Meet Stacey! She's a member in our Pro Wholesaler VIP Program from Northern California!
In this interview, Ryan Zomorodi (COO & Co-Founder of Real Estate Skills) covers:
Ryan Zomorodi (00:00:09):
All right. I'm here with Stacey who's an amazing member of our Pro Wholesaler VIP Program who's wholesaling real estate in California. She's based in the San Francisco Bay, California area which is arguably one of the most competitive and most expensive real estate markets not only in the country but in the world.
She's had some amazing success. I've had the pleasure of working with her these past few months. So I'm just really excited to have you here today, Stacey, to chat about your journey as a real estate investor. How you doing Stacey?
Stacey C. (00:00:41):
Thanks. I'm doing great. It's good to talk to you. As Liz mentioned before, it's so good to actually meet you in person here on the... Because you're a voice, you're like a disembodied voice or an email, right? So it's awesome to see you. Yeah.
Ryan Zomorodi (00:00:56):
Yeah, absolutely. Yeah. On our calls, it's mainly we're chatting and doing screen shares and so we don't really have that face to face. So yeah, it's definitely a pleasure seeing your face as well.
Stacey C. (00:01:07):
Ryan Zomorodi (00:01:08):
So yeah, thanks again for being here. Definitely really excited to dive into your story. To start, maybe if you want to share kind of what you're doing before joining us in the Pro Wholesaler Program, any prior real estate or business experience that you might have had before joining us?
Stacey C. (00:01:26):
Yeah, yeah. Well, nothing would be complete unless I said that I was a single mom, raised my kids all by myself from the time they were 10 and eight years old. They're like your guys' age now which cracks me up. Anyway, yeah, they're 29 and 31 now.
But so I really wanted to be there for my kids. So during my whole adult life as a grown-up, I was just self-employed. I've always started businesses. I had a jewelry business while the kids were little. I had an art business. That was great.
I did site-specific installation for large sculptures. I did that for about eight to 10 years. That was kind of my big girl job when I had the house, the mortgage and the kids and the dogs, and all that.
Stacey C. (00:02:16):
But I have to say that in my early career, my aunt had her own escrow company in the Pacific Palisades. So she kind of pulled me in there to work for her. So I worked for her for two, three years. All those numbers were like frying my brain. But you get really good at it.
From her space, I went and worked for a real estate developer in Southern California for about two, two and a half years. So I spent my early career doing that. I got really familiar with frame walkthroughs and blueprints and the marketing.
Eventually, I was doing more of the property management, the model home renovations and maintenance and all of that and then got married.
Stacey C. (00:03:01):
So anyway, but was very more traditional kind of situation where I was just really driven to be home with the kids and I had the luxury to do so. So yeah, everything I've done, I've just kind of kept it reapplying my skills. Let's reapply my skills.
So the thing I was doing immediately before this, and it's really labor of love, I'm very passionate about it, but I work in the natural product industry. In Santa Barbara, I started as a local buyer for Whole Foods and you get into all the animal welfare and all of that and clean food.
Stacey C. (00:03:46):
Whole Foods did all their layoffs pre-Amazon purchase. So I started working as a food consultant. So I was helping brands launch. But everything's very tactical. I have to say that because I'm used to talking of talking to people, I'm used to showing up face to face, I'm used to meeting people where they're at.
I just feel like I had my own level of equipness to do this. I have to say that also you own, however, I've owned and sold to homes during all that. But to me it's just technical stuff to pick up and no doubt that I can just set huge goals for myself with this.
Stacey C. (00:04:29):
I want to say that during COVID my business took a big hit. I was just tired of waiting and I was tired of putting things on hold and I had already moved in a new direction, put up a website, and then all of a sudden in June I started looking at all this real estate investing and the old model of the 70% and the off-market properties.
And I realized what they weren't saying was all the thousands of dollars I would have to spend in marketing and skip tracing and robocalling and all stuff. I just got so disheartened and almost nauseous, because, gosh, haven't we all been down some of those roads before with the postcards and the mailings and all that, anybody who's been in any kind of sales.
Stacey C. (00:05:12):
So anyway, I had already seen Alex's presentation, and then I had filed it. Then I went through this kind of six-week free thing, this lady in Texas, really adore her, but I didn't want to pay what she was charging. Also, it would be on top of the thousands, maybe 10,000, 12, or whatever, of investment before even closing my first deal in which I might break even, right?
Ryan Zomorodi (00:05:43):
Stacey C. (00:05:44):
So I revisited Ryan's program, his presentation, after dealing with all the other ways, it felt so ethical. I felt like I could get behind it. As you remember, I've had several questions about my ethics during this thing and standing behind what I say and making sure everything that I can stand behind what I'm doing. So I invested in your guys' program in July, so. Then I really didn't start, I set it up, but I didn't start working.
I set my official start date of September 1st. Then so by the end of October, I had this first deal in backup and that happened super fast. But as you know, I was on the ask, trying to be encouraging, but also, hey, can you help me? What do I do about this and all that.
So just was very engaged in the Skool platform and tracking your answers to everybody else too because we're all going through the same thing.
Ryan Zomorodi (00:06:45):
Yeah. That's what I really love and respect about you, Stacey. I mean, you clearly have a very self-starter personality. Like you shared, being a single mom, having different roles throughout your career, really making the shifts as the world shifts as well. From going, like you mentioned, as a Whole Foods buyer to then being that consultant.
So that's that shift that a lot of people don't make because it does require that self-motivation and really just drawing on within yourself. So it makes a lot of sense now because I've always seen you as very communicative and someone who has the audacity to reach out for help and is someone who really can connect the dots.
So definitely your experience speaks to that as well. So, yeah, I really appreciate you sharing that.
Stacey C. (00:07:38):
Ryan Zomorodi (00:07:39):
Yeah. As you mentioned, you were able to, you set your start date as September 1st. I've definitely enjoyed all your questions. You've really been able to leverage the program the way anyone really should to get the most out of it.
I think that it shows with your recent success. So maybe if you would want to share kind of how the experience has been after joining and maybe your expectations versus reality when you're in the program and some of the support and resources that you've been able to leverage to ultimately land that first deal.
Stacey C. (00:08:16):
Great. Well, if I don't answer any of those multiple questions, please redirect me because I feel very opinionated about the whole thing in a good way. After having listened to other people's presentations, and there was another group that I also really respected, there seems to be a... There's kind of a vibe, like a community vibe that I need to resonate with the community as well, right?
Stacey C. (00:08:47):
So my experience with the program was that I have mad respect for all the years that Alex and you Ryan have put into this. I just really took the time to consume the videos, to take massive notes, to revisit the videos, to see how I could apply it to myself.
There's certain things that I still don't know how to apply to myself, namely the new age social media presence, because everybody knows me a certain way and I just... Anyway, that's a whole other thing, but so anyway, yeah, I stayed really close to the program. I didn't go all off.
Stacey C. (00:09:35):
Also, Alex was very clear about making sure that you're asking questions that aren't already addressed. So I really wanted to go through the majority of the program before getting confused or frustrated or whatever it was, because you're taking in so much information, right? I was very intimidated by my area.
I had to stop listening to it's so expensive, there's nothing going on, you're not going to be able to work on the MLS. I just had to tune everything out and just trust the process, basically.
