Flip Your Way to Six Figures: From Stuck Condo to Green Bay Profit

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We trace Jennie Buah’s path from an underwater condo to a six-figure flip in Green Bay’s Indian Trails, spotlighting the mindset, systems, and financing stack that turned overwhelm into action. This episode breaks down how she built confidence, raised private money, and learned to move fast — even when the numbers weren’t perfect yet.

Inside this episode: 

💥 Massive imperfect action as a repeatable habit
🏠 Learning at RIAs without drowning in acronyms
🚪 Walking open houses to build rehab and cost intuition
🧰 Using contractors to validate budgets and scope
🤝 Making flexible offers that solve sellers’ real problems
💸 Leveraging bridge loans and HELOCs for speed and runway
🏦 Using DSCR loans to refinance unbankable deals
📊 Tracking interest, fees, and holding costs with discipline
💬 Building trust to raise private money ethically
🔁 Preparing multiple exit strategies for shifting ARVs

Jennie’s story is proof that progress beats perfection — and that consistent, informed action compounds into confidence and capital.

If this episode helps you take your next step, please share it, rate it, and leave a quick review.

⭐ Every rating helps us reach more Wisconsin investors and get closer to our goal of 100 episodes built by real people doing real deals.

Episode Transcript

SPEAKER_00 (00:39):
Hey everybody, welcome back to another episode
of the Wisconsin Investor.
I'm your host, Corey Raymond,and I'm super duper excited for
today's episode, and I'll tellyou why here in just a second.
As I do on every episode,though, guys, I always bring you
our sponsor, and we've beendoing this over 60 episodes now.
Surprisingly, it's been the samesponsor for all 60 episodes.
Okay, maybe not surprising, butit's Wisconsin Discount

(01:01):
Properties.
Woo-hoo! Anyway, one of thereasons we uh talk about this
every single week is because somany of you guys listening to
this are wanting to grow yourreal estate businesses, whether
that's in flips or rentals orrent to own or Airbnbs or
whatever the case is.
And basically every single week,Wisconsin Discount Properties is
putting off-market deals at adiscount into your inbox.

(01:24):
So it's a great opportunity foryou to pick up deals without
having to fight people on theMLS and go through all the crazy
stuff of trying to negotiateback and forth with realtors and
all that kind of thing.
You can just put in your offer.
If you get it, you get aproperty and bada boom, bada
bang, easy peasy, make somemoney on it.
And our team at WisconsinDiscount Properties is here to
help you try to make as muchmoney as possible on those

(01:45):
deals.
So we really want to be aresource for you.
So if you haven't contactedanybody on our team yet or
you're not on our buyers list,just go to Wisconsin Discount
Properties.com, put yourinformation in, and somebody on
our team will be reaching out toyou to get you rolling and help
you make a bunch more moneygoing into next year, 2026.
We're gonna make it your bestyear ever.
But you gotta be on the list tomake that happen.

(02:05):
So with that, let's get intotoday's episode.
So I have an amazing guest withus today.
She just started working withWisconsin Discount Properties at
the time of recording, a weekand a half ago.
But I have known Jenny for quitea while.
So I have Jenny Boo with us, andshe is a big force out there.
If you guys are part of theWhisco Rhea Network at all, she
runs the Green Bay Whisco Rhea,and um she's an awesome

(02:29):
resource.
We're so excited to have her onthe team.
A lot of reasons for it.
But Jenny, we'll I I won't stealall your thunder.
I'll let you do it.
Yeah, I don't want to take itall away.
I want to let you be able toshare a little bit.
But how are you doing today?
Are you ready to talk some realestate?

SPEAKER_02 (02:44):
And I sure am.
Thanks for having me, Corey.

SPEAKER_00 (02:46):
Absolutely.
This is gonna be a lot of fun.
So tell everybody, just take usback to like when did you get
started in in real estate andhow how did that all kind of
come to fruition?

SPEAKER_02 (02:55):
Yeah, yeah.
Um, so it came at actuallystarted in 2012.
So my husband then and Ipurchased our first condo in
Madison in 2007.

SPEAKER_01 (03:07):
Okay.

SPEAKER_02 (03:07):
And in 2012, I was changing jobs and looking around
the country at you know,different jobs that I could
have.
But, you know, because wepurchased in 2007, we were
actually underwater on thatcondo for a few years, right?
So I like I err on the side oftransparency.
I really want people to knowkind of the honest truth about

(03:29):
what happens, right?
So we were thinking about movingaround the country, and we
didn't have enough to be able tobring money to the table to sell
that condo.
So we were trying to figure outwhat to do, and I remember
exactly it was December 27thbecause I was in my parents'
house for Christmas, and wedecided to list the property on

(03:50):
Craigslist of all places.

SPEAKER_00 (03:52):
Correct.

SPEAKER_02 (03:52):
This is when Craigslist was still the thing
in 2012.

SPEAKER_00 (03:56):
Yep.

SPEAKER_02 (03:56):
Yeah.
Um, so we listed it for rent,and I downloaded a lease from
the internet and a hope and aprayer.
I didn't, I knew nothing aboutnothing at this point.

SPEAKER_00 (04:05):
Yeah.

SPEAKER_02 (04:06):
And within just a couple days, we already had it
rented for February 1st.
And we said, oh shoot, what arewe supposed to do now?
So we quickly drove around townand found a little one-bedroom
apartment on the second floor ofa pizza place.
So we moved into that apartmentto be a little bit more nimble

(04:27):
in our career searches while werented out this condo.

SPEAKER_01 (04:31):
Yeah.

SPEAKER_02 (04:32):
And that caught that got me, you know, catching the
real estate investment bug fromthere.
So that was 2012.
Um at that point, I startedgoing to the Madison RIA.
We were living in Madison.

SPEAKER_01 (04:43):
Okay.

SPEAKER_02 (04:44):
And I don't actually know if that one was part of the
Whiskel RIA at the time.
I don't remember the exacttimeline.
Uh, but I was maybe 25, 24, 25.
And I got really overwhelmed,like severely overwhelmed in
those rooms, right?
There were acronyms flyingeverywhere, terms I didn't

(05:05):
understand.
Um, and so I was there, I wasgoing, but you know, it felt
like something a little out ofreach, right?
So any of you coming to the theRIA meetings, like if you feel
that way, ask for help, right?
Because there are so many thingspeople talk about in those
meeting rooms that they don'tthey don't remember what it's

(05:28):
like to be a newbie.
So they're talking in terms andindustry terms and acronyms, and
they forget that there arepeople that don't fully
understand the conversationsyet.

SPEAKER_00 (05:36):
So 100%.

SPEAKER_02 (05:38):
Yeah.
So I actually I chickened out.

SPEAKER_00 (05:41):
Really?

SPEAKER_02 (05:42):
I yes, I backed out of investment real estate for a
few years for a number ofdifferent reasons, right?
I was traveling corporate atthat time.
I started to have my family, soI was a stay-at-home mom for a
little while.
Um, and you know, that takessome of your your extra money.
For sure.
You have to focus that indifferent places.

SPEAKER_01 (06:03):
Yep.

