Max Cash Offers and How We’re Adjusting to the Changing Landscape

Steve Trang: Hey, everybody. Thank you for joining us for today's very special episode of Real Estate Disruptors. Today, we got Max Jimenez, my business partner with Max Cash Offers, and we wanna talk about how we're navigating today's trickier landscape. Yes, sir.

Max Jimenez: Has it gone trickier? This is a tad more challenging.

Steve: So if this is your first time tuning in, I am Steve Trang, founder of the OfferFastHomes app, the only MLS for off market wholesale properties. And I help entrepreneurs create businesses that support their family, lifestyle, and goals through mentorship. I'm on a mission to create 100 millionaires. If you wanna join us on that mission, please send me a message on Instagram at steve dot trang. If you're excited for today's show, please give me a wave.

Give me a thumbs up. And as a friendly reminder, I do not charge a dime for the show. I don't make any money doing this. So here's all I ask. This is this is what it costs for you to listen to this show.

If you get value today, please tell a friend. Either 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. Now this is a very special episode because I've been getting a lot of calls and messages from individuals and some big time players. And they ask me what's going on, what steps it take in these uncertain times.

So just let me be clear, I don't know for sure what's gonna happen. I really don't. I don't think anyone can be as positive or super positive right now, and to say that everything's gonna be great or awful. Right? Predict trying to predict the future perfectly is at best careless and at worst dangerous.

So I can't tell you exactly what a deal looks like right now. I can tell you what we're offering at. Right. But, you know, 50% of ARV today could be retail

Max: Yeah.

Steve: Not too, not too long in the future. So smart money is now hoping for the best and preparing for the worst. So Yeah. We're gonna go over our strategies, what we're gonna do. So Yep.

Max: Well, I think, you know, to go piggyback off what you just said right now is, you know, if there's a lot of information out there right now. Right? You see there's a lot of live, you know, IG lives, a lot of Zoom calls, a lot of webinars, and things like that. So it tends to seem to be overcrowded, and it tends to seem like a lot's coming at everybody, right, at once right now. Right.

And, you know, one of the things that I would suggest as far as being careful is somebody that's saying that they know exactly what's happening, right, and what's gonna happen. That's always a red flag for me because we don't know. Right? I think you're right. We don't know.

There's a lot of uncertainty, but you can navigate through this uncertainty, right, for your business, it's for for it

Speaker 2: to be able to thrive and, you know, for for it be able to succeed. But just make sure that be be cautious of, you know, those people that that are experts and they and they say

Max: they know what's happening and what's gonna happen,

Steve: I think. Exactly. Exactly. So, I wanna talk about a couple different things that we're doing right now, for our team and how and some of our, our our students and our and our training program. Right.

So you wanna elaborate you wanna start off with what what are we doing right now as far as offer range goes?

Max: So right now, we definitely lowered our our, percentage, right,

Speaker: on

Max: our ARV. Here in Phoenix, we used to start analyzing all our deals at 75% ARB. Now that's not a concrete percentage. Right? That's where we would start analyzing our deals.

Now we're going all the way down as far as 65. Five. Some are 70%, but we've dropped that drastically over 10%, even 15%. Right? And it's still just to start analyzing the deals.

In Tucson in Tucson, we went 50% or lower. Like, we're we're we're going very deep in Tucson. And and, we'll get a little bit into how we did that, you know, from and that was something from our buyers that were listening to them, but we'll get a little bit into that.

Speaker: But

Steve: So just to clarify, when we're talking about 75, right, minus Paris Correct. That was our initial offer.

Max: Correct.

Steve: Yeah. But that wasn't necessarily like, if we knew the neighborhood like, what were some of the things that we're looking at if we're willing to feel comfortable raising it?

Max: So if we were feel if we feel comfortable raising it from there, I mean, obviously, we're looking at neighborhood for sure, year of the property. So, basically, is it a newer built home where you could pay a little bit more. Right? And then, also, you know, the repair cost. Is it a was it a is it a full rehab, a gut job?

Is it a lip you know, lipstick, which is paint, carpet? So those are the some of the variables that we were looking at, you know, when we were when we're doing the, you know, adjusting the ARV.

Speaker: Right.

Steve: Because,

Max: you know, Phoenix is a very cookie cookie cutter, a market. Right? You can look in one neighborhood and you're able to tell, okay. If you put more than 30,000, you're screwed here. Right?

If you put less than 20,000, you're screwed here. So that's we're kinda blessed to have that here where it's cookie cutter and you're able to determine Right. You know, your most of your costs.

Steve: So last month, our initial offer was 75% minus the Paris. And then if we knew the if we knew the area could sell, we'd go as high as, like, 82 because that's Phoenix. Yeah. Right. Right.

Today

Max: Today, we are not going higher than 70%.

Steve: Yeah. Yeah. And, really, our we're starting in that 50 to 60% range

Speaker: Yeah.

Steve: And then back enough a little. Right. So what are our guys doing

Max: to buy deeper? So, obviously, the one thing is right now what's happening is there's a lot of uncertainty. Right?

Speaker: Mhmm.

Max: There's a lot of uncertainty in the market. So, you know, guys like you and I, a lot of, you know, entrepreneurs, they understand they understand they don't know everything what's going on and what's gonna happen, but they understand how the market trends and what what goes on. Your typical homeowner, your everyday Joe does that. So, you know, you have to be able to to relate your message to where they they're they're uncertain about their jobs. They're uncertain about what's gonna happen to their income, you know, families and things like that.

So as us us being professional, our guys, what they're doing is that they're bringing up certainty when doing business with us. Right? I think you guys hit this on yesterday on your call with, with, with Jesse, is that we're bringing in that certainty, but realizing and making them understand that because we're bringing them certainty, they have to also work with us as far as price goals. Right? And that's kind of the the the difference of what we're doing more now is is saying, like, look.

You know, you have a lot of investors that are gonna come. They're gonna say they can offer you x, y, and z. And then you talked you hit this yesterday. Right? They got these clauses that lets them out, you know, the last minute, you know, I'm not sure if you've, you know, I'm not sure if that bothers you or, you know, I don't know what you think about that.

Yeah. But, you know, I'm not always gonna be the highest, and I never been the highest to pay, but people still sell to us. Why do you think that is?

Speaker: Yeah.

Max: And we let the homeowner tell us why.

Steve: Right? So I think the key thing is we're selling certainty.

Max: Correct.

Steve: Right? And that's the cost. The certain the price of certainty today Yep. Is 40%.

Max: Correct.

Steve: It used to be 25%. The price of certainty has definitely gone up. And so why is it so important for us? Right? So the reason why it's so important to us to buy it deeper because, you know, you gotta survive.

And on this show, if you guys been following, we've done over a 100 episodes. One of the things we always say is what are you gonna do when the market slows down?

