coming up it's i mean you did 15
wholesale deals you mentioned this
earlier in the call i i think it's time
for you to start playing at the next
level man they're going to be lining up
down the street
to want to stay here we're going to
change the world and
that's going to spread it's going to
spread to all the college campuses
welcome to the closing table where
everyday real estate investors bring
their deals to the top experts to get
exposure for potential partners and
investors
these top deal closer experts will ask
questions break the deals down and
cross-examine the guest to determine
whether the deal is profitable
or to be shot down winners will be
inducted into the closing table hall of
fame where they will continue to receive
exposure from the show
who are the closing table experts meet
the quack brothers who started out as
college students having over 75 rental
units in just one year
and are now partners of a private equity
firm investing in large-scale apartment
complexes
and now here's your hosts the quack
brothers
hey guys this is daniel next to the deal
closers table we've got
jason so jason is 37 years old out of
phoenix
arizona we have a door-to-door salesman
turned wholesaler
going after a wholesale deal let's go
ahead and see how it turns out
hey jason welcome this is daniel and
this is sam welcome to the show yeah
welcome to the show so what what deal do
you have for us
uh well all right so i'm in uh phoenix
arizona
um i found this deal from a guy
he he ended up uh he was going to do a
fix and flip on it himself
uh but it was his uh first deal and he
kind of uh
i think he bit off a little bit more
than he can chew so i uh
that's why i was able to talk him down
so much but
uh do you guys want the address no no
please don't yeah
for your sake do not give up cash and
ask you about the address so
i'm guessing this is a single family or
multi-family
uh it's a single family it's the thing
with family it's in the arcadia
area which it's it's a pretty nice area
it's right next to scottsdale
um whenever i've like talked to the guy
um i mean it i i ran the comps on it and
you know
with arizona we have tons of people
moving out here from california
and you know like these are kind of a
it's a hot area so
yeah no pun in the arcadia um the comps
were checking out to like
600 000 um 540 on the low end so what's
what's square footage bed bath what's
the count
uh it's uh three two uh
1924 square feet and uh
yeah whenever i get the comps right
there in that area like i said it was
coming out it's like 600
but you know i was uh looking to find a
buyer uh
at like 360. at 360. so was that your
lowest comp that you found
no that's what i was selling it for
that's what you're selling for the
lowest comp i found was 540.
540. so what's what's the what's the
strategy i'm assuming you're trying to
wholesale this thing
yeah yes sir jason how did you come up
with the comps
so basically i just i mean i go on
zillow i put in the
uh the same bed bath count um square
footage i look at homes that sold within
a mile of that
address uh within like the last year
uh see that's the same size and you know
i just
i find four or five good comps for that
so it's basically just seeing what's
holding that area
same size same bed mouth count and that
gives me
an idea of like what properties you sell
yeah i have a lot of questions about
this so
for one um did you estimate what it's
going to cost to repair it
uh if somebody were to buy it for 360.
how much how much do
they have to spend on the rehab so um
i kind of went and checked it out uh i
was figuring if somebody buys it at 360
they can put 70 80 000 into it
knows how how accurate is that 70 to 80
000 number is that an official
uh quote from a contractor is that
something that you're just estimating
well i i had somebody go by and take a
look at it and i got a quote for
uh 60 000 to get it all updated but i
always like to
you know add on a little word just in
case
who was that person was there were they
a licensed contractor
yes okay got it that's good to know yeah
yeah and um with the with the i figure
if somebody gets it at 360.
um you know put the 80 000 into it uh
they'd be all in at 440 000
and in that area i was figuring you know
selling it on the low end where i found
the low comps at 540.
