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  • The Seller Said $0 Down, 0% Interest, 30 Years. Here’s the Exact Deal Structure.

    Most real estate investors think seller financing means offering a slightly below-market rate and hoping the seller bites. I thought that too, once.

    Then I did a deal. $0 down. 0% interest. $100,000 house. 30-year amortization at $278/month. The seller was relieved. Four years later, my tenants had paid down roughly $48,000 in principal, the property had climbed to about $180,000, and I was sitting on approximately $128,000 in equity I’d built without putting a single dollar into the down payment.

    Here’s exactly how I built that structure, step by step.

    Step 1: Look for a Capital Gains Problem, Not a “Motivated” Seller (Worth up to $38,000 to Them)

    “Motivated seller” tells me almost nothing useful. What I’m actually hunting for is someone sitting on a capital gains problem they haven’t solved.

    A seller who bought a house in 1989 for $40,000 and can sell it today for $200,000 is staring at a $160,000 capital gain. Cash them out in one transaction and they could owe the IRS $38,000 or more the year they close. That money is just gone.

    When I carry the note instead, they spread that gain across years of installment payments. Tax deferred. I’m not asking for a favor — I’m solving a $38,000 problem they didn’t know real estate could fix.

    Most agents will take the beautiful listing and move on. I’m willing to get into the muck with the ones who have complicated situations nobody else wants to touch. That’s where these deals live.

    My first question on every call isn’t “will you take seller financing?” It’s “how long have you owned it?” If the answer is 15 or more years and the property’s free-and-clear, I’m paying close attention. Where do I find these sellers? Estate sales. Landlords who bought pre-2010. Free-and-clear rentals with owners who are tired of managing tenants and terrified of a tax bill.

    Step 2: Propose the Note Structure Before You Negotiate Price (Lead With a Specific Number)

    Most investors negotiate the price first and then fumble through terms. My approach runs backward from that.

    I arrive with a specific note structure already written: $100,000 purchase price, $0 down, 0% interest, 30-year amortization, $278/month. That’s just $100,000 divided by 360 months. No mystery.

    Does 0% interest seem impossible? It isn’t, once you run the seller’s actual numbers. If their real goal is capital gains deferral, the interest rate is almost irrelevant to them. I’ve had sellers tell me they’d genuinely rather receive $278 a month for 30 years than hand $38,000 to the IRS by April. Some of them MEAN it.

    My strategy on that $100,000 deal was to place a tenant at $1,000/month. The rent serviced the note. My out-of-pocket for the acquisition: zero. My tenants built my equity position for four straight years while I owned the house.

    Step 3: Run the Dodd-Frank Payment Floor Before You Draft Anything (One Formula, No Exceptions)

    This is the step I watch investors skip, and it’s the one that turns clean deals into compliance problems.

    Dodd-Frank prohibits negative amortization on owner-occupied consumer loans. If your buyer is going to live in the property, the monthly principal and interest payment must be at least equal to the interest accruing on the note that month.

    The formula: note balance × annual interest rate ÷ 12.

    On a $180,000 note at 7%, my floor is $1,050/month. Set the payment below that and I’ve created negative amortization. That’s a violation. I run this number on every deal, every time, before my attorney drafts a single sentence.

    Standard 30-year amortization always clears the floor automatically. But if I’m writing a balloon note, an interest-only period, or any custom payment schedule, I need this number confirmed on paper first.

    Math! I know, not the most fun part. But this is the calculation that kills a seller’s confidence in you when you miss it at closing.

    The good news on 0% interest structures: there’s no interest accruing, so any positive payment clears the floor automatically. That’s one reason 0% notes can actually be cleaner to document than low-rate alternatives.

    Step 4: Set the First Payment to the Right Month (The Detail That Haunts You at Refinance)

    The first payment is due on the 1st of the month following a full calendar month after closing.

    Close September 15? First payment is November 1, not October 1. That full-month gap keeps the interest proration clean and removes the short-month calculation that creates headaches later. I know it sounds like a small detail. It won’t feel small when a title company catches it during a refinance two years from now and wants to know why your payment history doesn’t line up.

    Step 5: Put a Servicer on the Note From Day One ($25–$35/Month, Every Deal)

    I’ve never collected seller-financed payments directly, and I won’t start. A third-party loan servicer handles payment collection, maintains a full payment history, issues 1098 statements to both parties, and gives everyone a defensible paper trail if anything goes sideways.

    Cost: $25–$35/month, typically. On a deal where my tenant is paying $1,000/month to service the note, that’s less than 4% of gross income to protect the entire structure. My servicer has already saved me from two disputes I didn’t see coming.

    Want to work through real deals like this one with operators who’ve actually done them? Come to the Black Sheep Convention, September 25–26, 2026, at the Hilton San Antonio Hill Country.

    Twelve operators. Ten classes. Ten hours of Texas CE. Five class periods, two classes running simultaneously, so you pick your track. $399 all-access in person. $99 to attend live online. Real deals from operators in the trenches — the kind you can copy Monday morning.

