Is A Market Rebound In Site? And Some Important Collecting Keys Announcements

Dan Austin: [0:00] There's a lot of things going on that indicate that there's some potential for opportunity in the residential real estate market continuing to go forward. Like, it's not dead. Like, a lot of people are probably panicking, but I'm not one bit. JPMorgan Chase announced that they're gonna buy a billion dollars worth of turnkey rentals starting in Atlanta, which that sounds like a lot. It's actually probably only, like, 3,000 houses, which in the grand scheme of things isn't a ton, but that's... A big player would be so much easier to go buy, like, 3,000 apartment units. Mhmm. Right? From a management standpoint. Right? If if you're JPMorgan and you're gonna go get one of the best asset managers in the world is what... You know, they they have that momentum. And you're gonna go and buy, you know, say, a 100 apartment buildings with, you know, 300, you know, units in each or whatever. It'd be easier than 3,000 individual houses. But, I think part of it too is is, like, this turnkey model for the residential real estate with building costs and all that stuff going down is, like, not a bad model for individual investors. And I think that Mhmm. Big banks, big hedges also see that. That's why they've been dumping money into single family homes.

Speaker 2: [1:05] Welcome to the collecting keys real estate investing podcast with your host, Mike DeHaan and Dan Austin From wins, losses, horror stories, and tactics for optimizing your business, Mike and Dan take a real uncensored deep dive into the ins and outs of running a full time real estate investment and wholesaling business.

Mike DeHaan: [1:29] What's going on, guys? Welcome to the collecting keys real estate investing podcast episode 60, and we are right here wrapping up Thanksgiving going headlong into the holiday season of 2022. And the market... It's funny. I feel like this is my personal sort of feeling. I feel like the, you know, things have been going down. There's been all the talks, like, last little bit. It's been a little bit rocky. But, like, for some reason in my gut, I feel like we're kind of on the edge of it not being just so negative anymore.

Dan Austin: [2:04] What's the gut feeling there? Is it because you gained two pounds during the holidays and you're a little bit heavier? So you're just like Bro, it is bulking. Is a little weird.

Mike DeHaan: [2:11] It is bulking season. I have gained far more than two pounds, my friend. That is all Good deal. All intentional. You know? It's not something I used to do when I when I competed, because I would do, like, a bulk every winter, and I haven't done it for the last three years. And I decided, what the hell? Let's just do it this year.

Dan Austin: [2:26] Do it this year? Is it a dirty bulk, or is it, like, a clean bulk? Perhaps

Mike DeHaan: [2:30] kind of a mix, if I'm being honest. 70%. Yeah. You know? But either way, the crazy... I just put on poundage, though, man. I'm up, like, 10 pounds since the beginning of October.

Dan Austin: [2:39] I'm trying to go the other way right now.

Mike DeHaan: [2:41] Yeah. See, I'll do that. I'll do that after the New Year. But, anyway... Yeah. I don't know. Just like the way that the interest rates have gone, a lot of financial pundits are saying that they think that they're gonna start dialing back a lot of the the rate increases and maybe even just keeping them level for a little while. And, you know, I've been hearing a lot of people say that their prediction is stuff will bottom out kind of in the early spring before the weather starts to get nice, cause then they'll start to turn interest rates around a little bit. And they Mhmm. Also choose the psychology of people. It will have been almost like a full year at that point of, like, things aren't 2,000 Right. '21 anymore.

Dan Austin: [3:17] Mhmm.

Mike DeHaan: [3:18] So they're gonna start to just open up to the idea of higher interest rates Right. Of being able to ask for concessions without being outrageous. Because, like, right now, the situation is, you know, a lot of sellers, they still wanna pretend like it's 2021. Although, they're sort of becoming more rational, but then buyers are acting like it's... They they are a little bit. But buyers They're like YOLO. Yeah. Right? But buyers are acting like it's 2,010. Know, like, some the

Dan Austin: [3:42] things like assholes right now.

Mike DeHaan: [3:43] Yeah. Some of the things that people are asking for are just, outrageous. Right? Because Yep. Know, all they know is that someone on the news said that, oh, the market's going down, and they're like, cool. This is the moment that I've been saying I've been waiting for for years. And it's like, yeah. But it's not that extreme.

