MASSIVE $108,000 Real Estate Wholesale Deal (w/Trystan Trenberth & Christian Riva Mae)

Welcome to the Wholesaling Inc. Podcast, America's number one podcast for new real estate investors, where we know that finding discounted properties is the most proven path to financial freedom. I am your host, Brent Daniels. Mr. TTP, Mr. Talk to People. And I am telling you this, if I can do this business, so can you. So let's get started. Have you ever had a lead that didn't have any equity? Or maybe you had a lead that had motivation, but they still wanted a pretty high price? Maybe a price that didn't really make sense for a traditional wholesale transaction because we know in wholesale we need two things. We need equity and we need motivation. Well, I am going to interview two guys here. I am going to have a conversation that squatted up one that had expertise in creative finance. The other one is a TTP family member that found the opportunity and they were able to blend together to find an incredible, incredible opportunity for an over six figure deal. It is my pleasure to bring on to the podcast Christian and Tristan. How are you guys?

Very well.

All right, good. So let's crack this thing open. I'm going to start with you, right, because you found this opportunity and we've had a lot of conversations, we've worked together personally, one on one, and you are really figuring out what you want to do in this business. Right. You're figuring out what is what really makes you happy and confident being a real estate investor. So let's dig into kind of what your background is and how you found wholesaling as a business and real estate investing and what you're doing.

Sure. So I found Wholesaling Inc. Back in 2019. August of 2019.

Yeah.

The way I found it was my dad, who, who is also a Wholesaling Inc. Student. Him and my mom, they were with Cody and Tom doing the mailers and stuff.

Yeah.

So at the time, I was applying to different police agencies across the Nevada and Arizona and my dad's like, hey, you know, maybe this is not the right path for you. He's like, check out rich dad, poor dad. And I want you to listen to some podcasts. I want you to start off with Wholesaling Inc. He's like, because that is the mentorship we join.

Sure.

So it wasn't until July of 2020 that I joined TTP and here I am now.

That's awesome. So you wanted to be a police officer. Why didn't your parents want you to be a police officer? I mean, why were they like, hey, well, before you do that, what did you start filling your Head full of this whole real estate investing business.

I think it was just the drastic change in the way the world viewed police officers and treated police officers and stuff. And they're like, hey, you know, maybe that's not the right path for you. They never discouraged it. They're like, hey, if you want to go do it, go do it. Like, we have no qualm about that. But hey, like there is other things out there besides that. And so, you know, I had applied to probably like four or five different agencies and kind of got the door shut in my face probably due to age. And at that point I was getting ready to apply, go down to Lake Havasu City, Arizona and apply for their police department. And that's when my dad's like, hey, like check. Check this out first before you go do that. That, that's not going anywhere. So that's what started my journey on real estate, you know, opened my eyes to a whole other possibility.

Yeah, Tristan.

So I come from a background of 20 plus years in technology, systems engineering, and most recently information security.

Sure.

And I found rich dad after having it on the shelf for a couple of years and then pulling it out and kind of regretting not reading it two years before. But we were at a perfect place. So I started out with one of the more expensive education programs and I got what I got from that. I didn't take a lot of action and. And then it was actually in this building really, that I came over to look at batch skip tracing one evening.

Yeah.

I was looking at their just skip tracing program. It was the launch of their SMS night.

Yeah.

So I think you were here. I didn't know you guys at this point. And shortly afterwards joined Pace's program.

Yeah.

Started about a month or so later and just really aligned with the creative finance side of things. I really enjoyed working with people. I come from a customer service background before it and I've just, just thoroughly enjoyed, you know, enveloping myself in the community. Yeah. And swelling with the community and, you know, sort of creating my own community to unite these communities together. So it's been fantastic.

I love it. Let me ask you this, just from your experience and both, both I want your answers. Why didn't you take action in that first one? What is the. What do you think stops people from. You get the education and they're like, okay, here's the direction to go. What do you think stops you from like really like making it a major attention in your life? You know what I mean?

Yeah, I do. Excuses.

Okay.

I Got kids. I've got this, I've got that. I've got a day job. I was working sort of out of hours on call, that kind of thing.

Sure.

And also, I wasn't really inspired to do so by the education either. There was education there, but they're known as a sales company for education, but not necessarily a provider of education. I think you probably know the company.

