September 10, 2024 • 25 mins
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Joan & Jimmie talk about the email they received from a wholesaler who says he makes a shit ton of money and who is gonna police him if goes against the new law?
@Real-ishestate
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Episode Transcript
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Speaker 1 (00:00):
Hey, I'm Joan and I'm Jimmy and we are the Real-ish,
the Real-ish Estate Podcast.
We're excited to bring you thereal shit you need all things
real estate.
We don't, we're just gettingstarted, guys.
It's our first one, so we'reexcited to have you.
(00:20):
And so we don't have sponsorsquite today, today, but we do
have what we call shit from ourown fridge.
Do you want to pop this openfor?
Speaker 2 (00:29):
us.
Let's start this party offright.
Speaker 1 (00:30):
All right, that sounds great to me.
So everything real-ish iseverything that, or maybe
nothing that anyone talks about,right?
I don't know.
Real estate current highlights.
Let's take a peek um, what's upwith this week we talking
interest rates.
No NAR lawsuit, hell no mm-hmmmarket trends did you just get
(00:58):
your real estate license, orsomething?
Speaker 2 (01:01):
should I stage?
Speaker 1 (01:02):
okay, you're fucking done so kidding, listen, really
real talk, you guys.
It's not what we're about.
We're not going to really giveyou that.
I think you can Google that ormaybe watch everyone's TikTok To
find all that out, right?
So, in full disclosure, we'relicensed In many different areas
(01:23):
Agents, all things.
We're no lawyers.
We're licensed in manydifferent areas agents, all
things.
We're no lawyers.
We're no CPA, unless you are,because you have 20 jobs, no, ok
.
And so, guys, just remember,it's for entertainment purposes
only.
You guys are going to judge us,we're going to judge you, all
the things, and so we're justhere to to talk, really right
(01:45):
absolutely all right?
so, um so, real ish means thatwe can give you real advice.
Uh, jimmy, maybe we should tellthem about ourselves, right?
Why?
Why are we uh?
Speaker 2 (01:57):
why are we the real ish?
Speaker 1 (01:58):
yeah, let's, let's hear it absolutely so.
Speaker 2 (02:00):
we're the real ish because we've been doing this
shit for a long time, kind ofwinging it along the way.
Give you guys a little bit ofinformation about myself.
I've been doing real estate forabout five years now, started
off wholesaling.
We're going to be talking alittle bit about wholesaling
today.
Right, that's where I started,started doing rentals and flips
and all those fun things.
Wholesaling kind of just bodesitself to pretty much everything
(02:26):
.
So excited to read a lettertoday that we got about
wholesaling.
So yeah, that's a little bitabout me, joan.
Speaker 1 (02:34):
So fun fact.
Speaker 2 (02:40):
Hi, this is Kevin with the Quick Close team.
We're your off-market homebuyer connection for wholesalers
and homeowners to thousands ofcash buyers All over Virginia.
We're the connection to make tosell your house fast, with no
closing costs or repairs.
When you need a ton of work orget shape, we sell them all.
Go to the QuickCloseTeamcom orcontact us at 804-946-9986 to
(03:07):
get connected today.
Speaker 1 (03:13):
I didn't even know the difference between granite
and laminate.
Oh yeah, in 2013.
Speaker 2 (03:22):
Okay, all right.
Speaker 1 (03:23):
I'm like HVAC, what who?
I don't think I did either, so.
Speaker 2 (03:24):
I think that's okay.
2013.
Okay, all right.
I'm like HVAC, what, who?
And now I don't think I dideither, so I don't.
I think that's okay, you knowso.
Speaker 1 (03:28):
I didn't so since 2013,.
Right, so we're talking 11years in real estate.
Now I fucking tell everyonewhat to do and what to put in.
It's really fun.
It's been a fast track decade,and so I just do everything from
(03:48):
brokering to wholesaling tobuying holding you name it.
I do it If we can make money init real quick, we're going to
find a way, and I've done awhole lot right, made the top
percents of this and that, andso I am very well qualified,
jimmy, to judge the shit out ofpeople.
Speaker 2 (03:57):
Knowing you and being your friend.
I think that's a true statement.
Speaker 1 (04:02):
Yes, yes, okay.
So that's a little bit about usand we will bore you more,
probably next episode, becauseLibras love to talk about
themselves.
So we're going to we're going tocome back to that anyway.
So I guess the straight, let'sgo straight into it.
You guys All right.
So where you're going to see islooking at our phones, because
we receive letters and emailsfrom people that ask us advice
(04:23):
all the time.
So our goal is to bring theemails or questions to you so
you can help us judge others ormaybe help them, whatever works.
And we'll also be featuringguests on the show, all the
things, and hopefully a sponsor,so it's not from just our
fucking fridge Sponsored by ourfridge Sponsored by our fridge
(04:46):
and so anyway.
So we're going to start with theletter, talk a little bit about
wholesaling.
We're here for all of it, socomment all the things that
you're supposed to do on thesepodcasts, or if you're seeing a
reel, whatever it is, you shouldjust do it.
Give us something to do atnight in our woes after a long
real estate day, anyway.
(05:06):
So all right, jimmy, take itaway.
Speaker 2 (05:07):
You've got to read it for us Absolutely Wholesaling,
near and dear to my heart.
I'm excited to read this email.
So here we go.
We will name this wholesaling.
Am I the Asshole?
Okay, so I'm not your typicalreal estate agent.
I'm a wholesaler with a uniqueapproach to finding lucrative
investment properties.
I just need to find someone ina distressed situation and bail
(05:27):
them out quick.
Well, here's the thing.
I don't bother with real estatelicenses.
While people are dealing withregulations and paperwork, I
operate with the freedom andflexibility to get deals done
quickly.
Let's be clear my methods maynot be conventional, but they
get results.
I'm not afraid to bend therules and if it means putting
profitable deals within reach, Imake a shit ton of money and
(05:48):
make people a shit ton of money.
Okay, all right, we'll see.
Now Virginia is requiring areal estate license and I say
not going to happen and I'llfind workarounds.
Who is policing and who isgoing to stop me?
What will you guys be doing?
Signed am I the asshole?
Speaker 1 (06:05):
Ooh me, what will you guys be doing?
Signed.
Speaker 2 (06:06):
MI the Asshole?
Oh, that's a good one.
Is he the asshole?
Oh, man, that's a.
You know, this is your typicalwholesaler right Slinging and
just running through the motions.
And now that you knowVirginia's cracking down on this
stuff and putting regulationsaround it, I think people are
trying to be more creative.
So so what are your thoughts?
Speaker 1 (06:21):
Interesting.
So first of all, I think ifyou're in real estate, you're
probably the asshole anyway, Atleast to most people.
Even if not, if you don't wantto admit it.
