Wholesaling Real Estate using Privy!

What is going on, everybody? Benson, how are you, brother?

Doing fantastic.

What's going on with you, man? Not too much. I know we were just chatting a couple minutes before about a bunch of cool stuff you got going on with Privy. I know today I'm excited because we get to talk a bit about one of my favorite tools, Privy, and how we use it to wholesale. And, uh, man, I'm really excited because one, one question we get all the time is, Nate, I, I'm brand new, I'm starting from scratch, uh, I, I just signed up for Privy, or I'm gonna be signing up with Privy, uh, what, what should I do? Where do I get started? You know, and, and I need to get a deal as quick as possible. So that's what we're going to be going over today, guys. Uh, but first, if you don't know me, uh, my name is Nathan Payne. I've been wholesaling for about 5 years now. Um, done a bunch of deals, bunch of different states, known for locking up, uh, over 100 contracts in a single year. And some of you might have even seen the 30-day challenge I did a little while ago to where I— the only tool I used was Privy, and I did a $20,000 deal in 30 days without spending any money on marketing. And I only worked for 2 to 3 hours each morning, Monday through Friday, and I streamed the whole thing live. Yeah, it was crazy.

That's insane. Did you—

well, because you made such an insane tool here, Benson.

Did you go into it like pretty scared? Like, man, I don't want to get out of this thing with egg on my face.

Here's—

was that a serious concern, bro?

Like, so I don't know if you know this, the craziest part about that whole thing— so I'm, I'm a big fan of like put your money where your mouth is. And if it goes good, great. And if not, like, it's a lesson learned. That 30-day challenge, when I started day 1 using Privy— 1, it was the first, like, day 1 was day 1 of me ever using Privy. I didn't know how it worked. I didn't really know the ins and outs. I knew— I didn't know much about it. The crazier thing on top of that, yeah, I've done a ton of deals, ton of contracts. I've talked to a lot of sellers. Never worked with agents before.

Oh man.

So it was my first time not only using Privy and not knowing anything about it, but I had zero experience working with agents, basically zero experience. So it really was like starting from scratch in a market that I also— I had no contacts, no resource, you know, brand new market, everything. So, and it, you know, obviously it went very well. The crazy thing also is not only did we do, did I do that $20,000 deal, but when I, when the 30-day challenge ended, I just kind of, I didn't really do much more with it. If I just followed up, I had at least like 2 or 3 more deals. Easy. And the agent that I did do the deal with, she hit me up like 2 weeks later and was like, hey, I know I said I never work with these types of houses, but I actually have a seller that I think would be the perfect fit for you. And like silver platter, had a, had a sweet deal.

Awesome. Yeah, those challenges are good because it forces you to get out of your comfort zone and like do things that maybe you wouldn't do normally. Um, I just joined a challenge. It's, it's not a real estate challenge, but it's more of like, it's kind of like 75 Hard, but except for it's 30, and it's, it's a little tweaked a little bit. It's with, um, a friend of mine named Marlon. And, uh, it's like, yeah, so you're, you're committing for a certain period of time, and if you mess up, you have to start over. So it's like work out once a day, read a certain number of pages in a book, um, you have to journal, you have to plan your day out, you have to do, um, a couple other things. There's like 7 things. And those things really, really push you, man. So did you have people doing it with you, or they were just kind of like watching and participated in feedback?

Yeah, I, I love stuff like that because what it does is it, it gives something, something new, something really exciting to help kind of get that initial momentum started. Because that's the hardest part, you know, whether it's going to the gym or wholesaling, it's the getting started, getting that initial moment. That's the hardest part. And so when we're able to find fun ways to not only just you'll make that happen. But to also find a group of people that we can do it with, it really, really helps and makes it fun. Um, man, it's, it's so funny because we were just talking about that before we went live here, about, you know, possibly seeing if people would be interested in something like that, of, you know, potentially doing like a, another Privy Challenge or something like that. Um, hey, if that's something that would interest you guys, let us know in the comments down below. Um, because because yeah, something we're thinking about, but only if kind of people are interested in it and if it'd help you guys out. But Betsy, I know, I want to share real quick about who you are in a little bit and, uh, let the people know.

