Wholesale Real Estate | What Steve Trang Is Doing To Adjust To The Market Recession?

Steve Trang: Jump on the steep train. We real estate disruptors. Hey, everybody. Thank you for joining us for today's episode of Real Estate Disrupters. Today, we have our very first solo episode of real estate disruptors.

You guys know we always like to do interviews. This one's gonna be a little different because I was actually not planning on doing an episode at all, to celebrate the holidays. Right? Taking time off, spending time with my family, but there's a lot of uncertainty out there right now. The market is a little tumultuous, a little interesting.

So I thought, you know what? Let me just share with you guys what I'm doing with my business, to address the recession for the next six to twelve months. If this is your first time tuning in, I'm Steve Trang, sales trainer. Every month, we help hundreds of people buy more houses at deeper margins. If you wanna join us on our training calls, DM me the word sales on Instagram, and I am on I am on a mission to create a 100 millionaires.

And, really, the information on this podcast alone is enough for you to become millionaire in the next five to seven years. If you will take consistent action, I promise you that you will become one. And today's show is brought to you by our investor company, Investor Lift. Get access to over 2,000,000 cash buyers across the country. Go to investorlift.com, put in disruptors to get 10% off.

And if you get value today, please tag from below. Share this episode right now. That way we can all grow together. And this is a live show, so please ask your questions for me to answer. Now here's the thing.

Right? I said this earlier. There's a lot of uncertainty out there right now, and totally, understandably. Right? And I'll kinda share a quick rundown as to how we got here.

But, you know, I was at Collective Genius two weeks ago, and my good friend, Gary Harper, I shared from the stage. I thought this was a great line. You gotta deal with reality, or reality is gonna deal with you. Right? Are you prepared for what's coming on?

What's up ahead? So, when we started this year, interest rates were at 3%, you know, still near historic lows. Not as low as as the, mid twos we were in parts of last year, but 3%, that's really, really cheap money. Right? If you're buying a house or you're doing a cash out refi, you're doing burst 3%, Those are phenomenal numbers.

But we started to see inflation kicking in. And our government had a decision to make. Do we wanna address inflation or do we wanna address a potential upcoming recession? And right now, at this exact moment, they're concerned about inflation. So what are they doing?

Well, on June 1, a little bit more than a month ago, the federal federal reserve says that they're going to stop buying mortgage backed securities. And what that means is that when you got a mortgage with Fannie Mae, Freddie Mac, right, you went to Bank of America, Wells Fargo, Chase Bank, whoever, you got a mortgage on your house. The Federal Reserve was buying that mortgage. Right? Well, they decided they're gonna stop buying those mortgages.

So what does that mean? Well, that's the reason why we start started to see interest rates go up from three to four to five. Right? They're they're changing their appetite for, mortgages. And so then after that, on June 15, just two weeks later, Jerome Powell says the housing market needs to reset.

Now when the Federal Reserve right? This is central banking. They're in charge of all the money. Right? By the way, there's unrelated government entity, but they control all the money, and they decide that, you know, that federal housing market needs a reset.

What's gonna happen? Well, we got a federal housing reset. So on that day, they decided to bump the federal rates 75 bps. What that means is right now for the banks to borrow money, it increased by point 75%. And what we saw immediately the next day was interest rates increased by half a percent to three quarters of percent for the end buyer.

Right? So we started the year at about 3%, and right now we're about five and three quarters. This is a very significant amount. Right? Going from three to 6%, a lot of people lost their purchasing power by about 10%.

So now we got this data. Right? This is, by the way, a few weeks ago, but when this happened, I'll share with you. I was a little anxious. I was a little uncertain.

I'm one of the most confident people you ever meet. I was, for a day, like, what the heck is is going on here? And I need to plug into my community. Right? And my community is Collective Genius.

So we go out to Collective Genius and, you know, we have Bruce Norris speak on stage. And Bruce Norris has predicted the real estate market successfully for the last twenty years, and he shared a lot of wisdom. And, the biggest thing was that of all the things that are gonna affect housing prices, really the biggest thing that's gonna affect it is if we ever have a foreclosure crisis, which we're nowhere near at the moment. So as long as we keep recession not terrible, we're not gonna have this terrible, recession with as far as, people losing jobs, unable to pay their mortgages, causing foreclosures. And right now, even if we had a foreclosure, everyone's got equity, so, like, they can just sell it with a realtor.

