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  • (Audio) 763 » How To Make $25K On Deals That Wholesalers Pass On » Shaneka Shipman

Today’s guest is Shaneka Shipman and we’re talking about a hybrid deal involving a lease option and a subject-to that she did very early in her investing career.

The show is brought to you by my book, Wholesaling Lease Options. It’s a great book that takes only a few hours to read and contains lots of helpful info.

Shaneka is a full-time mother and wife, and a full-time investor living in North Carolina. In reality, she only has 3 hours a day to give her business. Her husband also works full-time but hopes to quit soon.

This deal came from Shaneka’s first round of bandit signs. She got the deal by 1) answering the phone, 2) meeting seller on time and 3) following up with seller the day after she met him.

She sent the deal to her escrow attorney and found out the property had liens on it. At this point, Shaneka is just getting started and learning new strategies. She’s a little thrown by the situation.

There were 3 liens, 2 of which were for credit card debt and one for the mortgage. The liens totaled $67,000. The home's ARV was $89,000 and she bought it for $28,000.

In fact, the mortgage had been paid, so that lien was cleared up with the bank’s cooperation. Shaneka bought the house subject to the remaining liens ($17,000) being cleared and began marketing it.

The contract was written so that the amount of the lien after the lease option period ended would be deducted from the $28,000 purchase price. The seller had 3 years to pay down the debt.

She marketed the house on Facebook Marketplace. It was listed simply as a house for sale. The tenant buyers didn’t care how they bought the house; they just wanted the house.

Shaneka sold the house as-is. The tenant buyers agreed to clean up the house, which was full of the seller’s belongings. Shaneka gave the tenant buyers a deal because of that.

This deal was a win-win-win. The tenant buyer, the seller, and Shaneka all got what they needed and they all got good deals. The seller walked away with no work involved, which is not easy to arrange.

Shaneka found her ‘creative deal’ attorney at the local REIA. The ‘straight wholesale’ attorney she found in a Facebook wholesale group. Both of these are great resources.

Listen and Learn:

What’s inside:

  • Numerous ways to find real estate attorneys… Facebook groups, local REIA or Bigger Pockets. 
  • Shaneka found a way to create a win for herself, for the tenant buyers and the seller.
  • Joe and Shaneka answer LOTS of questions from viewers; Joe says “I’ve never gotten so many.”
  • Shaneka’s deal inspires… the tactics were a little ‘above her paygrade’ at the time, but she persisted.   

Mentioned in this episode:

Transcription:

Download episode transcript in PDF format here…

Joe: Welcome. This is The Real Estate Investing Mastery podcast.

Joe: Hey, what's up everybody? Joe McCall here with Wholesaling Lease Options and The Real Estate Investing Mastery podcast. And I got a special guest on today's podcast Shaneka Lenay and Shaneka was on one of my live broadcasts a couple months ago. Shaneka, is that right?

Shaneka: That's right, yeah.

Joe: And she was telling me about this really cool deal she did that was a hybrid of a lease option and a subject two I believe.

Shaneka: That's right.

Joe: And so I said let's talk about that deal because it was really cool and Shaneka, are you a realtor, Shaneka?

Shaneka: I am not.

Joe: Okay, nevermind. Sorry. Because I saw your email address and I misunderstood. But here's the cool thing guys. I want to just make a couple of announcements here real quick, okay. I also wanted to tell you my, this podcast is brought to you by my book Wholesaling Lease Options.

Joe: You can get this book for free at WLOBook.com WLOBook.com. It's a free book that I wrote on how to flip lease options. And it's one of the easiest ways to get started in real estate today. And this book, it's really good solid information and it's no fluff. You can look at the words even and it's like, I worked so hard on this book Shaneka I spent like months on it and I was all excited about it and I got it printed and I got it delivered and it's only like a quarter of an inch thick, I was so bummed. But though you can read it, you can read it in three or four hours and it's, but it is solid full of information. Go to WLOBook.com. Get it for free and just pay shipping and handling to get it to you, okay. So let's get on the show. Shaneka, I hope I'm pronouncing your name right.

Shaneka: You are.

Joe: So how are you?

Shaneka: I'm wonderful. How are you this morning?

Joe: Nice. Where do you live?

Shaneka: I'm in North Carolina.