Speaker 2 (06:32):
You will grow into an asshole at some point in time.
Speaker 1 (06:36):
Or many times a day, right.
So I think that I mean this isa really good one.
So this has been quite a buzzin Virginia which is like do I
get a real estate license?
Do I have to?
Are they policing it?
And I think the real answer isthat no one really knows, but
the governor just signed off onit.
So it's going to change a lotof people's business strategies,
(06:59):
whether you're ducking anddodging it or whether you're
going to go with the flow.
Whether you're ducking anddodging it or whether you're
going to go with the flow, I'mpretty sure that most people
have the same idea that this guydoes right, like what do I do?
Do I have to?
And who's policing it?
What's the wrong thing to do?
(07:19):
And so I think it's funny,though, right, he says I make a
shit ton of money, right, sothat might make you an asshole,
he says I make a shit ton ofmoney, right, right, so that
might make you an asshole.
You probably should bebenefiting everyone in the deal,
but whatever To each his own.
Whatever puts your boat,Whoever I'm the asshole is, we
buy houses, so you can be anasshole and call us with your
deals Right.
Speaker 2 (07:38):
Absolutely Call us.
Speaker 1 (07:40):
So anyway, but I think that, so I do both.
I'm licensed, as you know,jimmy, and I will assign a
contract.
I buy them too, and it's not myprimary business.
But sometimes you have to pivotand it hasn't really got in the
way of me doing business.
I mean, I think that there's anextra ethical thing that you're
(08:01):
bound by, right, but you'reeither a shitty person or not.
Anyway, I don't think a licensewill change that.
So I've been pretty successfulat it and it hasn't stopped me.
What do you think?
Because you don't have alicense?
Speaker 2 (08:13):
Yeah, I don't have a license in the process of
getting it.
But you know, obviously there'sgot to be a little bit more
creativity.
I still think there's plenty ofopportunity to make it work and
not be a shitty person.
Not saying this person is, Ithink they're just, you know,
kind of going through themotions like a lot of people are
trying to figure out how theycan still make a shit ton of
Money but still, you know, makeit work.
You know, for them financiallyit sounds like they're killing
(08:33):
it.
Um, so I mean, I think you knowI've heard about people double
closing.
They want to do double closingand maybe paying fees and all
kinds of other structures.
But there's definitely somegray areas, because I think
nobody really knows right at theend of the day how they're
going to crack down on this, howthey're going to police it.
And I look at it like kind oflike tax evasion, right, like a
lot of people avoid taxes andit's like, oh, it's cool that I
haven't gotten in trouble yet,right until you do.
(08:55):
So.
I think it's the same thing.
As they bend the rules, it maybe something that later on, you
know, things start changing andthey crack down and they may not
feel that burn right away andthere's tax avoidance and then
evasion right and avoidance islegal yeah, so maybe the same
kind.
I don't know.
I'm not telling you I'm doingthis is we're definitely not
(09:16):
attorneys.
Do it, but you can.
Speaker 1 (09:18):
There's there is, there's workarounds, there's
double closings.
I recently sold my LLC.
That's another good idea.
Speaker 2 (09:25):
Yeah, another good thing that people are doing.
Speaker 1 (09:27):
We basically assigned our LLC to someone new, and
$500 to do that, to make thatkind of transition happen
because we needed to, and sothat was because I got it under
contract with just this oneparticular address LLC, right, I
think there's lots of thingsthat people do already.
(09:48):
So now, what makes it illegal?
Right, I think they said overtwo a year, right, but you know,
double closing LLC, like Idon't know, and I don't know if
those are OK or not.
Speaker 2 (10:00):
Right.
Speaker 1 (10:00):
I think everyone's going to wing it in July.
I think everyone's going towing it in July and it's going
to be this huge shit show.
I will say this, jimmy I thinkthere's some real estate agents
who have been waiting for thisto happen so they can turn that
ass in.
Speaker 2 (10:12):
Oh yeah, absolutely yeah.
I do think, just kind ofjumping in, that it's going to
level the playing fieldsubstantially.
I mean, I've been reached outto by a bunch of my colleagues
who are wholesalers, and a lotof the good ones right are like
oh, I'm going to get my license,I'm doing it now, I'm doing it
the right way, because theydon't want to worry about any of
(10:33):
that shit at the end of the day.
But then there's some folks arelike nope, I'm just going to do
what I've been doing, like myguy here on the email.
Just fly underneath the radarand just see what happens, and
they might be totally fine orthey might, you know, who knows,
somebody might come knocking atthe door.
I have no idea, but we'll seehow it shakes out in July for
sure.
Speaker 1 (10:47):
It will.
Also, I'd like to point outthat there is a difference.
It only requires you to be alicensed real estate agent, not
a realtor, and most people don'tknow that's two different
things.
Speaker 2 (10:57):
There's two different things, yeah.
Speaker 1 (10:58):
So you don't have to be associated with NAR and MLS,
and if you are, it is going toput a stop to a lot of your
off-market marketing becausethere's all these extra filters.
So, if you do get your realestate license right, I think
that you have to keep in mind ofwhat firm you're joining and
what your goal is.
Absolutely, if it's just tohave it to wholesale, you
(11:19):
probably want a non-affiliatedNAR license agent, right, right.
And if you're going to utilizeMLS and like, okay, now I'm
pivoting and I'm going to be arealtor, you know.
So I think people should dotheir research and and they can
figure that piece out.
But to you know, dude to answeryour question though, so let's
(11:43):
answer it.
You know, are you an asshole?
I would say yes, because youask.
Speaker 2 (11:51):
If you have to ask the question, you can probably
take it.
Speaker 1 (11:54):
You're a big asshole.
Do you have to get your license?
I mean, I don't know.
I think a lot of people aregoing to pivot their business
and that's none of my business.
Who's going to police it?
I think I don't know.
That's a good question.
Speaker 2 (12:09):
That is a good question.
Speaker 1 (12:10):
So other agents are going to turn you in.
Other wholesalers are probablygoing to do that.
Right, Haters, that's who'sgoing to police it?
Speaker 2 (12:18):
And this is a serious question.
And this is a serious question,like I see this, like there's
kind of this secret society ofyou know hating and I wonder how
that's going to kind ofmanifest itself.
And you know, july, like somepeople that you think is your
buddy, like all of a suddenyou're like your competition,
even more so.
So now it's like okay, shouldwe turn this guy?
Speaker 1 (12:37):
in or doing some shady business, or how that's
gonna show up in July.
I think that that it's going tobe interesting.
We should redo this again inabout the fall and just write
and revisit.
It's going to be reallyinteresting, just because
typically what happens is whenthere's a change, people panic
(12:59):
and make it way worse than it isA hundred percent, and I'm here
for the shit show and all theassholes and the haters who turn
people in, and that's why it'simportant to already be ready.
