You go into business to fulfill a demand in order to satisfy your own – Quid Pro Quo! But what do you do when you run out of “Quids” to the market’s “Quos”? You have to remember… There’s always more than one way to PROVIDE a SOLUTION. If the solution isn’t readily available… It’s up to you to get CREATIVE and come up with a NEW SOLUTION! Chandra Lacy wasn’t one to just up and quit being a real estate agent simply because of a decrease in inventory. Chandra’s clients needed homes, and she knew they’d sooner reach out to a different agent if she couldn’t deliver. And so, Chandra decided to take things into her own hands and create more inventory! She immediately began to work with investors to assist in renovating properties to create beautiful "like-new" homes. There began her flipping business, in which she has successfully flipped 30 homes in two years, using only investor money and NONE of her OWN CASH! What’s truly amazing is what Chandra does with the profits she makes from flipping homes; she purchases rentals to expand her portfolio in order to achieve the financial freedom she desires for her family. Chandra has grown her portfolio to 90 doors in just 9 months, getting into RV Parks, Mobile Homes, and Storage Units. As a single mom and survivor of domestic violence, she knows what it’s like to for women to struggle – and that doesn’t sit well with her, now that she knows the secrets to creating a better life for herself and her child. Chandra leverages her skills and industry knowledge to pursue her passion for teaching other women how to reach financial freedom. How did she scale her portfolio to 90 units in 9 months WITHOUT using her own money? How do you transition from real estate agent to investing and managing sales clients, flipping, and landlording all at once? Check these out to learn more about Chandra Lacy and her REI empire: Instagram: @chandralacyrealestate_Facebook: Chandra Lacy Tune in to learn more about the hottest and most relevant information on real estate investing! Thank you all for listening and I will see you on the next episode. When you're ready, head on over to Landing Page https://billyssecrets.com To get some neat (and FREE) Tools | Tips | Tricks to help you in REI!
You go into business to fulfill a demand in order to satisfy your own – Quid Pro Quo!
But what do you do when you run out of “Quids” to the market’s “Quos”?
You have to remember…
There’s always more than one way to PROVIDE a SOLUTION.
If the solution isn’t readily available…
It’s up to you to get CREATIVE and come up with a NEW SOLUTION!
Chandra Lacy wasn’t one to just up and quit being a real estate agent simply because of a decrease in inventory.
Chandra’s clients needed homes, and she knew they’d sooner reach out to a different agent if she couldn’t deliver.
And so, Chandra decided to take things into her own hands and create more inventory! She immediately began to work with investors to assist in renovating properties to create beautiful "like-new" homes.
There began her flipping business, in which she has successfully flipped 30 homes in two years, using only investor money and NONE of her OWN CASH!
What’s truly amazing is what Chandra does with the profits she makes from flipping homes; she purchases rentals to expand her portfolio in order to achieve the financial freedom she desires for her family.
Chandra has grown her portfolio to 90 doors in just 9 months, getting into RV Parks, Mobile Homes, and Storage Units.
As a single mom and survivor of domestic violence, she knows what it’s like to for women to struggle – and that doesn’t sit well with her, now that she knows the secrets to creating a better life for herself and her child.
Chandra leverages her skills and industry knowledge to pursue her passion for teaching other women how to reach financial freedom.
How did she scale her portfolio to 90 units in 9 months WITHOUT using her own money? How do you transition from real estate agent to investing and managing sales clients, flipping, and landlording all at once?
Check these out to learn more about Chandra Lacy and her REI empire:
Instagram: @chandralacyrealestate_
Facebook: Chandra Lacy
Tune in to learn more about the hottest and most relevant information on real estate investing!
Thank you all for listening and I will see you on the next episode.
When you're ready, head on over to
To get some neat (and FREE) Tools | Tips | Tricks to help you in REI!
SUMMARY KEYWORDS
properties, wholesalers, business, real estate, buy, market, flip, key, find, people, business partner, seattle, returns, pay, investors, money, cash flow properties, investment, building, zestimate
SPEAKERS
Billy, Chandra
Billy 00:00
Hey, what's going on guys welcome back to another episode of unstoppable REI. Well, this is episode 70 With Chandra Lacy lives up in Washington this state that miserable cold dreary state where there's nothing cold and dreary about this lady she is on fire she brought the heat going to pick her brain and tell you guys how within nine months she accumulated and 90 properties 90 cash flowing properties, how she goes about using her fix and flip money to build his portfolio and more specifically how she goes about raising her capital very unique and how she does it and now she's able to raise massive amounts of money to do her fix and flips you're going to enjoy this episode.