Yeah, so my name is Benson, one of the owners here at Privy. I've been in the business for over 20 years. Um, actually, like, it's approaching 25 years now. Pretty crazy. God, I'm getting old, man. Um, and, uh, yeah, I just love it, right? So I've been on the technology side, I've been in obviously the real estate side, I'm an agent. So I've got a unique perspective on real estate investing because I see it from all these different angles. And, um, and so it's fun for me to be able to share that with other people because sometimes you can't see the forest through the trees, right? Like when you're right up next to it, like you only sometimes see things as one way. And sometimes that extra perspective is good. And one of the things that I learned really early on when I got into like the technology data angle of real estate investing is that we almost always just look for deals where we live, right? Because it's convenient, right? It's what's comfortable, you know, it's what we know. And there was a methodology that the gurus taught for years. It was like, just go to your own backyard. And unfortunately, I think that probably more people fail in this business because they're in a shitty location than they just didn't do the things they were supposed to do. They didn't— they were hustling, right? They were out there copying, they were making the calls, they were, you know, looking at the leads, and they were doing all that stuff. But because they were in such a crappy area they were never going to get a deal done because it's a comparable-driven business. Yeah, a comparable-driven business. And especially with wholesaling, where ARV is king, if you don't have flipped comps as part of your comp set, then you literally cannot prove after-repair value. And if you can't prove it to yourself, you're never going to know what offer to write. You're not going to be able— if you get under contract, you're not going to be able to prove to a buyer what that thing is worth. And they're certainly not going to be able to prove to their appraiser on the back end of their fix and flip they just spent 4 months on and, you know, $60,000. They're not going to prove to them either. So if you're not very intentional about where you look for deals, you likely will never find one. Or maybe you'll stumble into one, but you can't replicate it. And you might get stuff under contract that you can't sell.

I, uh, I can attest to that because speaking from experience, I've been there and I know what that's like. So this is actually perfect. Let's, um, can we kind of share our screen and, and go over, you know, hey Benson, okay, I hear what you're saying, um, you know, Privy sounds cool, I just signed up, how do I make sure, you know, I do pick a good market, and, you know, kind of where do I go from there?

Yeah, let's do it.

Awesome. All right, let me bring this up. So this is kind of the, the main home screen when someone first comes into Privy.

Yes, it is. Yeah, and this one you don't have to spend a lot of time on, but one of the things that I used when I was looking for a virtual market to start looking for deals in is I also wanted to make sure I had the best data. And one of the things that Privy does differently that you're not going to find in most platforms out there is that we actually go and negotiate direct-to-MLS data contracts. So we're able to get access to the raw data directly from the MLS, same data that agents and appraisers use for comping, you know, analyzing deals and really understanding what's going on in the market. So wherever you see blue on the map is where we have that data.

And then all the places you don't see blue, it's pretty much where you definitely don't want to be doing deals, probably.

Yeah, well, you can, but a lot of the reasons why we haven't gone to some of those rural areas is because it's low investor activity. So we prioritize the MLSs that we launch based off of population and what has high investor activity. And so we do those first. So will we eventually get to, say, like Omaha, Nebraska? Probably. But it wasn't a priority. And so I don't think it should be a priority of someone else there.

Well, I—

even if you're living there, 100%.

Well, I agree. And that, you know, the reason why I brought that up was because, you know, sometimes a lot of people say, oh, you know, I was— I wanted to use Previo, I was thinking of it, but oh, they didn't have my market or the market I wanted to be in. And my answer every single time is, hey, that's a really strong indicator that, that I could almost guarantee you is not a good market for you to be in. Um, you know, and, and so we just get in here. So how, how do we find, uh, there's a lot of blue, a lot of different places to choose from, and I know you guys are always adding new markets to it as well. I know you had mentioned you just added a few more, um, great markets.

Yeah, yeah, we added Columbus, Ohio, uh, New Orleans, um, we added in another market called Triad in North Carolina. We added in another market in South Carolina. So we're always adding in more. We just redid Tucson, which was a market. We've got new data up in Northern California as well. Portland, Oregon is a market that we got because people requested it, but it's, it's a mess up there. Um, so we'll keep adding more and more. Um, where you don't see blue, we still have data. It's just what you're going to find in another platform, you know, like our great competitors like Batch Leads or PropStream or some of the like. We just add that direct to MLS on top of it to improve the quality and the timeliness, get the photos, the remarks, the agent info, stuff that just comes from the MLS. So that's the first thing.

Yeah, I was gonna say, how do we go from here to, okay, you know, I want to pick a market, you know, what's kind of some of the things we can, we can look at on screen here?

Yeah, I would take note of the areas that have the blue, and then I would click this button over here on the left that says Fix and Flip, and that's going to plot on the map, uh, all of the, the flips that happened in the last 12 months. And so we actually have an algorithm that goes and picks those out. There's no, like, data that's in public record or in the MLS that tells us definitively that a property was flipped, but we can infer that it is based off of some certain data points.

Yeah, I think it's kind of like, you know, if somebody bought and sold a house within a short, you know, within a certain short time period, and then if it also— if they bought it at this price and they sold it all the way up here, you know, along with kind of other things. But some of that stuff, you know, guys, there's not too many people that buy a house for $100,000 and they sell it 3 months later for $400,000. You know, chances are it's probably going to be an investor.

