How To Get Leads With Propstream

I'll address any direct questions you have about our application, and if I'm able to, I'll disclose any future things that we're working on in terms of our roadmap. For those that are not familiar with PropStream, I'm just going to give you guys a quick overview on what PropStream can do or how it can help you with your real estate journey. This product is not designed for a specific audience. It's designed for anybody in the real estate space. Heck, if you're a stalker and you want to know the girl's phone number that lives next door, you can literally search her address or his address and get their phone number, right? I don't recommend it, but our whole thing at PropStream is for nearly 2 decades, started in 2006, we're just collecting data and just handing it over to you guys. The purpose of creating PropStream back in the day was so that you don't have to go to the county anymore. Right, to go get that data physically. Plus, the data that you get is not really legible. It's very sloppy. The format might be weird. The font might be unlegible. We bring that data from the county. We bring that data from the mortgage providers. We bring that data from the MLS, and this is nationwide, by the way. And then there it is in PropStream. Okay, so just kind of a little thing of, a little company history. For nearly 20 years, our objective is to get you the data. And then once you have the data, you can do 2 things with it, okay? One is you could search any property you'd like nationwide. And why would you do that? It's because you're probably trying to research that property. So let's just, quick example. I'm gonna go into PropStream here, and we are, I believe, what, this is Irvine? Is this Lake Forest? Irvine.

Irvine.

Someone said multifamily. I think it was Alex mentioned multifamily, vacant land. So just waiting for this to load up. And then what I'm going to do is I'm going to pull up this market or practically any market. So let's hope it loads up. And then what I'm going to do is I'm just going to randomly click on a parcel and then show you guys what information you're going to be able to access when you pull up a property. So, all right, here we are. We're in Irvine now, and I just needed to get to the map here. And what I'm just going to do is just keep zooming in, and I'm going to click on a parcel around here. While we wait, does anybody have any questions so far, whether you're a current user or experiencing this for the first time? What's the difference between this platform and the other platforms? That's a really good question, and I expect people to ask this question. The question that was asked, it was— what's your name, sir? Omar. Omar asked this really great question. What's the difference between your product and all the other products that are out there? The first question is the user interface. So when you're using PropStream, one of the differences is just what it looks like, right? When you click on a property, like this property right here off Red Rock Irvine, randomly clicked on it, little information on that property. But what we're known for, Omar, is this, our property details page. So this is an off-market property, by the way. It's not a property that's listed. This property has been owned for 3 years. It was financed. There's 2 owners on the property. Um, it looks like it's free and clear. There are no mortgages on that property. So when, when people ask what's the difference between like your product and the next product, the first comparison is just pull up a property in both products, right? I never like to mention another product because at the end of the day, all products are here to help you, right? So I don't like— I don't I'm not that type of person to say, oh yeah, we're better than that. That's not— if it helps you, it helps you. That's the reality, because at the end of the day, you're helping a homeowner, and I'm cool with that, right? But when it comes to PropStream and when you're comparing any other product, just grab this address and pull it up in Zillow, pull up in Realtor.com, pull it up on your MLS, pull it up on any other software that you're using, and then just compare the data points. Because when you're Comping a property, like right now if I wanted to know, you know, what this property is worth, I can go to the comp section and I have access to the public records. So if this house is falling apart, the roof caved in, I'd probably use public records and check out cash transactions, see who's a cash buyer in the area, maybe negotiate with them or talk to them, network with them, and see, you know, what they would buy an as-is property in this market for. Right? Because that's the condition of that property. If it's been renovated or I have the intention of renovating it, then we have access to MLS data, which is this right over here. And then from there, you can either pull rental comps or pull after-repair value comps. So one of the big differentiators is the property details. And what you're seeing here, I know when, when we're all looking at like a product, Like right now you're seeing the MLS photos, you're seeing our, our AI data right there in the center called PropStream Intelligence, the mortgage and debt, how many properties this person owns. That's the hard work that you're not seeing behind closed doors, is us buying all that different data from different vendors and then bringing it over to you. So one of the use case scenarios of PropStream is, hey, I'm, I'm curious about this address. Is it a lead? Is there equity? What's the value of that property? What's selling around that property? Who's the owner? How many years do they— have they owned it? Is there a mortgage? What type of mortgage? These are the type of datasets that we provide. So one of the use case scenarios again is just pull up a property and we can show you a lot of information on that property. So does anybody have any questions regarding that part of PropStream? I would say that's about 50% of what people are using PropStream for is just pull up a property and what information you have on that asset. Anybody have any questions regarding the property details page? No? Okay. Kyle, what's going on? How often is the data updated? That's a really great question. So Kyle's question here is how frequently is the data updated in PropStream? And this is actually a really tricky question, Kyle, because I could easily get away with it and say every day, and, and then you would have to just kind of go by that. The reality is we do update every day, and the way that our business model works, Kyle, is we work with probably about 3 dozen different data providers that we buy data from— First American, CoreLogic, a few other repositories, and even the MLS. That's how we got that MLS photo there, right? So at any given moment, these vendors— because You know, they're not the same company. They all have their different frequency. They all have their different release dates. Whenever they send it over to our data, our server, it's our job to just upload that the following day. So if we, let's say this mortgage owner or this owner here buys another property and we see that there's another asset tied to their tax address and that's sent to us tonight, by tomorrow morning it should push populate in. Unless there's like a technical delay, so our server updates every day. But we we need to expand on that question going forward. This is where I think a lot of companies can fool you or use marketing against you, right? So when you're asking this question next time, and this goes for anybody when you're dealing with soft tech or real estate tech, ask them how frequently is the data, and then give them the market. Kyle, say, how frequent is the data in Irvine? How frequent is the data in Charlotte, North Carolina? Because again, no 2 counties are the same, and some providers don't even have the data in those markets. So we update every day, but then the true question besides— you need to ask what market you're in. The other question that you want to ask, Kyle, is the data set that you're referring that update to. Because when you say, hey, how frequently do you update? Well, we collect 20 different categories. We collect AI data. We have mortgage information. We have tax data. What data are you referring to when you say, hey, how frequently do you update? This is why a lot of companies could say every day, because you're being very general with that question. You're not giving specifics. So what we have done to help you, because this is, again, we've been People have constantly asked us these questions. How frequently are you updating your pre-foreclosure data? How frequently are you updating your failed listings, your tax delinquency? We were just talking about a few moments ago, me and Joe. The best way to check it in our product is to select a category. So, hey, I'm looking at these tired landlords that you have in Irvine. So let's go ahead and populate that. So let me pull up Irvine once more. Let's click on tired landlords. And what you can do once you have your list selected, Kyle, is there's a little filter or a little button right here. You see this little tab right there on the right side? If you click on that tab, Kyle, there's a column here that says last update. And so remember, I collect— I selected tired landlords. This is the category that I've selected. And the last update for tired landlords is on that date there, November 11th, right, of 20—