Joe: North Carolina. Cool. And you were on watching one of my previous coaching calls or Facebook lives or something like that. And you were talking about this really cool deal that you did. How much did you make on this deal?

Shaneka: $25,000.

Joe: $25,000. All right, so I asked you, I said, hey, can I get you on the podcast? Can we talk about it? Thanks for reminding me, by the way, I asked you to send me an email and you did. I really appreciate it. So talk about this deal. Well, first actually talk a little bit about yourself. What do you do right now? Do you do real estate full time? Do you have a job?

Shaneka: Yes, I'm full time. I'm a full time mom first full time mom and wife actually I should say.

Joe: Good for you, which is harder by the way, being a wife or being a mother?

Shaneka: A wife.

Joe: Come on, come on. That's not true.

Shaneka: It is.

Joe: All right. Anyway, sorry.

Shaneka: But yeah, so I do, I say I do it full time, but really I only have about two, maybe three hours a day to dedicate to my wholesale and business. So with being a full time mom and wife, I have five children, so…

Joe: Oh, good for you. Congratulations. That's awesome.

Shaneka: Yeah. But I stay home…

Joe: And it's harder to be a wife than a mother of five kids.

Shaneka: Yeah. And how it's harder to be a wife than a mother of five children and wholesaling full time.

Joe: You're funny. Okay. So you're busy.

Shaneka: Very extremely. Yes.

Joe: You're very busy. All right. So you just do real estate on the side. Is that like your, your main source of income?

Shaneka: For me it, I mean, my husband still works full time. Hopefully we'll be firing his boss this year. That's the goal. But yes, this is what I do full time.

Joe: By the way. I can't get off of this. What would your husband say is harder being a dad or being a husband?

Shaneka: My husband.

Joe: No.

Shaneka: Yeah he would. Marriage is hard work.

Joe: It is. But so is being a parent and God bless you for having five kids and keeping your head on straight. Okay so what kind of marketing do you do for your deals?

Shaneka: Okay, so my first deal and this one that, that we're going to talk about came from bandit signs. I haven't done those consistently. Right now I'm more so focused on driving for dollars leads.

Joe: Okay, good.

Shaneka: And cold calling.

Joe: Driving for dollars and then cold calling the driving for dollars. Nice. So what kind of, are you using an app for that or?

Shaneka: I do, I use Deal Machine app.

Joe: Oh cool. Yeah. Do you send the postcard or do you just cold call?

Shaneka: Both. So if I can't get a hit with the cold call I'll send a postcard.

Joe: Okay. Good.

Shaneka: But I cold call first.

Joe: I've heard I've never done driving for dollars. I've hired other people to do it for me. But you do it yourself then?

Shaneka: I do it myself. I also have a team of deal finders. I have about 190 deal finders on my team right now.

Joe: Good for you. Wow.

Shaneka: Yeah. And I'll be adding on some more later this week and I'm partnering with someone that will really ready to crank it up.

Joe: Nice. So the driving for dollars when you do it yourself, how do you figure out where to go and what neighborhoods to drive and how do you keep track of all that?

Shaneka: There's actually, there's an app. It's on my phone so I can't see it right now because I'm using my phone. Yeah.

Joe: Well the, the app for doing the driving for dollars, it's called Deal Machine. Right?

Shaneka: Deal Machine app. Yeah. And I believe you can type it in there too, but I use the external app because they just updated Deal Machine app and I haven't got it fully down yet, the new upgrades. So I still use the other app for it.

Joe: Good. So Deal Machine, will they do the skip tracing for you to give you the owner's name and the phone number?

Shaneka: Yes, they will.

Joe: Nice. Okay. And then you can mail them a postcard right from the app.

Shaneka: That's right. With a picture of property. So I really like that feature. I think it converts a lot better than just the typical yellow letter or some other type of postcard. So I really like the Deal Machine app.

Joe: So how many leads a week or a month do you get on average from driving for dollars?

Shaneka: Any given time that I go out, so I can spend an hour, no more than two driving for dollars and I may only go out once or twice a week and I can get no less than 6,200 leads driving for dollars.

Joe: That's amazing.

Shaneka: Yeah. And then of course I have my team of deal finders and I get about 400 leads a month with them.

