246 - How To Raise Capital | REI Show - Hard Money For Real Estate Investor

00:00:01

Greetings, everyone. Welcome to the show. We are going to talk about capital raising and why it's important to your deals right after this.

 

Wendy Sweet

00:00:34

That's funny. That's like a so funny when you see people on the news doing a news set and they say something and they just wait for stuff to happen and they wait for stuff to happen, it's,

 

Bill Fairman

00:00:45

Well, just so you guys know, half of our, our crew is in another country, so it's occasionally there.

 

Wendy Sweet

00:00:52

Two different countries.

 

Bill Fairman

00:00:53

Yeah. There, there's occasionally a little bit of lag time when we talk. So that's, that's really it.

 

Wendy Sweet

00:01:00

So the whole show's coming from three different countries. That's true. Actually. That's pretty

 

Bill Fairman

00:01:03

Cool. And technology amazing. It anyway is, thank you so much for joining us on the Real Estate Investor Show Hard Money for Real Estate Investors. We are Carolina Capital Management and we are private lenders for real estate investors in the Southeast. If you'd like us to take a look at one of your projects, go to carolina hard money.com and click on the apply now tab. If you're a passive investor looking for passive returns, then click on the accredited investor tab. Don't forget the like, share, subscribe, Hit the bell. And don't forget about Wednesdays with her.

 

Wendy Sweet

00:01:38

Woohoo. Awesome.

 

Bill Fairman

00:01:46

Wendy devotes like 30 minutes per person, right?

 

Wendy Sweet

00:01:50

Yep.

 

Bill Fairman

00:01:51

Every Wednesday, but she's booked out a couple of months in advance, so get on her calendar

 

Wendy Sweet

00:01:57

That, And I actually got this idea from our guest that's coming on.

 

Bill Fairman

00:02:01

That's right. It was Tuesdays with Jeff,

 

Wendy Sweet

00:02:05

Whatever, whatever day anybody could get in with Jeff that, that's the big thing.

 

Bill Fairman

00:02:09

So, So anyway, the link is right there and also in our comment section, which is on the right side of your screen or underneath, depending on the platform you're viewing us from. Anything else to add?

 

Wendy Sweet

00:02:21

Well, I just want to say this, you know, we always talk about, you know, if you're interested in passive investing to go in and, and click on our pass our investor tab. But I, we've got some bragging rights. We've, we've had, we've had a phenomenal year. Our trailing 36 month is really good, but I, I mean our, our last quarter we were at 10.76

 

Bill Fairman

00:02:46

And this is not a solicitation for selling of any type of security. Do your due diligence, your mileage may vary, blah, blah, blah

 

Wendy Sweet

00:02:56

Ppm. Yes, it's very important to do that. But we need to, I mean we need to talk that, cuz it's been, it's been really great. It's been over, well over 10 for the

 

Bill Fairman

00:03:04

Year. The, the real estate business. While it sounds like it's really going downhill, if you listen to the news, it's still way outperforming the

 

Wendy Sweet

00:03:13

Stock market and it's adjusting to normal. Yeah. Which is really nice. We, we all need a little normal.

 

Bill Fairman

00:03:19

All right, real quick, some breaking news. Good Lord.

 

Wendy Sweet

00:03:42

It, So now the news isn't breaking anymore. It's, it's old already.

 

Bill Fairman

00:03:46

It's, it's old news now. So the Fed raised the rate another 75 basis points.

 

Wendy Sweet

00:03:55

That's right.

 

Bill Fairman

00:03:56

It's like there's, it's like 3% height now since they started, or at least close to it.

 

Wendy Sweet

00:04:02

I can't wait to hear Brian Maddox talk about it tomorrow on our sunrises meeting that we have every Friday morning at 7:30 AM

 

Bill Fairman

00:04:10

Yeah. And I'm sure we'll have a link to that over here in the comment section

 

Wendy Sweet

00:04:13

As well. Yeah, yeah. It's, we, we'll talk in depth about that. That's, that's good stuff.

 

Bill Fairman

00:04:17

Yeah. There it is right here.

 

Wendy Sweet

00:04:18

Yeah. Awesome.

