THAN:
Welcome everybody this is Than Merrill here and I’m sitting with Dave Lindahl and we got a phenomenal, phenomenal Webinar for you tonight and I look forward to having everybody on tonight’s Webinar and its going to be absolutely awesome. Hopefully you’ve tuned in and you were able to see Dave’s screen here, we got Dave and I live sitting here. Do, going through this Webinar it should really be an awesome time today. And so just everybody knows, Dave is one of the first people that I learned the business of buying and selling apartment buildings and investing in apartment buildings, and so I’m really excited to have him on tonight’s Webinar because his going to give us a wealth of information. In every single time I talked to Dave he’s just got phenomenal things that he teaches me about buying whole strategies and so its just going to be a great Webinar and I just want to thank you for being here, thanks Dave for being here as well.
DAVE:
My pleasure Than, thanks for having me.
THAN:
Well great let me give everybody just a little bit of background on yourself Dave cause I know, I’ve personally learned how to invest in apartment buildings from you and I’m always always very grateful to you for the information you gave me as I was developing as an investor. So first and foremost I want to thank you for that and let people out there know this is the guy you’re talking to the guy who I learned how to buy multi units properties. This is the guy who taught me. And as many of you know or if you’re not familiar with Dave, Dave grew up in Boston, right outside of Boston. What town did you actually grew up in Dave?
DAVE:
A town called Evington, small town.
THAN:
Right outside of Boston that’s correct, I’m pretty sure. I’ve been up to Boston a few times. So definitely know the area very well. Dave grew up and he started out as a landscaper and he started running a landscaping business and he slowly made a transition into buying apartment buildings and now you have over five thousand units across the country is that correct?
DAVE:
Soon to be six thousand yes.
THAN:
Soon to be 6000 I now you’re been buying all the areas in the country and I now your going to go through a lot of information as to what areas in different market cycles in different market to buy in so its going to be a great webinar and I want to thank everybody for being on it so Dave why don’t you just start it off give us a little bit of your background how you got into real estate investment. Just tell us a little bit about your starting your transition into real estate.
DAVE:
Alright, well first of all I want to thank everybody for being on the call because I know you’re very busy and where going to make this call worth your while right up to the very last minute. Now I’ve got three objectives on the call tonight. First one is to show you how to explode your wealth using multi family properties with the use of market cycles. Because at any given time your market is going to be one of the 4 phases of a market cycle. Use the right strategy at the right time and you make a ton of money. Use the wrong strategy at the wrong time and you may break even or worse you may even lose the money. So we’ll go into how to invest in your own backyard, that’s what investing in those market cycles list, and then I’m going to introduce to the concept of investing in emerging markets. Cause Than what would have been it like if you bought the Boston area or the Florida area or out on Los Angeles 7 years ago and then sold 2 years ago?
THAN:
I would have been doing pretty well I can tell you that for sure.
DAVE:
Absolutely and you know what? There are markets just like Boston, LA and Florida where 7 years ago right now in the United States is anywhere between 25 and 30 of ‘em. So I’m going to go into how to determine where the markets are and how to invest in those markets so we can make a ton of money there. Then I’m going to show you how to create massive passive income without dealing with a single tenant. Because I’m going to show you how to become a true investor instead of being a landlord. And then from there I figure we’re going to be on this tele, teleconference webinar for the next 90 minutes. So we might as well have some fun. So can I enroll you to have some fun with me Than and everybody else yes?
THAN:
I’m always ready to have fun, we’ve always had a big party over here each time we have a webinar so I’m excited.
DAVE:
Alright awesome, so from here, it’s true I currently own 5439 units and why is that important? Well it’s important to know that I’m doing what I’m teaching you that it’s not something that I did six months ago or a year ago or 4 years ago. I own a company called The Lindahl Group right here in Rockland, Massachusetts. I’m actually talking out of my office here. And in everyday we’re out there looking for new deals to buy I currently have 942 units under contract. Now I didn’t start buying large properties, I started buying very small properties, 3 to 6 units of building and then worked my way up to big ones. As a matter of fact it took me almost 4 years to stop buying small ones and then to start buying the bigger ones because mainly I was afraid of buying bigger. You know how that feeling goes Than?
THAN:
I sure do. In fact I missed out on a great deal early on in my career because I wasn’t ready, and fear stopped me early on. And I remember right after that point we missed out on that opportunity that’s when I found you and I said I got to study from this guy ‘cause I think he got some great concepts about buying and holding property and I remember once I went through your course, and I started to learn and I started to assimilate and use that information. I mean my investing career took off and now we hold a lot of property. And in today market it’s a phenomenal strategy to buy in whole because the market’s come down so much. I mean now is the time to buy.
DAVE:
Yeah absolutely, I don’t know if you’ve read Barons over the weekend but they’re talking about that the bottom of the market is just around the corner. So this is one of the best times to be buying right now because you’ll see nothing but appreciation in the future. So I currently own 5439 unit, this is a property we have under contracts right now, actually we just closed on this one two weeks ago, this is called the Meridian its in Dallas Texas, its 299 units. I bought this one for actually for $13 million. But I didn’t start big, I started very small and I tell my students that the most important thing is to get started but start where you’re comfortable. So its important to know that I can do this, but what you really wanna know is if I can teach you how to do it. And what I did is I made a poll of all my students over the last 6 months. And I determined that 312 of them have bought multi family properties using the same technique that you’re going to learn here. And the same system that you’re going to get from here at the end of the teleconference. They’ve created over three and a half million positive cash flow coming in to their houses collectively over the last year. And more importantly 62 have quit their day jobs and are now full time investors. And that’s really where we all want to be, would you agree?
THAN:
Man that’s awesome. I mean when you track and you know that your students are having that kind of success doing exactly what you preach. I mean it’s gotta to be an awesome feeling and the feeling’s probably the only feeling that’s better is probably the student’s feeling that they’re having by creating that wealth so its awesome.
DAVE:
Yeah its really great especially you know when you get the letters in and you know how it is when you get the letters in and how you change peoples lives and how they went from the brink of something to actually creating a better life. That’s what its all about. So it’s true I started as a landscaper in my late 20s, I was in a rock and roll band actually for almost 10 years prior to that and when I turned 28 I decided that I wanted to actually you know live a better life. And I wasn’t sure what to do and it was just about that time that the grass started growing here in New England so I literally went door to door and started knocking on doors of people that, everybody had high grass and I asked if I could mow their lawns. And I got 41 accounts the first year and that worked pretty good while the grass was growing. An you know Than we got to think of the winter around here right?
THAN:
That’s very true, how long does grass actually grow is it like 2 months? 3 months?
DAVE:
6 months, winter comes around every 6 months and it hangs around for 6 months just like a bad relative you know what I mean? And the wintertime I struggled. The wintertime I did all the kinds of odd jobs just to get by. I used to sell memberships for DJ wholesale clubs in Glasgow’s. I used to do a lot of snow plowing. And I used to do all kinds of odd jobs. And I remember, fortunately for me I had a friend that worked for a bank and they had foreclosed on a property and he didn’t ask me if I want to buy it, he asked me if I want to do the work because he knew I was broke. And I said sure, you know I would have done anything for work at that particular time. So he takes me to the property, and I’m taking a look at this repair bid, and it looks like its written in some other language because I’ve never done a repair bid before. Now I wasn’t sure what I was gonna do, so immediately I knew I had to find someone that did know how to do this. And for me it was my colleague, he was in construction, I called him on the phone, I said, “Dick I really need you to help me out with this, I really need the money.” So how do I put this numbers together? So he took me to the property he showed me how to put the numbers together sent it to the bank but a week later bank calls me back and says congratulations you got the deal. I thought wow this is good, because I really needed the work. And then I thought this might not be so good because I’m really not sure how to do this work. So then I immediately enrolled in home depot university. Ever been there Than?
THAN:
I’ve been there and I’ve also been in classes in loads have, I’ve been to that same, that same education cycle there.
DAVE:
Yeah, those classes are awesome. I learned how to put in floors and doors and how to paint properly, but what I really learned is that I really wasn’t good in any of that stuff. But I really got really good at picking up the phone and calling up friends and family members and contractors and getting them out to do the work. And I got the first job done with the bank and they really liked it and they were able to sell it fast. They asked me to bid another one, and I did and then I get to my second job done and then I get my third one done and I started realizing something. When people were coming in to look at the property they were asking me what else might be wrong with the property. So as I was telling them that I was doing it I was asking them you know when do you plan on moving in? Well some of them said well we’re not gonna move in we’re gonna flip it for investors and were gonna make somewhere between 20 30 thousand on the flip. And I thought 20 to 30 thousand. I mean that was a, that was a huge windfall for me if I could have that amount coming into my apartment at that time. So I did exactly what your doing now, I started listening to successful people, I started getting their systems, I started teleconferences, started going to seminars, I started getting books and tapes. Within a short period of time I had enough information to do my first deal. But I had a problem. You know what the problem was Than?
THAN:
Probably lack of capital I’m guessing.
DAVE:
It wasn’t lack of capital; and I didn’t have any money. Yet it wasn’t the fact that I didn’t have any money, my credit wasn’t so great that stopped me originally. But something else and that was fear. You remember how fearful it was to do your first deal?
THAN:
I sure do, I remember we bought one of our first properties, junk property of 55 grand of work. I remember closing on that property and then driving by that property and walking through it and going what did I get myself into. I remember having buyer’s remorse. I remember being scared. I remember having a hard time going to sleep that night because you know I got so much on the line on this deal. I know exactly what you’re talking about, its fear.
DAVE:
Yeah actually it took me a full 9 months to get over the fear of doing my first deal. And it didn’t help that my father kept telling me not to get into real estate and I finally realized that I had to stop talking to him and anybody else that were naysayers about it. Because they make me more nervous than I was before. So finally I have to, I have enough information to make my first deal in a couple of months, but it wasn’t until 9 months when I bought this. Well actually there’s a picture of me in the band. Yep, that’s me lead vocals, I love that band, I was in there for ten years I’m telling you, if I could have made money singing in front of a crowd I would. You know but there’s one fact that I couldn’t get over, I wasn’t a great singer. I could dance good that’s why they kept me, but the singing that was a challenge.
THAN:
You’re going to have to send me one of those song from your hey days one of these days. I got to hear you in this band. I have a hard time picturing it.
