Jon Schoeller: So all in all, we’re back into, we’re into contract about $155,000, they went a little bit at closing, I think we ended up selling for about $153,000. I don’t have the notes in front of me. But it was a cash offer, at that.
Chad Duval: Oh, wow. Okay.
Jon Schoeller: Yeah, so it was a full-cash offer, so they got a settlement from somewhere, that might have been why she was in the wheelchair. I don’t know the whole story. But they got the settlement. So we closed in about two and a half weeks, which is pretty quick these days.
Chad Duval: Yeah.
Jon Schoeller: And net profit total of the company was about $30,000, give or take, and $10,000 to reenter now, and a $115,000 in about two months.
Announcer: This is Start FM. Now, here’s your host, active real estate investor and entrepreneur, Chad Duval.
Chad Duval: So what’s going on, Jon? Welcome to the show. How you doing today?
Jon Schoeller: Pretty good, man. I appreciate you having me on.
Chad Duval: Hey, no problem, man. No, we’ve been going back and forth. For everybody, met Jon a little bit, a couple months ago, through Instagram. We’ve been going back and forth, kind of observing from afar, and thought we’d bring him in on the show and kind of dig under the hood a little bit and understand a little bit more about what you and your partners are up to and see if we can bring some value as to the listeners and see if we can help them make that plunge into real estate. So, with that, I’ll jump in, let you jump in here and introduce yourself, and then we’ll go back and maybe unpack a little bit of your first deal and some of your current deals and see if we can pull out some nuggets.
Jon Schoeller: Awesome. Well, as you said, my name’s Jon Schoeller. I live here in Charleston, West Virginia, currently. We’re not always from here. We’re from Charlottesville, Virginia, but we moved here recently for my wife to go to doctorate school for nurse anesthesia at Marshall University. Then I joined up with my partners now, and we run a flipping company, a rent-to-own company. We have an in-house HVAC company downstairs. We’ve built quite a lot over the last three years. They’ve been going for about six, seven years now. Yeah, we’ve flipped over 100 homes here in the area, and that’s what we’re doing.
Chad Duval: Wow, wow, that’s crazy. So that’s out of how many years you’ve been doing it you said? A couple years now?
Jon Schoeller: So myself, I’ve joined up, my partners have been with A&M Investments, that’s the company that we have, and they’ve been at it for going on seven years, I believe, and I joined up a little over two and a half years ago. It’ll be three years at the beginning of next year.
Chad Duval: Wow, that’s awesome, that’s awesome. So I’m assuming, are you doing it, you’re doing it full-time then, right?
Jon Schoeller: Yes, mostly. I also own a gym here. That’s my own investment with my wife and two other partners. And then I have Jon Schoeller Consulting, where I consult with businesses and individuals, basically on their finances.
Chad Duval: Oh, nice. Okay. Wow, you got a little bit of everything going on. I like it.
Jon Schoeller: Yes, that’s-
Chad Duval: I like it. Very cool. Cool. Well, so let’s pivot into that first deal. I know, so it might be a little bit different. I guess, because you have partners and they’ve been in it longer than you and then you joined them three years ago, maybe we can get into maybe one of the first deals that you guys worked on together, and see if we can dig into that a little bit. Because, like you said, they’d been doing it for a little bit longer, and they had other things going on, so yeah, let’s dig into that first deal that you did with these guys.
Jon Schoeller: All right, so the first deal would have been in Mt. Vernon. That’s my first deal I did with them as me as the investor. So, understand that the way we’re primarily set up is we take investors’ money, we put it in the house, and we give you a return on your investment. We either give eight or ten percent annualized, or you can do a 33rd percent profit share at the end of the deal. We just started the eight to ten percent annualized thing, so most every deal prior to probably six months ago has been 33% of the deal goes back to the investor. So, up to this first deal that I was going to invest on, we’d done several houses together at this point, but this was going to be the one I invest on, so it’s our first deal, or my first deal.
Jon Schoeller: So we went to see this house, and it was huge. It was almost 3,500 square foot rancher with an in-ground pool. The house from the outside was beautiful, but the inside was … One of the rooms was urinated all in by a dog, and so the wood itself was bowed up from so much pee. The carpet was from like the ’80s. The kitchen was probably like the late ’80s, early ’90s. It just wasn’t going to cut it. But we were getting it for such a good deal. This house, if it was completely finished, was probably worth about $250,000 to $280,000, and we were [inaudible 00:04:26] it for $115,000. The lady just wanted to move. So we were out in the driveway. We were contemplating the deal like we always do, and we started talking like, “Who’s going to be the investor on this?” And I’d been with the company for about, I’d been with Andrew and Steve now for about three months at the time, I want to guess, and I said-
Chad Duval: So were you just working with them without putting your own money in the deal? Is that how it kind of worked into this transition?
Jon Schoeller: Right, with the first three months, you got to understand, this is a really weird set up, how we joined up. I mean, we had no plans of being together. I moved here and I just asked to shadow them because they were doing what, I wanted to get into real estate, they were already doing it. I said, “Can I shadow you?” They said, “Yeah, sure.” I went to shadow them, Chad, and i never left.
Chad Duval: That’s crazy.
Jon Schoeller: Yeah, you fast-forward two and a half years, I’m now CEO in the company and we’re all partners doing this together. It’s a story that’s like, it’s almost a whole other podcast, how that story worked out.
Chad Duval: Yeah.
Jon Schoeller: Yeah, I needed them, and they needed me, and it just worked, and our personalities … It wasn’t easy. Partnerships are never easy. I want to put that out there. They’re never easy. But it worked, and we’re still working on it, and it’s going great. But anyway, let’s get [crosstalk 00:05:34]-
Chad Duval: Yeah, yeah.
Jon Schoeller: … it’s hard. Let’s go back to the deal. So we’re sitting out in the driveway, and I said, “Guys, I think I’m ready.” And they were like, “Really, Jon? That’s $115,000.” Now, keep in mind, I used to flip motorcycles and mattresses and stuff like that, but I … I had a warehouse where I bought a truckload of mattresses and sell them, but I’d never done an investment of this scale. So I said, “I’m really risking for us all, so I’m scared.” They probably didn’t know I had this amount of money because I wouldn’t tell people. So I said, “I think I’m ready.” And they were like, “You’re going to put a $115,000,” sorry, it was $110,000. I went in reverse. It was $110,000, $115,000, $116,000’s what we ended up with in it. Sorry about that. So it was $110,000, and I said, “Let’s do it. Because we’re not going to do a full flip on this,” and that made me feel more comfortable.
