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Real Estate Seasons · The Investor Shed Podcast

• Nick: Well hey everybody, welcome back to the Investor Shed Podcast. We've got a banger of an episode for you today. My name is Nick Beverage. I'm here with Jeremy Kitchen. Good morning. Jeremy: Well a everybody, welcome back to the Investorshev Podcast. We've got a banger of an episode for you today. My name is Nick Beverage. I'm here with Jeremy Kitchen. Good morning. Top of the morning, Nick. How's it going? Really good. Good. Very good. Yeah. It's so it it can't get better. It cannot get better, Jerry. Last week you were such a complainer. Now you're feeling like such a positive spirit. What happened? Yeah, that was three days ago. Okay. Nick: Really good. Very good. Yeah. It's so it it can't get better. It cannot get better, Jeremy. Last week you were such a complainter. Now you're feeling like such a positive spirit. That was three days ago. I went through the weekend. Okay. I and I and I got Grokbot to do a bunch of stuff for me and I feel better. That actually solved a lot, 'cause I after that episode I went to the office, did some Jeremy: that's fine. Yeah, yeah. Back to business as usual. That actually solved a lot. 'Cause I after that episode I went to the office, did some Nick: work, and then I figured out that Grokbot can do a lot more for me than I I was given it. I I I just wasn't given it enough stuff to work on. Jeremy: given it I I just wasn't giving it enough stuff right to work on. Okay. And we're not gonna talk about Grokbot today. That'll be another episode. Today Jeremy had a great idea to actually talk about something important on a real estate investing show. Yeah. And that is let's talk about seasonality. Yeah, when to buy, when not to buy. When to buy, when to when not to buy, when to list properties during certain times of the year, when to not, you know, certain days of the week. Yeah. We can talk more just timing in general when it comes to Nick: And we're not gonna talk about Grokbot today. That'll be another episode. Today, Jeremy had a great idea to actually talk about something important on a real estate investing show. Yeah. And that is let's talk about seasonality. Yeah. When to buy seasons. When to buy, when to when not to buy, when to list properties during the certain times of the year, when to not, you know, certain days of the week. Yeah. We can talk more just timing in general when it comes to real estate investing or being you know if you're just gonna sell your house. Right. get into the minutiae of that. And I feel like I have the authority to speak on some of this because I've been I've been an agent for sixteen years now. Right. And so I've gone through a few seasons. Right. Sixteen times four plus holidays. Right. And then I've also been a real estate investor for about twelve years now. and I've purchased properties at certain times of the year, worked as you know Jeremy: real estate investing or being you know, if you're just gonna sell your house. Right. get into the minutiae of that. And I feel like I have the authority to speak on some of this because I've been I've been an agent for sixteen years now. Right. And so I've gone through a few seasons. Right. Sixteen times four. Mm-hmm. plus holidays. Right. And then I've also been a real estate investor for about twelve years now. and I've purchased properties at certain times of the year, worked as you know Nick: Every time of the year I've been working on properties. Some some months are better than others. And we'll we'll kind of get into some tips and tricks on how to t you can't always control timing, but when what you do have control over, yeah. What to focus on during certain seasons that might give you a slight edge. For sure. And what we're talking about is kind of obviously our localized market. I'm not sure if it translates nationally, but I'm pretty sure like a lot of trends follow what we do. You know what I mean? Because if it sits down to one area, it's down in a lot of areas. It just kind of Jeremy: Every time of the year I've been working on properties. Some some months are better than others. Yeah. And we'll we'll kind of get into some tips and tricks on how to t you can't always control timing, but when what you do have control over, yeah. What to focus on during certain seasons, that might give you a slight edge. For sure. And what we're talking about is kind of obviously our localized market. I'm not sure if it translates nationally, but I'm pretty sure like a lot of trends follow what we do. You know what I mean? Because if real estate's down in one area, it's down in a lot of areas. It just kind of I think ebbs and flows. Nick: I think this will for the most part Jeremy: Yeah. Nick: really kind of cover most areas of the country. but we do kind of hit we're gonna hit a little bit hard when it comes to winter in North Idaho. We we get ice and rain and snow. but a lot of parts of the country, you know, it it's it gets cold during the winter. it doesn't necessarily mean that things completely slow down or shut down, but some weeks of the year it does. Yeah. so why don't we just start off with where we are Jeremy: We get ice and rain and snow, but a lot of parts of the country, you know, it it it's it gets cold during the winter. doesn't necessarily mean that things completely slow down or shut down, but some weeks of the year it does. Yeah. so why don't we just start off with where we are Nick: now and We're currently recording this. Yeah. you know, during the first couple of weeks that kids are going back to school. Right. And what we've noticed, at least what I've noticed in the real estate area in our area, the first week of school, once school goes back in, it's a it feels like a dead zone. Jeremy: Yeah. you know, during the first couple of weeks the kids are going back to school. Right. And what we've noticed, at least what I've noticed in the real estate area in our area, the first week of school, once school goes back in, it's a it feels like a dead zone. Nick: It is. It's one of those magical little dead zones that doesn't last. Yeah. But f during the first week or two when school people go back to school, for the most part Jeremy: school people go back to school for the most part, a big chunk of your buyers and sellers are on a break. Yeah they're on a break from looking at houses, selling houses, they are busy with their kids. They are probably already moved into a place that would make sense for their kids to go to school, right? Yeah. Now that doesn't mean that the MLS activity goes to zero because you still have elderly people buying and selling homes, you still have people without kids, you know, younger people buying and selling. but Nick: A big chunk of your buyers and sellers are on a break. Yeah. They're on a break from looking at houses, selling houses. They are busy with their kids. They are probably already moved into a place that would make sense for their kids to go to school, right? Yeah. Now that doesn't mean that the MLS activity goes to zero because you still have elderly people buying and selling homes. You still have people without kids, you know, younger people buying and selling. but a big Jeremy: Big portion, like I would say I'm guessing here, but three fourths of the buyers and sellers out there, they have kids. Yeah. They have kids in grade school. so like that's a pretty significant size of the market that's just not doing really anything. Right. But it's just a couple week period. Yeah. once they get back in the habit and the minutia going back to school, things tend to pick up again halfway through September. Yeah. and just continue as normal. Nick: Proportionate, like I would say, I'm guessing here, but three-fourths of the buyers and sellers out there, they have kids. Yeah. They have kids in grade school. so like that's a pretty significant size of the market that's just not doing really anything. Right. But it's just a couple week period. Yeah. once they get back in the habit and the minutia going back to school, things tend to pick up again halfway through September and just continue as normal. Jeremy: And I n I I noticed that from my end too. Obviously I do real estate media, so we kind of follow the same trends what we do as far as when you're busy, I'm busy. Does that make sense? yeah, the first week of school I had so many cancellations and drops. I think I only did like seven appointments that week. Yeah. Which is which is almost like an all time low for what a week is. but then the next week it was just almost business back to normal, which was crazy. Yeah. So here's so there, you know, Nick: And I I noticed that from my end too. Obviously I do real estate media, so we kinda follow the same trends what we do as far as when you're busy, I'm busy. Does that make sense? Yeah, the first week of school I had so many cancellations and drops. I think I only did like seven appointments that week. Yeah. Which is which is almost like an all time low for what a week is. but then the next week it was just almost business back to normal, which was crazy. Yeah. So here's so there, you know Jeremy: you talk about it's just a couple week period, and there's really no danger to it. Nick: You talk about it's just a couple week period. There's really no danger to it if you're an investor or you're a real or an agent. But if you are a seller, there is some danger to listing your house right after Labor Day or you know, just before l you know, that Labor Day weekend or something like that where everybody's busy doing other stuff on Labor Day weekend for the most part. And when I say everybody, I'm generalizing. most people, the overwhelming majority of your buyers are not looking at houses on Labor Day weekend. Jeremy: Or you're or an agent. But if you are a seller, there is some danger to listing your house right after Labor Day. Or you know, just before you know that Labor Day weekend or something like that, where everybody's busy doing other stuff on Labor Day weekend for the most part. And when I say everybody, I'm generalizing. Yeah. all most people, the overwhelming majority of your buyers are not looking at houses on Labor Day weekend. That's true. They're getting ready for school and they're and they're Nick: They're getting ready for school and they're and they're enjoying the last little tiny bit of their summer. Yeah. they're staying at families, you know, friends, they're camping, whatever they're doing. Right. But very low chance that they're out looking at real estate. So you have a very small market actually looking at real estate. There's always people buying and selling houses every day. But when a huge chunk of your buyers are not doing anything, that is the worst time to put a house on the market because Jeremy: tiny bit of their summer. Yeah. they're staying at families, you know, friends, they're camping, whatever they're doing. Right. But very low chance that they're out looking at real estate. So you have a very small market actually looking at real estate. There's always people buying and selling houses every day. But when a huge chunk of your buyers are not doing anything, that is the worst time to put a house on the market because the first ten days of market exposure is Nick: The first 10 days of market exposure is critical Jeremy: critical yeah to not becoming stale on websites right and having your days on market start racking up. So picture this. you have a a fantastic house, it's ready to list, it's Labor Day, whatever. It's just like you call your agent, you're like, let's list it on that Monday or Tuesday. I'm ready to go. And they list it, it goes on the market, it looks beautiful, it's priced right, nobody's looking, nobody's calling. There's only only a few. Nick: to not becoming stale on websites and having your days on market start racking up. So picture this. you have a a fantastic house, it's ready to list, it's Labor Day, whatever. It's just like you call your agent, you're like, let's list it on that Monday or Tuesday. I'm ready to go. And they list it, it goes on