Karl Spielvogel Shares How Specialing Crazy Deals Turns into $200k Assignment Fees

Steve Trang: Hey, everybody. Thank you for joining us for today's episode of Real Estate Disruptors. Today, we have Carl Spielvogel with Uncle Carl's Goat Farm all the way in from North Carolina. And he's here to share how he does crazy deals and, in fact, turned one recently into a 243,000 assignment fee. If this is your first time tuning in, I'm Steve Trang, broker and owner of Stunning Homes Realty, founder of the OfferFast Homes app, the only app you'll need for wholesaling.

And I'm on a mission to create 100 millionaires. So if that's something you're interested in, let's definitely connect on Instagram. If you're excited for today's show, please give me a wave. Give me a thumbs up. And as a friendly reminder, I don't charge a dime for this show.

I don't make any money doing this. So here's all I ask. This is what it costs you to listen to this show. If you get value today, please tell a friend. You can share this episode right now, tag a friend below, or tell them your best takeaway from the show later on.

That way, we can all grow together. And this is a live show, so please post your questions for, uncle Carl to answer. Are you ready?

Karl Spielvogel: I'm ready.

Steve: Alright. So first things first. What got you into real estate?

Karl: Well, at the time, I owned some Subway sandwiches and shops, and I hated it. It was miserable. So a buddy of mine, said, hey. There's a guy named Ron LeGrand. He's putting all these seminars.

Let's go learn about real estate. So I went to some of Ron's seminars, and I went to probably three or four of them. Lou Brown started learning. I love the stuff I learned. So I started, like, going to the seminars, and that's how I learned some of the creative deals.

And then there's, I think it's Cameron Dunlop and some other people like that. Yeah. And that's how then we started, you know, trying to do deals. But the first nine months, I got zero. It was it was really bad.

Steve: So I you know, you're not the first person to say that. I think, Brian Kandinsky, a previous guest on our show, had the same thing he learned from Ron LeGrand

Karl: Yep.

Steve: Through owning Subway stores.

Karl: Oh, he had Subway store? Yeah.

Steve: He had Subway store. That's so funny. So when you you know, this is back in what year?

Karl: Probably 1999 late nineties or around 2000. I don't

Karl: know. Yeah.

Steve: So you're learning from that. Nine months, you weren't doing any deals, but then you got into it. And then what was your journey from there?

Karl: Well, I I did did this was sort of a struggle for a while, but I would buy from realtors, and I got going pretty decent. And then, another thing that we did was, started doing a little bit of coaching. Me, Mitch, and Linda Dana, we did this coaching. And then, 2008 came along, and I went from thinking I was a badass to being a dumbass, and I lost every single thing I've worked for my entire life.

Steve: Wow. So it was a little humbling.

Karl: It was very humbling. And I'd love to say it was the 2008 that what happened, but it was me not being smart. It was me buying for appreciation and and and making mistakes. So it's I really can't it was actually a good thing. It was it was very, very humbling experience.

And then I went into the used car business with my ex girlfriend, which is not another smart thing. I did that for a while and then eventually got back into doing the real estate again.

Steve: Okay. So then you got back into real estate. What year was this?

Karl: It was about March three years ago.

Steve: Okay. And so you get back in. What was your first deal like when you got back into

Karl: Well, what I did is I went started going around to all the different real estate meetups. I was trying to get back in, get to know the people, get reestablished. And I ran into my buddy, Mitch, who we done some deals together. We'd done some teaching. He said, hey, Carl.

There's a there's property. It's going to tax sale. And if you can find the guy and get it under contract, I'll give you half the deal. You know? And they're like, okay.

This might break to get back in. Mhmm. So we end up googling the guy and turns out that he's a used car used car turnaround specialist. So what we did was, I hired him. I called him up, found his resume, and I said, hey.

I'll say his name's Frank. I don't wanna give you his I forgot we got a used car dealership. We're struggling, and I need your help. And he came up that weekend to, help turn around the used car dealership.

Karl: Mhmm.

Karl: So I called Mitch back, and I said, hey, Mitch. Frank is in our office. He's like, what? You found him? He's in our office.

Steve: You didn't just find him. You hired him.

Karl: I'd hired him in the hopes to get a deal. I know that's crazy. So so Mitch comes in, meets him. We're talking to him, and we let him, you know, get to know him over the week. Like, do you have do you have any property left in Charlotte?

And he goes, no. I don't have any. I'm like, okay. So he goes back to Columbia. Uh-huh.

And, after we get to know him and then we call him up, and we're like, hey. You know, Mitch found out that you have a piece of property. It's going to tax sale. And he said, well, that's funny. Someone just called me, and they offered me $35,000 to property.

I was like, I tell you what. You know us. You know us. We whatever. We'll we'll match that price.

We're gonna come down right now and sign the contracts. We drove down, signed the contract. We bought it for 35,000. We did a little bit of like, we cleared the lot, and we had a realtor. My friend, Shannon.

She was she had she had taken me around some meetings, helped me get back into it, but she was the one that sold it for $1.15. Our net after everything was $58,000 in about three months on the first wholesale.

Karl: And I

Karl: was like, hey. I like this. I wanna I wanna do more of this. You know?

Steve: Yeah. That's really good. So right after that, you quit the the the dealership thing? Or

Karl: No. I I only did this part time. I'm still helping my ex girlfriend out, and that was that was miserable. I won't probably don't need to talk about that, but that was miserable. We were actually believe it or not, it it's it's it's 1,700 square square foot building, and we were actually living in the building.

We had three dogs. So we're in the in the back. The dogs were there, and and we were living in the car dealership. It was not it was not the best of times for us.

Steve: Right.

Karl: You know? Well,

Steve: you're getting back after losing everything. So so then at which point from, you were doing that to when did you go all in again?

Karl: It was probably about another three quarters of a year or so. So something around three quarters year to year when I went all in full time.

Steve: Right. So I

Karl: was just doing it part time Mhmm. Up until probably little over two years ago, then I went back full time.

Steve: Okay. And you said your your buddy Mitch?

Karl: Yeah.

Steve: So then you were were you working with Mitch again, or what did you do once you went all in?

Karl: Yeah. Yeah. We basically, well, he says we're not partners. We joint venture on every deal. He's he's sort of like that Charlie's Angel guy.

He's like he's a guy that makes a phone call that you never see. You know? Yeah. But, anyway so we we joint venture on every deal, and we pretty much split everything, you know, fifty fifty.

Steve: Okay. So then somewhere along the way, you did something in regards to a goat farm.

Karl: Yeah. What, this deal was, interesting. Every every good story starts was I was drinking at the bar.

Steve: So I

Karl: was drinking at the bar, talking to, my bartender, which I've known for years. And he was saying his mom is going through foreclosure. He was gonna lose the house.

Karl: Mhmm.

