How to Estimate Rehab Costs | Estimating Rehab Costs

Hello.

How is everyone?

Well, awesome. This is TJ with Solutions by TJ as well as the Millennial Masterclass. Solutions by TJ focuses on help on side hustles, mobile notary, helping homeowners keep their homes, and personal finance. The Millennial Masterclass is all about real estate investing and investing your money in real estate to build wealth for you and your family. So.

I the, I posted this late today. I had the flyer up, I created the event, but I actually did this post a little later today than I normally do. So my apologies for that. It has been a long day and y' all know I keep it real with y'. All. So I'm gonna tell you a little bit about my day.

And I am going to get a link to the live right now so that I can post that in Facebook. So if you are on Facebook, I ask that you please head over to YouTube because I believe that YouTube is just a better experience for this.

For whatever reason, I'm not seeing the.

I'm not seeing the comments that are posted on YouTube, I mean on Facebook. So if you would please, please head over.

To YouTube and I'm posting.

Such thing right now.

Thank y' all so much for joining me. I'm gonna get started in just a few. Just getting into the, into the topic at hand today. But I'm excited. I mean, I feel a lot better than I did earlier.

Whole lot better. But it has been one crazy day, let me tell you.

First of all, Madison, my daughter started school this week and this virtual school thing is just bananas. I mean.

I'm not a great test taker. My daughter isn't either. The teacher has this dog on timer going on and it's just freaking Madison all the way out, you know. And then not only does she have a timer for questions in, but she's counting down with the timer. So you know, she's saying.

She has, it's a two minute timer when she asked them a question. So she's asked them a question, she gives them two minutes to answer the question. She's. The timer is on the screen and this lady is counting down on the dadgum timer. Now if that wouldn't drive me to drink, I don't know who it would. I mean, I can't, don't, don't put no timer on me, ma'. Am. So I can't even think about what I'm trying to do because it's a timer and that just don't work. So I'm trying to focus on what you said. Absorb what you said and do this. But anyway, y' all didn't come here for that. I love y'. All. Thank y' all for coming. Like this video, I didn't get half as many likes as I needed last night. If you're getting good information like this video, I think that, you know, tonight will be helpful for a whole bunch of people. I posted the link on my Facebook pages.

Just so that you all have it, and if you want to send it to friends or whomever, then please do so. But I posted the link on Facebook, the actual YouTube link, because I want most people to join me on YouTube. It just works out better. So.

Without further ado, let's get started doing what we do right tonight. I was trying to be fancy and have my friend who is an architect. What sound?

Oh, you're talking about the timer. Okay, I'm looking at it. I was trying to be fancy and had my friend who's an architect and a project manager for commercial properties to come and talk to y' all about rehab. But I guess the good Lord had something different in plan because poor Faheem had a horrible.

Reaction to something that swole his face up today. His name is Fahim Williams, and we went to college together, and we are still very good friends. But, I mean, I think, you know, that it's even better because I'm just going to tell you how I do it. And I mean, you know, the same thing that I do with Notary. I'm going to tell everyone how I do what I do. As far as rehabbing homes, I looked it up today, and if I didn't know what to do when I don't know what to do, I look on Google. Google is your friend. If you don't know what to do, Google it. There's a site called Bigger Pockets. They answer a lot of questions. But when you Google a certain real estate question, all kinds of stuff pops up. And yet, you know, when you Google stuff, it's way too much information to decide what's right, what's wrong. So I went through it for you, and we're gonna go through it today. Now, how does Latonya Cherie Johnson estimate repairs? I'm going to tell you the politically correct way, and then I'm going to be real with you. Okay? Politically correct. Get professional licensed contractors to come out and give you quotes, especially for your larger things like electrical, foundation.

Roof.

Plumbing.

All of that.

And if you have a or know a general contractor, then allow them to come out and review your property and give you an estimate. Okay. Now, part of that. The first part of that was what you do all the time. Yeah. You know what I'm saying? What I do to estimate repairs is a little bit ghetto. But I called my uncle Tyrone, who's a plumber. I call my friend who's an electrician. I call this other guy that I can give a six pack, and he'll go out there and walk the property. You know, I understand when there is a foundation issue. Right. And I have a general idea of how much it costs to get a foundation repair. If you walk on a floor and the floor starts leaning, there's a foundation issue. If you see cracks in the floor, in the tile, there's a foundation issue. If it feels like the doggone floor is just leaning, and as you walk, you can really feel it. If it feels bouncy, you know, in those pier and beam houses, there's a foundation issue. Right. So, you know, I can. I can estimate, and we're going to look up today how much it costs for a foundation. Electricity, electrical and all of that. But that's the pookie way of doing it. I know people who do that in my family, and if I don't, then my family knows somebody. If they don't, well, I mean, that's as far as I need to go, is my family. Nine times out of nine, these are people that I grew up with. These are people who have raised me. And every business that I have owned, from restaurants to clubs to, you know, houses to all kinds of stuff, they're out there.

And sometimes I put them in some real bad situations because my po Plumber, Tyrone. Ooh. My uncle, baby. He is a lifesaver. So figure out who in your family or what connections you have, even if it is not your family. But you have to reach out to your friends, your immediate circle of friends, of people that you know who you grew up with and people who know you, that's your first line of defense. Okay? So that's sort of the getaway. Are they licensed? Are all of them licensed? No, no, all of them aren't licensed. But they give me a good estimate they can get the work done, and they know how to get the necessary.

Permits that are required by the city. If a permit is required by the city and you have to. If you're in Georgia and you're in other places.

If I'm not mistaken, you have to be a licensed contractor, period. So all of the contractors are most likely licensed. And if they are not, then they. The guys that I know in Georgia who do work like that, they know a licensed contractor who signs off on their work and gets a portion of the deal. So it all works out for everybody. Does anybody have any questions about that so far?

Okay, so let us.

Let us take a look together.

At. I'm going to share my screen with you.

And we're going to look at this together how much it costs to rehab a house. And what I found, to be honest with you is. Hold on one second.

What I found, to be honest with you is that, you know, the cost is really.

What I normally pay. Which I was surprised. I thought I was going to see something really, really outlandish. But it wasn't outlandish at all. It was for real around the. I mean the estimates that are given online are really what I pay. I didn't know whether or not those costs. I'm turning that down. I'm turning my phone on so that I can see because once I go to another screen I can't see. Is everybody doing well? By the way, I'm not seeing any comments or any activity, But I see 18 people are online. So let me know if anything is wrong on my end or if I need to shut up or what.

