Why Investors Are Making $20K+ with Privy (While You’re Still Cold Calling 😬)

A lot of motivated sellers are hitting the MLS because a lot of them don't know about us, right? About cash buyers. So they— where do they go? They go to their agent friend, they list their home, but their motivation is super high. I have a listing. My aunt told me that her next-door neighbor just listed her house for way above price, but she's like, "Hey, don't worry about the listing, Nathan. She is going to lose the house in foreclosure. Somebody's going to jail. She's going to lose it." So I had one of my students call the agent. He's like, "Look, just make an offer." So they had made an offer, they had listed it like $150,000 more than what it's worth, but they'll take anything. So it's really interesting how the MLS works. Like price doesn't really determine, I mean, you really, it's tough, isn't it? Like it is.

Well, then on the other side of the coin, you've got these agents who will create artificial bidding wars by listing a property way too low, knowing that it's going to get multiple offers and they can do a highest and best and then bid it up. So like that list price is in my mind is completely irrelevant. Like it doesn't really matter what the list price is. At the end of the day, the comps will support what the value is, and the ARV is what it is.

Exactly. And by the way, for everyone that's tuning in, that's watching this live, or will watch here, that's in here, Benson and me connected. He's got an awesome program called Privy, which enables you to do, you know, do tons of deals, find deals that are discounted. He's going to show us how to do it. I actually have already done a deal using Privy. I JV'd with one of the people people in my program, Scott, he's going to be on a call that I'm doing next week with Benson. And we're going to talk about how it was like a $20,000 wholesale fee, tons of opportunity. Benson, I just want to thank you and Jessica for being able to make it to our community and help us out.

Yeah, of course. My pleasure, man. I'm excited to work with you. I mean, we're just getting started, right? So just talking with Lori a bit and we were just kind of chatting back and forth and she happens to be in the Bay Area. And one of the things that a lot of investors do, when I say investors, I'm kind of using that as a universal term for people that are just doing deals, whether it's a fix and flipper or wholesale type person, or you're doing creative deal structure, or you're buying properties to have for rentals or short-term, or even things like buying notes, right? What people normally do is they operate where they live. And sometimes that's okay. If you happen to be in an area where that is conducive for doing real estate deals, then you have a bit of an edge. Okay? But that's usually not the case. Usually people live in areas that isn't the best place for them to spend their hard-earned money and your valuable time and all the blood, sweat, and tears that goes into it. And I actually firmly believe that that's one of the major contributors to why people fail in this business is because not because of what list they're sourcing or who their coach or their mentor is or what software they're using or, you know, what their script is or whatever. It's their location, where they're looking for deals. Because in a business where everything is basically based off of a percentage of after-repair value, right? Well, the majority of the strategies are at least. You literally cannot prove after-repair value on a property unless you have comps that were flipped. So what this means is, is if you're looking at an area where there's no fix and flip activity happening, you're never going to be able to get the data that you need to prove after-repair value and actually start that process. So you're spending time and money in an area where you're never going to be able to, to pull the fruit from that, those trees and those seeds that you're planting. One of the things that makes us very unique, and there's a lot of great platforms out there, is that we have actually have direct-to-MLS data. Now that doesn't mean you have to do MLS deals, but when you're running comps or analyzing or underwriting your properties, you want to make sure you're using the best data that's available for that market. We've stepped up the game here. So with the map here, we've got direct-to-MLS data in over 70 markets, and we're going to continue to add more and more. But right now we've got a lot of the major areas that already are out there, but we also have public record data, county record data nationwide so that you can find owner information. You can go and you can find, you know, mortgage info. You can find off-market leads like foreclosures or vacancies or tired landlords or zombie properties. We've also got what's called third-party MLS data nationwide, and people have kind of become accustomed to that third-party aggregated data. That's kind of what like a prop stream has or batch leads. It's decent in a pinch, but if you're really looking to really step up your game, that MLS data is extremely valuable. And so we've done the hard work over the last 8 years of building these relationships. And now it's actually, we're at this time period where we've gone through all the grind and the compliance that when we come in and they're like, oh, you're in Chicago, you're in LA, you're in Dallas, you're in Philly. Well, you don't have to go through all of our compliance, right? Or you don't, we're not going to bust your balls as much is basically what it comes down to. Excuse my language.

No, that's good, that's good, that's good to hear it straight like that.

Yeah, yeah, it is, because it's honestly, that side of it is more of like a good old boy network, right? It's kind of like who you know, you know, how are you going to benefit them. And believe me, we've definitely, you know, cut our chops going down that road. But I say that to say that we're going to basically have 80% coverage of the entire populated US here within the next 3 to 4 months. And we're going to be adding in more and more data sources. Like right now we're working on acquiring all of the short-term rental data that's out there. So if you're doing Airbnbs VRBOs, we'll be able to analyze those. We're getting a more, I guess, universal homogeneous data set for rental property data. Like, that's really fragmented right now. There's a lot of companies out there that do it. There's not like an, like an MLS type scenario for rental data. So it's like all over the place, but we've been able to kind of put our heads together with some different sources to come together with one source for that. So we're doing some really cool things when it comes to data. What I think is the most valuable that if you guys take anything away from here today is that you really need to make sure you're targeting these high investor activity areas, because then at that point you're assembling all the ingredients you need to put together a deal. And the way you do that is by using our filters. So right here at the top, we've got several filters for different exit strategies. And if you're doing anything where you measure how good that deal is based off of a percentage of the after-repair value, like a wholesale deal, like a fix and flip, like a BRRRR, even like a rental property, a lot of times they measure like, yeah, we wanted to actually cash flow, you know, $300 or $400 a month, or we want to, you know, 12% cap rate or whatever it is. If they can get out of the percentage of ARV, they're ahead of the curve. So what you're seeing on the map right here is a heat map of where all the fix and flip activity is. And this is what you use to prove value. Now, you can see that there's some areas where there's just big holes like South Dakota, Miles City, Montana. Like if you live in Miles City, Montana, you're basically screwed. Like you're never going to be able to put a deal together there.

