Casey Mericle Reveals Mind-Blowing Strategies for Creative Deal Structuring

Speaker 2 And rely on the commercial real estate Playbook Frank. How you doing this morning? I'm doing good, man. We had a three-week Hiatus, we got a little busy, we had a golf tournament. We played in New York or not a tournament, but I guess they get together. So we haven't filmed, but we have a great guest today. So I'm excited to introduce PC Miracle of Twitter, the resident Guru on free to financing. I would say on re twit. How are you? I'm great. Right. Speaker 1 Great John. Thanks for having me, appreciate it. Yeah, for sure, man. Give us give us a brief intro of who are you in terms of commercial real estate? Yeah. Brief intro. I must sick puppy. I've got an incurable Speaker 2 disease. It's called real estate. If it's real estate, I like it. And I don't know. I've dabbled in all kinds of stuff, I don't know. I'm pretty agnostic as far as asset class. I don't really like retail. I don't like Hospitality because it's too much work. Well hospitalities too much work retail I just I don't have connections that I think I need to really kill it but everything else if I haven't thought about it I probably at least put an offer in and got way down the rabbit hole. So yeah. So is it is it fair to say then that you're looking for just best price and best terms or best opportunity and you just go from there? Like how do you, how do you get to that spot? Yeah, so I would say I'm an opportunist, right? So, you know, I buy for myself, I buy for other people as well. So that, you know what? I like isn't necessarily what other people like. So, you know, for instance, You guys know that, you know, I do storage right? So, I like storage because it's not, Speaker 1 it's, it doesn't take that many brain cells for Speaker 2 me, you know, the Speaker 1 operations isn't super heavy. Speaker 2 It's, you know, in the whole Speaker 1 scheme of things, it's way easier Speaker 2 than multifamily or bunch of single family stuff. Speaker 1 Yeah, but you know, I Do by multifamily, I Do by Speaker 2 single-family people call me and say, Hey, you know, Casey I know you can find a deal, your friend of mine, go find me a deal for an apartment building or go find me a deal for a single family, or go find me industrial deal or whatever, Speaker 1 right? Speaker 2 And if your friend of mine I might do that for you. I might take a fee I might take it. I might take Equity I might you know whatever? Right? I might do it out of the goodness of my heart depending on how much Speaker 1 I like you. But yeah. So just opportunist you know noi is just the cap rates just a vision within. Oh I so you know it's not that hard across asset classes. So I'm not always running and managing what I'm buying. So that's helpful. Yeah. And you know, retweets a small place so if I don't know something, I could probably ask somebody that's got. Speaker 2 You know, Decades of knowledge. So Speaker 1 and how did you get to this point? What's what's your background? Let's see, how do I get to this point? So I started buying Speaker 2 foreclosures on the courthouse steps like nine ten. I was looking for deals probably about five years before that but had anxiety about buying anything Speaker 1 before I pulled the trigger. You know, flipped a couple houses thought I was doing Speaker 2 well was doing pretty well. Got married had a baby on the way. I sat there and said to myself. Okay how do I make more money and spend less time that got me into a series of interesting items like performing notes and Performing notes and hard money lending and then I found creative financing and then you know then I kind of a few years ago kind of transition into commercial stuff. So just a series of mistakes John, that's all That's interesting. So how are you finding deals right now? What is what is your day-to-day look like? And how are you prospecting and finding assets? Speaker 1 Yeah, it depends, right? So if depending on what it Speaker 2 is, you know, I'm not opposed to cold calling and finding something really specific with kind of a rifle approach, but then on the other hand, I mean, just last week I got on, you know, Loop neck cracks, he and co-star. And put a couple offers on random brokered stuff that I thought looked interesting. So, So finding deals for me right now. Well, as you guys know, bid-ask spread is pretty far apart right now. So if somebody watches this video years from now, they'll be like oh yeah it's easy to buy it's easy to sell things are so close. Well, Speaker 1 right