Max: Yeah.

Steve: And fairly consistently, not always, but fairly consistently was we're gonna lower our offers. Yeah. That's today. So we're seeing this right now, you know, with the flippers aren't willing to pay as much because of the the uncertainty Yeah. Today.

So there's a few things that are happening. Yeah. And we don't we don't know for sure the price mark the price is gonna go down now. We we just don't know. Yeah.

But what we do know is that demand's probably gonna drop a little bit. Correct. And so even if prices don't go down, hold time is gonna increase. Yep. So if you're pricing, typically, the average interest rate's around 12% on average.

That's, you know, varies in your market. So if it's three more months, that's three more points, three more percentage. Yep. Right? And then borrowing costs have gone up.

You know, we got an e I got an email from LendingHome yesterday

Speaker: Yeah.

Steve: And it was 90% Right. LTV. Yeah. $500 application fee and then a 100% the rehab. Right.

Yeah. Now it's 80% LTV, a 40 a $4,000 application fee, and a one pay one point origination. Yeah. Wow. So now it's more expensive for the flipper.

So a holding cost went up. Now more expensive to borrow. Yep. They need to have more capital to borrow. Right.

And they want a price and uncertainty.

Max: Yeah. No. Definitely. And I I actually read was reading something today that, can't remember who posted it or was talking about it, but there are some

Speaker: hard money lenders that are actually canceling

Max: some deals that lenders that are actually canceling some deals that are in escrow because they didn't put enough down payment. Mhmm. You know, for the the flippers, they didn't put enough down payment, or they're just going back and saying, like, look. The only way we can do this deal is they're racing up. They need to put more capital or more, you know, skin in the game, basically.

Steve: Right.

Max: I was I was listening to that this morning. And

Steve: perfect world, everyone has that extra 10%

Max: to put down.

Steve: Right? 90% LTV, 80% LTV now. Right. Hey. No big deal.

Yeah. Let me just go to my bank account. Right. But that's not the reality.

Max: It's not. It's not. Especially for those that are doing more than, you know, four flips, five flips a month. You know? That's that's you know?

If you have four in the pipeline or if I have four in escrow and they come back and say, hey. I wanna put you need to put down another 10% or 15%, whatever your lender is telling you, that can rack up pretty quick. Right. Yep. Yep.

Steve: So that's an extra 50% of a house. Correct. So 50% of a house, if we're talking about average acquisition around here, is around 150. Right. That's $75,000 you have to come out of pocket.

So Yeah. Definitely, the flippers are gonna be a little bit, more conservative on their offers. Yep. Go ahead.

Max: What do you think, and I don't know if you were gonna get into this, so maybe I'm getting a little hit. But what do you think we can do to combat that? I know you and I talked about earlier today, right, with our buyers and stuff. You know? We had a little bit of conversation.

Did you wanna go that route to kinda

Steve: By talking to your buyers?

Speaker: Yeah. Yeah.

Steve: I think that's a great point. So Okay. As someone right now, you know, what we're telling talking to our students and suggesting that they go do Yeah.

Speaker: Go and

Steve: talk to their buyers. Why don't you elaborate on that?

Max: Yeah. So internally, I was on a conversation with somebody yesterday about this, you know, got on the phone with them. So what we've been doing, we've been doing this now for the past two weeks. Mhmm. We've been picking up the phone and talking to been doing it.

Well, Ruben's been picking up the phones. Ruben, if you're watching, you're killing it, man. You know, he's been picking up the phone, and he's been calling our more consistent buyers. Right? We're talking about our big buyers.

We're talking about those that have bought consistently, and we're just talking to them, see where their heads are at, see if they're still, you know, in a position, are they shifting, you know, what are they doing exactly. So we're not so much allowing them to tell us how to run our business, but what we wanna do is we wanna tailor, you know, based on what they're going through. Right? Like Yeah. This buyer, you know, a month ago was buying 10 a month.

Now they might be only buying five or four a month. And so if you're still email blasting, if you're still mass text blasting and you're not picking up the phone, I'm gonna tell you right now that those buyers aren't looking at your emails and they're they're not looking at your text messages. Yeah. And so if you pick it's a must that you pick up the phone, talk to your buyers, like, hey. What's going on in your business?

You know, I know that you were buying, you know, some buyers that were buying, you know, at, $2.50 before repairs, maybe I only maybe now are only buying at 200,000, you know, minus repairs. Yeah. Or or even 150. We you don't know that until you pick up the phone. So if you keep sending those emails out, you keep sending those mass texts out, you don't know you're not gonna get to know what shift your buyers are making, and you're not

Steve: gonna be able to sell those deals. Absolutely. And I'm a very big fan of picking up the phone and calling somebody. Yeah. And I think just just talking to your buyers Right.

Right? Understanding what they're going through. We were, on on Brad's sales call earlier today. Yeah. Right.

Right.

Speaker: Right?

Steve: It's, like, just understanding their world. It's like, hey. How are things going? How's business? How's that affecting you?

How's that affecting things at home? Right? Yeah. It's just communicating Right. And empathizing, building rapport.

Same thing that we always do, but more important today because Sorry. Everyone else is texting and and email blasting and not connecting with that buyer.

Max: Yeah. And and, you know, it's a good point. That's how we were able to shift so quick in Tucson with our ARV because we we've already sold, you know, various properties to the same, you know, this, big buyer that's there. Yeah. And he's like, look.

A week ago, I would touch these deals. We had, like, we had three deals deals that we that we send out. Like, hey. We here's what we're working on. Where can you be on this?

Mhmm. Like, he goes a week ago, it was easy. I would have paid your price, but right now, that's not a deal for me. Yeah. You know?

So so we we take that into consideration because we know that they're he's a legitimate buyer or they're a legitimate buyer. Same thing in Phoenix. Right? Mhmm. You know, we have buyers that are doing the same exact thing.

But, again, if you do not if you do not shift to navigate these waters and pick up that phone and talk to your buyers personally, you're not gonna know that.

Steve: Absolutely. Yeah. And I think another thing too in navigating this landscape is we're talking about buying it deeper. I think that's absolutely critical. If you're not buying it deeper, you're gonna be out of business.

Something I said, a few days ago is I think half at least half of the wholesaler is out of business. They just

Max: don't know

Steve: it yet. Correct. And I think that one I'm I'm fortunate. You know, I'm blessed. I get to know a lot of the other investors that are big time players.

And some of the flippers I'm talking about, like, they're bragging because, you know, 90 the fact is, like, around 90% of them are gone. Yeah. Right? And so they're bragging in that for the last three years, they were the, recipient Mhmm. Right, of the it was it was the wholesaler selling it to the flipper.

If you don't like it, too bad. Yeah.

Max: Right. We got another buyer.

