Dominating in Wyoming with Casey Gregersen

chunk correspond responds to buy and hold multi Buy and Hold single creative type deals that sort of thing you bet I would say probably at this point it’s probably still around 50/50 between our our multif family properties and our our like more like single family dlex stuff it skews it a little bit when we’ve got a 66 unit and like a 45 unit but we’ve recently added those over the last two to three years and and that’s definitely changed the business for us because it’s it’s very scalable right when instead of doing for example I bought a 66 unit and we probably rehabbed I bet 30 of those we rehabbed and for me to go do 30 fix and flips and have contractors going every which way would have taken it would have been like a full year and probably used all four crews right but I had one crew doing it so so that’s kind of that ratio and then when it comes to actually how we take deals down this one’s pretty crazy and i’ I’ve run in math on the nbers in the last year over 90% of our deals that we now buy we use some form of creative finance and this really was birth from the interest rates going way up right is to where it was no you can’t and people watching this today are probably like I want to get in real estate but I I can’t make a deal pencil because I’m borrowing at seven eight% maybe nine or 10 right so what we do is we do a lot of times I’ll take over the seller’s current financing or or the best scenario is when they own it free and clear and then I can structure deal to pay them over time even pay them interest and then I can still make the deal pencil for me so I would say 90% of our deals are that and then only about 10% are like a traditional like cash offer all right and are you doing these creative type deals primarily with single family homes or do you find some good multif family opportunities in that space too yeah that’s the cool part is yeah we do both and one might think that it’s easier on a single family and we definitely do quite a few I would say there’s more creative strategies when it comes to single family but the cool thing about multif family is you’re dealing with a bigger asset in a lot of times a more sophisticated buyer and it’s kind of cool like for example capital gains there are some really cool creative strategies that I can do with my multif family sellers where they’re actually like yeah we would prefer to seller or Finance this because if we sell it all at once we’re going to take a big capital gains hit versus if we sell it to you over time you stretch it out and you reduce your capital gains so we do it on both nice smart smart smart all right well you touched on earlier some that that magic term that you’ve got a verdict Al integrated company and sounds like you guys do all sorts of great things I imagine you didn’t start off with a vertically integrated company I imagine this is something that you you’ve developed over time and maybe you can kind of help connect the dots for me so what what did you take from your corporate experience and and the work that you and your wife have done with franchises and how have you applied that to your real estate investing business you bet I mean one of the best things I’ve done is is yeah working in Corporate America I realized that a it wasn’t for me for the rest of my life right but it taught me a ton of and especially as an engineer and working in oil and gas for a and I worked for a big company like shell and there was a lot of structure which I do things a lot differently but some things I still do is like Sops and systems right one one of my favorite books I read and it was during covid was 4H hour work week and he talks about like systems in Virtual assistance so one system I built was I manage all my I have these 200 50 units now right so I I’m still my own property manager but I don’t do it I actually have virtual assistants across the world who manage all that and they just coordinate with my contractors on the ground so that was just an example of like building a system to where I didn’t have to be doing the day-to- day the cool thing is I just get an update for my coo every week on hey how are things going where do I need to support as we grow and yeah and then we’ve so that’s one example the other thing I would share is is by like owning the franchises so this might shock people but being trained as an engineer we were not I didn’t get a bunch of training on marketing and sales right so that was no surprise there whatsoever most dbas don’t get a hell of a lot of practical trading of marketing and sales either that’s right and I remember when I first read Rich Dad Poor Dad which is one of like for me like a lot of other people it was a light bul moment reading that but I remember him I always tell this story I remember vividly him talking about like doing marketing in door to-door sales and it was something I never learned until I bought our first franchise which was a pure Bar franchise and we opened one in Midland Texas we literally opened this store from the ground sory what kind of a franchise I haven’t heard of that one what is it yeah it’s called Pure Bar it’s it’s similar to like Pilates it’s a boutique Fitness for Women got it got it y so my wife loved it right she and once I I W when she came home that first time after doing her first class she was so in love with it I’m like this is perfect for you and it was I thought it was a cool scalable model and yeah so we decided to open one in Midland Texas of all places and and it was great it was a market that really needed it but I had never sold or done marketing and it was basically baptism by fire we had to go in there and quickly you learn it’s it’s amazing how fast you learn how to sell when it’s like your business on the line and it’s kind of sink or swim so that taught me a ton taught me a ton of like how to how to do the marketing how to do the sales how to do payroll manage a team and then what I really was able to do is I was able to Parlay that that knowledge right we don’t we don’t own those franchises today but it taught me a ton but what I was able to do is I took all that sales and marketing and I appli that in my real estate company to where now we use those same strategies to go find more off-market properties and find more Acquisitions right