Deal Finding Friday LIVE - with Nathan Valle!

Good morning, good afternoon, good evening. What's going on, guys? It is Deal Finding Friday. That is right, it is the best time of the week to where I get to hop on here. My name is Nathan Payne and I get to spend a little bit of time with you guys on how I use Privy to find deals. So without further ado, Let's hop right in. So let me share my screen with you guys. And this is, this is exactly how I find deals right now. And guys, oh my gosh, I came from like the world of cold calling, sending out text messages, all that stuff. Oh my goodness, guys, this is a million, million, million times better. Trust me. And if you're cold calling or sending out text messages, probably already know that. All right, so let me make sure you can see my screen. Okay, perfect. So as always, what I'm going to do is first place I start is I go to my email, the email that I use for Privy. Why? Because in Privy, right, I originally I did some searches and I would, I would run a search and then save it. So Step 1 is I'm going to find top buyers in my market, right? That's always, always, always, always step 1. Make sure you've got buyer relationships, not just a buyer's list, not just, you know, an email or just some general info. Now we're talking about key relationships, real, real relationships with top buyers in your market. From there, we're going to know exactly what we're looking for. And based on exactly what they are looking for, That's what I'm going to make my filters right now. Give yourself a little bit of extra room in case something falls outside of, you know, the price is a little bit higher, whatnot, because all those things are negotiable, right? So, but that's where I'm going to save my filters. And then once you save the filters, guys, Privy does all the hard work for you. It will email you every single day. Hey, here's the 3, 4, 5, 6 properties that are exactly what you're looking for.. And then from there, we're just going to take a look and see what are the 1 or 2 that's worth our time to call. So let's click on this newest email. I'm going to start from the bottom. Um, let's take a look at this. Let's see what we got here. So this, this is kind of how the emails come through. So there's a bunch of different properties. All you got to do is click right here. Boom, 1 property. And then it's going to bring up the Privy software with that address. Now, my primary market is Orlando. This is— yeah, it's close enough. It's a little bit on the outskirts, so it's a little bit kind of out of the way, but I've got some buyers that would potentially take a look at it. So what are the things I like right off the bat? So, um, 3 bedrooms, you know, that's a must for me. At least 1,000 square feet, that's also a must for me. Built in 1956, I like that. What do I like here? It's been listed for 91 days, right? I don't even care about the price yet, right? Now let's look at some of these pictures. This is pretty nice, right? Now I wonder if this was flipped. It looks like a flip. So our actual living space, blah, blah, blah. Now what am I looking for? So here I'm looking for something that tells me one or two answers. Either one, it says something like, hey, investor special, hey, investor opportunity, hey, calling all investors., right? I'm looking for any kind of keywords or any type of language that lets me know, hey, hello, we want you to call us, you're the person that we're looking for. And on the flip side, I'm also looking for language that is the opposite of that, right? So anything that's, you know, oh, fully renovated, you know, all new, that's, that's not what I'm looking for. So let's scroll down. I want to look at a before and after. Now, the reason why I wanted to look at before and after was just to see how long has someone owned this property. You know, if this was bought a couple months ago and now it's relisted, that would probably let me know, all right, this is a fix and flip. Now, I'll be honest, I'm not too— I'm not too crazy about it. So Oh, let's look here. So they were under contract. They did have it listed at $250,000, $239,000. Oh man. So they went from $239,000 down to $226,000 to $209,000. Whew, it's a bit of a big drop in a pretty short period of time. So which tells me they want this thing sold. Well, could be worth the call. Let's take a real quick look at comps. Normally, this is something I might pass on just because there's not a whole lot I can do with the property. But the days on market and the significant drop in price, that's, that's kind of telling me there might be other motivation. Now I'm going to get a real, real quick idea. Can I scroll up on my screen? There we go. Of just what's, what's other stuff selling for in this neighborhood. So this is a 3/2 and this sold for $257,000 and this sold back in March All right, let's, let's call it. I think it's worth a phone call. All right, Phil, my man. What's up, Phil? Good to see you. Good to see you, Fred. What's going on, brother? Good to see you guys. All right, let's call this person up. Now, guys, if I've only got limited amount of time with you here on Privy, so that's why Typically, I'm only able to get 1, maybe 2 phone calls in at a time when I'm here with you guys. That's why I spend maybe an extra minute or 2 just saying, and I think this would be a good call or not. If I am in your shoes or if I wasn't streaming live, right, and I was— this is what I was doing every single day full time, I would have made the call. Like, if it was anything like just pretty much based on the 91 days, the big price drop, I would be like, okay, I'll give it a call. Why? Because there is so much you can find out, right? Rather than me spending 15, 20, 30 minutes looking at a property, looking at all this stuff, analyzing everything. Guys, there's a lot you can learn in 5 minutes on the phone with somebody. And so it's way quicker and it's so much easier to find out, you know, just by hopping on the phone. Boom, mobile number. Love it. If this is something that would— we would be a good fit for. All right, 407-408-7628. Natalie.

Hello, you've reached Natalie Aerosmith with NextHome Aerosmith Realty.

I am— Come on, Natalie. Call her again.

Hello, you've reached Natalie Aerosmith with NextHome Aerosmith.

