TNG I Survived Real Estate Legacy Series with Dyches Boddiford #719

The Norris Group’s Legacy Series is interviews with I Survived Real Estate Rohny Award winners. Next up in the 2020 series is real estate mentor and educator Dyches Boddiford. The Rohny Award is given every year to a real estate educator or mentor that has impacted the real estate investment market and many careers along the way.

Bruce and Dyches talk about strategies , how he began teaching and how his daughter is carving her own niche in real estate.

See below for full video and resources.

Episode Highlights

• • How did Dyches get started in real estate and teaching
  • What strategies is Dyches using now
  • Family in Real Estate
  • People who influenced him

Episode Notes:

Narrator 

This is the Norris Group’s real estate investor radio show the award winning show dedicated to thought leaders shaping the real estate industry and local experts revealing their insider tips to succeed in an ever changing real estate market hosted by author, investor and hard money lender, Bruce Norris.

Joey Romero  Hey everyone, Joey Romero back again with our I Survived Real Estate legacy series. The I Survived Real Estate legacy series is our series of interviews with Rohny award recipients. Rohny award is given out every year at I Survived Real Estate to an educator or mentor that has impacted the real estate investor market and individual investors along the way. Hope you enjoy.

Bruce Norris  Hi thank you for joining us. My name is Bruce Norris. Today our special guest is Dyches Boddiford. In 1981, a man named Jim Rohn taught a seminar that changed my entire life. A few years later, we created the Rohny award to honor investors and teachers who have changed the lives of people in our industry. Dyches Boddifford has been teaching people and changing their lives for a long time. And that’s why he received the Rohny award. And he’s been doing so for about 40 years. Dyches is a leading expert on how to hold property safely, and has written a series of courses on how to protect your assets. He also has been involved in purchase of mobile homes, notes, houses and apartments. His daughter, daughter, Dorsie has also been involved in the business she has her own flipping business for the last 10 years. So Dyches, we welcome you to our show.

Dyches Boddiford  Thank you, Bruce, glad to be here.

Bruce Norris  I’m just curious. Dorsie has she approached the business differently than you did, because of maybe just learning some things from you that you did, that you thought, you know, if you had in a different direction, or she’d been pretty independent?

Dyches Boddiford  Well, she’s been pretty independent in a lot of respects. But one of the things that I think she benefited from is the experience of other investors that she’s been introduced to, through me and through other investors as well. I think she’s learned a lot about what they did to grow their business. And she’s been able to efficiently grow her business in a lot of respects. Now, she has come along a little different than I have, but for various reasons. One of the things is that she got into private lending a lot sooner than I did after I started doing the real estate business. But she’s now a young mother, she had her first child back in January. And that’s really competing for her time right now, for sure.

Bruce Norris  When you say private lending is that because that’s for using for her own property flips, or she’s actually in the hard money loan business at this point,

Dyches Boddiford  Hard, hard money loans. She is able to do that by using a wrapping technique with some other investors, so that they hold a first mortgage, and she holds a second wrapped around their first so she protects them. She takes care of all the collections if there’s a foreclosure to be done. She handles that. Fortunately, we have very, very few of those. Because she also does all the due diligence up front for any loans that I make or any loans that she makes.

Bruce Norris  What’s great about her due diligence, she’s in the flipping business. So she’s I read that she’s pretty hands on even on her own job sites.

Dyches Boddiford  Right, right. And she is not hesitant about threatening foreclosure if we need to do a foreclosure because somebody has defaulted. Whereas a lot of lenders out there are hesitant about taking over the property, they just want to get paid the money, we add a 60 to 65% loan to value, don’t mind taking over the property. And actually, we may more we get paid for handling problems. So her experience with a rehab business over the last few years is really a benefit for because it doesn’t scare her to take over a property.

Bruce Norris  That’s right. It’s probably seen all the problems he’s going to encounter already so that it doesn’t bother and the least, you know, one of the things that you said is, is very true is when you teach investors, especially you guys in Florida, have a lot of very successful but repetitive clients. And I would imagine you’ve seen some things that you’ve watched and say wow, I didn’t know that would work as well as that it does for that guy. So you we learned from students, there’s no doubt about that.

