YouTube Channel: @PaceMorby

Hey, guys. Welcome to an amazing episode of behind the Scenes. We've got Jamil Damji, Cody Barton, my business partner, and myself. We are going to go through Propstream. I'd say it's one of the most commonly answered or asked questions in my DMs, and definitely Jamil's. Jamil and I travel the country. We talk to people all over the place, and a very, very frequently asked question is what. What are the top lists that you use when you are going after wholesale or even creative finance leads? So Cody and Jamil are going to take it from here for the next 10 minutes, and I'm going to jump in here. We've already got about 30 people watching live. This is an unannounced show. We just really wanted to put it out there and record it so we can redirect people back to this video multiple times. Because this is going to be a very powerful episode to show you the basics of. Of Propstream and then also show you at least five lists that we are frequently pulling to build our wholesale and creative finance businesses. So again, you're gonna listen to Cody Barton and Jamil Damjee for the next five to 10 minutes, and I will then jump back in.

See you, Pacer. Thank you for setting us up, man.

All right, guys, see you in a minute.

What up, Cody? How you doing, dude?

Dude, Doing good. Doing good. How's corn?

Right now, it's just me and you. Let's get into trouble.

Let's do it. Let's do it. So this is. Can you see my screen?

Okay, yeah, I can see. I can see your screen. Screen. Great. So first of all, let's frame this for the people that are watching, right? So essentially, the link that's in the comments that they would click on that link that would take them to Propstream, they would set up an account, and that would take them right here.

Yes, sir.

Yep. Amazing. All right, so they've set up their account. They're in this section now. Cody, you and I chatting. You're the integrator in Pace's team. I got Hunter, and, you know, both you and Hunt. It's funny that you guys are, like, old friends, right? Like, because you guys are both just, like, super geniuses. So what did you guys talk about? Calculus. Like, when you and Hunter would hang out, would you guys just, like, do math problems?

I mean, I mean, pretty much. We would just always talk about the details. I mean, that's as integrators. Like, we're talking about the details, and, like, you know, we're it's funny because, like, on the visionary side, it's like these big grandiose ideas and like, you know, all these cool things and ideas to work on. And then, you know, as the integrator, like, I know Hunter thinks and how I think I'm like, well, okay, well, to make that happen, like, there's all these little tiny details that have to happen to, like, bring that whole big picture really together.

It's awesome, man.

Guys, like, are really nice and I love you, Cody, for being here. So let's start. Let's pull a list. What's your favorite list to pull?

So my favorite list now. So I'm actually going to answer that in two different ways now. I would say my favorite list when I was brand new to poll was. Was just the pre foreclosures. That was my favorite list to pull. Just because especially when you're new in the business, it's sometimes hard to understand who to focus your time and energy and effort to be targeting. So just a simple pre foreclosure list was. And then I'll get into. I'll answer your question on the list that is my favorite now. But let's just do this. Let's just grab a simple pre foreclosure list. So, guys, what I'm doing here in Propstream, I'm pulling up Mesa, Arizona. That's one of the cities that we do a lot of our business in. And so what's really cool about Propstream is under the filters here, you could just get a quick list so you don't have to go and source your list from multiple different places. You could just do a quick list, pull the pre foreclosures, and then we could go ahead and take a look at that. So let's see what results we had. So there's 187 people in pre foreclosure. And what's cool about this filter section is you could actually narrow this down a little bit more too. So making sure, you know, usually you don't want to waste your time with properties that are on the mls. So we'll make sure that they're not on the mls and then we can look at what that brought the results down to as well. So let's go ahead and see where we're at now. There's 180 properties not, not on the MLS that are in foreclosure. So what I would specifically do with a list like this is I would, you know, selecting all of the properties like you guys can do right here on Propstream, you could select all of these here and then you add it to a list so you can create a new list. So say my list is going to be MESA pre foreclosures.

Pre foreclosures. And then let's do today's date. So I created that new list, simple as that. Perfect. Now I just made a, you know, a list of 180 people that are in pre foreclosure. So people that already have pain, people that are, you know, behind on their payments, that have some sort of timeline where they need to resolve their problem. So we're going to go ahead and now what you can do after you save your list, you can go to my properties section.

