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Welcome to show. We\'ll talk a little about lending and defaults right now I actually posted that put an email out yesterday were chat with a private lender last week 4 out of their 30 loans are performing meaning 26 or non performing and when I posted that on Facebook I haven\'t read all the email responses yet but when I posted on Facebook the fascinating thing is how many people said oh those guys know what they\'re doing like there\'s no way that\'s impossible and I\'m like you know that you really don\'t know what you\'re talking about yeah like these guys don\'t know what they\'re doing I thought that was hilarious yeah yeah they don\'t know what you always he\'s just doing it to you know increase the drama might not just do that with the with the truck names I don\'t really do that with the real estate stuff but anyway so no couple people are non believers out there so we\'re gonna talk about defaulted loans and the market place and. I\'m gonna start the show off with this. If you\'ve got a a deal you\'ve done you\'ve let someone some money and they\'re not able to pay you back. Give us a call would like take a look at that deal maybe we buy the note we help you through the foreclosure process just to reach out to us so we can we can help you but I don\'t I think people are greatly discounting how much real estate investors are hurting right now sure now this sounds weird because I come on the show every day and say bye bye bye it\'s great times great times great time it\'s a great time provided. You get properties rehab and attendance at him or you get properties we have any sold and I think there were a handful of investors out there that were doing great before cove it and in a covert world it\'s kind of turned into a mess right and and full disclosure from me I suffered at the end of Harvey yes right I took some big hits were still got some some some things are being paid back in structured at all and talk to partners and some partners just brand to the ills of left me holding the bag but I\'ve made efforts got another flip coming up right so I understand exactly how it happens and I know from experience how it happens and part of the problem is that we\'re having now. What is the take out financing yes right which wasn\'t a problem Harmon problem Harvey is everything lost 50 percent value yeah at least in the in the short term right and I\'m fine just now selling 2 houses that I had from Harvey yeah those are typically the higher end homes yeah it was it was at the lower end stuff that all was just fine factors a tailor to Harvey properties I\'ve got my property in west Houston you\'ve got a couple yeah flips the one in west Houston has almost doubled in value where is right the ones you\'ll getting hit are still taking a loss right so it\'s when people say. O. J. symbol this is what happens in a market place I\'m like no that\'s not true because you got different price points you have different sides of town all that sort of stuff so I I do want to go there because I don\'t want you to feel like Hey we\'re just picking up people right it\'s it\'s as close to home is as if anything else I took 0.$25000000 loss in the house in Harvey Corder railed where water 50 G. so you\'ll have the same problems and everyone else\'s were not perfect but what we\'re seeing out there. What is the take out financing problem yes so a lot of the guys including us have done a lot of properties with hard money or private lenders and then we the expectation is to roll them into 5102030 year mortgages in and when that all went away during the initial parts of covert Rohingya we joke around these there\'s a hard the the not you I\'m guys we\'re here for you we\'ve been here for you except where we didn\'t pick up the phone for 6 weeks right yeah. Learn More For more information visit mrtxre.com (Copyright Mr. Texas Real Estate)