Real Estate Investing for Beginners 2020 | Real Estate For Beginners 2020

Hello.

Hello, everyone. So is anybody here?

Hello.

Hello, everyone.

Let me know if you're available. Let me know if you're here.

I should be live streaming on YouTube, Facebook and.

My YouTube group, the millennial Masterclass, as well as.

On my page, the Millennial Masterclass.

So awesome. I have two people here. Let me know your name.

Type it in the comments. Hey, Ms. Libby. Hey, Sarah. Hey, Colleen. So everyone who is on YouTube, if you are not on YouTube, it's probably best that you go to YouTube because that'll be the best experience for you. If you are on Facebook, I can see your comments, but I cannot see your name. So on YouTube, the name of my YouTube channel is Solutions by TJ. I'm gonna put it in the comments.

I'm so glad that y' all are here. I know that you'll get a lot from this because.

I've been waiting to do this. So I'm really, really excited.

I see all my good people that I see every week. I go live every Sunday on my YouTube channel.

And talk about just various things. Hey, Shamika from Arkansas. Hey, Derek.

Awesome. Okay, so I'm going to get started. You know what? I'm gonna be fair. I'm an early bird, so I like getting started early. That's why I was on here about five minutes early. I wanted to make sure that everything works smoothly because, you know, I'll have technical difficulties and be fixing my skirt and my shirt and my lips and everything else on camera. So I'm gonna start at 6:30 on the dot.

I'm glad that y' all are here and this is going to be a really good time. I have a lot planned for you. I'm going to share screens. We're going to go through just all kinds of stuff.

So.

Let me try screen sharing.

I think I'm gonna share my entire screen with you guys.

And I call this the Millennial Masterclass for a reason.

Let me see. I hadn't tested this part. Y' all be patient with me.

Okay, so that might not work.

Aha.

I might have it.

Okay, so ignore that screen. I didn't finish it.

Dang. That ain't gonna work, y'. All.

Anyway, thank you. I have 21 people here and I'm just going to go on and get started. So our agenda is pretty simple. We are just going to talk about real estate investing. And the reason that I decided to do this, and especially to do it for free, is because I've seen so many people on Facebook. As I join these groups, I see so many People who are asking questions, who are looking for mentors, who are posting deals that are really not deals. They've taken way too much out of them, they've run the comps wrong, just all kinds of stuff. So I wanted to create a free training where you can ask me questions and I give you some of the basics of, of real estate investing. I see a lot of people in the groups are starting out with wholesaling, and the reason that they're saying they're doing that is because they believe that that's the only way to get into real estate investing and do it for free without using your own money or the cheapest way.

But we're going to talk about all kinds of stuff on this call, and that's why it's super important. Please let me know where you are, what city, what state, and enter your name because that's going to dictate part of my presentation. Every state law is different. Texas is different from Illinois is different from, you know, just other places. So for those who have already done so, thank you, thank you, thank you. If you have not already done so, please enter your name and where you're from.

And yeah, I mean, it's all free information, so feel free. If you have a question, please don't hesitate to write it in the comment section.

Because that is where I'll be looking and taking questions. I'll take all questions at the end of this session. And I'm excited, I'm super excited about this.

Today we're going to talk about various strategies and selecting your strategy not based on your money, but based on the actual deal.

It seems as though everybody is saying wholesaling, wholesaling, wholesaling. And I have a great, great speaker for you guys who wholesales every single day. Now, wholesaling for me is something that I do.

I do it based on the deal. If there's a deal that I don't want or a deal that, you know, doesn't fit my criteria, then I wholesale that deal. For instance, I. I found a deal not far from my mother's neighborhood. It was one of those wooden framed houses on Pier and Bean. That's not my thing to.

