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Real Estate Investing School Podcast
174. REAL DEAL: Building $500k in Equity on My First Deal with Jake Ebert
00:30:21
Welcome to the Real Estate Investing School Podcast. Our guest today is an exceptional entrepreneur and real estate investor, Jake Ebert. At the young age of 22, where most people are still finding their way in the world, Jake bought his first home....
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- [00:00]
A
What's up, everybody? Welcome back to another Real Deal episode with the Real Estate Investing School podcast. I'm your host, Brody Fawcett, and in this show, we try and keep it pretty quick to the point. I say that, and then it's always fun to jam details on these deals, but we specifically talk about one deal. We bring a guest on who's gonna tell us the ins and outs of how they found their property, how they funded it, and how they forced this real estate deal. And so today we have a special guest, Jake Ebert in the house. What's up, Jake?
- [00:38]
B
What up, bro? It's stoked to be here, dude.
- [00:40]
A
Dude. So excited to have you. You are, like, I was going to say a legend, but the. The better word is like, basically people put pictures of you on their wall and say, hey, I want to be like. I want to be like Jake when I grow up. So that's no exaggeration. So we're. We're lucky to have you here today to jam on real estate, man.
- [01:02]
B
Dude, that's nice you to say, because I feel like I haven't even grown up yet. So I'm still trying to get there, dude. I'm still trying to figure out what I'm doing with my life, but I'm super stoked to be here, Obviously. I love hanging with you. Every time I see you, it's awesome. We always jam. We're already talking about our next retreat that we're going on together, that we're going to be roommates. So I always love talking to you, seeing you. So this is awesome.
- [01:22]
A
Thanks, man. Yeah, this. This week, in a couple days, I'm. I'm excited. I can't wait. Hopefully I get.
- [01:27]
B
Get more.
- [01:28]
A
More sleep than the last. The last few times. We just talking real estate all night.
- [01:32]
B
But no promises there. Maybe with this podcast this might help to, like, talk less when we're together, but who knows?
- [01:38]
A
There we go. Well, dude, I'm, I'm. I'm excited to dive into this one because you are. How old are you? You're 20 something, right?
- [01:43]
B
You're not 37.
- [01:45]
A
27. And you have seven. You've crushed it, dude. I mean, you've been. You've been a millionaire for a while now. You've gotten heavy into real estate just kind of. Because you've crushed life and you're like, yeah, I need to figure this thing out. But yeah, like, so the fact that you're young and you're crushing it and we get to learn from you is. Is awesome. But tell us about the deal that we're going to dive into today with everybody, just give us a kind of a summary of it really quick.
- [02:13]
B
You know, you asked me to be on here and I said, what deal? And you said it doesn't matter, whatever one you think is the most beneficial. And so I was thinking through all my deals and the first one, the last one, some in the middle. And honestly I think that just your first deal is always the hardest to do and you're always the most scared about and you're always the most nervous and don't know if it's going to work out and everyone's calling you crazy and that whole stage and so I thought I'd talk about my first deal, the first deal I ever did. I was 22 years old. I had just finished doing a year of summer sales and I didn't know anything about real estate, but I just went out and bought something. So I think I'm talking about that today. That's okay with you?
- [02:53]
A
Yeah, yeah, absolutely. I think you're exactly right. That's like, it's, that's the hardest one to get over for a lot of people and it's the one that builds the most momentum and usually learn the most on that first deal as well. So yeah, dude, stoked, stoked to dive into it. Tell us, tell us. Kind of like the purchase price, tell us, do you still have that property now? What do you do? You rent it out? What are kind of the numbers going into it? And then we'll dive into how you found it, funded it and forced it.
