The Real Reason Sellers Pick Creative Finance

Añadido: 2026-05-25

[00:00:00]Seller calls are really cool. I've made tens of thousands of them. So, I don't I'm I have zero nerves that pop up with this. And people It's like a parlor trick. People want me to do this parlor trick all the time. Like, make the seller call. But the seller call is less important than understanding all of this. I want you guys to understand this. This is actually far more important. Okay.

[00:00:20]So, what are the reasons why we buy real estate? First one is cash flow, right?

[00:00:24]Second one is appreciation. We want this thing to appreciate over time.

[00:00:28]Three, we want the tax benefits.

[00:00:31]Depreciation. Taxes suck. Depreciation, right? Tax benefits. This is how rich people don't pay taxes is through depreciation.

[00:00:39]Um, number four is pay down. What does that mean? Even if the property doesn't cash flow, my tenants are paying the paying me and I'm paying my mortgage.

[00:00:49]And over time, that mortgage gets paid down, which then builds what we call our delta. Our delta is let's say we what's the purchase price of the park? 500 for the entire park. Okay, that's pretty simple. Okay, so 500,000 for the whole park. Over time, let's say in 15 years this thing will be worth $1 million.

[00:01:08]Okay, but also over time you won't owe 500. If you get if you get a mortgage on it or seller finance, you'll owe let's say 320, right? So that's pay down. Over time, this thing pays down and this delta between what it's worth and what you owe grows and grows and grows and grows and grows. Okay? And that gives you the ability to then go and play with leverage. Okay. So, what does leverage mean? Leverage means that I can go and take a cash out refinance out of this.

[00:01:36]Anybody in here ever want to lend me money? Okay, cool. So, if you ever loan me money, guess what I would do? I wouldn't just give you a lean on the property that I'm buying. I would also give you a double layer of security by crossc collateralizing you against this equity here to give you double safety.

[00:01:53]So, does that give me leverage to go raise more money? Okay. So if you don't keep these properties, guess what you lose? You lose the cash flow, the future appreciation, the tax benefits, the payown over time, and the leverage.

[00:02:06]But actually, the most important part of buying this and keeping this is what?

[00:02:11]It's none of those. The number one reason you should buy that park is for you to learn how to buy a park. The story that you tell yourself of, I can do this. I'm an RV park owner. I'm doing the thing changes my identity. That's a big deal. But an even bigger deal is when you start telling other people, I own a park. What will happen to you is a magnet. Private money lenders, partners, more deal flow. This deal is going to be a big magnet for you if you end up keeping this deal. Now, you have to start weighing this. I don't like this park because it's so small. I also don't enjoy the fact like there's been things in your life, sir, that I'm sure you worked really hard on that you're like, I shouldn't have worked so hard on that little stupid little thing, right? Every day. Yeah, me too. I'm I learned that stuff, too, where I anytime I say yes to something, I had to say no to everything else, right? So, are we okay saying yes to this for a season, let's say 3, 6, or 9 months, depending on how good you guys are at delegation and putting systems together? Or maybe you go, we're going to go buy three parks within 100 miles.

[00:03:21]We're then going to hire an employee to run all three parks and then we can disconnect and go do bigger things. If that's your game plan, then I would say buying this park is okay. If you're going to say, I want to buy this park and I want to move there, that's not going to happen. I already know that that's not a no. That's a no. You guys have a great life. You got thriving family. You don't have time for this shenanigans, right? But this is how people should be deciding these, right?

[00:03:44]where people go, "Tell me what I should do." Well, I'm walking you through the the decision tree right now. Is this helpful for other people?

[00:03:50]>> Yes.

[00:03:50]>> Same thing with businesses. I turn down businesses all the time where I'm like, "Yes, I could make money on it, but I've done a good job creating story around me that I have so many opportunities coming to me that I have the ability to say no to this deal that could be a deal of a lifetime for somebody else." I kind of feel like that is going to be you guys.

[00:04:12]You think bigger. You're a little bit more refined. You're elegant is probably the way I would describe you. You think very well of yourself, which I respect and I I I adore that about you guys.

[00:04:23]You're not going to go do what other lower mindset people will do. Well, they buy the park and literally move there.

[00:04:29]We have people in the community that will do this and it will ruin their marriage. It will ruin their relationship with at their church or their such and such or blah blah blah cuz they're like, "Well, I want to go move here. I'm so obsessed with this thing." That's not going to be you. We are in a community. We are not in a mentorship or a coaching program. Okay.

[00:04:46]We have thousands of mentors in this community. I'm just one of them. What I would do is I can take this deal. How far are you along with the seller? He's like, I'm ready to go. Or >> wants to talk to you.

[00:04:55]>> Oh, he wants to talk to me. Okay.

[00:04:57]>> He's waiting.

