How Wyatt Built a Real Estate Portfolio From 2,000 Miles Away (Without Using His Own Money)

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How Wyatt Powell Bought 4 Properties in 2 Months—From 2,000 Miles Away | The Wisconsin Investor Podcast

Can you build a real estate portfolio without even living in the same state? Wyatt Powell did exactly that—locking in four properties in just two months while living in Scottsdale, Arizona and investing in Wisconsin.

In this episode, Corey and Wyatt break down:

• 🔁 How the BRRRR strategy creates infinite returns (with zero dollars left in the deal)
• 💰 Wyatt’s exact private money pitch that's working right now
• 🧠 The “Who Not How” method for building scalable out-of-state systems
• 🏦 Why community banks and credit unions can change your investing game
• 🛠️ How to standardize materials, build a contractor team, and manage rehab from anywhere
• 📱 Using Facebook groups to find real boots-on-the-ground help
• 🧾 Why liquidity sometimes matters more than a lower interest rate
• 📈 How Wisconsin’s stable, appreciation-driven market became his launchpad

Whether you're in the Midwest or across the country, this episode is packed with actionable insights, mindset shifts, and proven systems to help you start investing—without needing to be local.

🎁 Grab our free BRRRR course and join the buyers list at https://www.wisconsindiscountproperties.com

Episode Transcript

Speaker 1 (00:00):
Hey everybody, we are back with another episode of
the Wisconsin Investor Podcast.
Super excited for my guesttoday, who I'll introduce in a
second.
Before I do that, though, as Ido on every show, today's show
is sponsored by WisconsinDiscount Properties A pretty
exciting announcement atWisconsin Discount Properties.
A few years back, I created aBRRRR for beginners course, so

(00:23):
if you're not familiar with theBRRRR process, it's the best way
to build wealth, in my opinion.
Essentially, you buy a property, rehab it, rent it out and
refinance, and the goal is topull all, or at least most, of
your down payment cash and rehabcash back out of the property
to go use again, over and overand over again and create

(00:44):
unlimited amounts of wealth.
So I created a course on thatand we are giving it away for
free.
So to get the course, you justgo to Wisconsin Discount
Properties, put your informationin to join the buyers list.
Somebody from our team willreach out to you, have a
conversation with you and getthe discount code and the link
over to you and let you startlearning the BRRRR process and
doing it the right way.
It's a very action-orientedprogram.

(01:04):
We used to charge $3,000 forthis course and you guys are
getting it for free.
So go to the website, fill itout, get on the buyers list and
let's start building someunlimited wealth.
All right, with that, let meintroduce my man, mr Wyatt
Powell.
Wyatt, what's up, man?

Speaker 2 (01:23):
What's going on?
Corey, Thank you for having meon.

Speaker 1 (01:25):
Absolutely, buddy.
Tell everybody where you'redoing this podcast from today.

Speaker 2 (01:31):
I'm doing this podcast from Scottsdale, Arizona
, currently in my dining room.

Speaker 1 (01:35):
Unbelievable what we're going to talk about today.
So Wyatt is.
He joined our team at WisconsinDiscount Properties almost two
years ago now and he joined upreally to help us a lot on the
tech side of things and buildingout our CRM and all things
technical and he's really grownand developed into more of an
operations role now so he helpsme manage our team.

(01:58):
We've got about 15 employeesand Wyatt's really sort of that
number two guy for me.
He's grown into and throughthat process.
What's been great is Wyatt hadhis own ambitions of getting
into real estate investing andso recently, wyatt, a switch has
flipped for you and you've beenon a tear man locking up

(02:20):
properties.
So maybe tell everybody alittle bit about your background
and how did you get to thispoint where here you are now
buying properties in Wisconsinfrom Scottsdale Arizona.

Speaker 2 (02:32):
Yeah.
So I reckon I spent the earlyparts of my career as an
engineer working for a companycalled Baxter Medical, worked in
Cleveland, mississippi, hayao,puerto Rico during COVID Great
time doing it.
But eventually I had to wrap upsome more schooling, that kind
of thing.
And over big beers at a Mexicanrestaurant one night I just was

(02:52):
talking to my old buddy, lukeRoss, who I'm still pretty close
to this day, and he's tellingme about this weird real estate
thing he was doing and I waslike man, you gotta have some
kind of process or system, or I.
I was like man, you know, yougot to have some kind of like
process or system, or I bet itwould just be a nightmare to try
to manage that.
He ordered like six more drinks.
We start talking and I had somegood ideas, end up going to

(03:13):
work for him after I graduatedand it was great.
I got my foot in the door but Iwas not investing real estate,
I was just the ops guy.
It was fun, learned a lot.
But man, man, in hindsight I hadlike negative real estate
knowledge at the beginning ofthat of my time there and I
learned some of it, um, going towork for left main for a while,
do all these crmimplementations, and I saw guys

(03:35):
that I've known through cg.
Yeah, I've been a cg forprobably four or five years now,
I guess.
Guys I've known through cg thatare my age, that owned seven
doors when they joined and nowthey own like 150.
Yeah, and I'm building allthese guys' CRMs.
I'm counting the numbers beforethey count them, kind of thing,
and I'm like God, these guysare just phenomenal.

(03:55):
What are they doing?
What's the secret sauce?

Speaker 1 (03:57):
Yeah.

Speaker 2 (03:58):
And there is no secret sauce, is what Conor
McGregor says.
But I just kind of got to cozyup to a bunch of investors that
honestly, or guys already knewit, just deep in the
relationship, um, and one thingled to another, end up working
with you and I've always said Iwant to own real estate.
Man, I bought a property herein tempe, close to asu, rent it
to a bunch of buddies in thechurch.

(04:18):
The rents are great.
Um, it's I mean, it's anexpensive place to live, just in
general the rents are great,great but you're handling.
You know some people it doesn'tmatter half a million to our
houses, so built in the 70s,right?
So you know it's bought onmarket through realtor 5% down
on stuff.
But I still was not.
I wasn't doing the off marketthing, I was getting no discount

(04:40):
.
And after working here it justkind of started to click.
I did, I think, that one dealin winford with a local bank and
then I listened to a podcastwith you and jay connor not only
does he remind me of everyappliance salesman from my
hometown.
But it made total sense hearinghim talk about it and I just
started pitching private moneyto the individuals my life that

(05:01):
I knew at higher net worth orthey or they maybe wanted to put
their money to work.

Speaker 1 (05:06):
I bet.

Speaker 2 (05:06):
I went like one for 15 or one for 17.
I got some interesting.
Not right now, man, I'd love tohelp you, or hey, I'd be
interested, but I just not rightnow.
So there's some follow upsthere, and if I were to be a
little more aggressive on socialmedia I could probably pull a
few more people in, but Istarted learning very quickly
how to communicate it and thathas been a huge game changer.

(05:27):
And I remember guys in cgtelling me about private money,
but it just didn't click until Idid my first deal and so I
funded, uh, the marionette dealwith private, and now I'm doing
a blend of private and I'm alsodoing in these net.
So I'm doing five deals, fourdeals.
So far they're all financeddifferently oh, interesting.

Speaker 1 (05:44):
Well, we're going to get into that.
So for those of you guys thatdon't know what CG is, if this
is the first time you heard ustalk about, cg is a mastermind
group that, uh that I belong toand why why it's been, as he's
worked for other organizations,uh, throughout the country in
the real estate space.
They also were members of thisgroup and so that's how we got
to meet was through this groupcalled Collective Genius we call

(06:06):
it CG for short, but it's beena great group.
Obviously, you know got to pickup a player here in Wyatt for
that group, but I just wanted toput a little context for those
people who don't know what CG is, and if we reference it again
now they'll understand that.
Let's talk a little bit aboutthat private money thing,
because man, jay Conner yes, Ilove Jay.

