Spending $100 Million on Real Estate: Colorado Springs, CO & Gilbert, AZ [HouseHack Trip 9]

yeah it was a crazy day we did a lot

today what's up man hey can see you

again how's everyone doing nice to meet

you all thank you pleasure to meet you

today we are in Colorado Springs and

after this we're going to Aurora to

check out the suburb outside of Denver

Colorado we're going to compare the two

areas and I think this is the first time

this sucker's sitting in ice so it'll be

pretty cool to see how we take off you

have about 500 000 residents who live

here 478 000 the exact poverty rate is

10.9 median income a little higher from

what we saw in a reading reading was

somewhere around 26-ish thousand per

capita median income here 33 890 so 33

890 bucks households just over about 65.

somewhat similar to about your national

average so see what Colorado Springs has

in store then we're going to Aurora okay

isn't that place more expensive it's

about the same

all right maybe it's a little bit I have

to say first impression I see a lot of

newer construction new developments new

subdivision looks like we're coming up

on potentially a newer school here I

mean so far everything looks 2 000 plus

now I like 2000 to 2008 builds because

they're just old enough to find crappy

ones but they're new enough to find

fantastic structures so I'm very excited

about what I'm seeing here so far and

quite frankly if I'm going to go into a

winter wonderland I'd rather want newer

construction also because they're

substantially

how do I say that better insulated have

substantially better insulation and uh

and you get less drafts less energy

outlay so big fans so far this will be

interesting hi you pleasure to meet you

thank you so much for being a member

really appreciate it

oh that's awesome hey how's it going

pleasure to meet you all absolutely hey

pleasure to meet you the father nice to

meet you that's awesome my business

partner and the reason why I'm real

estate oh that's so perfect thank you so

much

thank you for that I I'll tell you if I

was just coming from the airport it

looks like a lot of recent development

and growth out here huh it's incredible

yeah some of the areas we go to we don't

see that uh and and I think we kind of

want to be investing in places where

there is growth most people you'll find

here come here somehow related to

military so they're either PCS here or

they have family that was here or they

moved here and then they were stationed

somewhere else and then come back a lot

of va buyers then yes Lots okay that's

awesome wow that's incredible okay well

let's take a look let's see what we got

thank you I already pulled keys I was

ready oh thank you for that

and so you work and then in real estate

as well I uh I was in real estate for

about 30 years

oh good for you getting prepared for

that oh that's awesome that's amazing a

lot of military out here and uh how

about rental wise uh a lot of longer

term rental common rent out the whole

house as long as you have a good price

point yeah single family rentals are

highly desirable okay good yeah yeah

yeah I was in another market and they

mentioned the only rentals they do are

room rentals and we like long-term

rentals hey by the way in case you're

wondering why I'm traveling for Real

Estate it's to really become the best

expert in all these various different

markets for househack.com that's my real

estate startup we're currently raising

money at a one-to-one valuation for

accredited investors and if you invest

before the months end and you get some

extra bonus warrants which are kind of

like call options to invest more in the

future if you want to don't have to

learn more about that at this station

househack.com but come April or May here

in 2023 we should be opening up this

investment round to non-accredited

investors through a reg a which will be

very awesome and we hope you join us in

we'll be raising money at a one-to-one

valuation which means for every dollar

we raise that's the valuation of the

company so for example if we raise 50

million dollars the company is worth 50

million dollars so you're really not

suffering any kind of brand or company

dilution this is really rare when you're

looking at a startup uh so we're super

excited to be able to offer a company

and Investments and shares into the

company at that one-to-one valuation now

once that fundraise closes if our cash

flow projections go the way we're

looking we might not have to raise money

again for quite a while maybe not even

until we IPO at some point in the future

and knock on wood we're really excited

about the prospects for the company so

we'd love to have you aboard on the

journey just go to househack.com to

learn more this is the early 2000s I'm

Eric at the sheet over here so let's see

this is number one 2002. 4.95 and 2002

when when would uh or what would you be

able to rent something like this out for

twenty four hundred twenty four nice

okay uh and then backyards what's pretty

typical out here this about this size

they have five six thousand square feet

or so for this area yeah yeah yeah it's

fairly typical you can find we have a

lot of lot differentiations okay so in a

lot of the track communities you'll find

yards similar to this gotcha okay and

what um do you find there are a lot of

tenants who want larger or is this about

right I prefer this size maintenance

wise yeah yeah mostly they want a place

for their dogs to go run we have a lot

of dogs okay okay gotcha so so you

definitely want to buy policies yes okay

is pet red normal out here okay gotcha

pet deposit non-refundable and then a

monthly veteran got it got it so um map

wise what could you tell me sir because

Colorado Springs pretty large it's huge

yeah 595 square miles oh my gosh so if

you go go in here the area that we're

looking at

is going to be this basically starts

Constitution Avenue where between powers

and Mark Shuffle between Constitution

and Dublin is what I call The Sweet Spot

oh really okay this Square over here

this rectangle this rectangle that's

fantastic good neighborhood good renters

lots of homeowners lots of Home renters

HOAs this one is in an HOA that's an

annuals like 160 bucks a year oh wow but

they're really on top of maintaining the

communities yeah exactly now what was

the law you said Constitution yes okay

and then down here is it just a little

more expensive or less expensive no it's

that's where you start getting into a

little bit

Colorado Springs from south to North yes

goes in income uh okay so your higher

income is up north and the hospitals up

north gotcha we have a lot of new

development up north and out east

got it and then what about going west

downish downtown is starting to gentrify

okay uh Ivy Wild is gentrifying Stratton

Hills there there's a lot of access to

Fort Carson on the south side of

Colorado Springs so you'll see a lot of

stuff there and then on the other side

on the map where you go over here to

Widefield Fountain you have a lot of

military buyers and Runners got it got

it got it price wise how does this

compare to where we are now less less

okay and then I imagine of course if you

go downtown the maybe the near the main

that's expensive that's huge uh do they

do short-term rentals over there at all

okay okay yeah Colorado Springs proper

when you're within City Limits yeah your

short-term rental legislation is really

tough right now you have to own the home

okay and you can't be within 500 feet as

a bird flies from the next Airbnb oh so

it's a dog yeah wow so if you're outside

of City Limits you don't have that is

this outside of civil no this is all

within okay so outside would be then

more County essentially yeah and even

over here you'd have a tough time on

Airbnb yeah I don't know why it's

desirable yeah it's close enough to the

airport but it's still not going to be a

big Runner yeah yeah that's not a big

