Epic Real Estate Investing - Finding Motivated Sellers in a Tough Market | 1163

Episode Date: September 11, 2021

Are you at a loss of how to buy a house in 2021 given the crazy real estate market? Is the fear of missing out (FOMO) a good real estate investing strategy right now, or should you sit on the sidelines and wait for the crash to buy? Tune in and find out in the first part of today’s episode! Moving forward, Matt is joined with "Mr. Lease Option" himself, Joe McCall, of the Real Estate Investing Mastery podcast. These two gentlemen discuss some of the top marketing and lead generation strategies for finding deals in tough markets. No matter how "hot" the market is or how little experience you have, these proven strategies will get you there! BUT THAT’S NOT ALL! Finally, you will hear the latest in the news and crypto updates that bring us together and set modern ideas on creating wealth!  Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. Save the date, October 14th through the 16th, live in Las Vegas, Nevada. You're invited to attend the next Epic Intensive, the creative cash flow event, how to create passive income using creative financing and real estate investing strategies. It's the transformational event of the year for real estate investors. At this event, you're going to discover the secrets to revealing off-market deals hiding in plain sight. This is the engine that drives you're investing. The art of how to influence sellers and win deals.

This is the most profitable skill of a real estate investor. You're going to get the secrets to crafting creative deal structures. So you can maximize your ROI with every opportunity that crosses your desk and create passive income using more of your brains and less of your bread. You're going to get the secrets to putting your money to work so that it works harder for you than you did for it. Then you're going to learn what's new, what's hot, and what's actually working in real estate investing today. So if you're into raw, raw real estate investing seminars, then this is not for you.

However, if you'd like to make real estate investing simple, fun, and most importantly, profitable, be in Las Vegas, Nevada on October 14th through the 16th, the first 50 guests registered are in for free. Go to epicintensive.com. First 50 guests registered are in for free, Epicintensive.com. All righty, in today's show, I have a special guest. Mr. Joe McCall back on the show where we'll be discussing the market and how to specifically find the motivated sellers in this market. And I think you'll be surprised with some of the things that we discover that actually suggest this is a better market than normal for real

estate investors. But first is FOMO, the fear of missing out a good real estate buying strategy right now. Or should you sit on the sidelines and wait for the crash? Well, I've got three things for you to consider why FOMO buying right now might be a smart. move. And I'll let you in on where to find the four most affordable metro housing markets in the United States just in case you insist on a deal. And then I'll tell you why I finally broke down and bought my first primary residence despite my own advice not to. And then I'll finish up with how I beat all the cutthroat buyers in the market right now without being outbid or overpaying. There's a lot here to unpack today. So let's go. Welcome to the all new epic real estate investing show. The

longest running real estate investing podcast on the interwebs, your source for housing market updates, creative investing strategies, and everything else you need to retire early. Some audio may be pulled from our weekly videos and may require visual support. To get the full premium experience, check out Epic Real Estate's YouTube channel, EpicR-Rei.tv. If you want to make money in real estate, sit tight and stay tuned. If you want to go far, share this with a friend. If you want to go fast, go to reiase.com. Here's Matt. Hi, my name is Matt Terrio, CEO of Epic Real Estate,

where we show people how to invest in real estate so they can escape the daily grind and retire early. And it's no news that the real estate market right now is and for some time has been, particularly on the retail side, absolutely crazy. Everyone wants to know, when will this calm down? I mean, is this market, insanity, is it fueled by an authentic and sustainable demand?

Or has the fear of missing out taken root and caused a buying frenzy that will inevitably crash and crash hard? Should you dive into the craziness and get whatever house you can or sit on the sidelines and wait for a dream home deal? Whatever your answer, I've got some stats that might cause you to rethink your situation. But first, let's check in where we are now with the National Association of Realtors' latest quarterly report. There's no big surprises here as it shows the demand for homes continues, being driven by low inventory levels and record low mortgage rates. All but one of 183 markets

have shown an increase in their median sales price this quarter. The report also revealed that 94% of markets experienced double-digit price increases compared to 89% in the first quarter of this year. Since last year, the median sales price of single-family existing homes nationally rose almost 23%. In all regions saw double digit year over year price growth. The Northeast, 21.8%, the South, 21%, the West, 20.9%, the Midwest, 17.1%. Now, the National Association of Realtors' Chief Economist said that home price gains and the accompanying housing wealth accumulation have been spectacular over the past year,

but are unlikely to be repeated in 2022. And he went on to say that there are signs of more supply reaching the market and some tapering of demand. Now, he didn't cite any sources for these two pieces of information, and I'll show you in a minute why they're probably insignificant anyway. Yun did make a strong point for housing affordability, stating that for the first-time home buyer, it's weakening. The benefits of our historically low interest rates can't keep up with the rising prices of homes, thereby increasing the average monthly payment for the first-time home buyer in proportion to their median family income. Right now, the median homebuyers mortgage payment represents 16.5% of their household's income.

A year ago, it was 14%, 2.5% less. Further, for first-time homebuyers, the mortgage payment on a 10% down payment loan rose to 25% of their household income. When that number reaches more than 25%, it's typically deemed unaffordable by mortgage brokers. So, this sounds like things are getting a little rough for first-time home buyers, and that the pendulum might finally be swinging back toward a more sane and stable market, so it sounds. But here's why it might not be enough to reverse direction for home prices. And there are three specific things that you're going to want to consider before deciding to wait for this bubble to pop or to dive in the deep end and buy.

First thing, the supply. And I've covered it extensively here on the channel. already. And in a nutshell, builders aren't building fast enough. At the current pace of approximately one and a half million new homes being built a year, it would take more than a decade to close the supply gap just to normalize the retail market. Second, the demand. Now, despite what you hear in the media about the declining percentage of population growth, the total number of people is growing significantly year over year. And more importantly, it's the age distribution of the population. that's likely to swing home prices one way or the other over the next 20 years. Here's what I mean.

The peak population of our society today is 29 years old. Just two years shy of the average age of the first-time homebuyer, age 31. And there's a bigger generation, Gen Z, right behind them. So here's the deal. We don't have enough homes to house all of these people, nor are we building new ones fast enough. Yeah, but Matt, this generation doesn't have nearly as much money as the previous generations. How are they going to buy a home at these rising prices? Something's got to give,

right? I get it. This is an argument that I hear frequently, and I'm not sure whether this generation has less money or not. No one has really been able to show it to me. Either way, though, it's a sweeping generalization, and even if it is true, it might not matter. Here's why. Today's repeat home buyer has an average FICO score of 740. The average first-time buyer's FICO is is 725. These are strong buyers. Further, the average back-end debt to income ratio is falling for both repeat and first-time home buyers alike. And what's more is, their mortgage payment represents the smallest portion of their disposable income that we've ever seen. If it's true that millennials don't have the money to keep up with rising home prices, their parents do,

at least for a while. And here's why that's important, because today's homebuyer isn't stopping at buying just one. A November headline on barons.com reads, second homes are driving the U.S. 's COVID-19 housing boom. A December story in the Washington Post reports, second home market surges. And just in June on CNN.com, people are snatching up vacation homes and many are paying with cash. The demand is strong. Buyers have got cash, they've got credit, and their debt is shrinking. So do you see what's going on here? You know, despite what you think about rising housing prices and the real estate market, it doesn't seem to care. It's going to do what it's going to do. And when demand is outpacing supply at such a strong and rapid rate,

many more will get priced out of the market. But wait, there's more. The third thing to consider, inflation. And I understand this is a wild card. It could go either way long term. But it's going really strong in one specific direction right now. And that's straight up. And if it continues, There's only one real way to stay out in front of it, and that's by using long-term fixed debt to invest in cash-producing and or inflation-appreciating assets. For the average person, that means real estate. Now, you can wait for the market to shift before you buy, and I don't think anyone would think that you're foolish for doing so.

