Steve Trang interviews David Olds from EZREI Closings about the industry secret that 60% of investor contracts never close. Olds shares insights on why deals fall through, the importance of weekly seller communication, and emerging trends like installment methods replacing traditional wholesaling assignments due to new state legislation.
Implement weekly touchpoints with sellers to prevent them from backing out due to lack of communication and growing uncertainty about the deal
Focus on one business instead of multiple ventures - dividing attention across three businesses means none get the focus needed to succeed
Prepare for the installment method as states like South Carolina legislate against traditional wholesaling assignments
1:55:06Josh Stech, founder of LendingHome and Sundae, shares how he built a billion-dollar real estate lending company in just five years, scaling to 14% market share. He discusses the venture capital playbook, hiring at scale, maintaining culture with 500+ employees, and his transition to solving the property sourcing problem for investors through Sundae's marketplace model.
1:47:49Tommy Mello, founder of A1 Garage Door Service, shares his journey from massive debt to building a billion-dollar company. He discusses critical business lessons including the importance of systems, hiring for attitude over experience, and how he scaled from a local garage door business to a nationwide operation that sold for $570 million.
Get a free AI-powered review of your sales calls. See exactly where you're losing deals and how to fix it.
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Ask better follow-up questions during acquisitions to avoid deals falling through when repair estimates are drastically underestimated
Consider using professional transaction coordinators rather than hiring in-house staff who lack experience navigating complex investor deals
”“60% of contracts investor contracts in the state of Florida do not ever close. Nobody tells you that.”
”“You cannot do all three. It's you just can't because you're dividing your day into three parts and you're never you don't have enough focus or or devotion to any one of those three children.”
”“If you don't hear from you, now their confidence in you starts going down and down and down.”
”“We specifically go out, and we look for people with problems. Right? So our job as investors is to solve problems.”
18457 words
Steve Trang: And I had a private conversation. Should I shut down real estate or not?
David Olds: Running any business, starting anything, whether you're opening a muffin shop or a real estate business, it takes a lot of work and focus. It is like rolling a boulder up a hill. It takes everything that you've got. Now I'm doing all three, and it was a lot. So we talked about Ken Clothier.
He was he was a coach of mine. We're like, bro, you need you cannot do all three. Mhmm. It's it's you just can't because you're you're dividing your day into three parts and you're never you don't have enough focus or or devotion to any one of those three children. And what's even worse is the people on each of those teams, they're not getting all of my attention, and I wasn't doing the right doing right by them.
And your team is important. It's our responsibility as owners, CEOs, presidents of company, whatever, to make sure that the business is optimized so that all of those people are getting what they deserve. But now, the only thing that people in my office do, they come in and they're there to serve our clients. We're not trying to we're not trying to wholesale. We're not coaching.
You know, we're just making sure your deal's getting closed. Everybody's around the same campfire.
Steve: Everybody, thank you for joining us for today's episode of disruptors. Today, we have David Olds back with EZREI closings, and David did fly in from Chattanooga, Tennessee to talk about the one industry secret that nobody wants to talk about. Guys, I'm gonna mention create a 100 millionaires. Information on the show alone is enough to help you become a millionaire in the next five to seven years. If you take consistent action, you will become one.
And, guys, if you get value out of the show, please hit that subscribe button. That way we can tell YouTube to tell more people. You ready?
David: Love it. Let's go.
Steve: Alright. So I was looking at the notes, and it's been a
David: year. I know. It doesn't feel like it's been that long. But Yeah. Cool.
Steve: So what are what are some of the big fun things you've been doing?
David: Fun. Travel traveling a lot. Yeah. A lot mostly for work. Mhmm.
Yeah. Growing growing our company. He's already closing since then. We've been on a rocket ship ride. Last year, 2023, we four x the company.
Mhmm. And we expect to two x it, maybe just a little bit more this year. So not quite what we were hoping for, but, yeah, it just keeps growing.
Steve: For everyone that's listening, how did you four x your company?
David: Well, went to a lot of events. I got on a lot of podcasts. We just tried to get in front of as many people as we could and show them why they should not be doing paperwork themselves. Mhmm. Right?
Why they should be spending time focusing, on growing their business. Right? And how most investors and wholesalers, how they do that is more time talking to sellers, more time talking to buyers, less time doing administrative tasks.
Steve: It's almost like having a lot of face time directly leads to revenue.
David: Yes. Yeah. And sometimes it pays off immediate. Sometimes it's four months later. Mhmm.
Hey. I saw you at this event. Now I'm ready. Mhmm. But, yeah, I spent a lot of time.
I think I traveled over a hundred days last year, which was a bunch.
Steve: Wow.
David: It was a lot.
Steve: So you were here last year.
David: Yes.
Steve: And then we got to hang out at Family Mastermind
David: Right. Right.
Steve: Last year. What are some other big events that you attend?
David: Oh, let's see. I did, Dean Rogers event out in California.
Steve: Oh, yeah. That was, it was in Fresno. Right? It was
David: in Fresno. Yeah. Which who's ever been to Fresno? It there wasn't a lot there. We were at this casino way far, anyways, outside of town.
Yeah. I've done, you know, local events all over Texas with, you know, investors that do kinda weekend events. My Ken Brights events. Mhmm. You know, Investor Fuel, big one.
Yeah. Clothier's events. Goodness. I don't know. There wasn't Are you in Boardroom?
I was. I was in boardroom for two years. In fact, I went through a CEO coaching. It was amazing. Gotcha.
Very cool. Kent's great. Yeah.
Steve: I'm gonna be heading out there, I think, two weeks.
David: Really? Oh, yeah. He's fantastic. Yeah. I spent two years working really close with him, and he's a big reason why we grew the company to where we did.
Steve: Yeah. Yeah. He, I I got a phone with him. He said, we need a sales trainer in here. Yeah.
You interested?
David: What am I gonna say? No. Kent's a legend. He's great.
Steve: He does big, big things. So traveling the country Yeah. Four x last year and then two x this year.
David: Yeah. It's pretty tough to consistently four x. Like
Steve: Come on. I mean, are are
David: you We want we have big goals. We Aren't
Steve: you an entrepreneur?
David: Yeah. We actually that was the goal. My my my COO and, and the girl that runs our title company, like, listen, dude. We got it. We want it to be sustainable growth.
Mhmm. We don't wanna grow and crash this thing into the wall because the most important thing for us is our clients. Right? We only exist to serve our clients. So if we grow too fast and we're not able to give them the service, the, you know, 11 out of 10 services, I know you love that.
But if we can't give them the service that they need, they'll just go someplace else or just take it back in house doing the transactions.
Steve: So talk about that. Like Yeah. With right now, you know, as a wholesaler Yeah. Obviously, the first option is doing it yourself.
David: Yes. Yep. If if
Steve: you and I were doing our own paperwork.
David: Dude, I'm the worst. Let me tell you this funny story. So, again, I own the biggest transactions company in the country by far, and I am the worst person at it. Like, I started the company because I realized that I'm bad at it. Right?
I know I know exactly who I am. I'm a wholesaler. But, my mom has some property, and, we needed to get them put into her trust. So I'm like, no problem. This is what we do every day, mom.
I got you. Mhmm. Eight months it took me. Because I was just slow at going and getting the paperwork and getting it signed and pulling the trust documents and just getting the death certificate, just all the things from my dad who had passed away. Literally, I could've leaned my head out my door to 18 coordinators and said, would one of you please do it for me?
And it would have been done in a week. Right? We're not good at that. Our personality type you know, our superpowers, entrepreneurs and hustlers, is we love to be out there talking, right, doing deals and doing fun and exciting and high adrenaline things, not doing paperwork. So what happens?
It just gets keeps getting pushed to the side, pushed to
Steve: the side.
David: Yeah. I'll get to it. Same reason, you know, your bookkeeper, your attorney, your accountant all hate us. Right? Because we never wanna do those things.
Steve: Yeah. So I can think of every instance. Trying to think of how many good good outcomes I've had where I was working with somebody, and there was a homey hookup where I was helping them out. Yeah. They're helping me out.
Yeah. Like, yeah, it's cheaper. Mhmm. But, man, it's never faster.
David: No. You don't want cheap. Well, I people call us and, like, well, someone's hoping to do it cheaper for $50. I'm like, you should go take a shot with them.
Steve: Yeah.
David: Like, we are the best for a reason. We're not the most expensive, but we're definitely not the cheapest. Yeah. You know, for us, we wanna give you amazing, literally white glove concierge level service, but I have to pay people in my office to do that and provide that for you. None of homework for free.
But, no, our service is unmatched.
Steve: Yeah. So first option is do it yourself, which please, if you're watching the show, please Yeah. Unless you're doing your very first deal, please tell.
David: Yeah. In the beginning, we all have to do what we have to do. Right? Last time I was on, we talked about my story. I was half of broke when I started.
Like, I had no money. But I had a wife, two boys, and three fat dogs. I had to do whatever I had to do. One of the things that really stunted our growth, right, in becoming a nationwide wholesaling company was I had to do everything myself. Right?
Like, I'm the smartest. Nobody works harder than me. You know? I can't trust anybody. I gotta do it all myself.
And I had to get out of that that mentality. Right? Because there's just a limit of what you can do in a month. Three deals, five deals maybe, but you'll you'll just keep hitting that ceiling. You can't do it.
The example I give people is, you know, should you spend your time underneath your car changing your oil? No. Me? I'd get under there. I'd get stuck like Winnie the Pooh.
Right? I'd just get jammed underneath there trying to trying to no. I should go to Jiffy Lube, and in fifteen minutes, be in and out so I could spend my time doing the things that make me money.
