February 18, 2025 • 37 mins
Ever wondered how an everyday couple from Shawano, Wisconsin, turned their first duplex into a thriving real estate investing business? Meet Cayla and Brandon Farley, whose journey began in 2016 with a house hacking strategy, leading to a thriving investment portfolio. Listen as they recount their early days, navigating unexpected challenges like mountains of dog hair, and how these experiences laid a solid foundation for their future investments. Through a meticulous mix of leveraging HELOCs and securing creative financing, the Farleys reveal their secrets to transforming properties into lucrative assets.
In this episode, we unravel the strategies that propelled Cayla and Brandon to success, from choosing the right financial partners to mastering the art of flipping properties. Brandon sheds light on how he and Cayla divide and conquer their responsibilities, combining their skills to manage both a fence company and a real estate venture. We discuss the strategic choice between outsourcing and hands-on work, and their ambitious goal to replace their income with passive earnings from well-chosen buy-and-hold investments. Their story is a masterclass in balancing entrepreneurial ventures with personal strengths.
But the journey doesn't end there—dive into other compelling real estate tales, including Joey and Chrissy's transformation of a multi-unit property into short-term rentals. Discover the thrill of flipping a fire-damaged house and the unexpected pitfalls that come with it. We explore the growing trend of converting motels into apartments and emphasize the importance of networking in the real estate community. This episode is packed with real-life insights, valuable lessons, and the inspiration you need to fuel your own real estate ambitions.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Welcome back to another episode of the Wisconsin
Investor.
Everybody, I'm your host, coreyRaymond, and today we've got a
super awesome episode.
I'm so excited for this one.
I always love interviewingcouples and I have an awesome
couple here with me who I'llintroduce in a second.
But before I do that, I want totalk about Wisconsin Discount
Properties, who sponsors thesepodcast episodes, and tell you
about a hot deal we just hadguys.
So we just had a deal in Watosa.
(00:24):
It just got sold the other day.
But I want to talk about thisone.
There was a huge spread on itARV probably around $425,000.
Our buyer picked it up for235,000 bucks.
They're going to stick about40,000 into it.
So part of me is kicking myselffor not just buying that one
myself.
But that's why we do things theway we do at Wisconsin Discount
(00:45):
Properties because we all win.
They make money, we make money,sellers happy.
It all works out great.
So if you're looking foroff-market deals similar to that
, one that you can flip or putin your portfolio as a BRRRR or
whatever you want to do, justhead to
wisconsindiscountpropertiescom,plug your information in and
start getting access to theseoff-market deals.
We're putting two to five ofthem out every single week to
our buyers list.
(01:05):
That being said, let's get intothe episode.
Today I've got the Farley famKayla and Brandon.
How are you guys doing?
Speaker 2 (01:11):
Great, good, great.
Thanks for the invite.
Appreciate it.
Speaker 1 (01:15):
Absolutely Excited to have you guys on.
Tell the audience a little bitso they can get to know you guys
.
Speaker 2 (01:30):
Where are you located ?
What's your history with realestate?
How did you get into this thing?
Kind of, give us just a full.
Let's start there.
Give us the full backgroundhere.
Yeah, so we're located inshawnell, a little bit outside
the green bay area, where youguys are from, uh, but we have
been in real estate for quitesome time now uh, 2016, which I
hear is when you got in theregood year year to get in.
Yeah, yeah, Um, but a little bitslower than you, I think, but
we're still doing uh flips andwe got a couple of rentals, Um,
(01:52):
so that's about our experienceJust kind of still still getting
the ball rolling here for us,Awesome.
Speaker 1 (01:57):
What got you into real estate, guys?
Cause I always love thisquestion but, like Brandon Kayla
, what the heck are you guysdoing?
You're gonna have to deal withtenants and you're gonna have to
do this Right, and they startgiving you all the negative
stuff.
Did you guys experience any ofthat when you were starting?
Speaker 3 (02:31):
I think, well, we.
It wasn't like a big corporateright, we just met her and she
was awesome and we're like, ohmy gosh, we can do this.
So we picked up a couple ofbooks and we were really big
into Bigger Pockets.
In the beginning we readBrandon Turner's book, which is
amazing.
He's amazing.
Um, we actually just recentlymet him but, um, nice, so that
kind of just laid it out, I mean, and it was pretty black and
white.
So that's when we went afterour first duplex then just
(02:53):
across town.
So awesome.
Speaker 1 (02:54):
Did you guys live in it?
Did you house hack it or was ita straight rental right from
the start?
Speaker 2 (02:58):
Yup House hack all the way Nice.
Speaker 3 (03:01):
Yeah, there was about three feet of dog hair
everywhere come on a paththrough it.
Oh yeah, definitely some.
Uh, some tlc needed in thatthing.
What?
Speaker 1 (03:12):
like I've been in hoarder houses but never a dog
fur hoarder house, that's ohyeah yeah, he wasn't letting it
go.
Speaker 2 (03:19):
I don't, I don't get it insulation or something along
with a mouse mouse uhinfestation, I'm sure right with
that right?
Speaker 1 (03:28):
oh my goodness.
So what did you guys have to doto clean that out?
Because you know pet smells ingeneral can be a a bit of a
problem.
Was it pretty smelly with thehair or was it just straight
like trying to get all?
Speaker 2 (03:38):
the hair on.
No, thankfully no.
No urine smells or anythinglike that, just a lot of hair.
So we got the place cleaned outand really didn't have to
replace any sub floors, but weplan on doing all the flooring
already.
Speaker 3 (03:50):
Okay, clean sweep and stuff, yeah.
Speaker 1 (03:53):
Painting carpet, that kind of stuff, yeah nice, and
do you guys still have thisduplex?
Speaker 3 (03:58):
yes, best property oh yeah, it has come through for
us so many times.
It's amazing.
Speaker 1 (04:05):
Tell me more about this.
Why is this the best one thatyou guys own?
Speaker 2 (04:08):
We bought it in 2016.
So we got a great price on itand then obviously you know,
everything came up in pricesince then.
So it's about double what itwhat we bought it for.
Yeah, that helps.
Speaker 3 (04:21):
And HELOC.
So HELOC has just been, it'sjust been awesome.
Speaker 1 (04:26):
So you guys know me and my HELOCs.
I love it, did you guys?
How did you finance itoriginally?
Was this the 5% down programback then, or what was this?
What was the story then?
Speaker 2 (04:37):
Yes, 5% down.
Um, I think it was actuallyless than that.
Was that three and a half?
Speaker 3 (04:41):
Yeah, we ended up actually doing 5% down, but then
they actually took out like asecond mortgage to help with
that as well, Cause we were, youknow, young and broke and no
money at all and um, but we gotit and we added some value to it
and um ended up refinancing itout of that second mortgage, I
believe, Um, and so we've justheld onto that mortgage then
(05:04):
thereafter.
Speaker 1 (05:04):
So the original first position mortgage Okay, cool.
And the HELOC thing.
How did you guys get the HELOC?
Did you find a lender thatwould lend on this property but
not be in first position?
Speaker 3 (05:16):
Yes, yeah, yeah.
Speaker 1 (05:18):
Can you guys share who that is, or do you?
Speaker 3 (05:19):
know, oh yeah, nicolet national bank here in
Wisconsin.
Speaker 1 (05:22):
Really.
Speaker 3 (05:23):
Absolutely.
Nicolet National Bank here inWisconsin Really Absolutely
awesome.
Yep, we actually work with NickChaudry, so I don't know if
we're allowed to plug even aname in there, but he's awesome
and he's even you know, hey,this is kind of like how some of
these other guys have this kindof laid out.
You know, what does that soundlike to you?
Or you know, kind of goes overour goals and structure wise for
loans, and it's just been areally awesome working with them
(05:43):
, yeah.
Speaker 1 (05:43):
Oh, that is so cool, cause I've never really had a
lot of luck with them oninvestment properties.
But I didn't know that theywould do a second position.
Heloc, if they don't have thefirst, so they do not have the
first.
Let me just confirm that.
Speaker 3 (05:55):
Correct, yeah, correct.
Speaker 1 (05:57):
Oh wow, all right, there's your nugget.
All right, guys, we can wrap.
This has been a great episode.
No, that's a big nugget.
There's only a handful of banksI've ever heard of that will go
second position HELOC on aproperty and investment property
that they don't have the firstposition on there.
So for the audience that'slistening, if you're new to
(06:17):
investing or you're not at thepoint where you even can think
about getting a HELOC yetbecause you don't have the
equity or whatever the case is,typically a bank is only going
to give you a HELOC if they havethe first position loan.
So meaning you go to thecommunity bank, they lend you
the money, you buy it, you fixup whatever and you go back to
them once you have some equityand you say, hey, I want to pull
some of that out and use it fordown payments or rehab or other
(06:39):
cases.
Typically, if you go to anotherinstitution that's not doesn't
have that first thing, they'regoing to say, oh great, we'll do
it, but we want the whole firstposition loan.
So this is a huge nugget thatkaylin brand are sharing with
you guys right now.
Speaker 2 (06:53):
so I'm definitely going to write that down and
yeah no, we do have other loansfor other properties through
that bank.
So I think you look at it asthey still have leverage there.
Speaker 3 (07:05):
Well, our whole business, though, too.
I mean all of our businessaccounts and stuff like that for
the company.
I mean it's all there.
Speaker 1 (07:10):
So the relationship is strong with those guys.
Speaker 3 (07:13):
It's not just a one-off type of product.
Speaker 1 (07:14):
Yeah, that's.
Another important part withcommunity banks is they're a lot
of times more relationshipheavy versus Fannie Mae, freddie
Mac.
You heavy versus you know,fannie Mae, freddie Mac, your 5%
down loan that you're going totalk about.
They don't know who you are,you're just a number in their
system.
Community banks are going to.
The relationships can go a longway and getting some lending.
Speaker 3 (07:31):
Oh, yeah, for sure I mean yeah, I can go on and on,
but yeah, yes, yes, talk aboutlike.
Speaker 1 (07:36):
so you, you guys, are mostly into flips now, or you
said you guys, earlier we weretalking.
