hello Welcome Back to Basics I am your host jam damji and I have with me the
always more popular than me how you doing Landry pretty good how
about you Jamal good you’re wearing a hoodie um I am I’m freezing I like don’t
but then I’m so hot at night so I just want to leave my thermostat you know the way it is but I’m cold it is uh I’m in
Canada right now at an Airbnb and it is cold here what’s uh the temp right now um I
it’s snowing right now um I would I love it I’d probably say uh hold on let me
see it’s not too bad here right now it’s like 58 but at night time it’s been like 20 like it’s down to 30 yeah it’s
negative one Celsius um so what is that Fahrenheit that is 30 degrees okay yep
yep that’s cold that’s freezing for me so freezing freezing but you know super
fun I’m I actually run hot all the time so being um you know being in a a cooler
environment it’s it’s actually enjoyable to me so I’m I’m I’m pretty uh pretty happy about it love it yeah nice and
refreshing cool well I’m excited for today’s episode it’s kind of fun to that
we have this episode kind of back to back you know how normally you know if anybody’s new to the show with with jam
and my myself we usually do every other week but you know back toback because the holidays and everything and yeah
it’s nice to be back on here I’m excited for today’s episode likewise and for those of you that are not aware of what
the show is because you’re new uh batch the basics is a show that we do every
other week where we get into the basics of wholesale right so uh last week we we
were working with um uh looking at some leads we called some sellers it was really fun um
it was uh uh it’s always really uh my favorite thing to get on the phone and start talking to people but uh today
we’re looking at the other side of the transaction right so we all know that you can get as many contracts uh as you
want but if you don’t have a buyer for those contracts you are going to be dead in the water you’re going to cancel
you’re going to have you know angry real estate agents you’re gonna have Angry sellers at you none of that is fun so
today we are going to dive into finding buyers and it’s always very important that you pay attention to your list
because let me say this uh real estate is an interesting game that is constantly revolving and just as people
come in and out of the wholesale business people go in and out of flipping and I have met people who have
built a wholesale operation where they rely on three to five buyers at most and
I can tell you that’s one of the most dangerous places to be in because if you have just a small handful of buyers well
what’s going to happen if one of them Chang their business business model or say they move or go through a divorce and now they have no money so there’s
all kinds of things that happen in people’s world where they get ejected
out of the real estate business and so you want to be replenishing your list constantly and so today we’re going to
go into looking at how you can use batch leads to do that uh and they are an
incredible tool and resource for you to be able to find buyers and not only are we going to be looking at Fix and Flip
buyers but we’re going to go into the different types of buyers there are now
before we get into that I wanted to say that every week we give away an incentive for people who are not using
batch but would like to and so uh as a incentive for anybody who is interested
in joining the batch platform we will be giving away a referral to a killer title
company I I gotta say to this guys right now my relationship with my title company saves me on average okay on
average on a year-to-year basis and at least $3 to $400,000 in fees in addition
to that I get EX I get marketing budgets from my um title company as well and So
currently I’m receiving anywhere between five to $8,000 a month in marketing help
for me to be able to it’s incredible right it’s an incredible relationship and so it’s really important that you
guys have a relationship with a good title company I’m willing to give up one of my most trusted
uh what referrals vendors uh I’m going to give you a hand introduction a handmade introduction to uh Dena Jones
from Fidelity National Title and she’ll be able to put you in touch with an escro officer in your state that is hip
to wholesale deals creative Finance deals and can help you move along in
your business so if you are not yet a user of batch leads there is a link in
the chat you go to batch leads. Jam use the code Basics that’s b a s i CS Basics
at checkout and you’re going to get 50% off your first month but in addition to that we will make a referral to you to
the incredible Dena Jones now as well I just wanted to know where all of you are
joining us from so if you could leave us a comment in the chat and tell us what city and state you are working in I it’s
always really fun to see where people are tuning in from so let us know where you where you are tuning in from um
Natasha if you can put the adventures of Keith’s question on the uh screen I
would appreciate it thank you so uh the question is why is batch better than
prop stream so you guys know me I’m not a negative person and I don’t like to throw shade at other companies and
whatnot uh but I’ll say this okay I’ve been in this business a very very long time and I can tell you that the owners
and the people behind batch leads they have a heart for wholesaling okay that
they’ve built this platform to be used by wholesalers now propstream is not
exclusively made and developed for wholesalers in fact when propstream was sold a couple of years ago they actually
wanted to wind down their user base of wholesalers and move and pivot towards real estate agents as the customer that
they are servicing and for me I absolutely want to be working with a
platform that has my business model which is wholesale real estate at the Forefront of their development of their
research and of the tools that they’re bringing onto the platform so for me I think that batch leads is the best
platform that you can use when we’re discussing you know comparing the the the two platforms but again we have
nothing but love for the people over at propstream uh they’re they been in the business a long time but you guys have
always seen that I am hands down a batch boy you know what I’m saying so I love
that we got some people tun in from uhh Northern Colorado DFW San Diego
Nashville Fort Wayne Indiana CL Dallas Oklahoma City Washington State uh
awesome and good to see all of you guys in here it’s so cool to see the reach
that uh this business model is obtaining in the space how fun
so yeah right I I I wanted to dive in a little bit into the conversation of the
different types of buyers right there not all buyers are created equally uh
not to say that one buyer is better than the other there are Fix and Flip buyers Buy and Hold buyers uh and and people
that are even just buying for uh depreciation and tax benefits right so there’s a specific strategy that spe
that certain investors s are uh using when they are purchasing investment property and the metrics that they’re
looking for have to match what their investment strategy is so if we’re
talking about Fix and Flip buyers pretty easy to understand what they’re looking
