Buy Real Estate Remotely From ANYWHERE With Andres Olaya

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Hey guys, welcome back to the show.

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I'm super excited because I've got a good friend of mine, Andres Olaya.

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He's with Single Family Services and he's actually dialing in or, I guess, connecting in from another country today and he's actually connecting in with us from Medellin, colombia, and so super pumped to have you, my friend.

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I've known you for years and I think you've got a very interesting niche both in real estate and in business, and I want to dive deep into that today because I think, regardless of someone's investing in single family homes, commercial real estate or operating a business, they're going to get a ton from this.

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So, andreas, welcome to the show.

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Thanks for being here, man.

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Hey, how's everyone doing?

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Mario, first of all, thank you so much for having me on as a guest.

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It's a huge honor.

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I know some of the guests that you have and I'm absolutely here to give value.

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Talk about what I do, how I do it, and I agree because in 2024, moving forward everything is virtual.

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Right now it's like a global marketplace and so, especially with COVID, when everybody started working from home, more people became virtual.

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So I'm absolutely excited here to share everything that I have going on and hopefully the viewers can get value.

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Oh, they will.

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Yeah, and not only did you go virtual, you went international virtual, which is cool.

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So let's dive right into this.

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I want to get super deep.

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I'd like to talk about your story in a little bit, but first, what is it like starting a business in an entirely new country that you weren't even raised in?

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You're in Colombia, right, you were born in the United States.

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What is it like to start a business from Colombia doing business in the United States?

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start a business from Columbia doing business in the United States?

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Yeah, absolutely.

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So there's a lot of small little things that, first of all, it's never going to be like back home.

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I think I realized that early on.

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You know, because the technology and the processes and the speed and the culture.

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So the first thing I would tell people is that you have to adapt.

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Like, if you're going to take a journey, whether it's the South America or Europe, you know it's like.

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Don't try and say, hey, why aren't things like how I'm used to them?

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Rather, you have to adapt.

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So that's number one.

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Number two is you know you're going to have people that are going to support you along the way and it's not going to be a massive pool of people to choose from.

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That know the culture back in the US.

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So you're going to be very selective with your team.

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So it's almost going to be more tight knit, more family, and you have to run a tighter ship because, at the end of the day, we're still doing business in the US with US real estate, us properties and we'll get more into that.

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But they have to know some of the culture, right?

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And then the third thing I would say is that you know.

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You also have to be informed about the rules, laws, the regulations you know.

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In any country you're operating in, right, the work week is going to be different here, the laws, the employees, what they're used to, the holidays.

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So those are things you want to navigate and also understand and have people that can explain it to you and break it down, just so.

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Everything is on the up and up also.

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So what came to mind, or basically what made you decide to take your business and start it in another country, versus here in the United States, where you lived?

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Absolutely yeah.

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So first of all, it was a personal choice, right, because I had traveled here on vacation and have some family here and overall I really saw myself living my life over there.

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My lifestyle I can get into a whole bunch of things on why I love it.

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So number one I would say lifestyle.

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I really enjoyed it because we make all these sacrifices, we put in the hard work, the hours, and at times you sacrifice a lot of the personal things, right?

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Maybe you can't go to all the baseball games or the birthday parties or the events or the weddings and whatnot, so I wanted to be in a place where I didn't feel like work.

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You know, it's like I love this place.

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There's nature, I have all my commodities and overall, that was the first thing.

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Number two I would say is from a business perspective.

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You know, the expenses are a lot lower, right.

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It's a lot more affordable, right.

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I guess you would call this a third world country, right, but you know it's got a lot of technology and things like that.

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I mean, my internet is like four or 500, you know, mp, you know whatever you call it, so you know.

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The second thing is, yes, definitely that cost of labor, the cost of living, the cost of you know, payroll and salaries and things like that, and you can build out more people.

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So that was number two.

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Right, you see a lot of companies, cold call companies, or they outsource a lot of things overseas, so I took advantage of that.

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And then number three it's a quick flight back to the US.

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Right, I'm on the same time zone.

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I picked Medellin and Colombia because we're on the same time zone, right, eastern Standard Time.

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A couple of weeks back we were Central Standard Time.

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So it's not a big difference, right.

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So I'm on that same time zone.

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And then there's people that also come back, right, maybe they lived in the US or maybe they got in trouble, or maybe they could never fully get their citizenship and things like that.

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So they also know the culture, they know what it feels like to be over there.

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We can operate, we can call the title companies, we can call the buyers, the sellers, inspectors.

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So it's not like I'm working late at night as if I was in Europe or maybe the Philippines.

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So I would say those are the three key reasons, for sure.

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I love it.

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I actually looked into I think a lot of us entrepreneurs have done this We've kind of went down that road of exploring tax benefits and, you know, cost of living and cost of doing business, and I actually looked into a few different countries that were close to the United States that I could take advantage of for tax purposes and ultimately I decided not to do anything with that, purely because as an American there are some limits to the tax benefits going outside of the country, especially if you're an American you have to pay income tax back to the United States, regardless of where you live, unless you have to pay income tax back to the United States, regardless of where you live, unless you want to renounce your citizenship except for one location.

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And so I think a lot of us have actually explored doing business from outside the United States.

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You just had the guts to do it which I love.

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I mean that takes guts.

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You were born and raised here in the United States.

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You and raised here in the United States, you did business here in the United States and then you moved to Columbia.

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Can you maybe just talk about what kind of challenges you had in making that transition to another country?

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Yeah, absolutely no, it is a big challenge, like you say, right, because at first you've come here on vacation and you know, and it all seems good, right, but then when you leave, I mean first of all it could be lonely, right, that would be the first thing, although now I don't feel lonely, now I feel like, you know, I have all these people around me, my team, you know all the people I go out with, my relationships, all that.

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You know all the people I go out with, my relationships, all that.

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So the first thing I would say at the beginning it's lonely, right, because you're used to, you know, going to places and talking to people and you know your family and your parents and your friends, all those sort of things.

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So the first thing is, you know, what helped me is I got connected right away with some other buddies that were in a similar business, and so I think for anybody that wanted to take that leap, for that challenge is, like you know, make sure that you know some people right away, because if not, it gets lonely.

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And not only that, but they can guide you through the intricacies of hey, here's how you do this stuff here.

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You know back home it's like this, but you do it here.

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So that would be number one.

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Number two is you know, in the US things can get done so fast, right, you know things can get done fast and technology and it's up to date and you know everything's smooth and streamlined.

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Here, again, it's slower, right, it's slower, it's more paperwork, it's more politics.

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You know people may be taken off, you know 4pm people, people are leaving the office.

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So it's kind of like you have a short window to get things done and something that would take you to get done over there in the US you can have a notary come see you, a mobile notary.

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Here you have to go to the notaries and you maybe have to wait in line and some procedures and things like that.

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So the procedures are completely different, right.

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So that's number two.

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And then number three would be the culture.

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Right, I love the culture in the US and I love the culture here.

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You know, I've traveled to a couple.

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I've been blessed enough to be able to travel to different cultures and stuff like that and I can appreciate every culture.

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But you know, those are my two favorite ones.

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So the pros right in the US.

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It's like, you know, it's just like you gave someone your word, I mean it's got to get done.

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Right, and they have that.

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You know, inside the US they have that get it done mentality, whatever it takes, like even anywhere, right, like in a restaurant or in a hotel or a rental car place, like people will find solutions, like their problem solving skills.

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That's why it's one of the greatest countries in the world, right, united States.

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And so here in Columbia, right, you know, a challenge is like people don't have that tenacity, okay, no, you know, we couldn't get it done, I'm sorry.

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Or like, hey, that's not my problem.

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Right, like you can have get it done, I'm sorry.

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Or like, hey, that's not my problem.

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Right, like you can have, you know, the, the valet driver at the hotel, right, and he can help you something with.

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That has nothing to do with this position, because it's just kind of like a team thing here.

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It's like, hey, that's not my problem, we couldn't do it, we're closed, that's just the way things are.

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We can't change the rules.

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So in that regard, it's kind of like a little bit sometimes frustrating because you're used to this culture back home.

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So I would say you know those.

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Those are some challenges, but obviously you know as you adapt, as you progress, you can you know kind of see how to navigate those things and not get frustrated.

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And a lot of meditation.

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Yeah, now you and and guys, if you haven't followed Andreas, you really should check them out on Instagram or any of the other platforms.

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He's actually living a pretty darn good lifestyle down there.

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I mean literally living like a King, and don't get me wrong, he's crushing it in business and making a ton of money.

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But like I just see his lifestyle, I'm like man, do you know what it would take to live at that level in the United States?

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It's just unreal.

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So you know it's pretty cool to see him riding around with a driver and having maids and having like just extravagant lifestyle.

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You know, down there so he's literally like a king.

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I love it, you know.

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Can you maybe talk a little bit about recruiting?

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You know we in the United States a lot of times recruit outside to other countries, including the Philippines and some places in the Middle East and obviously in South America and things like that.

