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Real Estate Investing School Podcast
23. How to Create Infinite Returns with REIS Founder Brody Fausett
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- [00:00]
A
Welcome to the Real Estate Investing School podcast. I'm your host, Joe Jensen. We got a very special guest today, the one, the only, Brody Fossett. What's up, man?
- [00:16]
B
What's up, Joe? The one, the only, Joe Jensen. The host. The host of all time. Joe's so good at this job. I don't know if there's anybody that can do a better job than Joe.
- [00:31]
A
You know, it's. It's not a bad gig when you just get to talk to interesting people about interesting things. Makes life easy, you know? I'm stoked. It's been a minute since we've jammed. You've been changing your life. You move into the islands, growing your hair out, playing in the dirt. How. How's the move to Maui been going?
- [00:49]
B
Dude, it's been really good. Yeah, I'm excited just to. To jam on that, on life, on real estate, on everything today. So thanks for allowing me to be on this podcast, but it's been good, man. It's. Obviously, it's been something I've wanted to do for a while, wrote down for a while. Wanted to own a beach house. Wanted to live, you know, part of the year in an island somewhere. On an island somewhere. And it's been really good on so many levels. It's been good for my family. We just feel more present. Everything's outside. The kids love it. They run around with their shoes off all the time. I go to the gym with my shoes off. Like, it's just. It's a different. Different pace of life. And, yeah, just honestly just enjoying it. So thanks for asking, brother.
- [01:34]
A
Yeah, man. Well, it's funny because I remember a few years ago, I lived out on Oahu for a while, and then I think it was after I moved back, but you were asking me, you're like, hey, what are your thoughts on living in Hawaii? Like, should I actually, like, do this? Should I think about it? I think it was a pretty infant idea at the time for you, but I was just like, do it. You'll never regret it. It's gonna be the best decision you ever make. Like, I love it. It was the best year of my life. And so it's so cool to see it all come to fruition. And now it's, like, actually happening.
- [02:01]
B
I know. I think I was just sending you random listings that, like, got me excited and fired up. What do you think about this house? Dude, it's in. It's in Hawaii. How cool would this be and. And picking your brain on that. But I feel like you did it Right. Like, you're always getting out, you're adventuring, you're actually, you know, experiencing the, the lifestyle. It's so easy. And this is, this is like, been a good reminder for me too, because I feel like a lot of people that move to Hawaii, they do it the opposite way, which is they play too much and they just hang out at the beach all the time and there's so many cool things to do. But like, the other day I was like, dude, I haven't been to the beach. It's been like a week and a half, two weeks. Like, what am I doing? And it was just kind of like a wake up call. I'm like, I live in this place where everyone comes here to vacation to, and I'm not even making time to go and enjoy it. And so just figuring out that balance has been really good for me as well.
- [02:55]
A
Yeah, man. It's interesting. Like, obviously you're a super hard worker and you, you focus a lot on building the, the school and obviously congrats on the school. It's coming up to its first year. Like, it's, I mean, what, it's, it's birthdays coming up of your first year of students. That's been super cool. It's been fun for me coaching them.
- [03:12]
B
Seeing them come to the end.
- [03:14]
A
And it's funny because some students you see, like, they don't even show up to their calls and they bring nothing to the table and they've been lazy with it and not much has happened. Surprise, surprise. And then other students I have, and it's like, holy smokes. They've done like all these amazing things. I remember one student almost a year ago, and they were chatting, they're like, oh, we want to do like multi families, however that works. Like, they had no clue, right? It was just this dream. And now they, they own like a couple dozen duplexes. They just put an offer on this like, 14 unit and they're like, tell me all the different strategies of, to like optimize the money on it. I was just like, look at you guys. Like, look what's happened in the past year from this like, concept to just this hard reality of, of actually happening. It's so cool to see things like that come to fruition, you know?
- [04:02]
B
Dude, I love that. Yeah, I love hearing stories like that. It just gets me fired up. And it's sometimes too. You don't realize how far you've come until you stop and look, look back and you're like, wow, I actually have learned so much and I've done these things or I've built my passive income to this level and now I experience this type of freedom. And so it's one reason I love coming up on the end of the year for those reasons. But yeah, all those success stories, like, dude, it fires me up. And honestly, it's what it's all about, right? Not just for the fact that, okay, this person now is more financially free or making more money. And really it's the byproduct of that, right? It's like two layers down of, because they figured out the real estate stuff, you know, through coaching, through working with you, the program, the school, they became, you know, more financially stable, more financially free. And then it's that next layer that's really powerful. Now they live life on the terms now they quit their 9 to 5 and spend, you know, more time doing what they want or more time with their family, or now they spend more time giving back and they're in this position where they're getting more enjoyment out of life. And I think that's the ultimate gift. You can give that to somebody, right, because you can hand somebody, you know, $10,000, $100,000, $500,000 and it doesn't do nearly as much for them if you can give them time and you can give them fulfillment and, and honestly, like bliss of just enjoying a more quality life. And so really that's what it's all about. And so I think that the first step or one of the steps to that is obviously setting yourself up financially to where you don't have to trade your time for money. And every deal goes towards that. And I love seeing that in people's lives and students. It's honestly, it's what, what fires me up. And.
- [05:59]
A
Yeah, dude, it's so cool. And it's funny because real estate is so unique where it's like, obviously you can make a lot of money in it, right? You can do it actively, you can do passively, but it's also just like interesting and fun to do, you know, like my little boy, I have a 4 year old, he just turned 4 on Halloween and he loves playing like the video games in my car. And he, you know, someone was asking like, why, why did boys love video games so much? Like, what is it about video games? And it's like, I think that it's just as men a lot, we're very task oriented, right? Like we just go like, see this thing, accomplish it, move forward, like, and video games dial in on those tasks. But I feel like real Estate has done that for me as well. It's like I love seeing this task. I can accomplish it, move on, have this project. And it comes very task oriented. And I think that's why you see people, even when they've made it, they don't need more money. They still love playing the real estate game, right? It's such a fun thing to get into and it's very fulfilling and just doing it and, and as you know, real estate people love to talk about real estate. Like I've never seen an industry where people are more willing to just share every detail of their success and their secrets and this and that for good or for bad. They just, they love to talk about it. Like we're sitting here talking about it, you know.
