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The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors. He has won back to back Closers Olympics earning him the reputation as the King Closer! Finally, RJ and Cassi DeHaas, his partner, have started their education platform called Titanium University.
The Titanium Vault hosted by RJ Bates III
The New York Wholesaling Reality Check
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Why New York Closings Collapse
SPEAKER_00Uh welcome back to wholesale and around the world, the New York edition. Today we're going to be talking about the empire state. And despite the fact that New York comes in as the fourth most populated state in the U.S. with approximately 19.5 to 20 million residents, it is one of my least favorite states to virtually wholesale in. And it's not because of regulations, it's not because of lack of deal flow. It is primarily because it is an attorney state and they are god-awful to work with. My word, it these attorneys in New York are absolutely terrible at their job. If you have a good closing attorney that you've worked with in New York, please drop it in the comments below because I've yet to come across one where I'm like, damn, you're good. I mean, we have those in other states like Georgia, that's an attorney state, but in New York, it is absolutely terrible. And I'll tell you, there are plenty of opportunities to virtually wholesale in New York. We have people inside of Titanium University that are successfully wholesaling in volume inside the state of New York, but virtually across the state, I have come across so many deals that we've successfully acquired and then dispoed and had the buyer lined up, and the deal falls apart strictly because of the lack of I don't even know what the right word is, just the ability to get the deal across the closing table by the closing attorneys in the state of New York. And it's happened in Buffalo, it's happened in Rochester, Albany, Brooklyn. I mean, this belt right behind me, wholesale and live 2023. I closed the deal on stage in 15 minutes, a triplex in Brooklyn, New York for$1.1 million. We ended up assigning it for a$100,000 assignment fee. The attorneys killed the deal. I'm about to show you a live dispo that I did in New York. That is a, it's one of my favorite live moments that I've ever done. An actual live dispo. Not an acquisitions, but me dispo in the deal. I deal with a realtor. I end up getting the in buyer on the phone, sending the assignment. That deal never made it across the finish line. Why? Because the attorneys took forever, the property was vacant, ended up getting vandalized, more distressed. There was a flood, all kinds of things got stolen out of the property. And it was all because of the delays of the closing attorneys. And that has happened time and time again inside the state of New York. So, because of that, it's literally one of my least favorite states to virtually wholesale in. It compares to a West Virginia or Louisiana. The difference is those states are poor, they lack uh buyers. New York's not that case. New York has in buyers. It's just so difficult to get deals across the finish line. And it's like across the board, every time I talk to anybody about New York, they agree. It is just a difficult place. And for it being the fourth most populated state in the United States, you would think it would be a fantastic opportunity. I actually really like calling leads in New York. I enjoy the conversations. I feel like the sellers there that are motivated or highly motivated. You can get deals at a good price. You can find those in buyers. It's just getting across the bench line. So that's the secret to New York. Finding that great closing attorney that can actually close deals, that's not going to kill the deal. There are issues with the foreclosure and the eviction laws in New York that are a lot more lenient towards the tenant, towards the person that's being foreclosed on. So that kind of hurts you a little bit inside a state. But overall, it's just a mess there. And so for that, I just don't recommend New York as being one of those early states that you try to virtually wholesale in. If you can overcome the closing attorney mess, then it's a fantastic opportunity for you. I just have yet to come across anyone that's 100% virtual doing this across the United States that says, I love the state of New York for virtually wholesaling. That being said, what I am going to show you guys is that live disposition school. I've posted this before, so I want to reshare it for the new subscribers. I appreciate you guys. I want you all to see this. This is a fantastic live dispositions. The realtor had gone out and seen the property, the in buyer had seen it. So what you're going to see is a lot of negotiations around getting the deal assigned. We did successfully get the assignment signed. It just never made it to the closing table because of that vandalism and some of the additional uh distress elements that came up with the delays on the closing. So enjoy this live dispo. Let me know in the comments. Am I right or am I wrong when it comes to the Empire State? We'll see you guys tomorrow. Hey uh man, looks like you had placed an offer, or I think your client had placed an offer on the Livingston Avenue property earlier today.
unknownYeah.
SPEAKER_00So you guys came in at 70, right?
SPEAKER_03Well, 67.5.