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But you went to the next level and you moved there and then you recruited locally.

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I mean, how can we do that?

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Maybe remotely, so that we're not physically going there, but maybe some things that you've learned in your local culture and as a local strategy to recruit.

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Yeah, absolutely yeah.

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Recruitment, I think, is something that all businesses share as a commonality, because for most businesses, we all need talent, right?

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Unless you're like just a one, you know one man band.

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But if anything real estate, you know roofers, health insurance, you know those loans, hard money loans, erc, all these people you know we need human capital, right.

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So I think this is a key topic.

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So I think this is a key topic.

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So my first thing would say, the quality that I look for is a little, it's higher, I would say, because I don't want the biggest, most massive team, but I want everybody to be on the same page and be a part of the culture.

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So I look for folks that have spent some time in the US, depending on the position that I'm looking for, obviously, have spent some time in the US, right, depending on the position that I'm looking for, obviously.

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But you know and I can trickle down but I'm looking for someone that may have lived there or had some experience there and then just decided to move back.

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One thing I like to find out is you know, okay, well, you lived over in the US some time.

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Why'd you come back?

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You know, why are you here Like?

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You know why, why wouldn't you have stayed over there?

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So I like to find out the reason and I like to find out the people I'm more geared toward.

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You know, bringing on to my team would be folks that want to stay here.

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You know they have some sort of connection, not some bond.

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You know a bond here, a bond here to be wanting to stay here because then I can count on them long term.

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You can find a lot of people and you might find some expats and things like that, but they're probably not going to stick around for that much longer because they can just go from country to country and other opportunities.

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So I want to find the folks that are living here and that love to live here and have a connection.

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Now, as far as recruiting, as far as being able to find people, it goes back to, I would say, social media.

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I would say social media.

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Facebook's a big one for us.

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So a nice trick or not a nice trick, but a nice process that you could do would be to load ads on Facebook.

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There's paid ads and then there's groups, so you can attack both.

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Right, you can do the groups where there's going to be people who are speaking English and those groups geared around towards native English speakers that are looking for jobs and things like them.

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And then the other set you can do is Facebook ads right, you can run Facebook ads, you can run your ad.

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And what the other set you can do is Facebook ads right, you can run Facebook ads, you can run your ad.

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And what I like to do, what I found most effective, is hearing how they speak for us, hearing how they communicate.

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So, because you're going to have a lot of people apply and you're going to be offering, let's say, a good salary, you're going to have a lot of people apply, but to be able to sift through some of them, you want them to send you a voice note, right, if?

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for those of you who use WhatsApp.

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You know.

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That's key, so that way you see how they sound.

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Give them, you know, give them some questions to answer right, 10 questions Where'd you live?

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Where'd you grow up?

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You know, how do you know English?

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What was your last job?

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Tell me about yourself.

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What do you like to do?

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For fun?

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You know things like that.

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And then that way, the best ones go up to the top.

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Because if now you're going to spend a lot of time people applying, applying and you calling them or emailing them, the best way to go about it is just hear how they sound, first hear how they communicate and then move from there.

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Love, that.

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So, Andreas, you just gave me some really good ideas, Believe it or not.

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I was looking for an employee and I decided.

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A good friend of mine told me that he was recruiting in Mexico, and for the same reasons that you were talking about time zone, they're very familiar with the culture in the United States.

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Versus India or anywhere in the Middle East or in the Philippines, they're not quite as familiar with American culture as South American and Central Americans, and so I did post there and ended up hiring somebody in a different region ultimately.

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But what you just said makes a ton of sense.

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They have Facebook.

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You could create a Facebook group or join a Facebook group in that country.

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They're all speaking English.

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Post it there.

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And now you've got a lot of other people in that country.

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They're all speaking English.

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Post it there.

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And now you've got a lot of other people in that country applying directly versus going through an Upwork or going through a Fiverr or something like that, where you're going to be competing against other people.

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So let me ask you this what's the exchange rate between Colombia and the United States dollar right now?

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So let me check here real time, because it's always fluctuating with the wars and we don't have to get into politics.

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But for right now, for $1, it's 4,000 pesos more or less.

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Kind of rounding down a little bit.

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So that's what it goes for, yeah, and so maybe I can put it in a context for you.

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So let's say my rent, where I live.

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I'm going to tell you how much that is in dollars.

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That's like $940, give or take, right.

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Yeah, I live in a top tier place, although rents have gone up and things like that.

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But I'm in front of a country club and I'm very close to all the best restaurants and I'm close to all the major roads and I'm close to the metro station.

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In a major city, major international city, right.

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Exactly, exactly, and this would be considered an A plus neighborhood.

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Just to put it into context for the folks.

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Yeah, here they go.

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Here they go from one to six.

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So I'm I'm number six in the baller status.

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So with that, what does it cost?

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I mean, obviously you pay all your people differently, but if you're going to hire somebody to do a high skilled position, like an acquisitions role or something like that, if you were to convert that into an hourly, what does that end up converting to?

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I mean, what would you be paying somebody in dollars per hour if you're going to pay somebody hourly?

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Gosh, let me see here, Let me know I'm hitting you with a bunch of technicals.

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So I'm putting you on the spot.

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But no, that's perfect.

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That's perfect.

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That's I'm going to tell you right now, more or less.

00:17:44.588 --> 00:17:52.765
And because you could pay someone a decent salary with, you know, a thousand fifteen hundred to two thousand dollars, right.

00:17:52.765 --> 00:17:56.012
So if they did that, so let's call it.

00:17:56.012 --> 00:18:03.247
You know six $7 an hour, right For an acquisition, really Right.

00:18:03.247 --> 00:18:08.385
Plus plus some, plus some you know, bonuses, you know when they close some deals and things like that.

00:18:08.385 --> 00:18:14.376
So I mean that might be less than half right Then what you would pay someone over there, I mean a lot, you know it just depends.

00:18:14.396 --> 00:18:14.698
Like I'm.

00:18:14.698 --> 00:18:24.097
I'm out of touch over there and someone who speaks English like you and I, who can problem solve, who can talk to things and who can actually close deals right.

00:18:24.097 --> 00:18:26.163
I mean, I've had plenty of people like that.

00:18:26.704 --> 00:18:29.358
Very similar to what you can pay someone in the Philippines.

00:18:29.358 --> 00:18:36.807
I mean, that's almost what you can pay people in the Philippines, which there's a lot of cultural differences and language differences there.

00:18:36.807 --> 00:18:42.184
Versus where you're at, there's people that are much more familiar with the United States.

00:18:43.166 --> 00:18:50.028
Correct, yes, yes, and they're aware of the culture of their mindset and they're very coachable.

00:18:50.028 --> 00:19:01.805
The criteria I look for is someone who's a good person, doesn't have any too bad of a habits Nobody's perfect who's a team player and is coachable.

00:19:01.805 --> 00:19:06.303
And then, obviously, the first thing is that they have good communication skills in English.

00:19:06.303 --> 00:19:13.625
Other than that you know I don't, I don't look for too broad of specific details on them.

00:19:13.987 --> 00:19:17.019
Yeah, you can teach them what you need to teach them in what you're doing.

00:19:17.019 --> 00:19:21.018
So let's talk about a little bit more about what you're doing and what you've built over there.

00:19:21.018 --> 00:19:27.307
I mean, you've built an investment business, but can you maybe talk about what you're exactly doing and how you built it?

00:19:28.088 --> 00:19:29.215
Yeah, absolutely so.

00:19:29.215 --> 00:19:34.265
My team looks like this I have an acquisitions department about three, four people in there.

00:19:34.265 --> 00:19:37.284
I have a transaction coordinator.

00:19:37.284 --> 00:19:42.403
I have a operations manager as well.

00:19:42.403 --> 00:19:45.430
I have a full stack developer.

00:19:45.430 --> 00:19:51.244
I have a full-time videographer, you know, that helps me put out the content and film and things like that.

00:19:51.244 --> 00:19:55.443
Then I have like two admins that help me with other miscellaneous things.

00:19:55.443 --> 00:20:01.537
And then you know, besides that I have like other support, you know from like outside third parties and things like that here in Columbia.

00:20:01.537 --> 00:20:01.655
So that's what my team looks like.

00:20:01.655 --> 00:20:02.434
And then you that I have like other support, you know from like outside third parties and things like that here in Columbia.

00:20:02.434 --> 00:20:04.916
So that's what my team looks like.

00:20:04.916 --> 00:20:07.786
And then you know have the cleaning personnel and the maids and things like that.

00:20:07.786 --> 00:20:10.844
But yeah, that's what my main team looks like.

00:20:11.497 --> 00:20:12.882
And so what are you doing now?

00:20:12.882 --> 00:20:15.415
Specifically like, what's your business, what?

00:20:15.415 --> 00:20:17.262
What are you, what does this team do?

00:20:17.954 --> 00:20:19.080
Yeah, exactly so my team.