(06:27):
So if you guys haven't heardthat podcast, go back maybe 10
episodes.
I think it was ago that we hadJay on.
So Jay is, he is like the guythat everybody knows is like
private money, like he sells aprivate money course.
He's got a book that you canget for free.
Actually, if you go listen tothat episode, I think we have a
link in there for his free bookon how to raise private money
and he is just in love withprivate money.

(06:48):
It's kind of like me and theburr.
I love the burr strategy, jayloves private money and I like
both, because sometimes you needprivate money to do these burrs
right.
Talk to me.
Let's go through Winford.
So Winford was a duplex inGreen Bay that you picked up,
right.
Yeah, bird was a duplex inGreen Bay that you picked up,
right.
Yeah, correct, let's talk alittle bit about that one.
So you said you that one.
You just used a commercial bank, is that right?

Speaker 2 (07:10):
That's right.
Yep Local bank.

Speaker 1 (07:12):
All right, talk to me a little bit about their
financing structure, like howdid that all work?
Like how did you end up gettingthat one closed up and
finalized and off to the races.

Speaker 2 (07:21):
Yeah, I mean it made like no sense to me at first.
Right, because I'm just, thisis my first go around buying,
doing stuff off market.
You know I've always wanted to.
How they do it is they say, hey, you know, I'll address it like
this for somebody that's maybenever bought a property your
parents probably bought theirthe house that you grew up in
your home through a realtor onmarket.
Uh, the idea is like you'regoing to pay what's called

(07:43):
market value, so you're're goingto pay a little more, but the
condition should be really good,listing ready, right.
Like there really shouldn't bemuch post-purchase rehab.
You need to do that aren'timprovements?
Which is great.
I mean, when I want a primaryresidence, I'll probably buy
whatever through realtors, fine.
But what you're not getting isthe discount, right.

(08:03):
And how do you get a discount?
Well, you remove the middlemanand not to be harsh but you
can't list certain propertiesbecause the condition is
terrible.
If you had a waterline breakand there's big holes in your
ceiling, no realtor is going tolist that.
They're not crazy.
As a seller, you go, man.
I think I'll take a little lessto move on.
That's where you can get yourdiscount.
Is that that relationship rightthere and that's what WDP

(08:27):
excels in.
So the idea is like, instead ofbuying it through a realtor,
I'm going to work with an offmarket partner like WDP and to
sweeten the deal Instead ofclosing with.
I ended up closing with hardmoney, then refinancing out
because I didn't get anappraisal order soon enough.
But what these guys will do,they'll say okay, you got this
property, we're investorfriendly, we're looking to grow,

(08:49):
like there are certain bankslike I know from back home.
There are a few banks in myhometown that they love working
with investors and there's otherbanks that just aren't quite as
interested.
So this bank said we'reinvestor friendly, we've done
this before, we're verycomfortable with you.
Know.
Let's say you get approved forour financing, we'll actually
close on the property and we'llget appraised before you even

(09:13):
close.
And so instead of lending youoff of, let's just say, let's
say it's like 75% down thepurchase price or whatever, the
all-in price, whatever They'lllook at, the post-construction
ARV, so you give them your scopeof work.
A third-party appraiser walksthrough, the bank lends off that
number.
So I'm bringing 40% less toclosing.
And if you say, hey, mr PrivateMoney, that's where, again,

(09:37):
you're all in.
If you have a really goodprivate money lender, you're
probably not paying more than$100, $200 a month on that more
or less gap and you haven't evenstarted construction yet and
you're about to own the assets.
This bank was saying send theappraiser in, get the ARV lend
off.
That lowers everyone's downpayment.
You're going to pay a littlemore in points, you're going to
pay a little more in interest,but it's like you can either

(09:59):
pinch pennies and try to squeezeout a deal later and you can be
Mr Good and Done, and that's mymantra right now.
I'm trying to be good and done,so that's how that deal worked.

Speaker 1 (10:07):
Yeah.
So just to recap what you saidthere, wyatt, you used a hard
money lender to close it becauseyou got the appraisal order too
late.
So this is important, guys Ifyou're working with community
banks or commercial lenders, yougot to get them your stuff
right away.
So usually what happens theprocess is, if you haven't
worked with a community bank orcommercial lender, you get them
all your W-2s, your tax returns,all that information that they

(10:30):
need.
They sort of pre-approve you,right, and they say, yeah, go,
hunt, go out there, hunt, find adeal, right.
But then when you get in thedeal, then they really have to
get all of your stuff Like.
Then it's like, okay, now wereally have to underwrite you as
a person.
And when you're working withinvestment properties, a lot of
times time is important.
So a lot of the community bankssome of them can get it done in

(10:54):
30 days Most of them are goingto need at least 45 days to
close all these deals.
So when we're locking deals upand we put it out to our buyers
list, a lot of times we knowthat and so we're trying to get
those longer close dates for youguys so that you have the
opportunity to work with thesecommunity banks because they're
going to be cheaper than hardmoney lenders, right.
But the problem is, if youdon't get in the stuff in a
quick fashion, your timeline maynot meet up with the close date

(11:16):
that you have to meet up, andyou still have to perform, and
you know.
So why.
About that?
That's a really important thing.
I think a distinction that youmade is you had a hard money
lender as a backup and so ifthat timeline didn't work, you
still performed and you did whatyou said you were going to do.

Speaker 2 (11:34):
Exactly Now I'll even add the recall that kind of
tripped me up.
I had all that already squaredaway.
That was all done within.
Like I was, we were workingreally quickly to get the bank
I'm working with is great, Imean they're turning it around
quickly.
But what I didn't realize isappraisers have been known to
not show up and so for me it'slike I had all my pre-approvals,

(11:56):
I was fully approved.
I mean we were ready to go, weordered that appraisal like
probably two weeks later than wecould have and the idea being
okay, about a week to get anappraisal done, but we had an
appraiser no show and it pissedthe seller off big time and so

(12:16):
internally, you know, kind oftaught us a lesson about our own
process.
But as a buyer I said, man, Ibenefited absolutely nothing not
being aggressive and managingthis relationship with my
lenders and and trying to getthe appraiser out there sooner.
So it's like even if you'refully approved, you're
pre-approved, you actually getapproved once you get these
purchase documents andeverything squared away and
you're about, you're closing inthe coming weeks or month or so,
just something that I thoughtan appraiser would be faster.

(12:39):
But dude, it's someone, it's athird party you can't control.
Don't be surprised.
It's like the cable guy theyshow up, they don't show up.
And we worked with an awesomeappraiser after that.
So but the idea of being, likeyou said, man, just play
aggressively on the front end,don't leave it to chance.

Speaker 1 (12:55):
Yeah, like that particular one I think.
They told us they were going tobe there at like five o'clock
and they showed up at like seveno'clock on a Saturday night.
It's like, yeah, crazy, nocommunication, that they were
not going to make it on time.
It's like just communicate,it's like basic stuff.
But appraisers, they're toughman, there's not a lot of them,
so they kind of can just I meanthe bar's pretty low for quality
of service there, right, and sofor sure some things that you

(13:18):
and I think are pretty basic.
uh, show up when you say you'regoing to show up.
If you can't make it on time,just at least communicate that.
And those are some pretty basicthings and they don't
necessarily always adhere tothat, I think.
Going back, wyatt, just totouch on your point about maybe
being a little more aggressivewith the appraisers, one thing I

(13:46):
found, as well with a lot ofcommunity banks or commercial
lenders is they'll have greatprograms like really awesome
financing options and thingsthat you know you're typically
like your credit unions aren'tgoing to have, or definitely not
like a Wells Fargo or a ChaseBank or something.
Those guys are never going to begreat for purchasing on the
front end of real estate if youwant to utilize the burst
strategy in any way.
But you got to stay on top ofthem in like the most, like the
most nice, non-annoying waypossible.