the market, it looks beautiful, it's priced right, nobody's looking, nobody's calling. There's only only a few. Jeremy: but but Nick: But but y you the the actual serious buyers that may look pay attention, you know, in a week or two, once they finally pay attention, like, this house's been on the market for a couple of weeks, I wonder what's wrong with it. You know, or the algorithms aren't pushing it as hard. It gets buried 'cause it starts getting buried Jeremy: y you're the the actual serious buyers that may look pay attention, you know, in a week or two. Once they finally pay attention, like, this has been on the market for a couple of weeks, I wonder what's wrong with it. Right, yeah, yeah. The algorithms aren't pushing it as hard. It gets buried 'cause it's not getting the traction. Nick: because it's already a week or two old. Right. And then fresh listings are coming up, bigger, better, you know what I mean? And Jeremy: Right. And then fresh listings are coming up, bigger, better, you know what I mean? And and and any time you're listing a property, your first impression with the market is is critical. I mean it's it that's that's where most houses that sell sell quickly. Yeah. or or they sell they sell within the first week or so when everybody's excited about new stuff. Right. That's that's what helps you. if you don't get that first week or so of buyers that are interested just because it's new and it looks fresh and it's a new toy Nick: And and anytime you're listing a property, your first impression with the market is is critical. I mean it's that's that's where most houses that sell sell quickly. or they sell they sell within the first week or so when everybody's excited about new stuff. Right. That's that's what helps you. if you don't get that first week or so of buyers that are interested just because it's new and it looks fresh and it's a new toy. then you're kind of just reliant on waiting for the perfect buyer or price drops. Yeah, that's true. but on the flip side of that coin, honestly, like if you are an investor buying during that exact period, and maybe you see something that has a lot of days on market, right? That doesn't have any traction, reach out to your agent and they're saying like, no showings, like maybe there's opportunity there as well. Yeah. It is and you brought up a good point. It's the per it's almost the perfect time to start looking at MLS deals a as an investor if you're looking for something interesting. Just, you know, just know that Jeremy: Then you're kind of just reliant on waiting for the perfect buyer or price drops. Yeah, that's true. but on the flip side of that coin, honestly, like if you are an investor buying during that exact period, and maybe you see something that has a lot of days on market, right? That doesn't have any traction, reach out to your agent and they're saying, like, no showings, like maybe there's opportunity there as well. It is and you brought up a good point. It's the per it's almost the perfect time to start looking at MLS deals as an investor if you're looking for something yeah interesting. Just you know, just know that that type of buyer looks Nick: That type of buyer looking for a fixer up or something like that. It's probably not the one with kids and stuff, but but anyway, it's just just a slight it should be more of a caution than a pro. Yeah. listing right when c the school starts, is something like you should just hold off on. Right. Now if it's a full week before that, not a big deal. Sure. Hopefully you've you've captured that last week of summer. or if it's, you know, now mid September, then you go on. It's fine. Jeremy: or up or something like that. It's probably not the one with kids and stuff. Sure. but anyway, it's just just a slight it should be more of a caution than a pro. Yeah. listing right when c the school starts is something like you should just hold off on. Right. Now if it's a full week before that, not a big deal. Sure. Hopefully you've you've captured that last week of summer. or if it's, you know, now mid September, then you go on. Yeah it's fine. Nick: There there is going to be another period like that though, and that is when Thanksgiving. Yeah. Thanksgiving week. Thanksgiving like almost Thanksgiving to Christmas i is the biggest dead zone of the year. And I've and I've been a flipper listed I've listed a house, you know, Thanksgiving week. or you know, that week which sometimes you have to list it like you it's ready. It's like what what am I gonna do? And and I have felt that like Jeremy: There there is going to be another period like that though, and that is when Thanksgiving. Yeah, I was gonna say Thanksgiving like almost Thanksgiving to Christmas i is the biggest dead zone of the year to be honest. I've listed a house, you know, Thanksgiving week or you know, that week. Which sometimes you have to list it like rather you can't like ready. It's like what am I gonna do? And and I have felt that like this thing should have sold yeah quicker. Nick: This thing should have sold quicker and for more money. And it didn't because of the timing. But it's like, what do you just wait and sit for a couple weeks? So it's kind of hard. I don't have the perfect answers for you. All I can tell you is that that time is slow. Yeah. Very slow. And it just doesn't get the kind of attention that you that some listings deserve. Yeah. Just purely because of the timing. Right. And I will I will go into this from like a real state photographer side as well. Yeah. Like this is where marketing really comes. Jeremy: Yep. And it didn't because of the timing. But it's like w do you just wait and sit for a couple of weeks? So it's kinda hard. You I don't have the perfect answers for you. Right. All I can tell you is that that time is slow. Yeah. Very slow. And it just doesn't get the kind of attention that you that some listings deserve. Yeah. Just purely because of the timing. Right. And I I will I will go into this from like a real estate photographer side as well. Like this is where marketing really matters. Yeah. You know what I mean? Because if everybody's seeing the same thing on the MLS, you know, there's not a lot of listings going live during those dead periods. you need to be, and you've said this before, I use this to all my clients, so I'm like, you need to be the best looking house at the best price point. The beauty pageant and a price war. Yeah. You need to do that. Yeah. You need to win both. You need to win both. and a lot of times people will just like n realtors and their clients, they have lofty expectations on who to blame for their house not selling. Sure. the photographer, like the whatever it is, like Nick: Yeah. You know what mean? Because if everybody's seeing the same thing on the MLS, you know, there's not a lot of listings going live during those dead periods, you need to be and you've said this before, I use this to all my clients, so I'm like, you need to be the best looking house at the best price point. The beauty passion and a price war. Yep. You need to win. You need to win both. You need to win both. and a lot of times people will just like n realtors and their clients, they have lofty expectations on who to blame for their house not selling. Sure. the photographer. Like the whatever it is, like Jeremy: they always want to blame Nick: It is always something. Yeah, they'll like you should blame it on something. you you could blame it on it's not priced right. Right. That could be one thing that you blame. It's always the there is always a reason why something's not selling. Right. and it's almost always because the buyer that's gonna buy it just didn't see it at that time where they weren't ready and it was pri priced too high. Yeah. the it's usually one of those things. Price point matters. And I've noticed like a lot of my luxury houses, we've talked about this on the before on the podcast. Like the photos look gorgeous, the media looks gorgeous. Jeremy: Yeah, they always want to blame someone. you you could blame it on it's not price drive. Right. That could be one thing that you blame it. It's always the there is always a reason why something's not selling. Right. and it's almost always because the buyer that's gonna buy it just didn't see it at that time or they weren't ready and priced too high. Yeah. th it's usually one of those things. Price point matters and I've noticed like a lot of my luxury houses, we've talked about this on the before on the podcast, like the photos look gorgeous, the media looks gorgeous. Nick: Yeah. And and they want to blame it on the media because the media is not letting it letting it sell. Like or you're trying to sell a four million dollar house that you don't have a buyer pool for. It's just going to take time. There's a buyer pool. It's just very small and they're very picky and they take their time. I mean, i in my experience with luxury, I mean a a a luxury buyer i they they don't think or respond or act like a traditional buyer where if they're ready to buy a house they just do it because they can. Right. 'Cause they they're Jeremy: And they want to blame it on the media because the media is not letting it letting it sell. Like you're trying to sell a four million dollar house that you don't have a buyer pool for. It's just going to take time. There's a buyer pool, it's just very small. Yeah. I mean, i in my experience with luxury, I mean a a a luxury buyer i they they don't think or respond or act like a traditional buyer where if they're ready to buy a house they just do it because they can. Right. 'Cause they they're Nick: they have a pre approval. Right. Yeah, they're not like and it's like time to go like it's crunch time. It's emo it's usually heavily emotionally driven. Yeah. Jeremy: They have a pre approval. Right. Yeah, they're not like ready to go, let's buy. Like it's crunch time, it's emo it's usually heavily emotionally driven. Yeah. Nick: but with the luxury buyers, th there's not a whole lot of emotions in my experience in in it as you would think. No. so so they they tend to be disciplined with taking their time and just and waiting it out Jeremy: Yeah. I in it as you would think. Yeah. that's a good point. So they they tend to be disciplined with taking their time and just and waiting it out. Nick: until they're absolutely ready to to jump on something 'cause they're Jeremy: Right. To jump on something 'cause there's in this market especially, there's just a lot to look at. Yeah. Yeah. We have an abundant supply right now. Yeah. It is a smaller pool than you would say like your median price point, of course. But with with the luxury house, you could be priced perfect. It can look amazing online and there's just not gonna be a buyer until there is. Yeah. And you just gotta wait. You just gotta wait for that right buyer. so it's but we're not that that's not gonna speak to the majority of the case here. I think the Nick: In this market, especially, there's just a lot to look at with luxury. Yeah. We have an abundant supply right now. Yeah. And it's a smaller pool than you would say like your price point, of course. Yeah. But with with the luxury house, you can be priced perfect. It can look amazing online and there's just not going to be a buyer until there is. Yeah. And you just gotta wait. You just gotta wait for that right buyer. so it's but we're not w that that's not gonna speak to the majority of the audience here. I think the majority of the audience are gonna be real estate investors. The price point, right? The price behind. Jeremy: What I was getting at is like the the the price point, right? The price point has to be right in order to buy. and it's specify specifically for real estate investors, of course. Like don't buy emotionally like you're saying, buy with logic and you take that luxury mentality of like take your time, vet the deals, don't just jump into things. You can tell me otherwise. You jumped into deals before and I have. They haven't worked out. some of them have almost all of them have worked out. Yeah. But there's only there's a couple that haven't