- [03:22]
B
So. Good question. I do still own it. I bought it, you know what, six years, five years ago or so. And I still hold it, still have it and I rent it out full time, like full time. So long term tenants, I thought a lot about doing Airbnbs and short terms and you know, kind of doing some midterm rentals on or something. But the long term rentals have just been so good for me and so easy with it that I just kept doing that. So it's right in Provo, if you've ever heard of it. Provo, Utah. And it is right about probably five to ten blocks away from BYU campus. It's right on Center street, it's right across the street from Pioneer Park. And so it's got a pretty good location as far as long term rentals with college students and young married couples coming in there. And it's a duplex. It's a side by side duplex, two front doors kind of thing. The Old. I think the house was built in 1912. So just one of those old, old houses that nobody you first look at and you're like, dude, you should never buy that thing. But I did it anyways. And so it's a side by side duplex. I bought it for 275. Which. To buy a duplex in Probo for 275, like sounds insane right now, but at the time when I bought it, I remember thinking, this is the craziest thing I've ever done. My family came and looked at it, my sisters came and looked at my parents and they were like, I cannot believe that you're going to spend almost $300,000 on this piece of crap. That's like verbatim what they said. And I was just like, well, I don't know what else to do. There's nothing else out there. Like, this is the best I've found and I can keep waiting forever, but then I'll never buy a property. And there's, you know, the classic. Well, when I bought my first house, we bought a brand new build for 300,000. You're buying a house that's 100 years old for 300,000. Right. So it was just the classic, like the story that we've all heard of. No one can believe you're doing it, but they don't remember, you know, the times have changed, right? And now five years later, fast forward and the times have changed a lot.
- [05:26]
A
Yeah.
- [05:27]
B
So it was just one of those things that I'm happy I did.
- [05:30]
A
What's that house worth now? Just to kind of give context, you think?
- [05:34]
B
I mean, to make that answer make sense, I did remodel the whole house.
- [05:39]
A
Okay.
- [05:39]
B
So I put about 80 grand into it.
- [05:42]
A
Okay.
- [05:42]
B
So I'm into it. 360, give or take like 355. 360. And I think it's worth about 700 right now.
- [05:52]
A
Wow. Okay. Yeah. That's wild. So that's crazy. Yeah, That's a great first deal. No doubt. Well, I want to touch on a couple of things that you said with that because I think of like, I mean it was the exact same way with like my wife. I. When we bought our first house together, it was like, I still remember going to the property, having our real estate agent like show us around and there's, you know, eight or nine other, you know, agents and people, you know, looking at the house at the same time we're looking around and everyone's like looking at each other and. And it wasn't, it was a duplex as well, but kind of not. It wasn't side by side. It was, there was a up and down units and anyhow, dude, same, same story, 155k. And it sounded insane. Like it sounded so expensive. And we're like the only way we're going to get this is if we put a full price offer in. And like at that time it was like just listed at full price offer. Like maybe we should offer like 145 or one, you know, 148 or something. And it's just like you said, fast forward. It's so funny now the way that it works out and that's, you know, it's, it's probably worth 5, 5, 50, $600,000 now. But I think there's a double edged sword with this, right? Because the people that are listening that might take it the wrong way are like, okay, does that mean I can just go overspend on real estate? It doesn't matter because it's all going to appreciate eventually and that's going to be worth a lot more in five years from now. What do you say to somebody that takes your advice and is like, okay, so just go buy anything. It doesn't matter the price of it.
- [07:34]
B
Dude, that is really the whole double edged sword scenario that you just talked about is so true. I have so many buddies that hit me up and just ask advice for real estate or whatever just like same as you. And they always say the market's so high, interest rates are so high, what do I do? And I always tell them to jump in. The quotes that I live by are, you know, don't buy and wait, don't wait to buy, buy and wait. Like that whole idea of don't just wait for this perfect buying opportunity, just buy it and wait for the future to unfold and time to do its job, right? And so I, I still live by that, even this market. And I just tell them as long as you find the best deal you can in the current market, you'll be okay. Like for me I feel like if you just throw a dart at the wall and buy whatever house is hits, you're probably going to, you might get burned if the market changes, right? Or whatever. But we all know all that is like a long term hold. You're never going to get burned in real estate. So that's the first idea. And then second is like at the time 275 felt like a lot, but it was the cheapest multifamily property in Utah County. And so I Just did it, right? And that was like, my whole idea to people now is like, if you can find a great deal, a great deal is a great deal, you know, in different timing, right? And it's so funny because the way I actually found this house, I was out looking at another property in Utah county, and I didn't have an agent and have a realtor. I was just on my own. I was just pure lone wolf, like, out roaming the streets looking for a deal. And I was walking through this house, and it was, I think 450 or 500, and it was just so bad. I met this guy there, and I asked him, hey, are you looking for properties too? And he goes, no, I'm an agent. I'm here to show a couple this duplex, but they're super late. And I'm like, oh, nice. And we started talking, and he kind of realized I was an agent. I'd never bought a house. I didn't own anything. I didn't know anything. And he's like, there's actually a house, you know, in Provo that's the cheapest duplex, the cheapest multifamily unit in Utah County. You might check it out. And I just went there and I bought it. At the time, it felt expensive. It felt crazy, but it was the cheapest I could find. And so I might use that same idea now, right? Like, yeah, if that's a good deal now, it'll probably be okay in the future.