(14:07):
You gotta be like.
You gotta tiptoe right like howdo I still maintain a solid
relationship with my banker?
But also not annoy the crap outof them, but not just sit there
and expect that they're doingbecause they're getting hit by.
I mean, you can think about howmany people are communicating
with them in a day.
So you gotta yeah for understandthe squeaky wheels, gets the
deals right, and so you got tobe on time if you want your deal

(14:30):
to close on time and stay ontop of these lenders in a lot of
cases, but absolutely so.
Now you've got four deals, soyou've closed on a few here.
So you got the one in Arizonafor a while ago.
That was a house hack right.

Speaker 2 (14:46):
Then you rented that out by the room, correct?
Yeah, by the room.

Speaker 1 (14:49):
It functions like a five plex, but it's a five bed
okay yeah, and then what madeyou I mean other than working
here, because you were alsolooking at investing in
mississippi, right, uh backwhich is again probably a much
more affordable price point,probably similar to Northeast
Wisconsin.
If I had to guess, what madeyou choose Northeast Wisconsin,

(15:13):
Besides just working for thecompany?
What was it about this marketor this area that you said?
You know what?
That's where I want to put mycapital to work.

Speaker 2 (15:22):
Yeah, good question.
I mean, man, I grew up inMississippi, I love it.
I'm from madison, which isoutside of our state's capital,
jackson um not madison,wisconsin, madison, mississippi,
which is like a great place.

Speaker 1 (15:38):
You have kind of an accent.
Oh yeah, madison wisconsin do.
Yeah, you're very similar totheir accent.

Speaker 2 (15:43):
I'm totally wow, no, I was wow.
I was going to say, man, Isound like cornbread, I'm pretty
sure.
So, yeah, I mean man, you knowsome of the things.
Like it's home, I love it.
I think there's a lot of greatopportunity.
It's a little more, I mean,it's like anywhere else.
You got to buy the right area,I think.

(16:06):
For me, though, you know I'mfrom Madison and we drive to
Jackson every day for our niceprivate school.
I spent my whole life in Jackson, and you know the bottom line
is the I'd say the localgovernment there is terrible.
The city is decayed, right Top10 murders.
I mean, it's a bad deal.
We don't the drinking waterain't clean.
We went two months withoutrunning trash in Jackson.
You know this is back in 2020.
They're trying to solve otherissues that obviously ain't
clean.

(16:26):
We went two months withoutrunning trash in Jackson.
You know this is back in 2020.
They were trying to solve otherissues that obviously weren't
issues.
But, that said, you have a lotof people and a lot of wealth
that have left Jackson, and soI'm looking at my buddies that
bought rentals there and they'redoing fine, I'm sure, because
they probably bought them superdeep.

Speaker 1 (16:39):
Sure.

Speaker 2 (16:40):
But you're not going to play the appreciation play
ain't where it should be thereBecause, again, that honestly
it's a cool town.
There's a lot of greatopportunity, great neighborhoods
that have been ruined by theactivity there and so the
suburbs are great or whatever.
But I see in Wisconsin it'slike you don't run into the
stuff you run into inMississippi and, honestly, it's

(17:04):
just easier transaction.
Like the problems we dealt withwhen I was in Jackson,
mississippi sending guys onappointments.
It was like should we tell themto?
Like you know, like should theygo to this neighborhood?
We skip, because they don't.
Their safety is a real thing inWisconsin.
I know you can get into someareas in Milwaukee, I'm sure,
but again, northeast Wisco, it'svery homogenous.

(17:26):
What you're getting, it's great, people are very calm and for
me I like that.
It looks like an appreciationstation for me, because I've
always heard Robert Kiyosakicash flow and that's good, but
you know, what's better isappreciation, because I've kind
of settled like man, until someof these assets are paid off,
the cashflow may not bephenomenal, but if you have

(17:47):
someone else paying down yourdebt for you and it's
appreciating I learned thatlesson out here 5% on $550,000,
$20,000, man or whatever it is,I don't know, you know what I
mean so yeah, it's kind of what.

Speaker 1 (17:59):
I see in Northeast Wisco Nice man, that's awesome.
Yeah, I've kind of coined mylittle phrase.
I'll probably get some t-shirtsmade up, maybe with Wisconsin
investor on there and we'regoing to create a little
trademark called the wealth cone.
And that to me, is the uh, oneof the major benefits of
investing in real estate ingeneral, especially if you have
appreciation in your market.
And the beautiful thing with usin Wisconsin we don't get those
really big highs or the reallybig lows right.

(18:22):
Like we're going to be prettysteady at ease.
You're not going to get superrich overnight from appreciation
, like some of the you knowWestern States or the East coast
or some of those things.
But also, when things tank,you're not going to lose really
either.
Like big you know eight peoplelost here.
Property value definitely dipped, but not nearly as much as you
know Seattle or Tampa or youknow Austin or some of the other

(18:48):
big markets, right, so it stayspretty consistent uh, up or
down, but you're getting, likeyou said, typically on average
we're four to five percentappreciation here.
Some years, like I think wewere double digits for like
three years in a row ofappreciation, which is just
phenomenal when you own an assetlike that of these big, which
is just phenomenal.
When you own an asset like thatof these big dollars and when
you didn't have to pay for it,necessarily right, because

(19:10):
you're utilizing the birthstrategy.
Now you might have some moneystuck in some of these right
After you refinance, but it'snot going to be your 20% down
plus all the rehab, right.
So now your velocity of money,your return on your capital, is
going to be much, much higherbecause you don't have as much
capital stuck into these things,right.

Speaker 2 (19:27):
Well, you said something that hits on something
I had to figure out when Ibought this first deal through
Tempe so it'll be a total offive doors and I realized I had
a really good realtor.
He got me all the full sellerconcessions or whatever it is.
I had no closing costs, whichwas huge, yeah, and I ended up
buying it for us let's call itright.
It was like 550.
And in hindsight it's like, oh,probably could have gone 20K

(19:49):
less, but you look at what thatdoes to your monthly payment
versus what 20K does to yourcash reserve, yeah, so I started
to relearn quickly.
Man, if I can figure out a wayto keep myself light in terms of
how much cash I have out, I canplug a lot of gaps pretty
quickly.
If something goes wrong Inexamples like you mentioned, or

(20:10):
if it jogs something for me, Iwould rather pay a little more
interest right now in privatemoney, or even hard money if
necessary, because if I were tofund that, it might be 30% of my
account, but if a private moneybrings it up, I may pay a few
grand my account, but if aprivate money brings it up, I
may pay a few grand.
So that's something I'mrealizing is like I have this
great cash reserve in a highyield savings account that sits

(20:32):
there and I can dip into it whenneeded, but better for now,
because I want to grow, betterfor now to leverage other
people's money as much aspossible and keep that cash on
hand for rehab, to say liquidbecause I'm being reimbursed by
some of these banks.
As long as I have the cheddaron hand.

(20:52):
I'm constantly getting it back.
It might take two weeks, butwhen you have four flips going
at once, which is going to bethe case probably here, in about
a month and a half I shouldhave some of these done.
I think I'm going to want thatcash on hand, if that makes
sense.

