like that so that was kind of the you know my initial exposure to real estate and then we kind of just put things on pause for a little bit because my wife was in the military and we moved to from the east coast to Cheyenne and that’s how we ended up in Cheyenne was my wife was in the Air Force and then I was working you know a 9 to-5 for the first couple of years when we first moved here my sister-in-law got involved in real estate out in Seattle and she was buying Apartments out there she said you guys got to really get in on this real estate stuff you know and at the time I hated my job so I was like okay well initially we got we were Real Estate Investors first so we bought a some foreclosures on Market foreclosures back when they were all over the place I mean what year was that this was in 2008 okay in Cheyenne in Cheyenne so there was there was probably one out of 10 listings was a foreclosure so you had there was lots to choose from and so we kind of just dabbled in that and then we bought a tired landlord renovation type property where the guy was like I just finished the Rehab on this house and you know we want to just dump it and move take that money and get into something else so at this time you know we were buying our first property we bought was only 100 Grand you know sitting on the market and and then the second one we bought was 85,000 you know for a two bed one bath so these were like really I mean at the time I didn’t know that these were like really really good deals you know hindsight’s always 2020 you’re like man I should have bought like a hundred of these things you know and so that really got me excited Ed on the whole real estate journey of investing and at that time we didn’t have any direction we were just like just keep buying rent it out and we didn’t we we weren’t running numbers we weren’t running you know what was the cost of our taxes against the amount of rents versus you know utilities and all these kind of things we were just like looks cheap buy it looks cheap buy it you know and obviously that is not the right way to
do it however it did work out for us in the long run because we were just like
okay rent versus mortgage payment okay boom boom numbers make sense you know and you know at that time we were like
creative Finance deals like we did a fourplex on a listed fourplex we negotiated a an owner carry like with
the real estate agent and of course yeah and the real estate agent was like completely clueless on how to do an
owner carry I had no idea to really yeah dude it was crazy so I was like all right so here’s what I want to do this house has been on the market for I think
at the time it was probably like 75 80 days or whatever and it was a converted house and you know the converted houses
are actually really good for like intro to multif family people that are just kind of like I don’t know what’s real
estate investing get a converted house because usually you can get more rents because they’re but but the prices are
cheaper because they’re kind of goofy and so people that don’t understand what it is you can you know kind of not
necessarily take advantage of the situation but you kind of can because you can if you run your numbers correctly you can you make it work so
yeah we made an offer on this I think it was listed at 115 for a fourplex converted house back of the day and we
made an offer of1 5 they came back at 110 we did our
inspections it needed $2,000 worth of rehab I told them I would put $5,000
down and then they ended up not doing the repairs so they credit us back two grand so I ended up buying this thing
for $7,000 down I mean it was just a stupid deal like it was and we held on to that for four years on an owner carry
at I think it was like three and a half or 4% interest and then we sold it four years later to get into like a real
fourplex we made like $65,000 on that deal on my $5,000 investment so it was
pretty sweet so yeah it was good so we did that for let’s see here yeah because
I got my real estate license in 2010 and I’ve been real estate investing the whole time 2010 wow okay I didn’t know
that either when you get so what initially yeah a like a lot of people don’t get started right and because they
don’t know it but you didn’t know what you were doing you just started doing just started buying properties and as we all find out as Real Estate Investors
over time that’s going to save you whether you’re doing it right or not but tell me what made you what Dre you to getting your license in 2010 so at the
time you know looking at it from the lens of a real estate investor I you know they my mindset was well I can get
in on these deals ahead of time you know so that way I can you know have the get
first crack at these offers you know and so that was kind of my deal was I had my I set myself up on a drip and I had my
buy box and then I would just send myself deals you know so that I could be like oh this was a really good deal and
so that way I can get first crack added if it was something I could make happen and then you know so that was my thought
process process around getting my real estate license little did I know that having real estate license does kind of
put some restrictions around you know how creative you can get or or necessarily how creative your brokerage
will let you get on deals and so that was kind of a little bit frightening a little bit but you know I still bought a