and build my team so it’s kind of parlaying all that together is what’s it’s ultimately let’s let us scale to where we’re at today yeah most definitely so you’ve got lots of different moving Parts with your business Casey so you’ve got the lead generation where you’re finding ideally motivated sellers or sellers with Equity or sellers who are willing to do creative type deals you’ve got you know team management and recruiting and you know taking care of all the different Crews that you’ve got doing construction type stuff you got Property Management outsourced to a lot of vas or several vas in different places then you got the financial side of things raising Capital to do all these deals there’s a lot of different things going on so maybe we’ll just take a look at a couple of those so these days when it comes to lead generation for sellers what’s working best for you and your company you bet we we man we we’ve always done multiple multiple marketing channels right so I’ve I’ve learned this from a lot of my in other masterminds and mentors of mine like you don’t want to just do for example we do texting we do Cole calling I have our SE website we do Facebook ads we’ve done radio ads we still do direct mail that’s one of our best ones still to this day in a place like Wyoming where there’s not a whole lot of other people doing what I do we if we send postcards you’d be blown away by the response we get when we send out a postcard campaign of how many people reach out and they’re like yeah I mean tell me more Casey how would you buy my house for cash or how do you how does this work and then we’re able to get on the phone and and and and those are my probably my favorite deals because they come to us and they’re like we’re solving their problem right and so yeah that’s kind of the main ways we do the deals but I’ve got a full team of like a of virtual assistants who help do the texting and calling to like lead managers who like are managing scheduling appointments and now actually in 2025 I’ve been kind of stepping out of the Acquisitions or closing seat and moving other people in CU my goal is as I mentioned I want to do 100 deals this year and for me to do that I’ve got to be raising capital and working in other parts of the company so I’ve got three or four different people that they’re the ones like making offers helping solve people’s problems and then when they get stuck that’s when they bring me in and be like hey Casey I’m not sure how to solve this problem what do you think we could do nice nice nice nice all right so that’s and then what’s what’s been your takeaway and your learning it sounds like you got multiple Crews boots on the ground doing construction stuff is that in multiple markets or are they all fairly Central it sound because you’re in Texas talking about investing in Wyoming do you you have a pretty broad spectr of of Market areas that you’re working in or how’s that work you bet and a lot of people are probably like what how is this guy live in Houston invest in Wyoming right obviously a I grew up there and know the market but the second biggest thing is I’ve got and the reason I could scale it is I’ve got four different Crews and they’re to answer your question we’re spread out from the northern part I have one in the central we have one in the South and now we have one in the southwest part of the state so they can kind of move around and support different areas I’m actually looking to recruit a fifth crew because I actually just the funny thing I was just on a call right before this talking about another area Wyoming where it’s just it’s actually hard people are struggling to Fix and Flip there’s properties that need to be renovated and the demand is there but there’s just no contractors right and the ones that are the contractors that are there are either 3 to 6 12 months out and anybody who is available like you can’t it’s h you’re going to probably pay you’re probably going to pay that guy and then have to come pay the other guy to come fix it you go fix it yeah yeah that’s a common story Okay cool so everything that you do is in Wyoming is it am I understanding that correctly yeah and we we do the surrounding states we do Montana and South Dakota and a little bit Nebraska now too so we’re kind of branching out but that’s the core Market where we’ve yeah we’ve got the boots on the ground it’s kind of our own little niche market are all of these crews are these full-time employees for your company or are they kind of outsourced Crews that that give you preference it is a mix of both we’ve decided to bring in like I have a team lead in each of those four areas when I say four crews we got a team lead that’s like typically those guys are some of her 1099 W2 depending on if they do other work but a good share of them are actually our W2 guys and they just do our jobs and and that was one of the things I I did as soon as I had enough fix and flips and rental properties going to support like one full-time person that’s exactly what I did because now man as you can imagine managing all those rentals if I’ve got a in-house W2 guy that I can send out to do these jobs makes things a lot easier and then what he’s done is he’s hired other crew members to where each one of those team leads runs about between I’d say four to seven other like in like day laborers or he’ll find the subcontractors but yeah but yeah we all told we have about 43 people total between the sales company the marketing and the property manager and our construction teams nice that’s that that’s beautiful and how long have you been doing this for fulltime Casey you bet just two year a little over two years ago I left my aell job which was I I had a really cool gig where I worked actually I worked for three this you love this I work for three weeks in the office here in Houston like five minutes from the house I keep I’m pointing right back here it’s really close and and then I would have 21 days off and then I could and that was that was allowing me to keep growing in real estate but the kicker was I I was I would go in at 2:00 p.m. and I would get off at 2:00 a.m. right so I was my kids were already at school and by the time I went to work they were still at school so I completely missed them and I’ve got four boys and I love like coaching them and just I