Real Estate Success: The Power of Taking Action with Derek Harms | Part 1 #866

Derek is well respected within the industry, not only for his high ethical standards but for conducting his business honestly and morally while doing absolutely everything in his power to ensure his clients’ success.

An active investor and award-winning realtor, Derek is connected in many different facets of the real estate industry. He purchased his first investment property in 2010 for $22,500 and since then he has owned and been involved in flipping houses, mobile home parks, apartment building syndications, development, property management, lending and creative financing. He currently spends most of his time managing his company, We Buy San Diego, cumulatively, focusing on single-family and multifamily, renovations, sales, and rentals in San Diego county.

Derek joined NSD REI Board of Directors in 2014 and has served as president since 2019 Derek currently lives in point Loma and when he’s not enveloped in real estate, you’re most likely find him enjoying all kinds of outdoor activities. 


In this episode:

• Getting married, “when you know, you know”
• From Athlete to Real Estate
• Important takeaways from playing collegiate sports
• Building his real estate team
• The impact of his early mentors
• Marketing and direct mail

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


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Narrator: 0:01

Welcome to The Norris Group real estate podcast, a show committed to bringing you insights from thought leaders shaping the real estate industry. In each episode, we'll dive into conversations with industry experts and local insiders, all aimed at helping you thrive in an ever-changing real estate market. continuing the legacy that Bruce Norris created, sharing valuable knowledge, and empowering you on your real estate journey. Whether you're a seasoned pro or a newcomer, this is your go-to source for insider tips, market trends and success strategies. Here's your host, Craig Evans.

Bruce Norris: 0:45

Thank you for joining us today our special guest is Derek Harms. Derek is an investor and realtor and he owns The Derek Harms Group. Derek is well respected within the industry not only for his high ethical standards, but for conducting his business honestly and morally while doing absolutely everything in his power to ensure his clients success. And Los Angeles native and longtime San Diego. Derek thoroughly understands what California living is all about. Having graduated from Sonoma State University while playing on the World Series Baseball team. Derek implemented the humility and selfishness learned from years of being an athlete into the real estate practice in depth local market knowledge and innovative marketing techniques aside, Derrick also possesses an advanced set of negotiating skills demonstrated by designation associated with less than 1% of the realtors nationwide. master certified negotiation expert and active investor and award winning realtor. Derek is connected in many different facets of the real estate industry. He purchased his first investment property in 2010 for 22,500 and since has owned and been involved in flipping houses mobile home parks, apartment buildings syndications development, property management, lending and creative financing. He currently spends most of his time managing his properties. We buy San Diego cumulatively focusing on single family and multifamily, renovation, sales and rentals in San Diego County. Derek joined NSDREI Board of Realtors in 2014. And as served as president since 2019. Derek currently lives in Point Loma, and when he's not enveloped in real estate, you're most likely to find him enjoying all kinds of outdoor activities. And he just got married. Welcome to our show, Derek.

Derek Harms: 2:48

Bruce, it's always a pleasure, that's for sure. I don't see you as much as I used to. But the times I do get I cherish.

Bruce Norris: 2:55

I appreciate that very much. Yeah, it's some of my most exciting nights have been with you during the Q&a. It's been a lot of fun in front of the audience and in San Diego. And a lot of times it's been at kind of crucial times where the markets switching. So Derek, tell me a little bit about your journey as an adult even okay, because I, we just talked about you just got married, and or excuse me getting engaged. So I'm sorry, I got engaged. And so what was your young adult? I know you played some baseball. So take me through that journey of being an athlete and then how did you land on the square of real estate?

Derek Harms: 3:43

Definitely a long, broken road that ended up my current destination. But that's half the fun. In Yeah, so actually, I did get married actually, this past weekend. I got engaged.

Bruce Norris: 3:56

Okay, I knew you got engaged. I didn't, got married. Congratulation, wow.

Derek Harms: 3:59

Thank you. Thank you very much. I appreciate it. We had a beautiful wedding. And it was just incredible. And it's what? It's Thursday. And that was on Saturday and the dust is now just starting to settle and the fog lifting from, you know, family and fun. And, you know, just a bunch of a bunch of planning. But anyway, we're feeling good and happy. And so thank you. Actually, you got to meet Brooke at the anniversary party dinner in June last, June at the NSDREI anniversary dinner. So that was in memory or you may not remember her.

Bruce Norris: 4:34

How long have you known each other?

