Making a $10M+ Offer From The Boat // Tyson Smith & Matthew Tooker

Well, I put it out to people. It's $15 million. If you don't like it, make me an offer.

$15 million.

Oh yeah, oh yeah.

Oh shit.

All right, let's do here.

Okay, yeah, yeah, yeah.

What's going on guys?

Tyson Smith here with Matthew Tucker, and we are on the hunt for our next luxury wholesale deal targeting $100,000 spread. So because we're in luxury wholesale and we don't have to be chained to our desk cold calling for 8 hours a day, we're going to show you exactly what our day is actually going to look like. It's going to start by us first determining what market we want to decide to hunt to. We want to hunt in today. Again, this can be done entirely virtually. So we're actually looking at places right now on the East Coast. Trying to identify a goldmine market. Um, inside this goldmine market, we will identify the best neighborhoods to pull a list in, and we're gonna do all of that live right now. So we're gonna figure out, okay, where are custom home builders and big luxury developers actually building these multimillion-dollar homes? And then we're gonna figure out which ones are in neighborhoods where we can get deals under contract for around or even more what Zillow says their property's worth. Then we're gonna send out a marketing campaign to see who in those neighborhoods actually would be interested in selling. And then we'll go ahead and call some leads. However, the nice thing is we can go ahead and set all this up here, and then Matthew had the great idea that while we're waiting for people to raise their hand and be interested in selling, we should probably do a little bit of wake surfing.

Oh yeah.

So we're gonna go ahead, send out the campaign right now, and as we're waiting for people to reply, we'll go, jump in the truck and head to the lake. However, step number 1 is we do have to find some of these properties.

Before we get started, I have a little something for Tyson Smith. We just hit a revenue mark that we were trying to get to when we started all of this, so I have a little, a little something for Tyson Smith I picked up yesterday. Let's see what he thinks of this.

You are fucking kidding me, bro. Are you serious? Oh yeah.

Oh my God, can we show this on YouTube?

I think so. Are you fucking kidding me, bro?

What is this?

Nice little AR with a red dot.

Oh my God, bro, no way.

He was just talking about his gun safe too. I know, I know, it's crazy.

I was like, did he see that shit, dude?

What, what What kind is it?

It's an LWRC, so it's like a lot of police departments across the country, a lot of branches of the military use it as standard issue. And then it has an EOTech on it, which is one of the best red dots you can get.

Yeah, I've seen that. What the fuck, dude? This is so sick, huh? Thank you, bro. Holy shit. You're welcome, dude. Oh my God, we were just talking about, uh, I'm setting up a bunch of gun safes in my house, and, uh, I fucked it up real bad.

But, um, I actually called your dad yesterday. I was like, hey, is he gonna be fine with me giving him an AR? Like, is Meredith gonna be all cool with that? He was like, oh yeah, yeah.

He's gonna want to come fucking look at this, dude.

Thank you, bro. You're welcome.

This is so sick. Holy shit. Wow, that's crazy. You just been holding on to this?

Yeah.

Oh my God, we can't show that on YouTube, right? I don't know.

It's a Nerf gun. It's a Nerf gun. Yeah, you don't see the orange tip? Yeah, we spray painted a Nerf gun black, YouTube. We're all good here.

Holy shit. Okay, now we gotta go shoot it.

I know, that's why next video.

Next video, I guess that makes sense.

Let's also—

that adjustable stock.

There you go.

Yo, no way!

You can turn the brightness and stuff up and down on this thing.

That's so dialed. What'd you say, dude? What is the name?

It's called LWRC. They make— they like put really nice triggers and stuff on all their guns. I'm gonna make sure it's empty. It's never been shot before, so squeaky clean. But their triggers are like so light and so easy.

Dude, this is fucking incredible, bro. Thank you again. Holy shit, I've been needing one of these.

I know, I was like, I know you have some pistols, I don't know.

Exactly, I need some actual— I've got like a couple shotguns for my like, you know, big boy stuff for home defense. Yeah, but this is way better. You need to be peeking corners at my house at night. I gotta get this fucking magazine out here.

While you're doing that, we just found a crazy market. Yeah, here, I don't wanna— I'm not gonna say the place out loud, but we'll, we'll kind of show you guys what we're seeing here.

We'll drop it to our, uh, to our Academy students.

I mean, we're seeing an area right here where there's $3 million new builds happening. And there's lots right around it with zestimates of $185,000, $190,000, $205,000, and then there's just 3, $4 million new builds in that, in that same exact pocket. And that's exactly what we look for. They have to tear down these old houses. And when we look on the East Coast and in the South and different areas, a lot of these houses, um, the older ones at least, were probably built, I'm gonna guess, in the '30s, '40s. Um, let's see if there's even houses on some of these. A lot of these are lots, which is interesting, but I mean, we can still move a ton of these. Let's see what one of these guys paid. They paid $437,000 for that lot, and there's lots all around there that are the same size for $200,000.

These estimates are all— there's even some that are less than $200K.

