Direct Mail That Pays Years Later

A seller calls back years after a mailer and it kicks off a bigger question: are you building a real pipeline, or are you feeding a short-term dopamine habit with “instant” leads? We get honest about pay per lead (PPL), PPC, and why “cheap” leads often mean the same seller blasted to everyone, slower follow-up, and worse conversion. The fix is not a magical channel. It’s knowing your numbers cold: cost per deal, average profit, speed to lead, and when to turn marketing dials up or down.

From there we go deep on real estate data. We talk competition, list stacking, and why AI scoring can actually hurt you in crowded markets by filtering out the very owners you need to reach. You’ll hear practical tactics for finding opportunities your competitors miss, including pulling legacy lists, watching list turnover, and even using mapping tools when basic city searches fail. We also hit market reality checks like days on market and how new construction can wreck resale demand.

Then we switch to a live underwriting walkthrough of a mobile home park deal using AI to process a rent roll fast. We break down what lenders really care about, how debt service and expenses squeeze cash flow, and why “value add” often comes down to two levers: raising under-market lot rent where comps support it, or buying real vacancy so infill creates forced appreciation. If you want sharper acquisition instincts and fewer bad bets, this one will recalibrate your approach. Subscribe, share it with an investor friend, and leave a review with the lead source you’re betting on next.

Transcript

Zoom Glitches And A Mail Story

SPEAKER_04 0:17

You're on mute if you're here. Walter, what's up, man? Mike, good to see you, man.

SPEAKER_02 0:26

Oh, God dang. Mike Fisher's driving like Travis Wells and zooming. This is this is scary.

SPEAKER_04 0:34

Oh, my camera's not on. What in the world is going on?

SPEAKER_05 0:37

All right.

SPEAKER_04 0:40

Hold on, it's still uh blurry here. All right, we're good.

SPEAKER_02 0:45

There we go. Don't even have your property profits lit up in the background.

SPEAKER_04 0:49

My dog chewed up the cord. No lie. Like custom sign. You see it behind me. Dog just chewing the cord in half. I need to get it fixed.

SPEAKER_02 1:00

You just rewire them together.

SPEAKER_04 1:02

Yeah, but gee, there's like a gee, there's like a connector that makes it dim up and down, too. Oh and that's gone also. So I don't know if she swallowed it or yeah, no, no, trust me, I just put it back together, but everything's missing. Thanks for hopping on. There'll be some people hopping on through this. Um but good good to see you, man.

SPEAKER_02 1:29

Always. How are things going for you?

SPEAKER_04 1:31

Good. And just to start this call, I just right now got a voicemail from a lady that we mailed years ago. This happens like every day.

SPEAKER_05 1:41

Check this out. No? No.

SPEAKER_02 1:52

No. Okay. Okay.

SPEAKER_04 1:54

But anyway, she's like, you she's like, I don't know, she's a Chinese lady or something. She's like, you mailed me a few years ago about my house on Marguerite Street, I'm ready to sell.

SPEAKER_02 2:07

It's amazing that uh, you know, it's like we need to do more video testimonies of it because people don't believe us that they'll get they'll get mailers, you know, years later that you know that they paid for, you know, years prior to. And they they want to look at in direct mail and and that stuff in a 30, 60, 90 day window, and then they don't ever look at it again as you know, cost effectiveness. Um so it's just kind of one of those things as it goes through it. Yeah.

SPEAKER_04 2:38

So what

Why Cheap PPL Leads Disappoint

SPEAKER_04 2:40

um I guess so. Here's my thing. Here's why I thought it'd be cool if you if you came on here, this would be recorded too, uh, for the people that that are gonna be watching. But people are doing PPL, they're doing PPC, they're doing all the stuff, which I freaking hate PPL. I think everybody's competing against themselves in PPL right now.

SPEAKER_02 3:00

As yeah, I as we get deeper into it and I understand it more, um, they are competing against themselves. There's ways that it's coming down that cross-pollinates with it, but ultimately the cheap leads everybody has. Um, so if you're playing in that pool, yeah, it it's all cross-pollinated. And usually those are the ones that, you know, they fill out 10 different, you know, 15 different forms, and it all, you know, it all comes down and nobody buys in that area, whatever it is. If you're playing nationally and you're playing in pockets that are less populated, so you can get your cost per bid down. Don't get into the highly competitive markets, get into those secondary and tertiary markets where you can still wholesale or wholesale at a good clip, um, and then and then actually pay for their high-end leads, their their speed to lead uh is faster. Um, so like for us, uh, if we sent out direct mail, we qualify the lead, we post it immediately as soon as it's qualified. If we are utilizing our form fills, which we just turned our PTC and stuff like that on, I think we had 18 over the weekend, and we just turned it on on Friday. Now that's a person wanting to sell, motivated to sell, and they signed up and we qualified them with our call center. Yes, it's gonna be a $300 lead, but it's the freshest and the most motivated. But on the other side of the the cheaper you buy them, the more cross-pollination there is, the longer they've been sitting on the market, the more ability that they've signed up for other things. So I always like I tell people, I'm like, I'd be in four or five different ones because each one is generating their own. Like ours is uh local home solutions, is is what we're nationally doing. So we've had people signing up specifically off of ours. They've been listed within you know four hours of them filling out that form. So those are the good ones. The the other one, it's there's a lot of pollination to it, but it's still the quality of the lead to the money spent, and then how many dollars you spend to how many deals you close. That's the biggest thing is you got to track all the KPIs on the backside to make sure it's worth it.

SPEAKER_04 5:10

Yeah.

SPEAKER_02 5:10

And then have multiple channels turn these up, turn these down, and it's still a guessing game.

SPEAKER_04 5:15

Yeah. Walter, have you ever used mail?

SPEAKER_01 5:20

Um, I haven't, but I've worked for a company that did.

SPEAKER_04 5:23

Yeah.

SPEAKER_01 5:23

And I've got those leads.

SPEAKER_04 5:25

Yeah. How'd you like them?

SPEAKER_01 5:27

Um it's like either super hot, but it's a time game for sure. It's not something like a it's not a PPC lead or something like that where it's immediate. It's kind of like you're saying this old this lady

Dopamine And Short Feedback Loops

SPEAKER_01 5:40

hits you up out of the blue, kind of seed eight months ago, six months ago, kind of thing.

SPEAKER_04 5:46

So here's what I learned in general about this business uh technique. We always feel like it takes us, I think uh if you are in the same boat as me, it feels like it takes longer than it should to learn certain things, like to learn the lesson. Right.

SPEAKER_02 6:02

School hard knocks is a nasty little mess.

