Real Estate Riches: Payneless Cash Buyer Secrets

Batch Leads Nation, we are live. What is going on everybody? Today we're going to be talking about some deals I'm doing and how you can do deals too. Guys, I have a deal right now that's a subject to, it's a creative finance, it's like a mixture. And I want to talk to you guys a little bit about how we've been finding cash buyers on with, uh, with the deal and how to use batch leads to find cash buyers. Okay. So if you guys, if this is your first time tuning into me, Nathan Payne, and what I do, I work with cash buyers. I have cash buyers that I've already reached out to even before we got the deal under contract, kind of get an idea where they needed to be. And now we got it under contract. I'll explain the whole process because guys, this happens all the time. You talk to sellers that want too much and you just gotta be real with them. You just don't get it under contract and then just hopefully like you say, hey, I can, I can buy it for this price and then try to renegotiate it down with them down later because you know you can't do it. No, You just open and honest. So this is, this is how we went through this deal. I'm going to explain it all. If you guys are watching this live, hit me up and, uh, you know, tell me where you're watching from, you know, comment, because this is all about networking too. I do this call every week not only to network with Batch Leads Nation but also my people. Mark, uh, comment where you're from, and you know, if I have a deal in that area, maybe I'll hit you up. If you have a deal in my area, we can work together, we can collaborate. That's the That's the point. That's the key to all this is collaboration. Oh, awesome. We got Deborah. What's going on, Deborah from San Diego? Who else we got? And guys, I'm sorry, I'm doing this on StreamYard. So if you comment and I can't see it for some reason, you know, it's probably just because the technology isn't working. We got a question from a Facebook user. Where is Sean Hayes? Guys, I just texted my guy Sean Hayes today. And yesterday I told Sean— I love you, Sean. That's what I said to him this morning. Love you, bro. You don't believe me, it's right here. Love you, bro. Sean Hayes. Let's actually— if anybody doesn't know who Sean Hayes is, uh, he did a lot of the batch, uh, calls with me. He was my acquisitions manager, and, you know, then I went smaller and he's doing, doing something else. I'm calling him right now. Me and Sean have been friends since the third grade, so let's see if, we can get them on here. Looking for buyers. Awesome. You've made the right call, Deborah. Looking for buyers. Chandler, we're going to— I'm calling them. Let's see if we can get them on. Crazy. Deborah's, uh, Deborah's brother's here too in San Diego. I like when— I love when Sean was on the calls. He didn't answer, but you know what we do when we call buyers? Or we call sellers, we call twice because sometimes people on that first call, they don't answer. Now he has my phone number, but still, let's call him twice. My man, my man, my man hit the, uh, the FU button, the button that goes directly to voicemail. Let's see if that, if that was for real. We're good friends, I can call multiple times. Okay, it went through. All right, he'll answer the third time. I call, I call sellers and buyers the third time all the time. Okay, he'll answer. And if not, we'll get him on, we'll get him on next week's call, everybody. So while we're waiting for Sean to answer, I see some, some other people coming in letting us know where they're watching from. We got Robert from DC metropolitan area. DC, I know Brad Chandler, he does, I don't know if you've heard, Brad Chandler does Express Homebuyers. He does the DC area. So good area, guys. Sorry, Sean didn't want to answer. All right, so thanks for tuning in, everybody. Continue to tell us where you're coming from. I'll give you shoutouts where you're watching from. Uh, knock on some doors. That's right, William Ting. I'll freaking shout out to William Ting. If you guys don't know who William is, he is the man. He's awesome. He knows all about subject to, and, uh, you know, go check him out. Check out his website. Go friend request him. He's awesome. Not only that, but speaking of William Tinglen Subject To, we're talking about this one deal that I have. All right. So let's talk about this scenario. We are talking to a seller who listed his house on the MLS 2 years ago. Okay. In 2000— no, sorry. Yeah, 2 years ago, 2022. He tried to sell for like $550,000, then didn't work. He brought it all the way down to $450,000. It didn't work. He's been trying to sell for a while and it's gone through the community of investors in Cedar City for It's been rotated through there, right? A lot of people know about it. When I talked to him, I said, hey, look, you know what you're asking for? Or my team, they said, what you're asking for is just not going to work if it's a cash offer. We need to be able to, you know, if we want to make this work, we're going to do some creative. So he's like, okay, well, what can you do? Now, he still wanted some, you know, a little too much. So instead of me just saying, hey, yeah, I can buy your house for $40,000 down and, you know, I can take over your payment subject to I didn't say any of that. We just said, look, we work with a couple of investors right now. What you're asking for is not something that we can do, but we can run this by our network of investors and see what they're willing to do. That's exactly what we did. So we got it under contract. Now you can do an option to purchase agreement where you just say, hey, I have the option, let me put this out and we have the option to purchase