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Real Estate Investing School Podcast
208. REAL DEAL: The Three Key Factors to Being a Great Investor
00:28:57
Welcome to the Real Estate Investing School Podcast! On today's episode Brody interviews Alex Mashburn. One of the biggest misconceptions for new investors is the belief that you need to have it all figured out: the capital, the know-how, the ideal...
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- [00:00]
Brody
What's up, guys? Stoked for this Real Deal episode today with the one and only Alex Mashburn. What's up, Alex?
- [00:08]
Alex Mashburn
What's up, man? How are you?
- [00:10]
Brody
Good, dude. I'm excited to do this. Alex is a stud. Him and I have been talking real estate for the last handful of years. I think you. You're one of the first ones to buy a program that I put out. It's been a couple of years, right?
- [00:33]
Alex Mashburn
Yeah, yeah, it's in, I think, two years now. Two and a half years.
- [00:38]
Brody
Awesome, dude. So I feel lucky because I've been able to kind of just see your journey through this whole process, because I think at that time, I can't remember if you owned the house you were living in or. You didn't own any houses at all, did you own any?
- [00:52]
Alex Mashburn
Yeah, we. We owned the one that we first. That my wife and I were living in. We had been in there for a couple months, but knew that at the year mark, we wanted to rent it out and. And kind of move and house hack it, but just had no idea. I was just over here dming Brody, praying and hoping he'd answer me two, three months later. You know how it goes.
- [01:13]
Brody
So, hey, dude, we all. We got it all figured out. And look at you.
- [01:17]
Alex Mashburn
I know.
- [01:18]
Brody
Just. Just crushing it. And. And you're working with us within real estate investing school, which is super fun, but it's been cool to. Because I think there's two different types of people. There's one that's like, hey, I kind of want to get into real estate. It sounds cool. I like it. I want the benefits of it. I have a house right now. I'm going to turn this one to an investment. And then there's the other side of it where you actually double down and you're like, hey, this is the path to my early retirement. I'm going to go all in on this thing. And that's what you've done. And, like, you've kind of gone step by step doing a lot of the same exact things that. That I've done, which maybe I'm biased, but, like, I think it's a great way to go because you're going to dive into a deal you've done. And the reason I say that and, And I'm. I'm joking. There's a lot of different ways to do real estate, but the way I've done a lot of it is I haven't had to wait for my bank account to fill up really, really high before I was able to dive in. And so you've used a lot of these no and low money down strategies to invest and get started and build wealth inside real estate investing. And so today we're going to dive into. To one of those deals. It's actually more of a recent one you did, right, Just a couple months ago.
- [02:31]
Alex Mashburn
Yeah, yeah, just a couple months ago.
- [02:34]
Brody
Cool. Give us an overview of it really quick, what it is, and then we'll just dive into how you found it, how you funded it and how you forced it and turned it into a good deal.
- [02:43]
Alex Mashburn
Yeah, sounds good. So this is, it's a, it's a deal that we have a few other properties nearby. And so, I mean, that's something that I think it's good to get out of state and, and then, you know, stay in the same area that you've already been doing other deals. But it is nice to be able to like, hey, I'm running the numbers already from this other property right next to it. So I kind of have a good gauge of kind of like, you know exactly what's going to be because this one is an Airbnb and you know, it can be unpredictable when you do Airbnb. So I kind of looked for this one. I had an eye on it for a while just because it's a little bit more unique. It's got like an 1100 square foot patio right. Right by the canyon into, you know, next to these national parks. So just kind of, you know, you try to keep everything more emotional, I mean, logical in real estate investing. But there are a few things that especially my wife has an eye for, for, you know, things that are emotional because that's. People book an Airbnb emotionally, you know what I mean? So, yeah, for sure.
- [03:48]
Brody
So this is. So it's an Airbnb, a single family house.
- [03:52]
Alex Mashburn
Yeah.
- [03:53]
Brody
Cool. Awesome. So maybe tell us how you found it and how you funded it ultimately with how you found it as well. Like, why did you pull the trigger on it? Was it because it was close to the canyon or what was it about it that made you actually feel like, oh, this could be a good deal?