because my emotions were involved. That's okay. Nick: Be right in order to buy. Yeah. and it's specif specifically for real estate investors, of course. Like don't buy emotionally like you're saying, buy with logic and take that luxury mentality of like take your time, vet the deals, don't just jump into things. You can tell me otherwise. Yeah, yeah, yeah. You jumped into deals before and I have. They have worked out. most most all of them have worked out, but there's only there's a couple that haven't because my emotions were involved. That's okay. okay. So Jeremy: Okay, so when it comes to this time frame though of the holidays, you know, Thanksgiving, Christmas, there is a little bit of a window in between Thanksgiving and Christmas where there the activity comes back. A little bit, yeah. Buyers come back a little bit, it's short-lived. Yeah. it's it's maybe for another two-week period or so. Yeah. Sometime between, you know, the week early December. Right. Like the first couple of weeks of December. Yeah. Tend to be like kind of normal again. the funny thing is if you were to look at our Nick: When it comes to this time frame though of the holidays, you know, Thanksgiving, Christmas, there is a little bit of a window in between Thanksgiving and Christmas where there the activity comes back. A little bit, yeah. Buyers come back a little bit, but it's short lived. Yeah. it's it's maybe for another two week period or so. Sometime between, you know, the week y early December. Like the first couple of weeks of December tend to be like kinda normal again. the funny thing is if you were to look at our MLS stats Jeremy: stats Nick: the historical average for seasonality, you would think that sales drop off a cliff in the wintertime. Sure. But they actually go down by only about fifteen percent. Interesting. Versus the other seasons. It feels like so much more of a bigger hit than that. Yeah, it it makes it but it's also because it's like you cut away a couple of weeks here. There's just there's just more, you know, the the holidays you got Jeremy: the historical average for seasonality you would think that sales drop off a cliff in the wintertime. Sure. But they actually go down by only about fifteen percent. Interesting. Versus the other seasons. It feels like so much more of a bigger hit than that. Yeah, it it makes it but it's also because it's like you cut away a couple of weeks here. There's just there's just more, you know, the the holidays you got Nick: the New Year's, the Christmas, the the Thanksgiving that kinda eat away. Jeremy: the New Year's, the Christmas, the Thanksgiving that kinda eat away at the those weeks where it just nothing really happens. Right. Everyone's too busy eating food and drinking beer and like not buying things. But they do buy things though. They do buy and sell things in between those. Sure. there's just more breaks. Yeah. but the activity in general in our market doesn't go down as much as people would think. You don't have to sit there, you don't have to wait until springtime when you have more competition. Right. Nick: at the those weeks where just nothing really happens. Right. so it's too busy eating food and drinking beer and like not buying things. But they do buy things still. They do buy and sell things in between those. there's just more breaks. but the activity in general in our market doesn't go down as much as people would think. You don't have to sit there, you don't have to wait until springtime when you have more competition. Right. Jeremy: but for an investor it's a great time to buy. I was gonna say, do you have historical data? 'Cause you've bought a lot of flips, Nick: but for an investor it's a great time to buy. I was gonna say do you have historical data? Because you bought a lot of Like do you have historical data when you've purchased a flip? Is it mostly in the lull times or like is it mostly in summer times? Have you done any research on that? I should go back and look. I would think that Jeremy: Nick. Do you have historical data of when you've purchased a flip? Is it mostly in the lull times or like is it mostly in summer times? Have you done any research on that? I should go back and look. I would think that Nick: the majority of my flips have been purchased during the winter. Yeah. usually around January, February. Yeah. And there's it's like a two part caveat to Like And then I'll buy again towards the end of end of the summer. Sure. w but it's it's more just when the right deal comes around. it's never just like this is the time to buy, so I'm buying. I'm always buying. Jeremy: purchased during the winter. Yeah. usually around January, February. Yeah. And there's that's like a two part caveat to that. Like usually buy again towards the end of o end of the summer. Sure. w but it's it's more just when the right deal comes around. Right. It's never just like this is the time to buy, so I'll buy I'm always buy. Right. That's a good mindset to have during every season. Yeah. Every month of the year, every season of the year. Right. Nick: Right. and and I've bought every I I've bought every month every every month of the year, every season of the year. I've but I would say that the majority of my buying is in the winter. Yeah. if you were to look and this is without me looking at the data. I could be wrong, but I my gut tells me almost the majority of my transactions seem to be in like February. Yeah. February. Most of the flips we've done, like we start we typically start around winter, it feels like. Yeah. Which means it it's two things. You've gotten a good deal 'cause you're either getting long days on market Jeremy: Say that the majority of my buying is in the winter. Yeah. if you were to look, and this is without me looking at the data. I could be wrong, but I my gut tells me almost the majority of my transactions seem to be in like February. Yeah. I was gonna say, like most of the flips we've done, like we start we typically start around winter, it feels like. Yeah. Which means it's it's two things. You've gotten a good deal because you're either getting long days on market, desperate buyers, whatever, desperate sellers, whatever it is. But the truth is with my purchases, like over the last eight years. Nick: Desperate buyers, whatever, desperate sellers. And the but the but the truth is with my purchases, like over the last eight years or so, almost all of them have come from wholesalers. Right. So they were never on the market. Right, never on the market. I I did purchase a lot on the market before that when there was more Jeremy: Wholesalers. Right. So they were never on the market. Right, never on the market. I I did purchase a lot on the market before that one. Nick: distressed inventory on the MLS. So that that kind of translates still. So like obviously your wholesalers are buying from people who are more distressed probably winter, right? So like the numbers go down at the the trickle down effect too. They get worn down by the winter. Right. Jeremy: But that that kind of translates still. So like obviously your wholesalers are buying from people who are more distressed in probably winter, right? So like the numbers go down at the the trickle down effect too. They get worn down by the water. Right. and and two things, right? So like you can find better deals in winter, but it also means maybe possibly a little bit more weighting than you'd be really used to with your flip, right? 'Cause you can't do any exterior work during snow, wits rain like that, like you can't paint. But we can still do inside work. Yeah, you can still inside work, right? We can still do a lot of exterior work. It's just some things were limited. Nick: and and two things, right? So like you can find better deals in winter, but it also means maybe possibly a little bit more waiting than you'd be really used to with your flip, right? Because you can't do any exterior work during snow, with rain like that, that you can't paint. But we can still do inside work. Yeah, you still do inside work. And we can still do a lot of exterior work. It's just some things we're limited on depending on the weather. Can't do landscaping, of course. Like Depends. It does depend. Yeah, depends on how what the if the is there is if there's snow. Yeah. Sometimes that's great. Jeremy: Can't do landscaping, of course. Like Depends. Right. It does depend. Yeah, it depends on how what the if is there is if there's snow. Yeah. Sometimes that's great. Yeah Nick: You know, if we're ready to sell like if if I buy a house towards, you know, the end of end of summer, early fall, and it's not ready until mid winter and we're and we're selling it, sometimes we get away with this is part of the seasonality hacks. If you know that you're gonna list in the middle of winter, maybe you don't do any landscaping at Jeremy: you know, if we're ready to sell Yeah. If if I buy a house towards, you know, the end of end of summer, early fall, and it's not ready until mid-winter and we're and we're selling it. Sometimes we get away with this is part of the seasonality tax. If you know that you're gonna list in the middle of winter, maybe you don't do any landscaping at all. Nick: all. And you saved your entire, you know, few thousand dollar lamb landscaping budget because it's buried in snow. No one's gonna see it anyway. Sure. No one's gonna see what a Jeremy: Yeah. And you saved your entire, you know, few thousand dollar lamp landscaping budget because it's buried in snow. No one's gonna see it anyway. Sure. No one's gonna see what a disaster Nick: disaster it is. Does anybody ask? So like if you're listening, no nobody asks like what's the landscaping look like underneath the snow? No. You would think what does it look like? Yeah. I mean it looks like this grass and weeds maybe. I don't know. Yeah. But it's covered in snow. Like Yeah, usually they'll if there's sprinklers or something like that. Most of the houses that I've flipped though don't Jeremy: it is. Does anybody ask? So like if you were listening, no and nobody asks like what's the landscaping look like underneath the snow? No. Crazy. That's crazy. What does it look like? Yeah, I mean it looks like it's grass and weeds maybe. I don't Yeah, I haven't seen it in six months. I don't know. yeah, usually though if there's sprinklers or something like that. Most of the houses that I flip though don't Nick: have sprinkler systems until the last couple of the last couple of years a lot of them do 'cause I've been getting better quality flips. But Jeremy: Until the last couple of the last couple of years a lot of them do because they've been getting better quality flips. Right. yeah, for the most part, landscape if you're listing in the middle of the winter, don't have to worry about landscaping. That's true. That's pretty nice. Yeah. That's a huge perk. Yeah. but as long as you sell it before the snow clears. But you also have these mini breaks where you have slow times. You just have to, you know, know that Thanksgiving, Christmas, New Year's, these are weeks. Nick: Yeah, for the most part, landscape if you're listening in the middle of the winter, don't have to worry about landscaping. So that's pretty nice. Yeah. That's a huge perk. Yeah. but as long as you also have before the snow clears. But you also have these mini breaks where you have slow times that you just have to, you know, know that Thanksgiving, Christmas, New Year's, these are weeks where there's just not much going on. Whole weeks. It's not just a day, it's like whole weeks or whole week we whole two week periods sometimes. Jeremy: Where there's just not much going Yeah. Whole weeks. It's not just a day, it's like whole weeks during those holidays. Whole two week periods sometimes on average. So you've got almost six weeks there of like very little activity. Yeah. Specifically zero activity. It just means very little activity. Yeah. Yeah. Yeah. No, I'd be I'd be interested to see like if you've you've obviously kept track of all your flips and when you bought them, you have all that paperwork. It'd be fun to see when you actually purchase a