- [09:48]
A
Yeah. Well, I'm glad you, like, touched on that, on. On like, both edges of that sword, because it's not like you did it. And we. We've talked about this a few times, but there's a difference in. In doing it scared and doing it stupid, right? Like, you shouldn't invest stupid, but, like, you should invest scared. Like, a lot of times, like, it is okay to be. Be nervous, but, like, you kind of eliminated that stupid one. It's like, don't go into it with both your eyes closed. And just like you said, throw. Throw a dart and just go buy that house. But, like, learn as much as you can. And, like, you run the numbers you best you can think of, like the worst case scenario and pencil all that out the best you can. But then at the end of the day, you're probably gonna be better off buying that versus not buying it if you've done it the right way. And once again, that's why we have estate investing school where we're actually coaching people and teaching people how to do that. So it's not as scary. And then you don't end up being that person that throws that dart, right? And it's like almost impossible in my mind, if you're going through, you know, with a mentor and learning and then you're making the best educated decision you can, like, you're not going to lose out. And if you do, it's, it's a very, very, you know, 0.001% chance it happens.
- [11:05]
B
Oh, for sure, dude. And like, everyone's scared. That's the funny thing. Like, no, like, no one isn't. You were. And look at you. I was like, there's so many people I know that I look at. I'm like, dude, that guy is a baller. Like, that guy's a stud. He's not scared of anything. He's buying a second house in Maui right now. Like, that guy, he's a freak. But he was scared too, right? So as long as you just do a little bit of homework, do some due diligence. Middle workout.
- [11:30]
A
Yeah, dude, I, I, I know so many people are listening to that right now and they're like, ah, I needed to hear that. Like, that's what I needed to hear. Because I, I, I, I resonate with what you said when it comes to, like, is now a good time to buy? Now's not a good time. Now's not a good time. It's just so funny and it's crazy how many people have this short term memory loss of like, do you not remember you're the same person six months ago, a year ago? It was like, now's not, I know, I know price is a little bit better, but rates are so high. Like, now is not a good time to, you know, or, but prices are so high. Now's not a good time. You know, now it's kind of flip flopped. Like, okay, well, I can get a good deal on this a little bit better. But like, you know, rates are so high. It's just now's not a good time. And it's almost like the media and like what people hear, they, all of a sudden, it just, it's crazy how it works where that becomes their mindset of like, oh, yeah, you don't do this because rates are high right now. And it's like, who told you that? You know, who told you that you shouldn't do it? It doesn't mean that you do it stupid. You, you still factor all that into your numbers, but it's to your point. It doesn't mean that you just do nothing because that becomes A habit.
- [12:37]
B
Oh, dude, I am telling you, when I bought my first house, I went to this duplex. I looked at it, and every single window needed to be replaced. There was bricks falling off. There was, like, a leak in the roof. The units were. I mean, the house was built in 1912 and I think remodeled, like, in the 60s. So we're talking. It's been 50 years since anything's done in there. Yeah, it is just so bad. Like, overgrown trees and bushes and the fence kind of falling down in the front and all this stuff. Yeah, my. I am not exaggerating when I say that my family was shocked I was buying this house. They were speechlessly shocked. And they just said, the price will go down. They've been going up the last seven, eight years, from 2010 to 2019 or whatever year, you know? Right.
