How to comp properties fast with Batchleads

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what is going on everybody we are live but hey actually I want to do a countdown I just found out you can do
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this so let’s actually do this countdown I’ll be right back David all right let’s do [Music]
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it [Music]
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hey that was classic that was classy huh that was perfect yes sir okay everybody
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so if you’re watching live what are we going to do today we are going to show you exactly how to run comps using batch
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leads 10 properties in under 10 minutes can we do it we’re about to find out guys because look running comps it can
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take all day it can take take years it can take as long as you want I’ve talked to new investors that like they’re run
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they’ve been running comps for a long time you know and they almost use it as an excuse they’re like oh I just got to
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run comps uh and I’m like wait hold on have you even talked to the seller to know if they want to sell and they’re like no I just wanted to know what I
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would offer before I even talk to him I’m like complete waste of time right David all the time it happens all the time because and then how many times
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have you done that um and then you go to call them and they don’t pick up yeah bro that’s the worst it’s like hey you
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you do all this research before because you’re new and you want to be prepared and then they’re not even selling or they don’t answer or you have you can’t
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even get the right info you can’t even skip trace the right info for some reason right um so everybody that’s
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watching let’s go do let’s dive in because if you take too long like I said it will it will kind of slow the flow
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and we’re going to show you how you can use batch to uh do that so I got my vboard I can’t show you guys on my
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computer because this is uh streamed on YouTube and if they it shows the the information on my computer screen when I
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share it of batch then they’ll flag it because it’s it’s got like personal information on it so I’m going to show
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you on my screen you’re gonna have to try your best to see it at least follow along with me so here what we have we’re
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going to be going through today is there’s a wholesaler I’m in the Orlando market right now and there’s a wholesaler his name is Nash but his
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company’s called Nasty he’s got the nasty deals all right and uh we’re gonna look at some of his nasty deals and see
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if their deals are not quickly and uh and if they are great we’re going to you know we’re going to analyze them and but
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look there’s enough deals that wholesalers send out that agents send out that you can analyze and the cool
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thing is um usually like when a wholesaler sends out a deal their asking price is usually where it should be a
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deal that’s usually where it should be a deal right David if they’re actually if they’re running their numbers the right
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way right yes ideally it would be nice to just give that price to somebody and that’s it it would be nice but
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unfortunately that’s not always the case so we are going to go right here so this is 928 Edge waterer Circle so we’re
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going to find out really what is the arv of this property what could it sell for and uh if the price of two 21 is
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actually a deal and I actually already know the answer to this and uh because I I already asked a buyer what he would
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pay and it was we’ll talk about that but let’s go right here so you guys that’s the property we’re looking at right now
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um let’s run some comps on it so if you guys can see my screen back here what
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we’re going to do with batch leads is we’re gonna go here to the side where it says uh property search and then we’re
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going to type in that address which again is uh
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928 Edgewater Edge waterer Edgewater Circle Edge
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waterer Circle and Eustace Florida okay so once
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you press search back that should find the property uh details for you and
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right here it says that it says that the house is pending I don’t know if you guys can see this but pending means that it’s uh under contract it’s on the MLS
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so we’re going to go to details so right here we see that the house is listed for
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uh 247 so this property is actually on Market but nasty got it under contract
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for less than 221 and he’s trying to sell for 221 so that means you know he’s
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trying to make who knows who knows what he’s got under maybe he’s got a 5k spread a 10K spread I don’t know David
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you know what the really cool thing about this is um if you can see here I
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actually can zoom in on that bro that’s freaking tight nice it says uh 297 is the uh estimated value of this
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property David that’s that’s freaking solid that’s spoton because me and you
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talked about this property yesterday 297 for the estimated value is is legit like
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right right on right on spot like what this house would be worth fixed up so thanks to batch we we just ran the comp