Dan Austin: [3:56] It's not that extreme. Yeah. Yeah. I don't know. It's kind of interesting time because I still feel like there's some pent up, like, capital out in the market because, like, even a glim... Like, a glimmer at, like, okay. I think inflation's still bad, but it's not as bad as last month. And then all of a sudden, the market goes up. So I feel like there's still, like, some some momentum behind it. And how long does it take to get that out? And my guess would be that the Fed might cut it a little bit short, and so we'll have inflation for a little bit longer time. When I say cut it short, I think that they might, to your point, start dialing it back. But I think by next spring, it'll still be too soon. You think so? Personally. Maybe. I think inflation will still be... I think we're gonna still feel it all the way through next year.

Mike DeHaan: [4:38] Well, I think the That's what I feel

Dan Austin: [4:40] like because there's still too much money out there right now.

Mike DeHaan: [4:42] Yeah. I think the inflation for sure, but I do see the rates and stuff. I don't see them continuing to raise it, which is kind of the big thing that's been holding people back as it's it's made houses suddenly a lot less affordable than they were. I don't know. I think that they'll... You know, they're not gonna... They're gonna raise rates that much more and at some point too, like... Because that... Because that's the thing too that people don't realize is that banks, when you go to get a loan, the interest rates that you're getting, it isn't directly based off of what the current government rate is. It's based Federal funds rate. Exactly. Well, and then it's based off of too what they're projecting the rates to do kind of over the short and, like, the middle term. And most banks, they... I think they said they they project them over, like, seven years because that's where they try to get their profitability Mhmm. Maxed out with, like, what they're anticipating rates to be because that's the typical length of time that most people own houses for before they sell them. So they try to squeeze as much as they can in that seven year window, hold on to it for longer. That's fine. But... So because of that, when there's, like, turbulence, that's why mortgage rates get so high even compared to the expect. Exactly.

Mike DeHaan: [5:40] They don't what to expect. So they're basically, you know, being more cautious in trying to get more revenue on their books, the banks are, because they don't know what the government's

Dan Austin: [5:49] gonna do. And most banks are highly conservative on their balance sheet. They do not like to take risk. Exactly. I mean, they're in

Mike DeHaan: [5:55] the business of not losing money. That's literally what a bank's job is. Yep. Exactly. So... And... But then, like, you know, as as more news and stuff starts to come out from the feds, that's why you'll see these days where they're like, wow. Interest rates was... Were 7.25 yesterday, and now all of a sudden they're five and a half again. And it's just because, like, someone in the Fed somewhere said something and the banks, like, all the people who are at the top making decisions are like, cool. That alleviates our worries, and they'll just drop it right back down again.

Dan Austin: [6:22] Right. Yeah. So Yeah. They interpret it, and then the the analysts interpret it a certain way because, like, they're listening to everything that that Jerome Powell says. It's Mhmm. When I took a... An economics class on this, it was kinda funny how you learn how to, like, break down what they say, and it's all an interpretation. So you could go learn it somewhere else, and it'd be a totally different interpretation. But that's how interpretation is like, well, what he didn't say or what he did say. And then whatever the masses agree on, then they make the decision like you're saying the banks are like, oh, I think we're good this time.

Mike DeHaan: [6:50] I think

Dan Austin: [6:50] we're good with lower rates. We have a little bit better forecast. We're feeling a lot better. And that's why they're saying, hey. Next time, if they do... And they've been saying this for several months now. Next time that they... If they do 50 basis point, raise, we know we're

Mike DeHaan: [7:02] in the clear.

Dan Austin: [7:02] We're we're already cresting it. And my... I guess, my argument is is that we may do that too soon, and I think that there's still enough capital in the market through the next six to nine months that any little blip, we're gonna just start seeing things skyrocket, like, far as prices again.

Mike DeHaan: [7:18] Yeah. I mean, you're probably not wrong. Yeah. It'll be interesting. And, I mean, it makes me feel... I I guess maybe I'm leaning on this too because I'm trying to feel better about the house that we haven't been able to sell, that we were we were under contract for. We were willing to accept a pretty decent loss on it. And then, man, we had such a stupid situation with that where they were... Well, you know, we came to good terms. I was looking to move forward. They went and brought out their inspector. Everything looked fine. We kinda did a pre inspection, but their inspector really got into the guts of the house and had found from the previous trashy ass owners that they had put repaired. They repaired the leaking roof. They, quote, unquote, repaired the leaking roof. To be fair, we didn't we didn't find this when we were doing all of our stuff. No. But they they, quote, unquote, repaired the leaky roof. And to prevent any water from their repairs coming into the house, they had, in the little nooks and crannies of, like, the crawl space, shoved a bunch of, like, dog potty pads to eat up all the moisture, which their their inspector found. It is. Yeah. Immediately put up the red flag. They brought out a roof inspector. And, of course, there's a roof inspector that also owns a roof company. They're like, yeah.

