Deal Finding Friday LIVE - with Nathan Valle!

Good morning, good afternoon, good evening. What is up, guys? It is Deal Finding Friday and it's time for us to find some deals using Privy. All right, let's waste no time. We're going to hop right into it. Guys, if this is your first time tuning in, my name is Nathan Valley. I work with Nathan Payne over at Investor Thrive. We got a lot of cool stuff going on over there. And today I'm going to be showing you guys how I like to use Privy to find deals. Guys, I know I say it all the time, this is arguably my favorite tool of all time. Honestly, it's crazy what this does. So real quick, first thing I do is I always, guys, if you've been watching, you know it, I go straight to my email box and I'm going to see what goodies did Privy send us today. Okay, now the reason I have all of these is because in Privy I set up my filters, right? You can set them up to whatever you have buyers for, right? Whatever their buy box, whatever their buy criteria is, you can set up the filters and then save that so that Privy each and every day, you don't have to look through, you know, hundreds of deals. Privy will do it for you. And then Privy will send you which ones fit your criteria. All right, what are we looking at here? Something fenced in, I don't think that's what we're looking for. Let's see, let's see, let's see, let's see. What on earth is this? Let's take a peek at what this is. Nick, what's going on, brother? Good morning, first time here. Dude, that's awesome. Thanks for making it. All right, let's see. This has been active. What is this? This does not even look like a house. Is this a house? Not interested. Now, why am I not interested? Because this is a weird property. I don't know if it's a house. It doesn't really look like a house. It might be, but not something my buyers would be interested in. So I'm not going to spend the time looking at it. Because guys, like, if you don't have a buyer in place already set up, it makes your job 10 times harder. And then on top of that, you know, I've mentioned this a few times, weird properties. I don't like weird properties, weird, awkward properties. I'm not a fan of. And the reason being is because buyers don't like weird or awkward properties because it's unpredictable. Right. By, you know, flippers, landlords, they want— they're investors, right? They want a predictable outcome. They want a high likelihood that they're going to make money. And with weird houses, sometimes it can turn out well and sometimes you could even win big, but it's a bigger risk. All right. This house is already under contract. Man, there's a ton of properties in this today. Ooh. All right. I like— I like the looks of this one from the picture. Now, as I'm kind of speeding through these houses, what am I looking for? I'm looking for indicators of motivation. I don't care what the price is. I really don't. The thing I'm looking at is, one, you know, is the layout of this property something that my buyers would be interested in right now? If you set up the filters, everything should be right. You know, I'm really only interested in anything that's at least 3 bedrooms. It's at least got to have 1 bathroom, right? Typically, I don't like anything under 1,000 square feet. Right. But all this information, if you set your filters up, is, is, you know, that's going to be good to go. So the next thing, if I'm not looking at pictures, what am I looking at? I'm sorry, if I'm not looking at price, what am I looking at? Pictures. Pictures and how many days it's been listed. Because I'm looking to see what indicators are there that there's going to be motivation, that there's an opportunity here. And guys, just from the outside of this picture, yeah, this, this thing, this thing could use some work. Oh yeah. All right. So is this something that could use a wholesaler, a fix and flipper? You betcha. Boom, right here. Investor special, guys. They're inviting you to give them a call. 3-bed, 2-bath. You need a deep rehab, potential is endless, only 10 minutes away. Awesome, awesome. Kevin, is there a way to filter how many years the property was owned? No. So this is just dealing with MLS properties. So it's dealing with, with how long it's been listed for. So I set filters. I set different types of filters based on how many days a property has been listed. Um, and then how much equity is in the property. Yes, there is a filter to where— here, I'll kind of go back to here. So in Privy, when you go to filters, so here's where you can select all your filters, all your options. Now you can also look for, do I want to look for tear-downs, buy and hold? Typically I just always have it on fix and flip. And then from here, I'm going to set the percentage of ARV. And what it will do is if I have it set at 75%, Privy will only email me properties, right? Or it's only going to show me properties that the price it is currently listed at is 75% of what comps are. Now, guys, of course, there's, there's algorithms to it, right? So it's like you still need to do a bit more of a deep dive, but this does 80% of the legwork for you. So rather