She has a bowl of firelighter information this year her goal is $20 million of cash flowing properties hurdle partner gonna require and from talking to her and seeing the fire and passion in her eyes he's 100% Definitely going to meet and or exceed those goals. Enjoy the episode guys. Welcome to unstoppable real estate investing wealth. My name is Billy Aveiro, aka the unstoppable VA former billion-dollar mortgage banker gone bankrupt turn professional real estate investor, where each week you'll learn the tools, strategies, systems, and secrets myself and other highly successful real estate investing entrepreneurs use to start, grow and scale their businesses creating massive profits and how you can too, and we'll teach you how to put those profits to work. So you no longer have to get ready to finally experience financial freedom and generational wealth. Now let's get started. What is going on everybody? Welcome back to another episode of unstoppable Rei.
Well, I'm your host, Billy Alvaro. I'm here to bring it again today with another episode. Today I'm going to be interviewing Chandra, I got your name right, Lacy from Washington. Now listen, I like having guests on. I like picking your brains to figure out how you guys and ladies got to where you are. What I'm curious about is I'm looking at your overview here and your bio, and you picked up 90 doors in 90 days of sorting out real estate. Like I want to get into that. But let's first hear a little background on you and how you got into this business. And then I'm curious I want to listen to know how did you ramp up that quick?
Chandra 02:14
Okay, 90 days and nine months I will I want to 90 units in nine months. I want to clarify. Yeah, 90 days. I wish I'm almost 90 days now though. I feel like 90 units.
Chandra 02:30
I wish on next year will be at 90 units in 90 days. That should be the goal. So but yeah, man, thanks so much for having me on. I love this podcast. Cash flow is king is almost what I get takeaway every time I listened to it. So cash flow, cash flow, cash flow, and actually made some changes to my business this spring just based on two of your podcasts. So I really am excited to have the opportunity. I'm excited to be here. And I love talking about my story. So thank you so much.
Billy 03:00
Absolutely. So let's get into your story. You live in the beautiful state of Washington State in Seattle.
Chandra 03:05
Which is the real estate market across the nation is taking off. But the secret is Seattle, we have had this intense market shift that has just changed and we have had these double-digit equity growth increases. So about Seattle, the Seattle market is absolutely bananas here.
Billy 03:26
Yeah, it's bananas actually all over the freaking country. Right? Yeah. But who knows what's gonna happen with these rates? The rates are going up, it might start to stabilize a little bit. What do you think about the rating piece? Do you think it's gonna stabilize? Do you think it's still gonna crawl?
Chandra 03:38
I definitely think it's going to crawl up a little bit. I don't see how we can't a little bit more. But I do think that for some of our equity growth, I would actually on a personal level like to see our equity growth level out a little bit over this last year in the Seattle market since 2015. I know we're deep-diving into this. But the Seattle market since 2015, has just had almost if you look at our out of our equity growth, we're almost at like a 45% equity growth over the last six years. I mean, it's just been, there's been so much wealth accumulated through real estate here in the Seattle market, that for us, I think we need a natural plateau even for about two years. So I'm okay with this rate, leveling a little bit of rate increase. I know my flipper mindset, my flipper background is really challenged with that when I go to sell because I gotta look at that little margin of rate increasing where my buyers Ratan that but I'm okay with that level for a little bit. I do feel like we need to stabilize the economy and our astronomical Real Estate Wealth that we are accumulating as a country so it's great but we also need a balance is key, I think to economics.
Billy 04:48
Good insight right there. So tell me your backstory. How in the hell did you get into real estate?
Chandra 04:53
Man, I've got a crazy backstory. So I was in a very I was living in Texas and I was married for almost 12 years, and I was in a domestic violence situation and an abusive marriage. And I like to say that I'm a domestic violence survivor. One in three women are in relationships that have domestic violence and one in four men are as well. So as we're kind of seeing a headline in the news right now. And so I like to just say that so I when I got away from that situation, I was living in Texas, and I got away from that situation, I had two children actually just had my son, a baby and got away from that situation. I moved in with my parents. So three of us were living in this small little two-bedroom house with an office that we converted to a bedroom for the kids. We crammed in there, and I thought, hey, what better time to start getting my real estate license. But I had always kind of had this inkling for real estate, I had read the books, you know, read Rich Man, you know, read all the books. They and had just kind of this, I loved autobiographies about people and how they achieved great things and greatness, and so kind of always had this inkling for it. And I got my real estate license. And I learned very, very quickly that this is a real estate, traditional real estate is a customer service driven business.
