The Most Dwanderful Real Estate Podcast Ever!

Striking Gold in Foreclosures with Donny Coram

• Dwan Bent-Twyford • Season 5 • Episode 372

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Embark on a journey through the heart of real estate's most exciting frontier with me, Dwan Bent Twyford, and my esteemed guest, the Foreclosure Deals Coach himself, Donnie Corum. Sip your favorite drink as we toast to a conversation that's brimming with insider secrets on turning the foreclosure market into a goldmine. Donnie doesn't hold back – he's here to mentor you on making a minimum of $25,000 on your next investment, navigating the twists and turns of the Colorado Springs market, and why putting people before profits isn’t just a noble choice but a profitable strategy.

Strap in as we tackle the thorny issue of ethics in the real estate seminar and coaching industry. With a heartfelt conviction, I take you through our decision to eschew high-pressure sales in favor of hands-on coaching that's teeming with integrity. You'll hear why we chose a path less traveled, where success is measured not in dollars, but in the genuine triumphs of our clients. Our commitment is clear: to marry wealth-building with good old-fashioned morals, all while ensuring that our clients aren't just numbers in a ledger but partners in a journey towards ethical prosperity.

Finally, muster the courage to take that first step into the world of real estate investing. Donnie, the voice behind the Foreclosure Deals Coach podcast, and I share an exhilarating discussion on the virtuous cycle of teaching and earning. You'll get a peek into my personal encounter with the legendary Darius Rucker and discover how bravery plays a pivotal role in both personal fulfillment and professional achievement. So, ready your acoustics for a strum and prepare for an episode that promises not just to educate but to inspire you to take on the real estate market with confidence and heart.

Thanks again for listening. Don't forget to subscribe, share, and leave a FIVE-STAR review.

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Make it a Dwanderful Day!

Dwan Bent-Twyford:

Hey everybody, welcome to The Most Dwanderful Real Estate Podcast Ever. I'm your host, Dwan Bent Twyford. I'm America's most sought-after real estate investor and I am so excited that you are here with me today. As you can see, I have an awesome guest who's waiting to share some valuable information with us. And before we get into what Donny does, if you're new to Dwanderful, our motto at Dwanderful is people before profits. So if that is something that resonates with you, then you're at the right place, the right time. I'm your girl, we're your people. Go to Dwanderful D-W-A-N-D-E-R-F-U-L. Dwanderful. com. Opt in. I have some free eBooks and some free gifts for you, and so I took my name, Dwan and wonderful, and I made a new word. So you are now in the world of Dwanderful and our guest is Donny Coram. So, donny, how are you today?

Donny Coram:

I'm doing wonderful, Dwan. Thanks for having me on the show today.

Dwan Bent-Twyford:

You're in the Dwan-derful universe now. I feel Dwan-derful.

Donny Coram:

So first, of all, I'd like to start off. We always like to have a toast, do you have Water or something, you got anything. I didn't bring anything. Actually, hold on, hold that thought I have a beer from last night.

Dwan Bent-Twyford:

There you go. All right, I'm going to start off toast, so cheers to you Everyone that's watching cheers and to you Everybody. Take your drink, everyone. Take your stretch. Get all the thoughts out of your head so you can focus in and you can listen to me and Donny talk for a minute. So, how are you?

Donny Coram:

I'm doing well, Dwan. Thank you for asking. It's been an incredible week and a wonderful real estate journey. I'm so excited to be on your show today. It's awesome.

Dwan Bent-Twyford:

Yeah, I'm excited to have you on today and I get to be on yours too, so super excited about that. So what we like to do is we're just going to throw you straight to the wolves over here. So I'd like you to tell us your name, how people can reach you on all your socials, just so that's in the top of the show notes, and then like one sentence or two sentences what you do, and then I have some fun questions over here and we're going to ask questions and see how you came to be Donny, who's on my show today.

Donny Coram:

I love it. I love it. Well, I'm Donny Coram, also known as the Foreclosure Deals Coach, and you can check me out at www. foreclosuredealscoach. com. Basically, I help people investors to find, figure, fund fix and flip a foreclosure deal. I'm based in the Colorado Springs marketplace, but I have clients all over the country right now who are doing deals in both Colorado Springs and Pueblo and a completely sight unseen virtual flip on a foreclosure deal resulting in a minimum profit of $25,000 or more as a result of working with me as their coach.

Dwan Bent-Twyford:

I love that. $25,000 or more that's awesome and you're in Colorado Springs.

Donny Coram:

I am.

Dwan Bent-Twyford:

I did not know that y ou were in Colorado Springs. So we live over in Bailey, Bailey, Colorado, like on the other side I don't know how to describe it Like we're over, like when you go up 285 to like Evergreen. Yes, we're like over here and you guys are like over there. So just last year I met a woman who started a Rio group in Colorado Springs. Okay, her first name is Dwan.

Donny Coram:

Are you kidding me?

Dwan Bent-Twyford:

I was like no Dwan Petty by chance.

Donny Coram:

Yes, I know, Dwan, she's a client. She's one of my clients.

Dwan Bent-Twyford:

And I was like girl. So I said we got to come. So Bill and I went over there and spoke yeah, Dwan Petty. And we went over there and spoke and I took pictures. I'm like, hey, you got Two Dwan's right here.

Donny Coram:

I know there's not a lot of Dwan's out there. You said Dwan in Colorado Springs. It had to be Dwan Petty. She's awesome though. They're great people, she's awesome.

Dwan Bent-Twyford:

So she and her husband, we all work together a little bit now. But it's like, oh, colorado Springs, maybe you know Dwan. So it's super weird because we did a workshop for her group and when people go, hey, dwan, we both turned around Because neither one of us are ever used to being in a room with another person named Dwan and she's the same all the same and I was like, oh, so we took a picture, like with our little driver's license and our names. It's like two people from the state of Colorado that's awesome.

Dwan Bent-Twyford:

I know she's great, though she's great.

Donny Coram:

All right and on social media.

Dwan Bent-Twyford:

Did you give us all your socials?

