hello Welcome Back to Basics with Jamal damji and Landry morby excited to kick
this new very very very um introductory
approach and opportunity for the community to get back to basics on their
wholesaling business Landry and I have been asking many questions of our
audience and we found out that there’s so many people that are still trying to get their first deal and
our goal our wish our purpose of doing this is to help as many of you get your
first deals as possible and that means having to really get back and understand some of the basics of the business of
wholesaling Landry how are you today I’m good I’m more concerned about you though
I’m like so surprised that you’re here I’m like I’m fine how how are you doing Jam well I guess I should probably address
the um apparatus that’s around my neck um and coming over my chest so uh for
those of you that don’t follow me on Instagram or Facebook or anything like that and you’re wondering what the heck happened to Jam well I uh woke up one
morning and my entire body was numb and uh I ended up pushing through the weak
in a lot of pain uh in my neck with numbness all over myself uh it was
really really scary and uh it did actually lead me to visiting a doctor towards the end of last week and uh at
that doctor appointment my doctor had said I needed to go to the ER now of
course um if you know me or um your brother or anyone that’s like us in that
regard uh there’s not many things that you know if I if I have to be
voluntarily if I have to voluntarily check myself into an ER there’s a good chance I’m not not going yeah um because
an ER is for emergencies right like it I should I should be on the ground writhing in pain although I I was
definitely in a lot of pain but I should I should not I should not be walking around if I need to be in the ER but you
know my uh my wife had said Jamal this is really important I need uh to make
sure that you’re okay and so we ended up at uh the ER they did an MRI and they
determined that I had 98% blockage in my spine so my um my vertebrae one of my
vertebrae had had dislocated or had had become so protruding that it was um it
was compressing my spine to the to where only 2% of the cerebral spinal fluid was
making its way to my brain and so our bodies need to recycle our cerebral
spinal fluid every 24 hours in order for us to be normal for us to have uh you
know proper motor function and to have appropriate mental function and so it
was uh incredible that I was even functioning the way that I was functioning at that time um given how
blocked my spine was and so you know the uh the appropriate thing to do was for
them to uh cut me open and do a spinal fusion another spinal fusion I had
already had one 15 years ago but they had to do another one from my cervical spine C1 all the way um sorry C4 all the
way down to C7 and so uh I am in recovery right now guys I’m definitely
um not out of the woods completely but I’m doing better and you know uh one thing about me is I am never the guy who
uses an excuse although I have plenty uh of valid ones for taking some time off I
just I you know this is my purpose this is my life and I don’t enjoy being Idol
I don’t enjoy just laying around on you know on my back so so weird Landry as I
was sitting there in the hospital bed I actually did two wholesale deals in the hospital can you believe that I saw I
was watching your whole thing and I’m like this guy freaking Jamal it was crazy I made $50,000 from my hospital
bed and as I was sitting there talking to Bobby about it I thought man you
know I I there’s really no excuse there’s really no excuse to get this to
get your business off the ground there’s really no excuse for you to be able to make this a reality for you and so
Landry and I are here I uh am as committed as ever to what we are doing
here in this incredible business model of wholesale real estate and uh we on
the last version of um what I guess our last episode of jam Jam goes off Market
with Landry morby that was the final episode of that show we announced that we would going to be coming back with
this new platform batch to to Basics and we were going to be really diving into
the ABC’s the one 123s of wholesaling Landry what are we gon to be talking
about yeah I’m excited and just glad that you’re doing it I’m sure everybody here is really grateful to of course
have you back on here but just glad that you’re recovering well too but with this
new series I’m really excited too because I think that there’s a lot of missing pieces and you’re always talking
about it J about demystifying the process and I feel like this is what this series is it’s demystifying all of
those things that maybe people don’t talk about and we’re going to be talking about picking a market all of the things
that go into picking a market picking a strategy what goes into that what are the pros and cons of Acquisitions
dispositions you know all of these different things that people just say go pull a list call it and get a deal done
and it’s like what about the other stuff you know so that’s what we’re talking about today I’m I’m looking forward to
it incredible and you’re so right Landry it we we do especially for people in in
you know my position or or or more experienced wholesalers especially when
we uh sometimes are addressing our audience you know we forget we forget
that like people don’t know what skip tracing is right we forget that people don’t know or have an idea but what
Market they should be working in we have people that tune in from virtual areas or even overseas different
countries I mean I’ve got people that tune in from Canada people that tune in from Africa people that tune in India
yeah and so you know they they’re they’re all wondering can I do this virtually and if I can do it virtually
how do I choose a market right all of these things are super important so we want to turn this over to the audience
for a quick minute because we would love to get your opinions on some of these
topics that we are going to be covering how many of you you in the chat right now have already chosen a market to work
in if you’ve chosen a market to work in then do me a favor and write the market
that you’re working in in the chat so just let us know what Market you’re working in in the chat so we are aware
already okay awesome we got some Arizona Utah DFW Tampa La Houston awesome North
wow look at Corey Corey’s in North Carolina South Carolina Georgia
amazing Houston Texas beautiful Tampa but thinking of changing I don’t know
why you’d want to change Terry Tampa is a phenomenal Market but maybe you’ve got your reasons uh lenel says Philadelphia
yes Philly is great Ohio Chicago Atlanta DFW amazing so we’ve got some really
really good markets that people are choosing um we’re going to talk about what some of the factors you should be
looking at when you are choosing a market because one of the most prevalent
