Hey Freedom Fighters, welcome back to the show! I’m excited because my good friend, Daniel Moore is joining us on the show today! We know that there’s a downside to the market coming, we don’t know when it’s going to be but we also know that it’s a great opportunity to get in the game in a heavier way. So today, we’re going to talk about market cycles and how to manage them! Let’s start the show!
Mike:Hey, freedom fighters. Welcome back to the show. Today, I have my good friend Daniel Moore on, and we’re going to be talking about market cycles and how to manage them because the truth is, is we know there’s a downside coming. We don’t know when it’s going to be, but we also know that’s a great opportunity to get in the game in a heavier way. So that’s what we’re going to talk about today.
Welcome to “Real Estate Investing Secrets.” We’re all looking for freedom and the opportunity to live better, more fulfilling lives, but most of us were trained our entire lives to work for someone else and chase their dreams. How can we use real estate investing as a vehicle to achieve financial freedom? My life is dedicated to answering your real estate investing questions and helping you build an investing business that allows you to change your life and the world around you and to enable you to turn your dreams of financial freedom into a reality. My name is Mike Hambright from flipnerd.com, and your questions get answered here on the “Real Estate Investing Secrets” show. Daniel, welcome to the show, my friend.
Daniel:Oh, I’m glad to be here, man. Like it’s been a long time coming. I’ve been listening to your podcast now for years.
Mike:So I appreciate that. And you guys at Propelio have come on the scene in a major way over the last few years and really changed the industry and you’re very insightful. I mean, you and I have talked a number of times and I know you started before the last market cycle and I got in ’08, you got in ’06 and, you know, we’ve seen some ups and downs during that past kind of 12 to 13 years or so years, right?
Daniel:Yeah, like whenever I look back on it, I cannot express how lucky I was because it truly was luck. Like I jumped in flipping in 2006 and my very first flip was nonconventional, like I didn’t get a hard money loan or anything like that. I bought it with a conventional loan. I was making like nine bucks an hour and I did all of the work myself because I had no excess capital. I rehabbed the property myself. It took me two years to do it. So I got it 2006, two years to do it. I was disposing of the asset in 2008 and I literally looked back at my hoods and I sold it about a month before the market really popped. So I got out just in time.
Mike:Yeah. Yeah. Well, the good thing . . . the thing that, you know, we’re going to talk about today, and this is really going to help people, I think, that haven’t been in for quite as long as us and don’t know anything other than a kind of one side of the market cycle, is that what you and I know and what people that have been around even a lot longer than us, of course, are kind of forefathers. Some of those veterans that have been in the business for a long time, they know how to ride market cycles, right? It’s like where to get in and out, how to change your exit strategies. And I’m excited to talk about that today because I think for people that don’t quite know it yet, like there’s an opportunity coming up to be prepared for and now’s the time to start preparing.
Daniel:I absolutely believe it’s critical to developing a long-term true wealth is understanding the market cycles. Like if you bought in 2010 or ’11, like you look like . . . Excuse my expression, but you look a God. I mean, like there’s no way you really could have gone wrong buying in 2010 or ’11 if you held for an extended period of time. Time fixed all problems. I mean, if you bought it in 2010 and just got a really bad asset, well, right now, you’re still sitting on probably double the money you had to start with. So time fixed all problems.
And where we see a lot of newer investors that just jumped in in the last six or seven years, they’ve never experienced what happens during a market correction. But what they have seen, especially over the last year or two, is that their margins are shrinking, and they’re trying to fix that with volume. And that is where you saw a lot of investors jumping out of windows in 2008, is because all they’d experienced was the ride of ’99 to 2007, 2008 and they just thought they were heroes and then whenever the market popped out from under them, they’re sitting on a large amount of assets that were overleveraged that they couldn’t dispose of, bankruptcy across the board. Bankruptcy, bankruptcy, bankruptcy.