But you could be waiting a very long time, perhaps indefinitely. It's not probable, but it's possible. This is one thing I know. If you were to pick any period in modern history where a house was purchased and waited 20 years, regardless of what year that house was purchased, that person would be better off than had they not. Historically speaking, the average homeowner is 40 times wealthier than the average non-homeowner. So those are the facts. Do with them what you wish.

And I'll tell you what I did and what I'm doing in just a second. But in this National Association of Realtors report, despite showing how much prices have increased it did show four metro areas where you need $25,000 or less to buy a home and more specifically where the average family can afford to finance a home with a 10% down payment number one the Rust Belt areas of Youngstown Warren Bordman Ohio you need 24,401 dollars to afford a home in this area according to Zillow the average home price here is $127,274 and two of the large largest employers in this metro area include General Motors and the U.S. Postal Service.

Number two, Peoria, Illinois. To afford a home in this town, you would need $24,013. The average home price is about $100,085, according to Zillow. Caterpillar is one of the largest employers in Greater Peoria. Number three, Cumberland, Maryland. You could afford a home in this town with about $23,773. The average home price in Cumberland is $103,449, according to Zillow. Started as a railroad town, it's manufacturing, coal mining, and outdoor recreation that now drives the city's economy. And number four, Decatur, Illinois.

To afford a home indicator, you would need $21,481. The average home price is $84,428, according to Zillow. Known as a major soybean processor in the 1900s, the largest employer in the town is now Archer Daniels Midland Company. Now, I've never been to any of these places, but now you at least know where they are. So, with all this data, what is there to do? Well, I don't know. You do what you feel is right for you, but here's what I did and here's what I'm doing. Despite a decades' worth of podcasts and videos shouting from the rooftops that your primary residence is the worst performing asset in America, and I still believe that to be true. But I did just buy my first home. And here's

Why. My advice to not buy your primary residence and rent instead always did come with one caveat. And that was to buy your home as long as it is cheaper on a monthly basis than renting. Now, that might not mean much to you depending on where you live, but I've never lived anywhere where that was even possible. So I could always live in a much nicer home for a much cheaper monthly amount while my income properties footed the bill. It was my income properties that paid my rent. This year, median rents nationally rose 8%. And the median rents here in Las Vegas, where I live now, increased by 23%. The rents here for your average home have gotten pretty close to the mortgage payments.

What's worse, bidding wars here aren't exclusive to home sales. Nope. They're happening with home rentals too. And it got to the point that if I wanted to stay in a reasonably nice home where I felt my family was safe, it was going to be cheaper for me to buy than it was to rent. So, I bought. Now, the part you've probably been waiting for, how did I compete against all the bloodthirsty, cash-rich buyers without being outbid and overpaying? Pretty simple, actually.

You see, when we submitted our first offer, we were one of 20 on this particular home. Needless to say, we didn't get that one. Our agent said, that's how it is. get used to it and just kind of wait for your turn. Well, I found that explanation completely unacceptable. So, I decided to flip the script on the sellers. And I picked out 10 houses that I found to be reasonable places to live, even if they were going to be temporary. And I wrote 10 full-price offers for houses, sight unseen, and I did that all on one day. So we received four replies, two counteroffers where they had asked us to remove our appraisal contingency.

I said, no thank you to them. And then the other two were actually accepted. So we toured those two. We picked our favorite and per the inspection contingency in our purchase agreement, I canceled the other one. So we were in escrow within a week without paying a single dime over asking price. See, the sellers in the market are playing nasty games, pitting buyers against each other.

So I played my own game. And here we are. home sweet home and i'll be submitting 10 more offers tomorrow to pick up my next one so sure i've got a little fomo going on but it's fear based on data on a growing demand that's outpacing supply both in sales and in rents based on historically low interest rates and inflation rising more than twice the normal rate so for now i think fomo executed correctly wins in the long run Thanks for sitting tight while we pay our light bill. We'll be back.

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I'm going to be joined today by my good friend, Mr. Lease Option himself, Mr. Joe McCall, and we're going to talk about finding deals in tough markets. And we're going to talk about what's working with creative real estate investing right now. And while we're waiting for Joe, before we begin, mark your calendars for October 14th through the 16th as we're bringing back the Epic Intensive live here in Las Vegas as we're going to be spending three days together diving deep into creative cash flow strategies, specifically on how to create passive streams of income in creative ways, using very little to none of your own money. So information to be up very soon if it's not already at Epic Intent. intensive.com, but mark your calendars at the very least, October 14th through the 16th, and I really hope that you can make it. And it looks like he's just chiming in right about now. So I'm going to switch this over, add Joe to the stream, and boom, there he is, just in time.

Welcome to the show, Joe, good to see you. Actually, I'm a minute or too late. My apologies. Yeah. Have you seen the movie, The Five Heartbeats? I've heard of it, no. Okay. There's the opening scene is that the band is playing, and the band is already started and the lead singer is like across town. And so they just show him making this giant, you know, this mad dash across the town through the cabs under the bridges over the fences and everything and it slides right onto the stage just as his cue to sing. And there you are.

Yeah, right. Hey, how are your Dodgers doing by the way? You know what? I haven't looked at the scores recently. I've been very busy. And the other thing here is I've got two TVs that have blown out in my house. So I haven't seen TV in about 10 days. I'm looking at the wild card standings right now. They're in the lead in the wild card. But my Cardinals, my St. Louis Cardinals are two and a half games out. Who's in first place in our division? Padres? I'll tell you just a second. I was just there. The Giants, of course. But you're only a half game behind them. So it's like,

Yeah, the Giants always find a way to choke last minute. God willing, from your God's ears for sure. Yeah, I should have worn my Cardinals hat. I know that would have been great, but you're not a real fan, so. Come on. That's kind of how it works. Anyway, bring me up to speed, Joe. What's new and exciting in your world? You know, I love creative financing. We've talked about it a lot, and

It's something that I cut my teeth with creative finance. Well, actually, it was, I was doing wholesaling deals. And I was doing what you were supposed to do, man. I was sending the postcards to the same postcards that people were sending to the same lists that everybody was sending to. Right. And this was way back in 2008. And it's funny too, because even back then, people were always complaining about the competition.