flip and when like your high buying season are I know you buy all the time. Nick: On average. So you've got almost six weeks there of like very little activity. Yeah. But it doesn't mean zero activity. It just means very little activity. Yeah. Yeah. Yeah. No, I'd be I'd be interested to see like if you you've obviously kept track of all your flips and when you've bought you have all that paper. Yeah, I do. It'd be fun to see when you actually purchase a flip and when like your high buying season are. I know you buy all the time. You know what? Maybe by the end of this w continue. I'm gonna have AI look into it and it will tell us. Okay. Interesting. Jeremy: And the and the answer. Yeah. I'm gonna have AI look into it and it will tell us. Okay. Interesting. and again, like I think what it comes down to, obviously we're talking about numbers and when you should and shouldn't buy. You will know when it's the right time to buy or not buy a house. based off your availability and your capacity to do so, right? huh. N Nick's barely paying attention, he's he's typing. Nick: and again, like I think what it comes down to, obviously we're talking about numbers and when you should and shouldn't buy. You will know when it's the right time to buy or not buy a house. based off your availability and your capacity to do so, right? Uh-huh. Nick's barely paying attention. He's he's typing. but it it's what they always say, you know, like time in the market's better than timing the market. Like buy when it makes sense. When you do that and you hold, if you're a hold, buy and hold investor, typically the longer you hold the Jeremy: But it it it's what they always say, you know, like time in the market is better than timing the market. Like buy when it makes sense. When you do that and you hold, if you're a hold, buy and hold investor, typically the longer you hold the property, the better you're going to be. Nick: property, the better you're going to be. Jeremy: He's using his Nickbooks right now to NIPBot. Nick Bot. Well you're in Nickbooks. So I said look at my buying and selling. Nick: He's using his Nickbooks right now to Nick bought. Well you're in Nickbooks. So I said, look at my buying and selling data of all my flips and tell me my average buying time of the year and selling time of the year. Okay. So we'll come back to that. It will go through man, this is awesome. Yeah, so it's Jeremy: Okay. So we'll come back to that. It'll just do man, this is awesome. Yeah. So it's Nick: gonna it'll dig through all my files and stuff and yeah, it it knows when I bought and sold everything, so we'll put something together for us. Okay. So I'll come back to that. Okay. Yeah. Very cool. Jeremy: It knows when I bought and sold everything, so it'll put something together for us. Okay. So I'll come back to that. Okay. Yeah. Very cool. sorry, yeah, I wasn't really paying attention. No, I'm just saying like time in the market is better than timing the market, you know what I mean? Like if you're like most times like it's going to just make sense to buy when you know it's time to buy. Don't just like, I have to wait for October twentieth. Yeah. When you're making a buying decision Nick: sorry, yeah, I wasn't really paying attention to what you were saying. Like timing the market is better than timing the market, you know what I mean? Like most times like it's going to just make sense to buy when you know it's time to buy. Don't just be like, focus on getting October 20th. Yeah. When you're making a buying decision, I would put ninety percent of your decision efforts into am I getting a good deal? Yeah. And then maybe eight percent of the rest of it, like, is this the right location? Jeremy: decision efforts into am I getting a good deal? Yeah. And then maybe eight percent of the rest of it, like is this the right location? Yeah. Nick: and then maybe two percent on timing or something like that. I mean that that was completely made up stats in my head just now. But it feels pretty accurate, but But it it should your your Jeremy: and then maybe two percent on timing or something like that. Yeah. I mean that that completely made up stats in my head. Yeah. But if it feels pretty accurate, but most I would say Nick: primary thing should be am I getting a great deal that I can just, you know, if I didn't even do anything with it, could I just put it on the market at any time of year and it will make me money? Yeah. I would say put a little bit more stock into location. Sure. Yeah, but but the I like where heads out with for sure. a good enough deal will make up for that. Yes. Jeremy: Yeah. I would say put a little bit more more stock into location. Sure. Yeah, but but I I like where your head's out with it for sure. a good enough deal will make up for that. Yes. Yeah, a good enough deal makes up for a lot. Yeah. yeah, it depends. Okay. I I have yet. I'm thinking of like really, really, really vacant land with no like like non usable land. Remember when we went to Nick: Yeah, a good enough deal makes up for a lot. Yeah. Yeah, it depends. Okay. I'm thinking of like really, really, really vacant land with no like like non usable land. Remember when we went to I can't remember which investing seminar it was, but this guy was buying like raw land with no access to anything that just basically people use to motorcycle on. Yeah, horrible advice. Yeah. Yeah, so I'm talking about houses actually. you know, some of my best deals though. Jeremy: Can't remember which investing seminar it was, but this guy was buying like raw land with no access to anything that just basically people used to motorcycle on. Yeah, horrible advice. Yeah. Like I'm just like, that doesn't feel like the good idea. Nick: I I remember I bought this house a c three years ago or so before it got foreclosed on. and it was a single wide mobile home, not tied down to real property. I it it came with real property, no. and it was right off the highway in Cataldale that that I got from Mike. No. No, no, no, we made money. Did you was this one that you had to hold for like four years? No. No. You you don't even know about it because I didn't hold it very long at all. Okay, got it. Jeremy: Was this Bark? No. No. and it was right off the highway in Catalan. yeah. That that I got from You got eaten alive on that one. No. No, not that one. Did you? Was this the one that you had to hold for like four years and no. No. You're going to go about it because I didn't hold it very long enough. Okay. Got it. but we got such a great deal. Mm-hmm. and I mean it was the the least amount of effort I put it it was one of the least amount of efforts I put into a fix and flip. Yeah. And we made like fifty grand. great. Nick: but we got such a great deal. and I mean it was the least amount of effort I put it, it was one of the least amount of efforts I put into a fix and flip. Yeah. And we made like fifty grand. great. Just and it was horrible location, yeah. Right off the freeway, like the freeway's your front yard. Right and it's a mobile home, not tied down real property. Cut came with a third of a acre lot, but it was an insanely great deal. Jeremy: And it was horrible location. Yeah. Right off the freeway. Like the freeway's your front yard. Right. And it's a mobile home. Not tied down real property. Cut came with a third of a acre lot, but it was an insanely great deal. Okay. I don't even talk I've never d I don't think I've ever talked about that one. Gotcha. I remember that one. That's the one that you you had your contract to work on for like a week, right? And then you were done? Yeah. The the the cleaner they brought it. Yeah, yeah. Cool. Yeah. Her spouse is getting Nick: I don't even talk I've never d I don't think I've ever talked about that one much. I remember that one. That's the one that you you had your contract to work on for like a week, right? And then you were done? Yeah. The the the cleaner that brought it to. yeah. Yep. Cool. Yeah. Her spouse was getting foreclosed. The one I was thinking of was the money part. So that was n that was an example of something that wasn't a great deal. Right. I'm trying to give examples. Jeremy: The one I was thinking of was the one I think you paid like four hundred grand for the mobile home out in So that was n that was an example of something that wasn't a great deal. Right. That's the one I thought you were talking of, yes. There was a house that we bought together for sixty two grand in Priest River that we forgot about 'cause we flipped it so fast. Yeah. The foundation was falling in. Mm-hmm. it was a horrible you know, it was it was in the in Priest River. We got we got it for like sixty two grand though. That shorty's that. no, this was the the Washington, yeah, yeah. Nick: There was a house that we bought together for sixty-two grand in Priest River that we forgot about because we flipped it so fast. But the foundation was falling in. it was a horrible, you know, it was it was in the in Priest River. We got we got it for like sixty-two grand though, or something like that. no, this is the Washington Street. Yeah. And we didn't even do an inspection or anything. Yeah, we we pulled that. I don't even think you ever went inside it, did you? You went you took photos. Yeah. And I changed out the front door lock. Jeremy: Yeah. And we didn't even do an inspection or anything. Yeah, we we whole tailed that didn't we didn't think you ever went inside it, didn't you? I went, I took photos. You took photos. Yeah. And I changed out the front door lights. And we made we made like fifty grand on that one. Yeah. I think we had Sean clean it out, didn't we? We had a little bit of clean out. Six grand. Yeah. We we paid my brother six grand to pull everything out of the house, all the junk and spray with primer. And spray spray down everything with primer. That's right. Yeah. And then we threw it on Nick: And we made we made like 50 grand on that one, I think. That we shared. We spent we gave him six grand. Yeah. We we paid my brother six grand to pull everything out of the house, all the junk, take it all the and spray spray down everything with primer so it didn't stink so bad. Yeah. And then we threw it on the market, and then I ended up selling it directly to a contractor who still will list it with me once he fixes up. He saw them fix it up. geez. Okay. He just replaced the roof and he's I'll get to it when I get to it. Jeremy: still will list it with me once he fixes up he saw him fix it up. jeez. Okay. He just replaced the roof. He's like, I'll get to it when I get to it. Yeah. Well clearly it's not a priority and that's Crazy. So is he is he holding that on hard money or do you buy it with cash or he bought it with hard money. Okay. Yeah. But he makes a lot of money. He builds custom homes and stuff and then does flips on the side when he gets to when he gets around to him. This one flip he worked on for seven years and finally finally flipped it. Nick: Yeah. It's not a priority to him, but it's a listing that's still to come and that was like two, three years ago, which is funny. So is he is he holding down the hard money if you buy it with cash or he bought it with hard money. Okay. Yeah. But he makes a lot of money. He builds custom homes and stuff and then does flips on the sides when he gets to him when he gets around to him. This one flipped he worked on for seven years and finally finally flipped it. But he just he has other priorities. Yeah. Which is just funny. Jeremy: He just he has other priorities. Yeah. I was saying like I don't want to say names, but we should have him on the podcast and be like, Why do you do this? Nick: And he pays hard money on it. Clearly, I mean he I guess he wouldn't do it if he didn't Yeah. But the name of this game, like typically if you're if you're using hard money and you're doing business, it's typically speed. Like get it as fast as you can, as quick and nice as you can at the same time. Quit fucking around because every day you hold it's gonna be two hundred dollars to hold the property, you know what I mean? Yeah. But then but then he'll then his time Jeremy: Yeah, but the name of this game, like typically if you're if you're using hard money and you're doing investments, is typically speed. Like get it as fast as you can, as quick and nice as you can at the same time. Quit fucking around because every day you hold it's gonna be two th two hundred dollars to hold the property, you know what I mean? Yeah. But then he'll then is Nick: is absorbed with he's gotta build this luxury house and off Dufert Road. Yeah. It's like Jeremy: Off Dufert Road. Yeah. It's like he's making a lot more money focusing on that than Which makes sense. Yeah. Why doesn't he Nick: He's making a lot more money focusing on the the flips can wait. Yeah. Jeremy: like buy a contractor, like send a contractor out there? I I don't know man. I haven't dug into it enough. Yeah. But that's an example of somebody who doesn't care about dive. Nick: dug into it enough. Yeah. But that's an example of somebody who doesn't care about dying. I will sell it years later. Who cares? Let it sit. And that's like it's important, like if you're if you're partnering with people too and we've partnered on a few deals of course, just like know what their time frames are and what their intentions are with the property too. Yeah. obviously like I love working with you because I I know that like you start making things a priority like the day you get it, you're like, I want be in and out in three weeks. Jeremy: And that's like it's important like if you're if you're partnering with people too, and we've partnered on a few deals of course, just like know what their time frames are and what their intentions are with the property too. Yeah. obviously like I love working with you because I I know that like you start making things a priority, like the day you get it, you're like, I want to be in and out in three weeks. Yeah. And then it takes longer. Which which it takes longer, but like I I appreciate the aspirations of like I want to get this shit done. Yeah, I don't I don't like to wait around. Right. I get agitated. Yeah Nick: Yeah, and then it takes longer. Which which it takes longer, but like I I appreciate the aspirations of like I wanna get this shit done. Yeah, I don't I don't like to wait around. Right. I get very agitated. Yeah like Jeremy: It really bothers you. Nick: everything needs to go now. Yeah. That's that's like w one of my flips right now. Yeah. I wanted it done in three weeks. It's probably gonna take five or six, but at least if I didn't have the kind it it would take longer. Is this the other one in close halls? Yep. One I closed on a couple weeks ago. Jeremy: Like one of my flips right now. Yeah. I wanted it done in three weeks. It's probably gonna take five or six. At least if I didn't have the kind it it would take longer. Is this other one in post walls? Yep. Cool. Yeah. Nick: Cool. Yeah. what's the updates on that one? Jeremy: what's the updates on that one? Anything going crazy? Everything's fine. That's the one we remove the cabinets on and right. That's that one. Okay. Yep. Cool. yeah, I had to right now we're just waiting on cabinets to be installed. Mm-hmm. Nick: Everything's fine. That's the way you remember the cabinets on and right. That's that's okay. Yep. Cool. yeah, I had to right now we're just waiting on cabinets to be installed. I've got a bunch of doors there that I got for free from Sean from his other flip that I didn't use all these doors on. So saved almost two grand indoors. I saved a lot of money. I bought all the appliances, some closet doors, some windows, some other random stuff. Jeremy: I've got a bunch of doors there that I got for free from Sean from his other flip that he didn't use all these doors on. Nice. So saved almost two grand indoors. Nice. I saved a lot of money. I bought all the appliances, some closet doors, some windows, some other random stuff. I got about four thousand or no, it was it was huge. It was like six grand worth of stuff for like Nick: I got about four thousand or no, it was it was huge. It was like six grand worth of stuff for like thirty two hundred dollars. How'd you do that? the lady that was helping me at Lowe's, she fat f she acts she was trying to get a di a good discount and she was trying to get everything for thirty five hundred bucks, which was nuts. We shouldn't think she could, but it was because I was spending so much. Yeah. And she accidentally typed in twenty five hundred. Jeremy: thirty two hundred dollars. How'd you do that? the lady that was helping me at Lowe's, she fat f she acts she was trying to get a di a good discount and she was trying to get everything for thirty five hundred bucks, which was nuts. We shouldn't think she could, but it was because I was spending so much. Yeah. And she accidentally typed in twenty five hundred and she was dealing back and forth with this corporate lady from Lowe's who's like, it's just below our cost. And she didn't realize she was trying to get twenty five. She's this is the best we can do. Nick: And she was dealing back and forth with this corporate lady from Lowe's who's like, it's just below our costs. And she didn't realize she was trying to get twenty-five. She's This is the best we can do. We're losing a little bit, but yeah. But she didn't even realize she's shoot, I put twenty five hundred, not thirty-five hundred. anyway. There's a good hack. And then it was all hope for somebody to bat finger. Yeah. Jeremy: Yeah. But she didn't even realize she's like, shoot, I put twenty five hundred, not thirty five hundred. there's a good hack and then it was all hope for somebody to fat finger. Yeah. Nick: no, it is a good f well they don't care. They're like, I should do that next time. Corporate Jeremy: no it is a good fat well they don't care then. Corporate, yeah, yeah. Nick: It's not like it comes out of their paycheck. Right. I mean you make enough a thousand dollar mistakes, I'm pretty sure they're gonna be like, hey, don't do that anymore. A great Lowe's hack Jeremy: Right. I mean you d me you make enough a thousand dollar mistakes I'm pretty sure they're gonna be like, hey, don't do that anymore. A great lows hack. Nick: though, I don't know I'm pretty sure this is still the way things are done. if you have Jeremy: if you have a Nick: an LAR account and you have a big order, Jeremy: And you have a big order, the L AR account won't invoice you until everything's been delivered on that order. you can have most things delivered and then just wait on a couple things for a couple months at a time and pay zero interest and and not have a bill. That feels like a secret you shouldn't be telling people because like once people catch on they're gonna be like, no no no no. So Nick: The LAR account won't invoice you until everything's been delivered on that order. So you can have most things delivered and then just wait on a couple things for a couple months at a time and pay zero interest and and not have a bill. that feels like a secret you shouldn't be telling. Once people catch on, they're gonna be like, no no no. So you don't get invoice until everything on that order has been shipped. Okay. Jeremy: Okay. So you order a bunch of stuff and you're like, hey, just make sure windows come at like March. Nick: Yeah, and say I don't need the appliances yet. You wait let's wait on those. I'll get back to you and they'll just follow up every couple weeks. Yeah, I don't need yet I don't need yet. You know. Okay. But that's that's a good way if you wanted to save if you wanted to hack and just not have a payment or interest for a while. Yeah. That's really good interest. Like if you're buying Yeah, that adds up quick. Just a little little quirk in their system or yeah, we can't invoice until they've got So you're buying brand new brand new appliances, brand new everything for this house. Jeremy: Cool. Okay. But that's a that's a good way. Interesting. Or interest for a while. Yeah. That's a really good interest. Like if you're buying that adds up quick. yeah, we can't invoice until they've So you're buying brand new brand new appliances, brand new everything for this house. Yeah. Yeah. You don't ever go to do you ever go to ding and dent stores and pick and choose some stuff? Nick: Yeah. Yeah. Mm-hmm. You don't ever go to do you ever go to ding and dent stores and choose pickers? It's just not worth it because I can get like they have ding and dent stuff at Lowe's. Yeah. but their new stuff, they can still sell to me lower than what the ding and dent was would be. But they can't deliver the ding and dents. that's important. That's a big Yeah, you have to take on your own because just the way their system works, like if it's a ding and dent discount, they they can't ship it because the appliances come from somewhere else. Jeremy: stuff at those. Yeah. but their new stuff, they can still sell to me lower than what the ding and dents would be. But they can't deliver the ding and dents. that's important. That's a big Yeah, you have to take on your own. Because just the way their system works, like if it's a ding and dent discount, they they can't ship it because the appliances come from somewhere else. Sure. so they just cannot deliver appliances that you buy as is Nick: Sure. so they just cannot deliver appliances that you buy as is. But it's better to just get a bigger discount on brand new that has the warranties and it could be delivered there. Yeah, absolutely. You don't have to worry about dents or anything. I love getting stuff delivered. That's incredible. Yeah. I like not having to lift those. yeah. Well it's it's a it's a great way just to go around those and instead of filling up a big shopping cart or everything all everything you need, just have a note pen and just write down the Jeremy: But it's better to just get a bigger discount on brand new that has the warranties and it could be delivered there. Yeah, absolutely. You don't have to worry about dance or anything. Dude, I love getting stuff delivered. That's incredible. I like not having to lift stoves. yeah. Well it's it's a it's a great way just to go around those and instead of filling up a big shopping cart or everything all everything you need, just have a notepad and just write down the the model the sorry not Nick: the model the sorry, not the model number, but the the ID number. Sure. I almost forgot what it's called. Maybe it is a model number. I yeah, whatever. There's a six or seven digit number. Yeah. I forgot Jeremy: Sure. I almost forgot what it's called. Maybe it is a model number. Mm-hmm. I yeah, whatever. There's a six or seven digit number. Yeah. I forgot. Nick: exactly what it's called. It'll come right back to me eventually, but you just make a list of everything you need in the store there and then you just bring it to the back desk and say, Hey, give me a great deal on all this stuff and deliver it to this property when you can and and wait, don't deliver the windows until yeah until I'm ready for Jeremy: You just make a list of everything you need in the store there and then you just bring it to the back desk and say, Hey, give me a great deal on all this stuff and deliver it to this property when you can and and wait, don't deliver the windows until until I'm ready for or whatever you're gonna say. Yeah. I need this dust pan specifically specifically delivered in July. Nick: Or whatever you're gonna say. I need this dust pan specific. Yeah, the dustpan. Don't deliver that. I've done I've done that before when I was in No, you don't tell when you just say, just don't deliver that yet. I need this piece, okay. Okay. Yeah. Have fun. Yep. takes a while but it it works. Are you gonna keep that flooring in there? Yes. Okay, cool. Yeah, and w there's actually more flooring in the garage. So yeah. Jeremy: Yeah, I need this piece, okay. Okay. Yeah. Have fun. Yep. That's awesome. Takes a while, but it it works. Are you gonna keep that flooring in there? Yes. Okay, cool. Yeah, w there's actually more flooring in the garage. So yeah. Spending a lot more on the kitchen than I wanted to, but spending a lot less on the flooring, so it should work its way up. Cool. anyway, let's