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you can trust that that works now the problem there’s a couple problems though trusting just immediately the the value
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is there’s some states that are non-disclosure and it’s a you know you’re not going to be able to get a good accurate estimate whether it’s
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Zillow red finin or anything it’s going to be kind of tough another thing is if you’re in an area where there’s a bunch
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of different properties that like there’s a million-dollar house next to aund Mill 100,000 house it’s going to be
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tough so I don’t always trust that but I just looking at I’m like that’s freaking spoton so what do we do here we go to
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this part where it says comparables all right so what this
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does is it takes over here on the far right if you guys can um if you have
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batch you’ll be able to see but I’ll zoom in it what it does is it sets predetermine filters it shows property
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class it will do single family if your property is a single family it will do a uh house it will do it will check sold
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active and pending it will do it within the last 12 months anything built within 10 years so that’s that’s something that
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I think we could change I don’t think we need to find something that’s built within 10 years because in some areas it
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doesn’t really matter right David like they be built within several years of each other and they’re still kind of
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similar so I’m going to change that to within 30 years because doesn’t really matter yeah with Florida I would think
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the the structure is more important agreed like a concrete block
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to concrete block exactly um and then you can go over here and they got ignore
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bedrooms and bass you can you can put the certain amount of bedrooms and bass you can do square footage locate within
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five miles you can shorten it to like one mile two miles obviously the closer you’re going to get the better the comps
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will be a lot of Agents they’ll just like go within like five 10 miles just looking for the best comp and
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unfortunately that’s what a lot of wholesalers do too and that makes that can kill your deal if you’re comparing with something that’s like like far far
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far away right yeah and for anybody who’s curious I’m following along with Nathan on my
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phone app which is actually very user friendly so I’m uh everything you’re doing on on your desktop I’m able to do
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uh seamlessly here on on the app and it comes up nicely no exactly the app is
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money and if you guys have a specific uh I think a program or tier with them you
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can also use it for driving for dollars but anyway we’re going to scroll down here and we’re going to see that the
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comps that it’s giving us um there’s several several comps in this area so we
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can actually trim this down to a smaller area you could uh change the uh let’s
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see the location I’m actually going to go within two miles let’s see what that looks like so we’re going to filter
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that okay so we have uh so I’d actually
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even look at some of these properties to see what they look like when they sold so this one sold for
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$379 that’s right on you can see this is right by the water so a property that’s right by the water is going to sell for
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more than one that’s not um this one sold for 315 you can see if it’s rehabbed or not
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you can like dive in and do your due diligence um on that but we’re just going to go since I’ve already kind of
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done this we know that uh this house because it was built a little bit older than some of the other ones that have
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sold for 310 this one’s right around like 290 297 okay um so let’s run the
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numbers now so you guys can see how I determine quickly if this is a deal for my buyer so we go to my
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calculator so if the house is worth 299 batch says 297 we’ll go 299 and nashy is
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asking two 221 is this a deal for a a
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buyer um so you got to check out their hard money money their cost because they’re going to have to hold the property and flip it so it might take
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them four months if you look at the pictures you see the house is not terrible but it is outdated so we’re going to give it a medium rehab and it’s
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about 1,67 47 square feet and we can see right here that if a flipper buys it at 221
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and uh sells it for 299 after four months of work and paying all the fees and the uh hard money costs he’ll make
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$113,000 on this deal uh not a good not a good return on your money in my
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opinion four you you’re going to work four months and risk all that time and money and labor to make uh 13,000 I
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think there’s better ways to make money you could probably find yourself a better deal so nasty we love you bro but
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your deal is nasty it’s not good it’s it’s not GNA work so I actually talked to a buyer I said hey buyer this one
