June 3, 2025 • 20 mins
Yo, if you're lookin' to level up your real estate game and close deals faster, this convo’s right up your alley. We’re chattin' with David Puppo, the dude who’s got the lowdown on seller financing and maximizing conversions. He’s all about helping sellers who are a bit stubborn on price but still need to unload their properties. We dive into some real talk about creative financing and how to make it work for both buyers and sellers, even when things get tricky. So, if you’re tired of those lowball offers not cutting it, tune in and let’s get you some fresh strategies to up your game!
Master Creative Financing for Real Estate Wins đź’Ľ
Visit https://www.paynelessflipping.com to learn how to do real estate deals the payneless way!
Ready to dive into the world of real estate? This episode has all the goods on how to hustle in wholesaling and creative financing. We chat with David Puppo, a dude who's not just about the talk—he's knee-deep in the trenches of the Orlando market, making waves across Florida and beyond. He’s got some killer tips on handling sellers who are stuck on their price, even when the market says otherwise. You’ll hear how to figure out what really motivates sellers and how to pivot your pitch to meet their needs. Plus, we’re breaking down some real-life scenarios that’ll have you saying, 'Aha!' as you learn to navigate tricky situations like a pro. If you’re in the real estate game or just thinking about it, this one’s a goldmine of wisdom. We're dropping knowledge like it’s hot, so make sure to take notes!
Takeaways:
- To crush your real estate game, check out investorthrive.com for killer training.
- Even if you're just starting out or juggling a side hustle, hit me up anytime.
- If sellers are stuck on their price, find out what motivates them to sell.
- Understanding seller motivation is key to crafting the right deal and closing it.
- Creative financing can be a lifesaver when cash offers just won't cut it, trust me!
- Don't forget to practice your sales skills; role-playing can really make a difference.
Companies mentioned in this episode:
- investorthrive.com
- David Puppo
- Orlando
- Tennessee
- North Carolina
- Georgia
- Corey Geary
- Eric Brewer
- Pace Morby
- Joe McCall
- Neil Timmons
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
If you want to save time andlearn how to invest in real estate
faster, go toinvestorthrive.com to master the
sales process from ourtraining so you can close more deals
with less leads.
Even if you're only doing thispart time or if you don't know where
to start and need help, giveme a call at 385-398-9862 and let's
chat.
What is going on, everybody?
(00:21):
We are live here at thePainless Wholesaling Podcast with
my man David Puppo.
He even put his number inthere for you.
You know where to find me.
Dude, give this man a call.
And you guys probablywondering, okay, you know, if you
haven't heard of him, whyshould I give him a call?
Well, that's why I brought himon here to explain why he is the
go to guy to give a call aboutseller financing.
(00:42):
Is that right?
You're helping people maximizetheir conversions right now?
Yeah, absolutely.
We've seen it in a lot of, alot of in our business.
And you know, I was having,heck, just conversations with some
of the local people here inthe Orlando market that are struggling
to understand how to get.
They know there's motivationto the seller, but the seller is
asking a little bit too muchmoney where, say, like a cash offer
(01:04):
isn't going to make a lot ofsense to them and they're having
a hard time structuring orfinding out how to be able to tap
into what a seller motivatedseller is.
Dang.
Well, hey, man, I first, I gotto say, it looks like it's pretty
warm over there.
You got the nice little Tshirt on the window.
A little cracked, it looks like.
Is the weather pretty good there?
Oh, it's in the low 80s right now.
It's great here in Orlando.
(01:25):
Get out, man.
I'm in Utah.
It's snowing.
I got my jacket on.
It's cold.
Yeah, I might have to wearthat maybe like a week out of the
year.
Like paradise right there.
Well, hey, so for the peoplethat don't know who you are, who
is David Puppo?
Can you tell us a little bitabout who you are?
Yeah.
So as you just mentioned,David Puppo, I'm here in the Orlando,
(01:47):
Florida market, but ourwholesaling business handles statewide
for Florida.
We're in a couple of other markets.
We've been in Tennessee, NorthCarolina, Georgia, and honestly,
just I've, I've enjoyed a lotof real estate investing.
I've been able to get aportfolio myself.
So I have a couple ofmultifamily you know, when the property
is right.
(02:07):
I wouldn't call myself fix andflipper, but the property is right.
I'm going to, I'm going todefinitely make sure we can capitalize
on it.
Nice.
I feel like everyone thoughtthey're a fixer flipper over the
last two years because youcould take anything and vacuum the
house and sell it, you know?
Yeah, yeah.
Everybody had the Midas touch,right now.
Now that thing is like a.
Like a black thumb.
(02:28):
Exactly.
So tell us, everyone's facingthis right now.
How are you maximizing thoseconversions when you know, you have
those sellers that still wanta lot for their house and the buyers
are like, I ain't paying a lot.
What are you doing?
Yeah, yeah.
So in, in our wholesalingoperation, we've seen buyers 15 to
20%, especially for flipsacross the board, asking for those
(02:51):
kind of decreases.
The ones with rentals, they'rea little bit still standoffish, but
nowhere near to what theflippers are.
The flippers are people thatare certainly, they're going into
hibernation for a little bitor they want it at too good to be
true prices.
So, yeah, so what we've beenable to just do when, when it comes
to the sellers, right.
(03:12):
So we want to always make surethat the sellers have somewhat of
a motivation.
Why do they want to sell atthe end of the day is going to be
the most priceless thing.
You know, we can establishtimelines with them.
We can of course understandwhat the condition is of the property,
but it always comes back toreally the pricing and the motivation.
(03:32):
So what we've been always ableto do is just, you got to start understanding
what are the biggestpriorities for this person.
And that is how we contour a solution.
So like say, for example, ifyou're saying price is the top one
for them and then maybe like,like a convenience option, we're
going to always make surethat, well, hey, why don't you list
the property, right?