Stacey C. (00:10:13):
Yeah. The main thing, and I have expressed this in the group, the main thing that I felt when I was doing this first deal was very equipped, right? I happen to be evaluating another rehab in the area.
Sometimes, I'll look at fixer comps, fixer specific, because there's lots of houses that definitely need to be fixed up. You usually find them by their price point, like why is that so low?
Stacey C. (00:10:43):
So the other house, I also had put an offer in, but it was super low. At the same time I met the agent at this house. It was right around the corner in San Anselmo here where I live and he just kept it. He said he had an offer in and normally that would kind of go, oh, is it worth it? He just kept encouraging me to put the offer in it.
I didn't put it in right away. I kind of noodled around with this project because it was an abandoned rehab and there were... I could see there was a lot of issues to deal with.
Stacey C. (00:11:20):
It was already gutted to the studs. It had been sitting there for six years. All the permits had expired. They had moved the back of the house. They'd reoriented the house. It seemed like everybody on the street, there's a really busy street it back up to, and so everybody reoriented their homes.
Anyway, there were all these things. Then he said his first offer was very strong and they wanted 1.5 for the rehab, something like that. Or maybe it was one point, but it was really high.
Stacey C. (00:11:58):
So I came down and offered 1,050,000. I thought that's respectful. I can still work my numbers. I was really excited about, and this is what I want to talk about is I was really excited about the fully rehabbed comps, not just the down the street comp that everybody was referring to. But I was looking within a half a mile at the fully rehabbed comps.
I was super excited about what they looked like. I mean, they were totally over staged and everything, but I could see what these 1930s houses were doing to keep the charm, but to modernize.
Stacey C. (00:12:39):
So I just got super juiced and I was like, "This is looking good for a nice big ARV at the end of this." It's a huge piece of property. It's got lots of potential. It doesn't need extra square foot, like the home... You don't even get more value out of more square feet after a while.
It's around 1,800 to 2,000. So I just kept noodling around and finally the agent didn't want to do dual. So he connected me with this gal and I just picked her brain and she was so helpful and I'm like, "Okay, let's do an offer. I'm ready."
Stacey C. (00:13:16):
So it's not something that I did very quickly. In fact, normally waiting like that, I would lose my opportunity. But I wasn't 100% on it. She said, "Look, we're putting in your offer, but the agent is not sure of the first offer. He's just unsure of it. So just get ready because things might happen fast." So she called and probably within three days, she goes, "Okay, clock's ticking. You're now in first." I was like, "Crap."
But I just went on it. You know what I did? I re-watched all those last things. How do I sign a contract? I wanted to make sure I had everything down. I even re-watched your very detailed California contract thing while I was cooking dinner.
Ryan Zomorodi (00:14:01):
Stacey C. (00:14:01):
I'm like, "Okay, okay. Here we are." I just made sure that to the letter I followed everything. Even Alex's voice, like when you call to , when you say, "Oh, finance partners is going to... Who's coming in with the most money? We're going to have to put it in his name.
Can you please pull that assignment contract?" I was doing it as cool as a cucumber as possible. Like can we do this all day long? I had Alex's voice in my head. Yeah, and she goes, "Oh. Oh yeah. Okay, here we go." So she pulls it.
Stacey C. (00:14:40):
While she was doing that, I had my buyer sign my indie contract. They signed off on my fee I was expecting because I put 20K in there. I was expecting to be negotiated with. Nobody touched it. I'm like, "Cool." I also did that 25% upfront thing to protect myself should they kind of back out and they did that.
Then I negotiated him to take care of it outside of escrow. But after the fact, I realized I might have felt more comfortable if I put the indie contract into escrow because the officer will pay it per the contract and then you don't have to even think about whether, oh, they're going to head to the bank and wire those fees.
Ryan Zomorodi (00:15:27):
Stacey C. (00:15:28):
But they worked with me outside, but I knew that they were legit because they wanted everything in escrow. He took it over. The cash buyers took it over and everything just worked like clockwork.
I just sat back and went, "Okay, what do I need to do here?" He did make me nervous a few times before wiring the earnest money which was already delayed because of the assignment. He started asking me about the property report. I'm like, "Dude, this was all submitted with photos."
Stacey C. (00:16:06):
I was like, "You got to get that money in before the deal blows up." So he goes, "Oh no, I'm not blowing up the deal. But what about this? What about that?" Anyway, that made me a little skeevy I have to say, because you don't want to also be defensive and say, "Hey dude. Stop. Just get the money in." I had to maintain my cool because-
Ryan Zomorodi (00:16:31):
Stacey C. (00:16:31):
But yeah, these guys, the other thing that I had shared was, look, I had these first two cash buyers. I thought either one of those would grab it because they're very active up here in the North Bay and one of them hems and haws about costs and this and that and blah, blah, blah. He loudly passed on the deal and he goes, "See, this is why I don't like these MLS things and blah, blah, blah."
I was like, "Okay, okay, okay." I just like next, and then I got turned down by the other one and she had almost double my rehab and I'm like, "Yeah." Okay, so next and I just kept moving on.
Stacey C. (00:17:13):
Then I had two meetings at the property on the day the EMDs, on the third day. The first guy left and then the second guy showed up for his second visit. I'm just saying the first guys knew that somebody else is looking at it, they called me less than five minutes later and asked me for the wire transfer.
So it was very fast. My adrenaline was on overdrive because I was like, "Got to go home, got to get the..." So anyway, I hope that wasn't too long winded, but it was super trippy the way it all fell into place. I was re-watching all the videos at the very end just to make sure I was saying the right things and doing the right things. Anyway, all that.
Stacey C. (00:18:02):
So I can't even tell you how confident I felt because of just following the program. It's the framework, it works, do that. Then the one thing I have to admit is that I don't put in an offer a day. I can't even get there. I do have a backup of usually about six to 12 properties to evaluate every day, but I can't get to them all because there's just so many factors involved in these.
There's no apples to apples comps. There is some level of speculation. Anyway, that part of the program, I would hope to aspire to maybe do four offers a week based on the conditions that I'm working in here, so. But I still want to reach my goals and so I will have to book it.
I'll have to book it and see how long takes me to get my next deal down. So I hope that happens. Yeah.
Ryan Zomorodi (00:19:14):
Absolutely. Yeah, no. I really appreciate that. There's so much to unpack there.
Stacey C. (00:19:19):
Ryan Zomorodi (00:19:22):
Obviously this deal was in the San Francisco Bay Area. It's somewhere where people will have those negative comments. Oh, you can't get a deal there. There's no deals to be had. MLS doesn't have any deals. So that's one thing that you were able to overcome being in the market you are. This was a million dollar deal over, over a million dollar purchase price.
Stacey C. (00:19:43):
Ryan Zomorodi (00:19:44):
You were able to do this deal without having any of your funds in transaction. So that's one of the strategies that really makes this wholesaling in general very appealing is that you can do it without risking your own capital and even having to close in the property as well.
Ryan Zomorodi (00:20:02):
And also you mentioned your offer wasn't the first one to get accepted. So you still put forth an offer. It did go in escrow with another buyer. So someone came in, they offered a lot higher, there was a much stronger offer, as the agent said, that you still put forth the offer and you were in a backup position.