So we had already been readyfor this and we were already
ready to pivot because we knewit was coming Right.
So, so, yes, yes, am I theasshole?
(13:20):
If you'd like to send afollow-up email or letter in?
Yes, you're an asshole, is theanswer.
And again, just because you ask, Yep.
And the fact that you put inhere you made a shit ton of
money tells me you didn't.
Mm-hmm, okay, there's that.
But you guys tell us what youthink, right and you know.
(13:43):
So this is great.
So wholesaling right, we're pro.
Wholesalers, right, we're pro,we do it.
And so we'll just, we'll justwait and see so this is Jimmy.
Speaker 2 (13:52):
I think this is a great first letter, yeah, and I
think this will be the first ofmany that are like this.
This is just such a hot topic.
Like I said, wholesalers are.
You know.
A lot of them were freaking out.
Some of them were getting readyfor this and working towards
their license because it justbodes itself to, you know, to
getting your license.
I've got a question for you,though.
I've seen a lot of agents kindof jump around to different
(14:14):
brokerages.
Do you think that certainbrokerages are going to be more
pro-wholesale than others?
Speaker 1 (14:20):
Oh, a thousand percent.
I mean they already tell youcan't do it now.
In a lot of them I mean, andthink about this, because you
know I own a couple Small right.
I'm not that girl I want to be,you know sign up, so I can be,
but I think it's about liability.
And so when you talk aboutwholesaling, there's a really
fine line in ethics, right,Because what happens when you
(14:40):
talk about wholesaling, it'sthere's a really fine line in
ethics, right.
Because, what happens when yousay when someone looks at you
that's about to lose their houseand you know they have a lot of
equity and they look at you andthey say am I making the best
decision?
Am I making the most money?
And you're a wholesaler, how doyou answer that question when
(15:02):
you know the answer is no?
Because, let's be real, we knowthe answer is no and so you
have to answer that honestly.
It doesn't mean you have tochange what you're doing, but
you have to be ethical, right,and I will tell you that I have
lost a lot of deals from buyingthem and flipping them to just
(15:24):
when you meet someone and going.
You know, Sarah, I think reallyyou're better off listing, and
let me create a bidding warbecause I have a license and I
know what their best bet is.
Right.
And then, honest to God, though, some people don't belong on
the MLS, we're right about that.
Speaker 2 (15:41):
We've walked through that, oh yeah.
Speaker 1 (15:42):
And so I'll be honest .
What I try to tell people isthis is the easy button and this
is the make more money button.
Which one do you want to push?
Right, so you can still do yourjob?
But that's why I think a lot ofbrokerages say no, because it
takes a special kind of personto not go.
Whew, I'm not going to make 40K, I'm only going to make 9K.
Speaker 2 (16:06):
Exactly, that's a hard pill to swallow for anybody
.
Speaker 1 (16:09):
So I think that's why most of them say no, there are
plenty, and I can't speak foranything outside of Virginia but
there are plenty of brokeragesthat will let you.
We will let you, and I know alot of smaller brokerages that
are investor-friendly will letyou.
We will let you.
Uh, and I know a lot of smallerbrokerages that are investor
friendly will let you.
So I think that's what peopleshould do is start.
I would interview the smallerbrokerages.
(16:31):
They also offer more investorexperience than the larger ones.
Speaker 2 (16:35):
I've seen that for sure.
I've seen that for sure.
You talk a lot about theliability piece and people
losing their houses.
I actually had a deal recentlywhere a lady was basically
facing foreclosure and it wasdefinitely a wholesale
opportunity, right.
It basically had no mortgagebalance.
(16:55):
Know, it really pulls on yourethical strings because you can
obviously there's a ton ofequity there, you don't owe much
and then it's a situation likewhat do I do?
I want to lose my house and Ican just see so many wholesalers
, kind of you know, glazing overme like, man, I can make a
killing on this, mm-hmm.
So being a part of a broker islike you have to almost train a
thought, so to speak, and likeis this really the right thing
(17:17):
to do?
And I think that's just in youinnately, or you know what I
mean.
So I don't feel like a licenseis going to change that about
certain people.
So I just wonder how that'sgoing to shape out with
wholesalers that you know, kindof have that gray area mentality
and it's just a lot of peoplethat need help but there's a lot
(17:38):
of opportunity to takeadvantage of that too.
Speaker 1 (17:39):
Yes, it is, and I think that is you know, jimmy
perfect, because that is why nowthere's a license requirement.
It's because before youcouldn't hold people accountable
for screwing people over.
But with a license you can holdpeople accountable, and just
because you make a lot of moneydoesn't mean that you took
advantage of someone.
That's not it right, um?
But it does happen a lot, youknow, um, I've gotten the calls
where the old lady was hadnowhere to go because the
(18:03):
wholesaler just wiped them out,just didn't give them a chance
to move, and force the contract.
They didn't understand it, andso I think that you know that's
why they're here.
So the last man standing right.
Like it'll be fine.
I mean everything will be fine.
You're either going to have alicense or you're not.
You're either going to getcaught or you're not.
Speaker 2 (18:24):
Only the strong survive and only the ethical
survive in this instance.
It's going to be interesting,for sure.
Speaker 1 (18:29):
Yes, and you guys tell us what you're going to do
if you're wholesaling.
What do you think aboutwholesalers right, because I
like to hear that thedisgruntled agent is always fun
to hear them talk about.
Wholesalers Very different thanthe agent who does them right
or has investor clients, or theflipper who doesn't want to pay
more than 5K assignment fee.
(18:50):
Screw your assignment fees.
Speaker 2 (18:52):
I've had those, it's funny when I first started and
got into wholesaling how manyagents I ran into, like you know
, because I was just learningabout wholesaling but how many
agents I?
ran into there was like oh, youguys, just, you know awful, you
know what.
What is this like?
You guys are pretend agents andall this stuff and it's a very
unique niche and it's grown somuch, almost to the point of
oversaturation.
But it was just so surprisingto me where, like so many agents
(19:17):
kind of hated on wholesalers,so to speak, but now so many
partner with them, right,because there's so much value
that can be exchanged for theones that do it.
Well, I mean, I'm a wholesalerbut I've also bought from other
wholesalers which almost seemedsacrilegious as a wholesaler,
but like it's a good deal, it'sa good deal, it's a good deal,
right, everybody likes a gooddeal.
I'm working on one right nowwith an agent who's very pro
(19:37):
wholesaler, has probablywholesaled herself, and they
have no problem payingassignment fees.
It's all transparent.
So it's all about therelationship.
It's all about being ethical,doing the right thing.
Everybody knows what's going on, so I think it's interesting
how it's changed over the courseof the years.
Speaker 1 (19:51):
It's changed a lot, so a fun story I always got fun
facts.
