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Turning Homes Into Cash Machines - Casey Gregerson #6196 · Financial Survival Network

• 0:00
  Speaker 1: So I went and actually, at that point, I had
• 0:02
  Speaker 1: enough in my first one and it had appreciated and
• 0:05
  Speaker 1: I'd done some extra work on it to improve the value.
• 0:07
  Speaker 1: So everybody, I'll love this, right, this is out because
• 0:09
  Speaker 1: everybody's like, oh, how do you go from one to two?
• 0:11
  Speaker 3: Right?
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  Speaker 2: Because a lot of people just buy one?
• 0:13
  Speaker 1: Not a whole lot of people go past that, So
• 0:15
  Speaker 1: I about them or they end up selling it because
• 0:17
  Speaker 1: they're like, I'm tired of being a landlord, right. But me,
• 0:19
  Speaker 1: I'm like, let's go to a second one. And I
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  Speaker 1: what I did is I went and refinanced my first
• 0:23
  Speaker 1: one and I was old fifty thousand dollars. With that
• 0:25
  Speaker 1: fifty thousand, I went and bought the second one.
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  Speaker 3: You were listening to, Carrie. Let'sa's financial survival network where
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• 0:55
  Speaker 4: And welcome. You are listening to and watching the Financial
• 0:59
  Speaker 4: Survival at work. Hey it's early December, we're still in
• 1:02
  Speaker 4: the first week. I can't believe the year is almost gone.
• 1:06
  Speaker 4: But our commitment to bringing you interesting people with interesting
• 1:13
  Speaker 4: ways to make money to hold on to your money,
• 1:17
  Speaker 4: that that will go through until I stopped doing the show.
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  Speaker 4: Right now, I've got the interesting person on. He went
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  Speaker 4: from being in the oil field to real estate. And
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  Speaker 4: I always thought the people in the people in the
• 1:34
  Speaker 4: oil industry didn't so much do that. But his name
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  Speaker 4: is Casey Gregorson, and Casey, it's great to have you on.
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  Speaker 4: You know, you are a petroleum engineer, highly paid profession, challenging,
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  Speaker 4: mentally stimulating, and you wound up in real estate.
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  Speaker 1: That's right, Oh, just way, just the way I drew
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  Speaker 1: it up back in college, right, those engineering classes. But
• 2:02
  Speaker 1: but yeah, absolutely, yeah, that was It's been quite the journey, yeah,
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  Speaker 1: I mean initially. I mean I remember too, like my
• 2:08
  Speaker 1: undergrad I had. I had a degree, so I played
• 2:11
  Speaker 1: college football actually, and I was there for five years,
• 2:14
  Speaker 1: so unlike all my other buddies that were and I
• 2:16
  Speaker 1: went like, if I'm gonna be here for five years,
• 2:18
  Speaker 1: may be as much done.
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  Speaker 2: As I can.
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  Speaker 1: So I actually had an undergrad a major in math
• 2:23
  Speaker 1: and chemistry, in minors physics and spaaning. But after all that,
• 2:26
  Speaker 1: I was like, well, what am I actually going to
• 2:27
  Speaker 1: do with that? So luckily I got agree and I
• 2:31
  Speaker 1: got accepted to University of Wyoming to do my stress
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  Speaker 1: and petroleum engineering. So so at that point I'm like,
• 2:36
  Speaker 1: all right, now I got it.
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  Speaker 2: Now we got a path, and thought I was going
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  Speaker 2: to work oil and gas to the rest of my life.
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  Speaker 2: Pretty cool.
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  Speaker 4: So uh And obviously, when you work in O ANDNG,
• 2:46
  Speaker 4: unless unless you're running the company, you're an employee, right,
• 2:51
  Speaker 4: so they got to tell you where to go, they
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  Speaker 4: tell you what to do. But so what got you
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  Speaker 4: into real estate? I mean, I know, the opportunity of
• 3:00
  Speaker 4: the arose. You mentioned something about your dad helping you out,
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  Speaker 4: but what was a really driving force because basically you
• 3:07
  Speaker 4: had it made career wise. I mean, yeah, it's cyclical
• 3:11
  Speaker 4: on the odel patch, but for the past twenty odd years,
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  Speaker 4: you know, petroleum engineers have ruled.