Okay, so here's my screen.

And what I'm googling is if you can see at the top cost to rehab a house, 2020, because I want that exact day. So what is the cost to rehab a house? And this first thing that came up was pretty much right know, whole house. Well, I don't know, you know, it's a bit expensive. So that 40,000, mid range.

High end.75. Yeah, mid range, that could be about right. High end, about 75,000. That's okay, let's go to this site real quick.

And a lot of people use this square foot, square footage method and this is really, really, really the truth. I have not paid more than.

For, I mean gutting a house completely out. I have not paid more than $38,000. And I probably could have trimmed those costs down because I was starting out, I was just starting out and that's the most I've ever paid was $38,000. That's gutting it down. It was a 1700 square foot house. So that's gutting it down to the studs. So when you give an estimate of a low end rehab at $15 to $60 per square foot, that's a good estimate. That $20,000 is really and truly what I've normally paid. 20, 25. I've never paid 19, 19, 8. But I have paid the rest. So, you know, low end, if you don't have much to do at all, then that would be accurate. $20,000. High end for me has been about $40,000.

Whole house, low end, they're saying 15,000. Mid range, 40,000. Whole house, high end, 75. Now this gut to the studs remodel, definitely not a hundred thousand. When I say good to the studs, I'm talking about gut to the studs. I'm paying 38, 000.

Every room just gutted to the studs. Okay.

So I believe that's what popped up earlier when I looked for it. But let's look here as well because this is another site.

And I'm looking.

Okay, so if you go to remodeling calculator.

If you go to remodeling calculator, this tells you. For most homes spent between 5,000 to 13,000 on remodeling. A bathroom.

A kitchen.

Between 7,000 to 16,000.

Major renovation, 14,000 to 48,000.

And here are the low end, average and high end, right?

Home edition. Because so many people need to add a dog on bathroom. It is not funny. This is not the truth. In my opinion.

Where I am and the people that I know, we can get a whole addition done.

It kind of varies, but if we're adding a bathroom and we had to add plumbing, just all kinds of stuff, I'd say it could be anywhere from.

10 to 15,000 to do that.

House painting two to four. It's about right.

Roofing.

This, 4,000, 4,300 to. To 7,900. That's about right.

That's about right.

Replacing windows, if you have an older home.

3,600 to 7,300. So I really, really. My point is, I really. Let me hide this. I really like this tool. Just for an estimate, H Vac, replace the ac.

This is really on the money. I mean, I've replaced an AC for about $5,000, no more than 7,000. Remember, when you are replacing an AC, don't get, don't get swindled. And when I say replacing the ac, go and look at scratch and dent stuff. Find a scratch and dent in your area because a scratch and dent ac, a scratch and dent refrigerator, a scratch and dent appliances, and all kinds, baby, they work exactly the same. It's just maybe, I mean a scratch that somebody else can't deal with, but it's a scratch that most people won't even see. But if it's their first home and they aren't installing it then they possibly see it. But when you slide their refrigerator into the slot, as long as it's not on the front door, you can get so many bargains with just, you know, with just going the scratch and dent way. For real. If you have to replace an ac, find scratch and dents and they are everywhere.

And let me see, they have additional things down here. Let me see if they get into the electrical. Now, a lot of this stuff.

Is.

So they give you the average costs all in this one area for siding, gutters, roofing. They are. The only thing that they are not talking about here is foundation. And we'll Google that in a second.

This is saying the most expensive room to remodel is the kitchen. I normally, I mean, it depends. If I got a kitchen, I'll spend anywhere from probably.

10 to 15,000. I mean, and that's, you know, if, yeah, I ain't spending a whole, whole bunch. But that's on a really, really, really nice home. Really nice home where I'm putting in granite. And granite is so cheap here until it's just unreal.

I mean, I have a, a place in Houston to get granite where, man, I mean, I can get a whole countertop just for 400 bucks. That's nothing. So this is talking about the hidden cost, structural damages that's your foundation, complex electrical and plumbing updates that's going to eat up all of your money, as well as mold and termites. So mold you can normally smell. I don't know if y' all have smelled mold before. I talked about this earlier this week, but it smells like sour clothes. It just smells sour.

And it's a smell. I don't even know how to describe it. But.

Mold is easy to treat and it's. There is an organic microbial substance that the professionals use. My child's father is Mr. Mole Guy in Atlanta. Okay. So if you're in Atlanta and you need mold treatments, trust me, he's gonna give you the best deal in town and let him know, hey, I know TJ and you'll get an even better deal for real. Or call me, text me, DM me and let me know and I'll help you out with that mold. Because a lot of the basements are just horrible in Atlanta. I mean, it's a lot of mold, A lot of mold. And if you have mold, you can't just tear stuff down and, and act like it doesn't exist because mold is going to come back on your brand new stuff and mess it up. So mold is something, but it doesn't have to be super duper expensive to fix either. It's an easy hack to fix mold building code violations. Like I was telling you, very important to hire a licensed person pro. And if your Uncle Poo Poo is doing it, then make sure that he has somebody who is licensed that will sign off on whatever permitting is required, who will look over his work and sign off on it.

And here are some budgeting ideas or tips that they give. You know, purchase stock rather than custom built materials. Many small items blow up the budget. And that is the truth. You know, they have even like, you know, because I like, I think it looks good if you're going to rehab a whole house, not to put the same vent covers or electrical covers. So I like all of that stuff to be new. That stuff you can find it for, for 40 cent, 60 cent, you can buy it in bulk. Look around your city for. And this is just some homework and it's actually fun. I enjoyed when I first started going to Home Depot and I enjoyed walking down the aisles of discount.

Building material stores. I enjoyed that. It was fun looking at the bathrooms, looking at all the scratch and dent stuff. So that's a part of your homework. Go and look at that stuff. Because it is, you know, it's better to do it now than to do it later.

Also, when you're remodeling, make sure that you and your contractor go through the house with a fine tooth comb and that you give every single thing that you want done up front because changing your order builds the price up. And by the end, it's all when you spent way too much money. So go through the house with a fine tooth comb with them. If this is a house that you plan to flip now for estimates, you don't have to do all of this. You don't have to worry about scratching dents. You don't have to do that. I'm talking about if you're going to flip a house, the estimates are required. When you're wholesaling a house or even when you're going to flip a house.