Mike DeHaan: [8:24] You gotta replace the roof. It's gonna be, like, $30. So... Which is completely not true.

Dan Austin: [8:29] Always double what it's supposed to cost. Yeah. Or at least that's what they convey anyways. And it's a negotiation. But... Yeah. Yeah. It's a bummer because we brought our roofer out to that house when we owned it this summer. And, like, he's like, yeah. This roof's a little little sketchy in some of these spots. But... And we... So we knew it, but then it snowed and it covered up the roof. And, you know, we're like, well, you know, maybe we'll just let's just roll with it. And guess what? Well, and also

Mike DeHaan: [8:51] too, the roof... The the... Our roofer said it was sketchy. He didn't say it was, like, terrible and, like, needed to go. You know? But, like, it that obviously wasn't a new roof. You know? It's been on there for a while.

Dan Austin: [9:00] It's a three tab shingle roof, which you can't repair anymore because they don't sell those types of shingles, at least in our area. And so it's one of those things where you're as a flipper or, you know, as investor, you're kinda caught Mhmm. In between because it's like, do I make a minor repair? Do I replace the whole thing? It doesn't have to be replaced. Do you just lay over top of these shingles and save a couple grand? Like, there's so many decisions you have to make at that last moment when you find something like that. And for us, ultimately, it was just like, well, let's just let it ride. There's... It's not actively leaking. Right? There's no water damage in the house that we found. Mhmm. And our contractor climbed up in the attic and, apparently didn't do a good enough job inspecting everything. Yeah. Yeah. So Kinda stinks. But

Mike DeHaan: [9:38] Yeah. So we went out of contract there and then, you know, relisted and basically, you know, right now going into Christmas and chances of it selling, especially because it keeps freaking snowing, are somewhat low. Here's here's

Dan Austin: [9:49] the annoying thing about that. Yeah. Is... It's not only gonna be hard to sell, but it's hard to rent because nobody's gonna try to move in December. You know? So we... Either way, we're sitting for another month. So you have to make the decision. Do we list it for rent for a month or keep it on the market? I I would just argue keep it on the market at least another couple two, three weeks so that when we do go to rent it, like, right after the holiday season, it's only been on the market, you know, a week Mhmm. By the New Year, and people are like, oh, it's only a week. Yeah. That makes sense. You know? Because you're playing with that, like, time on market both for rentals and selling a home. Yeah. The number does matter to people because they can see it on Zillow now right front and center.

Mike DeHaan: [10:22] Yeah. Well, then also too, I mean, we have to look at do we even necessarily wanna rent it. I mean, we technically need you to refinance it, but we have the ability to pay off our hard money loan in cash. So, you know, like, if we do think that the market's gonna be turning around in spring, I guess, which I do, I mean, maybe it's in our best interest just to park that for a couple of months and then try to list it at, you know, a higher value where we're actually gonna come out profitable here in the springtime.

Dan Austin: [10:46] You know? It's an option.

Mike DeHaan: [10:47] You know? It's the opportunity cost of money, which gets kinda interesting. But Right. Yeah. So I think that's a big reason too. I'm I'm hoping that things turn around because if we can... If, you know, we can anticipate that or we can predict that. And, I mean, even then, it might not... It might be to our interest just to pay it off anyway and wait and then analyze in, like, the springtime what we wanna do, you know, even though we gotta sit on it. Absolutely.

