Our Business Week From Hell: Deceptive Sellers, Picky Buyers, and Market Shifts

Mike DeHaan: [0:00] Real quick before we jump into the show, we created the collecting keys podcast to be a real estate investing podcast that is created by real estate operators for real estate operators. And we want operators everywhere to know what it really takes these days to be successful in this business rather than all the fluff that all the other content creators and podcasters out there make. And so one of the challenges with this is that it's challenging to grow because most operators are too busy out there working. Right? And they aren't always learning or actively seeking new learning material. And so if you could please share this show with any fellow operators you know. You know, you can text it to them. You can post it on your socials. You can leave us a good review that you then share somewhere. That would be amazing. But really, whatever, it really helps us continue to get excited to create content, and it will also help you because everyone that you expose us to will get better as a real estate operator and close more deals. So if you could do that for us, it would really need a ton. And otherwise, we appreciate you guys, and let's get into this episode.

Dan Austin: [1:04] We've had probably in the last three weeks, five or six sellers that are, you know, very deceptive and clearly lying to us about things. Hey there. Welcome back to another episode of the collecting keys real estate investing podcast, the real estate investing podcast for real investors where we teach you how to make massive income, not just passive income. Today is gonna be a little bit of a unique episode because instead of three of us, my cohosts Mike and Dylan are off. Dylan's got baby duty, something to do with his child, and Mike is out, at a GoBundance event this week. So it's just me, I figured, you know what? Hey, I will jump on and make this solo episode, make it work for you people, and we'll see if it works out. I think we all do a standard episode here. I'm gonna go through some of the typical things we would talk about. You're just gonna get only from my perspective. No snarky comments from Mike, and no highly educated comments coming from Dylan. It's gonna be probably something in the middle. You're probably gonna get a shit ton of snarky comments from me, and they're gonna be super uneducated. I hope you enjoy this. I thought actually it would be kind of fun after I I do just a little update on our business, because boy our business has been hell this week, just to go through some trends and maybe a few of my predictions now that we've seen Trump get elected, and we're starting to see kind of the baton getting passed from the Biden administration, the Trump administration.

Dan Austin: [2:31] We talked a little about this a couple weeks ago, and how that's maybe going to affect the real estate market, and maybe the market, you know, at a macro level. Before we do that, let's talk about like what's going on in our business, because I could tell you a lot of stories. It's been kinda wild this week. Actually, I'm laughing just thinking about some of the bullshit out there. I'll tell you what, sellers are getting very silly, and buyers be bitching a little bit this week. It's been tough, you know? We've got quite a few deals in escrow. One of them's just been it's been interesting. So in a virtual market of ours, well, we're not usually doing a ton of deals, but, you know, we got this one, and it's actually a great deal. We're gonna have a nice little wholesale fee on it. We have the buyer lined up and all that. The seller was about to go into foreclosure. So we got it under contract, and the seller was about to go into foreclosure. We talked, I think, about this a little bit last week. And so we fronted $6,000 which was, you know, just a portion of her 20 something thousand dollar tax bill that's due, just to get it out of auction, so that the county did not sell it like this past Tuesday.

Dan Austin: [3:37] So helped her out big time because she was about to lose probably 200, well, dollars 200,000. That's how much equity, after all of her sales costs and all that stuff, maybe a little bit more, she would have actually walked away with, but they would have taken that. And so we hurried up, finding out that this auction was actually scheduled sooner than we thought, and that there was no way we could get out of it being auctioned unless the $6,000 balance was paid. So I paid it. It was kind of a rush, got it out there, and then I called the seller, and I let her know. She didn't say thank you. She wasn't like anything she actually was just like, I need a receipt that you paid my taxes. She started getting kinda like a little bit silly on the other line and being a little bit rude. And so, know, I'd obviously, she was a little bit fearful of of, you know, losing her house, so I I get it from that perspective. So then I asked her, you know, hey, you know, we're supposed to close here tomorrow. Are are you ready to to move out? And she just was like, I'm not even packed. I've never sold a house before. I didn't know I had to move out. And so she starts going down this whole spiral of like, you know, woe is me.