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  Speaker 1: Yeah, it's it's a little bit of yeah. So for
• 3:21
  Speaker 1: sure I know that and that I'll come back to
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  Speaker 1: your last point. But as far as like how it started,
• 3:26
  Speaker 1: you start of hit on it. So I my fortune.
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  Speaker 2: The one of the best things my dad ever did
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  Speaker 2: for me.
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  Speaker 1: He was great, I mean, raised me really well, but
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  Speaker 1: he helped me with a down payment and co sign
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  Speaker 1: on my house, which is when I was actually going
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  Speaker 1: to school at the University Wyoming in twenty ten. So
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  Speaker 1: I bought that first house and U and bought actually
• 3:45
  Speaker 1: my roommate's dad who was selling it, so we bought it,
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  Speaker 1: and then I did the original house hack. Right today
• 3:50
  Speaker 1: people talk about house hacking where people will go and
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  Speaker 1: boo get it, buy a house and then have her
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  Speaker 1: favor rent. So that was initially why I did in
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  Speaker 1: twenty ten, and I just got a taste of it, right,
• 4:00
  Speaker 1: But but again I went and merchant.
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  Speaker 2: As to your point, I had a.
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  Speaker 1: Great job in oil and gas really well, I had
• 4:05
  Speaker 1: one of the most paying jobs out of college compared
• 4:07
  Speaker 1: to my peers, and I was.
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  Speaker 2: I was stoked. I loved it.
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  Speaker 1: And oil and gas was just like times in twenty
• 4:13
  Speaker 1: twelve started was it was a good time to be
• 4:15
  Speaker 1: an oil and gas. We had company credit cards andres
• 4:19
  Speaker 1: and third parties.
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  Speaker 2: Was it was fun?
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  Speaker 1: I definitely, I still I definitely have great memories of it.
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  Speaker 1: But kind of what when it started to really turn,
• 4:27
  Speaker 1: which is a lot of right, I'm.
• 4:30
  Speaker 2: Canada right.
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  Speaker 1: So I started working in the field in originally in
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  Speaker 1: like in West Texas. Right, So I as an engineer.
• 4:37
  Speaker 1: We been like six and I worked for Shell. I
• 4:40
  Speaker 1: should have started there. So I worked for Shell, big company,
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  Speaker 1: great training, right, But they sent us out to the
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  Speaker 1: field for a So when I went out the field
• 4:47
  Speaker 1: of West Texas, I got there and I quickly realized, wow,
• 4:50
  Speaker 1: this is I had a two weeks on shift where
• 4:53
  Speaker 1: I'd work two weeks on the field and then I
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  Speaker 1: have tool for all this extra time. So initially that
• 4:59
  Speaker 1: was one first kind of moment to change. Hey, wow,
• 5:02
  Speaker 1: I got all this time only work half the year.
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  Speaker 1: What what's the opportunity I could do? Right? So then,
• 5:08
  Speaker 1: like a lot of other people, I was now moved
• 5:10
  Speaker 1: up to Canada, still working in the field because I
• 5:12
  Speaker 1: had asked my I had asked my boss and my
• 5:14
  Speaker 1: mentors go like, hey, how do I stay in a
• 5:15
  Speaker 1: few because I love this schedule and I want to
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  Speaker 1: do more. So I'm driving around in the highways up
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  Speaker 1: in Alberta, Canada, and uh, and somebody recommends the book
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  Speaker 1: Rich Dad portad to me. So I never forgeted for
• 5:27
  Speaker 1: like a lot of people, right, So I'm driving around
• 5:30
  Speaker 1: and never forget. I'm driving site to site and I'm
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  Speaker 1: listening to this book and he starts to talk about
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  Speaker 1: assets and liabilities, and then that's when it clicks, right,
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  Speaker 1: like this asset that I've still owned again, at this point,
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  Speaker 1: I've owned this property for the first one. I've owned
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  Speaker 1: it for like five years, and and I've just been
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  Speaker 1: making a little bit of cash flow on it, and
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  Speaker 1: I'm happy, right it's I make a little bit but
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  Speaker 1: it's nothing, and I get some tag drafts but it's
• 5:53
  Speaker 1: nothing big. But then I read that book and I'm like, oh, wow,
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  Speaker 1: that's That's what I'd be doing, is I have an
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  Speaker 1: asset that's paying me. Right, So it clicks, and then
• 6:00
  Speaker 1: I ultimately I go down this rabbit hole of like
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  Speaker 1: reading a bunch of more books on real estate, learning
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  Speaker 1: everything I can because then and then I've got to
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  Speaker 1: bug Right then I'm like, all right, how do I
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  Speaker 1: go get the second one? So I went and actually
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  Speaker 1: at that point I had enough in my first one
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  Speaker 1: and it had appreciated and I'd done some extra work on.