And this is super easy to do. So then, now we can take a look. So I have my MESA pre foreclosures. And then now what you guys want to do is be able to grab this list of properties so you can select all of them and then export the list and import it into your favorite skip tracing service of your liking. We use batch and you know, Jamil, if you have questions or you want to interject, just let me know.

But, but it's pretty easy. That is so, so, so, so simple. So that's it. You select it all, you export it. So what happens? It just like it'll, it'll save it in your downloads.

Yeah. So let's, let's just click on that. So 180 properties exported. And there we are. So now, now we have those in an Excel sheet that you can literally just plop into a skip tracing service that you'd like to use. And then you're able to then start cold calling those people. You could start texting those people. But that's as simple as it gets. I mean, it didn't take too long. What did that take, like a minute to pull the new, you know, pull pre foreclosure.

Yeah, exactly.

So, and this is what's cool. So, so you asked the question on what, what is my favorite list? I would say that's my favorite list if I'm a new wholesaler, is pre foreclosures. Because you know that there is pain, you know, there's a problem to solve. And if we want to get down into more, more of a nit, you know, more niche type of a list, we can build it out. So again, you know, I chose the city that I wanted to pull here.

So let's. Now that we are in this new world, right, we're in, we're in the new. The virus. We're in virusville Earth. Now things have changed. Pre foreclosures are. We don't know if forever foreclosures are even allowed. Right now. Everything's being postponed. So if I'm a new wholesaler and I live in this new world of coronavirus, what are the lists that I want to pull today?

Here's the list that I would want to pull today. So what I would do. And we'll go through this step by step in here. So what I would want. One of the lists that I would like to pull today would be a vacant list. So we're pulling properties that are vacant that are not on the market, currently not on the market, for sale. And then let's choose some, you know, characteristics. Characteristics of the property. So let's do residential only. Okay. And then let's take. Let's say single family and then condos. So we'll just take a couple. Those are a couple of my favorite mobile homes. I like a lot too. But these are, you know, a couple here. And. And then let's take here.

Jump in here. Let's go to ownership information. Years of ownership. I like to do five years or more. So they owned it for five years or more.

So we know that there's probably going to be equity there. You can get a little bit more specific in that, which we will. So let's do estimated equity at 50% or more. So they have meaning for, you know, for some of the new people on here that may not even know what that means. If the property is worth $200,000, 50% equity would mean they, you know, they only have $100,000 left to pay off on their loan. So there's a good amount of equity there on that property. So now we can. Let's just take a look and see what we're looking at as far as how many are on this list. So there's 1627 properties.

That makes me excited. That's 1600 people to get through. I mean, that's a. That's a nice list.

Yeah. And you could even take it one step further. So what we can do, let's do this.

Ownership.

Owner, location, out of state. Think about that right now, in this market, if you had a vacant property in another state, the coronavirus is currently going on, you have equity and you've owned it for some years. What do you. I mean, you're probably gonna start looking at some potential options. Should I list it? Should I, you know, turn this into a rental? Should I just sell it? Should I just cash out and be done with the property, should I sell it? You know, I have a good amount of equity. Maybe I could, subject to it, you know, sell. You know, obviously the seller wouldn't know that. But you as the wholesaler can go and approach these people that have a vacant property. So they're already in a transitionary period as it is. And you add the coronavirus on top of it, there's gonna be people thinking about multiple options of what they're gonna wanna do with those properties.

Now, Cody, when it says it's vacant, who determined it was vacant?

I believe it's the usps. So when they're trying to deliver mail, they're basically that no one's listed as the mailing, I believe, is what they do to determine that that property's vacant.

Got it. So there's a really good chance there's no tenant in these properties.

Yes, very, very high chance that there's no tenant in those properties.

So I call this the ticking time bomb treasure chest. Because why would you want a vacant property in the land of Corona right now just sitting vacant, being bombarded with viruses and not having like, what would be the point of that? You have 50% equity in your property.

It's.

It's hanging around doing absolutely nothing for you. Sitting vacant, growing weeds, being a complete eyesore. Now that is. And it's a treasure chest because paying.

A mortgage on it, you know, these people still have debt, they're paying a mortgage on it too.

Yeah. So there's. And you said that list is how many deep?

560. And these are all people out of state owners too. These are people that live in other states.

So there's 500 and just Mesa, Arizona. There are.