SPEAKER_02 (06:04):
Um, but when we moved up here back, this is
where I'm originally from.
So I returned back home toNortheast Wisconsin.
And when we moved back here in2018, I started to get more
serious about real estate again.
I never lost sight of it.
I kept learning about it.
I kept reading and listening topodcasts and you know, getting

(06:25):
involved a little bit.
So when in 2018, when we movedback up here, I pretty
immediately started to searchfor other RIAs because I was
feeling the itch to get out anddo more things.
And I found the investor networkhere to be so incredibly
supportive.
And they just, I mean, so manypeople just poured into me.

(06:48):
Um, but especially the co-hostthat I work with now in the
Green Bay Wisco Rhea, JoeGracioni.
Um, he just took me under hiswing and didn't let me quit and
just, you know, kept cheering meon.
And that kind of network that wehave here in Northeast Wisconsin
really has propelled me over thelast seven years to, you know,

(07:08):
set my strong footing in realestate investments up here.

SPEAKER_00 (07:13):
That is awesome.
So there's a couple things Iwant to go back to a little bit.
You talked about the 2012,you're underwater on this on
this condo, you're not reallysure what to do, but you're
like, hey, massive imperfectaction.
That's what we call it, right?

SPEAKER_02 (07:26):
Exactly.
We didn't even think about it.
I think we just had our own theold listing photos from when we
purchased the place.
I think I just stole those andused them.

SPEAKER_00 (07:37):
But that's what one of the things I think that's
really helpful for people tolisten to is like I I worked at
a company prior to getting intoreal estate and we did sales and
whatever.
We were all worked from home,but there was a group of us that
all were in in the Green Bayarea.
And there was a gentleman thatworked with us, and like I was
starting to get into real estateinvesting while we were working
there, and and we'd always betalking, like, we were always

(07:57):
scheming how to get out of ournine to five, right?
Like we're like, we love weloved the company we worked for,
but like the hours were a grind,and it was like the work life
balance wasn't great.
And um, I'm like, well, dude,I'm doing this real estate
thing, right?
And it eventually it blossomedinto what we now have at
Wisconsin Discount Propertiesrelatively quickly, and I was
out of my job within like a yearand a half of doing this.

(08:18):
And I remember he was like,right that we started
researching and doing this stuffat the same time.
I just took massive imperfectaction and I was like, I'm I'm
getting out of here as quicklyas I can.
And he still, to this day, likea decade later, has not bought a
deal, still researching, stillanalyzing, still in analysis
paralysis, still trying jumpingjob to job, trying to figure

(08:41):
things out.
And I'm I feel bad for him, lovethe guy.
But I just think what you didthere is a great example of
sometimes it's not always gonnawork out, but if you don't take
the action, you're never gonnaknow.
And you can learn and researchand listen to podcasts like
this, you know, we're 60-someepisodes in.
If you started listening toepisode one and you still
haven't done a deal yet, likesometimes you just gotta take
that leap.

(09:01):
You know, now you did massiveimperfect action and then you
paused for quite a while and youdid a lot of the research, but
then you got back into it.
And I think that's okay too,right?
Everybody's timing and thingsare gonna be different.
But I think sometimes, like, ifyou're on the fence and you're
like, I gotta, I want to dothis, I want to do it.
Sometimes you just gotta takethat massive imperfect action,
just kind of figure it out asyou go.

SPEAKER_02 (09:20):
Mm-hmm.
Absolutely.
And it doesn't have to berisking a hundred thousand
dollars of your own money on aflip, right?
Right.
I mean, that massive imperfectaction, I feel like you have to
work your way up to courage forthat.
Um, but there are differentlevels of diving boards, right?
You don't have to go to the verytall one first.

SPEAKER_00 (09:36):
Right, exactly.
Yeah, I would say don't go buyuh, you know, an apartment
building with your first deal ifyou don't know what you're
doing, right?
If you haven't done yourresearch or don't have your
education, but yeah, I thinkthere's like kind of a level
that you can step up to.
And that's why I encourageeverybody, you know, at the
start of this, hey, just get onthe buyer's list.
Step one, right?
Start getting deals coming in,start analyzing deals.
Call us, we'll go through thedeals with you and say, here's

(09:59):
what here's what you're missing,here's what you're not missing.
Go to the go to the Wisco Rio.
We have a group called the REISuccess Club.
Come out to that.
We meet every month, greatgroups of people there.
If you're in Madison orwhatever, another there's
networking opportunities allover the place, right?
People who want to help, but yougotta put yourself out there a
little bit and take that massiveimperfect action.
And sometimes for some peopleout there, that massive
imperfect action is just gettingto one of these meetups.

(10:21):
That's scary, that's scaryenough, right?

SPEAKER_02 (10:23):
Yeah, and so when I started again in 2018, I did
start to go to a lot of thedifferent meetups.
One of the other things that Idid though, speaking of massive
imperfect action, is trying toget myself out into the field to
do some of that analysis too.
Because I did get on buyerslists and I did start doing
looking at the numbers ondifferent properties and

(10:44):
running, learning how to runnumbers at scale, though.
Like I I wasn't going to make anoffer until I ran a hundred
analyses, right?
Oh, to make sure I knew kind ofwhat was what was going on and
how to run the numbers and do itquickly.
Like I wanted to be able to runnumbers within 30 minutes.
And I went for gosh, probablysix or nine months.

(11:08):
I went to every open house Icould find.
Because I didn't want to wastepeople's, you know, realtors'
times.
Like there are realtors thatwill help you as an investor
learn how to do it.
But I mean, I didn't, I don'twant to waste their time.
So I can just get into openhouses and learn how to walk
properties.
It didn't even have to be aninvestment property, it could
just be a regular on-market$300,000 turnkey property.

(11:32):
But I was walking propertieswith or without my kids in tow.
Like that's okay.
So you just go to an open houseand say, I'm not here to buy,
I'm just here to look.
I'll only be here for a fewminutes.
So the realtor isn't, you know,wasting any time on you.
But take notes and make sure yougo back and do your analysis.
But get into houses.

SPEAKER_00 (11:53):
That's such a great point, Jenny.
So one of the things uh I I'vesaid on multiple episodes here,
when we came up with our processat Wisconsin Discount
Properties, I wanted to make itas easy as possible for people
to analyze a deal and the amountof time it takes them to scroll
on the toilet instead of sittingon Facebook.
Yes, they can they could beanalyzing a deal, right?
That was ultimately like what Iwas thinking of like instead of

(12:14):
sitting on your phone looking onFacebook, why not make you know
25 grand while you're sittingthere and analyze a deal?
But to your point, there's alevel of comfort that you have
to get to to be able to knowyour numbers.
And I I've never heard anybodysay what you just said, Jenny.
So I think for those of you guysout there listening, that's a
huge nugget Jenny just dropped.
Getting that experience andgetting into these properties
and at least just run innumbers.

(12:35):
Now, did you take contractorswith you or anything like that
at any point?
Or did you just go through andyou know call people questions,
or how did that work?

SPEAKER_02 (12:43):
No, I did.
At one point there was a listfloating around.
I don't know where it ended up,but there was a list of general
contractors that I called andasked if they would walk
properties with me.
I paid them for their time.
Um I didn't just I didn't justexpect them to come and do it
for free.
Um, and it would only be I onlyasked for that on the properties
that I intended to put an offeron.

(13:04):
So I would have already gone toan open house and then I was
interested in it.
So I knew that I wasn't gonnawaste their time.
And then I would ask acontractor to come with me.
But what I always did on thatwas ask them, like I compared my
numbers with theirs.
So I could see this is what Ialready had prepared myself
with.
This is what I saw.