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kind of fits your criteria where would you be he says I’d be at 190 so do does
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190 make sense yeah it makes complete sense because the guy’s going to make 15% on his money um 15% of uh $ 299 the
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arv and $45,000 $46,000 profit somewhat so when you talk to buyers most of the
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time they’re going to want to be uh they’re going to be wanting to make 15 10 to 15 and up percent of the arv so if
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this house was worth half a million then they would want to be making you know
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over 50 ,000 right over 10% of the arv so that was a quick demonstration
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everybody of how to run a comp now I’ve been talking so I’ve been able to do 10 deals in 10 minutes but as you can see
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it’s pretty it’s pretty easy let’s let’s do another one David do you have anything to say while we’re looking at
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um I kind of had a little bit of a question uh when it comes to and maybe
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it’s just a brief sentence between you and the buyer um or you and um the
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wholesaler but what it comes to repairs are you kind of you’re doing some of the estimates yourself and then when you
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bring it to the buyer you’re like hey I think these are the repairs what do you think and uh kind of wouldn’t ask about
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that yeah great question David So for me man I use I use this uh this basic
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formula $18 per square foot 24 in everything and basic is like carpet
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paint um medium is uh carpet paint kitchen and bass okay and then
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everything is like studs or pretty much roof you you throw in anything on top of kitchen carpet uh and bathrooms and you
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have additional stuff like Plumbing let’s say you got a bunch of stuff it’s it’s an everything job so my numbers
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like a lot of people fluff these up and they increase them like $20 for the basic they like 30 and 40 um I keep it
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at this and it’s worked pretty good and this is all I do and to be honest a lot
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of uh buyers do the same thing like they’re not going in I don’t know how many walkthroughs you’ve been at David
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but a lot of buyers do not like go in and like do 100 line items yeah they don’t right they just kind of give it a
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a big estimate and you know what good buyers do not good for us because we want to make money but they just they
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just make a big big estimate they’re like that’s 120,000
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you’re like bro you could do this for like 80 or 60 they’re like nah but you know what they’re doing is they’re just
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making sure protect know I get it I have that combo every day I get it and and a lot
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of the time is they’ll try to protect themselves but it’s also you never know what you’re going to run into when you’re you’re coming into that rehab
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they’ll get out bid yeah sometimes they’ll get out bid you know it’s pretty common especially if you know in my
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market particularly too they’re they’re willing to let the arv potentially be higher because but yeah and what I’ve
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seen I talk to a lot of guys is that have lost money on flips is they’re like bro I I I budgeted I wish I would have
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budgeted more because we we started tearing stuff down then we found this we found found
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so you know as wholesalers we see a bit we see a very um this is very prevalent
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this happens a lot like what you’re seeing with nasty nasty you know all
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respect to nasty but you know he’s trying to find a specific buyer that will buy this but and we just ran the
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numbers it just doesn’t make sense at 221 that’s why it’s on the MLS at 247
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there a lot of people will put a property on the MLS just hoping that like uh a family buyer will move into it
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and fix it up but like when it comes to working with flippers and what we do we need it because you know we if we bought
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it at 221 which is discounted from what’s on the MLS we’re gonna pretty much lose money you know with all
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everything we have to do so a lot of people think we’re unreasonable we’re we’re trying to like uh screw people
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over it’s like no man the number it’s expensive to flip homes you know there’s a lot of costs that are involved so all
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right uh let’s look at let’s look at another one let’s see how accurate uh we can get how fast and accurate it is so
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nine2 you can read that for me right oh my bad it just went with go
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away all right I got it right here 912 Holiday
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Lane leberg Florida okay so all I did is I typed it in I go to search let’s see
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what the VA the estimated value is now a lot of people if they don’t want to just trust Just One Source they’ll go to
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batch leads they’ll go to any other software they have they’ll go to redin and Zillow they’ll put all four and
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they’ll do an average estimate and they’ll say hey that’s what all these systems are saying this house is worth
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let’s just take the average right of what these house what it’s saying so right here I’m looking at this property
