1 00:00:20,081 --> 00:00:23,631 Speaker 2: Hi friends, this is Vinny Chopra from here in Danville, 2 00:00:23,691 --> 00:00:27,561 California, and you might be saying, Hey, Vinny, what are these over here? 3 00:00:27,791 --> 00:00:32,491 You know, I wrote this book a few years back, Apartment Syndication 4 00:00:32,491 --> 00:00:34,531 Made Easy, it became top seller. 5 00:00:34,731 --> 00:00:37,491 I came from India with 7 in my pocket. 6 00:00:37,691 --> 00:00:39,641 It says 500 million. 7 00:00:39,781 --> 00:00:42,611 It's going to be 1 billion very soon, very soon. 8 00:00:42,821 --> 00:00:45,511 I'm right at about 850, 900 million. 9 00:00:45,511 --> 00:00:48,081 It's And then I'm ready for the next billion. 10 00:00:48,161 --> 00:00:51,691 Actually, you will see that happening two billion in this book. 11 00:00:51,781 --> 00:00:55,101 Also, the other book I wrote, which has been a very big 12 00:00:55,291 --> 00:00:57,061 positivity has been my life. 13 00:00:57,401 --> 00:00:58,581 Always, always. 14 00:00:58,581 --> 00:01:01,241 I've been married 43 years with two children. 15 00:01:01,551 --> 00:01:03,691 And the beauty is to be positive. 16 00:01:03,731 --> 00:01:07,231 The mindset that can take you to all the places in the world. 17 00:01:07,491 --> 00:01:09,231 And that's the book that also. 18 00:01:09,581 --> 00:01:10,851 Became big, big seller. 19 00:01:11,031 --> 00:01:13,881 My third book, Senior Assisted Living is coming. 20 00:01:14,061 --> 00:01:18,541 So do yourself a favor, go ahead and click the link below to get free 21 00:01:18,541 --> 00:01:23,351 copies, audio copies of these books, even printed copies of these books. 22 00:01:23,571 --> 00:01:27,031 If you, I'm a print in means digital, if you can't afford it, 23 00:01:27,191 --> 00:01:31,281 but I would highly recommend for you to get these or go to amazon. 24 00:01:31,561 --> 00:01:31,971 com. 25 00:01:32,231 --> 00:01:33,351 Just go to Amazon. 26 00:01:33,591 --> 00:01:36,401 I got it in soft cover and hard cover. 27 00:01:37,096 --> 00:01:40,486 In Kindle, in audio, also the Spanish version of this. 28 00:01:40,546 --> 00:01:41,686 Oh, this book also. 29 00:01:41,956 --> 00:01:44,036 So let's crush it, guys. 30 00:01:44,346 --> 00:01:46,066 I know you can be successful. 31 00:01:46,066 --> 00:01:50,426 I know you can do the kind of things that you want to do in life and have 32 00:01:50,426 --> 00:01:55,796 the streams of income and know how to really, you know, educate yourself so 33 00:01:55,796 --> 00:02:01,306 that you could become a strong, strong force in this world in real estate. 34 00:02:01,476 --> 00:02:02,386 I know you can. 35 00:02:02,821 --> 00:02:04,031 So take that step. 36 00:02:04,171 --> 00:02:05,821 Don't just be on the sideline. 37 00:02:06,071 --> 00:02:07,451 Take charge of your life. 38 00:02:07,551 --> 00:02:09,091 Take charge of your education. 39 00:02:09,537 --> 00:02:12,877 And he himself is going ahead and asking me if I may share my 40 00:02:12,877 --> 00:02:14,437 screen real quick, please do. 41 00:02:14,447 --> 00:02:14,567 Yeah. 42 00:02:14,567 --> 00:02:15,227 Excellent. 43 00:02:15,227 --> 00:02:18,935 See, that's the beauty of mastermind, sharing, collaborating. 44 00:02:19,355 --> 00:02:22,705 So I think, you know what, if I were you gave him some number. 45 00:02:22,705 --> 00:02:27,725 I remember you said 73, 000, or we were going to go to a hundred maximum, 46 00:02:28,205 --> 00:02:34,715 but let's sit on it because the more you stay back, the more he's going 47 00:02:34,715 --> 00:02:39,605 to say, Oh my gosh, Saurabh is the only interested party in my property. 48 00:02:39,975 --> 00:02:42,695 So his terms will change, yeah. 49 00:02:42,745 --> 00:02:43,085 Yeah. 50 00:02:43,505 --> 00:02:44,395 He'll go down. 51 00:02:44,470 --> 00:02:47,740 So I should wait for him? 52 00:02:48,460 --> 00:02:49,100 I would say so. 53 00:02:49,400 --> 00:02:50,590 You don't want to be pushy. 54 00:02:50,860 --> 00:02:53,100 This, it's not going anywhere, right? 55 00:02:53,535 --> 00:02:58,985 Even if somebody gets it and pays more, so what, but the good thing is I remember 56 00:02:58,985 --> 00:03:04,145 now what you showed me your friend is managing it and the numbers he's 57 00:03:04,145 --> 00:03:08,925 showing you the real numbers are pretty attractive numbers and it's worth 1. 58 00:03:08,975 --> 00:03:09,935 7 or 1. 59 00:03:09,935 --> 00:03:12,385 8 million with the new numbers. 60 00:03:12,405 --> 00:03:16,435 You only showed me August, I think, and September, but 61 00:03:17,705 --> 00:03:19,435 this time it's not worth that. 62 00:03:20,025 --> 00:03:21,925 And he's trying to get the money. 63 00:03:22,285 --> 00:03:26,885 Which will be worth a year from now with this new management company. 64 00:03:26,885 --> 00:03:28,605 So there is a compromise. 65 00:03:29,435 --> 00:03:33,505 Oh, this is a compromise and he needs to come to the grips of it. 66 00:03:33,815 --> 00:03:36,485 Hey, this property is not worth that much. 67 00:03:36,675 --> 00:03:40,475 Whatever appraisal he did, that's no good. 68 00:03:40,575 --> 00:03:42,675 Appraisals are good for 90 days. 69 00:03:43,905 --> 00:03:47,325 So you say, Hey, do appraisal now with whatever you have 70 00:03:47,325 --> 00:03:48,555 occupancy and everything. 71 00:03:48,795 --> 00:03:52,035 It's not going to, so please share. 72 00:03:52,205 --> 00:03:52,435 Yeah. 73 00:03:52,435 --> 00:03:53,705 That's the one I remember. 74 00:03:53,735 --> 00:03:54,155 Yeah. 75 00:03:54,425 --> 00:03:56,035 Look at that in August. 76 00:03:56,035 --> 00:03:57,195 It was with the new numbers. 77 00:03:57,195 --> 00:03:58,565 It was 1. 