Prior to actually getting the contract, you want to give something in your mind about how much it'll cost you to rehab that house. Just a general idea.

Okay, let me look over here and see if anybody has questions. Hello, everyone.

Do me a favor, join me on YouTube.

If you can. I am.

Putting the link.

I'm showing the link and I'm about to put it in the comments. So if you can join me on YouTube because I want to make sure That I answer all of your questions, and.

Sometimes I cannot see what's going on on Facebook. Don't know why, but is this helping anyone? Is anyone, you know, am I. Are you getting some of the information that you need?

Okay, so I'm going to go on and continue remodeling estimates real world versus cost estimates versus real world.

And that's true. The level of finish that you want on your remodeling job is really what dictates the price.

All prices are for work that is done up to code standards and inspected by the city if necessary. Again, different cities and states have different permitting and building codes that must be adhered to. And violating those can just kill your project. And not only kill your project, but kill your doggone budget. So, you know, I'm gonna go through this a little bit faster.

Average kitchen remodel that's pricey.

New kitchen cabinets, includes installation. That's about. That's a little high. But if they're really nice custom cabinets, which I get a lot for, kit for custom cabinets, I pay about 2,700.

Okay. But this is just really a really good site to give an estimate. And I hope y' all are writing this down.

Because this is good information just from this one little old bitty site.

Right? And. And the site is remodeling calculator.org and all that I did for everybody that's first coming.

Like I said, my family does a lot of my remodeling family and friends, so I don't pay a lot. But if you don't have that luxury and you want a good cost estimate, Google is your friend. Go to Google, type in cost to rehab a house 2020. And you can even get more specific and say, cost to rehab a house.

In Houston.

20.

Okay, so let's see if they're okay. So Blob Sweeten has some information on Houston. And then you just go down the line and see who. Who has information specifically on your.

Let's look at this one. Home addition, cost and prices.

This is saying that it ranges.

$75 a square foot. And.

This is 2017. And this is saying the national average was 20,000, maximum 40 minimum cost. Let's check on this. I hate it. I got something on my computer that makes it redirect.

Now, where was I? Quickly.

This is 2007. And I mean 2017. I'm going to go back and show you.

How to get rid of that and how to actually go to 2020.

But this gives percentages, and that's really not bad. I mean, this is talking about Houston. The average kitchen remodel in Houston is 20,000. While that may seem high, we've seen kitchen renovations in Houston cost as little as 9,000. And what did I say? You know, if I'm gutting a kitchen out and I still want to make it nice, I'm paying. Yeah, I mean, that's. That's about right. On the flip side, if it's in River Oaks, which is the most beautiful area in Houston, it's going to cost way, way more than that. So I don't know about your city, but this. This information is still correct. And what I love about this, as I'm going through it, is they are giving you a price per square foot. So you can. So listen, let me explain to you how to. How to do footage, how to calculate footage, square footage, using your own feet. So I wear a size eight. Three more inches, it would be a 12. So I'm going to step out three inches, and that'll be my foot. So I started one wall. Step out three inches from my.

Foot, and then keep counting. So that's 1, 2, 3, 4, 5, 6, 7ft. You understand? Oh, I hope y' all got that, because that way I'll know, you know, some of the calculations when you go to HCAD or when you go to MLS or whatever aren't right about the measurements of the room. Use your feet. That's what you have on you. If you wear a size eight, add what you need, 12ft. So kind of step out four inches. That's. That's 12 inches is a foot. So I probably said that wrong. Let me go back. I wear a size 8. I need to step out 4 inches. Wait a minute. Yeah, 4 inches. 8, 19, 11, 12. Yeah, 4 inches. I need to step out 4inches, and that will be a foot. And I start at the wall and step out. There are also things that you can get at. There's a laser that you can get that's really inexpensive. Pardon me, at Home Depot. And you can put the laser on one wall and then broadcast it to the other wall to get the square footage of the room. So, like I said, what I love about this improve.net is.

It gives you the square footage so you can really figure out a custom tile floor. You know, vinyl floors, laminate floors, how much you're going to pay based on your specific job.

Tells you about cabinets, countertops per square foot. You know, this is pretty good. So.

Common Houston kitchen renovation projects. Installing a sink.

This go scratch and dent sinks.

Your contractor, if you're flipping a house. They don't need to buy all of your materials. You can get scratch and dent stuff because they mark that stuff up if they have to buy it. So you can have all of your materials and, you know, they can't add that into their cost. Buy as much as you really need to, to be honest with you. Okay.

You are so welcome, Syretha. Anybody have any questions so far?

Please like this video.

Please give me some likes.

Dang, we've been on here 31 minutes already. That's crazy. But I'm excited. I'm happy. I'm glad to be doing this for y'. All. But I do like that.

You know, as I stated before, the cost of rehab, all you got to do is Google it. Because what I'm finding is that this is a whole lot more accurate than it was when I first started. Because it was ridiculous, the prices that were on here when I first started doing this, this when I first started rehabbing houses. But to get an estimate of repairs.

Go back through this video and look at it, because I gave you some really, really good repair estimates and put Home Advisor Home Guide was the one that we went to. And it gives you a whole bunch of really, really good information, and it's pretty accurate. It'll get you in a very good ballpark. But if you have family, you are blessed, because family has saved my Life more than 99 times.

And I know that they are so sick of me, honey.

But my uncles, baby, they come down, come through, they be looking crazy, but you just get them up, get them a six pack, and let them go to work. That's how it is. That is the best thing in the world. So a few tips on rehab.

I have a sheet. I hope somebody DMs me and reminds me, because, man, I do these videos and then I get sleepy. And that's why I try to upload the stuff that I'm saying as soon as I do it. But I have a sheet that I use a spreadsheet that I print out and I give to my contractors or whatever guy is going out to the house so that he can let me know exactly what.

Exactly what repairs are needed and a cost for it. Because I want stuff my way, you know, I want it my way. I want you to do it, and I want to understand it. And I have it structured where he can quickly write it in. I even give my uncles and my cousins and everybody else I know, I give them the clipboard with a pen in it and my document, they Ready? Okay. And I normally go with them. And especially in the beginning when I didn't know what I was doing because I want them, they. They just teach me. Just by going through it, I'm seeing them bouncing up and down on the floor, and I'm like, what are you doing? They're like, hey, come walk here. You feel that? That's foundation. So you learn a lot by going out there and meeting your contractors. That scratch and dense stuff. Golden. Golden. Also.