SPEAKER_04 6:04

Right. Well, I feel like this business really promotes like dopamine in the way that we're on the short feedback loop. Right? Like it's almost like we buy leads as a we because we've all done it. If we're not doing it now, we it's like we all buy leads like it's the lottery. Right. It's like all that long and it's gonna be the thing, or it's gonna be the deal, and it's it's like short feedback loop. And I think that like prohibits wealthy. Right. I think the longer feedback loops pay the best. But then there's the medium in the middle, it's like, well, how are we gonna eat with long feedback loops? Right. And I think it's just like you gotta you gotta eat lean and build a system with the long feedback loop. I think that's the answer. And I I think mail is one of the forms that provide that.

SPEAKER_02 6:58

Right. And it and it to be honest with you, it all starts with data. You know, all inbound lead generation starts by looking in the right spot. Um, you know, in and data is heavily driven with competition. And what I mean by that statement is you can get into something that is the best data and it's performed really well, and then all of a sudden it just goes to shit. Um, why does it go to shit? Well, possibly, you know, I walked out on stage and and said, oh man, this is the best data. The word got out, you know, that that's the best data, and then all of a sudden competition's on it and it just drives it right into the ground because everybody else kind of doing the same thing in the same area. Um, so it's really good to do your homework, especially with local RIAs, um, just kind of walk through every quarter, every once in a while when they have one, and just ask basic questions of hey, what are you up to? What are you doing? How are you finding leads? And you bring that back to you know, into your input of, you know, this is whatever all my competitions are doing around me. Grat, when you go walk a property, ask them for their old mail, you know, and there's little things in that to to learn what the competition's doing, and then you find a way around that competition. If they keep running the same play, you know, you're gonna find a play that works better. And and finding that is where the gold actually is.

SPEAKER_04 8:18

Yeah, I like a system that and does that make sense what I said, Walter. Do you agree with that? And I'm just finishing that loop there that we exactly.

SPEAKER_01 8:27

It's funny you say that because literally when I make calls, I'm like, this is 20 grand. This is 20 grand. Like literally every time I die, I'm like, this could be 20 grand right here. Literally crashing them off.

SPEAKER_04 8:35

And it that screws us up as humans, like and as entrepreneurs,

Profit Floors And When To Pass

SPEAKER_04 8:40

literally is like the downfall. Uh but it's hard not to.

SPEAKER_01 8:43

Yeah, right.

SPEAKER_04 8:44

And I I had to learn that too. You know, even when I started, do I what's up, Scott?

SPEAKER_02 8:50

I was gonna I was gonna go back to one of the things that Brandon taught you um, you know, years ago when we were doing direct mail is not every deal is a deal. Yeah, you know, it's four, you know, whether you're doing four, six, or eight grand on something, you're you're spending money on that, you're trying to force the deal. And you know, something that it takes a little bit because I was actually I was talking to another client earlier today that's in Maricopa County in Phoenix, and and he's like, Oh, I wholesale around 12 to 15k. And I'm like, your competition's doing 40 to 50. And he's like kind of paused back and looked at me, and I go, You're undercutting yourself and you're not making any money because you're not negotiating hard enough. And but you know, oftentimes just like we we take time to learn to make this stuff work, sometimes we got to get past those hurdles by, you know, utilizing coaching, you know, as you or the stuff that you've learned and you know, we've already got found success on. But it's that that same thing of we hold ourselves back thinking that this this next phone call is 20K. And then of that, we try to force it or we try to push towards it to make sure that one works instead of going, nope, not there. Let's move to the next one, you know.

SPEAKER_04 9:56

And you are energy. Like this is like imagine this being an all your energy in the day. And then you take all the bull crap calls, the bull crap leads, bull crap, and then you get the banger that comes in and you're done.

SPEAKER_05 10:08

Right.

SPEAKER_04 10:09

That's legit how it works. And I learned that you mentioned Brandon. You know, when he was coaching me, I'm like, bro, because I'm making like clothes, right? Like and I'm not profitable at the time. Like it's right in 15, and he's like, no, do you take one out of those 10 deals and just make 20 feet?

SPEAKER_02 10:36

Right.

SPEAKER_04 10:37

And like no, I did a deal with that dude one time because we were calling it like 50. I had a deal we could make 15k. I was like, bro, let's just split it because we we were splitting it, you know, we were handling it. He's like, uh I was like, what do you mean we just put it 7575 and just keep rolling? He's like, nah, like just keep going. I'm like, are you serious? And he's like, I told you our minimum's 20k, just keep going. There was no thought in the dude's mind, right? Whatsoever.

SPEAKER_02 11:07

You know, I was like, well, and that's one of the things I talk to him about quite a bit is like, hey, don't use your area, your the demographic in your area and your ability to close a take a 15 and say no and get it back at 20, because you don't have much competition out there. In these other areas, if you if you get them to say no, like you tell somebody no on 15, they're not coming back because somebody else is going to do it for 15.

SPEAKER_06 11:33

Yeah.

SPEAKER_02 11:33

And you know, in in some of these high comp competitive areas, you have to be careful with that. And that's you know, often with coaching, as we go, um, you know, that that's one of the things is we know what we're really good at in our area. We're kings of our area, and then we try to go teach people how to do it in theirs. We have to take time to learn their area because they're all so different.

unknown 11:56

Yeah.

SPEAKER_04 11:57

Well, and that's a good point. That's why the data matters. Like going back to what you said, I guess you had data in these different areas on what kind of what kind of spreads people are making and should set them bar to.

SPEAKER_02 12:08

And it oftentimes you want to reverse engineer it. You know, it's when you come into the situation, and if you're spending $6k on marketing to get one deal, you need to be, you know, that much further above is the the spread in your deal. So, you know, like Brandon's like $2,800, you know, per deal is what he's spending in his area to get a third, you know, typically he's around $36,000, $38,000 on a deal after it all said and done. Um, but you know, he if if his suddenly goes from twenty, you know, thirty, twenty eight hundred to say sixty, eight hundred, you know, that that that's eaten into his margin. So he needs to negotiate more into that to to find that that spread to make to make sure that he's continuing with that, you know, six, eight, ten acts that he's comfortable with.

SPEAKER_04 12:54

So me and you crushed it in Corpus whenever I was doing it, but then we moved to San Antonio where Raul's at. Right. And and like I struggled because it was so competitive.

SPEAKER_02 13:06

But that's also when you learned that you know, a 4K deal isn't worth it there because you just spent 5k to get it.

unknown 13:13

Yeah.

SPEAKER_02 13:14

You know, that either either negotiate deeper or you know, or keep going. Pass. Right. You know, and that's and that's Brandon's a pass guy. You're a hey, let me negotiate more. Um, you know, you want to get to the close because that's where your dopamine hits the hardest. Like I did that. And and Brandon's just like, he's all about the numbers. He wants that cycle of money. He pays this much, and and we'll just use mail. I pay this much out of mail, I generate this many leads, that many leads gets me this many deals, I make this much per deal. And that money is exiting off and filling up another coffer while he's having that life cycle of the deals. Um, to where he's just constantly feeding that extra money and he's making sure that he's floating in that eight to 10x ROI.