Rehab or fix and flip or even rent out. So I sought out a buyer. And the actual buyer that I found was a guy that was right across the street from the house who wanted to buy it cash. So I paid maybe 5, 5, $10,000 for the deal and sold it for 30 and I sold it within 10 days. So those are the type of deals that I Flip. It got to be something that I don't put in my repertoire, but my repertoire includes every type of investment strategy. And when I say investment strategy, here's what I mean. You can fix and flip. You can have long term rentals, short term rentals. It just depends on exactly what you're looking for and what you're looking to do.

I am going to share this screen because I want you guys to see my presentation.

And we will see how this goes.

But I don't know y'. All.

Okay, So I don't know if you can see me all the way. But anyway, so today, what are the different investment strategies and which one is best for you? That's what we'll be talking about tomorrow. We'll walk through the A day in the life of a full time wholesaler. This guy does this all day, every day, has four screens set up to do it and has a process and that I want you to learn about to implement in your own wholesaling business. I'm also going to teach you how to analyze deals and devise a maximum allowable offer. And this is important because you know you have to calculate the repairs and a lot of people are struggling with this who are new to the business. So we're going to talk about that. And I have an incredible guy who's an architect, an investor and as well as a project manager for commercial deals to come in and talk to us about that.

Thursday we're going to talk about hard money subject to and financing strategies. How are you able to profitably use hard money and subject to deals and when you should use it. And on Friday we're going to estimate some repairs. We're going to also talk about how do you estimate repairs and we're going to look at your deals live so that that is the agenda. And for those of you who don't know again, please type your name within the chat function so that I'll know you're here, I'll know who you are and also enter your.

Also let me know where you're from because that's going to dictate how this presentation goes. Because there are so many different laws. Like for instance in Texas there's a law regarding subject to.

Where you have to have an attorney draft the paperwork. That's very important and you can get into a whole lot of trouble. But that does not mean that it's a bad way to do business. You just have to know how to do business and you must do it legally. And that's with everything in real Estate and in investing. This is one of those businesses where you can smooth go to jail if you do it wrong. If you are not operating with integrity, you can, you can go to jail. And it's not that hard to go to jail in doing this.

So.

I don't like the way.

That looks.

So one moment.

I'm looking at it, I'm trying to look at it from my phone and see you guys. So give me a second, let me fix it how I want it. Let me see if that this will be better.

Bear with me y'. All. I'm trying to make it to where this will be easy for y'. All and there's a good view and you can see the presentation and everything that I'm doing. I think this will be better. Okay, that's good. So which investment strategy is best for you? My simple answer is all of them. Just because you don't have enough money, just because your credit is crap, doesn't mean a thing in real estate. Trust me. You find a good deal and the money will find you. All strategies are possible for you. Of course you can choose to focus on learning one strategy. But that's why it's so important for you to go into this business with a mentor. Because you losing out on money doing it by yourself. Because if you're, you could be wholesaling something that you could keep, you can afford and will be profitable to you. So.

Yeah, let me know, let me know in the chat also whether or not you guys can hear me.

That's important because sometimes you know, we go through stuff and people can't hear me. Okay, so there is a deal in every house. It just matters the the motivation of the seller and your ability to negotiate. And we have wholesaling. You can wholesale, residential or commercial. You can fix and flip pretty houses or ugly houses. You can do seller financing with subject to's lease options, conventional financing. There are short term rentals, long term rentals. You can buy, renovate, rent and refi. That's called the BRR strategy. You can house hack. And we're going to get into all of these and let's start out with.

Wholesaling.

So if you have propstream you have the ability to look up both residential and commercial properties. You can look up vacant properties. If there is a residential or commercial property that is vacant. Those could be great things to wholesale. If you have propstream and it's expensive for you if you're just starting out, my recommendation is to get to know some people in these groups, split the cost of Propstream 4 Ways. It's $100 a month, that's $20 per person. Be smart about this. You can spend $100, but spend $100 within a small group of people going through deals encouraging each other. Make your own little group of beginning investors and purchase PropStream. Go knock and other tools.