78 00:03:58,565 --> 00:04:01,055 4 ish, but in September it came back down to 1. 79 00:04:01,085 --> 00:04:03,985 2 because they did not make enough cash. 80 00:04:04,195 --> 00:04:04,495 Yeah. 81 00:04:04,745 --> 00:04:08,035 It was like 800 bucks for all those properties combined. 82 00:04:08,445 --> 00:04:13,805 Plus he has these amount of taxes due, which he has not paid for. 83 00:04:14,015 --> 00:04:15,775 Oh, wow. 84 00:04:15,795 --> 00:04:16,075 Yes. 85 00:04:16,085 --> 00:04:21,565 And I spoke with him like on a phone call, like on a video call as well. 86 00:04:21,565 --> 00:04:26,725 I gave him all the details, but basically what he is asking for is, 87 00:04:26,785 --> 00:04:30,545 so first of all, he's saying that taxes can be paid for one more year. 88 00:04:30,545 --> 00:04:31,635 So that should be fine. 89 00:04:31,745 --> 00:04:32,195 Okay. 90 00:04:32,615 --> 00:04:33,875 But But he's okay. 91 00:04:34,305 --> 00:04:38,095 He himself is saying I have an acute need of cash for the winter here. 92 00:04:38,125 --> 00:04:41,875 If you know anyone in your network who's looking to do some private 93 00:04:41,875 --> 00:04:45,965 lending, I'm not very comfortable with sharing because he's not doing 94 00:04:45,965 --> 00:04:47,895 that great in terms of Not at all. 95 00:04:48,075 --> 00:04:48,655 Not at all. 96 00:04:48,915 --> 00:04:53,585 You don't want to give somebody who's thinking, an or private lending with 97 00:04:53,635 --> 00:04:57,785 promissory note or anything guarantee because he may never pay back. 98 00:04:57,785 --> 00:04:58,015 Yeah. 99 00:04:58,095 --> 00:04:58,335 Yeah. 100 00:04:59,435 --> 00:05:03,035 So he's, he said that he's looking for 250k and flexible. 101 00:05:03,985 --> 00:05:06,045 I wanted some more information about him. 102 00:05:06,045 --> 00:05:10,575 Like I'm not going to lend to him, but just looking to for this deal 103 00:05:10,665 --> 00:05:12,455 as to what is his requirement. 104 00:05:12,785 --> 00:05:16,635 So after that, he said after 250k, he actually came down. 105 00:05:17,280 --> 00:05:22,160 really need something to get through the winter for his business, right? 106 00:05:22,400 --> 00:05:25,850 So short term isn't off the table, but longer, the better 107 00:05:26,250 --> 00:05:28,860 interest only preferred, right? 108 00:05:28,870 --> 00:05:34,100 So which is a red flag and then could secure it with the six unit 109 00:05:34,100 --> 00:05:38,210 building sooner, the better anywhere between 200 K to three 50 K. 110 00:05:38,440 --> 00:05:39,450 Is what they're asking. 111 00:05:39,780 --> 00:05:44,897 So if he's asking for 200 K, I know I can get probably the deal for this 112 00:05:44,897 --> 00:05:49,144 particular building at one 75 ish K. 113 00:05:49,194 --> 00:05:51,264 Because he's asking his low end is 200. 114 00:05:51,304 --> 00:05:52,454 Can he's telling it to me? 115 00:05:52,474 --> 00:05:55,444 Which means, yeah, but he wanted before. 116 00:05:55,884 --> 00:06:00,813 200 and 200 I thought right or something or 400 and 400. 117 00:06:00,814 --> 00:06:01,484 What was that? 118 00:06:01,964 --> 00:06:05,944 200 now 200 later but then I told him that's not gonna happen because 119 00:06:05,944 --> 00:06:07,354 your property is not worth it. 120 00:06:07,854 --> 00:06:08,354 Got you. 121 00:06:08,784 --> 00:06:12,874 So are you taking over the loan Saurabh or how is it helping? 122 00:06:13,504 --> 00:06:19,624 Yeah so I'm thinking that I'll take over the loan the 1 million right 1. 123 00:06:19,674 --> 00:06:21,324 22 million is the loan that they have. 124 00:06:21,834 --> 00:06:22,564 I'm thinking. 125 00:06:23,064 --> 00:06:29,124 If I can get this right, these are the 30 units, if I can even get it for 1. 126 00:06:29,124 --> 00:06:30,179 45, right? 127 00:06:30,179 --> 00:06:33,346 Or actually a little bit lesser. 128 00:06:33,396 --> 00:06:35,596 I did some quick math somewhere over here. 129 00:06:35,726 --> 00:06:36,206 Just give me. 130 00:06:36,246 --> 00:06:39,776 I love your Excel sheets and you are master at it. 131 00:06:39,796 --> 00:06:43,686 You can design and do so much projections so quickly. 132 00:06:43,796 --> 00:06:44,176 Yeah. 133 00:06:44,696 --> 00:06:48,916 It's not very clean right now, but I'll just quickly explain 134 00:06:49,086 --> 00:06:51,096 balance on the mortgage rate, 1. 135 00:06:51,136 --> 00:06:57,496 2 million, which he thinks that his LTV back then was 25%, right? 136 00:06:57,756 --> 00:07:00,766 So this is what the bank valued the building at. 137 00:07:01,536 --> 00:07:02,276 In 1. 138 00:07:02,366 --> 00:07:06,026 63 million to your two, two and a half years ago, right? 139 00:07:07,676 --> 00:07:09,786 NOI was still negative even back then. 140 00:07:09,886 --> 00:07:13,776 Oh, because they've been using the same exact management company. 141 00:07:13,796 --> 00:07:17,926 So we know that even if we go to the credit union right now, they should 142 00:07:17,936 --> 00:07:20,736 be able to give at least two years. 143 00:07:21,601 --> 00:07:23,041 Old value, right? 144 00:07:23,121 --> 00:07:27,376 This is the property value that I've come up with this 25% equity. 145 00:07:27,996 --> 00:07:34,176 And and then if we get each building, so there are five, six plexes, right? 146 00:07:34,231 --> 00:07:38,691 . . He is asking for 310,000 per sixplex. 147 00:07:38,946 --> 00:07:40,146 Which converts to 1. 148 00:07:40,676 --> 00:07:46,126 55 million, right now, no, six, you said six of them, right? 149 00:07:46,126 --> 00:07:52,356 Six times three is 18, five, five, five, six plexus, or five, five. 150 00:07:52,396 --> 00:07:52,706 Okay. 151 00:07:52,726 --> 00:07:53,096 Got it. 152 00:07:53,126 --> 00:07:53,456 Yeah. 153 00:07:53,466 --> 00:07:54,176 Five of them. 154 00:07:54,346 --> 00:08:00,106 He's asking for 310k per sixplex, which converts to 1. 