- [04:11]
Alex Mashburn
Yeah. So I found on Zillow, honestly, like a lot of people are like, oh, off market. And those are all great. And I think that there's going to be kind of like Brandon was saying, there's so many deals out there, people don't know how much equity they have. But the last couple I've got just been on Zillow just because there's not a ton of a ton of buyers. I talked to an agent yesterday and he said that he's done more deals this year than he did last year so far. So people are still buying. But yeah, just on Zillow, and I think the big patio is the main thing. They also. It's a brand new kitchen, never used, and same with the floor and a few things like that. They were doing a lot of renovations. They kind of just. I. I think they just needed the money and they got in a tough spot and so they didn't run the numbers correctly. So they were too deep into it and they had to sell it. I think it's kind of what happened. But yeah, mostly. Mostly just because we had an Airbnb nearby and this one's bigger and more unique and Right. Right by the canyon. So. Needed a lot of love. This is kind of one of the persons we've done that needed. Need a lot of love. So there's a lot of learning in that.
- [05:26]
Brody
Yeah. Yeah, you got your hands dirty. I saw that. That's cool. Yeah, No, I think there's a lot to be said there too, of just like, you don't have to reinvent the wheel because the best indicator of the future is the past. Right. And so it's the same thing with, like, building my tiny home resort. I had a condo that I'd been renting out that was roughly the same. It actually spurred the idea of, you know, how do I mass produce this one bedroom, one bath condo? Because it's. The numbers are working out so well on it. How can I get, you know, 10, 20, 30 of them? And that led to the tiny home resort idea. But it's nice knowing, like, I have five years of data, you know, like, I've been renting this out on Airbnb for five years. So I've seen how it performs in the winter, I've seen how it performs in the summer. I've seen, like, you know, what you're getting yourself into. And it sounds like that was a big, a big advantage that you maybe had over other people in, in buying this. Is that right?
- [06:22]
Alex Mashburn
Yeah. Right? Yep.
- [06:24]
Brody
Cool. So the way you funded it is really cool because. And this is where. And the reason we talk about how did you find it, fund it, force it, is there's so many different ways to go and create a good deal. And I love that you touched on, like, hey, there's nothing special about this aside from like, I found it on Zillow. Anybody could have went and found this property, you know. Yeah, I had a little bit of an insight of the market and how it's performing in this area, but it's just a house that needed some love. Yeah. Had a nicer kitchen, but doesn't sound like anything about it. Like, you just struck gold by, like, being the first one to see it or something like that. And I think a lot of people get this vibe of, hey, there's no deals in the market right now. I mean, I talked to somebody. It's like there's. There's just no deals. And this is something that you and I see eye to eye with. And this is what you've done a really good job of, like, diving into and grasping and understanding is going out and creating that good deal. And it might not be the way you find it, but it can be the way that you fund it or the way that you force it. And so maybe talk on that a little bit and what you did to make this deal awesome and then go over the numbers a little bit for us.
- [07:32]
Alex Mashburn
Yeah, for sure. I think the most important thing is, I mean, I think it was one of your first videos on, like, that first thing I bought, you were like, I think it was you and Andrea. You guys were like, there's always a way to make it work. Like, you know, like, if you know the numbers for the area, you know what it is. Like, there's going to be a way to make it work and make it happen. And so I think that stuck with me a lot, especially with this one. So pretty much interest rate is going to be, you know, it was. I actually, it went. It fell through with my first partner. I don't think that's something that, you know, that, you know, actually. So the first partner I had, I showed them how to get a HELOC on their home. He took $250,000 in a HELOC. And he. And he was like, yeah, let's do it. You know, and only 10% down. So a lot of people don't know this, but I, again, I learned this from the real estate investing school. It's like there's. There's an amazing 10% down. No mortgage insurance, Investment property loan, Mountain America Credit Union does. There's a ton of other companies that do that. Basically, you're just buying. Buying out the pmi. You know, you're just buying out the mortgage insurance. But right now is an amazing opportunity for sellers to buy it for you.
- [08:51]
Brandon
Right.
- [08:52]
Alex Mashburn
I mean, they're paying your closing costs right now for you, since there's not a lot of buyers. And so I kind of took Advantage of that one. Um, and was able to bring this deal that was originally listed for, like, almost $400,000 down to, like, 325 down. So we got. Ended up getting it for 315 and had them pay all 10 grand in closing costs.
- [09:14]
Brandon
Right.
- [09:14]
Alex Mashburn
You know, I think it was 11. So that was the main first step is like, how can we, you know, get the least amount of money down? So we can use a lot of, you know, maybe a little bit more of our funds to go and do some renovations on this thing. Because, tell you what, it looked ugly. It looks so ugly on the outside. And they'd redone a ton of stuff on the inside. So I think that's the main thing is, like, the first Zillow picture was, like, the outside. It was horrendous. And so I think a lot of people just skip over, you know, emotionally, like, outside.
