What is going on everybody? This is the payneless flipping Podcast. I’m here with Joe Jernigan. What is up, brother. Hey, how you doing, man? Good man, everybody that’s listening. Me and Joe have been working together. He’s
a member of my program. And we want to talk to you about it today about a deal that we did. I think, Joe, Joe, Was that your first deal we did together? We closed on? Yep. Well, we’re gonna dive into this talk about how we got through that strategy. But
before we dive into that, Joe, I want I want to introduce you to investors, Dr. Nation, I just want you kind of tell everybody a little bit about who you are, where you’re at and what you’re up to man. Yeah, yeah.
So I’m Joe Jernigan, down in Mobile, Alabama right now. And, um, I actually met Nathan through Jerry Nora, and of all places actually met him through that circle. So I’d started really getting into real estate last year at the end of last year, and then connect with Nathan and just hit off with him. I loved the way that he, he was always just given a lot. And obviously, I was looking for a lot of information. And so it was a good, good fit and got connected with him and gave him a call and then just start connecting with it every day. I love it,
man. So yeah, exactly. And I’m Joe, Joe, me just like connected for everybody. Like, sometimes you just vibe with people, you know, you see somebody that’s a hard worker, and you’re like, Man, I like that guy. And I feel like that’s what happened with us. And, Joe, we were actually able to do a deal together through someone in that program as well. So we were on a call, were you on that call that we were with, on that person that we did the deal with?
I remember he was on a call, but I don’t remember who was I just remember being on the call. And that’s about it was on a call. What are your calls?
Yeah, so everybody just listed. So I’m always got my ear to the ground looking for opportunities, because that’s honestly one of the best ways to do deals, especially without having to pay for leads or spend money on marketing. So what would happen? What happened as I was on a call, I think it was on a coaching call. And one of the students had a deal. And they said this, they were like, Hey, I got this deal. Should I cancel it? And she was talking about how it was a good deal, but he just couldn’t find a buyer was kind of tricky. And I said well, we’ll don’t cancel yet. These the numbers, everything you’re saying makes sense. Maybe you just haven’t been able to figure it out because she was newer. So she I asked her to send me the information of the deal. And the house ARV was like 250 300,000. And she had it under contract for like 121 30 for pretty much what the seller owes. So that seller was actually in pre foreclosure and was going to lose the house. And she wasn’t able to find someone in time. So she was going to cancel it. So I said don’t cancel. I looked at it. I said it was a deal. I said, just talk to the seller, give us a little bit more time we’ll be able to find a buyer. So then Joe, I reached out to you and I said Hey, Joe, this is a good deal. Go find a buyer and we can JV with this. This student we can JV with this girl. So do you remember kind of how that when Joe?
Yeah, yeah. 100% Yeah, no, I remember I remember being on the call and actually like all that taking place. And then you just said, Hey, anybody wants to find find a buyer for this? I’ll split it with you. Right.
And this is it was in Richmond, Virginia. So this was an area that is pretty dang populated. And it has a lot actually, Joe, I’ve never done a deal in Richmond, Virginia before, that’s fine. I was like, Hey, let’s work together on it. Dude, when we were calling because I was calling to looking for buyers, this place was hot, man. I feel like everyone I talked to was like, like looking raring to go, it didn’t seem like the market really had any slowdown in that area. When we were doing this deal. You know, like the markets are slowing down a little bit at that time, you know?
Yeah. So like Everybody I talked to you same way, like everybody was I talked to got a lot of feel a lot of hits and a lot of feedback right away within just probably really in a couple hours in that afternoon.
Yeah, so Joe kind of explained to everyone, how did you find the buyer for this deal? Well, first of all, before we get into that, I didn’t even really put this deal under contract, do a JV agreement with the student I just said, Hey, we’ll find somebody right. We didn’t we didn’t really worry about locking them up. A lot of people do that. But we’re like, hey, we’ll just find somebody. So you started looking, I started looking. And yeah, tell me about how you found this buyer that we eventually used.
Okay, so basically, I would always did as always just hopped on, privy and use a combination of privy, best leads and Redfin and this one I was using proven because it just kind of been on where I was looking at which worked better but anyway, I just I had like a free trial preview I just couldn’t afford anyway so let me go through this and I’d literally just basically do a you know, a square forget like a half mile circle or something around it looking that pulled up all the other homes that look like had been rehabbed in that area and just went through and started calling all those agents reaching out to him saying, hey, you know, would you be interested or would your buyer be interested and another deal and I had probably half a dozen you know, out of that call is that we’re like yeah, definitely would went back and forth ended up I think really only getting you know, after a couple of days of going back and forth for you know, a week or so really only get like one or two that legitimately had people I think we had like maybe two or three people actually go by and take a look at it. But it was actually like I said literally from the time I got the call what it was like within a few hours after that I was already getting hits on and people responding real hard. area and you know, pretty made it super easy. Redfin made it super easy. Like it was just literally you just draw the draw the half mile circle, and then you just start calling people. And, um, it was it was except simple, I guess it was easy, but it was simple. Right? Right, right.