 

Bill Fairman

00:04:19

Sweet. Thank you. Sha

 

Wendy Sweet

00:04:21

We, we also know that when the Feds hike the rates like that, that it really isn't your mortgage rates that are going up 0.75. A lot of people assume that it's completely correlated and it is attached a little bit, but really

 

Bill Fairman

00:04:40

Historically, the Fed is always chasing the market, right?

 

Wendy Sweet

00:04:43

That's right.

 

Bill Fairman

00:04:44

If you, if you, well, you have to know people that have the graphs, but they're always behind the curve. Yeah,

 

Wendy Sweet

00:04:51

Always. Yeah, for sure.

 

Bill Fairman

00:04:53

They're trying to destroy the housing market and they're working on it pretty well. Yeah,

 

Wendy Sweet

00:05:01

We're not gonna let 'em do that

 

Bill Fairman

00:05:02

Though. What

 

Wendy Sweet

00:05:04

Else? So I was reading this morning on a newsletter that I follow called Essa, S T E S S A. They always have some good information, but they were really talking about the rent and apartment complexes versus single family residential, which I thought was really, really interesting. You know, apartment apartments have been going up and up. The rents for apartments have been going up and up. The vacancies have been going lower and lower, which it's been very, very strong and it will continue to remain strong. However, what we're seeing is that one and two bedroom apartments are for the first time in a very long time going down in price, which I thought was really interesting. And you brought up, because people are getting roommates to, to

 

Bill Fairman

00:05:59

Probably having higher vacancy rates. So they're bringing their rates down a little bit. Yeah. Try and fill 'em, but it's because people can't afford to live on their own

 

Wendy Sweet

00:06:07

Anymore. Yeah, yeah. But the whole point of that article is really to talk about single family rentals and how strong the rent is for a single family home. And, you know, it's a great day to be in the buy and hold business. It's always a great day to be in the buy and hold or the build and hold business. It's, it's,

 

Bill Fairman

00:06:32

But it happens. If you can't afford mortgage payments, you have to rent. You

 

Wendy Sweet

00:06:36

Get cold.

 

Bill Fairman

00:06:37

Yeah. You have to rent. Yeah. So there you go. For sure. Or if you can't buy a house, you can rent one until the rates come down. That's right.

 

Wendy Sweet

00:06:44

Right. That's exactly right.

 

Bill Fairman

00:06:46

Or you can find one with a lease to own kinda deal as well.

 

Wendy Sweet

00:06:49

That's exactly right.

 

Bill Fairman

00:06:50

All right. So enough Gibber, Joe.

 

Wendy Sweet

00:06:52

Well, I wanna talk about, just a quick point too, for the sunrises for our meeting on sunrises. Tomorrow at seven 30 is on Zoom and that link is right there in in the chat box. We are going to be talking about subject to real in, in real estate, in the real estate business, which is basically taking over a property subject to the financing in place. So I'm really excited about us talking about that

 

Bill Fairman

00:07:20

One thing, that

 

Wendy Sweet

00:07:21

Particular type.

 

Bill Fairman

00:07:22

I have a quick question before we move on. I'm always concerned about how you get the person that has the mortgage to agree to take over that mortgage when they're ultimately responsible for it.

 

Wendy Sweet

00:07:35

Well, you need to turn tune in tomorrow and because that's the topic we're gonna talk about

 

Bill Fairman

00:07:41

For that would be my biggest fear is letting somebody else take over my mortgage, even though I'm the one that's on

 

Wendy Sweet

00:07:47

The Yeah. And there are ways around that. We're definitely gonna gonna talk about that tomorrow.

 

Bill Fairman

00:07:51

It's a great way to do it because you know, obviously you're not gonna take over a, a loan with a high rate.

 

Wendy Sweet

00:07:56

That's right. Not these days.

 

Bill Fairman

00:07:58

That's right. That's

 

Wendy Sweet

00:07:59

Right.

 

Bill Fairman

00:07:59

And they don't have any more non qualifying FHA loan assumptions out there anymore.