DAVE:
We did half covers and we did half originals, so I got a lot of originals. You know I wrote and sang everyone of my, I got two brothers and a sister; I wrote and sang every one of their wedding songs. It’s true. Sometimes it was. So this is the first deal I did, this is 25 Newton St. in Brockton Massachusetts. The purchase price is a $140000. This is a three-decker, in this particular property there are three bedrooms in each floors. And that’s important because the more bedrooms you have on each floor the more money your gonna to make, and I want you to write that down that’s very important. That’s called the unit nicks and throughout this presentation I’m going to give you certain key terms regarding, terms that we’ll use while you’re out there buying multi properties and when you use them the sellers and the buyers. Or the sellers and the brokers will know that you’re a player. So unit nicks, so the more bedrooms you have on each floor the more money you’re gonna make. Now the purchase price on this one is 140, the cash flow was $573. And every time you hear me or one of my successful students talk about cash flow what we’re talking about is the money that after all the rent is collected, the bills are paid, the mortgage is paid, that is money that we put into our pockets, expendable income. So can you think of something that you might be able to do with an additional $573 coming out of your pockets tonight? Absolutely. So the repairs on this property were $6500. There was an upgrade on the electrical systems that I had a contractor do. And I also did some repairs in the interior. In the interior meaning the common areas where everybody could go in the hallways or down in the basement and or the exterior. Now when I first started investing I wasn’t interested in single-family properties I was interested in multi family properties because I’ve seen an interview with a guy by the name of Harry Helmsley out of New York City. Do you know Harry or did you hear about Harry Than?
THAN:
Yup.
DAVE:
Well Harry, he is dead now but he started buying multi family properties, he was broke so he started buying multi family properties and then bought and sold them and to the point where he actually ended up owning the empire state building. And they did a biography interview with him and while he was alive, they said, the interview he said, “Harry what’s it about apartment buildings that gets you going?” Harry said, “I always like the idea that a group of people will pull their money together and give it to me so I could pay off the mortgage of one of my properties.” He said in essence they’re buying the buildings for us. He said, “I also like the idea that a group of people would pull their money together and give it to me so I could pay for the maintenance in all of my properties. So that I would have extra money at the end of the month. That I could go out and either reinvest, put into a statements account, or just go and have some fun with.” So I thought wow what a concept. There are large groups of people out there that would give you money at the end of every month so you could go out and buy properties. Small properties, medium size properties and very large properties. They give you money every month so you can pay for contractors and maintenance men to keep the property looking good at all times. So when you go to resell you can get top dollar and they give you so much money that at the end of the month it will quickly equal and pass the income that you’re earning in your job and then you can quit that job and become a full time investor. And that’s really our goal. Our goal is to get off of our 9 to 5 job. Become a fulltime investor and we create a life for ourselves. So I get so excited with what I heard, I go to my real estate investment club and I started telling everybody what I’m going to do, and I said hey I’m going to start buying multi family properties. What do you think they told me Than?
THAN:
You need money, you can’t do that, probably a million and one objections as to why that can happen I bet.
DAVE:
Absolutely, they said what are you crazy, they said what if this happens, what if that happens, what if this, what if that. Before I knew it I have this ifs going on in my head. And I was just, it made me very nervous so I decided, maybe I won’t start with multi, maybe I’ll start with something else. A couple of months go by, there is a couple of guys, actually there’s a small group of men and women that are all buying multi family properties. They were driving bigger cars, wearing better clothes, taking longer vacations, and they’re not saying anything. Mums the word. So I pulled one of them aside his name is John. “John what is it about multi families that you guys are doing so well that everybody else are saying to me to stay away from?” And he said, “Well Dave, it’s a secret.” And I said, “Well, do you want to share the secret with me John?” He said, “Dave its all in the way you look at your properties. You can look at your property through the eyes of the landlord or through the eyes of the investor. He said landlords deal with tenants, trash and toilets. He said investors deal with tenants, travel and Tahiti. So where would you rather be? Be a trash man or go to Tahiti?” Well obviously I would to go to Tahiti right? You bet. So he said, “Dave, landlords deal with tenants on a regular basis. He said you don’t want to be doing that, he said don’t get me wrong I love my tenants. You know these are people that go to work everyday. And at the end of the month they give us 40% of their paychecks. Now what’s not to love about them? The other people are going to pay for your Mercedes, you’re round the world trips, your kids could go to the finest schools. He said treat them like the gold that they are and they’ll stay with you forever. But we don’t want to know them on a first name basis, we don’t wanna know them on a first name basis. Wer’e going to get good quality management companies to manage our properties while we go on and act as the CEO, and if you’re the only person in your business are you the CEO? Absolutely, so he said that as a CEO you should be doing three things in your business. Number 1, you should write this down, you should be growing the business, because if you’re business isn’t growing that’s in decline or stagnant. Number 2, you should be creating cash flows, because the number one reason that business go out of business is lack of cash flow. And number 3, you should be cashing checks. Do you agree?
THAN:
I agree you’re exactly right; the most important thing is to run your business like a business. It’s your baby and that’s what you grow and that’s what you work on everyday. And that’s something that you taught me because we started out buying multi units properties and we started flipping properties and we started using those smaller chunks to invest in longer term holds and that was one of the best things we ever did cause otherwise you just have your money sitting there and its not any good if your making a lot of money and if you don’t reinvest it right back into what made it which is property I mean and that’s what I learned form you.
DAVE:
Absolutely, so he said Dave if you look at your business at the eyes of a maintenance man and you do the maintenance in your properties and you’re gonna earn a maintenance man wages. He said that if you look at your business in the eyes of a CEO, then you delegate, delegate, you’ll create a CEO salary. So I thought I’m going to start buying multi family properties. So I went out and I found this deal, before I decided to buy it I analyzed it. And I realize we don’t analyze single-family properties and multi family properties the same way. With single-family properties we use a comparable method. We compare like kind properties to each other to determine value. With multi family properties we use the income approach or the capitalization rate. Write that down folks, the capitalization rate. And what is the capitalization rate? Well the capitalization rate is the return that you expect to get in your investment. So write that down. The capitalization rate is the return that you expect to get in your investment. Now how we determine that capitalization rate. That can be very confusing? So what I did is I took a very complicated formula and I broke it down to a very simple formula that I called a times 10 valuation calculation it’s right here on your screen take a look at it. What you do is you take the yearly income from a property. Subtract the yearly expenses not including the mortgage; you’ll use that mortgage to another calculation called the cash on cash return. From there you’ll get the net operating income or the NOI and your going to hear that term a lot with multi family investing because we’re always finding ways to increase that NOI. We’re going to take that NOI and we’re going to multiply it by ten and that’s going to give us the approximate value of the property. So lets think back to that Newton St. property and these are the numbers on that property. Yearly income was $34000, the expenses were $15300, and the NOI was $18700. We take the $18700 and we multiply it by ten and we got a value of $187000. And if you remember correctly I paid $140000 for it. So with the stroke of a pen I created over $47,000 in equity at the closing table and who would like to go out and do that on the very next deal? All of us would. Absolutely. So Than, is this easy?
THAN:
That’s really easy. I mean that’s a really quick way to value properties and you could see folks if you increase the rents and you just raise rents just a little bit, that’s gonna bring in and increase the yearly income. Guess what? If you get the expenses down, the value of the building’s gonna grow. And so that’s how you as a landlord can come in there we did that all the time and that’s something that I learned, ‘cause we’re buying three deckers, a lot of three unit properties just like you Dave and it taught us. And we’re going out there and increasing the rent, we’re adding some bedrooms into some of the units and we would increase the value of the property by $23,000 with some very easy steps that we took. And so it’s a great way to build, wealth. And you know, it can be very passive or can be semi-passive. All depending on how you run the business.
DAVE:
Yeah, absolutely. You know the less hands-on you have the better it is and the more money you will make. In reality, people that needed to control everything, you can still make money if you’re a control freak but I’m going to show you how to go hands-off and let other people do it for you. Write checks and cash checks, that’s my motto. Yep! So from here, there’s one thing, there’s one thing that’s very important that I learned. I learned that value of a multi family property is in the income stream. So write that down. The value of a multi family property is in the income stream. So for every $1, we increase the income stream, we increase the value of the property by $10. So that’s why we’re always looking for ways to… That’s why in my system, I actually give you 10 different ways to increase the value of your property using what’s called the value plays. And what’s the value play? The value play for office investors is opportunity to take a property with a small problem, fix the problem, and create a lot of value in a very short period of time. As long as we follow the golden rule, which is always buy based on actual numbers. These sellers try to sell us based on what they call proforma numbers. And Than, whenever you see a listing sheet that has proforma numbers on it, you just cross-out that word “proforma” and put the word “pretend”, right?
THAN:
That’s exactly right. Every time a seller tells you, it’s something, number one you’re got to verify, and number two it’s probably a wish.
DAVE:
Yeah, absolutely. And here’s the thing. If you buy it based on those proforma numbers you’ve actually given the seller the value play for not managing properly. So you take that out. And now what are some of the value plays that you could take a property that has low rent buy it based on actual numbers and increase those rents and increase the value of the property. You could buy a property that has low occupancies, just add additional people in as long as you buy based on actual numbers, and the more people you bring in the more you’re gonna increase the value of a property. So its very easy, the two things that I’m going to recommend that you always use when you’re using my system. Number 1 value plays and number 2 emerging markets and well talk about that in a little bit as well. Now here’s the thing about multi families too. Multi family properties are like money machines. Write that down. Actually multi family properties are money machines because you buy the property and you hand it over to a management company, the management company takes care of the tenants. They collect the rents, they pay the bills they pay the mortgage and they put a chunk of money into your bank account month after month after month. And if you think about it, well think about this, when you go out shopping on credit cards and you’re buying a family vacation or you’re going out and you’re buying gas, what happens the very next month Than after you used that credit card?
THAN:
You got to pay the bill.
DAVE:
Yeah you gotta to pay the bill then what happens if you don’t pay it in full?
THAN:
Then they charge you interest.
DAVE:
They charge you interest, they increase your minimum payment, now think about this, now you’ve got a money machine and apartment building that’s putting money into a bank account every month. You get a debit card that’s linked to that bank account, instead of using your credit card you now use the debit card and now when you’re buying gas or buying vacations for your families or groceries or goods and services the money is deducted directly from that bank account. What have you just eliminated from your life?
THAN:
Cash.