SPEAKER_0067.5. Okay.
SPEAKER_03Um, I told her I wanted 2500.
SPEAKER_00Yeah.
SPEAKER_03So she's at 70, but she's paying me.
SPEAKER_00Right. Um have you talked to her about coming up? Because I I cannot make that work on my side.
SPEAKER_03Yeah, I just I didn't know you know what it was looking like, how many other people you had looking at. It's it's it is what it is. It's the property. It's she's got many properties throughout the city.
SPEAKER_00Right. I mean, I I hear that, but I mean, you know, that that ten twelve thousand dollar difference may that's a a deal breaker for us. I don't know that it moves the needle that much for her on on the backside potential of what this property stands on. You know, I mean, I'm looking at what thirty six hundred dollars a month and rent rate on it, quite a bit of equity that can be captured there with improvements. And as far as other people, I mean, I do have other people. Um, no one is at the number that I need it to be at, just being fully transparent. But I mean, I I fully anticipate that I'm gonna get someone there because someone's gonna see the potential. So that's why I'm playing that I'm the owner of the company, so I know you've been talking to Garrett, but this is why I'm calling with the courtesy of saying, like, I can't make that work. You guys want to have the conversation about it and see if we can get closer to the 80, but that's pretty much where I'm gonna need to be.
SPEAKER_03Yeah, all right. Well, uh, I'll let him know. I told her I told her you had other people and that you're definitely gonna sell it by you know a couple weeks.
SPEAKER_00I'm gonna sell it today.
SPEAKER_03Oh, you selling it today?
SPEAKER_00Someone is gonna buy it. I mean, I gotta go watch the NBA finals, so I'm plan on having this thing done in the next hour or so. I mean, I'm I'm voicing the phone calls that everyone has seen the property, and I'm letting y'all know, like, hey, this is where it needs to be. If if we want to do this, let's let's figure out a way to make this work. But I mean, I can't I like legitimately, I would be paying to wholesale the deal to you.
SPEAKER_03Well, you gotta you gotta talk to the owner and just say, hey, I've got six people in there, and you know, they're all offering me 30, 40,000. You gotta come down on your price.
SPEAKER_00Yeah, but I well, I already to be clear, I already have people that have offered more than you guys. They have not offered 80. So I already have people that have offered in the 70s. So, I mean, I'm that's I'm calling and saying, hey, realistically, I need this to be pretty close to 80.
SPEAKER_03And and she just bought a two-family about a mile up the street, same 384 or 385 living Sonabs. And we closed on it. She paid 80 for that, and you know, there were people living in both.
SPEAKER_00And that and that was a three-family or two-family?
SPEAKER_03It was a two-family, it had a garage, rant, but that mile is like a difference of night and day between the areas. That that's how bad, you know.
SPEAKER_00I mean, I hear that, but a whole extra door is a whole extra twelve hundred dollars a month.
SPEAKER_03Yeah, but it's it's redoing the place too. You know, the the other place didn't need, you know, she moved. Matter of fact, she didn't do nothing upstairs. She gave it kind of refrigerator.
SPEAKER_00Right. I mean, uh again, uh obviously she saw value in it because she offered the 675. So she's interested. Yeah, right.
SPEAKER_03She's got kids, and believe me, she's got about a hundred apartments in in the city.
SPEAKER_00So she sounds like the person I want to do business with. I'm just being as transparent as possible saying I I I can't do 67.5.
SPEAKER_03Yeah.
SPEAKER_00So I mean, we've we've gotta have there's gotta be some wiggle in the worm. You know what I'm saying? I said 80, you said 67.5, I'm saying we gotta get somewhere closer to 80.
SPEAKER_03Yeah, well, that's that's where she is. She's not she's pretty adamant. She's she's not she doesn't have to, you know. It's she's she knows what she's doing, she's got a lot of property.
SPEAKER_00I mean, I hear you, but what what is what why is that$10,000,$12,000 that important to her considering the potential that comes along with this deal? Where what am I missing? Because when I when I pencil this out from a cash flow perspective, from a per perspective of what equity could be captured, what what am I missing?
Inspecting Risk And Repair Reality
SPEAKER_03The condition of the property.
SPEAKER_00I mean, I I see the condition.