was missing all those important moments right so that was what led me to actually I had scaled this real estate company yeah could I have played it a safer and just kept that W2 going I mean like a lot of other people yes but ultimately I’m like I I’m not going to miss these moments and and my real estate company was really Tak off and it was taking more of my time anyway nice no that’s beautiful beautiful all right the other big piece of the puzzle is the the raising Capital side of things so you’re you’re doing you’re going great guns that requires a pretty consistent injection of cash even if you are doing a lot of sub to and creative financing type deals you got to come up with money for down payments and deposits and then Renovations and all that kind of stuff what are you typically doing for for capital for your projects you bet and the way I explain it it’s a it’s a double-edged sword in in Wyoming right the good and the bad so the good as I’ve told you guys low competition I’m one of the only ones doing it I’m the only one who’s got an integrated company that can find the deal fix it up and rent it out but the flip side is it’s more difficult like I would love to do more Wholesales like a lot of other people do where like okay for I’ll give you quick math if I’m doing a 100 deals this year I would say 20 of those 20 to 25 of them will probably be wholesale deals where I just find the deal and I quickly sell it right but because it’s a the kind of the downside if you want to call it but I I honestly think it’s still an advantage is I have to take down a lot of these deals myself to where there’s not a fix and flipper that’s got contractors that can go do what I do so as by default or maybe by Design we actually we’ve built out our crews to do more deals so so it becomes very Capital intensive for us to go flip let’s say out of the the 100 deals I’m going to go flip 60 of them this year right so we’ve got the cruise and we’ve got the we got the manpower to do it but yes as you said Dave it’s very Capital intensive so that’s where our fun comes into play and we work with we work with limited partners two ways right the simplest way is we just do Straight debt deals where where the the lender or the the private money lender I like to call them they are A lender on a specific deal or maybe they’ll be spread out across multiple deals and cross collateralized that’s the simplest way we do it and we typically pay between 12 10 to 12% for those and then the second way we work is like we’ll go bundle up like I just did this at the end of last year for some tax purposes for actually was for my investors because they had really successful years the priv previous year and what I did is I bundled up about 10 properties we moved it in as an equity play Within my fund and we rolled that all in sold the properties to the fund and now we’re going to keep those as a Buy and Hold for the next five years and then look to exit then and we’ll either trade up to some bigger stuff or we can liquidate and and do another portfolio very very cool and what do you find is working best for you coming from your background especially in oil and gas you’ve rubbed shoulders with a lot of high income type people what do you find works best for you with connecting with private money lenders these days yeah I love this is why I I do so much stuff on my YouTube channel and Instagram and Facebook and some people are like I can’t believe you put yourself out there so much but I just love because it and it’s timec consing I spent a lot of time and energy and money to do it but but I’m able to communicate and talk to those people that I used to work with I mean there’s only so much time in a day right and I’ve got four kids in a busy family and businesses to run but when I take the time to to create the content and share it like I’m able to stay in front of these people and and I’m having this I love it because I’m having this conversation with them while I’m asleep or while I’m working right through my social media and what’s really cool is is a lot of those people will come and reach out and they’ll book a meeting with me and then we can dive in and and start talking about hey like well what are your goals like are you are you trying to create do you want to be a fix and flipper and go make the big margins I make and do all the work I want to do or or do you want to just be really passive and just put your money to work and not have to realize it all it’s I just love doing those calls and especially talking to I mean any profession but especially the oil and gas people where I’ve sat in their shoes and I know what it’s like and I know like I know what it’s like to go through the layoffs I know what it’s like being in an industry that’s very volatile I know like the guys in the field I know what it’s like being away from your family so that’s where you can see the passion coming through but that’s where I really love connecting with those people and ultimately helping them create their Financial Freedom beautiful Casey if people want to connect with you and find out more about what you’re up to where should they go you bet just go to my website or any of the social media it’s really easy to find just spell my name there’s you just got to spell Casey Gregerson with all ease and you’ll find me so Casey greers.com yeah go on the website and let’s connect awesome Casey thanks for being on the show this been a lot of fun you bet thanks Dave all right everybody take care we’ll see you on the next one hey there I really hope you enjoyed that episode and as always if you want to listen to more daily interview content make sure you subscribe and if you’re an active real estate investor and you’re doing deals and you’d like to get featured on this show then just head over to Dave inters you.com now at money partner formula.com we help Real Estate Investors to create a process for predictably getting Capital so they can do more deals without relying on hard money lenders or the banks we do this by building them a private Capital Marketing System now if you want help tur yourself into a big money Capital attraction machine then book a call with our team to see how we can help just visit money partner formula.com to find out more all right take care and we’ll see you on the next interview.