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Real Estate Investing School Podcast
240: REAL DEAL: Creative Partnerships with Creative Financing (Part 1)
00:28:40
Welcome back to the Real Estate Investing School Podcast! This Real Deal episode focuses on a specific real estate deal in Southern Utah involving Eric Gubler and Brydger Purdy. Part one of this two-part episode, starts with Eric's perspective. Eric...
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- [00:00]
A
There's a lot of moving parts to this deal, but ultimately, I felt like it was witchcraft. The seller basically gave me a commission that I never touched, really, and basically bought me a house. And I was like, cool. Thanks.
- [00:15]
B
What's up, everybody? Welcome back to the Real Estate Investing School podcast. This is your host for today, Brody Fawcett. And we have a Real Deal series today. So this is a Real Deal episode where we talk about one specific real estate deal, and we have a little bit of a spin on today because there are two people that are involved in this deal, and we are interviewing one of them today and the other one next week. So this is going to be really cool because they're going to get two dynamics. One is really. They both have different roles, which you're going to see and find out. We're going to dive into. And you might find yourself resonating with one role a little bit more than the other role. And so it's just going to be so good to understand what that win. Win looks like. And let's dive into it. So we have Eric Gubler in the house.
- [01:05]
A
What's up, Goobs, man? Yeah, we recorded this before, but now we got to do it again. I like the idea of splitting it up because now I got to compete with Bridger to see who gets more downloads.
- [01:16]
B
That's right. That's right. Well, Bridgers in house, so he's got that going for him. But, you know, your setup is pretty dialed, so you have a good chat, too. So we'll see.
- [01:30]
A
Yeah, man.
- [01:32]
B
Yeah, let's do it. We did. We did record this earlier with both of you together, and. Yeah, this is gonna. I think this is gonna be good because just get different takes instead of doing it all in. Cram it all in one episode. It's gonna be good, I think.
- [01:45]
A
Well, I think it's good because we do have different perspectives on it. We have different roles, and this is a very uni. In fact, it's the first one I've ever heard of. And I've been around real estate for eight years as an agent, and I've helped people invest. I've invested myself. It's the first time I've ever done it. It's the first time I've ever heard of doing it. So. Actually, that's not true. There was one guy at a mastermind, your mastermind, that told me about this, and I was just, like, blown away. Like, how have I never thought of this before? So we'll dive into it and kind of give people the Keys to the castle.
- [02:14]
B
Boom. Dude dreaming. Bigger, faster. Power of the mastermind right there, which I love that you're a part of. Brings so much value. It's such a blast.
- [02:23]
A
I do, actually.
- [02:24]
B
I know. That's why I said it. I don't just say things just to say it. It's. It's a real. It's real, man. This is the real deal. This is real talk. So. Well, cool. You got people intrigued. What. Tell. Tell us kind of the overview of it really quick because they have no idea on what this is, how you guys structured it, like anything up until now. So give us a brief overview and we'll dive in deeper.
- [02:46]
A
Yeah. Now, I mean, I got to give Jake Ebert a shout out because he was the one that told me about it. The mastermind. It was Jake. So we're sitting there and it's kind of wrapping up the. The mastermind. Late at night, he comes to me like, hey, you're in real estate. Let me tell you about this, this deal that I recently did. And he knows Bridger, that you'll interview later. This could be this. That'll be part two to this. But he's like, you know, you should do with Bridger, you should do what I just did. You're an agent. You go. And he just needs somebody to be able to give him the financial backing, in other words, to get a loan, because he doesn't have. He makes good money. But at that point in time, he didn't have two years of income, so it was hard for him to qualify for his own primary residence. Well, Bridger is a hustler. He wants to be able to have his own house at a young age. And he's like just trying to find a way to make it work. So Jake's like, why don't you do this? Just go and get him under contract on a house. Use your real estate commission to be your half of the down payment. Have him be the other half of the down payment. Where interest rates are really high right now. You'll get a primary interest rate. So it'll help it to be able to cash flow better. Make sure you have a bunch of rooms. And then he just rents out all the other rooms to his buddies. You have an in house property manager and you get in it. Instead of being 20% down, you're 3% down. And that's the 3% commission. I just used that for half of it. So I'm, I'm into this property, basically $0 into this property because the commission paid for everything we have a lower interest rate. And once we ran out, we just finished framing two weeks ago, this other room. And downstairs we had this extra space where we now have another bedroom. So once we have all the bedrooms rented out, now that Bridger has now moved to Hawaii with you, we get to rent out the master ran out of the other bedroom. And both of us will make. I think it's going to be. If we get eight for the master, six for the other room, we'll basically split that because we're breaking even. So 700 bucks a month in cash flow on one property with $00 in.