for they’re looking for the biggest bang for their Buck the dirtier the the more
tore up a house the more opportunities that they have to force appreciation by adding value to the house is going to to
make that specific deal sexier to a Fix and Flip buyer right so primarily
they’re looking for condition and price because that’s what they mostly care about on the other hand when you’re
talking about buying hold investors there is a whole slew of factors that go into play how do I know this because I’m
a Buy and Hold investor myself and so when I’m looking to buy rentals uh often
I’m looking for condition first and foremost I want a property to be in rent rentable condition I want it to be uh
you know TurnKey essentially it doesn’t need to have a lot of Renovations done to it but it needs to be at least
livable right it has to be a place that you can put a tenant into fairly quickly without having to spend a tremendous
amount of money um to get it there and so you know one of my uh one of my most important factors in looking at a Buy
and Hold property is its condition do I need to spend 30 $40,000 to get this
place in livable standard because remember guys tenants uh although
they’re incredible and they’re the reason why you make the cash flow that you make when you’re a Buy and Hold investor when tenants turn over one of
the biggest reasons why landlords quit the business like let’s just say for
instance you have a property and because of today’s interest climate it’s very difficult to find cash flowing rentals
right now right very difficult when you’re talking about seven and a half 8% interest rates it’s hard to use the bur
model to try to get cash flow but if you find a good opportunity that’s priced well and can still cash flow at an 8%
mortgage the likelihood of you getting anything more than say two to $400 a
month in in excess cash flow on that property is very rare now think of this
you’ve got a property you’re making $200 a month on which is fun okay that’s nothing to bat an eyelash at on $200 a
month but let’s just say at the end of 12 months your tenant decides to leave and they were not necessarily terrible
in the property but as you know General wear and tear is going to typically require carpet if you had pets in the
house there’s definitely going to be a need to change the carpet and painting the property right and then there’s also
general maintenance and repairs that pile up over time and those are all going to cost you money I have found
that the average amount of money that gets spent on a turnover from going from
tenant to tenant is typically $5,000 now do the math yourself if you’re only cash
flowing let’s see let’s just be generous let’s be super generous right now and say you’re making $500 a month on your
cash flowing property and excess at 12 months that’s $6,000 okay dang what happens when you
have to spend $5,000 on your turnover you basically made a thousand bucks and
I don’t know about you guys but to do all of that work to have to deal with all of the craziness that a tenant can
put you through and the potential for a disastrous s situation right because I’ve also had Tenants come in and
completely thrash the house that I’ve given them yeah and I’ve had to spend upwards of $10,000 sometimes even
$15,000 to get that property back into livable condition and so the likelihood
of me making money uh is really difficult on a Buy and Hold deal so uh
for me I’m more looking at acquiring Buy and Hold properties for the tax benefits
because I’m a high income earner I have to pay a lot in taxes but because of accelerated depreciation which which is
in the tax code I’m able to depreciate at an accelerated basis all of my
depreciation which happens over 27 years in the first year of owning it which is incredible that allows me to have a
really good tax savings and so for me even though I may not cash flow on a property if I can save 60 70 80,000 on
my taxes by buying a home you can do the math now right it makes sense for me to buy this house not for the cash flow but
for the depreciation because I’m going to save money on my taxes by owning this property now in addition to that we have
different types of rentals right we saw the emergence of the Airbnb golden era
in covid where people were buying airbnbs because they were great investment vehicles especially during
the pandemic and quarantine but what happened since airbnbs have taken a
tanky right because people have kind of come out of their shells they are now traveling more and they are opting to
stay stay in hotels because of all of the amenities that they’ve missed right people like room service they like the
hotel restaurants they like the ability to call somebody if they want more coffee they you know you’re cold and you
want some extra blankets the Airbnb I’m at right now they didn’t even have any soap in here there there isn’t any there
wasn’t even any soap so I’ve been having like you know bird baths every single day I had to use hand soap when I was in
the shower because I’m like these guys didn’t give me any soap in here man so it’s like airbnbs are not all that they’re cut out to be right um also I
think there’s somebody living in this Airbnb that I’m at right now and I think they can hear me but there’s a room
that’s locked in this place right now that leads to an outside door and I heard them coughing the other night I
don’t know how I feel about and they didn’t even tell us they didn’t even tell us that there was going to be somebody living so they’re like holed up
in this room waiting for like me to leave the house so that they can come out and know and and be it’s like the
craziest thing I’ve ever exper interesting super interesting right um but that’s what’s happening right like
the the world of Airbnb isn’t all that it’s cut out to be they’ve definitely taken a big hit on the rental side of
things but there’s a new type of rental situation that actually your brother uh
Pace morby introduced me to and it’s called shared housing or yeah I haven’t
looked into it yet but yeah been been seeing that a lot it’s a phenomenal phenomenal way to cash flow your rentals
and you get get so much more money you get so much more money in fact typically
if you’re comparing a long-term uh rental amount to what you can get on shared accommodation you’re looking at
3x so what you might be able to rent out for say $2,000 a month if you do it
correctly you might get up to $6,000 a month for shared accommodation but you got to be in the right
locations yeah that’s why something that I wanted to go up uh go into with you guys is the types and area of of
locations and uh where these properties need to be located if you’re looking for a good Buy and Hold property let’s get
into some of the factors that Buy and Hold investors look for so they’re going
to be looking for location often times people that own rentals want to own rentals where their other rentals are
located why do you think because if they have to go out and do any maintenance if they got to go check on the property
they would way rather be able to just go to one part of the city go check on their properties go check on their
situation and then leave to whatever they got to go and do go back to home if
