Show Summary

While many know that the Arizona real estate market was body slammed a few years ago, most don’t realize that savvy investors were buying as quickly as they could. Given the staggering about of Foreclosures, the auctions have been red hot, especially if you know what you’re doing. Spencer Caldwell does, and his firm has helped investors purchase over 7,000 houses at the auction over the last few years. He and his partner have also built up a 200 agent brokerage, a high volume property management business, and more. There are tons of great lessons to be learned in this episode, and Spencer lays it all on the line. Great show…don’t miss it!

Highlights of this show

  • Meet Spencer Caldwell, high volume auction buyer.
  • Learn about what it takes to be successful buying properties at auctions.
  • Hear Spencer’s story from pig farmer, to prospective dentist to high volume auction buyer and surging real estate broker!

Resources and Links from this show:

Listen to the Audio Version of this Episode

FlipNerd Show Transcript:

Mike Hambright: Welcome to the podcast. This is your host, Mike Hambright. On this show, I will introduce you to VIPs in the real estate investing industry, as well as other interesting entrepreneurs whose stories and experiences can help you take your business to the next level. We have three new shows each week, which are available in the iTunes store or buy visiting So without further ado, let’s get started.
Hey. It’s Mike Hambright with Welcome back for another exciting VIP interview, where I interview some of the most successful real estate investing experts and entrepreneurs in the industry to help you learn and grow. Today, I’m joined by Spencer Caldwell. He’s an Arizona real estate investor that specializes in buying houses at the auction, generally on the behalf of other clients. In fact, his company has purchased over 7000 houses over the past 7 years at auction. It’s a fascinating model. It’s a fascinating business.
I know there’s a lot of people that are intrigued by buying at the auction. So we’re going to lay it all out today. Spencer is going to lay it all out for us. Before we get started though, let’s take a moment to recognize our featured sponsors.

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Please note, the views and opinions expressed by the individuals in this program do not necessarily reflect those of or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions as real estate investing can be risky.

Hey, Spencer. Welcome to the show.

Spencer Caldwell: Hey. How are you? Thanks for having me.

Mike Hambright: Good. Good. I’m sorry?

Spencer Caldwell: Thank you for having me.

Mike Hambright: Yeah. Yeah, thanks for being on. For those that don’t know, I normally record these shows earlier in the day. We’re recording this a little bit later in the day because Spencer had an auction to go to. I know we’re going to talk a little bit more about it. The fascinating thing, to me, has been . . . In Texas, for example, where I’m at, auctions are one day a month in every county in the state, as you know. In Arizona, they’re Monday through Friday. Right?

Spencer Caldwell: Right. Correct. Yeah, the major county here, Phoenix, Maricopa County, Monday through Friday, and a lot of the other side counties too, but Maricopa County, Phoenix greater area, yeah, every single day, Monday through Friday. So it’s a lot of work.

Mike Hambright: They keep you hopping. Yeah.

Spencer Caldwell: Yeah, I don’t know what’s better, having it one day a month or spreading it out.

Mike Hambright: I know. Yeah, I was kind of thinking about that too. There’s pros and cons, I guess.

Spencer Caldwell: Yeah, there is. It’s probably a volume basis.

Mike Hambright: Yep.

Spencer Caldwell: Maybe there’s some more cleanup to do here in Arizona than other states. So they do it every day, but traditionally they’ve always done it every day.

Mike Hambright: Okay. Okay. That’s interesting. So hey, before we start talking more about the auction, for those that don’t know you, talk a little bit about your background and kind of how you got into this, and then how you’ve evolved to where you are now. I mean, I know you also have a huge brokerage with 200 agents and a property management business and some other things. Just kind of talk about . . . Tell your story a little bit.

Spencer Caldwell: All right. Great. Great. So my intention, growing up, never was to do real estate. It wasn’t something I loved in early childhood. I randomly had a friend in high school that had a dad as a real estate agent and told me I’d be a great real estate agent. So I’ve always kind of remembered that, but I had no dreams of doing it.
I grew up on a pig farm in northern Arizona, in Snowflake, one of the largest pig farms in the world. My grandpa had up to 80,000 pigs at one point.

Mike Hambright: Wow.

Spencer Caldwell: So I grew up on a farm and learned a great ethic, great work ethic, and just learned how to work hard on the pig farm. I moved to the city when I was 14 years old, and things changed, now off the farm and in the city life, went to high school in the city life. Then I went to college and studied biochemistry. I wanted to be a dentist.