now things are Speaker 2 you know far apart. All right so I'm Speaker 1 Bridging the Gap with Speaker 2 just creative structuring essentially, right? And sometimes that seller financing, sometimes it's not But a lot of times if I can get seller financing, I can pay a price that the seller finds to be lets say of the 2021 vintage. And I just get some great terms to go along with a high price and I know that if I'm going to keep it for a long time or whoever is going to keep it for a long time that price really doesn't matter if you're holding for 10 years or more than, you know, prices are historically go up and life will be okay. You just have to have the cash flow to weather the storm. So, Speaker 1 and what kind of deals are you looking for right now? What kind of Juicy ones? Yeah. Well, what I'm looking for is something that will cash flow really well, right? So it doesn't really matter. The asset class to me is much what matters to me is capex and Opex is low enough even with a big contingency budget that there's Hardly there is few Speaker 2 ways that the deal can go broke, right? Yeah. So, you know, it's kind of counterintuitive say, hey, I'll pay a high price and still cash flow like crazy, but there's plenty of ways that you can structure a deal to do that. So got it, got it. And is there is cash-on-cash the metric you're most concerned with and if so what do you really Speaker 1 targeting? No, the metric is more qualitative greed. And envy is probably the words that I would use. That's the Speaker 2 first time I've ever heard. So like describe their by box as greed and envy. Speaker 1 I, well, well, here you go. Frank. So if I had a deal and Speaker 2 I told you about it or vice versa, Speaker 1 let's say, John has a deal and he told us about Speaker 2 it, right? And we sat there and the greed Speaker 1 gland and the in V gland got going real heavily. That's that's how I feel about a deal, right? You know, I'm, for me, personally, I'm looking for cash flow and growth if I can do it. So, you know, usually I want cash flow. I want big cash flow, and I want, I want upside, right? And I'll buy something that's, that's crappy that I think I can. I can make Speaker 2 work and make work means, you know, renovate or raise rents or Speaker 1 or I just there's something Speaker 2 that I can do different about the property that isn't being done now. Right. So yeah Speaker 1 and how small of a deal will you go after and then how large of deal we go after? What are those price points where you like to play? Oh man, that's Speaker 2 all over the board. Well so I'll just tell you in the last month. I've gone after something as small as Three hundred thousand dollars and I've gone after something as big as 13 million dollars. Speaker 1 So that's a wide spectrum, man. Very good. And then is it just you or do you have a team? You know, what's, what does it look like? As far as finding deals, it's just me, right? Like, depending on which business, or what, what's interest, you know? Like, for instance, my storage business, right? I've got, I've got a couple parts out employees. I've got a couple overseas va's that helped me, you know, I've got accountants and lawyers and all of that, but for the most part, I try to stay lean and mean so, Got it. I want to talk about one of these deals that you've done. You mentioned before Speaker 2 sellers tend to be stuck on price and you're willing to pay, maybe even a 2021 price if you get the right terms. Can you take us through a deal? It provides a good example of Speaker 1 that. Yeah. Well Speaker 2 let's say I'm buying a storage facility in Oklahoma. From you gentlemen, for instance Speaker 1 and let's Speaker 2 say you've got a, you know, 2021 prices. I don't know. You want to can you Speaker 1 guys come up with a number for a 2021 price Speaker 2 on a something. And let's say, it's a Class, B, tertiary facility. It's a 30,000 square feet and it's Speaker 1 selling for Speaker 2 3.5 million bucks like 110. A square foots, like marketed high-priced property. Okay, call your price is 3.5 and that's the 2021 price, right? Yeah, I think so. What I might say to you is, hey, first thing I'd say to you is whoo. That's ridiculous, right? That's a very first thing I would say to you and then I'd ask you how did you come up with that price? And then I would, I would, I would Fain fainting, right? And then after all of that, I Speaker 1 Back to you and say, okay well you know you guys are 3.5, you know, 3.5 makes sense, when debt was at three, Speaker 2 you know. But Speaker 