All right, so if she— we're going to call one more time. If she answers, let's see.

Hello, you've reached Natalie Aerosmith with NextHome Aerosmith Realty. I am unavailable at the moment, but if you leave your name, number, and the time you called, I will get back to you as quickly as possible.

Thank you for calling.

At the tone, please record your message. When you finish recording, you may hang up or press 1 for more options. To leave a callback number, press 5.

Hey Natalie, this is Nathan. I was just calling about a listing of yours that I was really interested in. If you could please give me a callback when you get the chance, this is my cell phone. Thanks, talk to you soon. Bye-bye. All right, now one thing, when I call somebody 3 times in a row, typically I just do twice. I'm not huge on 3 times in a row, but If I were to call somebody 3 times in a row and they pick up and they're clearly annoyed or agitated, one of the things you can say right off the bat— or if they pick up, they're like, why are you calling me 3 times? Right off the bat, the way I respond to that is, I am so sorry, I, I don't— like, the call wasn't— it didn't seem like it was going through. I don't know if there's issues on my end, so I just wasn't sure if, if it I don't know if the call wasn't going through, so I am so sorry. I apologize about that. But I was calling about the property that you have listed here on Grice Street. Right. And immediately we're back into the call. So apologize. Oh my gosh, we're so sorry. Wasn't too sure if the call was going through. And then boom, we're moving right into questions about the property. Okay, so Let's— so that one's a no-go for right now. Maybe she'll call back, probably not. Let's try, all right, kiss me. I like kiss me area. Now guys, again, the things that you don't see happen that are really important. If I didn't hear back from her, right, or if she doesn't call me back live, you know, while I'm here with you guys, I would call her probably 2 more times today, right? I'd probably call her at around 1:00 and then I would call her again around like 3, 4:00 or later in the evening. Right. I want to be— if it's a property that I'm really interested in, right, something that I think has a lot of potential of being a deal or has a lot of indicators, or even if I'm not too sure, but it is something I want to contact and find out more about. We want to be assertive. All right, let's take a look at this. Listed 0 days ago. All right, so couple things I like. One being the pictures of the interior. Right? They're just not very good pictures.

Right?

It's not like these are professionally done photos by any means. Location, location, location. In my experience, I have found whenever an agent starts off with that, it means, hey, focus on the location because the house isn't that great. So I don't know if that's true here, but It's just funny how that, that seems to work out. Various restaurants, blah, blah, blah. So new roof, move-in ready. Okay. I'll be honest, probably not the house we're looking for. But let's just take a real quick peek at what are things in the neighborhood selling for. All right. And again, why am I doing this? Because if I take a real quick peek and everything else is selling for, you know, $550,000, $600,000 plus, and ours is listed for $400,000. And we're like, oh, okay, well, all right. And so we take a look. A lot of this stuff now, this is also boom across this, across this road here, right? This could be a totally different neighborhood, right? And then if you look right up here, these are more in like the mid to high 3s. It's within half a mile, but it can be a totally different neighborhood. Let me look. What kind of houses are these? All right, so ours is a 3/2. Yeah, these houses look pretty nice. I mean, I don't know about— is that pink? It looks like pink. Yeah. And also, so I know my market, I know my buyers, I know $400,000 is pretty high. Typically my buyers want to be buying all in for like $300,000 or less. All in meaning purchase price and rehab included. So if the house is, you know, if the rehab is $50,000, it means they'll spend $250,000 buying the house and then $50,000 for the rehab. So this is definitely on a high price point. There's nothing that's screaming motivation to me, right? Says move-in ready. And the other big, big thing is it's 0 days on market. Even if there's a little bit of motivation, what I found, if they just list it, they're like, we want to wait and see anyways.

Typically.

So I'm gonna pass on this one. I'm gonna pass. Good to see you. How are you? I'm doing great, my man. Thank you for asking. All right, so get some winter springs. All right, I like this. I like this price point. I like this. Okay. So just based off these pictures, does it look like they are trying to attract you know, the perfect first-time homebuyer family, right? Just by looking at pictures, I would say probably not. Why? They're showing the things that need to get fixed where there's damage, right? It just— it looks like, hey, this is for an investor, right? Let's see what they— guys, boom, investor special, cash only, right? Love it. 100%. I'm going to call this one just off of that. And how long has this been listed? 1 day. Property has settlement issues. Seller will not make any repairs, needs some TLC and updating. Buyer is responsible for doing their own due diligence, blah, blah, blah. Incomplete offers and offers that do not include all the attachments in the MLS will not be reviewed by the seller. Seller will not make any repairs for like the 3rd time. Their preferred title company, if it's still active. So yeah, seller responds to offers in 24 hours, but please allow up to 72 hours for a response. So this actually seems like it might be a, um, a flat fee listing, and I think I've seen this name before. That would be my guess. Now, one of the things I love about Privy is they show you the last sale. So one, I can see, okay, how long has this person owned it for? So they've owned it, they bought it back in 2014. But I love that it's just so easy to see, boom, right there, hey, what did they pay for it? And then what is it listed for today? That lets me know, hey, how much meat is on the bone? Like, you know, how much money is this person able to make and to where I can still get it at a good price for myself. So let's try to call. I think this is going to be a flat fee listing. I don't think we're going to connect to an actual agent. Um, but we'll try. Was it Hein? All right, we got a mobile number. 924-4402. Hi.