And it's hard. And why would a seller ever want to sell their property to you and all they need to do is stick a sign in the yard? Why would a tenant buyer, why would a buyer ever want to buy a property from you when they can find all the kinds of deals they want on the MLS? So there's always an excuse like that, no matter what direction. But I remember sending the same postcards of the same list that everybody else was sending to. And I got tired of throwing away leads that didn't have any equity, which is what most wholesalers do. Now, we still wholesale deals. I'm not knocking wholesaling, but most investors will throw away a lead if it doesn't have any equity.

If it doesn't fit into this little box, well, there's nothing I can do with it. And I started just asking, well, what if I could like maybe offer a lease option on those properties? Or what if instead of doing the whole deal from beginning to end, what I just want to, I'd rather make a quick nickel than a slow dime. And this is when I was going through a place where I was losing a lot of homes to foreclosures and short sales because of the crash. And so I don't want to own another deed again at the time. And I was thinking, okay.

So I started flipping the lease options. I didn't want to stay in the middle. I wanted to make a quick nickel instead of a slow dime. So I would just get it under a lease option contract. And then I would flip that contract to a tenant buyer who lived in the house. And I started doing those deals left and right. And so my point in all of that is this. The market shift and every market is different.

And there's strategies that work really well in certain markets and certain times in the economy and all that. And so our job as investors is be like transaction engineers. It's a really important investors today to succeed in this market, know how to make multiple offers to sellers, know how to when the seller needs a cash offer, make a good cash offer. If they need payments, if it's more important to them to drag it out, if it's more important to them to lease it or owner finance it to somebody who's going to take care of it, they don't have to worry about management headaches. So you now have strategies that you can offer to sellers and give to them.

It's not a one-size-fits-all. You can make money doing one-size-fits-all, but how much more money could you make instead of going and going from one out of 30 offers accepted to three out of 30 offers accepted when you can do creative finance. Right. And so it's people send to complicate it, but like it's always, for me, it's all about asking bigger, better questions. Like what if I could do this?

What if I did that? Mm-hmm. Really, you know? That's what I was going to ask you. Because I've got my own process for getting to that part of the conversation and finding out what the seller really does want or what they need. What is your process for getting to that point? I think that's a sticking point of how that is actually introduced and people kind of fumble the ball at the goal line there.

Yeah, what's easy to do? And I always try to just keep it real simple and just ask questions, lots of questions. Listen twice as much as I talk. And so I'm always asking questions to the seller like, you know, tell me about your situation. What's going on? What would you like to see happen? I love that question. What would you like to see happen?

And so try to find out about the house or situation. What are you going to do after you sell it or you know, you have other rental properties or are you trying to get rid of all your properties right now or what are you going to do with the money once you get it? Just trying to find out, figure them out. And I also let sellers know pretty early on that I'm an investor and I'm looking for deals. And listen, it's totally cool. If you don't like what I have to offer, you can just tell me no and I'll go away.

you know, I give them permission to say no, and I'm not chasing them, right? But so I set the stage that I'm an investor. I'm looking for a deal, but I have a lot of different ways I can help them. Can I just ask you some questions about your house and about your situation? I try to dig into why they need to sell. Do they need to sell or want to sell? And really start asking about the house. And so finally, you know, after I get as much information as I can,

I ask so many questions, it's almost uncomfortable. But here's the crazy thing. It's uncomfortable to me. Like sellers like talking about themselves. Totally. Right. But sometimes you can tell like, okay, you've asked enough questions, right? But you talk to them, ask some questions.

And then I really try to get down to, all right, what's, if you were to sell it today, what's the least you would take for it? You know, what's the lowest you could go? And I asked like that three different times. Could you go any lower than that? Sometimes I like to ask if they say 75's the least I would take. I would say, well, you know, is that a fair price for this crazy market? you know, let me ask you something. You're an investor, you're smart investor. If you were in my shoes,

would you pay $75,000 for this property? And they're always throws them for a loop. They're like, oh, uh, you're a pause and I just shut up. I just listen. So I'm asking them questions. It's just asking, is that a fair price? Do you think for this crazy market? Would you pay, if you're in my shoes, would you pay 75 grand for the deal? Right. Right. And I ask him, you know, if I brought a suitcase cash right now to your door, with $50,000 in it. Are you telling me you would not accept it? You wouldn't take $50,000 in cash right now if I brought it in the suitcase.

And that's kind of weird. I kind of chuckle with it. Well, anyway, I want to find out their bottom line number. Sometimes sellers won't give it to you, right? And so I try to get it as much as I can. I say, listen, what number would make you happy? Can you give me a price range? You know, what our house is similar to yours selling for in the area?

Really try to get where they're at. And if I'm miles apart, and usually that's the case. I say, you know, I don't know if this will work or not, but one of the things I do sometimes is I buy houses creatively with special financing, like owner financing or at least purchase or something like that. Let me ask you something. Again, I don't know if this worked totally cool to say no, but if I could get you that price that you want, that 75 grand that you want, would you be willing to wait for it? Would you be willing to take your payments over time? And I just leave it at that. The other thing, too, is I always recommend they just list it with an agent.

right. You know, you should probably just list it with an agent. Have you tried that yet? How'd that go? You know, if you want the most for your property, you should probably just hire an agent, clean the house up, fix it up a little bit and sell it with an agent. That's where you're going to get the most money. Kind of see what they say. If they say, yeah, you know what? You're probably right. Great, right? I'm helping the seller. They can never accuse me of taking advantage of them. And I always tell them I'm not going to be your highest and best offer for a cash. Well, then finally, I'll get to a point where I'll like, okay, what are you going to do? if you can't sell it. Are you going to rent it out? And for me, I do a lot of lease options. And that's one of my favorite questions. I'm trying to gauge what they would say. If they can't sell it, would they rent it? And they might say, you know what? I'm just going to sit on it until

I sell it. Well, their motivation is practically zero. That's fine. I'll send them an offer and follow up. If they say, well, you know what? I don't know. Then I'll kind of get into this. I'll ask, I used to be in this thing when I first got started doing lease options where I would sell the lease option concept. Now I try to just ask it with questions. I try to sell it with questions. I say, listen, what if I don't know if this will work, but what if I could lease your property for a little bit, take care of all the maintenance and vacancies, you don't have to worry about any of that.

And then I could buy the house after a couple of years. What would you want to do then? And that's how I pitched the lease option, right? I'm going to lease it for a period of time, take care of everything and then buy it. What would you want to do then? And that's one of my, I also like to ask, what would you like to do then? Could we do business today? So it's just asking questions.

Does that make sense? Oh, 100%. Yeah, it sounds like we went to a similar school. And you know what it is? It's the Sanders Sales Institute. Totally, 100%. It's the, if you can't teach a kid to bike, write a bike in the seminar, then... Yeah, that's a great book.

That's the title. Yeah. You didn't even need to open... You can't teach a kid to write a bike in a seminar. You can't teach a kid to write a bike in a seminar, right? I didn't even need to open the book. Like the title said it all. It's like, okay, I get it.

Yeah, so really, It's just kind of shifting. Most people are when they're out talking to sellers, they're trying to convince the seller to sell to them. Whether that's intentional or not or subconscious, it happens and that's kind of the position that most investors will take. But really, you need to flip the script and get the buyer to convince you to buy.

