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[Music] okay let's say you get a $100,000 property. It's worth that and you get it on an option for $80,000, like you said. You market it and then somebody says, "Hey, I want to buy it. Let's do it." Are you like buying it, like you're exercising the option to buy it yourself and then you're selling it to them with a double closing, or are you somehow assigning the option and they jump in? How does that, how the mechanics of that work?
So we've been really fortunate. We have expanded. Um, but when we started doing this method I'm about to tell you about, we started in Arizona and we work with, um, Great American Title Agency out of Phoenix. There they have been awesome and I recommend them to everybody. We've also found one in Tennessee that we use. And what we've been able to do with them is do a true A to C double close where they use the buyer money and they pay everybody. And that has been a huge game changer for not not only that they're able to do it without disclosing what our profit would be to either party, which has also been phenomenal for us because sometimes our spread is, sometimes it's massive. It's almost like it would be insulting to both parties. But if we did an assignment, then that assignment fee would have to be revealed and our profit would be disclosed, and I don't really love that. Um, you could do it certainly. I just, I'd rather be some things to be undisclosed.
So yeah, so we have the option come in. We get that signed. We market it. We find this uh buyer. We get both parties to sign a sales agreement. We set, take those sales agreement, send them to our title company. Title company handles everything. It comes back. I sign. The notary shows up. I sign both all these polish paperwork, send it back to the title company. A couple days later, they wire us our money. Not all of the deals work out that way. And I'm, as I'm expanding the business and moving into different states, we'll probably have to start enacting transactional funding, which won't stop me all from doing. Just if I can't find a title company to do what we want, I'll have to adjust.
In some states doing this kind of thing where you put an option or a purchase agreement with the intent of assigning it, or you're sort of, some people perceive that to be pretending you're a real estate agent when you're not because you're sort of working on somebody else's behalf to market and list their property and sell it. Um, but so I think that is one important thing is just to understand is this allowed in this state or not. And I think in most states it's fine, but there are some where it's like it's a problem. Just be aware of that.
Yeah, and and you're absolutely right. And I kind of half jokingly say, I just do what I want. Um, I realize that that is a very important thing and I don't recommend somebody going into a state and just doing whatever they want willy-nilly. We also are at a point where we insist on going, all of our deals are pretty much going through title companies except for a couple of them. So we kind of put a lot of the legalities on the title companies. As far as option agreements and marketing, I'm kind of moving ahead without really researching each state specifically at this moment, but knowing full well I, what I, what I would like to do is every state that we go into, hire an attorney, drop the right paperwork, talk to them. And we've done that in a couple of states that we've worked. But as we're moving forward so fast, I really haven't had enough time. So any attorneys or uh narcs out there listening, you didn't hear anything from me. But yeah, we that's on our very near horizon to make sure we're doing all these things legally.
I hate to say this because in my position, the stance I always choose to take is talk to an attorney, like get the right St answers, blah, blah, blah. And it's super boring and slow and annoying. And I totally get it because I feel like I don't know. I feel like it'd be bad for me to say, yeah, just go do whatever you want, figure it out. But I gotta tell you, like there's this weird commonality I notice among people who just like blow up and do huge is they kind of take that approach where they're just like, I'm just gonna bump into the walls. If I make mistakes, so be it. If somebody sues me, so be it. Whatever. I'm just going to move forward at all costs.
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