    Register at blacksheepconvention.com

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • The Myths of Seller Financing Strategies: What You Need to Know

    Myth 1: Seller Financing Is Only for Buyers with Bad Credit

    You’ve probably heard this one a thousand times: “Seller financing is just a last resort for buyers who can’t get traditional loans.” This myth persists because it’s easy to pigeonhole seller financing as a “desperate measure.” But here’s the kicker — it’s not about credit; it’s about creativity!

    In reality, seller financing opens doors to a wider pool of buyers who may have solid income but prefer alternative financing options. Why? They can negotiate terms that fit their budget and the seller’s needs. A buyer who can secure a property for $0 down and 0% interest has no reason to choose a traditional bank loan. It’s a win-win situation!

    Myth 2: Seller Financing Is Too Complicated to Manage

    Another common belief is that seller financing is a bureaucratic nightmare. The thought of dealing with contracts, notes, and amortization schedules sends shivers down many investors’ spines. But let’s get real — it doesn’t have to be complicated!

    Seller financing can be straightforward. With a solid understanding of the terms, you can set up agreements that are easy to follow. Plus, there are plenty of resources available, including our hands-on training at the Black Sheep Convention, where we break down the complexities into manageable steps. Trust me, the math isn’t as scary as it sounds — it’s just numbers!

    Myth 3: You’ll Lose Control of the Property

    The myth holds that once you enter into a seller financing agreement, you’re essentially handing over control of your property. This myth persists because people fear losing their investment. But here’s the reality — as the seller, you retain significant control.

    In a seller financing scenario, you set the terms. Want a balloon payment in five years? Go for it! Prefer monthly payments over a longer term? That’s your call! You can even include clauses that allow you to reclaim the property if payments aren’t met. It’s all about structuring the deal to protect your interests while helping the buyer achieve their goals.

    Myth 4: Seller Financing Is Only for Short-Term Investments

    Another prevalent myth is that seller financing is only useful for short-term deals. Many think it’s a strategy that works best for flipping houses or quick sales. Wrong!

    Seller financing can be a fantastic long-term strategy. For example, consider a scenario where you sell a $100,000 property with 0% interest and a 30-year amortization. Your buyer pays $1,000 per month. After four years, your buyer has paid down nearly $48,000 in principal, and you still own a valuable asset generating income. If you think long-term, seller financing can lead to wealth accumulation that outpaces traditional methods!

    Myth 5: Seller Financing Is a Risky Proposition

    Ah, the old chestnut — seller financing is too risky! You might lose money, and the buyer could default. This myth thrives because it taps into the fear of losing your hard-earned cash. But here’s the truth: every investment carries risk, and seller financing can actually mitigate some of that risk.

    By vetting your buyers and structuring favorable terms, you can protect your investment. If done right, you create a solid cash flow stream while maintaining ownership of the property. Plus, in our Black Sheep Convention, we teach you how to assess buyers effectively, so you can minimize risk while maximizing profit.

    Conclusion

    Don’t let these myths hold you back from using seller financing strategies. It’s time to disrupt the status quo and embrace the creative financing techniques that can transform your real estate game. Join us at the Black Sheep Convention for hands-on training that cuts through the noise and gives you actionable strategies to implement NOW.

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • The Deal I Keep Showing People: $0 Down, 0% Interest, $128k in Equity

    Most investors hear “seller financing” and picture a desperate seller who couldn’t move the property any other way. I’ve watched that assumption kill six-figure deals for people sitting right across the table from me. I’m still watching it happen.

    Let me walk you through a structure I’ve used and taught. Picture this situation.

    A $100,000 house. A seller who bought it a long time ago for almost nothing. His capital gains problem is real, and he has zero interest in writing a check to the IRS the same year he closes. He doesn’t need the cash. He needs the gain spread out across time.

    The buyer has no $20,000 down payment, but has a tenant lined up, a property that pencils as a rental, and the willingness to think differently.

    I’ve sat at tables exactly like this one. The deal isn’t undoable. It’s unconventional. There’s a real difference between those two things.

    The structure we put on the table

    Seller carries the note. $0 down. 0% interest. 30-year amortization. Payments of $1,000 per month, starting the 1st of the month following a full calendar month after closing. I set it up this way every time — that one-month buffer keeps the payment math clean and eliminates any ambiguity about when interest begins accruing.

    The buyer places their tenant. Rent covers the monthly note payment. Every dollar hits principal because there’s nothing on the interest line. My favorite part of a 0% note is exactly this: $1,000 a month is $1,000 a month of actual paydown. Nothing bleeding off to interest.

    No bank. No credit committee. No underwriting drama.

    Why does a seller agree to 0%?

    I get this question every time I teach this. The 0% sounds like charity, so people assume our seller was either desperate or bad at math.

    He was neither.