Jon Schoeller: All we were going to do was go in there, fix that wood, clean up the carpet, clean it really well, and then my goal, which I didn’t tell them at the time, was to get that swimming pool looking like a resort swimming pool. Because I knew, it was almost summer, it was getting hot, I said, “That’s what people will want this house for.” I said, “On the contingency that I get to project manage it, I’ll invest on it.” And they said, “Deal. No problem.” So, bought it $110,000, got in there, got some contractors in there to clean some stuff up, fix a few windows, clean [crosstalk 00:06:47]-
Chad Duval: So it was basically cosmetic stuff, basically. It wasn’t like broken doors and windows, like you weren’t-
Jon Schoeller: It had a little bit of that, a very small amount. There was a couple windows, and the really bad floor, and the pool was green. It was green and only about three feet deep. It was a nine-foot pool.
Chad Duval: Okay, I got you.
Jon Schoeller: So it was … You could live in it. You could live in it if you were okay with it not being completely rehabbed.
Chad Duval: Okay, I got you. Okay.
Jon Schoeller: So what we thought is-
Chad Duval: No, just paint the picture, yeah, I totally can see where you’re coming from now.
Jon Schoeller: Right, so this actually was the house that kind of started a huge thing for us, and we call them whole-tails, or just basically we started a whole other company called Elevation Investments, where we let people buy homes with a ton of equity in them. “Look, it’s not going to be completely done. This thing’s not going to be completely done and sell at retail price. But you can come in to a decent house in a nice neighborhood and have a lot of equity there and then work on it as you go, but it’s an equity play.” And now, not everybody’s going to want to do that. Most people, they want the shiny new car. They want the shiny new house. But some people will see the value in doing it themselves, and that was our goal with it. So I actually, I called a few pool people, and they wanted like $3,000 or $4,000, and I said, “You know what, I got a better idea. I’m going to go the pool place myself, and I’m going to talk to the guy at the register and say, ‘Hey, do you know anybody that cleans pools on the side?'”
Chad Duval: Oh, there you go. That’s smart.
Jon Schoeller: Well, the guy at the register goes, “Well, actually, I clean pools on the side.” I said, “I tell you what, you want to make a little extra money? Come out to this house when you get off work today, and give me a quote on making this pool look like it’s the best pool in all of Charleston.” I had gotten $3,000 and $4,000 quotes, that’s for water and algae and to fix the motor and all that. I think I ended up paying him total maybe $600.
Chad Duval: Oh, wow. Holy cow.
Jon Schoeller: And he bought the parts for the new motor.
Chad Duval: Wow.
Jon Schoeller: But keep in mind, that’s $600 to him for about five, four or five hours’ worth of work, so it’s over $100 an hour, when he’s working at the pool store making maybe $12 an hour. So be resourceful, people. That’s a tip real quick. Be really resourceful. Don’t take the first quote, and understand that somebody out there will always do it for cheaper, but also remember you have to manage them a little bit more. Be careful how cheap you get. So anyway, fixed the pool up, and here’s the fun part. We put it, I said, “I don’t want to put it on the market. I don’t want to lose the realtor fee. I want to keep my money.” And they said, “Good luck. Good luck, man. “Open houses and that doesn’t work here,” my partners told me. Well, I had about 30 people out there the first day. Nobody put an offer in. Second day, 10 people came, offer, full-price offer.
Chad Duval: Whoa.
Jon Schoeller: I called agent Steve, I said, “These people want to buy it right now, full-price offer. They’re ready to go into contract right now. They don’t want to lose the house.” I think we were asking $160,000 for it. So, but keep in mind we were only in it for $115,000, $116,000, this isn’t bad, for my first deal.
Chad Duval: Yeah, oh, my God.
Jon Schoeller: And we have no realtor attached.
Chad Duval: Right.
Jon Schoeller: So I said, “Deal. We’ll put you in contract.” And then that evening, I went out to a friend of mine’s house, to the pool, and they literally backed out five hours later.
Chad Duval: Oh, no.
Jon Schoeller: Got home, the husband was talking … Keep in mind, I’m on cloud nine, and now they just called and backed out. I’m at this cookout with some friends, and now I’m like, they can read my face. I’m like, “Oh, no. It’s something bad. Something’s wrong with the house. Nobody’s ever going to buy it.” These are things that start playing in your head on your first investment because it’s scary. So I tell everybody the story. That night, I’m sitting in the shower, and I called my wife in, I said, “Babe, I’m so sorry. I lost our money. I’ve messed up. I’ve made a poor investment. We’re not going to get our money back out of this thing. We’re probably going to lose. I could sell it probably really quickly for $100,000, we lose $15,000.” And she was like, “It’s only been like a month.”
Jon Schoeller: It’s like, but I’m freaking out because they backed out. So they backed out because they got home, and the husband talked about it and said it was just too much house for them. And I was like, “Why’d you go into contract? You should have talked about it first.” So now we do another thing too. We’ll take contracts quickly, but we really want you to think about it for 24 hours.
Chad Duval: Yeah, totally. Yeah, no, that’s a good idea.
Jon Schoeller: Yeah. So the next, so about another week goes by, did an open house, nothing again. And then this people call out of nowhere, and they want to come see it, and one of the individuals is handicapped. Well, just by chance, this rancher has huge hallways in it. Fits her wheelchair just fine.
Chad Duval: Oh, nice.
Jon Schoeller: All the way up and down. And they love the pool. So the pool play worked. They were like, “Oh, my gosh. Yeah, I can roll my wheelchair right out to the pool, hang out, watch the grandkids and all that.” So they put in a full-price officer contingent, officer, full-price offer contingent on an inspection. Did the 24 hours, let them go into contract, they did their inspection. There was some problems with the chimney. So they said, “Look, we have somebody that can fix this, but it costs about $5,000.” So, all in all, were back into contract, we’re into contract about $155,000. They went a little bit at closing. I think we ended up selling for about $153,000. I don’t have the notes in front of me. But it was a cash offer, at that.
Chad Duval: Oh, wow. Okay.
Jon Schoeller: So yeah, so it’s a full-cash offer. So they got a settlement from somewhere. That might have been why she was in the wheelchair. I don’t know the whole story. But they got the settlement. So we closed in about two and a half weeks, which is pretty quick these days. And net profit total of the company was about $30,000, give or take, and $10,000 to re-enter now, and a $115,000 in about two months.