- [04:46]
B
Yeah, that's pretty. So you guys will. You guys will. 700. You'll split. You'll split 1400. So amazing.
- [04:55]
A
It's amazing. Like the cash on cash return is insane.
- [04:58]
B
Yeah, it's so cool. So good. Cool. So this is going to be fun. This could be really fun to dive into. I love this specifically because it's not just looking at it from one angle of you. Right. As an experienced investor, someone who has the income to show can qualify for the loan. Right. Isn't putting any money down. And it's not just looking at it from only Bridger's perspective where, you know, he doesn't have access to that and it's a normal house hack for him, so to speak. You get both angles. So people that are listening, they're going to want to replicate it on your end and do what you did. And people that are also listening to Bridger's episode are going to want to go replicate it because they're more in Bridger shoes. So I love that. I love that about real estate. So cool. So Jake actually gave you like he used Bridger and they're like, go do this with Bridger. Is that what he told you to do?
- [05:47]
A
Yeah, he knew that I knew he knew Bridger. He'd done it with some other kid. He's like, you should do this. And I was just like, it's brilliant.
- [05:56]
B
Yeah.
- [05:56]
A
What do I have to lose? Like nothing.
- [05:59]
B
Yeah. That's awesome, man. And like with siblings, I've kind of done the same thing where my parents did that for me. Like they co signed for me and it was all my down payment. Well, actually, no. So my mom was an agent, so she used her commission, which actually covered the down payment of the house is 160. 160 grand. And the cool thing with that is my parents didn't really like think it through on like, hey, we're going to split this 50, 50 or anything. Like that my parents have done the same thing now for one of my other siblings and their 50, 50 partners on it for that reason because they saw what it was doing and I think they were like kicking themselves in the foot. But that was a huge thing for me. And same thing, I lived in one of the rooms. I, because of that got an FHA loan. Owner, owner occupied, you know, low down payment and and then throughout that process they came to me. It was probably, I don't know, a little over a year into owning the house. And it's appreciated over time it's gone up in value, we got it off market, all those things. And so they're like, hey, we, we need to get off of this loan because we're going to go and qualify for something else, another property. And so that's when I refinanced it based on the equity that was there. And so there was enough in there with the increase in equity and appreciation that there was 25% down and it turned into a cash out refi for me on top of that. So I made money, I had enough to qualify for it on my own to go on the loan at that point. Plus on top of that, which we're going to get into, like if they can, I can show that I've made those payments for a year out of my bank account, then it's really easy for them to actually get off the loan at that point. You don't even have to go through the whole refinance process, which is, but anyhow, so cool. And like for me it was amazing because they got off the loan, it didn't cost them any money. They were helping me out, I made money, right? And then I also had this cash flowing asset for a long, long time. I just sold it recently, but not about me today, but I can relate with what you're talking about. So you went, you approached Bridger and you're like, hey dude, let's go find you a house when you have saved up. Like, what did it go?
- [08:14]
A
I don't even remember. You have to ask him the same question. I mean, I think Bridger's pretty hungry. I, from what I can remember, it was Bridger being the hungry one and he was just throwing stuff at me. And this specific house, I remember he shot it to me and I was kind of like, nah, that's not the one. The agent did a terrible job listing it. She's a sweetheart, but not, not good marketing her house and it was hers, so it was hers. And she had remarried anyway, it was a duplex. It'd been on the market like 150 days or something like that. It'd been on the market a long time. Been overlooked. We offered less. We asked for 3%. Like, in seller concessions. There was like, I mean, I'm. I'm overshooting, but like 70 things that were wrong that needed to be fixed. They fixed all of them for the most part. Like, there was a few things that maybe they weren't fixed the best, but, like, they fixed a ton. And anyway, we were able to just. Just work out a sweet deal from taking our shot, you know, and it.