So so the thing, the key for me is like, Okay, you have to find that opportunity, whether you’re going to make that opportunity yourself where you’re finding it on MLS, or you’re like doing off market, or you have someone that has a deal. And they’re not as I don’t want to say as savvy, but they just don’t know the strategy of what you know what you did right there like a call, or maybe they try a couple.
But what we do is, you know, a lot of the times we just go to the area, we call agents and those agents that have active listings, we ask them, if they have their buyers want any more and more properties. And usually these agents are active, and they have relationships. So they’re able to ask, especially in a market that you don’t have relationships, like this was in Richmond, Virginia, I’ve never been there. I’ve actually never even been Richmond, Virginia, have you? No. No.
So it’s pretty cool that the fact that you know you and immobile, you’re most immobile at that time, right? Yeah. That your mobile home in Salt Lake, we can call around and just say, hey, agents, do you have any, any of the buyers that you are representing at the moment? Are you looking for anything, anything else? And you know, that’s exactly what happened. So this deal was actually pretty, this is pretty interesting deal. Because after you had found the buyer, there was like, went up, it was like a little roller coaster, right? Because you thought and I thought like, okay, it wasn’t going to work out because the seller, when it came time to close, the seller was like, I’m not moving out.
And the reason why the seller didn’t want to move out is because there was like, honestly, really no incentive for the seller to move out in his in their mind, because they’re like, I’m gonna lose the house. I’m selling this house for like what I owe. So it’s like, why would I get out of here, I can just stay here like another 90 days, and just at least have free rent, right? That’s at least the way they saw it in their mind. Which is unfortunate.
That’s a lot of the time a lot of people just like dragging your feet when they’re about to lose their house, and they got nowhere to go. So the buyer, the agent is representing the buyer, they were going back and forth. And the buyer really was like, I really want this house, I need them to get out to the buyer. The cool thing about this point is we just connected the agent to the deal and to the seller, or sorry, the the wholesaler that actually had the deal.
And we kind of just chilled, we chilled and let the buyer that was actually by the agent take care of everything they took, they talk to the seller took everything. And eventually I just hit you up and I was like, Hey, Joe, the deal close man. And just like that, and that’s kind of the cool thing is like once you have those relationships built and you connect people, you kind of just gotta wait. Right? There’s not much you could have done or I could have done but the deal did close because the buyer took it the rest of the way.
And it was kind of a cool experience. I don’t know when I told you if the deal close if you were like shocked or not, but I was I was honestly kind of shocked at the bill. The buyer actually took it all the way. You know, I’m saying yeah, no, I definitely was. Yeah, for sure. It was ended up being a $10,000 deal that we split with the the other student, the wholesaler, Jimmy and Joe mean, you split our five and then they got five.
So 5k We both got 2500 Nothing crazy, right? But it is a cool test or guest experience to be like, Okay, look all this. She was about to lose the deal. And all we had to do is make a couple calls and connect to the right people. And we got the deal done. Right, right. Yep. So So basically, for everybody that’s listening. I just wanted to bring Joe on here and talk about his experience. But also tell everyone that if you want to do deals painlessly, in my opinion, like if you want to do deals that don’t require a lot of you having to go out and find the buyers, sorry, the sellers and negotiate, I would be you know, vocal about the buyers that you do have be vocal about where you’re looking for deals.
And if you see anybody that has deals in those areas, just be like, hey, it’s a cool if I send my buyers that I know, to, you know, make offers on those properties. So Joe, if you were to, you know, go back and work in Richmond, I would just be like, Okay, get tight, you know, call this agent again, be like, Hey, what is your guy looking for, and just stay on the MLS, they like looking for properties, and anything that meets their biowatch criteria, I would do that. Because, you know, if you have limited time to do real estate, then you don’t have that much time to negotiate and find a lot of those deals. That’s like a majority, in my opinion of what takes like, everybody’s time is like finding the opportunity, right? So if you leverage other people that already have it, whether it’s on the market or other wholesalers, I think that cuts the time in half, you know, so anyway, so Joe, you’re out here, man, you just had
a kid, right? Yes, yep. Yeah, just had baby number four row
and I just had a kid. So everybody the reason again, why we’re talking about this is it does take a lot of time to kind of get in the game and you know, figure this stuff out. But again, if you can develop those relationships with your top buyers in the area, and you can figure out what they want and you see those opportunities that come across and you can just kind of connect people that I think is the most effective and efficient way to get so Joe’s little Joe’s a little test Meet up that, you know, we both did it together with, I would say Joe minimum minimal effort, I guess on like, it was like two weeks that you did it right. And then got paid later on. Right. Yeah,
I mean, it was yeah, like you say it was really minimal effort. I mean, it was a couple hours that first day call on and then from there was basically just a text every now and then I mean, if you text each week, and then for like, a month didn’t hear anything, and then it closed. So yeah, like so it’s very, very minimal for us.