DAVE:
The credit cash statements.
THAN:
Yep.
DAVE:
Think about this, going to your mailbox next month and every month after that, and having no more credit card bills in there. Is that freedom?
THAN:
It is. One of the things that I learned you know, one of the strategies that we used from you was adding bedrooms to apartments we were taking dining room without a bedroom just to increase the rent by 200 per unit and we would take a 3-family property and increase about $600 in total income, and that money, we used that to fund a lot of different things. We use it to pay bills we used it to run our business, a lot of that cash flow that we were using we were running, our operating capital for our business, and so that’s how we were operating our flip business by some of the cash flows that were coming in not only from the flips but also from the long term holds that we were acquiring. So it was it was a phenomenal strategy something that I’ve learned from you we put into play and really helped play our business.
DAVE:
Yeah you know absolutely, apartment buildings not only pay for your lifestyle and that’s important, you wanna write that down folks. Apartment buildings pay for your lifestyle and you deserve that. But they can also fund your business as you go along and that’s really keep cause they will provide you with the cash flows that you need. Because single-family properties, buying and selling it’s a good thing, because you’re gonna get big checks but in between those big checks you have expenses. But in apartment buildings you got cash flow coming in each month to cover those expenses until you get your next big checks and then when you sell that apartment building you get even a much bigger check, which is even better. So I also realized another thing its that the banks are our friends especially with what’s going on with the credit markets, the sub prime meltdown, if you’ve got an apartment building that cash flows properly the banks are gonna find a way to get you into the deal. It’s simple as that. They actually take a ratio they’ll take 75% of that net operating income, write that down. They’ll take 75% net operating income. And if the property cash flows they’re gonna find a way to get you in the deal. So with apartment buildings I learned that, you know I used to think that they call that multi families because there was a lot of different families living under the same roof. But I quickly learned that they call it multi families because multi families make multi millionaires. It happens very, very fast. Yes?
THAN:
Yep.
DAVE:
Alright so you want to talk about how to do this with little or no money down?
THAN:
Definitely, cause I know people on the call right now is saying how do I buy long term holds, how do I get in to apartment buildings, how do I buy multi families and I know probably some of the roadblocks are very simple. How do I get the capital to do this, where’s the money come from. Those are some major roadblocks that a lot of have in their minds. So show people how you can do this with no money down.
DAVE:
Yeah. You know I had to start with no money down because I had no money. Actually I was 29 years old and I had about $800 in the bank, and it took me 29 years to save that $800 and I didn’t want to blow it you know what I mean?
THAN:
Yep.
DAVE:
So what I did is I’ve gone to a seminar that said get as many credit cards as you can, get them with the non recurring fees and use those for your down payment. That works for my first couple of deals. And then I went into, I realized that I could get partners to fund my deals which is called equity. Now I want you to write this down folks ‘cause I’m gonna take you from buying small deals with partners to buying very, very large deals with partners. So I learned that I could go to my real estate investment group, I could get up in front of the group, I could talk about the deal that I had and I would ask for money partners. Now I would go to the back of the table at the back of the room and after I’ve talked about a deal I realized that after I get back there I get swarmed by different investors that are interested in being in my deal. So these are people with money but they couldn’t figure out how to get the deal. So when you figure out how to get the deal, I’ll show you how to do it step by step. You become the gate keeper and there’s a lot of people out there with money. So I funded my deal that way, they would put up, I would put up the deal they would put up the money and then we split 50/50. And that works for the first couple of deals and like I said that’s called an equity partnership. And that’s the fastest way to fund your deals. So write that down. Equity partnership’s fastest way to fund your deals. And after doing that a couple of times I thought you know if there’s some way I can do this without giving up half of that deal, I would like to do that. And that’s why I came up with debt partners. D E B T debt partners. These are people that will loan you money just like a bank will for a certain interest rate and you don’t have to give them any equity. And that is the cheapest way to fund your deals.
THAN:
Give me an idea, give me an idea Dave, what are some of the major advantages? Because it is the key to find the deal. If you can find the deal I guarantee the money is going to find you, same thing happened to us, we went to the same, my very first property that we bought we financed with credit cards and we even financed 6 of them with credit cards. But I know what people are thinking, you know what are the advantages of apartment building over single family houses. You know give us some advantages over the bigger buildings.
DAVE:
Before I jump into that just let me tell you one more thing ‘cause I wanted to go into angel investments a little bit. So with the private money partners I did that a couple of times and thought if there’s some way I could do this without giving up some of my money you know on the deal I’d like to do that. That’s when I started flipping single-family properties to get chunks of cash to buy multi family properties to create a chunk of cash flow coming into my house. And that worked out pretty good and you know what? After the first fourteen months, I had over $10,000 a month coming into my apartment, month after month after month. And Than that made a pretty big difference in my life. I mean think about it.
THAN:
Oh gosh.
DAVE:
How big a difference it would make in your life to have that money coming in right now, month after month after month. And you know what? After a couple of years, those, those, they started funding their own deals and my cash flows funding my next deal and that was working out pretty well. And you know what, as I said earlier, I was afraid to buy anything bigger than a 3 to 6 unit property for the first four years. And then my market took off and I had all these equity in my money and I started learning about market cycles, I learned that what goes up must come down and if I don’t sell off some of these properties I’m gonna lose the equity of ‘em. And what I want to do is I want to sell and take the equity and move it into another property so I could keep creating equity. And that’s when I started doing my emerging market philosophy. And I had so much equity in some of those buildings that I had to buy 40-unit buildings. And I had to buy 60-unit building and a hundred unit buildings. And I realized very quickly that, it’s just this easy to buy the big ones, as it was the small ones except there was one huge difference. And that is the amount of money that was coming in every month and the number zeroes at the end of the checks that I was cashing. And soon I thought, Wow! Instead of my goal at one time was to own a thousand units. I thought, once I get to a thousand units, that’s it, I can go and live in my own island somewhere and that would be the bomb. And I realized how easy it was to buy the larger buildings and I thought, I’m going to ten thousand units. And in doing that, I also realized that if I continue to fund my own deals, then I wouldn’t be able to get the ten thousand units. I was going to run out of money. Now I’ve become a multi-millionaire but I’m still going to run out of money at some time. So that’s when I started using the exact same philosophies of equity partners and private money with Angel Investors, write that down folks, with Angel Investors. These are high net worth individuals that are, they’re everywhere. You know Angel Investors right now and you don’t even know you know them. And in my system I’m gonna show you how to spot an Angel Investor in a crowd of “seemingly normal people” and you know who they are? They’re at you’re, they’re within your own family members. They’re at social functions, they’re in your church groups, and they’re everywhere. And if you don’t think you have any around you, I’m gonna show you where to go, what groups to join so you will have Angel Investors there that are willing to and want to give you money to fund your deals. This works so well that in the last 2 and half years, I bought over $94,000,000 worth of property. I’ve had it for $27,000,000 down and I’ve taken none of that out of my own pocket. I funded over $27,000,000. I’ve got my Angel Investors to give me to buy that property… to buy those properties. Isn’t it phenomenal Than?
THAN:
It’s phenomenal. It’s very, very true because I went through the same thing to raising money. And people don’t realize, they say, where am I gonna find this. You would not believe who has money. You go to your local investment club; you go to your local landlord association. There are some very wealthy people there. They don’t seem wealthy. They might not talk to them and they might not drive a Rolls Royce but that’s one of the reasons they are wealthy. They invested their money wisely over the years. And so they’re everywhere.
DAVE:
Then you just need to know how to ask. It’s a very simple process. You just need to know what the right words are and once you know the right words, like the magic words, the money comes out of the woodworks. It’s a beautiful thing. So people ask me all the time, you know, if you’re so wealthy, if you own so many different properties, I don’t know, I own about $240,000,000 worth of property right now, they say why do you continue to teach? Well I teach for three reasons. Number 1, my mom always taught me that when you get, you give back. I come from a very blue-collar family. And number 2, I now partner with my students. When you become partner, when you’d become a student of mine, you get a deal that seems a little bit too big for you. I don’t want small deals, I want big deals. But a deal becomes a little but too big for you. Bring it to me. I’ll go to my private investors if you have no money, I’ll get them to put up the money. They’ll get half of it then we’ll split the other half. Is that a deal Than?
THAN:
I’d say that’s a great deal.
DAVE:
Yep! And number 3, we’re, my company, The Lindahl Group is buying and selling multi-family properties in a regular basis. I’m now saying to my students, hey, why you don’t become an investor in one of my properties. I’ll bring them the property to the table; I’ll bring the financing to the table. Actually, if you the money or 401K or somewhere you want to place in and become one of my partners and partner with me on a deal, then we can do that as well. And that’s exactly what, this is the Stone Creek Apartment, 248 units. Those are 14 of my students. We bought this property. 9 and a half million dollars. We split $300,000 in cash flow every year. Is that a beautiful thing?
THAN:
It’s a great thing.
DAVE:
Yeah, it really is. So, this is, this is them. If you look in the top right, that’s them in the leasing office the day we closed. And Than, the day we closed, they walked into that leasing office and took it over like they owned it. You know why?
THAN:
Because they did!
DAVE:
Because they do. Yeah, we still do. We’ve own that for a year and a half now. That’s a phenomenal cash flow. It started out at $300,000 we’re up to $348,000 a year. It’s great. Yeah. So and here’s Reginald Pasteur. Reginald Pasteur came, actually went to an event where he’s a father of two kids, two great kids. He’s got a great wife and he works for 14 to 16 hours a day. He’s tired of working on all those different hours. He was driving in an hour to an hour and a half to and from work everyday and he wanted a better life. And he went to a convention. There was a number of different speakers there. I was there. And at the convention, if you invest into one of the speakers’ packages and you went out and used it over the next year; they would put you into a contest to win one of those cars in the bottom right hand corner. One of those sleek sporty sports cars. So Reginald wrote in to Sherman who emailed me and said, “Dear Sherman, I attended the convention. I listened to the number of speakers and after a careful consideration, the only person that seemed to make sense was Dave Lindahl. So I went ahead and invest in his training. To make a long story short, I bought a four family with credit cards for 134,000 equity, I put 15,000 with credit card money into it. It’s now worth 200,000. I refinanced that property and bought two more. Four-family with 205,000, put 205,000 and another four family for 300,000. Both of which have appreciated rapidly. I then bought a nine family with 1031 exchange from a town house that I bought earlier. I now own $1.1M of multi-family real estate all bought with no money down and have a phenomenal monthly cash flow. Thank you Sherman and especially thank you Dave Lindahl. P.S. Please consider me for the Viper.” He sure certainly deserves the win, don’t you think Than?