Yeah, this is going to be a gold mine area. We're definitely going to pull this list. The great thing about Luxury is we can pull a list send it out. The techs take a couple hours, they— it's kind of a drip that they start to go out to sellers. We're gonna go out, go to the lake, wake surf, have some fun, and then actually probably call some people from the boat. That's the great thing about the luxury space is everyone that raises their hand and says they're interested in selling, we can just shoot them a call, we can run numbers quickly, we don't have to ask them all the questions about the condition of their property like people are used to doing. We can give them an offer right away because we already see what developers are paying for other stuff, and our buyers are the people that are actually building these ones in the neighborhood. It's an easier process than everything else, and we're making 6-figure spreads. So it's pretty awesome. I love finding new areas like this that have Zestimates that we can come in and offer people a couple hundred thousand above Zestimate, because not only are the sellers going to be happy, but we can come in and make $100,000, $200,000, $300,000 assignment fees left and right. To the average viewer, they're hearing you say that, they're like, what? That doesn't make any sense. Why would a developer not go around you and kind of just get a better deal? So the developers, one thing about them and why they don't go around us is they're focused on what they're good at, which is building homes. They have enough on their plate between raising capital for these builds, managing all the subcontractors on multiple builds going on, then trying to hire agents to sell those houses, dealing with change orders from people that are putting offers in on these homes. There's a list of things that they have to do on a daily basis. And their specialty is not doing marketing and talking to homeowners. They don't have the time to do that in their day. And I mean, their time is so valuable to them. On a lot of these projects, they're making 7 figures on the back end, on almost all of them. When someone's making 7 figures on the back end, do you think they're going to care about paying someone $100,000, $200,000 on the front end? Of course not. And they would have paid the agents involved in that transaction that commission anyway. So we can come in subvert all the agents involved in the transaction, get these properties locked up direct to seller, and then assign them to these developers. And they love it because they don't have to do any work. They have people like us that bring these properties to them on a silver platter. We already know the numbers, uh, that they're paying in the area because we can see other builds that they have and what they purchase those for. So as long as the numbers work for them, they don't care what we have it at, guys. I mean We have assignment fees all the time of $100,000 to $300,000 where builders say, "Oh, good job. Happy for you." They don't care because that's so minuscule in comparison to the $2 million they're going to make on that build. That's what I love about this space so much. On a traditional house that's $200,000, $300,000, $400,000, $500,000, there's not enough mark— you would have to get the property at 30% of its value to go make a $100,000 assignment fee on it. Flipper is probably gonna be pretty pissed when he sees a $100,000 assignment fee because he's gonna go make $40,000 taking all the risk and doing everything. That's why people's assignment fees keep shrinking and shrinking and shrinking because they retrade terms on everything because flipping has gotten a lot harder. The margins are smaller. But in development, when you can maximize the building envelope of a property and build on a half acre, 5, 6, 7,000 square feet, Instead of trying to remodel one of these older homes that was built 50 years ago that's 2,000 to 3,000 square feet, they can actually maximize their, their out on the back end and make $1,000,000, $2,000,000 building one of these. And it's a very high level of real estate, but again, the only place you can make luxury margins is selling luxury goods. Who said that? Bernard Arnault. He owns all the LVMH, all the different, uh, luxury companies out there. And it's so true, if you want to make the most money you can in your industry, you have to be at the highest level. And the highest level in the real estate industry is 100% luxury real estate and everything that's, uh, going $2, $3, $4 million and up, all the way up to $30, $40 million these developers are selling these homes for from the lots that we sell them. So It's the best place to be. I'm sorry I've missed you. Please leave me a message and I will call you back as soon as possible.

Thank you.

And I mean, these developers, the ones at the highest level, there's a lot of guys who will do, they'll take down 3 to 4 deals a month. So that's 3 to 4 chances to make $100,000 to these guys every single month. And in any given market, say Paradise Valley, Arizona, there's 15 to 20 developers that are actively looking for deals all the time. And then out of that 15 to 20, there's probably 5 of them who are taking down 2 to 4 deals, um, every single month. But again, these exits on these deals in Paradise Valley specifically, they're $10 to $20 million, um, on average. So that's a very high level. When you have 20 projects going on in a year, I mean, you're talking $100 million in development going on. That's a lot of money. Um, but then there's always the, the guys who are just starting out who do 2 or 3 projects a a year. And we can sell to those guys as well. And sometimes they have more of an appetite because everyone is used to going to the big developers in that area. And when you can find some of these small guys that are just starting, they're so hungry for deals that sometimes you can make bigger assignment fees through them. So there's, there's enough money to go around in all these markets and enough buyers to satisfy everyone that wants to get into this space.

