And, you know, and just getting into all the technical stuff. And guys, the seller, like, it just loses you. And then, you know, one of the—

You lost her and you kept it really simple. So imagine if you went deep.

I was trying to keep it as simple as I could, you know, because she was just like, how does that— How does that work? How does that work? You know, you got to just got to keep it simple.

And when you have a motivated seller, like, guys, they're going to, they're going to move forward with it. And again, because like you're saying, she doesn't have another option. And so, you know, yes, we can answer a little bit more questions if it really, really comes down to it. But there really isn't a need to waste the time because either yes, she's going to do it. And then we can just move forward and I don't need to spend an hour or 2 hours explaining the ins and outs of subject to and all that stuff, or she's going to let it go to foreclosure. You know, it's—

it's her freaking realtors told her, yeah, you're going to— you're going to have to write a check to sell this house. You're upside down. I mean, there's no other—

one of the investors that I worked with back in, like, when I was brand new, what he would do is he would just buy it subject to or contract for deed. And she just wouldn't even tell him at the close. He would just do it because in situations like this where you have to buy like this or it doesn't work, you just do it. But not saying you do that everybody, but some people just, they just do it.

I actually never thought of that, but in a situation like this, I can kind of see how that would work perfectly. If I just said, hey, I'm going to take, I'm going to, I'm going to, I'm just going to take care of your loan.

And she'd be like, I'm gonna buy your house. I'm gonna take care of your problems.

I send her a contract that has the price of her loan and then you just go and do it. Interesting.

Yeah. It's interesting. Cause sometimes like, no, no offense to sometimes the people we work with, but they just don't understand and they, they get a little overwhelmed, but you're solving a problem that they're not. You're the only solution, right? Because again, she can't list it. It's not going to make sense. She doesn't have the money to flip it. This home might not even make sense. Even if you catch it up after you go look at it, it might not even make sense. Because it's so trash.

So, and here's my thoughts as I'm talking to her and she's telling me this. I mean, I'm— after somebody goes in there and puts in the money, they're probably going to be sitting in at full retail value. But what I really liked, I don't know if you guys heard, is she said it's a— there's a lot of Hispanics in that neighborhood that love to have houses in there, or that are moving, or whatever, right?

Family.

That, to me, I will wrap that house. So I will go and I will buy this thing subject to her loan, right, for $485 a month. And then I'll go sell it to— sell it on owner finance to somebody for $80,000, get $20,000 down payment, and then they pay me double what my payment is to the bank. That's what's— that's what's— that's what is— you're basically selling it on a wrap, right, with it with a subject to.

Blaine, what are your thoughts on in a call like this where we just said, hey, just do it? What, what do— are your thoughts on just like getting the process going and then when you— there's trust and you've sent people to the house and they're— she knows this is real, then being like, hey, this is how we're going to do— this is all technical stuff, but we're going to take care of you. Have you ever done that where you're just like, hey, let's just talk about that later down the line?

Uh, like, what do you mean?

I think they're not even explaining what you— we're not even explaining that.

Yeah, like, hey, right, I can pay off— I, I can, I can pay what your loan balance is and get you caught up. Let me send you the contract and get rolling.

Yeah, something like, hey, yeah, I think we can buy your house for what you owe, so you walk away and you don't owe any money. Something simple as that.

You know what, I've never done that, Nathan, and I actually want to try it. I think so do I. I think that would have worked perfect in this situation. You freaking genius, why didn't you— why didn't you speak up?

Yeah, and you know, guys, the reason— the reason why we're kind of throwing this idea back and forth is Marketing 101: a confused brain always says no. You know, a confused mind always says no. And so that's with creative where you have to be so careful and why really just trimming it down to like, what is just the simplest way I can convey this to the person, you know? And then maybe just give a little bit more, uh, crumbs here and there as needed if they're absolutely asking for it. But otherwise, especially, especially somebody like this to where they have no other option, you know? Yeah, they need you to help them.

