BTM111: How to Profitably Overpay for Real Estate with Nick Prefontaine
This is darriel Elliott, and you're listening to the before the millions pad casts episode one hundred eleven is not like good luck or something. I don't know. But I mean it has to be right because this episode is titled how to profitably overpay for real estate. Well, if you think it's too good to be true. It isn't you ready to be the master architect of your life. Are you ready to design your business and invest in needs that create the lifestyle you've always dreamt to? Are you ready to learn from entrepreneurs and millionaires, who have gene a certain level of success? Hey, this is Derek location. Independent entrepreneur and you're listening to the before the millions podcast. I am Gina Lofton. I am an ambassador and you're listening to the the core. The millions podcast. Hey bear. My name is Heather haven would marketing coach and global entrepreneur and you are listening to the before the millions podcasts. Hey, this is Marcus, crispy host of the seven minute to podcast, global entrepreneur all around geek and. You listen to the befall the millions podcast. I am MC lobster the cash loan injure, and you're listening to before the millions bought cost. You're listening to the before the millions podcast, a, whether you're looking to invest, we're cash flow or Bilden, online business that allows you to be location. Independent, you've come to the right place, Mr. Hollywood. So presents the before the millions podcast. Now, your rose d'auray. What did you be TM tribe? We are back for another installment another episode of the before the millions, podcast and guys the guest on today's show. Let's just start this show off just by saying that anything is possible. The today show isn't that much younger than me? I think he's in his mid twenties and eighth grade Nick Prefontaine. Today's guest wasn't a major accident. Now, he's going to talk about his accident on today show, he's going to get into, but the aftermath of the accident left knickknack olma for three weeks. Three entire weeks now imagine waking up from your Cullman. The first things the doctors tell you is that you're never gonna walk again. You're never going to talk again. You never going to live a normal life ever again in eighth grade. This is the outlook of the rest of your life. This is the beginning of the rest of your life. What do you do? How do you cope with that? Do you cope? What do you challenge that now because Nick had had an amazing support system around him? A few of the people in his support system have been on the show and episode sixty his dad was on the show. Chris Prefontaine an episode seventy four his brother-in-law and one of my mastermind members was on the show. So Nick, had a pretty stellar support system, and he talks about it on the show. But get this a few months after he wakes up out of a coma he literally runs on two feet out of the hospital and he begins his real estate journey. And he studies under the tutelage of his father, and he realizes through that process that he has a really, really good neck for the buyer side of a real estate transaction so finding buyers, building those relationships with buyers, any equipping buyers with the tools necessary to purchase the next property. These aren't any type of buyers, the title of today's episode is how to profitably overpay for real estate. So on today's episode, we'll discuss exactly what type of buyers, these are. And how to get these types of deals done to where you can overpay and still be profitable on your next real estate transaction now, I personally, absolutely love this strategy. It's something that my clients, and I build on every single day. And it's one of the most powerful strategies out there that nobody's really talking about. But guess who does what this clients may? And guess who else does today's guests mister, Nick Prefontaine? So you're in store for a really, really good episode. Now, before we get into all the good stuff, if you haven't already yet subscribed to this podcast. Go ahead and click the subscribe button, turn on your notifications. Let your mobile device or your internet, browser notify you whenever an episode of this podcast releases. Now, we releasing episode every Tuesday morning, but in the next few weeks, I may just be dropping a couple bonus episodes. So you definitely want to make sure that. You're getting those notifications. Okay. Are you subscribed? Good. Now, the next thing I want, you guys to do is head over to Instagram and connect with me. Personally, let me know that you listen to, and you just described to the podcast. Let's connect. And especially you guys every single one of you, you guys are members of the before the millions tribe. So head over to Instagram, my Instagram handle this derail Aaliyah. That's. D. A. R. A. Y. O. L. A L. E Y, and is dropped me. Nell drop me, a DM Natta being a Fisher member of the tribe to be an ironclad lifelong, solid member of the before the millions tribe. One other thing you have to do head over to a before the man's dot com forward slash group and join our tribe. Join our Facebook group. It's completely free and you're going to interact with a ton of other listeners and investors, and actually previous guests that have been on the show, and of course, me myself so head over to before the man's dot com for slash group. And join our Facebook group and become a part of our tribe today. So now that you're subscribed, you and I are best friends on Instagram and you joined the before the millions tribe, I think it's time to get into the tip of the week to raise of the week. Two two two two two two guys. Look, sometimes while everybody's going. One way you gotta go the other way. So, like everybody's zigging. You have to zag to pick up any steam to get any progress to get to your goals to let me give you an example of how you can zag it and go against the grain and possibly get some deals done. So, for instance, the my camp myself and my clientele the way we like to approach a targeted list per se. Is that we like to look for properties that have what we like to call clean title. So in a property has clean title that means that they're in layman's terms. It means that there aren't going to be a whole lot of hiccups during the closing process in terms of leans from other parties and questions about legal ownership by who owns who actually owns the property. So something that most investors don't do in quite frankly, most semesters don't have to do because the title company does it for you is title research, now, I personally do title research, and I have. All of my clients to title research, preliminary, title research, because again, we like to weed out properties to have clouded titles now again, going back to Ziggy versus zagging just because that's the way we do. Things doesn't mean that you can't come in the real estate game and only go after properties to have crowded titles. Because it's a challenge, because it's very hard to work through because almost nobody's gonna want to deal with that situation, you may be able to find some amazing deals in some complicated situations. And because most of us, don't want to deal with that you have an entry point. You have a niche, and you can utilize that. So again, while everybody's zigging. You may just want zag a lot of investors may only want property that has a certain amount of equity in the property, right? And I know a lot of investors who filter for that we filter for that on some of our lists. But here's where we're zagging while