you’ve got rentals all over the city now you’re wasting time you’re wasting gas and it just becomes an added headache
for you as an investor and so when you’re looking at selling Buy and Hold
properties and this is something that you guys want to take into consideration look for properties that are near your
subject or your wholesale deal that are owned by llc’s right this is something that batch can absolutely help you do
using their tool because now you can pull up you can locate where your property is and then you can see what’s around it and you can see who owns those
properties and if they’re owned by an LLC there’s a good chance that that’s a rental and now that we know that
property managers or or uh landlords like to buy properties where they have
other properties there is a solid chance that getting a hold of the owners of
those properties may be a great buyer for you for your subject property one of the other things to keep in mind is that
a Buy and Hold investor because they’re not looking for trashed out houses they’re looking for TurnKey they will
tend to pay more than your Fix and Flip buyer so if you’ve got a property that
doesn’t quite necessarily pencil as a wholesale deal for a Fix and Flip situation it may be the exact thing that
a Buy and Hold investor is looking for so it’s really a good way for you to still be able to potentially sell a
contract because the way you’re marketing it isn’t for a Fix and Flip it’s for Buy and Hold uh buyers now
Landry uh you guys have an incredible buying uh a buyer tool in batch and I
wanted to see if you had uh some time to kind of share with us some of the resources that people can expect when
they become members of batch leads for finding buyers yeah absolutely and
Natasha if you want to put the screen up I’ll kind of give you guys a quick idea and of course you know we’re limited
because of YouTube so I’ll just give you guys a quick kind of over riew but every time that we do these shows I collect a
list whether we’re looking at Sellers you know if you go back before you know when we were doing the off-market show
we’d pull those lists right here from batch we’ve done something with cash buyers before and just like we’re doing
today once again you can just come right in here uh which is really nice to have all of that information or even the real
estate agents on the properties type deal so basically if we like today’s list I just pulled in Phoenix and coming
into to Phoenix and like what Jam is talking about let’s say that I have a property under contract um you know down
here in Phoenix and I’m like you know what I I’d love to try to find a buyer
that I know likes this area you know like we’ve talked about in the past it’s like you reach out to a buyer they might
be like that area sucks I don’t like that area but it’s like what if you find somebody that’s like oh yeah I just
purchased the property for cash like two blocks away like I love that neighborhood you know that area is great
it’s such a easy way within like two minutes or less you know as you get used to it to just pull it up so let’s just
say that like I have a subject my subject is down here somewhere and we just do like a boundary because you
could do big searches in here too but with boundary you could just like outline maybe like a subdivision or just
like a really large area just like this let’s say our property somewhere in the middle of all this this uh this map and
then you open up your filters and then there’s legit just a cash buyer section that’s like how many properties should
should they own in their portfolio when should they have bought these properties for cash like are they active on the
market now I I feel like that really helps uh find the specific like if we wanted to find people that are likely to
have Fix and Flip then find somebody that bought it recently like in the last year like we’ve done and then now it’s
active or maybe if it’s Buy and Hold they purchased it with cash but they’ve owned it for a few years now you know
like trying to find your target type of buyer can be just the difference between
filter you know in here which is pretty cool Landry if you would I want to kind of do a case study where I will show
people what I was able to do with a very tight wholesale deal so if you okay yeah
could you pull up 3108 West Missouri in Phoenix Arizona
missii why can I never spell Missouri how do you spell it mi mi du okay there we go Missouri
here it’s been doing this to me a little bit today sometimes it’s finicky with pulling it up here one sec
I’ll get it up on the other screen okay so guys I’ll give you the quick and uh
dirty back of the napkin math on the this property so this was a three bed
two bath in West Phoenix and it was priced at
$250,000 okay now just for your guys’s knowledge the arv on this property was
about with its current configuration maybe $350,000 so there’s
about 100 Grand in equity but it needed $100,000 remodel right so at if I pay
$250,000 for it and I have to pay another1 $1,000 in remodeling it actually the remodel came out to more
than $150 $100,000 it came into $117,000 and so my total Rehab on this
property was 117,000 arv on it is 350,000 and so you guys could figure out
right I I’m upside down slightly on the purchase so you may ask why the heck would you buy that property Jamal well
here’s why I was able to turn that property from a 32 to a 65 from a 32 to
a 65 now because I now have a six-bed five bath house can you can you open
that up and show people where that property is located yeah let’s check it out
oops so it’s right here yep now what’s this if you can uh that big that big
compound that’s across the Road um you know you guys know what this is over there no what is it a college that is
Grand Canyon University yes Grand Canyon so literally right across the
street right across the street from the college right so this makes a great student rental it also um when I when I
got in touch with padsplit and they’re a good property manager for co- living properties they average
85% occupancy in that area and yeah pretty great and they’re they can get me
roughly roughly $250 a week per bedroom so do the math
on that right $250 a week that’s about $1,000 a month six six bedrooms that’s
roughly $6,000 in Gross rent for this property
now let’s see what the ROI on that is okay I have purchased it for $250 I put
$117,000 in renovations into it so I’m into it for $367,000 okay I’m making $6,000 a month
gross multiply that by 12 that’s 72
$772,000 a year in gross income if I divide that by
367,000 that is a 19% cash on cash return 19% cash on cash
return tell me where where in America I can find a 19% cash onh return anywhere it’s very
rare very difficult to do now of course I don’t have a lot of equity in that
house but over time that house will appreciate so let’s just say that I can
get an additional three to 5% because of the market right now let’s just say I
get three to 5% in appreciation on that property so I take 19% that I’m getting
in cash flow and I add another 5% to that that’s 24% return cash on cash now let’s take
into consideration the depreciation that I’m going to get on that property so $667,000 in property is going to roughly
