The Iced Coffee Hour - Confronting Ryan Pineda: Tenant Didn’t Pay Rent For 3 YEARS

Episode Date: May 20, 2021

Save money on your insurance at https://www.policygenius.com Go check out Landlord Go here: http://bit.ly/TheIcedCoffeeHour​ and receive in-game cash and a bundle pack with the link. Ryans Real Estate Programs: https://ryanpineda.teachable.com/?aff... Ryan Pineda joins us on this weeks episode of the Iced Coffee Hour. Ryan is a real estate expert based out of Las Vegas, NV. In this episode we discuss the future of the real estate market, tips on flipping real estate, if Jack should buy a home, crypto currencies and more. Add us on Instagram:  https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan GET YOUR FREE STOCK WORTH UP TO $50 ON PUBLIC & SEE MY STOCK TRADES: http://www.public.com/graham  Join the 2x weekly mentorship group: https://tinyurl.com/yaexko4o The Equipment used: https://tinyurl.com/y78py5g2 Audio Equipment Used In Podcast: Rode NT1, Rodecaster Pro The YouTube Creator Academy:   Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF  For Podcast Inquiries, please contact [e-mail] *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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My name's Ryan Panetta, and we've made approximately $55,818. Wow, that was really good. That was fantastic. Great job, Brian. It's almost like you've done this before. Yeah, yeah, it was only like the fifth try too. Speaking of which, you were on episode 24, the 24th ever episode of the iced coffee hour. Coming back on the 50th ever episode of the iced coffee hour,

yeah, I'd have you back on. Dude, I'm excited you guys invited. me again, man. We got to talk about real estates because I feel like when it comes to, especially Las Vegas market, you're the one who I would really look to for advice on what's going on with the real estate market here, what you're seeing in terms of pricing,

real estate trends, rental prices, how to make money, how to even buy something in this market, and Jack, he's talking my ear off now about trying to buy his first property. So I think this would be a great introduction to teach anybody how to buy their first rental property, how to even get their first property to begin with

in such a competitive market with interest rates, So low, you're our guy. Well, I'm glad you guys invited me. And Jack, you know, Jack was at my office, what was that, a couple weeks ago? Two weeks ago. And he was like, man, can you help me get my first rental property or my first property in general? And I think that was the only reason you invited me back.

You just, no, no, no, we're happy to have you. You wanted advice, but he didn't want to pay you for it. I know. It's good. You know, this is fine. So, yeah, man, it's crazy right now, the market. And if you're just getting started trying to buy your food. first house, like, it's never been harder. And that's the tough part about it is there's no inventory,

like literally anywhere, you know, everything's a bidding war. And you're going to pay, you know, top dollar right now. And I think in a lot of places, rents haven't caught up to the appreciation. You know, typically rents are going to lag from the pricing. So we're experiencing so much appreciation and rents like haven't caught up yet. So it's like tough to pencil the numbers in as a rental unless you're in like a Midwest market or you're putting a lot of money down on the house and trying to get your payment lower. So it's much more difficult today than ever before. I'll say that. What year did you start buying real estate? I bought my first house back in 2011. I was same year. Same year as me. Man to be. Yeah. So I was 22 at the time right around your age two. It's 21. And yeah,

I bought it with an FHA loan, which I highly recommend people do. If you're they're just starting like low down payment as possible and dude i bought it for a hundred and sixty grand literally like five minutes from here and if you can imagine for 160 five minutes from here and uh it's worth probably about four or five hundred now wow yep are you renting it right now new i sold it i sold it like two years later yeah and what do you do did you just use that profit by another place yeah yeah so yeah i had to keep turning my money over and over to continue to build up know if I ever kept a rental, I wouldn't have been able to live. The only way I made money was

by flipping houses and just continuing, that was my income. Got it. What'd you end up selling it for? I sold it two years later for 220, like right around there. We put a little bit of money into it, not a lot, but, and even then, it wasn't even like I got a great deal. It was just appreciation had happened. So I think that was cool. I ended up rolling that profit into my next house, which I bought for, where I buy that one for, 170, and I sold that one two years later for 240, you know, kind of the same deal again, appreciation. And I've kind of just, every two years,

have gone to a new primary because, you know, you get tax-free capital gains. And, you know, luckily my income was increasing and, you know, I got a family now, so we had to keep getting a bigger home. So, yeah, that's kind of how I got started. And I think it's a great way for other people to get started is, you know, buying a personal residence just with an FHA loan.

Do you, oh, do you keep rentals now? Yeah. How many? I've got over 30. How do you do it? I am like in awe at the schedules of some people that we've had on the podcast. Like between your schedule, meet Kevin's schedule, it blows my mind how you can get so much done. 30 rental properties.

Yeah. Yeah, we probably have, I have about 10 units. in Big Bear, California, that we Airbnb. And then we have a 10-unit apartment here in Vegas, which I've done a YouTube video on. Super cool how we bought that with seller financing. I got a $300,000 apartment with $16,000 down and no payments for three years.

It was a crazy deal. And then the other 10 rentals are like single families or condos here in Vegas. Who would do that deal? $16,000. down. No payments on three years. Who would do that? So I'll give you the five minute story of how it happens. So we are cold calling sellers and stuff trying to get marketing or trying to find deals. This seller picks up. He's like, hey, I don't want to sell this house I have, but I own this 10 unit

apartment. And at the time, this was three years ago. I didn't know anything about apartment investing and all that. And I go, we'll buy an apartment. Like, you know, like if the deal's right, we'll figure it out. So we go there. It's in a really rough part of town here in Vegas, kind of where we were last night. And he's like, hey, you know, I haven't gotten rent in three years.

And I said, okay, that's not good, but it's also a sign of motivation. And so we go there and we see it's just like really bad. I mean, gang banging, like selling guns and stuff, like legit. And we also noticed that one of the units burnt down. Like he didn't even know. He didn't know that one of the units? No, he had no idea.

How bad was it burned? Like to a crisp. It was gun. Done. Everything inside burnt to a crisp. I have it. I'll show you a picture after. So I end up calling him.

I'm like, hey man, this is a bad situation. Like, did you know that a unit's burned down? He's like, what? Couldn't believe it. Out of state owner in California. And, you know, we just start talking and negotiating. And at the time, I still didn't really know what it was worth. I was also like, hey, I can't even get in the units.

I don't know how much renovation it needs. Like, I have to get it for a crazy deal. So I end up just offer him $200 grand. I'm like, I'll give you $200, whatever. He's like, no, I want $400. And after like a month or two of negotiating, we finally agreed on $300, but he was going to sell or finance it. And basically my pitch was, look, you know, it's going to cost me a lot of money to fix this.

It's going to cost me a lot of time to get all these tenants out. and, you know, I have no idea the condition. And so he agreed. And basically we came to the conclusion that it was going to be beneficial for both of us to not have payments for the next three years because he hadn't been getting payments for three years already. So it's not like anything's different. And in fact, he was behind on his taxes because of that.

He hadn't paid property taxes. So I paid off all his property taxes he owed. It was 16 grand. That was where it came from. And he ended up giving me three years. to basically, you know, revitalize the place. So it took me about seven, eight months to get all the tenants out because what would happen is we'd evict one and they would move into another unit.

How? They would just squat? Yep. Then there's nothing like, I mean, obviously it's not right, but you, it sucks so bad that you have to start the whole eviction process on that unit because, you know, you evict somebody from a squatter? Even if they squat? Yeah.

How is that legal for a squatter? Who's to stop? Who's to not like come into one of my properties just overnight and be like, I live here, here. There's a least agreement. I feel like at that you just call the cops kick them out. I mean, there are situations like on our flips, they're all vacant, right? So if somebody breaks in, we do do that. But these people did live there in that apartment for, you know, however long they did.

