Creative Finance Behind the Scenes - In the Field of the Triple Seller Financed Renovation

In the retail spaces, I bought this building for $900,000. All 3 retail spaces were hideous. In fact, the back of this is our biggest concern. There's nothing above this, so I'm not as worried about the structural. This is just a closet off the back of the building. There's a tree that is destroying this wall here. Uh, we're gonna— and this wall starts 4 feet underground. This will be some structural. Uh, we'll get that tree removed, of course, get the wall pushed back out. There's going to be excavators and the whole 9 yards. That's going to be unfortunately expensive, but part of our originally projected budget. We haven't started flooring in here, but we're just about to. But if you guys saw this originally, this place was just absolutely trashed. Big retail space. We've apparently had almost 20 people come by and ask when this is going to be available so we can start leasing. So we're getting businesses like bakeries, laundromats, and the like are all asking like, hey, when's the space going available? Because we want to lease it. This is core downtown. I'll show you guys where we're at, but it's about the coolest thing in the world. So this is one of two mixed-use buildings. I also own the building next door right there. So we're buying the entire block, revitalizing downtown Ephrata, Washington, but one of my favorite areas. So you're right here on the main street and this is where all the, all the fun happens in small town America. The best coffee shop right over there. Speaking of, surprise guest, it looks like Cody Davis, my original business partner, is crossing the street. This is an unscripted wild sighting of the one and only Cody Davis. Hello. Hello. We're shooting YouTube. Cody, welcome to the channel. Hi. That you used to own. Yeah. We're here. Property neighbors. I own right over there. There we go. Cody has down the street. I have this side of the street. Neither of us are buying the next door hotel because it's absolutely garbage, but we're revitalizing downtown. This is my project. The one right across the street is your 5-plex? 9-plex. Oh, the 9-plex. You have too many things to track, dude. Something like that. So you got a 9. We got the 9 here. What is the— what's the mix of your 9? I've got a bunch of one beds. I got some two beds and a three bed, two and a half bath. That's not that bad. Not half bad. There we go. Downtown Ephrata, Washington. Welcome to the Bell. Run you guys through this unit really quick. Here's the flooring we're putting in all across all these units, but they are about to come online here faster, faster than I imagined that they could. It's better than it used to be. Yes, uh, a lot better. Uh, there was leaks, floods, missing floors, walls falling apart. This was an old bail bonds room. Nasty. Let's pop upstairs. Still a construction zone here. If you guys are like, what the heck is going on here? Yeah, look at that nastiness. Gross. But we're getting the retail done downstairs, the upstairs getting all rent ready. We'll be redoing all these floorings, painting the walls. Coming in here is what we're working on upstairs. Hey, how's it going? New flooring's in, bathroom's coming in. This was the absolutely destroyed unit upstairs. It's big, It's awesome. When I was talking earlier back at the 12-plex, same paint, same floors, same model. This one will look almost just like that, but way cooler layout. You can come on in. These windows will be replaced. You can look right out over the street there into downtown, out of the grain silos. Our extra cabinets and holes in the wall have already been patched. You actually are ending up with a pretty cool large space upstairs. This is right above that retail we were just at. Thank you. Reno projects 101: start with safety, switch to habitability, then get the aesthetic. This will look beautiful at some point. And we're in the only unit that we're not doing yet. This one is a bit of a hazard. I've been warned to watch where I am filming because there are multiple places I may fall through the floor. So we're going to try to be careful here. Here's the major, major stuff we're working on. There is an electric box behind me. I'm not going to film it too closely right there because there's some things wrong with it and I don't want anyone coming back to me saying, oh, wait a second, we got to inspect this. I'm going to get it fixed but I just want to make sure I get to do it all on my terms. There's a spot I don't want to fall through. This is the worst of the retail space. We're gonna get the other two online first, get every other unit done. This is how I do most of my projects. I put three tiers of project. I go, hey, we can quickly get this turned online. Hey, we have medium renovation. We got to get this worked on. We can get this live. And we have stuff that this is a huge freaking project. Well, this here is a huge freaking project. Actually, there's some nails sticking out of the floor here, so I'm stepping gingerly, but we have a completely beat-up unit. There's places where this is flooded. In fact, the active flood was fixed today. There's the— there's our flood bucket down below, and that's where the water was coming from. You still got mold in the walls over here. The whole thing is just kind of a disaster. This will be the most expensive one. When our investors first walked through, they were pretty darn nervous about this. But the way the other ones are coming out, even if the