So, and that's one of the things that we recommend even if that offer doesn't get accepted. We do find on the MLS properties, yes, we are often making not the highest offer. So using that strategy, you were able to get the deal. You were able to slide in and take control of that contract when that first buyer couldn't perform. So, yeah.
Stacey C. (00:20:45):
Well, the other deterrent was that the first buyer was a homeowner and the property, it was another property that wouldn't qualify for a regular loan, right? And then the homeowner, they just realized that they were in over their head.
But these, when... And homeowners will often come in and swoop these up because it's their opportunity to get into real estate up here and into do it themselves or whatever. So those are hard to compete with.
The program says that as well. So that would've also been a deterrent if I knew it was a homeowner offer because I assumed that they were all investor offers. But yeah, everything, I just... Yeah, I'm just so glad I listened to my gut, and also I was really, I wanted to say about the agent is he knew it was a problem property. And here's another thing.
Stacey C. (00:21:40):
If I did have to back out, he has somebody in backup behind me. The next day, he had somebody in backup behind that person. This agent was so savvy. He did not want to leave the homeowner hanging. The thing that gets me though is that the prices went down exponentially. That just kind of happened. You know what I mean.
Ryan Zomorodi (00:22:01):
Stacey C. (00:22:01):
It would've been nice to get a better deal, but one of, 15,000 more whatever, it didn't make really any difference in the budget, you know what I'm saying? It didn't really move the percentages anywhere. You couldn't come down too much lower. You could maybe come in at 975, but that's only what, 70... Anyway, it didn't really make much of a difference at that level, so yeah.
Ryan Zomorodi (00:22:27):
And like you said, this whole process, it's part art and it's also part science. So it's a combination of both. Appraising a property, which is essentially what we're doing when we're finding the after repair value, that is more, it blends the art and science.
It's subjective. We have to look at the differences in the property like we were talking about earlier, the unique factors in a particular piece of real estate. But then there's also the mathematical portion of it that we have to kind of blend it together, the price per square foot of relative comps, the proximity to other comparable sales, days on market.
Stacey C. (00:23:05):
Ryan Zomorodi (00:23:06):
So there's a lot that really goes into it. So, especially when you're in a higher price point, the things can swing a little bit more for better or for worse. But also the profit margin is, has usually a large enough cushion so where that swivel can also kind of be absorbed by the investors.
Stacey C. (00:23:25):
Ryan Zomorodi (00:23:25):
So it's really cool that you're able to lock in a price and you didn't take no for an answer. You had your buyers lined up like we prescribe, is you have your vetted relationships, you prime them to expect these kind of deals from you.
And so, you already had those conversations in the works beforehand. So it wasn't a surprise. You're not just this Wholesaler on Facebook Marketplace trying to flip a contract real quick.
You actually had these relationships in place, which I'm sure helped, and as you can see, when some buyers will say no, they might have a different rehab cost, they might have different plans. But the property, there are other buyers who will take it all day.
Stacey C. (00:24:08):
Ryan Zomorodi (00:24:09):
And you did something so important, is that you created a sense of urgency and you created a sense of scarcity.
Stacey C. (00:24:15):
Ryan Zomorodi (00:24:15):
And those two of some of the most important things when you're selling anything is that, hey, if it's something scarce, there's another buyer looking at the property, the deal might not be available in an hour, then that buyer did not flinch at your $20,000 fee.
Stacey C. (00:24:33):
Ryan Zomorodi (00:24:33):
And you were able to jump right in and send you their wire instructions as you mentioned.
Stacey C. (00:24:38):
Ryan Zomorodi (00:24:38):
So way to go. It's-
Stacey C. (00:24:40):
Exactly. He was completely undaunted by my fee. He's been dealing with Wholesaler, "Wholesalers" I want to say, the average Wholesaler. He said that one of the biggest issues that he has is that they don't count their wholesale fee inside the cost, inside the offer.
So he said he had some guy come after him saying, "Now you owe me 100K," and he's like, "Well, where is that in the deal?" I go, "No, no, no, no, no. I've got it all figured in. I've got, it's, it's, here's your..." Anyway, it was interesting.
There's kind of an anti-Wholesaler vibe. But now they know me, and I have to say that I called, because they've got the main guy who did the deal and then they've got their contractor guy who's also an agent, he's... The contractor's the one who met me at the property.
Stacey C. (00:25:31):
I called the contractor. I ended up talking to him today because I wanted to get how he... I wanted to get down how he estimates costs when he's looking at a property. He spent a lot of time with his flashlight on the foundation, and he's like, "Well, it's already gutted. So you can see there's dry rot here, but there's none over here."
So there's nothing hiding in walls. And he just... Anyway, it was cool. But, so I was able to get kind of an idea of how he averages and is, there wasn't a line item thing like we have but it just kind of gave me an idea about how to go over costs. And then he said, because this properties in, he goes, "By the way, I can't get ahold of the city of San Anselmo for my permits," and I'm like, "Really?" He goes, "Yeah."
He goes, "I submitted the application but they won't return my phone calls, and I'm getting really frustrated," and I don't want to say anything about, I've heard things about this area, right?
Stacey C. (00:26:33):
So I said, well, if I can come up with anything I'll help you out. And so I got off the phone with him and I called the city of San Anselmo, and this girl answered the phone. So I said, "Hey, can you get me some information on this property?
A permit was applied for and, in the last whatever," and she goes, "Oh yeah. There was a permit applied, 11/29. Gosh, we're missing a bunch of stuff like that, so it wouldn't have even passed, plus it needs payment," and I said, "Oh, okay. Can I give him your name?" And she goes, "How about if I email him and tell him what he's missing?"
Ryan Zomorodi (00:27:07):
Stacey C. (00:27:07):
So anyway, she goes, "He doesn't even have a breakdown of costs." So in five minutes, I was able to send him a ton of information on the city of San Anselmo, just today, after getting off the call with him. So...
Ryan Zomorodi (00:27:20):
Stacey C. (00:27:24):
Yeah, that was fun because I just wanted to help him out. The other thing about this property, the more that you look at the rehabbed ARVs, you see the amenities that homeowners are looking for and it shows up in how quickly the houses sell.
And so I was encouraging him to do certain things like here's where you should spend your money and here's where you, and you can find places to pull back or whatever, and I don't think he's going to do it. There's a area that needs to be just popped out and would require a new exterior wall, but it would change the game on that living space. And then there's just certain things in the house, and I don't know if he's going to do it.
I hope he does, but I am confident after spending so much time running the comps that he could get the highest return, he could get the highest ARV. The other thing I learned on this property was that two million and above is high end here. Anything under two million is middle of the range. And so I don't need to be looking at top of the line clients costs when I'm averaging my price my repairs and stuff.
Ryan Zomorodi (00:28:45):
Stacey C. (00:28:45):
I can look at the middle ranges and see, and then maybe even see certain brands that people expect to see, but not necessarily high high end. So I thought that that was a really fascinating kind of... Even last night on my REIA's call when she said, "In Healdsberg, 1.4 million is not expensive at all.
It's not at all." And so it kind of gives you that little perspective shift on how to think and who's, and how to look at what the house, what you actually need to do to the house. So...