was that 20—

2010, right? So— oh, that's years of ownership. So that person bought that property in 2010, and so it showed up in our system because that says 15-year ownership mark. So that list has a different frequency than, let's say, the vacant data that we got from the Postal Service. Does that make sense? So the way that I view data, this is just how I look at real estate software tech.

Omar.

Our product, and any other product, in this case, Omar, we're just a skyscraper. That's the server. And the data that's coming into the front door, think of it like a freeway. Every lane has a different data provider, and every lane has a different rate of speed, if that makes sense. I would say the fastest data that any software company can acquire is usually MLS data. It's 24 to 48 hours unless you have direct access, which we do in some markets, so we can update within like 15 minutes of a status update. So we update every day, but what filter are you referring to? And that's the most important part. So, to help you out there, Kyle, not only do we show you the column of when it was last updated, we also give you this feature here at the top. This is our filter menu, and that save feature lets you save your search.

Mm-hmm.

So, you could say something like this. I'm looking for a property that has 50% in equity, that's gonna be a VA loan, and it has 5 years of ownership minimum, right? Those are my 3 filters. But guess what? Tomorrow could be someone's 5th year of ownership. Does that make sense? And so I don't know that, but if I apply these filters today and I hit that save button, I can tell PropStream to immediately notify me when another property hits that criteria. And so again, I don't know when these updates are going to happen, but again, we have implemented these tools for you so that you can get notified when you're— when another deceased owner appears, because that's one of the searches that we have, or a tax delinquency, or a tired landlord, or a senior owner in a 2-story building. Whatever your filters are, because your filters compared to their filters and their filters, they're not going to be the same. And so while we do update every day, the category that you're filtering Could update once a week, it could update once a month. Heck, we don't— if you are choosing deceased owners, we don't know when someone passes away, so there's really no way to time that. So great question, Kyle. It's a Pandora's box of a question, but just for everybody to know going forward, when you do ask that question, ask them directly, like, hey, how fast or how frequently are you updating in this particular market? And if you could help yourself even more, tell them the exact criteria that you're looking for, right? So how frequently are you updating senior owners in San Diego County? And then I could be like, well, let me show you, and here's our last record for senior owners. All right, great question. All right, so first half was the property details. Reason I wanted to share that with you is because That actually powers this whole thing that we're staring at right now. This is what people mainly use PropStream for. It's farming, right? Because the way that this business works, or actually any business, it doesn't have to even be real estate— inbound and outbound marketing. Inbound marketing, you just wait for someone to show up, right? Oh hey, I heard you sell houses. Great, yeah, I do. Let's work together. Or outbound marketing, you don't wait for anybody to come to you. In the past, you had to go to the county and you had to go get those tax delinquencies and senior owners and cash trends, right? You had to be deliberate when you're grabbing data. That's what, again, we're here for. So most of our users are using us for property details and then using us for outbound marketing. And it's not just for wholesalers or fix and flippers or property managers or people that own property. If you're looking for another asset and you're looking to find it without paying commission, without paying closing costs, you're looking to speak directly to that owner of that asset and negotiate directly a deal that you— that's going to benefit you, the owner, and whoever you might be selling that property to later on. That's what we're here for. Okay, so outbound marketing is what PropStream is designed for. So let's kind of go through an example, like how would I use it in this very competitive competitive market. Like, you guys are my competitors right now, technically, right? You guys are probably pulling pre-foreclosures. We got some vacant people, a vacant list being pulled. You can do that. If you wanted to go in Irvine right now and say, hey, I'm looking for a distressed owner, let's look for someone who didn't pay their taxes in Orange County. Uh-oh, not paying your taxes in Orange County, that's going to cost you quite a bit, right? So who's Not paying their taxes, and let's make sure it's not listed yet. So let's make sure that they're off market. And I just want to talk to a normal person, a normal human being. So let's make sure that the owner is an individual who has at least 5 years of ownership on it. And you know what's a challenge when you're dealing with owners is that they sometimes don't want to sell their house because there's that emotional attachment, right?