Hey, hi.

Yes. Hey, hi, this is Nathan Payne.

How you doing?

I'm doing good. I, uh, I was calling about a listing I saw here of yours on, uh, on Buttonwood. Yeah, I was calling. I'm really interested in it. I was looking at it as a potential investment opportunity, and I was wondering if you could just tell me a little bit about the property and anything in particular that you think would be important for someone like me to know.

It's quite simple. This is a publicly traded real estate company, the biggest in the US. They bought other hedge funds. When a lease expires and they feel it doesn't meet their criteria, I do their listings here in Central Florida. And, uh, I have no knowledge of the property. I list it with their information and with their pictures. I have no further knowledge than what's in the MLS.

Okay, so, so this is a listing for like a hedge fund?

Yeah, no, it's not a hedge fund anymore. They're publicly traded.

Oh, okay.

On the New York Stock Exchange. Oh God, you can compare it with the hedge funds. Yeah.

Okay, cool. And this is like a— is it like a flat fee listing type of thing?

I don't know why you want to know that, but yes.

Got it. No, it's all right. Just trying to understand a little bit. I apologize. I, um, well, let me ask you, so that's interesting. I normally, I've never really worked with, um, with a seller like that before. You know, I know you have a listing here for $260,000.

I get a lot of phone calls like yours.

Let me put it that way. Yeah. Yeah. And I guess that's kind of why I'm trying to—

like $100,000 on every listing I have.

Yeah.

That's why I put it in the MLS.

Please text, don't call. Text, don't call kind of thing.

Yeah, the people that call me, they try to explain how much work it needs and why they can only offer, uh, two-thirds or half of the list price, right? Okay, they want list price, and the only way you can make your offer stronger is do zero-day inspection.

Got it. No, totally understand. Well, I appreciate you sharing that because, yeah, that was my main thing is I don't want to waste your time. Of course I don't want to to waste mine.

No, you're probably under $200,000.

Well, it really depends. Why is that? What you think it would take in order for it to be a good deal?

$260,000 with zero-day inspection.

I just told you, right? Right. But you said something about under $200,000, right?

No, I kind of predict that you're around $190,000 or $210,000 the way you discussed the property with me based on my experience over the last 24 years with investor realtors and investors.

Got it, got it, got it. Yeah, I mean, I'll be honest. I mean, I agree with you. I understand why you would think that, but no, I do things a lot differently from probably everyone else you've spoken to before.

Okay, do your numbers and send me an offer and I will They have to sell it yet because I'm not the seller.

I'm just a broker. Right. Totally. Totally understand. I just want to make sure, because again, I don't want to waste my time either. It sounds like if I'm not able to get all the way up to $260,000, like I shouldn't even bother. Don't even waste your time kind of thing, right?

No, I wouldn't if I were you. But in the meantime, I'm getting 50 offers anyway from people.

Yeah. And they never accept like an offer, even if it's, if it's just a few thousand dollars under type of thing.

Yeah, then I'll forward it and then you will counter.

Oh, okay. So like they, they'll, they'll counter type of thing?

Yeah, but I mean, I can only forward something if I have a complete order, a complete offer. Like in the MLS, it has to be complete with all the attachments and the conditions are mentioned that we want, we want to close with our title company, we need $5,000 escrow minimum, it cannot be assignable, all that kind of stuff. But that's all you can find on the listing.

Yep. Yeah, yeah. All of that's not a problem. Okay, well, I'll tell you what, let me take a look on my end. If, if I think it's something to where, you know, I'm able to get to an offer that I think might make sense, I'll reach back out. All right.

You have a good one.

Enjoy your weekend.

