Wholesaling Real Estate: Payneless Flipping Secrets

Good morning, good afternoon, good evening, ladies and gentlemen. It is yours truly, Nathan Payne, with Benson Juarez from Privy. Benson, how you doing, brother?

Doing great, doing great. It looks like it's, um, it's just the two of us today. We got the whole thing to ourselves.

Just the two of us. Yeah, just us. Payne is unable to make it today. That's all right, you know, I don't mind that we got the dynamic duo here. Um, for those of you guys watching for the first time, my name is Nathan Valley. I've been wholesaling for about 4, 4 or 5 years. I don't know, I gotta, I gotta figure out the math on that. Um, done a bunch of deals, um, locked up over 100 contracts in a single year. Some of you might have seen the 30-day challenge I did a little while ago to where I picked a totally brand new market where I had no contacts, no resources, nothing. And my goal was to do a deal in 30 days without spending any money. And the only tool I used was my cell phone and Privy, what we're going to be showing you guys today. So that is a little bit about me. Oh, and yes, I did end up doing a deal. Did a $20,000 deal. It's pretty cool. Benson, how about you, man? Who are you?

Pretty impressive. I mean, $20K deal is awesome. Um, well, before we talk more, Benson Juarez, one of the owners, uh, at Privy, um, also an investor. Um, I dabble in a bunch of different little things, wholesaling being one of them. Um, but you know, there's lots of the stuff is the same, right? There's a lot of overlap between the different strategies. You're running comps, you're underwriting the pro— the property. You got to be able to talk to people, generate leads, right? So what's really different about most of these strategies is after it's under contract, what do you do with it? What do you do with it after it's under contract? Wholesaler goes into marketing mode. They take off their acquisition hat and start thinking disposition. And so if you're keeping properties for buy and hold, well, at that point in time, you're taking off your AC hat and you're putting on your you know, get ready for closing hat, right? You're starting to put the loan in process. You're starting to like maybe think about, you know, buying materials, you know, think about maybe, you know, getting insurance and all these other things you're going to need for, for keeping a property. If you're a fix and flipper, very similar, right? You're getting your loan together, you're working with a title company, you're putting all your docs together, then you close, and then you go into construction mode. But the whole process leading up to that point is very, very similar. It's all about finding leads, talking to people, getting the right price, writing the offer, getting it under contract.

That's right. We're actually going to be working on some of that today. So yeah, guys, if you've tuned in before or if you've watched it all, you'll know that we like to actually show you what it looks like in real life, not just talk about it. So that's what we're going to do. I know I've got a, um, an opportunity that we're working that I'd love to kind of jump in and show you guys a little bit about how, like, what are the next steps? You know, okay, I found something to— I'm like, okay, this might be an opportunity, it might not be. You know, there's a motivated seller there. What, what on earth do I do next? So what I'm going to do is I'm going to share my screen. I'm going to show you guys all of it, the whole shebang. So first and foremost, got to get my trusty, trusty Privy tool up here. Guys, honestly, it's one of those tools where like, I don't, I don't know what I'd do with my life if I didn't have it. That is, and I'm not just saying that because, you know, Benson's like a, you know, sometimes I call him a friend. I don't know, you know, it's— I love you. All right, so let me share my screen. Presents. Now, finding buyers, there's— and one of the things, Ben, that you highlighted that I'm really glad you mentioned is more or less that, guys, there's more than one way to skin a cat, right? You know, there's a lot of different strategies, there's a lot of different techniques. Some work better than others, you know, for sure, you know, in some cases, some scenarios. But what you'll find is there's a lot of people that are able to do deals and make money with their own style. You know, they might do it a little bit differently, or they might, you know, have a slightly different strategy, or they might have their own little twist on things. But the thing is, is if you're out here and you're actually working, and you know, you're, you're talking to agents, you're talking to sellers, you're talking to buyers, you know, whatever the case may be, if you're out there putting in the work, you guys are going to find success. So, yep, what is— uh, wrong address.

Let me ask you a question while you're, while you're getting ready here. What do you say to those people who are like, you know, you don't need to worry about buyers until you got a deal? Like, yeah, it'll sell itself, right? And there's a whole school of thought that does that. What's, what's your perspective on that? Should you get buyers in advance, or should you just wait and do deals?

Yeah, it's a really, really good question. Um, so my personal preference is I like to kill two birds with one stone. So what we call painless flipping, we do both at the same time. And I'm going to kind of show exactly what I mean by that with, with this deal right here that, that we're working. But I 100%— the, the simple answer is I want to have a buyer before I have the deal, meaning I want to have a property sold before I get something under contract. There's some exceptions to that rule, but if I don't know— and kind of one of the main reasons is I don't want to be wasting my time, you know. And the thing is, is as a— and this is all through the lens of me being a wholesaler, so that's primarily what I do, you know, wholesaling. That's what I'm looking to do on, on every property. So as a wholesaler For me, when I look at a deal or I talk with a seller or an agent or whoever, the number one question that I'm trying to answer is, who's going to buy this and at what price? And that's really all that I care about. So if I'm talking to an agent or whoever, and you know, guys, if you're looking at deals, what's 99% of what we look at, right? 99% of the deals that we look at and we analyze, it's like, It might be a deal, you know, if the ARV's here and the rehab's only this much, but it might not be a deal if the ARV's only here and the rehab's really this much. And, you know, my philosophy is, is, is, and with Painless Flipping, like, our whole belief is the answer to that question is it depends. Depends on who's going to be buying it, depends on what they're going to be doing to it. You know, I could have one person to where they're looking to buy it you know, fix it up themselves and then sell it. I've got a second guy, he has his own crews that are gonna fix it up and sell it. I've got a third guy to where not only does he have his own crews, but he also does so many flips that he buys materials in bulk at a discount and he can do that same rehab for a fraction of the cost of anybody else. And that's not including, well, if someone's analyzing it as a rental property or they're gonna do a pad split, you know, or they're gonna, you know, live in one of the rooms and rent out the other rooms or, you know, right, you, you catch my drift. That's, that's a great thing with real estate is there's so many things that somebody can do with the property. But as far as when I'm trying to calculate to the penny, hey, what is someone able to pay, I try not to assume the answer. I'd rather find an opportunity to where I know there's somebody like, okay, this is a situation that they need the service that I can provide, right? I have the solution to their problem. And now it's okay, I'm gonna let someone else tell me what price they need to be at and then go from there. Does that kind of make sense a little bit?