So I just called the developer who built this house right here. It's currently for sale for $4.5 million. He didn't answer, but he texted me back immediately, said, "Hey, can I call you back later?" And I'm just saying, "Hey, my name's Tyson Smith. I specialize in finding off-market high-end developer or development opportunities for developers and custom home builders. I saw your project at," and I said the area that it's at. And basically, in order to build a relationship, I'm gonna say, "Hey, do you have an appetite for more deals in this area?" If he does, like, "Hey, what exactly are you looking for?" And then boom, we can pull him a list right now. Hey Rachel, my name is Tyson Smith and I was just looking at, uh, some of your guys' projects in Asheville, North Carolina, specifically in The Cliffs at Walnut Grove. So I actually specialize in finding off-market opportunities for high-end luxury developers like yourself. I was wondering if you had an acquisitions department or somebody I could talk to about sending over some deals? No, we actually just like—

we—

I run a full acquisition team where we go and acquire deals specifically for custom home builders. Just, you know, if you guys have a certain criteria of like, hey, you know, we want to build some more in this area, then we can go find you discounted properties.

It's funny how often these people seem shocked when we call them and say, "Hey, we want to find properties for you." They're not used to hearing it. Um, and they're not used to hearing it because no one's doing it except us in the space. We can't cover the whole entire United States, and that's why we need more people like you to come help us. We have developer relationships all over, and we need more properties for them. So when we get people in the program, they bring us deals, we assign them, And I mean, we're splitting $150,000-$200,000 assignment fees all day long with students. So that's the great part about it. But I heard her tonality on the phone. You guys couldn't hear it because it wasn't on speaker at first, but she was like, "You want to find properties for us?" And we were like, "Yeah." And she's like, "Oh, okay, that's perfect. I'll connect you with our head of construction." And these people just aren't used to having other people bring them properties like this, so they're happy when that happens because they don't have to go do the legwork and try to find properties that are on MLS and not get a great price for it. We can supply all the demand that they need.

A quick tip, and this is where I'm seeing like a lot of newbies go wrong, is I'm gonna send him this email. If I don't get a response, you best believe I'm gonna be calling him again and I'm gonna be sending him another email until I get a response.

It's so crazy what you can get in some like different markets across the country for your money. Like, you can get a brand new build that's 5,000, 6,000 square feet in one market for $3.5, $4 million. You plop that same house in Newport Beach or Scottsdale, Arizona, or some of these other markets, and it's 2 to 3 times that price. The great thing about what we have is we have so many developers that are so happy with us, um, from what we've been able to provide them, that I could get a developer that we sell to a lot in one market to jump on the phone with me for 10 minutes to talk to a developer in another market. And as soon as they start talking, they're going to realize, okay, this guy's credible, he's doing a quarter billion dollars in development, and he really likes working with Matthew and Tyson Smith and what they have going on. And it's just instant credibility that we can use. So we can use a lot of third-party stories from people that we've worked with in the past. And even though we're making these big assignment fees, these people still love working with us. And they don't, they don't mind us making $150,000, $200,000. I've had, back in the old days before I got into luxury and found this amazing space, I would have buyers see the settlement statement, see a $20,000 assignment fee, and they'd be unhappy with me because I was making too much. That doesn't happen anymore, and that's the best part about it.

So I really like this market right here that I just found. We can see we got this property, new build for sale $5 million. And if we come down, we can see that it was originally— the house that was on this property was purchased for $2.3 million. Knocked it down, they built this one. Um, we look over here, this one that's for sale for $7 million. Now these, these lot sizes, so crazy tiny. Um, so we don't even really gonna have to filter for lot size because it'll be that. But this one's $5.2 million. Um, we got this one at $6.8 million. Again, 9,000 square feet, and it— does it not have any price history?

I don't think so.

Nope, no price history on this one. Um, but if we scroll in, let's just kind of see. Okay, so we do have stuff— $1 million. Like, for instance, this property, the, this estimate is $1 million. It's because it was built in 1957.

7,400 square foot lot though, just like the other one.

Uh-huh. So, you know, you want to look around and see like, okay, are they giving me more of these? Because so, like I said, you know, these properties have sold for around— this one was what, 3? Okay, so this one sold for 5.2. And like, if we look around, like, look, look at these estimates of all these properties.

Yeah.

So what we need to do is kind of identify on these ones that are for sale for below $4 million, when is the year built? And it looks like they're all going to be pre-1960. Now notice I'm not including right here because these properties can all see the water, so there's going to be like a different— I guess we actually can pull it, we're just not going to give a specific price. Yeah, but I'm going to just grab everything right here.

It's a huge premium in a lot of different markets, Florida, California, if you're on the water. And some of these are on a channel that leads right out the ocean. So you can have a dock with your boat that you can pop right out to the ocean. You have better views. So there's definitely a premium for that. So we always make sure that when we're pulling a list that, um, there's going to be certain properties on it that are significantly worth more. We don't want to give those people an offer that's the same as what we would offer someone that was inland and not on the water. So we're still going to pull that list. We're just going to make sure that we're not giving an offer directly to those people because it's going to be higher if they're on the water.

