Real Estate Wholesaling Syndicate

Million Dollar Wholesale Deals w/ Logan Fullmer

March 14, 2024 Ky Logue Season 1 Episode 40
Million Dollar Wholesale Deals w/ Logan Fullmer
Real Estate Wholesaling Syndicate
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Real Estate Wholesaling Syndicate
Million Dollar Wholesale Deals w/ Logan Fullmer
Mar 14, 2024 Season 1 Episode 40
Ky Logue

This episode from the "Real Estate Wholesaling Syndicate" podcast, hosted by Ky Logue, features Logan Bentley Fulmer, a seasoned expert in distressed property acquisitions. The conversation delves into the intricacies of dealing with properties that face complex issues such as title disputes, multiple heir ownerships, and liens, offering listeners actionable advice on navigating these challenges to secure profitable deals.

Logan Fulmer shares his journey from tackling distressed properties out of necessity to intentionally seeking them out due to their potential for high margins. He emphasizes the importance of understanding the unique problems associated with these properties, such as title issues and disputes among heirs, and presents strategies for resolving these issues to unlock the property's value.

Key takeaways from the episode include:

1. **Understanding Distressed Properties**: Distressed properties, often bogged down by title issues or multiple heirs, can offer significant profit margins if approached correctly. Fulmer discusses how these properties require a more creative and meticulous approach compared to standard real estate deals.

2. **Strategy for Acquiring Distressed Properties**: Fulmer shares his method of acquiring properties by addressing each issue head-on, negotiating with individual heirs, and sometimes resolving complex legal issues. This approach allows him to purchase properties at a fraction of their value and sell them for substantial profits.

3. **Importance of Patience and Diligence**: Successfully dealing with distressed properties demands patience and a willingness to navigate through complex legal landscapes. Fulmer highlights the importance of working systematically to clear up any issues that may impede the sale of the property.

4. **Leveraging Legal and Real Estate Knowledge**: Fulmer's strategies involve a deep understanding of real estate law, including how to deal with judgments and liens, and how to negotiate with various stakeholders involved in a distressed property. His approach underscores the value of legal knowledge in real estate investing.

5. **Opportunities for Real Estate Investors**: The episode encourages investors to look into their existing pipelines for potential distressed property deals that they might have overlooked. Fulmer's insights provide a blueprint for transforming these challenging situations into profitable investments.

This episode not only offers valuable lessons on handling distressed properties but also inspires real estate investors to consider these complex deals as opportunities for significant returns. Fulmer's success story serves as a testament to the potential rewards of diving into the nuanced world of distressed property acquisition.




Check out Logan's Next Event - https://april6.carrd.co
Follow him on IG - https://www.instagram.com/logan_fullmer/

Join our free Facebook group for exclusive content and discussions. Watch our live podcasts every Friday at 12:30 PM and interact with our guests. https://www.facebook.com/groups/277859441021919


Connect with Ky:

Wholesaling Syndicate

Join The Syndicate Mastermind

Youtube

InvestorPlug CRM

Show Notes Transcript

This episode from the "Real Estate Wholesaling Syndicate" podcast, hosted by Ky Logue, features Logan Bentley Fulmer, a seasoned expert in distressed property acquisitions. The conversation delves into the intricacies of dealing with properties that face complex issues such as title disputes, multiple heir ownerships, and liens, offering listeners actionable advice on navigating these challenges to secure profitable deals.

Logan Fulmer shares his journey from tackling distressed properties out of necessity to intentionally seeking them out due to their potential for high margins. He emphasizes the importance of understanding the unique problems associated with these properties, such as title issues and disputes among heirs, and presents strategies for resolving these issues to unlock the property's value.

Key takeaways from the episode include:

1. **Understanding Distressed Properties**: Distressed properties, often bogged down by title issues or multiple heirs, can offer significant profit margins if approached correctly. Fulmer discusses how these properties require a more creative and meticulous approach compared to standard real estate deals.

2. **Strategy for Acquiring Distressed Properties**: Fulmer shares his method of acquiring properties by addressing each issue head-on, negotiating with individual heirs, and sometimes resolving complex legal issues. This approach allows him to purchase properties at a fraction of their value and sell them for substantial profits.