 

Wendy Sweet

00:08:04

Nope. Long gone. So folks, we are really, really excited about our guests today. You'll, you may have noticed if you've been watching for the past, what, four weeks? Three weeks? Four weeks. We have been talking about raising capital and raising capital from your financial friends, which could be your family and friends, people that you know, like, and trust. And we really wanted to end this theme with a dear, dear friend of ours, Jeff Johnson, who is the bomb. And he's really, really good at raising capital. That's how he runs his business. So folks,

 

Bill Fairman

00:08:48

And, and by the way, he's also known for packing more than one belt with him when he travels. So thank you for that.

 

Wendy Sweet

00:08:54

Evidently he pulled you out.

 

Bill Fairman

00:08:56

I forgot to pack my belt.

 

Wendy Sweet

00:08:59

So here's our friend Jeff Johnson. Jeff, welcome, welcome to the show my friend.

 

Jeff Johson

00:09:05

Hey guys, how are we doing?

 

Bill Fairman

00:09:07

Great. Wow. You look like you're like doing a reality show.

 

Jeff Johson

00:09:12

Well, this is a house that I just finished and is going on the market tomorrow. Is that right? Tomorrow.

 

Wendy Sweet

00:09:17

Wow.

 

Jeff Johson

00:09:18

Look tonight at that

 

Wendy Sweet

00:09:19

Beautiful, beautiful kitchen.

 

Bill Fairman

00:09:21

That's gorgeous.

 

Jeff Johson

00:09:22

Yep. So there you can get a little, a little vision, a little view of what's going down.

 

Wendy Sweet

00:09:27

That is gorgeous. Okay. Tell us a little bit about, Oh, look at that fireplace. Oh my goodness. Tell us about this house. Where is it? What's the price? What, what's the deal?

 

Jeff Johson

00:09:39

Okay, so this is one of four houses that I built up in Oakhurst, which is 28, 2 5 in Charlotte

 

Bill Fairman

00:09:46

Live there. My first house was in

 

Jeff Johson

00:09:48

Oakhurst. Yeah, yeah, yeah. So I bought a, I bought a lot and you guys saw Shannon, my realtor, actually Shannon helped me get this lot, but bought this lot from the guy. There was a single house on it. We ended up splitting it into four lots. So I built four houses down the, down the road here. And so this is the first one that's going on the market. So let's see, I paid 4 65 for the lot. So what is that? A little over a hundred thousand dollars per building lot. Yeah. Not too bad.

 

Wendy Sweet

01:10:21

Not in that area.

 

Jeff Johson

01:10:23

Yeah. So my build cost in these is right around three 50 I think. So this is a 2,700 square foot house, this one. And this one's going on to market tomorrow or tonight for 7 99 9. So not too bad.

 

Wendy Sweet

01:10:37

Wow. Wow. That is awesome. Okay, I'm so glad you're throwing those numbers out. So Jeff, how did you finance this? What, where'd you get the money? What'd you do to raise it? Tell, tell me about what that looks like.

 

Jeff Johson

01:10:51

Well this, this actually was a combination. So I actually did an partial owner finance. So the lot was 4 65 and the owner actually gave me a $300,000 owner carryback. So I only had to come to the table with 165 grand.

 

Wendy Sweet

01:11:09

Wow. Nice.

 

Jeff Johson

01:11:11

And then he, he subordinated his loan to a bank loan. So I actually was able to do all this construction with a bank loan. But that, you know, that's taken me years to get to that point and build my business to a point where I can go in and get a, you know, $1.5 million loan to build four houses. So.

 

Wendy Sweet

01:11:26

That's awesome. And what kind of a bank is it? Is it a local bank? A a credit union, a regional bank?

 

Jeff Johson

01:11:32

It's a, it's a local bank. Yeah, it's a local bank that I've had a relationship with for probably seven years now. They've financed several homes for me over the years. So we've got a, you know, ongoing relationship.

 

Wendy Sweet

01:11:45

That's awesome. That's awesome.

 

Bill Fairman

01:11:47

You know, you're, you're throwing those numbers out there and I told you my first home was in Oakhurst. I paid 23 5 for a 14 year square foot two story house on Commonwealth Avenue.

 

Jeff Johson

01:12:00

Don't, don't you wish you, I built one on Commonwealth too. Don't you wish you would've kept that?

 

Bill Fairman

01:12:04

Yeah. Oh my gosh, no doubt. Absolutely.

