September 5, 2025 • 16 mins
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:05):
Welcome back to King Closer Reacts.
I am the King Closer, rj BatesIII, and today I have to let you
guys know I am in a very spicymood because one of my favorite
things was supposed to happen.
The cleaners were supposed tocome to the office and clean the
office and they didn't show up,and so because of that, I'm
(00:29):
pissed off.
I like my office being clean,so I thought the best thing I
could possibly do is watch otherpeople's videos and react to it
and take out all of my angerand frustration and the fact
that my office isn't clean onother people.
Let's get into the first video.
Speaker 2 (00:50):
Hello, may I speak with Kalissa Colin?
I'm sorry.
Speaker 3 (00:54):
Who's calling?
Speaker 2 (00:56):
Oh yeah, my name is Mike.
I was calling.
I'm looking for the.
I'm looking for Kalissa.
Speaker 3 (01:01):
You know what?
When I ask you who's calling,what are you calling for?
Speaker 2 (01:07):
I was calling because I'm looking for Kalissa,
because I believe Say that onemore time I'm going to hang up.
Speaker 3 (01:13):
I hate somebody that's got to constantly repeat
themselves.
Speaker 4 (01:16):
I heard you the first time.
Speaker 3 (01:18):
I didn't need two more times to say the same thing
.
Speaker 2 (01:21):
I'm looking for the property owner of 1032 Lowell
Bond.
Speaker 3 (01:24):
Road.
Okay, so you just changed yourthing.
What the fuck do you want?
Speaker 2 (01:29):
That's what I'm looking for.
Speaker 3 (01:30):
I have records that show when are you calling from.
Where are you calling from?
Speaker 2 (01:35):
I'm in Nashville Tennessee.
Speaker 3 (01:36):
That's not what the fuck I'm asking.
What company are you callingfrom?
Don't start speaking with me.
Well take your company andshove it up your ass.
Goodbye.
Speaker 1 (01:49):
This old lady is amazing.
She said that's not what thefuck I'm asking.
Oh my God, I love that seller.
Now, listen, here's the thing.
The cold caller could havereally helped himself there a
little bit.
Listen, here's the thing.
The cold caller could havereally helped himself there a
little bit.
He was repeating himself andclearly just caught off guard by
(02:10):
saying I was looking forCalissa.
I was looking for Calissa.
It's like yeah, brother, justget to it, I want to buy your
house.
You got to match that energy.
I love sellers like thisbecause then you can just go toe
to toe with them.
Just be like listen, I'mreaching out because your house
is tax delinquent or it's inpre-foreclosure or you got a
vacant house in Nashville,tennessee, I'm looking to buy it
(02:31):
.
Are you looking to sell?
Match that energy.
I bet you you're going to get alot more positive results with
these types of sellers if youcan find it within yourself to
match that tone Now in regardsto this seller.
You can find it within yourselfto match that tone Now in
regards to this seller.
I don't miss these days of coldcalling and cold texting and
getting that all day long.
(02:53):
I remember during 2020, when Idid the first 50-50-50, the
first day I tasted this wasNebraska.
The red, red, angry women ofNebraska I mean all of them were
old and angry like that.
I got it all day long.
Why the fuck are you sending mea text message and I would just
be like ma'am, you were like 85.
(03:15):
Why in the world are you soangry about a text message Like
calm down.
It would not calm down.
The next one was Rhode Island.
Rhode Island did not like thefact that I was texting asking
to buy their vacation home whenthey lived in Brooklyn and Long
Island.
They were angry and it was likewhy would you think, just
(03:35):
because my house is vacant, Iwould want to sell it?
That's where I go to spend mysummers, and it was just anger
all the time.
Summers and it was just angerall the time.
So this is again a friendlyreminder that now it's 2025 and
we don't have to do this anymore.
We can actually just talk topeople that have already raised
their hand and said they want tosell their house with PPL.
(03:56):
So friendly reminder golden ageof wholesaling, ppl is awesome
and we don't have to deal withthat shit anymore.
Speaker 5 (04:03):
The next myth on the list is that wholesaling is easy
money.
You know, when I got startedand I think even still today,
wholesaling is looked at as theway that most new investors
should get started, because it'sreally simple, it's really easy
to do.