priority for us right now anyway mostly

because I think of Airbnb is going

through a little bit of a bubble

personally I found them do you see that

out here too okay so um just so you know

our goal I've actually McKay probably

gave you a little bit of a heads up

there it is I lost you for I don't see

that far yeah uh our goal is uh by start

buying probably second half maybe Q4

into 2024 and uh

single family something we can fix up

add value and buy distress property

upgrade it run it long term yeah bingo

so you got seven to ten years yeah yeah

the goal for us also if you're very good

nailed it the goal for us is really to

really get to know the area so well so

that when you call or text and you're

like it's coming up we can make a

decision right away uh we don't want to

sleep on and think on it we want to buy

we want to actually be able to close

deals regularly so that's cool so okay

so uh would this be how how would you

compare this to sort of your typical

this is uh you said uh square footage

wise 2500 okay so a little larger

probably this basement that that's

adding the square footage that's adding

square footage your basement square

footage is worth less okay yeah yeah is

it usually completed by the Builder or

do they just give you drywalling it

depends okay you can it's usually an

options options so see it sometimes

sometimes not when we're flipping we're

like we run an analysis on whether or

not to complete the basement based on

arv and Rental what else is going on are

people doing separate rentals at all for

those or uh like uh like separating the

basement like yeah like renting to a

separate a second family or okay common

or not really

because rents are very expensive for

this town got it got it okay so you

skyrocketed yeah so uh more just one

family for the whole property

essentially is common unless you can

separate the entrance okay you have a

separate entrance you can separate it

and run it out

somewhat like a duplex but you have to

do a 110 volt stove uh gotcha okay is

that because they don't want you to

permit yeah gotcha okay all right got it

so probably not as common then okay not

as common okay okay that is no you're

not as no yeah yeah exactly 110 stove

wow

just one time even heat yes yes it's

just two burners instead of four oh okay

okay okay I guess that makes sense

um okay cool great so uh 2002 great I

imagine uh do you do you ever get I mean

um these are comp shingle out here these

roofs yeah they've got a cup shingle and

with the weather I mean potentially

sometimes you get some roof leaks or

whatever if we find something moldy yeah

I love it I eat it up hail damage every

two five years insurance covered yes

premium is a little higher than yes yeah

property taxes out here not bad okay not

like one percentage plus friends yeah

okay if you ever take which side you're

on uh do you get earthquakes out here or

any other no no no no no earthquakes no

termites no terminal Divinity okay very

very rare on termites it's only if we

import stuff from California

The Californians bring them over okay

okay got it not like it was in LA that's

for sure yeah oh this is an interesting

fiberglass enclosure this is see it's

another designed fiberglass enclosure

that's incredible somebody really so

that really cares about their shower

over here uh all right cool so basic

2000s here so you you said uh oh hi

there live Kevin who are you this is

John John is my right hand he was my

pleasure

oh that's awesome nice uh garage up here

I imagine finished garage out here okay

and probably age them check it

I mean this is incredible because I mean

this is really for families this is so

perfect uh just the amount of space that

you get down here and so they wouldn't

ordinarily finish this or this tracked

yes this is this is normal on a finished

basement you usually have a living space

and then one to two bedrooms and a bath

gotcha gotcha okay okay

yeah pretty moved and ready over here so

it gives you 2002. little laundries down

here okay yeah then you wouldn't have

laundry upstairs again unless yeah okay

so single families what neighborhoods do

you all usually see the a lot of the

flips happening in is it in this seems

kind of square you're gonna look at

those are usually lower in neighborhoods

Pikes Peak Park okay

um not necessarily rental

got it you wouldn't want to go long term

there we've flipped a few in this area

okay it's more far and few between huh

uh usually foreclosures oh good you can

get okay we would love those

foreclosures are awesome any anything uh

that y'all won't want and you're looking

for an easy buyer on for uh that can pay

a little bit more than the flippers

that's us so but yeah if it's flippable

it's probably something we we'd like

yeah it's cool you get playgrounds out

here house over here with playgrounds a

lot of a lot of space see these are all

so easy to calm you know a lot of people

that look at homes like this and they'll

say oh they're they're not uh they're

not unique enough they don't have

exactly the trauma it's nonsense uh you

you this is the easiest stuff to comp to

know if you're getting a good deal or

not when when you could easily say hey

there 30 of these others that have sold

the same floor plan makes it so easy to

Value yeah

go to yeah yeah it it seems much newer

than O2 so even the weather they get out

here it's well kept uh the paint jobs

are phenomenal for 20 20 years old and I

I don't even see a bad paint job

I mean I've been through plenty of 2000

neighborhoods that have nasty paint jobs

already

yeah I mean

you find the moldy house on this street

because you could buy it blindly right

so something over here that's a hoarding

mess or a disaster I can I could buy

without even seeing it because once you

know the area it's so easy and that's

how you can really scale understand

exactly what your where your area is

know how quickly I can rent it out to

whom I'm going to rent it out what

policies to have for property management

makes it so easy and then you just

repeat I love any kind of disaster

that's covered by insurance as long as

nobody gets hurt then I get a new

product

uh a question for you with the

properties that y'all flipped out here

uh what what was the condition of that

was like

uh terrible to

we didn't do anything and we sold them

good for you okay

terrible out here I mean what what are

you generally looking at for terrible

flip to the studs okay okay new electric

everything all the way at the top oh

nice okay so plenty of opportunities

yeah there's like there's opportunities

we love construction so good great

awesome thank you for that yeah I

imagine you all have good construction

connections too

all of them so we don't even need to

talk to anyone else we just

yes I love it

love it we'll see you at the next one

yeah I mean this that's it's so

important to uh connect with people and

and it's not just one time it's we gotta

we keep coming back uh so far I'm I'm

really impressed I I did not know much

about Colorado Springs and I like this

so far yeah it was a crazy day we we did

a lot today yeah for all of you guys

that watching are watching he actually

has as much energy as you see on camera

well thanks for that so uh shout

yourself out what do you do yeah my name

is Jessica Johnson and I'm the

co-founder of smartcoach.com so we hope

coaches and course creators scale their

company through social media awesome wow

super cool thank you so much for coming

out and you get to hold my uh my dad's

uh new puppy as of in a couple weeks

from now how is it so cute perfect way

to end my day oh wow this one a little

larger yard and they added a shedding

back what's the age of this one this one

is a little newer oh six

oh three oh three okay only you yeah

okay

and uh similar HOA I imagine the guy's

got a semi truck in his backyard this

one does not have HOA in this location