SPEAKER_04 13:57

Well, and and Raul, you're I think you might be

AI Mail Results And List Strategy

SPEAKER_04 14:00

mailing in San Antonio soon. Yeah. Um, that's why I brought that up. It's like you just gotta remember in these highly competitive areas, like your cost per deal is gonna be much higher. So like it it gotta be a deal, but you'll get bigger deals.

SPEAKER_00 14:17

Yeah, that's exactly what I was you know talking to Scott about, like actually focusing on you know, two zip codes that are near me that I see a lot of uh action happening and turnover, just hyper focusing on that, where I can actually, if I need to, I can go run out and see it. Maybe do it face to face and actually close them right then and there.

SPEAKER_04 14:38

Yeah, well, and they got that VA center that I like that qualifies them. Or in worst case, it just gives you like a transcription. You know, it's like, hey, we want this amount, we want to sell, here's our motivation. I know when we I still help with with mailing sometimes because I've been freaking busy with these parts we've been buying. But but when I do, I like the the the user system because like I'll go in there and I'll be like I don't this probably isn't right because people are like, oh but we need to go like when there's a system in place, they're like, Yes, I want to sell. Um, I'm in a hurry. Like I see all that, I'm like, okay, these are all priorities. I'll start calling them. And if there's time, maybe I'll tweedle dumb on the other ones, you know.

SPEAKER_02 15:24

But I I well it's uh it it's almost like in in you want to almost get to that a, you know, like almost an AI scoring model to where the AI can listen to the call and be like, yeah, likelihood to sell this one's here, you know, to where it's gonna start to learn and and you can pinpoint once you generate so many inbound leads, like that was our problem in Corpus was I I think the the last month that we mailed where you were like, dude, turn it off. Um, I'm overwhelmed was I think we had 760 inbound calls and 360 of them were qualified. You know, so you know, you were way overwhelmed that at that situation. You only can feed through the best, and which changed you. You know, after that, you were like, Oh, I built a bigger, better system that can you know completes me. But like going back to like cost per deal in that, I mean, what Mike was doing in Columbia, him and I have talked about it before. Um, you know, it like he was doing it through homevestors, it was costing him 10K a lead or 10K a deal. Um, and you want to find where your marketing's working the best, where you know your market has a number that it should be floating around. You know, certain parts of the season it's gonna come up, certain parts it's gonna come down when you know comp with competition. Um, but you know, you should know within a quick amount of time whether this is going to work or it's not, because so many phone calls usually equal so many deals, so many deals equal so much money, and you know what your cost per deal is. Um that's the biggest thing is knowing your your numbers on that back end.

SPEAKER_04 16:52

Mike, are you still running any kind of mail campaigns right now? Yes, we're still running mail. Y'all still do pretty well in mail, right?

SPEAKER_03 17:01

We do pretty well if we it just switched over to AI mail, and uh those leads have been pretty crummy. A lot of retail. Because I think we're hitting people that we haven't hit before, but they're just kicking tires. So it hasn't really hasn't really come to fruition yet.

SPEAKER_02 17:24

Um yeah, I went beginning of the year Columbia with k uh Jared Coe, um, you know, in Boone County, and we struck out January, February. Uh I shouldn't say struck out, um, but just really didn't generate a good lead quality quality then. But in April, um, we changed and went back to the system we were using last year, and we sent out 2,500 mailers and he got hit two under contract, um, and then two more pending. So, you know, it's you know, it's one of those that it's sometimes that data set just can be off, you know, and and I think everybody's on AI. Um, and so it's it's kind of one of those, it's like finding the data set that everybody's missing on.

SPEAKER_04 18:07

Well, you have a point of data. I have not liked anything AI that I've used for leads or data yet. Like, I I've tried out so much stuff. Like, I can't even say, and even these PPL providers now have an AI scoring and all the cover. That'll be they're all buying the same bull crap. That's the problem there. So who knows if it works or it doesn't work because a thousand people have the same lead. But on uh on you sent me AI data data in the past, and I like the other data better.

SPEAKER_02 18:38

Yeah, it's well, it all depends. Um, so like right now, I'm sending out quite a bit of data that is non-AI scored, and but what we're doing is going after after historical data stacking lists that are typically where the sellers are. Um but by not using AI, you're finding what the AI is weeding out. And there is there is a big thing with right place, right time. Um, if they're if they're off of everybody else's radar and you just happen to hit them, you know, you're gonna be, you know, one of the few mailers or few contacts that has reached out to them because the cream uh that AI typically supports based off of the history of what's typically selling in the area, um, you know, doesn't mean that that's gonna convert with, you know, it's the same as the weather, trying to predict the weather. So as you utilize AI in these different situations, you know, it's going to distort the data based off of what it's done in the past, not what it could be doing in the future. Um it's it's just one of those that it's hard to read. Is it gonna be the most accurate all the time? No, you know, so a lot of what we're doing is just going back to the stacked list of you know, the typical, the typical pools of people that will be selling their house, you know, or selling something at some point. You know, we just don't know when. Um, you know, with with our bigger, you know, our our our bigger uh budgets, you know, like Brandon. I mean, we pulled 60,000 lines of data, we mailed 20,000 a month, all new addresses for a quarter, and we jumped up his his call quality and his lead flow um by 20% over the last quarter with no AI. Absentee, landlords, high questions, yeah, tired landlords, dumb landlords, you know, uh senior, senior owner occupied, which, you know, that one for most areas, they only go back 30 years of ownership. So you need to be able to include the unknowns in it, um, you know, or what's broken or missing data in the area. I mean, the the best thing you can absolutely do is if you're gonna pull your own list is really niche down and try pulling in several areas, um, pull it by city and kind of compare, pull it without any filters, look at it. You want to continue to pull in the area to figure out what's missing. So this is

Hidden Data Pockets With Mapping

SPEAKER_02 20:58

a great example. In North St. Louis, there's this little pocket called Jennings. Great buy and hold area. Three twos, three ones. You can buy them for under 100K. They they rent for 13 to 1500 a month, Section 8 or not. Um, but it's a great cash flow and community. The mayor is uh an investor, you can't find the data. So if you type in Jennings and it'll come back zero houses, you know, you type in the zip codes that are in Jennings, you'll get the houses that are in those zip codes, but outside of the city of Jennings. But if you go in and use a drawing tool like on PropStream or List Source, um, and draw the map of Jennings, there's all the properties.

SPEAKER_04 21:42

Do you uh do you have any customers in Vegas?