Chad Duval: Wow, wow, that’s a pretty good first deal.
Jon Schoeller: Yes.
Chad Duval: But yeah, I’m sure you just took everything that you learned over those couple months of working with the guys, and just finally able to put in an action, that’s a pretty good deal. Man. Yeah, so you basically whole-tailed it, sold that off. Do you, so you said that you didn’t use a realtor because you wanted to save the commission fees. Now, looking back, now that you’ve been doing it long enough, do you still do that, or do you, and do you recommend newbies try and go that route?
Jon Schoeller: Yes, for the individual, per individual. So I got a bunch of different reasons I do it, and it’s not the best because my partner Andrew’s wife is our realtor, so any time I dodge her, she’s … We’re all friends. We’re almost family now. But any time I dodge her, she’s like, “Thanks a lot.”
Chad Duval: Yeah, yeah, she feels like she’s being-
Jon Schoeller: Right? Because I’m pretty much, yeah, but keep in mind, we do about 30 houses a year, 40 houses a year, so there’s plenty to go around, and I only do this on maybe two to three houses a year. So the house has to be really good-looking, have nice curb appeal, for me to spend my time doing this. So it has to have nice curb appeal. Usually, I have to be the investor on it, so that’s a little bit selfish. But, I mean, our other investors, if they want to come out and try to sell it themselves, they’re welcome to. It takes a lot of time. It’s a big gamble. The other one is the margins have to be large, and it has to be in an area now … This first one I did was a 30-minute drive from me. But, keep in mind, it was my first deal. I was trying to get every dollar.
Jon Schoeller: Now it has to be close to me. Because you’re meeting people all the time, sometimes they don’t show. But my background is sales. I am a, I’ve been, I’m sales at heart. I’ve been doing it for 10 years. So if you aren’t comfortable talking to people, if you aren’t comfortable walking them through the home, if you aren’t sales-y but not pushy, then this is probably going to waster your time. You’re probably not going to get this house sold. You’re not going to have the patience. You’re not going to know how to talk to people. Please go read How to Win Friends and Influence People about three times before you try this on your own. And it-
Chad Duval: I actually think I have that right here on the back-
Jon Schoeller: [crosstalk 00:14:17]-
Chad Duval: … on my bookshelf here. Yeah, it’s a good book.
Jon Schoeller: So do that, but also give yourself a limited amount of time. So mine is, now it’s one weekend. So, if I can’t sell it in that weekend, give it to the realtor. But it’s always going to be worth about a $5,000 to $8,000 savings, depending on the house, for me to go out the house for about two to four hours, and try and sell it. [crosstalk 00:14:39]-
Chad Duval: It’s a good return on your time. Yeah, for sure.
Jon Schoeller: [crosstalk 00:14:41]-
Chad Duval: But if you’re spending, yeah, if you’re spending a full month on it, going back and forth a couple times a week, I mean, it’s way worth your time to keep looking for more houses, and that’ll make you more money than trying to, yeah, flip a house or sell the house.
Jon Schoeller: Exactly. So that was my first deal, and I did that. I went back and forth for a month. Now, we still probably saved about $8,000, so it still paid off. But if nobody bought it, I wasted a month. It was a gamble, and I could have been looking for more homes, but that’s the benefit of being in my partnership. We have-
Chad Duval: Is they were still continuing to do that while you were-
Jon Schoeller: [crosstalk 00:15:11]-
Chad Duval: This house.
Jon Schoeller: Right.
Chad Duval: Yes, that’s an awesome little caveat there, for sure.
Jon Schoeller: Right. Also, I don’t have kids, so my weekends and evenings are freed up. My wife’s completely understanding, she’ll go with me. So a lot of people can’t do what I was doing.
Chad Duval: Right, right. Yeah, no, that’s a huge benefit, for sure. That’s kind of how me and Holly are too. She can, she’s a little bit more empathetic towards things because, yeah, we don’t have kids or anything, you know what I mean, so it kind of works out good, but … So, okay, perfect, so we got into that first deal, a little bit of nuggets there about saving some money on realtor fees, making sure that it’s at least a return on your time, is greater than actually hiring somebody. So that’s, that makes perfect sense. So yeah, and that was right there in Charleston, or Charleston, is that where it, in West Virginia?
Jon Schoeller: Yes, it was in a place called Teays Valley, or Hurricane area, which is about 25 minutes outside of Charleston. But we operate within the Kanawha and Putnam areas, which consumes Charleston and probably about another 10 other little cities.
Chad Duval: I got you, okay. Perfect, perfect. Now, I’m just curious because I like to ask a lot of people in different parts of the country to kind of, some sort of market feedback on that type of area of the country. Because I know right here in Boston it’s insanely expensive. It’s like rents are going up every month. There’s cranes everywhere. We’re busting at the seams. And I was just curious, how are you seeing things going on down there? Is it still hard to be flipping and doing what you’re doing right now with these whole-tailing and that sort of thing, or is it getting harder and harder?
Jon Schoeller: We, we are in a pretty good position, I would say. I’m a little bit skeptical a little bit. I always will be, just how I play. It’s what I bring to the partnership. They actually needed that, and I needed some of the positivity, kind of meet in the middle. Not that I’m a negative person, I’m just always questioning things. I’m a real numbers guy, and I always want to plan for the worst, and if the best happens, awesome.
Chad Duval: Right, right.
Jon Schoeller: Right?
Chad Duval: Yeah.
Jon Schoeller: So that’s how I operate. So we kind of have a hold on the market here. I would say if we’re not the biggest, we’re in the top three to five biggest real estate flipping companies in the whole state.
Chad Duval: Wow.
Jon Schoeller: So, I want to say we’re the biggest. We’ve done well over 100 homes, and we hold anywhere between 15 and 30 properties at a time, and we have another 100 homes in rent-to-own. I got to say, we’re one of the biggest players in the game, not for sure, but I would think so. With that being said, our competition usually comes to us first to learn the game. So we’ve actually breeded, if you will, our own competition, not to a fault, we’ll help anybody. But of course, every person we teach-
Chad Duval: Oh, yeah, goes-
Jon Schoeller: … has the potential to [crosstalk 00:17:54].
Chad Duval: … and does their own thing. Yeah, absolutely. Yeah.
Jon Schoeller: Right. So that’s happened to us at least two or three times now. We’re happy for them, and we’re still friends with them, but it does breed some unnecessary competition. But it’s a catch-22 for us, and there’s … I never want to operate from a, what’s the mindset when there’s not enough?