no HOA here that explains the semi truck

yes

uh okay so uh

this is updated that's not original yeah

and that's okay I mean

once we know the neighborhoods it's easy

to know like okay this is this is

typical a fixer version of this is going

to be the same layout and everything

um what percentage in these

neighborhoods would you say are renters

compared to homeowners like 50 50 75 I

would say

40 runners okay okay yeah so probably

about average

statistics sure yeah yeah no that's okay

yeah all right interesting so uh okay so

up upstairs here actually looks like

potentially no bedrooms up here just

sort of garage is that pretty typical in

Colorado you get a lot of upstairs it's

sort of some living entry area in the

bed sound that's not abnormal okay okay

uh and do people expect basements out

here is that pretty typical generally

there's basements not always but so this

one might have a basement but might not

this one has has an unfinished basement

okay so that's through one of those

doors and then we have the upstairs okay

we'll take a quick peek yeah they put my

favorite that is quite interesting they

put the shag carpet up to the side I've

never seen that before generally you'd

have a wood trim molding here that's

normal here wait it's normal to do

carpet up the side here are you serious

it's a Colorado Springs Discovery how

fascinating I I was just thinking how my

if I ask my carpet installers to do that

in California they'd look at me like I

was crazy because I've never seen this

before it's actually convenient

good point yeah that's interesting very

very cool okay

all right so four bedrooms up here

pretty typical early 2000s right I see I

love this I see I want more properties

that have like old medicine but like

that feeling drug because it's so cheap

see that looks bad but it's 30 dollars

to replace in like 10 minutes of Labor a

little bit of caulking so you get some

of it here right you get sort of like

the cracking of the you need a

little bit of the mildew in there and

then what you need is the original

carpet if they didn't paint it carpet it

could have been away could have been

somebody

and they did the boob lights

that's good

all right good six panel door is pretty

classic early 2000s on that side Master

Masters are separated yeah that is nice

so these are the brushed nickel hinges

over here master bath over here walk-in

closet little office snook almost over

here for the work from home great yeah

this is a pretty typical this is typical

Colorado Springs huh yeah I like it this

is a this is a typical 1990 through 2010

home perfect yeah simple yep yeah and

then uh fixer versions of this and then

we're we're just we're buying them uh

your versions are super easy they're

about 20K 20K yeah I'd get them right

back up and something that looks nasty

what do you think you can usually pick

those up for the nasty ones I it depends

on where I get them from sure of course

so usually you can get them and again

we're getting ready to go into a harder

Market yeah yeah so more typical of what

is on the dollar but yeah yeah I'd say

right now you can probably pick them up

3 30ish 330ish yeah and they're in these

mid-fours neighborhoods yeah yeah that's

that's

okay great we'll next one thank you two

things Kevin yes drain spouts yes

they're required they're required so who

would forces the VA lender requirement

oh yeah and everything they're flip up

I've never seen them hinged before

that's cool for the snow and if you see

the grading from the house yeah you have

to have a grade away from the house for

VA lindability

keep that going to get our VA value

I'm actually impressed with how good the

exterior of all of the homes look uh I

would think with the weather that you

would have more of an impact on them but

for 20 year old neighborhoods they look

really good so that's great this

neighborhood we were saying as we walked

in no uh no HOA so you're seeing a

little bit more uh I think

Freedom including that one semi truck

that we saw it's interesting that you

always notice that you always generally

know right away if a neighborhood has an

HOA or not uh it's it's a it's like a

little property manager for you like uh

I mean look I'm all for the motorcycle

but you know it's kind of

doesn't belong there it's a showpiece I

also like how

how much customizability they have in

all these but they didn't get no HOA so

you don't have the pre-approved color

schemes that's why you're getting so

much variability here it's actually nice

though people see people care about

their homes here

uh even without the HOA why don't these

ones look weathered I mean that's what

I'm saying

yeah well maybe they just have I don't

know yeah you know I I have not figured

out that answer but yeah

more custom kind of landscaping you're

gonna get more of that and uh non-hoas

usually you're supposed to go through

HOA approvals for exterior modifications

unless you're mean and you don't hey you

might not know this yet but I've got

some incredible programs on building

your wealth link down below especially

when it comes to real estate investing

zero to millionaire real estate how to

get started how to get your first rental

property your first home to live in how

to negotiate that deal how to work with

agents how to find agents and

contractors CPAs do you need an LLC how

should you form an LLC all of this

information and much more including

money saving tricks and strategies for

renovating and making sure you're

getting wedge deals so you're increasing

your net worth as soon as possible as

well as analysis on actual deals that

people are doing in our group make sure

to check out those programs linked down

below you want to generally start with

these zero to millionaire real estate

investing course if you're looking to

build your wealth in real estate most

people end up bundling this with these

stocks and psychology of money group

really great for starting off building

your wealth and then folks tend to move

on to the do-it-yourself property

management and Rental Renovations Group

which is also extremely phenomenal for

when you're ready to start scaling your

rental portfolio so check that out find

a link down below and make sure to take

advantage of the flash sale well first

of all remember we're driven by the

wedge deal so wherever the deals are

that's that's what we want the all of

the the we package these together they

they will sell yeah no concern about

that

um but yeah I mean you blend this so you

know if this is a if you're at four and

a half Caps or 4.1 caps then you know

you merge that with some five and a

halfers uh and uh you just become an

expert at the management in each area

and you get some kind of Blended cash

flow right right and then of course if

you want to expand to the east coast you

know certain areas you're going to get

more of those six and seven percent but

but then you're sometimes dealing with

no appreciation here's your trailer

followed by Jeep on the side of the yard

followed by RV semi-truck RV RV trash

cans sitting out here you got that guy's

got an ice cream truck he parks in front

of his house this guy's got I don't even

know what that is that little flat thing

RV or whatever

yeah whatever and then and then he had

another RV in the back over there yeah

and then you get the crazy colors pretty

typical in a non-hoa that's very much

what you will generally see is in the

non-hoa you start seeing wildness and

that that the problem is that gets worse

over time that doesn't get better over

time so when these 20 year old

neighborhoods start turning into 40 year

old neighborhoods you're just

compounding that effect because you got

all the RVs sitting around outside so

everybody wants an RV outside and that

sort of becomes the standard and it

attracts more of that uh customization

of the outside in non-standard ways and

potentially lowers rents over time so if

