"All right, hello and welcome back to another episode of the Collective Clicks podcast. This is your host Brandon Bateman, and today I'm joined by David Olds. David runs a virtual transaction coordinations company that closed over $14.7 million worth of wholesale assignment fees for their clients just in 2022 alone. He sees tons of transactions, knows a ton about dispositions, has run a successful wholesaling company and many service businesses for Real Estate Investors. Today we're going to talk all about transaction coordination, dispositions, where investors are getting it wrong, and how do you keep on doing that boring hardware that's going to get you to success. How are you doing today, David?"
"Doing amazing. Actually, really great. I missed our time a little bit. I showed up a little bit early, but luckily I realized that I was early and not late. Much better to be early than late. Doing amazing."
"That's fantastic. Yeah, I can see you're one of the first early podcast guests ever. That typically not the way it works in my office. I am like, 'Okay, I got three minutes to open the meeting, I need to go in there and turn on some lights and get online.' So it does not happen very often, but I'm glad we made it and we're gonna have a little bit of time to chat today."
"Yeah, and this is a little tangential, but have you always been that way? Like personally, I used to be one of the most punctual people. I would never be a minute late to anything. And then I got busy and was running the business, and then I started cramming stuff together, and then I became like the person who they're always waiting for 10 minutes after the meeting was supposed to start."
"Well, not that person, but I am the one-minute-before-it-starts guy. I've always been that way my entire life. You know, same like homework in high school, college. I wait till the last minute. Weirdly, you know, and maybe that's just an excuse that we make to convince ourselves that I'm much better under pressure. You know, I do my best work at the very last second. And it's weird because I would try to do papers like three weeks ahead of time, and you know, maybe I would work out the outline, but I was always better sitting down at 11 o'clock at night. I'm gonna have this done at seven."
"And the other plug you can use - have you ever seen the memes or graphics memes, whatever it is? Such an old guy on social media. Where it's like, you know, there are two people that marry each other in life: the one who's early and the one who continues to be later, the one who packs a week before the vacation or the one that packs 10 minutes before. I am that guy. My wife rides me out of her mind. She will be waiting, you know, I will go home and have like a seven o'clock dinner. I'll get home at like 6:10. She is sitting in the chair, full makeup, like everything ready to go, and I'm like, 'Well, take a shower, let's put dogs out, like it'll be fine, we'll get through them.' So I've always been that way."
"Yeah, that's funny. I think a lot of entrepreneurs are - there's something in their personality. And I'm super excited for today's episode just because, I mean, you and I have known each other for what, a year? Well, longer than that, I feel like."
"Yeah, maybe maybe as much as two years."
"And I've always looked up to what you were doing in your businesses. I think that there's a lot of - I guess very few people see as many transactions as you do, and because of that, not a lot of people have the same perspective that you have, right? And everybody kind of has their unique thing to add when they come on this podcast, and I'm excited for what you might add because I think you have a more - I'm personally a huge fan of data, right? I think the more exposure we have to more scenarios, the smarter we get. And there's a lot of people calling shots based on really small amounts of data, like 'I saw this once, therefore that's how it is,' right?"
"So I personally really enjoy talking to people that have seen it over and over and over again and have that experience to be able to know like what's an anomaly, what's normal, right?"
"And that's weird because I'm not like - I don't feel like I'm the data guy, you know. When it comes to Excel or Google Sheets, like the fact that I can get mine to add up or average - like I feel like I have two functions. All right, like I feel like we went and played basketball golf, and I had two shots that we used, and I'm done for the day. I'm like, I'm out. So I'm not like really great at it, but I am - I feel like I am pretty good at looking at the numbers out of the chart. Oh well, this - if this and this are true, then this is your problem. This is where that, you know, where the flaw is or where we find business. So, um, so yeah, I do love looking at the data in that sense."
"Well, I think maybe a better word than data is experience. Because I mean, our brains function on data, right? Every input that you've ever had, that's data to your brain. It doesn't have to exist in a spreadsheet. And our brains learn over time as long as we're not horribly irrational people. So anyway, I'm excited to jump into everything. I think an awesome place to start, for those listening that don't know you and what you do, if you could explain a little bit about your background, the businesses that you run."
"Yeah, just a very short version. I've been an investor for 20 years, and when I started in 2002, it just started as my wife buying our first house as a foreclosure in Ocala, Florida, Central Florida. And we wanted to fix it up, sold it, bought one, fixed it, sold it. But probably like every other person who's been on your podcast, I picked up Rich Dad Poor Dad."
"That led me - well, sure. I get the most cliché thing and I'm like, never guess."
"It's so funny. I still haven't read it myself. I've heard great things."
"You're the guy that hasn't read it. The one guy."
"I'm the one guy that hasn't read it. Well, but I didn't start in real estate. I started in digital marketing and then worked my way into real estate. So it's different, but sorry, you can continue with your start."
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