Dyches Boddiford  Absolutely, absolutely. And then every now and then in a class student say, Well, here’s something I’ve been doing and what do you think? And you start to answer and you realize, well, you did you put a little twist on it there. And it’s something that I should look into more. And so that gives us the impetus to, to look at that technique, look at what they’re doing, and maybe even improve a little bit further on. Never know,

Bruce Norris  When you started. Well, first of all, did you have an influence of a teacher that said, this is this is kind of the way to do this business that was that? Did you have that in the beginning of your real estate career,

Dyches Boddiford  I kind of floundered around in the beginning of my career, because I didn’t pick a particular teacher to kind of follow. But along the way, Jack Miller had a lot of influence on what I’ve done, and all and he did a variety of things in real estate, which I chose to also do because I get bored doing one thing all the time. And Jimmy Napier with his invest in debt buying discounted cash flow stream, such as mortgages and notes. And of course, Peter Fortunato is a good friend of ours. Now yours and mine, Bruce. Pete’s always,

Bruce Norris  Yes.

Dyches Boddiford  A good one to listen to, and to hear stories that he tells about the deals that he’s doing even today. And he’s been in the business,

Bruce Norris  don’t know about you, but I have to hear it three times before it for I understand it.

Dyches Boddiford  That’s because he tells one third of the story each time, so you got to get the different pieces to put it together. Because he’s making a point, if he’s making a point on one topic, you’ll hear that part of the story. So I know it’s not bad.

Bruce Norris  Well, what’s interesting, too, it’s I, I think when you get when you start, there’s a certain thing that you get trained to do. And you think that’s the way it’s done. And so when I first got exposed to the business, that the deal was by for a discount for cash. So I mean, that’s been my model, my basically my entire life, certainly for the first 25 years of the business. And so to meet up with Pete Fortunato, that’s like, creating deals from thin air, you kind of go Oh, hi, I, it’s hard for me to comprehend that. Are you? Are you ever attracted more toward keeping or flipping which which was your preference?

Dyches Boddiford  Well, I recognized early on that flipping was just a business that if you go and get a house and fix it up and sell it, you’ve given away the goose that lays the golden eggs. Yeah, you may have money for the time being, but it’s really no different than going to work for somebody else. If you walk in front of the school bus ended up in hospital, you’re flipping business pretty much stopped right there. Whereas if you get rentals, you get small cash flow over a long period of time. And eventually That house is paid off. And now you have the all that equity that can be used to turn into cash or continue to invest. So that that is the way that I like to go is to both do long term investment rentals, and let the the property grow and produce the income and then there’s a large equity in the future. And also do the flipping property for immediate cash and for down payments for more rental properties. Okay, I think more on more than than not, the rental properties are the way to wealth, whereas the flipping is a way to put food on the table right now.

Bruce Norris Yeah, they are two different. Two different avenues. I joined the let’s keep houses party way later, if there’s one thing I would change in my career fair, I would have kept 10% of those homes that I flipped that that is that is a fact.

Dyches Boddiford I agree with you on that.

Bruce Norris  When in your career, I guess I wanted to ask if you’ve discovered a formula for having the least problematic rental properties. So what is the what is the type of inventory that you’ve landed on? And then I’m going to ask a couple questions even more definitive than that. So

Dyches Boddiford  Sure.

Bruce Norris  The difference say between owning an apartment versus a single family versus a mobile home.

Dyches Boddiford Right. Well, comparing apartments to single families, the tenants in an apartment never expect to own an apartment building or even the building that they’re living in. Whereas a single family house, a nice family. This is a single family house. They don’t, they don’t necessarily tell her by their renting. If people want to think that they’re homeowners, that’s fine with them. And they tend to take care of the property because they may want to buy that property and may want to buy another property in the future to live in. So I like the homeowner types that are going to bring their families and have a yard to play in and flower beds that they can keep up so that they feel like that is their home. And apartment dweller is not going to feel that way. And apartment dweller is usually more transient than families single family house because one of the one of the most expensive things you have is turnover with any rental property. Because you have to do the fix up, clean up and re advertise and re qualified people. So if you can get someone in the single family house to stay for 5, 7, 10, 12 years or more, that would be the objective that I will go for because I get that steady cash flow. And I don’t have that turnover. So I like the single family houses even to better than I like duplexes or triplexes simply because single family house, young family take will take care of it better than they will or they have other people on the same property.