Dan Austin: [4:43] I didn't know I was supposed to move out. I knew I was selling the house, but I don't have any money. I can't do anything. And so getting really kind of weird and backpedaling, of course now she doesn't really care to talk that her taxes are paid, and she's got a couple months before she goes back into foreclosure, which is kind of strange, kind of odd, right? And so she is really being a pain in the ass to deal with. We've got another one, we're dealing with a piece of land, which is a good piece of land we've talked about on the show. I did a Friday Focus on this, and we were just trying to get a well inspection done on it, because it's just five acres of raw land with a well on it, and the seller told us, hey, you know, up front he said, hey, there's a well on it, I just don't know if it works. It's like, okay, cool. Well, we just need to take a look at it. So we did, and turns out it doesn't work, and then it's gonna cost quite a bit of money just to get it tested because they gotta put a whole new pump in it. And the seller is like, hey, told you that the well, I didn't know if it worked or not, so you guys should just buy it as is. And it's like, sure, we do have an inspection contingency. We we do have due diligence, and he's pushing back quite a bit on us wanting to like get a well installed, and it's about $7,500. And here's the actual grand scheme of it. So the seller thinks that he said, well, my dad told me that the well would pump 20 or 30 gallons per hour or whatever.

Dan Austin: [6:04] The well guy that goes out there, he's like, yeah, I've worked on all these, the neighboring lots. Nobody out here gets more than one or two gallons a minute. They're all they all run dry. Sometimes of the year, it's a really bad well. This is just part of the the area, terrible for wells. So I got that guy, the expert on wells, telling me this, and then some dude whose dad bought this land like in the seventies or eighties, and they've just kind of owned it and sat on it with this well working or not working for however many decades, and they've had trouble selling it in the past. So you hear all that backstory, and then you have the experts that are saying, it's probably not gonna work. And then if it does, you only get a little bit of water out of you gotta spend $30,000 minimum getting a tank set up and a pump set up and all this other fancy equipment just to have it. And so, you know, I'm just pausing at that saying, well, that's the case, I definitely don't want to maybe buy this. I don't know. I mean, it probably still honestly works out. It's just less of a fun deal to do. It's less of a 6 figure deal and more of a, you know, $3,040,000 dollar deal, which is fine. I'm not gonna complain about that. But either way, I wanna know that this well has some future.

Dan Austin: [7:07] And so I, you know, went back to the seller and and just said, hey, would you mind paying for it? You know, it's gonna be $7,500, or just $3,000 to do the full well test, meaning because they have to put a new pump down there, and then they just pull the pump back out and then keep it. So he's like, well, why don't you guys pay for it? And then if it doesn't work, I'll reimburse you the money, and if it works, you just buy the land. And I get it from his perspective, it's a great deal. But like how how am I gonna get my money back from this guy? Right? Like what if it doesn't work? And he's like, I don't give a shit, and maybe I can go and put a lien on the property, but he's been sitting on it for forty years. Who's gonna say he doesn't sit on it for another forty years because he's just a spiteful old dude that doesn't really care about our $7? And so I'm not super excited to write the check on this. It's a good deal, it feels like a good deal still, and so I know we're gonna work through it with a guy, but I don't wanna talk about the deal being dead because there's still quite a bit of meat on the bone here. We'll make it work. It's just kind of frustrating at where the seller's at because just dealing with a lot of sellers that are hiding things lately, you know, no inspections, you gotta close in ten days, then you find out that there's dead bodies that, you know, are gonna be discovered under the foundation or something like that. Like, that's not real.

Dan Austin: [8:22] I'm just giving an example. But that's we've had probably in the last three weeks, five or six sellers that are, you know, very deceptive and clearly lying to us about things, and we uncover it because they're not that smart, and this is part of our jobs as investors. We do take risk, but it's calculated risk. Right? So, yeah, those are just a couple examples. And then on the buyer side of things, someone will be bitching about stuff, And it's okay, that's the name of the game, and they have to be making sure that they're getting a good deal. But I've talked about a lot with our scale community, just the different buyers that we're working with in the different cycles. So like a lot of our go to flippers right now just aren't looking at the deals that we have, you know, picking some off here and there. But for the most part, a lot of it's new people are onesie twosie buyers where we sell them one or two deals, and that's it. They're not like our real go to, like, people that we'd call every single time. But with those buyers comes problems, and those problems include things like we have a deal I'm wholesaling right now, and it's an agent who brought a buyer, which been a great resource for us in the past, no complaints there. He said, hey, would you accept a sight unseen offer on this thing? And I was like, yeah, sure. So we we say, yep, this is how it works. $5,000 earnest money tomorrow, blah blah blah blah blah.

