Against the Clock

What's going on, everybody? Welcome to the first episode of Against the Clock. So this is a live series where you're going to see me literally, quite literally, right here, race against the clock. And I'm going to give myself 30 minutes to take massive action. So if you've ever wanted to be a fly on the wall and see how an operator or someone who's locking up deals takes down deals, this is exactly what you should be watching. So if you've ever just wanted to be like, man, I just need the experience, I want to see how it works to do the actual thing, that's what I'm going to be doing. I'm going to be doing the actual thing. So I will be starting my timer here in a second. Give me a few minutes to get the ball rolling here. I'm gonna get, uh, get all my stuff set up and then I'm gonna hit— I think it's a— I don't know if it's a 10-second timer, 3-second timer. We're gonna find out here in a second. So as I'm kind of getting stuff set up, it's, um pretty ironic on the gym counter I have here. I actually started my business journey with this exact clock, and so now I'm starting a new chapter with the same clock. So I opened up a CrossFit gym— this was probably about 10 years ago— uh, with this exact clock. So this, uh, this timer has aged very well for me. And I'm excited to dust it off and get to use it again. So give me a second before we get ready to rock and roll. One thing I was looking at, I was looking at, you know, getting things set up, looking at my email. Uh, by the way, I can't share my email, so whenever I share my email, and anytime you share like confidential information like names, phone numbers, emails, YouTube will automatically just remove that. so I don't want the live taken down. So I won't be sharing my email through this series. I will share as much as I possibly can, but there are certain things that I just can't share because of, you know, those reasons that I just mentioned. All right, so let me take a peek here. Uh, I got one last thing. Okay, cool. Let me get this going. And so I'm going to be doing a mix of different things. I'm going to be rainmaking, so I'm going to be acquiring leads. I'll show you how to get leads. I'm going to be underwriting properties. I'm going to be, uh, calling agents and negotiating. So you're going to hear me have conversations with agents. You're going to hear me have conversations with agents throughout the— this series, which I'm going to be doing. This series will be every day, Monday through Friday, 10 AM Eastern Standard Time. Now, there's going to be times where I'm traveling, uh, that I won't be able to do it, but you'll know. I mean, you'll either be live or I won't be live. So I'm going to be doing it as much as I can and as consistently as I can. Let me get this set up here. Okay, so I am going to start. Let me share my screen so that way you guys can see the actual things that I'm doing. And the first thing I'm going to be doing is starting off with our lead acquisition stuff. So we're going to be using Deal Sauce. So that's what I'm currently using. Let me share my screen. Oh, let's see, screen 2. Okay, awesome. So this is what I'm using. I'm using Deal Sauce, and then we're gonna walk through how I'm going to get leads into my underwriting software and go from there. And this is just going to be the normal everyday flow as we're going in and taking action. So now is when we're going to start the timer. 10 seconds. Ready to take action for 30 minutes? Let's do it! And we're off to the races. So first thing I'm going to do is I'm going to go into Indianapolis, Indiana. I'm going to be pulling on-market deals, so I'm going to be looking through. And yes, I am moving fast. Like, if you're looking for the step-by-step slowdown, I would watch this on repeat because I am not slowing down. There's a lot of times where I go very, very slow um, on purpose. This is not one of those times. I'm here to take massive action. I only have 30 minutes, so I'm doing active on-market listings. Uh, let's see, we want to do 40% equity or higher. I'm going to be targeting Morby Methods. I'm looking for purchase price somewhere on here. Let's see, where is it at? Where is it at? Come on, come on. Um, the time is ticking, right? Uh, here we go, $110,000, and I'm gonna do 285 because— oh, it's, uh, bugging out on me here— 285 because I'm gonna do LTR. Now there's a decent chance that I've already ran through this list, to be honest. Um, so let me, let me clear. I'm going to reset these leads. Okay, I want to see this list. Back to the search, I'm going to select all these. So they kind of have this weird wonky setup. I, I'm not a fan of it, but we're not here to talk about that. Uh, so I'm going to— let me see, what do you have to do? I think you have to send these to your portfolio because I'm looking for the agent contact information. So we're going to send this to my portfolio, and then I have to go to my portfolio, and I believe I just have to sit here and wait, uh, for this to process, which actually could take some time to process. I literally just sit on this screen and wait for things to happen. Uh, there should be something that pops up here in a second that asks me if I want to download the agent information. So I'm just gonna wait. As I'm waiting, I don't have time to waste, by the way. I have 30— 27 and a half minutes, so I'm here to take action. I'm looking through my phone. Okay, I put in an offer on this property the other day. Okay, here it is. Download agent information, that is a yes. I'm gonna hit save. It's gonna take me a second. I'm gonna call this agent. I have no idea what this property is. Actually, we're going to do a couple different styles. We're going to do a couple styles of me not knowing anything about the deal. We're going to do a, uh, another variation of me knowing what the deal is beforehand by looking at the underwriting software. Right now I'm going to call. I have no idea what state this property's in. While I'm waiting for this to download.