Right.

Like, oh my God, my kids grew up here. I don't know if I want to sell yet. So to avoid that conversation, look what I can do. Owner occupied? No, I don't want you at that house. I want all the non-owner occupied properties that are not yet listed with an agent, that are individually owned. And we have 173 addresses in just Irvine alone.

Wow.

So we can either wait for these homeowners to get that pre-foreclosure notification in a few months. Says, okay, here, notice of default now. And then they want to reach out to you guys or go online and say, hey, who can sell my house during a pre-foreclosure? Or we don't wait for them to go through that scenario. We pull this list. And what's cool about PropStream is not only can you use our filter menu to build a list of 173 properties going through pre-foreclosure— or I'm sorry, delinquency— but we have skip tracing. What that means is we can get you a phone number or an email. So if you need more than just act Just addresses. Let's say you don't have time to knock on doors 'cause it's raining this weekend. I'd rather just sit in my office, or even right now I can just pull this list while you guys are having your meeting. I could be in the corner making phone calls, talking to owners about their property going through delinquency right now. And heck, let's do this. Let's add one more filter, right?

15 times.

How about add a state? So you have not owned— you're also not even in the same state that we're in. So you've like, you've really, in my opinion, like, you not only are you behind on taxes, but you're behind on taxes in one of the most expensive tax states ever, right? So 21 properties out of the 173 are out-of-state owners. I would say these individuals probably have less emotional attachment than someone who lives in maybe in the same county that owned that property.

Right.

So again, the cool thing about PropStream is it's all about what you need, right? So whether it's true or not, but I believe the rates are going to be dropping again this next year, right? That's— anybody that do refis or help homeowners with loans or anything like that here? Perfect, right? So why wait? What we can do right now is we can go in PropStream And I could say, hey, look, rather than going after a list, let's find all the off-market properties because again, I don't want them listed. I need individual owners who have 5 years of ownership or more, right? Owner occupied or not, I don't care as long as you own this asset. But here's where my, my thought process comes in. If the rates might drop next year, Who's that going to benefit? Is it going to benefit someone that has a 2 or 3% interest rate? No, they're not going to care, right? So let's do this. Let's go in the mortgage section and find everybody that has an interest rate that's 7% or higher in this market. And that's who we should start sending our marketing to. Like, be prepared, right? Rates are going to start going down in 2026. So these 413 addresses, do we wait for them to hear the news that rates dropped and then they go, okay, who do I call to refi? Or do we start planning that marketing today, 6 months in advance? Hey, are you looking to refinance? The feds might be dropping the rates. Would you like to know the value of your house? I could comp it for you. I could start a conversation for listing a property or selling the property. Okay, so the 2 main things again is just property details and lead generation. Does anybody have any questions regarding the filter menu? Yes, Omar. What are your thoughts on stacking multiple lead lists together? Meaning like, let's say I do a list Tax delinquency and liens. I love that idea. That's a great idea. The question here is, what are your thoughts on stacking categories like tax delinquency and a lien, or tax delinquency, a lien, and a bankruptcy? Because now that lets me know you can't pay for any of that stuff because you just filed for bankruptcy, right? I think it's a great idea. The trick though is— and then this is just the reality of it— That's not new, unfortunately, right? So the way that I view real estate is it's an up-ramp, right? So I think of it as 3 doors the homeowner is gonna go through, okay? So when you first buy a home, you're good. You just made your down payment, you got the mortgage, you got approved, you're a good homeowner, right? But then the next door is what I call the uh-oh door, right? Something happens.