- [09:49]
Brody
You know, don't judge a book by its cover.
- [09:53]
Alex Mashburn
Yeah, it's true.
- [09:55]
Brody
So to kind of break it down. So one thing you did right off the bat, the way you funded it, was you, instead of doing your traditional 20, 25% down investment loan that most people do, you were able to leverage your cash a little bit better because you went and found a special product that a bank offered where it was only 10% down. So the cool thing about that is you're leveraging your money better. You could essentially get two of the same exact houses, right, with the same 20% down payment that a normal bank might. Might charge you. But instead, because of this loan product they have, you can buy two different homes that both cash flow, they're both are paying, someone else is paying down, you know, the loan on it that both of them, you get tax benefits. And so, you know, there's all these different things. That's so cool about the reason you did that. Not to mention, you usually get a higher cash on cash return, right, because cash that went in was smaller. So that's one thing you did super cool. The other thing that you did, you mentioned you. You found a partner. Can you dive into that? Like, what was that like? Is this your first time you partnered with somebody? How did you structure that? Why did you partner? Was it just because of the cash? How did you guys, you know, structure that partnership?
- [11:09]
Alex Mashburn
Yeah. Yeah. Partnership was a. I. I mean, it was kind of tough for me at first. Cause I was like, I just want to do everything on my. On my own. I don't want, you know, I want to learn it all on my own. I want to just do it all, um, I think what I realized was, like, you know, you kind of always want to, like, be bettering yourself, but also if you can help others along the way, then great. So since all I've been doing is, like, you know, learning about real estate for the last two years and just trying to dive into it just because I know what the future could hold with it, I think I realized that there's so many people that don't realize that all the money they have, they haven't invested. If it's invested in your bank account, it's losing value every year because, you know, inflation, a few other things. They're giving you what,.001%. And same with, you know, stocks. You give it to stockbroker, and guess what? Like, they're going to give you, you know, you're going to make 6, 10% average, but, like, they're making another 20, 30% on that. Like, you don't even realize it. You know what I mean? And banks are using your money to go make money. So I think I realized that if I can kind of be that middleman of, like, with real estate, where there's four different ways you make money, if I can help somebody else take their money from a liability, put it into a real asset, that makes them money, they get tax deductions off of it, and, and it's probably going to go up in value. I'm not counting on it.
- [12:36]
Brandon
Right.
- [12:37]
Alex Mashburn
It's cake if it does, but, like, I'm counting on the cash flow and then finding a deal that does no less than, like, 40% cash on cash return, then I know they're going to get at least 20%. I'm going to get you at least 20%. And it's a. It's a huge win for everybody, right? And so I'm not telling them to give up any of their money. I'm just telling them to move it into a real asset that makes them money. And so I think if they kind of have. Once, once I started sending, like, I asked, like, I think. I think you told me to make a list of people that, like, you know, would possibly want to partner. And so I did. And I was like, you know, maybe they have some cash that, you know, they want to, you know, make money with. And I haven't got one person that said they don't want me to send them deals. Like, everybody wants you to send them deals, right? Everybody wants to do real estate, but only, like, 10 or 20% of people might actually end up pulling the trigger someday, right? And so what I did is after that, like, I got one or two people that are super, like, ready to start doing it. And how did that first one.
- [13:42]
Brody
I think a lot of people won't know this, but how did you. When you reached out to those people, how did you phrase it? Because you didn't have a deal at the time, probably when you. When you reached out to him.
- [13:50]
Alex Mashburn
I did. I just had the one townhome that was being that we aired.
- [13:55]
Brody
I mean. I mean, you didn't. Did you have a deal saying, like, hey, this is ready to. To be invested in. I need this much.
- [14:01]
Alex Mashburn
Oh.
- [14:01]
Brody
Or you were just like, you're just basically finding out if they're serious about investing with you or not?
- [14:07]
Alex Mashburn
Yeah, yeah. Just. Just, you know, they. Maybe they might be at a point in their life where they're like, oh, man, I kind of do want to design my own life. I kind of do want to get a little more freedom, work a little bit less hours. I've seen that. I mean, my dad, to be honest, like, I mean, I haven't done anything with him, and I probably won't, but, like, he has been working 12 hours a day for the last 25 years at UPS, makes great money, but still is paycheck to paycheck. And I was like, I bet there's other people out there with extra money that want to, you know, kind of get out of that hole a little bit. So I. Yeah.