Ryan Zomorodi (00:29:22):
Stacey C. (00:29:23):
Yeah. So all I can say is how equipped I felt, how confident I felt. I had done all of my legwork. I had cultivated a cash buyer list. I just added a new one last night that I want to call in too, that I need to call and qualify for my RIA last night. Oh, people were asking me where I got my cash buyers and I need to say that it's been strongly RIA and, or the meetups.
That's mostly what I have up here, and then the ninja thing surprised the heck out of me. I mean, I had two solid guys of maybe a half a dozen that I felt were legit. One guy, I kind of got the vibe that he might have been a Wholesaler trying to get information out of me when I was calling. And so I just let that one go, but I had, I got too solid, including the ones that bought my San Anselmo house off of the ninja thing. Yeah.
Ryan Zomorodi (00:30:24):
Excellent. Yeah, with that trick, we call it the ninja trick, you'll get a lot of options. You'll get a lot of potential buyers, but then you obviously have to vet them.
So you get a higher volume, but the quality isn't always necessarily there. But then with the RIA's you'll usually get less volume, but higher quality.
Stacey C. (00:30:43):
Ryan Zomorodi (00:30:43):
And you get the face to face interaction. You get to shake hands if you feel comfortable doing that these days.
Stacey C. (00:30:49):
Ryan Zomorodi (00:30:50):
But, so with... But yeah, with the ninja trick you'll get a lot more. So it's cool that you found your buyer using that strategy.
Stacey C. (00:30:57):
Ryan Zomorodi (00:30:57):
Stacey C. (00:30:58):
The one that bought this house, I had taken note he had a guy that was in-taking and he said, "Well we're doing, we're in the middle of nine projects right now," and I said, "Okay. Well next time you hear from me I'm going to have a deal for you."
So I kind of primed him and said, "Look, I have a deal for you, and it looks like I'm going into first." And I said, "So here's what it looks like, and I said, "Would you be willing to pass this on to your, to the founder who decides?"
And what I heard the next day, the owner of the company called me. It's like I got through the gatekeeper, but the next day I got called by the owner, and he said that his guy was kind of holding onto it because it was a Wholesaler who showed up with it. He goes, "No, send me everything."
Stacey C. (00:31:48):
And so it was really, I was, I kind of got that personality of what they're dealing with too because he's got his own team that are scouting for properties as well. So I'm like, "Well I just want to be this person that's bringing you great deals."
Now for this next, for my next deal, they're kind of maxed out. He's got a dozen properties right now that they own. Five are in the middle of rehab and seven are waiting to be, so they're on hold. But, I still said I'm still going to send you the deals because you might be able to pull something out of your head if it's a good deal and you want it, and he said yeah. He wouldn't turn down looking at things. But I hope, I mean I'm hoping that whatever is in my gut that got me into this first project, the decisions I made, the directions I took with it, the way I thought about it.
I'm hoping that that adds value and gets me into my next deal. It's just that hoping that wasn't just an Easter egg. It was a perfect timing and all that, but it seems like every meal, every... It's a start over. I was telling Alex the other day, "I just want to get two to three, or at least I have two to three offers in at the same time, where they can be clicking at different times and stuff like that," and I haven't really hit that momentum yet.
I actually was called away on family business, or there's some family stuff going on. So I had to take a couple weeks and deal with that. So I did lose my, I was on momentum, and then so...
Ryan Zomorodi (00:33:38):
Yeah. Hey, it happens, and that's kind of the beauty of real estate and being an entrepreneur, is a lot of times you can take that time off when you need to when things happen, emergencies happen, family matters, you want to take a vacation, things like that.
This is the type of business where you can step away for a bit and you might lose a little bit of momentum, but it might be worth if you have other priorities and you have, everyone has things going on in their lives.
Stacey C. (00:34:04):
Ryan Zomorodi (00:34:04):
So, but the cool thing is you still have all of that there. You still have the experience, the relationships you built, and so you can just pop back in and start, pick up right where you left off.
Stacey C. (00:34:14):
Ryan Zomorodi (00:34:15):
And speaking of offers, you can certainly, within reach, to have multiple in the works. That's certainly what we prescribe.
Stacey C. (00:34:24):
Ryan Zomorodi (00:34:24):
And with the right CRM, you can manage all of those and work those offers through the entire pipeline.
Stacey C. (00:34:30):
Ryan Zomorodi (00:34:30):
Just curious, how many offers did it take you and how many did you submit before landing this first deal if you can recall?
Stacey C. (00:34:36):
Yeah. Well, it's kind of embarrassing because I know people are doing one a day, but I think maybe half a dozen is all, because I had to feel confident even submitting the offers. I feel like there's a little bit of synchronicity that happens when you're out there.
I, as hard as it is working in my area, I just want to say it is challenging, I just have to keep moving, being, having boots... My literal boots on the ground out there is really what gives me the feel for what I'm doing. And so, "Oh, this one's right around the corner from here. Maybe I'll drive over there," it just kind of, there was a little bit of synchronicity that had to happen. But I had to get everything, have myself in motion.
And so it was really just a half a dozen that I had submitted. One of them is kind of still holding out there. They want too high for the amount of repairs on their, their home, and they, and I actually wanted to let them know I was respectfully submitting this offer.
Stacey C. (00:35:45):
I actually put a letter in with it because I knew it was low. They declined it, but I just, I have them, the agent had conveyed if you don't get what you want, just circle back and I'm happy to reevaluate. So I've had a couple of those conversations as well.
I'm really hoping between now and June I can get my momentum going where I've got several offers in at the same time, this one's closing, this one's coming up. That's the momentum I want to be in because I need to support the reason I'm doing this. Initially it was, I'm really intrigued by the buy and hold, the short term rental.
There's a, just everybody, there's a website called AirDNA that aggregates all of the Airbnb information. My older son is very interested in also getting into short term rentals, and so that I'm very close to my kids having raised them by myself. And so there's kind of a motivation to kind of get something going with the family.
Ryan Zomorodi (00:36:51):
Stacey C. (00:36:52):
And anyway, I do love these boutique level short term rentals where it's not the lowest but it's not the highest, and where they can really be unique experiences that you're creating. This is where I can bring in all of my creative art, all that kind of experience that I have, so that when people walk through the door of the short term rental they're transported to the story of that place. And so I have to figure that out.
But the other thing I've noticed is how inve... I know a lot of people have their own ideas, but I just feel like I can kind of see what a house needs. So I'm very anxious to have the capital to get on my own fix and flip because you can really see and feel what the house wants and what the neighborhood needs, and even as a homeowner I was very respectful of whatever house I was living in. What does the house need?
It doesn't... Because there's certain things people do to their homes that have nothing to do with the neighborhood or the home they're living in, right?
Ryan Zomorodi (00:38:01):
Stacey C. (00:38:03):
Anyway, I just, and I can also really get excited about what the buyers in the area are valuing based on what they're throwing down for these homes. So that's why I mentioned before, I mentioned artisan numbers on your house. For some reason, up in Healdsburg, that's a big thing. And I'm like, "That's a cool way to express yourself."
You know what else is kind of, it's probably happening nationwide but I noticed a lot in Sonoma, is the color pop on the door, where you've got the gray house with the white trim but you've got an orange door or you've got a yellow door or something like that.