Billy 06:16
Cutthroat when you started kind of as a customer.
Chandra 06:21
Yeah, it is, but it is customer service-based. And I used to work back in the day used to work for Nike, one of the best jobs I ever had, well, the best corporate jobs I've ever had. And I was managing one of those massive Nike town stores. And we were making $80 million a year I had over 100 employees. And I was managing this and I learned very quickly that I am in customer service. And then I am selling the product. And that guy Phil Knight that created Nike, he's the one making the money. So I learned that if I want to do real estate, I want to be in charge of the product. Product is key, I wanted to be the Phil Knight of real estate, but I won't be putting products on the market. And so I came up with this business plan. So I kind of been doing this customer service real estate and I came up with this business plan, I say the product is key. So I wrote it down on my little piece of paper and I wrote one side of it. I said flipping properties. And then I wrote on the other side rental spine holds. And then I wrote this little bridge in between using other people's money. And that was my business plan. I kept it super simple. I drew a map because that's my visual learner side came out, I just drew this map and I said, Okay, I need to how do I get this cash flow? This cash flow is king through rental property income-producing properties. How do I get the money to buy that I need to flip houses, I need to put a product in the market that I can control that I can be in control of, hey, how do I get the money to buy that product? Well, I'm going to use other people's money. So I just started diving into that. And my first how I first did my first flip is I partnered I had about $10,000 And I just like saved all the money I had like imagine raising two kids on your own living with your parents and this little two-bedroom house and I saved all the money had got $10,000 together brought in a key strategic partner with their percentage of the down payment, use those hard money loans and just dove in. And I say I went to flipping college man I learned real quick about how to flip properties I learned real quick and I was able to come away from that, unfortunately, is like my first flip was one of those properties where I did not make money, but I didn't make money. And I began to learn instead of paying $100,000 to go to college, I basically got to go to college for free. So I got a little scholarship on my own there flipping College,
Billy 08:39
Talking about how you set up that first JV partnership was it a 5050 JV Did you find the deal do all the work was that partner just a money partner just explain what that was?
Chandra 08:49
For the first one, I had no idea what I was doing. This was back in about 15 When podcasts weren't really around, I didn't really know I hadn't really seen it I just knew I needed money. So I didn't know what I was doing. So we all went and got it was like there's about four of us rather's and you know just kind of had another little silent partner. And we just all got on the title. We all got the hard money loan, so there were just massive amounts of people signing massive amounts of people. Yeah, so I wouldn't recommend it. But now I've learned how to strategize my deals. And I'll definitely go into that a little bit. But that first flip just really showed me something. I also was working kind of like a side hustle but a learning gig. I was working auctions and I was down at the auction blocks buying properties at the auction blocks with this real estate investment firm I was with and we would go and I would be driving about 40 properties a week, comping those properties and then going and pitching and selling those to investors who would then help us to buy those properties at auction. And so I was doing that. So 40 properties a week we're driving over 100 properties a month, and I would have my little son in the back seat driving all these distressed properties with me, you know, doing all this stuff with me. And that's where I really learned the intricacies of comping properties, knowing neighborhoods, talking to investors, finding investors, and pitching, right. So I learned all of that through just the grind of day-to-day today. And I started doing that. And then from there, we took off, I met my business partner, and we partnered on one deal because I knew I was flipping houses because again, that was my business plan a way to control income. And I'd flip houses with a business partner, a partner, 5050 partners, we both brought 50% of the money to the table, we were doing this through an LLC or anything, we were just doing it, if I had an LLC, it would be my LLC. And then we'd business partner together, do a flip, sell that flip. And I did about four of those with different partners. And this one business partner, we just had a ton of synergy. And we just took off from their Daniels’ name. And we just said, what if, and from there, my business partner and I took off that business. And we started flipping four houses at a time 10 houses at a time. And now we're now our average, we've had about 30 active properties, whether it's 10 flipping, and we're building 20 properties, or 20, new builds, or we are flipping 20 houses, we kind of always have about an active 30 units in somewhere in the phases of flipping, renovating or building that we go through. And so that's how we were able to scale so quickly. So then what we do is we take that flip income, we do not pay ourselves on that flip income, we take that flip income, and we roll it straight to income-producing properties. So we'll buy Airbnbs, we'll buy mobile home parks, we will buy apartment complexes, we have a really great property that's multi-use, it has over 65 storage units on it warehouses, vacant land and mobile over 30 mobile homes on that property. So we'll go buy anything. So let's buy like say like to buy income-producing properties. I don't limit it because it could be the best income-producing Airbnb have which actually, even though my numbers are low on it, my highest percentage income-producing property is a professional rental. So that's kind of how we scaled from zero to 90 units.