1 would you guys go get, like, would you guys lend your money out, you know what, you know, Speaker 2 5% and a 7 percent interest rate environment. No, I would not. Speaker 1 Well, that's kind of what you're asking Speaker 2 me to do. If you're asking me to buy a 3.5 is that fair Speaker 1 No, I'll answer for you so you know my number is more like 2.5. Okay. So I'd probably shoot you back to point 5 and then you Speaker 2 or your broker would get all upset with me Speaker 1 but I don't care. That's fine. That doesn't bother me Speaker 2 and then you might Speaker 1 send me back a counter, right? And you might say me Speaker 2 a counter like let's say 3.2 or something, Speaker 1 right? And we're closer, right? But we're not quite there and that's Speaker 2 probably about the time that I send you a seller finance deal at 3 because I think you'd go for 3, right? Speaker 1 And maybe it works, maybe it doesn't. Maybe you're stuck on your number 3 .5. And if I have to come up to 3.5, that's fine, I can do that within within some parameters, right? But I'm going to want, you know, I'm going to want terms that are Speaker 2 Favorable for me. And I would say I would say to you or your broker I would say, Hey, listen. Speaker 1 Before I give you a, you know, Speaker 2 another counter offer. Speaker 1 I just want to let you know that if you change my price Speaker 2 or if you try to change my terms, I'm going to revise your price downward to meet my terms. Speaker 1 So Speaker 2 you know, do what you want? But that's it. I'm trying to set the expectation that, Speaker 1 right? And so, you know, from there, you know, might Terms are something like. Something below Market interest, right? So that might be, you know, two, three, four, five percent might be more, it might be interest only, you know, because that would that would lower the payments significantly and let's say it's 5% interest only. Well, that's really like making payments on. You know, a three percent payment, right. I do something. If it was amortize, I do something like a 30 or 40 year amortization, right? I would try to get Substitution of collateral or walkable debt. Right? I would you explain walkable debt Yeah. Essentially, when you get a no to mortgage a deed of Speaker 2 trust, it's recorded on a specific property or properties, right? So you know, in this case, a tertiary storage facility Oklahoma. Right. So, but if I do deal with Speaker 1 you guys and we Speaker 2 all agree that I can walk that debt, and what that looks like for you guys as sellers before you, you cringe at that. Idea, let's say you guys. Take back a note for a million and a half dollars to me. Okay, I'm going to come back to John and Frank and say, hey guys, this Speaker 1 is nice. But, you know, would you rather have a note a piece of paper, on a million half Speaker 2 dollars and know where Oklahoma or could I interest you in a note on a two million dollar industrial property and you know, Speaker 1 A sage on, you know, that's an extra. That's an extra five Speaker 2 hundred thousand of equity for you. If things went wrong, that money would be yours, would you be Speaker 1 okay with that? So, so I essentially I just I'm just taking the debt and taking it from your Oklahoma property to a new property and upgraded property somewhere else. I'm getting, I'm actually Giving you a better deal and we're just, we're recording the note on the on the industrial property in Tampa. And we're releasing the note on the tertiary Oklahoma storage facility. That makes sense. But I still owe you the money that doesn't go anywhere. So and, and to get a seller to agree to this. I think there is a theory that has to be a high distress environment. Do you agree with that? Or do you think a normal Cellar, under normal emotional conditions can agree to these terms. I would kind of wholeheartedly disagree with that. Let me ask you, John. Let's say I came to you and said, I want to give you more money or I want to give Speaker 2 you More Equity or Scout, give you more interest on a better property. Are you but like, how do you feel Speaker 1 about that? Yeah, let's let's do it. Like, real estate doesn't have to be adversarial, Speaker 2 right? It can be cooperative. Speaker 1 So you know, like listen, I'm I'm a dog. I will chisel right like, I will lowball you to death, true. Okay, but if you finance, one of my deals, Then I am going to upgrade you for life. Like I'm going to give you more interest. Speaker 2 I'm going to give you bigger Equity, right? I'm going to give you Speaker 1 tax