few creative Finance deals since then I bought I bought another fourplex on
owner carry for 215 and then I sold so it about 9 years later for over double
what I put into it so you know there’s you know so my big thing was like buy value ad hold until you know you’ve
exceeded the amount of appreciation you can get on it versus rents and so then once I reach that kind of that Apex of
where I mean you know I’m putting my equity on La vents versus the increase that I can actually get because usually
you know more than about 3 to 5% a year increases between rent tenants and things like that is about all you can
get whereas depending on the market obviously we saw during coid that appreciation exceeded rents by like you
know five times and so it just didn’t make sense for us to like do the long game and just continue to increase rents
and got to pay pay down debt when the equity position just put me in such a better spot that I was like okay well my
return on Equity was so much higher so we cashed out on a few deals paid down some uh short-term debt to kind of
reposition some of the portfolio that we already have in order to you know set ourselves up for what’s going to come
here in the future got it so yeah when did you start kind of making that transition from long-term cash flow and
you still kind of do both or what’s yeah so we’re doing you know repositioning our long-term you know monthly cash flow
you know kind of repositioning our debt position and then now we’re flipping some houses and doing some stuff like
that you know looking for wholesalers to try to buy some stuff because we found a really good private money lender that
you know is working with us and so you know they’ve been happy with our product what we’re doing and and so we’ve been
really kind of setting ourselves up to do both really right now yeah makes sense so that way get the shortterm and
the long term you know as the market continues to transition so that way you get familiar with doing both and then
you know as things continue to move around you can take advantage of you know you can pivot here or pivot there
depending on what how things are looking so yeah exactly because yeah there’s there’s an opportunity in both an up and
down Market you get to play Both Sides yep exactly love it so and then I’ve been meaning I was excited to ask you
this one today so I’ve heard that you guys been doing more of the basically building so go pour the foundation and
bring out like a modular type house put it together turn it around quickly I mean how’s that going I’d love to hear
more about that so I think that’s a cool opportunity yeah so if you can find off-market land that’s really the key is
get finding off-market land and then finding getting a good deal on it and then if you can find land that’s in town
like in between homes you know stuff that’s you know just been sitting there and you know you’re driving around town
instead of you know you’re driving for dollars you can if you see vacant land and then depending on if you’re in an
area where there’s covenants or not so like the couple of deals we did we put the modular or actually was a
manufactured we picked up the manufacturer for 100 grand we did the infrastructure about 30 and then we sold
it for 190 so the spread there was all profit you know and right now with the
you know inability to find affordable housing if you can find you know deals like that where you can get it moved
have it set have the concrete board and you know whether it’s a crawl space or or if it’s on a slab then you can find
yourself a pretty good opportunity to make some good cash flow and not really get into you know quote unquote new
construction because we have a lot of that right now but if you can find these deals where you can pick up the land cheap because that’s the dictator of all
your profit is the land if you can pick up cheap then then that’s when you know all of your profit is made obviously all
your profits made when you buy not when you sell so you got to run your numbers and make sure that there’s margin there otherwise you know you won’t make any
money got it and how have your margins played out when you compare it to new construction looking at that cost with
this per foot versus the modular kind of model yeah so price per square foot is way cheaper so for example the one that
we bought was 1,700 Square F feet for 100 grand so when you run your numbers
at 1,700 square feet for new build you’re you know you’re at hundred almost $200 a square foot where versus you know
what is that $100 a square foot or less actually it’s less yeah you did less than that on yeah it’s like 1700 square
feet yeah yeah so so you can make you know it’s three times the price to do new construction that’s what I was
wondering the kind of the rule of thumb you SE so wow 3x and you’re and then do you have a rule of thumb on the
obviously people will pay more for new construction stick built but they’re definitely not paying three times more
what’s that kind of look like yeah so you know when you’re on permanent foundation it changes the value because
permanent foundation gives you real property so when you have real property versus you know it’s a structure
floating in the air you’re not on real property so if it’s a rented lot scenario then typically what we’re