Billy 12:19
Real quick, gave a lot of information, I want to do a rewind that I want to I want to start asking you how do you on the single-family side? What's your process to find inventory? Is it on market or off the market? MLS postcards? Like how do you and your business partner go out to find that and then the follow-up question is going to be the same thing on the commercial side.
Chandra 12:39
So there was definitely a shift in the market. So auctions when we start seeing the equity growth blow up here and Seattle auction started to dissipate in about 2018. And so there became this whole wholesale market because now we have homeowners, even if they're distressed, they have all of this equity in their property, right. And so we saw the auction market dissipate, which was even more why I was diving in and gearing up for flips. And so what I started to do is I had this great network of investors, and I started to push that out into building a network of wholesalers. So wholesalers are people that they're actually phenomenal at it because they're out there finding those distressed buyers. They're off-market properties most of the time and they generally have a whole business. So I have a list of about 100 wholesalers that I work with and about 50 across the nation that I work. And I just started building that network, build it out. And fortunately for me, at the end of 2018, I kind of already was growing a network of wholesalers because I needed more products. And so it was a natural transition to work with these wholesalers. And the question that we asked ourselves, I started asking myself back last year was do we start a wholesale company? Because there is it one it's phenomenal business but two, I need deals to fund the machine the flipping machine, you know, and so we started asking ourselves a question, but as you guys have had tons of guests that have a great wholesale business, it is a business you have to put Yeah, you have to put funding behind it. So for me, I found the easiest way to scale my business quickly was to find people that are doing it and doing it great. I work with wholesalers that are national that sell in Seattle, but we buy with them now in other markets and so I work with so I want to work with the best wholesalers so when that write the best contracts, and I'm okay with paying them there in Seattle, it's not abnormal to pay 50 to $100,000 assignment fees, which is like a backside of a commission instead of a seller paying a commission it's you as a buyer paying that assignment or that commission to that wholesaler. And we have no problem doing that. And that is strategically like if I'm working with a new wholesaler or finding a new network of wholesalers. We ask about 10 different questions. We almost facilitate the deal because it's such a business you have to know the intricacies and the ins and outs So I would recommend if you're new in this, that you seek very, very, wholesalers that know the business, seek big-time wholesalers. And don't be afraid to pay that big assignment fee. It's okay, as long as the numbers work
Billy 15:13
As long as the numbers work. And it's key that you say that because like, look, a lot of people out there, they say they don't care what a wholesaler makes until they see what the wholesaler was making. But it really doesn't matter what the fee is, as long as the numbers work for you. And your investment portfolio, right? I mean, if the numbers work, the numbers work.
Chandra 15:28
The numbers work, and that my so I keep my it's almost like I see him as like, almost as a business partner, my wholesalers, I keep them happy. I do not care what your whole set was your assignment fee, I will tell you if I can't buy it because the numbers are tight. I'll tell you that. I don't care what you're making on it. And if we have to rework it that we will, but I have gladly paid $100,000 $120,000 assignment fees. In fact, I pay him on my mobile home parks, almost every single one has been over $100,000 assignment fees on those, but they have brought me the best cash-flowing deals around so no problem.
Billy 16:01
Yeah, I just paid a $100,000 wholesale fee to a guy in Ohio 36 unit, you know, apartment building, and I'm like, I don't care what you make and the numbers for me to $72,000 a year cash flow piece. I mean, yeah. How are you going about it? So you using wholesalers to find your commercial cash flow properties, your mobile home parks, your storage, that's all wholesale as well,
Chandra 16:23
All wholesale as well. I just build that network and ask. I think some really key piece for finding good wholesalers or good deals is Facebook. I know it's a little old school, I think promotion, right? You want to be on the promotion of Instagram and Tik Tok and all those promotional avenues for yourself as a company. But I think finding good communities now, especially with COVID is those Facebook groups. The moms have been a part of these Facebook groups since day one, you know. And so why not real estate in Seattle, we have a very healthy social network. Online, we have several different Facebook groups that are very active. So we find a lot of deals through Facebook, ironically enough, but it's built my wholesale network. So now I'm on like national sites, I go to areas. So for instance, we are looking in Arizona, we are looking in Northern California, just a couple key different markets that we're really busted into right now. And I go, I'm on Facebook, and I'm finding those groups. And then I'm also finding the mom groups. And I'm asking the mom groups, Hey, guys, I'm looking for distressed properties, who put me in touch with somebody you know, like, your kids are beautiful. Can I talk to you, because moms are the key they know, they know, they know. So I definitely utilize that resource.