Yeah, that's so important, especially when you're doing creative deals. Yep. Because they might think, well, that sounds too good to be true. What's the catch? You're going to give me my asking price? Like, what's the catch? So I'm always asking questions and playing the reluctant. into buyer because I want the seller to sell me on why I should want to buy their house.

I used to be like this pitch salesman. One of my coaches, Claude Diamond used to call it premature presentation, where you go into presentation mode and you just pitch, pitch, pitch, like all the benefits of what a lease option is and how it can help you and how it can do this and that and how awesome it is. And I used to do that. And like 20 minutes later, I would go through my thing just talking and talking and the seller would say, I need to think about it. And really, that's just code for,

I want to get off the phone and I'm too nice to tell you no. So I just like to frame it in questions, if I figure out really what the seller wants, how can I help them fix their problem? Because you can only do deals with motivated sellers and the seller may not be motivated right now. Chances are they're not, or if they are, they're just hiding it. Sellers are really good at hiding their motivation. They're not going to come out on the first call and tell you all of their problems and woes. But there's guys that only do deals with those one out of 100, right? Right, right. One time my business partner and I, Gavin, we looked at in the last 12 months, all the deals we did. I think it was like 58 deals. And this was a year or two ago. And we said,

all right, of those 58 deals, how many of those deals came from that first conversation with the seller? And only four of them did. So if we would not have done any follow-up, we would have only done four deals that year. But on average, it was five to seven touches, three to four months, on average where those deals come from. Some of them was like just two follow-up. Some of them were over a year of follow-up. Do you attempt to close on that first call every time? No.

Right. I don't. Okay. I was just wondering how those four came about because that doesn't even enter the conversation on my first contact. Well, sometimes it's like, you know, they tell you their price and it's right in the same ball market where you would be. Right.

That's when you, you know, you make the appointment or you send your person to the house to get under contract, you know. We just, I'm working right now with the student on a deal. But even with it to that point before you switch the subject, even to that point, if it's too easy on that first call, you got to push back a little bit. You still got to push back a little bit. Like, are you sure? That seems like a great deal for this house. I could stand to make a lot of money on this. Are you sure that's what you want? We were just working on a deal. Yeah. And it also raises those red flags for me because we were working on a deal. And like the

seller agreed to everything, full price. I mean, like, they're asking price. 100% owner financing principal only payments 20 years. And in fact, they were willing to do $500 principal only payments. It would rent for $1,500. So there are a lot of cash flow in that deal. And I thought, oh my gosh, this sounds amazing. And I read flags, though, is like, this shouldn't be that easy. Yeah.

Look into it and he's not on title, right? And he said it's free and clear. And there wasn't. There was a mortgage on it from four years ago. So, you know, with something's fishy about that, my student is digging into the deal more. Sure, sure. The subject for today was to find deals and tough markets, right? Yes. And my first question is just like, is this a tough market?

It depends on your perspective, isn't it? So I don't know if it's like even me, my perspective changes because I go through phases where I get discouraged and think, oh, man, this market's tough. And then all of a sudden, like deals left and right are coming around. Maybe it's because we're coming into the fall, the end of the summer, as we're recording this right now. But I have a student who got a deal in my backyard here in St. Louis, 631, 1,21. You might know where that's at.

And it's a house that's worth 50 to 55 grand. He got it under contract for 22. And I got a buyer right now that was willing to pay 28 for it. So he's going to get a $6,000 assignment fee. And he was wanting to partner with me on it. And this is such a slam dunk. I'm like, no, dude, I just connected him to my buyer. And I'm letting them work it out.

So he doesn't have to split that wholesale fee with me. right. So in fact, I just got a text from the buyer right here. It's a great deal. And how did he find it? Well, he was just in the right place at the right time doing consistent marketing. So I think the key, it's not hard to find deals when you're brilliant at the basics, right? And I wrote a book about that. When you're brilliant at the basic stuff, which is answering the phones, talking to five sellers a day, sending an offer to every seller you talk to, following up. Returning voicemails. Returning voicemails. Yes. Oh my gosh. people don't do that. You know, sending an offer to every seller you talk to,

following up with every single seller every 30 days, send them a new offer every 30 days, call them, text them, email them, smoke signals, carrier pigeons, FedEx, like whatever. When you can do that, that stuff your competition is not doing. And in every market, there's always going to be 5% to 10% of sellers that want to sell that are going to be extremely motivated. The house is trashed, dead deceased parents, you know, it's a divorce, it's a job loss. That stuff still happens in a hot market, whether it's going up or down. If you're good at that stuff, basics, the brilliant at the basic stuff, you're going to find deals. Sometimes, yeah, you can say it's easier in some markets and others, but if it's easier to find sellers in one market, then it's easier and it's harder to find buyers at the same time.

Right. So they kind of balance each other's out. What do you think about that? Well, I brought it up for two reasons. First thing is most people think this is a really tough market because they're paying attention to retail news. Yes. And us as real estate investors don't really work in the retail too often. I mean, we can if the market shifts, but in a strong seller's market, it can be really tough

to find deals there. So I could consider a tough market as a real estate investor if you're shopping retail, right? Not to say that there's not possibility and potential out there, but it's tougher. The other part, just because of the time that we're in, you know, we're coming out, God willing, out of this pandemic shortly. And, you know, there's a lot of people surprisingly did extremely well. the household net worth like surged, people paid down their debt, credit scores went up. There's a lot of people in much better positions right now than they were before the pandemic, weirdly.

But it did leave a bunch of carnage behind as well. And there's a lot of people really hurting. And a lot of those people, perhaps more than normal times, a lot of those people own property. And you had mentioned earlier, you know, you're always looking for the difference between what the sellers that want to sell and the sellers that need to sell. And so I'm just like, block out the retail stuff and just focus on that you're looking for people, property owners with problems. And you're the solution provider. You're there to help them out of their situation.

They've got bigger fish to fry in their world right now than getting full price using a real estate agent for their house. And I know you got a giveaway for everybody today. And I'll give you the opportunity to let everyone know how to get that. But I was looking through it. And it was really well put together. I really liked what you did. You're talking about the report I did called my five top. strategies for finding deals in 20. Correct. Correct. So you put some good stats in there.

