Leasing Houses With The Right To Sub-Lease With Coach Pat Martin
Episode 539: Leasing Houses With The Right to Sub-Lease With Coach Pat Martin
Did you know you can lease houses with the right to sub-lease? Tune into this episode as today’s guest explains how. Pat Martin tells us exactly how he managed to do it. Pat didn’t intend to go into real estate, but someone approached him while in the church and asked him if he was interested in investing. His initial response was NO, but eventually, after six months, he got his first real estate contract.
From there, he invested in seminars and bootcamps to learn more about the industry. Now, Pat is writing books, coaching, speaking, presenting, offering online programs, growing a podcast, and inspiring and educating others on how to exit the rat race and succeed with their entrepreneurial journeys. Join in and get inspired with Pat’s adventurous life and real estate success story.
Watch the episode here
I’m here with Coach Pat Martin. We’re going to be talking about real estate, how it all came to him and how far he has taken it, and some of the adventures in his life. This guy has lived a tremendously adventurous life. He’s followed God into the jungles, talked to people about forgiveness, taught tribes, and had been part of helping spread Jesus’ word all through the jungles. He’s used real estate to make this happen for him.
I was reading in your bio somewhere where it’s been said that money is the root of all evil. It says stinginess with your time and money is the root of all evil. With lots of money, we can do lots of great things if we focus on it right and do the right things. It’s hard to help people when you have nothing. It’s a little easier to help people when you have more or a lot. This is how your focus is. How are you doing, Coach Pat?
Mitch, I’m doing amazing. Thank you for letting me hang out with you.
It’s my pleasure. I loved reading your bio. You’re working for the church and living hand to mouth. You’re not in it for the money. You’re doing God’s work and giving. Maybe you make $30,000 a year that even back then was not much. Somebody comes to you and says, “We’d like to take some of these homeless people and handpick a few of them. Maybe they can work with us on these crews. We can get them a trade or educate them a little bit. Get some solid ground under their feet. Maybe we can help that way.” You start to learn about real estate because this guy was a rehabber and flipper.
Yes, he was. He called me pastor back then. He asked me, “Have you ever thought about doing real estate investing?” I said, “No, I’m not called to that.” He planted that seed. Six months later, I was assigned my first contract on my lunch break working for the church. I made $4,000 on that assignment. I made more money on that assignment on my lunch break than I have worked all month long for the church.
That’s always a great revelation. It doesn’t matter that it’s not huge or how much that first check is. It’s a proof of concept. You know that you weren’t the smartest guy on the planet. In real estate, you’re still able to make $4,000, which at the time was a lot of money for you per month. The ones I feel sorry for are the ones that go out and make $100,000 on their first deal by accident. I hear that story all the time. They’re completely ruined for a while. They have hit the hard times, lose it or mess it up, and then they start learning to build a business. I feel sorry for those guys that hit it big on their very first deal. It’s a double-edged sword. Tell me about that first deal.
I need to call him up and hunt him down. He’s up in Dallas. My wife and I work for a large church up there. I was the street pastor to the homeless. A few months later, when he planted that seed, I started thinking about it. Somebody came to me and said, “I have a house that I inherited. Do you know anybody that might want to buy it?” I was like, “Yeah.” I don’t know how and whatever. I said, “How much do you want?” He said, “It’s an abandoned house. The windows are torn out. I want $10,000.” I’m like, “It sounds good to me.”
I did a contract with him. I didn’t know what I was doing. I checked that box and said, “We want to assign those things. It sounds like a good deal to me. Keep my options open.” I went and told that friend of mine that planted that seed in real estate investing. I said, “Elijah Lewis, I found this deal.” He said, “Great. It’s not worth $10,000.” I went back to the people that wanted to sell it and said, “I’ll give you $5,000 for it.” Elijah found me a buyer at $9,000. We went to closing a Chicago title. I walked out of there with $4,000 in my pocket and said, “This doesn’t suck.”
How did you go from there to the fix and flip? What was your journey there?
I was let go from the big church and they gave me a severance package of $1,200. I was like, “I gave you nine years of my life and you’re going to give me a $1,200 severance package. This is crazy.” We wound up coming back to the Tampa area. A friend of mine was working in construction. He had a construction crew. I told him, “I’m looking for work.” I was interviewing at churches out here. A bunch of old retired farts, I call them orf churches with white hair, don’t want to do any outreach. I’m like, “I don’t fit.” I went down there and he goes, “I need a supervisor to watch my guys and make sure they work.”