155 00:08:00,166 --> 00:08:01,726 55k million, right? 156 00:08:02,696 --> 00:08:08,986 And which means I need to give him 326k in down payment, which I'm not gonna do. 157 00:08:09,346 --> 00:08:15,746 Which gives me an equity right now, if we have the same exact property value 158 00:08:15,766 --> 00:08:20,726 that was valued by the credit union two years ago, it gives me an 81 K equity, 159 00:08:20,936 --> 00:08:26,836 which is not that great, but I'm saying that I'm going to give you two 80 K or. 160 00:08:27,366 --> 00:08:32,626 Sixplex, which converts to a 1.4 million value, which means I need 161 00:08:32,626 --> 00:08:37,726 to give you 1 76 K instead of the 200 K that you're asking for, right? 162 00:08:37,786 --> 00:08:42,396 , which converts to my equity, would be two 30. 163 00:08:42,396 --> 00:08:42,399 2 31. 164 00:08:44,401 --> 00:08:46,481 So this is what I'm thinking right now. 165 00:08:46,901 --> 00:08:49,811 But I need to wait for this guy to come back to me. 166 00:08:49,841 --> 00:08:51,461 I can't like go and say that. 167 00:08:51,461 --> 00:08:52,861 Hey, like I'm Yeah. 168 00:08:53,221 --> 00:09:01,871 And the only trouble I have is that the raised value you're taking two years 169 00:09:01,871 --> 00:09:07,461 back and the market has gone downhill with the interest rates where they are. 170 00:09:07,461 --> 00:09:10,401 And even though it's a fixed loan, I think, and what's the 171 00:09:10,411 --> 00:09:12,771 percentage of the loan on this one? 172 00:09:12,771 --> 00:09:12,821 Okay. 173 00:09:12,836 --> 00:09:13,196 3. 174 00:09:13,376 --> 00:09:15,336 7 percentage. 175 00:09:15,876 --> 00:09:17,366 When is it expiring? 176 00:09:17,926 --> 00:09:20,116 December 2026. 177 00:09:20,436 --> 00:09:21,476 Oh, 2026. 178 00:09:21,486 --> 00:09:27,216 So it's coming up here in two years, two years, almost two years, which 179 00:09:27,216 --> 00:09:32,056 you will be able to do very well and refinance it, which is good. 180 00:09:32,586 --> 00:09:37,876 But I'm just having he's stuck with that valuation. 181 00:09:38,416 --> 00:09:47,036 How much will it cost If you know your friend, maybe know some appraiser to 182 00:09:47,046 --> 00:09:52,836 do the real appraisal of this property and put it in his face, you pay for it. 183 00:09:53,056 --> 00:09:55,466 Maybe it's a 750 or whatever. 184 00:09:55,906 --> 00:09:58,436 But if you're really interested in going further. 185 00:09:59,136 --> 00:10:04,476 Now that appraisal is going to really change his totally mind. 186 00:10:04,976 --> 00:10:05,676 I'm telling you. 187 00:10:06,076 --> 00:10:09,546 What about if the appraisal actually comes back at 1. 188 00:10:09,546 --> 00:10:09,954 6 million? 189 00:10:09,954 --> 00:10:10,494 At a higher. 190 00:10:10,534 --> 00:10:10,814 Yeah. 191 00:10:10,954 --> 00:10:12,964 No, it's good for you to know that too. 192 00:10:13,174 --> 00:10:13,994 I like it. 193 00:10:14,734 --> 00:10:18,414 I would rather I get an appraisal, which comes to 1. 194 00:10:18,414 --> 00:10:20,614 631 to be truthful. 195 00:10:21,604 --> 00:10:25,444 I just don't want to take this two years back appraisal. 196 00:10:25,944 --> 00:10:30,164 What my thinking is you're looking at millions of dollars of the asset. 197 00:10:30,404 --> 00:10:32,924 So it's well worth, to do the appraisal. 198 00:10:32,924 --> 00:10:39,374 I would say if you're that interested in it by the thing I like is that your 199 00:10:39,774 --> 00:10:45,734 friend is going to be managing it, who is local and he is going to take care of you. 200 00:10:46,074 --> 00:10:48,164 You'll pay him good commission per month. 201 00:10:49,284 --> 00:10:52,364 He will not, give you wrong, information. 202 00:10:52,774 --> 00:10:54,474 So that's something I like. 203 00:10:54,514 --> 00:10:58,874 I wouldn't like this property if you didn't have that element in it. 204 00:10:59,699 --> 00:11:01,049 You're in San Francisco. 205 00:11:01,409 --> 00:11:03,659 This is in Fargo, North Dakota. 206 00:11:04,399 --> 00:11:06,739 And, how many times you want to fly there? 207 00:11:06,769 --> 00:11:07,419 How many times? 208 00:11:07,859 --> 00:11:12,599 Things just don't work out, unless you have a good property management company. 209 00:11:12,839 --> 00:11:13,449 Very good. 210 00:11:13,819 --> 00:11:18,409 We did well in Knoxville property because of property management 211 00:11:18,419 --> 00:11:20,709 company and the right manager. 212 00:11:21,099 --> 00:11:21,259 What? 213 00:11:23,424 --> 00:11:25,704 Monica and I were discussing that, we bought for 12. 214 00:11:25,754 --> 00:11:27,394 5 sold for 17. 215 00:11:27,394 --> 00:11:31,414 4 in just two and a two years, two and a half years. 216 00:11:31,864 --> 00:11:36,594 It was totally their hard work, not ours. 217 00:11:37,974 --> 00:11:40,894 We used to meet only 10 minutes a week, by the way. 218 00:11:42,464 --> 00:11:48,364 10 minutes, 1 o'clock, 1 10 meeting adjourned on the zoom. 219 00:11:48,714 --> 00:11:50,014 Totally done 10 minutes. 220 00:11:50,264 --> 00:11:53,024 She would have everything laid out everything. 221 00:11:53,024 --> 00:12:00,434 And bum, and she was the only manager and the leaser, by the way, she was that good. 222 00:12:00,449 --> 00:12:02,649 For 107 units. 223 00:12:03,149 --> 00:12:08,199 Anyway, but I'm just saying that I think I like the fact your friend is 224 00:12:08,199 --> 00:12:13,769 involved and he's a, but then it just tells me, I will say, wait until October. 