Uh-oh.

You didn't pay your taxes. Your HOA puts a lien on your property because you refused to pay the HOA fees. You get into divorce. You file for bankruptcy because you lose your job, right? So the motivation to sell kind of goes up in that next room, the uh-oh room. But they're not really like, I need to sell today. They're in the— I would say most of them are in the denial stage. Like, I'm not too sure. I think I could figure this out. Thanks for reaching out.

Not interested.

Not interested, right? So now it's your job to either keep them in your funnel and do a follow-up or just let it go and then someone follows up 6 months later and then they get the deal, right? The third room is what I call the I really need your help room. That room is the auction, the pre-foreclosure, and in some states, a foreclosure, because certain states have a redemption period for foreclosure. I don't think California is a redemption state. Once it's in foreclosure, the lender has it, they can do whatever they want. you don't even get the property, even if it's a day later. So that's the, what I call, I need help category, the pre-foreclosure, the auction categories, right? A lot of investors love that category because, and I don't mean to say it in a bad way, but that's like the lowest hanging fruit technically, right? Because that homeowner's like, they really need to sell. And beggars can't be choosers. Like, I get your house could be sold for $1 million, but you have to remodel it, And you do have equity, so I'll give you $750,000 cash today. It pays off your mortgage at half a million. You get a quarter million in cash, but I get your asset for $750,000, and then I have to assume the renovations and risk and sell it for a million bucks, right? But a lot of people are going after pre-foreclosures for the very same reasons: faster closings, bigger discounts. But it's the most competitive category out there. So my advice is, if you're going to go after pre-foreclosures, here's how you're going to win it. Have a lot of marketing money because you're competing against hedge funds. You're competing against the iBuyers, the Zillos, the OpenDoors, the refinance companies, the creditors. So have a lot of marketing money, right? Or the other way to beat that competitive category is creativity. I share this all the time. What will always beat money is creativity. That's why you can't do— you can't buy being viral. Something happens and it just goes viral. You can't create it, right? Some people have tried to create a system, but it's not. So creativity always wins. And I'll give you an example. Many years ago, I worked with this gal in Charlotte, North Carolina. She really wanted to do pre-foreclosures. There was no ifs, ands, or buts. She understood the competition was very fierce in that market, so she pivoted. Instead of doing postcards like everybody else did, she did handwritten letters and sprayed it with perfume. And she got several deals out of that, because what she discovered was most of the people in pre-foreclosure in that area were men. They're working 9 to 5, they don't want to be told on mail, you screwed up. Your credit sucks, you didn't make your payments, you're 60 days past due. That's what these men were getting constantly, every day, right? So they're working 9 to 5, and then they come home to all this marketing saying, you didn't do well, you didn't do well. Imagine coming home and all of a sudden you see this little purple postcard, and it smells really good, and it actually has your name on it.

Wow.

That's creativity. She didn't spend money, she just spent time, and she got like 6 deals out of it in a 30, 40-day period. So while you can stack, again, the great question here, can I stack liens with this, with that? When you do that, you're going higher on that scale. So yes, you can do it, but just understand other people are also doing that, right? So have a lot of marketing money or get creative with your marketing. Okay, great question. The other thought process is what we were just showing you right now. What's cool about PropStream is you don't have to pick a list at all. So who here is a real estate agent by chance, right? You want me to show you a buyer-seller lead?

Yeah.

This lead will literally get you a seller and a buyer at the same time, because this is how my dad sold our house. He was a seller-buyer lead. So here's the exact filter, right? You just go into any market, we'll do Irvine right now, and what I want is instead of going after a list, again, because I know a lot of us are going to be going after liens and whatnot, what I'm going to do is I'm going to create a situation instead. So here's that situation. I want all residential single-family properties in Irvine, California that have 3 bedrooms or more. That lets me know that's a family living in that house, right? 3 bedrooms. Mom, dad in one room, brother or sister in the other 2 rooms, right? But here's the motivation. They're all sharing one bathroom, and it's off-market, so it hasn't been listed yet, and they've been sharing that one bathroom. So let's make sure it's owner-occupied here for at least more than 10 years. That's the reason my dad sold the house. It was a duplex, 2 2 bedrooms, 1 bathroom. We sold it in 1997 because I was a 7th grader, my brother was a 9th grader. 2 kids fighting over hot water every single morning. And so my dad was like, well, we got to get that second bathroom. For 10 years. For 10 years minimum, yeah. So, and again, it makes sense because like, to me, data tells a story, right? It's like that moment when like Neo was like, oh crap, I could see all the numbers now. That's how I see things. So when, when you're grabbing a list, It's not bad, it just has its inherent challenges already. There's people already doing that, not just agents, but investors and lenders and credit repair companies and everybody that's trying to help that homeowner for whatever the reasons are, right? So you can either compete there, and there's 2 ways to win, money or creativity, or you just gotta create situations that haven't gotten on a list yet. And this is a perfect example. How many homeowners in, and let's not even look at Irvine County, Right? Let's look at Orange County, California. How many homeowners in this entire county have been sharing one bathroom with their kids for the last 10 years or more? And we have 4,800 addresses today. That's a seller-buyer lead. What's your motivation to call? What should your marketing say? Would you like to look at my 3-bedroom, 2-bathrooms?