And a lot of those stats I was familiar with. I've shared a lot of those stats here on the show. And it really builds a compelling case that this market probably is not going to crash anytime soon. But there was one page in there that showed why sellers want to sell. I was just going to bring that up. Okay. Good. We're on the same wavelength. And it was just it was a higher number that we typically factor in of how many people in the market need to sell. That number is actually greater right now in most situations or most current normal markets. This is from Realtor.com. So the National Association of Realtors does these do these things of why do you need to,

they ask sellers and survey sellers, why do you need to sell your house? And 7% of sellers said, I need the money ASAP. Okay. So here it is my point. My 5% to 10% of all home sellers are always going to be motivated to sell quickly. end with urgency. And 7% said, I need to sell ASAP. 15% say, I need a less expensive home. What does that mean? They're in too much. The property is too expensive for them, right? Yeah. 5% said, I bought something in a hurry and it's not right for me. The other people say, these are motivating reasons why a seller

would want to sell a house sooner rather than later. 28% say if someone would handle all the logistics for me of buying and selling the home at the same time. Somebody would say, I need to sell quickly because I don't have to prepare my home for the home sale. And 21% would say if I didn't have to have any home showings. So here's the thing. If you know, in a hot market, people don't want to go through the hassles, even with a realtor. They don't want to go through the hassle of preparing the home to sell and going through

the hassle of showing the home, keeping it clean all the time, leaving when the, when the buyers are coming in. Those are much higher numbers than I would have expected to see. Oh, yeah. And particularly right now, I mean, it might be a sign of the times and what I kind of touched on earlier. You know, we all kind of suspect. We think we know what everyone's thinking right now. And, you know, and we know people like us, our friends and family. And, you know, we know their situation. But we really don't know what the rest of the world is doing or how everyone else is living out there and what their circumstances are. And I just thought those are really interesting numbers. I mean, that's, if you go back to that and you just added all three of those together, Joe,

I mean, that's more than half. Yeah, you take the 28%, the 25% and the 71%. That's like almost three quarters, right? Well, I think what it is is like in the market that have a level of motivation that's more than just, you know, going through the traditional means. Well, yeah, I think when they did the survey, they allowed people to make more than one selection. Right. So these were. Okay.

Well, that would make sense. But still, that's a good 25% there. Mm-hmm. Yeah. Yeah. At least. Yeah. So there's a greater than I would expect.

There's a lot of things, you know, and life still happens even in a lot of. a hot market, right? You still have hoarders. I have a friend who just bought a house from a hoarder. Divorces. There's still death, job loss, job transfers. Sellers have two mortgage payments. There's tired landlords. I mean, my goodness, have you heard the just recently it was in the news that the dog kennels who take dogs, they have seen a huge increase in dogs coming because of the eviction moratorium being lifted. A lot of tenants are now moving out and they have to get rid of their dogs, which is kind of sad. Interesting. But tenants are late. Properties are trash. The tenant hasn't paid rent in 14 months in a year

and a half, two years. Termite still happen. Fire damage and mold still happens. No matter what, doesn't matter what condition the property is in or what the market's doing. I mean, so the house just needs too much work. Essentially, ready to sell. Yeah, just life is continuing to happen to people, right? And no one is immune to life's adversities. It's interesting that you brought up to eviction moratorium because I just, we've a deep dive into those numbers here just recently. And I don't know if that's going to have much impact on the housing market. What do you think?

It's weird. I hear different things, man. I hear people that say eviction moratoriums hasn't been a big deal for me and my properties, right? And then I hear stories of other people that are like, especially in the lower income ones, are like, yeah, man, 40% of my tenants have not paid rent in over a year. And how do you survive that? I have no idea what they're doing.

So sometimes I see like a lot of times if it's in the news, they're probably overreacting and maybe it's already happened. So it's kind of hard to say here's the thing. When COVID started early 2020, right, the year and a half ago, and I thought we were going to go into a huge recession. I wrote a book called recession proof real estate investing, you know, and I thought we were going to, the market was going to crash. Everybody's predicting doom and gloom and none of it happened. So here's, I think one thing we can predict is it's impossible to predict what's going to happen in the market. So whether this eviction moratorium has a negative impact or being lifted has a positive impact, I don't know. It's not changing anything that I'm doing.

I'm still targeting tired landlords. That's for years ever since I started. That's been my favorite list, tired landlords. There will always be tired landlords that want to sell that can't or just are tired of having tenants. Right. And if you own a lot of rental property, if you're not a tired landlord now, I promise you, you will be on at least one of your properties sometime in the next year. Right. Every landlord I've ever talked to has at least that one property they would just love to get rid of. They don't care. They will just give it away at a loss if they could. I was trying to point something out here and the sharing didn't quite work.

So I was trying to share my screen here. And yes, I want to share the screen. and then I want to go over to a window. Oh, it's a Chrome tab. There, that's what I did wrong. Okay, got it. All right. You see that? Yeah.

Okay. So is that shown up in the feed? Oh, it is. Okay, there you go. Yeah, yeah. Perfect. All right. So this is the National Department,

multifamily something housing tracker, rent payment tracker. So they showed August 1st through the 6th of 2021, 80% of rent payments were made. And then in July, 94.9% of rent payments were made. And then in July, 94.9% of rent payments were made. So that's like a big difference, right? And that's kind of what you might see reported in the news. They take those numbers and run with them.

That's like a 15% difference. But if you look down and you look at the full month results. So this red line represents the payments that are made through the first through the sixth. And we can look, say, if we just looked at July, 2021, so 76.5% of rents were made through the sixth. If we go down to 2020, really no difference. 77%. We go to 2019, no big significant difference there, 79%. But if you, so that's by the sixth of the month.

But if you look by the end of the month, we've got 94.9% so 95% this year, 95.7% last year and 96.6% the year before that pre-pandemic. Yeah. So that's interesting. It's not as big of a drop as you would think you'd hear about in the news. No, it's essentially the same because I mean, it goes up and down here, up and down here, up and down there. And there's no correlation to whether this was a pandemic year or not. And so that's why I kind of question, I asked you the question, do you think this is actually going to impact the housing market? Because, you know, there's 20% of the people that are always late on their payments, right? But 95% of them always come clean and come current with their rent by the end of the month.

And that's always the number, whether that's a pandemic or not. And if we look at low income housing, I've owned a bunch of low income housing. And I don't own very much of it anymore. for that reason alone. And that was five, six years before the pre- or before the pandemic. Yeah, exactly. You know, here's the thing. I think the only people that are worried about it are the rookies.

Mm-hmm. You know what I mean? The people that have been in the business for a long time, the seasoned, gristled veterans in real estate, they've been through so many cycles. They've heard it and seen it before. Nothing's new. The fundamentals don't change, right? And for you and me, it's marketing.

It's talking to sellers. It's making offers. Those are the fundamentals. It doesn't change. I don't care what's going on in the news, right? I'm still plugging away, still doing my marketing, still talking to sellers, still making offers, still following up. This business is so simple. Let's stop complicating it.

Yep. Let's stop freaking out about what's going on in the world and the news. And I think we just need to take a little pill of calm down and relax and start. Let's make some money. Let's do some deals. That's great advice. So you've got this great new report that you just released that you're giving away. So tell us a little bit about it and why you put it together and how they can get it.

I hear this. Oh, it's so hard to find deals. And I thought, well, you know what? Let's talk about five strategies for finding deals, the things that I'm finding that's working really well for me in the market in finding deals for me and my students. And so I just kind of walked through some stats of, you know, obviously prices are going up. And you can see all these stats, which is interesting, but you can also skip this if you You may not need convincing.

I love this picture from the Wall Street Journal. I don't know if you can see that. But they're showing this house, right? It's open house state and there's this line of people. And that picture kind of says at all we've been seeing for the last year. And you think, man, there's no inventory. There's no price. There's no houses there.