225 00:12:14,089 --> 00:12:16,719 Maybe those September numbers were very poor. 226 00:12:17,029 --> 00:12:18,799 October might be even poorer. 227 00:12:19,609 --> 00:12:24,169 And then November might purer because Christmas time and all, question is so 228 00:12:24,169 --> 00:12:28,789 Rob, so with all of this how, what's your plan to stabilize the property? 229 00:12:30,059 --> 00:12:31,459 Yeah, great question, Ricardo. 230 00:12:31,789 --> 00:12:36,629 I would say like the idea is currently there are some vacancies in here. 231 00:12:37,079 --> 00:12:40,559 Yeah, so as you can see, there are some vacancies in here. 232 00:12:40,719 --> 00:12:43,929 We can fill this up currently it's at 84%. 233 00:12:43,949 --> 00:12:47,029 Anything above 90 percent should be good enough for them. 234 00:12:47,459 --> 00:12:48,659 This is one idea. 235 00:12:48,679 --> 00:12:52,959 Plus even the rents currently are a little bit under ended right now. 236 00:12:53,239 --> 00:12:55,639 So those rents are going to get Yeah. 237 00:12:55,639 --> 00:12:59,499 So these leases are going to end once these leases keep ending, they're 238 00:12:59,499 --> 00:13:01,409 going to keep increasing the rents. 239 00:13:01,749 --> 00:13:05,759 And even the management has changed from the previous management, which had a 240 00:13:05,759 --> 00:13:08,259 lot of expenses to the new management. 241 00:13:08,359 --> 00:13:11,689 So that is also going to help increase the NOI. 242 00:13:12,029 --> 00:13:16,879 So that's the idea, reduce the expenses, increase the income and increase the NOI. 243 00:13:18,989 --> 00:13:19,549 Beautiful. 244 00:13:19,619 --> 00:13:20,189 Beautiful. 245 00:13:20,429 --> 00:13:20,959 Awesome. 246 00:13:21,009 --> 00:13:21,359 Good. 247 00:13:21,759 --> 00:13:26,919 So what you're saying is get an appraisal done from a, from the same credit union 248 00:13:26,929 --> 00:13:32,119 that loan to him, and then get that number and whatever the number comes, even if it 249 00:13:32,119 --> 00:13:36,739 is at a higher number, we can negotiate based on cash flow, where we can say that, 250 00:13:36,739 --> 00:13:40,549 hey, like the cash flow is going to be still negative, so we can't pay so much. 251 00:13:40,939 --> 00:13:44,234 . So we should do something like that because I've run the cashflow 252 00:13:44,234 --> 00:13:46,154 numbers as well over here, right? 253 00:13:46,844 --> 00:13:47,804 Uhhuh , as you can see. 254 00:13:48,304 --> 00:13:54,714 Even if we take capital expenditure, I've made the asset management fee zero, right? 255 00:13:55,184 --> 00:13:58,084 And if I'm giving them 1. 256 00:13:58,084 --> 00:14:04,654 4 million with something in down payment, let's say 15 percent in 257 00:14:04,654 --> 00:14:06,624 down payment, which is 200 K, right? 258 00:14:08,074 --> 00:14:09,574 13 percent in down payment. 259 00:14:09,574 --> 00:14:09,894 Yeah. 260 00:14:10,504 --> 00:14:12,914 So the cash flow, cash and cash return is zero. 261 00:14:13,174 --> 00:14:16,544 So I can say that I'm not making any money right now. 262 00:14:18,219 --> 00:14:22,979 This is the max that I can give you and what is remaining is 263 00:14:22,979 --> 00:14:24,479 my equity, something like that. 264 00:14:25,419 --> 00:14:25,919 Love it. 265 00:14:26,059 --> 00:14:26,559 Love it. 266 00:14:26,619 --> 00:14:28,459 What you're doing is so great. 267 00:14:28,899 --> 00:14:33,809 I think as we are doing case study, is it okay if I could share and 268 00:14:33,839 --> 00:14:35,829 this will really help a lot also. 269 00:14:36,039 --> 00:14:39,759 All of us at the meeting what we look for, right? 270 00:14:39,919 --> 00:14:40,739 For the property. 271 00:14:40,769 --> 00:14:44,299 So boy, it's not letting me what happened here. 272 00:14:44,699 --> 00:14:45,149 Come on. 273 00:14:45,639 --> 00:14:45,929 Okay. 274 00:14:48,819 --> 00:14:53,029 Should I wait for this person or should I like say, because 275 00:14:53,029 --> 00:14:54,399 he needs the money right now. 276 00:14:54,489 --> 00:14:58,319 Like he's saying that he's looking for different options right now. 277 00:14:58,619 --> 00:15:01,159 If he's funding, then this deal is gone 278 00:15:03,739 --> 00:15:08,169 and he's looking for it for the winter because that's when his second business 279 00:15:08,199 --> 00:15:12,289 is needs, needs some cash to get to know what is his second business. 280 00:15:12,349 --> 00:15:13,279 Did you ask him? 281 00:15:14,369 --> 00:15:17,629 It's like some bounty hunter or something. 282 00:15:19,169 --> 00:15:19,519 Party. 283 00:15:21,094 --> 00:15:21,604 I know. 284 00:15:22,094 --> 00:15:26,084 He's trying to get money from you from this to put into 285 00:15:26,084 --> 00:15:27,914 another sinking ship, maybe. 286 00:15:27,914 --> 00:15:29,714 I don't know, . Okay. 287 00:15:29,714 --> 00:15:30,654 This is the yeah. 288 00:15:31,194 --> 00:15:32,664 Party rental games galore. 289 00:15:32,724 --> 00:15:33,624 Party rental. 290 00:15:34,354 --> 00:15:34,984 Oh, games. 291 00:15:34,989 --> 00:15:36,334 Floor party rental. 292 00:15:36,604 --> 00:15:41,144 And maybe because of the holiday season, it's the high time for 293 00:15:41,144 --> 00:15:42,824 him to make rental money, yeah. 294 00:15:42,934 --> 00:15:43,055 Oh yeah. 295 00:15:43,060 --> 00:15:44,044 With the kids. 296 00:15:44,619 --> 00:15:46,419 For the kids and things like that. 297 00:15:46,419 --> 00:15:47,579 So that's his business. 298 00:15:47,629 --> 00:15:48,079 Wow. 299 00:15:48,479 --> 00:15:48,959 Okay. 300 00:15:48,989 --> 00:15:49,439 Got it. 301 00:15:52,859 --> 00:15:54,889 I think you should wait him out. 302 00:15:55,119 --> 00:15:57,909 Cause he's desperate and get the terms that you want. 303 00:15:58,159 --> 00:15:58,959 Wait him out. 304 00:15:59,459 --> 00:16:02,209 Make sure whatever term it's on your term. 305 00:16:02,209 --> 00:16:03,019 Cause he's desperate. 