 

Wendy Sweet

01:12:07

He even had his motorcycle in the living room. I remember that. It

 

Bill Fairman

01:12:11

Was never in the living room. It was in the foyer.

 

Jeff Johson

01:12:13

Nice, nice.

 

Wendy Sweet

01:12:16

So are you nervous at all about being in that price range in these dark times that we're living in?

 

Jeff Johson

01:12:26

Well, sure. I mean, everybody's a little bit nervous. I mean, you know, I think part of the problem was, is we all got used to things selling in 35 minutes and now it's kind of back to normal the way it was before Covid. So, yeah, I mean this is, I started my business in oh nine, so I was used to, you know, two months, three months to get something under contract. So this is not something I haven't experienced before, but I think a lot of people who just got started are probably a little bit freaked out because it, you know, they didn't figure in holding onto their properties for three months or six months. They didn't figure that into their costs. Plus, you know, everything got so expensive there for a little while that, that everybody just assumed that they were gonna make their money on the back end. You know, I always say you make your money when you buy the property, just like I did with this property. I made my money when I bought this property. If I'd have paid a million dollars for this, I'd be super nervous.

 

Wendy Sweet

01:13:19

Yeah. Yeah. I actually had a call this morning from someone that we did a loan for. She's still in it eight months into it, you know, the contractor didn't really do a right. She had to let him go. So she's working with a new contractor, but unfortunately her, you know, our appraisal subject to appraisal when she bought it came in at 2 65, 8 months ago. Right. And her agent told her she could easily get a little over 300 for it. So I, you know, I, and, and, and so she's been moving forward in her head, putting her own money out instead. Yeah. Because we're only gonna fund from the numbers we run. And now she's sitting at a place where, you know, she'll be probably getting what the appraisal originally said it would be worth. And she's, she's not gonna make any money on this deal. I mean, that's the difference between somebody new and somebody that's experienced.

 

Jeff Johson

01:14:20

Right. Well I think, I think a lot of what you're seeing is people who, you know, way overpaid because they wanted, they just wanted to keep growing or they wanted to get more property. I actually really, I kind of stopped buying rehab property the last few years because I saw what was happening with the prices and I knew it couldn't last.

 

Wendy Sweet

01:14:39

Right.

 

Jeff Johson

01:14:40

So I sort of tapped out, kept doing new construction and cuz I can add the most value doing new construction. Sure. And there's less unknowns, you know, once I, once I get the foundation outta the ground, there's really not a whole lot of unknowns when it comes to cost.

 

Wendy Sweet

01:14:53

Right.

 

Jeff Johson

01:14:54

So, so

 

Wendy Sweet

01:14:55

Jeff, talk a little bit about really how you started raising funds and what kind of people you were approaching to lend you money. How, how did you get started and all that? Cause I, I think you are just so superb at having a good tool bag full of financing opportunities.

 

Jeff Johson

01:15:23

Well, it's a, I mean it's a, it's a long story but a short story. I mean, I I, I started, you know, rehabbing in oh nine and I was in a, I was actually in a men's group with our church and I used to drag my trailer to the men's group cuz I'd be, you know, that was my Fridays as the days I'd go do my real estate. And I was doing it all with, you know, hard money loans or whatever. And, and one of the guys in my small group said, Hey, what's with the trailer? What are you doing? And I started to explain to 'em and I had just taken a class on borrowing money from people's self-directed IRAs. And so this was a friend from, from my men's group. And so I used all the tools. I just had, I had just learned and said, Hey, you know, if you want to invest with me, you can lend me money from your 401K and I can pay you a return.

 

Jeff Johson

01:16:16

And I think that the stock market had tanked at that point. So he was very unhappy with his stock returns. So I ended up borrowing I think $50,000. We ended up changing his IRA over to his self-directed ira and I ended up borrowing, I think $50,000 from him to help with one of my projects. And then I returned his money and then he said, Well now I have a hundred. So I, I'm, I'll lend you a hundred pretty soon. He, he had basically liquidated his entire regular 401k with his jobs. He worked for Bank of America and, and had put it all in a self-directed RA and, and, and lent me every penny that he had in his retirement account. And he still does. So that was in 2009. So what is it now? 2022. So he is been lending to me for 13 years and I think we've tripled, I've tripled his money since he started as he started lending to me.