You know, initially when Ilooked at wholesaling I didn't
(04:23):
like it that much.
Well, one, because it seemedlike just a better paying job
and I didn't really want that.
But number two, it seemed likea constant source of pressure.
You know, I've got to go outand I've got to find a house
that I can buy really cheaplyway under market value in most
cases.
Okay, that's absolutelypossible.
(04:44):
Under market value in mostcases Okay, that's absolutely
possible.
But then I've got a very shortwindow of time that I have to
find someone who will buy thathouse from me and let me make
money.
Now.
Sure, their buyer's list.
Over time you can develop alist of people that you know
will probably buy the propertyand that sort of thing sort of
(05:10):
thing.
Speaker 1 (05:10):
Oh brother, why are you so lazy?
I mean, what are you doing Ifyou're in real estate?
Clearly you're talking aboutreal estate investing.
So are you saying that flippinghouses is easier?
Are you saying being a landlordis easier?
You want to talk about pressure, about pressure.
Be a landlord.
(05:31):
Oh man, we're clearing awhopping $400 a month and then
the HVAC goes out.
You're fucked for a year.
Do that times 10.
I mean, there's pressureassociated with everything.
A better paying job?
No, you're creating a company.
I don't have a job, I have acompany.
Yeah, at first I had to do thework.
I had to do all theacquisitions.
I had to do all thedispositions, all the TC issues.
(05:51):
I had to do all of that.
And then I figured out this ishow we do it.
Hey, someone else, come sithere, I'll pay you to do this
job.
That's how businesses arecreated.
So, ultimately, is wholesalingeasy?
It's one of the most simplestbusinesses out there.
(06:11):
Does it take time to developskills and understand how to do
it?
Yes, of course.
But to point and say that theremight be something easier in
real estate investing thanwholesaling, I think you're just
underestimating what comesalong with the responsibility
and the liability of actuallyowning real estate.
(06:32):
You still have to find thecheap deals, you're still going
to have to find an end buyer ora tenant on each one of those
and there's pressure associatedthat, quite frankly, far exceeds
me having 14 days to find anend buyer If you're in sales.
Speaker 6 (06:49):
I don't care if you're selling an info product,
wholesaling real estate, sellingclothes.
It doesn't matter what you sell.
One of the things that stop youfrom closing actually closing
consistent five, six-figuredeals every single month is that
you care too much.
You care too much about losingthat lead.
You care too much about whatare they going to say, what are
(07:09):
they going to think about you,what if I mess up or you're too
thirsty to get this specificdeal done?
And guess what?
The seller or your buyer?
They smell your commissionbreath.
They know that you're trying tomake money off of them.
Nobody wants to feel likethey're getting sold.
They want to feel thattransformation, they want that
transfer of confidence from youto them.
(07:30):
Right, it doesn't matter whatyou're selling.
And think about it.
If you've done deals, you knowthat your first deal is always
the hardest.
And why is that?
Because you don't have apipeline.
Everything's dry, everythingfeels like it's going to be a
deal.
So you put your everything intothat one lead.
But what happens if they don'tclose?
Your morale gets hurt, theydon't sign, your morale gets
(07:50):
hurt, you get hurt, you start tofeel down on yourself.
But the person who's closingsix figures a month.
They have a pipeline full ofleads.
It's like when you close yourfirst deal figures a month.
They have a pipeline full ofleads.
It's like when you close yourfirst deal the floodgate, the
floodgates open and it getsextremely easy because you now
have a pipeline of leads.
You now know if this persondoesn't sign, the next person
will.
Speaker 1 (08:10):
So too much talky talky, daryl, oh, daryl.
Daryl was the first person thatI ever critiqued on closing way
back in late 2021, early 2022.
Daryl came into my DMs andtalked shit about me winning the
(08:36):
Closers Olympics.
But he wasn't the only onewinning the Closers Olympics,
but he wasn't the only one.
Scotty Balsamo, scotty B, alsotalked some shit and said yeah,
I saw you win the ClosersOlympics, but I can beat you.
And I said brother, I don'teven know what your name is.
Who are you?
How about this?
(08:56):
You want an opportunity to beatme in a competition?
You and this other shit talkery'all can compete.
I'll judge you and whoever winscan compete against me
one-on-one in a closer cagematch.