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uh batch is saying that this thing is worth 287 okay so it’s a four bed bedroom one
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bath and it’s saying 487 sorry uh 287 now let me see if uh let’s just take
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kind of like what I just told you let’s see if Zillow
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agrees okay so I don’t see a Zillow estimate on here um you know what they
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might I think when you list a property they take away the Z yeah yeah yeah that’s true
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the format changes too no for sure but look so batch says 287 on the value they
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have it listed 272 uh so they’re they were trying to
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list it pretty much what batch thinks it’s worth and then according to the information we have oh I’m not even
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sharing my streen my bad guys I typed it in here um here it is so they’re trying to list it it’s on the market for
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272 they are um let’s see but nasty’s
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got it for 162 so yeah he’s he’s a lot lower than where
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um the value is so this might be a good one right this might be a good one to send to one of my buyers uh and I I I
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can probably say that that’s probably pretty accurate is like two batch again crushing it
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287 right here I would say that’s that’s fairly accurate U if you guys can see that 287 on the estimate
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and then again you can go to the comparables and you can just double check uh but if they have it listed at
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272 which I believe they think was probably they were crossed their fingers hoping someone would buy it but it’s
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been on the mark for 70 days and nobody wanted it so let’s go back to the calculator let’s see if it’s a
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deal first let’s take a look at some of the pictures so let’s see how much of a rehab does this need to get to 287 which
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is arv oh my dear that’s like indoor pool IND pool but an indoor ghetto pool
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luxury ghetto Bro Look yo how would you like that man to have a nice indoor pool
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right in the middle of your living room dog I mean in theory that’s wild yo with
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the boat with the boat if the boat’s in it it’s worth 287
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100% yeah that seems to that seems to stack up too um with the other comps
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because I see like a 4-1 but it’s like mad nice um that sold for 360 but that’s
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also a little bit bigger it has another bathroom um so when you take those factors in consideration like just being
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under 300 seems to make sense bro can you I I would even say that the the pull
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inside the house makes it less valuable like who wants to pull inside like their
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Liv yeah unless that’s like the room right next to the outside but still like it doesn’t look like like those look
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like regular wall like sheetrock I don’t think it should be like that no I agree with you and I think the
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issue is like pools are very expensive bro like I’m sure to even restore this to get it going it’s probably very
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expensive so that’s probably a big reason why this thing has not sold um oh yeah that’s that’s tough man that’s I
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don’t even know how to throw in the Rehab on a pool like that dude like indoor pool no I haven’t uh never
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haven’t dealt with that one yet so Nash’s got it for 161 um it’s going to be that that rehab
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might go up another 15K right there yeah because it’s 2,600 square F feet so and
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I to be real bro this’s going to need everything so even at nasty’s
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Price 161 you’re at 5% where this needs to be for someone to really probably
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want to buy it bro like 120 120 if you got it 120 you
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probably could wholesale it to a buyer for like 127 and you’d have to find like the right buyer that’s like all right
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I’ll take on something weird like this I’ll take that indoor pool yeah so again batch strikes again and they show us
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that uh quickly instead of having to run your numbers and do all this you can just quickly see now when you’re making
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offers to um let’s see if you’re making offers to
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off-market sellers that you know you you definitely want to do maybe a little bit more due diligence if you run into
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someone who’s like yes I want to sell you don’t want to just go like with one number one estimate and then just go
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make him an offer because that might be wrong you never know but it’s to a wholesaler I would say hey like just
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make him the offer that makes sense and if you have a buyer obviously you don’t want to be just saying hey I’ll buy your
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house and then let me tell you something that actually happened me the other day bro this fired me up so I got a house in
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probo one of my uh one A buddy of mine was like hey dude can you help me wholesale this can you wholesale this to your buyers list will you sell this for
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me I was like yeah I’ll find a buyer so I’m working uh with Nelly who I partner with and she was talking to some um some