Mike:Yeah. It’s interesting because . . . I’ll say this, I feel like I’ve been a lot more cautious the last three or four years because I felt like a downturn was coming, but it started to slow down a little bit. Now we can feel a little bit now, right? But it’s like it happened way later than I would’ve thought. Like people that have been around for a long time have been talking about this, what we’re talking about right now for three or four years, but it just hasn’t really happened yet, you know? So it’s like, where is that window at? Like if I would have pulled out four years ago or any of us would have pulled out four years ago and said, “Hey, I’m going to sit on the sidelines until this storm is over. Or until this weather’s out.” Like we’d be sitting around twiddling our thumbs for a long time, losing a lot of money.
Daniel:So like if we look at historic cycles, like ’68 to ’78, ’78 to ’88, 10 years, 10 year cycles. Three decades in a row of 10-year cycles. And then in ’88, we set on a 17-year wave. It took 17 years. And the market kind of sat flat from ’88 to ’98 and then from ’98, when ’99 hit, Glass-Steagall was repealed and the repeal of Glass-Steagall allowed commercial investing banking to kind of merge together and play games. Well, you can clearly see in charts that the housing market went through a wild ride. And that wild ride was essentially the affordability of housing going like this while your average income was still staying stagnant. So the affordability was just pulling away, and that peaked in 2007, ’08 and then it popped. Well, if we look at another 10 year cycle again, we’re going in for 2008, 2009. We’re in 2019, so like you really can’t base everything off of history, but it can give you an insight as to what’s going on.
Well, if I look at those same charts, I look at the Case-Shiller home value index compared to the average income of the United States, well, in 2010 and ’11, the two merged back together again. Well, since 2010, ’11, it’s just continually gone away and if I use any sort of technical analysis like you do in stock markets and I throw those into channels, what you can see on the charts is that we’re about to hit the same point we were hitting in 2007 and ’08.
So look at that and then I also take a look at the days on market at certain asset classes, like last year, towards the end of last year, DFW, housing over half a million, started tanking. Like the houses, just were not moving in volume. We started in here as much as the last two quarters, properties over 300,000 started seeing a higher days on market, the months of inventory increasing. So whenever I started seeing historic months of inventory, you know, that are normally like one, one and a half, creeping up to two, two and a half, three, then I’m starting to say the market’s cooled down at least those price points. Days on market increasing, all things that I’m looking at saying, “You know what? We are starting to pull back a little bit.”
Mike:Yeah, no doubt. Yeah. And the higher dollar properties and the higher dollar markets, like if you, say California markets get hit first and then even inside of a market like Dallas, or Houston, or any major market, the high dollar stuff starts to slow down. Like there’s always signs of what’s coming, right? Like somebody catching a cold and as far as it’s like a little bit viral and starts to spread around, right?
Daniel:And then you’ve got other historical indicators like the 10-2 T-bond reversal that the Treasury bond has historically been a great leading indicator of a market recession. Like six of the last seven recessions were precursor to it, was a 10-2 T-bond reversal, which said within 18 to 24 months after that you’d see the market reclined or declined. So a lot of things are pointing towards it and that doesn’t scare me. I’m not going to sit up here and be like, “The sky is falling.” I would love for this to occur.
Mike:Yeah. This is what we talked about when we’re going to . . . I don’t want to steal our thunder, we’ll come back around to it towards the end of the show. But what it means ultimately is stuff’s going to go on sale soon, right? I mean, the truth is, is most money for real estate investors is made in a down market.
Daniel:That is the absolute truth. I think that any market. If you look at history . . . I like looking at history for anticipation of the future, but the greatest shifts of wealth always come in recessions and depressions. When the markets turn down, wealth shifts. And if you are aware of the market and you’re preparing for it, then you have the greatest opportunity there is.
Mike:Right? Yeah. And that’s what to prepare for, it’s don’t try to get lucky, be prepared so that there’s 100% chance you’re going to get lucky, right?