efficiency. I'm going to put you in. I might take you from a second position, note to a Speaker 2 first position note, which is way better, Speaker 1 right? I'm going to upgrade you into a nicer property. So you know, as Beyonce says, let me let me upgrade you. I mean that's it, you know, like you know we pre agreed to everything up front, right. You know, like I'm not I'm not doing this to screw somebody over. I'm doing this to actually make a friend over time and that's what it kind of turns into it turns into hey you're making a friend. So Not yet. And who taught you this? Speaker 2 How did you actually learn all this stuff? Speaker 1 Bunch of guys down in and around Tampa where John has. So a bunch of this is like Speaker 2 single-family guys from the 60s, 70s and 80s and in around Tampa, guys. Speaker 1 Guys named Jack Miller Pete Fortunato Speaker 2 Jack, Shea Jimmy, Napier, John, Shope, he's down in Sarasota. These guys basically figured out how to slice Speaker 1 dice Deals Speaker 2 and they were you know they're mostly single-family deals. Speaker 1 But all of that, all a bunch of those Speaker 2 strategies work for Speaker 1 work and Commercial as well. They actually work a little, I Speaker 2 feel like they work a little easier in a commercial because commercial, you know, people in their houses they're all like this and their houses but the commercial deals are easier, people people are less. Speaker 1 You know, clenched fist about selling. It's Speaker 2 just a numbers thing for them. Very good and then Frank. I was going to ask because you mentioned Brokers before and I find that the majority of brokers in commercial now they're more open to it, but in normal conditions they don't like seller finance offers. Do you find that to be somewhat of a hurdle with them and if so, how do you overcome that? Speaker 1 Yeah. So what I would say to that is twenty eleven through Speaker 2 twenty, maybe 2012 through 2022, the last decade, or so, that's been the case. Although I would say there's always it's kind of like distress even in really great markets, there's always somebody in distress, even in great markets, there's always somebody that would rather save, you know, I don't know 15 plus percent on their taxes and just cash out instead of 1031, right? It's finding that diamond in the rough as far as Brokers go. Yeah. Brokers do like, Speaker 1 I still, I Speaker 2 always ask Brokers about seller financing and I can Speaker 1 Feel that hesitation on the other end of Speaker 2 the line when I'm talking to them over the phone or if I'm talking with them in person, Speaker 1 right? But I always ask because what's funny about Brokers is they don't always know what their clients need or want, right? Like and they may not have asked so you know, that's one thing that's important. The other thing is, You know, if they say no, that's fine, right? But there are a lot more open to Speaker 2 it now because it's 2023, right? If you look Speaker 1 at Speaker 2 transaction volumes and Commercial Real Estate, they're going down and Brokers got to live Speaker 1 too, right? And this is a way to get a transaction done. Get the broker paid. Get the seller paid and, you know, I'm not going in necessarily in saying, hey, I'm going to give you 10% down right now I might do that depending on the deal, right? But I might go in heavy and say hey I got 50. I'll give you 50 percent down like that makes that deal really safe. If I don't perform and you gotta and we agree on three million dollars. I'm putting 1.5 down. You're happy to see me fail, right? Because you got one, you got a million and a half dollars, you can sell your property again right now, you there might be some bumps in the road for that but I'll try Speaker 2 make it easy on you, so Speaker 1 they're good. And then how do you think of You know, this strategy takes a, you know, a capital stack Mastermind will say, right? Like you are The Mastermind, you can make this happen. So I think there's a lot of guys that continue to be deal guys that do this and they don't necessarily like build out a company. How do you think about that? Does it matter? You know, can you train a team of people to be able to do this? Or can you only grow as as large as you are able to function? Speaker 2 Yeah, man. That's all. That's a lot to unpack there, right? So I don't think I like, I've tried training people to do what I do, it doesn't work right now, there are Speaker 1 and listen, I'm just a guy. I'm not a Speaker 2 mastermind, like, they, like you're going to hear the