- [14:42]
Brody
What did you say to them when you reached out? What did the text say?
- [14:46]
Alex Mashburn
Yeah, so I sent a text, and it'd basically say, like, um, hey, I've just been diving into real estate, investing a ton. I'm not an agent or anything, but. But I, you know, I've had this one deal. I have a couple deals in the works. Would you ever want me to send you any? That's pretty much it. And then I. Yeah, like I said, I haven't got anybody to say no. And they're like, oh, yeah, for sure.
- [15:12]
Brandon
Right.
- [15:12]
Alex Mashburn
And so I just keep sending deals. People would ask questions. Realized a few of them, I was wasting my time a little bit. They just, you know, maybe I could tell. Maybe they just want to do it on their own or that's totally fine. Like, more to you.
- [15:29]
Brandon
Yeah.
- [15:29]
Alex Mashburn
So. And then they. One or two of them would, you know, finally pull through.
- [15:33]
Brody
So then you find out how serious they are, and then you're like, cool, we'll partner on this. And then you just break down what that looks like.
- [15:41]
Alex Mashburn
Yeah, I mean, there's just. There's so much, there's so much money out there that, that people don't, you know, not only do they not know what to do with, but like there's so much money out there that, that they, they're just so busy in their job, their day to day job that they, they can't do anything else really. You know, they don't have the knowledge to do anything else. So yeah, I once, once I send them a deal and I say, hey, I got a few other people that are looking at this deal because I do, because I'm sending them to multiple people. You know, it. I'll, I'll send you the numbers. Here's the numbers. Would you, you know, do you think there's something you want to pull the trigger on or, or I'll just catch you on the next one. And I get a lot of, you know, catch me on the next one here and there. But you know, oh, like, okay, what's the next steps? This is like the easiest thing ever because they don't have time. You don't know what you don't know. And here's somebody that like, this is all I do and I love it and I have a passion for it because, you know, of what I've been able to see it do for me.
- [16:45]
Brody
You know, I love this because something to talk about a lot like once you've learned the skill set, you now have this skill set that a lot of other people don't have. Like you've invested in yourself to learn this and figure this out. And the cool thing, we say it a lot like the triangle of real estate investing. You only need two out of the three, right? As far as education, hustle and money, like you need two of them to be successful. And if you have the education and the hustle, which is what you're talking about right now, you don't need to go and figure out the money piece, somebody else is going to put the money in. And so that's just cool thing of like, hey, I'm diving in. I'm going to learn real estate investing. I'm going to be really good at it. Learn how to recognize a deal. I think the fact that you said 40% cash on cash return, people are like, what? No, that doesn't exist. Where do you find that? Right? You know how to go find that or go create that because you've dove in, you've learned all these things. And so having that skillset, so cool because now you don't need money. I don't know the answer to this question or what you did. I know what I would have done. As far as structuring your partnership, how much money did you put in? How much money did they put in? How are you splitting this property? Specifically, how are you splitting the cash flow? Do they have the same roles as you? Like, what does that look like? And you mentioned some rehab. So who put the money in for the rehab?
- [18:11]
Alex Mashburn
Yeah, great question. So this is what I'm still learning, right? I think I might like 1% of everything I want to learn. So, like, there's so many more things I'm just going to continue to grow and learn over the next five, 10 years and just grind. But the one thing, yeah. With partnerships, this one is structured, it's 5050 on equity and on cash flow. The equity, like the down payment that he put in, which is 30 grand, I. We don't split that. He just, obviously he just keeps that. He moved it from his bank. It's his asset. He moved it into, you know, this asset that's going to make.
- [18:51]
Brody
So he put a hundred percent of the down payment, Right? Okay.
- [18:55]
Alex Mashburn
Yep. And then as far as, like. So this, this is where it gets interesting. I don't know if you've ever heard someone that does this before. So I. My roles are pretty much everything, right? I say, hey, you can be involved in as you want with, you know, some of the renovations. You know, he probably put probably 10 grand into renovations for us. Right. But my roles are pretty much do everything right. So he's putting the money in. I'm pretty much just doing everything else. I'm. I'm getting the business license for the property. I'm getting the, you know, getting it set up on Airbnb. I'm already a super host on there. So my, you know, the properties I put together kind of get listed up top, you know, a little bit higher. I'm. I'm honestly, I was painting with my wife. Like, we were just like, we're just going to do it ourselves, right? And so just trying to do all that stuff. And then something that I learned to get a huge cash on cash return is actually solar, like, just because you're going to pay an electric bill anyway. And so if you can just swap it with power that, you know, you're going to have it paid off someday, and somebody else is paying that off for you, right? Your tenants and whatever. But it's essentially, it's a home improvement loan.