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  Speaker 2: It to improve the value.
• 6:18
  Speaker 1: So everybody, I'll love this, right, this is howt Because
• 6:20
  Speaker 1: everybody's like, oh, how do you go from one to two, right,
• 6:23
  Speaker 1: because a lot of people just won. Not a whole
• 6:25
  Speaker 1: lot of people go past that, so I bought them
• 6:27
  Speaker 1: or they end up selling it because they're like, I'm
• 6:28
  Speaker 1: tired of being a landlord, right. But me, I'm like,
• 6:30
  Speaker 1: let's go to a second one. And I what I
• 6:32
  Speaker 1: did is I went and refinanced my first one, and
• 6:35
  Speaker 1: I was old fifty thousand dollars. With that fifty thousand,
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  Speaker 1: I went and bought the second one. I won't go
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  Speaker 1: too much into detail, but basically with that second one,
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  Speaker 1: I bought a house under rented and I did some
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  Speaker 1: value add to it to where when it was all done,
• 6:47
  Speaker 1: once I had fixed it up and had it rented out,
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  Speaker 1: I was not taking one thousand dollars a month of
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  Speaker 1: cash flow after I paid my mortgage, taxes, insurance and everything.
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  Speaker 2: I was making one thousand dollars. And at that point you're.
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  Speaker 1: Like, and I'm only like, I don't know, twenty five,
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  Speaker 1: twenty six at a time, I'm like, I just with
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  Speaker 1: no money, literally just from the equity of the first house,
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  Speaker 1: just created another one thousand dollars of cash flow, and
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  Speaker 1: then then it's on.
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  Speaker 2: Right, Then you started worsting huh, yeah, for sure, it's work.
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  Speaker 4: Yep.
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  Speaker 1: And your point, I was ruined, right, So then I
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  Speaker 1: did a couple other business opportunities. We invested in a
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  Speaker 1: franchise called Purebar, and I started to run my own business,
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  Speaker 1: and then I started to apply some of that stuff
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  Speaker 1: to real estate. And then like once I started running
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  Speaker 1: my own business, I always joke it was like I
• 7:30
  Speaker 1: felt almost like schizophrenic or bipolar. I was living two
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  Speaker 1: lives right, kind of like those movies right to where
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  Speaker 1: I would go to shell Show is an extremely conservative,
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  Speaker 1: like very structured company, so much red tape to get
• 7:41
  Speaker 1: anything done right.
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  Speaker 2: It's moving at a snail's pace if you like big company.
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  Speaker 4: They got controls, they got systems in place, and you're
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  Speaker 4: a you're a cog in the wheel, right.
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  Speaker 2: Yep, absolutely yeah.
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  Speaker 1: And then my other life I was living buying real
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  Speaker 1: estate deals, running a small like going as fast as
• 8:01
  Speaker 1: you're just trying to grow in scale.
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  Speaker 2: So it's a little bit two different.
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  Speaker 1: That's to your point of like how did you like
• 8:06
  Speaker 1: want to leave the Like what eventually let me transition
• 8:09
  Speaker 1: or what made me what planted the seed was like
• 8:11
  Speaker 1: being able to run my own thing and have it
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  Speaker 1: like I could have an impact and such a big
• 8:15
  Speaker 1: impact on my own bottom line when I started to
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  Speaker 1: invest and do my own deals versus I.