3. **Importance of Patience and Diligence**: Successfully dealing with distressed properties demands patience and a willingness to navigate through complex legal landscapes. Fulmer highlights the importance of working systematically to clear up any issues that may impede the sale of the property.

4. **Leveraging Legal and Real Estate Knowledge**: Fulmer's strategies involve a deep understanding of real estate law, including how to deal with judgments and liens, and how to negotiate with various stakeholders involved in a distressed property. His approach underscores the value of legal knowledge in real estate investing.

5. **Opportunities for Real Estate Investors**: The episode encourages investors to look into their existing pipelines for potential distressed property deals that they might have overlooked. Fulmer's insights provide a blueprint for transforming these challenging situations into profitable investments.

This episode not only offers valuable lessons on handling distressed properties but also inspires real estate investors to consider these complex deals as opportunities for significant returns. Fulmer's success story serves as a testament to the potential rewards of diving into the nuanced world of distressed property acquisition.




Check out Logan's Next Event - https://april6.carrd.co
Follow him on IG - https://www.instagram.com/logan_fullmer/

Join our free Facebook group for exclusive content and discussions. Watch our live podcasts every Friday at 12:30 PM and interact with our guests. https://www.facebook.com/groups/277859441021919


Connect with Ky:

Wholesaling Syndicate

Join The Syndicate Mastermind

Youtube

InvestorPlug CRM

I'm super excited to be talking with one of my good friends, Logan Bentley Fulmer. Logan, thank you so much for joining us today, man. No doubt. Hi. How are you? I'm doing good, man. I'm happy to be chopping up with you. I mean, I know you're my favorite people here in town. You know, everybody says nothing but good things about you. And you have a great reputation. And, man, I'm just happy to be doing this event with you next week, man. It's crazy. It's, uh, it's already less than a week away now. 2s Yeah, I appreciate that. It's going to be fun. 1s Yeah. I mean, I'm looking forward to it, man. We got a bunch of people coming out, people flying in from all over the country. And I know you're going to be talking about distressed property acquisitions there, right? 1s Yeah. You know, over the last couple of years, there've been a million different topics, and I've kind of struggled with trying to figure out what the right message is. And, you know, I've kind of gotten to kind of gotten to the point where I realize 1s a good message that I have for folks. And it and it really points towards the basis of my business. So I'm kind of excited most of what I'm going to be talking about this year while I'm out there is a distressed property acquisition, and I'm not going to really focus on talking about commercial real estate or residential or development. It's where do these deals come from? Because if you follow me, you pay attention. You know anything? I get the Whopper deals for the tiny bite sized prices. I always have massive margins, and that's probably the most interesting part about it. So that's the share. This one is from my time talking about Awesome brother. I love that and I know my audience would love that. I know everybody listening would love that. So so let's dive into that. You know what's how does that look for you? If someone's just starting out, they kind of want to model what you're doing. Where do you recommend they start? 1s So strangely enough, I kind of started doing it this way and I just didn't know what I didn't know. So when you're starting a business and you got no money and you know your time isn't worth a flip, well, you can spend all doing one thing or you can spend all your time doing another, but you're still not getting rich quickly at the moment, so it doesn't really matter. Luckily, I spent time trying to solve a really hard problem. So while I was solving this hard problem, everybody else was solving this hard problem. Um, once it developed, it took off rapidly and gave me a huge amount of profitability. And strangely enough, it's been very stable in a good economy, a bad economy. It's worked really well. But, um, what I like about it is if you didn't build your business from the beginning like this, but you have the understanding of your real estate concepts, whether it's buying rent houses or flip houses or wholesaling or whatever, most people in real estate get to the point where they have to get their own leads, and that's how you're going to get your better deals. So most people that we're going to be talking to or listening to this are in that flow. And if you're in that flow, you for sure, sure come across a deal that's a mess. Whether you have a title issue, multiple owners that are fighting lost owners, um, a break in the title chain or a big attorney general or someone wasn't paid child support or an ear wrestling. All these things that can stop a property from selling simply and quickly that that situation right there is the calling card. And you don't have to stop doing all the business that you're doing right now to do these. You might just say instead of walking away from it, I'm just going to pluck one out of