(13:24):
Yeah, what do you see?
And how can I bridge that gap?
And how did I not see that?
And how can I continue to learn?
And what are your costs?
What did I think the costs were?
I mean, I spent so much timelooking at their costs, my
costs, going to Home Depot,going to Lowe's, going to any
different place you can you cango to for you know these rehab

(13:46):
numbers, I spent so much timebuilding up what I thought was,
you know, my walkthrough listand spreadsheet.

SPEAKER_00 (13:54):
That's awesome.
So when you were walking throughprior to the contractor, what
where were you coming up withthese numbers or like things you
thought needed to be done?
And then were you bouncing thatoff of people or like what was
your were you just trying to getin and just get eyeballs and and
and yourself into theseproperties, or what was
happening with the ones that youdidn't have the contractors on?

SPEAKER_02 (14:15):
Yeah.
So that's part of what I askedfor when I was networking with
people in the the RIAs.
So anytime I would find peoplethat I knew did rehabs, whether
it's flips or just you know,rehabs on their own properties,
I would say, Do you have anyspreadsheets that you use or
any, you know, numbers that youwould be willing to share with
me about what it costs you to dothese rehabs?

(14:38):
And a few people shared them.
Um and then, you know, there aretools online, you know, Bigger
Pockets has some like that.
There's a there are a coupleother tools online that you can
use.
And I just sort of consolidatedthose all together as a starting
place and then just you knowmassaged it from there based on
what contractors told me,eventually what my projects
ended up being as well.

SPEAKER_01 (14:59):
Yeah.

SPEAKER_02 (14:59):
Because what I have found is that one person's
spreadsheet doesn't mean it'sgonna work for you.
Everybody has a different styleof rehab, and you know, the the
type of kitchen that they'regonna do may or may not be the
type of kitchen that I do.
So you do have to take thosetemplates with a grain of salt.

SPEAKER_00 (15:18):
For sure.
I know one thing that we used todo early on when I had Wisconsin
discount properties is I wouldput rehab, like, here's what I
would do to the property, right?
And I would put my rehabestimate in there.
And two things happened.
One, I realized I was shootingmyself in the foot because I did
this once on a rental propertybefore I really owned rentals.
And one of the guys is like, Iwas like, I would do the
windows, and this is what it'sgonna cost to do the windows.

(15:39):
And I was trying to make it,again, as easy as possible for
my buyers so that I'd take allthe guesswork out of it.
But then they're like, Oh, Iwould never do the windows on
this.
This is just a rental propertyfor me.
And I'm like, dang it, I justplanted the seed of like 10
grand of expenses I didn't needto, right?
Exactly.
And then on the on the flip sideto what you're saying is like
some people are gonna plan onusing it as a rehab so or as a
rental.
That's gonna be a differentlevel of rehab than somebody

(16:01):
who's planning to flip it andsend it, sell it to an end
buyer.
So there's different levelsthere.
So for me to say, well, this isgonna be 25 grand, I'm like, uh
I don't know what yourcontractor costs is, I don't
know what you're planning to doto it.

SPEAKER_02 (16:14):
If there's been tickets that are quotes, some
people hire it out.
It's just it's impossible toknow.

SPEAKER_00 (16:20):
Exactly.
Talk about like what's been yourmost successful deal, Jenny.
Can you can you talk about oneof maybe one of the deals that
you've had that was like anabsolute slam dunk for you?

SPEAKER_02 (16:30):
Oh yeah.
Um, there was one actually inIndian Trails in the Green Bay
area.
Oh so that is a it's ahigher-end neighborhood.
And I actually found almost allmy deals so far I have found
through networking.

SPEAKER_01 (16:44):
Okay.

SPEAKER_02 (16:45):
So this was brought to me by a realtor whose
previous client called and saidthat they had a house they
didn't know what to do with.
And she went in there and took alook at it and realized that it
it was not marketable, it wasn'table to be put on the MLS.
So she, being the good realtorwho that she is, called up some
of her investor friends,including me.

(17:07):
Uh, and I walked through it anduh we went actually straight
back.
So it was, you know, I waswalking through it with the
family, the family was there.
Uh, we went straight back totheir kitchen table and the
quintessential sitting down atthe kitchen table looking
through the contracts, and we wecame to an agreement on my

(17:28):
purchase price.
The deal with that one, so theclincher with that one is that
they had so it was a mother whopassed away, and then a
70-year-old daughter who wasstill living there.

SPEAKER_01 (17:41):
Wow.

SPEAKER_02 (17:42):
And the 70-year-old daughter needed to move into
assisted living, but she was onthe waiting list to be able to
get into there.
And she didn't have anotherplace to go, right?
She she wanted to stay in thehouse until she had another
place to go.
So she was looking for aninvestor that was willing to be
flexible with her.
So I worked out a deal with themwhere I would let her rent back

(18:06):
from me.
So she essentially became atenant for six months.
So from June until December, shewas a tenant living there.
It was, you know, six-monthlease.
I needed her out by Decemberbecause then I wanted to start
the work on the inside of theproperty.
But in the meantime, theyallowed me to do the exterior
work.
So while she was living there, Iwas taking out 18 trees and

(18:29):
putting down sod and doing allsorts of things.
Um, but we got the exterior workdone before the snow fell.
And then she moved out rightafter Christmas, and I was able
to do the interior work to getit listed in the spring.
Um so that I mean, that turnedinto a nice, not only a good
learning experience for me, itwas a big project, you know,
lots of exterior work, fullinterior work.

(18:52):
Um, but it also was a reallygood learning experience for me
on how to be flexible and reallysolve problems for your sellers.
Uh, because the realtor hadbrought in, you know, a couple
other investors who were notwilling to be flexible with that
and they laughed out on thisdeal.

SPEAKER_00 (19:09):
Yeah.
Yeah.
And that's, I think a couplegood points there, Jenny.
So in our business, what we do,right, when we're negotiating
these contracts for Wisconsindiscount properties, a lot of
times it's not money that peoplecare about.
And I know when I've talked tosome realtor people in the past
about like they, you know,investors sometimes get this bad
stigma out there with realtors,right?

(19:30):
They like think we're the scumof the earth, ambulance chaser,
dah dah, dah, dah.

SPEAKER_02 (19:34):
I am one, so I get it.

SPEAKER_00 (19:36):
Right.
But on the flip side of that,like what we do all the time is
we're just really trying tosolve problems.
Like, you know, if if price wasthe most important thing to
people, everybody would have aflip phone with no data, right?
We'd all be driving, you know,2001 Saturns, right?
And that have 200,000 miles onit because price is the most

(19:57):
important thing, right?
And for some reason in realestate, a lot of realtor people
I've talked to, or people whoare are not in a situation where
they're gonna sell to aninvestor, right?
Like for them to wrap theirbrain around what investors do
and what you know that we arereally solving a lot of people's
problems, that we have goodhearts and good intentions,
right?
Is they don't realize that moneyis not the most important thing

(20:18):
to everybody.
There's a lot of other thingslike trading a car in, you know.
Why would anybody trade a carin?

SPEAKER_02 (20:23):
Right.