Good morning.

Hey, good morning, how's it going? My name is Mundo. I, I put in, uh, put in an offer on one of your listings here about a week or so ago, and I apologize, I'm just now getting to following up with you. Yeah, my name is Mundo, and this was on, uh, 2502 10th Street.

Oh yes. How much did you offer?

Did you say $65,000?

Uh, I don't have it up right in front of me. Uh, I know my team helped me put this one together, but that sounds probably about right. So it was a seller finance creative type of offer with a large down payment.

I thought I responded. That's why the number jumps up at me. Do you mind giving me a moment and then I'll call you back when I check? You say you spell your name as Mundo, as in M-O?

M-U-N-D-O Sanchez.

Okay, let me get back to you in a little bit.

Okay, yeah, yeah, no problem, perfectly fine. All right, take care, bye. So she's going to be doing research on her end. Hopefully she's not looking me up on YouTube right now because that would be a problem. Um, that is my one concern about calling agents live, is that they come out and be like, yo, why are you live right now? And I would say that's a good question. Okay, so I'm gonna stop sharing on this file because it will have agent information and I don't want this taken down. So, but in the background I'll explain what I'm doing. So I'm going to open up this CSV file. Now unfortunately, the data in this Deal Sauce file does not come with 100% match on agent information. There is a lot of missing information, which is, you know, kind of frustrating. But, um, overall I think Deal Sauce is probably the highest quality of data source that I've seen. But what I'm looking here, let's see, that's actually a problem because now this Deal Sauce import looks like it's changed. Um, because I don't see emails on here at all, which is unfortunate. Um, we're gonna upload it anyways and just see, see if we can make this work. So if, if the mapping has changed, it's probably going to break our software here, but we're gonna see. Even if it does break, we're still going to be taking action. So, um, and that's part of the thing is like not everything is perfect all the time. You just have to roll with it. Uh, let's see. So I was doing a podcast this morning, and it's actually called Doing Dishes with Mundo. My wife wants me to do the dishes, but I'm not going to sit there and do the dishes without like getting value out of it. So I started a podcast, Doing Dishes with Mundo, and I talk about the day, talk about the, the mindset, talk talk about the plan of attack for the day. And while I was, you know, my first, or really my only task in that— wait, why am I talking? Okay, we have 23 minutes. I don't have time to be rambling. Okay, sorry about that. All right, let's get to it. So let's go to underwriting. I'm going to upload this file. We're going to go to Morbius Methods, bulk upload. Again, I'm not sure if this is going to work because it looks like the, the mapping has changed, but we're going to see if this works. So I'm going to upload this file And it's going to take a second. Meanwhile, while that's extracting the data, I'm going to go and look at— well, I don't know how long I should give this agent for them to call me back. Um, we'll see. All right, so we're missing taxes on this one. So we, we're gonna need to— hmm, we have a lot of duplicates here. We have a lot of missing taxes. So we're gonna need, uh, let me see, how am I gonna fix this? We may have to skip the bulk underwriting portion if that's the case for today, and I'll have to work on this. Let me go to my Buy Box here. Let me see if I have that. All right, so this is Indiana. I don't have property taxes in here. Okay, that would be— that would explain— that would explain why. Let me make sure everything's saving correctly. All right, I'm, I'm not going to give this lady much time because I only have 23 minutes, so let me call someone else. Uh, okay, I may have to re-upload that file because I didn't have that saved in my settings. So because Deal Sauce doesn't have the property taxes, which I really don't know why, uh, I have to basically come up with the property tax number myself. So it looks like that does save, and I'm doing it— you can either do it at the state level or I can do it at the zip code level. And I'm using, um, Buy Box Club, which we're still in the process of testing out. So, all right, I'm gonna go back to this file and I'm gonna delete this file because when I uploaded it, I didn't have the property taxes saved. So I'm going to get rid of that file and then I'm going to re-upload it and see if we can get that to run and pick up the, um, property taxes on our own. Again, there's no guarantee that works. I really wish the, the Deal Sauce file would pick up the property tax, because then that would make this a lot easier. Okay, so let's call the next person.