(03:52):
So you want to do a little bitof a reverse psychology, push it
back on them and find out whywould they list it or not list it?
Sometimes they don't want todeal with a realtor, Right.
So from there, if price istheir top priority, there's only
a couple of different optionsthat you can provide to them.
A realtor, creative financing,or there's obviously a newer structure
with novations.
We've done a fair amount of those.
(04:14):
We've learned from a couple ofgreat people like Corey Geary, Eric
Brewer.
Those are some of the top people.
I know Pace Morbi has a reallygood section in his course for Novations
too.
So we found out really a nicelittle sweet spot when it comes to
the creative financing.
That's awesome.
And I love that.
So what's happening right nowis you're running into sellers who
(04:35):
are motivated, but they won'tmove on price.
Right, Right.
So.
So if they're not willing tomove on price, then are they willing
to accept terms?
Right.
So that's like part of thepitch right there.
Hey, you know why?
And we even have follow upcampaigns going in like this right
now.
Hey, you know, Mr.
Jane Doe or John Doe or whatever.
Hey, I.
(04:56):
We noticed that our cash offerfor you a couple weeks ago didn't
quite work out.
If we were able to hit thatcash offer or I mean, or that price
that you were looking for,would you be able to do terms with
us or would you be willing toexchange terms?
So it gets them open to belike, well, I, I am pretty fixed
on the price, but what can you do?
So at least you're able to getthat door open that was per.
(05:17):
That was just closed.
Yes.
Let me ask you this.
On your pitch, do you leadwith the creative or do you lead
with the cash offer?
We always go in first cash.
Got it.
So you bring in the lowerfirst cash.
Because it also does a reallygood job in anchoring expectations.
Of course.
Yeah, it sets up, it sets upcreative financing really well on
the back end that if like, saylike a house that we know is worth
(05:39):
like 300 and we came in and weanchored at like 180, my creative
financing solutions after thatare going to seem much more appealing.
They're going to love it.
They're going to, they thinkyou're the man.
So.
So how about this?
On a lot of the creativefinancing deals you're doing, are
they, do they have a ton ofequity and you're just able to negotiate
them not getting all of it ora lot of these people have little
equity.
And it's easy because you'rebasically able to get their equity
(06:01):
out just by doing the deal.
It's a mixed bag.
It's literally a mixed bag.
We have certainly found outthat the more equity comes in, I
would say the multifamilyworld, if you're dealing with single
families, they're not going tousually have as much equity.
Yeah.
Because right here in Utahit's pretty difficult.
Depreciation was so high.
Right.
So a lot of people have like200, $300,000 of equity.
(06:22):
So when you do you presentterms, they're like, yeah, where's
my, all my money though?
You know, like I need thatmoney out.
And what would you say tosomeone like that?
Let's say, let's do a roleplay or just like a scenario.
I have $80,000 of equity and Ihave a big problem at this current
offer you're giving me.
It's $80,000 equity.
How would you say, how wouldwe get.
You get past me wanting all that?
(06:43):
Because no, not a lot of sellbuyers are going to give 80k equity.
That's, that's more than adown payment.
Right?
Right.
So I would, I would want tofirst find out why do you need that
80k?
So okay, let's have a scenariolike this.
Finance 2.99%.
She wants to do it, but sheneeds like 50k of equity.
But her house is trash.
(07:05):
So someone would put 50, haveto fix the whole thing up.
And the house is in pre foreclosure.
So on top of the 50, she'sbehind 12.
So no one's coming in,bringing in 62 and then putting 40
into a house.
I mean there's, they're in waytoo much, right?
Well, I don't know.
I don't know where themortgage is at.
I don't know what it'sprobably worth.
So I've ran the numbers.
I look at this one, it's.
It's a situation where likethe house is pretty much almost gone.
(07:28):
Like it's, they're upside downso much they have a solar lien on
the house.
So on top of that you gottapay the solar, there's debts, it's
crazy.
But anyway, in this situation,let's just say I have 80k, I need
to sell because my son's in jail.
And let's just do thisscenario, okay?
Hey, look, I need the 80k.
I gotta pay off my son's debts.
I, I lent him money, My sonlent him money.
(07:50):
We want to get paid back.
He's going to be in jail forfive years.
I'm not going to see him.
We need the 80,000 to pay offwhat he owes.
And we also, you know, we wantto make some money.
Hey, I totally get it.
I understand why and those areall very valid reasons.
The only issue that I'm havingcoming up with the 80,000 for you,
Nate, is really that after Ihave to go in and do any repairs
(08:11):
and any fixing up of anexpenses or paying off any existing
liens, I will now be in yoursituation where I might have to go
behind on my mortgage.
So I understand that you want80,000, but is there something that
you would feel comfortablethat would at least be able to get
you to get a lot of thoseburdens off of your plate, that we
could still come up with asolution where we're able to get
(08:33):
this off of your plate, andthen we're also in a situation where
we could be able to continuemaking the payments for you.
Well, you know what?
Maybe if you could do, like.
Maybe I could come down alittle bit.
Maybe like 50.
If you.
I could trim it down to 50.
I'm at the house right now.
I've been getting a lot ofcash offers at, like 200,000.
I don't want to sell it for that.
I want.
(08:53):
I want 2:30 for it.
I want 2:30 for the house.
I owe 180.
With all my fees, all that.
That's.
That's why I'm really tryingto get.
I could do 230, and if yougive me 50k of my equity up front,
I'd be able to pay everythingoff and I'd be out of here.
Well, I'll tell you what, Nate.
We're making.
We're making some really good progress.
I'm gonna make sure thatwhatever we come up with, you have
(09:13):
to.
You're at least coming out out of.
You're not coming out of pocket.
We're at least trying to helpyou out with being able to pay for
any of those.