- [09:14]
B
Was like, hurting this price.
- [09:16]
A
Oh, it was. It was in the 400s. I want to say 440 something. 450. 440 something.
- [09:23]
B
Okay. And so you put three and a half percent down, essentially, or do you put. Was it 5% down payment and you came in with your.
- [09:31]
A
Your 3% commission? It would have been 3%. Yeah, that's what I remember. Cool. And then, you know, we got like, here's. Here's the. Here's the backup thing, though, too. Like, I have to say this. Like, we looked at so many other properties before, and what we learned, and this is key, is that because we knew our numbers, we knew how. What the purchase price needed to be with the current interest rate to make it work. We knew that it had to have X amount of bedrooms, and we had to rent them out at X amount of dollars for it to. To work. So when this came up, it was only listed at like a. Like a four or five bedroom. And then there was another bedroom that they weren't saying it was a bedroom because it didn't have a window, but it's totally the size of a bedroom and it had egress, so that was a plus. And then we had this other space, like I said. We just framed out this other room that we can rent out for 600 all day long, easy.
- [10:19]
B
Yeah.
- [10:20]
A
So those two extra rooms that we didn't see, we're like, dude, this is. This is awesome. Like, we have to. We have to shoot on this. And then it was an old grandfathered in, like, duplex in the middle of town, two meters for, you know, a meter up, a meter down. Just like so rad overlooked because the market.
- [10:38]
B
Was it. Was it advertised as. I know it wasn't. What.
- [10:41]
A
It wasn't as a duplicate meters?
- [10:43]
B
It wasn't advertised as a duplex?
- [10:44]
A
No, it didn't even.
- [10:45]
B
There were two kitchens.
- [10:47]
A
Two kitchens. There's one laundry. Dude, this is even more Perfect, though. Like, the. The stairs that go down, they all kind of. The. The stairs that go up and down, they meet at the laundry room. Okay, so there is one laundry room, but there's two kitchens. There's two everything else. And whether the laundry room worked, it was like, we didn't have to add another one. It just worked out perfect. So we would have never known that had we just not. Bridger was the one that forced me. Like, I. I basically told him, like, nah, nah, I don't think that one's gonna work. And then when we actually walked through it, we're like, dude, this is kind of ghetto. But if we can get them to fix it and give us this, that, and the other, this could just crush.
- [11:22]
B
Yeah. Yeah. I love that, dude. I love that. And I think that just that point that you talked about, like, I know, I know you, like, called the agent out and said they were terrible the way they listed it and marketed, which is like, it's true. And that happens all the time. And so it's not that you're going to go and fix all of this and there's all these real estate agents that are listening and now are going to go and prove their listing. It's more to the point of, hey, you guys that are listening understand that stuff is being marketed that way and misrepresented, good or bad. Right? Like, it could hurt you in ways and also could help you in ways, but you'd. Same thing. I've gotten so many properties from crappy listings. Like, any time I see one picture and it's a horrible picture, I always want to dive in and no more like, I always do. And a lot of people are like, oh, that's a crappy house. Or like, oh, I'm not going to. There's no interior pictures sometimes. Or there's only interior pictures. Right. Like, I want to know more. Like, to me, that's like, piquing my interest. Whereas I think to the average person, it turns them off. Like, yeah, why would I want to be interested in this? It's a grainy photo or it's not covered by this. And so the other thing too, I think is you're not going to see all that in the description or in the, like, the listing itself. Right. It's not going to maybe say duplex or A and B and some. You're not going to see it in the pictures. But guess what? Like, I love scanning those descriptions and seeing things like, you know, second kitchen or. Because a lot of people aren't going through that, and they're not going through that process of doing their due diligence to figure it out like you guys did, that there's all this hidden value.