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buyer right and he’s she’s talking to him he’s saying yeah we’re gonna buy it like we we we have the arv at like 510
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and we’re ready to go so then she’s ready to send him over the paperwork and before he makes his final offer he’s
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like hey is this contract you’re signning to me is it assignable and I’m like and she’s like hey she calls me she’s like hey why is it uh why does he
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need the assignment that we’re signing him to be assignable so he can assign it and I was like well sounds like a
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wholesaler so I get on the phone with him and I’m like hey man um so I’m just curious like we’re going to sign this to
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you you’re going to put EMD down like why do you need it to be assignable he’s like well you know we buy houses but
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sometimes we don’t if it doesn’t make sense like we’ll we’ll find we’ll assign it to someone else I’m like whoa whoa
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whoa never heard that script before I’m like no I get that I get that you can assign other stuff but if you’re going
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to buy this you’re there’s no reason to assign it he’s like well we always put this in our paperwork I’m like dude this
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forever like you don’t have to play with me me like you going to buy it or not and he’s like no we’re going to sign it
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and I was like well you just wasted all your time because we wholesale and we’re looking for the N buyer like we have the
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list that you that you have you can run it by your buyers but not gonna go under a contract for seven days and just wait
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for you yeah you can’t perform yeah no yeah go ahead David go ahead and then
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when you can’t perform I look bad or everybody looks bad Nelly looks bad team looks bad seven days it’s not like a
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direct to seller it’s a wholesale that means that’s relationship you know so that’s that’s dozens of leads
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potentially Yeah man so it was just really interesting to me that like
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that’s how a lot of wholesalers come off man they’re like yeah we’re gonna buy it or we’re gonna sign it and it’s like
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dude just be real and that’s what I preach to everyone here is like if you’re gonna work with a wholesaler or an investor just be like hey do you mind
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if I run this by some of my buyers and if you’re going to work with a a off-market seller make sure you can
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actually do the deal or don’t just tie up and waste their time like no offense to to to anyone
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that does this but if you get someone under contract and you have no idea if it’s a deal but you just want to try it
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you’re wasting their time you just made us all look bad as wholesalers just so you know yeah you made us look bad and
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not only did you make us look bad you just wasted a lot of your time you wasted a lot of your time energy effort
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and it’s very demoralizing to like be like yeah let me I’m gonna get paid and then it’s like all these buyers come
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back like bro I’m 100K less than what you have this thing for or whatever so
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just make sure guys be open and honest especi alwayss in everything you do but don’t don’t try and play games bro like
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yeah I’m gonna buy it and if not might it’s like just be real okay it’s either
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you’re gonna do it or not because I’m about to make you put down non-refundable earnest money yeah you
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can’t then I know you’re not buying it and not to um you know 100% not
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understand that script or that way of saying you know hey like I buy but like
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I do that but that’s for like that’s not that’s for an intro call and not what we’re talking about the literal deal
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we’re talking about right now like okay I understand but that’s you still have to decide in your process what you’re
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gonna do with this property so have you decided what you’re going to do with this property yet or you still don’t know if you’re going to buy it or assign
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it if you don’t know that you’re GNA buy it then we can’t work on this one this
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way together right way better conversation if he would have started out and said hey we got a lot of buyers
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this one doesn’t work for me but I can check with my people to see if it work for them great man go ahead and check
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check check the whole world you can ask everybody um but I’m not gonna just like sit here and wait for you like go ahead
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and check yeah so anyway I just thought I’d tell you that man because it’s funny that just happened yesterday and it was
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like come on man you can’t play you can’t play me n uh so David what we’ve
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seen today is my process for quickly checking a property we go look at batch
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we run the numbers to see where it makes sense now there’s a couple things that I could do now that I’ve run the numbers
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on two two properties I could just go to nasty and say hey nasty I got a buyer or
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I got buyers that would be around 130 on this one would that work without even having to check with my buyers because I
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know these are my buyers numbers my buyers are going to be around here right so that’s what I could do just say hey