Derek Harms: 4:36

Not that long, Bruce, like coming up on a year and a half. And, you know, it's I I knew what I knew. And so did she and you know, I proposed to her after knowing after knowing her for about what 10 months.

Bruce Norris: 4:52

Okay. Well, I completely agree with that philosophy when you know, you know.

Derek Harms: 4:57

Yeah. Yeah.

Bruce Norris: 4:59

That's it, it doesn't come along. When so when you recognize you go, wow.

Derek Harms: 5:06

Yeah, yeah, I think just you know, without getting too deep into it over the years, I think I learned more what I didn't want and which really illuminated what I did want once it was there in front of me, it was just like Claire's Claire's day. So it was really good. I'm blessed. I have a very, very amazing woman by my side now forever.

Bruce Norris: 5:26

Very cool.

Derek Harms: 5:27

And anyway, got married this weekend. But backtracking to kind of the elevator pitch as to how I landed where I am now and how I got into the industry. Yes, I played college baseball, and I was good. I wasn't great. And in order to be, you know, a professional baseball player, which is always where I wanted to be, since I was a kid, you have to be great. You have to be elites, you have to be, you know, top fraction of a percentage and luckily, back in high school, my high school coach sat us all down and broke down the numbers, which I thought was kind of cool. It was like, Hey, here's the reality, most of you guys are gonna grow up to become professionals in a sport and something else other than a sport like and he broke it down, it was like some fraction of a fraction of a percent of people ever even get a chance to sniff the big leagues. And that always resonated with me. I got through college, play college baseball, we played in a college world series. And at the end of it, I kind of was like, alright, I have some friends of mine that I've seen go through this and get kind of stuck in minor league purgatory for a long time and you make no money and then you're 10 years behind schedule on starting a career and I didn't want to do that. And so you know, I said, alright, let's just go figure out how to how to make some money. I had no answers at the time I graduated college and actually moved back in with my dad for a brief period of time to make some money. I got a job bartending. But funnily enough, this bartending thing opened the door for me. So I, I ended up while I was bartending, taking a bunch of weekend seminars, you know, going to see some of the guys like we talked about, like A.D Kessler, like I went to a bill Bartman training that names not really ringing bells, but he talked about buying bad debt, delinquent debt. And I actually started an LLC and like, bought up a tape of debt, and I lost$10,000. And that's all the money I have time like trying to do this, you know. But you know what, at least that was like being entrepreneurial. And I knew there was more out there than bartending and I was looking for a path. And even though that wasn't the right one, it's still kind of wet the whistle a little bit to keep going. And so I started taking other weekend seminars, and ended up taking a Tony Alvarez REO mentor seminar, and that was back in 2010. And then I got really lucky on the timing. And I did it on the weekend. And by the next week, I was out there pounding the phones based off of a script, and a, you know, a bunch of agents that I called, all told me to kick rocks, and I'll never forget, one specifically said to me, 'Hey, you sound like you're some kid that's reading a script.' And I said, I am. This is, I just learned it last weekend. You know, hey, at least I'm out doing it. But over a few weeks, finally, I got one receptive agent and she was very sweet. And she's like, Hey, I just got this listing in Barstow. It comes on the market in a few days, you want to come look at it. And it was a two unit property in Barstow and I ended up buying it for $22,500. And that was it. That was my in that was what I needed. I didn't have 22,500, but my dad, did. And my dad had owned some properties over the years. So he recognized that, you know, hey, look, I don't know how you really lose if you buy two units for 22,500. So he looked lent me the money to buy it. And, you know, from there, I bought it and I would drive three hours from Ventura to Barstow every morning to go and work on the thing and you know, sweat equity, while I would drive home in the evening and bartend. And I did that for a few months until I got the thing rent ready. Put a few tenants in it. A couple, put a couple of tenants and it was it was a duplex, learn how to be a landlord for a little while. And after a few months of that, this is where I'm landing the plane on the bartending thing. So the guy that was a regular at my bar had come in and he would always talk a little business. I told them, I was getting into the real estate thing or I was interested into it. And he ended up being like, 'Hey, I'm looking for another investment here. And you have anything? 'and I said,'Well actually I do that I'm selling for the great price of$52,500. Would you like it?' And so it was a 30% spread over what I bought it for minus the money I put into it, I made like 20 something $1,000. And at the time, that was like an annual salary for bartending. So that was what I needed. I needed that catapult that amount of money, the cash to realize, like, hey, this, this can work. And then from there, I started buying other properties and getting into different little niches, which we can get into if you like, but that was like how I got started. And it just so important. When I talk to people who are in similar space, or they're coming out of college or whatever, it's like, hey, just you know, don't worry, there is a path, there's a door that will open at some point, you just got to keep doing stuff, go out and take action and something will happen.