I had to pick between the two

neighborhoods I would almost always pick

the HOA neighborhood of course if I get

a really good deal of the non-ag08 info

whatever I'm going to look am I going to

say no to it no but I'm gonna keep that

in mind for my my long-term investing

strategy the commercial Builder Builds

an area do they have can they have the

HOA or what is the like who determines

if it's gonna have an HOA uh well

usually commercial buildings have an

Owner's Association so it's kind of like

an HOA but they just call it an OA and

that's for common area maintenance it's

like commercializing like a commercial

Builder comes in and builds 50 track

homes does that Builder maintain the

right to have an HOA oh that's a

negotiation with the city uh what they

think the desirability is what the

market is like so some cities will

require melloroos assessments which are

almost feel like another HOA assessment

uh the the nice thing about sort of like

tax assessments and HOAs for the Builder

is they can really Pawn off

responsibility and rules on on them uh

but uh you know it has to be an a a

standard in the area right a selling

feature for a lot of neighborhoods is no

HOA because home buyers have this

impression that they don't want HOAs so

a lot of Builders will actually call it

a selling feature not to have an HOA and

then uh you know when they do have an

HOA they usually start the dues out low

but that could be rigged because HOAs

are non-profits and they spend what they

need to so if they run out of money they

just raise the prices this is what not

to do overpay for real estate and try to

flip it for a profit by collecting the

six percent fee that's how you go

bankrupt in a recession Gotta Have

insulation if you're gonna buy real

estate Open Door didn't seem to care

about that and now they're this close to

bankruptcy closed door soon

that'll be nice because they need to

like fix their lock box information oh

yeah I yeah I mean I

I'm not very optimistic about their

whole business model

so uh yeah and it'll also make it easier

for for other people to buy properties

that need work when when they're gone

because they're overpaying for

everything oh this is cheap yeah I'm

sorry no that's good it's fine it's true

yeah

yeah

okay

yeah so this is more of your your Cheapo

rental grade uh you've got

uh really basic job on sort of the

cabinet work not a surprise you can see

sort of the unfinished painting uh

you've got uh you know it looks like it

almost sort of like a blow and glow blow

and he didn't even do the inside over

here but yeah I mean this I don't even

know that they primed these cabinets

you've got sort of just a single quick

little throw up of paint over there so

the cabinets look terrible this honestly

the cabinets look so bad they could have

potentially even just left them as the

uh as the original cabinets uh and

because now you get a buyer and what

you're doing is every buyer opens the

cabinets and you look at this you go oh

this is like sticky and gross and grimy

and just sends a signal to a home buyer

that whoever was owning the property

Open Door uh it doesn't really care uh

so you know interestingly something like

this oh my gosh yeah there's no they

even got rid of the the sub over here

the the subfloor of the cabinet

basically uh and uh and you can see what

probably happened is the bottom of the

cabinet rotted out you've got a little

bit of uh you know you know Gunk and

nasty coming out over here at some of

the drain lines and you can see some of

the bubbling up of uh of sort of the

back paneling which generally used to

cover up the holes during construction

and so that sort of implies you had a

little bit of water damage over here so

they just decided to cut out the bottom

of the cabinet in fact I could see sort

of how the water almost flooded down

over here uh and uh yeah rather than

actually fix it and put in a new floor

which you could do pretty easily over

here it's kind of decided to cut it out

which is quite interesting you got some

new linoleum over here sort of your your

classic uh

paint and linoleum and the cheapest

carpet possible and put it back in the

market not a big fan yeah this house has

been listed for 119

119 days well I mean hopefully 50k eight

thousand dollars that's it oh that's

dumb yeah I I it's a yeah okay I mean

janky so this this is a wrap

and this is an old formica top that what

they did is to try to class it up they

wrapped it oh there you go you could see

the uh the edge of the wrap right here

so this is just a foil that was thrown

over this didn't the edge of the

sink so now you get water sitting over

here when you're doing dishes it goes in

between the cabinets and mildews again

and it's just uh it like this is just an

example of uh you know generally you

don't want to buy when people are doing

funky stuff like this because every turn

it's just nasty multiple different uh

grimy kind of colors and stuff it like

if this had some some nice mold in it'd

be great that's all that's the last

thing you need so unfinished garage over

here

actually these look pretty easy to

finish out here you know I'm gonna find

if you could get more rent to finish

this you could probably finish this out

for a couple Grand put in a nice

fluorescent light epoxy the floor and I

mean you could classy class up this

garage pretty quickly would you get more

rent uh like finishing out the garage or

maybe not no not on here okay all right

yeah then it's not worth it that's it it

all comes down to rent if I can get more

money with rent we'll do the garage but

otherwise yeah all right we'll take a

quick peek upstairs

you can see the old color over here I

still find it very interesting that this

carpet is so normal up here because it

makes it very difficult to trim the

paint uh and so you can see the old

paint color which is this nasty orange

followed by what looked like a yellow or

vice versa uh and uh and then when they

did this they clearly had their uh

carpet guy coming before the painter

which seems remarkably dumb but whatever

I mean this is It's so simple you know

you could take one person in an hour and

have them go around with a cloth and

clean up this mess but look this is

grimy it's nasty I used to do that in my

listings I'd go around and just take a

paper towel clean off the top scrub over

the yeast because this is gross uh just

if you take the face plate off turn the

power off plenty of times I've taken a

wet paper towel and I undo the face

plate and I start rubbing it to clean it

and all of a sudden getting Zapped but

the stuff I used to do anyway

it's like a straw oh this is more of a

concern so they didn't add uh this is an

oil-based paint door that originally had

an oil-based paint and the the paint is

peeling right off so if you had a dog

that scratched it all the paint would

just come right off the doors so they

should have used an oil-based primer

which they didn't but yeah no I mean

something like this it they should have

they should have cleaned it up right

this is where the sheet of drywall kind

of ends here and here uh this is just

normal sort of Maintenance of a house

over uh the 20 something years that's

been here which you could tell they

don't really care about I mean even the

paint drips that you have over here I

mean it's low low effort low quality

work uh but yeah I mean this is

something that's uh that's your seam at

the end of your your drywall and your

bull nose well uh bullnose is generally

what we call this right here but you

have the edge trims uh and uh you sort

of Peel back the drywall that's there

mudded again and maybe add some flexible

silicone caulk so that way when that

joint flexes again it doesn't re-crack

the drywall but uh not not concerning

enough for this age to worry about just

normal settlings the way I would look at

it yeah it's a good question what is the

average cost