Karl: So I'm like, okay. We we'd be interested in working a deal. So what we ended up doing was I went and met with her, found out what's going on, and we agreed to buy it for a certain price. And what's interesting about this piece of property is it is in the county. If you're familiar with North Carolina, there's a city called Teekay, which is sort of a wealthy city.

And this piece of property was in sort of like Tega Cay surrounded on two sides and was in the county. So what I wanted them to do was I wanted the the city to annex it because to annex it into the city, then I could build two houses is much more valuable. So I called the city manager up and said, hey. I got this piece of property. I want you to annex it into the city from the the the county.

He said, well, son, we're not gonna

Karl: do that, but I'm interested in talking to you. I want you to come

Karl: down and meet with me. Mhmm. So I should have said, dad, talking to you. I want you to come down and meet

Karl: with me. Mhmm.

Karl: So I should've said, dad? No. But, anyways, I went down. I said, okay. Real nice guy, everything.

He said, okay. We're building a baseball field, and we want that piece of property. And so I said, what will you pay for it? He said, well, we'll probably pay you 85, maybe 90,000. I was like, well, that's low.

It it should be higher. It's worth more. So we end up doing a short sale on the property, and we end up getting the property for 50,000. I think he found that out. So then we called him and said, okay.

Let's negotiate. And he said, well, I could only pay you 65,000 for that property. I was like, what? 65,000? How'd the offer go down?

Steve: 20,000.

Karl: Yeah. So it went down. I was like I said, well, let me ask you a question. I said, this property is in the county. Correct?

He said, yes. You have no jurisdiction on it. He goes, yes. His own agriculture. He goes, yes.

So I said, I could open a goat farm. And he goes, well, I guess you could. So and I showed you the pictures earlier. So what we did was, we rented goats. We put these big signs, uncle Carl's goat farm coming soon.

We got these T shirts. Uncle Carl's Goat Farm coming to Tega Cay. We even had goat cupcakes made, cupcakes with goats on them. And we did this Facebook Live. We had some people come down, talked about how we're opening getting ready to open this goat farm in Tega Cay.

And, of course, this is a very rich area. Yeah. You know, I don't think they really particularly would want goats.

Steve: That's not.

Karl: And one other thing I actually did was sort of funny too was I I sent him a letter saying that we're gonna be training ninja attack goats, and I couldn't guarantee the fence would hold him in when he opens the baseball field. And I think he might have known I was messing with him. But so we had this this big production with all the goats and, everything. And, that day, we got an offer for a $100,000 closing in in in seven days.

Steve: So it increased his offer 35 k

Karl: Yes.

Steve: Pretty much overnight.

Karl: Yeah. I I don't know if it was the goats or not. I'm not saying it was, but, I think it it didn't hurt.

Steve: Yeah. Definitely made you made his life more difficult than it needed to be.

Karl: See, sometimes it takes a goat farm to get a deal. Sometimes you get it get it creative. So

Steve: Well, and I think that's something to to to look at. Right? So maybe in the future, I'll I'll consider investing in renting goats.

Karl: Yeah. All I do, I rented a you could rent goats for I've rented three goats for $200 for, two hours. So, I mean

Steve: That was a pretty good ROI. Yes. So one of the things that, really struck me, is that you like dealing, I would say, in challenging situations. Yep. So, I heard you even say I was going through some of your other, presentations.

You'll buy properties with tax liens on them.

Karl: Yeah. I mean, we we like to buy and wherever there's a problem, like, like, we're talking about IRS tax

Steve: lien. Yeah.

Karl: Yeah. Well, let me yeah. This one can I tell the story? Absolutely. I'm sad.

Oh, okay. What happened was there was a property it so it started out that. It ended up being it ended up being, IRS lien. But what happened was we drove by. It was vacant, pulled up, and there's three different owners.

Two of them were deceased, and one was, still alive. So they had and they had three properties that the tax bill is running up on. So what I did was, I went to the one lady, let's say her name is Sally, and I knocked on her door. I left her Federal Express packages. I left notes.

For nine months, I stalked her.

Karl: Mhmm.

Karl: I will stalked her. I even sat inside her house sometimes waiting for a car to come out. But eventually eventually, what happened is after nine months of stalking her, she finally called me one day Yeah. And she said, Carl, I I see you're trying to get a hold of me. I said, well, how do you know that?

She said, I have a few notes and stuff. And I said, well and here's important. I said, well, let's just talk. What's going on? She said, I'm ready to sell the properties.

Mhmm.

Karl: So

Karl: we met at Starbucks, and I said, well, tell tell tell us what's going on. You know, we're we're good at solving problems. She said, well, my brother and sister, I'm the only heir. We're we all got left the property now, and they've passed, so it all goes to me. And the reason I'm ready to sell is there's $249,000 IRS tax lien that's falling off next month, So I'll sell it to you.

So we we because IRS tax liens are only good for ten years, and they typically don't renew them. They almost always fall off.

Steve: I had no idea.

Karl: Yeah. I've never seen them renew them. I've never seen IRS foreclose. But check with your attorney, check with everything. Don't you know, before you go do do We're not attorneys.

Steve: Was that We are not attorneys.

Karl: Yeah. Yeah. We're not attorneys. We're not claiming, you know, whatever. So check with your attorney.

So Yeah. We signed the contract, and then what end up happening was, we pulled the the the lien and it was actually good for another year. So we had another problem. Mhmm. So what we ended up doing is and we knew that they were gonna fall off.

So we end up giving her 40,000 to pay off the tax delinquents.

Steve: Mhmm.

Karl: And we she deduced the property, and then, the balance was due in a year when IRS tax lien fell off. So we had three properties. One, which she gave us for 57, one for 75, and one was little tiny lot she gave us for free. I always like free property. You know?

I'll take it. So what we ended up doing was the one for 57, we waited to three months before the tax IRS lien fell off. We put up for sale, and we and we used when that when that closed, we made 58,000. So we're able to take that money to put down to pay off the rest of the money we owed. Mhmm.

So we made 58,000 profit on that, And then there's a little tiny lot, and this is thing we learned about, what's it called, a variance. I didn't even know what a variance was.

Steve: Mhmm.

Karl: But we ended up hiring an attorney to get the variance done on the property. And, basically, the variance just it moves the setbacks. It takes something that's not buildable Mhmm. And it puts it through the city, and then they allow you to build on it. We did the variance on it, and we have it under contract for a 100,000.

So we'll make about 96,000 when we sell that. And then, I think, a week or two, it closes out.

Steve: A free one?

Karl: That was a free one. So that's gonna be 96,000. Yeah. 58,000 on the first one. And then we're gonna keep the duplex because it's coming up, and we could probably sell that for close to a 175,000.

Mhmm. So we could make close to a 100,000 on that. So between everything, it's gonna be about a $230,000 deal, on one tax delinquent. Started as a tax delinquent in vacant. I mean, everybody in Charlotte could have driven by and done this.

Well, I'd say everyone could have gone by and tried to do it, but because we're persistent

Karl: Mhmm.

