Full transcript
0:00you should turn this into an ice cream
0:01store great idea they're not generating
0:0310% of the revenue they could out of
0:04this building right now he's so dumb
0:06let's see if he notices negotiate of the
0:08deal your house is attached to
0:11it what it's another one we're going to
0:14bring you on a deal we're not putting
0:15any money in but we found the deal it's
0:17going to cash flow I know that the money
0:19is where I want to be but I have to get
0:21it going come back the next time I'm
0:22going to do it this way so what are you
0:24going to do wrong the first time so I
0:25can stop you from doing it I don't want
0:27to be stopped I want to be able to sit
0:28next to someone across me and they can't
0:30say no so you're going to give up too
0:32much it might be your opinion that I'm
0:33giving up too
0:35much I'm
0:37not so I just need you I'll be sure and
0:39let you know looked at it 5 years ago it
0:42still hasn't sold so now we're back to
0:44check it out 5 years later they've
0:46lowered the price 200 Grand so since
0:482019 has anything gone down in value
0:50it's only gone up everything's got more
0:52expensive except for this piece of
0:53property so we're
0:55excited would found waiting to BR R
0:58seeing their parking spaces are at 60
1:00$630 weird kind of number and then they
1:02jump to a $99 I'm seeing on some the
1:05price is just kind of spreading and this
1:07is next to the water so I think maybe
1:08you run the numbers on what they have
1:10it's been confusing a little bit so I
1:11needed to get a better
1:14understanding 19 you did y yeah I came
1:18walk it's okay if we take a picture of
1:19your
1:21R yeah feel free to take a pictur thank
1:24you very much and do we know the numbers
1:27of of these how many are indoor how many
1:28covered that is my big question the rent
1:30roll that we did get I did put it into a
1:32spreadsheet so I can send you what I got
1:34just so we can kind of see where we're
1:35at I'm seeing these security cameras and
1:37stuff is there quite a bit of cameras
1:38throughout the entire property or just
1:39kind of around this Warehouse no it it
1:41covers the whole there's they're up
1:44there on the storage it's okay um are
1:48you guys running like a retail business
1:50and so that's and and whoever buys it
1:53we' like to you know sell this with you
1:56know the sale does it make money uh it
1:59does for us because everything's paid
2:00for yeah I want to keep it Mary's done
2:04so she you know we're up in our 70s and
2:08and it's time to let it go and uh built
2:12when we had it built uh it's built to
2:15put a second story in the okay so
2:18engineered for that okay um is that the
2:21only restroom or is there a restroom
2:22inside yeah which Co there's two okay
2:24you can enclose this and then if you
2:26want to do FX space you could enclose
2:28this and have the bathroom and someone
2:30can almost use it like that cuz I'd be
2:32trying to lease out that front space and
2:34they would just need either we're
2:35getting rid of this and they're leasing
2:37the whole 5600 s ft for 6 grand a month
2:39or you know whatever the going rate
2:41would be or we're going to do what you
2:43just said put some walls and make that
2:44separate um all right check it out when
2:47you're watching these videos we know
2:48that you guys have questions that aren't
2:50answered might be about business might
2:51be about real estate well guess what we
2:53can answer all those questions that
2:54aren't getting answered in this video so
2:55shoot us a text at 928 605 4335 cuz
2:59there's questions that need to be
3:00answered and this dude and I will answer
3:02those questions for you 928 605 4335
3:06shoot us a text we'll be upgrading the
3:07security lighting the camera so that way
3:10we can keep more people honest you don't
3:11need to have an employee up here you us
3:13to have good security cameras good
3:14lighting and everything powergate that's
3:16going to get them in and out we're going
3:17to have 6:00 a.m. to 10: p.m. hours not
3:1924hour access cuz that's with 3:00 a.m.