Okay. You too. Take care. All right. Not what we're looking for, but hey, definitely a learning experience, right? So this is for— if you guys picked up on it, um, basically this was like a hedge fund that, you know, they got traded or whatever the case may be. All I know, the important thing is we're not dealing with a seller. We're not dealing with like your typical listing agent. This is more— it's almost like dealing directly like with an REO or, or, you know, dealing with the bank. It's much more of, hey, this is the box we work in. If that works for you, awesome, submit your offer. If not, that's okay. It's, it's, you know, no sweat off our back if we gotta, you know, leave it here for, you know, 90 days or until next season. Um, that is— so the biggest thing is just it's really hard to, to move the needle with those kind of conversations because even with the agent, he's like, dude, look, I get a million calls all day and people are like, oh, I gotta make an offer at half of that and here's why, blah blah blah. And the reason why we don't want to waste our time talking to him is because just like what he told us, he was like, dude, like, it was like so many people don't understand. He's like, I don't— I literally am just forwarding emails basically, right? Like, for him, he's just that middleman for communication purposes, not even negotiating. And as you can tell, the second he picked up the phone, you could tell like he didn't really care, right? Because he doesn't play a role. It's either, dude, whatever your offer is, just make it. It makes no difference for him. And as far as the company, if they accept it or not, totally up to them. So let's move on. What else we got? Let's look at this one. All right, this is under contract. Hmm, let's see if we can find one that's not under contract. Now you can still call properties that are under contract, especially if you think it's a really good opportunity. Remarkable investment opportunity. Now, one of the reasons being is, guys, things fall out of contract all the time, all the time. So you can be second or third person in line and still get the deal. Requires a ton of care, prime location, blah blah blah. Yeah, but let's see, I want to call something, something active. Ooh, 85 days, I like that. This looks like it was remodeled. So this house, you know, I'm just taking a quick peek at it. It's been listed for a while. But couple things. The— it's listed at $400,000. And I normally don't care too much about price. But I know in order for this to make sense as a rental, I would need it like at least $100,000 less. On top of that, it's— I mean, this thing's in really good condition. There's really not much value I can add to this. Right. Welcome to your dream home. Not really calling all investors. So, guys, I'm not interested. You know, my other thing is I don't want to be kind of shoving an offer in people's face that don't want it. Right? Save yourself the time. Don't waste their time. And look for some— something that you can add value to. Look, look for situations, look for people that you can help. Man, like this one. I'm not even interested in this house. Let's take a look at this one. Why am I not interested in this house? Let's talk about that for a second. So As a wholesaler, yes, we want to look for properties that need work. Is this something that we could add value to? Oh yeah. Yeah, there's, there's a lot of value that, that can be added to this. But at the same time, in my experience, I also, I do not want the worst of the worst. Reason being is, in my experience, these properties, the worst of the worst, yeah, you can get them at a great price. But they are going to be so difficult to sell in my experience. And a lot of my buyers, yes, they want rehabs, they want fix and flips, but like, this is a lot of work. This is a big risk to a flipper. Typically, these aren't the everyday kind of projects that they want. So I want to try to find find what type of property— oh, I like this one just right off the pictures. Yeah, I want to look for something like this, right? Halfway done, 3-bedroom, 1-bath. I love it. Let's see, what do they got here? Cash only, perfect. Block home, I like that. Um, roof was placed 2020. Um, also in the Riverview High District that needs a full rehab. All right, so it needs electrical, air conditioning, septic tank. Um, so all the materials inside will remain. And guys, that's, that's something to keep in mind, right? Like, that depending what materials and stuff they have, that does add up. So it's good to, to find out, hey, what does that really include? I was creating a master suite on the left side of the home, so it would be a 3-bedroom, 2-bath. Okay, cool. Um, their list price is $250,000. Now, this is Tampa. I don't know Tampa as well. Orlando is really more of my market. But let's just take a quick peek. I want to see what are things selling for in this area. All right. So looks like mid-3s sold. Now these— the blue tabs means that these were investor properties, right? Like it was a fix and flip. So let's— so what's our house? Is a 3/1, could be a 3/2. How many square feet? 1,300. And ours was built in 1964. Okay, perfect. So like Let's take a peek at this one that's under contract. Let me go down to previous sale. Okay, this was bought in '94, not what I'm looking for. Let's look at a different one. Ours does not have a garage, I don't think. Let's take a look at this. So 2004, okay, so this isn't any time new, but let's look at what condition is this in. 3, 2, huge. So one of the things is ours doesn't have a garage, kind of, kind of a big deal, but let's take a look. Okay, let's move on over. Not bad, nothing crazy. So just right off the bat, real quick, quick view, you know, $325,000, $350,000-ish could be an ARV. I'm also— I'd probably think more like a $325,000. So they're asking $250,000. Let's call this one up. Let's call— let's call Gino here.

Gino.

Oh my gosh, this house, that would be so much work. All right, Gino. Gino right here, he's looking like he's excited. He's excited for us to give him a call.

All right, Gino.

This is Gino. Hey Gino, this is Nathan. How you doing?

I'm doing all right. How can I help you?

I'm doing good, thanks. I, uh, I was calling about the listing you have here on North Street. I, um, yeah, I'm really interested in it. I'm looking at it as a potential investment opportunity, and, um, I saw some of the details that you have here, um, and I was just wondering if you could tell me maybe a little bit more about it and anything in particular that you think would be important for someone like me to know.

Yeah, so my buyer, uh, the owner purchased it about 3 years ago. As soon as he purchased it, we had to get a septic, uh, quote, and he, uh, that came in at $6,700. But again, 3 years ago, that was for the septic and drain field. Okay. Um, and he put a roof on it immediately, so that's been done since 2020. Okay. The inside, he kind of started gutting. He gutted the entire home, uh, kitchen, everything. The— if you're looking at the front of the house on the left-hand side, that was an old carport that was converted into a bedroom. Okay, so the house sits on a crawl space. It's concrete block, sits on crawl space. That carport was lower than the crawl space because obviously you're driving a car in. That was done in wood around the structure and not concrete. And the owner, actually the current owner raise that floor up to meet the, to meet the subfloor of the crawl space of the other part of the home. So currently what's in there is studded floor, uh, without plywood on it as of yet. They started running the electrical and they actually added in a bathroom to that same side as well. So they started adding in a second bathroom, so the plumbing is started in there but not completed. Okay, that entire side needs walls, whether again, the studs are up, but it needs drywall, electrical, plumbing, all that. Kitchen, same thing.