00:20:19.080 --> 00:20:27.817
So we branch different marketing campaigns, you know, mainly across Texas and Florida, and we work, you know, with all sorts of properties, but mainly it's single family homes.

00:20:27.817 --> 00:20:31.912
And so my acquisition team will take the leads.

00:20:31.912 --> 00:20:43.788
I have my marketing people as well, you know, help me run the marketing and then have my administrative people that'll help me sort through those leads, right, who's qualified, things like that and they'll get on the phones and, you know, start negotiating, right.

00:20:43.788 --> 00:20:59.682
I mean, we've been negotiating million dollar homes in California to you know lots, you know $50,000, lots, right, and all in between the $200,000 homes in Dallas is, or the 400,000 ones in, you know, bradenton, closer to you, sarasota.

00:20:59.682 --> 00:21:05.077
So we're doing campaigns everywhere, bradenton, closer to you, sarasota, so we're doing campaigns everywhere.

00:21:05.077 --> 00:21:10.498
Once we get a contract, we have our coordinator operations manager as well, just make sure everything goes smooth from start to finish.

00:21:10.498 --> 00:21:12.541
So we really depend on the phones.

00:21:12.541 --> 00:21:16.316
Being strong on the phone is critical for us because we never see any of these folks.

00:21:16.316 --> 00:21:18.479
We never see any of the title companies.

00:21:18.479 --> 00:21:32.271
So when we get the contract, we'll take photos, send inspectors, do showings, talk to realtors, field offers, work with the title companies to clear up any liens.

00:21:32.271 --> 00:21:51.467
We may also contract contractors to maybe hey look, we got to close out this open permit or we have to fix this foundation, so we'll spend some money, you know, virtually, and on top of that we have guys locally that can help us go, you know, take contracts, meet with people, shake people's hands and things like that.

00:21:51.467 --> 00:21:53.961
So that's what the team does, you know, and it's beautiful.

00:21:54.021 --> 00:21:55.655
I feel blessed, you know, be able to do it.

00:21:56.116 --> 00:22:01.246
It does take, you know, strong leadership and making sure everybody's trained and everybody's on board.

00:22:01.246 --> 00:22:09.462
So I really like to go over with my team in the beginning of the day, you know, 9 am to go over our core values, right, what are we doing this year for?

00:22:09.462 --> 00:22:10.566
What are our core values?

00:22:10.566 --> 00:22:18.721
What are we standing here for, you know, and I could just read off some of our core values, but one of them is to commitment and improvement to our communities, right.

00:22:18.721 --> 00:22:25.061
So I really like to sell them on a mission like, hey, this is why we're doing this, this is why we're all here, right.

00:22:25.061 --> 00:22:35.596
Another one would be camaraderie, right, you know, we can go by far a lot, you know, cover more distance if we go at this together, you know.

00:22:35.596 --> 00:22:37.602
And another one just to share.

00:22:37.602 --> 00:22:44.840
One more is communication is our lifeblood, right, and it says the single biggest problem in communication is delusion, and has taken place.

00:22:44.840 --> 00:22:54.188
So I want them to be really aware and be extremely professional when it comes to their communication skills, because that's our lifeblood.

00:22:55.958 --> 00:22:56.179
Love it.

00:22:56.179 --> 00:23:03.356
So you're basically tying up the homes and then you're selling those homes without actually taking ownership in most cases, right.

00:23:03.356 --> 00:23:05.721
So you're doing either wholesaling or novations.

00:23:05.721 --> 00:23:13.508
You're basically selling the contract to an end buyer and I know that your niche is a little bit different than a lot of others.

00:23:13.508 --> 00:23:17.367
You actually sell yours on market versus off market.

00:23:17.367 --> 00:23:22.260
So you're not just selling to investors, you're selling to retail buyers as well in the open market.

00:23:22.260 --> 00:23:29.299
Can you maybe talk about how that differs from wholesaling and maybe explain the difference between wholesaling and Novation's?

00:23:30.102 --> 00:23:34.256
Okay, perfect, yeah, so I'll start first with our model.

00:23:34.256 --> 00:23:41.785
Okay, so, yes, it's Novation's and I like it a lot better than the traditional wholesale, right?

00:23:41.785 --> 00:23:47.251
So how it's different is we'll launch our campaigns, right.

00:23:47.251 --> 00:23:51.726
We'll talk to the homeowners, right, the sellers.

00:23:51.726 --> 00:23:57.926
We have different options, right, if they want to go the wholesale route, it's going to be a lot more discounted.

00:23:57.926 --> 00:24:10.509
But what we found is most folks aren't going to discount it more than like 20% off ARV or 25% off the actual retail value, and those numbers would work for us.

00:24:10.509 --> 00:24:19.038
So let's say, we get something at 75%, might not be enough margin for an investor to be able to go and buy it at 75% ARV.

00:24:19.038 --> 00:24:20.864
And then how do we fit our fee in there, right?

00:24:20.864 --> 00:24:22.106
So it's very marginal.

00:24:22.106 --> 00:24:26.557
So what we'll do is we'll tell them look, we have another program, we have another way where we can get you that money.

00:24:26.557 --> 00:24:35.079
And what we would do is we would put it on the market, right, and show it to potential families, to potential homeowners, and from that point we'll get a contract with them.

00:24:35.079 --> 00:24:37.883
Let's say we agree on a price of 300,000, for example.

00:24:37.883 --> 00:24:40.744
So I'm perfect, we're going to get you your 300,000.

00:24:40.744 --> 00:24:42.446
If we have to do any clean outs.

00:24:42.446 --> 00:24:46.790
If we have to do maybe close out an open permit or help you move.

00:24:46.790 --> 00:24:51.262
So you have to find a way to add value to them because it's still a sizable discount.

00:24:51.262 --> 00:24:59.885
And let's say, the home as is, you can probably sell it for 370, 370 or 360, and the ARV call it 400.

00:24:59.885 --> 00:25:01.689
So there's still a little bit of room.

00:25:01.689 --> 00:25:04.800
It might not be in the best condition but it'll pass the traditional finances.

00:25:04.800 --> 00:25:09.198
So they're like okay, you handle all this, I'll take the 300, right?

00:25:09.198 --> 00:25:24.501
So from there we'll take it on and put it on the market with our brokers, with our broker partners, and from there the homeowner is aware, right, you always want to make sure that they're aware, they disclose, you know, because you're going to be able to get families in there.

00:25:24.934 --> 00:25:26.500
But let's say we go through that process.

00:25:26.500 --> 00:25:34.425
They're fine, broker's on board, it's listed, we have the professional photographer, we have everything on the MLS, everything right.

00:25:34.425 --> 00:25:46.516
That's the main difference right From right.

00:25:46.516 --> 00:25:49.625
There is because if you wholesale it, typically you're selling it off market, right, typically you're selling it off market to an investor.

00:25:49.625 --> 00:25:58.878
But the route that we take is we want to sell it to an end buyer to be able to maximize what we can sell it for and to be able to actually maximize to what we can buy it for too right or contract it for, because, again, there's not going to be so many opportunities to buy stuff at 50.

00:25:58.878 --> 00:26:10.358
We'd all love to buy 50 cents on the dollar, but those do come up right In every market you find deals like that.

00:26:10.358 --> 00:26:13.566
So we take it on the market and then from there, let's say, someone's interested in making an offer?

00:26:13.566 --> 00:26:17.057
Right, so we have it listed for 370.

00:26:17.117 --> 00:26:19.903
Let's say we get an offer for 370, right, 370.

00:26:19.903 --> 00:26:26.826
At that point what we'll tell the homeowner is like okay, perfect, we've gone ahead and we found a family that we want to work with.

00:26:26.826 --> 00:26:34.368
And at that point, right, if you look at the word, novation is just to replace right To take.

00:26:34.368 --> 00:26:44.769
So we'll replace our original A to B agreement with the seller and we'll have the seller sign a, b to C with the buyer.

00:26:44.769 --> 00:26:51.986
So the seller's the B, we novate, we change out our agreement for that.

00:26:51.986 --> 00:26:54.630
370, call it, we spend.

00:26:54.630 --> 00:26:56.499
I'm just going to do a quick math here.

00:26:56.499 --> 00:27:03.486
Call it that, off that 370 price, I'm just going to use about four and a half percent to cover all fees and things like that.

00:27:03.486 --> 00:27:13.301
So 370, I'm going to round up minus $17,000, minus the 300 that we had it for, so we'll be able to make that spread of $53,000.

00:27:13.824 --> 00:27:14.045
Nice.

00:27:14.815 --> 00:27:16.257
So that's how it works.

00:27:16.257 --> 00:27:19.801
The title companies love them because it's a lot easier.

00:27:19.801 --> 00:27:27.721
The lenders are fine with them because the seller on records and contract with the buyer, they can get it financed.

00:27:27.721 --> 00:27:33.040
The fee is being paid out from the seller's proceeds, so the lender's fine with it as well.

00:27:33.040 --> 00:27:35.604
They don't have to finance any wholesale fees or anything like that.