I mean, well, listen, I think that, you know, if you. If they're traveling around the country, they're really great at sales. They're terrible at fulfillment.

Absolutely.

It's just the truth. You know, they'll hit you with a lot of education, not a lot of instruction. And this is not me, you know, it is me, obviously, knocking on it, because, you know, I've been through that, and I was like, I didn't get anything out of this. They basically just told me that I could pay some money and get some paperwork that I don't know how to fill out, and I can. I can have some support with somebody that's not those guys on stage. It's like somebody that they hire for an hourly wage. And once I understood that, I was like, oh, okay. You know, once you peer behind the curtain and see what really happens, you're like, oh, this is just a big funnel. Yeah, this is just a big funnel to get people to go to the back of the room, sign up, you know, 10, 20, 30, $40,000, and then. And then kind of assume people won't know enough, and just kind of stop.

Yeah.

I mean, that's the truth. I mean, I've had. I've had a lot of those stories with a lot of people that have joined the TTP family. What about you? Join ttp?

Yeah.

You got the instruction.

Yeah.

You got the coach.

Yeah.

You got the support.

What. What holds me back is it's just. It's a whole new arena of stuff. And I work currently in the security industry up in Vegas.

Sure.

So a lot of it's very, like, you just. You're on your own. You're kind of your own. You know, you have your bosses, you have a team around you, but you're. You're tasked by yourself. You just kind of. What's the word?

You don't have a lot of social interaction.

Correct. And when you do have social interaction, most of the time it's not the friendly type of social interaction, because it's like, hey, I'm telling you the rules. These are the rules. This is why. And it doesn't. You know, it's not Really a positive interaction.

Right.

It's gotten better since I started working with like hoas and stuff like that.

Okay.

Because obviously you're dealing with people's homes and residents and stuff. So, you know, most time they're friendly, they're pretty friendly most of the time. But then when something goes wrong and then they come wagging your finger at you. So coming into the real estate business where I'm like talking to a bunch of different people from a bunch of different backgrounds, you know, it's nerve wracking.

Sure.

You know, because I haven't had kind of the social experience similar to this in many years.

I think a lot of people feel that way.

Yeah.

I really do. I don't think that you're, you're on an island by yourself out there thinking that that's just you, you know, having that. I think a lot of people, initially, it's tough to get past the point of, of really consistently talking to strangers and feeling okay about it.

Yeah.

That's why, like people trying to do this by themselves, like just at their house and just starting and doing. Some people do it and it's incredible. But a lot of people find that their resolve, their consistency starts chipping away just because they're not getting a lot of support and. Or they just feel like it's not really moving the needle in the direction because you have to talk to a lot of people, you have to talk to a lot of people to get these over six figure deals. Right. So. But you ended up having a conversation with somebody you worked with.

Yes. So it was funny how it happened. I was working overtime and it was a graveyard shift, so nothing's going on. And I just happened to drive down to the gatehouse where another co worker was at, and that's when he asked me. He's like, hey, I hear that you talk about real estate all the time. Are you in real estate? And I gave him kind of.

So wait a second, wait a second for the guy that doesn't is by himself all the time. This guy knows that you're talking about real estate. You're obviously communicating on some levels.

Yeah. Oh yeah, right. So you gotta give yourself credit making mentions about it. So anyways, I get down to the guard house and he asks me, are you in real estate? I kind of give him the kind of the maybe. And you know, I'm interested in it. And he's like, okay, well I'm having a problem with my house. He's like, I'm gonna be going through a divorce. I need to get rid of it.

Yeah.

And so I asked him, you know, the typical questions. So we got the motivation is divorce. Asked him the. The condition of the house. He's like, oh, it's pretty good condition. I didn't do too much digging because I'm at work.

Yeah.

And then I asked him what, you know, what's the timeline to sell? And that was the finalization of the divorce. So I asked him, look, you know, what's your address? I'll look it up. And I took it home and asked my dad, who's, you know, involved in the business, can you pull this up on Propstream? Because I don't have access to that. You do. So he pulls it up on Propstream and let me back up a little bit. The co worker said he owed 280 on the house.

Okay.

That's what he said he owed.

Yeah.

So come to find out, when we looked at it on Propstream, he owed closer to 300 on the house because of a refinance. So my dad was like, well, he's like, it's super tight. We cannot wholesale this. He's like, and it is still tight because we can't do like a wholesale. We can't go in and take it over, fix it up a little bit and relist it because it was worth, I think, at the time, like 305.