guy Mowin. The lawn next to me, and you're going to realize that I'm just I'm just a dude, right? Speaker 1 But like, it took me years to figure Speaker 2 out all this stuff right? It's not something Speaker 1 like it's teachable and you can Speaker 2 figure it out right. But there's got to be a pretty burning desire to figure it out because it's like Speaker 1 well it's like a toolbox, right? And so, my toolbox, I try to put as many Tools in it as I can, right? So there's probably, let's just say I'm guessing, right? Let's say there's 200, Speaker 2 you know, Tools in my toolbox, right? And I Speaker 1 forget that some of them are there sometimes like Speaker 2 I'm like, oh, Oh yeah, I forgot about that one right but you know I didn't add all those overnight I had like one at a time you know it's you know and you just build up and you know you get you you hear the same objection over and over again and then you say to yourself okay? You know what is the move to overcome the objection, right? So you know what can I do to get this person to say? Yes, right. And in Speaker 1 Sometimes, you know, and Speaker 2 it's at the tip of your tongue and then other times you've got to figure it out or talk to somebody else that's been in that situation or whatever. Right? Speaker 1 But you know if, if you guys are fluid to selling your tertiary storage Speaker 2 facility to me, right at a price that works, your goal is to sell, right? That's the goal, right? If I come in and you Speaker 1 if you can't sell to me like you you can't sell to anyone if you can't sell the me like Like because I've got, I've got 30 Speaker 2 ways to put together that deal for you, right? Speaker 1 The question is, will you get frustrated with me and just decide to throw up Speaker 2 your hands before we get to the goal of the of closing the transaction, right? So, I actually agree. I think that actually is the biggest like problem with seller financed in my experience is eventually some sellers. Like I don't understand this and I'm getting frustrated with my own inability to understand this. I'm exiting this process. I feel like that is a huge reason that sellers bail out on these negotiations. So let's overcome that objection right here on the podcast. Okay. John and Frank would you rather sell your tertiary Oklahoma storage facility? Speaker 1 Or would you just rather lease it triple net to me and we'll just agree on a price that, you know, you guys decided a whatever you guys decide that's fine with me. I just, you know, I just got to keep the payment slow. I mean, if you were close to what I was letting previous via which assumes you, I think this assumes you Speaker 2 he's an operator right? If you're going to do something a triple that strategy. But I do like it because it's predictable, I Speaker 1 probably just start again. And frankly, Speaker 2 frankly, Frank I Speaker 1 wouldn't, I wouldn't be probably right now. You got to understand though, you guys aren't my target Speaker 2 sellers? We are only about 20 years, too. Young for that, Speaker 1 right? But in 20 years, Speaker 2 if I came to you and John and said, hey Speaker 1 guys, you know, you know what, if what's the Shangri-La of real estate? It's you know, it's a triple matter an absolute net lease. I have no management. I don't pay any taxes. I don't pay any insurance. I did pay. No maintenance, no capex. I don't do a damn thing. You get it and you guys would be like, well, you know, I take lettuce if I didn't have to do a damn thing especially if I was getting a high price. Well that doesn't sound. I mean you got it. You guys are 20 years too young and you're thinking about it, right? I mean yeah well Speaker 2 it's a good deal but then on your end if you're doing the triple net you ever do anything to like increase your Speaker 1 upside as part of that transaction. Like yeah I'm not gonna come after a deal, that's got no upside. Right? Like that's the thing. Like if there's no juice to be squeezed, then it doesn't work. Well, if there's no juice to be, squeezed it does work if there's walkable debt, right? So let's go back to the walkable debt for a minute. Let's say I could do nothing to increase in a why your Speaker 2 facility, right? Because Speaker 1 you guys are Speaker 2 and quite frankly you guys are better Speaker 1 operators. This is this is true. So because I got too much going on and you guys are focused and I'm like this, right? So what I would say is, okay, I'm going to buy what you're selling, right, and we're going to agree, three million. You