SPEAKER_03No, you haven't. The condition is really bad because I looked at your pictures and when I got there, it's night and day. It's night and day. I couldn't even get to the roof. The the door was locked. It had a cable on it. You could you could push it about eight inches. I pushed it eight inches, and you you could see the door was open, but it's it's in bad condition. I mean it's gonna it's gonna cost you about a hundred thousand dollars, if not more, to to get all three of them apartments up and running.
SPEAKER_00So it would be a two percent rental. That's amazing. You're all in at 180 and you're getting thirty six hundred dollars a month.
SPEAKER_03That's yeah, that's up to that's up to her. You know, she's the business person. I mean I'm a real estate broker, and you know, it's just I wouldn't touch it because I'm not gonna pack my gun to go collect rent.
SPEAKER_00Yeah, but I mean you said she has a hundred apartments there.
SPEAKER_03I mean, I'm I'm a I mean, that's what she's black, I'm white, you know, she's she fits right in.
unknownMatter of fact, she pulled the truck over and six people came up to her. How you doing? What's going on?
SPEAKER_00Right.
SPEAKER_03Well she was there ten minutes before I was telling me about the neighbor and a guy down the street, bullying me.
SPEAKER_00Well, can you do me a favor? Can you just call her and and tell her that this is where we need to be and what is she's in the 70, but like I said, I you know I wanted something because the last deal I sold to her, I got fucked.
SPEAKER_03Basically, instead of being 5%, I did 4%. She found out that the electrical was shot on the place. Well, I gotta I got my contractor to go over 50 electrical, and then the seller was blocked and then he was he was only gonna pay half. And she said, I'm out of the deal. So for me to keep the deal, I even gave up more. I I gave her back like 1,500 at closing. So here she is buying the place, and I'm giving her$1,500. I think he made what I made on my commission. And I, you know, I I just said never again, you know, she got me once, but she's got the money, and she didn't have to pay it, you know. She was she was buying it, the seller was paying the commission.
SPEAKER_00Right. Well, I have no I have no problem protecting you and making sure you get compensated.
SPEAKER_03Well, that's the only way, because you know, she said 70. I said, well, I gotta get my cut. So my cut was B 2500, so basically her offer is 675. If I wasn't in there, she'd be offered a 70. But you know, I didn't want to give her your name and number, then I'm out of the deal. Then, you know, where am I? Where I was the first time with her.
SPEAKER_00Well, that's what I'm saying, but it sounds like it sounds like you're the person she trusts. Sounds like you've got pool with her. Yeah, you want to get paid, I want to get paid, and we've got a a bridge that we've built for her. It's a two percent rental when she's done. That's a good deal. Get her up to 80, you get your 2500, and I get my cut.
SPEAKER_03She's she's got the workers, she's you know, she's got the she's got the doors, not me.
SPEAKER_00Well, that's what I'm saying.
SPEAKER_03I've got maybe 10. She's got over 100. I saw her key ring.
SPEAKER_00That's what I'm saying. Just give her a call back and say, hey, the only way we're getting this one is 80. See what she says.
SPEAKER_03I dealt with her many, uh, I showed her many properties, and I just I kind of just told her. I says, you know, this is from now on, you're gonna have to pay me because I'm not gonna run around the city hall when he opening up doors for I'm not getting paid because you're not buying nothing.
SPEAKER_00I hear you. I'm saying happening. You get her to 80, you get to 2500, and then we get to deal with it.
SPEAKER_03She ain't got she ain't going there. I'm telling you, I know her, you know.
SPEAKER_00Over 10,000. She's willing to walk away from a two percent rental in a town that she owns a hundred doors in.
SPEAKER_03Yeah, yeah.
SPEAKER_00Over 10,000. That's like, dude, I I've literally done over 2,000 transactions, and like majority of buyers that own that much don't trip over that much of a price difference on this type of equity capture.
SPEAKER_03You gotta see the property, you know. It's no lie. It's gonna it's gonna cost ten thousand dollars just to just to get rid of this stuff in the place. You got a vacant car on there, you got every every apartment's got every it's a hoarder house. I mean, it's gonna cost you 10 grand just to get rid of the stuff.