Stacey C. (00:38:41):
And that was happening even on some of the higher end homes that I thought was, it's not just a red door that people used to do. It's like I saw, in Sonoma, I saw this bright orange door with an orange mailbox.
I'm like, "You go for it." You got your cute little... But there's just certain things that you kind of take note of in a neighborhood, and I don't know. I just, I'm, now my brain is like, "How do I fast track this?" Because I know I need to build capital, period, full stop. So...
Ryan Zomorodi (00:39:11):
Yeah, and I can definitely see that you have that artistic capability that a lot of people either will hire out, they'll hire a designer, someone to help with those aspects of it.
Stacey C. (00:39:22):
Ryan Zomorodi (00:39:22):
But it sounds like that's really what you want to lean into.
Stacey C. (00:39:24):
Ryan Zomorodi (00:39:24):
And there's a very big need, in the investment space, the redevelopment space, for that talent. So I'm excited to see as you evolve, we call it the evolution of a real estate investor where you'll start Wholesaling gets you in the game.
You start building your network and making offers, really evaluating properties with different exit strategies in mind, whether you're the fix and flipper or as a rental property, buy and hold, and then from there you can build that capital.
You really lay the foundation and then evolve into either fixing and flipping properties, taking it down yourself, and then eventually holding it long term.
Ryan Zomorodi (00:40:03):
For either long-term rental, short-term rental, development, whatever that might be. So these connections you're building, these buyers that you're working with, they may as well become private money lenders for you someday or partners, joint venture partners, to actually take these down, to rehab them and either own them long term or fix and flip them.
So this is the foundation you're setting through the res you're attending, the network you're building, these conversations you're having. Even with these investors who might not even be buying the first deal.
They still know that you're out there and making things happen. So you're building that reputation for yourself and you're building that path that will allow you to spread your wings and really go in many different directions, really any direction that you want to.
Stacey C. (00:40:59):
Yeah. When I lived in Washington state, I moved here during COVID. By the way, I have to say that everybody knows me for the food industry. I mean, everybody. And so I had a friend, one of my colleagues, she texted me last night.
She goes, "Hey, Stacey, how you doing? I got a connection request saying that you're in real estate now. What's up with that?" I started laughing because I haven't really put myself out on this social media, but I did experiment with another Instagram, but it puts me with one, two, it puts me with like three Instagrams.
Anyway, I don't know. I need to hire out any professional marketing, Instagram stuff. I love my personal, but I don't love growing it the way you have to do it for business.
Stacey C. (00:41:55):
Anyway, it's kind of a, "You're doing what? Okay, cool." Because I'm not telling everybody, but it is interesting. I don't know what to do with my LinkedIn profile right now. I was going to wait till I had two or three deals under my belt and then just go splash down.
This is my new company, you know? Because it's just been such an evolution for me being initially in real estate, then as an art dealer, then in the food industry as a buyer, consultant, whatever. And so my whole arc, it's so unique.
I'm not a corporate ladder climber. I don't like waiting around to be hired by corporate people, and I've taken the riskier route.
Stacey C. (00:42:44):
I was talking to one of the people who closed some deals just to pick her brain, people, they want to know what you're doing. And she goes, "Sometimes during the course of this, I'm lying on the floor crying," because it hits every last thing when you're trying so hard and you hit a wall and you know something's got to give. And she goes, "Then you just go get a cup of tea and just chill out.
You can't attract anything good that day anyway." And it kind of gave me some perspective about how to really build this. But my ultimate goal is multiple revenue streams and passive. That's my ultimate. That's what I want in the next two years, I want passive income coming in. So everything that I do, that's why I want to have a portfolio of short-term rentals.
I want those to be managed by a super reputable management firm, whatever that looks like, I have to grow into that. Right?
Stacey C. (00:43:48):
And then there's also these cash flowing businesses that I'm studying. And so everything I'm doing now is to support the dream that I have of investing in cash flow and things. I'm even wondering if there's cash flowing Airbnbs for sale that you could up level, and then you don't have to go through the whole bottoms up kind of experience.
But if I could figure out a way to fast track all that I would. Anyway, it's interesting starting over at my age too, my kids are so grown and I'm of a certain age, and it's just so fascinating to be starting over yet again, you know?
Ryan Zomorodi (00:44:30):
Oh yeah. I mean, real estate is a place where many people of all walks of life come and they can reinvent themselves and start a new career and really make something significant of themselves that they can pass down to their kids and leave a legacy, which is why a lot of people get into the business.
Whereas if you're working a job, working up the corporate ladder, you might be putting all your time and effort and energy into working a job building this other company, and then at the end of several decades you might not have a lot to show for it.
You might have some retirement savings shoveled away, but with real estate you can really reinvest back into building a portfolio. Through your network you can acquire more deals and get into bigger projects. And then ultimately you can make a living, but then you'll have these assets that can actually support an abundant retirement.
Ryan Zomorodi (00:45:28):
And so I think that's what a lot of people who get into the space are really looking to do. So that's really great to hear. Leveraging the skills that you're working on now, and I love to hear that you're so studious and you are going above and beyond really even the curriculum that we provide.
Extending more value to your financial partners than you absolutely have to. You didn't have to make that call to the permitting office and get that information and help streamline that project, but you're the kind of person that goes above and beyond. So I really respect that about you, Stacey.
Stacey C. (00:46:04):
That was my property management self coming into play. I'm like, come on, let's get this done. No, they can't not answer their phones, you know? Yeah. Thank you for reflecting this back to me because I work at home. I have dogs around me.
Unless I'm out in the field I'm not seeing people, and it gets pretty soupy in here. So it's really hard to maintain that structured time block. Like yesterday I had to set timer on myself when I was running comps, because you could go waste so much time overthinking the comps, you know? And having your guys' voices in my head about when to walk away or there's nothing to comp here.
There's no comps. Knowing what to do with the time, but I just had to set the timer and I'm like, this is all I'm allowing myself to do this. I'll push into it, and if I have to extend it 20 minutes, I will, but it's really lots of pros and cons about working alone all day, but ultimately it's kind of what's happening.
Ryan Zomorodi (00:47:22):
Yeah. I think a lot of people have experienced that, the whole work from home. It's new for a lot of people. I've been doing it for quite a long time, when you're in business for yourself, you just kind of have to have that schedule, you have to tell yourself what to do and be your biggest critic a lot of the times.
Just being your own boss, it doesn't work out for a lot of people. So it's cool that you're finding structure and you're finding ways to stay on top of things and manage your time effectively and prioritize.
Stacey C. (00:47:58):
Yeah. Well, and this is definitely, I know as long as we're living, breathing, I want to grow into this next version of myself that is managing all this stuff that I can see, you know what I mean? And so, yeah, there's a level of kind of complacency that happens.
I think the last couple years of being in the food biz, which was 2019, and then COVID happened in 2020, I think that really sealed it for me as far as I knew I was rumbling for a change, but I thought it was within my industry. You amass a lot of knowledge and you don't want to just walk away from all that experience.
And how can I apply that experience to serve the industry on a deeper level? But I wasn't seeing the ROI. I was not seeing the return.