Daniel:So, yeah. I mean, the key things that I’m looking at right now is making sure that if you’re entering into assets as we speak, that you have multiple exit strategies and anticipate the fact that if the market does shift, what are you going to do to either a), manage that asset through the next downturn cause you’re not going to be able to dispose of it? Do you have creative extra strategies that will allow you maybe to turn around and sell it on a note? Have you got relationships with your private money or your hard money that will allow you to transition this property through? Otherwise, you’re going to be stuck with a lot of assets that are negative and underwater and you’re going to either be a), hidden bankruptcy, b), trying to short them all out, and you’re not going to really succeed on a short when the market’s going like this because the people that are looking to buy it are just not going to be there on the market to do it.
Mike:Right. Right. So let’s get kind of tactical here. So if you’re . . . And you and I are both in DFW, so I want to try to be a little more broad, like for people that are listening to this anywhere. If you’re feeling like you’re on the cusp of a slowdown or maybe you already are, depending on where you’re at, what should you be doing right now? Let’s talk about exit strategies and then other things like building relationships with lenders and stuff like that to kind of prepare so that you have the financing for what’s about to happen. So let’s talk about exit strategies and then kind of behind the scenes what should we be doing.
Daniel:The biggest thing that I’d be looking at right now, which I’d say we’re at or near a peak, is liquidity. You’re wanting to move as much as you possibly can into liquidity. I would consider if I have a rental portfolio, looking through and stress testing my portfolio, what is this portfolio going to look like if I see a 30% to a 40% decline in values? What does my portfolio going to look like if I see a decline in rents?
If you look at historical rental values, 2010 and ’11, the rents dropped big time. They’ve all climbed back up again since then. But if you’re overleveraged on your asset or you’re sitting at 80 cents on the dollar and your cash flowing 200 bucks a month, you might as well look at that and say, “Do I want to own that asset for another 10 years? Because if I’m looking at it and it pops, I might not be able to dispose of it.”
So I would go through any assets I’m currently holding saying, “Do I want to hold it for another 10 years? If I do see a pullback in home values, if I do see a decline in rent rates, how is that going to affect me?” And then I would cool off all of my inventory to move as liquid as I possibly can and I would consider probably moving my entire inventory off. And that is just something I truly want to hold onto. I would go through and I’ll get them out to retail as fast as I possibly can.
Now, that is for everybody that’s holding assets as they are, but if you’re entering into flips right now, I 110% do not agree with anybody that’s out there trying to do volume at lower margins. There’s a lot of people that know nothing other than flipping that started in 2013 and they just flip, flip, flip, flip, flip. They’ve got really good systems that are allowing them to turn volume, but they’re turning it at low margins and expecting to make 10,000 an house and they’ll just do 100 houses this year. Not a good business to be in right now. I would pull back on that, try and stay liquid.
And if you are going to go continue flipping, make sure that you’ve got the equity that is historically been proven to work for real estate investors at 70% margin. If you’re not flipping at 70 cents right now, I think you’re being really risky, unless you have alternate exit strategies and you’ve got relationships established with your lenders that will allow you to get creative on the disposition.
Mike:Yes. That’s great. That’s great, man. Well, so what about folks that have a rental portfolio right now that have a lot of equity in it? You know, you said suggest, maybe sell it off, unless you want hope for the long term. Do you see those that have . . . like I actually have a ton of equity in my rental portfolio, for example. And I’m not using, just kind of using me as an example, I guess. Is it a good time, because money’s still cheap, right? To go out and refinance and pull some equity out so that you have that cash to apply for other things?
Daniel:I really do say that depends upon your goals, but if I’m looking at it, I see your biggest opportunity for advancing your net worth by being in a liquid position right now. The more liquidity you have, if the market does turn, and that’s where I’m never going to sit here and say I have a crystal ball and saying, “You know what? Eighteen months the real estate market’s going to take a 40% cut.” I don’t know that.
Mike:Just to be clear, everybody, we’re sharing opinions today, not facts.
Daniel:Yeah. I’ve got leading indicators that can say that this is likely to happen, but if it’s going to tank or flatline, is something I’ll never know. But what I would say very confidently is that I personally would want to be in a liquid position. Then the liquidity gives me the opportunity that if I do see a large dip, a big price cut in real estate, then I can consume as much as I possibly can. If I’m sitting illiquid with a high net worth, that net worth does no good, really, for me at the bottom of the market if I can’t transfer that net worth to liquidity.