SPEAKER_02 21:47

Yes, Vegas sucks. I'll be honest with you. Uh it's it, you know, it it's it's one of those the problem with Vegas right now is all of the new construction, they're undercutting or buying points back. Um so they're selling. Selling new construction at such a cheap rate to make sure they get it off their books and continue making money that the old stuff is sitting there for 300 days sometimes. You know, so if you go and flip a house there, um, you know, I was just talking to my, you know, Mike Walsilkoff, his brother's in Vegas. They f they do a lot of flipping out there and they've we've pretty much stopped because the response rates suck, uh, various other problems. You know, it's just those temperamental markets like that, they get really hot for about a three-month period, and then they're dog shit for pardon my French, um, you know, for six, twelve, you know, eighteen months, and then all of a sudden they'll get real hot

Vegas, San Antonio, And Days On Market

SPEAKER_02 22:39

again.

SPEAKER_00 22:39

Yeah, the same thing that's happening in San Antonio. Certainly areas if you're doing two builds at three and four percent.

SPEAKER_02 22:49

And that's what you know, you want to look at days on market, um, you know, is a great indicator of the health of the environment there. Um, you know, because days on market are gonna tell you when the used stuff is is moving. And ultimately, if you're wholesaling to a flipper or you're wholesaling to, you know, buy and hold really doesn't matter because they they're just gonna repair it to a certain situation. But if you're wholesaling to a flipper, you know, or somebody that you know you're you're gonna wholetail it, you got to look at the the days in the on market because that's gonna tell you pretty well what that market, how fast that property is gonna move, and then the price point that you're gonna need to sell uh sell it at.

SPEAKER_04 23:28

Do y'all have any uh and and my biggest reason I wanted to bring you in is so that people in the community have a male person if they're not already using it and introduce you and also just kind of put it out there about these feedback loops, right? And like I think it's just a sickness. It is what it is, and and and I think mail is one way to help combat that. But and y'all have any questions for Scott while we got him here?

AI Versus Legacy Lists Tested

SPEAKER_03 24:02

Hey Scott, have you compared like have you pulled an AI list for a market and compared it to like a legacy list that you would build?

SPEAKER_02 24:12

Um we we have KPIs on uh multiple markets, uh side by side comparisons of AI and non-AI. Um, I don't I know, and I can talk to Nick about this as is uh one of our good uh really good coach with us. Um and he does a lot of our AI, he's really good at measuring that stuff side by side. And I know we went back last year and tested some stuff that prior to us changing the data company that we're buying the data from. So we were buying from First American Title uh for REI Smart Data, and then we went to buying it from Dark Knight. Well, it completely changed our demographic of response rates um in areas in the Midwest. We went down in the on the seaboard, the East Coast, West Coast, Gulf Coast. Um, we went up kind of like core logic. So um we had tested some legacy lists that were over you know a year, year and a half old since we pulled them and came back and remailed them um and had an improved response rate in those areas where we were struggling. So usually most lists only turn over eight to ten percent a month, if that. So you uh I just did this for data uh data flick lists, or now it's data sift. We went back to uh January of 25 to January of uh or to April of 26 and compared those two lists, and 60% of the names were still the same on it. Um, so legacy list, if that's what you're meaning by how old the list is, um you know that stuff it it still has motivated sellers in it. Most of them are senior owner occupied, but there are still tired landlords and that in there um that you can find still find good deals on. Um, and they're just now getting ready because it's all predictive, you know, that you they fit a certain criteria that we're predicting that they're going to sell at some point soon. Um, but non-AI list to AI list right now, it's all how competitive the area is. You know, if if it's highly competitive, I'm going right now, I'm going non-AI because everybody else was on AI. So it's just kind of going the opposite flow, you know, like soccer, just rever reverse the field um and go where they're not um with a better product. So it's it's one of those that one of the benefits of us is we test a lot of things um and have KPIs kind of everywhere. So, you know, it's definitely you guys always feel free. Um, you know, my numbers right there in the upper corner of my screen. Write that down, ask questions at any time. You get free access to me. Um, and and shoot me text, give me a call. What's up, Mr. Lopez? Got a couple of services, guys. Don't pay attention to that shit. Right, right. I should turn my screen off so I don't blind you guys. Um you know, but and and Alex can speak to this too. You've played with uh dataflick data forever. Um, I was just talking about how for in Hillsboro, uh, Florida, I pulled uh a DataFlick list from um last, you know, beginning of 2025 and just compared it to one in 2026. And there's 60% of the names are still the same. You know, so of most data sets that are out there, there's not a ton of turnover because people typically sell every seven to ten years. And I think that even slower now. I don't know if that number's changed, but I think it's slower now because they're still getting stuck on the interest rates, waiting for you know, either lower interest rates or you know, that movement time. Everybody's enjoying that two and three percent. You know, they're just sitting on that until end of life.

SPEAKER_07 27:54

Yeah, I think I checked my data flick list over the the last two months, and it's like a four to twelve percent change from month over to month, you know, depending on the month. So it's not not really crazy, you know.

SPEAKER_02 28:08

Yeah, I said eight percent. So it's right in there. Yeah, on average, it's typically you know, eight to ten percent somewhere in there that that has a change over month to month. Um, the other thing we were talking about, Alex, was just uh uh data in general of AI to non-AI right now. Um I'm finding that if it's a highly competitive area, uh to go non-AI is finding a better response rate because it's finding stuff that the AI is is missing or thinks is, you know, because of the program or its thought process, you know, that's it puts stuff, scores stuff higher.

SPEAKER_07 28:42

I think I showed you that on um when I was running the stuff that's rated on DataFlix stuff, where like I was getting like 20%, 25% of stuff that was selling was stuff that was rated like under 20% on their grade scale. So it's like shit, I'm missing a whole bunch of people. So I actually have it layered now where I'm doing a uh kind of like a raw first to market almost type data, right? And that and I'm like really deep deep prospecting that aspect of it where I'm going out, sending the flyers, doing the whole fucking thing, and then um and then still using the AI data on like uh you know broad text messaging or whatever it might be. Co-calling, that kind of stuff.

SPEAKER_02 29:24

Yeah, I mean it's it all starts there with data. You know, it's like finding the right stuff or the stuff that people are missing, or you know, where the competition isn't. That's the biggest thing on that. Does that answer your question, Mike? So a little of a long term you know, long uh long-winded answer.

SPEAKER_03 29:41

Yeah, I was just kind of curious as to how many, like, if you pull an AI list and a regular stack list, how many of those end up on the on both lists? Just because, like I said, with our mail, I mean it's when we switched over to AI, it it feels like it's gotten drastically bad, really.