So Daryl and Scotty wenthead-to-head.
Daryl lost, scotty won, andthen I kicked the shit out of
Scotty a couple weeks later andthen I beat him again in 2023 in
(09:17):
the Closers Olympics.
That being said, daryl hasimproved as a closer over the
years, because one of my issuesthat I had with him back in 2021
was the commission breath.
He was a part of the peace gang, if you know what I'm saying,
and he was trying to manufacturedeals.
Right, everything had to bepitched creative instead of just
(09:39):
realizing that the majority ofyour deals should be cash and
you should be trying to find theseller's motivation and then
make that cash offer for thesellers that actually need us to
be their solution.
He was trying to manufactureeverything.
He was speaking with a heavycommission breast, so I like the
fact that Daryl has improvedhis game.
(10:01):
I can hear the fact that he hastasted success, probably more
than he was back in 2021.
So good job, daryl.
I'm glad you stayed out of myDMs and stopped talking shit too
.
Speaker 4 (10:14):
I had no idea how much successful people actually
invest in themselves.
I didn't grow up around peoplewho talked about masterminds,
coaching, leveling up orpersonal development.
Successful people treatpersonal growth like an asset.
It's the shortcut to moreknowledge, better decisions and
(10:37):
bigger results.
When I started investing inmyself, my whole life, family
and business changed.
Speaker 1 (10:50):
Yeah yo, I can't even take that serious man.
Listen, guys, if I ever go offthe fucking rails and start
talking like that, just let meknow in the comments.
Man, I got to go back to who Iwas.
I just I'm not being hard onthis lady.
I mean she's, she's trying togo out there and I hear where
(11:13):
she's coming from.
You know her background, she.
She wasn't around successfulpeople and the masterminds and
all that's new to her.
But and the message was just soodd to me, I just it came across
weird, the breaks.
I just didn't like it.
(11:33):
I'm trying to be as nice butalso hard.
I mean, I don't know thisperson, so it's really.
It's a lot easier for me to beharder on the people that I know
.
You know what I'm saying.
Imagine Pace Morby making thatright there.
Right, lot easier for me to beharder on the people that I know
.
You know what I'm saying.
Like, imagine Pace Morby makingthat right there.
Right, we would all be likePace, are you okay, man?
Do you have a stroke orsomething over the weekend?
(11:56):
This is just weird.
Listen, can we move on?
Speaker 7 (12:00):
This is a deal that I would love to buy.
So let's run some numbers andsee if I can afford it.
So here she is, super cute.
It's already in good conditionso I wouldn't have to do any
repairs here.
It's ready to go and I thinkthis could do really well on
Airbnb.
They are asking $650,000 forthe house.
If I put 5% down and I livethere for the year before
(12:20):
renting it out, then themortgage is $4,400, which is
pretty good.
That's at six and a halfinterest rate.
Interest rates are coming downright now but to be safe I'll
put 6.8.
That's $4,500 a month.
This is only a two-bedroom so ifI live there and I rented the
other bedroom, I could probablyget $1,500 a month in this
neighborhood.
Now it's in a really good areathat's going to appreciate in
(12:41):
value over time.
So there's a lot of upsidethere 8 to 10% appreciation per
year and it has alley access tothe backyard where I could build
something back here.
So let's see how much it'sgoing to take.
If we give them asking priceand the down payment is 5%, then
my loan amount is about$617,000.
Let's say the interest rate is6.8.
Discount points it's probablygoing to be like two percent
(13:04):
from the lender.
Fifty thousand dollars is notlittle money, but if we can get
the seller to pay some of thoseclosing costs, then we're down
to like thirty one thousand.
So thirteen thousand dollars toclose.
Honestly, I think the payment'sgonna be higher than this,
because the last house I boughtit was a lot higher.
That works with my long-termgoals, so this one is worth
putting an offer in.
So this one I'll offer the listprice of $650,000, but I'm
(13:28):
going to ask for those closingcosts and see if they accept.
Speaker 1 (13:34):
Man.
They do things just batshitcrazy up in Washington state.
You ever been to Seattle before?
I mean it's a weird place, andso is the real estate investing
Like Vaina place.
And so is the real estateinvesting Like Vaina.
She's been a guest on thepodcast.
She's like 23, 24, somethingaround there.