    On an installment sale, the IRS taxes you in the year you receive each payment — not the year you sign the closing docs. Our seller spread his taxable gain across 30 years. At his bracket, that’s a meaningful number, not a rounding error. He wasn’t doing our buyer a favor. He was solving his own tax problem.

    The 0% was his premium for a structured exit over a taxable lump sum. Our buyer got a house with zero personal cash in the deal. I’ve seen this work because the right seller in the right tax situation doesn’t want the cash. He wants the outcome the cash creates.

    This is what seller financing strategies actually look like when they’re doing real work.

    Four years later

    Forty-eight payments. $1,000 each. $48,000 of principal paid down, with nothing lost to interest on any of it.

    Meanwhile, my conservative read on appreciation puts a house like this around $180,000 at the four-year mark.

    Where does our buyer stand? Roughly $128,000 in equity. Built with zero personal cash. Every dollar came from the tenant covering the monthly payment.

    I want to be straight with you: this is an illustrative composite. My point isn’t that you’ll hit these exact numbers. My point is that the structure is REAL, it’s legal, and it’s the kind of play most agents in our industry will never show their clients because they don’t understand it themselves.

    The investors I know who are building real wealth are doing it with structures like this one.

    The compliance piece my classes always cover

    On owner-occupied properties, any seller-financed note has a Dodd-Frank requirement you have to know cold. Your monthly payment must cover at least the interest accruing on the note that month. Go below that and you’ve got negative amortization on your hands. That’s a violation.

    My formula: note balance × interest rate ÷ 12. On a $180,000 note at 7%, my floor is $1,050 per month. A standard 30-year amortization schedule handles this automatically. But if you’re writing your own terms, run the math before you close.

    On our 0% note? There’s no interest. The floor is zero. This deal was actually the cleaner compliance case.

    Know this before closing. Not after.

    Three things I’d steal from this

    First, ask what problem the seller is actually trying to solve. Not what price they want. The problem. Capital gains, an inherited property they’ve never visited, a situation they can’t fully explain at the dinner table. Our structure falls directly out of their problem.

    Second, understand that 0% interest is a feature. To the right seller in the right tax position, it’s the entire reason they’re still at the table.

    Third, run my Dodd-Frank formula on every note before you close. Five minutes now saves a much longer conversation later.

    My team and I go deep on all of this at the Black Sheep Convention. September 25-26, 2026, Hilton San Antonio Hill Country. Ten hours of Texas CE. Twelve operators who do these deals for a living. No pitch fest, no back-of-room close, no five-figure mentorship upsell from the stage. $399 all-access in person. $99 to join us live online.

    This is the stuff we built our businesses on. Come learn it.

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • The Smartest Investors I Know Don’t Lose Sleep Over Mortgage Rates

    Every licensing class, every office meeting, every sales manager I’ve ever heard treats creative financing as the option of last resort. The investors who are actually closing in this market are using it first.

    I’ve watched agents park their pipeline for 18 months waiting for rates to normalize. Meanwhile, people in my network moved 12 deals last quarter on subject-to, owner financing, and wraparound mortgages. Not because conditions cooperated. Because they stopped caring about conditions.

    The 30-year fixed mortgage is less than 90 years old. Owner financing has been around as long as people have owned things. One of those tools is the newcomer. We just act like it’s the default.

    The Myth That Turns Creative Financing Into a Consolation Prize

    From every direction, the advice is to use creative financing when your buyer can’t qualify.

    That framing kills the tool before you even reach for it.

    The sellers I want to reach aren’t the ones who have to sell. They’re the ones who could wait me out for two years. A seller sitting on a paid-off property, or on a 3.5% note they’ve held since 2021, doesn’t need my buyer’s preapproval letter. They need a reason to say yes. Owner financing gives me something to bring to that listing appointment that nobody else on the MLS is carrying.

    Most agents wouldn’t know what to say if a seller asked about carrying the note. That gap is where my listings come from.

    How Creative Financing in Real Estate Works in This Market

    We’re in a stagflation-type environment right now. Our market has the same shape as the late 1970s: prices sticky, rates elevated, conventional volume on the floor. The operators who cleaned up during that stretch weren’t timing the Fed. They understood that terms are where deals get made.

    On a subject-to deal, our seller’s existing 3.5% note transfers with the deed. My buyer assumes the payments without formally assuming the loan. The seller gets equity out. My buyer gets into a property at a rate that doesn’t exist in the new-origination market.

    Does that require you to know what you’re doing? Yes. Does it require a new conventional loan? No.

    On a seller-financed deal, our seller becomes the lender. We negotiate the down payment, the rate, the amortization, and the balloon together at the table. If they own free and clear, there’s no bank in the room. The rate isn’t set by the Fed.

    A wraparound mortgage layers a new note on top of an existing one. Our seller keeps their original loan in place, carries back a larger note to my buyer, and collects the spread. It’s arithmetic, not alchemy.