- [12:52]
A
Yeah, yeah, for sure. I think that you have to be open to the possibility that it could work. And you also just need to go with that mindset into the. Into the house. Looking into that way and just seeing it as data. That's what I'm getting at. It's just data to help you get. If that's not the one, you gather more data to help find your search up here of what you can shoot on and what makes sense.
- [13:17]
B
So good, dude. Yeah, yeah, so good. I think, like, the point that you brought up, which I think, you know, talks about how you force the deal and how you guys got creative on it and made it happen that I want to make sure people don't overlook, is you said we knew our numbers, right? Like, we knew going into it. So when you have that mathematical equation where you already know, okay, like, like A plus B equals C, like, if you're solving for one of those variables, you already know what C needs to equal. Right. You already know what the outcome needs to be. You know, hey, I need to get X return to make it worth it. So now, like you said, you're uploading all the data that you're getting as you're gathering it and learning and you're figuring out, like, cool, is this going to apply to this mathematical equation? It's going to equal this end result. And because you knew what that equation was and what went into that, right off the bat, you're able to then look at lots of properties and just say, hey, does this fit?
- [14:10]
A
Does this fit?
- [14:10]
B
Does this fit versus, like, closing your eyes and throwing a dart at the dartboard? Yeah, yeah, yeah.
- [14:17]
A
It's true. And I think, here's the other thing I'm going to say is, you know, when. When you gather all of that and it's all kind of. It's happening at the same time. You're juggling, juggling all these tools at the same time. One of the other tools that I'll give people is you just got to attract it. Like, you. You can't let go of the thought. I see way too many people that I, because I coach with you at real estate investing school. Your school.
- [14:38]
B
Yeah. You crush it.
- [14:39]
A
Students. Thank you. And a lot of my students, it's just like the biggest problem that I see across the board, they're all struggling with the same type of stuff. No matter what their. Their bank account looks like or their life situation. They. They all kind of have a lot of the same problems, and a lot of them stem from what goes on up here. So they want to get into real estate, so they're committing X amount of dollars per month to be part of the school and pay for coaching. What's so fascinating to me is that they'll get excited about something, and instead of just looking at as data, as feedback that's going to help them, they get discouraged. Mm. It's like, what the hell are we doing? Yeah, this is. This, like, your training starts the process. This. This is your training.
- [15:21]
B
Part of the process.
- [15:23]
A
Yeah, this is your training right now. The fact that you didn't get the property is probably right. The people that you see with, like, even if there's just one person you're looking at, like, they got a property and I did. Well, guess what? They had to go through their training, too. And the person that you admire that has 50 homes. I admire them too. I don't have 50.
- [15:41]
B
Yeah.
- [15:41]
A
But I look to that and I go, that's just more hours, more training, more data, more. More creation up here. They created it. They committed to it, and they didn't let go of that thought.
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B
Yeah.
- [15:53]
A
They didn't have some hurdle come up and they're like, oh, screw it. Yeah, I'm not committed anymore because it didn't just work out like that guy. Well, how do you know you're telling yourself a story that it just worked out for that guy.
- [16:03]
B
Yeah.
- [16:03]
A
You don't know.
- [16:04]
B
Yeah, dude.
- [16:05]
A
Somebody's committed. They can make it happen. And just don't give up on the thought because just data, it's not good or bad.
- [16:11]
B
It's just data. Yeah, it's interesting. I mean, we talk a lot about skill set and mindset. Right? And skill sets, just another word for strategy. And it's. It's so interesting that any time anybody accomplishes something great or amazing, what do we instantly go to? What do we instantly ask them about?
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A
How'd you do it?
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B
Like, what was the strategy? Right. Like, what skill? Like, we want to know what they did.
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A
Like, X, Y, Z equals this.
- [16:38]
B
If. If you're all of a sudden getting jacked, Eric, I'm like, dude, what are you taking? Yeah, what. What is your. What are your workouts look like? Like, what program are you following?