Chad Duval: Oh, yeah, it’s-
Jon Schoeller: I can’t think of the word.
Chad Duval: … the opposite of abundance, yeah.
Jon Schoeller: Probably … Yeah, I can’t think of the word right now, whatever it is.
Chad Duval: Yeah, I can’t either.
Jon Schoeller: Right. I never want to operate from that mindset, so we’ll teach as many as we can. But what we’ve learned to do is keep some of our secret sauce or our secret recipe to ourself, and there’s nothing wrong with that. We’ve worked really hard for it, and I think that that’s something, you always keep the edge. If the teacher teaches the student everything, then you’re no longer the teacher.
Chad Duval: Right, right, exactly.
Jon Schoeller: So, with that being said, we’re in an area where, Chad, we can buy houses for $10,000.
Chad Duval: Wow.
Jon Schoeller: We can buy houses for $10,000. That $110,000 deal, that first deal, that was a 3,500 square foot rancher with an indoor pool, I mean, with an outside, in-ground pool in a very nice neighborhood.
Chad Duval: Yeah, that’s a big house.
Jon Schoeller: I mean, that house in, if that house in Boston would, I’m guessing, but it would, no less than a half a million.
Chad Duval: Yeah, oh, yeah, absolutely. Absolutely. Yeah, you’re pushing probably three-quarters of a million, for sure.
Jon Schoeller: Right.
Chad Duval: But …
Jon Schoeller: Another thing with our market is, we don’t get a lot of appreciation. So you’re not going to buy here for a hundred grand at retail, and hope it’d be $120,000 in a year or two. It’s just not going to happen. Maybe the small pockets, really small pockets, but very unlikely here.
Chad Duval: Yeah, so you’re-
Jon Schoeller: But what’s-
Chad Duval: Yeah, that’s kind of how we are too, like when we’re investing in New Hampshire, it’s all for the cashflow. There’s not that … It’s flat to just like 1% to 2% a year, super-small, just enough to hedge against inflation. But yeah, we’re in the same type of market as that, so we’re not really familiar. I mean, I live here in Boston, but I don’t invest in Boston because it’s too much. It’s too expensive.
Jon Schoeller: Right, right, right. Yeah. That’s my hometown, Charlottesville, Virginia. I can’t invest there. I have a lot more money than I had when I lived there, and I still can’t touch the real estate there. It’s not that I can’t. I could, but I could do like one or two at a time, and at this point, it’s speculation for me because such a bubble, blown up so big. And I don’t want to call it a bubble. I hope it continues to do well. But you never know. When it goes that fast, that far, it scares me.
Chad Duval: Absolutely, absolutely. So I’m curious, too, so when you’re doing all of these, you did that first deal, you said you brought your money to the table on that deal. Where are you guys getting most of your funding these days? Is it just from you guys, or do you guys, well, you said you had investors, that’s right. So you have a pool of people that you can go to and dip in to every time, is that what you’re doing?
Jon Schoeller: Yeah, so we’re extremely fortunate again to have only had to use all private money.
Chad Duval: Okay.
Jon Schoeller: And we’ve had up to $5 million out at a time. Not everybody has that, I get that, but a lot of people don’t look hard enough for it either. I bet most people, not most people, sorry, I don’t want to say that because I know I don’t have anybody. Some people might have a friend or a family member right now with $1 million in their retirement account making 3%.
Chad Duval: One hundred percent, yeah, mm-hmm (affirmative).
Jon Schoeller: And you could refi that for them, and you never ask.
Chad Duval: Right, right. Yeah, no, that’s so, it’s so true. I mean, you never know. I mean, well, and the thing is a lot of people don’t realize that they can tap in to that stuff too. They think it can be, it has to sit there until they’re 65. Well, you can actually, you can pull from that if you invest it in real estate, so yeah, that’s a good tip for everybody. Did the, so how, so let’s try to figure out a way to kind of bring some value to people who don’t have a pool of investors. I know you should ask friends and family. You have to get over that hurdle of being afraid to do that. Where did your partners originally start getting their funding from, and how’d you guys start building that? Was it just literally just hand-to-hand combat and just asking everybody you know? Or did you have one, I know I’ve heard stories where there’s one person that you find, and then that person has five people that they, “Oh, this guy did well on me,” and then it slowly grows from that one pivotal person. There’s certain different scenarios. I’m just curious on how you guys started to grow that because it’s almost like a chicken-and-egg type of thing. You can’t do a deal without money, but you can’t do money without a deal, that sort of thing.
Jon Schoeller: Right, right. It’s like the old thing where you’re trying to get a job but you don’t have experience, and you need to experience to get the job. Right, right. So that would probably be, and I think they would attest to this, that Steve and Andrew’s biggest value add, outside of themselves, out, would be, before I got there, Steve was project manager, he was a contractor. They didn’t have the company at first. He was a contractor, project managing a huge apartment complex, I want to say it was like 40 or 50 units, for a very wealthy individual. Well, he did really well on it. And then Andrew and Steve met up because Andrew was just wholesaling at the time and wholesaled a project to Steve, and then they became friends, and then they just started doing this on their own. And then Steve brought with him this large investor to start one of these deals. Now, it first started off, like any smart investor, started off where this wealthy individual, I’ll just say his first, his name’s Jim, for the story, Jim would go look at these properties and inspect them and then invest on them, and he maybe would do three to four at a time. And then that grew to 10 to 15, and then to 20, and then now, Jim no longer even looks at the properties.
Chad Duval: Yeah, you build enough track record.
Jon Schoeller: You build a reputation.
Chad Duval: Yeah, a track record, exactly.
Jon Schoeller: Right. You just send him an address. You send him our budget. And he goes, “Looks good to me.”
Chad Duval: Hey, guys, sorry to interrupt this episode, but I wanted to ask you a huge favor. If you’re enjoying this episode so far, or you’re a big supporter of the podcast, can you go to the Apple Podcasts app and leave a rating and review for this show. I didn’t realize how easy it was until the past couple of weeks I’ve been going in and rating and reviewing all of the podcasts that I actually listen to on a daily basis, and it’s super-easy. If you just go to the show in the app and scroll to the bottom, it’s literally two clicks. All you have to do is click on the stars to leave a rating, and then there’s a area there where you can actually leave a comment or a review on the actual show. So I would love your help. Leave some feedback, and it’ll only help the show grow. And appreciate you guys listening, and let’s get back to the show.