than spending hours, you can just spend a couple of minutes of double-checking, you know, the ARV, double-checking the comps. Now, I like to be a little bit lenient with this. Now, for example, something 75%. The reason why I have different filters is, well, what if a property is listed for, let's say, $350,000. And let's say that's, that's not at 75% of ARV. You know, let's say it's, it's at like 90% of ARV. I won't get an email about it. But this is what I love about Privy. As time goes on and nobody buys that property and they decrease the price, they decrease the price, they decrease the price. As soon as that property, as soon as they decrease it to where the price is within 75% of ARV, boom, I'm going to get emailed about that property. That's what I love about this tool. So like, as you see, this property has been listed for 16 days, but I probably didn't get an email about this the day it came out. And that's probably because for whatever way, you know, whatever reason, it didn't meet my criteria just yet, which means I didn't have to waste my time looking at it. Until now. I hope that, I hope that kind of helps answer your question as far as, um, equity. All right, all right, let's give this thing a call. We got Joseph Walter. Now hold on, I just want to take a real quick peek at some comps. So for me, click on the comps button, boom, brings it up right here. Also guys, I've used a lot of comping tools I don't know, unless there's any like major changes that have happened in the very, very, very recent times, um, I don't think anything compares to this comp tool. Um, it's, it's so good. All right, let's take a quick peek. Now for comps, the first thing I look at is I like to look, um, now Privy automatically— this is a half mile. Now you can change, you can customize everything but a half mile is the standard. And I want to see what's, what's right in this neighborhood, what's right on the street, what's right next door to it. So ours is a 3/2, um, built in 1959. Now that's kind of one of the first things I'm going to look at is what year is it built, because that's the likelihood that it's going to be a really similar style house. So let's just take a peek at this. Um, okay, now normally I don't even spend this much time. I just want to get a rough idea what are things selling for in this neighborhood. What could this property, at a quick, quick glance, what could it potentially sell for, right? You know, and, and the only reason why I take a real quick glance is because I want to have a little bit of information for when I go on the phone. And if the agent tries to tell me, oh, this thing could sell for $900,000, you know, if it's done right, right, I'm going to be like, dude, come on, what have you been smoking today? You know, nothing sold over, over $350,000 in this entire neighborhood, right? So the chances of no matter how nice I make it, the chances of it selling for more than $350,000, probably very, very slim. Now the agent might say, oh, this could sell for $300,000 or $330,000, but at a quick glance, you know, I'm like, okay, maybe that's a potential, but he's definitely looking at the higher end. So let's give this guy a call. If I could scroll up, there we go. All right, so what we're going to do right down here— or, oh no, I'm sorry, his name's Scott. Scott Fader. All right. This is not the right guy. This is— man, I don't, I don't know if— yeah, we know that's the right one. Kind of nervous to call this guy. Is he selling houses or breaking down doors? Who knows? No, maybe both. All right, let's call them up. 248-294-7850. All right. The worst. Hello, you've reached Joseph Walter Realty. Nobody's available to take your— All right, I hate office numbers. Let's try to get this guy. So we can find it. Scott, he's got the same number listed, same number here. Come on. Try a different one. Come on, Scott. Ah, no, it's an 800 number. So, all right. What I would normally do is you could leave a voicemail, right? And you'll get a call back and, you know, they'll follow up with you. But for you guys, we ain't got that time. So we're gonna move it along. All right. Let's look for a different one. Nick, I saw your question here. What made you choose the market you're in? So that's a really good question. So we do, I don't know if anyone's attended this or heard about it, but we do a masterclass on Thursday. It's, it's, it's live. It's totally free to sign up. It's, it's— you can click on the link below or just go to painlessflipping.com. And that's one of the first things we talk about is the importance of your market. And with Privy, I know, you know, they're really big believers in the same thing. One thing when it comes to wholesaling, not all markets are created equal. And I know it's really popular for people to say, oh, everybody should start in their backyard. That, depending on what your backyard is, that could be a really bad, bad decision. Reason being, here, and this is what I love about the Privy Tool. A background on me is, let's see if I can, Zoom out a little bit here. There we go. Now we're seeing— so I don't have this set up correctly. Let's