Speaker 2 (19:55):
It's a fun story.
Speaker 1 (19:57):
My first wholesale deal.
I didn't know I was being likeI was buying an assignment right
.
And it wasn't even for me.
I was still a green agent andit was his first wholesale deal
and he didn't even understandwhat he was doing so the lawyer
at the time basically emailed usand went like you guys are
idiots and it was fantastic.
(20:18):
This lawyer is no longer inbusiness because she's unethical
.
Speaker 2 (20:21):
I think I might know which lawyer you're talking
about.
Yeah, I bet you do.
Speaker 1 (20:24):
And so.
But basically I didn'tunderstand.
I'm just like what is like theydidn't understand, they didn't
have an assignment.
We just did a regular contractin between.
Speaker 2 (20:35):
I remember that that was my first one.
It was just a mess.
Speaker 1 (20:39):
And she just was like you guys are idiots.
And so she fixed it.
Speaker 2 (20:42):
She told you guys that Pretty much.
Speaker 1 (20:44):
Oh wow, nicely, but she was like you don't know what
the fuck you're doing, right,all right, which was true, yeah.
And we were like, well, this iscrazy.
And so he didn't know.
I don't think he even knew hewas a wholesaler.
Speaker 2 (20:56):
Right.
Speaker 1 (20:56):
It's just like, literally, this was 2014 or
something before people knew itwas or was talking about it.
I didn't really have a nameback then.
Speaker 2 (21:06):
It was kind of just one of those.
Speaker 1 (21:07):
It was wholesaling but like it was just there was
only a few people who did it.
Yeah, you know so in our areain Richmond.
So anyway, we got through itand we closed it with all the
wrong paperwork.
It was so messy and that's it.
And then, even after ithappened, I didn't know it
(21:29):
happened, right.
Speaker 2 (21:29):
Right.
Speaker 1 (21:30):
So I didn't still give it a name.
Speaker 2 (21:31):
Yeah, yeah, I just knew it felt dirty.
Yeah, it happened right.
Right, so we see, I didn'tstill give it a name.
Yeah, yeah, I just knew it feltdirty.
Yeah, I was like what just?
Speaker 1 (21:35):
gotta be wrong, like what?
Speaker 2 (21:38):
happened we just I don't write like well, I got
paid, you got paid right.
Speaker 1 (21:41):
I'm like, alright, so you, you got the house, you got
alright, I guess we're goodlike.
I really just was cluelessbecause there was no.
Speaker 2 (21:49):
This is so selling right it's no like banners come
down from the sky.
That's kind of like my firstone.
It was like a three-way JV.
Absolutely no day.
Not a three-way.
It was a three-way.
Yeah, it was crazy.
It got pretty interesting.
Speaker 1 (22:01):
See, you guys didn't know, real estate could be so
much fun.
Speaker 2 (22:05):
And you know it was split three ways, like we just
kind of just muddled through theprocess Like nobody knew what
was going on.
They were teaching me and theyhalfway knew what they were
doing.
How much did you make?
I made $8,900 on my firstwholesale deal.
Speaker 1 (22:20):
Your take?
Huh, that was my take.
Three ways, nice yeah, and.
Speaker 2 (22:22):
I actually stepped in and did some negotiation to get
the price, you know, modifiedbecause it was a triplex.
It wasn't like Richmond.
The buyer houses were so cheapback then.
I think they bought the housefor like $60,000.
Triplex it was on HarwoodStreet and, like I said, we got
it under contract and theybasically just kind of coached
(22:45):
me through it a little bit asbest they could because they
were still trying to figure itout and I was still trying to
figure it out.
And, like I said, at the end ofthe day we closed on it.
Buyer closed.
I was like what do you mean?
He came in with all cash, justbought it, it's done.
And they were just like yeah,come pick up your check.
Who do you want to address to?
I was like this feels dirty.
I just made all this money.
(23:10):
I just made more than my jobpays me to the power of
wholesaling.
So that's kind of where we tookoff.
Speaker 1 (23:15):
Yeah, it's fantastic.
Again, another reason why it'sbeing regulated because people
out here are just non-regulated,don't know what they're doing
and just ta-da.
Speaker 2 (23:23):
Yeah, yeah, I'm here.
Well, you did better than me.
Speaker 1 (23:26):
I was the agent in mine.
Speaker 2 (23:27):
I wasn't the buyer.
Speaker 1 (23:29):
And it was a really low price house.
I think I made 400 bucks.
Speaker 2 (23:32):
Oh wow, hey, but you can learn nothing window.
Speaker 1 (23:35):
But I learned nothing .
You don't think you you learnedsomething right.
No, I learned.
I didn't know what the hell washappening.
Speaker 2 (23:41):
It took, that's fair, the next time I was.
Speaker 1 (23:43):
I was like, oh, it's one of these right, right.
Speaker 2 (23:46):
It's almost like I feel like with a funny part
about every transaction.
I feel like it's like a cookiecutter for the next one.
You take a little piece of thatand move it to the next one and
do it a little bit better,sometimes a little bit worse,
right, um, but definitelyscrewed up on something before
and you know it just works outin the end or it doesn't or or
it doesn't, and that's whatwe're going to come back and
(24:07):
fall for.
Speaker 1 (24:08):
We're going to come back and go.
How's everyone looking?
Speaker 2 (24:12):
out there, we should.
Speaker 1 (24:13):
I don't know.
You guys tell us what we shoulddo, like I think we should
bring like a wholesaler on withus?
Speaker 2 (24:19):
Oh, absolutely.
Speaker 1 (24:19):
Another one right Like and let's just be like
how's, or let's find thewholesaler that gets turned in.
Oh, yeah, yeah, I can think of afew that might get turned in
Right, and so that would be agood.
I don't know, you guys let usknow.
And again, so, guys, this hasbeen great.
Can maybe they'll put it on thescreen here or something?
It's our first one, guys, solike, bear with us.
(24:58):
Yeah, for sure, we're contact,information or comment or
whatever that looks like fory'all.
Or if you want to be a guest onthe show, if you've got a good
topic, like we're here for allof it.
I really like the idea ofhaving a wholesaler on here.
What's working for you guys?
That's it Wholesaler againstreal estate agents.
Speaker 2 (25:16):
We could have a whole powwow.
Yeah, that would be nice.
We're going to have liquor thatday.
Speaker 1 (25:25):
If anyone's interested in sponsoring that
show, that'll be wonderful.
So, yeah, I think that wraps itup.
You guys, we really appreciateyou.
Remember to share yourexperience.
Remember to judge the shit outof us or what we talked about.
Oh yeah, we're wearing how wesounded, all the things, what we
need to do better.
(25:46):
So that's it.
So I guess.