this pile of mess. I'm going to work on that one as a pet project. And if you do it and you spend a fair amount of time and you really work hard at it, get some good advice. That one deal could very easily be the best deal of your year and not get in the way of your business, and then at that point you start to see the light should come on and you say, wow, I see something that other people don't see. And I can use a small amount of money to make a much bigger amount of profit with some skills. And then you decide, do you want to do more of these? What's that look like? Hmm. Now, I know I personally lost the few deals just in the last couple of months on, uh, messy title deals and deals I didn't know what to do with, and that just let them go and think about. Now, I probably left some money on the table, man. So, yeah, I think that's huge and definitely something I'd like to learn. I'm sure anybody else would do. 2s Yeah. You know, real real estate investors like things that are simple, cheap and fast and messy. Title deals aren't, you know, they're slow, they're complicated, and they can appear to be expensive, although they're not themselves. The help that you'll pay for to get them fixed, like the attorneys. Um, or 1s let's see, what else do you end up spending a lot of cash on? Um, bylines, you know, negotiation, stuff like that can get expensive along the way. But what's actually cheap itself is the property that's the cheap part of the equation. 1s Mhm. So that makes sense. So is there like um a cost or calculation or some kind of equation that goes to your head when you're like, is this still worth pursuing. Does it have to be a certain amount of meat on the bone, or how does that look when you know what to go after and what to let go? Dude, that's actually a really astute observation early on in our conversation, because when I talk about this a lot, I'll get calls or emails from folks and they'll say, hey, I got this deal. It's got 30 errors, it's got judgments and liens on it. I can't get it closed. And I have it under contract for 50 grand, and I'm going to sign it for 65. I'm like, don't call me with that. Yeah. Like, 1s what is the juice worth? The squeeze? That's what I ask a lot. And you know, when these deals that have this kind of mess, there needs to be a 50,000. I like to be $100,000 margin before I'll touch them. But. But I always try to set the standard that I want to be in the deal for between 20 and $0.50 on the dollar. And so I go in, you know, looking at what debts there are currently, is there a mortgage, are there delinquent taxes? Are there judgments and liens? You know, I kind of go in and assess that and then I'll kind of set a budget, you know, on top of that, do I have one owner or ten owners, whatever that looks like. And I'll say, okay, I can give each one of these people about this much. And I just get conversations going and I start softly floating the pricing to folks. Um, and, and I explain it to him along the way. Look, you have all these problems with your real estate. For example, you know, your cousin who owns 25% of this when your uncle died, your cousin or your cousin hadn't paid child support in 20 years. He has 80 grand and his shares worth 50. Any money out of this deal if we can make it work. So conversations like that happen along the way. And when you start to frame it in a way where it makes sense, I just tell people, look, I'm going to take your seat at this messy table. I've been trying to fix these problems for years, and you can't. I'm just buying a ticket to your dance. I don't even know if I want to be at your dance. It might not even be a fun dance, but you don't have to go to it anymore. And I'll give you dollars if I can take your place. That way it detaches the price I'm giving them for the value of the real estate. And the reason I do that is think about if you take a Cadillac into a car dealership and it's brand new, in good condition, you bought it last month. It's got low miles. Paint's perfect. No scratches. Those runs great. You take it and trade it in, you're going to get top dollar. But if I bring this thing in that's 25 years old, it's smoking. You know the front bumper is got dents. The other the other door's been primer. The front window is broken. If I bring that up there and ask for top dollar, they can laugh, right. That's what you're bringing. You're bringing me a piece of shit and you can't get top dollar for this piece of shit, right? So that makes sense. So basically. So you're. I like how you're kind of detaching them from the property. You're saying, hey, you know, you have all these problem points, it's a headache for you. It's a nightmare. I'm going to give you this. You walk away from and I'm going to take on all that responsibility, all that, all that headache. I'm going to take that off your plate. Is that kind of the same conversation you have if there's multiple errors or you kind of having that same conversation with each air? Yeah, there's a little different rendition with each person based on what they tell you, but it generally is the same. What I find is in multiple is usually one person or a couple people. They're sort of like the ringleaders. Most right family members or owners defer to them. And that's personally I spend the most time dealing with. But yeah, the pitch is that yeah, that makes sense. So if there is