306 00:16:03,809 --> 00:16:04,459 So true. 307 00:16:04,539 --> 00:16:05,079 So true. 308 00:16:05,329 --> 00:16:06,389 That's what I would say. 309 00:16:06,439 --> 00:16:07,339 Wait a little bit. 310 00:16:07,609 --> 00:16:08,479 Don't talk to him. 311 00:16:08,489 --> 00:16:09,899 Let him call you again. 312 00:16:10,139 --> 00:16:15,389 Maybe in a week's time, he'll call you, and then you could converse back up again. 313 00:16:15,569 --> 00:16:22,139 And if he finds some, the, some source of funding meanwhile, because it's 314 00:16:22,159 --> 00:16:24,449 winter already, it's almost there. 315 00:16:24,909 --> 00:16:29,199 We are already in October 9th and I know he's looking for different things. 316 00:16:30,304 --> 00:16:35,114 I know many times, we think that everything should go up 317 00:16:35,114 --> 00:16:37,304 to, the deadlines and all that. 318 00:16:37,314 --> 00:16:41,394 But many times we lose it if we are too fast. 319 00:16:41,934 --> 00:16:43,064 I've come to know that. 320 00:16:43,074 --> 00:16:46,694 I know what one deal I bought in Albion Apartments. 321 00:16:46,874 --> 00:16:49,224 It took me three and a half months. 322 00:16:50,264 --> 00:16:57,064 three and a half months to even put the LOI that got accepted and it was because 323 00:16:57,444 --> 00:17:04,164 that the sellers had high expectations and Marcus and Milly chap had told them 324 00:17:04,174 --> 00:17:06,204 this is worth this much the property. 325 00:17:06,694 --> 00:17:11,294 And I was coming low balling it whenever I would send an LOI with a deadline. 326 00:17:11,294 --> 00:17:17,074 They never responded it So so i'm saying that because patience is the 327 00:17:17,074 --> 00:17:23,654 virtue, And I was able to get it at a good price 191 units 192 units I think 328 00:17:23,904 --> 00:17:28,324 or something like that And we sold it at a much higher price, if we have a 329 00:17:28,354 --> 00:17:33,154 little bit time right now Let's go here to sharing the screen I just wanted to 330 00:17:33,154 --> 00:17:39,064 bring the, this is Pramod right here and Pramod is the guy who I coached him. 331 00:17:39,204 --> 00:17:42,924 He reached out to me about a year back, one on one coaching. 332 00:17:43,064 --> 00:17:43,894 I do that also now. 333 00:17:45,929 --> 00:17:46,449 Let's see. 334 00:17:46,959 --> 00:17:48,119 Can you hear it though? 335 00:17:48,229 --> 00:17:49,029 Let's see here. 336 00:17:49,089 --> 00:17:49,999 Probably not. 337 00:17:50,059 --> 00:17:50,789 It's right there. 338 00:17:50,789 --> 00:17:52,129 Share the computer sound. 339 00:17:52,239 --> 00:17:52,679 Okay. 340 00:17:52,909 --> 00:17:53,539 Are you there? 341 00:17:53,739 --> 00:17:54,099 Okay. 342 00:17:54,279 --> 00:17:55,029 Let's listen to it. 343 00:17:55,099 --> 00:17:59,939 I'm very excited to have a great friend and a great human being. 344 00:18:00,234 --> 00:18:03,574 Pramod Singh is here in the studio with me, and we're going 345 00:18:03,574 --> 00:18:05,414 to talk about his successes. 346 00:18:05,624 --> 00:18:10,644 He and I came to know about a year back maybe a year back Pramod, right? 347 00:18:10,904 --> 00:18:18,024 And you had been doing Airbnb and also flipping homes, renovating, and you 348 00:18:18,034 --> 00:18:20,234 really wanted to get into multifamily. 349 00:18:20,729 --> 00:18:27,279 And I was so impressed how much desire you had and how much work ethics, 350 00:18:27,309 --> 00:18:29,429 how great, all those things were. 351 00:18:29,689 --> 00:18:32,959 And then you were able to move the needle. 352 00:18:33,049 --> 00:18:37,739 I remember you were just every week progressing like crazy. 353 00:18:37,739 --> 00:18:41,409 I said, he's going to be a superstar and you have proven 354 00:18:41,409 --> 00:18:44,199 that way, so congratulations. 355 00:18:44,199 --> 00:18:44,789 Yeah. 356 00:18:44,929 --> 00:18:45,319 Yeah. 357 00:18:48,169 --> 00:18:51,129 Tell me more about, so you're in the Chicago area. 358 00:18:51,459 --> 00:18:51,809 Yeah. 359 00:18:52,519 --> 00:18:58,629 So Pramod Singh and I'm based out of Chicago, north side of Chicago, 360 00:18:58,629 --> 00:19:01,599 about 35 miles from the downtown area. 361 00:19:02,039 --> 00:19:03,169 And I'm a local investor. 362 00:19:03,169 --> 00:19:04,319 I call it myself. 363 00:19:04,349 --> 00:19:05,989 I'm not out of state. 364 00:19:06,099 --> 00:19:12,879 I try to, invest, within 30 or 40 miles radius from where I live, because I 365 00:19:12,889 --> 00:19:17,839 still have, two growing children and I have a very exhaustive, W two job that 366 00:19:17,839 --> 00:19:20,879 I, I have to spend a lot of time into. 367 00:19:20,899 --> 00:19:21,699 With a little. 368 00:19:22,114 --> 00:19:27,294 Time I still consider real estate as my side hustle, which I want to, I want to 369 00:19:27,334 --> 00:19:33,624 make it my real story and go full time into real estate and quit my, corporate 370 00:19:33,624 --> 00:19:40,254 career, which is what Going to be truly my, American dream at the end where I am. 371 00:19:40,324 --> 00:19:41,864 I'm about 48 now. 372 00:19:41,864 --> 00:19:45,184 And then I just wanted to retire before I hit 50. 373 00:19:45,194 --> 00:19:47,299 So yes. 374 00:19:47,299 --> 00:19:52,329 I'm really excited and to be on your podcast and because I know 375 00:19:52,329 --> 00:19:54,719 you for more than a year now. 376 00:19:54,789 --> 00:19:58,289 And since then I see a drastic change in my. 377 00:19:58,824 --> 00:20:04,794 My approach of how I used to look at real estate before and how, you 378 00:20:04,884 --> 00:20:10,864 energized me to to show the path that, any real estate, small or big, right? 