Deal Hunter 052226

Good morning and welcome to The Deal Room Live, the daily real estate deal tank powered by Titan Impact Group, a global leader in AI-driven real estate investing and funding, where the real estate world meets speed, precision, and profit. And bring us your deal so we can put it into our AI model that analyzes and structures real estate deals in minutes, generates all the docs you need to get the deal done, and gives you a verified, unbiased breakdown of due diligence reports. The investors get the advantage of getting fully vetted AI-analyzed deals that cut their due diligence time down by 60%.

So you're in the right place.

Let's the deal room now and get into today's— Good morning.

Good morning. How are you? We missed you.

Are you at home? What are you doing?

I'm currently at home right now. Just give me one second. Just tidying up my room real quick. I was planning on joining yesterday, but I was at a friend's graduation and then we got pulled into brunch. So I was up in Long Beach almost the entire time, though. Unfortunately, I wasn't able to join, but I couldn't miss out on my friend's graduation.

That's good. That's good.

It's my Auntie Barb's birthday today, or would have been. So Kelsey, Tommy, Mohammed and Skyler.

That's it.

So somebody named Skyler, Mohammed, Tommy, and Kelsey. That's all who has eyes.

We're good there. We're good there. We're good there.

Okay, we are all feeling like I think we have a case of dragon ass.

All right, so what we got going on, we're gonna do a real estate deal debate. We got a lot of stuff going on. Can you put your mic— what happened? Your mic, does it sound better up there?

And today is Happy Adoption Day. 19 years ago today, I officially became a parent according to the government.

We outsourced it.

I outsourced the acquisition.

Did a wholesale. You wholesaled it and sold a lot of equity on that deal.

That's where you get your kids, at wholesale.

I acquired children. I didn't have them. I just acquired them.

Well, it's difficult getting anything this way. Oh, I'm gonna move over there.

What?

Anyway. Trying not to laugh. Don't worry, Blake. Nobody's going to hurt you. You're over there, buddy.

Okay, Blake, we are live so you can share on all the things. Katya is not here because David is having surgery. So we'll miss it on all LinkedIn things. Okay.

Okay.

So what would you like me to do?

So I want to have demonstration this morning. Let's get, let's get that contract from Michelle. Over at Pioneer Title, down off of the email, download it into the, into the place. Oh, by the way, Deal Hunter is on GPT along with some several other large companies like Expedia, Zillow, Canva. Okay. So let people understand like what Deal Hunter is. I'm the same, we're in the same marketplace with those other, with those other apps. The artwork behind your head is tripping me out. That's the one you want to download. It's like all of a sudden your head morphs into a giant, giant Sculpture like that. And you go Marge Simpson. There you go, Blake.

Marge had blue hair.

There you go. Let's get, let's get that one on Catherine's background. Everybody switch the Blake's. We're not doing this dumb solo one with the cactuses and stuff.

Well, I tried to update it in Zoom and it says it's there, but I can't like pull it up.

Okay.

So share.

And you're going to go start a, start a new chat in Deal Hunter and upload those documents to it.

Deal Hunter. Here comes cute little Alyssa.

Hi honey.

How are you?

Good morning. You look super cute today. Call you back. All right.

But Haley Carr is watching on Facebook. Welcome, Haley.

Okay.

Come over to Zoom if you want to play in the Shark Tank.

Blake will put the link in the chat for you.

Blake's gonna put the link in the chat.

Okay. So they're up.

And so you put that document in there.

Yep.

What do I have to do? Let me know. We want to have you review this for sale by owner contract so we can start putting it together on a couple of projects. And so basically what we did here this morning— good morning. What we did here is we put together a couple deals over the last 3 days, because typically during our podcast time, we're talking to you guys and then the rest of the time we're doing deals. And so the last 3 days of doing the webinar, we had a lot of deals still to do, right? So you've seen us getting up, running, and going, but this is, this is what it was all culminating around. So I'm getting a couple of the properties ready to put under acquisition and we're going to walk through and see if Deal Hunter can do that with us. So what does it say?

What does it say?

Like, can you just review the Review.

Do you want me to read it?

Yes, please. Goodness. Let's review it with the people. We put a physical contract in there and we're getting it to learn how to do it. Can you explain that or no? I'm feeling brain dead today. Oh my goodness.

Key investor review. So what matters most?

Well, again, weakness, weakness, 100 words. Right. If you're not able to do it, I'll do it. So I can't, I can't do two things at once. So I'm trying to get the deal pulled forward. So can you do the deal pull forward? Okay.