So what are we seeing right now with, you know, Jerome Powell and the Fed? Sellers are starting to sell because they think we're at our peak, which is an understandable concern. Right? So sellers that have houses that are more than one, by the way, not their primary home. People that have more than one house are starting to sell their home.

Right? We also have buyers freaking out because their purchasing power has dropped by 10%. And so what does that mean? Right? If these buyers that have been well qualified are now taking a back seat, what's gonna happen to demand?

Well, I can tell you what's happening in the Phoenix market. The demand has dropped, but it's not dropped significantly enough, to affect our market. Right? So we went from, a barometer according to the Crawford report of 95% of a normal demand. It went down to 89%.

So a small, small drop. Right? So, I wanna share with you guys real quick, and please ask your questions. I'm gonna answer all your questions, guys, in a in a in just a minute. But my biggest action I took from Collective Genius, is my friend Marcus Crigler.

He's the one that's, you know, handles our financial planning and taxes and so on. He says, we gotta get to a million dollars in the bank. Now I don't have a million dollars in the bank, which I did, which I had at any point in my life. Never been there in my life. But he says to get a million dollars in bank.

And what that means is if we need to beg, borrow, and steal, beg, borrow, and steal. Right? Like, do what you gotta do to get a million dollars in bank because we don't know what's right around the corner. It's probably gonna be fine, but we need to be in a position to weather the storm. So one of the things I wanna do is start, actively finding ways to get a million dollars in the bank.

So one of the pleasures, one of the benefits I have of of being a podcast host and creating content is I actually get to see what everyone's interested in. Right? I can see what's trending and so on. And here's what I've noticed. In the last thirty days, we've had 20,000 people watch my interview with Leon Johnson.

Right? The interview about creative finance and creative strategies, how to buy a house, with, sub two wraps, lease options, whatever. That is my number one training episode for the last thirty days. So 20,000 of you guys in the last thirty days have came across my page to watch a video with Leon Johnson talking about creative financing. I've also seen right behind that, my invest my interview with Robert Wensley in InvestorLift.

That tells me you guys are concerned about your buyer pool. Right? Maybe you've been selling to hedge funds, and, well, maybe you can no longer sell the hedge funds. I think Amherst, Roofstock, and, Tibor and a few other ones has stopped buying. Now will they start buying again?

I absolutely believe they're gonna start buying again. Right? It could be three months away. It could be six months away. But at the end of the day, they have to buy because they're in the business of buying houses.

So, but right now, that doesn't help you. So maybe you need to find some more buyers. So investor lift is my second most viewed, episode in the last thirty days. And my third most viewed episode is the one I did with Eric Brewer, my good friend, Eric. Right?

He, came up with novations, how to use novations in real estate. We call it the Brewer method. We partnered up to create the Brewer method. And so that is our third most viewed episode. Right?

So creative financing, how to find new buyers, and how to, acquire property and other methodologies besides just buying in cash. So I I appreciate that. Right? I mean, we got a bunch of people that are really smart, digesting the right content. And, just real quick, you know, I had a private conversation with Eric Brewer, I wanna say two, three months ago, and we were talking about this moment.

He's like, you know, what are we gonna do? And by the way, he is far much he's a much better operator. He's a much better business than I do. But he was like, you know, like, what's what are we gonna do? I was like, well, Eric, if things change, there's be there have been people that have been prepping for this storm for the last two years.

It's really easy. We stop selling to the people that are trying to buy right now, and we start selling to the people that have been prepping for the storm. So that's what we're gonna do right now. So, what are we gonna do as far as our team? Our acquisition strategies are gonna change.

So we've been doing cash first, really cash only, right, for our wholesaling team. That's what we've been doing for the last, four years is cash options only. Right? So what are we gonna do? We're going to be offering novations more often.

So we're gonna offer cash first and then novations. But if novations doesn't work, whatever doesn't if they can't turn into a deal, they gotta turn it in. And once they turn it in, I'm gonna talk to them. I'm gonna talk to the homeowner, figure out why cash didn't work, why novation didn't work. And at that point, we're gonna start pitching creative offers.

So that's option number three. Right? So cash first, then novation, then a creative offer, and finally, a realty referral. So that's how we're gonna modify our acquisition strategy, strategies. We basically need to come in with more than one option.