um i mean it's still a hundred thousand
dollar profit
i mean obviously you got to take out the
realtor fees and everything after they
sell it
yeah jason have you have you factored
also what what the
uh what the holding cost might be
no sir okay and what do you think is
kind of green on that one
yeah so what do you think is the
timeline um how far how how far ahead do
you think
someone would have to rehab this is this
a six months turnaround or a year turn
around what do you think
i was i'm gonna assume six months but
i'm not as seasoned
as as most people but you know i try to
factor it in
but yeah i think six months would be
okay so is this is this your first
wholesale deal what's going on here
yeah it's it's a wholesale deal well i
know that but this is your first
no no uh i've probably i've done
probably 15 wholesale deals okay uh this
is
this is the one with the biggest price
tag on it
um my i got kind of spoiled on my first
deal i uh
i found like a old rundown area that was
gutted down to the studs and talked the
guy who's selling it
to me for uh for 30 grand then i found a
buyer
at 50 like two weeks later and then he
flipped it and made an extra 40 grand on
his end
so so do you already have this under
contract
i do you do oh phenomenal by the way for
for wholesale watching if you're gonna
wholesale a property
please have it under contract you
legally cannot wholesale it unless you
have it under contracts
yeah right you cannot advertise
something you don't have financial
assistance so kudos to you
right yeah yeah yeah i made that i made
that mistake once
yeah you don't make it you don't make
that mistake again so that's good
no um and i would i would point out to
say that the repair estimate i i you
i think it's gonna be more than that
it'll probably be more like eight to
nine months
because it's just a fallacy that we all
run into
well how do you know that right because
well when we went through fix and flip
projects at least the first few ones
right we thought it was oh we can get
this done in and out three months
it actually took us eight months to go
sure to actually get yeah but you don't
you don't know what this guy you know
ours was more personal reason well like
here's well here's the question i have
for you man so you've done 15 wholesales
in the past
i'm one of those people that think that
wholesaling is going to die in 2021
um not die like it depends on if you're
good right like we have a friend who's
got a system he makes six figures a
month like he's going to be all right
he might not make six figures a month
but you know it's not going to be as
prevalent right because we have the most
amount of
the access to buy properties is easier
today than ever
why not just do the deal yourself like
why not just flip it yourself like why
are you wholesaling this
right um well so i
i i've kind of tossed the idea of that
around but um
you know like i i think hard money
lenders out here in arizona they want 10
down so i mean that'd be like 30 grand
that i would have to pay
why is hard money your only option
i don't know i mean uh honestly like
i've never done a personal
fix and flip but um because i always
just wholesale the deals
yeah but jason at one point you know
you've never done a wholesale deal
either
yeah truth yeah so jason so the only
thing that's
that's that's stopping you from doing
this to yourself is is money is that is
that it
yeah so what if somebody watching right
now this show
were to say hey i'll invest in that deal
uh well uh it's opened at pioneer title
yeah just give me a call what you know
what i'm gonna do this for you man cause
you sound like you know what you're
doing
um the numbers look good
do me a favor man send me send me the
number
or send me send me uh the deal privately
through email
well i got a couple more questions for
you jason so what do you guys think so
how far ago did you lock this this down
under contract
uh three weeks ago three weeks ago okay
and
dude i'm guessing you have a closing
date because if you execute
contract yeah yeah the closing date's
coming up
but um i've built up a ton of rapport
with the seller and
uh i i know if i go and if i need an
extension i can get it
you know that's it's one of the main
things i do whenever i
i find sellers is that yeah i try to
build a ton of rapport with them so
they're really comfortable with me
did you have to do a uh did you have to
do an
earnest money down or no yeah
okay yeah so he i honestly like i mean i
just put 100 bucks down for
earnest money like he didn't really care
but you know i know i have to put down
something to make it like official
yeah so jason i i mean i i don't know
about sam but i mean i still i i think
you need to flip this thing i
i just think you need to do the deal
yourself i mean eventually you're going
to have to i mean
what are your ambitions in real estate
man what do you where do you eventually
want to get at
uh well eventually i mean uh everybody
that's super
i mean a lot of the people that are
super successful you know they uh they
make a lot of their money
in real estate yeah so i mean eventually