Yeah, it is. And it's— I think it's, it's right, probably like 95% of the time. But Um, so this will help you really understand visually where the hot areas are at, not some spreadsheet or a graph or, you know, some sort of, um, you know, data that's not going to be actionable or even understanding. Because if right now we're talking about people who are just starting, like, they're not going to know what to do with that. And even I don't. I look at sometimes spreadsheets and stuff and I'm like, what does this even mean?

I don't know. Yeah, and job growth and migration and all that stuff. And so yeah, I get it, but I'm just, I'm just trying to wholesale some deals and make some money, you know, which is telling me where to go.

Yep. So you can see that there are lots of areas here that have high investor activity. So wherever you see these large circles with the blue are those markets, right? And then one of the very first things people ask me is like, you know what, like, I don't know anybody in, say, like Detroit, right? I don't know what a deal is. Like, I can't look at properties with my own two eyes. So they— that makes people feel uncomfortable. But like, Detroit has a bunch of activity, right? So let's say we drill down here and pretty quickly we'll be able to see like which neighborhoods are the ones we want to target. Because it isn't just Detroit proper, right? It's not the whole thing. Like there's parts out here that have some investor activity, but it's certainly not as good as like right in here where that 158 is. So you want to concentrate on these high investor activity areas because again, remember we're thinking about ARVs. I got to think, okay, if I can find a property that needs some work, right, deferred maintenance, or maybe there's some distressed seller situation, I need to be— I need that property to be in an area where there's flips so that those flips have a chance of being part of my comp set. So when we think about comps, comps are usually within a half a mile of where the subject is. So again, we're looking at very specific neighborhoods. So if we drill down here on this 158, once we get close enough This breaks up into the individual properties that are in that cluster, and then we can start to do some market research on like, what is a deal in these neighborhoods, right? So every one of these properties matches our criteria of what a flip is, and then we can just look at one. So if I click this property right here, this one sold recently, and I click that property card, and this report is called a comparative market analysis. So As an agent, if I wanted to run comps on a property or analyze a property, it could take me all day on, in some cases, to just do one. But we have an algorithm that does it for you. So we pull in all the details here, takes the bedrooms, bathrooms, square footage, stories, property type, property style, and then it builds— it pulls all the comps. So we hit a bunch of sales in here that aren't relevant, that we shouldn't be using as justification of what value is for our house. Now, this one's flipped, right? So, but it still comps it out. So we scroll down below there, it shows us the before and after. So this property was purchased in July, sold 8/24, and here's what the property looked like before they fixed it up. So, you know, obviously the flooring was pretty beat up. It's got some cool built-ins. Some cool features. Look at this old-ass kitchen.

Wow, man, it looks great. I can't believe they didn't keep it, you know?

Yeah, so there's like—

this is probably one of my, my favorite features, uh, there, man. There's so many features that are my favorite, but this one particular, because, you know, using everything else, it's— we're kind of just taking our best guess of like, okay, they bought it for this price, they sold it for this, okay, I think it might be an investor, or, oh, they bought it, you know, at this time period and they sold it, you know, oh, in only 3 or 4 months. Okay. It's probably an investor. But this, you can see the actual like, now this is what it looked like. This is what it looks like now. You know, you don't have to assume that somebody fixed up that kitchen. I can see it right there. 100%. This is a fix and flip. And the reason why I personally love that so much is because I am always— the— especially with my 30-day challenge, the only reason I was able to do a deal in with such little amount of time that I was investing on a daily basis Monday through Friday, right? Again, guys, I said 2 to 3 hours is what I went live, but I was explaining stuff for the camera for like half of that. I really only had 60 to 90 minutes of actual focused effort, and the only reason why that was even possible is because little features and, and tools like this allows me to say, okay, rather than me trying to call through 100 properties that sold, you know, that were bought and sold within a 6-month period, I can just find the 2 or 3 to where, no, I know 100% this is a rehabber, this is a fix and flip flipper. I'm going to spend a little bit extra time to make sure I get a hold of the person that I 100% know is the, the rehabber in my neighborhood with my deal.

Absolutely. The, the market research outside of a software like Privy would be a nightmare for the average person. But when we put all this information into one area, we can, we can figure out a few things that are key. Number one, what is a deal, right? Is it 60% of the ARV? Is it 75? Is it lower than that? Now, no one property is going to define that definitively for us. So we go— I tell people to go back and look at like the last 10 to 20 closed deals and then start to figure out like an average or median. The other thing you can learn is certain markets, it's really difficult to find properties from the MLS. And so in those markets, it isn't great to have an on-market 100% strategy. Other areas, we— you want— if It's, it's more difficult to find those. You have to go off market. So you're gonna spend more of your time doing off market activities. You're going direct to seller or working with agents and looking for pocket listings, right? So that, that helps you figure out your strategy. The next thing is you can figure out who the agents are, who are the agents that have distressed properties. So Adrian Stewart is the one that had this one. Maybe she's got a good pipeline of of properties that need to work. Maybe she doesn't want to put them on the MLS. Maybe she'd give you a pocket listing. Or if you're looking for an agent who understands working with investors directly, then you got James Parker over here on the right who represented this fix and flipper. That was one of the first things I did when I first started doing deals in St. Louis, is I wanted to find an investor-friendly agent who understood what I was trying to do, and I found Nika, and it was through the same process here.