Steve: Yeah. So then the second option is doing it in house.
David: Sure. Yeah. Definitely. That's how we started.
Steve: Yeah. Yeah. So any negative is doing it in house?
David: Well, here again, I'm gonna hire somebody to change oil who's never changed oil. Mhmm. And I'm going to tell them, here's how you change the oil. So if you're not good at it, and most people aren't, you know, as wholesalers, it's
Steve: Not wired that way.
David: We're not wired that way. Right? So it becomes a hope and a prayer of, I hope I hire somebody. I'm a hire a realtor. Or you have this fantasy, and I've had this too.
I'm gonna hire somebody who used to work at a title company. No. Those people are $80.90, $100,000. They're very expensive people. So what you're looking at is putting ads on Indeed or ZipRecruiter or whatever you're going to use.
You're gonna get all those resumes. You're gonna sort through them and spend that time. You're gonna call people in for interviews. People aren't gonna show. Right?
We've all been through that. You're gonna go, you know, interview them. You're gonna choose somebody. You're gonna hire them. You're gonna put them on payroll.
Now you're gonna bring them in and train. Now we're gonna start. Now we're gonna train them Mhmm. Which if you don't understand how to do it, how are you going to train somebody else? And then you're going to manage them.
Right. Right? Or you can call us, and we can do it all for you just tomorrow, and you can have a readily trained team. But the worst thing that happens, Steve, with hiring somebody in house is you bring in Penelope. She's gonna be our transaction coordinator, and she says, yeah.
I sent this contract over to the title company, and they said it has to be, probated. You're like, oh, okay. Mhmm. Just throw this one away and move on to the next one. Because Penelope didn't under really understand the process.
Right? Because it's not a checklist. Yeah.
Steve: It's
David: not this, like, or, you know, even worse than that as a VA. Right? Let's but but but, you know, Penelope doesn't understand to ask the right questions. Oh, okay. Well, what can we do here?
Right? How do we navigate? It's like white water rafting. Right? How do we navigate this and make sure that this contract gets over the finish line?
Steve: I had that experience myself Yeah. Which was like because I'm coaching and teaching her. Mhmm. And it was like, hey. This is what they said.
And it's like, well, did you ask this question? Mhmm. No? Yeah. Why not?
Right? And I think that thing too, we had Austin McCurdy here on the show Yeah. A few months back, and he talked about one of the biggest mistakes Mhmm. Wholesale companies make Yeah. Is hiring from title companies to become the transaction coordinators.
David: Yeah. We we actually do hire title company people. And, you know, 65 or something percent 65% of all the deals in The United States are retail deals. Mhmm. Right?
Again, this kinda goes to why title companies don't like investors. Mhmm. So they're you know, the typical title agent deals with realtors. Right? Oh, a $400,000 house, bought it two years ago, selling it tomorrow.
Easy peasy. Mhmm. What do we do as investors? We bring the crazy.
Speaker 2: Mhmm.
David: Right? We specifically go out, and we look for people with problems. Right? So our job as investors is to solve problems. Let's be very clear about that.
Right? You should be in this to help people. Right? You shouldn't be a psychotic person that wants to screw people over. But when I say we wanna help people, we go out and we look for pain points.
Right? Debt, divorce, taxes, probate, bad tenants, sixty, thirty, sixty, ninety day list, whatever it is. Right? We wanna we wanna sometimes stack those. Right?
Because people have more problems. Mhmm. The more problems that I can solve, the lower I can get that price.
Steve: Exactly.
David: Fantastic. Well, what do we do on the dispo side? Clear title and proration of taxes. Well, sometimes that's like two sides of the Grand Canyon. You know, you've gotta solve all these problems to get over here.
And expecting the title company to do that, why would they don't want to do that for you. They're you own the title company. They're making 3, maybe $4,500. Mhmm. They would much rather deal with the easy stuff instead of cleaning up our problem.
Steve: Oh, yeah. I mean, so there's that. And, also, I don't know what it's like in the rest of the country, but in Arizona Mhmm. All the investor transactions come with a discount. Yeah.
Right? So, like, you don't get full Right. Boat, on on a wholesale fee.
David: Right.
Steve: So, like, for example, on a retail deal Mhmm. You got, let's say, 400 k property. You got a buyer's agent. You got a seller's agent. You got a buyer.
You got a seller. You got a loan officer. Maybe you gotta deal with the insurance guy. Right. Maybe.
Right? That's it.
David: Yeah. It's
Steve: done. So it's a higher price point.
David: Yep.
Steve: Fewer people.
David: Yep.
Steve: And then they get to get the full boat on the insurance.
David: And that cleaner title.
Steve: Cleaner title. Yeah. Yeah. Oh, yeah. Less work.
David: Yeah. Far less work.
Steve: Right? Right? And then you and I are bringing this $220,000 deal. Yeah. Right?
Because it's gonna be submedian.
David: Sure.
Steve: And so 220 versus 400. So already Yeah. There's a haircut. Yeah. And then if we have multiple wholesalers involved
David: Oh, it's the best.
Steve: Right? Now we got multiple people Mhmm. Who are urgently wanting this to close.
David: Blowing up your phone.
Steve: Yeah. Yeah. Calling nonstop. We have sellers who are more distressed and more nervous.
David: Oh, yeah. Right? Yeah. They we we bring the goofballs out. Yeah.
Yeah.
Steve: Actually, I had my team ask me, Steve, why are all our why are all your clients? That's who we attract.
David: I used when I was closing just in Chattanooga, her she's passed away now, but her name was Patty Martin. But she would, she would call me after a closing and be like, David, where do you find these people? I'm like, these are the people that call bandit signs. These are the people that these are the people that answer we buy houses postcards. This is who you get.
You know? People that are in just severe distress and need someone to solve their problem. Right.
Steve: So severe distress, lower price point, so lower fee, more people Way more work. Yeah. Than people. More more work to get to clean the title. More people involved.
Yeah. That we gotta make sure that no one's talking to each other. Yep. And then lastly, you get to do a discount on the on the title.
David: What's not to love? Yeah. Why why wouldn't you want a title company?
Steve: So I've explained this to a few friends. I don't think we've talked about it on the show. So, like, you guys are wondering, like, why does it seem like the title company doesn't care about my business?
David: Damn. This is it.
Steve: That's why.
David: Yeah. And they have to call you, and you don't answer the phone. You don't answer their emails. You don't you don't get them the information that they need. So they stretch out.
There's plenty of bad things to say about title companies too. But we as investors, we are not the archetype of the best client.
Steve: No. We don't read our emails.
David: No.
Steve: So, like, I have in my in my organization, Larry, who you've got to interact with.
David: Yeah. Yeah.
Steve: That's great. He he was, a lawyer. Mhmm. So he's very detail oriented.
David: Right. Yes.
Steve: Right? And, he'll complain to him on a regular basis. Like, Steve, I sent this email to your client. Why didn't they read it? And I have to remind him, you have to understand, our clients
David: Right.
Steve: Are exactly like me.
David: That's exactly what I tell my team. Right. The same thing.
Steve: Would you would you expect me to read this email? And he just rolls his eyes like, I guess not.
David: Yeah. I've I've had to you know, as we've brought in and trained and certified coordinators and, you know, over the years, we've been doing this for a lot of years, and I have to explain to them, listen. Do not send our client war and peace email. Mhmm. Like, you know, because some of the because the people we hire are the detail people.
Right? They are like, they wanna give you you paragraph to paragraph. I'm like, I promise you Mhmm. Nobody's reading that
Steve: shit. Yeah.
David: Nobody's reading any of it. Right? They're literally they're looking at it, and they glaze out there, and they're done. Send them just the bullet points. Mhmm.
Either need decision or tell me what tell me what what it is that you wanna do. But, yeah, the we are not those people.
Steve: So, you know Jason Lewis?
David: I do.
Steve: Investor machine?
David: Yeah. Yeah.
Steve: So, we worked on something together for a while. It's not it's no longer up and running, but we were we're working on something for a while. And this is the tip I got from him for our clients. Alright? So you're in our sales training program
David: Yep.
Steve: One of the things we have is a, a roll call. Right? Attendance sheet.
David: Mhmm.
Steve: So, David, on your team
David: Mhmm.
Steve: Here are the people that were attended the training. Yep.
David: Here are the
Steve: people that had the cameras on, and here are the people that participated in the training. So there's three levels of participation.
David: Oh, I like that.
Steve: I guess four would include zero. Right? Yeah. Yeah. Yeah.
Right? But did you show up? Mhmm. Was your camera on? And did you participate?
David: Like that.
Steve: And we send that to our clients. But here's the thing. They get the Google Sheet. They can check anytime they want.
David: Mhmm.
Steve: But what we're doing doing on top of that, because I know they're not detail oriented people, they're not clicking on the spreadsheets Yeah. Is just a screen capture
David: Yeah.
Steve: Of the spreadsheet. So they can just click on the picture Yeah. And then who on their team was on the calls and who it was.
David: Yeah. I have the greatest COO ever, Heather, and she's amazing. She texted me yesterday. She's like, the reports for August are all done. I'm like, okay.
When are we gonna sit down so you could tell me what was in the report? Because the odds of me stopping to look at that report are god bless her for doing an amazing job, but slim to none.
Steve: Yeah. We just need the reports done. We don't need to ask you to look at it.
David: Yeah. I I wanna make sure you tell me if there's do we have a problem? Just that's what I wanna know.