Maybe she's older, in her 20s,and she's got big goals.
(13:56):
She's a successful wholesalersix figures a month back when I
interviewed her.
But this is just crazy.
I mean this is like thedefinition of manufacturing a
deal.
We are literally tryingeverything possible to me I'll
live in it, I'll rent out a room, I'll build something in the
backyard Like fucking A bro, youknow, you can go buy some shit
(14:19):
somewhere else that you can justrent out and you don't have to
live in it with strangers comingin and out every day.
Dude, when I go on Airbnbbecause I travel a lot, I don't
want to stay in somebody's roomwith them there and then like
it's just weird, right, I wantto be able to walk to the
kitchen and do my things, andshe's like I'll just deal with
(14:42):
strangers all the time andpaying full retail on something
because 10% annual appreciation,come on.
Yes, the market has been goingup and, based off of the history
of our real estate inside ofthe United States, it will
(15:07):
always go up.
But you can't base yourinvestments off of that.
What happens if the market goesdown and you need to sell the
property?
You can't base it.
That's why we buy at a discount.
Other thing is you could bebuying properties around the
(15:29):
country where you don't have toput any money down.
You could literally get into itwith a hard money loan, fix it
up, refinance it, pull all ofyour cash out, have no money
sitting in it.
So this is just, by alldefinitions, a manufactured deal
that maybe she wants to buy itbecause she wants to live there,
(15:51):
and it's not.
She's not viewing it as aninvestment, but you put it on
your investment YouTube channeland so for me, it's like I don't
find this to be sound advice tobe giving the masses.
It's a manufacturing deal.
It's not what we should bedoing.
Well, that being said, I'm stillsitting in my very dirty office
(16:12):
.
I mean, it's not that dirty,but I just don't like dust.
You know what I'm saying.
Why am I office clean?
I wanted to yell at the cleaner, like that old lady on the
first video.
She was fun.
I wish I had her phone numberso I could call her.
Let me know which video youguys like best today and I guess
(16:33):
, show me some love and ifyou've got a good cleaner in
Fort Worth, texas, drop theirphone number so I can call and
hire them.
See you guys tomorrow.
Welcome back to King Closer Reacts.
I am the King Closer, rj BatesIII, and today I have to let you
guys know I am in a very spicymood because one of my favorite
things was supposed to happen.
The cleaners were supposed tocome to the office and clean the
office and they didn't show up,and so because of that, I'm
(00:29):
pissed off.
I like my office being clean,so I thought the best thing I
could possibly do is watch otherpeople's videos and react to it
and take out all of my angerand frustration and the fact
that my office isn't clean onother people.
Let's get into the first video.
Speaker 2 (00:50):
Hello, may I speak with Kalissa Colin?
I'm sorry.
Speaker 3 (00:54):
Who's calling?
Speaker 2 (00:56):
Oh yeah, my name is Mike.
I was calling.
I'm looking for the.
I'm looking for Kalissa.
Speaker 3 (01:01):
You know what?
When I ask you who's calling,what are you calling for?
Speaker 2 (01:07):
I was calling because I'm looking for Kalissa,
because I believe Say that onemore time I'm going to hang up.
Speaker 3 (01:13):
I hate somebody that's got to constantly repeat
themselves.
Speaker 4 (01:16):
I heard you the first time.
Speaker 3 (01:18):
I didn't need two more times to say the same thing
.
Speaker 2 (01:21):
I'm looking for the property owner of 1032 Lowell
Bond.
Speaker 3 (01:24):
Road.
Okay, so you just changed yourthing.
What the fuck do you want?
Speaker 2 (01:29):
That's what I'm looking for.
Speaker 3 (01:30):
I have records that show when are you calling from.
Where are you calling from?
Speaker 2 (01:35):
I'm in Nashville Tennessee.
Speaker 3 (01:36):
That's not what the fuck I'm asking.
What company are you callingfrom?
Don't start speaking with me.
Well take your company andshove it up your ass.
Goodbye.
Speaker 1 (01:49):
This old lady is amazing.
She said that's not what thefuck I'm asking.
Oh my God, I love that seller.
Now, listen, here's the thing.
The cold caller could havereally helped himself there a
little bit.
Listen, here's the thing.