Speaker: We got another buyer. We got

Steve: another buyer. Today, it's the flipper. It's like, hey. You're gonna sell it to me, or you're gonna sell it at all.

Max: You're not gonna sell it at all.

Steve: Yeah. Right? So now they can dictate well, look. On this one, you're only gonna make 3,000. Right?

Yeah. It's a completely different relationship today. It is. Dynamic today.

Max: It definitely is. And I think what a comment I made earlier, like, we're not reaching out to them and then running our business based on what their talents, but we're adjusting.

Speaker: Yeah.

Max: So that way, we can go back when we're talking to the homeowners. We have that message already ingrained in our minds. When we're talking to them, if we don't get it at the price that we're we're needing to get it, we're not gonna move these deals. Granted, you might right now, I think we're in a state of flux. Right?

Like a teeter totter. We might miss those deals right now, but with the uncertainty, you know, once the once it shifts, when when the homeowners or the sellers start to realize, like, oh, man, I'm not gonna be able to get that price Yeah. They're gonna come back to you because, obviously, you educated them or you became that trusted adviser kinda like what Brad was saying today. So that's why we reach out to the buyers because they wanna allows us to come back and we look at the deal, and and right away, we know, okay. This is not gonna work.

Steve: Yeah. Yeah. And I think one of the big keys here is, you know, I've I've been not fortunate, but I got to experience the last drop. Right? And what happens is when things begin to decline, and, again, we don't know for sure it will, but let's when things begin to decline, the homeowner is not attached to what's going on today.

No. They're attached to what was going on last month. Correct. And they're just hoping that this thing will blow. Yeah.

And then they'll still get that number. Right? Yeah. So they gotta be in a lot of pain. So just knowing right now when you're going in, you gotta buy it deeper.

And if you can't get it at your price, then don't buy it. Don't contract it because now you're just gonna it because now you're just gonna be wasting your time.

Max: Correct. And theirs too. So Yeah. Yeah. For sure.

Steve: Well, they're gonna waste their time with some other wholesalers.

Max: That's true.

Steve: So let's talk about how what are we doing? What is our team doing to buy deeper today?

Max: So we're again, going back, I and I'm gonna elaborate this, this point a lot. Right? It's a certainty. Right? That's kinda what we're we are, you know, we're talking about, like, look.

Because the the feedback that we're getting for a lot of sellers is, hey. You know, there's, you know, this crazy in the world. Look at everything that's going on. You know? How are you guys still buying?

You know? That's the question that we get a lot. Like, well, how are you guys still in business? So we we acknowledge. Right?

We acknowledge the fear. We acknowledge the pain, but then we tell them, like, look. Look, for us in Arizona, it's business as usual as of right now. We're still buying properties. We're still doing business.

Unfortunately, with the with the uncertain times, you know, you know, we we we wouldn't be able to pay, you know, the price that you're asking or would tell them that, like, what what you're asking is there's no way that we could pay that. But what I can tell you is that offer that we make you is an offer that you can depend on. Mhmm. You know? And I know right now with everything that's uncertain, you know, we're we're trying to provide you certainty.

Right?

Speaker: Right.

Max: You know? Do you want a contract like, Brad said today? Right? Do you want the highest offer, or do you want the offer that's going to you know? Or do you want the certain offer?

Or what is it?

Steve: The You want the money show up in your bank account?

Max: Yeah. I do. You want the money that's gonna show up in your bank account. Right? Yeah.

Not the one that's written on the contract. So Right. Yeah. We're having these hard conversations with the sellers. Yeah.

And sometimes they don't like it, but, honestly, it's better to get it up an open, and we get callbacks like, hey. You're right. You know? And and Yeah. We we get we get them to call us back because of that.

Steve: So let's do some role playing. Right? Like, right now, we're I'm I'm I'm the investor. Right? You're the homeowner.

Yeah. Okay. You've got five other offers. Right. So here's here's what we do.

Here's our conversation. Right. Hey, Max. Given our conversation, it sounds like you got five other offers. I do.

Okay. So doesn't sound like we're gonna be able to buy it. Okay.

Max: You know?

Steve: I I can just tell you right now, we're never we've never been the highest buyer.

Max: Okay.

Steve: We buy a lot of houses, but we've never paid the highest. Right. So if you're if you got five other offers, I think you should probably go with one of theirs because there's no way we can beat that offer.

Max: Okay. Well, how much would you pay?

Steve: I don't even want it. It's not even worth sharing with you. Mhmm. So Where that far apart? I can guarantee you we can't beat any of that offers.

Mhmm. Okay. So you got five other offers. Oh, those five other offers, there's gotta be one right now. Like, if I didn't show up today Right.

Out of those five, there's gotta be one that for sure you would have gone with. Right. Who which one would that have been?

Max: I would say the guy that puts down nonrefundable earnest money. Nonrefundable?

Steve: Yeah. Okay. So let's just pretend you said highest.

Max: Okay. Highest.

Steve: Alright. Okay. So you're gonna go with the highest offer. That makes total sense. If I was in a position, I would go with the highest offer as well.

So why don't you just go ahead and go sign with that one? Okay. Alright. So sounds like this is over. Mhmm.

I should leave.

Max: Yeah. Sounds like it. Yeah.

Steve: Alright. Perfect. So before I go, can I just ask you one question? Sure. So when you ask them, you know, if any weird, like, clauses in there about, you know, either there's a coronavirus or, you know, they can cancel on thirty days, sixty sometimes ninety days, you know.

There's really long inspection periods.

Max: Right.

Steve: When you asked him that question, what did he say?

Max: Well, I didn't ask him that.

Steve: Oh, well, you know what? That's not unusual. Mhmm. When you looked at it, you know, when you go look at it, if that was in there, how would you feel about that?

Max: Well, I would feel very uncertain about it, the deal, because they can cancel.

Steve: Okay. So let's just pretend, you know, you're you're working with this guy. Right. You signed that contract. Your bags are packed.

Right. Truck your bags are packed. Your the truck the boxes are in the truck. Right? You're ready to move.

Right. And this guy calls you and says he has to cancel.

Max: Yeah. That definitely wouldn't be a good feeling. I think I would try to kill somebody.

Steve: And I get that. Right. So knowing that, it sounds like going with the highest offer is no longer what's most important. It's not. Yeah.

Max: I guess after after talking to you and you breaking it down like that, it's

Speaker: Yeah.

Max: Yeah. It's not.

Steve: So it may be more important to you, potentially, I don't know, having an offer that for sure is a 100% ironclad. Yeah. Definitely. For sure.

Max: Yeah. Especially after you broke that down. Yeah. That makes sense.

Steve: Alright. So then maybe we'll we'll continue this conference. So that's basically our conversation

Speaker: Mhmm.

