Derek Dombeck, a Real Estate Expert hosts and runs the WiscoREIA based out of Wausau, WI. There he coaches and teaches other real estate investors his keys to success. He is currently hosting 3 national Mastermind groups called the R.E. Circle of Trust and puts on an Advanced training and Networking event each winter called The Generations of Wealth Voyage.
In today’s episode, Derek shares his strategy for creative deal structures and how he raises private money to execute more deals.
Episode Link:
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Transcript
Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.
Michael:
Hey, everyone, welcome to another episode of the real estate investor. I'm Michael Albaum, and today I'm joined by Derek Dombeck, who's an investor, owner of a private lending company as well as conference host. So let's get into it and hear about Derek's private money and sophisticated purchasing strategies.
Hey, Derek, what's going on? Thanks so much for taking the time to hang out with me today.
Derek:
Yeah, I just appreciate you having me on.
Michael:
I think it's, it's totally my pleasure. I think we're gonna have a lot of fun today, because we're talking about a pretty interesting topic here but before we get into the meat, and potatoes and sausage, as you mentioned, the in from Wisconsin, give all of our listeners a little bit of background and insight into who you are as an individual and what it is you're doing with real estate today.
Derek:
Well, don't forget about the beer in Wisconsin as well.
Michael:
That's right. Before we get to the beer and sausage…
Derek:
Yes, I just started out as a construction worker back in the day and started in 2003, just like most people do, you know, we buying and selling at that time holding rental properties and we were buying in the state of Wisconsin buying cash flow properties but we also got, I don't want to say sucked in in a bad way. But we kind of got sucked into the craze of building new construction in Florida in the early 2000s, which went really well until it didn't. So and in 2007, you know, in that short period of time, my wife and I had built up a pretty nice portfolio and, yeah, it we lost it. We lost it all down there. Fortunately, we didn't lose our personal residence but the majority of our holdings, I mean, at that time, we had about 29 doors, right around $4 million in assets and just within months, it was down to a million dollars in assets on paper, cash flow was negatives and I look at that now, as such a blessing. It didn't feel like a blessing back then. I mean, it was definitely a blessing in disguise. But we would have never been forced to learn how to get creative and learn how to structure deals creatively because when we started, we use banks for everything. You know, we were just like lending tree, everybody was throwing money at us and we had great credit, good income, jobs, all the stuff that banks love and we quickly realized how little control we had over our business, the bank's control their business and when the bank stopped lending, we were dead in the water. So it took a few years but fast forwarding on we learned how to get creative and more than that, I learned how to talk to people, because I didn't hide from our problems. Like many I didn't join all these class action lawsuits, blaming everybody for everything that went wrong. There certainly were people that did us wrong. But at the end of the day, we take responsibility for our own actions and I want it to be able to, you know, approach the banks, and especially our local community banks, that we have been doing business with, and they wrote it out with us. I mean, I had a couple of community banks, who didn't get their doors locked, that ultimately, you know, hung on with us and rewrote those notes and you know, the stuff in Wisconsin was cash flowing. It was the stuff in Florida that was burying us and you know, we made it through. But as we've transitioned forward and met my current business partner about 10 years ago, he had never used a bank ever to do any kind of real estate and he started one or two years after I did so we've both been in the business since the early 2000s and he had always raised private capital to fund all of his deals and so combination of raising private capital for the cash deals and structuring terms on the creative deals. That's how we've grown our business to this day. Right now we our goal is to buy two or three real estate acquisitions a month, but our bread and butter actually transitioned into the lending space because we got really good at raising money to fund our own deals to the degree we had more money than we had deals.
Michael:
Wow, you never hear that…
Derek:
Yeah, so we had a lot of friends and I think this is important, Michael. The first eight years of my business I was a closet investor. I didn't go around trying to build a network, I didn't really tell a whole lot of people what I did, I had a full time job and I, I built my real estate, you know, on the side with my wife. After that, we realize it's a team sport and I had to go out and find people to work with, and, you know, people to collaborate with when I needed help. So that's actually how I met Jeff, my business partner, he was running the real estate investor Association in Green Bay, Wisconsin, which is about an hour and 20 minutes from where I live and, you know, I started to see the importance of having a network growing a network and since then, that's where we found all of our borrowers we had, and that's where we found a lot of our private money as well.