Right?

You don't even mention the situation at all. You just assume it. I know for the last 10 years you've been sharing. I know, I know for a fact you've been sharing one bathroom for the 10 years or more because that's what I just created. Owner-occupied, 10 years of ownership, one bathroom. What's my marketing going to say? Would you like to know the value of your house? Would you like to see my 3-bedroom, 2-bathroom properties? Yes, I'd like to know the value of my house. Great, let me comp your house for you. Oh, I see you have equity. I'm looking at PropStream right now. Now, we could put that towards these properties I have listed.

And you've—

have you heard of the tax benefits that you can do when you do that?

No.

That's a seller-buyer lead. Again, that's your job as a real estate professional is go after what's already on a list or just start creating these situations. Who's sharing one bathroom? Who has a high interest rate so I could start telling them about that interest rate that's going to drop next year? Because they're working 2 jobs. They don't know that the interest rates are going to drop next year, right? We do because we're real estate professionals. Our ears are to the ground when it comes to this stuff, but not these homeowners that are working day and night shifts. So great question. Again, the question was, can you stack data? Absolutely. But what I personally love about PropStream is that I don't have to go after what I know everybody else is going after. I want to go after who has a high interest rate. I want to go after who's sharing one bathroom. I want to go after— and this is actually a filter— inter-family transfers here. I want to know who just transferred, who just inherited a property right here, right? Who inherited property that lives out of state? Because you just inherited a property, but you also inherited California taxes. How are you going to handle that?

Right?

Create situations. Create situations. Or you can go after the list that we have. I mean, again, both work well, but I will say what's going to separate you going forward is just being able to just create that situation that you know is going to start brewing something, or that, that scenario that that homeowner needs to be educated that there's a better scenario for them, right? So that's it. That's PropStream in a nutshell. Property details, lead generation. You have another question? Just kind of follow up on what you just said.

Yeah.

Because on the postcard, I find that it's a little bit— actually, it's a lot less effective compared to, like, let's say, a few years ago. So what other marketing method would you recommend? They all work. Kind of add in. They all work, and as a matter of fact, we're seeing more postcards now, because what's been happening, and this is just my opinion here, I've been working with PropStream since 2013, and when we went online, and I mean propstream.com, 'cause we were a CD before, and so when we went propstream.com in 2015, we blew up because everybody needed MLS data. Well, we got it now. Right? And then the need for phone numbers came in, so skip tracing became a thing. And then postcards, that's always been a staple, so we brought that in. And then ringless voicemail. People are like, oh, well, this new thing, ringless voicemail, like I can dial 100 numbers and I don't have to talk to anybody. I could just drop the same message to 100 different phone numbers. So we actually had ringless voicemail until the FTC said you can't do that anymore, and the FTC regulated that out. We pulled that out of PropStream. And then SMSs came around, right? As a matter of fact, we acquired a company called Batch Leads and Batch Dialer. They still have an SMS, but the regulations are coming in fast and furious for that because now the whole thing with SMSs is the homeowner has to opt in.

You—

I have to give you permission to even send me that text. If you don't, you as— you and your company can face some fees, whatever, violations or whatever. So now we're seeing seeing SMSs get struggled down with, right? And so what's the next thing that's happening? AI. Hey, by the way, you don't have to call them anymore. Our AI will dial out for you. Our AI will talk on your behalf. It sounds like a human, right? So now you're on this borderline of robocalling technically. And now we're starting to see the FTC raise their eyebrow. And so what's been happening is first, If you didn't catch the wave right away, it gets— the wave eventually dissipates, right? But there's always going to be those staples: cold calling, postcards, door knocking. And so, not that the postcards aren't working, it might be that the messaging or timing may not be the right thing, right? So, again, this is more for Joe. You probably want to talk to him about what's that frequency of your postcards being sent out? What's your follow-up look like? What's your messaging look like? How are you separating your postcards from others, especially in this market where, I hate to say it, this market is very affluent. So if your postcards don't look quality, if they don't look waxy, if they don't have that nice little gloss to it, do you think these homeowners are gonna wanna deal with you?

No.