Dan Austin: [11:09] I mean, there's a lot of there's a lot of stuff going on too. Like, there was, in the news over the weekend, I guess I should say, Becca, there's lot of things going on that indicate that there's some potential for opportunity in the residential real estate market continuing to go forward. Like, it's not dead. Like, a lot of people are probably panicking, but I'm not one bit. But, JPMorgan Chase announced that they're gonna buy a billion dollars worth of turnkey rentals starting in Atlanta, which that sounds like a lot. It's actually probably only, like, 3,000 houses, which in the grand scheme of things isn't a ton, but that's an... A big player at the time where the... Which is funny because, Jamie Dimon, the the CEO of JPMorgan Chase, is out there saying the end of the world's coming. Right? So I always say it's weird because you don't hear about j... You know, Jamie Dimon until all of a sudden he's in every single news outlet. Like, why is that? Like, that guy doesn't necessarily personally benefit from that unless he has an ego and wants to be on the news. But he's going out there saying, hey. We could be facing one of the worst times ever, but then my company's partnering. And, a billion's a splash in the bucket for them, but, hey. My company's partnering to spend this year a billion dollars in residential real estate. It's like, why are you out there saying that the markets could potentially be really, really poor performing for a lot of people who could lose a lot of money, but I am going to start going to the residential real estate market? There's other hedges that have been in the real estate market as we know buying up single family homes. Because then I also think I'm like, why isn't he going out there?

Dan Austin: [12:39] It would be so much easier to go buy, like, 3,000 apartment units Mhmm. From a management standpoint. Yeah. If you're JPMorgan, and you're gonna go get one of the best asset managers in the world is what... You know, they they have that momentum. And you're gonna go and buy, you know, say, a 100 apartment buildings with, you know, 300, you know, units in each or whatever. It'd be easier than 3,000 individual houses. But I think part of it too is is, like, this turnkey model for the residential real estate with building costs and all that stuff going down is, like, not a bad model for individual investors. And I think that

Mike DeHaan: [13:12] Mhmm.

Dan Austin: [13:12] Big banks, big hedges also see that. That's why they've been dumping money into single family homes. Here's where I think we've all been kind of, like, have a bad taste in our mouth is we've been taking, you know, these shitty houses, may... Maybe c class or or b minus houses, renovating them and burning them and turning them into great rental properties. Cool. You know what's better than that? An a class, like, brand new new build in a good neighborhood that doesn't need any maintenance and work, and you can get for essentially the same cost basis, the same tax basis, whatever you wanna call it, capital basis as that house you bird.

Mike DeHaan: [13:47] Yeah. And you're starting to see that now. Whereas, like, mean, previously, the whole fixing up methodology, which, I mean, still super viable, especially being at a large discount Totally. Made sense was because the the construction costs were so high and the cost, you know, and demand for new build homes was so high. But as that's dropping down, you know, if you can... Like you said, if you can get a house that's already done with no issues for the same basic price or even, like, similar price, you're gonna be in a much better spot. So, like, I know we talked before this. You were mentioning just down the hill from us here. So Doctor Horton has some new builds that they're trying to sell for, like, $3.70 or something. It's like a single family rancher, which is highly rentable, three bed, two bath, but they're offering, like, $40,000 towards Incentives. Incentives to get into the house. Right? So that makes... Basically brings down your basis from $3.75 down to $3.35. You know, you could rent this house for... In these neighborhoods, 21 to 2,500 Easy. Depending on how nice your finish is and the lot is.

Dan Austin: [14:44] It's walkable sidewalks, Starbucks right there, grocery store walking distance. So it's the ideal... It's that ideal neighborhood for the young family starting out Exactly. That that has a money but doesn't have a house yet.

Mike DeHaan: [14:56] Yeah. And then with that buy down, like, I mean, if they're offering you $40, you're gonna be able to get your interest rate from a six and a half down to, like, a three and a half or four or, like, however low the bank will even let you go.

Dan Austin: [15:06] Yeah. You have a huge buy down. I looked at it even at a 4% rate on a note like that. If you had 25% down, like, you'd be cash flowing pretty solid. And, like, your OpEx and CapEx, assuming your new build inspection goes well and doesn't have a bunch of weird shit that you don't find or don't notice, should be very low. Right? Your maintenance and all that stuff. That's the nice thing about those new builds. And the thing you have to think about too is with any house, do you keep it for five years, ten years, thirty years? Right? On a new build like that, I think five to seven years is perfect. And then you can flip it out, flip out of it and reposition your money into something else. But, yeah, it's starting to make more sense. The tough thing about that still is is typically when you're buying it in this manner is the out of pocket cost. Yep. So most of us folks run out of money pretty quickly when you're doing that if you don't have a billion dollars backing you to go and buy these houses cash. Mhmm. Right? And then refinance them or restructure your debt against them however you want because you're JPMorgan Chase. Right? It's different for all of us, but there's still some options out there. Right? I mean, do you do you know people... Other people's money? Could you could you pull together some cash to do this and put a bunch of down payments?