i don't
like right now i do like three different
jobs but
i just want to i would love to be into
real estate full-time
uh if i can get into the fix and flips
and do it myself
i mean that would be ideal yeah um but
this like i said this is that my biggest
wholesale deal that i've had
i mean with the uh with the cost most of
the other ones are like 100
000 200 000 but um
you know i i figured the numbers would
be good
uh because i mean i think people are
selling out here in arizona
at 80 percent do you know the median
listing price for your for your area the
median sales price
honestly no okay i i would yeah i would
because you might get less you might get
more
you know what i mean yeah like immediate
median sales price
year over year compared to last year
nationally is up 15.5 percent
wow you know like i mean everyone's
saying and now now is that if you're
gonna sell the home now's the time to do
it
right yeah yeah and you and you got a
home in one of the hottest states
in the united states which is arizona
and our and arcadia which is uh
to to my understanding it is more of the
upper class
kind of is that true jason yeah it is i
mean it's right next to
scottsdale and paradise valley i mean i
can see somebody like getting more than
asking price just because a lot of
people are coming here from california
they got the big pockets
yeah in california this price is nothing
yeah this is a condo
yeah this is a downgrade this is like uh
yeah so
this is great so jason couple things so
if money wasn't a problem for you
do you have the team to execute this
deal do you have the realtor do you have
a contract or do you have all the
the the logistical chain available to
you to do this deal or no
i don't okay all right so here's what i
would do so so do you give your stamp of
approval at least
for wholesaling this well the numbers
numbers look great for
wholesaling the only problem that i that
i might have with this is
uh holding cost as well as how how
integral
integral is the comps right because
i'm sure you can go to zillow but a lot
of times zillow could have bad data
so i think the way to strengthen this
and in your words right
protecting the downside yeah i think if
we can uh
get that comp locked in with some kind
of an actual
ppo yeah focus price opinion that would
make that will make this a bit more so
here's what you need to do jason so if
you're gonna wholesale this i would
recommend two action steps
number one you need to solidify and
verify you're holding costs
the way you do that is you look up tax
assessment for that property
go to the i mean it's easy go to the
property tax assessor any online county
data website's going to have it
figure out the amount of taxes that
you're going to pay during the time that
you hold this thing
also figure out how much is it actually
going to cost get a couple quotes from
different contractors in terms of how
much the rehab is actually going to cost
you
um figure out what the labor is going to
cost you don't necessarily obviously go
with the lowest price construction is
going to be your
biggest competitive point because it
you know i think in this market how you
get good quality contractor at the best
price possible
is going to give you the upper edge um
and and i i've i've known this
to be true even for our own business
construction is what kills or
saves a fix and flip deal yeah don't
don't don't go with the best price
just trust me from experience right i
mean i've done flips all across the
country
don't go with the best price price being
the lowest price always
oh yeah i always go with the guy who's
got in my opinion
i mean he doesn't even have to be the
best contractor or or the lowest price
as long as he's got good ethics right as
long as you get the best trustworthy
best human being 100 right shout out to
no no chunk in the trunk
right exactly yeah i mean that's number
one i i do that and then
number two um so zillow isn't is not a
good way to get comp right because zil
here and here's why right so pros is
that zillow in my opinion actually does
have pretty accurate numbers
based on what where they get their
numbers from but number two
is they're only getting their numbers
from zillow right there's a lot of
biases that comes with
data that's constricted to a particular
area or region
and i'm talking about you know online as
opposed to a physical area
so i look at some other things uh i'd
have a do you have a realtor friend
uh yeah i do actually i would have that
i would have your friend
do you a favor and and pull some comps
do it yeah do what's known as a
comparable market analysis
this person is going to be great because
if even if you choose to do this deal on
your own
you got somebody on the back end doing
all the the selling for you right
this is the property for you uh and i
would keep i would
maintain that relationship as much as
possible um
because even if you do this deal on your
own you're gonna need that team to help
you kind of
push this through yeah so ask ask for a
cma
and then my recommendation and my
recommendation is you flip this thing