SPEAKER_00No way. No way. No way. I is there any way that you could just call her on three-way and let me pitch it to her? I don't need to know her name. I don't need to know her address.
SPEAKER_02I don't care. I just want to get the deal moved.
SPEAKER_03Yeah, yeah.
SPEAKER_02Is that possible?
SPEAKER_03I don't know.
SPEAKER_02Bro, come on. Don't you want to get paid?
SPEAKER_03Well, yeah, I want to help her out too. You know, I'm I'm the guy she's going to, you know. She's gonna buy the house, it's just you know, I I put it to her, it's like, you know, my own. Well, it does with this house because it's what the house needs, man.
SPEAKER_00You're you're all in at 180,000 and it rents for 3600 a month, and there's still equity.
SPEAKER_03The house isn't worth 180.
SPEAKER_02Um what when it's fixed up?
SPEAKER_03Yeah, it'll be close.
SPEAKER_02It's at least 230.
SPEAKER_03It it doesn't it it says three family, but there's there's there's three electrical boxes, but there's not three heating systems. I don't even see a heating system on the on the basement. I saw I saw three different panels, but I I don't know if somebody was jacking power off of one, but there's really no heating system. There's two heating systems, you know, for the second and third floor.
SPEAKER_00Okay, so now is the debate that it's a two-family, not a three family.
SPEAKER_03That's you know that that's it it is what it is. You know, I don't I don't know. I I didn't do any research. You guys sent me an email, you know, and I said, hey, looks like a decent price, decent area. If you bought a house there before, I'm gonna go take a look at it myself. And I called her up. She says, Well, can I come with you? I said, Yeah, you might as well, but I'm signing a buyer broker. You're gonna, you know, I'm not taking people around and not getting paid no more.
SPEAKER_00Okay. Well, I mean, I mean, it's a three-family. I mean, it that's on county records. I mean, if it doesn't have a heating unit down there, I mean, that that's what investors do. They improve properties to capture equity.
SPEAKER_03It's it's on paperwork down at the city that it is a three-family? Yes.
SPEAKER_00Everywhere you look, it says it's a three-family.
SPEAKER_03Okay. Well, it's said that nobody's lived in both of them properties for years, right?
SPEAKER_00It's just in the second and the bottom unit, those have been vacant, but the top unit has been occupied.
unknownYeah.
SPEAKER_03And to be honest with you, I don't I don't know how. I mean, I don't know. It's I don't know how that guy was living in a place like that. It's just dude, it's it's bad. I mean, the toilet was the toilet was rocking.
SPEAKER_00I understand, but at the end of the day, the buyer said, I will pay$70,000 for this. Cash, I'm ready to go.
SPEAKER_02Yep.
SPEAKER_00Okay. And what I'm saying is, is that price does not work. She's never been countered before. In a hundred units, she's never received a counter offer and said, you know what, I do want to capture this one because I already own multiple doors on this street.
SPEAKER_02What we can move the needle a little bit.
SPEAKER_03She's not gonna go to 80. I'm telling you.
SPEAKER_00If we shoot for 80, maybe she says I could do 77, and maybe I would accept that because I want to go watch the NBA finals.
SPEAKER_03Well, that's 77.5 because the 80 would be my 2500.
SPEAKER_00I understand. You want 2500? I want to get you$2,500. Whatever she says, her number is you get$2,500. I'm cool with that.
SPEAKER_03Well, that's what she said.$67. She said$70.
SPEAKER_00That's what I'm saying. Let's get her to$80. This is a very common thing. You're a broker, you do deals, you know how this works. She says$70. I said, I you got to get closer to$80. Otherwise, I gotta go do this with paper. What's that?
SPEAKER_02Do you flip houses, or do you are you just flipping paper? Both.
SPEAKER_03Okay, well, you're in Texas, right? You got you got basements down there?
SPEAKER_00I have flipped many houses with basements because I flipped houses in 15 different states.
SPEAKER_03Okay. I'll tell you, I mean, she's got the workers too, but it's it's the house is bad. It's bad.
SPEAKER_00I understand that, but we are not, you're we're not even having the conversation with her about coming up on price. Buyers with a hundred doors, they there's an ego that comes along with this where they don't want to miss out on a deal to somebody else, they want to have 103 doors today.