Where is that?

I'll tell it to you. Okay. You got to start a new chat.

Oh, a new one?

This is in Deal Hunter.

I just, well, I don't know. I need to, I need to be able to coordinate and go back and forth. So it's, I want to review the deal and fill out the deal and show people how to do an acquisition with Deal Hunter, but I need, I need to know that you can operate Deal Hunter. Okay. So when we load the contract in there, can we talk to people through it? Sure. This is a contract. This is how we teach. I'm trying to demonstrate Deal Hunter.

Got it.

Okay.

So just so everybody catches up where we're at, we go to the GPT store and in the GPT store, we pull up Deal Hunter by Land Shark. I uploaded the FSBO. Who knows what FSBO means? Anybody? What's FSBO other than Laura? Blake, Alyssa, do FSBO mean?

Is it for sale by owner?

There you go. There's a more— sale by owner. So yes, that's exactly what it means. And so for sale by owner means that there's no realtor involved. And so we have the contract, we got it from the title company. Title companies typically who are investor-friendly have all this stuff and they know how to do all this stuff and they're really great about it. So we uploaded the contract. So key investor review, what matters most, the biggest strengths, the biggest weaknesses, what needs to be fixed for the addendum, and then earnest money release risk, due-on-sale exposure. So if we're doing sub-2s or wraps or existing lien takeovers, Maura, really quick, do you want to quickly give a quick lesson or a quick explanation on subject-to, wrap, and existing takeovers? What those are? I know you've been taking all the classes.

I have been taking all the classes, but I don't have the full definition to explain.

No worries. So subject-to is where essentially we're taking over their mortgage and then wraps are— hang on, though, subject-to. So, okay, then you, then you say it.

So a subject, subject to your, it's not taking over. The loan is going to remain in the borrower's name. You're going to take over payments, but it's not an assumption of loan. It generally, the biggest concern, which generally doesn't happen, is the due-on-sale clause. But as long as the bank is getting paid, they mostly don't care who's paying the loan. So it would be an opportunity. Catherine owned a house and she wanted to sell it and was willing to have me come in and have it be subject to. So the loan would stay in her name. I would take over making the payments. She would— it's usually done through a third party, a title company or whatever to ensure that, but it is a creative financing vehicle. If you're not able to, if I was as the buyer, not able to qualify for my own mortgage or didn't want it, but like there's a lot of reasons for subject to, but it's, you're taking over the payment of it, which is distinct from assuming the loan, which I think it's the third one.

I'm going to do one of those today. So that's why I asked Katherine to put that in there, trying to prep one of the properties in order to get that going. I got another one that we're going to, we're going to do, and I'll prep through that after we get cooking. Amor had a property that she wanted to look at this morning as well. Amor, do you have yours?

Let me pull it up. I'm trying to pull it up.

Why don't you get that ready to go? Let us know when it's ready. And what we're going to do now is we're going to, we're going to get this one cooking and then we're just going to start rolling through our deals today. So let's go, Katherine, go over to a new conversation there. No, that would be a deal hunter. It's in the conversations right there, property deal snapshot. And so this is the broker that we're looking at. Let's go up to the top there to show you. Here's the address. So let's do this. Let's drop that Facebook contract in here and dictate to it. With the information you have in this chat, we'd like you to start filling out this contract for us. Go line by line. The buyers of this property are going to be Summit Equity, LLC, located in— Summit Equity is a Delaware company and their location, mailing address is 13119 104th Place, Scottsdale, Arizona 85260. Go ahead and review the contract and then ask any questions you think are necessary to finalize the contract for us. And so now it's got the contract and it's got the prompt. It should be able to complete that project. While it's doing that, let's go look at another property. This one is in the same area. It's called the Outback RV Park, and we're going to go to Deal Hunter right there. We're going to tell it the address 73026— hold on, hold on. We need some public record information on property 73026 US 60, Glendon, Arizona 85357. This is a an RV park that we are going to be doing a subject-to acquisition on. The hard money loan is going to stay current and in place with the owner of record. So we want to find out who the current owner is on that.

Want me to go back to the other deal snapshot?

And I have mine whenever you're ready.

And so go ahead and let's pull up Amor's and take a look at that.

Okay. I already fed in the like numbers he sent us, but I don't think you got to see. Oh, wait. Sharing.

Oh, this is the RV park out in Quartzsite, right?

Yes.

So did he ever get back to us with some terms or whatever?