And what's, what's great about that is, is, guys, you in just a few minutes, you get to hit like 3 birds with 1 stone. So, right, so we 100% know this is a rehabber, right? But okay, as a wholesaler, like, we got to find deals and we got to find people to sell those deals to. Well, you're doing both here because the listing agent that listed this property— again, guys, the amount of people in a market that have their realtor's license It like, there's a lot of people that get their license, but the amount of people that are actually, you know, doing work and getting listings is so much smaller. So how do I know if I just pull a list of agents or whatnot in an area? Well, do I need to reach out to 5,000 agents, or do I just need to figure out which of the 50 are the ones that I really need to talk to? And again, you know, I'm really big on I'd rather be effective then, you know, efficient's great, but effective first and foremost. And so for this, I get to— I, I know 100% this is an agent who's active, who's putting in work, who's getting listings. And two, I know it's, it's not just any agent with listings. It's an agent that works with the exact type of sellers that I'm looking to work with. So what are the chances she's gonna have a few sellers to where they're either looking to list it right now, or, you know, she's they're, they're going to be selling it down the pipeline. The chances of that agent already having clients lined up that are the perfect fit for you are going to be really high. And then same thing with the agent that represented the buyer. I do this— this is the other reason why, um, I love working with the agents is because sometimes it can be a little difficult to find that direct contact number to the buyer, you know, especially if, if it's a bigger company or they have a lot of LLCs or whatever. But the nice thing is sometimes even if I do get a hold of that buyer, I'll still call the agent because even if that agent goes, oh yeah, sorry, he's actually not interested anymore, he just did one, um, he's doing another flip right now, you know, he's not going to be looking for anything for another 6 months. A lot of times it goes, but I do have 5 or 6 other guys that are great buyers that I work with and I can show it to them. And so again, it's, it's in one property you're doing like 10 different things. You know, you're checking off all these. You're not just getting a hold of one buyer. You're getting a hold of that agent's network of buyers. You're also getting a hold of that, that listing agent's network of sellers, you know, and leads that she has coming down the pipeline. And then also with figuring out, okay, great. But, you know, it's still sometimes can be difficult to figure out ARV and what should I offer and I don't know rehab. Well, guys, if you've got an idea of the lead you're working, what kind of condition it's in, well, I don't need to know much about rehab, but I can look at the number and see he bought it for $75,000. He sold it for $199,000. Now, maybe he got this as a better deal than normal, right? Or maybe not. I don't know. But I at least have a ballpark idea of Right? If I'm looking at a house and I'm like, oh, the seller said they'd take a discount of $170,000, like, ah, I don't know, it might be a deal, it might not. If I look at this, I know, okay, I'm not even going to waste my time calling this buyer because he's probably going to laugh me off the phone if I were to be like, hey, I can get you a deal for $170,000. He's going to be like, kid, I just paid $75,000. But like, what are you doing? Right? So get so many things in just 2 minutes of information.

Yep. So absolutely.

So we pick— I get kind of bringing it full circle. So, right, we look on the map, you know, as far as, hey, what kind of market do we want to be in? Real simple, look for the bubbles with the big numbers, right? And then zoom in from there, right? And then you could even get more niche and more specific as far as picking out, hey, what neighborhoods, you know, not just what market, but what neighborhoods within that market, um, are the best to be looking for. So we've, we've got a good idea of how to find, you know, hey, what market, what area do we want to be working? So now I'm at a point, okay, I want to start, you know, finding opportunities and getting deals on the table. Where, where can we go from there? And one of the things— well, we kind of half answered it, right? I could even just look at these sold investor properties and just call the listing agents that represented the sellers. That actually could be a great place to start. Oh yeah, that's one option. But what if we wanted to, to do something else and maybe find, you know, look at active properties? Is there something we could do for that?