- [07:18]
B
Yeah, yeah, no, I completely agree. It doesn't matter how successful somebody is either. And that's what's also nice when you're just getting started because secretly knowing that everybody likes to talk about it, you can get in circles with people that are doing really cool things and you can learn from simply because they love to share their knowledge and talk real estate. But I think too I relate it back to growing up. I used to love to build things with my hands. And whether it be like a fort in the backyard or ceramics class in high school, like just this idea of taking something that was in my mind and then being able to use your, your creativity and then your hands to build it and then it comes to fruition, it turns into something. And speaking of video games and, and real estate, I think taking that and then all of a sudden realizing, wait, wait, I can use my creativity, I can use some of these like hands on skills to take this game to a whole nother level where I'm still creative using those parts of my brain. But all of a sudden now it turns into creating money and passive income and a different type of lifestyle and it gets really exciting. And then I think the other thing to remember too is there's different levels and depending on which level you're on, there's different things and different decisions that you're going to make. Inside real estate investing. And a good example, I guess of what I mean by this is, you know, you're starting out, you're willing to trade a lot more of your time to get a higher return on something. Whereas the more money you become worth. Is that the best way to say it? The more your net worth increases, maybe, or the more your dollar per hour goes up, you're all of a sudden not willing to do as much of those things, right? You're willing to trade more of your money for time, whereas starting out, you're willing to trade more of your time for money. And, you know, like, starting out, my wife and I did so many of these, like, live in flips and the house hacking, and the house hack hopping and fixing up our own properties because we don't want to pay someone to go and do it to save money here and there. But it's interesting now because. And I told my wife this, we were looking at a property and she was. This is actually yesterday this property came up. It's actually out, and it's in Maui and is listed at 2.4 million bucks. But they're willing to sell or finance it, right. At 4% interest rate. Okay. And bank is right now. Right, exactly. And so that's why it stood out to me. We started talking about it and my wife's like, yeah, but there's. There's no. They call mohanas out here, but there's no studio apartments to like, they're like, attached to the house. Like, yeah, babe, like, I agree. You know, but it's almost. We've gotten to that level now where you don't have to rely on that as much as we used to. And she's like, right, actually, you're right. Like, we don't. It's not like we need to live there and rent it out and have somebody supplementing the mortgage. Right. Whereas in the past, and even the house that I'm in now, I was.
- [10:29]
A
Gonna say even right now, that's what you do. I want to talk about a little bit about that as well, but. Yeah, go on.
- [10:33]
B
Yeah, yeah, we can jam on it. But anyhow, point I'm trying to make is, is. And don't get me wrong, like, I'll take, you know, as many people helping supplement my mortgage as possible any day of the week. But it does start to change and you start to make different decisions. And even from a lot of investments that I normally would pull the trigger on, or right now, I have a deal that's lined up. Like, literally I just need to text him back and say, yes. And it's. Everything's teed up. It's amazing, right? Seller finance for 30 years, higher interest rate, but still lower than what you get at the bank at six and a half percent. And that's. That's fixed and locked in. But, like, I'm like, ah, this is a good deal, but it's not a great deal. And in the past, I would have taken this Deal all day long. Right. But now I'm like, do I want to go through just having that property and the headache of owning it if it's not going to be great? And I say good and great and it's all relative. Right. And that's what I'm getting at now. A lot of my efforts have shifted and they're focusing on like, hey, if I'm going to put in my time and go put this deal together, like I want to make sure it's done at a high, high level and the return is off the charts for me. But it wasn't always that way. And I don't regret, you know, those stepping stones to kind of move up. And I'm sure fast forward in the future we'll be like laughing this conversation, me thinking like, oh, I thought I was doing big deals then. Like, no, this is actually what I'm doing now.
- [12:02]
A
Can you give us some examples of you. You're saying, oh, it's a good deal, but not a great deal. What are some things that makes it a good deal and what are some things that make it a great deal? You'd be even more stoked on it. So people can kind of get an idea what you're thinking with that.
- [12:19]
B
Yeah. So, and I'll give a few examples because I feel like it's changed a little bit. Right. Because what this deal being a good deal to me now, It's a good deal. In the past it was a great deal. So I also am looking at it differently than I was in the past. Right. And, and more so what I mean on this one and going through these different levels and growing as like an investor and an experience and honestly, just like I said, dollar per hour and what you're worth, I'm talking mostly about like cash flow on the deal now I consider a good deal versus a great deal. Really comes down to like your cash on cash return. And that's what always have kind of focused on. And that's what I would emphasize here. But in this specific example, like I'm getting into this property. Oh. The other cool part about it is it's, it's $10,000 down, right. Which works out to be it's like.
- [13:12]
A
4%, $10,000 down on a 2 million dollar property.
- [13:15]
B
No, no, no. Sorry, sorry. We're mixing, we're mixing conversations. This is on the seller finance, the other seller finance deal, right. The one that's like teed up waiting there. He's willing to sell or finance it for 30 years, six and a half percent interest rate. Okay, gotcha. It's, it's 300 and I think $35,000.
- [13:35]
A
All right, that makes a little more sense. I was like, yeah, there you go.
- [13:39]
B
Different deal. But point I'm trying to make is like, with, with that deal, like, I'm getting into it, it's next to nothing down and it's going to cash flow and the cash on cash return is going to be good. And so typically, and that's how I usually always analyze deals. It's like, dude, this is awesome. This is going to be great. But now I'm also looking at it at a different level of, okay, even though I'm getting this for low money down, and the cash flow is only, you know, 300 bucks a month, like, is it worth it? The bandwidth of like having this property and just worrying about it, stressing about is it worth it? When I could take this energy and go take down something bigger, better. Right. And so that. That's more the emphasis I was trying to make. And I'm not saying that like I'll probably.
- [14:21]
A
It's not even that about the numbers where it's like, oh, well, before I wanted of 8% cash and cash, sure. Now I only do 12. It's more of like the effort and the bandwidth and like the brain and energy going into it.
- [14:34]
B
Yeah, that's a return on energy. Return on energy is the best way to put it. It's like, is this worth the input of energy? If I'm looking at it, like I said, straight cash on cash, 100%, it's worth it. I will do this deal all day. Right. Because I think the cash on cash is like 40%, which is phenomenal. Right. But when I look at it from an energy stand, plus no bank, no. No credit, low money down. You know, that's one reason why I love real estate. But anyhow, other than that and other than this scenario and talking about jumping up levels, difference in a good deal and a great deal for me is you can define it a lot of different ways, but one of them is, yeah, cash on cash return, the amount of money that it's going to take for me to acquire this property, how quickly am I getting paid that money back? And if I can compare this to other deals or other opportunities that I have, and maybe this other opportunity allows me to get my money back out a lot quicker. Right. And a higher return or that I'm going to take this other opportunity. So that's the easiest way to put it is cash on cash return, how much Money does this require for you to put in and how quick do you get that money back? And obviously the best way to do it is to try and negotiate terms where you put the least amount of your own money into the deal, even if that means bringing on a partner and they put in a lot of the money, whatever. And then on the flip side, you want to get the most amount of money out as fast as you can. Yeah. Quicker you get paid back that money, obviously you can redeploy it, reinvest it, recycle it and just compounds from there.