Speaker 1 (21:07):
Yeah, and I think that's a really important point.
If you have liquid cashavailable, you can be a lot more
.
What's the word?
I want to say?
Mobile, but I don't thinkthat's the right word for it
Agile.
Agile, maybe you can be a littlebit.
So you had an example where youhad a deal come up.
Now I think I think you found aprivate money lender for this

(21:28):
deal in Marinette that you endedup buying.
Had that private money lendernot been there, you could have
closed on this thing super quickwith cash and then just started
to refinance it with one ofyour community banks right away.
Right, and, and.
So it allows you thatflexibility to be able to just
like strike on a good deal, getyour cash back, strike again on
a good deal with your cash, getyour cash back.

(21:49):
But if you don't have the cashor you don't have somebody that
has the cash, you become reallylimited on the opportunities
that you're going to get.
You're missing out on a lot ofopportunities, right, and a lot
of opportunities.
My gosh yeah, yeah, talk aboutthe private money lender.
So you said you went throughabout 10 to 15 people.
What do you?
Think were some of the things,some of the things you've
learned.
You said you've sort of got alittle bit of a I don't want to

(22:15):
say pitch, I don't think you usethat word, but that's kind of
what I heard A little bit of apitch going now with the private
money lenders.
What were some of the lessonsyou learned as you started to
pitch private money for thefirst time?

Speaker 2 (22:25):
Well, first of all, it's not an ask, it's an
opportunity, because I'm notlooking for it.
Jay Conner, are you in the roomright now?

Speaker 1 (22:35):
I'm so serious, like the Southern guy just resonated
with me.

Speaker 2 (22:38):
but it's so true, like you're not asking for
anything, you're inviting theminto an opportunity.
I've learned it goes one of twoways.
There's always there's.
There's got to be at least twocalls.
There can't be any less.

Speaker 1 (22:51):
Okay.

Speaker 2 (22:52):
Desperation has a stench.
I've heard you say this.
I couldn't agree more.
So I would call them.
I have one of two talk tracks,just because it's good to have
your own process.
Hey, mr Friend, how's it going?
Yada, yada, let's catch up,shoot the breeze.
Well, brother, here's why I'mcalling.
I'll cut to it.

(23:14):
My own real estate investing haspicked up a lot and there's a
speed at which things are movingthat I'm looking for partners
to come alongside me and I maysay look, here's what it is, and
you go the education route, ok,or this is typically the easier
one.
So, hey, man, I'm looking forreferrals for people that want
to make.
I'm paying 10 percent right nowthat people who want to make

(23:35):
eight to 10 percent on theirmoney, fully backed by not only
a first position mortgage noteor second position mortgage Now
I only get to the point positionthat was backed by a mortgage
and backed by insurance.
So if you know of anybody whohas maybe some cash sitting
around or they're looking togrow their funds without doing
more than wiring money, pleaseconnect them with me.

(23:55):
I'd love to tell them more.
Well hold on now and that's thedirection I always take it.
With immediate family members,I just say, hey, this is what
I'm doing, here's how it works.
I want to involve you, I wantto put your money to work.
Is that something you'relooking to do?
Because they may say, yes, butI'm selling my house and my
HELOC is going to be off thetable in three months.

(24:17):
Or they may say yeah, but yada,yada.
But man may say yeah, but yada,yada, but man, I am all for
that Because I'm prospecting,I'm looking to connect and grow
my network.
But it's funny what thatinvitation does.
Hey, who do you know, wants tomake 10%.
Everyone wants to make 10%.
Let's say we work it out.
Well, brother, I'm so happy foryou because I'm looking for

(24:37):
amounts between $50,000 to$350,000 at a time.
If you tell me your range, whatcan you do?
How?

Speaker 1 (24:47):
much are you looking to earn when you lend money?

Speaker 2 (24:48):
Do you have a dollar amount, because I've given you
my rate.
Do you have an amount whichyou're looking to make on
interest, because we can put itto work fat?
Whatever, and they'll tell youall the details of what they do
or don't know, great man.
Well, I'll tell you what I'mgoing to jot you down for having
this much to this much outliquid at one time.
And when opportunity rollsaround, you'll get a good news

(25:09):
phone call from your old friend.

Speaker 1 (25:10):
Wyatt Wow, dude, that is straight.
I think I just heard Jay Connorcoming through that buddy Like
that was straight out of.
Jay's mouth, it's almost manyeah, that was great, that is so
good.
You're trying to raise privatemoney.
Go back and replay the lastminute or two of that, because
that is, that is pretty dialedin, pretty enticing.
You know, one of the thingsI've always taught, and in the

(25:32):
bird course that we talked aboutat the start, this is a.
This is a section raisingprivate money in there, and one
of the things we talk about isit is an opportunity.
You are are not asking foranything, you are giving people
an opportunity and that takes alot of the pressure off.
I did network marketing for fiveyears or whatever.
I was asking.
I had an opportunity, butpeople knew it was stinky.

(25:53):
They were like man, this guykind of stinks, he's trying to
sign up for this scam, whatever.
When you're raising privatemoney, it's totally different,
dude, and you literally are.
You have to believe in whatyou're selling.
Anytime you sell anything,you've got to believe in it or
they will see right through it.
And I truly believe you arereally giving people an
opportunity.

(26:14):
If you know you're a goodperson and you're going to pay
them back, no matter what, youhave no reason to feel any sort
of shame, anxiety, whatever.
It is about asking Now it'salways uncomfortable the first
couple times you do it.
It's a muscle.
You got to work that muscleright.
You got to ask enough people.
The other thing that I loveabout your approach and this is
something I've always taught aswell is it's like the indirect

(26:35):
ask.
You're not asking them toinvest, you're asking who do
they know that would want toinvest.
And indirectly, I think I kindof cut you off there a little
bit, cause you were about to,you're about to role play that a
little bit, where inevitablythey typically want to know more
, right, they want?
Hey, I want to invest in thisand I don't want you to talk to
my buddies like use my money,right, it's just sitting over

(26:57):
here in this little high yieldsavings account making three and
a half me ten, come on, man,right, what has been some of the
?
Now that to me sounded great?
What are, what are some ofthese objections that you're
getting now?
Because to me I'm like man, youshould have money rolling in
hand over fist with a littlesales pitch like that what's
been the?

(27:17):
What's been some of thepeople's objections and what do
you think?
Uh, maybe we can talk throughsome of those on here, maybe
some ways we can kind oftroubleshoot for you.

Speaker 2 (27:27):
Well, some of them are, you know, because some of
these guys are.
They're not investors from ournetwork, but they're family
members that have been verysuccessful in real estate.
And they said, well, if I'mdoing that, then I want to be
part of the deal.
And it's like oh okay, soyou're going to come up here to
wisconsin, get all yoursubcontractor so, and that I.
And it was like I love you, Ilove support you, but, like,
when I'm putting that much moneyout, I typically want to be the

(27:48):
on title and on d, which Itotally understand.
Um, and also, if they're doing alot of deals, then they they
need to keep doing that.
It's kind of like then then goout and do more deals.
Like, we may not be the rightfit right now, it doesn't mean
we won't be later.
When you get tired of swinginga hammer, yeah, um, something
else that comes up.
I've learned that there tendsto be an interest in it, but not

(28:11):
right now, or it's just like ah, I just don't know enough, and
so it's typically a knowledgegap when you don't get your
answer?
um, because I'm working.
I'm working with people thattrust me highly, and so I'm
trying to suss out when to goheavier.
On the education piece, I wouldjust say it's typically I
either want to do the dealmyself totally get it, you know,

(28:34):
go do more deals yourself orit's like I would love to.
But here's my situation, andthe HELOC is a good example.
Another one might be yeah, well, man, we're selling a few
property right now.
There's too many thingschanging right now.
Call me at a later date so youcan schedule your follow-up.