Bruce Norris  If you have a renter that’s really have had long duration do you change the amount that you raise rents on an annual basis?

Dyches Boddiford  Absolutely keep the rents under market for those that stay a significant amount of time and take care of the property. When we’re looking at rent increases, which we do every year. I mean, we raise them every year, but we look at them every year. One of the considerations is how well are they taking care of the property? How long have they been there? Do they do do they fix the little minor things themselves? Are we always called when there’s a light bulb out or something on which we have to tell them that it’s their responsibility to put a light bulb in. So we would like good renters that take care of the property that send their checks in on time, pay their rent on time, and we don’t hear a lot from them.

Bruce Norris  Does the age of the inventory matter to you? How old the house is?

Dyches Boddiford  It does matter in the initial due diligence of deciding whether we’re gonna buy a property or not. We know that older homes have issues with saddling, and with older appliances, older air conditioners, older roofs, and so forth, all that has to be factored in. As opposed to a newer property, there’s only been built in the last five years, we’ll have less maintenance typically on that five year old property than we do on the older properties. Now, the newer property will most times command a higher rent. So it’s all a matter of analyzing doing due diligence period, as to do are we getting a price that offsets the fact we’re gonna have more maintenance? And what kind of renter is it going to attract compared to this other property that’s newer.

Bruce Norris  Florida is one of the things that’s new for me in Florida is that they’re scattered lots. So do you prefer a single family home and attract setting or scattered lot setting in the same question for a manufactured home?

Dyches Boddiford  Well, for a regular stick built home, it doesn’t matter to me if it’s in a subdivision or in individual watts within a city or suburb area. What I look at is what is the makeup of the neighborhood? The houses have meet around it are they mostly renters are mostly homeowners I rather have one, the house that’s in the middle of mostly homeowners because there’s pressure on any renter that I put into that house to maintain the art and keep it up. So they’re not being pointed to by neighbors as as not keeping up their property. The they really don’t matter where there’s a subdivision or just individual lots out there. So yeah, really, I really don’t put a lot of a lot of you know, restrictions on which I buy, now you asked about manufactured homes, which normally we’re talking about mobile homes, that’s kind of a slang term is used, even though mobile homes typically have not been built since the 1970s when the manufactured home, HUD rules came in right back. But everybody still calls MO Homes. I like mobile homes, particularly mobile homes on their own.

Bruce Norris  Exactly.

Dyches Boddiford  Or not in a mobile home park or manufactured housing park, I like the homes that are a little bit older, you know, 810 years old or out to maybe 20 or so years old. That’s kind of a sweet spot. And those houses will attract a good, a good type of tenant or buyer, you know, buy some of those homes and turn around and sell them on terms, which a lot of people that would live in those homes couldn’t afford to come up with the whole all the cash. And they’re hard. The homes are hard to get financed through the conventional lending lenders, institutions.

Bruce Norris  When you when you deal with a manufactured home, do you generally leave it in place? Or have you ever moved one on to a scattered lot?

Dyches Boddiford  Yeah, I have moved a couple. But I will tell you that if you want to cure the desire to move them just move a couple.

Bruce Norris  Got it.

Dyches Boddiford  And it’s it’s gotten to be pretty gone expensive, too. So I don’t like move in the mobile homes that economically it doesn’t really make a lot of sense as part of the deal, like a bomb in place on the lot. But that doesn’t mean I wouldn’t do it in the future. It’s just according to what makes the most sense in that particular situation.

Bruce Norris  you have a lot size that you stay away from? You prefer? What size lot?