Billy 17:44
Unbelievable, good stuff. And you're so you and your partner are on 5050 With everything right now you guys are doing it all together. Like it's a real business.
Chandra 17:52
It's a real Yep, real business. So, my business partner agreed to do the business model I talked about. So we buy the flips, has 50 partners. And then we take that income, we agreed to take that income and buy our investment properties or cash flow properties as a 5050 partnership. And so we own those through our company 50, he saw writing, so we buy it in this company's name. And then most of the time, we can 1031 tax exchange some of those, so we're utilizing those tools. And then that's a lot how we're offsetting some income is by paying wholesale a fee off the income of our flips. So we'll write an invoice, paying that whole seller off of our net proceeds and things like that. So different little strategies on that. But we are 5050 business partners in buying and acquiring properties. And then we come together, pay our employees all that with our income from our cash flow properties.
Billy 18:45
Tell me about the business, how it's structured, how many employees you guys have,
Chandra 18:49
We have two on payroll one is a part well, and we have several property managers on site property managers that we pay. And then we have one that oversees those on-site property managers. And she actually lives in New Mexico of all places. So she's virtual. And so we work with her. And then we actually just brought on Director of Operations and we hope to one day kind of put her in that CEO role, CEO role, but she stepped in to help us through all of the kind of help manage his or her entire flip and building process. So we have those and then we have about six contracting crews that contract out business. We do question do we bring them on as employees? You know, I think the contracting role works really well for us. But that is something we are kind of looking at is seeing whether we're going to bring on in-house contractors totally.
Billy 19:39
To the listeners about your capital raise, how do you go about funding your fix and flips what does that look like? Rates points, where do you get the money from? And then the same thing on the commercial side we canceling product.
Chandra 19:51
Yeah. So there are a couple of things I really like to talk about. So there is a hidden market that I found and I think is very right. So finding hidden markets for raising capital is key. And I knew that as a woman, there's only about 30% of women who are actually involved in, in investment, real estate. So there's a huge margin there, even with husbands married, wherever they might be doing as a partnership, it's still only 30%. So there's a huge margin there. So what I started doing is I started strategically going after women. And I found that that was a key market. Because in Seattle, there's we have a very high medium income here, we have a lot of tech work, we have a lot of very well educated very well pay women here in the Seattle area. So I started seeking nurses, software developers, all these women that had all this income coming in, and perhaps one place to put it and everybody loves real estate, they just don't have an avenue. So I started creating an avenue for them to get involved. I have a meetup that I do, why are women investing in real estate, and all we do is talk about how to invest in real estate. That's all we do. And it brings other women in, then I go to it, I find them, I go to software. You know, in Seattle, it's a dime a dozen here, you can go to 10 times meetups and go to talk to software developers, and I go target women, I go target them, and I found this key demographic. And then one of the things that I really highlight is that the ask sometimes people get scared to ask, they'll talk about the business, but they won't ask. And I think that's key. And I know that for a lot of women, we feel the need to validate, we have to validate we have to have some background for it some history. And we're not necessarily out there just asking, Hey, invest without $100,000 in me, hey, invest $10,000 in Me, we're not necessarily out there asking and I was more than comfortable to ask because I feel that part of my business plan is when we ask for the people's money it is to build our community and build wealth for others. And that I am, I stand on that pillar of our businesses that I want to help other women achieve financial freedom, I want to help other investors achieve financial freedom. And so I grow that and I asked everybody, I asked nurses, I asked Amazon distributors.
Billy 22:19
How do you go about asking to teach the listeners? How do you go about asking you to meet somebody? Do you have an elevator pitch? Like what does this whole thing look like?