Okay.

So I was like, okay, well, shoot. I don't want to let this guy down because he did come to me and ask me for help, and I know there's people out there to solve his problem.

Yeah.

So I met Tristan on wholesale hotline. This is shortly after I joined TTP. So it was probably like August or September of 2020.

It was August 19th, if I remember.

Yeah. So I was like, reached out text him. I'm like, hey, Tristan, can you check this out? This is what's going on. This is the price. This is motivation. This is the timeline. Maybe talk to him and see what. What you can do.

Yeah.

And then Tristan's like, no problem. I'll take it over from here. And.

Yeah.

Awesome. So you're looking at this, Tristan, and you've got a deal that's worth 305. They owe 300. It's a divorce situation. How was the condition of the property?

The only pictures we had were from about six months earlier when they tried to list the property themselves. Initially, because they refinanced it about six months before that. Then he knew he was getting divorced. They tried to list it, couldn't sell it. Now one of the things that we saw was that it was a VA loan. So there was pretty much little or nothing down. Right. The refi was going to give them.

Explain to everybody that just of course, how much do you have to put down for VA loans?

Pretty much nothing. Right. And they'll just put all of those costs on the back end. The origination fees, any points, anything else, it just goes on the back end. So effectively, although it's a great way for military and ex military to buy houses and it, it can put them underwater if they're not putting money down. So even when they buy the house, they're, they're underwater.

And did they just buy the house? Were they in there? A little bit.

18 months.

18 months and they pulled out a refinance.

Yeah.

Or refinance it.

Yep.

Holy cow. Okay.

And the condition pictures look good and I hadn't seen it until November or October last year. So we'll get to that point in a minute.

Yeah, yeah.

But yeah, look pretty good condition.

Okay.

We're um. There were a couple issues with the pool that he was going to have fixed. He was going to pay for that and but from August 2020, that was when he was looking to get divorced. His ex mother in law was in there. He had moved out some point soon afterwards. So he wasn't paying, he wasn't living there but he was paying the mortgage. So what would you do if you had a house that you lived in where you didn't have to pay the mortgage? Would you move out?

I mean now you're paying double fee. I mean you have to live somewhere. So I assume he's e. Either paying rent. He is paying rent because he bought the other one with the va. So he's paying rent and he's paying for his mortgage with his soon to be ex mother in law living in the property, not paying anything.

And, and soon to be ex wife too. Oh, the whole family, the whole family's there. Him and his, his young daughter are there. So he wants to keep on good terms with ex wife because of the young daughter.

Yep.

And the poor guy's paying rent somewhere else. He's. He's being double dipped by somebody else.

Sure.

And she's got no reason to move out because she's got a free life.

Right.

Kind of like the foreclosure situation.

Sure.

No motivation at all.

In March hits 2020, we all know what happens. Right. Everything the whole world changes. Whole world was like somebody pressed pause on it. Right. And pause and stay at home. Right. And then so they. They dug in, I assume. Right.

More people moved in from the family because of COVID Oh, my God. So they couldn't afford stuff elsewhere. That was before the moratorium hit. So they moved into this home. So there was like 12 people. L. According to.

Wow.

To the seller.

Wow. Probably not any pets with 12 people though, right?

Well, it's funny you should say that, but they were breeding dogs at some point. When I went there last year, there was a. Well, I think they call it a bull in the garage.

Okay.

There were two or three other in the. In the house. And lots of puppies.

Yeah.

Lots of urine smell from dogs.

Wow. So you've got this co worker that is literally losing equity in his house because the property's getting destroyed. And so what do you guys do to solve it?

So, yeah, I stayed in touch with the seller. I mean, Chris helped me. You know, there was just. Just balancing that communication between somebody that's a little remote, that doesn't know him, and the rapport that Chris has with him as a co worker and now as a problem solver with him. Just followed up, kept being there as support for him finding out if there was any movement on the divorce. There wasn't for quite some time. Obviously Covid was part of that with the court system slowing things down. But it all came to a point where about six months after we met, about January last year, they were thinking about moving out. I was helping them with another sub 2 student try and find the ex wife and mother in law rental. Of course that was going to cost them money. So after offering them two or three thousand dollars cash for keys kind of thing for them to move out, they just kind of went dry on me and didn't hear from them for some time. But I was staying in touch with the sell.

