What We've Learned In 200 Episodes of Real Estate Business Growth

Mike DeHaan: [0:00] You are a real estate investor, you have probably heard all about subject to real estate. And also if you're a real estate investor, you probably don't really know a lot of the ins and outs of how to do subject to correctly. That is why we created our free subject to course. You can go and grab at collectingkeys.com/subtwo. We will go through all the ins and outs about how to do subject to correctly and legally so that you don't put yourself or the seller in a bad spot by kind of ignoring the small details. So if that's something that you're interested in, go to collectingkeys.com/subtwo, and you'll know exactly where to go from there. We had to get some of the liens waived by the state.

Dan Austin: [0:36] Yeah. We had to go through a whole process.

Mike DeHaan: [0:38] Yeah. They would only do it if we involved that crooked realtor that was gonna sell it to her friend at also a discounted price, but it just wasn't us.

Dan Austin: [0:46] Yeah, exactly. She's like, well, I got this person that wants to buy it at this exact price that I gave the appraisal value. I'm like, oh, you're no they're just a random client? No way.

Mike DeHaan: [0:56] But I remember it was so low still. It was like $2.65 or something.

Dan Austin: [1:00] It was low, but it was still high enough that it was like, that doesn't really make sense for

Mike DeHaan: [1:04] a professional investor. Totally.

Dan Austin: [1:06] It was basically that the agent, she was definitely trying to hook it up with a unrelated third party, which she also could have owned part of that business or whatever, as investors that wanted to come in, in that market, renovate it and keep it, because it would have made, it was in a great location, right, like in a resort town, like you could have Airbnb'd, especially at that time in the market, 2022, everybody's hard dick over Airbnb and Coeur D'Alene, Idaho, and so it made a ton of sense to, I was pumped for the deal. She ruined it, and then so my instinct was, I'm gonna make this thing crash and burn, that's exactly what I did.

Mike DeHaan: [1:44] What's going on, guys? Welcome to today's episode of the collecting keys real estate investing podcast. Apologize if I sound a little bit different today. I am in Austin, end of recording with my first, like, legit traveling mic setup. So it's a little bit different, but beats like, you know, the headphones and what a bunch of fucking amateurs use. Dorks. Yeah. And this is actually episode 200 as well of the Collecting Keys podcast. It's actually closer to like 300 because we do those Friday focuses, which for some reason we fucking decided to number differently. I But that was don't know why we did that back in the day. We My goal is to get that to 100 and then just switch over to

Dan Austin: [2:24] Can we do that? Yeah. Is that is that plausible?

Mike DeHaan: [2:27] We can do anything that we want. Oh goodness. Right? I mean

Dan Austin: [2:31] 200 though, that's a that's a serious feat.

Mike DeHaan: [2:33] I mean, yeah. Like, it's funny. We were talking about this before the show, and you're like, I feel like we should do something special for it. But my sort of view is that if things are truly just like time based, like they're inevitable, it's kinda silly to, I guess, like celebrate them or hype them up too much. Yeah. Because also technically, we could have done 200 episodes two hundred days if we wanted to. That's true. We could also do 200 episodes in ten years. Right?

Dan Austin: [2:57] I think though we could celebrate the fact that we did the exact same thing, which we've never done for long enough to get 200 episodes.

Mike DeHaan: [3:06] That actually is legitimately valid. I mean, because we changed

Dan Austin: [3:09] We haven't stuck with anything for two year. How long have we been doing this? Two years?

Mike DeHaan: [3:13] Over two years. Two and a half years. Two and half Twenty two. Two and a

Dan Austin: [3:17] half years. And I guess I can't say that we've done it the same way without changing.

Mike DeHaan: [3:20] October '21.

Dan Austin: [3:21] We started October '21? Yeah.

Mike DeHaan: [3:23] So that'd

Dan Austin: [3:23] be 2223. Oh, wow. Yeah.

Mike DeHaan: [3:25] We're Yeah.

Dan Austin: [3:26] We're rolling up on three years fast.

Mike DeHaan: [3:28] Mhmm. Okay. Yeah. Wow. So I mean, I guess that is is pretty cool. But I don't know, when it comes to people, when they like set goal or a milestone, I'm do 200 podcast episodes. I mean it's something that you just do every single week. I don't know, it's like if you or I were to make like a goal of like, I'm gonna work out four times a week. It's like you already freaking know you're gonna do it anyway. Yeah. It's like a pop out, so you can like go and jerk off whatever accountability.

Dan Austin: [3:53] I'm gonna wake up three hundred and sixty five days this year.

Mike DeHaan: [3:56] Some people failed that goal this year.

Dan Austin: [3:58] That's unfortunate. That is true. That's so unfortunate.