SPEAKER_00 (20:24):
It's speed and convenience, right?
And it's the same thing in ourbusiness.
You you solved her problem.
Her problem was I've got thishouse, I need time to get in.
I don't know when it's gonna be,but I need time to get in there
and I need somebody who can workwith me on this timeline.
And yeah, pr price is a factor,but it's not the most important
thing, right?

SPEAKER_02 (20:43):
Right, exactly.
And I've actually been on thereceiving end of needing that
assistance too.
So my very first attempt at thismore creative investment world
up here, I bought a house inO'Connell Falls and I did a rent
to own on that one.
And uh the person I was rentingto own with decided not to

(21:05):
exercise the option.
And so I went up there.
And to be fair, you know, Ihadn't been there in a while,
and this was absolutely my faultfor not visiting the property
for a little bit.
So I'm not afraid to admit that.
Um, but I found probably$40,000or$50,000 worth of rework that
needed to happen.
And I wasn't in the financialposition to be able to do that

(21:26):
rehab right then.
So I reached out to a wholesaleras well and was like, hey, can
you help me find a buyer forthis?
Because it's exactly the samething.
I became the seller in thatsituation.
For sure.
And for me, the end price wasnot the most important thing.
It was the monthly mortgage thatI needed to pay and the, you

(21:50):
know, all the other things thatwere going to add up while I was
attempting to find$40,000 to fixthis property up.
And it was much easier for me.
It solved my problem.
It was much easier for me toover the period of time, you
know, get, you know,$10,000,$15,000 out of that property
than it would have for me to tryand find this extra funding and

(22:14):
deal with the mortgage in themeantime.
And it's an hour out of my way.
And it's just it really helpedme empathize with our sellers,
knowing that there are realreasons that the the monthly
payment feels bigger than theequity loss.

SPEAKER_00 (22:32):
Exactly.
Well, the equity is just air,right?
It's not it's not realized, it'sjust a number that we're
comparing potentially if we're aseller to what we saw our
neighbor down the street sellfor last year, and we think
sometimes justify that we shouldget somewhere in that same
ballpark for it.
But in reality, what we need isa stop to bleeding right before
the seller, right?

(22:52):
It's exactly we don't that isgravy over there what the
neighbor got.
But what we really need as aseller when it boils down to it
is we need to get rid of thispayment and be able to wash our
hands of it and move on.
And so I think that's importantfor all of you guys out there
listening.
If you're trying to go direct toseller, what Jenny and I are
talking about here is reallyimportant stuff.
And this was a big roadblock forme when I got into this

(23:13):
business.
Started learning aboutwholesaling, and I'm like, why
would anybody sell their housefor like 50 cents on the dollar?
This doesn't make sense.
And you know, the market's beenpretty hot for the most part.
I mean, we're seeing a littlebit of a slowdown now on the
with buyers in the market.
But for the sellers, since I gotinto it in 2016, it's been
pretty much a seller's market,right?
And so you're like, well, whywould you ever do that?

(23:35):
Right.
And then I had some of severalsituations like this where I
just really understood whattheir needs were and what they
were trying to accomplish.
And I was like, oh, they don'treally care about money that
much.
Well, that's weird.
Because I because I'mfinancially driven, I'm a
financially motivated person.
So for me, I'm like, wow, Idon't it was like hard for me to
wrap my brain around it until Ireally started to understand

(23:55):
what a lot of these people'ssituations were.
And again, the money wassecondary.
It was, yeah, it was a factor.
Gotta get, you know, we stillcan't can't take a complete beat
down on it.
But if I can solve this majorissue over here, then I'm okay
letting go of some of thatequity.
Right.
Yeah.
So super important.
So talk, let's go back to thatdeal then.
So you said it was a good one.
Can you share some of thenumbers with us on this deal,

(24:16):
Jenny?
How did it work out?
Did you do the work yourself?
Did you find some contractors?
How did you find it?
Let's like deep dive this deal.

SPEAKER_02 (24:23):
Yeah.
I don't swing hammers unless Ineed to.

unknown (24:27):
Okay.
Okay.

SPEAKER_00 (24:28):
You and me both.
And I you don't even want Idon't, I never need to because
I'm just going to mess it upworse than what it should have
been.

SPEAKER_02 (24:34):
Exactly.
In this one, I did not end upputting a couple small things.
Like I forgot to tell my GC thathe should change doorknobs and
like a couple small things.
So I did end up doing those lastminute.
Um, but no, I I hire out themajority of my work.
Um on this one, that IndianTrails one, let's see, I
purchased it for$250.

SPEAKER_00 (24:55):
Okay.

SPEAKER_02 (24:56):
I sold it for$469.

SPEAKER_00 (24:58):
Okay.

SPEAKER_02 (24:59):
And I put about$75 into it.

SPEAKER_00 (25:02):
Nice.

SPEAKER_02 (25:03):
Now with holding costs and you know everything
associated with that.
Um, but yeah, that was a pretty,pretty nice deal.

SPEAKER_00 (25:10):
That's that's sounds to me like a six-figure deal.

SPEAKER_02 (25:13):
Mm-hmm.
Yeah.

SPEAKER_00 (25:14):
Yeah.
I if I had my bell right here,I'd be ringing the bell for
celebrating that one.
That's awesome.

SPEAKER_02 (25:18):
How did you most of them are not that way, but this
one I just I really looked out.

SPEAKER_00 (25:22):
I asked you for your best one.
Yeah.
There it was.
Okay.
How did you finance this deal?

SPEAKER_02 (25:28):
That one, I actually used a bridge loan.
So I went through a true lenderon that one.

SPEAKER_01 (25:35):
Okay.

SPEAKER_02 (25:36):
Um, so that was actually before I knew about the
hard money process.
Like this was actually prettyearly.
I think it was, I don't know,2021 or something.
Before I knew really how toutilize hard money and what it
can do.
And I hadn't yet established allof my relationships with private
money yet.
Um, so I was still workingcorporate.
So I, you know, my husband thenand I, you know, had the ability

(25:59):
to finance this ourselves.
So we got a bridge loan on that.
So for the purchase price.

SPEAKER_00 (26:05):
Explain what uh what a bridge loan is for those that
don't know what a bridge loanis.

SPEAKER_02 (26:08):
Yes.
So a bridge loan is a temporaryloan that you can get to be able
to somewhere between, you know,nine and eighteen months
usually.
Um, it's a loan that you can getto be able to purchase a
property that you know is goingto be a temporary loan.
You're meant to refinance out ofit or sell the property, right?
Many people use them to be ableto move from house to house,

(26:32):
right?
If they if they want to be ableto purchase a future home, but
they have not yet sold theirprevious home, they can get a
bridge loan to be able topurchase the future one and then
be able to refinance out of it.
Um so that's what we did withthat one.
So we because I knew that Iwould need to have even if I had
known about hard money at thattime, I would have needed more

(26:53):
than six months for a couple ofreasons.
Because I needed to rent back tothis person.
It was a large enough projectbecause start to finish that
project probably did take mefour months.
Like even if I was focused onit, it was a large project,
3,000 square feet, full, fullrehab.
So it did take me a good fourmonths to get that one done.

(27:15):
And to be able to sell a 450plus ARB house, you never know
when you're going to get offerson that.
So I wanted a little buffer roomon that.

SPEAKER_01 (27:24):
Yeah.