Jon Schoeller: So now, what happens is people start seeing you flipping and you start going to these meetings, and they start getting your reputation, they start hearing about your reputation and your experience. And then other investors, money will eventually find you. Money’s always looking for opportunity. It’ll eventually find you, but you got to get your name out there. So build a Facebook page, another thing Andrew did. Huge. We have over 11,000 followers in our local area on our Facebook page. People see us doing this, and they go, “Well, I want to get my money working in there.” And so that’s all it is. Now, you’ve got to be careful. You can’t advertise for investors because you got to be SEC-approved, and then you got to have a fund. We don’t do all that. It’s friends or family only. You have to have a prior relationship with us. Please, everybody listening to this, be careful with advertising for investors and saying numbers. You can get in a lot of trouble really quickly.
Chad Duval: Yeah, definitely, no, and right, you got to keep it … I mean, at first, I think the easiest way, yeah, friends and family, and then once you start building that up, I mean, who knows, maybe someday you guys will run out of that capital and have to advertise, but yeah. Okay. So-
Jon Schoeller: Well, we [crosstalk 00:25:18].
Chad Duval: You are? Okay.
Jon Schoeller: Yeah, we’re looking now, we’re talking to banks. Eventually you start leveraging the bank’s money, and it’s hard to find 5% interest through a private investor. You probably never will. Same thing [inaudible 00:25:29] money. You’re going to go even higher. So you’re going to go to the 10% to 12% range. So banks are great. They have their limits, but eventually, you build a good enough reputation, we call it signature money. And basically, you walk in, sign your name, and they give you the money. That will eventually happen for you.
Chad Duval: Right, right. But you got to, like you were saying though, you got to put in your time, keep working your butt off, and, because it’s similar to how your partners got started. One of your partners started doing a good job for that property, managing it, all that stuff. People took notice of that, started building a relationship, took some time, brought another partner in that brought in a whole different side of things, with the wholesaling. And it’s kind of like with you. You started just shadowing and slowly building up these relationships, and then over time, as you start proving yourself, it makes it easier and easier to find this money. It’s very, very interesting. So what do you have going on these days? What’s some sort of, I know you’re doing a lot of flips and stuff like that, and you’re doing some, are you doing any holding, like you said you have some rent-to-owns? Let’s dig in to a little bit of that side of the business.
Jon Schoeller: Okay, so basically, A&M Investments is our flipping company. We have a few rentals in there from deals that went south on us. Keep in mind, we’ve done over 100 properties, you’re going to have some losers. I don’t care who tells you they won’t. They’re going to have some losers. Now, what we’ve done for our investors is never lose them a dollar. We always get you your capital back. So you’ve lost opportunity, but you’ve never, you didn’t, you got all your money back, but you didn’t make anything. And that’s happened on less than 5% of our deals, right, so called five houses out of 100. So we rent some of those, and basically what we do with that [inaudible 00:27:06] is we rent, those are our holdings, we rent those in A&M, and basically what that does is allow us to get that capital back that we might need to bring to the table for about a year or two, and then we get the investor all their money back.
Chad Duval: I see, okay.
Jon Schoeller: So we give them two options. Would you rather lose a little bit on this property, or do you want to give us a year to recoup it, get the house sold, because now we have a bunch a capital from renting it, but if you rent it for $1,500 a month, you can stack $12,000 in a year. That helps a lot. So you can lower the price or asking price at the end of a year, or get you that money back, whichever one you want. So we have those few holdings. Then we have A & C Properties. This is the, probably the brainchild of Andrew, my partner, Andrew, where he started doing this even before he was with Steve, and that’s basically finding a seller that doesn’t have enough equity or in a house, in a location where you’re not going to sell the house, we say, “Hey, we’ll take over your mortgage and take over your insurance. We’ll do all that. We’re going to bring in another RTO person.” So we’re basically RTO-ing to RTO. This gets very tricky. Make sure you can do it in your state. There’s rules and regulations. I’m not, just, I’m going to give you the brief breakdown.
Chad Duval: Yeah, sure, yep.
Jon Schoeller: So we say, “Look, we are, we want to rent to own this from you. We agree on a price.” So let’s just say, let’s do an example. Miss Smith has a house, and she’ll sell it to us for $100,000, or, sorry, no, usually it’s just payoff, 95% of the time, they just want out of the house, and they can’t sell it, and they don’t want to rent it. They don’t want to be a landlord. So Miss Smith owes $50,000 on this house. Miss Smith owes $50,000 on it, and her payment is $350 to the bank. So we take over all that. We agree to go, we agree to pay off her house, and we agree to the $350, cover the property tax and everything. Utilities, you name it. She never has to worry about it. And then we bring in an individual, call him Mr. Smith, and we sell him the house for $65,000, at $500 a month, on owner financing. So now we’re going to make the $15,000 spread, which we usually get some of that upfront in a down payment, [crosstalk 00:29:07] the $10,000 down payment. And then we’re also going to make the cashflow spread because we only owe the bank $350, he’s paying us $500, so that’s a $150 cashflow to us.
Chad Duval: Right, with no, you don’t have to manage anything, pretty much. That’s awesome.
Jon Schoeller: No. You manage the people. You don’t have to manage the property, which is great. It’s 100% their property after they move in. Anything breaks, they’re responsible for it. Downsides, the individual that we bring in is supposed to refinance within one to two years. We don’t promise it, but it is part of our sales pitch. That’s our goal, doesn’t always happen. So now individual A, that showed us the house, may not be able to get another loan because they’re, that house is still in their name.
Chad Duval: Yeah, so at that-
Jon Schoeller: Keep in mind, we got [crosstalk 00:29:48]-
Chad Duval: At that point, would you guys jump in and buy them out, and then just keep leasing to that guy? Like if they, if tenant B couldn’t requalify to refi out the previous owner, would you guys then at that point step in, pay the $65,000 or whatever, and then that guy would just continue to rent from you, or what does that typically happen when that doesn’t happen?
Jon Schoeller: We’re finally in the position where we can start doing that, but this was a learning curve like anything else. So we have several houses at the beginning that there’s just not enough there or we used the down payment because it was operating income, so there’s not enough there for an investor to come in. So the people [inaudible 00:30:27], hey, we don’t lie to them or trick them. We tell them it’s a possibility that it never refinances, that we got to get another … Because, keep in mind, we usually go through two or three tenant Bs. It’s just the name of the game. It just is what it is. I want to say it’s a higher-risk, [inaudible 00:30:44], it’s a higher-risk, more-management business.