And how are you feeling when that happens? You know, when that. When you're like, okay, this is a deal, I know I can help them out. And then all of a sudden, boom. Ghosting. Right. They just ghost you.

And so this situation is a bit different. I knew that with her ghosting me, she was ghosting me because she had a free house to live in and there was no. No motivation for her. But I was staying in touch with the seller where, you know, he was motivated and he was trying to stay in contact with me. He was kind of updating me from time to time when he had the contact with. With the mother or his daughter and. And his ex wife and he was motivated still, but they weren't replying. So I just had to be there and coach him along and just make sure he knew that with a solution was here for him when he was ready. So you know, 15 months went by altogether before we. I actually went up there.

Really?

Yeah.

And is that you were talking to him for 15 months before you got it under contract?

Correct.

Wow. But you got it under contract for the amount that he owes.

We got it. I gave seven and a half thousand dollars cash to seller. Okay. They owed 300, I gave them 375.

Yeah.

Closing costs. I think we're in for 313.

Got it. And then you took over the loan subject too.

That's right. Yeah.

Of course you could do that with the VA loan.

Well, we, we did what we call a wrap. So I didn't transfer the deed. So it didn't.

Let's, let's break this down because this is gonna be real interesting.

That'd be great. Yeah.

Right. Because listen, this is, this is kind of the rule of thumb, right? Cash offer, cash offer, cash offer. Then get creative. Right. Like go after them. Try to get as many deals as you can under contract for a cash as is offer that's going to be the simplest and the smoothest and give you the. Give you really nice spreads. If you can't, then you got to get creative. If there's no equity like this, this situation. Actually I assume that by the time you talk to him 15 months later or got to get under contract, there was a lot of built up equity knowing what happened in 2020 and 2021 in the Las Vegas market. But he just wanted to get $7,500 and he wanted to lock this thing up at what he owed and he didn't want more. Even knowing the market was going bananas, he just wanted to be done with it.

That was the pain, speed and convenience. Exactly.

Right.

Yeah.

So why not just lock it up as a cash offer at 313 and then just sell it for much more? Because we'll get to what you made on this, which is phenomenal. Why not just lock it up at 313 and as a cash offer and.

Assign it with what I knew of the market. I'm based in Arizona, I'm not specializing in Nevada, so I wasn't terribly clear. But you know, propstream, batch comping, that sort of thing. We knew that it was probably 350, 360, maybe a bit more based on sales when we locked it up. So there wasn't really that much in there to be able to just listed again and fortunately I didn't look at that cash offer. Because he just wanted to get his credit repaired because he had some other things that were falling behind as well with paying rent and mortgage. So he. It was a benefit to him to have the mortgage paid on time for a longer period of time.

Got it.

I thought about maybe Airbnb it, but the community wasn't an HOA friendly Airbnb location. And since when? I went up there in October, when I did have it under contract, she finally signed it. So I flew up for the day just to walk the property because I had to get eyes on it just to make sure I knew what I was getting myself in for.

Sure.

And yet that's when the bomb dropped. And we saw lots of holes in drywall kicked indoors.

You got 12 people, dogs.

There were only dogs, four or three or four in there at that point.

Sure.

But yeah, There was like 12, 15 dogs in there. And, you know, I didn't see our other friends. Well, I should explain in a moment there at that point. But yeah, it was a, it was a mess. There was Sharpie on the walls, two or three broken windows.

So you're looking at this thing and you're like, okay, he owes 300. It's worth 350 based on the comparables right now.

Yeah.

And it needs 50k worth of work. Are you, are you wondering if you made a good decision here on the sub 2?

By that point, I'd seen that there was more room in there as leaning to close to 400,000 at that point.

The price is creeping up.

Yeah, that is.

And we joked before this podcast, thank God for inflation. Right?

Yeah.

No, but I mean, honestly, the, the, the housing market, really, I mean, you hit it, right? And it just went, it went crazy. It went really, really bananas here in Phoenix and in Las Vegas. Las Vegas is kind of like our little brother market type of thing. And so you're walking in this. It's got, you know, just. It's destroyed. Right. How old is this house? It's a newer house. It has an HOA.