- [16:14]
A
Yeah, well, and I love like what you said about the energy with it too, because I, in general, you see that the, the ones that are going to give you the best cash on cash returns are going to be more of a headache. Right. You know, I mean, you can, they're going to be upkeep and more energy going to that and ones that are just very like a brand new build that's turnkey, that's, you know, professionally managed, you know, you're probably not going to get as high of a return on that. But the headaches can be like null, you know. And that's something I love about real estate is you go, okay, where's my life out right now? And I can customize exactly how I want to do real estate investing to my life. Whether I want to spend one hour a week or 20 hours a week or 10 hours a day. Like however much you want to do, you can tweak and customize and mold it to fit your life. And as you were saying, that'll shift over the years as your portfolio grows and your, your priorities change. And you can shift it with you. You know, there's not a lot of careers that you can just shift and customize to whatever you want it to be, which is so cool. With real estate, it's very unique, you know, because you can do it hands on. Like you were saying where you're doing live in flips and you're like, you know, changing toilets and light bulbs and stuff. Or I started doing a lot of out of state stuff and it forced me to not do any of that because I couldn't, which was great because I'd be willing to if I could. And I was glad that I wasn't close enough to do it. And people talk about that. It's like the best thing you can do is to not buy close because then you have to, you're not allowed to do any of the nitty gritty stuff, you know, for sure.
- [17:53]
B
And you have to pencil it into your numbers. Right. You have to account for that. If something happens, you can't be the one to go fix it. And so you have to look for extra good deals. There has to be more meat on the bone.
- [18:05]
A
Yeah. And it obviously it can be annoying too. There's like the little things, like, man, it'd be a lot easier just drive down there right now, hire somebody to drive down there and go through this headache. But, but there's pros and cons to everything. But it's so customizable. I want to talk a little bit about buying your Hawaii house because it's cool. Because not only did you decide to go there and you mentioned you're like, oh, I was showing you these different deals, like, what about this? What about this? You're like, look at these big beautiful, like, you know, multi acre farms and all this cool stuff. And then the one you ended up getting was this like old, beat up kind of a multi unit with a couple studios. And then you rehabbed the whole thing, did the whole birthing. And that's just so cool. It's like you, you have this like heart of like, oh, I want to go live in paradise. But you still had your investor mind where you're like, this is how I'm going to do it and I'm going to tackle it wisely. Where it's going to self pay for itself and be an awesome investment in the long run. And even if you live in it for a while and don't rent it out or do whatever you want, it's still designed in a way that it will be a good investment. Which is so cool because so many people go buy their primary residence and when they're ready to turn around and turn into investment, it's whack. It's not good as an investment. And they didn't think about that initially, but you obviously did, which is cool.
- [19:25]
B
Yeah, no thanks, man. I love this deal. Just because we eat, sleep and breathe real estate investing. And this one's cool because it's just another example of how cool real estate investing is, especially from a standpoint of what it can do for your lifestyle. And you know this. But I consider myself a lifestyle investor. Right. Like I want to live my life and fit business in around my life versus, you know, live my business and then fit life in around my business. That's just not how, how I roll. It's not how I want to roll. Right. Everything I do, like I want to do it with the mindset of how is this going to make a better lifestyle, a better quality of life. Like, what are the things that are going to fire me up every day? How do I want to live that? How am I going to, you know, be fulfilled on a daily basis and give back? And then thinking of all those things, it's, how does real estate and my investing strategy fit into that to where it allows me to build that? Right? And so this one's just cool because something intentionally wrote down for a long time, like, I want to have a beach house somewhere. And kind of the whole backstory is another thing that I wrote down for. For a long time, like years, was I want to spend one month out of the year in a different country somewhere. More. More than just a vacation. We're gone longer than just a week at a time. But go there with my family, we can get to know the culture a little bit and all these things. Right? Anyhow, last year, what we ended up doing was going to St. Thomas for the month of November. St. Thomas is still part of the US but it felt like a different country. But it was awesome. We got this beach house for a month, and my extended family came out for, you know, a week of that. And it was cool to have them there and all these things. But ultimately, while I was there, it felt like normal life from the standpoint of wake up in the morning, my wife and I would, you know, work just right. Right by the beach overlooking the ocean. We brought our nanny out there with us. It was great. And then, like the last half of the day, we finish work early and we go to the beach every single day and just spend time together. And it was like, very, very present, intentional, dedicated. We, like, we watched Disney movies every night with the girls. Just something that I remember right? And it was just a good time. And so after that vacation, we were like, man, life was just good. It was. It was simpler. Maybe we should look for a place out here. And so started looking kind of out there a little bit, and then different reasons, right? Being on a smaller island, like, that's more of being like a third world country. And so we're like, maybe let's. Let's look in Hawaii and see what things are like. There'd be a little bit easier of a place to live with younger kids. And so that led to that and just started looking at properties. I came out for a real estate conference or mastermind group with Brandon Turner and Tarl Yarber. And so I was out in Maui, and so I started looking while I was out there. We got A little bit more serious about it. A little more serious about it. And then took another trip back where we spent 10 days just looking for a place and we're like, let's go find something. And it was interesting. Like, throughout those 10 days, I feel like everybody felt maybe six months ago where they're complaining about, I put an offer in and then I get out bid, and it's all cash. And a lot of things that were happening here was a property would come available. And I was looking for a lot of different things, right? Things I was. The main thing I was thinking about was, hey, what's zoned to where I can Airbnb it? And so let's buy something there. Then we can just be here a few weeks or months out of the year, whatever we want to do, and we could Airbnb it when we're gone. And so anyhow, that kept happening. Ultimately we left and we tore a bunch of properties, but same thing. Anything we put an offer in on, like, it was all cash and it was gone the next day. And the day we got home, I'm on Zillow and I see this property come up and there's one picture on the outside and it's just like a crappy picture. But like, in the description, I like the location of it. The end of a cul de sac close to the beach. And in the description, it said something about having three kitchens. And you guys that are real estate investors, everybody listening to this, probably that's like a sign, right? Goes off.