When he leaves to go to another job site, these guys take breaks. He goes, “Pretend like you know what you’re doing.” I started learning how to chip out windows when one of the workers didn’t show up. I learned how to finish retainer walls stucco, do decorative driveways and paint when the painters didn’t show up. I was on the job training and learning how to rehab, not realizing what I was doing. My wife wound up getting a tape set of real estate.
Who was it?
Ron LeGrand, the red one, the blue one, and the yellow tape set. They weren’t even CDs. They were cassettes. I was driving two hours from the north side of Tampa to Sarasota. I put in the tapes. I’m listening to him. After you listened to Ron LeGrand for a couple of months, I made ridiculous offers. I used the mail formula and got my first house. We rehabbed it as a family. We would order pizza at night. The kids would help out, paint or whatever, and fall asleep in the living room. We would work until about midnight. I did a round-robin auction because I read a book. It’s all about education. I did a weekend sale, a round-robin auction on Valentine’s weekend. I had over 90 people show up. I closed and put in my pocket $29,992.43. That didn’t suck.
You remember that number. You’re out there and doing the work yourself. How long has it taken you to figure out that’s not what you’re supposed to be doing?You need to make mistakes. If you learn from them, it's a good thing. Click To Tweet
It took about 3 or 4 more rehabs. I’m like, “We can hire this stuff out.”
A couple of $29,000 checks would make you a little bolder.
We had an educational fund. We took a portion of that and $2,500. We went and spent it on seminars and bootcamps to educate ourselves to go to the next sales. Every deal, we put money aside for a bootcamp. We started out with Ron LeGrand’s bootcamps back in the day.
I started with Ron Legrand and Lou Brown. They were my two favorites. The very first one that I ever ordered was a Carleton Sheets back before the digital age. I bought that Carleton Sheets thing. It was rather expensive for me. I ordered it from the TV midnight infomercial. I didn’t even open the box. I was so intimidated by the whole thing. I didn’t even ever get to it. I did eventually read some books and go to a bootcamp and that’s how I started. I found that box one day and never opened it. I always wonder why didn’t I open it. I guess I was so afraid of not understanding the paperwork, all the terms, and everything. It was intimidating to me.
I took that lesson. One day I wanted to order the Tony Robbins stuff. His was like $800 a month for six months or something. It was a high-ticket thing and 32 CDs. I thought to myself, “I wonder how many people have bought this like I did the Carleton Sheets course.” I placed an ad in the classifieds and said, “If you have a Tony Robbins course, the 32 discs, I’d like to buy it from you if you’re done with it.” I bought it for $50 in a parking lot. There was cellophane taken off of the very first CD, but all the rest of them were still in the cellophane wrapped.
I did a lot better with that one. I got through a large portion of it. It was not for me. I have ADD if you haven’t noticed. I don’t stay with the topic long. After about a week or so, I had enough of Tony Robbins and was going to put him down. It’s great stuff and I love the guy, but we all have different ways we learn. You learn the way I do, through doing, failing, messing up, tearing it all out, and starting over again.
You got to make mistakes. If you learn from them, it’s a good thing. Those are seminars that you pay for.
People are probably getting sick of me saying this, but you’re either going to pay the street or the coach or the bootcamp. You are going to pay one way or the other. The street is brutal. It won’t encourage and help you up. I learned the hard way through the street. I like to tell everyone that I graduated from Calle U. That’s street in Spanish. I keep thinking of getting a college ring that looks like it’s from A&M but around the side, it says, “Calle U.” When people ask me what college I’m from, I’m going to say, “Calle U,” and hold up my ring. If they get it, they get it. If they don’t get it, they don’t get it.
I almost quit because I had a couple of mishaps early on. To think of how close I came to walking away from an industry that has changed my entire life and many people’s lives around me, starting with my family and beyond that with coaching, teaching, and helping people in town. It’s scary how close I came to walking away from the industry because I didn’t get a coach.
We’ve all been there where we get frustrated and we are like, “I can’t do this anymore.” We get that little victory or that little extra win that pushes us a little bit further.