So it's 15 years old. It's about 2,000.

So this is a newer property. It's beat up, but cosmetic. It's not like you're changing floor plans. It's not like you have to add on to the house. It's not like you have to, you know, get into those huge, huge, huge, you know, rehab budgets. So you lock it up as a wrap. So talk to me about that. How does that work technically?

Sure. So basically, when you take over different types of loans Sometimes you can transfer the deed or the title. Depends what sort of stage it is. VA loans are very finickety. They're very, very trigger happy. Maybe there's something to do with the military on due on sale clauses. So we just did a wrap of the original loan, didn't transfer the deed. So it's basically a contract for sale. Basically. So this deed stayed in his name.

Is that, is that the paperwork you used?

You know, I can't remember exactly what we had. We just went through Drake's title, who have done, you know, a lot of.

So wait, you let the title company actually put together the paperwork to complete this transaction, not have to worry about being an expert in paperwork? Yeah, this is the guy. Listen, I'm going to look straight at the camera in this because, listen, I am telling you, this is huge. Our job is to find amazing deals. Our job is to serve. We go toe to toe, face to face, voice to voice with these property owners and we help solve their problems. When it comes to all of the technicalities, rely on the people that deal with the technicalities all day long. That's the title company.

Absolutely.

So smart.

Yeah. And communities so powerful in being able to, you know, build what you might call your power team or your team around you with the specialists that you outsource. And some of these are transact relationships where it's a dollar for a, for a service. Some of these are transformational relationships where you develop with, with your community. I, I knew that Driggs had done, done work, constant closed work with them on, on some deals of pace. In fact, Dylan Good's deal was done through there. I think that's the first time we had really become aware of them. Sure. But then finding the realtor, that was through a sub 2 student as an exp agent in California. She put me in touch with John Abertucci and the Pam Jones team. They took care of me and they even met me up there on the second visit when I went up to the Thrive conference. We walked the property for the first time with the contractor and the realtor. Just that they had eyes on it. They had already brought me comps to show me that there were other properties that closed in the area since I'd been looking and there was a bigger upside than we were thinking of initially. And like you said, pulling the specialists is who not how.

It's who not how. For sure. I really like Constant Clothes. Rochelle, the Constant Clothes, phenomenal. She knows everything, has every kind of paperwork you could need. I think it's about four or five hundred dollars a transaction. You can use TTP if you want to. I think you get 100 bucks off with Constant Close. But any of those specialists, anytime you're running into these situations, they can help you out. And then they come in, give you the paperwork, get it all signed, organize it, turn it into the title companies that work with it. It's phenomenal. So if you don't want to go around or you don't have a referral, a lot of people don't have referrals for escrow officers. Constant Close guys, Constant Close. It's phenomenal.

The great thing, a lot of people, and I'm sure a lot of your guys are doing virtual wholesaling. We've got a great guy called Michael Peace on. Who's one of your students calling for a buddy of mine, Steve Carr, Steve Crawford. A lot of people are working virtually. Do you know every title company in the country?

No.

I know a few of them that I need in Phoenix. I know American title. I know Title alliance of Phoenix. But you know, when you've got somebody in Alaska or something like that, you don't want to do the legwork interviewing and looking up and say, oh, subject to the league. We can't do that here. When you know you can do it. Yeah, you just want to use your network and your contacts to be able to connect with the right people quickly and efficiently. And if they can offload from your work, then, you know, that's something they do. They specialize in. They do it quickly and efficiently and take that efficiency, you know, give you that efficiency by being efficient themselves.

Yeah. And you guys met on wholesale hotline, correct?

Yeah, yeah.

Every Monday night, 5 o', clock, Arizona time, Wholesale hotline. Check us out. Brent Daniels, YouTube channel. Jamil Damji, YouTube channel. Pace Morvy, YouTube channel. Either one, you can check us out. So what you squatted up in the comments?

Yeah. So I don't remember what exactly what the question was that I was asking. I think it was something to the effect of like, hey, how does a new person who's like brand spanking new has no idea with anything. How do I get in contact with somebody who knows something and then, you know, just match it up, you know, Because I'm like, I don't have a lot of. A lot of value to offer. Cause I'm brand new. So how, how can I squat up with somebody? And Tristan was like the first person to answer me. And so then from there, like, we had a call that night and talked a little bit. Life Talked about, you know, what's going on. And then I'm like, cool. I've got, you know, Tristan's contact. And then, you know, it came in handy months down the road.