Karl: And persistent and didn't give up, we got that deal. And then when there was problems, we solved that problem with IRS tax

Karl: Right.

Karl: Tax lien.

Steve: And then I saw something with you drilling locks. No. Not you. Someone else is drilling locks.

Karl: Oh, yeah. Yeah.

Steve: So what was that situation?

Karl: That started another tax delinquent. Okay? Okay. We pulled it up.

Steve: And I think tax delinquent's a very popular lead source in North Carolina.

Karl: Right? It's our best. We make more money off the tax delinquents. I mean, it you guys shouldn't try this at home, but, but we we no. We we we make more money off tax delinquents than we do anything.

Steve: Okay.

Karl: So came off tax delinquent, then we use a thing called been verified. It's a skip trace thing.

Steve: Mhmm.

Karl: Put the owner's name in, show she was deceased. Then we pulled the obituary. The obituary says, who are the do the peep next to kin, whatever.

Karl: Mhmm.

Karl: We called them and said, hey. We're interested in property. What's going on? Said, well, we we left it alone about six or eight years ago, and we don't have the money. There's some liens and judgments and stuff, and we don't want the property.

We're like, well, how about we give you and your sister $2,500 a piece? She goes, that would work.

Steve: Yeah.

Karl: So here's one thing we do is we try to get on deed for very little. So we said, this is how we're gonna do it. We're gonna give you guys 500 a piece to deed us the property. So we deed it to a land trust in case there are some problems and we had to walk away. So for 5 so for a thousand dollars, we owned the property.

Mhmm. Then it turned out there was some judgments and liens and open estate, but we were able luckily, the judgments and liens were past the ten year, and they weren't collectible.

Steve: Like your tax?

Karl: Like the tax things because they're only good for ten years.

Steve: Right.

Karl: So we ended up so while once we get the property, we said, is anybody living there? She goes, no. It's been vacant. There's nobody living there. So we went there.

We noticed there's a big dog barking, and and we noticed there's these little video cameras all around the place. And we're like, something's not quite right.

Steve: Yeah.

Karl: So we had the police show up. We went through the eviction process to get them out. The police show up, and, I got there a little bit late. And, my buddy Joe was drilling out the front door. He was our partner on it, and then two police are there with their guns.

So I walk around the side door. I said, hey, guys. The the side door is open. They're like, we checked. It was locked.

We got here. Like, what's going on? So we got inside. We found this video cameras, four cameras. So they were watching outside.

So when we're trying to get to the front door, they ran out the side door. Mhmm. And get this. There's over a 100 pair of Air Jordans, size ten, ten and a half, eleven. I mean, it has a little baby Air Jordans, Gucci slides.

They had TVs, all sorts of stuff. So it was it was pretty interesting. Obviously, they were dealing drugs out of there, and that was going on. So we lock it back up, and then that night, they come back and break in again. So I think we must have not found their stash or their or their cash somewhere.

But I still have a 100 pairs of, Jordans. So what what size do you wear?

Steve: 10 conveniently.

Karl: 10. Okay. I I

Karl: should have

Karl: brought you a pair.

Steve: Okay. I'll

Karl: ship you another. But, anyway, so so we're into it for a thousand dollars. We clean it up, and we list it on the MLS. And we get offer for 95,000. So after we got sort of lucky on some of those liens not attaching and stuff, and we're able to get title insurance through our attorney.

And we were able to sell we were able to make 66,000 in about '90 little over ninety days with maybe 1,500 to 2,000 upfront, you know, invested in the property. Of course, we didn't pay the taxes off. We waited until the closing to pay the taxes off on that. So that that was a fun deal.

Steve: That's incredible. So Eric, Rishna wants to know on the other one with the with the three properties. So what's your total out of pocket on that one?

Karl: At first, it was 40,000 to pay off all all the back taxes.

Steve: Mhmm.

Karl: And then we used the sale of the other property to pay, so I think 40,000 was pretty much out of pocket, and we sold the other property that paid there might have been another 20,000. I'm not real good. My partner takes care of the numbers. He's he's smarter than I am. I just go make the deal.

So probably 40,000, then maybe another 25, 30,000 out of pocket, and it'll be probably 230, maybe 250,000 net.

Steve: Oh, yeah. That's really good. And then Eric wants to know then with this information, are you looking for tax delinquent lease that are eight to nine years old

Karl: or older? Well, yeah. The typically, we look for tax delinquents that are three plus years older. We pull them from the city, and we we we go after ones that are older.

Steve: Okay.

Karl: And we like the ones where people passed away, where the property is vacant, and there's some kind of problem. The more problems, the typically, the more money you're gonna make.

Steve: So let's talk about that. Like Yeah. What are some problems that we're solving here?

Karl: We got another one. Like, this one was a vacant house. I was just driving through the neighborhood, and I noticed it was vacant. I did well, it looked looked okay. Someone was mowing the grass, but I noticed I jumped the fence.

Probably shouldn't do this. Something about it seemed weird, and then I noticed the meter was missing. So I noticed the prop was vacant. Turned out it had, then we pulled up the two owners. They were passed away.

So the problem with this property was that there's no will, and the both the owners were dead, and the place was vacant. And then it turned out there was, on that deal, there's, like, 21 errors, six different deaths. So I guess that for this one, the is is is is and our best deals are where there's multiple errors, multiple problems like this you have to solve and get all the errors on board to to sign.

Steve: Yeah. It's interesting. I've I've never dealt with more than one death. Like, one death is, like, you know, my personal record on a transaction. So

Karl: This had six different people died, and we had to do family trees and all this stuff drawn out.

Karl: You gotta

Steve: go to, like, 23 and me?

Karl: Yeah. No. It wasn't that bad. But one of the keys too was there's always usually one one relative that knows pretty much everything. So what we did on that one, we had one of the relatives that we paid an extra thousand dollars to help coordinate most of the other people.

So she coordinated, like, 10 people to meet me in Abbeville, South Carolina to get the the deed signed there and then, some of the other places. So it wasn't as bad as it seems, but it was still a lot of work.

Steve: So, there's a property that you guys did a $2.43 on, 243,000 on one deal. Yeah. And I completely butchered the numbers. But you picked it up for 35,000?

Karl: 35,000. We sold it for $3.10.

Steve: Who the guy eventually flipped for $9.50.

Karl: And then he tore it down and sold it for $9.50.

Steve: Yeah. So he did pretty good too.

Karl: He did real well. But Yeah. But we made more money than he did.

Steve: So let's talk about that. How did you find this property that you're able to buy for 35 and wholesale for $3.10?

Karl: What happened was it came from a bird dog, a guy named Gerald, who works for us. He's pressure washing houses. And he said, hey. There's a house in this neighborhood where the guy passed away three or four months ago, and some squatters had moved in. And so, you know, basically, that's the that's the problem.

They're squatters, and the guy passed away. And I don't he goes, I don't know where the errors are. So what we did then is we used two things. He's been verified, came in, and then it had, like, the relatives. So we started calling the relatives.