317—

let's check out this file first. Okay, cool, it picked up the property taxes. That's awesome. So we have missing rent, so I wouldn't underwrite this property if it's missing rent. So I have Rentometer integrated, Rentometer API integrated into my account. So I'm going to go ahead and click that, and let's see if it picks up anything. This is one that I've been testing. It's kind of been hit or miss if it's working or not, so I'm still working out the bugs on this one. But we're going to see—

I don't—

we're going to see if that's working while I make this phone call. If not, we're just going to upload— we're going to underwrite these for sure. So Actually, one second. I did notice something. Give me a second. I made an update this morning to the software and I don't see that it's picking up No, I think that's— I think that should be working. So let's see. All right, so we got, we got this one. We're going to underwrite these 171 properties. Actually, I accidentally hit all of them, so that's fine. Uh, so we're going to upload. So this is going through and it's going to hopefully— okay, cool, it's— it is going through and pass or failing some depending on— so this is taking my buy box and underwriting them based upon my buy box. So I have parameters set in my buy box and it's going to pull the good deals from the bad deals, and that's the point of what I'm using this for, so that way when I'm sending out LOIs, it's only going to focus on the good. So the problem I had before is just blasting out LOIs to, let's say, these 400 properties. People are calling me back and they were interested, and then I start underwriting the deal and I'm like, oh, I'm, I'm not interested in this anymore. Um, then I look stupid because then I have to do this whole song and dance. Um, Yes, uh, Jay, if you're watching, absolutely. Okay, so let me call this agent because I don't need to sit here and watch the system go.

Hi, if you record your name and reason for calling, I'll see if this person is available.

Mundo Sanchez to discuss offer on 1721 South View Drive.

Thanks, Mundo Sanchez Sanchez.

Please stay on the line.

See, we got— what are we on the count? We got 17 minutes. Holy cow, that was going by fast.

I'm sorry, this person is not available. If you would like to leave an additional message, please reply after the tone.