SPEAKER_02 30:05

Um Well, usually all the AI is doing is recalibrating the list that you feed it. You know, it's but at the same point, it all depends on how they're utilizing that particular AI. When you say AI, everybody thinks it's kind of similar. It's not. All of them are built different on their own thought process. Um, we have two different ones we use here. Uh, the one that I found to work the best in your area and Boone is um one it's called reworked. Um and all they're doing is going in with about 26 points, looking at uh uh looking at the uh the owner, the seller's financials, you know. So looking at their credit score likely to sell under things like that, like 26, 27 different flags. Um, we also feed our call center back into it. So anything that's qualified there, we feed back into them so it continues to learn. But our other data set that I ran in there only goes in and looks at the issues in the area and then scores off of those issues in that area. It kind of takes a non-biased approach. Now, though, and then we feed every record through that to find, you know, what we assume would be a fine-toothed comb. Of what I did with that, I got zero to you know, I got zero response rate back for qualified leads in Boone County. But on the reworked one, I stacked the list and then ran it through that to say, hey, these are the best out of that, which is a smaller list, but at the same time, I I had a more qualified lead flow. So every AI is going to be different, just like every list puller when they go to pull it is gonna be different. The trick to it is knowing your area the best, um, is to get down into that data set and then do it on multiple platforms, you know, do it on a prop stream, do it, you know, because they pull from First American title, you know, do it on REI smart data, which you get free access to through me. Um, do it on, you know, we can jump on a list source and kind of see what that gets and start to cross-reference that list source is pulling from core logic. It's gonna be similar to smart data, you know, so we can play with uh a couple different ones to see what's who's finding what inside of uh you know, inside of Boone County there.

SPEAKER_04 32:16

So weird. Uh I don't I don't know. Some people have had trouble getting in. I know Alex did. It's not showing me anybody in the waiting room. Oh well, if they're getting the recording. But uh anybody else got any questions, Walter Roll?

SPEAKER_01 32:34

No, not right now, no, and that's no cool.

SPEAKER_04 32:38

Um, Alex, we'll go over we'll go over your deal after Scott's done, your mobile home deal. He's on the phone.

SPEAKER_02 32:44

So he's always on the phone. He's important.

SPEAKER_04 32:48

Uh Scott, I appreciate the heck out of you uh coming on.

Free Help Offer And Marketing Mix

SPEAKER_02 32:52

Yeah, and if anybody ever has questions about lead generation through data, lead generation through direct mail, or even PPL, I'm a free source, you know, and and you know, I'm going to give you everything I know to help you guys make a good decision as far as that goes. Um, you know, feel free to reach out to me, ask questions about your environment, your area, what you're doing, what I see inside of that. Happy to help in any way I can. Also, with you know, like with PPL and that, I can I uh I'll send you over QR code if anybody wants to look at it or sign up for it. All of them are built different, they're all generating their own leads. Um, you know, and then uh, you know, I I I like where ours is going. Um, now that we're kind of getting behind the scenes at it, um, we're finding quite a few deals inside of it too. So it's kind of one of those you want to have all marketing channels kind of turned on in some aspect or another, and then you just turn the ones up that are currently working, turn the ones down that aren't.

SPEAKER_04 33:49

I I like dealing with you, Scott, because you got more business and you know what to do with. So now you're not just trying to sell sell something.

SPEAKER_02 33:58

No, and it and that's our uh our background is is ultimately if we can help you guys find success, you know, what are you gonna do? You're gonna remember where who helped you and continue to use us and tell your friends. I mean, that's our simple philosophy is I'll give everything away, you know, if I can help you find success. Um, you know, and then I just feel it comes back on on the back end. Um, you know, it all you know it always goes first full circle. So anything that in and I apologize because there's a weird things in between these years, but you know, your guys got full access to it.

SPEAKER_04 34:30

I'll uh I'll probably throw this this particular recording on the podcast too, just to out there, also.

SPEAKER_02 34:36

So yeah, I mean it's yeah, yeah, it's definitely one that you know happy to help any way I can, and um you know, but to to help you guys grow. So cool.

SPEAKER_04 34:48

Appreciate the hell out of you, Scott. Everybody else uh you can stay if you want. We're gonna go over a park deal next.

SPEAKER_02 34:54

Right leave to whatever the hell you want to do. Yeah, do do me a favor and pick on Alex for me. I will, man.

SPEAKER_04 35:01

Have a good day. Appreciate you again, Scott.

SPEAKER_02 35:04

See you, fellas. We'll talk to you later. Bye.

SPEAKER_04 35:08

I'm gonna pull up Alex's

Underwriting A Park With ChatGPT

SPEAKER_04 35:10

deal. I was supposed to help him underwrite the other day, but I did not. All right, hang on, Alex. Let me find your deal here.

SPEAKER_07 35:21

Okay, bro. Let's see.

SPEAKER_04 35:26

I don't know. People said they couldn't get in. I don't know what the hell that's weird. But it's recorded, so we're all right. All right. Um, that's probably why I didn't open this. Press trust me now. I don't understand it. There's a lot of uh so what do you have? What is this? Uh I guess I don't know. There's a lot of uh version.

SPEAKER_07 35:54

Well, I sent you I sent you everything that he sent me because I hadn't done my analysis.

SPEAKER_04 36:01

Okay, here's a rent roll. Let's do that. I could do a rent roll.

SPEAKER_07 36:03

I just sent you like all the raw files. So he has rent row, he included shit for another park in there. The guy was kind of all over the place. That's why I sent you the overview of like what he emailed me, you know, like the actual text.

SPEAKER_04 36:15

Cool. All right, so let's go ahead and do this. I'm gonna share my screen and I'm gonna show you how I'm gonna underwrite this using AI right now and how my brain ticks when I do it. All right, let's see. So I've got Chat GPT up. That's my preferred AI for this segment. I use Claude for another segment. All right. Rent roll. I haven't seen anything else. I'm just having the rent roll. I'm gonna have it break it down. I see you updated rent roll. What would you like me to do with it? All right, can you break it down like a third grader?

SPEAKER_05 37:02

Oh look at this thing.

SPEAKER_04 37:06

Yeah, I see a bunch of stuff. I'm just like, eh. My brain doesn't process. Uh all right, here we go. Park on homes. That means you're on the trailer, and blah, okay, blah, blah. All right. Um, just some numbers, I should have said. Just break down the numbers. I should just open the rim roll, I guess. Usually it gives me a quick snapshot and I'm done. It should have said give me a snapshot. All right, anyway, I'm just gonna pull it up. Okay, here we go. All right, this is what I wanted. Um here's a simple point. All right, 30 lots, two vacant spots. So minimal up, here's right off the bat, there's 30, there's two vacant, minimal upside so far. So 28 of these are occupied. All right, meaning there's not a ton of value added unless rents are below market. Five are park owned, 17 are tenant owned, which there's a big rental play here, um, more so than notes, six rent owned, too big. All right, lot rent, utilities. All right, so they're getting just off lot rent, they're getting 12,208 a month. See what that is. 12,208 uh divided by 28. Okay, lot rent's about 436 a month. All right, this is a small uh for for uh for each for each path, which is fine. So um since it's under 40 units, I would do it just a straight up two percent rule like you would do for a freaking single family. So 12208 divided by 2% is 152 152,000. Now let me what do they want for this thing?