No love there.

Yeah. And even if you found a quote unquote motivated seller, maybe somebody who's in foreclosure, the data is not going to be there to prove number one to a buyer if you're doing wholesale or a buyer is thinking about proving to an end appraiser razor that a house is going to be worth something when it's fixed up. Those data points don't exist. So why spend any time or money looking there?

Right?

You shouldn't, right? Another thing is that probably most of us aren't doing this full-time. So you have to be very, very selective with what you spend your time doing. And if you're spending time banging your head against the wall in Sioux Falls, South Dakota, you're going to burn out. Your runway is 2 to 3 months, maybe 5 to 6 if you have a little bit of money in the bank, but sooner or later it's just going to run out and then you're going to have to go back to doing what you were doing before. So you should be targeting high investor activity areas. So it's where you see the, the larger circles with the higher numbers. And that primarily is in the Midwest. It's markets like Chicago, markets like Indianapolis, Cleveland, St. Louis, Kansas City. As you start to move east, really the epicenter of what is going on in this part of the country is Philadelphia. Philadelphia is really popping right now. You go any north of Philadelphia, it really starts to drop off. Even like Boston's not good. You go any further north than that, it's just not enough population for it to be considered hot. And then we were talking about Atlanta earlier. Atlanta is a really hot market. Texas, Dallas-Fort Worth is the hottest market in all of Texas. As you come down into the Florida market, middle Florida is probably the hottest. Tampa, St. Petersburg, Clearwater, you can see these high numbers right in here. And so the reason to show you that is that if you can get out of your own way and you can change your paradigm a little bit, and maybe you're not in like a horrible area like Sioux Falls, but maybe you're in Wichita and you're like, man, I can do some stuff in Wichita. And you might be able to stumble into a deal. But you're not gonna be able to build a business around it that has sustainability, that has predictability, that has consistency, which ultimately is our goal, right? Do you want to just do a couple deals a year or do you want to really change your life? You want to be able to leave that 9-to-5 job and actually go and do this full-time. If you're just looking for a one-off, then that's fine. That's— you're probably going to not be in this group anyway. If you're just looking for a one-off property to put a little bit of money in, right? You're investing in this community because you see this as a significant part of your long-term financial welfare is to build a legacy, right? Probably a portfolio of properties that will give you passive income. So where should you be looking? Well, I mentioned a lot of those areas, but what I want to do is take it a step further and start to drill down how I actually started to invest here in this house. So I'm sitting in a house that's sitting in St. Louis. I live in Denver, but I was doing virtual wholesale here in this market for about 8 months before I ever decided that I was going to buy stuff for myself to keep. I was just doing virtual and it was all on-market wholesale.

So I wanted to add, for the last 2 years until recently, until like the last like 6 months, I was doing virtual wholesaling, but I was doing nationwide pay-per-click, which means we would just not have any locations. We would do just get leads and it would, it was a nightmare. I mean, we did deals, but it was, it was just a nightmare of a business because you'd get leads from the middle of nowhere. You try to disqualify them. You eventually had to find out what was going to work. You would work so hard. So terrible business model, in my opinion. There are some people who somehow, like, they figured it out. I'm sure that they went and just went to specific locations, but I ran the nationwide one and it's just a lot work. So what Benson explains is like, hey, you can hit your head against the wall if you are trying to move deals where there's no buyers. And that's kind of why I teach the painless wholesaling method to say, hey, work through buyers first and then get your deals. And the cool thing about his system is you can see where buyers are. I mean, you might not have to get the exact relationship, but at least you know a further step than just turning on your marketing, being like, hey, I hope someone buys it. Because Lori, what you were saying is you had that deal in August and you're like, like, well, this was a bad area. Well, you'll never do that again because it was a waste of your time. And this is why it's so powerful. The location is, is the key.

Yep, absolutely is. And I chose St. Louis because it had high investor activity, and I was able to use the data to go in and actually get up to speed and then know the local market better than people who were actually doing deals in St. Louis. Because being able to look at a house with your own two eyes isn't necessarily going to help you figure out if it's a deal or not. What tells you it's going to be a deal is the comps, the data. So we give you the data, and then With this information, this report right here is called a live comparative market analysis. Our system is building one of these CMAs for every single property in the US. In an area where we have the direct-to-MLS, we've got, you know, really good photos, good property descriptions. The system automatically goes and pulls comps for you. So we pull in the comparables using the same that I would use as an agent using my MLS access. But instead of taking me, you know, a couple hours with, you know, my 20 years of experience, it's happening for the user in a fraction of a second. And it's all editable. Like you can see here, I changed the comp zone. We bring in rental data.