Bruce Norris: 10:55

As always happens whenever I do an interview, I you know, you'd write down questions. And the second question is never the second question because I listen to your answers. So first thing, you losing money on your first attempt, and you still crying tells a lot about you. Really does, because most people touch something, lose money and okay, that's that. So I wanted to know that did sports? How did sports impact who you became?

Derek Harms: 11:24

I think a couple things. You know, I always wanted to be better. And I wanted to be elite. And I wanted to have excellence in baseball. So I think that mentality definitely carried over. Like I'm very disciplined. And in order to be good at a sport, you have to be disciplined. There are those few psychos that are just born with more talent than anyone else in the world that don't have, but at some point that will catch up to you. Especially as you age but but for the most part, like the discipline level. That is I think what I took over the most. And then maybe secondly was the team sport aspect, because real estate is a team sport by far and large. And initially, I didn't quite understand that. And but now that I've been doing this, and you know, hundreds of deals later, I could not be where I'm at without my team. I mean, I depend on them every single day. So for me, I think it's discipline and camaraderie and having the team lens you're looking through.

Bruce Norris: 12:24

Tell me about your team, you're talking about people that do the whole gamut, refer you properties, repair your properties, manage your properties. Is that part of the whole team now?

Derek Harms: 12:35

Yeah, so I feel like I have like a like a small knit internal team. And then I have like kind of levels of people I call my team. And I'm doing air quotes for those of you listening in on audio, not video. So I have issued me a full time assistant. And her name is Lawrence. And I could not be more proud of her and happy for her like the way we met. I'll explain that in a second because again, these things just line up. It's really cool how when you just take action, things happen. But she's my full time assistant. She's amazing. I have an Acquisitions Director, his name is Drew. He's out there looking for deals, and he's answering our phone calls from our inbound marketing, we do a lot of direct mail and other types of marketing. And so in the phone rings, I used to answer the phone. And now Drew does that. And so those are like my two team members, right? Lawrence is a W2 employee and Drew is 1099. But then outside of that, where are we I have more very interval critical team roles is my contractors. I've got one main contractor that I've used for many years, trust him. And we can essentially finish each other sentences. And What year was that? I can I, know his numbers almost better than he does now. Like, I'll go walk a property, and I'll essentially send him the bid. And he'll just look through it. And we'll be like, okay, yeah, that's right. So I have some adjustments here. And but for the most part, we're completely linear. And then, you know, from there, it extends out all the way yes, my property managers who manages our rentals to our escrow officer, which is probably one of the most critical parts, especially when you're doing off market transactions. You get us skittish seller, right, you get a homeowner who sees a lot of scams and things on the internet and the escrow officer can be that that voice of calm and peace, that really is the glue that keeps the deal together and make somebody feel comfortable selling a property to you. So you know, and this extends much further outward Bruce like I could go on for like how many people I would consider my team you know, real estate agents that bring us deals constantly. Or, you know, just confidants that I reach out to regularly I'm on text threads with a bunch of developers here in town who are just so much smarter than I am in that space. and I pick their brain regularly. But so yeah, that's my core team. And the assistant thing I want to mention really quick because, you know, I think this may happen for a lot of people, right. So I didn't know what I didn't know, this was maybe seven or eight years ago, and I was I took Mike Cantu's Don't Get Voted Off Real Estate Island. And I'm like, Hey, I really liked this direct mail thing. I'm gonna give this a try. And I started doing it on my own. And I had my full desk full of white, white and red, I think that was maybe 2016. That was her first year with me, white and blue envelopes. And I was handwriting these things. And I'm like, geez, I can't do this at scale like this is, you know, this can take me forever. And so I ended up asking our office manager who like manage the front desk at the office space, I had rented, like, 'Hey, do you know anyone who would want to help the handwrite some of these things and put the little return address in on it?' And she said, 'Well, how much you paying?' And I say, I forgot how much it was. But it was like, not much. It was like 25 cents an envelope or 10 cents. I don't remember. But she was like a cheat. She was like, 'Yeah, I'll do it' like this great. And she's like, when do you want to like alright, so Mike says we got to have in the mail by Friday. So they arrived on a Tuesday. So I need them by Friday. And anyway, that was the beginning of this mazing relationship where after she started doing that for a while, I'm like, wow, I gotta keep her she's incredible, and ended up at the time not having the money, but was like, hey, I need to hire you full time. I know, you'll add value. And I can see this blossoming. And you know, at the first year was maybe a little tough. You know... I think was it and I was still getting my wings. You know, it might have been a little later, I'm getting fuzzy on the year, but I was still getting my wings underneath me in you know, in the investment space here in San Diego. And I, you know, the it was a commitment at the time, at the time, I had a partner, as well. And then we kind of went and did our own thing. But I kept Lawrence and I just I you know, she's now I honestly I wouldn't couldn't see my business without her. She has retirement plan now and health care and all this stuff. And it's, I'm happy to do it. Because it's she is the reason I can go out and do what I can do.