(28:57):
I've heard those too.
It's typically something abouttheir life or lifestyle, or, if
they're interested in it, theywould prefer to do the deal
themselves, which again.
I totally understand.

Speaker 1 (29:07):
Yeah, what I've found , that's great, man.
What I've found is, when I'mraising private money, it's
rarely from somebody who investsin real estate where I get paid
, because, like you said, ifyou're a real estate investor
and you're active in thebusiness, 10% isn't, isn't great
, right, like you should be ableto earn a heck of a lot more
doing your own deals, and so alot of people who are in this

(29:28):
business know that right, andthen they understand that.
I have raised private money frompeople who have done some real
estate and then they were kindof like, ah, I don't have the
time to really do it.
I understand it, I know it.
It, I know it, I like it.
Yeah, 10% sounds really good,or 8% or whatever it is.
You know that you're offeringit's rarely, if ever, been from

(29:51):
somebody who's actively pursuingtheir own real estate ambitions
.
So if you're out there listeningto this and you've got some
people and you're like, oh, theyknow real estate, they do real
estate, I'm gonna go ask themGreat, get some reps.
I'm not saying you shouldn't doit and you, maybe you'll get.
You've got some cheddarssitting around that they know
they're not going to be able todeploy, uh.
But you might find more successwith people who are maybe more
so used to like a stock marketthing or whatever and how the

(30:13):
approach they are.
A lot of those folks have seenright now, as time we're
recording this market's buzzing.
It's been going, going up, up,up, up, up, up, up right For
years, but a lot of those peoplehave experienced the
fluctuations of one tweet andbam, they lose 20% like that,
and now they got back to gainanother 20% just to get back to.

(30:34):
even this is a flat eight to 10.
There's no dip then back up,it's just straight.
Eight to 10% is 10% is whatyou're offering, and there's
some legalities around it.
So do your research.
Talk to some attorneys.
I'm not an attorney, I'm not afinancial advisor Disclaimer
here but this is what we've donein the past and it's worked
really well.
But again, I think what you'redoing.

(30:56):
The other approach here, too, Iwant to point out is you've
talked to maybe what'd you saylike 10 to 15 people so far.
Yep, yeah, that's sales.
I mean, you're 100.
You're planting a lot of seeds,buddy, and they all grow at
different times, right?

Speaker 2 (31:11):
100.
It is at the end.
There's man, there's an oldmovie, um, it's got like jeremy
irons in it, kevin spacey, I, Ithink, bj Novak, and it's about
the stock market crash.
And the guy looks at him andsays we're all salesmen, man,
and it's these big CEOs and Ithink about that, we're all in
sales, man, I sell ops every day.

(31:32):
I sell tech every day.
I sell buy-in, I sell processevery day.
Sales is effectivecommunication and something you
believe in that adds value.
So, yeah, I lean into it.
It's a whole heck of a lot offun when you can start to build
your skin up a little bit,because, man, I did a lot of
sales by way of my old job justbecause it needed to be done,

(31:52):
and I'll be honest, man, there'sa thrill of a hunt.
I know.
You know about that.

Speaker 1 (31:56):
Oh yeah.

Speaker 2 (31:58):
But I am far from a professional salesman and I like
the idea of you know saying I'mgoing to take a shot at this
and if it works out, itseriously feels like you just
killed a big deer.
I mean it's awesome.

Speaker 1 (32:07):
Yeah, exactly For sure.
So, yeah, I think I think whatyou're seeing here, guys.
One point I wanted to make tothat is if you've talked to two
people and they both told you no, you got to just keep going.
It's like that old we've allseen that meme or whatever it is
of like somebody with thepickaxe and there's the diamonds
, just dirt Right and they justgive up right before they make

(32:28):
that last swing to hit thediamonds.
It's kind of the same thing,like any kind of sales.
Again, face it, if you'resitting there going I'm, I'm
you're identifying as not asalesperson and you're
immediately you're turning Wyattand I off right now and you're
going on to the next.
And you're immediately turningWyatt and I off right now and
you're going on to the next.
Don't right, we are allsalespeople in some way or
another.
Like you got kids, you'reselling every single day on your

(32:50):
kids of why they should listento you, why they should eat the
certain foods you want to be,why they should clean up their
room.
You're selling, right, we allsell every single day.
And so you know, if you identifyyour identity as I'm not a
salesperson, I can't do this.
Well, you're putting yourselfin a little box and you're
absolutely wrong.
I'll just say that right here.
I'll make a bold statement.
You're wrong because you sell,we all sell every single day,

(33:13):
and so it's just about reps.
It's about enough people youtalk to and really it could be
the key to changing your life.
I mean, I think about, like whywhat you're building right now,
just these four properties thatyou've, that you've gotten in
the last what two months?
I think you kind of gone in thelast two months.
You know if you hold thoseproperties, some of them you
might flip, but if you holdthose properties, man, in five
to 10 years, then you're goingto be over a millionaire in five

(33:36):
or 10 years from four dealswhich is insane, it's insane, it
is insane, it's insane, it isinsane.
The movie's called margin call.

Speaker 2 (33:46):
By the way, it's a great movie.
I had to look it up, okay, um.
But no, yeah, it's like I hadto go from thinking about cash
flow to appreciation.
Because, again, you know, aslong as it's covered, as long as
the debt is serviced and it'scovered and you make a little
bit on top for repairs orwhatever, one day those, you
will snowball your debt andyou'll pay off the cheapest
asset, then pay off the, or payoff the smallest loan amount and

(34:07):
next smallest loan amount, etcetera, et cetera, and you're
going to actually create realcashflow.
But the whole, the magic to thisis someone's paying your debt
down for you.
I'm not being taxed on debt,correct, you know what I mean.
And Correct, you know what Imean.

(34:40):
And to your point, it's like Ilike OK, you know, am I getting
the one percent rule and rentMeaning?
Am I getting one percent of myall in calls to get this deal at
least?
And it's like how much equityam I forcing?
How much equity have I builtfor myself in the last two and a
half months?
It's probably more than in thelast three and a half years.
You know, yes, it's fantastic.

(35:02):
Three and a half years, youknow that's amazing.
Yes, it's fantastic, and a lotof that is all from, honestly,
your education and your pushingof us to make similar decisions
that you made and you've beenlike you've seen abundance and
balance and about the fullnessof your life from it.
That kind of motivated me.
I'm like dude cory just wentout and did it.
I just I've been working herefor a year and a half and I
don't even like look at all thedeals.
I start looking at the dealsand I'm like God, why didn't I

(35:24):
start doing this sooner?
So, sometimes God just does thatman Like he will, he will, he
will put your attention on towhat he maybe wants it or maybe
you need to get it off somethinghe doesn't want it on.
Yeah, and on the other side ofthat door that seems closed,
it's actually unlocked.
It's like a new room full ofnew people and new opportunities
.
So, yeah, a lot of it has beenhearing your story, hearing how

(35:46):
you coach guys on the team,coach me, and after doing the
Winford deal, I was like thismakes so much more sense now
Like I should actually not do.
I should probably.
I should do conventional andprivate and I should do private
and I should do private andseller five.

Speaker 1 (36:00):
Four deals.

Speaker 2 (36:01):
They're all different .
Buckets of money is how I hearyou talk about it.
Yeah, and I'm just pulling fromthese buckets, man.
It's that cut and dry.

Speaker 1 (36:08):
Yeah, I think I want you to talk about that a little
bit.
Why?
Because when you bought thatfirst duplex here in Green Bay.
So not talking about yourScottsdale one, but the most
recent one.