00:27:35.604 --> 00:27:36.861
They won't do that either way.

00:27:38.394 --> 00:27:44.357
And then from there we have a happy seller right Because we got them their 300 net right.

00:27:44.357 --> 00:27:46.500
We made 53 in the process.

00:27:46.500 --> 00:27:50.884
The buyer is happy because they're getting a new home and it checks out and it's where they want to live.

00:27:50.884 --> 00:27:53.387
The seller is happy because they didn't have to deal with any of that.

00:27:53.387 --> 00:27:56.852
Maybe they were owner occupying it but they didn't have to deal with anything.

00:27:56.852 --> 00:28:08.304
Or maybe they were out of state Okay, we handled it the lockbox or maybe we helped them, paid off a tenant to leave and clean the place up.

00:28:08.304 --> 00:28:12.141
Or also maybe they're fine with that because maybe we did some minor improvements to the property.

00:28:12.141 --> 00:28:18.278
So at the end, if we don't perform well, actually not if we don't perform, but they see we're invested in it also.

00:28:18.278 --> 00:28:37.501
So they're fine with doing this sort of partnership, the way it differs from a traditional wholesale is for most wholesalers, to be quite frank, they don't even tell the seller that they're not the end buyer.

00:28:37.521 --> 00:28:38.285
Some do, some don't, and it's whatever.

00:28:38.285 --> 00:28:39.771
But most of the time you're telling, hey, yeah, we're the end buyer.

00:28:39.771 --> 00:28:41.436
Then you have to sell it off market.

00:28:41.436 --> 00:28:42.298
Now you have to sell it off market.

00:28:42.298 --> 00:28:44.580
Now you have to blast it out to investors.

00:28:45.021 --> 00:28:50.730
Investors are going to have to have some margin because again, they have to make money.

00:28:50.730 --> 00:28:56.560
Everybody's got to make money in the way versus these other folks that are buying it.

00:28:56.560 --> 00:28:58.326
They don't care about the equity and things like that.

00:28:58.326 --> 00:29:07.470
For the most part they're just happy with finding a home for their family, for the kids close to the nice school, versus the investors just number driven.

00:29:07.470 --> 00:29:13.699
And so another thing is different that it goes on the MLS, which in my opinion is the best way to sell any property.

00:29:13.699 --> 00:29:26.144
So the maximum amount of people seeing it rather for wholesale it's typically off market, off the MLS, although some wholesalers do put it on the MLS and we've sold on the MLS cash as well.

00:29:26.144 --> 00:29:35.099
Right, it doesn't always have to be financed and sometimes on the MLS, even though it's on the MLS, you might find an investor and that's your only buyer.

00:29:35.099 --> 00:29:37.567
But those investors typically pay more as well.

00:29:39.734 --> 00:29:43.204
So how do I do this with mobile home parks and commercial real estate?

00:29:43.204 --> 00:29:52.904
That's what you've got me thinking is like okay, clearly it's doable in the single family world, it's happening and it's happening all around the country in the United States.

00:29:52.904 --> 00:29:57.342
So how do I do novations with commercial real estate?

00:29:57.342 --> 00:29:58.022
Is that possible?

00:29:58.884 --> 00:30:00.167
I would say it's definitely possible.

00:30:00.167 --> 00:30:01.419
Yeah, absolutely it's possible.

00:30:01.419 --> 00:30:02.521
It's just coming to.

00:30:02.521 --> 00:30:03.484
First.

00:30:03.484 --> 00:30:08.398
I would say you want to be transparent with the seller and tell them what your game plan is.

00:30:08.398 --> 00:30:12.067
Right, you can tell them look, this is my team and I.

00:30:12.067 --> 00:30:26.346
We buy mobile home parks, we operate mobile home parks, we've sold mobile home parks, we broker mobile home parks right All of the above so yeah, you're a professional, you have ancillary services for mobile home parks and all those sorts of things, right?

00:30:26.954 --> 00:30:35.820
And you tell them look, we have different models on how to actually get you the money right or close out the purchase, right?

00:30:35.820 --> 00:30:43.056
So the first is, you know you could tell them look, I have cash, I buy with my partners, we hold it, we'll operate it Right.

00:30:43.056 --> 00:30:49.146
What I like to do to for them to be fine with it is sales.

00:30:49.146 --> 00:30:54.084
It all comes down to sales, right, but it's just showing them that, okay, they have a price.

00:30:54.084 --> 00:31:03.848
Let's say the mobile home park is worth a million dollars, just to make numbers easy, right, and they want 850, they want 850 or 800.

00:31:03.848 --> 00:31:04.856
Again, there's not a lot of room.

00:31:04.856 --> 00:31:12.446
They're giving you 20% off, which is, you appreciate it, this might not be something that you want to keep and hold, and things like that.

00:31:12.446 --> 00:31:22.423
Say you have about 50, I don't know what the closing cost could be, maybe 50, 60, 70,000, somewhere around there, just round numbers.

00:31:22.423 --> 00:31:24.816
So you have a little bit of room.

00:31:24.816 --> 00:31:34.045
If you put that on the market and it's worth actual million dollars like you came into a good deal and it's worth a million dollars, someone's willing to pay you that.

00:31:34.045 --> 00:31:41.477
You tell them look, there's a way I can get you that 800,000, because if I was buying it for me, you were negotiating back and forth.

00:31:41.477 --> 00:31:47.388
Maybe you wanted it to be at 650 or 700, right, in this case we'll take 800.

00:31:47.388 --> 00:31:49.219
Maybe you want it at 700,000.

00:31:49.219 --> 00:31:50.762
It's like, look, there's a way I can get you more money.

00:31:51.746 --> 00:32:06.083
And that would be that we work with other group of investors right, and you would take care of the phase one, the surveys, the realtors, the listing, all these sorts of things and then you put it on the market right.

00:32:06.083 --> 00:32:09.578
And obviously then you would look at your contract and how you have it structured and things like that.

00:32:09.578 --> 00:32:11.684
But that's the conversation we'd have with them.

00:32:11.684 --> 00:32:19.337
Ideally, inside your contract it says that, look, in the event that you want to buy yourself or close on it, right, maybe you found something interesting.

00:32:19.358 --> 00:32:53.527
You looked a little bit deeper into it, you decided you wanted to buy it right, or that you can novate it and then find a third party buyer, which basically it is that you would cover any and all expenses that would come out of dealing with a third party, that you would be assisting in it and that you're ultimately doing a service for the seller, and if they're fine with that, you put it on the market and you find buyers to work with and then, in case you do come up with one, you take your contract and then you look at it.

00:32:53.527 --> 00:32:54.449
Okay, you have the language.

00:32:54.449 --> 00:33:01.119
Then you prepare another contract from B to C with that buyer and then you would collect your fee.

00:33:01.119 --> 00:33:02.083
That's how I would see it.

00:33:02.694 --> 00:33:04.501
Dude, I think you just made me a ton of money.

00:33:06.556 --> 00:33:07.621
I'd love to hear that.

00:33:08.096 --> 00:33:10.363
Because we have a brokerage right.

00:33:10.363 --> 00:33:12.530
So we broker mobile home parks.

00:33:12.530 --> 00:33:18.404
We also have an investment business, which is our main business, where we buy the mobile home parks and hold them.

00:33:18.404 --> 00:33:21.364
But there's some gray area in there.

00:33:21.364 --> 00:33:27.723
I should say that there's some properties that kind of fall between the brokerage and the investment company.

00:33:27.723 --> 00:33:35.065
They're a discount, but not quite enough of a discount for an investor buy.

00:33:35.506 --> 00:33:52.226
Obviously, everything that we're selling is to investors, but I guess you could say there's not a big enough discount for us to make a large enough spread to tie it up and jump through those headaches of doing full due diligence and then finding out if we can find a buyer within that short window.

00:33:52.266 --> 00:33:54.115
This kind of kills a lot of that right.

00:33:54.236 --> 00:34:24.380
So we could basically avoid having to broker it as well as avoid having to buy it, still provide a service to a seller and find a good deal for an end buyer as well, and not have to be that middle guy that nobody really understands the structure, except for you, which I think, like you explained a lot of times, wholesalers don't explain to the seller or the buyer the role that they're playing in the deal, which just makes it a more complex deal, especially in commercial real estate playing in the deal, which just makes it a more complex deal, especially in commercial real estate.

00:34:24.400 --> 00:34:37.650
And so basically you just complete all the due diligence, all of the prep work, team up with a broker, take it to market, swap out yourself for the end buyer and basically make the fee in between for it.

00:34:37.650 --> 00:34:46.021
Full disclosure, full exposure as well, so you're not having to just work within your database of buyers that you've built up.

00:34:46.021 --> 00:34:54.987
You can expose it to the public, which means you get the maximum exposure and buyers to compete against each other to pay the highest price for it.

00:34:54.987 --> 00:34:57.581
So I think you just made me a ton of money, man.