SPEAKER_03No, her her thing is I got the money, and if I don't get it on my price, my price connects. That that's her attitude. Believe me, I know, because every house I took her, it's like, yeah, they'd advertise a house for ten dollars, you'd want it for nine. It's like it's like this ain't the this ain't the market for that.
SPEAKER_00Here's my final sales pitch, okay? You ready for this? Two people in this world love me. One, redneck men, two, black women. Black women love me. Let me talk to her just real quick and see if she falls in love with me and comes up on price so we can all get paid.
SPEAKER_02If you're calling her on three-way, I won't even know anything.
SPEAKER_03I don't know if she'll answer it. I don't know anything.
SPEAKER_00Just call her, see if she answers. And I'll say, hey, I'm the guy that's trying to sell you this property on Livingston. Let's let's make a deal happen.
unknownHold on.
SPEAKER_00All right, let's do it.
SPEAKER_03How do you do this?
SPEAKER_00You you got an iPhone or an Android?
SPEAKER_03Yeah, iPhone.
SPEAKER_00So it should does it say like ad call or anything like that? My ad call, you dial her. Once she answers, you merge them.
SPEAKER_03All right. Let me see if I can find a number. Shawnee, I'm mad at you. Shawnee said it's a lie. I can confirm that that is not a lie. I've seen it for seventeen years. It's true. It's a fact. Shawnee better not show her face on the next implementation call that I run.
SPEAKER_00Coming after you.
SPEAKER_03She loves you too. She just talked.
SPEAKER_00She said you cute, but he didn't mean like that, but they they love him. Shawnee said you cute, but damn.
SPEAKER_03Shawnee, I love you.
SPEAKER_00Hello, is this uh the the buyer for uh 218 Livingston Avenue?
SPEAKER_03Yes, how are you?
SPEAKER_00I am fantastic. I want to make a deal go down today. You ready to buy my property?
SPEAKER_03Did you see the house, sir?
SPEAKER_00I I have. I have seen the the the the pictures of the house. I get it, it's in bad shape.
SPEAKER_03Oh my goodness.
SPEAKER_00I heard I heard that you're you're the the queen landlord though in Albany.
SPEAKER_03I'm trying, but that is I I Soma was looking for the inside.
SPEAKER_00I was outside already, like so you're you're at 70, is that right?
SPEAKER_03Um that is like 20 right now.
SPEAKER_00Okay. And I'm at 80. And I I need you to to come a lot closer to me. Is there is there any wiggle that you can get closer to me?
SPEAKER_03Honestly, you can ask some of my debt, just cleaning alarm before you look the the the heat is not walking, it's it's just it's a whole lot. And the the place is put up got it. You continue back. It it's gonna take minimum hundred and twenty easy to put back. Yeah, we're we're we're you know, you know, my kid has uh people have none of uh power. Hey, I told them it's gonna be about ten just to cut the freaking plate and get rid of the stuff that's there, it's an order house.
SPEAKER_00Okay, so I need you to come up a little bit though, just so I can say I did business with you. So can we get you up? Can you just come somewhere closer to 80,000?
SPEAKER_03I know it was exactly why I said somebody to Soloma when I left him. So like I might put me my thinking myself right now.
Rent Law Changes And Code Problems
SPEAKER_00Because you're going to you're gonna be getting how much rent per unit? 1200.
SPEAKER_03Not the rent right now. Did you see the new law that you passed in Albert yesterday, two days ago?
SPEAKER_02No, I did not.
SPEAKER_03I'm all over now, everywhere. So we have nothing like I have a moment just calling it waiting for the right button, not right thing to anybody that I come. Not about the rent for no more. What am I doing? They're putting in like a rent control. They're really they're really sticking it to the landlord.
SPEAKER_02Right.
SPEAKER_03Oh my god. Um not what it used to be. It was only in New York City, and the the mayor just signed it a lot in New York.
SPEAKER_00So how much how much rent do you think you'll be able to get now?
SPEAKER_03Um, with the two apartments? Oh no.
SPEAKER_02Oh yeah.