Like, they did have a right to live there. But not that unit. Not that unit. Are there any, like, legal repercussions on their end for doing that? I mean, they got nothing to lose. like it just didn't they didn't care but long story short like we had to keep kicking these people out and finally after like you know seven eight months we finally got everyone out and we started renovating it because we didn't want to renovate a unit and then have somebody move into it uh that's not supposed to be

there so we wanted to get everyone out first so it wasn't making money for at least a year which is why i was like we need time i'm not paying you you know because i got to do all the work that you didn't do but we ended up spending about 200 grand getting it fixed up it makes 7,000 a month now and gross um i'm going to make my first payment this july for 1250 gosh how does this guy go three years though without receiving any rent graham dude you would you would be surprised at how many sellers just don't care no i'm serious like they we talk to sellers every day we buy homes every week like there are so many sellers that just neglect a property for years. Like it's vacant for years.

They never even try to rent it or, you know, it's beat up. And if they just put some money into it, it would be rentable, but they don't want to do it. They just have no desire. Maybe they inherited the property. They just, they don't care. Do they just have so much money? It's just not worth their time. Is that it?

Yeah, I think a lot of sellers, if they have rentals like this, yeah, especially if they have apartments and stuff, you know that they're somewhat sophisticated. but on the single family side you just dude you'd be surprised at the things you see on the in the off market world because you don't see it like on the realtor side where you know they're they go get a realtor they list their like that's the standard stuff but off market is where you see like the realness of real estate and what's going on on the single family side i mean in everything and everything jack is interested in the single family side kind of piques my interest.

Yeah. Are you finding off-market deals right now? But first, I want to thank our sponsor, PolicyGenius. April can be an extremely busy month for all of us. Whether you're getting your taxes done, spring cleaning around the house, or getting fooled by Graham saying he's moving back to California. PolicyGenius recognizes that April can be a difficult month, so they're here to make your April a little bit better by providing fast and free insurance quotes.

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They will even compare ways to bundle your insurance, such as home and auto, to save you even more money. And if they find you a lower rate than what you have right now, they will switch you over for free. PolicyGenus can promise you that you will not leave their website feeling like a fool. it for me i've used it before and it's a great service had to policy genius.com to get started now policy genius when it comes to insurance it's nice to get it right that is where we find 90% of our deals at the moment okay yeah because when i first got my start you know i was a realtor just like you i got licensed in 2010 and i didn't start flipping houses until 2015 back in 2010 you know inventory was so high dude there was like pick your pick whatever you want it's yeah pick of the litter and

buyers were just, they had all the control because there was so much supply. 2015, things like stabilized. I still found a lot of deals on the MLS. And, you know, for me, when I find a deal, like, it's got to be at least 80% of value. Like, that's the max I'm willing to pay. And, you know, around 17, 18, the market starts to get less inventory. 18, there was really low inventory. And now we're at the point where it's like the lowest inventory in history.

Right. And so your strategy has to change. based on the market. You know, back in 2010, if I was a buyer, I'd be offering people 50 cents on the dollar because it's just,

there's so much available. Today, if you go on market, you have to offer above list and prices just keep going up. And so if you're going to succeed in my shoes, like as a flipper or even if I want to buy buying holds, I can't just overpay and build a portfolio. It doesn't work.

So we go off market now and 90% of our deals are off market. How do you do that? long us through the process. So there's a lot of ways to get off market deals. One way, the easiest way for anyone watching is just buying them from wholesalers. So wholesalers are people that lock up deals off market. They market up, you know, a little bit of money and they sell it to an end buyer. And the wholesaler doesn't ever actually buy the home.

They just sell the contract, okay? We wholesale as well. We buy from wholesalers. I've bought a lot of houses from wholesalers. They're great because they do all the work for you. You know, Jack, if let's just say my company, home run offer found you a deal or we found a deal and it was discounted right because we got it off market and we still made our spread and i was like jack you can't find a house like this on the market

but i'm going to sell it to you for you know 85 cents on the dollar would you want it yes exactly did you do that yeah we do it every day that's what i'm saying like a wholesaler is the easiest way because they're doing all the work for you you just have to have the capital ready to buy it that's what comes down to. So I think that's like the easiest step for people just getting started. But if you want to really like find off market deals, you got to start marketing yourself. And so, you know, realtors, what kind of marketing did you do as realtor, Graham? Craigslist. Okay. So Craigslist is a great way to prospect. But really like the main ways people prospect starting out, just I'll name five. Coal calling, text messaging, door knocking. People can do.

those are like the three cheapest ways. Driving for dollars, people always talk about as well. And then if you want to get more expensive, you can do direct mail. We run TV commercials here in Vegas. You can do PPC, so you just rank at the top of search.

We know that for YouTube, right? Do the same thing for, you know, if people search, sell my house, cash, sell my house now, you'll pop up, right? So you have the cheap ways of doing it, which I would assume many people here want to do, which is great. And then you have more expensive ways.

we do a combination of both. So we spend currently about 50 to 60 grand a month on all those methods to find off-market deals. Yeah, you're doing everything I hated doing as an agent. Well, but I don't do it. You don't do it. I did all of that, though. I couldn't stand it. Yeah.

Yeah, I did door knocking for like two weeks straight. And at the end of the two weeks, I wanted to quit. I was like, I can't do this anymore. Otherwise, I'm going to quit real estate. Right. I hated it that much. Same with cold calling. Did it work for you?

Door knocking, I met a few cool people. A few of them, I came back again, took pictures, but they all wanted prices that were so high. They're like, okay, I don't really want to sell, but if you bring me an offer for it, $2.5 million, then I'll sell. And the place is maybe worth like two. Right. You know, so that's who I met. Yeah, and the thing is, I just named all the ways you can do it.

I mean, you only have to be really good at one of them. It's not like you're the one having to call call every time. Like if you don't like it, it's not a big deal. So it's just really figuring out what I always teach our students is first look at your budget. Okay, your budget's going to determine how you market first and foremost. Secondly, once you have your budget, then you can start figuring out the marketing channel. But the third thing is figuring out after that basically your sales process because so many people think that, oh, if I spend money on marketing, I make money. Like it's just, I'm going to get an ROI.

I was like, no, if you can't close deals, then you will not get an ROI. You'll waste money. And so I think if you're a beginner and you are like if you want to go spend money, well, let's talk about the freeways. So if you don't have any money at all and you want to go find deals, okay, best way is door knocking. Okay. There's a lot of houses that are distressed.

You can go knock on beat up houses that you see in the neighborhood. You can go get a list. of like properties that have motivation for free. So back before, you know, the pandemic and people had foreclosures, you could go get the foreclosure list and start door knocking them and trying to buy their house before it gets foreclosed on. And that's a good strategy because obviously they need to sell or they're going to get foreclosed on.

And they don't have time to list with a realtor because it's too close. So if you knock those, you have a very high chance of getting a deal. And it's free. It's free to go door knock. but if you have a little bit of money, I would say, call it less than like $3,000 a month. If you're willing to spend less than $3,000 a month, you can get a good list, you can call it.

Since you have that list of numbers, you might as well text it as well. And there's softwares that allow you to do that very easy, all from the same spot. It's not like you're hand dialing and hand texting. I get this text probably once a week. Yep. Yeah.

They're from me. So you were telling me that you're actually in a lawsuit right now with these calls, right? Yeah. So you guys, you had told me before we started filming that, you had one of these robodialer lawyers. Yeah.

One of the top lawyers who fights that. Yeah. So basically there are people who are now like, I mean, they have Facebook groups and stuff dedicated to trying to like essentially extort marketers. You know, they're like, oh, you know,

for instance, every time you get that text, if you like tried to really go after them, I mean, you could try and hire your guy that you just had and, you know, you could try to sue them or at least send him a letter trying to extort them. Like, that's what's going on today. But for instance, like, we're talking about this lawsuit. And I can't talk in detail about it. But I guess one thing is in real estate, if you do enough deals, you're going to get lawsuits no matter what.

That's just life. But two, like this guy, he's trying to claim that we called him like 200 times. like we did not call you 200 times it's not even like realistic but his his old thing is like well each offense is like a thousand bucks so i want 200,000 dollars we're like you're out of your mind and essentially he's either trying to lump us all into the same thing you're like oh Ryan must have texted me every week this it's like it was probably a bunch of different people you know doing it um but that's just kind of like what these guys do now and And you can kind of tell because, and this is good feedback for those of you who are going to cold call to kind of help prevent future lawsuits, they're going to be fishing, you know, trying to get information.