I put— and I put that in here. Okay, so I added in on a sheet what he sent us. Let me go back to it from his like tax documents. Okay, let me just see where it starts though, the tax document part that I put in here. Oh, there. Okay. All right, these were the financials I put in that he gave me.

What does it say there? A little bit. It says that this is worth a deeper dive right there. Go down the headline right there. But don't move until the numbers are reconciled. So we reconciled the numbers and came out with what? Okay, the BSCR possibly has a 3.44. Great, that sounds very high based on the fact that— is this what is using as terms? Okay, you know, they make 54 Then I put in their tax return.

So like, this is what they're saying, showing a net rental for whatever the tax return shows. This, get the deal, terms immediately, ask the price, all of that. So then I went back in and told it, because I guess it forgot that I had told it the price or whatever. Okay. So it gave me the option. Then I went back in and I said, they told us they're willing to do seller finance. We would need to put down $60,000 to 1 $120,000, and this is what it said.

So they took $120,000, is that 20%? That would be useful for us.

And it says don't offer $120,000.

It also shows here that the higher down, the better the terms. So we'll get a month. So we could do a holdback in that regard. You got the $120,000 down only with protecting seller's easement or credits unresolved with stairs and code issues. So anything that pops up, they take that off the contract. So if we go out there and we fix put $100,000 into it because it's all jacked up. That seller note goes from 5.1% to 4.1%. Um, where are you going to know what that service number is? So based on, if they're making $54,000 before, then $35,000 is awesome. Right? So I like what the example is down there, performance-based down payment.

So this, right? And then I told it the purchase price, all of that.

So cap rate's around 9%. So a more achievable cap rate is closer as well. Again, when we ran the comps out there, they're going for $450,000. So at $650,000, he's overpriced, right? He may not know it because he's a fire chief and all that.

So which— oh my goodness, Katherine, I don't know. I was like, Tommy—

Katherine ain't heard this story. You want to tell it?

Yes. Well, we're on the call. Everything is going great. Tommy is like, hey, we just want to make this a win-win. We want to support you to make sure you get what you need, all that. He's a fire captain. And then Tommy says something about— oh, he said, I know everything that you're doing sometimes. Oh, as a— what did you call— well, we didn't know quite that he was a captain yet, but as your job and all of that, numbers— what did you say?

I'll say it like I did, man. You can just do the reaction. I said that reading the thing, it says First Responder LLC. I've seen that. I told them that I'm retired nurse paramedic. I appreciate what they're doing. They're in the fire brigade and all that. That's great. And so I said, but at the end of the day, we need the financials to make sense. So I can't have them done by a firefighter.

That's what he said. And he was like, I am a chief.

I am a chief of firefighters out here, which means that the numbers are even dumber now. But I didn't—

my amor, so And say, did not say that. Don't say that.

I did not say that the numbers were worse now that he was declaring he's smarter.

Like, yes. And I'm sure you're like very busy.

You're just a, you're just a construction worker. And the construction worker goes, I've got a PhD in construction. Well, then you're a bigger dumbass. That's all that means to me. But if you make a mistake and then you tell me you're greater than your mistake level.

Oh my goodness. I was like, oh my goodness.

Your mistake should be like higher.

I said, thank you. I'm sure you have a lot on your plate. Totally understand.

A moor is the sweet tooth that I am as an artist. So that's all I can say.

So this is why, again, not your genius, not your job. We let the people who have the certain geniuses have their genius, like being kind, being helpful.

Garden shovels. And then there's moors and garden shovels plants beautiful flowers. When it comes to demolition, I was like, oh my goodness.

Okay.

Anyway, so when it comes to relationship building, we need the garden shovel. Not the sledgehammer. Sledgehammers do not build relationships.

No, so that's where that's at. So looking at this, so did they ever confirm they take $120,000 down and we could play games or what?

Yes, he said he'll take $60,000 to $120,000 down on the phone call.

But did he say that after the fact?

He said he's ready to talk whenever we're ready to talk.

He's available right now, and if he is, then we can, we can jump into that hoop this morning and see what we can come up with.

Okay. All right. I'll find out.

All right. Let's jump back over to the other deal while we're doing that. Balak, you've been playing college boy too much. You don't have any deals, do you?

I have a deal.

Oh, yay!

I found another car wash that I think will be a little bit better than that other one that I found.

Run that thing up. Let's get that. Let's get that on the table.