• 8:20
  Speaker 2: Could make good money with Shelle.
• 8:21
  Speaker 1: But I had I had a deaf thing, and I
• 8:23
  Speaker 1: could only push I can only push that so hard.
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  Speaker 4: Right, So, uh so you're looking back, you know, what
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  Speaker 4: would you have done differently? Knowing what you know now?
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  Speaker 4: Would you have bothered to go into work for Shell
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  Speaker 4: in the first place?
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  Speaker 1: That is a great question, and I have not Actually,
• 8:40
  Speaker 1: no one's ever really asked that would have started there.
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  Speaker 1: I think I would have because it helped it held
• 8:47
  Speaker 1: much for so much because I had a good paying job.
• 8:50
  Speaker 1: And this is I didn't mention this yet, but what
• 8:53
  Speaker 1: I was on the leverage was again, I had that
• 8:54
  Speaker 1: two weeks on two weeks off schedule, so I have
• 8:56
  Speaker 1: literally two weeks ago I didn't have to do anything
• 8:59
  Speaker 1: for Shell. So what I did is I started finding
• 9:02
  Speaker 1: fixer uppers, right, doing for myself or finding deals.
• 9:05
  Speaker 2: Right.
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  Speaker 1: So I started doing or doing property management and training
• 9:08
  Speaker 1: a team.
• 9:09
  Speaker 3: Right.
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  Speaker 1: I was doing all this time on my off days, right,
• 9:11
  Speaker 1: but I still had that W two job. So I,
• 9:15
  Speaker 1: like I always tell this story, I built my retical
• 9:17
  Speaker 1: from around we were around a one and a half
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  Speaker 1: to two million in total assets, like total asset value.
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  Speaker 1: Obviously we're using leverage to get there, which I'm gonna
• 9:26
  Speaker 1: get to.
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  Speaker 2: But anyway, we were able to.
• 9:28
  Speaker 1: Grow that to like fifteen million over like eighteen months.
• 9:31
  Speaker 1: And it was purely because of experience and my W
• 9:35
  Speaker 1: two income. Right I was speaking, Now I could go
• 9:38
  Speaker 1: talk and I started building with I started building relationships
• 9:41
  Speaker 1: with small banks early on, like on that second deal
• 9:43
  Speaker 1: I'm talking to you about, like I was talking to
• 9:45
  Speaker 1: a small bank building relationship.
• 9:48
  Speaker 2: So now I had that W two income.
• 9:50
  Speaker 1: So that's why I think I would have probably would
• 9:52
  Speaker 1: not have changed it because I was able to Granted,
• 9:55
  Speaker 1: I wasn't making near like what I wanted to eventually make,
• 9:58
  Speaker 1: but I had a good stable income and I had
• 10:00
  Speaker 1: flipping experien experience, and so it was the perfect combination
• 10:04
  Speaker 1: to go to a small bank.
• 10:06
  Speaker 4: So if you were starting out today, would you be
• 10:08
  Speaker 4: able to do this? Is the Are the opportunities still there?
• 10:12
  Speaker 1: Yeah, it's a lot. And that's funny too. I talked
• 10:15
  Speaker 1: to mentors of mine. They are like and then Grant
• 10:16
  Speaker 1: Cardo owns got a TVD show where they just went
• 10:18
  Speaker 1: and dropped him in the middle of middle of some country.
• 10:21
  Speaker 2: You can build it again.
• 10:22
  Speaker 1: And I feel like, yeah, just knowing what I now know,
• 10:24
  Speaker 1: I've just spent so many years in masterminds learning from
• 10:28
  Speaker 1: other people and uh and just training and educating myself
• 10:31
  Speaker 1: and and and I'll give you another rich Dad port
• 10:33
  Speaker 1: Ad quote, Like I remember he talks about being a
• 10:36
  Speaker 1: door to door salesman, right, Like when I first read
• 10:38
  Speaker 1: that book, I'm like, man, I wish I would have done.