 

Wendy Sweet

01:17:08

That's awesome. Now is, is he, are you doing the same kind of deal with him that you did in the beginning or has your, have your ch terms changed

 

Jeff Johson

01:17:19

Any Nope, same exact same exact terms. We haven't changed anything. It's been the same interest rate since day one. I have not changed it one bit. It's, you know, it, in my mind I wanted to give my lenders a return that was good enough that they wouldn't go anywhere else. And that, you know, once we build that trust relationship that they know that, that they're gonna get a great return and they're gonna get their money back to me because what, I don't buy any crappy deals. And then, but I didn't want it to make it too much to where I couldn't actually deploy the capital. Right. You know, I think that's part of the problem is you get a lot of private lenders, they want these crazy interest rates and it's, right now it's almost impossible to deploy the capital, which is as, as expensive as it is to rehab properties and build. I mean, gosh, my build costs went from, for these houses I used to probably maybe $120 a square foot. I'm $175 a square foot.

 

Wendy Sweet

01:18:18

Wow. Wow.

 

Jeff Johson

01:18:20

And that's in two years. Wow. So, so that only took two years for that change to happen. So it's gonna get harder to deploy expensive capital in this market. So

 

Wendy Sweet

01:18:30

Now is, is he lending Yeah. You know, in a secured position or are you, is he just lending to your llc?

 

Jeff Johson

01:18:39

Okay, so he's, right now he's lending us about a million dollars total and he's probably got about half of that inec secured loans. And then the other half is in unsecured, you know, loans to the llc. But one of the things we don't do is just have that money floating around in the Ethereum. We actually have it assigned two properties. So it does have an as it does have assigned property that it is loaned on. Right. But we just don't have a deed to trust on it.

 

Wendy Sweet

01:19:10

Gotcha. So, Gotcha. So, so how has he helped you if, if at all, raise more capital?

 

Jeff Johson

01:19:20

Well, he was very stingy at first cuz he didn't want me to go borrow money from anybody else cuz he, you know, he wanted to keep his capital working. But I, I told him, I said, I won't go borrow any more money until I'm sure that I can keep your capital work in. That happened like year two. So I met another guy, bought a, another crazy story. I bought a inversion table for my back off of Craigslist and it was a trailer both times that got me, this got me this money, which is funny. So I had my trailer to go pick up the, the inversion table and the guy said, Hey, you know what's, so what do you do? You get a trailer? And I told him, you know, I i I flip houses. And he's like, Oh, I'm really interested in that. So I ended up sitting down with him and having lunch.

 

Jeff Johson

02:20:01

So what, what I did between my first and second lender is I actually put together what's called a credibility package where I took all of the deals that I had done and I listed them out what I paid for 'em, how much my rehab was, how much I sold them for, and then how much my investor got paid. My, my lender got paid and I think at that point I had maybe 12 or 13 properties that I had done. And so I was able to give them this, you know, 10 page credibility package and show 'em like, here's the listings, here's the price I paid, here's how much I made, here's how much my lender made. And that was, that made it so much easier once I had that credibility package to start having those conversations. So once I got that done and I had that second lender, I just started meeting with other people and I started, actually, I didn't really solicit, but you know, you, you can make posts on Facebook and you get people who are interested in what you're doing and then you're ha starting to have these conversations. And I started beating people for lunch and for breakfast and taking 'em to my properties and showing 'em what I was doing. And you know, it just unlocked all sorts of doors with money cuz you, I mean, it would blow your mind how many people have money sitting in an IRA or a 401K that's not doing anything.

 

Wendy Sweet

02:21:15

Right.

 

Jeff Johson

02:21:17

Lots of people, it's just sitting there, they don't know what to do with it. They're afraid to put it in the stock market, but they don't know how to invest it in real estate and they don't want to, they don't wanna actually own any real estate or flip real estate cuz they know that that is a, you know, not passive investing. So I just started having those conversations and then, and then of course, you know, I wrote that book a few years ago and now if somebody's interested I just send 'em a copy of the book and say, Here, read this and then let's talk when you're done reading it. So I don't even have to explain the process anymore. It's all in

 

Wendy Sweet

02:21:48

The book. That's awesome. What's the name of that book, Jeff?