We're gonna come in with multiple options. Again, figure out what the situation the seller is in, what the ideal outcome looks for them, and then come in and offer cash, offer novations, creative offer, and finally, a realtor referral. Now that's probably not rocket or a a a revelation for you guys. Right? A lot of you guys may be doing that already.

But what is definitely gonna be changing is our disposition strategies. Here's the reality. Our flippers that we've been selling to, our our wholesalers and flippers that we've been selling to for the last two years, I mean, it's been really easy to sell. Like, our disposition guys didn't really have to work that hard to sell the property. I mean, our best disposition strategy is posting on Instagram.

Right? So it hasn't been that hard to sell the deal. But right now, Flippers' appetites have changed. When they were usually before, they were willing to pay 85%, sometimes as high as 90%. Now they're saying they need to be a 65 to 70%.

That's not gonna work for us as a business. Hard money lenders, they've changed their terms overnight. Again, totally understandable. I understand where the flip price is coming from. They gotta price their risk because they can't pay what they were paying before.

Of course, I get that. Hard money lenders, either their funding has dried up or you gotta put more down or you gotta pay more points. You gotta pay pay a higher interest rate. So hard money lenders are becoming, not as great of a partner as they were before. And, again, I totally understand where they're coming from.

And one of the things our disposition team needs to start doing is create relationships with different hard money lenders. Right? You find other people that we can partner and buyers with. We're gonna start reaching out to realtors. I think that, right now, as flippers and we don't really deal with as many buy and hold people in the Phoenix market, but, as our buyer pool or buyer appetite changes, we need to be more proactive.

We're gonna start reaching out to realtors. So, finding realtors that have sold homes nearby. Right? Finding the top realtors in the market, reaching out to them and offering them off market properties. Now here's the thing.

A lot of realtors don't wanna hear from investors like us. They really don't. And that's fine. Right? We move on.

We're gonna find the realtors that want to work with us, that want to hustle, that want to, do more business, especially in a market that's slowing down. So, that's one thing we're gonna be adding. The other thing is if a flipper needs to buy a property of 65% for it to make sense for them, they're not our buyer. So you guys have heard us talk about on our role plays, on our scripts, that if a seller says, I need you to pay this price, well, I'm not your seller. Right?

Or I'm not your buyer. Well, here's the same thing here. If you need to buy this house at 65% for it to make sense for you, you're not our buyer. And I'm gonna take those deals down myself. Why would I sell it to someone else's 65% and sit here while I'm really hustling really hard?

Right? Spending the money on marketing and so on, I try to sell this deal at 65%. For us to be able to sell a deal at 65% and make money, we need to be buying at 55, 60%. And I'm not saying it can't be done, but the deal volume, the number of deals we're gonna do per month is gonna change drastically, right, to the point where we might be out of business. So, for us, this is how we're gonna pivot.

We're gonna start taking deal, deals down ourselves. Now you might think, Steve, that's crazy. Why would you ever take deals down in a declining market? So I wanna deal with this because there's a lot of information out there that as a real estate professional, I personally find very aggravating. There's a lot of bad information out there.

There's a lot of people out there saying, like, we're we're crashing. Market's gonna come to a stall. Now am I gonna sit here and tell you the market's not gonna decline? I can't guarantee the market's not I cannot guarantee the market's not gonna decline. But what I can guarantee is that gonna decline 20% overnight.

Right? Something catastrophic would have to happen. Right? I mean, we're talking, like, Putin's gotta pull a nuke, in Europe for that to happen. So, at this exact point, I don't see the market going down 20%, especially since supply is still really low.

Supply in the Phoenix market is 14,000. Now there's been a lot of hoopla been made around, you know, the country. It's like, man, Phoenix added 5,000 new listings last month. That's a 50% increase from 9,000 to 14,000, and they're not wrong. But here's the thing.

I started the real estate business in 2007. When I was a realtor, when that was my only thing, there are 56,000 homes active for sale in MLS. This is not a big deal. A normal market is between thirty and forty thousand listings. We are still in a low supply, inventory market.

And at the end of the day, there are still people moving here to Phoenix every single day. One of the great things about Arizona is that people are moving here. So until that changes, Arizona, I don't see it going down. Could it go down? It's possible.

I just don't see it. So, again, Bruce Norris, he's he he he predicted every housing market up and down accurately for the last twenty years. I'm gonna put my faith in him. I'm gonna put faith in the data. I'm gonna put faith in the crop put my faith in the crop report who has accurately predicted the market for the last twenty years, and I'm gonna ignore everyone that's freaking out.