depreciate $660,000 off of my taxes so when you do the total Math guys oh my
gosh the return on me the return on investment for me on this property is upwards of 30
40% where the heck are you g to get something like that ever and this is the
way that I want you guys pitching your Buy and Hold buyers right when you’re talking to buy and hold buyers you’ve got to understand that they know the tax
benefits but they want to know that you know their language right they want to know that you know what they’re thinking about what they care about and what’s
going to move the needle for them and so when you can package a property to them and say look I did some homework for you
and I spoke to padsplit and guys if you’re looking for a referral to to uh
somebody from padsplit we’ll absolutely happily help you guys out there an incredible Property Management uh
company I don’t know Natasha if you’ve got um a way for people to contact them you can put that in the chat um but guys
it would be worth your time to get a hold of pad split and to ask them what the occupancy rate of a property in your
specific area or your subject property what the occupancy rate is of that type of property and then you could find out
what’s the average weekly rent that they get for that type of property you can do some quick back of the napkin math like
I just did right now and when you pitch your Buy and Hold buyer your property
you can explain to them look not only can I get you this house but this is a contact for somebody that you can get a
co- living situation with we think you can approximately get you know X thousands of dollars out of this per
year um this will be a 20% cash on cash
return which is very very compelling and you guys see how I took what would have been a not so good wholesale deal and
turned it into an incredible Roi right so you’ve got to really be looking at these deals and these situations from a
high level perspective because not everybody has the same objectives when they’re buying a house most people would
have said to me Jam you should have never bought that property you’re going to lose money on it but quite contrary
I’m making buku bucks and saving money taxes which to me is pretty dang good right so
yeah Natasha you’re there if you do have a contact for somebody at padsplit um i’
I’d love for you to put that link in there if not uh today then maybe next week we can share that with folks um but
definitely uh worth your guys’s time getting in touch with padsplit to see what the vacancy rates are what the
average weekly rents are so that you can actually give this data to your buyers
want to say one more thing about that even if you have a Fix and Flip property that’s a that has great numbers even if
you got a Fix and Flip property that has great numbers you can still give somebody a a performa on what the
expected cash on cash return would be for this property should they keep it decide not to flip the property they
may decide hey I’m I’m I’m going to I’m I’m only going to uh um keep this as a
rental well now you’ve got multiple options for your specific buyers which means that you’re going to have a
greater chance of selling the deal so I’m sure your buyers will thank you for
that and want to bring you you or want you to bring them other stuff because you’re you know giving them multiple
options and doing that extra extra kind of homework for them absolutely uh thank
you Natasha for putting that link in the chat so there you guys have it padsplit docomo uh just a worth a conversation
for you guys to find out from them uh what the co- living or shared
accommodation um numbers look like in the area that you’re doing business in they don’t all they don’t all work in
the same um um they don’t all work in the same States they don’t work the same in the same state so super important to
pay attention to that Jamal I’m how the heck did you make that a six out out of
a three well I have an incredible um I have an incredible uh um sister that
helped me um get that done so she’s just like a Savage when it comes to being and
you know she didn’t add any square feet to do that that’s nuts I’m like so blown away even just by that that’s
amazing um yeah it is it’s it’s pretty incredible so um one of the things that
I also wanted to talk about was when you’re looking for cash buyers for fix and flips right so Landry you did some
pretty incredible digging today on batch and you were able to help us understand
how to identify a potential cash buyer for a Fix and Flip would you dive into that for us yeah here let’s
see share this yeah so once again if you guys are
wanting to and we have so many resources for when you guys get in here I manage
the community so you guys are are always welcome to get into the community or even if you don’t have batch leads or
are still thinking about it you can get in there and just get connected with even more amazing people and you guys
can send me a message I can always help you dive a little bit deeper as well you know especially since we’re limited on
YouTube but if you go into your Market the filters that I would recommend using
if you’re looking for somebody that’s fixed and flipping is going to be straight in the cash buyer section I
would go to cash purchase yes I would go personally I find the best properties
that have uh fixed and flipped homes that have been like let’s just say with
within the year of 2023 so let’s just do one one 2023 perfect let’s leave that so
purchased in this year they own jam and I have gone over this a couple times and
what Jam was going over which I really liked because before I would just do like a minimum and then I’d get people like open door and offer pad and you
know they have like 40,000 properties that oh I’m not even sharing sorry guys
there we go that happens sometimes like what what okay like I’m follow yeah there we go so basically if you guys go
into the that blue filter button at the top of the screen and then straight into the cash buyer section at the bottom
this is where I’m doing those filters so I have that purchase date of in this year of 2023 and then this number of
properties owned is one of my favorite things and and the way that Jamal you’re the one that um you know I started
tweaking this after we talked about like minimum of three they kind of know what they’re doing that they have in their portfolio and then maybe like a Max of
like 20 30 just so that we’re not pulling up those people that own 40,000 we don’t want institutional buyers we
want small mon pop landlords yeah exactly so if you do something like that
like hey I’m looking for somebody that this is kind of what their portfolio looks like and they don’t live there you
know making sure that they purchase the property as an investment and then the last Cher on top which is the best part
is if you go to the uh MLS Tab and then
say that they need to be active now so these are basically going to find
properties that were purchased with cash in you know that time period and are now sitting on the market active for Fix and
Flip that’s what I would do uh The Adventures of keus asked why not big buyers great question okay so uh it’s