You have a couple of BRRRRs inaddition to that happening.
What's the business strategy?
What's the big goal for youguys?
Speaker 2 (07:47):
Yeah, I think right now we're really looking at
building our base.
Speaker 3 (08:07):
We're trying to get a base of rental properties,
mainly through BRRRR, just tokeep us held up and make sure
that if we do make some riskymoves or we want to take some
steps here going, some stepshere going forward, that we do
have that base to fall back on.
So cash them in later.
I mean whatever you know.
More HELOC loans.
Speaker 2 (08:14):
I mean whatever Right I mean we just don't want to
bite off more than what we canchew.
And yeah, yeah, using theHELOCs has been huge for us.
Yeah, making our own bank there.
Speaker 1 (08:22):
What are you guys using your HELOCs for?
Cause bank there.
What are you guys using yourHELOCs for?
Because I use mine, maybedifferently than you, but I'm
curious for the audience how areyou guys finding this?
It's such a great tool and howare you finding it coming into
play for what you guys are doing?
Speaker 3 (08:34):
So right now, we currently are using them for
rehab.
So instead of taking hard moneyto pay for the house and rehab
in order to obviously save somemoney there, we're just using
hard money to purchase theproperty and then we're using
our HELOC zone for therenovations.
Speaker 1 (08:50):
Very cool.
Yeah, that definitely saves alot of money.
Those darn loan sharks outthere.
They're making their money onthose hard money loans, but yeah
.
Speaker 3 (08:57):
I wish I met earlier is all I have to say.
Speaker 1 (09:00):
Yeah, yeah, so you guys are primarily.
When you're doing the flips orthe burrs, you're going hard
money HELOC on all of them.
Speaker 3 (09:08):
If we can?
Yeah, I mean until we haveenough HELOC right and then we
don't need the hard money.
Speaker 1 (09:11):
but yeah, sure, yeah, no, that's great.
And so everybody listening tothis, that's another good nugget
.
You might want to go back andrelisten to that if that's kind
of foreign to you.
But a hard money lendertypically they're going to be
higher interest, higher pointsright, then a community bank
would be but they can closequick.
They're typically, again,relationship based and they're
going to potentially give yourehab money along with it.
(09:32):
But, like what Kayla justmentioned, you don't have to use
them.
You save quite a bit ofinterest and you can be more
competitive on your offers.
You can increase your spreads,all those kinds of things.
So that's fantastic.
Have you guys talked to Nicoletor any other community banks
about trying to replace thathard money lender now that
you've got some HELOC cash andjust work with them on these
flip loans or any of that, tobring the cost of capital down
(09:52):
even further?
Speaker 3 (09:54):
Being honest, I don't recall.
I feel like I've had thisconversation with them, but the
situation we were in before thetimeline wasn't going to work
out because they still need thatstandard 45 plus days to close
and so it's definitely now thatyou say that I might want to
revisit that.
They very much might do that orlike their own form of, like a
construction loan.
You know, however, they want tocategorize that, but I'm not
(10:17):
sure right now.
Speaker 1 (10:17):
Okay, yeah, that's something we I usually recommend
to people.
Once you can kind of get offthe hard money piece and get you
know, you got a little bit of a, you know, you got a track
record.
Now you guys have been in theindustry since 2016.
You guys have enough there thatyou could go talk to a bunch of
community banks and figure outwho's going to be the best
option for you guys for eachdeal.
Kind of use them like a littlechess pieces.
(10:37):
Sometimes, right Is what I dois like all right, who's got the
best rate?
Sometimes, if I'm doing a flip,I don't really care what the
rate is, as much as like whatare all their loan fees going to
be?
Right, because that is going tomake more of a difference than
just half a percent different oninterest rate cares in a six
month loan.
Right, it's like you're goingto hit me with a $2,000 loan fee
.
Well, this other guy's onlycharging me 500 for that.
(10:59):
I'm going to get this duderight.
Speaker 3 (11:01):
Yeah, the little things are like little pet
peeves to me, where everyone'slike oh okay, so the loan is
this much, and then the rehab isthat, so then there's your
profit.
I'm like no, no, no, no.
You're not factoring in thepoints, the closing costs, the
holding costs, like all thoselittle things that end up taking
a lot more than you think itdoes.
Speaker 1 (11:20):
Yeah, Did you guys have an experience where, like
you, you found out the hard wayall this stuff you're budgeting
one way and then all of a suddenyou looked at it and you were
like, oh, I didn't realize therewas going to be.
Speaker 2 (11:30):
She's all over it.
You got a good wife on yourside.
You're golden.
You don't got to worry.
Speaker 1 (11:38):
How do you guys divvy things up, like Brandon?
You just mentioned somethingand this is one of the reasons I
love interviewing couples,because usually couples, I find,
are some of the most successfulreal estate investors.
One of you has a strong suit inone area.
The other person is strong inanother area.
Speaker 2 (11:55):
Like, did you guys ever have a sit down and divvy
this up?
Did it happen?
Naturally, like, how did thisall come to be?
Yeah, I mean, we also run afence company in Charlotte
called Frontline Fence, so wekind of follow that same dynamic
.
I'm in the field, I haveconstruction background and she
handles all the customerrelations, all the financing,
all the bank relationships.
So it's kind of the same rightin real estate where she figures
(12:19):
out all the loan information,she figures all the financing
out, and then she basically saysthis is what I want it to look
like and I go out and do it.
So very easy transition, yeah.
Speaker 1 (12:30):
The honey.
Here's your honeydew list.
Go, make it look like this.
I got the rest of it, don'tworry about it, baby right, and
you don't want me picking colorsand stuff I'm right there with
you, brandon, I'm, I'm, I'm thekayla of the relationship,
though I just, I just pushpapers and then my wife is like
here's the design I want.
And then I'm not the guy she'sgiving that to.
That, that's some contractor.
(12:51):
You don't want me doing anyhandy work.
I'm going to get fired in asecond.
So are you in actually swinginghammers, brandon?
Are you outsourcing the rehab,or how have you found success on
the flips and the rentals thatyou're rehabbing?
Speaker 2 (13:07):
It really depends on the project and how big it is
and the spread.
So if if there's not a ton ofspread in it, I will probably do
a little bit more.
Uh, if it's not the entirething it's, it's doing the prep
work for the contractor.
So like we need to rip out somefloor and cabinets and some of
that stuff, I'll go in and clearall that out to save contractor
(13:29):
time.
But ideally we get where we canhave the contractors just go in
, do all of the work and then wecan sit back and manage and
look for more.
Speaker 1 (13:43):
Yeah, yeah, you guys, if you listen to the podcast
you've heard me say this 100times Highest and best use, I
think, is finding deals andfinding money, not typically in
swinging hammers, but you got todo what you got to do,
especially if you're juststarting out.
Sometimes you got to get inthere and swing the hammer to
start building up that kitty alittle bit, right, so you've got
some capital to use goingforward.
So it just depends on, probably, the evolution of where you're
(14:04):
at in your real estate investingjourney a little bit.
So for you guys going forward,what does the goal look like?
Like you guys mentioned alittle bit building a base, but
there wasn't anything specific.
You guys have a specific targetof like we want X amount of
flips a year, x amount ofrentals a year?
um uh, x amount of doors by somany years.
Or are you guys just kind ofjust doing the do and taking
(14:25):
them as they come?
Speaker 3 (14:27):
Um, I think right now it's not so many.
Um, I think right now it's notso many.
So much like the doors oramount of rental properties.
It's more just the incomereplaced, right, Because we
could very easily get that withone giant purchase versus 10
smaller homes that we hold on asrentals, right?
So we're just trying to aim fora replacement of income, right?
(14:48):
So whatever that kind of lookslike, Nice.
Obviously the passive right.
That's the goal here.
So buy and holds are toppriority.
Cash is nice, but we do haveour you know our company that
we're running as well, so that'skind of our bread and butter
right now, you know, paying allof our typical expenses, but
anything that we can hold ontofor long-term is going to be the
(15:09):
goal right now.
I'm really excited.
I just actually I just watchedone of your podcasts with a
couple of their.
Their name is not in my brainright now, but they were the
couple in door County that hadpurchased like an eight or a
nine unit and they had turned itinto a short-term rental.
Speaker 1 (15:26):
Okay.
Speaker 3 (15:27):
Very, very interesting oh.
Speaker 1 (15:28):
Joey and Chrissy.
Yeah, yeah, I'll go on my yep.
Speaker 3 (15:31):
Yeah, yep, yep, yep, yep.
So just hearing them and thisis a kind of a thought in my
brain, you know, for the lastseveral months and hearing them
talk about it, I was like, ha ha, like you know, like they've
done, it like let's go you know,yeah, and I love hearing that
and seeing that because if it'sdone once it's, you know it's
done once, it's justduplicatable.
So I'm very pumped to get abigger purchase like that here,
(15:51):
probably this year.
Speaker 1 (15:52):
Oh, that's cool, that's exciting stuff.
Yeah, we also had anotherinteresting one of somebody who
bought a motel here in FishCreek One of the early episodes
here and it was just a mom andpop.
They ran it as the classicinnkeeper you show up, you check
in with somebody behind a desktype of thing, and they bought
it.
They had to do a ton of work toit but made it all
technology-based and soeverybody's remote checking now
(16:15):
and they just show up, theypunch their code in, they go in,
there's nobody there in keepinganymore and they just jacked
the NOI on this thing like crazyand I can't imagine how much
equity they got in this suckernow.
Speaker 2 (16:26):
So, yeah, that's wonderful.
Yeah, I think that's that's,that's her goal yeah awesome.
That's stars in her eyes everytime she sees a hotel or
something up for sale.
Speaker 3 (16:34):
Yeah, yeah, absolutely, motel like come on,
let's go.
Speaker 1 (16:37):
I like it seems like it's becoming more and more of a
thing.
