Tang Nguyen and Eric Kane Share How They’re Making $100,000+ on Deals Everybody Else Throws Away

Steve Trang: Hey, everybody. Thank you for joining us for today's special episode of Real Estate Disruptors. Today, we have Tang Nguyen and Eric Hain, the Odd brothers, and they've flown in from Dallas Fort Worth to share how they're turning dead deals into 6 figures. If this is your first time tuning in, I am Steve Trang, broker and owner of Stunning Homes Realty, founder of the Offer Fast Homes app, the only MLS for off market wholesale properties. And I'm on a mission to create 100 millionaires.

So if you wanna join us on that mission, let's connect 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 don't charge a dime for this show. I don't make any money doing this.

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If you can write what you like about the show, that'll be even better. And this is a live show, so please ask your questions for Tang and Eric to answer. You ready? Yeah. Alright.

Who am I who am I firing at first?

Eric Kane: Go for it.

Steve: Alright, Eric. Alright. What got you into real estate?

Eric: Man, what got I wanted to be in real estate for a long time. So it was really, what finally got me into real estate I guess was I kind of convinced my wife eventually. So, I'd want to do real estate. I used to build houses out of high school, worked in lumber companies, things like that. So it's always been something I wanted to get into and just kind of found, you know, found the avenue to take and, got some training and jumped right in.

Steve: So you mentioned you had to convince the wife. Yeah. So you were working a corporate job? You said you're the building that was back in high school building houses. Yeah.

So you're working a corporate job.

Eric: I worked in the oil field for eight and a half years. And then as a supervisor for a heavy equipment company.

Steve: Gotcha. So and you were making really good money. Technically I think everyone that industry makes does really well.

Eric: Yeah. Yeah. We're doing pretty well. Yeah.

Steve: So So then that's is that the reason why it was hard for her to

Eric: I think so. I think it was more just, you know, how she was raised and everything like that. You know, just that security really. And I mean it's security for everybody. Right?

Has a job and Right. It's hard to break away from that to go, you know, jump into real estate where that security is no longer theirs.

Steve: Right.

Eric: In the beginning anyway.

Steve: Well, and I've always said, you know, people have a hard time because everyone's trained. We raise this way, like security, but it's like it's a false sense of security.

Eric: Exactly. That's

Speaker 2: what the handcuffs are tough.

Steve: Yeah. Yeah. And then you said training is what kinda helped you jump into it. What kind of training do you look were you trying to get before you jumped into the industry?

Eric: Well, I guess it wasn't, before I jumped in, but I actually started with a few different trainings. You know, some of the local, you know, come through the city ones, and then a local group as well. And so kind of bought into some of that training, which it was an expense and you know, maybe I'd do it differently now, but kinda. Yeah. I mean, I wouldn't change anything that I did because I don't think if I wouldn't have purchased that training, then I wouldn't be where, you know, we wouldn't have met and I wouldn't be where we are today because we actually met at a RIA where we had purchased the same training.

Steve: So Alright. And then how did you get involved in real estate?

Speaker: Man, life happens. Things happen. And, always wanted to do real estate, but, always thought we had a lot of money, a lot of, capital. But,

Eric: one

Speaker: of those infomercial my wife saw online and it's like, hey. You can do it with $0 and stuff. So I was like, little curious because I had, nowhere else to go. I I just lost a restaurant, sports bar, and I was like, hey. I I gotta take a dive into real estate now.

So went to the seminar that my wife, told me to go to, found out what it really meant. Right? That was, like, the pitch, and then you finally realized, oh, you can't do it without money or little to no money. And then, just did the the sucker thing and paid for the big old platinum package at the national, education group, and, that that's what made me had to do had to succeed. And It

Steve: was like 35 k, 50 k? $47,500. Alright. You remember exactly numbers.

Speaker: Oh, yeah. Exactly.

Steve: Yeah. Did you pay the same one?

Eric: Same company in the very beginning. I only did I think I had started with a $15,000 package, and then the next training that I did, was a $50,000 package.

Speaker: 50. Yeah.

Steve: So 65. So between the two, you're in for over 100.

Eric: Oh, yeah. Easy. Easy. We're we're easily over 150 now just in continued education, I guess you could say.

Steve: Gotcha. Okay. So you guys start around the

Eric: same time? No. You started two years sooner.

Speaker: Yeah. I started 2016. 2015 was when, I I took those classes, and 2016 is when I really got got it going.

Steve: So Okay. So you so you took the education. It was expensive, but you got value out of it. You're able to implement some of the stuff from it.

Speaker: Yes. We do that. You have to take action, big time action to, to make it because it's all theory. Right? Mhmm.

Whole bunch of education is like, okay. Great. You can do all this, but just get out there and do it. Do it market market. And then, things start started happening.

Leads are coming in. It's it's real. So, let's let's keep going at it. So So

Steve: let's talk about some of your struggles when you first started. Like, well, like, you know, you got this course. You got the education. You got the information.

Speaker: Okay. That part then. The struggle was juggling all the hats, like, wearing all the hats because, the first year I was in, I did 30 deals, but I didn't have I gave up everything that you had sacrificed, the family, friends, everything.

Eric: Mhmm.

Speaker: And I was like, how do people do thirty, fifty, a 100 deals when I'm, like, struggling doing 30? And I'm, like, all over the place dealing with title, dealing with sellers, buyers, everything. Right? And so that was my main struggle at the beginning.

Steve: So So then were you, at that time then, aware of other people in your market doing 100 plus deals?

Speaker: I heard of some, but I was just too buried into my own I was like, I'm not worried about them. Right? I just wanna focus on myself and try to get it done. And then that's when we we met. Right.

And,

Steve: Well, I'm just curious because, like, at that time, you know, a few years ago like, there are people doing 100 deals now. Yeah. Right. But that time like

Eric: it was different.

Steve: Well, I guess you're talking about 100 deals a year.

Eric: Yeah.

Steve: Yeah. Okay. Gotcha. Yeah. Yeah.

But the other thing too is it's, you know, very interesting to hear, right? Because you're talking about like you're sacrificing everything. And I follow you on Instagram. And, like, half your pictures is you and your family.

Speaker: Yes. That was so 2016 was the year I sacrificed. And I told my wife, I gotta I'm a go all in on this every Friday. Thursday, Friday night, bandit signs every day. Saturday, get on the phones all weekend.

Come with me. Go on appointment. Do whatever. Right? And then 2017 was the year that, I gave back.

I had to find that balance, so I gave back to my family. That's when I actually met Eric towards the 2017, and, we met at the Ria. Mhmm. He took me out.

Steve: At Ria?

Speaker: It was a

Eric: Big dog.

Speaker: A big dog.

Steve: Oh, yeah.

Speaker: Out in Austin. And they were local, so I joined that group as well. They were local. I joined for the network. That was the main thing, and, glad that I paid for it.

And and I met Eric. He took me out on two lunch dates. And after two lunch dates

Eric: Took me two dates to get him.