It's just—

it's a bare, bare room. You would need cabinets, appliances, electrical, plumbing, all that done. The bedrooms on the other side, um, he reconfigured the closets, so some of the walls are taken down there to make the closet the way he wanted it and to be able to add the, um, air conditioner into that area because it was up in the attic. So they, they built an area over there for the air conditioner to be downstairs versus up in the attic. The bathroom on that side, uh, they— you can see in the pictures, they started pulling some of the stuff out of there but then left it alone. The, uh, current owner had a huge life change and gave up on it, and it's been sitting for about 2 and a half years now. He hasn't touched it, he hasn't gone inside of it. Okay, wow. And so we, we finally have been talking to him about it for a while. We finally decided to list it We've got about maybe 14 offers right now, um, of course all cash, um, and we're going to be asking for highest and best by the weekend. It'll probably be due Monday by 10, but I haven't made that official yet.

Okay, got it. Um, perfect. Well, thank you, that was, that was very, very thorough.

I appreciate that. I just want to be as open as I can.

Yeah.

And just so you know, also when I— when people are sending the offers, I'm telling everyone we're asking for price and best. And we're also requiring that before we go to contract with anyone, that we have— that we know for sure that they've walked the home, because we don't want them to secure the home and then, you know, do a walkthrough and say, oh no, we're not interested in that. Right, right, right. So we are requiring that as well.

No, 100%. Um, got it. Okay, well, awesome. You— so you guys already got 14 offers, um, all cash. That's great. Um, well, I guess my first question is, is where— I, I don't know exactly what I'd be able to pay yet, you know, I haven't really crunched numbers or anything on my end, but realistically, where would I need to be at to even be competitive?

Uh, we're, we're at list right now with several of the offers.

Okay, got it. So, and, and got it, so you're at list price, cash offer?

Nothing over at this point, but we're at list before asking price at best.

Okay. Now obviously, you know, getting the most amount of money is, you know, most important to the seller and you. But money aside for a second, is there anything other than price, you know, that would be important?

He's looking to make sure we don't have a $1,000 escrow. We're not going to accept something like that. We're not obviously doing any wholesaling on it, so must not be able to assign. Closing sooner than later is perfect. Most of these are between 2 and 3 weeks. A lot of them, because they're all, you know, the standard investor, they're using their own title company, which is fine. But, you know, if not, we have title handled as well. So other than that, there's really nothing that the seller is interested in other than just being the best offer and then somebody that's going to stay around. You know, we're not going to go to contract with somebody and just have them escape.

Just because. Got it. Um, now they've— now I know you said you're— you guys aren't accepting an offer until somebody's walked it. Um, are the, the offers that are on the table, you know, especially the one that's at list, are those with an inspection period still?

Yeah, they're all given like between— I've seen some at 7, but most of them are between 3 and 5 days.

Okay. Um, If, if I was able to make an offer that had zero days due diligence and say $10,000 down non-refundable, is that something that would be of interest to you guys or make a difference?

It's hard to say. I mean, I, I'm telling him as the offers come through, kind of give him an alert as what's, what's in. Um, you know, he hasn't said, hey, let's just go ahead and grab that yet. So, uh, if you didn't have an inspection period and you've walked the home, I think that would be strong. Um, so, but again, I can't, I can't, you know, answer that for the seller.

Got it, totally understand. Um, okay, so right now it's— it's— so if I'm understanding correctly, you know, it sounds like, um, you got a bunch on the table, you know, he's not necessarily looking to jump at something just yet. You know, ideally it sounds like for him, you know, number one is definitely just the highest price, whether that's with an inspection period or without. You know, that's fine for— I will— I mean, he's been— he's, he said he's had it for like 2 and a half years, so my guess is, you know, if an inspection period fell through after a few days, that's not big deal for him, you know, um, you've obviously got a bunch of other people you could go back to that would be interested in it, right?

That's correct.

Got it, got it. Um, okay, so let me ask you this. So if, if price is the number one thing, if I were able to make an offer, um, let's say that was, you know, I know $250,000 is where you're at right now. If I were, if I were able to make an offer at $255,000 you know, with a reasonable down payment, do you think— is that probably what he would go for first?

It's, it's probably— it's hard to say. It is likely. I mean, if you had no inspection period, that's, you know, again, that kind of takes everything off the table, uh, with escrow due immediately. Um, I think that kind of, you know, locks it in and solidifies something for him. So I think that would be, uh, that would be, you know, a good offer.

Okay. And then one, one other thing I always like to throw in there is, um, When, when I am reaching out, I'm actually calling, you know, unrepresented. Um, so, you know, if it's okay with you, I would love, you know, if we're able to kind of come to an agreement or an offer that's a good fit, I would love for you to be able to represent, um, me. And, and for you, it's, you know, I kind of leave it in, in your shoes. If you'd like to offer any of that as a, as a discount to seller, you're more than welcome to. Otherwise, you know, I think, I think you more than deserve it.