3:21people that's when people [ __ ] with [ __ ]
3:23so exactly so my game plan would be
3:25probably run the numbers of just could
3:27we lease this out to that mechanic that
3:29does want to make this money that he
3:30just said cuz he's a badass boat
3:32mechanic and great here you go you'll
3:34get x amount of spots and we get those
3:36shops in the back we get those RV units
3:38those rates would be going up and he's
3:39charging okay onto these uncovered
3:41parking spaces cuz I'm at 50 bucks 55
3:43bucks and he's at 65 70 so maybe I can
3:46get five extra bucks times though 70
3:48spots and then I know I could raise the
3:50C ports by 25 bucks so I like it man
3:53they're not generating 10% of the
3:55revenue they could out of this building
3:56right now no no but nice warehouse and
4:01[Music]
4:04it's another one you get a good idea you
4:06know what's better being the landlord
4:08being the landlord [ __ ] [ __ ] any
4:09business idea just be the landlord hey
4:11you should turn this into an ice cream
4:12store great
4:14idea you like it I love it Red's do on
4:16the first see Bo's got a jacket I going
4:19steal
4:21it
4:27right you're so dumb it's cold C and
4:30he's not wearing it let's see if he
4:32notices so these next two do you rent
4:35these out individually well there's two
4:37two boats per week oh so so it's same
4:40thing you just par them inside so
4:42they're for the the longer boats do you
4:44know the width and depths yeah this is
4:47uh 25 by 35 hey B yeah off an eyeball
4:52you you see if that's a you think that's
4:53a 12T wide or 14t
4:56wide 1 2 3 4 5 6 7 eight of them and the
5:01other one's 25 by 35 and there's three
5:05yeah your mom and dad to the
5:08lake mom doing my mom she's just as
5:10honory as ever and I swear just last
5:13time I saw her was we were sitting
5:15around a
5:17campfire on the beach really okay and
5:19she would be there tomorrow if someone
5:21would back a boat up for her she's
5:23misses those days out at the lake with
5:24you guys and just doing those type of
5:26things with Jim and Cheryl my dad they
5:27spent so many years out there a lot of
5:29memories H oh yeah I'm so done
5:33boating I'm so done boating we don't
5:36have any storage up in this uh part of
5:37town but you're close to the lake so are
5:39a lot of these people Lake people or
5:40they just it doesn't matter 90% of our
5:42storage people are californ California
5:44that's okay is there any chance that you
5:46guys might owner finance for even like a
5:48year or two turn it back over to a bank
5:50like if we got you enough money down to
5:52feel okay with enough money down yeah I
5:55definitely cuz probably what we would do
5:57is once we get it might like stabilize
5:59these a little bit better just clean it
6:00all up before we take it back to the
6:02bank to try and get the appraisal up on
6:04it cuz I think like right now get the
6:06appraisal without how to put too much
6:08money down like if we get rates up just
6:09a little bit to try and generate a
6:11little bit more revenue or get it filled
6:12up then we get the revenue up we take it
6:14back to the Community Bank and they may
6:16give us better financing options on it
6:18whatever I say
6:20definitely back to the because I would
6:23like to keep it because it's a steady
6:25income every month y I mean I know good
6:28well that you know quter of but goes to
6:30capital gains well the that's the other
6:32thing that's kind of good too is if you
6:33did do an owner carry for a short period
6:35of time is then you're prolong and
6:36taking those capital gains so you're
6:37going to obviously pay taxes on whatever
6:39we give you down but then if you just
6:41get a nice monthly payment I mean even
6:43if we can get it close to where you're
6:44at after expenses now you know what I
6:46mean if we get you a nice enough payment
6:48every month even after 12 months just
6:51see how you're doing hey do you like
6:52getting the payment or would you like us
6:53to go get it refinanced and then we'll
6:54go get it refinanced and get you cashed
6:55out if you wanted to we've got quite a
6:57few properties that they weren't open to
6:59owner fin ing but once we kind of laid
7:00it out and structured it they felt
7:02confident with it and then we gave them
7:03our personal financials so they feel