So we had the reputation of being reputable, we knew what we were doing on the real estate side, our investors had money to place, our friends needed the money for their own deals, and we started playing monkey in the middle, and getting paid to, you know, put the deals together, that parlayed into what is now about an average of 20 to 25 loans a month, going out the door, and, you know, several million dollars a month in in loans and it's we're still 100% privately funded, we don't take on institutional money, I won't sit here and say it'll never happen, but we have no intentions of it because part of the cool thing, Michael is what I do with mom and pop investors, I get to help them, right, a lot of our investors were getting, you know, 1% 2% 3% return on their money, and they're getting nine, secured by real estate, like it's changed a lot of their lives, and a lot of their retirement accounts and things like that. So it's been really, really fun. I honestly don't know where it's gonna lead to I mean, the, the opportunities are presenting themselves and, and we're, we're open to growth, as long as it's controlled growth and you and I talked a little bit before we jumped on camera here, about our, our lifestyles, and I really like to be able to travel with my, with my family, and work remotely and that's something that the lending business affords us versus managing flips, or even rental properties. We still do that, and we have staff, but if I'm going to scale a business, I want to scale the lending business versus the land lording business.
Michael:
That makes sense. Yeah, it makes total sense. So Derek, I'd love if we could dive into something that you mentioned and that's about structuring deals creatively. Since I think it's something that people talk a lot about. A lot of our listeners have probably heard the term creative financing or creative deal structuring but let's talk about and unpack what does that really mean? So give us a little bit of insight when you say that you structure your deals creatively, what like, what does that mean?
Derek:
So I think I want to clarify what people title creative deal structuring. So you've heard of purchasing a property subject to its mortgage, you've heard of leases, you've heard of options. You've heard of land contracts, or contract for deed, seller financing, using notes and mortgages. Those to me are all individually, they're all strategies. When you stack those strategies together in any 1234, you know, different strategies all together, I consider that deal structuring. Okay… That's, that's my definition for it. So when I get a seller, I do the majority of my negotiating over the phone only because we operate in a fairly rural area and we operate in a 200 mile diameter. So, yeah, and I don't want to jump in the car. Even though gas is cheap, I don't want to jump in the car and drive 100 miles to a house, if there was never a chance that I was actually going to put a deal together on that house. So I got really good at it being able to talk to people over the phone, and getting them to open up about what their goals are in it. It's to me, it's super important. solving their problem. I don't even need to mention what my goals are because I know them internally. I'm not going to do the deal if I don't hit my goals. So I'm only working towards their goals. I'm only talking about their goals and through those conversations, you know, a lot of negotiation books and gurus and people at Teach sales really try to tell you just ask questions, ask questions, ask questions, and that's not incorrect.
But I really feel it's important how you ask those questions. What the tone in your voice is what the response and the tone in their voice is the body language even if you can't see them. You can hear it and very much on that. that type of stuff. So I just did a presentation last week. So I'll probably use a couple of the same case studies but I did a presentation down in Milwaukee, Wisconsin, on this very topic and people are like, well, how do you get somebody to tell you what they really want? How do you get somebody to tell you what they owe on their loan? How do you get them to do all these things and I feel like number one, I'm just really blunt. It not in a rude way. But I don't hold anything back. I have no problem. If somebody is going through a foreclosure for example, I have no problem saying, Michael, I, I've been through several foreclosures myself, I lost everything. I know how you feel and they know if I'm bullshitting them or not, right, especially if they can see me if we're at a kitchen table tonight and I'm able to do that they can see the my face. But yeah, you know, I've lost family members, I've lost my father. So we've dealt with the grief and the probate and everything that you go through, if you're dealing with somebody that's selling an estate. So I have no problem opening up about that being vulnerable, letting them know, I am clearly here to help and I am going to profit and I'm not going to hide that fact, I'm going to profit if I'm able to help them, but I'm helping them. So the first thing I do within the first two minutes of any phone conversation, or in person, but typically it's on the phone, is I have a little elevator pitch and so Michael, I'm just gonna you use you as the seller, right?
Michael:
Please…
Derek:
Michael, I just want you to know that we buy houses in several different ways, all cash is not a problem. But that's typically going to be our lowest offer. If that doesn't solve your needs or doesn't meet your needs, we can look at taking over your payments, if you still have debt. If you don't have debt, we can make payments to you over time and in some cases, we actually just lease your property and put a document in place called an option and we purchased it in the future that really works really well. If we're dealing with a landlord who's trying to offset some capital gains taxes for right now. Just tell you all this, Michael, so you understand. I'm going to ask you some questions that most people probably would never ask you. But I'm really trying to give you a solution for your problem today. Is that fair?