- [20:18]
Brandon
Right.
- [20:19]
Alex Mashburn
And so you're allowed to throw different things in there. So I. And I don't do it. Like, it's not on my credit. I have my partner do it, right? And so it's zero down. So I'm gonna get zero down. But we're gonna do all these improvements for the house. Like, okay, cool. So they're on the credit. They're getting the solar. But in there we have electrical work. The whole thing needed a lot of it needed some pretty dangerous obviously, so seven grand and they were paying, you know, it was just like it was in the solar is in the solar improvement loan, new roof insurance when it cover it for more than 60 days unless we got a new roof on there. So. And I knew that before the deal, like, all these things I knew before the deal within this direction itself, right? So new roof, new gutters, electrical. And then we needed to replace the railing around the outside. So, like, almost all of those we were to put in this home improvement loan with solar.
- [21:17]
Brandon
Right.
- [21:18]
Alex Mashburn
And that bill every month is a little bit higher than what the electric bill normally would have been. And so it's like. It's like 2, 3% interest. Super low.
- [21:27]
Brandon
Right.
- [21:29]
Alex Mashburn
And so. And then from that, since I've sold solar before, actually I was able to take that and sell myself, sell our own house.
- [21:36]
Brandon
Right.
- [21:36]
Alex Mashburn
And my partner, basically, and then also take a $10,000 commission and then use that money to do some more renovations that my wife and I are doing. Right. And so essentially, I'm in at zero. He's in at 40.
- [21:51]
Brandon
Right.
- [21:53]
Alex Mashburn
And then. And then just because I, you know, I guess I'm in at 10 because I. I got that commission and then put it in.
- [22:00]
Brandon
Right.
- [22:01]
Alex Mashburn
So. But total in the deal, if you. Minus my 10, like, we're in it essentially. 30 grand, right? 30, 40 grand. And so. Yeah, none of them mine, Right?
- [22:14]
Brody
Yeah. So, yeah, that's awesome.
- [22:17]
Alex Mashburn
Yeah. I mean, and I paid myself with that. And then I use like, you know, American Express gold business card to using that $10,000 in renovations and stuff.
- [22:27]
Brandon
Right.
- [22:27]
Alex Mashburn
But I'm essentially in it none. And then that property in the. As far as like, I mean, they've been right so far, but in the winter will be. We'll do three to four grand, and in the summers will do about eight. So just kind of.
- [22:42]
Brody
And what's. And that. What's the mortgage on it or what's your total?
- [22:46]
Alex Mashburn
Yeah. So it's.
- [22:47]
Brody
Is what's the cash flow?
- [22:48]
Alex Mashburn
Right. So we got it. We got it for 315, like six and a half. Almost 7% interest rate. It's like a 2. It's a 1900 dollars payment and. Sorry, what was your last question?
- [23:06]
Brody
Oh, just, just what the cash flow was. Yeah, okay, so I mean your cash flow in the slow months, it sounds like around a thousand, a thousand to two thousand dollars. And then in the high months, closer to like five, five plus thousand dollars. Yeah, yeah.
- [23:24]
Alex Mashburn
The year, it should bring about 30, 30, 40 grand profit. Probably close to 40. So 40 grand profit, which is our goal. And again, I don't think it's normal to do 100% cash on cash return, but like that's the goal.
- [23:41]
Brandon
Right.
- [23:42]
Alex Mashburn
So awesome, dude.
- [23:44]
Brody
Super cool. I mean, I mean your, your cash on cash return out the gate is infinite. Right. If you're into it, no money. And then your partners is really, really high. And that's, that's like what we call win win scenario. Which is, which is so cool. We could dive into just partner stuff, you know, again and again and again. This is, yeah, super good. I know we have you on the long form podcast as well. People have to check out. But what would you, what advice would you give somebody that's maybe they're getting started, maybe they have a handful of properties. Either way, they want to scale their portfolio as fast as they can, build as much passive income as they can, just so they can have as much freedom as they can have. What advice would you give them based on this deal of how they could go replicate the same thing? Because it is out of the ordinary. It is an exceptional deal.