Bruce Norris: 17:32

That's fantastic. I love that yo, well, it's very interesting that you were successful, making a transition. So Tony Alvarez taught you what he knew. And that's how to deal with agents and buy REOs, right. So but that was the timeframe that you kind of came into the business. There was a lot of that going on, say from 2008 to 2012. That was a dominant product. But after that, the market changed. So by 2016 there's no REOs. And to get, you got to dream up a whole new skill set. And that's what you did. You took another guy's who's very successful, not as much as REOs, but in all the all the day to day. mailings. And you know, he's bought, probably more people directly properties struggling for people than anybody I know. And Mike Cantu, by the way, do they both know they've been a part of your success? Absolutely.

Derek Harms: 18:27

I talk to them both regularly. You know, it's come I don't think he would mind me saying this, that it's come full circle with Tony. You know, like I he's now a part of some of my deals here in San Diego. And I remember shedding a tear the moment we closed on that first one. And like I get a little emotional about it now because it was just this like this amazing, like, turnkey, you know cycle right? I started at this like dough yard kid at his event. And, you know, come a decade later, and you know, I've got a beautiful house and real estate portfolio and and now Tony is part of a, part of my deals like feels confident in me enough to do that. Like it really, it really makes me feel really good.

Bruce Norris: 19:21

Very cool. Now, he and I just spoke in San Diego together. So that was pretty cool.

Derek Harms: 19:27

Yeah, that was at the White Feather with Buddy.

Bruce Norris: 19:30

Yeah. And Kimberly Rushing. Yeah, Tony, I called him up. I said, if you join me, I'll do it. Let's do it.

Derek Harms: 19:39

So that's awesome. Yeah, I wasn't getting married this past weekend. Tony texted me. He's like, Hey, are you around? I would have loved to have gone in and hung out. But I had other things I had to take care of.

Bruce Norris: 19:52

Yeah, you know. We got Tony to speak for, the first time we ever spoke was in an event of ours, and I just knew he was going to light it up. He wasn't really sure. But I said, no, no. Now you're going to you're going to change people's lives tonight. So that's very cool. My best memory is people lining up to hug him.

Derek Harms: 20:16

Oh, yeah, Tony's hugs are second to none.

Bruce Norris: 20:19

Yeah, but I mean, that's just, that's who this guy is. And I think that's why I wanted people to see that that's why he's successful. Because people respond to him as sellers, realtors, and Tony has a way and it's not a manipulation. Tony cares so much about you that you are part of his family, right now. He'll do anything for you. And you just pick that stuff up. And so he probably gets more referrals. You know, when when there was agents that had properties. He was the number one person where he was competing against him. I think I'd have moved.

Derek Harms: 20:56

Yeah, seriously.

Bruce Norris: 20:58

Because he just he's loved and for good reason. So Well, good. I'm glad to I'm glad to know both of those guys. impacted your life. Mike Cantu did not enjoy speaking in the beginning at all. We had a lunch I don't know if you know this. He was going to speak at a jack Miller event. And he said I would pay you five grand to take my spot. But I can't do that. So he came to lunch with his hand written. Like talk. I said, Mike, you don't need to read this. You know the business inside and out. Tell one of your stories. So you can relax. And he calls me after he gets done to a standing ovation. He calls me he says, Now I see why you'd like to do that.

Derek Harms: 21:45

Yeah, that's so cool. I mean, I credited Mike I. So I don't know exactly why. But my iPhone now will randomly just play Don't Get Voted Off Real Estate Island. And I mean it like I'll be at the gym or something will happen. We're all plugged in or unplugged. And it defaults to that. And I still don't know why. But every time it does, I listen. And I'm like, wow, this is so relevant. Like all this is so relevant to today. It's just, it's timeless. It really is.