[00:04:57]>> Oh, right now? Should we call him right now? Yes.

[00:04:59]>> Okay, cool. Let's do it. Seller calls are really cool. I've made tens of thousands of them. So, I don't I'm have zero nerves that pop up with this. And people It's like a parlor trick. People want me to do this parlor trick all the time. Like make the seller call. But the seller call is less important than understanding all of this. I want you guys to understand this. This is actually far more important. Okay. Hey Joey, how you doing brother? This is Pace. P A C like Pace Pani sauce.

[00:05:24]>> Yes sir. You doing all right?

[00:05:25]>> I'm doing great man. Tell me about this RV park that you guys got.

[00:05:29]>> Okay. Yeah. So so we started back in in 2008 where me, my wife and kids started building everything whatnot. And uh you know back uh you know we started doing it because we were big in in uh in the youth sports programs here and everything else and we wanted to build an RV park for families.

[00:05:46]>> Oh that's cool.

[00:05:46]>> Because we seen so we seen so many people RVs here. It's for the oil field.

[00:05:51]You know in the oil field they just try to cram every place we could and everything else whatnot. And I said you know what if I want to do it you know we're going to do it for families and and try to make it for kids and everything else. So that's why we we started going by and everything else.

[00:06:02]And then so that was our goal. And uh we got done probably in the mid in in the end of the uh 2018 and 2019 as you we're were good. We're rolling everything else and then 20 and co hit and then uh we kind of man kind of heard it of it hurt us everything else kind of we lost everybody let had only like two people there and whatnot and we kind of slowly started coming back up and then man it's been it's been good ever since. You know it was it was still kind of slow and whatnot. and it got it got big and everything else. And now the this last year or so or whatever, it's just been people just coming in because oil fields been picking back up and different businesses with the solar panels, pipelines, and things like that. Uh you know, and and uh I'm just >> This is the Perian Basin, is that right?

[00:06:49]>> Yeah. Let me go. Uh so so anyway, so yeah, so man, so that the RV park's been been good. you know, we had it on there and we we stopped putting money into it uh because of the fact, you know, we were trying to get back up where we were before because we were going to put in awnings and everything else, whatnot, because that's the one of the biggest things that everybody will will pay more money for, you know, and uh and the way the way I ran my RV park is kind of like, you know, the reason I've kind of stayed full quite a bit is because I don't charge like I like I should, you know, I charge, you know, the bare minimum, but uh you know, we can go up and everything else, but uh I I kept it down is because I did the same thing in softball and everything else. There's a lot of families could afford things, whatnot, and I always wanted to have kids to come over and have always have a place to stay. And so that's how we run everything else. But >> I love it.

[00:07:37]>> Uh for the most part, man, uh we we we have a lot of people pay cash and that's the biggest thing is, you know, cuz we're not that we're not that big a park, you know, we got 26 spots on it and but man, just people just pay us through either cash or cash app, things like that. So we so we don't we don't have it where it goes through our our taxes and everything else because health purposes you know we try to do other things whatnot but it is it's getting where you know uh we also started uh our construction business where we do so remediation uh dirt construction everything else and then it's getting where you know we just have a hard time to try to keep up with it. We we had people here that that ran it for us and everything else and uh it's good too but you know just having the time to always you know have somebody come in and do it and now our our business is expanding and so we're trying to use you know we're trying to go either that direction and everything else and whatnot because we love the park you know uh the other good thing about this park is is the city of Thorntonville which is Monahan still and everything else they just uh I was going to buy the land okay so I was in place we we we almost had we had a contract and everything else with the previous owner of the land right next to me which is additional 4 acres and I was going to buy that and and extend my RV park and then my buddy is is a commissioner and everything else he said Joey let me buy it let me buy it you know let us buy it uh because we're going to build a park here and then we're going to build a community center uh right here and everything else so we have a big old park and everything else and so I I went against my judgment everything else and I I went ahead and left the city cuz I you know like I got to work with everybody and whatnot. So, the city I gave up my contract, the city took over and they bought that land and now they're going to build a park right there. Uh, as well, they didn't they just got done finishing building the the community center right there.

[00:09:25]>> A park or an RV park?

[00:09:27]>> What is that?

[00:09:28]>> An RV park or just a regular park?

[00:09:31]>> No, they're going to do a regular park.

[00:09:33]>> Okay.

[00:09:34]>> Uh, you know, like with like playgrounds and swing sets.

[00:09:37]>> Okay, cool.

[00:09:38]>> Dog area and walk by now. And then >> do you do you regret letting them do that or do you think that's a good thing?

[00:09:44]>> Well, so so if they if they'll get it done, it'll be a kind of a good thing uh you know, so people will come in because and then especially if they're going to do a a splash pad and everything else.