- [13:25]
A
Yeah.
- [13:25]
B
And the rates will stay here forever. And, like, they're always going to stay here now. They've been here and prices will go down. You're crazy. And I just did it, right? I just said, I'm just going to do it. It's the cheapest one I can find. I've looked for a few months now. I've been scouring the mls. Let's do it.
- [13:41]
A
Yeah.
- [13:41]
B
That's what I would tell everybody. Like, everyone's going to tell you not to do it. Everyone's going to tell you rates will come down. Everyone's going to tell you that the price will drop. The recession is coming. If you can afford the payment now and you can afford that mortgage with rent from your own units or from your own job or whatever it is, then you'll never go wrong. Like, in five years, you'll jump on a podcast like me and say, I'm so glad I bought that, dude.
- [14:04]
A
I love that and I think so much of it. It becomes your mentality. And because you bought that house, who knows, right? I'm, like, reading into all this. But, like, you became the person who, like, pulls the trigger. You became the person who. Who does stuff, despite what everybody else is saying and is against you. And, like, you're the person that makes stuff happen and gets after it. And I feel like that just goes so far in life. And if for anything else, that's why I tell everybody, like, we're.
- [14:32]
B
You're.
- [14:33]
A
You're my mastermind group, or dream bigger, faster mastermind group. And, like, I tell as example, like, you probably already talk about it inside there, where everyone that shows up, and we've capped that at 15 people, you know, but it's like, hey, the, the second you wired money over, it's now all on you. And like, and I'm not saying that, that you're not going to get the value, you're not going to get what you deserve. And I tell same exact thing, people that sign up for real estate investing school, like, as soon as that happens, it's on you. Because you have to be the person that says, like, I'm going to make this, this the biggest ROI that I've ever done on anything I've ever spent. Like, it is going to be the biggest roi, because I'm going to decide that right now, you know, despite anything else that happens with the program and not saying that like it's not worth it. And that's not happening because I believe it is. But what I'm getting at, to your point is you become the person who invests in yourself. You become the person that invests in real estate. You, you now become an investor. And that alone, even if you got no return on that house. And I don't know, I'm not, I don't want to speak for you. I know for me, my first deal, if I didn't get any return, which has made me over a million bucks cash, my first house, okay, crazy. And if I would have gotten none of that, I swear to you, none of that, it would have been worth it because I became the person who I'm now an investor. And that's how I live myself. And that's what I do. And that's who I am. That's how people saw me. So that's how I saw myself. That's how I acted. So anyhow, just wanted to throw that out there. Cause I think that that's a piece that a lot of people miss.
- [16:07]
B
Dude, a hundred percent, like everything you said is money. I don't even have anybody else to say it was so good.
- [16:13]
A
Well, dude, here's another thing that people don't think about because it's so much of the thing, hey, that's overpriced. You shouldn't pay that much. You shouldn't pay that much. So let, let's take out the fact that, you know, let's say you put 80 grand into it and then it, you know, it was worth 80 grand more and that's it. Not, not even taking into account that it. You doubled your money. You know, almost taking out the, the fact of like the purchase price, all of that, aside from you overspending at the time, if we're just looking at cash flow, let, let's Talk about that for a second. What is, what does it rent for now? What's your mortgage on it?
- [16:48]
B
Yeah.
- [16:48]
A
I don't know if it's refinancing sense or not, but yeah.
- [16:51]
B
So what I ended up doing with this house is I had just again finished my first summer doing door to door sales. Right. And I ended up doing pretty well that summer. And I was able to buy this house in cash. I had some money saved up before the summer and then plus my summer's earnings, everything else, and I was able to buy this house in cash. So I bought it in cash for the 275, and then I put the 70, 80 grand into it. And then I immediately did a cash out refi and took my money back, took everything out. And so I ended up being down about into it, about $30,000. They gave me my loan to value. They'll give you up to 80%. So they gave me whatever it was, and I ended up getting about $30,000 as my down payment money for this house. And I had a fully remodeled duplex in provo for 30 grand.