everybody else zigging we also have strategies to where we can help out a homeowner who doesn't have a whole lot of equity. Or we could help out a homeowner who has no equity or we can help out a homeowner who's upside down and still make money on the deal token, while most realtors while most investors may just shy away from those types of deals myself and my clients we eat those deals up Nick today's guests on today show him in his thing they do the same thing over there. So figuring out how to zag, while everyone else's zigging may just be your entry point may just be your niche. Maybe your Dacian to always question. What people are doing why they're doing those things. Again, we're not running from Qatar titles, because it's not possible to get a deal done. There are plenty of people who only attack clouded titles because they know that nobody else wants to do that. Nobody wants to spend a ton of time growing, and cultivating and managing, and picking through a generic list people rather just by those lists that are super targeted. Right. But if you can create a targeted list, for instance, if you have a pretty good expired list, or you have a pretty good, pre foreclosure list. You won't start lists tacking with maybe like a code violations list. I guarantee not many people are looking at code violations as list. It's a small small small small small subset of people, but Hugh list, ACA code violations. Listen, your county with the pre foreclosure list. You're creating a pretty targeted list of motivated sellers may be extra work. Maybe extra time maybe a little bit more intensive. But again, while everybody else zigging may just wanna zag. Sure if you're in the trenches, and you're, you're trying to get your first deal, and you're trying to get your second deal done, and things or not clicking. Think about what ways and from what areas, you can add extra value, or you can take the extra step that most people don't take now where it gets really interesting is, there are pockets in which you can follow the popular trained, but kind of Ziggy a little bit to find her own niche. So whatever it is don't zag immediately from that onset bike. Follow a proven path, or proven system, a good majority of the way in when you noticed something we used CNN officiency, again as an entrepreneur. If you're looking for problems to solve. So when you see a need, or you see a desire, or you see a problem that you can solve that's when when you decide zag, and if you understood that take and do something with it if that went over your head just go back and try to listen to that again. But if you're stuck right now, it's possible that you may just need to hit a quick zag while everyone else is focused on zigging now on about two jig on out of this tip of the week in head to our feature presentation and now your feature presentation mic. How's it going today? It's going to awesome Durham, happy to be here. I am excited, but you are here we're gonna talk about the process of finding tenant buyers. I think that marketing your real estate investments to ten in buyers gives you a whole lot more flexibility in the options that you have as far as an exit strategy. So it's something that we haven't yet talked about on the show, and I'm super excited kinda get into some of that stuff. But we have some ground to cover Nick, we gotta talk about some other things we gotta get into the time, which you gotta we gotta get to know you got to figure out how all of this began. For you. So maybe just take us back. Take a to timing your life. Maybe the first time you really thought about real estate as a viable vehicle for your future viable vehicle, that you could use to create success in wealth for yourself and your family, one was, maybe the first section of this of the star. Well for me it's a little bit. It's a little bit different just because I grew up in a family. That was real estate oriented, when I was younger like real little. My dad was a builder than in the nineties, when I was probably around ten years old. Yeah. Right around there he started becoming a realtor in any opened his own brokerage. So I grew up in the business. That's really all I knew about what is par as like a fiber avenue for myself in one wanting to be interested in real estate and wanting to get started in real estate. I think I could probably remember back to when I was about fourteen or fifteen in. We actually at the time. We're, we're living in Massachusetts. Still in shoes ry. We had a pool out back in. I remember very vividly floating around on a on a floating in that pool in reading reading a book that book was Robert coast hockey's, a cashflow quadrant in. That's, that's a really started a spark my interest in real estate, and then throughout the rest of high school. I was doing various tasks went with my parents had a few renovation projects like raise Rupe projects where they go into neighborhoods by a ranch. A single story home in RAs roof and make a profit that way, they also had condo conversions where they would go into three family homes in condo each floor of the three family. So I actually worked I worked in all aspects of that did the manual stuff. Off digging trenches and holes per footings and stuff on those raise roof projects. Also, I remember actually look back on it fondly. I remember going to those street families where they were con-going each for the three family in working hand in hand with the handyman with the contractor who was the one responsible for doing the majority of the work in actually got to learn a lot got to do drop ceilings, like all things on nitty gritty things like that of contraction. That's really learn the ropes away. So that was that was a time at life that I really look back on that. I look back fondly grown up when I was about in highschool, real estate because I did that along with when I was in highschool after my item, my license, along with doing pre for closure doors where I would take a listen notice defaults in code Narconon, doors and try to set appointments up with the investor. Who would come down to meet with them and try to buy their home? Those are those are all things going on when I was in high school when I have my license, so I was always really involved one way or the other. But I can point back to that, that one book, Robert coast hockey, they cashflow quadrant when you were in high school, you had a major life event, kind of change the trajectory of kind of your life, and how anger perspective on life, kind of the way you saw your future, and was this July for the before, after you started knocking on prefer closures and kind of walk us through that event and kind of how things in Rowlett for your after that it's actually kind of funny, because I didn't realize the significance of the fact that I did all this stuff that I was talking about t- when school after my accident. So I was on stage at our last van in it kinda a cut it hit me that I was going into not so good areas like low in. Areas and knocking on doors. Only two years after coming out of my coma, and have where where when you rewind this for tell me tell me tell me exactly what happened in in, you talk about an accident or snowboard x what was that accident? How did kind of happen for you? The day was February fifth two thousand three and I was in eighth grade. I was going this Key Club packed up all my stuff for ski club before in later that day, we leave early if we're going to ski club to get to mountain time. So on the boss. We abroad are stuff in. I was getting ready. I noticed I forgot one thing in. That's