[00:09:53]But you know, if you look at it more on business side of it and everything else, if I was just to buy at least one acre, you know, so I can add some more to it, you know, because the more RVs, the the more value the more the more revenue you come you get coming in, everything else.

[00:10:06]And then that would help carry over to add an awning here and there, you know, to cuz awnings are what probably I think we priced before they were like 6,000 bucks uh a piece and everything else.

[00:10:17]But on our awning, whatever was we're actually going to build it continuous uh where we're going to come in and build them cuz cuz ours ours is like a 30 ft apart. uh they're not quite as as far as you know uh you know I think it's like a 30 foot and 32 feet apart is our septic system water lines or everything else apart the spots and everything else and so we were coming in and thinking about just building a continuous awning and it was going to come out being a lot cheaper that's doing it that way >> and then then buying buying uh you know the the portable ones you come in not portable ones I should say but the ones you can buy and just you know for every spot >> uh and things like that but we do have a dog uh we do have a little playground ground area, dog area, uh things like that. We do have a laundry room, we have a weight room, workout room, uh with a sitting room, uh where um you know, you go in, you can sit down, watch TV, and uh you know, we got a little bit of video games and things like that where you go in and sit down. Then we do have an office uh for the building itself, and then we have a bathroom and closet uh for the office and everything else.

[00:11:20]And now if we're there, we allow people to come and use the bathroom. We chose not to have it public wise. just because you know uh because if it was more for like uh lakes and things like that whatever we probably would because you get those kind of people come in I'm not saying oil field people are trashing everything else uh is the fact that oil field people they tend to come out and hang out a little longer you know and try to keep because we do have rules everything is a place where you know quiet times 9:00 >> we could play a drinking game with Texas people that say things like that >> 24/7 you come in do laundry out everything else but that's fine everything else but you have a bathroom there, then the guys would tend to stay there longer because now then if they got to go to the bathroom, they they can go back into the RV and then then you call it a night and everything else, whatever. So, kind of helps in that that way as well.

[00:12:07]>> Makes a lot of sense way I look at it.

[00:12:08]Yeah.

[00:12:09]>> Have you have you thought about just keeping the park instead of selling it?

[00:12:13]>> Well Well, yes. I mean, so we're kind of we're kind of like on both sides, you know. I mean, you know, especially now, uh, you know, we're we're looking at at both both things, you know. maybe coming in, maybe have somebody come and help us run it or do something or maybe even, you know, even just selling it and go and add on to our business, you know, because we're looking at buying some land as well, you know, and the land here, the per basin, as you probably know, or I'm not sure if you're permanent bas, you know.

[00:12:44]>> Yeah, I own four I own four RV parks in Big Spring and um I'm buying one in near LC right now. It's a place called Goldmith RV Park. So, yeah, we got a lot out there and people think we're just sitting on gold for sure.

[00:13:00]>> Yes, sir. But, but you know, and that's what that's the thing is too. It's just, man, just the land is kind of, you know, you know, kind of outrageous here sometimes. And so, we're just trying to look for our our like I said, our construction side is growing uh because, you know, and we we we did we did all our stuff our ourselves and everything else. But then uh uh but we we have the people come in and they come in uh for our permitwise that I I hired a guy come in and help make sure we did it correctly and so they can sign off on our septic system because as is a septic system our deal is and everything else but it's a city water uh and whatnot. I didn't want to because their septic system would take a take a lot lot more money to run all these lines because it was probably about maybe I want to say like 800 uh well I say like like almost uh uh 8,000 feet. No, I think like 1,000 ft, something like that. Anyways, uh but we do have city water. Uh the pressure is good. I I ran my my line. I I have everything on each system. And I do want to kind of >> Why will I let a guy like this?

[00:13:59]>> Put the jump systems uh from Park. I design it where >> he's giving me ammunition breaker for each, >> but also he's building for me.

[00:14:07]>> Some guy would come in and back in and break one of the the the the power switches or the the power box, everything else. Whatever.

[00:14:15]>> I haven't gotten there yet. I'm going to let him gas himself out the park at all.

[00:14:19]And then the water line, >> which you should always do. It goes all the way around.

[00:14:24]>> But what am I learning right now?

[00:14:26]>> But he runs everything himself. He knows every screw, every bolt on this property, which actually is costing him money.

[00:14:33]>> Continue with everything else. I got like maybe 12, 13,000 water lines in there. But I have a diagram showing where how to where where to shut the saw to isolate this area, whatnot. But the the building, the the park itself is still continuous watering.

[00:14:48]>> You know, it's interesting, Joey. I'm sitting here thinking with your growing construction company, it doesn't seem to be making a lot of sense for you to put so much time into this park. Your construction company could probably make you 20 times more money.

[00:15:02]>> Correct. That's that's where me and my wife and and kids are and everything else, you know, cuz we we love the park.