Dyches Boddiford  Well, it depends on what is on that lot. Because if they need well and septic tanks, then you got you have a requirement for a larger lot, usually half acre three quarters of an acre lot in this area and I’m in the greater Atlanta area, North Georgia area. But if it’s served by a city, or county, water and sewer, then you can have a smaller lot down to about a quarter or two third of an acre lot. Those are also getting a little small, you’re getting close to your neighbors and it’s not as comfortable as that three quarters of an acre lot. So I do like a little bit larger lot size because I know the tenants or buyers would like a little more land around them.

Bruce Norris  Okay. Okay, let’s let’s shift gears.

Dyches Boddiford  True. That’s true of manufactured homes are SIBO homes.

Bruce Norris  Okay, same Do you have a size of home that you kind of stay with square footage in the ride?

Dyches Boddiford I like? Yeah, I like staying that we’re talking about a stick built home I like 1400 square feet, up to about 2200 square feet, I would go higher if the prices made sense. But that’s kind of a sweet spot three bedroom two baths. And if I will keep the property I’d rather have brick as opposed to siding painted side at the brick has lower maintenance for a longer period of time and looks better for a long period of time. The only the mobile homes, I will take whatever I can get if the price is right, even down to 500 square feet or so which is a pretty small home.

Bruce Norris  Yes.

Dyches Boddiford  But the sweet spot is probably the 800 to 1200 square foot range with the with mobile homes. But I’ve had larger than that I’ve had 2400 square foot homes, manufactured homes. And it’s just a matter of what the pricing condition is.

Bruce Norris  One last question about the type of inventory. Have you ever had a rental with a pool?

Dyches Boddiford  No, I have not had a rental with a pool. I have had my own personal residence with a pool for a number of years when my girls were younger. And I would not want a pool rental is just too much liability exposure.

Bruce Norris Okay.

Dyches Boddiford  Matter of fact, we feel right.

Bruce Norris  So now we can talk about. I’m sorry, I didn’t hear that.

Dyches Boddiford  I said we’ve filled in a couple of pools or rentals that we purchased in past.

Bruce Norris  Okay. When you when you advise people to hold title, there’s usually two circumstances there’s somebody starting from scratch. So I’d like you to create the ideal sequence of how you would you’d like them to hold title if they had if they had nothing to correct. And then I’d like to go in. Go ahead. Let’s do that one first.

Dyches Boddiford  Okay. Yeah, we start off with a newbie someone that’s just getting into real estate no matter whether you’re 27 years old or 60, something years old, I say learn about the real estate and about doing the deals, that’s the most important part, see if you really want to be a real estate investor. So you might buy those properties in your own name. But once you get up to three or four properties, you need to start thinking about your exposure in the marketplace, because your name is now starting to show up on multiple records that anyone can go to the courthouse and look up. And they can kind of guess what equities there are, see what kind of how big you are, what kind of target you might be, from a litigation standpoint. So we like to keep our profiles low. And so we use and we want the liability protection, so we use LLC, to own the properties. Now, you may have a collecting LLC that owns all this single member LLC is underneath, the single member LLC owns three or four or five properties, depending on how much equity is in each one. If they’re fully paid off, you may only have one property per LLC. And the and that’s the way that you should keep it because you got a lot of builders show the LLC, yet if it’s a single member LLC, it’s transparent for tax purposes. Now, as you get a little more sophisticated and learn how to do that, then you might want to add land trust to the mix, Land Trust or more sophisticated, advanced type of deed holding entity. And you you have to understand how the land trusts work yourself, because you’ll find very few attorneys there up speed on Land Trust. It’s not that hard. But it does take some effort to understand exactly what you should and shouldn’t be doing. But you can have a land trust in every state, it doesn’t have to be a state that has Land Trust law, because Land Trust is not in one of the seven or so states that have Land Trust, authorized, it comes on to contract law between the trustee and the guarantor.

Bruce Norris  So take me through I want my I want an escrow with my first property, I have the right to say who’s the buyer? Do you want the original buyer and I’m doing this to try to protect myself? I’m going to keep this one as a rental.