- [16:47]
A
Like.
- [16:48]
B
Like, I don't ask you. Hey, what mindset do you have? How did you get over, you know, waking up early and when you didn't feel like working out on those days? You didn't feel like getting in the cold plunge that day. How did you get over that? What was that mindset that it took? What are you listening to? To get you there? Like, are you writing down your goals? Like, it's just so funny. We don't ever dive into that when reality is. That's what gets you most of the results.
- [17:11]
A
The flip side of that, too, that's so. Been so interesting to me this year, because my word of the year is unlearn. You know, this.
- [17:17]
B
Yeah.
- [17:17]
A
Is. It's so funny. Like, there's some things you just can't explain, and then. And then you. You listen to somebody's feedback at their blueprint. Now, I'm not discrediting the fact that there are truths to things. There is a system and a process to some things to be able to get what you want.
- [17:31]
B
Yeah.
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A
What's funny is there's actually infinite amount of possibilities. We live in a world where there's infinite possibilities. It doesn't have to happen like it did for Brody, like it did for me, like it did for so and so. It doesn't have to. So it's so funny that we. We latch onto these things in our mind that, like, well, that's how they did it. So I have to do it this way. It's the only way that's going to work.
- [17:52]
B
Yeah.
- [17:53]
A
And it's like, no, it doesn't have to be. Like, there's plenty of other data out there of, like, millions of other people have done it a different way. Right. So all of these, like, principles that we're talking about, just like, that's what really matters to me, is that you just don't give up. If you just don't give up, you'll find a way. You're a creator. You know how to create it.
- [18:11]
B
Yeah.
- [18:12]
A
The. The thing you get in your own way.
- [18:14]
B
Yeah, yeah, yeah. And you. You learn that process and what. What it takes, and then the challenges you face are going to change. Like, that'll change. That's unpredictable. It's going to come up again and again. It gets. Going to be different. You never know. Like, there's different deals, there's different things. But if you learn the process and you follow the process, it's going to work for every single situation. And it's just understanding that. I think that, you know, a lot of people come in and don't realize that piece, which is a big problem when you're like, hey, no, this. This isn't like, something that's out of the ordinary. This is the process. And that's, that's what's so cool too about I think learning all of this, this is why we do these ruled real deal episodes is because everybody is different. That means like, I kind of have this, I don't know, I kind of have this like issue with people that say this is the way to invest in real estate. Use this strategy. This is the strategy that works. You have to do this. Like if you're not doing this, you're crazy and there's gonna fail. There's all this hype around, you know, different things and it's just in one niche. And the reality is like, maybe, maybe for someone in their situation it might be, but that doesn't mean that for you and your situation it's going to be different. So every person in every situation that's different, they're going to have strengths and they're going to have weaknesses. Things are going to come more natural, aren't going to come as natural. And it's so powerful. And that's why obviously I believe in like one on one coaching because it's a personalized approach as opposed to this, like, follow this way. This is the only way. Instead, hey, let me actually get to know you. Get to know all of this about you, where you're at in your situation. You know, where you have enough money to be able to qualify or you have enough history to be able to qualify for a loan. I want to get to know Bridger in his situation where he doesn't have that.
- [20:07]
A
Right.
- [20:08]
B
So one thing's a strength for you. One thing. The weakness for him on the flip side, right, he's in a spot where he can actually go live and owner occupy this house. You're not in that spot. So that's a strength for him. That's a weakness for you. There's no way to like know that unless you're extracting that. And that's going to be like, imagine trying to stuff you and Bridger into the same exact deal. Like, it's not going to work. You guys are two different people with different scenarios now.
- [20:35]
A
And I'd argue that you start creating it before the house even comes.
- [20:39]
B
Yeah.
- [20:41]
A
Right. Yeah.
- [20:42]
B
Yeah.
- [20:43]
A
100 I. I like Bridger. Bridger. Our relationship started before we ever started looking at homes. But I guess what's not over, we could say, well, that's why we met. No, that's bull crap. Like all of these things are just, they're ongoing. Like you're training now.