someone who has like child support or some kind of issue, is there a way to still get the deal done if they have, like if one party has like preexisting things that could hold it up 1s there is. So the first thing I'll say is for anybody that's listening, you know, we'll talk about some technical things. And I want you to know that what we're talking about is a deal that's already in your CRM. You probably already walked away from one because you got your title commitment back after you got a contract with a seller. And one of a few things happened. Your title report has a bunch of judgments and liens on it, and the seller didn't pay them and the deal couldn't close owners. And some of them said they didn't want to sell. Some of them did. They couldn't get together, so the deal didn't close. We all know those are in your CRMs right now, and you just walked away from them or just quit working on them. That's what we're talking about. Once you identify that now, you'll listen to what kind of you're talking about today, and you'll go back to those people and start a conversation, but a different conversation, and it'll go kind of like, um, 2s like. Wait a second. I just went blank. I was going down that route. Yeah. Would you ask me? Uh, 1s so basically, Dan, with the other areas, if there's one problem, er, if there's someone that has some baggage to bring into the deal that could hold it up, how do you deal with them? 1s Okay. That's right. So you're going in having a similar rendition of the conversation I just had, but you're letting them know all of the problems that exist. And you have to write out kind of a game plan before you have this call. But what you're trying to sell them is that you're taking their seats. So, for example, when I'm talking to maybe a ringleader, I'll let them know. Look, I know your property is I do the opposite of what a lot of investors do. The properties are 300 grand on the appraisal district values, and that's what everybody looks at. Um, I go back and tell them I'm not arguing with you. Their properties worth 300 grand. And a lot of investors always want to argue that it's worth less. You know, that's the first point of conflict. I don't want to do that. I'm not front and honest. Your property is worth 300 grand. But that is the Cadillac that's been all fixed up. You got to fix the dent. You got to air up that tire. You got to replace the front window. You got to get a paint job that's worth 300 grand. Now, your property has all these issues. So you got a judgment for this amount. You got a tax lien for this amount. And Johnny boy, who is your, you know, younger nephew that can't be found? He also is a drug addict and vanished four years ago. That guy's got to be found and dealt with too. So I'm willing to give you some money. But I want you to know that again. I'm taking your seat at the table, and the money I'm paying you is not really a an indicator of what the value of the property is. It's my price to replace you. And there's the tricky part. If I can't get this solved, I'm in your seat. I bought property which you inherited. You didn't pay any money for this. I have to spend money to take your place. You go off in the sunset and go on a vacation or whatever with the money I give you. Now I've invested and I can't fix it. I'm stuck with it. You inherited it for free and can't fix it. So it's not a burden to you. But can you imagine if I spend a bunch of money on it? I can't fix it. Now, you can take a risk that I'm looking at taking on. And when you start to have some real world just transparent, like. 1s I'm not trying to play this bullshit or the sales game of, you know, boxing them in a corner and overcoming objections and devaluing their property and playing mind games. I'm not. I'm up front. And the interesting part about that is they trust me more, they respect me more. And I do tell them something that I'm completely honest about as well that I like. It sets me apart from most people, people in Texas that can do a deal like this, and I'm better than the other five. So if you'd like to work with me, I can assure you that I can buy you out. But no one else can make those assurances because I'll buy your property one owner at a time, instead of rounding everyone up at the title company. So that's a much different proposal when you're talking to everybody. I bet you usually tell them, guys, we all have to go to the title company and close together. I'll take one share at a time until I eventually collect them all. And that's a very different proposal. Yeah, that makes a lot of sense. Yeah. Because no, I do do it the way that you mentioned. And yeah, we've run into a bunch of headaches and we'll have one party that's they're the ones holding it up. We'll get them on board and then the other one, then there'll be a different party member that'll be like, oh wait, no, never mind. Now we want something crazy and it's never fun. So so here's the here's what happens when that situation happens. I start buying the shares one at a time, and they come close at my office or a local attorney's office. And let's say their proceeds are going to be 20 grand per person, five people, 100 grand total. I start to tell them, you know, they're committed, they're done. At that point, I tell them, I'm not giving you 20 grand. You can come to my office and I'll give you five grand in