Chandra 22:26
You know, it's very organic for me, I think it's because my personality leads a little bit towards sales. So I am always one I asked about what they do. I want to know I want to find the internet because I truly am interested. I want to find out why they need this financial freedom. And that's when I'm diving into I want to find theirs why. So you have to be intentional, find them Why are you sick of your job? Are you worried about your retirement? What's your why find that why, and then offer the solution. But you have to have a platform, right? So offer the solution. So hey, I have a solution. Your stocks have tanked, I have a platform for you. Here's what my platform looks like. And what I found, the easiest way to do this is honor flipping or building projects, we just do a joint venture agreement, we had a lawyer write one up, it's very, very simple, we keep it very simple. And we fill out there that address of the property, they're investing in the company because sometimes we'll buy these properties in different LLCs that me and my business partner own. And we'll split out we'll say the terms and for our investors on flips, we gave amazing returns, we give 13% return on their cash investment. And we give a four to the six-month window on that. And they don't give money to me, they put money into escrow and are buying the property through escrow with me through that joint venture.
Billy 23:50
So that's a good point that I want your listeners to understand. So you're paying them I'm gonna use round numbers $100,000 investment that they put in, you're guaranteeing them should use the word guarantee but you're giving them a return of 30% on that investment. So that's $13,000 but that $13,000 is going to come back to them over a four to six-month period. So in essence they do this twice a year they're really making 26 plus percent annualized on their money.
Chandra 24:16
Yeah, it's incredible and they'll, or if we can we try to get them in three times a year. So are we really trying to hope we can get them a 30% Return annually on their cash investment? And it has been a game-changer for people signing up for that. I mean, it is like I said it is better than the stock market and the stock market was blowing up and some people are kind of wary now that it's you know, it's just all over the place. People invest with us they pull from their 401k because we're able to get them and their investment is secure against the property. You're not investing in me and accompanying while you are in a sense, but you're investing in that property and is held against that joint venture on that property. So we keep it really simple, but we give great returns. Because again, it's just if I help my community if I help other people build wealth, that is reciprocal, that is going to come back at you. And it has. And it's been amazing to see what we've been able to do and other people's lives through this as well.
Billy 25:17
I love the model to talk about skepticism, a lot of people when you're trying to raise money from them, especially with the returns of 30% a year, I mean, substantially higher than what they're normally used to receiving a CD, or money market mutual fund. How do you, first of all, be skeptical when you tell them the returns they can get? And if they are? How do you overcome that objection?
Chandra 25:38
There are two types of people that invest with us. So there is Rob to school, getting the wave off school. There are two types of people who invest in us one, there's the referral investor, which we love, right? So we started out with about five different passive investors. And they have since seen the return, they've seen the model, and now they're spread their friends, their parents, other people now are becoming passive. So the word of mouth spread, and it spread like fire when they started seeing their returns. And then we have our other one where we have to prove the concept, right? So our proof concept, and I will say that referral market, I just want to backtrack a little bit that referral market is amazing. You know, like in traditional real estate, your referral market is key. We love it, we nurture those referrals because it is, you know, it's amazing, but our passive, like you just know me, so one of my favorite stories about Mike, he was listening to a podcast I was on and talking about these returns and, and talking about this, and he lives in Wisconsin, you know, home with the Packers, and the great guy calls me or hits me up on Instagram, because I love social media, I'm on it all the time, hits me up on Instagram, hey, chat, or listening to this podcast, you know, just wanted to shoot and I was like, let's set up a meeting, call them had to prove the concept. Right. So how I prove the concept overcome the objection is one, we have an email set up with several of our properties that we have flipped. So this email is just and we say it is in writing real estate is in writing, there's no denying that this company bought this property, it's on public record. And this company sold this property and it's on public record, right. So we say that it's all public record. So then we send this email, it has about 10 of 10 Awesome flips that we've done in the last six months, we keep it very relative to the right. And so it shows them this and then, and then it has a little bit of a bio, and our website has that as well. It's a really cool website with what we're doing. And so we've created this platform, and we've taken we're allowing them to see. And then I think another key piece that I think is a little bit challenging for investor owners is the social media aspect. It is such a key thing for your average person out there. They are seeing what everybody's doing every single day and what's being put out there. So I make sure that I keep my social media up today I walk my properties, here's what we're doing on the construction site, here's a funny little reel, here's what we're needing, here's what we closed on. And it's all right there on social media out there for everybody to see the properties we're doing. And so that eliminates a lot of those objections. And then we also allow any new investors to take our contract to their lawyers and review it, if they want to do some other terms, we say, Hey, we're open to not terms and fire of returns, but how you want to structure your contracts. But then we allow them to use their lawyers or however they deem that we let them go source that because we have our platform. So we're open, we're flexible. But we have structure and platform, which I think is key is key.