seeing is you know there’s not a big demand for that because there’s no appreciation really over time whereas if
you have real property even if it’s a manufactured home you still get appreciation because you still have the
land Value Plus the structure so that’s the advantage is is if you can find the land that’s outside of like a Parker or
or something along those lines where there lot rents and things like that you’re see got it and let’s say that same example of the 1700 foot house that
you paid 100K for sounds like it would have been more like three times that to new construction what would the price
point they would be if it was again assuming they’re both on foundations they both get all the financing modular
versus new construction on as far as the I mean there’s obviously a little bit more in demand for stick build but how
what’s that look like so that it all depends like so if you’re doing new constructions because I’ve done both we bought the land we did a new build on
one and then we bought the land and we did the module on the other we sold the modular a lot faster because at the same
price point you get more square footage so because I was able to get way more
square footage for the basically the same price then the modular was much
higher demand because when you’re looking at it from the functionality perspective at the end of the day the
buyer doesn’t care as long as they get more for what they pay because you know the name of the game right is getting as
much as you can for as little as you can and and that’s how you create demand and that’s what happened in this scenario
well and the Lots were a little bit Goofy too so when we did that new construction project the lot was a lot smaller so we had to do a different kind
of project on that one and so we had to go up instead of out and anytime you can go out it’s just a better feel for the
amount of space so it was just much higher demand for having the a ranch style home versus a two story and the
two story was was a new construction versus interesting okay but that makes sense so you’re going to get if you’re
going stick built you can build way more you can get more square footage at it but which ultimately leads to more yeah
people are going to pay more for that yeah because you’re paying for you know and the other part of it too is just traditionally in our own minds we want
well it’s new construction it’s new construction you know it’s it’s stick buil it’s it was built by somebody that was there building each part of the
house and in this case with our new constru ruction we had to go up and so it’s always more costly to go up than
out and so it ended up burning through our budget pretty quickly uh we ended up having to put a sewer line in on that
deal and so it ended up being quite the experiment for sure I was going to do it all over again I definitely do
manufactured homes on on lots that are have no covenants that have no restrictions on manufacturing homes for
sure man this is good stuff JP and how’s it been like as far as sourcing the manufactured housing versus like the
timeline and how difficult it is to get a hold of that stuff and I’m told that obviously the timeline’s way faster to
put it together because it comes ready but what’s that look like getting it yeah so you have to order so we just got
lucky when we we found the land we found the manufacturer was actually sitting on the lot so we were just we were able to
just get that Source right away oh wow it was ready to go okay but typically right now we’re seeing six months to a
year ordering this so typically if you can you know Source your cash from other
deals if you’re buying land so that way you’re not having all those holding costs to wait for the mo you know the
manufactured home to come in that’s a better scenario than you know using hard
money or something picking up the piece of land now you got to hold you have holding cost for a year before you can do infrastructure all this kind of stuff
but in the meantime if somebody’s thinking about doing this kind of stuff just keep in mind that it’s going to take about three to 3 to six months to
get the infrastructure put in and so and then depending ending on the engineering
you know whether you do a crawl space or a slab what we found was a slab was just as expensive as doing crawl space and
that if you want to get the utilities out of the manufactured home and get them into the crawl space that way it
kind of opens up some more storage and space like that in the in the manufactured home it’s best to just put in a crawl space and you can put all
that stuff down there instead of having a take of space then okay makes sense got it but is it and it was that the
timeline more of getting the foundation poured and getting that stuff set up or is it more of going to the city and the
permits and utilities yeah permitting it’s lining it up it’s coordinating the delivery of the
manufactured home to be put onto the foundation making sure that the specs are correct so that way when they do lay
it on there that it’s not too small because if you have and that’s that becomes an issue and then there’s other things like do you want it vented do you
want it non not vented do you want stairs to go down do you just want to crawl space inside the property like how
do you want access to the crawl space and stuff like that so coordinating all of that with and then you have to have an engineering certificate that you take
