Lessons From Auction Mistakes with Tommy Loretz | Episode 37

The David Greene Show

David Greene

Entrepreneurship, Business

5 • 653 Ratings

🗓️ 13 February 2025

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the David Greene Show, host David Greene and guest Tommy Loretz discuss the challenges and lessons learned from real estate auctions, particularly focusing on nightmare deals. Tommy shares his experiences with multiple properties he acquired through auctions, detailing the unexpected issues he faced, including miscommunication about property parcels, flooding, squatters, and properties that had been demolished. The conversation emphasizes the importance of thorough research, understanding the auction process, and learning from mistakes in real estate investing. Podcast-The David Greene Show Spotify, Apple Podcasts Book a session with David: [email protected] Ask a Question: DavidGreene24.com/ask Find me on the “minnect” app Real Estate University: SpartanLeague.com Join my Free Newsletter: Davidgreene24.com/textletter Finance Your Real Estate TheOneBrokerage.com Intake@TheOneBrokerage @theonebrokerage Free Textletter DavidGreene24.com/join STR Management [email protected] Investor Retreat DavidGreene24.com/retreat Subscribe to The David Greene Show! Apple: https://podcasts.apple.com/us/podcast/the-david-greene-show/id1755485708 Spotify: https://open.spotify.com/show/5Nu6kCJTVzM2x2WsujqBOZ Submit your question for David: https://davidgreene24.com/ask Chapters 00:00 Introduction to Real Estate Investing 02:06 Nightmare Deals: The Cleveland Garage Incident 21:00 Lessons from Multiple Auction Properties

Transcript

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0:00.0	Welcome to Real Talk Real Estate, the show where we cover how to build wealth in real estate with no fluff, no BS, and no sales pitches.
0:07.1	I'm David Green, and I've been doing this for over 10 years. I've seen the ups, the downs, and everything in between.
0:12.8	This is the show where we pull back the curtain and show it to you too. So if you want to build wealth through real estate or you just love learning about it you found your home what's up everybody
0:21.5	welcome to the david green show real talk real estate the show where we pull back the curtain and
0:26.0	share the good the bad and the ugly of what goes on in the world of real estate investing business
0:32.1	and frankly just life i've got a real estate portfolio i've got real estate estate businesses. I'm a licensed broker. I have a
0:39.0	mortgage company and I own properties all across the country. So I see it from every angle. And I can
0:44.7	assure you that a lot of the content that you hear on other shows is not giving you the whole story.
0:49.5	Today we are continuing in our series on nightmare deals where I am joined by Tommy Loretz, who's going to
0:54.8	share about some deals that he bought at a state and had issues pop up that he was not expecting,
0:59.7	that he was not prepared for, and he had not been warned about so we can help you avoid
1:03.7	the same mistakes. If you're not already subscribed to the channel, please make sure that you
1:08.6	subscribe on YouTube as well as Spotify or Apple Podcasts,
1:12.3	wherever you listen to shows and leave us a five-star review if you like this free content.
1:17.0	Tommy, welcome to the show. Thanks, David. Happy to be here. Yes, I just saw you the other day.
1:22.9	So we were at a David Green Team meetup in Walnut Creek and we got to talk a little bit. What did you think about
1:28.2	the meetup? It was great. I mean, it's it's awesome to you have events like that so close to home
1:34.6	makes it a lot easier to get out there. Yep. Tommy is a licensed broker in California and he's going
1:40.4	to be working in the future with a brokerage that I'm in the process of launching
1:44.7	coast-to-coast real estate.
1:45.8	So if you are a real estate agent who is listening to this or a broker anywhere in the country
1:50.6	and you would like a different place to hang your license where you'll get better training,
	...

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