So all we did is pop over to, uh, Virtual Flip Leads, and we just need to look and see, okay, here is our area right here. Um, and I'm just double— I'm just cross-referencing back and forth from Zillow because I want to see exactly where it ends. So we're kind of Santiago Drive here to Westcliff, which is 16th Street. So first thing, we got to find Santiago, which is right here, and then 17th. So it's going to be this little box. So I just go to boundary search, click this, and I'm going to—

oops—

click this. I'm going to draw a boundary all the way up to Santiago, down, down, and then boom. We got all those properties right here. From there, we're only looking for off-market properties.

Damn, 5,000 properties in that little area.

Yeah, she's— well, they're each 7,000 square foot lots. Crazy. So we're going residential, uh, year built, we want pre-19— I'm just going 1965 just in case.

We always give ourselves a little bit of room if the average we're seeing is '58, '59.

We're still at 3,000.

Damn.

Um, and then we don't even really have to mess with lot size because they're all the same. And then just years ownership, um, which is going to be a minimum of 5 years. So we're going to go ahead, save this list. As soon as it's done saving in Ben's Skip Trace, we're going to export it and we're going to run it through our Sniper marketing system. So we're going to figure out everybody in this area who'd be interested in selling off-market, and those are the people we'll call.

Dude, these are candy, but they're, they're grapes with the sour stuff on them. Great for the lake. We're going to Bartlett Lake, so we're gonna pull up, wake surf a little bit, call some homeowners while we're on the lake. There's perfect service there. It's the best of both worlds. We can have some fun and make money.

Somebody already text me back a price, dude. As you can see, so the app actually works super well. We come through, so we got people, you know, no, not interested, fuck you, right? But look, you also get people like this, $3 million, right? And this is literally in that same neighborhood. All I do is click info right here, pull it up on Zillow, okay? So they're asking $2. Or the assessment's $2.6. So most people are going to look at that, no way I could ever do that, no way I could ever do that. But more than likely, that could be a deal for us. So we'll call them later and we'll find out.

It's on discount today, $5.99 a gallon. Open up the Strait of Hormuz, give me that low gas prices. I try to fill it up every time, even if I don't need that much gas for the day, because the more weight that's in the boat, the bigger the wave's gonna be while you're wakesurfing. Liquid weighs a lot, so if I can fill up the whole tank, even if we're going out for a couple hours, it just produces a better wave. So I always fill up. How long have you had this boat? Like, what made you get it, that kind of stuff? Well, we actually got it while we were engaged. We just, we were tired of having nothing to do in the summer, so we decided to pull the trigger on the boat. Everyone told us, "Don't get a boat, it's a horrible investment," and I still will stand by this. I think it's one of the best investments I've ever made. The fun I am able to have on this thing, how much fun I'm able to have for other people, when we bring them on the boat, my nieces, my nephews, seeing the smiles on everyone's faces makes it worth it, and it has paid off. I would buy it 10 times over. I love it. The bounce bags fill up and we're ready to roll. All right, you think you get up first try?

I think I can get up first try. Whether I can stay on, that's a whole other question. Yep.

3, 2, 1, blast off! That was awesome.

You good?

That's gonna be the thing where I do it like 3 times.

Bahaha.

So you want weight on your front foot, like for it to go forward, and then back foot to slow down, and you'll find that perfect balance. In between. But I like that, like, I have a little bit of weight on my front foot, just enough to where, like, I stay right in the spot I want to. Should we take a quick break and see if some leads came in we can call?

Yeah, let's check it out.

Tyson Smith can call, I can comp right here from the boat, from the lake. We can call a couple leads, talk to some people, run some numbers, give out some offers, send out some contracts. And then go surfing again in 30 minutes.

No, we aren't interested in selling. Sorry, but not interested.

Good luck.

No thanks. Reported this number for spam. Oh, are they opening— are they open to partnering on the upside?

Do you guys ever do deals like that? Yeah, absolutely. Where they get a piece of like the after-development sale?

Yeah, because they can just, uh, like subordinate the lot. And then it is, you know, massively beneficial for the developer because they don't have to pay interest on it, you know.

You can actually give a seller sometimes more than what their property's worth a little bit because the developer would have paid hard money interest payments that whole time during construction. So say a property's $3.5 million, the developer could sometimes JV or joint venture with a seller, give them $3.8 million, but they'll get that $3.8 million when the property sells. So they'll be in first position, they'll get their $3.8 million, and then they'll split profits on that deal 50/50 with the homeowner. So if someone has a property, they don't need the money, they don't live there, it's a second home, we can actually partner with the developer. And a lot of times the developer will pay us more than a couple hundred thousand dollars on the back end after they get their profit. So we'll essentially be part of that deal at that point. They'll give us equitable interest in the deal. We show people how to do that. To where you— they'll put you on the operating agreement for the entity that they use to buy that property. So say you have 5% ownership in that property and the deal nets $4 million profit for a deal in PV or something like that. We would make $200,000 as 5% of the $4 million profit. Yes, you're not going to see it until the deal is done, but you know what, I'd rather have $200,000 a year and a half from now than $100,000 now. So when you can start to do some deals that pay you in 45 days and then have some deals stacked that pay you a year and a half, 2 years from now, that's when you can really start compounding on top of each other. And I don't know, I love to have money coming in that I know 6 months from now I'm gonna make a couple hundred grand. What's your typical response rate on text?