[00:15:08]I mean, you know, it makes good money, you know, you know, like I said, uh you know, I say decent money, you know, it's not something that >> you have to remind people they're paying all the time, over and over and over.

[00:15:18]>> And that's the reason why. And then when you open up that wound, you let it bleed, which is what I'm doing right now to buy more land to build a building and so on and so forth, you know. And then when I talked to Vicki, she was kind of telling me some different options of things that you can do instead of kind of uh I mean I mean just just give me some ideas on how to start structuring things, whatever. And I'm like, man, and that's so and my my son, he's a big- time person that goes in and looks at how to do our taxes to look at or you'll find different people that do different things and stuff. And and I think I think uh my son was telling me about, you know, uh uh you know, people like y'all that buy parts and they they understand more of the how they buy and how to make more money and what to do and stuff.

[00:16:00]>> Yeah, that's what I do. Um, you know, and I think where you're exceptionally talented is probably building things.

[00:16:08]Like you're building your construction company, especially now that the Peran Basin, they just found way what was it like another 1.5 billion barrels in of oil over there. Like you guys got a >> Yes, sir.

[00:16:19]>> You guys got a 30-year run of oil production that's going to just make you and your family so much money in construction. this little this little park is going to actually in some ways tell me if I'm wrong, it seems like it might even hold you back.

[00:16:33]>> Oh, yes. Yes, sir. And that's and that's that's what kind of where we're at, you know. It's it's kind of like man it's kind of like it's not that you know it's kind of like man because we're not wealthy and just like I said we're just we're focusing more on the business part of it because man we got we got people now because I recently I say retired is uh as we got bought out and everything else and uh I choose to take a package from from this guys uh because I've been doing safety environmental uh manager for for 25 years you know and then we started our our construction business about three years ago my son and wife did and I've just been on the tax side kind of making calls and everything else. Now I'm doing this I started in September uh and and now we're just starting to pick up more and more and more business and you know and of course equipment nowadays are too you know so but at the same time is we can make more money in the RV park and in a month's time you know per per equipment and stuff like that.

[00:17:28]>> Yeah. For every hour you put in the RV park, you're missing out on 20 times more money an hour in your construction company, >> right?

[00:17:39]>> I mean, it runs, you know, hearts don't take a whole lot of of >> this is the problem with talking to people in West Texas because they drive, they take walk 10 feet, they lose cell service. uh far as uh anything else, man. We We have haven't had a hard anything.

[00:18:03]>> It's not us. It's him. You guys deal with this a lot, I'm sure. Right.

[00:18:09]>> No, no, no. He's still talking. I just don't I just can't hear him. He must be driving. Come on, Joey.

[00:18:17]>> Joey.

[00:18:17]>> Hey, Joey. I lost you, brother. I'm sorry.

[00:18:20]>> Sorry about that. I'm driving right now, so I got a little dead spots here. Oh, it's okay. Well, um, you know, Vicki told me about how awesome the park is and the septic and she gave me a full update on all of that kind of stuff.

[00:18:31]Sounds like you guys have just done an amazing job on it. Um, did you you guys had this on the market at one point? Um, and tried to sell it already.

[00:18:39]>> Yes, sir. Yes, sir. Yeah. Yeah, we we had on the market, of course, we we put on the market back in we put on the market right whenever I was I was leaving. Uh it was we put it back in July or August and everything else. And then of course you know you know uh the end of last year was kind of the drought in the oil field too. You know nobody was doing any work and not not people were interested in everything else whatnot. and we just uh we left there and of course contract ran out and everything else and they've been on us and trying to get us to do it again because that they have now they have two or three people that's interested in the park and everything else whatot and they want us want us to renew the contract with them and everything else so that way uh they can't show that they can't show the building without contracts and everything else but >> you know >> well can I tell you how we buy parks and see if it might be something you want to take back to your wife and your kid to see if it might work out >> yes sir >> all right So, we um go fast. We buy quite quite a few parks. And so, waiting for the bank to give us a loan is not really helpful.

[00:19:41]And I think a lot of the reason why these buyers couldn't buy your park originally is because you accept a lot of cash. And if they're buying if they're collecting cash, they're going to have a hard time getting a loan to buy your park. And so all these buyers are really locked in from not being able to buy your park because they're all going through banks.

[00:20:04]>> But if I came to you and I said, "Hey, can I apply for a loan at the Bank of Joey and would would Joey give me a loan for 500,000 I could pay monthly on?"

[00:20:16]Essentially, that's how I would buy the park. I'd say, "Hey, name your price.

[00:20:19]Sounds like it's about 500,000.

[00:20:21]And let's start making monthly payments to you. take all the burden and the 20, 30, 40 hours a week you guys are spending on the thing and just make a monthly payment to you so you guys could be freed up to go 20x your construction business. Is that what is that where your goal is or are you guys shooting for a different goal I could help you with?