Hey, how's it going? My name is Mundo Sanchez Sanchez. I am calling on an offer that we put in for 1721 South View Drive. Feel free to give me a call back at this number when you get a chance. Thanks. Bye. Okay, that in itself is a tip. If you've never made a bunch of calls, don't just start spewing, oh, I got this. Hey, I'm calling you about this. Uh, Morby Method or the seller finance. Like, just, just stop. Like, just, just keep it simple. Just tell them you're calling about the property. Like, don't even say anything else. You want them to return your phone call so that way you can then have a conversation and walk them through the deal and kind of build a rapport and do all that kind of stuff. So, all right, so it's still underwriting. So far we have 19 deals or 20 deals that have passed underwriting. And that is in counting. And this is probably about pretty fair, accurate, um, based on the ratio that I see of like what passes or fails based upon my underwriting standards. Okay, so I need to do one thing that I need to do as far as future sessions. I need to do a better job at cleaning up my email. So I have, you know, not been doing a great job at this. I'm seeing a lot of really just old— like, I have stuff in my mailbox from a year ago. I'd be curious if it was still on market. Um, this is literally one year ago, so I'm going to start clearing this stuff out. This guy was interested a year ago. I bet that's not an option anymore. Okay, 3 weeks ago. What is your offer? Okay, so I love it. I love it when agents don't provide their phone number. Like, I love making it super easy for me to contact you. That's amazing. Uh, okay. Oh man, this was a hot lead from 3 weeks ago. I really should have, uh, I really should have addressed that one. All right, so it's still running through a passing or failing, and these are all deals that I'm not touching. I'm not underwriting. I've already set my parameters of what my buy box is, and it's running through and underwriting them all for me so that way I can spend the time focusing on the good versus the bad. So as far as like prepping for, let's say, tomorrow's session, I want to do a better job at cleaning up my inbox, separating the good, or as far as separating the interested ones, so I have a clean list of what I can just pick up the phone and call. Uh, and then the purpose of what I'm doing for today, like these LOI, or these properties that I'm underwriting, I'm going to start sending out LOIs. I actually don't want to, um, or I'm not planning on having conversations with these agents today. This is really for sending out LOIs today so that way I can have these conversations for tomorrow and Wednesday and the next day, all throughout the week. So if I just kind of keep this pipeline going of deals, uh, not deals, leads being pushed out, then I can keep a steady flow of call volume for me to work on deals. So I'm still waiting on that one phone call back from the agent. And so let me see this property. They sent a response 3 weeks ago and they said that this deal is not going to work. However, I have this other deal that checks a lot of your boxes. So what we can do— while I actually want to leave this up and running, I'm going to keep, I'm going to keep this up and running. Actually, we're gonna— I'm gonna experiment. No, we're not gonna experiment. Uh, let's see, I think it's gonna force this pop-up to Okay, it's going to continuously persist. I'm gonna— I want to see if I can get rid of that so I can continue, but I bet what I can do is log into another session here. Yeah, perfect. Awesome. So if you look at last month here in a second, once this loads, last month I underwrote 632 deals. Only 99 were good deals. I sent out 112 LOIs, and of those 112 LOIs, only 3 were being negotiated. So that just gives you an idea, like, you just gotta get volume out there. Okay, we got 12 minutes left to make something happen. Um, I'm gonna underwrite this deal real quick. Single family, more method. Uh, I'm not going to provide the address, all that information right now. So we got Let's see, actually I will. 1321 North Dearborn Street. What's the zip code? Uh, let's see if Zillow will work without the zip code. It might. Okay, cool, it pulled it in. It pulled in the purchase price, all that good information. So if I go over here, it already has my buy box assumptions in it. Cash to sellers, right where I want seller finance payment, all that good stuff. So now I can just look at the deal. It pulled in, um, comp estimates. So now I just need to put in the property taxes. Oh, I didn't pull in my property taxes. That's a little annoying. Let me, let me write that down. Um, as you can tell, I'm still working through and, and getting bugs. So I want to see property management— no, sorry, Uh, wait, what am I doing? I don't have time for this. Property taxes and insurance. Okay, so I'm gonna say that's about $1,800, and we're just gonna say this is probably $2,200. I'm just gonna do rough ballpark estimates. That's pretty high. I'm gonna charge 5% for myself for property management. I think CapEx can stay at 10. I'll just leave that there. Refinance, we're going to keep that at 8. Let's just call and just see what we can work out. There's no point of just making this magic scenario if, if, if they're not even interested. 317. Meanwhile, let's take a look at these. Okay, it's still running through. Okay, so I got 51 deals here. That pass. So I'm going to create 51 deals. So now these are all deals that are going to be created in my system. I'm actually going to create deals that fail the underwriting too, because I'm going to archive all those. And whenever— let's say I upload the spreadsheet again and it has like all these leads, I want this— the system to pick up that they're duplicates. So I'm actually going to underwrite those too as far as create them as deals. So that way I know in the future, like, hey, I don't want to keep re-underwriting the same thing. So I can't even see this phone number. 317-909— hold on one second, I can't see his phone number.