Joe: Wow. That's fantastic. So the cold calling, do you do that yourself or do you hire an outsource?

Shaneka: I do the cold calling myself. Again I work in my business full time and I'm actually about to outsource some of these things. So shout out to Antwan Campbell because he has a VA service and he's going to be helping me to get some VA's trained up so I can start to outsource a lot of this stuff and really start to scale my business.

Joe: Antwan Campbell. So does he have a website or a business name?

Shaneka: He does. And I'll leave that in the chat too. Someone asked, I shared this on my page. So I know a lot of people who are watching from my page, they know Antwan. So if one of you guys can put it in the chat, that'd be great.

Joe: Yeah. So we're always looking for good recommendations of apps, of VA services, of marketing and stuff like that. So do you know about percentage of like how many driving for dollar leads you need to get a deal?

Shaneka: I do not. And I apologize to the audience. I was actually on a podcast last week with REI Blackbook and one of the audience members asked me about my KPI's and I, you know, I'm very upfront and honest. I don't track my KPI's just yet because I'm so like in my business, but as soon as I start outsourcing some of this stuff that I'm doing, I can start to track my KPI's. So I don't have that unfortunately. But I close on average about two deals a month.

Joe: Nice. Here's a quick piece of advice for you and everybody out there get a VA to track your KPI's for you. You know, everybody should have a marketing plan or a scorecard and a scorecard and get a VA to update that for you, you know, the VA can track how many outbound calls and use that same VA, by the way, to update your CRM for you. What CRM do you use, Shaneka?

Shaneka: REI Blackbook.

Joe: Oh cool. You know, I was just hanging out with Damon the other day.

Shaneka: Oh yeah?

Joe: Yeah. He lives here in St Louis. Good guy. Good company, I like them a lot. What is your budget for deal machine? How much do you spend about a month for that?

Shaneka: Well, the actual app, I have the, I think it's the legacy plan. Because I have the team of deal finders and all of them are signed up under my account, so whenever they input properties, I can send their postcards to on the properties that they input. So I pay $199 for that. And like I said, I only push, I only put out the postcards to the ones that I don't get a hit with as far as the phone number. So I only send out on average about 50 to 75 postcards. And that's really not enough. I should be doing more than that.

Joe: Well, you're doing two deals a month though. That's not bad.

Shaneka: Yeah. But I should, but they, they advise to send about 200 postcards a month. So I should be doing about double what I'm doing right now.

Joe: Okay. All right. So what other type of marketing are you doing?

Shaneka: So that's it.

Joe: That's it?

Shaneka: Yeah.

Joe: Come on, this is so easy. I thought it was supposed to be complicated and hard.

Shaneka: No that's it.

Joe: And you're driving for dollars and you're calling sellers. That's it.

Shaneka: Yeah.

Joe: Good for you. That's awesome. Okay, so let's talk about this deal, Shaneka? How'd you find this deal? Driving for dollars?

Shaneka: No, this one actually came from a bandit sign.

Joe: Okay, cool.

Shaneka: So yeah, this one came from a bandit sign. So, and it actually, it took a while to close the deal so I'll kind of explain the process from the start.

Joe: Please do.

Shaneka: So this came from my first round of bandit signs. I've only did two rounds of bandit signs since I started, which I started last, I got my first deal last August. I started in July last year, so coming up on a year. So I got a call on the bandit sign and I went to go visit the seller and he said that he had, you know, a couple of other people that he had reached out to, you know, everybody has, you know, he called everybody that had bandit signs and so, you know, again I took Sean Terry's training and so he says, you know, lock the deal up on the appointment when you go.

Shaneka: So that's what I was attempting to do. So he wouldn't sign my contract because he said that he had another, buyer, I'm sure it was another wholesaler coming by that same day. So I called the next day to follow up with him and he said that the other person didn't show up. So I said, okay, well, you know, since they didn't show up, you know, let's get our contracts. He goes, well, I'm going to give him a chance because he was talking, you know, because I had my contract with him, so I had my offer, he had my offer. 

Shaneka: He said the other person had offered more on the phone. I said, well, you know, they didn't show up. So are you going to go with the person who was a no call, no show or someone who's here ready to, you know, make the deal happen, you know? So long story short, he ended up signing with me, got the property contract, I sent it to my closing attorney.