Like you know, listening tobrandon turner, I remember when
I was listening to biggerpockets back in 2016, 17, maybe
18, I don't remember when it wasbut he started getting really
big into the mobile home thingand the mobile home parks and
and then it was storage unitswhere, like, everybody was going
after storage complexes andstuff and now I don't know, but
I don't follow the campgroundthing as much anymore, the uh
(16:58):
mobile home thing as muchanymore.
Campgrounds that was anotherbig thing, but uh, the storage
seems like that's cooled off alittle bit.
The returns aren't great.
It's tough to find a value-adddeal a lot tougher nowadays.
Same with multi-families beentougher to find these days.
But it seems like I'm seeingmore and more people do these
motel conversions either intoapartments they're converting
them straight up to apartmentsor into short-term rentals.
Speaker 3 (17:19):
So that's great like a rent by the room kind of deal
too yeah yeah, yeah.
Speaker 1 (17:23):
So it's kind of cool.
We had an opportunity a fewyears ago with one in algoma and
I'm kicking myself that wedidn't just close on it.
It was 40 units, it was rightby the water and I saw the guy
relisted it like a couple ofyears later for like 500 grand
more than what we could havebought it for.
So I don't know.
Yeah, it's one of those things.
It's a deal that I sit andthink about from time to time
(17:44):
and we've had those.
Speaker 2 (17:47):
Yeah, yeah.
Speaker 1 (17:48):
You're like, oh, I could have been me.
Yeah, yeah, what is what hasbeen the biggest struggle for
you guys in real estate?
Is there a particular dealthat's been the biggest
challenge that you guys canshare?
Has it been just some type oftrying to figure a certain thing
out, like what's been thebiggest challenge for you guys
so far?
And maybe each of you couldanswer individually, if you each
are like, hey, this is what iswhat I'm thinking and you got
(18:09):
something different.
Speaker 3 (18:09):
but I think, honestly , it's getting out of our own
way.
Like number one, I oh yeah,you've got a great interview,
cause we were talking about thisthe other day, didn't we?
But I think, just getting outof our own way, like again, we
purchased the duplex back, youknow way back 2016 or 17,
whatever it was, and, you know,it just kind of cooled off from
there because it was likeanalysis, paralysis.
(18:31):
It was just like, oh, we don'tknow enough.
Well, we don't know enough.
Well, we don't know enough.
And it's like you do it, youget out of your own way and you
just do it and you're like,really Like I could have been
doing this for how long I couldhave taken advantage of the
COVID market.
You're like, oh, you know, yeah, along those lines.
Speaker 2 (18:51):
Like we said, we started in 2016.
It was a great market back thenand we're consuming all this
knowledge, consuming all thiseducation, and one of the big
things that they told us was goto the REI't do.
Okay, and we just went nowhere.
We were stuck with thisknowledge.
(19:16):
We have to get 20% down.
We had no idea what our moneywas.
We didn't know where to get thecash for the next deals.
Okay, so we just sat like well,we need to come up with more
capital to buy more properties.
Speaker 3 (19:30):
In comes the fence company, insert company.
We were on.
Speaker 2 (19:33):
So we figured we have an opportunity to start more
properties.
In comes the fence company,insert company we run, so we
figured we have an opportunityto start this company.
This will be a capitalgenerator to allow us to buy
more properties and in turn justbecoming more busy.
So that more or less just tookup all of our time, and now
we're so swamped with everythingelse that we can't even think
about buying more properties.
Speaker 3 (19:54):
Go after the actual goal here.
Yeah, right.
Speaker 2 (19:57):
So we purchased um education just a couple years
ago and one of the first thingshe says is go to your rei
meetups, go and meet yournetwork, you know form, you know
this network of people aroundyou so that they, they give you
advice.
And and that's when I came tothe rei success group and it was
immediate, yeah, I met, metpeople, learned everything that
(20:21):
I was missing, and it all justkind of now.
So now in the last year or so,everything is just skyrocketing
oh that's fantastic, like,fantastic.
Like I said, we have two BRRRRproperties we're working on now,
whereas a couple of years agothat was unfathomable.
That's so awesome.
Speaker 1 (20:38):
I love that.
I remember that's how we metBrandon.
Weren't we messaging back andforth?
Just met through one of theFacebook groups and then I was
just asking you a little bitabout what you do and then I
think I called you because I wasdriving to the RAS success
meeting.
I remember that night.
And to the RAS success meeting.
I remember that night and I waslike dude, why don't you come
out?
And you're like I live inchannel.
But yeah, what the heck?
I'm like oh, this dude'sserious about real estate.
(21:01):
Like he's going to just dropwhat he was doing at like four
in the afternoon and be there bysix.
This guy wants to buy some realestate man.
Speaker 2 (21:06):
Yeah, and that was my first meeting.
That was fantastic.
Speaker 1 (21:15):
Oh, that's awesome dude, that's awesome Well.
Speaker 2 (21:16):
I'm glad we could get you in there.
It didn't take much armtwisting to get you there, it
just took a little invite.
Speaker 1 (21:21):
I was hungry, I was ready.
Yeah, you were on your way,that's right, just needed
somebody to invite you.
So anybody listening come tothe REI Success Meetings fourth
Tuesday of every month, greenBay.
Shameless plug, but not really,because Brandon just told you
how much it changed his business.
Speaker 3 (21:31):
No, for real and I've never met a community like it.
I don't even go that often andBrandon's really the one that
goes, but we're running a newcompany.
We've been in obviouslydifferent industries and the
corporate up in the biggercities near us and there is no
community like the real estatecommunity that you find.
I mean talk about people trulybending over backwards to help
(21:52):
you or give you advice orliterally anything.
It's, it's amazing and we'rethe same way you know.
Speaker 1 (21:59):
Yeah, you know what I think is interesting, as you
were saying that here, thethought that came my head is yes
, the group is awesome.
However, you have to engage thegroup too.
You can't just show up in ameeting and just sit there and
be, you know, in the back of theroom not talking to anybody.
You're not asking questions,Like the thing that you guys do
really well at networking is youcome in with thoughts,
(22:20):
questions, intentions, things.
You need to get relationships,you need to get things.
You can give the.
You know you guys are alwaysthere too to give if you can.
Right, and I think that's whyyou guys benefit so much from
networking events.
So I've seen it the other way.
Where people come, they comeone time they don't engage with
anybody, they're gone rightafter we wrap, they're not
(22:40):
sitting around networking andthen they never come back and I
just I feel like sad for some ofthose people because I'm like
gosh, you were so close, Likeyou've got the door.
It's like going to the gym andnever, never hitting the
equipment.
Speaker 3 (22:51):
Don't even see the dumbbell rack.
What do you?
Speaker 1 (22:52):
got there, you got there.
You put your tennies on.
You just never went and pushed,pushed any weights, dang it.
You were so close, right.
Speaker 2 (23:00):
And so all it takes is dip your toe, go out on a
limb, talk to somebody you knowbe the first one to approach
somebody else, and you're nevergoing to regret that, regret
that that's right, that's right.
Speaker 1 (23:10):
And I think what's what's really cool is like the
group is so good but like justput your like you said Brandon,
put yourself out there and it'snot comfortable, not not many
people, like walking in a roomof 50 people and not knowing a
soul and then going like uh hi,you know, but you just start
talking to people, you ask themabout their business.
Just you ask them like what,how long have they been in it?
You know some basic questionsto get the conversation started
and have some idea of maybesomebody who you need to meet
(23:32):
there, like a lender or acontractor or something, and
you'll find like that's all youneed and just asking a few
questions to some people andthey'll everybody's happy to
introduce you to somebody else.
So at least in the NortheastWisconsin, you know, I know
there's some other networkinggroups I've heard of that aren't
so open, maybe in some otherparts of the state, but for the
(23:55):
most part a lot of the communityaround here is pretty open to
helping people succeed.
So now that's great, greatnugget.
Kayla, you were talking aboutyour struggle.
What was the struggle?
Again, I want to go back tothat because there was a thought
I had.
What was your biggest struggle?
I got off on brands there.
Speaker 3 (24:07):
Getting out of your own way.
I think again the analysisparalysis, where you just think
that it's you're missingsomething.
You think that there's justsomething in it that you're
missing and you're not going todo right, and that you just have
to have all of the answers andall of the ducks in the row
before you even get started andit's just, it's not like that,
it's like don't get wrong, doyour research Like I'm not
(24:28):
sitting here, just like blindlygo forward, but at some point in
time you just have to pull thetrigger, you know.
Speaker 1 (24:35):
You and I were just talking about that before we hit
record with I was just at acharity hunting thing down in
Texas with a guy who's beendoing seller finance and
creative finance and you know,selling seller finance notes to
the secondary market and allthese other things that are like
way out of my head right now,and I think you said that to me.
It's like, well, you just gotto do one and I'm like, dang it,
she's right, I just got to stopgetting in my own damn way and
(24:59):
go do one.
That's true, and then I'll belike that'll be an episode in a
couple months of me talkingabout how great these things are
, I'm sure.
So, anyway, no, that's awesome.
What has been the biggestsuccess for you guys besides
that duplex, and what were thethings that made it so
successful?
So we know why some of themarket conditions for you guys
helped with the duplex, but talkabout maybe another deal that
(25:22):
you guys have done.
That's like, man, this was aslam dunk and everything went
right.
Here's what happened and here'swhy it was such a success.
Speaker 2 (25:30):
I think it's probably the house we're sitting in
right now.
Yeah, last year we flipped thishouse that we're in right now.
We got a.
It was a firehouse, okay, had afire in it.
The homeowner got paid out byinsurance, so we got it dirt
cheap, needed a ton of work.
It was a huge mess, but itreally taught us a lot.
(25:52):
I mean, we got a great group ofcontractors out of it and
really our first big flip, Imean we stuck 120,000 into this,
wow.
So it was a lot of work and alot of making sure that
everybody's coordinated and thateverything goes right, and we
(26:13):
did our first hard money loan Umright, yeah.
Speaker 1 (26:18):
Yeah, okay, make sure I'm getting got to check with
the person who did it.
Speaker 2 (26:23):
Yeah, so we got the hard money through good faith.
So that was our first timeworking with those guys Great,
great bunch of guys there and,yeah, everything just really
fell into place.