If you are doing more than one house, you, you know, there are builder supply stores that can get to know you and give you a line of credit. You can get a line of credit even at Lowe's or Home Depot. Get a Lowe's or Home Depot card so that you are not paying up front for these materials. Plus, you get a discount when you join Home Depot and Lowe's little clubs. So you get a discount on bulk items. So say, for instance, you have to replace shingles. Buy that stuff. Rental u haul if you need to, and get all of that stuff. Now let me tell you what happened to me. I had a house in the hood in Third Ward, which is a rough area. And.

You know, I have my supplies inside the house. And these guys that tried to break in that house did not know that my uncle's workers were living in that house. Right? They. It was one. It was maybe one or two guys that they stayed. Some. One somebody had their. Had gotten into it with their wife and asked me could they stay in the house. And I was like, absolutely. Do you need for me to buy you a bed? I, you know, I turned the. The water on, I turned the lights on. I had everything on. I was trying to make him as comfortable as possible.

And he stayed in the house and would actually work most of the time he was there. You know, so I got a lot of other stuff done, but I was so gracious because he was there. One night, somebody tried to come in the house. They didn't know he was there. Robbery was averted. With all my good materials in that house, I had shingles. I had all kinds of stuff. And so my uncle knew it, and so he. He was the one that mentioned we need somebody to stay here because these such and such gonna break in here. So.

Moral of the story is, if you don't have somebody staying in that house, one of my friends who I went to college with put an alarm in the attic. So when that alarm went off and the attic had these little slits, there was a, you know, I don't know what it's called. It's this breathable thing so that the attic can breathe and not absorb moisture. And so he put the alarm in the attic. If that door opened and that alarm went off, we woke up the whole dad gum block, baby. Everybody getting up. Dopings was running from here to there. No, no, no, no, no, no, no. Don't come in here. And I got on a loudspeaker because I'm, you know, I'm nice on here and I'm semi professional, but I'm ignorant in real life. So I got on a loudspeaker, a megaphone in my attic to let them know, don't come back in my house. You either gonna get shot, the police come are coming, or something is not. Something not good is gonna happen to you. And that can, that was broadcast throughout the whole. I'm talking about that. People will laugh. People still mention that today that they heard me on the megaphone in third ward at my house. I was knocked plan. So megaphone and I mean, you know, alarm in the attic, the whole neighborhood. Everybody wake up. Now, if anybody is trying to get in the house and all that noise, of course they're gonna run. Who's gonna stay there? They don't know if the cops are coming or what, but just that real loud, crazy noise is going to deter them from doing anything. Okay, so.

That'S my ghetto moment. Let me think. What else?

Ah.

Yard repair. You can do a whole bunch of yard repair, right? Yards are awesome. If you're doing yard repair in the hood, your trees and beautiful bushes will get stolen. Didn't know that when I first started out, I didn't know a bush was that valuable, but it's costly. I mean, I bought these beautiful pom pom bushes. And I don't know if y' all know what a pom pom bush is, but it was gorgeous. And I fell in love with it. And I know I paid a good 50 to 75 dollars. And baby, it didn't last through the evening when I left, gone. They stole both of my beautiful bushes. And, boy, my feelings were hurt. Don't do it, okay? Keep it easy. Be light.

Don't do it. Even a brand new tree, they'll steal your new tree. So just be easy with what you buy. Buy stuff that, you know, buy the little plants, this, you know, the date. I almost said something that I'm not supposed to say on YouTube. But they stole my good little bitty plant. I mean, they were still everything. So wait until your homeowner moves in dog on there and the house is sold and let them know that you. That you have those items and you can install them. But don't install the yard stuff, the beautiful landscaping, until the person is really about to move into the home and people are in and out, because folks will steal it if they know that you're just rehabbing it. Okay. Does that make sense, everyone?

Hopefully. So anybody have any questions?

Okay, I don't see any questions. I wanted to go through a few deals with you guys. Not sure if. If anybody has a deal that they want me to go through. If you do, please raise your hand. Hey, Sarah, Monique, Jackie.

Love is loved is away. I think that's it. D. Bell.

Diamond 83, Libby. I'm glad y' all are here. Thank you, Sarita. I'm so glad that y' all are here. I'm looking down the line, so thank you. How much, Jackie? So another thing that I wanted to discuss with y' all is.

Again, if you have a project that you want me to take a look at, please do not hesitate to put it in the comments so that I can look at it.

And see what you are talking about.

And I'm looking here to see if anyone has questions.

I'm just trying to see because I know Facebook gets so wonky. It is just irritating to me. You would really, really think that it would be better, but it's not. So I'm just gonna work with what we have. So regarding mentorship, I have been thinking about this night and day since I started doing this. And like I said, you know, my heart, I promise you, is to help people.

And I did this this week to.

Yeah, I can speak about auction deals. I did this this week to make sure that people understood how to get started. Because I see so many people tripping up and making mistakes, and I wanted to help out, and that was my whole reason for doing this. And then I started thinking the other day, man, but, you know, people really need for you to look at their own deals, even though nobody came for me to look at their deals. So I might be all right without doing that.

But, you know, that was where my heart was, was to come and, you know, try to help y' all as much as possible. So I started thinking, do I do this once a week? How can I help? How can I give back to people? And.

You know, I don't know. I'm still thinking about that. So if you have any recommendations for me or on what I can do my hair doing something weird, y'. All. But anyway, if you have any Recommendations on how I could further support you by coming on here once a week and doing a live like I do for my notary stuff. Then let me know and help me to brainstorm this because, you know, I believe, like I said when I first started doing this, there's more than enough money in the universe. Just like God made enough air, enough water, enough of the natural resources that we have, he makes enough money too. So I don't believe that that is an issue. Regarding my personal mentorship, I've been thinking about that too because I've gotten some responses from people who are interested in my mentorship.

And let me tell you about that. So I only take on 10, five to 10 people every year.

Last year it was just.

Five. This year I'm thinking it's going to be 10 because I keep on adding people and I don't really mean to do that. But I know that there's about to be a transfer of wealth and I'm going to bring a few people with me on this, on this journey. So I, I'm not scared to do that. I can't bring everybody because I'm the mentor that holds you by your hand. I'm walking the closings with you, I'm walking your deals and looking at with you. So I'm very, very close about allowing a whole bunch of people. So I'm mentoring 10. My cousin is mentoring Aisha, who you saw last night. She's super knowledgeable too. You can make her, you know, stop talking fast, but she is like, I mean, that's a, that's a super smart lady, trust me. And we generally like, we do be a lot of businesses together.