Texting tools. I think it's Statistica is the one that sends out broadcast text. You can also do broadcast voice messages to voicemails. So spend your money wisely by getting into a group and splitting up those costs. Right now, from a wholesaling standpoint, we are in a position where a lot of people have worked out forbearance programs with their lenders and some people still don't have jobs. I think the latest information on that is like 30, maybe 30 million people are still out of work and still getting unemployment. That's very real. So those people who are getting unemployment, if it goes on too long, the bank is going to have to withdraw these programs over a certain amount of time. They have six months to be on the forbearance program. That's how long HUD will insure that mortgage. After that six month period, they're going to have to start possibly foreclosing on a lot of these, a lot of these houses. Unless of course, the government steps in and provides a longer term for that insurance. But normally it's about six months. So what that means for us as investors, it means that my prediction between October of this year 2020 and March 2021, the market is going to be flooded with foreclosures. People are just kind of holding on to a lot of hope right now. They don't want to move because they aren't working, so they really can't move. However, they do need to start thinking about if nothing else becomes available and how will I make a living for my family or where will we live if I do get kicked out of my house? So that's really important. My view is why a lot of people in wholesaling do not succeed is one consistency. The other is how you approach a homeowner. If you approach them like everybody else with this, hey, my name is TJ and I buy houses. I just drove through your neighborhood and was wondering if you were interested in selling. Man, these people are going through dramatic and traumatic situations. They really don't want to hear that. Have some empathy, have some type of.

Compassion for these people and give them a fair deal. You know, when you are wholesaling the deal, make sure that the homeowner has enough money to go on in their lives and get a new place.

And, you know, just don't eat up all the equity trying to be greedy, because these people are really, really hurting. And, you know, we're in this to make money, but we are not in this. At least I'm not in this. And I don't deal with anybody who's in this to screw people. So keep that in mind. But the foreclosures are going to flood the market. Right now, what I'm looking at personally are vacant properties, airships, and divorces. So those are my criteria when I go into propstream. I filter by vacant. They're going through a divorce or it's an airship property. Airship properties are a pain in the butt. But, man, there's a lot of equity in a whole bunch of airship properties. When I say they're a pain in the butt, you know, there are kids that nobody knew about coming out of the woodwork. Everybody is mad, so they don't want. They can't get along to sell the house because they don't want this new baby that daddy had they didn't know about to get any money. It's just all kind of crazy stuff. So, you know, you have to know how to deal with those situations. And of course, again, you deal with it with compassion. If you can find it in your heart to.

Approach people with the.

With the.

Intent to help and let them know that, hey, my name is TJ and I'm just really calling to see how I can help. There's a lot going on. I see that you're behind on payments, and, you know, I want to see, is there a way that I can help you either negotiate with your lender, sell your house, or whatever I can help you with. Do you mind me stepping in and asking you a few questions about your property? That works a whole lot better than, hey, my name is tj, I'm in the neighborhood, and I want to buy your house. So again, to be successful in wholesaling, the main thing, my opinion is consistency. People start wholesaling, get a lot of no's, and they're like six months later. I don't want to do this because I haven't gotten anything. But until you're doing this every single day, sending out 100 to 200 messages every single day, you aren't doing anything. If you haven't gotten 100 no's, 200 no's, you are not doing anything. Because it's a numbers game. If you do those numbers every single day, you will land a deal. You're contacting a lot of people and that's why so many people are choosing the text messaging method. I do like the Driving for Dollars. I do. But like I said, if you are a new wholesaler, get into a group and label that group new wholesalers and y' all split the cost of this because it can be expensive. But don't let just Driving for Dollars, you know, like Max, Max Maxwell talks about, don't let that be your only strategy for finding leads because it'll take you a little longer. So while you're driving for dollars, somebody else is sending out 200 broadcasts a day or 500 or a thousand. So they're beating you at this. Why? Because they're spending the money. PropStream is $100 a month. Go knock. Which I'm really liking. I'm really. It is really comparable to Propstream in a lot of ways. It doesn't contain as much information as far as the transaction history, but it's a. It's a good competitor, you know, it's a. So, so check it out. Really comparable to PropStream in a lot of ways. It doesn't contain as much information. So hold on. I'm trying to mute myself on my phone. I hope y' all have to hear me.