There's a lot of people freaking out, and I get it. Right? When we're unsafe or we're unsure, freaking out is totally understandable. And the best way to stop freaking out is to become more knowledgeable. Get more information.

Right? Talk to the experts. I am incredibly blessed. I get to talk to you on the phone to the number two title company, the owner of the number two title company in Arizona, the number one female loan officer in the country, and the data provider for the Phoenix market who writes the conference report, which I, you know, repeat every month. So I get to see what's actually happening.

So I'm not freaking out because I have the data to explain the direction we're gonna go. So, again, you know, they're, the flippers, they need to be at 65%. God bless them. They're not our buyers anymore. We're gonna start taking the deals down ourselves.

Now I do have something embarrassing to admit. I have done a really lousy job of raising private money. I don't have access to a lot of private capital. You know? I do have private capital, and they've been, wonderful partners for me, but I don't have enough to start taking down more deals.

So if you're listening to the show, if you like what we do and you wanna work with us, reach out to us. Send me an email, steve@disruptors.com, and just put in the subject line private money partner, and we can work together. Right? I am gung ho on this market, and I'm very confident in my team. I'm confident in our data.

And, you know, because we're also licensed realtors, we can save a lot of money selling a property. So, if you're interested in working with me and my team on our deals, send me an email, steve@disruptors.com, and put in the subject line private money partner. Let's partner on these deals together, and this is for people that are interested in real estate but don't want to do the work themselves. And here's the other thing. Right?

If you're uncertain, if you're feeling unsure about how to navigate this market, my first thing I would recommend to you is finding a tribe. Again, I said earlier, my tribe is Collective Genius. I'm also friends with, you know, Pace Morby, Brent Daniels, Jamil Damji, all these awesome guys in town. So I've got my tribe. I got people that I can pick up the phone and ask them what's going on.

So for you to navigate this market to feel confident, I highly recommend you find a tribe. Now I started personally in 2007. I've seen a lot of what's happened. I've got to experience this once before. And truthfully, this might you can't see it in my face, but I am beyond excited about this opportunity.

I've got unbridled enthusiasm. In addition, I'm getting mentored by Eddie Speed. Right? He's seen multiple recessions. He has thrived in uncertain markets, and he and I are working together.

Right? He's mentoring me on how to navigate this market as well. And, you know, I partnered with Eric Brewer to do innovation. So if you have a tribe, perfect. If you don't have a tribe, find one.

And if you don't have one, well, I personally want to help 10 people navigate this upcoming market recession, uncertainty, inflation, and so on. So if you're unsure about how to proceed, send me an email, steve@disruptors.com, and put, navigate the recession. Right? Again, we're only looking to work with 10 people. If you're interested, send me an email.

Again, steve@disruptors.com, and, you know, we'll see if it makes sense for us to work together. So, let's go ahead and jump to these questions here. Alright. So the first question is on YouTube from Ahi, I assume. Hey, Steve.

I'm finding a hard to lock wholesale deals lately. What's your advice? Well, again, this is the problem we're having at this exact moment. People the homeowners we've got this delta. Homeowners are either realistic or less than realistic, and they're super optimistic.

Right? And we have buyers that are really pessimistic. And, again, all understandable because there's a lot of uncertainty. But if you're dealing with a seller today, you've got to, a, come up with more options, or, b, market more to find the motivated seller. So, if oh, and by the way, we'll just take a step back real quick.

What we're finding right now, there's two different types of sellers. Right? We got sellers that are totally realistic, and those, you can be able to buy at a lower price. You know? Carlos on my team, he's locked up too in this past week where we're able to buy below 70% of market value.

Right? But those are not as common. Most of them want more. We want 75, 85%. So in those instances, you could, offer them novations.

You can offer them creative finance, or you're gonna have to market more. The other thing too is, you know, there's there's, what's the word I'm looking for? There's, you may you may need to brush up on your skills to to to market you know, to lock up more contracts with homeowners. And you know what? I apologize.

So I brought up this board over here. So we did we did an event, disruptors blueprint, last month. And in that event, we've covered, a whole wide range of topics. Right? So we talked about disqualifying leads.