- [17:43]
A
Wow.
- [17:43]
B
And I looked at that and I was shocked. And everything started making sense. Like, holy smokes. Like, for $30,000, I make $1,000 a month. You know, like I make 12 grand a year for 30 grand. That's like a 40% return just for my cash on cash.
- [18:00]
A
Yeah, Right.
- [18:00]
B
Let alone like everything else. And so when I first bought the place, I ended up remodeling the outside completely. And I did one unit on the inside, and then I had the other side rented, and it was still old. So I remodeled the one side, had the other side rented. It was about when I first bought it. It was 750 per side. That's what rent was. And so it's 1500 bucks in my mortgage after the refi was 1250. So. But when I first, first rented, I knew, okay, if I just got a mortgage today, it'd be 1250. And if I just never did anything, I'd still be making a couple hundred bucks a month. Right. And so I kind of knew that I was going to be safe no matter what the refi turned out to be. And so I remodeled one side, happy with the other side. Then I moved into the side I remodeled, did the house hack, lived in it for a year, and then I raised the rent on the other side to a thousand dollars. The whole point of me raising the rent was I wanted them to move out. Right. Like I was trying to get rid of them because I knew if I remodeled, I could get more. They ended up just paying the 1000 bucks for the next year. They signed another year lease, paid the full thousand bucks for the next year. I was losing a couple hundred bucks or whatever because I was living in one side and noticed I was paying 1000 bucks. My mortgage was 1250. I refi'd it right when I finished my first side. So the outside was remodeled and one side was done. Took all my cash back. A year later they moved out, finished remodeling that still. I'm into about 30 grand after all the refi money. And now each side rents for 1400 bucks a month. So it's $2800 a month in rent and my mortgage is about 12, 12, 25, 1250 somewhere in there.
- [19:40]
A
Wow. And you owe how much on the house?
- [19:43]
B
I owe 200,000 or so.
- [19:47]
A
And you said, at this point, you said it's worth.
- [19:51]
B
Like 650, 700.
- [19:54]
A
Wow.
- [19:54]
B
I mean, I had a. I had a cash offer of 650, you know, last year. I don't. Someone just called me and begged me to sell it to him. And hey, my kids are getting married and they live in Provo and I'm just the dad trying to find a place and I said no to it. So I don't know who knows what the market's at right now.
- [20:09]
A
But that was me, dude. That was me. I was just giving you a story to see if you'd.
- [20:12]
B
That was just in the future. You knew I'd be using this.
- [20:17]
A
That's awesome, man. So, yeah, dude. So this is obviously a really good one for your first deal. Did you have that, that intuition already going into. I mean, obviously you came back from your first year doing sales, you had insane amount of money for a 22 year old. And so totally did. You know, like, hey, the. I'm gonna. I'm gonna burr. This is essentially what you did, right? You did the Burr strategy.
- [20:42]
B
Yeah. At that point, I honestly, like, I hadn't listened to any real estate podcasts all that much. My parents, I mean, my parents are both. My mom's a contractor, so I know like she knows how to remodel houses, build houses, and interior designer. She does both of them. And so I knew that like it was possible to make something ugly look pretty kind of thing. And so I knew that could happen, but I didn't really know a lot about the game. I just kind of started. And I was thinking about that before I got on the call because I was just trying to think about what deal I want to talk about. And obviously not everybody has 300 grand just to throw out a deal and get their money back.
- [21:18]
A
Yeah.
- [21:19]
B
But even if I would have done hard money and just borrowed the 300 grand, it still would have penciled out awesome. Yeah. I might have been into the house 40 grand, because I would have paid $10,000 of payments, or maybe I'd be into it 50 grand, but it still would totally make sense.
- [21:32]
A
Yeah. It wouldn't have been a deal breaker. I'm glad you brought that up, too. Just because in general, I think most human beings, not you guys that are listening to the podcast, because you're different. You're the elite. Right. You take action. But most people hear stuff like that, and immediately the first thing that comes to mind is like, this doesn't apply to me because of xyz. Right. There's.