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you know um I got someone around 130 so let’s let’s try it let me let me let me show you guys how to do it let’s do
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it all right hold on David while uh while I’m doing this do you have any questions anything I
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should clarify on or anything you want to add um I think uh I think part of this
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process and a big thing to bring up is your analyzing the deal right so it requires a couple skills that we’re kind
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of all putting together here in this one thing we’re uh we’re putting together the skill of comping we’re putting
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together the skill of underwriting we’re putting together the skill of you know social awareness of when to reach out to
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people at what time so if if I was to say anything that’s probably just one thing to bring up especially for anybody
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who’s kind of just jumping into it’s like oh wait like I don’t even know this and that it’s like I get it but if you
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and even with calls like this you can take your time break it down pause it that’s why it’s so great you know and
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you might need to do that step by step okay like so it took me hours to learn like when I first started comping like
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hours like I have six properties like all day like sometimes it would take me two hours just to be honest because like
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I didn’t want to bring it to my team and be wrong and sometimes you know one comp
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might change their mind because it’s a it’s a flowing Market it’s not just like science where it’s like hey like this
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person paid this okay but it’s all it’s really the market what the market will pay somebody’s going to pay for this
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house and there’s no guarantees so an investor always looking at something not as a guarantee like they have to always
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be prepared so just to say like there’s a few skills we’re putting together here and I know it could be overwhelming but
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by I mean things with like batch you’re really just stepping into another world
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of what you could do but with that power comes responsibility so just be responsible with that Spiderman stuff
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you know yes with that power comes responsibility that’s that’s the truth well let’s take a look at this property
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so this is nasty on my CRM I’m going to uh text him and say hey man um I got a
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buyer that my buyers would be interested in this property around uh 130 well
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actually let’s make sure that’s right so 130 is is probably where it would make sense on that one that we looked at
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David it’s about um a 91k rehab um with a pool with a pool I feel I feel pretty
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confident about that oh yeah yeah yeah he’s got it under contract well I don’t know what he’s got it under contract for
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that’s why we’re making the offer sure but uh he he’s asking for 161 you know
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you guys got to shake all all uh like apprehension of making low offers to
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people even other wholesalers that have deals you know why because buyers David didn’t you have a deal the other day that the seller wanted four 450 or 480
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and your buyer hit you at 350 yeah yeah it was actually he wanted 345 okay he ain’t afraid to tell you the
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truth bro he tells me on like every deal I bring to him he it just like goes it’s
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and especially here in New York you know it’s you’re looking at 60% to 50% on
27:36
every offer or else it honestly is not going to be a deal so you gotta get you gotta get kind of used to it and if it
27:42
makes you feel good you don’t really got to do it with agents and wholesalers but direct to seller you can like prep them
27:47
up hey I’m gonna give you this offer please you know I don’t want to offend you but with wholesale as an agents I
27:53
mean the right relationships you can just give them the number like that’s it you know just hit them hard bro they’re
27:59
ready for it uh my buyers I got buy um I’ll say my buyers would be
28:08
interested in this deal at 130k I know you got it for higher but
28:20
that’s that was me that’s uh where it makes
28:25
sense can we make this
28:30
happen and just so everyone knows too like this is because Nathan’s been able to talk with this person and has had the
28:38
conversation of hey like I’ll give you a price but that’s like what my buyer and somebody like this is happy to go hey
28:45
man like just give me the number and like we’ll make it work because he’s smart enough to be like I rather get a
28:51
number in to get an idea especially if he’s working 20 40 deals just getting an offer on one of those is a win for the
28:58
day it is yeah because like I told you guys on this one right here uh I had a
29:05
buyer that offered 190 right so he’s got at 221 so he’s he’s asking 221 so that
29:11
means he’s definitely got it for less than 221 unless he’s trying to make nothing right so he’s obviously trying
29:16
to make something so he might not he definitely doesn’t have it as low as 190 because he said he he can’t make it
29:22
happen but it’s at least some more ammo for him to go back and talk to the um
29:29
the agent and just say hey look uh you know I ran the numbers I need to be around like 185 so or whatever so I we
29:35
can get the buyer involved so you know what I think happens a lot with wholesaling David is
29:43
people think um I think people think there’s not a lot of deals out there there there are a
29:50
lot of deals but the thing is like we’re just not getting them low enough I think I think it’s like a it’s
29:57
like a a conscious thing where there’s just so many deals that may it may just
30:03
seem like that there’s nothing um but you really have to like kind of carve and sift through because think about the