See you next time for morereal-ish estate, the real shit
you need.
Speaker 2 (25:54):
Absolutely Peace out guys.
All right, we're out, all right.
Hey, I'm Joan and I'm Jimmy and we are the Real-ish,
the Real-ish Estate Podcast.
We're excited to bring you thereal shit you need all things
real estate.
We don't, we're just gettingstarted, guys.
It's our first one, so we'reexcited to have you.
(00:20):
And so we don't have sponsorsquite today, today, but we do
have what we call shit from ourown fridge.
Do you want to pop this openfor?
Speaker 2 (00:29):
us.
Let's start this party offright.
Speaker 1 (00:30):
All right, that sounds great to me.
So everything real-ish iseverything that, or maybe
nothing that anyone talks about,right?
I don't know.
Real estate current highlights.
Let's take a peek um, what's upwith this week we talking
interest rates.
No NAR lawsuit, hell no mm-hmmmarket trends did you just get
(00:58):
your real estate license, orsomething?
Speaker 2 (01:01):
should I stage?
Speaker 1 (01:02):
okay, you're fucking done so kidding, listen, really
real talk, you guys.
It's not what we're about.
We're not going to really giveyou that.
I think you can Google that ormaybe watch everyone's TikTok To
find all that out, right?
So, in full disclosure, we'relicensed In many different areas
(01:23):
Agents, all things.
We're no lawyers.
We're licensed in manydifferent areas agents, all
things.
We're no lawyers.
We're no CPA, unless you are,because you have 20 jobs, no, ok
.
And so, guys, just remember,it's for entertainment purposes
only.
You guys are going to judge us,we're going to judge you, all
the things, and so we're justhere to to talk, really right
(01:45):
absolutely all right?
so, um so, real ish means thatwe can give you real advice.
Uh, jimmy, maybe we should tellthem about ourselves, right?
Why?
Why are we uh?
Speaker 2 (01:57):
why are we the real ish?
Speaker 1 (01:58):
yeah, let's, let's hear it absolutely so.
Speaker 2 (02:00):
we're the real ish because we've been doing this
shit for a long time, kind ofwinging it along the way.
Give you guys a little bit ofinformation about myself.
I've been doing real estate forabout five years now, started
off wholesaling.
We're going to be talking alittle bit about wholesaling
today.
Right, that's where I started,started doing rentals and flips
and all those fun things.
Wholesaling kind of just bodesitself to pretty much everything
(02:26):
.
So excited to read a lettertoday that we got about
wholesaling.
So yeah, that's a little bitabout me, joan.
Speaker 1 (02:34):
So fun fact.
Speaker 2 (02:40):
Hi, this is Kevin with the Quick Close team.
We're your off-market homebuyer connection for wholesalers
and homeowners to thousands ofcash buyers All over Virginia.
We're the connection to make tosell your house fast, with no
closing costs or repairs.
When you need a ton of work orget shape, we sell them all.
Go to the QuickCloseTeamcom orcontact us at 804-946-9986 to
(03:07):
get connected today.
Speaker 1 (03:13):
I didn't even know the difference between granite
and laminate.
Oh yeah, in 2013.
Speaker 2 (03:22):
Okay, all right.
Speaker 1 (03:23):
I'm like HVAC, what who?
I don't think I did either, so.
Speaker 2 (03:24):
I think that's okay.
2013.
Okay, all right.
I'm like HVAC, what, who?
And now I don't think I dideither, so I don't.
I think that's okay, you knowso.
Speaker 1 (03:28):
I didn't so since 2013,.
Right, so we're talking 11years in real estate.
Now I fucking tell everyonewhat to do and what to put in.
It's really fun.
It's been a fast track decade,and so I just do everything from
(03:48):
brokering to wholesaling tobuying holding you name it.
I do it If we can make money init real quick, we're going to
find a way, and I've done awhole lot right, made the top
percents of this and that, andso I am very well qualified,
jimmy, to judge the shit out ofpeople.
Speaker 2 (03:57):
Knowing you and being your friend.
I think that's a true statement.
Speaker 1 (04:02):
Yes, yes, okay.
So that's a little bit about usand we will bore you more,
probably next episode, becauseLibras love to talk about
themselves.
So we're going to we're going tocome back to that anyway.
So I guess the straight, let'sgo straight into it.
You guys All right.
So where you're going to see islooking at our phones, because
we receive letters and emailsfrom people that ask us advice
(04:23):
all the time.
So our goal is to bring theemails or questions to you so
you can help us judge others ormaybe help them, whatever works.
And we'll also be featuringguests on the show, all the
things, and hopefully a sponsor,so it's not from just our
fucking fridge Sponsored by ourfridge Sponsored by our fridge
(04:46):
and so anyway.
So we're going to start with theletter, talk a little bit about
wholesaling.
We're here for all of it, socomment all the things that
you're supposed to do on thesepodcasts, or if you're seeing a
reel, whatever it is, you shouldjust do it.
Give us something to do atnight in our woes after a long
real estate day, anyway.
(05:06):
So all right, jimmy, take itaway.
Speaker 2 (05:07):
You've got to read it for us Absolutely Wholesaling,
near and dear to my heart.
I'm excited to read this email.
So here we go.
We will name this wholesaling.
Am I the Asshole?
Okay, so I'm not your typicalreal estate agent.
I'm a wholesaler with a uniqueapproach to finding lucrative
investment properties.
I just need to find someone ina distressed situation and bail
(05:27):
them out quick.
Well, here's the thing.
I don't bother with real estatelicenses.
While people are dealing withregulations and paperwork, I
operate with the freedom andflexibility to get deals done
quickly.
Let's be clear my methods maynot be conventional, but they
get results.
I'm not afraid to bend therules and if it means putting
profitable deals within reach, Imake a shit ton of money and
(05:48):
make people a shit ton of money.
Okay, all right, we'll see.
Now Virginia is requiring areal estate license and I say
not going to happen and I'llfind workarounds.
Who is policing and who isgoing to stop me?
What will you guys be doing?
Signed am I the asshole?
Speaker 1 (06:05):
Ooh me, what will you guys be doing?
Signed.
Speaker 2 (06:06):
MI the Asshole?
Oh, that's a good one.
Is he the asshole?
Oh, man, that's a.
You know, this is your typicalwholesaler right Slinging and
just running through the motions.
And now that you knowVirginia's cracking down on this
stuff and putting regulationsaround it, I think people are
trying to be more creative.
So so what are your thoughts?
Speaker 1 (06:21):
Interesting.
So first of all, I think ifyou're in real estate, you're
probably the asshole anyway, Atleast to most people.
Even if not, if you don't wantto admit it.
Speaker 2 (06:32):
You will grow into an asshole at some point in time.
Speaker 1 (06:36):
Or many times a day, right.