Mike Hambright: Okay.

Spencer Caldwell: I had all of school paid for, my four years, and was basically headed out to dental school. I wanted to work for a year before I left. I had an uncle at the time, a great real estate mentor of mine, that came to me and said, “Hey, I’ve got a great opportunity for you to work here and save up some money before dental school.” I said, “I’ll take it.” So my plan was just to go work there a year, and this is ten years ago, and I’ve never ever got out of real estate since.

Mike Hambright: Okay.

Spencer Caldwell: So I’ve been in real estate ten years and just loved it. Since then, I’ve . . . I was married 13 years ago, and I’ve got four kids. So life goes on.

Mike Hambright: You got your hands full. Yeah.

Spencer Caldwell: Yeah.

Mike Hambright: So talk about how you got into the auction business. I mean, obviously there have been, like you said, maybe a little more cleanup in Arizona. I mean, is it just kind of the opportunity that fell in your lap? Talk about how you went from just the typical agent business into the auction business.

Spencer Caldwell: Right. Actually, [inaudible 00:05:31] pull up the very first property on the very first day that we bought it, because there’s a little story to it. So basically, my first three years in real estate was very a booming time, starting in 2004 in Arizona. A lot of out-of-state investors, mainly it seemed like California, were coming to Arizona to buy properties. In fact, the first firm that I worked with at my uncle’s . . . I think we went from managing 300 or 400 properties to over 2500 properties, just from out-of-state buyers within a two-year period.

Mike Hambright: Wow.

Spencer Caldwell: From ’04 to . . . Two, three-year period.

Mike Hambright: Wow.

Spencer Caldwell: So there’s a lot of people buying. So that was just retail market. There wasn’t auctions. So obviously, in most markets in the US, especially here in Phoenix, a lot of people bought, and they bought wrong. So the auction starts.

Mike Hambright: Yep.

Spencer Caldwell: So I’m looking here. The first one was in 2008, right at the end of 2008. But anyways, I had a friend of mine, also a neighbor, come to me, and he was a builder. He basically said, “No one is building . . . ” He’s a custom home builder and spec builder.

Mike Hambright: Yeah.

Spencer Caldwell: He isn’t like one of these national big builders, just building homes, sell it, flip it. He came to me and said, “There’s a lot of properties that are going to auction these days. Either you get down there, Spencer, and start bidding on properties for me and buying them, helping me buy these, or else I’m going to go by myself. Do you want to help me?” I said, “Oh, yeah. I’m in.”

Mike Hambright: Yeah.

Spencer Caldwell: I love the fast pace. I love the quick pace. I just love it. That’s what auctions are. I mean, it’s very . . . The moment you wake up, you are running 100 miles an hour until the moment you go to bed.

Mike Hambright: Yeah.

Spencer Caldwell: I like the fast pace.

Mike Hambright: Yeah.

Spencer Caldwell: Volume. So I went down there. I’m looking at my spreadsheet, and it was a property actually in Clean Creek, on Red Rock, that we bought. The property was $95,000 that we bought it for, and that property today has probably got to be worth close to $200,000. You know? It was bought at auction close to seven years ago. So anyways, kind of exciting. That’s how I got thrown into the auctions, and it’s been fun ever since.

Mike Hambright: Yeah. Yeah. I know you’re . . . You got to be one of the largest auction buyers around, buying that type of volume, 7000 houses in the last seven years.

Spencer Caldwell: Right. Right. Yeah. So we have purchased right around 7000 in the 7 years. There’s quite a few people that buy at auctions, but we like to look at ourselves as probably buying some of the . . . more properties than anyone in the past time.

Mike Hambright: Yeah.

Spencer Caldwell: We buy a lot of properties. I mean, trustees sales are exciting, and we help our clients. So yeah.

Mike Hambright: How do you form a specialty in that area, kind of what keeps people out? What is it that you guys are good at that maybe others aren’t?

Spencer Caldwell: Oh, yeah.

Mike Hambright: Why would somebody want to be in that business? And how would they do well at it, I guess?

Spencer Caldwell: Great. Great. So what separates me from others, like you said . . . Basically, auctions are just a fast paced game, and it’s really . . . The part-time investors it works for, if they’re super smart.

Mike Hambright: Yeah.

Spencer Caldwell: But it’s more for the full-time guys. So I’m a full- time real estate guy. So I can focus on it full-time. But unfortunately, a lot of my investors aren’t full-time.