questions I get from people especially for folks who are maybe living in smaller areas or more rural rural areas
is you know Jam um what if I live in a market or what if I’m near a market that
doesn’t have you know a huge population what should I do then should I should I choose choose uh a different strategy
should I should I choose a different Market should I should I really go deep into this market and become like the
best wholesaler in you know the little area that I’m in and those are all valid questions right and so um we’re going to
talk about some of that I also just want to see how many of you have yet to choose a market so if you have if you
haven’t yet chosen a market then just do me a favor and put two question marks in the chat if you haven’t chosen a market
yet do us a favor and put two question marks in the chat because I just want to see how many of us tuning in right now
have still not decided what Market we’re working in and are open to thinking
about and making that decision and we’re going to help you guys make that decision today so we’ve got a few um
awesome so Albert still has not chosen his Market which is awesome U Ashley the
ultimate Duo I wonder who the ultimate Duo is oh um uh Mary
C Lee Alysa awesome awesome Galaxy Big
Bird said in the Las Vegas market today better or worse than oh is the Las Vegas Market uh better or worse today than
last year um great question I would say that the market in Las Vegas is is
definitely different than it was last year um last year we had a completely
different inventory situation we had different interest rates um and so I
would say the market last year was a little better in terms of volume of
course right um rates were lower and there was still uh adequate inventory
and so people were rushing into the market trying to do business um but we
did definitely see some Market constriction and we’ve seen oddly enough
especially in markets like Vegas uh which mirrored Phoenix you know very very closely there were there were times
where last year or this year sorry in 2020 in 2023 there were there were times
in the year where we went from a buyer’s market to a sell’s market back to a buyer market then back to a sellers
market and now we’re back in a buyer Market again oh D really flip fling I know it’s major flip-flopping and you
might be wondering like why is it happening well you know the fact is guys is when the FED uh is was doing what
they’re doing with interest rates the mortgage industry itself they are raising rates as well and even though
the FED didn’t raise their rates the mortgage industry had raised their rates to the to an industry High actually it
was like a 20year high not an industry High a 20-year high and people pump the
brakes again so a little while ago we saw that with mortgage rates increasing
somewhere near towards 8% in some some cases oh my gosh we saw that there were
people taking a pause saying they weren’t going to jump in right now they were going to wait to see uh if the
market was going to change or if there was going to be any any um you know big
adjustments happening and so people were waiting on the sidelines and so we are back in a buyer market right now but I
just was looking at the headlines today and it so happens that the mortgage industry has taken one of their largest
plunges since the big spike in interest rates happened and really uh rates are
starting to come back down again so I wonder if coming into the holidays we’re going to see an increase in buyer
activity we still don’t know what the effects will be of mortgage rates starting to decrease uh and what that’s
going to cause in the market but they have preliminarily said that uh mortgage applications started spiking almost
immediately so we could find ourselves back in a sellers Market coming into the holiday season uh just again so guys
super important super important right now for you to be paying attention to what’s going on regionally because we no
longer have a national housing market we’ve got what’s called a regional housing market meaning it’s different
everywhere you can’t look at what’s going on in Los Angeles and and say it’s going to be the same in Phoenix you
can’t look at what’s going on in Phoenix and say the same things going on in Albuquerque New Mexico you can’t look at
what’s going on in Albuquerque New Mexico and say that that’s happening in Dallas Fort Worth it’s different
everywhere so it’s really important that you pay attention to Stats the statistics in your specific market and
you can always find statistics like that on websites like redin you can find statistics like that on websites like
Zillow you can Google and just find out where your Market is right now so again
very important that you’re constantly staying in front of and on top of market
trends seeing where mortgage applications are so that you can forecast where activity is going to be
Landry we have some parameters that you and I had discussed offline on on
certain things that people should be looking at when choosing a market um what are some of those things that we we
had discussed we talked about you know the population we talked about migration
as well just in general like where are people going we talked about investor activ like are people is that a
desirable area you know to investors is that somewhere where you should be considering investing in as well uh and
I I would say that those are some of the biggest ones to be paying attention to when choosing the market of course with
those other stats too which I think is really important for people to be paying attention to absolutely so um to get to
the uh chat right now real quick cam yes we will be taking some questions towards the end of today’s stream so uh by all
means put your questions in and we’ll do our best to get to them uh before the stream is over thank you so much for
tuning in uh but yeah Landry good great points there right so migration Trends so this is something I want everybody to
pay attention to because especially especially after the pandemic right when we started to see all the different
migration patterns that happened during 2020 and that’s in essentially what caused these huge swings in the real
estate market in general where we had had population migration from larger
markets like Los Angeles and New York and they were moving to places like Phoenix Arizona to the Sun Belt to
Florida so many people came out of New York New Jersey and and and found their way to Florida and those migration
patterns absolutely changed real estate changed inventory and changed the level of
activity of these specific migration positive markets so there’s three m i
want you to pay attention to okay because this is what is really important when we’re looking at a market the first
again guys is migration Trends the second is the money right because when