SPEAKER_03The basement has no heat and the lower, they have no one has yes, yes, the whole that's another or I'm talking about just putting the two together like a hundred and twenty to get it all right. I'm not even talking about the basement now. I don't know if it's a big or three because there's no heat, there's no one to the unit. Um, so there's so many code violations in the building that you probably take another you know, time to quit because you can't rank no more without the code calling for full inspection, getting ROP or Naya. So that up that building probably would not be off our running on the next year.
SPEAKER_02Well, okay.
SPEAKER_03If somebody put down a free swimming family in that place, they carry rate it.
SPEAKER_00I mean, it's on county records as a as a three family. I mean, it's been that way forever.
SPEAKER_03There's not three, there's not three boilers, there's not a heating system. So I don't know what that's not a heating system. Somebody's gonna miss that in winter.
SPEAKER_00I I I understand that. Are are you sure you didn't miss it? Are you sure it's just not missing?
SPEAKER_03This is what we do, man. We flipped all, and I was heating system and there's roof, it's a leaking roof, so it needs a new roof. I don't know who um took pictures, but we can't fix my new tomorrow.
SPEAKER_00Oh, I already knew it needed a new roof. I I have that in the notes. I mean, I know that it needs a new roof. I I'm I'm very aware of the condition. Um, what I'm saying is, is I also see the potential of what this property could be, and I think you did too, because you offered 70 on it. And and uh what I'm saying is as the wholesaler, I have people interested, but I like you guys. You went and saw it. Some of the other offers, one has not seen it yet, okay. So my concern there is that they're going to leverage that against me. They're gonna go see it and then price drop me and do that game. I like the fact that you guys went and saw it and made your offer. Unfortunately, in order for me to sell it at the offer that you're you're saying right now, uh, I would have to write you a check to do that. And I I I'm in the business of making money just like you're in the business of making money. So what I'm asking is is is there can you come up on price at all so you can get the potential of this deal that you're seeing? Because I'm not asking for a lot. I'm asking if you just come up a couple of thousand.
SPEAKER_03What what are you asking? 200 more?
SPEAKER_00Preferably I'd want you, I'd want you as close to 80,000 as possible.
SPEAKER_03Oh well, so you you kinda tell me, tell me what you're talking about because I right now I'm I was in my head saying, why did I I tell uh Solomon 70? I was gonna say 60 when I left him after I processed what I had to go to. You can ask him, I was watching myself down with sanitizer running out of the place. My skin is the crawling just going in there.
SPEAKER_00But that's what you do. That's that's that's you're you're the person to fix that. That's that's that's what you do, just like I've lived many houses. The you know when we gotta walk in the houses that are full of cat pee poop, cockroaches, all that stuff.
SPEAKER_03Because this is like I'm going in at a lot.
SPEAKER_00I'll tell you this: you buy this deal from me, and I will bring you every deal that I get in Albany, New York. But I need you at minimum at 77,500.
SPEAKER_03Let's let's do something for half.
SPEAKER_00Can't do that. I can't do that because I gotta I gotta take care of your broker, and uh, I got a kid that eat. You have you you've had kids. Have you had kids?
SPEAKER_03I have kids and I'm a single mother of three.
SPEAKER_00You so you know how much they eat. You've gotta own a hundred doors just to feed them.
SPEAKER_03I went to I went to Walmart, Walmart of all places. All I bought yesterday was fruit and vegetable. I spent almost$98.
SPEAKER_00That's what I'm saying. That's why I need you to come up to$77.5. So your guy can get paid, I can get paid, and I can feed my kids. That's all, and then I can go watch the NBA Finals. That's it. Go Mavericks.
SPEAKER_03I just want to eat dinner. You want to go watch the NBA Finals?
SPEAKER_00It's$3,500. That's not a big difference. You said$74, I said$77.5.$3,500. That's that's baby. That's nothing.
SPEAKER_03All right. So let's let's cut this$35 and a half in the half. One by two.
SPEAKER_02You're killing me.
SPEAKER_00You're killing me. Let me make some money. Uh I said I'll bring you every deal that I get in Albany, New York. I won't even call the other people. I just come straight to you. Well, I I gotta go through your guy here. I gotta, I gotta, I can't, I can't skip him. I told I promised him I would not do that to him.
SPEAKER_03So I also know I'm gonna see that buyer. I have to deal with the week. So I know Bush in it knows me, and I know him. So we are just buying.
