Tommy Dobczyk breaks down why headline sale prices mislead buyers who ignore existing mortgages. He describes reporting an unsafe roofed house to code enforcement, then shares how his colleague Pace bought a $40,000 property, let tenants stay rent-free, and built it into a $250,000 asset.
Chapters
You tell people give you $1 million for the house. They hear the million dollars part, but they don't take into consideration or account the mortgage that they have we have to pay off. That's $899,000. Now they're not getting $1 million. They're mad at you, and then you're a jerk, and they pull the contract. Oops. Hey, Charlie, go call that one offer 1.2. Now they know the rules. Wow. Yeah. So, you know, we. We go into these things understanding that sometimes you gotta play by a different set of rules, you know, apply some sort of different logic to it so you can make it make sense. But I think as far as being a contractor, Pace called code enforcement on somebody who had half a roof on their house and they're living in it. He's doing it out of duty to serve as a contractor. Because when I see stuff I have to report, I report it. I don't care if it's going to cost me money or not. So if I'm not going to get a deal because I helped save somebody's life and kept them from living in a bad situation, that's what I did. So I own that, too. But, yeah, you know, Pace saying that he called it to. To get the property. Like, if you paid attention to the rest of the story, the, the women live there still rent free. Right? You know, he bought the house to actually have his leverage. He told you the. He told you the answer in what you were listening to. He said, I bought it for 40. They live there rent free, and it's worth 250, 000. What's he doing with it?