Mainly all of our businesses we do together, but we swap based on our specialties. So you'll get a taste of me and you'll get a taste of her. You know what I'm saying? She'll talk to you. And when, when you're with her, I'm with her too. So you really have both of us. So in all, it's about 20 people. But my responsibility is for 10 and her responsibility is for 10. And she's really good at looking through deals and doing all of that and everything else. So.

Some people have been talking about the pricing and you know, my price.

Is 2,500 to 5,000. Tell you a story about this.

In 2008, when the market crashed, I lost everything.

Everything.

I moved back in my mother's house from having my own 5,700 square foot house. I had a Bentley. I had everything, you know, I was. My. Me and my child's father broke up. He moved to Dallas.

The restaurants closed, law office closed. We had foreclosures. I. I was in a lawsuit. All kinds of hell broke loose. And guess what? I was pregnant. So I moved back to my mother's house with a pair of underwear. Well, I'm sorry. I'm sorry. I couldn't afford a pair of underwear.

I wasn't working because I was doing real estate full time. And then it was just so stressful. And so during that time, I had a herniated disc with Madison, and she kicked it for nine months, 10 months, she kicked it. And so I was in excruciating pain.

And when Madison was. I got a job.

At the Light Company when Madison was.

Five to six months old.

She was born in May of 2007. I got a job in November of 2007. Right? So I'm thinking, okay, you know, once you've done a lot of stuff, you have to.

You just been. You're never the same. Once you experience this, once you experience making $30,000 from one house, you're never the same. You can't sit in somebody's job for $35 an hour or less and be all right. When you know that your potential.

Is to make your whole salary in 30 days, you're not. You're not the same. You're not the same person. So I started working, you know, immediately to figure out how to rebuild my wealth, rebuild my credit, rebuild my brain, man. Because I stayed in mommy brain for the longest. I. People make fun of me, saying I breastfed Madison until she was three. She was actually two. But I didn't. You know, I had mommy brain that whole time. Excuse me. I don't know if I went through postpartum depression or not, but I went through something and I didn't get right for a while. Telling y' all this to say that when I started working, I figured it out. I figured it out. I got in a mentorship program. I used a portion of my 401k to get in. And I haven't done this just one time. I've done this several, several times. Paying shoes, to be honest with you. I'm in a mentorship program right now for another business that I'm working on, drop shipping, and I paid $9,000 for that. Did I have it like that? You know, I had. I had my tax money and some more savings, but I definitely didn't want to use it on that. But one thing that I know for sure, with me and mentorship. And I. And this don't. This doesn't have anything to do with me being your mentor. I'm giving you this game for any mentor that you decide to use.

I know I'm gonna do the work, but most mentors want their money up front with no guarantees. I want to know that, you know, what do you. What are you putting in the deal? Number one, are you gonna walk me hand in hand? Number two, can we have it in writing what this is going to look like for both of us? Are my expectations going to be met? And can you meet those expectations? Right. And what guarantees are you giving me? Now? I could tell you up front, I cannot guarantee that you will get a house. I can't, because that's work that you have to do. That depends on your consistency. That depends on the market. That depends on a whole bunch of stuff that don't have nothing to do with me. I can give you the information and I can walk you through your deals, and that's what I do. There is no time limit on my mentorship because I have people from 10 years ago still calling me saying, Ms. TJ, look at this deal for me. And I just do it because, you know, I. I'm crazy. I fall in love with people, and then they become family. And, yeah, I mean, I guess I'm your mentor for life. So regarding pricing, I'm just saying I figured out a way. I've taken out PayPal loans, 401k loans, lines of credit. My credit wasn't always great, but I was able to take out a 401k loan. And working on that credit is really, really important. If real estate is something that you want to do, you can definitely use.

Hard money. Hard money is a good deal.

Like I said yesterday regarding mentorship, if you bring someone a deal, then more than likely they're going to work with you, more than likely, if it's a deal. So I gave you a checklist. Start looking for deals and bring it to the person that you want to mentor you and let them walk you through it. And if they don't, man, just contact me. We'll try to work it out. We'll try to figure it out. We'll try to figure it out.

Someone wanted me to talk about auction deals. So if you go to the auction for foreclosure or tax auctions, you.

Pay cash at the auction for the deal, right? So if there is a house on the auction for $40,000 in, you pay $40,000 in a cashier's check. People come with like briefcases handcuffed to their arms with a briefcase full of money. And I'm not exaggerating.

You know, I've never come with a. A briefcase full of money, but I've come with a cashier check. So you have to have cash to do that.

I recommend that you do for every deal, do your own title search. I don't care how bootleg it is. Do a search for liens on the property. Google it. Find out how to do a title search on your properties to make sure that there are no liens that can pop up with you. A lady contacted me from Ohio and stated that in Ohio it is not law that the title company lets you know every lien that's on the property. In Texas it is. They have to. If there's a lien found and they miss it, they have to reimburse you for it or do something. They gotta. They gotta fix it. But in Ohio it isn't. So in your state, make sure that you look up your property and figure out how to search for liens on the property. Propstream does a pretty good job of finding some liens, but search, go. Just do a Google search. Google is your friend. Do.

Do title search. How to perform a title search and whatever your state is. Okay. Alrighty, Daddy. Anybody have any questions? Comments?

My old house was. The old house that I fixed up was. What you talking about? $500,000, love. This way. What did I say about $500,000? I had a home that I lived in that was 5,700 square feet. And my old house that I renovated, one of them that was in third ward that the doping broke into was about 1700 square feet.

But let me know what exactly you're talking about because I'm not sure the 5,000. I don't know if I said 5,000 or not.

Does anyone have any questions? I hope I answered your question on the auction. If I didn't answer your question fully on the auction. Please be more specific.

Please be more specific about it. What I do love about the auction and tax lien certificates in general, buying tax liens is that you are buying the deed to the house and you actually own the house. In Texas, there is a two year right of redemption. Right of redemption means that the homeowner can come back and claim their property within two years if it's their homestead. Homestead means this is primary residence. And for tax purposes, I'm using it as a homestead.

So.

Okay, Monique, So.