Mike DeHaan: [4:02] You know, in fact, there's a lot of people that have Yeah. That failed that goal, but I I will tell you what, every single person that failed, they were not anticipating failing

Dan Austin: [4:11] this year. That's true. Let's hope they were anyways. I mean, golly. Yeah. That's an unfortunate twist. Yeah. 200 episodes though. I hope the listeners can appreciate this. We need to do like a montage of like like just the shitty episodes and how it's evolved and then like get to where now, and then it's just now it's just us having a conversation and just talking shit about random things and not really any purpose at all at this point. Now not

Mike DeHaan: [4:36] like adding value or doing anything of substance. Speaking of which, I didn't even say what this show's about. Hello. I am Mike DeHaan here with my co host Dan Austin. It's the Collect and Key's real estate investing podcast where we teach you to make massive income and not just passive income with real estate investing business. There we go. There we go. Love the intro like I was supposed to. Two hundredth episode and I fuck it up. There we go.

Dan Austin: [4:58] Yeah. Right. And if you're just tuning in for the the first time, you missed a 199 awesome episodes. Sorry, don't know what to tell you. And going forward, I don't know what you're gonna get in the next 199.

Mike DeHaan: [5:09] Yeah. Totally. But it's funny going back to like the original ones. But one of the craziest thing with this whole thing is now that we do have like a budget around it.

Dan Austin: [5:17] Mhmm.

Mike DeHaan: [5:17] I mean, like our real estate business has done significantly better, obviously, that since 2021 and now is because the podcast itself is able to be monetized through the scale community and the other like educational stuff that we offer through this. We have like an actual team and we have people that are like doing additional stuff outside of just the show. What an idea I've had forever is to do these animated adventures, like animated webtoons where we take these funny stories people tell on the show about crazy real estate, whatever. You know, deals, sellers, tenants. And we turn those into a little two to three minute webtams, which you can catch on our YouTube channel. Our second one will be out by the time that this episode is released. And I was going through working with our animator and trying to find like which one to do for episode three. And he was like, I remember I've heard you guys talk about like this other story, just like in chatting with me. He's like, you have an episode about that? And it's a story about how we had a seller abducted from a closing, which is still a date like our craziest story. And I was like, I know we had an episode about that like a long time ago. Let me go check. It was like episode three. That's wild. That was so long ago.

Mike DeHaan: [6:25] I went and I looked and I I was like just trying to see like maybe there's like some good audio here that we could use for it.

Dan Austin: [6:31] Trash. Just trashed audio.

Mike DeHaan: [6:33] Unusable. Like it's literally me talking and trying to keep moving the conversation forward and you didn't have your internet confidence yet. So you're just sitting there going, uh-huh. And then the video like.

Dan Austin: [6:45] With the old mics too, this was just this echo y shit like Yeah.

Mike DeHaan: [6:49] It's terrible audio and like the video's awful. We're both for some reason wearing a white sweater. Like it's it's really freaking weird.

Dan Austin: [6:56] Oh, we have video footage of this?

Mike DeHaan: [6:57] Yeah, dude. Sucks. Yeah. Episode three, episode four. If you go out by Oh my god. Talks about the titles are seller was abducted from closing.

Dan Austin: [7:05] Such a great title. We should rerecord some of those early ones.

Mike DeHaan: [7:08] We need to, for sure. Just for the animated short clips because like Yeah. Some of those are are just crazy especially back end where we were like really in the weeds and we didn't have a massive team that was doing all of our dirty work for us.

Dan Austin: [7:21] Right. Well, and it's like when did we start doing the interviews? Is that like a little over a year ago?

Mike DeHaan: [7:26] Yeah. So it was almost a year into the podcast, right? So we did it with just us for the entirety of 2022 pretty much. And I wanna say it was like maybe August '22, we started doing the interviews and we would do them very selectively.

Dan Austin: [7:44] Yeah, right. It was definitely with like certain people, like we weren't like just like interviewing you know dorks or anything like that. I asked because we had like everything else was just us talking about crazy shit that happened in our day to day business, was a Like honestly, like we had a lot of stuff, but then we started bringing people on and I think it was, was it Kurt Booker that was the one like, like he was like a New Orleans investor, then you just start talking about like dead bodies and stuff like that, you're like, okay, this is getting to the next level of like Yeah. Crazy stuff that And people have had to deal then like shootings, I think we had somebody talking about their house getting like involved in like gang shootings drug Definitely. Turning into like a trap house and like it got wild there for a bit.

Mike DeHaan: [8:23] It did, yeah. I feel like Kurt was the first person that we had that was kind of, I would say, little bit loose like with how his real estate was performed. Was Colorful. Colorful, right? He was doing the direct seller thing kind of similar to how we were, and so he was getting into these weird situations. You know, we had a good run there where we had several people that were like that. Or we had Sterling Chapman back then, he was also down in Louisiana. I think he's in New Orleans though. He's in

Dan Austin: [8:50] No. He's in not Baton Rouge. It's one of those other ones.

Mike DeHaan: [8:54] One of those other cities where they're down there that are very far from Washington State. But he remember he was talking about the one where there was like a prostitute that was that he evicted that decided to put the hose from the kitchen sink into the HVAC system.

Dan Austin: [9:07] Oh, that's right.

Mike DeHaan: [9:08] And just like flood the entire property and ruin the HVAC system. He had some good ones.

Dan Austin: [9:14] It got so so weird from him.

Mike DeHaan: [9:15] Yeah. And then there was one guy we had. Still can't remember which episode it was. People have asked me about it several times where he he went to go meet the seller to get the property signed and the dude just came out and just punched him square in the face. Yeah. Do you remember who that was? Because people have

Dan Austin: [9:32] I don't.