not that you don’t want to sell to Big institutions and hedge funds okay but let me tell you what’s happened in that space right now so first and foremost
they’re not doing a lot of buying at the moment because of the interest rates uh and the the climate right now in real estate most hedge funds not all of them
but a lot of hedge funds have actually turned off their buying and so it’s not that it’s they’re not good people to to
sell to but they a aren’t buying a lot right now but B one of the things that
you’ll you’ll notice with uh dealing with institutions is that it’s very difficult to get in touch with the
person who is the point person for that fund right they usually work with real
estate agents and so knowing who their agent is that they’re working with
is probably a better way for you to actually get in touch with the institution but on the side of of small
mpaw landlords they’re going to be able to a be make the decision fast B make
the decision quick and come in with non-refundable EMD without tying you up with a long inspection period I’ve sold
hundreds hundreds of properties to institutions and and they always want a minimum 15-day inspection and they
always renegotiate on the last day of inspection so very difficult because what they’ll do is they’ll tie you up
the entirety of your wholesale inspection uh period so you can’t even Market the deal to other buyers and then
all of a sudden after the inspection they come back and they they renegotiate to buy the property sometimes even or
try to buy the property even less than way you have it locked up in under contract so it literally screws your
entire situation over because you haven’t had time to be able to Market this property to anybody else you’ve
literally put all of your ducks in that one basket hoping that the institution
is going to play Fair ball with you and they know what they’re doing especially when they’re working with wholesalers
again now that I’ve said that very few institutions will actually allow you to
assign to them and so quite often what an Institutional buyer will want you to do is they’ll want you to close the
property and then sell it to them now that can be dangerous because if you’re closing properties and selling to them
after that what happens if they change their mind yeah then not you know nobody can
that’s your property now it’s your property now right and so I’m not saying that selling to hedge funds is a bad
idea I’m just saying that it’s more complex and it requires a little bit more of a sophistication when it comes
to assets and how much you’ve got available in terms of liquid powder because they will they will renegotiate
and they will back out of deals it’s just a reality in working with in institutions so I prefer the small mpaw
landlord that owns anywhere from three to you know a couple hundred houses because they are going to answer the
phone when you call they’re typically going to be the person that is making the decision and they can make that
decision with you after just some very short due diligence so in my opinion
okay now you can take it for what it’s worth I’ve only done 7,000 wholesale transactions in my life but in my
opinion okay only W yes yes uh it makes most sense to work with a smaller
landlord just because of the the how Nimble they are how quickly they can make a decision and the fact that
they’re not going to tie you up your entire inspection period only to renegotiate and possibly cancel on you
leaving you with no opportunity when you could have sold that house to somebody else plus you can have that relationship
with them a lot easier rather than just random uh one of the things that you said Landry and pulling up the batch uh
leads platform if you would one more time I want to look at that MLS filter and the actives okay guys look at this this is one of my
favorite hacks okay and this is how you find a buyer for a Fix and Flip who’s
ready to purchase right now Landry what do you think would be uh the parameters
of so can you pull for me all of the properties or can you it just show us how we would pull all the properties
that were made active and listed on the MLS in Phoenix Arizona in the last 24 hours the last uh it doesn’t have the
time frame on here I guess you could do like days on Market is one yeah we could do that so we could do um in this let’s
just reset that and say yes on Market just make sure they’re active and like
you could do number of days like one one day on Market kind of thing uh if you wanted to okay so guys check this out
one of the ways one of the one of the strategies that my intake team that’s the team of mine that builds our buyers
list okay and they’re going to be pissed off at me for sharing this no they won’t because they know I share everything but
one of the things that we do is we will scroll through the MLS every morning and
we’ll look for properties that were listed today that appear to be remodels
okay that areed and they appear to be remodeled why do you think the timing of
that is so important Landry I think they just wrapped it up and get in the door
for the next one right exactly ding ding ding ding see that I’m telling you guys
Landry is she’s she’s as smart as pretty as she looks so the um the the the real
the reality is here is you’re buying hold sorry you’re a Fix and Flip investor when I’m doing projects I want
to keep my men and I want to keep my contractors moving all the time because this is what happens in that space if
you have too many dull or off days your contractors leave you they go find other
jobs and then when you have a project that you’re wanting to use them on they’re busy and it can cost you
thousands of dollars take you all kinds of time and that’s just a you know not good for business right and so I love
using this hack so that I can actually know when somebody is ready to purchase
their house and some of the ways that I’ll reach out to them will be like this right so if you’re looking for a kind of
a script on what you would say to somebody who is a fix and flipper that just listed a Fix and Flip property the
way that I go about it is I say hey uh my name is Jamal I noticed that you just uh listed the property here on coolage
um first and foremost I just wanted to say to you man you killed that remodel like I I love it I looked at the photos
there I don’t know if you’ve got a designer or if you do all of this yourself but uh whoever whoever is doing
this needs to be on HGTV and I know a little bit about that because I am a a reality TV star on A&E where we flip
houses now you are not going to say that but I get to use what I get to use because it’s me okay now um the next
thing that I’m going to say to them is well look I I I’m thinking that since you just listed this remodel right now
that you’re probably ready to pick up your next one and so I wanted to let you know that I just got under contract an
incredible deal in the same city and state where you did this remodel the numbers are really compelling and I’d
love to send you the information on that would you like me to send that to you via text or would you like me to send it to you via email
that’s it that’s it now that buyer can make a decision on whether or not they’re ready to take a property but in