SPEAKER_02All right. So seven so seventy-seven five.
SPEAKER_03Let me do the math.
SPEAKER_01We'll do the math. You do it.
SPEAKER_00Seventy seven five. Don't forget my five hundred dollars now. You do what I do when I buy houses. You I do that right there. You must watch me on YouTube. That's what you you watch me on YouTube because that's what I do. Oh, the five hundred. Oh, that hurt.
SPEAKER_03You're like the pain of the five hundred dollars. So we're gonna split it thirty five hundred into two, a thousand seventy-five, one thousand seven and a fifty plus seventy four, that would make me thirty five twenty.
SPEAKER_02Okay.
SPEAKER_00Miss Queen Buyer, earmuffs. Okay, you can't listen to this. All right. This is just between me and Howard. Howard, will you take a$500 price cut since she's cutting me in half?
SPEAKER_04Sure.
SPEAKER_00All right. Miss Queen Buyer, are you ready to buy now? What what it what how how low did you how low did you kick me to the curb? You said 75-5? 75-7?
SPEAKER_0375-5.
SPEAKER_00I think you just whacked me another couple hundred. All right. 75-5. Because you gotta buy more fruits. And uh I'll see. I guess my kids are gonna eat ramen. Alright, very good.
SPEAKER_03No, that's not true.
SPEAKER_02All right, Howard. Um Albany. What's that?
Assignment Details And Closing Plan
SPEAKER_03Albany and what you need at Roman didn't all right.
SPEAKER_00So Howard, here's what I need. I I can send you over the assignment uh for the 75.5. You have already have an agreement, correct, where you're getting your your cut, or do I need to include that in my agreement?
SPEAKER_03Yeah, put that in your agreement.
SPEAKER_00Okay, so I'll put that in in the agreement that I sent over, and then um I have H Solomon sells homes at gmail.com. Is that correct?
SPEAKER_03Yeah, so you'd be 73.5 and I could just sell.
SPEAKER_00Okay, then I'll do that. So you're gonna make sure that you get your your two grand from the the closing attorney and with your own agreement, and I'll just put it in for the 73.5.
SPEAKER_03Is that how you want to handle that?
SPEAKER_02Yeah, okay.
SPEAKER_00Okay, and then as far as closing, uh, how long do you need before you can close?
SPEAKER_03Well, with the cash fire, as long as the title will take, like I was telling your other guy there. The title, the title, yeah, we're gonna have to do title side.
SPEAKER_00Absolutely. Yeah, absolutely. I just want to make sure that you didn't need a specific time frame. Yeah, okay. We okay, very good. And then as far as earnest money deposit, how much earnest money do you typically put down on your deals?
SPEAKER_03I give me 5,000 today.
SPEAKER_00There you go. 5,000. Okay, so I will get this written up. I'll send it over to Howard. Howard, if you can afford it on. Um, I'm just gonna leave Howard. Is it possible for you to text me an entity name to put down, or or do you want her to just fill that out after when she signs it?
unknownUm what do you mean?
SPEAKER_00For her name and everything? Yeah. I know I I I know you've been burned in the past, so I don't want to do anything like that. So do you want me to just leave that where she fills in her entity name and you forward it on to her, or do you want to give that? Okay, all right. Well then I'll fill it out.
SPEAKER_02My name is RJ Bates the third. Yes, ma'am.
SPEAKER_00You didn't tell me your name, but you're not allowed to, so you're just Queen Buyer of Albany.
SPEAKER_02Your name is Patience? I I feel like I I if that's not your name, it should be.
SPEAKER_03Yeah, if I do.
SPEAKER_00Okay, well that's be that's a beautiful name.
SPEAKER_03I haven't got a you do.
SPEAKER_02You do all right, guys.
SPEAKER_00Well, I appreciate y'all. I'm gonna get this sent over to you, Howard, here probably in the next, I don't know, 15, 20 minutes. And then uh, yeah, we you can make the earnest money deposit tomorrow. Yeah, tomorrow, preferably, because it's Friday, and uh we'll we'll get everything rocking and rolling from there, okay, patience.
SPEAKER_03Okay, thank you.
SPEAKER_00Thank you, thank you, Howard. Okay, all right, we'll see you soon. Bye bye.