- [23:52]
A
Three kitchens.
- [23:53]
B
Three kitchens. What does that mean? Same thing with, same thing with seeing one picture on a listing. Like, I also love that stuff, especially if it's a bad quality picture, because a lot of people are looking for the lay downs. They're looking for, you know, the turnkey properties. They have all the pictures there. It's all there. It's ready to go. It's done. Well, guess what? Because everybody's looking for that by default, it's going to drive up the price, yada, yada, yada. So long story short, we put an offer in on this, like, sight unseen. I'm like, let's just do it. We've, you know, we've been putting offers in on so many properties and everything's going. Let's just cross our fingers and send this one. And ultimately got under contract and kind of like the quick rundown of the numbers, basically. Well, I don't know how deep you want me to go. Originally you put under contract for 1.2, but I ended up Buying it for a million bucks even because you gave.
- [24:46]
A
Them a cash offer, right?
- [24:48]
B
Yeah. So what happened was once we were under contract, I gave them three options. I wanted to sell or finance it to me for a lot of different reasons. And I knew the lady had it paid off and she owned it outright. And so I'm saying, hey, here's three scenarios. Like, obviously we're still solid moving forward on the house, but here are three options. Like one option, can't remember all of them. One option, she would sell or finance the whole thing. The other one, she seller, finance a portion of it. And then the third option was we'll give you a million bucks cash. And not thinking she would go for the third option because, you know, it's $200,000 less. They had tenants in there at the time and they had to give them 45 days notice. So it's not like a cash offer would allow them to close quicker, which is usually one of the reasons why people want to accept a cash offer. That or maybe they're worried about it appraising or something like that or going through. And so long story short, end up getting it for a million bucks. It appraises for 1.55 after $150,000 rehab. Okay. So if you do the quick math on it, there's roughly $400,000 of equity that was just created in this house. Right. And so the cool thing with real estate is you can leverage different things. And one of the things we did was we leveraged hard money for the million bucks to close on the house cash. And funny enough, that was an 8%. An 8% interest rate on. On hard money, which it's just crazy where rates are now, right? It's like, that's like just as good as getting long term financing, which normally that's not the case.
- [26:31]
A
You're like, you don't even pay off the hard money. You're like, no, let's just let it ride.
- [26:36]
B
Yeah, yeah, it's a, it's a 12 month loan, but you could probably negotiate it longer if you wanted to. But anyhow, so the idea, we haven't. We're just finishing the re. The remodel right now. I actually just had to go ask the guys to turn down their music a little bit because they're sanding everything to paint the outside. But. But yeah, long story short, the house has a main house, which is three bedrooms, two baths, and that's where my family's at. And then there's two studio apartments. So one of them's in the back, back. It's like a two story. It's cool. Off the deck, you can see the ocean and everything. And the other ones in the front. But Hawaii's wild, right? So each of these studio apartments rent for about $2,500 each, which is crazy. And so it gets pretty close to covering the mortgage on the main house. And that is the, the basic kind of rundown of the deal. Obviously, you know, this is kind of like the Burr strategy where you buy a property, you rehab it, and then you eventually rent it out and then you refinance it, right. And you pull all of that cash out plus some. So I'll finish off on my refi here probably like this month and I, I'll probably cash out, I don't know, a couple hundred thousand dollars, right. So crazy. Not only am I in the property with nothing, but then I also will take some money off the table because of what it's going to appraise for. And we went kind of above and beyond on the, on the remodel as well. But that's kind of like a, probably more information than you're asking for, but.
- [28:16]
A
Dude, but that, that's the Brody faucet special, man. Like you're so creative with how you approach your deals that, you know, we were able to get creative enough to pull out, you know, a couple hundred thousand. Like most people spend a couple hundred thousand to buy a multi unit in Hawaii. They don't get paid a couple hundred thousand for it, you know, and even, let's talk about like the downside. Like, oh man, like you're refinancing this. I'm sure the interest rate is, you know, way more than you imagined it would be when you were first running the numbers on the deal. But in my mind I'm thinking this like, okay, so interest rates doubled while you were waiting to refinance this. Like that's the scary thing about a birth. But if you're able to pull out a couple hundred thousand dollars, like I think that can carry you over until interest rates drop a little bit. Like it gives you a lot. You go buy multiple other properties that are cash flowing enough to cover the higher interest payments. Like it just gives you so much options. Even though things didn't turn out perfect, where it's like you wouldn't have hoped interest rates were up at 7 or 8% right when you're doing your refinance, you know, but it still works out.
- [29:21]
B
You know, I'm so glad you brought that up because what's been Going on the Internet right now, and it's been this really popular post. And it's two houses. There's same house side by side, and one says, you know, the 2021. One says 2022 above it. And then it lists all the stats. You know, I'm talking about. You've seen this.
- [29:40]
A
Yeah, I've been seeing this. Like at the, you know, million dollar house, 3% versus 8%. And so how much?
- [29:45]
B
The only difference is the interest rate. Right. And then after the interest rate, it shows the difference in the payments. And people like, this is the biggest thing to change and this is what you have to be aware of. And yada, yada, yada, which it's like, well, yeah, for sure. But what you just touched on and what you just talked about, it doesn't mean that. Yes, interest rates changing affect the price. Yeah. But guess what else changes when that happens? You know, the option to sell or finance a property, the option to get a property under what it appraises for. The option to do what you were talking about, that I just did with my property, where you pull out a couple hundred grand. Well, that couple hundred thousand dollars, that more than makes up for the extra thousand dollars a month for a year, two years, until the market drops back down. Or, sorry, not the market, the interest rates come back down, and then you refinance it. Like, that's the only thing about that.