THAN:
He sure does. I love how he threw in the P.S. at the end.
DAVE:
Yeah absolutely. And you know folks, he’s a person just like you, listening and watching the exact same presentation, although he wasn’t in at that time, and he took action. And taking action changed his life dramatically. You see what he’s holding in his hand right there? That is actually one of these. This is a 14 carat gold plated million dollar bill. I get these from the Washington Mint. And I award these to my students that go out and earn a million dollars, oh actually, accumulated a million dollars worth of property using my no money down technique. I award this to my students that go out flip a property and earn a million dollar in a flip. And I award these to my student, that go out and get into the multi million dollar deal using my no money down techniques. Now, I’ve always been under the notion that if somebody else can do something, then I can do it too. Do you believe in that Than?
THAN:
I sure do.
DAVE:
Yeah, so if you could go out and do that, then we can all go out and do that. And as a matter of fact, that’s exactly what Robert Campbell thought. He said, “Dave, after I saw that testimony of the guy who bought the properties with no credit and no money, I though, if he can do it, I can do it. I saw you at the learning annex and bought my first property within 7 weeks with no money, I don’t have any and no credit. Thanks for empowering me.” Isn’t that a great story?
THAN:
It’s a great one. That’s true because success breeds success. And I know your students have had a phenomenal success with apartment buildings and I know many of your students personally who have invested money into the different projects and its work out wonderfully. And I know people that have gone in there and bought them with you as one of your partners. And its, that’s why I’m beyond because I see the success that you bring in this niche and there’s nobody better.
DAVE:
So win-win situation. That’s what we always like to create. That’s what makes the world go round. So hey! There’s three reasons to be in real estate. Money today, money monthly and money later. The money today is the money you get when you’re flipping your properties. These are the chunks of money that you’re gonna get coming in from the single family properties or multi-family properties. You’re going to use that money to buy multi family properties and create a cash flow into your life so you could quit that job very quickly. And then, the money later comes from your tenants paying down your mortgage just like Harry Helmsley said they would. And more importantly, when you buy in emerging markets, you’re going to see your appreciation just take off. It’s gonna sky-rocket of the charts. And that’s how we really become wealthy. You see the cash flow. This is a cue punch combo. The cash flow allows you to do what you want to do and the appreciation makes you wealthy. So you don’t have to worry about anything in the future. That’s the key. So you want to get into the advantage of apartment house investing now?
THAN:
Yeah, definitely. Let’s go through some of those differences because people need to know. They need to know and especially in today’s market when the markets come down significantly, you know, what’s the great strategy? I always tell people; right now we flip a tremendous number of properties but we’re buying and holding lot properties right now because the market’s come down. And you want to buy when the market’s down and you want to sell when the market’s up. So let’s go through some different advantages of apartments over single-families. ‘Cause I know a lot of people do single family investing on the call.
DAVE:
Alright. The first advantage is the cash flow because I like to say that cash flow equals power and power equals freedom. You see these checks? These checks are not, these are not rent checks, and these are profit checks. These checks come into my house month in, month out, regardless of what I decide to do. I can give half of these checks to my sister who is the mom of two kids. Who unfortunately, I took her son diving off a bridge over the weekend and he broke his arm and so I’m in charge of that. And that’s where some of these checks went to.
THAN:
It’s not funny Dave but..
DAVE:
I know, he’s okay. He’s okay now Than. Okay, good. And I know that in doing that, I get these checks in the very next month. Being from Boston. I’d like to go some place warm in the winter time. If I want to go to the beach and hang there for two months Than, what’s gonna happen every month while I’m on that beach?
THAN:
The same checks come in.
DAVE:
Oh yeah these checks are gonna come in month after month after month. Hey. If I go to Vegas and I blow every one of these checks, you know what’s gonna happen the very next month?
THAN:
Yeah. It’s going to be back.
DAVE:
These checks are coming back into my house. Folks, I am powerless to stop these checks from coming into my house. And that’s a beautiful thing. And I want you all to experience the exact same thing. You know, close your eyes for a minute. Close your eyes and imagine that you get these checks coming into your house every month, from this day forward, what are you going to be able to do next month that you’re not doing this month? Can you see it? Can you feel it? Sounds good doesn’t it? Absolutely. Now. What these checks represent is financial independence and financial freedom. Now for each of us it means something different. Some of us want to got out and buy a bigger house so our family can settle down. Some of us just want to go out and buy a bunch of toys. Some of us want to give more to a struggling loved one or back to our church. Financial independence and financial freedom means something different for each of us. For most of us, it’s taking care of our family. And for me, I come from a big family, I’m blessed. Like I said at the beginning we grew up kind of a little no class, very blue-collar. My father used to take us camping every year for the family vacation. We used to go to this place called Taboo’s Pond up in Maine. We have this one big pot tent. My two brothers and sisters and a dog. We’d be in that pot tent for a week or two weeks. And we loved it. It’s like the great experience. And now, every summer, I take my father, my mother, my brothers, my sister, all their kids to somewhere to a cottage, or either in a lake. The only requirement that I have is that the house that I rent has to be big enough so that we all fit under the same roof just like we had on the pot tent. And this is actually the picture of the clan. That’s us in Martha’s Vineyard. We’re actually going back there this year. We liked it so much. And that’s the famous writer’s house right on the water out there. And people ask we all the time, “Hey Dave, are all those your kids?” I said, “No, they’re not. The reason is because I’m still single. And so all you ladies out there, I’m still eligible. Because my mom always taught me, she said, “Dave if you don’t advertise you ain’t gonna get it. I said, “Okay mom, [bleep here].
THAN:
We’ll put a link to your dating website on here in just a second Dave.
DAVE:
So. Did you here what that voice just said?
THAN:
I didn’t hear. What did it say?
DAVE:
Some voice in my ear said invalid option. I wonder what that was all about. I don’t know there. But anyways, look the center of the screen. The woman in the white T-shirt, that’s my mother. And my mother was a fish cutter for 27 years. And my family always work with their backs and with their hands. And about three years ago, my mother came home from work, actually, I went over to my mothers house. It was Monday night, I was having dinner with her. And there was something wrong, I could tell. And father wasn’t saying anything; he was just looking down at the kitchen table. My mom was like; she’s moving the spoon around the pot. She wasn’t really saying anything. So I say, “Alright what gives? It seems like I’m at a funeral or something here.” And she said, “Well, they sold the fish market today and I no longer have a job and I don’t have a retirement.” We’re counting on that money to do the extra things in life and also to help us get by. And I said, “Oh my gosh, 27 years, same company and they close… and they sell and she’s out of a job.” So, in shock, I just went over to where she calls the junk and I just grab a blank piece of paper. I said, “Here mom, take this.” She said, “What’s that?” I said “That’s your new job.” She said, “Dave, that’s a blank piece of paper.” I said, “I know. Write down what you want to earn and what you want to do and just come over to my office and start working tomorrow.” I wouldn’t have been able to do that had I still been a landscaper. Multi family investing, That cash that comes in regularly allowed me to take care of my mom. Than you know wanna know what’s the first thing she wrote on that blank sheet of paper was?
THAN:
What did she write? I want to know what her job is description is.
DAVE:
She said I’d like to be golfing every Tuesday and be paid. That’s the first thing she wrote. She always want to learn how to play golf, so that’s exactly what she does, on Tuesdays she’s playing golf.
THAN:
I love it, she asks for days off before she even got hired, smart woman.
DAVE:
That’s right and she gets paid for it. So as a matter of fact I bought her and my father a lifetime membership to the country club so now she gets to golf for the rest of her life for free. Isn’t it great Than?
THAN:
I love it. I love it.
DAVE:
Yes Than she loves it and the guy right at the very center that’s my father in the center of that picture. And I’ll tell you know he believes in real estate now that guy and his telling me all those years ago not to do it, not to do it, not to do it. Well it’s only change the family around, and not only that if you look you’ll see my sister she’s in the pink t-shirt. She works in the office if you call in the office you might get her, you might get my brother Jeff’s in the picture you might get my brother Danny he works at the office. My nephews does a summer time work in the office and my nieces, my cousin Chris works here my Aunt Edna works here. Because I believe in taking care of your own. Do you believe in taking care of your own? Than?
THAN:
Definitely. I’ve worked, I worked with my best friends and we’ve hired 4 or 5 other friends of ours in the past and we enjoyed it, that’s why I, one of the reasons why I truly love investing in real estate because you can control your future, I know we have successful students and so do you that work with their spouses. And I know it’s not a good idea sometimes with their spouses you know but people love it, it gives you option, and life’s too short to not spend time with who you love. And so it’s very true.
DAVE:
And folks that’s what we’re able to do with the money we generate and think about all what you’ll do when you start generating the cash flow every month. What will you do with your family? Where will you take them, how will you better provide for them? It all starts with a goal, you can’t be a dreamer it starts with a goal and then you take action on that. Now the next thing you could do is, the next advantage is that you can do this part time or you can be your own boss. When I first started I thought, this is going to take, investing apartments is going to take too much of my time, and I won’t be able do that. I quickly learned that it literally takes 4 half’s hours a week, which is 2 hours a week to get started investing in multi family properties. Now think about it, how many could commit to just 2 hours a week to provide a better life for you and your family. All of us can, absolutely. And we can do this cause we’re going to hire good quality management companies to manage our properties. And what we’ll do is I own in 8 different states right now and I know that some management companies aren’t that great and a key player on your team is a good management company, so I always go to the same source to get the good quality management companies. And I’m going to share that source with you right now. Write it down. It’s www.irem.org it stands for the Institute for Real Estate Management. When you go to this website there’s going to be all this different types of designations there. You want to look for a CPM or an ARM. Certified property manager or Accredited Residential Manager. CPMs handle the big ones, ARMs handle the small ones. They are gonna give you a income statement report once a month. It’s going to have your income up above your expenses down below and your cash flow below that. What you want to see is you want to see this in a trends report, side by side you want to see each month, so you can see if your income’s trending up or is it trending down. If your expenses are trending up or trending down. This report takes about only 5 minutes to read each month. And if your income is trending up, you only have one problem and basically that’s how to spend the money, not such a bad problem. If your income is trending down, well then its time to call the management company, cause its the management company that does all the hard work, its the management company that does all the heavy lifting. You have got just one thing left to do, and that’s basically cash the checks. And that’s not too difficult to do is it?