Joe: By the way, I want to highlight something here what you're saying Shaneka you're doing something that your competition is not doing when, especially with bandit signs, you're actually answering the phone.

Shaneka: I answered my phone, yes.

Joe: Yeah. Oh my gosh. Or if they call you and it goes to voicemail, you call them right back, right?

Shaneka: Yes. Well my numbers come straight to my phone so when they call the bandit sign, I answer my phone.

Joe: You guys, if you get anything out of this podcast or anything that I ever teach on how to do more deals, number one, answer the phone. It's not that complicated. You know, people complicated all the time, but it's like the fundamentals 101. I was interviewing a kid who was 18 years old Shaneka and we did a podcast called it From Bags To Riches because he used to bag groceries at the grocery store and he didn't know any better. So he did bandit signs and he put his cell phone number on the bandit signs. All right. And he would answer the phones whenever they would come in and he didn't have any money for a skip tracing services.

Joe: So when he would drive for dollars, he would just go to the Google and search for that address and keep on digging and all the free sources he could find until he found somebody's phone number and would call them. And within like a think, I wish I could remember it was a few years ago, I did this podcast. It's called From Bags To Riches. You guys should look it up. He did like $50,000 thousand dollars in a very competitive Florida market just because answering his phone and he was an 18 year old kid.

Shaneka: Wow. Yeah. I tell everybody too, the same thing to answer the phone because I'm a lot and even with me with, you know, I have children, so even when a call comes in, I went outside on the porch, you know, real quick to take the phone call. So my children are not, you know, screaming and everything in the background. I actually run outside on the porch and take the call.

Joe: Yeah. That's, I mean, hands down. That's the most important part of this because you're spending all this money and resources and time on marketing. Why wouldn't you answer the phone? It's like people are afraid of it. They think it's a cactus or something like that. But you make your money on the phone. I just wanted to emphasize that because you, it sounds to me like you have understood that and you figured it out and that's why you're able to do an average of two deals a month with just a limited amount of marketing you're doing with driving for dollars.

Shaneka: That's right.

Joe: Okay, cool. So this seller was talking to you having a hard time reaching some of the other wholesalers that they were calling. And so tell me about a little bit more about the situation. What was wrong with the house?

Shaneka: So what ended up happening? What ended up happening after I got title back in the property had liens on it, so I was intending on just, you know, making it a typical wholesale deal. So it came back and it had liens on it. And to be honest, at first I kind of let it go once it came back that when it had liens on it, because I didn't know any other strategies at the time. I was still in the learning process because like I said, I started in July, I got my first deal in August and this call came in around the 1st of September. So I'm still in the learning process. So while I'm still learning, I come across your course, you know, lease options. And I'm also studying a different strategy. So I come across your course as well as another strategy that Sean Terry teaches about subject two.

Joe: Yeah. It's called Down Payment Arbitrage, right?

Shaneka: Yeah. So I'm studying, you know, still trying to learn additional, you know, closing strategies. And so in the meantime, I'm still talking to the seller and I'm letting them know, you know, it has liens. I don't know exactly what to do at the time, you know, as when I'm initially talking to them. And then also a major breakthrough is I attend one of my local REIA's. So I attend one of my local REIA's and one of the baddest attorneys in our city is there.

Shaneka: And I go and I, you know, pull him to the side after the talk is over and I'm talking to him about this deal and you know, he's talking me through and giving me some advice and some pointers and things like that. So I take what he's saying and I take what I'm learning in these two courses, your course and the Down Payment Arbitrage. So what I kind of do is I figure out a way how I can merge the two together. So that's what I did. So the seller had, he had three liens on the property, one was the actual mortgage, and two of them were credit card liens, which I didn't even know you can put a lien on the property for credit card.

Joe: By the way, let me give you a tip to you all out there, on some county websites you can go in and see when in the court records when judgments or liens are filed on people. And I forget which county it was. I was doing this with a coaching client and we were going into their county courthouse records and we were finding judgments that were filed against people for credit cards from Target credit card from Sears or whatever for $500 bucks, $1,000 bucks. So do you think there might be some motivation and if you could go into court records in your county and find people who are getting judgments on uncollected credit cards, even utility bills, you can send them letters, skip trace them, call them see if they want to sell their house. So on the court records you could see the address of where they lived as well.