my helmet. I usually bring I didn't wear it all the time. I'm not gonna. You know, said on Saito was Saint or anything by, I wore when I went to ski club usually so that particular day I was when I was getting ready on the bus. I noticed that. I forgot my helmet so we got some own and because all the kids, most of the kids didn't get ready on the boss. They hell inside to get ready, but we are already ready, because we brought her stuff on the bus to get ready. So we went up we on the chairlift up. I noticed that it was very icy people were wiping out everywhere because it had been raining. Needless to say it wasn't I wasn't on the beginner. So I felt pretty confident in my abilities. I got to the top buck Ben and headed straight for the biggest jump with all my speed and going to the gym by caught the edge of my so moored, which kind of threw me off balance, if you know what I mean by that going down just kinda, but I was I was too close to the top. To stop. So I had to go. I was supposed to go off the jump. So in the air, I went like this, and then I landed on my head. So I was later told that I landed on my head that it wasn't wearing a helmet and the darkness told my parents that I probably wouldn't walk talk or eat on my own ever again. So that was that was a story. That's the story of the incident of my accident. Then less than three months later, I ran out of Francis can children's hospital in Boston After going through a wad of therapy, obviously the game my game back my, my weight because of awesome oughta way when I was on the komo's in my call Mark for about twenty one days three weeks. And that was mostly sedated because they had to they had to keep me sedated because they said, if I were. Woke up the swelling membrane would have been crease Modi. So it was partially sedated, and I say that because three weeks to be in a coma. Yeah. That that's all on time for someone. But I really don't remember month because answer come off the come off drugs. That is incredible. And I think about your state of mind coming out of that coma, and your state of mind to your possible, new life. And you know, just thinking about the resilience that you have to have to be able to go through something like that. I mean, the words that you use for Iran out of the hospital like, and I don't know if you mean that literally right? I like is that something literal? Or is it more Sova metaphor because you, you going from high, you can never walk again, you can never talk again? Your life will never be the same. So I got up, and I ran out of the hospital less than three months later. I mean talk about some of the mindset work that you did during that period. And I know that some. This is gonna translate over to your work now. And how persistent you may be in real estate, but talk about some of the mindset work that you had to muster up at that time. Well, it wasn't. I always say I always say that I'm very fortunate to have the family that I have because if it wasn't if it wasn't for them, I wouldn't I wouldn't have been able to be here today. Make that recovery. My dad at the time was doing a lot of motivational speaking in lettuce speaking in presenting for a lot of companies at that time, he had I believe, just sold, or sold the fears earlier his real estate brokerage firm. So he was doing a lot of speaking and consulting at the time and he was all about heaven affirmations and keeping them positive mindset, all that stuff. So all around my hospital room everywhere, I looked was signs like each day, I grow shrunk or ensuring with every step I take in. Just affirmations all over my room everywhere. I looked and I couldn't walk at the time. So it wasn't like I could get away from this stuff. Now that I wanted to buy. Yes. So that the mindset piece is huge it thing because my goal since I got in the hospice, since I was in the hospital once I got to Franciscan about a month after I came out of my coma at the intensive care unit. Add UMass met a medical center of Wester. So I came out of my coma, once a stabilized me, I was transported to Franciscan and from the very beginning at Francis. Can my goal was to run out of the hospital that was that was always my goal nuts? That was always in front of me, the almighty therapist, new my goal there. They all did what they could to make that a reality. Wow. That's an incredible story. So I want to talk about the progression, the very next few maybe weeks or months or years from the accident. What are you up to what are you doing? I mean, this is this is post eighth grade. You have all highschool ahead of you. What's next for you in another? You talked about getting into pre foreclosures. What is your new life? Look like it's a good question. I when I first got out of my accident. I couldn't go back to school. I couldn't go back to eighth grade. I remember when I got released from Franciscan it was April, at believe April twenty third on two thousand three. In obviously, we know anyone that knows that was in school at that time, your kind of going into your last month or two, and you're kinda getting everything wrapped up and getting ready to move on while I had missed since February fifth at that time. So when I went back to school, I couldn't just react me to, to the classes by regular eighth grade class, but I still love to go to school. It's funny. It's pointed hear myself say that because in high in high school I didn't I didn't love it. I couldn't wait to be done with it in our work and but at that time, I couldn't wait to go to the school, to seek just see my friends, and so, I would I would go to school in, when I was there, I had a private tutor at the time my energy, even though I got discharged from impatient. At Francis can children's hospital. I still have to do so. So do like six months of outpatient therapy of physical, occupational and speech therapy. So the work was an over when I Fran out of the hospital. I, I still had a lot of work to do. So I would go to school school, which is me being with Tudor in the morning from nine or ten to twelve than would go down in either peak in the classroom if, if my classmates were still in class, or I would go connect with everyone at launch, and just say, hi, and then I would leave in a wasn't like I was leaving to go home. Like, though, the easy Nichols's FDA, I had to go to outpatient therapy from about one thirty two four of physical, occupational and speech therapy, or that's a very good question. I'm never got asked that. I think about, you know. You're picking up skills that you've had before, like you had to learn speech all over again. Like that you had to I mean, I think about the level of difficulty for you like even even learning to walk again. I mean, and I don't want to be insensitive, which which process was harder for you in why I don't recall. I don't remember derisory having difficulty or being frustrated or or just having difficulty surrounding any of those things. I just feel like that's how I am today. I just feel when something is put in front of me whenever it is that it's done necessarily good or bad. You just have to get you just have to get past it. Get to the next thing. Get to what you won your goal like my goal was to run out of the hospital after I was home. My goal was to be not have to go to physical, occupational or speech therapy. So I just I don't know. It's, it's. Sounds pretty elementary. But when something when something's put in front of me, I just that's what I do. I do what the next thing is. That's put in front of me. At what point did real estate become the