• 10:40
  Speaker 1: I don't know anything about sales, right, but now I've
• 10:43
  Speaker 1: had to sell and close to you like one of
• 10:45
  Speaker 1: my superpowers in my companies. I still am the closer
• 10:47
  Speaker 1: on the like high level deals in our company, and
• 10:49
  Speaker 1: I can come in and negotiate. And it's a skill
• 10:52
  Speaker 1: I didn't realize I had until I really tapped into it.
• 10:54
  Speaker 1: And I definitely wasn't tapping into engineer, which I'm quoting.
• 10:58
  Speaker 1: So so yeah, I feel like I had to start
• 11:00
  Speaker 1: or that's the other thing thinking back it, maybe I should.
• 11:02
  Speaker 1: If I could start it over trajectory would have been
• 11:04
  Speaker 1: much faster, right, But I took him for kind of
• 11:08
  Speaker 1: longer route to it.
• 11:09
  Speaker 4: So here's a question, do you think anybody could replicate
• 11:12
  Speaker 4: your success if if they're motivated.
• 11:15
  Speaker 2: I think so. I mean, I'm a I guess the
• 11:18
  Speaker 2: difference with me.
• 11:19
  Speaker 1: Is I just take action, Like like I'll go to
• 11:21
  Speaker 1: like I'm a part a lot of masterminds, and it's
• 11:23
  Speaker 1: a blessing and a curse, right, Like I go to
• 11:25
  Speaker 1: a two day mastermind and I'm learning, getting all these techniques,
• 11:29
  Speaker 1: getting all these best practices from other great people in
• 11:32
  Speaker 1: the industry, and I'm like, let's go apply that. And
• 11:34
  Speaker 1: I come back after the two days and I bring
• 11:36
  Speaker 1: it to my team and they'll on casey like and
• 11:39
  Speaker 1: we can't do all of this at once, but I'm like, no,
• 11:41
  Speaker 1: if we can, this is what we're going to implementence
• 11:42
  Speaker 1: in that. So, I've always taken massive action and been
• 11:47
  Speaker 1: willing to and I had a great w two income
• 11:48
  Speaker 1: that allowed me to take risks over the years to grow.
• 11:52
  Speaker 1: So yeah, maybe not to this point in this scale,
• 11:54
  Speaker 1: but I think anybody absolutely can go about and buy
• 11:57
  Speaker 1: their first rental property or start taking steps to giving
• 12:00
  Speaker 1: financial freedom.
• 12:01
  Speaker 4: One.
• 12:02
  Speaker 2: So, what's what's the worst deal you ever made? The
• 12:05
  Speaker 2: worst deal? Man?
• 12:08
  Speaker 1: We? Uh, we had a collection of them. I'll never
• 12:10
  Speaker 1: forget this. In I'm going to go with a combination answer.
• 12:13
  Speaker 1: So we were in Dallas Fort Worth and it was
• 12:15
  Speaker 1: around like twenty seventeen, and and we thought we we
• 12:18
  Speaker 1: thought we had it like we had we had we'd
• 12:20
  Speaker 1: been buying houses and fixing them up and refinancing them,
• 12:23
  Speaker 1: and then we would refinanced that we get our money
• 12:25
  Speaker 1: back and we'd put a tenant in there and we.
• 12:28
  Speaker 2: Just cash flow.
• 12:28
  Speaker 4: Right.
• 12:28
  Speaker 1: It's called the Burr strategy v R R r R right.
• 12:31
  Speaker 1: So we we did that on like four houses in
• 12:33
  Speaker 1: Fort Worth and like, man, we got this, and we
• 12:36
  Speaker 1: we did it with like one hundred thousand and just
• 12:38
  Speaker 1: kind of rolled the money and were like, all right, now,
• 12:40
  Speaker 1: let's go do a bunch of fix and flips to
• 12:41
  Speaker 1: feed our rental portfolio and then we could do more
• 12:45
  Speaker 1: of these, right.
• 12:45
  Speaker 2: But what we did is we didn't realize is.