Chad Duval: I see.
Jon Schoeller: Don’t get into this, not for the faint of heart. Sometimes you’re dealing with class C, class D. So just be careful-
Chad Duval: Oh, yeah, so, okay, yeah, so that makes perfect sense. So if you’re going to go through a couple of them, all that you’re doing is, yeah, you’re doing a rent to own contract with them, and if they do not qualify to refi, then they basically have to move out, I’m assuming, it’s like a breach of their contract with you guys?
Jon Schoeller: Recently … So it used to be indefinite. It used to be just like, “As long as you’re paying rent, we don’t care if you ever refinance.” Well, that was too much pressure from tenant A.
Chad Duval: Absolutely, yeah, I can see that.
Jon Schoeller: Tenant A’s like, “Get my house sold. I need my house sold.”
Chad Duval: Right.
Jon Schoeller: So now, we have [inaudible 00:31:23], we are almost like, we almost like a bank in our company. We have a credit repair company. You have to sit with me, as I’m a financial consultant. You have to show us proof of income. It used to be you come in with enough money-
Chad Duval: You were good.
Jon Schoeller: … for the down payment, come in with the down payment and show that you’re at least working, and we were good. Because we didn’t care, because if you … But now tenant A’s putting pressure on us. So we’ve gotten better. Just like any other company, you evolve. So now, especially if it’s one of our nicer homes, you get one year. And you have to agree to that. So here’s the upside for us is that we’ll often get a $10,000 or $15,000 down payment that’s non-refundable.
Chad Duval: Right, exactly, even if they do walk, if they have to walk, you made $15,000 for nothing.
Jon Schoeller: Plus the cashflow, all year. Right. So we’ll do it again. Now, here’s one more part, so I just want to be open with this whole thing, you don’t manage, you’re not responsible for anything on the property, but they can also kind of do what they want. So if they paint the whole house pink-
Chad Duval: Oh, yeah, I guess you’re right, there’s a-
Jon Schoeller: … you need to fix that after year one. So you need to, so, another thing we learned is every house has a piggy bank. And we kind of adjust that piggy bank based on who we’re putting in it and where it’s located.
Chad Duval: I see. Okay.
Jon Schoeller: We hate to be stereotypical, or stereotype, but eventually you just learn this game, and I don’t care who you are, everybody stereotypes. Everybody does it.
Chad Duval: Yeah, totally.
Jon Schoeller: Lie to yourself if you want. You do it.
Chad Duval: Yeah, totally. So now, so tenant A, is there any repercussions, do you guys notify their bank and that sort of thing? Is there any kind of like clauses in their mortgage and that sort of thing that you can’t … Because I know people used to do that all the time, you used to wrap mortgages before ’08, and everything like that, so it’s kind of like a wrap. So I’m just curious, is that common down there, or how do you get around that?
Jon Schoeller: As long as you are paying the bank, the bank will 99, we’ve never had one call it. Yes, anytime a bank, because this, you’re technically selling it. So a bank [inaudible 00:33:17] call the mortgage. If we had 100 mortgages called on us tomorrow, I don’t know what we would do. Nobody does. But we’d probably go in there and talk to them, be like, “Look, you’re getting your money.” So as long as the bank is getting their money-
Chad Duval: They’re not even going to look.
Jon Schoeller: … they’re not going to [inaudible 00:33:30]. So keep in mind, you’re responsible for the mortgage, so if you don’t have a tenant B, you have to still keep paying tenant A’s mortgage.
Chad Duval: Right, exactly.
Jon Schoeller: So these things need to be filled at all times, and those down payments need to come in. So we’re learning all this, and it’s going to be awesome because, keep in mind, in 15 years, not even that anymore, a lot of these houses have been going for about five years, so call it 10 to 15 years, from today’s date, we’re going to have 100 houses paid for.
Chad Duval: Wow. Wow. That’s crazy.
Jon Schoeller: So, right? So, I mean, because we’re financing them all on a 15-year term.
Chad Duval: I see.
Jon Schoeller: So we’re going to have, not all of them but most of them, so either that, or within the next three to four years, we’re going to have a bunch of them refinancing in our new system, and we’re going to get that spread of $15,000, $20,000, $30,000 on all these houses.
Chad Duval: Right, right, exactly, then you can keep going forward. You’re going to have so much capital.
Jon Schoeller: Right, yes.
Chad Duval: That’s awesome. That’s awesome. I like the strategy. It’s a lot-
Jon Schoeller: Yeah.
Chad Duval: I can see how it’s-
Jon Schoeller: [crosstalk 00:34:26], but it does work.
Chad Duval: Yeah, it’s a lot of work though, it seems, it’s a lot of management work, for sure, a lot of moving parts and you got to know what you’re doing. But, no, that’s a very cool strategy. I’m very interested in that and intrigued by that. So yeah, so you’re doing that side of the business. You’re doing your whole-tailing. You’re doing rent-to-own. And you said you’re doing, I mean, technically, some lending and that sort of thing. So is that basically the three types of business that you guys are dealing with?
Jon Schoeller: Well, we also have a construction company called [Montainey 00:34:56] Construction. That’s currently on pause because our area, it’s really hard to find good labor, good workers, good contractors. It’s probably our biggest struggle. As a matter of fact, it just is. We … Charleston’s a great area, West Virginia’s a great area, but it’s drug-ravaged, a lot of our areas, Charleston, Huntington, West Virginia was the drug capital of the United States, which is only about 35 minutes from us. So we got a lot of our contractors, the coal miners that have been shut down because the business isn’t going there anywhere, they’re the ones getting hooked on this because they’re just out of homes, out of money. It’s really unfortunate. So we get a lot of, how do I say this, a lot of contractors that start businesses aren’t business people. They just aren’t, and I don’t know how to say that. I’m not being mean. It’s just-
Chad Duval: It’s true.
Jon Schoeller: … they’re two different things, it’s two different things. And so they know how to work on a house, but they don’t know how to manage their money, they don’t know how to operate with operating capital, save operating capital. They don’t know how to hand in paperwork. They don’t know how to talk to clients. And you’re babying this, you’re teaching this the whole time. So we’re going to launch Montainey Construction again, and maybe within the next month, as we just put in a bid on a $6 million apartment rehab, and we’re going to do the whole job. It’s going to be about 48 units to a building down here. We feel close on that, so we’re crossing our fingers we get that because that would be awesome to jumpstart that company again. But we have Montainey Construction, and … That’s pretty much it inside of our offices. We have about four or five businesses inside, including the credit repair.