That's the thing. So every market has their own little, system, if you will, right, of how homeowners want to be addressed, how they want to be marketed to, right? If you were saying Laguna Niguel, this is where I work, that's my biggest market, I'd say postcards. You know how many senior owner— senior homes are in that market, right? So postcards would be your best bet there, right? Or cold calling, because they're probably, you know, they're gonna be right next to the phone, so call that landline, right? But if you're in a more younger market, Seattle, Maybe the Bay Area, you know, the Silicon Valley technology. I would say SMSs. I would say emails. I would say that would be your bet. So you got to know your audience, and then that will help you pivot on how fast you should be doing your next marketing or what type of marketing you should use. So great question. Anybody have any other? Omar, what's going on? Yes, great question. So Omar asks when we skip trace. This is a question for our skip tracing here. So remember, skip tracing means we can get you a phone number or an email. So part 1 is you build your list first, right? I want all the homeowners in California or Orange County that didn't pay their taxes. So you build that list first, right? We have 4,800 homeowners sharing 1 bathroom with their children. I can take that 4,800 and then I can get phone numbers or emails. And then, Omar, to your question, Will PropStream show you if they're on the do not call list or not? The answer is absolutely. So let me see if I could show you an example here. Please don't take any pictures. But right there, Omar, you see that little DNC that I'm highlighting? Like right next to the phone number, it says DNC, and then there's— it's also right here. It's just a little legend. But as you're going through the phone numbers, you'll see the do not call list. So again, When you skip trace, we will tell you who's on the do not call list. And actually, in the next few weeks, we're gonna update the UI. It's not gonna also show you who's on the do not call list, but who's also on the litigator's list, right? Who's a known litigator that you wanna definitely avoid, 'cause you don't want any lawyer fees. Is skip tracing another cost? So, great question. So, we haven't talked about that yet. Let's do that now. I don't— so, Omar's question is, what's the cost of skip tracing? It's 12 cents, address, but it depends on what plan you're on. So we have monthly and annual plans. Let's talk about that first. So the Essential plan is $100 a month, and it gives you 25,000 addresses nationwide, right? So you could search addresses after— it's when you start saving them onto a list. So like, I haven't saved anything yet. None of that cost me anything because I haven't saved I haven't exported. So once I'm like, okay, this is the list I want, and I save it, that's when it starts counting against the 25,000 monthly exports. But with that plan, $100 a month, it's 12 cents an address for phone numbers and emails. So here's my honest response to you. If you think you're going to skip trace more than 1,000 addresses, just go to the next plan. Because if you do the math, 1,000 addresses At 12 cents is $120. That extra $100 minus the $20 would have gotten you the Pro Plan, and that Pro Plan not only doubles your monthly saves, it comes with that— you get free skip tracing up to 50,000. So do the math, that's $6,000 in contact information you're not going to have to pay for. So if you wanted to literally pull all the cash transactions in Orange County in the last year and get all the phone numbers of those buyers, You can do that in PropStream, up to 50,000. And then not only do you get double the plan, or double the records and free skip tracing, it comes with 2 additional team members as well. So, there's a reason why we're here, to network. So if you guys are like, hey, you know what, let's work together, I— you guys get where I'm going with that, I'm not gonna say it. But yes, so again, some of our plans do come with team member accounts, and if you're just like, hey, $50,000 is way too much for me individually, right? Let's work something out together. But that's our pricing, Omar. So it depends on your plan. It's 12 cents an address to skip trace, but that's if you're on the Essential plan. The Pro plan or the Elite plan will get you free skip tracing. The Elite plan, which I hope you guys one day get to, That's like a call center plan. You get 100,000 records every month, 10 usernames and passwords. So let's talk. Hopefully in the next year, you know, hey Burton, I'm on your Elite plan. Hell yeah, right? Hopefully we all get there.

That's the goal.

That is the goal, right? And again, we're here to help each other. You gotta— I can't emphasize this enough. Enough. This is why I always love to give Joe his flowers. The networking is the most valuable thing that we can ever do in this space. You can go to as many classes and, and absorb information, but there's literally someone in this room today that could change the trajectory of your entire legacy, of your family's history, right? So I always say one of the things that we should do when we're networking is just be open. And it's a two-way street, right? Because I remember coming to these events, and I remember the first person I spoke to— this was in LA, Downey, when I went to my first real estate event. This was like 2014. The first person I bumped into was so rude. Like, oh, have you done any deals? No, I'm here to learn. Well, it's probably not your place then. And I just went home, right? So two-way street. Like, I Don't be that person, right? Because there might be someone here who hasn't done a deal yet, but they're gonna figure it out. Or they, they have something that you don't have— the ability to negotiate, the ability to connect with the human that you might not be able to connect with. Or they might have this, this skill set with technology that you're trying to figure out, right? So it's a two-way street, right? So be willing to ask, but be willing to give as well. And that's it. Oh, and the last thing I always like to say. In my last— in the 13 years I've worked at PropStream, I've learned this one amazing thing. None of us planned on being here. How many of us were in grade school, wanted to be a real estate agent, a lender, or an investor? Raise your hand. Right? And this is why I love this industry, is because we had to go through this like whole up and down. We had to get our teeth kicked in. We had to get our wins, our losses. I went through a divorce and all this stuff, but now I could connect with a single father or someone who's going through that, right? What I mean to say is that you're here for a reason. I'm not trying to be religious or anything, but like just think of the odds of just A, being a human, right? And then think of the odds of even just surviving. There's this old quote I love to hear. I always have to remind myself, old age is a privilege denied to many, right? But that's the cool thing, is that you went through all of these ups and downs, these ups and these valleys, and these peaks and these valleys. You had to go through that because it's what made you who you are today. So all your situations, they were supposed to happen. And that's what's going to help you connect with these homeowners. And if you understand the tone, or if you understand the loop here, what was the whole topic today? Creating situations, right?