know, we get down to three million, I give you half. Well, let's say I give you a million down and you finance 2 million, right? So you feel good and safe because I gave you a million Speaker 2 dollars, right? And that's a third, right? That's more the bank would take his fucking know, Speaker 1 so Then you know what? I might do is I might go call up another storage buddy of mine and sell it to them, right? Let's say I sell it to Speaker 2 them for three million Speaker 1 because maybe there's a little juice. They're a little upside. Okay, and I negotiated down with you guys a little bit, right? Okay, so so a closing what happens, right? Let's pick. Let's pick Ryan. Ryan from Redwood storage comes in and he buys that. Okay, let's say it all happens in Speaker 2 escrow, right? So Speaker 1 Ryan comes in the three million, he's got financing the first million ghost you guys. Okay. The second million, which you financed to me at three and a half percent for 15 years on a 30-year. Am that two million dollars goes in my pocket? I don't pay you a closing because the note is walkable, right? And so that's that's something that's different right? And so with that 2 million, I go down to actually good deal, right? Bye-bye. It's got upside and Speaker 2 I negotiated I negotiate hard for right. Speaker 1 But but that property let's say it's a let's see, I don't know. Let's say it's a retail Speaker 2 property. That's got a few a few spots, vacant, right? And I can fill it right Speaker 1 and but it's worth three million dollars just because as it sits right? Speaker 2 So I walk I go buy Speaker 1 it for to you guys aren't unhappy, right? Because I just took your two million dollar note and I secured it by a three million dollar property, so that's another extra million in equity. I paid you a million. So now instead of it three, you guys are really for, right? Ryan got a property that he likes, it's got a little bit of upside. Okay. And I got I got to buy a basically. I took that money that Ryan put in my pocket at closing and I got to buy something really good with that the cash flows like crazy. The financing is super. It's great financing, right? I'm going to cash flow. You guys are happy. You're going to get mailbox money. Ryan's happy. Is Speaker 2 getting a new property, you know, you've been Speaker 1 upgraded. Speaker 2 What's what's not to like? Speaker 1 So I'm going to recap that because I think Speaker 2 some people listening are like holy shit. That's a lot to unpack. So I think it's you're lying on seller financed. Then selling it on seller finance which I think it's short term condition. I don't sell it on seller finance. We Speaker 1 sell it for cash. Are you selling it for cash? Okay, so only for cash, but by having Speaker 2 walking debt. Sorry, I misunderstood that by having walking debt, you essentially, Our kind of securing an interest-free loan to a certain extent. Like you're holding on to liquidity and then you you buy the additional property. Is that is that Speaker 1 accurate? Yeah. So what's interesting about it Speaker 2 is is like the first property you guys is crappy. Oklahoma property doesn't matter to me, right? I'm happy to buy your crappy property with walkable debt because essentially I'm shopping for Speaker 1 financing. So, is this Speaker 2 financing right? Speaker 1 Is this is what's interesting about real estate is. It's not guys, it's not about the building, it's about the money in the financing. That's that's the thing people don't understand about commercial real estate. I like these guys like show me their buildings. I'm like, hey that's a great-looking building. Well, you know, a cash-flow sixty thousand dollars a year. Well you know, it's only a hundred thousand square foot Warehouse, you know, like that doesn't blow my skirt. Right. But if I can buy that same hundred thousand square foot Warehouse, with financing, that's way below market, right? And I know, I can get a good deal Speaker 2 on it and maybe I know I can raise a rinse or fill it up or Speaker 1 whatever. Right. Then then I'm going to kill Speaker 2 it. I'm absolutely going to slay it and it's all that's why it's all about the financing and the cash Speaker 1 flow. So have you I Umm, you've executed the strategy but did you actually go into some of these deals closing on these deals with the the upside being you know 90% plus just the financing that was in place knowing you could walk walk it right like are you doing these as targets of opportunity? Or are you doing these? Like hey I am actually closing