Speaker: Yeah. He got me. He proposed. Yeah. And then that's when I was learning, hey.

I I gotta I gotta I gotta see if he's he he was very interested in in, real estate, but he had a full time job. I was like, hey. How about you just take my leads, and I'll coach you through these leads and see if you can take them down while I take a vacation, the second part of 2017. I did that. The whole second, second part of 2017, I took a vacation every month with the family to get back to what, all the times I

Steve: Had to give up.

Speaker: Yeah. I gave up. Gotcha. And so I was coaching him when I was in Turks and Caicos, when I was in New Orleans, when I was in Cali. I was like, hey, man.

It's awesome. He's taking it down while I'm away. And so I'm like, okay. This guy is pretty good. So, coming into 2018, I was like, hey.

I think we we need to, like, put some Yeah.

Eric: Start working together pretty much. So you

Steve: guys partnered up in 2018? Yeah.

Eric: Yeah. '17, '18 is when we really, I guess, made it official.

Steve: Yeah. So

Speaker: Got married on January 22.

Steve: Gotcha. Yeah.

Eric: Remember that? Now we're work wise.

Steve: Great. So, you know, one of the challenges that we have, you know, we bring up on the show every time there's a partnership. Yeah. It's like, how do you guys manage it? Because my official position is partnerships are terrible.

Right? But, again, I'm also a hypocrite because I have a business partner. So, like, how do you guys make a partnership work? Because a lot of people with that partnerships struggle.

Eric: Yeah. Yeah. Honestly, that was that was part of the biggest struggle in the beginning was, not really making it work, just figuring out where our roles were. And so so we didn't take off really in the 2018. We we honestly didn't really start doing a lot until coming into the 2018.

I think November was when we our deal flow kinda got into the, you know, 10 or 15 a month and Mhmm. Kinda stayed more consistent. But, that that was a struggle. Really, it was. And then I think we figured out that I mean, Tang's definitely more on the marketing side.

We kinda read traction towards that time as well, and so we we figured out where to place ourselves.

Steve: Yeah.

Eric: You know what I mean? So so Tang's more that visionary, and I'm more the integrator. So once we kinda figured out those roles and we could kinda step back and say, okay. Well, you know, this is a integrator role, and this is a visionary role, and we were able to separate that. I think that's what really helped us get going.

Steve: Gotcha. And I love traction because I'm a I'm a visionary and people around me hated me. And so given them that voice like here's how to deal with people like me.

Speaker: Yeah. Right?

Steve: And that really helped communication a lot. But what were some of your early early struggles as a as a partnership?

Eric: Man, as a partnership, like, before traction?

Steve: Before traction. Yeah. Because there's some people here at Rec. Like, there are people that are they don't know what to do. They're like, okay.

Well, you'll do.

Speaker: Got it.

Steve: Right. Let's partner up, and we'll do these deals together. Like, let's split the finances. Like, they partner for the wrong reasons. And so I just wanna guys that are listening to have partnerships.

Speaker: So so at first, you would think a partnership was, oh, two guys are doing the same thing that likes to do the same thing or good at at at at relates or or very And a lot of things in common. Yeah. No. I mean, as you can tell, we're a little

Eric: bit We're the Allbrothers.

Speaker: We're the Allbrothers

Eric: for a

Speaker: reason. Yeah. Yeah. It's it's so at first, we we got together. We're both hustling, doing deals.

Right? So that first year, January 2018, we got how many deals, like, the first month?

Eric: I think it was 13.

Speaker: 13 deals. Right? Mhmm. Because we're out there hustling in the same car, going to appointments, just getting deals. So guess how many deals we got February?

Steve: Not a lot.

Speaker: Yeah. No. Zero. Yeah. Because we're busy closing all these deals, turning transaction coordinator, talking to title, finding buyers, sellers.

It was just yeah. So that's what we did, and we're like, okay. This is not working.

Steve: Right?

Speaker: Right? And so,

Eric: I think probably the biggest struggle really in in the beginning was, like you said, the the partnership and the money. I guess figuring out the financing part of it was was a big struggle because we both wanted we knew we wanted to work together. We didn't really know how. So we said, well, let's just keep things going. And, I mean, we did it and we made it, but we we did it completely wrong.

And you can ask our CPA right now because he'll tell you. Oh, okay. But, we're

Speaker: still working on our stuff.

Eric: I still hear about it. Yeah. Trust me. He's like, no, you guys know. Let's let's keep this separate.

We're doing good now. So Yeah.

Speaker: Yeah,

Eric: but, that that was probably the biggest struggle is just really knowing the business side of it.

Steve: Yeah.

Eric: You know, we didn't know to the scale that we were gonna go to. And so had we known that maybe we could have structured the the start up a little bit better, would have made things easier going forward. But, to me that was probably the biggest struggle.

Steve: Gotcha. So Dallas Fort Worth, right? We've had Jamie on the show, we've got, we've had Donovan on the show, RJ is coming next month. How are you separating yourself from all your peers in Dallas?

Eric: I think with our creative deal structure, to be honest

Speaker: with you. Huge. Huge. Our exit strategies are, I mean, it's it's it's crazy. It's it's way different than, all set of guys back back back home.

Yeah. I love them. Shout out to everyone in Dallas. It's just our our sub twos, our raps, or the that's like our our bread and butter.

Steve: So let's talk about that. How explain what all those terms are.

Speaker: Oh, central to. So this is, buying property subject to, the existing mortgage, liens, encumbrances. It's pretty much you're you're just taking the property over, taking the deed, leaving the loan in place, and you just control of the property. That's it. Mainly, this strategy works great for preforeclosures.

Right? It's not the the best, option, but it's their best option, the the sellers. Right? Because it's either you're gonna go foreclosure, bankruptcy, or you go this route where you get everything saved. Right?

Your foreclosure, your credit, everything's saved, and and everybody work it it works out. It's a win win situation, actually, three ways. That's why we like this route because we're able to, get that seller into another property or somewhere else where they can, they can afford. And then I find, what we do is we own our finance. So we find, families that cannot get traditional financing to move in, to the property.

Mhmm. So

Steve: So you guys do subject to? So the person you're buying it from Mhmm. Typically, this pre foreclosure Mhmm. They owe someone. Generally.

Yeah. So how much do they owe generally in your market?

Eric: It's usually between 10 and 20. I mean, you get the crazy outrageous ones. We we hit

Speaker: one Yesterday.

Eric: Hit a record yesterday.

Speaker: Yeah. 141,000 reinstatement.

Steve: Did you guys do that $1.41 reinstatement? No.

Speaker: We're still working on it.

Eric: We're trying to figure out

Speaker: what to do. They're trying to get final numbers. He supposedly said that, he's working with a bank to get, like, a a a reduced, like, payoff

Eric: Mhmm.

Speaker: Somehow. If we can get that reduced payoff, we we can do it. Yeah. I mean, the numbers are there. It's it's the ARVs are pretty high, so I don't the ARVs, like, almost, $3.80.