Mike Hambright: Yeah.

Spencer Caldwell: They’re just part-time guys. They’ve got jobs. So they need to rely on me. So we’ve got a way to track all these auction sales going to sale. You know there’s 12 major trustees in Arizona, and you’ve got to track them. There’s just various methods that we use to track the data. So we’re great at tracking the data, number one. We compile that data, and we send it out to our clients.
We just don’t send you, “Here’s all the couple hundred homes that are scheduled to go to auction today.” We send one email the night before auction, and it has three attachments. On those three attachments, you have a bulk list, which is all the properties going to auction, but a lot of them don’t have an opening bid. So if they don’t have an opening bid, they’re going to postpone or cancel.
So in the auction business, when you first get into it and you don’t know that there’s a lot of postponements or cancellations, you can get frustrated, but that’s just life in the auction business.

Mike Hambright: Yeah.

Spencer Caldwell: No big deal. Sometimes a house can postpone for a year straight, and then it finally sells.

Mike Hambright: Yeah.

Spencer Caldwell: So no big deal. It’s volume. So that bulk list, and then in that one email, there’s a condensed list, which is all the properties going to auction with an opening bid. But the problem is, sometimes, these banks are protecting the note. They open it up at $100,000, and it’s only worth $50,000. So one motivation or another, they’re going to take the property back.

Mike Hambright: Yeah.

Spencer Caldwell: And it doesn’t make sense. So we create a pick list. I’m not saying that they’re Spencer’s picks. They’re just saying that these properties have potential value or room or profit on them. So most of our clients don’t open the bulk or condensed lists, and they’re looking . . . unless they’re looking for something especially that’s not on the pick list. Like, “Hey, I know this property on my street is going to auction. Why isn’t it on Spencer’s pick?” Well, probably because it doesn’t have an opening bid yet, it’s going to postpone, or it just doesn’t make financial sense.

So when our clients open up the pick list, it lists all the cities. Let me just look at it right here. Our pick list comes with the time it’s going to auction, because auctions happen at 10:00, 11:00, 12:00, 12:30, and 2:00. There’s some random times in between. It’s not important. We track that for you.
It produces the opening bid, which is the opening bid. A lot of clients say, “Well, I want to buy it under that.” Well, too bad. The opening bid is the opening bid. Okay?

Mike Hambright: Yeah.

Spencer Caldwell: We provide an address and a city and a bunch of other data that’s not too important. What’s important is we have a couple of value fields, where we put some value to it. But we use Zillow and tax comps, which are closed comps.

Mike Hambright: Okay.

Spencer Caldwell: But if you really want to get specific, I would suggest that you ask me or one of our real estate agents what they have sold a property for in that neighborhood before . . .

Mike Hambright: Yeah.

Spencer Caldwell: . . . rather than us going off Zillow or just some random tax comps. You want to know what you can sell a property for. That’s very important.

Mike Hambright: Sure. Sure.

Spencer Caldwell: So we produce all this important data. That sets me apart. Excuse me. Another thing is we answer our phone and our text message. I mean, I can’t remember the last time that I turned my phone off. I did for this interview [inaudible 00:11:57], but auctions are over with. So it can wait. Right?

Mike Hambright: All right.

Spencer Caldwell: There’s nothing going on. Auctions are totally over for today in Arizona.

Mike Hambright: So clients essentially say, “Hey, I want to buy. I’m willing to pay up to this amount,” and then you go bid on their behalf.

Spencer Caldwell: Correct. They’ll communicate with me through calling me or emailing me or texting me. They literally, off this list that I produce and send to them on email, they literally send me a text and say, “I like this address for this much.” Then we go represent them and do our best to buy that property at that price or under.

Mike Hambright: So what do you do in the instance that you have multiple clients that want the same property?

Spencer Caldwell: You’re trumping me here. That’s a great question. So fortunately, the Phoenix area, the pie is huge.

Mike Hambright: Yeah.

Spencer Caldwell: Most likely, you’re not going to want a property that I want, just because it’s so big, and our eyes are on different. So we don’t really have that problem too often. Okay? Where we have multiple clients on multiple properties. If we do, you think the value is going to be different from what I think it is. So my max bid is going to be different from your max bid. So that quite easily . . . The highest bidder gets it.

Mike Hambright: Yeah.

Spencer Caldwell: So that’s what we do if there’s multiple on the property.