30:09
point of entry to you know do something like wholesaling you could just start calling and putting things under contract you got a lot of ambitious
30:16
people trying to make something happen and then you have people who have experienced locking things up and
30:22
selling them when they didn’t even know how it’s sold for that so they just do that anyway because they’re just playing
30:28
High numbers that’s right I check out this is this is why it’s important to
30:34
like have conversations and make offers as I uh there was this property that I did um that say no pool oh is that the
30:42
other one my bad oh yeah this is the other one yeah yeah the other one says uh let’s see no outside
30:49
pool yes on the pool um so this is what happened to me and that’s what I want to
30:55
stress to everybody on here uh the importance of making offers I called on a property in Salt Lake City Utah u a
31:02
while ago and made the house just got listed it was listed like at arv at like
31:07
450 uh and it really needed to be at like 32 325 320 so I called the guy and
31:14
I said hey uh I’d like to make an offer at 320 he’s like yeah right that’s so low they would never accept that so I
31:20
was like okay that’s all good so then like two like a month later I I didn’t
31:26
follow up I was like whatever that guy’s not going to accept my offer so a month later someone on like a Facebook group
31:32
wrote hey I have a property in Utah I need to help finding a buyer I reached out to the person I said hey I got
31:38
buyers um how can I help it was the same property they had it under contract for like 390 or 380 okay so that guy at 450
31:47
when I offered 320 he didn’t accept it but he came down um to like 390 okay or
31:53
380 so I I looked at the deal and I said hey I’ve actually ran comps on this this thing needs to be like 320 I already
32:00
made an offer this it’s just not a deal that high and they’re like all right let me see if I can renegotiate so they
32:06
renegotiated with the guy and the guy finally accepted like three I think we got him down to like 315 or something um
32:13
and then we I found a buyer for like 340 335 some we made like 25,000 so the
32:19
thing is guys is like even if someone like I just made this I told nasty I need to be at 130 and then this other
32:26
one I be at 19 like they might not say yes at the beginning but if you follow up you know after they get a bunch of
32:33
low offers where they need to be a seller a wholesaler an agent they’re eventually gonna be like this is what
32:38
I’m getting and one more one more example I have an aunt who’s awesome but
32:44
she listed her house at 850 because she’s like that’s that’s what I think it’s worth after a couple months of
32:49
knowing buying it now it’s she’s asked for less and but that’s just what happens people get ambitious do
32:55
it but what helps those people you get the right price well you got to make the offer right and you got to follow up and
33:02
it’s not just a text offer I can text I can text uh Nash because we’re homies but if we didn’t if I didn’t know him
33:09
and I just text him a low offer he’s gonna be like forget this guy and he’s not gonna remember me but you got to build that relationship you got to make
33:15
that call you gotta make that offer and that’s how flippers survive and get deals because they’re making low offers
33:21
and they’re being consistent and they’re getting it done 100% is
33:27
all right well let’s see if there’s any comments coming in from the chat let’s see no it’s been it’s been kind of quiet
33:34
I guess we’ve been answering all the questions um let’s see David anything
33:39
else before we wrap up or anything you’d like me to check right now because I know we were gonna kind of walk through some of your deals this is I did this
33:47
specifically kind of to work with you as well just say hey this is how fast I would do it I wouldn’t even waste time
33:53
you know reaching out to buyers necessarily on a property um unless like
33:59
it’s so hot and it’s already a great deal but if it’s like you’re not sure I would just run your numbers and then
34:04
kind of tell the wholesaler that has the deal like where you’d need to be and if it’s if they’re close they’re like well
34:10
yeah like we’re close then yes it’s worth reaching out you know what I’m saying yeah yeah um I don’t know if we
34:17
could maybe do it off for another call the only thing I had pretty much was two um direct to seller a director seller
34:24
who is planning to sell two properties Within the next four months so that’s a
34:29
little different but yeah yeah we can do that another call plus we don’t want to share that info and have someone you
34:35
know no I don’t think anyone would do that but so let’s wrap up the call so
34:40
everybody kind of knows what we’re what we’re been talking about today if you want to comp deals whether it’s from on
34:46
the MLS whether it’s from a wholesaler um or someone that’s on market that you texted sorry off Market You’ texted you
34:53
can do a quick way where you can just go run in Zillow run in batch you know compare them see if it’s pretty close
34:59
and then make an offer by running it into a in a calculator you don’t have to have a calculator like mine but you do
35:04
need to run something where it’s you know makes sense um after you break everything down because if you just take
35:11
the 70% minus arv uh sorry 70% arv minus your wholesale fee minus your rehab
35:17
that’s gonna be way way way way low always um it’s and I’ll show you guys like why that is so 287 is the
35:25
arv and if you find that you’re better off buying it for yourself yeah let’s
35:32
see by the way this is uh that’s not uh I sent this picture to
35:37
someone not judging you because it’s actually Nathan Valley I thought it was Nathan Valley’s sister if anyone knows
35:43
yeah it says H something Valley so I was like I was like is that your sister bro
35:48
anyway uh let’s see so 287 uh times what is that 70%
35:57
minus a uh on this one we were saying it was like a 91k rehab right we were saying it was like a lot and you want to
36:03
make 10K right so you’re at $999,000 versus when we ran it we’re 40
36:12
we’re like $31,000 higher and that’s because we actually ran the numbers the right way and we um you know but again
36:19
if you do a 70% you’re going to be so low that I don’t think you’ll you really ever get a deal because I’m GNA be or
36:25
there’s gonna be someone that’s going to be to pay run the numbers the right way and pay more right yeah I experienced
36:31
that I experienced you know months months of that of trying to make offers just based on that and
36:39
uh and if you do happen to get one in there then you got a great deal and you’re probably GNA make a lot of money
36:44
but you know if that’s if you just live and die by that rule you’re gonna let a lot of stuff go that was deals because
36:51
again it’s about knowing who your buyer is knowing what they want because sometimes they’ll pay when there’s a slim margin and and um you know that’s