Donny Coram:

Yeah, so foreclosuredealscoach. com. You can find me at at sign foreclosuredealscoach. com. I'm on Instagram, I'm on Facebook. I've got a Facebook group Foreclosure Deals Coach, and I've got a podcast that we're going to have you on here soon the Foreclosure Deals Coach podcast.

Dwan Bent-Twyford:

So if you Google Foreclosure Deals Coach, you'll find me somewhere, okay, so that's what I was helping. I was like, listen, just type in Dwanderful like anywhere and it's there youtube, instagram, tiktok and just anywhere. Put it there and there's a million pages that'll pop up about me. So, indeed, I like for deal foreclosure deals that coach. I am a huge fan of foreclosure. My most of my real estate journey for the last 35 years has been specifically in the foreclosure market.

Dwan Bent-Twyford:

But there's a lot of people that don't work that market or they're always looking for things on the MLS and looking for things retail, but the foreclosure market's where it's at there's a ton of people and they all need your help. That's where the business is.

Donny Coram:

I agree, and my business is largely after foreclosure. So it's where the business is. I agree, and you know my business is largely after foreclosure, so it's the bank owned side of it. We're helping people to acquire foreclosures once the bank owns them. We do a lot of stuff pre foreclosure now because that's, you know, not a lot of stuff's foreclosing. To be honest, like it's been a while since foreclosure market's been hot.

Donny Coram:

But I've been in the business for 17 years and I got started as an agent and I was focusing on HUD foreclosures. The reason I focused on HUD foreclosures was because they paid 5% commission. Everybody else was paying 3% commission. I'm like man if I can make more money to sell deals, that's where I want to be. That turned into me buying my own foreclosures.

Donny Coram:

My wife and I flipped over 400 houses here in the Colorado Springs and surrounding areas and then decided we didn't want to our best years. We flipped 47 houses one year, 45 another year and 40 another year and then I kind of realized I didn't want to flip that many houses on my own. So now I'm helping other clients to get into foreclosure flipping. I find the deal for them, I analyze it for them, I fund it with my hard money lenders. I fix it with my contractors and I analyze it for them. I fund it with my hard money lenders. I fix it with my contractors and I flip it with my agents and they get the guaranteed profit. Why? Because I make a little money on finding the deals for them, you know.

Dwan Bent-Twyford:

So it adds up to a great relationship. So you're like a full service. So if I came to you and I said hey, Donny, I'm new, I'm a new investor, I want to start investing in fixer uppers. I'm a new investor, I want to start investing in fixer uppers Yep, you would help me find the deal yes, and you would help me fund the deal yes, and you would have contractors for me, and then we'd be selling at retail, I'm assuming, through you.

Donny Coram:

I'm not the agent anymore, I'm no longer licensed but I have an agent on my team that offers an incredible discount for listing with me because I bring him so much volume. So he's not even a third of what you would pay a normal retail agent because I've set up everything, so it's discounted. We also own a flooring store here in Colorado Springs so we get the carpet cheap. We also have a title company that gives me a special rate for my clients. My lenders give me a special rate for my clients. So the bottom line, Dwan, is it's just less expensive to do a deal with me than it would be we mentioned if you were a new person trying to get started out. Finding the deals were the hardest parts of this process, as you know. So I eliminate that from the equation and then I make all the other parts of it less expensive and easier, so the first time or veteran flipper can do more deals at less cost.

Dwan Bent-Twyford:

Yeah, I like that and that, if we do. My son does a lot of deals in Denver. A lot he does. He buys houses that people have a lot of equity, but they're they're just days away from the foreclosure sale and he partners with them. So you know, he makes up the back payments um, fixes up the house and then, like the homeowner, split it. He does so many deals I'm going to send him up. You have a flooring store. I'm going to send him over to you.

Donny Coram:

Hey, hook me up with that contact. I will definitely hook him up. We love working with investors at the flooring store, you know, because we are investors at heart, so we do of course make some margin on it, but much less margin than you're going to pay retail.

Dwan Bent-Twyford:

Well, they buy this stuff like a Home Depot. They're going to get clearly a better deal over if you've got a store.

Donny Coram:

Yeah, way better deal. Probably a good savings of $25,000 to $4,000 per property just on the flooring alone, because we're using my own flooring store. We spent over $200,000 on flooring in one year when I was flipping all those houses Like man. If we're going to spend that much on flooring, I might as well own the flooring store. So we went out and bought.

Dwan Bent-Twyford:

It's true, though. It's like when I was full-time into wholesaling, I worked with like the same real estate agent, the same title company, the same mortgage broker, like the same everybody, because once you're doing that main deals like that, it's just easier to like look, all my buckets are over here, and when you want to work with me, we're going to work with this guy, this guy, this guy, this guy, this person, and it's just. You know. You like invented a wheel.

Dwan Bent-Twyford:

That's like a fine-tuned wheel absolutely and you're, and you're for people that want to work with you. And when people like oh, I need to find my own title, I want to bring like no we're doing everything right here, because these people know the deal I don't have to reach. So otherwise you're constantly retraining people.

Donny Coram:

That's right and I call it the foreclosure profit system, and over the last I've really been developing it for nearly 20 years but I've really perfected it for other people to use it now, and it's I. I really akin it to buying a McDonald's franchise right, you could open a burger joint and figure it out. But if you want a system that's proven and functional and can get you into doing deals right away, that's where I step in. All the systems dialed in to find it, analyze it, fund it, fix it, sell it all for much less than you could on your own. You're going to make a guaranteed profit working with me. I don't let anybody leave my coaching program without being profitable. It's not good for business, you know. If they work with me, they're going to get a result, and that's what separates me from a lot of the gurus out there who just sell information. I'm not in the information business, I'm in the results business.

Dwan Bent-Twyford:

Yeah, you know, I like that because we, bill and I, also do coaching and mentoring and people like, oh, you know, like not the names that I'm going to People will be like oh the fortune builders, I spent 50 grand. And oh the rich dad, I spent 50 grand. And they name all these people, it's like. So how are your results?

Donny Coram:

And.

Dwan Bent-Twyford:

I get a one phone call for 30 minutes every week on Wednesday. It's like, well, what if you find a deal on Thursday?