cash. You're going to close it, my lawyer in my office. But I'm giving you 20 for your share. I'm giving you five. But your cousin said he ain't selling. Unless this, this and this. And we all know that ain't happening. So when I started for cash and folks out that last holdout who's always causing trouble, they know somebody's coming for him. Because no one else that hold out usually has held them out for a long. If you can't tell. I start to understand the psychology of these people because I've been dealing with them for ten years. Over and over and over. They're used to holding the deal up, and they can always hold the deal up for years. At this point, the train's coming, but he ain't stopping it. So they're buying a share at a time until I get to that last person and let them know you can deal with me nicely, or I'm going to file a lawsuit. I don't really care which one, but Friday, one of them's going to happen. You get to pick which one that is. Mhm. Okay. So that's interesting. So I was wondering yeah if like they're that last holdout if they're like oh my share is worth more now because I'm the last piece of the monopoly board that you need. But you said you can just file a lawsuit if they try to play that game. So I see it differently. And I've had people tell me I'm the last person you need. Mine's worth more. And I say, man, that's that's strange. I see it differently. I actually your share is less valuable because you're the last one. And if I don't buy you, you're going to put me in a spot that I have to file a lawsuit against you. So I'm not willing to give you a huge amount of money, but the money that I give a lawyer for a retainer, which would be about five grand to get started, I'll give you that. But I don't feel good over the barrel. And charge me extra, because you've hurt all those other people, and you now want to do that to me. So I would rather give more money to the lawyer than a little bit to you. So. 1s Because let's figure out which one we're going to do, guys. There are a couple of ways to solve that. But you know, for folks that are out there listening to this and saying, wow, that sounds complicated. And over my head. If you go if you spend a little time learning about this, but you go to a local real estate attorney, you'll have to interview a lot of them to get one that is willing to buy undivided interest and file a, uh, partition lawsuit. Those two skill sets right there will generally get you beyond almost all of the roadblocks here. You don't want to follow the partition lawsuit because just slow and costly. But if you have good margin, you built that along the way and you prepared to and you're really ready to do it. The last person, 90% of the time is going to work with you once they know you're not horsing around. And if you actually do file the lawsuit about another 80% of the time, they'll settle with you immediately thereafter. Hmm. 2s Yeah, it makes sense. So you really do need to be creative. When people say, I'm a wholesaler, I'm a real estate investor. I'm creative. That's creative. Great. But if you want to do these deals, you need to get another layer more creative. And you dig, you figure out. I'll give you an example. When you have a judgment that's more valuable than the property, let's say you got a quarter million dollar lawsuit judgment that one of the owners had a construction company any fault, and got default on a contract and got sued. There's a judgment against them worth a quarter million. Let's say the property's only worth 150 grand, but that judgment is 5 to 7 years old. Usually, um, creditors, they know that if they don't collect on that judgment in the first couple of years, the odds are very, very low they're going to collect on it. So what I'll usually do is call that creditor and say, and I don't tell them I'm buying real estate, but I tell them, hey, my name is Logan. I buy all judgments and liens. I pay 5 to $0.10 on the dollar. I saw a couple of mountain land records that you held. Would you sell them to me for 5 to $0.10 on the dollar? And they say, yes, I'll go buy that quarter million dollar judgment for 5000, $10,000. And then I go back to that last person who was holding out and say. 1s Office judgments evaluated at a quarter million. You can either sell to me for a fair deal, or I'm going to use this to foreclose on your share of the interest in the property. Because I took the creditors place. That's brilliant. That's. I didn't know you could do that. It makes so much sense. 2s It's an aggressive strategy, but at the end of the day, 90% of time, I never have to get that far. But that's your end all. Be all. Like, if I can't get this fixed by negotiating, I'm going to do that. But usually when you spend the time and you talk with family members and you say, look, I know you and Johnny had bad blood, please don't punish me for y'all's bad blood. Let's talk through this and make it work. And if you're open and and you treat them with respect, and you don't act like a jerk, like 80, like a large part of these people in our business do just being the right guy. That'll get you so far. Mhm. 1s That makes a lot of sense. Now are there certain judgments that you can't buy or they're only certain ones that you can. Is that whatever way smaller I guess. Yeah. If you're looking at judgments like, um, restitution from the federal government, um, stuff