All right. I will throw it up. I was trying to get more information about it. I attached you to an email last week and I haven't heard back from them, so I probably have to give them a call. I was just trying to see what their numbers were, but essentially let me share my screen. This is the property. It's just a smaller express car wash that they have. It's selling for $700,000. It has a two-lane entrance and it's in Phoenix. It's right on a corner as well. So it's right next to a Shell gas station and then it just has—

You guys are welcome to join us. You're here for the mastermind, right? Good. Bring up— So hold on, you guys. Bring up just like they have spring seer, little, little, grab a little table. You each get one and with the tall chairs and then we're going to be here. So, hi, I'm Catherine. Hi.

Sorry.

What's your name? Emil. Yep. Excited to have you guys here. And so we've got people from across the country here from California all the way to Florida, Washington, and Everywhere in between, we have Canadians jump on and a Mexican that jumps on. And so this is Land Shark Mastermind. And so we are collapsing timelines and adding commas to bank accounts, and we use AI, and we're literally training everybody to do this. So this tells you a little bit more about all the things, and excited to have you here. Robert and I had an amazing conversation yesterday, so I love that we're taking action immediately, right? So this is fabulous. Okay, so Blake, who's in California, a college student doing extraordinary things. And so he is bringing up a deal that he's using our AIs with. And so he's going to walk us through it. Okay, go ahead, Blake.

Can you— oh, you see my screen?

Oh yeah. Put that to 140.

Oh, I was just throwing in random numbers. I haven't used this before because I just created a CREXi account.

Oh, you did create one?

I did. No, it was free. I can, I'll mess with that later because we have other ones. So essentially the deal, it's a smaller car wash compared to the other one.

And what was that?

I believe it did. I'm trying to remember what it was off the top of my head.

That's all right. We can find that deal on there and find it.

I'm pretty sure it's going to post it. I think it was a little bit higher, but just say it was here. So it's a smaller lot and it's only $100,000 that they're asking for. It was built in 2021. But it also has a billboard attached to it that they're saying can actually create income or revenue. So the biggest thing for it is it doesn't have any like reports of how much it can make based off one-time washes and then the revenue or for their memberships. So it's just assuming a lot of this information. I have a lot more of a deeper dive. And then talks about our NOI just based off the cars per day. This all is basic information. I chatted with it for a good amount. Just talks about the numbers. But one thing that stood out was down over here. Is the DSCR. If we can start out DSCR, the DSCR jumps up a good amount just because of how many cars we have. But this is also doing it at an average of $12 a watch, which is not what's the actual feasibility in Phoenix for right now. Since this isn't Phoenix, though, talks about how we can market it and then also finance.

Well, a lot of people don't know, but something amazing just happened the other day in SBA. They went to 10 months.

Really? Okay. So explain why that's a big deal.

Currently, SBA 507, 504A typically stop and cap capped small businesses at $5 million. So if you're, if your business was generating $5 million of revenue, you get $5 million of SBA. Now, and that cuts you off because like our subject company, small business, right? How much is it?

$10 million?

$12 million? So how the hell am I going to go get, I got to go get 2.25 SBAs. It's like ridiculous just to get that small business, right? They upped it to $10 million. Right. Amazing part about the SBA going to $10 million now. Is that you can buy stuff like what we're doing and get a bigger property going. That door's open. That's what it is.

I'm like, why does your—

in a freaking video— somebody left it open again. I think it's the freaking crazy lady that's here the other day. I can go around and close it. No, it'll come.

Somebody keeps unlocking it.

Anyway, all right, great. That looks pretty good, man. Like, now what we probably need to do is get on the phone with them, see what they want to do there. The cobblestone right there, it says cobblestone. This is their—

it's not the competitor prices because online line, they don't really show their own pricing.

Right. So I actually know the guy that ran Cobblestone and 3 Minute, and then 3 Minute became what's called Dash. And so he was the CFO of the guy I know, which is the COO and CFO over there at Dash and over at Cobblestone. So we can like get, we can get a due diligence run through with him. We'd come and look at it for sure. So, but the membership thing is huge. It should have a membership thing there. I believe that they do.

I'm sure.

It can get built out. So, but this looks like a pretty decent setup. And again, you're trying to just get people to come and use your water because the water there is the cheapest thing. You're getting your water for like 6 cents a gallon or less.

Which isn't bad at all. But like, I think another thing too, to make it even stand out is allowing it to have like ceramic coating for the Arizona heat and how harsh it is. And then also even like having referrals to other shops, either that be trim repair for a car or even like window tinting, just having that different streams over there as well. And then small little upsells, like it was mentioning. So there can be multiple different streams where we don't have to physically do the labor on site. We can send referrals.