Donny Coram:

Then you're in trouble.

Dwan Bent-Twyford:

You had to wait a week. And so many people and I know you do too, so many people are just so unhappy with like the guru. So I feel like I'm a guru, but I'm like an anti-guru guru. I think I'm like you, like, listen, if you're gonna work with me, you're gonna.

Dwan Bent-Twyford:

I'm, I'm actually gonna talk to you that's right on the phone and I'm gonna answer your text messages and and my husband and I and my son, we're gonna work with you directly instead of like sending you off to I call it the puppy mill. Like the puppy mill, you know where you like. You get sent off to the phone room and like Utah, it's like the puppy mill and you just person making 10 bucks an hour is answering questions right out of your program verbatim.

Donny Coram:

That's right. They're reading it from the book and you already paid $30,000 for it. You know they can offer no actual advice. It's not good for people and, unfortunately, these large scale systems and I don't want to name any names either, but I'm going to the Than Merrills of the world, the Women's Real Estate Investor Network. I heard Dwan that they have 20,000 members and people pay $20,000 to get into that group and roughly 2% of the people in that group are actually doing deals. Can you imagine spending $20,000 to talk about real estate? It doesn't make sense. Get a local mentor like you or me who can actually help you to do deals. It's going to make such a huge difference.

Dwan Bent-Twyford:

Yeah all the time, my husband and I we probably still do one show. We really like to travel, so we do like one workshop a month still like, yeah, forever. And so we did one a couple months ago in california. We just did one in cincinnati, we did one in atlanta and all of the people were like, oh, this seminar rolled through town and there's people that spent 50, 60, 75 000.

Dwan Bent-Twyford:

I'm like, first of all, are you insane? Are you insane? And then like, oh yeah, not only that, but then every time I call for something, they upgrade me and I keep paying more money to get, like, upgraded. It's like so I? I detest that business model. My husband many decades ago, we're like we are never going to be. I had an infomercial on tv for about two years and I was like you know what I yeah, I did and I I sold so much like. But then I told at the end of the day it was like you know, I told my husband. I said I just don't like us being in this business model, like we don't get to talk to anybody, we don't get to coach people, we don't get to do that. And I don't want people saying, oh, I spent all this money with juan and I got nothing and I got nothing, and so when it came time to renew the contract, I told the company.

Dwan Bent-Twyford:

I said, listen, I don't want to renew it. So they, they were really super livid threatened me with like death and I was like listen, I wrote it into the contract that you know if I don't want to renew it and I mean it was a big decision because you're walking away from like millions of dollars- Sure, but at the end of the day it's like I can't do it.

Dwan Bent-Twyford:

I cannot live with myself at night knowing what all those other people did. I am also doing, and I was like I'm not going to do it, so I quit.

Donny Coram:

And kudos to you. You know you look at, if you Google again not naming names but if you Google Thad Merrill net worth, he's worth a hundred million bucks. So I'm not knock. I mean, I can't complain about a model that made the guy a hundred million Just for me. I don't want to look in the mirror every day and know that I made my wealth, my fortune, off of taking advantage of the desires of people who are never actually going to do deals.

Donny Coram:

Now, like you know, if you don't put in the work, if you don't actually do what it takes to do deals, nothing you and I can do right. But if you're working hard, you're taking the education, you're actually going out and doing deals, then what you and I teach is very lucrative over the long term, but it's not overnight success. It's not easy money right over the long term, but it's not overnight success. It's not easy money right. It comes down to somebody holding your hand through the difficult stages, and I pride myself on being a coach, not a mentor. I'm going to walk you through your problems. Whatever you're scared about, I'm going to help you through it, but ultimately it's up to you to pull the trigger, as you know.

Dwan Bent-Twyford:

Yeah, I agree. I agree, Like we're always going to have people that invest with us and they don't do anything, but they don't do anything. But if someone's like, hey, I'm really going to do this I mean, our average student makes $108,000 in the first six months on average. So it's like but I'm like, listen, don't work with me if you're not going to actually do it Cause. I don't want my name added to the list.

Dwan Bent-Twyford:

I don't ever want my name on that list of people that roll through town and granted yeah, you're right, it's like, oh, they're worth $100 million. It's like that's great. But how many people did you put into bankruptcy and run up all their credit cards and run up all the stuff and then they didn't make payments? They had to file bankruptcy? Like how many people did you do that to?

Donny Coram:

To get to where you are right, and I'm a man of faith and I just believe that you're going to deal with that at some point in the future. Like, I feel like you make all the money in the world, but what good is if you lose your soul? Right, and I'm just not learning that one.

Dwan Bent-Twyford:

Everybody knows I'm a Christian and I'm like hey, listen. I got to stand before God someday, and behind me are 100,000 people that are bankrupt.

Donny Coram:

It's like you can't do that.

Dwan Bent-Twyford:

I got to just make less and do the right thing.

Donny Coram:

Amen.

Dwan Bent-Twyford:

And at the end of the day I go to sleep. I feel good about it. My people that work, they make money, just like with you. They make money and we don't get our name added to the list.

Donny Coram:

That's right.

Dwan Bent-Twyford:

It's like the black list. It's like I don't want to be on that list.

Donny Coram:

It is. It's a terrible list to be on.

Dwan Bent-Twyford:

I don't want to be on that list.

Donny Coram:

It's a terrible list to be on and so many people are comfortable with it. And I know obviously you're not one of those people, because one of the things I can tell about those people is they would never have me on their show. You know they see me as competition. You and I understand that couldn't possibly help all of them. My heart and your heart, I can tell, is in helping people. So it makes sense to do shows together. Some people can identify with one style, some are going to identify with my style, but there's enough to go around, right, and that's how the exact words that come out of my mouth is like.

Dwan Bent-Twyford:

When I first started teaching, I soon realized like, well, I can't help. I was in, uh, west palm beach, florida. It's like I can't help all the people in West Palm Beach, florida, that are in foreclosure. There's thousands of them and there's me. I was like, well, if I teach other people and if there's enough of us, we can help everybody. I am from the exact exact. Those words would be verbatim out of my mouth. It's like there's enough for every single solitary person on the face of the earth that wants to be an investor to do it. There's enough people, there's enough trouble out there. Everyone can use help and we don't all have to like we need just more people the better.

