Nathan Payne walks through a new-build property and interviews Armando, a real-estate agent building a house to flip. DIY construction costs $90/sq ft versus $250/sq ft with a contractor. Nathan shows how to approach strangers, ask the right questions, and uncover deal opportunities by talking about your business.
What's up everybody, welcome back to the channel. Today we want to talk about how to exactly find buyers and how to network with them, and not only just find buyers and network with them, but how to just network with people in general. I'm going to break it down on how I did it and show you an example of how to do it. Before we dive into the video, I want to invite you to my Facebook group. It's called Painless Flipping on Facebook. Just type it in, join, answer the questions, and you're in. Bada bing, bada boom. All you got to do is when you get in, just introduce yourself. We want to get to know you. It's a free community. We have free resources and free masterclass. So if you're looking for a community, for some report, there you go. But let's talk about this video, guys. I was out knocking doors the other day and I saw a house that was being remodeled. So actually, it wasn't even being remodeled, it was being built. So I just went up to it and I was looking around, and one of the guys came out and I said, hey, are you fixing up this house? Because I'm always looking for buyers, and I know if someone's building a house or fixing it up, it's usually a flipper. And I talked to this guy out there named Armando, and Armando's like, yeah, man, I've been an agent for a while. This is my first house. I'm actually building it so I can Airbnb it. And we just got to talking about what he does and what he's looking for. And the cool thing, guys, is like you can find buyers anywhere. I was actually at the mall the other day and found people that were in real estate. So if you just open your mouth and talk to people about what you do, even if you're brand new and you don't really feel confident that you are a whole, like a real estate investor or you wholesale or whatever, just do it. I know it's difficult, but basically you just have to trust in yourself and just take your shot and just say, hey, you know, I see that you're flipping this house. Are you looking for more deals? Do you mind if I get your information? Really, the key to networking is just being confident and just talking to people about what you do. If you talk to people about what you do, I promise you'll get deals. That's just what happens. People will know what you do, they'll find out, and they want to help you succeed, so they'll bring you opportunities. Okay, I know because I've done several deals through networking. But here I want to show you exactly how I networked with Armando, a guy I've never met, and how we just started talking about what he does. So see how I navigate the situation, what questions I ask, and see how I try to provide value to him. Let's dive right into this networking call— or was not— I wouldn't even say a call, this networking experience I had.
Let's go. Armando, cool. So do you work for, uh, for Legacy One?
That's my company.
Awesome. Yeah, man, so kind of, we were just shooting some Content, and we were, uh, I was at a flip earlier, so I mainly look for deals for investors and I teach people how to get started. Tell me, like, kind of, it looks like a brand new build.
Yeah.
What's up, Chase? Nathan, nice to meet you. Nathan, I'm gonna just an investor and I saw him, I was like, hey man, let me ask some questions. We're shooting some stuff.
This one I bought it to do Airbnb.
Okay.
And, uh, I think now I'm just gonna end up selling it as a single family.
Was it like, uh, these other homes here and you just freaking blew it up or what?
So we bought this, tore it down, and then built this house.
Dang, what's the budget on like a new build like this?
Depends if you're doing it yourself.
Yeah. Yeah.
$90 a square foot.
Okay.
If you're doing it with a contractor, we'd say like $250.
Are you, are you doing it yourself?
Yeah.
Yeah. You've been in the game for a while?
My first flip was back in 2019.
Okay. Dang, bro.
So you really leveled up, huh?
Yeah.
I'm always open to whatever makes money.
Challenges.
So dang, it looks good, dude. So far it's going to be that new modern style. It is.
Yeah. We just got stucco today and hopefully stucco this week.
Okay.
And then interior starts Next week on Monday.
So you were talking to me, you said that you don't get too many deals from wholesalers because they always try to, you know, ask for way too much and it's way too tight, right?
Just tight, yeah. Even for doing the work myself, that's usually how I get deals where I can go up a little bit higher on the budget.
Yeah, yeah. What did you do to get this thing?
So this one, I guess people were just looking at it as a remodel and I just looked at it as just a lot.
Okay.
It was a little manufactured home and the guys that are actually doing my installation are the guys that tore it down.
Okay, but what does the teardown cost? Isn't it like— I heard it's usually like $20K to tear something down.
I think $7K is what he charged me.
Wow, that's sweet. Okay, well dude, it's awesome. Do you mind if I like film around here and check it out?
Go ahead, man.
Okay, and I think we could— we should be able to network because I do teach— so I teach people how to get deals, and most of the time we find like we're not trying to make a killing, we're just trying to do volume, right? So sometimes we'll just like try to make a couple K and I ask that for a lot of my students. Do you have like a criteria of what you're looking for? Do you look at everything?
I look at everything. Like I said, Chase found this other lot, man, and it was a seller finance, you know?
What were the terms on it?
6% for 9 months.
6%? How much did you have to bring down?
Our closing was only like $19,000.
$19,000 to bring—
and the new build, how long does that usually take?
Like, uh, really? Yeah, because we just got our engineer plans last week. We're supposed to break ground this weekend.
Yeah, yeah.
We're waiting for the city.
That's awesome. Wow.
It took us 3 weeks to start, to get plans, to finish, to build.
I would think it would take like 6 months to do the—
to like build the house.
It didn't take that long, but after my experience with this one, yeah, yeah, I used the same crew and it was just faster.
And this is your first new build? Yeah. Dude, are you still listing as well like as you do this, or is all your focus on getting this done?
I have buyers and stuff, man, but my main focus is this, you know. I still show homes, I still list homes, but okay, most of my days are spent here because I do a lot of the work.
So if I can bring you lots that are on terms, like with seller finance, that's kind of like what you're looking for at the moment?
Yeah, I mean, seller finance, why not? You know, terms are the same.
Heck yeah, dude, interest rates are crazy right now, so if you can get terms, why not, right?
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