BUYING HOUSES | WHOLESALING REAL ESTATE

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Now you're live.

Working.

Hello?

Hello? Alright, cool. How do I—

What's up? There we go. What's up?

Yeah, bro, we're trying to get this thing working. What's up, Eli? How are we? Yo, check this out, bro. Look at this. You get to see everything now. You get to see what we're fucking doing over here. You like this?

It's a white box.

I don't know.

Yeah, the white box is on it. What's up, Eli? How are you, bro? All right, we're, uh, trying to figure out this YouTube Live stuff right now. Let's see, we're gonna— then we're gonna make some calls. But is this— is this gonna be recording? Like, are we gonna be able to access this?

You can start recording too.

Oh, right here?

Yeah.

Okay, um, but my question is, is it's gonna record all of this. Are we gonna be able to turn this into— like, I'm trying to think of what's the best way that we're gonna be able to turn into short-form content, you know? Yeah, because like, like, for— because like my entire screen obviously is not gonna— like, that's why I'm wondering where my camera needs to be, because it's almost like my camera— like, we need to have a view of just you. Well, no, but I'm saying like we have that. Like, I can just switch to the face cam, it's just me right here. Then I can have this on this one, I'm just like talking to somebody, but I'm saying is we need to figure out some kind of like setting on here on Streamlabs because I know when I had access to TikTok Studio, it automatically made it to where it's like the—

oh, vertical.

Yeah.

Oh no, that's fine. I can edit that. Like, I can, uh, just clip you to where you're in the middle.

Yeah, but I'm saying, but like, where should— but like, if they're doing that on TikTok, then it's just gonna have me in the middle. Like, you see what I'm saying? And then it's just gonna be like this, and that's all they're gonna be looking at besides And I guess we can have like captions and stuff on there. And then if I pull up the calculator, like, will you be able to move over and get all this stuff?

We could do landscape videos on TikTok too, but I don't know if that's something you want to do.

I don't— I mean, I'm just trying to figure it out.

Um, well, for today I think it's fine when I just— if I just like take clips of you talking.

Yeah.

Um, I'll do more research tonight. I'll see if We can— all right, well, we'll start with this, kind of like RJ, right, where he has his face up top.

Yeah, yeah, yeah, yeah.

Okay, buying houses. Yeah, it shows up as a YouTube notification too.

Yeah, I got that, I got the— and then, um, how do I share this though? I want to like share the stream right now with Like on— I want to put like a link on—

are you on your YouTube?

View stream in web browser.

There we go.

Share, copy. Let me email this to myself. All right.

That's—

this is the downside of not having a Mac, is I can't just fucking copy and paste.

Let's see here.

You can end the stream and start it again, or you're just gonna run with this one?

Probably just run with it.

All right, good.

All right. Wait, what the fuck? All right, cool. All right, let's make some calls. That's what's most important. We get some footage.

All right, let's make sure this works.

Do you have it open so you can hear if—

Your call has been forwarded to automated voice messaging system. 2-1-0-8-5-0-8-0.

Blank space on the screen.

Oh no.

Hello?

Hello, Carlos? Yeah, hey Carlos, this is Tyson. I believe you filled out some information on my website about a property you might be interested in selling over on Copper Crossing.

Yes.

You still looking to sell that property?

Yes, we are.

Awesome. Well, I'd be interested in making an offer. Can you tell me a little bit about it?

So we purchased a home brand new 2 years ago. Yeah. And what is this, 2020? And then the only reason we're looking to sell is IPS. I'm supposed to report on the 11th of January. So we're just relocating.

I'm sorry, you're what?

I'm moving. I'm active duty military.

Oh, gotcha.

And then that's the only reason why we're looking to sell, to be quite honest.

Okay, uh, how soon do you need to— how soon are you looking to move?

Um, I would say what, 30 days, 45 days? Yeah, 30 to 45 days.

Okay, so I see that the property is listed right now.

Correct, yes.

It looks like it's been listed for almost 3 months.

Yes, yes, yes. Yeah, yeah, we're going on 90 days now. And then we had a couple of, um, we had a lot of foot traffic initially, and then we had about 4 offers or so that we actually declined just based on comparables and, uh, my market at that time.

Okay.

But about a week and a half ago, I got a notification from my new company in Canada that I needed to be there, uh, that was in January. So that's the only reason why I was looking at different options.

Yeah. So, um, how much equity do you have in your home? Like, like, I'm assuming you bought it— did you buy it— you bought like— you have a mortgage, right?

Correct. Yes.

Okay. And do you know about how much that balance is?

I think we're right under 250. Okay.

Okay. So you have some equity to play with. Okay.

Yes.

Now, you said that you need to— you're going to be starting this new job on the 11th, like next Wednesday.

Correct. Yes.

Okay. And is it still in Texas or like, are you going to need to make a big move?

No, I go to Texas, so the immediate— it's about 2 hours away from my current home, but I have a 5-year-old, a 2-year-old, a almost 6-month-old, so I definitely want to move them. I wouldn't want to be driving 2 hours each way each day.