- [24:33]
Alex Mashburn
Yeah, I just, I mean, it's kind of perspective. If you think the deals aren't out there, like you're never going to find them. You know, if you haven't done a deal in the last couple months, it's, it's on you.
- [24:46]
Brandon
Right.
- [24:46]
Alex Mashburn
Like, there's so many people that want to get into it that have money or if you have money. There's so many people like me that are just grinding, learning about this real estate or doing real estate investing school and just trying to learn everything they can and they have a ton of value to add, you know, Like, I've had people turn me down because they're like, ah, I just feel like you're not putting anything into it. So any monetary. So I don't, you know, I don't feel like it's worth it. And I totally get that. Like, I, you know, I don't blame them at all. And like, like I encourage them, like, go do this yourself. Like, you can do it. I believe in you. Like you can, you know, go create this for you and your family.
- [25:21]
Brandon
Right?
- [25:22]
Alex Mashburn
Um, but I would say, yeah, I'd say that's probably the biggest thing is just. Is just have a. Have a humble mindset of continual growth and that you, you know, and let other people do some of the hard work for you. You know, there's a lot of people out there that, you know, they might not have a ton of money, but, like, they will. They will grind for you to go and. And create. And create those deals.
- [25:47]
Brody
So this is awesome. So good, man. If people want to hit you up and ask you more about the deal or just. Just connect with you. When's a good. Where's a good place to do that?
- [25:59]
Alex Mashburn
Yeah, probably just Instagram. Just Alex Mashburn. That's probably the place I'll answer most of my DMs.
- [26:05]
Brody
So sweet, dude. You don't wait a couple months to respond.
- [26:09]
Alex Mashburn
No, no, I'm serious. So that really happened. I was like. I was like, how do I turn this into an Airbnb? Like, how do I do. I need some sort of, like, licensing? Like, I just. You don't know what you don't know. And it's so frustrating.
- [26:20]
Brandon
Right?
- [26:21]
Alex Mashburn
And so that's why I'm so glad you created the schools, because, you know, I was able to. To connect with people that did know, hop on a few calls with you. And like, the value added from just five minutes is so much more than, like, it would take me probably weeks on Dr. Google, who doesn't. Who thinks he knows everything. You know what I mean? Like, you know, so it's just like, the value from that is so. I think it's infinite. Like, I probably have like a 2000% return on real estate investing school, just because, you know, again, you don't know what you don't know. And so having to figure it out, that's why most people don't. That's why it's only like 1 or 2% of people actually own, you know, investment properties, so.
- [27:03]
Brody
Well, appreciate it, man. That's cool. Hearing you say that. And I. It's. It's funny how, like, someone called me yesterday, just a student, and. And it was good timing. I was walking into the gym, so I. I answered. He's like, he's in the middle. He had 10 minutes before he needed submit a deal, and. And he's like, oh, thank you so much for answering. And it just worked out perfectly. But. And then his coaches texted him back and he's like, sweet. All right. Like, you just. He's like, this. This alone, like, this conversation is like, it's worth so much money because, like, there's a few things we just talked about for literally two minutes, and then his coaches texting him back saying, like, hey, it's cool. Let's get under contract and move forward with it, and then we'll jam on it some more. And that's, like. That's all you need. And, like, little tweaks here and there, and it literally is tens of thousands of dollars or in the long term, hundreds, you know, and millions of dollars.
- [27:56]
Alex Mashburn
A lot more than that. Yeah, yeah, yeah. I look at. I think my perspective was I look at every deal is a million dollars. You know, like, just the amount of taxes I'm going to save, the amount of appreciation, the cash flow over the next 30 years. Right. Principal paid on people. It's like, if you look at it like that, I mean, go get 10 of those. Like, every deal is a million dollars, you know?
- [28:17]
Brody
Yeah. Love that mentality because it actually. It actually is probably true. Dude, I love it. Thanks so much for for jumping on, dropping some bombs. Thanks for. For being dedicated to the. To the program and, like, actually diving in, learning, but then not stopping there, but actually, like, applying everything that's. That's gold. Stuff. Stuff, dude. So I learned a ton. Thanks so much for being on. Appreciate you. Go connect with Alex, everybody.
- [28:43]
Alex Mashburn
I appreciate you. All right.