Mike DeHaan: [9:33] Several people have been like, you should make an animated of that one. And I don't know who it was. I've gone through and I like nothing sparks my memory.

Dan Austin: [9:40] I can't find it. That's so funny though.

Mike DeHaan: [9:43] Dang it. We need

Dan Austin: [9:44] to have Worman go through and listen to every single episode till he hears that.

Mike DeHaan: [9:47] Right. That's

Dan Austin: [9:48] funny. Or the the paint cans. The paint can die I forget. Yeah. Gosh. The guy that his contract was shitting in the in the in the paint can.

Mike DeHaan: [9:57] Yeah. Yeah. Who was that one?

Dan Austin: [9:59] That was I could think of it, I can't remember either, you're right. Damn it. We need to get these subfaces to these episodes.

Mike DeHaan: [10:05] Like seriously. And I wish that Apple hadn't completely hamstringed their download algorithm because for a while I always wanted to like, yeah, these are like our top episodes of like the last 100. But the problem is is that Apple completely just changed how it like makes people download episodes, which I think is better for the industry because news slash guys

Dan Austin: [10:27] auto download is trash.

Mike DeHaan: [10:29] Yeah. If you see all these podcasts talk about all these downloads they get, realistically they probably get about 20% of those of actual listeners. Yeah. Like if they're lucky because what Apple used to do is when somebody subscribes to the show, they would make you download like a bunch a lot of you guys probably remember this, you had iTunes that did this and you're like, oh, I hated that. Well, they stopped doing that. So now it doesn't like inflate the the download numbers anymore for your subscribers, which is better because people can't like pretend like their show's way more successful than it is. But the thing that sucks is we have all these old episodes that are shown as

Dan Austin: [11:01] really high.

Mike DeHaan: [11:02] Yeah. They're like show higher listen and download count than they actually got. And so there's no way for us to ever actually get like a true leaderboard of like these are our most popular episodes. Because the analytics for podcasts.

Dan Austin: [11:13] You just have to listen to the next 200. Yeah, right. The next 200 will build up that credibility starting today

Mike DeHaan: [11:19] Yeah.

Dan Austin: [11:19] With the new episodes.

Mike DeHaan: [11:21] Yeah. The only thing I can go off of is like what the ones that people regularly ask me about, which there are like a couple different episodes that people bring up on a regular basis. You know, one of which was the becoming a cash flow master, which you wired, we actually just interviewed again. People always ask about that one. Yeah. People also always ask about the Eric Brewer episode about innovations because that's a that was just a really popular one for a while. And then Tara Fernandez did one of our own marketing systems a long time ago that was super popular. We actually released that one twice.

Dan Austin: [11:52] It was a while ago. Yeah.

Mike DeHaan: [11:54] Otherwise, know, it's just we've we've covered pretty much everything under the sun. Actually one of the things I've learned as you've been continuing to book more people for the show, is we wanna have like real estate operators. Yeah. Like people that are running real estate businesses and not just like syndicators or people that are so far removed from their company that they don't have a lot of substance to bring other than the fact that knee razors. Yeah. We're almost running out of people, dude. Like honestly.

Dan Austin: [12:21] Yeah. You and I are texting about this I think not too long ago and it's like some of it feels like it's just people that are Like a lot of the big podcasts anyways is just recycling the same guests over and over between each episode. The same guests, the same the same stuff on all the different platforms. So like if you listen to real estate specific podcasts, there's probably a handful that you listen to and the same guys and gals are going on the same ones, talking about the same thing and guess what? Their pitch hasn't changed from five years ago when they're actually doing stuff because they haven't done anything besides raise money or build a brand since then. Very few people do the thing, build the brand and it enhances the thing they're doing. Very few people. Yeah. They usually just stop and monetize at that point and then they don't do the thing anymore.

Mike DeHaan: [13:06] Well also, is exactly as people's businesses grow, lot of the interesting stuff is in the struggle. Arrives, Yeah. Right? I mean, this is us included. Like, we have way less interesting real estate stories than we used to have just because we're not in the weeds out there walking crack houses ourselves anymore.

Dan Austin: [13:22] Yeah. We have staff doing it and it's just, it's more systematized, it's more like day to day. Like, there's also stories that now happen that probably don't even like make it up to us sometimes.

Mike DeHaan: [13:31] Yeah. I mean there's probably a ton honestly.

Dan Austin: [13:33] Like well the conversations that happen in our business every day that we don't know what happens on the phone.

Mike DeHaan: [13:38] Yeah. I mean the guys are making hundreds of phone calls a day, there's gonna be a lot of those. Dude. You gotta do any big real estate or business influencer, they're gonna see the same thing. I mean Brandon Turner, dude, so many people are like, man, I would love to have Brandon Turner as a guest. I would love to have an extended conversation with him, but I think having him as a guest would be completely pointless. What's gonna do, come and tell the exact same stories that he's told on everything for like a decade? About how he used to be putting on roofs himself, and then he reached financial freedom, and then he sat on a for a month, and then he was so bored.