We talked about how to run your business from, lead gen to closing the deal. We We talk about recruiting and managing, exit strategies, having multiple exit strategies when you're doing your deals, hiring VAs, how to deal with novations, reviewing your p and l's, your finances, your balance sheets, dealing with marketing, drip campaigns, compensation. How do you compensate the people on your team? Time management. And, man, I I can share with you.

When I first started in real estate, time management was a massive struggle. So we talked about time management, how to run your business effectively. I mean, I run multiple business, four or five businesses in parallel. I share with you guys how I'm able to run multiple businesses, at a high level through a time management. KPIs, which KPIs to to track, how to do creative deals, how to raise private money.

Talked about price, you know, how to overcome the price negotiations, how to talk to a homeowner when there's other third party members involved. Right? If they got a sibling that's in a different state, if they got a spouse that can't make it, how to have an effective follow-up process, how to demonstrate credibility before you go to the appointment, talking about branding, and talking about, you know, your accountability chart. So those are all things that we covered, at our last event. That was two and a half days.

But if you're struggling with any of that, again, we're looking for 10 people that we want to work with, that want help navigating this market. And if you think those things will help you, again, send me an email, steve at disruptors dot com. So going back to other questions, how do I talk to sellers? You know, I I I hate, you know, to to keep plugging my own product, but, you know, we do have a sales training program. So if you go to disruptors.com/salesdisruptors or slash sales master class, we have a full blown curriculum.

So, August, I wanna say seventeen, eighteenth, we have a day and a half in my office to go over how to effectively, talk to homeowners. Yeah. So some someone said deal deal a lot, deal deal twenty fifteen helped you a lot, gain connections. So that's awesome. Appreciate that.

What was the Bruce guy's name? It was Bruce Norris. And this guy, man, like, to accurately predict the market for the last twenty years, you think he's doing well for himself? So, yeah, Bruce Norris. Is this Eddie Speed from Mississippi?

No. This is Eddie Speed from Dallas, Fort Worth, Texas. So I understand Mississippi. Mississippi Leon Johnson is probably who you might be thinking of. But Eddie Speed is in Texas, and the guy has done 50,000 plus transactions.

Do you think it's possible he can teach us a thing or two by navigating this upcoming market? Julian, I'm from the Bay Area. Let's say house prices do significantly drop. What will be the best list to pull? What is the best list for you right now?

So our best list right now is still Audantic, a u d a n t I c. We our our highest margin per deal is from Audantic. Now it we don't get the most deals from Audantic, but the deals we get from it far exceed, everything else. And then if prices do drop significantly, what's the best list to pull? Man, I mean, the people that have listed their homes for sale before expires and cancels, probably a good place to start.

Right? Because they had to sell. Beyond that, you know, it really for your market, I can't say for sure. You know, the code violations worked really well. High equity, out of state leads have worked really well.

But for us personally, again, Audantic is the best. What is the best real estate school to sign up for? Any will do. This is gonna sound terrible, but, most real estate schools are absolutely worthless. I'm a licensed realtor.

Right? So that sounds crazy. Again, I got licensed in 2007. The real estate school you signed up for is not to help you prepare for real estate. I literally learned only one thing that was useful for me, when I went through my 18 classes, right, ninety hours of real estate school.

The only thing I learned was that inspection period was ten days long. That's it. Right? An acre is 43,560 square feet. That's it.

I didn't learn anything in real estate school that was actually helpful for me as a realtor. But here's the funny thing. The things I learned in real estate school have actually helped me become a better investor. Right? Like, we learn things like joint tenancy, you know, how to negotiate certain, what's the word I'm looking for?

There were just other real estate scenarios that as as you understand real estate from the from the school are actually applicable on how to do deals creatively. But it actually doesn't help you at all become a good realtor. Where do we find buyers nationwide? Investor Lift is really the best way to go. So investorlift.com put the coast disruptors to get 10% off.

So, please, guys, like, ask your questions. You know? I don't normally do a lot of q and a's, but it's important to me. You know? Like, right now, this is the time where a lot of people are struggling.

I truly believe that by the end of this year, half of the wholesalers or more will be out of business. It's been a great ride, right, for the last couple of years, with COVID money. Like, we were getting free money from the government to stay home, and you could do whatever you want with that money. There were no strings attached to it. There was it was not a loan or anything like that.

And with that, a lot of people are able to get into wholesaling, which is fantastic. But if you have never been in a market that's slowing down, if you've never been in a market where buyers and sellers are changing, I think, you're in for an interesting ride. Not a bad ride, because remember, I lost everything in 2007 through 2009. Right? Like, I shared a few times before.