it's you know I don't even know what

this thing is listed for but it seems

like it's somewhere mid-force but uh um

we'll ask when we're downstairs

um so they added some new baseboard here

I like the larger baseboard uh they left

the old paint right here really shows

again not paying attention on the work

that was done uh see this is why I love

Open Door listings there's so much to

talk about they painted around the smoke

detector instead of taking it off to to

actually you know give you a nice finish

uh goodness gracious face plates missing

over here for the switches I mean this

just looks nasty this is supposed to

your bathroom they didn't even do the

caulking around the tub so you kind of

get a little bit of that crustiness mold

over there and mildew in the corners uh

I mean really what they tried to do is

paint carpet formica the countertops

didn't even bother making the cabinets

nice and they called it a look at it

Russ I mean this is a 25 light fixture

completely rusted over here it's just

nasty sending such a nasty signal to

home viruses I I pity the person who

ends up buying this property because

they're gonna be so disappointed unless

they they notice all this stuff but it's

just gross that's the way to describe

this one gross

no I wouldn't touch it

oh yeah we'll check it out how much was

this one listen this one is a 1640

square foot for 417

what's this neighborhood usually worth

it's probably 380 379 no that's the

right price ish for a bigger house for

the basement got it and so this square

footage you think maybe 3.99 then 390

390 okay and then uh this this before

they fixed it up as if this was a fixer

what low threes yeah basically yeah yeah

before they pretended to fix it up right

yeah yeah yeah this is this is pretty

bad uh but again I would still say this

house right now if they want to sell it

they need to drop it to 365. yeah with

the condition that it's in the quality

innocent and if it were more of a

fixer-upper where you walk in and you're

looking at a cash buyer 320 low three

okay okay got it yeah that's just what

you get with the basements I think

really basements you you turn them into

uh playrooms almost uh you got linoleum

down here I mean I know it's funky but

it's kind of normal in your basements to

have funky utilities that you end up

seeing around so not too terribly

abnormal to see that

and then your laundry is down here

I just like basic things I mean the

valence is missing right I mean that's

easy right these are simple things that

they could have done but then again uh I

don't think the listing agents will

really uh are putting in too much effort

on this one here packs Plumbing for the

build

uh I mean this is it's all relatively

newer construction so it's really hard

to mess this kind of stuff up uh

although it appears

it kind of still may have been able to

mess this I mean this is just ridiculous

I mean just even the way this is fitted

it's almost like you're blowing your

your dryer vent right into your home

right here this is ridiculous it should

be the other way around it should be

screwed down and in place I mean it's

just again it's just sort of the janky

work that it's been done over here

so the everything they've touched sorry

don't look at it don't even know

thing coming out of it oh we don't want

to know yeah stop asking questions just

stop looking gross

okay how many days have you worked here

counting today is your last

what would you call this part of

Colorado Springs Stetson Hills Stetson

Hills okay awesome uh you you clearly

know what you're doing thank you so much

please let the world know how to get in

touch with you hi I'm Amy Jones you can

reach out to me go to

realestatebusinessadvisor.com and phone

number in case you want people to call

me oh sure there's a contact button at

that website

realestatebusinessadvisor.com okay we'll

put that up on Street

realestatebusinessadvisor.com that's the

easiest way to get in touch it's the

easiest okay perfect perfect we will

always always get in touch with your

agents the way they want to because

remember you want to make sure that you

build relationships so that way when

there are good deals they know you close

your deals and you all can work together

for the long term that's always the goal

thank you so much it was a pleasure

absolutely Kevin thanks wire and that is

awesome why electrical what does it do

next time make sure you can't stay so

long no you don't like them

see that's what you guys know I got I

gotta clickbaited now one of the things

you notice in this neighborhood is you

do have Town Homes over here sometimes

that can give you a little bit more

rental competition when you're that

close you have a little bit of a less

homogeneous neighborhood it's not

necessarily about bad thing it's just

something to observe you got a little

bit more competition that tends to be a

little lower price so they're going to

be comparing those to you often maybe

those don't have the yard so maybe it is

a different family but it's just

something to consider another thing is

you might have noticed as soon as I said

oh who's that vendor over there they're

like don't hire that person now that's

oftentimes because real estate agents

have a lot of experience working with

vendors they know who to call whom not

to call and sometimes knowing who not to

call is even more valuable my name is

Cameron James you can find me on YouTube

Cameron James Amazon FBA or

cameronjames.com it was awesome man it's

a heck of experience I learned a ton so

you Amazon FBA so people want to learn

from you they can do that correct yep so

building your own branded products

getting them on Amazon FBA doing this

all from your laptop you can just scale

it travel around the world and it's all

what does it take for someone to get

started about five to ten thousand to

get started you can start with lower

amounts but just easier time okay five

to ten thousand make your own branded

products that eventually create a whole

brand line get it off Amazon Fe as well

to eventually sell out business too your

channel one more time Cameron James

Amazon FBA or at Cameron James at

YouTube see your K C and no e in Cameron

so c-a-m-r-o-n James uh YouTube a little

higher higher level of a question but I

feel like a lot of investors will also

have this question we obviously see that

Open Door listing has been severely

neglected and to the point where it's

like eighty thousand dollars over asking

price it was very poorly remodeled I

feel like it was just lost on a

spreadsheet somehow and just not taken

care of how is house hacking to make

sure that properties don't fall off

spreadsheets like that or just become

like a single little line item what I

believe open doors problem is is you

have too much layering of uh management

so I would guess you have Executives who

almost never visit these markets you

need the boss to be in the markets that

you're working in all the time there's a

reason Walmart flies their VPS of the

entire company around private on their

own Walmart private jets as much as

possible the executives have to be there

seeing what's going on you've got to cut

out middle management you just saw 20 of

Facebook staff get laid off because

they're tired of of the middle

management getting in the way because

now everybody's pointing the finger at

everyone so how do you avoid that from

happening you avoid that from happening

but making sure that you have top level

in the markets uh uh and being aware of

your inventory right and actually

visiting your inventory seeing what's

going on if something's not moving for

sale within a week we already know

there's a problem it's either the price

or it's the property uh so something's

either wrong with the property like

maybe there's a dead mouse in the event

register uh or something stinks I don't

know something's wrong with it or it's