Dan Austin: [14:08] I know his life story by heart. I've heard it so many times. Not just his but other people.

Mike DeHaan: [14:12] Or even like Alex Tremozi now, you know he has great stories about all of his rise up and how he built gym launch and all that sort of thing. A lot of stuff was like three or four years ago. Yeah. Right, he exited that business in 2020.

Dan Austin: [14:24] Yep.

Mike DeHaan: [14:25] And that's why a lot of this stuff that he has now, it's very actionable business advice and a lot of it's like philosophically based. But I guarantee you that he doesn't have any like real gritty crazy business stories anymore just because it's he has a corporation. Yeah. Know, You it's a different sort of environment.

Dan Austin: [14:40] Yeah. It's a lot bigger, has a lot more people doing it, you know. This reminds me, I was today, just started it, I haven't dove into it completely yet, but Jamie Gruber on the Tribe of Millionaires podcast was interviewing Pace Morby. And he did, you know how he posted that, I think at the GoBundance Elite group, and like there's people that had commented like, ask him about this shit, and he's actually so far asking the exact questions that were posted.

Mike DeHaan: [15:03] Did he ask my questions?

Dan Austin: [15:04] Which ones were yours, remind me.

Mike DeHaan: [15:06] I think I asked him how he feels about telling people to commit fraud on a regular basis.

Dan Austin: [15:11] Okay, he hasn't asked that, but he asked about the the insurance question.

Mike DeHaan: [15:14] Oh, asked my question too actually.

Dan Austin: [15:15] Yeah, so that's where that's where he stopped, or that's where I stopped listening just because I had to record this podcast. But very fascinating, go and listen. If you're listening to this, you know how we feel about some of that stuff, or at least him in particular, hey, Smorby, and go listen to it and and let us know what you what you think, we'd love it, and I'll give you an analysis on the podcast of what he says to Jamie's, or what he responds to Jamie's questions, because some of it already is just like, come on bro, really? Like that's like the the top level answer without digging into the actual details, and if you don't know what to ask, you know, on those questions, like, you can easily breeze through the the questions. You know what mean? Without sounding like an idiot.

Mike DeHaan: [15:54] This is actually what we should do, and Ramon, who's our content guy's gonna love this, we should do like a video response to that where we go through question by question.

Dan Austin: [16:04] Play by play. Yeah. Let's do it.

Mike DeHaan: [16:07] And we actually talk about what you should legitimately do. Yeah. Or if he does have them as valid, we will fully acknowledge that. I'm not gonna do it be 100% a hater. Totally. I just wanna make it to be like an actual real conversation around the subject to transactions and not the simplified version they tend to issue.

Dan Austin: [16:22] Yeah, think that'd be great. That'd be fun too. Because you're right, like if there's like legit valid stuff, I'm on board with it. Totally. You know what I mean? But there's also just the second level and second layer things that are easy to breeze over when you're on a podcast or you're pitching it and nobody's asking you the hard question. It's easy to get sound bites too, and it's easy to like, he's like, go talk to my lawyers and they'll tell you this is legal, and it's like, they'll tell you it's legal, Like what happens if like the seller dies or what happens if you die or what happens if this happens, know, like the sort of stuff that hap You know, like the banks, he's like, nah, I've done The little things he says, I've done thousands of these alike. First of all, that seems embellished. Yeah. But thousands of these transactions and only had, what did it be, I don't wanna quote him, but it was like 10 get called due on sale.

Mike DeHaan: [17:08] I mean so far, right, it's it's back in a indicating with the future and also with stuff like that, I know what a lot of those guys do is they will have like their community. Right? Like this is what Jamil was super super common. Like he would always do this and try to be freaking crazy. He'd be like, I've wholesaled thousands of houses. Like, no bro, you're freaking franchisers.

Dan Austin: [17:29] Yeah.

Mike DeHaan: [17:30] That are in your company that you, you know, give them the franchise to. I have the terminology for And

Dan Austin: [17:36] they honestly probably haven't done that many.

Mike DeHaan: [17:38] Well, mean, if you have a shit ton of them, they probably have. It's like, you know, even a blind lion will finally catch something.

Dan Austin: [17:45] Does Keeglee still exist? Yeah. I think they're huge. Do like actual no. They're not huge.

Mike DeHaan: [17:50] I think they're not small. I think a ninety's probably has a couple 100 things.

Dan Austin: [17:54] I just can't imagine that anybody's operating it successfully. Know, there's like 1,800 HomeVestors franchises. Bet you 500 are operating successfully.

Mike DeHaan: [18:03] Totally. But you only need like a couple of them and now he can go and say he's done thousands of wholesale deals.

Dan Austin: [18:08] I understand that. I've just said that I just can't imagine that today, that business model is super valid for all their operators. There's always the exceptions to that. But like

Mike DeHaan: [18:16] for sure. But yeah, I think pays to do the same thing, right? As you'll have somebody in his group that uses his transaction coordinator to put together a sub two deal, but he's not involved. And he's like, I'm gonna put a notch on my belt for that one.

Dan Austin: [18:28] Right.

Mike DeHaan: [18:28] You know, go ahead and count it up. As they influence your version of like saying that you own 500 doors when you put $50,000 into a fund. They aren't

Dan Austin: [18:36] so stupid.