Dan Austin: [16:08] And and planning that you're writing this thing out for three years to figure out how you can restructure that debt and get... And refinance out of it where you own it and you pay off your investors or or some other shape... You know, there's some other, you know, form of that.

Mike DeHaan: [16:20] Yeah. Or, like, if you're just a newer investor who has some cash saved up, but you're just a little bit afraid to get your hands dirty right now because you're personally unsure about the market, you know, going... If you'll say a $100, go and buy two of these houses, you know, you can go and start to get your feet wet. And sure, might hinder you for a little bit, but it'll at least get you the basis for some mailbox money. I mean, that's very basic I think that's

Dan Austin: [16:41] how I started. Yeah. Was I was gonna say, I mean, that changed your trajectory. At the time, though, was that an amazing decision? Was it like, oh my god. Mike is killing it.

Mike DeHaan: [16:49] No. Not at all. I... And, like... And that's why I... That's literally how I started. You guys haven't heard my backstory is I went and I liquidated my corporate four zero one k, after I quit my, w two job and bought some some new build houses. And just like... It pretty much ate almost all of my capital. And at the time, like, in in hindsight, they weren't great investments, I didn't know what the hell I was doing. I just said, like, cool. I'll jump into it. But it gave me the basis and understanding of, like, how to work with lenders. Mhmm. You know? How to start getting tenants? How to start managing a rental? How to do all these sort of things? And then once I started collecting those rent checks, it gave me a little bit of a bug and encouraged me to start going to real estate meetups and all that sort of stuff. Because all of a sudden too, I felt that my impostor syndrome was now gone when I went to these meetups. Because I was like, hey. Yeah. I own two rental properties. You know? I'm not just there, like, trying to learn and talk about it. So Yeah.

Dan Austin: [17:41] You know? That was a great decision because, a, it was cool. They were just down the road from your house your current living, so you could manage them. Then you were open to new things because you got the, at least one of my... I can't remember if you did both, but the state started renting from you with the felony disabled Mhmm. Which I just could not believe when you did that. They, you know, you made a killing on that first little deal with them, and they paid for, like, a brand new fence because they needed a fence. You didn't have a fence. Right? Because most new build houses in in this area don't come with a fence, you got a new fence and all that sort of stuff. Some really cool things. But then fast forward several years, and those houses were just worth so much more Yeah. In a desirable neighborhood, of course. One of the most desirable areas in Spokane. And so they went up Mhmm. In value with everything with, you know, all all... What is all boats rise with the tide, but yours rose a little bit higher because you were in a better area. And then you were able to take that money, refinance that, and keep the momentum going and buy not just two, but multiple after that.

Mike DeHaan: [18:33] Exactly. Yeah. And I think that's a key too is if you are gonna explore assets like this, make sure that they are in the primo area because, I mean, even around here, you see people that are doing new builds in, like, the shitty parts of town. Don't buy those. Just because Yeah. They spend the money and do it in a a class area because You're

Dan Austin: [18:48] in a good neighborhood.

Mike DeHaan: [18:49] Yeah. Bad bad part of town with a nice house, still bad part of town is gonna affect Absolutely.

Dan Austin: [18:53] I I was driving through Hilliard, which, for our listeners, that's one of the... It's not that bad of an area comparatively speaking to other parts of the country. But in Spokane, if you say that, people are like, oh god. And there's way worse parts of town if you ask me than that that But I was, like, driving it through the... Over the holiday weekend, and there were some, like, super super nice houses in that area.

Mike DeHaan: [19:15] Mhmm.

Dan Austin: [19:15] But I was like, oof. Still wanna buy it.

Mike DeHaan: [19:17] Yeah. I mean, even even seeing some of the flips and stuff that were done out there, It's funny because, like, the joke for the past couple years, like, man, they really overflipped that house in Hilliard. Yeah. You know, because they would they would buy, like, the worst house. They would make it so nice and everything. But all of a sudden, when you have, like, a couple 100 people... A couple 100 house flip that do that, you're not over flipping it anymore because all the houses are like that now.

Dan Austin: [19:39] Yeah. So it's gentrifying at some point. Right?