Mike Hambright: Okay. Okay. So you work with a lot of different clients. So who comes to you? I mean, who is using you as a tool to acquire properties at the auction? What does a typical profile look like?

Spencer Caldwell: Okay. So sorry. So ask that question one more time.

Mike Hambright: So who are your customers?

Spencer Caldwell: Oh, customers.

Mike Hambright: Is it professional people? Is it out-of-state people? It’s probably a little bit of everything. But in terms of anybody watching this, says, “Hey, I might be interested in that,” what does your typical customer look like? And I guess, what are you looking for in a customer that you’re going to serve?

Spencer Caldwell: Okay. Great. Great question. So we deal with it all across the board. We have buyers that are out of country, out of state, and in-state. Obviously most of our buyers are in-state because they know the market most, but that doesn’t limit that. We work with a lot of people out-of- state and out-of-country.
It seems like a lot of real estate agents . . . Like today, I think out of the couple properties we picked up, I think at least one of them . . . So at least 50% are real estate agents because they know the market. They know the comps, and they’re into flipping themselves. So a lot of, it seems like, real estate investors are also agents, just flipping on their own.

Mike Hambright: Yeah.

Spencer Caldwell: So we deal with full-time investors. This is what they do. I got a call from a guy this morning. He’s a full- time investor. This is what he does all day, every day. I got a call from a guy that runs his own business today, and he doesn’t have any time to look at the list. So it’s really all across the board. We’re set up, and I personally can help from the investor that knows a lot to the investor that knows little. So we’re set up to help any type of clients.

Mike Hambright: Okay. Okay. So talk a little bit about just generally buying at the auction. I mean, typically you’re buying houses sight-unseen, at least on the inside.

Spencer Caldwell: Right.

Mike Hambright: I know there’s maybe some tricky ways around that sometimes. Talk a little bit about how your typical investor, some that you’re serving or maybe even your agents, gather information to let somebody know what the repairs are on the inside. I mean, I buy plenty of houses where the repairs are far more than I even paid for the house. Of course, I’m in a low-cost market.

Spencer Caldwell: Okay.

Mike Hambright: But just talk a little bit about how people . . . I mean, that’s really kind of half of the equation, right, is what the repairs are like or the necessary updates. So talk a little bit about how you kind of get around that.

Spencer Caldwell: Okay. Great. So basically, we produce the list of all the properties going to auction, the night before the next day. You may think, “Why don’t you produce that list sooner?” Well, we can, and I have an early-bird list, but it don’t really matter much because you’re going to be a dog chasing your tail, because everything changes on the minute, on the hour, with trustee sales. So if I give you a list today, that it goes in a week, most chances are it’s not going to go in a week. So it only makes sense to look at it the night before.
Okay. I know it’s quick. The next morning, we produce an update list. Because guess what? From 8:00 the night before to the next morning at 8:00, there’s a lot of changes. A lot postpone or cancel. So our clients know, for the most part, what’s going. That doesn’t mean they can postpone it at any time. Out of 15 properties that sold to date, there’s like 40 that postponed and cancelled. So it happens a lot.
So the clients identify a property they like and they want to bid on. If they’re out of state, obviously they can’t drive over to the property. So we have drivers that can drive over and snap some pictures of the property and basically see what condition it’s in. So a lot of clients say, “Oh, I don’t want to buy occupied.” Well, if it’s occupied, most likely it’s probably going to be okay. Unlike a vacant property, where there could be a lot of . . . They could have . . .
Let’s see a property we got today on 50th Street in Phoenix. The property . . . It appeared occupied from the drive-by. Then the clients who bought it actually got into the property, who bought it today [inaudible 00:16:53], and it actually was vacant. It appeared occupied because the water was still on, all the blinds were shut, and we didn’t want to bother anyone if it was occupied. So they got in it, and the property overall was fine.
The only problem was they did . . . The kitchen and the cabinets were there. It had nice corian and nice wood floors. But for some reason, they took the master bathroom vanity and countertop. So you just never know what you’re going to get, and that’s part of trustee sale.

Mike Hambright: Right.

Spencer Caldwell: But you got to throw that into your pro forma. You got to say, “Hey. If I know I can sell this for $150,000, then I got to be at this number to make a profit for the sight-unseen.” But for the most part, you know what you’re getting yourself into. You’re going to know if it’s vacant or occupied. If it’s vacant, you can get some pictures of the inside through the windows, unless they’ve shut them all. So I mean, I don’t have any horror stories. I have new clients call me all the time and say, “What if they dump cement down the drains? You got to redo all the plumbing.” Well, that doesn’t happen.