But, actually, no. On this one, we actually know what we did. We hired a genealogist. Even the big we knew it was a good deal. So we hired a genealogist to do the family tree.

And what she told us was the mom had passed away. There's a married couple. She passed away, then the gentleman passed away, and the rightful heir would have been his brother who died in Crete in 1973 in a car accident. Then it would went to his two sons. They were the they were the they were the rightful heirs.

Steve: Mhmm. Did they know they're the rightful heirs?

Karl: No. But they didn't they didn't know about it. Because what happened was so we started looking for these two two kids, and we searched everywhere. We one of the things actually we ended up doing first was I went to the grave site, and we started interviewing. There's some local relatives.

And I went and said, hey. Have you seen, let's say his name is Tom? Yeah. I I mean, you I I went and said, you know, Tom's passed away.

Steve: Well, and this is crazy. Right? Like, I don't know anybody that visits gravesites to do deals.

Karl: Oh, yeah. We went there at the gravesites. We had to see who else was next to them. Yeah. We've done crazy stuff.

So we had the gravesite

Steve: gravesites. So you're talking to relatives?

Karl: And then then the relatives, when we visit the relatives, they're like they're like, Tom's dead? I said, yeah. He passed away, like, four or five months ago. Like, oh, we didn't know. So not not a close family.

But they but they gave us lots of information. They said the mom like, when when the brother was passed away in Crete in '73, the mom got remarried to a police officer outside of DC. So we had a little bit of evidence of what's going on. But, we did everything you know, we built this whole big thing. I spent months just researching it, trying to find this.

Even my partner was like, give up, Carl. You can't get this. I'm like, I'm getting this deal. So then I found the niece who was living there, and she had actually had Tom had given her a lease to $20.40 for a dollar a month. K?

Karl: So

Karl: I went and visited her, and she said, yeah. I moved in with these people. They're druggies, and they're tearing the place up. And so she had a lease that technically had to be bought out. Mhmm.

So I paid her, like, a $113 to buy her lease out.

Steve: Mhmm.

Karl: And then so we keep searching for these guys, and we can't find them. We're like, why can we not find these boys? What is wrong? Why what are we doing wrong? Mhmm.

I think one night, I was talking with Maria. She's one of our partners. I think I had eight eight beers or maybe 10 beers. I don't know. And then we the epiphany was, what if the mom got remarried?

And when she got remarried, she changed last names. We're like, oh. Yeah. So then we we ended up the genealogist found the, we knew to look at the DC area. So they ended up finding out the, that, she got remarried in the name, the name change.

Mhmm. So we're able to track her down, and then we went our you can go on people's Facebook pages. We've just been verified and whatever. We know she was talking to the two kids, but the name has been changed.

Steve: Mhmm.

Karl: So now we identified who the rightful heirs after months and months and months of working on it. But we ended up doing at this point is you've gotta set the table. You can't just go, you own this property and da da da da da. Alright.

Steve: Congratulations. It's a big day for you.

Karl: Yeah.

Karl: So we had to say, here's the problems. A, there's squatters living in the place. There's a niece with a lease. Okay? There's code enforcement on

Karl: the

Karl: property. Tom passed away without a will, so it's in test date. There could be some problems there. And there's a tax foreclosure in two weeks. We got just before the tax foreclosure.

I think there's some other problems. So we said we have all these problems, but we're gonna give you $35,000 for the property. And they said, normally, we negotiate. That's what we can do, but this is found money, and it sounds like there's quite a few problems to to to deal with. Mhmm.

I said, yeah. So they sold it to us for 35,000. And then in North Carolina, we didn't wanna open the estate. If you open the estate, liens and judgments can attach. But if someone's been passed away two years, you're good to go.

So we just we bought the property for 35,000. We just cleaned it out, and we waited nine more months, and then we sold it to a builder for $3.10.

Karl: Mhmm.

Karl: But during that, we also had to deal with we had to pay the taxes off. We had to deal with the code enforcement, you know, and then we, you know, luckily, got the lease from the niece. And then, you know, we finished getting the squatters out and just we had we had we had some problems and stuff putting it together.

Steve: Sure.

Karl: So, yeah, that deal was our biggest deal. So we had 35 invested. We paid the bird dog guy, I think, $5, and we paid bonuses to everybody. Mhmm. And I think we had a thousand dollars into cleaning it out.

And we just held it for nine months, and that was $243,000 profit on that deal.

Steve: Yeah. This whole genealogist thing, whatever. I've never heard of this for wholesale.

Karl: Yeah. I mean, it's it's it's it's it's where the money is. Right now, in my opinion, you've got Redfin. You've got all these other companies coming in Mhmm. That are gonna be hard to compete doing normal deals.

I I might be wrong on that, but I think it's gonna be harder and harder with these people paying cash and paying crazy prices. So I think learning learning the niche stuff stuff you know, we got a whole bunch of other lists of niche stuff I can talk about is is where you can make really good money because no one wants to track down 21 heirs. No one wants to put the time in this, but the money is huge. Mhmm. Just huge on these deals.

Steve: So you're the one going through. You're going through the tax records. I'm I'm I'm picturing you in the library with, like, the microfilm.

Karl: It's really simple. All you gotta do is order the order the list, and they send it to you. You can download it. So it's not hard. You know?

So it's it's really simple.

Steve: Yeah. So then you got you got this this this big one right here. It was basically, you know, more than a grand slam. And then you're doing a couple of commercial deals too.

Karl: Yeah. Well, yeah, this one we just got. We we ended up there's another tax delinquent on a commercial building. And Are the

Steve: policies the same in North Carolina, whether it's commercial or residential?

Karl: I do very few commercial. Yeah. But it's the it's the same thing. Mhmm. But we searched the guy.

The guy left town almost ten years ago, and he just left the property. He left one tenant in it, this little commercial space, and he just left. I don't know. And he didn't pay the taxes. So we finally searched them down, got a hold of them, and this one was sort of unique.

What we did was we offered him a buyout just to pay him and buy it, but he didn't wanna do that. So we said, but how about we partner? So we we have a joint venture where he deed it into our the company. We control what we sell it for, and he'll split the profits $50.50 after the taxes. So we have $250 invested.

We own half this building. It's it's worth I don't know what it's worth. Tax value is $3.10. There's, like, 50 or 60,000 in taxes owed, and this is one we just got recently. We have so I don't know what the profit of that.

I don't know how that's gonna turn out, but that's a a that's another creative way to do stuff where, you know, we this is a second deal we've done that where we partnered with the owner. So there's so many cool creative ways that you can work with people.

Steve: So are there other people in your market doing this?

Karl: There's start there's there's other people more because I talk too much about it. There's more and more competition, but people won't dive in as deep as we do. They won't they're not as persistent.

Karl: Mhmm.