But then I walk through in here, a bunch of articles, reasons why sellers need to sell. Okay. And we're getting to this. We're still doing deals. And here's something. market stats of investors are still buying homes even in this hot one of the hottest markets you've ever seen and these are stats that i got from i think list source dot com and i got some things from the wall street journal here but these are market these are investor transactions in the last year okay

31.4 of all the transactions in st louis in the last year were with investors in memphis 49 percent indianapolis 21 percent denver 20 nashville one of the hot is most difficult markets in the country, 33% of the transactions there were done with investors. San Diego, lower, obviously, it's expensive. But, you know, East Coast, West Coast, in the middle of America, on average 32 across the nation are investor transactions in the last year. And there are still old listings. I would people say all the time, like, all you got to do is stick a sign in the yard and your property is going to sell like crazy. You're going to get multiple offers in a day. Right. Not true. Why then if you went to register,

Finn and I did some examples here where I went to St. Louis. I looked for homes that have been listed on the market over 60 days and there were 449 properties on the market over 60 days. And I was excluding real expensive homes and new construction. In San Diego, there was 151 homes on the market. Nashville, there were 135 homes. And this was when I did this report, maybe four or five months ago, right in the spring, when the things were really, really picking up, even in Nashville in the hottest market.

One of the hottest in the country, tons of people are moving there. There are still 135 homes that have been on the market over 60 days. Denver 139. Atlanta, 968. Crazy. Now, it all depends, and this is on Redfin, go look it up yourself. It depends on how far in you are zoomed out or not. I tried to remove new construction because sometimes they list new construction homes before they're even built.

Dallas had 717, Philadelphia, 1400. Now, if I'm looking at this, like, I wonder what a good market would be. Maybe I could target Philadelphia. There are a ton of, especially, this is what I love Matt about creative financing. What if you targeted all of those homes that have been on the market over 60 days in Philadelphia and sent the owners a letter saying, hey, if I could get you your asking price of $495,000, would you be willing to sell it with owner financing or lease purchase? Okay. And there's also ways, and I teach this in like stuff where like you can download these lists from Redfin, upload them to PropStream and append owner data on these things.

So I could take those 1,400 homes and find the 700 of them that are free and clear. And I can send blind owner financing offers to the sellers. You know they want to sell it because it's actively listed for sale. And all one third of all the homes in the United States are free and clear, which always blows me away whenever I think about that. like they have no mortgage how long ago did you get that because i've known that number for a while i wonder if that's shifted over the last few years i get it from the a long time ago from the u.s census bureau yeah um maybe it's down a little bit i don't know i would think it might be more but here's the thing i pulled a list in my county st louis county um there are i found 400 4600 homeowners that are over the age of 65 live in the house that they've owned over 30 years and they

own it free and clear there you go all right that's huge you know what that means that means that's a house where they're going to be moving soon. And this is a house that probably has a lot of deferred maintenance. They probably have not updated that kitchen in 20, 30 years. It's going to need a lot of work. There's a lot of junk in the house. They're going to have to get rid of it. And that's just my counting, 4,600. And nobody's targeting those sellers. It's a great one. I mean, because you just previously showed one of the reasons for selling is to downsize. Yeah. There's your downsizers right there. And they own it free and clear. And as you're in that age bracket, you know, that monthly income is really important to you.

And those are ideal situations for creative financing. What are you going to do, Mr. Seller, with the money when I buy your house? Correct. I don't stick it into savings again. Well, how much does that earn you? I'm just curious. You don't have to tell me, but like, you know, there's probably not much. Well, what if I offered, if they're going to get 1% in a CD or something, what if I offered them

3% on their money? Don't say 3%. What if I triple that? what they would want. What if I tripled that? Yeah. It sounds much more enticing. Right, right. Because they're probably not going to get the one percent. That's why you don't want to. So I'm just going to tease this, but the rest of the report, I go through the five, my five, five favorite strategies for finding these, um, these deals. And by the way, when somebody gets this report, they're going to get the video of me walking through this and actually showing it.

Sweet. Because I have a video of me teaching this stuff and showing, but my number one, um, favorite are realtors. contacting realtors of listed properties. You may think this is crazy, but it's working really, really well right now. So you can contact realtors of properties that just hit the market, but I like to target ones that have been in the market at least 30 days. Because if the market is so hot,

there shouldn't be any properties on the market over 30 days. But if there is one, something's wrong. It maybe needs too much work and it's just overpriced. Right? So the seller is not motivated yet. What if I contact that seller? What if you could download, by the way, all of the realtors of those properties and send them a simple email that, you know,

there's, I have tools that I use where I can send out hundreds of emails at one time without needing to do the, I don't know what you call it. The double opt in or something. Double opt in or, you know, they have to have, you don't have to have the unsubscribe link and all. It sends it from my inbox or my Gmail. Anyway, I say, listen, I'm an investor. I saw your property here at 1, 2, 3 Main Street.

I'm just wondering, I'd like to make an offer on it, but it looks like they're maybe asking a little too much for it. How are they negotiable on their price is one thing I might say. I might say something like, and I can have my virtual assistants do this. You know, what if I could offer them, whatever in a formula, it's like 75% of list price or 50% of list price. What if I could offer them this, do you think they would take it? And I might attach a proof of funds letters or something like that. The other thing I like to do is in my emails, I'll send, if it's a nicer home that doesn't need any work, I won't send a low ball cash offer. If it's a rehab property that needs work, I'll send a low ball cash offer.

But if it's a nicer house, I might say something like, you know, if I can get them their price, do you think they would consider something creative like owner financing or lease purchase? And you send that out. It's amazing how many realtors will respond back, semi-positive. Like, you know what? Maybe I don't know. That's a good question. Let me ask them. Yeah.

And so then you can start to follow up with that realtor. You can call them up and talk to them. All right. My other favorite source of leads, I don't want to go too far to number three. Okay, here we go. That's a secret. Yeah, I'm going to make the three through five. But dead leads.

Oh my gosh. I love, love, love dead leads. And I've loved dead leads for a long time. And there's a lot of other investors out there that have done marketing. They're thrown away leads. that don't have enough equity or maybe they're not motivated yet and those leads are just sitting in a wood pile. And everybody who's doing successful deals, like they know they should be following up with their old leads, but they're not. And so I love old leads.

And some, if you're new, you know, find somebody else who's got old leads and say, listen, if you let me follow up with your old leads, I'll keep them in your CRM. Just let me call them and we can split the deal, 50-50, you know, I'll use your contracts or whatever. And a lot of other investors themselves have a lot of old leads, right? So just call them, follow up with them, send them a letter. You should be sending a letter every single month to your old leads. And people aren't doing that. Right. And I use FreedomSoft.

I love FreedomSoft. There's a real simple way where you can upload old leads and put them into a workflow automation that starts following up with them. So, yeah. Sweet. All right. So tell them how to get it, Joe. Keep taking a new suspense.

So I have a website, Do Deals with Joe. And can you see my screen? Oh, yeah, you can. Okay. I think it's report. Yes. Okay. Here it is.

Do Dealswithjo.com slash report. All right. There it is. Do Deals withjo.com slash report. And it takes you here. Put in your email. And, yeah, I'll send you the report. And it includes the videos and training of me walking through this workbook.