Different stops, right? So I like it, I like it. So let's go over to the words behind the wheel here. Tina, good morning. We did not get enough time, Tina time. I think Tina had 2 minutes to talk today. Tina's 2 minutes to talk. That's the new thing.

What are we doing? So good to see you.

You guys too.

What are we looking at?

Tina talking.

Okay.

Oh, I'm talking.

Well, you were not available to download with us yesterday about the 3-day seminar, and I would love to know from the one and only participant through the entire event what she thought about— because everybody else, believe it or not, stayed attendees, and so they just stayed down in the audience and didn't come up and play with it. And so we appreciate you being there. We want to know what can we do to make your experience better and more enjoyable during the presentation, during the conference that you guys held. Did you get— was there value for you? Did you find— did you find some nuggets that you're able to apply and And if not, what can we do for next time to make sure people like you do find those nuggets?

I feel like I grabbed a ton of nuggets out of it. I love learning about the Opportunity Zones. That's, that was, there's some new content there for me. I haven't done those before. Learning about all of the opportunities to, for me, I want to invest. I want to make an impact. I love the impact investments. And so, um, my right now I'm just looking for places to put money that I pulled out of my 401 and know how to do it in a way that I'm comfortable with the due diligence level. And so that's where I was focusing on getting a lot of content, which there's a ton and there are many different options available. And then obviously all of the cool features that you guys are building into Land Shark and Titan and opportunities to get together in person, I think are great. So there was a ton of information. It was a lot of information to take in.

But for me, what I was targeting, I don't know everybody else, when I And certainly I want to help you get into that impact investing that you're wanting to do so we can continue to grow ideas that you have. I remember we ran the Boom property and talked about that, which was amazing. And so we want to see where you're headed next with Boom. Is Boom going to be something that you continue to pursue, or are you going to look into how we can do opportunity zones and maybe sponsor an opportunity zone? Because again, you don't necessarily have to be the investor to an opportunity zone. You can actually create one and then get the investors, right? And that was something that I didn't really touch on much yesterday was like, sometimes we need sponsors more than we need investors. Right. They're there. Right. We need people that want to take on that responsibility of finding the deal, putting it together and getting the investors in the right spot at the right time.

I actually went out onto the Iowa's Opportunity Zone website just to see right after that meeting. And the funny thing was I was driving. I was having a meeting with a woman regarding Boone. In a project that she had done in a local, a small rural community near where I grew up. And I'd parked out on a gravel road, just driving around, looking at the land around there. Drove by an art KOA RV park. I don't know if you guys are familiar with the KOAs.

I got a KOA right down the street from the one we're about to do right now.

It was super cute. Like they had it, it was just really cute. I had no idea it was there. Ended up on a dead end road and I ended up, I got stopped by the police. They came out there and they're like, what are you doing? I'm like, Just driving and getting lost, just looking for some opportunity zones.

That's hilarious.

Oh, I see you coming on.

They're like, you're just sitting in the middle of the road. I'm like, nobody's here except for you and me.

That's funny.

We're glad that you came in and hung out with us for 3 days. So, so we're glad that you're actually a part of the Land Shark Mastermind as well and share every day. So we appreciate that. So let's see if we can get something fired up for you as well and continue to grow that community out there in Iowa. Have a flip.

I might say this too, Tommy, my son's working with a friend of his. They're looking at flipping a house here in Des Moines. And so I said, okay, well, I'll consider looking at it from maybe I can be a lender on the property, just, but I need to know your numbers. And so I asked him for the address. I don't have pictures yet, but I threw it into the free estimator. To see what it would come back with. And I wanted to throw it into the Landshark to have it give me— it was built in 1907. Now, they did tell Layden and Dalton, the woman, the older woman that was living in the home and needing to move, told them in secret that she thinks she hears her husband say her name. And other people feel like they have heard people speaking and footsteps. And so she's like, I don't want to scare you, but just in case you're here working alone, maybe you might hear someone saying your name.

That's it.

That's, I don't know what I believe about that, but if it is real, like you need to consider that for resale value, maybe.

I bought a haunted house one time and I kept it that way, like literally. And I didn't do anything with it but keep it creepy and disgusting. And then in October I sold tickets, $25 a head, and I didn't do anything in it. I just literally left it as is and let people walk through it for $25. There was nobody.

People love scary things.

I was like, Oh, they will tonight in your dreams though. And they were like, this is real on it. Not one of those fake spooky spook houses. We're out here. They're like just looking around. We're like, this place is empty. There ain't nothing at all. But we told you this was scary. You came in here with good conscience because only I'm trying to find people that are able to take the spirits with them.