Mike Hambright: Right.

Spencer Caldwell: So there is stuff. I mean, you’re buying at your own risk. Its trustee sales, and all sales are final. So you will find some things that will be there that you didn’t plan on, but just plan for that in your budget.

Mike Hambright: Right. Right. So when houses are occupied there and you have to get somebody out, what is that like in Arizona? Some states are obviously much harder than others.

Spencer Caldwell: Right.

Mike Hambright: What is it like to get somebody out? Is it just a normal eviction process?

Spencer Caldwell: It is. It’s normal eviction process. But from what I hear from my investors, we still live in a cowboy state. It seems like for the landlords, the homeowners, that the state laws in Arizona really veer and help them out more than the occupant of the home. So it’s really just an average of 30 days, from what I’ve heard from my investors, that they buy an occupied home.
But for the most part, you buy occupied at trustee sale, you’re going to show up and say, “Hey. I’m the new owner. I have different plans for this house. You need to get out.” So most of the time, I would say over 50% of the time, they’ll move out, and you’re good. They’re out. You got a big house to start working on. But if they’re going to fight it, it’s only going to be about 30 days average to get them out, through the full eviction process.

Mike Hambright: Okay. Okay. So what’s your gauge on Arizona real estate right now? It’s obviously come roaring back over the past year.

Spencer Caldwell: Right.

Mike Hambright: Where do you think things are at? And where do you see things going, specifically in Arizona?

Spencer Caldwell: Man, in the ten years I’ve done real estate here, and I’ve had family members that have done it their whole life, we’ve been through a lot of cycles. I’ve personally been through a lot of little cycles within the ten years. To me, real estate in Arizona still makes sense to buy, even as a buy-and-hold, because we’re in a Sunbelt state. Our population seems to increase monthly still, here in the Phoenix area.

Mike Hambright: Yep.

Spencer Caldwell: Great weather. It’s a great . . . It’s a big retirement area. A lot of people from the cold country come down here. Just in this little population of Mesa, where I personally live and our headquarters office are, I heard that Mesa increases it’s population by over 200,000 people in the winter.

Mike Hambright: Wow.

Spencer Caldwell: So a lot of these people that come and visit for the winter eventually retire here. So Arizona is still a great state, and you can still . . . If you buy right, you can still [inaudible 00:19:57] off your mortgage. I lived in one house in one neighborhood and ended up moving to another because I liked it. I’m in the business. So I turned that one into a rental. It still cash flows several hundred dollars over what the mortgage is. So that’s the good thing, is we can still cash flow in Arizona.
As far as buying and flipping, there’s a lot of properties still going to auction. You can still buy under-value and put some money into it and end up putting it on the market and make some money. So the market is still great in Arizona. We haven’t fully recovered, as far as where prices were, from the downturn. So we haven’t fully recovered. So there’s still room.

Mike Hambright: Yeah, that’s great. That’s great. One of the things that I always talk to people about, like I said, I told you this beforehand, I love just meeting other entrepreneurs and kind of hearing their story about how they grew their business. So in addition to growing a large bidding business on behalf of other clients at the auction, I know you’ve built a brokerage of about 200 people, 200 agents. Right? So can you talk a little bit about that and how that’s grown in the face of kind of adversity in Arizona over the last few years? And maybe just talk about the business side of your brokerage.

Spencer Caldwell: Okay. Great. So I am a cofounder of Gentry Real Estate Group. My partner is Jacob Ash. We have basically focused . . . When we first started Gentry, we didn’t really have a vision of where we wanted to take it and where we wanted to go. We just knew we wanted to do real estate. So eventually, we attracted some great partners, if you will, that their visions were bigger than mine and Jacob’s. They’re excited for what Gentry is and what it could become.
A couple of those have really taken the bull by the horns, if you will, and helped Jacob and I grow our visions and helped us recruit agents. We’ve got a great brokerage. We’ve got three offices, one in Mesa, our headquarters, where I’m at, one in Chandler, and one in Scottsdale. So we have three offices here in the Phoenix area, and growing. It’s just a great opportunity.
We’re investor-friendly. So agents that like to work with investors, like I do, we can teach them a lot of those great tools. We have so much training to get agents, new agents, if you just want to get into real estate and become an agent. We have so much hands-on training and the best trainers in the state, the most qualified. So that’s really helped us.
We’re just looking for people that want to be in real estate and want to grow their business and want to become something in real estate. So those are the agents that we like to attract.