And finished...
You can tell I've said that right? A couple 1000 times or more. One, what that does, is that sets up any question I asked moving forward, they now know why I'm asking it. I'm asking it to, you know, when I say Michael, do you have any debt left on your property and that's important, too, like the way I just said it? I don't say, Michael, what's your mortgage or Michael, do you know? What's your loan payment? I don't say those institutional words. I come across soft and subtle and, Michael, do you have any debt left on your property in a tone, right and people just…
Michael:
It feels so different. Even just as we're having this conversation…
Derek:
People open up and that's the tone of the entire conversation. And I don't care if it takes 15 minutes or an hour. As long as it's going in the right direction and I'm leading them. I'm leading them to a pre preconceived conclusion that I already have. But I'm not doing it maliciously, or trying to take advantage of their bad situation, right. It's kind of like, Have you ever gone to whitewater rafting?
Michael:
Yeah, it's great.
Derek:
So you have a guide, when you go whitewater rafting, and they know that they're going to take you through a class four rapids, and it's going to be a possible shit show. But they also know that the joy and the excitement that it's going to bring you when you get to the to the, you know, the soft water at the bottom of that, and everybody's high fiving and they're excited, they got the adrenaline rush, they already know what was best for you, I do the same thing. I know what I can do for a property owner, I know I'm gonna have to get him through some class three or class four rapids and they're gonna have to, you know, take faith that I know what I'm doing to get to the end when we're all high five, and then the problem is solved. So I don't want to manipulate them through the class three in class four rapids, but sometimes, you might have to just, you know, throw them into the class three and class four rapids. No one, we're going to be okay.
Michael:
Yeah that’s a great analogy.
Derek:
Yeah, so that's what we do.
Michael:
Derek, I'd love if you could walk us through what a case study looks like your example looks like that that you've seen, because I think you threw out a bunch of really great strategies, but hearing how they all start to piece together and fit together and be really helpful.
Derek:
Yeah, for sure. So I want you to know the case studies I talked about have all been done in the last couple of years during the hottest selling market we've ever had, because I don't I'm not going to give your listeners old information.
Michael:
From 1979 a deal that was done…
Derek:
For sure but I had a ranch house on five acres of land and Central Wisconsin, to give you an idea, our median price points here are 150 to $250,000 houses in most cities and you get rural, it can be a little bit, you know, plus or minus depending on acreage. But I, you know, this was a three bedroom, two bath ranch built in the 70s had some additional outbuildings sat on five acres land, and in a nice condition that would have been worth about $225,000. Now this was about a year and a half ago. Okay, so today's market, it would have been up another 20-30 grand. But Randy had two mortgages on his property and the if you wanted to do a full renovation on the property, it needed a $50,000 renovation. It had some dated stuff in it, part of it had been updated but Randy was a bachelor there was not a lot of wear and tear on the property. But he had some foundation issues, we had some leakage going into the basement, a lot of those things can be easily solved, which I'll mention in a second. He was retiring, and apparently had met a woman from out of state and he literally wants to retire and move within a week and go move to South Dakota where she lived.