Steve: Right, on how to navigate, how to get a lower price because you're gonna be beating these guys. And look, I don't wanna necessarily throw anybody under the bus, but if you guys have been to any of my, presentations, we're very big fans of the scorched earth policy.

Speaker: Mhmm.

Steve: We're putting land mines under the welcome mat Yep. Under the sofa cushions, and under the kitchen, under the chair of the kitchen table. Right.

Speaker: Right?

Steve: If anyone's coming in after us, they're getting blown up. I'm sorry. Right? And so Yep. That's what we're using because for the last week, we're paying attention, and everyone's inserting what they call their chronophiles

Speaker: Right.

Steve: Which is fine. Right? If most people wanna insert that, that's okay. That's the way they run their business. Yeah.

What I'm gonna do or what we're gonna do is zag where everyone is zigging.

Max: Correct. Yeah.

Steve: So that's what we do. So you guys don't have to do that. That's just what we're doing.

Max: Yeah. Yeah. Yeah. And I think we had this, I actually had this conversation with Mario yesterday about because there's a homeowner who was I think we were, like, 40,000 apart or something like that where we wanna be at, and we did the same thing. So Yeah.

He was supposed to call them back today and and just kinda walk her through that. Right? Like, hey. You know, you're asking price a little more than what we could pay, you know, and I appreciate you, you know, for allowing us to speak with you. But, yeah, sounds like I'm not gonna be your buyer.

Yeah. You know? And what happened, I think, when you start the conversation like that, it creates curiosity. Right? Like, okay.

What's this guy talking about? Right? And you push him, like, you know, what you're doing, like, hey. You might you might as well go with the highest offer, you know, and then they're like, well, what's your offer? Honestly, I'm gonna be ashamed if I tell you I'm not gonna be the highest.

And if you're and if let's say you're not even let's say your offer is gonna be, like, $1.90 and they're, like, $2.40 or $2.30, you can say something like, my offer is not even gonna have a 2 in front of it. Yeah. You know, what should we do? Right. Exactly.

Steve: So I think right now you guys get having those conversations because you need to buy it right. Correct. Right? And you know what? Sometimes this doesn't work.

Yeah. You know, they might go with the other guy, and then they're gonna call you back.

Max: Yeah.

Steve: As a matter of fact, right now, you know, for anyone that's listening and has has ever had a seller, you know, go back to all your leads, had a seller say, I'm gonna go with Opendoor

Speaker: Correct.

Steve: Zillow, Offerpad, Refin, whatever. Call them back right now because those contracts are canceled.

Max: Yeah. Should I tell them what we do when we call them back or no? Yeah. Please. Let's do it.

So here's a here's a tip for you guys. So what we do for people in the past that have told us they're they're already working with somebody Mhmm. Or they're already under contract, so we we make a list of all those people, and then we call them back. And what we call them back for is not necessarily ask them if they sold. Mhmm.

So we take a three sixty of that. As we call them when they pick up the phone, hey, Steve. It's Max. I'm just following through. We had spoken about maybe two weeks ago.

Hey, Steve. I wanted to congratulate or we say probably caught you at a bad time. That'd be the first question. Right? No.

No. No. What's going on, Max? Hey. I just wanted to call you, congratulate you on the sale of the property.

You know, last time we spoke, you say you were working with somebody. I wanted to congratulate you on the sale. Oh, no. It didn't sell. Oh, it didn't.

Tell me more about that.

Steve: Alright.

Max: So then, you know, especially with the iBuyers right now being out, that's a really great opportunity to do that.

Steve: Right. Don't go into, like, I heard opened or canceled on you.

Speaker: Yeah. Yeah. Hey, Steve. I heard I heard Zillow is no longer,

Max: buying your house. Buying your house.

Steve: Yeah. It's like, hey. You know? No. Just wanna wish you congratulations, you know.

Max: Yep. And and, you know, and and somebody that could be watching be like, isn't that assuming? And and, you know, obviously, we know that you can assume, but you can do you have to do it out loud. Right?

Steve: Right.

Max: Yeah. So you're assuming that they sold. They told you three weeks ago that, you know, that they were already done. They were already working with somebody. Mhmm.

They were already, you know, so, in escrow or whatever the case may be. All it does and we've brought deals back to life from that because, you know, they something went wrong or, you know, they fell out of escrow or the buyer backed out, and it's worked really well. So so it's a very good approach. Alright.

Steve: And you hear, like, you were right.

Max: Yeah. You were right. I remember you told me, and it just brings those deals back. And I and, you know, and I would recommend you guys out there that have that you have, leads or you have prospects that have told you that, you know, even within the last thirty days, start calling them all up and, you know, and and and congratulating them for the sale of the property. You'll be surprised.

Steve: Yeah. It's much much easier openings, uncomfortable openings. Yeah. But you're gonna jump right into it.

Max: Yeah. That's it.

Steve: It's not the, hey. How are you doing? Nope. Blah blah blah.

Max: None of

Steve: that nonsense.

Max: Yeah. Exactly.

Steve: So, Dave Day wants to know, you know, if we don't wholesale it, but we know but you know it's a deal, do you close on it?

Max: Yeah. We do. Mhmm.

Steve: Yeah. So that's one of the things that we do. You know, we we we'll put nonrefundable earnest. Now look. Can we close on every single one?

No. If we if we contract it at 60% and we can't and and and we couldn't wholesale it, we're probably gonna close on it. Right? We've never just outright bailed an earnest money. We haven't done that yet.

No. Is it a possibility? Yeah. It's a possibility. You know?

But we're gonna give them the earnest money because we do 3,000, 5,000, 10,000. That was the check we posted yesterday. Yeah. Yeah. You know, giving a seller 10,000 nonrefundable earnest into their name.

It wasn't even to title. It wasn't

Max: even to title. It was directly to them.

Steve: We give a homeowner 10,000 nonrefundable earnest because we're serious. When we tell them the price of certainty, this is the price Right.

Max: Of certainty. Yeah. And I think that goes back to, you know, us con contracting to buy. Right? Like

Speaker: Yeah.

Max: You know, every deal that we contract is we don't contract just to say, hey. I got a contract. You know? Because at the end of the day, we still feel we have a responsibility to the homeowners. And and and it comes down to being skilled.

Right? Mhmm.

Speaker: You

Max: know, working on your sales skills, your negotiation skills, so that way you're able to buy them at a deeper discount, you know, and provide solutions.

Steve: Yep. Appo Hondo style called the Colombo close. So I haven't heard of the Colombo close. It definitely is exactly like Colombo. Yeah.

Yeah. When I was learning these skills back in 2007, we called the doorknob close. Put your hand on the doorknob. Oh, before I leave, I got one last question. Yeah.

Right? Because their their guard is completely down.

Max: Correct.

Steve: Jeffrey Smith wants to know, response rate from marketing, has it stayed the same or has it dropped?