And I'm not saying that we don't say talk about it at all. I'm just saying like trust develops as people see the process down the line. Like, we had this deal, Lane, that we were doing that we did $86K deal, but in the beginning, the seller would not have accepted, like, an upfront negotiation. Like, we had to take— it took time, and then we were able to— like, she felt the process, she saw the process, she saw buyers going through, and she was like, okay, this is real, you're going through. So anyway, if I were you in this situation, I'd call her and say, hey, look, I might have confused you a little bit. Basically, we're going to be able to take care of it so you don't have to pay anything to sell your house. I know a lot of people said those agents said you might have to owe something. We'll take care of it. Don't worry about all the legal stuff I talked about yet. We'll talk about that later, but let's just get some people over there and let's see if we can get it done. And then I'd send her a contract. That's what I would do.

But the other—

the other thing I like it, I mean, when I have good conversations like I just did with this lady, I consider that a pretty good conversation.

It was good.

And, and she's like, well, I need to sleep on it or whatever. Like, hey, that's totally fine. And when I get off, I will email them a contract so they have it in their email.

Yeah, that's good. But I'll tell you, sleep on it— for her, obviously, you know this, we all know this, she's not gonna have any more clarity in 48— 48 hours, 48 days. She just doesn't know what's going on. So it's just a confused mind. Just say, hey, 'You know what, let's just get it done. We're going to have some more investors go over. I just need you to sign this.' She'd be happy about it.

One kind of ninja trick that you threw in there was, um, did you guys notice how when he asked about the payment, right? So, so that the woman tells us, 'Yeah, I already spoke to some agents. They said I would be underwater on the property,' meaning she would have to pay money to sell her house right now. When Lane introduced— introduces the idea of subject to, he first says, he's like, yo, my guess is you probably don't want to have to write a check to sell the house, right? And you ask to confirm first because you never know what the person's gonna say. Sometimes people, especially if they've had a conversation with the agent, and the agents set their expectations to where they're thinking that they're gonna have to spend money, that seller might be in a mindset of, I just hope I don't have to spend too much money. And they might be on board with that, and you can help that seller and solve their problem. And it's like, okay, cool, like, we can make this deal work because they're willing to pay, you know, um, pay that, pay that money. And, and it's so good. Yeah, I thought it was so good that, that, um, that you asked that. That was, that was great.

That was good, Ninjas.

So I just had a lead come in, like just literally dropped in my CRM right now. This guy's name is John and he lives in Louisiana. And you know what that means. I just got the property. I just looked up the property and he has it listed. So this is an on-market lead, but he He's coming to me, right? I didn't reach out to him, so something's—

All right guys, I'm gonna let you guys wrap this up. I gotta get— That was awesome, Wayne. Great job.

Have fun in your basement with all your whatever you got going on down there.

I'm about to wash some clothes.

Oh, is this John?

Yeah, John.

Hey, my name is Lane. I'm calling you about your property on Brighton Cove that you're looking to sell.

Yes, sir.

Yeah, my, uh, manage, um, sent over your contact information and said that, uh, yeah, you're looking to sell that property. Tell me a little bit about what you got going on there.

Well, we, um, we currently have it listed on the market.

Um, I see that.

But, uh, yeah, we're trying to just sell this and get into the 4-bedroom right down the road.

Um, so, gotcha.

I just figured I would explore different options.

Yeah. So you're currently living in the property? This is your personal residence?

Yes.

Yes.

Gotcha. Yeah, it looks like a nice home. I'm looking at the pictures right now.

Oh yeah, it's got a brand new roof, brand new, um, AC unit, outside unit. It's got a brand new condenser coil on the inside, and it's, you know, good to go for a while.

Okay, great. That is good information that I was going to ask, so I'm glad you beat me to it. Um, as far as like, let's see, what year built is this property? Yeah, have you done any, done any updating since then?

Oh yeah, we've, um, updated the floors, um, and you know, the roof and the AC units.

Nice.

Okay, the roof is, um, like, I think about 2 years old. It was replaced about a year after the last— that Hurricane Ida that came through a couple years ago.

Yeah, yeah, yeah.

So the AC unit was replaced after Ida and the roof through an insurance claim.

So, gotcha. Are you looking into the home down the street? Is it just bigger and more comfortable for your family?

Yeah, that's all it is. It's just a bigger, bigger home. We have 3 small children and they just— we just need a little more room.

Gotcha. Hey, I know all about that. I got 4 of my own.