He did not want to deal with a realtor or showings or having to do anything to the house to make it pass a home inspection, anything like that. His two mortgages were totaling $132,000 and my cash offer to him was 124 and he said I can't take 124 for some obvious reasons and some other reasons he just didn't want to write. So we talked about potentially doing a joint venture where it's Randy, I could come in, I could stick the time and money into the property and we could you know, I want to get my money back hit a certain profit margin, we could split any extra proceeds. I don't like doing that with civilians. I don't mind doing that with other investors. But I'm not a fan of doing it with civilians and ultimately, he didn't like it either because how do I trust you? How do you trust me and I said, okay, well, what do you want to get in your pocket? And he said, I really want $150,000. If I got 150,000, I walk away, I've got a little bit of money to start over with and I said, well, you know, if you listen to this with a realtor, you could sell it for more than 150 and he said, Yeah, I know but for the same reasons I already mentioned, he didn't want to deal with it. I said, how long would you typically list your property with a realtor for and he said six months…
Again we know the answer already. But I'm still asking the question. I said, okay, Randy, what if I had six months on an option to purchase your property for $150,000 and I stick whatever I feel necessary into the property to sell it. In the next six months, whatever I sell it for over and above the 150 is my profit and he's yeah, I'm okay with that and I said, okay, I also want to lease so I have the legal right to use the property, and I'm not going to use it to live in, I'm going to use it so that I can fix it up and he said, that's great. I said, What do you think is a fair price for rent? Now remember, I'm going to be paying the utilities and I'm going to take care of this was the fall of the year. So there's leaves falling and there's yard maintenance and some landscaping, which a realtor is never going to do, right? Yeah, potentially there could be snowfall during the six months. So I'm gonna have snow plowing and all these other expenses and he said, well, I don't really need anything for rent. I will tell you, he backpedaled before we signed the documents, he ended up chiseling me for the taxes, the real estate taxes monthly, so I ended up paying $220 a month for rent, which, you know, I gave it on that one. So, so I had use of this building for six months for $220 a month plus utilities. Okay, I am now going to go in there and only do the renovations to it that I feel necessary to get it to pass a home inspection, and an FHA loan or any government backed financing, because conventional would already qualify, but I want to make sure it's gonna qualify for all these other programs. That meant taking care of the water problem in the basement and ultimately, we painted everything the basement walls, we freshened everything up, did a deep clean on the property did some landscaping, five days’ time, and $2,000 out of my pocket in labor and material, and we put that property on the market.
We had when I listed it with my real estate broker friend who already had a buyer in her pocket, but we did it legal and we marketed it. Her showing was the first showing we had 14 showings scheduled within the first 24 hours and I ultimately accepted the original offer which was my full asking price to $100,000. They had no inspections, they had good financing conventional financing, they were able to close in about 26 days. I never owned the property, Michael, I controlled it with an option and a lease, our net was $36,000, so…
Michael:
For five days working to raise…
Derek:
For five days working to raise work. So what's the what's the return on investment annualized? Who cares enough, right? It's enough. But it gets important on how you structure this because we talked about strategies and structuring, right. So initially, I had an option, and I had a lease and that was great but I want to protect myself and this is something you probably won't hear anywhere else, because very few people talk about it. You have the right to record an option on public record, right. So that Randy, Randy can't go and sell it to somebody else or, I mean, Randy could see oh, my gosh, he put this on a market for 200,000, which actually we talked about because I'm again, I'm opening blocked, I told him what my intentions were, he was totally fine with it and spoiler alert, he actually knew the kids that I sold it to they, his their parents were friends of his they just didn't never knew his house was for sale. So he was happy with who ended up with the house. But what I do in that scenario is I secure my option with a mortgage. A mortgage is nothing more than a security instrument, which typically is going to tie a property to a promissory note alone, right. But a mortgage or a deed of trust, depending on what state you're in, can secure an option it can secure lease, it can secure any agreement, because all it's doing is pledging the property as collateral in the event that the agreement is breached or defaulted. Okay, so why is that so important? Why don't I just record the option? Well, let's say that Randy decides he does not want to close, I do all this work, I find a buyer he doesn't want to sell to me because he, you know, he's seeing dollar signs, and he wants to backdoor the deal and go sell to somebody else. options have gotten missed in title searches. I mean, they're not as common as a mortgage and everybody's taught to look for mortgages or deeds of trust, if the option got missed, and that property actually closed, and Randy sold it to somebody else, what's my recourse, as the option holder?
Michael:
Probably pretty limited.
Derek:
I could file a lawsuit, I'm never going to get that sale reversed ever because it's done. It was sold to a third party, it'll never happen. But I'm sitting in front of a judge arguing contract law, which is gray at best and the judge has the ability to have an opinion on what he thought we meant. In this option agreement. If I record a mortgage instead of the option, number one, I don't want the public seeing what the terms of my option are and if they're public record, they get to see what my purchase price is. And they get to see how long I have to purchase it and everything else that's in there. So I could file what's called a memorandum of option. But I don't want to do that either because again, it could get missed now if I file a mortgage. How often do mortgages get missed, almost never but even if it got missed, I still have a lien against that property that's in senior position to who just bought it. Title insurance is going to kick in, there's going to be a bunch of stress, but I can start a foreclosure action, take the property back or if Randy refuses to sell to me, I can say, okay, Randy, thank you for being an asshole and not living up to what we agreed to. Now I have to turn this over to my attorney and foreclose and take the property away from you. In which case, you're likely gonna get zero instead of the cash he would have gotten, because he pledged the property as collateral to secure our agreement.