How many amazing people have you met from that?

So many. The power of squatting up. I mean, that Creative JV group that I put together was for the purpose of bringing the PB&J fan clubs together, collaborating and any, you know, the disruptors, everybody to just bring that community and expand it. Not to take away from one, but just to enhance and bring our skills to your skills, to their skills.

And yeah, we find the deals and then when we need to get creative, they come to you, right?

Yeah.

And then that's phenomenal. What is that group? Tell everybody how to find that.

It's called Creative JV. If you go to, for the Phoenix chapter, it's phxjv.com It'll take to a meetup.com page. Okay. We've got groups in Southern California, socaljv.com Northeast JV, which is New York, New Jersey.

Yep.

We have Tampa JV, which is TPA. JV. We kind of go by airport codes generally. Hou JV, which is Houston. NorCal's coming online. We've got Wisconsin. We're going to bring online Hawaii. So that's hnljv.com that's Tristan and Kamahi over there. We just got a, just a growing network so we can put, you know, new people like myself at one point, Christian at one point. But it's just bringing us together. So we got a local space to be free and collaborate and leverage each other's skills to do deals we couldn't otherwise do on our own.

Love it.

Love it.

So let's get back to the deal. So you've got this wrap. You have the title company deal with the paperwork. You've got this thing in at about 3, 13ish, right. And then you see that this property is beat up. You've talked to a contractor and a real estate agent, all connected. And what do they say? How much work does this need?

I, I came back to Phoenix. I, I actually use my contractor for Phoenix. He drove up there.

Okay.

They stayed in Vegas and did the job. But we, we met him up there in November. We estimated about $30,000. And it would have been that had we not had a bit more work on the pool to do. Is one of his family members is in Vegas as a pool guy. He came around and looked a bit afterwards we had another sort of 4 or 5,000 to spend on there. And just looking at the comps from the realtor. And this is the value of the collaboration between investors and realtors. They can give you some real detailed knowledge on the local market. And you know, most investors know this, but maybe newer ones that are doing flips don't necessarily pay attention to this. What are the cabinets in the kitchen? They refinish cabinets. Are they brand new cabinets? You got to look at these different things. Is a brand new bathroom, Is it a refurbished, you know, existing bathroom? Those are little nuances you need to look at to see where you need to make your spend sure to maximize your return on your investment. So we decided that with a couple of comps that were coming online, they had had new kitchens. So we decided to do new kitchens. So we ordered them from Highland down here. My contractor picked them up, flat pack, built them up there. And also, in fact, the countertop was installed from here because, you know, with most things there's a long wait time on these things. But we knew we had availability to the. For the countertop guy, he could drive up there, measure it, come back, build it, drive it back up in a quicker time than we could source it.

Sure.

From nice vendor that we didn't know may be reliable or may not be reliable.

You know, time matters because you're paying that. You're paying that VA loan every single month. I mean, that's just coming out of pocket. It's just straight out of pocket, right?

Yeah, absolutely. So, yeah, so we ended up spending about 45,000.

Okay, so three. Let's just keep tabs here.

Sure.

313, all in price. 45,000 that you put into the rehab. Did you raise that 45,000 or did you just come out of pocket that 45,000 too?

I raised 30. I borrowed that from a sub 2 student. We support each other and collaborate on. Absolutely. So Eric Davis lent for this one we went through that was the first time he had lent. He does flips himself, but he's always doing the work himself. So this was an opportunity to team up on a flip where, you know, he participated from a lending perspective and, you know, he got a different view on the situation. Now we're looking to do more flips together where we bring in a crew, maybe work together on the lending and the, you know, the other sides of things. So, yeah, from 30, it went to 45.

But real quick, when you're raising that 30, what does an investor expect as a return? You know what I mean? Is it a flat fee? Is it a Percentage is it? Do they get a slice of the deal? How do you, how did you set this one up?

It all, it all depends. Different deals. I mean Pace is doing the Gator method, he's teaching us other things. But in this case I think that he was on 12, 14 interest all paid at the end.