00:34:58.545 --> 00:34:59.789
I love it and you got it down.

00:35:00.742 --> 00:35:02.936
I hope a lot of people are paying attention to this.

00:35:02.936 --> 00:35:11.025
Regardless of the property type that you're investing in, this is something that I think we could all make a lot of money from, and not a lot of people are doing it.

00:35:11.025 --> 00:35:17.115
I mean, I didn't even know what a novation was till probably 12 months ago when Andreas explained it to me.

00:35:17.115 --> 00:35:20.782
But there's because I'm so, I'm, I'm so.

00:35:20.782 --> 00:35:28.985
My background from real estate was especially in the single family world was really when people were doing traditional wholesale.

00:35:28.985 --> 00:35:41.382
So that's my understanding of you know what you can do, and so being able to do these innovations is pretty sweet, and I'm I'm going to have to get with you offline and figure out how how to do this, because there's a lot of money on the table.

00:35:41.422 --> 00:35:49.407
There's a lot of deals that are marginal or not necessarily attractive for me due to geographic location size.

00:35:49.407 --> 00:35:57.079
There's a lot of smaller parks that just doesn't even make sense to broker, but here we could probably make a little bit more money than brokering them too.

00:35:57.079 --> 00:35:58.061
So I love it.

00:35:58.061 --> 00:36:02.739
So let me ask you this Are you getting deals done?

00:36:02.739 --> 00:36:09.134
I mean, I hear a lot of people in the real estate market right now, especially in wholesaling and flipping.

00:36:09.134 --> 00:36:10.659
They're just saying, man, there's no deals.

00:36:10.659 --> 00:36:12.425
There's no deals because the market softened.

00:36:12.425 --> 00:36:14.422
Are you getting deals done?

00:36:15.445 --> 00:36:16.068
Yeah, absolutely.

00:36:16.068 --> 00:36:20.239
I mean, the last year we closed was Friday and we got a couple other scheduled to close this week.

00:36:20.239 --> 00:36:22.563
There's always going to be challenges, you know.

00:36:22.563 --> 00:36:31.688
But just looking at through my stuff right now, I mean we have, I would say, about 17 properties that are in the queue right.

00:36:31.688 --> 00:36:36.545
They're not all assigned, they're not all in escrow, but we're working them right, we're working them.

00:36:36.545 --> 00:36:40.905
Some of them are in the just looking at my spreadsheet and so it's about them.

00:36:40.905 --> 00:36:44.018
Some of them are pre-marketing, some of them are in escrow, some of them are active.

00:36:44.641 --> 00:36:55.958
So, more or less, it has become more challenging because of the interest rates, because of the uncertainty, because of the wars, because of politics.

00:36:55.958 --> 00:37:03.809
So people, they're like if I sell now, where do I move to right with those low interest rates?

00:37:03.809 --> 00:37:06.684
So, but in every market there's a deal.

00:37:06.684 --> 00:37:08.943
So, yes, we're absolutely still closing deals.

00:37:08.943 --> 00:37:10.280
It has become more challenging.

00:37:10.280 --> 00:37:14.625
So you know we're trying to navigate here, the headwinds, and see what.

00:37:14.625 --> 00:37:23.934
You know election year is coming up, so you know things always change there and you know politics play a big role and the money too.

00:37:23.934 --> 00:37:26.177
The money's got more expensive, just like how it has on the commercial side.

00:37:46.811 --> 00:38:04.052
It's challenging, but to get them to see that they can do it too, cause you're doing it outside of the country, like there's people that live in Texas, that live in Florida that are going oh, I can't find deals, I'm struggling, and you're like in another country doing it at a pretty high volume.

00:38:04.601 --> 00:38:05.324
What do you say to them?

00:38:05.324 --> 00:38:08.509
Well, look, it's interesting because it all comes down.

00:38:08.509 --> 00:38:15.974
I would say for those people, if you can master sales, sales is so wide right.

00:38:15.974 --> 00:38:19.331
But if you can master sales in one niche, right.

00:38:19.331 --> 00:38:23.606
Whether it's real estate, whether it's health insurance, whether it's anything else.

00:38:23.606 --> 00:38:33.452
If you're selling advisory services, brokerage services, I would say, first of all, get amazing at sales, like professional level.

00:38:33.452 --> 00:38:39.132
Hear yourself, record your calls, see how good you do.

00:38:39.132 --> 00:38:43.150
So you want to really analyze yourself, be self-aware of yourself.

00:38:43.150 --> 00:38:45.909
Like, hey, what's keeping me from doing deals?

00:38:45.909 --> 00:38:48.000
So I would say that's number one.

00:38:48.000 --> 00:38:50.389
Number two is marketing.

00:38:50.389 --> 00:38:52.987
It all would come down to marketing.

00:38:52.987 --> 00:38:56.811
Right, If they're not doing deals, it's probably because they're not doing a lot of marketing.

00:38:56.880 --> 00:39:00.688
Because whenever you stop marketing, it's like where are the deals at?

00:39:00.688 --> 00:39:04.929
Yeah, but what's your marketing like?

00:39:04.929 --> 00:39:06.576
Are you sending people to properties?

00:39:06.576 --> 00:39:08.943
How many properties are you going to look at a day?

00:39:08.943 --> 00:39:11.086
Obviously we don't look at any, but how many people are we sending there?

00:39:11.086 --> 00:39:14.193
How many people are you offering a need at their property?

00:39:14.193 --> 00:39:18.704
How many contracts are you writing up?

00:39:18.704 --> 00:39:27.713
Right, Like that person you know those folks who aren't doing deals like did you write up three contracts this week, or five, Write up one a day, you know, write up a contract a day, and then you know it's that, it's that consistency as well.

00:39:37.039 --> 00:39:45.804
And then, ultimately, it's really caring about the folks that you're wanting to negotiate with and buy their property, because if they feel like you actually care, then they'll care about you right, Because nobody cares until they know how much you care.

00:39:46.545 --> 00:39:57.820
And then, lastly, I would say, be interesting as well, Like be someone that they, you know you're hard to forget, yeah.

00:39:57.820 --> 00:40:08.829
Then it comes down it still comes down to sales and storytelling and how you've had these experiences and how you've helped these other people and you've seen this in the market, and how you can get all the work done for cheap.

00:40:08.829 --> 00:40:20.625
And then it built, building that, building that trust, that confidence, and then being very consistent with your actions.

00:40:20.625 --> 00:40:23.275
And then, if I had to put one more point, is be aggressive, because at the end of the day, nobody's coming to save you.

00:40:23.275 --> 00:40:25.802
A deal is not going to land in your lap.

00:40:25.802 --> 00:40:28.710
Maybe from your follow-up and your efforts, people will call you back.

00:40:28.710 --> 00:40:33.748
Hey, I'm ready to sell, but that still took a lot of you know you being aggressive and you being on the offense.

00:40:33.748 --> 00:40:42.791
So always be on the offense and know that whatever's in your control, look at that and put effort into that.

00:40:43.351 --> 00:40:44.132
That is so good.

00:40:44.132 --> 00:40:51.101
You know, there's a lot of people who've gotten educated, they've studied up, they've gotten the information and they go.

00:40:51.101 --> 00:40:52.204
I can't find deals.

00:40:52.204 --> 00:40:53.166
I'm not doing deals.

00:40:53.166 --> 00:40:59.202
And my first question is okay, so what are you doing for marketing and how many offers have you made?

00:40:59.202 --> 00:41:08.791
And if their answer isn't a large number for the number of offers that they made, I know that they're never going to get a deal at that same pace, you know.

00:41:08.791 --> 00:41:12.576
Let me ask you this how do you feel about offering low?

00:41:12.576 --> 00:41:16.387
I mean, a lot of times people are saying prices are just overpriced.

00:41:16.387 --> 00:41:18.211
Sellers want too much for their property.

00:41:20.320 --> 00:41:26.101
I would say what I tell my team is that we don't want to give offers, but we want to know how much they want first.

00:41:26.101 --> 00:41:26.782
You know what I mean.

00:41:26.782 --> 00:41:30.871
I kind of want to understand the we we lay out.

00:41:30.871 --> 00:41:35.063
The conversation is we want to understand their goals, needs and wants.

00:41:35.063 --> 00:41:41.483
And uh, a goal and a want and a need is like, okay, you're giving me a number, like part of this is me understanding.

00:41:41.483 --> 00:41:51.987
You know where you, where you're at, because sometimes you would offer more, you would offer a lot more, and sometimes, sometimes you're like, did I listen to that correctly?

00:41:51.987 --> 00:41:53.570
Like did you want how much for this?

00:41:53.570 --> 00:41:54.711
Right?

00:41:54.711 --> 00:41:59.686
So I would say first that and then, when it comes down to giving an offer, yeah, absolutely.

00:41:59.726 --> 00:42:17.387
I mean, look, you have to be in range with what's going to work with you because, unfortunately, right in the commercial and the residential deals fall out right and usually based on number one price or number two, that they didn't disclose something, like something wasn't disclosed and it just changes the deal.