SPEAKER_07 39:22

What I have the deal worked out right now where uh we would put whatever the bank wants back, and he'll he'll uh he wants us to pretty much leave 150k in the deal. I think it's like one point something, I can't remember. I I have it in your in the messenger I sent you.

SPEAKER_04 39:38

All right, let me just pull up the rent roll and see if chat's looking at this wrong because that's too far of a stretch on numbers. So there we go.

unknown 39:47

All right, cool.

SPEAKER_07 39:48

Because there's three, there's another park also that he has like nine homes on. Remember, he wanted to sell them together.

SPEAKER_04 39:54

All right. So all these are like scattered all over the place, or this is all no, there's one park and then there's a second park in the other in the other spreadsheet. Okay, this is why they were having trouble. So, well, no, it did it right. It gave me lot rent. All right, here's a this is a badass example. All right, check this out. So this park it doesn't matter that it's got all this going on because these are rent to owns and rent. The bank ain't giving you crap on this. And all right, this is what matters right here, your lot on it. That's what that's what matters. The 12208 a month. Okay, so you got you got 12.208, which we can count rent and and all that, but let's go ahead and see what this thing would be worth if a bank looked at it. 12.208 uh times 12 divided by 1%. All right, so you're like at 1.8, 1.8, all right.

SPEAKER_07 41:08

Yeah, I think we're at I sent you the LOI that he marked up. I think we're at 1.75.

SPEAKER_04 41:13

Okay. Oh, so this thing's worth 1.8. You can get it for 1.75. That's pretty thin. So let's go ahead and underwrite this thing. It's bringing in a total amount, a total income right now. Let's see, finance rent. So total, it's bringing in 12208 plus sorry, these financials have kind of tripped me up. So it's bringing in 33 G's gross a month. Um you're not bad there. Let's just run an AM schedule. Is he gonna hold any paper?

SPEAKER_07 41:58

Yeah, bro. Look at the LO look at the doc I sent you. The counter doc. I had sent him an LOI and then he marked it up and sent it back.

SPEAKER_04 42:12

Blah blah blah, blah, blah. All right, schedule, profits, trade win. Where's the counter all?

SPEAKER_07 42:20

Counter, yeah, right there, right there. That's what he countered me. I was trying to get it with nothing out of pocket. But he countered me a little bit.

SPEAKER_04 42:30

Down payment. So this deal has got good. Here's here's what it's got really good legs. Here's what I don't like. There's not a lot of value add, but we're gonna work through it together and see because I want you to make a million bucks if you're gonna do one of these.

SPEAKER_07 42:46

Yeah, yeah, yeah. The value, the the kind of value I was trying to hold on to was being able to get the neighbor's part two, and then combine them because the neighbor has

Debt Service And Thin Cash Flow

SPEAKER_07 42:55

the same.

SPEAKER_04 42:55

Okay, that's the one you're telling me that right across the street. Okay.

SPEAKER_07 42:58

Yeah. He spoke to the lady, the lady wants to sell, but she hasn't given us anything yet.

SPEAKER_04 43:05

All right. This is really good. 6.75% 25 year, blah blah blah, 20% down. He wants 175.

SPEAKER_07 43:17

He wants to hold a hundred, he wants to hold 150,000 on paper for the down payment. If we do 20% down, then that means we would need 200 grand out of pocket total.

SPEAKER_04 43:29

All right. So let's look at the value add portion, then we can run an AMP schedule. Because I don't know if you looked at the cash flow after you pay all this stuff. Um, like what your cash flow will look like.

SPEAKER_07 43:42

I did, I threw out sh in perplexity, and then you were like, Don't send me that.

SPEAKER_04 43:47

What did that cash flow look like?

SPEAKER_07 43:49

I don't remember. I gotta go back and look. But I was like, I'm gonna just send you all the actual physical documents, not the I I understand now.

SPEAKER_04 43:57

Okay, cool. So it checks out, but the value. You at the only bad thing. Here's the only bad thing is like there's not it's just gonna be a cash flow play. You can only fill two spots. So let's look at it. I'm gonna pull up an AM schedule. Like that's that's what we can do. Let's run this AM together. What are you gonna make? And let's see if it's worth it. All right, so uh he said six point seven five percent. Um a 25 year AM.

SPEAKER_05 44:31

What the hell is that? Default, it doesn't matter.

SPEAKER_04 44:40

One okay, he's gonna hold one two five at six point seven five. All right, one two five at six point seven.

SPEAKER_07 44:53

Well, it's gonna be a little bit more than that because you're gonna have the back end.

SPEAKER_04 44:56

Well, yeah, I'm gonna run that.

SPEAKER_05 44:58

I'm gonna run that next. Okay. Alright, so this is our first loan.

SPEAKER_04 45:12

Uh eighty eighty six hundred bucks. Which looks right to me, because I just got a loan for one point two and my mortgage is nine grand. Alright, uh, and then you have the back end.

SPEAKER_05 45:32

Some stuff's gone. All right, the back end he's holding. Okay, that's another part. Okay, the 350.

SPEAKER_04 45:48

He's so you're gonna put 350 down, or he's gonna hold 150 of the 350?

SPEAKER_07 45:53

Yeah, it's retarded. I think he'll hold more, but yeah.

SPEAKER_04 45:57

Okay, so uh okay, so what are you I'm just gonna use the calculator? So 350,000 down. Are you borrowing all of it though, or are you gonna put cash for the down payment?

SPEAKER_07 46:18

Well, I'm gonna need 200k because he's only willing to hold that's what I'm saying. I was trying to I was trying to do the the 350, because I originally thought I was gonna need 30 percent. The broker's telling me I'm only gonna need 20. So I'm like, all right, cool, 20, but he only wants to hold 150 of the 20.

SPEAKER_04 46:36

How much will he hold it for? Like percent wise.

SPEAKER_07 46:40

I think it says on their 8%, I think. Just to 8%. 8%.

unknown 46:46

And did he put it?

SPEAKER_07 46:47

For four for 40 years, yeah, for 40 years.

unknown 46:50

40 years.

SPEAKER_05 46:56

Alright, so 2500 bucks.

SPEAKER_04 47:00

2500 bucks a month. Okay, so total, you're like, let's just call it 12 G's a month debt service.

SPEAKER_07 47:10

Okay.