Because for some reason my phone just clicked on and I was able to hear myself.

But anyway, so yeah, please take a look at that because that is. Take a look at. Go Knock and join those, those groups and have groups for yourself where you and other people split the costs on all this stuff. Please don't hesitate to like this video if I'm giving you good information because that is my total goal. So fix and flips. I got rich fixing and flipping pretty houses. And when I'm talking rich, I was a multimillionaire over the 2008.

Mortgage meltdown. I was a part of that and lost a whole bunch of stuff because it's just other stuff going on in my life. I had a baby. I've done all kinds of stuff. So I'm building back up to the million dollar status. But man, the pretty houses is what got me there. And I'm not far from it right now. So I recommend pretty houses if you can. And when I say pretty houses, I mean houses, you know, not the regular. I'm looking for a house for 10,000. You get a house for $10,000, it's going to be wood and pier and beam. If you get something in the.

I'd say 150 to.

275 range.

The higher you go up, the less work that property needs. When you go in there, it really and truly needs carpet and paint. That's needs carpet and paint. And that's what you want to do. You want to go in there. It needs carpet and paint. Doesn't need a whole lot. Those are easy properties to flip, especially if you find them on propstream and, and, and one of the filters is high equity. There are plenty of them. That's why I don't mind giving you information. There's more than enough money for me and you to go around, so I don't have a problem at all telling you every single thing I know.

Thank you, Erica, for letting me know that you can hear me. Well. So, yeah, I got rich on, on pretty houses. That's what I recommend for you. The ugly houses that are on the market, it's about 5% of houses are the real and true ugly vacant houses. And do they sell? Absolutely. Do they make good rentals? Absolutely. But the pretty houses make good rentals too. And.

You know, I mean, there are different strategies that you can use if you don't want to be the one who fixes and flips them. Right? Of course, you can wholesale that deal, but you can also partner or joint do a joint venture with somebody where you find the house and you joint venture with them. You know, y' all figure out some type of arrangement. This game is all about creativity and creating a win win situation. That's what it's about when you first get into it. You make a whole lot more money when you are creative. And wholesaling is one way you can get your little cash. Two to five thousand. I'm seeing people asking for 10, 20,000 on a, on a wholesale deal. That's crazy to me. You aren't leaving enough money in the deal for an investor. And that's why I want to go through some of y' all deals. After I teach you how to run comps, how to estimate repairs, I want to go through some of your deals with you. And also I'm going to be giving you guys some rules of thumb as well.

But.

So the ugly houses, yeah, they're harder to fix and flip.

Normally there's a whole bunch of repairs, but hey, there are some people who love those things and make them absolutely beautiful. So if that's your niche, then that, hey, it works for some. It just doesn't work for me because I want to be able to go in and move quickly, you know, and there are plenty of pretty houses to do that with and make just as much if not more money than you would with the ugly houses. Now let's talk about this seller financing thing. So say for instance, you, you find a house on Propstream or on Go Knock or REI Pro.

And you've spoken to the seller, it does not have any equity. Well, guess what?

Most people would say, well, that's not a deal. If you do that property subject to the existing mortgage.

Or do seller financing where the seller sells you the property, you take over the note and you find an in person who puts a down payment on that property or some, you know, some type of lease option or.

Down payment or lease option. Those are your options. Then they're paying the seller whatever the, you know, the, some of the, a portion of the equity or the down payment for you. And then they're taking over the mortgage payments and you're still getting the residual of a 2 to 300, maybe $400 a month from that property. And nothing came out of your own hands. So let me repeat that. There are ways in certain states, in Texas, this is tricky. I have to tell you, it's best. The only way to do it, my recommendation is to get an attorney because in 2008 they started like in 2005. I think it's called the SAFE act, where it's harder to do the seller financing. I believe a portion of the laws state that you can only do five a year. You can only do five a year before you're penalized. And when I say penalized, it means that you have to be a licensed mortgage loan originator in order to do it. If you're a licensed loan originator, then you can do a whole lot more of these. So if you've already gotten your loan origination stuff, then you can definitely do this. And this may be a great strategy for you.