What’s so right about getting the coaching or the professional advice or getting in a room with the people that are doing it or getting on a group coaching call is that you see other people doing it. You’re talking to them at the seminar and have lunch with them. You can say to yourself, “If that guy can do it, I can do it. He’s not smarter than me.” Not to say that I’m smart but I’m saying, “He can’t be that much smarter than me. If he can do it, I can do it.”
A guy gets on the call and says, “I made $50,000. This is what I did with a mobile home.” I’m like, “Holy cow.” It’s giving validation to the strategies and that they work. You might not be doing it yourself, but there are these guys on the call or in the room that are doing it. You can stand up next to them and go, “They don’t look that much different than me.”
You wonder, “How in the world were they successful?”
“If this guy did it, what am I waiting for?” First of all, you wrote a book.
It’s Preforeclosure Rental Riches.
You have a course out. It’s at 1000Houses.com/CoachPat. If you go there, the course is ready for $2,000.
It’s $2,495 so basically $2,500.
What are they going to learn if they go in that direction?
I stumbled into this back in the foreclosure boom of 2008, 2009 and 2010. We were doing 40 to 60 short sales a month. Sometimes, we come across these houses where we couldn’t do a short sale. I got with my attorney. I can’t call him a business partner but he was my business colleague. We were joint venturing together and stumbled across where we picked up these houses. When we couldn’t do a short sale, we rented them from the owner. The owner has a legitimate right.
I’m not an attorney so don’t take anything I say as legal advice. My attorney would tell me that a homeowner has a legal right. Whether he has an apartment complex or his own home, he’s got the legal right to rent out his house even if he’s behind and in default. No matter what place in default he might be unless the bank puts a motion and they want to collect the rental income and have it paid into the court registry. I’ve done this for several many years and that has not happened to me, not even one time.
They’re not going to go down there and knock on the door and say, “Send your payment over here instead of over there.” They’re not going to do it.
It’s very simple. We find these vacant houses that are in default. I have a few phrases that I use to pique the homeowners’ interests. You have to do it in about ten seconds. I’ll share what that is. We rent the home from the homeowner with the right to sublet, but I ran it at a discounted distressed rental rate, which comes out to about 25% of what I can rent the home to my tenant.
When I get a homeowner on the phone, I use some programs. You can drive for dollars or partner up. I use a mailman because a mailman knows every vacant house in the farming areas that I want to farm in. I don’t want to be in the war zones. I want to be in some gated communities. I give away $500 gift cards. It’s not cash and no name on it. I give that to my mail-lady. She’s like, “I’m looking for more properties.”
There are all kinds of ways that you can get leads. We skip trace them and called up the homeowner. Mitch, if I were calling you up on the phone, I would say, “This is Coach Pat. I’m trying to find Mitch. I was hoping he might be able to help me out.” Mitch would say, “Coach Pat, do I know you? What is this about?”
When you ask somebody like, “I’m hoping you might be able to help me out,” it pulls a wall down. You’re not trying to sell that person something. When I get Mitch on the phone or the homeowner, I say, “Mitch, you don’t know me but I noticed your house on 123 Elm Street. It looks vacant. I’m looking for a place to rent. I was hoping you could help me out.” That is my foot in the door and that opens up the conversation.
I know people do this out there, “I like to buy your house. I’ve got all cash. I can close quickly.” When I asked you and I approached you like, “I was hoping you might be able to help. I’m looking for a place to rent, Mitch. I noticed a house on Elm Street, and I think you’re the owner. It looked vacant. Can you help me out?” The walls come down.
How long was this lease that you negotiated? I got some things running through my head. This is one of the reasons I wanted to interview you because I hear the same old strategies over and over again. There are so many. We know the popular ones. My strategy might be a little out of the box more than normal. It’s getting more normal now. Other people and I have been talking about it for several years. It’s seller financing the houses on 30-year notes with no balloons.
You’re renting houses with the right to sublet, which I’ve heard of in the Airbnb courses. I never thought to go straight to a rental and get it right to sublease on just a house, not Airbnb or anything. I’m going to guess it needs work before you can rent it. You would have to get a much longer lease because you got to recoup your money.We've all been there, where we get frustrated and we want to give up. And then we get that little victory, that little extra wind that just pushes us a little bit further. Click To Tweet
Are you only doing houses that are ready to move into now?
Tell us. These are the questions I have.