like that, like, oh, I forget what they're called now, but yeah, the restitution stuff, you'll have judgments and liens like county code compliance liens, city county compliance liens, state liens. You can't buy municipal or federal stuff outside of that. You can buy almost. Anyway, now you have some creditors like Toyota motor credit. They just won't sell their judgments. Why? I don't know, they just won't do it. Some are slow and hard to deal with, but a large part of them, you do have the ability to negotiate and buy from them. Now here's another thing. When you get your title commitment, this is like a golden nugget that everyone needs to pay attention to when you get your title commitment back. Most of these judgment liens are only good for ten years. And what I don't understand, I still have never asked the question. Title companies put all of the judgments and liens under Logan, Fulmer or Kai's name. They all show up on that schedule, see? But every time I get one like that, I look through it and say, that's over ten years old, take it off. That's 13 years old. Take it off. That's over ten years old. Take it off. And you know what the title company does. And I say that they take it off. Wow. I don't know why they put a judgment or a lien that's older than ten years on the commitment, because it's it's not collectible. And if it hasn't been refiled, you can ask them to remove it and I'll do it. So that's how half of those judgment liens go away. Right off the bat. Wow. That's great. So ten years is the cutoff. 2s Yeah. Most number ten, some 20, but most of them are ten. And now a creditor has the ability to refile those. And this is in Texas. If they don't refile them which most don't you know. Yeah. They're gone. That's that's a great gold nugget. Yeah I feel like if you got if you didn't listen anything else listen to that because that's huge. 2s Yeah. So so what does this look like. Like day to day. 2s A very common deal like this that I'll do is a property that I'm all in for about 50 to 70 grand, and I sell it for between 2 and 300,000. Now that that'd be my flip. Now there's no painting. There's no new roof. This could be a house with a house on a little land. It could be a nice house. It could be a shitty house. It could be land. Any property that's worth somewhere around that range. I've got enough equity to make it worth my time. And there's enough margin that if something goes wrong, I can spend a little extra. Or I got some in the Philippines. I'm buying their share right now, and their mama has been instrumental in this deal. The deal would not have gotten done if their mom hadn't helped, and they went to the console and signed all the docs, uh, this week. And the mom emailed and said this was her another relatives of her. And she said, what share do I get? And we're like, dude, you don't get any share. And you know, while me and the guy that I was working with on it were talking, I just said, look, she legally doesn't get a share, but she's helped us so much. Let's give her anywhere between 1 and $5000. You make the decision in payer. You know, we're going to have a great margin. We're going to make a couple hundred grand on that deal. We're gonna make about 300,000 on in net off about a $70,000. And I'm happy to give the lady that helped facilitate five grand. That makes her day. Maybe she really helped us out. And it doesn't even threaten our margin because we're able to pick up great equity in the beginning. So yeah. 2s So you have some discretionary things like that you can use along the way to to help you. Yeah. That's huge. 1s So if somebody is like going through a CRM like, hey, I know I have some deals that might fit this criteria. Um, is there any like like checklist or is there like some kind of like qualification? They can ask, like, I know we kind of mentioned the numbers before we go there again, but is there anything else that like maybe this deal is worth going after. Is there anything else that would. Not include a deal, I guess to be, um, spend time going after. 1s The first thing I would say is, if you think they're 30 or 50 owners, I'd probably shy away because that's a lot of work. Um, outside of that look and see if there's big equity, if there's big, big, big equity. Hundreds of thousands of dollars, then you know, that's worth playing ball. There's so many different renditions of this kind of deal that, you know, it's hard to make a template of it. Um, but, you know, I say that on the back of saying I've done several 50 and 60 air deals where we were literally bought 65 heirs interest over the course of 90 days, driving around town with cash and a notary and a deed buying shares from people one after the other until we collected all 65. Wow. That's wild. I know you're I believe you're doing a webinar on how to find these here soon, right? 