So you mentioned a couple ofdifferent circumstances with your
husband or your.
Your child going to jail.
What do you think that isgoing to be, to be able to get them
out?
So it's not necessarily them going.
They're not going to get out.
It's.
It's more that they left a lotof debt behind that, you know.
(09:33):
Oh, I see.
I see.
And is the debt attached toyou guys as well, or is it only his
debt?
It's just him just.
But we want to be able to helphim when he gets out, not be swamped
in debt.
Right.
That's kind of our goal.
And we got to get paid back.
I mean, I give him a ton of money.
I did.
So.
And to be honest, like, I'veeven come to a point where I might
just even let the house go.
Just.
Yeah, because I.
(09:54):
It's such a big headache forme, and I don't even care, like,
if I don't get at least 50, ifyou give me, like, 10 or 15, I'll
just let it go.
I don't Even care.
I totally get it.
Those are a lot of.
Those are a lot ofcircumstances that are on your plate.
What we can to be able to dois let's get up, make sure that we
have all your expenses lined up.
Because the last thing youwant on this one, Nate, is that you
(10:14):
guys go into a foreclosure situation.
You're not going to make anymoney, and now you're going to have
absolutely trash credit for atleast the next 10 years.
And it's going to be verydifficult for you to be able to,
say, buy another house whenthat opportunity is right or in another
situation, even to just gorent a property.
It's going to make all thesesituations for you much heavier if
(10:35):
you decide to go forward witha foreclosure.
Yeah, I honestly, I don'tthink my.
My son is going to be able tobuy another property ever.
Even.
Even if we saved it.
I mean, you know, he's got it.
He's a felon.
He's got that on his record.
You know, he's got terriblecredit right now.
I don't think it ever can beable to, you know, five years.
It's not going to be able toget recovered.
I feel I don't know what to do.
Right.
(10:56):
And believe me, I totally get it.
It's.
It's not an easy situation.
But the last thing you want tobe is the anchor that's dropping
down, and now you can't savehim either.
And now you're both going down.
Yeah, I hear you.
So.
So, Nate, let's.
How about this?
I'm going to write down allyour expenses.
Let's make sure that we getthat covered for you, and we have
a little bit of cash in yourpocket to be able to at least get
(11:19):
out of this property in this situation.
So, A, you don't have a creditimpact, B, you don't have to go through
a foreclosure.
And then see, we just takethis headache off of your plate.
How's that sound?
Sounds good.
Let's write it all down.
Great job.
I love it.
Yeah.
So this situation that I wasreplying, replaying, I have a great
relationship with the lady.
I offered her 15, and she'slike, that won't even cover anything.
(11:40):
I'm just gonna let it go.
And I talked her for like an hour.
I did this live, and she just, like.
She came to, like, a point inher mind where she was just like,
done, you know, And I'vecalled her multiple times.
We've talked, but she's justlike, look, I think my son got himself
in a terrible situation.
I don't even give a pump anymore.
I'm done.
Like 15k doesn't even doanything for me.
So that's kind of where I'm atwith her.
And it's, it's a really,really bad house.
(12:01):
Like the house is destroyed.
So it's like an 80k rehab ontop of someone having to come in
with 15, catch it up, which is 12.
Yeah, it's a bad spot.
So we're almost like, hey,let's just watch this thing.
Wait, wait till it gets to auction.
And then the liens will bewiped out.
Maybe we can buy it.
But I think what you're doing, it's.
A tough situation because whatyou want to ideally be able to do,
(12:22):
of course is help them get outof some of the financial burden.
But we have, we have the solarpanel issue in Florida all the time.
It is the, the biggest multilevel marketing scheme I, I've ever
seen sweep the nation.
Besides maybe reversemortgages, man.
It's crazy.
Yeah.
And they can put liens on the houses.
You got to pay them off.
(12:42):
It's crazy, man.
Yeah.
Assuming it.
Or you have to.
Or you have to assume it.
And that's a couple hundreddollars themselves.
And that is a big obstaclehere in Florida.
If you are trying to dosubject to.
It's making sure youunderstand all the other additional
mortgage or liens that areattached to something like that.
So you deal with a lot of thatwhere they, you have to.
Whoever either you're takingon the mortgage or someone else is
(13:04):
wrapping it, they have to Iguess assume the solar.
Yeah.
Yeah.
So we always make sure that wehave the, we have at least the company
that they've gone through.
We have a conversation with it.
Hopefully they have a contract.
Contract's a lot easier andmore times than not.
Most of the solar panelcompanies, as long as you give them
not they're assumable.
Okay.
Is that a hassle?
It sounds.
Oh, it's such a hassle.
(13:27):
Check this out.
So there was one lady who diedand her, her daughter inherited it
and they would not talk to her.
The solar company would nottalk to her daughter, wouldn't talk
to us who bought the house.
But luckily they went throughbankruptcy and it wiped out the solar
lien and they, so we didn'thave to pay it off.
So.
Oh man, that's, that's a lot.
Was extremely lucky, man.
These solar people are like,sorry, we can't talk to you.
(13:48):
We're like dude, the person's dead.
And they're like, well, weneed a power of attorney.
I'm like, they're dead.
They can't do a power of attorney.
And they're like, it's likeyou're dealing with very low level
people that you have to gothrough that.
Yeah, they're like bill collectors.
Oh, dude, it's.
It was rough.
But anyway, hey, we veered off.
But hey, I think this is greatcontent, man.
That's what people want to see.
Yeah, man.
Hey, I listen, these, theseare the types of conversations that
(14:10):
we're having every day.
There's.
We have to understand.
You know, I love that youbrought it up.
Like, this person is justfeeling like they're drowning.
Right.
And that's, and that's when Ibrought in, like, don't be the other
part of that anchor that goesdown with your son.
Right.
You got to get back to like,you let this go.