00:42:17.387 --> 00:42:24.833
And then number three, obviously people get cold feet or I don't want to sell anymore, I'm not selling, I got a better offer.

00:42:24.833 --> 00:42:32.945
So if you do your hard work upfront, which is like building that trust, that connection, deals are going to fall out less.

00:42:32.945 --> 00:42:36.646
Once you have that trust and that connection, people are going to disclose to you hey, it needs a new roof.

00:42:36.646 --> 00:42:40.630
Well, you don't want to wait until you put on the market to know it needs a new roof.

00:42:40.630 --> 00:42:47.027
And then if you overpaid for it, well, I mean sure you can go back and renegotiate and things like that.

00:42:47.027 --> 00:42:48.630
But you know you don't want to bank on that.

00:42:48.630 --> 00:42:49.731
That can happen.

00:42:49.731 --> 00:42:52.155
We've had to have to go back and do that.

00:42:52.155 --> 00:42:56.521
But that's what you really want to look at.

00:42:56.541 --> 00:43:06.315
So if that means giving a low offer, I mean the way I see it, if a house is worth $400,000, just to say $400,000, I offer them $200,000.

00:43:06.315 --> 00:43:07.376
They're like that's a low offer.

00:43:07.376 --> 00:43:08.782
I'm like $200,000?

00:43:08.782 --> 00:43:13.751
Most people won't make that in one year, two years, three years right, that's $200,000.

00:43:13.751 --> 00:43:25.315
So I mean you can find ways around that, but at the end of the day you have to work with numbers that work, because if not, anybody can give any offer.

00:43:25.315 --> 00:43:28.148
But if it doesn't work and I tell them look, someone offered me more.

00:43:28.148 --> 00:43:29.601
I'm like an offer is just an offer.

00:43:29.601 --> 00:43:31.344
What you want to do is actually close the property.

00:43:31.344 --> 00:43:36.534
Someone call you right now offer you $500,000, right, but will they actually close?

00:43:36.534 --> 00:43:41.362
Will they actually come through?

00:43:41.362 --> 00:43:42.065
Do they know what they're doing?

00:43:42.065 --> 00:43:42.809
Will they pull up earnest money?

00:43:42.809 --> 00:43:43.672
Will they go visit the house?

00:43:43.672 --> 00:43:44.215
Have they done inspections?

00:43:44.215 --> 00:43:45.360
So, do they understand the market?

00:43:45.360 --> 00:43:46.762
Do they understand the financing?

00:43:46.762 --> 00:43:53.333
So you kind of want to use all your tools to be able to justify it, why your offer is what it is.

00:43:54.280 --> 00:43:57.067
I get the feeling that some people I don't get the feeling.

00:43:57.067 --> 00:44:13.472
I know because it's pretty clear that a lot of people are afraid to offer a lot less than the seller's asking and it's almost like they feel like they're going to be insulting or they're worried about hurting somebody's feelings or looking bad or looking like they don't know what they're talking about.

00:44:13.472 --> 00:44:28.210
And so low offers when I say low ball offers, I mean low compared to what the seller's asking but there's no way you're ever gonna get deals done that make any sense if you're just waiting for somebody to ask a low price.

00:44:28.210 --> 00:44:29.726
It happens like you said.

00:44:29.726 --> 00:44:37.458
Sometimes they just ask for a low number because that's what they need to get to walk, and in that case it's a home run, but it's pretty rare.

00:44:37.458 --> 00:44:44.442
Usually they ask a number that's out of range of what you can pay and it takes you making an offer of what you can pay.

00:44:44.461 --> 00:44:45.443
I think you're right.

00:44:45.443 --> 00:44:51.682
You have to pay a price that makes sense for you and is going to make sense for the overall transaction.

00:44:51.682 --> 00:44:58.961
Offering close to what they're asking just to get it tied up is a pretty risky move, especially in innovations.

00:44:58.961 --> 00:45:03.278
If you're spending some money, you could end up having to renegotiate that.

00:45:03.278 --> 00:45:04.282
You don't want to bank on that.

00:45:04.282 --> 00:45:05.846
So I just love what you're saying.

00:45:05.846 --> 00:45:19.132
I think people just need to get some guts and make offers at where it makes sense and not worry about the ask price and just know how you're justifying, like you said, how to justify the price that you are paying.

00:45:19.132 --> 00:45:23.632
And if it's a number that they can take, they'll take it, but you've got to do that in volume.

00:45:23.632 --> 00:45:27.628
I mean you said you got roughly 17 deals in the pipeline.

00:45:27.628 --> 00:45:31.505
How many offers does it take to get to 17 contracts?

00:45:39.681 --> 00:45:40.382
Man, we're at this all day long.

00:45:40.382 --> 00:45:46.813
You know four people all day long running marketing, a lot of follow ups, a lot of visits.

00:45:46.813 --> 00:45:48.394
You know it's, it's, it's call it 30 offers a day.

00:45:48.394 --> 00:45:49.356
You know, call it 30 off.

00:45:49.356 --> 00:45:57.324
I mean, I want, I want everybody, I want everybody to get an offer.

00:45:57.324 --> 00:46:00.431
Like, if they genuinely do want to sell, give them an offer the worst things they're going to say and go after yourself and say, okay, thank you, god bless, and that's it.

00:46:00.431 --> 00:46:01.829
You know you just bless people whenever they're.

00:46:01.829 --> 00:46:02.911
That's what I tell my team too.

00:46:02.911 --> 00:46:09.121
Imagine if you bless 30 people a day like your, your life would be more, yeah, your life would be more blessed.

00:46:09.121 --> 00:46:22.668
I was like, when you're genuinely speaking to someone, genuinely bless them, like, let's say, you bless 10 people, genuinely, you wanted, you know God to do, you know to be in their life and their life to go well, what's going to happen?

00:46:22.668 --> 00:46:23.969
I mean you're going to feel better.

00:46:23.969 --> 00:46:27.632
Sure, they may not want to do it, they might not want to move forward, but things change all the time.

00:46:27.632 --> 00:46:28.373
They might call you back.

00:46:28.373 --> 00:46:29.673
Hey, that offer didn't work for me.

00:46:29.673 --> 00:46:32.014
God bless, save my number.

00:46:32.014 --> 00:46:32.795
Let's keep in touch.

00:46:32.795 --> 00:46:41.528
I know it's far away, but at the end of the day, it's because we are in this every day we're living our lives.

00:46:41.528 --> 00:46:43.432
So that's what I tell them Live your best life.

00:46:45.219 --> 00:46:49.568
You're spending time speaking to that old lady or that man in the mobile home, in the trailer.

00:46:49.568 --> 00:46:55.996
Let's say, for example I just think of one now that it was in Florida and the guy was in a mobile home.

00:46:55.996 --> 00:47:06.768
We saved this car from repo and we gave him gosh, I mean maybe like 20,000 before closing, but he reduced the price like probably 35,000.

00:47:06.768 --> 00:47:08.572
Sure, you know what I mean.

00:47:08.572 --> 00:47:12.164
So like I didn't lose that money, I knew title was clear.

00:47:12.164 --> 00:47:15.025
I was just waiting on that buyer to get financed.

00:47:15.025 --> 00:47:16.347
We get on my 25 K up front.

00:47:16.347 --> 00:47:18.072
He reduced it 35,000.

00:47:18.072 --> 00:47:21.730
Right, so I mean that's kind of a risky move too right In the beginning.

00:47:21.730 --> 00:47:28.146
But you, you know you, you actually want to help the people and if an offer doesn't work out, then that's fine.

00:47:28.146 --> 00:47:34.554
I've had people where the offer works great, everything's good, and they give us referrals hey, talk to this person, talk to this person.

00:47:34.554 --> 00:47:38.061
So you know, it's just got to make the offers right.

00:47:38.242 --> 00:47:42.713
I mean like you've got to make the offers, and I like how you look at that too.

00:47:42.713 --> 00:47:49.501
It's you're not low balling them in the sense of you're trying to steal something from them or take something from them.

00:47:49.501 --> 00:47:51.266
You're offering what you can pay.

00:47:51.266 --> 00:47:58.262
It just happens to be significantly less than what they're asking for, and a lot of times it's a number that will work for them.

00:47:58.262 --> 00:47:59.650
But you've got to make the offers.

00:47:59.650 --> 00:48:02.021
You just it's a numbers game, is what I'm hearing from you.

00:48:02.021 --> 00:48:02.824
It's volume.

00:48:02.824 --> 00:48:03.447
Think about that.

00:48:03.447 --> 00:48:10.407
Andreas just said that he's got 17 deals in the pipeline and he's doing call it, 20 to 30 offers a day.

00:48:10.407 --> 00:48:12.670
That pretty impressive number one.

00:48:12.670 --> 00:48:15.764
But it's a numbers game and you just don't take it personally.

00:48:15.784 --> 00:48:17.307
You tell them what you can pay and you move on.