379 00:20:10,884 --> 00:20:15,864 It's the mindset and your attitude that will probably be more. 380 00:20:17,264 --> 00:20:21,284 more important, to get any success, and not by the size of the real estate. 381 00:20:21,284 --> 00:20:25,684 So that was something, I would have not believed that, I would be able to 382 00:20:25,684 --> 00:20:29,044 pull through some of the bigger deals the one that we are currently doing. 383 00:20:29,064 --> 00:20:30,174 So thank you. 384 00:20:30,789 --> 00:20:36,939 No thanks to you you were so good in underwriting, you were so good in looking 385 00:20:36,939 --> 00:20:41,699 at projections and you had really done some really good business plan that 386 00:20:41,699 --> 00:20:46,779 impressed me so much because, and you did it with seller financing, with the 387 00:20:46,779 --> 00:20:51,689 interest rates being so high, in this market, you were able to harness that. 388 00:20:51,754 --> 00:20:54,804 All the special techniques to get that. 389 00:20:54,984 --> 00:20:58,564 So share about that, the multifamily, of course you also 390 00:20:58,564 --> 00:21:01,774 did before that some Airbnb homes. 391 00:21:02,154 --> 00:21:04,814 I was so impressed how you bought them. 392 00:21:05,034 --> 00:21:07,604 Maybe let's talk a little bit about Airbnb. 393 00:21:07,874 --> 00:21:12,734 Then we'll talk about this beautiful multifamily with value add that 394 00:21:12,734 --> 00:21:14,464 you're making it a beautiful thing. 395 00:21:14,584 --> 00:21:14,944 Yeah. 396 00:21:14,994 --> 00:21:17,964 So right now, currently we have I invested with my partner. 397 00:21:18,004 --> 00:21:21,964 I have my own, two Airbnb and one with my partner. 398 00:21:22,064 --> 00:21:25,534 So there are total three that we manage in house. 399 00:21:25,604 --> 00:21:30,064 And the way I used to look at the real estate is that, with little 400 00:21:30,084 --> 00:21:36,524 money that I can invest in, and I can really raise the value by adding value 401 00:21:36,524 --> 00:21:40,634 to the property and then increasing the crack cash flow drastically. 402 00:21:40,634 --> 00:21:45,634 So I used to buy houses which were between, three bedroom, one 403 00:21:45,634 --> 00:21:49,654 bathroom, three bedroom, two bathroom, mid-size, single family homes, or 404 00:21:49,654 --> 00:21:54,634 sometimes it was a duplex and very rarely some trap like triplexes. 405 00:21:55,204 --> 00:22:00,564 And I used to rehab them well, and put some money to, to make it look nice. 406 00:22:01,254 --> 00:22:06,384 Rented for a little higher rent than my comps, my competitive and in the area 407 00:22:06,384 --> 00:22:11,254 where there are a lot of demands for blue collar people it's somewhere in a C 408 00:22:11,254 --> 00:22:17,354 plus area or C minus area, C plus C minus areas, which is right in my backyard. 409 00:22:17,354 --> 00:22:19,614 So that was a great area. 410 00:22:19,664 --> 00:22:24,574 And when I started investing in there, so I realized that, there are not just the 411 00:22:24,634 --> 00:22:26,654 opportunity for the long term, but also. 412 00:22:27,054 --> 00:22:31,824 For some kind of, midterm and short term, just because I live in a place 413 00:22:31,834 --> 00:22:33,484 which is very close to a naval base. 414 00:22:34,109 --> 00:22:38,749 And then because of that, there are a lot of people who, kids who get graduated 415 00:22:38,749 --> 00:22:43,659 from the Navy graduation and then they celebrate it and they want their families 416 00:22:43,689 --> 00:22:46,149 to be, flying in and celebrated with them. 417 00:22:46,149 --> 00:22:51,009 So for that, with that in basically, opened up an opportunity for bigger 418 00:22:51,009 --> 00:22:55,179 size homes where a family come and celebrate the, it's a big milestone 419 00:22:55,199 --> 00:22:57,299 for every individual and the kids. 420 00:22:57,814 --> 00:23:02,074 So 80 percent of our customers are those people who are booking 421 00:23:02,104 --> 00:23:04,164 just for the, Navy graduation. 422 00:23:04,544 --> 00:23:08,494 So as long as you, if you are close to that, that bootcamp, 423 00:23:08,994 --> 00:23:11,094 it's a good market to be in. 424 00:23:11,114 --> 00:23:15,404 So I started looking into, some of the properties in that area 425 00:23:15,464 --> 00:23:17,304 where the city was allowing Airbnb. 426 00:23:18,304 --> 00:23:23,134 With that, I was able to find some of market properties at much cheaper 427 00:23:23,134 --> 00:23:24,864 rate than the real comp were. 428 00:23:24,924 --> 00:23:30,194 And I really did good rehab so that, it is very good Rehabs, I should say that. 429 00:23:30,194 --> 00:23:30,824 Oh my gosh. 430 00:23:31,034 --> 00:23:32,624 I don't know if you have some pictures. 431 00:23:32,624 --> 00:23:35,719 I would love to audience Yeah. 432 00:23:37,184 --> 00:23:38,264 That to you. 433 00:23:38,264 --> 00:23:41,434 And so the two that we did, I did actually. 434 00:23:42,134 --> 00:23:47,574 After refinance everything, I have zero dollar invested now. 435 00:23:47,594 --> 00:23:51,804 It's not even, it's not even a single penny that is invested. 436 00:23:51,814 --> 00:23:52,644 Everything got. 437 00:23:53,044 --> 00:23:54,424 I was able to, cash out. 438 00:23:54,814 --> 00:23:59,474 , I am leaving 25% or 30% equity on the property, right? 439 00:23:59,834 --> 00:23:59,924 Yeah. 440 00:23:59,924 --> 00:24:06,424 And plus these these houses are going for a monthly gross income on, not income, 441 00:24:06,424 --> 00:24:08,104 I would say, but the gross revenue. 