There is no salvation forhelping him out on the other side.
Yeah.
And it seems like you havethat conversation a lot.
(14:31):
Just like, hey, don't, don'tbe the reason why this guy is screwed
for his life.
You know, he's already in abad spot.
But she's almost at that pointwhere she's like, oh, I don't even
care.
He can deal with it.
It's like, you're reallyputting him in a tough spot.
When I'm willing to take this over.
Right?
Yeah.
The subject to ones, ofcourse, you know, you have to be
able to understand what'sgoing on with that.
The ones I like, really, really.
(14:53):
These are like my bread and butters.
Are being able to createprincipal only seller finance deals.
That is in my world, like heaven.
That's my real estate heavenis being able.
They would, they would have toown the property outright, correct?
Yeah, they would have to ownit outright.
My avatar for it is peoplethat are multifamily investors that
(15:14):
have high equity in a property.
I can bring in partners if Iwant for down payment reasons or
any kind of rehab reasons, andit's still going to cash flow in
a fantastic way.
That's amazing.
So you're able to give them,convince them to take principal only.
No, they don't want any interest.
Oh, man.
So.
So I'm going to be, I'm goingto be coming on a couple of different
(15:34):
podcasts coming up soon andI'm going to be sharing with people
a lot of, like a triple offerapproach that I, that I've been able
to.
I would say I would love toSay master, but I've gone just.
Let's just say I'm really goodat it.
And the triple offer approachthat I've been able to create is
being able to come up withsolutions that no matter what, works
for the buyer.
(15:54):
And now the seller is beingable to come up with a solution that
works best for them.
But at the end of the day,right, just like those game shows,
what's behind all these doors?
It's always us.
We're the person behind every door.
Dang.
Well, hey, where can we catchyou on those other podcasts when
you drop that good info?
Yeah.
So I'm going to be dropping onJoe McCall's next week.
Him and I have already beenstrategizing with that one.
(16:17):
I'm doing one, I think,tomorrow with Neil Timmons, who's
based out of Idaho, and he isa monster.
Nobody even knows about Neil.
Neil's been doing a crazy goodjob over there.
I actually met him throughanother mastermind as well.
And you just find out somegreat people and, and being able
to come up with like, say,like, like I said, the triple offer
approach is something where weanchor them low with cash and then
(16:40):
we bring them up to a reality of.
Of a.
Of our principal onlyapproach, and then that seems like
salvation.
Wow.
I freaking love it, dude.
Well, hey, man, I think anyonethat's watched us today has got a
little taste of how creativefinancing can help them, you know,
maximize their conversions.
Right?
Because if you're just makinglow offers right now, you're.
You're shooting yourself in foot.
Good luck doing deals.
You need to be able haveeverything right, like creative novation,
(17:03):
fix and flip wholesale, wholesale.
You gotta know it all right.
A hundred percent.
Yeah.
And so when, when Covid wasfirst happening, I had the, like,
the realization like, oh myGod, this is it.
This is like, I've beenlearning about all this stuff with
creative financing, and I'mlike, this is the opportunity.
Because at that time,everybody believed that there was
gonna be this just humongous,like, tidal wave of foreclosures
(17:25):
about to happen.
But of course, what they didwith the forbearance program, they
just tacked it all in the end.
And there was nowher what we expected.
But, you know, I was, I wasprepped and ready, man.
I was going through material.
I was practicing role playswith my teams.
I was also being able to dothis live with sellers.
And we started.
We started structuring a lotof subject to deals.
We were also, like I said, westarted building that muscle for
(17:48):
the Seller financing deals.
And it's been pretty damn awesome.
Yeah.
And do you feel like there'sgoing to be a wave of foreclosures
coming soon?
I don't, I don't know exactlyabout waves, but I certainly think
there will be.
I think we have to see what alot of these bigger S&P 500 companies
are about to do.
They've been giving theindicators that they're going to
(18:09):
do layoffs.
Yeah.
And if these big, bigcompanies are about to do layoffs,
I think that will be the firstdomino that really.
Well, not, I guess I can't sayreally the first domino.
But with everything being asinflated as it is, it doesn't even
have to be interest rates.
Interest rates are the obviousone in real estate.
Right.
But I mean, you can't even goto a grocery store and not drop a
(18:30):
hundred dollars for like twodays of meals.
Right.
Crazy, man.
Carton of eggs is like five orsix dollars.
It used to be a dollar fiftylike a year ago.
Yeah, man.
Gas is all time highs.
My wife, she, we had chickensand we raised them for like four
years and she just sold thembecause she's like, I'm tired of
these chickens.
We need.
We should have kept thechickens for the eggs.
(18:50):
They're too expensive.
Yeah, man, that's, that's acouple, that's a couple of weeks
of meals, man.
Man, I'm like, babe, come on.
Wrong time to sell the chickens.
We had eight of them becauseshe, my wife's like a little, she
loves.
Like she little farmer, alittle hen house, huh?
Yeah, we have, we havechickens, we got like pets, we got
garden, we got it all.
So anyway, dude, it's fun chatwith you and I'm sure we'll, we'll
(19:12):
cross paths again.
And anyone that listened tothis podcast, I'm sure they got a
lot out of it.
So David, how can they reach you?
I know you got your phonenumber, but how else can the.
Anyone that tuned in reach you?
Sure.
Yeah.
So of course, you know, one ofthe biggest ways is through social
media.
You could find me throughFacebook, Instagram.
I am now on TikTok too.
You can find me under David Pupa.
(19:33):
There's like five of me in thenation in my handle.
My handle on Instagram isDollars with David.
And yeah, I'm posting contentout there every day.
If not, reach out to the phonenumber and then an email is davidyfloridahousebuyer.com
but yeah, man, it's easy.
Just, just reach out to me.