Speaker 3 (26:36):
Well, and the best part about it is you know, five
bedroom, three bath, the thing'shuge right.
This isn't some small littlelike right.
Speaker 1 (26:43):
It's a little two bedroom bungalow here.
Speaker 3 (26:45):
Right, Exactly, and shout out to Preston.
I'm sure you know everybodyaround here knows who Preston is
, but I got to say a shout outto him because he was just
awesome with helping us out asfar as walking it and just
giving us confidence and again,that community that you find in
those relationships that youbuild.
But we had an ARV for thisthing at like what 220?
Speaker 2 (27:05):
235.
Speaker 3 (27:06):
235?
.
Speaker 2 (27:07):
Yeah, originally.
Speaker 3 (27:08):
Yeah, and it ended up appraising for 300.
Speaker 1 (27:11):
Oh what.
Speaker 3 (27:12):
Yeah, and it ended up appraising for 300.
Speaker 1 (27:14):
Oh what yeah?
What happened?
Was it just like because youguys did such a great job in the
market, you know the timing?
Or were you just so off oncomps at the start, super
conservative, or what happened?
Speaker 3 (27:22):
There really weren't a lot of comps to go off of,
honestly.
So that was I mean, it was likea nail biter Cause.
We're like we're going to getscrewed over here, like there
are no good comps.
And the appraiser like shewalked around and, you know, she
complimented me on like thedesign of everything and I asked
, I mean, I like it was my firsttime, right, so I'm like asking
all the questions like whatwould you do differently?
(27:43):
Like what are your thoughts onthis?
You know, and and she's like,honestly, she's like I wouldn't
change a single thing.
This is something.
Yeah, like this is something.
Oh, yeah, you're like, oh,praise the lord, yeah, I was
like okay, but that's, that'ssuch a great feeling of knowing
like I didn't screw something up, you know so for sure you can
tell when you're walking with anappraiser.
Speaker 1 (28:02):
If you guys have never done this before audience,
when you do a refi or somethinglike that, go with the
appraiser and do exactly thecase I was talking about, like
ask them every question.
You possibly you're paying forit.
You might as well ask themright and then you could tell
You're paying for it.
You might as well ask them andthen you could tell if they're
digging it.
You're like oh yeah, it's goingto be sweet, yeah.
Speaker 2 (28:20):
That's awesome.
It almost didn't happen becausewe actually tried to wholesale
this property first before weflipped it and we've learned
some.
We took the most horriblepictures and tried to shop it
and it just scared everybodyaway, yeah.
Speaker 1 (28:38):
Firehouses.
I'll tell you, as a wholesaler,they are tough to sell.
Speaker 3 (28:41):
So now, if I get a firehouse.
Speaker 1 (28:43):
I know who to go to.
Speaker 3 (28:45):
Yeah, for sure.
Speaker 1 (28:46):
Random firehouse people.
Right, that's it.
What were some of the biggestchallenges with a firehouse?
Because I immediately gostructure problem, oh right.
Speaker 3 (28:55):
The deck.
Speaker 2 (28:57):
Oh yeah, unexpected things, okay, things completely
unrelated to the fire, okay,well, cause, when you, you know
that's a good point you know,when you walk in, that's all
you're staring at, you'relooking at that fire damage and
you know, okay, how's it goingto go and how are we going to do
it.
And then you, you tend to missother things.
So, you know, try to that'd bemy, my big advice.
(29:20):
There is try not to focus onthe fire.
Um, as much as you think.
Okay, so we got lucky where itwas about a 10 by 10 area that
actually got affected by thefire.
Um, so're exactly right.
Structurally we had a lot ofwork, okay, so we had to do an
entire roof in one section ofthe house and then some pretty
(29:41):
good, uh, structural work and inwhere it connected and kind of
where the fire was.
Speaker 1 (29:47):
So did you guys have to replace the trusses or like
what.
What was the the extent of theroof?
Speaker 2 (29:52):
Yeah, we, we did now not in every case.
You wouldn't have to.
They were pretty scorched, sowe just figured just get it out
of there and get the smoke smellout.
Speaker 3 (30:02):
I think a big part of firehouses, though, is this
again, like what Brandon issaying is it's not always just
where it's been burned.
It's when the fire departmentcomes in here and sprays
everything from head to toe inwater and now, when that's
through the walls, your drywallis shot.
So you might as well just planfor ripping everything down to
the studs.
It might not be burned, itmight not even have soot on it,
(30:23):
but I can guarantee you you havewater damage.
So that was like a big factorfor us where, okay, yeah, sure.
Factor for us where, okay, yeah, sure, it's just this little 10
by 10.
It went all the way up to thesecond story, right.
So I mean again, big structuralissues there.
Yeah, that we had all fixed upand actually was like kind of
good because we ended up beingable to change the layout, but
the amount of water damage andmold that you find from now in
(30:46):
our situation, this sat for awhile, right.
So there was a lot of oldremedies that we had to do,
taking down all of the drywall,you know.
So it's like I'm happy, becausethen there's no like creepy
molds anywhere right, yeah, youget to sniff it, you get a fresh
start.
Right right, you have to makesure that it's good to go, but
that was definitely unforeseenon that extent.
Speaker 2 (31:07):
I think there was more water damage than fire
damage.
Speaker 3 (31:09):
Right, yeah, that's my point, yeah damage and then
fire damage.
Speaker 1 (31:14):
Right, that's my point.
Yeah, wow, that's so cool.
Now, I've seen it before andmaybe you guys aren't experts in
this, but I'm going to ask youanyway, we've had houses I
actually had one that nobodywanted to buy on the buyer's
list so I bought it, cleaned it,put some new flooring in and
listed it, but it had some firedamage in the attic.
Now the roof had been redonesince that was done and I was
being told like well, it'sprobably fine or they would have
replaced it.
But like, how do you know thatwhen you're looking at this,
(31:37):
like when you guys wereevaluating this, how did you
know like, yeah, we got toreplace those trusses?
Like did you have somebody comein and do that?
Was that just a judgment callthat you guys made?
Like if somebody's looking atone that's had some like fire
damage, genetic or you know, uh,to the trusses, like how do you
know what's salvageable and isfine?
You don't have to mess with it?
And when do you got to re roofand replace?
Speaker 2 (31:57):
Yeah, for us it was just a judgment call and it was
pretty apparent.
I mean, everything was prettyscorched and what we did was we.
When we opened everything up,we looked at the plywood
underneath the roof and it wasall black.
So we just figured there was nocoming back from that.
I know John Vander Heiden.
He does great work withfirehouses, so he would be
(32:19):
willing to come out and take alook if anybody's got any
questions.
Speaker 1 (32:22):
Okay, what is John Vander Heiden?
Is he an inspector, or what ishe?
Speaker 2 (32:26):
No, he's a contractor that just focuses on fire
damage.
Speaker 1 (32:31):
Oh cool.
Is he the guy that you guysworked with to do some of this
stuff?
Speaker 2 (32:34):
No, not this particular one.
Okay, but no, like I said, itwas just very apparent to us
that that had to go, okayProcess and that were pretty
scored.
So that was just the easiestsolution instead of trying to
everything out.
Speaker 3 (32:50):
I mean, if it was in a situation where we didn't know
I personally would not want tohave that on my conscience of
deciding whether or notsomething should be replaced I
would personally bring in, youknow, a local building inspector
.
You know, I mean, I knoweverybody doesn't really want to
go that route, but at the sametime it's like if a family is
going to be moving in here like,you kind of just need to do the
(33:11):
right thing and just get itlooked at by a professional for
sure well, if they get aninspection, you're going to be
busted anyway, right?
Speaker 1 (33:17):
so it's like you might as well get it done right
away and do it right there wasno hiding the fact that we can't
hide that stuff there's nohiding that stuff for sure.
No, that's great.
Well, this is awesome, guys, Imean, I'm taking, I got a page
of notes here already uh, on alot of things we talked about.
I'm sure, like we talked aboutbefore this, we could probably
just keep going for another hour, hour and a half on here, but I
know you guys got kids that yougot to deal with and all that
(33:39):
stuff, so we'll get you out ofhere.
Before we do that, though, Ialways ask a question at the end
.
Again, we're we, we loveWisconsin and we love investing,
and hence that's why we havethis podcast.
But we know there's people thatlisten to this that aren't in
Wisconsin, but they want toinvest here, so we got to tell
them a little bit aboutWisconsin, right, like?
So, with that, do you guys havea favorite place you like to
(33:59):
visit here in Wisconsin or afavorite tradition?
So if some of those folks comehere, they can just assimilate
right in.
You go first.
Speaker 3 (34:09):
Location, so for visiting.
Speaker 1 (34:15):
I'm a big sucker for devil's lake.
I've had that one other time, Ithink love devil's lake.
Yeah, all right, I got to getdown there Apparently.
It keeps coming up.
Speaker 2 (34:22):
And for people that aren't in Wisconsin.
You got to hit Von Steelewinery in Algoma and Bay beach,
oh yeah.
Speaker 1 (34:37):
Those are gems in Wisconsin, that's true.
Yeah, it's pretty fun.
Yeah, if you haven't been tobay beach and green bay, it's
very unique.
Speaker 3 (34:40):
I mean, you give like what some of these rides are,
like a quarter yeah, literallyten dollars all day long, and
they are just like the kind ofold school rides and you feel
like you're an old carny yeah,even if you don't got kids just
go, I mean they all have theirteeth.
They're nice high carny, yeah,even if you don't got kids, just
go.
Speaker 2 (34:53):
I mean they all have their teeth.
Speaker 3 (34:54):
They're nice high school kids, so I mean you know,
yeah, yeah for sure for sure,awesome guys.
Speaker 1 (34:59):
Well, if anybody wants to get a hold of you guys,
or or if anybody's looking forfencing options too, and uh, do
you guys service a certain areafor the fence company?
Is it just the shano area?
Are you anywhere northeastwisconsin?
What does that look like?
Speaker 2 (35:11):
yeah, pretty much anywhere.