Steve: Yeah. Yeah. And then the other thing too, going back to what Austin was talking about was the mistake that people hire transaction or escrow officers. Yeah. Is that it's a different risk profile.
You're probably a great closer. You're spending tens of thousands of marketing, running appointments, and getting contracts signed. And we both know the only difference between where you are today, where you wanna be, are those contracts that you didn't get signed. If you had those contracts signed, you would have more money to spend on marketing, more cash on hand to hire the person that you've been looking to hire, and you wouldn't lose any sleep wondering if that one contract is going to close, which would allow you to have more free time to spend with your loved ones or working on your business instead of working in your business. Once you attend our two day event, you'll walk away with all the tools you'll need to create deep personal trust, overcome any objection thrown at you, and get homeowners begging you to buy their home.
So you have a choice. You can keep doing what you're doing now and getting the results you've been getting, or you can join the hundreds of people that have attended and are simply crushing their respective real estate markets. To attend our event, go to closemysales.com/realestatesales, and I'll see you there. Is it it's a different risk profile.
David: It is. Yeah. They they don't they definitely don't understand. One thing that we do with all of our team, whether they're on the you know, we'll talk about the title side, but the transaction coordinators is when we bring them in after they're hired, because we know who they are. We'll bring them in and we'll give them a disc test.
Mhmm. Not because I'm gonna screen them out. I want them to understand their personality type. And then we I have this video that I watch that I've I show them all the time, this little English guy. So it's funny because he's got an English accent.
But I want them to understand who our clients are. Mhmm. And I want them to understand that, yeah, hey. You're the, you're the paperwork detailed oriented person. They're the banana heads.
I say that because I'm a banana head. Like, I'm a goofball. I have zero attention span. I go from one thing to the other, and I'm, you know, always coming up with new ideas. Like, understand who they they are so when they don't answer you, you're like, oh, okay.
I get it. Like, I need to I need to talk to them so that they can understand. It's not their job to adjust for us. Right? Because they could do that.
They would not need us. Right? You know, like, we're the we complete them. Right? That that's our job.
Steve: Well, it's that. And also, escrow officers are not proactive people. Yeah. Right? Their their job is to mitigate risk.
David: Mhmm. Because it's an insurance game. Mhmm. Most people don't have to
Steve: risk and then also not be proactive. They just kinda sit there and wait for the phone to ring. Yeah. Did you do this? Yeah.
And that's the worst. We can have Yeah. Transaction coordinator.
David: Yes. Yeah. Because you need or you don't have a transaction coordinator and you're trying to do it yourself. Right? And, again, so we've talked about bad things about wholesalers, you know, escrow and and agents and title agents.
They never give you everything all at once. Yeah. Right? It's it's, hey, Steve. Is this guy is this, your seller?
Is he married? They're like, oh, jeez. I don't know. Hey, Joe. Are you married?
No. I'm divorced. That heifer. Whatever. Hi.
No. Penelope. No. He's, he's divorced. Great.
When did he get divorced? I don't know. Tell him when did he get divorced. Oh, three weeks ago that whatever. I'm like, okay.
Great. He got divorced three weeks ago. Oh, great. Well, that was, that that was why he's still on the house? Yeah.
I think so. Great. Well, now we need divorce decree. God bless it. You know, it's never just like, hey.
Here are all the things we need. It it feels like it's death by a thousand paper cuts. It's one little piece of information at a time. And what happens is this takes you out of this takes you out of the game. Mhmm.
Now you're on the sideline filling out report you know, filling out reports and doing emails instead of doing what? Talking to buyers and sellers, things that make money.
Steve: Yeah. Income act income producing activities. And then I've noticed, you're making a lot of content with our friend Robert Wensley.
David: Yeah. Yeah. Robert's my boy. I was, I don't know if we've talked about this. I was user number 11 on the system way back when you first started.
You were. I was in the first round of cartel bosses. Mhmm. Yeah. Been there forever.
Gotcha.
Steve: You got anything exciting going on?
David: We do. We we actually have a partnership with with, investor lift coming out called Title Lift. Mhmm. And we'll be we'll probably be on the show. We'll be talking a lot more about that coming up.
But it is a very exclusive title company just for investor lift users. It's exciting. It's gonna be very cool.
Steve: So I I had I did, I did a podcast. So I spoke at WealthCon. Right? Yeah. Yeah.
Ryan's. A month or two back. Mhmm.
David: We did Ryan's account or transactions for a while.
Steve: Yeah. And while I was there, I did a podcast with Brian Davila.
David: Mhmm.
Steve: Right? And on a podcast, Brian was the first one that I did a full breakdown on why I shut down my real estate side. Yeah. Right? And he was really excited because, like, oh, I'm the first person gets to talk about this in podcast.
Like, yeah. You're the first person.
David: Really?
Steve: So a friend of ours, Josh Yep. Reached out to me, and it's like, hey. Talk to me about you shutting down my real your real estate side because I'm doing real estate. I'm doing mortgages. Mhmm.
And I feel like I am not making any progress Right. Into which I share with him that, you and I had a private conversation Yep. About this. Because I was wondering I was on the fence. Should I shut down real estate or not?
David: Yep. Right?
Steve: And as I say this, like, we just closed on a transaction. Not because we wanted to. We actually tried to get out of it. Really? The seller wouldn't let me.
And so, so I shared with with him that, a, Jason Medley at Collective Genius has been in my ear Brilliant. For years. Like, you need to focus. You're you're doing a terrible job of focusing. Mhmm.
Right? You know, just do one thing and one thing well. Right. And I have my own self image issues. And then Paul Sparks, who I worked with at Well Club, also has taught me a lot about, like, hey.
You know, you only have so much time, money, and attention. Mhmm. And you gotta split focus.
David: Mhmm.
Steve: Right? And so then I did my vivid vision. I I was like, yeah. I don't see real estate in this
David: I love Cameron. He's
Steve: great. Your plan. Yeah. So I talked to you. Mhmm.
Yep. So and we had a
David: I know. I saw I saw your I'm like, oh my god. You called I'm like, what did I screw up now? Let me pull over.
Steve: Well, I called you at, like, 05:30 my time.
David: Yeah. It was late. I remember exactly where I was.
Steve: I think you're sorry. You're East Coast?
David: East Coast. Yeah. It was
Steve: 08:30 your time, so thanks for taking the call.
David: Oh, always.
Steve: So let's talk about that conversation.
David: Sure.
Steve: What got you to because you're number 11. You're number 11 in investor lifting cartel boss.
David: Mhmm.
Steve: Yeah. Cartel bosses were not small fries.
David: No. No. We we were operating in 28 markets across the country.
Steve: Yeah. You even had a dispo course?
David: Yeah. I still do. Still still teach it and do consulting every so often. Not not often, but if somebody's like, I know a personal friend says, hey. Can you come out my team?
I will.
Steve: Yeah. So so you do the dispo course. You were doing nationwide dispo.
David: Yeah. Yeah.
Steve: So that's a pretty big thing to shut down.
David: It was. We were making a lot of money. We were a million dollar company. Yeah. Yeah.
It was and let me say all of this. Like, I am in my soul, in my core, a wholesaler. Mhmm. A lot of people say, I'm just I do real estate. It's a vehicle.
I love it. Mhmm. Like, when I'm driving down the road and I see a vacant house, I'm like, somebody needs to go call them. Some I've seen it empty now. Somebody I was driving through a part of town the other day, and I'm like, like, I wanted to write down the addresses.
Like, I am in my I am a old school knuckle dragging wholesaler. I love wholesaling. I love real estate. I love the whole game. But, yeah, I think to go backwards, one of the things that made me successful in the beginning was extreme focus.
Right? So we talked about this last time. When I started wholesaling, I again, I was half broke. I didn't have enough money to even be considered broke. But the reason that we broke out and did so well was, you know, real estate and wholesaling was the first thing I thought about in the morning before I put my feet on the floor.
You know, I had my little affirmations card that I read, which is amazing, and everybody should be doing it as hokey as it sounds. I went out and drove for dollars all day. I knocked on doors. I put out signs, you know, and it was the very last thing I thought about before I went to bed. Because running any business, starting anything, whether you're opening a muffin shop or a real estate business, it takes a lot of work and focus.
It is like rolling a boulder up a hill. Right? Mhmm. It takes everything that you've got. Even with a great coach, it still takes a lot.
So that's why we were successful because we were very focused. As time goes on, I had some partners, we grew, you know, thing things got bigger. And somebody came to me and said, hey. Would you you should coach on dispositions because that's something you're really great at. I'm like, okay.
So I took that on and started doing coaching. And then that being kind of known for the second half of the business, the dispositions and transactions because I've been doing it for so long. We, you know, we talked about this before, how we sort of fell backwards into into the transactions company, EZRI closings. Now I'm doing all three. And it was a lot.
So one of the reasons how we
Steve: Coaching, wholesaling, and transactional.
David: Right. And, you know, I I we talked about Ken Clothier. He was he was a coach of mine. Tim Mai. Just lots of people.
They were like, bro, you need you cannot do all three. Mhmm. It's it's you just can't because you're you're dividing your day into three parts, and you're never you don't have enough focus or or devotion to any one of those three children. Right? So, you know, they're they're all just getting a little bit of your attention.
And what's even worse is the people on each of those teams, right, whether it be the students or the the transaction coordinators or my sales team and dispositions team, they're not getting all of my attention. And I I wasn't I wasn't doing the right doing right by them. Right? And your team is important. Right?
It's our responsibility as owners, CEOs, presidents of the company, whatever, to make sure that the business is optimized so that all of those people are getting what they deserve.
Steve: Yeah.