I'VE also been really pushinga lot harder on being able to help
(19:53):
people out with the JV dispoprograms because that was also an
operation I thought was goingto be needing a lot of process oriented,
like just structure to it toget maximum exposure.
Because as we mentioned, youknow, the flippers are sitting to
the wayside.
So how do we get all theseother investors still buying properties?
100%.
100%.
Well, I love it, man, andappreciate you providing value to
(20:16):
the crew, the investor Thrive Nation.
Yeah, absolutely, man.
Thank you so much for having me.
It was really fun.
Hey, I love that we jump intorole plays.
I do them with our team everymorning, so it's always fun to do.
I'm a role playing fiend, dude.
That's the way to grow.
Like, yeah, everybody thatwatches me, it's like, look, sales
skills is not.
You're not born just being amaster salesman.
You practice.
Practice makes you better.
(20:37):
Right.
So role play, Absolutely.
That's.
That's how you master.
I mean, you do it every day,so you know how it is.
Absolutely.
All right, guys, we're out.
Peace out.
Thanks, guys.
Appreciate it.
Sam.
If you want to save time andlearn how to invest in real estate
faster, go toinvestorthrive.com to master the
sales process from ourtraining so you can close more deals
with less leads.
Even if you're only doing thispart time or if you don't know where
to start and need help, giveme a call at 385-398-9862 and let's
chat.
What is going on, everybody?
(00:21):
We are live here at thePainless Wholesaling Podcast with
my man David Puppo.
He even put his number inthere for you.
You know where to find me.
Dude, give this man a call.
And you guys probablywondering, okay, you know, if you
haven't heard of him, whyshould I give him a call?
Well, that's why I brought himon here to explain why he is the
go to guy to give a call aboutseller financing.
(00:42):
Is that right?
You're helping people maximizetheir conversions right now?
Yeah, absolutely.
We've seen it in a lot of, alot of in our business.
And you know, I was having,heck, just conversations with some
of the local people here inthe Orlando market that are struggling
to understand how to get.
They know there's motivationto the seller, but the seller is
asking a little bit too muchmoney where, say, like a cash offer
(01:04):
isn't going to make a lot ofsense to them and they're having
a hard time structuring orfinding out how to be able to tap
into what a seller motivatedseller is.
Dang.
Well, hey, man, I first, I gotto say, it looks like it's pretty
warm over there.
You got the nice little Tshirt on the window.
A little cracked, it looks like.
Is the weather pretty good there?
Oh, it's in the low 80s right now.
It's great here in Orlando.
(01:25):
Get out, man.
I'm in Utah.
It's snowing.
I got my jacket on.
It's cold.
Yeah, I might have to wearthat maybe like a week out of the
year.
Like paradise right there.
Well, hey, so for the peoplethat don't know who you are, who
is David Puppo?
Can you tell us a little bitabout who you are?
Yeah.
So as you just mentioned,David Puppo, I'm here in the Orlando,
(01:47):
Florida market, but ourwholesaling business handles statewide
for Florida.
We're in a couple of other markets.
We've been in Tennessee, NorthCarolina, Georgia, and honestly,
just I've, I've enjoyed a lotof real estate investing.
I've been able to get aportfolio myself.
So I have a couple ofmultifamily you know, when the property
is right.
(02:07):
I wouldn't call myself fix andflipper, but the property is right.
I'm going to, I'm going todefinitely make sure we can capitalize
on it.
Nice.
I feel like everyone thoughtthey're a fixer flipper over the
last two years because youcould take anything and vacuum the
house and sell it, you know?
Yeah, yeah.
Everybody had the Midas touch,right now.
Now that thing is like a.
Like a black thumb.
(02:28):
Exactly.
So tell us, everyone's facingthis right now.
How are you maximizing thoseconversions when you know, you have
those sellers that still wanta lot for their house and the buyers
are like, I ain't paying a lot.
What are you doing?
Yeah, yeah.
So in, in our wholesalingoperation, we've seen buyers 15 to
20%, especially for flipsacross the board, asking for those
(02:51):
kind of decreases.
The ones with rentals, they'rea little bit still standoffish, but
nowhere near to what theflippers are.
The flippers are people thatare certainly, they're going into
hibernation for a little bitor they want it at too good to be
true prices.
So, yeah, so what we've beenable to just do when, when it comes
to the sellers, right.
(03:12):
So we want to always make surethat the sellers have somewhat of
a motivation.
Why do they want to sell atthe end of the day is going to be
the most priceless thing.
You know, we can establishtimelines with them.
We can of course understandwhat the condition is of the property,
but it always comes back toreally the pricing and the motivation.
(03:32):
So what we've been always ableto do is just, you got to start understanding
what are the biggestpriorities for this person.
And that is how we contour a solution.
So like say, for example, ifyou're saying price is the top one
for them and then maybe like,like a convenience option, we're
going to always make surethat, well, hey, why don't you list
the property, right?
(03:52):
So you want to do a little bitof a reverse psychology, push it
back on them and find out whywould they list it or not list it?
Sometimes they don't want todeal with a realtor, Right.
So from there, if price istheir top priority, there's only
a couple of different optionsthat you can provide to them.
A realtor, creative financing,or there's obviously a newer structure
with novations.
We've done a fair amount of those.
(04:14):
We've learned from a couple ofgreat people like Corey Geary, Eric
Brewer.
Those are some of the top people.
I know Pace Morbi has a reallygood section in his course for Novations
too.
So we found out really a nicelittle sweet spot when it comes to
the creative financing.
That's awesome.
And I love that.
So what's happening right nowis you're running into sellers who
(04:35):
are motivated, but they won'tmove on price.
Right, Right.
So.
So if they're not willing tomove on price, then are they willing
to accept terms?
Right.
So that's like part of thepitch right there.
Hey, you know why?
And we even have follow upcampaigns going in like this right
now.
Hey, you know, Mr.