10%. For every, you know, 10 texts you send, 1 person's gonna reply. Of that, the majority are gonna say not interested, wrong number, whatever. But it doesn't matter. I mean, the whole reason we text isn't because to get a great response rate or anything like that. It's so that we don't have to spend all day cold calling. And on top of that is that oftentimes these areas that we're looking in, you know, these are all multimillion-dollar homes. It's a lot of high net worth sellers that are never going to answer a cold call. However, they're going to read every single text they get. And that's why we craft our texts in such a way that immediately establishes that we're a serious player and we're not going to waste their time.

Right?

And that's exactly what we teach you how to do inside the Academy, where we show you how do we actually send these texts. Because if you just say, hey, would you be interested in getting a cash offer for your house? You're getting ignored. There's an art to it.

Hello?

Hey, how's it going? This is Matthew Tucker. I was calling about your property on Rubicon.

Yes.

Just wanted to check and see with you if you had any interest in selling that.

Have you driven by the property or do you know anything about it?

I have, yeah, yeah. It's 2.5 acres. From all the developers that I work with, I think the play would probably be to subdivide it up into 2 different lots.

It's actually 3 available lots.

At 3/4 of an acre each?

No, it's 0.7 in Arcadia.

And your property's 2.5, correct?

Correct.

Okay. So did you— are you— do you currently live in the house?

I do.

Okay. And has selling crossed your mind at all?

It's—

there's a sign up for sale right now. It says it's available.

Okay. By owner?

I'm the owner.

There you go. No agents involved that you have to pay.

So I know a lot of the developers, they've seen the locals. Some of the locals have seen it. They obviously drive by, they know what's going on. But if you have something else, you know, I'm all ears.

Yeah, I work with a lot of the local developers that I'm sure, um, you know, like I mean, fucking all these guys, and I helped source a lot of their deals, and I've sold numerous deals to all these different guys. But then I also—

go ahead.

Robert Jaffe came here the minute this sign went up. Jaffe came over and said, I may have a client, and I know it was Trevor.

Yeah, he's selling one over on Meteo right now for Trevor, I believe. I have some other out-of-state clients as well. There's a lot of new developers coming in from Washington. And some of them have an appetite to pay a little bit more than some of the local developers. So I was calling to check in, see your interest, see if you had a number in mind. See if we could possibly work something out.

Well, I put it out to people, it's $15 million. If you don't like it, make me an offer.

$15 million?

Yes. There's 3 lots here. And right north of me, Steve, what's his name, oh, Harris is asking $3,400, $3,500 for a question, a lot that's not as good as these three.

Yeah, $3,500 for 0.8 acres, I see.

Right.

I think we'd probably, if we were to split it into three, I'm like, what I think I could move them at, that lot's not as good because it's closer to Camelback. Obviously you get a little bit more road noise, um, but if we were to split them into 3, we would— would you ever be open to a longer escrow period where we could have the time to get the lot split during, during escrow? Because I think we'd be able to get to a higher number if we were able to do that and have the certainty that we can for sure get it split.

What's the time frame of those?

Typically, um, it's taking right now anywhere between 3 and 4 months.

Okay.

Um, to get like city approvals and everything. So if we could have an inspection period, um, that we could get some due diligence done and then have an extended escrow period that would end as soon as we got, um, permits and approval from the city to split them, I think we'd be able to, um, pay a little bit more just so we can have the certainty and we don't have the holding cost the whole time we're trying to split them.

I have no— I can certainly handle that. Um, I do want to know that I've got some deposit in my hand, that if you fail, there's a penalty. It's got to be— I mean, you want me to tie this up? I'm not interested in tying it up if I don't have any guarantees.

Yeah, so the, the guarantee that I could give you is we would probably be able to put down non-refundable earnest money And the only way we would get ours back is if we weren't able to split it. So we'd put a contingency in the contract that said if the only way that we're able to cancel is if we get denied the approval to split it into 3 lots, other than that we'd move forward. Is that something that would interest you?

I'd take a look at it. It's all again what the price is.

Okay.

I know it's a matter of Either it's a developer, I'm gonna make him pay me for 3 lots. He's not gonna tell me it's, you know, I've had Katrina Barrett come in here with her clients and tell me how it's only worth $6 million because it's, you know what, it's just a lot with a shitty house.

Yeah.

And so I've heard all the stories.

My wife actually works with Katrina, funny enough.

Yeah.

She's on her team.

Yeah, funny. She marched up and down here for the next week with her dog. Never walked this block before, but she came for the next week.

Well, you can see her coming from a mile away. She's pretty tall.

Oh, it's so funny. Small, small world.

I know.

Yeah, so I mean, you know, the players all know about it. I'm sure they've talked to some of these developers right now. I'm guessing some of them are— but if you got out-of-state ones, they're probably better because these guys For sure.