You’re going to love this. My Facebook marketplace is where I advertise. I love bandit signs. I used to be the number one code enforcement violator in my county. I wear that title without being aware of that. When I was living in South America, I was still marketing houses here in the States. I’m not putting out bandit signs. I’m sitting on the beach and helping out an orphanage and with the Venezuelan refugees. When you live on the beach, you get to go surfing and scuba diving.
In my ad, I use what’s called the use and occupancy agreement with my tenant. It’s the same concept that you use when you go to a resort or Airbnb or vacation rental by the owner because they don’t have to evict you. I use what’s called a use and occupancy fee instead of a deposit. A fee doesn’t have to be refunded but a deposit does. I get first, last, and my use and occupancy fee.
If I’m renting the house out for $2,500 a month, I’m getting upfront $7,500. You can put in some sweat equity and elbow grease. If my former tenant didn’t quite leave the house as clean as I would like it and you would like a free month’s rent and clean it up, your next monthly payment won’t be due until 60 days. That’s how they get their first free month. They’re putting up first, last, and the use and occupancy fee upfront. They are moving in and cleaning up the place for me.
They will shampoo the carpets, put a fresh coat of paint on, and do whatever it needs to take place. When I do pick up the house, I might have to call in the landscape company to keep the lawn mowed. Typically, these houses don’t last very long. In my advertisement, I put the ad in there. One of my worst-case scenarios was I had to give away two free months but I still got first, last, and my use and occupancy fee upfront. The first monthly payment is not due for 90 days.
The ex-wife lost the home in the divorce but she paid for that carpet. That carpet was not left in the house when I got it. She let her kids write messages to dad in felt-tip markers far down on the wall. It needed to be painted. The people were like, “This is perfect. We’ll paint our colors.” I’m like, “Great.” I was able to rent it. I get first, last, and my use and occupancy fee upfront, my $7,500 or $9,000 if I’m renting for $3,000 a month. Their first monthly payment’s not due typically for 60 days because I give away a free month. People love it.
The first time I ever heard about that was when 9/11 happened. The guy who had the master lease on the buildings that fell was subbing out all the office spaces in the Twin Towers for a markup fee. That was the first time I ever heard of it, but I never thought about it in houses.
I picked up a house in Pennsylvania two days before it was going to auction. I got the homeowner on the phone and asked him, “What are your goals and desires? What do you want to do? It’s going to auction in two days. What is your game plan? Would you like to know what I would do if I were you? I can’t tell you what to do but I’ve done this. This is what I would do but you would have to ask me.” He said, “What would you do?” I said, “I would file what’s called an emergency petition bankruptcy application and get it filled out so I could block the auction.” He said, “That sounds great.”
The next day we would call him up and he goes, “It’s not worth it to me. The bank is going to let me live there for 21 days.” I love that phrase, “It’s not worth it to me.” I said, “What would make it worth it? Would $1,500 make it worth it for you? How would you like to live there for almost 3 months instead of 21 days? Would that be worth it?” The guy was like, “Absolutely.”
He blocks the auction. We go on our contract with him. I’m now negotiating with this lender to do a reinstatement and a recast. We’ve come to find out that he’s got a guest house out back that he rents for $550 a month. His PITI is $950. We negotiated with him to clean up the guest house out back. We know that we can get $600 to $700 a month rent for it. He’s painting it as we speak. We think we can rent both of them out. Our profit is going to be $2,800 to $2,900, and PITI is only $950 a month.
We’re looking at between $1,800 to $2,000 a month cashflow profit on this. We’ll reinstate the loan. As soon as we get the reinstatement, we’ll go ahead and pick it up as a sub-to, file the deed, and pay the transfer tax. This guy is already planning to move out of the home. I’m not kicking him out. He told me what he wanted to do.
In most cases, what do you have to give the owner to get them to let you get a master lease or at least with the right to sublease? What are you offering them? Is it as little as you can or are you offering to take it with all its defects and imperfections?
It’s $10, just the binder fee on the contract. By the way, I deal with vacant houses. This one happened to be an anomaly because we marketed the guy thinking that he had already moved out. He’s gotten an auction day in two days. We asked him what he was going to do. His common-law wife’s credit is in good shape. They’re looking to move and want to buy another house and say goodbye to this one. I’m like, “I’m all ears.”