SPEAKER_02 (27:25):
So the bridge loan was for 18 months, so it gave me
a buffer to do all of that work.
Um, but then the rehab for that.
So we've we financed thepurchase price out of that
bridge loan, and then the rehabcame out of our HELOC.

SPEAKER_00 (27:41):
Ah, I love it.
I love it.
So, those of you guys listeningto this, what Jenny's talking
about, I did not get into bridgeloans a ton in the last episode.
So if you go back and listen tothe last episode that just
dropped, I went through and dida solo episode on a bunch of
different financing options, howto finance deals, a bunch of
different ways.
One of the ways I talking aboutis HELOCs.
Jenny's talking about a perfectexample of this.

(28:01):
This is where you pair yourHELOC with a different thing.
Now, what she's describing withthe bridge loan, a lot of what I
described in that episode, wetalk a lot about at the
community banks, so thecommercial lenders in our area.
Very similar type of thing.
It sounds like Jenny, you workmore maybe more with a national
lender.

SPEAKER_02 (28:14):
I'm a broker.

SPEAKER_00 (28:16):
Okay, so more of a national lender.
And so the difference there isyou're working with what Jenny
worked with was it was a brokerwho's gonna shop it out to a
bunch of big, basically bigoutfits, big companies, right?
Or or small, just a wide rangeof them, right?
When you work with a communitybank, typically it's gonna be
you're gonna have a banker,you're gonna have a relationship
with that person, it's gonna bemore common sense lending.

(28:38):
Where Jenny's talking about herand her husband at the time
where it had to fit into a box,right?
Of like you have these W-2s,your debt-to-income ratio,
you'll hear those terminologieswhen you go that route.
When you work with a communitybank, yeah, it's a factor, but
they're gonna look at theoverall global picture of what
you have.

(28:58):
But having that HELOC is such asneaky tool that so many people
just miss, or they have like,oh, I'm gonna lose my house if I
do this.
And in reality, you're using itfor a short period of time.
You're not keeping this HELOCout there in perpetuity for
years and years and years andyears and years, right?
It's exactly help bridge thatgap that you need out of that 18

(29:20):
months to get this thing rehab,sold, pay your HELOC back, keep
profits, right?

SPEAKER_02 (29:25):
That's exactly it.
I mean, we keep going back tothis theme of massive imperfect
action.
Yeah, right.
Where we just I decided to takeout the HELOC before I even had
opportunity to, you know, beforeI had a property.
So I had gotten myself to thepoint to be able to move and
utilize the financial resourcesthat we had.
If I hadn't taken out that HELOCbefore I had the offer on this

(29:48):
property, it would have been ablocker, right?
We would have needed to thenapply for the HELOC and then,
you know, timelines.
And so as much as you can do toget prepared with all the
financial tools that you have,set up that HELOC ahead of time.
Yes, it costs you some closingcosts and appraisal, but at
least then you know maybe youhave 20 or 100 or$200,000

(30:12):
available to you.
It gives you options.

SPEAKER_00 (30:15):
100%.
So that that's always the debateI hear people talk about, Jenny.
And it sounds like you'reprobably more in the camp that I
would subscribe to.
It's like get the deal and thenthe money will come.
That's what that's one, that'sone you're smiling, right?
Yeah.

SPEAKER_02 (30:28):
The other thing is because it's always so stressful
that way.
But yes, that is usually what Ido.
I get the deal, and sometimesit's very stressful though, when
you have a contract.
In front of you and then you'rechasing for the money.

SPEAKER_00 (30:40):
Yeah, get the money.

SPEAKER_02 (30:41):
I like to be somewhere right in between.

SPEAKER_00 (30:43):
I'm I'm a get the money and then the deals.
You'll be able to move on deals,right?
You can make you can makequicker decisions.
And a lot of times that's whereyou're going to get the better
deals, is because you can movefast, right?
Um, so a couple things youtalked about that I think are
important for some of thelisteners out there, right?
If you're hesitating and you'rein analysis paralysis every
time, every time a deal comesup, you're gonna miss out on so
much money, right?

(31:04):
And part of that analysisparalysis is gonna come from you
not having set up your financialresources ahead of time or
making those connections orraising that private money or
the HELOC opened up or thosetypes of things.
If you have those things and youknow what they are, right?
Okay, I know my private moneylenders are gonna be 10%, I know
my HELOC is seven per whateverit is, right?

(31:25):
And I know I have this muchamount here, I have this much
amount here, I have thiscommercial lender over here who
charges this roughly.
Now, when a deal comes up,you've already got all the
inputs you need to just do youranalysis quickly.
You're not guessing where am Igonna get this$50,000 for the
rehab on this thing.
Like you already know.
That's right.
I got my HELOC here, pair thatwith my commercial lender here,
bada boom, bada bang, done deal.
Here's my numbers, here's how itworks out, right?

(31:48):
Going back to the HELOC thing,too, just to talk about that.
My my current favorite HELOClender, I'll give them a shout
out.
I don't get an affiliate fee forthis or anything, but I just I
love them, so I I promote them.
Johnson Bank, I've been usingthem up for my HELOCs for four
or five years.
I have not found anybody who cancompete with them yet.
So if you're out there in yourin your you have a lender

(32:08):
that'll do HELOC in Wisconsinand they can beat this right now
at the time this drops, pleaselet me know because I'm always
shopping.
As much as I love Johnson, I'mnot I'm not super loyal when it
comes to lenders.
I'm going with whoever's gonnagive me the best deal.
Um, but they have no closingcosts.
So the appraisal fee, yes.
So the appraisal you talkedabout, you don't have to pay for

(32:28):
an appraisal unless you want acertain value above what their
evaluation will do.
So they'll do an in-houseevaluation, no cost for that,
um, no closing costs.
I think they just require youopen like a check-in account for
like 250 bucks minimum.
Yeah, you have to have like a$250 minimum or something like
that.
But right now, they're doing6.49% on the HELOCs.

SPEAKER_02 (32:53):
So it's not Prime plus one or Prime plus two based
on your percentage?
Oh, nice.

SPEAKER_00 (32:58):
Um and uh they'll lock that in for like nine
months.
Will they lock that in?
They'll lock it in for like ninemonths so you can get and get
these deals flowing.
And then uh every time I've everlike if rates change, I only see
it like rates are probably gonnakeep going down, if we had to
guess.
Uh they'll keep adjusting thatpercentage down too.

(33:18):
So uh and they go 90% loan tovalue.
So if you if your house is worth$100,000, your first bank loan
is$50,000, they will give you aline of credit for$40,000 on
that thing, which is awesome.
Like you so you're basicallyable to tap a lot of that equity
and put it to work, right?
If it's just sitting on thesidelines or dead, dead equity

(33:39):
is what I call it, dead moneysitting on your property.

SPEAKER_02 (33:42):
So now there was a lesson that I learned on that
though.
So I do want to make sure thatas people are using these
HELOCs, you do need to pay themoff.

SPEAKER_01 (33:52):
You do.

SPEAKER_02 (33:52):
So make sure that you return back to it and pay it
off with the proceeds that youhave before you take any of the
profits for yourself, right?
Because that HELOC, it is onyour personal credit, right?
It's on your personal home, it'snot on your investment homes, it
is on your personal credit.
And so it does contribute toyour debt-to-income ratio and it
does apply to your credit score.

