Be There… In Person

 

This week was one of my favorite meetings of the Calhoun Creative Deal Structuring Luncheon, which I host on the fourth Wednesday of every month.

I’ve been hosting this free event for two and a half years now. And as anyone who has ever started a recurring event knows, there comes a point when you begin to wonder whether the commitment you’ve created is really worth it — or if it’s just become another obligation that consumes your time.

 

This month reminded me exactly why I started it.

 

The goal has always been to get people in the same room to learn different ways to buy and control real estate without needing large amounts of cash or traditional bank financing.

 

That matters to me because creative deal structuring is what opened the door for Ashley and me to become real estate investors. When we started, we were two broke kids fresh out of college with inconsistent income and a mountain of student loan debt.

 

To give you an idea of where we were financially, we were getting turned down by landlords because our income wasn’t steady enough to rent an apartment. At one point, I honestly thought I was going to have to finish my parents’ basement just so we’d have somewhere to live after our honeymoon.

 

Instead, creative deal structuring changed everything.

We bought our first house subject-to, moved into it, and began building from there.

 

It worked for us then, it’s still working for us today, and I want that knowledge to be accessible to anyone willing to learn it.

 

This month’s meeting brought together a great mix of people. We had real estate agents, brokers, traditional lenders, wholesalers, mobile home investors, private money lenders, landlords, and flippers. One attendee had just purchased their very first investment property. Another had recently completed their first deal.

 

The latter admitted they hadn’t made much money.

 

But they had learned a tremendous amount — especially about what not to do.

 

What made the meeting so enjoyable wasn’t the presentation.

 

It was the conversations.

 

Part of that was because my mentor, Bill Cook, was there. Bill has a genuine curiosity about people that naturally encourages them to open up and share what they’re thinking.

One of my Realtors, Mandy Parker, was sitting nearby as Bill talked with the newer investors. I quietly pointed out how naturally Bill draws information out of people.

 

That’s an incredibly valuable skill when talking with sellers about creative deal structures, and it’s something you only develop through experience.

 

Mandy smiled and said you could tell Bill had spent years practicing it.

 

The deal we discussed that day is one many investors will probably encounter sooner or later.

 

A family had recently purchased a home when life suddenly changed. A job transfer forced them to move before they had built enough equity to sell through a Realtor. They were now making two mortgage payments while trying to sell the house themselves.

 

Because the purchase was so recent, the combination of the loan balance and interest rate meant the property wouldn’t cash flow as a rental.

 

In other words, they weren’t underwater.

 

But they were definitely bobbing at the surface.

 

The room suggested several possible solutions, from purchasing an option on the property to buying it subject-to and then lease-optioning it to an end buyer.

 

Then Bill pointed out something important.

 

Because the margins were so thin, owning this property actually created unnecessary risk.

 

Many people mistakenly believe they have to own real estate to profit from it.

 

They don’t.

 

Bill suggested using a performance master lease instead.

 

Under that arrangement, he would lease the property from the owners for about $200 below market rent while receiving the right to sublease it. He would then place a quality tenant in the home at market rent. When the tenant paid him, he would keep the $200 spread and send the remainder to the seller.

 

It’s important to point out that Bill only owes rent to the seller if he has a paying tenant in the property.

 

That’s the “performance” part of a performance master lease.

 

This dramatically reduces the risk while still allowing the deal to produce a profit — all without owning the property or investing money into it.

 

And just so you know…

That’s exactly how we structured that deal.

 

As I sat back and watched everyone interacting, asking questions, and learning from one another, I couldn’t help but smile.

 

This kind of camaraderie is something I’ve missed.

 

Before COVID, in-person investor meetings were everywhere. That’s where I met many of my closest friends, found business partners, and learned lessons that shaped my investing career.

 

Since COVID, more and more meetings have moved online.

 

While that’s certainly convenient, something valuable gets lost when people stop gathering in person.

 

The same thing is happening with seminars.

 

Between online coaching programs, YouTube, and now AI, fewer people are attending live events.

 

But sitting behind a computer simply isn’t the same.

 

You don’t get the hallway conversations.

 

You don’t build the relationships.

 

You don’t get to watch someone like Bill work through a problem in real time.

 

And sometimes those moments teach more than the presentation itself.

 

That’s certainly how it worked for me.

 

Speaking of Bill, he and Kim Cook will be hosting their annual What Box Seminar on September 12–13 in Tampa. It’s a live, two-day event focused entirely on creative deal structuring.

 

Depending on attendance, this may be the final year they offer it.

 

And if that happens, there won’t be anything like it to replace it.

Real investors from around the country will be there with the same go-giver mentality Bill demonstrates every day. You’ll gain practical knowledge, meet experienced investors, and build relationships that can help your business long after the seminar ends.

 

For more information, visit BillandKimCook.com.

 

Some lessons can be watched online.

 

Others have to be experienced in the room.

 

So, if you have the opportunity…

 

Be there… in person.

 

Joe and Ashley English buy houses and mobile homes in Northwest Georgia. For more information or to ask a question, go to www.cashflowwithjoe.com or call Joe at 678-986-6813.