Dyches Boddiford  Right.

Bruce Norris  Do I put the original title in a land trust with an LLC as a beneficiary or the opposite?

Dyches Boddiford  No, you’re right the first time. Ideally, you would put the property into a land trust. And by the way, try to to make that decision before escrow because the settlement agents like to see whoever they’re, the actual buyer is going to be on the contract because anything else is additional steps to make sure the seller is okay with who the buyer is going to be if it gets assigned. And you don’t want to deal with all that. So whatever name you’re gonna use for the Land Trust really should be the one on the contract doesn’t have to be but it saves some hassle. So you move the property during the settlement and closing to the Land Trust the beneficiary the Land Trust is a single member LLC, which is then owned by either you or if you’ve got a lot of property that collection master LLC I talked about would own the benefit of the own the interest in the single member LLC, which owns the beneficiary interest in the Land Trust, which owns the property.

Bruce Norris  And you have a course that teaches this I know you do.

Dyches Boddiford  I do I do. The biggest problem I find Bruce is that some beginning investors still don’t have the property or only have one property wants to set up a big convoluted structure that would work great farm if they have 20 or 30 properties. But it’s overkill and a lot of a lot of paperwork and time to keep up for just having one or two three properties. So should grow. You should grow your structure as you grow your portfolio. And don’t get don’t make things more complicated until there’s a justification for doing that.

Bruce Norris  So somebody comes with to you and that’s sort of like the first, first thing the first time they’ve ever heard about protecting themselves, but they own the dozen properties already. They have them all in their name. So what would be the sequence that you would suggest for somebody like that?

Dyches Boddiford  Well, I’d sit down and talk to them about what their level of paranoia is. The houses that are in their name is gonna have their name and the courthouse records in the chain of title even if they move them into an LLC or a Land Trust. Now the good part is by moving the Land Trust now, if there’s a liability that occurred yesterday or before, that would come after that could come to bite them the investor directly, but after they put it into an LLC, that liability shield LLC helps protect them from going going into the future.

Bruce Norris  Okay. Liability insurance, Are you, do you rely on that a lot for protection?

Dyches Boddiford  I understand that since I’ve been in this business and I started in 1980. The the exceptions page on insurance policies has grown longer, and the type has gotten smaller. In other words, there’s more exceptions to insurance now than there ever has been before. Which means that the insurance company is avoiding a lot of claims that they feel or that they shouldn’t be paying on in relation to the premium they’re collecting. So I still think that the best attorneys in the US are retained by the insurance companies. And so therefore, I want to buy some of that expertise by buying liability insurance, on my my properties. And if I have a problem come up, and I turn it over to them to work out and they say, Well, this is a claim that we don’t cover. Now I’ve got the liability shield the LLC to fall back home.

Bruce Norris  Okay.

Dyches Boddiford  And even if I’m buying just regular homeowners dwelling or not homeowner but dwelling insurance for a rental property that I’ve got, I don’t have the the liability as a component that an insurance policy. And if I get up to 20 or 25 rentals, that’s about the time that we all think about self insuring. And yeah, you can save a good bit of money self insuring, but don’t ever, ever, ever self insure for liability, because liability can be way more than the cost of the house.

Bruce Norris  Yes. Now you said are you talking about when you say self insure you’re talking about for the fire portion of it, that type of thing?

Dyches Boddiford  For the fire the hazard portion of it.

Bruce Norris  Okay.

Dyches Boddiford  Some investors feel like that. If they can save those premiums for three or four years, I could build another house. And that just has to do what the expenses are for the houses you already have.

Bruce Norris  Okay. You know, coming from California, I’ll tell you something that just is pretty amazing. Earthquakes are the thing in California. And, earthquake policy on the residence that I lived. When I live in California, my residents had earthquake insurance at a quarter million dollar deductible, and the cost of the policy was $230 a year. So I was a little surprised when it came to Florida. And Florida has policies that have a maximum 2% loss. And they cost about I don’t know 400 bucks. And I’m just I was just surprised.

Dyches Boddiford  It depends on where you are. In Florida, you probably already have some sinkhole coverage as well.