to the manufactured home and say hey here’s our engineering specs so because they don’t want to deliver it and then
it’s not ready and then you have to make Mo you know some modifications or things like that so there’s a lot of
coordinating that goes along to make sure that everything lines up just right but in the end if you once you do one or
two then you kind of get a Groove like how it’s going to work what it’s gonna take happen yeah got it I love it I
think there’s other places ining I’d like to do it that are not doing it you know what I mean yeah and I mean if you can find you know some smaller towns
where you can pick up some land for cheap and then you know they don’t have any restrictions on it I mean I would
love to do a tiny home park you know because it’s like it’s still in the same idea but it’s a little bit more modern
looking you know it’s you know you can add some that I was actually part of a
mobile home Community where they had a pool and a clubhouse house like all the stuff that came with your with your lot
rents and things like that so I think I think those days are coming back especially the direction we’re headed with you know this weird space where
appreciation still continues to rise and interest rates are going up at the same time like that’s that’s never that’s unheard of yeah that’s my next question
I was just going to dive into that JP what are you seeing in the market know you study you’re very intimate with the Cheyenne Market but yeah what are you
seeing right now and then we can kind of segue into what do you see it looking like next year right because last year
you probably have saw this where things got very slow this time but they kind of rebounded it January and it was back to
normal in the fall in the spring what are you seeing so kind of what we’ve noticed is seasonality is starting to
kind of go away we used to see like big boom in the summer and then or you know starts to ramp up in the spring boom in
the summer and things are starting to taper off while we’re starting to see the seasonality is starting to go away
because external factors are really starting to dictate more of the activity rather than just the the normal EB and
flow of the market so because people are just watching like I think people have alerts on their phones they’re just
waiting for you know interest R went down by a quarter per let’s go you know so that’s probably you know more the
case than I would say than than not the other thing too is in shy and we’re
seeing we have more inventory whereas a lot of the national Trend right now is
that there’s less inventory and so which is weird because we’re seeing you know our inventory has increased quite a bit
over the last several months so so I mean I think right now we’ve got over 400 houses on the market and during Co I
think we only had we were averaging around just over a hundred or a little
bit less so they were going under contract as fast as they were going on Market yes okay keep going with that so
that’s interesting but it’s there obviously things have sat more and maybe the builders have kind of caught up and
built maybe over not overbuilt but but that’s interesting because I agree that’s a lot of and especially in Wyoming a lot of other places there’s
the inventory still really low but what’s caused it to flip and well I think part of it was the builders
were really cranking out homes during coid you know that and part of it was we had a bottleneck of Supply so we had
homes that were kind of like ready to be done or to be finished and they’re still waiting on cabinets and waiting on
appliances and waiting on some of those external things that were out of their control to finish the builds and then we
had a bottleneck of all of a sudden you know now all these houses that are new construction are now finishing up you know relatively close to the same time
frame so now we’ve been flooded with lots of new construction you know and some of these Builders have 10 or 15
houses you know just waiting for the buy the next buyers that are that are completed that are walk in ready to go
that are completed and U one of the challenges with new construction is that you know flexibility on Price is not as
prevalent as just regular resale because you don’t want to you know cannibalize
the next house that’s being finished here in the next three to four months is cannibalizing the price right so if I
because I have hard costs in this house so if I have to fire sale this new construction now when the next one’s
completed well now I just cannibalize my competition which I also kind of cannibalized myself because now I have
to figure out a way to now build for cheaper or have less margin on the next home that I put up because of the
comparables in the area yeah good point versus yeah if you just dump a remodeled house you can dump it and it’s move on
and it’s not going to impact your next flip really right yeah because you don’t have the entire build process and
holding costs on that property that’s super interesting so yeah what do you think cuz I think there’s been a lot of
lot of attention on Cheyenne over the last couple years is a great growing Market a great place to get into all the growth coming from the Front Range all
the benefits of being a Wyoming but what do you think it’s finally going to level out and you think will dip or you think it stabilizes and then what’s your