this facility to lock up this financing and I know I'm going to walk it. Yeah, I do both. It just depends on the deal, right? Because it's, you know, it's I'm sorry about the lawyer answer but it's you know if there's no upside to the deal and I don't like that asset class then I'm going to move the I'm going to walk the mortgage of something else, right? If there is upside in the deal and I do like the asset class and I'll stay And how has your strategy evolved over the last couple years? And then kind of where where do you go from here? What is your portfolio going to look like five ten years from now? God, I don't know the answer. I hope that I hope it's Speaker 2 bigger and better but I lay awake and I think to myself. Oh man, there's probably a thousand things I'm screwing Speaker 1 out. Yeah. So Speaker 2 how is my strategy involved? Speaker 1 You know? The whole reason I'm on real Speaker 2 estate Twitter's to get smarter right? The to get smarter and work to write better. So Speaker 1 There, you know, there's Speaker 2 hundreds or thousands of people on there, the know something that I don't write and that are sharper in many ways, it's something that I am not, and Speaker 1 it's kind of Speaker 2 just a blessing to be able to interact and communicate with them. And, you know, quote-unquote pick their brain. Even though I cringe when I hear those words, right? Because I get, Speaker 1 Just to have my brain picked a lot. Yeah. So, you know, that's what I find fascinating about it, like Speaker 2 entrepreneurship, especially if you're a solo person, and I'm not a sellout. Like, I've got tons of Partners, but a lot of times, like I'm the guy running the ship, right? And, you know, I'm I sit by myself at lunch everyday in the middle of you know, flyover country America. And I don't get to talk to people that really bring huge value to the kind of stuff that I'm doing. And Speaker 1 so, yeah, I just, that's why. That's why I really, I find Speaker 2 real estate Twitter, amazing. So, I thought to be honest, I was going to ask why? Because your engagement you're working hard. Like you're putting out a lot of content on Twitter, you're working harder than I am. At least, that's how I guess I'm gauging it. I was like, is it going to sell a course like that? That was, the initial thought. I don't plan on someone with course so I don't really like to do things where I have to like Speaker 1 Do support and follow up, right? Like like the idea like I have to double-check contracts and that like that alone, drives me crazy. So double-checking my own work sounds tedious and awful. So the whole, you know, I thank you for saying that I put out a ton of Speaker 2 stuff on reach what but are on Twitter, but Speaker 1 that's off the cuff stuff. Most almost all of the time. You know, I might I might do Speaker 2 something a day ahead of time, but for the most part. Yeah, I'm just, I'm just Speaker 1 ice during covid, I sat there and I was like, man. All these people have, you know, 50,000 followers, and I think I've got as much to say as they do. Do and I thought to myself, I wanted to Speaker 2 learn to write better because my writings crap and yeah. So that was the Genesis for that. I was like and the other thing is like my mentor I was talking to him and he's like Casey you got it you know, you got to give some, you got to give back this knowledge to other people because he's 80 years old and he's given courses and all that. And I don't I feel a little uneasy about that but but Speaker 1 If you just hit up my timeline on Twitter, like, it's free, like, I don't tell you every single trick in the Speaker 2 bag, right? But there's, you'll be drinking from a firehose soon. I want to say, I hope Speaker 1 I could, I think it would be Speaker 2 hard for anyone to actually execute all the strategies you've laid out in one lifetime. Like it would be. It would be hard to actually pull it off. Speaker 1 If I have an executed, all of them. Like I know about them, but I haven't executed all of them. Like, but I think to myself, I know the De G and I know how to do it but I just got to find the right situation to apply it. Okay, well let's let's ask this then what's the Speaker 2 most creative thing you've ever done? Like what's the deal? You look back on your like, wow, I really I really one dots on that and I got pretty pretty Speaker 1 creative there. well like, I God Well here also, you guys are storage, guys. Speaker 2 I'll give you, I'll give you II. Did a deal. That was a hard money loan gone bad on a piece of