Chad Duval: I see. Wow, okay. Yeah, you guys got a lot of stuff going on. That’s awesome. But it’s good though. You guys are, it’s almost like vertically integrated, all the different pieces that you use, you guys want to manage. And some people are the opposite. I know, for me, I kind of do a little bit different where I try to sub out at as much as possible on property management, accounting, everything, attorneys, all that stuff, I try to do it. But I see a lot of success with people that, the things like you guys and vertically integrate it because then it’s a lot easier to manage and do it the way that you guys that you see fit, for sure. So when, so I’m curious too, knowing today what you know now, what would be one piece of advice that you’d give yourself a couple years ago when you first got started that you didn’t know at that time that would have helped you significantly? I know you’ve been talking a lot about your growing pains and sharing a lot of that with us, but if you can give one nugget to the audience as to what you wish you had known when you started, it might help somebody when they get started.
Jon Schoeller: This is easy, is to get around the right people sooner. I can’t stress it enough. I probably read 30 books, watched all the podcasts, did all the interviews, or read all the interviews, watched all the YouTube channels. None of that’s action. None of that’s action. It wasn’t until I said “Can I come shadow you two guys?” that literally my life turned around, just like that, as far as an investment standpoint. I ran businesses for almost a decade prior to that. I had lots of money. But I did not know where to get started in real estate, and I was like everybody else that’s probably watching this, at least 90% of you, going, “Oh, if I could just get my first deal, if I could just find a mentor.” You’re not going to do that at home. You’re not going to do that through YouTube. You’re not going to do it through a book. You need to do that too so you’re educated when you go talk to these individuals because they know better.
Jon Schoeller: But what can you bring to the table for them, I don’t care if it’s taking out their trash. All right? I tell everybody this story too. My first day, when I went to go shadow A&M Investments, I had no, I was good financially, but I didn’t care because I wanted to do what they were doing. I sat in the office and listened, “What do they need? What do they need? What do they need?” And one of the first things they started complaining about was something so small, but they were like, “Our office,” they just got this office when I came in, and they’re like, “We need toilet paper in the bathroom, and the bathroom’s a mess.” The next day, I got there 30 minutes before everybody else. I bought toilet paper.
Chad Duval: Yeah, and solved their problem.
Jon Schoeller: They don’t know me [crosstalk 00:38:53], and I cleaned the bathroom. They came in the office, and they’re like, “Who in the world did that?” Well, I didn’t say, “Me, me, me.” But they saw I was there early. That probably carried some weight of like, “This dude’s going to clean our bathrooms?” “I’ll do anything, I will do anything because right now, you have what I want. Not the opposite. Yes, I have money to leverage, but you have what I want to be.”
Chad Duval: Yeah, and that’s so important too. I see that a lot from young people or people who are trying to get into it. They’re always asking for “I need a mentor,” or they’ll come to you, “I’ll do anything for free.” But you took it to the next level, and you actually listened, and then actually acted on what they needed before they even asked you to do it. And I think that is where the big disconnect with a lot of people who start who want mentors, who are searching for mentors, “Oh, I’ll help you do anything,” or that sort of thing. Well, that’s a lot of, it’s not showing initiative on your part, you know what I mean? You’re not bringing anything to the table for sure. So that’s super-important for everybody. Try and figure out what the heck your “mentor,” the person that you’re trying to get close to needs, and then bring that to them without them asking it. That’s [crosstalk 00:40:02]-
Jon Schoeller: Right, like if I lived near you, I’d be like, “Do you need help editing your podcast?” I’d send you a nice, I’d send you, like if you were complaining, you haven’t yet, but if you said, “My microphone’s itchy, or my headphones,” I’d get you another pair, and I’d say, “Look, man, whatever I can do for you, I’m going to be there for you,” like, “What do you need? I’ll share your posts. I’ll comment on your YouTube videos. I’m here to support you so that you should my willingness. Because right now, I don’t know,” like if you’re just starting out, you could say, “Right now, I don’t know anything about real estate. This is what I do know, and this is what you’re missing. So I’ll do it.”
Chad Duval: Mm-hmm (affirmative). Yeah, and then you kind of learn the real estate through osmosis because you’re around it.
Jon Schoeller: Right.
Chad Duval: Yeah. That’s awesome. That’s really, really, really good advice, really good advice. But yeah, okay, so it looks like we’re getting close to the end of the show, and then I kind of want to pivot into our Final Four, a little fun, have, we talked before the show, just to lighten it up a little bit, bring a little bit of a, there’s all kind of funny answers that come out of this, so-
Jon Schoeller: Yeah, sure.
Chad Duval: … we’ll see if we can get through these ones. The number one question for the Final Four is if you could get rid of one US state, which would it be and why?
Jon Schoeller: That’s tricky because it’s actually, you know what’s really funny and irony, how life works, it might have been this state that I’m living in here, West Virginia. West Virginia is usually the butt of the United States’ jokes, but West Virginia’s great. I’ve met a lot of nice people here, my businesses are here, and of course now I’m a little bit biased to it. But I’m going to go with Mississippi. I’m going to say Mississippi can go ahead. It’s, I think it’s like 50th for education. I think obesity is up there. Not the people. I don’t want to say I’m going to kill off all the people. You just said state.
Chad Duval: Yeah, exactly.
Jon Schoeller: So I’m going to, let’s get rid of Mississippi. I’m going to take Mississippi out. No offense, Mississippi.
Chad Duval: We love you, Mississippi. All right, question number two, we finish this episode, you walk outside, you find a lottery ticket, and it’s worth, say, $100 million, $10 million. What would you do with it?
Jon Schoeller: More of what I’m doing now. I would just do more. The first thing I know we would have is my wife and I are big animal advocates. We’re both vegan, which I probably just lost 300 subscribers.
Chad Duval: We love vegans too.
Jon Schoeller: Yes, right, right.
Chad Duval: We like carnivores.
Jon Schoeller: So we’ve been vegan for about three years, but now only that, but we go out of our way, we spend a lot of time with the shelter and fostering dogs and fostering [inaudible 00:42:22] and helping wherever we can. We’d probably have a huge farm, with a huge rescue, and something that she really wants, I really want for her and for myself. So we’d probably open that immediately. Travel, we travel a ton, so I would just say travel a ton more.