Oh, for sure. Like, I would do like split your day up, right? Block it out. Mornings are for agents, afternoons are for, you know, writing offers, right? Um, but so they got this one from the MLS. This is like for your challenge, like zero marketing. Right, zero marketing, they got a deal at 38%. Like, that's exciting. As a wholesaler, all I'd have to do is just write an offer on this property before everybody else starts going to it, get under contract, and then now I can assign it to somebody. And you can assign and wholesale an on-market deal the exact same way you can an off-market deal, uh, it's just you don't have to spend the marketing dollars, right? And by the way, before we move on from this, I wanted to show you in the in the records. Like this right here, here's the buyer, right? So that FTC LLC, it's probably one of those ones you said that have the layers of insulation. Um, this, this is probably one where you want to call the agent because this is going to be difficult to locate contact info. But like I said before as well, you don't have to— you're not going to figure it out what a deal is with just one property. So you're going to go back and look at the last 10 to 20, that's going to really help you figure out where that percentage of ARV is. So, you know, like, okay, if I can find a property, if I can just get it lower than, say, 58% of the ARV, then that's going to be a deal. And that's going to be— I'm going to be able to competitively offer on a property because that's what I've been watching other buyers in that market do. Here's another on market for 46%. Right, so already we're seeing that there's a lot of on-market deals. That's good for me. I, I love when I don't have to spend marketing dollars. And then Privy actually has an algorithm that will help you find on-market properties that match your criteria. This one was off-market because it says public records there. So let's flip the switch on this. Now, before we, we look for active deals If I did decide that going direct to seller was going to be the strategy I wanted to implement, then what I would do is come up here to the filter and then come to scroll down here, and then I can export lists of off-market distressed seller situations. So pre-foreclosures, vacancies, tired landlords, zombie properties, absentee owners. With our system, we allow you to download up to 10,000 leads per month that you can start to market to. Mailers, or, um, you know, start calling them, knock on doors, uh, flyers. It's up to you. We don't have those marketing functions in Privy. That's not what we're trying to focus on. But we'll help you find that very laser-focused list because you're going to pull that list from here, right? You want to be in this area because this is where your comps are at. You're going to use these comparables that are on the screen to prove after-repair value. And that's gonna prove it for you so you know what offer to write. And also knowing that you're gonna have these same comps to use to validate the after-repair value for your end buyer. Um, if I was gonna go drive for dollars, I would drive— this is where I would drive. And if I found something, I could just type the address right in here, the search bar. We actually have a mobile version of Privy and you can just type it right in there. And then Privy will pull comps, build a comparative market analysis, tell you if the house is listed, if it's in foreclosure, all of the public and county record data. And then you can decide if you want to make a move on it or not. But this is really powerful for those one-off properties on leads you have coming in from other sources, either via your marketing efforts, agents sending you stuff, wholesalers, you know, JV properties. But make sure you— to be really dialed in on, on making sure your time is, is spent well, don't, don't analyze a bunch of properties from all over the US. Like, make sure you're, you're laser focused in that where those leads are coming in are coming from neighborhoods like this.

I love that. If we did want to do stuff on market, right, with getting started, so what, what would that look like from here? So we've got a whole lot of options to where we can do a bunch of off-market stuff, which is really cool because I don't— I honestly, I, I never really think of, of that too much. You know, I, I, you know, I love that because you can do both. You know, you don't have to limit yourself to just one.

If, if we didn't have the Privy tool, that's when you really have to focus because you're so spread out time-wise. But like you said earlier, we accomplished like 10 different things by looking at one CMA of one property. Like, now I've got extra time. Well, shoot, maybe I'll pull a list of foreclosures.

So we've got our market, we've looked at hot neighborhoods, we know how to look at comps and find, hey, what are buyers buying at, what, what percentage of ARV are they paying, um, and how to find some buyers. If we wanted to— hey, how could I find, uh, and source a deal right now? We talked about how we can do that direct to seller. If we wanted to do that with agents, with on-market listings How could, how could we do that in this market that we just picked?

This is— you said your favorite feature was the before and after. I love that too, but this is my favorite feature because basically what this does is it takes all of these closed properties, is that uses those as a model for what a successful deal looks like, and then it reverse engineers it. So click find similar active deals. Privy's going in, it's pulling comps on all the properties that are in this area, and it uses our standard filter, which we set to 75% of ARV or lower. That'll work in Denver and Seattle, a bunch of other markets. But just from those few properties we saw, we're going to be lower than that. We need larger margins. So I'm going to lower this to say 50%. And let's say also too, we got a hold of that buyer who did that first flip, and maybe they tell us, you know what, I want to be under a certain price and I want a certain number of bedrooms, bathrooms, square footage. We can start to build our buy box or the buy box of our buyers right in the system, save that search, and then Privy will monitor that specific area and look for properties that match that specific deal criteria all automatically behind the scenes. And it will alert you up to every hour if something new is found so you don't have to be in the system all day. Most of us probably have full jobs, 9-to-5ers, and we just can't be in there all day, right? But if we get a phone notification that Privy just found you a deal, like, shoot, you just log in real quick, check out that deal, and then write an offer. You don't have to be doing this full-time.