the price so every seven days there

should be an audit why is this property

not selling now we're not flipping homes

so the question for us would be how do

we prevent properties from sitting on

the market as rentals well it's the same

thing it's price or condition why is

something not moving price or condition

in this Open Door example it's both now

they can fix the problems or they can

cut the price to compensate they should

probably do a combination of both but

what you probably have is this this

tiered management structure where again

the corporate executives are are dancing

around on their IPO and their billions

of dollars uh and and they don't care

about the individual homes anymore

that's evidenced by the end product of

almost every single Open Door listing we

go into uh that's been my experience I I

would I would go as far as saying 100 of

the open door listed homes I've been

into have been crap uh and and so uh I

think there's a massive disconnect

between the upper brass uh and then the

bottom the the actual properties but

then you probably have what they've my

guess is they probably have a manager at

the state level a manager at the county

level a manager at the the city level

and you've got these four or five

different managers and nobody's actually

taking overall responsibility I think

you got to cut out levels and uh either

people actually handle their work or

they get fired uh and that's clearly

what's not happening here there's some

form of complacency uh or they're not

training properly entire it's also

entirely possible that the executives at

Open Door don't actually know what

they're doing in real estate and that

they lucked into an appreciating Market

created a company at the bottom of the

last cycle or clueless about how to

manage real estate and and so now you're

in a position where uh the Market's

falling and and they don't know how to

deal with hard times and they don't

actually know how to sell real estate so

now uh now now they're burning billions

of dollars of market cap and investor

Capital because they're incompetent in

real estate that's unfortunate but

that's also the capitalistic way of

weeding out bad businesses and people

who don't know what they're doing doing

how's that for an answer I think that's

brilliant I think

the bigger from it was the seven day

audit seven days every seven days you

look at the properties back why isn't

this rented and you know the Avery you

know the you probably know the actual

house that that you bought or you've

been to it and you can point out or you

get a matter report of the current

condition I think a seven day audit

would be really key yeah and I mean it's

it's really ultimately it's simple I

mean if you do a a matterport 3D scan

when you go to rent it out uh you don't

even need to do a rematch report after

seven days because see the beautiful

thing is if you have that seven day

mindset stuff doesn't break after seven

days the smoke detector batteries start

going nasty after three months or six

months right then you start getting the

the grime and and people's Footprints

and and people leaving trash and not

dealing with the toilet right if you if

you move quickly uh and you don't let

properties stagnate they usually don't

Decay that fast anyway you know you get

all the spider webs and uh you know the

dead animals or insects with properties

sit so you can avoid a lot of the

condition proper problem if you actually

renovate it properly and then move

quickly uh in this case they're actually

failing on both ends they're failing on

having the proper condition which a lot

of the things I pointed out in that

house you might actually not even notice

in a matterport but you can notice

instantly in person because you're

getting that well the real life HD look

and up close Vision on it but yeah by

far you think you hit the head on the

nail nail in the head seven days if it

ain't moving there's a problem price or

condition if we follow a formula we

don't even have to think about the

condition we know if the property was

renovated to our condition

its price Colorado Springs was awesome

very impressive you have a tiny little

bit on the lower side of potentially

cash flow relative to some of the areas

and I think that's because the

desirability seems to be so high I

believe you're probably trading into

more appreciation you've got a lot of

development still going on but the

growth seems to be there to support that

where the rental demand is relatively

High obviously as with every Market we

go to much more research to be done this

is just initial Recon but I have to say

very impressive with what I'm seeing

here this is clearly a growth style city

rather than a survive style city or a

Decay style City now that's not to be

insulting to any other cities but

remember when you have cash flows that

are say 10 caps you're often in Decay

cities seven caps to six caps you're

often in stagnant cities

four five caps that's where your growth

is and less risk in a growth City

because not only do you have that

further upside of appreciation but you

don't face as much risk of potential

depreciation and I'm not talking about

the tax benefit I'm literally talking

about increased illiquidity which means

it's harder to sell or rent out your

property which is bad because you want

liquidity you want things that flow rent

quickly lower vacancies sell fast that's

what you want but you also ideally want

the value of your properties to go up

not down that's the point of real estate

after all okay what is happening there

was an hour and a half of air traffic to

get into Colorado so why do you own a

private jet it's a change on a dime

we're going to Arizona baby two homes in

Gilbert two homes in Mesa and guess what

because we develop those relationships

we have an agent that's ready to work

with us already got four listings and

we're gonna go see them that was about a

half an hour worth of work and we're

ready to go to a new city easy simple so

you're saying we were 20 minutes away

from where we're going to go but they've

got a potential actually two hours of

traffic of air traffic to get in hour

and a half I think is the current quote

so instead we're going to start trekking

towards home but we'll stop in another

Market we really like and explore some

real estate there and we have an agent

that knows us you know we don't have to

explain the criteria again he knows us

so he's already setting it up he moved

appointments for us because he knows

we're so serious

hell yeah see that is a good agent

thanks McKay hey anytime let's do it all

right you were the first person to

Shadow me coming with a World of

Warcraft hoodie I love it I grew up

playing wow this is amazing it's not

even printed I mean it's well it's like

it's like something a druid would wear

and that's what I was a Torin drew it so

who are you what do you do for a living

well I'm a Nut hell of droid oh he's

Alliance yep that's right and um I also

I'm a creator of viewers.com okay

a your your creator viewers the

application view viewer what does that

do it's an experienced Cloud which is

pretty much an experienced Note Taker

for your product experiences or company

experiences oh that's really cool okay

so you go to view like you're looking at

a view and then

ert.com correct and so what can you do

with that and so it's it's a it's a free

note taker app try it out and see and

also subscribe to mice and roaster and

YouTube channel where we covered gaming

and Technology nice Kevin is awesome ah

thanks so what so you so you game on

your channel too correct oh that's

awesome hey thank you so much for being

out here I really appreciate it thanks

Kevin thanks we made it to Arizona this

is our second time in Arizona that's a

good sign for Arizona we're at the Mesa

Gateway Airport and now we're going to

Mesa and Gilbert let's check out some

homes good to see you again thank you so