Donny Coram:

Well, this is an interesting way to make a living if you think about it. We're in a space where we have to take people from a state of inaction to a state of action in an investment that. Let's face it, there's a certain degree of risk in real estate investing. We're mitigating that risk by walking them through it, but if people don't have the right risk tolerance, they don't have the right capitalization, they simply shouldn't be doing this. I'm really looking for clientele who can pull the trigger on a deal. Before I sign them up for coaching, we have that conversation Can you actually do a deal? And if you can do a deal now I'm looking for coachability. Are you going to do what I tell you to do? And some people just aren't. That's just a fact. There's nothing we can do about that.

Donny Coram:

And it drives me nuts, but I don't want to take anybody's money who I can't help to make money doing what we do, and you and I both know anybody can make money doing flipping or, you know, buy and hold, investing. There's so much money to be made. It's just a matter of having the right guidance you got to have the right people.

Dwan Bent-Twyford:

Well, I'm so happy to hear your heart about that because I, you know, I mean, I I interview a lot of people and most of the people you know, like you, are new people to me. So I always interview people and I'm always curious about, like, what are they like? What's their heart? You know, what is their goal? And some people, as I'm talking, I'm just like, wow, they're just like I can feel like they're all about money, and then I kind of regret being in the interview.

Donny Coram:

I wanted to have you on the show.

Dwan Bent-Twyford:

So I try to like talk about other things and then other people like you, I'm like oh, I could talk to you for like two days and just talk about all of it, because I share your heart big time.

Donny Coram:

Yeah, and it's, it's. There's so few of us now, duann, I think the you know the internet and the spreading of bad data about real estate investing with YouTube and et cetera, it's made it so. It's so easy to make money for selling crap. You know you don't have your information to be something. You read it. You know read in a book yesterday that you record a YouTube video on it and tout yourself as an expert. I've done over 400 flips. You've done more than that, I'm sure, in your career and in the end we bring an expertise. That's very rare, it's very hard to get, but a lot of it is doing the first deal. A lot of people need the help to just get past that first deal and I pride myself on that. If you're struggling with getting started, I want to be that guy. If you're struggling with advancing to the next level, I want to be that guy. But the rules are simple You've got to take action and I got to make sure you're positioned financially and mentally to do so, and that's what a coach does.

Dwan Bent-Twyford:

That's what a coach does. Yeah, no, I agree it's. It really is about, because I've had a lot of people I'm sure you have too. I've had a lot of people that want to work with me and after I talked to them for a few minutes, I'm like I don't think we're a good fit. And then other people will say, oh, come on, you can't tell me you turned down that money.

Dwan Bent-Twyford:

I was like yeah, because if someone, if I feel like they're too conservative or they're never going to take a risk or they're never going to get out of the box, it's like I don't want to do it. And I thought that I don't, I don't care if someone is concerned or shy or whatever, but like, hey, I'll do whatever you tell me to do. You've done it, you teach me and I'll do it. I'm like hey, like oh, I don't know, I don't think I could do that, I don't know. And they were like terrified. I mean, I'm still willing to help them, like take the step, but you know there are just certain people that, no matter what, they're not going to take the step. You know that before you take their money, you know they're not going to take that step. So it's like send them off.

Donny Coram:

Well and you meet people from all sorts of walks of life and we've talked about the other Dwan like they came to to me they wanted to do a deal. They were in a deal they found on their own. Quite honestly, most of the time I find the deal, but I'm happy when they find it on their own because it saves them. My assignment fee is 10 to 20 000. You know I still make sure they're going to be profitable, but I take a good chunk off the top because I've got expenses in marketing and whatnot to locate deals.

Donny Coram:

But they they just needed that final push right to actually do, actually do a deal. And now they're actively doing deals and I don't want to take credit. They did the work, but some people just need to pay somebody to get going and that's. You know, I'm sure people come to you but, like you said, you can tell the people that need a little bit of push and then you can tell the people that need to be dragged, kicking and screaming. And as I get more and more advanced in coaching, I don't have to take streaming people anymore, right, you're?

Donny Coram:

coming with me but we're not doing this journey you know I'm so with you.

Dwan Bent-Twyford:

I love your heart. Okay, so now you're in Colorado Springs, so do you work just there, or are you like nationwide?

Donny Coram:

So I have clients all over. But one of the rules right now for my clients is that we have to do a deal here in my local market. So we're buying in Colorado Springs and Pueblo, primarily right now. Pueblo because it's less expensive and a little less competitive, and Colorado Springs just because I've done so many deals here that it's just easier for me to find them here. I am looking to expand into a warmer climate by this fall. I want to be in Phoenix or Vegas or anywhere that doesn't have snow. I'm just tired. I'm getting too old for winters.

Donny Coram:

Dwan, I don't know what it is, but right now I have clients in New Jersey and Las Vegas and all over the country, but they all have to buy a house right here in the local market to do their first deal. But we send them videos and pictures and we walk them through the whole process and they can fly out here and see it if they want. But I think it's so important to get that first deal done in a market that I have full control over. Once in a market that I have full control over. Once you learn the process, then we can expand that knowledge to other markets and we can find deals anywhere.

Dwan Bent-Twyford:

Yeah, you know, I like that. I don't think most people that do any kind of coaching would would be that strict Like, oh, you have to do your first deal here. They'd be like, oh, we'll do you wherever you're at. And. But I agree with laid out and if they do their first deal there, especially if they come there, like you know, they should invest the time and the money and fly there and see the area and see the markets and see the neighborhoods and see the stuff, because you know any good investor invest out of their own market anyway. They invest all over the place.

Dwan Bent-Twyford:

But, if they learn it and they do it in Colorado Springs, they can take that wherever they're at and they can do it, and they'll have the same result, because you're still going to be watching over them and coaching them.