[00:20:40]>> Yeah. No. So, we're we're just open up to any options, you know, uh because, you know, like like I said, we're we're kind of like, you know, this holding us back, you know, we need to go there, but man, if something like that, we can come in and we can also use that. And and Vicki was telling me also about where we can go and talk to the the guys we're trying to buy land from or something else, do the same thing. And so, that's what we're trying to learn as well. So, yeah, we're open up to all kinds of options and and and things that can help us both ways, you know.

[00:21:08]>> Yeah. How how close is this to Lebec?

[00:21:11]Uh, it's it's about about two and a half hours.

[00:21:14]>> I'm going to be out there in a couple of weeks. Here's here's my suggestion. I think if you go to your son and your wife and just say, "Hey, I have somebody that would buy the park from us, but they're going to ask for seller finance, which you're the seller and you'd be accepting monthly payments from us and we could meet in person, come see the park, shake hands, and maybe work out some details on what that even means."

[00:21:37]But I think step >> Oh, man. That would be great. I think step one would just be make sure that your wife and your kid would be on the same page of having a deeper conversation around your family financing us buying the park. Meaning, you're not going to give us money.

[00:21:51]You're just going to give us a loan called seller finance and I make monthly payments to you every single month for a number of years and we take it off your hands and just send you a check, right?

[00:22:02]And >> those details can be worked out in person, but do you want to talk to your wife and your and your son and just say, "Hey, we could go 20x our construction business if we remove the time constraint that this thing's taking and this guy's going to fly out and hang out with us for a day and chat about the park. If they're interested, then I think we'd take the next step and we meet up face to face. What do you think?"

[00:22:25]>> Yeah, that'd be that'd be good.

[00:22:27]>> Okay, great. Yes, sir.

[00:22:28]>> Well, I'm going to get with Vicki. I'm with her here in Arizona at my office.

[00:22:32]I'm going to get with her and her awesome husband and we're going to chat about um when we can get out there and I'll have Vicki give you a call and see if we can schedule something. Maybe even visit the park for a little bit. Maybe grab some lunch and chat about what we could do and what kind of options we could bring to you guys.

[00:22:48]>> Oh yes, sir. Man, that'd be great, man.

[00:22:49]I appreciate y'all.

[00:22:50]>> Okay, cool. Well, I'll let I'll let Vicki get back in touch with you. I appreciate your time and you just sound like a really cool guy I want to have as a friend. So, thank you for taking the time. You know, it's the same here. I thank you for taking the time with talking to me and everything else. So, thank you all.

[00:23:04]>> Yes, sir. Appreciate you so much.

[00:23:07]>> You take care.

[00:23:08]>> You, too. Thanks, Joey.

[00:23:09]>> All right.

[00:23:10]>> Okay. Cool.

[00:23:15]>> Okay. So, let's kind of go through this.

[00:23:17]Um, >> you said 20 words and he said 200.

[00:23:21]>> Yeah. Yeah.

[00:23:22]>> That's how it is when I'm calling.

[00:23:24]>> Yeah. Yeah. And, um, but he's, you know, Did he give you 500?

[00:23:30]Did he tell you 500?

[00:23:31]>> No, I think you did.

[00:23:33]>> I just He had mentioned that.

[00:23:36]>> Guys, remember you're not negotiating in these calls. Oh, thank you. Thank you.

[00:23:40]So, we're not negotiating in any of these calls, right? And when you're buying a business, cuz we're buying a business from this guy. We're not doing like single family, right? You're in wholesale. I don't need to go see the house, right? Very rarely does my from 2013 to 2018, I went and saw the houses cuz I loved doing it.

[00:24:01]And then from 2018 to 2022 until I stopped wholesaling and just went full-time buying. Um, my team just did everything virtually. It was hard for me because I had emotional attachment to it. But single family is very different in when you start negotiating versus this is a family business, right?

[00:24:19]There's moving parts, there's septic systems, there's all sorts of things we got to figure out. And also, this guy's collecting cash, which is um it's an opportunity for us. By the way, this is a great video of people like why would a seller just sell to you on seller finance? Does everybody does this open up your eyes of like there's people out there just like take this thing off my hands? So, this belief system like and guess what? This is what's so funny is there's only 27,000 RV parks in the in the country, including like campgrounds and stuff like that. And here's this guy tried to sell his house multiple times.

[00:24:58]He's never been offered creative finance. In 2026, he's never been offered creative finance.

[00:25:04]>> And he didn't know what it was.

[00:25:05]>> Didn't even know what it was. So, is it It's a blue ocean. There are sellers that are listing their properties that are in bad sit Is he in a bad situation?

[00:25:16]I don't know. Can I make an argument?

[00:25:18]I'm gonna make an argument. Is he in a oh my gosh, I'm going to lose my life situation? No. But let's make an argument that he is in a bad situation.