- [30:38]
A
Literally, if your mortgage. Yeah. If your mortgage went $1,000 more a month and you're getting 100,000, like, that's 100 months that you're like, you're still good. You know, 100 months is a long. That's two years. Like, interest rates, I think will drop a lot in the next two. I mean, it's like. And if you had 200,000, there's. There's just so many wins with real estate. Even if it doesn't turn out the way you planned, it wasn't like that's not what you penciled in, but it still works out if, if you're. If you're smart with it, you're creative, and you, you put those pieces together. And what's interesting is that's not the only route to do it. Right. So you, you obviously have, you know, you've done remodels, you've done kind of that bird thing and stuff. My bandwidth, I've been focused more on, like, turnkey stuff. And so I wasn't ready to bite off this big project where it's like, oh, I'm gonna, you know, remodel it and do this and do that and refinance and take out hard money and you know. But I've been looking for the same thing in Hawaii and I finally, hopefully will be closing this Friday. It's, we've been on like our fourth extension of closing on this thing, but it's a three unit as well. But I'm doing a house hack, so I'm just doing it as a primary residence and so. But there's three units. It has a three bedroom, a two bedroom and a studio. And I'm like, oh, sweet. So I can live in a section, I can rent out the other sections, but it's all technically a single family primary residence. And it was the cookie cutter. Everything was done. I don't have to do anything. But because it's a primary residence, I'm putting 5% down. It's going to cost me like 30 grand and I'm going to have this whole thing. So it's not as creative as what you did, but I'm not tying up a million dollars or hundreds of thousands of dollars. Like it's very, very affordable to get in and do. And the funny thing is people might be like, oh well, that wouldn't work for me because maybe I couldn't afford that house or I couldn't do this. That. Talking about bad timing, you know, you mentioned how you got it. You went and looked 10 days to buy a property, flew back to the mainland, and then you end up getting it this under contract site unseen. It's like the timing's stupid, right?
- [32:45]
B
Right. Yeah.
- [32:46]
A
I had been extending my taxes so that I could qualify to buy a more expensive house. And I knew when I filed my most recent taxes, I wouldn't qualify because I just wrote everything off. I was like, I'm tired of paying taxes. I'm going to write everything off. But I know it'll hurt my loans, right? And I been looking for a year and a half for this house hack where it would cover its own costs and be self sufficient and the skills give me my unit to live in. And I finally gave up. It'd been so long. My, my CPA is like, dude, you gotta file your taxes. I'm like, fine, just do it. I'm never gonna find the property. Two days later. Two days after I file my taxes, I find the property, get it under contract, and then I'm not gonna qualify for the loan. I find out because he filed it out. I'm like messing him, like, don't do it. I found the place. He's like, it's too late, dude. And my lender like reviews it when it comes through. He's like, yeah, you don't qualify. I'm like, son of a. But so anyway, I ended up bringing on a co signing partner who's co signing on and he's going to get all these tax write offs. I'm going to give him all the tax benefits because he'll actually own the home, he'll be on there. And obviously I don't need the tax write offs because that's the whole problem is I wrote everything off. Right. But he's signing on and he's going to get, you know, 20, 30, $40,000 in tax benefits and he's not putting a penny into the deal. Huge win, win. And that's for, you know, I had 20 or 30 grand that I could put into the deal, but I had, didn't have the credit apparently or the, you know, didn't qualify. There's just always a solution and, and that's without lifting a hammer or remodeling or refinancing or doing anything creative except for hafting the last minute, bring in a co signer. But it's just, that's so cool that there's so many different ways to, to do it. You know what I mean?
- [34:32]
B
Yeah, yeah, I love that man, because I even remember you hitting me up about that deal and like you just find a way to get it done. You know, there's obstacles, there's things that come up, but there's always a way to get it done. There's always an option to make it happen. Someone tells you you don't qualify. There's always a way to qualify. I even saw today it was just a post on Instagram. Somebody I, some investor I follow in Hawaii somewhere but basically posted and just saying like, hey, we have a house that's coming up, it's almost finished with the rehab. It's going to allow you to live in Hawaii with no money down and no mortgage every single month. And then it's like more in the description. And so I was just reading the description and of course it was set up. He just said, hey, this property has an ohana attached to it. It rents for this much, it'll cover the mortgage most likely or most of it. And then if you put 3.5% down and owner occupy it, what we will do as the seller is seller, finance that 3.5% down payment. And so you're getting into it with no money down and then you have this other unit that's attached to it, that's covering the mortgage. Mortgage. And so I think that one, it's cool because it's just like, yeah, there's always a way to do stuff and make stuff happen. But then two, like I said, there's so much emphasis right now on the market that's put on how high interest rates are. But you would never have a seller willing to do that a couple of months ago. It just wouldn't work out that way. And so I think, yeah, recognize rates for where they're at and obviously account for them in your numbers and how you're penciling things, but also account for the opportunities that come with where the market's at right now. And seller financing and being able to negotiate a deal that works out on your behalf is huge. That goes such a long ways. Yeah.
- [36:33]
A
And depending on what your situation is, that could be way better than lower rates. Right. I mean, what good's a low rate if you don't have the money to do it? I'll take a high rate if I don't have to spend any money.
- [36:46]
B
Well, let's just look at like from a return standpoint, right? We're going back to the cash on cash return, which is how, like I said, most of the time we're looking at deals that along with your energy, your return on your energy. But with cash on cash return, if you can get into a deal, let's say only cash flow is $100 a month because rates are higher right now, but there's an option for you to buy it with zero down. Now let's compare that to where rates are a little bit lower. And maybe you cash flow $500. Right. Or even $1,000 because it's a lower rate. Obviously depends on the purchase price. But you have to put down 20%, 20, 50, 100 grand down. Like we look at it from a return standpoint, a cash on cash return one, it doesn't matter. You're cash flowing more money per month you have. You also had to put in way more money. Your return on no money is infinite. You didn't have to put any money into the deal. As long as you're getting some sort of a return, it's an infinite return versus having to put money down.
- [37:56]
A
Yeah. And not only that, you talk about differences in the market is. Well, one thing I'd say this, and then I'll mention that is before I was a actual real estate investor, people talk like, oh, is it a good time to buy? Or the market's good or the market's bad. Now that I understand the game, there's no such thing as a good or bad market. There's different pros and cons presenting themselves. That's it. There's just different situations that are good that you can take advantage of, and there's other things that are hard in that certain environment. But it's always a buyer's market. It just depends on how you approach it. There's no such thing as a good or bad market, just pros and cons.
- [38:34]
B
It's always a seller's market, too.
- [38:37]
A
Exactly.
- [38:38]
B
You know, it just all depends how you negotiate certain things. And it's all about creating a win win scenario, no matter what side of it you're on. Right, Exactly.
- [38:47]
A
You just work with this, with. With the environment and just know that that's the reality of the environment. Not good or bad. That's just the reality of it. So you work around it 100%.