Just Mesa. 560 properties that are vacant, have 50% equity or more with an out of state owner. I mean that right there, ticking time bomb treasure chest. Let's export this list and name it. Just that.

Let's do it. All right, let's add that, add that list.

Sicking time bomb treasure chest.

I love it. Covid, was it COVID 19.

Yeah, that is dope. That right there is one powerful list.

Yep. So that honestly would be my favorite list right now. You know, where obviously pre foreclosures are great. But like you were saying, there is some uncertainty of what the banks are going to be doing, whether they're going to be, you know, allowing the forbearances and you know, not making mortgage payments and that, and not, you know, being able to actually go through and foreclose on people right now. So there is a lot of uncertainty on that. But this is a certain list. This is a list that you can focus on right now. And there's actual. There's multiple layers to this particular list. So this is definitely another super solid list to pull. What do you think is another one of your favorites or, you know, you know, that you can. That we can think about or show these guys?

So one of my favorites and because it changed the trajectory of my life, are landlords, tired landlords. Right. So. And I think right now, especially with the coronavirus situation and tenants not paying rent or potentially not paying rent, I think that that would be my second favorite ticking time bomb treasure chest would be landlords, tired landlords. So I would call a tired landlord somebody who's owned a rental property for five or four. For five or more years. Can we do that?

Yep. Yep. So five, five years.

So five or more years, we have these individuals and we have out of state landlords, and then we have local landlords as well.

And then.

Yep. And then we'll have. It's not listed currently on the mls. And then do. Do we want to have on the occupancy occupied, vacant, or any.

I would say any.

So let's see. And then let's see. Let's add some equity in there. So, you know, there's room to wholesale that property, of course. So we have 50% equity in there. What's really cool, guys, is you could actually, you know, search different liens, too. So, you know, on a list like this, if you want to find out if people have other types of liens, you could search on those as well. So you can stack multiple layers on these particular lists that you're pulling here. So we have right now properties that are not on the market. They've been owned for five years or more, owned by an individual. They're either out of state or local, but they don't live in the property, meaning that they're a landlord and they have 50% or more equity. I think there's probably going to be a good, good chunk of people on this list.

Love it. Let's see what we got.

Take a look here. So we have 15,000.

Oh, my God. That makes me happy. All right, so that's a fantastic list.

I've been talking to some really successful wholesalers that have been going heavy after multifamily and condominiums in particular.

Talking to landlords, they've been using this as the approach. So with the coronavirus and COVID 19.

A lot of renters are starting to not Want to live in multifamily property because of the proximity to other people. Single family residential is going to start to overtake multifamily rentals because people are going to want to keep their families safe and having. And they're starting to realize like in areas like New York where people are stacked on top of each other because of all of the multifamily, that multifamily is probably not the healthiest way to live.

No, definitely not.

And that has become a pain point for a lot of wholesalers that have been talking to landlords. So let's pull that list. Let's pull the multifamily. Scrunchy dunch.

COVID 19 special.

All right.

Talking about, I want to talk about like condominiums, townhomes, stuff that's high density with equity. That's that, that are rentals.

Let's do it. So go in here, jump into some residential.

Okay.

Oops, not that condo. Multifamily, you know, that higher, higher density stuff. And then let's grab our condos and we could probably throw in townhomes. Let's see here.

So grab our townhomes as well. So all that high density stuff where people are basically stacked on top of each other. Yep. So let's. Now let's take a look.

We always want to make sure there's equity. So we'll add in, make sure there's 50% equity or more on those properties and then on those owners, the state or local.

So. And then we'll do individuals as well. So then we have. So the list we have here are the residential condos, the townhouses that are stacked on top of each other. Landlords are out of state or they are somewhere else here. Absentee owner properties. 50% or more equity in those properties. Let's see. And we'll make sure that these are not listed currently on the mls. There's probably a good, good chunk of these as well. Condos are actually some of my favorite in general when.

Oh, mine too. Mine, mine too. And I think today the conversation that you can have with a seller about why the mentality is going to be moving away from multifamily and from high density living and that it would be a great time for a landlord to sell their multifamily property to get peak pricing. Because what we're going to find is the studies are going to show more and more and more the higher the density areas, the harder we as people get hit by situations like this and people are going to be scared to live in multifamily moving forward, it's going to be a real thing. It's and, and landlords are going to lose tenants, they're going to lose cash flow. Now would be the time for them to sell at peak pricing. And so guys, there's how many, how many properties here?

