Transcription
I bought 41 properties at the tax sale back in 2015, right coming out of bankruptcy, guys. I came out in 2013. Uh, 41 properties. In what you got to do, though, you have to figure this out. You have to have a private investor, and then he funds the deal, and he gives you the renovation money, and you pull out.
And you bird on the front side. In other words, let's say I buy it for $50,000. I got to put $30,000 in it, but I know it's worth $120. I'm gonna tell them to loan me $95 because I know when it's done, it's worth $120, and the bank's gonna give me 80%, which is going to put me at $96 grand. So I already got my money out.
Then the bank's gonna say, "What kind of loan do you want, Mr. Barger?" Rate and term. Oh, you ain't putting no cash out? No. Cause they don't like to do cash out. Sorry, they pulled the cash out. They don't know that, though.