i don't know i'd say if you're going to
pass this on to a wholesaler might as
well do it
um which if money is a problem for you
we'll give you a couple of suggestions
because hard money is not the only way
in fact
um that's that's one of the the
fallacies that i see a lot with
someone who's getting started in this
business is that they all think
hard money is the only way which daniel
can kind of contest yeah
i think it's the last resort in my
opinion you know i think
right now it shouldn't even be an option
with how low i mean how cheap money is
you know i mean i don't know if you knew
this but you know what you know that 21
of all u.s dollars printed was in 2020
right
really yeah yeah it's crazy so here's
what here's what i recommend because it
sounds like you've got the raw skills
and i meet guys like you all the time on
the road
where you have so much talent you have
so much raw talent and skill
you just need to harness it so you know
you're already a phenomenal sales person
because you know
you told me but you did door-to-door
sales you're very good at building
rapport
already with the seller all you got to
do is just harness that rapport building
relationship building towards building
relationships with capital investors
which you'd be surprised it's not very
hard to find yeah i literally i had one
of our coaching students go down her
phone
and i gave i give i give each one of my
coaching clients a script that they use
they go down and they literally pick out
10 to 15 people
on their contact list that are very
business savvy that have money
i tell them to call them use the script
and she raised a million dollars in
seven days
there's no reason why you can't do the
same thing yeah jason it sounds like
yeah you got
it sounds like you got the skill i mean
if you found this deal you were able to
both
the reporter seller i don't see why not
you can't build a report with a
potential partner well potential partner
and not only that but you use the same
skill to build a team
right so get get your contractor get
your realtor your real estate attorney
i mean it's i mean you did 15 wholesale
deals you mentioned this earlier in the
call i i think it's time for you to
start playing at the next level man
we're seeing a guy do you like sports
i'm a bears fan i'm a bearish fan too
hey how about
sunday night man i know it's hard being
a bears fan though
you want to play quarterback you're
gonna do a lot better than that at least
we got rid of parky
yeah i know we're gonna do better than
those other two guys that we got playing
a cubic
god all right so here here's what i
recommend i see a guy right now
who's too good for college and he needs
to get drafted
you need to declare for the draft that's
cool you know what i mean you're like
trevor lawrence right now
you know it's like it's time you know
what i mean like it's it's time to go
you know yes sir so obviously we've got
we've got ways to help you we've got
resources here at the clock with us if
you want to reach out to us man yeah
but yeah what do you think dana is this
uh is this a worthy deal to induct him
the hall of fame or
we could either put you in the hall of
fame or we can either quack block you
my vote this is like american idol right
i get to be simon you could be randy
right i say yes put him in the hall of
fame all right well with that
so pending uh if you can secure the
comps to be
more accurate and if we can get the
right uh estimate for the construction
i i think you're in the hall of fame man
yeah you're in the hall of fame brother
congratulations
first hall of fame in the show look at
that
thank you guys this is a historical
moment yeah so here's what that means
for those who are watching the show
i would like to thank my lord and savior
that's right baby
thank you jesus christ jesus christ so
here all right so
here's what it means to be in the hall
of fame jason so what we're going to do
is we're going to get your your bio
uh uh on the sh on our website as well
as your picture um
if you have some kind of a professional
photo that would help
and it will also link this show episode
this video
uh in the bio so that you know people
taking a look at the hall of fame they
know what show you've been on and
uh and this will help you our hope is to
promote you
yes um not just your deals but you as a
person uh because if you have the
capacity to come up with a deal like
this
you have equal capacity to to repeat the
success in the future now of course you
know past indicators of success doesn't
necessarily mean
um you're going to be successful we vote
on the person
we vote on the person not the deal not
the deal we vote on the person it's
always about the but the deal
is a fruit of how the how how good this
all right
let's just get that out of here for a
second all right so yeah no
this is this is so far i i see good
potential i i think well here's
here's why we do that here's why we put
your name your bio
and your credentials on the site is
because you know sam's seen this i've
seen this a lot cause i
traveled many well not many because many
to us
is like couple years three four years