    When the Conventional Advice Is Actually Right

    A conventional loan beats creative financing in plenty of situations, and I’ll name them.

    If my buyer has a clean profile, a solid down payment, and is buying something that will appraise at contract price, conventional is often the cleaner path. Fewer moving parts. Our title company knows the drill.

    If our seller needs full cash-out to fund their next move, a carry-back complicates their timeline. I’m not going to paper over that.

    Creative financing doesn’t fix every situation. Treating it as an emergency option is the mistake. Who do you bring it to? The seller who doesn’t HAVE to sell. That’s when it wins you a listing your competitors can’t touch.

    The Skill Gap Nobody Wants to Admit

    My agents at StepStone train on how to present these structures to sellers. We do it because most brokerages won’t touch the conversation. Their agents wouldn’t know what to say if an owner asked about carrying the note.

    When I walk into a listing appointment and say, “If you’re not in a hurry, I have three ways to structure this that don’t require my buyer to go to a bank,” I’m having a different conversation than every other agent on that street. That’s a listing I can win. That’s a deal my buyer can close.

    Our agents who can run that conversation are closing deals their peers are walking away from.

    Learn It in Person: Black Sheep Convention

    September 25-26, 2026. Hilton San Antonio Hill Country. Twelve operators who are actively doing this.

    Ten hours of Texas CE credit. Ten classes across five class periods, two rooms running at once, so you pick what fits where you are right now. $399 for full in-person access. $99 to attend live online.

    Nobody sells you a five-figure mentorship from the stage. We don’t do pitch-fests. We do real deal structure, real numbers, real conversations about what’s actually closing. Operators in the trenches, sharing work you can copy Monday morning.

    If you’re a Texas agent or investor who’s been holding creative financing at arm’s length because nobody’s walked you through it properly, come to San Antonio in September. You’ll leave with your CE hours and deal structures you can use the following week.

    Register at blacksheepconvention.com.

    The Rate Environment Isn’t the Variable You Think It Is

    Our market right now rewards the people who control the terms. The investors I know who are closing aren’t waiting for rates to drop. They’ve moved past that question entirely.

    Creative financing in real estate is the skill moving inventory in the market we actually have.

    Our agents know how to do it. Come learn it with us.

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • Forget What You’ve Heard: The Real Deal on Wholesaling in Texas

    The real estate world is riddled with clichés, and one of the biggest myths? That you need to have it all figured out before you start wholesaling. I’m here to tell you that’s total nonsense. Not only can this mindset cost you money, but it can also rob you of opportunities that are ripe for the taking, right now!

    Let’s break it down: conventional wisdom promotes the idea that you must have a pristine buyers list, polished marketing materials, and a fully fleshed-out strategy before you even think about wholesaling. But guess what? The truth is that the market rewards ACTION—not analysis paralysis.

    Why Waiting Can Cost You

    You might think that waiting to perfect your strategy will lead to better results, but in reality, it often leads to missed opportunities. In Texas, the market moves fast. By the time you’ve got your perfect plan in place, the best deals have already been snatched up by someone willing to act.

    Take it from someone who’s been in the trenches: I’ve seen agents and investors lose out on deals just because they were too busy perfecting their pitch. You want to know the real secret? Start building your buyers list FIRST—then back into acquisitions. This approach flips the conventional model on its head and puts you in the driver’s seat.

    The Myth of “Perfecting Your Pitch”

    Is it essential to have a solid pitch? Absolutely. But is it the end-all-be-all? Not even close. The real issue lies in spending too much time crafting the perfect presentation and not enough time getting your hands dirty.

    You need to be out there, making connections, and finding out what real buyers want. Trust me, the feedback from real conversations is worth more than any theoretical strategy you can conjure up.

    When Conventional Wisdom Works

    Now, let’s be real for a second. There are times when the old adage of “measure twice, cut once” holds true, especially when it comes to legalities and paperwork in wholesaling. You can’t skimp on due diligence—know your numbers, understand your contracts, and make sure you’re compliant.

    But don’t let those essential checks hold you back from moving forward. Those are merely boxes to tick off—not reasons to stall. The beauty of wholesaling is that you can learn as you go, adjusting your approach based on real-time data and buyer feedback.

    The Real Game: Building Your Buyers List

    The heart of wholesaling lies in knowing your buyers. Build that list and keep it updated. Focus on high-margin deals instead of chasing volume. This isn’t a numbers game; it’s about understanding your market and tailoring your efforts to meet the needs of your buyers.

    Want to know a killer strategy? Use social media platforms to connect with potential buyers. Start conversations, ask questions, and build relationships. You’ll find that a genuine connection can lead to lucrative deals.

    Get Out There and Take Action

    So, what’s the takeaway? Don’t get bogged down by the myths of wholesaling. It’s all about taking action, building your buyers list first, and learning as you go. The Black Sheep Convention isn’t just a place to learn; it’s where real operators are sharing what’s working RIGHT NOW in the Texas market.