Yeah. And so deferred interest payments. Deferred interest, which is fantastic. Which, you know, that's, that's how I lend out to Luke Rothfold and the Viking boys and some incredible Omari and Tyrone and in Indianapolis, they just pay me at the end of the end of the year type of thing and so. Or the end of the transaction and it just works out better for the investor. I don't think a lot of investors want to get like, you know, money coming in every month, you know, just to do it.

So you add me to your list if you're going.

Yeah, there you go. If you're. No, and I'll tell you why in a second.

The.

Most of them want it deferred and that's the way that you should approach it. You know, we'll pay you at the closing so you're not having to come out of pocket again each month.

And it's not so bad on a smaller borrower like this. But when you're looking at larger private money loans when it could be a thousand dollars a month, that really does add up. But for, you know, 30,000, I came out of pocket for the other 45. The other 15 I came out of pocket for the closing costs. It just with everything going on, I had a couple of other deals I was working on. My mind wasn't on it and I didn't include the closing costs in the loan. So it just came across that way. So out of pocket, five grand for closing costs, give or take 15 for their 30. So then 8% cost of sale.

Yep.

Which we'll come to in a minute, I'm sure. But yeah, it was a very smooth transaction. And we had a bout of COVID during the renovations which was a little delay.

Sure.

But yeah, one of the things that we found were a bunch of friends behind the kitchen cabinets when we pulled out.

What kind of friends?

Oh, sort of eight legged friends or six legged friends. The cockroach type.

Ah, those kind of friends.

There was thousands of these just came out the woodwork. So we had the bug people in and all sorts.

So, so you're 313 45, 358 into it. You've got some costs here, but what'd you sell it for. Right. You sold it.

We did sell it right on the.

Market with the agent.

Yeah. So whilst we were in December, there was another comp that that sold, which was great. It was a model match, and we were looking at prices to list. We were talking about maybe 440, maybe 435. Then we thought, well, maybe 450, but we said, let's just do 445. Yeah, it'll keep it a little bit low, below that threshold of the four and a half. Yeah. So we listed at 4:45 before anybody had visited. The next morning, we got an offer for 465, and they wanted us to take it off the market. It was a Wednesday.

Sure.

So I said, well, no, we're not going to take it off the market. If you're serious about it, we want you to obviously come and see it.

Yeah.

But we obviously want other people to come and see it as well. So by Friday, they knew we weren't going to take it off the market. They had an open house. We had four offers by Sunday night. And the original offer went up to 470. Waving contingencies. And that was the final number that we settled on.

So 470, you're into it. 458. It costs you 8%.

358.

358. 470. They cost you 8% to sell it. What'd you net on this thing?

I got a check for 108.

$108,000. Come on, Tristan. We've been waiting for this, baby. Come on, ring that bell. And for referring the deal over and just passing over the information, squatting up. What'd you make?

I made 2,750.

There we go.

Yeah.

Fan.

And that's for. And that's for probably max three hours of work right on my end.

Right. So what'd you learn from it?

Learned a lot. That squatting up is powerful. It's good to have. It's good to have the community.

Yeah.

So, you know, it's. It's. It's different for me, like getting used to the community and stuff.

Yeah.

But it's a valuable tool and you got to use it.

Yeah.

So.

And the great thing was we had Chris over a couple of times during the renovation because I flew up for little day trips just to kind of check in on things. I did drive up once and almost fell asleep on the way up there.

Yeah.

The good teaching moment was we could have a sub 2 and other people meet up up there. We just got Some of the sub two students out right before the Thrive conference, we got them to come around and walk the house and just kind of have another picture on a pre, pre flip house. Yesterday we walked a house Templeton Walkers flipping over in Gilbert. A couple of weeks ago we did one of Devon Burrs. And it's just good to see properties like that. And yeah. You know. Yeah.

Incredible.

Getting around the right people. So, I mean, that's what. That's what I feel like I got to do is just get in with the right group and then all of a sudden I'll assimilate to what everybody's doing.

That's right. That's right. And then when you. When you get around the right people, all of a sudden you start making income. You start getting these big massive deals. And then all of a sudden you're able to grow your team. Right. You're able to expand out your team and start replacing yourself in certain roles. And really it's lead manager, acquisition. I have a junior acquisition and acquisition and disposition manager. And that's why I mentioned that I'm not lending more money now because I go to my wealth advisor. They're like, listen, you're making too much money from this business. It's too much cash. It's just going to go straight to income taxes. You need to start buying more property. That's why I said I would lend you money any day of the week. But yeah, I am looking for properties in Arizona. Yeah, in Arizona that, that either I can develop or that I can buy and hold multifamily.