Bruce Norris: 22:19

When the when Tony first spoke, he was one of about five speakers. And every one of the speakers was hand selected for a very specific skill set that they had Jack Fullerton, he bought every house by roaming around the neighborhood and knocking on the door. And just saying hi, you know, anybody wants to sell, another gentleman was a door knocker of foreclosures. And everybody had their niche. And I thought, boy, let's assemble all these guys. Because if I'm in the audience, I'm gonna say I resonate with one of their methodologies, let's say. And so that was fun. What hats do you wear in the real estate world besides investors, if you do?

Derek Harms: 23:02

So it's changed over the years, I started, like I had mentioned buying a property. So call that the investor hat. And then I believe in 2012, I got my real estate license here in California. And at the time I had, I wasn't living in San Diego and I knew I needed to get back to San Diego. I had I had gone to college here and I just love this place and knew I needed to get back. But the price points were a little higher than what I was used to. So I needed in other words...

Bruce Norris: 23:37

In Barstow? Yeah.

Derek Harms: 23:39

Yeah, exactly. So I got my I had my license and I started at that point, just being a realtor out here and I was finding deals for other investors and then ended up partnering with one and a great one and her dad and in you know, I have had a great time with them. And so that was the hat that's kind of gone away a little bit I still every now and then will will list a house for sale. Whether it's one of my own properties, or it's you know, a friend or family member or something like that. I don't enjoy the agent side of the business. I just really don't I really enjoy, my favorite part of this is the hunt for a new property. I love that component of this. And now I'm slowly starting to get into the development side. Whereas in San Diego has some pretty new and laxed legislation in terms of building density and I know ADUs are not necessarily your favorite thing. But they can be extremely lucrative here in San Diego and so I love that component and mainly also just you know, I still love flipping houses I really enjoy it before we got on the air I was like geeking out about this like kitchen in this multimillion dollar home we're doing and I love that component of this business I don't think I'll ever get away from that. But you know, I have a rental portfolio that that, you know, we met I don't personally manage I have property management that handles it. I do have two Airbnbs. And that's handled between my assistant and I, we've got that kind of on autopilot. And also the I'm the president of the NSDREI, which is a real estate investment club in North San Diego, which you've been a part of for a couple of decades now.

Bruce Norris: 25:41

Very, very cool club. What percentage of your deals would you say come from referrals versus just initiating a search out of the MLS? And mailers but what percentage you would say referrals, MLS efforts, and mailers?

Derek Harms: 26:07

Yeah, so just if I based it off 2023, I can tell you almost exactly what our numbers are. So we were like 60% referrals from agents and other wholesalers or whoever we've worked with for years. We about 30% mailers, and another 10% kind of MLS searches are just kind of other other ways. But for us, for us, it's mostly people that we know, like and trust and they like us and trust no will close and and direct mail. And you know, we've actually, we're doubling the amount of direct mail that we did last year, based off of the return we got last year, we feel that there some some really good opportunity for it for this year. And for those listening, I can tell you some of the numbers. So let me pull up my spreadsheet, here. But for mail, you're lucky if you get a 1% response rate. And if you do, you're doing pretty good. And if you get higher than that you're doing really good. We've had certain campaigns get as high. Let's see, in 2023, the highest campaign response rate we got was 1.39%. The lowest one we got was point six 2% not all depend on your list and your message. But you know, for the most part, we had like a, let's see, we spent 56,000 on mailing last year, and that turned into like, what 500,000 or so and no 300,000 in revenue. So you can do the math. Like, that's a pretty good ROI.

Bruce Norris: 28:00

Absolutely.

Derek Harms: 28:02

Yeah, so we're gonna double that. And we're gonna do a little over 100,000 in mailers, mailer spent, and I don't think the ROI will double but the way I understand marketing, and it's not that high of a level, but it'll decrease about 10%. So, but for me, I'll take those numbers all day.

Bruce Norris: 28:22

So, what's the criteria of who you mail to? Are you looking at a house in an area that could add square footage or an ADU or?