    Join us on September 25-26, 2026, at the Hilton San Antonio Hill Country for hands-on training that you can put into action immediately. With 12 operators, 10 classes, and 10 hours of Texas CE, you’ll leave with the tools you need to crush it in wholesaling.

    All-access passes are just $399 in person or $99 to attend live online. Don’t wait for the “perfect” moment—grab your ticket now and get ready to jump into the action!

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • Why the Wholesaling Convention in Texas is Your Key to Real Estate Mastery

    The real estate industry is drowning in myths. One of the biggest? That wholesaling is a get-rich-quick scheme without hard work. Spoiler alert: that’s a lie! Wholesaling is about building relationships, understanding your market, and implementing solid systems. If you’re not focusing on these elements, you might as well throw your business card out the window!

    Here’s the reality: 2026 is the year to step up your wholesaling game. With the Black Sheep Convention happening on September 25-26 in San Antonio, you’ve got a golden opportunity to learn from the best in the business. We’re not talking fluff or sales pitches. This is hands-on, real-world training from operators who’ve been in the trenches, making deals happen and cashing checks!

    What You’ll Gain at the Black Sheep Convention

    1. Real Operators, Real Insights
      Forget the gurus with empty promises. This is a gathering of real operators sharing what’s working NOW in Texas markets. You’ll hear from 12 seasoned pros who have cracked the code on wholesaling. Their secrets? They’re not keeping them to themselves!

    2. Hands-On Training
      You’ll participate in 10 actionable classes that dive deep into the nitty-gritty of wholesaling. Think you know it all? Think again. We teach advanced strategies that focus on building your buyers list first, then targeting those high-margin deals. Why? Because it’s about quality over quantity, folks!

    3. Networking Like Never Before
      Want to connect with other like-minded rebels? This is your chance! Network with fellow agents and investors who are pushing the boundaries of what’s possible in real estate. Share ideas, swap stories, and build partnerships that could catapult your business forward.

    4. CE Hours That Matter
      You’ll earn 10 hours of Texas CE while gaining skills that you can implement starting Monday morning! No fluff—just actionable insights you can apply directly to your business.

    5. Affordable Access
      For just $399 for all-access in person or $99 live online, you get access to a treasure trove of knowledge. And if you’re a StepStone agent, you can snag your ticket for just $249! Bring your guests along too—they can also register at that discounted rate with a special invite link!

    Who Wins, Who Loses, and What You Should Do

    Here’s the kicker: the market is evolving, and those who cling to outdated methods are going to get left behind. The winners will be those who embrace creative financing and wholesaling techniques, and who invest in their education and networking.

    So, what’s your move? Get your ticket to the Black Sheep Convention NOW. While the rest of the industry dithers, you’ll be on the cutting edge of wholesaling, armed with the knowledge and connections to dominate your local market.

    Don’t let this opportunity pass you by. The Black Sheep Convention isn’t just another event; it’s a launching pad for your real estate career! Grab your ticket today, and let’s make some moves!

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • Real Estate Networking in Texas: An Insider’s Playbook

    Let’s get real. Networking in real estate isn’t just about schmoozing over drinks or collecting business cards. It’s about building genuine relationships that translate into deals, opportunities, and cold hard cash! I want to share a war story that highlights the power of solid networking in a Texas real estate deal.

    Picture This Deal

    Imagine you’re eyeing a distressed property in a vibrant neighborhood of Houston, one that’s been sitting on the market because it’s a hot mess. The owner is desperate to sell, and you’ve got a hunch this could be a goldmine. But here’s the kicker: you need to move fast, and you need a team behind you to make it happen.

    So, you head out to a local networking event focused on real estate investing. You know it’s not just about mingling; it’s about finding the right players to help you get this deal closed. You strike up a conversation with a contractor who’s known for flipping houses—let’s call him “Rico.” You share your vision for the property and ask Rico if he’s interested in working together. Bingo! You’ve just locked in a contractor who can give you a realistic estimate and ideas on maximizing your budget.

    The Numbers Game

    Now, let’s talk numbers. The property is listed at $200,000, and you believe with the right renovations, you could sell it for $350,000. But you can’t just throw cash at this; you need a solid plan. You and Rico discuss a renovation budget of $70,000. You’re now looking at:

    • Purchase Price: $200,000
    • Renovation Costs: $70,000
    • Projected Sale Price: $350,000
    • Total Investment: $270,000
    • Projected Profit: $80,000 (minus holding costs, of course)

    What Went Sideways

    Now let’s get to the juicy part—what went wrong. You thought you could DIY the marketing for the property, but your listing photos were a disaster. You had a friend snap some pics, but they didn’t showcase the property’s best features. After two weeks on the market with no bites, you realized your mistake.

    The Fix

    Instead of panicking, you called up another contact from that same networking event—a real estate photographer who specializes in listings. You quickly arranged for a professional shoot and revamped your online marketing campaign. In just one week, you had multiple showings lined up, and you closed the deal for $345,000.

