The Fastest Way to Find a SubTo Deal (Step by Step)

I could go to any part of the country and go, somebody says I can't find a deal in Wisconsin. I can just go right here into Appleton, Wisconsin and I got three sub two deals right there. Do I have a shortage of deals anywhere in the country? Everybody, we are done saying we don't know how to find sub two deals. I just showed you right here. Welcome to easyland.

Cincinnati, Ohio. We're super excited. This city is actually growing quite a bit. I did a bunch of research on Cincinnati. Even though I've never been here before, I am excited about learning what people are up to. There's a lot of houses is sitting on the market just like every market right now. So if you want a sub 2 or seller finance deal, this is pretty much a layup city. And I think that's what we're going to do tonight. I think the learning lesson today is how fast can I find a sub 2 deal? Should be the learning lesson of today. Pulling up a laptop time me and I'm going to see what we can do. Very similar to what we did in Cedar Rapids, Iowa where I called and it took us about five minutes to get a property go tour the property. That deal ended up getting contracted, by the way, by one of the members of sub 2 in that city. So we're doing live deals. Can't wait to see you guys on the creative nation tour. I've done a lot of deals where I didn't have paid platforms. Let's say I want to find a sub to deal. Let's say outside of software. Right. What are the places I can go get sub 2 deals? Let's go to Derek Bottoms. Okay. He's in Kentucky driving for dollars. Saw a house that was hoarded. Called it boom. Easy. I already drove by probably 100 houses today. Or you drove by as we were driving that. I'm like, that's a distressed seller. That's a distressed seller. That's either distraught seller or a tenant that's a distressed seller or that's a tenant like you can drive for dol. Okay. There was a point where probably I'd say like 2016, that 80% of all real estate investors getting their first deal was coming from driving for dollars, looking for ugly houses and then going on like true people search, which is free and texting the seller. And that went away because it's inefficient. It's not that it's inefficient. It's like think about this. When the horse came out, right? That technology like a saddle Walking was inefficient, but walking at one point was hyper efficient. Right. Okay, cool. Then the buggy came out, then Model T or Model A came out, and now do you guys know about the horse population in America? That whole statistic? We had something like 30 million horses in the United States. I don't know the number. We'll have to pop it on the screen. We had like 30 million horses in the United States. Then the Model T came out and we dwindled down to like 3 million horses in the population within 20 years. Literally a 90 decline.

Why?

Because the technology changed. It's not that horses are inherently bad or inefficient, but they are inefficient compared to the new. So when I say, oh yeah, not a lot of people drive for dollars anymore, doesn't mean that it doesn't work. It just means it's an older school methodology that was free and a lot of people did it because software companies had not caught up to developing things like the way they have now. So you could do that. Another thing is calling real estate agents on like Zillow, which is free and you can filter by long days on market. It's free and you can call real estate agents. It depends. Am I a wholesaler that needs to do a deal a week? If I am, then I need to be lower days on market because I need at bats and more opportunities if I'm just trying to buy four sub 2 deals a year. First off, don't call anybody, just buy deals from sub 2 members. Zillow, Redfin, realtor.com, all of those softwares basically are free for the public and people kind of utilize them incorrectly. You could, you'd never see me using Zillow. I think it's a consumer product. The data is, is really, really bad. Meaning it's old. Right. So a lot of the houses we will sell or they'll sell and then it becomes still on Zillow. It's there for 60 days or whatever. And it's like, it' it's like, dude, a family's already moved into the house, took it off the market 60 days ago. Right? That's Zillow. And they do that because they want more people looking at more houses and whatever else. So if you're an investor, you can use Zillow. Now the best way personally, if you don't have any money is just go down to your county recorder's office. I did a video where I went down to the county offices and I said, where can I Get the water shut off list. Did you. Did you know you could get that? You can go on any city website has a code violation list. I should show this tonight.

Every meetup has been completely different. Completely different how the tables are laid out. How, like, do you see how this is, like, kind of jammed in here?

You got a weird situation, you got.

Games playing, you got regular public here. We've never had an experience like this. We've had meetups in churches, meetups in.

Parks, meetups at restaurants, meetups in bars.

An airplane hangar where the mayor of.

Bentonville, Arkansas came out. They're like, what is going on? That was a really freaking cool meetup.

I want to meet as many people as I possibly can. I will hang out here for three, four hours.

Whatever I. Whatever I can do.