Yeah.

So like, everything that you went through, you were supposed to go through that, so that you can help these homeowners. You can understand what they're going through. So I always have to remind myself, because sometimes we go through imposter syndrome. Am I supposed to be here? Is this what I'm supposed to be doing? Hell yeah, you're supposed to be doing this. That's why we're in this room together. All right, so connect, make some new friends, shake hands, two-way street, and enjoy the moment because again, we're supposed to be here. All right, so that's it. Any other questions? Is this a 1-year commitment? Oh no, no, no, monthly. You can— if you do the actual year, Omar, you get 2 months off, so you actually pay for 10 months. So if you're gonna commit to a year, that's the benefit. But what we'll do today, this is just on me, when you guys sign up, just say that you were referred to by Joe, and I'll pay for your first month. And if you already have PropStream, 'cause I know a few of you guys already raised your hand, just send us an email, support@propstream.com, and then we'll just add another 30 days to your account. Okay, so when you're signing up, put Joe's name, we'll give you 30 days, we'll pay for your first month. If you already have one—

We'll add 30 days.

Send us an email, support@prooption.com, and we'll just add another 30 days to your account. All right, anybody have any other questions?

No?

You guys are awesome. Thank you, Joe. Appreciate you.

Thank you. Testing, testing.

Yeah, dude.

Love it, man.

I'm gonna stand back here because I bought more questions.

Hard ones, easy ones. In fact, I think I'm going to do a little YouTube thing on Thursday with Alex about the 50-year mortgage. Okay, and I have different thoughts on that 50-year mortgage than I've been seeing. Like, there's this one guy, he's a CPA, and he's saying that, you know, basically you're a renter for the rest of your life, and I totally disagree with that. So let's take my example. Okay, I bought I bought my house 45 years ago.

Okay.

I paid at the time $160,000. It's worth $1.4 million now. So if I were to have, you know, got 100% loan back then, I'd still be paying on it, but it was only $165,000. And most people live in their homes 5 to 7 years on average. When I bought my home, I can tell you that my interest rate was 14%. Okay, it was 1980, just as Jimmy Carter left and Ronald Reagan came in. And 14%. Did I end up with that? No, I refinanced along the way. So 50-year mortgages are letting people who can't buy now the ability to buy a house. That they can build equity on over the years. Okay, and I've been on this planet for a long time, and yes, there have been downturns. 2008 was probably the most serious downturn, but you know, again, here I am, 165, $1.4 million. Housing doesn't go down, it just continues to go up. So, um, I My opinion on 50-year mortgages? Okay, so what? You know, make 60-year mortgages. It's just going to reduce the monthly payment. Okay, and then you're not going to be in that for the entire time. You're going to, you know, property's going to go up and down, and interest rates are going to go up and down. When mortgages start to go down, don't you think like, uh— I'm not buying a house. I was saying, like, people have 6, 7% loans. If it gets down to 5, like, yeah, they're gonna start refinancing. They're not dumb, you know, they're gonna start refinancing. So it's not, it's not gonna be a 50-year loan. It's just that's the tool you're gonna use to get you to buy that property. Okay, so that, that's how I feel about that. So I'm either right or wrong, but you're never wrong, right? Right? Never wrong. Thank you. I can look at my supporters here. Any other questions? There was a couple more hands up, but now they're gone.

Yes.

No. I know that they have to have Congress rewrite the laws because FHA basically is the mortgage lender and Fannie Mae, Freddie Mac. They have to rewrite the laws because the laws say right now it's 30 years. So they have to rewrite it to 50 years, but, you know, tell them to quit taking a month off and get back to work. And write that loan. Yeah, 45 days they've been gone. It's like, thank God they're back. Creative seller financing, if you know how to use it, is a powerful tool right now. Yes, it depends. It depends how creative they get because, you know, we're talking about loans that, like, if you have a loan now at 2%, you can take that with you to the next property. That's awesome. You know, you can— if it's an FHA or VA, you can assume that loan right now as well. So yeah, like I said, anything and everything that deals with making homeownership easier is awesome. Yes. And if you're not— obviously, if you don't— if you're not buying property If you don't own a house, you should seriously be looking at doing something like that. Okay? Because just buy it, you know, live in it, even if you have to live in it for the rest of your life, which you don't, but live in it, rent it out, buy something else. Yes?