 

Jeff Johson

02:21:51

It's called Retirement Returns With Real Estate. And I actually wrote it for other investors to be able to use. So I have people all the time that will send that copy of that book to a potential lender and say, Here, read this book and then let's have a conversation and it just saves you, you know, three or four lunches or breakfasts of Yeah. Explaining how it all works. And then the questions are just like, okay, what's, what's the project and how much do you need? That's what I want to get to before I even have a conversation with somebody. I want them to feel comfortable enough that I know what I'm doing. That they're just asking me, Okay, what's the project? Right. What are we talking about here?

 

Wendy Sweet

02:22:28

So, so here's what I think is so super cool of what you've been able to do. Number one you put together, and I love the name of it, your credibility package. Yep. You're, you're showing people what you do because you're, you're going after two different personalities. You've got the engineer person that wants details and numbers and that kind of thing. And then you've also got pictures and graphs and things for the other type personality that wants to see the summary and hear the stories. That's, that's perfect. Yep. The other thing that I love that you did is you put together a book. You're teaching them how they can become wealthy.

 

Jeff Johson

02:23:09

It's Exactly education I think is so important. I mean, and, and I think the other thing too is, you know, I ran a, I ran a, a subgroup for the local R for a long time for about six years. And I used to do education in that group for potential lenders. There was no no pitch. I wasn't trying to actually raise money, I just wanted to teach people about how to use private money. And so I ended up getting, you know, a lot of people that had private money come to that meeting and then ended up creating a relationship with them and borrowing their money. So it's really been sort of of organic the way it's all happened. But the funny thing is, once you push, start pushing that 600 pound boulder, once it starts rolling, it's hard to stop it because, you know, then you have people throwing money at you and you're like, Hey, I need to hold on. I need to get some more projects and some more things. That's right. So I can, you know, that's a good problem to have cuz you in, in real estate, you almost al you always have either a money problem or you have a house problem.

 

Wendy Sweet

02:24:06

Right.

 

Jeff Johson

02:24:07

So you either have too much money, not enough houses, or too many houses, not enough money. Yeah. I'd rather have the too much money, not enough houses problem. Yeah,

 

Wendy Sweet

02:24:15

Yeah. You and me both. You and me both.

 

Bill Fairman

02:24:17

So you go back to your original lender

 

Jeff Johson

02:24:20

Yeah.

 

Bill Fairman

02:24:21

Bank of America. And you

 

Jeff Johson

02:24:23

Well he worked, he worked for Bank of America. Yes. Right.

 

Bill Fairman

02:24:26

Yes. But you know, he has the opportunity to get with b of a wealth management so he could put all of his money. I mean, they're very well known for all their wealth management stuff. I wonder how much he would've made if he would've stuck with the traditional way of earning in his

 

Jeff Johson

02:24:43

Farm. Definitely not. The returns that he got from us. Not even close. Right?

 

Wendy Sweet

02:24:47

That's right.

 

Bill Fairman

02:24:48

Isn't it? Isn't it weird how that works? The people that actually are in the financial industry finally get that light going off, What, what am I doing here?

 

Wendy Sweet

02:24:59

Yeah. Yeah.

 

Jeff Johson

02:25:00

Well the other cool thing too is, you know, he's been a, he's been part of my growth. So every year when we, when we, you know, look at our profit numbers, I always send him, I send him an email or we go have lunch or breakfast or whatever and I say, you know, I could not have, I literally could not have done this without you trusting me with your money.

 

Bill Fairman

02:25:18

Sure. That that's awesome. No, he appreciates it.

 

Wendy Sweet

02:25:21

What a gift.

 

Jeff Johson

02:25:22

Yeah, no, absolutely. So he's been part of my journey. Every lender's been part of my journey. And then when we started Better Path Homes and really started to grow, I think we're, I think we have 70 some odd houses being built right now. We have, you know, dozens of lender partners that have come alongside of us and we've been able to help them build their wealth and they've watched us build our business. It's been a really wonderful partnership.

 

Wendy Sweet

02:25:43

That's awesome. And you lend your money too. You're, you're self

 

Jeff Johson

02:25:47

An IRA money? I, yes. I led to you

 

Wendy Sweet

02:25:51

Fact.