Bruce Norris  That’s not an exception.

Dyches Boddiford  And you wouldn’t have that in California.

Bruce Norris  No.

Dyches Boddiford  Well, it is for a lot of policies, but they are policies that still cover sinkhole.

Bruce Norris  Okay. I gather you’ve you’re pretty you’re pretty familiar with the guy that writes your insurance policies?

Dyches Boddiford  Well, I tell you, every investor should have a good knowledge of property insurance. For instance, one, one aspect that I find is a lot of times misunderstood is what’s called coinsurance when you have a policy, the it should be a replacement policy. And the replacement policy means that if you lose the, let’s say, what if you lose a whole house that the insurance company would build back the house or provide the money for you to build back the house. So you want to always make sure that the value of the policy the coverage is at least 80% or more of the actual cost that it would take to replace the house. And if you let it drop below that 80% and you have a loss, the insurance company can come in and re evaluate everything and say, Hey, you know you were supposed to have you should have had $100,000 coverage here just as an example. And you have only 70,000 the coverage? Well, if they did that, what the you have to do is first pay your deductible. And then after the deductible, the insurance company would pay 70 cents of each dollar for rebuilding the house, and you would have to come out of pocket 30 cents. However, if you hadn’t had insurance ensure that house for at least 80% In other words, $80,000, then the insurance company would after your deductible, after you paid your deductible insurance company would pay dollar for dollar, everything it takes to rebuild that house.

Bruce Norris  Okay.

Dyches Boddiford  Something simple, but I find very few investors know that.

Bruce Norris  No, I think you’re right. I think most least most people try to save money on their insurance as a hard money lender, you know, we get policies all the time when we know darn well, property’s going to be vacant, somebody tries to pass off a rental policy as insurance.

Dyches Boddiford  Yeah, exactly. And talking about hard money lending, you know, we we won’t rebuild price the house to be insured. And the borrower typically only wants to insure the amount of the loan? Well think about it, if we got a 50% loan to value ratio, which is a good loan to value ratio, and as $100,000 house and they’re only insuring 50,000. And then there’s a total loss, for whatever reason one of your fires comes through and gets it, then the insurance company is going to say, well, it’s a coinsurance situation, you pay 50 cents of every dollar you rebuild cost. And as I think that’s the house that the investors gonna walk away from, and you don’t want that if you’re a hard money lender, you want to make sure you’re covered.

Bruce Norris  Right? You want an incentive there to get to the finish line. Absolutely. Yeah. We’re just about out of time, I wanted to ask you about how you got into teaching. And I know that’s a passion of yours. But well, not everybody that knows what to do wants to teach a lot of people that don’t know what to do want to teach. And you’re one of the rare people that no one know what to do, and love to teach.

Dyches Boddiford  Well, I had worked for about 11 years with the real estate before I decided to teach and what was happening was I was a President of local real estate group. And people knew that I was doing these different things. And they call up and spend an hour or so on the phone talking to him a couple of times a week or month explaining to them what they need to do if they want to do the same thing. So I started teaching some little classes in the local area. And I just kind of grew, one of the national guys saw me and asked me to come teach in one of his weekend classes. And I did that. And it just kind of grew from there. It was a it was a sideline for quite a number of years. And it still is pretty much a sideline. For me now I don’t go around the country speaking. People come to Atlanta right now we’re doing a we’re doing some of these zoom meetings, for information. But the reason I got into teaching was not only people asking me questions, is I have a need to learn in depth, anything that I’m doing. And so by researching things, excuse to pay that for that three, or $400 law book or whatever was the, you know, teach somebody else, the same thing. And if you ever want to learn anything, teach it. Because teaching you realize that you’ve got to know more than just doing it yourself, you got to know the nuances, because people face a lot of different situations trying to do the same thing.

Bruce Norris  You know, what it’s interesting about what you said is that a lot of speakers do not like Q&A sessions after because they’ve said 100% of what they knew when they talk, right, and someone like you or me love Q&A, because we’ve got to tell 10% of what we know, because of the timeframe. And that makes it even more fun. You know, when you start batting around in front of people real, real circumstances, then you also know that it comes to fruition, what you’re saying is that it really helps to know much more than what you’ve just said.