Mike DeHaan: [18:37] Yeah. Or the, you know, the podcast are saying that they have 25,000 downloads a month when they're not counting the fact that Apple was just auto downloading 50 episodes for every single person.

Dan Austin: [18:46] And they do six episodes of the auto download.

Mike DeHaan: [18:49] Exactly.

Dan Austin: [18:50] Yeah. And they paid 10,000 people in The Philippines to download it.

Mike DeHaan: [18:53] We definitely do not know somebody that did that.

Dan Austin: [18:54] We don't

Mike DeHaan: [18:55] know people that would do that. It's weird. Hey. We really appreciate you being a listener of the collecting keys podcast. Did you know that we also are on social media and on YouTube? You should go and shoot us a follow on those as well. You can find both Dan and I on Instagram. I am at Mike underscore invests. Dan is at investor man Dan. You can also find short clips from the show at collecting keys podcast on Instagram. And if you wanna see our faces talking while you're listening to this show or you wanna check out some of our crazy animated adventures we've been putting together into some funny little web cartoons that sort of show the crazy stories that guests tell on the show, then you should go over to YouTube and check out the collecting keys channel. Shoot us a subscribe over there. It really helps continue to grow our audience. We really, really appreciate it. Well, anyways, enjoy the rest of the show you guys. We appreciate you all. Either way, it's been a fun 200 episodes so far though. I'm excited to keep doing it. And I mean, honestly, like the best thing about this too is like the audience that it builds. You'd be surprised how even when you have a very small brand like ours, the opportunities that come around, even for just like little stuff.

Mike DeHaan: [20:01] Right? Like like here, I'm in Austin, I went to the gym this morning, dropped into this gym that somebody recommended me, was pretty cool. Took a little video of it, put it on my Instagram. A listener who I've never met before, while he's been on Instagram, he hit me up and he's like, hey, you should come up to Collective and work out with me. And Collective is like the super exclusive gym here. I think it's like $400 a month or something to go there. It's like where Cody Sanchez and like these other big wigs here go and they make it expensive to keep out all the peasants, you know?

Dan Austin: [20:29] Yeah. Of course.

Mike DeHaan: [20:29] You can't drop in there. But he said he has a guest pass. So I'm gonna go work out with some random dude and go flip to this fancy gym. Dude. Right? Which is a cool experience for me because I'm kind of a meathead and I like stuff like that.

Dan Austin: [20:42] Yeah, that's gonna be sick dude. You should see if they got a

Mike DeHaan: [20:44] t shirt.

Dan Austin: [20:44] Yeah. Gotta get a drop in shirt man.

Mike DeHaan: [20:46] I should. Yeah, they have a co working space too. Oh, that's sick. And like that's something that I've, I would say I've added to like my goals and bucket list over the last, I don't know, four months I kind of thought of this idea about having like a really sick gym space that also had like a co working space that was like kinda like a inclusive thing. Because I feel like there's a demand for that. There is a fitness interest amongst entrepreneurs and people that have virtual work environments. But one of the most challenging things is that you go somewhere and trying to find like actually a good place to work out. Right? Or like people they don't they will pick their co working space with its proximity to wherever they go to the gym if they're a fitness inclined. Got it. I figured it out. Yeah. We we work out. We work out. We work That's a great name. Yeah. Yeah dude.

Dan Austin: [21:38] So I agree with that. Like I've had this kind of concept on the commercial side of things of like, I like the idea of like a multi tenant building, because I just like that security, right? If you have five tenants and one moves out, you still have four coming in. It's not like one big anchor tenant, like you have a Walgreens building and Walgreens moves out, right? Like that building was built for Walgreens. Mhmm. Somebody else has to come in and kind of replicate that or redo a ton of, you gotta do a ton of tenant improvements. But the idea of having like this multi tenant building with, that caters to shit I like.

Mike DeHaan: [22:07] Mhmm.

Dan Austin: [22:08] Totally. I need a place to work out, I need a place to like go work sometimes. I don't know that I would want like a full time Dan office Mhmm. Unless it was just an opportunity and I had it for like an office that I could keep or rent out or whatever. But I also like coffee, I like beers, you know, I wanna have some of those things in there. So I feel like if you have a lot of common interests with other people, if you're putting it in a similar similar building or location, you probably, you know, probably have an idea there. Probably something there.

Mike DeHaan: [22:37] Right? And I mean, I think that there's the exact there's enough common interest across that space, like Mhmm. People. I don't think it's gonna go anywhere. Right. Nobody that is motivated by business is gonna eventually be like, you know what? I don't really give a shit about my health anymore. I'm just gonna stop Yeah. Doing

Dan Austin: [22:51] But I also like a good microbrew. So it's right here. So when I'm working in my my workout space, got my gym workout in, I did my days work, now I get to give myself a beer at the end of the day, I micro brew a craft beer.

Mike DeHaan: [23:04] Yeah. That's going that's going out though, dude. Like Gen Z's don't really drink anymore.

Dan Austin: [23:07] But you could do mock tails, craft mock tails.