Jane Doe or John Doe or whatever.
Hey, I.
(04:56):
We noticed that our cash offerfor you a couple weeks ago didn't
quite work out.
If we were able to hit thatcash offer or I mean, or that price
that you were looking for,would you be able to do terms with
us or would you be willing toexchange terms?
So it gets them open to belike, well, I, I am pretty fixed
on the price, but what can you do?
So at least you're able to getthat door open that was per.
(05:17):
That was just closed.
Yes.
Let me ask you this.
On your pitch, do you leadwith the creative or do you lead
with the cash offer?
We always go in first cash.
Got it.
So you bring in the lowerfirst cash.
Because it also does a reallygood job in anchoring expectations.
Of course.
Yeah, it sets up, it sets upcreative financing really well on
the back end that if like, saylike a house that we know is worth
(05:39):
like 300 and we came in and weanchored at like 180, my creative
financing solutions after thatare going to seem much more appealing.
They're going to love it.
They're going to, they thinkyou're the man.
So.
So how about this?
On a lot of the creativefinancing deals you're doing, are
they, do they have a ton ofequity and you're just able to negotiate
them not getting all of it ora lot of these people have little
equity.
And it's easy because you'rebasically able to get their equity
(06:01):
out just by doing the deal.
It's a mixed bag.
It's literally a mixed bag.
We have certainly found outthat the more equity comes in, I
would say the multifamilyworld, if you're dealing with single
families, they're not going tousually have as much equity.
Yeah.
Because right here in Utahit's pretty difficult.
Depreciation was so high.
Right.
So a lot of people have like200, $300,000 of equity.
(06:22):
So when you do you presentterms, they're like, yeah, where's
my, all my money though?
You know, like I need thatmoney out.
And what would you say tosomeone like that?
Let's say, let's do a roleplay or just like a scenario.
I have $80,000 of equity and Ihave a big problem at this current
offer you're giving me.
It's $80,000 equity.
How would you say, how wouldwe get.
You get past me wanting all that?
(06:43):
Because no, not a lot of sellbuyers are going to give 80k equity.
That's, that's more than adown payment.
Right?
Right.
So I would, I would want tofirst find out why do you need that
80k?
So okay, let's have a scenariolike this.
Finance 2.99%.
She wants to do it, but sheneeds like 50k of equity.
But her house is trash.
(07:05):
So someone would put 50, haveto fix the whole thing up.
And the house is in pre foreclosure.
So on top of the 50, she'sbehind 12.
So no one's coming in,bringing in 62 and then putting 40
into a house.
I mean there's, they're in waytoo much, right?
Well, I don't know.
I don't know where themortgage is at.
I don't know what it'sprobably worth.
So I've ran the numbers.
I look at this one, it's.
It's a situation where likethe house is pretty much almost gone.
(07:28):
Like it's, they're upside downso much they have a solar lien on
the house.
So on top of that you gottapay the solar, there's debts, it's
crazy.
But anyway, in this situation,let's just say I have 80k, I need
to sell because my son's in jail.
And let's just do thisscenario, okay?
Hey, look, I need the 80k.
I gotta pay off my son's debts.
I, I lent him money, My sonlent him money.
(07:50):
We want to get paid back.
He's going to be in jail forfive years.
I'm not going to see him.
We need the 80,000 to pay offwhat he owes.
And we also, you know, we wantto make some money.
Hey, I totally get it.
I understand why and those areall very valid reasons.
The only issue that I'm havingcoming up with the 80,000 for you,
Nate, is really that after Ihave to go in and do any repairs
(08:11):
and any fixing up of anexpenses or paying off any existing
liens, I will now be in yoursituation where I might have to go
behind on my mortgage.
So I understand that you want80,000, but is there something that
you would feel comfortablethat would at least be able to get
you to get a lot of thoseburdens off of your plate, that we
could still come up with asolution where we're able to get
(08:33):
this off of your plate, andthen we're also in a situation where
we could be able to continuemaking the payments for you.
Well, you know what?
Maybe if you could do, like.
Maybe I could come down alittle bit.
Maybe like 50.
If you.
I could trim it down to 50.
I'm at the house right now.
I've been getting a lot ofcash offers at, like 200,000.
I don't want to sell it for that.
I want.
(08:53):
I want 2:30 for it.
I want 2:30 for the house.
I owe 180.
With all my fees, all that.
That's.
That's why I'm really tryingto get.
I could do 230, and if yougive me 50k of my equity up front,
I'd be able to pay everythingoff and I'd be out of here.
Well, I'll tell you what, Nate.
We're making.
We're making some really good progress.
I'm gonna make sure thatwhatever we come up with, you have
(09:13):
to.
You're at least coming out out of.
You're not coming out of pocket.
We're at least trying to helpyou out with being able to pay for
any of those.
So you mentioned a couple ofdifferent circumstances with your
husband or your.
Your child going to jail.
What do you think that isgoing to be, to be able to get them
out?
So it's not necessarily them going.
They're not going to get out.
It's.
It's more that they left a lotof debt behind that, you know.
(09:33):
Oh, I see.
I see.
And is the debt attached toyou guys as well, or is it only his
debt?
It's just him just.
But we want to be able to helphim when he gets out, not be swamped
in debt.
Right.
That's kind of our goal.
And we got to get paid back.
I mean, I give him a ton of money.
I did.
So.
And to be honest, like, I'veeven come to a point where I might
just even let the house go.
Just.
Yeah, because I.
(09:54):
It's such a big headache forme, and I don't even care, like,
if I don't get at least 50, ifyou give me, like, 10 or 15, I'll
just let it go.
I don't Even care.
I totally get it.
Those are a lot of.
Those are a lot ofcircumstances that are on your plate.
What we can to be able to dois let's get up, make sure that we
have all your expenses lined up.