Data here. Here's—

that's the black ones. And then we show you the before and after data. So this house I actually found using one of our deal finding filters inside of Privy. I ran a search and I first researched all the buyers, and I figured out what percentage of ARV all the buyers were buying at. Then I called the buyers that had closed deals recently, and I built my buyers list. And once I did that, then I started writing offers. But I created a filter that said, show me every property that I can find that has a percentage of ARV lower than 60%. So the system went out, pulled comps on all the properties that were in that area, and then every day would send me an email alert, Benson, here's the deals of the day, right? It's sending me like a hot list, and this is one of them. So this property showed up in my inbox one day. Here's what it looked like before it was renovated. So I got this for $60,000.

Pretty nasty looking.

Yep, look at that. I mean, it looks like they had animals in there. Yeah, yeah, not dogs, like, like pigs and horses and cattle.

Yeah, it's like, like, yeah, stall right there.

And I, um, I had a buddy who had a person that was looking here and I trimmed off a little bit for him, but I actually sold it for $70,000 to wholesale it, $10,000 assignment fee. And I probably spent 3 hours on the whole deal. I didn't spend any marketing, didn't have to cold call, didn't have to skip trace. I didn't have to put myself in some uncomfortable conversation sitting at someone's kitchen table talking about them being in foreclosure. It was just, I found the motivated seller, which was somebody who put their house on the market and all I needed to do was just get it at the right price. And based off of what I knew about what fix and flips were selling for in that market, market. And then using the filter, I was able to get this at a significant discount of the lower of the ARV. And I already knew who the buyers were. So all I was doing was just connecting the dots. I wrote the offer to an agent that I found using Privy. So I looked at all the closed fix and flips. I'm going to show you guys that here in a second. And I found investor-focused agents, agents that work with investors. And I called a handful and told them what I wanted to do. I said, listen, I'm tired of the Colorado market. They priced me out. It's so hard to get deals done. I want to do stuff in the St. Louis market. And I told them my business model, and I found a handful that wanted to work with me. And I settled on Mika Ponder. She was my eyes and ears and boots on the ground in this market before I even came out here. So she'd go out and look at the properties for me. She'd take additional photos for me, um, video in some situations. But mostly I just wanted to see if there was something that I couldn't understand about the property from the description and the photos. And that's where she was invaluable for me. And so she was writing all the offers. So I would just find a property, send it to Nika, she writes the offer, she puts an assignment clause in the contract so that I can transfer it to an end buyer, and then I'm off to the races. And I'm just searching, I'm just looking at my email every day finding deals. And I found this one, paid $10,000 on it. Like I 3 hours of work, maybe. This one right here, I'm actually under—

That's amazing. I mean, I don't think people realize the traditional way of wholesaling. I talk about this because I do the reverse, and this is the reverse. The traditional is pull list. You don't know who the heck's gonna buy it. You don't really know where it is unless you do it by location, and then you just reach out, reach out, reach out, reach out, call, call, call. And, uh, it's painful. It can't— it is painful. I mean, I— if any of you have been on a dialer for 8 hours, it is not fun.

Fun.

Okay.

Yes, it isn't. It isn't. But to go through that and come out at the end actually winning a deal, I'm sure it's extremely, extremely like happy, you know, the happiness could come out of it knowing that you can— what you got through it. But there's an easier way, right?

Right.

And also just getting on the phone and making phone calls, doing the work, some people can, can get through it, but not everyone's good at it, right? I think there's, there's a reason why salespeople are the most highly paid individuals at any companies, because it's a very unique skill set. And if you're going to be focusing on outreach, like direct-to-seller outreach, you better learn how to close. You better learn how to be a good salesperson, a good marketer. You better have really thick skin. And some of those things are more nurture— I'm sorry, nature— than they are nurture. Like, they're in you or they're not. And I mean, we're all smart people, we're entrepreneurs, we can probably figure it out. But how much time do you have to be able to figure out how to be a good salesperson, how to be able to get on the phone or sit in front of somebody and get them to trust trust you. They literally want to give you the most valuable piece of, you know, financial assets they have in their whole life to you, somebody they just met, right? It's a challenge. It's extremely challenging.

Yeah.

I was just telling, before all of you hopped on, I was telling Benson what happened to me. I spent 2 months working with this lady. And so I'll be quick about the story, but she, her son went to jail. So he signed over the power of attorney to her. Her son had left the house in debt. He had credit card debt. So she was trying her best to sell it for way more than it was worth to wipe out his credit card debt. And the house that was in pre-foreclosure, all this stuff, it was unrealistic. So I was the whole time, I was like, look, hey, this is, it's not going to work. Like I'm trying my best. I even, she even let me wholesale it. I sent it out, presented her all the offers. She didn't accept any. So I randomly texted her today because I thought it was just done. She wasn't going to do it. And she's like, I'm closing on Monday. And I'm like, well, what did you get? And it's way less than what I had offered her. She had forgot about me. Maybe I didn't build the right rapport. I really think sellers, once you aren't able to really do get what they want, they just go to the next person. That calls and says they give you the offer they want. It happens all the time. So it's pretty frustrating because I spent all that time. But I mean, you don't really have to deal with that this way. And I would never— I don't want to deal with that again, but I probably will because that's just the name of the game sometimes.

That is part of the game there, right? And I mean, there's challenges doing this too, right? Like, there's going to be competition. Now, this is debatable. I'd love to hear your perspective on this, Nate. So some people say, well, I don't want to do on-market because there's more competition there's more competition for on-market deals than there is off-market deals. My perspective is it's the opposite. If you have a foreclosure list that you bought from some list provider, every wholesaler in that darn community who is targeting that area also has that same list, or maybe some variation, right? Because they're publicly available. You're competing with all these people and the majority of people have no idea what they're doing. And that's not to be negative. It's just that most wholesalers just don't know what they're doing because that's— there's so much churn, right? There's always this fresh meat out there of people who are saturating these lists with, you know, mailers and postcards. Postcards and knocking on doors, and that's who your competition is. So it creates a lot of noise, a lot of competition, legitimate or otherwise, right?