Billy 28:52
And you know who your avatar is, which is key as well. This is good, good, really good information. I know the listeners are going to enjoy this. Are you doing the same thing with your cash-flowing assets, the ones that you're going into mobile, home parks, and apartment buildings?
Chandra 29:05
So a little selfish on those. We have the conversation almost weekly about what that's going to look like because we are able to buy so much of our own cash flow investment properties that do we need to bring in strategic partners? And then we asked her to look at what opportunities are you missing out on by not bringing in key strategic partners. So to me though, it is a long-term business relationship, you're getting in with somebody and so you need to make sure that you are everybody's comfortable with the terms. So the only long-term investor we brought in was somebody who's invested with us for about a year, they were comfortable with their flip returns and they just wanted to park some money. So we had them come in and we just did our JV agreement on that property. They're not holding titles. They're not on the title and they were comfortable with that getting. They're getting an 8% Return on net profits. which is a great return still. Yeah, it's a great return. Will we do that for every new investor? We're still structuring that a little bit, but I don't want to miss that opportunity either.
Billy 30:09
Are they able to with that type of investment portfolio? Were they able to get the tax advantages as well?
Chandra 30:15
No, because they're not sitting on the title. They're not sitting on anything. So yeah. And so that's,
Billy 30:21
yeah, one of those people who want to see the tax advantage and what the cash flow than what the tax advantage so I but I mean, look, you'll have those investors that they just want the cash flow, right? Yeah.
Chandra 30:28
Your avatars? Yeah, and we're scaling that business right now. Because we have our hands in Airbnb, we have our hands in mobile, home parks, we have our hands in apartments. And for us to scale that business first step back is we had to hire the right people. So we have the right people in place. We have an overseer property manager that we have somebody who's directing our flip business and building business, which is huge. And so we have these right people. So now we're looking at that and saying, how do we give these same types of community wealth-building opportunities in our long-term investment side? It is a question we literally discuss every single week. So it will be coming soon, though.
Billy 31:10
Love this. Absolutely. Love it. Talk to me about knowing your market, understanding the local demand, like how do you go about because everybody, they analyze a little bit the same, but some people do it a little bit different. Talk to us about how you go about analyzing your local market.
Chandra 31:24
So we really liked the local market. I feel like I just eat breathe and sleep it. It's been where I have been diving into these new markets that have really opened up my eyes to wow, this I you know, it is a new learning experience for me.
Billy 31:43
So what are you doing? As you said earlier, you're going into a lot of these new virtual markets now. Yeah, how you go about analyzing.
Chandra 31:49
So there's a couple again, I go off my network, and there are a couple of really key people that I have really I use their brain I'll do a shout-out to Jennifer Beatles. She's got this incredible she is a national, she brings she's not wholesaler, she's she works with investors and helps them go into different markets through the area through the network. She's kind of created. And she's got this incredible brain. So what I use is I use other people's insights and find this key strategic partner. So go find those key strategic partners, even in other markets. So that's step one, right? That kind of opens your door, where are they looking at? Where are they investing? Right? Did we miss the do we miss the mark on OKC? You know, Oklahoma City, you know, where are we going next? You know, so I like to have those key people. The second thing I do is I've already alluded to it, but those Facebook groups are key, right? Like those little mom pages, those different things. Hey, guys, where do you guys want to go on vacation, you know, and now I'm searching in, you know, South Carolina and all those lakes a great lake property of where they want to go on vacation with their kids. And so now I'm seeing kind of that and they love talking about it, right? Like, where are you going on vacation? How much do you kind of spend when you're looking for that I really want to buy an Airbnb that your family can go to? And then you get like 10,000 hits. So that's a really inside way to get it Another thing is to find those investor-friendly real estate agents, I love using my network to find those investor-friendly real estate agents, I have no problem buying on-market deals, they're a little bit more vetted than your off-market. It's some subsidies, but it was great don't be afraid of buying on the market if the numbers work, right. And a lot of times those investment-minded real estate brokers, especially on the commercial side, like I'm sure you experience your 36 units out of state, you know, it's they have insight and knowledge and we will spend about an hour just talking about an economy. What is it? Where's everyone working? Then we go and I'm mapping it as they're talking, oh, they work here. It's 10 miles from my property buying, okay, what did they like to do in that economy? How close am I to those things, and I love buying around medical centers, medical hospitals, and medical fields, I feel like we will always have renters or those properties will always be professionally rented or Airbnb out by medical centers. Even if I'm in a remote area, if there's a hospital, I know that we will rent out those units if I'm within a five-mile radius of the hospital. So those are some of the key little tricks I use to find and go into different markets. And then I have this little debate with one of my really good real estate friends Zestimate man, I'm a big advocate of the Zillow Zestimate.