Mike DeHaan: [19:41] Yeah. Exactly.

Dan Austin: [19:42] So slow city to gentrify even though we're trying.

Mike DeHaan: [19:45] It's... Yeah. It's getting there.

Dan Austin: [19:46] There's some areas that you're just like,

Mike DeHaan: [19:48] dang it. I know. I know. But, I mean, like, at at the same time, like you said, we don't really have any bad areas in town. Like, not really. No. Areas that are, like crazy. And, like, aren't that awesome. Have major petty crime. We don't have, like, ghettos here.

Dan Austin: [20:00] No. No. We're pretty we're pretty, like, even keel. Right? We don't have a majorly awesome, crazy downtown. We also don't have crazy nasty ghettos.

Mike DeHaan: [20:08] Exactly. Yeah. So Could be worse. Anyways, so going into the end of the year here, we have a couple of announcements that I wanna talk about regarding collecting keys and kind of the direction of the show and the direction of our instant investor program. So first off, time of this episode coming out, this will be November 30 when this is released. So starting next week, the first week of December, we are going to be shifting our format to being a three episode a week format. So as you guys have known, if you've been listening for a while, we've had our Wednesday episodes that we've alternated kind of between the Mike and Dan show and our interviews, and then we've had our Friday folks episodes. So starting next week, we are going to have our interviews on Mondays. Every Wednesday is going to be the Mike and Dan show, which I'm sure a lot of you will be pleased about because those are typically our best performing shows anyway. Mhmm. I guess people just like to hear us talk about bullshit. I don't know why.

Dan Austin: [21:05] But We can do that. I can do more of that.

Mike DeHaan: [21:08] Yeah. Right? So so Mondays will be interviews with key people that we find, and we have some really killer ones coming up too that I'm super, super excited

Dan Austin: [21:16] about. Me too. We have some great interviews.

Mike DeHaan: [21:18] Yep. So Wednesday will be Mike and Dan show, and then Fridays will continue to be the Friday focus episodes. And if you guys ever have any topics that you want us to talk about on those two, please shoot us a DM on Instagram. I'm at Mike underscore Invest Dan's at Investor Man Dan. And there there's one of the weekly struggles that we have, honestly, is coming up with topics. And, usually, it's kinda like what we have in our mind at the time or something that working on the business. But if you guys have stuff that you want us to discuss, like, we would love to do a show about that. So Absolutely.

Dan Austin: [21:46] Yeah. Another thing I've been thinking about, like, if somebody could figure out how to get me an audio machine so I can push, like, sound effects, I would love that. That's, like, something with our new platform I'd love to have. You know, like a, you know, something really cool. Like a soundboard? Yeah. Yeah. Sound... Is that what it's called? Soundboard? I want some sound so I can add some sound effects to anything Mike says that's really stupid or good.

Mike DeHaan: [22:07] Yeah. Well, I feel I feel like to to start something will be good as you should learn how to do the the Friday focuses with your proper mic because the producers keep complaining that it's always with your your laptop mic. So that's it. Don't do it.

Dan Austin: [22:18] I set the settings to show my mic. I'm sorry. I don't know.

Mike DeHaan: [22:22] I mean, was the work... The work spot on this platform, but the one that we record those shows on, it always... The guy's always like, yeah. Had to get rid of a bunch of, like, background noise because it sound like a laptop mic. I'm like, I don't know. I was like, Dan had nine minutes today, and he made an eight and a half an episode. So Exactly. Was so true.

Dan Austin: [22:40] I try. I try, guys. I really do.

Mike DeHaan: [22:42] Yeah. So, anyway, so that'll start going... Coming forward here next week and going into the future that way. So you can look forward to more content from us in that route. Then online, we are having a complete overhaul. We've had our developer and our copywriter and all these other people working pretty extensively for the last two months building out our new platform. So cool. It's so cool. Yeah. I'm super pumped about it. So the collectingkeyspodcast.com is shifting over just to a new website. And along with that, we are going to be adding a bunch of free educational content for you guys up there. So, basically, you know, all of the different educational portions that we talk about on the Mike and Dan shows, if there's ever any of those that you wanna relisten to or there is specific categories of stuff that you want us to talk about, like, credit rental property, those sort of things, Those are all being cut down, edited, and optimized, and will be available for you for free at the new collecting keys. I guess it will just be collectingkeyspodcast.com/education, and that'll all be available for you up there for better viewing. Also, with the instant investor program, which is our group mastermind program, we have a handful of changes coming up.