So that's seller financing. So what you would do, you would find a property that really has no equity.

The homeowner is distressed, they need to get out of the property. And really they just want somebody to take over the mortgage so that they won't have a foreclosure on their credit. Now you might be asking, well, why would somebody be willing to do that? T.J.

They'Re going to go through foreclosure anyway. So they're stance is really like, man, I mean, you know, I can either take some money on this end and allow somebody to take over these mortgage payments or I can just let it foreclose. It's better that to them to take a Little money, take some cash, 10 to $20,000, you know, depending on the house, and go find somewhere else to stay and be and not have that foreclosure on their credit because that foreclosure can stay for a while unless you go through credit repair and get it off. And that can be tricky too. But that's their more motivation for doing it. So you do seller financing at the same time you're creating that contract with them for seller financing, you're finding a buyer for that exact house. You put it in the classified ads, you put it on Craigslist, you put it in places where you can advertise, even in Facebook. Marketplace is an awesome spot where people who have been out of work and are in working again. Now, people who have gone through foreclosure but are working again, they can afford a house, but they really can't afford to buy a house because their credit is not as great. So they're looking for rentals. So they rent it out, do a lease option or they'd want to sell or finance where they give you in seller financing or lease options, they'll give you a down payment or an option fee. It's called in lease option in Texas. I don't think you can do the lease options at all other places you can do the subject to and you can do certain types of seller financing. So don't take my word for any of this. Look it up based on your city, your state. That's why I wanted you guys to let me know where you are, let me know where you're from.

Okay, how is it so far? Are you guys getting anything out of it? Talk to me and let me know.

And next we're going to talk about rentals. So you know, you look at this Covid situation and you think, well, how are Airbnb's doing right now? Are they still profitable? People aren't traveling as much and that's when most people use Airbnbs. And so the long term rentals are sort of winning in my opinion at this moment. It's a little safer. Even though with the long term rentals there's legislation in place where you cannot evict them even if they don't pay their rent. And a lot of people are taking advantage of that. So a lot of landlords are having to go through the forbearance program. It's all a part of it, it's all a part of investing. And it all depends on your tolerance, your tolerance for risk.

Whether you go long term or short term. If it were me, you know, I'm going to do a little bit of both.

I like the short term rentals because people are still coming in and out of Houston for business. So they are looking for still little places to rent out over the week, over the night, over the weekend. So it's still a good business. Long term strategy. I do that with larger houses with.

With say, houses that have, you know, up in the $200,000 range. Those are the houses that I normally do long term rentals with. I love personally the buy, renovate, rent and refi program because, you know, it's sort of like a flip, but it's something that you are keeping for yourself and renting out. And once you find a renter, you refinance it because look, you fixed up the house, you bought it at a low price, you renovated the house, now it's worth more. The market value has increased. You rent the property out, now it's worth even more because it's a business and there's a renter involved. And then you refinance the entire deal and pull your money out. And in a lot of good markets, if you bought it low enough, you not only can pull your money out through that refi, but you have recurring income every single month. So thank you all for the comment. I appreciate it. House hacking is one of my favorite things for young people. And let me tell you now, it is very important that you keep your credit straight. If it's not straight, do what you got to do to get it straight as quickly as possible.

There is a way that if your mom and dad have good credit or if somebody in your family will allow you to piggyback off of their credit, then it can raise your credit overnight. So I'd say at a minimum of 680 in this game, that's what you need. But house hacking is where let's say you purchase a duplex, triplex, fourplex.