So I think that I mean this isa really good one.
So this has been quite a buzzin Virginia which is like do I
get a real estate license?
Do I have to?
Are they policing it?
And I think the real answer isthat no one really knows, but
the governor just signed off onit.
So it's going to change a lotof people's business strategies,
(06:59):
whether you're ducking anddodging it or whether you're
going to go with the flow.
Whether you're ducking anddodging it or whether you're
going to go with the flow, I'mpretty sure that most people
have the same idea that this guydoes right, like what do I do?
Do I have to?
And who's policing it?
What's the wrong thing to do?
(07:19):
And so I think it's funny,though, right, he says I make a
shit ton of money, right, sothat might make you an asshole,
he says I make a shit ton ofmoney, right, right, so that
might make you an asshole.
You probably should bebenefiting everyone in the deal,
but whatever To each his own.
Whatever puts your boat,Whoever I'm the asshole is, we
buy houses, so you can be anasshole and call us with your
deals Right.
Speaker 2 (07:38):
Absolutely Call us.
Speaker 1 (07:40):
So anyway, but I think that, so I do both.
I'm licensed, as you know,jimmy, and I will assign a
contract.
I buy them too, and it's not myprimary business.
But sometimes you have to pivotand it hasn't really got in the
way of me doing business.
I mean, I think that there's anextra ethical thing that you're
(08:01):
bound by, right, but you'reeither a shitty person or not.
Anyway, I don't think a licensewill change that.
So I've been pretty successfulat it and it hasn't stopped me.
What do you think?
Because you don't have alicense?
Speaker 2 (08:13):
Yeah, I don't have a license in the process of
getting it.
But you know, obviously there'sgot to be a little bit more
creativity.
I still think there's plenty ofopportunity to make it work and
not be a shitty person.
Not saying this person is, Ithink they're just, you know,
kind of going through themotions like a lot of people are
trying to figure out how theycan still make a shit ton of
Money but still, you know, makeit work.
You know, for them financiallyit sounds like they're killing
(08:33):
it.
Um, so I mean, I think you knowI've heard about people double
closing.
They want to do double closingand maybe paying fees and all
kinds of other structures.
But there's definitely somegray areas, because I think
nobody really knows right at theend of the day how they're
going to crack down on this, howthey're going to police it.
And I look at it like kind oflike tax evasion, right, like a
lot of people avoid taxes andit's like, oh, it's cool that I
haven't gotten in trouble yet,right until you do.
(08:55):
So.
I think it's the same thing.
As they bend the rules, it maybe something that later on, you
know, things start changing andthey crack down and they may not
feel that burn right away andthere's tax avoidance and then
evasion right and avoidance islegal yeah, so maybe the same
kind.
I don't know.
I'm not telling you I'm doingthis is we're definitely not
(09:16):
attorneys.
Do it, but you can.
Speaker 1 (09:18):
There's there is, there's workarounds, there's
double closings.
I recently sold my LLC.
That's another good idea.
Speaker 2 (09:25):
Yeah, another good thing that people are doing.
Speaker 1 (09:27):
We basically assigned our LLC to someone new, and
$500 to do that, to make thatkind of transition happen
because we needed to, and sothat was because I got it under
contract with just this oneparticular address LLC, right, I
think there's lots of thingsthat people do already.
(09:48):
So now, what makes it illegal?
Right, I think they said overtwo a year, right, but you know,
double closing LLC, like Idon't know, and I don't know if
those are OK or not.
Speaker 2 (10:00):
Right.
Speaker 1 (10:00):
I think everyone's going to wing it in July.
I think everyone's going towing it in July and it's going
to be this huge shit show.
I will say this, jimmy I thinkthere's some real estate agents
who have been waiting for thisto happen so they can turn that
ass in.
Speaker 2 (10:12):
Oh yeah, absolutely yeah.
I do think, just kind ofjumping in, that it's going to
level the playing fieldsubstantially.
I mean, I've been reached outto by a bunch of my colleagues
who are wholesalers, and a lotof the good ones right are like
oh, I'm going to get my license,I'm doing it now, I'm doing it
the right way, because theydon't want to worry about any of
(10:33):
that shit at the end of the day.
But then there's some folks arelike nope, I'm just going to do
what I've been doing, like myguy here on the email.
Just fly underneath the radarand just see what happens, and
they might be totally fine orthey might, you know, who knows,
somebody might come knocking atthe door.
I have no idea, but we'll seehow it shakes out in July for
sure.
Speaker 1 (10:47):
It will.
Also, I'd like to point outthat there is a difference.
It only requires you to be alicensed real estate agent, not
a realtor, and most people don'tknow that's two different
things.
Speaker 2 (10:57):
There's two different things, yeah.
Speaker 1 (10:58):
So you don't have to be associated with NAR and MLS,
and if you are, it is going toput a stop to a lot of your
off-market marketing becausethere's all these extra filters.
So, if you do get your realestate license right, I think
that you have to keep in mind ofwhat firm you're joining and
what your goal is.
Absolutely, if it's just tohave it to wholesale, you
(11:19):
probably want a non-affiliatedNAR license agent, right, right.
And if you're going to utilizeMLS and like, okay, now I'm
pivoting and I'm going to be arealtor, you know.
So I think people should dotheir research and and they can
figure that piece out.
But to you know, dude to answeryour question though, so let's
(11:43):
answer it.
You know, are you an asshole?
I would say yes, because youask.
Speaker 2 (11:51):
If you have to ask the question, you can probably
take it.
Speaker 1 (11:54):
You're a big asshole.
Do you have to get your license?
I mean, I don't know.
I think a lot of people aregoing to pivot their business
and that's none of my business.
Who's going to police it?
I think I don't know.
That's a good question.
Speaker 2 (12:09):
That is a good question.
Speaker 1 (12:10):
So other agents are going to turn you in.
Other wholesalers are probablygoing to do that.
Right, Haters, that's who'sgoing to police it?
Speaker 2 (12:18):
And this is a serious question.
And this is a serious question,like I see this, like there's
kind of this secret society ofyou know hating and I wonder how
that's going to kind ofmanifest itself.
And you know, july, like somepeople that you think is your
buddy, like all of a suddenyou're like your competition,
even more so.
So now it's like okay, shouldwe turn this guy?
Speaker 1 (12:37):
in or doing some shady business, or how that's
gonna show up in July.
I think that that it's going tobe interesting.
We should redo this again inabout the fall and just write
and revisit.
It's going to be reallyinteresting, just because
typically what happens is whenthere's a change, people panic
(12:59):
and make it way worse than it isA hundred percent, and I'm here
for the shit show and all theassholes and the haters who turn
people in, and that's why it'simportant to already be ready.
So we had already been readyfor this and we were already
ready to pivot because we knewit was coming Right.