Steve: Mhmm.

Speaker: So, the remaining balance is $2.50.

Steve: $1.41 IRS with the bank? I'm

Eric: sorry? Yeah.

Steve: With the bank. Yeah. There's no IRS in there.

Speaker: There's no

Eric: That's just bank arrest.

Speaker: That's just bank. Wow. Yeah. He he mentioned he he a loan payment? No.

No. He just he said he lost his job, and he's been, trying to find a job for five years.

Eric: I remember that house, actually. I mean, we started off door knocking. Right? So a lot of the houses that that come up with these high reinstatements, we door knocked them

Speaker: Years ago.

Eric: One or two years ago.

Speaker: Yeah. You know? So it's it's not new stuff. Proposal list. That's crazy.

And

Eric: Yeah. But, generally, 10 to 20,000 is what we can really make work.

Steve: Okay. So the 10 to 20,000, you guys are coming up with that out of your own pocket?

Eric: Kinda depends. Usually, our pockets, sometimes we, have some investors that wanna put in and and make a little bit of money. So it just kinda depends on the deal and and, the specifics, I guess you could say.

Speaker: Yeah. Guys that wanna get into the real real estate game, but don't have, like, a $100, $200 that they have, like, 50 and below. That's why we post up on Instagram. Hey. You can get into this deal just for a little bit, and then we come up with a a structure, a partnership.

Hey.

Eric: Just, you

Speaker: know, like, the the the reinstatement and then some of some cost for repairs. And then, we end up japing on the deal on the cash flow, on the down payment. Yeah.

Steve: Oh, that's smart. Yeah.

Speaker: So Okay. So we're coming in with zero money.

Steve: So someone that doesn't have a lot of money Mhmm. That's looking to invest in real estate as a prime candidate as to be your lender for these deals. Exactly. And they're totally fine being a second position.

Speaker: Second position lien. We explained that. We definitely explained that. Say, hey. I know you don't have the funds to play with the big boys to get a first position lien, but, hey.

This works for us and is available if you want to get some returns better than sitting in the bank.

Steve: Right. Well, everything's better than sitting in the bank.

Eric: Exactly. Exactly. But they get a higher return. So, I mean, it's it makes it worth it to to be in that second position, I guess.

Steve: So what kind of returns are they getting? Like, what do you guys offer on a second lien?

Speaker: It's a it's a JV split, so we split the the cash flow. So it's not really, like, I guess, solid numbers. Yeah. So we'll we'll tell them about the down payment, and we structure. Right?

I I look at all that's what, I love sub twos and wraps because I can see, the numbers from the remaining balance, right, and then see how much, cash flow will be, right, the the interest rate and everything. And then I said, okay. This project would be, like, $500 cash flow. We can split that, or I can I have I look at the deal, and then I structure, and I I I I market it? Right?

Hey. You can get this amount of returns on this deal after I look at each deal.

Steve: Okay. So you guys split the cash flow?

Speaker: Mhmm.

Steve: And then And

Speaker: then the

Steve: equity pay down? Mhmm. Everything. Okay. Yeah.

And then so that's that was one component, sub two. Right? Which is a good tool for preforeclosures.

Speaker: Yes. And you

Steve: got another tool. You were saying reps?

Speaker: Or Yeah. So so the sub two is the acquisition side. It's just you buy at sub two. Right? You can buy cash, hard money.

So we're buying at sub two. So now the extra strategies, you can rent, wrap, you can flip, you can air Airbnb, you can live in it like both of us. We're both living in homesteads.

Eric: Sub twos. Yeah. I bought mine three weeks ago or four weeks ago. Yeah. Actually, yeah.

Speaker: And he's, like, seven doors from my house now.

Eric: Yeah. Yeah.

Steve: He has not two sub twos on the same street.

Eric: Same neighborhood almost.

Speaker: Different subdivision, but couple streets away.

Steve: It's crazy. Funny. Yeah.

Eric: You could probably throw a rock, but it takes us about five minutes to drive. Yeah.

Speaker: Fences, so we're gonna knock down all the fences, and we can make those trails.

Eric: Yeah. But, yeah, it's pretty crazy and that we found them them that close. So

Steve: Gotcha. And then Grant Camp, I forgot. He's also

Speaker: Yeah. Oh, yeah. Shout out shout out to Grant. Yeah. He he got us on that traction book.

Steve: So Yeah. Yeah. So then is there something interesting or or special about Dallas that has more creative financing, or it's just that you guys just happen to do it and you guys just are pushing it harder?

Speaker: I fell in love with that when I first started real estate. Like, I did a couple of wholesales. Right?

Eric: Mhmm.

Speaker: And then, in the group that we're part of, the RIA, I met, general, a gentleman named, Jose Genosa. Shout out. He showed me how to do a subject to rap, and I just, like, that was it. I mean, to get, get paid three times on a house Mhmm. It's like, okay.

I like this one. Right? It was it's more intricate. It's it's more moving pieces, but I'm like, after a few, it's just like, no problem. It's

Steve: like heroin? Yeah.

Eric: I don't know that DFW makes it, like if there's anything special about the market that, I think there's some markets that have, some neighborhoods, you know, that make it a little bit more, relevant, maybe.

Speaker: Price range price range and the end buyer.

Steve: So let's talk about that. Like, what's the kind of price range you're looking at, and what kind of end buyer are you looking at where you say, okay. This solution makes sense in this particular market.

Eric: Gotcha. I mean, so a 150 price range really is is kind of And

Speaker: below. Yeah.

Eric: Yeah. Plus or minus, you know, 20,000 is really the the sweet spot. Actually, all the way down, to a 100,000, really.

Steve: Yeah. But why is a 150 and below a good sweet spot for for the product?

Eric: Mortgage payment where it needs to be for that price range of house. Once you get up over, $200,000 house, that mortgage payment starts climbing. You have to drop your interest rate for what people can spend. Generally, they can figure out a debt situation where they can go and and figure out how to get a loan. You know, below 200,000, even with the higher interest rates, the mortgage payment, is still in a decent price range.

You know, it's under $2 and, usually in the 1,500 range. It still makes it enough to make money, over the underlying lien, but I guess that's why it's that sweet spot. Just kinda depends. Once you get up over 200,000, you have to start dropping the interest rate. It doesn't work for selling note if you ever wanna do that.

So

Steve: Yeah. Is there a targeted interest rate that you guys are looking for on the, on the buy side and on the sell side?

Speaker: Zero. On the buy side? As low as possible. I mean, we Yeah. We try to stay under, like, if we can take over any mortgage that's under, like, 5% spread.

Yeah. Okay. We know we can make almost at least a 5% spread, on on the deal. But, again, it's it's really the rental rates as well. Right?

Because if you're picking a house sub two and for some weird reason you can't owner finance, we can at least rent it out for the a good rental rate. So we try to keep the rental rate and the the total PITI price, payment right, at the same or or yeah. So that's Okay. That's Is

Steve: there targeted PITI for for your area?