1s Actually, yeah. This week on Thursday if you if somebody's got some interest. Um, one of the big questions that folks always ask is how do you find all these owners going to ask next. 1s That's it. So if you go to the appraisal district office and it says, I don't know Logan former, but Logan's dead. You don't know who his kids are. You don't know how to find them. You don't even know where to start. That webinar is going to cover that. 1s So if you'll email office at aap, USA. Com its office at aap usa.com. Um, just shoot an email over there and they'll send you the link. Usually those webinars have a couple hundred people on them. We have a really good group of folks that come to those, but I do them because they're a great community builder. They get a lot of people talking. You get to know a lot of people and man, a lot of good deals get done from those folks, get to work with us. We get to work with some really interesting folks. We never we wouldn't know otherwise. Um, and we help out a lot of pieces of this puzzle. There are literally tens of thousands of deals like this everywhere. You're sitting. Yeah, absolutely sitting. Waiting for you to go do them. Yeah, man. That's awesome dude. So are you are you purposely targeting these deals that might have issues, or are they just coming across from your normal marketing? Or how do you find these deals? I guess is a better question. 2s Originally I didn't look for these, but I was doing deals in a place. There's a lot of distress like this, which is these side of San Antonio, and there's the market started to get stronger. I couldn't go buy deals quite as cheap as I had been, and I remembered a couple of them that had issues, and I just fixed the problems. Um, so I went in and. 1s Um, I went back to look for those specifically when the market started to get better, the better or the the easy good deals weren't there. So I went back and looked at the problem deals that existed that no one was buying. And it started to get easy to find. Some began intentionally targeting those. You know, now it's been ten years and I'd say, oh, I don't know, seven out of ten deals that come through my office have an element of distress. But I now apply that to a lot more, um, types of real estate instead of just the single infill housing. You know, these days I've got branches. I've done a dozen or two ranches like this. I bought commercial properties. I do a huge amount of the small rural acreage, less than 50 acres. Um, and every year I'll do between 1 and 200 transactions by office. And at least 70% of them have pretty extreme distress. Wow. 1s That's crazy, man. 1s Now there are a couple ways to look for him. But what I'll tell you after this many years, what I have found is almost every single deal that has this level of distress. Eventually, the owners can't fix the problems and they stop paying the taxes. So the very simple place to go find probably properties like this is pull your delinquent tax list in your county for a couple hundred dollars and start calling. I bet you're 1 in 2. About 50% of the properties down there have tax title issues, and once you get that conversation going for the newbie, you can figure out what they are. Now, once you start to get more sophisticated, you'll be able to look into you'll do research to identify them. But at this point, call delinquent tax list and see if there are problems. There you go. Hmm. That's some great advice. Now. So say Logan, somebody has. They find a deal, or they go through your CRM, they find a deal that kind of meets this criteria, and they don't know what to do with it. But there's a lot of meat on their bone. On the bone with that deal. Is that something you or your office can help them with? 1s You know. Yeah it is. We JV with a ton of people. Large share deals come in through JV stuff if you email us, uh, info at aarp usa.com. So it's info info at aarp usa.com do a ton of deals through JV referrals. We look at them a couple of different ways. One of them, we just tell you how to fix it and go do it because you don't need us. It's not hard. If it's complicated, then we'll look at it and say, we're a good candidate to work with you, and we'll do it 1 or 2 ways. We'll pay you out in the beginning if your personal comes on with us, or you can take a ride with us, learn how to do it our way and get paid on the end a little bit bigger. Share. That's awesome. 1s Yeah, yeah, yeah. I'm sure if everybody looked through their CRM or thought about some deals that fell through, I know any deal that follows you, for me, it's like always a pain point that I think about sometimes. So it's sure if you think about it, you'll find yourself, 2s you know, you've spent money on marketing, you had people making calls, you've done it yourself. You get there and then you realize, man, someone was right there ready to go. And it's sitting in my CRM and each lead might come cost you 1500 bucks two grand. That would be a deal for marketing. And it's dead. Yeah. If everybody on this podcast right now would go look in their CRM at the deals that could not close and just sum up the basics how much debt is involved, be it mortgage and taxes combined. What's the general reason the thing couldn't close? Call the person and see if they still want to do a deal, and if they do, send it over to us. You don't have to give me the address. Just give me, give me. You don't know me. Just give me the general, the basics and I'll tell you if it's something we think we can fix and if can, if we can, will engage together and start working on it. We do it there. If I don't get a referral for ten deals after this, I'll be really surprised because I know they're there. They're ready. Yeah, 100%. I know it's hard to trust people, but yeah, I think Logan's like, I don't say this about anybody, but I look into the most trustworthy people I've met in this game. So highly recommend