Karl: And they won't another thing too is, like, we get stopped a lot of times by something, and we have to take a step back and look at how we're gonna do stuff. So we also pivot. So I I I think that that's what gives us the advantage over most people. They're not willing they want the low hanging fruit. They're not willing to spend nine months working on and off on a deal.

They're not willing to to put the time in to do these deals.

Steve: Well and you kinda mentioned it before we got on on air was that, you know, my my average wholesale fee is, like, 13 k. Right? Yours is 50.

Karl: It's probably about 50. Yeah.

Steve: Yeah. So it's worth it.

Karl: Yeah. But it's a lot it's a lot more work, a lot more time consuming, and a lot of headaches and and figuring stuff out that we Yeah. Don't even know. Like, we're doing partition sales now where we buy parts of property. You know?

And then we we we forced to sell the property or buy people out. So we'll go buy like, we got one now we own three quarters of, you know. We had one we bought half of, and then we did the partition sale. We end up owning all of it now. Right.

You know, there's we just we didn't know what a partition sale was. We just like, well, how do we do this? And our we talked to our attorneys. Let's do this, this, and this. And we're like, okay.

And we just follow step by step. You know?

Steve: So your attorneys guided you a little bit.

Karl: Yeah. We've got we've got three different attorneys that we talked to and the different ones So they're all these

Steve: I mean, like, these these crazy ideas that you guys have. Are these attorneys' guided advice or you're like, there's other people you talk to about this?

Karl: Yeah. We talk see another thing too. We our attorneys, different real estate people, we go to meetups, and some of it's just us brainstorming, strategizing how to be creative on these deals. We spend a lot of time on trying to figure them out.

Steve: So I normally ask how your operation is different than other people, but it sounds like we already kinda nailed that one. I know. So then in order to run an operation like yours so what would someone need to do? Let's say they're in a different market. Right?

North Carolina. So if you're in North Carolina, like, turn off.

Karl: Yeah.

Karl: But if

Steve: you're in a different state with a tax delinquent, if you're a tax deed state, what would you recommend?

Karl: Well, I I would recommend, like, you need to have several things. We have like, we used we have two skip trace people. Mhmm. Two companies got been verified and IDI Core. Mhmm.

And then another thing was you need some good attorneys that will work with you. One of our attorneys has fired us twice.

Steve: And then won't take no.

Karl: Yeah. And then the other one, he he told us he's a three error limit. But you have to have good attorneys.

Steve: Mhmm.

Karl: And then you just gotta go out and research the stuff and sort of do it. I mean, we have a part time paralegal, and then we joint venture. We have people that we joint venture. We show them what to do, and they go out and just bring the deals in and we create them. So I think I think, basically, you know, it's easy to pull the list, but but it's not it's not just tax delinquents.

Tax delinquents is just probably 25%, maybe 30% of what we do. It's also same thing on foreclosures. They have the same problems with Mhmm. Tax, you know, so it's the foreclosures. It's, the vacants, foreclosures, tax delinquents, and then you can make a lot of money just using your property lookup system.

We've done really well on that.

Steve: What do you mean by property lookup system?

Karl: Everybody every big city has, like, ours is the GIS, the county lookup. You I'm sure you have one here.

Steve: Yeah. We we have

Karl: a GIS. Okay. So, basically, this is what we did. There's the light rail

Steve: know what it stands for, guys. I think it's Global Information Systems, but, really, I don't

Karl: know what it stands for.

Karl: It just

Karl: shows you

Steve: stuff. Or geographic information systems.

Karl: But, anyway So we use that, like like, the light rail stop. We're like, okay. The lights rail stop coming here in a year, and it's already under construction. Let's buy close to them. You don't have to be a rocket science.

Okay. The property value is gonna go up. So all I did was click on one property, pulled it up, and it was the owner was mister Mone. Went knocked on the door and asked the tenant because it was a different mailing address. So, like, if it's a different mailing address, then it's most likely a

Karl: rental.

Karl: Mhmm. Got the phone number, called him up and said, hey. I wanna buy your property. He was like, well, I'm 85, getting ready to turn 86. It's about time for me to sell.

So I think we got a little bit lucky. Met with him, and we bought that property for 33,000. Right now, we can sell it for 150. That was like two years ago. And then I clicked on this next piece of property, a vacant lot, pulled it up.

There's two owners. Took the one owner, put it in into been verified, called them, said, hey. I wanna buy your lot. I told him, it's all it's all I'm doing. It's just I wanna buy your lot.

And he goes, I forgot I owned it. I'm like, how do you forget you own property? And he said, well, the reason I forgot I owned it, we had the house. Me and my partner had the house and the lot, and we sold it. They just left us with a lot, and we forgot we owned it.

So I made a deal with him to buy his half because I haven't seen my pryant my my my guy in years, my partner. I've not seen him in years. And so I was at a real estate meeting and just talking to this guy Gary next to me, and I said, okay. I'm trying to find this DeMario guy. DeMario, I can't say his last name, and I can't seem to find this guy anywhere.

I need to close this in next week. He said, who? I I said, DeMario, whatever the name. He says, he's one of my best friends. He lives in Florida.

He picked up the phone, called the guy, and said, DeMario, I got a guy that wants to buy half that property. Now that was lucky. I meant that was lucky. But so we

Steve: telling everyone you're trying to find it.

Karl: You're telling everybody. You put it out, excuse me, the universe. Mhmm. So we bought that for I think we're into that for 10 or 12. We can sell it for $1.15.

We've had that a year and a half. That was just clicking clicking, calling up. Then the next one, we clicked and called up. We bought that one for 70 and, unfortunately, burned down seven days later. And then, we end up getting an insurance check for a 100,000 on it, so we have no money invested in that.

That was but but that piece of that the the lot of loans worth 115 now. Yeah. Because a lot next to it just sold for $1.15. And then here's another cool thing is we clicked on another piece of property, and it was a house and had some extra land to it. See, this is where the look for the niches.

This doesn't happen very much. So what we did is we said, you know what? Can we subdivide out an extra lot? So I went down to the the zoning. I talked to the people at zoning.

I said, can I just draw a line down the middle and subdivide it? Said, yeah. You can you can do that. We end up buying the house for 70. We've had it about a year.

We can sell the house for $1.50 plus and a lot for 80,000 plus. We're keeping all that stuff right there.

Karl: But it

Karl: was it was simple. Buy the light rail, use the GIS system, click on it, call the owners. That's I think anybody can probably do that.

Steve: Anybody could do that.

Karl: But they don't. They're lazy.

Steve: But most people aren't doing that. Yeah. Okay. So, so you we talked about tax tax delinquents Yep. Foreclosures, vacants, property lookup.

Right? So how I mean, you've talked about skip tracing them, cold calling them, and following up with them. Are you doing any other type of advertising, or is it just that?

Karl: It's all us going out finding stuff. Every now and then, we'll get a referral or a bird dog will bring us, but it's all us, like, looking for certain stuff, just looking at the foreclosures, the tax length, the vacants, and going after them. We we spend less than $500 a month to advertise and probably not even that. Yeah. And so it's all us just finding stuff, which I know is different from most people.