Chad Duval: Oh, that’s awesome. Where’s the-
Jon Schoeller: [crosstalk 00:42:38]-
Chad Duval: … number, what’s your number one place you’ve ever been? I’m just curious because I like to travel too.
Jon Schoeller: We got married in Maldives, so that’s going to be a hard one to beat.
Chad Duval: That’s awesome, that’s awesome.
Jon Schoeller: Yes.
Chad Duval: That’s on the top three of my list right now, for sure.
Jon Schoeller: Right.
Chad Duval: Yeah, that’s awesome. Okay, question number three, if you could have a beer with any person, dead or alive, who would it be and why?
Jon Schoeller: LeBron James. That’s my dude. It’s just, for multiple reasons. Some people are like they hate him as a basketball player, that’s fine, but he’s, off the court, off the court the dude’s a genius. He’s, businesses everywhere, he brought people with him from when he was in high school, let them manage all his businesses. I like somebody who doesn’t forget who they are, and brings the people that helped him with him, and [crosstalk 00:43:18]-
Chad Duval: Mm-hmm (affirmative), and levels them up.
Jon Schoeller: Right, if you, I would say about 98% of people, if they were handed $100 million at 18, they’re probably still not with their high school sweetheart, and they’ve probably been in some trouble. Probably. Even me. Oh, me for sure. But [inaudible 00:43:35] none of that from him. [crosstalk 00:43:36]-
Chad Duval: Yeah, that guy’s a beast. He-
Jon Schoeller: Yeah, so that’s, I would love to get involved with some businesses with him, and of course get them, the front row tickets to [crosstalk 00:43:46] game [crosstalk 00:43:46].
Chad Duval: Yeah, totally. I know, but you’re so right though. I mean, that’s what he’s known for, is basketball. Man, he has so many things going on outside of basketball. He’s such an entrepreneur with all the businesses he has going on, and doing all the films and movies and, it’s crazy. That’s definitely good. I would love to meet him too. So then the last question of the Final Four is if you could eat only one thing for the rest of your life, what would it be?
Jon Schoeller: Well, it’s going to be a tie though.
Chad Duval: Okay.
Jon Schoeller: I got to give you a tie.
Chad Duval: We can give you two, we give you two.
Jon Schoeller: It’s going to be pancakes and donuts.
Chad Duval: Okay.
Jon Schoeller: I’m not a big snack guy, actually. I’m actually pretty healthy. I own a gym. But I’ve had pancakes, I probably had two pancakes every night for the last five years.
Chad Duval: No way.
Jon Schoeller: There’s a few nights I’ve missed. We travel, or [crosstalk 00:44:31], my wife’s in nursing school, an anesthesia school, so she gets busy. But I’d say 98% of the nights for the last five years I’ve had two pancakes every night.
Chad Duval: That’s awesome. Hey, man, there’s nothing wrong with that. I’m a big fan of, I don’t know, we just started buying those Kodiak Cakes. I don’t know if you’ve seen those.
Jon Schoeller: They’re good. That’s why I eat them. [crosstalk 00:44:50] protein in them.
Chad Duval: Yeah, dude, they’re so good. Yeah, yeah, and their so filling. Oh, my God, you have two of those in the morning, you’re good til dinner, man.
Jon Schoeller: Oh, yeah, right. I’ve been doing that. But I’m also a big donut fanatic. Of course, we’re vegan, so it’s hard to find donuts, but when we go on road trips, we just went to Canada, and there’s a place called Beechwood Doughnuts, just over the border near Niagara Falls. I need that here. I need that right here in my life, right now.
Chad Duval: Yeah, that’s got to be tough to find them though. Do you guys have any around you that you can, I mean …
Jon Schoeller: We have some places that will make vegan donuts, but they’re not always readily available, and they’re not known for them, so they don’t specialize in them. It’s growing. Vegan is growing everywhere. But we’re in a, Charleston, West Virginia’s probably 10 years behind everywhere else. It just, it’s just true. So places like LA and stuff, you can find that stuff everywhere. Boston, probably, I bet you got vegan places all over the place.
Chad Duval: Oh, yeah, yeah, totally. Yeah, no, that’s the, yeah, we do have a lot of good food here too, and especially over, you just go over the river into Cambridge, Cambridge seems to have a lot of good food like that too.
Jon Schoeller: Right.
Chad Duval: Definitely, definitely. Okay, well, that’s the Final Four. So I guess if you want to share a little bit about where people can reach you, I know me and you kind of hooked up on Instagram, but if you want to, if people want to reach out to you, where should they go?
Jon Schoeller: Yeah, so you can find me on Instagram or YouTube. I also have a Facebook page. And all of them our Jon Schoeller, J-O-N S-C-H-O-E-L-L-E-R. I’ve taken a little bit of a break from YouTube. I did a video every week for a year, that was my goal, and hit 1,000 subscribers. I did that, and then this last month we’ve been traveling and stuff, so I’m going to get back on there. But Instagram is where I’m super-active. I show you behind-the-scenes. I show you money. I show you the deals, the breakdowns, and then all my animals, and that’s kind of … And a few basketball highlights.
Chad Duval: Yeah, no, your Instagram’s awesome. I definitely, it’s one of my top Instagram accounts that I follow, follow along every day. It’s really well done, very well-organized and thoughtful, so go check it out. There’s a lot of value there. Yeah, well, I appreciate you being on the show, Jon, and I’m sure we’ll be in touch soon.
Jon Schoeller: Absolutely, Chad. Thanks for having me on.
Chad Duval: Thanks, man. Well, guys, that was Jon Schoeller. I hope you guys enjoyed that conversation today and picked up a few tips, especially like the conversation we had about him cleaning the toilet when nobody was looking and nobody wanted to do it. It’s a good piece of advice for anybody looking to get into real estate and finding a mentor and getting surrounding by people that are doing things that you want to do. So I want to say thanks again to Jon for being on the show, and I also want to say a special thank you and congratulations to Roadfixer from iTunes. He was the winner of the AirPods. Stick around and stay tuned because I’m sure there will be another contest for reviews in the near future.
Chad Duval: And then also, if you guys want to go check out my Instagram, I had a, the finalizing of an eviction for my duplex in Connecticut this week, and I’m going to share some thoughts and some tips that I learned through this process. Tenants left it trashed. There’s a lot of things that I’ve learned that I kind of want to share with you guys, and hopefully avoid this type of stuff in the future. So, with that being said, the famous Zig Ziglar always says, “You don’t have to be great to start, but you have to start to be great.” Talk to you guys next week.