Turn Dead Deals Profitable with This Strategy!

What is going on, everybody? It is Nathan Payne, and I got one of my members of the club, the Painless Wholesaling Club, on here. Rita, welcome, Rita. And what we're doing today, Rita, is we're going to show you how to use batch leads to determine if you have some good deals. I know we've been talking a little bit about— you said you have— you're working with a seller right now that's motivated and wants to sell. So we're going to look at this deal, see if it makes sense, and we're going to go from there. All right, Rita, so let's talk about this deal. First of all, before I even talk about the property, like the condition, everything, I'd like to know the situation. What's going on with that? Why is the seller selling?

She just, she's tired of landlording. And so, yeah, she wants to sell them and she asked for my help and I told her I'll help her.

Awesome. Did you market to her? Are you friends with her? Like, how did you find this deal?

Yeah, we're elementary school friends.

Yeah, that is awesome. Well, is it just one property or is it two? Is it—

it's two properties. There are two duplexes in the Pensacola, Florida area.

And are you from that area too?

I am not. I'm in California, but we were raised in California together. But she moved to— she, she now lives in Texas, but she have two properties in Florida.

Well, let's, let's dive right into it. You don't mind sharing? If you want to text or message me, or actually you can just tell me the address and we'll look at it and, you know, kind of dissect and see.

Okay, the first address is 1360 Langley Avenue.

All right, let's see this. 1360 Langley. Yes, in Pensacola. Perfect, we got it. So do you have Batch, Rita?

I, I couldn't— I don't know, I don't have it.

Okay, that's fine. I like to use Batch just to get general information, and then comping, it's good, but I also like to check Zillow. I like to use both. Okay.

Okay.

Let's search this one. Let's see what we got. All right. So here it is. And you're saying it's a duplex, is that right? Mm-hmm. It's active right now. So that means she has it on the market.

Yes.

If you're going to wholesale this, I'm assuming you're trying to find a cash buyer for it. Is that right?

Yes. Okay.

So if you're going to wholesale this, most cash buyers are going to look at this information and they're going to say, hey, this is active. Why would I work with you if I can just go directly to the listing? So you would have to be able to present this offer to someone that's a cash buyer at a lower rate than what it's listed for. And according to this, I think it's listed at— what is it? Did I say $350,000?

That one is at $350,000 right now.

Okay. So tell me, your friend must have told you, hey, like, bottom line, I need to get this. I have it listed for hire. What can you— you know, did she tell you a price that she'd be willing to accept?

She wants the $350,000.

Okay. So she's asking you, your friend's saying, hey, help me find a cash buyer for this deal, at $350,000, and you told her, I'll try. Is that right?

I did.

Okay. So you're going to have a difficult time trying to sell this, find a cash buyer for this deal, just because she's not giving you a discount to give it to someone for them to be motivated enough to take it. Because if I go to my cash buyers list in Pensacola and I say, hey guys, I want to sell you this house that's listed for $355,000 because you need to make some money, right? Or $350,000, they're going to say, look, we've never worked together. There's really no value that you provide by bringing me this deal unless this this is already really, really discounted and such a good deal. But if it's been listed on the market since October 6th and she still doesn't have an offer, I'm assuming that she's just— she hasn't got an offer she likes yet, right?

Right. So I don't think she's gotten any.

Yeah. So this won't work. I'm just letting you know, like, not trying to be rude to her, but yeah, she's asking you to help her sell a home and she's not giving you any benefit or any, like, ammo so you can go out there and get it done. They might as well just call the agent after you talk to them, right? So this one, I would call her and say, hey, look, I'd love to help you sell this, but I'm not going to get any traction on this. I'm not going to be able to get this done for you unless you can give me maybe your bottom line, bottom dollar of what I need to get this done for. And then I can probably find somebody. But it just won't really work if you don't get like a little bit better deal than what it's listed for. So I'm going to look up here on Batch. We're going to see what duplexes have been selling. Let's see, I'm going to take away because you said this is a duplex, right?

Correct.

Okay, so we're going to take away duplex, multifamily dwelling. Okay, so these are some properties that are selling in the area. This one is currently listed at $275,000. Let's see, it's a duplex too. It's—

what is this?

About the same square footage. Is this the same one that she has?

Let's see.

No, this can't be it. This actually is it. This is hers, I think. $275,000. This is hers, right? 81813. No, that's not hers. Is 1360. So look, there's another duplex for sale for $275,000. That's about the same age, same square footage as hers for $275,000. So no wonder no one's making any offers on it. There's another one on the market similar to hers for $275,000. Right.

Right.

So that's not a good comp for her. Why is she listing it for so high? Did she tell you?

No. Well, only thing she said was There's, um, it's move-in ready. There's no work that needs to be done unless the buyer wants to do extra work, but there's nothing that needs to be done.

Yeah. So, you know, just like I said, looking at comparables right now, $275,000 is what I'm seeing on another duplex. And then if you go down here to comps, let's see what else we got. Yeah. So she's got it listed for the higher than anything else that's sold within the last year. Your game plan is to just call her and say, hey, what's the bottom dollar you need? Because $350,000 is not— I can't get it done for you.