commercial property, right? It with a part. He's a borrower of mine but he's also a great partner in her great, dude. Right. Like, and we bought this like ten acres and they're probably a be residential Area that was own multifamily, right? But I don't know, I'd been drinking too much that Speaker 1 day and said, yes Speaker 2 to a hard money loan on something Speaker 1 without a building, which is usually against my rules. But the drinking and this guy, you know, I thought I'll roll the dice and nothing was happening during covid. Anyway, so I was stretching, so don't stretch people don't stretch. Yeah, page. That's it. But so anyway, we buy this loan him, some money with two other partners Speaker 2 deal goes bad, can't find anybody to buy it almost foreclosed on Speaker 1 myself because Speaker 2 even during covid they were having foreclosure sales and I thought where can Speaker 1 I find a cash buyer auction real quick. Oh foreclosure sale. Oh well I'll have to take a discount but I don't care. So so if you ever need to get a cash sale quickly, it might be cheaper for you to not hire a realtor and just foreclosed on yourself, PS disclaimer, disclaimer, don't do that. You're probably not gifted enough to. Not that I am. So, but anyway, hard money loan gone. Bad almost foreclosed on myself, couldn't sell this property. Discounted it Didn't sell for two years had to buy out. One of my investors Speaker 2 guy calls me one day for another hard. Money loan on a Fix and Flip property gets to talking to me. I was going to fund his Speaker 1 loan. He says, hey I'm a commercial GC. I'm doing some other stuff. I'd love to do a storage deal. I said I've got the perfect thing for you, it's you know, it's Zone. Multifamily you get it rezoned you. Finance it, you build it. I'll tell you how to run a storage facility and and I'll sell it to you for half of what it's worth. Then and we'll just split and so him and his partner decided to do that. And I've recently posted some pictures of Scylla T getting built, and that's it. Oh wow. And so you know, the lemons turn into lemonade and yeah, it worked out but it was it was painful and I have since bought out my other partner and yeah. So there you go. So you sold it to me a good price but you still have. Are you still in that? Deal. Is that what you're saying? Am I still in that deal? I do Speaker 2 not own that deal but I do have I Speaker 1 am afforded some of the proceeds and avails your share co-chairs essentially. No, it's I don't own any of that Speaker 2 property but I do get some of the cash Speaker 1 flow. Okay, all right, Speaker 2 that's good. There you go. Speaker 1 Yeah. And some of the upside. Yeah. Well, you basically described you have Speaker 2 cash flow off of negative equity, right? Which is was deaf where you started right essentially? So that's Speaker 1 so that's not bad. I mean, you know, if you can get it, yeah. Good. Where can people learn more about some of these strategies? I think everything's on LinkedIn, isn't it? No. Yeah, so if you if you if you hit up Twitter, follow all OKC. Miracle at CA SE y, mer icle. Yeah, let's listen. All my stuff is free. I don't even have a link in my profile although I might I've been asked on all these podcasts now. So maybe Speaker 2 I'll put these podcasts and only come my profile. Speaker 1 But yeah, I don't, I don't sell anything. I Speaker 2 don't try to really raise money. Well, I feel, I feel that you cited Speaker 1 about that. Yeah, but I'm just, I'm looking for friends and allies. I'm looking for smart people who say sharp things. Speaker 2 I love to have a good time on there and I don't have much of a give a damn. So there you go. Speaker 1 I like it. Your great breakfast. 82. Appreciate you going to breakfast me when you're here in Tampa? Hopefully, come back up. We have to do it again. Same thing. Well, I'm working on something in Tampa Speaker 2 so you never know. You might see me Speaker 1 again. I like it. I like it are. Any final words of wisdom, Casey, I don't know man. Final words of wisdom cheese. I'm not like a guru sitting on a mountain. Like you know, I might go clean out a storage unit today. Just like it. Take Speaker 2 a picture for you guys, so Yeah, I don't know. Speaker 1 Like so words of wisdom I would say let's see. Buy Low. If you can if you can't buy high with great financing, how's that? That's classic? That's good. That's times. Good treatment. Hey, thank you. Casey, Speaker 2 for coming on and thank you told listeners for tuning in. We'll see you guys next week. Peace.