Mike DeHaan: [23:10] You gotta have a mock tail bar. Yeah. Exactly. And a vape bar. I like how they they just call it mock tail. I think everyone else calls that juice. But

Dan Austin: [23:19] Exactly. My two year old calls that juice.

Mike DeHaan: [23:21] Yeah. Right. Chocolate milk. Yeah. Whatever makes you feel like an adult, that's fine. So I guess he's got a mocktail, you know, appletini. He's like, that's called apple juice. It's called apple Yeah. My five year old loves it. Relations.

Dan Austin: [23:33] Dude, you're not a man unless you've been hung over too many times. Come on.

Mike DeHaan: [23:37] Yeah. Yeah. I mean, I don't know. I've never really had that bad of a hangover, but it's also my genetics. I'm fortunate in that realm.

Dan Austin: [23:44] Yeah. I've been there.

Mike DeHaan: [23:45] But, yeah, we're wrapping up March here. Gonna be it's gonna be our coincidentally with our children's podcast. I think it's gonna be the most closings we've ever had in a month. Like actual without having stuff pushed back or anything. So I'm looking at it right now. Wrapping at the end of the month, we should be let's just push at, across about 20. And then we'll have a couple delays which will push us to 13 So I think next 20 like confirmed closings for the month which is pretty good. We've signed a lot of contracts in a month before, but typically stuff always gets pushed out like more than thirty day closes just for various lender reasons, title reasons.

Dan Austin: [24:24] Well there's always just like some fallout rate, know like 70% you're gonna close and like 40% is not uncommon. Obviously more close the better, but don't be upset if you run-in a you know, an operation you have 30% of your contracts that don't close. It just there's just stuff you can't control.

Mike DeHaan: [24:42] That's industry standard honestly, it must be pretty because when we bring people on this show, there's always like a little before and after show banter where people are asking us about what's working for business and different things.

Dan Austin: [24:54] Yeah. All the insider shop talk.

Mike DeHaan: [24:56] Yeah. And, you know, people always come on here and flex about how good their business is and then we get off and they're like, man, I'm dropping 40% contracts right now.

Dan Austin: [25:03] Yeah. Yeah. Told you I signed 30 this month, but I closed 15.

Mike DeHaan: [25:06] Yeah. All the time that happens. And you don't know that until afterwards. Yeah. But I would say on average, we probably hear people say they close about 70%, which means they actually close about 60%.

Dan Austin: [25:17] Right. Yeah. Totally. And I think we have the benefit of being across several markets so we could see the different intricacies of things like that. And so it seems to be common and it's okay. Things like seller circumstances change, title issues happen, your circumstances change, like things just happen to where the deal just can't come together. There's not a lot you can do, I mean sure you can save some of them and you should try to save all of them, but some of you just can't.

Mike DeHaan: [25:44] Yeah. And it's all about like how it plays out, right? Because like if it doesn't because you're too high and then the day before closing you try to do a pressure up on the seller, you're a dirtbag.

Dan Austin: [25:51] Dirt dirty, don't do them dirty like that. I think like the good example I have is when we, I think we were under contract for a house, it was in North Idaho, was like, I don't know, 180 or 190 is what we were under contract for. Total dump, probably worth, I don't know, 400,000 on a good day at that point in the time of the market. Was like a one bed, one bath, little bungalow thing. The dude had like $250,000 in Medicare liens in addition to all his other tax liens and everything else. Just the Medicare liens were Yeah. More than we were paying for the house. It's just like, okay, that when you get into title and escrow and you find that out, there's just not a lot you can do.

Mike DeHaan: [26:28] And of course title and escrow waits until three days before closing to brings anyone's attention.

Dan Austin: [26:32] Yeah, and we tried. We tried to to figure that out, but we couldn't.

Mike DeHaan: [26:36] Yeah. Well that's right, because that was the the thing with that one, because we had to get some of the liens waived by the Yeah,

Dan Austin: [26:43] we had to go through a whole process.

Mike DeHaan: [26:45] Yeah, they would only do it if we involved that crooked realtor, that was gonna sell it to her friend at also a discounted price, but it just wasn't us.

Dan Austin: [26:53] Yeah exactly, she's like, well I got this person that wants to buy it at this exact price that I gave the appraisal value, I'm like, oh, you're no, they're just a random client? No way.

Mike DeHaan: [27:03] Yeah, but remember, it was so low still, it was like $2.65 or something.

Dan Austin: [27:07] It was low, but it was still high enough that it was like that doesn't really make sense for a professional investor.

Mike DeHaan: [27:13] Totally. Yeah. Was like a buy and hold person or someone buying it for their daughter or whatever else they were out there.

Dan Austin: [27:18] It was basically that the agent, she was definitely trying to hook it up with a unrelated third party, which she also could have owned part of that business or whatever, as investor that wanted to come in, in that market, renovate it and keep it, because it would have made, it wasn't a great location, right, like in a resort town, like you could have Airbnb'd, especially at that time in the market, 2022, everybody was hard dick over Airbnb and Coeur D'Alene, Idaho. And so it made a ton of sense to, I was pumped for the deal.

Mike DeHaan: [27:44] Yeah.

Dan Austin: [27:44] She ruined it and then so my instinct was, I'm gonna make this thing crash and burn and that's exactly what I did.