Yeah, I agree with you. I agree with you.

With on-market, there's some extra steps you got to go through. Like, you have to get an agent to want to work with you, right? You have to figure out, well, how do I handle the proof of funds situation? Um, you know, what happens if I have to put earnest money down? Do I have to put my own $500, or do I have somebody else do it for me? Like, those things weed out a lot of the noise. There's not as much competition. And with my platform, you're way more effective and way more efficient than someone who's just going through an agent, for example, because agents are busy. And I mean, I'm an agent, so I can say this, but most of them don't know what they're doing either. So technology, technology and data. This one, we'll get off my examples here for a second, but I got this property. This is actually what it was listed for. I actually got it for $40,000. I went in, I took a 40-yard dumpster over there. I hired some laborers. We cleaned the whole place out. I spent $1,500 doing that. It's under contract. It's closing the 16th for $53,500. Again, another property I spent a lot more time on that one. I went in there and I helped take the stuff out of the house. I just wanted to get my hands dirty. That day.

And this is in 8 hours in Missouri. Is that where you went and got your hands dirty?

Yeah, this is in St. Louis.

Oh, nice.

Yep. And then the house I'm sitting in right now is this house on Cherokee. So this is the one I'm actually sitting in. I got it for $150,000. The ARV is right around $270,000, $280,000. Um, but I came and I put $30,000 into it, just like, you know, doing like a burr. And I'm gonna get ready to, to, uh, put it on a short-term rental, uh, Airbnb next week. And, um, I'll be getting $3,000 to $4,000 a month for it.

Wow.

And this was an on-market deal I got right from Privy. So, I want to show you those because I'm not just going to say, "Here's a software, you should use it." Like, I use it in my own business, right? Nate said he closed the deal with one of his students. So, that's why I chose the St. Louis market. But you might choose a different market like Dallas.

So, we do— Lori's got a question. What's up, Lori?

Yeah, sorry. So, I have a quick question. Question. You were knowledgeable about, um, the St. Louis, Missouri area, right? Say that it's in best interest to like— because I did this last year and everybody was like, why are you doing that? I strictly only stayed in, uh, between Atlanta and Augusta last year, and that was it. And that's how I kind of figured out— I learned the area, the infrastructure, where, where there's development, where there's not development, where people are buying, whether they're not buying. But it took me like literally acting as though if I there, right? Like I would call agents. I would talk to people when I talked to sellers, if they weren't interested in selling, I was like, oh, by the way, how's the school district here? You know, I kind of saw on Zillow it said this. And it was like, I felt like I was doing a lot of background investigation work to really understand the area. And that's how now learned and now know I'm not going back into this specific area, specific area. I didn't realize the data included that, that I pulled. So that was kind of a waste of money. Right. Did you yourself do that too? Or like, how did you understand the area to know like, hey, this is a hotspot? I could see your program. I actually got it pulled up behind me. And Dallas, like, where— like, I mean, that's such a saturated market in my eyes. But what tells you to go to an area? And do you pick one and stay there?

So when I showed you those hot areas with those big circles, those are the areas that I chose. When I went through that list, I was telling you which ones are hot. That's how I chose St. Louis. So I'm looking for this high investor activity and then That's also how I learned the market. I don't care if this has a good school district. All I care that there's flippers there because they've done the research beyond what's important to me, which is all I care about is does somebody want to buy a deal from me, like a buyer? And if they're flipping properties there, then they— that is enough for me to believe that they've done their research to go and decide to fix and flip there. So all I research is the buyers. Now I need to get a little bit deeper with them, with, you know, what they want to buy, but that's what the data tells me. So as I zoom in here into this market in Dallas, and by the way, I can learn a market better than most people can in an afternoon just by doing this process I'm going to show you.

I think she— a lot of people want to know, is it just one area you work, like St. Louis, or are you able to do a couple because of the data and understanding what you're doing?

I'm just focused on St. Louis. I do a couple of things in Colorado because that's where I'm from. Okay. But I'm not doing multiple markets. Like, I've got it done. I've got a job too. Besides, you got pretty— yeah. Besides, you know, doing these projects that I like and enjoy.

So you're doing these deals in St. Louis pretty much part-time, is that right? Like, because you have Privy?

100% part-time. Yeah.

Amazing.

And that's what, that's what software and data allows you to do is to really be highly effective with your time in your business. And then you're being really intentional about what those, um, you get a good ROI of that time you spend because you're making offers. You're not just chasing people around on the phone hoping that they're going to call you back and then getting them on the phone and convincing them to sell their house and then having to convince them to sell their house to you and then convince you to sell your house to you at the right price and then sticking around the call closing, right? I'm not doing any of that.

Yeah. And I think it's just important for everyone to realize that he's saying he's not like in multiple areas trying to figure out multiple different buyers, and he's mastering St. Louis. There's enough opportunities in St. Louis that are coming to him that are off of the fix and flip list too, right? It's not just listings. There's enough opportunities off of your fix and flip, right?

Yeah. My deal criteria. Your deal criteria.

Yeah.