And they—

a lot of the—

I work with a lot of in-state guys that I like, that I'm friends with, but some of the out-of-state buyers have a little bit bigger of an appetite that want to invest in a better market than Washington. So a lot of them are moving their money down here and paying premiums for stuff. So those are people I am actively working with. So I think— I know you've talked to a lot of people locally, but I think we'd maybe be able to get something done with someone from out of state.

Yeah, I don't know. I just say, as I say to everyone, you know, Katrina gave me a story about how this guy's family's here and he'd be such a nice fit for the house. I don't give a fuck who buys this house. All I want is the highest price.

Yeah, you know, that's all that matters at the end of the day, huh?

No one gives a shit about me and my property here. Yes. So I'm just ready to move on. So yeah, I'm I have— I'll listen to any deal. It really comes down to price. I know it's, uh, developers are gonna— I'm making them look at 3 lots, and I think the real buyer is an individual that says, what's— what do you want? Yeah, he just wants the biggest state view, and he may even buy that lot in front of me and just say, I want the whole thing, and that's that. Yeah, he's the guy who's gonna pay the premium for sure.

Yeah, yeah. And the good thing about having 3 lots right next to each other, obviously, is you can You can kind of set the comps as you go. After one sells, the other two usually go pretty quick after you set the bar in the neighborhood.

I don't know if you've walked the lot, but you're welcome. You have my blessing to walk down the driveway and just behold the view.

Okay.

As people say, I've had so many people just say, this is just— it is— I'm numb to it because I sit out here all day like I am right now looking at it.

Yeah.

But it's, it is truly a, you know, end-to-end view of Camelback Mountain, and there's no way it's ever going to get obstructed.

Yeah, for sure.

So that's, that's the big picture on this thing, and it's flattening it square.

Yeah, that's, that's, that's what you want. Hillside's a no-go for most people now. It takes too long. So flat and square is good. Then you don't have to worry about any crazy setbacks or anything.

Well, but anyway, Matthew, I, you know, the place is for sale. You know, I've had plenty of people, brokers offer their services.

I bet you have.

Oh, and how many come in there under disguise? Oh, I'm interested in buying it. Well, I can't afford it, but I could list it for you.

Yeah, yeah, yeah.

But I'd say, you know, go out and get your, you know, go out and get offers. Where do you see guys paying for lots right now?

I was thinking we'd probably be in the— if we can split it into 3, I, I mean, the one next to you for sale for $3.5 is like the best comp. I don't know how, how long has it been on the property or on the—

you got those 2 right that sold right on exit, or those selling— I don't know what they sold, $3.8, $3.4.

The, the only thing, that property's been on the market for 236 days for $3.5 million right next to you.

Right. I think the main house just sold. I think it's under contract.

Let me see here.

People don't want it because it's— when you stand there, you can't— you won't ever get a view of the mountain.

Yeah. And you have the road noise.

Well, it's— that house will block some of it, but you build in there, you, you're going to look at that house.

Yeah.

Yeah. It looks like it is under contract, accepting backups right now. But I mean, the, the one at 3.5, we'd probably be somewhere around the same price as that one, like, so times 3, right? Um, I mean, I, I think we'd probably be somewhere in the, in the mid-3s per lot, essentially. So call it give or take $10 million, $10.5 million, um, something along those lines. But what I'm going to do, I don't want to waste Um, that's, you know, I've told people, I said, I'm telling you, it's $3.50 per lot.

And they go, oh, I'm telling you, if you get to the developers, it's a dream come true for them. Yeah, it's right here, 1, 2, 3. And as you say, you raise your price as you go.

Yeah, well, I'm not a, I'm not a broker, so what I'm gonna do is I'll call some of my out-of-state developers. They pay my commission. Um, since it's an off-market deal, there's no closing costs or commissions or anything. I don't, I don't deal with any of that.

Um, I tell you, the local people have all seen it. Yeah, because there, there's so many open houses right next door. Yeah, they all go by it.

Yeah.

And I, I've got enough texts, I could go through the different names of the realtors. So they've seen it.

Yeah. Well, I'll, I'll talk to some of my out-of-state buyers Um, because I, I have some that I've, I've had some local people say a number, and then I talked to the out-of-state buyers and they're able to pay a little bit of a premium. So I'll talk to some of them, and then if it's fine with you, maybe I'll, um, walk the property, take some photos of the view and everything.

Just all you gotta do is text me and say I'm going to be there, there. So if I'm there, I'll say hello. If not, I just know someone's on the property. No problem at all.

Perfect.

If you do, if I'm not here, go in to Go to the southwest corner and just stand there and look, then you'll get a grasp of how big this place is.

Alright, will do. Well, I appreciate your time. I'll talk with some of my out-of-state buyers and circle back with you here either later on this evening or tomorrow.

Very good, thank you, Matthew.

Alright, much appreciated. Hope you have a great rest of your day. Look forward to talking more.