- [38:56]
B
There's a reason that successful investors are successful during downturns. I mean, as well as when the market's doing great. Right. There's a reason for that. And it's not because they have all this money that just stashed away. And all of a sudden a downturn comes and it's like, sweet. People who have money can now go make more money has nothing to do with that. Right. It's about being seasoned to the point where you know and you understand, okay, these are where things are at. In order for this to make sense. For me, this is how I can go and exploit the market or take advantage of what's happening right now. And understanding how to go and do that and the ways to do that is huge, especially because it's going to be individual for each person. Everybody has different strengths, different weaknesses. Right. And everybody's in a different situation, a different spot in life, and they want something different, probably. Right. We have different paths and different goals. And so, I mean, just another reason why I love real estate investing school. And like, I appreciate you, like, as a coach working with people one on one and all the other coaches, because it's like, when else do we have a mentor or someone that's like, hey, here's what's going on in the market, and we're bringing in expert speakers and people that are way smarter than you and I both combined? Probably you're a little bit smarter than me, but still with us combined, they're still probably smarter than both of us. And like, we get to hear from them what's going on. And then taking that Information and, like, really getting to know someone's situation and dialing it in to be, like, cool. Here's how you and your situation can go exploit this opportunity and go make it rain over the next couple years.
- [40:37]
A
Well, and there's so many little tricks. And that's the interesting thing is you can know so much and then somebody else who knows, let's say way less than you, but they know two or little, three little things you didn't ever think of, and that could be a game changer for you. And that's what I love about real estate. You know, I listen to all the podcasts and books and all this stuff. It's like I'm always picking up one more thing from somebody. It's like, oh, that's cool. And it's a liquid playing field, right? It's always changing. Like, the rules change, there's incentives that change. And so it's like you might even if you knew literally everything there is to know today, which is impossible, but if you did, next year, you'd be behind and somebody else who's new and just figured out what's going on right then could. Could educate you, which is super cool. You know, there's no end to education with real estate.
- [41:24]
B
No. And it's. Everything's only one deal away. You know, your next breakthrough is one deal away. Next. Next level of life and freedom is one deal. One deal can change everything. And that's what I've noticed that especially recently. You can take a little bit of knowledge, a little bit creativity and insert that to find or put together something. And one, you can retire off of one deal. You can retire your parents off of one deal. And it doesn't mean one deal that cost you hundreds of thousands of dollars. Right? One deal that you put together and you got creative on because you really dove into understanding and getting the education that you need on real estate.
- [42:05]
A
Yeah, no, it's so true. It really is crazy. And kind of going back a little bit to where you're talking about the environment of the market, the pros and cons, you're saying, like, oh, well, now you can get more seller financing. You get these things that you wouldn't have got, you know, you know, back when, when rates were super low, but also, you know, when the interest rates go really high, typically sales prices will come down to try to compensate. And so for a while there, people were putting in, you know, offers that were way over asking, you know, over appraisal, even people were, you know, paying way over what it even was Worth and that was just what was going on. But interest rates were dirt cheap, so it was cool. The house that I just, my Hawaii house I'm working on right now, it was interesting because obviously the interest rates are a little higher than they would have been two years ago, but the purchase price is way lower. You know, they would have been selling this for way more. In fact I, it was 25,000 under appraisal, so it like already appraised. I already have instant equity. I'm about in at 25,000 for the down payment or whatever. And so it's like that's an infinite return right there on my network.
- [43:09]
B
And it put you under the mark to where you, you can get an owner occupied loan to cover the whole thing, Right?
- [43:15]
A
Exactly.
- [43:16]
B
What is it in Hawaii? Seven, seven something?
- [43:19]
A
No, it's like nine. But, but yeah, the place I'm getting is 750. I think the conventional loan limit is, is 900 something in, in Hawaii. But, but yeah, I mean that was thing if it was above that I might have missed it, you know. So it brought the prices down even though interest rates were a little higher. But, but that's good. And here's the thing, and this is why I keep telling everybody, I'm like look, if your purchase price is high and your interest rates low, that's never going to change. Like you're always going to have your purchase price, let's say it was at 800,000, right. And the interest rates three, you're never going to get better interest rate. And that's, you're never going to change the purchase price. But you flip that around, you get a place at 700,000 or 600,000 and the interest rate 7 or 8%. Well you got a couple hundred thousand dollars off the purchase price. And that interest rate you can change, right? Like you give it a couple years and you can go change the interest rate. You can't change the purchase price, you can't renegotiate that four years down the road. And so it's like that's pretty cool. So like that's a pro of the environment right? Now would I take 2% interest? Sure. But if I don't have it, I'm okay with that too. Because there's ways to still make it be good.
- [44:30]
B
Well that's why they say you make your money when you buy, not when you sell. Right. And there's a reason for that. And it's exactly what you just said. You make your money when you buy. Because the nice thing is interest rates, you can always refinance later. So. Yeah, I love that. Good. It's a good topic, good conversation to be had just because it's on so many people's minds right now. And I think, like, I just sold my house today. I closed on it this morning. Oh, nice close on a house. And I bought it and I bought a lot today. It was nice. It, like some of the money that I was getting from my house, they literally, a title company just kept it and pushed it straight over to the, to the, the other deal. It was nice and smooth, but plus I did a online notary. That's so cool. Popular. Have you seen those?
- [45:15]
A
I've done one and it was the best.
- [45:18]
B
Nobody shows up to your house. It's all on the computer. It was cool. I lost my train of thought. But, oh, where I was going with that is like, with my house, it appraised for 1.425, right? Like, just barely, just recently appraised for that. Well, guess what? I sold it for 1.225, like $200,000.
- [45:44]
A
You mentioned that. And I wanted to hear about that because a couple people asked me the other two, like, why the hell with the real estate guy Brody, you know, why would he sell his place for 200,000 less than an appraised for? Like, break that logic down.