but you know we traveled the road man
i've been i've been to a lot of cities
and you have no idea the amount of
people that have come up to me and says
man i had
150 000 invested in this deal this guy
sucked and i lost all my money
you have no idea how many times i see
that so part of the reason why we do
that is because we want the guys who are
legit we want the guys
who take the craft seriously who put in
the work to get
the rightful notoriety that they deserve
as opposed to the guys who
they have no idea what they're doing
they haven't you know i mean they're not
taking this seriously
and they're out there raising money you
know it's dangerous it's very dangerous
that's
that's part of the reason why we do it
yep so hey thanks man appreciate you
getting on the show
yeah so jason what we need to do is
we'll reach out to you
we have your email address so we'll
reach out to you and uh we'll kind of
confer up
uh more details that we need okay
yeah yeah dude thank you guys so much
here's the next contestant because next
to the deal closers table we've got our
friend sean
35 years old out of kansas city missouri
he is an
influencer and entrepreneur uh and he's
going after this apartment complex let's
see how it turns out
sean what's going on this is daniel and
daniel how's it going
it's going good man what do you got for
us today oh i am looking to uh
start making some money i want to uh
invest in a large commercial apartment
complex
large okay what does large commercial
mean to you
uh it means i'm gonna make a lot of
money off of it i'm thinking uh
this is gonna be a great place for
people to live
and it's gonna be in downtown kids in
downtown kansas city it's like 30
minutes from the airport
uh right near a couple uh heavy college
campuses
and a lot of people are going to want to
live there and i know
i'm going to be able to make some money
off this because that's where all the
money is they're going to be paying rent
to me
and it's going to be great so so large
are you talking about like 30 units 50
units or
like a 300 units what are we talking
about here no this is going to be a a 10
unit apartment
in fact i actually know of the owner uh
he's a friend of my dad's
and he's got covet he's not doing well
so i know he wants to get rid of this
apartment complex
and i'm gonna come in i'm gonna help him
out i'm gonna take it off his hands
i'm gonna flip it uh and i'm going to be
able to turn it into something amazing
okay so when you say flip are you
talking about you're gonna sell it
afterwards or you're going to are you
planning on holding this thing
no i'm going to hold on to this i got
some ideas that are going to be great
and make me a lot of money uh you know
this is where
people are going to want to live and
interact and
people are going to be there's going to
be a waiting list so long for there's
going to be a waiting list
there's going to be so many people that
you know what i i'm probably going to
have to open up
apartment complexes all over the country
because you know people love me i have a
little bit of an influencer i'm an
entrepreneur
they're going to want to stay where i
tell them to stay oh shoot okay
hey i wonder if this guy likes money i
love money everyone likes money and
this i have a foolproof plan and i'm
gonna make
a lot of money yeah so uh so sean so
tell us
sorry i just um i know what i thought i
told you i love your spirit
i told a joke to sam this morning and
he's probably still thinking about it no
i love your spirit of being able to make
money so let's let's get to the
nitty-gritty uh how much
how much rent do you think you're gonna
be able to collect uh i know you're
you're friends with um the the owner but
did he tell you how much money this
thing is generating uh or
plan plan on generating as far as
monthly income
you know he was telling me that this
thing's a little over a half million
dollars like 650
000 okay uh it's what he's thinking for
apartments
yeah he says 650 a month that seems kind
of low to me
i have an idea i'm gonna be able to make
at least a grand a month off these
apartments
uh and really get this thing going in
the right direction so is that a
so are you saying yeah are you saying
you're gonna cash flow a thousand
dollars a month
oh more than that because i'm gonna i
have what ten units in this apartment
right
you haven't you have to be worried man
that's not a lot
uh with with all the units i'm just i
was talking about units so
sure this is gonna be a lot of money and
then i'm going to open these things up
all over the u.s i'm going to be making
millions a month once uh once i get
everything flowing
you're going to make millions a month
millions a month i have no
i see this this i'm playing the long
term i'm an entrepreneur
uh i'm i'm an influencer i'm gonna get
people wanting to stay there
i'm gonna have one of these in every
major city across the u.s
yeah it starts with one sure i need your
help with the one for sure
so tell us more a little bit more about
the numbers so you said the gross income
is how much annually
for these ten years or let's look at