Yeah.

What, what's the situation on that house you need to buy? Like, is it on market? Do you need to move quickly on it? Or what kind of timing are you looking?

Yeah, we, um, it's through a builder called DSLB Homes. They build like I guess what you call spec homes or whatever.

Oh, gotcha, gotcha.

Yeah, we've already got a contract on that and, uh, we're set to close on it July 23rd. And, oh, it's something— it's just this, this home was built the same way through the same builder, DSLD.

Gotcha.

Um, and we, you know, we were able to pick this, the plan out, the colors, the brick, everything, you know what I mean? All the details of the house. And we did this— we're doing the same thing with that one, but we were just, um, kind of, you know, just— we just listed this one about a month ago.

Yeah. How much activity have you had on it since you've had it listed?

Um, probably about 4 different walk, you know, visits, but not a whole lot of activity other than that.

Yeah. What kind of feedback are you getting? No offers? Any, any feedback?

Um, yeah, we haven't had an offer yet, um, but the feedback we're getting is that, um, like, basically they're always like, we like your house, it was a great walk, it's, it's in our top 3. That's all they ever said.

Gotcha. Oh, and your, your realtor, your realtor, your realtor still feels like you're priced competitively?

Um, I mean, now that, you know, we had it on the market for this long at that price, uh, he feels it's probably time to move it down like $5,000 or so to $10,000, you know, kind of thing. Yeah, so we haven't done that yet, but that would be the next step.

Gotcha. Okay, well, John, let me just tell you a little bit about us. We're obviously— we're a cash buyer, you know that. You reached out to us, um, and really what we're looking for, we're looking for situations where we can, we can bring value. You know, your situation isn't the type of value we bring by rehabbing it and, you know, finishing the house, you know, redoing the whole house top to bottom to really get top value out of it, because it's a beautiful home.

Okay, you guys are looking to restore a house and sell it kind of thing?

Well, not necessarily. That, that's one option that we have, and that's one way that we bring value to the situation. Um, let me ask you this: is your new house contingent on this one selling? Like, your loan that you are getting on the new house, does this house have to sell in order to get that loan closed?

Um, no, because, uh, qualify for— you know, we— our mortgage is only like $1,000 a month on this house. Okay, we qualify for both houses actually.

Gotcha. So you don't necessarily need your cash out of this one, or are you needing your cash for the down payment on the other one, or do you already have that taken care of?

I mean, we do, but, uh, we need to move it as soon as possible to replace that, that those funds in our account kind of thing, you know what I mean? It's kind of— yeah, only savings we have really.

So, gotcha. So yeah, what is— what's the loan balance on your current home?

Um, well, yeah, we owe, uh, like $122,000 on this house. So we, you know, we're— we have a considerable amount of equity in the house, right?

Right. So how much— I'm— the reason I'm asking these questions is because there is, there is different options that people don't realize that you can sell your home, um, And, you know, if I was to come in and just pay you cash and buy it, you know, quick and easy, close it as is, not have any realtor, I'll pay all your closing costs, I'll do all of that, I mean, I'm probably going to be around, I'd say, $175,000, maybe $180,000. And I don't know if that gets it done. I don't know if that's enough or if that's the right option for you.

Well, see, that's why I called you guys, because, you know, by the time we sell our house and we have to lower it by, you know, $10,000 or $15,000 and then pay the realtors $15,000, you know what I mean? We're looking at only pocketing probably, you know, you're selling our house for $240,000, we're probably coming out $220,000. You know what I'm saying?

Right.

Because we we'd have to pay the realtor and everything else, probably come down with $5,000 for closing, all, you know what I mean? All that type deal stuff. So, you know, we were kind of looking for something around, you know, $225,000, you know, if we were going to try to sell it to someone that's doing a real— going through the real estate deal, you know, the realtor deal.

Yeah. Yeah. And I can't get there on a cash deal, but I'll tell you what I can do. There's other ways to sell your home. Like I said, my cash would probably be $175,000. Are you, are you at that point where that—

yeah, we're not. We couldn't do that.

