Peter Falcon
๐ค SpeakerAppearances Over Time
Podcast Appearances
It needs new drywall.
There's plumbing problems.
You need $30,000 worth of work.
And the bank says, look, our buyers are qualified, but we're not lending them money on this house.
And the person in the house already knows that at some point.
They know this house is so shitty, I can't sell it on the market for $200,000.
Right.
Right.
So, and it needs $30,000 in work.
And then they think, okay, so I should be able to sell it for $170,000.
No.
No.
No way.
That's not the way it works either.
Why would an investor come, buy it for $170,000, put $30,000 so that he can make nothing?
To make nothing.
He's not going to do that.
He needs to make money.
He wants to make $50,000.
So take the $30,000 plus the $50,000.