THAN:
That’s not difficult at all, in fact what you bring up right now is one of the first things that I learned from you, when I was, we started buying multi family properties, we started doing it with a lot of profits flipping this single family properties and we were managing ‘em, believe it or not, in the first year and it was insane. We’re trying to do all the work. Finally I said Paul, Dave said we got to hire management companies, let’s go out there and find the best so we went right through the same process that you taught us and we found a management company, and literally our income doubled because were free to have more time. But just the amount of love for the business grew. Because I didn’t like it when I was doing all that self management that’s crazy, soon as we handed them off its like this weight came off of my shoulders. And I started to love the business again and it was just, that’s just a phenomenal thing that I learned from you.
DAVE:
That’s because you became an investor instead of a landlord there’s a big difference.
THAN:
Exactly right.
DAVE:
So the next advantage is you get tax from your money; you can get one or two ways. You can get it to refinancing your properties that you’re gonna buy with value plays and those can act as your down payment while you’re buying more and more properties. But whenever you refinance you want to be very conservative, only take out 75% to 80% of the money, don’t take it all out or you’ll build a house of cards and they’ll all come crashing down at you. We’re not going to allow that to happen. Second thing is we can do 10-31 exchanges. You can actually take a property, sell it, use all the profits at your next property and defer your taxes. It’s a combination of 10-31 exchanges in the merging markets that will explode your wealth. 10-31 exchanges plus the merging markets that will explode your wealth. Now I want you to write that down. 10-31 exchanges plus the merging markets explode your wealth. When I first started it took me 3 and half years to get 104 units. Then I started doing investing in merging markets, then I started doing 10-31 exchanges and with another 3 years I had over 2200 units, it’s very powerful. You could do less deals and make more money. Hey Than when you’re flipping single family houses what’s your average flip, how much do you usually get?
THAN:
We make around $27,000 a flip.
DAVE:
You must know your numbers cause that’s not a figure and I’m sure you do ‘cause you’re a great businessman. So $27,000 the average person use $20-$30,000 on their flip. Now the average mid size multi family property between 30 and 50 units you make between 200-300,000 on the flip. So think about it folks, how many single-family do you need to do to equal multi family. Anywhere between 8, 10 and 12. I don’t know about you hey single family flipping is a good business, but I don’t know about you but I like making money the easy way. I like to flip as many big family properties as I can, I still flip the singles, I flip as many big properties that I can to get those big checks. Do you agree?
THAN:
I agree.
DAVE:
Yep so I’ve got a student his name is Michael Burgens. He’s 52 years old. He is concerned about the fact that corporate America was outsourcing and downsizing now this is back in 2006, in December of 2006. And he said “Dave, I got two kids in college, I’ve got a nice wife if I get outsourced or downsized, if I get laid off I want to make sure that we don’t lower our standards of living first of all, and I also want to make sure that we can keep my kids going to school.” So I said, “Ok lets get started.” So he buys his first 31 unit property, its about a week before the end of the year in December and he says, “Dave I’m so excited I’m closing on my first property next week. I said, “Mike I know cause you’re calling almost every single day.” He says, “No you don’t understand, I’m actually closing twice on it next week.” I said, “What do you mean you’re closing twice next week? He said, “I’m actually reselling the property.” I said, “Mike why are you selling that property? It’s got perfect cash flow, great emerging market. It’s everything you’re looking for. Why are you reselling it?” He said, “Oh I’m reselling it because I’m making a $214,000 profits I’m buying an even bigger property and creating an even bigger cash flow just like you taught me.” I said, “Wow, you’re a good student. That’s a good student Than?”
THAN:
That’s a good student right there.
DAVE:
Absolutely, so while he was flipping his, I was flipping my own property, this is in January 2007, I got this checks for $352000 I was flipping a 40 unit property. The very next month, February of 2007 I got this checks for a property $360000 for flipping a 48 unit property. Think about that folks, these two checks came in February. How many of you could stop right there and that would be a good year for you? Most of us don’t you think? You bet! Now what would you do with the rest of your time? Well you would have what I call the attitude, you could do what you want, when you want, where you want for as long as you want and with who you want. Yes?
THAN:
True.
DAVE:
Right on. So somebody said to me one time when I showed this checks in the crowd, “Oh Dave those are real sevens haven’t you done anything recently?” I was like, “Oh please, you know we’re closing almost a complex a month up here plus in Boston area and where buying in merging markets. A lot of times we hold them for cash flow and appreciation, but at other times we all look at cash checks like this.” As a matter of fact this is a recent check that we’ve cashed. These checks came in last month $277438 that was for a 57-unit property. And then this one came $312,522. So folks once you discovered the system and start implementing it in simple step by step then you can very easily duplicate the results. As a matter of fact, 12 years ago I was a landscaper, I was dirt poor, I was a weed picker and I wanted a better life and aren’t we all in this webinar right now because we want a better life? Absolutely. And back then I created a system. And I created a system because no matter how hard I look there was nobody out there teaching me powerful techniques, it’s a very simple step by step system where you can very easily duplicate the results. All you have to do is get involved. Now are we ready to get involved? Some people are some people aren’t. You know when I go over the market cycles I’m going to get you really excited about how to take the next step. So there’s less risk in multi family properties than there are in single-family properties. You know if you’re going to hold your single family properties and I’ve done this in the past, you hold them and you lose your tenant what have you lost?
THAN:
You lost everything; you lost the complete cash flow coming in from that property.
DAVE:
100% of your cash flow and then where are you going to get that next mortgage payment?
THAN:
You’re going to have to pull it out of thin air or some other deal you got that’s for sure.
DAVE:
That’s right, hit national bank, and you know if you have a 10 unit property you lose a couple of tenants and you still got the cash flow coming in to take care of your mortgage and you have extra cash flow coming in. And maybe you’ll use that extra cash flow to put on maybe a single family property that you bought at the wrong time in the market, maybe you’ve got a property that has negative cash flow right now, and one of the fastest ways to get out of that situation is to buy a multi family property with somebody else’s money, get cash flow coming in and get yourself even and then start buying more multi family properties and then start getting actual money coming in every month instead of having a negative outflow coming out every month. So the more units you have under one roof the less risk in your investment are, it’s as simple as that.
THAN:
You know what I really like about your system is exactly that we were managing a lot of single family condos a couple of two unit properties we had somewhere around 20 to 30 units at the time, different properties spread around town and I remember going through your system and you quoting that and saying that over and over again in the CD’s. It’s easier to manage one 50 unit building. I remember talking to my business partner Paul and said you know it would be a lot easier if we just sold some of this and its easier to run a hundred unit apartment building than it is to probably run 7 or 8 single family homes cause you’re running around town in different spots. I mean it just makes a lot more financial sense and time sense to just manage 1 building or one large building and then add it in another larger complex and just keep growing it and growing exactly like you’ve done.
DAVE:
That is called economism skills as a matter of fact I’m going to get into that next. ‘Cause if you got 16 single family properties and you got one 16 unit property you know, you’ve got 16 roofs that need to be repaired or replaced sometime in the future or maybe in the near future probably off in the future but its gonna happen. You got 16 lawns to be mowed; you got 16 tenants all spread out for your time.
THAN:
That was me, that was me. See all those addresses about 5 miles apart each one going around it was a complete nightmare and thankfully I had a business partner Dave cause I let him handle that but.
DAVE:
I’m sure you appreciated that.
THAN:
He is still showing the signs of stress from those years.
DAVE:
Yeah, absolutely. So in the 16-unit you have one roof, 1 lawn and you have all the tenants centrally located, as simple as that. Hey you recognize that guy?
THAN:
I’d recognize that bad haircut any day.
DAVE:
Yeah that’s Donald Trump, and both you and I shared the same stage with him, we taught with him when he is doing and learning a next tour. That was a good gig and he’s a good guy. And as matter of fact I have just written my next book. And it’s called Commercial Real Estate 101 for Trump University.. And he could have chosen anybody in the entire United States to write his book, we co-authored the book. There’s a lot of people out there teaching commercial real estate but he chose me for two reasons he said. He said number 1 you’re out there doing deals on a regular basis which is important to him and he said number 2 I’ve seen you teach and I know its effective. So that’s book’s coming out sometime in the fall and I’m really proud of that, my mom’s even more proud of that it’s a good thing. So lets go to the number 1 fear of middle aged Americans it is dying broke, would you agree?
THAN:
I would agree.
DAVE:
Yep and here’s the other thing, maybe its not dying broke but being broke before you’re dead, yeah that’s even worse. Think about this folks, when you go to retire some of us want to retire off of $10000 a month some of us want to retire off $20000 a month some of us want to retire off $100000 a month. Whatever your number is, that equals a certain number of apartment units. Now all you need to do is accumulate those units and then you’re done. For the rest of your life you’re done. Now it’s not gonna happen overnight. You could go out and buy a apartment building and get a very large cash flow and you’d be able to quit your job in just one deal that’s good, but in order to actually stop doing everything and to follow your passion for the rest of your life its gonna take about 3 to 5 years. 3 to 5 years but you know what if you will do for 3 to 5 years what most people won’t do; you will be able to do for the rest of your life what most people can’t. And it doesn’t matter how old you are. I’ve got a 14 year old kid named Kevin Barwin out of Michigan who bought his 1st 40 unit property when he was 12 years old, because his parents got him the system for his summer vacation, for something to do. Imagine that. I’ve got a 77-year-old woman right up here in Rockland, Massachusetts named Edna Little she bought here 1st 58 unit deal, that gets her $2200 a month cash flow that certainly supplements her social security as she was getting before that. So it doesn’t matter how old or young you are if you will commit for 3 to 5 years you will be able to do whatever you want for the rest of your lives and that’s a beautiful thing and that’s why investing in multi family properties is so important. It’s like the best retirement plan you can ever think of. Because think about it, your rent is gonna be increasing every year. Because aren’t you going to raise those rents every year Than? Yeah, don’t your tenants expect you to raise those rents every year?
THAN:
They don’t like it but they do expect it.
DAVE:
They do and where not certainly going to disappoint them are we?
THAN:
Definitely not.