next thing for you and talk about the unfolding of that for you. My dad had bucks all around. We, we actually had a little library when I was growing up in I asked him what, what is the what is the thing that I that I should read dig at started, and he, he gave me that, then I kept going back to him and kept asking things about okay, what's next? What's next sweats? What's next second thing for box in his par shortly after that. I think I started doing the work on the raise the roof projects like the just the manual contractors stuff on the nitty gritty in the, the work with the contractor, and then I was even when I was a junior and senior, actually, I think when I was teen year I was even cone expired listings for him trying. To get trying to get him appointments. I would I don't know my license, I was just trying to be helpful to him and set about points from eventually you decided to get your license. Correct. Yeah, I got my LA as she met license. I started I graduated in may of two seven took the summer off and then in the fall in September I went to Hector Padilla one of his mass my buddies that what he meant in a Mike ferry coaching group I went out with him. That was my first. It was exciting for me because it was like one of the first times that I wanna weigh in my own my own hotel room and everything. And I did a one on one pretty much a one on one seminar with him. I just his course was one on one over weekend. So I did that with him. And I flew back on the Red Eye and then that night started. My core Sega Marilyn state license in that I got Morillas Taylor's in March. I don't know what any longer. But what was what was your reason for getting the license at the time? My reasoning I wanted I just wanted to do I wanted to be a real estate agent. I'm trying to draw the parallel between you get into the investment side of things sometimes oftentimes there, there, isn't this overall grand plan to where when we look back on things, you know, in hindsight, twenty term, like, oh, that was actually a good idea or that wasn't a good idea. But was there onto where you're like I need to get my, my, my license so that I have access to certain things that can you actually become an investor or was like, hey, this is just another form of income that I can put into my invest like what was, what was your grand plan for getting your license? And I know you no longer have it anymore. So it may not be part of the planet anymore. But the what was the plan at the time. There was no plan. There was really was no plan at the time. I just come license to be realtor to be real estate agent, I was successful in that, despite despite the market crashing shortly after me. Getting my license. I all I knew was about market. So I was able to survive in support myself in then in two thousand fourteen my dad mentioned to me that he was he needed some help. He was gonna hire someone to handle his buyers for all of his properties. He just couldn't handle it anymore. Any said, I'd rather not hire someone outside 'cause him ni- him since I started have always shared an office. We weren't necessarily always doing the same thing, but we always shared an office. We weren't. We always worked out of an office together. So he said that he doesn't wanna hire someone different and you want. So I was like, I was reluctant at first actually, which is kinda funny. I was locked in like nano, I'm, I'm too busy. I got my own thing going on here. You know, I'm busy busy and. I told him. No, I turned down for the first couple of times he asked me. But then, but then I started warming up to the idea, and I was like, well, if it's okay, interfere console my license and still so real estate. I guess I'll try the marketing I started helping marketing that more tend to the buyers. And then in January sixteen two thousand sixteen. I just said, this doesn't even make sense for me to keep my license anymore because I mean my income was here is a realtor here. The money is made from him in, then trying to figure out how to do this. Over the years. They went like this. He's our Nick is currently a showing us exhibiting as a flip flop income levels who are listening to the audio but yeah, he's flip. Flopping income levels from him making almost one hundred percent of his money on the on the realty side in no money from dad, and the, the coaching in the buying the investing size. It was the investing totally I yeah. I wasn't really involved any bid in the in the coaching because at the beginning, at least because I had to win the business. So why do you why do you think you shot away from it for for so long? It was a thing. It was a thing has I always all right. So look he was doing something else before that. And then he was successful in that he was doing our marketing before which will call before the, like this, this, this, this specialty in like terms deals. He was doing that. So probably like two dozen ten two thousand eleven two thousand twelve I will go to events that he would have in the people would talk to me, they're like his guests or whatever, I would just go to support him, and I would I would like us my dad's. So I would say hi to him and support him and everything. But people will be like, oh my God. Why, why are you doing? Why are you doing this like your family? You in your, your dad, you. They're doing so well doing doing this this business when you do this. I was like, well, what does that say about me if I'm just jumping, and leaving in going to any? Everything that's working. I want to figure this out. I want to figure out what I'm doing. I wanna be my own person. So I don't think that's something I've I've discussed with anyone before. So I'm not. I appreciate you. Ask your and I think that, that, that I love that you even shirt that, that insight because you're like, hey, I wanna be able to prove not only wanna be it's more so to prove to yourself. Right that I can is. Yeah. Yeah. So I mean I totally get that. Now, when you realize the, in your data may have realized in you before you realize yourself open, you realize the power and the impact than what you can do in the space that he was. He was offering up for you, that he was, like, hey, like I see an opportunity here in, I think that you'd be a great fit for this, at what point did you start to take a liking to the buyer side of things where you're like, hey, I'm going to kind of take this, by the horns because I love this stuff like when did that click for you. Probably probably okay. So I, I started helping on the marketing in December of two thousand fourteen about three or four months after that Diriye was the okay get a help me with the buyer's curls. Like, all right. I was already familiar someone with the business. So I started to answer on the buyers and I started just I don't know. I started really enjoying a few. I would say a few months after that probably two or three months after that. So mid. Dozen fifteen because the just the attitude just people's attitude was so much different. Just when I was a realtor, there are not saying, not say realtors are, you know, bad people or you know, someone's better than someone else? All I'm saying is that there seemed to be to me a lot more of a need for what my dad was was doing in what we were doing as investors rather than as a realtor because, as a realtor, I felt like there was only one way that I could help people I could help them sell a house or help them by a house. That's it this way as an investor. I there's so much more that I could do I could help a seller, we could help a seller out of a bad