Okay. Yeah, and I don't blame you. I don't blame you at all. I totally understand that. Instead of, instead of doing that, or instead of getting close to the closing time of your new house and whatnot, there's a couple other options that you might want to consider. You know, a thing that's, um, a really popular way of selling houses right now and buying houses is buying them with seller finance. So basically, you have a loan on this property, leave that loan in place, let me take that loan over and pay you out your equity over time. I'll come in at closing with the— with a down payment, um, a down payment that, you know, works for you, works for us, and then I pay you out the remaining equity over time. And that's what they call, you know, seller finance. I don't know if you've explored that option or not.

I'm not very familiar with that, no.

Okay, well, instead of lowering your price to get the house sold, why don't I pay you what you're asking, $250,000, and then you leave that loan in place and I pay you out your equity over time? That way you don't, you don't leave any of your equity, you know, you don't lose any of that equity. You're going to make it, it just takes a little bit more time to get it.

Um, like, how long does that take to get it?

You know, we usually, like, like I said, we can come in with a down payment. We can totally do that. Um, and if I can get this approved, you know, by my office, that, that will determine, you know, how much you guys actually need, how much we're willing to do to make the deal work. But we come in with the down payment, and, you know, the remaining equity that's left, we like to We like to have a 10-year term, and so at year 10 it's completely due and payable, but you will be receiving monthly payments along the way.

Um, I don't have to do— I just would have to do a little research into that because I don't know, like, uh, what kind of guarantees I have that will, you know, will receive the payments and all those kind of things, you know what I mean?

Right. Yeah, no, I totally understand. And people know it as, uh, subject to. So I am buying your home subject to that loan staying in place, and then the different— your equity, I'm paying you that out over time, just like I'm paying your mortgage. So what we do is we—

how do you make money off of that deal? Like, I don't understand how you make money off of that.

So the term— the terms is what is, um, attractive to us, you know, because then I can keep that property, I can keep your loan in place, which is a great loan. I can't go replace that loan today because interest rates have gone up so much. And then it makes financial sense for me because I can keep it, you know, as a long-term rental, as a short-term rental, but just as a long-term investment.

Oh, I see, like just kind of renting out. Yeah, that's, um, a lot of people are doing that in this neighborhood, you know, they've kind of, uh moved on, but they've kept the house as rental kind of thing, you know what I mean?

Yeah, yeah. The better part of selling it on seller finance is you're not a landlord. You're at— you're selling your home to me. You're, you're not responsible for any maintenance, any taxes, anything. I'm making the payments on your, on your loan. You're actually selling the home. That's, that's the difference. You're, you're not, you're not a landlord, and you get at closing, you get, you know, you get more money than if you were just being a landlord because we're going to come in with a down payment. And then you, you wipe your hands clean, just, you know, same way as you when you sell your house traditionally.

As long as I'm paying the monthly payment, the deal stays in place. Is that how it works?

Right, but I'm actually going to be making that payment, not you. I use a professional servicing company, and that servicing company services your loan. They take money right out of my account and make your payment, um, directly.

I see. Um, but the loan stays in place under my name, right?

Yep, 100%, it does.

Okay. And what— I mean, what would that— what would happen if you guys start just, you know, went insolvent or something, you know what I mean? Stop paying on the loan or—

Totally. Yeah, we have We have paperwork that's, that's been through lawyers and it protects both sides. And I can send you the paperwork and you can take a look at it. Um, but there's also different ways of doing that. We don't need to get into all those details right now, but 100%, the— all the paperwork protects both sides of that transaction. So if, if, if, if for some reason I die or my company, you know, stops operations, which That's— don't see that happening. I've been in business for 25 years. Um, if something happens, if that loan does go late, um, then that— the way the paperwork is all written out, that you can take the property back immediately.

Okay, so that's how it works.

Okay.

Um, that might be something I would consider. Can you at least send me something I could read up on that?

Um, 100%. Um, let me make sure, did you give us your email? JP Lacasio at Gmail?

That's right.

Yeah, perfect. Yeah, I'll send you what our paperwork looks like. Um, and there's all sorts of videos out there and instructional videos on— I mean, because this isn't anything new. It's been around for— I mean, it's been around for decades. People have been buying houses with creative finance and subject to, uh, for decades. And so it's not a— it's not a new thing. And in some situations, and it seems like in yours, it works a lot better because you don't have to give up a bunch of your equity because you need to sell it quick and get into your other house. Keep that equity. It just— you get paid out over time instead of taking a haircut, right?