any event you’ve now connected the dots you built Rapport you can add them to your buyer list and even if they don’t
buy this deal right now even if they’re not ready right now they need to get their money out of that last house whatever that circumstance is you now
have an actual cash buyer who you have proof performs closes flip and keeps the
money moving so this is a great add-on to your buyer list right so guys there’s so many strategies to use but in my
opinion when you’re trying to hack timing for these types of deals
using that filter of one day on market and looking for houses that have just
been remodeled is a really good way to get yourself into these wholesale
opportunities that’s genius I love that yeah how do you know that it’s a flip before you call any ideas there Landry
I’d say if it’s vacant if it is Furniture in it it’s all stage like how
would you know between what staging and what’s you know I don’t know you can just I just feel like you can just tell
when it’s staged I I don’t know I feel like you can tell where there’s like a pillow that has a saying on it compared
to something that’s just like you know what I mean I don’t know I feel like it stands out quite a bit or like furniture
that is a lot older that maybe is really nice it looks really good but you can tell that maybe he’s been in somebody’s
family for a while compared to something that like people are up in the trends of now you know what I mean same thing with
when you see a cuty colored door and the house numbers the the basic ones that
everybody loves I feel like those are like some of those really big things that I look for when I see I I think all
of those suggestions were really spoton and good but what if you don’t have the same like knowledge that Landry has of
what’s cutesy and what’s not cutesy right like what if what if you’re like um um uh hey this is um you know it
could be it could be remodel is it is it is it is remodeled but it could be a
primary residence or it could be a flip well here’s what I love to look at okay
the closet oh clothes in the closet genius
there’s no yeah that’s spot on there you go that’s a flip and so now I don’t got to think about what’s cutesy what’s like
possibly a you know a a personal residence I just go right I see remodel I go right for the closets if I see no
clothes that’s a remodel and that’s perfect easy also the time that they’ve
held the property for right so that’s going to be super important to look at you want to see when did they purchase
the property and if it’s like somewhere in the last 12 months you know that that was a remodel right so somebody bought
it maybe waited some time to get permits did the renovation listed the property
anything that’s 12 12 months or less is going to be that um that case it’s going
to be um a a very likely remodel perfect
that’s wow what an easy way to just get right to the point I I think so it’s
like I I I’m I’m one of those guys that’s to cut to the good stuff you know so yeah um there was a question in the
chat somebody’s asking hey um what is the differences between privy and batch so Guys these are two completely
different Platforms in my opinion I I I use privy for for specifically for
comping um but batch is more of a lead generation software right so this is where we’re going to be finding our
leads our direct to seller lists amazing skip tracing you don’t have that in privy there’s no skip tracing there um
so they just do different things right so for me batch is incredible to use if I’m finding lists skip tracing uh buyers
and sellers uh tapping into um um the tax records these are some of the more
fundamental things that you can get on batch that you can’t necessarily do in other platforms so you’ve got to look at
it like this if you’re a contractor right let’s just use the example of a contractor you’re going to have a tool
belt and in that tool belt you’re probably going to have a hammer uh you might have some screwdrivers and you’re
going to have a measuring tape okay all of them are tools that you use in
construction and renovation but they don’t do the same thing but they’re necessary if you’re a contractor right
so as a real estate investor I have a few tools that I use that help me move
along my business right so for me I love batch when I’m looking at lead lists and
I’m looking at you know potential opportunities I’m going to be comping on privy and um if I’m want to be you know
for instance maybe sending some text to agents I’m going to use astr Blaster as my process to to do that so I’ve got
multiple different tools that I use for different things and of course um not everybody has the ability to have all of
that stuff but if you’re starting to gain raction and you’re doing business I for me one of the first things to invest
in are tools and resources that are going to help me do this business better
faster cheaper and at scale so uh I hope that answered your question I did answer
the question between the differences between p uh uh propstream and batch earlier in the episode but again Pete
just to give you a quick highlevel reasoning propstream is geared more towards real estate agents when they
were purchased by Security Title a couple of years ago they made an active decision to leave wholesalers as their
primary customer and pivot to be more of a tool for real estate agents and so
unfortunately um for us as wholesalers some of the utility is not necessarily
all that good secondly I don’t know if you guys are aware but a lot of their data is third party anyway so it’s not
the the best data um but again I have nothing but love for propstream I love
the the people there there uh we’re not throwing any shade but let’s face it right I’ve done over F I’ve done over
7,000 deals I’ve been in this business over 20 years and for the last five years I have never promoted propstream I
just haven’t it’s not the tool that my company uses it’s not the tool that my community uses we are batch people okay
that’s it all right now who wants to call some buyers let’s do it yeah I want
to let’s get into it all right so you
sent me a list earlier that you pulled Landry
and just for specificity would you mind sharing what this list is for our
beautiful viewers yes so these are kind of similar to what we pulled up earlier
of uh you know properties that were purchased in the last year-ish you know under a year and they’re now active on
the market and they’re looking real good they’re looking real nice nice and in their description they say fully
renovated so that those are the main focuses that I um put into play here and
um I believe all of these are bacon as well so I’m pretty dang sure all of these have been flipped and yeah I have
the agent name down there for you just in case because you know how tricky it can be with llc’s sometimes some of them
I was like I think I found them and others not so much so give you a couple different things there and a link to
look at pictures if you want to beautiful I’m going to get calling guys if you guys are interested in uh
listening to some cool calls for buyers you’re going to want to stay tuned all right let’s get it I’m going to start at
Orchid hello hey is this Carlos no oh I’m I I apologize I’m
looking for the the person who owns the house at 916 orchid in Phoenix h no this is some this is the