we when we’re looking at where uh activity is happening you got to be looking at what is the cost of money and
so interest rates are absolutely going to be affecting what a Market’s activity
is going to be looking like looking like and then lastly Millennials so it was
migration money and Millennials those were the three M that caused the huge
spike in real estate activity in 2021 2022 and so we still need to be looking
at those patterns to forecast what’s going to be happening 2023 so yes migration Trends money in
terms of interest rates and Millennials because Millennials right now they are the ones driving the house Market many
Millennials are forming new households they are um making a tremendous amount
of money in their current positions and jobs and they’re becoming ready to become homeowners and so what what
Millennials are doing is very important so migration money and Millennials all
very important factors in determining what would make a good market and yes of
course even looking at that we would like to open it up to see how we should
be doing some of this research so Landry let’s pretend you and I don’t have a
favorite Market because we’ve got all these folks in the chat right now um people like who was it here that said
that they had not yet um Justin and uh Elisa um Marie Ashley Albert these are
people who have not yet chosen in market so let’s do a little bit of research if you will yeah let’s do it let’s find out
the migration pattern of because we had somebody say earlier that
Tampa Florida is a market that they’re working in but they may want to leave the Tampa market so okay let’s let’s do
some research and Google what are the migration Trends in Tampa Florida in
2023 going into 2024 and we’ll see if we have positive
migration positive migration is what we’re looking for what I this is such a simple thing
but uh just just something to think about or food food for thought for the group is
sometimes we I’ve noticed anyway I don’t know if everybody else feels the same but sometimes we don’t Google certain
things legit just type out the question like what should I do and it will just
like not obviously with everything but same thing with uh like the median sale price like we were talking about on on
previous things you can just have an idea with sometimes just Googling it or what does something mean so I’m
sometimes we forget about this all of this I mean I don’t know how anybody forgets that because like to me it’s
it’s super obvious but e even then sometimes asked I’ve asked some pretty bonehead questions to even my team
before where you know AET will be looking at me like uh duh don’t you have Google um so like I thought what a what
a what an easy tool what an incredible thing we have at our fingertips so let’s look at the 2023 migration pattern
report and let’s see what’s happening in Tampa Florida if we can let’s see if it
will hold on I don’t know if it
Okay so interesting they’re G to give you 100 100 things to buy sometimes before they’ll give you um the
information you’re looking for but I’m looking for the net migration percentage uh into Tampa in 2023 oh there’s a map
maybe we we can pull it in from there okay consistent across us continued
shift toward States lower household income okay now can you uh on that map are you
able to see oh there we go yeah if you go to
florida2 what does that say okay so there we go I see the date range now okay so up to 2022 this is just 2023
right now um so let’s look at Florida between 2020 and 2022 let’s see where it
0.85% positive migration is that correct yes I think it the darker it is the
higher in percentage awesome and then what is it looking like now
1.22% got it so it’s still in fact increased migration to the area over the
year and so there’s still massive migration happening in uh Florida and
one of the major markets in Florida is Tampa so i’ I’d almost go as to far as to say that you’re going to find that
same net positive migration in Tampa so we’ve checked one box we have positive
net migration we know that the population is growing we know that that population is coming from somewhere and
very likely coming from a very expensive market like New York so guess what they’re bringing with them money lots of
money right and so what other question does this solve of ours which is the second M which is money let me ask the
audience this question and see if we can get some interesting answers here if we’re looking
at being able to sell your house in New York City for say a million dollars or
more actually let’s let’s let’s test this Landry can you Google Google what
the median household price or median the median uh um housing price for uh New
York City is it is here we
go about 800,000 okay so think about this guys
you’re leaving a market like New York and you’ve got
$800,000 in your pocket or in your bank account let’s just say because I don’t know if you can really walk around with 800 Grand in your pocket but you got 800
Grand in the bank right and you are looking to move to Tampa
Florida will interest rates stop you from making
a purchase if you’re coming with that much cash probably not absolutely right
and that’s what we saw happen it’s what we’re still continuing to see happen in these markets like Florida and Arizona
where you’ve got people coming from California and New York with hundreds of
thousands if not millions of dollars in equity that they’ve had from selling their homes where they lived in and
they’re able to come into these markets and buy homes for cash and because
they’re buying homes for cash guess what they’re not looking at interest rates
the interest rate yes exactly so they’re coming in and they’re making big purchases they’re putting down 100% or
they’re putting down 50% financing and so they’re buying their rate down they’re getting incredible interest
rates for the time and it’s not as important to them as maybe interest
rates were say in 2022 2021 so again um
really interesting to look at look uh Mi Baraka said The Californians and New Yorkers laugh at interest rates when
they move to Arizona I absolutely agree with you because they have no need to care about interest rates in fact they
can take the millions of dollars that they have in their bank accounts from selling their properties and they can
come in and make aggressive offers in places like Arizona in places like
Florida because they have all that cash available if they’re able to make aggressive offers they’re getting all
kinds of seller concessions they’re getting to name their terms they’re getting to name the repairs they’re
getting so much they’re getting so much bang for their Buck because they’re coming in a good time right it’s a good
time for them to come and and bring cash offers to the table because people
people are having a hard time qualifying yeah Vanessa Garcia says it happens in submarkets as well techies in California
moving with cash to Northern areas with cash offers I absolutely agree with you