Most people are like, you gotta market. You gotta spend thousands and thousands and thousands to market. You know, we we send out maybe 10, at the most, 10 targeted letters a month on deals we're working on handling. At it's the most, probably more like five.

Steve: Wow.

Karl: You know? Yeah. So it's calling and knocking on doors. We knock on a lot of doors and that, you know, in where where the tax delinquent's foreclosures, and that works really well.

Steve: Very interesting. So, we talked about how did you find deals. So then pulling data, what are you using to pull data?

Karl: We basically just, download the tax delinquent from the county. Mhmm. My partner, Mitch, they're at the courthouse. They pull the files from that, and we go after older mortgages.

Steve: Weekly, monthly?

Karl: Weekly. They pull that. We track them. They're really good at they're good at tracking them. I'm I'm not good at that.

Yeah. So they track them. So and then we use CRS data. It's called courthouse retrieval system. If, like, if we're looking after a vacant house, it's listed to see if there's a mortgage against it.

We use ancestry.com, you know, been verified, skip trace things, and and and, find a grave, legacy.com for the bits. And that's probably and Podio to put it in. So that's that's basically

Karl: what we do. Legacy.com for the what? Obituaries. Oh, okay. Yeah.

You pull the obituary. And I've got

Karl: if you walk in my office, I have a whiteboard all the way around. I got writing everywhere. So I'm more visual

Karl: than

Karl: so that so we we do use a lot of the whiteboards to track stuff too. You know? Wow.

Steve: Okay. So then we're talking about skip tracing. You don't really have an acquisition and disposition department then. Right? It sounds like it's pretty lean operation.

Karl: Yeah. It's more like the the people we joint venture with, like, where we train people

Karl: Mhmm.

Karl: Do stuff. Once they get the deal, they're they're responsible for getting all the documents, getting all the way through. Then Mitch will either list on MLS. We have a list of cash buyers, and we just do it that way pretty much. And and then then it that's pretty much the two different ways we we sell the properties.

You know?

Steve: Eric Richard wants to know again, are you buying property with company funds, or are you you double closing? What are you doing?

Karl: Some of it we wholesale. My partner, Mitch, we use IRA. We have private funds. We could always use some more, guys. Hint.

Hint. Hint. And so, so it's usually we have some hard money, some private, and then IRA funds. So it's really cool. A lot of these big hits, my partner's not paying taxes because they're being bought in his Roth IRA.

Mhmm. So that's that's pretty cool too.

Steve: That's very cool. So what markets are you in?

Karl: Just Charlotte. We are joint venture without you know, I'm trying to get better organ I'm not a very good organized person at all, so hiring some people. But we wanna be able to joint venture with people all over the country because we've learned so many little niche things. I could tell you all about, partitions, judgments, zoning loopholes. I could go on 0% interest.

We've we've learned so many different, land assemblage that we wanna be able to joint venture. So we wanna do that a little bit more. Yeah.

Karl: You know?

Karl: So we do wanna expand other markets, but our main market is just, Charlotte, Mecklenburg County is the main place we concentrate in right now.

Steve: Gotcha. So monthly marketing, sounds like you said, was under $500 a month.

Karl: Yeah. It but it but we do I think and I don't track it. I don't know what my overhead is, but it's probably somewhere around because I have a office and and different stuff and website. I I it's probably somewhere between 6 to 8,000 a month just just to break even is my total expenses, and I could be off by a couple thousand.

Steve: I'd And you're doing three to four deals a month?

Karl: Yeah. Three three deals. We're getting we're up to about four deals a month.

Steve: At 50 k on average.

Karl: Probably about 50 k on average.

Karl: So you

Steve: don't really need to do more than one deal a month to do pretty good.

Karl: Yeah. One deal one month will get us by. You know? And then but we're also keeping a fair amount of these properties. I've got a lot of other ones with a 150,000 equity, but we're we're keeping them because they're gonna make more money in the future.

So on the ones we're cashing out, we're probably cashing out on two a month.

Steve: I see. Okay. What would you do if the market shifts?

Karl: What's great is since I lost everything in 2008, we're at very low loan to value. I think our average loan to value on the property we're keeping is probably 30 to 40%.

Steve: Mhmm.

Karl: So I

Karl: think we would be okay, but I would shift to more creative deals, getting people to carry back more subject tos. And right now, there's a lot of people on the sidelines with a ton of money. Just gotta buy a bigger discount and maybe sell and make a little bit less per property. But so I think if if the market changes, we we would just well, we could stay lean, and then we would just find different creative styles to get people to carry paper and do different things. And, again, there are always gonna be people with cash.

I don't care what's going on that are gonna get come back and buy some of these. You're gonna have to sell them at a discount. But I I I live I live, except for drinking and eating out, I live lean. I I rent a house for $500 a month. I have a roommate.

I don't have central air. This house is, like, is, like, original from the fifties. It's not terribly run down. Yeah. So I I don't have a lot of, overhead.

So if things really get bad, you know, I don't have a, you know, 3,000 a month house payment and car pay you know, any of that kind of stuff. So I think we could we would weather it. And then Mitch has deep, deep pockets, so it's a combination of stuff would get us through.

Steve: Lessons you guys learned

Karl: Yeah.

Steve: From the crash. And good. Right? Yep. Okay.

So, Tim Tim McQueen wants to know if you're JVing with Charlotte investors.

Karl: Yeah. Yeah. We'll we'll JV with with people. Like I said, I've got some people I'm bringing in to help help, help us. I've hired people to research and stuff so we can take on more of these deals and and joint venture with people.

Steve: Yeah. I mean, it sounds very administrative heavy.

Karl: It it it is. But it's it's not as bad, you know, because it it sounds worse than it is. It really does. I mean, if if I mean, I dropped out of school after a year and a half. I mean, I I don't think if you have a high school degree and you're you can learn such it's it's not as hard as I make it out the scene.

It really is not.

Steve: Yeah.

Karl: I'd I'd love to say it's rocket science. You can't do this, but it's just a process in learning it and and and working with attorneys and and, you know, like the variances. You know? It's like, all we did was find a variance attorney and say, what do we do? And he told us what to do.

Steve: Right.

Karl: I I I didn't do anything. I mean, I'd love to say expert. Found the expert, and they showed us, and we just walked through the thing. You know? I I didn't do anything.

Steve: So then are you known in your market as the crazy guys?

Karl: Yeah. The guys do the crazy deals. Yes. The crazy So

Karl: you do

Steve: have that niche?

Karl: We have the niche. If it's crazy, if it's difficult, we're gonna we're gonna do it.

Steve: So they call you. It's like, Carl, I got this deal. I don't know what to do with it. Right. Do you

Karl: wanna run with it? Yep. I can tell you, I got a ton of other stories about crazy other things that we do. It's it's like I said, we do everything from we're taking options on property and assembling property. Like, so we did the partition sales.