Donny Coram:

Yeah, and the idea is dialing in a system. Once again, this is a franchise for flipping it's it's. You can do this anywhere. That's the fact I could build out construction teams.

Dwan Bent-Twyford:

Do you sell for your size?

Donny Coram:

Yeah, I mean, the foreclosure profit system is not a franchise in and of itself, but I treat it like one. It's a system that you can take and repeat. So it comes with education and backing, but the first deal everybody's got to get through their first deal. The biggest challenge, I think, is just getting past it, getting that first paycheck. So we do that here and now. You've bought a system from me that you can repeat that and do that wherever you happen to be located. But getting started, it just has to be here because I can control it here and I'm a bit of a control freak, I guess. But I just want to make sure that nobody gets hurt on my watch and the only way to make sure that's the case is, if it's in my neighborhood, I can go see it, I can make sure it's okay, they keep the profit. But I walk them through that first deal so they learn the is more beneficial because I can control it, because it's in my backyard.

Dwan Bent-Twyford:

I love it. Yeah, no, I'm with it. I'm actually in Iowa right now. So my husband's from this is my little like farmhouse kind of background in Clinton, iowa. My husband is from Iowa and we live up in Bailey, like kind of on the other side of the mountain, I guess from you and my husband's from here. So we come back for like high school reunions and stuff like that and I was always like this sounds like the cute little downtown. It's like this is like a downtown. That time I literally forgot this downtown. It's just it's cute, but there's like nothing going on. So we start talking to people. We're like, oh yeah, they have this uh downtown rejuvenation kind of thing going on. So so over the last couple of years we bought 20 buildings here.

Donny Coram:

Oh my gosh. So you basically want a small town in Iowa now?

Dwan Bent-Twyford:

Kind of. So we're like hard in the paint right now. So we've got 20 and this is only like three blocks this way and three blocks this way. It's a little area and I think we have 20 parcels. They're not all L buildings, but it's huge and I think we have 20 parcels.

Donny Coram:

They're not all L-built.

Dwan Bent-Twyford:

A couple of them are five-inch parcels, but it's huge and it's like and people are like, well, why would you do that? You guys live in Colorado. It's like well, we go to Florida all the time, so we do deals there. We go to Texas a lot, we do deals there, we do deals in Colorado, we do deals in Iowa. Like, like, a deal's a deal, we'll do deals anywhere, it doesn't matter where it's at.

Donny Coram:

That's right. Well, as long as someone's controlling it, as long as you have the right operator, you know a deal's a deal as long as somebody's watching it. And the problem with some of these systems is they're trying like we mentioned. You know Than Merrill on the 800 number for the call center. That person doesn't know any market, much less the local market that you're in you know. So I know this market really well. Like you said, we've done some deals in Florida. I know that market to some degree. I can learn any market. But since I'm already here, you're buying advice from a local professional right here inside the market. The probability of failure is extremely low because I'm controlling all the variables.

Dwan Bent-Twyford:

Yeah, I like it, I like it. So we have a lot of people that invest over here in Iowa now Like, oh, we want to do stuff in iowa. It's like, well, you can, you can use our people, our managers, you can use our property, you can use our rehab or you can use whatever you want to. Uh, so I'm like, but you know, so I, but I'm like you, as long as you you can help them and you have the control and the b. And then when they go to their market maybe they live in I don't know texas they can learn to find a title company and use the same person all the time and find some rehabbers and use them all the time. And when they find all that, they'll do great, because once you get your team, you've got your team.

Donny Coram:

That's right and people, you nailed it. It's about building the system and the team. Right the flipping. What we do is not that difficult. It's buy low, sell high. There's not a lot of variance in between. Right, you make it tough if you don't know the right people to call. Like you got to know what the title company is supposed to look like and you and I both know they're investor-friendly title companies and there's just going to be a royal pain in the tuchus. Right, and until you work with an investor-friendly one, you're not going to be able to tell the variable between the two. So I'm just setting it up here, so you get it. You can do as many deals as you want here, but if you wanted to expand to Iowa, texas, whatever, once you've done a couple of deals, it's much easier to do that because you want to understand what it's supposed to look like.

Dwan Bent-Twyford:

Yeah, no, I love it and it is. It's like you know, I, I remember when I first first first started um I, so I, I'm dating myself here I started back in South Florida, there was not even a REIA group yet. Oh wow, there was not even pagers. This is like 1988, 89, 90, like oh gee. And when I first did a deal or two, a Rio group did open and then there was a couple of title companies and I had closed just a few deals and I think just through like because I had rehabbed them, I had fixed them up, so they went through like regular title companies. But once I discovered like investor friendly, it's, like it's a whole, nother business.

Donny Coram:

And like.

Dwan Bent-Twyford:

those are the title companies that know all the stuff and help us look for all the things and you know, lean, just all the things and then you know how to close the deals right. And there's been quite a few transfers of title along on these deals.

Donny Coram:

Absolutely.

Dwan Bent-Twyford:

You got to have an investor-friendly person, because if you're just trying to do everything at like a retail place, it's going to cost you a fortune, it's going to take too long, you're going to pay way too much money and they're never going to get what you're doing.

Donny Coram:

And it's risky. And the reality is people lose money if their team's not dialed in, like it's a title company misses something they would have caught in an investor-friendly title company. If you don't have the lean, you know, the proper title insurance, that's costing you money because you didn't get a hold open policy when you should have Like just a long list of things that the rookie investor and retail title company doesn't understand that you and I, as experts, understand, and that's why it makes sense to hire coaching.

Donny Coram:

get somebody to help you out you know me or you or whoever but don't. You wouldn't try to fly a plane or get your pilot's license without hiring a flight instructor and you really shouldn't do a flip or your first investment deal about getting a coach.

Dwan Bent-Twyford:

Yeah, no, I'm with you. So if someone is like new, new, and they come to you they're like, okay, donnie, I want to flip a house. What is like? Something like do they have to have a set amount of money? What's something that? What do I need to do to qualify to work with you? Because I bought the coaching and I drank the Kool-Aid, I'm like, okay, what do I need to do? What's? Give me like one actionable step. Well, what do I need to do? Give me like one actionable step.