This is David.

Hey, how's it going? My name is Mundo Sanchez Sanchez. I, uh, put in an offer on one of your properties a couple weeks ago. I apologize, it's— I'm just now getting back to you on, uh, it was originally on, uh, Dearborn Street, but then you mentioned you had another one where you thought my offer would be better aligned for, uh, 1312 North Dearborn Street.

Oh, okay, let me try to pull that up.

Are you running a little mini empire on Dearborn Street, or—

No, right, exactly. It just so happened to have two different sellers Um, that had them on Big Boy. It just so happened that they're both investors and have properties on that same—

oh, I guess it was crazy.

Yeah, no, that's awesome.

Did you send the offer over on it? I see the email I sent it to you.

Yeah, well, 801 I sent an offer. I did not send an offer on 1312, which I'm— that's the one I'm interested in, because I think he said 801, they're like, hey, this isn't gonna work, but 1312, it might be a good fit.

Yes, yeah, yeah, yeah.

So what do you— if you kind of take my terms on the 801 Dearborn, is and match it up against this 1312. What are you, what are you thinking there?

Um, let's see, purchase price. So because it's at— he— let me pull that one up real quick. So we're at $299,000. Um, he's willing to do seller financing on that one. Um, but I think he's gonna want at least, uh, probably close to $100,000 down.

Okay, and what do you have it listed as? Like, uh, I got you. Okay, okay. And so the, the duplex, like, that it is for— I know It sounds crazy, but I do have to ask the question. Sometimes people try to sell the duplex like split parcels and stuff. It is like overall, right?

Yes, that's the over— so it is split, but that's the overall price. So you will be buying both, um, parcels. Yeah, he, he split it before I got a hold of it, and I told him that he should have just left it as a duplex.

I got you, I got you. Okay. Okay, cool. Um, what do you think is most important to him? Uh, is it like, uh, some sellers want a stronger monthly payment and then some sellers like really just want a large down payment and get as much cash as possible up front?

Yeah, that's, that's his— the bigger, um, down payment. And actually, I can sit through my emails because he sent me like some terms for another he had another property and it almost was close to that. When I can sift through the emails and send you over like the structure he had, because he had it with the points that he's offering and everything. So I actually can find that and send that over to you.

Okay. Yeah, for sure.

That may actually work a little bit better.

Yeah. So basically the way I look at it is, you know, I'll underwrite each individual property and I'll see what that property can basically afford for the monthly payment. So whatever the comps are in that area, what we think we can generate in rent, I'll kind of back into trying to get the seller as much as I can on a monthly payment, or, you know, going heavier on the down payment initially up front.

Okay.

So I try, I try to structure it, you know, win-win for everybody, but then I also, you know, got to find a way to at least break even and pay the bills too.

Yeah, I totally understand. So yep, yeah, let me find that and then I'll send that over. Give me like 10 minutes.

Yeah, yeah, no problem. No, no problem. That sounds good. And then I'll take a look and see what I can come up with on my end.

Sounds good.

Awesome. Appreciate it, man.

Alrighty, thank you.