wrong number oh I apologize sorry about that dude take care problem see you all
go your call has been forwarded to
voicemail the the number you have reached is no
longer okay and let’s call the agent
okay H hey John um my name is Jamal I’m calling about that house that you listed
on Orchid yeah hey um uh great property by the way I was uh you know peeking at the
uh the remodel that your client did over there and it’s it’s really nice I actually I’ve got a property um under
contract that not too far away from where this property is is located that’s in like really bad condition and needs
to be remodeled of course I know you’re working with a client that does flips do you think that they’d be open to you
know looking at another opportunity and if so I’d be happy to send it to you and then maybe you could um you know fit
yourself into the deal and and and make something happen yeah I mean the client is my
wife awesome dude yeah so you can just call her direct and see
she’d be interested it’s of up to her got it got it okay um give me a second here and let
me get the the the phone number down I’m ready when you are
56 713774 amazing what’s her name Gwen uh
Gwen you said yeah GW amazing thank you so much John have a beautiful day bro
goodbye see you I mean come on now here you go he’s
like client yeah I know her I know her that’s my wife that’s my wife so uh
Gwen hi this is Gwen I’m sorry I can’t take a call right now we got a double dial you know we
don’t if you didn’t call once you didn’t call ever hi this is Gwen I’m sorry I can’t
take a call right now gonna leave her message hey Gwen my name is Jamal um I’m
calling about the property that you uh renovated on Orchid I actually spoke with your husband John a few minutes ago
and I explained to him that I’ve got a a real trashy property not too far away from your renovation that you did there
first and foremost you’re you’re amazing you killed that that Renault so I hope you guys knock it out of the park on it
um I am uh looking to actively sell my contract on a house that needs a lot of work and it’s got some really good
margins on it if you are interested in in hearing about it do me a favor and give me a call back my phone
number uh I’ll be around all day just give me a call or send me a text message and I’m happy to send you the info on
that deal I hope you have a beautiful day and looking forward to hearing from you all right um
I’m actually probably gonna I and normally I would also text just to
completely close the loop on it right so I’m calling leaving a voicemail sending a text I might even go so far as to send
the deal text to her because now I haven’t I’ve identified somebody that’s an active cash buyer flipping properties
in the area right like it’s me it’s a no-brainer but you guys see how fun these calls are like it I’m not talking
to some a-hole right like At first let’s let’s kind of deconstruct what I do there okay I call I comment on the job
right so I’m always going to be complimentary to the work that they performed I’m going to explain that I
have propert I have a property that’s and and you might be wondering but Jamal do you have a property nearby I always
have a property nearby and if I don’t have a property nearby another wholesaler has a property nearby this is
the beauty of micro flipping this is the beauty of JV so you may not have a
wholesale deal nearby where this property is located but I promise you with the tens of thousands of people
that I’m teaching how to wholesale somebody going to have a property near where this person is buying houses and
so the next thing that you’re going to want to do is just connect with other wholesalers see if you can find a a
property that’s got good margins on it that you can JV and send that deal over to them maybe fit yourself in for 5,000
bucks bada bing bada boom and there you got to make some money you know what I’m saying you go yeah you might really be
helping somebody find a buyer maybe they’ve been struggling to find a buyer you’re like hey I got somebody right
here so if you can put alie’s comments up Natasha so Alfie says all the gurus say
they have a house under contract but what if you’re a beginner and you don’t have anything under contract yet great question Alfie so the reality is is like
I just said there are so many wholesalers in fact my community in AST flipping we have over 5,000 members the
largest wholesale community in the entire country we always have houses
under contract and that’s what a JV is right bro a JV is when you’re working with another wholesaler and you are
selling their deal for them to a buyer so essentially you’re going to get their
contract and you’re going to ask permission to send this this deal text or this information to one of your
buyers and most wholesalers these days are open to JVS if you come across a wholesaler who’s like I don’t JV it’s
like okay cool you don’t JV but they say that on day one of their inspection then when they get to about day seven of
their inspection and that’s why I I never get offended if somebody says I don’t JV I’m like okay cool no problem
bro do you mind if I call you back in like a week or so to see how things are going and when I do guess what they do now they JV
because they didn’t sell the deal right when you got this like closed mindset where you’re like I don’t want to partner with anybody collaborating is
sucks if that’s the kind of person you’re talking to don’t get mad at them don’t be like oh F that guy he doesn’t
want to do any B than me no that’s not what you do you just wait you wait you let the conditions change
so that now what you’re saying is actually something that they’re interested in make
sense um I’ll make some more calls here but I I see that we have some questions
and um I want to make sure that we get to those questions before we end the
he’s her brother your brother’s hitting me up right now oh there you go he says tell my sister that she’s amazing oh I
really that’s what he said I don’t think so why would you say that he’s busy guy
but he he’s still loves his sister yeah I love him too be visiting soon for in
Arizona to voicemail the person you’re trying to reach is not available I love like British
accent I love those British accents I know I’m like who yeah I there’s so many
different variations of voicemails out there actually if you want to know what pace asked me that’s see I told you I L
I was like there’s no way that he was just like randomly of course I know he L listen to what he asked me he’s like hey
bro I’m word for word gonna read it to you he’s like can you connect me with your gal at Fidelity National Title I
really need a good contact for a title company that can do deals for me all across the country if Pace Mor is asking me for
that referral guys then you know that’s a valuable person for you to know so again if you have not yet signed up for
batch go to batch leads. ijam enter code Basics we will give you that referral I
will hand refer you to Dena she’s incredible she will change your life
help you get money for marketing she’s just one hell of a gal so the link again is in the chat up on the screen right
now and uh away you go so let’s start calling some more