monthly because i want to see what's
let's look at monthly so so you got 10
units how much is each unit running out
for
uh each unit 650 a month is what they're
looking at right 650 a month i know i
can do better i
i have no problem sure let's look at the
numbers for right now okay
because you're you're buying the
property for how much it makes right now
not for what it could be
um if anything you want to buy for what
it's making now right because that means
the price
is going to be a lot lower so 650 of the
six so that's 6
500 a month for all 10 units right
yep so that's 78 000
a year annually okay so what did you
calculate so
far on what the expenses are going to be
for this property uh you know i didn't
really care about property taxes i know
they're like
what do you mean you don't care about
property taxes i i know i am
i know that people are going to want to
stay there and and
i know that i i can get people sure you
know who else wants to stay there the
irs
because they're going to want you know
what i mean so like what what do you so
what do you mean you haven't done the
taxes yet
i you know what the the numbers aren't a
big deal to me
i i i can get people i have guys i have
accountants and friends and
uh people that look to me uh i'm looking
at this i'm gonna get people to fill
the apartments sure so i'm i my job is
to give him to phil
i just said your job to get me the money
to help get him filled
so i'm a little concerned because you
you have no idea what the expenses are
going to be for this property
like does that just not concern you at
all or
it i get uh you know talking to my
friend's dad
or my friend uh my dad's friend who's
selling it
i i know what he's asking for he's
asking for 650 000
and i i just know i'm gonna be able to
get more than that i
you know he said rental income has built
like 16 grand
uh but i'm going to get more than this
so i'm just looking for the base bottom
dollar price
that i can get to be able to get this up
and running
and uh i'm going to be able to make
thousands so what's what's your
what's your plan for this so let's just
ignore the fact that you have zero
idea what the numbers are uh which
scares me a little bit
yeah yeah okay so all right so i'm not
crazy so so
what's your business plan here because
you're you're saying that you're gonna
make so much money
and i actually wrote in my notes just
for you sean that you're gonna have a
line
so long that people are gonna want to
live in this place
for eons to come right so so what's
what's your business plan
really it's to make money but if you
really want to know
my deep down plan do you really want to
know what that is yeah let's let's hear
your deep down plan
i want to i want to know this give me
your give me your plan
here is what it is i am starting a group
a group that is called you're
starting a group a group we'll just call
it a group we'll call it
now and this is this group is gonna want
to stay there
it's called the saints of aphrodite and
here's what i'm looking for what is
aphrodite
aphrodite is the greek goddess of
beautiful i am a beautiful person that
is why i'm an influencer and
entrepreneur beautiful people
love me i love beautiful people and i
feel like it's
my job to help cleanse the world of its
ugliness
so what i'm going to do is i'm going to
rent out these comp uh these apartments
to all the beautiful people in the
kansas city area i'm talking
instagram models i'm talking tick tock
stars they're going to be lining up down
the street
to want to stay here we're going to
change the world and
that's going to spread it's going to
spread to all the college campuses
this we got to stop this no wait are you
being serious
yeah on this show to try and get
investors to invest into
the manson residents the people
people are going to be lining up for
miles to want to stay
in this complex john have you have you
shared this with anyone else like
yeah other than us thank you that's the
question yeah i mean did you
is this like your coming out moment here
or like this this is part of
the group that i am i am gathering i i'm
an influencer people
love me everyone that i share love with
and with aphrodite herself
that is just they know what we're going
to do we're going to change the world
together
we're going to cleanse it and this is it
and you get to be a part of it this is
the first building john
i think i think i've heard enough um i'm
gonna officially say you are clock
blocked
yeah so sean i mean i don't know this
this is uh
um i you you're crazy yeah
you're not sean this this like this is
not gonna work maybe i'm more blunt
between the two of us but okay
all right well john thank you so much
for being part of the show
uh we appreciate good luck on on your
ventures
um i'm sorry you're officially clock
blocked
and we we wish you the best in all your
endeavors
thank you anyway you guys are the ones
who will be missing out you'll see me
soon taking over the world
with aphrodite oh okay all right have
fun with the good luck with the great
reset hey guys thanks for watching this
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