Speaker: 1,500 and below is, like, really good. Like, anything above is a little tougher to get, in buyer. Yeah. But, there are in buyers out there. Like, lately, New York and Cali's moving in.

Right?

Steve: Mhmm.

Speaker: So we're getting big, big, down payments from just listing on MLS, owner finance only.

Steve: Oh, yeah? Yeah.

Speaker: So we sold a couple of house half $1,000,000 house owner finance.

Steve: Wow. Okay. So what kind of down payments are you guys normally looking for on a down payment?

Speaker: Minimum 10%. Yeah.

Steve: Minimum 10%. Yeah. Okay. Yeah. Gotcha.

Not more. So, like, fifteen, twenty k?

Speaker: Yeah. Yeah.

Steve: Okay. Yeah. Because around here, we're always looking for, like, at least twenty, thirty k.

Speaker: Yeah. Sweet. Yeah.

Eric: If we could set a 10%, usually, that gets us our money back. Anything that we had in on the front end. And then it's not too much that somebody is not gonna want to come in and put that down.

Steve: Gotcha. How's that money going back to your investor or are you guys keeping that? Like, what is the

Eric: play there? It depends. Sometimes we It's

Speaker: case by case. Yeah.

Steve: Yeah. Gotcha.

Eric: A lot of times it it goes back. Sometimes it's a split. Just kinda depends on what we had into it with the reinstatement. A lot of times if it covers reinstatement and and cost to acquire the property, then it'll just cover that and then the cash flow.

Steve: Yeah. That that

Eric: makes sense. Yeah. Just kind of depends.

Steve: Okay. And then, are there any other creative structures that you guys are using?

Eric: We're actually working with the bank to get a line of credit so we don't have to buy it sub two. We just kind of go out and pick the house and then owner finance from there. So

Speaker: Yeah. But buyers are getting, they're getting more they're getting smarter. They they they're, like, doing more research. They're like, hey. Because they hear so many horror stories, right, about, underlying liens, like, bad investors, right, not paying the underlying lien, and the house comes to foreclosure, and then, you know, things happen.

So that's why we're looking to, just buying straight and then owner financing out so there's no underlying liens and, actually, your your note and your, your note's worth more pretty much.

Steve: Yeah. So but it takes away all the fun and stuff too.

Eric: It does. Yeah.

Speaker: That's what we have when we had no money at the beginning. You know? I mean, that's the best, strategy to learn and and do when you I mean, all these reinstatements are big. Right? When you Yeah.

But now, yeah, but now you we're we're able to, get more private, capital too. Right.

Steve: But now it's showing up on your guys' credit. Do you guys don't care about any of that? Is it business line of credit or is it

Eric: on your It's gonna it's gonna be a business line.

Speaker: It's for the

Steve: personal guarantee? Yeah. So, I mean, that's the part of the fun that's up too is, like, you're kinda undercover.

Eric: Yeah. That's true. Yeah. Yeah.

Steve: So, one thing that, because we met in Dallas. Yes. Right? After a lot of alcohol. Yeah.

And I remember We went with that we went and I remember What what happened?

Speaker: We arranged in the Halabi. Yeah. I had to sit down because it was a long walk.

Steve: That was a long walk. Yeah. That was that's a freaking stadium.

Eric: Yeah. That place was was huge. Yeah.

Speaker: It's just a hotel. Yeah. Yeah.

Steve: So but we we started talking about notes. Mhmm. Right? Yes. And I remember I can't remember exactly what we're talking about, but you're you're you're trying to educate me on notes and how I'm missing out.

You wanna talk about that?

Eric: It's the 6 figure deal.

Speaker: Yeah. 6 figure deal. So notes. Yeah. That that was that's part that's wraps.

Right? Ukraine notes, and, with interest rates, thirty year notes, those pay, I mean, that it just I mean, it's I don't know. It is this is a great strategy. So, real quick, a wholesaler brought us a deal. Right?

Going to foreclosure, didn't know what to do with it. Got under contract and simply hand delivered it to our office. Like, hey. I don't know what to do with this. I can't help her.

There's no spread in this thing, but I just need to stop this foreclosure. And we looked at it, and we're like I mean, if if I can show you the numbers, I think everybody will run away. Everybody.

Eric: For sure.

Speaker: It's already wrapped. This was already wrapped. 10% interest already on no. 10.38 or something like Some some crazy numbers.

Eric: Point one seven if I can't

Speaker: remember right now. Everybody's like, oh, hell no. This is already wrapped. How how are you gonna rewrap this? I was like, well, let me play with the numbers.

So that's what we did. We sat, looked at the numbers, looked at the spread. I was like, I think we can still wrap this thing. So we ended up wrapping the wrap.

Eric: And After we called the original rapper Yeah. And talked to him, and he was good with it.

Speaker: Yeah. Yeah. It just happened to be the second Was

Steve: the original rapper the one that was foreclosing on the lady?

Speaker: Yeah. Okay. Yeah. And this is actually a second one that we worked on. We're like, dang.

Like, we're getting all of his wrap. So, like, hey. We're gonna call you. Hey. This is what we plan on doing on your wrap.

Is it cool? He's like, I don't care as long as you make me make my payments. I was like, alright. Cool. Yeah.

So we did that. We got permission. We said, hey. We're gonna wrap this deal. Luckily, the the underlying lien was 68,000.

Around 68,000. Yeah. So Yeah. We created a note for a 100. So that right there, that spread, and then we kept 10% interest rate.

After everything, we're cash flowing, like, a 150.

Eric: 160 a month.

Speaker: 160 a month.

Eric: It's not a lot, but

Steve: That's sexy. But I'm I'm wait I'm still waiting to get excited.

Speaker: But it took me it took me one week to get the property, clean it out, find a buyer, wrap, and we weren't weren't even there for the

Eric: whole transaction.

Speaker: So that was pretty cool. So we did everything, like, pretty much over the phone. We had a team come out and clean. We had, our agent come out, show the property, get a buyer, and sold. Yeah.

Steve: So how did you guys make money on this?

Eric: We make money monthly.

Speaker: Yeah. Monthly.

Eric: So The part to get excited about is even though, we did zero marketing for this deal other than people knowing, you know, that we can close this up too. Mhmm. So zero marketing. So $0 in it. We got all our money back that it took to reinstate.

The reinstatement was fairly low. It was 4,000. Yeah.

Speaker: The reinstatement was 4,000.

Eric: So When we did a few minor repairs

Speaker: No. We cleaned it. That was just clean up. Cleaned it.

Eric: So it was clean up. So so we even made money on the the $10,000 down payment that we got. And this deal will return, you know, 6 figures to us over the course of a thirty year note.

Steve: Yeah. Yeah.

Speaker: And we have not heard from the buyer.

Eric: They pay on time.