Yeah, yeah, I like it. I mean, you know, there's something to be said for relationships, right? Like relationship-based real estate, there's always going to be people involved. And so there's nothing wrong with building relationships over time, but you know, like the painless way is good because you, like you said, you're taking out two birds with one stone. You're saving a bunch of time.

100%. And so this is a perfect example. I'll kind of walk you through what I mean. So this is, um, this is a lead that, that someone kind of brought to us. Um, so, and this is a perfect example. Um, without giving too many details, so it's listed on the market for $200,000. Um, the person knows that the seller is able to accept the price um, at a good amount lower than this. So we'll say $150,000, and they are open to great— to creative options.

The—

now, which is great, right? Okay, $50K less than list price, that's a pretty significant, you know, reduction. And again, guys, this is from having real conversations, right? This is— this is what getting on the phone can— can do for you. So they found an opportunity, they know the seller's motivated. There's some, some details that we don't have all the details yet, but I believe there is a tenant in the property that is in the process of getting evicted or something. I could be wrong on that, but I believe there's something going on with, with a tenant in the property. And so for this, the question is, okay, you know, hey, $150,000, $150,000 cash, is it a deal? I probably not. But the person's like, well, they're open to creative. And so, you know, with taking over mortgage sub-2, okay, well, would somebody be interested if they're pretty much able to buy it at that same price, you know, of $150,000 if it was more or less all on terms? So, and the answer is like, I don't, I don't know, maybe. So the first thing I do— and guys, this is a house I'm not crazy about. So at a quick glance, right, when we look at these pictures, I'm just kind of jumping through it quick, right? Just getting a real quick feel of what's going on with this house at a quick glance. And then here it's, it's showing up as an 8-bed, 4-bath. I, I'm gonna assume that the agent listed it wrong, which does happen, um, fairly often. You know, it's not uncommon by any means. But just at a quick glance, I'm like, uh, this is, you know, this is just going to be an awkward property. I'm not a huge fan of awkward or weird properties. Um, so let's see, the main house has 5 bedrooms and 3 baths while the separate building— oh, okay, it's a separate building. So definitely super weird property. Separate building in the back has 3 bedrooms, 1 bath with separate entrances. Uh, enough space to fit 11 cars in the driveway. That's an interesting, um, note. Uh, no HOA, that's all great, right? And obviously from the pictures, this thing needs a lot of work. So again, creative. I don't know, is it a deal? Is it not a deal? Would somebody be interested? Not sure. They might say it's, it's, ah, no, it's too weird of a property. You you know, it's in too rough of shape. So first thing I do is I go to comps. My personal preference, I like to go to settings, select all, save. Again, this is for me personally just because I like to see everything. What if you guys don't do that? It's, it's probably better for you because Privy is pretty dope in the sense that it already has built-in parameters so that you're looking at the best comps. Again, for me, I just like to see everything, and I'm— because I'm able to, to kind of look and filter through really, really quick just because I've done this a million times. So the other thing I like to do is right off the bat, I like to go down here and within 2 seconds find my buyers. And how do I do that? Boom, you see this number here with a little arrow and then pointing to the bigger number? What that means is somebody bought this house, whatever house this is, they bought it for $93,000 and they sold it for $200,000. And bet it's within an 18-month period, correct?

Yeah, those two sales are within 18 months.

And so when we say within 18 months, it at maximum this happened within 18 months, right? I might click on this and it could have been, you know, they bought it for $93,000 and they sold it for $200,000 within 60 days. But even within 18 months, that's a, that's a huge price difference. Right. And so that's an indicator, right? Within 5 seconds, I know, okay, if somebody bought it for $93,000, they sold it in less than 2 years for $200,000, chances are they did some improvements to the property, right? Meaning, a.k.a., it's a flipper. So what I would do is I click on it and I look at this house. And so I'd go to here and I say, okay, great, awesome. This looks like kind of newish. And then before and after. I freaking love this button. Before and after. Boom. This is what the house looked like. They bought it in March 2023 and he sold it 7 months later. Right. Same year. Right. It looked like this in March. 7 months later looked like this. All right. Again, not rocket science to say how somebody did a ton of work to this property, right? Somebody flipped it. So the next steps of what I do is I then go to property history and I will look— I want to look at who is the buyer in March of 2023, right? Who's the investor that bought it? And I also like to check because sometimes it's— it's— they have it under different names. I want to look at who's the buyer, right? When they bought it in March and who's the seller, right? When, when they sold it should be most of the time it's going to be the same name, right? Same owner. Sometimes they will put it, it'll go from a name to an LLC, or sometimes they'll buy it in an LLC, but under seller it'll have their personal name. Again, we just double-check that. And the reason why we do that is because if you have a hard time finding contact info from one way, you know, you've got a second option. So we've got this name here, right, and Roberto Lopez. So what I do is super fancy, right? I copy this name, I go to truepeoplesearch.com, which is completely free, costs you no money. And the craziest thing about— have you ever used True People Search, Benson?