this property if we find someone. Or you could just do a regular real estate purchase contract, which we did, and we just said, we just said, hey, we're going to put this under contract, we're going to send it out to our people so we're protected and we're going to see if anyone can do the terms that you're asking for. And the terms make sense for, you know, several buyers. It's the entry fee. If you guys know about subject to, it's like 20%, it's less than 20% of the purchase price. It's like between 15% and 20% cash that you would need to get into the deal. Now, that's— it's a $400,000 house. So, you know, the entry fee is kind of like $70K. Because he needs $40,000. He needs to cut— he, he says he needs $40,000. He needs to catch it up because it's less. I know, William, you're saying way less than 20%. Sometimes, William, there are buyers in Utah that will go in and they'll bring in 20, uh, they'll bring in that much, uh, to get into a deal. Sometimes, right? This is— this house is rent ready. It's nice, uh, it's cash flowing already because his interest rate is 3.1%, but Sometimes I get it like I'd rather get into a subject-to deal or a creative deal with no money. Okay, but I totally get it. So we send this out and he's like, I need $40,000. I need to catch up because I'm late. I'm behind on my payments. I'm about $16,000 behind and we want to make a fee. And how would we collect the fee? We'd collect it by getting the entry fee, or maybe we can structure something later on, but we're trying to get it upfront. So we've sent this out. And William Tingle, you're absolutely right, brother. Most people are like, dude, I can do 10% down or I can, I can come in with like 13%. So the most people are willing to do is like $50,000, right? $40,000. That's many of the offers that we're getting. They're willing to take over the terms at 3.1%. They're willing to come in, but they don't want to bring in like $76,000, $80,000. Totally understand. So what do we do at this point? Right? We can keep looking for buyers. I've had about— when I— before we put it under contract, I had about 3 or 4 buyers go through and they kind of gave us their number. And we told the guy, hey, this is what people are saying. He's like, no, I need more. So then we're like, okay, well, let's see if anybody else. So that's when we put on Facebook, we blasted out. We've had about 30 people respond and they're all within the 12 to 15% max that they're willing to bring in to get into the deal. So what do we do here? I got batch leads. I can look up the property right now and I can see what cash buyers are buying in that area and I can make calls. And I'm going to show you guys how to do that. I can call and just say, hey, I got a really good property. You can get in, take over the payment. It's a really low mortgage, low interest rate. We can do that. Or we can take all this information and say, hey, Mr. Seller, I'm really sorry, but out of all our network, everybody is saying the most that they can come down with is so-and-so, right? Like with our fee, right? Because we want to make money. Or we can just say the most people are willing to do is $40,000. That doesn't include our fee. We would need to make something for this service for helping you out and see if he's willing to take less than the $40,000 he wants upfront. Plus, you know, we got to catch up his payment plus our fee. So that's the scenario we're in right now. And thanks to Batch Leads, obviously we can dive in a little bit deeper. We know a lot of this information about his mortgage and all that stuff because of Batch Leads. But this is, this is like a real-life scenario, what's going on with a seller who's been holding out for years because he wants too much. Uh, and, you know, but he's motivated and he needs to sell. He keeps on trying to sell. I don't know what's— I don't know this information because I have been negotiating with him. One of my team members has been doing that, but, um, I don't really know the scenario necessarily, like why he needs to sell, like what's the motivation behind getting out of there. But, uh, I am curious if anyone has any questions about this deal, how we structured it, how we signed a real estate purchase contract. We told him we were going to run it by our investors and, um, to see what offers came in because we're not going to buy it. I'm not putting down $80,000 or $60,000 to get into this deal. I would— again, I've done subject-to deals. I own a subject-to, uh, own a property that I got subject to when I first started, and I put down like $4,000. Another one I got in like with no money. So When you got to come in with money, I don't like those deals. I'd rather get in with little to no money, and that's most people. So let's see what— let's see, my man William Tingle. We should bring William Tingle on here one week. Actually, William, if you want, let's— I can have you hop in here because you are the subject-to master. Let's see, bought a house last week worth $225K, gave the seller $10K. Took over the $100K loan at 3.125%. Seller had to move back home to Marshall Island in a hurry. I know about the Marshall Islands. I know a couple of people from there. Paint carpet. We would put it on the market and make $70K after fees and closing costs. All right, William, if you want, William, because I look up to you, you're awesome. And I've learned a lot from you. I'm going to go on Facebook right now and I'm going to send you a link to this if you want to hop on the live. You don't, don't feel like you need to. William, but if you want, it would be an honor to have you on here and you can tell us a little bit about a little subject too. So I just sent you the link again. Feel free to hop in if you'd like. We