    The Takeaway

    What’s the lesson here? Real estate networking in Texas is not just about who you know; it’s about who can help you execute your vision. You need to fill your toolbox with skilled people who can complement your strengths and cover your weaknesses.

    1. Build Genuine Relationships: Networking is about building trust. Be authentic and show interest in others’ work.
    2. Find Your Team: Whether it’s contractors, photographers, or fellow investors, surround yourself with people who have expertise you can leverage.
    3. Adapt and Overcome: If something goes sideways, don’t panic. Leverage your network to find solutions quickly.

    Join Us!

    Want to sharpen your networking skills? Join us at the Black Sheep Convention, happening on September 25-26, 2026, at the Hilton San Antonio Hill Country! With 12 operators, 10 classes, and 10 hours of Texas CE, this isn’t a sales-pitch fest. It’s hands-on training for both agents and investors who want to get real about making money in real estate.

    Register now for $399 all access in person or just $99 to attend live online. Don’t miss out on the chance to learn from the best and build your network!

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • How to Actually Build a Wholesaling Business in Texas (With the Numbers That Make or Break It)

    Most wholesalers start in the wrong order. The first bad deal teaches them that, and my job here is to save you that tuition.

    I’ve watched agents go through the panic-cycle four and five times: find a “motivated seller,” get the property under contract, spend three weeks texting every investor they know, hope something closes before the deadline. Most quit before they figure out what went wrong. The sequence was the problem.

    Here’s the buyer-first order we actually teach, with the real numbers at each stage.

    Step 1: Build 50 Real Buyers Before You Send Your First Mailer (4 Weeks, 16 Hours Total)

    My first question to any new wholesaler is always the same: how many people on your buyers list can close cash, right now, this week, with proof of funds?

    Not “someday” investors. Not “I have contacts.” Real buyers with a specific price range and a buy box they’ve actually described to you.

    Most people say 200 contacts. Then I ask how many of those closed a deal in the last 90 days. They usually name two.

    Two active buyers is a spreadsheet.

    My method for building a real one from scratch in Texas: pull every cash sale from your county appraisal district for the last 12 months. This is free, through TCAD in Austin, HCAD in Houston, DCAD in Dallas, or your county equivalent. Filter for non-owner-occupied purchases under $250,000. Every name and LLC on that list is a real cash buyer who just closed in your target market.

    Call 20 per week and ask what they’re buying right now and what minimum spread they need. Most won’t answer. The six or eight who do are your actual buyers list.

    Four weeks. Four hours a week. Do this before you spend a dollar on marketing.

    Going straight to mailers without a vetted buyer waiting on the other side kills Step 1. I’ve watched deals die this exact way. Live contract, 72-hour assignment window, no buyer ready to close.

    Step 2: Your Floor Is $10,000 Per Assignment (The Math on Why $3,500 Doesn’t Work)

    I’ve seen wholesalers celebrate a $3,500 assignment fee. I get it. First deal feels real.

    Here’s what it actually cost. Direct mail in Texas runs $500 to $700 per thousand pieces right now. Cold list response rates land at 0.5% to 1%. That’s 5 to 10 calls per thousand mailers. My close rate on those calls, working a consistent campaign, is around 1 in 20.

    My effective acquisition cost per closed deal, just on postage and printing: $500 to $700. Before skip-tracing. Before my time. Before the title company’s close fee.

    A $3,500 assignment fee against $600 to $800 in hard costs isn’t a margin. It’s a part-time wage for full-time hustle.

    My floor is $10,000. No exceptions. Three deals at $15,000 this year is a real business. Thirty deals at $2,000 is burnout before April.

    Chasing deal count instead of deal quality kills Step 2. Our whole model is high-margin, lower volume, real systems.

    Step 3: Target Owners Who Are Absentee AND Tax Delinquent (Response Rates Jump From 0.5% to 2.5%)

    A house with peeling paint isn’t a motivated seller. An owner who doesn’t live there and is three years behind on taxes has two simultaneous motivators. That’s a deal.

    Both records are public in Texas and both are free. Pull absentee owners from your county appraisal district, cross-reference against the county tax delinquent rolls, skip-trace the overlap.

    My skip-trace cost: $0.10 to $0.25 per record. A targeted list of 500 owners runs me $50 to $125. A $400 to $500 mail drop on top of that and my entire campaign is under $650.

    Response rates on that kind of list: 1.5% to 2.5%, versus 0.5% to 1% on a generic list from a data vendor. I’m getting 8 to 12 real calls instead of 5 to 10 cold ones, and those callers have actual reasons to talk.

    The mistake that kills Step 3: paying $400 for a list two of your competitors already mailed this quarter. Build your own from public records and your response rate will show the difference.