I have many, many times. I love this.

It is, it is freakishly good, isn't it?

Oh, it is. It's, it's so cool. And some people ask like, well, why would they give away this information for free? And the reason why is because they hope that you're going to use one of their paid services, which is like doing background checks and more in-depth research on people, uh, criminal background checks. You can check other things, a lot of like private investigators. And, um, did you know that skip tracing actually comes from people skipping bail when they, when they get let out of jail and there's a bond put on them? And if they don't go to court, then they've skipped bail, and then a bondsman would try to find them and go and get them and take them back to the jail, and they get paid a fee for that. But they would use skip tracing to try to find these people and track them out.

Well, that's, that's interesting. From, from the criminal world to real estate investor world. How about that journey?

That's—

I did not know that. That's really interesting. Well, I don't know if Carl here, here skipped out on some bail or not, but, um, but if, if he did and I wanted to find a phone number for him, I would use True People Search. So True People Search, and again guys, if there's— if I have a big list, right, if I'm looking to skip, you know, find numbers for like thousands of people, I'm not going to use something like this. This is amazing for sniper approach. Um, so now put in the name and then address. So this is, this is where you kind of got to take a couple things, uh, that come to play. Because it is his personal name on this property, I'm going to use this address. Now, if it was an LLC, again, it'd be a little bit of a different story, which I'm sure we'll find you guys an example in a minute. So I'm going to use Winter Haven, Florida, because his personal name is under this property, or it was. So Winter Haven, Florida. Now this one's a little bit, a little bit cheating. Because I actually, um, just gave him a call earlier this afternoon. And so what I'll do is scroll down, scroll down here and look at all these beautiful phone numbers. Now, I personally, I never call any of the landline numbers. I only call the wireless ones. And typically, you know, the wireless phone number will be the first one listed. Usually 9 times out of 10, that first number will be the appropriate number for them. Um, but there are— have been times to where I'll call the second or third wireless number and then that'll be the one that connects me to them. So, but again, I, I only call the wireless numbers. So I actually called Carl, um, it was maybe like an hour, hour and a half ago, and, you know, called him twice, no pickup. So left them a voicemail, sent them a text. And he calls me back and he's like, hey, what's going on? What can I do for you? Super nice guy. Carl was— yeah, he was so nice. And so, Carl, I'm like, yeah, Carl, I was calling about a property that you flipped a little while ago on 4th Street in Winter Haven. And he like kind of paused for a second. He's like, right, because this sold last year, right? October last year. So he's like, Oh yeah, he's like, yeah, well, what about it? I was like, well, I was calling because I'm currently negotiating, um, a deal right around the corner from that one and was wondering if you'd be interested in another flip in that neighborhood. Now, for him, the answer was no because he actually lives in Jacksonville and like this is just too much of a hike for him. So, so property's down here, Jacksonville is all the way up here. So a bit of a hike. Also love that you guys have this mini map here. Um, so he was a no. I said, great, right? And then I get off the phone. Now we just move on to the next one. So, and again, guys, that, you know, we're kind of really taking the time to walk through this, but when you kind of know how to use this tool, and again, I mean, it's, it's pretty straightforward, right? You look for the arrow. Is it a big difference? Yep. Cool. Then I go to the, you know, I click on it, go to public records again. I'm going to copy the name, I'm going to put it into True People Search, right? And then call the first number, right? And I'm going to call the wireless numbers again, guys. Like, works very, very well.

Um, so can I point out a couple cool things here? The first thing is, is like you're looking in the, in the comp zone of where this property is located for buyers, right? So you're already starting to do checkboxes with how this might be a match for them, right? Because it's right down the street, it's in the same neighborhood. So the likelihood of this meeting their criteria is better than if you just had a random list. Now you selected check, uh, all, right? So it's looking at every property in the area. But if you hadn't done that, then there would be properties that were comps that were flipped, likely, right? So now you're checking more boxes, like, yeah, it's in the same area and it has similar bedrooms, bathrooms, square footage, stories. It matches basically their buy box. So when you look at the, the properties that were flipped that are comps of the house you're trying to disposition, You're like, you're really, like you said, being the sniper. You're being very sniper-ish with locating buyers for that specific house, which is ingenious. Like, it's just, it's crazy to me how easy this can be if you just leverage the data the way it was designed to be used.

Yeah, yeah. I mean, guys, tools make a big difference. And, and the one thing is, and again, that the settings for within half a mile. So why do I do this rather than pulling a list of 10,000 buyers and then sending a text message, hey, I saw you, you know, buy properties in the state of Florida, like, are you still buying? What's your buy box? Right? Doesn't go over that well all the time. This again, when I'm calling Carl, one, I'm addressing him by his first name. I'm calling him on the phone. It's a very personal conversation. I'm calling him about a specific house that I saw, right? And I can make a comment on it like, yeah, the blue looks really nice, right? Again, it's very personal, right? So you're able to be so much more effective with the sniper approach. And again, guys, I, I don't know with kind of what your day-to-day looks like, but if you work a job or if you're not able to put 40, you know, to 60+ hours a week towards wholesaling, and maybe you're trying to do this part-time, or if you just would like to do it in less than 40 hours a week, this is how. It's with being, being more effective, more efficient with your time, you know, using the sniper approach. And that's why, like, during my 30-day challenge— Benson, I don't know if I mentioned this to you— during my 30-day challenge, I only worked on the challenge Monday through Friday when the camera was on. And I turned the camera on, I would go live every morning at like right around 9 o'clock, 9 AM, and I'd go live for about 2, 2 to 3 hours. Now guys, again, 2 to 3 hours Monday through Friday for, for 30 days equals a $20,000 deal. And the crazy thing was I stopped after the 30-day challenge, but I had so many other opportunities and deals on the table just from the work that I'd put in. And, and here's the crazy part, guys. Again, I was streaming it, right? 2 to 3 hours. I was explaining stuff to the camera for like half the time, right? Just kind of like what I'm doing right now with you guys. So I really only had about 60 to 90 minutes of actual focused effort. So 60 to 90 minutes of focused effort, 4 or 5 days a week, you know, to a $20,000 deal with zero marketing expenses. Pretty cool, right? And again, this was the tool that allowed me to do that. Um, did you know that? Have I ever told you about that, Benson?