are live and I know you don't mind that. So he's got a jet. No worries, William. So yeah, William is great. Again, he got into that deal with $10K carpet paint. He's going to put it right back on the market. Now, the thing with us is this house is already in good condition, right? Like, it's— it's— there's not much to do to it. If we got it and we bought it like at the price that he's saying, it's not necessarily like a— you put money into it and then you can relist it because he's kind of asking for around retail on like what he wants. This is more of a cash flow play, equity play. And then you would sell in the future because he doesn't— there's like not a balloon on the mortgage. He doesn't need you to pay it off in a certain amount of time. He just, he's like, yeah, take over for the life of the loan. We don't really care. So let's see what Ed has got to say. What extra strategy are you most into right now? What's your bread and butter? And what have you found so difficult that is not worth your time? This is kind of my bread and butter is like when we talk to sellers or we talk to other wholesalers, We just run— we run the deals by investors that we know and trust. And so we don't have to get the deals under contract. We just say, hey, let me just run it by some of my buyers so that way I don't have to tell them I can pay a specific price and lock it up and have to be like, oh, sorry, I can't buy it. I don't like doing that unless I know it's like a deal that I'm going to buy myself or it's just a no-brainer. I just tell people, so this is a scenario where we're talking to the seller and we're saying, Hey, Mr. Seller, what you're asking for is not something I want to do or I can do, but I have a network. You mind if I run it by them? And then that's what we're doing. That's the bread and butter. That's what I find worth my time. And that's the extra strategy. It's like transparent wholesaling, right? Because not every time someone will call you or you'll call a seller and they'll be like, oh man, if I can get 50% of what it's worth, I'll sell to you. Like, or if I can get $200,000 and you see on Zillow it's worth $350,000, you know, that doesn't happen that much. But if it does and you're like, oh, well, you know, why are you selling? Why are you asking that? Are you like, have you thought about doing any other options? Then they tell you, oh, you know what, my house sucks. I've already had a ton of people who have made offers, have lowballed me. I just want this and I'm done. Then you just lock that thing up and you either buy it or you wholesale and you make a good fee because because you were transparent and you were like, hey, you sure? You sure you want to do that? That's how I operate. But again, like, let me give you an example. We just did a $35,000 deal last week. And what happened was this guy was in notice of default. He was going into foreclosure and he had a real estate agent. And the real estate agent was like, hey, I'm just looking to get him cash offers. His house is pretty bad shape. I'm just looking for cash offers. So I said, hey, do you mind if we just run this by our network of cash buyers? I don't need— like, we didn't talk about signing any contracts. I know she wouldn't have wanted to sign a contract either because she was talking to multiple people. So I said, let me just run my buyers through. So I called a couple of my top buyers. They walked through at like 12:00 on a Friday, had 8 people go, had multiple offers, had offers ranging from $250,000 to $350,000. Then the agent was like, hey, do you have the offers ready? And I said, yeah, I do. Um, and she's like, well, just, we're looking for highest and best. So because I already knew that I had buyers and where they needed to be, my offer was really, really strong compared to all the other wholesalers that they were, that said they could buy it, right? So when all the offers came in, she got one offer from a wholesaler at like $370,000 saying 5-day due diligence period and $100 earnest money, for example. Another one, oh, I'll do Another guy would, for example, $365,000, 7-day due diligence period, $1,000 earnest money. My offer, one, it was $315,000, $50,000 of non-refundable earnest money, 0-day due diligence. So when my offer came in, she saw the other ones and like, hey, that's really high, that's really high. They're probably just trying to lock me up and they have a due diligence period and little to no earnest money. Mine, they're like, this guy's real, he's seen it. He's, he's putting out $50,000 in non-refundable earnest money. And, um, yeah, there's no due diligence period. So these guys are actually going to go through and just do what they say. So was my offer the best? No. But was it real? Because I had people go and people I work with and I trust, they call it painless flipping, just send them through, um, let everyone know what's going on. It worked. So, uh, you don't need to do that strategy, painless flipping, in every scenario, but Ed, when you asked what exit strategies are you most into right now, it's that strategy of just not having to waste my time, just being transparent and letting people know what's going on and getting buyers through. Okay. Saves me time. And, you know, like I said, if it's a freaking home run, just lock that thing up and you take it down, you flip it yourself, or, you know, you're going to not have a hard time wholesaling it. Um, so we got, we got Robert. I would love to flip houses with knowledge and connections. Okay. Any code violations available in batch? So code violations are not available in batch as far as I know, at least in the county, in the city where I am. Uh, you have to get that from the county. You have to get that