Speaker 2 (36:15):
Yep.

Speaker 1 (36:22):
I light bulb, like almost, I think.
Physically I maybe saw a lightbulb come from your head, but at
some point there was a littleswitch that happened.
And now you you went like, allright, I'm going to get a deal
here by the end of the year.
Whatever your original goal wasRight.
And now, like you got that, yougot that deal.
And then it was like, oh, sowhat was it about getting that
first deal?
Like that triggered you to gofrom like nothing to now you've

(36:43):
got four of them in process yeah, man, um, within two months.

Speaker 2 (36:48):
Within two months?
Well man, I'll be honest, likeI was able to run numbers and
figure out how much I'd have tohave out of pocket to buy the
deal with the realtor.
But once I did the deal, Iunderstood it front to back.
And you know, maybe I'm justnot studious enough, but I had
to execute a deal.
And once I closed on Winfordand honestly walked through it
for the first time, I was likewait, this makes sense, there's

(37:10):
a way I can do this withoutusing all my money.
And I think the light bulb onceI figured out.
I think refinancing isimportant.
Once you get it, it'sunderstood, you don't have to
think about it again.
But until you actually get abanker on the phone, let's say
you're working with your bank.
And Andy Ickey is the man Imean.

(37:32):
I told him up front hey, man,I'm a new investor, you're going
to have to answer a lot ofquestions.
He's been phenomenal to workwith, but I had to get him.
And Aaron Kramer was anotherguest of your podcast.
Who's?

Speaker 1 (37:42):
phenomenal as well.

Speaker 2 (37:45):
He's a mortgage broker.
I think I had to like say hey,man, I'm going to walk through
what refinancing looks like andyou need to tell me where I'm
wrong.
And these guys.
I mean, they're great guys, theyhelp you out.
But one day I was like, yeah,man, and I was like done, this

(38:10):
makes total sense.
The money isn't contracted tostay working, it's lending, it's
financing.
So I think that was it whenthat light bulb clicked.
It clicked for the deal I'veworked out.
It's like, as long as I executethe scope of work, I can
refinance instantly.
And that is what clicked for me.

(38:36):
It's like, oh, I get it andI'll stay in a little bit more
expensive money in the shortterm to get the deal done, maybe
even get it all reimbursed inprivate and then refinance out.
And what do you call somethingthat you have zero dollars in
but it makes you money?
We call that an infinite return.

Speaker 1 (38:53):
It's an infinite return.
Yeah, you know I love myfinancial advisor friends, but
when I break this down to them,their their heads explode when
they see the math on it.
They go wait a minute.
What?
You're getting a return onnothing.
You have no money into it ofyour own and it's producing
income for you, how you have nomoney into it of your own and
it's producing income for you.

Speaker 2 (39:13):
How is this possible?

Speaker 1 (39:14):
Right.
It's fascinating what I want tomake, a point to the audience,
to what you're describing here,why it is community bank that
you're working with, right, andI think this is an important
distinction, because right nowI'm actually going through doing
a burr process on one of that Ibought as well in January, so I

(39:38):
paid cash for it out of mypocket.
Actually, I use the cash valuelife insurance policy that I
created a while back.
It's kind of a I don't evenknow how.
These again, my financialfriends, my financial advisor
friends, love you guys.
I use the product of theirs.
You put money into it everyyear and you overfunded it's
called, and then you can like,pull loans from it and then you
keep earning your interest in it.
So it's a loan from the policy,not from the place, and then

(39:59):
your policy is still earning itsdividend or its interest, right
, so I'm using that right now.
So essentially, it's likeinterest-free for me to use that
because I'm paying, I have topay the loan back, but the
policy keeps, keeps, you know,accumulating cash, um, anyway.
So I did that, I just wentthrough and I talked to like

(40:20):
four or five different lendersin the last day and a half,
right, and I'm getting quotes,and this is the other part I
talk about get your stuff out toas many lenders as possible.
If you're going to send it out,just send it out to a bunch of
them, build relationships with abunch of them and then shop
them when you're ready to do adeal.
And they all have littledifferent niches and different
things that they do really well,right, and so for this
particular type of deal, I'vegot a credit union.

(40:42):
Now, again, I don't really usecredit unions very often because
they want that seasoning periodand you got to fit in these
boxes and it's very like they'revery conservative, but you're
going to get great rates, likethey'll have the best rates of
anything out there, right?
So typically, if I'm going touse cash and then go refinance,
I'm going to hit those guys upfirst, right, well, the problem

(41:03):
is with those guys is, I thinkthey want like a 12-month
seasoning period on it orsomething like that.
Yeah, so I'm like I don't wantto let my money sit here for 12
months, right, yeah, I'll justpay a little bit more in
interest and I'm gonna go to oneof my community banks who
doesn't care at all aboutseasoning, like you can
literally, you literallyrefinanced after that first deal

(41:24):
.
Within two weeks you wererefinanced.
That's true, right.
And so people who are out thereand you're working with, like in
our area, capital credit unionsa popular one, um community
first, fox communities, creditunion all great, all great
credit unions.
But again, you got to knowtheir role right.
Their role is great for whenyou have a stabilized property,

(41:45):
not a value add property, greatpeople to go to.
Right, you're going to put 20%down, Like I had one I bought
with 1031 money, put my 20% down, bought it and I used a credit,
a credit union, to finance it,cause I had the best rates out
there.
But when I'm going to refinancesomething quick, I'm a boom,
boom.
Try to get that velocity ofmoney working.
I'm going to work with mycommunity banks Most of the time

(42:07):
because they're going to havethey're going to have the
competitive rates.
They don't care about seasoningperiods and all that sort of
thing.
So I think that's a reallyimportant distinction.
You know I've talked to enoughinvestors here in Northeast
Wisconsin over the years that Ithink that's a big roadblock for
them is they think they got toleave that money sit for six to
12 months and it just meansthey're not talking to the right
lenders.
That's all it means.

Speaker 2 (42:29):
Cannot agree more.
You made a point too I don'thave a clever saying for this
but, man, if you got one handthat's willing to feed you and
that hand closes up, you'rehungry.
You should have three differentbanks that do the same thing,
because those rates change.
So, yeah, that's something thatyou had mentioned and I'm glad
you did, because I've reachedout to three of them four of

(42:51):
them and I kind of got my fixedrate guys.
Now I have my guys that will dothe more short term projects
and I'm going with the one thatI prefer to work with the most
right now.

(43:12):
But that said, yeah, it's likeyou know, if you have one person
that you shop your mortgagewith, maybe that's a little
easier because they're brokersor whatever, but if you're
working with a community bank,their vision or their mission
may change and they may notoffer all the products all the
time.
So it seems to be a really goodidea to have the relationship
set up with more than one, toget pre-approved by several of
them just as soon as possibleand have a vague idea of what
they offer.
Yeah, and that seems to besomething that I think you
shared with me, that I'm reallyglad you did so that you're not

(43:33):
dependent on one source of ofdebt, if that makes sense.