You described it in a way, but which part should I be surprised about?

The time. I was— I, I even surprised—

Oh, you did? Yeah, you told me that. Yeah, that you were only working on it while you were live.

All right, well, you know what, Benson, you're supposed to pretend like it was the first time I told you.

Well, if you— you shouldn't have asked me then. Uh, that's what's so cool, right? You guys, like, everybody is, is trying to find time to do this business, and a lot of people bail out and don't do it because of lots of reasons. And one of those reasons is, I just don't have enough time. Right now, I will say too, if you are limited on time and you're, you're doing it how, how Nate did with this, you know, shorts, you know, focused periods of time, you want to try to limit your direct-to-seller activities because the direct-to-seller activities, you're on their timeline. Like, yes, they might pick up when you call, but more often than not, they're calling you back. And if they're calling you back when you're busy, when you're at work, or when you're with the family, or when you're doing something, you just missed out on that opportunity to talk to them. And it's all in the follow-up. So you're going to spend the majority of your time calling quote-unquote motivated sellers and trying to touch them anywhere from 10 to 12 times, which you can obviously see like the return on that investment is much, much lower, which is why A lot of people who do off-market stuff really try to get those really high assignment clauses or assignment fees because they have to compensate themselves for the marketing and all the extra time that they spent calling these people. If you do on-market and you're using the Payne approach, the painless wholesaling approach, you can do a wholesale deal for $3,000 and still get a good ROI because you didn't spend much time and very little money doing it.

100%. And guys, that's— at the end of the day, profitability is the number one word you want to focus on. You know, making a million bucks is cool, but it's not that cool when you got to spend, you know, $950,000 in marketing expenses, overhead, and all that stuff, right? Um, so again, profitability. And then also, you know, time, right? How much time and effort did it, did it take? Um, I— and with agents, just to kind of piggyback off your point, I had an agent text me today that it— funny enough, it was an agent I spoke with during my 30-day challenge. I haven't heard from her. She texts me today, hey, are you still buying in this area? I've never had a seller do that, right? But agents, again, they can be worth a lot more than just one deal. Right? Just because, you know, if this one deal doesn't work out, guys, that's fine. It doesn't mean you wasted your time. It means you just got to build another relationship that can still be worth hundreds of thousands of dollars to you at a later point in time. So this right here, I don't know if you guys saw, um, so again, just went down, down our list here, right? Boom, I saw another arrow. Right, bought it for $773,000, sold it for $240,000. Probably a flipper, right? And then we click on it, the pictures, they look really nice, looks new. Again, it's got that before and after button, which we love. Boom, look at that, right? House is like looking, looking like it is, it is rough over here, and then boom, beautiful. So Go to property history. Okay, awesome. Now we get to some fun stuff. Whoa, it's an LLC. What do I do? All right, guys, so here's where the magic comes in. So I will take this LLC and I will— now, because we are in Florida, Florida has what's called Sunbiz.org. Anywhere other than Florida, I would just use OpenCorporates. OpenCorporates is nationwide. And I'll just see, do I have it?

opencorporates.com.

So if you're not in Florida, that's okay. It still works. And so, and again, both, both are totally free. It doesn't cost you anything. So I copy the LLC from here and I'm going to paste it into one of these. If I'm in Florida, I'm using this one. If I'm anywhere else, I'm using opencorporates.com. Search. And again, I'm looking for— and this is important— you get all these results and you're like, oh my gosh, what do I do? It typically, it'll be the first or second one. There's two things I'm looking for. One is the exact spelling. I'm not looking for like one word missing, you know, like if it's missing an of or whatever the case may be. Again, you'll see this one's kind of very unique, but there's other ones to where you'll see a lot of stuff very similar. You're looking for exact spelling and for the status to be active. And so that's the first one here. Click on it. Boom. Okay, all this info. What on earth am I looking at? So this is where we've got to do a little bit of detective work. So I'm going to scroll down here. First thing I see is the registered agent, which is Greg. So Greg is going to be the first person that I try to call. So we got Greg Masters. And then we've also got, um, authorized persons under here, right? And Greg Masters is one of them. So his name is here twice. He's going to be the first person that I try to reach out to. So what I'll do is I will take his name, all right? We're going to go back to True People Search. Gregory A., last name Masters. And for here, I'm not going to put the property address, Winter Haven, because they bought it in an LLC. Instead, what I'm going to do first is I'm going to look at what is the address he has here, and it's Lakeland. So what I'm going to do is I'm going to put in Lakeland, Florida. All right, so we got 2 that pop up. One dude says he's 60. The other one says he's 70. I'm probably going to go for the 60-year-old. All right, I don't know too many guys that are in their 70s flipping houses. So we've got some landlines and some wireless. So let's try some wireless numbers. So we're going to try this first one here. So we got 863-559- 9719. Let's call up— let's call up Greg.

Are you nervous?

I'm shaking in my boots.

Leave a message.