get back to seasonality. Yeah. Sorry, we took a detour about Lowe's. Do we ever take detours here? no. Every episode, you're wrong. Nick: Spending a lot more on the kitchen than I wanted to, but spending a lot less on the flooring, so it should work its way out. Cool. anyway, let's get back to seasonality. Yeah. Sorry, we took a detour about Lowe's. Do we ever take detours here? no. Every episode. You're off. No, we don't. Anyway, how's those stats? Did we get the stats? We did. Okay, let's see here. Jeremy: Anyway, how about stats? Did we get the stats? We did. Okay, let's see here. Nick: All right. So Jeremy: So you buy most in August then January. you were right. Like late Wow. Yeah. Yeah. You sell most from February through June with another bump in September. Interesting. Nick: You buy most in August, then January. Like late Wow. Yeah. Yeah. You sell most from February through June with another bump in September. You typically hold homes about six months. All right. Cool. So you buy in winter when deals come, and you buy in summer when deals are ending Jeremy: Cool. So yeah, you you buy in winter when deals come and you buy in summer when deals are ending and Nick: and on average between it I don't know why it's only looking at the last nineteen flips. Blue hair and that's the first one that we've Yeah. Jeremy: Blue Heron, that's the gross one that we were talking about. Nick: on average media the medium number is six months. some of them took nineteen to thirty two months. Violet, blue heron, you you were one of those fast. Alabama, six weeks, Washington, you remember that one. okay. So anyway, the important things is like the time of year. so it looks like you I buy mostly in August. I was wrong. I thought Jeremy: Mm-hmm. some of them took nineteen to thirty-two months. Violet, blue hair. Violet was one of those, yeah. Fast. Alabama, six weeks, Washington, you remember that one. okay. So anyway, the important things is like the time of year. so it looks like you I buy mostly in August. I was wrong. Nick: it'd be more like the and then January. Yeah. Jeremy: Then January. Yeah. Well I mean August still feels like late summer, like late summer. Yeah. Mostly in February and yeah. Yeah. I guess it's January, not February. cool. But that's just looking at the last nineteen flips. I don't know why I didn't look at all of them. Right. Okay. That's still pretty cool though. I mean it's it's nice to know that like that is your most active month. I don't know if that changes how you Nick: Well, I mean August still feels like late summer, like yeah, late summer. I did mention that though. Yeah, it feels like late summer and then mostly in February. Yeah. Guess it's January, not February. cool. But that's just looking at the last nineteen flips. I don't know why I didn't look at all of them. Right. Okay. That's still pretty cool though. I mean it's it's nice to know that like that is your most active month. I don't know if that changes how you you know, you buy in the future. Like you're not gonna obviously wait for January or August to buy things. You're gonna do it whenever it makes sense. So Sure. Jeremy: you know, you buy in the future. Like you're not gonna obviously wait for January or August to buy things. You're gonna do it whenever it makes sense. So Sure. Yeah. Sure. Okay. so yeah. you're gonna have less competition during the and I I think we already discussed this. Yeah. But if you're you're an investor and you wanna buy, the time, you know, late summer and then winter time. Nick: Yeah. Sure. Okay. so yeah. you're gonna have less competition during the and I I think we already discussed this, but if you're you're an investor and you wanna buy, the time, you know, late summer and then winter time seems to be ideal for starting stuff. you know, I I I I do love buying stuff in Jeremy: seems to be ideal. Yeah. For starting stuff. you know, I I I I do love buying stuff in obviously January because the best, easiest time to sell tends to be sometime between March, April, May. Yeah, once that market starts really ramping back up. That's when a lot of people Nick: obviously January because the best, easiest time to sell tends to be sometime between March, April, May. Yeah, once that market starts really ramping back up. That's when a lot of people from from what I've noticed they go under contract on properties. Right. betwe March, April, May. why do you think that all all time year, yes. I just think it's because you're the majority of your buyers tend to have kids and they they see I don't know, they they want to get, you know, moved in the summer. Jeremy: they go under contract on properties. Right. between March, April, May. why do you think that is all all time year, yes. I just think it's because you're the majority of your buyers tend to have kids. Yeah. And they they see I don't know, they they want to get, you know, moved in the summer at some point or spring. It has to do with school and all that stuff. This is just my opinion. I could be wrong. Because Nick: At some point or spring, it has to do with school and all that stuff. This is just my opinion. I could be wrong. Because everybody can have a different opinion because people move every day. Right. There's transactions every day. But from what I've noticed, Jeremy: Everybody can have a different opinion because people move every day. Right. There's transactions every day. But from what I've noticed, Nick: it seems like March, April, May, if you can be listed during that time, then you don't have an excuse that it's the market timing. Jeremy: it seems like March, April, May, if you can be listed during that time, then you don't have an excuse that it's the market timing. Right. Because that's typically your easiest time to get stuff under contract. Then it's just is it priced right? Does it look good? Yeah. did you do a good enough job on the renovation to justify what you're asking? Yeah. That kind of stuff. Yeah. Nick: 'Cause that's typically your easiest time to get stuff under contract. Then it's just is it priced right? Does look good? Yeah. did you do a good enough job on the renovation to justify what you're asking? Yeah. That kind of stuff. Yeah. Yeah. So so breaking down you, like how how do you know when you're ready? Obviously, you're always ready to like buy when a deal comes. but like even even last year you're like, I'm not always ready. Yeah, but you're gonna buy any more flips or sometimes I'll be that yeah, then you take on six or seven more. Is it just because you don't want Jeremy: Yeah. So so breaking down you, like how how do you know when you're ready? Obviously you're always ready to like buy when a deal comes. but like even even last year you're I'm not gonna buy any more flips, right? And I've heard you say that and then you you take on six or seven more. Is it just because you don't want to miss the opportunity or is it because you sometimes or if the numbers just work and if it and if I just happen to be able to I I can find the cash needed sometimes I say I don't want to Nick: The opportunity or is it because you Sometimes or if the numbers just work and if it and if I just happen to be able to I I can find the cash needed. Sometimes I say I don't want to bring I don't want to take on anymore 'cause I'm just busy and I've run out of cash. Jeremy: busy and I've run out of cash. Nick: Right. but then the magic deals come where it's like, Hey, this needs no cash and very little of your own time. Yeah. Those are few and far between, but they happen and that's when I'll jump on stuff like that. Cool. Like those blazing saddle lots last year. Jeremy: Needs no cash and very little of your own time. Yeah. Those are few and far between, but they happen. And that's when I'll jump on stuff like that. Cool. Like those blazing saddle lots last year. Mm-hmm. I really didn't have the time or money or resources for but I was able to get a hundred percent financed and I partner with a guy that did all the work. Yeah. so it was really just admin paperwork for me. It was just like, okay, right. I can do that. Yeah. Easy money. No no reason to turn it down. Right. Nick: I really didn't have the time or money or resources for him, but I was able to get him a hundred percent financed and I partner with a guy that did all the work. Yeah. so it was really just admin paperwork for me. It was just like, okay, right, I could do that. No no reason to turn it down. Right. does that make sense? Yeah, absolutely. Yeah. I just wasn't sure if like you had a specific like, now I have X in the bank or now I have X availability that I need to start looking for a deal. Or you just whenever they come to you and they make sense, you jump on them. Jeremy: Does that make sense? Yeah, absolutely. Yeah. I just wasn't sure if like you had a specific like, now I have X in the bank or now I have X availability that I need to start looking for a deal. Or you just whenever they come to you and they make sense, you jump on Nick: Yeah, so that's me and I don't recommend that people do that. I think I think you should have a buffer because if if especially if you're n if you haven't done fix and flips before, you will ninety-eight percent of the time go over you're gonna spend more than you think you will. Yep. Jeremy: Yeah, that so that's me and I don't recommend that people do that. I think I think you should have a buffer, 'cause if if especially if you're if you haven't done fixing flips before. Yeah. you will ninety eight percent of the time go over you're gonna spend more than you think you will. Yep. Nick: Like it's almost guaranteed. Almost guaranteed. So you need to have resources, whether that's credit lines or extra cash sitting around somewhere where you can handle spending more. Jeremy: Like it's almost guaranteed. Almost guaranteed. So you need to have resources, whether that's credit lines or extra cash sitting around somewhere where you can handle spending more than what you think on the renovation and also spending more time on the project than you thought you would. Do you have the available time? Yeah. Are you busy at work? Right. Somebody else that can manage the project. and also do you have the extra holding cost? Yeah. 'Cause it's probably gonna take Nick: than what you think on the renovation and also spending more time on the project than you thought you would. Do you have the available time or are you busy at work? Do you have somebody else that can manage the project? and also do you have the extra holding cost? Yeah. 