crystal ball tell you JP so you know obviously if I you know was a see the future I wouldn’t be in real estate I
would just no that’s right but my prediction is a
couple things uh the first one is you know in the interest rate sector obviously you know if you kind of do
some research every every all the experts say that real estate rates are going to level off around five to five
and a half percent somewhere in there which is then going to create a high
demand for homes again so I think in the future so there’s two things so if all
things were cre created equal I would say there’s going to be a frenzy that’s going to happen when drop which again is
going to create Demand on price which then going to raise price again and so I think what we’re we’re in danger of a
cycle of where inflation is kind of I think inflation’s kind of G to be out of control at this point where rates go up
demand still stays relatively level and then interest rates will drop down
demand goes up again now we have a supply issue of homes on the market because everybody’s waiting I well I got
to wait till you know see what happens well if everybody’s doing see wait what happens well then now you have way too
many buyers and not enough sellers so that’s the other problem the other side of this is that there’s a thing that’s
kind of swelling up in the short-term rental space where a lot of people that
have bought short-term rentals over the last three to four years are now feeling the squeeze of too much airbnbs you know
vbos on the market right now and they can’t make make the numbers work so the possibility of some of that kind of
stuff that’s going to be hitting the market in the next six to 18 months could cause a disproportionate flow of
Cheaper homes on the market if that were to happen I don’t know that’s that’s where it gets a little bit interesting
because like we’re experiencing it with our airbnbs where we bought a bunch of airbnbs or converted existing properties
that we already had into airbnbs now the demand has waned quite a bit so we’re like reevaluating whether we hang on see
what happens with the market or if we just sell but some of these properties we’ve converted have quite a bit of equity going back to the conversation
earlier yep kind of thinking that maybe we just dump some of these properties or turn them back into long-term rentals
but where the problem is is that when they bought these properties they were looking at it from a short-term rental
perspective not as a permanent long-term rental perspective and they don’t cash flow as permanent rental you know
long-term rentals so that’s where they’re going to kind of be if the market doesn’t change in that space they’re going to be forced to sell
because they can’t make the payment without the short-term rental market that’s interesting so if we get hit with those you know that’s kind of the
outlier that kind of you know where makes it really unpredictable moving forward whereas if if if you take that
out then the reality of it is is that you know we’re gonna just have high demand again if interest rates go down
wow and it probably goes back to the the builders and that they’re not making stuff fast enough right and they still
cuz I’m with you that’s kind of my prediction that when rates drop back down all this pent up demand comes into
the market and it pushes things back up and we’re still so like we haven’t had a chance and Chey may be a little
different we haven’t had a chance for inventory to build because of interest rates long enough because there was such a a bottleneck before right so it seems
like it’s I don’t know I I like right now because when we’re negotiating and talking to sellers there’s nobody there’s not a bunch of buyers lined up
anymore right and we’re the only one talking and that’s why I’ve been trying to talk to other investors other people buying now it’s like get in now cuz
you’re the only one talking to them now but that can flip like that could flip next spring it might flip might flip
next spring anyway because the weather’s better or the seasonality you talked about then there’s an election and they
stop jacking up rates and boom we’re back to 2021 22 oh 100% 100% And I think
just if I was going to look at this from a political standpoint I think if the next cycle which I think you know from a
crystal ball perspective 7525 that we’re gon to have some kind of conservative
president this next cycle if I was going to guess and if I was going to also kind of get in the weeds of that I would say
that from an Enterprise perspective I think they’re going to rates will drop my prediction is they probably won’t
drop next year but they definitely will drop the following year because of course you have the hey I’m in office I
don’t know that this is oh this is really cool I’d never been here before and then you have that whole like kind of like figure out figure it out for the
first few months and then kind of once the groove starts you know unless it’s Donald Trump again but other than that I
think if we if we were going to you know come with somebody that’s brand new I think the first year is going to be a
dead year like not much is gonna happen um just because you know all the advisers are going to be getting
involved and saying hey this is what we’re thinking this is what we think nope I don’t like you you’re out of here I got to hire somebody else you know and