Typically, it’s a vacant house. I hate that the divorce rates in the United States are at 60% or better. It doesn’t matter where the market’s going up or down. Divorce rates are always climbing a little bit at a time. That means the ex-wife winds up with the house. She can’t afford to stay there and ends up moving out and vacating the house. She can’t afford to pay a foreclosure defense so she vacates the home.
We approach her and say, “We’d like to rent the home out.” If I rent it from her, my goal is $2,000 to $4,500 a month. That’s my bread-and-butter range for rental properties. If I rent one for $2,500 to my tenant, I’m paying about $600 a month to my landlord, the homeowner. They don’t have to fix, clean, maintain or tune up ACs. I catch up on paying the back payments on HOAs. I negotiated with them. Now, if I have a vested interest, not equitable, a contract to rent the property, attorneys can do foreclosure defense for me just the same as they can do for the owner. Out of our profits, we’ll pay for foreclosure defense. The longest one I’ve been able to jam up the foreclosure process for has been twelve years.
If you want to learn more about this, rent it and then rent it out to someone else or rent it with the right to sublease, lease it with the right to sub, go to 1000Houses.com/CoachPat. Check it out. There will be contact information for Coach Pat. You’ll probably see about this book, Preforeclosure Rental Profits. Get an angle. When you first start out in this business, if you’re 99% of all of us, you’re starting out dead broke. You don’t have two nickels to rub together. You got to find these strategies that work with little to no money until you can get a leg up.
There are plenty of these strategies. Here’s one I have never talked about in my 540 interviews. I was excited about this because I was like, “I’m not going to be rehashing some of the same stuff for a different angle, but this is completely different stuff.” Check it out. Think about leasing houses with the right to sublease.
I want you to check out the course. If you go to 1000Houses.com/CoachPat, you’re going to save $1,500. It’s not unusual for all of us, podcasters and real estate guys, to always give a discount to the other coaches if they will introduce us to their audience, which is what he’s doing. It’s not any big secret. If he’s going to meet one person, the price is $2,500. By the way, I get 30,000 downloads a month. I’m not saying you’ll get 30,000 but my package of 500 in whatever podcasts, they get downloaded about 30,000 episodes a month. That’s why you offer a discount to come to the shows. I help my audience and he gets introduced to a lot more people. That’s what it’s all about.
As soon as I got back from South America, I did it virtually before. I got a program that I could download and put in the parameters of the houses I’m looking for. I put in the ZIP code for the town, preforeclosure, vacant. I populate it with about 2,000 addresses. I took those addresses and downloaded that into a skip trace program, then I wound up with phone numbers.
If you want to know how easy this was, I’m a Boomer. I’m probably the same age as Mitch. We’re both very handsome with gray beards. I found a program called Zencall or something like that. I took all those phone numbers and put them in there. I plug in my earpiece on the side of my computer and hit the enter button. It started dialing 20 or 25 numbers at a time. I did four 30-minute sessions and I picked up two houses. One house, I rented for $2,500 a month and the other one is $1,800 a month. I’ve rented them out now since I’ve been back from Ecuador.
Because the market has gone up, I got the payoff on the first house of $273,000. I asked the realtor, “What do you think we should list it for?” She goes, “$334,000.” We got an offer under contract at $360,000. The payoff is $264,000. I got an offer from the hedge fund for $360,000, and they want to keep my tenant. The other house I rent for $2,500 a month. Last summer, it was underwater but because the market has gone up, the payoff is $463,000. I got an offer at $560,000 on it.
You’ve got a few expenses out there but good enough, as Ron LeGrand would say. What’s that rate of return?
I’ve been renting them. Between the two houses, I’ve made somewhere in that $60,000 range on the rent income. I went back to the owner and I got a lease option with the right to sublet. My lease option allows me to purchase it from them.
It opens the conversation. Who else would they rather sell it to than the guy who has been sending them payments all this time?
They love me because they weren’t getting anything from it. I cleaned them up. I took care of the HOA fees because those are going to go against their credit. They are gone. I negotiated those down and pay them off.You have all kinds of private money out there. Pick it up and do whatever you want to do with it. Click To Tweet
They are usually behind in the payments. Do you have to give up some of that money to get the payments caught up or are you trying to find ones that aren’t that far behind?