So my deal criteria is based off of what I know buyers will buy, and that's what I— the way I learned that is by going like this. So this is how This house just closed recently, okay? It was a fix and flip. And there's a section here called before and after. So, the before and after, I can teach myself what a deal is in this market. And by just by going, looking at like the last 10 to 20 deals, I'll know what the buying criteria is of the majority of the buyers that are there. And then, I can figure out who those people are, right? This is OCCM Inc. They're the flipper. They're the buyer on this. So, in a wholesale format, I want to know, well, what is OCCM willing to buy? Well, they're willing to buy from the MLS, number one, because they bought this one from the MLS.

[Speaker:NATHAN_PAYNE] And show us where it says that, that they bought it off the MLS?

4 right here. See that MLS ID?

So if you see that it's off of— that has the MLS number, it means they bought it off the MLS.

Yep. And they bought it for $153,000. They sold it for $297,000. They got it 52% of the ARV. Okay. Um, over here on the right is the after product. So we can see what kind of materials they use, what kind of design they did. You know, buyers love these after— before and after because it can help them understand like what's driving value and help them do their due diligence when you're marketing your deals. So I always send these links. So every one of these CMAs has a sharing link. So when I market my deals, I send these links out with MyDeals. So they have a CMA to interact with to understand what the comps are saying.

And they don't need a Privy account to see those?

Correct. They don't need a Privy account.

Sweet.

So I can see things like who the agent was. So when I told you how I found Nika to represent me, well, Roger Lopez right here of Value Properties is an agent who represents investors because they just flipped this property. So I know what the timelines were. So 63 days under construction, 70 days on market, 133 days total hold time. I know that it's OCC. OCCM. So, what I would do is if I was trying to build my buyers list, I'm going to call OCCM. I'm going to do like a quick Google search, find their phone number. I might use OpenCorporates and then, you know, True People Search and eventually come across a phone number, right? But it's a very straightforward process. Like, Roger Lopez is the agent and the flipper. Wow.

So, he has his license and flips. Cool.

Yep. So, Roger, I could find— I mean, I have his phone numbers. I could call Roger. I'm like, "Hey, Roger, my name is Benson. I just wanted to give you a quick call. I saw you just close that house on Grayson Drive last week. I got I got to tell you, man, it looks amazing. You guys just did a really good job. And I'm so surprised how fast you closed that deal, 63 days. Like, your crew must be like on point. Congratulations. The reason why I'm calling is because I'm an investor in the area too. And, you know, we're generating quite a bit of deal flow and so much so that I just don't have the bandwidth for everything that I'm coming across. So I'm networking with some other local investors to, you know, build some relationships, some JVs. And, you know, if I came across a property that was similar to this one on Grayson Drive and matched all your deal criteria, would you be interested? Interested in it? And he's gonna be like, heck yeah.

And that's a conversation that a buyer is interested in because a lot of people will talk to me and they're like, how do you build, develop relationships and build, you know, credibility with a buyer? Well, there you go. You just said exactly what will show a buyer like, hey, I'm talking to someone that's, you know, credible, right? Knows what they're talking about.

Right. And I leverage the data to formulate that conversation in my mind, right? So I'm demonstrating that I know what I'm talking about because I just told them about a house they closed, right? I'm using the data in a script that I know now, but I provide it to our users and it just flows, right? It's conversational. And the way I say it, I think, at least they've told me that too, when they call me back when I'm leaving voicemails, like, the reason why I'm calling you back is because you told me about the deal I just closed. And by the way, thanks for the compliment, right? They love that sort of thing. So, I know it works and it's the best, easiest way to build a valuable buyers list than just like pulling people from Facebook or the local RIA or, you know, in the community, people say, oh, I'm a buyer. Well, yeah, prove it. Yeah. Like, have you done any deals recently? Because I want to work with people that are doing deals, right?

Well, hey, Benson, we got some questions. Jeanne, I think you had your hand raised. What do you got?

Yeah, I just had a quick question. So I've had Privy now for months and I'm not using it to its fullest extent. I love it. I mean, I tell everybody, I recommend everybody to use it. I like it so much better than PropStream. And so what would be the— it's true. And I'm in a group group of like 2,500 women, so, and they all were trained originally to use PropStream.

So Benson, there you go.

We've all been trying to switch over to, uh, GetPrivy.

Amazing.

We're not— you would definitely have not been educated to use it the proper way because right now what we're just using it for is pretty much like comps and stuff like that. So what would be the best way to, for like a quick training? I mean, because I jumped on late, so maybe you had already done it on this call, but what would be the best way to do training to actually look for properties? Just listen to this call, or you have a training separate?

We do trainings twice per week, just normal Privy trainings, like recurring every Monday and every Thursday. So you're more than happy to jump on those. But if you could arrange a meeting with your group, I'd be happy to jump in and show everybody there how to use it in an environment where, you know, people are comfortable, right? Like, so I'd be happy to do that. But we, we provide tons of training. Um, you know, that's part of what Nate and I's goal is, to continue to do recurring training so that, you know, if you buy you're using it, like it's not sitting on the shelf. Yeah, I know.

I'm not using it to its benefit, and I've had it probably at least 4 or 5 months now, and I really want to use it to its benefit. Yeah, we were kind of told that it's kind of complicated, but it seems like what you're— how you're showing it is not very complicated. But from what other people have said, like, oh, it's complicated to get really into it, to use it beyond just like the comps and stuff like like that.