Super job, Joe. It's really, really well done. I was impressed. That's nice. Thank you. Appreciate it. So it was very generous. So go to do deals with joe.com for slash report and you grab that. And then Joe, it's always a pleasure to see you and see you soon. Thank you, Matt. Appreciate it. Go Cardinals. Go blue. All righty. Hey, by right, look at this here. What's that here? Here we go.

Oh, boy, here you go. The Dodgers are a half game behind the Giants right now. Okay. What are the Cardinals? What's their? Oh, that's doing so good. We're only 12 and a half games behind the stupid brewers. Five-15.

Oh, we're in the 632. We're in a top division. We're 632 and we're six-place. Yeah. Holy smoke. I'm not. In the second place? I'm not envies.

Now, here's the wild card race. Okay. Cardinals, we're fighting there with the Phillies two and a half games out of the wild card race. Mm-hmm. The Dodgers for sure are going to get in the playoffs. Oh, yeah, they're 13 games ahead. You might be the division leader, but at the worst case, you're going to be in the wildcard. Yeah, there's no one even close for that.

It's crazy is what I love are the Cubs are way down here, you know. And this is interesting, isn't it? The White Sox are doing really well. But the Yankees and the... I saw that the Cubs traded Hobby Baez. I was a little bit surprised at that one. Yeah, he's playing with New York. New York Mets right now.

Yeah. And you should go to YouTube and do a search for Javi Baez because he's been, he hit a home run. And the Mets fans are just brutal fans, right? Right. So they've been booing the Mets. Well, Javi Baez hit a home run. He's running the bases and he's going like this to the fans. I saw that.

He's going to the fans. So they're all mad at him and he's probably not going to come back next year. While you're there, might as well search Javier highlights too, because he's one of the most remarkable baseball players and talented. Why do you like it so much? I just think he's fun to watch. He's amazing. He's amazing in the field.

He's amazing at bat. He's just really, really good. Mr. Baseball. Did you see that video that popped up? Oh, because we're live right now. We're live right now. Yeah, buddy. Anyway, that's going to wrap up the show.

Hey, Keith, good to see you. I need to get started doing this, but now how to do it while working overtime on my full-time job, plus working a second day job just to try to catch up from last year. You know what? I mean, time management is an issue for everybody, and we all just choose to do what's most important to us. And, you know, if you have to take care of certain priorities and in order to keep a roof over your head and keep your family fed or even just yourself fed, you know, you've got to do that first and then just carve out that time on the side to go ahead and engage in the money-making activities and just stay focused on those. Be careful going down the rabbit hole of clicking around and looking at properties and stuff like that. Well, here's something to.

Let me just say it again and reach. Sure. If you don't have any money and you're broke, the best thing you could do is call old leads. Your own old leads or other wholesalers, investors, old leads. There's such a huge gold mine there. Totally. And get Matt's training on how to talk to sellers, how to ask questions and learn what to say to them. Right.

Here's the bottom line. I'm sorry, you keep interrupting. If you're not on the phone, you're not making money. That's right. That's it. So get on the phone. Yep, for sure. All right.

Matt, how would you go about finding tired landlords with two to three rentals who no longer want to landlord due to not receiving rent? Look up absentee owners and cross-reference that with pre-foreclosure or notices a default. And then you can also look up and you can sort those through just county records of how many properties they own. You can do that over at list source pretty easily. Joe and Matt got your system, but have problems.

Bobby, no problems. Right? Only opportunities. Only opportunities. Anyway, we've been, we're a little bit over time, so we're going to go ahead and wrap this up. We'll be back. We'll do it again for sure, Joe.

You'll come back. Yeah, for sure, man. You'll get you on my show too. Awesome. Please stand by. We've got overhead to pay. We'll be right back. Canada can be a global leader in reducing the harm caused by smoking,

but it requires actionable steps. Now is the time to modernize Canadian laws, so that adult smokers have information and access to better alternatives. By doing so, we can create lasting change. If you don't smoke, don't start. If you smoke, quit. If you don't quit, change. Visit unsmoke.ca.

Mainstream media is ripping us apart. This is news to bring us together and make some money in the process. Let's start with some good news, bad news. First, the bad news. One of the largest and certainly the most divisive of all the pandemic era relief programs ended this week. Almost 3 million people will lose their extra $300 a week and benefits provided by the federal government.

25 states had already wound down the program over the summer, arguing it was keeping potential workers on the sidelines and fueling a historic labor shortage. The good news is the number of job openings in the U.S. hit a record high for a fifth straight month in July. So the total number of job openings rose by 749,000 to a number of job openings to a seasonally adjusted 10.934 million at the end of July, according to the Labor Department's job opening and labor turnover survey. There are plenty of job openings for those that want,

one, want being the operative word, as the number of people applying for unemployment has dropped again. The Department of Labor reported that 340,000 people filed for state claims last week. That's a decline of 14,000 from the week before, and the lowest it's been since the start, of the pandemic. Continuing claims are also down to a total of 2.75 million, and the total for all eight state and federal programs is 12.2 million. That's down from 30 million at the peak of the pandemic. So we have just about as many jobs as we have people without jobs. That's great news. Apple's spilling the details on its iPhone 13 lineup, but it isn't expected to feature major changes like last year's design overhaul and 5G upgrade. But content creators also,

known everyone on Instagram should be stoked. Some rumor updates. A new A15 chip for faster browsing, scrolling, etc. Professional editor-level photo and video resolution. The despised black bar or notch at the top of the previous iPhone models. Screens will get smaller and a portrait mode-like feature will come to video recording so you can blur out any evidence that your fancy restaurant pick was taken at the Cheesecake Factory. Apple could also use the event to announce new AirPods, Apple watches, and streaming content or devices for Apple TV Plus. Despite difficult times for Americans' finances during the coronavirus pandemic, average credit scores have continued to climb to a 13-year high.

According to Experienced 12th annual state of credit report, the average vantage score climbed from 68 in 2020 to 695 in 2021, and the median vantage score climbed from 697 in 2020 to 701 in 2021. The score improvements were supported by, fewer missed payments, lower credit utilization rates, reduced card balances, and total debt levels year over year, and prior to the pandemic's arrival. So the U.S. economy is not at risk of a recession or a massive slowdown, according to Federated Hermannies portfolio manager Steve Chiavaroni. He argued Americans are sitting on a ton of cash and that consumer spending will

keep the economy afloat. Joe Rogan blasts, media lies about his COVID treatment, podcast host Joe Rogan wondered if he should sue CNN after the liberal network accused him of distributing misinformation after taking ivermectin, an antiparacetic drug that has recently prompted federal health warnings during his battle with COVID-19. Rogan shared with his listeners last week that he had contracted the coronavirus and used several drugs in his treatment, including ivermectin, a controversial admission after the Food and Drug Administration and the Center for Disease Control and Prevention urged consumers against the use of ivermectin. Ivermectin as treatment for COVID-19.

Rogan said the drug had been prescribed by his doctor, and he credited it with helping his recovery. But CNN medical analyst, Dr. Jonathan Reiner, suggested that Rogan was leading his listeners astray. He's not helping matters when he promotes this sort of nonsense therapeutic mix, Reiner said, adding that ivermectin doesn't work. CNN anchor Jim Acosta also mentioned Rogan by name when he asked his guest Dr. Anthony Fauci to respond to COVID disinformation on Sunday. Rogan pushed back on CNN's narrative, wondering if he had to take the network to court.