SPEAKER_04 47:11

So 12 G's a month debt service. It's bringing in 33 G's. You need to run 50% expense, just quick back of the knack and math, divided by two, 33,000 divided by two is 16.5. All right. So 16,5 minus 12,000 is 4,500 bucks a month in cash flow, just as long as nothing goes wrong. Um, here's why this deal's tight. Like you've structured it badass, but yeah, badass structure. Um, what I don't like is you need more cash flow. Because like 4,500 bucks goes in your pocket if everything's financed. Let's just call it that, because you're probably gonna finance whatever you give to them somehow.

SPEAKER_06 48:10

Sure.

SPEAKER_04 48:11

Let's call it four grand. That's before any crap. You know, crap's gonna crap's gonna happen. I think you need 10 G's. I think you tend I need you, I think you need to make 10 G's a month if you're gonna take this because you don't how can we structure that?

SPEAKER_05 48:27

Because how you can only fill two spots. Yeah, you can only fill two spots. There's there any more land?

SPEAKER_07 48:38

Nah, there's no more land for him to infill or nothing on there. The other the other small park was what he wants to sell together with it.

SPEAKER_04 48:50

Okay. And the other, is it it's close by?

SPEAKER_07 48:54

It's yeah, it's within 30 minutes, he said.

SPEAKER_05 49:03

Oh no, it's tight, bro. That's all I'm saying.

SPEAKER_04 49:06

Four G's is tight a month.

SPEAKER_07 49:10

Yeah, no. I just thought, like, hey, if I make that, keep it for appreciation. If I'm in it for no money, but if I'm in it for 200k, it's not as good of a deal.

SPEAKER_04 49:23

I think it's too much.

SPEAKER_07 49:25

Yeah, it's too much.

SPEAKER_04 49:26

I think let's run here's here's what I think. Let's just run one, because right now you're essentially giving them like one seven something, right? Let's just say one twos the number. I don't know. Well, uh, we already know what that is. One, twos that you you get 2,500 bucks in your pocket, you're at $6,500 a month. You don't have any, I mean, you have no upside, is what I'm saying. It's like I I think you gotta get a killer deal on this to do it. I think you gotta be even less than a million bucks. Just cash flow-wise. Unless you just want it. Like unless there's like improvements, I don't know of. Like, is there a lot rent? Can you can you get higher lot rent? Maybe in the areas, people charging more than $4.50 per lot. I'm just talking through this.

SPEAKER_05 50:17

You know, where's this at?

SPEAKER_07 50:20

Um it's in uh Maryland. Demographics look good as far as income and all that.

SPEAKER_05 50:31

Let's see.

SPEAKER_07 50:41

Rad stuff because you're like, you don't want to get into infilling lots, and I was like, all right, fuck it. I had a couple of those. I was like, no, I'm not gonna look at it.

SPEAKER_04 50:51

Well, let me show you a scenario

Raising Lot Rent As Value Add

SPEAKER_04 50:54

here. But look, average lot rent um for a mobile home park, Cumberland. Let me show you a scenario. So they damn, that's a big difference. Trade wins mobile home park lot rents are anywhere from $600 to $1,400 a month. Let's stay in Cumberland lots. You might look okay. Here we go. Practical in Cumberland expects $6,800. But you his lot rents are at $430. So, like, is that the value at? Like, because all rents all so say that you got $600 a month. Let's run this scenario now. You got you got okay. I think I know how to flip this here.

SPEAKER_07 51:47

So from $430 to $600, people are gonna stay.

SPEAKER_04 51:53

What if you slash, what if you made it the same number, but you just made the lot rent higher, so it's valuated on a higher number. Because you're not you're not doing anything wrong if your comps are six to eight hundred a month, verify it. Yeah, but let's say you can get six hundred a month lot rent. Um, where the hell was that rent?

SPEAKER_07 52:19

I'm gonna run that on my system here. Let me see.

SPEAKER_04 52:22

All right, so check this out. All right, here's the value added. This is what I'm saying. You can infill lots and stuff, but what I'm saying is like a value add. Like you need to have the lots to be able to infill.

SPEAKER_07 52:35

The value add is his lots are too fucking low.

SPEAKER_04 52:39

Right. So let's say you got 600 times 28. Now you're at 17 G's a month. All right, now we're talking. So just lock rent, all right, and then uh you multiply that by 12, um, divided by two, divided by eight percent. Dude, you're at one two before you you're at one two. I like this a lot better. Um I like that a lot better, but you're still at one two valuation-wise for just lot rent. You'll cash flow a lot better. Maybe you can run 40. You can run 40 expenses. Let's put it in 40 expenses. And sorry, y'all, if y'all six hundred times twenty times twelve minus forty percent. I'm trying to see what number you can get at that makes sense, divided by eight percent.

SPEAKER_07 53:46

If you ran at 40% expenses, you I'm coming up, I'm coming up the average rents in that area are four to six hundred on my on my side.

SPEAKER_04 53:56

Okay, you'd have to be at six hundred to to get it to be worth one five.

SPEAKER_07 54:02

Uh to make it sense, that'd have to be at six hundred.

SPEAKER_04 54:06

You'd have to be at six hundred and it'd be worth one five, but then you'd have to get it. Your number right now doesn't make sense. I think you're buying it retail. That's why it's penciling. That's why it's like just barely penciling. Barely penciling. I think you're right at retail. Um, I think one five is what it'd be worth if you got the rents up to six to six. So if you were to be like, hey, Travis, you gotta buy this. I'd have to be like 800 G's to make money, to make good money.

SPEAKER_07 54:39

God damn.

SPEAKER_04 54:42

But but you see the exercise because like you can look at it another way if you want, yeah. You can look at the cash flow now because you increased your cash flow. If you got a lot rents of 600, you cash flow nine grand a month. It's only gonna be worth 1.5 though. So you don't get the upside down the road, you don't get both. What do you think?

SPEAKER_07 55:11

I think we don't buy the shit then.

SPEAKER_04 55:13

Yeah, kick back to it.

SPEAKER_07 55:20

Well, no, because it doesn't make sense because then I gotta, you know, if there's a balloon on the second portion of it, I'm gonna have to come out of pocket for that. Yeah, you know, so I I don't know.

SPEAKER_04 55:31

Um, so if I did say don't get in the infill, I think you should have the extra lots to be able to infill. Um just check this scenario out, bro. This is what I think would be awesome for you or anybody, and and they're everywhere.

SPEAKER_07 55:51

Give me something because I've been looking at these pictures for five months now. Okay, I've submitted so many of these fucking LLIs. I'm just like, nothing's penciling out the right way.

SPEAKER_04 56:01

Okay, so saying you find 40 lots.