- [20:57]
B
You introduced Bridger to me and now, and now He. He works for me full time. It's amaz. Like, that's actually why you met, so that I could meet Bridger. So.
- [21:06]
A
Yeah, that's what I mean. That's so funny because that's what I'm getting at is like, in our minds we attach meaning to why this, this, and this and this worked. And it's like, it doesn't, it doesn't have to mean that. That's the meaning. You're associating with it.
- [21:17]
B
Yeah.
- [21:17]
A
We have to be so careful about that because a lot of our, A lot of the time our minds are so negative. We think to see things as good or bad. Oh, that's why it didn't work out. And it's like, well, what are you a victim to that thing?
- [21:28]
B
Yeah.
- [21:29]
A
If you want to make it happen. Every single person. Like, think of how many people we know that are just so different personality wise, that are crushing in real estate. Yeah. They're not the same. And are they even in the same realm? No. Because there's so many different forms you got. We could talk about them all day on a basic, but we're not pros at all of them.
- [21:46]
B
Right, right.
- [21:47]
A
Because there's too many. There's so many ways to make money here. Yeah, that's what I'm getting at.
- [21:53]
B
No, it's so good. And I got done jamming with, with Joe on another podcast. And yeah, it was just, it was good because, like, we were just talking about the concept of when you get to that point when you can admit that you don't know everything and you understand that it's okay to not know everything and not be an expert in all of these niches. Like, you can tell how immature somebody is to the game based on if they're trying to fake like they understand everything and they know everything because you just know that that's one, not the case and two actually doesn't serve you in the long run. So wrapping this thing up, dude, this has been good. Like, we've gone a lot of different directions on this thing, but recapping the benefits of this deal before we dive into Bridger stuff next week for you guys to come tune into that recap really quick. What are all the benefits so far from my perspective? I'm going to pause you for, for one second because I had a thought too that I want to make sure and get across that one of my questions when you were talking about the deal the way you did it, there's a reason that I'd only looked at that with like family. Because it was under my oppression. The whole. I'm like how the lenders let you do that if it wasn't someone you're related to. And so just throwing out there, some lenders won't allow that and some will. So you figure out a way where it was totally fine. But that might be something that people listening run into, say, hey, you're not related to this person. You can't actually co sign for them.
- [23:26]
A
So the loan, you shouldn't have any issue. I did have an issue with being an agent, so I paid somebody 500 bucks to be the agent, represent us. Don't tell anybody. Obviously it's all over the Internet now. But make our payment, we'll be fine.
- [23:37]
B
Millions of people just heard this just now.
- [23:39]
A
Yeah, yeah. But the truth is, is there's always a way to skin it. And I didn't get any feedback from the lenders that we're going to have any issue because we're unrelated. That wasn't an issue. The issue was that I was an agent and I couldn't represent myself and have. And co sign for somebody and then. And then get a commission.
- [23:57]
B
Gotcha. Cool.
- [23:58]
A
So I had to get somebody else to come do it for 500 bucks because there's risk there.
- [24:03]
B
Yeah.
- [24:03]
A
And then what we did is then we just open up to everybody so they know how I did it. So then I just took that. And then this. The, the lender and the, my, the title companies, now we're going to see like a referral. That's all through my brokerage. Right. So I found somebody in my brokerage. We met the guidelines that were out there in a gray area.
- [24:20]
B
I will say, yeah, but people can work out, obviously, like, we're not, we're not lawyers, attorneys, experts in that category. So go seek your own advice, legal advice with all that.
- [24:32]
A
But yeah, that's probably a good thing to say. I just don't. I guess what I'm trying to communicate is I'm not a secret. Like I'm an open book.
- [24:39]
B
You figure out a way to get it done. Yeah, yeah.
- [24:41]
A
There's things that go on like this all the time. If you don't believe that they're, they're actually happening, then guess what? They are. And there's ways around it and there's, there's, there's just so many different avenues where you're really not risking anything. There's no police for it. But I don't know, I already feel a little bit weird that there's some like, person out There to be like, oh, this is now automatically a bad idea. Well, that's just a story.