Okay, who's your company? What's your last name? All this. What's your website? Like, and then that way they're like, all right, he called me on this day, blah, blah, blah, blah. You owe me $1,500. But couldn't it be something as simple? Don't they have to tell you first?

Take me off the list. So they have do not call list. they have other lists as well. So there's so much gray area right now with marketing, you know, because with the robodialing thing, there's some things that are legal. There are some that's not,

but they're kind of like the same thing. You know, and it's almost impossible to prove which method somebody was using. Same thing with text messaging. Right now, they're changing text messaging laws that you have to have an opt out in the text.

And so text messaging used to be really good for us because we could send out, you know a million text and you know you get the leads and all that stuff but after um now people can just opt out and so once they opt out you have to take them off your list and so the software won't even allow you to text them anymore um so the laws are always changing and um even to so think about this when you were a realtor it's actually really strict for realtors because you're not allowed to solicit like that. So like you as a realtor, you're like, hey, I want to list your house. Like, can I list your house and get an appointment? That's a solicitation. But me as the cash buyer,

when I say, Graham, I want to buy your house. I'm not soliciting. I'm not trying to sell you anything. I just want to buy your house. So it's different. It's legal. Yeah. So like one thing we'll tell our realtors too, because I own a brokerage as well is, hey, if you are going to call and do this stuff to protect yourself, to protect the brokerage, you just got to say, hey, I've got a cash buyer. who wants to buy your house. Because they really do. My agents have me. I will buy their house if we can get it for the right price.

Right. So. Yeah. Even technically a dollar. Yeah. Hey, if I get the dollar pocket, I'll buy your house.

And that makes it legal? Even if you have a dollar? Well, yeah. I mean, for the realtors, they're saying, I have a cash buyer ready to buy your house.

I mean, I will buy it. You know, it's not Mr. Beast. Have you seen his video where he gave away the houses for a dollar? Yeah. That was cool.

But, um, no, I mean, that's what it, is like you you personally don't have to have the money i mean it's like as long as you're just being transparent about what it is you want that's where i think is the best practice like for us it's like i just want to buy your house dude like just tell me yes or now yeah so if i'm looking to buy my first

like home here in las vegas first off graham says he thinks i should rent yeah i think i should buy do you have any input on that now first of all he's got to hear the arguments yeah yeah i want to hear why you think rent okay uh this would be jack's first place is first place is first time really living on his own outside of his parents. And I think given Jack's income, the money he's going to be making five years from now is going to be completely different than what he's making today in a great way. So my thinking is this. We just moved to a new state. I think it's better for him to get situated with renting a spot, getting situated with that first, really getting to know the areas where he wants to live within about a year and a

have. He's going to have a way different income profile than what he has this year. So I think whatever he buys today is going to be different than what he's going to want, probably three to four years from now. He's 22 right now. He's going to be 25, 26. The place that he's living now is going to be way different than 25, 26, what you're going to want later. So I think it's probably better right now. Rent, it's a very competitive market, get situated, see what you like and what you don't like and then buy, especially if you're going to be plunking down that money. That is my argument. That's why I think, at least for the next 12 to 18 months, Jack is better off renting.

So, Jack, I am going to disagree with Graham, and I agree that you should buy, and here's why. But first, I want to thank our sponsor today, Landlord Go. Landlord Go is a game where you can buy or sell properties in your area virtually. Here's how it works. We're going to open the app, and then we're going to click on the travel agent in the top right corner. The travel agent is a great feature that allows you to go anywhere in the world to buy properties while we're in lockdown. And I'm going to buy this and I'll also buy this because they're the same color and by buying properties of the same color, I can get additional return on my investment. Now that the buildings are mine, I can finally collect rent or even upgrade them to make more money.

Then if I want, I can list these properties in the marketplace for other people to bid on them instead of just selling it to the bank. And here is the game leaderboard, and as you can see, I'm ranked this in the United States and this in Vegas. Landlord also has this really cool AR feature where you can go around your city and search for properties in real life. Alright, so we're actually out in the wild right now, and there's a supercuts right there. I love supercuts, and that is exactly why I think they would be a perfect property to add to the portfolio. Alright, so I'm going to be using the AR feature to buy up the supercuts. You just get it in the frame, click on the tile, and then you buy as many as you can. I've just found this game is a really fun thing to do in my free time, and it's also a great way to familiarize myself with Las Vegas.

So if you want to try the game for yourself and become a virtual landlord, click the link in the description, and you will receive free in-game cash and a special bundle pack that's specific to the link in the description. Thank you so much Landlord Go for sponsoring this episode and back to the podcast. As I said in my story, I was 22 when I bought my first house just like you. I didn't know where I was going to live five years from then, but I did know that, you know, if I got a good deal, I would have no problem selling it two years from now and getting the capital gains, you know, and all the money that I make from it. So if you found a a good deal today. I would rather you buy it, live in it two years, get tax-free capital gains,

and then just upgrade, buy another house. But then it's also the maintenance. Then it's also maintaining the property and keeping it in good condition. And then figuring out, well, are you going to sell it two years from now? What if interest rates go up? What if the market goes down? I think back in 2011, 2012, when we were first starting to buy real estate, we had all the edge. We had the advantage. And we benefited from the insane appreciation of buying something 160, the next year it's worth 200 grand. You just made a whole bunch of money. Right now, we are in the most competitive time ever in the history of housing with interest rates really low, by the way. So that is, I think, in Jack's favor. But we're at a time where Jack is going to be

competing with potentially all cash offers. And I know you would take good care of Jack. I have no question about that. But from a seller's perspective, on a broad scale, if they have a cash offer or they have the potential for a quick close cash or Jack would have to go through financing, I would rather pick the cash offer. Yeah. So I think just the market in general right now. But you're looking at it from the perspective of Jack is going to pay market value or above market value, where I'm saying, yeah, I don't agree.

In fact, I don't agree in any market paying market value. That goes against everything I do. What I'm telling Jack to do is if he can find a good deal, that's 80 to 85 cents on the dollar, even 90 cents on the dollar if you're going to live there. I would rather bet that in two years, you're going to still get appreciation. Things are still going to be on. My bet is that in two years,

it will still be the way it is maybe not to this level now, but it's not like things are tanking two years from now. Your house will not be worth less than it is today. I can, like, I mean, nobody has a crystal ball, but in hopefully two years from now, is somebody watching this, I don't look really stupid. But I would, I would, I would be very surprised if it was worth less.

My only argument to that is that you buying today 90 cents on the dollar is you buying up 6% from a year ago. You're still buying higher than a year. And that's not to say that like, oh, you know, prices, you're buying, you know, higher than a year that's bad. I just think right now in the current market, even buying it 90 cents on the dollar, is still a high price given the lack of inventory and the amount of demand right now that we're seeing in Las Vegas.

Well, I mean, I can tell you this, Jack. us we are every flip we've done i mean we're getting like 10% more than we thought like it's insane so like a house i bought um three months ago that is now hitting the market today and we're like okay this is going to sell for 300 we're listing it for 330 and getting it and this is like in a three months span and there's no indication that this is going to stop you know demand is still very high they're still pumping money into the economy. Rates are not going up. So there's so many factors that say, hey, guess what?

You know, you might be sitting on the waiting game and, and it might be hurting even more a year from now. I just believe that the other part as well is getting into your first property also is going to like start your process as a real estate investor. Like the sooner you start, you know, the sooner you start making moves and like you're just getting in the game quicker. you're learning like when did you buy your first property you're 21 21 like you could have rented at 21 and did the same thing but by starting your journey sooner it's allowed you to become who you are

today i had a different uh uh schedule though when i was 21 i had a whole bunch of free time i had nothing going on on weekends uh no we'll not say nothing going on a weekends sundays obviously open houses but there was a lot of time where you know even if i work 10 hours as a real estate agent I had all night. I had nothing to do. I was trying to fill my time as much as possible. Jack is a unique opportunity where for him,

going and finding one extra sponsor would be the equivalent of getting rent on multiple rental properties. So when I look at the time commitment, I'm like Jack spent five hours a month, one extra sponsor, that's like three rental properties right there. Yeah.