Max: It's actually went up a little bit. We were low two weeks ago. We were, like, around we were hovering around 17%. We're above 20 right now, I think. Yeah.

So it's it's you have to play around with your messages. You know? I think the carriers have gotten really strict. So Smart. Yeah.

Smart per se. Yeah. Their finger you know, they they know if you're sending the same message. Even with even with only five or four or 5,000 messages, like, your your number is not gonna work. Yeah.

Steve: Yeah. So I'm not saying we used to send 11,000 text messages a day, but we used to send a lot, and now it's a lot less. Yeah. Yeah. But, Jeffrey, you know, our response rate has increased from it because and I'm not saying it's because we've gotten any better.

Right. And we're not even increasing our spend. Our response rate has increased because right now everyone's froze. Not everyone. A handful of people, a percentage of our market is frozen.

Correct. And that's the reason why our market has increased. So, in fact, the students that we're talking to, we're telling them, like, you don't even have to two x or even 10 x. Right? Just

Max: No. Just stay consistent.

Steve: Keep doing what you've been doing, and you're gonna have more leads and more deals. Right. Right?

Speaker: Yep.

Steve: So, what other question was it? Was there, in the current market, are cash buyers ramping up to buy more? No. They are not ramping up

Max: to buy more. They're they're They're getting just strategic.

Steve: Yeah.

Max: They're only buying certain deals, I think. You know?

Steve: Yeah. So I think a lot of people are kinda like, let's just see what happens. Let's see what how this plays out, which is an opportunity

Speaker: Correct.

Steve: For us. Yep. Yeah. And then, yeah, like Atima says, you know, or Amida, there's a a lot of people on the sidelines. So, guys, keep asking your questions.

Happy to answer it. Leo wants to know what about our PPC. We don't do PPC. I we raised the white flag in 2018 on PPC. For PPC?

I always manage my own PPC campaign. I'm a big time nerd.

Max: Yeah.

Steve: And when I started, it was $2 and change per click and $12 and change per lead.

Speaker: Yeah.

Steve: I think when you started working with me Yeah. Yeah. I I was at, like, the $25.30

Speaker: per click.

Steve: And by the time we folded up shop on on on that when we when we gave up that that hill Yeah.

Speaker: Right, we were not gonna die on that hill. When we gave

Steve: up that hill

Speaker: Yeah.

Steve: We were $45 a click.

Max: Right.

Steve: And, I think, you know, $400, a lead. It just didn't make sense for us anymore.

Max: Definitely. Yep.

Steve: And and me wants to know what type of properties will be motivate sellers right now. So, yeah, let's talk about that. Okay. Who are we targeting today?

Max: So, that's a really great question. I'm surprised you guys, nobody's hit on this yet. I think just a couple of guys have hit on this a little bit, but nobody's really talking about this. So we what we did is we we pull we looked at all our lists, and then what we did is we we stacked all our lists, whether it's, you know, tax default, all the high criteria list, whatever you wanna call them. And what we did is we pulled every absentee out of state owner out of that.

Yeah. And so what what we did is we shifted to to market directly to them, the absentee out of state out of state owners, because in essence, right now, with everything that's going on, your owner occupant's gonna be a little more tough. Not saying that they don't need to sell at some point, but if you're reaching out to, people that own a property here in in Arizona that don't live in the state, you know, they the the sense of, you know, of, insecurity or the not insecurity, but, uncertainty is a lot higher because now they own two properties. They own a property where they live at, you know, whatever state they're in, and then they own a property here. So their financial situation might have changed.

You know? You don't know if they're gonna keep up with the the both property taxes, both property insurance, both, you know, what else, repair cost, you know, if they need to repair cost.

Steve: Well, especially the the vacant ones. Right? So right now, if they don't know what's going on, correct, and when you don't know, you wanna collect capital Correct. Buy gold, whatever. And so for us, we just took everything we were calling before Mhmm.

And then we fine tuned it even more by stacking it. So we use Batteries to stack our list.

Max: Right.

Steve: So we just took all of the stuff that we had and just add it out of state. And

Max: And what I will say about that is the conversations are a lot better, and, you know, they're they're, they're more quality. They haven't turned into mass deals yet, but I got a feeling that that's what's gonna happen here eventually, because we don't know. Again, we don't know what's gonna happen. We don't know how much it's gonna drop. But I figure as we build rapport with you know, the more we can build rapport, the more that we have conversations, the tide is gonna turn and and a lot of these are gonna turn into deals for

Steve: sure. Yeah.

Max: Because there's still some people holding on to that little bit of hope. Right? Like Right. Because they don't know what's gonna happen either. So but the conversation the the quality of conversations that we've seen has it's just been a $3.60.

I mean, full $3.60 from owner occupant to them to the absentee out of state owners. Yeah. But it's not just absentee out of state owners. Remember, we stack our list completely. So we had about I don't know.

It was a huge list.

Steve: So then Joe wants to know, are we referencing coronavirus at all in our text messages?

Max: No. We don't we don't say coronavirus, but we we definitely, uncertainty, look what's going on. Yeah. You know?

Steve: There's a lot of inferring, a lot of implying in our in our conversations, but we're not outright calling out. That's like you don't call it preforeclosure. Like, I saw you're going for foreclosure.

Max: Correct.

Steve: Yeah. Or call it probate. It's like, I saw you need to sell. Right? So we don't use it directly, but it's in the conversations.

And then Kish Vlogs wants to know how many cold calls per one deal right now. I can tell you, we don't know the exact number, but I can't say for certain, it's absolutely terrible, because we were looking at our our our, KPIs on Monday. And last week, our our VA is at 71,071 thousand dollars. Cold calls.

Max: Yeah.

Steve: So it's not very good. That's all I know. But, you know, as as long as it's getting deals. Yeah. Okay.

So, was there anything else you wanted to add before we talk about, some of the other things that we're doing?

Max: On no. I think we're we're we're pretty good on the conversation as far as what we're talking about, you know, the list and the buyers and all that.

Steve: So Yeah. So I think the sales skills are really important today Yeah. Because you gotta get them off as best you can. Their what they were attached to. Yeah.

Right? The old the old values and maybe it's still the same values, but we don't know what the value is gonna be. Yeah. And actually still attached to it.

Max: Yeah. They are. So I think going back to your comment, your sales skills gotta be on point because what you need to do while you're building rapport with the sellers is you need to put them from that position where they were at two weeks ago, a week ago, and put them future tense. Right? Put bring them into a future tense by sharing a third party story or sharing, you know, a story like, hey.

Listen. You know, you know, we understand that, you know, two weeks ago, these prices made sense. You know? The market is shifting. There's a lot of uncertainty for us.