(34:15):
So if you get too heavy in usageof your HELOC and you totally
max it out and you're leaving itthere for months at a time, just
know that it will have impact onyour credit score.
It will bounce back once you payit off, but just be aware of
that, that this is a personalline of credit.

SPEAKER_00 (34:30):
That's such a good point.
The other thing I would sayalong that line, Jenny, make
sure you guys are tracking allof your expenses.
And part of it is your line ofcredit expense.
If you're using that for flipsor for business purposes, that's
an expense to your business.
So you can still write that offand count that against your
profit.
Otherwise, Jenny's talking aboutmaking over$100,000 on this

(34:50):
deal.
If she doesn't take everyexpense she can possibly take
against this, that's just moreUncle Sam is going to take from
her at the end of the year,right?
And so you want to track as manyexpenses as you as possible.
I know that can be an issuesometimes because we have lines
of credit on all kinds ofdifferent properties, investment
properties, and all these otherthings.
And so some of them are mypersonal name.
So if I don't tell ourbookkeepers, like, hey, I use

(35:11):
this line of credit over hereand make sure you're tracking
that interest on it, I'm gonnalose that deduction.
It's gonna look like we made waymore money than we did on the
property.
So important little factorsthere with the HELOC.
So what do you do about theprocess?
I want to get back to one otherthing.
Go ahead.

SPEAKER_02 (35:26):
Yeah, I want to get back to one other thing you said
about sort of that preparation,right?
So we talked about the num likeamount of properties that I
walked and like how to run thosenumbers.
And then also about thefinancial preparation.
I remember a time I was in a asales negotiation training with
Derek Donbeck, and he it wastrying to get us on calls direct

(35:47):
to seller.
And he split us off at first andyou know, had us make calls in
small groups, and then heinvited some of us to make calls
in the middle of a group.
And I was absolutely terrified.

SPEAKER_00 (36:00):
Yeah, that's if you're not used to that muscle
being flexed.
That's gonna cause some that'sgonna cause some red face and
sweats going.

SPEAKER_02 (36:06):
Yeah, I was absolutely terrified.
And he challenged me and hesaid, Jenny, why are you so
scared?
And I sat there for a minute andthought about it, and I said,
It's because I'm afraid they'regoing to say yes.

SPEAKER_00 (36:18):
So true.

SPEAKER_02 (36:20):
And then what was I supposed to do?
Like, I once I answered thatquestion truthfully to myself, I
realized I didn't yet have likeall the network that I felt like
I needed to on my financialpreparation.
I needed to find more banks, Ineeded to find more private
lenders, I needed to get on thecalls with hard money.

(36:41):
So I knew exactly.
And contractors, like, what do Ido next?
Like, how do I make this as sofast as I can?
And yeah, once I answered thatquestion truthfully to myself,
then I spent the next, you know,few weeks filling those gaps.
And then I felt much morecomfortable.

SPEAKER_00 (36:58):
That is a gold nugget right there, guys.
Go back, rewind that two minutesand re-listen to that.
Because as you were saying that,Jenny, I was I was reflecting
while you were saying that.
And I was like, you know what?
The only time I'm hesitant tomake an offer on something is
when I don't have all my ducksin a row.
When I don't feel com when Idon't feel comfortable with
where I'm at financially orwho's gonna do the work or who's
gonna manage the property, orthere's some question out there

(37:20):
that I haven't really sat andthought through, and all of a
sudden a great opportunityprevent presents itself, and I'm
hesitant.
Right.
If I have all my ducks in a row,I'm like, yep, done, sign it.
And people, you know, thatconfidence comes through, and it
and you're gonna get betterdeals that way by having that
confidence.
So that is such a good, I mean,good lord, that needs to be
replayed multiple times for alot of people out here.

(37:40):
Because even me, I've been doingthis a decade now, and I still
like you know, you try to levelup and you try to go to that
next level.
It's like what's keeping me nowfrom doing a thousand units in
one crack, right?
The only thing keeping me fromthat is the confidence of A,
knowing how to run the numbers,where to get the money, who's
gonna manage it.
If I can solve those things, whycan't I buy a thousand units?

SPEAKER_02 (37:58):
And it makes the offers much easier, much easier.

SPEAKER_00 (38:01):
Gold nugget.
Drop the bomb right there.
There it was.

SPEAKER_01 (38:05):
I love it.

SPEAKER_02 (38:06):
Good.

SPEAKER_00 (38:06):
What what do you what do you do for financing
these days?
So you talked about now youunderstand hard money.
Are you utilizing hard money?
Have you s have you graduated toany other cheaper funds?
Like what are you doing for anydeals going forward?
Yeah.
Like what is that prep?

SPEAKER_02 (38:18):
So I always start, I always start with private money.
So I I try, so I will still usemy own money for rehabs, um, but
I try not to finance any of theyou know purchase of the
property with my own money asmuch as possible.

SPEAKER_01 (38:32):
Okay.

SPEAKER_02 (38:32):
Um so I will go private money first, uh, just
because I I like to be able togive back to our community and
the people who have earned, youknow, their status as private
money lenders.
I like to be able to do that.
Um and then I use hard money aswell.
Like I use, you know, I use bothof those concurrently, uh, just
depending on how many deals Ihave and who has what.

(38:53):
Um I am so I'm recentlyself-employed, I suppose.
Like I was working corporateuntil uh full-time corporate
until 2023.
And so this the self-employedfor the last couple of years,
you have to build a couple yearsof tax returns to be able to be

(39:14):
bankable again, right?
So so I'm really relying rightnow on that private money, hard
money, initial purchase, beingable to get in there, use as
many of their funds for rehab asI can, depending on how I
purchase the property, usingmine if I need to after that.
And then refinancing if I'mkeeping the property.
I do, I do do some BRS.

(39:35):
Most things I flip back tomarket because I'm a real estate
agent as well.
So I I flip most of myproperties back to market.
But when I do keep them, then Iwill use the DSCR route.

SPEAKER_00 (39:47):
Ah, okay, cool.
Explain just brief, again, withjargon terms for anybody who
doesn't know what DSCR is.
I know we've talked about it ina couple episodes, but yeah.

SPEAKER_02 (39:55):
So DSCR is the debt service coverage coverage ratio
loan.
Um essentially what it means isthat you are not taking your own
personal financial reality intoaccount.
It's what the property is ableto produce in terms of income
and then debt.
So are you able to get itrented?

(40:15):
Is it performing in terms ofrent?
And then what is the income ofthe property minus the expenses
and the mortgage?
And if there's a certain ratio,depending on who you're using,
you know, some of them arelooking for 1.3%, some of them
are looking for 0.7%.
Like it just depends on whatthey're looking for.
Um, but as you find, I usuallywork with brokers for those to

(40:37):
be able to get DSCR optionsbased on the property and the
income and debt associated withit.

SPEAKER_00 (40:43):
Yeah.
So just to clarify a little bitmore, what Jenny's talking about
is like if you have a property,it produces a thousand bucks a
month in rent and your uh uhpayment, taxes, insurance,
that's gonna end up being athousand bucks, you're at a one
percent debt to income ratio,right?
So sometimes to get the betterterms, they want to see 1.2.
So you'd have to bring in$1,200a month in rent on this to and

(41:06):
have a thousand dollar monthlyexpense on there.
What's interesting though isthey don't, when they do these
loans, Jenny, as far as I know,and maybe I'm wrong, I've never
used one, but from what Iunderstand is do they factor in
management costs or any capex orany of that kind of stuff, or is
it strictly looking at PITIproperty property?