situation where? They were stocked. They didn't feel like there was any of the wave then move on with alive. We can help them by buying their property buying their property in helping them move home with a wife and then on the other side, there's this huge pool of buyers, especially more. So in two thousand fourteen fifty in the now, just because the unruly environment just seems like every often any softening for people to be able to get credit. Yeah, exactly. But I feel like there are hard, there are higher interest rates and everything associated with that. But there's just so much more instill to the stay there. There's just so much more of a market to help the buyers because there's either you can get along today or you can't get alone. Sorry I can't help you click because people don't wanna work with or lenders. Don't wanna work with or realtors. Don't wanna work with people who aren't qualified, and they, they just feel like all okay. I can't help you. You or at the very best at the very least referring to a credit enhancement company, tilt them. Get their credulous point where they can buy. So there, there's, this huge gap that, that are really, I don't know. I felt I felt more like I was making a difference. If Noah goes in let me, let me rewind a little bit, because we're getting into some of the amazing strategy portion of our show, which were talking about, you know, the end buyer being attended buyer over real estate asset that you have or that you haven't a contract. So I just want to kind of highlight that most investors, especially wholesalers fixed flippers, they need to be able to purchase property at a certain price point for it to be a good do. So there needs to be able to purchase property at fifty cents on the dollar a sixty cents on the dollar, and if they can't, they're gonna move on from both views realtors are in the same boat. They are earn a slightly similar vote in that there needs to be enough equity in the property for them to be able to get their commission. Right. So if you're selling a house for, you know, when eighty and. The, the value of the houses. When eighty there's not a whole lot of equity there or any equity at all for wrote starts even be excited about like working with you. So there's there's conflict there. And then I think about the fact that we are not wholesalers. We're not realtors fix zoom flippers. We're not even rental property investors, where Rosset entrepreneurs and our giant, but we're just by property. I ended up being area. So our job is actually even simpler. It's literally to solve problems like the more problems. We solve the more money we make like in the in the more we hope. Right. So it's an abundance mindset. So if you walk into every situation like how can I solve this problem again, you as a real estate entrepreneur, as opposed to a fix and flip or a wholesaler or a realtor approaching motivated sellers somebody whose houses about going for closure? Whatever the case may be you have all these fools of your soul Bill and these people have limited tools, limited resources. You're able to present the seller with a whole lot more options than any other person and because of that you're able to approach the situation in a different light. You're able to approach the situation. I how can I help? Hey, what's going on? Tell me about your situation and provide the best service for them. Whereas if you're if you're wholesaler, you're like, man. How do I get? How do I get this deal to work? How do I how do I fit this the southern semi wholesale model? Right. So it's almost like all about me me me. But the way we approach is, like, hey, I'm a real estate entrepreneur. How all these tools until about limit forgot the best way? To help you and you're able to do that, because of creative exit strategies such as having tenant buyers kinda wanted to explain that to the listeners were just like, hey, Nick is like, moving a hundred miles per hour. We have no idea what he's talking about. Just I'm just excited alleged throw on thrown a lot at you. So I love it. I love it. So what, what I wanna kind get across them. Now is the fact that having an exit strategy of tenant buyers allowed you to pay more for a property allows you to do deals that you wouldn't otherwise be able to do and I don't want to steal your spotless. I want you to kind of get into that strategy for us really quick. So why having this exit strategy is important in why it helps us. Do more deals than the average person share. Cell is far as the seller what they're looking to do. So a lot of the oddest uses one example, to kind of make it simple. A lot of the lot of the leads or the lease that we go after our expired, listings, homes, zag couldn't sell for warm using other on the. The market. So those people are much more likely to be open to hearing about creative options to get them to their full cash price. So basically a delay cash sale. Because they've already tested, the Mark they, they've quit literally tested the market out for whether it's ninety ninety days hundred ninety days, one hundred and eighty days or even a year. So they've already been on the market. So they already know that the market isn't going to pay them what they're looking for, for their home. So that's why they're much more open to listen to creative options that we can offer that we can offer them, you know, before we get into some of these credit options, again, I want to highlight the fact that you are solving the problem of a seller. My a seller is going through a problem that a realtor cannot solve, they obviously have tried to list our property, where realtor and they tried to list, our property for one eighty and the property hasn't able to sell for when eighty now you have a strategy in which that property can sell for when avian maybe even more because of your end buyer. Again, if you are a wholesaler, and you're in you wanna buy. Property that's worth one eighty you're not paying more than ninety two hundred thousand dollars for that property, depending on. Right. But because we are entrepreneurs, we have a certain exit strategies like owner financing, subject tools in signing contracts to, to tenant buyers, and things like that you're able to have a much more attractive offer for your seller, but not only that you're serving the community that hasn't really been served, right? Because the end buyer is no longer an investor, right? An investor is not gonna pay top dollar. They're gonna they're gonna want discount. The end buyer is not even a regular by homebuyer is probably gonna wanna pay market, right? But you have a regular home buyer who doesn't have the credit or maybe they don't have the job. They don't have. They haven't they don't have the haven't been at their job long enough. Right. The can't get financing but you have these buyers, and they may be have a great have great means to buy the property have downpayment, and they're not being served by the Bank. They're not being served by the credit unions. Not being served by other lenders. But they I mean in our eyes, they're credit worthy. Right. So you can cater to this target demographic and be like, hey, I have a solution for you. And that solution allows you to buy the property for quote unquote top dollar, which is what the seller wants which are also able to put a tenant buyer in the property, and they're able to maximize on their benefits because now they're able to buy a home in which they weren't able to buy before because they didn't have financing, but through your creative strategy, they're able to buy that home