00:48:17.307 --> 00:48:19.784
So that's great question for you.

00:48:19.784 --> 00:48:25.159
You know how do you look at the us now that you don't live here anymore?

00:48:27.903 --> 00:48:36.456
you know, I first and foremost look at it with you know, with love and respect.

00:48:36.456 --> 00:48:46.751
You know it's still, when I hear that US anthem I mean it'll get me right and I'll feel those, those goosebumps and that love and that admiration.

00:48:46.751 --> 00:48:49.601
And, you know, strength, so I love it.

00:48:49.601 --> 00:48:54.592
You know, and the people, the people is spectacular.

00:48:54.592 --> 00:48:57.068
You know, I've I've met people from all over the world.

00:48:57.068 --> 00:48:58.072
It's just like they have.

00:48:58.072 --> 00:49:06.373
They have that sparkle in their eyes, right From another perspective, right From not such a positive perspective.

00:49:06.373 --> 00:49:07.181
You know it's.

00:49:07.181 --> 00:49:07.661
I feel.

00:49:07.661 --> 00:49:17.675
I feel a little bit of pain and hurt for what some people go through because, so to call it, they're still in the matrix, right, you know that term.

00:49:17.675 --> 00:49:24.128
So they're controlled by the media, they're controlled by the food corporations.

00:49:24.128 --> 00:49:28.137
I remember you posting I think you went last year to Europe, right, that was last year.

00:49:28.559 --> 00:49:28.679
Yeah.

00:49:28.820 --> 00:49:35.019
And you're like well, you know all those people are thin and skinny and you know they're living better lives.

00:49:35.019 --> 00:49:49.103
So I feel pain for them too, because you know there's like a lot of health issues and psychological issues and and division, but overall, my sentiment is still an amazing opportunity.

00:49:49.103 --> 00:49:52.766
It's still, you know, a land of great opportunity, still an amazing opportunity.

00:49:52.766 --> 00:49:54.007
It's still a land of great opportunity.

00:49:54.007 --> 00:49:54.588
Everybody wants to be there.

00:49:54.588 --> 00:50:11.681
It's the number one still, and there's a lot of opportunity for real estate, for businesses, for innovation, for technology.

00:50:11.681 --> 00:50:12.443
So it's love and respect.

00:50:12.463 --> 00:50:13.625
But I wish people would wake up a little bit more.

00:50:13.625 --> 00:50:28.125
I wish people weren't so profit-driven always right with these food corporations and the pharmaceuticals and things like that and I wish people would remember that God is always with us and don't forget about God.

00:50:28.125 --> 00:50:34.748
Like, think about everything that was in the Bible and how God wanted to live our lives and like, let's look at our lives today.

00:50:34.748 --> 00:50:36.494
Is this, is this, what God wanted?

00:50:36.494 --> 00:50:40.967
So don't forget about him, especially in the schools and the every day to day.

00:50:40.967 --> 00:50:48.949
I know life can be busy and things like that and you're hustling and you're bustling, but you know I feel like we need God more than ever in the U?

00:50:48.949 --> 00:50:50.771
S and that'll spread throughout the whole world.

00:50:51.211 --> 00:50:57.159
Yeah, I think you know freedom is an incredible thing, but with freedom comes responsibility.

00:50:57.159 --> 00:51:07.206
And the problem is when there is freedom you know, both freedom of choice and legal freedom right In a country you can take it whatever direction you want to go.

00:51:07.206 --> 00:51:11.068
So as the morals drop, so do the laws and so does everything else.

00:51:11.068 --> 00:51:22.025
And that's what we've seen here is, you know, because they have, because there is a lot of freedom, you can say and believe anything you want, which is an incredible, which is a great, great thing.

00:51:22.025 --> 00:51:40.731
But if the morals of the people decline, so do the laws, so does everything else, and so you're starting to see that in certain parts of the country more than others, the morals are now changing the laws to make it a less and less attractive place to live, and obviously it's a downward spiral.

00:51:40.731 --> 00:51:41.454
So I agree with you.

00:51:41.836 --> 00:51:43.603
Let's shift back to business really quick.

00:51:43.603 --> 00:51:47.231
I know you're really heavy on training.

00:51:47.231 --> 00:51:52.628
I mean, you're really heavy on training your acquisition guys especially.

00:51:52.628 --> 00:51:54.603
What does that training look like?

00:51:54.603 --> 00:51:57.610
You know to keep them sharp and to keep improving them.

00:51:58.452 --> 00:52:00.065
Sure, I'll give you five things.

00:52:00.065 --> 00:52:01.505
I think I got five good ones in me.

00:52:01.505 --> 00:52:05.570
Number one can they teach it back to you?

00:52:05.570 --> 00:52:06.371
Right?

00:52:06.371 --> 00:52:08.324
I mean, I think that's that's been proven.

00:52:08.324 --> 00:52:09.789
Like hey, can you teach this back to me?

00:52:09.789 --> 00:52:11.264
Like, what does this mean?

00:52:11.264 --> 00:52:12.744
Walk me through it.

00:52:12.744 --> 00:52:14.126
Like how would I understand it?

00:52:14.126 --> 00:52:14.327
Right?

00:52:14.327 --> 00:52:15.686
So I think that would be number one.

00:52:15.686 --> 00:52:20.871
Number two is just like on a baseball or football or basketball, right?

00:52:20.871 --> 00:52:25.489
They're looking at their tapes of like okay, what did I do?

00:52:25.489 --> 00:52:26.333
Did I jump too high?

00:52:26.333 --> 00:52:27.483
How did I miss that pass?

00:52:27.483 --> 00:52:28.407
Did I make a wrong turn?

00:52:28.407 --> 00:52:35.831
So going using some AI and hearing back their calls and breaking down the calls with them together.

00:52:37.181 --> 00:52:42.594
Number three is they really have to know how to connect and create a bond with somebody.

00:52:42.594 --> 00:52:51.347
Right, because we've all met those people where it's like we meet them for a day or two or you know, like a night, and it's like we feel like we know them.

00:52:51.347 --> 00:52:57.880
You know they maybe went to the same school or from the same town, or like the same sports team or went to the same high school.

00:52:57.880 --> 00:53:03.492
So how to build that, how to, so to say it right pun intended how to manufacture that?

00:53:03.492 --> 00:53:08.559
Yeah, how to build that manufacture the relationship, like how do you do that right?

00:53:08.559 --> 00:53:11.224
So they have to know how to storytell and things like that.

00:53:11.224 --> 00:53:17.534
So, really, the EQ right, have that EQ and be aware of those things.

00:53:17.534 --> 00:53:23.969
Number four, I would also say, like, put it on your calendar, like how to?

00:53:23.969 --> 00:53:34.246
How to actually set up appointments, how to advance people, how to glue it right, because without an appointment, appointment, if you and I didn't have this appointment, we wouldn't be doing this.

00:53:34.246 --> 00:53:36.360
If you and I didn't connect, we wouldn't be doing this right.

00:53:36.420 --> 00:53:42.592
so how to actually have someone on a calendar and keep them accountable to appointments.

00:53:42.592 --> 00:53:43.603
I think that's critical.

00:53:43.603 --> 00:53:45.333
But it's like, hey, yeah, they said yes to the offer.

00:53:45.333 --> 00:53:46.440
Okay, well, when's the appointment?

00:53:46.440 --> 00:53:47.664
Like, when are we going to be doing this?

00:53:47.664 --> 00:53:55.125
Yeah, and then number five is uh, you know, I like to do team trainings every day in the morning on different subjects.

00:53:55.125 --> 00:53:56.889
Hey, how are we comping this?

00:53:56.889 --> 00:53:58.932
What's going on with the interest rates?

00:53:58.932 --> 00:54:01.608
Let's go over these news articles so you can tell people.

00:54:01.608 --> 00:54:02.690
Thanksgiving is coming up.

00:54:02.690 --> 00:54:03.942
Are you wishing them thanksgiving?

00:54:05.003 --> 00:54:10.114
How to story tell again different things, um, specific parts, what's?

00:54:10.114 --> 00:54:12.065
Uh, different types of questions, right?

00:54:12.065 --> 00:54:17.188
Uh, if I'll read something in a book, hey, I want to share this piece of content with you guys.

00:54:17.188 --> 00:54:19.583
Let's go over, let's break down what this person is saying.

00:54:19.583 --> 00:54:22.773
How are you picking up your call?

00:54:22.773 --> 00:54:24.478
How are you texting them?

00:54:24.478 --> 00:54:26.043
What are you saying in your text?

00:54:26.043 --> 00:54:28.192
Why don't we try chat GPT here?

00:54:28.192 --> 00:54:31.460
Let's use this tool, right, different sorts of tools and techniques.

00:54:31.460 --> 00:54:36.706
Like in the morning, we can go over the title companies.

00:54:36.706 --> 00:54:38.286
Right, here's our addresses.

00:54:38.286 --> 00:54:41.329
We'll break down specific deals.