[00:25:27]The argument would be he's not 22 >> and he's losing money, >> right? He's losing he's losing money um on his construction company.

[00:25:38]>> So, let's think about this.

[00:25:40]Fast forward 20 years or 30 years. This is how I would paint the picture. Again, story is very critical. Why is story critical? Because when I go meet the son and I go hang out with you, I just want to hang out with you guys. I want to know where the Tom Ford store is in love, Texas.

[00:25:58]Okay? So the story I will tell the son is I'll say man if I'm involved in this construction company the compound effect of what this park is having on your future in 20 years it's keeping that construction company from growing you could be worth $30 million in 20 years or you could be worth $1 million and the biggest thing is removing the ball and chain of this RV park to allow you to grow. So if I'm the son, I can feel that because I'm young. Remember when we're all like 20 years old and you're just full of piss and vinegar and you want to take over the world. His son is that in that speed. So his son's in his ear right now going, "Dad, we got to get rid of this park. It's taking up all your time."

[00:26:42]>> And he just graduated from petroleum engineering.

[00:26:44]>> Yeah.

[00:26:45]>> He's young.

[00:26:46]>> Yeah. And he's got a lot of energy, right? He just graduated.

[00:26:49]>> Yeah.

[00:26:50]>> So the story the the main person This is an easy deal to get done. However, zero down, 0% interest, that is what I would shoot for here, and I would utilize what I now know to get a better deal. Is there is there a deal to be made here? Yes. Can I get a sweetheart of a deal that makes so much sense for either you or a potential buyer that you could wholesale the deal to? Yes. And that would come from all the ammunition we got. So, what's the ammunition we got? He collects cash.

[00:27:22]kind of nice for the temporary situation.

[00:27:26]I don't have to report this to the IRS.

[00:27:28]That's kind of nice. My RV parks in uh Big Spring, Texas, same thing. They the tenants for some I don't know what it is about the oil guys, but they got cash.

[00:27:41]And so they go into the office. Also, it helps our office girl is really cute.

[00:27:45]So, they're like going in there talking to her, dropping cash. So, it's bad for It's good for him right now that he owns it. It's bad for him. Why, guys? I want to make sure we all know this. If he's trying to sell the RV park, he's selling it to a buyer.

[00:27:59]>> Can't go to the bank. The bank's going to say, "Well, where's the reporting?"

[00:28:02]>> Yeah.

[00:28:03]>> He's filing basically a loss on his IRS, which is great for us. And how many of these RV parks do you think are doing that?

[00:28:10]>> 90% of them.

[00:28:13]>> Guys, there's these RV parks are still using pen and paper bookings.

[00:28:18]like they have a three- ring binder and they're like, "Yep, we have opening on March blah blah blah. We got this is holding him back." So, is he gonna is he going to file bankruptcy? No. But, man, I would be upset if I was the kid. And I think that he also understands he's a he's a he's a Texas guy. What do Texas guys want to do? They want to build cool things and they just want to work. So, what he where he's got caught up in this deal is that he's had so much fun tinkering with it. Kind of like it's his own farm. I'm the same way on my property. I could waste weeks and weeks and weeks doing nothing and be the happiest guy on the planet. Right. So, he's building. Yes. What's what's the question?

[00:28:56]>> What is the net profit on this?

[00:28:58]>> It don't matter. You guys are you if you ask the question of how much does it bring in before you know the pain, you have failed already.

[00:29:08]Okay? Because whether the cash flow is really good or really bad, I can find a buyer or I can structure a deal. Do I structure a deal based on going, "Hey man, your cash flow is not too good, or do I structure a deal be based on becoming friends with Joey, which Vicki did a good job of." Vicki, I'm going to tell you right now, your personality will dominate this industry. Somebody who naturally wants to be friends with people and you enjoy visiting with people, you will dominate. Yeah, I know.

[00:29:35]We we know you use the word, do you have time to visit?

[00:29:40]That people don't say that. People say, do you have time to talk? Right. you wanted to visit with him, right? West Texas girl wants to actually connect with somebody and visit with them, right? Stop by their house, sit on the porch, that type of thing. That is this entire business. If you touch the spreadsheet on this before you meet this guy, you failed. And it's the same thing on every business you ever buy.

[00:30:02]>> Yes. Go ahead.

[00:30:04]>> Um I'm curious, what do you do once you get it? Who's running it? Who's stepping out?

[00:30:08]>> Okay. So, you're taking like 10 steps ahead, which is fine, but the next step would be, let's go meet with this guy in person. Let's build a relationship with him and go, we may or may not be the buyer, Joey.

[00:30:21]And now you can be honest with the guy and you can say, I like the park, but it's a little bit small for us. Would you mind if we found a buyer for you?

[00:30:29]Now I can be honest in the fact that I'm going to wholesale this to somebody else.