DAVE:
No way, were going to raise those rents and not only that just like Harry Helmsley said they would, they’re paying off that mortgage every month so they’re creating equity. So not only that you’re creating more money every year you’re also are getting more appreciation, you get more equity in your property and you’re creating true wealth as well. So this is why this is one of the best retirement plans that you can have and it only takes 3 to 5 years to establish it. What a beautiful thing. The Wall Street Journal says, “While single family markets bubble, the smart money is going into multi family apartments.” Whenever we want to know something’s really good do we sometimes go to consumer reports and check it out because if it’s written in there I mean it’s probably, I mean they’re pretty thorough on their investigation.
THAN:
That was like my mother’s Bible for everything. If it’s not in consumer reports we can’t buy it I remember it every single time.
DAVE:
Absolutely, consumer reports wrote, David Lindahl, the son of a Boston fish cutter, shows people how to create wealth with apartments. Now when my mother read that, she called me up on the phone and she said, “Dave I’m famous.” I said, “Mom what do you mean your famous?” She said, “Oh I’m in the consumer reports magazine.” I said, “Mom it says son of a Boston fish cutter.” She said, “I know that’s me!” She’s so excited. So if anybody ever gets the chance to talk to my mom and you can, she’s right in the office. Mention that magazine to her cause she just gets the big kick. But don’t forget, don’t call her on Tuesdays she’s not gonna be there she’s gone golfing.
THAN:
Mine take Wednesday off or Tuesdays, I don’t want to see her on Wednesdays either.
DAVE:
My mom said to me, you know, “Dave I’m getting pretty close to retirement.” And I said, “I thought you were retired Mom.” She said, “No, no I’m pretty close to retirement but I want you to know that I expect those checks to be coming in every week, you know.” I said, “No problem mom.” So far I’ve shown you how to analyze deals very quickly, very easily I gave you a very powerful formula. We’ve gone into how to manage Management Company so you don’t have to deal with any tenants and we’ve gone to a couple of extra strategies. 10-31 exchanges and flipping properties. At this time you’ve realized that you can do this, that’s its easier than you thought, that you could do it with little or no money, that you could do it without credit, that it’s less risky. That you could do less deals and more money and I’ve just one question for you, are you ready? Always remember, successful people take action. Now let’s go into market cycles, these are the four phases of a market cycle. Sellers market 1, Sellers market 2. Buyers market 1, Buyers market 2. Write down that graph that I have down there because I’m gonna have you take notes in your notebook. This is how the phases look on the graph, the important thing to know is that this phases always follow each other, they never skip each other so we know that when were about to transition we know what’s the strategy, we know what we need to go into next. That’s the biggest mistake that investors make, they don’t transition when the market does. And all of the sudden what was working before was not working as good anymore; they can’t figure out why but they keep doing it, what they’re really doing is they’re slowly going out of business. So you would want to avoid doing that, you will with the system. So we got a buyers market 1 going into a buyer’s market 2 into a sellers market 1 into a sellers market 2. Typically from peek to peek it can take actually 8 to 12 years to go full circle and in between those phases it’s anywhere from 3 to 5 years. So lets take a look at the seller’s market phase 1 and that’s the phase that I just highlighted in yellow. This is like a roller coaster so its going up the roller coaster I’m now going to give you the key characteristics of each phase and I’m going to give you the key strategies in each phase. So in sellers market phase 1 rents arising, jobs are coming into an area and the demand is at its highest point. So write that down, demand is at its highest point. Now your strategy here is to buy and hold and flip. Now this is the only phase, which you can do both buy and hold and flip, that’s because demand is so great. Here’s a property we bought in an early seller’s market phase 1. Bought it for $224000 sold it 13 months later at $320000. Didn’t do anything to it, management company took care of it. I went to one closing closed on it. Management Company took care of the tenants. They put a chunk of money in my bank account every month for 13 months and I got this checks $86446.22 because I bought it at the right time of the cycle and I just held it appreciated it. Folks think about how long it takes you to earn that amount of money, and how much blood sweat and tears goes into it. Is this now a better way? Oh absolutely. And then how do we get that one? In my system I’m going to give you over 9 different ways to attract motivated sellers I’m gonna actually give you complete marketing campaigns, all you have to do is take them out of the box and plug them in and you’ll have motivated sellers calling you on a regular basis. One of those campaigns is gonna be a direct mail campaign, because direct mail is one of the fastest ways to get motivated sellers to call you. And imagine this, you go to, you get the system, you open it up, you take the letters out, you address them out, you send them and I’m gonna show you exactly where to get the list. You need to get the list at the assessor’s office the tax collectors office or from a list broker. You’re gonna put the envelopes into the mailbox, your gonna go home and when the phone rings you’re gonna have the script that will tell you exactly what to say and when to say it. And I do that so that you’ll exactly what the, so you’ll know, so you’re speaking the sellers language. So you’ll get the confidence to know that you can do this. Now let’s go into seller’s market phase 2. In the sellers market phase 2, what happens here, this is the riskiest time of the market. Yeah sellers are still getting inflated prices but it’s taking longer to get those inflated prices. We’re starting to see more inventories come on the market as more supplies come into the market eventually, prices starts to drop and we’ve all seen that in a lot of different markets with single-family properties. And when the sellers market phase 2, the key characteristic is that’s its over supplied but what you want to be doing here is you want to flip, you want to be flipping your properties and you want to flip that property and get yourself into a cash position and hold on until your market correct stagnates and then when you hit the down cycle, which a lots of markets right now have, when you hit the down cycle, would you agree that cash can’t get into a down market Than?
THAN:
A hundred percent. That’s exactly what happened in our market and we were liquid and we were able to take advantage of it. And it’s been huge and that’s the same thing that we teach our students and the same thing that we follow from your philosophy and it’s been a huge.
DAVE:
Absolutely. Or you can do this, a lot of my successful students so this all around the country. Is they’re buying in their own market they’re flipping it and moving they’re money that money into emerging markets and while their market is correcting and stagnating their doubling, tripling, and quadrupling they’re money in emerging markets. Isn’t that awesome?
THAN:
Yep.
DAVE:
Here’s my philosophy, live where you want, invest where it makes sense. And that’s what it’s all about. Invest where you’ll get the highest returns. So from the sellers market phase 2, we’re going to a buyers market phase 1. The key characteristic here is demand has fallen to its lowest level. You want to be buying and holding for appreciation because there is no cash flow in this particular market place. The only thing that’s going to change this market happens down in the very bottom and its called job growth. And I want you to write that down. Because jobs and job growth is the key driver of all emerging markets. And there are three different levels or 3 different phases of an emerging market. They are, write this down. They are number 1 job announcements, because jobs get announced, jobs are announced, then people start to migrate into the area. Then there’s the construction of the facilities they’re going to house those jobs so you have the construction phase that’s number 2. And then number 3, what we have is the fulfillment of those jobs, so we have announcement, construction and fulfillment, three phases of an emerging market. Some of them takes 5 to 7 years for this to take place so there’s a lot of buying opportunity. You will become very wealthy in just one emerging market. After you realize how easy it is to do and after you’ve created your own wealth in one market. You’ll next move to the next market and another market after that and you’ll be creating generational wealth for your siblings and family and members to come, many generations after you. So in the buyers market, in the emerging phase of the market, or actually in the lower part of the buyers phase one, some of the best times to buy deals. This when your, people that have bought at the wrong time and they bought it at the top of the market are willing to sell and it gives you great deals. The very very creative at this particular point. Like here are the Froos Christine and Kevin Froo. The very first deal after getting the exact same system that you’re gonna get is a 51 unit deal, $1.5M, no money down, they got $52,000 a year in cash flow and $32,000 back at closing. Imagine that’s your first deal after opening up the system. 51 units. It’s one and a half million dollars. You go to the closing table, you have no money in your pocket, but they give you the deed to the property. You hand the management over to a management company, they take care of the tenants, they collect the bills, they pay the rent, they pay the mortgage, and they put a chunk of money to your bank account month after month after month to the tune of $52,500 a year. And because you came to the closing with no money in your pocket, they give you a check for $32,000 to put into that empty pocket. How many of you would this to be your first deal? Everyone and folks, my students do this all the time.
So let’s go into the buyer’s market phase two. The buyers market phase two is the millionaire maker. In this particular market, in a very short period of time, 3 to 5 years, you’re gonna, you’re gonna create, enough to think to retire from life from. You’re strategy here is to buy and hold and the key, coz you want to be buying with both hands, you want to be back up with that pick up truck and you want to fill it up to the brim. The key characteristic is that rent has started to rise for the very first time. Write that down, it’s very important. Rent has started to rise for the very first time. So how are we going to invest in the emerging market from the comfort of our own home. Well if you could do three things, if you can talk on the telephone, if can use a fax machine, if you can use your computer, you can be investing in an emerging market and in your own backyard for an emerging market. And I want you to follow these steps step-by-step. Number 1. You got to determine where these jobs are going. And I’m going to give you 7 different ways to go on to the internet, your computer to determine where those jobs are going. One of those ways is the census.gov. So write that down census.gov The next step is to call the Chamber of Commerce. You’re gonna find like I said 20 to 25 different markets where jobs are going into. Now you wanna make sure that those are the markets that you wanna invest in. You call the Chamber of Commerce. I’m gonna give you a list of questions to ask the Chamber of Commerce. They’re gonna wanna talk to you because they know that unless investors are gonna come in to their marketplace. Their economy’s not gonna change. So they love it when you call ‘em. They’re gonna treat you like the gold that you are. You ask them a couple of key questions, you know all those jobs coming in. What jobs are coming in next. If you have questions after that. And then you determine which to deal on at the end. Then you build your team. Now who are your team members? Well you’re gonna have an attorney, write this down. You’re gonna have an attorney, you’re gonna have real estate brokers, you’re gonna have property managers. You’re gonna have an appraiser, you’re gonna have a property inspector. And you’re gonna have a lender. And I’m gonna give you those scripts so you’ll know exactly what to say to them so they will want to join your team very quickly. And they’ll all start sending you deals. Why? Because when one of them gets a deal they all gets business. So now they’re gonna send you a deal over the internet via the email. A deals gonna make sense sooner or later. You’re going to write up the offers called the Letter of Intent. Write that down the letter of intent. You’re gonna fax it over to the broker. They’re gonna, usually negotiate a little bit. You’re gonna agree on the price. And then you’re gonna do what’s called do-diligent. This the most important phase Due Diligence. Remember this is an income property so we’re saying to the seller, “Mr. Seller prove the income.” Hey most of the time they can’t, sometimes they can. Well the Due Diligence avoid you from getting into bad deals from the very start. That’s what you wanna avoid. So if it turns out that they can’t prove the income well whatever they can’t prove you negotiate for that lower price because we’re buying based on actual numbers. So now we’ve renegotiated. So next step is to go to the property. We inspect the property. We meet our team there. I usually stay for a day or two when I’m in a new market. If everything checks out, go back home. Bank does the paperwork. It takes about 30 days. They FedEx you all of the information, you sign it in front of the notary, you FedEx it back and then you own the property. You’ve only got one thing left to do after that. What’s that Than?