Mike DeHaan: [27:50] What even ended up happening?

Dan Austin: [27:51] Well, it was basically just like, she's like, well, basically I need you to up your price because you're the one under contract with us in this state. Because she was hired by the state.

Mike DeHaan: [28:01] She

Dan Austin: [28:01] could not be related to the transaction, so she was just there as an adviser and she wanted us to sell it to her unrelated third party. That she's like, I have a buyer at this exact price. And so instead of doing that, I just told the state that we couldn't do that and that price wouldn't work and so then basically they had to go through the foreclosure process which was gonna take like two years because the guy we were buying it from technically didn't even own it because it was his dead ex wife's home.

Mike DeHaan: [28:27] Yeah. And it was so underwater anyway, he was walking away with So it was just the seller, not the seller, the realtor, and he agreed.

Dan Austin: [28:33] So I just made sure that agent, that whole deal got burned down to the ground so that agent couldn't couldn't sell it. Yeah. That's funny.

Mike DeHaan: [28:39] Yeah. That that was when Airbnb's were just getting crazy. People were paying stupid for stuff. Yeah. Speaking of Airbnb, this this Airbnb that I'm at in Austin, it's like an okay place inside. There's just like some things that people get away with in these Airbnb's. I'm just like, why? Like this would not fly.

Dan Austin: [28:54] The j k s closet I can see behind you?

Mike DeHaan: [28:57] Yeah. Exactly.

Dan Austin: [28:58] That's a stick with hangers. That's like homemade.

Mike DeHaan: [29:01] That's not even like a real rack. Yeah. Dude, it's like Lowe's would.

Dan Austin: [29:05] I'm also impressed that you brought a collared shirt to Austin.

Mike DeHaan: [29:07] Well, man, don't know. We might go to a decent dinner or something. That's your nice decent dinner shirt. Jesus. Yeah. We're from Northwest, dude. That's like a nice, I guess. Flannel plaid, dude. But yeah, if you go on go on our YouTube, can see that's why that's literally the only clothing storage option in this entire place, which is weird.

Dan Austin: [29:22] That's crazy dude.

Mike DeHaan: [29:23] But I mean it has like nice flooring, know, it has good like little finishes like door handles, stuff like that. But then you also access through this weird ass alleyway. Mhmm. We got here at 10:30 last night, we were like, okay, I I don't understand where the house is. The alley's blocked by

Dan Austin: [29:37] What kind of car did you rent?

Mike DeHaan: [29:39] It's like a Dodge something, I don't know whatever But Avis gave the alleyway was blocked by like a lined scooter and like a bike. And so we're like, are we supposed to go down here? Like I don't understand. And then we get down the alleyway and you literally can't park because there's this spot that is like not even big enough for a car unless you have like a little Scion, like some little tiny A thing, little Fiat.

Dan Austin: [30:03] A Cooper. Is that what it A Mini Cooper?

Mike DeHaan: [30:05] A Mini Cooper. Yeah. But you also The problem is is you can't even like back into it because there's a garage, and into the garage is this like a ramp that's like this big. Right? It's like a six or eight inch ramp. Yeah. You can't even like back into the spot because you bottom out the car Wow. On the edge of this frickin' ramp. Man. And it's just like the dumbest thing. So you have to end up parking on the street, which I guess is fine. But I'm like, I don't know. If it was a long term rental, couldn't let this fly.

Dan Austin: [30:32] That's funny. So typical.

Mike DeHaan: [30:34] Yeah. And then it's obviously no one has stayed here in a little bit, because like a lot of like the TV had to be updated and all the situation was pretty minor. But the problem is now Airbnb has been around long enough that people have stayed in some of these places, and there's like half a generations worth of old like freaking spices. Nice. And like coffee, and like cumin and stuff that's like in the kitchen. And so you open up the cabinets, and it's like I'm in like a mud hut in like a third world country, which is like how strong the spice smell is.

Dan Austin: [31:02] Gross dude.

Mike DeHaan: [31:03] Stop it. I'm just throwing it away. You don't need to save it for everybody.

Dan Austin: [31:07] That's frustrating. So what are you planning per night

Mike DeHaan: [31:09] for this place? I think for a full week it was like a $100. It's not bad.

Dan Austin: [31:12] What's your cleaning fee?

Mike DeHaan: [31:13] Probably way too much. No idea. I should actually look at my receipt.

Dan Austin: [31:17] $385, probably, for them to come and do nothing. Declutter the closet.

Mike DeHaan: [31:22] Yeah. I'm afraid. I was like, work set up. I was like a nice shower. And like, mean, I don't know. It's not bad. It's just always funny to me like the little things that as a owner you let slide and then as a guest you let slide too. She's like, I'm only gonna be here for five days. Like it's fine. Yeah. Whatever. But it would absolutely not go. It's like,

Dan Austin: [31:38] do you have like coffee available in the unit?

Mike DeHaan: [31:41] I'll able go buy some. I'm not using the coffee here that's from 1996. Not that old. It'll be probably 2019.

Dan Austin: [31:48] Probably like a pog.

Mike DeHaan: [31:50] No. They're like an old coffee maker thing.