now with that strategy and be a homeowner as opposed to not being a homeowner again, solving the problem of a seller, and solving, the problem of attendant buyer. So I wanna I wanna highlight what at ten buyer as and then I want you to highlight, I, maybe two or three ways that some of the listeners can start finding tenant virus, because again, this strategy allows you not only to lick it deals and be like what I have to pay. I can only pay X amount only pay, you know, whatever that discount is. But now I have a wider range, I have a wide array of options, because I have this strategy of tenant, or so. I kind of explain to us exactly. I know I've done a little bit expanding you have as well. But holistically wet is tenant buyer in. How do we find these people? So it can buy there is approximately. I used to say team percent. But it's it's while I twenty percent of the market that can walk into a Bank and get along today at good raod competitive raised in, you know, get good. Get access to good programs. I can think so that other bigger pool of buyers that other eighty percent. Let's call it, for example, sake. They're not all good in. I'm not saying that I'm sure they're all fabulous people. But now they're not all good buyers in there, though. Now out of the eighty percent, there's probably a large portion in there that make first off, great, incomes, that can support whatever homeboy in whatever price range, that were selling. I'm just I have my board in front of me. So I can tell you so I'm looking at holds all the way from on the low end hundred and eighty four when before nine to the high end like half a million, but the that, that can go up, usually to a million in maybe maybe even touch over a million. So all price ranges of that. So those people can support those homes to live in m run home, just like it was thrown in also. They have the money set aside for the down payment, it might not be the twenty percent that a lot of the banks are going to require, but they do have a good amount down. Usually our program requires three detention percent that you have to come in with for down payment in that if they're coming in on the lower end of that spectrum like to see them get it up closer to the ten percent over the course of their of the lease purchase agreement with us all of. Places places that you can advertise a thank. That's where you go next. Right. So let's, let's talk about three different ways to corral tenant buyers to Crowley list of cinnabar's to actually have. So when you do get your your next year when you, you already have buyers lined up, how do you how do you what, what's your number one way for acquiring new tenant buyers? Yeah, it's amazing, the we get asset all the time and that was actually my dad Nuys concern. When we first started is what, what are we gonna do about buyers, and do we have to we have to buy list of buyers and everything you don't have to worry about the buyers? The buyers are going to come when you ever has a home on terms on Renton owner financing. That's thing when you're advertising that you're open opening up the pool of buyers to five months. More buyers approximately you never have to worry about the buyers. It's what we do have to worry about or not worry about worries. Roy. Wrong word derived, what what we are doing is there's a process that, that we've created to Sifton's short these buyers so that you're only dealing with the best ones in that process is the education process before, even getting into the home it or even answering questions about the property for most part. We want we want to send them to some education on our website. Make sure he's the video that goes around our program works, if you're still interested, eight me a callback, we can get to the home that's going to prequalify a lot of the buyers out. Once I understand that. Oh, I'm actually buying a home. I, I gotta have a down payment. I have to have money to live in the home. Once they find out that cifs out a lot of the buyers, solely, the bench ones are calling you back and then that also walk us through the beginning of that funnel source to even have potential buyers go through that funnel. Some of your advertising months. Oh, yeah. I knew. Yeah. I get I skip that. I skipped over again. I'm excited. The worse when it comes to mind for me, and probably the most effective in my eyes would be the, the yard signs right in front of the house in in that neighborhood in the arrows. Yeah, we do we'll do a yard sign or two, and then we'll do up to ten EROs on the streets around that property, directing traffic to the property, all very simply that the signs say is rental on no banks easy qualifying the sand. Some mix of the of those terms and the property information I'm with the extension number. Then they call that they listened to the property in them because they call into that line that stands tend to my Email, whether even massacre nine, I'm following up with them. Of a what's what's another marketing avenue to get people until you know, besides the art signs share. We do Craigslist under for we advertise under first sale by owner. Also for ramp by owner. And when you're starting out, you wanna you wanna be posting every day on that Craigslist, lets you renew the ad every forty eight hours or so. But you wanna be hosting every day. She Evan active at all. It's time going on, on there, now they do get flagged or ghosted or deleted by people. You can't control that you just have to stay vigilant on it and keep posting it. I know a lot of people out there will talk about. Oh, no. I have this system that will that will post to it from VA thousand times a day. That's awesome. But very rarely does that work in that they're not they're not monitoring had sold. They don't know. They don't know if the ad gets deleted, or ghost in, and that's something that we do will post the ad. And then if we're post the added not having results go, and look on the public end to make sure that the ads showing up. That's a place that we advertise also on Zillow for sale by owner. There are there are a few other sites that we post to ran links is a great one that that is a portal that sends it out like all over the web to all these different websites. It syndicates to a bunch of different websites. So that's a, that's a great one. And we have the same add just the description than a space than the property information line. That's how we get our that's in short how we get our buyers and before before we get to the maybe a final third of lead. I guess lead or marketing mechanism to get people in your funnel, because we have the first which is start signs, the second one, which is some of these online, I guess, property management sites like Zillow Craigslist of places like that before we get to the third and final one, I just want to highlight that we are, and what you guys are doing that. Maybe a little bit different is that you're not first locking down at contract and then marketing that contract to buyers per se. You're trying to build up your clientele of buyer so that when you do have a property under contract, you already have the buyer signed up, Ariza my third life, third one. That third one is a buyer's list, because you're gonna get a ton of calls about the home in people are going to say, I love your program. I just wish he had houses in my area or that house, too small, or excuse me, that houses to bigger doesn't work. Do you have anything else say, No MR buyer? No, I'm sorry. We don't how ever we do get new homes every single week. What you. I wanna do is make sure you