36:58
what they were doing a lot during the pandemic is the inventory was so low that they were buying deals that didn’t make sense and we’re kind of get into a
37:05
period where the the inventory is pretty low in a lot of areas so we might be coming into that where you can find
37:10
buyers that will pay like more than others but you just got to look for them you got to find them and I know David
37:16
you got a couple that uh you know that are pretty good landlord buyers right yeah um yeah I got a couple landlord
37:24
buyers um and it depends on the area and it could be challenging to cash flow around here but yeah at times they
37:31
they’re able to you know pay more um especially if you know could get
37:36
creative but with cash deals it can be tricky tricky to work especially with the rates and how pricey it out here but
37:43
um yeah we come across we have like two landlord buyers um mainly that like to
37:48
bring deals to and they’ll buy them even if they’ve been on the MLS good because some people around here like if it touch
37:56
the MLS like they might not even return your call or or answer any calls after that
38:01
like just because you brought them that one time I don’t get that like if it’s a good deal then it doesn’t matter if it’s
38:08
MLS Craigslist whatever you know it’s weird yeah so there’s guys who get that
38:13
and they’re totally cool with it but I guess similar to where certain guys feel certain ways about wholesaling they’re
38:19
just like bro don’t bring it to me because I already know it’s like well what he knows is that every time he had
38:26
that experience it was not good he doesn’t know that with me it’s a different experience but
38:31
sometimes you can’t prove that to people I mean you could send them you could follow up and prove it and I’ve done
38:36
that right which is why I still share deals with my landlord buyers that I talked to you the other day just why
38:42
they know I’m still actively looking for it you yeah now I think the thing that
38:49
puts a sour taste in most people’s mouth with the MLS is like I’ve seen guys that will get a property on the MLS for like
38:55
it’s listed for 287 and they’ll get it for like 285 and then they’ll be like hey man I got a deal for you and people are like
39:01
bro why would I go with you when I can just wait for you to lose that contract and I’ll just call the agent myself like
39:07
they just don’t have a deal but if you call someone and you like bro I got this deal it’s listed on the MLS for 280 I
39:13
got it for 100,000 or I got it for 200,000 and you’re providing value there
39:18
you go wow yeah man thanks for letting me know that’s a great deal that’s when it works but now sometimes Jerry nort
39:26
was telling me he’s like you know sometimes I’ll lock up a property immediately when it’s listed because it’s just listed at the right price
39:32
where it is a deal and you’re going to run into some buyers that are gonna be like bro this is listed but you’re like
39:38
I dude it was listed at the right price and I locked it up because it’s a deal so it’s a double-edged sword right you
39:44
got like if you lock it up quick and it is a deal at Jerry yeah but you know I haven’t had
39:52
very much success with locking it up at price and then being able to wholesale it
39:57
so anyway all right well we got one question that did come in through for through invest Quest underscore 17 do
40:06
you let buyers walk to property before locking it up all the time so you offer could be spoton invest Quest great
40:12
question um it depends if I have a specific buyer who I think would be a
40:18
good fit and I’m like hey man you want to just come with me I was going to go take some pictures and see the house condition you might as well come with me
40:25
because I think it would be a good house for you um that’s when I would do it and if it’s like I’m walking it to just see
40:31
now where I wouldn’t do that is if it’s like I’m talking to the seller um let’s
40:36
just say it’s off Market I’m talking to the seller and they’re like hey I want 250 and I’m like I can do 20 224 and
40:42
they’re like okay and 224 is a deal then then for me I don’t need my buyer to
40:48
walk it because I already have a deal but if it’s something that’s like I’m unsure of or it’s really tight and the
40:54
seller wants 250 and they won’t go less than 250 and it’s like barely a deal at
40:59
250 I’ll have my buyer go then because I don’t want to sayy yes I can do 250 lock it up waste their time waste my time
41:04
might as well just you know send bring them with me does that make sense David did I explain that the difference yeah yeah and I would agree um that’s as as
41:13
close you can get is always better especially if you don’t know much about it um but if your deal is low enough and
41:19
it makes sense um personally with me uh at least my local market here in New
41:24
York we walk pretty much every property whether it’s my buyer or me literally
41:29
going with my buyer have a good buyer who’s been very cool and let um let me walk two properties with him um but
41:37
because in New York once you’re locked into contract there an ironclad like it’s not like other states where you can
41:42
get out like with New York it’s an attorney State once you’re in contract that’s like the good and bad the good
41:49
part is that seller probably not getting out of that contract but the bad part is you’re not getting out of that contract
41:55
that’s wild yeah that’s wild you locked in bro you you’re new wholesaler and you lock in you know what you’re doing yeah
42:01
and it’s usually 10 to 15K EMD so around here yeah so you can’t really just lock
42:06
up somebody without you know a good earnest money well that’s uh invest
42:13
Quest if you’re watching this still that’s uh that’s the answer to the question and um yeah so David tell
42:19
everybody where they can find you if they want to uh do some deals in tamper in Long Island how can they reach out to
42:24
you yeah my phone number here 63 3495 7586 that’s my personal number right
42:31
there so you can feel free to message me there um also on Facebook I’m pretty accessible on there and Instagram you
42:37
search my name um I’m pretty accessible through there feel free to reach out
42:42
Long Island deals Tampa um Orlando as well since we got some connects there
42:47
but yeah 100% happy to help and take look at things for sure for sure and
42:52
guys I just put my uh the link to uh Bach leads if if you haven’t tried it yet definitely give it a shot it’s a you
42:59
get a 50% off discount with my uh promo code investor Thrive and I think they’re still running the um uh free trial as
43:06
well so you might as well try it guys we just we just ran a couple properties and saw it was spot on on the arv and
43:11
Florida now it’s not always gonna be like that uh depending on the state but give it a shot and run the averages and
43:18
see and you’ll see for yourself all right guys peace out have a good
43:24
one okay bro so that was was good I