Because the last thing youwant on this one, Nate, is that you
(10:14):
guys go into a foreclosure situation.
You're not going to make anymoney, and now you're going to have
absolutely trash credit for atleast the next 10 years.
And it's going to be verydifficult for you to be able to,
say, buy another house whenthat opportunity is right or in another
situation, even to just gorent a property.
It's going to make all thesesituations for you much heavier if
(10:35):
you decide to go forward witha foreclosure.
Yeah, I honestly, I don'tthink my.
My son is going to be able tobuy another property ever.
Even.
Even if we saved it.
I mean, you know, he's got it.
He's a felon.
He's got that on his record.
You know, he's got terriblecredit right now.
I don't think it ever can beable to, you know, five years.
It's not going to be able toget recovered.
I feel I don't know what to do.
Right.
(10:56):
And believe me, I totally get it.
It's.
It's not an easy situation.
But the last thing you want tobe is the anchor that's dropping
down, and now you can't savehim either.
And now you're both going down.
Yeah, I hear you.
So.
So, Nate, let's.
How about this?
I'm going to write down allyour expenses.
Let's make sure that we getthat covered for you, and we have
a little bit of cash in yourpocket to be able to at least get
(11:19):
out of this property in this situation.
So, A, you don't have a creditimpact, B, you don't have to go through
a foreclosure.
And then see, we just takethis headache off of your plate.
How's that sound?
Sounds good.
Let's write it all down.
Great job.
I love it.
Yeah.
So this situation that I wasreplying, replaying, I have a great
relationship with the lady.
I offered her 15, and she'slike, that won't even cover anything.
(11:40):
I'm just gonna let it go.
And I talked her for like an hour.
I did this live, and she just, like.
She came to, like, a point inher mind where she was just like,
done, you know, And I'vecalled her multiple times.
We've talked, but she's justlike, look, I think my son got himself
in a terrible situation.
I don't even give a pump anymore.
I'm done.
Like 15k doesn't even doanything for me.
So that's kind of where I'm atwith her.
And it's, it's a really,really bad house.
(12:01):
Like the house is destroyed.
So it's like an 80k rehab ontop of someone having to come in
with 15, catch it up, which is 12.
Yeah, it's a bad spot.
So we're almost like, hey,let's just watch this thing.
Wait, wait till it gets to auction.
And then the liens will bewiped out.
Maybe we can buy it.
But I think what you're doing, it's.
A tough situation because whatyou want to ideally be able to do,
(12:22):
of course is help them get outof some of the financial burden.
But we have, we have the solarpanel issue in Florida all the time.
It is the, the biggest multilevel marketing scheme I, I've ever
seen sweep the nation.
Besides maybe reversemortgages, man.
It's crazy.
Yeah.
And they can put liens on the houses.
You got to pay them off.
(12:42):
It's crazy, man.
Yeah.
Assuming it.
Or you have to.
Or you have to assume it.
And that's a couple hundreddollars themselves.
And that is a big obstaclehere in Florida.
If you are trying to dosubject to.
It's making sure youunderstand all the other additional
mortgage or liens that areattached to something like that.
So you deal with a lot of thatwhere they, you have to.
Whoever either you're takingon the mortgage or someone else is
(13:04):
wrapping it, they have to Iguess assume the solar.
Yeah.
Yeah.
So we always make sure that wehave the, we have at least the company
that they've gone through.
We have a conversation with it.
Hopefully they have a contract.
Contract's a lot easier andmore times than not.
Most of the solar panelcompanies, as long as you give them
not they're assumable.
Okay.
Is that a hassle?
It sounds.
Oh, it's such a hassle.
(13:27):
Check this out.
So there was one lady who diedand her, her daughter inherited it
and they would not talk to her.
The solar company would nottalk to her daughter, wouldn't talk
to us who bought the house.
But luckily they went throughbankruptcy and it wiped out the solar
lien and they, so we didn'thave to pay it off.
So.
Oh man, that's, that's a lot.
Was extremely lucky, man.
These solar people are like,sorry, we can't talk to you.
(13:48):
We're like dude, the person's dead.
And they're like, well, weneed a power of attorney.
I'm like, they're dead.
They can't do a power of attorney.
And they're like, it's likeyou're dealing with very low level
people that you have to gothrough that.
Yeah, they're like bill collectors.
Oh, dude, it's.
It was rough.
But anyway, hey, we veered off.
But hey, I think this is greatcontent, man.
That's what people want to see.
Yeah, man.
Hey, I listen, these, theseare the types of conversations that
(14:10):
we're having every day.
There's.
We have to understand.
You know, I love that youbrought it up.
Like, this person is justfeeling like they're drowning.
Right.
And that's, and that's when Ibrought in, like, don't be the other
part of that anchor that goesdown with your son.
Right.
You got to get back to like,you let this go.
There is no salvation forhelping him out on the other side.
Yeah.
And it seems like you havethat conversation a lot.
(14:31):
Just like, hey, don't, don'tbe the reason why this guy is screwed
for his life.
You know, he's already in abad spot.
But she's almost at that pointwhere she's like, oh, I don't even
care.
He can deal with it.
It's like, you're reallyputting him in a tough spot.
When I'm willing to take this over.
Right?
Yeah.
The subject to ones, ofcourse, you know, you have to be
able to understand what'sgoing on with that.
The ones I like, really, really.
(14:53):
These are like my bread and butters.
Are being able to createprincipal only seller finance deals.
That is in my world, like heaven.
That's my real estate heavenis being able.
They would, they would have toown the property outright, correct?
Yeah, they would have to ownit outright.
My avatar for it is peoplethat are multifamily investors that
(15:14):
have high equity in a property.
I can bring in partners if Iwant for down payment reasons or
any kind of rehab reasons, andit's still going to cash flow in
a fantastic way.
That's amazing.