register on our buyers list on our website you can do that right on the homepage in that way, whenever derive we get a new home urine refers to know about before we advertise to any of our buyers. So oftentimes still happens to this day will send a blast out to the buyers on our list, and we'll get a few people that raise their hand that say they're interested in so we, we ended up selling the home first before it even goes to market are buyers are over. I love it. This has been an amazing session, making I wanna I wanna end and the session with one last thing just to kind of, you know, put a bow on this when you sell ultimately to a tenant buyer. How is it that you can sell the property that wasn't able to sell for the past three months? Six months year on the market for they are or the other, or the market value. So let's say the market value over properties two hundred thousand and the seller head listed the property with. Roadster for the past six months. And now the list is expired that saints hundred thousand dollar house. How is it that you can sell? That's what Tenet buyer for two hundred thousand two hundred ten thousand two hundred twenty thousand how is that the case, the that's interesting question? The reason the reason is, they're not the majority of them are not concerned about the purchase price what they're doing or what they're looking for is the opportunity to get in a home doesn't doesn't necessarily mean that they're not getting a good deal because they still are getting a good deal. I'll always answer off. It's an objection or a question like that with the benefit. So if someone if a buyer says while that's that price is too high. I kid you that press that hustling, worth one seventy or one seventy five I'm not interested. I'll say, oh, Mr. by you can pay cash or get along today. You if so you welcome to makes an offer. I mean if not our rent to own. Program. The prices, two hundred thousand let me tell you why. That's a huge benefits, Hugh. So you're locking in your price, Mr. buyer today. So now we're finally in an appreciating market where the values are appreciating anywhere from three to eight percent per year. I mean this great area. This house says it was probably closer to the eight percent per year. So as the values are continuing to climb continuing to appreciate your gaining in an increase in value. And also any work that you're doing to the home that in any subsequent increase in equity, that's that's occurring because of the word that you deserve a home. That's your benefit, not ours. See a of the investors out there will try to take that from you. We don't Mr. buyer because you deserve that. That's worth that. You did you deserve that. We're not going to renegotiate the price in three. Years, two or three or four years when you're able to get your loan. So oftentimes we've had buyers who bought homes of us, only eighteen months ago. The home is already appraising for sixty eight thousand dollars more than what they bought it because of the increase in value in the market, and also the worth of a did so the property. So it's a huge benefit our program there, there, there are. No. There's no pitfalls of this. Dolan's no-one no-one numb coming out on the other side of winner of a and I love how you explained Sosa Sinclair again, there are many benefits for the buyer. There are many benefits for you. As the investor you, you as a person staying in the middle of the view. There are many benefits to the seller. Like there's a win win across the board. If you know how to how to construct these deals in a it's simply amazing to kind of walk through this credit strategy, which you, Nick. So thank you so much for the time that you've kind of given a to the listeners in the negative job. They've been phenomenal lifestyle. Style designed acceleration hacks. What is your favorite before the millions book, I would have to say the one that started me on the whole the whole path of, of kind of, of kind of the, the energy in, like just understanding things that deep level is a leap of perception by penny Pierce occur. That is a new recommendation. I'm gonna have to check that out, ladies and gentlemen, that recommendation would will be in the show notes. What's it is pretty? It's, it's pretty deep, but it's helped transformed itself transformed me, I think just understand things at a deeper level in it, it really by understanding myself at a deeper level able to better help other people understand their situation. So I think there's a lot in there is a there's a lot of chew on of a federal definitely being the outs. What is your favorite lifestyle design app? This can be a business app or tool up until up until about a I would say about a year ago. I was personally in Ling every single buyer inquiry that came my way, every single call every single Email, I was personally handling it in wasn't probably, not the most open minded of me, but I didn't wanna do it any other way. Because what I was doing was working it had worked for years. So an insana thing, any reason to change it. Well, I had to because I was just losing my mind it was, it was insane. The number of inquiries off this new software that we God for to manage our properties automatically marketed to bunch for websites. I just couldn't handle it anymore. So woods Zack's help sec beach, my brother-in-law. He was the one who is actually kinda urging me to use this investor few system. So through investor fuse, which is. Investigate uses a contact managing system. For I'm sure invest investor familiar with flied through that we built the system, actually with ex help bot-, you know, we built a system, which is whenever someone inquires will automatically have our via download that, that name a number knee mail into a contact into impassive use a taxed of voice message in an Email goes out to him that says, hi, thanks for enquiring are rental. You inquired about the run tone program are rents own home are rental program. It's a good fit for everyone. I before we get you in there. Check out the video on our website that goes over how our program works, if it's a meal do give me a callback. So I'm only dealing with for the most part. I'm only dealing with people who call me back after they've seen the video, there's still a lot of people that. Don't see the video, but at least it's putting that wall in front of infront of me where most the majority of the people that don't speak. What has seen the video and have been educated? Now a few plan goes on that are few days later, if they have responded, another call the voicemail Texan Email going out to him. Hey, you still interested. You inquired about the home. But that's something that I had to do manually for all these years. So that's the I still have to return a lot of Ponca ossified. It's not as much front loaded as used to be. And that's all because of investor fuse, which sounds like on almost like a CRM. Yeah. It is. Yeah. It's do we actually have the first version of it still podium. Oh, it's two podium. It's an it's an ad on through Cody. Oh, or I don't know what it's called after podium. But the new system, invested us two point zero which we haven't even switch over to we haven't switched over to yet. Because just seems like they're working out the kinks, everything that's a standalone system. So eventually, we will switch over to. I just don't think there's a reason to now doctrine. Okay. Awesome, awesome. Awesome recommendation. What do you enjoy most about the way your lifestyle is currently designed, I enjoy the factory that the reason that I like