Shaneka: Oh, thank you.

Joe: Good tip. Good tip. And you know also a Prop Stream. If anybody has Prop Stream, you can go check it out. PropStreamJoe.com but there's, you can go into the zip code and there's a feature to search from liens right there as well. Cool.

Shaneka: You know, I have that and I don't use it, but I will start.

Joe: It's good. You can get liens, you can get vacant houses and high equity free and clear cash buyers. It's a great place to get lists and details on properties themselves. You can see the mortgage history, the transaction history and if there's any liens on a property and stuff. So anybody go check out…

Shaneka: I guess I could use it for the comps.

Joe: Oh yeah, it's great. I'm going to give you guys the link here because I really like it. I use it a lot. And if you use my link PropStreamJoe.com they will let you download more leads per day if you use PropStreamJoe.com anyway. Okay so back to this deal, you were talking about finding a way to combine the lease option and the subject two strategy. Can you talk a little bit about the numbers again? Like what was the house worth? What were the total of the liens?

Shaneka: Yes, so the ARV on house was $89,000. I initially offered $25,000 and we ended up agreeing on $28,000 on $28,000. The house was in pretty good condition. What happened was the sellers wife had passed away and he wanted absolutely nothing to do with the property. He moved to another house that wasn't actually far away from this house. He left everything in there. He didn't want anything to pictures. He didn't want anything. And I had a hard time with this one because like I said, it was, it was, you know, pictures and, you know, just sentimental stuff. So I put all of that stuff in a box because even though he said he didn't want it, I didn't feel comfortable throwing it away. So I put it all in a box for him. I put all the pictures and stuff that I found it in the house and stuff. So yeah, the ARV was $89,000 got it for $28,000.

Joe: Cool.

Shaneka: And the liens, the mortgage lane was $50,000 and the two credit cards, I think they totaled $17,000. So in talking to him, he said that he had paid the mortgage off and that that was erroneous. So my attorney said that he needed to get a statement from the bank that stated and we can get that one off. So it took a little while, but eventually we got the statement from the bank and it was in fact paid off. So we got that lien cleared off.

Joe: Oh, cool.

Shaneka: Yeah.

Joe: So there was only $17,000 of liens now.

Shaneka: Yes. $17,000 thousand liens left. So I started actually marketing the property as a owner to owner finance the lease the current lease option the house, okay.

Joe: Yeah. Okay.

Shaneka: So I started marketing it that way. So what my attorney and I what we came up with, and we came up with acquiring, because it didn't have a mortgage on it. And typically when you acquire property subject two, you acquire, you're subject two the existing mortgage on the property. It didn't have a mortgage. So I acquired it subject two the existing lien on the property. And so my attorney kind of struggle with that a little bit because you know, he's like, you know, I want to make sure that I'm covering, you know, that you're covered because at end of the term with the tenant buyer, I have to be able to convey clear title so those liens have to be paid off.

Joe: Yeah.

Shaneka: So the way we actually struck, and this is, you know, please check with your attorneys in your particular area. But the way we structured it was that I acquired a subject two to the existing lien and we put a clause in the contract that if the seller, the seller's still supposed to be paying down his credit card. So if the seller hasn't paid down his credit card, we're going to deduct the $17,000 from the $28,000 that we have contracted with him. Yeah. So I won't, you know, owe him the $28,000 I'll owe him the $28,000 minus the existing lien.

Joe: Yeah. So you'd give him $11,000 instead of $28,000 if he has not paid it off by the time you actually buy it. So how long is your initial term?

Shaneka: Three years.

Joe: Three years. Good.

Shaneka: So my tenant buyer is, she is well her and her husband, they're leasing it for three years and at the end of the three year term, they will in fact on the property and I sold it to them for $49,000.

Joe: Oh, that's a good deal. What's your monthly rent on that?

Shaneka: It is, she pays 5$65.

Joe: Okay. Did she put any money down?

Shaneka: She put the $25,000 down and that was my down payment.

Joe: $25,000. And that goes into hip pocket national bank, doesn't it?

Shaneka: Yeah.

Joe: You don't have to give the seller anything of that to you?

Shaneka: Nope.