much of course this is exciting hi there

hey pleasure to meet you absolutely this

is the crew today all right real estate

let's knock it out let's do it it's

about as cold as it gets here so perfect

good to see you again so excited to be

back yeah thank you for that a little

later in the day but hey you know what

this is cool literally it's yeah cool

how long did you did you stay late last

time no uh no we were out by filming by

four or five yeah yeah exactly yeah so

what's up I was just looking at the

rental market oh could we throw you a

mic oh you already got geez you're so on

it uh thank you uh what's up with uh I

was just kind of scrolling on like

rentals it seems like there are quite a

few rentals available right yeah is that

because people just who are trying to

sell or like I'm just gonna rent her

what's going on Bingo okay yeah that's

it because a lot of the flippers

especially like the newer ones that got

caught with them yeah yeah now they have

hard money loans that are due and so now

they have to turn them into rentals and

refinance and laws yeah three finance

and then some of the hard money um

people too yeah yeah they're telling

them they're like giving them like 30 to

60 days to do so before they take the

loan back yeah right right so they have

to show like it's either being rented or

right we got some cash flow here some

stability or whatever got it okay so so

they're probably will be a little bit of

like a temporary decline in rents

probably the longest prices okay okay

well that's fine we got time we have

patience so it's just interesting so I

mean I want to keep an eye on that

inventory number and I imagine probably

toward it's the end of the year it'll

start dropping again a little bit but

what do you think I do and like when you

guys were driving here from the airport

you saw all the big warehouses that are

being oh my gosh so much being built

even when we flew in I'm like right the

new build new build new build new build

yeah it should be a lot of new jobs yeah

exactly so that's like this East

Marriott east Mesa area is like a Hot

Topic because it connects to Queen Creek

the northern part of it and so like

there's a ton of Apartments getting

built up out in the Queen Creek area so

I think like after you get through the

flood of yeah yeah flips current rental

inventory and the open doors and all

that okay got it uh and somebody moving

out here why would they choose here over

Gilbert let's say just because it's

closer to their work just because of all

the um jobs that are coming into this

particular area like all the commercial

buildings that are being built got it

got less commute he's here to Gilbert

for 25 minutes actually if you take the

new highway yeah you get there in like

10 to 15. oh that's not bad yeah in fact

actually you could probably get there in

10. so this new highway is only a few

years old so before you had to take the

service streets from Gilbert all the way

to here and I would take 20 25 minutes I

see now with the new 202 that loops and

connects right into Gilbert you can get

in there in 10. nice all right

yeah so it is an interesting uh amount

of well a lot of new rentals coming yeah

so we'll kind of have to watch I think

that's probably going to be in prices

also for not only rents but also sales

prices are going to Trend down at least

for another six months no I think this

area has a little bit longer to go yeah

yeah and then but that is a good point

with all the construction new commercial

construction being built right jobs yeah

like jobs are going to come too right so

the demand for this housing eventually

will catch up sure and the jobs are here

but that could be 12 18 months on the

road yeah it's okay I mean we but the

nice thing is we have time we could

start buying somewhere else and

eventually buy here one side I like it

once I find stability you know that's

the time yeah I get I get nervous about

speculating on further out yeah yeah do

you know what what jobs are going in I

mean I know the facilities are being

built

um or is it not yet determined who

they're gonna lose they already have

like

um

so footprint yeah is the the people that

actually have the

um they're the name of the Phoenix Suns

on their arena in downtown Phoenix okay

okay they're out here

um and then you also have the tech yes

and then you also have like um like the

wheat dispensaries as well ah okay

they're coming out here okay good to

know all right

yeah you definitely get the square

footage out here oh I'm messing it up

nope a lot of three-way switches today

there we go

okay yeah I mean this is incredible so

you get 18

1850 square feet 2012 built uh I mean

there's there's really nothing ever that

would be structurally wrong with these

things uh you go out back

this is this is roughly what I remember

in Gilbert too I think your parents had

slightly a bit of a larger backyard but

they were also on the cul-de-sac

yeah and then they hear those screens

again that we remember with the heat the

sun reflectors okay yeah okay and then

they threw the turf back in here yeah I

mean there's there's like

there's nothing to worry about on

properties like this you know it's just

can you find one that's the area

so you are speculating on the growth

okay all right

okay that sounds good

huh

fancy

oh and you got a little Loft over here

that's kind of a funny is that like a

loft yeah yeah it probably was like an

optional fourth or something it's like

yeah

okay

the singles and be like

oh easy yeah exactly another 700 bucks a

month you know yeah exactly the

traditional house hacking house hack

night mode activated

after dark yeah so is it this is an

earlier build yeah this one's early 2000

yep and then it's

backs up to the golf course too it had

that beautiful view yeah it had the

sunset shots so uh out here it seems

like they're a lot less rentals

available yeah because here's the thing

about Gilbert yeah is not okay did you

go to downtown Gilbert last summer did

we go to downtown I don't think

no we drove through Chandler

we didn't go through that so like this

would be a good night to go down there

because you're not too far away from it

but the benefit of downtown Gilbert is

because they redid it you'll see all the

families there eating and stuff but the

one thing about Gilbert a little bit

different from East Mesa yeah I can go

work in Phoenix and I'm willing to

travel back here I see because

everything's here really good schools a

little more family exactly a little bit

more Central and people are like more

passionate about Gilbert and there's not

as much area to build as well got it got

it so you're a little bit more limited

yet you have the maybe the higher school

ratings then yeah yeah I see okay okay

so are you renting and selling faster

here and maybe sitting a little bit on

the market longer towards the east or

what would you say then yes you're gonna

have more Supply out there just because

of the drive and plus it's you can kind

of tell even when you're driving through

it there's still stuff being built and

there's still a lot more land like here

in Gilbert like it's almost becoming

landlocked especially like in the

central part like the closer you are to

downtown Gilbert the more and how close

are we to downtown right you're two

miles three miles if that oh wow you're

not too far away

okay and uh

is it generally I mean could you

generalize and say the closer to

downtown the better or is it closer to

sandton better um

um like a little bit this is probably

the furthest you want to go East Wise

because if you start getting into

wrecker and like closer to East Mesa the

less

this side of the the airport yeah

exactly okay yeah and a little bit

closer to the highways too because you

guys took the 202 to get here no we took

yeah oh you just you wouldn't surface

streets okay okay I was gonna say the

202.