I mean, divorce was a word that was shared around the household. Right? It was a bad, bad time. I literally lost everything. I was worth negative multiple 6 figures in that time, but I was able to make it.

Right? I was able to survive. And part of that was some of the mentors I had along the way. So, you're in for a bumpy ride. It's not the end of the world, but if you have no one to support you, it could be really challenging.

You know, there's gonna be times where, you are are dealing with something and you just need someone to just kinda point you in the right direction. You'll save countless hours, days, weeks, maybe months. Right? Maybe it'll avoid you from making an expensive mistake. It could also be you're really down on yourself.

You need someone to pick you up. You want someone to kinda show you, like, there is a way through this. There is a bright side and accountability partner one way or another. And, again, it doesn't have to be me. It can be anybody.

It's just I cut my teeth through the first recession. So, find someone that can support you along the way. Audantic. Yes. A u d a n t I c.

I think audantic.com is really just all you need to go. How do you plan on finding the mom and pop buy and hold buyers? Thank you, Chris. Really appreciate you. I I don't know if we can find the mom and pop buy and hold buyers, in any particular strategy.

Again, my strategy, because the flippers' appetites have changed so much, is I'm gonna take the deals down myself. Right? I'm gonna get a private money loan, and I'll close on it myself and listen to MLS. Right? Like, why should I subject myself, to someone else who's making fear based decisions?

Or maybe not fear based, but less risk adverse decisions, and they they can't stomach the appetite of this market, I'm not gonna subject my team, my business, my livelihood to all that and go after it myself. You know, you guys might have seen me post this on, Facebook and Instagram a couple of weeks ago, three weeks ago, I think, right, when Jerome Powell made those announcements. There's a book written by Gary Keller, the guy that owns Keller Williams. He wrote a book called Shift. And in the book Shift, he talks about times, wealth is made when the market shifts.

When it's a steady seller's market and it's a steady buyer's market, the market's the market. Right? If you're great, you're gonna keep doing great. If you're awful, well, you're gonna be awful. Right?

But in the shift, this is when the tides change. This is when you have the opportunity to create wealth. And, again, I am beyond ecstatic for the opportunity and maybe, you know, the 10 people that decide to work with us. RealJake Arnold jumped to wholesaling house wholesaling full time. That's awesome.

Congratulations. You know, if you don't have a a a partner or someone not a business partner, but someone to work with, someone to squad up with, I highly recommend you do that. What's your way of pitching notations to a seller? So Eric Brewer is a genius at this. He is the best.

And if you guys decide to partner up with me, like I said, 10 people, we're gonna include the novations training within it. But at a very quick level, I would say, hey. You know, the kind of the price you're looking for, that's not a price I can pay. But tell you what, if you can give me a little bit of time, if you can give me a little bit of access, I may be able to get you that that figure. So if I can get you that figure, will you be okay granting me a little bit of time, a little bit of access?

At a very high level, that's what pitching novations is. And the the pitch in novations is not the hard part. Right? It's not easy, but that's not the hard part. The challenging part of novations is navigating the title company, navigating attorneys, navigating the other realtor.

Right? Navigating the payoff. So if you guys are interested in that, you can go to brewermethod.com, buy us directly, from, Eric and myself. Or if you're looking to someone again to help you navigate this market in the next, six to twelve months, send me an email, Steve with Disruptors. And then if you decide to work with us, we'll include, the brewer method, novation's, course in there as well.

So, you guys have any other questions? I'm happy to answer it. You know, this was not intended to be a pitch fest. It may come across as a pitch fest. You know, times are interesting.

The the market is shifting. Do we know exactly where the market's gonna go? We don't. But what do we know? We know what what what the data is today.

We know what the data is this morning. We know that, people need a place to live. So and so people are losing their jobs because the recession, I personally believe that the market will, at a bare minimum, stay even and keep par with inflation. So I don't see any other questions here. I hope this was valuable for you guys.

If it was valuable, please please share this with other people. You know? I want other people to get the benefit, to to maybe learn some of the lessons I learned along the way. You know, don't have to go through the hardship that I went through. You know, like I said, losing everything, talking about, you know, divorce, like, that was a terrible, terrible time.