What I find is that I will leave. And then people DM me and they go, I didn't get a photo with you. And I'm like, oh, I didn't think people actually give a crap about taking.

A photo with me.

I just thought we could meet and hang out and talk about deals. So if you guys want to take.

A photo with me, come up to.

Me and say, I want to take.

A photo with you, but I want.

To meet as many people here as humanly possible. So do we want to play a networking game to get us started off? We want to make sure we all go home with resources and help and all of that kind of stuff. Okay, cool. Who has a deal under contract? You need to sell? Any wholesaler. You got one. Antoine, Ohio, Fostoria. Anybody buying in Fostoria, Ohio?

You're buying.

Are you buying in Fostoria? His dad's buying in Fostoria.

Here's what I want you to do. I want you to go over there.

And chat with him, and then we'll.

All break it down here in just a minute, okay?

What time is it? 604. Okay, we're going to go tell Six. We'll go till 6:45, we'll break up, and then we'll do deal finding. Okay, here's the rules. The rules are this. You need to connect with people in your phone.

You need to put their name, what.

They specialize in or what they want to. Because some people are in here new or like, I don't know what I.

Want to do, whether they're doing it.

Or they want to do it.

It needs to be put in your.

Phone, and then what you want to do is put underneath it. What is the need or the thing that they're looking for maybe the thing.

That they texted her.

Those are the three things you need to put in the phone. Okay, let's network. Let's go.

Did you just connect with this gator?

I did. I connect with a lot of buyers because I'm still working on getting my first deal.

Okay.

It's a challenge. I was hoping to go home with a deal tonight.

Somebody grab a chair for Wilmar.

Prop wire.

Okay, so why would I use prop wire? Propwire is free. Okay? So if you're like, I want to find a deal for somebody. Prop wire is free. So you got to ask yourself the question, what am I looking for? What does my buyer want? That's step number one. That's the biggest problem everybody has. Who's my buyer? What are they buying now? How can I find it? Now the next step is what software am I going to use? Propwire is not my number one preferred. I like Dilsauce, but Dilsauce doesn't deal with free accounts. Propwire does. So when somebody's like, I need a free account. I'm just starting out. Propwire is probably a better fit for you. So what are we going to do? We're going to go to current location, we're going to zoom out, and we're just going to be this entire area of Cincinnati. Okay.

Now the next thing I'm going to do is I'm going to go to mls. Active houses that are on the MLS right now. Okay. So we see all these houses in the. In Cincinnati that are on the mls. I want to try and draw. Okay, cool.

Here we go.

So I've got 2,200 properties right now that are on the MLS in Propwire. So I'm off to a good start. I know these are on market. Why is this important if I'm brand new?

Because they're ready to sell.

Wilma, you are right. They are ready to sell. How do we know that they're on market? On market? There's a real estate agent that signed a contract with them to put them on the market. So a step number one. Step number two, I'm going to go to single family and condos and small multifamily, and I'm going to stay out of this other stuff. That gives me. Takes me down 500 leads. I'm now going to go to other filters. Let's go to financial filters. I want to say basically like, no equity. Equity means I owe more money to the bank than what my house is worth. So, for example, if I want to buy a sub 2 deal, meaning somebody will let me just take over their payments. I need them to have no equity. Here's what that would mean.

No debt. Free would be seller finance sub two has debt.

Okay.

This is why it was good that we picked you. Because you have these questions.

I did. I never knew exactly. Explain it again.

Okay, great question. So let's say that my house is worth 200,000, but I owe the bank 190. How much equity do I have?

That's what you think. Because if I sell it for 200 and I pay an agent and another agent and closing costs, an inspection, an appraiser, I actually owe more money on the house than what I will get my pocket. Does that make sense? That means low equity. Do we now know what low equity means?

Yeah, it's less.

It means I owe more on the house than what it's worth. Okay, so if somebody owes more on the house and what it's worth, then I can go and buy it and just take over the payments because they're having a hard time selling it. Okay, I'm going to go for 8% equity, 9% equity, something like that. I'm going to go 8% equity. I'm going to do $400,000 max price. Because things are actually kind of cheap here. Let's go. Save and close.

It's thinking. Okay, financial filters.

Absentee owner.

Save and close.

Okay, so there's 11 results.