David: So the first thing I did is I shut down the coaching, and that was difficult. I had to go into my Stripe account, recurring bill. Cancel. Cancel. Cancel.
Cancel. That was very painful. I can only imagine.
Steve: It was thousands
David: of dollars. A lot of money every single month. So I'm like, okay. So that was great. So I shut that down, and then this is or '23.
This is in 2022. So I said 2023, we're gonna focus on the transactions company. So I went out. Which we
Steve: did four x,
David: and this is one of the reasons why because we got very focused. So I knew I god. I just did not wanna shut off wholesaling. Right? Like, I have a big rental portfolio.
We talked about that. Like, I I do love real estate. Right? So I said, I'm a hire a sales manager. Mhmm.
I'm gonna hire someone to come in and run this part of the business so I can just maybe, like, spend 5% of my time on it. Mhmm. And that's a challenge. Real estate wholesaling sales managers are not on the shelf at Walmart. You cannot just go, like, I will take two.
Right? So so that that doesn't exist. So I brought in a guy who had run, he was a sales manager for car lots and spent a lot of time with him, went a lengthy interview process, and brought him in, and he lasted, like, ten days. And he just ghosted us. He just left.
And then I brought in this girl who'd worked at a bank and was a trainer for banks, and I thought, oh, she'll be more professional. She lasted a little while and then ended up being a complete disaster. And finally, we're we were actually at the very beginning of 2023, and I had to decide, like, I just can't do it. Like, as much as I love it, you know, the the bigger long term goal for us is is building this company. Mhmm.
And, you know, we knew we're gonna open a title company. We knew we were gonna do a lot of things. And as great as wholesale is and as good a money it is as it was, I had to pick one. And it was it was heartbreaking. Heartbreaking.
So we we did last year early last year, we shut down the wholesale company. Now, you know, we went to our team. Hey. Anybody who would like to come over same building, same office. We're just we're just transitioning.
If you wanna come over to the transactions company, great. Hey. You'd be great in sales. You'd be great as a TC. Whatever.
We we tried to find places for everybody. Some people stayed, some people didn't. And, but now, you know, the only thing that people in my office do, nine, ten hours a day, whatever it is, they come in and they're there to serve our clients. We're not trying to we're not trying to wholesale. We're not coaching.
You know, we're just making sure your deal is getting closed.
Steve: Everybody's rowing in the same direction.
David: Yes. Everybody's around the same campfire.
Steve: Yeah. And that was kinda for me because I I was wondering the same thing. Like, should I do this? Should I not do this? Yeah.
And,
David: But, Steve, you know, Warren Buffett says you have to have six streams of income. Mhmm. And that's the most nonsensical thing that makes my head just explode when I see it online.
Steve: Why? Why does that make your head
David: Well, because it's not true. But, like, you know, if you somebody who I listened to Bradley or somebody the other day is like, yeah. Do one thing. Mhmm. Get one thing to be a million dollar business Mhmm.
And then think about maybe opening up something else. Right? You can't birth two children at the same time.
Steve: Well, I think what they failed to mention is, like, yeah, they might have seven, but they had one Yeah. And then get the other six.
David: Right. But what happens and and the reason it's it's it bothers me is it's such a fallacy because a new investor. Right? You know, somebody who's just getting started sees that, and they're like, oh, I need to wholesale, but I also need to do storage units, and I'm gonna do prepaid legal, and I'm gonna do Amway. And I'm gonna, you know, I'm gonna do all of these things.
And which one are you focusing on?
Steve: Right.
David: None of them. And so none of them are gonna grow. And if you're trying to do that two, three, four, five, six different businesses or streams of income, you're competing against me.
Steve: Mhmm.
David: And I'm freaking focused, man. Yeah. My team will wipe the floor with you when we were wholesaling. Right? We we don't even have to be great.
We're just focused. We answer the phone when people call. We do the big stuff. So that's who you're competing with. Mhmm.
So then you're wondering, you know, and then we I see this all the time. Right? When I was coaching or when I'm speaking to people or people that that have talked to me. Well, jeez. I you know, I've been doing this real estate thing, and I just just hasn't been really great.
I'm like, oh, yeah. Tell me what else you're doing. Oh, I'm doing all these other things. And I get it. You have a nine to five job clearly.
Like, you know, we a lot of people start out there. But trying to do all these different things because you you read that someplace, and it it sounds cool. Right. It's not a recipe for success. And, honestly, I think with a lot of people, I don't know what the right word it's it's it's a way to divert divert their attention.
It, you know, it gives them an excuse for not being all in on something. Yeah.
Steve: Well, it's scratching their itch. Yeah. So, I mean, there was a time, right, where I had, my real estate agency.
David: Yeah. Right?
Steve: Like, not the brokerage. Like, I was actually a real estate agent. Right? Like, team I had a real estate agent team. Yeah.
Had a brokerage. Had a side of company. Had a mortgage company. Yeah. And it was going pretty good.
David: Yeah.
Steve: Then I had a wholesaling company.
David: Mhmm.
Steve: And after I had a wholesaling company company, none of those companies really made sense to keep around. Right. And they just slowly shattered because all my attention was on the wholesaling side. Right? And
David: Now if you could do it and you can grow a company and then take somebody and put them in place to run it, cool. Like, that's the end goal. But like me with my sales guy, if I couldn't find that person, then I had just had to make a decision.
Steve: And that's kinda where I was at. Yeah. Right? So I had the whole I had the wholesaling company. And, yeah, just go find a COO.
Just go just go find a COO. Yeah.
David: Put you an integrator. That's what they said in traction. Right? Yeah.
Steve: Just go and integrate it. This mythical person who could do all these things. Do they exist? Yes. But they are not one in a 100.
It's way less than one
David: in a 100.
Steve: Yeah. Yeah. And so for myself, I was kinda this crossroads, and, it took a lot to it was basically two different things. It was to humbly submit
David: Mhmm.
Steve: That I am not superhuman,
David: that I cannot That is hard for investors.
Steve: Hard for investors. I cannot do two things well. No. That was really hard to humbly submit and and Mhmm. Surrender that.
Right?
David: Yeah. I've done it, and I there are still days where I'm like, last week sitting in my parking lot at my office, I'm like, you know, I could easily wholesale another $40 a month and make up another half $1,000,000. Yeah. And, yeah, I could. But that time that I'm doing that, I'm not taking care of my clients, and I'm not taking care of my coordinators, and I'm not you know, there's gonna be something that's gonna fall through the cracks.
Steve: Right.
David: That's the way it is.
Steve: And then the other part too was for me, the, I've been buying houses since 2005.
David: Mhmm.
Steve: Right? So starting buying, flips in 05 rentals in Yeah. 07 and and all on the way. Mhmm. So now, like, my identity has been this real estate guy this whole time.
David: Dude, that's me. I'm the wholesale guy. I'm the dispo guy. I get it. That's my identity.
I I 100% understand. Yeah.
Steve: That's hard. That was tough, right, to to finally, you know, say in February, our right we're no longer marketing
David: to buy houses. Shutting off my PBC was it was it was one of those things I I I did the email, and I've got my mouse, and I'm just sort of circling it on the screen going going circling over the send button. I'm like, oh, just you just had to do it.
Steve: Yeah. So, anyway, I just I wanted to share this because I I posted that one thing on Instagram, and I was surprised by the outpouring of comments Yeah. People that reached out.
David: Mhmm. And
Steve: then people that were having the same dilemma. Mhmm. But you don't hear a lot of people talking about it.
David: Well, because, again, we talked about this before we went on. It's this is the Instagram age of, you know, Rolexes and Lambos and Right. Everybody just wants to talk about how successful they are.
Steve: How easy everything is.
David: It's so easy. Right? And you and I, we're lucky to know a lot of people, you far more than me. But the biggest person that you see on on Instagram that you're following that you think is the greatest thing Mhmm. And they are great, they all have bad days.
Mhmm. Right? They've all we've all got struggles in our business where am I making payroll this this month? Right? Like, everybody has that.
Don't be confused.
Steve: Right. Yeah. So, anyway, I wanted to touch on that. And then, oh, another thing too, the other benefit from that. Because you talk about, like, oh, I can wholesale or I can go now, like, wholesale another 40 k a month or service clients.
David: Right.
Steve: Like, I didn't realize until after I shut down the the wholesaling side Mhmm.
David: How
Steve: much time it was taking. Because on my calendar, it was only two hours a week on my calendar. Yeah. Right? Our level 10 meetings.
Yeah. That was it. Yeah. And then we sent out the soldiers, and they go March. Yeah.
What what never showed on my calendar, and I was just too ignorant or too naive to even be aware of, where the guy admitted meetings. And, hey. We have a fire. Yeah. Right?
Hey. Wait. I need
David: you to tell me what to do here.
Steve: Yeah. And your car lot guy and your banker lady Mhmm. Can't answer those questions.
David: That's right.
Steve: Right. And so then it always goes all the way up the flagpole.
David: Yeah. And,
Steve: like, what do you do here? I was like, alright. Give me the phone. Let me talk to the seller.
David: Yeah. I I can handle it because because we're problem solvers. We're the supermen in our office. Right? We are people with all the answers.
Steve: Well, because there's you can learn real estate on YouTube. Right? You can learn a lot. Sure. But those difficult nuances Mhmm.
Or, like, these different scenarios Mhmm. We just have the experience.
David: I can learn a lot of things. You know, I, I can read all the books on mixed martial arts in the world. Mhmm. I can watch all the Bruce Lee videos. Mhmm.