So you're saying, um, you, you do a down payment and then you work out the rest of the payments in a matter of a certain amount of whatever agreed time is?

Yep, exactly.

And at the end of that time, what happens? Just the transfer of the house? Like, what— I'm just trying to understand what happens at the end of that.

So at the end of that, then your equity portion is 100% due in full. So for example, what's your monthly payment on your $122,000 loan?

Yeah, we only pay $1,000 a month, like $1,020, you know, with everything.

So yeah, that's right, that's what you told me. So on top of that $1,000 a month, I'm going to pay you a certain amount for the equity, for the equity that you have that you're carrying. And then at the end of, let's say, 10 years, whatever the balance is left, I owe that in full.

Okay, so it's kind of like that, and then you, you pay— do a lump sum right at the end. Okay.

Yep. Yeah, you'll get a monthly payment every single month, and then at year 10, whatever the balance is left, that is paid in. That's— yeah, that's due in full.

Okay. Yeah, so if you don't mind, send me something. I want— because I gotta talk to my wife about, you know, everything.

Yeah. Um, and, and another way, you know, we'd have to get—

talk about to make sure it's something we both want to do, you know?

100%. And another way that we do it, just if, if just if somebody else— if somebody isn't comfortable, like deeding the property to us is we can just do a contract for deed. Basically, it's a, it's a seller carry, but the, the title, the deed of the property stays in your name, and you and I have a contract for that deed. That makes people feel a little bit more comfortable, and, and we've done that, um, many, many times as well. So there's just a couple ways to structure it. The concept's the same, but there's a couple different ways to structure it to where everybody's comfortable.

Right, let's see. Yeah, if you don't mind sending me the information on that, I'll read it over, you know, just give me a couple days and look at it.

Um, 100%, yeah. And if you want me to jump on a call with you and your wife, I'd be happy to do so.

Yeah, um, you know, once I read that and think about it, because, uh You know, we need to do something, and we would like to get into the other house without prolonging the date much longer. I think we already pushed it back to, you know, middle of August. That's about as far back as we could push it, you know. Yeah, but, um, yeah, just— yeah, send that and I'll take a look at it and, um, talk again.

Awesome. You'll have it in your email here this afternoon, John.

All right, thanks a lot.

Hey, thank you. We'll talk to you soon. Bye-bye.

Nice.

I don't know, I don't know how smooth that went, but the, um, I thought, I thought it was really good.

Um, it went well, and that for me, like, that has been 80% of my experience with, with seller financing, except I would get like really into the weeds when I was inexperienced And I would like this— that one call would have been like 2 to 3 times as long for me, you know, just explaining all the different things. Um, the one thing that, that I like to do a little bit different, um, and curious is if there's a re— you know, if maybe there's a reason you choose not to. Um, I usually, you know, the one thing with the seller finance subject to, they're always like, well, hey, what happens if, you know, you stop making payments or whatnot? And I always love when they bring that question up because, yeah, what do you say? So yeah, the way I frame it is they're like, hey, so what happens if you miss a payment or whatnot? And I go, I'm like, honestly, best thing that could happen to you. And I say the reason why is because what we do is we do a 3-month performance deed. And what that means is it's a pre-signed deed by us to where if we miss one month's payment, a second month's payment, on the date the third payment is due, if we haven't made it, you don't have to go through a foreclosure process. You don't have to. You just have to take the performance deed that's pre-signed by us, bring it to the, to the county, and boom, you can have it switched back to you immediately. And the best part is I just— you get to keep the down payment. You've been making all the payments I've been making on your mortgage. And to you, That's all, all extra money in your pocket. So you're now getting this house even at a better price than, than when I bought it from you. And then depending on the situation, for most people I'm chatting with, I was like, and you're getting a house to where I just spent $20,000, $30,000, $40,000 fixing it up, and it's going to be in beautiful condition. And that's why I always tell you, I said, I said the best thing that could happen is for me to default and you to get the house.