Okay? Only 11 people. This is exactly what I wanted. What does that mean? There are 11 people right now in Cincinnati. 11. Here's the filters we put in. They're in foreclosure. They have no equity. The agent is having a hard time selling the house. The property is vacant and it's under $400,000. Those are the filters I just did. Do you think that these people are in pain? They have multiple layers of pain. So in less than 15 seconds, I added layer after layer of layer of, of pain. Point foreclosure agents having a hard sell time selling the house. Low equity, long days on market, and it's under a certain price point. That means one of these guys in the community would buy it because it's at a lower price. These are your deals right here with these agents. That's how fast I can find a deal. Now, of course, I still have to call the agent Sunday, but I'm not going to call the agent. Look at this. The Property value is 129. It's a three bed, one bath. I already know those guys would buy this deal if I could get under sub 2.

Of Course they can't. They've been on the market for 120 days. So again, I'm going to tell you the filter. They're in foreclosure, the house is vacant. Which means the seller doesn't even care about the house. They already moved out. You see, these two filters tell a story, right? The agent is, has been trying to sell it for 120 days, no success. You tell me, is the agent going to be motivated to sell the house up too? So do I need to find a deal or. The deal is already there. They're right there. It literally there's 11 deals right here in town where people are in foreclosure, house is vacant, agent is having a hard time selling the house. The house is under $400,000. So I already know these buyers will buy the deal. Okay, there's 11 of them right here. What city are you in?

I'm between Columbus and Cleveland.

Okay, so let's go to Cleveland. Hey, watch. Search the area as the map moves. I got 35 right here in Cleveland, same filter. I now have my filter set, right? All these little things are set. I got my filter set. I could go to any part of the country and go, somebody says I can't find a deal in Wisconsin. I can just go right here into Appleton, Wisconsin. I got three sub two deals right there. Now I go to, let's go Phoenix, Arizona, which is my market. I go right here. I bet you there's 190. Do I have a shortage of deals anywhere in the country? These are also again in foreclosure, absentee properties, meaning they already moved out. They don't care about it. They're in foreclosure, it's listed with an agent. So I know they want to sell. The agent is 120 days or more on the market and it's under a certain price point, 400,000. Do you ever have to wonder where we find deals ever again? Can we be done with the thing of I don't know how to find a deal?

Everybody, we are done saying we don't know how to find sub 2 deals. I just showed you right here. And I could keep doing it over and over and over and over, but the most important thing is find somebody in the sub2 community that is buying in your area and say if I bring these opportunities to you, will you buy them and help me get through them? That is the thing you're stuck on. It's not can I find them? Because they're everywhere. Sub 2 deals are everywhere.

Okay.

That is correct. So when you come to the meetup in Columbus or whatever it is Cleveland, I will connect you with a Cleveland buyer. And what I'll do in Cleveland is we'll pull the list and I'll call the agent. Sound good? There you go. Guys, welcome to easyland. Price is nothing. Just go to creativenationtour.com.

All right, Cincinnati, you should know by now how to find a sub two deal. We showed you guys in about four minutes of this video how simple it is. Prop wire is a good free solution. We'll put a link down below. But deal sauce is what I use and it just has a little bit more data. I like the user experience just a little bit more. Shout out to Jerry Norton for constantly loving on us with propwire and all of the features he has there. But, you know, you now know how to find a sub 2 deal. The most important thing is you need the sub 2 buyer. Right? Just because you call an agent on market that's having a hard time selling the house doesn't mean you're going to get it under contract. But once you have a buyer that can back you up, you will have all the confidence in the world to work that deal. So come out to the Creative Nation tour in person. Meet our sub 2 community. We had 150 people here in Cincinnati, Ohio. Incredible day. I love this city so freaking much. A lot of development going on here. There's a lot of affordable housing that's being infused into the marketplace. People are doing a lot more co living here. Co living is kind of a thing in every state right now. Right. So you're going to see that a lot more. Notice you've not seen me talk about Airbnb one time in any of these 20 markets.

Right? Isn't that interesting?

Not one person did we meet out of. We've probably met 5,000 people so far. Not one person's like, yeah, I want to do Airbnb because they're not stupid. Sorry, Cincinnati. Tons of co living. A lot of historic preservation is going on in the city. And I imagine as we go through and sweep the east coast, we're going to run into a lot more historic older properties, 2, 300 years old.

But get to the Creative Nation tour.

Come out, meet sub 2 leaders in your local market that will check the box for. One of the most important.

Parts of finding sub 2 deals is making sure you have a sub 2 buyer along the way. We'll see you guys in West Virginia. Born and raised on the playground is where I spent most of my days. See you in the next video.