But I'm never gonna until I've experienced a straight blast to the face. Like like, you you just have to be you have to be in the in the mix. And yeah. So so that's that's a challenge. Right?
You just keep getting sucked back in. Mhmm.
Steve: Yeah. And then so now that I don't have that distraction, which, again, I didn't realize how much it was taking from my time. Right. I now get to think how I can be a better Mhmm. Provider.
Sure.
David: How can
Steve: I be a better partner for our clients? Like, I got a call earlier today with one of my dear friends who
David: Mhmm.
Steve: Has been a client. He's like, let's talk about your business. Yeah.
David: Where
Steve: are you struggling? What are some challenges you're having? And here's, like, you know, some things I can suggest here or there, or you should go talk to this person.
David: Yeah.
Steve: Couldn't really do that
David: Right.
Steve: When I'm just hour after hours filling my calendar. Right? Like, I used to be proud Mhmm. That I had forty hours in my calendar filled before the week started. It's
David: exhausting. Right? I know. I have those days too. So so what you're talking about there is that's what separates the good from the great.
Right? We just went through the Olympics. The person who gets the gold medal and the fifth place person, tenths of a second. Right? It's such a small little amount.
It's people going that, you know, that extra mile or, you know, pushing all the way through. But now you've got that time to add value and to talk to your clients and really care important to them. Right? With our transactions company, I never dreamed that I was gonna be in as invested in my clients' companies as they are. Like, probably more.
There are days I feel like, dude, I care more. Mhmm. We can save this deal. Do not cut this loose. Right?
Right. But, yeah, that that be you know, the same way you're helping your friend, that's how we look at our clients. Like, we want to see them succeed. And and now our attention is all on them, and and we can try to do that.
Steve: Exactly. Yeah. So you still get to make an impact?
David: Still get to make an impact. Still get to talk to them about their deals. That makes me feel good. Mhmm. You know?
Steve: Yeah. Okay. So the biggest secret the biggest industry secret no one wants to talk about.
David: Yeah.
Steve: So what's going on?
David: This is not this is the gurus don't you have all the gurus sit right here. They all come in, and they they promote their thing. Mhmm. How how easy real estate is. So shocking statistic that we got the other day.
So we we also own a title company that's exclusive for for our clients. Mhmm. And we are getting licensed in Florida. And the underwriter from First American told us that 60% of contracts investor contracts in the state of Florida do not ever close. Nobody tells you that.
Oh, it's gonna be easy. I read Rich Dad Poor Dad. I'm gonna go talk to somebody who wants to sell their house, and then I'm gonna go sell it to an investor, and I'm gonna take it to a title company. Bing, bang, boom. I'm gonna make $40,000.
Steve: So you're dating yourself. Yeah. Yeah. Yeah. It's not Rich at Porta as Instagram.
David: Yeah. That's true. Right.
Steve: I saw someone on Instagram flashing a cashier's check, sharing how easy it was
David: Yeah.
Steve: And they got into it.
David: And and I get it. You know? Yes. There there are people that are selling courses. And and I'm a product of those courses, so I'm not here to say that they don't work because they all work if you if you apply yourself.
Steve: So 60% falling out. Like, I'm used to, like, I when I in certain rooms Mhmm. I would hear 30% fallout is pretty common. Yeah. Right?
And that includes a mixture of, buying it wrong Mhmm. Or title issues. Right. Right? Or seller backing out Yeah.
Or buyer backing. Like, this is one of those four. Sure. Right? 30% is pretty normal.
David: Mhmm.
Steve: And then when things got harder, particularly with the interest rate hikes Mhmm. In '22 and then kinda where we are today
David: Yeah.
Steve: 50% was kinda what I've heard
David: Yeah. Me too. Fall out. Until last week. Like So
Steve: 60%.
David: In family mastermind. And remember remember about a year ago, Charad and, I think a couple of the other CRM guys, they put together a little report that said, like, 48% of their their deals on their CRMs weren't closing. So so I fully expected that. To hear 60% was was shocking.
Steve: What do they attribute it to?
David: So they did they don't have stats. That's just First American. They just look at files open, files that don't ever close. Mhmm. Right?
So that's it. So I think you're right. There are a ton of title problems. Right? Again, nobody gets into this business to understand how to how to, you know, not go through probate, right, or how to how to, you know, fast track a bankruptcy and Mhmm.
Get a release from the from the courts or, you know, what do I do when there's 23 heirs? What do I do when there's a lost mortgage? Right? All these things that derail your contract Mhmm. And make you just throw those throw those away.
That's something that we really specialize in helping people. But, also, I would say the next biggest thing that causes contracts to die is a bad sales process. Mhmm. Right? And I get it.
I've had an acquisitions team. Eight people sitting sitting in a room, you know, at desks all around the wall, and they're they're all day long. They're talking to sellers, and all they wanna do is get that contract. Right? They they they get up every morning.
They come in fired up. They just want the contract. If you'll just say yes and sign Mhmm. I get to go ring the bell. Mhmm.
And maybe they didn't ask the question. They're like, oh, the kitchen's fine. Tell me more. Mhmm. Oh, plywood cabinets with a green countertop and a little metal band that goes around it.
I should probably budget for, you know, a low enough price that somebody can can replace the cabinets. Right? But if they don't ask good questions, how's the roof? Great. No leaks.
You know? It's forty two years old, but no leaks. Whereas I love
Steve: at least.
David: Yeah. Yeah. Right? So, yeah, there I think a bad sales process, not asking good enough questions or good follow-up questions Mhmm. I think that attributes a lot to it because you think you have a deal, and I've been through this, you've been through this as a nationwide wholesaler.
And, you know, then I put it out to my buyers, and they're like, bro, 15,000 for repairs? What are you? Crazy? It should be like 60. You're like, no.
Come on. Right? Because we just we don't ask good enough questions or, you know, we don't we just fumble some part of the sales process. So those are probably the two biggest things, title issues and, you know, bad, you know, bad acquisitions process. Then, of course, you know, you do definitely get some sellers who who wanna bounce out on you and not follow through.
Right? And there's certainly ways that you can mitigate that. And then, you know, you get I think the probably the least common thing would be buyers that flake out. Mhmm. Yeah.
Steve: So let's talk about the sellers bouncing on you.
David: Yeah. Why
Steve: do you think the sellers might be bouncing?
David: Well, I think it's pretty common. Again, who are we? We're we're very frenetic. I'm gonna I'm gonna lock up my seller, and then now I'm gonna I'm gonna change my hat into dispositions, and now I'm in dispo mode. Mhmm.
Right? Now I'm gonna go out and find my buyer. Then I find my buyer, and what am I now I'm gonna try to get this thing closed and do it all myself. Right? Again, the you know, I've been trying to do everything.
Right? And then I call missus Smith, and I'm like, hey, missus Smith. Great news. We're ready to close on Tuesday. He's like, who are you?
Mhmm. Like, oh, I'm buying your house. Remember we talked six weeks ago? Oh, I didn't know you were serious. I haven't heard from you.
Mhmm. I signed a contract with Steve because he talked to me three weeks ago, and he said he could close in in a week. So, yeah, I'm set to close with him, like, tomorrow. Mhmm. So I think that's the biggest reason that sellers back out.
I know that a lot of people love to post about, oh, this person snaked my deal. But the reality is Mhmm. You probably didn't you know, you didn't have, again, a good sales process. The seller didn't feel like you could really solve their problem, and you can talk people into signing a contract. And then afterwards, they're like, I'm I'm not doing this.
Right? Like because some people are just so so talented on the phone. But, a lot of times, it's you just didn't have good communication with your seller. That's one thing that we do at Easi is we make sure that we touch base with your seller every single week. Right?
Make them feel good. Make them feel comfortable. Hey, missus Smith. Just wanna, you know, follow-up. You know, our weekly touch, you know, touch base that, hey.
We're still scheduled to close on September 21, make sure everything is good. Do you have any questions? Let me know. Every week we do that. So they're like, oh, great.
This is really gonna happen. Mhmm. Because if not, if you just leave them hanging out there in the wind, you're like, when you call her, she's gonna like, well, I thought I was selling my house to Davey. He seemed like such a nice boy, but I haven't heard from him, so I guess it wasn't a real thing.
Steve: Mhmm.
David: Yeah. I'll sign your contract.
Steve: Yeah. The dangerous thing most dangerous thing about silence
David: Mhmm.
Steve: Is the imagination starts going.
David: Yeah. Be in a quiet room, and let's see what your brain starts starts thinking up. Right?
Steve: And the imagination is never in your favor.
David: No. Well and and think of who you're talking to. Right? What's again, our job as a wholesaler and investor is to help people. These are people people who are distressed and have a problem.
Right? That's why they chose to call the bandit sign on the side of the road that says, we buy houses, invite you over, let you walk through their house, and ten minutes later sign a contract. Right? These are people that are they're it's keeping them up at night, this property. Right?
So you're gonna solve that problem. But if they don't hear from you, now their confidence in you starts going down and down
Steve: and down. There's a story that they're telling themselves.
David: Right.
Steve: And we can either impact that story with weekly updates Yeah. Or we can, I guess, not impact that story?
David: Yeah. And
Steve: then it becomes a nightmare.
David: Yeah. Exactly. Yeah. We, we we bolster the bad things that are going on in their brain. Mhmm.
Yeah. No. A 100%. Yeah.
Steve: And that that's something one of the biggest things. You know? This was not a common thing when I got really focused in wholesaling. Mhmm. You know?
In '18 is when I really, really went all in on wholesaling. Mhmm. Weekly updates was not a thing. Right?