Wow. I said we might need to bring some sage leaves in and burn them and I don't know. Okay. So that's where I am, but thanks for including me. I loved it. It was fun, wonderful information, and I've got a ton to go off of. So just stay involved, see where we can go, where I can help out and be involved too. Let me know.

I will do it. So appreciate that. Katherine, do you have— can you pull now up our deal on 2nd Street? Let's take a look at it. And for more, it's over there on the phone, give us thumbs up or whatever. So here we go. The contract start— this is a draft of it. So let me take a look at it. So fill line by line, fill status. So on line 1, it needs seller name, marital status, mailing address, email, phone. So we've got to get all that. Buyer information's right there. And we've got the real estate agent info, which is going to remain blank. We don't have one. Property information on page 2, fill that in. So brief legal description, we can get that from the title commitment. Property type, it appears that it's a mobile home. So it has— he believes it has a fixture status, but we'll have to double-check. The close of escrow date, we're going to try to close on this deal probably no later than May 30th or even like June 5th, maybe. So we'll add that in. Sales price. We're on this one. This one, we're just doing an assumption of the— so it's like, we're just assuming the property, we're taking it over. So the sale price is like $10,000 earnest money, zero, stuff like that. New loan with financial institution? Not yet. So there's no seller carryback financing. It'll just say that we're assuming the loan right there. Assume assumption of existing lien right there. So we'll do that on page 5 and 6. Okay, cool.

So literally, here's what I love about this is that we could literally either take a screenshot or go line by line and tell it exactly what we want, and it'll literally fill out the entire form for us the way it needs to be filled out. Like, that's how brilliant this is. It takes all the guesswork out. Okay, so what do you want to do now?

So I think what we can do now is we can tell it to go ahead and put together a list of all the all the questions that we need to answer and we'll run through those verbally. And then we'd like to get a breakdown of this and put into a Canvas. So go ahead and start with the list of questions so we can answer those. Amor, did you talk with your guy?

No, he didn't answer. I sent him a text.

Okay. So it should say here, there's our list of questions. And so this is something that can be put together. We'll go through line by line. And once we have this information, we can go through and give it to it. And then what it'll do is it'll put it into, you have Okay, cool.

So I'm sorry. So Laura's our transaction coordinator. So once this all gets started and she has all the information, we can send this to her and then she'll be able to fill out the form. We get it over to title and we move all the balls forward. So it used to take hours and hours, literally can take just a few minutes. So it's asking all the great questions.

And so that's what we like to do is we like to get it to interview. Us, like we can't expect it to be the smartest. So it'll interview us, get the information, and compute it back out. Right. And so that's the best part about that. So over here in property owner lookup, so this was the RV park. Let's see what it says. Shows here that that's public record is Richard Stevenson owns the RV park right there. And so we're going to do the same thing here, but all we're doing here is we're changing it from the ownership of Rick Stevenson over to the ownership of the Outback RV Resort. And Rick is part owner. Right. And so this is where we're actually, uh, it's going to be a subject-to loan again, staying in Rick's name because he's got a balloon payment on it, about $300,000, $400,000. So that's going to stay there. And then we're going to take over the payment form on it and move forward. The one on 2nd Street, we're actually buying it at zero money down because we're assuming the loan. We're not taking it over subject-to, the loan's coming into our name. And so we'll be doing a loan assumption and then a subject-to where the loan stays with Rick. Anybody have questions about that? About Amor, can raise your hand. So she—

did we lose Blake?

Where you at? You go. Okay. All right, so all the colors that they're out here. All right, so he was running the deal. I was waiting for him to come back or something on that, right? Or no? All right, so Amor, we're gonna wait to hear from the firefighters.

Yes, the fire chief.

Let's give them all the kudos. Possibly. Well, egos are so gentle. See, here's the thing. I told him I was a paramedic because I knew if I told him I was an ER nurse, we would have fought like right there. That's like, that's like, you would have heard the swords unsheathe and it would have been a sword fight right there in front of you. So I actually prohibited that fight from breaking out because I kept my ER credentials. Like, I don't have the micro ego that a firefighter has, so I just kept it under control. It's okay. Neither hero's safe. It's all good.

It's like the ongoing fight between— what are those two families?

Police and firefighters in LA?

That totally is how this sounds. Like, why are we still fighting? I don't know. Cause we've been fighting for decades.