I mean we have 4900 properties. Oh my.

Unreal. So like 5000, 5000 properties to reach out to and have that conversation with. I love this Cody. This is just incredible. What would you say would be beyond these things? Your final coronavirus list?

My final coronavirus list. Well, I got to take it to the mobile homes then.

All right, let's go.

Mobile homes are still one of my favorite list poll I think.

I think Cody, mobile homes are going to be the way of the future because you know in the past you could buy a mobile home, a three, a three two mobile home for 100 grand or you could live in a, in a two bedroom, two bath condo for a hundred grand. They run around the same amount of money. But more people in the future are going to opt to living in a mobile home because of the space because they have more room between neighbors, because they actually have a yard because it's not high density. So my, my thinking is, my prediction is in the future there will be more retail opportunities in mobile homes which is going to mean there's going to be greater wholesale opportunities in mobile homes just because the tenant of the tenants of tomorrow aren't going to want to be living in condominiums. That's my prediction. And so I love this, Cody. This would be the, our manufactured home. So what things do people need to understand or keep in mind about manufacturers? Because I know it's a little bit more of a specialty property type.

Yeah. So some of the biggest things to understand overall you're definitely right on that. They are more of a niche and you have to understand what you're doing. Cause you could end up in a bad spot if you're buying them way too high or not understanding what ones to avoid. So I know some people do okay with mobile homes and parks where there's lot rent. But our, we do not touch anything in parks with lot rent. We don't even, it's not something that we mess with. So there's basically be two different types of mobile homes you're looking at are the mobile homes that are on owned land where they actually own the land that it's sitting on. They aren't paying a lot rent. Those are the ones that you want to focus on and then There are the mobile homes that are on in mobile home parks where they're paying a lot rent. You don't own the land. So those are the ones that we stay away from. So we basically just focus in on the ones because the ones that they own the land because most of the value is coming from the land on those properties.

So will PropStream mix the two up? Will it pull properties that are on leased land and not own land?

So I think it'll end up pulling both. But the biggest thing is it doesn't matter which data aggregator is going to pull this together. Like, I've used PropStream, I've used Listsource, I've used other like Rebo, Gateway, I've used multiple other providers. And I think the best thing to do is there aren't that many of them. So I think the best thing to do is pull all of them so you don't accidentally leave out some of those opportunities than trying to, you know, hope that they got it perfectly right. Because there's a lot of times mobile homes especially a lot of the stuff isn't, you know, reported correctly to the county. We find all types of weird errors on the county with mobile homes. So we, we just pull all of it and then we sort through it as we're working those leads. Is the strategy that we follow on that.

There is another detail that I know about mobile homes, about financing and lenders on the retail side, they won't finance mobile homes that were built before a specific year. Can you elaborate on that?

Yeah, so it's June or July of 76 was when the Housing Administration HUD basically, you know, changed the criteria and what can be lended on or what can't be lended on. And so pre 76, general rule of thumb, there are some specialty lenders that can, but it is specialty. They're not the big banks that are going to lend on those. And so for that reason, we primarily focus on buying mobile homes that are, that are 76 and newer. If we're going to flip them, we will still pull all of the years built because you can get great deals like we buy, you know, some great deals on some older mobile homes that are, you know, that can't qualify for financing. Because you have to also look at if they can't qualify for financing, think about the options that seller has. Can they list it on the MLS and sell it to someone that's getting an FHA loan? They can't. They don't have that as an option. So us as the wholesalers we can actually get those properties under contract, often for a really good deal, because we're buying it based essentially really on the land value, and we'll sell it to another investor that'll just keep it as a buy and hold, and they'll just keep it as a rental because they get it for a relatively cheap price and they'll be able to rent it out for, you know, a pretty good rate. The crazy thing about mobile homes. Jamila. So me and Pace just bought a mobile home about 10 days ago. And our mortgage, you know, we did a 0% seller carry, and we're paying 375amonth to the seller, plus taxes and insurance. Our total payments, 500.

Mobile home as of Yesterday to pay 1195amonth, which is crazy.

Your payments 500amonth and you're renting it out for 1195?

Yeah, 1195.