Donny Coram:

Well, there's actually three. I'm going to give you the three steps it takes to be in my coaching program. Number one you must be willing to do a deal in the Colorado market. Right, because, as we talked about, I'm only doing deals right here right now. I will be pushing other markets in the next year or so, but right now you must be willing to buy a house in Colorado. Number two you must be liquid to our minimum of $50,000. The basis of that is we're buying at an average of 300K in Colorado Springs right now. The lenders used to want 10% down but things have gotten dicey so now they want 15% down. So you're going to need about 45,000 to 50,000 liquid. And if you don't have it, then you're in the education phase and that's okay. But it doesn't make sense to pay me for coaching if you can't buy a deal. So I'm not going to take anybody that doesn't have the liquidity to do a deal right, okay, I love that, I love that.

Donny Coram:

And number three, and perhaps the most important and I mentioned it before is you must be coachable and I want to make sure that you're in a mental position where you're prepared to take advice. You know as well as I do Dwan. Way back when you did your first deal, you were nervous, you were concerned. All these concerns are valid. It's a part of the process, right it?

Dwan Bent-Twyford:

is but you did it anyway.

Donny Coram:

You pushed through. Maybe you didn't. Did you have a coach when you got started?

Dwan Bent-Twyford:

No, you did it on your own, See. I'm 100%. I didn't even know coaches existed until I was like five years in.

Donny Coram:

Okay, see, and that's not, that's not abnormal, right In my world. You must know a that obviously, if you're having a conversation with me, you know that I exist, but also that you're ready to be coached. You must be willing to understand that you're going to be put in a nervous position somewhere along the way. It's supposed to scare you a little bit, right? So if you don't feel like you can be pushed to get the best out of yourself when you need a coach, then I'm probably not the right fit and that's okay. But if you're willing to do a deal in Colorado, you got the 50K liquid and you're coachable. I think I'm the right guy to help anybody to do a foreclosure for.

Dwan Bent-Twyford:

Gosh, you are. I'm going to send people to you. I love what you do. I love that it's like I'm going to say hey you don't need to go talk to Donny man, he's your guy.

Donny Coram:

That's a huge honor coming from you.

Dwan Bent-Twyford:

Thank you I have a lot of people in Denver. They're like will you guys help me through a deal? Like, while we're in Iowa for the summer, I'll coach you, I'll guide you, you can use your phone, I'll look at what I want. But if you want someone to stand next to you, I can't do that.

Donny Coram:

So you Absolutely and I'd be honored. That's really the client I want and I tell you my big picture vision. It is kind of self-serving, but I think when people understand my motivation, I want 50 clients here in the Colorado market each doing four deals per year. If I'm averaging a $10,000 assignment fee profit from each deal, that's $2 million a year plus what I'm charging for coaching. I can make an incredible living by simply helping people to achieve their objectives right and I'm super transparent about this. I make money as long as you're making money right, and a lot of coaches don't care about that because they're just selling coaching, but I built this system so they can. If I'm doing well, they're doing well and vice versa. And whoever you hire to coach, they need to be super transparent on their goals for you, if it's just to sell you a $ 000 coaching package.

Dwan Bent-Twyford:

Don't walk, run, get out of there, get somewhere else. I tell me all the time, like, listen, you need to run for the hills. Like, why did you do that? That's right, that's right and you know and I'm all about people like now when I started way back, um well, I guess we'll probably talk about more of them on your show, but the only person on tv was carlton sheets yep, I don't even know, some people don't even remember that there was no, rich dad, there was no fan.

Dwan Bent-Twyford:

there was, I mean, there was. The internet wasn't even out until 1998, so I was a decade in before the internet came out. So now you know I. So I think the good thing is um, you know, I learned by the seat of my pants, so I made a ton of mistakes, but I learned from each mistake. I thought, oh, I could just teach other people like to do like I'm doing and you know, we can help more people, which I like. And now I feel like there's so many voices and videos and people that people get on YouTube and they start watching videos like, oh, I could work with this person or that person. Nobody knows who to really trust anymore and there's so many people that present as experts that have only done I mean, you know this. You know people that do one deal and write a program.

Donny Coram:

Absolutely.

Dwan Bent-Twyford:

And then they're like an expert, it's like, but we know behind the scenes that person did one deal and wrote a program.

Donny Coram:

That's right. That's right. It's hard to know who to trust, right? Well, you made a lot of mistakes, I made a lot of mistakes, and the thing is that's what you're buying with a coach, is you don't have to make the same mistakes you and I made because we paved the way for people. Now you're paying up front for coaching, but you can dodge some of the obvious mistakes. I look back and go how could I have been so stupid? Well, how else would I have known I had a coach? I got a coach later on in the game, but I realized I need help, like, if I'm going to really expand this thing to where I want to go, I got to hire somebody to help me out, and I'm looking for people to realize there's no reason to do this on your own.

Dwan Bent-Twyford:

If want to invest, invest in a coach and then they'll help you to do the right investment move to make money. On this deal, I agree. I tell people all the time now there's the, the wheels already been invented, you don't need nobody. Nobody in the whole world that wants to invest needs to figure it out.

Donny Coram:

That's right.

Dwan Bent-Twyford:

Because already people like you and like me that already did figure it out, already made mistakes, already did that, and I always I tell people all the time I said, if someone so this is just one of my things If someone says, well, my, my brother or someone's going to help me or whoever, or I'm going to buy coaching on someone, I mean listen, unless they've done like 200 deals, they don't know enough to teach you. That's kind of like my line. So when you said 400, cause I know that if you've done 400 deals, you know what you're doing. I know how hard that is to do that.

Dwan Bent-Twyford:

So when someone says, oh, I've done 25 deals, I'm going to start coaching people, it's like no you have barely scratched the surface you need to have at least 200 deals under your belt before you think about helping other people, because you don't know enough.

Donny Coram:

Well, and the problem is there's no regulation in our industry.

Dwan Bent-Twyford:

Or even a hundred, even a hundred, but if you have, I don't know, I just said two, two fifties, like the number.