• 12:48
  Speaker 1: We had a really good contractor and we were investing
• 12:50
  Speaker 1: at lower price points. So when we stepped into the
• 12:52
  Speaker 1: higher price points and started working with different contractors, we
• 12:56
  Speaker 1: just we struggled, right, and we saw a little bit
• 12:58
  Speaker 1: of seasonality and yeah, we just we got we got
• 13:01
  Speaker 1: into some deals where we didn't And the other thing
• 13:04
  Speaker 1: is we missed on some of our ARVs, like and
• 13:06
  Speaker 1: the grant of the markets fluctuated a little bit, but
• 13:09
  Speaker 1: the house didn't end up being worth as much as
• 13:12
  Speaker 1: we thought right in to this day, like when we underwrite,
• 13:15
  Speaker 1: that's what makes me underwrite so much more conservatively when
• 13:18
  Speaker 1: we're figuring out the value the exit value of the house. Right,
• 13:21
  Speaker 1: So we bought. We had like three or four deals
• 13:23
  Speaker 1: where we did the same thing.
• 13:25
  Speaker 4: You know.
• 13:25
  Speaker 1: Fortunately we sold them all, but we had to take
• 13:27
  Speaker 1: some significant losses to move them. And those are still
• 13:30
  Speaker 1: valuab wounds that I carried to today.
• 13:33
  Speaker 4: Well, it's so valuable learning experience, right absolutely.
• 13:37
  Speaker 1: Yeah. I always joke we uh yeah, I didn't get
• 13:40
  Speaker 1: an MBA, but I just yet we got it.
• 13:42
  Speaker 2: We got it from school hard knocks.
• 13:44
  Speaker 4: So, uh knowing what you know, now, what advice would
• 13:48
  Speaker 4: you give somebody assume in your masterminds you're mentoring people.
• 13:52
  Speaker 4: What's the biggest three takeaways that we could get from you?
• 13:57
  Speaker 1: Now? Yeah, I would say one of the biggest ones
• 13:59
  Speaker 1: is start early, especially when it comes to real estate. Right, Like,
• 14:03
  Speaker 1: I've actually I purchased a house. It's really funny. Last
• 14:07
  Speaker 1: night I was in bed actually with my second I
• 14:08
  Speaker 1: have four bule voice.
• 14:09
  Speaker 2: Right.
• 14:09
  Speaker 1: My first boy though, when he turned eight or nine,
• 14:12
  Speaker 1: I think it was eighth birthday, I ended up buying
• 14:14
  Speaker 1: him a house so he could start to buy it
• 14:16
  Speaker 1: and he could learn how to manage it, and ultimately
• 14:18
  Speaker 1: we start paying it down over time, right, because really,
• 14:20
  Speaker 1: stay over time, it's always gonna it's always going to succeed, right,
• 14:25
  Speaker 1: as long as you have as long as you look
• 14:26
  Speaker 1: over a long enough horizon, you should be fine. So
• 14:29
  Speaker 1: my second kid was asking about it, so that would
• 14:31
  Speaker 1: be one. It's like, start early, right. I bought my
• 14:34
  Speaker 1: first one in college. You could buy one for your kids.
• 14:36
  Speaker 1: Or if you haven't bought a single asset or done
• 14:38
  Speaker 1: anything in real estate, well you got to start somewhere.
• 14:40
  Speaker 1: And so my first advice would be start now, right.
• 14:44
  Speaker 1: Second thing would be start with somebody who knows what
• 14:46
  Speaker 1: they're doing, unless you're like me and you want to
• 14:48
  Speaker 1: just go figure it out yourself and you want to hustle,
• 14:50
  Speaker 1: and you want to work a two weeks job and
• 14:53
  Speaker 1: then when you're off on your off days, go hustle
• 14:55
  Speaker 1: just as hard. Some people are built like that, but
• 14:57
  Speaker 1: not everyone is. So I always recommend and like, go
• 15:00
  Speaker 1: find an operator a partner who who is doing deals right,
• 15:04
  Speaker 1: because go learn through them versus going through the school
• 15:08
  Speaker 1: hard knocks, right, go learn through them and do a deal, right.