It doesn’t matter. I’ll give you an idea. I don’t start paying rent to my homeowner landlord until after 90 days starting at month four. I’m able to collect my first, last, and my use and occupancy upfront, plus the next 3 or 4 months.
You can solve some issues with that.
You got $12,000 in profit upfront before I start paying rent. That takes care of an air-conditioning unit or tuning it up and some HOA fees.
This has been a very interesting conversation. What would you like to say to some of the newbies out there that maybe are dreaming about going on this journey?
People ask me, “How much does it cost?” I said, “It doesn’t cost much compared to what you’ll get on your very first deal. What if you go out and get one deal a month? You’re running them out for $2,500 a month. In twelve months, that’s twelve deals.” If you look at the profit after you pay your rent to the homeowner on that twelfth month. You still want one deal a month. That’s like working two hours a month. In twelve months, you got twelve deals. You’re bringing in over $20,000 a month.
If you don’t have good credit and you don’t have money to rehab, you’ve got no excuses because it’s only a $10 binder fee. Unless you go to California, it’s a $100 binder fee out there. There might be a couple of other states. It might be $20 or $25 on the binder fee. You got no excuse. You don’t need your credit. If you’ve got $10, you can be successful using this as another tool in your tool belt, even if all you did was rent it out and not do a recast or a sub-to, or do a negotiated settlement with opposing counsel and pay that off and did a fix or flip, whatever you want to do, and using private money because you’re connected to Mitch.
You got all kinds of private money out there to pick it up and do private money and do whatever you want to do with it. You can do this without any of your own money or your own credit. It’s as easy as that. If I can do this and I stumbled across it and Mitch, you can do it. Any one of your student clients out there can do this as well.
That’s brilliant because it’s another offer to make when you want to buy a house. If you can’t agree on the price or maybe you’re smarter to go out in front and say, “Let me rent that house.” It’s in disrepair right now as it is for this little price per month or a little fee. That’s a great end. You don’t care if they want to keep accepting that little fee month after month, year after year, or if they want to sell it to you at a decent price. You’ll do that too, whatever they want to do.
Mitch, we’re marketing for homes. When we get homes like this, instead of throwing them out and saying, “That’s not what I’m looking for,” roll that back in. You’ve got a tool that you can use to create an income string, solve a problem, be a blessing to that homeowner, put cash in their pocket, and also have a nice monthly cashflow yourself. Let somebody else clean it up. Let your tenant clean it up.
That’s why I liked the seller finance strategy myself because I can sell the house with a hole in the roof. I’ll finance the house and the hole for 30 years at 10%. To me, one of the best strategies in the creative real estate industry is to buy it, don’t fix it, seller finance it for double, and watch the guy making payments to you go over budget, rehabbing your collateral. To me, that’s the most beautiful plan in the world.
I buy the house at 8:00 in the morning. It’s for sale at 12:30 or 1:00. I go get lunch and put it up for sale. When you’re seller financing, you don’t need an inspection report. I’m going to sell it with the four broken windows, the missing front door, and the hole in the roof at this price. You can fix it and make it whatever you want. I like that a lot. My friend, it has been nice. Make sure you go over to 1000Houses.com/CoachPat. Check it out and take advantage of that offer. It’s a real offer. It sells for $2,500, more or less all day long. You can get it for a little less than $1,000. It doesn’t take much to make back $1,000 if you get the right information.
You got to get your butt off the sofa. If you plan on keeping your butt on the sofa, don’t waste your time and move along. If “I’ve had enough” is pegged over in the red and that meter is pegged over there, you’re going to have to get in front of somebody and figure out how to get out of this mess that you’re in where you’re got a ceiling, and they won’t let you make any money. They tell you what to wear every morning, when you can go to your kid’s basketball game, how long you can stay on vacation, and how much money you can make.
If you’ve had enough of that crap, take a chance on someone. Coach Pat might be the right guy for you because he described to you a strategy that requires some of your time. You got to be an expert but it won’t take any money to speak up. That’s where we all started, in some strategy that we figured out that didn’t make any real money. Everything takes a little money. I hate those people that split hairs, “It costs money to drive gas.” You’re looking for excuses now. It costs money to sleep. If you don’t believe me, you stay in bed for about fifteen days. You have to get up and buy some food.