Mike Hambright: Okay. Okay. Do you have plans to grow more throughout the state and other states? Or what’s the big plan? Or what can you share?

Spencer Caldwell: Oh, man.

Mike Hambright: To take over the world?

Spencer Caldwell: Like I said, I’ve got so many great partners around me that just surround me with people. So my vision, to be honest, is just . . . These trustee sales take up a lot of my time, so when I wake up in the morning until almost when I need to go home to my family. So my small little vision is . . . Yeah, I would like to get more agents. I wouldn’t mind having a brokerage in a couple different states, not every state, something manageable.

Mike Hambright: Yeah.

Spencer Caldwell: I’m 34, and I need to build up some type of retirement. I’ve got 20 years, 30 years, whenever I want to retire. I love working. So as my wife says, I’ll never retire. I’ve got some time, and we’re young, and we want to do things right and become something great and leave a big footprint in real estate. So I don’t know where it’s exactly taking me, but we’re excited to do it and excited to do it right.

Mike Hambright: Yeah, that’s great. That’s great. Well, just want to cover kind of one more thing. For people that have never bought houses at the auction, and I know your specialty is in Arizona, can you kind of give a crash course, maybe just for the next three or four minutes, on what people need to consider, like every step of the process, things they need to consider, who they need to align with, and stuff like that? Can you kind of give an overview of what they would need to do to get started?

Spencer Caldwell: Yeah. Yeah, absolutely. Thank you for asking that. So basically, if you’d like to buy at auctions in Arizona, my suggestion is to go to and click over to “trustee sales, auctions”. In there, you can put your name and your number and your email, and it will send a response over to me, so that I know you’re interested in buying at auction, or you can email me at [email protected] That’s You can email me and just say, “Hey, I’m interested in trustee sales in Arizona,” in which I personally will get back to you, or one of my partners will get back to you and explain to you the full process, what buying at trustees entails, what we need from you.
So that’s what I would suggest if you’re interested in buying at trustee sales, is just get with me. Let me know you’re interested. At that time, we’ll add you to our email list. So you can see all the homes going to auction. It’s a free list, and it’s an awesome list. It’s an awesome list to have. It’s worth a lot of money.

Mike Hambright: Yeah.

Spencer Caldwell: So if you’d like to get going at trustee sales, just contact me, and I’ll tell you the next step. So I make it sound like it’s a super simple system and anyone can do it. There is some complicated things to it. We’ll go over that one-on-one. There’s just some things you need to learn. One of them that’s coming to mind is people, especially locally here, say, “Hey. I want to buy properties, but I only want to be in this city or this zip code and this street.” Well, it’s not about that. There’s no gold in any certain city in Arizona or any certain zip code. If the property has room in it, the property has room in it.

Mike Hambright: Yeah.

Spencer Caldwell: If you can buy it under-value and buy it right, you’re going to go and put some money in it and sell it for market value. So don’t focus on one area in Phoenix. That would be a clue I can give you right now that’s coming off the top of my . . .

Mike Hambright: Yeah, I know. When I first started, I was naive, and we wanted to focus on just a couple of cities. Very quickly, you’re like, I’m in the opportunity business. If there’s an opportunity somewhere, okay. It’s an hour and a half away. That stinks, but that’s an opportunity, and I got to do it.

Spencer Caldwell: Yeah. You’re exactly right.

Mike Hambright: Yeah.

Spencer Caldwell: That’s true.

Mike Hambright: Awesome. Well, hey, Spencer, thanks so much for joining today and sharing some of your knowledge. You got some great success stories. So congratulations on that.

Spencer Caldwell: Hey, man. Thanks.

Mike Hambright: And we wish you all the best, going forward here. So thanks so much for your time. I hope you stay in touch.

Spencer Caldwell: You bet.

Mike Hambright: We’ll add links down below the video for anybody that wants to track you down or learn more about how to buy at auction or maybe try to get a hold of some of your data, some of your rich data.

Spencer Caldwell: Perfect, man.

Mike Hambright: Awesome. Awesome. Thanks a lot, buddy.

Spencer Caldwell: I’ll see you.

Mike Hambright: All right. Thanks for joining us on today’s podcast. To listen to more of our shows and hear from incredible guests, please access all of our podcasts in the iTunes store. You can also watch the video versions of our shows, by visiting us at