Um, but just like to throw that out there, that's the typical, you know, most, uh, investors are doing that right now. And I would say probably over 14, probably 10 of them are the same way, non-represented, or at least they're represented but not, not in this capacity for, for the sale and trying to use me as both sides, which I, I totally get and understand. Um, you know, one of my follow-up questions to that is, is, well, what's your plan with the um, with the home afterwards if you're going to be relisting it? Um, and, and would you be using yourself as an agent, uh, or, you know, would I also be on the set on that side of it as well? Um, because let me go backwards a little bit. The, the current owner is affiliated with our brokerage. I'll leave it at that.

Got it.

So, so if I go back to them and say, listen, they're going to use us on the flip side of it as well you know, he's going to see, um, some of that as well.

Got it. Okay. Uh, well, no, that's good to know. Um, I'll be out. That's typically not something that I do, but, um, you know, there's, there's— everything's negotiable, you know. We're always able to make exceptions to the rule. Um, so that, that is something that we could definitely look at, um, and, um, potentially add into the offer. And it's, it's— no, I appreciate you letting me know because Yeah, I could see how that, that would, um, be able to help kind of make the offer a bit more enticing for you guys. Yeah. Okay, perfect. Um, and then lastly, Gino, you know, for this house, just kind of your personal opinion, you know, you know the house, you know that neighborhood much better than I do. Why do you— what do you feel is the best, the best kind of game plan, the best fit for this property?

Um, so I can tell you there's comps for sale in the neighborhood, or not even for sale, there's one that's pending closing in 3 days. I spoke directly with the agent, it's closing. Uh, it's a dead-on code of this home, basically, uh, at $250,000. Uh, it's right behind the home, uh, on Hancock. I'm sure you'll see those comps. There's several other comps that make this home somewhere between $350,000 and $365,000. So if you're looking to resell, let's say— and again, I don't— and I don't know the exact number for, uh, for the repair, but let's call it, you know, $30,000 to $50,000. Uh, $50,000 being high, uh, you want it, let's say, $250,000, you're at $300,000. Your holding costs and all of that, the margins aren't there. I mean, they are, but they are in today's market, I should say, because, you know, before, everyone was trying to make $60,000, $70,000 on this one here. You're probably going to make that $40,000 to $50,000, right? So it's— but the margins, that's just where the market is today. As far as a rental, you know, potential— the potential rental out there is really, really good, especially Uh, the clientele in this area is— and, and no offense, it's kind of like that, um, the blue collar, um, you know, truck trailer, you know, owning their own business, maybe landscaping, you know, those type of things. So, so far on the rental side, that would be strong because you would be able to get those type of renters in there that are willing to pay to be able to store their equipment on the property.

Okay.

And so the rental, if you were to hold it and put it as a rental portfolio, you know, I think that would be really strong as well.

Okay. What do you ballpark, what do you think something like this could rent for?

Um, I would have to do some numbers. I didn't look at it that way, but I guarantee at least $2,100, probably up to $2,400 a month. Okay. So, and again, there's a large, like, storage barn in the back that's concrete. The old— the previous owner, I knew him, um, he was a mechanic and, and that was like his workshop. He had like a big lift and everything in there. So, uh, it's, it's got that good potential for, for somebody, um, that again is, you know, owning their own business and kind of doing their own thing.

Got it. Um, okay, so it, it sounds like, you know, you think kind of the best play here would be as a rental for sure.

No, I mean, it just depends. I mean, if you're— some, some investors aren't happy with making, you know, $40,000 or $50,000 on their money, you know, on a $300,000, you know, it just, you know, where you're talking, that's 12% maybe. So, um, but you know, if, if you're looking for something more than that, then holding it would be really a good way. But again, we don't know what the market's going to do in 3 years from now, so.

Right. One of those gambles. And then ballpark, what, um, roughly what do you think it would, it would cost to kind of fix up the home into the condition that it needs to be?

Um, I'm thinking between $40,000 and $50,000, and that includes a septic tank. Okay, so $40,000 to $50,000. Air conditioning. And I'm probably saying it's probably a high number, um, because I know, you know, a lot of times we flip homes for $25,000, $30,000. Um, but, but again, I don't know your style, your, your, you know, the end result of what you're looking for. Yeah, you know, a cheap piece of granite and some just standard cabinets. Um, yeah, I definitely think that you would be $40,000 to $50,000. Okay, it sounds like you're an investor. Um, I represent a lot.

Oh, okay. I was—

man, I was gonna say, I was like, oh man, you should have bought this thing. Yeah, I've never gotten into the the purchase side of it. I own a staging company, which actually I'm doing right now. Oh, we stage homes, and, and that's something on the side. If I do ever list a home for you, I actually include the staging for free. Uh, so let's say we did come to something and you wanted to put on the home for, you know, put it up for sale, then, then my package would include that staging of the home as well. Um, of course, uh, pictures afterwards. But yeah, I, uh, been doing this for a long time. I was the number one agent for several years in a row well. And, uh, my wife and I own a staging company. My son's a realtor, I'm a realtor, my daughter helps with the staging.