Yeah. That's how it works. So long story short, if they, if they come in and so this is the deal that Amor was able to swing. This is how crazy this is. They have a $300,000, I think it's like a $300,000 hard money loan on this property right now. They want to go pay that off and then allow us to pay them $120,000 as our $60,000 as our down payment. Okay. Again, to me, the number is Firefighter Matt, and I want to— I feel bad. I'm being 100% honest about it. I feel a little bit bad taking advantage of Firefighter Matt.

It just sounds like he's ready. They're ready to get out of it. And sometimes, like, people are like at a point of pain, a pain point where they're like, okay. I just need to—

So let's do this. Let's go. Let's go pull yours up. I want to run this so that, so that the people can understand what the deal looks like. Pull the conversation you're having with it. Let me, let me get the dictates up real fast here.

Okay. Hold on.

Go back.

I'm just, in my brain, I got to understand. It's like when you're going through, have you ever been through like Ross or TJ Maxx and you see a, like, I literally one time bought a pair of pants from TJ Maxx for a quarter and I actually just bought them literally because they were only a quarter. Like, I don't think I ever wore them. I could have worn them as a Halloween outfit maybe because they were like these really weird golfer pants and they were like plaid and crazy looking like my grandpa would have worn or something. I bought them literally because they were bored. That's the only reason why. So that's what I need to find with this one. Ready? So let's dictate to it. Okay. So I'm trying to figure out the economics. I don't think it's going to catch my recording. It's not catching me.

Last thing is not—

it'll catch you, but it ain't catching me. No. Okay. I'll get it to catch me.

Here, Amor, hold on for just a second. I know how to do this. Okay, so I'm just going to do a new one. Okay, go ahead and talk.

Put this in. All right. I hope I can do it from here. Amor, let's unshare you. I'll jump over here real quick. That way I don't have to take your deal right there.

It's in your email too. If you just click on the email I send you, it has all the information.

Conversation. Did you just now send it or from before?

I sent it from before. I can just resend it to you. And then you can— it'll just pick it up. Here is the one I did.

Morning, Michael. Is it Miko or Michael?

Good morning.

Amor, are you sending the chat link?

I'm just sending you the link, the same chat link.

So then you put it in Zoom just to me.

Oh yes. I didn't email it.

Yeah.

Put it to Tommy.

Okay.

Or actually Catherine.

Sorry, Catherine.

Oh, I'm not—

okay. All right. Sent it.

Perfect.

Got it.

And then Alyssa did her survey, but it didn't come through on my hand. So we're going to show you how to do that right now. Okay.

Ready to dictate?

Go ahead. And are you sharing the screen? No.

Share the screen.

All right. Hold on. So what we did was show Alyssa that— I think, can you show her the email that was sent from Amor?

Wasn't an email. It was— Amor just shared a link.

Shared it in the chat, right?

Just shared the chat with me.

So where's the Zoom chat real quick? So Alyssa, it says chatbot right there. That GPT, you see that? Where she got that, I'm going to show you real quick. Go back over to GPT now or share the screen if you want. Here. Okay, so up here, go all the way up, go all the way up. No, like right there, I think. No, what's that thing over there? The one right next to it? Copy, right? Copy that. See, it says open and chat. Up there. Is it up there?

Well, we haven't started talking, so there's nothing to share because that— this is the share button right there.

Okay, then let's go back to the conversation that we're having. That's not the one. You got to reclick on her. There it is. All right, now go ahead and dictate your I need to do the economics of the seller. The seller is selling it for $600,000. They currently have a $300,000 hard money loan that is due in August. They are willing to pay that loan off out of their own proceeds or out of their own bank account, and then allow us to come in with $60,000 down payment and do a 5-year term with them on it for their balloon. So can you do the economics on this and tell me what the cash on cash is? For this seller. And the only reason why I'm bringing this up again is because if they're going to lose money on doing it this way, they're going to become angry with us within the first year or two. And that's the last thing I want to do is like take advantage of—