Uh, our drive from shawnell, sowe do northeast wisconsin as a
whole, okay, so, yeah, if youwant to get a hold of us, it's
go frontline fencecom.
Okay, you'll find us there.
Speaker 3 (35:23):
Otherwise, uh, for house stuff and real estate
stuff.
I mean probably facebook.
I mean there's a lot of stuffgoing on on facebook with that,
that sort of thing.
Not much Instagram, but I likedoing my cute little videos on
Instagram just keeping everybodyupdated.
But um, like Facebook yeah.
Speaker 1 (35:38):
Cool, awesome guys.
Well, thanks again for being onhere.
Thank you all for listening toanother episode of the Wisconsin
investor podcast.
We'll see you on the nextepisode.
Welcome back to another episode of the Wisconsin
Investor.
Everybody, I'm your host, coreyRaymond, and today we've got a
super awesome episode.
I'm so excited for this one.
I always love interviewingcouples and I have an awesome
couple here with me who I'llintroduce in a second.
But before I do that, I want totalk about Wisconsin Discount
Properties, who sponsors thesepodcast episodes, and tell you
about a hot deal we just hadguys.
So we just had a deal in Watosa.
(00:24):
It just got sold the other day.
But I want to talk about thisone.
There was a huge spread on itARV probably around $425,000.
Our buyer picked it up for235,000 bucks.
They're going to stick about40,000 into it.
So part of me is kicking myselffor not just buying that one
myself.
But that's why we do things theway we do at Wisconsin Discount
(00:45):
Properties because we all win.
They make money, we make money,sellers happy.
It all works out great.
So if you're looking foroff-market deals similar to that
, one that you can flip or putin your portfolio as a BRRRR or
whatever you want to do, justhead to
wisconsindiscountpropertiescom,plug your information in and
start getting access to theseoff-market deals.
We're putting two to five ofthem out every single week to
our buyers list.
(01:05):
That being said, let's get intothe episode.
Today I've got the Farley famKayla and Brandon.
How are you guys doing?
Speaker 2 (01:11):
Great, good, great.
Thanks for the invite.
Appreciate it.
Speaker 1 (01:15):
Absolutely Excited to have you guys on.
Tell the audience a little bitso they can get to know you guys
.
Speaker 2 (01:30):
Where are you located ?
What's your history with realestate?
How did you get into this thing?
Kind of, give us just a full.
Let's start there.
Give us the full backgroundhere.
Yeah, so we're located inshawnell, a little bit outside
the green bay area, where youguys are from, uh, but we have
been in real estate for quitesome time now uh, 2016, which I
hear is when you got in theregood year year to get in.
Yeah, yeah, Um, but a little bitslower than you, I think, but
we're still doing uh flips andwe got a couple of rentals, Um,
(01:52):
so that's about our experienceJust kind of still still getting
the ball rolling here for us,Awesome.
Speaker 1 (01:57):
What got you into real estate, guys?
Cause I always love thisquestion but, like Brandon Kayla
, what the heck are you guysdoing?
You're gonna have to deal withtenants and you're gonna have to
do this Right, and they startgiving you all the negative
stuff.
Did you guys experience any ofthat when you were starting?
Speaker 3 (02:31):
I think, well, we.
It wasn't like a big corporateright, we just met her and she
was awesome and we're like, ohmy gosh, we can do this.
So we picked up a couple ofbooks and we were really big
into Bigger Pockets.
In the beginning we readBrandon Turner's book, which is
amazing.
He's amazing.
Um, we actually just recentlymet him but, um, nice, so that
kind of just laid it out, I mean, and it was pretty black and
white.
So that's when we went afterour first duplex then just
(02:53):
across town.
So awesome.
Speaker 1 (02:54):
Did you guys live in it?
Did you house hack it or was ita straight rental right from
the start?
Speaker 2 (02:58):
Yup House hack all the way Nice.
Speaker 3 (03:01):
Yeah, there was about three feet of dog hair
everywhere come on a paththrough it.
Oh yeah, definitely some.
Uh, some tlc needed in thatthing.
What?
Speaker 1 (03:12):
like I've been in hoarder houses but never a dog
fur hoarder house, that's ohyeah yeah, he wasn't letting it
go.
Speaker 2 (03:19):
I don't, I don't get it insulation or something along
with a mouse mouse uhinfestation, I'm sure right with
that right?
Speaker 1 (03:28):
oh my goodness.
So what did you guys have to doto clean that out?
Because you know pet smells ingeneral can be a a bit of a
problem.
Was it pretty smelly with thehair or was it just straight
like trying to get all?
Speaker 2 (03:38):
the hair on.
No, thankfully no.
No urine smells or anythinglike that, just a lot of hair.
So we got the place cleaned outand really didn't have to
replace any sub floors, but weplan on doing all the flooring
already.
Speaker 3 (03:50):
Okay, clean sweep and stuff, yeah.
Speaker 1 (03:53):
Painting carpet, that kind of stuff, yeah nice, and
do you guys still have thisduplex?
Speaker 3 (03:58):
yes, best property oh yeah, it has come through for
us so many times.
It's amazing.
Speaker 1 (04:05):
Tell me more about this.
Why is this the best one thatyou guys own?
Speaker 2 (04:08):
We bought it in 2016.
So we got a great price on itand then obviously you know,
everything came up in pricesince then.
So it's about double what itwhat we bought it for.
Yeah, that helps.
Speaker 3 (04:21):
And HELOC.
So HELOC has just been, it'sjust been awesome.
Speaker 1 (04:26):
So you guys know me and my HELOCs.
I love it, did you guys?
How did you finance itoriginally?
Was this the 5% down programback then, or what was this?
What was the story then?
Speaker 2 (04:37):
Yes, 5% down.
Um, I think it was actuallyless than that.
Was that three and a half?
Speaker 3 (04:41):
Yeah, we ended up actually doing 5% down, but then
they actually took out like asecond mortgage to help with
that as well, Cause we were, youknow, young and broke and no
money at all and um, but we gotit and we added some value to it
and um ended up refinancing itout of that second mortgage, I
believe, Um, and so we've justheld onto that mortgage then
(05:04):
thereafter.
Speaker 1 (05:04):
So the original first position mortgage Okay, cool.
And the HELOC thing.
How did you guys get the HELOC?
Did you find a lender thatwould lend on this property but
not be in first position?
Speaker 3 (05:16):
Yes, yeah, yeah.
Speaker 1 (05:18):
Can you guys share who that is, or do you?
Speaker 3 (05:19):
know, oh yeah, nicolet national bank here in
Wisconsin.
Speaker 1 (05:22):
Really.
Speaker 3 (05:23):
Absolutely.
Nicolet National Bank here inWisconsin Really Absolutely
awesome.
Yep, we actually work with NickChaudry, so I don't know if
we're allowed to plug even aname in there, but he's awesome
and he's even you know, hey,this is kind of like how some of
these other guys have this kindof laid out.
You know, what does that soundlike to you?
Or you know, kind of goes overour goals and structure wise for
loans, and it's just been areally awesome working with them
(05:43):
, yeah.
Speaker 1 (05:43):
Oh, that is so cool, cause I've never really had a
lot of luck with them oninvestment properties.
But I didn't know that theywould do a second position.
Heloc, if they don't have thefirst, so they do not have the
first.
Let me just confirm that.
Speaker 3 (05:55):
Correct, yeah, correct.
Speaker 1 (05:57):
Oh wow, all right, there's your nugget.
All right, guys, we can wrap.
This has been a great episode.
No, that's a big nugget.
There's only a handful of banksI've ever heard of that will go
second position HELOC on aproperty and investment property
that they don't have the firstposition on there.
So for the audience that'slistening, if you're new to
(06:17):
investing or you're not at thepoint where you even can think
about getting a HELOC yetbecause you don't have the
equity or whatever the case is,typically a bank is only going
to give you a HELOC if they havethe first position loan.
So meaning you go to thecommunity bank, they lend you
the money, you buy it, you fixup whatever and you go back to
them once you have some equityand you say, hey, I want to pull
some of that out and use it fordown payments or rehab or other
(06:39):
cases.
Typically, if you go to anotherinstitution that's not doesn't
have that first thing, they'regoing to say, oh great, we'll do
it, but we want the whole firstposition loan.
So this is a huge nugget thatkaylin brand are sharing with
you guys right now.
Speaker 2 (06:53):
so I'm definitely going to write that down and
yeah no, we do have other loansfor other properties through
that bank.
So I think you look at it asthey still have leverage there.
Speaker 3 (07:05):
Well, our whole business, though, too.
I mean all of our businessaccounts and stuff like that for
the company.
I mean it's all there.
Speaker 1 (07:10):
So the relationship is strong with those guys.
Speaker 3 (07:13):
It's not just a one-off type of product.
Speaker 1 (07:14):
Yeah, that's.
Another important part withcommunity banks is they're a lot
of times more relationshipheavy versus Fannie Mae, freddie
Mac.
You heavy versus you know,fannie Mae, freddie Mac, your 5%
down loan that you're going totalk about.
They don't know who you are,you're just a number in their
system.
Community banks are going to.
The relationships can go a longway and getting some lending.
Speaker 3 (07:31):
Oh, yeah, for sure I mean yeah, I can go on and on,
but yeah, yes, yes, talk aboutlike.
Speaker 1 (07:36):
so you, you guys, are mostly into flips now, or you
said you guys, earlier we weretalking.
You have a couple of BRRRRs inaddition to that happening.
What's the business strategy?
What's the big goal for youguys?
Speaker 2 (07:47):
Yeah, I think right now we're really looking at
building our base.
Speaker 3 (08:07):
We're trying to get a base of rental properties,
mainly through BRRRR, just tokeep us held up and make sure
that if we do make some riskymoves or we want to take some
steps here going, some stepshere going forward, that we do
have that base to fall back on.
So cash them in later.
I mean whatever you know.
More HELOC loans.
Speaker 2 (08:14):
I mean whatever Right I mean we just don't want to
bite off more than what we canchew.
And yeah, yeah, using theHELOCs has been huge for us.