Speaker: They pay on time, sometimes early. I'm like I mean, if we can build a system, a pro like, a system that can keep creating these little cash flow machines and yeah. That that's that's what's making it sexy. We're looking at the big picture because we know what's coming.

Steve: Right.

Speaker: So yeah.

Steve: What's coming?

Speaker: Things are coming.

Eric: The opportunity for more sub twos.

Speaker: Yeah. Pretty much.

Steve: Upcoming possible recession. Yeah. No worries.

Eric: I don't know about it.

Speaker: Market correction, not like a a recession, maybe a correction on everything. But, I mean, we're seeing it right now. So we create a, a foreclosure department.

Steve: Mhmm.

Speaker: That, that entails, like, a a door knocker a door knocking team. So we're, approaching all the preforeclosure, and we we're seeing it. The numbers are creeping up.

Steve: They are creeping up slowly.

Speaker: Exactly. Creeping up. Right? Creeping up. But now we're because in our market, we have neighborhoods that are being built up in, like, six months.

Like right? Mhmm. And then you have those big old signs that says $500 move in special. Like, how are you?

Eric: So they get down payment assistance, and they move in for a thousand bucks

Steve: or $500. USDA.

Speaker: I mean, no.

Eric: Right? I think it's it's still USDA, but, I mean, rule for there is not far from it's still in town.

Steve: Yeah. Yeah.

Speaker: And so we're seeing all these people moving in, buying houses, right, with whatever, like, their tax returns or whatever. Right?

Steve: Mhmm.

Speaker: They're they're true renters still. Right? They they live in a house for, like, six months to a year, find out that, oh, taxes goes up. Oh, yeah. Taxes goes up.

You know? And the the monthly payments increase, and all of a sudden, now they can't afford the house. Mhmm. And these are brand new houses. Like, the like, two, three years built.

Right? And so, we're seeing the whole neighborhood on preforeclosure list, and these are nice houses. Mhmm. And so we're just picking them out. Like, one street, we had two or three houses.

Eric: Like Two houses on one street. One of those neighborhoods.

Speaker: Yeah. And and slowly,

Steve: it's just,

Speaker: they're coming up in preforeclosures. So, we're approaching these houses and just give them our pitch, show what we can do to get them out of the situation. Like, they don't want this house anymore.

Steve: So so

Speaker: we're picking up all these preforeclosure houses for, you know, almost brand new houses for, like, just the reinstatements. So

Steve: Gotcha.

Eric: Yeah. So

Steve: how many of these have you picked up?

Speaker: In a life? In No.

Steve: Like, in, like, in, like, in the neighborhood.

Eric: Just kinda depends on the neighborhoods. But, like, that one, there's two on the same block. But that neighborhood was as you're driving down the road, it's got a huge sign on the back of all the the road, it's got a huge sign on the back of all the fences that says, like, a thousand dollar down. Move in. You know?

So I

Speaker: mean thousand dollars down.

Steve: You're basically buying houses for $4,000. You guys are

Speaker: it kinda depends. 10. Yeah. Usually under 10. Yeah.

And and we see that as as like, the numbers are creeping up. Right? In another year or two. I mean, that's why we're building what we're building in house, like a system that can handle, like like, ten, twenty a month. Like, just, you know, so

Eric: Ultimately, it's a recession proof for the business Right. For us.

Steve: Yeah. So, you know, we titled the show, you know, how to make 6 figures on on deals that are considered dead leads. Mhmm. And we've talked about it. We've explained it.

But do you wanna just address that topic specifically? What you mean by

Eric: that? I mean that last that last one was was pretty much a prime example and I mean just that so a 6 figure deal on on something that nobody else looks at. Right? So something where you may have a $1,015,000 in repairs, maybe less. You know?

Maybe it's just 5,000. Maybe you just gotta go and do paint carpet, but we can pick it up sub two. There might be a $10,000 reinstatement. You know? So you can get into that house for 10 to 20,000 ultimately.

And then again over the life of that loan, thirty years on a on a property with what we're making after we sub two owner finance and wrap it or wrap and owner finance it.

Steve: Mhmm.

Eric: We'll get a 6 figure return over thirty years.

Speaker: Yeah. Over thirty years.

Eric: And you could do it all day.

Steve: Yeah. So for each house, just a 100, 200, 300

Eric: Mhmm.

Steve: Over thirty years.

Speaker: Exactly. Exactly.

Steve: 6 figures. I mean, it doesn't take a lot of those It

Eric: really does. To have

Steve: a very good retirement.

Eric: Yeah. No. Not at all.

Speaker: No. Yeah. Yeah.

Steve: Gotcha. Alright. Let's see what some of these, questions we got out here. I think, we got that tang guy has some nice hair.

Speaker: Thanks. That's

Steve: a great question.

Speaker: You buy more houses. I'm telling you.

Steve: Let's see. What else we got here? What type of spread do you like to see between PITI and market rent? This is from Katran.

Speaker: For market rents? So I mean well, I guess from the underlying lien to what we

Steve: Yeah. Absolutely. Yep. Yeah.

Speaker: We wanna have at least we try to shoot for 300. Right? Yeah. At least 300, dollars spread. I mean, of course, the more the better, but 300 is, like, our we'll we'll we'll rather assign it when the numbers are lower.

Right? Rather assign it to, like, another, investor that wants to be rental or whatnot. So

Steve: My whole day? Mhmm.

Eric: They happen to fall in our lap and they're less than that, we that seems to be a pretty simple deal, then we'll we'll, you know, decide if we wanna do it or not.

Steve: So Right. Gotcha.

Eric: Depends. Depends.

Steve: And then his follow-up question to that was, does the 50% expense rule apply to sub twos as well? 50% expense rule. I'm not sure what the 50% expense rule is.

Eric: I'm not sure either.

Speaker: We don't have that much expenses in these houses.

Eric: And This is I'd say it could if you wanted to, but it all depends on how, you know, you run the numbers, what kind of immediate return you need, and and what you're looking at over the the life of the deal, really.

Steve: Yeah. Are you guys finding buyers, through the MLS? Yes. Okay. So let's walk through that process.

So you take it down to sub two. You get it reinstated. Mhmm. Everything is good. And you guys take it under your guys' LLC?

Mhmm. Yes. So it's under trust. Yep. Correct.

Eric: Because I

Steve: know some people like to put them in trust. Alright.

Eric: Yeah. I mean If you

Steve: have any opinion on that, go ahead and elaborate on it.

Eric: No. I mean, I don't think there's anything wrong with it, by any means. It there it is an extra level of security. It just depends on how comfortable you are with it and and how your business is structured.

Steve: What's the extra layer of security?

Eric: With the trust Mhmm. It's harder to to penetrate. You know, if the bank did want to, call that note due, there there's more protection with it being in the trust and and keeping that from actually being able to happen.

Steve: Gotcha. Alright. So then you guys take it down in your LLC

Eric: Mhmm.

Steve: And then you just have an agent just listed.

Speaker: Yeah. Let's say owner finance.