Speaker 1 (43:37):
Correct.
And here's the other thing,guys that are listening to this,
there's a loyalty Some peoplehave and I'm I'm very loyal to
the people that are loyal to meas well.
And you can kind of get stuckin that trap with lenders
sometimes where you feel like,ah, I got to give them this loan
because they helped me out onthis other loan.
They understand it's a businessguys, they're bankers, they get

(43:59):
it Like I just actually Andyfrom Key Savings.
So if you guys don't know KeySavings Bank, andy Vidal, great
guy, if you need his contactinfo, you can hit us up here.
We're happy to share it withyou.
But he was a point higher thanwhat I got quoted from another
one of our community banks and Ijust told him this hey, man,
appreciate you sending that over, but I'm probably not going to

(44:19):
refinance this property with youbecause you're a point higher
than what I'm getting right now.
And we talked back and forthand we're getting a great rate
quoted for us in the currentindustry environment and we just
had a little good conversationback and forth about rates and
he's like man, if you're gettingthat rate, go for it, dude,
that's great Good for you.
So he's not going to not quoteme out on the next one or not
want to do the next deal.
So it's an important point thatthey understand Shopping around

(44:43):
to a bunch of different peopleand just build the relationships
.
It's just about do they want towork with you?
That's the other thing withcommunity banks.
If they don't like you, theymay just quote you really high
and not like, yeah, they're arelationship-based bank.
You go to Wells Fargo.
They have these boxes.
They have to check of yourincome, your W-2s, all these

(45:05):
documents you got to send them.
You could be the biggest jerkin the world and they don't care
.
They're going to check theboxes, they're going to issue
you the loan.
You work with community banks.
You know I had one lenderyesterday offered me a big old
line of credit just out of theblue.
He's like hey, man, we werelike working with you, we
appreciate your business.
Would it be helpful if weoffered you, you know, a couple
million dollars line of credit?
I'm like, oh, yeah that wouldbe great.

(45:28):
Let's do it, but it's because ofthe relationship.
So I think that's important forpeople out there as well, with
these community banks, to knowis like don't be a jerk, build a
relationship.
If you're not going to workwith somebody, that's okay.
Just don't be a jerk about itand just get well, put Right,
absolutely, wyatt.
Last thing I want to get intowith you here before we wrap

(45:49):
Talk to me a little bit aboutsome of the challenges of
investing from afar, and thenwhat are some of the things that
you're doing that you thinkhave been helpful?
Again, it's pretty early inyour out-of-state investing
career, but talk to me about,like, how did you get to this
point Because I know there'speople out there that listen to
this that are not here inWisconsin and so what gave you
some confidence and what aresome of the keys you can give

(46:11):
people that are sitting outsideof the old Wisco borders, that
are looking to maybe put somecapital to work here in this
great state?

Speaker 2 (46:19):
Yeah, good question.
I think that something I'mhaving to learn in my
professional life every day,working with yourself on top of
investing, is, if you're doingit all yourself, you're the
bottleneck.
Look man, I'm trying to buildscalable systems in my rental
portfolio, just like I do everyday at iBuyWi and WDP.
Look, I walk through Home Depot.

(46:39):
I look at all the good exampleappliances.
I see GE, frigidaire, samsung,some other name brands, maytag,
whirlpool, and in my unit hereeverything's Whirlpool.
I can get parts and replacethem, do it myself if I need it
as the homeowner.
And I'm looking around allthese products and I'm like,

(47:00):
look at them, whirlpools,they're scalable and they know
it.
So I'm going to put the sameappliance in all my units.
I'm not going to leave it up tochance to have a dated fridge
that has a random brand.
Um, I think for me the challengeI've ran into, like I mentioned
, is I kind of flipped my househere.
I keep thinking, oh, I can justdrive the lvp up to marionette.

(47:23):
Or I keep thinking, oh, man,like I'll get in there, I'll do
some of the paint, and I show upand I'm like I don't want to do
this shit, man.
Yeah, and honestly, it's achallenge for me to let go of
the vine.
But, like, why would I go toscratch and dent carry only when
I can pay $150 more, get itdelivered to the property, get
it installed in the property?
And I just bought back my time.

(47:44):
If my time's worth $600 an hour, five, whatever it is I'm
looking to save a buck 20, I'mgonna, I'm gonna die broke that
way.
So for me it's like buildscalable systems.
Um, again, it's like I think theappliance thing's really
interesting, just like the lvp.
Like, buy the same brand or buya similar product on all your
properties.
Your installers are comfortablewith it, they work it with

(48:06):
their hands, they know whatthey're getting into.
You get the same quote.
Um, so just try to buildsomething that's scalable.
I think that is yeah, I mean,do it in Wisco man.
Like, again, the communitiesare great, our suburbs here are
fantastic.
There's a lot of places to liveLike I would live in De Pere,

(48:34):
schwab and I you know, suamico,green Bay, all these places.
I would live in personally.
See, I think that's it.
When it comes to investing, yougot to let go of the vine Like
you got to have.
You got to find a way to paysomeone else to do it, or else
you're going to be, you know,pumping and jumping at one or
two deals a year when you couldbe doing 20.
Yeah, you just got to have ascalable system, man.

Speaker 1 (48:47):
Talk to me about, like, if you're're, if we have
an investor listening to thisoutside of Wisconsin, like man,
I would love to just build ascalable system and get, get
people to my installers to beable to work with the same stuff
.
How did you, how do you find ifyou're out of state person
right now?
How do you find installers?
How do you find these people,the who's, as we always say?
How do you find your who's?

(49:07):
This work for you.

Speaker 2 (49:12):
What's been, what's been the success part there for
you?
Yeah, a few practical ones.
Facebook's fantastic.
It took two posts on Facebookto get 12 subcontractors hitting
me up and I haven't even got.
It's funny enough, some of themare on our buyers list, one of
them that's going out.
There is a buyer that does alot of GC work, but I would say
Facebook's fantastic.
Reach out to the guys at WDP.
We have a contractor list onour website, a lender list, et

(49:36):
cetera, all that good stuff, andwe're revamping the website.
It's going to be a little bitprettier, easier to navigate,
but Reese has all kinds ofcontacts.
It's not realistic to keep itup to date all the time.
So there may be someone thatReese has worked Like for me.

(49:56):
I may have worked with somebodythat I've introduced to reese
right and he's starting tocirculate amongst us internally
and maybe we want to recommendthem out to some of our buyers
that we would trust.
Example, that marionetteproperty.
The roof looks like it hadeczema.
It's ugly, it's flaking off the.
The wind blows a little bit.
You see shingles, dust in thewind.
You would think that.
You would think that it is.
It is, uh, like the springshere and the shingles are flying
off to plant new houses.
I mean it's awful, that roof'sterrible.

(50:17):
But wdp already had a roofquote for me through prestige,
the easiest thing.
I just called the prestige guys.
They walk me through theirquote again.
I say, okay, let's, I mean thiswas literally handed to me.
Yeah, so now I have prestige, Iknow who my roofing guy is
installers.
It's kind of interesting likeit's easier for me to say like I
like my installer, I'm going tokeep using them.

(50:38):
But also I know if he gets hitby a bus, like I need to have a
number two, a kitchen guy or I'msorry, your cabinet guy sort of
thing, your countertop guy,like.
I'm posting on facebook.
I'm trying to find the bestquote.
I think it is a good idea to atsome point be boots on the
ground for a week or so so youknow where you are.
I like that personally, but youdon't got to do it If you're

(51:00):
out of state.
You know, talk to your propertymanager, like.
They have all kinds ofrecommendations WDP's great,
facebook's great.
Ask for the best Facebook groupmessages from the WDP guys.
They'll tell you all this stuff.
It's fantastic.