The Ideal Infill Park Deal

SPEAKER_04 56:05

I'm just gonna give you a good scenario. Sure, perfect. Like, Travis, what do I buy right now? And don't I'm not looking at nothing else. All right, I would say look for 40 lots. 20 of them are rented, 20 are vacant. All right, and lot rents could be below or at, you know, it doesn't matter, below would be great, uh, your comps, you know, but below or at and and plenty of plenty of room to improve it, to value that. So look, this is what that looks like. So you've got, let's just say lot rent is $500, all right, and you've got 20 lots, 20 lots full. So you're at 10,000 a month, all right. Multiply that by 12, divided by two, and divided by 8%. Right now it's worth $750. All right. Since it's under 40 lots, tell me the backup if it doesn't make sense. Does that make sense? Hey, you're gonna at least get an eight cap from the bank, but they're gonna give you between five and seven, probably, but I overshoot everything. So let's say the bank screwed you. You got a valuation for $750 as is. Well, if it's under, if it's 40 lots or under, I use freaking 2% rule for just quick math, but I'll go to that in a minute. Let's say that you filled the other two that you bought it. Let's just say you bought it, don't buy it for $750. I'm gonna show you what to buy it for. But say you bought it for $750 and you filled the 20 lots. It's worth one and a half million now, or whatever the hell that number is, right? Like, just because you filled 20 lots, you made $750,000 for filling 20 lots for filling 20 vacancies. That's the crap you want to look for. And I don't think people are looking for it, you know, besides like you got your people out like gurus and stuff, but like the people don't know to look for that. And it's like, dude, if I just said, hey, I'm gonna give you I'm gonna write you a check for 750 G's. If you could fill these 20 spots, your ass be doing that. That's all you'd be doing. Bitches in two weeks, you wouldn't be doing anything else, nothing else.

SPEAKER_07 58:25

Nothing else.

SPEAKER_04 58:26

You do it too, you get it done.

SPEAKER_07 58:28

Yeah, yeah.

SPEAKER_04 58:29

Um, and here's the here's the other thing is like 40 units or less, you can run it in a 10 cap if you want, or you just say real quick, like $10,000 divided by 2% half a million bucks. 40 or less, I use 2% real quick. Uh lots total. And and so now you bought something for $500,000 that's worth $750 as is that you can make another $750 on real quick. But say they're like, hey, we'll hold paper. And and I know everybody's trying to do all the creative buy the don't even worry about it. Like, if they want the money down, who gives a crap what it is? If they'll hold enough paper, I'll help you find it or whatever. Partner, I don't care. But um, so let's say ten thousand dollars, you know, um times twelve divided by two. You know, if you wanted to run a 10 cap, 10, you're at 600,000. So if you're okay with that, which is okay, by all means, a 10 cap with a chance to make you know 600 G's, there's seven another 700 G's is okay. Yeah, that's how I look at these, and that's what your first park I would zone in on.

SPEAKER_07 59:50

So that's all I'm gonna do, then I'm gonna just look for shit that I can infill.

SPEAKER_04 59:54

Infill or raise rents, you know, like you might find one, like wherever you're looking, look what lot rent ranges are, and you might find one that you not might, you will. You'll find uh lot rents are 300, and lot rents in the area are 600. You're like, holy hell, I can double the value of this park. People do it every day, bro. I could double the value of this park just by uh increasing lot rent, and and I don't even have to increase the total monthly, I could just take the lot rent away from the rent or the rent, you know, whatever, and put it to lot rent.

SPEAKER_07 1:00:30

All right, changing my strategy. Does that make sense? Maybe 12. Throw everything I did out the fucking window. I gotta get you. I want to get two this year. I gotta get one.

SPEAKER_04 1:00:43

That's that's part of it, bro.

SPEAKER_07 1:00:46

Okay, it's fine. I'm good with it. It makes that is actually a lot easier for me to mentally process.

SPEAKER_04 1:00:52

I want you to make big money. So on both sides, like, yeah, cash flow and I'm gonna get paid too at the end. Like when all this is done, you know. So hell yeah.

SPEAKER_07 1:01:05

Cool. Well, fuck if you find three of those a year. I mean, and they're out there because I've seen them. I've just passed. I think I sent you one where it was like there was like fucking 60 spots that needed to info. And I think at that time you were like, 100 plus, let's buy that shit. Yeah, like all right, I'll pass it on this, but I'll circle back to see what I can find.

SPEAKER_04 1:01:25

It's gonna be a lot of energy um to do, but like run the math. Hey, what will this be worth? Like, I'm gonna give you an example.

Filling Lots Creates Instant Equity

SPEAKER_04 1:01:33

There's one down the road from a park I bought uh last year. They've got 88 spots, they're 50% vacancy. Well, they wanted two million bucks, I offer them a million bucks. Right now they're at 1.1. And I'm like, no, I'm at a million. And they're like, what, bro? And I'm like, yeah, I've told you I'm at a million. Here's why. Me going through this, it is so much work, bro. It's worth it, but I know I can get that park worth three million when I look at the end in mind, but it's gonna take all day, every day to get it full.

SPEAKER_07 1:02:08

But I'm like, how long how long is it gonna take you to fill out like that? Just off the top of your head. Like, just what do you what do you do?

SPEAKER_04 1:02:14

So I'm gonna get you real-time real market analysis right now because I'm filling 140 unit right now. It's fine. My VA is in me. So right now, it's taking me a month to fill three spots.

SPEAKER_07 1:02:30

God fuck.

SPEAKER_04 1:02:32

Rent to oh. But but get this three spots is three thousand dollars a month times twelve, you're at thirty-six thousand dollars NOI. What's that divided by eight percent? I created four hundred and fifty thousand dang dollars in a month. You can look at it that way, too.

SPEAKER_07 1:02:57

Yeah, you know, so the reason it's creating me that is this is a project that, like, hey, you know, it's gonna take you six months to a year to fill the whole thing.

SPEAKER_04 1:03:07

This is gonna take people, don't they understand? And the reason it's gonna speed up, but I'm in a different area right now, so like we're building vendors lists, we're building process, so it's gonna start speeding up after this first round. But we're getting in with the city, they're being slow on permits. But once we get to know everybody, it's gonna start speeding up.

SPEAKER_07 1:03:31

The same same concept that my commercial friend I told you about before does like he buys one building, everybody's like, Don't buy that fucking office building. He goes in there and he just relentlessly focuses for six months on filling the building up, and now it's worth fucking 3x what he paid for it.

SPEAKER_04 1:03:46

Right. You get all the relationships, and then you just that's all that's all I'm doing is right now is like filling lots.

SPEAKER_05 1:03:55

Yeah.

SPEAKER_04 1:03:56

So cool.

Wrap-Up And Next Moves

SPEAKER_04 1:03:59

Well, uh yeah, good seeing y'all. Thank y'all for hopping on today.

SPEAKER_07 1:04:04

I'm uh when I find a couple, I'm gonna send you them.

SPEAKER_04 1:04:07

Send them, yeah.

SPEAKER_07 1:04:08

All right, cool, bruv.