Greg, I don't want to leave a message. Come on, man. Greg? Greg, you there? All right, I don't know if he answered or if it was weird, but we'll try a third time.

Leave a message.

Hey Greg, it's Nathan. I'm sorry, my phone seems to be acting a little funny. Give me a call back when you get the chance. Talk to you soon. Thanks. Bye-bye. That's it. And then I would, I would normally send a text message saying, hey Greg, it's Nathan. Um, are you available for a call? Right. And again, I'm not really saying no mention of the house or anything.

You're just, just really general on the, on the first call.

Yeah, I keep it really simple. Um, I make it sound like, dude, like, you know, when they listen to the voicemail, I want there to be— I'm trying to build curiosity, right? Uh, curiosity and like lower that threshold for them to call me back. So I build the curiosity to where it's like, hey Greg, it's Nathan, right? I'm talking like, like, who is this guy? Like, he's talking like he, he's known me for for 10 years, right? And on top of that, like, hey, yeah, give me a call back when you get a chance. He's got no clue what it's about. The human brain, like, we've got this thing to where we just— we hate open loops. And so he doesn't know who I am, but I'm sounding like I'm a friend that's calling him, and he has no clue what it's about, right? So now if I've got like this rough or like a really professional, hey Greg, this is Nathan Valley, please give me a call when you get it, right? That's— it's like, oh, I don't know if I want to talk to that guy. But like the lighthearted, like, hey, Greg, it's Nathan Payne. You know, it's like, oh, all right. Yeah, he sounds friendly enough. Like, I'll give him a call back. Now, that's on the first time, right? First call. And most of the time I do get a call back from that. Now, the second time I reach out, I might mention, because if I say on that first call, hey, Greg, I was calling about a flip you did, I'm— I personally don't like doing that because now I'm telling him what the agenda of that call is. And he might make the decision on his own of like, ah, I don't want to talk to some guy asking me about a flip I did. Like, I don't care. I don't want him to make that decision. I want to make that decision for myself, right? So I want to get him on the phone so that then he can tell me, oh yeah, no, I'm not interested in buying. Like, I'm not— yeah, I'm not interested in flips, right? But at least now I know so that I can kind of cross him off the list and move on to somebody else, and I'm not wondering what if, right? I get to close that loop. So that's why I personally do that. Now, I also— I don't necessarily stop there, right? Sniper approach. So we call Greg. That's, that's Greg, Greg number 1. We're gonna call Greg number 2. And I will go through all 3 of these. And the reason why is when you've got a deal and you're trying to find buyers, again, There it— within 2 seconds, right, we found there's like 2, 3, 4, 4 properties that are basically saying, hey, 99% chance that we're a flipper. A flipper that has done— already done a deal in the exact neighborhood that I have a deal. There is nobody else that's going to be more qualified for me to have a conversation with than the person that's already done a deal recently in the same neighborhood right next to the property or the opportunity that I have. So it's worth spending the time to go deep. Again, that's why I would rather spend 4 hours trying to get a hold of this one buyer than spend 4 hours on a dialer just cold calling through a list of skip traced, you know, buyers in a state or a county. Again, sniper approach. We don't need to make a million phone calls, we just need to make the 2 or 3 right ones. Or at least that's what's worked for me. Um, now the other thing was it could be a different number too. I'm going to assume that's the right number because it had a voicemail and, you know, he just— he sounded like a Greg. So Uh, let's try this. This Greg. What's that?

He did sound like a Greg.

I know. Yeah, he just had that, that Greg, that Greg vibe to him.

But I think that that 70-year-old Greg is going to be intolerant of the triple dial.

Oh, can you— me? He loves it. Like, right at dinner time, that's his, that's his favorite time for the triple dial.

Now also think about this too. This is just a weird little angle. Old people still have landlines.

Yeah, so what is going on? This is— all right, there we go, we're back. The other thing for— then this is just 100% my personal preference, um, you guys probably should not— you, you should ignore me on this one, but Like, when somebody's that old, honestly, I'd rather just move on to the next deal. I just— like, for me, I've, I've had too many past experiences when I'm chatting with, like, the 80-year-old grandpa or grandma. And Benson, I swear to God, this is true. This is a true story. So one of the most— one of the best tactics you can use in negotiations is just silence. Right? Being able to make a statement or ask a question and then just be silent and waiting for somebody else to fill that space and they answer the question or they keep on talking. It's a really, really powerful tool, but in the beginning it can feel really awkward. I was once talking to this old guy and like, I thought like on paper he sounded like a motivated seller, right? He was saying all the right things and we were getting pretty far in the conversation and we're talking numbers. And so when I made my offer, right, I went silent. I kid you not. I, I counted, like, I counted a timer. I counted the clock. Over 3 and a half minutes of straight silence. I didn't know if the guy fell asleep or if he was still alive. 3 and a half minutes. Until I finally was like, okay, I'm gonna say something. Do you guys know how long 3 and a half minutes of just straight silence on the phone with somebody— neither one of us hung up and I didn't even get the deal. So moral of the story was I've wasted so much time chatting with like really, really old people, um, and then I've also had like one or two circumstances to where it's like they were just so old that it they weren't— it didn't feel responsible trying to make a decision with just them involved. Like, I would want other family members. Um, and again, you, you can do that. Like, I highly encourage— if somebody sounds like they're really old on the phone, guys, like, you be assertive. Take the first step and ask, hey, can we chat with some of your other family members? You know, you want to chat with somebody else, um, and make sure everyone's on the same page and everything's good. Um, and everyone knows what's going on. Um, but yeah, old people, I'm just like, ah man, I wanna, I wanna be quick and snappy, move on to the next thing. All right, let's give, let's give 80-year-old Greg here a call. He's just gonna pick up, he's gonna be like, huh, who, who's this? All right, 3369 That would be— that would be funny though. I'm kind of hoping it happens now.