We wouldn't be able to pay that because we don't know what's gonna happen two weeks, three weeks from now. You know, what I could tell you is the offer that we make today, you know, is going to be, you know, it's gonna be an offer that you can depend on no matter what happens two weeks from now. Right. But remember, we we went from 7575% ARV to 65. So when we're telling them this, we've already dropped 15%.

So we're covering for that future drop. Right? But it's still but but in their mind, they're thinking, okay. Do I get a for sure offer today, or do I wait and that offer drops even more? So you gotta move them from what they were thinking two or three weeks ago, move them to the future where it where there's a drop, they have a for sure offer right now.

Steve: Yeah. And this isn't happening for sure.

Max: Correct.

Speaker: Yeah. If you

Steve: don't if you don't know how to have these conversations. Right. Right. Sure. Which is something, you know, we train a lot all all our students on.

Yep. If you guys are interested in that, you know, send me a message, about that later on. So, let's just talk about the current events. Here's what we know. Okay?

So iBuyers are on hold. Institutional hard money and fix and flip funding has slowed down quite a bit. Like, we we mentioned, lending home earlier. So, you know, iBuyers came in, and now they're all on hold. Yeah.

They're not out of business. Mhmm. But who knows what's gonna happen? For sure. And then all the, lending home came in after to complement the iBuyer model or they saw that, hey.

If if if Wall Street can flip Yeah. Yeah. Then Wall Street can be your private money lender too. But now they're kinda freaking out about that. So Yep.

Yep. There was that. There's the stock market, went went down over 30% in four weeks. Yeah. We recovered a little bit yesterday, so that's good.

Max: Yeah. We're gonna be back in business by Easter.

Steve: Depending on who you believe.

Max: I know.

Steve: Right? And so but that's that's the reality.

Max: So we

Steve: just don't know what's going on with there.

Max: No. Definitely. Definitely.

Steve: And then there's also the fact that we don't even know if you will be able to close. Like, let's just say, hypothetically, you contracted property today.

Max: Mhmm.

Steve: We don't even know if we're gonna be able to close it in seven days. Yeah. Like, we can perform.

Max: Right.

Steve: But we don't know if the state's gonna be open, if

Max: the record

Steve: is gonna be open. Like, there's just kinda some weird There is. Some some craziness right now.

Max: No. There is. And I think, for I don't well, this is a little bit different, I guess, but there is gonna be sellers that might wanna sell. You can always extend escrows. You can always you know, if if somebody is not if somebody wants to sell now, but they wanna wait because to see what to see what happens, you can always, contract it for ninety day close of escrow, sixty day close of escrow just to Yeah.

Steve: There's no reason to stop. Pick it up.

Max: Yeah. There's no reason to stop.

Steve: Right. Yeah. Keep contracting it.

Speaker: Yeah.

Steve: And then so those are the negatives. Right? And I don't wanna get, you know, really negative, but that's what we're seeing. Yeah. On the positive side, the stimulus package looks like it's probably gonna pass.

Looks like, interest rates are cut to zero.

Max: Did it pass or no?

Steve: Well, the the house needs to

Max: be destroyed. Yeah.

Steve: Yeah. So, I'm sure whatever it is, Trump's gonna rip a stamp. But, so we got interest rates cut to zero. In fact, I saw this morning, they're talking about negative, which Jeez. United States has never done Negative.

Negative interest rates. So that's kinda crazy. So we'll see where that goes. But at the end of the day, opportunities are showing themselves right now Yeah. And in every each way.

Because market goes up, market goes down, we'll be ready for it. Yeah. Right? So that's gonna happen no matter what.

Max: Well, you have to be prepared.

Steve: You have to prepare.

Max: Have to say. Like, you can't if you're not prepared or be ready for whatever's coming, you're definitely not gonna be able to navigate and survive. And going back to what you said about Wall Street, you know, a lot of people are taking a big hit. So a lot of people are pulling their money, whatever they have left. Mhmm.

So you gotta get smart. You gotta talk to people. There's still money out there, but now it's being, you know, your private your private money. Right? Yeah.

But unless you know how to talk to those people, it's a very different game, you know, you know, that way you can get lending from them, because they're gonna be liquid on for the most part. There's a lot of liquid people, right now. The thing is they're waiting. And that's that

Steve: was the Instagram live I did with Chris Naugle this

Max: morning. Right?

Steve: Yeah. It was that money's on sale right now. Yeah. Because you just watched all the gains over three and a half years in stock market wiped out. So before when you're offering the guy 5%, guys laughing her face.

You see what's happening in stock market? Get out of here with your 5%. Today, 5% sounds really, really sexy. So money is on sale right now, but you have to know how how to get that money.

Max: Definitely.

Steve: So, you know, I was I was looking at what was the headline that, in three days, we gave back, you know, trillions of dollars that that we had we had earned. The stock market has earned, over that time. So, with all that, you know, money disappearing

Speaker: Mhmm. In

Steve: a stock market, where did it go? Who actually made money Right. As a result of this? You know, we don't we don't know for sure. And then Warren Buffett I was writing this out earlier.

Warren Buffett just bought $45,000,000

Speaker: Jeez.

Steve: In the Delta stock. So, you know, that's interesting. Right?

Max: That is interesting.

Steve: And then Blackstone, they bought tens of thousands of homes during the last down turn. And I was I was very fortunate. I got to you know, I know, a few of the guys that were involved in it. Yeah. Yeah.

Right? So they bought tens of thousands of homes. And I think this is something that if things get kinda hairy, you wanna be prepared Yeah. For the opportunity. Correct.

So we gotta be well positioned for it. So at the end of the day, it doesn't matter. We're just like we're saying earlier, if it's an up market or down market, we gotta position ourselves Yep. To be ready for it. Right?

Right. And so some of the things we're doing is getting better funded. Yeah. So, we wanna make sure our our infrastructure is right. Yeah.

And right now, because of this weirdness, right, we're still doing deals. Mhmm.

Speaker: It's

Steve: not as free flowing Yeah. As it was a few weeks ago. Right? But we're still doing deals. But right now, it's kind of a a downtime.

Mhmm. So it's a great time Yeah. To reach out to people that have money. Yeah. Right?

And they don't know what to do. And reach out to them not with deals, but with, like, hey. Here's what we're doing. Here's how we're getting ourselves ready. Right.

Right? Like and and educating them Yeah. On the market and what you're about to do and then see if that's something that they're interested in.

Max: Yeah. No. That's true. I I agree with that. Like, because, you know, I was reading, actually started reading a book, like, two weeks ago.

It says, Surviving in a Time of Crisis

Speaker: Mhmm.

Max: By doctor Miles Monroe. It's a really good book, and so he talks about exactly what you just said. Right now, it's it's a downtime, but it's not time for, Netflix Netflix and chill. Right? It's time to, you know, app it's time to, you know, develop your leadership skills.