So, so, yes, yes, am I theasshole?
(13:20):
If you'd like to send afollow-up email or letter in?
Yes, you're an asshole, is theanswer.
And again, just because you ask, Yep.
And the fact that you put inhere you made a shit ton of
money tells me you didn't.
Mm-hmm, okay, there's that.
But you guys tell us what youthink, right and you know.
(13:43):
So this is great.
So wholesaling right, we're pro.
Wholesalers, right, we're pro,we do it.
And so we'll just, we'll justwait and see so this is Jimmy.
Speaker 2 (13:52):
I think this is a great first letter, yeah, and I
think this will be the first ofmany that are like this.
This is just such a hot topic.
Like I said, wholesalers are.
You know.
A lot of them were freaking out.
Some of them were getting readyfor this and working towards
their license because it justbodes itself to, you know, to
getting your license.
I've got a question for you,though.
I've seen a lot of agents kindof jump around to different
(14:14):
brokerages.
Do you think that certainbrokerages are going to be more
pro-wholesale than others?
Speaker 1 (14:20):
Oh, a thousand percent.
I mean they already tell youcan't do it now.
In a lot of them I mean, andthink about this, because you
know I own a couple Small right.
I'm not that girl I want to be,you know sign up, so I can be,
but I think it's about liability.
And so when you talk aboutwholesaling, there's a really
fine line in ethics, right,Because what happens when you
(14:40):
talk about wholesaling, it'sthere's a really fine line in
ethics, right.
Because, what happens when yousay when someone looks at you
that's about to lose their houseand you know they have a lot of
equity and they look at you andthey say am I making the best
decision?
Am I making the most money?
And you're a wholesaler, how doyou answer that question when
(15:02):
you know the answer is no?
Because, let's be real, we knowthe answer is no and so you
have to answer that honestly.
It doesn't mean you have tochange what you're doing, but
you have to be ethical, right,and I will tell you that I have
lost a lot of deals from buyingthem and flipping them to just
(15:24):
when you meet someone and going.
You know, Sarah, I think reallyyou're better off listing, and
let me create a bidding warbecause I have a license and I
know what their best bet is.
Right.
And then, honest to God, though, some people don't belong on
the MLS, we're right about that.
Speaker 2 (15:41):
We've walked through that, oh yeah.
Speaker 1 (15:42):
And so I'll be honest .
What I try to tell people isthis is the easy button and this
is the make more money button.
Which one do you want to push?
Right, so you can still do yourjob?
But that's why I think a lot ofbrokerages say no, because it
takes a special kind of personto not go.
Whew, I'm not going to make 40K, I'm only going to make 9K.
Speaker 2 (16:06):
Exactly, that's a hard pill to swallow for anybody
.
Speaker 1 (16:09):
So I think that's why most of them say no, there are
plenty, and I can't speak foranything outside of Virginia but
there are plenty of brokeragesthat will let you.
We will let you, and I know alot of smaller brokerages that
are investor-friendly will letyou.
We will let you.
Uh, and I know a lot of smallerbrokerages that are investor
friendly will let you.
So I think that's what peopleshould do is start.
I would interview the smallerbrokerages.
(16:31):
They also offer more investorexperience than the larger ones.
Speaker 2 (16:35):
I've seen that for sure.
I've seen that for sure.
You talk a lot about theliability piece and people
losing their houses.
I actually had a deal recentlywhere a lady was basically
facing foreclosure and it wasdefinitely a wholesale
opportunity, right.
It basically had no mortgagebalance.
(16:55):
Know, it really pulls on yourethical strings because you can
obviously there's a ton ofequity there, you don't owe much
and then it's a situation likewhat do I do?
I want to lose my house and Ican just see so many wholesalers
, kind of you know, glazing overme like, man, I can make a
killing on this, mm-hmm.
So being a part of a broker islike you have to almost train a
thought, so to speak, and likeis this really the right thing
(17:17):
to do?
And I think that's just in youinnately, or you know what I
mean.
So I don't feel like a licenseis going to change that about
certain people.
So I just wonder how that'sgoing to shape out with
wholesalers that you know, kindof have that gray area mentality
and it's just a lot of peoplethat need help but there's a lot
(17:38):
of opportunity to takeadvantage of that too.
Speaker 1 (17:39):
Yes, it is, and I think that is you know, jimmy
perfect, because that is why nowthere's a license requirement.
It's because before youcouldn't hold people accountable
for screwing people over.
But with a license you can holdpeople accountable, and just
because you make a lot of moneydoesn't mean that you took
advantage of someone.
That's not it right, um?
But it does happen a lot, youknow, um, I've gotten the calls
where the old lady was hadnowhere to go because the
(18:03):
wholesaler just wiped them out,just didn't give them a chance
to move, and force the contract.
They didn't understand it, andso I think that you know that's
why they're here.
So the last man standing right.
Like it'll be fine.
I mean everything will be fine.
You're either going to have alicense or you're not.
You're either going to getcaught or you're not.
Speaker 2 (18:24):
Only the strong survive and only the ethical
survive in this instance.
It's going to be interesting,for sure.
Speaker 1 (18:29):
Yes, and you guys tell us what you're going to do
if you're wholesaling.
What do you think aboutwholesalers right, because I
like to hear that thedisgruntled agent is always fun
to hear them talk about.
Wholesalers Very different thanthe agent who does them right
or has investor clients, or theflipper who doesn't want to pay
more than 5K assignment fee.
(18:50):
Screw your assignment fees.
Speaker 2 (18:52):
I've had those, it's funny when I first started and
got into wholesaling how manyagents I ran into, like you know
, because I was just learningabout wholesaling but how many
agents I?
ran into there was like oh, youguys, just, you know awful, you
know what.
What is this like?
You guys are pretend agents andall this stuff and it's a very
unique niche and it's grown somuch, almost to the point of
oversaturation.
But it was just so surprisingto me where, like so many agents
(19:17):
kind of hated on wholesalers,so to speak, but now so many
partner with them, right,because there's so much value
that can be exchanged for theones that do it.
Well, I mean, I'm a wholesalerbut I've also bought from other
wholesalers which almost seemedsacrilegious as a wholesaler,
but like it's a good deal, it'sa good deal, it's a good deal,
right, everybody likes a gooddeal.
I'm working on one right nowwith an agent who's very pro
(19:37):
wholesaler, has probablywholesaled herself, and they
have no problem payingassignment fees.
It's all transparent.
So it's all about therelationship.
It's all about being ethical,doing the right thing.
Everybody knows what's going on, so I think it's interesting
how it's changed over the courseof the years.
Speaker 1 (19:51):
It's changed a lot, so a fun story I always got fun
facts.
Speaker 2 (19:55):
It's a fun story.
Speaker 1 (19:57):
My first wholesale deal.