Guaranteed to come in with really no risk at all. It's guaranteed. I see that. I'm like, from a time perspective, the time is most valuable spent. So I agree with you there, and that's the reason I got on YouTube and started doing these other things. Because I noticed that too. I said, dang, like, this is risk-free money. This is, you know, I'm used to taking out millions in debt to buy real estate.

It's a very risky business, no matter how good you are. You know, the market could collapse at any moment. You could buy bad deals and, you know, really become insolvent. But there's nothing to stop Jack from devoting all of his time and resources into, you know, this. and building up the channel and everything. But there's, like, if you just go the route of meeting wholesalers and then just letting them do all the work where you're just literally looking at the deals

and you're like, yes or no, you know, you're not scavenging the MLS and Zillow. I think that could be a happy medium where you end up finding a good deal. And what would happen too then is like, if you find that deal, you could just do a burr out of it because you're getting a good deal.

So maybe Graham funds it for you, you know, because you got to buy all cash or with a hard money loan from these wholesalers. They're not waiting for a conventional loan. But after that, you can just refinance right away and, you know, get all the cash out because you have enough equity. I would fund you. I would do that. I mean, I want to, we'll have to talk about that, but I would fund you on that. What percent?

I don't know. We're on camera. We can't put me in spot. Here's what will happen is we will, when I get a house that I think is, we will, when I get a house that I think is good for Jack, you know, it'll be discounted. And I will bring it to Jack first because of everything you guys have done for me. And we'll still make money on it, obviously. But you're going to get something way more discounted than what is currently on the market.

And you won't have to have done any work for it. You'll just have to say, yeah, I'd live here. So you just got to tell me, like, your budget. I would, that would, I mean, I love as many options as I can get. But you would prefer that. Then we look at the, just the overall, like Jack spends $12. $1,200 a month on rent for a good spot nearby versus spending, it's probably going to be $2,800, $29. No, no, no. Jack, how much of a house are you trying to buy? Like, what's the price point?

Graham has it. I said under $400,000. That's what Graham says. Okay. Yeah, I mean, I think, I think under five. Dang, Jack. All right. It's like that. So I'm saying. All right. So Jack, man, right, you're much more of a baller than I was thinking. That's $3,000 a month. I can rent. out the rooms though that's my plan jack i mean Alex said he needs he would he would rent a room Alex said so you know so I had this conversation with Andre before he bought his house you know he ended up buying his house for like 700 you don't need a house as big as andres right now like I would just be like I agree with Graham on that I think you're under 400 is like really good um and at under 400 you're what is that you know 2,000 to 2,400 a month I'm gonna call 25 26

Yeah. But if you house hack, like you said, you get the same result, but you have a house of your own. And you're buying discounted. I mean, like if, let's just say you buy this $400,000 house, but you get it for $350. Would you want to buy that in it's an area you live in? Absolutely. Okay. We get that all the time. We could sell you that all day. Because we can't flip that. At $350, once we factor in our cost and we resell it and realtor fees, we wouldn't make, you know, we might make $10,000. max we're not making 10 grand on a 400,000 our house but to sell it to you for 350 makes sense because you're going to go live in it and you're not paying the 420 that maybe it gets on the market because

it's so crazy why wouldn't you just take that house at 350 and immediately list it and flip it for 400 grand because like I said you you we don't buy all our properties with our own cash so we pay hard money lenders or private lenders oh that's where it gets expensive right so I mean at 350 let's just say we hold it for three months right this has no renovation, like very light, whatever. Three months of that is probably, you know, close to $10,000 in fees. Then you have the realtor fees, call that another like 15 grand. You're at 25 plus title fees on both sides, purchase and sale.

You know, another whatever, eight grand, 10 grand. So just if simple numbers, you're at like 45 grand and we're trying to sell for 400. So we won't make money flipping it, but you holding it, you love it. because it's just you're getting 50 grand in equity plus the upside. I would be so grateful for an opportunity like that. Like I'm telling you, if you really want to do it, in a month, like we'll have a house for you. In a month?

Yeah. I mean, we've gotten, we're in the middle of April. We're having a really good month. We've gotten 13 deals this month. Let's talk about financing. Because I think we've already talked about the obstacles of finding a house. What about financing? What are you finding right now? How much money down? How would Jack be able to get financed? How would this, how would this play out?

Okay, so for those watching, the way you're going to get financed is by just getting an FHA loan or conventional loan. I always recommend the lowest down payment just because it's too hard to save up 20% for most people. Like, man, to save up 80 grand on a $400,000 our house, by the time you save it up, that $400,000 our house might be worth $500. So I think lowest down payment possible. But in Jack's case, with how we're talking about it, what I would say is, you know, you should fund it, make whatever you make off of it, you know, it's cool income for you. Jack gets the benefit of getting an off-market deal and then Jack refinances at the real value of the home. They're not going to, they're not

going to appraise it at the 350 that we sold it to him for. They're going to appraise it at the new value. What you would do, Graham, is you would put a lien against Jack's property for your funding. And at that point, it now becomes rate and term for Jack because he's not getting cash out. like he's just refinancing you out you're the bank you're the debt and um they can give you the new value based on that if jack had 400,000 and he put it 400,000 down well now he's cash out refi and cash out refi has lower loan to value ratios higher interest rates um so it it benefits this plan that we're talking about is like the best way to do it it would be funny if i just bought the property rent this to jack

That would be the ultimate just like, sorry, Jack. Yeah, you know what? I really like this one. Hey, you know what? You want to rent it. Here we go. You wouldn't even want to do that, though, if given the opportunity, you wouldn't even want to. The moment you've been waiting for is here.

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Visit your local GMC dealer today and make it yours. I would. I would rent to you. Would you really? Yes. What? Because that's guaranteed because I know you'll pay. Oh my gosh.

He'll take it out of your check. Ryan, don't listen to him, Ryan. Don't listen to him, Ryan. Yeah. Jack, I will send you the deals. Thank you. But you think, for the record, you think it's better for Jack in this situation. given the entire context to buy a house,

then to spend like $1,200 a month for rent and have the mobility to be able to move around and shift around, knowing that his income is going up dramatically. I get that, you know, flexibility is kind of what you're placing the value on. You know, at the end of the day, right, let's get real.

The $1,200 versus the $2,400 is nothing in the grand scheme of like, if we're talking, he's going to be making a lot of money. Yeah. So it really comes down to the flexibility. You know, if the market tanks, he's stuck with this house. So you always got to look at every house from every lens of, you know, possibilities.

And so whenever we buy a house, we're like, okay, if we flip this, let's say we make 20K. That's cool. If we wholesale it, we might only make 5K, whatever. If we rent it, we're going to cash flow X. And we always think, okay, we're going to go down the flipping route. But if the flipping route does go bad, at least we know we can keep it and rent it for this. and a lot of my rentals here in Vegas were flips that didn't pan out for whatever reason. And, you know, I end up keeping them.

Now they're good. I actually just filmed a video. I was telling you about this. We put a pool in one of my Summerland houses out here. Luxury house. I did not want a luxury rental. This house is worth like 900 grand. And we tried to flip it and it just didn't work out because it didn't have a pool.

I was stupid. I was like, I made a big mistake of thinking, oh, people are going to buy this without a pool, but they don't at that type of price point. And so I ended up having to rent it. And I told the 10, I said, hey, I'm going to build a pool so that by the time I do go to sell this ever again, I'll be able to get what I'm supposed to get. And long story short, that rental is really good now because I bought it two years ago. And even though it was a failed flip, you know, the market's gone crazy, right? I bought the house for 525. It's worth 900. And it rents for 57, $700 a month and my mortgage is $3,000.