if you have any deals, definitely reach out. 2s Thank you for saying that. I will tell you, I. We're very aggressive, but we're fair and firm. So, you know, a large part of our work has come through referrals. We get referrals from local judges, attorneys, escrow officers, wholesalers, investors, realtors. It comes from a wide group. And we will never cut a person out of a deal, because that's where our money comes from. And I'm not going to risk my reputation on screwing somebody for 40 grand. It's worth it for me 1s 100%. And then just to recap, I saw the messages. We're on Restream, so it's kind of weird. They disappear sometimes. But you said the best emails I know. Somebody asked, how can they send a deal to you? Can you repeat that email one more time? 2s It's info I in I info at R.P. usa.com. Awesome and I'll make sure I wrote them down. We'll go ahead and we'll get them in the comments for you guys. After. And we hop off the live. We'll make sure you guys have both of those. If you guys want to sign up for the webinar, is it this week? 1s What matters. This Thursday may be on Thursday. Perfect. So yeah, we'll make sure we get both of those and. Yeah. Um, again. Yeah. Next week we're doing our event. Um, wholesaling syndicate lives happening here in San Antonio. Logan's going to be one of our speakers. Uh, he was gracious enough to donate a couple tickets out of his own pocket. So we're giving away two tickets. Uh, first person to go to live dot wholesaling syndicate.com and use promo code. Logan. Logan. Uh, you're going to get one of those tickets again. Once those two are gone. They're gone. Uh, but I'll drop the link after it's live wholesaling syndicate.com. And yeah, we have Logan speaking about the same exact thing going into more detail. Uh, it's a great opportunity to meet with Logan network, meet with myself. We have a bunch of other great speakers. We have people flying in from all over the country. So I am super excited for this event. It's been a lot of work putting it together, but it's, uh, it's finally getting there, man, so I'm excited. 2s It's a great job, man. It's a ton of work. I've been around this stuff, and I got to come in to you. That's when you get there and it all goes off without a hitch and everybody's happy. It's a big deal. And you've done it before, so I'm impressed. I appreciate it, man. Yeah. I gotta give all the credit to my wife, Brie. She's the, uh, integrator, and she makes the stuff happen. I'm the one who comes up with the, uh, the crazy ideas, and she, uh, makes sure make sure we come through at the end. So I'm very grateful for her. 2s And then I'm trying to read the comments. If you guys have any questions. I don't know if you have a couple more minutes, but we'll do a quick Q&A. Um. Ali on YouTube asked, can you get someone out if your business if he smoked weed? 1s So I don't know if he's trying to fire someone. He said, can you get someone out if your business if you smoke weed? 1s Well, 2s uh, I don't, I don't know, uh, I mean, yeah, I don't know. That's I don't know, Ali, you're smoking weed today. Come on. 3s But, yeah, I appreciate everybody for hopping on. And we had a great turnout. And yeah, look forward to seeing everybody next week. So less than. Oh uh, no not less than a week, but a little over a week away. Almost a week away. But do you have, um, any other closing thoughts, slogan or anything else you want to share with the audience? 1s You know, I would recommend that. 1s The message that I share with folks is that you don't need a whole heck of a lot of money, and. 2s It's, um, really, really, uh, Asian out there. And you can. 4s Convert that into some of the automation you can. 3s Mm. 2s True, I kind of. 3s Oh, I 1s think we might have lost him there. They might have had a connection issue. But. Yeah, if you guys want to come out. Um, yeah. Come out next week. I'd love to see you guys. Logan's going to be there. Looks like Matt Typekit is in the comments, too. He's going to be one of our amazing speakers as well. Definitely looking forward to him speak. One of my favorite people that we have. Um, so yeah, I will now go ahead. But again it's live dot wholesaling syndicate.com use promo code Logan for two people get free tickets. Uh, but I appreciate you guys. Thanks everyone for hopping on. And, um, yeah. 222 it's going down here in San Antonio. Rick at Blue Star. Looking forward to seeing everyone. Uh, if you guys have any questions that we didn't answer, we didn't get a chance to answer. Uh, make sure to drop them in the comments. Uh, I'll go through them all after and make sure I get an answer from either myself or Logan. So I appreciate you guys. Thanks again for hopping it on. And, uh, listen and do a stock and, uh, hope you guys keep crushing it one day at a time. Hey, this is Kyla. Thank you for listening to the podcast. I truly appreciate you. If you want more of this information and you want to see these actually recorded live, go ahead, join our Facebook group. It's a real estate wholesaling syndicate. It's right on Facebook. Google it. You'll find it typing on Facebook. You'll find it. I look forward to seeing you guys in there. We give a ton of free information in there, a bunch of free trainings, free courses, get all the scripts, contracts, everything you need A to Z absolutely free and I look forward to seeing you on the group.