- [45:59]
B
Yeah, so, yeah, I'll break it down. So, I mean, basically, it's a perfect example of what's going on right now, right? And I bring that up because it's like, I don't sell a lot of properties, but it gives you an insight, and it gave me an insight into a seller's mind. The reason I was willing to do that was because my. It's been listed on the market for a little bit, right? And like, I don't. There's uncertainty about the future and what's going to happen. And I'm like, well, like, I only owe this much on the house, and do I want to really risk it and hold on to it for a few more months and hold strong on. On a price or. This is a deal, it's solid, it's ready to go. Like, they're ready to go. Do I just take this, accept it and move on? And you also start to think about time value, money, right? If I have X amount of equity that's tied up in this deal and it's going to sit on the market for a little bit longer, well, maybe I could take that money and go turn into something now that's going to work better for me. But it should give you an insight. That's why I bring it up. Just, you never know. And there was a minute there too where my wife and I were like, dude, somebody, like, all someone has to do is make us an offer. Now that we were desperate, but we were just like, yeah, we're ready to sell it. You know, we're all moved out. We've been moved out for a couple months. It's sitting there empty. Someone just make us a decent offer and we'll probably negotiate something with you and move on and you never know. And that's why, like, it's so powerful to put in lots of offers and you know, have your metrics and your, your goals and your key indicators and stuff of like how many offers you're putting in and how you're submitting those. And the other thing too was even like, if you've submitted offers to places and they haven't closed, going back to those, those sellers, if it's still on the market and asking them again, like, hey, just checking in to see if you're interested in working out a deal.
- [47:53]
A
Yeah, well, and it's cool because, you know, to kind of break that down, it's like the seller side of you is like, dang, interest rates are going up. This has been sitting on the market like, I want to sell my house, you know, so it kind of creates that fear and that urgency which, you know, you see in sellers. So that was going on and at the exact same time the investor side of you is going, well, dude, give me my money now and I'm going to go make it work. It's lazy sitting there in equity on a house that's not being used. But just give it to me now. I want to be in control of my money and my assets and make them work like today and maximize that. And so it's like that combination of that investor mind and, and the seller scared mind. It's like they can go together. That's the thing. And everybody's like, well, why is this person selling? That's always something. I ask myself, well, why are they selling? If it's a good deal and I'm excited to buy it, but why are they selling? Am I missing something? Dude, it's just situational. So many times, just situational. And, and one thing which is important.
- [48:51]
B
To understand, if you can understand their situation, then you can, you know, create a win win scenario.
- [48:57]
A
Yeah, it's not a zero sum game with real estate. It can be a win, win, win, win, win. It's not like, oh, well, this person's losing and this person's winning.
- [49:05]
B
Even with. Dude, even with seller financing, a lot of people, like, why would somebody ever want to sell or finance this? To me, and I'm like, dude, I can easily see why someone want to sell or finance it, because in a few years, like, I would love to be on the flip side of that, you know, seller financing a property to someone, you collect a down payment, you know, you take a lot of risk off the table. You keep your cash flow coming in. You don't have to stress about the property. You don't have to worry about it. Like, the way the payments are structured, you're collecting so much in interest right up front. Like, it's amazing, you know, so it's mitigating your risk even more. You don't need the money. You don't want to pay, you know, as much in taxes. And, like, there's so many reasons, but a lot of times we view things the way that we see them through our own eyes, right? And that doesn't always. It doesn't always serve us, right, because we can't see what makes sense for us, other people. And so I. I love that you brought that up, but it's, like, so important to understand, hey, what's going through this person's mind and what's important to them. And this deal I was telling you about earlier, when I was on the phone with the seller just a couple days ago, I was like, well, what's important to you? You know, what. What means a lot to you with this deal? Like, is it cash up front? Is it like, you want high interest? Like, what's the most? Is it the purchase price? You want to make sure you're. You're getting your dollar amount. And as soon as I found out what was important to him, because guess what? The next words out of his mouth were.
- [50:28]
A
What?
- [50:29]
B
I don't. He's like, I'm not. I don't care how much I get up front. I'm not concerned about how much money I have down. Like, I'm just more concerned about what I'm collecting each month. Well, it's like, boom, that's huge. Because now I know when I'm structuring my offer, which that was my offer, ten grand down on the property, which he said okay to. And I, you know, I could have probably said nothing down, I'm sure probably would have said okay to that. Right? And so it's just so important to know because that's how you're going to structure certain things. And I'm. I'm doing it towards my benefit, you know? Yeah. Like what? And his benefit for me and his benefit. Yes, yes.
- [51:07]
A
That's what's so cool.
- [51:08]
B
Exactly, exactly. It has to be that when it's like the Venn diagram, right? The circles, like, where do they. Where do the circles intersect to create, like, the. This. Win. Win. And what does that look like? And understanding that. And like, for me, like, cash is king, right? That's my whole strategy, how to use the least amount of money to build the most amount of passive income. And if a deal kind of fits that box, then, like, cool. I want to dive into that.
- [51:31]
A
Yeah, I love that, man. So where. Where is that one that you're. You're doing? Is that in Hawaii or is that located. It's in Utah. Okay.
- [51:41]
B
Yeah.
- [51:41]
A
That's cool.
- [51:42]
B
Yep.
- [51:42]
A
Yeah, man.
- [51:45]
B
The other thing, too, with that and, like, I've done a handful of those, but it just comes back to, I'm not anything special. Like, I don't have a team of, you know, people that are constantly looking for deals for me or anything like that. Like, I don't, you know, whatever. There's nothing different about me, probably, than like your average investor, except for, you know, more experience and. And whatnot. But with this deal, like, it came up for sale a few months ago, I asked the guy like, hey, would you willing to do this? He said, no, not right now, because, you know, I'm going to see if I can just sell it on my own. Well, that turned to cool. I'll follow back up. I followed back up. Yeah. Still not like, I want to see if I can sell it on my own. And not even on his own. He had an agent.
- [52:31]
A
Right.
- [52:31]
B
I want to see if I can sell it and just. Just be done with it. My K, no problem. Followed back up again. Hey, it's under contract right now. It looks pretty steady. It's supposed to close next week. I'm like, hey, no problem. And then he reached out to me. So after three times reaching out, then the last time he reached out to me and said, hey, that deal fell through. Their financing fell through. Like, you want to make something happen? And I'm like, yeah, let's make something happen. He's like, I know for you, like, you're gonna want me to sell our finance. And I'm like, yeah. And then that just opened up for the conversation. So I love. Yeah, man.
- [53:04]
A
I love that, man.
- [53:05]
B
So, so many cool things with real.
- [53:07]
A
Estate there is, man. We can kind of wrap up with this. It's just like, you know, is keep it as a priority. Like, that's what I've been telling a lot of people lately. I realized when. When looking for deals and trying to find properties or whatever is like third or fourth on my priority list, it's like, oh, man, there's no good deals out there. But when it's number one or maybe number two, it's like, there's deals, there's things happening, you know, you're following up, and when it's on your top of your priority list, you're doing all those things that you just mentioned, you're looking for them, you're following up, you're getting creative, your mind's in that game. And so you find ways to make things, deals and find deals that when it's third, fourth, fifth, sixth down on your priority list, your mindset's not there. And so you don't see the deal because you're just not fully in the game. But. But when it's all the way at the top of your priority list, like, there's deals all over the place, but you just gotta follow up, gotta get creative and just keep your mind in it. And it's. It's crazy what can happen. But yeah, man. Dude, we've been chatting for an hour already. Somehow, it's like, this is so fun. I love this stuff. And it's always fun.