The cold caller could havereally helped himself there a
little bit.
He was repeating himself andclearly just caught off guard by
(02:10):
saying I was looking forCalissa.
I was looking for Calissa.
It's like yeah, brother, justget to it, I want to buy your
house.
You got to match that energy.
I love sellers like thisbecause then you can just go toe
to toe with them.
Just be like listen, I'mreaching out because your house
is tax delinquent or it's inpre-foreclosure or you got a
vacant house in Nashville,tennessee, I'm looking to buy it
(02:31):
.
Are you looking to sell?
Match that energy.
I bet you you're going to get alot more positive results with
these types of sellers if youcan find it within yourself to
match that tone Now in regardsto this seller.
You can find it within yourselfto match that tone Now in
regards to this seller.
I don't miss these days of coldcalling and cold texting and
getting that all day long.
(02:53):
I remember during 2020, when Idid the first 50-50-50, the
first day I tasted this wasNebraska.
The red, red, angry women ofNebraska I mean all of them were
old and angry like that.
I got it all day long.
Why the fuck are you sending mea text message and I would just
be like ma'am, you were like 85.
(03:15):
Why in the world are you soangry about a text message Like
calm down.
It would not calm down.
The next one was Rhode Island.
Rhode Island did not like thefact that I was texting asking
to buy their vacation home whenthey lived in Brooklyn and Long
Island.
They were angry and it was likewhy would you think, just
(03:35):
because my house is vacant, Iwould want to sell it?
That's where I go to spend mysummers, and it was just anger
all the time.
Summers and it was just angerall the time.
So this is again a friendlyreminder that now it's 2025 and
we don't have to do this anymore.
We can actually just talk topeople that have already raised
their hand and said they want tosell their house with PPL.
(03:56):
So friendly reminder golden ageof wholesaling, ppl is awesome
and we don't have to deal withthat shit anymore.
Speaker 5 (04:03):
The next myth on the list is that wholesaling is easy
money.
You know, when I got startedand I think even still today,
wholesaling is looked at as theway that most new investors
should get started, because it'sreally simple, it's really easy
to do.
You know, initially when Ilooked at wholesaling I didn't
(04:23):
like it that much.
Well, one, because it seemedlike just a better paying job
and I didn't really want that.
But number two, it seemed likea constant source of pressure.
You know, I've got to go outand I've got to find a house
that I can buy really cheaplyway under market value in most
cases.
Okay, that's absolutelypossible.
(04:44):
Under market value in mostcases Okay, that's absolutely
possible.
But then I've got a very shortwindow of time that I have to
find someone who will buy thathouse from me and let me make
money.
Now.
Sure, their buyer's list.
Over time you can develop alist of people that you know
will probably buy the propertyand that sort of thing sort of
(05:10):
thing.
Speaker 1 (05:10):
Oh brother, why are you so lazy?
I mean, what are you doing Ifyou're in real estate?
Clearly you're talking aboutreal estate investing.
So are you saying that flippinghouses is easier?
Are you saying being a landlordis easier?
You want to talk about pressure, about pressure.
Be a landlord.
(05:31):
Oh man, we're clearing awhopping $400 a month and then
the HVAC goes out.
You're fucked for a year.
Do that times 10.
I mean, there's pressureassociated with everything.
A better paying job?
No, you're creating a company.
I don't have a job, I have acompany.
Yeah, at first I had to do thework.
I had to do all theacquisitions.
I had to do all thedispositions, all the TC issues.
(05:51):
I had to do all of that.
And then I figured out this ishow we do it.
Hey, someone else, come sithere, I'll pay you to do this
job.
That's how businesses arecreated.
So, ultimately, is wholesalingeasy?
It's one of the most simplestbusinesses out there.
(06:11):
Does it take time to developskills and understand how to do
it?
Yes, of course.
But to point and say that theremight be something easier in
real estate investing thanwholesaling, I think you're just
underestimating what comesalong with the responsibility
and the liability of actuallyowning real estate.
(06:32):
You still have to find thecheap deals, you're still going
to have to find an end buyer ora tenant on each one of those
and there's pressure associatedthat, quite frankly, far exceeds
me having 14 days to find anend buyer If you're in sales.
Speaker 6 (06:49):
I don't care if you're selling an info product,
wholesaling real estate, sellingclothes.