from specific cities in Utah where I'm at. You have to actually email them. Those lists are pretty good. Consider it like a driving for dollars list. They're just going around saying, hey, this house sucks. This one's got tall grass. Those are decent. It takes some time to get that information, but the harder to get the list, less people are hitting it up, right? Let's see. Any other questions? So let me show you guys how I'm not— I'm going to be— yeah, I'm just going to let you know, we're— I'm not going to reach out to more buyers. We've already had 30 people reach out and they're all between like 10 to 15K. Sorry, 10 to 15% entry fee. That's where they want to be. Right. So I don't think if I keep going and grinding, I'm going to find someone that's willing to do a 20% entry fee and bring $80K. I just don't think it's going to happen. I could be wrong. You can always try. But again, you got to pick what's worth your time, what's not. But I'm going to show you in Batch where I would go and how I would go find some more buyers in that specific area. Okay, so let's— let me pull my TV over. Go ahead, ask any questions while I pull this TV over if you have any. And let me show you how to find deals, buyers, cash buyers with Batch. All right. All right. This is my nifty vibe board. If you guys don't know what a vibe board is, it's just like a giant iPad. It's a giant iPad TV. Okay. All right. I got to turn off my, my nice light so you guys can see it. Somewhat. Okay, so if you got Batch, if you don't have it, message me and I'll give you a link. And you guys can try it out for free for, I don't know the time limit, certain amount of days. But anyway, so you go over here to the left-hand side. And by the way, this is really cool. Like you don't even have to be in wholesaling to use Batch Leads. Like my dad the other day asked me to check out some information. My brother-in-law's like, hey, can you just check some stuff? Like it just has great information out there. In regards to real estate properties and all that stuff. So all you do is you go to— we're just going to pick this address right here. So you just pick the address that you're looking for cash buyers on. Okay, as you guys can see, the address that I'm looking at— I know it might be kind of hard to see, I'm sorry, I need to make— got to make this darker. But you just type in the address you want. Down here at the bottom is— there's a little pencil. Okay. You can— in the pencil, when you click on it, you can draw a box or a circle or anything around your prospect, your property that you have that you're looking for cash buyers. Okay. So I'm going to go here and draw a box around the property that I'm looking for a cash buyer. Okay. So it's loading. It's like, okay, let's process this information. You just go to map quick filters and you see a bunch of good data. You see, okay, 19 absentee owners in this area. If I want to specifically buy a house in this area, in this box, I could call the absentee owners in that area. But what I want to do is go to cash buyers. Okay, so in this little square, there's 14 cash buyers. Okay, that's what it says. It says there's 14 cash buyers. And if I go to on market, I can see cash buyers that purchase properties that have been flipped and that have been listed. Okay. So if I go right here to $599,000, that's what it's asking for, $599,000. I can click on this and I can click on the details and I can see the agent that represented this under MLS. I can see the agent that represented this flipper on this deal or the builder. And I can call that agent. Okay, that's one of the top things I like to do because sometimes I can't get a hold of the buyer, the flipper, because he's, you know, whatever, he's got an LLC and I don't want to do all the work to find out who owns it. I'll just call the real estate agent and it says their agent information right here, listing agent Kenneth Sperry. Okay, I'll call him and say, hey, I have a house right down the street from where it looks like your buyer flipped a property that you represented. Is he looking for any more flips? I'm a wholesaler. Okay. Uh, nope, don't pitter-patter around. Just, I'm a wholesaler. Um, I have a property. Would he be interested? I can wholesale to him. Um, or you can go to Skip Trace and you can skip trace that buyer and it's for 9 cents. You can have that information lickety-split. Okay. So that is how I use Batch to find buyers in specific areas. Now I don't, Again, I don't need to do it for this one that I have because I already got a great idea that I'm not getting to find somebody. I might be able to find somebody if I work like really, really hard and look and keep calling, but I'm like, no, most people are going to be around, you know, $50,000 to $60,000 down. And I just need to talk to the seller and say, hey, look, I know you want $40,000. We've got to renegotiate on that. And my fee, I got to drop it a little bit. Okay. So guys, that's how That's the scenario of the deal I got right now. Hope that was helpful breaking it down. One day we'll get— maybe next week or in the future, we'll get William Tingle on here and he can explain subject-to deals. He's about to make $70K on a deal. Gosh dang, that's a lot. Anyway, if you found this information helpful, it really helps the algorithm if you just like wherever you're watching this. If it's Facebook, YouTube, doesn't matter, just like this. And then it's going to say to the algorithm, Hey, this is good stuff. Also, if you comment, does the same thing. So do me a favor, do all that, and we will see you next week for the Painless Cash Buyer Secrets. Peace out, everybody. Have a good time. Get Batch. If you don't, message me. I'll hook you up with a link. Later.