You live in one of those units and you rent the others out. And guess what, honey, you are living rent free. I have people who are doing it. I have people who do it every single day. They have a home. One, it may have anywhere from two to five units. They buy that. I think it's considered single family when you buy up to four units. So buy a four plex, look for a four plex or a duplex or even a triplex. You live in one unit, rent the other units out. Every young person, when you leave your mother's house, you should not be going to an apartment. You should be looking to buy duplex, triplex, or fourplex.

And even if it's in your mother's name or your father's name or somebody that you trust, explain this process to them. Explain it to them.

Show them the deal. Show people how this works. Help them to understand the numbers behind this and the hey, they may get behind you. And in today's market, there's crowdfunding as well. So your credit man, there are no excuses. No excuses. You want to be wealthy, you find a way. You figure it out. Creativity is the name of this game. This is chess, not checkers. Okay, so we spoke about Airbnb, we spoke about house hacking. Every millennial, I call this the millennial Masterclass. But it seems, because it seems like a lot of people in that age group are making a whole bunch of moves in real estate. And though my group is open to everybody, I want to make sure that y' all make the right moves, because there is a right and a wrong move. The right move before you just set your life all the way up and start having kids and, you know, just life getting in the way. Even if you have a kid or two, doing that house hacking, man, is the way to go. Because by the time you get ready to either rent your.

Apartment out of that fourplex and move into your house, you'll have enough equity to take over you. You're building yourself even more versus building somebody else's wealth like mine, where you're living in one of my apartments. Because that's mainly what I do these days, is multifamily investing. So we talked about the Airbnb model and you know, a lot of people in, like the wards in Texas, in Houston, we have what's called wards.

We have first ward, second ward, third ward, fourth ward. Those there are a lot, a lot of those wood wooden houses on pier and beams. Great houses, Absolutely good houses. The thing about those pier and beam houses, people are turning those into Airbnbs so they can buy that house for 10,000, fix it up, and make it a short term rental. They didn't pay a lot for it. They put maybe 20, $30,000 into the renovation, which is a good deal. So you buy for 10, put 30 more into it, maybe 40, and you're still at a mortgage of less than $50,000 and rent it out every month. You are not hurting. The mortgage on a $50,000 house is $500 with more than likely taxes, insurance, and everything included. Okay? So, hey, it's a good deal. Most people can afford that. And that's what A lot of people are doing. And they look really nice, really, really, really nice. Larger multifamily.

When you get into multifamily, they start looking more so at the deal than at your credit, your personal credit. And how somebody young can afford to do that is if they start studying how to become a syndicator. And a syndicator is somebody who basically just puts the deal together and gets other investors to invest in it based on the deal that they put together. Because it's such a good deal that, you know, they, they were able to put a good deal together. Well, here's, here's another little tip for you.

Whole bunch of people in the multifamily space paid too much for those deals. Way too much.

Now they're hurting because there's a moratorium on evictions, right? There's also, you know, the forbearance plans are not going to last forever. They know this. And so they're going to lose their shirts. A lot of them are going to foreclose. And that's why I mentioned to you, not only selling residential, don't just look for residential, look up commercial foreclosures as well. It is going to be profitable for you. These apartment complexes that you pass all the time. If it's a small apartment complex in your area, and I'm not talking about the massive like 300 units, I'm talking about driving through the neighborhood and it's anywhere from let's say 10, shoot, let's say two units to 30 units. Those are good, those are really good ones to start looking at and writing the addresses down, going on propstream and looking them up because I'm finding more and more that they are in default.

And you can make a killing. Now you're talking about host, you want to wholesale and make 10, 20, 50,000, you'd need to wholesale commercial properties, not residential, residential. I mean my wholesalers, if you trying to charge me $10,000, there's just not enough money in the deal. Normally for that, your fee is normally 2 to $5,000. It has to be a heck of a deal like free and clear deal for it to be 10,000 for you and enough for me. And the reason that I say that is because when you start rehabbing these houses.

Anything can happen. There are so many surprises behind the walls you just cannot believe. Plumbing stuff pops up, electrical.