Unreal, guys. Unreal. Amazing cash flow. What was your. And not to get everybody confused in here, but how much cash out of pocket did you guys have to spend to get into that deal?

So on that particular deal, we actually, we spent all in all, about $16,000 to 10,000 to the seller and then 5,000 to a wholesaler that brought us it. The wholesaler brought it to us and tried to get us to buy it as a wholesale deal. The seller wanted retail, so we couldn't do anything with it. They were gonna throw away the lead. But instead Pace went, met the sellers, restructured the deal. Instead of trying to get it wholesale, we got it on seller carry terms. We gave them 10 grand down 375amonth for the next 20 years is what we have to pay the seller. And, and now we get to go rent it out and make, you know, five, six hundred dollars a month, you know, gross on the their cash flow.

Unreal, Unreal. That, that's like, those returns are beyond Ponzi scheme returns. And so, like, I just, every time I see a return better than 10%, I'm like, you're going to jail. But you're not, because it's like, it's still, it's legal, but it's amazing. It's amazing.

So that's the thing with mobile homes. That's why we like these is, you know, you could either structure them and they're affordable housing too. So that's the other thing to understand for people that may not know much about mobile homes is, you know, especially in some of these, some of the states where housing has gotten really expensive, mobile homes are really some of the last Affordable housing. Because like you were saying before, condos have now crept up in price where now for a condo you're paying as much as a house or in some cases more than you pay for a single family home. So, you know, people have to move into more affordable housing. And so that's where mobile homes are doing a great job is there. You know, the entry to buy them is still relatively low, or entry to rent is still relatively low. You're going to be renting a mobile home or buying a mobile home cheaper than any other way. And you still have a yard. Like we have a pretty large yard at the property that we have. We have two big storage sheds. So, you know, our tenants that put an application are super excited about that. There's, you know, two car carport. I mean, there's, you know, a really high demand. Like we put that property on Zillow for rent and that particular property we got like six applications in like 12 hours. It's insane.

That's just crazy. So today what we covered was how to pull a list, guys. And the most important list that Cody and I believe are going to help you get through this Corona crisis. The first one being vacant properties. Okay, those are the ticking time bomb treasure chests. Those are vacant properties with out of state owners. Those properties are just sitting there with all that equity ready to be sold. The second type of property that we list that we pulled was the landlord. The tired landlords, the guys that have owned property that they've been renting out for five years or more, that have equity, that are entering into this new unknown world of the coronavirus and don't know how to navigate their tenant situation. The next kind of list that we pulled was one of Cody's favorites, which were mobile homes built in. Actually. He even said pull them from all of them.

All of them.

Don't even worry about the year.

Just my favorite list, bro. Come on.

Just make sure that they are owned land. Okay? So guys, they owned land. If they pay a lot, that means it's a car. You're not buying a house, you're buying a car. Okay.

Cody, I have to say, every time I spend time with you, I feel like I get smarter and smarter. You're just, you're one of like my favorite dudes, guy. Thank you so much, dude.

Appreciate it. Happy, happy to spend the time. You know, it's always fun talking real estate and, you know, strategizing and I mean, this is the stuff that I love. You know, looking at the opportunities and strategizing and what could Be the best list. And you know, as market changes, you know, with everything going on with the coronavirus right now, looking at, you know, different ways to strategize and you know, put opportunities together. So I appreciate it.

Awesome. And then guys, if you didn't, if you didn't, if you remember the first list he pulled, which was the pre foreclosure list, that's going to be the list that you get back to once the world is normal again and you can go out and door knock and you can, you know, be in your car and you're allowed to hug your mom. When that happens, when we're in that world again, the pre foreclosure list is still by far the most low hanging fruit. It's the pain. That's where people need your help. Thanks again so much, Cody. That's amazing everyone. The link on our prop stream is in the comments and the reason why you want to use that link is because we've negotiated, actually pace negotiated with Propstream the ability to double the free trial. Okay. So if you just went on to Propstream and got their free trial, it would be half the amount of time that you'll get with our link. Okay. So you're gonna get double the free trial meaning double the leads, double the time to get out there and not have to spend money ahead of time to be doing this lead generation. So use this link in the comments because it'll double the time, double the pleasure, double the fun. Double mint gum.

Stupid.