• 15:11
  Speaker 1: So yeah, so get started, find a partner, right, And
• 15:16
  Speaker 1: then I think the other thing is just sort of
• 15:19
  Speaker 1: like being you know what, here's the other one, and
• 15:21
  Speaker 1: it's that that story that I just shared.
• 15:23
  Speaker 2: It's always have two exit strategies.
• 15:25
  Speaker 1: So, right, So if you're going to go try to
• 15:27
  Speaker 1: fix and flip a house, a lot of people will
• 15:29
  Speaker 1: do that, and fix and flipping can inherently be risky,
• 15:31
  Speaker 1: and I could also be very rewarding and you can.
• 15:33
  Speaker 2: Make big profits.
• 15:34
  Speaker 1: But what I've always done is I always make sure
• 15:37
  Speaker 1: almost done all our deals. I've always got two exit strategies.
• 15:40
  Speaker 1: So the first one is to flip it and sell
• 15:41
  Speaker 1: it often the second one is could we keep this
• 15:44
  Speaker 1: properties a rental?
• 15:45
  Speaker 2: Right?
• 15:46
  Speaker 1: And this is why I invest in Wyoming and the
• 15:48
  Speaker 1: markets like this are Montana, where I can still buy
• 15:51
  Speaker 1: properties that if I can't flip them, I can hold them.
• 15:54
  Speaker 1: Like right now, it's always a little bit slower. We're
• 15:56
  Speaker 1: talking today in December, right, It's always a little slower
• 15:59
  Speaker 1: in the winter time in Wyoming, And so what I'm
• 16:01
  Speaker 1: doing is I'm holding some of these properties is rentals
• 16:03
  Speaker 1: because right now they would I could either because here's
• 16:07
  Speaker 1: the other option is if you don't have another ease
• 16:09
  Speaker 1: of strategy, the only thing you can do is just
• 16:11
  Speaker 1: drop price, right, and then you're just cutting in your
• 16:13
  Speaker 1: profit and eventually taking losses on a flip. Right. So
• 16:16
  Speaker 1: what I do is if you can always buy and hold.
• 16:18
  Speaker 1: If you talk to so many people, they're always like,
• 16:21
  Speaker 1: they're always you talk to investors, they're always like, man,
• 16:23
  Speaker 1: I wish I wouldn't have sold all those properties right as.
• 16:25
  Speaker 2: They look at the value right. So my thing is
• 16:28
  Speaker 2: have to.
• 16:29
  Speaker 1: Exist strategies and yeah, and then just being a buy
• 16:31
  Speaker 1: and hold investor. I think it's one of the best
• 16:33
  Speaker 1: ways to It's a safe way to do it, and
• 16:35
  Speaker 1: you're not going to get rich quick, but you're going
• 16:36
  Speaker 1: to build wealth over long time, over a long period time.
• 16:39
  Speaker 4: All right, then, great story here, Casey, really appreciate what
• 16:42
  Speaker 4: you're coming on. I guess the best place to find
• 16:45
  Speaker 4: you is caseygregorson dot com and the link is in
• 16:49
  Speaker 4: the show notes to this interview on Financial Survival Network
• 16:53
  Speaker 4: dot com. And we only ask that when you go
• 16:55
  Speaker 4: there sign up for our free newsletter, like over sixty
• 16:59
  Speaker 4: thousand of other FSN community members have. And if you've
• 17:04
  Speaker 4: got a question for Casey or myself, shoot me an
• 17:07
  Speaker 4: email kl at Carrie LUTs dot com. Casey, you love
• 17:11
  Speaker 4: the story. Love to have you back on again when
• 17:13
  Speaker 4: you're available, and we'll talk with you soon.
• 17:16
  Speaker 2: Love to you. Thanks, Gerry, appreciate it.
• 17:18
  Speaker 3: Thanks for listening to Carrie Letz's Financial Survival Network, your
• 17:22
  Speaker 3: solution to today's trying times. For the latest, go to
• 17:26
  Speaker 3: Financial Survivalnetwork dot com. Financial Survival Network
• 17:31
  Speaker 2: Now more than ever,