Foundation, you name it, all kind. When you start knocking down sheetrock and looking behind walls and, and, and making a property naked, all kinds of stuff pops up and you have to be Prepared for that. And that's why, you know, I prefer my own preference for people that I work with to leave most of the money in the deal for me because I'm the one that's taking most of the risk. The wholesaler found the property and is passing it on. You can make two to five thousand. I prefer five and everybody is happy. Most of my wholesalers make at least 5,000. Now if they partner with me on the deal and they do some of the running around, they go and you know, they're working then of course, absolutely. If it's my money and they're running the deal, that's a good deal for a lot of people, especially a lot of investors who are working on multiple properties or, or who have a full time job, they are willing to do it. So ask your investors. Is anybody interested in doing a joint venture where I take over, where you teach me, you mentor me and I do all of the running around.

And even if you don't get a 50, 50 split, you'll get more of a split than you would just wholesaling and you'll learn along the way. Now, you cannot beat that. You can't with multiple houses. That's what you need to do if you cannot afford a mentor because mentorship is expensive. And if you JV on a deal with somebody, you know a lot of mentors, most mentors who are worked their shirts who have been doing this and are and are currently doing it charge anywhere from 2,500 to $5,000. If you joint venture with somebody on a deal, you're paying the same thing, if not more to that person. But it's worth it because the next deal you'll have cash and the knowledge to do it yourself. Even if you find it twice and do two deals in that same way, it'll be good for you. So.

Those are my recommendations.

For those. For wholesaling commercial properties multifamily comes in what they call the letter system, A properties B, C and D. Let me explain to you what that means. I'll start at an A property. An A property is pretty much brand new, built in the last two to three years. It's beautiful, it's high class, it's luxury, it's very, very nice. B properties have been built in the last five to 10 years. They're still good, solid bones, really good, stable properties. C properties are more blue collar properties. They're a little older than the B and they're solid. Most investors are in investing in that C range of properties deproperties are what you'd find in the hood. They are somewhat run down. You know, they are not the best they need. They have a lot of deferred maintenance.

And those are really, really good deals. But they're sometimes more of a headache.

I can tolerate a headache. A whole bunch of times I've tolerated a headache because it's going to be something with every. My job is a headache, you know, so there's going to be. You just got to pick your headache as long as you're getting paid to do it. People are talking about purchasing rentals one unit at a at a time. From a single family standpoint. My recommendation to you while you're doing single family one at a time is to do multifamily. If you can buy one, you can buy four. All you got to know are the numbers involved in, in that four and how to make those four make sense for you and make money. Residual income, get equity off of it, be able to refinance it and pull that equity out. That's the name of the game. So. And I'm not against single family. I'm not. If that's what you want to do, cool. I'm. I'm more so geared toward economy of scale and all of my rentals in one place versus me running all over Houston, dealing with pipes and all that stuff.

What I do personally instead of rentals, I do seller financing. I don't rent houses. If I find a good house to rent, then I've actually found a good house to. I've actually found a good house to seller finance. And that's what I like a whole, whole, whole lot more is the seller financing. Because when you do that, you don't have to be bothered with that client anymore. They give you a down payment. It's their house, right? They cut the grass. Anything breaks, they fix it. They don't make the mortgage payment. You quickly foreclose on them and you're done. Put somebody else in there, get another down payment, do the same thing, start over. So in my opinion, if you want passive income, consider that as an option as well. Okay, so that's pretty much what I have for today. Tomorrow I am going to get into some more stuff based on our agenda. Go back to the agenda. We'll have a day in the life of a wholesaler tomorrow and he will discuss tools, techniques and processes that he uses. And he's really, really good. So I think y' all are going to like that. And if you're currently wholesaling or if you are thinking about wholesaling. Please share this video with your friends. Make sure you give me a like. And yeah, that day in the life of a wholesaler is going to be super, super good. So I look forward to seeing you tomorrow. Y' all take care.

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