[00:30:32]>> And I have about three people out there want it.

[00:30:34]>> There you go.

[00:30:35]>> Are we valuing RV parks per space? No, you you value every business by this stupid acronym called NOI. Net operating income.

[00:30:46]>> Okay.

[00:30:47]>> Everything in business is valued by what does it bring in in in actual cash.

[00:30:53]>> Yes.

[00:30:53]>> And what I want what I told Joey was that um he's only getting what 450. He said he wasn't charging enough.

[00:31:01]>> Yeah. We charge in our parks which are just a couple hours away from him. We charge $700 of space plus 250 for the awning. So 950, >> right? Well, my son lived there. Started out in the oil field there. And he lived with a kid that he went to school with, but he told me he put slips in at his house. Everybody has hookups at their houses in that area. Everybody. And he put tin in and he put old RVs. He tinkers with things. They don't care what it's like in the oil field. it can be nice or not and he gets a thousand just because of the RV.

[00:31:39]>> Yeah, I believe it. Okay, so um I want to I want to make sure I land the plane and you guys all have a bunch of questions which is great. You got to land the plane by understanding what's your next step cuz this is your deal.

[00:31:50]Okay. Um if I don't have the ability to jump on a plane, I'm already going to love it. So this is just the universe is you know pleasant, you know, pleasantly giving us a fun time to hang out with each other. Um, but I am going on a plane, which is great. Let's say that I live in Siberia and there's no way I'm going to be able to get there. What I would do is I would probably have another conversation with him, his wife, and his son on a three-way call because I don't want what we call the black swan. The black swan is the unknown enemy.

[00:32:22]Okay?

[00:32:24]Meaning, um, when a white swan is swimming on a lake, I can see a white swan real fast. When a black swan is swimming on a lake, it's like, is that something out there? It's hard to see.

[00:32:33]And so your unknown enemy is always a family member or somebody to close to them that's going to say, "What are you doing selling that part for no money down?" Okay. So, the next level of rapport that has to be built is going to be with the brother or the son and the and the the mom. You can do this on a three-way call. You and I are not. We're going to try and do it in person. How do we do that? Email Nisha n i sha pacem.com. She handles my travel and all the things. nisha pacemorby.com and I gota I got to change my whole schedule to accommodate this but it will be fun.

[00:33:07]We'll document it and then it'll attach to this video and it'll be a good compound >> close to your parks.

[00:33:12]>> Oh, sweet. Maybe I'm the buyer. Why would this be a a buy a buy for me >> cuz I already have a team, right? So, this is like a little side quest for us, right? We already have resources and stuff. So, if it's close to my parks, this might be a good deal, especially if it's a no money down deal, right? Okay, cool. So what we'll the next step would be this. We go to the park. We build a rapport with the son, the wife, etc. And we go these are the type of options we have. We can pay you the number you want because you're willing to give us the terms that we're going to ask for, which is zero down. We start making money payments next month and it's principal payments only until we pay it off and then what do you guys think about that?

[00:33:50]Oh, I don't know. We'd like to have our money in 3 years or 5 years. Okay, cool.

[00:33:54]Well, why don't we do it this way and we'll mess around with it. But we've built the rapport to deserve to ask those questions, right? You don't ask those in the first 3 minutes of the call. They're like, "Oh, this person's taking advantage of me." Right? So, we're going to deserve to have those conversations. They will then tell us what it's kind of making, but there are no financials here. There are no fin I'm going to say this a third time. There are no financials. Why? He's collecting cash. And so he's in a situation like 90% of RV park owners that are like, I'm living on the cash and this is my, by the way, Mark Coler, who teaches tax um strategy, this is actually the greatest tax strategy of all time. Just bring in quarters all day long. Live your life.

[00:34:37]Go to the grocery store going, "Hey, here's my sack of quarters. I'm going to buy." You know, that's what he's doing.

[00:34:41]So that would be our next step. The next step then the next thing would be we're going to send an LOI to them. And we're going to say, an LOI is a letter of intent.

[00:34:51]And we're going to say, "Hey, we're going to go to our team and we're going to see if this is a good deal." Even though I have the letter of intent, it's going to say, "Hey, Vicki and Pace LLC, our the name if you and I do a deal together, this is the name of our LLC."

[00:35:06]Okay.

[00:35:09]So, we will do we'll create an LLC.

[00:35:13]That's what the L That's what the LOI is going to be in. Could be in my LLC. we don't have to create one. And in that LOI, it'll give us the ability to go find a buyer if we decide we don't want to buy it and I could go wholesale the deal. This is not a purchase and sale agreement like what we do in single family. Single family go straight to contract. In commercial and businesses, we go to LOI then PSA. Okay? So, this gives us time to go find a buyer and go, "Hey, Joey, we're looking for a buyer for you. It's we're having a hard time."