Speaker 1 (51:16):
Yeah, and we have a Facebook group out there called
REI Success.
So if you want to join thatFacebook group, you can just go
and ask to prove to it.
Just don't be a jerk in thegroup and you'll be fine.
But there's tons of greatresources and if you search in
the Facebook groups too, a lotof times for you know,
contractor, flooring, guy,whatever you can just search in
groups and you'll find pastposts where somebody else maybe

(51:38):
had the same question that youdid, and you can find.
You know the comments and thepeople that people are
recommending for that stuff.
Contractors are always a littletough.
People don't want to give themup.
But if you just like you saidyou're just gritty enough and
you just go posting on Facebookand getting some groups and all
that sort of stuff.
I know here in door Countythere's a door County
contractors group Like there's aspecific group for people

(51:58):
looking for contractors andpeople in there.
So like we needed somebody tojust do light painting at
Carrie's homeschool facilitypreschool she's starting up and
she put something in this doorCounty contractors group and we
got a guy coming to paint thebathroom there and some like
little edging all the way around.
That got missed when we redidthe floors.
We should have did the floorsfirst and then painted, cause

(52:20):
now the trim sits lower, and sowe got this little you got to
redo it.
He's going to do it all for like240 bucks.
Great, it's amazing, amazing.
We're not in there trying to doit.
We're not replacing all thetrim, like all these people are
like just replace the trim Well,why would we do that?
It's good trim.
Got a guy who's going to do itfor $200.
Boom.

Speaker 2 (52:38):
Done who, not how, baby.
That is a great book.

Speaker 1 (52:46):
I'm glad you recommended we read that one on
my wall of fame of books, like Igot rich dad, poor dad is
platinum.
And then right behind that isgoing to be who, not how,
because that is it is inproperty management.
I just want to say this to theaudience If you guys can find a
good property management companyand we have some that we can
recommend but if you're inMilwaukee or Madison or Eau

(53:09):
Claire or you know, or somewheresuperior all those different
places find a good propertymanagement company and that can
solve a lot of your who problems.
They're going to have a list ofall these contractors that they
already work with, that they dovolume with, so they already
get good pricing.
If you're a good managementcompany, they're going to pass
that on to you and then youdon't have to go around shopping
.
You can literally work onfinding deals and finding money

(53:35):
and just focus on those twothings in your real estate
investing journey and you canbuild a portfolio as big as you
could ever imagine, as long asthat property management company
continues to do what they saythey're going to do.
It's just how many deals do youwant to buy and then how much
money do you want, and that's itVery simple, man, absolutely.

Speaker 2 (53:51):
Well, one more thing about that is you introduce the
idea of property managementcompanies that will assist or do
rehab and, oh my gosh, man,like what that means.
You may not like, you may notwant them to do all of it, but
they have the truck if you needto get the lvp to marionette.
I mean, that's that happened.
I'm like, hey, man, this iskind of a it's pressing, like
this guy, get up there quick.

(54:12):
They had a guy do it within 12hours the next day.
I mean, because it just workedout, they had a guy with a truck
that was on standby.
But that saved me 50, 20conversations on facebook of
going back and forth with peopleI don't know and I you pay for
it.
You know, I guess there's timeand so you make sure to
compensate them fairly, but theidea being like if that hadn't
happened, my installer wouldn'tbe able to get in and now I'm

(54:34):
waiting two more weeks to getlvp.
Well, four more weeks becausehe has another job that came up
in three weeks, so yep do nothelp and be curious to your
property managers yep, yep,absolutely well, why this is.

Speaker 1 (54:46):
Uh, this has been awesome.
Dude, I'm glad that we had tohave you on here.
I don't think we've had anybodyinvesting in Wisconsin that's
not living in Wisconsin rightnow.
So I think you're you just Ithink we're episode 30 something
and you're you're a first timerhere, for you're filling a
niche here of a first first timeperson.
So I appreciate you being onagain and I'm excited for you.
I'm excited for how fast youkind of turn the switch on here

(55:10):
and all the things that you'velearned in a short period of
time, and it's really impressiveto see you just taking massive,
imperfect action.
It's fantastic.
Our last question that wealways ask, because you you do
visit up here a couple times ayear what's your favorite
wisconsin tradition or place tovisit?

Speaker 2 (55:27):
oh yeah, good question.
Um, I'll say first.
I'll say first one.
I thank you for the opportunityand also sharing with me what
you've learned.
Everyone on the team would echothe same.
But when it comes to who, nothow like I would encourage
everybody to work for somebodythat they really, that they

(55:48):
admire, respect and also kind ofwant to be like.
Somebody that they really thatthey admire, respect and also
kind of want to be like.
That's a big encouragement toany young men out there, whoever
is in this podcast.
I work for an awesome guy,awesome family, but really
somebody with the core values.
All that good stuff.
It's worth it.
It's worth more than yourpaycheck because you're going to
learn something, you're goingto grow.
So I want to get that out theway.

(56:11):
I would say man, we love OldDoor County.

Speaker 1 (56:12):
I work there all the time.
We've been re-rapping that yeah.

Speaker 2 (56:16):
It's very we like the place up there.
It's a great place to visit.
I think my favorite thing aboutWisconsin hands down are the
people.
And the culture that they havecreated up there is very unique,
like all throughout, at leastnortheast Wisco, where I am, I
know I'm in Wisconsin.
Very unique, like allthroughout at least northeast
wisco where I am, I know I'm inwisconsin.
The people I mean the peopleare just phenomenal.
I'm from the south.
Everyone's friendly, it's, itfeels, the exact same up there.

(56:37):
The accent's just different,the weather's just colder.
Yeah, so a bit of a genericanswer, a tradition, maybe
there's all.
I can't drink an old-fashionedwith a straight face anymore
it's got to be no, it's got tobe a wisco, old-fashioned, with
7-Up or whatever it is you guysput in there, it's great.

Speaker 1 (56:56):
That's awesome, man Wyatt.
If anybody wants to reach outto you, ask you about your
journey or just anything realestate related, what's a great
way for them to connect with youbrother?

Speaker 2 (57:06):
Yeah, look me up on Facebook or Instagram.
Wyatt Powell.
I think my Instagram handle istombstoneafter Wyatt Earp, my
old namesake.

Speaker 1 (57:13):
But, seriously.

Speaker 2 (57:14):
Just look me up on either.
Shoot me a message, Love toconnect.
Got the same profile pictureacross all platforms, so it
ain't hard to find Beautiful.

Speaker 1 (57:22):
Are you bearded in that profile picture or no beard
?

Speaker 2 (57:25):
I am not.
No, I am a young, no beard.

Speaker 1 (57:30):
You'll see his true age when you see that no bearded
picture, because it, at thatbeard, adds about 10 years, I
think.
So I know it's crazy.
It's crazy.
Well, man, appreciate it.
Thank you guys all forlistening.
As I say on a lot of theseepisodes, guys, if you're
getting value out of this, oryou want to raise private money
or you want to get deal flow,share this episode.
Put it out on your facebook,post your instagram, tiktok,

(57:51):
whatever.
Share this episode.
Put it out on your Facebook,post your Instagram, tiktok,
whatever.
Share this thing, because notonly does that help us grow the
audience and continue to help usbring you guys great guests,
but it also helps you build yourportfolio and your profile
right.
People are going to see thatyou're in real estate investing,
they're going to see whatyou're up to and they're going
to want to know more and it'sgoing to create more
conversations for you.
It's going to create morecredibility.
So rate the show like it.

(58:12):
All that good stuff.
And if you're looking to getdeals, as we said at the start
of the show, go towisconsindiscountpropertiescom,
put your info in and, again,we're giving away the BRRRR
course for free nowadays, so goget it.
Get started on your real estateinvesting journey, and if
you're not ready to do that yet,you're just kind of dipping
your toe in the water.
Just hit the contact us form onthat webpage and one of us will

(58:32):
reach out to you and have aconversation and just try to
point you in the right direction.
So with that, wyatt, appreciateyou being on, brother.
We'll see you here, um,probably on our next meeting
shortly.

Speaker 2 (58:42):
Thanks for having me on, corey.