we only do when—

because again, it's like, it doesn't make sense. And I, I don't necessarily feel like I need to point it out to them, but I need to make sure that I know in my heart when they get upset, it's going to be here's what, right? So pan this out here a little bit, because again, they've been paying interest only on that loan for 5 years or whatever they bought it, 2021. So that's why it's coming due in August right now. So here's the economics of it. Sale price, $600,000, buyer down payment, $60,000, seller financed, $540,000. They're paying off the $30,000 loan, which is then giving them a net cash at closing of $240,000. So interest rate at 60, I'm looking at 30, that'd be going down. So here's where we're at. So the monthly payment to the seller is going to be about $3,200. And then after the 5 years, they'll have a total of $194,000 with a 5-year balloon of $500,000. Like that's their balloon back, right? So, cause we're going to get some amortization on it. So net seller receipts after 5 years is only $456,000. So what that does is it gives them a cash-on-cash on net cash tied up of 16%. Okay. So the 6% is their true note yield, then they'll have a 16%. So it says here, this is a strong argument for the sale. They get their hard money problem solved, they get monthly income and they stay secure to the property, buy the property, and they have a large balloon coming in 5 years. So, okay. I feel better. Like knowing that they under— mathematically, it doesn't look like they're getting screwed. So that's why I had to do that way, because it is, it's a killer deal for us, really. Especially if what they were making there is— go back up, it was $54,000 a year right there. It's $54,000 a year. So that right there is their monthly amount, right? That's how much you're going to get monthly or per year, right? I'll put it in right there. Annual payment to seller, $3,885, $3,850, and we're getting $54,000 a month, a year.

Right.

And then there's still, so we get the difference. There's a lot of scalability at that place. Right. Pretty good deal, Lamar. Right. Like it's sniffing, it's sniffing pretty good.

So, right. But now we do have to go down there and all that. How far is it?

It's about a 2.5-hour ride from us. More like 3.5 if it's, if Heather's not driving. Then it's goodbye. Tell me I'm wrong, Steve.

Everywhere he goes, there he is. Okay. Number next.

So did you see how we did that? You'll go to your chat. When your survey is, and then the top right corner, it says share and email that to me and we'll run it right now. See that one right there? Oh, there's your link copied. And you did this before, right? Okay. I think, I think I know what's happening.

So for everybody who's watching, he's, we've got a bunch of people who are actually live here with us at Club Scottsdale. And Alyssa did her investor survey for anybody who's interested in the investor survey. Definitely let us know. Laura's also going to post it in the comments. The chat so that if you wanted to do it again, it creates a very curated investor profile based on your personality and what type of investments that make your heart sing and then creates a 90-day and 120-day plan. So it's really awesome.

Yeah.

Lucky it is here.

No, he had to go to work. She sent it. Click on it from here real quick and then go to the— all right. So say it again.

No worries.

Exactly. Exactly. This is your survey question. Well, we just opened it up again. And so, okay. All right. So let's see if it does it over there. No, thank you.

So sweet of you.

Literally. Is it in my email?

Yep.

It's here.

Got it.

Because I'm not, I don't, because you're not logged in like through the web browser. You're logged in through the, but it's here.

Go all the way down to the bottom and back up a little bit. Back up more, a little bit more. A little bit more right there. The trademark, go down right there. So from your land trademark line all the way down.

Am I copying this?

Yes. You're going to copy and paste it. Copy from there down to right there. Back up, back up, back up a little bit more, a little bit more down, down. You're right there. And that's it. And so grab that, right? Like copy it.

Yep.

Got it.

Okay. Now go back to my computer. Not up there. And in here, go to the REI Virtual Board, REI Virtual Executive Board right there. You're going to go into Landberg Investor profile up there with that. And we're going to give it a pop real quick. These are the results from Alyssa Rojas, and we want you to create a very robust presentation based on her results of the Land Chart Investor Survey. Review these results now. Just hit enter, I think, or no, the arrow button, arrow button. And now give me the dropdown and do that. And then, okay.

So for everybody else, What do we want to do?

Okay.

So it is 2 minutes after lunch. Like, let's put his message in a long time ago. So can you show us? I'm good. Who was that? Michael. Welcome. Come back and see us on Monday. It's 10 o'clock and we're gonna wrap up. So we're gonna end today. And I appreciate everybody else coming in today. So I'm gonna wrap it up with a prayer. Heavenly Father, we thank you for the blessing of this day, the blessing of this life. We ask that you continue to bless and guide us so that we always do your will and bless those that need the blessings today. Way, for if they've done us wrong, it is through your vengeance, not ours. In your name we pray.

Amen. Okay, everybody have an amazing restful weekend. I look forward to coming back Monday and we're going to have some awesome stuff we're going to dig into.

I need a nap.

Are we doing it on the holiday? Because Monday is a—

oh, Monday's a holiday.

Monday, we're still deal hunting on Monday.

All right, let's deal.

We can drink Joe's Noir, that'll make people feel better. Okay. I don't know.

We're having Margarita Monday.

All right, 5 o'clock.

You can't day drink if you don't start in the early.

9 o'clock here, right?

Have an amazing weekend, everyone.

Bye-bye.