David: No. We we did it because in my business, I'm like, why are what's happening with these people? Like, we we ran a real company. Like, did like, all the things that we do for our clients at these are REI closings is because that's the the stuff that I put in place for my company. Mhmm.
And I'm a dick. Like, I want stuff to be run right. You know, I may not be the most organized person, but I can spot a problem and go, let's stop hitting ourself in the face with this brick. Let let's put, an SOP in in in place so that we can stop this. And and that was one of those things, weekly weekly touch ins.
Steve: Well, that was something I took, when we implemented for my realtor days
David: Mhmm.
Steve: Or my realtor hat is that with the homeowner, the as a as a listing agent
David: Mhmm.
Steve: Man, if they called you for an update
David: Mhmm.
Steve: You're already behind the eight ball.
David: Oh, yeah.
Steve: And you gotta fix this mess
David: Yeah.
Steve: Right, versus a five minute call once a week Mhmm. Everything's good. Yeah. Everything's fine.
David: Perfect.
Steve: Right?
David: It's like it yeah. Like, if I don't call you
Steve: and then you call me three weeks later, I gotta fix your emotional situation right now. Yeah. I gotta go put out more fires. I gotta calm you down. Yeah.
It gets me in a bad mood
David: Mhmm.
Steve: And just completely sets me off my game.
David: Right. Yeah. Now you're worried about, oh my god. Is this are they gonna are they gonna bounce out on me? Are they gonna go talk to somebody else?
Because if you do that little thing, if you touch base with the seller, when that other wholesaler calls them, not like let's just set unscrupulous people aside. There's some, but that's not the majority.
Steve: Right.
David: Missus Smith is on your list just like she's on my list. There's no secret list. Right? There is no secret. Yeah.
So, you know or, you know, they're they're getting flashed up, you know, ads on Facebook and everything else just just like everybody else. But, yeah, if they don't hear from you, they will reach out to the or they will agree to sell to somebody else because they have a problem that needs to be solved.
Steve: Yeah. Yeah. And, you know, guys, if you guys are interested in checking this out, realestatedisruptorstc.com. Check out ECREI. So you go to realestatedisruptorstc.com.
So one other thing is you get to lay your eyes on a lot of what's going on in the industry.
David: I see a lot of data.
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David: So we we had a shift a couple years ago. Novations blew up. Right? Brewer, Corey Geary, all these guys. A couple of them came out, and Novations just took the country by storm.
And it it just gave us another outlet. Right? Another way to go out and lock up deals that otherwise we couldn't. Right? Mhmm.
If you think about the best wholesaler, who's our our buddy with the beard, RJ. RJ Bates. Right? Locks up probably one out of 10, and he's a freaking the champ. Mhmm.
Awesome. That's really great. What about the other nine? Mhmm. Right?
So adding these other strategies gives us another bite at the apple where we can you know, the nine people who said no because they couldn't take our low cash offer, well, now we can now we can go after them and have a strategy where we can help them out of their distress. Mhmm. So Novations were huge. Probably forty, forty two percent of our business is Novations. It's very big.
And now what's come out recently? The installment method. Right? Because investors have done enough bad investors have done enough things to get on the radar
Steve: Right.
David: Right, where legislatures on at the state level are starting to go, hey. I think we've had enough of the youth group over the old ladies. Are we? As a whole, no. As a whole, we move the the the country forward, the end of there you know, we are out there buying the houses and contracting the houses that nobody else wants to deal with.
Right? So, if you were to wipe out all the investors with a a snap of the finger today, it would cause a problem.
Steve: It would.
David: However, bad news is what sells. Right? And there's no political party that loves us. We are we are an easy whipping stick for Republicans and Democrats Yeah. And we're the big bad investors.
So, anyways, so states have been trying to outlaw, legislate, curtail wholesaling for a number of years. States have tried it and have not been really successful until recently. Yeah. The state of South Carolina figured it out. They is it bulletproof?
No. Do I I'm not an attorney, but do I think it could be challenged in court and win? Yes. Do I have $4,000,000 to challenge it? No.
So until somebody does, this law is going to stand. So the installment method came out, and it's a great workaround. Right? It's, you know, an attorney there in the, in or Georgia. In South Carolina figured out this method where you can still do deals.
And I think that this law in South Carolina, over time, is going to get picked up by other states.
Steve: Mhmm.
David: And it's going to be a problem for the traditional assignments. One great thing about this is not doom and gloom because one great thing about investors is we are very light on our feet. Right? Right. We can pivot very quickly, much faster than the government.
Mhmm. So so yeah. So in the industry, that's what I'm seeing. There is there is a shift, and it's it's starting to happen faster than it might have happened in the past. Right?
So not only with states, but with title companies and underwriting, you know, they're they're getting very aware of fraud that's going on, wire fraud, you know Mhmm. Identity fraud, that type of stuff. So, yeah, there are definitely things that are changing in the industry where what you might have done three years ago, you can't do today.
Steve: Yeah. So what are the because, like, I know Oregon passed Yeah. Legislation. Yep. And then I think right by them, like was it, Iowa or something?
David: Pennsylvania, I think, has something on the boat. Pennsylvania
Steve: just passed something. But even before Pennsylvania, I think it was Iowa. It was one of those states up there. Right? And then Pennsylvania, is making it where you had to become licensed Yeah.
The wholesale. Right. And it's a built in thirty day right of rescission Yeah. Which from the homeowner.
David: Legal? I don't know. But that's what passed. Right? Everything's legal until it gets challenged.
Right?
Steve: Right. So are you seeing as every time one of these legislation changes, you're seeing a shift in the market?
David: Sometimes a small shift. You know, there are some states where attorneys and title companies are like, nope. We still think we can close. And that's okay. That's their that's their law license.
Steve: That's their business.
David: There are some attorneys who will still close an assignment in South Carolina. I will not name check them because they don't want the notoriety, but we do it. You know? I mean, we we do it for them. It's good until it's not.
Right? But, yeah, I think I think there's definitely a shift. People are are looking. And, honestly, like, with the installment method, like, it's a great system, but it's not anything new under the sun. It's probably what we did forty years ago.
Mhmm. Right? We're now kinda what's old is new again. So, you know, what I tell a lot of people, Tim Harridge, you know, him and I have talked a lot. I think we're going to go backwards in time where you have to actually close on your deals.
Yeah. Luckily now, funding is not a problem. Right? Like, you can literally call up, throw a rock, and hit somebody who will fund your deal. Right?
Because there's so much money available in the industry.
Steve: Tim Harwich with, what was the
David: name of the Ternus. Ternus. Yep.
Steve: Yeah. He's he was on the show. If you guys haven't seen him, he was on here about a month or a month, a year or two ago. But, yeah,
David: Tim Harwich. Fantastic. So smart.
Steve: Yeah. Big freaking deal. Yeah. So, so you're seeing, more more installments. What's fascinating is we you know, Devin Devin Robinson, he was on the show.
Mhmm. He is just crushing the competition right now with installment method. Yeah. And what's fascinating is, like, I believe he was on a show around November. We started talking about it.
Yeah. Right? But no one really listened. They're like, there's no way this will ever change.
David: Yeah. There's no way. Listen. I'm that guy. I've said too.
I listen. I don't think you could take away assignments. I think it's just built into common law.
Steve: Institutional. Right?
David: It's I I don't know. It's it's just it's in common law, and it's so baked in, but they figured out a way to
Steve: Well, it's you I
David: to make it really hard.
Steve: I think it's uniform commercial code. Right? Like, it's it's Yeah. It's built in. Right?
David: Well, that's and there is some provisions within that South Carolina law that says, you know, it doesn't apply to assignments because you can't take away the right to assign a contract to buy a truckload of Diet Pepsi. Right? So because, you know, assignments happen in in all industries, not just ours. We think we're special with assignments, but it happens every place. So there had to be some provision to where, like, like, you know, you can't outlaw that.
Yeah. But they made it very difficult to successfully assign real estate in
Steve: They made it more challenging. Right? If nothing else, they raised the bar or not raised the bar, raised the barrier.
David: Yeah.
Steve: Right? And so I think the point where I wanna go with this is that for those guys that are paying attention that aren't doing it, like, Devin is just giggling like a little school girl right now because his cost per lead Mhmm. Has gone down dramatically. Yeah. Because even though we've been talking about it for nine, ten months Yep.
All the people with that were like, yeah, it'll never happen. Yeah. He's the biggest player in the market now. Yeah.
David: Well, how long did Brewer talk about innovations before it really hit?
Steve: So I remember when I met him in April 2020
David: Yeah.
Steve: Sorry. I met him in I met him in 2020. This is the very first live event after, you know, this whole Mhmm. Boiler paper crisis situation. I met him in Florida.
So I wanna say maybe, like, June Yeah. Of twenty twenty. Somewhere around there. And I had him come on in August onto the podcast here. Mhmm.
And that's the first time the industry Yeah. Was aware of innovations. Right? Before that, it was only known inside of Collective Genius. Right.
Right? So we made it big in August 2020. Mhmm. And it wasn't until '22 Mhmm. When the interest rates spiked Yeah.
And novations took off.
David: Mhmm. Right?
Steve: So it wasn't until it was needed that it took
David: off. Right.
Steve: But They didn't
David: we didn't feel enough pain.
Steve: Enough pain. But Adam Devine, who's also been in the show, he crushed it
David: Yeah.
Steve: When the interest rates hiked
David: Mhmm.
Steve: Because he was prepared for it. Yeah. And same same thing with Devin here. Like, the fact that he has, his cost per lead has gone down Mhmm. And he's winning more appointments.