We're learning about zoning loopholes, also substitution collateral, like one piece of property. We took it over with a bunch of judgments.

Steve: We're

Karl: letting them fall off over time, you know, because after ten years, you can't collect on them. So there's so many cool ways that you could do this business. I love it. Just just the Yeah.

Steve: I mean, you're taking advantage of the fact that someone can't deal with this for the next two years. So you get a steep discount, and then you wait the two years. Yeah. And then you profit from it.

Karl: Yeah. Like, for example, demo liens. The city does demo. Like, they'll on land, they'll demo a house, and there'll be a ten to twelve thousand demo lien. Well, it's only good for ten years and it falls off.

So we have several lots that that two and three more years, the demo lien is gonna fall off. So all you have to do is wait and sit on it. You know? Right. And then, there's one one more story that we one deal we just closed out I'd love to tell you about.

Is that okay? I mean, you tell okay.

Steve: Good. Please do.

Karl: This was another tax delinquent where what happened was, we pulled it up, and it was in a corporation.

Karl: Mhmm.

Karl: The corporation was defunct. Okay? The LLC then so it wasn't good anymore. And then we pulled up the the two past owners. It was a husband and wife.

Okay? And they were divorced. And we do a little bit of research, and then it and so and was getting ready to go to tax sale. So we searched them. We figured we tried to find the husband.

We couldn't find them. So we found the wife, and we said, hey. What's you know, a lot of this is listening. We called her up, and had to bug her. She didn't wanna talk to her.

We talked to her mom, and, her mom, I think, said there's a $750,000 lien against the property. And they just they're ready to walk away from it. So we kept

Karl: she was

Karl: like, they don't want anything to do with it. So we kept begging her, and we finally Maria works for us. She's one of our joint venture people. She's also a life coach, so she's really good with people. So she finally got a meeting.

So we met with her, and we said, hey. We wanna get you some in the house. What's going on? She said, well, there's this lien. If it's a mess, I think I was all she was left to me in the was left to me in the divorce, but, you know, we haven't paid as defunct and all this stuff.

So we just we knew we a big lien, defunct LLC, and a husband and wife got divorced where she got the property left in the the thing. So we went to work. The $750,000 lien did not attach the property because they put in LLC before the lien came down.

Steve: Mhmm.

Karl: So that was good. And then we had to pull her divorce decree. Turned out she had rights to the property in in in in rights to the LLC, which was good. I don't know how that worked out. Mhmm.

And then, we were able to there's some kind of rule. I don't understand our attorney helped us with. It's called winding down a corporation where they can still sign and sign for the corporation. So we had to make sure we get title insurance. They're a little bit dicey.

I was a little bit scared, but we ended up so this is what happened. We solved all the problems, and we said, okay. We gave her $28,000 up front, and then we gave her 18 percent of the profits, a deal she's gonna walk from. Single mom, just I'm done. And we convinced her, look.

She said, okay. I'll take 20,000 28,000 upfront and 18,000 of the profits. We just fixed it up, sold it last week. Our profit's somewhere between $1.90 to $2.10. I haven't finished all the numbers yet.

Mhmm. And we had 87,000 total invested in that deal. And it's I think it's actually 200 to $2.10 is is is the net, but let's just say $1.90. Mhmm. And, on on a deal, it had multiple problems.

We solved them. And what I love about it is she walked away with money. Mhmm. And she's gonna big little bigger bonus check than she realizes. I don't think she realized what we were able to make out of it.

Right. So I can't wait to go hand her that check and, you know, or, like, if her kids are going to school, and she'll be able to help them with the money for that. So that when we when we do deals like that, I I love it. It's just it it it just warms my heart to be able to make a difference, you know, in in a situation like that.

Steve: Only 18% at 200 k. That's gonna be a pretty healthy bonus.

Karl: Yeah. No. That's our ours our take home is around 200 k after paying her 18%.

Steve: Oh, after paying her 18?

Karl: After paying that.

Steve: Oh, awesome. That's that's incredible. So Eric wants to know, and this is a question I asked you earlier, how much does that phone number cost?

Karl: Well, as all good stories start out oh, actually, I went to John Ulmer this years ago. He he's I remember him, but he had he had a a real estate course.

Karl: Mhmm.

Karl: And he said, you got you need to have an easy remember number, a repeating number to do your real estate. So I think this night, I had nine beers, and I called the guy. I just dialed the number, and the guy answered and said, hey. It was individual that owned the phone number. I said, hey.

I wanna buy your phone number. He's like, what? He said, you sound drunk. I said, I am, but that I still wanna buy your phone number. Mhmm.

And he said, okay. I'll sell it to you for, $450. So I went down $450. $450, and he transferred the number for $450.

Steve: Wow.

Karl: Now I know why he sold it to me. Because it's, you know, 70477777, taxis call people call all the time thinking it's taxis. Women at bars give it out for some you know, I don't know why guys dumb guys call asking for Sally. And then also, two people in the employment applications, GEICO calls us all the time. I don't know why.

But so that number rings like crazy. So I stop. It's nonstop. So that's why he sold it because it was such a pain. So now I have a system that's like, when you call it, it says press 1 to buy or sell a house to weed out all those calls.

But a lot of times on Friday and Saturday nights, I would just answer it, you know, because I knew it was cab people calling for cabs and stuff and, but that that's how I now what happened was during the downturn, I got in trouble. I mortgaged the number for $10.

Karl: Mhmm.

Karl: And then I lost it, because I couldn't make the payments during during bad times, but I was able to buy it back for $20.

Steve: Right.

Karl: You know? But so you can you can mortgage phone numbers if you didn't know that.

Steve: I know that now.

Karl: I mean so, yeah, that that that was that was, that was pretty cool.

Steve: Right. We gotta figure out who owns the the 77 number in in my neck of the woods. So what else was there? The what is your what is your passion? What is your why?

What drives you?

Karl: This is gonna get sort of personal. I think as a kid, I always had very low self esteem.

Karl: Mhmm. I

Karl: don't know why my parents were really they were they were good and encouraging, but I think the reason I do this is because if you're this crazy person, people like you or see or whatever, likability factor maybe. And if you make money, people like you. So I think there's some kind of driving force of of wanting to be liked.

Karl: Mhmm.

Karl: I really think that that's more than it is. And I like helping people too. I love when I can make a difference. I'll tell you a quick story. It goes back to, I love solving problems.

This this will make sense when you get through. But a friend of mine, Penny, who had a her two kids lived in Ohio. K? She was struggling. She was my roommate.

And she's like, I really need to get my kids back. I just I can't afford to to to have them down here. I got this minimum wage job, and I was like, how can I solve this problem? How how can I solve this? I was like, you're gonna buy a house.

This is how you're gonna get your kids back. She's like she was cussing at me. I ain't gonna buy a house. I ain't gonna get my kids back. So we I found this one house that had little efficiency apartment.