buyers okay why can’t I find these when I want them ah there you are Landry okay who’s
next Michael Michael Cova right yep
Wireless you have reached the number that let’s call the agent okay
Marcy Marcy I was going to call her Mark oh I didn’t see the
why reach the Murphy team this is Aaron how can I help you hey Ain I was looking for
Marcy she’s not available at the moment is there something I can help you with well I actually I was calling about the
listing that she has on Evergreen Street and uh interestingly enough you know um I know that it was a remodel and they
they did a phenomenal job um but I’ve got a like a junker house not too far away from there uh that could really use
a beautiful Remodel and has some pretty compelling numbers on it and I wanted to see if Marcy would be interested in
sending it to her client maybe they could you know do another deal together and and I could get this off of my
inventory well we’re having a difficult time getting that one sold so I don’t know that he would want he’d be
interested in a property in that location in that specific area but is he is he still looking to flip others in
other areas sure in other areas yes but not this area area is not working for him
got I got it is that that’s is that the Coronado District over there is that where that is or um y okay it’s kind of
a funky area right like there’s like the houses are so expensive over there but there’s like Street Walkers you know
around the corner and so it’s like it makes it a little bit difficult yeah
we’ve actually had um a couple of he four different times the police have
called us with uh homeless people creating an encamp putting mattresses and stuff in
the back there so we had to get rid of yeah so um yeah he’s not really happy with that
area he’s probably not going to be investing in that exact area again okay just because it’s been it’s been an
issue with this property but got it so it sounds like you’re are you the agent that works on that deal or is it Marcy
specifically it’s Marcy I’m Marcy’s assistant okay wonderful so that’s why you know so much got it got it okay
exactly okay so what would you suggest be an adequate process for me to try to
get these opportunities in front of you or Marcy so that she can you know if they’re if they’re really uh compelling
good numbers and good areas that your clients like that we could maybe connect the dots and and uh and get some deals
done oh you just send them a just um email was the best best way because that
way we can forward that to our clients okay and and see if gauge if they’re
interested or not wonderful and I’ll in the email I’ll just kind of I’ll spell out what you know how you guys would be
compensated and kind of so that you know you it’s all above board and you know okay this is what you know we’re going
to make or this is how we add our fee on so just so that there’s no like ambiguity or anything in there no that
sounds great awesome what would be the email address that I could send that to
Murphy Murphy Team Dream homes.com Murphy team dream homes with an S
yes.com awesome uh what What’s your name again my name is Aaron Ain thank you so
much Ain you’ve been a pleasure to talk to you today you’re welcome you have a good day you too bye bye bye bye so guys
as you can see connecting with some of these agents is like the money right
because these agents remember like if I send a good wholesale deal to one of these Realtors I I can guarantee you
that Marcy works with more than one rehabber I bet you a handful of them
maybe even you know 20 30 of them and so that’s a powerful person to have a wholesale deal in front of she can send
it all to all of her buyers and one of them might want to buy it so it’s like you literally hack the system by doing
you send the deal to one person then disseminates it to all of their clients now we’re talking big baller status you
know what I mean pretty yeah through one phone call of somebody that is nice to you as well absolutely I just love it
and what was he gonna say oh I was going to ask you about if anybody’s wondering about with uh with agents and I know it
can be different it could be a flat fee or it could be some sort of percentage how do you usually go about that if uh
you know if Aon was able to get you connected with this buyer or another
buyer how would you compensate the agent I always say hey um add your fee on top
so add your fee on top and then that way and I and I pitch it as a as a way like I say okay look this house has aund say
$150,000 in spread you could add 3% or
any amount that you feel is fair uh I’m going to I’m not going to count your money and it’s it’s not my business how
how much money you want to make on this deal there’s a lot of margin and so you can literally name your own commission
and I’m telling you guys in today’s climate where we see so much downward pressure on real estate agent
commissions that is going to go a long way because agents let’s face it right now it’s lean out there it’s hard it’s
hard for them out there right now because buyers aren’t qualifying and if buyers aren’t qualifying deals aren’t closing and if deals aren’t closing
who’s going to pay the BMW lease right yeah it’s right though I and one
other thing too that I thought was really important in in there is that you gain the Insight of the area that people
do and don’t like so you probably if you were looking at getting into that area of the buyer that you just called and
then you just heard about what’s happening in the backyard of that property and that they don’t want to invest there again are you going to look
in that area for another property probably not exactly so it gives you some really good Insight the where you
call and get to know your Market in the areas so I thought that was pretty insightful too well guys we are at time
but uh I did want to just remind you guys go to uh batch leads. ijam enter code Basics get 50% off your
first month and we would love love love love love to make a referral to DEA
Jones for you so that you can have the big boss uh Title Company in your back
pocket anybody who signs up for batch today Landry will get a list of those people and you will be receiving an
introduction from yours truly to Dena which I can tell you like is like
literally rolling out the red carpet for you and giving you VIP status and giving you a crown and then saying Dena this is
king or queen so use me for that situation guys you want my contacts you
want to have people in your world that that are referred by people that have influence and I’m happy to do that go to
batch leads. ijam and use code Basics but we will be
back again on the 21st of December I excited what are you going for Christmas
Landry we are going to go to Arizona we still haven’t had our own uh Christmas here in Tennessee so we’re going to go
when are we I think like the 24th so right before Christmas so should be good to see the family it’s always a big
hoopla as you know so yes yes well Landry as always it’s a pleasure to uh
work with you to to do these lives with you you’re one of my favorite people in the entire world and I love you very much I love you too Jamal thanks for
having me on here with you as always and thanks guys for being with us take care