It's time to innovate. It's time to, you know, put your head down and and and get into a rhythm where because these are the times that where, like you say, you're either gonna get crushed or you're gonna come out of it. Right. You know, one of the two because it's so uncertain right now. So you have to maintain some type of level level headedness.

Right? Not to get too much to the panic and not to get too ahead of yourself. You have and it's a fine line to walk, you know. Yeah. It definitely is.

I struggle with it, but I try to keep myself busy. I mean, obviously, you do as well, with with books and learning and reading. Right now is not the time to put your hand in the sand sand and

Steve: Oh, you can't put your

Speaker: head in

Steve: the sand. You gotta you gotta be like, you know, like a the way I like to picture it is like a receiver catching a ball in the middle of the field. Yeah. You gotta have your head swivel. You don't know where

Speaker: you're gonna get hit. You don't know where you're gonna

Steve: get hit, but you have to have you have to be constantly surveying the landscape so that you know where the hit's coming from.

Speaker: And if

Steve: you're not surveying the landscape

Speaker: Right. You're

Steve: gonna get blindsided. Yeah. And that sucks.

Max: Yep. Yep.

Steve: So what we're doing, we wanna make sure all all our associates, people that work with us, people that trust with us, that trust us, people that are at our brokerage, that we have resources in place for them to, you know, make sure that they're able to come out of this, on a better footing than they are today.

Max: Yep.

Steve: So right now, you know, like we said, talk to your funders. Everyone is buy either buying your deals Right. Or funding your deals. Have a conversation. Have a real conversation.

Don't gloss over it. These these are the unkind difficult, uncomfortable conversations.

Max: Nope. You're gonna have to come to a a come to Jesus conversation. Right.

Steve: And so so what are what are the things that have gotten more expensive? Right? So if you look at a lot of the hard money lenders, they're still in business. Mhmm. Right?

Like

Speaker: Yeah.

Steve: At least in in the Phoenix market. And I've heard in Pennsylvania my buddies in Pennsylvania, they pulled out completely.

Max: Oh, okay.

Steve: And the Phoenix market, they're still pretty good. They're still around. Right? But some of them are backed out, and you don't know which one that's gonna be Yeah. That you're using.

So one of the one of the things that happens with hard money, right, you got, points and fees Mhmm. Higher interest rates, debt overhead. There's a limit to how long you can borrow. And if if you hit past that limit, whether it's six months or a year, if you get past that point, you get to pay another origination fee, another processing fee. And it's credit credit score driven.

So if you have a good private money lender so we had one. Mhmm. She's not here anymore.

Max: Yeah. But we had one.

Steve: I know. Right? So we had it was no points, no payments, and no down payment.

Max: Yeah.

Steve: And she funded the rehab. Right?

Max: Sweet is that. And when I

Steve: ever needed the money, it was just a few days before close. Like, hey. Is that money? Like, I'm buying this house. Is that is that still good?

And that's how good relationship I have with private money later. But that's worked for us. Yeah. And for us, we just gotta develop more of those.

Max: Yeah.

Steve: Definitely. And everyone that's listening, if they wanna navigate Mhmm. And be prepared, they've got to do the same thing as well.

Max: That makes sense. It's true. Because, again, like, we didn't know that change was coming. Right? We Yeah.

We kinda figured again. This is why we said when we started, like, we don't know where we don't know what's gonna happen. We don't know what's you know, what are the next things. And same thing, you know, that we had a really nice private lender lined up and one day or another. Yeah.

Yeah. It's like, hey. I'm not lending anymore.

Steve: Right. Exactly. And Tommy Myers brings up a good point. Yeah. The virus has been around for not that long.

Let's not act like it's 2008. And, Tommy, you're absolutely right. It hasn't been around that long. So here are the things that I'm seeing and, you know, maybe this is my fault for paying attention too much of what's going on, you know, as far as the news goes. But I think that every day that goes by, I'm a little bit less optimistic.

If you asked me two weeks ago, I said we're gonna bounce back in six to eight weeks and everything's gonna be totally fine. Mhmm. Nothing's gonna change.

Max: Right.

Steve: I'm not as optimistic about that. I think we're looking maybe q three, q four, even possibly q one

Speaker: for

Steve: us to recover in Phoenix. Right. But we have a good market.

Max: Yeah. We do.

Steve: Right? The other parts of the country, not so good. We have a I I was talk I was on a call, Tuesday of last week that Carlos put together, and the guy said he knew 200 people that got laid off.

Max: Wow. Right?

Steve: That's in Ohio. Right.

Speaker: Right?

Steve: Where they've been a lot more aggressive, with the virus. So Yeah. Tommy, you're absolutely right. Let's not overreact. And I'm not saying we need to overreact.

I think we need

Max: to be prepared. Yeah. Yeah. So that's what that's the comment we made earlier. Right?

Like, it's you can't put your hand in the sand. You can't panic too much. You just have to stay in that in that prepare more prepare mode for whatever is coming. I think in in about talking about layouts, my brother, his company just laid laid laid off, like, everybody in the I don't know if it was, like, 50 or 60 people where he was working at two days ago.

Steve: So Yeah. I mean, there's more and more people getting laid off. And the thing is that, you know, regardless of where you stand on the virus, right, it doesn't matter where you stand

Speaker: Yeah.

Steve: Right. What at the end of the day, there's been a human toll

Speaker: Correct.

Steve: On what's occurred. Yep. You know, we don't know what's gonna happen. We being on the brokerage side, I'm hearing about transactions where the buyers can't perform because they got laid off. Yeah.

That's a ripple effect.

Max: That is.

Steve: Right? So there's just things that are happening that has an impact. It's gonna take a while for us to feel. Yeah. Yeah.

And so I think it's really important to be prepared. So, and I had a conversation with another buddy of ours. Right. Big time player in the Phoenix market. And he said that one of his biggest regrets right now, today Mhmm.

Or as of two days ago so I talked to him two days ago. One of his biggest regrets was that he wasn't ready for this.

Speaker: Mhmm.

Steve: Right? Like, he's been crushing it, killing it, doing 20 deals Right. A month. Right? He's been killing it.

But all the time that we've he's been doing really well, he wasn't, creating relationships Oh, right. So that when things turn Yeah. He's that first call. Now there are other, friends of ours who have been ready. Right?

They've been using someone as wealthy, and that's gonna Correct. Jesse on his interview yesterday. Right? He still has his 2 and a half million dollar Correct. Lenders that, you know what?

I trust you guys. Do whatever you guys gotta do. Yep. But, you know, I was talking to Jared about that, and I felt the same way. Mhmm.

It's like, man, like, this this does suck. I wish we had done a better job.

Max: No. Definitely. Is that, what do they call that secret mentor? Right? That's great,

Steve: Well, the the foresight.

Max: Yeah. Yeah.