This was another really big, big piece of my 30-day challenge was I actually got it from, I believe he made a 3-video series kind of showing how he sets it up. His name's, um, uh, I think I'm pronouncing it correctly, John Gallon.

Yeah.

And he kind of showed, um, how he sets up his filters. And so that was kind of what I'd used in my 30-day challenge, was I, I had implemented kind of what he showed as how he set up the filters. And basically the reason I was able to be so effective is because I didn't have to look at, you know, and scroll through all, you know, 400 listings that, that pop up in my market. Or, or however many there are. What I did was I was able to set up the filters, and so each morning it was so simple. I set up the filters to— and again, guys, this, it's not like Zillow or realtor.com when it's like, oh, send me anything in this price point with these many beds and these many baths. It, it has that extra investor element, right? Yes, I can set how many beds and baths and what price point but I can also say, hey, send it to me if it's within this percentage of ARV. And so again, the reason I was able to be so effective in just 60 to 90 minutes a day is because I set up my filters. And then my, my daily routine was I'd turn the camera on. First thing I'd do is I'd go to my email and I'd say, ah, what goodies did Privy give me today? And I set it up so that it would email me on a daily basis. And so every morning I would open my email and Privy would show me, hey, here's the 5 or 6 properties in your market that are exactly what you're looking for. And then from there, I would kind of look at those 5 or 6. And typically, guys, I didn't have to make 10,000 phone calls. I didn't have to sit on a dialer 8 to 10 hours a day. I would literally make 2 to 3 phone calls. All right. You don't need to make 100 phone calls. You don't need to make 500 phone calls a day. You just need to make the one or two right ones. And, uh, and so, you know, I think, I think I have to correct my statement. I think now that you mention it, that that's actually my favorite feature. No, you can't change so much time.

You can't change your mind, dude. It's too late. Like, you already stated that and it's out in the universe. Don't be a follower.

All right, so, so it brings up, um, so you're able to set up the filters so that it, it emails you. And guys, you could set it up, you know, hey, once something been listed for a certain number of days, you know, within a certain percentage of ARV. If they drop the— there's so many cool things you can do. And so I know I, I can tell a little bit about my process. So once we get to this part, this is where I, I love— you set up the filters, right? And you get the properties getting sent to you that, hey, these are the deals, right? Not, hey, here's 1,000 properties that meet what you're looking for, but no, here's the 5 or 6 deals on list on the MLS today that you can jump on.

And from there, data though too, right? We didn't just, right, like randomly pick these things. Like, let's say there was 100 new properties that came on the market tomorrow in, in this Greater Michigan, uh, Detroit area. Well, if there's 100 new properties, maybe only 5 of them are good deals, right? So there's 95 of those that the only way you would know if they weren't deals is by comping them out. So I have to comp out not 100 properties to eliminate 95 to find the 5 that are. Talk about inefficient, right? Talk about not effective. Like, that is a horrible time to spend— a horrible way to spend your time. But this is, is comparing the price of the house to the price of the comps. And because we chose an area that has high investor activity, 2 of the comps that we have part of our comp set are flipped. So remember earlier I said if you don't have flipped comps, you can't prove ARV? Well, we have two of them that were flipped. So this one was purchased for $13K, sold for $114K. This was purchased for $55K, sold for $128K. Well, shoot, these guys bought this one for $10,000 higher than we can buy ours for. This is a deal right now. Obviously depends on what's going on inside the house. You always have to take that into consideration. But the way we initially identify a potential opportunity is what percentage of the ARV is it at? And then we do our due more due diligence after that to make sure the numbers work. But the percentage of ARV for this house is between 35% and 40% at asking price. That's without even going in and negotiating a lower price.

Yeah, and that's, that's what I love to do. And so at this point, guys, what I do is, so I, I typically Um, Vince, you mind scrolling up a little bit and showing kind of where it shows the listing agent for the property?

Well, yeah, well, right down here at the bottom. It's always at the bottom.

Oh, right, right, right.

So you don't lose it.

So, so what I do is, uh, what's the name there? It's a little hard for me to see. Is it?

Yeah, we showed the top two. It's, it's Al Abudallah.

So what I do, guys, is when I say, okay, hey, I've got an opportunity here I want to call on this thing. So I copy that whole line. I'll copy it. I highlight it, copy it, paste it into Google, and then, you know, click on the first link and it'll have— and here's the key. Don't call the office number. Don't call the brokerage number. Yeah. Every single agent, if you click on usually the first link, if not, click on like one or two others, they'll have a spot to where, hey, here's their mobile number, their cell phone number. And so I'll call up Al and he picks up the phone and I say, hey, Al, I was calling about a listing you have on Binder Street. And he's like, yeah, what about it? And then I say, yeah, well, I was calling because I'm interested in it. I'm looking at it as a potential investment opportunity. And I was wondering if you could tell me a little bit about the property and anything that you think would be important for someone like me to know. Really simple, broad question, right? And then you just let them chat. And then, so that's been listed there for what, one day? Is it— am I seeing that correctly?