- [21:58]
B
I was, like, legit scared to bring it up and just say I paid cash for it. And that's how it happened. Because of that reason, I don't want people to think they couldn't do it, you know?
- [22:05]
A
Yeah, no, for sure, dude. And it's. It's just so funny because, like, there's always. What is it?
- [22:12]
B
You.
- [22:12]
A
You have an excuse or you have a. I don't know what. What they're saying, either you get one of one of the two. Like, you can always find an excuse. You can always find a way to do it. Like, it's up to you. And that's real estate in a nutshell, hands down. But I'm glad you brought that up. Just to show, like, hey, it doesn't. It doesn't matter if I had the money or I didn't have the money. You're the type of person, you would have figured out a way to get the money if you had to borrow the hard money. The numbers are still there.
- [22:39]
B
Oh, 100%. And I mean, that's what I. What I've done. And I've done that in the past now, since that deal. Right. Because I don't always have cash to buy every deal. That was kind of an anomaly and just the way it turned out. But obviously, I'm happy I did it the way I did it, but there's. There's so many ways to get creative and do it if you're just willing to take a little bit of a risk, like a little bit of a leap of faith, dude.
- [23:01]
A
So. So good. Yeah, that. That was a lot for people to just learn from that. The little that you told us on that, what we Kind of like talk about how you forced the deal. And I think that you went into. I mean, we can pick 10 different things if we rewind it and talk about things that you did specifically on this deal, even down to, like, the mindset and just making it happen. But is there anything else you would add? Especially if somebody's sitting here like, hey, how can I go and, you know, do what Jake's done? Replicate something like this? Like, I. I am. Maybe they did just get back from their first year in summer sales, or maybe they do have a lot of money, maybe they don't, but either way, they want to start building passive income. What advice do you have for someone in those shoes?
- [23:46]
B
Yeah, I mean, obviously you got to get educated, right? Like, I count my blessings that my first deal went as well as it did with the amount of knowledge that I had. Like, that is crazy. Like, I didn't even know. I feel like I didn't know anything about houses or mortgages or anything and just kind of flew by the seat of my pants. And so obviously, if you're. And it still worked, right? Which goes to show, like, you don't need to know everything, you probably should know something. But that's, like, the biggest issue I see in my network. And, you know, probably I'm still pretty young. 27's not super old, right? I hope it's not super old, but I'm still pretty young. And I hear guys all the time say, I don't know enough yet. And I'm like, you don't need to know anything. Just buy something. So my advice is just learn a little something. Don't spend too much time. If you start studying real estate and you spend any more than 30 days studying it before you buy something, if you're capable enough to buy something, I think you're making a mistake. I think you're going to learn the most just by doing. And so after a month of learning, after a month of listening to Brody's podcast, of reading some books about it, whatever it is, right? If you're reading bearded Brandon books, or if you're reading, like, whatever it is, after a month of reading, studying, start looking and just buy something and jump in. And if you can afford the payment, like I said now, just do it. That's the only way to start. And it's funny, I've been. Now that I've been investing for the last five, six, seven years, I have invested in so many things outside of real estate, too. And it is just shocking to me how every single time I get burned doing that. And every single time, I wish I just would have put it into a fourplex or a duplex. Like, every time, like, I have done, you name it, I've done it. I think just because trying to diversify and trying to spread my money out and trying to be smart and trying to get rich quick. Right. Is also it.
- [25:41]
A
Yeah.
- [25:41]
B
And every time I'm just like, dude, that 200 grand was a four plex. Like, I'm really glad I put that into this freaking stupid whatever, you know, like, whatever it is. So that's my advice. When you're trying to get financially free, like, don't try and remit the will. Don't try to find that one crypto that's going to pop off. So you're going to put all 50 grand you have into it. That's just not a good idea.
- [26:02]
A
Right.
- [26:03]
B
So that's my advice.