Mike DeHaan: [23:51] So I'll just run through them really quickly. A couple different things. So the... First and foremost, we are creating a beginner program, which we'll be releasing at the beginning of the year. So you cannot sign up for it yet, but it is the instant investor jump start program. This has been highly demanded by a lot of people that have inquired about the instant investor program. Excited about that one.

Dan Austin: [24:10] Something we've talked about for a long time too.

Mike DeHaan: [24:12] Yeah. We've talked about it for a long time. It's something that, you know, I guess we didn't necessarily have on the radar when we first started this, but we've had so many people reach out that are like, I wanna do what you're doing. I'm just honestly not that educated in real estate principles in general yet. What should I do? And we said to them, like, honestly, the main program probably isn't right for you yet because we don't really teach a lot of that in there, but we created this program. So you can go and you can preorder it. It is going to be listing for $199 when it goes live beginning of the year. If you go and you preorder it, you'll be able to get it for $99 if you get it over the next little bit. And it is going to be... I'm not sure how many hours of video yet because we stopped yet to record it. That's why I need to preorder it. Yes. Yeah. Preorder it. But it is going to be soup to nuts, real estate principles, how to get started investing, you know, general sort of ways to figure out what proper investing methodology is right for you, and all of it with sort of our viewpoint and our spin on, like, how we would do it if we were starting over from the beginner and stuff that we wish we had known. But it will be realistically probably five to eight hours worth of material to get you a complete kick start into real estate and to get you ready to join the main instant investor program, which is now being changed to the instant investor 7 figure investor program. This is the program that we've been running for the last little bit. You've heard our ads and all that sort of stuff about, but the 7 figure investor program is now... I guess, to be more transparent with it is for people that are looking to become serious investors, make real legitimate money, make...

Mike DeHaan: [25:43] You know, build a real portfolio and want to take their investing very seriously. And it is our complete step by step guide and blueprint for how we've built our business, how we manage our business. It is our mastermind community. It includes coaching directly from Dan and myself. And now if you are interested in that, know, sign up for that instead of having to, you know, us pushing you to, like, the lead page where you have to go and book a call after the whole sales thing, blah blah blah, you can now sign up for that instantly, and you can jump right in without having to go through the whole process. So if you go to instantinvestorprogram.com/store, you can see the jump start program and 7 figure investor program. And the 7 figure investor program is listed now. It is a $1,000 entry fee, one time, And for everyone that signs up between now and the end of the year, so basically between December 1 when this goes live and January 1, it is... Instead of being $500 a month, it is $250 a month for life. So, basically, yeah, it's lifetime membership for half the price, right, once you once you sign up. And that is only

Dan Austin: [26:46] the soundboard. I need I need the sound of when you kinda click, you know, jingling around.

Mike DeHaan: [26:50] Or what what is what is it? You know?

Dan Austin: [26:53] That's the one right there. What the hell? Yes.

Mike DeHaan: [26:58] That one, dude. From... What was that show? That was a Comedy Central show. They used to do that. They would, like, say something that was sick, they would go. What was it called? Workaholics.

Dan Austin: [27:06] That was

Mike DeHaan: [27:07] a show.

Dan Austin: [27:07] I love that show.

Mike DeHaan: [27:08] But... Yeah. So $1,000 entry fee plus $2.50 a month for life to join the community. And that two fifty a month is only until January 1. After that, it is increasing to $500 per month, and that will not be changing for the foreseeable future. So if you have an interest, go and sign up for that. If you do have any questions too, you can go and, you know, hit us up on Instagram. We're happy to set up a time to chat with you as well. And then on top of that, we actually have... You know, if there wasn't enough for you, we have a couple more programs.

Dan Austin: [27:39] There's more.

Mike DeHaan: [27:39] There's more. There's more. We have a couple more programs which are also by popular demand, which are a pro service, which basically is if you wanna be part of the 7 figure instant investor program, but you are a busy professional and you don't actually wanna do a lot of the back end work or build all the systems, we will do that for you. And that's an extra cost, but that sort of... That cost is dependent on sort of your situation and what you're looking to do or sort of like where you're at. So you got... You have to inquire with us on that one. And then we are actively seeking new entrance into our partnership program, which we have touched on, I think, little bit loosely over the last little bit. But we have a series of partners that we work with in different markets, we and are actively looking to grow into different markets with different key partners. So if you are someone that you think you'd be good partnership material for us, you want to work with us to find deals in your market using our methods, our sales staff. We'll run the sales staff. We'll do everything. You just have to basically be willing to be a key buyer or help us find key buyers, then you can check out our partnership program as well. So all that can be found at... Will be either instantinvestorprogram.com/store or collectingkeyspodcast.com/store.