442 00:24:08,109 --> 00:24:08,479 Revenue. 443 00:24:08,979 --> 00:24:10,384 About 7,000 a month. 444 00:24:10,384 --> 00:24:11,489 Six to 7,000 a month. 445 00:24:12,469 --> 00:24:12,999 Wow. 446 00:24:13,079 --> 00:24:18,409 So these properties are, yeah, so about 80, 84, 85k per year projection. 447 00:24:18,989 --> 00:24:25,339 So 50 percent expense and PITI excluding everything is still very good decent 448 00:24:25,339 --> 00:24:27,359 cash flow with zero dollar investing. 449 00:24:27,409 --> 00:24:30,249 So I consider this is a product. 450 00:24:30,899 --> 00:24:32,029 Congratulations. 451 00:24:32,029 --> 00:24:32,494 Yes. 452 00:24:32,654 --> 00:24:32,884 Definitely. 453 00:24:33,704 --> 00:24:37,714 And, also with the time, the value of the home is going to increase. 454 00:24:37,734 --> 00:24:41,934 Not only you're going to make cash flow, which you're going to get every month or 455 00:24:41,934 --> 00:24:44,314 every year, but the value will increase. 456 00:24:44,314 --> 00:24:48,994 And it's I'm paying off the principal, all of that. 457 00:24:49,054 --> 00:24:52,524 So yeah, these are all added, which I'm not even considering, but yes, 458 00:24:53,564 --> 00:24:55,954 it's very favorable investment for me. 459 00:24:56,054 --> 00:24:59,969 I know in those two, Can you do cost segregation? 460 00:24:59,969 --> 00:25:04,479 Because I, I interviewed yesterday, my very good friend, he's the CEO 461 00:25:04,479 --> 00:25:06,829 and president of core solutions. 462 00:25:07,189 --> 00:25:09,679 It's a cost segregation company. 463 00:25:10,059 --> 00:25:15,189 They have saved 2 billion in taxes with a B. 464 00:25:15,209 --> 00:25:18,849 And they have done my apartment studies too. 465 00:25:19,179 --> 00:25:23,659 But I was wondering if Airbnb homes, because you're putting so 466 00:25:23,659 --> 00:25:30,479 much renovation dollars and also furnishings, maybe there is a room to do. 467 00:25:30,704 --> 00:25:32,464 Cost sec, that's an idea. 468 00:25:32,614 --> 00:25:33,114 Absolutely. 469 00:25:33,114 --> 00:25:37,914 And that was one of the reason why I asked my wife to become a real estate agent so 470 00:25:37,914 --> 00:25:44,734 that a high paying W 2 employee income plus a real estate on the side, right? 471 00:25:45,114 --> 00:25:49,224 We come into the bracket of, higher tax paying, right? 472 00:25:49,224 --> 00:25:49,604 Yes. 473 00:25:49,789 --> 00:25:54,949 And you cannot commingle the things between your W2 and real estate, 474 00:25:54,949 --> 00:26:02,569 unless, until you either 8,000 eight, 800 hours in a 7 50, 7 50 or 800, yeah, 475 00:26:02,839 --> 00:26:08,224 800 hours you spend, or you become a real estate agent or you do a B, right? 476 00:26:08,224 --> 00:26:09,439 So these are the only three. 477 00:26:09,849 --> 00:26:14,039 Three weeks with which you can probably, you can save a lot of, huge amount, 478 00:26:14,319 --> 00:26:19,079 because then you can mix your negatives from the depreciation and everything. 479 00:26:19,089 --> 00:26:23,609 You could combine them with your W2 income, because as a household, 480 00:26:23,889 --> 00:26:27,549 if your husband, wife and wife is the real estate professional, 481 00:26:27,819 --> 00:26:31,079 you both file taxes together. 482 00:26:31,129 --> 00:26:34,559 You consider it as you speak professional, so that's it. 483 00:26:35,419 --> 00:26:37,119 Yeah, that's what our plan is. 484 00:26:37,139 --> 00:26:39,599 So that's how we are going to, I sit with my account. 485 00:26:40,109 --> 00:26:44,209 I just, go do that cost segregation, the properties. 486 00:26:44,839 --> 00:26:45,479 Yes. 487 00:26:45,529 --> 00:26:49,629 And with with the vehicle and stuff like, 650 pound or something, more than that. 488 00:26:49,809 --> 00:26:50,169 Yes. 489 00:26:50,329 --> 00:26:50,749 Yes. 490 00:26:50,919 --> 00:26:51,129 Yes. 491 00:26:51,169 --> 00:26:52,139 You can write it off, right? 492 00:26:52,149 --> 00:26:52,989 Yes, absolutely. 493 00:26:54,054 --> 00:26:54,404 Yeah. 494 00:26:54,424 --> 00:26:56,174 Maybe one day you'll buy a plane. 495 00:26:56,404 --> 00:26:59,494 You could write up the whole plane. 496 00:26:59,494 --> 00:27:00,004 Probably. 497 00:27:00,054 --> 00:27:02,664 Why would I wait to buy for myself? 498 00:27:02,664 --> 00:27:04,094 I would probably fly with you. 499 00:27:04,464 --> 00:27:04,544 You 500 00:27:09,114 --> 00:27:11,284 know, real estate is amazing. 501 00:27:11,284 --> 00:27:17,142 And, we had recording this in 2024, October with the 50 basis points 502 00:27:17,172 --> 00:27:21,792 cut, recently and tomorrow, I think we'll find out with the CPI report. 503 00:27:22,052 --> 00:27:25,342 Also how the interest rates will take care. 504 00:27:25,572 --> 00:27:29,732 But I think Fed is looking for a soft landing and the 505 00:27:29,732 --> 00:27:32,352 soft landing will be to cut 0. 506 00:27:32,352 --> 00:27:33,422 25 several times. 507 00:27:33,752 --> 00:27:38,602 I think those good days are coming back again, which I love it, because 508 00:27:38,632 --> 00:27:43,477 three years, It has been a very tough year in the monthly family, very tough 509 00:27:43,517 --> 00:27:47,117 year, and I believe in this three years, if your number has been working 510 00:27:47,467 --> 00:27:49,617 going forward, it definitely will. 511 00:27:50,067 --> 00:27:50,897 Oh, it will work. 512 00:27:51,037 --> 00:27:55,597 It will totally work if you're just conservative in our projections, 513 00:27:55,817 --> 00:28:00,947 assumptions, and don't expect too high increases in rents. 514 00:28:01,147 --> 00:28:01,597 Yes, exactly. 