real estate is that it allows me to have the freedom time freedom to pursue my other passions. That's really wild like I'd like real estate. And also the I just I enjoy working with the buyers in, in the coaching because on the coaching end of, of things. It's not like I'm doing anything different. I'm still helping the buyers but by by having a system of the prosthetic I briefly. Touched on the process earlier by having that process. I'm able to create this time freedom where I'm able to for the most part Todd. Do what I want how I want to do it as long as they get the word done. What were the sacrifices that? You knew you had to make before the millions to get where you are today at good question, I don't I don't look at it as, as Chakra ffices probably probably just just buying due to my experience with my accent, everything. I don't. I really don't look at anything as tackle pice, just great just grateful for what I have, and I don't know. I don't know if that's going to deport. That's a beautiful point of view. Replace that word sacrifice with regret. I try not to have any regrets. I think that everything happens for a reason, and everything has happened. I can't wish that it didn't happen. I it's brought me to the exact point that I am today. Like things would be totally different. If. One little thing was out of place. I feel like almost like the matrix, or inception. You're right. But I don't I don't have that I don't have a single own regret. Like Tennyson never have now maybe there for for a minute. But I immediately put my mindset to know that. Hey elsewhere. He's and learn from that. And if you don't want this happen, again, make sure that's happening again. But I love that. I love that Taliban, who was essential to your growth before the millions. And why this answer might be cheating a little bit. But I feel like my dad was just way that the way that I grew up in just a lessons. The lessons age, haunt me when I was growing up. I remember, remember back to one time I used to wash cars and a car washing business when I was younger before, and even after maks. So I would. Well it was before the end. Yeah, it was before. I n after Maksim mainly before I had the car washing business when I was. Over thirteen years old, where I would I had a motor scooter. So I will get on the motor scooter and draws to people's houses with my kit that I had him wash their cars. So basically a mobile detailing service. I remember. I remember after my accident, I was or could have been before I don't know. But I was watching I was washing. One of one of my parents cars, and I didn't I just kinda rush through it at him. Really do the best job that I could do. My dad calm down for my Roman. He asked me to come out until the garage. I still remember this. He grabbed me and grabbing by the arm and said, is this. So is this the best you can do? And I said, no, I kind of I was on. I kinda I kinda rush through it. I, I don't know. I wasn't in the mood. I wanna do it. And he was like, remember, remember something Nick, you will always do the best. Hugh can, I'm anything doesn't matter, whether you're getting paid for it or not. You always do the best you can. And that's something that always talk with me. Notre words mass at least my man, why do you think so many of us are stuck before the millions even though we have every intention of getting to the millions, there's probably going to go against the grain different direction? But I think that you have to you have to practice gratitude on a daily basis and be grateful. Be grateful for what you have by being grateful for you. Have that opens doors to the things that you want in your life. I totally agree. I love that. You know, I think about our goals, and we'll wrap up with this, I think about our goals, and we're often in constant pursuit of our goals. Constant constant, pursuits aware. Pay attention to the little milestones that we hit a long way like through never really give those any credit like it's always, like no I'm trying to be a millionaire. I'm trying to have five properties by the end of the year and it's always working towards that goal. And once we get there, even that achieving that goal is so short dry cycle. You know, this is this is nothing when I need more, right? It's always more. It's always more. There's always, there's always something after and that's almost like the hamster world that we were on his humans, and we're never actually satisfied, and for a lot of us when we're looking towards a goal, it's like, well, I am not going to, like, you know, for instance, I'm not going to be charitable until I reach X amount of dollars. I don't have any money to give away like why would I give away money when I don't have anyone that, you know, just using this example of what you, can, you can apply this, every air life. You know that's a lot of people from tally. Like, once I get I'll have enough. I'll have enough to give. Right. But what you're saying is like, no, like you have to receipt, you have to be you have to be gratuitous. I right. You have to know that. Hey of the little, I do have I'm grateful to have this. And this is an abundance to what many other people don't people don't have, and the little. Do have I can service. I can I can break off his I can give that because giving that is, as a sign that you're grateful is that you have gratitude. Right. And by performing that act by not being know again, most people are like no like white slide do this wait till I have this for. I can do that. But no people get it wrong. You need to you need to be that person. Right. You need to already be unique already have grads who you already you already needs to be gravely meet the celebrate those small winds all the time. Like every single day of progress is beautiful, you need to have indeed grateful for that. And that's when you opened the floodgates as that's when we opened the door for more. That's when you you're opening your body abundance in your life. So I think it's actually not against growing, but it's it's against in the fact that it's not I were intuition, like it's not our, our set modality. Right. Are central Dallas. Is like wait until I get to give, but we used to flip it to, to be a retooling to gift. I and that's how the floodgates of how you ended up that look this has been amazing. We done so much from you. We've gotten a ton of value, you drop value. Extra volume. Thank you for sharing your story and being so open. And then we learned about the tenant buying process in men. I know there's something we haven't covered before. So another listeners like this was awesome. At one little bit more about you get to know about some of the things you guys have been working, they find some information if they're interested. I don't you know, it's definitely not a good fit forever. I'm not pretending to be all things tall people while, we're not rather, there is free webinar. It's called the on your terms Wepener that they can get registered for there's probably over sixty minutes of content in there in the if it makes sense for them like us head. It's not forever on. They can. They're prompted at the end of that weather in our, to take the next step, that's going to be over at before the millions dot com for slash s r see, I think it's going to be jam packed full of information. A head over to before the millions dot com slash s RC, and that's where you can find out more about Nick in his company, and what they have going on this amazing, Nick again until next time I man. Talk to you, very soon. And Shannon means it was fun.