One day.

That's the other thing, guys. It— yeah, clear and easy. So it's been listed for one day, so there's a chance there might be a lot of investors jumping on it. And if it's listed, there's one or two things, right? Either it's just been listed or it's been listed for a while. If it's just been listed At some point in the conversation, I say, yeah, man, I— you're probably getting a ton of people jumping on your phone, probably melting off the hook. And guys, that's whether I think it's a good deal or not even close to. Either way, I'm going to say that. And 9 times out of 10, he's like, oh yeah, I've just been getting calls nonstop. I was like— and then I'll say, yeah, man, you're probably getting calls from investors offering like, you know, $5,000, $10,000, whatever that number is, make it really low. And then a lot of times the response is, well, not— you know, we've gotten one offer for for $35,000 and whatnot, and, and we're looking to accept highest and best Friday, but we'd really like to get closer to list price. But thing is, now you just pulled out some really valuable information. One, you've been able to identify, ah, people are making offers on this, you know, so this is a deal, this is worth me spending more time on and negotiating. But two, I can now go from here, and like we had seen down below, there's two investors that have already done deals in this neighborhood? What are the— again, I don't need a list of 10,000 cash buyers. What are the chances one of those two guys would be the buyer on this deal or want this, this exact deal? The chances are really high. And when we think of, well, how can I beat out my other wholesalers? Well, the easiest way is to be able to just pay more than everybody else. But Nate, how do I do that? Real estate and just kind of business in general, the higher the risk, the lower someone's able to pay. The lower the risk, the more money someone's able to pay. When we think about real estate, real estate is hyper-local, right? And when we think about, okay, who's going to be able to pay the most, it's the person that sees it as the lowest risk. And who's going to have the least amount of risk? The guys that already flip, or gals, that already did a fix and flip in this neighborhood with a property right in this price range. They know the ins and outs of the neighborhoods. They know what to expect. They know, you know, what they do need to, to, to keep an eye out for and what they don't. So chances of those, those two buyers being able to offer more than all your competition are significantly higher. And guys, again, I'm not making 10,000 phone calls. We figured out with a tool like Privy in just a couple minutes. I mean, we've been chatting for about 30, 40 minutes and we've been explaining most of this stuff. But guys, like, when you know the tool, in 2 minutes I can bring this property up, find Al's number, and then also find the number for those 2 buyers. And then after I get off the phone with Al, I'm going to call those 2 buyers and say, hey, I saw the flip you did on What, that one flipper he flipped it on? What's that? Is that Westford? Wexford Street?

Yeah, this guy did.

So I'd say, hey, Mr., Mr. Buyer, I saw a flip you did on Wexford Street. He's like, yeah, what about it? I'm like, yeah, you did a really good job. He's like, cool, what do you want? I'm like, I'm calling because I saw this flip that you did and I'm currently negotiating one right around the corner that I think you might really be— that you might really like. And he's gonna be like, great, tell me about it. And then from there, I'm just gonna ask him, yeah, here's all the details, what do you think you'd be able to pay? Now I'm kind of already gonna know a good chunk of that answer from being— because I already saw what he paid for this one, what he sold it for, and all that good stuff. But now I've got a really hot opportunity, a hot lead. I've got the highest buyers for it. And then I can also get them to tell me what they're able to pay before I even get it under contract. And so now when I'm working with that agent, either one, I can get it under contract, right, with, with a contract that is assignable. But if the agent has an issue with that, great. Well, I can get the buyer to tell me what exactly he's able to pay first. And I say, hey, sure, no problem, let's do zero days due diligence. And I'll have the buyer look at the property first. And then once he tells me his number, I can make an offer and I can use the buyer's nonrefundable earnest money deposit to me. I use that as the, the EMD payment for the agent, and we don't even need to make it assignable, right? Or what I'll say is, hey, no problem, we can make it assignable after the inspection period. So there's, there's a number of ways you can do it. That's how I personally— that's what worked really well for me. And it's kind of, you know, a little bit of what we call painless flipping. But again, man, love this, love this freaking tool, man. It saves, saves so much time, so much time, and you can get a lot, lot done with it. Yeah, love it.

Oh, thank you, man. I mean, it's, it's a lifesaver. I've done so many deals doing the exact same strategy I just showed you. Um, and it— there's a lot of really good tools out there, right? There's good CRMs for organizing, and there's good, you know, tools for, you know, for comping or maybe list building. But I don't know of another system that will just pluck out really good deals for you that you can write offers on right there and then. Do you? Yeah, I don't think it exists. And that for me is really what we should be thinking about, is like, who cares where they come from? All we want to know is that we can find a property where the numbers make sense, right? And this is doing that for you. It's literally going in and finding the properties that have the margins that you tell it you need for it to be a deal in that specific market, and you just write the offer.