You as well.

All right, bye-bye.

All right, solid.

Yeah, yeah.

And also, I mean, I feel like he— you play ball somewhere at like $10 million.

Yeah, I mean, guys, he threw out $15 million and all of a sudden now it's $3.5 million. Okay, now we're talking. $4.5 million. Yeah, so people hear these crazy prices someone throws out and automatically just discredit it because you'd look for comps and be like, all right, I can't find anything for $5 million per lot. But you can find stuff for $3 to $3.5 million per lot, and I threw out those numbers, and he pretty much said, "Yeah, bring me an offer." So the $15 million is— he's trying to be a gatekeeper and throw out a number to just see who's serious about it, but he clearly has some interest in playing ball. He talked to me for 15 minutes, told me all the details about the property, said I was welcome to walk it. I don't think anyone that doesn't have real interest is gonna let you do all that, so I mean, keep in mind, we're on the lake right now. We were just wake surfing. We were able to make a call from out here. We're going to run some numbers, talk to some of our different developers, uh, and see if we can work out a deal here.

Yeah, why can't we get somebody for $10 mil? Yeah, getting $500,000 off each lot. Yeah, then we make $500 grand. You take $10.5. Yeah, he said himself it's worth $3.5.

Yeah. All right, well, we're gonna call some of our guys, see if we can get someone, uh, good to go on it. He's He acted like he was totally fine to wait until those lots got split, which saves the developer 6 months of carry costs. So if we could do a long escrow and the close of escrow, say, is 3 weeks after we get permits and approval to split those lots, that's where it's real advantageous for a developer. So we're going to see if we can put something together on this.

Are you a realtor?

No, I'm a wholesaler.

Okay, so look, look at Zillow 9790. You have— so the design package on page 3 at the very top, it shows you what the front of the house will look like.

Yeah, the—

I'm going to send you the, the first 3. I'm going to send you 3 pages of the architectural drawings. It shows how, how the house lays out on the lot, the floor plan, and it will also show you some some of the design things that the designer did.

I'm telling you right now, this is perfect. This is exactly what my guy will be looking for. Can you email that to me? He's developed, like, he's done some custom homes in North Scottsdale. He did several in Miami, but he just moved back here. He's an end user. He wants to build for himself. He's like, hey, find me a good lot. And then I showed him this one. He's like, yeah, I like that. But just knowing him, if you have all this stuff ready—

Yeah, I'm gonna send you all that. So text me your address. But dude, it's, it's a 15-day close and it's a 7-day inspection period. And, and honestly, I— no disrespect, I appreciate what you do, I appreciate you— I don't give a fuck. There's so much money in this that I'm gonna build it.

Fair enough.

Yeah, I got you. Or I'm gonna give it to somebody that's gonna make a lot of money because again, 8.5 is everybody's bottom number, 9.5 is everybody's top number. And I can give you probably 4 souls that will show you that it's at least 9. So it's, it's, it's—

I agree with you.

Yeah, yeah, it's, it's— and everybody did. But the problem is, is I got a guy telling me he's a builder and he's trying to sell for 9 or 3, 6.

It's a pain in the ass.

Yeah, I'm like— and I'm so fucking mad. That understand that.

That's why I'm talking to you.

No disrespect.

Hey, no, I get it.

Everybody out there, it's me. I'm good friends with everybody. I don't screw people. But this is, this is, is $9,700. I, I even got— so I bought— so in the design, it's got this tile from, from Italy that I already paid for. So I'll throw that in, um, and I'll go $9,950. And so with the design package that I have and the art and the GC and everything else, he's into it for like 5.8. So he's walking— and, and, and by the way, it's got design plans. The designers will help, uh, pull everything together. It's got landscape design. They order everything as well. That includes the GC fee.

Okay, what's the number? Like you said, 5-day due diligence. All right, I mean, if you can send me that stuff and it's what you say it is, I think we can play ball there.

All right, listen, and I'll even send you over, uh, the, the, the, um, Jesus Christ, the budget. So I'll send you over the budget. So the budget is, is including GC fees. If this guy's a builder, then he's into it for like 9.8, 9.7. 7. So he's in there for 5.6, 5.7. And if he's actually living in it, he walks into it for low— with at low 8.5, he walks into it for $2.8 million. And that's a 2.8. So like I said, you know, I'm not a guy that screws people. I'm straight up. I don't sit here and say, oh, it's worth fucking $10 million. 8.5, I think, is the bottom number. I can show you comps on there for 9.

So I just want to—

I just want to know. I want, you know, you to know.

We got to get back to wake surfing. This guy needs to hurry up.

Honest fucking dude, man, and I don't like to be screwed around, and this dude fucking sent me sideways.

Well, hey, that sucks. Look, I promise I'll be straight up with you. You don't fuck about wholesalers.

I buy from wholesalers. I'm friends with Diego. I'm friends with a couple. I buy from them, so I don't have a problem. But dude, don't fucking sit here.