And that net worth may, if being held in real estate, take a considerable haircut in a shifting market because, you know, my balance sheet might be sitting there looking really good right now, but if I see a 30% decline in home values, my net worth might go down to nothing. So some things that might occur is that if I went through and I refi’d all of my assets to pull some liquidity out, but that will now all start looking at my balance sheet, take a look, a little askew whenever I looked at my loans to value.
Mike:Yup. Yup. So let’s talk a little bit about what you should be planning to do more. So one thing I want to go a little bit deeper on is we talked about building up liquidity by building access to capital, right? And so, for some folks, you know, generally, this is what happened during the last downturn, like a lot of hard money lenders went away, right? Or their rates. I mean, we were at . . . even here in DFW, for a while, we’re at 14, 14 and 4 type stuff was kind of normal, right? Now it’s like . . . it’s literally some people are half of that. So some of that stuff starts to go away, like bank starts saying, “No, we don’t lend against real estate anymore, or call me in a year and we’ll see where we’re at.” All sorts of stuff, right? And so, the institutional stuff is what drives up, but the private money is still a big untapped resources, is my opinion.
Daniel:I’d love to discuss that because that brings insight in for people that have not experienced this downturn before. At the peak, invested capital that’s at the peak at the downturn is lost. Like you’ve got to know that. If you have massive amounts of invested capital at the peak and it turns, you lost. So a lot of invested capital at the downturn, they pull out, they’re like, “I’m done. I’m not lending right now.”
So one of the first things you’ll see in the downturn is that lending just disappears. Your traditional lending starts getting really critical. They’re not going to just underwrite any loan. A lot of hard money, like you said, dries up and a lot of private capital that was in the market may still be a little, you know, trepidatious, if I can use a big word accurately? Your lending does dry up. You know, in that first swing of the downturn, loans become difficult to acquire.
That is why I believe in that first swing of the downturn, I’m not wanting to acquire assets because the first swing is if I acquire here, well, I still might see another 30% to 40% drop before I do anything, so during that downswing, I would roll strictly into subject to sell with the wrap, because that plays really well in that market cycle. If I’ve got a lot of assets at that first swing where I’ve now got people that purchased in 2017, 2018 looking to sell their home, they have limited to no equity at all and they are trying to get out from underneath this asset. They don’t have a choice to, a), they don’t have the equity to, and b), if they did, very limited loan sources available to the loan on these assets.
So if I’m going and I can acquire the subject to and then I can turn around and sell them on a wrap, it plays well into that market because lending’s dried up, I can now become a lender and properties are being difficult to sell because there’s zero to no equity. So I can take those properties subject to, sell them on a wrap, and now I’m holding a cash-flowing asset through my next wave. I really believe in first turn in the down cycle, subject to wraps all day long.
Mike:That’s great. And it’s one of those things that I didn’t do during the last cycle because I just didn’t know it, I didn’t like it. I didn’t know enough about it. I was just kind of naÃ¯ve, but the truth is, is there’s a whole lot of mortgages out there that have happened over the last five years at like 4% . . . sometimes sell 4%, right? There’s some really low rates locked in and so, there’s some opportunities there. Now, I know that some people don’t like sub2s, and I historically didn’t like them either, but part of it is, is I just, you know, I saw some bad things happening, some people get into trouble, and the truth is, is there’s a right way to do sub2s and there’s a wrong way to do sub2s, no [knowledge 00:16:21].
Daniel:I consider sub2 to be one of the most litigious, you know, investing strategies as it possibly can be. You’re signing, you know, a 20 to 30-year agreement with the seller, you’re signing a 30-year agreement with the buyer and you’re sitting in the middle, you know, collecting arbitrage on a yield spread. So you’ve got a 30-year relationship essentially built and I do not see doing it right to be really risky. You’ve got to be very well-educated, you’ve got to be well mobilized, and you’ve got to be prepared for it, but subject to in wraps is the prime thing to do in that market. And if you’re not comfortable doing sub2 in wraps, you just need to be comfortable with saying, “You know what? I’m going to stay out of the market for a while.”