You reached Greg. I'm unavailable to take your call right now.

Craig, we're calling you right back. He sounds like a spring chicken.

You reached Greg. I'm unavailable to take your call right now. Please leave your name and number and I'll return I'll return your call as soon as possible. At the tone, please record your message.

When you've finished recording, you may hang up or press 1 for more options. Hey Greg, it's Nathan Payne Payne Payne. Give me a call back when you get the chance. Talk to you soon. Thanks. Bye-bye. All right, 2 Gregs, no pickups. So I only called twice. Both of them went directly to voicemail. If you call one time and it goes to voicemail, right? Someone just might have their phone on Do Not Disturb. But if you call again, the way the iPhone works, it's like if you call right back, you know, and you— if you do it quick enough, it'll push the call through and it'll ring. But both times it went straight to voicemail, so his phone might be dead or turned off or whatever the case may be. Um, and then last but not least, let's give Michael— Michael Peoples All right, Benson, do you find, um, do you see other people kind of doing similar, similar strategies with, with finding buyers when using Privy?

Oh yeah, yeah, it's, it's— this is one of the most cost-effective ways of doing it. It's a sniper approach. I mean, it's— I, I'm not a big fan of just building a huge list of quote-unquote buyers that don't know who you are. They've never talked to you. Because even if you got a huge list and you're out there and you're working hard to find a lead and you find a deal, you get under contract and you blast it out there and it's come over from an unknown person that they've never talked to before. They don't know if you know how to run comps. They're already assuming you've overinflated the, the ARV, you've underestimated the, the cost to do the deal. They're tired of talking to people who are just another wholesaler. They want to talk to somebody who they spend time talking to and they've kind of pre-vetted in a sense, right? Like, they want to know that you're a real person and they don't want what you— they don't want you to waste their time. So this is a great approach of like starting to start to build those relationships, build rapport with these people. And get them to know, like, and want to do business with you.

Yeah, yeah. And that's why I love kind of, you know, going back to what we're talking about in the beginning. That's why I like kind of getting, you know, two birds with one stone and doing both at the same time, is because I don't have this deal under contract, right? But my conversation when I'm calling the buyers, I get to say, hey, and the reason why is because we don't know what price this would be a deal at. We're not sure if it's something they would even be interested in. So what I'd rather do is I'd rather just have a conversation with the people that would be buying it. And so now I get to meet new buyers, right? Really high-quality buyers that I know have flipped properties. And my conversation isn't, hi, you know, I saw, uh, you're a cash buyer in the state of Florida. Are you still, you know, buying investment properties? What's your buy box? No. Instead, I get to say, again, really personal phone call, hey, I saw this flip, I saw this, this investment property you bought over here on 123 Main Street. I was calling because I've got another one that I'm negotiating right now that's right around the corner. I was wondering if you'd be interested, right? So within the first 10 seconds of the phone call, he's not just a random person. I'm demonstrating, no, I specifically picked you. I'm reaching out to you. I'm not just some stranger. Like, I saw a flip that you did. That's why I'm reaching out to you. I've got something special just for you. And two, I'm demonstrating value by, hey, I'm not showing up to this empty-handed. I'm giving you a call already with an opportunity that I think would be the perfect fit for you because I already saw that you did a flip in this neighborhood. And so guys, whether they're interested or not interested in that specific deal and the opportunity that you have, how much better do you think that conversation's going to go? When they're like, wow, okay, this person's actually doing the business, they're not wasting my time, they only called me with a specific opportunity that they thought I would be interested in. What are the chances he's going to remember my name, we're going to create a relationship, and I'm going to be able to go back to that person on the next deal? Pretty high.

Yeah.

Um, so a couple things I want to go through real quick, right? So we, so we look up Michael Peoples Right, we put in, uh, Lakeland, which is what he has here. And so I look here and, oh my gosh, there's a bunch of results. What on earth do I do? Well, first thing, Lakeland is the address that popped up, right? So this one's Arcadia, this one's in Michigan, probably not that guy. This one's Lake Wales, this one's Lakeland, and so is this one. Okay, so we've narrowed it down to two, and they both have the same initials, so one of them might be like a junior and a senior. I don't know. Let's start with the 45-year-old guy. All right, we're going to scroll down. Where's, where's all these phone numbers? Did I, did I miss it? Oh, there it is. Boom, phone number. All right, let's call him up. All right, and guys, I, I also would call each one of these buyers back in like an hour. And again, same thing, 2 phone calls, voicemail, text message. And I would do that about 3 times a day for 2, 3 days. If it's an opportunity worth working and I want to find the perfect buyer for it, it is worth spending the 5 minutes to, you know, follow up and call them multiple times. Because again, the chances that these people are the perfect buyer for you are significantly higher than if I'm just, hey, I saw you buy properties in the state of Florida.

Yep. Are you storing these anywhere? Like, are you taking notes and like this, the info? Are you putting them into CRM?

Really good question. Um, for, for right now—

hello?

Hey, Michael.

Yeah.

Hey, Michael, it's Nathan Payne. How's it going?

Good. How are you?

Good, good. I am a bit of a, bit of a strange call. I was calling because I saw a flip that you did a little while ago on 159 Avenue.

I don't know. That's not ringing a bell.

It's— it was in Winter Haven. Well, the reason I was calling— what I mean, you guys did a really nice job on it. Um, but I've actually— I've got a property I'm negotiating right around the corner, and I was wondering if you'd be interested in another flip in that neighborhood.