Well, I'll tell you what, you need to— you got to come. You got to start working with us, man. You got to come to my Well, we'll talk about this later once we get this deal done and I show you what I can do. But then, you know, we'll— we're the guys to get you the deals, man.

Yeah, yeah, like I said, dude, you— I, I, I know all the flippers. I'm flipping with them, you know. I do their cabinets. So I do the cabinets for, for being Blackstone, Brian Patterson. I'm friends with all those guys. They get their cabinets from me. I now do granite. I get granite directly from Brazil and directly from Vietnam. Plus I fabricate and I install. And dude, I got, I got a, I got a robot that does everything. It's the only robot fabricating, uh, thing in, in Arizona. It's been around for 5 years, but it's, it's crazy sick to watch it. Say, pick up granite slabs, you know, cut them all. It'll throw a 3D view up so you can see. So, so it'll set up your house and you say I want the veins to go to the sink, I don't want the veins to go to the sink. We throw it up in the 3D and we still make sure your granite yields you the most value out of everything and get you exactly what you want. So we're like, we just opened up, but we've been around for 3 years, but we went from 20,000 to 100,000 square feet because we're so busy.

Damn, man, I want to come check out that robot.

Oh yeah, everybody does, but listen, You do that deal, then like I said, man, I, I buy all the time. I, I also do hard money, and I have about $14 million of hard money out right now, and every shit took an extension. It's all in good places, but everybody took an extension. Plus I got all these houses I have that are all paid. As you can see, that's paid for cash. You look at 56th Street, paid for cash. Echo Canyon, paid for cash. So I'm not in need. Uh, but like I said, uh, I'm just overwhelmed with the cabinet company, my electrical company, my hard money company. And so, uh, so that's the only reason that I'm like, if somebody wants to buy it for a fair price that they can make a lot of money on, I'll do it.

I hear you.

So what, what, what? Yeah, yeah, so send me a text.

I just, I just texted you my email.

Did you get it?

Yeah, yeah. Well, uh, yeah, hold on, I'm driving out of street. And, and literally, this isn't a, oh, let's go back for $50 grand. It is, it is that number. And, and, and, and if he comes for a dollar less, tell him just to go.

Fair enough.

Just to go find another one.

All right.

Because like I said, the good thing is, is he can start this, right? Like, if he buys it, you, like, you can start working on tomorrow. I don't mind wholesalers. Just say, dude, I'm no wholesaler. You know, and he just lied like all the way through.

Yeah, the worst, the worst.

And I'm like, well, who are you talking to? He's like, Katrina. I'm like, dude, I know Katrina. Katrina said 8595, so you're not talking to her. Well, I talked to this dude. Shut the fuck up, man. And dude, it just like—

dude, it's scrubs, man.

It's scrubs. Yeah, well, dude, it's crazy because like, dude, you're talking to everybody 3 that I already know, and they already gave me a number on it. So now I know you're just— you're full of shit.

Yeah, I mean, I, I—

whatever, man.

Yeah, I, I talked to all of them as well, like, right when I saw it, and, you know, obviously I knew it wouldn't work. But that's why I'm telling you, this guy have— he, he's—

yeah. And please, honestly, the only reason I'm allowing this— I— nobody has— has— I, I gave him 3 too. I already told you that by accident, but I gave him 3 too. 295 is, is, is my last fire, and then I'm just gonna keep it. All right, uh, just so you know.

But dude, here's the deal: do not share that number with anybody but your guy. Okay, you got my word.

All right, man, cool.

Well, look, I'll send it as soon as I get it from you. I'll send over to my guy. I'll talk with him tonight, and then I'll touch base with you tomorrow. I'll shoot you a text. Well, look, I get you, and again, we'll put up money, you know, we'll go hard.

Like, it's—

let me send it over to you, and then we'll see how serious your guy is.

All right, sounds good.

All right, see you, Mark. What was going on there?

So he's got this lot that he was sending around, I don't know what, 3.1 $3.2 million like he said. And so we decided to call him and I don't know, he dropped his price $300 grand. But I do, I mean, we do seriously have somebody that is definitely interested in this kind of thing. And I think he will actually love all this shit put into it.

And people don't normally though.

Max's buyer, I think, would be interested somewhere in the end user. Yeah. Probably like 315 or something.

Is this stuff he's gonna send, is that gonna matter?

What?

The—

all the design package and—

Not too much. I'll give it to him to see if he likes them. The hard thing about plans is every developer does plans like they like it. So plans don't matter that much to someone else. They matter to a developer because if they do their own plans, but people like to be very specific on what they do, so it's hard for plans to convert Bay to someone else, they usually want to start from scratch. But if the plans are good, sometimes you can make some revisions for whatever the developer wants to do, and then we can go from there. So we'll see if we can get something done. But for now, it's back to surfing.

Matthew, what's going on here?

We got a new driver. She's learning. She's got it, just got her permit.

That's pretty cool.

How's the water feel, Tyson Smith?

Feels fantastic, dude. Alright, this is literally like the most perfect weather.