Dan Austin: [9:37] This is on Friday. And so anyways, I'm trying to follow-up with this agent over the weekend. Hey, what's going on? Is your buyer gonna sign this assignment contract? Whatever. And mind you, I need to get an inspection scheduled if we're going to do a walk through, because we only had until the following Friday to do a walk through. The seller's adamant like, by that Friday your inspection contingency is up, I can get you guys in there one time, that's it. If there's tenants in there, and so I was kind of like, we gotta do a forty eight hour notice, we can't just show up to this house. So I'm like, Monday, if I find out that this guy doesn't want to buy it side of the scene, I've gotta post that notice, and then Wednesday maybe do the walkthrough, which then only gives me Thursday and Friday before we have to go hard with our earnest money on this thing. So I'm just kind of up against the clock a little bit on it. And anyways, so the this guy, this agent, with the sight unseen offer, like super confident, comes in, and and Sunday Sunday night, it finally gets back. He's like, yeah, I think we'd like to do an inspection. I'm like, but you said your offer was sight unseen, and he basically was just like, yeah, we changed our mind. I was like, are you kidding me? Wasted two days of my time.

Dan Austin: [10:40] Right? And then I was like, okay, the inspection is, you know, whatever day, 01:00. The dude doesn't even show up for the inspection, and then texts me the next day and asks, hey, can we still go look at that property? And I'm like, oh my gosh, like, are you kidding me, man? Like, what is going on? So don't let people waste your time. He's wasting my time. So now when he's on my buyers list, he kinda goes to the bottom. Like, if he makes an offer on another property, I'm just gonna ignore it unless it's like the bottom of the barrel offer, and I don't have anybody else to go to, right? I'm not gonna just tell him to piss off, because I mean, you very well may be a great buyer, and you gotta keep all your options open, but nonetheless, it's still frustrating, and so he's gonna be like, not even my third option, but maybe like my tenth option of people I accept offers from.

Mike DeHaan: [11:25] If you can give me about thirty six seconds, I just wanna share our SCALE community with you. So SCALE stands for scaling cash flow, assets, leverage, and equity. It is our exclusive community for real estate operators looking to take this game seriously. In the community, you'd hang out with myself, Dan, Dylan, and other operators around the country who are all working to be the best in their market. We really did a survey, and every single member said that the community had directly contributed to major growth they experienced in the last twelve months. On top of that, you get all of our processes around marketing, sales, building a CRM, and you even get preferred relationships with Lowe's and different financing slash lenders so that you can get your deals 100% paid for without a headache. So if that sounds like something you're interested in, go to collectingkeys.com/scale. Let's see if you're a good fit.

Dan Austin: [12:09] So I had that, and on that same deal, actually, I had another guy. Same thing. He's like, yeah. I really like it. I would love to make an offer. Let's go. And Tim and I started talking, and he just talked himself like out of it, guess. I don't know why because he went from, you know, texting me an offer, like I'm ready to roll to me, calling him, and then within that time period changing his mind before I even said a word. It's kind of funny actually. But he wanted twelve months of rent rolls from the tenants in there, and I gave him the leases, which I think is a fair thing to do. They're month to month leases. I told him, hey, they're good standing tenants. There's not an issue with them. Here's their leases. We can issue ninety day notices before you buy it, so then, you know, they have ninety days. And I'm like, we might even be able to work with the seller to do like a little bit longer close, or I can help support you with some cash for keys. Like, I'll help you negotiate the cash for keys and take some of that out of my fee. You know what I mean? Like, I'm really trying to make this guy like going over the top to help him out. And then he's like, yeah, I don't think I can make that work, but maybe I need to see twelve months of rent rolls because I need this seller to prove to me, you know, that these tenants are good tenants.

Dan Austin: [13:14] And I'm like, man, this is off market real estate. Like, you're in the wrong game if you're asking for twelve months of rent rolls, you're gonna scrutinize things, especially when you have like a limited timeline with wholesale deals. And so that's the challenge with these one z, two z random buyers, is they're actually not off market buyers. They're retail buyers that think they can find a good deal off market because they connected with some wholesaler in a Facebook group, and they think they know what they're doing. And when you really start talking to a lot of them, they haven't done very many deals, and there's nothing wrong with that as long as they're coachable, but they have listened to, you know, bigger pockets for ten years, and they think that that's the golden rule of how you do a deal, and it's so far from the truth. So, buyers be bitching, sellers be silly. That's this week. Other than that, business is going well. We just got another line of credit approved, which is really important. If you guys haven't done that, just go get one. Like, if your bank at normally says no, go to another bank, which is exactly what I did, and within twelve well, guess one day, you know, one and a half business days we got a $50,000 line of credit approved, go and do that at a couple banks, you can get a couple lines of credit. Now they're gonna ask for 50,000, it's usually stated, the information, and we had to give him some, you know, personal information. He pulled like our credit and stuff like that, but like get that, you can use that just as just money to flex into your business, you know, a little bit of a business credit, so to speak, that you can, if you need to just front some cash, or maybe you don't wanna deplete your cash reserves, so you use that line of credit where you only have to pay interest only on it during the time it's drawn out. It's just so valuable. So, we got another one of those approved, get a little bit more flexible credit, because the more flexible credit you can have, the the better.