Dyches Boddiford  Right, right. Yeah, one of the things that struck me early on was Jack Miller and Pete Fortunato and Jimmy Napier would have helped days, our evenings, where for four or five hours, they just sat up on a stool in front of the room and people asked him questions. And never never wasn’t agenda didn’t say you’re restricted asking questions on just this or that. They could ask anything. And those guys would say, well, that’s an area I haven’t gotten into. So I can’t answer that. They say, Okay, here’s what I did. Or here’s what, here’s what I’ve seen others do. And just answer the questions. And that was always impressive to me.

Bruce Norris  Yeah, that’s a very nice thing to do to. When people, when people talk to you, and say they’re a customer, or they’re selling their house, whatever, what they probably don’t realize is you’ve probably had 1000 conversations or more about the subject. And if your hearts in the right place, it’s really smart to talk to somebody like yourself, that has experienced because you’re not gonna you’re not gonna learn on your own. But that quickly, but if you have if you have a problem situation, and talk to somebody like you saying, Pete Fortunato it, who wouldn’t want to sit down with Pete Fortunato and say, here’s my problem, and have the guy throw 10 solutions at it. And by the way, you’re who he recommended to me about title. So everybody has their expertise. And you’ve gone over and above and understood that niche of the business, which most investors really don’t. And is, you know, you can sit in front of three attorneys and get three completely different scenarios on what to do.

Dyches Boddiford  Oh, absolutely, yes.

Bruce Norris  And so you just go, wow. And so you’re, you’re not an attorney, but you’re, you’re a practitioner of the business. And you kind of got to the bottom of this, of this subject that most of us don’t tackle.

Dyches Boddiford  Well, is, you know, I tell people, you know, in 40 years, I must have done something right. To get where I am. So ask me, I’ll tell you about my, my mistakes that I made along the way and how I corrected them. And that’s education to save you from your mistakes and have at it.

Bruce Norris  That’s Yeah, that’s great advice. Thanks. What’s your what’s your website, so people that follow us can take a look at what you’ve got to offer, I’d appreciate that.

Dyches Boddiford  All right, my website is assets101.com is A S S E T S and the digits 101.com. And there you’ll find at home study courses, and list have any code any live or online courses have planned to teach over the next 12 months. And if you don’t see something, there doesn’t mean that I’m not going to teach something over the next 12 months. It’s just we haven’t decided what we’re going to do next. And there’s a little free newsletter they can sign up for to only send out a newsletter when I really have something to say so we’re not gonna spam you with a whole lot of emails, you get one a month or maybe a couple at the most.

Bruce Norris  All right, Dyches.

Dyches Boddiford  Again that’s assets101.com.

Bruce Norris  Okay. Thanks. Thanks so much for taking time to join us today. And congratulations on the Rohny Award. Because to me, that’s the that’s the Academy Award of our industry because there’s a lot of pieces of it and mostly a spotless reputation. So that speaks.

Dyches Boddiford  That was a big that was a big award for me, I appreciate it and hope everybody listens to the other winners of that award because I’m very proud of the group that I’m a member of now.

Bruce Norris  It used that’s, that’s exactly right. Every one of those gentlemen are the same caliber of person. So that’s, that’s what that award kind of signifies to me. So, Alright, Dyches. You have a great day and we’ll talk to you soon.

Dyches Boddiford  Thank you, Bruce.

Bruce Norris  Okay, bye bye.

Dyches Boddiford  Bye.

Narrator  For more information on hard money, loans and upcoming events with The Norris Group, check out thenorrisgroup.com. For information on passive investing with trust deeds, visit tngtrustdeeds.com.

Aaron Norris  The Norris Group originates and services loans in California and Florida under California DRE license 01219911. Florida mortgage lender license 1577 and NMLS license 1623669. For more information on hard money lending go to thenorrisgroup.com and click the hard money tab.