Donny Coram:

I like that. I think the problem is there's no regulation, like you said you could. You can literally call yourself a coach. You could do one deal and call yourself a coach tomorrow afternoon. There's no way for what we do, right? So you got to ask about the resume. You got to ask how many deals have you done? What kind of deals have you done? Because that's important, right? You want to make sure you're working with somebody who's done what you're trying to do. You know, I'm not as skilled in buying commercial buildings as you are, for sure, but if that so, if that's their objective, they should be talking for that.

Donny Coram:

I can help a lot of people to do that.

Dwan Bent-Twyford:

I love it. I love it. All right, we're going to jump topics for a minute. Who's your favorite band of all time?

Donny Coram:

Oh, you're going to love this. Darius Rucker, Hootie the Blowfish I'm actually in a cover band where I'm Darius. It's kind of typecasting, but I play the guitar. You are, yeah, and I play the guitar and I'm acoustic. You're going to love this. My wife entered me for a sweepstakes to meet Darius Rucker. I won. We're going out there August 2nd. I'm going to meet Darius in person and get to play guitar with Darius Rucker. Oh, my god, I'm so fan boy right now it's nuts. I'm a big fan of Darius. I've been playing in bands for seven, eight years.

Dwan Bent-Twyford:

Oh, I love that and I love Hootie and the Blowfish. I love his country. I'm a huge Darius Rucker fan. His cool fact is off the chart.

Donny Coram:

Incredibly cool and he's an incredible businessman. To combine the rock genre and the country genre the way that he did, he created a whole other generation of music called Outlaw Country. Basically.

Dwan Bent-Twyford:

He did.

Donny Coram:

In the 90s country wasn't ready for a Black performer. They just weren't it, just it wasn't something that Opryland was going to sign off on, you know. So he had to kind of produce himself in the rock and then, when he had enough following, he went off and did country which he was passionate about, and that became the Darius Rucker we know today. So just-.

Dwan Bent-Twyford:

You know, I agree, my dad is a huge bluegrass fan, so my parents are from Tennessee, my grandparents so they're back in like the Hank Williams senior days. And the only guy I put for her back in the day was Charlie Pride.

Donny Coram:

Yep.

Dwan Bent-Twyford:

And there was like no black country people. I mean people dipped in and out of it, but there was no one that came in like, okay, I'm in and I'm of color and people love me. Until Darius, I feel like he started this generation.

Donny Coram:

He completely did. Now there's a bunch of Black artists. I mean Beyonce thinks she's a country artist. It didn't work out. That album's terrible, but the idea that now Black performers can be in country was largely because of Darius' record. Yeah, no, I 100%.

Dwan Bent-Twyford:

I've listened to it my whole life, deep down. I like bluegrass, though when my husband's not home and I've got the Sirius TV on, I'll put on some bluegrass. He's like what do you listen to? It's like I don't know. It reminds me of my grandparents Sitting around outside. There was always someone picking the guitar and singing like bluegrass, and as I got older I was like huh, there's all the people in country who are white. When have I only tried to pride? And then you learn about racism and learn about all the stuff. And when Jerry said the jump.

Dwan Bent-Twyford:

I thought he's going to make it because Hootie and the Blowfish are amazing amazing Dani and he's amazing and he's in country, so you're going to go meet him and play with him.

Donny Coram:

I'm going to meet him in person. We're going to go play golf. I understand he's got this charity event for troubled teens or something, so he auctions off time with him, basically. And my wife went way too. I don't know how many tickets she bought, but she bought a lot of tickets because she knows I'm a super fan. And then, like we were actually, you know, you get into the little spats with your spouse, like so we were in one of our little spats and she's like, by the way, you won the Darius Rucker thing. And then like hung up the phone on me. I was like, don't mess with me about something like that. That's not nice, you know. And then, like the day after, she said, no, I'm serious, you won Like top emotional, just like oh, he's my hero, like this guy.

Dwan Bent-Twyford:

Oh my god, I'd be I would be so excited too, and that's now, that's in vegas.

Donny Coram:

You said oh, he's, he's at his place in south carolina, he lives in south carolina do you want to south carolina? You want to south carolina like?

Donny Coram:

hang out with him I guess we're going to his house, we're going to play golf at his favorite course and then all I want, duan, my, my life would be complete if I could play one song, if I could get daris rucker and my voice on the same track. Just once I could die and go to musical heaven right then and there all right, I'm putting that on my prayer list there you go, there you go.

Dwan Bent-Twyford:

I expect you to send me a picture like, hey, send me a test, uh, test. And with a picture with you, with dare, that's so awesome wow, thank you.

Donny Coram:

I'm so excited I've never been. I don't fanboy out very often. I try to keep very normal. He's my exception. I literally become.

Dwan Bent-Twyford:

I would fangirl over Darius Rucker any day. He's amazing.

Donny Coram:

He's amazing. His music's amazing. His voice is amazing. The first song I learned to play on guitar was Let Her Cry. That's been my go-to acoustic song ever since and I think I'm pretty darn good at it.

Dwan Bent-Twyford:

But Darius thinks we're gonna find out what Darius thinks so you don't have to have you on again, like in a year or so, and you're gonna have to bring on the guitar and play a little bit, I would love that I'd had you have your guitar out right now it's right over there, but we're running low on time all right.

Donny Coram:

What's your?

Dwan Bent-Twyford:

favorite food.

Donny Coram:

I'm more of a steak and potatoes kind of guy. We have a steakhouse I proposed to my wife at the famous steakhouse in Colorado Springs, actually just a block from where I'm sitting now my condo's across the street. So we go there a lot because I'm a big steak fan.

Dwan Bent-Twyford:

I am too. What's your favorite time of the day?

Donny Coram:

Ooh, that's a good one. I would say four to five pm when I'm getting off work, um, I'm not much of a drinker anymore, but I do enjoy the colorado state flower quite a bit, um, so that's kind of my time to chill out and settle my day a little bit with a little bit of that, and I uh, I enjoy that time. I got a balcony. I can show it to you. I live on Tejon. I don't know if you've been in downtown Colorado Springs ever, but this is our balcony.

