Cole Hatter
👤 SpeakerAppearances Over Time
Podcast Appearances
It can't be financed until it's built.
So you get to pocket all that equity.
And one of the things we actually did was we would just flip them before we'd close on them.
So 30 days before, excuse me, 30 days before we'd have to close on the property.
I would just assign that contract to a different, maybe to you for 145,000.
Cause now you're stoked.
You're getting a quick discount.
And I just made 20, $30,000 doing nothing other than, you know, having a deposit on a home for eight months.
No, no.
So it's only a deposit of about 5% upfront.
You don't need the 130 until you close and we wouldn't close.
Is that specific to prefab?
It is.
So yeah, those are homes that, number one, have to have appreciation, which I learned the hard way 2008.
That didn't work anymore.
How much did you lose in 2008?
Oh, personally, hundreds of thousands as far as property values, millions.
Yeah, yeah.
Yeah.
And that's what we were doing in, again, 2005 is a very different lending environment than it is today.