Real Expectations Explained

TRANSCRIPTION

Hey, this is Terry Hale, want to take a quick minute here,
I got off the phone with a client of mine. And we were talking about expectations,
Like what could they really expect as far as results because
I’m a very result-driven person. And so is my new client, Aaron.
So this is what went down, I told Aaron and I said,
“Look man, you just need to concentrate on the aspect of locating the right project.
Once you find the right deal, then you have to pre-screen it.
You got to go through the standard protocol to determine
If we can set up multiple exit strategies. Once that all happens, it takes about a week.
And then when you determine that it’s a real deal, we put it under contract.”
Typically, we go under contract within 10 days of an executed letter of intent.
And then from that letter of intent, we got a contract.
From contract we have anywhere from 30 to 90 day due diligence.
So as you can see, the timeline starts wrapping up, right?
It starts going up there. So 90 day due diligence max, typically, it’s 45 to 60.
And then we have time allocated for closing. So we can wrap it up
With a full seller finance note in as little as 10 days of closing.
Or, if we’re going to be bringing in additional private capital and doing a full takeout
To buy the low price point, then that could be around 30 days on closing.
So if you add up all those timelines, the realistic results that I told Aaron,
And then I’d like to share with you is, do a deal every hundred and eighty days.
That means two deals a year. That’s all you need to focus on.
And it only takes one to create yourself monthly passive income to set you up for life.
I mean, if you’re like a client of mine that just closed his project four weeks ago,
And when Terryn closes project, it went literally from day one to five weeks later.
Under contract moving it forward.
And now he’s got over $725,000 equity locked in the walls on that deal,
But he’s getting monthly passive income. And you can do this business,
You can set it up, just concentrate on two deals a year. I mean, one deal,
You can be one and done. But if you want to create a portfolio,
Continuously take the action, do two deals a year. All the rest of the time,
Spend time with your family, spend time with your friends.
Do what it is that makes you happy because life is so dang short.
You got to enjoy life and live life in abundance.
Commercial real estate allows you the benefit of, stop selling your time for money
And start concentrating on the good life. Go get a suntan.
Have a good time. That’s what it’s all about. To learn more strategies and techniques,
Visit terryhale.com or go ahead and click the link in this video description.
And I look forward to engaging with you real soon.