THAN:
Cash the checks.
DAVE:
That’s right baby. Cash those checks. One after the other after the other. Cash those checks and do it again. Again and again and again. and that’s the key. You know I’ve got a student. His name is Victor Belle. He’s from Hawaii. He says, “Dave, you know, as you know I buy and sell using your system. Multi family properties in an emerging markets throughout the United States.” He said, “I very rarely leave Hawaii though to go there.” I said, “Why not?” He said, “I live in paradise and I’m only gonna go to a city if I think I can have fun there.” I thought, wow, what a concept. Folks, imagine your favorite vacation destination. Where would you go tomorrow if you could go anywhere. You have that in your head right now, yes? Okay. Now imagine you go there, and you get an apartment building that cash flows with one unit always being vacant. Whose gonna use that unit? You are.
THAN:
Me.
DAVE:
Your friends, your family members. Did you just make your trip down there tax deductible? Absolutely. Could you now go down there and eat at the finest restaurant in an all tax deductible? You bet. Folks, imagine the life that you’re gonna live when you own properties in Orlando or Las Vegas or Hawaii or wherever your favorite vacation destination is. Hey, here are the Schroeder’s. This is Bill and Janet Schroeder. Janet wrote in. She said Dave, since I took your real estate program in May, my life has changed quickly and all for the better. I found a deal in an emerging market in Oklahoma City, 101 units and an investor to partner with. It has a monthly cash flow of $6100 per month. She said, with the income from this property, I can now quit my day job. I never would have dreamed that possible when I signed up for your system just two months ago. I can’t tell you how excited I am. Thank you. Thank you. Thank you. My husband has now decided to start investing with me as well. You see, Bill thought investing in a real estate was a scam until those $6100 checks started coming in month after month. Then, scam no more. This is Bill and Janet when they were awarded their second gold million-dollar bill for getting into their second property worth a million dollars or more using my no-money-down techniques. Folks, I want you to know that it’s absolutely possible for anyone to get involved with this type of training. Whether you understand any type of real estate or whether you’ve been to any type of training. Because what I do is I take you by the hand and take you step by step through this process and I’m qualified to do this because I do this every single day. I buy, I sell and I negotiate multi-family properties. I own over $242M worth of property. I tell you that so you know that the information I’m giving you today, works today. And it’s also information that students just like you are using to go out to create the same type of wealth. So what I’ve done is, I take my last 12 years of experience, and I’ve broken it down to a simple step-by-step technique and I believe that anybody who wants to do this can do it and be successful. And what I’ve done is I’ve put together a special package that you can only get on this teleconference ‘cause I did this especially for Than. And the first part of the package is my hundred and seventy two page manual. This manual is all single-spaced. It isn’t triple spaced, it isn’t outlined formatted, and it’s all single-spaced. And what I do is I take you chapter by chapter through this on the fastest way to find bargain properties at 30 to 40% below market value. How to buy with no money down. There’s an entire chapter in there on how to buy with no money down. Market Cycles. How to determine where the next emerging market is and how to go out there and buy on your own. There’s a whole chapter on the Due Diligence checklist system. And there’s the checklist to make sure that the property that you’re buying is worth what you’re buying it for or else you negotiate for a much lower price. How to negotiate successfully? I’ve been doing this for over 12 years. I get the same objections over and over again. I’ll give you the objections handling techniques that works when you hear those objections and I’ll give you scripts so that you’ll ‘em right by your phone when the seller calls you, you know exactly what to say so that you have the confidence to know that you can do this. Next we’re going to another chapter on how to write offers to get accepted. And the structure. Should you buy sub-chapter [77:22 to 77:24] should you buy an LLC. It’s all in here. How to manage Management Companies so you’ not dealing with a single tenant and you’re getting the most cash flow you can in the most value when you go to resell it. How to sell for maximum dollars and how to explode your wealth with 1031 exchanges. ‘Cause some people want big checks, some people want big cash flow and a whole lot people want both. Just all of us want both. Would you agree Than?
THAN:
I definitely. In fact, we just 1031 the really big deal and we did our first 1031. I remember listening to some of your CDs in the car and this was years ago and you’re talking about 1031. It was a new concept to me. And we just did our latest 1031 for $190,000. And we’re 1031 over the 9 that we have. We have 7 of these going at all the time just building and building and building. And it’s one of the fastest ways to build wealth. It was just a phenomenal strategy that I learned from you.
DAVE:
Absolutely. And the next part of the system is my audio CDs. And in here there’s actually seven audio CDs. It’s me teaching what’s in the manual. There’s additional information on CD number 7 so on market cycles. There’s more on Marketing in number 1. And you can listen to this audios as you’re sitting in your home or in your car or truck as you’re going to and from that job that you’re now gonna quit once you start implementing this system. That has a value of $399. With that also comes a couple of CDs, my library of letters and forms, they’re all in here. Cost me over $9000 to create this over the last 12 years. You’re gonna get this absolutely free as a bonus in there. And with that, you’re going to use this forms, you’ll use them all at the same time. Which happens that’s going to save you a ton of money. And I want you to get started as soon as possible. And what I did is I created a quick start guide for 42 minutes I’ll show you exactly what to read, what to send out into a marketing campaign, what to listen to on the CD’s so you can go off so you can go out and have your first deal on the contract under 30 days, that’s the whole key. Once you get the hurdle of the first deal its all easy going after that. This has a value of $149. Also I’ve got two special reports. I got the 77 ways to fill your vacancies fast. Hey Than do you think I could actually come up with 77 different ways to fill vacancies?
Than
I know you do, in fact I’m looking through that you can see behind me, my bookshelf is on top here, hold on one second Dave.
Dave
Alright.
Than
There you go Dave.
Dave
Right on.
Than
I got my own, I got my own course right here and in all seriousness this little forms disk right here, this is what we use for all our apartments buildings. The leases, the letters I mean they’re very strong obviously, landlord friendly. Of course and..
Dave
Created through trial and error.
Than
Yeah, created through trial, believe me we got a lot of trial and error before we started using this sort of, any sort of system to manage our properties, there was absolute chaos, in all seriousness I do thank you for that ‘cause you really added a lot of time to our lives just to enjoy our lives by making it and going through the system. So I got it right here, and you can see my bookshelf’s right here I’m a strong believer in what you got.
Dave
Absolutely, you know what some of my most thankful students are students that are actually buying apartment building before they come across me before they got the system and they realized that all the things they were doing were wrong, how much easier their life is now that they’re doing it right. So why start off doing it wrong, start off doing it right. That’s even better so you can actually become wealthier faster than myself, wealthier faster than Than because now you have a system to go out and follow which we didn’t have, I didn’t have at the very beginning and he didn’t use in the very beginning. Another special report is the 23 most costly mistakes real estate investors make and how to avoid them. I made most of this mistakes they cost me tens of thousands of dollars read through this, avoid those mistakes and save that amount of money. Those have values of $59 each. We do a recap, the manual cost $499 the audio CD’s $399 the form CDs $149 the quick start $149 the multi – oh we didn’t talk about the multi unit profit finder. This is the gem of the whole package. You know when I started investing in real estate I was really concerned cause I’ve never been a good student and Math was not my strength and still isn’t. So when a friend of mine who is a software engineer, we created the multi unit profit finder. And what I did is I created a software were you can just very easily put in the income, put in the expenses or the mortgage amount and it instantly, it tells you whether or not you have a deal, tells you the cash flows gonna be 5, 10, 15 years down the road, tells you what your key ratios are, your cash on cash returns. And if it is a good deal everything shows up in green. If it is a bad deal they all show up in red, that easy?
Than
Yeah.
Dave
Oh man I made it easy for me you know, and not only that I’ve had people tell me that there are other commercial softwares out there but mine is the most user friendly. As a matter of fact I have a how about page I call it in there and if you want to know if you want to get a certain return for your money, lets say 10% or 20% or 30% well you put the income in the expenses, you go to the how about page, you put in the return that you want and it instantly tells you the most that you can spend for that property, the most that you can offer to that property you can get that deal that’s gonna save you hours of going back and forth with a pencil and eraser. And I’ll be honest with you I did it for me because I was constantly trying to work my deals out and nobody else has that features in your software, nobody. So this also comes with a manual but nobody really likes to look at manuals so what I did is I created a DVD of me actually going through the software and I go through the software myself and I actually recorded it on my home computer I show you how to use it its 47 minutes and you follow that you’ll be analyzing deals with lightning speed. Now I shouldn’t say that nobody like to go through manuals, because I know that there are people actually that do like to go through manuals. So this will put you into good deals but more importantly Than this will keep people out of bad deals do you agree?
Than
Its very true in fact I used that same software to analyze whenever we look into an apartment building and I say, I wanna analyze the deal, that’s the most important step is to figure out what that property is currently worth. To figure out if you raise the rent and what’s its worth. It’s a huge, huge advantage for anybody out there actively doing deals we use it to this day.