So where do I see acquisition business in the next five to ten years? You know, Austin, that's a very interesting question. I don't think, wholesaling personally is gonna be here in five to seven five to ten years. I think that wholesaling is probably gonna be illegal in the next five to ten years. Not because I believe that's the right thing.

I just think there's just too many regulations along the way. You know, I think there are too many things coming down the pike. There are people that are doing wholesaling in, in a less than transparent manner. So I think there's gonna be some challenges. So I personally believe that, wholesaling may be illegal in five years, but it's not the end of the world.

Because you know what can never you know what can never be illegal? Flipping, being a realtor. Right? Offering other options, novations. So if you can progress and evolve with the market, you're gonna be okay.

But if you're only gonna wholesale and that's your only strategy, you might have a hard time, tomorrow, in the next, few years. And then, what book have you recommended the most? You know what might be a timely book right now? I would say probably Shift, like I said earlier, by, by Gary Keller. The Road Less Stupid by Keith Cunningham has been one of my favorite books.

And then we just had Larry Yatch on the show a couple of weeks ago, and he was at how leadership actually works. And, man, like, that guy has impacted my business so much. The business principles of I'm starting a business. The leadership principles we learned in that book have been monumental so much in fact that not only is he coaching my leadership team, we're also specifically coaching our right hand integrator. We have a coach for our wholesaling company, and we have a coach for our media company.

Like, we got a whole bunch of, like, seal level people coaching my entire organization. So how leadership actually works? Start there. Read that book. I think it'll blow your mind.

What is my superpower? I always figure it out. We'll always make it through. I say that no matter what kind of adversity I face, we're gonna conquer it. We're gonna crush it.

And the reason why is because we always figure it out. It might not be the most elegant solution. It may not be the most attractive solution, but we're gonna figure it out, and we're gonna dominate. How are you leveraging the fear in the marketplace in your acquisition process? You know, fantastic question, Chris.

So if I'm talking to a homeowner, I'm not gonna tell them, hey. Like, we got all this inflation, and we got this recession, this and that. That is something that we would a younger version of me would have been like, hey. Like, this is why you need to take the low price, because market's going down, buyers are freaking out, interest rates are going up, like, prices can go down. Right?

And we we would just vomit all this information on the homeowner, And as a result, they would ignore us because we're salespeople. So now I would say, hey, Chris. You know, like, with the interest rates going up, you know, the a lot of, mortgages going from 5% or 3% to 6%, you know, from beginning of this year to this year. Right? So knowing that a lot of buyers' purchasing power has dropped by 10, how do you think that's gonna affect the market?

And all we're doing was asking leading questions, letting them fill that void, having them explain to us that buyers being unable to buy right now will bring the prices down. Now it's their data. And now that it's their data, they're gonna understand why we need to pay less. Right? So if I were to insert doubt, I would just lead with the facts and ask them how what what they think about it and how they feel about it.

So those are the two things I would do if we're going to, try to get those questions. And, Melanie Sanders, thank you so much, Melanie. You're awesome. Melanie is a good, good friend of mine. I met her through Craig Proctor coaching, and, man, she's another monster.

So, thank you so much, Melanie. It means a lot to me. Julian on YouTube, I also have a hard time finding good data. What's your top three companies for pulling lists? So we work with for data, we work with three companies, four companies.

Right? I mentioned Audantic. I mean, five companies now. Audantic, Investor Machine, eighty twenty REI, Batch Leads, and, Investor Lift. Those are our five companies.

Investor Lift is for buyers, but the list that we pull. Right? So and, again, you know, if you guys want to understand all the data that we pull, how we pull data, process and and so on. Right? We are looking for 10 people who are interested in working with us to navigate this crazy market they're about to enter into.

How are you liking Reel thus far? I'm liking Reel, but for different reasons than you might enjoy or you might imagine. I don't have to deal with broker stuff anymore. So I love Reel. They did for me exactly what I needed.

So I was able to cut down my expenses, keep my revenue, reduce my overhead. It's fantastic. Austin says massive value in his life. Thank you so much, Austin. I do appreciate that.

You know, like I said, I was not supposed to record today, but there's so much interesting things going on. And it sounds crazy, but I really do wanna see everyone here win. I know it's impossible for everyone to win, but I really want my tribe to win. So I wanna give as much value as possible, help you guys as much as possible. IG helped me disbow a deal in Greensboro, North Carolina seeing that you have investor lift.