Dan Austin: [14:56] So highly recommend that. Okay. So let's dive into some of the things, you know, maybe a compressed summary too of a lot of the stuff we've talked about when it comes to the market and what we're kind of predicting and thinking what's going on in real estate. I was doing a little bit of research this week and just kind looking at the news and and some of the media, because it's been pretty flat, you know, the last like twelve months because it's been just like a boring real estate market. But with the election, there's a lot of sparks. There's a lot of information going out, especially anytime that there's a transition between, you know, administrations. I'm not gonna say it's like excitement, but there's like a lot of like things moving. And whether you're a democrat or a republican president, your agenda fundamentally is to make the economy grow. That's what you will be remembered by. But the the thing that I I think about, you know, just going in here is like what are beyond what the president can do, because the president can only do so much. Right? Like, Trump technically can't adjust the interest rates even though he says he will. The Fed, Jerome Powell, is not he doesn't report to the president. They're a completely separate entity for good reason. Right?

Dan Austin: [16:02] We don't want, you know, political leaders trying to run the economy for their benefit, especially because we run-in two and four year cycles. And with that being said, specifically with the interest rates, they're gonna stay high. I think cash buyers are gonna still have all the power in this market, because they're not gonna have to worry about interest rates, and people are gonna like that, like, quick cash. Hey, there's no there's no financing addendums or anything like that. It's just a sure thing. So I do think that'll that'll be a big thing. I think that there'll be more opportunity for regular buyers to get in here if they have like a creative way of doing deals. You know, I'm working with a buyer on one of the deals Mike and I are selling, and she's getting I mean, she's a basic buyer. She's not she's not an investor in any form or fashion, but she's like willing to be open and get creative. She's asked me about seller finance. She's asked me about like how could we do this if I have a loan, and she doesn't know the terms subject to or anything like that, but she's like, how could we make this work? Because I know this here would help over here. This would help over here. Will the deal work with her? I don't know, but I'm just it's interesting to see a basic we didn't even list this thing.

Dan Austin: [17:11] I just put the signpost to the yard, and she drove by and saw it. She wants to buy it, you know, as a primary resident. So that's how buyers are kind of trying to get creative. She can only afford so much. It's not like she's this like, it's a buying frenzy, it's because buyers can only afford so much. So I think there'll still be some gaps and openings for us as investors to sell properties that way, because, know, retail buyers are kind of opening up. I don't think that's gonna be a big part of it. That's gonna still be one or 2% tops of your transactions, but just something to predict that I see. Something that's interesting, home prices, what are they gonna do? The challenge with home prices are they're tied to not just what's going on in the economy, but the supply. And whether you like it or not, the big hedges, they're in there, the big institutional funds are in single family residential. They've kind of fled commercial. It's not as sexy for them right now. And for the past several years they've been in this, they're able to control it. So we think about like the people that are buying houses from us, you know, Opendoor, these big hedge funds that buy, you know, off market.

Dan Austin: [18:14] But more so than that, there's these big giant funds that are behind these giant national homebuilders like the D. R. Hortons, the Lennars, you know, pick whatever other national, but there's about five of them that are really big, and then there's a ton of them beyond that. Plus, there's really strong regional developers. Like here in Spokane, we have two or three really, really strong regional developers that know the market even better than the national developers, so they have a strong foothold, but then you have the national developers come in here just step on everything. Right? But my point bringing that up is they're not stupid. They've got billions of dollars behind them. They've got these these quants, these analysts back behind closed doors slamming their fingers on computers, making numbers and charts to saying, hey, we shouldn't build this many houses. We should not maybe building the most houses isn't the best. Maybe we need to restrict the supply a little bit, and then that will keep our profit margins up high on the ones that we do build. And that's exactly what they're doing. So that's where I say price will stay high solely because not only there's these home builders that are restricting the supply, and we're a couple million units, you know, behind on supply, but also everybody that locked in these cheap low interest, they're just not ready to give those up. I do think that those will start breaking a little bit because life changes, and over several year periods you can only withstand a certain amount of pressure and sustainment where your interest rate is not what matters anymore. Something else in life is taking effect, whether that's a job, a death of the family, financial insecurity over over several years, lots of reasons.