'Cause it's probably gonna take double or triple the amount of time that you think it will if you've never flipped a house before. so you you should have double or triple the holding costs. Jeremy: double or triple the amount of time that you think yeah it will if you've never flipped a house before. Right. so you you should have double or triple the holding costs expense. Yeah. And then you don't even know how much holding cost you need because you don't know how expensive these utility bills are going to be and like, shoot, I didn't know there's another sewer bill here in this location. I don't why am I paying two sewer bills? Well you have to. Yeah. Well or there's you know, there's all kinds of random stuff that's gonna come up. Nick: expense. Yeah. And then you don't even know how much holding cost you need because you don't know how expensive these utility bills are gonna be. And like, shoot, I didn't there's another sewer bill here in this location. I don't why am I paying two sewer bills? Well you have to. You know or there's you know, there's all kinds of random stuff that's gonna come up and it's always your fault. It's always something you have to pay for. So just make sure that you are prepared for the unexpected. Yeah. Which is very hard. Yeah. and the only way you can do that is just by having a buffer. Jeremy: And it's always your fault. It's always something you have to pay for. Yeah. So just make sure that you are prepared for the unexpected. Yeah. Which is very hard. Yeah. and the only way you can do that is just by having a buffer. Yeah. a but bigger buffer than you think you'll need. Yeah. When you're flipping a house. I think that's really incredible and important advice, Nick. yeah, have a big buffer. And also like if if this flip when you go into it is going to completely tap you. Like at the second you're trying to buy the deal, you're like, I can do this, but it's going to financially strap me. when they're buying. Nick: Yeah. A a b bigger buffer than you think you'll need. Yeah. When you're flipping a house. I think that's really incredible and important advice, Nick. yeah, have a big buffer. And also like if if this flip when you go into it is going to completely tap you. Like at the second you're trying to buy the deal, you're like, I can do this, but it's going to financially strap me. when they're buying? Jeremy: Yeah, don't do it. Yeah, don't do it. That's what I'm saying. Like like if I like put if I put all my money into this deal Nick: Yeah, don't do it. Yeah, don't ever do it. That's what I'm saying. No, no, no. If I the deal should pay for itself. If I put all my money into this deal Jeremy: and it like then I have no money, don't do the deal. Yeah, unless Nick: Don't do the deal. Yeah, unless I mean unless to structure that you are getting the deal, you know, the r how where's the renovation funds coming from then? Are they are they also being lent to you? Right. Well, if that's the case and you think, okay, well, good, I don't need money. Well, you do need money to start that renovation because you're not gonna get renovation funds reimbursed to you if you don't spend it in the first place. So you need to still have let's say, like on this project, I had like a thirty five thousand dollar budget and thirty one thousand was being funded. Jeremy: Right. Well, if that's the case and you think, okay, well good, I don't need money. Well, you do need money to start that renovation because you're not gonna get renovation funds reimbursed to you if you don't spend it in the first place. So you need to still have let's say like on this project, I had like a thirty five thousand dollar budget and thirty one thousand was being funded. But so I'm like, Okay, great, I I just need to come up with four grand. No, it's not true. I need to come up or have the ability to probably put ten or twelve grand into it just to get the first draw. Nick: But so I'm like, okay, great. I I just need to come over four grand. No, it's not true. I need to come up or have the ability to probably put ten or twelve grand into it just to get the first draw. Yeah. Jeremy: Yeah. so there's y you always need to have more money than you think, even if you have things funded. Right. and then you have to have and then if it stretches you just to buy it, who's gonna make the payments? You know. Gotta think about these things. so you just have to have more money than you think Nick: so there's y you always need to have more money than you think, even if you have things funded. Right. and then you have to have and then if it stretches you just to buy it, who's gonna make the payments? You know. Those payments are real. so you just have to have more money than you think. Jeremy: when you're taking off. Nick: When you're taking on flips. or just partner with somebody who has done it before. Yeah. And make sure that you you Jeremy: Yeah. And make sure that you you Nick: are not the responsible one for coming up with all the cash and maybe you have a different responsibility. Yeah. You're learning. Who knows? Yeah. but plenty of different ways to skin that gut. Yeah, there's so many different ways. But just know that you know flipping a house can be immensely rewarding if you buy it correctly, but it can still always go over budget, even if you bought it correctly. Jeremy: Yeah. but plenty of different ways to skin that cat. Yeah, there's so many different ways. But just know that you know flipping a house can be immensely rewarding if you buy it correctly, but it can still always go on a budget, if you bought it correctly. Speaking of, here's twenty thousand dollars. Nick: Speaking of, here's twenty thousand dollars. thank you. Jeremy wrote me a check for twenty twenty thousand dollars. Did you get did you get an invitation to sign anything? I haven't yet, but we will we'll get it. Nothing yet? Jeremy: Did you get did you get an invitation to sign anything? I haven't yet, but we will we'll get that. Nothing yet. We'll get we'll get your grop bot to send me a a a sign link after the podcast. Nick: Nothing. Okay. Let's see why. We'll get we'll get your grop bot to send me a a a sign link after the podcast. Done, no questions. Okay. Jeremy's link went to quick deal funding at Gmail. Okay. Did you check that one? No, I checked the same one you sent me last time. Quick deal funding. Sorry. There it is. Please sign, baby. We're good. Okay. Thank you, bot. Thank you for doing your Jeremy: okay. Did you check that one? No, I checked the same one you sent me last time. Quick deal funding. There it is. Please sign baby. We're good. Okay. Yeah, we'll sign that here in a minute. Yeah. Nick: job. You just sent it to the wrong email. That's okay. Jeremy: That's okay. Nick: Okay. That kind of stuff happens. Yeah. Jeremy: Yeah. Well cool. yeah, by the way, so N I just funded Nick for one of his projects here. We're doing a a quick little loan to Yeah, thank you. Yeah. Little little juice back up, little top off if you will. Live on the air. Nick: Well cool. yeah, by the way, so N I just funded Nick for one of his projects here. We're doing a a quick little loan to Yeah, thank you. Yeah. Little little juice back up, little top off if you will. Live on the air. We are live and Jeremy's giving me twenty grand. And not I'm not my retirement account. His retirement account is and we're he's investing it into my projects. I appreciate it. Yeah. Jeremy: Not I'm not my retirement accountist. Yeah. Nick: give you a little juicy deal on this one 'cause you gave me a really good deal last time. Yeah. You did give me a pretty damn good interest rate. Pretty good interest rate. Yeah. You offered eighteen and I'm like, I'm not gonna say no. Like I was gonna pay a credit card eighteen. Yeah. That's exactly what I want that money doing. So no, thank you. And didn't expect it to go that long. Again, Jeremy: give you a little juicy deal on this one, because you gave me a really good deal last time. Yeah. You did give me a pretty damn good interest rate. Pretty good interest rate. Yeah. You offered eighteen and I'm like, I'm not gonna say no. Like credit card. Yeah. Well, I'm not gonna say no to eighteen. Like just so you know. Like that's exactly what I want that money doing. So no, thank you. And didn't expect it to go long. Again. Nick: hence even when we've been doing it for twelve years, things can still be out of your anticipation. Yep. so yeah. Jeremy: Hence even though you've been doing it for twelve years, things can still be out of your anticipation. Yep. so yeah. Nick: okay. So let's talk about spring's springtime. Yeah. no, no. As an agent, as a as an as an agent, don't get discouraged if you are selling real estate and you just started. things things come back every other week. Yeah. so during your slow weeks, get educated. Jeremy: okay, so let's talk about spring's springtime. Yeah. no no as an agent, as a as an as an agent, don't get discouraged if you are selling real estate and you just started. things things come back every other week. Yeah. so during your slow weeks, get educated. take your you know try to put marketing feelers out there do whatever you can to generate leads Nick: take your you know, try to put marketing feelers out there, do whatever you can to generate leads. Jeremy: don't just sit there and twiddle your thumbs there's always something to do in this business because every other week things pick up seems like yeah okay so springtime this is the perfect time to list properties but it it's not you don't have to Nick: Don't just sit there and twiddle your thumbs. There's always something to do in this business. Because every other week things pick up, seems like. Yeah. okay. So springtime. this is the perfect time to list properties. but it it's not you don't have to. You can list any time of year. but I've just found it to have the you you got the the most amount of buyers. March Jeremy: You can list any time year. but I've just found it to have th you g you got the the most amount of buyers, March, April, May. True. I have noticed in June, right after school start stops, things all of a sudden slow down. Not every year, but for some most years. And this is North Idaho specifically from what I've noticed, it's just not as busy. Nick: April, May. True. I have noticed in June, right after school start stops, things all of a sudden slow down. Not every year, but for summer most years. And this is North Idaho specifically, from what I've noticed, it's just not as busy. because now you got a lot of families out there camping, having fun in the summer, not looking as heavily at ra at real estate as they were. Jeremy: because now you got a lot of families out there camping, yeah, having fun in the summer, not looking as heavily at ra at real estate as they were in the spring just before school. Sure. Or just you know before school got out. But there's still plenty of plenty of stuff going on in the summertime. July especially. It's a great time if you're an Airbnber. June, July, August. Nick: in the spring just before school. Sure. Or just yeah before school got out. But there's still plenty of plenty of stuff going on in the summertime. July especially it's a great time if you're an Airbnbier. June, July, August Jeremy: in North Idaho is insane. That's like where people make eighty to ninety percent of their income. Yeah. Is just in those, you know, three months. So if you're doing Airbnbs, it's the best time to have available. Nick: in North Idaho is insane. That's like where people make eighty to ninety percent of their income is just in those, you know, three months. So if you're doing Airbnbs, it's the best time to have available. Jeremy: after that it's pretty slow throughout the year from from my experience and other people's experience that I know that have had Airbnbs. Right. so Nick: after that it's pretty slow throughout the year from from my experience and other people's experience that I know that have had Airbnbs. Right. so if you're buying a flip, know this. If you're buying a flip during the summer, there's a very good chance, depending on what kind of you know what needs to be done. But a lot of flips tend to take two to three months, four months, six months to get done. And then when when you're ready, Jeremy: If you're buying a flip, know this. If you're buying a flip during the summer, there's a very good chance, depending on what kind of you know, what needs to be done. But a lot of flips tend to take two to three months, four months, six months. Yeah. I'd say three to six would be. And then when when you're ready, it could be right at that Thanksgiving winter time where that's true. So just know if you're purchasing something in the summertime, don't Nick: It could be right at that Thanksgiving winter time where it is just gonna be slow. So just know if you're purchasing something in the summertime, don't look at the data of the last three months. Because if you look, you know, if you're buying something in June or July, you may look at the last three months and be like, this market's freaking awesome. Look at this is selling for this, this is selling for this, you know, there's all these that good comps I can look at. But just know that like when you're done with that flip. Jeremy: Look at the data of the last three months. Because if you look you know, if you're buying something in June or July, you may look at the last three months and be like, This market's frickin' awesome. Look at this is selling for this, this is selling for this, you know, there's all these that good comps I can look at. But just know that like when you're done with that flip, it's gonna be a very different market, temporary. but you