Joe: I'm sure you probably had some closing costs with the attorney, right?

Shaneka: I did. I did have closing costs and I agreed with the seller to pay those, I paid those closing costs. Typically I push that all over to my end buyer, but because she agreed to clean the house. I didn't have to pay to get it cleaned out because like I said, it was a, it was, the home was, it was 1,300 square feet up top three bedroom, one and a half bath up top, but it had a full finished basement and so it was a total of 2,600 square feet house and it was packed full, the whole house. So I'm not sure how much it would've cost me to clean that out because I've never had to do it just yet.

Joe: So you didn't clean it out?

Shaneka: No, she cleaned it out.

Joe: So you sold it as is, which is fantastic. Because that's why it was discounted $98,000 or 4. It's worth, what'd you say? $89,000 fixed up.

Shaneka: Yeah.

Joe: You sold it as is for $49,000.

Shaneka: Yeah.

Joe: And you didn't put any, you went in and took the pictures, like you took them and boxed them up and that was all the work you did inside of it.

Shaneka: That's it.

Joe: Oh, this is why I love creative real estate investing because you can buy houses with nothing down and you don't have to do…

Shaneka: Why I mentioned that is because I initially had agreed to give the seller some money down, but my attorney advise against that because he had the lien. So I got the house with no money down.

Joe: No money down. You didn't put any of your own money or even sweat equity into fixing the house up. You sold it as a lease option to a tenant buyer. So they now have three years.

Shaneka: Yep.

Joe: To buy It. Are you keeping that rent every month?

Shaneka: Yes.

Joe: Now there's taxes and insurance that you're paying, right?

Shaneka: Yes. Where the seller, she has insurance and then we have insurance, but actually no, she pays the taxes.

Joe: Okay. The seller pays the taxes?

Shaneka: Yeah.

Joe: Oh no, the tenant buyer.

Shaneka: Yeah.

Joe: Okay. The tenant buyer pays the taxes. Okay, good.

Shaneka: The tenant buyer pays the taxes. But we do have insurance.

Joe: So you're getting like $400 a month in cashflow on this thing too.

Shaneka: It's more than that because our insurance is only, it was only like $400 in some odd dollars for a year.

Joe: Oh geez. I love that. So isn't this cool? I mean, and you got somebody in there who's taking care of the home, like. It's not just a regular tenant who is going to call you every time the faucet leaks.

Shaneka: No.

Joe: It's somebody that has some pride of home ownership, they're trying to buy it. They're taking care of it.

Shaneka: They do and they are fixing it. They're fixing it up themselves and they don't call me at all.

Joe: That's amazing. That is so cool. And it's in a good area. It's' a nice part of town. Blue collar area.

Shaneka: It's not the top, you know, it's not the top of the market, no. But it's a good quiet area. She felt very, you know, safe and comfortable there. And actually she's, they're bringing in their, one of their in-laws to live in the basement part of it.

Joe: Nice. Yeah. I love how you had an attorney help you with this, right? They helped you close on that deal? You know, some people get afraid or like some people they'll go and talk to a couple of attorneys and any attorneys will tell them, no, you can't do that. That's illegal, immoral and fattening. You can't do that. But you just didn't, I don't know if you got lucky finding this one attorney, or you talked to a bunch and you didn't take no for an answer until you found one that would help you with this deal.

Shaneka: Well I have two attorneys. One of them I use for just straight wholesale deals, but this particular attorney, I use him for the creative, more creative deals because he's well versed in them. And he will help you, you know, strategize on well you can't do it this way, but you can do it this way, you know.

Joe: Nice. And how did you find those two attorneys?

Shaneka: One I found at the REIA and one with the creative deal structuring, I found him at my local REIA. So I definitely have asked everybody to go to REIA's and talk to people. Like, yeah, that's one thing about me. I'm not afraid to talk to anyone, like I will go and talk and I will ask questions and I will be in your face and because you have the answers that I need to take my business to the next level so I'm going to be in your face. So that's one thing I found him there and the other one I found it in one the wholesale groups. I just asked, you know, because that's when I first started.

Joe: Oh, that's fantastic. Like, like one of the wholesaling Facebook groups or something.

Shaneka: Yeah.