It doesn't matter what you sell.
One of the things that stop youfrom closing actually closing
consistent five, six-figuredeals every single month is that
you care too much.
You care too much about losingthat lead.
You care too much about whatare they going to say, what are
(07:09):
they going to think about you,what if I mess up or you're too
thirsty to get this specificdeal done?
And guess what?
The seller or your buyer?
They smell your commissionbreath.
They know that you're trying tomake money off of them.
Nobody wants to feel likethey're getting sold.
They want to feel thattransformation, they want that
transfer of confidence from youto them.
(07:30):
Right, it doesn't matter whatyou're selling.
And think about it.
If you've done deals, you knowthat your first deal is always
the hardest.
And why is that?
Because you don't have apipeline.
Everything's dry, everythingfeels like it's going to be a
deal.
So you put your everything intothat one lead.
But what happens if they don'tclose?
Your morale gets hurt, theydon't sign, your morale gets
(07:50):
hurt, you get hurt, you start tofeel down on yourself.
But the person who's closingsix figures a month.
They have a pipeline full ofleads.
It's like when you close yourfirst deal figures a month.
They have a pipeline full ofleads.
It's like when you close yourfirst deal the floodgate, the
floodgates open and it getsextremely easy because you now
have a pipeline of leads.
You now know if this persondoesn't sign, the next person
will.
Speaker 1 (08:10):
So too much talky talky, daryl, oh, daryl.
Daryl was the first person thatI ever critiqued on closing way
back in late 2021, early 2022.
Daryl came into my DMs andtalked shit about me winning the
(08:36):
Closers Olympics.
But he wasn't the only onewinning the Closers Olympics,
but he wasn't the only one.
Scotty Balsamo, scotty B, alsotalked some shit and said yeah,
I saw you win the ClosersOlympics, but I can beat you.
And I said brother, I don'teven know what your name is.
Who are you?
How about this?
(08:56):
You want an opportunity to beatme in a competition?
You and this other shit talkery'all can compete.
I'll judge you and whoever winscan compete against me
one-on-one in a closer cagematch.
So Daryl and Scotty wenthead-to-head.
Daryl lost, scotty won, andthen I kicked the shit out of
Scotty a couple weeks later andthen I beat him again in 2023 in
(09:17):
the Closers Olympics.
That being said, daryl hasimproved as a closer over the
years, because one of my issuesthat I had with him back in 2021
was the commission breath.
He was a part of the peace gang, if you know what I'm saying,
and he was trying to manufacturedeals.
Right, everything had to bepitched creative instead of just
(09:39):
realizing that the majority ofyour deals should be cash and
you should be trying to find theseller's motivation and then
make that cash offer for thesellers that actually need us to
be their solution.
He was trying to manufactureeverything.
He was speaking with a heavycommission breast, so I like the
fact that Daryl has improvedhis game.
(10:01):
I can hear the fact that he hastasted success, probably more
than he was back in 2021.
So good job, daryl.
I'm glad you stayed out of myDMs and stopped talking shit too
.
Speaker 4 (10:14):
I had no idea how much successful people actually
invest in themselves.
I didn't grow up around peoplewho talked about masterminds,
coaching, leveling up orpersonal development.
Successful people treatpersonal growth like an asset.
It's the shortcut to moreknowledge, better decisions and
(10:37):
bigger results.
When I started investing inmyself, my whole life, family
and business changed.
Speaker 1 (10:50):
Yeah yo, I can't even take that serious man.
Listen, guys, if I ever go offthe fucking rails and start
talking like that, just let meknow in the comments.
Man, I got to go back to who Iwas.
I just I'm not being hard onthis lady.
I mean she's, she's trying togo out there and I hear where
(11:13):
she's coming from.
You know her background, she.
She wasn't around successfulpeople and the masterminds and
all that's new to her.
But and the message was just soodd to me, I just it came across
weird, the breaks.
I just didn't like it.
(11:33):
I'm trying to be as nice butalso hard.
I mean, I don't know thisperson, so it's really.
It's a lot easier for me to beharder on the people that I know
.
You know what I'm saying.
Imagine Pace Morby making thatright there.
Right, lot easier for me to beharder on the people that I know
.
You know what I'm saying.