00:54:41.329 --> 00:54:46.773
Hey, so different sorts of trainings that have to do within the script and we do as a team together.

00:54:46.773 --> 00:54:50.336
So those are some ways that people can really scale up.

00:54:52.760 --> 00:54:58.353
Yeah, I know that you're heavy on the education and the training side, which is really probably a little secret sauce of yours.

00:54:58.353 --> 00:55:08.391
That's given you so much success, as you're investing a lot of time and a lot of effort into seeing that these people are very knowledgeable about what they're doing.

00:55:08.391 --> 00:55:11.327
And you know something that you mentioned EQ.

00:55:11.327 --> 00:55:25.989
It's a very difficult thing to train people on and teach people on, because understanding people's emotions and being able to I guess you could say manufacture the emotions is not easy.

00:55:25.989 --> 00:55:32.110
That's something that the best salespeople are good at is they can pull on the heartstrings a little bit.

00:55:32.110 --> 00:55:40.724
They can read people's emotions and understand what they're coming from not just what they're saying, but tones and read between the lines.

00:55:40.724 --> 00:56:10.849
I mean, that's not easy to learn Anything that you would say has been an aha moment for your team, or maybe even for you, when it comes to sales skills aha moment or a big thing that you figured out, and you now are very um thorough in teaching people yeah, I, I would say a lot of people you sales.

00:56:11.250 --> 00:56:26.693
It comes down to a series of questions, right, but what the part I think people leave out as well is how do you share details about yourself, like how do you get that person to know and feel like they actually know you?

00:56:27.440 --> 00:56:35.632
Like that's hard, right, but if you're aware of that, like once we became aware of that, like I have to tell them things about myself.

00:56:35.632 --> 00:56:38.630
I got to tell them things about my childhood, how I grew up here.

00:56:38.630 --> 00:56:40.045
I've been to these restaurants.

00:56:40.045 --> 00:56:44.119
The title company is located here, it's next to that church.

00:56:44.119 --> 00:56:47.650
Like, tell a story about yourself as well.

00:56:47.650 --> 00:56:50.146
It's not just like, hey, I'm going to interview this seller.

00:56:50.146 --> 00:56:53.297
It's not just like, hey, I'm going to interview this seller.

00:56:53.297 --> 00:56:59.688
So it's kind of like making that organic connection where it's like it doesn't feel forced but they actually know things about you.

00:56:59.768 --> 00:57:04.226
I think that's critical, because a lot of people are just like, okay, ask them the right questions, you ask the right questions, this, that.

00:57:04.226 --> 00:57:07.461
But at the end of the day, they're going to buy something based on a few.

00:57:07.461 --> 00:57:13.326
A lot of the times, people will sell us for less money because of how, the way they feel about us.

00:57:13.326 --> 00:57:17.327
So it's like really having like ask yourself does this person know who I am?

00:57:17.327 --> 00:57:21.771
Because if not, how are they going to sell me their three, four $500,000 home?

00:57:21.771 --> 00:57:25.954
Or it could be a million dollar home in California, right?

00:57:25.954 --> 00:57:34.202
So it's like actually making them feel like, hey, I know what this person stands for, I can use politics.

00:57:34.202 --> 00:57:35.706
I can talk about Trump, I can talk about Biden.

00:57:35.706 --> 00:57:45.503
So even me just giving commentary on those things, I can probably talk about how I worked out, how I went to the park, how I walked my dog, how I was at a barbecue.

00:57:45.503 --> 00:57:46.766
All these little things.

00:57:46.766 --> 00:57:53.559
They start to formulate an image about you and I feel like a lot of people miss that and that's critical.

00:57:54.501 --> 00:58:03.342
Yeah, you're basically saying that they have to know you as much as you know them on a personal level.

00:58:03.342 --> 00:58:19.925
You've got to actually build a real relationship and if it feels one-sided, they're not going to be as motivated to sell to you and they're not going to feel like they're not going to be as motivated to sell to you and they're not going to feel like they're doing business with someone that they know and like, and I think that's that's that's phenomenal advice right there.

00:58:19.925 --> 00:58:32.590
I think one thing that we need to work on within my company and my acquisition team is that you know they have a seller questionnaire, they understand what they need to get from the seller and they listen a lot.

00:58:32.590 --> 00:58:46.559
They listen to the seller and hear their stories and get to know them, but I don't know that we're necessarily giving them as much real personal information back so that it feels mutual.

00:58:46.559 --> 00:58:52.213
It has to be a genuine conversation and not just an interview.

00:58:53.159 --> 00:58:58.092
Exactly yeah, because when someone takes interest in you, they're going to ask you questions and they're going to want to know.

00:58:58.092 --> 00:59:04.041
There may not be that opportunity because, again, it could be a cold call, it could be something out of the blue.

00:59:04.041 --> 00:59:06.143
They might be embarrassed, they might be going through some problems.

00:59:06.143 --> 00:59:15.202
But if you start to throw that in there and I tell you, hey, mario, I was in this place in Sarasota, you know, last week, it'd be really.

00:59:15.202 --> 00:59:16.469
I've gone there Like you don't even.

00:59:16.469 --> 00:59:26.909
You don't even like your interest is going to be normal, you know, organic, because it's somewhere you've gone, somewhere you know, and so we'll, we'll start to build a relationship that way.

00:59:27.699 --> 00:59:29.164
Yeah, that's good, andreas.

00:59:29.164 --> 00:59:29.925
This has been fun.

00:59:29.925 --> 00:59:35.927
Man, I learn so much from people that are in other industries than me and other property types than me.

00:59:36.228 --> 00:59:51.425
I think you just made me a ton of money today, and I hope listeners pick that up too, not only from the Novation standpoint and being able to use that strategy in another property type, but a lot of the training and tips that you gave on communicating with sellers and things like that.

00:59:51.425 --> 00:59:55.690
It all translates into other businesses and other property types as well.

00:59:55.690 --> 00:59:59.623
So I love what you're doing and I'm actually looking forward to.

00:59:59.623 --> 01:00:02.311
I told Star, my wife, you know we need to go down and visit him.

01:00:02.311 --> 01:00:07.519
I definitely want to check out Columbia and I think it'd be a lot of fun to hang out with you down there.

01:00:07.519 --> 01:00:14.612
Obviously, we've hung out here in the United States multiple times, but I need to come to your world and go tear up Columbia.

01:00:15.574 --> 01:00:16.335
Absolutely, man.

01:00:16.335 --> 01:00:23.552
It'd be a pleasure to host you guys on here, show you guys around, enjoy, have a great time, great food, so I'm looking forward to that.

01:00:23.800 --> 01:00:24.844
I'm looking forward to it too.

01:00:24.844 --> 01:00:33.541
I got to get over a little bit of a hump here with the baby coming up, but after that we're going to be looking at coming down to visit you.

01:00:33.541 --> 01:00:36.829
So, andreas, number one, how can people get ahold of you?

01:00:36.829 --> 01:00:41.628
And, number two, who should get ahold of you to do either business or learn from you?

01:00:42.371 --> 01:00:42.952
Yeah, absolutely.

01:00:42.952 --> 01:00:44.302
You guys can follow me on Instagram.

01:00:44.302 --> 01:00:47.949
That's where I'm most active and that's Rio.

01:00:47.949 --> 01:00:50.121
And then my first name, Andreas.

01:00:50.121 --> 01:00:55.090
My last name, Olaya I'm sure you can leave it down in the comments below in the description.

01:00:55.090 --> 01:00:56.817
And then who should reach out to me?

01:00:56.817 --> 01:01:00.567
Man, anybody that's interested in real estate.

01:01:00.567 --> 01:01:09.393
We can do joint venture deals, we can partner I'm happy to get on calls People that want to grow, and then we can add value to each other.

01:01:09.393 --> 01:01:13.650
People who want to come down to Columbia If anybody's coming down to Columbia, you know I love to connect with people.

01:01:13.650 --> 01:01:14.411
That's one of my things.

01:01:14.411 --> 01:01:26.688
You know, when we talked a few weeks back, it's just like you never know what door can open, like have conversations, meet people, take that meeting, you know, see where there's synergy and that's one of my things that I really like to do in life.

01:01:32.480 --> 01:01:33.163
Just, you know, meet other people.

01:01:33.163 --> 01:01:34.367
So yeah, guys, I'm going to open book, so reach out to me.

01:01:34.367 --> 01:01:35.152
For sure, andreas is a rock star man.

01:01:35.152 --> 01:01:35.934
I thank you again for doing this.

01:01:35.934 --> 01:01:36.677
Appreciate it, guys.

01:01:36.677 --> 01:01:41.411
Thanks for being on and pay attention, because we had another good one coming out soon, take care.

01:01:41.519 --> 01:01:42.766
Hey Mario, thanks so much, God bless.

01:01:42.766 --> 01:01:43.893
Take care, I'll talk to you guys later.

01:01:43.893 --> 01:01:44.396
Bye.