It’s been a pleasure talking to you. Please keep up your good work. People do show up to learn from you. You always have your heart in the right place because you’re a servant and you have a service attitude. I could have made a lot of money yanking the rug out from under people that were a couple of days later, whatever. Even in COVID, the ones that legitimately got hurt that had always been good and I can figure out that they weren’t lying to me or weren’t going to scam me, I would take their payments and put it on end, and we’ll start over again.
I didn’t want to take those people’s $20,000 that they gave me down and the improvements they did and the two years’ worth of appreciation. They had $60,000, $70,000 to lose that I could have profited from. I’m not in this business to take things away from people. The business has been way good to me, better than you might ever know. I sometimes think in this business, you can get around the wrong people. They can use these strategies and sometimes take advantage of people.
I don’t think that’s going to happen with Coach Pat. This man is a giver to the end. I liked that you would have a man like him as your coach because he’s centered, grounded, and got a belief in God and the right thing. That’s a good platform to be in. No matter what you’re trying to learn, it’s good to have a teacher like that. They won’t steer you wrong.
The two houses that I picked up that I was sharing with you and we’re selling, we have them under contract. I have a contract that allows us to make all the profit but I like the homeowner. He’s gone through hell and high water and a divorce. I told him, “We sell them. We’ll split it 50/50 if that would be okay with you.” This guy loves me. He goes, “Are you kidding me?” I’m like, “Yeah.” He goes, “I’m happy that you figured out a way to keep him from going to the foreclosure auction.”
You don’t have to glean the field. If you glean the field all the time, it comes around and goes around. You’ve got to be careful.
He wants to hunt down properties for me.
There it is. It’s already started that karma thing. It’s been a pleasure. One last time, 1000Houses.com/CoachPat, go over there and check it out. Check out his book, Preforeclosure Rental Profits. Get in contact and see what it’s about. You won’t go anywhere if you don’t take a chance, get out there, and start moving and hustling a little bit. Go out there and do it.
I would also like to thank Livecomm.com. I have no signs in front of my house. I’m selling my seller financed houses with no signs. I’m selling the last 200 on average, four days on the market. You can learn how I do that. It was very inexpensive. I used to pay thousands of dollars a month for classified ads. Now I can reach a world that doesn’t cost me anything, hardly pennies. Check it out. You can watch the video on the homepage and check out all the videos I have there. Learn how smartphone numbers can change your life and make selling things, not just houses, but services, pools, whatever. It can shortcut your sales process and cut your advertising budgets down to nothing, Livecomm.com. We’re out of here.
- 1000Houses.com/CoachPatCoach Pat Video
- 1000Houses.com/tff Tax Free Future Consultation
- 1000Houses.com/VAHelp Find the Perfect Virtual Asst
About Coach Pat Martin
CP and his wife Doreen are national leaders in the areas of online entrepreneurship and living life unplugged from anywhere in the world. They became full time real estate investors in 2003 and later Doreen went back to school and graduated as a Holistic Health Practitioner/holistic Doctor of Nutrition after the tragic death of her father.
CP and Doreen dug deep into their hearts to find their own path and true passion for entrepreneurship. From their pain and disappointments birthed their passions and with every tragedy comes triumph. CP has authored many real estate courses such as Cash For Keys, The Art of the BPO, The Real Estate Secret Weapon and his brand new course is called Pre-Foreclosure Rental Riches.
Back in 2007, CP gained national prominence and became a trainer and speaker on the largest RE stages across the country. However, their greatest joys are spending time with family and friends as well as helping to inspire and educate others on how to exit the “rat race” and to succeed with their own entrepreneurial careers and then give back to causes they are passionate about.
Since 2017, they have become more interested in the area of giving back, specifically in the country of Ecuador. CP, Doreen and their two kids Elisha and Hannah sold everything here in the states, chose to downsize and became minimalists with two suitcases each, backpacks and scuba dive bags and moved to South America with no plans on returning.
They launched His Mission of Love, a 501c3 nonprofit, that helps support orphans, elderly, refugees and a Waorani village in the Amazon jungle. (The Jim Elliott Story and Movie, The End of the Spear). They are routinely praised for their authentic leadership style, business principles and passion for giving back.
Presently, they enjoy focusing on writing books, coaching, speaking and presenting, online programs, growing their Martins unplugged podcast, giving back, and learning more about living a life of abundance with less. After living 4 years in South America, they have returned to their home state of Florida and are preparing for their next adventures.
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