Fantastic.

Yep.

So, yeah, there's a couple lots in Sandtown. I'm aware of that.

Okay. Yeah. I'm closing on a lot in Prescott to build an eight plex with Luke and Jake. And they're gonna do it. They're gonna. I'm gonna buy it cash and we're gonna split it. I'm gonna have 70% equity, they're gonna have 30% equity. And it's just a phenomenal opportunity. So they get 30% without any money in.

Yeah.

But they're doing all the work.

Yeah.

So those type of deals bring them to me all day long.

Absolutely.

Yep. Yep. Absolutely.

Like we were saying earlier, I've just feel much more in alignment in the last couple of weeks and just some opportunities to come to me, which I'm thrilled about. I'm just bubbling up with it right now. I mean, it's not I want to tell people or not tell people. It's just that excitement of knowing you're in alignment, you know, the right people and, you know, you're in the right circles. It's amazing.

Well, congratulations to both you guys. You know, you really, I mean, you really helped out your co worker, you know what I mean? And it just so happened that it took long enough and they dragged their feet long enough to where there was massive appreciation. You guys got it locked in, were able to help him out, get that, you know, behind him. Not only that, what was it, 60, 90 days before he could, he got that loan back that he could use again. Right. And now he's got a VA loan to use again and move on with his life after the divorce. It's beautiful. It's fantastic. So grass just proves it.

Just proves that leads can come from anywhere.

That's it. That's it. Christian, how do people get a hold of you? How do people squat up with you?

Yeah, so I'm on Instagram. Just search my name. Christian Underscore. Reva Underscore. May. That's R I V A underscore. M A E. So I'm on the Instagrams. Come find me.

Tristan, Tristan Trenberth on Instagram, Facebook. And yeah, just, just look out for me. You can look up at Creative JV Underscore as well. For the group.

Yes.

And yeah, just go to creativejv.com we've got a platform where we kind of put people together. Just moving on to a new development platform right now. So if it doesn't set you up a login, it will pretty soon.

Well, and you've been pushing hard for Community. I mean, you've been pushing hard for Community since they opened up the batch. SMS blast, text blasting. And you've done a phenomenal job. I mean, I have, I've had more people tell me that you've been on the phone with them, really help them out than than anybody, to be honest. So really join the group. Check that out. Everybody check out all of those groups because you do. There is meetups, there is connection, there is face to face, there is getting together. Because like you said, you know, sometimes you don't feel that confident. Sometimes you don't have a lot of experience socializing and especially having conversations with distressed property owners. Well, well, maybe, maybe that's not your superpower. Maybe your superpowers, you know, something else in the business. And you can find somebody at those meetups that their superpowers, the gift of gab.

Yeah.

And they might be like the dumbest person ever, but they love talking to people and they need you to be the brains, who knows? You know what I mean? We'll figure like that's usually me in the. In the partnerships, but it's like a jigsaw puzzle.

You may be the piece in somebody else's jigsaw puzzle they're missing or vice versa or both. It's just finding that, finding that fit.

That's it.

Correct.

Well, congratulations, guys. Over a hundred thousand dollars. So glad that you guys connected. So glad that you guys squatted up in the comments section of Wholesale hotline and now look at it. I mean, wins all the way around. You know, now that it's a fact, you're not just living off of faith that you can do this business.

Yeah.

And you get a big massive.

I've even helped his parents with a couple of deals. Unfortunately, I didn't come through, but yeah, it's just community is everything. That's it. And I think that's my superpower is connecting people.

Yep. You know, I told. Yeah, for sure. Well, that's it. Thank you guys for being on here. Thank you guys for listening. Christian mentioned propstream. If you're looking to find a tool that's going to help you comp your properties and pull lists, check out ttp data.com ttp data.com for that tool. And if you're interested in joining the most proactive group in real estate investing, it is the TTP coaching program. Go to wholesalinginc.com TTP that's wholesalinginc.com TTP. Check out what it's all about. Check out the incredible wholesalers around the country having phenomenal success. If it feels good in your gut, sign up for a call and that is it. I sign off by telling you that I love you and go out there and talk to people. See you later, guys.