Now I would be in this particular deal I would be foreclosing subject to the senior liens, I would still have to pay off his bank loans… which is totally fine, because that's the way it should be anyways. And then here's the final piece. I always have power of attorney on the properties from Randy. So when I went to list the property, if I was going to sell it to anybody using government financing like FHA, any loan program that still has seasoning issues or title seasoning requirements, I should say I could not buy the property from Randy and then double close it 10 minutes later and sell it to you because there will be a title issue with seasoning of title because I had power of attorney from Randy. I listed the property as Randy's POA and I actually signed the closing documents on behalf of Randy to the end buyer and I got paid as a mortgage payoff on the closing statement. So it doesn't trip up any FHA underwriting or any other loan underwriting because they're doing a title search. They're seeing Randy's name is on title, right? I'm Randy's POA makes total sense
Michael:
Oh my gosh…
Derek:
and my payoff is just going to be a mortgage payoff which looks normal to any lender. Right? So we stack a couple of different tools there and that's creative deal structuring.
Michael:
That is what for anyone who's watching this, you'll see my mouth is a game for anyone listening to SAT, take my word for it, my jaw just dropped to the floor. That's wild Derek, how did you figure this stuff out man?
Derek:
I have a PhD of public high school diploma and I have I have a network. I mentioned earlier, it's all about your network, I have friends that I you know, most of them are, you know, in their 60s and 70s. I'm in my 40s but these guys have been there done that. So when I have a deal that comes up, I'm able to pick up the phone and talk it through with my friends and over the years now people are calling me to get the advice that I learned from them, right. But it's all about the network. It really is because you can read it, you can hear it, you can look at it in a book or a seminar until you're actually on the streets, work in the real deals, most of the time doesn't sink in. It doesn't for me, at least, you know, I gotta be, right. So I mean, that's one deal, which was actually pretty basic. In my world, I didn't stack a whole lot strategies there, it was really just a lease option but they get more intense, and they get more layers, depending on what we're trying to solve. I won't probably have time to give you the details but I'll tell you, we bought a house, subject to a first mortgage of roughly $65,000. I don't have in front of me. So I'm going to kind of round up the numbers, right?
Michael:
Yeah…
Derek:
The seller wanted 105,000 and so first mortgage subject to 65,000, she needed $10,000 cash and she was willing to carry the remainder of the purchase price on a second mortgage with payments of $200 a month until paid in full at 0% interest I needed about $20,000 tend to give her into cash and tend to stick into the property to do some paint and carpet and cleanup and I was going to lease option it to a tenant, future buyer. So I approached the financial friend who has a small IRA, how do I know they have a small IRA because I communicate with all my financial friends as small IRA, I said, hey, Dan, I need $20,000 I'll give you 6% interest only quarterly and I'll give you 25% of the equity in the property someday when we sell it. He said okay, cool and that's in his IRA. So that's growing tax free for him. Right. So I'm in the deal with nothing out of my pocket. We ended up about a little over two, two and a half years later, it sold, you know, to a lease option buyer and everybody got paid off. Dan got his portion, she got the remainder of her second mortgage, you know, the bank got their money, everybody got paid. I can't remember what the ROI was. But it was pretty sick because I had nothing into it, and, but that we stacked a lot of strategies in that deal structure.
Michael:
This is wild, Derek, we got to do like five episodes with you, man just talking to all this. This is mind blowing but we're gonna wrap up here in a minute. But you said a couple things that I want to come back to and make sure that people really hurt and it sank in and one of which is that you said you're trying to solve these folks problems before mentioning what your goals are right? Not even maybe mentioning what your goals are, which I think is so important because so often in these in just sales in general real estate transaction, It's you versus me, us versus them type of mentality but what you're talking about is coming, hey, you know, putting armor on the person we're on the same team. Let's figure out how to get you out of hot water, which I think is so critical.
Derek:
It is and it's a lost art in the United States and that lost art is sad because people don't care about people anymore, right. Many people don't even know their neighbors names. I live in the middle of nowhere. So for me, I got 40 acres and some horses and my family and I know all my neighbors around me I've been in the same area my whole life. But I go to these cities and I buy these houses and the first thing I do literally is I go on every house on either side of me across the street and behind me and I shake their hands, I give them my business card. I let them know what our intentions are with the property. Now I have a built in security system, because they're all watching the house for me and they all have my cell phone number and they're also seeing the improvements we're making to their neighborhood. So when they have a friend or somebody else they know that's trying to sell a property, they call, right like, but that's just a lost art that nobody everyone just wants to hide or they're the other way they want to put everything on social media and brag, that's a whole another thing…
Michael:
We could do a whole episode about that.