Yeah, that's true. And I forgot to bring up the performance deed. I, like I said, I try not to get too much into the weeds, but that's a phenomenal way of doing it because that is true. A perform— and a performance deed, you could actually do a 60-day performance deed. And so people that don't know this, that it's a deed, like, you know, when you sell a house, you have a deed to that house that says you are the owner, right? And— or the title is actually— but the deed anyway. So you have that already signed, notarized, and in the seller's hand And so if you miss 2 months payment, they can just literally go and record it and they have the house back. They don't got to go through a foreclosure process. It's like a deed in lieu of foreclosure.

Yeah. Yeah. And it's like you don't need to go through foreclosure. You don't need any attorneys, nothing. You just need to, you know, drive to court and have it, have it recorded. And so that's, that's how I like to frame it. But now, man, I thought I thought that was great. They're, they're more motivated than they're letting on too, you know, that, that which is, which is good because that time frame, you know, he was kind of letting up a little bit more towards the end, but that time frame is really kind of what's eating at him.

Yeah, yeah, for sure. And did you— I mean, did I share my screen okay? Were you able to see it?

Oh, I wasn't sure if you meant for that. I didn't, I didn't put it up on screen. How— yeah, how long was it listed for?

Uh, it's been on for 50 days and he's had a price— he's had a couple price reductions. Yeah, the nice thing I did mean to do, I was just kind of poking around. It's really tough because, you know, when you're like— this is Louisiana, and Louisiana is a non-disclosure state, and those are tough to be comping when you're on the phone trying to get to the bottom of like what the value is and what are comps, because you know, Zillow, Redfin, Realtor, they don't show you what houses have closed for because it's a nondisclosure state. They don't have to. Utah is like, like the same way. And so trying to like get a value as I'm on the phone talking with them, it takes a little bit more.

I actually— this may seem really small to some people, but like sales is death by a thousand cuts. Like it's all the little things that add up. That, that a lot of people don't even notice. I love how in the beginning you had mentioned, you're like, yeah, there's this, um, yeah, it's, it's, it's a, a new kind of really popular way to sell a house nowadays. And that's how you entered that frame. And so it's— and guys, what, what that does is, is that gives you that social proof aspect of— because that's the hardest part with seller financing subject to is It's like even if you think of selling a house cash, like there's a lot, there's a lot of paperwork, there's banks, there's mortgages and all that crap. Seller financing, it's the same thing. But the difference is people really aren't that— it's not that they're nervous about the seller financing, right? There's a lot of really good answers to all of their questions and objections. What they're truly afraid of is I don't want to be the person that does something different from the group and it goes bad and I look dumb because I did something different from the group. People want to move in herds. They're scared to do something that's seen as different or unpopular or, you know, not with the herd. And so, you know, dropping like just really, really little things like that, man, it really helps, um, to where it's like, no, this is popular, it's just you might not have heard of it. It's like the new hip thing. All the kids are selling their houses this way now.

Yeah. All right, well, we're amazing, man. We're getting over on time here. Hope it was helpful to everybody, and we'll be on again next week. And also, we'll follow up on with Beatrice, see if we're gonna get that house. Yeah, I think the only exit on that thing is buy it on a subject to and sell it on a wrap.

Either that or a bulldozer. I don't know from how she's talking about it.

Yeah. Yeah, it's pretty rough.

That's awesome, Lane. For anyone that was like, oh my gosh, that's amazing, Lane, you crushed it. I've got a great lead or deal and, you know, I need you to help me with it. How can people get a hold of you?

Yeah, you can find me. I put it in the chat. H-O-V Lane, L-A-Y-N-E. You can find me on Instagram, Facebook. Just actually my Instagram. You know, it's got a link in there that we can, we can work deals together. If you have a deal you need to help getting across the finish line, you have a deal you need help selling, or you just need help, I love it. That's why I'm the HOV lane. Come jump in, let's carpool.

I love that, man. That's awesome. Awesome. Well, guys, definitely go check that out. And if you're into wholesaling or looking to get started in wholesaling, and if you want the hardest parts of wholesaling done for you, guys, go to painlessflipping.com. It's, um, yeah, it's pretty crazy. We do the hardest parts for you, so check it out. Thanks for tuning in. See you guys next week. Take care, everybody.

Thank you.