Uh, maybe you could text me the address and details, and I can— my partner handles most of that stuff, but I'll shoot it to him.

Oh, okay. Yeah, what I'll do is, is it's currently listed, but we know they're willing to accept an offer, um, you know, significantly under what they have it listed for. And also, that sounds like they're potentially open to terms. So doing a creative option, I don't know if that's something you guys would be interested in or if you would prefer to just buy it cash.

Typically, we just buy it.

Okay. Yeah. What I'll do is, is, yeah, I'll send you some of the details so you can take a look at it. And again, if, if for whatever reason— and we're not looking to make $1 million on this deal. Um, this is like, we're not, we're not greedy. Um, we're very much more relationship-based. So if, if $3,000 to $5,000 is what we make, great, you know. Um, it's, it's more so about just kind of if we're able to get the deal done and make sure that you're able to be profitable, and, and so we can go find you some more, right?

Right, sure.

Um, yeah, yeah, yeah. And though the one thing, when I send you the details, all that I ask is If it's not a deal for you, totally understand. Just let me know what price you would need to be at, and then if there's any details as to why, that helps give me ammo so that I can renegotiate it to the price that you do need it at. Because a lot of times I am able to do that for you.

Well, shoot me whatever you can, you know, just so you know, we got a team of people that we employ that search these same deals. So we might— I'm not saying we are, but there's a chance that we're already working the same one, but I'll forward it to the people. And we're relationship people too. We're local. We're trying to, you know, again, develop our flip houses in Polk County. But it, you know, I'll forward the information on and I'll— somebody, if it's not me, it'll be Chad or Greg will get back with you with some feedback. And either, hey, we've already offered this for it, or B, we would offer X for it, or whatever. Or we'll take it, whatever, whatever the term is.

Okay, yeah, it sounds like a plan. Let me text you some info and then we'll go from there.

Thanks, bud. See you.

All right, have a good one. Bye-bye.

That was good, man.

I just want to say, guys, that was the third person. The third person, right? That's why we don't stop at one, we don't stop at two, we get to three, right? We go through all of them. And that's why— and guys, it's not just like, oh yeah, I flip one house a year. No. Does that sound like a buyer that we could probably go back to maybe on the next opportunity we have and the one after that and the one after that? Again, guys, this work, it compounds, right? So it's not like, oh, I spend all this time to get a hold of one person. Yeah, but guys, you get to go back to that person again and again and again and again. All right. He sounds like a baller. Oh, he does. Mike was awesome.

Well, not just that too, but like, he was open to working with you. He didn't bust your balls. He was like open. He understands the game, right? He's like, okay, yeah. And he was even upfront with you too. He's like, you know what, just so you know, like, I might have already seen that deal, but if not and the numbers make sense, then we'll do some business.

And guys, the other thing is, is when we're calling buyers, so I'm never calling them, hey, you know, I've got a listing that's full list price and I haven't spoke to the agent, you know, would you be— no, we're, we're only reaching out when I've got details that I know nobody else has, right? So I know, or at least details that nobody else can see. So I know that we're able to offer a price at a significant difference from what people see on the MLS. I know that we have special details about the motivation, the situation, what they're willing to do on terms, and all of that good stuff. So yeah, they, they might, they might already be working the deal. They might have already just made an offer because most people— and again, this is what kind of separates how, you know, my personal approach, um, with working with agents— a lot of people, they'll, they'll see it when it comes on the market and, and Let's look at this again. This originally was listed for— oh my gosh, this was listed for $450,000 at one point. So this was originally listed for $400,000, $450,000 at one point. It's now listed for $250,000, and we know that they'd be willing to accept an offer $50,000 less than that. So yeah, they might have seen it at $400,000 and they might have either just passed on it because they were like, oh my gosh, that's such an absurd offer, right? And they might even be like, yeah, $200,000 is too low. Or they might have seen it and just write up a letter of intent or write up a written offer of, you know, could be $180,000, could have been, you know, $190,000, whatever the case may be. It could have been for $200,000, but it could have been they submitted the offer, uh, a month or two months or three months ago and it was denied at that point in time, and they just haven't looked at it since. Whatever the case may be, right, there's, there's new information, new details of value that we're bringing to the table when we have this conversation with him, even if he's already seen this property before and if they've already submitted an offer. So that— I'm really glad we got to kind of go through all this so you guys got to see what it looks like when we've got just a straight name. And guys, that's what we— we only looked at 2 2 houses, um, right? Second house, we have a solid buyer, right? And again, I would go through, and here's, here's some more secret sauce, not just through all the solds, right, and calling the arrows, but also the under contracts. Ooh, somebody bought it for $105,000, sold it for $235,000. Bought for $182,000, sold for $255,000. Or that's, that's the price that it's currently listed at. Even actives, now there's none here, but the actives, you can see, oh, somebody bought it for $70,000 and it's currently listed for $250, right? So I can go through all 3 of these tabs to find my buyers. And again, guys, it— how long does it take to, to scroll and look for an arrow, right? We can all do that.

Well, don't forget about the 4th tab.

Exactly, I was gonna, I was gonna get to that. So, and this is 4th tab, right, which is rentals. So the other thing that I would do is again, I love to zoom in on the rentals, and I can look up these people right here. These are people that own rental properties literally right next door to the opportunity that we're working. Again, what are the chances that they would be interested in another rental right next to theirs? Pretty high, right? Again, when we're thinking of, hey, I don't have 40, 50, 60+ hours a week You know, or maybe I do and I just want to be more effective. I don't need to make 100 phone calls. I don't need to make 1,000 phone calls. Just need to make the 2 or 3 right ones. So I hope you guys got a good taste of what Privy's capable of and how I like to use it. Um, and guys, yeah, there's more. Again, one of the things we talked about in the beginning, more than one way to skin a cat. Those are just kind of— that's how I like to do things. Um, but I know there's a ton of people that use it in different ways, and the cool thing is we all make money.