Yeah, making our own bank there.
Speaker 1 (08:22):
What are you guys using your HELOCs for?
Cause bank there.
What are you guys using yourHELOCs for?
Because I use mine, maybedifferently than you, but I'm
curious for the audience how areyou guys finding this?
It's such a great tool and howare you finding it coming into
play for what you guys are doing?
Speaker 3 (08:34):
So right now, we currently are using them for
rehab.
So instead of taking hard moneyto pay for the house and rehab
in order to obviously save somemoney there, we're just using
hard money to purchase theproperty and then we're using
our HELOC zone for therenovations.
Speaker 1 (08:50):
Very cool.
Yeah, that definitely saves alot of money.
Those darn loan sharks outthere.
They're making their money onthose hard money loans, but yeah
.
Speaker 3 (08:57):
I wish I met earlier is all I have to say.
Speaker 1 (09:00):
Yeah, yeah, so you guys are primarily.
When you're doing the flips orthe burrs, you're going hard
money HELOC on all of them.
Speaker 3 (09:08):
If we can?
Yeah, I mean until we haveenough HELOC right and then we
don't need the hard money.
Speaker 1 (09:11):
but yeah, sure, yeah, no, that's great.
And so everybody listening tothis, that's another good nugget
.
You might want to go back andrelisten to that if that's kind
of foreign to you.
But a hard money lendertypically they're going to be
higher interest, higher pointsright, then a community bank
would be but they can closequick.
They're typically, again,relationship based and they're
going to potentially give yourehab money along with it.
(09:32):
But, like what Kayla justmentioned, you don't have to use
them.
You save quite a bit ofinterest and you can be more
competitive on your offers.
You can increase your spreads,all those kinds of things.
So that's fantastic.
Have you guys talked to Nicoletor any other community banks
about trying to replace thathard money lender now that
you've got some HELOC cash andjust work with them on these
flip loans or any of that, tobring the cost of capital down
(09:52):
even further?
Speaker 3 (09:54):
Being honest, I don't recall.
I feel like I've had thisconversation with them, but the
situation we were in before thetimeline wasn't going to work
out because they still need thatstandard 45 plus days to close
and so it's definitely now thatyou say that I might want to
revisit that.
They very much might do that orlike their own form of, like a
construction loan.
You know, however, they want tocategorize that, but I'm not
(10:17):
sure right now.
Speaker 1 (10:17):
Okay, yeah, that's something we I usually recommend
to people.
Once you can kind of get offthe hard money piece and get you
know, you got a little bit of a, you know, you got a track
record.
Now you guys have been in theindustry since 2016.
You guys have enough there thatyou could go talk to a bunch of
community banks and figure outwho's going to be the best
option for you guys for eachdeal.
Kind of use them like a littlechess pieces.
(10:37):
Sometimes, right Is what I dois like all right, who's got the
best rate?
Sometimes, if I'm doing a flip,I don't really care what the
rate is, as much as like whatare all their loan fees going to
be?
Right, because that is going tomake more of a difference than
just half a percent different oninterest rate cares in a six
month loan.
Right, it's like you're goingto hit me with a $2,000 loan fee
.
Well, this other guy's onlycharging me 500 for that.
(10:59):
I'm going to get this duderight.
Speaker 3 (11:01):
Yeah, the little things are like little pet
peeves to me, where everyone'slike oh okay, so the loan is
this much, and then the rehab isthat, so then there's your
profit.
I'm like no, no, no, no.
You're not factoring in thepoints, the closing costs, the
holding costs, like all thoselittle things that end up taking
a lot more than you think itdoes.
Speaker 1 (11:20):
Yeah, Did you guys have an experience where, like
you, you found out the hard wayall this stuff you're budgeting
one way and then all of a suddenyou looked at it and you were
like, oh, I didn't realize therewas going to be.
Speaker 2 (11:30):
She's all over it.
You got a good wife on yourside.
You're golden.
You don't got to worry.
Speaker 1 (11:38):
How do you guys divvy things up, like Brandon?
You just mentioned somethingand this is one of the reasons I
love interviewing couples,because usually couples, I find,
are some of the most successfulreal estate investors.
One of you has a strong suit inone area.
The other person is strong inanother area.
Speaker 2 (11:55):
Like, did you guys ever have a sit down and divvy
this up?
Did it happen?
Naturally, like, how did thisall come to be?
Yeah, I mean, we also run afence company in Charlotte
called Frontline Fence, so wekind of follow that same dynamic
.
I'm in the field, I haveconstruction background and she
handles all the customerrelations, all the financing,
all the bank relationships.
So it's kind of the same rightin real estate where she figures
(12:19):
out all the loan information,she figures all the financing
out, and then she basically saysthis is what I want it to look
like and I go out and do it.
So very easy transition, yeah.
Speaker 1 (12:30):
The honey.
Here's your honeydew list.
Go, make it look like this.
I got the rest of it, don'tworry about it, baby right, and
you don't want me picking colorsand stuff I'm right there with
you, brandon, I'm, I'm, I'm thekayla of the relationship,
though I just, I just pushpapers and then my wife is like
here's the design I want.
And then I'm not the guy she'sgiving that to.
That, that's some contractor.
(12:51):
You don't want me doing anyhandy work.
I'm going to get fired in asecond.
So are you in actually swinginghammers, brandon?
Are you outsourcing the rehab,or how have you found success on
the flips and the rentals thatyou're rehabbing?
Speaker 2 (13:07):
It really depends on the project and how big it is
and the spread.
So if if there's not a ton ofspread in it, I will probably do
a little bit more.
Uh, if it's not the entirething it's, it's doing the prep
work for the contractor.
So like we need to rip out somefloor and cabinets and some of
that stuff, I'll go in and clearall that out to save contractor
(13:29):
time.
But ideally we get where we canhave the contractors just go in
, do all of the work and then wecan sit back and manage and
look for more.
Speaker 1 (13:43):
Yeah, yeah, you guys, if you listen to the podcast
you've heard me say this 100times Highest and best use, I
think, is finding deals andfinding money, not typically in
swinging hammers, but you got todo what you got to do,
especially if you're juststarting out.
Sometimes you got to get inthere and swing the hammer to
start building up that kitty alittle bit, right, so you've got
some capital to use goingforward.
So it just depends on, probably, the evolution of where you're
(14:04):
at in your real estate investingjourney a little bit.
So for you guys going forward,what does the goal look like?
Like you guys mentioned alittle bit building a base, but
there wasn't anything specific.
You guys have a specific targetof like we want X amount of
flips a year, x amount ofrentals a year?
um uh, x amount of doors by somany years.
Or are you guys just kind ofjust doing the do and taking
(14:25):
them as they come?
Speaker 3 (14:27):
Um, I think right now it's not so many.
Um, I think right now it's notso many.
So much like the doors oramount of rental properties.
It's more just the incomereplaced, right, Because we
could very easily get that withone giant purchase versus 10
smaller homes that we hold on asrentals, right?
So we're just trying to aim fora replacement of income, right?
(14:48):
So whatever that kind of lookslike, Nice.
Obviously the passive right.
That's the goal here.
So buy and holds are toppriority.
Cash is nice, but we do haveour you know our company that
we're running as well, so that'skind of our bread and butter
right now, you know, paying allof our typical expenses, but
anything that we can hold ontofor long-term is going to be the
(15:09):
goal right now.
I'm really excited.
I just actually I just watchedone of your podcasts with a
couple of their.
Their name is not in my brainright now, but they were the
couple in door County that hadpurchased like an eight or a
nine unit and they had turned itinto a short-term rental.
Speaker 1 (15:26):
Okay.
Speaker 3 (15:27):
Very, very interesting oh.
Speaker 1 (15:28):
Joey and Chrissy.
Yeah, yeah, I'll go on my yep.
Speaker 3 (15:31):
Yeah, yep, yep, yep, yep.
So just hearing them and thisis a kind of a thought in my
brain, you know, for the lastseveral months and hearing them
talk about it, I was like, ha ha, like you know, like they've
done, it like let's go you know,yeah, and I love hearing that
and seeing that because if it'sdone once it's, you know it's
done once, it's justduplicatable.
So I'm very pumped to get abigger purchase like that here,
(15:51):
probably this year.
Speaker 1 (15:52):
Oh, that's cool, that's exciting stuff.
Yeah, we also had anotherinteresting one of somebody who
bought a motel here in FishCreek One of the early episodes
here and it was just a mom andpop.
They ran it as the classicinnkeeper you show up, you check
in with somebody behind a desktype of thing, and they bought
it.
They had to do a ton of work toit but made it all
technology-based and soeverybody's remote checking now
(16:15):
and they just show up, theypunch their code in, they go in,
there's nobody there in keepinganymore and they just jacked
the NOI on this thing like crazyand I can't imagine how much
equity they got in this suckernow.
Speaker 2 (16:26):
So, yeah, that's wonderful.
Yeah, I think that's that's,that's her goal yeah awesome.
That's stars in her eyes everytime she sees a hotel or
something up for sale.
Speaker 3 (16:34):
Yeah, yeah, absolutely, motel like come on,
let's go.
Speaker 1 (16:37):
I like it seems like it's becoming more and more of a
thing.
Like you know, listening tobrandon turner, I remember when
I was listening to biggerpockets back in 2016, 17, maybe
18, I don't remember when it wasbut he started getting really
big into the mobile home thingand the mobile home parks and
and then it was storage unitswhere, like, everybody was going
after storage complexes andstuff and now I don't know, but
I don't follow the campgroundthing as much anymore, the uh
(16:58):
mobile home thing as muchanymore.
Campgrounds that was anotherbig thing, but uh, the storage
seems like that's cooled off alittle bit.
The returns aren't great.
It's tough to find a value-adddeal a lot tougher nowadays.
Same with multi-families beentougher to find these days.
But it seems like I'm seeingmore and more people do these
motel conversions either intoapartments they're converting
them straight up to apartmentsor into short-term rentals.
Speaker 3 (17:19):
So that's great like a rent by the room kind of deal
too yeah yeah, yeah.