515 00:28:01,907 --> 00:28:05,667 I think, the properties, some of the properties, which are in 516 00:28:05,697 --> 00:28:07,777 foreclosures and things like that. 517 00:28:08,027 --> 00:28:14,607 I'm already seeing, I had two properties come today, 8 million cut down, slashed 518 00:28:15,107 --> 00:28:17,817 from the selling price, 8 million. 519 00:28:17,817 --> 00:28:19,227 That really blew me away. 520 00:28:19,567 --> 00:28:23,147 Then I'm looking at one over there in Nashville townhouses, 521 00:28:23,497 --> 00:28:27,117 beautiful townhouses, and they have reduced the price also. 522 00:28:27,117 --> 00:28:29,487 So there are certain people who are in a. 523 00:28:29,862 --> 00:28:31,202 Jeopardy of selling. 524 00:28:31,822 --> 00:28:35,152 But then there are other people, who are ready to buy. 525 00:28:35,422 --> 00:28:36,952 I think it's time now. 526 00:28:37,052 --> 00:28:37,372 You bet. 527 00:28:37,682 --> 00:28:37,922 Yeah. 528 00:28:38,942 --> 00:28:39,342 Yes. 529 00:28:39,972 --> 00:28:41,102 No, fantastic. 530 00:28:41,192 --> 00:28:46,072 Let me ask you about this seller financing deal that you were able to 531 00:28:46,072 --> 00:28:48,172 buy for almost zero, what he done. 532 00:28:48,172 --> 00:28:49,552 You're a master at it. 533 00:28:49,552 --> 00:28:51,152 Yeah. 534 00:28:51,152 --> 00:28:54,522 So it was back in December, 2023. 535 00:28:54,572 --> 00:28:55,182 I got this. 536 00:28:55,237 --> 00:28:59,987 Off market a broker reached out to me and he presented this deal to me. 537 00:28:59,987 --> 00:29:04,317 And he said that, this is these are 78 unit in a university town which 538 00:29:04,317 --> 00:29:06,967 is Urbana, which is about two and a half hours from where I live. 539 00:29:07,707 --> 00:29:14,147 And I know that area because most of my friends or even my seniors, colleagues, 540 00:29:14,147 --> 00:29:18,087 their kids have been to either that university or they're planning to go. 541 00:29:18,137 --> 00:29:22,057 And a lot of Asian community, a lot of, even, white American and every 542 00:29:22,057 --> 00:29:25,347 part of, demographic, demographics, they come from all the places. 543 00:29:25,357 --> 00:29:27,527 So it's about 50, 000 capacity. 544 00:29:27,767 --> 00:29:28,127 Wow. 545 00:29:28,397 --> 00:29:30,297 Yes, it's a thousand enrollment. 546 00:29:30,307 --> 00:29:31,257 That's huge. 547 00:29:31,817 --> 00:29:35,597 That's huge campus there. 548 00:29:35,597 --> 00:29:36,007 Okay. 549 00:29:36,007 --> 00:29:36,667 I'm sorry. 550 00:29:36,877 --> 00:29:41,687 Yeah, I think I hope you got something out of it guys if you did there was 551 00:29:41,707 --> 00:29:47,787 the guy i'm refinancing the deals and he was there I had to catch that but 552 00:29:47,897 --> 00:29:52,492 anything else he talked about here or You could just continue like that. 553 00:29:52,492 --> 00:29:55,412 So we took over the mortgage from right there and there was about 554 00:29:55,912 --> 00:29:59,492 400 something was his personal money or his private money. 555 00:29:59,712 --> 00:30:00,882 400, 000. 556 00:30:00,912 --> 00:30:04,272 So we took over everything and we said that, okay, so I'll continue to pay 557 00:30:04,272 --> 00:30:08,722 you your monthly mortgage and we will rehab these units and we will rent it. 558 00:30:08,722 --> 00:30:11,442 We will start collecting the rents and we will continue to collect. 559 00:30:11,932 --> 00:30:19,452 We will close the final closing will happen in April of 2027 or before 2027. 560 00:30:19,452 --> 00:30:23,712 I have, I am just, taking this property and taking it for a ride. 561 00:30:23,892 --> 00:30:27,372 I'm just trying to make sure the property is rehabbed. 562 00:30:27,422 --> 00:30:31,502 And it is rented nicely to a better community. 563 00:30:31,892 --> 00:30:37,552 And then The higher rent as well, again, if you do a better rehab, tenants will 564 00:30:37,592 --> 00:30:39,972 come and pay a little more then sure. 565 00:30:40,542 --> 00:30:41,502 So that's the idea. 566 00:30:41,702 --> 00:30:46,312 What we are working on right now is six, then, we go over all the renovations 567 00:30:47,092 --> 00:30:50,272 had to work, everything he's using cost. 568 00:30:50,272 --> 00:30:51,352 That was the existing one. 569 00:30:51,612 --> 00:30:57,052 Cut down all of a sudden that company is just to let you know, he's estimated by 570 00:30:57,082 --> 00:31:01,692 the seller was 6, 000 to 7, 500 a door. 571 00:31:02,282 --> 00:31:07,092 Guess how much he spent 2, 220 per door so far. 572 00:31:07,592 --> 00:31:09,362 The guy is genius. 573 00:31:09,962 --> 00:31:14,752 He's just done all renovation under 200, 000. 574 00:31:15,252 --> 00:31:15,702 Wow. 575 00:31:16,552 --> 00:31:17,842 This is mind blowing to me. 576 00:31:17,872 --> 00:31:18,452 Literally. 577 00:31:18,962 --> 00:31:22,592 And it's, the units are, he's going to show me pictures and all that stuff. 578 00:31:22,852 --> 00:31:27,212 But anyway, what I talk about towards the end of the interview is that 579 00:31:27,352 --> 00:31:31,332 he bought it for only three, it'd be worth six and a half million 580 00:31:33,772 --> 00:31:34,892 in just two years. 581 00:31:36,872 --> 00:31:39,842 So that is a remarkable story, remarkable story. 582 00:31:40,062 --> 00:31:43,432 I just wanted to share that, and the beauty is, we talked about 583 00:31:43,847 --> 00:31:46,227 again, it just goes into all that. 584 00:31:46,297 --> 00:31:47,557 So we'll just wrap it up. 585 00:31:48,067 --> 00:31:50,657 that's all for this episode of the investor impact. 586 00:31:50,657 --> 00:31:54,397 Stay tuned for the next episode and don't miss out on the opportunity to learn and 587 00:31:54,397 --> 00:31:56,487 grow alongside this powerful inner circle.