- [54:10]
B
Hopefully it's fun for other people and not just us. I don't know, maybe like, why did you publish that, that conversation? You should have just kept that between.
- [54:19]
A
You, and you're like, did you guys mean to record that or were you guys just chatting?
- [54:23]
B
Dude.
- [54:23]
A
Well, that was the thing. When you asked me to do this podcast, I was like, yeah, that'd be great. I just want to talk to people about real estate. You know, it's like, I hope anybody else listens to it, but.
- [54:34]
B
But you're obviously crushing it. And. And the. This is, like, such a fun platform because I've learned so much through podcasts. It's actually probably like the number one thing I attribute my real estate success, too, is podcasts and learning that way. And I know a lot the same for you. And, like, we've already gotten a lot of good feedback from this show. And even though it feels like it's just getting started, we're not planning on stopping anytime soon. So thanks for. Thanks for listening. If you made it this far into it, and I think. I think, too, it's just like, you can do it. That's if anything, our message comes Across. And this is the. All of the shows and like this show especially, the reason we talk about this stuff is to show you and like, give you examples of real life, people that are no different from you, that are creating better quality of life. And if you can understand that and, and see enough examples, I hope that, like, you can have that belief of like, yeah, I can do something special. Like, yeah, I don't, I don't need to work 9 to 5 or I don't need to retire at 60 or 65 or like, I don't even know what the age of retirement is.50. I don't even know. Like, I don't even know because I definitely don't plan on making it that long. Right? So same thing for you. Like, you are capable of that. You can do that. There's nothing standing in your way. And hopefully like, you feel that the more of these you listen to and dive into. Because that is like the number one thing that I've learned over the years after seeing like, case study, case study, case study is that like, anybody can do it and completely change their life. You're more than capable.
- [56:14]
A
100%, man. It's so true. And I just echo, like, what I was saying before is that it's so customizable, right? You can make it whatever you want it to be. Maybe you don't want to quit your job or do this or that, so work it into that. You know what I mean? It's whatever you want it to be. And that's why it is so doable for everybody. Anybody listening to this, it's like, oh, I've thought about getting real estate. It's like, well, yeah, you can. Even if all you did was get more creative and get a better house for yourself on your next purchase. Like, that's dope. You know what I mean? Or you could build an entire empire in a huge business, or you could just kind of get a little portfolio and retire. Like, it's whatever you want to do with it. You know what I mean? Well, let's do some end off questions. I always ask everybody these questions. I almost forgot. Just because we've been.
- [56:59]
B
Oh, I thought we were gonna get off the, get off the hook.
- [57:01]
A
No, you, you gotta answer these. So here's our end off questions, Brody, and then I'll let you go. What is a bucket list item that you're excited to check off next? Non real estate related.
- [57:18]
B
Oh, dude, I should have thought these through because I know what the question.
- [57:21]
A
Putting on the spot.
- [57:24]
B
Yeah. So the first thing that Just, like, jumps out at me. I would love to flip a house for a family in need growing up. Did you ever see that show Miracle Makeover?
- [57:37]
A
Yeah, I know what you're talking about.
- [57:39]
B
Yeah.
- [57:40]
A
I don't know the name, but I know exactly what you're talking about.
- [57:42]
B
Yeah. Anyhow, that just jumped out to me. It's been something I would love to do. I think there's probably a good way to incorporate that with real estate, investing school. We could get people involved, but just like a family that's been struggling, I think it'd be so cool to send them on a trip and go in and just, like, make their house legit or something cool like that.
- [58:00]
A
I like it. I'm not sure if that's not real estate related. We'll just call that charity related. But we'll take it. We'll take it. All right, next question. Tell me a little bit about what freedom means in your life personally, right now.
- [58:19]
B
Personally right now. So I would say, honestly, freedom comes down to the way to measure it in my mind is how many days of the year do you feel at bliss? It doesn't take money to be blissful. Doesn't take monetary things, but it's just like this feeling of bliss, which I think comes from a lot of different things, but knowing, like, you gave your best, you did your best, you're reaching your potential, you're maximizing it, you're growing. You're becoming the person that God made for you to become. I feel like all those things lead to bliss. And so to me, if you can do that on a daily basis, and those days add up like that, to me, me, is freedom. Like, when you're blissful, you're truly free.
- [59:12]
A
I like that. I haven't heard that one yet. I love it. All right, last question, Brody, and we'll let you go. If you got to send out a text message to the entire world today. And I'm. I don't know if we asked you this last time. It can be different every time. I'm interested to hear what. What it'll be throughout the years. You know, we'll look back like that was your message, but what would you want to say to people right now in 2022, if you see. Send out a text message there, buddy.
- [59:41]
B
I'm trying to think of something that's not, like, super cheesy. And it's all right.
- [59:46]
A
We love cheese.
- [59:47]
B
My. My problem with these questions is I overthink them.
- [59:49]
A
Right.
- [59:50]
B
I only have one shot.
- [59:51]
A
It's got to be profound.
- [59:52]
B
It's got to be perfect. It's got to be. No, I mean, I'm. I feel like I'm super religious, and I believe that. Yeah, it'd probably be something along the lines of. Of that. I don't know exactly what that would look like, but other than, like, you know, God loves you. I had something deeper than that, but probably like that. Yeah, like, God loves you. He's aware of you and has a plan for you. Some. Something like that. Because I think that a lot of our struggles today come from not understanding that concept.
- [60:28]
A
Love it. Sweet, man. Well, we love you. Brody loves you. God loves you. There's lots of love around here, so I hope everybody's got some value out of this. Thanks for your time. You could be out surfing right now, you know, talking to us so we still can. All right. Sunset surf sessions are the best, anyway.
- [60:48]
B
Yes.
- [60:49]
A
All right. I'm coming to Maui soon. I got to see the place, so.
- [60:53]
B
Come on out, dude. We got a. Got a studio with your name on it.
- [60:57]
A
All right, perfect. Well, until next time, this is Joe Jensen signing off for the Real Estate Investing School podcast, reminding you to find your place.