Speaker 1 (17:23):
So it's kind of cool.
We had an opportunity a fewyears ago with one in algoma and
I'm kicking myself that wedidn't just close on it.
It was 40 units, it was rightby the water and I saw the guy
relisted it like a couple ofyears later for like 500 grand
more than what we could havebought it for.
So I don't know.
Yeah, it's one of those things.
It's a deal that I sit andthink about from time to time
(17:44):
and we've had those.
Speaker 2 (17:47):
Yeah, yeah.
Speaker 1 (17:48):
You're like, oh, I could have been me.
Yeah, yeah, what is what hasbeen the biggest struggle for
you guys in real estate?
Is there a particular dealthat's been the biggest
challenge that you guys canshare?
Has it been just some type oftrying to figure a certain thing
out, like what's been thebiggest challenge for you guys
so far?
And maybe each of you couldanswer individually, if you each
are like, hey, this is what iswhat I'm thinking and you got
(18:09):
something different.
Speaker 3 (18:09):
but I think, honestly , it's getting out of our own
way.
Like number one, I oh yeah,you've got a great interview,
cause we were talking about thisthe other day, didn't we?
But I think, just getting outof our own way, like again, we
purchased the duplex back, youknow way back 2016 or 17,
whatever it was, and, you know,it just kind of cooled off from
there because it was likeanalysis, paralysis.
(18:31):
It was just like, oh, we don'tknow enough.
Well, we don't know enough.
Well, we don't know enough.
And it's like you do it, youget out of your own way and you
just do it and you're like,really Like I could have been
doing this for how long I couldhave taken advantage of the
COVID market.
You're like, oh, you know, yeah, along those lines.
Speaker 2 (18:51):
Like we said, we started in 2016.
It was a great market back thenand we're consuming all this
knowledge, consuming all thiseducation, and one of the big
things that they told us was goto the REI't do.
Okay, and we just went nowhere.
We were stuck with thisknowledge.
(19:16):
We have to get 20% down.
We had no idea what our moneywas.
We didn't know where to get thecash for the next deals.
Okay, so we just sat like well,we need to come up with more
capital to buy more properties.
Speaker 3 (19:30):
In comes the fence company, insert company.
We were on.
Speaker 2 (19:33):
So we figured we have an opportunity to start more
properties.
In comes the fence company,insert company we run, so we
figured we have an opportunityto start this company.
This will be a capitalgenerator to allow us to buy
more properties and in turn justbecoming more busy.
So that more or less just tookup all of our time, and now
we're so swamped with everythingelse that we can't even think
about buying more properties.
Speaker 3 (19:54):
Go after the actual goal here.
Yeah, right.
Speaker 2 (19:57):
So we purchased um education just a couple years
ago and one of the first thingshe says is go to your rei
meetups, go and meet yournetwork, you know form, you know
this network of people aroundyou so that they, they give you
advice.
And and that's when I came tothe rei success group and it was
immediate, yeah, I met, metpeople, learned everything that
(20:21):
I was missing, and it all justkind of now.
So now in the last year or so,everything is just skyrocketing
oh that's fantastic, like,fantastic.
Like I said, we have two BRRRRproperties we're working on now,
whereas a couple of years agothat was unfathomable.
That's so awesome.
Speaker 1 (20:38):
I love that.
I remember that's how we metBrandon.
Weren't we messaging back andforth?
Just met through one of theFacebook groups and then I was
just asking you a little bitabout what you do and then I
think I called you because I wasdriving to the RAS success
meeting.
I remember that night.
And to the RAS success meeting.
I remember that night and I waslike dude, why don't you come
out?
And you're like I live inchannel.
But yeah, what the heck?
I'm like oh, this dude'sserious about real estate.
(21:01):
Like he's going to just dropwhat he was doing at like four
in the afternoon and be there bysix.
This guy wants to buy some realestate man.
Speaker 2 (21:06):
Yeah, and that was my first meeting.
That was fantastic.
Speaker 1 (21:15):
Oh, that's awesome dude, that's awesome Well.
Speaker 2 (21:16):
I'm glad we could get you in there.
It didn't take much armtwisting to get you there, it
just took a little invite.
Speaker 1 (21:21):
I was hungry, I was ready.
Yeah, you were on your way,that's right, just needed
somebody to invite you.
So anybody listening come tothe REI Success Meetings fourth
Tuesday of every month, greenBay.
Shameless plug, but not really,because Brandon just told you
how much it changed his business.
Speaker 3 (21:31):
No, for real and I've never met a community like it.
I don't even go that often andBrandon's really the one that
goes, but we're running a newcompany.
We've been in obviouslydifferent industries and the
corporate up in the biggercities near us and there is no
community like the real estatecommunity that you find.
I mean talk about people trulybending over backwards to help
(21:52):
you or give you advice orliterally anything.
It's, it's amazing and we'rethe same way you know.
Speaker 1 (21:59):
Yeah, you know what I think is interesting, as you
were saying that here, thethought that came my head is yes
, the group is awesome.
However, you have to engage thegroup too.
You can't just show up in ameeting and just sit there and
be, you know, in the back of theroom not talking to anybody.
You're not asking questions,Like the thing that you guys do
really well at networking is youcome in with thoughts,
(22:20):
questions, intentions, things.
You need to get relationships,you need to get things.
You can give the.
You know you guys are alwaysthere too to give if you can.
Right, and I think that's whyyou guys benefit so much from
networking events.
So I've seen it the other way.
Where people come, they comeone time they don't engage with
anybody, they're gone rightafter we wrap, they're not
(22:40):
sitting around networking andthen they never come back and I
just I feel like sad for some ofthose people because I'm like
gosh, you were so close, Likeyou've got the door.
It's like going to the gym andnever, never hitting the
equipment.
Speaker 3 (22:51):
Don't even see the dumbbell rack.
What do you?
Speaker 1 (22:52):
got there, you got there.
You put your tennies on.
You just never went and pushed,pushed any weights, dang it.
You were so close, right.
Speaker 2 (23:00):
And so all it takes is dip your toe, go out on a
limb, talk to somebody you knowbe the first one to approach
somebody else, and you're nevergoing to regret that, regret
that that's right, that's right.
Speaker 1 (23:10):
And I think what's what's really cool is like the
group is so good but like justput your like you said Brandon,
put yourself out there and it'snot comfortable, not not many
people, like walking in a roomof 50 people and not knowing a
soul and then going like uh hi,you know, but you just start
talking to people, you ask themabout their business.
Just you ask them like what,how long have they been in it?
You know some basic questionsto get the conversation started
and have some idea of maybesomebody who you need to meet
(23:32):
there, like a lender or acontractor or something, and
you'll find like that's all youneed and just asking a few
questions to some people andthey'll everybody's happy to
introduce you to somebody else.
So at least in the NortheastWisconsin, you know, I know
there's some other networkinggroups I've heard of that aren't
so open, maybe in some otherparts of the state, but for the
(23:55):
most part a lot of the communityaround here is pretty open to
helping people succeed.
So now that's great, greatnugget.
Kayla, you were talking aboutyour struggle.
What was the struggle?
Again, I want to go back tothat because there was a thought
I had.
What was your biggest struggle?
I got off on brands there.
Speaker 3 (24:07):
Getting out of your own way.
I think again the analysisparalysis, where you just think
that it's you're missingsomething.
You think that there's justsomething in it that you're
missing and you're not going todo right, and that you just have
to have all of the answers andall of the ducks in the row
before you even get started andit's just, it's not like that,
it's like don't get wrong, doyour research Like I'm not
(24:28):
sitting here, just like blindlygo forward, but at some point in
time you just have to pull thetrigger, you know.
Speaker 1 (24:35):
You and I were just talking about that before we hit
record with I was just at acharity hunting thing down in
Texas with a guy who's beendoing seller finance and
creative finance and you know,selling seller finance notes to
the secondary market and allthese other things that are like
way out of my head right now,and I think you said that to me.
It's like, well, you just gotto do one and I'm like, dang it,
she's right, I just got to stopgetting in my own damn way and
(24:59):
go do one.
That's true, and then I'll belike that'll be an episode in a
couple months of me talkingabout how great these things are
, I'm sure.
So, anyway, no, that's awesome.
What has been the biggestsuccess for you guys besides
that duplex, and what were thethings that made it so
successful?
So we know why some of themarket conditions for you guys
helped with the duplex, but talkabout maybe another deal that
(25:22):
you guys have done.
That's like, man, this was aslam dunk and everything went
right.
Here's what happened and here'swhy it was such a success.
Speaker 2 (25:30):
I think it's probably the house we're sitting in
right now.
Yeah, last year we flipped thishouse that we're in right now.
We got a.
It was a firehouse, okay, had afire in it.
The homeowner got paid out byinsurance, so we got it dirt
cheap, needed a ton of work.
It was a huge mess, but itreally taught us a lot.
(25:52):
I mean, we got a great group ofcontractors out of it and
really our first big flip, Imean we stuck 120,000 into this,
wow.
So it was a lot of work and alot of making sure that
everybody's coordinated and thateverything goes right, and we
(26:13):
did our first hard money loan Umright, yeah.
Speaker 1 (26:18):
Yeah, okay, make sure I'm getting got to check with
the person who did it.
Speaker 2 (26:23):
Yeah, so we got the hard money through good faith.
So that was our first timeworking with those guys Great,
great bunch of guys there and,yeah, everything just really
fell into place.
Speaker 3 (26:36):
Well, and the best part about it is you know, five
bedroom, three bath, the thing'shuge right.
This isn't some small littlelike right.
Speaker 1 (26:43):
It's a little two bedroom bungalow here.
Speaker 3 (26:45):
Right, Exactly, and shout out to Preston.
I'm sure you know everybodyaround here knows who Preston is
, but I got to say a shout outto him because he was just
awesome with helping us out asfar as walking it and just
giving us confidence and again,that community that you find in
those relationships that youbuild.
But we had an ARV for thisthing at like what 220?
Speaker 2 (27:05):
235.
Speaker 3 (27:06):
235?
.