So the best way, I apologize, for, disbowing a deal is you gotta send an email to deal@maxcashoffers.com. Bino is our dispo guy. He can help you disposition a deal in Greensboro, North Carolina. And then I forgot, we do have a couple of things for you guys. We do have tools, a list of tools that we use.

So we created this, not that long ago, disruptors.com/tools. Literally has an access or a link to every program we use, every tool we use to run our companies. We also have the assessment on disruptors.com. If you have not taken the assessment on our website, I highly encourage you go to disruptors.com. Take the assessment.

It'll tell you what phase you are in your career and what tools may be helpful for you, for this, season in your career. Julian, for someone who has been success with wholesale for the last year, what's your advice and how should I adapt? Find a tribe. Right? That's what I was saying earlier.

Find a tribe. It doesn't have to be me. It could be any tribe. You know, if you wanna be one of the 10 with us, great. We'd love to have you.

But if not us, find a tribe, find, you know, Pace. Right? And Jamil and Brent, they're always saying squad up. Find a community that you can, work with, collaborate with, bounce ideas off of. You know, again, I have a couple of tribes.

Right? I got the Collective Genius tribe. I've got the Phoenix tribe. And I also have my accountability partner who I have to meet with, once a week I'm sorry, once a month. And that guy, you know, he's trying to sell his company for $80,000,000.

So, like, that's a pretty good accountability partner. So find someone that you can network with, communicate with, bounce ideas off of, and also offer emotional support. What's my email again? Steve@disruptors.com. D I s r u p t o r s, steve@disruptors.com.

So let me just share a couple of things before we wrap up here. Again, guys, if you found this valuable, tag a friend. Let them know about this. Share this episode. Comment below.

Like, the more we can get this information out there to the masses, the more people we can help. Again, hopefully, at least minimize the damage in this upcoming market. We do have part in the disruption tomorrow. So we got myself, Eric Brewer, RJ Bates, Chris, Chris Jefferson. And, basically, we rag on each other for an hour, but it's a good show, and we're gonna be debating, I think, interesting topics.

Then we have a bonus episode this coming Friday. I shared with you guys. I am friends with the number one female loan officer in the country, Lizzie Hoefer. She's gonna be here on Friday at three Pacific, 06:00 eastern. And Tina Tambor, she writes these Crawford reports.

Right? Like, I get to read these. I get to get credit for this, but she's the one that actually comes up with all of this. So she's gonna be there as well. So we're gonna have the number one data scientist for real estate and the number one human loan officer in the country, and we'll be talking about what's going on in the market.

And then again, steve@disruptors.com. If you wanna work with us, if you wanna attend, send me an email. And then we do have our, all day sales training next month, in August. Go to disruptors.com/salesdisruptors. Check that out if it makes sense for you.

If you're having a hard time navigating, the the the sales conversations, if you're if you're missing any deals, if you ever seen a deal come across your email that you met with the homeowner, if you ever got, I need to think about it. I need to sleep on it. I need to pray on it. If you're ever getting this and you're walking out of the house without a contract, you can't afford to not come. Right?

For us, for what we're doing for $3,000, I promise you, you're losing a lot more than $3,000. If you've never been, I would say you're costing yourself a lot of money. So, before we wrap up again, I just wanna share with you guys. I'm hoping that, you know, the information I shared here was helpful. Right?

I'm changing my business from modifying multiple things to conquer this upcoming market. Taking the lessons I learned from the last recession when I got my teeth kicked in from 2007 to 2011, taking the lessons from other geniuses that have gone through multiple recessions. Right? I mean, I got my tribe again at Collective Genius. I got my tribe in Phoenix, and I'm getting mentored by Eddie Speed.

So, if you want or if this information for you was helpful, you know, please share it because I really do wanna minimize the damage that's gonna affect our industry, your business, like, you and your business first and foremost, because you're not being taken care of. You can't take care of anybody else. Right? If you're trying to create a legacy, if you're trying to quit your job, if you're trying to, make it, you know, to prove somebody wrong, you know, that might sound crazy, but that was my that was my deal. I wanna prove everyone wrong.

Whatever is going on, if you can't protect yourself if you can't protect yourself your family, it's been really tough. Right? So I hope this is helpful for you. And if you if it was helpful for you, please the cost here was to just share this with somebody else. And then I'll see you guys tomorrow for part of the disruption and Friday for a special episode for our market update.

I'll see you guys later.