Dan Austin: [19:50] Those will start breaking loose, but for the most part, there's still gonna be a vast majority of, like, these middle aged millennials that are like, I wanna move, I don't need to move, my house is pretty dialed in, my interest rate's low. And whether it's true or not, people think their interest rate is super meaningful when in reality, yeah, it fluctuates with the market. Just like, you know, what is a dollar worth in the nineteen eighties versus a dollar worth now, right? It fluctuates with whatever is going on with with a given market interest rates and inflation. So anyways, I I do think prices will stay high, but but that doesn't mean there's gonna be a lot of growth. It just means there's not gonna be like a big dip, and people aren't gonna just start seeing these trends to continue down, even though I think the market will be a little bit tough on the resell side. I do think there's a niche, and we're already experiencing it now, and that's in affordable housing. So we're seeing it now. If you're flipping houses, if you're wholesaling houses, the ones that fit in your residential buy box, it's like great. It's bread and butter in the city or in the suburban area or whatever, and it is ready like boom, just fix it up and sell it under median home price, which would be, I.

Dan Austin: [20:57] E, the affordable category, those, I think, we're gonna see a lot of growth there. We're gonna continue to see people building affordable housing, whatever that looks like. I can see some grants. I can see some some builders, like national builders starting to see that, and you can kinda see that with these these home builders where they just go and put up these cracker box type houses by the, you know, by the dozens, all look the same, all super ugly. They're finding that that's the price point that sells. You know, the big baby boomer luxury house, the McMansions really aren't in trend, and you I mean, I think we can better if you're listening, we can all believe that, or feel that, or see that. But also just the need, right? Whether we see it from our perspective or someone else's perspective, there is a widening wealth gap that continues to happen, and that's just I think I personally believe it's just an economic cycle we're in because it's not the first time we've ever had a wealth gap. I mean, you think about some of the times back in the early nineteen hundreds, like there were some massive, massive wealth gaps, probably bigger than we have today if you were actually doing the math. But things have to correct before, like, the masses can't afford everything.

Dan Austin: [22:03] If there's too much wealth accumulation on one end, somehow you have to create opportunity for those that don't have it. Right? Because eventually, with compound and curves that go straight up, eventually, the people on the bottom of that curve, while we're going straight up in asymptotic shapes, like, just get too far away. And so I think we're in this spot where affordable housing is going to continue to be a really in really high demand, because there are just like the the lower end of our society in America just isn't able to keep up as much. It's not an epidemic, but it's certainly an opportunity for people that are in the affordable housing space. The good thing is, I think with all this to be said, there is gonna be more stress in the system. When we talk about that affordability issue, that's going to continue to ramp up because you're having natural disasters and just insurance companies not be able to keep up with inflation. The combination of natural disasters and inflation are driving insurance rates up. On top of that, you have governments, local governments that are increasing property taxes across the board for most places at such a fast rate. Mind you, the frustrating thing about this is, or what I think is frustrating, a lot of the times these are also in areas where the government's saying you're not allowed to raise your rent much higher.

Dan Austin: [23:24] Meanwhile, they're like 25% tax hike, 50% tax hike over three years on your property taxes. Like, well, if I can't increase rent by that much, then how can you increase your property taxes? And the real unfortunate thing is in some of these areas, there's, you know, elderly people getting priced out of their homes. Know, maybe they've had their home paid off, and they're just living on a shoestring budget off of Social Security. They did all the right things their whole life, and their property taxes year over year have gone up, you know, $300 a month. That's a lot of money. If your social security check's $3,000 a month, and your property taxes went up 300, which is honestly, that's across the board and everywhere here in Spokane. That's a 10% of your living expenses gone to taxes. What does an elderly person who probably barely drives on the roads or uses the school system or anything, what are they getting out of it? They're not getting anything out of it. So it's kind of a shitty situation to be honest. But that is distressing them nonetheless, and so if you're an off market real estate operator like we are, it's not bad for you. These are the times, you know, the sun shines you have to make hay. With this distress, there becomes opportunity. And I think going back to with the transition of the presidents, you know, each president focuses on their own things, which you know, people get left behind, you know.