see if it loads at all. Investor activity. This is low. This should be way higher. I have something wrong in my filter search right now, but I'll give you the rundown. So, uh, when you're, when you're clicking the right button, you can see that the blue bubbles represent all the investor activity, all the, the deals that, um, investors in that market have done. I think it's within the last 12 months. Now these numbers are way lower than what it actually is for this area. I think I just have something preset that's, that's making it a smaller, a smaller number. But for wholesaling, a lot of people teach, hey, go run around, go get a property under contract, go make a bunch of offers. And then once you have that contract, let me go run around all stressed out for the next 7 to 14 days hoping that I can find somebody to, to buy this property. It's a totally backwards way of doing things. Every single other business, what do people say? Start with the end in mind. So when we look at it, wholesaling, I don't care how good of a contract you have, I don't care how good of a deal it is on paper. If you don't have a buyer that's willing to pay you for it, you're not going to make any money. So that's where we need to start. We need to start is, okay, well, where are my, my buyers? Because the buyer is your ideal client. That's the person you're truly serving. So we need to start there. Have you noticed if you look at a lot of the big investors, a lot of big gurus, have you noticed where are they all from? Phoenix, Arizona. Dallas, Texas. You know, Florida, whether it's Tampa, Orlando, Jacksonville, Atlanta. Right. They're all in these really big markets. Why? Because that's where there's a ton of investor activity. My market previously I, I, um, was West Michigan, had a really rough time in West Michigan. Why? When you look at West Michigan, not a whole lot going on here. And the funny thing is, we're— I was picking up contracts all up and down here, selling any of them. This was before I was introduced to Privy, so I didn't have this in front of me. Now, all the deals I was picking up are up here, around here, down here. If you notice, there's only two cities with any kind of investor activity, right? Grand Rapids and over here, which is Muskegon. The one deal we did in Grand Rapids was our biggest deal and our easiest. Made $67,000 and we sold it the day that we got it under contract. We got our contract on like a Tuesday, sold it on a Friday. But the problem was we're picking up deals to where there just wasn't any investor activity. Right. And so the number one rule in business is— there's the best way I can tell is with a story. There was Dan Kennedy. Some of you might have heard of him. He's known as the Godfather of direct response marketing. He's given a presentation on stage one time and he asked the crowd, hey, If you were to open up a hot dog stand and you could have any competitive advantage, what would it be? People start yelling out answers. I want the best recipe for hot dogs. I want the best. I want the nicest hot dog stand. I want the best location. He goes, you're all wrong. He said the only thing that matters and the only competitive advantage that you need is having a starving crowd. Before, when I was in West Michigan, right? And I didn't, I didn't have a tool that showed me the numbers. And that's what I loved about Privy, is Privy allowed me to look and be like, oh, well, that makes sense now. There was no starving crowd where I was picking up these contracts. There was no hungry crowd for, for, you know, what I was bringing to the table. Now let's, let's switch and take a peek at Orlando. West Michigan, the number was 60. And again, these, these are actually significantly lower. When I chose this market and my filters were set correctly, I used Privy to choose my market and I looked at my previous market, West Michigan. At that time I was looking at it, I think the number was only like 45. What I looked at Orlando, it was like over 3,000. Drastically different market, starving crowd in that market. Now, at the same time, you don't only have to be in Orlando or Dallas or, you know, Phoenix. There's a lot of markets that you get, guys. There's people doing deals, deals everywhere. But you definitely want to make sure you're not in a bad market. And that's kind of what this tool's been able to do for me in a really, really easy way, is making sure I'm in a market that's a good market to where there is investor activity. Because guys, the reality is, is you might be working really, really hard, you might be making a ton of offers, you might be doing all the right things, The problem might actually not be you. It might actually be the market that you're in. So I hope that's helpful. Let's try to make a call. All right. I hope that that answers your question, Nick. I know we went on a tangent there for a little bit, but I think that's something that's really, really important. And although it's, it's such a simple function of Privy, right? It's like, oh, let me just look at the blue, but like they made it so simple. And it only takes a minute to really to