 

Jeff Johson

02:25:51

I put my money where my mouth is.

 

Wendy Sweet

02:25:53

I'm gonna get some more here shortly too. So,

 

Bill Fairman

02:25:57

So you know Chris Miles? Yeah. We had him on the show a little while back and he was telling us a story about his dad because, you know, Chris' is used to be a financial advisor, he's now the anti financianal advisor. And his dad wanted to retire. He'd had a 401k, all of his, you know, working adult life. And he asked Chris to take a look at it and asking kind of where he was. And Chris said to him, you know, you've done all the right things, you've done everything that is expected of you in a 401k. Your only problem is you have to die in five years.

 

Jeff Johson

02:26:36

Right. Cuz you can't afford to live any longer than that.

 

Wendy Sweet

02:26:38

Right. Yeah, that's for sure. I, I, I'm just, I'm telling you, Jeff, I've known you for such a long time. You're a dear friend, an awesome human being, and I'm, I'm just blessed to have you in my life, but, and I'm so excited to have, have watched you turn into this incredible successful real estate investor and builder in, in the, the time that I've known you. Just watching you grow has just been incredible and learning from you. And you know, I, I steal all these great ideas that you have and I appreciate that you allow me to do that. It's, it's just, it's been a pleasure and, and I can't wait to see what you have in the future. And, and we're so grateful that you came and Yeah, absolutely. And shared this information with us that I think it's important that people know that everybody can do this.

 

Jeff Johson

02:27:32

Yes.

 

Bill Fairman

02:27:33

How can people get ahold of your book anyway?

 

Jeff Johson

02:27:36

It's on Amazon. You can just look it up. It's Retirement Returns with Real Estate. Jeff Johnson's the author and I, I have it, I have it priced, you know, so cheap that you can just send 'em to your friends and family, whoever you want to talk to about Awesome, awesome. Investing with you. So that was the whole point was to be, you know, give others a tool, a very specific tool so it's very specific to our industry so that they could have start having those conversations with people.

 

Wendy Sweet

02:28:02

Right, right. Awesome.

 

Bill Fairman

02:28:04

Well, Valerie just made a comment saying that she can't wait to read your book. Thank

 

Wendy Sweet

02:28:08

You. So yeah. Oh look, there, there it is.

 

Bill Fairman

02:28:11

See, see how quick our staff is. Yeah.

 

Jeff Johson

02:28:13

Bam. Look at that. There you go.

 

Wendy Sweet

02:28:15

There you go.

 

Bill Fairman

02:28:17

That's

 

Wendy Sweet

02:28:18

Awesome.

 

Bill Fairman

02:28:18

So the first time I met Jeff, he was working on the house right next to me, which was kind of funny. I won't get into that story, but it was a good one. It has been, it's been quite the journey since then, hadn't it?

 

Jeff Johson

02:28:30

Yes, it has. It has. That was a, that was a funny story.

 

Bill Fairman

02:28:33

When we have an, when we have an additional hour, I'll,

 

Wendy Sweet

02:28:36

I'll tell.

 

Jeff Johson

02:28:37

Yeah. Okay. Deal.

 

Wendy Sweet

02:28:39

Jeff, thank you so much for coming on. We really, really appreciate your, your, your story and, and your, your desire to share with, with everybody. Thank you so much. Yeah,

 

Bill Fairman

02:28:50

We're

 

Jeff Johson

02:28:50

Gonna thank you guys.

 

Bill Fairman

02:28:50

Green room for just a second while we close this thing out so we can thank you properly, if you don't mind.

 

Jeff Johson

02:28:58

Okay. Thanks guys. Thanks

 

Bill Fairman

02:29:00

Jeff. Folks, thank you so much for joining us on the Real Estate Investor, Show Hard Money for real Estate Investors. We are Carolina Capital Management. We are private lenders in Southeast for real estate professionals. If you'd like us to take a look at one of your projects, go to carolina heart money.com, click on the apply now tab. And if you are a passive investor that doesn't wanna give money to Jeff, click on the accredited investor tab. Don't forget to like, share, subscribe, and hit the bell. Don't forget about Wednesdays with Wendy. See you guys next week. Bye.