    Step 4: Run the Numbers From Your Buyer’s Side First (Save Yourself the Dead Deal)

    This is where I watch the most assignments collapse. The wholesaler signs at $160,000 thinking they got a great deal. The buyer runs their own numbers and passes.

    Here’s how I think through a deal before I sign. ARV minus rehab minus the buyer’s required profit margin minus my fee. In Texas right now, most buy-and-flip investors need 20% to 25% profit on ARV. That’s their underwriting model, not their preference. It doesn’t flex for me.

    Real example. ARV $250,000, rehab $40,000.

    • Buyer’s required profit at 20%: $50,000
    • Rehab: $40,000
    • My assignment fee: $15,000
    • Maximum they’ll pay: $145,000

    If I tied that property up at $155,000, I just ate my own fee trying to close a deal that wasn’t there.

    Before I sign anything, I get a contractor through the property. Thirty minutes of their time, no cost to me, and I have a real rehab number instead of an optimistic guess.

    Using your own gut estimate on rehab kills Step 4. Optimism is expensive when the assignment falls through.

    Step 5: Use an Assignable Contract and Budget $300-500 for Every Texas Title Close

    TREC forms weren’t designed for assignment structures. My contracts explicitly allow assignment, are written to my entity not my personal name, and disclose my fee in writing to all parties.

    Texas courts have shown no patience for undisclosed assignment fees. That’s not a gray area.

    Title companies across Texas close most assignments for $300 to $500. I build that into every deal calculation from the start.

    One thing I always say to our licensed agents: your disclosure obligations are different from a non-licensed investor’s. I’m a licensed Texas broker. My TREC obligations and my own broker rules both apply to how I structure and disclose these deals. Work within the rules, not around them. There’s plenty of money in this business without manufacturing risk.

    Using a generic purchase contract that doesn’t explicitly allow assignment, or structuring the deal so your fee isn’t visible to everyone at the table, kills Step 5.

    Where We Run All of This Live

    We go deep on wholesaling structure, deal math, and what’s actually closing in Texas markets at the Black Sheep Convention. September 25-26, 2026, Hilton San Antonio Hill Country.

    Ten classes. Twelve operators. Ten hours of Texas CE credit. No pitch from the stage. No back-of-room upsell.

    By operators I mean people who mailed last week, who have deals in contract right now, who can tell you what’s converting in their specific Texas market. Not a polished deck. Real numbers from real campaigns.

    All-access in person is $399. Live online is $99. Five class periods run two rooms simultaneously, so you pick the sessions that match where you are in the business.

    Black Sheep Convention tickets are on sale now.

    Get your ticket

  • Busting Myths at Texas’ Ultimate Creative Real Estate Event

    If you’re diving into the world of real estate investing, you’ve probably heard a lot of noise—some of it true, and a lot of it pure myth. At the Black Sheep Convention, we’re not just here to share insights; we’re here to dismantle those myths and give you the real deal on creative real estate strategies. Let’s roll up our sleeves and tackle the biggest misconceptions that are holding you back!

    Myth 1: You Need a Real Estate License to Invest

    This myth is as common as dirt. Many think that without a license, you can’t play in the big leagues of real estate. But let’s set the record straight: a license doesn’t just let you dabble; it expands your horizons! When your cash offer falls flat, having a license means you can list that property instead of walking away empty-handed. Remember, more tools in your toolbox mean more deals on the table!

    Myth 2: Wholesaling is Just a Get-Rich-Quick Scheme

    Wholesaling has a bad rap, often labeled as a scam or a way to make a quick buck without real effort. Here’s the truth: successful wholesalers are hard workers who know the ins and outs of their market. At the Black Sheep Convention, we teach you how to find the ‘total train wreck’ deals—those properties that others overlook. This isn’t about a quick flip; it’s about mastering the skill set that transforms dead transactions into closed deals with real profit.

    Myth 3: Creative Financing is Too Complicated

    Let’s be real—creative financing sounds complex, but it’s just a set of strategies that can make the impossible possible! Many are scared off by stories of complicated maneuvers, but the reality is that creative financing is about finding solutions when conventional methods fail. At our convention, we simplify these strategies into actionable steps. You’ll walk away with real techniques you can apply as soon as you get back to your desk!

    Myth 4: You Need a Ton of Cash to Get Started

    Ever heard this one? “You need a big bank account to invest in real estate.” This myth is a killer. You don’t need to be a millionaire to make a mark in real estate. With creative financing techniques, you can leverage other people’s money, negotiate deals, and structure transactions that don’t require a hefty down payment. At the Black Sheep Convention, we’ll teach you how to think outside the box and turn low-cost opportunities into profitable ventures!

    Myth 5: Networking is Just About Collecting Business Cards

    Do you think networking is a numbers game? Think again! Real networking is about building genuine relationships that lead to real opportunities. At the Black Sheep Convention, you’re not just trading business cards; you’re connecting with fellow rebels who are ready to share knowledge, resources, and maybe even partnerships. It’s about creating a community that supports each other in making real estate dreams a reality!