oh is it okay got it okay

got it got it uh and then um well what

are you guys seeing in how has it

transitioned in the last few weeks like

as far as like I guess since we last saw

you in January you know the weird part

about it is the supplies actually gone

down yeah it's weird I have noticed that

in terms of for sales yeah like so I I

don't know it's like a really weird

Market I can't even get a pulse on it

same it's like this starts and stops

right yeah it does that but then it's

like people aren't like still not like

jumping on stuff yeah but yet the supply

is still really low yeah and because

like a few months before we were at like

20 to 21 000. and in my mind I was like

oh we're probably gonna hedge up to 25

000. yeah now we're down to 15 000 again

interesting okay all right uh yeah

interesting marketing yeah I know yeah

yeah and you are seeing more people take

cancel their sales and try to go for

rent huh they're doing that yeah some

people are just frustrated that it's

been on the market for too long yeah um

I think a lot of um I buyers too are

struggling oh for sure they're like

their days on the market are 100 200

days and it's getting insane right now

okay there's stuff okay well I mean that

for us that goes in the right direction

so it works out all right we'll take a

quick look at this and then we'll get

out of your hair all right so this is

some crazy high ceilings we got over

here uh yeah I mean so so far I it's

hmm

this I think it's it's definitely too

soon to consider the Arizona bar hit uh

but that's okay because we're really not

planning on buying anywhere until Q3 at

the earliest of 2023 but it's possible

possible that the Arizona Market might

be closer to a delayed bottom like for

example if you have a rebound in uh in

in Florida that happens in q1 Q2 23 you

might not actually see the rebound

happen in Arizona until q1 Q2

2024. so it depends but that's what we

want to keep an eye on uh because we we

want to come and be like oh my gosh what

happened to all the rentals what

happened to all the for sales and so

once once we start seeing that

transition not only in the data but in

the sentiment both of those measures

being very important mortgage rates

local data sentiment of Realtors and of

course sentiment for buyers and and

property managers all of that together

that's when it's my time

hmm

these are all pretty basic over here

what do we got

nope no lights

three car garage okay two yeah here

oh this is gorgeous

this is nice yeah Golf Course here yeah

I mean this this is nice they've made

this really nice

it's definitely uh it's it's more of a

developed neighborhood already uh you've

got the golf course limiting some of

your builds you've got people in the

neighborhood are spending a little bit

more already kind of developing and

adding things you know even just little

things like this you know people putting

their lights up uh people have been here

for longer it's a 15-year newer

neighborhood maybe 10-year newer

neighborhood for me I mean what what it

looks like right now just kind of what

I'm seeing sort of that it it we're

looking to start buying uh you know Q3

Q4 I'm one I want to see how our data

evolves so we want to stay in touch with

you because I'm wondering if y'all might

be a little bit later on on hitting a

bottom like q1 maybe if 24 I don't know

what do you think I think you're right

because I think one of the big things

that we're noticing now is I think

because the eye buyers infiltrated so

much so heavily yeah they're not like

giving them away for like five or ten

thousand you're like in the hundreds of

thousands so like they bought it for six

they're like here take it for 450. yeah

and that's having a huge impact on us

because it affects everyone else's comps

because a lot of the stuff that they

were buying were homes like this that

were very livable oh so you are seeing

them start cutting heavily yeah oh wow

and it's not small either it's like big

chunks and then you have it's funny

because it's gonna kill the cops well

that but yeah it goes both ways because

I think what happened was like with a

lot of the homeowners when the eye

buyers were overpaying yeah they're like

yeah like yes we love eye buyers yeah

yeah and now it's the reverse and it's

like well you guys suck yeah

yeah that's interesting okay

fire was on the edge of selling my house

around and said why is my house and I

just got 60k cut underneath yeah yeah

as a seller sure sure are you lower

rates yeah yeah yeah exactly are you are

you seeing uh the people who are selling

right now the homeowners who were

selling are they

moving and buying another are they

renting or what are they doing

um so if they're not moving out of state

yeah they're buying again but one of the

things that like we're telling them is

obviously you're going to give up this

low interest rate but on the flip side

the sellers are going to contribute

towards your buy down on the next house

sure you're not going to get the two and

a half percent but you'll get you know

let's see if we can get you into five

yeah which again that's a normal buy

down okay so what about

um

so you're getting that where okay out of

state where are they going

um so like a lot of them if they're

retiring they're either moving closer to

kids which actually is like Colder

Weather which again you know of those

yeah like Idaho maybe Idaho Minnesota

it's funny because those types of

sellers they don't want to but they know

that they're getting older and one of

the things that I'm noticing too is

because of the pandemic they've taken

life a little bit differently thinking

like hey you know what I don't know

exactly how much longer I have I want to

be closer with the grandkids it's more

important to me versus like two or three

years ago before the pandemic that

really kind of took stuff for granted a

little bit interesting and so now

they're a little bit more motivated to

get it sold even though they have to go

live in the cold weather got it a little

closer to them well that's good okay all

right well we'll keep checking in with

you thank you so much no worries this is

great can you shout yourself out again

yeah for sure you're by the way you were

the first one that we've met twice so

we're excited about the market here and

you're awesome thank you no worries um

so I'm Phillip goes old group here in

the Gilbert Chandler area this is your

second time back I just got a quick

question your second time back it's a

little bit later in the day what's your

second impression now that you've been

back twice yeah I mean I I love Gilbert

Gilbert's great and that's how I felt

the first time we did Chandler Gilbert

last time now we did East Mesa here uh

just from what I'm surveying with the

limited time that I was here today it

just continues to reiterate Gilbert I do

think it'll be a little bit longer

before this Market hits uh where we're

buy ready yep but that's okay we're

we're definitely still interested to

come back so that's a good thing yeah no

I think you're right I think you're

right it'll be interesting the next few

months that's awesome I'm super excited

so uh phone number

480-305-6688 or you can follow me at

Phil Shaver AZ awesome thanks man

absolutely appreciate it yep we'll see

if again look at this

holy smokes how old

oh my God

I'm kind of scared I don't want to drop

it it's like when somebody has a brand

new baby all right all right all right

oh my Lord

this is my dad's soon-to-be new puppy

yes Zeus which means cute in German

no this is adorable my gosh beautiful

thank you this is so exciting

oh yeah this is really cool oh super

cool

wow next time we've decided we are

heading to uh Scottsdale when we're back

in Arizona uh we've got some older 1950s

properties over there so we've really

got an idea of how much new construction

there is Gilbert East Mesa probably

going to stick a little bit closer to

the Inland side uh so closer to Gilbert

so that way we're bounded by less new

construction and so we're not sort of on

the outskirts where we might have less

liquidity uh Scottsdale is going to be

interesting as well closer to the

airport there it seems like you don't

have a lot of new construction around

there as well so if you get closer to

downtown Scottsdale you're looking at

that classic 1950s uh

property that somebody may have been

living in for a few Generations

could be a good opportunity for house

psych as well so we'll keep exploring

keep building relationships that's the

most important part of the first half of

this year is it's all about

relationships so it doesn't matter to us

uh whether we're flying around and

buying not buying that's not the point

right now the structure is very clear

meet people build relationships so

that's how Sac uh whatever day of

househack we're on now and I hope you

enjoyed