So yeah, there's so many cool nuggets there, man. Like, just seeing you in action was pretty cool. Um, my biggest takeaway from this, this particular session we just did was, is how you do your calls. Like, kind of like this, like the happy-go-lucky nature of the calls, not real super serious or business You're not trying to prove anything on that voicemail. Like, you're just like, hey, it's Nathan, right? And the guy, uh, Michael, was like, oh hey, what's going on? Like, you're like his buddy right, right away, right? And so I, I like that approach. Like, a lot of people are taking this way too seriously. And I was, I was teasing you earlier, I'm like, are you nervous, right? And you're like, no, of course not. But some people do get nervous on these calls. They're like, oh my God, I hope nobody picks up because I don't want to talk to them.

I used to all the time. I used to— guys, I started out with like cold calling and doing wholesaling the traditional way. And oh my God, like, I get it, guys. For like years I'd be making these calls and I'd be super nervous. And, you know, part of that was a strategic issue is because, you know, I was pretending to be a cash buyer and, you know, and making all these promises to sellers or agents or whoever. And really, I had no clue what I was going to be doing with the property or if I'd be able to make the deal work. You know, and then secondly, just, yeah, I was, I was so new to where, man, I was scared to talk to like all these buyers. Like they're professionals, they're experts. Like, what if they know that I'm new and like I haven't done this for— and guys, you know what? It's fine. When again, if there's only one thing when you're talking to anybody, whether it's an agent, a seller, a buyer, if you just keep this one principle in mind, it, it will like change your life. And then principle is genuinely care more about the other person's outcome than they do. And when you do that, it's not about you anymore. It's not about me. It takes all that weight, all that stress, all that anxiety, just takes it off your shoulders because it's not about me anymore. You know, I'm doing this for the other person. And the funny thing is people pick up on that and you'll be able to have much better conversations. You'll be able to get a lot further and you'll be a lot more effective. Well, cool. Benson, I don't— did you, um, I think that's about our time for today. I don't know, any, any other last minute questions, comments, concerns, anything you wanted to share with the audience?

No, I just think it's, it's reps, right? Like, take the reps. Repetition's short for Or that's— rep is short for repetitions, right? So just go through the motions, do the thing. Pretty soon it'll start to all slow down for you. All right, I liken it to, um, I'm a big football fan, right? So when, when that— Bo Nix was just drafted by the Broncos, right? And he came out as like one of the most— like, I don't know, he's like 24 years old, he's got a, you know, a family and all this stuff. And, um, you know, he's coming out and he's pretty experienced, but what happens when, when someone's brand new at something is everything— you have to do everything. So Bo is trying to figure out like what his feet are doing, and he's trying to figure out like he's got the right arm motion, and he's got his quarterbacks coach telling him that he needs to release the ball quicker. And then now he's got to know like where his receivers are at and what the blocking formation in and which way to turn the ball if they're going to hand off. And then he's got to think about the defense. So all this stuff's happening at the same time, and so they're like, they make mistakes, right? They're doing stuff too quickly, they're not thinking through it, it's all happening really quick. And so they're drinking out of a fire hose, literally. What happens the second year, after they've done their reps and they've, they've actually got playing experience, they'll ask a second-year quarterback, well, things looks like things are starting to click out there, what's happening for you? And they're like, things are slowing down. My feet know what they're doing. I've had enough repetitions with my offensive line. I know the blocking formation. I know where my receivers are going to be in the field. I don't have to think about that stuff anymore. Now all I have to worry about is what the defense is doing. And so with repetitions in the business, you do these calls and you analyze the properties a lot of it will start to become subconscious and you won't have to think about it anymore. And then you can just think about what the person on the other end of the phone's doing, what's the defense doing, and how can you maneuver to make that conversation a win-win for both of you.

Couldn't agree more. Yeah, that's for, for me, you know, I'm— it's, it's one thing when it's like, oh, just go and do this, and it's, you know, or, or some people watch like, ah, like, you know, I see Benson or Nate or whoever, you know, I watch these guys do it, ah, why, why can't I replicate that? Guys, I've literally spent thousands and thousands of hours talking to sellers, agents, buyers, you know, it took a lot, a lot of reps, you know. Now there's definitely shortcuts, you know, I didn't even have kind of the scripts and my sales process and whatnot that I go through. I didn't have that when I got started, you know, so you guys can get a little bit of a jump start there. But again, don't Don't kind of— don't beat yourself up if, if, you know, you're, you're not able to, to sound as great as you want to on that first phone call or that second. It's okay. Again, so long as you got principle number one, rule number one: genuinely care more about the other person's outcome than they do. If you go into it with that mentality, guys, you're there to help people, right? And you get to make money at the same time. So have fun with it. And, uh, and yeah, keep making calls. Doing deals. Well guys, thank you so much for tuning in. That wraps up today's episode. Until next time guys, keep crushing it. Guys, get Privy. There should be a link down below. Um, Benson, what's the website if they want to go direct to the website?

Uh, it's privy.pro if they want to go direct to the website, but use the link, use the link here. Um, And you guys probably have a promo code too there, so there's a promo code for a discount. So make sure you use the link and use the promo code that's in the, uh, the show notes.

Yeah, awesome. Well guys, thanks so much. Go check out Privy. Don't waste any time. I promise you it's worth its weight in gold. Until next time, have an awesome week, guys. Take care.

Bye everyone.