DAVE:
Yeah that’s the value of that, so total value is $1995 and want to put it all together, I don’t sell this separately I only sell this as a package . And I drop the package price down to $1295. $1295, is it worth it? Number 1 it’s gonna keep you out of bad deals so it will certainly worth it there. Number 2 it’s gonna create cash flow in your life. So lets take a look at Mark Snade, 62 years old close to retirement he knew social security won’t do it for him. He gets the system within 27 days he says I used private money to flip a four family made a $72000 profit he says I’m now in the process of flipping 10 units for a hundred and thirty two thousand dollar profit. The Stills, John Lovejoy and Dianne Stills say after being exposed to Dave’s practices and simple techniques at the learning annex. Within 90 days they bought a hundred unit complex at an emerging market in Dallas and two weeks later another 122 units complex Their first two multi family deals. Remember start where you’ll be comfortable they just have to be started comfortable big, and they said we’ll have over $11000 thousand a month of expendable income. They traded 1295 for 11740. They go on to say those two properties secured our retirement, thanks for sharing your knowledge Dave. Folks this is an opportunity right now, to get involved in a great business. And its 100% unconditional money back guarantee. If for any reason you take this home for the next six months, you take this home and you feel that this is not for you I don’t care if your dog ate it, if you’ve written all of it, if your kid got a hold of it and ripped some of the pages. Send it back and you get 100% of your money back. I don’t my make money on the courses, I do make money on them but I make my money on the relationships that I build with my students. And that’s what I’m really looking to do. As a matter of fact I give some additional bonuses and I’m only offering here with Than that you could only get here. And they are number 1, I know that two people can listen to the same seminar and hear the same exact information and one goes out and makes a ton of money and the other one goes out and does nothing. The one that goes out and does nothing can’t figure out why he’s not doing anything? Why it’s not working for him. Well I want all of my students to be successful and I did a study on that and I called it the principles of success, how ordinary people who become extra ordinarily wealthy. And in here, there’s four CD’s and there’s an 84 page manual and I take you step by step on exactly what successful people do. There is a formula to success. And its right here, took me a couple of years to study this, I figured out exactly what was happening. And I looked at my own life as well because of 29 years of doing nothing something turned on and all of a sudden I was very successful. So if you’ve ever looked across the fence to the guy across the street and wonder why he is so successful and you’re not its all right here. The principles of success, you’ll get this as a special bonus for only $249 you’ll only get this in this particular teleseminar offer. You can’t get that anywhere else as a matter of fact. Also, I know that I’ve had many students that have gone out and with the exact same system that you’re gonna get, have done million dollar deals with no money out of their own pockets. And what I did that is I took six of them that did 6 different deals 6 different ways and I figured if you could hear how they did it using the exact same system that you’re gonna get, you could use one of this ways and go out and do it yourself and you might even use all six. So I’m gonna add that as a bonus as well that is a $499 and I’ve got one more additional bonus. And it’s this we’ll go to the next slide. Oh I’ve got a newsletter. I’ve got 2 more additional bonuses. I’ve got my emerging markets newsletter, which you’ll gonna get. And you get the 1st two issues absolutely free. And in here what I do is I show you what’s the next emerging market’s going to be. On page 6 and 7, the market report, this is what everybody looks for. And I’ll get you into the next emerging market before anybody else gets in there. My students pay me $49 a month to get this but you will get this absolutely free for the next two months. So Than sorry.
THAN:
Yep.
DAVE:
You get the apartment house riches manual, the audio CDs, the forms CDs, the quickstart program, the software, the 2 special reports, the principles of success, the newsletters, the million dollar deals. And I’m gonna do one more thing. You heard Mark Snead talk about a boot camp. Well I do one day boot camps all around the country. I charge people $1499 to be there individually by themselves, only one person for $1499, and at those boot camps I take you step by step to the analysis process, step by step to the marketing process, wherever city I’m in I give you the best areas to be investing in that city right then and there. I give you the 5 top markets in the United States to be investing in right now and more importantly I go to the Angel Investor process, I give you the presentation that you need, the things that you need to say, to get angel investors to give you money in your lives. So if you have no money to go out there and start doing deals then this is where you’ll get you’ll get money sources and If you have money that’s ok because eventually you’re gonna run out if you don’t start using other people’s money. I’m gonna add that in as well. So total free bonuses comes to $4100 and I’ll actually allow you to bring a spouse or a family member with you to that one day boot camp as well and if you cant make the next one in the city that’s closest to you we can always bring you to the next one as well, we’ll give you a lift and you can decide which one you wanna go to. So $4100 in bonuses for $1295. Why all the bonuses? Because I want you to get started with the system. I want you to partner with me on a property. I make my money with the relationships that I create with my students. And as a matter of fact Than I know you have the best students out there. So I’m gonna give the best possible price, can I do that?
Than
You sure can give us, give us something really good here.
DAVE:
What I’m gonna do is I’m gonna lower down to $995.
THAN:
That’s good.
DAVE:
$995 you can only get it during this teleseminar and the reason its so good is because not only you get the one day boot camp you also get those 3 extra bonuses that you can’t get anywhere else and that could be the difference between success and failure. And I know that you’re gonna be successful. So here, here’s something else, how about if I offer it to everybody for free Than.
Than
Let’s hear this. Let’s hear this.
Dave
Alright. I’ll make a deal with everybody on this call, on this call only. You go out, put a deal under contract and close on it within the next 90 days. 2 units or above. It doesn’t have to be an apartment complex. Just need to be 2 units and above. You just have to close on it. You don’t need to resell it and I would give you the $995 back, how’s that sound?
Than
That’s great.
Dave
That a deal?
Than
That’s a great deal. That’s a great deal.
Dave
So why do I do this? I do this because some people thrive off of a challenge and this is a challenge. Some people needs a kick in the butt this is your kick in the butt. But more importantly those that accept and fulfill the challenge usually come back and partner with me on bigger deals. And that’s what I’m really looking for. You could go on, you wanna tell everybody how they can get involved?
THAN:
Yeah, if you guys wanna actually see what Dave’s talking about and pictures of everything. Go to webREU.com you can register there right online, its webREU.com, you go right there at the site, you register and you’ll get everything that he is talking about at the 995 pricing. Just a personal testimonial for you Dave. I’ve had your course for quite a while now and I didn’t get any of those bonuses that you have given out so I gotta, I can tell you it’s a lot worth a lot more than 995. I mean folks when you get in there to managing properties it’s insane some of the costly mistakes that you make. I mean ask me when I was going through and learning the game and learning how to become a land lord, I mean there was so many mistakes that we made along the way and I remember when we picked your course up a long time ago, I mean it made our life so much easier and you’re getting a phenomenal offer and I know his got a lot of those bonuses because those are new things that he’s created. So you’ll get everything that he’s talking about, webREU.com that’s a completely secure shopping cart that you can order there. You can also see pictures there. You can also call my office if you want 2037891111 if you wanna order over the phone I tell you its very easy to do right on the computer so go to webREU.com and you can register there as well.
DAVE:
Alright now I got some actually I’ve got another special bonus for the 1st 12 that joined up but before I talked about it and you’re gonna be wanna. I wan you to hear about you’re gonna be, want to be one of the 1st 12. Lets see some people that have taken the challenge and they’ve gotten their money back. Jason Rodriguez only two shorts weeks after getting his system and putting his strategies to play I found a property that I was interested in and I used your awesome software and like magic he told me how to deal. I have over $600 a month in cash flow and $50000 in equity and he got his 995 back. Leslie Chung did two deals, within four weeks she got a property with $447 per month cash flow, 5 weeks after that she got another one with $740 in cash flow and 9 weeks she get over $1200 dollars in cash flow month after month after month and she got her 995 back. Acer Cult writes in and says, “Hey everything you said made sense. I really wanted your complete investors package, your money back if I buy a multi within 90 days really made me go ahead and take the plunge.” He goes on to say that he bought his 1st property with just $2000 down and he has over $4600 in equity in it. He says but he’s not gonna sell it because he gets over $950 a month and he got his 995 back. Karen Brodie, purchased two 3 families not over $600000 in an up market. These folks $4200 per year in just 77 days. Patrick Stamford 2 deals $76000 in profits in two months. Ralph Jordan 4 weeks $6500. Rich Chasey, $175000 by flipping a 10 unit into a 12 unit. Folks I could go on and on and on but students have taken the challenge and gone out there and not only gotten their money back but have gotten large cash flows, they’ve got large cash flows and also large profit checks as well, but I’ll tell you what I got 1 more special bonus. For the 1st 12 that sign up, how many would agree that if you could talk with me on a regular basis, you know one on one you could call me fax me or email me that you’ll be even more successful, would you agree that’s true?
THAN:
I definitely agree.
DAVE:
So that’s what I’m gonna do for the next 90 days I’ve decided that I’m gonna be accessible for a short amount of people the 1st 12 by phone, telephone. Now you can call me, a lot of people offer this and they say oh you can fax who knows whose getting those faxes. You can fax me as well if you don’t wanna talk to me, but if you wanna talk to me, you can email me, fax me and we can discuss whatever you’re doing, you’re going through the manual something you don’t understand give me a call, are you going through your 1st deal and you want me to take your hand and walk you through it step by step Give me a call I will do that. And you know what? I’ve realized that yeah, say it’s for 90 days, but I actually become friends with you by the time we’re done and we create relationships and its great. Because now I have relationships with investors that I’m going out with doing the exact thing I did, starting small or starting with medium sized properties and creating a lot of wealth very quickly so what I’m gonna do is I’ve got that certificate right here, you’ll get this 90 day consulting certificates if your one of the 1st 12 only. This is part of a high priced coaching program it has a $2400 value. And you will get this absolutely free. I can only do this for 12 because I am a full time investor and this is how I make my money. And I just have limited time. But I enjoy doing this and it gets me into big deals as well so that’s what I’m doing Than for the 1st 12.
THAN:
That’s a great, that’s phenomenal offer. I mean you have to realize this is a, gentleman owns over 5400 units. Hi offering you his time take advantage of that offer. When you’re looking at apartment buildings, when you’re looking at any type of deals to get access to somebody like that is invaluable. I’ve had a lot of mentors over the years that I’ve studied under and have helped me immensely and I can tell you it’s a phenomenal offer to you guys your getting. So go there, right now its web.REU.com. You can always call our office here 2037891111 once again that’s 2037891111 if you wanna order over the phone, definitely take advantage of it, I think it’s a phenomenal offer and I wanna thank you personally Dave you’ve helped me a lot in my investment business. I’m always been loyal to people that have helped us along the way and I think you’ve got a phenomenal system that we still use up to this day as you can see I got quite a few systems up here that I’ve used that have really helped my business. So it’s something that I think, in all honestly will help you immensely.
DAVE:
Absolutely.
THAN:
So Dave, thank you very much and more importantly thank you everybody for being in today’s webinar, I know you’ve got a lot of it as I have as well. And thank you very much for being on it, thank you Dave for everything.
DAVE:
Thank you Than. Yep it’s been great.