Derek Harms: 28:30

So it changes every, you know, if we're doing like, right now we're doing 6000 a month, and we do a little more targeted mailing and we do a little more quality and so 6000 a month can be nothing to somebody or that can be a lot to someone else depending on like the style you're using and and how it goes. But like Bruce, we'll experiment with all kinds of different lists, right, so we'll do we'll do out of state owners will do certain neighborhoods, if there's an area like we just did one couple months ago, that was based off of zoning and this very specific zoning that I wanted in certain neighborhoods, because I know if the density laws in that zone are very beneficial. And you know, so we'll play, we start with PropertyRadar. That's how we do all of our lists. We start with PropertyRadar, and we just start thinking about alright, what can make sense this time we just sent one out to age dependent criteria so 65 or older that have certain criteria and the size house that we're looking for, etcetera. And really what we found is there's no magic list, you know, there's no magic button or like secret letter or anything. This is consistency. If you do this evey month and your you follow up like you will get deals from this. And there isn't some like magic pill to swallow or like some secret data I can give you to go in and figure it out. You know, we've done some things where we've hired like college kids to drive around, and they'll take the PropertyRadar app with them. And I'll say, I'll drive with them initially and say, 'Hey, let's go drive through a neighborhood. I'll identify what I think looks like a distressed property in terms of maybe maintenance, it needs indoor, this house probably the insides indicative typically of the outside, we found in in, in most situations, and so' we'll do some driving for dollars. That way, we'll pay some people to do it, and then upload it into PropertyRadar. So it's already there for us. And then we can just easily mail to them. So but yeah, so that's how we choose. It's there's a lot of different criteria.

Bruce Norris: 30:59

When somebody calls somebody, always live answering the phone on your side?

Derek Harms: 31:05

Yes. So the way it used to work is the on the bottom of our letter. And while we still do this, so the bottom of our letter has a phone number, each campaign has a unique phone number. So let's say we're targeting out of state owners with 30% plus equity, that the primary owner is seven years of age or older, something like that, right. So the unique phone number will then go through what we use is called CallRail. And it has a whisper message before the phone answer. So my phone will ring. And it'll say out of state owners 70 years plus something like that, it'll whisper to you quickly before connects the call. So you know which hat to put on, in terms of which campaign this is so you know, more or less how to talk to the seller.

Bruce Norris: 31:56

Have you ever mailed instead of letters just offers?

Derek Harms: 32:04

I have never done that. I put a amount of money I'm looking to spend in my mailer. And and I've gotten all kinds of interesting responses to that. Like, 'how dare you offer 600,000 for my $2 million house?' And I'm like, Well, you know, Miss This is not an offer. This is just you know, about more or less how much money I'm looking to spend. But if I'm sure we can I can find more money if I have to that kind of a thing. No, I haven't done it. I know people that do it. I actually get some of those sent to, you know, the rentals that I own. And a guy here in town, who's got a pretty large operation is now literally sending checks. Like it'll it looks like a check, like one of those envelopes you get. And it's like...

Bruce Norris: 32:54

I've done that.

Derek Harms: 32:55

Yeah, see you we're the probably the pioneer for it.

Bruce Norris: 32:58

Well, you know, it was interesting. I was always trying to chase down what's next, you know, so we did we mailed offers for me with the price. And the first time I did that actually bought 10% of the mailer. Which was great. Yes. I drove the neighborhood and did all the looking at it, you know? And then I said, Okay, and so we whenever we said I bought three houses that was in Marina Valley.

Derek Harms: 33:26

And so were you actually coming up with a bonafide price or was it more...?

Bruce Norris: 33:31

Absolutely. That was my offer.

Derek Harms: 33:33

Okay. Oh, wow. Okay. That's yeah.

Bruce Norris: 33:36

I remember one of them. It was interesting. He owned two houses, one he lived in and one across the street. And he said to me, because the offer was 35 grand as it was on all the other houses. And we're signing the paperwork on top of his car. And he says to me, you know, it's it was the same house across the street. He said, just so you know, you couldn't buy that one for a dime less than 80 grand. But he signed this one for 35. That was the difference between well, he said that about the one that that we were at where he lived, the one he lived in had to be 80 grand over there and he could care less that was a rental which always stuck with me. That's a not my house anymore. You've already like written it off. couldn't wait to get rid of it

Derek Harms: 34:19

That was sentiment about I guess your own four walls and a roof rather than a rental.

Narrator: 34:25

For more information on hard money loans, trust deed investing, and upcoming events with The Norris group. Check out thenorrisgroup.com. For more information on passive investing through the DBL Capital Real Estate Investment Fund, please visit dblapital.com.

Joey Romero: 34:44

The Norris group originates and services loans in California and Florida under California DRE license 01219911. Florida mortgage lender license 1577 and NMLS license 1623669. For more information on hard money lending go to thenorrisgroup.com and click the hard money tab.