Speaker 2 (27:07):
Yeah, originally.
Speaker 3 (27:08):
Yeah, and it ended up appraising for 300.
Speaker 1 (27:11):
Oh what.
Speaker 3 (27:12):
Yeah, and it ended up appraising for 300.
Speaker 1 (27:14):
Oh what yeah?
What happened?
Was it just like because youguys did such a great job in the
market, you know the timing?
Or were you just so off oncomps at the start, super
conservative, or what happened?
Speaker 3 (27:22):
There really weren't a lot of comps to go off of,
honestly.
So that was I mean, it was likea nail biter Cause.
We're like we're going to getscrewed over here, like there
are no good comps.
And the appraiser like shewalked around and, you know, she
complimented me on like thedesign of everything and I asked
, I mean, I like it was my firsttime, right, so I'm like asking
all the questions like whatwould you do differently?
(27:43):
Like what are your thoughts onthis?
You know, and and she's like,honestly, she's like I wouldn't
change a single thing.
This is something.
Yeah, like this is something.
Oh, yeah, you're like, oh,praise the lord, yeah, I was
like okay, but that's, that'ssuch a great feeling of knowing
like I didn't screw something up, you know so for sure you can
tell when you're walking with anappraiser.
Speaker 1 (28:02):
If you guys have never done this before audience,
when you do a refi or somethinglike that, go with the
appraiser and do exactly thecase I was talking about, like
ask them every question.
You possibly you're paying forit.
You might as well ask themright and then you could tell
You're paying for it.
You might as well ask them andthen you could tell if they're
digging it.
You're like oh yeah, it's goingto be sweet, yeah.
Speaker 2 (28:20):
That's awesome.
It almost didn't happen becausewe actually tried to wholesale
this property first before weflipped it and we've learned
some.
We took the most horriblepictures and tried to shop it
and it just scared everybodyaway, yeah.
Speaker 1 (28:38):
Firehouses.
I'll tell you, as a wholesaler,they are tough to sell.
Speaker 3 (28:41):
So now, if I get a firehouse.
Speaker 1 (28:43):
I know who to go to.
Speaker 3 (28:45):
Yeah, for sure.
Speaker 1 (28:46):
Random firehouse people.
Right, that's it.
What were some of the biggestchallenges with a firehouse?
Because I immediately gostructure problem, oh right.
Speaker 3 (28:55):
The deck.
Speaker 2 (28:57):
Oh yeah, unexpected things, okay, things completely
unrelated to the fire, okay,well, cause, when you, you know
that's a good point you know,when you walk in, that's all
you're staring at, you'relooking at that fire damage and
you know, okay, how's it goingto go and how are we going to do
it.
And then you, you tend to missother things.
So, you know, try to that'd bemy, my big advice.
(29:20):
There is try not to focus onthe fire.
Um, as much as you think.
Okay, so we got lucky where itwas about a 10 by 10 area that
actually got affected by thefire.
Um, so're exactly right.
Structurally we had a lot ofwork, okay, so we had to do an
entire roof in one section ofthe house and then some pretty
(29:41):
good, uh, structural work and inwhere it connected and kind of
where the fire was.
Speaker 1 (29:47):
So did you guys have to replace the trusses or like
what.
What was the the extent of theroof?
Speaker 2 (29:52):
Yeah, we, we did now not in every case.
You wouldn't have to.
They were pretty scorched, sowe just figured just get it out
of there and get the smoke smellout.
Speaker 3 (30:02):
I think a big part of firehouses, though, is this
again, like what Brandon issaying is it's not always just
where it's been burned.
It's when the fire departmentcomes in here and sprays
everything from head to toe inwater and now, when that's
through the walls, your drywallis shot.
So you might as well just planfor ripping everything down to
the studs.
It might not be burned, itmight not even have soot on it,
(30:23):
but I can guarantee you you havewater damage.
So that was like a big factorfor us where, okay, yeah, sure.
Factor for us where, okay, yeah, sure, it's just this little 10
by 10.
It went all the way up to thesecond story, right.
So I mean again, big structuralissues there.
Yeah, that we had all fixed upand actually was like kind of
good because we ended up beingable to change the layout, but
the amount of water damage andmold that you find from now in
(30:46):
our situation, this sat for awhile, right.
So there was a lot of oldremedies that we had to do,
taking down all of the drywall,you know.
So it's like I'm happy, becausethen there's no like creepy
molds anywhere right, yeah, youget to sniff it, you get a fresh
start.
Right right, you have to makesure that it's good to go, but
that was definitely unforeseenon that extent.
Speaker 2 (31:07):
I think there was more water damage than fire
damage.
Speaker 3 (31:09):
Right, yeah, that's my point, yeah damage and then
fire damage.
Speaker 1 (31:14):
Right, that's my point.
Yeah, wow, that's so cool.
Now, I've seen it before andmaybe you guys aren't experts in
this, but I'm going to ask youanyway, we've had houses I
actually had one that nobodywanted to buy on the buyer's
list so I bought it, cleaned it,put some new flooring in and
listed it, but it had some firedamage in the attic.
Now the roof had been redonesince that was done and I was
being told like well, it'sprobably fine or they would have
replaced it.
But like, how do you know thatwhen you're looking at this,
(31:37):
like when you guys wereevaluating this, how did you
know like, yeah, we got toreplace those trusses?
Like did you have somebody comein and do that?
Was that just a judgment callthat you guys made?
Like if somebody's looking atone that's had some like fire
damage, genetic or you know, uh,to the trusses, like how do you
know what's salvageable and isfine?
You don't have to mess with it?
And when do you got to re roofand replace?
Speaker 2 (31:57):
Yeah, for us it was just a judgment call and it was
pretty apparent.
I mean, everything was prettyscorched and what we did was we.
When we opened everything up,we looked at the plywood
underneath the roof and it wasall black.
So we just figured there was nocoming back from that.
I know John Vander Heiden.
He does great work withfirehouses, so he would be
(32:19):
willing to come out and take alook if anybody's got any
questions.
Speaker 1 (32:22):
Okay, what is John Vander Heiden?
Is he an inspector, or what ishe?
Speaker 2 (32:26):
No, he's a contractor that just focuses on fire
damage.
Speaker 1 (32:31):
Oh cool.
Is he the guy that you guysworked with to do some of this
stuff?
Speaker 2 (32:34):
No, not this particular one.
Okay, but no, like I said, itwas just very apparent to us
that that had to go, okayProcess and that were pretty
scored.
So that was just the easiestsolution instead of trying to
everything out.
Speaker 3 (32:50):
I mean, if it was in a situation where we didn't know
I personally would not want tohave that on my conscience of
deciding whether or notsomething should be replaced I
would personally bring in, youknow, a local building inspector
.
You know, I mean, I knoweverybody doesn't really want to
go that route, but at the sametime it's like if a family is
going to be moving in here like,you kind of just need to do the
(33:11):
right thing and just get itlooked at by a professional for
sure well, if they get aninspection, you're going to be
busted anyway, right?
Speaker 1 (33:17):
so it's like you might as well get it done right
away and do it right there wasno hiding the fact that we can't
hide that stuff there's nohiding that stuff for sure.
No, that's great.
Well, this is awesome, guys, Imean, I'm taking, I got a page
of notes here already uh, on alot of things we talked about.
I'm sure, like we talked aboutbefore this, we could probably
just keep going for another hour, hour and a half on here, but I
know you guys got kids that yougot to deal with and all that
(33:39):
stuff, so we'll get you out ofhere.
Before we do that, though, Ialways ask a question at the end
.
Again, we're we, we loveWisconsin and we love investing,
and hence that's why we havethis podcast.
But we know there's people thatlisten to this that aren't in
Wisconsin, but they want toinvest here, so we got to tell
them a little bit aboutWisconsin, right, like?
So, with that, do you guys havea favorite place you like to
(33:59):
visit here in Wisconsin or afavorite tradition?
So if some of those folks comehere, they can just assimilate
right in.
You go first.
Speaker 3 (34:09):
Location, so for visiting.
Speaker 1 (34:15):
I'm a big sucker for devil's lake.
I've had that one other time, Ithink love devil's lake.
Yeah, all right, I got to getdown there Apparently.
It keeps coming up.
Speaker 2 (34:22):
And for people that aren't in Wisconsin.
You got to hit Von Steelewinery in Algoma and Bay beach,
oh yeah.
Speaker 1 (34:37):
Those are gems in Wisconsin, that's true.
Yeah, it's pretty fun.
Yeah, if you haven't been tobay beach and green bay, it's
very unique.
Speaker 3 (34:40):
I mean, you give like what some of these rides are,
like a quarter yeah, literallyten dollars all day long, and
they are just like the kind ofold school rides and you feel
like you're an old carny yeah,even if you don't got kids just
go, I mean they all have theirteeth.
They're nice high carny, yeah,even if you don't got kids, just
go.
Speaker 2 (34:53):
I mean they all have their teeth.
Speaker 3 (34:54):
They're nice high school kids, so I mean you know,
yeah, yeah for sure for sure,awesome guys.
Speaker 1 (34:59):
Well, if anybody wants to get a hold of you guys,
or or if anybody's looking forfencing options too, and uh, do
you guys service a certain areafor the fence company?
Is it just the shano area?
Are you anywhere northeastwisconsin?
What does that look like?
Speaker 2 (35:11):
yeah, pretty much anywhere.
Uh, our drive from shawnell, sowe do northeast wisconsin as a
whole, okay, so, yeah, if youwant to get a hold of us, it's
go frontline fencecom.
Okay, you'll find us there.
Speaker 3 (35:23):
Otherwise, uh, for house stuff and real estate
stuff.
I mean probably facebook.
I mean there's a lot of stuffgoing on on facebook with that,
that sort of thing.
Not much Instagram, but I likedoing my cute little videos on
Instagram just keeping everybodyupdated.
But um, like Facebook yeah.
Speaker 1 (35:38):
Cool, awesome guys.
Well, thanks again for being onhere.
Thank you all for listening toanother episode of the Wisconsin
investor podcast.
We'll see you on the nextepisode.
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