- [25:03]
B
Yeah.
- [25:04]
A
Because look, you can do this without being an agent. You can go pay your money. I just use the commission. That was the biggest issue. So if you're not an agent, guess what? This, this, this model still works.
- [25:13]
B
Yeah.
- [25:13]
A
You should have come up with one and a half percent.
- [25:15]
B
Yeah, yeah. Or, or you find a, you find a good enough deal that you don't, you don't need to put any of your money into it. Right.
- [25:22]
A
Like, I would have, I would have used it as.
- [25:25]
B
Put all of the money down on my first house, like, gladly. Right. So. But my mom kicked back some commission, which was even better. So I, Yeah. Recapping this whole thing, just, just there's so much stuff we've covered, which is so good. But understanding, like for you, all the wins involved. What, what were they just touching on? On those.
- [25:50]
A
No money down.
- [25:52]
B
No money down.
- [25:53]
A
No money down. Great return killer. I mean, how do you calculate that return with no money down?
- [25:58]
B
Infinite.
- [25:59]
A
Yeah.
- [26:01]
B
Yeah. You don't have to manage it. You're not stressed about that. You didn't have to move out of your house to go. To go get the property. Go move in, made a good friendship.
- [26:11]
A
The only con that you talked about is for, you know, a period of time, I'm making Bridger pay all the payments out of his bank account so that we can prove. So debt to income. It hits my debt to income.
- [26:21]
B
Yeah, you can't.
- [26:22]
A
At first I was like, can I scale this sucker? Can I just go, go, go? No, you can't. Unless I made tens of millions of dollars and my debt to income was just through the roof. Or like, not my debt, but my income was through the roof. And then I had low debt, then I could do it multiple times.
- [26:36]
B
Yeah, but. And I wonder too, because it's like you have like, obviously intention of a primary residence, owner occupy it, live there, at least for a year, all that. But you, you guys have leases in place too, you know, and so like, I bet if you, you were. And I know you guys are working on, you know, you getting off of that now. But even like, for Bridger's sake, because we've already talked about it, this is one of his concerns where it's like, yeah, did you, you have leases? You know, like, you don't need. It's not going to affect you. At least 75 of that's not going to affect you because you have those leases in place. You can prove that you're Renting it out, you know?
- [27:12]
A
Yeah. So, yeah, there's a lot of moving parts to this deal, but ultimately, I felt like it was witchcraft. I felt like it was like I just get into that property with no money. Essentially. The seller basically gave me a commission that I never touched. Really? And basically bought me a house. And I was like, cool, thanks.
- [27:30]
B
I love it, dude.
- [27:31]
A
Have 50.
- [27:33]
B
Sweet. So now Jackson's next. You go do it for him over here.
- [27:39]
A
Let's go, Jax. Come on, bro.
- [27:41]
B
Hawaii. Dude, your. Your commission might not have a ohana.
- [27:45]
A
That I can come to with my family.
- [27:46]
B
Okay, done. Dude, he'll find you. See, now he's. Now he's going. Now he's like, you got his brain going. He's listening to the Real Deal episode, and now he's gonna go replicate it. So that's what you guys should do. That are listening. Eric. Where can people find you, reach out to you, connect with you?
- [28:01]
A
Instagram is the best place I have. Tick tock. Instagram, Facebook. But honestly, Instagram is the best place to DM me. So if anybody is interested about the nuances of this deal, there's so much to it. Like, it's hard to really dump it, but everybody gets the gist. I think we did a good job of giving them a good blueprint.
- [28:18]
B
Yeah.
- [28:19]
A
Of how. But then it don't stick. Just to that.
- [28:22]
B
Right.
- [28:22]
A
And if you have any questions, hit me up at egoobler.
- [28:25]
B
E. Goobler. Egoops. Goops. All right, brother. Appreciate it. Much love. I'm stoked to see you here soon. And thanks, guys, for tuning in. We'll catch you next time.
- [28:34]
A
Thanks, guys.