Mike:Yup. Yup. Yeah. I know some of the people, because there’s some people that I know that got in over their head and they were wrapping, but they weren’t really telling the seller exactly what was going on. And then the buyer . . . you got to stay in the middle because this is my opinion. I’m not an expert on this, but I am never going to buy a house from a seller that trusted me and I will never allow them to get into trouble, financial trouble or somebody else to screw up their credit. So said another way, if the buyer isn’t making payments, I’m going to step in and I’m going to make it right.
Daniel:You have to.
Mike:Yeah, you have to.
Daniel:I mean, like if you sit down and you look at a seller in the eyes and you say, “I will make your payments on your house, on your behalf for the next, you know, 22 years,” you better hold strong to that because that is your word on the line and you need to disclose across the board everything. No, don’t hide a single. You need to be as up front and how do you say that? You know, blunt as possible. There is a due on sale clause in your mortgage. Yes, there are potentials of these things going wrong, but, you know, what we’re looking at right now is a near guaranteed foreclosure on your here in the next two weeks or the possibility of a foreclosure in the next 10 years.
Like you’ve got a guaranteed one coming up right now or the possibility of one coming in the future where your benefits come in with me right now is that I have the capital to bring your current loan current. I have the capital to make your payments moving forward, and as long as nothing catastrophic happens to myself or my business, I’ll make that pledge to continue doing that for you moving.
Mike:Yup. Yup. That’s good. So one of the things that you said right before we started recording, we were talking about up and down markets and I would say, you know, I kind of told you the majority of my rental portfolio, my single family house portfolio is like rental grade houses. It will forever be like entry-level rental grade houses and you said something insightful that was, buy houses that are eventual retail deals, like the type of house you would want to rehab, but rent them for a while until you hit the top of the market cycle again so you can really cash out in a big way. Talk about that a little bit more. I mean, it was . . . right when you said it, I was like, “Oh, that was a gold nugget.”
Daniel:So I didn’t come up with this name. Grant’s the one that coined this. He’s calling the seven-year flip cycle. It’s something that I’ve been teaching for a while, I just never had a name for it. What I’m saying is that we just refer to stage one. That’s where the market just turns and we’re seeing, you know, people jumping out of windows because they lost their assets.
But we hit the bottom side of that where we start seeing support in the market, we start seeing the days on market contracting, the month of inventory pulling back, and we’re starting to see it shifting from a buyer’s market back to a seller’s market or at least somewhere flat in between the two. I 110% of believe, from my experience in these markets, that is 1000% of the time to start acquiring an inventory.
Now, I could call that my rental portfolio, but I really don’t want to be a landlord on single-family real estate. I believe that single-family homes, in my opinion, are a great opportunity for creating income, but if I’m going to depreciate an asset, I want really all the five benefits of holding a portfolio, I’d pull that into commercial where I have a little more benefits to me as the landlord where I’m not really controlled by the consumer market.
But if I’m down at the bottom side of the market cycle, that is where I consume as much inventory as I can. That is where I’m going to start really digging in hard on shorts. I’m going to go in and I’m going to get as many short sales as I possibly can because they’re going to be abundant. The way I’m going to acquire them is with
because when you hit the bottom of the market, you start seeing support again, lending comes back.
Well, when the lending comes back, what has historically the federal reserve tried to do to spur spending in a recession, they cut interest rates, they start printing dollars off. So if I can take advantage of the low interest rates, pull out 10 Fannie Mae’s, roll them into a portfolio, grab another 10 Fannie Mae’s, roll them into a portfolio. Just keep doing that, get as many properties as I possibly can, and the way I’m going to analyze those as I’m going to go by zip code.