might have to adjust for things not being as Nick: It's gonna be a very different market, temporary. but you might have to adjust for things not being as juicy and right it because you'll be most likely right in the middle of holiday time. Right. and you just need to account for that, that that could actually shave some of your profit away. just 'cause you don't have as many buyers. Yeah. Jeremy: juicy and right it because you'll be most likely right in the middle of holiday time. Right. and you just need to account for that that that could actually shave some of your profit away. just 'cause you don't have as many buyers. Yeah. Not probably not gonna have multiple offers. Yeah. And that kind of stuff. Nick: Not probably not gonna have multiple offers. Yeah. And that kind of stuff. Jeremy: In general. Every situation's different. Right. But and then your holding costs go up too as well. So consider into consideration. Yeah. Yeah, and your holding costs could go up. You just could you could be on the market longer. Yeah. there was a property a couple of years ago that I listed right on that Thanksgiving week. and it sold for four four, eventually like six to eight weeks later, sometime in January I think. Nick: In general. Every situation's different. Right. But just just take it just take that consider into consideration. Yeah. Yeah. And your holding costs could go up. You just could you could be on the market longer. Yeah. there was a property a couple years ago that I listed right on that Thanksgiving week. and it sold for four four, eventually like six to eight weeks later, sometime in January, I think. but that house, there's no reason it should have sold for less than four twenty. Jeremy: but that house there's no reason it should have sold for less than four twenty. Gotcha. But it was the timing. Yeah. after that year, the all the comps show that this this thing should have sold for more. Yeah. but it was it was seriously just the timing. It was like the maybe I should have waited until after the Thanksgiving week to throw it on where there was a couple of weeks of more production. So I've learned from that I probably will never list on a holiday week again. Right. Nick: Gotcha. But it was the timing. Yeah. after that year, the all the comps show that this this thing should have sold for more. Yeah. but it was it was seriously just the timing. It was like the maybe I should have waited until after the Thanksgiving week to throw it on, where there was a couple weeks of more production. So I've learned from that. I probably will never list on a holiday week again. Right. Jeremy: because th Nick: because the Jeremy: there's really nothing in the data that showed that it should have sold for less than four twenty, but it didn't. Yeah. Other than because it just it stayed on the market too long. Right. And that that depends on your clients as well. Like, I mean obviously you can tell your clients all this information. You can lead a horse to water, but you can't make drink type of thing. If they're like, I think we need to get on the market as soon as possible, would you listen to them? Or would you say like I really think we should wait? If I have a s if I have a seller that's like they want to go on right away? Nick: There's really nothing in the data that showed that it should have sold for less than four twenty, but it did. Yeah. Other than it because it just it just stayed on the market too long. Right. It just that depends on your clients as well. Like, I mean, obviously you can tell your clients all this information. You can lead a horse to water, but you can't make drink type of thing. If they're like, I think we need to get on the market as soon as possible, would you listen to Or would you say, like, I really think we should wait? If I have a s if I have a seller that's like they want to go on right away. Jeremy: I'll I'll tell them the same thing I just told you the audience. Yeah. Is that you know during a holiday week that's you just run the risk of like w way less people looking. Yeah. And that's when the internet is the most generous of you. so if you can just wait a week, get the house prettier, better, just wait the next week. Yeah. For sure. what do you think? Nick: I I'll tell them the same thing I just told y the audience is that you know, during a holiday week, that's you just run the risk of like w way less people looking. Yeah. And that's when the internet is the most generous with you. so if you could just wait a week, get the house prettier, better, just wait the next week is what I'd recommend. Yeah. what do you think? I Jeremy: I think that's good, man. as far as summer goes, Nick: think any any questions? as far as summer goes Jeremy: you know, from a real estate photographer standpoint, like it was nuts this summer. So June, July, August, it was just completely nonstop. Most weekends we were doing a ton of photo shoots. I don't know what it's looking like on the selling aspect of those, of course, but I assume most things I shoot end up selling eventually. but yeah, just it's it was crazy. It's kind of the wild west out there. It is. So Yeah, it was a busy summer, sold all of our listings. That's awesome. Nick: You know, from a real estate photographer standpoint, like it was nuts this summer. Yeah. So June, July, August. It was just completely nonstop. Most weekends we were doing a ton of photo shoots. I don't know what it's looking like on the selling aspect of those, of course, but I assume most things I shoot end up selling eventually. Yeah. but yeah, just it's it w it was crazy. It's kind of the wild west out there. It is. So Yeah, it was a busy summer and sold all of our listings. That's awesome. All of them. Congratulations. Jeremy: Congratulations. Nick: we did we did put actually one up just before Labor Day, like the week before. And because it didn't sell that week, we actually had some good activity. and someone was gonna make us an offer. They said that they would, and then they changed their mind. And then we rolled into that next week and it's been dead for two weeks. Crazy. just bound to happen. I I know activity will pick up again this week. yeah. Jeremy: we did we did put actually one up just before Labor Day, like the week before. And because it didn't sell that we we actually had some good activity and someone was gonna make us an offer. They said that they would and then they changed their mind. And then we rolled into that next week and it's been dead for two weeks. Crazy. just bound to happen. I I know activity will pick up again this week. yeah. Nick: but it's just it's unfortunate that we only had a few days Jeremy: But it's just it's unfortunate that we only had a few days on the market before things got too distracted. Yeah. When do you consider taking it off the market and re putting it back on in two weeks? 'Cause and doesn't that refresh the MLS listing so it's not a Yeah. Yeah. Now if you do this, you do I mean you it cost you two weeks. Right. 'Cause when you you have to take it off for two full weeks before you put it back on as a fresh listing. To be considered a new listing, right? Yeah. So I wouldn't do that until you've been on the market at least a month. Yeah. Nick: on the market before things got too distracted. Yeah. Where everybody's all the big buyers were just looking at other things. When do you consider taking it off the market and re putting back on in two weeks? 'Cause then doesn't that refresh the MLS listing so it's not a Yeah. Yeah. Now if you do this, you do I mean you it cost you two weeks. Right. 'Cause when you you have to take it off for two full weeks before you put it back on as a fresh listing. To be considered a new listing. Yeah, yeah. So I wouldn't do that until you've been on the market at least a month. Yeah. Yeah. Okay. Yeah. Crazy. Jeremy: Crazy. and if you aren't sure if you're priced right or not, it we might have talked about this before, but a great way to judge the market if you don't have great comps, you don't know exactly where you should be. Once you if you list at a certain price, let's say you you list for four hundred thousand dollars. Yeah, in that first week, the first ten days, if you don't have any showings during the first ten days, you could be off by almost twelve percent or more. Yeah. Nick: and if you aren't sure if you're priced right or not, it we might have talked about this before, but a great way to judge the market if you don't have great comps, you don't know exactly where you should be. Once you if you list at a certain price, let's say on you you list for four hundred thousand dollars in that first week, the first ten days, if you don't have any showings during the first ten days, you could be off by almost twelve percent or more in price. Jeremy: price you need to drop the price at day ten if you haven't had any showings. Okay. depending on you know, assuming that wasn't a holiday week or something. but most weeks of the year are not holiday weeks. Yeah, it's true. if you go the first ten days and all you've had are showings but no offers, you probably need to drop the price by five to six percent. Interesting. Yeah. Okay. Nick: So you need to drop the price at day ten if you haven't had any showings. Okay. depending on you know, assuming that wasn't a holiday week or something. but most weeks of the year are not holiday weeks. if you go the first ten days and all you've had are showings, mm-hmm, but no offers, you probably need to drop the price by five to six percent. Interesting. Yeah. Okay. Jeremy: if you've gone the first ten days and you've had a couple offers but you haven't put anything together, you're probably price dry. Right. You don't need to move on the price much. Okay. So that's your rule of thumb for the week. Yeah. Yeah, yeah. That's good to know. but as long as you're making adjustments that first week, you can keep your listing alive without having to do the Nick: if you've gone the first ten days and you've had a couple offers but you haven't put anything together, you're probably price right. Right. You don't need to move on the price much. Okay. So that's your rule of thumb for the week. Yeah. Yeah, yeah. That's good know. the as long as you're making adjustments that first week, you can keep your listing alive without having to do the you know, take it off, put it back on. Sure. Just adjust the price and watch it every ten days. Yeah. to keep the algorithms happy. Sure. Jeremy: Take it off, put it back on. Sure. Just adjust the price and watch it every ten days. Yeah. to keep the algorithms happy. Sure. Now this one that you listed right before Labor Day, have you done any price drops or anything on it or No, but it's probably time to now. Yeah. Mm-hmm. Crazy. So we'll talk today. Sure. Yeah. Just see if you can get the thing moving. Yeah. I love it. Yeah. The the thing that you know, we us almost getting an offer told us that we were priced right. I think. But because we didn't get it, I guess we weren't. Sure. Yeah. That's true. Nick: Now this one that listed right before Labor Day, have you done any price drops or anything on it or No, but it's probably time to now. Yeah. Mm-hmm. Crazy. So we'll talk today. Sure. Yep. Just see if you can get the thing moving. Yeah. I love it. Yeah. The the thing that you know, we us almost getting an offer told us that we were priced right. Mm-hmm. I think. But because we didn't get it, I guess we weren't. Sure. Yeah, that's true. Yep. Cool. Okay. Well, thanks everybody. If you have any questions, let us know. Jeremy: Yep. Cool. Okay. Well, thanks everybody. Any questions, let us know. the bot did work twice. Jeremy did get the E side. I did, I did. It it it said it worked. I got a copy of it. Perfect. Yep. Nick: The bot did work twice. Jeremy did get the E signing. Did it work? It it it said it worked. I got a copy of it. Perfect. Yep. So we're so we're done. Have a great day, everybody. We love you. And we want more of you. We want more. We want more. You give us more. You give us more. Jeremy: We want more. You give us more. You give us more. Nick: You complete us.