Dan Austin: [31:52] Well, I feel like in our Airbnb's, the way we had it stocked was nice because we had those little packets of coffee and those would get regularly used by guests, so was always kinda fresh. Yeah. Like, so I felt like that was good.

Mike DeHaan: [32:02] Just how it should be.

Dan Austin: [32:03] Yeah. It's just, I mean,

Mike DeHaan: [32:04] I don't know. It's a good location. It's just like Yeah. Little stuff. But I mean, was obviously built to be a short term rental because they're on the other side of the lot where you access from the main road is an identical building to this, it's just mirrored. Got it. And so that was the intent.

Dan Austin: [32:18] Yeah. So what happened was the city of Austin was like, we are going to institute some affordable housing laws and let you build Yeah. Basically detached ADUs or houses on the same lot and dudes were like, hell yeah. And then they turned them into Airbnb's and now they're just janky ass lots with janky ass houses.

Mike DeHaan: [32:34] That is exactly what happened. Nice job city.

Dan Austin: [32:35] It's too cramped, the alleyway's useless now, their street's completely cluttered with cars. Yep. And it's Texas, so public transportation's not used because everybody uses cars.

Mike DeHaan: [32:46] Yeah. Although, since it's in Austin and things here are just generally expensive, but there's also like a tech scene. I mean, we're in kinda like a funny neighborhood with like all these weird houses like directly across from where I

Dan Austin: [32:56] parked

Mike DeHaan: [32:56] my car is like an abandoned mobile home that is like super dicey and people definitely sell meth out of there. But you go down, one house, guy has a cyber truck. So he's crushing it.

Dan Austin: [33:04] Dude, what? Oh my god. That sounded like Spokane until you said a guy with a cyber truck. I was like, okay, no, that's not Spokane.

Mike DeHaan: [33:12] Yeah. And then Spokane said they'd have like a $120,000 pickup truck of some kind. You know, it's all jacked up and more expensive than a cyber truck.

Dan Austin: [33:21] Yeah. Yeah. Stupid wheels on it.

Mike DeHaan: [33:24] Yeah. They go and they put some dents in it. So it looks like they do work when really they just drive back and forth and trader jails with their wife. In their big ass truck. So you know what I'm talking about. It's like half a Spokane.

Dan Austin: [33:34] I know exactly what you're talking about dude. Well, that's seems like at least a okay Airbnb that you know, you're gonna get okay service out of.

Mike DeHaan: [33:41] Yeah. It's fine. Like I said, for five days, exactly. That's the thing. You put up there for five days for like, it's whatever, it's not a big deal. But if I had to live here full time and I had to be like walking down from the street with my groceries, that would be a problem.

Dan Austin: [33:54] You'd have to get a Cybertruck because it's bulletproof.

Mike DeHaan: [33:56] I would. Yeah. Man, a Cybertruck is definitely not even going down this alley. That thing's huge. I'll send you a picture of it because it's like way bigger and so much uglier than I thought it was gonna be. It sucks.

Dan Austin: [34:08] I should've got on the waiting list. It sucks so bad, dude. I know it's like a terrible vehicle, but it's kinda like you almost wanna own it though because it's so terrible.

Mike DeHaan: [34:15] I have no desire to own anything like that. It was terrible.

Dan Austin: [34:17] Our friend Ted, he's on the waiting list.

Mike DeHaan: [34:19] No way he'd buy it. Hell yeah. No I

Dan Austin: [34:22] don't know that he'd buy it, he got on the waiting list.

Mike DeHaan: [34:24] Yeah. So so did everyone else. They gave their $100 or whatever.

Dan Austin: [34:27] Yeah. You know, that's a good point. Yeah. I I kinda would like to drive one, but probably not own one. Yeah. Like, I'd like to run it into something.

Mike DeHaan: [34:34] Maybe for for KeysCon this year in Palm Springs, we can find one. We on on Turo. So we rented the g wagon for KeysCon past November. We can do you have cyber truck?

Dan Austin: [34:46] Hell, yeah. I don't know. Is that is it a two person car truck or is it four p, could you fit more people? Because we may need to carpool with people.

Mike DeHaan: [34:53] Since it's a Tesla and all that stuff is dumb, I'm assuming it's a one person car, just sit right in the middle. Just sit in the not even on the left. Yeah. It's like you're flying like a small airplane, just like,

Dan Austin: [35:02] I'm fully expecting you to have like a button that's like you gotta pay for the software upgrade, but it actually lets you like Yeah. Mount a machine gun to the back or something.

Mike DeHaan: [35:09] Who knows? Anyways, cool. Well, that was an episode about nothing. Anything to wrap up Dan? Is not

Dan Austin: [35:15] So about let's let's keep it about nothing.

Mike DeHaan: [35:18] Let's keep about nothing. Yeah. Alright. So that was our episode 200, our talk about nothing episode. Promise everybody, it will only go up from here.

Dan Austin: [35:27] It might go down every once in while though.

Mike DeHaan: [35:29] Every once in a while. Depends on what do. So anyways, guys, we appreciate you guys listening and we'll talk to you next week.

Dan Austin: [35:35] See you.