Donny Coram:

We're on the parade route, so I sit on my patio and we enjoy that every afternoon four to five, it's kind of my day.

Dwan Bent-Twyford:

Oh, I know I bet that's great. Okay, next parade's coming over, then I'm going to come hang out with you because you're on the balcony.

Donny Coram:

You're always welcome, always welcome.

Dwan Bent-Twyford:

So two last final questions. So what is your biggest goal that you're working on right now, and how can the Dwan-der-ful family help you to reach your next goal?

Donny Coram:

I love that. I really want to get to 50 clients. Dwan and I know we're both in the coaching business, but I think we've determined that you're in a different space than I am. I really want to hit that 50 clients this year and just get 50 people to do their first flip. That's my professional passion. That's what I really want to be doing. So it would be awesome if there are people who maybe are more local to the market, want to work in Colorado. If anybody out there, I could help with that. That's my biggest thing 50 clients doing four deals a year.

Dwan Bent-Twyford:

All right. So everyone, you're here, 50 clients. So, if you're interested, amazon, colorado Springs is beautiful. So, if you're interested, emerson, colorado Springs is beautiful. I love it over there. It's a beautiful area. So, donnie, I feel like it helps so many of you, reach some of your goals and just one last time, tell everyone how to reach you again. So it's in the show notes, more than once.

Donny Coram:

Www. foreclosuredealscoach. com. Check out my podcast, the Foreclosure Deals Coach podcast, for insights in the investing world. You can follow me on Facebook just Donny Coram. I like friending people all over the country and meeting people, but you can follow me at foreclosuredealscoach. com or at foreclosuredealscoach and you'll find me find me anywhere with that.

Dwan Bent-Twyford:

Okay, I love it. Guys, I have to tell you you're one of my favorite people I've ever interviewed. Honestly, I'm just like, oh, I just love your heart. I feel what you're saying. I feel exactly the same way. It's so hard to find people that really, genuinely, truly just want to help people.

Donny Coram:

I do and the thing is, listen, it's somewhat self-serving. I want to make a lot of money too, but I found that the best way to make a lot of money is to help a lot of people make a lot of money. So you what you want by helping people get what they want.

Dwan Bent-Twyford:

That's what they say.

Donny Coram:

Every coach should have that mindset. If we help other people, we should be compensated.

Dwan Bent-Twyford:

very well you know, if you just help other people, the money will come to you. God will bring it Absolutely All right. So everyone, I know that you all love Donnie for sure, so make sure you follow him on all the social medias. Also, if you're new to my podcast, this is the most wonderful real estate podcast ever and my name is Dwan Bent Twyford. You can reach me at dwandrfulcom D-W-A-N-D-E-R-F-U-Lcom.

Dwan Bent-Twyford:

I've got free eBooks, free training. I've got webinars for you to watch and YouTube. I've got webinars for you to watch and YouTube. I've got I don't even know 300 videos on YouTube at this point. So check out if you want to watch us. If you're like oh, I love listening to these two because you know Donnie, most people listen to podcasts, but I'm a big proponent like, if you want to really enjoy the fun and the magic, you need to go to my YouTube page and watch us because look how much fun we are absolutely, and if I so much would rather watch people than just listen to them, because you get the body language, you get all the stuff.

Dwan Bent-Twyford:

So go over to my youtube channel, just type in wonderful real estate and get over there and watch the two of us and you'll have some fun with us. Okay, last question I want you to give us a parting word of wisdom, but I only want you to give me a single word, one word.

Donny Coram:

Courage Okay, wait, wait, wait, wait, wait, wait, wait Don't tell me what it means.

Dwan Bent-Twyford:

Hold on, hold on. So everyone that listens. You know that every week we have a word of the week, so the word of the week is courage. So I ask everyone to write the word courage on like a sticky note and put it up on their mirror, like in their bathroom brushing your teeth. Look at the word courage, courage, courage, courage. But then I want to know now, what does that mean to you?

Donny Coram:

Take the first step. You know there's a lot of money to be made. Your life could be changed. I sit here before you a student of someone who helped me get where I am today, but it takes a lot of courage to do this and I hope I can help as many people as possible to provide that courage. I know that you do that for a bunch of people, Duann, and this is my passion for coaching, but the courage has to start within a little bit. You got to get that courage internal, but the courage has to start within a little bit. You got to get that courage internal. Find the courage, Take the first step.

Dwan Bent-Twyford:

Make the move. You won't regret it, I promise. Amen. All right, guys, that's what courage means, and to me, I feel the same way. The courage is having the courage to take the first step. Yep, anybody, if you want to, you know, walk, run a five-mile marathon, you still have to take the first step.

Donny Coram:

First step. Real estate investing is lots of first steps, but the first big one, I think, is finding somebody to help you out. So either reach out to you, Dwan, and get started with coaching, reach out to me, get started in coaching. But you got to reach out to somebody. If you really want to do this and you're in the financial position to do it and you have the courage to do it, take that first step. You'll be happy you did.

Dwan Bent-Twyford:

Amen, I couldn't say it better myself. All right, everybody, thank you for being on the show with me today. Donny, I know that time is our most valuable asset, so I appreciate you spending the time with me and don't hang up yet, because I want to make sure I get a little bit more information for you before we disconnect over to the next thing and everyone else that's watching. Thank you for watching. I want you to do me a favor. If you had a good time, if you enjoyed the show, if you learned, if you laughed anything, if you're fanboying over Darius Rucker, anything, I want you to leave a five-star review. Subscribe on wherever you listen to podcasts. Subscribe on YouTube, subscribe everywhere and leave reviews and and share. Don't don't be a gatekeeper. Share with everybody about that.

Dwan Bent-Twyford:

We both have shows, because podcasting is definitely a labor of love and it takes a lot of work to do them and to arrange the guests and all the stuff that we do, and we do it to help you and educate you and help you in your journey as well. So help us back in return and we'll be back next week. Same bad time, same bad channel. And remember that the truth is in the red letter. All right, everybody. See you next week. Ciao, donnie, thank you.

Donny Coram:

Thank you.