SPEAKER_02 (41:24):
Yeah, it is mostly just the income and the PITI.

SPEAKER_00 (41:28):
Okay.

SPEAKER_02 (41:28):
That depends though.
So there are some local placesthat do do DSCR as well, and
they look at both the PITI aswell as the expenses for
utilities, management, etcetera.
I self-manage, uh, but manypeople, you know, will have that
management fee in there.

SPEAKER_01 (41:44):
Okay.

SPEAKER_02 (41:44):
But some of them will have management utilities,
vacancy, uh, maintenance, aswell as debt, which is the smart
way to do it, right?
I'm running my numbers that wayanyway.
Right.
I want that ratio for myexpenses plus my debt.
I'm not buying anything thatcan't cover that.

SPEAKER_00 (42:01):
So exactly.

SPEAKER_02 (42:02):
Yeah.

SPEAKER_00 (42:03):
Yeah.
Yeah.
Cool.
I just wanted to clarify thatbecause I know sometimes when I
when people are looking at howam I going to get out of this
hard money loan, for example,you get a six-month window with
most hard money lenders.
These DSCR loans are a greatoption if you're not bank, quote
unquote, bankable, as Jenny'stalking about with W-2 income.
You're a business owner oryou're self-employed for the
last, you know, you went into aself-employed thing for a year

(42:23):
or less and you don't, or you'rewriting a lot of stuff off,
right?
And you're showing that youdon't make any money,
quote-unquote, which is what Ido.

SPEAKER_02 (42:30):
Yes.
Right.

SPEAKER_00 (42:31):
Which every smart self-employed person should do,
right?
But it can catch you if you'reworking with some of the big
boys out there, right?
They don't they don't factorthat in because you got to fit
in their box for Wall Street,right?
Just for them to sell off thatloan.
So where community commercialbanks work, or a DSCR option is
a great option because they,yes, they have to look at you
and your credit score, butthey're also going to really
just look at the property andhow the property is performing.

(42:52):
And so it's a great kind ofoption.
So if you're going to use a hardmoney loan and you're thinking
of, hey, I may need to keep thisproperty, having a DSCR as your
next step, at least even ifyou're thinking I'm going to
flip it, but you get in a picklewhere the timeline is going
long, if you have that DSCRoption, kind of going back to
what you talked about earlier,Jenny, being prepped for some of
these things early on.

(43:13):
Now you can transition thatproperty over to a DSCR rent it
out, and you're out of thatexpensive hard money loan and
you're into something moremanageable for the longer term,
right?
And it's a way you can sort ofburr some of these, right?
I mean, is that what you'redoing?
Are you taking it?

SPEAKER_01 (43:26):
I guess what I do.

SPEAKER_00 (43:27):
And burring it that way, right?
Yeah.
Yeah.
So it's a great option forpeople who are quote unquote
unbankable in the in thetraditional sense.
So I love that strategy.
So for if you guys are outthere, a couple themes I'm
hearing today, Jenny, takemassive action, right?
And get prepped.
Get your money in order and beready to rock and roll for any
outcome, right?

(43:48):
Like just like in the business,you go into a partnership, it's
gonna end at some point.
So you better have thatconversation up front of what's
gonna happen when it ends.
Either one of you is gonna die,a divorce, you're gonna want to
go a different direction.

SPEAKER_02 (44:01):
Right.
You never know when life willtake you other places.

SPEAKER_00 (44:04):
Same thing when you're thinking about the money
situation.
Like you're going into it withthis intention, but you should
have some backup plans in casethings don't go exactly the way
you thought they were gonna goon the front end, and then you
can transition over intosomething else, right?
Private money.

SPEAKER_02 (44:16):
Especially if you're planning on a flip, I think.
Especially if you're planning ona flip, because you never know
what that market's gonna do,right?
I mean, even I have a flip onthe market right now, and the
ARV that I ran on it at the endof July is very different from
the ARV that I ran on it inSeptember.
You never know when these thingswill happen.
No.
So, yes, I mean, prepare formany exit strategies.

SPEAKER_00 (44:36):
Exactly.
Talk about, I want to transitionkind of last thing here as we as
we wrap.
Private money, this is a hottopic.
I think it's a great strategy.
Everybody should be out raisingprivate money.
There's a lot of roadblocks,though, for people mentally when
they think about raising privatemoney.
Talk about your philosophy, howyou've gone about it, any kind
of talk tracks or tips oranything like that when you're

(44:57):
raising private money from fromyour network.

SPEAKER_02 (45:00):
Oh, so the way that I go about raising private money
is by showing up in the room.
So it's all about relationships.
It's all about helping peopleknow who you are, know that they
can trust you, show that you'redoing the work, uh, that you are

(45:20):
invested in the industry, thatyou're invested in the people in
the industry.
And so all the people that Ihave in my private money network
right now are people who I haveinvested in getting to know.
And that's usually through theRIAs, but it might be through
maybe I met them at a RIA andthen I get to know them outside.
Maybe we're doing a project andthey're a contractor of mine, or

(45:43):
you know, however it is that Icontinue to build that
relationship over time.
Um, but I just I keep showingup.
I think that's if I'm gonnaleave one word golden nugget to
any newbies trying to do thiswork, it's just keep showing up,
right?
I didn't when I was 25 and Icould be in a very different
place in my life had I made adifferent choice then, which is

(46:05):
fine.
I mean, it is what it is.
But if you just keep showing upto the room, it's okay that you
don't understand, ask thosequestions.
Um, but that's how I raiseprivate money.
Like even the one I'm buying aduplex in a few weeks, I have
private money on that as well.
First time I'm using thisprivate lender.
Actually, there are two privatelenders on that one.
There's a first position and asecond position.

(46:26):
The second position I've nevereven met because the first
position person trusts me enoughthat he's vouching for me
somebody I don't even know.
Wow.
So that's amazing.
And and I only have that becauseI went into the room, I've spent
years there, I got to know whohe is, he knows who I am.

(46:47):
We are now a trustedrelationship, and they're
willing to then put their moneywith you.

SPEAKER_00 (46:52):
So yeah, such good and part of that to just drop
the gold on the nugget that youjust did there, I think, Jenny,
is if you're listening to thisand you think raising private
money is going to be a quick,like boom, boom, boom thing, you
might it took me probably threeor four years to gain some of
these relationships.
You might have some people inyour network, right?
Like your mom.
My mom was my first privatemoney lender.

(47:14):
It didn't take long to get herto, you know, come over and lend
with me.
Once you get outside of thatimmediate circle of people,
though, and some people aren'tcomfortable asking their parents
or you know, their immediatefamily uh if they want to get in
on some deals.
And again, I've given thisnugget a lot of times.
The way I approach private moneyis more of like a third party,
who do you know that would wantto get in on a deal with me?
Versus, do you want to get in ona deal with me?

(47:35):
It's a little bit, a little biteasier way to get into it.
Now, some people I have now,because I've been doing this
long enough, you gotta you builda reputation, you build the
trust.
It's easy to be like, hey, dude,I got a deal.
Do you want do you want to in?
This is what I'm offering.
Do you want to be a part of it?
It's it can be literally thateasy now.