Vanessa it is definitely happening in other submarkets as well fantastic
points yeah it’s really interesting to see that especially when you look up and then I looked up the median sale price
in Tampa which is closer to 460,000 so it’s like if you think about somewhere
like that with that example that we’re going over with New York like that’s you
know huge huge difference there Lisa agary in the chat says she actually
looked it up right now and she found an even bigger stat for net migration AA
she has a a positive 2.8% incredible wow wow wow wow yeah I I
I absolutely believe that Lisa I’ve been watching what happening in our wholesale business in Florida Tampa specifically
we have had so much business we’ve made so much money in this last year in Tampa
with the way that housing has been going there’s just absolutely no shortage of
demand and it has almost everything to do with that really positive net
migration to the market so great point there and thank you for helping us with the correction of that stat so so now
that we understand and we have an idea of the market that we want to pick and we know what factors we need to look at
when we’re selecting these markets the next thing we want to start thinking about is what our strategy is going to
be right and you might be thinking about well what are you talking about Jamal what do you what do you mean what our strategy is going to be our strategy is
wholesale well yeah it’s wholesale but there is a lot of components when you’re
talking about wholesaling so I’m going to break down what those components are when you’re wholesaling you typically
look at the structure of a deal when you’re looking at the structure of a deal there is Acquisitions and
dispositions right now in Acquisitions you can even take Acquisitions and you
can further divide it into different strategies you can look at Acquisitions and you can say I’m acquiring direct to
seller I’m acquiring direct to agent I’m acquiring doing offers on the MLS I’m
acquiring creative fin Finance deal so maybe you’re calling canceled and expired listings or no equity deals and
seeing if sellers are interested in letting you take over their property subject to so there’s so many different
ways to do Acquisitions and there’s different ways to do dispositions as well you could be a dispositions
wholesaler where your primary business model is helping other wholesalers sell their deals that’s primarily what we at
keegle became famous for uh just our ability to sell deals at a much higher price point than
others could because of how large our list is and how deep our relationships are with different types of buyers so
not only is that one form of dispositions but you might just say hey I’m going to be a a dispo you could be a
dispo wholesaler but you could also be a blended hybrid act and disposition wholesaler where you are bringing in
your own deals and selling your own deals and so there’s so many different ways that you can look at this concept
of dispo now in dispo you could also be wholesaling you could be fixing and
flipping you could be buying and holding you could be holding for Creative or holding for cash flow you could be doing
midterm rentals short-term rentals there’s still so many exits to look at
when we’re talking about this all right and so again we really want everybody to understand this business is got not only
multifaceted components to it but within those components are more components
right so I want to take a poll of the audience again and I want to ask if any of us have made a decision on whether or
not we’re an acquisition wholesaler or a disposition wholesaler if you’re an acquisition wholesaler do me a favor and
just write in the chat AQ if you’re an acquisition wholesaler write AQ and if
you are a disposition wholesaler write DP so if you’re an acquisition wholesaler write AQ if you’re a
disposition wholesaler right DP I want to see if our audience has made a
distinction whether they are act or dispo we’ve got a lot of acquisition people in here wow a lot of act guys a
lot of ACT people Ryan is a blended hybrid so he’s he’s selling a lot of his
own deals awesome um simuel Turner is a disposition wholesaler Mi Baraka is a
disposition wholesaler we got a lot of ACT people in here here and it this makes sense this makes a lot of sense
because what would make somebody be an acquisition wholesaler over a disposition wholesaler well first and
foremost it’s quite expensive um to be able to sit and just build lists right
if you’re just sitting there and Mining data and talking to potential buyers and building lists it’s going to be quite
timec consuming and it can be quite expensive to do that also being a disposition wholesaler means that you
still need to have an extensive network of acquisition wholesalers so you have deals available to be able to sell so it
makes sense that there’s a lot of people here that are acquisition wholesalers now for all of you that are acquisition
wholesalers I want to take this one more level if you’re an acquisition
wholesaler tell me what type of Acquisitions you’re doing if you’re doing direct to seller please write DTS
if you are doing direct to agent write d ETA if you are doing MLS just write
MLS let’s see what you got this one yeah I love to see
this okay direct agent direct to agent awesome Sandra director agent MLS uh
Valerie’s director agent as well as direct to seller cam is
both as well direct to agent and direct to seller amazing Justin is doing direct to agent
and MLS Direct to agent and direct to seller awesome cam is mainly doing agents he
says okay really cool I love to see the
people doing both it’s I don’t know I love when you know just broadening that
and and adding as many different things as you can you know as you kind of go down in your own journey of
course great question that Lisa asked she says why does it seem seem that most are one or the other and not both or
Blended really great question Lisa and I’ll answer that well I I believe the reason for it is because it’s really
difficult to be a master of all trades right I think that when you’re at least getting started in wholesaling it makes
sense that you focus on one modality to start with because most of us getting
into wholesale are starting as a side hustle meaning we’ve typically got a W2
job that helps us pay our bills N9 to5 and we learn about wholesale from YouTube or we learn about wholesale from
somewhere on the Internet or somebody tells us about it and then all of a sudden we want to learn about it and we
start getting involved but if you’ve got a full-time job it’s really difficult for you to focus and build everything up
right one of my favorite things to tell people that are first getting involved in wholesale is that they should
really focus in on one thing and become very very good at it yeah right and so