pick a market and to judge, hey, is this a decent market? Is there activity in this area? You know, they've made it so simple and it only takes you a minute, but it is such a crucial part. All right, let's look at some houses. Winter Park, that's Orlando. Let's take a peek at this one. Appreciate it, Nick. Glad you got some, some good info out of that. Do your research. Where are the best schools, best hospitals? Nope, I don't. Well, it depends on what you're doing. If you are, if you're wholesaling, It's not important, right? I don't necessarily care where the hospitals are or the, the best schools. All I need to know is where are the investors? That's who's buying my deal. That's the person that I'm serving. Now, good investors, they're going to do that research, right? They're going to figure out what neighborhoods they want to be flipping in, where the schools are, where the hospitals are. But that's not important to me as a wholesaler. For me, it's really just I want to know, are there buyers doing deals in this market? Is there a lot of them? Are they, are they hungry for deals? I hope that that helps answer the question. Great opportunity to own a home. They don't really have much pictures. Let's see. Boom. Special fixer-upper. Love it. Currently a 5-bed, 2-bath. 2 bath. Okay, let's look at— so they have it listed for $399,000. Let's just see what— let me switch this to all. We're going to have to make this a quick phone call. All right, let's zoom in. Now I'll be honest with you, $399,000 right off the bat. Probably way too high. That would be my guess. I could be wrong. So they're going to lean really heavy on, on this. I mean, like, oh my gosh, this property just down the street sold for $515,000. All right, just getting a rough idea of what we're walking into. All right, let's call Nicola, Nicola, however his or her name is pronounced. All right, let's look up the number. Uh, yes, we've got a mobile. Okay, let's call her up. 407-963-1198. Hi, you've reached Nicola with Hughes Homes Realty. Nicola. All right, let's try her again. Hi, you've reached Nicola with Hughes. I'll be honest, I'm not a big fan of triple, triple dialing people. I don't typically do it. I don't necessarily recommend people do it. But sometimes when you're on a time crunch, and you're on camera, sometimes You gotta, you gotta risk it for the biscuit. Man, everybody's out to lunch. Hi, you've reached Nicola with— All right, all right, Nicola. All right, so we didn't, uh, we weren't able to get her on the phone. Um, um, but what I can do is All right, so you're asking a little bit, can you show us some of your filter alerts, like the type of leads you focus on? So really good question. So for Privy, ultimately what you focus on, and again, like if you guys are interested in learning more, I highly recommend sign up for the free masterclass. It's totally free, it doesn't cost you anything. It's not a recorded webinar. We do it live. You know, we'll see you guys there. We'll get to chat with you. But for your filter, everything's going to start from your buyer, right? So I kind of explained a little bit earlier about why the buyer is so important and why that's where we should be starting. Because when it comes for looking for deals, if I don't have a buyer for it, I'm not looking for it. So my buyers, right, the people that I have a relationship with, when I talk to them and I'm asking them, hey, what are you looking for? What's a deal for you? You know, what's, what's your criteria? What do you look for in a deal? That is what's going to dictate my criteria. That's what's going to dictate the filters. If I have somebody looking for land, you know, then I'll add that in. But if I don't have a buyer for land, I'm not going to look at land. I don't care how good of a deal it is, because the reality is I have no clue if it's a deal or not a deal because I don't have a buyer that I can go to and ask about it. So single family, right? Single family, multifamily, pretty standard stuff. Most, most buyers are interested in. So I'd be looking for single family. I'd be looking for multifamily. ARV. Now, if your buyer says they buy at 70%, typically this will be a little bit on the higher end. So the stuff that you will get in your email when this is at 75% will probably be at a bit of a higher price than what your buyer needs when they say 75%. And again, that's where you got to do your homework a little bit, right? And you've got to, got to take a step, take it a step further and look at the comps. But the other thing is I like to leave this just a little bit, you know, a little bit higher, a little bit liberal. Sometimes I'll even have this as high as like 80% or maybe even 85%. And the reason is because if I put this down like, oh man, I only want to see the best stuff, I'm going to put it out like, you know, I want to see stuff at like 45% of ARV, $0.40 on the dollar. Well, you're going to miss out on a lot. And the only stuff you're going to be getting are just really low-priced properties. That nobody's interested in, that are, that are like a teardown, right? Or, or it is going to be a deal, but