Like, imagine Pace Morby makingthat right there.
Right, we would all be likePace, are you okay, man?
Do you have a stroke orsomething over the weekend?
(11:56):
This is just weird.
Listen, can we move on?
Speaker 7 (12:00):
This is a deal that I would love to buy.
So let's run some numbers andsee if I can afford it.
So here she is, super cute.
It's already in good conditionso I wouldn't have to do any
repairs here.
It's ready to go and I thinkthis could do really well on
Airbnb.
They are asking $650,000 forthe house.
If I put 5% down and I livethere for the year before
(12:20):
renting it out, then themortgage is $4,400, which is
pretty good.
That's at six and a halfinterest rate.
Interest rates are coming downright now but to be safe I'll
put 6.8.
That's $4,500 a month.
This is only a two-bedroom so ifI live there and I rented the
other bedroom, I could probablyget $1,500 a month in this
neighborhood.
Now it's in a really good areathat's going to appreciate in
(12:41):
value over time.
So there's a lot of upsidethere 8 to 10% appreciation per
year and it has alley access tothe backyard where I could build
something back here.
So let's see how much it'sgoing to take.
If we give them asking priceand the down payment is 5%, then
my loan amount is about$617,000.
Let's say the interest rate is6.8.
Discount points it's probablygoing to be like two percent
(13:04):
from the lender.
Fifty thousand dollars is notlittle money, but if we can get
the seller to pay some of thoseclosing costs, then we're down
to like thirty one thousand.
So thirteen thousand dollars toclose.
Honestly, I think the payment'sgonna be higher than this,
because the last house I boughtit was a lot higher.
That works with my long-termgoals, so this one is worth
putting an offer in.
So this one I'll offer the listprice of $650,000, but I'm
(13:28):
going to ask for those closingcosts and see if they accept.
Speaker 1 (13:34):
Man.
They do things just batshitcrazy up in Washington state.
You ever been to Seattle before?
I mean it's a weird place, andso is the real estate investing
Like Vaina place.
And so is the real estateinvesting Like Vaina.
She's been a guest on thepodcast.
She's like 23, 24, somethingaround there.
Maybe she's older, in her 20s,and she's got big goals.
(13:56):
She's a successful wholesalersix figures a month back when I
interviewed her.
But this is just crazy.
I mean this is like thedefinition of manufacturing a
deal.
We are literally tryingeverything possible to me I'll
live in it, I'll rent out a room, I'll build something in the
backyard Like fucking A bro, youknow, you can go buy some shit
(14:19):
somewhere else that you can justrent out and you don't have to
live in it with strangers comingin and out every day.
Dude, when I go on Airbnbbecause I travel a lot, I don't
want to stay in somebody's roomwith them there and then like
it's just weird, right, I wantto be able to walk to the
kitchen and do my things, andshe's like I'll just deal with
(14:42):
strangers all the time andpaying full retail on something
because 10% annual appreciation,come on.
Yes, the market has been goingup and, based off of the history
of our real estate inside ofthe United States, it will
(15:07):
always go up.
But you can't base yourinvestments off of that.
What happens if the market goesdown and you need to sell the
property?
You can't base it.
That's why we buy at a discount.
Other thing is you could bebuying properties around the
(15:29):
country where you don't have toput any money down.
You could literally get into itwith a hard money loan, fix it
up, refinance it, pull all ofyour cash out, have no money
sitting in it.
So this is just, by alldefinitions, a manufactured deal
that maybe she wants to buy itbecause she wants to live there,
(15:51):
and it's not.
She's not viewing it as aninvestment, but you put it on
your investment YouTube channeland so for me, it's like I don't
find this to be sound advice tobe giving the masses.
It's a manufacturing deal.
It's not what we should bedoing.
Well, that being said, I'm stillsitting in my very dirty office
(16:12):
.
I mean, it's not that dirty,but I just don't like dust.
You know what I'm saying.
Why am I office clean?
I wanted to yell at the cleaner, like that old lady on the
first video.
She was fun.
I wish I had her phone numberso I could call her.
Let me know which video youguys like best today and I guess
(16:33):
, show me some love and ifyou've got a good cleaner in
Fort Worth, texas, drop theirphone number so I can call and
hire them.
See you guys tomorrow.
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