For tax. I'm sorry, for tax lien purposes, I lost my whole thought looking at them doggone comments. Damn. What was I saying? Oh, it was good.

Oh, so you own the deed for tax lien properties. The regular right of redemption in Texas for non homesteaded properties is six months. So when you buy it, that right of redemption means that they have six months to come back and pay you whatever you paid for the property. Say, for instance, you paid $500 for the tax lien. Well, they'll owe you the $500 plus 18%, which is the amount of interest that. That you can charge on tax liens legally in Texas. They owe you that money, and then they can get their house back. A lot of times they don't do that, but they have that right of redemption. So find out. Google, what is the right of redemption in your state.

Okay.

All right.

Adjudged value.

A judge value.

Oh, so. So you. You found this, Monique, on a site.

So Let me get it. 45, 47, 15 Brookline.

Oh, let me show y' all what I'm doing. I'm sorry, my bad, my bad.

Do y' all see my screen? Let me know.

I'm doing.

Why is this doing this?

Okay, I'm having to go back to YouTube, too. I'm gonna get to you in one second. Let me try to. Because I have. When I click off of the screen, the thing that I don't like about this platform is that I can't see myself and I can't see the questions. So.

I have an alarm set. So for to do list items. I'm sorry, y'. All, I got all kind of stuff. Look, I am not a filmmaker. I'm just trying to help, okay? So please don't give me a negative remark on YouTube because I got alarms going off and I'm talking about dope things and just all kind of stuff. We're going to prop stream now, P-R-O-P S T R-A M.com to look at Monique's deal.

And see what's going on.

Monique, let me know, is that a foreclosure or is that for taxes? What is that? What is that deal about? Where did you find it? And let me see the.

4715. Brookline.

4715. We are okay.

L, A W N. There we are.

Okay, so let me see where this is. Why did you do that? Oh, it's on the north side, outside the beltway at 45.

Oh, okay. Not far from Veterans Memorial. I lived over in that area at one time. Okay, Cool beans. Okay. So let's look at the details. Wow. So this is saying that this house has an estimated equity of 200,000.

We're gonna see.

Monique, let me know if I have this address. Right. Let me see. Because that's a whole bunch of equity based on what you said of a judge value of 143. So that 143,000 must be maybe the mortgage or the. What it was mortgaged for. And they're just trying to figure out, okay, Harris county delinquent tax sale. Gotcha. So they have $143,000 in taxes.

If you got $5,000, you need to take it down there and go bid on this one. I could tell you that without even looking at the doggone house. I mean, at the least you'll get.

At the very, very least, you'll get your money back plus 18 on your money. And you can't get that in the stock market. The good thing about investing in tax liens is that you can go in there with $1,000 and still win. Like, you can get into real estate investing today and still be good.

So this says the estimated value of is 2,200,000.

Last prior sale, they paid 69,000 for it.

Average sale for the comparables looks like is 195.

The monthly rent in that area, if you were to use it as a rental is 1700. That's crazy. Especially if you get it for nothing.

You can look this guy up before the tax lien auction and work something out with him to pay it and see if he wants to sell it to you. And you pay down those taxes and give him. Let me see. Is it owner occupied? So this says it is owner occupied.

He's owned it for 22 years.

No short sale. Say whether it's vacant or not. And it's not on the market. Hopefully y' all can understand everything that I'm looking for when I look on here.

Okay. Pretty big house, right? 2400 square feet.

And I'm wondering what happened because this is saying that the last sale date was just this year. And this is the guy who bought it. This cure quake. So I don't. Oh, okay. Inter family transfer dissolution. So somebody may have died. A divorce or something like that. And it was within the family. But this is still a whole bunch of back taxes. Really may be a good one to contact this dude. Nobody steal this girl. Deal. There's plenty of them. Plenty of them. Look on your own. She just gave you information on where to go. Look in the comments. So look at that arms Length. Last transit Jack. Yeah, last transaction. This is the amount.

Okay. Let's look at a few more things.

Tax information.

You can go to HCAD and really figure out how much they owe in back taxes. We'll do that as well. Let's look at the comps. They already pretty much told us what they are.

But if you're getting this. Yeah, it's in the 200,000. If you get it for. For less than shoes. Ain't nobody gonna get all the deals because people are waiting anxiously for these foreclosure auctions to come back on online. I would call him though. I don't think I would wait for the auction. I would do a skip trace and call this guy. All of these are intra intra family transfers on this property. So somebody died and the family is not paying the dagum taxes. He don't want it. Or he probably cannot afford to pay those taxes. $143,000 in taxes. That's a lie. So, so another thing that I'm going to look at. Wait a minute, let me go back over here. I'm going to copy this address. I do this every single time I'm a copy this address. I'm going to Google this house because Google is your friend. Google everything. Okay, I'm going to go on hard because I really want to see pictures of the house and I want to see pictures of.

I want to see pictures of the inside of the house. So that's what I'm going to look for.

And I also want to look at current valuations here. These are sometimes the current valuation of this house may be right. That's probably, you know the value of the house without putting any work into it. So this is, this is good information. If you're looking for an approximation of the value of a house, go to har or go to, you know, Google it and try to figure and try to find out what is the. What is Zillow stand. The estimate is.

Z estimate 184,000 is basically the same. That's a pretty nice house. It looks a little bit older, but hey, older houses sell very well. So I'm trying to find something that has some older pictures on it.

Because sometimes you can catch stuff where you can see the inside of the house. This ain't gonna happen.

So this is the house.

And I guess I'm not gonna bore y' all by going through every single little detail trying to find pictures, but I guarantee you I'd find some daggum pictures somewhere in here of what that house looks like. On the inside, just to give me an idea. I'm just nosy. I want to know because it makes me feel like I'm walking through there. And so I have access to.

Various tools based on, you know, my best. One of my best friends in the whole world is an agent. My cousin is an agent. So.

When Aisha is around, I can get on her and actually look on her. When Keisha's around, I can look on her and. And use their account to get on there and take a look on the back end at what real estate agents do. So if you have those resources, please use them. Family, friends, cousins, best friends, whoever. I wanted to go to Gold Knock as well.

And again, these are people who I know, man. There's nothing they can't ask me for.

So those people get the shirt off my back and vice versa.

Okay, I just want to see. Let me see if this can get bigger. It didn't. Okay, so square year, build in 84.

They normally have property information that this is vacant. Girl, you need to find that guy.