Steve: Alright. And then on that, you're still paying the full commission Mhmm. To both sides going through title company. Everything else is still the same. Everything's really

Speaker: the same.

Eric: Yeah. So full commission. I mean

Steve: for an investor, their investor rates,

Eric: full investor commission full. Yes. Yeah. So yeah, definitely negotiated. But yeah, we pay commission, pull title, everything for for the end buyer.

You know? So it's it's a legit deal for them.

Steve: How long has it taken you guys to sell? Have you guys listed on MLS out there on creative finance?

Speaker: Depends on the price point. The like, the $100,000 anything on a 100, a 150, I mean, it's a line out the door. It's it's pretty busy.

Eric: Mhmm.

Speaker: Yeah. Anything above that might take, like, a month. Yeah. Yeah. Month, month and a half.

Steve: Gotcha. And, Aaron Schweitzer wants to know how many of

Speaker: these are you taking back? Oh, okay. So far I don't know.

Eric: Maybe, what, 10% of the ones? I mean Yeah.

Speaker: Like, three or four I took back. There's one house that I sold three times

Steve: Mhmm.

Speaker: In, like, two years already. Yeah. So it's crazy. I'd I'd it was, I just took a sub two. Owner financed it out.

I think a 125,000. Got a down payment. Stayed there for a year. Great guy. Paid on time and everything, but, he had some, his in laws, had some, the parents, were sick.

So he's like, hey. I just gotta leave town. My wife already went to Denver. Denver. I gotta be with my family, so I don't know what to do with the house.

Like, I don't have time to sell it. I just need to go. Right? So I was like, okay. We'll just do a a deed in lieu.

I'll just get it back. And then, you know, I gave him, like, 10,000 to walk walk away, and he's like he wouldn't even expect anything. He was like, dude, I just take the house back. So I gave him 10,000 because I knew I went to the house, and he upgraded the kitchen. He did all sorts of updates.

And I'm like, man. You know? And within, like, two weeks, I sold it again for $1.45 wrapped again. Stayed there for another year. The it was a dad and a daughter.

Dad, unfortunately, passed away. And then the daughter's like, hey. I was just staying here to watch my dad. I work on other side of town, so can you just take this house back? I wanna move to the other side of town.

I was like, sure. So took back the house again. A year later well, and then put it back on the market, but this time, I just went ahead and sold it. Yeah. For $1.55.

So every year, I went up on the price, got a down payment, got the cash flow, and then I sold it finally. Yeah. Yeah. So that was that was one of the most, like, craziest, I mean, it's it's one of those dream come true for an investor. Right?

Because that's what you want. Right? Like, not want, but, like, you don't wish that on anybody, but things happen where you get the house back. Mhmm. And then you can restart the loan restart the loan.

So

Eric: As long as you got a good process on it Mhmm. I think a lot of people look at that situation and they get scared of it. But as long as you know what your process is, if that does happen, you know, if somebody's late, you know, get the letter out, making sure that they know that there's action. You know, you're paying attention.

Steve: So you're filing foreclosure notices.

Speaker: Twenty days, letter intents, all that.

Eric: Letter of intent. Everything. Twenty days.

Steve: So in Texas, they move real fast. They move real fast. So what is the foreclosure process in Texas?

Eric: If if somebody doesn't pay us on a sub two, we can we can have the foreclosure going in in under two months.

Steve: Yeah. So Man, it's crazy.

Speaker: Like, oh,

Steve: because out here, it's like three months It's a while. Before they file the notice.

Eric: Oh, yeah.

Steve: And then it's three months before they came foreclose. So that's still fast compared to, like, Florida or Massachusetts.

Eric: Yeah.

Speaker: That's why we're in Texas.

Eric: Yeah. Yeah. Yeah. That's why it works well

Steve: for us. Yeah. Yeah. Okay. So, let's see.

Are you Jason Deli wants to know, are you doing second position liens or is the company funding initial investment?

Eric: What's up, Jason?

Speaker: What's up, Jason?

Eric: So what was the question again?

Steve: Are you guys doing second lien or is the company funding the initial investment?

Eric: The company funds the initial investment. Okay.

Steve: And then sometimes the down payment doesn't cover upfront costs. So if you're finding second lien positions, how long are you or your lenders comfortable being

Eric: cash negative? Oh, if our down payment doesn't cover, we generally don't do the deal on the sub two.

Steve: Like, you won't you won't accept an offer.

Eric: Well, we should be into the deal for that much. If the reinstatement and repairs, can't be covered by a 10% down payment on the sale, we generally don't look at it all the time as a sub two owner finance, maybe a sub two flip if that's a possibility, maybe a buy and hold, something like that. But, if we can't get our cost covered from our deposit on the back end with the owner finance, generally, we won't do that. Yeah.

Steve: Gotcha. And then, earlier before we started the show, you guys had some targets you guys were looking for as far as what percentage are you wholesale, what percentage you flip. Can you talk about that?

Speaker: Yeah. So this quarter, we're at 60% wholesale, 30% flips, and 10% owner finance and, buy and holds.

Eric: Mhmm.

Speaker: So that's where we're at this quarter.

Steve: So this is the marketing you guys are doing, and you guys are sending out your guys, or you guys are doing everything over the phone?

Eric: It's mostly over the phone.

Steve: Because you guys doing your your conversations over the phone.

Speaker: Yeah.

Steve: And based off that, you say, okay. This is a wholesale transaction. Mhmm. We're just gonna buy below market. And then another part, three out of 10, you guys are flipping.

Who's running? Who's managing that?

Eric: We have an in house project manager. So we kind of set everything up in the beginning. We know what our budget is. We go over a quick scope, and, then we meet on a weekly basis after that.

Steve: Okay. So you have one person in charge of all your flips.

Speaker: Mhmm.

Steve: That's awesome. I need one of those. Yeah.

Eric: And It's a very good process.

Speaker: Yeah. Yeah.

Steve: So And then you get one out of 10 you guys are gonna keep

Eric: keep together.

Steve: Mhmm. Mhmm. You guys don't take turns, don't dibs, or you guys just own them. All your LLCs are on title on all of them.

Eric: Yeah. It's it's a whole different company that that ends up buying. But yeah. So we we just keep them in there. It's just a different structure.

As a partnership, it's owned

Steve: Okay.

Eric: Not by our company. So it's owned by well, I mean, we can get into it personally, but it's just a different structure. So the way that the the businesses are set up, it's easier for us to if we wanted to pull one out and and do that route later on, we can always do that.

Steve: Gotcha. And I did have one question. I was looking you guys up as, you know, go to your website, Odd Brothers.

Eric: Mhmm.

Steve: But it sounded like there was a third brother.

Eric: Yeah. Where

Speaker: Was the

Steve: third there was. Past tense.

Eric: Yes.

Steve: Yeah. There was. Okay.

Speaker: So like I said, at the beginning when we, all got together, it was it was three guys. It's just business evolved and just the the roles. Right? We're we're all hustling. We're all doing deals, and it's just you know, we're just spinning our wheels.