Exactly. So that’s my advice to everybody here, check it out, we were able to do a deal together minimal effort. But the key is finding opportunities. And how do you find those opportunities? Well, you got to know what to look for. Right? Because if not, then you’re freaking scrambling all over. So that everybody, if you’re interested in learning more, check out painless flipping.com. And we have a masterclass, we kind of teach the strategy a little bit more in depth hit up, Joe, if you’re mobile, if you want to just check. Joe, do you have any golden nuggets or you have anything you want to leave everybody with that can not only help them in real estate, but just in life? Do you have any words of wisdom you want to drop on everybody?
Yeah, I mean, part of it is just kind of like a plug for you. I mean, just everything you did, for me was huge. And having that relationship, we talked about leverage. I mean, the whole reason that even happened is because from day one, I got to that mentorship with you, and you know, just had so much access to you and help and guidance. So anything Tom ever needed anything I had you there to walk along with, but also because of having the calls, that’s why that happened because I was on that call with you.
. And then you’re always looking to share to give to connect, so you immediately turn around, hey, because I think it was me and one other guy on the call and you’re like, hey, via when you want to find a buyer, I’ll split it. So again, just leveraging that you already had a deal. So all I had to do was just spend a couple hours searching. So like you said, Put yourself in the right people around the right people or on the right places. And then for me, probably the biggest focus in this last year, you know, which we people like you and a handful of other ones is really finding the people that you need in your life that have done what you’re trying to do that can lead you that can guide you and that you can be around so you can leverage their expertise, or you can leverage their skills or their abilities.
And when when I say leverage, you know, is that in a positive way? I think sometimes people take that negatively, but it’s, it’s in a positive way of saying like, you are much more skilled, and you’re an expert in what you do. So it benefits me to be around you, you know, if I can, like you said I don’t right now having four babies, I don’t necessarily have the time. So if I can pay to be closer to you and build a relationship and a friendship that’s going to take the rest of my life or take me to where I’m going you know, that’s it’s huge.
You know, you can trade this. So anyway, I just definitely encourage you to keep doing it. Don’t don’t expect it to be a one one and done. You know, it’s a lifelong thing. Once you start watching make the first investment into yourself, brother with somebody else. And it’s something else. You can’t expect to one and done. You’ve got to just say, You know what, it doesn’t matter. At this point. It doesn’t matter if it’s 10 years down the road. I’ve got to keep investing and I can’t turn back until you till you finally hit that you know success. Get that outcome.
Bro, that is so true. Like I was watching a video yesterday. I don’t know if you ever see these kinds of videos on YouTube. They’re like, Oh, I asked a billionaire, how they made a billion dollars. Have you ever seen those where they asked like super? So there’s this one guy. He’s like, Hey, I managed, like, I help people real estate deals. And I know, there’s like 156 billionaires in the world. And I know 96 and Mark in my phone, like because I work with them. And he says like the number one thing that these billionaires all have in common is they they make decisions quickly and they don’t waste time. Right? Because they look at time as you know, because Jeff Bezos he was saying that like he makes to $2,500 a second or a minute so like to him a minute of his time is extremely valuable right? So we also have to look at you know, our time you said you had to for babies you got to look at okay, what is the most important thing where what is the best use of my time? Yes, you could hop on and cold call and maybe get a $50,000 deal. But you know, is that worth all your time is your time best best use doing other things and I know that you’ve been talking with you and your family about what’s the best way to use your time so anyway, I want to say agree with you that like you know getting out the right people taking the shortcuts leveraging other people’s skill sets is the best way best use of time I believe. So you don’t have to figure out everything on your own.
Yeah, yep, still there. 10,000 hours right?
You got to and hey, you know, brother, you can leverage me anytime you need because I got your back. Alright, so best stagnation hit up Joe if you need anything. He’s the man hit me up and you’ll check you guys out in the next one right peace out.