Okay? Mhmm. And it was it was listed at the time as getting ready to come off listing. So I would let it go off listing. I went to the owners and made them a deal to buy it for less.

And at the time, she had bad not bad credit, but a couple things. So we end up fixing a couple things on her credit. Mhmm. And then we also there's a program where the city will give you 7,500. If you buy in a certain area, they'll give you $7,500 for your down payment.

So, the city gave her $7,500 for a down payment and then she needed $750 and just say it magically appeared from somewhere. So, anyway, she got in this house for $750 and we're able to rent out the one side over there. It was a three bedroom, one bath house. So we ended up getting her kids to move back from Ohio. They took they lived in in the the two rooms.

Penny lived in the one room and I lived in the other room. But but because I was able to contribute money for the rent and the other stuff, she was able to basically live for free and got her kids back. So I like I like when I can come up with stuff that makes a difference in people's eye. I like I I love when I can do that, and I hope Penny's not gonna kill me for telling the story. But Yeah.

But but so why again? I think it's that to be be known, be liked, and, I do like the freedom that money gives you to be able to to travel a little bit and Mhmm. And eat in good restaurants. So that's probably basically it. I'm I'm still trying to come up with my full why I do this, to be honest.

Karl: It's a

Steve: challenge for all of us. So, what's your biggest struggle right now in your business?

Karl: Organization. I'm the worst. This is how I know when to pay my electricity, my water, and my phone. I'm not kidding.

Steve: Collection calls you?

Karl: No. When they get cut off. The other day, I was out there, turned the water on the little little things because they cut my water off. They cut everybody shut the office one day, and the electricity wasn't working. I'm like, why don't you go work someplace else?

I was running around making a call to get the electricity turned back on. You know? So I'd say organization is is is one of my biggest weaknesses. I'm I'm I'm a visionary, and I'm and I'm really focused on deals and real creative in getting them. But when it comes to organization, it's not my strong sense.

Steve: Like you can use an assistant.

Karl: Yeah. Yes. Definitely.

Steve: What is your superpower?

Karl: I think I I connect and I see things. I can look at a deal and look at stuff and see stuff that other people don't see, whether it's subdividing a lot off or reconfiguring it or seeing a creative way to do stuff. Like, I did this the other day where I got someone, you know, gave me, like, a 100 personal note. I was able to sell the property and that note doesn't attach to anything. I only made about 20,000 on the property, but now I can make this thing at 0%.

I mean, I can always I can come up with weird off the wall solutions. I think that's what I'm really good at. I'm good at seeing how to put people together. And, but I think the the the biggest thing is just to to see things that other people don't don't don't see on a deal.

Steve: Yeah. And I think I I I don't know if it's Jim Rohn or whoever said this, but, the amount of money you can make is directly proportional to how hard of the problem you can solve.

Karl: That yeah. That's it. And and these problems, guys, they're not super hard. Once you learn them, it's just learning them. It's not Yeah.

It's not as hard as it may seem.

Steve: Right. Is there any last message you would like to leave the audience with?

Karl: Let me see. Last message. I don't know. Just that I think that people have self limiting beliefs and that everything from thinking they need money to credit or or whatever, I think people can do a whole lot more than a whole lot more and and people are so I hear all the time just these self limiting beliefs. I I don't know how to do this.

Well, we don't know how to do when we started this, we didn't know what to do. We jumped in and learned it. So I think I would tell people to give themselves more credit and stop having yourself don't don't say you can't do it because you can. It's it's all in your mind of being able to put stuff like this together. And that's that's why I would leave people is is is continue to get knowledge, continue to learn, network, and that you can do a whole lot more than you think you can.

The only thing that's holding you back is you. That's the only thing that holds people back.

Steve: Yeah. I think that's huge. And then you were talking about, earlier, you've got some sort of mastermind program you were running?

Karl: Yeah. We just started a mastermind group. It's a $105 a month. Mhmm. We get four Zoom meetings.

It's it's me, typically, although it's not me tonight because I'll be out drinking. But it's it's me, and then I've got friends, some heavy hitters, different people sharing, like, these techniques, other techniques, and some easy ways to make money

Karl: Mhmm.

Karl: In the real estate. So, and then we have a, Facebook group, and it's called Uncle Carl and Friends mastermind group. $105. I mean, come on, guys. You you know, you that's cheap for the the kind of stuff that we show.

And tonight, it's 08:00. It starts we got one at 08:00 tonight, Eastern Standard Time where, Maria and Eric are doing all the skip trade they're teaching people how to skip tracing Mhmm. Exactly how how how we put these deals together. Unfortunately, I think I'm giving away too much stuff, but Yeah. I'm hoping that it'll pay off and and we can make a difference for people.

So

Steve: Absolutely. And then if you if someone wanna get a hold of you, how would they do that?

Karl: Well, you could call 704777771 and leave a message, or I'll give you my direct phone number too. It's (704) 995-5385. (704) 995-5385. It's best to text. Mhmm.

And, also, I'll be here for a couple days. So if anybody's in the area wants to get get together, I'll be out drinking beer down stair down somewhere in Tempe. Yeah. I'd love to, you know, hang out with people. So if you wanna anyone wants to call me in the area, get together, you know, that'd be great.

Steve: And you'll be at the meeting tomorrow night?

Karl: Yeah. Go in the meeting. Yeah.

Steve: Guys tomorrow night, night, 04:30 at Dave and Buster's. Jesse, Burrell, and Ivo Dragunoff are gonna be talking about how dad is king, how it's, fueling their business. But, Carl's gonna be there, and then Willie Coleman's gonna be there. And he's the eight he's the guy that turned 18 last Saturday. He's already done 13 wholesale deals in the last six months.

It's it's bonkers. And you've you've you've got these reasons why you can't be successful. He can't even sign a contract. Yeah. And he's closing deals.

Karl: See, a lot of people that would be self limiting. I I can't sign a contract. I'm not gonna do it, but he found a way. I love it.

Steve: Yeah. He brought his brother to the appointments.

Karl: Yeah. I I think that's great. I I I love when people do do that. You know?

Steve: Yeah. So that's 11:00 tomorrow, guys. Eleven Pacific, 02:00 eastern. And if you guys need help getting ARV for the properties you guys are looking at, if you need closing your deals in the Phoenix area, please reach out to me. We'll be happy to go with you guys to those.

And if you want a copy of our assignment contract, go to realestatedisruptors.com and opt in. My assistant will send you a copy of our assignment contract. And, again, guys, if you like this show, please share this episode right now. A rising tide does lift all boats.

Karl: Hey. One other thing. I got it. I bought you a Uncle Carl t shirt. Guys, check it out.

So you you now can you have you have an official uncle Carl's t shirt.

Steve: This is fantastic. Awesome. Awesome. Alright. Thank you, guys, and thank you.

Karl: Thank you. I appreciate it. Thanks for helping me.