if you’re going direct to seller I think it’s really important that you do direct to seller and that you get focused on
direct to seller so that you become incredibly good if you’re doing direct to agent again being highly highly
highly specialized in direct to agent so that you become incredibly talented at having those conversations and building
those relationships if you’re doing MLS offers the same thing you need to become highly specialized
and you need to be able to do this at such a insanely um High degree and high level
that people count on you people know you for being that person in that market for
that thing right yes let’s just use me example me me for an example again I
became known in Arizona as the go-to guy if you have a wholesale deal so so many
acquisition wholesalers as well as real estate agents they had heard about me and they they had heard this Jam guy he
apparently is really good at at selling deals or he’s he always closes he always
performs is what a lot of Agents would say about me to other agents and so I
had this reputation around town of being somebody that was serious somebody that could perform and that wouldn’t leave
somebody hanging I I would I wouldn’t let wholesale deals kind of die on the vine I always always figured out a way
to close and so I became known as a reliable person to work with I may not
give you the best price always if I’m buying from you but I will give you a sure thing right and a lot of times
people will bet on a sure thing then they’ll then they will hey try to get an additional couple thousand dollars out
of a deal but then have to worry about whether or not it was going to close so for me being reliable being a sure thing
always served me always served me that’s that’s really good advice for
people getting started it’s like just focus on that one thing I think that’s in in much every different part of our
Lives as well it’s like you can’t when you start to be like the Jack of all trades but you haven’t got to focus in
yet on each of those things individually then some of those things can suffer it’s just kind of how it is because
you’re spreading yourself so thin so totally agree with you totally agree with you now you know landre you have a
good opportunity to talk to so many people within the batch Community what have you found is people’s
main specialization in this when you’re polling community members in the batch
Discord I have also noticed that most people are Acquisitions in there within the group and a lot of people I’ve
noticed more coming into direct to agent or agent Outreach and kind of branching out into that but most that I run into
are Acquisitions Focus focused on Direct a seller that I’m you know that I’m familiar with um so far which is it’s
been pretty interesting though for me to see it switch around or certain times and C certain groups in different
trainings that sometimes the majority will switch over to a different kind of group but absolutely interesting to see
funny enough U if we can put Lisa’s comment on here up on the screen because I think she she makes a really really
good point Lisa says she completely agrees about being stretched too thin
and accomplishing little my goodness have you guys ever okay how how many of
us had a dad growing up that would do things around the
house not so much you not so much no okay well I um okay I’ll be honest my
dad Al also was not that guy okay my my dad has my dad is about as handy with a
hammer as I am um and so just oh like that kind of things around okay
yeah yeah that that stuff you would do yeah okay so you had a dad you have a dad that would do a lot of stuff around
the house right so yeah so do you ever notice how if if mom had him asked him
to do hey uh would you fix this uh in the garage can you help me you know
there’s a leaky faucet in the bathroom can you repave the driveway and can you
give us some new laminate flooring in the house if you come back and look
maybe six months or a year later there’s like seven different projects started and none of them are finished yep I’m
not saying specifically your dad because I do know your dad finishes a lot of what he starts because let’s be
real okay so it’s happening in your house right now I don’t even have the quarter round down on the because I
replaced all of my Bas Sports I haven’t even finished the quarter round because I’ve already started other projects so
yeah I get that so interesting right that when you when you are of the mindset that you’re going
to do a bunch of different things what ends up happening is you just build up little piles of everything yeah and when
you build up little piles of everything you actually don’t accomplish anything
because you you get you get far you get a little bit far in one in one thing and then you get distracted and you move on
to the next activity you build up a little bit of that and then you get distracted and you move on to the next activity and so on and so forth
and there you have it you just get a whole bunch of nothing right so I really
highly suggest that everybody watching right now make a decision draw a line in the sand make a choice decide if you
Acquisitions or if you’re dispositions and if you are Acquisitions then you need to make a determination if you’re
going direct to seller direct to agent or MLS I think you can blend MLS and
direct agent together because they’re they’re they’re yeah very similar but I think if you’re going direct to seller I
think you should just go direct to seller I think if you’re going direct to agent I think you should just go direct to agent I think that you should become
really good at one thing before you start doing another thing right and so to me really honing in on your skills
sharpening your skills and becoming a master at one thing will make you the
best at that and then you can leverage other people who are the best at other aspects of the business and then you’ll
see that your business will actually go like it’ll flourish and that was something that your brother and I did
really well Landry is your brother is one of those guys that really talented at getting in front of a seller building
Rapport solving a problem getting a deal under contract and bringing the contract home but guess what your brother is not
so good at comps he like it yeah exactly right yeah he does he doesn’t like it
okay he he he he even to this day he’ll tell everybody he ask that asks him if
if Pace morby has a deal that he needs to have compt he just sends it to me he’s like I’m going to let this guy do
it because he’s better that better at it than me and he’s going to give me an answer in 30 seconds and I know that that answer is going to be correct right
so right again just one of those things that he doesn’t have to specialize in because I have right so yeah the fact is
is because I was so good at comping because I’m so good at understanding value what did I start attracting to