I, I don't believe it is. I think it's about a flow, right? Once you get the building blocks in place and you understand the basics, some of the middle-level stuff, and even like higher-level stuff, it just all starts to kind of connect. You'll have an aha moment, basically. Yeah, no, this is gonna all click in your, in your brain.

Like, yeah, I'm really excited.

My opinion on complicated, Jeanie, is like, I send out emails when people join the program and they find it complicated to read the email, you know? So I— that's just how, how it is for people, right? If they have to look around and I guess even learn something or take some time, a lot of people just give up, right? So, I mean, Benson showing us how to use it like this is awesome, but yeah, it's definitely easy to use once you go through the flow. I mean, I think all of us could pop into Privy right now and pull up a property, see before and after, and kind of understand where we need to be just off of this simple call.

Yeah.

So I had a partner that I was doing some wholesale deals with. And so she would use PropStream, I would use Privy, and then we'd talk and figure out and what, you know, like what we were going to make our offer and everything. And I just found that Privy had better information.

Yeah.

So you guys can also message each other within Discord as well. I don't know if you guys use Discord a lot, but that you're both in the same chat so you can talk to each other. Also, Jeanie, I'd love to get your 2,500 women in this group. I don't know if they'd want to come.

I'm trying. There's some of the New York ladies are definitely like interested, like Yvette Page. Is it Yvette Page? I know, I think she was reaching out to you on Messenger. So check in.

Bring them all. Bring them all in.

Yeah, I know I am.

It's cool enough to come in here with us each month and, you know, show us. And now if we get 2,500 people, I'm sure they'll come in here a lot more. Or you can schedule some direct with him. So anyway, I'm not—

someone asked the question if I was part of the InvestHer. It's not. I'm part of the Women's Real Estate Investor Network, WREN. W-R-E-I-N.

Sounds like a powerful group right there. Sounds like a good group.

And we're about 3,000 women at this point, but then the people that were— I'm in an inner circle as well, which is about 180 people that, you know, want to take it to the next level. And the guys that set up our Podio account custom do use Privy, and that's— those are the guys from the Wholesale Connection.

Cool. Very cool. Well, thanks. Did I answer your question?

Yeah, you did.

You did. Okay, awesome. So going through the flow here and kind of help to connect the dots on what we're doing here is really understanding like the local market. I don't think there's enough emphasis put in education space, in the real estate education space about like knowing your market. Like it's mostly about lead generation. It's mostly about like, you know, marketing and ringless voicemail and list stacking and outreach and scripts where even if you were to do that all perfect and you were like the perfect salesperson, you could really close. But if you could get it, if you get a property and you don't know if it's a deal or not because you don't know how to run comps, you don't know how to determine after repair value, you don't know how to market these deals to your end buyer using the data, then all of that is worthless investment. Because at the end of the day, it's like you need to know what a deal is. And you know what a deal is because of what all these investors here have done recently, right? So that's how you learn that. And then you take it a step further and you're like, okay, cool. Well, I'm going to— this is where I'm going to search for deals, right? So if you live in Dallas-Fort Worth, then if you like doing the driving for dollars, this is the neighborhood you would drive in right in here. That way, if you come across a deal or you come across a house that looked like it's it's vacant. You have the data present to be able to determine ARV as opposed to being in Sioux Falls where there's no buyers and there's no data. So you're basically setting yourself up for success by laying the foundation and beginning with the end in mind and working backward. So starting here, this is where you're going to market. If you're going to, if you want to do off-market, great. I have no problem with that. It works. But if you want to say pull a list here, you could pull a list. You pull a list of, you know, foreclosures or absentee owners, or vacants or zombie properties. We give you up to 10,000 off-market leads per month as part of the Privy platform, no additional cost there. If you wanted to run comps on a house and it's like you're driving around and you want to figure out what the house is worth, just enter the address of the property right in here to the search bar. Our system builds a comparative market analysis for it, and then you can look at it on your phone and like, oh cool, well, you know, here's who the owner is and here's the flippers in the area. And so we allow you to do it quickly, whether it's from your computer or whether you're in the field.

Benson, can I ask a quick question? So if you go to the before and after on that sold property, I know it, I saw that it showed who the owner was. Does it also give the details of the owner? Uh, sorry, the agent that listed it, their number, or do you have to do a Google search on that as well?

You got to do a Google search, at least right now. We're working with the MLSs to help us give that information. Um, but right now we can provide that to licensed individuals that they'll get to see it right inside of Privy. But you really got to— it's one click, right? So you just right-click, search Google, and then there's their phone number.

Yeah, easy. I just didn't know if it was down further or if it was right there. So it looks like it's there. And then down below is the owner, right? If you scroll down. Okay.

Yeah. The owner is in the public record section.

So you're looking at the sold data. How— I'm just curious, how do you switch between the sold and active? Is it right there on the top right?

It's right here. Yep. So this part of it is actually patent pending. So we have a patent on what we call the comparative search. It's a reverse algorithmic search where we basically, we take all of these closed deals and we use those as a model for what a successful deal looks like. And then we reverse engineer them. So if you click this button right here, it says find similar active deals. Our system's going in right now and it's pulling comps on all the properties in this area. And it's only going to show us the houses that match our specific deal criteria. Now in Dallas, I don't know exactly what deals I could have gone a little further, but let's just say we figured out it's right around 60%. Okay. So 60% of ARV is, you know, what we see buyers buying at. Maybe we talked to a few buyers to confirm and create their buy box. We could actually save this in there. Maybe one buyer says, well, you know, I want to be under, you know, $250,000 purchase price and I want a 3-bedroom, 2-bath in these zip codes, we can do that. And we can create a buy box in Privy and then Privy will search for those properties and then email them to you like I did earlier when I was showing you my houses. These are— you're just telling it what you're looking for. So let's say we use this filter. So Privy just ran that search. Here's a house that came on the market today. All right. So if I had saved this search, I would've gotten an email alert for it, right? Here's the property.