And I’m looking at the zip codes and look at historical pricing, which ones took the hardest hits in the last recessions and which ones had the biggest spring back? And I’m going to target hard and I’m going to get as many assets in those specific zip codes as I possibly can. Anything that is outside of those zip codes and have no reasonable foresight of future appreciation, I’ll still buy them, but I’m going to turn around and sell them on a wrap. I’d much rather hold the note in a non-appreciating market and collect the benefits of the note in those areas. But in the areas where I’m going to see a good appreciation, I’m going to consume and hold as many of them as I can in my inventory.
Now, let me explain why. What I’m looking at as it is I’m still going to be buying these properties in those zip codes at the cheapest price I possibly can. I don’t want to be going out and paying full retail value for them at that because it has to be a deal the day I buy it. It must cash flow and I must have equity upfront. Well, I’m going to do with those two things is if I get it at 70 cents on the dollar in 2010, let’s say, at 70 cents on the dollar in 2010, I fast-forward to 2019, that asset’s probably being held at around 40 cents on the dollar.
Where I’m seeing a lot of people that are stuck in the flip strategy right now is they’re struggling to get inventory to flip so they are running at higher margins or . . . excuse me, lower margins on higher volume. If you bought all of your inventory in the down market, when the market hits a peak and everybody is struggling to get assets and they’re all fighting for the same deal, that’s why they’re getting bid up, I’m sitting on an inventory of 100-plus houses that are retail-ready. All I got to do is when my tenant moves out, pull it in, do a light remodel to it, get it out there on the retail market. Now I am flipping at 40 cents on the dollar at the top of the market with a large inventory that I can capitalize on. That’s where I consider deviate . . .
Mike:With long-term capital gains taxes versus short term.
Daniel:And so, a lot of benefits to it there. Now, whenever I do turn around and sell them off, the depreciation that I accumulated through that time is going to have to be recaptured, but I have ways of getting out of that. Not all asset classes move at the exact same market cycle. So I have, at the top, what I would consider doing, instead of just going straight retail, is turn around and selling these off as a portfolio package of turnkey rentals. Because at the top of the market you start seeing larger investment capital firms investing on cap rates in single-family portfolios.
But if I can take my portfolio, sell it off at a seven cap to a really liquid cash liquid buyer, I turn around and sell them off, I’m not having to pay the agents fees, I’m not having to pay those fees, but if I sell them off in big chunks, I can 1031 exchange into alternate asset classes such as commercial or any other asset class that I would feel comfortable in buying in, defer all those taxes, defer the depreciation that I’d have to recapture, and just keep rolling my assets building further wealth.
Mike:Yeah, that’s awesome, man.
Daniel:Just different ways to think about it.
Mike:Yeah. Yeah, that’s pretty amazing stuff. So, Daniel, if folks wanted to learn more about you, first off, I’ll say you guys have created a ton of content at Propelio, so lots of great shows there. But if folks want to find your shows or get a hold of you any other way, where could they go?
Daniel:Man, if you go out and you just search Google for Propelio TV, that will be our blog kind of content. It’s more infotainment. We’re definitely giving you solid education through there and we’re giving you solid advice, but it’s not really step-by-step education, it’s more so, you know, “Here’s our opinions, here’s the things we’re doing. You get to learn from our experience.”
If you’d like to go further and deeper in that, we’ve got the Propelio Academy where it’s like step by step, here’s the things that you can do. And then just following me on Facebook. Like I’m not really big social media guy. I know that my company is really big and out there on social media, but searching for my company on Facebook is just Propelio. You’ll find it all over the place. You’re looking for me, it’s Daniel Chad Moore. I’ve always got the black hat on, so it’s pretty easy to spot.
Mike:Yeah. For those of you that are listening, you know, Propelio has just finally launched a nationwide comps, for real, not just like pulling in some Zillow bullshit. Like if you need comps, that’s one of the hardest things for people that are getting started. They’re not licensed. How do we get comps? Historically, we’re like, “Well, build a relationship with a realtor and try to get their login and stuff like that.” But you can actually get nationwide comps through Propelio now and . . .