Joe: Oh, that's great idea. Like there's, I always recommend folks to go to your local REIA's, number one. Number two, there's like three or four really big wholesaling Facebook groups. Go to those. There's Wholesaling Inc, Wholesaling Houses Fulltime, Wholesaling Houses Elite, Max Maxwell's an amazing guy. And there's a lot of people in those groups and there's a few more too, that can recommend attorneys or title companies or whatever, hard money lenders, transactional funding. And so you can go to those groups and do a search in the search bar for whatever city or state that you're in. And like you could do a search for a Carolina attorney and you'll find all the posts where people ask the same question or you know, you find out the. The other site I want to recommend to folks is Bigger Pockets, Bigger Pockets is a great place to go to find recommendations for people that can help you that are from your city.

Joe: Cool. By the way, I was just playing with a website called Moon Clerk. If you are just Google it, Moon Clerk, M O O N Clerk, C L E R K and it connects with Stripe and it's really cheap but you can collect rent from your tenants using credit cards using Moon Clerk. So Moon Clerk is a thing that kind of attaches onto Stripe and it's really, really cheap. Any of you all thinking about that. But I was just looking at this yesterday and one of the cool things about it is you can collect rents by credit card and or by ACH. So directly from their checking account, which sometimes is good because you can set it up where they can pay on the days that they get paid from their lawyer, right.

Shaneka: Oh I like that.

Joe: Yeah. Alright. How did you advertise the lease option? What did you do there?

Speaker 3: Facebook Marketplace.

Joe: Oh, cool. That's it.

Shaneka: Yeah. Yeah.

Joe: Did you do signs or Craigslist?

Shaneka: No.

Joe: Wow. So did you advertise it as a lease option on Facebook?

Shaneka: No because remember when it first started? I didn't know anything about that. It was supposed to be a typical wholesale deal. So when they initially came out it was supposed to be, I was supposed to be wholesaling it, but yeah, so when she came, they liked the house. They didn't really care how they purchased the house. They just wanted to house. You know, they, they liked it they wanted it. So, and then, you know, I wouldn't explain anything to them about, you know, a wholesale deal, you know, they were just coming in as a buyer, period. So, you know, once my attorney wrote up the paperwork, then I sat down with her at that time and went over the contract, you know, with her, the terms and everything and you know, that that was it.

Joe: Do you suggest working with a realtor? What do you recommend, Shaneka?

Shaneka: I will if I happen to come across one that I can work with, but so far I haven't, but I'm not opposed to it. But I just haven't…

Joe: Yeah, you know, if you can, great. If you're doing a ton of lease options, I'd recommend hiring a realtor to help you find tenant buyers and advertise and market the home. Where can people follow you at?

Shaneka: My page, you know, my private, you know, my Facebook page Sister Shaneka I also just started this really cool group it's called Real Estate Investing A to Z with the dash and we've only been up a week and we already have 4.6,000 people in our group and it's really cool and it's growing really fast and come on over to our group.

Joe: Okay. So go to Facebook, do a search for Real Estate Investing A to Z, put in a request to join. If you're a spammer, don't even request to join. Just go home, do something else. So thank you everybody for being on the show. Thank you Shaneka so much for sharing this stuff.

Shaneka: Thank you for having me.

Joe: I know you've inspired some people and it's all about keeping it simple, answering the phones. I think another big takeaway is go to your local REIA's, start networking, start flapping your lips, find people that are doing deals, find out who they're using for title company attorneys or whatnot. Be Persistent. What else?

Shaneka: Patient.

Joe: Be patient, consistent. Answer the phone that I already say that? Any final words of advice, Shaneka?

Shaneka: I would say definitely invest in your education. I purchased, like I said, I purchased a course, I believe in, you know, YouTube is out there. I don't knock YouTube, but I tend to want to try to avoid all of the noise and trying to piece stuff together. I would just simply buy the course, learn the material and execute on it.

Joe: Great Advice. Great Advice. All right Shaneka. Thank you again, guys. If you want to get on her Facebook group, just go to Facebook, do a search for Real Estate Investing A to Z, check it out and you'll be glad you did. All right. Thanks everybody. Thanks again Shaneka.

Shaneka: Thank you, Joe. I appreciate you.

Joe: It's been a lot of fun. All right. Bye. Bye.

Shaneka: Bye. Bye.

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