That's a good one right there.

Yeah. And if we scroll down here, the reason why we flagged this property as a deal is because there's 2 houses that were recently fixed and flipped, uh, Actually, this one hasn't sold yet. It's for $245,000. This one was flipped and sold for $255,000. So this property that we can get for $134,000 is 53% of the after-repair value of $255,000. So we use the sold fix and flips in the area to identify unrenovated homes that need to be renovated. And then we're looking for those margins. And this one's a deal. This is a house I would write an offer on today if I was in the Dallas market doing business.

Quick question, when you search for that on the find button, how did it know to look in Dallas? Was there a filter or a boundary that you set, or was it just because you were zoomed in on that area?

It uses the zoomed area as the— okay, so if I were to back out here, the algorithm is going to adjust and it's going to start showing me stuff all around.

Gotcha. I just wanted to— yeah, that makes complete sense. I just didn't know if there was like boundary that you had to draw when you were doing this. So it sounds like you just zoom in what you want and then we'll do it.

Yeah. And honestly too, you can define a boundary. So like this is the area that I liked.

Okay.

So I could define this a little bit further so that I'm not pulling stuff from outside where I know it's hot. Perfect. But that's a really, really good question. I mean, here's another handful of properties that could be— look at this. And this is only $50,000 in Dallas. I mean, I've never seen a house that expensive in Dallas. But if we scroll down to the table here and we look at the comps, look at all these, look at these flip properties. That one is for sale for $218,000. This one sold for $241,000, $155,000, $180,000. Look at those percentages.

And these are flipped, all flipped homes, or they're going to be flipped homes if it has a before and after. It looks like a gray and a black.

They're flipped if they have the before and after.

Okay.

Now this house right here may have been flipped, but it didn't match our flip criteria. Like what we look for is 2 transactions in an 18-month period and it went up in value a certain amount. So this one could be renovated and it could be representative of the after-repair value. And to me, it looks like they've, they've done some work to it.

It looks like they tried.

Yeah. But if we look at the, the before, the previous sale was 2019, so it didn't match our criteria. So maybe they moved in, it did some little bit of work, right? Like a live and fix. And then they eventually sold it here. But this This one I'd say was representative of ARV.

So Benson, let me ask you this. What's your opinion on all the people that are pulling data and trying to just find that off-market when we're seeing right now how many opportunities are on the MLS? Do you feel like they're just wasting their time? Or like, what's your opinion on all that data pulling and skip tracing and calling?

I think in a time where everything you do is so expensive, like your hours are very, very valuable. And if you're spending your time calling people who don't want to talk to you and you're leaving voicemails, that means you're not spending time doing this, right? Your opportunity cost is enormous. So you have to figure out if it's— if you're just doing it because that's what somebody told you you had to do, or if you really enjoy it. Like, if you like calling people and getting cussed at, that's awesome. But I don't, and I'd rather just close deals. So this is just, you know, one market. I mean, I just went in and I'm just looking at the data that's there. Every market's different. And let's say you pulled this and there wasn't anything today, because I'm not— I didn't cherry-pick this market. I didn't go and be like, hey, here's a deal, let's try to convince everybody to buy Privy. So here's this house. There may not have been anything today. And that's, that's totally fine. But what you do is then you save that search and then this will email you whenever something's found that matches your buying criteria. So you don't have to be in this all day. Like if you have a 9-to-5 job, maybe check in the morning, you know, see if there's anything that where you want to get an offer out, you just click forward, share, send it to your agent. Say, I want to write an offer for this for $125,000, 30-day close, 10-day inspection period, $500 earnest money deposit. And, um, oh, and make sure there's an assignment clause in it. I send that over to her, she writes the offer and then it just comes to me on my phone. I sign it. Send it, she sends it off and then that's it. It's really simple, honestly. Yep. So I showed you, you could export lists. I don't know if I showed that, but about foreclosures, you can export, download lists. We give you 10,000 per month. You can upload lists. So let's say you source lists from someplace else. Maybe you get, you know, free, like in Colorado, you can download the probate list right from their website. You can upload that into Privy and our system will build a comparative market analysis, analyze all those houses, pull comps, append all of the information we find publicly available, like owner information. Is it in foreclosure, is it listed? We append it and then you can export it out into a list. This one I did, this test list from yesterday was a list that one of our users had. And I showed everybody how to upload it and then it built a comparative market analysis for everyone. So this one's, that one's actually a really fun feature. But besides that, you guys, like the system is not all that complicated. There's some subtleties. Obviously I'm an expert using it, but we have lots of support. We have lots of training for it. And I know that everybody here learn how to use it. Yeah, 100%.

Well, I'm glad to have you on here, Benson, because I already told you kind of my goal is to help people get deals with minimal time and spend, and this is one of the best ways to do it. I know because I've done it and done multiple deals off the MLS, and it's cost me no money. And it feels great to do a deal when you don't spend any money. It's like my favorite thing in the world to do a deal where I'm like, how much did I spend on that? Nothing, right?