Oh, that makes— yeah, absolutely not. That does not sound fun. Okay. So, um, are you willing to take less than what it's currently listed for?

Yes, sir.

If I were to make you a cash offer where we cover all the closing costs, there's no— there's no, uh, well, I guess you already have the property listed. What's your agreement with this realtor? Like, do you know when the listing expires?

Uh, do you remember? So we have a pretty good relationship with Melanie. Um, I know before I told her, so she's also willing to, uh, cause she looked at, what was it? Open Door for us or something like that. It was one of those other like iBuyer services. Cause she knew she got the information. Uh, when I gave her the information about the move needing to be sooner, she's like, okay, well, let me look at a couple of different things to see if that would help you guys. So I think it expires, I would say probably like 3 months from now, but I know she didn't have an issue with like canceling the— or like terminating the contract, the listing, just because she knew it was all due to the military.

Gotcha. Well, it's just because, you know, if I make you a cash offer, I can already tell you it's gonna be less than what you have it listed for. And also, it's like If she's still the listing agent, you know, while we do it, then she's going to take her cut. And whereas, you know, you found me independent of your realtor, so, you know, we'd want to avoid you losing any more of your equity to having to pay a real estate agent who didn't sell your house for you, if that makes sense.

Correct. Yes, sir. No, I understand.

Okay. So I'm going to need to take this to my underwriters. I assume all of these photos we have are accurate. In an ideal world, if you could wave a magic wand, when would this property be sold? What day would you be wanting to move out?

What day do you want to move out, man? By the end of the month? Okay, yeah, my wife says at least by the end of the month.

All right, January 31st. Let's see, it's Tuesday. Okay. Is what I'm going to do is I'll take this to my underwriters and I'll figure out exactly where we would need to be on a cash offer. Do you have an idea of what's the least amount you would need to walk away with? After the house is sold, the mortgage is paid off, what are you going to need to get you into your next situation?

We have the documentation that my wife and I had gone through, like actually written out the numbers because we're very visual people, very analytical. But right now we're on the road. Do you have it in your notes? I know, what are we looking to get? But it's, it's in the paper that we talked about the numbers. Are you going to be available in about 30, maybe 35 minutes?

Yeah.

Okay, is this a, is this a good number to call you back on?

Yeah.

Okay, give me about 30, 35 minutes because that's around the time we should be back home. And then I'll pull up that document that her and I have written out and I will give you a call, sir.

All right.

Sounds good. We'll talk to you soon.

Okay. Appreciate it.

All right. Bye-bye.

Bye-bye.

So people were saying it's— Yeah, great. Is what I did was I just turned this off. I just clicked this to mute and they said it's good.

Okay.

Oh, so I think that fixed it. But dude, I was like trying to pay attention to way too many things at once. I was having such a half-assed conversation with that guy. It's in Texas. Um, so here's the problem with comping in Texas is it's a non-disclosure state, so I can't fucking tell what any of these properties sold for. I can only see what's currently for sale.

Yeah, that goes down.

So here's a $372,000. This is the comp that they're basing their shit off of. Pending, 160 days on market. 350, 315. Oh my God. All right, 364. Price increase. Oh, this is again— all right, getting the notification that it sounds good. I love it. How you guys feel about this new setup where you can see the, the shit I'm looking at? It won't last long, huh? It won't last long. 74 days on market. All right, so I need to go to Batch. All right, I don't know. What's set up on here? What's going to open up? Hopefully nothing too bad.

All right, we're chilling.

All right, I need to get this address. All right, we're going over to Batch because Batch will have some better data in Texas about the sold comps. There we go, that'll get it. What the fuck just happened? My, my camera just cut out, just went black.

Check that real quick.

This—

excuse the technical difficulties, guys, we're still learning this.

Uh, click Facecam just to see if it goes back to your Facecam. No, it's all out.

Uh, wait, where'd it go?

Hit configure.

Hold up, let's, uh—

Good.

Nope, we're still not on yet. Still black.

Why?

I have no idea.

Bring it to the top.

What's that?

Bring it to the top real quick.

Where?

So I can drag that all the way up. So it's in. Oh, what the fuck?

All right, we're back, I think. What's up, Georgia dogs? Uh, Tyrone, how does this man not have more than 1,000 viewers right now? We're all lucky to find Tyson before it blows up. Tyrone, it's the nicest thing, man. I really appreciate you. Thank you, it's very nice you say that. All right, back to what I was doing. So we need to look at the comparables here on Batch. So the way I comp on Batch is I'm going to take these down, I'm going to get rid of all of this, all of the parameters here except for distance. I'll keep this sold to life within the last 12 months and built within 10 years, but we want to go to let's see, half a mile. Let's see what this brings up. Yeah, so this is now just showing me everything in the neighborhood. Now, all right, we can see that we have 23 nearby properties. So now we're going to— we'll do square footage, 20%. Let's see what we got. Okay, this is good. This gives us all the data we need to comp. Now let's look here. So he bought his property for $275,000. So he's experienced some nice appreciation. That's good for him. Um, let's look at what else we got. Do we have any model matches? That's the first thing I want to look for. So a model match, I'm just going to look for something that has the exact same square footage. There are none. Uh, we do see this one. It's on a similar size lot, sold for $370,000. So this is one of his comps. He's definitely looking at these two comps, right? Let's see the most recent sales. So this one that sold for $300,000, 2,000 square feet. Let's see if we can find this comp, if we can find some pictures, because this comp sold for $300K. Wait, for sale now for $370,000.