Steve: Right. And so what's been lucky was we're really fortunate. So Max and I, we positioned ourselves into a good

Speaker: situation

Steve: where, different, different masterminds. And, someone that had reached out to me, someone that I look up to Mhmm. I don't know if he knew that. But he reached out

Max: He told me. Yeah.

Steve: Yeah. Right? But he reached out to me. He's like, look. I see what you're doing out there.

Yeah. You know? And I've only been through one of these. And I felt like I've been saying, like, for the like, you know, for over a decade, I can't wait for the next one. Right.

Which I know sounds really horrible, but that's been my mindset for, since 2008. Yeah. So I asked someone who reached out to me. He's like, I've been through not just 2008. Yeah.

Right. I also made it through 2001. So he reached out to me. He's like, look. You don't need to have that one wealth guy right now.

Yeah. I can show you it's not too late Right. To get the funding. Because just like flippers today Mhmm. And hard money lenders today and the wholesalers are all all kinda anxious Correct.

Yeah. A lot of wealthy individuals Yeah. Just saw their, stock Start wipe out. Yeah. Yep.

Right? So all those gains, now they're kinda like, what's going on as well?

Max: We need something to touch, something

Steve: Something tangible. So now is the time Yeah. To find it. So Correct. Like I said, I just talked to him the last few days.

So during this lockdown, you have a captive audience. That group of people who are kinda anxious and nervous Mhmm. That's the people that we need to talk to right now.

Max: So Yeah. Makes sense.

Steve: I don't know how to do all this yet. He's mentoring me right now. So, if you guys wanna find out, you can go to disruptors.com/privatemoney. I'll post this link here. I don't have all the information today.

I don't. Mhmm.

Max: But

Steve: we're gonna be scheduling a call, and we're gonna talk about it. Right? So he's gonna share, some of the steps for for us to take. And then with that in hand, we're gonna share those, with everyone else.

Max: Yeah. I'm excited about that, man. I think, again, there's opportunity out there. Right? And, you know, it it it's all up to you.

And I I think I did a video, like, two weeks ago or some or last week, I can't remember, about positioning yourself, and and it was a three strat three, pillars. Right? I think it was. So talking about, you know, having a strategy, having, your resources, and then, you know, your network. Those are very three key things that, you know, you need to be able to to dig into for the most part.

Steve: Yeah. Yeah. And thank goodness that we've been able to to have these relationships Yeah. Right, to to play in our favor.

Max: Correct.

Steve: So guys, again, disruptors.com/privatemoney. I I posted it in here. A question Ryan s is asking, what would you suggest for newbies starting this environment? So I I didn't touch on it on this one. I think if, if it were up to me, obviously, starting, you know, fourteen years ago was is is good.

Right? But I would rather start brand new today Right. Than start brand new twelve to eighteen months ago.

Max: Right. No. Definitely. Because

Steve: when the tie when everything's good, right, you can cover up a lot of mistakes. Yeah. Right? So the people that are, started a year and a half ago Mhmm. They've got employees.

Max: Correct.

Steve: They got payroll. They got overhead. Yeah. They don't know what's not working well Right. Because money's just coming in.

Right? The bank balance is growing every month. Everything's great.

Max: Yeah.

Steve: But you don't know where you're hurting. You don't know where the mistakes are. Right. And this could be a really bad time for you. I'm not saying it will be.

Right. But it could be, and it could be potentially fatal.

Max: Right.

Steve: Right? But if you're starting brand new today, man, you don't have any, I wouldn't say you don't have any adversity because you we all have diversity right today. Yeah. But you don't have that additional diversity Yeah. Overhead That's true.

Overcoming bad mistakes, overcoming bad hires, and so on.

Max: Yeah. And and the other thing too, just to add to to add to that, to that answer that you gave, it's a great time to start. You know? There's so many people giving back right now. You guys hit this yesterday.

Like Yeah. It's unbelievable. I mean, left and right, you're looking at everybody, the whole community giving back. The problem is up to you how you wanna take that information and run with it. And, you know, one of the things that I always say is, like, there's there's more people out there that wanna help you than not, right, for the most part.

And so with everything that's that with with all the information that's being put out, with, you know, all the help that's being put out, it's a great time to start. The thing is that it's up to you to how to sharpen your saw and how to take that information and apply it right away.

Steve: Absolutely. You gotta take action. But the other thing I wanna add to is right now, because it's something that, Jesse and I talked about on yesterday's call, which I he and I are on a 180 degrees. I completely disagree. Right.

Because he doesn't think you need to pay for mentorship. Mhmm. Because right now there's a lot of free information out there. And he's completely correct. Right.

Right? Like, one of the reasons why we have the podcast is there's a lot of free information here. And if you take action, you will be successful. Right. Right?

So he's right. You don't need to pay for mentorship. Right? But you wanna get there faster. Yeah.

Speaker: Of course.

Steve: Because the biggest problem is timeliness of information. Right. Right? Like, if you have a question, which video do you go to? No.

That's true. I can't Which minute mark do you click on to get that information?

Max: No. Definitely.

Steve: Definitely. So having someone that that's that resonates with you, lives the life that you wanna live Right. Someone that you wanna emulate, either their business or personal life, ideally both

Max: Yeah.

Steve: Find someone like that. That's someone that you should definitely I mean, we've talked about this. Like, I've given Darren Hardy so much money. Right. And it sounded like this morning that there's another thing coming out, and I can't wait to buy it.

Mhmm. So I I I firmly believe, like, you gotta invest in yourself, if if you want to to come out of this.

Max: No. I agree. I agree. Definitely. I think it's true just because, again, you're saying what you're saying is very true.

Like, there's some things that you don't need coaching for, but that if you wanna get there faster or if you wanna get there down the right path or emulate, like you're saying, that person that you wanna be like, you're gonna have to. Yeah.

Steve: Yeah. Pay for that. Exactly. Exactly. So, guys, I'm gonna wrap up the, the the today's, show.

I wanted to just say that right right now, we really don't know when the next episode is gonna be. You know, unfortunately, you know, our guests fly in. So today, we had a not today. Last Wednesday, our guest for today canceled.

Speaker: Mhmm.

Steve: Right? And so we just don't know what the upcoming schedules looks like. So we have something there, but we don't know when the next episode is gonna be. That's the sad reality. So, guys, you know, because, make sure you go on the Facebook group.

It's the real estate disruptors Facebook group. Pretty active in there in announcing our shows and so on. And again, if you guys want to get prepared financially for this upcoming, you know, situation, who knows what's gonna be. Could be great. Could be awful.

We don't know. Go to disruptors.com/privatemoney. That's one word. And I'll see you guys there. Cool.

Thank you guys for watching. See you guys. That was awesome. Thank you for coming in. Good.

Awesome.

Speaker: Yeah. See, we real estate disruptors. Can't nobody touch us. And yet we about to give you game.