Stacey C. (00:48:54):
And then what I had to realize is that I'm not necessarily a salesperson. I am a project driven person. And so you do this, this happens, this is the result. It helped me really get clear, in the food space I could be working a key account position which is basically driving, opening up key accounts. And there's a lot of tactical stuff that goes into that.
But you could sit for nine months and do everything right, and show up every day, and still there's people holding up the process somewhere. I can't give the KPI. I can't give the deliverable back to the guys that hired me to do the thing, you know? And anyway, they understand because they're in the same business too.
Stacey C. (00:49:53):
Anyway, it was very clarifying to kind of let myself struggle with needing a change. And I do feel coming back into this real estate world is a full circle for me. It's kind of what I started with. Wish I had whatever it took to do it back then. I'd probably be much farther along. But it is what it is.
I went off on some creative directions and raised my kids and all of that stuff. I'm considering whether I should get my license, just because it helps me cut through the stuff. I don't know. It's been recommended that I do by certain people.
But anyway, I don't want to pile on unnecessarily unless I can totally see why. Why the value of it. Because do know that we can do this. We can get our real estate agent allies and do this gig without the expense and time to get the real estate license. Right?
Ryan Zomorodi (00:51:07):
Stacey C. (00:51:08):
I guess it depends on what this actually turns into. Because you can start out in this direction and take a, you know. I was going to ask you, besides honing in and perfecting the craft and continuing to get better and better, I would just ask you what you recommend for me based on listening to me. Besides do an offer every day, I know that, I know, I got to get to that, but it's just so problematic getting these properties evaluated, so.
Ryan Zomorodi (00:51:43):
Yeah, I think just hearing you today, Stacey, you are looking for those revenue streams, you're looking to build that portfolio. And I think when you're looking at these opportunities, continue to look at different exit strategies. You said you're looking for kind of like a turnkey Airbnb opportunity. They're out there, they're certainly out there.
And a lot of times the best deals you're going to get are those distressed properties. Because when you look on the market and you see something that's already been rehabbed and they're marketing it as a current Airbnb, that's how they're getting the premium.
So when we're able to find these opportunities like the ones you're identifying and finding for your financial partners right now, those are the same opportunities that can be good for you and your Airbnb portfolio.
Ryan Zomorodi (00:52:38):
So it's just a matter of analyzing it a little bit differently, understanding what financing that you have access to, whether it's private money, like we talked about earlier with some of your financial partners. They might want to partner with you.
Whether it's as an equity partner where you both are actually owners or as a debt partner where you're just borrowing the money and then paying them a set interest rate. So there's different ways to structure it. But I'm sure that some of the people you've been talking to would have similar goals that they would love to own those types of assets.
So if you can align the financing part, make sure that you have the space to either start to manage it...
Ryan Zomorodi (00:53:24):
I think it's important when it comes to holding real estate, understanding what it takes to manage it. I don't think any of our goals is to be the property manager. It's really to be the owner and the asset manager where we're managing the managers, essentially.
But I do think it's important to take some time to understand what it takes to be a good manager so that you can delegate effectively, and just really see what it looks like in terms of numbers wise. Start talking to other owners of those types of properties.
And then when you do underwrite a property that looks good, that looks like a good acquisition, then you'll have all your ducks in a row and then you can take it down and ultimately start building that portfolio piece by piece.
Ryan Zomorodi (00:54:10):
That will ultimately build that momentum and you can snowball off of that first property. And at the same time, because the beauty of the MLS offer system is that we're working the same process, but the exit strategy can be different.
You might be wholesaling it to three different buyers who have three different exit strategies, or you might be acquiring it for yourself and your own portfolio, and you might be willing to pay a different price depending on what you plan on doing with it. It might be worth a lot more to you because you're going to operate it as a short-term rental.
So I think just getting clear on where you want to take it the next six to 12 months. Ultimately making sure you have the space or the right team in place to handle those acquisitions once you take them down will ultimately give you the confidence to acquire these properties and then start to operate it. Then you can start working those artistic design capabilities and really deck it out and start to build your reputation in that space as well.
Stacey C. (00:55:22):
Yeah. You know, speaking of that, the thing that's exciting about that is that I was refocusing my knowledge to the hospitality industry and boutique hospitality specifically. And that's a very specific experience.
They plot down in a local area, they call from the area they're giving, they're giving the guest the experience of the local area by the amenities they're using or the recommendations or even the atmosphere and all of that. And some of the day trips that they offer. And there's a lot of eco travel going on these days as well.
So I was just really inspired by that. They're having a labor crisis in that industry, so nobody wants to talk about eco sourcing with me because they're trying to solve their labor issues. And again, I don't want to sit around and wait for that.
Stacey C. (00:56:19):
I'm still available to it. My program's still out there. I was thinking, well, this would be a way to really get that desire, that vision that I have moving forward to have my own little hospitality group in short term rentals. Right? So I guess at this point, it's like there's an inundation of teachers, experts and all that. It's hard to know who.
Who to sit and give my time to, right? As far as how to start prepping for that level. But I'm still dealing with what everybody's dealing with as far as getting the ARV set, getting the repair costs, where they should be treating it, is this a good deal? Would I do this deal, right?
Stacey C. (00:57:21):
Finding the ROI in a deal for a buyer, I think that it will take six to nine... Well, hopefully the next, well, let's just say six to nine months, just to get really good at that, and to know how to write up a good deal and to keep learning peripherally about funding and just all that's involved.
Because I still have to show up with my own cash. Some level of cash to make anything on the back end. Otherwise you're just paying everybody back and you're walking away from a project. Right? So I was wondering if you guys are going to start holding in person events or meetings where you're inviting people to fly in from wherever and let's meet everybody. Or if you will be holding any other kind of higher education models.
I can't think of anything specifically, but it would be great if Alex or Ryan gave a... I would like to hear a talk on this, on this topic, because I know that a lot of people are peeling away pretty early and going towards off market and going towards hedge funds and all of that.
Stacey C. (00:58:43):
Some of that's still a little bit over my head, because even here, the off market properties, they still have listing agents attached to them.
I may get something before it goes on the MLS that gives me a little head start, but the seller is still going to wait to see what best offer's going to come in for more competition or whatever. So I haven't really met a truly off market offer yet.
Ryan Zomorodi (00:59:08):
Yeah. Yeah. Most of the properties that do sell are listed on MLS or there's an agent attached to it. Most sellers know that they're going to get the most exposure and they're going to find the best buyer through working with an agent. Which is why we love working with agents, because they get access to the most deals.
It's just the oldest method of acquiring real estate in the book, is talking to brokers, building relationships, and telling people what you do and telling everyone what you're looking for. Because the word gets out, just the organic word of mouth marketing.
It works and it doesn't cost anything for the most part. You have to spend some time and hustle, which everybody has. Regarding in person events, yeah, we would love to. We've definitely talked about it.
Ryan Zomorodi (01:00:03):
I think we work with students all across the country and so we'd have to really, kind of figure out the logistics behind it.
But yeah, we definitely have talked about more of like a mastermind where we can go more in depth and spend in-person time and have a multiple day sort of event like that. So that's definitely in the coming future. We'd definitely love to have more face to face with everyone in the community, bring people together. But I think a lot of people have really leaned into the virtual environments that we've created.