So all we talk about is real estate. Oh, that's awesome. Good for you guys. Uh, yeah, that is, is the complete opposite where my family, everyone's, oh my gosh, Nate, can you please stop talking about real estate? Yeah, yeah, I hear you. Awesome. And then, um, the last question I have for you, and I'll let you go, Gino, um, I saw here, um, there was something mentioned a little bit about kind of the materials that are on site. Is it anything that's really worth of note, or just, you know, not—

there's tile. Yeah, the flooring, a lot of the flooring is there, if not all of it. Um, there's, uh, paint, um, a lot of plumbing stuff. So yeah, there's quite a bit of materials already there for you.

If you were to— if you were to throw like just a rough number of the value of what's—

what's their materials, what are you thinking? It's— I'd say probably less than $2,000. The backsplash was there from what I remember seeing the other day. A lot of stuff is there, so let's say $2,000 maybe.

Okay, okay, perfect. Um, and you said you guys are looking to accept an offer Monday?

Yeah, I think we're gonna call for highest and best due by Monday at 10, and then from there, um, we would, you know, we would quickly turn around and vet the buyer to make sure that they've seen the and then, you know, kind of pick something off from there.

Okay, great. Is, um, let me ask this, you know, is there any, is there any chance I could give you a call Monday morning at 9 to see where I would need to be at in order to, to make the best offer possible for you guys?

No, I wouldn't. I'm gonna do that again. I've got probably 8 or 10 offers that are all asking me to represent them and do the same thing you're asking. So, okay, I got to keep the playing field fair, I would say no, I would not be interested in doing that.

Totally understand. No, I, I actually respect that, you know. It makes me happy that you said that, but, uh, you know, at the same time, I figured I'd shoot my shot, right?

No, I know, and I appreciate you asking.

So awesome. Well, Gino, let me take a closer look at my end. Um, if, if I want to have either someone from my team take a look at it, um, I'll reach back out and kind of get that scheduled. Otherwise, let me, let me look at things on my end, and, um, if I think I'm able to kind of get in the ballpark for you guys, I'll reach back out and put in an offer with you.

Sure. And I'd be happy to, to get you or your team into the home, walk it with you guys, discuss what I know, uh, those type of things. Like, you know, totally open to that. And if you're not able to get your team down here and you want to do like a video, um, and again, this could be after a cabinet, um, but you know, if you wanted to do a video of some sort, um, you know, we're down for that as well.

Okay, perfect. All right, great. Well, yeah, let me take a look, and, um, you know, I'll be in touch.

All right, sounds good.

Thank you, Nate. All right, take care. Bye-bye. All right, guys, I, I would bet, I would bet that if you are calling agents and if you're calling on property properties like this, I need fixer-uppers, right? Or where it's a fixer-upper. I bet that that's probably 80% of the conversations you guys are having, right? To where you call them and they're like, yep, it's been listed for 2 days, we're accepting highest and best, uh, we've got, you know, 14 cash offers on the table, and, you know, we're, we're, you know, it's non-assignable, blah blah blah. Right? Somebody, if you guys watch right now, put something in the comments if, if you've come across that. Because for the people I talk to, this is constantly what I hear. Ah, I can't find any deals. Whenever something seems remotely close to a deal, when I talk to the agent or I reach out, it's, man, there's this huge line of all these people and it's like no way I can compete. Now, for the standard wholesaler, yes, you're absolutely right. But, but the way we do things, the way we do things at Investor Thrive, guys, this is, this is perfect. I love when I call and they're like, yeah, we have 14 cash offers on the table, right? I say, hey, where do I need to be at in order to be competitive? He tells me we've got offers at full list. Okay, perfect. I know where the highest offer is. Now, guys, the funny thing is I don't need to beat that offer by 20, 30 grand. If I just beat it by 5 or if I match it and I just create a better offer because I ask more questions, right, that might give me the deal. So, and I could potentially even offer less than 250 and still get the deal because I was able to create an offer not just on price, but because of the other things we were able to put in there, right? Either zero days due diligence, earnest money, you know, larger earnest money deposit. Allowing them to list it on the back end. Now, how on earth, as a wholesaler, how on earth would I do any of this? Guys, this is where the art of what I do myself, Nathan Payne, what we teach, this is what we call doing a pre-flip, which is to where I can— I could still do this deal. In fact, the, the, the fact that they have 14 cash offers on the, on the table makes this very easy for me me to reach out to a buyer that I have a relationship with and say, hey, I've got this deal. It's exactly what you're looking for. It already has 14 cash offers on the table, but I've built really good rapport with the agent, and I think I can be the one to win you the deal. Here's what it would take. It would require $10,000 down non-refundable, zero days due diligence. You can't get in and walk property first. And, and letting them list it on the back end. And it's listed for $250,000. The price to you would be $255,000. Are you interested? They'd say, yeah, send it over. Now, what's one of the things? Why is having so, you know, this huge list of offers already on the table? Why do I like that? Because that is social proof to your buyer. I honestly, I would, you know, before I reach out to my buyers, I would still do homework on my end and learn more about the values and whatnot. But I could just send this right now to a buyer. If I had a buyer in this area and a relationship, I could send it to them just based on the fact that there is 14 other cash offers on the table at list price. And I know exactly what price they're at. And that's social proof, that social pressure. You know, when your buyer hears that, he's like, oh man, okay, it sounds like a really good deal. And my guy could be the one to win me the deal. Now, typically for a fix and flipper or buy and hold landlord, guys, we only need to beat them by a few thousand dollars, right? Or I can be the same price as them and just make my offer a bit better based on the other terms and then charge $5,000 for an assignment fee. Now, for a fix and flipper or landlord, $5,000 typically is not the make or break, right? Of like, oh, $5,000. No, this is an absolute trash deal. Or $5,000 this way. Oh, yeah, it's an amazing deal. No, it's, you know, typically they have a cushion of more than that. So in order for me to kind of work in my fee, it really shouldn't be that difficult. But I would, because I have a relationship with my buyer, I could go to them and we could— I could have him take a look at it. And put an offer on his behalf. And I know exactly how to make my offer better than everybody else's. So I, I hope, I hope that that kind of, um, was able to shed some light on some stuff for you guys and kind of give you some value. But this is what I love about Privy. It's so— this guy— now some agents, the thing that I asked at the end there, now kudos to him. He shouldn't be allowing me to call him on Monday. Hey, before you guys accept an offer, what's your highest?