Love it. The other thing I forgot to mention is, is the other great thing is, is you've got that for finding the deals. And then with selling the deals, guys, it's one thing when you call a buyer and you cold call them and you're like, hey, uh, I saw you're one of the people on my list of 10,000 cash buyers that I saw bought properties in the state of Michigan. What's your buy criteria? What's your buy box? Guys, buyers hate that. If you've done that, you already know how buyers feel about that. When I call Mr. or Ms. Cash Buyer, hey, I'm calling because I saw the flip you did on Wexford Street. Very personal. And yes, I'm calling because I have one right around the corner from this that I think you'd be really interested in. And then when they say, hey, what's the address? Yeah, it's— I'm still negotiating it. It's right on Binder Street. The funny thing, every single time they're like, huh, that really is right around the corner. They're surprised because they're so used to people just making something up. And you're not calling empty-handed, and it's a personal conversation, right? You're not wasting their time. And so the ability for you to have a real conversation with that buyer, to actually build rapport and create a relationship, with somebody that you can make a lot of money with, it's much, much, much easier. So yeah, a lot of great things, um, man. Bunch of stuff we went over today, man. We talked that— we kind of covered a ton, you know. Just getting started, how do I go from scratch? We went over how to pick a market. It's as simple as look for the blue bubbles and find the big numbers, right? From there, how do I— how do I look at, at comp? You know, what's, what's a deal in this market? Right, how do I look at comps? How do I know what investors are paying? Then from there, okay, great, I've got a really good idea as far as what neighborhood, what neighborhoods investors are looking to buy in. I've also got a really good idea as far as what prices they're paying, you know. Then we went over, okay, cool, how do we, how do we find a deal in this, in this area now for these buyers? And then we went over, hey, what does that conversation look like? And then how do I find the buyer for that deal? And Guys, you, you've got, you've got the roadmap, right? That's, that's it. So that's anything that we missed or anything that, that you want to add to that at all, Benson?

No, I think we basically covered the majority. There's other bells and whistles in there that we didn't cover that— oh yeah, you know, we got tons of live training, um, that you can attend if you're, if you're scared about technology or you're not sure that you have what it takes to do it. Like just come to the live trainings. They're free. Um, you know, you just set up your Privy account. I think that you guys have a promo code that we can, we can give out. We'll put links in the show notes as well so you guys can get in and start off with, um, with low risk. But I promise you, if you just do what I showed you and you do that a few times a week, you're going to be writing a considerable amount of deals, uh, offers. And you're going to find deals, you're going to write offers, and then you can get stuff under contract. And then while you're doing that, you're building a buyer's list. You will close deals. It absolutely will happen. You just— people get so stuck in the old-fashioned way of doing it, grinding and the calls and the mail and all that stuff. Like, you literally can come in here. Nathan did it, and within 30 days found a deal, $20,000 assignment fee. Hadn't even used the software before. Or this knucklehead can do it, you can do it.

Yeah, definitely, definitely. If this knucklehead can do it, you know, that should be an inspiration for you guys. No, but seriously, and it's, it's— I, I couldn't agree more. And, and, you know, it's why I can, uh, really relate to that because I'm one of those people that I'm like, oh my gosh, what? Like, you know, there's so many tools and techs and CRMs, and I hate having to learn all of them. I really do. I love tech and I love the cool things that it can do, but I'm just, you know, I'm just stubborn like that. And, um, one of the things I can say is it, it's really easy. Like, it's super intuitive. I mean, got it, you know, you guys got to see it firsthand. It's as simple as look for the big blue bubbles with the big number on it, you know. Um, when looking for the buyers, look for the ones with the arrow that says they bought it for $50,000 and they sold it for $150,000. You know, it's, it's um, super user-friendly, which I, I really appreciate that. Um, but yeah, guys, you got all the tools. You got enough to kind of go out there and be dangerous with it. Keep us posted on how things go. Again, yeah, if you guys, um, are interested— guys, don't— if you're looking to get into wholesaling, Privy is, is one of my favorite tools. Couldn't recommend it enough. Um, use the code Painless, P-A-Y-N-L-E-S-S. N-E-L-E-S-S, and you guys will get a cool little bonus. Um, and then as far as that, guys, let us know how it goes, keep us updated. And I think that's, that's all I got. But guys, until next time, Benson, any last, last words?

No, thanks for hanging out with us, you guys. Hopefully you learned a couple things. Um, but yeah, we'll see you next time.

All right, crush it, guys. Have an awesome week. See ya.