We're doing a lot with our community online with the Skool group.
Stacey C. (01:00:40):
Ryan Zomorodi (01:00:41):
And trying to make improvements there and building that culture. So I appreciate all your contributions, all the questions that you have in the group, it helps. Like yourself, other people are tracking those conversations and they're reading it, they're learning.
And so I do everything in my power to go as deep as possible with their students in that group, because I know it's getting a good amount of exposure. And so I appreciate you leveraging and collaborating and being a big part of the community.
So it certainly helps and posting your wins, from getting or sending your first offer or closing your deal and everything in between, that inspires everyone else. And it's definitely noticed and appreciated. So...
Stacey C. (01:01:29):
I'm glad. I'm super glad. I'm happy to support. I just feel like I'm with everybody there, it's still do the work, do the work, do the work. It's still a new day every day. I did happen to get that deal going and I'm really grateful to have that one under my belt.
And I'm one of these people that I also threw all into this. So it's like, I don't have... I didn't create any back doors for myself here, you know? I let my other business. I parted with my last client earlier this year and it was just, our contract kind of ended.
They were taking a new direction. So I really made sure everything was clean and cleaned up and parted with. And so anyway, I think that's why I feel so driven.
Stacey C. (01:02:28):
I haven't, I mean... I have been open to other work or part-time jobs or whatever, or even another professional position, but they don't open up to me. It's weird. I will... All those aren't flowing towards to me.
Do you know what I mean? And again, I'm not going to sit around and wait for it and think, "Oh, that's what I should be doing," you know? Somehow, I'm just going to make this work where I'm building this capital. I have low overhead, at least for the next year, in my living situation. And then just build the capital.
Stacey C. (01:03:06):
So I'm very determined. And I just... Again, I know, I hate to gush, but I'm just so thankful for you guys because there's a level of professionalism that you guys have that we're so inundated by experts and social media and all these loud people, these loud dudes.
It's like this bro fest, you know? And I just can't... I can't do it. I can't do that. So I would like to get some more ladies featured in the Real Estate Skills. Because we don't really want sports cars and airplanes, you know? We want other things, so...
Ryan Zomorodi (01:03:51):
Stacey C. (01:03:51):
You know what I mean? It's like...
Ryan Zomorodi (01:03:54):
Absolutely. Yeah. I mean, we have a lot of successful ladies in the community. It's amazing, you know?
Stacey C. (01:03:58):
Ryan Zomorodi (01:03:59):
So I'm really proud of you all and it's just such a joy, just to have quite a bit of diversity in our community. And to be able to help people all across the country from different walks of life and so...
Stacey C. (01:04:17):
Ryan Zomorodi (01:04:17):
Well, awesome. Well, just to kind of start to wrap things up here, first deal, 20,000. A million dollar plus deal. You mentioned kind of what's next for Stacey, looking at short-term rentals, building a portfolio and ramping up in the next several months.
So getting to a place where you're confident in making that next step into the fixing and flipping and into the buying and holding as well, getting into business with your son, working with your family closer.
Ryan Zomorodi (01:04:55):
So in terms of, if someone's looking kind of looking at getting into real estate and following a similar path as yourself and is looking at joining us in the Pro Wholesaler Program.
I mean, do you have any words of wisdom and any words of advice having crossed that big milestone of closing your first deal and coming this far? What would you sort of say to someone who's looking at making that journey?
Stacey C. (01:05:24):
Mm-hmm (affirmative). I would say, and I just need to find the right words, so... What's coming to mind is just commit, commit to the process is so important.
There's going to be a lot of negative stuff that comes up even in our own minds. And there's just got to be this thing to just keep you going.
Stacey C. (01:05:48):
I was bummed when you said that a lot of people don't even get to their first deal. I was wondering what the attrition rate was, but I'm just saying it has to happen. It just... Have that mindset that this will happen, it has to happen.
I know a lot of that is really cheerleading the self, but the other thing really, is just trusting the program. Like, trust Alex's years of experience, trust all of the input that you've added, the value you've added.
I don't know how long you guys have been working together, but you're very simpatico as far as how you show up.
Stacey C. (01:06:25):
And just, I would just say, don't give yourself an exit strategy. I don't know. I just want to say do it, even if you're working part-time and you're just... or full-time already, just have... Just stay on it. Just to stay on it because that... I don't know.
I could go on and on, but there's a thread there, which is really, stay focused. And I guess what drives me is my bigger vision. And so I was really glad that the program started with that. What is the bigger vision? And it has to be big enough to keep you going when you're scared and you want to roll up in a ball and oh Lord. So, I don't know.
Stacey C. (01:07:06):
I hope that helps, but there's so many detractors out there and there's so many experts that are going to pull you this way and that way. And I'm just going through the tunnel of the program right now. And that's all that I'm focused on. And so otherwise, it's like shiny objects everywhere.
So, I guess, trust the expertise that's built into the Real Estate Skills. I hate to sound like a commercial, but you guys have so impressed me and it takes a lot. I've been on the online stuff for a long time, so, you know.
Ryan Zomorodi (01:07:45):
Yeah. No, we appreciate it, Stacey. And a couple things you mentioned, go all in. If you have a lack of commitment or if you're not ready to really fully commit to something, then real estate investing, this program is probably not going to work out because people make excuses and it's natural.
It's our tendency to go the easy route, right? To go the path of least resistance and not to lean into something, even though it can be an enormous opportunity.
Ryan Zomorodi (01:08:16):
And really, just have that strong why. Have a reason why you're doing this, why you're willing to make sacrifices and spend the right time building those real estate skills and knowing that these skills are going to be something that we can grow into for years to come and to really take it as big as we want to.
You know, the sky's the limit when it comes to what we can do in this industry. And it's something that, we're not having to wait around for someone to hire us, like you mentioned earlier. It takes a certain kind of personality to be a little crazy enough to want to just go out and do something on your own and make it happen.
But the people who do, can experience those rewards. So...
Stacey C. (01:08:57):
Yeah, it comes with it's pros and cons. Because there was a professional position that I thought I'd really get, and I didn't.
And I went, "Wow, I guess that door's closing," you know? So I can't sit around and I just don't have the luxury of sitting around and feeling sorry or whatever it is. And I'm not belaboring that because everybody's in their own process.
Stacey C. (01:09:25):
But you guys... There's another thing I wanted to add, is that, every time I drop into that Skool, I'm kind of holding you guys accountable to who you say you are. And you've always shown up to be authentically who you say you are, really. And that is also something that I just have come to really rely on as well.
Do you know what I mean by that? Like, every time I ask a question or I show up or they've got this, and I'm going to utilize this tool because this is part of the program and you guys just... You guys show up. And it's just that... It's that part of really, in my mind, holding you guys accountable to this whole thing you've created too.
How do I fit in? How do I utilize this? How do I get what I need out of this in order to do what it's teaching me to do? So that's how I'm looking at it.
Ryan Zomorodi (01:10:28):
Yeah. No, I absolutely do know what you mean. And like I said, it creates our culture. We wouldn't be very helpful if no one was asking questions and everyone was kind of on the path and keeping their head down and just working away.
So, I mean, I think it really helps us understand where your head's at, what support is needed, what are the questions that we haven't addressed in the program? And so that is really what our community is there for.