Why didn't you build a pool? Just too costly? Yeah, you know, when I looked at it, there was not a lot of comps in the neighborhood. And there were some without pools, but they were on the golf course. And so it was like, okay, how do I factor that in? None of the houses had the level of finishes we had either. They were all just, you know, normal house stock builder stuff. So I'm like, we're fully renovating it.

I think we're going to still get good money. without a pool. And it just wasn't the case because the pool was going to cost me an extra 50, 60 grand. And it was a mistake and I ended up keeping it. Thankfully, though,

it's going to end up working out well for me. What are you finding right now for the rental market? Dude, it's just like the housing market or the resale market. It's insane. People are like bidding up rentals and it's nuts.

So you mentioned earlier they haven't caught up to housing prices yet. Why is that? Just because it's just kind of how it always go. I mean, at least when prices are moving so fast, I mean, people's leases aren't up, you know, for a year or whatever. And a lot of,

and the thing with rentals, too, is a lot of people renew their lease. They don't even get those rent increases, right? I've heard you talk about that. You don't even raise your rents, right? So that's kind of why part of the reason versus when you go to sell a house, you're selling it for top dollar. Correct. You know, so there's a different philosophy and why, you know, just,

we have to set new comps. And so that 5,700 that I just set is like a brand new rental comp. The highest before was 5 grand. So now I've set a new comp. Somebody else will see that and they're going to try and go for that. And over time, it'll do that. But there's just like less, I don't know why it is. It's just it always lags.

So Las Vegas, my understanding is like an extreme example of the whole housing market across the United States right now where everything's like super hot, inventory is low and stuff like that. Do you think that Las Vegas is more extreme because of just the, all these people moving out of their, you know, California and stuff like that, just to Las Vegas? Yeah. I think Vegas for the reasons you guys moved here is appealing to many people.

Like you said, to Californians, man, you can get a mansion in Vegas. It's cheap. Yeah. You guys look at this and you're like, oh, you know, 1.5, like, I don't even, like, that's, that's already a deal. We don't even need to negotiate this. Yeah, like, let's go. Pay one six. Done. Yeah. Seriously. But, but I, you know, as a guy who's lived here my whole life, look at it, I'm like, eh, you know, I've seen it when it was, you know, 700. And I'm like, dang, that goes for

one, five now. So it's different perspectives. But I think you're getting a lot of people that are moving here for Cali, for taxes, for affordability. Um, you know, Vegas is a fun town too it's not like it's just boring and people are living here for just only money reasons like it's it's got to peel that way and i think you're going to see um a lot of big companies probably move here for the tax reasons the affordability reasons and it's going to just continue to grow i mean that's what i think i would love that i think from a company's perspective it seems like they really prefer to be in the middle of the country yeah and that's why i think like dallas austin anywhere in Texas, pretty central. So if you want to go to the East Coast, you can. You want to go in California.

It's equal distance. That's my only thought with Nevada is that even though they're really business friendly and they're trying to bring business here, it's just location-wise, there's not a lot of direct flights to, you know, a lot of these other parts like there are in Dallas. Texas is the best. I mean, that's, it is what it is. It's got its location. It's business friendly. It's huge. You know, they can keep growing and growing. So Texas, for sure, is going to be number one. Yeah. You know, but there are people who don't want to live in Texas.

You know, the Californians want to still be able to go back to California. Yeah. Same reason why you're here. Right. Oh, Jack, after everything we've talked about now, are you going to buy a house? What do you think? I mean, I've been leaning on buying a house for a while now. That's just, that sounds good to me.

I think it just makes more sense for my financial situation to be paying into my own equity. I can make a mistake and still be okay, you know? And that's why I figure it would be fine for me to take the risk of buying a home instead of just renting an apartment or something like that. Because I can, my risk tolerance is higher than average for my age, you know? Well, and think about this, Jack. If, okay, assuming that you get a mortgage that, um, you can still rent and, you know,

break even, right? You're, you're going to keep this house for the long haul and it's going to become part of your rental portfolio, even if, you know, the market goes down, right? If you look back at 2000, the people that bought in 2005, um, their houses are worth more today than it was in 2005. Like it's, it's gone back up. Even after, if they could have

withstood the crash, they'd be in a better spot today because not only is their house worth more, but they paid down 16 years of principle. And now they're deep into that loan and that loan is now amortizing paying off more and more principal versus the person who just buys today

and it's paying all interest. So I think as long as you know, which you do, you can withstand you know, an issue, you know, because we're saying that you're going to have a lot more success here in the coming years. Well, I never said that. That's what Graham said.

I believe in you, man. Yeah, I believe in it, too. Thank you. So I think either way, you're not, you're going to be fine. Like, you're in the best position I've seen a 22-year-old in, you know? No, either way, you can't go wrong. If you rent, you can't go wrong. If you buy it, you can't go wrong.

That's kind of what I figured. I can afford a mistake. right now. Worst case scenario, I can afford it. Like Dogecoin. Dogecoin. Like not selling Dogecoin. Gogecoin's great. And yeah, so not to change the subject or anything, but you also bought into Oh my gosh. Do you want to talk a little bit about that? Yeah. So, man, that one, that one gives me hurt feelings. I actually have a YouTube coming out about it. Um, so I'm not above the pump and dump. If I, if I think people are going to pump it, like we were just talking about

with Dogecoin, I'm like, I'll jump in on it with no diamond hands. and um ome was one of those things it's like every influencer was like talking about it and logan paul's talking about it and you know i shouldn't have known when vegas dave was talking about it it was probably not a good thing to do but um anyways i'm like i'll just buy in and i bought 200 grand worth and uh you know i ended up not selling it when i should have because i thought oh man this is going to like 2x or something everyone's hyping it up and eventually you know it's It goes live on Uniswap. Logan Paul shouts it out.

And it gets to like, you know, what was it? 1.3 cents or something. And I'm up like 80 grand. This was in like a day or two. I'm like, okay. Like we're headed to the moon. Like we're going to go up. And eventually all the whales saw that too.

And they started dumping and then it dropped down to like 0.9 cents. And then like, oh my gosh. Like this is so dumb. And I didn't realize that, um, Man, like to sell it was the biggest hassle in the world. Because like to sell it on Uniswap, you had to wrap it. What does that mean to wrap it? I looked into that.

I did not understand a single thing about it at all. I didn't understand it either, but I had to do it because I'm like, I have to liquidate this stuff. And so. Wait, so what is it unwrap? What does that mean? So, don't take this is like for sure advice. You guys can correct us in the comments. But essentially it's on like GoChain.

And that's what you were asking me for. if I could send you go. And you have to get it on the Ethereum chain. And so the only way to get it on the Ethereum chain is to wrap it somehow with Ethereum. And then you can sell it on the Ethereum chain and on Uniswap. And so that's what I did. But the thing that I learned from that whole experience was, you know, number one, if people are going to pump it, don't miss the pump, you know.

And then number two, know how to sell it beforehand. because if I knew how to sell it beforehand on that day, I would have made $80,000. But three, Omi was very illiquid. So what was happening was my $200,000 should not have moved the price the way it was moving it. And so when I went to go sell it,

it finally reached back to 0.9. And I went to, you know, on Uniswap, hey, sell 200. It would have dropped the price like 15%. Just me selling 200 grand. And I was like, what? Like, oh, that's, you know, six. That's insane. Yeah, that's 30 grand that I'll lose by selling my own coin.

Like, I'm tanking it. And so I had to sell it off in chunks. I had to sell it in 50 grand chunks throughout like the next couple of days. So I didn't tank the price. Wow. And even still, at the 50 grand chunks, it's called slippage. And it dropped it by like 5% each time. And wow.

Oh my God. Yeah. And like 200 grand is not, it should not do anything. Is that just because? the volume was so low? Yeah, there's just not enough liquidity on Uniswap. And so I learned I'm glad I went through the experience because I learned a ton about it. And it's not to say that Omi's not legit and their NFT stuff is going to like, I don't know. But that wasn't the purpose for me buying it. Yeah. I was just trying to make a quick buck. And I ended up losing like 20 grand.