Nothing but a little bit of time. You're right.

It's a good feeling. Well, quickly, I want to open the floor to anybody for Q&A. Is that cool, Benson? See if anybody Anybody's got any questions?

Yeah, for sure. Okay, for sure.

I mean, I have a question.

Go ahead. What's up, Nelly?

I mean, I'm still very, very newbie at all this, so like Benson, how did you get your start and how did you even learn how to do all this before you could even write offers and get to that point?

You mean when I actually started to do business in St. Louis or like way back 20 years ago when I started the business?

Um, just who you're saying, even though we can find deals, we got to be able to obviously make the offers and how to know if it's a deal. What did you do to get to that point? I'm just curious.

Yeah, I think it's a combo. Like I have, I've been in the, in the business for 20 years, so I've cut my chops in doing wholesale and fix and flip. But as far as getting in, doing business in St. Louis and feeling comfortable doing it here, like within a few days I was ready to start writing offers. Like I was in there looking at the closed deals. I looked at all the past closings so I could see exactly what they were buying them for, what they're selling them for, how much money they were making, what percentage of ARV they were buying at, who they were, who who their agents were, which areas were hottest. You can literally do that local market research and become a local market expert better than people who live there in an afternoon. In an afternoon you can do that. Now, will you be ready to start writing offers at that point? I mean, since you're newer, you're still going to have some second guesses in your own mind about, oh my God, do I know what I'm doing? Like, it's going to take a little bit longer. But I do believe we're going to give you the shortest path to being comfortable and starting to execute, take action, than if you were doing the off-market path because there's a lot more to figure out on that side. It's the sales scripts and it's the feeling comfortable on the phone talking with, you know, someone who's losing their house in foreclosure. And there's just so much there. It's like drinking out of a fire hose, really. There's less to figure out by doing on-market deals than there is off, in my opinion.

Yeah, it cuts out the part of having to negotiate with the seller and go through all that rigmarole, right?

Yep. Henry is asking, is it only MLS data or off-market? It's both. So we have all the off- off-market stuff like PropStream would. We just have the on-market on top of it as well. And we, you can, you can use, we've got lots of users who use Privy who don't do on-market deals. They, they still pull the list. They still do the skip tracing. They still do that because they've figured out the formula. So if that's what you want to do, it doesn't mean Privy is not for you. Privy is just, it's the easiest way to find like these, these low-hanging fruit on-market deals, in my opinion, anywhere in the world. And that doesn't mean just like tooting my own horn. Like, I've seen all the software products out there, so you can do any, any strategy. If you wanted to use this to buy rental properties, we'll help you find the best areas to find rental properties. If you want to do wholesale off market, you can absolutely do off market wholesale too. It's just that what I tell people is that our system is exit strategy agnostic. Whatever it is you want to do, it's there for you.

Sweet. Well, thanks everybody. I hope that answers everybody's questions and definitely have Benson back. We're going to be doing a call together next Wednesday, right Benson? Benson at like 6, I think 6 Mountain Standard Time. My goal and his goal is to show you guys how to use it too, like not just to tell you what it can do, but show you how to use it and actually use it and and get deals because that's why we're all in here. We're here to create the freedom we want through this vessel. And, you know, thankfully we have Benson to show us how to use it.

Hey Nate, I have a discount for your group if that's okay. Can I share that?

Yeah, of course. I don't know if any of them signed up already or will, but yeah, please, please. Any discount would be great.

So use the promo code THRIVE and that'll give you 20% off your first month. Or if you're interested and you have a little bit more money in your budget, you can get probably for a year. We give you a discount down to $9. $30, but it comes with my, my course. So I actually built a course when I went and started to start doing business in the St. Louis market. I documented my entire process over 30 days and I turned it into a course. So I'm going to give you that for free if you decide you want to go with the annual plan. Um, and I also have a buyer's list that has over 5,000 people on it. It's all nationwide, already pre-skip traced. Uh, I'll give you that too. So that's with that promo code THRIVE.

Wow, that's awesome. Thank you so much for helping out my community, Benson. That's Really nice to you.

You got it. No problem.

That's awesome, man. Well, I hope you guys try it. And if you, if you do, let me know. I'm going to be using it and showing you how to do it. So it's not like I'm just like, hey, try it. I use it and we're going to explore it more together. So super exciting stuff.

So one last thing, Nate, we have a 30-day money-back guarantee so they can literally use it for 30 days. And if they just end up hating me, then they can quit and get their money back.

Come on. That's, that's too good of an offer.

It's good. Do we put it there right? We don't want anybody to have any hesitation, right? You get in there, come to the free trainings, use the software. Find deals. We do that because we believe in the tool and it's going to work for you.

That's beautiful. I love it. Thank you so much. That's a great— that's great. I didn't know that you had the 30-day money-back guarantee, so that's— that makes it easier to try.

Yeah, no problem. Well, I appreciate everybody being here. Thank you for everybody that's here in the room and anybody that's watching us streaming. Uh, let us know if you have any questions.

And remember, if you're not able to make his weekly, which I recommend you should, or our next call, he's here every month where he's— we're going to be diving into this. And I'm sure we can do more if this becomes a riot. And I think it will. It's gonna be— everyone's gonna be loving it.

Oh yeah, absolutely. Well, thanks, Nathan. I appreciate it for, uh, having me on. Everybody that took the time, and, um, thank you so much. Let me know if you have any questions. Have a good weekend, you guys.

Yeah, appreciate it.