it's going to have like 100 offers on it. Right. And which, you know, there's ways that, that we do things to where you can still make deals out of those even as a wholesaler. But there's a lot of stuff in between that you're missing where the real gold is. Are the properties like this where it's listed for $399,000 and they're not getting any calls from investors, or the only people calling them are wholesalers that are using 70% of ARV minus repairs. And they're calling this person up and they're saying, oh, I can make you an all-cash offer at, you know, $215,000. Right. And so they're getting hammered with these super low offers. That they're not interested in at all. It's already high priced. So when I call them and I have a conversation with them, they've already been primed by everybody else. This is too high of a price to where a lot of the flippers, a lot of the bigger companies are like, nope, that's way too high priced. Or they just make an offer, a really low offer. But when you're the first person that actually has a real conversation with them on the phone, builds a relationship with that agent and actually takes the time to learn about the situation, what's going on, what's important to them. That's when you can get this. This price will drop from $399 to $310. And then that's where you get your deals. Now, the reason why I say that is I'm speaking that from experience. I did a 30-day challenge where I was using Privy. It was actually this exact price. House was listed for $399. And it was listed for— I think it was on the market for like a little over like, like 30 to 40 days, something like that. And, and I called and I actually had a conversation with the agent. Right. It'd been sitting a little while. They had got hammered with super low offers at like, you know, $210,000, $220,000, $230,000. And it's listed for $399,000. And $399,000 was not even remotely close to a deal. 15-minute conversation with the agent. The agent's like, yeah, if you can put an offer at 310, they'll say like we can move forward with that. And the crazy part was not only did we get the offer signed, right, and get the property under contract, but it was also with the understanding where I told the agent, I was like, hey, look, we can move forward and put an offer and get it signed at 310, but just know that when I walk the property, I am almost certain we are going to have to renegotiate this lower. And I just want to make sure you know that before we even go on paper and move forward. And she's like, yeah, absolutely. So I set the stage to even get it reduced further. So that's where you guys can get these deals because a lot of people— that's why I was like, oh, there's no deals on the MLS. Well, right. They're never priced that way. Not right off the bat. You've got to do a little bit of homework and you've got to find them. Now, what's the difference between this and, you know, someone on here had a question on Privy versus PropStream. I can't find it. Where is it? Where is it? I'm going to find it. I can't find the response. Someone had a— here it is. Privy versus or PropStream. They do two different things. This is utilizing the MLS properties that are listed on market, working with agents. PropStream, Batch Lead, some of the other tools, they're not bad tools. It's just that is for off market. Now, I think Batch actually, they just came out with something new to where they do some stuff with agents, but I have no idea what that looks like. I've done everything with Privy. Now, the thing with Privy is whatever the monthly cost of Privy is, that's all I needed in my business. I don't spend money on skip tracing. I don't spend money on a dialer. I don't need to cold call. I don't need to send out direct mail. And guys, I don't need to spend, you know, 6 to 8 hours a day calling people. The thing that Privy does for me more than anything, one, it saves a ton of money, saves me a ton of money, but it also saves me a ton of time because of the filters and the way I'm able to use everything rather than having to make, you know, hundreds of calls a day on a triple line dialer. I can just look through a couple of emails and make 2 or 3 phone calls a day. And they're really, really hot opportunities that most people are passing up. So, guys, I'm a minute over. Got to end it there for today. Unfortunately, we didn't get to get on the phone with any agents, but I hope you guys— I know we talked a bit about Privy, we talked about markets, we talked about filters. I hope you guys got some value out of today. And next week Hopefully we'll get on the phone with some agents. We'll, we'll make some offers and, and look to get some deals. But guys, until then, I hope, I hope you have amazing weekends. And if you're interested in learning more about what we do, or if you do wholesaling at all, guys, it's a free masterclass. We don't even sell you anything at the end of it. It's totally free. Definitely check it out. It's, it's all value. You'll get a ton out of it. Just go to painlessflipping.com. There should be a link below as well. And until then, guys, until next Friday, have a good one.