Mike DeHaan: [28:51] They'll both take you to the same page, and you can go from there. So complete overhaul of everything. So whether you're new and you want the jump start program, you're ready to get serious, and you want to start learning from us, but you don't wanna do the sales pitch, you can go sign up for the 7 figure investor program. And then our two primo programs are available on there as well. And then if you're like, fuck you guys. I don't wanna give you guys any money. You can also go check out our free education educational material now for free.

Dan Austin: [29:16] So It's actually... It's like a private platform. It's kinda cool. It's it's done very nicely. Like, something that we can be proud of. Like, you could go there and actually... It's it's just kind of full. Like, here. Start here. Go here. Like you said, if you wanna be a partner with us, we have that program, which we've been doing that for a while, actually. We're just now actually, like, advertising it because we are looking to expand that quite a bit. And so it's been a really fun... The partnership has been really fun for us too because we get to meet other investors in other markets, and that's been really cool. But it's just like a cool... Like, that's not where we... I don't think when we started out, we aim to get to where we're at now with the whole platform, but it's like a proper... I keep saying this, but it's a proper platform where you can kinda self serve. It's really cool.

Mike DeHaan: [29:54] It is. Yeah. And I will say if any of you guys have been following us listening along for a while, it is us graduating from kind of ragtag me putting things together alongside putting together, like running our real estate investing business to now we have a team of professionals that have helped build this out. It is put together. It is clear and concise, easy to use, and ready for, you know, people to start jumping in.

Dan Austin: [30:16] There's enough demand, and we give the people what the

Mike DeHaan: [30:18] people want. Exact... Yeah. Exactly. That actually has been, like, the one big big thing of feedback is people that have joined in. It's like, the onboarding and stuff was kinda weird or, like, it wasn't totally clear about all those sort of things. But, you know, you kind of have to take mass... Massive action and figure stuff out as you go. So that's kinda what we've done. So, anyways, guys, go and check out the new collectingkeyspodcast.com. I keep saying the new. That's not in it. Just collecting keys Yeah. Yeah. Just collectingkeyspodcast.com to see how it's all newly laid out. Click and keep podcast.com/stores. You'll offer new offerings. And then two, if you guys wanted just like a general free offering, if you go to collectingkeyspodcast.com, you can get our free five step guide to start generating off market leads, which will give you the super basic gist as well as how we get going. So, anyways, tons of stuff, all new platform, new podcast schedule, whole bunch of new stuff going into the end of the year and to kick off 2023. So lots of great things going on.

Dan Austin: [31:15] I love it.

Mike DeHaan: [31:15] Awesome. We had an educational topic to talk about, but I think we'll just save it for recording this next week, because I still think it'll be super applicable. And, yeah, I mean, aside from that, maybe this is just where we cut it down. I think we're in

Dan Austin: [31:27] a good spot. Are we in a good spot? I think good. Feels good

Mike DeHaan: [31:30] to me.

Dan Austin: [31:31] Yeah. Let's get the soundboard hooked up and go to instantinvestorprogram.com.

Mike DeHaan: [31:35] Yeah. Yeah. There we go. So awesome, guys. Well, thanks so much for listening. We greatly appreciate you all that have come along with us on this journey so far, and hopefully, we'll continue to do so in the future. Go and check out collectingkeyspodcast.com to sort of see all the new offerings that we are releasing. And definitely make sure you subscribe so you do not miss out on all of the new episodes that we will have. I guess the new episode format that we're gonna have coming out starting next week. Three episodes a week. Interviews Monday, My Financial Wednesday, and Friday folks on Friday. And, yeah, thanks thanks for listening, guys, and talk you guys next week.

Speaker 2: [32:09] Thanks for listening. Please leave us a review on iTunes or wherever you get your podcasts, and check us out at collectingkeyspodcast.com for tips and guides on starting your own real estate investment and wholesaling business.