myself people started coming to me for buy numbers for every one of their deals
which made the go-to guy to JV with right so just specializing on being able
to comp well just specializing on being able to comp well created an entire
brand for me it created an entire business model for me you see how powerful really specializing in one
thing can be for you now look at your brother your brother being so good at talking to sellers that he built an
entire brand out of being so good at talking to sellers he he he’s not only
so good at talking to sellers he’s is incredibly talented at help at talking sellers into giving you their houses and
their loans yeah right so he’s and he’s taught thousands of people to be able to do that as well because he specializes
he specializes in one thing right so so true with it like if you think about a
team in a team everybody’s not doing the same thing somebody has something else
to contribute you turn to that one guy because he Specializes in another area and the other person on the team can
help you better with this certain area uh I I see that a lot um in even people
in my personal life that I’m like I know you want to do everything but it’s like think about how somebody else can come
to the table take that off of your plate that you’re maybe even not so good at it
and then you can focus on the things that you are good at and passionate about too which I think is so cool to remember with this right like I I I I
100% agree so now that we’ve kind of determined okay we we understand we’ve done some market research we know what
the migration patterns are we understand where the money is coming from we understand the AG group of the people that are there we know where the
activity is going and now we’ve made a determination on how we want to approach the business right we’ve decided we’re
Acquisitions or we’re dispositions and then within Acquisitions we made a determination on how we are going to be
going about getting our deals now the beautiful thing about the batch platform guys is that you can both go direct to
seller and direct to agent using batch leads right so you don’t have to go to
different platforms to be able to specialize in Acquisitions in in with
using batch you can go both ways right you can go go both um uh um direct to
seller and direct to agent so if you could Landry show us how that’s structured in the batch platform for
those who have yet to open it up and see what it’s all about yeah I definitely
will break this down and also I feel like this is so fitting for how we’ve rebranded the show of batch to basics of
course but what I think is so fitting about it is that it’s it doesn’t have to be complicated with having you know a
different um maybe different thing that you look at for every piece of information you’re trying to obtain you
know you can pull these list of direct to seller or go and talk to agents or pull on or off market so I feel like get
so nice to be like oh what am I going to do you know this is what I choose and I’m just going to go click on it in the same page I don’t know I think that’s
pretty nice and just simplistic uh but basically and we can pull up too uh we’ll kind of look at
Tampa like we’ve been talking about today uh to be able to like pull up some buyers but let’s just say like property
search essentially what this page is is just a place where you can pull if
anybody’s like brand Spanky new what you hear a lot is pull a list I know that
I’ve run into people and they’re like what does that mean right you know like that’s another one of those things we
say so often but it’s literally just a list of addresses after you’ve applied some filters you know are they listed on
the market are they off market and they’ve been owned a really long time uh you know have they defaulted on their
taxes there is their property in pre-foreclosure currently have they owned it for 10 plus years do they have
high or low Equity like all of these little things that allow you to start pulling that list like let’s just say
that we’re looking for um you know properties that are off Market we
applied these or got these filters in here a couple weeks ago where you can just click a button and it brings up
some of I guess I guess some of those foundational or commonly used things when finding those off-market
opportunities and you can adjust them so maybe I don’t like that the system has a minimum of just a year and maybe I want
them to be owned for 10 plus years years or seven plus years or whatever you know
you can start to like we’ve talked about in previous episodes every filter is like adding to that picture that you’re
painting in the list of people you’re pulling you know interestingly enough I just got a text message from an astro
Community member who is partnering with a sub to Community member so we’ got we
got we got a little marriage here between uh Astro and sub 2 and they’re going to be going after creative low
Equity deals and I promised that I was going to show her exactly how to find that type of person so Landry right what
would be some of the characteristics that would tell us that there’s no
equity in a deal if we’re looking for that kind of property right now any any ideas I well are you talking about like
pulling it up in here yeah like what what would what what kind of list do you think would be a potential good creative
sub2 list I would say pre-foreclosure would be great yep pre-
forclosure also I would say tax default is good tax default but I think one of
my favorites would be because we if we’re thinking about sub two right when were the majority of the really good
loans originated I’m talking the two three 4% loans when were they when were they mainly origin
origin when 2021 2020 all the way to 20 20 like 2022 so
I’d even be going far as as far back as 2019 to like 2022 okay I would be looking at
uh yeah so 2019 to 2022 okay wait that they bought the property correct and I’d
be looking for and I’d be looking for Ryan says 2021 I think Ryan’s actually correct uh because 2022 is when things
started to go a little bit wonky so let’s let’s actually cut 20 two out of the picture let’s say 2019 to 2021 and
then and then let’s look for no equity can we look for no equity 2019 to 2021
2021 so the end of 2021 yes
yes cool let’s take this High Equity off of here and what would you say for low
Equity like would it be even less than 10% as the max or what would you usually
yeah I would say I would say um 10% is the max maximum equity for sure y let
see what we got let’s take this off we don’t care about
that has batch is is it’s is batch starting to um have any of the canceled
and expired listings as well yeah oh my goodness guys if you’re doing creative
Finance I if you don’t have batch and you’re doing creative Finance you are
you’re you’re you’re like messing up um by the way guys if you go to bat leads.