All right, thanks. Bye. Okay, cool. So we got that, we got that deal in the works. That's awesome. All right, so we got 4 minutes left. I want to spend the rest of the time making some phone calls. So let me go through. I need to move that to— that was a pretty good one. I'm going to move that over to my hot leads section. Uh, nope, this is 3 weeks ago. Seller's interested. Okay, I called that seller. Uh, let me go through my mailbox. I'm probably— since I only have 4 minutes left, it's I don't know if I have enough time to go through another call, but I'm going to go through and stack up where I'm at with leads for the day. Um, and then afterwards I'm going to send out— LOL, actually, you know what, the leads that I generate today, I'm going to wait till tomorrow to send those out. And then we'll, we'll truly keep this as like 30 minutes a day of just taking action. That way you're not seeing me do like stuff behind the scenes outside of like testing software and stuff like that. So let's see, we got a couple minutes left. Let me see if I can run through. Hold on, I got like 5 monitors. I'm like, where, where's my mouse? I'm trying to find where my mouse is going. Okay, we got monitor 1. 2, 3. Okay, found it. All right, cool, cool, cool. All right, so this is the one that she was gonna give me a call back and she hasn't yet. So obviously if they call me outside of this, I'm gonna have to take the call and, you know, do what I gotta do. So let me move that over to my hot folder. Um, let's see. Yeah, man, I'm just— I'm having to sort through all this like junk emails, which is why it's really important to— I got a 44-unit that I need to underwrite. We're definitely not going to have time to do that today. Maybe might do that tomorrow, maybe. I may have to do that today offline though. Uh, let's see, uh, let's see if I can call one more. Um, yeah, I mean, I mean, the theme of today is really just getting organized. I mean, that's, that's so, so critical. So the work I'm doing right now, although not the most sexiest minute and a half left for today, I gotta, I gotta clean this stuff up. I mean, I'm looking through like all this like Upwork and random BS emails I just need to get rid of this stuff so that way I can just be like laser focused on all the leads that are coming through. Let's see. And I think since we only got a minute left, that's pretty much going to wrap us up for today. And then if you got any questions, if you're watching, just shoot me a DM, show me, or just tell me like, hey, I would love for you to do this tomorrow, and I'm happy to kind of take a look at that and kind of move in the direction that you want to see me move. I'm happy to do that kind of stuff. So I'm going to keep cleaning up my— this is something I will be doing offline. I want to clean up my inbox for tomorrow so that way it's very, very clean and structured. And that pretty much wraps up for day 1. So made a few phone calls. What did we make, like 3 phone calls? And then only one of them answered. And it actually seems like a promising lead. So hopefully they'll send that over to me today. And then we can look at that for tomorrow. So you see, you don't have to have like hours upon hours of work to like move things forward. That's the time for today, so I appreciate you watching. I'm keeping it short and sweet, and I will see you guys tomorrow. Take care, everyone. Actually, of course he's calling me. Hello, Mundo Sanchez.

Hi, this is Matthew Cressy with Red Oak Real Estate Group.

Hey, hey, yeah, I was calling about, um, the, uh, offer I put in. I apologize, it took me a little bit to get back to you, but just wanted to check in to see how that listing was going.

Listing is on the market.

Okay, okay. So is the seller interested in the seller financing type of terms?

They are not. I believe I responded to your offer.

Oh, I apologize. I, for some reason, I thought they had some interest. I That's, uh, totally my fault if that's the case.

Let me see, uh, hold on, let's see what we're talking about.

Uh, oh, it said, uh, it said the seller is interested in learning more, please provide additional details. But okay, but that was 3 weeks ago, so I don't know if things have changed. So I apologize, I took, took some time to get back to you.

That's okay. Uh, on Southview, the seller is not afraid of seller financing, but if you have a term sheet in detail with an offer that you want to send, they are willing to look at it.

Okay. Do you have any inklings or feelings towards like if they care more about getting a large down payment up front or like a stronger monthly payment or anything to that effect?

Uh, the larger down payment would make more sense.

Gotcha, gotcha. Okay, well, I can, I can take a look at the, the numbers and sharpen the pencil and, and get back to you on that and see if that's something they're interested in.

Okay, sounds good.

All right, appreciate it, man. Thank you.

Thank you.

Appreciate you.

Take care.

Bye.

Okay, let me save. I'm gonna start— very important to start saving agents' numbers. Uh, what I personally like to do is I like to put a little home emoji, and that way when I search my phone, I just put in the home emoji and it shows all my agents in my contact list. Um, so that's a little trick I do, especially with people in Sub2. I have the, the peace sign people in Owners Club. I have a trophy— I think I have a trophy sign. Yeah. And then I can find all the people that I need really, really quickly that way. So that's just a neat little trick that I do, and I put that in the, uh, in the company field, so it'll still show up. So, all right, that's it for today. Tune in tomorrow, and we will start sending out LOIs tomorrow and cranking away offers. All right, take care, everyone.