Okay, okay.

All right, all right. Is there another one?

Yeah.

Okay, what do you got?

The other one is 101 Eleanor Court. E-L-L-I-N-O-R Court.

All right, all right, all right. Is this— and this is the same one, same, same friend?

Yes.

So this one is currently active as well for $250. She's got it listed right now, right? Okay, so we can see some of the pictures on here. All right, not bad, not bad. Is this one is move-in ready as well?

Yeah, she wants to keep one unit empty for, you know, potential buyers to be able to view it.

Okay, okay. So let's take a look at what's going on around here. So she's got it listed for $230,000 and there's some ones that have sold recently for $220,000, multifamily ones. I'm going to put duplex in here too.

Duplex.

Let's filter. Yeah, so again, I mean, look at all the things that have sold and also what's for sale. So there's not a lot for sale, but, you know, the ones that have sold around hers that are duplexes and multifamilies, I mean, she's way high on it, you know.

Oh, okay. I'll let it go.

So this one is $230,000, and let's see how it compares to hers. Okay, so let's look at the comparables. So this is another duplex. It's a 3-1, 1,500 square feet, bigger lot size, same year. Listed for $230,000 since September. So this one, she's— is her competition. And I know it's probably not as cute, hers looks like a better, but we can look at some of the pictures on it. Okay, not bad condition, right?

Right.

This is some of the competition she's going against is this type of property. So multifamily. Yeah, so she's $20K higher than the property that's right next to it. And The one right next to it has been on there since September, so it hasn't sold either. So your friend is saying, hey, can you help me sell this? And you're basically looking for a cash buyer. And what do cash buyers want, Rita? What are they looking for?

They're looking for a good deal.

They're looking for a good deal. And her deal is not a good deal because not even anyone from the MLS is making offers on it, right? They don't want it. You said one doesn't even have an offer. So whoever told her to put it at that price, maybe the agent just misguided her, or maybe she doesn't— she's not distressed. So she's just like, well, see if I can sell it. You know what you could do? Maybe you could take over those properties and just say, hey, like, you know, maybe I could just take over the payments for you. If she owes them free and clear, you could take it over, like seller finance, and just, you know, maybe you could start using them as rentals. Have you thought about that?

Go ahead.

On terms, maybe you could say, hey, you know, you don't want to rent these out, you're tired. Maybe I can take over for them. You know, I'll buy them on a lease option or I'll buy them on sell her finance from you and then I'll rent them out. And that way you don't have to worry about it and I'll take care of it. You know, maybe she won't really require that much money down or any money down. You can take care of the payments for her if she has a mortgage. Does she have a mortgage on her? Does she own both of these?

I believe she does.

Okay. Well, yeah, you could do subject to and take over her existing mortgage, make the payments and then rent it out because at the moment she's just not going to get the price she wants according to comps from Batch. Okay, well, I hope that was helpful.

That was very helpful. I appreciate it. I know you're doing the whole batch training today, right?

That's right. Yeah, I was going to kind of go in deeper a little bit more into the batch today for the viewers.

On your website, to get to the, to the mind, um, maps and things like that, I'm having a hard time getting there.

So let me show you how to get there real quick. Might as well. So if you join the, uh, the club, which you did, you should have gotten an email that shows you the Painless Wholesaling, uh, club, and it's a course. Okay, and you just have to sign into it. Did you do that?

Oh, that's all I need to do?

Yeah, so you sign into Kajabi, so you get an email that says access the course. As soon as you get access to the course, one of the very first things that you get is Painless Wholesaling Mind Map. It's right here at the very top. So you click on this, and as soon as you click on this link, it will take you to the mind map that I give out for free. Anybody that wants the mind map, obviously it breaks down how to do the whole process step by step with contracts, access to batch leads, links, uh, for discounts. So Rita, do you kind of see that? You, you get inside the Painless Wholesaling Club course and it's just right under Painless Wholesaling Strategy Outline in the map and you click on it. And as you go through this, Rita, all you have to do is go to the onboarding to know when we have our calls, the weekly call schedule, which Today is one of the calls that we do, the mind map. And then there's just some other resources that come along with the course.

Okay.

Again, just check your email that we sent you right after you signed up and you will get an email that says access course. You click it and you get inside this.

And then I click on the Painless Wholesaling Club.

Yeah, Painless Wholesaling Club. And then it takes you to this, this course and then it's under Painless Wholesaling Mind Map. And this is the link that gets you there.

I got it. Yep. I see it now. Okay. All righty then.

I'll go ahead. Okay. Thank you, Rita. All right. So everyone that's watching this, I am going to— by the way, this is the mind map. It breaks down how to do deals step by step on the painless wholesaling method. Like I said, this call is brought to you by Batch Leads, and this— I show you exactly how to use this. You know, you also get discounts with Batch Leads.

Mm-hmm.