You need to find him. It's vacant. So here, you can do a skip trace. Prop string, you can do a skip trace. Let's copy his name real quick. You saw Propstream didn't say this property was vacant. I go to white pages.com when I want to do. I mean, it's $5 a month. And this is how I find people that just don't want to be found.

And I might have used up all my good credits. But we don't see because I've been looking a looking little lady.

And this is 77066.

See what you come up with. Bam. 48 years old. Let's see. Let's go to Go Knock. Because one good thing about go knock, it's 45amonth. And these tools can become expensive, and I told y' all that. So here's another deal that I want you to think about. If you are interested in getting Prop Stream. Prop Stream costs a hundred dollars a month. Go, not cost 45. Contact me via DM. I can get it to you for 35 to $40. I'm gonna do 35. I can get you prop stream for $35. So. But I need, like, how many people. I need about at least 10 people in order to do that. So if you're interested and you know somebody else who's interested in getting prop stream 35amonth versus 99, call me, call me. Well, DM me. I give everybody my number. That's why I'll be Saying, call me.

Just as crazy.

Okay? So they don't have any information, any demographics on him, because I was trying to find some. Some demographics on him because I wanted to see his age. That way, when I go to white pages, I'll know whether he's in the 48.

Age 48 range. But I bet you this is him, y'. All. I bet you this is him, him and his father. And they live in California, so they ain't worried about no that house. This is a good one to call. So let's look at the details.

Now. This stuff excites me. Do you see how freaking excited I got?

So they're saying this is his home. Currently. Here are his mobile numbers, land numbers.

You know, it tells you the type of phone, the carrier, the landline, all kinds of information.

It even tells you who he was related to that may have died.

You can even see more addresses. And this is where you normally see how he's associated with that house.

Or if he's associated with that house. And we're about to do a search for that address as well. But I want to go to this other guy real quick.

Ah, you're doing too much.

Okay? I want to go to him. He's in Bakersfield.

And there aren't any numbers for him. This guy's probably dead. But I want to see does that address pop up and it doesn't. So let's do a reverse address. Look up. Back on.

Control C.

Control V.

Okay.

This is saying some bandits, but the Bandas don't own that property. So they may have had it rented out to people. And here is this Kuwait Camure.

That's who owns it. That's about right. Regarding his age.

And that's probably who you need to look for. Let's view his details again.

Dad gone. I ran out of credit. But you get it. You understand what I'm saying? So now I gotta pay for these algone credits. I ain't ready to do that right now, y'. All. So that's the end of that. But did that help?

Okay. And I redo it and get. But yes, Dwight, you can redo it and good. And get a. Get the deal. Get the 35 deal. I want everybody to.

Yeah, absolutely. Anybody contact me, because.

This is good.

This is good.

Okay, Srita asked. So with tax liens, you have to wait two years before you can sell it. You are understanding that correctly. If it is a homesteaded property, you cannot sell it. If it's a homestead, but you can. Dad gum show rent it out and renting it out. People don't be caring, man. I mean, especially if you rent it out under market value. Like that house. That said you could rent it out for 1700amonth. Say you rent it out for. You buying it for. Shoot, anywhere from 5,000 probably. I. I'm thinking at the auction, it's not going to go for the full 143,000. Somebody can walk in there with fifty thousand dollar cash and wipe everybody else out. You can even go in with $60,000 and wipe the whole room out. So you just have a house. You can rent that house out. You now own the deed. And if you rent it out, you pay 60,000 for it.

You can rent it out per month for even 12.

Even 1200. But again, you own the deed. So you own that house, but it's tying up your cash for two years. I don't like to tie cash up that long. That's just me. Fresh paint. Then rent, absolutely.

Die. You just thought about. I just need you to show me that another hundred times. I get it, girl. We can go through it on every deal. You could look at this, relook at this video 29 times too. Because I start getting excited and going fast. Like. Aisha, I know, I know. Please. Like this video. If this is good information for you. I just got so overly excited about your deal, Monique, because that is a good one. So I have prop stream, I have Go Knock and then I have REI Pro.

And I keep forgetting it is my reipro.com.

And I'll see if I can get us a good deal on all of these. So check back because I'm not real sure.

Hirsch.

Lead Pro.

How do I do this?

This one is new to me. I just got this one. I don't think that I can put in.

A property address, but I can put in the zip code.

Y' all are welcome.

Y' all are welcome. I have a good heart, y'. All. I really.

These ain't just. This ain't just stuff. I'm saying that. Gum. How can I get this in a list for. Oh, okay.

Dang on it, boy. When you get 45, baby, your mind. I couldn't remember that address. Okay, 4715. I'm gonna do this. 4715. No. Why for?

Why not?

They're saying that it's not vacant, I guess. Okay, let me do this again. Brookline.

And all I did was control V for y'. All. Okay, so let me. Let me just.

Go down this real quick and see if I see.

No, I Don't.

Okay.

Oh, maybe I can do quick lookup. Aha. See, I'm learning this because this is. This is a tool that one of my homeboys has. And I've given him credit to my. I mean, access to my stuff. Corey, the guy that was on here Tuesday, so we switched tools. So I give him.

My stuff, access to my tools, and he gave me access to this. So I don't know what I'm doing. Long story short. Hello?

Hello? You ain't gonna do nothing, huh? Okay, let me see.

Start your search.

Hey, that was a lie, wasn't it? It's just honoring. Okay, it still says the same thing. Potential value is 200 and something. Thousand.

Owned outright. No pull. It's in Kleinbrook. So subdivision central AC and heating.

You can go directly from here to Zillow. Oh wow. They give mortgage information here. Who in the world is that? Now this is a name that didn't pop up on prop stream this Palma. Let's go back. Maybe I missed it. Oh, okay, so this is these too. People in the family, the buyers. So it may be a son and daughter or something like that. Okay, so they did my bad because they didn't mention the commute person.

So it threw me off a little bit.

Annual taxes are 4,000 a year. Not bad.

They did a quick claim deed.

Okay, so this isn't a bad. You know, I don't know how much this cost. I can't remember. But this isn't bad either.

But I still kind of. I don't know. I've been using propstream for so long, I like it. Let me see what yalls questions are. Was that prop stick stream skip trace he was using?

No, When I looked at the address and started looking that guy up, I was on what's called white pages.com.

And it's $20 a month or I think a hundred and some odd searches. However.