all these people are going to get appointed to some of these roles and things like that so I think that’s going to have some impact on people’s
decisions but I think we have a good eight months I think from now until middle of next year where if you’re in
the investment space and you’re not out there hustling and door knocking and calling and you know getting your Marketing in place to to try to get a
hold of some of these people it’s now is a great time to really have some good conversations about how whether you you
know you can get creative or you know you can you know solve people’s problems and then you know see how it can be a
win-win for everybody and all the scenarios because there’s going to be some deals available and um you just got to you know head your bets and just get
after it try to make things happen love it man good perspective cool JP well let me ask you this one so I’m C curious
like CU we have conversations with because I brought this up when I first introduced you right you’re a you were an investor first became an agent right
so you understand the game how do you kind of reconcile this or work with other agents because obviously the struggle always is as an investor you’ve
kind of have a different set of not well just you approach things different than an agent right so what would you kind of
say to like agents that maybe don’t quite understand the investing game or maybe whether that’s creative Finance
whether that’s wholesaling or just other ways of selling house in the traditional way and how we kind of everyone kind of
works together and coexists any thoughts on that’s a loaded question so I guess the biggest thing is looking at you know
first of all you got to establish your buy box if you’re gonna remain as an investor and then I also think the other
part of it is then establishing relationships with other Realtors if you’re a realtor you’re an investor
establishing those other relationships and say Hey you know I’m a cash buyer if you have listings that you think will go
quickly like let’s just skip the formalities and just call me and see if it’s a deal that I’m looking at and see
if it works for your seller rather than going through all the rigoll of listing it and showing it doing all this stuff
because a lot of times there’s enough space in the deal to not only get a commission as a realter but then you
pick up a a real estate deal the other agents’s happy because they’re getting paid their seller’s ecstatic because
they didn’t have to dink around with you know having to do all these showings and then you know negotiate and and
especially now with the amount of closing cost that people are paying right now is insane I mean you know I
just saw one for had a gal ask me for 16,000 in closing cost That’s not
including commissions on both sides that’s in addition to and that’s not including repairs so at the end of the
day like it was like a $330,000 bundle that the seller would have to Pony up in a listed property when in fact they
probably could have sold it before they hit the market without having to pay any of that stuff and then had an additional
you know 15K in their pocket wow that’s a really good point you bring up yeah it’s just if you can find the match and
match the right people together yeah and sometimes real estate agents are willing to you know if I’m the investor and I’m
an agent you know sometimes depending on how the deal looks I might forego my commission to negotiate a better deal in
the house yep you know so then they get a buyer they’re only paying one side of the commission and then the deal gets
the deal works for me because you know I’m looking at it from a different lens than somebody else might be got it I
love it cool yeah and I guess to further go into it better way to frame it up is like working with when you work with
other investors or other wholesalers that might have a deal that’s off market right and you because you understand how
the game works and what they’re trying to accomplish and what you’re trying to accomplish for your client or or you as an investor but how do you kind of how
would you guess you explain the benefit of working with a wholesaler somebody else who’s finding a deal or it doesn’t
have to be wholesaler could be any other agent but somebody who’s yeah essentially trying to find it off Market find that in buyer and not do it the
traditional way where you just go put it on the MLS and pay both sides and like you said go through the whole riger role
so if I heard you correctly you’re saying you know how would I as a real estate agent work with a wholesaler if
I’m if I’m the investor exactly yeah or an agent right as you’re working just like in the ways we’ve worked with in
the past right because it seems to work okay so we try to work with some agents and say hey we’ve got an opportunity
we’re working with seller Runner contract we’d love to sell this to your client we can create this win-win right but when you work with so with some
agents they they haven’t done it or they don’t understand it or they think it’s not legit and it’s just not the traditional way versus you work with an
investor agent like yourself that understands the game and can accomplish it right yeah so I think the biggest
part of it is and I think it’s kind of you know goes back to the deal that you sent me this morning which is you got to