7:05solid that we're not going to default on
7:06it I know you cash on yeah cuz I get it
7:09even if you got it back and you had a
7:11bunch of money down you really don't
7:12want it back at that point we don't once
7:14I'm done I'm done I just want to get my
7:15payment every month well he's got it set
7:17up right now where he uses someone to
7:19park each one of these boats and pull
7:21each one of these boats out so that
7:22would have to change with our business
7:24model but he's not charging enough so we
7:26could raise the rates and have less
7:27boats here and there's room for add on
7:29as far as storage as far as either lean
7:32toos or else fully enclosed right that
7:34is exactly correct we seen a lot of dead
7:36space right now he's utilizing only
7:37about 80% of his land where I'm seeing
7:39just a lot of empty spots where we'
7:42bring up his parking spaces where he's
7:43charging $65 we'd go up to $85 times you
7:47know the 200 spots he has any of these
7:49dead Corners would now be pods we've
7:51checked all the storage complexes within
7:533 miles they're all sold out so that'd
7:55be just easy to add pods right away the
7:57warehouse they're using as their own
7:59personal retail shop is 5600 ft they've
8:01got nine boats in it right now making
8:03$1,800 get rid of all those and we put
8:05in a tenant here for 5 to 6 grand a
8:07month those would be stuff we do in the
8:09first 90 days I was think hey if we're
8:11going to a bank it's a million dollar if
8:13you carry for us it's 1.1 there you go
8:15too yeah see what it
8:17sies negotiate the deal is that it your
8:21house is attached to
8:23it
8:26what everything that you have everything
8:28would comp no it would tie in this end
8:30of town for us so yeah just of the damn
8:33order was it charges so much I don't
8:37know I'm just kidding like I say it's
8:40200,000 cheaper than when you looked at
8:42up last time okay it's on
8:47sale crazy crazy crazy that's a good one
8:51man one carity deal yeah buddy I have
8:55your rent roll so I have an idea of the
8:57income you're making now how many empty
8:59space do you think are not included on
9:01that where I could say Hey you know
9:03there's five empty spaces where I can
9:04add another 65 bucks for a par I just
9:06counted I believe six uh enclosed
9:09empties six enclosed and I think there's
9:13two
9:14covered and then there's over 100
9:17probably 150 open you feel like you can
9:21fit another 100 oh yeah what do you guys
9:23is plans after you do sell it are you
9:25guys going to go buy an RV and turn the
9:26country or no
9:29just just going to take it easy for a
9:31while I got a a ranch up above the lake
9:34got 120 Acres up there and I just go up
9:37there got all the projects going and
9:41thank you very much I appreciate nice
9:42seeing you again always thank you nice
9:44to meet you yeah all right take care
9:47thank you he doesn't even have six of
9:49the enclosed units filled into the
9:51carport so that's an extra $1,000 so I
9:53really think that it'll be easy to get
9:54this into the
9:55167,000 as is before any pods before
9:59anything cuz I'm just going to raise
10:00rates on every single one of these relay
10:01out some parking spaces but I see 16,000
10:04for sure for sure throw some pods even
10:06if you took the lower area you line that
10:08with pods he was that's what he was
10:10saying lower the lower area with pods
10:12the expenses I would have are going to
10:13be a new power gate with heat pads
10:15because that's tells me who's coming and
10:17going and better cameras and secur I
10:19would just fix that wooden fence that
10:21goes that direction oh that's Z I'm
10:22going to run out steal his jacket I
10:24thought it was funny till we got there
10:25it was
10:26freezing now it's funny again hey here's
10:28your jacket back this is the road into
10:31our community of 60,000 plus people and
10:34so if you're moving it fresh into town
10:36you're getting ready to go into your
10:37house you think you're going to have
10:38room for everything but then you're
10:39going to possibly not if the first
10:41storage place that you see on the way
10:43into town is called Mojave storage and
10:44then you pass about three more of them
10:46in town most likely you should probably