Dan Austin: [24:40] Let's be honest, there might be some government workers without jobs. Anyways, regardless, industries transition, industries change, and there could be distress localized to that. So look at your market, regardless if you like the president or the administration or not, what are they going to do that's going to create economic boom or economic stress in your market? And where there is that stress and distress, that's where we make our money because we're able to help people that have no other option. We're able to help them get out of their house. We're able to pay their taxes for them even if they slap us in the face and tell us to piss off. We're able to do that for them and ideally make a return on our investment, because that's what we invest in is real estate and distressed assets. You know, the interesting thing that I've been seeing as a trend, and this will be like my fifth and final trend, and I don't I don't know that this is a widespread trend, but I'm seeing it a lot within the groups of people. I've kind of fallen to this trend a little bit, but the groups of people that I talk to is development and construction, whether that's build to rent or build to sell. I've just seen a lot of that moving away from the flipping.

Dan Austin: [25:44] You know, people are still wholesaling. I know they're wholesaling. They're still actually flipping. But then getting into like, hey, I'm taking some of my profits instead of parking it into a used property, I'm just building new. I've talked about on the podcast, I saw a presentation from one of the, I don't know, it was the CEO of Origin Investments. They do big giant like 500 unit apartment builds across the nation. They syndicate for them talking about why would I buy a used asset, spend five years fixing it up when I could spend five years building a brand new one, and in that five years, my rents are still gonna be higher than that fixed up one because it's new, and at the end of the five years, mine trades for more money because it's brand new compared to your nineteen seventies remodeled one. Right? I think a lot of us have figured that out, and I think there's some great opportunity to continue to own rental properties. However, I think that there is also a great opportunity if you're at that cycle in your business and in your investing career, not everybody is, where you can take some of your profits from wholesaling, from flipping, and roll those into new developments. And where I've seen guys do this, they either have a little bit more cash, or they have a little bit more experience, and they're able to come across land, which we are too, that they can either entitle or just build on straight away, and they build a lot of their equity in at the acquisition of the land. It's not that they're just buying land, and building houses, and all of a sudden they're rich, right? It's all about that acquisition, just like when you're buying a flip, like just when you're buying any investment, it's like the where you make your money in the bot. So when you come across those opportunities of land, look at it maybe a little bit differently, and at least connect with somebody that is in a position to develop it. I am seeing that trend.

Dan Austin: [27:24] It feels like it's a micro trend with certain people, but it's nonetheless something that is going on in a lot of guys that made their money, you know, between even 2018 and 2024. That's what they're doing, and they're doing well with it. They're doing a little bit of mix of build to rent and build to sell. So it's something you can look forward to and see while you're looking at the trends. Tell me if you see that on your market. I know I'm certainly starting to see it here. I'm starting to see it with investors that I chat with and talk to. So anyways, those are a couple trends, five trends to be exact that I went over that I have made a little bit of predictions on what's going on in the market based on some good media stuff that I've been pulling down. I think there's, again, presidency, there's some transition, so take this as an opportunity. Anytime that there's a pivot or transition, there's some slack or there's some opportunity given, you know, we know Trump is gonna put back into place, we don't know, but I'm sure he is going to be some real estate incentives like the accelerated depreciation, which can help out for those of you that have tax bills that you need to to depreciate off, and acquiring some real estate would be helpful for that.

Dan Austin: [28:29] But there'll probably be a litany of other things, good and bad, that will create opportunity for you as an investor if you're paying attention. So I'll close this out just to bring it back to where the beginning the episode was to do our lessons learned. What my lesson learned from this week was, you know, just keep your head up when you're out there. Even experienced guys like me, I've done hundreds of deals over several years. Sometimes you just get your teeth kicked in a little bit. You know, this week for me has certainly been that way, but one thing to know is don't ever let a deal die until it's actually dead. And even if you lose out on a few deals, guess what? You're gonna get more next week or more next month. So keep your head up out there. I know I've been grinding. It's been a tough week for me just to try to work through those wholesale deals, try to get those fees, try to get our flip on track, trying to get properties sold in our portfolio. And every time I turn a corner, it's a lot of friction. But working through that friction, keeping your head up, working your tail off is how you're going to win at this game, and longevity of the game is what matters. So, yeah, if you're having a bad week, just keep your head up. I'm out here.

Dan Austin: [29:33] I'm out here having a bad week with you, man. So happy investing. See y'all next week.

Mike DeHaan: [29:39] Thanks for listening, everyone. If you want more from us, you can shoot us a follow on Instagram. I am at Mike underscore Invest. Dan is at Investor Man. Dan and Dylan is at Dylan underscore Does underscore Deals. Choose a follow and send us a DM to let us know what you think of the show.