- [26:04]
A
Yeah, that's great advice, man. Yeah. A lot of people even say, like, hey, you shouldn't even make money on your first deal. That's not the purpose of your first deal. It's just to. Just to do a deal to get over it. And I mean, like, my mindset is like, do, do both. Do the first deal, but also, like, let us show you how you can actually make good money on it and do both at the same time. But it's almost like, you know, not that this is the conversation, but if the conversation was, do I do a deal and lose money or I never do a deal in my life, you know, it's like, well, in certain circumstances, it might be worth it to do a deal and lose money because you're. You're now in the game and you. You got those jitters out and you know what's happening, and you learned a lot. So it just depends the way you look at it. But why not? Why not do what you did and do both?
- [26:52]
B
Yeah. And I mean, and sometimes you don't know. Like, I remember when I bought that place, even my family, and people are like, dude, you're never gonna rent a unit in Kopo that's that small for more than a thousand dollars. Like, it doesn't matter how much lipstick or how much you put in this thing. Like, rent just will never exceed a thousand. Like, you're crazy.
- [27:09]
A
Yeah.
- [27:10]
B
And I'm like, well, eventually it's got to keep going. Like, people thought it never would exceed 500. Right. Or 700 or. And so even that, like, my whole thought was, I'll probably remodel it and rent both sides For a thousand, you know, 1100, it'll never cross that. And now we're at 1400 a unit. And every time I listen for rent, I have like 80 applications and I just pick one. It's crazy, right?
- [27:32]
A
Yeah.
- [27:33]
B
So I think that even if the numbers don't pencil out right now on that deal, that doesn't mean you shouldn't buy the deal. When I say pencil, I mean with a 15% cash on cash return, 20% or whatever it is, you might be getting 8% or 5% cash on cash or breaking even. Right. But in a year or two, you don't know if that's going to be a 12% or 18% or whatever.
- [27:59]
A
Yeah, I think that's great. Or it could go down, right?
- [28:03]
B
You might have to lower rent. A couple hundred bucks and you're breaking even or you're losing 200 bucks a month, but after a year or two, it'll go back.
- [28:09]
A
So 100, dude. Yeah, 100, man. So good. What a fun deal to dive into and to learn from, brother. Thanks so much for taking time, man, and just diving into it, sharing all the. All the. All the good, bad, and ugly with it. But with that being said, if people want to connect with you and just link up and get a picture that they can put on their wall so they can learn how to be like you, what's the best way for them to do that?
- [28:34]
B
Oh, man. Dude, if you want to look me up, if you want to find me, I am. I'm on social media. Media. I'm on Instagram the most. I'm not a huge social media guy, but I'm getting more into it. I talked to Brody about it. I'm trying because I feel kind of selfish right now. My friends are telling me, like, you should probably help more people and teach people about this different thing. So I am going to start posting more. So if you want to look at my Instagram, it's just Jake underscore Ebert. So my last name is E B E R T. So it's kind of unique. But you can look me up, shoot me a dm and I'll get on a call with you. I'll help you. I'm always taking calls about something. Something, either sales leadership or financial freedom. So let me know.
- [29:11]
A
Dude, so nice of you, man. Well. Well, that's. Go. Go follow Jake. Go connect with him. And you do have that golf video that definitely went viral of you almost falling in this underground river, which was insane. So that's as social media as it gets, right? There. You're like insta famous because of that.
- [29:28]
B
Dude, I downloaded. I downloaded TikTok. I made one TikTok and it got millions and millions of views. I don't know how that happened. It's not about financial freedom. It's not. It's not about leadership without being dumb, but somehow it worked for me.
- [29:40]
A
Oh, that's awesome. Now. Well, hey, thank you, guys. Thank you, Jake. Awesome as always. As always. As always, as always, as always, take this stuff and go apply it. Go make something happen. Don't just let it sit in your noggin and do nothing with it. Aside from thinking Jake's cool and got lucky. But actually go take what you love learned, write some stuff down and go apply it. And thanks again for tuning in, taking the time to listen to the podcast today. We'll catch you guys on the next one.