SPEAKER_02 (47:51):
That's usually what it is now.
To me, right now it's just atext like, hey, I got this, I
need this, do you want to bepart of it?
So it gets to be, you know, aneasy conversation, and whoever
has the money, you know, is isfulfilling your need.

SPEAKER_00 (48:03):
Right.
And usually they're fighting toget in on it now, right?
Like it's something.

SPEAKER_02 (48:07):
I mean, that's that's my eventual goal, right?
Is to be able to on mywhiteboard right here in front
of me, it says my money makes mymoney.
And that's my that's my eventualgoal, right?
Is to be able to, you know,participate in that.
And I I do have some loans outalready in my self-directed IRA.
And you know, so I'm working myway there.
That's that's the idea, is to beable to have your money work for

(48:28):
you.
Either in properties or innotes.

SPEAKER_00 (48:32):
Yep.
And that's usually a graduation.
I see a lot of people.
They're active in real estate,and then as they if they do a
good job stewarding their theirfinances, eventually they become
the lender.

SPEAKER_01 (48:41):
That's right.

SPEAKER_00 (48:41):
And now they're just lending on deals and being very
passive in the back end, whichis a great thing to do.
But I love it.
So show up in the room.
If you're new, right, and youyou have fears about going to
these meetups, everybody does.
I will tell you this.
I'm very outgoing.
The first RIA meeting I everwent to, I was nervous as hell.
I was.
I just because it's a whole newnetwork of people, and they all
know each other and they'rechit-chatting and ha ha ha ha.

(49:04):
And you're just like this weirdperson in the corner, like, I
don't know anybody over here,right?
And that's okay.
Like the first couple times yougo, it's gonna feel weird, it's
gonna feel awkward.
You know, I think we try to do areally good job of of connecting
with new people, new faces thatwe don't know, and introducing
ourselves.
But sometimes we're not perfectat the meetups either.
We don't look at everybody, andthat's okay.
But if you just keep showing upin the room, pretty soon people

(49:25):
are gonna be like, I don't knowif I if I've ever met you
before.
What's your name?
What do you do?
Tell me about yourself, right?
Then all of a sudden they'regonna connect you to somebody,
just like Jenny's talking aboutthe private lender thing.
A connection leads to aconnection, which is gonna lead
to more connections, and prettysoon you'll feel like one of the
OGs in the room, so to speak.

SPEAKER_02 (49:40):
Uh and it doesn't take long.
No, you become an OG in the roomafter a year or two.
So it really doesn't take long.

SPEAKER_00 (49:48):
Yeah, if that.
I know there's some people thatuh it's probably been three
months and we're like, oh yeah,dude, good to see you again.
You know, and it's it's kind ofa reunion of sorts uh every
month that we get together.
It's a good time.
Chop it up with some new people.
But don't let that intimidateyou, like we're saying, if
you're brand new.
Just show up in the room andjust keep showing up.
Even if you're that likeintentional your first time,
you're just physically there.

(50:09):
You don't want to talk toanybody, you're nervous as hell.
That's okay.
No big deal, but just show upagain.
And again, and again.
And eventually you'll get morecomfortable with it.

SPEAKER_02 (50:19):
And you don't need to have a plan the first time
you walk in the room.

SPEAKER_00 (50:23):
No.

SPEAKER_02 (50:24):
What I love about those meetings is that you get
tools in your tool belt everysingle time.
Mean just small little thingsthat you're gonna write down
that you say, oh, I didn't knowthat that was a possibility.
Like even this private lendingthing we're talking about, there
was a meeting about how to be aprivate lender a few years ago
where I learned how to do it.
I didn't even know that was apossibility before.
And so that's how I learned todo it myself, as well as talk to

(50:48):
people about what to what theyshould be thinking about.
Right now I understand the toolsand I could explain the process,
make them feel a little bit morecomfortable.
I would never have known that Icould use that as one of my main
strategies unless I went to thatmeeting.

SPEAKER_00 (51:04):
Yeah, exactly.
And every time I go, I mean,I've been in this almost a
decade, Jenny.
Every time I do one of thesepodcasts, every time I go to one
of the meetups, I'm learningsomething.
There's some little nugget orsomething that sparks an idea,
even if it wasn't directlybecause of the information
somebody was getting.
I was, it'll just, I'll just goin my little entrepreneur rabbit
hole and I'll go, oh, I neverthought about maybe I could do
this or this or this.
And then boom, I've got a littlenote, and now I got my new

(51:26):
little nugget I needed.
So and you and I could probably,it sounds like we could probably
talk about the importance of ofshowing up for another hour or
two.
But we'll we'll probably I thinkwe beat that horse now pretty
good.
So we'll let we'll let peoplerelent on that a little bit.
But Jenny, we always wrap with afun question at the end because
one of the goals when I startedthis was we have people outside

(51:46):
of Wisconsin that are thinking,hey, I might want to put some
cash into Wisconsin real estate.
I don't know anything about thestate.
Tell us, do you have a favoriteWisconsin tradition or place you
like to visit here in our greatstate?

SPEAKER_02 (51:59):
My favorite Wisconsin tradition.
Now I haven't listened to allyour podcasts.
This may have been mentionedbefore, um, but I am originally
from Green Bay.
I grew up here, I you know spentmy childhood here, and my kids
are spending their childhoodhere.
And one of the things I love asa child in Green Bay is that you
can go to some of the Packerpractices in the summer and

(52:22):
bring your bike with you.
And you're not always gonna getchosen, you know, you may never
get chosen, but you raise yourhand as a Packer player is
coming out and they will takeyour bike and they will ride it.
And that you will be able towalk with them and you know,
ride with them, you know, acrossthe street, over to practice.
And it just feels like such aspecial tradition to connect

(52:47):
these professional players withthe city that supports and loves
them so much.
And it just feels really specialwhen you see those kids getting
chosen and looked about theirwhole summer.
That's one of my favorite thingsto do locally.

SPEAKER_00 (52:58):
I think that's a first.
I don't think anybody's broughtthat up.
Packers have definitely come upa lot.
Lambeau Field has come up a lot,but I don't think that specific
uh uh thing has come up.
So you might be the first one in60-some episodes, yeah.

SPEAKER_02 (53:09):
Oh, well, good.
Good.
Glad to hear it.

SPEAKER_00 (53:12):
Well, thank you guys all for tuning into another
episode.
We're gonna wrap this here.
We're gonna let Jenny get backto work because now she does
have a W2.
So we gotta get it, we gotta puther to work and help her earn
that paycheck so she can bebankable with some of these
traditional people.
But uh if you guys got somevalue out of this, please share
the episode.
We're also trying to get moreratings and reviews.
It really helps us, guys.
It helps us get up in therankings, it helps us get into

(53:33):
more people's earbuds.
So if you could do us a hugefavor if you've been listening,
you got some value, please,wherever you're listening to
this, rate it, review it.
If it's on YouTube and you'rewatching this, subscribing and
commenting on these is really,really helpful for us.
But please do that as well.
And we will continue to keepbringing you great episodes.
So I've committed to at least100 episodes.
So I'm gonna keep going until atleast we hit 100.
I might keep going beyond that.

(53:53):
But uh, but to help me getthere, I need you guys to keep
rating and reviewing the show.
So, with that, Jenny, we willlet you go and we will see all
of you guys on the next episode.