Mhmm. I think everyone is, like, watching right now. If you're not, at least considering it.
David: We have one of our very biggest clients at EZ that does that came through the installment method. They've got at least 20 open deals right now. Yeah. Like, they are absolutely crushing it. Now it's a little tricky in certain states.
Right? You know? It's something that it's it's, the process has to be a little fine tuned because some states have different laws. Mhmm. But it is it's a good strategy.
You you want it doesn't fit every every situation. No. But just like neither does sub two. Right? Neither does notations.
Neither does an assignment. But, you should definitely have it in your tool belt.
Steve: Yeah. So I think, if you guys are if you guys are paying attention Yep. If you wanted to be if nothing else prepared, you're right. I'm not saying buy it, but at least be aware of it so that you can turn around and do it Mhmm. When you need to do it.
Yeah. Anything else you're seeing out there as far as trends? Because, again, you get to lay your eyes Yeah. On a lot of closings, a lot of problems.
David: Yeah. Yeah. Fraud has definitely picked up. People who are not the owner trying to sell. And, you know, it's not just we do get the random person who signs a contract, who, you know, is not the actual owner a lot of times, and this is at least once a week.
It's one heir who's trying to screw the three other heirs. Yeah. Yeah. No. I'm the only I'm the only heir.
Wait a second. We're looking at the obituary. Who's Bob, Sally, and Sue? Oh, yeah. They're they're they're dead.
Yeah. So yeah. We're we're seeing a lot of that, and and that's something that we have to be very careful of. Right? We don't because, you know, not all of our clients are assigning.
We have a lot of our clients who are buying hold, bring bringing things into their own portfolio, and we want to make sure that we're protecting our client too and making sure that this is a legitimate transaction. And we have stopped stuff that a title company has said, yeah. We're ready to close. And we're like, yeah. Yeah.
Yeah. Yeah. Yeah. We're not like, we can't get this person on the phone. It's all text communication.
Like, it just doesn't something doesn't doesn't feel right. Mhmm.
Steve: Yeah. And, you know, I own I own the title company. Yeah. I don't have it anymore. I'm kinda bitter about it.
If you guys have listened to the episode, I have a call you about it. Right? Yep. I'm very angry with some people. Anyway, so I don't have that anymore.
But, where else is going with this? Title insurance.
David: Yeah. For
Steve: the most part, not really that important. For the most part. But then every once in a while, you sell a property
David: Yeah.
Steve: And the seller not the seller. The person pretending to be the seller Yeah. Fools the title company.
David: It there are a lot of things that cause title title claims. Yeah. Is is title insurance could you do without it? Have I done it without it? Yes.
Because it's a big expense, especially if you're if you're buying and holding. Right? I remember I was buying closing six properties in one day, and I did wasn't smart enough to combine them all into one transaction. And I had six transactions, six title policies. It was incredibly expensive.
Mhmm. Is having a good title search more important? Yes. I this is not don't call me and say, close this without title insurance because we're we probably don't wanna do it. No.
But things are never a problem until they are. Mhmm. And I had one of those. You know, I closed on this deal, and my my friend who ran the title company, they missed, a memorandum on a property. And I went to immediately turn around and resell that property for, like, $30,000 assignment fee, like or, you know, profit very quickly.
And the next title company, because it was the buyer's choice, they're like, oh, hey. There's this thing. You need to clear it off. I couldn't do it. I had to do a super quiet title.
Mhmm. It was I was pretty happy that I that I had title insurance that day to cover to make sure I wasn't gonna have to come out of pocket for all the legal fees.
Steve: Right. Yeah. Yeah. So $98.99, maybe or out of times out of a 100 or maybe 999 times out of a thousand. Yep.
You don't need title insurance.
David: Nope.
Steve: But the time you needed it Yeah. A large check.
David: Yeah. Do you wanna write a $4.05, $600,000 check to somebody and be, you know, hauled into court and be held liable and have everything you own Yeah. Leaned? No. Get title insurance.
Steve: Exactly. Yeah. So, yeah, you guys are doing any kind of creative, deals. Oh, let's talk about creative deals.
David: Yeah. Love them.
Steve: So you guys are doing creative deals as well?
David: We do every type of deal. So we will for we are the only transactions company that has closed deals in all 50 states. A lot of people say, I can close deals, but we have actually done it. We have the huts to prove it. And, you know, one of the things that was important as a real investor when we started this company three, four years ago is I knew that you were gonna come along, and you may, one, you may operate in West Virginia and do assignments.
But, clearly, there's going to be a day where you wanna do a sub two in Michigan Mhmm. Or a novation, you know, New Hampshire or whatever it is. So so we knew going in that we need to be able to handle for our clients, any transaction in any state. So, yeah, we do we do a lot of creative deals. We do work a lot with the sub two community, because we can we can do them very effectively and much cheaper.
But we also you know, Eddie Speed. I know he's been on the show. Mhmm. We love Eddie. We do all of his note closings.
So we do lots of
Steve: lots of note closings too?
David: Oh, Eddie. Yes. We we have two people in our office that are just dedicated in the title company to handling Eddie's deals.
Steve: Wow.
David: Eddie does a lot of deals.
Steve: Yeah. He's people don't give him the due respect that he deserves.
David: What I tell Eddie is when I was first starting out in 2002 at the Rios, he was running around on stage with much darker hair. That's that's yeah. Getting to be in his office for me was, like, kind of the same as being here. Like, a little starstruck.
Steve: Yeah. Eddie Eddie is so incredible. I've learned a lot from him.
David: Yeah.
Steve: As a matter of fact, you know, we we're very big fans of installment method. Yeah. I did one of those deals
David: Mhmm.
Steve: Before connecting with Devin and those guys because I've learned so much from Eddie.
David: Oh, Eddie Eddie I didn't mean to cut you off. I I've sat in his office and he and, you know, and he talks with an accent. But he starts he starts doing this deal and how they they they buy this property, and they buy it for a $100,000. But then they break up the the the seller finance payments into fifteen years, and they sell off, like, a fifteen year portion of the note for 99,000. And then they've got this other fifteen years, and they put it into an IRA account.
Like, I'm like, dude, I feel like I'm pretty smart and better than 95% of people in this industry, and you lost me. Like, I don't even know what you're it's so high level. It's crazy.
Steve: It's a lot of fun to listen to him. It's awesome. Because he also talks kind of fast
David: when he gets into it. Fast, Debbie.
Steve: Yeah. Yep. And so it's for me, it's exciting. Every time he starts, like, doing a deal breakdown, I was like, that's awesome.
David: Yeah. My head spins when we're done. But, yeah, following it, it's you're like, who thinks of this? This is incredible. Yeah.
Yeah. There's so many great ways to do deals. So if
Steve: you guys are wholesaling, innovations, installment, creative,
David: any kind of creative Any kind. Apps. All of them.
Steve: Or notes now.
David: Yeah. Notes. We do we do a bunch of notes.
Steve: Yeah. Yeah. So go to realestatedisruptorstc.com. Yeah. So what are you excited about right now?
David: Man, so we talked about this maybe a little bit last time I was here in the 2023. We're actually I was I had flown to Eddie's office, and we were having a meeting with him. And Heather, my COO, flew in, and we were driving back. And, you know, the the EZR it was really starting to grow. We were getting some some good traction.
And I said, you know, what what what other services could we provide for our clients? What what things could we do? Like, what are some maybe some add on things, right, you know, that we could do for our clients? You know? Notary service, lock changes, pictures.
Like, what can we do? We're driving back. It's a long ride from Dallas to Tennessee, and I said, no company. Mhmm. Are we smart enough to do that?
Can we do that? Like, surely, you have to be qualified. Right? You have to it's just so, like, any banana head can open a title company. And, she's so amazing.
She's immediately pulls out her laptop, starts looking for title companies for sale, and we were already getting paperwork on title companies, nationwide title companies that were for sale. And we really looked at that, and why would we wanna open a title company? Because everything that we do in our company, I'm trying to compress time for the investor. Right? How can I go how quickly can I go from the moment you get missus Smith under contract to the day you get paid?
Right? Mhmm. And we could talk a lot about title companies because they're, again, they're not all great. But how do I compress that time and get you paid quicker? If I can save save ten days, if you can go from forty five day close to thirty five day, what's that do for your cash conversion cycle?
It It's over the course of a year?
Steve: 20% cut.
David: Yeah. Right? So, yeah. So we we came back, and we we started talking. There were some there are a couple of title franchise companies.
They're they're not really great. Doctor Rob Wensley. He's like, don't do that. Mhmm. So we decided to open our own title company.
We brought in a partner, my friend Megan, who's amazing. She runs Key Title and Escrow in Chattanooga, one of the biggest investor title companies in the state. And we coaxed her into coming over and opening easy title and escrow with us. And the whole goal for that was to be exclusive just for our transactions clients so that we could make sure that we gave them the best service. And, you know, as a TC company, we have probably 400 and something partner title companies across the country.
And when we call them, they pick up the phone because we do a lot of transactions. In 2023, we did 2,202 files, $238,000,000 in closing. So, like, we're kind of a big deal. Right? I've had the VP for First American and Old Republic, like, in our office because they come to visit us.
So, anyways but still, even with all of that clout, they still suck sometimes. Right? They don't answer the phone. They don't get back to you quick enough. None of that.
So if I could have my own in house title company, right, that's literally just one of my coordinators gets up, walks down the hall, and goes Yeah. Hey. I got Steve's deal here. He's waiting on this. Are we are we clear to close?
Mhmm. Now what does that do? How does that compress time? Yeah. So that's what I'm excited about is opening our title company.