That could have been way worse. It could have been way worse. I was a cheap lesson. Well, right now I think it's trading in like 60s. 60s. So if I would sell today, I would have lost. 100 grand. Yeah. So I am glad I liquidated it. I got caught up in the coin, the coin base a little bit. I was watching that meet Kevin live stream.

I think we're all watching it, waiting for Coinbase to go public. I had my order ready. I got in most of my ore. I got in 80 shares at 391. And then immediately, the rest of my shares didn't even execute. And I was like,

oh, crap, I missed it. I miss it. And then I'm watching the price go up. And then Jack buys in. And it takes. It was too. We watched to go to like 4.20 something. And instantly I was like, wow, I'm up a few percent.

And like, you know, a few minutes. This is crazy. And then it starts dropping, drop and drop. And 370 comes around. I'm like, okay, I'm going to buy the tip. Yeah. But about a bit of the dip. Kept dropping.

And then at the end of the day, or maybe it was the next day, about more like 3.30 something. That's good. But yeah, got caught up in that hype. Yeah, dude. The hype is good as long as you sell it, the hype. You know what the crazy thing is? I've realized that if everyone thinks something is going to happen, it's not going to happen. If everyone thinks going to buy in and it's going to go to this price, it's not going to happen.

Yeah. One thing I've been experimenting with crypto is, you know, I own mainly just Bitcoin Ethereum. But I learned a lesson from the OMI fail. But like I said, I'm not opposed to buying alts if, like, I have good information that I trust. But the one thing is, like you said, if everyone's talking about it, don't do it. But I just bought an alt. You'll get a kick out of this called like pancake bunny. It's paying like 365% return to stake it.

What the? Wait, to stake it? Yeah. What does steak mean? Once again, I'm not the super crypto expert. It's like they loan it out for people. people for leverage and collateralized loans.

Wait, wait, so how much is this? I put 100,000 into it. Why? And you're making how much? As of right now, it's 365% a year. Yeah.

That's got to be a Ponzi. There's no way that's much you put in? I put 100,000, look. Yeah, but you're already up six? Yeah, well, this is a screenshot. It's up 12 now. This guy, that sounds like a Ponzi. There's no way.

So who is paying that? Dude, people, okay, so it's the same reason that BlockFi is able to give crazy interest rates on Bitcoin in Ethereum. I would call, but that's six, you know who they're sending those loans out to, right? Who, BlockFi? It's probably some pretty sketchy entities because those are the people that actually use Bitcoin as payment. No, but the thing is all, there are so many alt coins that are legit making, you know, half a percent to one percent a day. but it's not like, it's not in the long run. It's not like, hey, we're guaranteeing you this for the next year.

It's like this week, this is what it's paying. Next week, it's going to be totally different. I don't believe it. I mean, I believe you're getting it. I believe you're getting it. I don't believe that that is a legitimate. It's risky. Because here's the thing, if any investment pays even 50% a year,

yeah, every billionaire out there, every hedge fund manager, every Warren Buffett is going to go in on that. Well, but they can't. it's against their yeah the hedge fund managers can't the creator themselves it's gonna be listen if I had an investment that was making 50% a year

every year I would not tell a soul I would plow all my money in that I'd maybe like tell hey hey mom dad hey get your money in this and let me tell you this like why would I share that right so with bunny nobody is talking about it nobody's ever heard of it sounds silly well by the time this comes out I might already be out of it

you know what I'm saying yes so like but the only reason I know about this is because I know a lot of crypto traders that like do millions and millions. And this is all they do. They day trade crypto like on these random all coins that are just paying ridiculous sums of money at that time. And I finally got like so one of my friends, I finally was like, hey, can you start doing this for me?

Like I'm willing to trade. Like I've watched you guys make millions doing this stuff. And I don't have the time. I don't have the knowledge. But like stake me in it. Like let me get in. on it. And so I have no idea what Bunny does. I don't know anything about it. It sounds really dumb, but I'm willing to bet on it. Did you know anything about Omi? Yeah, I knew more about Omi than I

know about Bunny. This is silly. We're talking about Bunny. Bunny. I mean, I don't know. I think it's called pancake bunny. It sounds to me like they're paying you off with someone else's deposit. it. And then as people, you know, I'm not saying you're doing this, but as we're talking about it, then other people pile in and they make their money

and they tell other people to make their money. Well, that was the whole thing with Omi. That was what I assumed was happening with Omi, right? Like everyone's selling Omi through all these, like different people

and, you know, the ideas to pump it and all these influencers talking about it. Like, Omi was the example of what that was versus Bunny,

which nobody even knows what it is. I just skeptical. Just skeptical about it. Well, I mean, that's definitely some nefarious stuff going on with there has to take money. There's no way. No, SEC is not looking at bunny.

Come on. No, but you're, pancake bunny paying 150% of you have. No. Well, here's like this. Well,

so it's not pancake bunny that's doing it. It's the, the exchange is lending it. Because the exchange needs they need more bunnies. They need pancake bunny. They need pancake bunnies to lend out to other people. This is the shortage of pancake bunny.

Supply and demand. But people are watching this. Just scratching their heads. Pancake Bunny. Gosh. This is my opinion on all. This is my opinion on all the alts. They're all rigged.

That's my opinion. Even the big ones. And pancake bunny's one of them. But 100 grand, Ryan. Did you not question the name? Who's behind it? No idea. I want to get the guy on pancake bunny.

We got to get him on. the podcast. You should get pancake bunny on. But let's hope, you know. It's some dudes taking off the freeway. Yeah. Under the under the underpass the other night, we saw some dudes like token up. I bet that's one of the guys.

Dude, I don't know. All these alt coins, man, I think, like I said, they're all sketch. I think they're all just get rich quick schemes and like there. I think there are some legit ones like at the top. But anything like. like past 100 to me is like just they're all pumping and jumping. I guess my limit for something like that would be like 500 bucks. I would throw 500 bucks to pancake bunny.

It just for, you should do it. But I don't know how to buy it. How do you buy it? I don't know. My friend bought it for me. So my, you got to swap it and unwrap it.

But here's the deal, Graham. So the only reason I'm buying that is because I trust my friend. That's it. It has nothing to do with me like being this crypto expert. freaking I believe in pancake bunny. I don't believe. I believe in.

I believe in my friend. Like if you told me like to do something that I would be like, all right. And that's just how I feel about it. If he's investing, you know, hundreds of thousands into it of his own money, then I believe in it too. I think where I'm coming from lately. I think, yeah, I've always been very risk adverse. I hate risk.

I always like every real estate deal I went into, I felt so sure that I was going to make money. I was like 99.9% I'm in the profit from day one. I know what I'm going to get on rent. I underestimate everything so that, you know, even the worst case scenario for me has always been like, oh, yes, you know, I made money on that. So I've always come from that perspective that I would rather make a little bit and not maybe make a ton with really the piece of mind that I'm not going to lose. I just, I don't like losing money. So let me give you the alternative pro-risk guy's point of you on that. Yeah. So I had this conversation with my COO at our house flipping company because he was very much like you. He's like, I don't want to lose the company money. Like, you know, that's not good.

You're going to get mad at me, whatever, fire me. Who knows? And I'm like, dude, by being too conservative, you're losing us money because we're missing out on all these opportunities, you know? And so if you just take, for example, let's just say we looked at 10 houses, right? And I would have bought all 10. you know, I'm willing to live with the risk on some of them. Others are home runs. We know they're going to be good, right? And let's just say those 10 houses make 30 or those 10 houses make 300 grand. And then, you know, but in those 10, there were three that lost,

but the other seven still carried it and we made 300 grand. But if he was just, you know, super risk averse and we only bought three houses and we made 100 grand, like I'm fine taking the losses to get the overall gain. I don't know. I feel like there's always a balance of risk in that. And that even though you might be getting a higher return, you are taking a higher risk. I'm just saying instead of,

because it's always like a teeter-totter a little bit, I prefer to take more on the side of, okay, I'm going to de-risk a little bit. Sure, I'm going to get less profit over here, but it's going to be less risky. Yeah. It's always been my go-to. And then as far as the extra profit, sure,

could have made more money taking more risk. But it's like, what would that extra money do? You know, I'm not going and doing the, you were telling me about the crazy date nights and just throwing, oh, there's 200 bucks a person. I'm saying, $200 a person. That's $200 a person. That's 10. All you can eat sushi at Super Sushi in Los Angeles. Ten of them. We could all go, we could all go to all you can eat sushi.

