Tell us about one of your clients’ craziest property purchases are there many crazy property purchases?
It's just that due to client confidentiality, I can't talk about every one of them.
But I've seen it all. I've seen fire sales. I've seen houses burnt down. I've seen ex-met labs that nobody wants to buy again. And I think it comes down to the reason we buy these crazy purchases is because it's not what everybody else is looking for.
Majority, I'd say 99 % of the population wants solution properties. Solution Properties is just the perfect property that just looks great. But where you make the property is when you buy a problematic property. When you buy a problematic property, you convert that into a solution and then you've made your money. I bought a burnt-down house for $75,000 probably 10 years ago. Just $75,000 is probably worth $500,000.
Now, the point is you wanna be looking where everyone else is not looking and you'll get ahead.