Corey, if you have a list of. A list that you need to get addresses and phone numbers and email addresses on, Corey can get that done. He charged me 25 this week for a whole list of over a hundred and something.

People for apartment complexes. Because I'm about to start back going through apartment complexes and looking those owners up. Boy, it's ugly outside. And it was 25 bucks. So let me know if you're interested in that and I'll let you.

I'll let you know. Do you have a script per se for when you contact a person after. Oh, that's a good one. So I do. I have a script that I Give to people that I mentor.

I'll look at hcad, too, for you. But hold on. The script portion. I have a script that I give to people that I mentor. I'm trying to find out. Okay, I'm gonna have to go to Get Away and tell you what I would say.

Hey, Mr. Kamoro, remember his last name? Hold on.

Let me get the man's last name. He want. Oh, Lord, they got it spelled 29 different ways. Coant.

Anyway, I'm gonna mess his name up and I'm gonna say, hi, Mr. Kawant, my name is Latonya Johnson, and I'm calling about your house. That is at 4715 Brookline. And I wanted to know if you're interested in. In selling that house. I saw that it was vacant, and I'm interested in giving you an offer to buy it. And he's either gonna hang up in my face and say, no, I ain't interested, and.

Or he's gonna say, yeah, what's your offer? And everybody, I don't care if they do. I don't care if it is in foreclosure. They still want something out of it until it goes to the auction. They're still going to want something, and they should actually get something. I mean, no, they didn't pay the taxes, but if you can, you know, I'm nice, because if I feel like if you can give people something and you have over a hundred thousand dollars worth of equity, don't give them people something, you know, so.

And if you get it from him, do a hard money loan, pay off those taxes, and you ain't coming out of your pocket with no, give that man something.

Now that's. That's a word that'll preach like. So you give him 10 to $20,000. Maybe I haven't calculated that, so don't quote me on it, but give him something to walk off with, and he doesn't have to pay anything for closing costs, and more than likely he'll let go of that house, you know.

And if he does hang up and say no, then, you know, you have his text number. You can text him.

An offer.

Let him know, hey, I know that there are back taxes. You know what? Start the conversation off with, hi, Mr. Kimora, my name is Latonya. I want to help you pay your taxes on 4715 Brookline. Bang. That will get my attention. You want to help me pay my back taxes? Yes, sir. I want to help you pay your back taxes.

Now, how will you do that? So I have two different ways of doing it from Latonya Cherie Johnson's standpoint, and we can talk about that, but I open the door to that conversation. And so.

That'S what I recommend you do. And then a mentor will come in and help you devise that conversation because so for Latonya Cherie Johnson, I know a company called Ovations that where they. Where he can actually get a loan.

To pay those back taxes if that's what he wants, which I don't think that's what he wants, but he can get a loan to pay those back taxes. Another thing, you can just, you know, I'll pay those back taxes by buying the house from you, and I'll give you a portion of the proceeds from buying the house so you don't lose all of your equity. And you always make it in the best interest of them because it genuinely needs to be in the best interest of them. Okay, so.

Let'S go to hcad.

Property search.

Let's do it by owner's name, last name, k, u, l, w a n t.

We are going to do 2019.

I don't know that B name.

That's not ringing a bell to me. So.

Yeah, that B name is not ringing a bell. And then this looks like it's.

A trust in an apartment complex.

So I'm going to search by address.

I think it was 4817.

Oh, I was so wrong. 4715 Latony. Jesus.

You don't need drive or any of that.

Let's do 2018 and search. Maybe it'll give us something. Then we'll come back to 2019. Okay, we're in the money.

So this is pretty interesting because we searched for 4715 Brookline, and this says that they live. Their mailing address is 45 Klein Way, which is in the same zip code. That's interesting. So they may actually be in Houston. So then, dang, then I'd go to white pages and I would search for this, 4519 Kleinway, and try to.

Find that information. And I might even drive over there and knock on the door.

Oh, similar owner name. Seeing how many properties they own. Just knows it, y'. All.

Okay. Nothing really came up for that.

Okay, so I gotta be that nosy. I can just keep going.

Oh, this is the appraised value based on the taxes. That's where that 143 came from. So that's not how much they owe in VAT taxes, which is a good.

A Good indication. That gum. I know I ain't been on here in a long time. I'm trying to find out.

There was a thing on here to pay taxes.

Hold on. Give me a minute.

H.

It used to be right on this screen where you could click and pay taxes.

Let me go to 2019 real quick.

I could be. Because I'm online. I can't see clearly. Oh, here it is. Online tax bill view. This is it.

Okay, you are now leaving. So which one do I want to go to? Hopefully it shows me the whole thing.

Interesting. They cut that information off. You do not have permission to view this directory or page. You used to.

Let me click another link.

That says your tax statement is.

So let me go to another year. They said that the tax statement is unavailable. I'm gonna go to 2017. I'm gonna do a search from there.

There is no tax bill.

I'm going to do 2018.

So as you can see, you're just piddling around. Pretty much. There is no tax bill on 2018.

And then 2019 said that.

2019. The tax assessor's office.

Said that.

Klein isd, Harris County.

So look, this said that the statement is currently unavailable, pending certification review. Whatever in the heck that means. So.

You really don't.

It's raining bad in these streets. Let's get the dickens out of me.

Phew.

Here comes Madison. I know that's right, girl. Shoot. This scared me, but okay.

That'S it, Monique. Let me wrap it up. My grandmother used to say, it's too many lights on. Y' all get somewhere and sit down and thundering and lightning. I'm from Texas, so gotta go.

I'm silly. God bless y'. All. Hope y' all got a lot out of this. I hope I answered the questions for you. All that you had. I've enjoyed this. This is awesome, awesome, awesome. Monique, if you need more information or help with this, give me a call and we'll walk through some more things. If you have any questions, don't hesitate. I keep saying, give me a call. Dm direct message me or get in contact with me on Facebook. That's. That seems like the easiest way on the Millennial Master Class Facebook page.

So, yeah, get in touch with me and we'll talk about it. I know Laura is back.

Shalom. Are you playing?

I gotta look at the news, y'. All. I don't even look at the news. My eyes just got big. Lord hammer. Okay. My grandmother, I can hear her voice saying, you need to get off that phone. Get off the Internet. Turn the TV off. Get somewhere and sit down.

All right. God bless y'. All. Y' all have a good one. Stay safe. Love you guys. I'm rooting for you.