Yeah. For the price of one plate. And I'd have money left over for the Thai iced tea, which is unlimited, by the way, $4.95. It's super sushi. But you, I mean, I think we had this conversation on the first podcast. At the end of the day, though, like, for us, we know we can make money. Like, I have no doubt that you're going to, in the next five years, make so much money that spending $200 on a meal is not going to matter. And so even for me, like, I like to spend money on experiences.

So like last night for my birthday, right? Like, we ran out the place and, you know, we have all that food and stuff. Like, it wasn't cheap. How much was that? My guess, my guess was, I guessed $100. a person. I guessed $5,000 in total. Yeah, that's what I said. Yeah, it was about $5,000. Cool. Yeah. But like totally worth it to me. Like to have an experience, $100 a person,

you know, and have every friend's family there, like, well spent. And it's, you're just like, you're going to remember that forever versus if I don't do it and I save the $5,000, like, I wouldn't want to do that. That hits home. But see, or you could do what I did for the what was it for one of the housewarming parties had people over at the house we got pizza got some drinks I think under a hundred bucks

we entertained like was it 10 people 12 people something like that yeah I mean and there's nothing $10 a person well we do that too it's not like everything is just hey we gotta go all out

you know like there's a place for that and then there's a place to really go out I mean it's my birthday right so that's only once a year I could spend a little bit yeah so oh we should a charge to cover at the door. So like everyone who comes in,

like Alex is taking tickets. They have to buy a ticket. But Graham, too. You know, that was a business expense. Yeah. You know, that five grand is a write-off. They just did the thing. Like, you can write off 100% of meals now

that you use for business. And guess what? Over at least, what was it, 75% of those people are business associates. Did that pass? Yep. Yeah. Yeah, just for a while.

Last week. Was it last week? Last or this week? Yeah, I saw. It's crazy. And then there's, there's no. Everything was, how did I miss that? What did it pass in?

You can write off 100% of meals. I know, but what bill was that on? That can't just be a standalone bill. No, I just saw like news articles and stuff about it. Yeah. I talked to you about it, didn't I, Alex? Yeah. Yeah.

And that's not a proposal in a package. No, it was passed. Yeah. All right. Yeah. So it's a good write-off. It was a great experience. Yeah.

And I think I err more on Ryan's side when it comes to this type of stuff. I think experience is like money is a means to an end. You know, it's not the end. Yeah, like what are you going to use the money for like at the end of the day? And if you do use it, why not use it when you're 30 and young and lively instead of when you're 70? My only counter to that is it from my perspective, you can get 95% of the same experience for 10% of the cost. You're not getting 95% of that experience eating pizza. That was a pretty crazy night.

We had a good pizza. And it wasn't just pizza. Gary brought spring rolls. That's true. It was really good. And we had two friends, Ver, sent us donuts. Yeah. It was, it was great nights.

It's not to compare the nice. They were both great nights. Right, right. No, and like I said, I would prefer to have both of those types of nights, you know. Have the pizza nights, but then, you know, have a really big night every so often. Let's get back on the subject of real estate. Okay. Where do you see the market heading for the next few years?

In both Las Vegas and then in the bigger picture, as far as like interest rates, inflation, the economy, what you're seeing with the jobs market here. Yeah, I mean, as I was kind of saying with Jack, I think in two years from now, when we're kind of looking at his time frame of potentially wanting to move again, I do think that this continues to go up.

There's nothing currently right now in April that says it's not. You know, and until I see otherwise where people are like, you know, the government says, we're raising rates. Things are getting out of control. We're not doing any more stimulus. I just don't see that happening anytime soon. So in Vegas, I think it's still going to be just crazy. I think Californians are still moving here. I think, you know, people from everywhere are going to move here.

And I don't know. It's hard to predict. I mean, look, it's hard to predict any indefinitely. investment like with certainty. I mean, we'd all be super rich if we did. But I'm very confident that, you know, it's not going to go anytime soon. Like the only real risk right now is the whole foreclosure and forbearance thing. You know, that's what people have been saying for a year. It's funny enough. I don't think there's any risk in that. I don't either. Yeah. And people are like, oh, man, you know, back this time last year, there's going to be a wave. And I'm like, no, they ain't

foreclosing on people. Like they're going to, they're going to do everything possible because it was the government's fault. Like they shut people down. So these people don't deserve to get foreclosed on. And so a year from now, you know, here we are, nobody's still getting foreclosed on.

And that's honestly causing a big part of why there's no inventory. Because those houses would have been potential inventory, people that had to sell that are now not doing it because they don't have to. And so I don't see them changing that any times. soon either. I think they're going to do loan modifications. They're going to do everything to keep those people in the home. I heard a pretty interesting point. I think this was during millennial money, but someone brought up the fact that like maybe the government won't let another recession happen after like this whole like pumping all of this money into the economy and stuff like that

and keeping rates low. Do you think that the government would let another like not 2008, but like another recession or something happened to that degree? I mean, I think they're doing everything possible to not let it happen. Man, there, there was a really good book. I forgot what it's called, but basically this guy predicted this like years ago. He said essentially the government was going to have to start printing a ton of money to keep up with all the technological advances and all this stuff because tech is making things cheaper. And the government always wants to promote like the right amount of inflation. You know, we don't want hyper, we don't want deflation because then people don't spend money. We want to have the right amount.

but his thesis was in order for us to maintain that level of inflation they're going to have to pump crazy amounts of money and we're seeing that you know we're seeing more money printed than ever and it was cool to like read it and look and see like man he called it and um the the theory is that it's going to keep happening there's just no way to to keep things going unless they continue to print money and i mean they're going to do everything they can i mean they've already proven that They'll just keep pumping. They'll keep dropping rates. If things, the moment things start to go south, they just use every tool they have.

Are you in Bitcoin at all? Yeah. Yeah, I've got 860 right now on this. Wow. Let me see this. Geez, you're beating Andre on this. And I just got a, I bought more on Coinbase. Are you near a million yet?

Yeah, if you count pancake bunny, I am. Great answer. Wow. You're almost 50-50 between Bitcoin and Ethereum. Yeah. Was it on purpose or just by chance with Ethereum going up? Ethereum's just been going up more. Okay.

How much of that is principal? On that, 500. Oh my gosh. And I bought it in January and February. Wow. Oh my gosh. It's fantastic. Yeah.

Well done. That's, yeah. That's why I'm playing with house money on Bunny. Yeah. pancake bunny I'll see some of these yeah so I dude

and part of that book too I'll you'll have to link to it once I tell you once I find it but part of it was him predicting Bitcoin also was going to rise because of this like he was like Bitcoin is he's like it's pretty much the way that it's going to happen

how long ago was that book written like three years ago yeah and it was after Bitcoin tanked, you know? Like it was in between this period where everyone thinks Bitcoin is trash. Right. He's like, no, Bitcoin's.

Oh, it's called The Price of Tomorrow by Jeff Booth. So to circle back to real estate, because you're the expert here, what would you say are the things that you should really, really look out for as a first-time home buyer? The biggest nightmare is those kinds of things. Hmm. You know, I think always get a home inspection. You just don't know what's going on with the house if you're new. you know, don't trust what your eyes tell you, get an inspector.