[00:35:42]Or, "Hey, we found a buyer for you.

[00:35:43]We're going to introduce you, but we're going to get them all figured out." blah blah blah blah blah blah blah blah blah.

[00:35:48]It's probably 2 months. I bet you could probably get paid 50k just bringing a buyer to this deal. If it it's a zero down, zero zero money down, 0% interest, you might even get a buyer go, I'll give you 75 grand for that. Right. So, I can help you walk through all of that and we can teach everybody in the community how to do it. Yeah.

[00:36:06]>> I I am not an educator. I am not a mentor. I'm not a coach. I am your friend that wants to do deals. That's all I am. Okay. Um, you somebody had a question. You had a question?

[00:36:17]>> Well, yeah. I mean, it's on the subject of it.

[00:36:19]>> Yes, sir.

[00:36:20]>> Which is like this one. It's a RV park.

[00:36:23]Uh, it's this one's significantly more though, but it has like 88 spaces and it has >> Where are you stuck on it? Don't tell me about the park. Tell me the problem you have.

[00:36:36]>> Well, I I don't know how to approach it really.

[00:36:39]>> Okay. So, what you're saying is I don't know how to call the seller and I need a script.

[00:36:43]>> Yeah, I guess. Yeah. Okay.

[00:36:44]>> What would be like the first steps?

[00:36:46]>> The first step is find somebody in the community and I can help you with that too. But like you should, you guys, this is a community. Do not think this is a course and a mentorship. I hate them. I don't hate them. I buy those two, >> but I didn't want to build that. Which means you have people in this. We've been going for 6 years. We have 30,000 members. We are 8% of the entire RV park market is in this community. We own 8% of the entire RV park market. Do you think there's a buyer in this community that will help you with that deal?

[00:37:12]>> Yes.

[00:37:12]>> Yes. So owners club is the best place to go because in the 700 owners club members there's about 800 RV parks that are owned between those 700 people and they're actively buying just like I am.

[00:37:24]So the first step is who's going to help me like pace just help me? There are how many paces in this community?

[00:37:33]>> At least 700. Okay. But there's thousands. Okay. There's 700 I could go find right now and it's an RV park. You go, "Hey." And I would go to owners club. The best way to do this is 76819.

[00:37:46]Have you texted 76819?

[00:37:48]Okay. Text 76819 and say, "I have a deal."

[00:37:54]And our AI will connect you with somebody in owners club to help you make that call.

[00:38:02]Okay?

[00:38:04]And do not text them when you have a general question. And I will kick I couldn't kick your ass, but I I look at you, bro.

[00:38:12]>> You could kick everybody's ass in here.

[00:38:14]>> Let's also do RV park underwriting on Monday afternoon.

[00:38:17]>> Yep.

[00:38:18]>> Yeah. Yeah. So, we have underwriting, but you don't need underwriting. You need somebody to make do what I just did. You need somebody to go, "Hey, I'm the buyer. I'm a potential buyer on every RV park. This just so happens to be some buy some my park, so I'm going to give you and plus you were the first person to raise your hand, so I'm going to give you some special attention."

[00:38:34]You won't get that from me all the time because I'm busy. I'm doing all the things. But there's 700 of us in the community that can also help you with that. So 76819 and go, I have a deal.

[00:38:44]And if you don't have help by the end of today, text it and go, I 76819, I have a deal. So the number you're texting is open up a text, text the number 76819.

[00:38:53]That is the phone number to text. Then say, I have a deal. And let it kick in.

[00:38:58]It'll take you 30, 40 minutes. It'll start communicating with you. And then say, I have I have an RV park I need help with. and it'll find somebody for you. And if you don't have that person by the end of the day, I will personally give you somebody to work with. Okay.

[00:39:11]Um, any quick question? Yes.

[00:39:13]>> Isn't that going to be the same number we can test for something unrelated to RV parks?

[00:39:17]>> Anything? Anything. Owners club is so the way you got to understand owners club is the only way to get into owners club is to have already been part of this community and have gone to squad summit. So there are people that have been filtered to make sure that they've done the right things. because they've gotten to the point where they can help you. It is a wild, wildly diverse group of people. You have people that are just raised $100 million for data centers, people that are buying 20 RV parks this year, people that are wholesaling 13 houses a month.

[00:39:47]Owners club is there to help lead. It is my right hand and my left hand to help lead this community and bring the resources. So, there's 700 of me in owners club. Some are better than me, some are not as good as me because they might have just joined owners club, but they're going to they're get there and they're going to be that extra warm body to help you out. Remember, I could say this a thousand times, but it won't be for like 6 months that you go, "Holy crap, what Pace Built is just an insane thing." If you treat this like a course and you treat it like a mentorship, I will find you. I will hunt you down and you will beat my