    Join Us at the Black Sheep Convention!

    Ready to break free from the myths and dive into the real world of creative real estate? Join us on September 25-26, 2026, at the Hilton San Antonio Hill Country for hands-on training that’ll reshape your approach to real estate investing. Whether you’re an agent or an investor, this isn’t just another seminar—it’s where real operators come together to share what works, without the fluff or sales pitches.

    Pricing: All-access in-person tickets are just $399, and you can attend live online for $99.

    Don’t miss out on this chance to transform your real estate game. Grab your spot now and get ready to hustle hard!

    Black Sheep Convention tickets are on sale now.

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  • The Deal Everyone Else Abandoned (And Why I Stayed at the Table)

    Picture a $280,000 house sitting in suburban San Antonio. Owner is three payments behind, foreclosure is closing in, and he is willing to take far less than market value to make it go away. That kind of motivated seller call normally pulls six interested buyers within 48 hours.

    Two agents looked at it and walked. An investor I know passed on it too. All in the same week.

    I stayed.

    The complications were real. A PACE solar lien on the property (the kind that transfers with the deed, not the seller). A deceased co-owner still on title with no probate filed and no affidavit of heirship anywhere in the public record. And a $43,000 IRS federal tax lien that didn’t surface until we ran the full title search.

    Three problems. Any one of them is enough to make most Texas real estate professionals call it a dead file and move on.

    I’ve spent years building the specific skill set that looks at that combination and sees a transaction.

    The Numbers on the Table

    The seller owed $198,000. Fair market value ran about $275,000 on a good day. For a conventional cash exit to make sense for us, we needed to come in under $205,000. With $43,000 in IRS debt riding on top, the seller’s net at that price would have been negative. He couldn’t pay off the lien. He couldn’t afford a steep discount. That’s exactly why the investor I mentioned walked away.

    The solar PACE lien had $18,000 remaining at 6.9% over 11 years, roughly $187 a month.

    The title issue was the messiest piece. The deceased co-owner had two adult children we couldn’t locate right away. Until they signed or went through probate, the title was unmarketable.

    On paper, this is a disaster. Three separate legal and financial landmines on one house.

    Why Creative Financing Changed the Math

    I called a real estate attorney I work with regularly. The heirship situation had a path. Texas allows muniment of title in simple estate cases, and with no debt owed by the deceased, this qualified. We’re talking eight to twelve weeks, not eight months. Expensive? Not compared to the spread we were looking at.

    The IRS lien turned out to be the most workable piece of the three. IRS subordinations exist precisely for situations like this one. When a deal is structured correctly and the IRS believes they’re recovering what they’d get through a forced sale, they will subordinate or accept a negotiated payoff. We went back and forth for three weeks and settled that $43,000 obligation for $31,200. It’s paperwork and patience and knowing the process.

    The solar lien we left in place. PACE liens in Texas are assumable, and the monthly payment can be factored into a subject-to purchase or wrapped into seller financing. The buyer we found was a landlord investor who wanted the property producing rental income. We structured a subject-to deal, the existing mortgage stayed in place, the PACE lien rode along with the new owner, and we collected our spread above the existing balance.

    There’s no due-on-sale police and no due-on-sale jail.

    What the Deal Actually Paid

    After the IRS settlement, the muniment of title legal costs, our time, and the subject-to closing, we cleared $34,400 on a deal three other people abandoned in the first 72 hours. The seller walked away with $9,800 in his pocket and $43,000 of federal tax debt forgiven. No foreclosure on his record. His neighbors didn’t know his business.

    Was it complicated? Absolutely. Did I earn every dollar? Yes, and so did the knowledge I brought into that room on day one.

    What You Can Actually Steal From This

    The agents who walked away weren’t lazy. They weren’t incompetent. They simply didn’t have the tools. Most Texas real estate education doesn’t touch PACE lien transfers, IRS subordinations, or muniment of title. Those aren’t rare exotic strategies for some insider class of investors. They’re repeatable plays in creative real estate that just don’t show up in standard CE coursework.

    Do you know how many deals in Texas die every month because nobody in the transaction knows these three things?

    That’s the exact gap I built Black Sheep Convention to close.

    If you want to work deals like the one above, you need to be in a room with operators who’ve actually closed them. A room where somebody walks through the real paperwork, the real negotiation timeline, and the real exit. That’s what we do at the best creative real estate event in Texas every year: real deals, real numbers, no pitch-fest, no back-of-the-room close.

    Black Sheep Convention is September 25-26, 2026 at the Hilton San Antonio Hill Country. Ten classes. Ten hours of Texas CE credit. Twelve operators who’ve done the kind of deals most agents still walk away from. All-access in-person tickets are $399. Live online is $99.

    The skill set that closed the deal above is teachable. You just need to be in the right room when someone who’s done it is doing the teaching.

    Black Sheep Convention tickets are on sale now.

    Get your ticket