So you're able to give them,convince them to take principal only.
No, they don't want any interest.
Oh, man.
So.
So I'm going to be, I'm goingto be coming on a couple of different
(15:34):
podcasts coming up soon andI'm going to be sharing with people
a lot of, like a triple offerapproach that I, that I've been able
to.
I would say I would love toSay master, but I've gone just.
Let's just say I'm really goodat it.
And the triple offer approachthat I've been able to create is
being able to come up withsolutions that no matter what, works
for the buyer.
(15:54):
And now the seller is beingable to come up with a solution that
works best for them.
But at the end of the day,right, just like those game shows,
what's behind all these doors?
It's always us.
We're the person behind every door.
Dang.
Well, hey, where can we catchyou on those other podcasts when
you drop that good info?
Yeah.
So I'm going to be dropping onJoe McCall's next week.
Him and I have already beenstrategizing with that one.
(16:17):
I'm doing one, I think,tomorrow with Neil Timmons, who's
based out of Idaho, and he isa monster.
Nobody even knows about Neil.
Neil's been doing a crazy goodjob over there.
I actually met him throughanother mastermind as well.
And you just find out somegreat people and, and being able
to come up with like, say,like, like I said, the triple offer
approach is something where weanchor them low with cash and then
(16:40):
we bring them up to a reality of.
Of a.
Of our principal onlyapproach, and then that seems like
salvation.
Wow.
I freaking love it, dude.
Well, hey, man, I think anyonethat's watched us today has got a
little taste of how creativefinancing can help them, you know,
maximize their conversions.
Right?
Because if you're just makinglow offers right now, you're.
You're shooting yourself in foot.
Good luck doing deals.
You need to be able haveeverything right, like creative novation,
(17:03):
fix and flip wholesale, wholesale.
You gotta know it all right.
A hundred percent.
Yeah.
And so when, when Covid wasfirst happening, I had the, like,
the realization like, oh myGod, this is it.
This is like, I've beenlearning about all this stuff with
creative financing, and I'mlike, this is the opportunity.
Because at that time,everybody believed that there was
gonna be this just humongous,like, tidal wave of foreclosures
(17:25):
about to happen.
But of course, what they didwith the forbearance program, they
just tacked it all in the end.
And there was nowher what we expected.
But, you know, I was, I wasprepped and ready, man.
I was going through material.
I was practicing role playswith my teams.
I was also being able to dothis live with sellers.
And we started.
We started structuring a lotof subject to deals.
We were also, like I said, westarted building that muscle for
(17:48):
the Seller financing deals.
And it's been pretty damn awesome.
Yeah.
And do you feel like there'sgoing to be a wave of foreclosures
coming soon?
I don't, I don't know exactlyabout waves, but I certainly think
there will be.
I think we have to see what alot of these bigger S&P 500 companies
are about to do.
They've been giving theindicators that they're going to
(18:09):
do layoffs.
Yeah.
And if these big, bigcompanies are about to do layoffs,
I think that will be the firstdomino that really.
Well, not, I guess I can't sayreally the first domino.
But with everything being asinflated as it is, it doesn't even
have to be interest rates.
Interest rates are the obviousone in real estate.
Right.
But I mean, you can't even goto a grocery store and not drop a
(18:30):
hundred dollars for like twodays of meals.
Right.
Crazy, man.
Carton of eggs is like five orsix dollars.
It used to be a dollar fiftylike a year ago.
Yeah, man.
Gas is all time highs.
My wife, she, we had chickensand we raised them for like four
years and she just sold thembecause she's like, I'm tired of
these chickens.
We need.
We should have kept thechickens for the eggs.
(18:50):
They're too expensive.
Yeah, man, that's, that's acouple, that's a couple of weeks
of meals, man.
Man, I'm like, babe, come on.
Wrong time to sell the chickens.
We had eight of them becauseshe, my wife's like a little, she
loves.
Like she little farmer, alittle hen house, huh?
Yeah, we have, we havechickens, we got like pets, we got
garden, we got it all.
So anyway, dude, it's fun chatwith you and I'm sure we'll, we'll
(19:12):
cross paths again.
And anyone that listened tothis podcast, I'm sure they got a
lot out of it.
So David, how can they reach you?
I know you got your phonenumber, but how else can the.
Anyone that tuned in reach you?
Sure.
Yeah.
So of course, you know, one ofthe biggest ways is through social
media.
You could find me throughFacebook, Instagram.
I am now on TikTok too.
You can find me under David Pupa.
(19:33):
There's like five of me in thenation in my handle.
My handle on Instagram isDollars with David.
And yeah, I'm posting contentout there every day.
If not, reach out to the phonenumber and then an email is davidyfloridahousebuyer.com
but yeah, man, it's easy.
Just, just reach out to me.
I'VE also been really pushinga lot harder on being able to help
(19:53):
people out with the JV dispoprograms because that was also an
operation I thought was goingto be needing a lot of process oriented,
like just structure to it toget maximum exposure.
Because as we mentioned, youknow, the flippers are sitting to
the wayside.
So how do we get all theseother investors still buying properties?
100%.
100%.
Well, I love it, man, andappreciate you providing value to
(20:16):
the crew, the investor Thrive Nation.
Yeah, absolutely, man.
Thank you so much for having me.
It was really fun.
Hey, I love that we jump intorole plays.
I do them with our team everymorning, so it's always fun to do.
I'm a role playing fiend, dude.
That's the way to grow.
Like, yeah, everybody thatwatches me, it's like, look, sales
skills is not.
You're not born just being amaster salesman.
You practice.
Practice makes you better.
(20:37):
Right.
So role play, Absolutely.
That's.
That's how you master.
I mean, you do it every day,so you know how it is.
Absolutely.
All right, guys, we're out.
Peace out.
Thanks, guys.
Appreciate it.
Sam.
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