Daniel:So, yeah, so people haven’t heard of propelio.com before. We have a 93% coverage of the MLS through the United States. So it’s pretty expansive. Beyond that, we’ve got 144-plus million property records in the United States to pool and stack your lists on like you’re looking for absentee owner out of states, high equity, low equity, no equity, private lenders, cash buyers. We’ve got the ability to build those lists and stack them. So access to MLS comps, access to nationwide lead lists, access to turnkey investor websites.
If you want to build a website for your company and you’re not tech-savvy, under five minutes on propelio.com, you can have a website for your business so that way you’re not losing your credibility when your buyers are out there trying to Google your company and all they’ve got is your Gmail email and it just builds some extra credibility for your company. We’ve got a driving for dollars app, so if you’re out there trying to drive for dollars, all that’s built into propelio.com and I consider it to be a valuable service to anybody who’s serious about this business.
Mike:That’s fantastic. Well, we’re going to add links down below in the show notes for everything you just mentioned there. So, well, thanks for joining us today. This is insightful and I think a lot of people are going to get a lot of value out of this. Just got to be prepared because, you know, as I kind of said, like stuff’s going on sale and like you said, the real wealth is understanding how to ride these cycles out, right?
Daniel:I mean, you can make money in any cycle up, down, left, right. It does not matter. You need to be aware of what’s predictably in the future as well as how to ride that wave. Like if it’s dropping and tanking, I’ll invest. If it’s rising, I’ll invest. If it’s sitting flat, I’ll invest. I just change my strategy.
Mike:Yeah, absolutely. Absolutely. Good stuff, my friend.
Daniel:Well, I appreciate you having me on here, man. I’ve really enjoyed it. Always enjoyed talking, talking with you, man. You’ve got 10-plus years’ experience in the business and I love with the veterans around here.
Mike:Yeah, absolutely. Absolutely. Everybody, thanks for joining us on the show today. If you haven’t yet subscribed, we actually coming up on our six-year anniversary, hard to believe that right around Christmas time and we’ve created over 1500 shows, much like this over the past, almost six years. So we’d love it if you check out more content on flipnerd.com. Of course, if you’d subscribe on iTunes, Stitcher Radio, YouTube, Google Play, anywhere where you could possibly watch or listen to content and of course, flipnerd.com. We’d love it if you’d subscribe and give us a positive review, share a good show if you find one. So appreciate you a bunch. See you on the next one.
Mike:Thanks for listening to today’s show. There are three ways I can help you start or grow your real estate investing business. If you’re a new investor and just getting started, the FlipNerd Investor Coaching program is the most effective program in America. I’ve been coaching and mentoring new real estate investors for 10 years and my students have literally purchased thousands and thousands of properties. Many of them started with little to no experience at all. Our program is a paint-by-numbers program where we tell you exactly what to do week by week to make sure that you don’t get distracted on your way to results. We show you how to build a real business, not just create another job for yourself. New memberships are limited. You can learn more and apply or schedule a call with me and my team at flipnerd.com/coaching.
If you’re an experienced investor doing a minimum of 10 deals a year, up to 500 deals a year or more, or have a multimillion dollar real estate portfolio already, you should check out our powerful Investor Fuel Real Estate Investor Mastermind. Over 100 of the nation’s leading real estate investors are members, and it’s not uncommon for our members to 2X to 5X their business just from getting around other members that Investor Fuel.
At Investor Fuel, each of us are business advisors to one another’s businesses, but we don’t stop at business. We focus heavily on becoming better people and living fuller lives. If you’re looking for fuel for your business or fuel for your life, please check out investorfuel.com. Applications and interviews are required as most investors are not a fit for our community. Please learn more at investorfuel.com.
If you’re not ready for coaching or masterminds, but eager to start learning more about investing, please join our private Facebook group by visiting flipnerd.com/facebook. New members get access to free training from us right here at flipnerd.com. And it’s a community to safely ask your questions. A great place to get started. Simply go to flipnerd.com/facebook to request your access today.