ijam and you use the code Basics that’s b a s i CS Basics b a s i CS I said c b
a SI I CS forgive my dyslexia Basics not back six you’re
gonna get 50% off your first month as a thank you for watching the show and also
taking action um so again go to batch leads. ijam for 50% off that that uh that discount won’t
last forever so make sure you take advantage of it while they are being generous it is the holidays and they are
generous right now so take your 50% off and be happy about that all right so so
we’ve got low Equity B let’s do it in DF
know I know that my my Community member is in Dallas okay cool okay let’s do it
in DFW I want I just want her to see how many leads she’d be able to call from
available okay so with this we just have residential single family right now off
market last sale date was anywhere between that time period and has less
than 10% uh equity and there’s a little over 1100
1,00 records to call beautiful so haay if you have if you have tuned in that’s
your list girl that is your list now on top of that on top of that I would be
looking at canceled and expired so let’s P up let’s first pull up expired
listings and I’m going to explain why if you are doing creative Finance why expired listings are so powerful Okay so
you pull up expired listings in in DFW either this way or down here I was
now that we’ve changed some things I’m like what is the way that I like but it doesn’t matter it’s the same thing but
okay so now we narrowed it down to much smaller but there’s 13 that are coming up with that so sorry one more time you
have 13 canceled or 13 expired and that’s just for the day or for the month this is this is from that time period
that’s getting pulled up so maybe I’ll take off some of my filters as well yeah let’s let’s remove all those filters and
let’s just see all of the expired listings for the month the the most
fresh expired listings in DFW right now
2300 2300 let do for the last month I forgot about that do
price doing expired in it’s harder with like
expired on in a time frame that’s what it is I want to do the listing price sometimes you know playing around with
this stuff and thinking outside of the box uh to get the best ones on there so let me do
listing date the reason why as she’s as she’s
pulling this up guys I’m going to explain why expired listings are so so powerful for Creative Finance well
here’s the thing right an expired listing means that this
seller had a real estate agent that was unsuccessful in selling their property
now there could have been a couple of reasons why it expired because a the seller was
too like bullheaded and would not reduce their price it could have been where a listing
agent completely be bull crapped their seller and lied to their seller about
what they thought they could sell the property for so they set an unrealistic expectation of price it could also be
that this seller owes more on the property than what the property is
actually listed at and that right there you know what Landry now that we’ve now
that we’ve said that let’s see let’s see what was expired
um that had been bought between 2019 and 2021 can you pull that up okay so the
last sale date in between 20120 to 2021 2019 to 2021 okay let’s do that yes
expired listings can also be great wholesale deals as well cam yes absolutely absolutely they
can in fact there’s a video that I did with Monique Walker on my YouTube um
where we’re calling cancelled and expired uh for the entire video uh you
should go watch that it’s on my YouTube channel don’t do it right now because let us finish here um but it’s a
phenomenal video if you’re wanting to listen to some of the scripting on what to say when you’re calling um canceled
and expired listings how many come up in in in DFW right now
445 okay guys look at this 445 potential houses okay that have a
low interest rate on them okay that’s this interest rate on this house is going to be either two three
4% two three or four percent so cam this wouldn’t be a good wholesale list to
call not for cash offers okay right this would not be a good list to call for cash offers why because these guys have
no equity they have no equity in fact if I can the pitch on this would be so easy
for Creative it would be so easy for creative because these guys were
unsuccessful on selling their property and the and the a good reason why I bet
was because they owed too much and the house wasn’t in like top retail
condition so the buyers weren’t interested in taking the house because it needed a little bit of work but
didn’t need a full remodel it just a little bit dated there’s not enough equity in the
deal so they had to price the H the H the house too high and it expired and I
bet you that agent has no clue about how to do Crea a finance so if I was had who
who had uh messaged me about this I would take that list that she just pulled right now I would call every
single one of these people I would skip Trace that list at batch I would call every one of these homeowners I wouldn’t even call the agent I’d call the
homeowner and I would ask the homeowner I would say listen I noticed that you had just can your that your
listing expired on your property that you had available to sell I did a little bit of research on the property and it
seems as though your property was listed a little bit too high for the market and I think
that’s because of how much you owe what if I was able to buy that property and
just take that mortgage right off your hands and and and you could move on with your life and move into a different
property and if I was even able to put some cash in your pocket would we be able to do a deal together and help you
get this house sold I’m telling you that list would be so powerful we’ve got to