I didn't know I was being likeI was buying an assignment right
.
And it wasn't even for me.
I was still a green agent andit was his first wholesale deal
and he didn't even understandwhat he was doing so the lawyer
at the time basically emailed usand went like you guys are
idiots and it was fantastic.
(20:18):
This lawyer is no longer inbusiness because she's unethical
.
Speaker 2 (20:21):
I think I might know which lawyer you're talking
about.
Yeah, I bet you do.
Speaker 1 (20:24):
And so.
But basically I didn'tunderstand.
I'm just like what is like theydidn't understand, they didn't
have an assignment.
We just did a regular contractin between.
Speaker 2 (20:35):
I remember that that was my first one.
It was just a mess.
Speaker 1 (20:39):
And she just was like you guys are idiots.
And so she fixed it.
Speaker 2 (20:42):
She told you guys that Pretty much.
Speaker 1 (20:44):
Oh wow, nicely, but she was like you don't know what
the fuck you're doing, right,all right, which was true, yeah.
And we were like, well, this iscrazy.
And so he didn't know.
I don't think he even knew hewas a wholesaler.
Speaker 2 (20:56):
Right.
Speaker 1 (20:56):
It's just like, literally, this was 2014 or
something before people knew itwas or was talking about it.
I didn't really have a nameback then.
Speaker 2 (21:06):
It was kind of just one of those.
Speaker 1 (21:07):
It was wholesaling but like it was just there was
only a few people who did it.
Yeah, you know so in our areain Richmond.
So anyway, we got through itand we closed it with all the
wrong paperwork.
It was so messy and that's it.
And then, even after ithappened, I didn't know it
(21:29):
happened, right.
Speaker 2 (21:29):
Right.
Speaker 1 (21:30):
So I didn't still give it a name.
Speaker 2 (21:31):
Yeah, yeah, I just knew it felt dirty.
Yeah, it happened right.
Right, so we see, I didn'tstill give it a name.
Yeah, yeah, I just knew it feltdirty.
Yeah, I was like what just?
Speaker 1 (21:35):
gotta be wrong, like what?
Speaker 2 (21:38):
happened we just I don't write like well, I got
paid, you got paid right.
Speaker 1 (21:41):
I'm like, alright, so you, you got the house, you got
alright, I guess we're goodlike.
I really just was cluelessbecause there was no.
Speaker 2 (21:49):
This is so selling right it's no like banners come
down from the sky.
That's kind of like my firstone.
It was like a three-way JV.
Absolutely no day.
Not a three-way.
It was a three-way.
Yeah, it was crazy.
It got pretty interesting.
Speaker 1 (22:01):
See, you guys didn't know, real estate could be so
much fun.
Speaker 2 (22:05):
And you know it was split three ways, like we just
kind of just muddled through theprocess Like nobody knew what
was going on.
They were teaching me and theyhalfway knew what they were
doing.
How much did you make?
I made $8,900 on my firstwholesale deal.
Speaker 1 (22:20):
Your take?
Huh, that was my take.
Three ways, nice yeah, and.
Speaker 2 (22:22):
I actually stepped in and did some negotiation to get
the price, you know, modifiedbecause it was a triplex.
It wasn't like Richmond.
The buyer houses were so cheapback then.
I think they bought the housefor like $60,000.
Triplex it was on HarwoodStreet and, like I said, we got
it under contract and theybasically just kind of coached
(22:45):
me through it a little bit asbest they could because they
were still trying to figure itout and I was still trying to
figure it out.
And, like I said, at the end ofthe day we closed on it.
Buyer closed.
I was like what do you mean?
He came in with all cash, justbought it, it's done.
And they were just like yeah,come pick up your check.
Who do you want to address to?
I was like this feels dirty.
I just made all this money.
(23:10):
I just made more than my jobpays me to the power of
wholesaling.
So that's kind of where we tookoff.
Speaker 1 (23:15):
Yeah, it's fantastic.
Again, another reason why it'sbeing regulated because people
out here are just non-regulated,don't know what they're doing
and just ta-da.
Speaker 2 (23:23):
Yeah, yeah, I'm here.
Well, you did better than me.
Speaker 1 (23:26):
I was the agent in mine.
Speaker 2 (23:27):
I wasn't the buyer.
Speaker 1 (23:29):
And it was a really low price house.
I think I made 400 bucks.
Speaker 2 (23:32):
Oh wow, hey, but you can learn nothing window.
Speaker 1 (23:35):
But I learned nothing .
You don't think you you learnedsomething right.
No, I learned.
I didn't know what the hell washappening.
Speaker 2 (23:41):
It took, that's fair, the next time I was.
Speaker 1 (23:43):
I was like, oh, it's one of these right, right.
Speaker 2 (23:46):
It's almost like I feel like with a funny part
about every transaction.
I feel like it's like a cookiecutter for the next one.
You take a little piece of thatand move it to the next one and
do it a little bit better,sometimes a little bit worse,
right, um, but definitelyscrewed up on something before
and you know it just works outin the end or it doesn't or or
it doesn't, and that's whatwe're going to come back and
(24:07):
fall for.
Speaker 1 (24:08):
We're going to come back and go.
How's everyone looking?
Speaker 2 (24:12):
out there, we should.
Speaker 1 (24:13):
I don't know.
You guys tell us what we shoulddo, like I think we should
bring like a wholesaler on withus?
Speaker 2 (24:19):
Oh, absolutely.
Speaker 1 (24:19):
Another one right Like and let's just be like
how's, or let's find thewholesaler that gets turned in.
Oh, yeah, yeah, I can think of afew that might get turned in
Right, and so that would be agood.
I don't know, you guys let usknow.
And again, so, guys, this hasbeen great.
Can maybe they'll put it on thescreen here or something?
It's our first one, guys, solike, bear with us.
(24:58):
Yeah, for sure, we're contact,information or comment or
whatever that looks like fory'all.
Or if you want to be a guest onthe show, if you've got a good
topic, like we're here for allof it.
I really like the idea ofhaving a wholesaler on here.
What's working for you guys?
That's it Wholesaler againstreal estate agents.
Speaker 2 (25:16):
We could have a whole powwow.
Yeah, that would be nice.
We're going to have liquor thatday.
Speaker 1 (25:25):
If anyone's interested in sponsoring that
show, that'll be wonderful.
So, yeah, I think that wraps itup.
You guys, we really appreciateyou.
Remember to share yourexperience.
Remember to judge the shit outof us or what we talked about.
Oh yeah, we're wearing how wesounded, all the things, what we
need to do better.
(25:46):
So that's it.
So I guess.
See you next time for morereal-ish estate, the real shit
you need.
Speaker 2 (25:54):
Absolutely Peace out guys.
All right, we're out, all right.
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