Derek:
Yeah but that's, I mean, what I do is nothing magical. I just truly care. And if I solve enough people's real estate problems, I'll make a healthy living and raise my family. That's really what it comes down to.
Michael:
I love it, I love it. Derek, we're gonna get you out of here in just a minute but before we hit record, you were telling me about some pretty cool side projects that you're working on and I think you mentioned that you're writing and also coauthoring a book. Is that right?
Derek:
Yeah. So I'm authoring my own book, which is not titled yet, because we're in the process of it and I'm coauthoring a collaboration book with a bunch of other really cool authors and they're both gonna be out towards the end of the year. So I can't give anything today, I just would have to have people reach out via email and let me know how I can get it to them later. But I'd love to give your audience the free version of both of those books and then…
Michael:
Amazing…
Derek:
Yeah, so I mean, simply my email address is my first name: Derek spelled the shortwave, because my mom probably thought I was gonna be smart enough to spell it the long way, I'm not sure. But it's so derek@bestreifunding.com shoot me an email, tell me you heard me on Michaels podcast and put you on the list for the for the free books and when they get, you know, released, I'll have my assistant just email blast them out to everybody. So that's the first thing, I'd just love to do that.
Michael:
Thank you.
Derek:
The other thing, Michael, I host the conference once a year and we actually, this, this was handed down to us from all of my peers that I learned all this cool stuff from, we just became very close friends, they used to run a conference on a cruise ship and they it, you know, they aged out and so we don't do this anymore. So we took it over. It's called the generations of wealth. It's going to be in Cancun, in February, late February 2023. So, what I'm super proud of Michael is we have non selling speakers. So this isn't a pitch fest. We have a five day conference, we have people speak from nine in the morning until one in the afternoon. On advanced strategies, this is not really for brand new people. I mean, you still get something out of it but it's advanced stuff, what we're just talking about for last 25 minutes. But then the whole afternoon is spent just networking hanging out at the pool, having a an adult beverage, if you're you know, have like that kind of thing or if you're from Wisconsin having 12, adult beverages, whatever and then people are out to dinner together, people are hanging out by the pool, whatever. Then in the evening, we have these townhall sessions which are totally optional. I mean, you can come and do as much or as little as you want but those are more interactive discussions.
But what I really love about it is we encourage people to bring their kids, especially ages 10 and up, we don't charge you to bring them they can sit in on every session at free of charge. Last season or last February, when we had it, we had about 18 kids there and about a dozen of them sat through every lecture regardless of the fact that didn't have a clue what was being talked about. Other than my 15 year old daughter did a presentation on how to get your kids involved in your business, which made me super proud. But I want our kids to build a network of people in their teenage years and early 20s across the nation who have parents who are freaks like us, who just don't conform to a lot of the stuff that's being taught in school systems and if they never enter the real estate world totally fine but they know that there's other people out there. I mean, literally my daughter has friends in about seven different states and they communicate daily, weekly. It's unbelievable. So generations of wealth. The website is: G O W https://gowvoyage.com/ -G O W voyage.com. It's literally just being opened up to the public as we're recording this and which is it's not going to be this huge 400 person conference so there will get potentially a point where we're gonna have to shut it off because I've only got so much room blocked off at this all-inclusive resort, but it's going to be awesome.
Michael:
I love it. We'll definitely go check that out everyone listening or watching Derek what's the best way for people to get in touch with you if they have more questions want to follow up? Is it your email that you gave earlier is there another way?
Derek:
Yeah and that's my personal email guys. I actually check that and I'm more than happy to talk to anybody about, you know, whether they're private lenders or deal structuring or whatever. Yeah, reach out to me, I'd love it
Michael:
Right on. Well, Derek, thank you again so much for coming on and sharing so much wisdom. This was really incredible. Definitely, we'll be in touch soon, man.
Derek:
Awesome. Thank you so much, Michael, ever have a blessed day.
Michael:
All right, everyone. That was our episode, Derek a big thank you to him for coming on and sharing some really interesting insights into creative ways to purchase properties. As always, if you liked the episode, feel free to leave us a rating or review wherever you get your podcasts and we look forward to seeing the next one. Happy investing…
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