Like, we can all do this separately, or let's do it altogether and and really designate the roles. And and so it's just,

Eric: It was business evolution more than anything. Yeah. It just worked out better. Different ways

Speaker: of learning. Strategies, different

Eric: In goals.

Speaker: Ideas, yeah, in angles. But, I mean, we're we're still good. I we literally just text today. Like, we're still still good. Yeah.

Steve: Gotcha. Yeah. Because two partners two people are really difficult enough to handle.

Eric: Yeah. Yeah.

Steve: I mean, a third one. Yeah.

Eric: Three of us.

Speaker: Yeah. So that's truly how we got our names because, he was Hispanic. This guy's white.

Eric: I'm not. Yeah.

Steve: So Yeah. He's not.

Speaker: Yeah. Yeah.

Steve: But yeah.

Eric: So, I mean, it was good. That was, part of our early struggles.

Speaker: Yeah.

Eric: Get going. But like I said, once we kinda figure that out and and then we we got our feet on the ground and got running. So

Steve: Yeah. Gotcha. And, you guys, you know, this is a live show, so don't be afraid to ask questions. So questions. Theresa wants to know, are you buying a trust with LLC being the beneficiary?

I think you guys are buying everything LLCs. Right?

Eric: Correct. Yeah. Yeah. So we set everything up, and, we have holding companies in, Wyoming mostly, but you can go Nevada, Wyoming, Massachusetts, wherever. And then those holding companies on the individual companies that we purchase in.

Steve: Gotcha.

Eric: So just different structures. So that's how we get our layer of protection, as opposed to going through trust.

Steve: Gotcha. And what does your organization look like today?

Speaker: Today, two CEOs, I guess. One CFO, one admin, one transaction coordinator, two senior acquisitions, three junior acquisitions. And now foreclosure department is one foreclosure specialist, one field inspector, and one bandit sign, footer outer. Yeah. Yep.

Steve: So you guys aren't going to houses anymore?

Eric: No. We haven't we haven't been to houses. I mean, we we go when we need to, but, it's been a while since we got to. We'll go do a final walk through.

Speaker: Project manager was

Eric: Yeah. Project manager.

Steve: I mean, everything from what I can tell is you guys go get far. And then We do like pho.

Speaker: Man, when you eat Our our daily struggle these days is finding which pho restaurants to eat at. That that's our daily struggle right now. Yeah.

Steve: Yeah. So You look good. I can't eat I can't eat I can't eat the noodles. Right? I have to get everything without

Speaker: the noodles. Oh, man. So That's sad.

Steve: His body does not do well with carbs.

Eric: So Well, we did get up and run this morning, so we had to do that.

Steve: So we can Where are you guys running?

Eric: Just at the the hotel.

Speaker: At the hotel. Yeah.

Steve: Alright. We're running at 05:30. You wanna meet if you wanna talk to Pace, run at 05:30. 05:30? In the morning.

Okay. After

Eric: alright. I don't know about tonight.

Speaker: I mean, this morning was the only morning that we think we're gonna be up that early. Yeah. I mean

Steve: yeah. We got a lot of You wanna talk about sub twos? Yeah.

Eric: Maybe. How many miles?

Steve: Four miles.

Eric: Four miles. Okay. I'll I'll do it for you.

Speaker: Thank you.

Eric: Don't worry about

Speaker: it. Just FaceTime me, I guess.

Steve: Alright. So you guys have all these all these bodies. They're all in house. Any virtual assistants?

Eric: Three.

Steve: Yes. Three virtual

Eric: assistants. They're handling our, our SMS. We we were doing SMS and RVM returns, but now they're just handling our SMS returns. So we have system where where it's double filtered, I guess, to reach them.

Steve: What does that mean?

Eric: So as our techs go out, they come back in. Both of them are are responding, to those to keep up with them because we we do a good enough volume. It it takes one or two of them to keep up. And then, from there, they actually do the outbound calls. So we get all the information from them, about selling or not all, but a basic amount of information from the the seller, with enough info to call them back.

Mhmm. And if they answer, we get a little bit more information. And at that point, it goes into our CRM. Gotcha. For the VA acquisition team

Speaker: to pick up. So the VA is, filling out a web form issues over to, our team, and then they'll take it from there.

Steve: Yeah. Gotcha. Is SMS your your favorite marketing technique?

Eric: It's one of our best right now.

Steve: Okay.

Eric: It's it's easy and it's simple. So, yeah, I mean, get the data, shoot it out and, I mean, the system, it's taken a lot of tweaking. Tang's worked with the, the VA's to get the, the right stuff, you know, the right replies going back and forth and, and then I just kind of handle making sure everything keeps going out. So I think it's, for, for our return on it, I'd say it's definitely one of our favorite for sure.

Steve: Alright. And what else is working for you guys?

Speaker: Bandit signs. Really? That's how we got started. Honestly, that's that's how I started, and it's it's great in Dallas. I mean, people start.

People hear, oh, you do it? Okay. Cool. They'll get a 100. They'll go put it out, and it doesn't work for them.

Right? Because it's a 100. But stay consistent

Eric: Yeah.

Speaker: And know the honey holes, know how to put out out signs, position. It's it's like it's it's not just throwing out signs.

Steve: It's an art.

Speaker: It's an art. Exactly. Yeah.

Eric: I challenged our sales team this last weekend and

Speaker: Oh, yeah. That was fun.

Eric: I don't know if it's a good or a bad thing, but we won. Yeah. We got more leads than they did. So

Speaker: And we put, a third of the signs out. Guys. Yeah.

Eric: We did.

Speaker: Actually, us two. Yeah. Literally, us two. We went out, like, three in the morning.

Steve: Really? Yeah. I mean, that's that's a great way to lead. So. Temperance wants to know, what's the source do you guys recommend to learning for someone that wants to learn sub two?

Speaker: Honestly, creative cash flow with, Grant Kemp. He has an awesome program that you can sign up and and and

Eric: Absolutely.

Steve: Brian Ereg, we just jumped on. He's another guy. That's why I was asking, like, you know, it seems to be very popular in certain parts of the country.

Eric: Yeah.

Steve: He's one of the reason people I was thinking about. What's up, Brian? Alright. So we gotta, wrap up. So, guys, you guys have any last questions?

You know? Throw them out there. So you guys are in Dallas, Fort Worth

Speaker: Correct.

Steve: Exclusively. You guys aren't going in any other markets?

Eric: Not right now. We wanted to really, make sure that we had our marketing honed in. We knew what worked and didn't work, and then we're gonna start expanding for sure. It's in the plans. We just wanna make sure we're doing it, the correct way.

Smart.

Speaker: And there's so much in our backyard. There's so much in the I know.

Eric: I was

Steve: looking at it. I I thought Phoenix was big. And they were and they were looking at Houston. It's like, wow. Houston's really big.