Right?

And then I would try to match or beat it. But you would be surprised how many agents, if you ask that question, they'd be like, yeah, yeah, give me, give me a call. Um, you know, because they're just trying to get highest and best for their client. So, um, Don't be afraid to ask that question. Look, if they're willing to share that information with me, I am more than willing to, to, to hear it so that I can make an offer that I know is going to win. So, and that's why calling and have— having these conversations, that can be the game changer for you. If I called and just sent him an offer blindly or just texted him an offer, probably not going to get, get anywhere. But because I first and foremost have a relationship with my buyer and I spoke with the agent and got all the details. This is something that we can make money on. Now, another thing he mentioned, hey, you got to walk the property first. Non-assignable, you know, not dealing with wholesaling. Hey, that's fine. We can double close it. Or now for me in Orlando, I had this situation to where a deal that I closed that it was non-assignable, but the closing costs for doing a double close would have been really expensive and our end buyer didn't want to cover that. So that would have ate into our assignment fee. And I was like, man, I don't want to do that. You know, my assignment fee is supposed to be— we're going to be making $20,000 on this deal. But if we had to pay for a double close, it would almost cut that in like half. I'm like, yeah, I don't want that. I want to, I want to make as much as possible. So what did I do? I went to the agent who had been an agent for 20 years, had never done an assignment in her life, and all she knew about assignments was that her broker told her, hey, don't do them, it's bad, right? But I was able to get her to make an addendum so that we could make it assignable. Why? And you could probably do the same thing with Gino. Just not before Monday or before the inspection period. What difference if I put $10,000 down, nonrefundable, zero days due diligence? Why is it they don't want the contract assignable? They don't want a bunch of wholesalers locking it up and then just blasting out to everybody, right? Don't be that guy. You don't need to be. And it doesn't even work well. Now, what I can do is if this is a good deal because I have a relationship with my buyer, Right. We can make the offer. We can go under contract. I made a really, really good enticing offer because my buyer knows it's a deal for him. So we were able to put $10,000 down, nonrefundable, 0 days due diligence, all that good stuff. Or if I had a 3-day inspection period, that's fine. I would still do large earnest money deposit and then wait until after the inspection period was up. And then I would ask the agent, I'd say, hey, now that we're past the inspection period, blah, blah, blah. You've already got $10,000 down, nonrefundable. We've got zero financing contingencies. Obviously, we're going to buy this thing. Is it cool if we make it assignable? Because now the fear, the fear of what they had for being assignable was, hey, they didn't want people shopping this thing around and then canceling contract. He's not going to care at this point. I've got 10 or we've got $10,000 down, nonrefundable. Right. We're past the inspection period or there was no— like we're committed to the deal. So now it's like, hey, can we just make this change so that's easier for us or so that we can do this? And the assignment, it's no longer a worry for them because it's a done deal. And then the thing I would explain to them, I'm like, dude, like, what is it you're worried about? Like the deal falls through, you already have $10K at title. That's literally the best case scenario that could possibly happen for you and the seller. He gets an additional, additional $10 grand in his pocket. Yeah, it's great. Obviously we're going to close, right? But making, making it assignable would allow us to do this, which would just make it easier on us. So I hope that helps you guys out. Guys, another, another great deal finding Friday. I'm, uh, really, really, really, really happy. With the conversation that we were able to have, because I hear a lot about that's kind of what people run into. And, you know, they have a lot of issues. Hey, how do I, you know, how do I make a deal out of this or how do I handle this type of situation? So I hope that provides value for you guys. Until next time, I will see you all Friday next week, Deal Finding Friday. Until then, guys, take care. If you don't already have Privy, sign up. And if you'd like to learn a little bit about how we use Privy for finding deals and do some of the stuff I talked about today, if you go to painlessflipping.com, it should be right at the bottom of the screen. You can see the banner. You just go to painlessflipping.com. We are doing a free masterclass on Thursday to where we show you A to Z how we use Privy, how we're finding deals right now, and how we do all of that. So guys, until then, take care, have an amazing weekend, be safe. I'll see you all next week. Take care, guys.