10:48call Mojave storage to store some of
10:49your [ __ ] that doesn't fit your house or
10:51you're going to store that boat or
10:52you're going to store that RV or
10:53whatever A lot of people don't plan on
10:55all right well we're moving to Bullhead
10:57City so call and find a storage place
10:59they they get their place first they
11:01move to town move their [ __ ] into their
11:02place they realize oh we got more [ __ ]
11:04than what we want and then they're going
11:05to store it somewhere but if you look at
11:07this as a retail guy location location
11:09location well this is a boat storage
11:11which is the very closest to Lake Mojave
11:13which is a huge mecca for people in
11:15Southern California the locals and the
11:17Phoenix market and we're on the Colorado
11:18River which is a huge market for the
11:20same things I just said so it's the
11:22first location coming into town we would
11:24just Market it better signage better and
11:26when you drove into town you're going to
11:27see some hob storage and like what both
11:29said you pass three or four different
11:30Mojave storage except for the truth is
11:32you're going to pass probably 20 Mojave
11:33storage signs driving through town so
11:35it's just one that we should have just
11:37cuz of location what do you think he can
11:38owner carry him and what do you think
11:40he's receptive to he already knows who
11:42we are he goes I know I know you guys
11:44are good for it I go we give you our
11:45personal financials and I said probably
11:46even throw Mike's house in there if we
11:48needed
11:49to he just laughed but no he's down they
11:53want to sell and you figure they they're
11:5523 years vested in there they spent
11:56their last good years working their ass
11:58off there so if you tell them how much
12:00you love the property which honestly I
12:02love that property I do if you tell them
12:03how much you care for it and they've put
12:0623 years of Blood Sweat tears in it they
12:08want to sell to us absolutely they want
12:10to sell it to someone that's going to
12:11take care of it it's their legacy right
12:13they've been doing it for 30 years out
12:15here if that was just a blank piece of
12:17property no business no buildings which
12:19there is a business there there are
12:20buildings on it there is Storage
12:21happening there it is bringing in
12:22$11,000 a month but if there was none of
12:25that there at $6 it's at least worth $5
12:27a foot just empty sitting there he says
12:30he's got close to a million dollar in
12:31the brick wall that goes around the 4
12:33acres and he only wants to sell the
12:34whole business for 1.3 so replacement
12:37cost it's a good deal price per square
12:39foot it's a good deal cash flow it's a
12:41good deal so it just it marks all the
12:43boxes that of something that we would
12:44buy correct mhm been doing this for a
12:47long time the price he's asking is more
12:48than fair and it leaves enough meat on
12:50the bone for us to Value add and make it
12:52cash FL the very first day we own it 90
12:55days after we own that property we could
12:57put up for sale 1.9 would you say Bo if
13:00we get oh yes I'd have a hard time
13:02selling for anything less yeah the day
13:04we close we make money and it cash flows
13:07and that's exactly what we do over and
13:09over again and it's what so many people
13:11have a problem seeing how we do it you
13:13just keep looking you keep building a
13:14relationships we're 5 years into looking
13:17at this piece of property but it looks
13:18like now we're going to be able to come
13:19to a deal we're going to get it into
13:21escrow the day we get into escro we're
13:22making money and the day we close it'll
13:24be cash flowing so if you have any
13:26questions about anything we just talked
13:27about and you want to do some of this
13:29type of stuff give us a text at 92865
13:324335 we can help anybody out there if
13:34you're looking to close on a piece of
13:36property maybe you haven't closeth on a
13:37piece of property you want to buy some
13:38industrial property you want to buy
13:40residential property you want to buy
13:41some storage and you need help shoot us
13:43a text at 928 605 4335 Mike and Bo right
13:47you just don't know what you don't know
13:50so text us 928 605 4335 hit us up