Billy 34:33
I know about a year so it does work in certain areas, the New York-New Jersey area it's always off and you know, I've trained my guys in the office when a seller comes up with his estimate my house is worth 602 Just we have a whole rebuttal system to go through and show them that it's really not worth what they think it's worth. But uh, you're finding in certain areas, it's more accurate.
Chandra 34:57
Yeah, and it's not I don't need it to be accurate because on the investment side, I just need an opinion almost. And that's how I see it as a virtual data collecting opinion for me. And so if I'm getting a wholesaler, I love kind of the little belt in the Midwest, you know, it's just I haven't bought there yet, but I just keep my Onyx I get a lot of properties from there. And so I go Zestimate it and I'm seeing okay, it might getting, you know, in my head about it, and my buying it about 30% below the Zestimate. And if it is, then I'm really going to look at it. So it's my, it's me, almost my default filter, which I know sounds crazy, but it is, and then I do it immediately on rentals, you can go to the rental, Zillow Rental, and I just go there immediately. And if I'm sold a deal that like, oh, they could potentially get $1,500 A month here, you know, and, and I'm looking at investment, I don't see you know, anything even remotely close in that area, it's just way off. So it's almost like my first filter on the investment side is an estimate, which I know is so against the grain. But another traditional real estate, I get it I had to overcome with my first year too. But on the investment side, it's just my little filter. I just like to use it real quick. And because I'm out and about a lot, so I'll just boot and then if a deal looks good. Call that agent or call that wholesaler and start the conversation.
Billy 36:14
Love it. What are the next few chatters, what are you looking to do next?
Chandra 36:18
Man, I'm so excited about the future. So we are working on two chicks that flipped one of my first partners she is she we partnered up and flipped me this incredible deal together. And now she does her own flipping and I have my flipping business. And we're coming together. And we're making this really awesome content for how-to flipbooks. There'll be virtual content available in about three months. So I'm really excited about that two female perspectives on this whole crazy industry and how we do it. And she has a whole different system than I do. She's kind of more of you're like three flips a year, you know, type person, I'm like, Let's do 50 flips a year, you know. And then so that's really exciting. And then on our PA I love talking about my goals, but they definitely make me sweat a little bit. We are definitely looking to acquire over $20 million worth of real estate this year on the hold side. And so you work those numbers backward. How many houses do or houses do I need to flip or build in order to buy that much investment property with just my partner and me is a very, very big number, but we are hitting our goals, fortunately. And so we'll see how the back half of the year turns out.
Billy 37:31
I love it. Well, congrats on everything. You're a bullfighter, a great personality, doing some great business. You had some really good information. I know the listeners are gonna love especially the whole how you raise your capital. I mean, he has some really good nuggets in that.
Chandra 37:45
Yeah, yeah. Well, I would love to have anybody reach out to me if they can find me at Chandra Lacy real estate. So Chandra Lacy Real Estate on Instagram. I'm all over Facebook Chandra Lacy, just super easy. My name. I answer all questions. Answer all emails and DMS messages. So look me up on social media. I'd love to connect with all of you,
Billy 38:08
Chandra, it's been real. You've been a pleasure to interview well getting to know you. Stay tuned. I'm going to end this and we'll talk afterward.
Chandra 38:14
Awesome. Thanks, guys. Take care.
Billy 38:18
Thank you so much for listening to today's episode of Unstoppable Real Estate Investing Wealth. My mission is to give you my listeners the blueprint for success, the insider secrets for starting, growing, and scaling your real estate investing business so you can experience and live the unstoppable lifestyle. I've made it simple for you to catapult yourself to success. Go to billysecrets.com, and B I L L Ysecrets.com. There you will find every single tool, tip, trick strategy system, and secretly used to make millions of dollars as a real estate person. Everything my TV uses, and my guest use all in one place for you to tap into to get started, grow and scale your real estate investment business. I really hope you implement what you're learning. I hope you utilize these tools, tips, tricks, strategies, and secrets. And I hope to see you in the next episode. God bless bye bye.