I have a question about the property taxes.

Yes. Okay, so you're— yeah, you're not using the filters correctly. And I was telling Burton this earlier. I'm searching Riverside. Here's Here's my plan for the next 2 years. In 2 years, I'll be old enough. The government's telling me I have to withdraw my 401 money. Okay, so I plan on withdrawing probably $100,000 a year. So I'm looking for property in Riverside that I can put down anywhere between $50,000 and $100,000. And it's out there. You just have to do the filters correctly. Okay? It is barely going to cash flow, if if at all. But I don't really care because what I care about is that I can put that $100,000 from my 401k to purchase this property. I'm going to do a cost segregation. Back my play here. I'm going to do cost segregation, which is going to let me write off more than $100,000. So that money that I'm drawing out of my 401, tax-free. Hello? Why not, right? Am I okay with all that I just said? Yes? Thank you.

Yeah.

Yeah, and I can do that for the amount of time that I run out of money in my 401, which would probably be a little over 10 years. So in 10 years, I will own property and not pay a penny in capital gains tax. Taxes for withdrawing my 401 money.

Is that planned or what?

Yes. Uh-huh. No.

Okay.

Okay. Should I call you Donald Trump Jr. now? Because you're not going to pay any taxes if you do all that, right? You get it down to zero. It's like, hello. There you go. Absolutely. Yes. Why not? It's in the tax system. It's legal. It's, you know, I'm not doing anything illegal or anything like that. Be very creative, but as an investor, that's what you have to be, right? Creative. Any other questions?

Yes.

A loan modification? Okay, okay, hold on a second. So let me see if I can answer your question here. The loan modification— what's the purpose of a loan modification? Means that you're not paying your mortgage, right? Yes, yes, yes. Yeah.

Yeah, yeah.

I, I went through 2008 where everybody was talking about loan modifications. The problem is with a loan modification, you actually have to have a job. You have to prove income. Because if I take, you know, a property that I have a half a million dollar loan on at 8%, and then they modify it down to 1%, if I can't make that payment even at 1%, why would they modify the loan, right? So those never worked. How long have you been in real estate?

Yeah.

Okay. Do you want truth and reality? Because I went through all this. I want truth and reality. Yeah, but you want them to get to the foreclosure stage. You don't care about them doing modifications. Yeah, no. That's like an oxymoron, honestly. What happened is, and I had people who I would tell, you know, I'll list your property if you want to do a loan modification, we'll go ahead and do that, because I knew that it would never work for them because, you know, they didn't have jobs and stuff. The 3-payment rule came up with the banks because they wanted 3 extra payments before they foreclosed on me. And back then they were literally like, okay, we've got our 3rd payment now, and now it's time to foreclose on them. And then they actually had to put laws in place that they couldn't do that, which, which is where we're at right now. You know, they put you on that 3-payment plan, but they can't foreclose on you during that time. Back then they didn't care. They were foreclosing on people. Yeah, that's when they came up with the 3-payment thing. We get 3 more payments from this guy before we foreclose on him. So that's kind of the reality, and I think what you're hoping is that that doesn't work and they go into foreclosure and you can tell them that Because I used to tell them that all the time. Yeah, sorry, here's reality. Are you going to be able to get a job in the next 3 months and make up all this arrears? If not, then, you know, let's try a loan modification. But they always rejected them, you know, because like I said, it's like, if you're not working, how are we going to say— how are we going to modify your loan? Even if it's zero, how are we going to modify it? You can't pay that. You know, zero percent, but you still have to make the payment, right? It's like it just it doesn't work. Yeah, when you get the bad news from the bank. Oh yes, yes. No, that, that goes on to the next property, so your basis will be less. Yes. So you—

correct.

Yes, I know Kip is from Madison. Yeah. Okay, any other questions? Yes, no, maybe so. Thank you. We've got this room till 9, so please network with each other. I know you've already been talking to each other. Please network with each other. If you want my contact information, let me know. If you want to buy me lunch, I'm hungry all the time. Just let me know. I appreciate it. I had lunch already. Or actually dinner. It was dinner. I ate here. It was actually good food. Did you guys enjoy the food? It was pretty good. Yeah, not bad. We will be here next month. I think it's on the 29th, Alex? 29th, yeah. And that's my crystal ball event, so I will predict the future, which I don't think I did a really good job last year, but I will do that.

I think you did a good job.

Thank you for coming. I appreciate it.