Interesting, interesting.

Okay, that can't be right. $370,000.

What is this?

This one, 1,900 square feet, also sold for $300,000. All right, so that's what shit's selling for. Right now, this is probably investors that are buying these. I— if that's what it feels like to me, I got, I got my Spidey sense. They're telling me that these are two investors that bought these. What's this? 273.

Wait, where is this?

Wait, this is showing a different address. This house. Right here. What is this? Here we go. Okay, so this one's not as nice. This one's not as nice as his. Either way, is what I know. What did he say? Do you remember how much he said he owed? Like $260-something? Yeah, he owes $260-something, and I think we could probably— I mean, I don't know, let's go to the calculator here. As-is value, I think it'll sell on the market for like $315K. So the only option we have here is to buy it from him sub-2 because novation is going to be the way we're able to offer him the most. I mean, the house is already in ARV condition. Oh, fuck. Yeah. So we would have to offer him $211,000. This would be our cash price to try and dispo to $231,000. Our novation offer would be at $250,000. So that's not going to work for me either. So what we're going to have to do is buy it sub-2. But we already know that this guy's going to be a good subject-to lead for one very important— two very important reasons. Number one, he purchased his house recently, meaning within the last couple of years. Meaning he doesn't have a ton of equity, especially because he thought he had a ton of equity, because if he would have sold this house, I don't know, maybe 3 or 4 months ago, he'd have been fine. But we know that he needs to move quick for a job, and he doesn't have a lot of equity. We know, boom, sub-to. Now, the way that subject-to works, if you guys are unfamiliar, is when you're buying a house subject-to, you are buying it subject to its current mortgage. What that means is that The way it would work is that I become— so if I bought it from subject to, I become responsible for making his mortgage payments. So what I could say is, hey, listen, I'll buy a house subject to and I'll give you $10,000 to move out because that's the best I'm going to be able to do. So you'll get $10,000 at closing. I will take over making your mortgage payments so you don't have to worry about that anymore. Now here's the thing is that his mortgage will still this will stay on his DTI because the mortgage is still in his name. I'm not assuming the note. I'm buying it subject to, meaning I become responsible to make the payments. I get the ownership of the house, but mortgage is still in his name. So he's not gonna be able to go buy another house. So this is what we need to have a conversation with him about. And we need to see what he thinks about all this. And I need to write down all of these notes. In my CRM. All right. Seller is military and needs to move for a job change that is 2 hours away. Owes about $260K. Looks like this house will sell as is for $310,000 to $330,000-ish. Cash offer or novation won't work. See about sub-2. So what I'm going to explain to this guy is that As an investor, I don't think that anybody's going to be able to pay him enough money to where he's actually making money. The best cash offer he might get is somebody that'll cover his mortgage and that's it. So with sub-2, he allows me to do that. I'm getting into a property with a mortgage already established. So I would need to figure out—

What the fuck?

My camera blanked again, bro.

What?

Why does it do that though?

I don't know.

What'd you do last time?

I don't know, I just barely tried that, what I did last time. Let's deactivate it, activate it, flip vertically. That's what I did. I clicked this.

Wait, turn off auto detect.

Where?

Oh wait, no, no, no, capture.

Uh, wait, I just realized I haven't been recording anything. Or wait, have I been?

No.

Nice.

Does it show what I want to say?

Um, all right, Sony A6400. Is it hot?

A little.

You mean maybe overheated?

No.

How to fix Sony camera issues.

Hey, it's a hurry.

Got someplace to be?

Yeah.

Well, not happy to see me?

No luck for now.

Hey everyone, Ryan Latham here. Today we are going to be talking about some issues that a lot of people run into when using their Sony cameras for live streaming and what you can do to resolve those issues before you go live. This is actually going to be a follow-up video from a different video that I made a couple of months back talking about—

I switched the battery, I think it's the battery, I think you're right.

You think it's the battery?

Yeah.

Well, I don't know, I just switched the batteries, so.

Huh.

Is that 100 C?

Well guys, I promise this new format will get better As we, as we learn, it's at an hour 30, so. All right, well, we'll go back to that video if we have to. Either way, all right, let's set a note to follow up with this guy today. Remind me in 30 minutes to call Carlos.

Cool. Hey, what's up?

Oh no, doing what? No way! Oh man, she's going to be all right.

I'm just sitting here like, thanks. I literally was eating lunch and I started feeling so sick. My dad called me and I can't like—

what did your dad say?

She's fine, but I should tell you that it's like a severe fracture. They had to put her to sleep to like fix it, to get it Jesus.