Bro, do I have to sue CNN? Rogan said Wednesday. They're making shit up. They are saying, I'm taking horse dewormer. I literally got it from a doctor. It's an American company. They won the Nobel Prize in 2015 for use inhuman beings. And CNN is saying I'm taking horse dewormer.

They must know that is a lie. You know, if the internet says it, who cares, Rogan added? But CNN is saying it. Jim Acosta. Rogan mused that haters wanted him to have a rough case of COVID so he would learn his lesson. Because I wasn't scared during their entire pandemic, what they would like is that when I did get sick, that I was really sick. Because I wasn't scared during the entire pandemic, what they would like is that when I did get sick, that I was really sick and became really scared and learned my lesson, he said. Instead, it is the worst case scenario for them.

I bounce back about as quick as I can. Some media analysts appeared to agree with Rogan's assessment. Lying is fine as long as it's done to malign people their audience hates, journalist Glenn Greenwald responded. That is 100% the rule at liberal corporate outlets. CNN knows this. Joe Rogan's earnest shock that Jim Acosta is lying about him is kind of endearing. Several other prominent figures, including Texas Senator Ted Cruz,

reacted to Rogan's warning. The media was ripped further this week after sharing a false report about Oklahoma hospitals being overwhelmed by patients who had overdosed on ivermectin. The story was originally reported at Oklahoma's K-F-O-R-TV news and quoted testimony from Dr. Jason Mechalia. The Northeastern hospital system would later issue a statement regarding his association with the hospitals in question, revealing that Mechalia had not worked at the location for two months nor treated any ivermectin doses. The Rolling Stone, one of several outlets to report or share the story, issued an quote unquote update following the bombshell clarification, which many readers suggested

should have been updated to a retraction. On the bright side, as of September 8th, COVID-19 cases might have peaked, per the CDC. According to the CDC on vaccinations, total doses administered 376,955,132. As of a week ago, 371,280,129. average doses last week, 0.81 million per day. This just in, the end of forbearance programs won't result in a housing crash. It was the forbearance data that crashed, not the housing market. I've been saying this for months, almost the year now, and mainstream media is finally catching up.

Home prices recorded a third month of record high price growth. The latest S&P Core Logic, Kishiller, Home Price Index, is up 18.6% in June year over year. Pending home sales dipped a little in July. The National Association of Realtors says they were down 1.8%. National Association of Realtors' chief economist Lawrence Yun says, the market may be starting to cool slightly, but at the moment, there is not enough supply to match the demand. Mortgage rates, they're holding steady.

Freddie Macs says the 30-year fixed-rate mortgage stayed the same this last week at 2.87%. The 15-year was up one basis point to 2.18%. New rules on foreclosure bidding process. Owner occupants are getting more time to, buy foreclosures before investors are allowed to bid on them. The Federal Housing Finance Agency announced that it is extending the amount of time that owners have to view and buy foreclosures from 20 days to 30 days. It's part of the first look program first launched in 2009 to help promote owner occupancy and stabilized neighborhoods. The housing market needs another 1.5 million

for sale homes to help fill the inventory gap. Analysts at Morgan Stanley say that would get us back to a housing market that's quote unquote normal. That applies to both the recent sale market and the building market. Morgan Stanley strategists say that inventory is lagging about three years behind demand, and the number of homes needed could be as high as five million, depending on how you add it all up. Many renters hope to someday buy their homes, but according to a lending tree survey, half of them don't think that will ever happen. Lending tree surveyed 2,500 people and 83% said they'd prefer to own their own homes, but 48% said they have doubts about their ability to buy. So what's keeping them from buying a home? Well,

more than half said they can't afford a down payment. About a third said home prices are too high or their credit scores are not good enough. A quarter of them said they don't have a stable job right now or they are not sure where to settle down. Some of the other reasons include student loan debt and plans to get married first. It's not a passing bad. It's the future of money. What happened this week in cryptocurrency? The CEO of blockchain forensics firm, chain analysis is optimistic that the Bitcoin price will rise above $100,000 before the end of 2021. In a Bloomberg interview, Michael Groniger, who is also the co-founder of cryptocurrency Exchange Cracken, asserted that Bitcoin and the cryptocurrency market in general are still in a

bull run state. I think we are all still in the bull market. I think we can see above a $100,000 Bitcoin price by the end of the year. So I would be bullish on that as well. Long term, I would probably usually say the moon is the limit, but we can go beyond that as well. Cryptocurrencies gain legal status in Texas as new laws take effect. Texas becomes the latest U.S. state to adopt crypto and blockchain technology under its commercial law. Micro Strategy chief executive Michael Saylor predicts hundreds of trillions of dollars worth of investments will flow into Bitcoin, which can push the Bitcoin price as to high as

$14 million per coin. Sailor ballparks that between $100 trillion and $300 trillion could seek a store of value in Bitcoin, and that's just in today's money. El Salvador President Naib Buckeli confirmed Monday that his government has purchased its first 400 Bitcoin ahead of the Tuesday rollout of a new law set to make the cryptocurrency legal tender. On Tuesday, the day it became legal tender in El Salvador, they bought the dip as Bitcoin price flash crashes to 42,900. 700, Salvadorian president, Naibu Keli, confirmed that his government bought the dip by

snatching up 150 Bitcoin during the depths of the sell-off. Crypto is continuing to go mainstream and the likes of PayPal and Snoop Dog are leading the way. So consider cryptocurrency as a precocious child of school age. There's a great deal of perceptible potential that many can acknowledge. But the child needs nurturing, encouragement, and an opportunity to flourish in an increasingly competitive environment. The child is young and fledgling, but with the right support system and education, the growth potential is boundless. Signs of Bitcoin adoption are everywhere, whether it is Morgan Stanley scooping up more shares of the grayscale Bitcoin Trust, Amazon, hiring a blockchain and digital currency expert, or PayPal expanding its crypto footprint into the UK. It is clear that Bitcoin is closer to becoming a household name.

Nonetheless, if you ask one market analyst, it is still the very early innings for, for the asset class, Willy Wu and on-chain analyst in a tweet illustrated the projected worldwide Bitcoin users expressed in internet years. So right now, in 2021, we are where we were with the internet in 1997, but the blockchain and cryptocurrency is growing much faster than the internet as of 2025. Right now in 2021, we are where we were with the internet in 1997, but the blockchain and cryptocurrency, see, it's growing much faster than the internet did. And come 2025, we'll be equivalent to post internet bubble popping in the year of 2005. That rate of development and adoption is twice as fast as the internet.

Bottom line, we're still very, very early, but we won't be for long. So get in where you fit in. And that wraps up the epic show. If you found this episode valuable, who else do you know that might too? There's a good chance that you do know someone else who would. And when their name comes to mind, please share with them and ask them to click the subscribe button when they get here, and I'll take great care of them. God loves you, and so do I. Health, peace, and blessings, and success to you. I'm Matt Terrio.

Y'all. Yeah, yeah, we got the cash flow. You didn't know home, we got the cash flow. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.