space never came online, we still make a ton of money. Uh, we'll get this one renovated after everything else is online, leased, ready to rock. By the way, these are all seller financed, which means I didn't actually put any money down on these, and there were no banks involved. If you also want to buy properties like this, nice units for great people, and make a profit doing so, we have a free school community. The link is below. You can join that and get connected with thousands of other investors, buy your first deal completely for free. The education's free, the community's free, is there for you. We'll even include a free calculator for you. Click the link below, join the school community. I'll see you there. Got one more unit available. We are just starting the reno on this one. This one has a funky layout. Well, the other one looks just absolutely beautiful. Countertops are getting ready to go in here, so we have these old beat-up ones. We're fixing that, but got new fridge in, appliances are getting updated. Uh, we got a new heater in the wall there, which these units are so inexpensive and they're really functional. I've loved those. I put those in all of our hotel conversions. Come into the bedroom. This is the weirdest thing I've ever seen. I don't know why there's a random window to the kind of bedroom. This isn't a legal bedroom. There's no egress, uh, so this is still technically a studio. If it's going to be a studio either way, this is obviously not a load-bearing wall. There's no studs going through it, as you can see. I want to take this whole thing out, just open up the space. It's going to look a hundred times better. All right, we had to move out. My team just came in. I haven't gone into this unit yet. This guy had a bunch of dogs. I can smell the pee from out here, so I expect this to be very bad. Let's check it out. All right. Ooh, it is, uh, it is stinky. That bathroom— I can hear water running. That's looking a little gross, but it's actually not as bad as I thought it would be. Let's take a look. All right, that's what we got. His bed was over there. Uh, this is not as bad as I thought it would be. I mean, it is gross, but cleaning gross is not hard. I'm not seeing a whole lot of major damage. I'm seeing a lot of flooring that needs to be redone, walls that need to be repainted, uh, some electrical. Kitchen, we just rip these things out. There's no point in trying to salvage them. I hate this galley style thing where you have like no space. I think I think we do an L in the back so it goes around like that, move the stove over here, and this will just be a much more functional kitchen. But okay, I was expecting this to be terrible. This was way less dramatic. I apologize, YouTube, we'll do better next time. This is exciting. I shared this space about to be rented in our last video here for the Triple Creative Finance deal. This is what it turned out like. We just got it finished. The new floors are in. This place is absolutely huge. Got new windows, new blinds. The kitchen— check out this reno. I love this. So we had this ugly stone veneer stuff. We ended up being able to paint over it. I wasn't sure how it'd turn out. I actually kind of love it. It has a really cool texture here. Countertops— we went with the standard high-end LVP countertops we like to do. Contractors did my least favorite thing. We got a white fridge, we got a white microwave, stainless steel stove. Guys, just make these things match. That's It's the attention to detail that matters. Everything else in here, really happy with though. We're not going to, you know, they're all nice, we won't replace them, but is what it is. Uh, redid the pantry, so got this done. We're able to salvage the countertops in here. We got a full pantry. This is part of our affordable project, so downtown right across City Hall. We talk about entry-level housing, this is what I'm talking about. Cruise in, replace front doors, painted the doors gray, which is not something I usually do. I just decided to try something something new, see how we liked it. Master bedroom right here has full vanity countertop situation right here off the master. Uh, we were going to not do the bathroom reno. We're gonna try to salvage the old tub, is from the like 1960s, it's this giant odd colored tub. Made the decision to just go ahead and replace, so we have really a nice but standard setup here for the shower. Countertops— this all matches the kitchen, all soft-close, my favorite. Kept this cool texture here on the wall. And I found something, I'm really glad they didn't rip this out, this is super cool. So we're in the final bedroom, it's right here off the bathroom. Kind of weird you have to go to the master to get to the final bedroom. It is a legal bedroom, it is also super small. Check this thing out, I can get this in here. This is a thermostat. Look at that, you have an actual like mercury thermometer and you have this dial on the bottom for temperature. Now this isn't hooked up to anything anymore, this is a, this is a dead thing, but dude, I want to take this off and put this in my house. This is a cool old piece of hardware. We switched to electric baseboard heating in this one, so we have brand new heating wired in down there, good to go. But this is one of my favorite rentals. This place is absolutely huge, it's about a little over 2,000 square feet, is one of the nicer units in our portfolio here in Ephrata and a great standard for how we're going to do the rest of the renovations in this building.