I think that's a good way to prevent a lot of that. Another thing I would say is, you know, really make sure you have all your contingencies built into the contract. Have your due diligence, have your appraisal contingency. Because a lot of these, a lot of these agents right now are going to try and get you to waive that. They're going to be like, hey, waive your due diligence period, buy it as is, waive your appraisal contingency.

you know, if it doesn't appraise, you're on the hook. And I think in a market like today where things may not appraise, if you don't have the money to cover the difference, you're going to probably either lose your earnest money deposit or, you know, be out of a lot of cash to buy that house. So I think paperwork-wise, just make sure you're doing it right. A good realtor should, you know, understand those things. But, you know, as far as the houses and everything like that,

I would say if you're a first-time home buyer, I said this multiple times, like, I just put as little down as possible cash-wise. Don't wait to save up 20%. Like, that's just my opinion. It's how I got started. And, you know, I think leverage is the greatest asset that real estate, you know, gives you. And so if somebody can give me 97%, and I only have to come up with three, like, to me, that's what makes real estate so great.

when you mentioned inspections, what I've always done, because I have been advising clients in the past to waive that appraisal, to waive that loan and to waive the inspection. And it works really well. So what I've done instead is for the inspection. As soon as they see the house, as soon as they know they want to write an offer, we get an inspection done ahead of time. So that by the time they write an offer, they know exactly what they're walking into. They know all the issues. And then they're able to go and write that offer without the inspection contingency. And then as far as the loan, usually what I've done is get the assurance from,

and they have to be a really good buyer in certain situations where you know, 100% they're getting a loan. It's just they've got to go through the underwriting process. But in those specific situations, it's worth it, at least for those clients to waive it all. Go in, they know exactly what they're walking into, and the seller gets that piece of mind that they know they have a done deal. Yeah, no, I agree. Oh, and then here's, here's their out, by the way.

When the seller has to give their seller property questionnaire transfer disclosure statement, they could just say, oh, no, I don't like that. You know, I'm not going to back out from that. Now they could always argue that like, okay, no, you owe us. But I've never had that situation ever happened before. And that usually gives the buyer like a five. Sometimes I will say a three to seven day window where they could still back out if something were to happen. Yeah.

You can do that with the HOA package too. Yeah. Oh, that's a good one. So, and because that takes a lot of times to order that. Yeah. So look, there's a lot of ways to get out of a contract. We've gotten out of contracts many of times. But I guess my point with it is that if you're a first time buyer,

you've never, you don't know anything. Like make sure you understand how you could potentially lose your earnest money deposit. But, you know, if we waive everything on all of our deals because we know our number, like, yeah, we're buying this. How did you learn so much about real estate? and what resources do you think someone like me or someone else out there that may not know so much about real estate can educate themselves to be, you know, as smart as they can and make the best, you know, investments in real estate as possible. You know, when I first started out, I was just reading books and listening to podcasts. So I used to listen to the Bigger Pockets podcast. I've been on there a couple times and want to, you know, love Brandon and those guys, really good guys. And that was like it when I was starting because they were like the only ones at that.

time. You know, they started back in like 12 or 13 or something. And I didn't watch YouTube. In fact, I didn't watch YouTube until like last year. So I think there's a lot of great free resources. But the one thing that really took me to the next level was by starting to just pay for mentorship. Because I never had a mentor. Like I just had to learn by myself and figure it out. But the moment I started hiring people to like train me on what they already did things changed you know i did that i showed you my org chart at the office right like i didn't invent that org chart you know like i didn't come up with it like a guy a consultant helped us build it and do that and it's drastically changed our business so um i think having that type of stuff is super huge um i've got an education company as well called

future flipper you know we've got courses coaching products you know all that stuff to help people start And we get people every day who get their very first deal. Well, I don't want to say every day, but we see it every week, people posting about getting their first deals. And we're not just talking like people buying a house to live in. Like we're talking about flips that are discounted and, you know, getting good deals.

And that's, is that like nationwide? Yeah. Yeah. We have, man, I got like these students in Hawaii all the way to New Jersey. I had a workshop in my office this week on Thursday.

And I had one guy who came all the way from New Jersey, just to learn. I had another two kids that were 18 years old in high school, you know, coming to learn to flip houses. I was like, man, like these guys are hungry. But they're doing it right because if you know what you want to do, you're 18 years old, like just go learn from the best possible guy you can learn and learn it at 18. Like if I would have learned it at 18, oh my gosh, things would be different.

Like if Graham, if you knew what you knew now at 18, it'd be way different. But I just, I never like was able to build those relationships and find good mentors. I just didn't know how. So what exactly does the future flipper program offer? Like, what is the main advantage of being a student? I mean, we talked earlier about the off market stuff. Most people will never learn to do any of the off market stuff that we talked about. Because there's a lot that goes into it, like I said, with.

your budgets, your marketing channel, your sales skills for closing deals, getting creative to do deals like that seller finance we did for the apartment. You know, that type of stuff is what we really preach. But at the end of the day, what the biggest thing we really try to hammer home is, if you can find good deals, you can do whatever you want in real estate.

I mean, if you find a good deal, you can flip it, you can make money, you could wholesale it if you don't want to go through the construction, all that stuff. Or you can keep it as a rental and build a portfolio. but it all comes back down to how good are you at finding good deals and then on top of that you know can you raise money to buy all these deals can you you know do construction on the deals you buy you know because it's cool when you're doing one and you know you can do it all but as you start to do more

and more you got to start getting more people to help you fund the deals like graham's doing for you um you got to get more contractors because you know we all know construction's tough and in a lot of places and you know at the end of the day finding deals though it all comes back down to finding deals so that's what we really teach that seems like like as someone who isn't really in real estate that seems like the most complicated of all things and just like the the the cumbersome task of finding deals is like it's uh it makes it scary to like get your toes wet you know what i mean it's hard for me too i would spend six months to try to find a deal writing offers having to go over the price i was comfortable paying losing out

And even sometimes I would have an offer accepted, go through inspections, find issues, couldn't, wasn't able to negotiate a price that I felt was fair for that. So yeah, and that was me looking every single day as a real estate agent for you for myself. Yeah. Took a long time. Well, and that's the thing too is we're talking about it in the competitive market today. Like, man, that was back then. Imagine now trying to find deals as a realtor on the market that, you know, you could flip or wholesale.

I mean, our students still do it. You know, there are markets that are not Vegas, you know, and they're not. as competitive and they can get deals. But, you know, for me anyways, the off-market side of things is where it doesn't matter what's going on. You can get deals no matter what, because now you're going direct to the sellers, you're understanding, you know, all the things that happen with that. So I think if you can develop the skill to go off-market, which is very time-consuming, like you said, but it allows you to get deals when no matter what's going on. How about this, man? We'll link to your information down below.

in the description. So for anybody who wants to check that out, it's down there. Sweet, man. There you go. Thank you for coming on. Yeah. Thank you so much for doing this, man. Yeah, no, it's always good hanging out with you guys. Especially the day after your birthday, you're out late, came here the next day. Hey, right on time. We gotta do what we got to do.

Appreciate it, man. Thank you so much. Hey, good seeing you guys again. Cool. Thanks for hooking up Jack, by the way. Thank you. I'm so excited, actually. We're going to keep a touch. No, what we're going to do is we're going to wholesale you a house and then we'll do another podcast about it once you buy that house. This will be a recurring topic

on the podcast. So I'll keep you guys all updated on my real estate journey. Yeah. You're also going to invest in pancake bunny. Yes. Don't know. No, you got to tell me the brokerage or whatever until I can invest in that. Nobody invest in pancake bunny, please. Especially not me. I'll crash it. I see that on Omi too. I'm like, I'm buying Omi. Nobody else

buy Omi. Like, don't do it. Pancake bunny. Jeez. All right. So with that said, you guys, thank you so much for watching. I really appreciate it. It's always make sure to destroy the like button and subscribe button and notification. Oh, you got a you got to look them in the eye. Tell them smash the like button.

Make sure you guys smash the like button. No? Destroy it. Oh. Don't just smash the like button. You got to destroy it. There we go. And also get your free stock down below in the description.

Poplick is going to give you a free stock worth all the way up to $50. Plus, I'm posting all my stocks in there. So if you want to be a part of it, use that link down below. Thank you guys so much for watching. And until next time. Ice coffee. All right. All right.

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