Steve: I can say for sure. Right? If you go out this door right here and you walk down the hall, that's where our title company was. Yep. They didn't always answer the phones.
David: No. Because Even though
Steve: Yeah. I was a partner, they didn't always answer
David: the phone. Terrible, man. Hurt your feelings, I'll bet.
Steve: Well, I was one I was a smaller partner in it.
David: But still a partner.
Steve: But they had a lot of retail deals, and my wholesale deals are not as important no matter who where I sit as their retail deals. Right. But when my TC opened up the door Mhmm. Walked over to the next building
David: Mhmm.
Steve: And was just smiled as she walked by the front desk receptionist and right into the escrow officer's office And
David: sat down.
Steve: Things got done.
David: It's amazing. Right? It's amazing. Proximity is power. Yeah.
Yep. So that I'm super
Steve: excited for you there.
David: Yeah. Thank you. It it's it was a big lift. Mhmm. And then, you know, again, to go back to investor mindset, you know, there were such goofballs.
It'll take ten minutes. Right? We can get this done. And Meghan came in, and she's like, nope. This is gonna take eight or nine months to get this up.
No. No. No. No. No.
We can do it in five. Mhmm. Because I can will this into existence because I'm an investor, and this is what we do. And she's like, yeah. No.
But happy to try Mhmm. You know, getting into the state of Texas, which we finally got approved last week. So we're fully licensed and ready to go in Texas. Eight months. Like, it's ridiculous.
For a state that's a bunch of cowboys, it was the most paperwork intensive place that we've ever everything is backwards in Texas. It was a struggle, but it's you have to be licensed there. It's one
Steve: of the biggest
David: in the country.
Steve: A bunch of cowboys, but I would argue Arizona is the wild West.
David: Oh, yeah. Oh, Arizona. We're licensed in Arizona. It was nothing. Like, yeah.
Fax us over a copy of your driver's license. We'll, you're you're ready to go.
Steve: Anything goes. We had a person come on the show here. I can't remember who it was, but he lost his driver's no. He didn't lose his driver's license. His he left his wallet in the Uber Mhmm.
And it was gone. And the great thing about Arizona is that a picture of your driver's license counts as driver's license.
David: Yes.
Steve: Yeah. So he had no problems going through the airport and boarding a plane.
David: Really?
Steve: But that's not true in all 50 states. Right. Right? So this is a wild west. Yep.
I like it out here. That's great.
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David: That's great. I do love it except it's, dude, it was like a 108 today. It's so hot.
Steve: Yeah. It's uncomfortable if you're under the sun.
David: But it's a dry heat. Right? Yeah. Listen. When I was here last summer, I rented this big house because we were gonna have some clients over, and I got here, like, 08:00 at night.
And it's a beautiful pool at this Airbnb.
Steve: 08:00 at night.
David: Yeah. It's great.
Steve: Oh, you got a pool?
David: Yeah. Well, I jumped in the pool, and I'm like, oh, it's gonna be so refreshing. I'm like, water was, like, 90 degrees. It was bath water. I'm like, this is not refreshing.
I'm getting out. Trick is
Steve: gonna get in and out of the pool.
David: Yeah. I get I guess that's the trick. Yeah. I don't know. No.
I do. I do. I remember you probably don't remember the first time we met. You remember?
Steve: I remember you coming here to visit once. No. Before that, though. Before that. Let's see.
Was it one of, was it Carlos or Robert's events?
David: Nope. So Brent Daniels. Mhmm. The event maybe, like, three years ago, we had everybody, and they were doing the toy drive. And you guys were all there for lunch.
Steve: Oh, yes.
David: So I showed up, and, remember everybody goes in the elf costumes, the whole thing.
Steve: With me.
David: Yeah. It wasn't me either. But, they tried to give me one. I'm like, no. And, and we met.
And, but, anyways, it was December like, the December. And and I said, this is the greatest place I've ever been to. It's brown, cool mountains. There's rock everywhere. Mhmm.
And you or Pace, somebody turned around and like, yeah, dude. This yeah. Come back in the summer. We go north to get out of this mess. I'm like, it can't be that bad.
Now it seems like all I do is come here during the summer, and it's and it's just brutal.
Steve: Arizona is awesome. Seven months of the year.
David: I love it. I I think it's great. I would one out of 10 buy a house out here.
Steve: We just have five months of summer.
David: It's it's it's warm. It's warm.
Steve: Anything else you wanna share that we haven't talked about yet?
David: Yeah. I mean, super excited, you know, growing easy, helping our clients. You know, we're we're always adding in, more value. Again, at the very beginning, I think I talked about this earlier, I had I had no idea that we were gonna end up having or wanting or needing to do all the things that we do. So now, you know, our clients, we do four coaching calls a month with them.
Right? So I kinda get my little you know, I get to do the coaching thing. Or Yeah. So we go on, like, four times a month. Two are with me.
You know, the other two, we bring in industry experts. Like, maybe we'll get to have you in there and talk about sales training or a CRM or, you know, be a Nicole Espinosa in to talk about short sales. So we're we're adding a lot of value there, you know, helping with additional paperwork, and just just as much training and a Facebook group and, you know, place where they can network with privately with our other clients. Just just trying to give them as much as we possibly can to help them grow their business because I want them to grow their business because the more deals they do, better for them, better for me.
Steve: Yep. Yeah. Perfect. Alright. I want anything about the last four is I'm gonna leave everybody with.
Yeah. Guys, again, if you guys got value out of this, please hit that subscribe button. Tell YouTube to tell more people. If you're listening on iTunes or Spotify, please give us five star review again so that we could tell them to share this with more people. And if you guys are interested in getting some TC help buying back your time
David: Yes. Go to
Steve: realestatedisruptorstc.com. Last words you'd like to leave everybody with.
David: Man, you know, when I look back when I look back and done a lot of great things. Right? I have a bunch of rental properties and all these different companies. You know, the thing that really stunted our growth or kept us from growing was and we I mentioned it a little bit earlier, was being the guy who had to do everything. You know, wearing that, you know, I'm a control freak as a badge of honor.
Right? It took me so many years and my brother. Like, everybody had that I knew said, you can't you can't do all this stuff. Like, oh, I can work sixteen, seventeen hours a day, and I had to get over that. Right?
I had to get over that. And once I did, once I started trusting people, bringing people in house and then outsourcing some of the things, like, you know, I should not have been doing bookkeeping.
Steve: I can't I can't tell you that. Yeah.
David: I can't calculate here. Balance a checkbook. Right? Accounting, property management, cutting grass. Like, these are all the things that I was doing.
I was doing everything. I was younger, skinnier, and had more energy back then. But, you know, once I started outsourcing those things to the people who were really the best, right, transactions included. Now I was able to focus on on the parts of my business that, one, got me out of bed in the morning, kept me jazzed up at night, and I'm staring at the ceiling because I was excited. But I was able to spend time in my business doing the things that I loved, working with my team, growing growing the business.
So that's the thing I I I tell people is, you know, don't make the mistake that I made. I was dumb. Like, you know, I was the guy who refused to bring somebody in to help me because I can do it all because I'm smarter and I'm better and, gosh darn it, I'm good looking too. Right? Like, whatever it is.
Right? So that that's the thing that I would caution people about is, you know, as investors, we fall into that trap really easily because there is something in your business that you're amazing at. Mhmm. You are world class at something, maybe two things. Not everything.
Steve: Yeah. Well and I think we all get caught up in the the hustle culture. Yeah. Right? You know, Jason Medley, one of the things he said here was I will out suffer you.
David: Which Same for me. I believe him. I will
Steve: You'll do it too. I will
David: go up against anybody, and I will die before I lose.
Steve: Yeah. I will I I'll I'd rather die than quit. Right?
David: Right. Luckily, we're not going up against each other. We're going to the rest of the mediocre banana heads out there, but, but that's why we're successful. Right?
Steve: Why we're successful, but also, you know, another expression I heard is that, you know, we'll catch you here, we'll get you there.
David: That's true.
Steve: Right? What can get you to Mhmm.
David: 10
Steve: houses a month, maybe even twenty, twenty five houses a month. Mhmm. Right? It's not gonna get you
David: Yeah.
Steve: 35, forty, fifty.
David: Yeah. You know, my friend, Tony Mont, great guy, now he just moved out here. He had he had a great post the other day, and I asked him if it was okay for me to to use this. He said, you know what? Doing that in your business, it's it's like having a band and trying to play all five instruments at once.
It's you're you're gonna be a great, you know, sideshow act, but you're you're not gonna be the Beatles. You're you're not going to get to greatness. You're not gonna get the gold medal. You're you know, because it's that that little bit. Right?
Like, what is it that the very best people are doing? You know? They're outsourcing. They're bringing people in. They're not running their own Google PPC.
Right? They're they're having somebody else do that. Somebody's doing their transactions. Somebody's doing their bookkeeping. Right?
And that's how that's how you build a a big a real sustainable business.
Steve: Exactly. Perfect. Someone wants to get ahold of
David: you, what's the best way for them to reach you? Instagram. Great. Instagram at David Olds, r e I. So David Olds, o l d s, r e I.
Yeah. Put a lot of content content out and do my very best to answer every post. Good, bad, or indifferent. Tell me all the bad things. I love to mix it up with you.
Steve: Alright. Perfect. Thank you so much.
David: Thanks, man. I appreciate having you back on.
Steve: Thank you guys for watching. We'll see you guys next time.
Speaker 4: Shout out to Steve train. Jump on the Steve train. Disrupt us.