be able to understand it as an agent in order to explain the opportunity to the
buyer so that way they can say you know whether they want to get involved with that or not but then also you know you
you have to kind of mitigate the risk because that’s usually people don’t get involved in things they don’t understand
so if they don’t understand it or they or they’re like no I want it in my name like I need to have the whole thing like
creative financing I don’t even understand what that means and and so then they don’t get involved so part of
that is one is understanding how the deal is structured the other the second thing is getting an attorney that also
understands it so when you’re drawing up the paperwork that there’s you know there’s some consistency there in order
to make sure that the deal is longlasting that there’s not kind of you know ambiguity over time that it can
start to deteriorate as you try to practice the wording in in the documents
things like yeah that’s a really good point how to you’re right because you got to a you just got to be able to explain it to the end buyer and have
them feel comfortable and then that’s a great way to mitigate it hey if you have again it just kind of takes out the both
sides working in different directions get an attorney involved say hey this is how it’s going to hold up this is how it works this is how this works if that
happens and get them involved and that’s a really good point on the way to to where everyone can feel comfortable with it yep exactly love it because otherwise
I mean it can get really messy if if I’m understanding it one way you’re explaining it to me a different way and then I go and explain it to the buyer
and they’re like I don’t know what you’re talking about we good show me something else you know totally makes sense cool well awesome well any other
we can dive a little deeper deeper later what else would you I guess to kind of wrap it up JP what would you I guess what kind of big moves are you planning
to do in the I’m just curious in the next with the market we kind of talked about the opportunity I’m curious what you’re looking forward to doing yeah so
a couple things the first one is that we’re definitely still interested in buying good deals wholesale deals you
know you know we’re not necessarily tied to Cheyenne if there’s a deal out there that’s a good deal you know our buy box
typically you know is 200 Grand or less that has a value ad opportunity you know we want to be able to make about 50k on
every deal if if not more than that and then also we’re moving into buying business businesses so anything between
one and five million we’re kind of looking at buying businesses hopefully with with real estate cash flow of like
500k a year or more in any kind of business as long as it comes with real estate pretty much you know I don’t want
to get into anything I don’t understand so or is out of my daily routine so like
we’ve looked at liquor stores we’ve looked at um some retail space definitely want to stay out of the
hospitality or restaurant space just because very EnV environmentally us
those kinds of environments start to change like we went through during coid you know I don’t want to be stuck in a
situation where you know there’s no cash flow for a year because you know there’s
things out of our control so yeah those types of things you know manufacturing you know Automotive these
are kinds of things that are still I was a mechanic in the Army for 13 years so I’m very familiar with that kind of that
space so things like that um but you know we’ll look at anything honestly if it’s got 500,000 or more in cash flow a
year we definitely more than nice I love it well that’s cool I did I wouldn’t if I wouldn’t ask that
question I would have guess that about you moving making some moves in this and I love how you’re you’re rolling in the real estate part right you got the
stability if it comes with the land and or the building and yeah and then create you just get another little cash flowing
machine well cool well JP thanks for coming on today man I love your perspective from the local market stuff
to how you kind of started and got things rolling and moving and and didn’t didn’t have to you weren’t perfect in
the start you didn’t know what you’re were doing but or I mean you knew enough to get going right and like make an
offer yeah exactly but then again with real estate took care of you over time and it’s cool the moves you’re making
now so really appreciate you coming on today JP thanks man thanks for having me as you may have learned by tuning in
this episode of Gregor sense the easiest way to make real estate investing hard is by going at it alone so as you
continue learning and seeking knowledge of the industry I want to encourage you to build relationships with other
professionals who are passionate about real estate whether that’s an agent a business owner or a managing investor
like myself there are Pros that want to see you succeed and are willing to help you by sharing their experience you can
always reach me by visiting Casey Gregerson tocom and scheduling a call I look forward to connecting with you and
continuing to share my experience with you here on Gregor sense mobile until next time I’m Casey Gregerson thanks for
tuning in
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