Eric: And you

Steve: look at Dallas, like, man.

Eric: Dallas is even

Speaker: yeah. Seriously. Crazy. We're we're

Eric: And it's growing so fast too

Steve: Yeah.

Eric: Every day.

Speaker: So Yeah. Well, what we're looking at in the future with the the substitutes and the wraps and and how the market is, I think that has to be local. That has to have some sort of a belly to belly action with the the sellers because you they're literally just leaving their warranty in place. Right? Right.

And so that's what we're building

Steve: now. Trust you.

Speaker: Yeah. So that team that we're building, we're planning on getting at least, like, 10 more acquisitions in that team to just go out by next year. So that's

Steve: our goal. Gotcha. Very cool. So right now as far as marketing, how much are you guys spending on marketing?

Eric: Depends on the month, you know, how much data we have to buy or don't buy. But it's it's probably usually somewhere around 25,000.

Steve: Okay. You know,

Eric: we have no problem spending more. I'd actually like to spend more. So it just, just kind of as, you know, as things flow in, we'll, we'll spend more as we grow. Yeah.

Steve: Our problems, our challenges with SMS is where is there more to spend? Because we've eaten up all of that. Dallas is huge. So if you guys don't have that problem. Yeah.

We actually bought every house in Maricopa County

Eric: Really? In

Steve: the Phoenix Metro Area. Oh, wow. So you can just run out of people to text. Right? You could text a lot of people.

Eric: You just buy it again and start over until they tell you. I mean, they're friends. They're friends.

Speaker: They're friends. They're, you text me three times ago with three different numbers. Same Yeah.

Steve: But Are

Speaker: you ready to sell? People's lives change.

Eric: You know? You might text somebody two months ago and had absolutely no discount.

Steve: So Exactly.

Eric: You never know.

Steve: So visionary integrator, Like, what are some of the key roles that you have or key responsibilities you have? What are some key responsibilities you have?

Speaker: Key responsibilities. Mine's name is marketing. Instagram. I'm shooting so many Instagram. Yeah.

I'm shooting so many ideas. Like, every day, I'm, like, just so our office is in one room. Right? And we're always bouncing ideas. I'm always throwing ideas, and he's always trashing it.

Or I was like, oh, I'll think about that. Yeah. What the hell is he doing? I regulate. Yeah.

He regulated my my ideas. And so that's been awesome because, I mean, when you're visionary, things just pop up. You never know. And you're like and I'll stop everything I'm doing. And he's, like, so focused on building something.

I just screw up his whole day. Yeah. But the idea needs to come out because it's like, if I don't put it out, I'm gonna forget it. Or and there's a quite a few good ideas, you know, sometimes.

Steve: Every once in

Eric: a while. Yeah. Yeah. Yeah. So, I mean, I guess yeah.

Definitely with Tang, it's it's managing the the acquisition team, knowing the deals, structuring those deals, anything on the visionary role, you know, the big ideas, things like that. For me, it's it's kinda more, like we said, you know, managing those big ideas and saying, like, okay. No. Maybe we need to wait here. Let's let's focus on what we have going, get this done, then we can jump into that.

I work with our CFO on the finances. That's kind of a new role, so we're hopefully getting into that where I can step out a little bit less.

Speaker: So now I got two bosses. I have him and the CFO. Every time I throw a, hey. I'm a try this market. And she's like, no.

There's no money

Eric: right now. I'm like, alright. Alright. She's like, you're not allowed to spend anymore.

Speaker: Alright. Alright.

Eric: But it's funny. No. It's it's good, though. It's it's a real good thing.

Steve: So But I love that you call it a regulator because I think that's such a great Yeah. Describe description. Right? Especially as a visionary. It's like, just let me do it.

Yeah. Like, I wanna do this.

Speaker: It's gonna work. I know it. I know

Eric: it. Yeah. It's like, I'm sure it will, but it's gonna take away from these things that we're we're working on now.

Steve: I know. That's what that's that's the response, and it's always true. Yeah. Yeah. Yeah.

Eric: Just the balance. Yeah. That's all it is.

Steve: Alright. So I'm gonna let you guys think about, you know, a quick or something that you guys wanna say. You know, message me, message me while I make a couple of quick announcements. Okay. And then we'll go back to that.

So, guys, I'm finishing the year in New Orleans with Chris Rood in December for two thousand nineteen skillathon. If you guys wanna check that out, it's bitly slash two zero one nine skill. Again, it's bitly two zero one nine skill. That's the Skillathon in New Orleans. And then, Max Menace and I, we're still putting up our workshop.

We've been getting, lots of, inquiries about our workshop where we go over everything in our business. So if you wanna make 2020 your year, visit disruptors.com to see if the workshop will make sense for you. It's disruptors.com. And next week, we've got Kyle Wyldoj, another Phoenix player, talking about his business and how door knocking's worked really well for him. So Oh, don't worry.

Tune in next week. And so last thoughts, start with you.

Speaker: Fell fast, fell often, and fail forward. That's as a visionary, we do that.

Steve: Crash a lot.

Speaker: Yeah. Crash a lot, but, you know, learn a lot and and just do it soon so you can spend the rest of, you know, your years doing more. Yeah.

Steve: Yeah. I have a better life for sure.

Speaker: Yeah. Yeah.

Eric: Well, since you took mine, I'll, no. No. I mean, it's along those lines, really. I mean, for me, you know, just if somebody's looking to get into the business, don't overanalyze. I I mentioned earlier, you know, maybe we should have structured better going into it, but it's not ending us.

You know, it's not I don't mean ending us. I guess it's it's not hurting us moving forward today. I think it helped us in the long run just getting in and getting started. Now we can go back and figure those things out. So I guess what I really wanna say is just if it's something that you wanna get into, then don't overanalyze.

Don't wait. You know? Take some action because once you get started, then, the rest kinda comes.

Steve: Alright. So Nike slogan slogan. Right? Yeah.

Eric: There you go.

Steve: Yeah. Yeah. Alright. So if someone wants to get ahold of you, how do they do that?

Eric: So they can reach me on my new Instagram name. What is it? The Eric Hain.

Speaker: The Eric Hain.

Eric: I changed that for Tang. Yes. Or you can reach me in my email. It's Eric@fweeinvest.com. So that's probably the easiest way.

Email.

Steve: Email is just I don't get emails anymore. What?

Eric: No.

Steve: I mean, someone

Eric: reads it. It's not me. Oh, well.

Steve: Yeah. Like, if you email me, it's a freaking black hole. K.

Speaker: I mean, tango.with. Me. You can find me on Instagram, eating fun, drinking ginger shots. And having And Tito's.

Steve: And and pictures of this beautiful family.

Speaker: Yes. Love you guys. That and, yeah, Facebook. I'm on Facebook too. So

Steve: Thank you.

Speaker: Thank you. You.

Steve: Facebook's w y n n. It's confusing. Y n n. Sorry.

Speaker: Incognito. Alright.

Steve: Thank you, guys.