Are you guys going to answer any questions?

Are you guys going to wrap this up?

I think we're good. How many people are watching us right now, bro?

I've got 175 people on my side.

175 people will have learned today how to pull the the Cody Barton ninja list. These are the. Right here guys are the list to pull in this new world to be able to get successful. Thank you so much for all that information.

Hey, for the people that are asking questions, where can they find you, me and Cody throughout the week on different shows so they can actually have their answer their questions answered.

Are there, do we want, if there's questions for us to answer now, we can answer them now or.

There'S 15 questions.

Oh yeah, there's a whole bunch.

There's a whole bunch. Well, here's what I'd like to cut this so that we is why don't.

You tell them about wholesale hotline and Sunday service and tell them where they can get answers to their questions.

So on. What are you guys doing On Sunday.

On Sunday, we always do Sunday service, 7pm Arizona time. That is Creative Finance. Okay? So Cody and I do. We run a wholesale business. We do a lot of deals with Jamil, but on top of that, we go out and we build a portfolio utilizing creative financing, and we also wholesale deals utilizing creative financing. In fact, I've got a contract right here. I did a whole video on it today with Zach talking about how a contract we signed two days ago was already listed. It failed to sell on the market, had a wholesaler, failed to perform. We came in, and we're making $12,000 on the deal utilizing creative financing. So for anybody who wants to learn creative financing, go to Creative Finance with Pace Morby Facebook group. Cody and I do a live show in there on Sundays where we answer questions for. Honestly, I feel bad for Cody because I abuse him. It basically goes on for about two hours.

You know what? He doesn't look abused. He looks very happy to me. In fact, you know, Cody and I were texting before you got on Pace, and he's about to have a fajita party right now. He's in. He's in the best mood ever.

I know. He's.

He's.

He's. He's living his best life right now, bro.

He's living his best life. So, guys, make sure you check out Sunday service because it's the bomb. I've been a guest on it before. It is absolute wild. The questions, the knowledge, the gems, the fire that these two guys deliver every week, every Sunday, week after week after week. It's beyond anything I've ever seen before. Make sure you guys check it out. And on Monday, Pace, myself, and Brent, we do wholesale hotline. So if you want to go to the Wholesale hotline Facebook page, it's Wholesale Hotline Live. Make sure that you like that. Join that group because we do wholesale hotline in there every Monday at 5pm Pacific seven in Texas, eight on the east. It is a fantastic show, which is only wholesale, not Creative Finance wholesale questions only. And we literally spent an hour and a half, Brent, Pace, and myself, answering your wholesale questions. Stuff that you'd have to pay mentors 30, 50 grand to have answered for you, we just do for free. Because we're kind of crazy like that and we just love doing it all. We don't.

We have some upcoming guests you want to talk about.

We do on. So this coming Monday, it's just you. It's just us three. But the following Monday, April 20th, it's going to be Max, Maxwell and That's going to be a super fun show. If you guys. Most everybody's familiar with Max Maxwell, but for the couple of you that live in the sea that don't know him, he's a. He's a phenom. He's a wholesale juggernaut. The guy is a go giver. He has probably one of the best beards in wholesaling. And beyond that, beyond that, I think he's helped and touched more people in the community with knowledge and information than the three of us have combined. So you guys definitely want to be there on the April 20th show. It's going to be fantastic. And you can find me on Instagram, jdamji. So that's @jdamji. I. I give a. I give a tip out every couple of days while I'm taking a walk. So I give you my, my, my walking wholesale tips. They're fun. I'm out of breath while I'm doing it, but it's a good time. Pace. Where can they find you?

Wholesale hotline. And Pace Morby on instagram.

Boom.

And Mr. Barton at Cody Barton, official on Instagram.

You guys, he is official. Okay?

He's official, has my name. They took my name and I actually messaged him, offered them like 100 bucks, and they told me they'd give it to me for like 50 grand.

He's talking about me. I'm the one that owns his name, and I'm waiting for him to come up to 100 grand to sell it to him.

Oh, my gosh. That's so fun. Thank you guys so much. This was really informative. And we're going to be saving this so that we can send it to folks that missed it. Because I think list pulling, especially in this environment right now, is going to be super, super important. Thank you, Pacer. Thank you, Cody.

Have a good night.

Have a good night. Happy Easter.