call that list actually Landry we we need to call that list because I think that there’s such a huge opportunity in
calling for Creative that the next time we’re on this we’re actually when’s our
next when’s our next episode Landry I think it’s the 30th because isn’t the one because it was supposed to be
Thanksgiving and I think that’s it yeah so we’re moving it so it’s going to be in three weeks
okay guys mark your calendars because Landry morby and I are going to be back in three weeks and we’re going to be
calling this list pitching creative it’s something I don’t even typically do oh
there you go see but let’s do it who’s in who wants to see me Pitch creative if
you want to see me Pitch creative put right right in the chat sub
to if you if you want to see me Pitch creative WR in the chat sub
to I think that would be awesome I think that’s what’s so cool about this too to
to show the power of like okay can we do this that or the other and just make those little adjustments okay that’s you
know that’s not the number we want so why don’t we make an adjustment with this filter this that or the other I don’t know I think that’s the power in
tools like this amazing all right guys you got you’re gonna get it I’m gonna do
it okay November 30th I’m gonna be that’ll be that’ll be great we’ll see
if Pace will come in and make fun of me while I’m doing these November 30th Jam pitches creative I’m just like falling
out of my chair over here uh I think it’s going to be a phenomenal day um but this is what we’re doing guys we’re
getting back to basics we’re going to show you guys step by step how to find a list how to pick a market how to pick a
niche and then go after it right so today we went over understanding first
and foremost deciding what Market you’re going to be in then we looked at making
a decision on what whether you’re going to be Acquisitions or dispositions and if you’re going to be Acquisitions what type of Acquisitions you’re doing today
we have determined that the next time we’re on this we’re going to be doing creative Finance acquisition so you’re
going to be watching me for an entire hour pitch creative terms to these
homeowners that had expired listings for properties they bought between 2019 and
2021 so Landry if you would have that list pulled uh closer to the day though actually because I want it to be Super
Fresh when we call okay because you know these expireds they happen every single day so I want to get the the Super Fresh
expired listings um but this is what we’re going to be doing our next episode
and every week every other week after that guys we’re going to be going back to another basic we’re g to be picking
another Market we’re going to be picking another list and we’re going to be then showing you the following week how to
pitch that type of deal this is how Landry myself and batch believe we’re
going to help hundreds if not thousands of you guys get your butts across the
line to success to getting your first and many many more deals done after that
it’s our promise to you to continue bringing you guys value to be to continue bringing you not only Advanced
lessons in this business but really showing you how if you’re brand new at this if you’re tuning in for the first
time ever how you can do this business with very little money and just a little
bit of effort on your part again guys do me a favor get to bat leads.
ijam use code basics for 50% off your first month and for everybody that takes
action and does it this week between now and our next episode Landry what should we give them I think maybe show you know
I’ve been thinking maybe we should show somebody how they can pick a market and like walk
them through on the show I love it okay Okay who wants to be a guest on batch to
Basics where we where we actually will do it all for you we’ll help you pick your market will’ll help you uh pick
your whichever modality or whichever whatever your strategy is going to be we’re going to pull the list
for you and we’ll pay for your list we’ll pay for your list as well but you
have to be a batch client so the only way and we’re going to bring you up we’re going to we’re going to give you
we’re going to email you a streamyard link so you’re going to be our co-host you’re G to be our co-host for one of
these episodes now guys you have to be a batch client in order to be considered
so between now and November 30th make sure you go to batch leads. ijam enter
code Basics and we will select yeah and then
if you want to be if you want to be considered to come and be our co-host you’re going to have to email Community
batch services.com oh whoops batch service I was about to say I don’t want
you guys to have the I probably typed that wrong all good let’s do it one more
time there we go uh Natasha just without the S sorry
for the typo but just batch service.com community at Batcher
serv.com it’s up on the screen right now guys Community bats service.com now guys
don’t leave yet quite yet we are at the end of our time but I just released a video on this channel so please don’t
leave okay all 120 of you guys right now watch the video that I just premiered
right now on my YouTube channel don’t go anywhere watch the video first it’s a to the Moon episode you’re going to want to watch and get super inspired before you
get back to your day Landry and I are going to see you guys back here November 30th where we’re going to be calling
creative deals and we’re going to be bringing up one of you to be our co-host
until then Landry morby and I are taking it batch to Basics and we’ll see you guys back here November 30th thanks guys
see then now don’t go away make sure you watch that next video later