Ryan Zomorodi (01:10:58):
And so it's the members like yourself that are leveraging it and making it even more valuable for anyone else who comes in, because there's these very specific questions or there's these things that.
You'll ask a question, all of response, and then that happens like 10 times. And so we really get a lot of information out there and extracted.
Stacey C. (01:11:18):
Ryan Zomorodi (01:11:18):
And so that builds on itself. And so anyone coming in gets access to that. And this is just a backlog of all of these queries and information that gets exchanged, which is why we have everything facilitated on that platform.
And so yeah, we really appreciate it. Because one of our company values is education. And so it's just...
Ryan Zomorodi (01:11:42):
It's knowledge that we're all providing access to and it's a collaboration, it's the community. And so we all lift each other up. There's more deals out there than we can all individually handle. So it's really that teamwork environment that we're continuously working on to create. So...
Stacey C. (01:12:02):
Yeah, it's good vibes all around. I dig it. I'm so impressed. And yeah, I am personally very impressed and it's very energizing. And I always feel like I have a team here that supports me.
It's a very solid. I have my finance partners out here that I'm pushing into, but I've also got this team that supports kind of the structure or it's my... I feel like you guys are my team, even the fellow members too.
Stacey C. (01:12:33):
I have a file on my desktop just with screenshots of some of your answers or Alex's answers or some of the questions or conversations I've followed. Because yeah, those are always really helpful and everybody's got different kind of areas they're dealing with.
And it just feels like there are threads that we're all going to be dealing with at one point or another. So I'm... Yeah, I'm happy to be available if I can.
Stacey C. (01:13:05):
But again, even though I've closed the first deal, I'm still in the same boat as everybody who's utilizing this to build, kind of that next level for themselves.
It seems like every deal has... You can layer your knowledge, but every deal has its own unique situation and confusing and muddle and you just have to keep doing it. So anyway, thanks.
Ryan Zomorodi (01:13:34):
Yeah, absolutely. That's what we're here for. And we're not planning on really doing anything else other than real estate for the foreseeable future. It's definitely our passion and something that we work on personally and with our businesses.
And so it's just... It's a collaborative environment. All of these things are relevant to everyone who's entering the space. And so it's great that we have this data there.
Ryan Zomorodi (01:14:03):
And I love to hear that you're taking note of those gems that you're seeing within the group. I mean, that's a trait that's ultimately going to help you be successful in this business. Is really taking these things and really drilling them down and studying them, which is really something I admire.
So, no doubt you'll be able to achieve your goals no matter what you set for yourself. And I do very much look forward to being a part of that as you continue your journey going into this next phase, ramping up your deal flow, your offer flow. And then working these other.
Stacey C. (01:14:40):
Because they're stuck with me, you know? Yeah, I think it's... There's some really beauty that I was able to get that first deal going that I really put... Do you know, one of the lending guys out here says, "What are you," he asked me, "What are you charging for your Wholesale deal?"
I go, "Well, the national average is 10,000. So I was thinking of starting with that." He goes, "We're not the national average here, you know?" And he said, "Make sure that your minimum..."
Stacey C. (01:15:06):
He's telling me, "Charge me more. Charge me more," you know? And so he said to make my minimum 15. So, I've already established a $20,000 fee with these other guys. So that's what I'm going to do as much as I can. And then I'm always willing to negotiate pop off, but I don't know. Anyway.
Yeah, I think that, that... It just gave me kind of some working capital, some working stuff and some leverage, even with people that I'm dealing with and stuff, and people that I'm calling back or circling back to or whatever. So yeah, it's all happening.
Stacey C. (01:15:51):
And I love this area. I really want to make it work in my area and then see where that takes me. And I'm really, even though I live in Marin County, I'd probably like to have my first Airbnb in this little town called Larkspur, which has a... it's got access to the ferry into the city.
But there's lots of cutie little properties in there, townhouses and stuff. And anyway. But yeah, I want to keep my focus because everybody's so turned off by the area because of how crazy the market is. But I just can't listen to that or else I would just go in a corner and suck my thumb. It's like, "Well, what am I doing then?" Anyway, sorry.
Ryan Zomorodi (01:16:45):
Hey, that... I mean, I really respect that because you're leaning into what you know to be true. Is that there are opportunities there and you're able to harness them. And so if you're hearing these naysayers, you're proving them wrong.
And so that's ultimately weeding out other people from entering your market, is because they hear these things. Kind of like, we started off this conversation with expensive market, saturated, no deals. However, you're finding these deals and you're able to connect them with the right buyers and so...
Ryan Zomorodi (01:17:24):
And I think the ratio of offers to deals with yourself is quite impressive. And I think I wanted to touch on that real quick before we wrap up, is I think your quality of offers are very high, is you're taking the time.
You're really spending the amount of research and having these in-depth conversations with the agents and really taking a lot of care with the whole process. And so I think that also has contributed to the-
Stacey C. (01:17:55):
Ryan Zomorodi (01:17:55):
The ratio from offers to deals, so a lot... With other people they say, "Yeah, I'm sending two offers, four offers a day," but they're not really following all the steps.
They're not taking the right care. They're not really following up on these deals, getting into that backup offer position. So you're doing a lot of the things that ultimately makes that offer a lot stronger and has a much higher likelihood of getting accepted.
Ryan Zomorodi (01:18:23):
So, it's one thing to say you're going to set this offer goal, but it's another to actually do what's required with every offer to get that accepted. So, I think I would keep that up with a $20,000 minimum fee, five deals you have a six figure business. So...
Stacey C. (01:18:44):
Dude, I know. That's what I got in my... Like, come on.
Ryan Zomorodi (01:18:48):
Oh yeah. No doubt, you'll get there, Stacey. And I'm just super excited for you. And again, you closing that first deal just filled my heart with joy and just made me so happy and-
Stacey C. (01:18:59):
Ryan Zomorodi (01:19:01):
Yeah, just through our interactions in the community, on the Q&A calls, we've looked at deals together in your market and looked at a lot of unique properties and so-
Stacey C. (01:19:10):
There will be more. I'm telling you, all this stuff going.
Ryan Zomorodi (01:19:13):
Yeah. Bring it on, bring it on.
Stacey C. (01:19:15):
Yeah, Yeah. Thank you. And I'm so happy that we know each other a little better now too. And it's been really fun to talk with you.
Ryan Zomorodi (01:19:23):
Yeah, likewise, Stacey. Yeah. It's been a really great conversation. And so, yeah, I really appreciate your time today.
I look forward to seeing you on the upcoming Q&A call and hanging out in the community. So again, really appreciate you and really excited for what's in store for you.
Stacey C. (01:19:40):
Thanks. Likewise. Thank you so much. Okay.
Ryan Zomorodi (01:19:43):
Yep. See you, Stacey.
Stacey C. (01:19:45):
Or on the calls or whatever.
Ryan Zomorodi (01:19:47):
Yep. We'll chat soon. All right.
Stacey C. (01:19:49):
Okay. Thanks, Ryan.
Ryan Zomorodi (01:19:50):
Take care, Stacey.
Stacey C. (01:19:51):
Bye. Okay. Bye. Mm-hmm.
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