How To Find Good Real Estate: Discount Deals
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How To Find Good Real Estate: Discount Deals


Hey, what’s up my friend? Listen. Sometimes,
I just get sick and tired of telling you how to make a lot of money in real
estate and sometimes I just want to go out and do it. So, today’s your
opportunity to watch me work. What I’m going to do is I’m going to hop on. I’m going to
use my favorite system for finding some of the best deals that are out there in
my backyard. It’s the same system you can use in your backyard and I think this
would be a super tutorial to showing you what you can do right now to take fast
action to finding a sick amazing deal that can help propel your financial
future forward. Listen. Let me break this down for you. When I started investing in
real estate, I had to rely on Realtors, I had to rely on other people. And you know
what? At the end of the day, who really gets my philosophy as well as I do? Who’s
really watching out for my best interest? Realtors and bird dogs and other people
out there, they’re really great tools that can be super helpful and useful but
at the end of the day, you got to take ownership over what you’re doing to make
sure you’re finding these really good deals. And fortunately, we live in a world
of technology where the deals are now available and you can bypass Realtors.
And I’m going to be showing you a system today where I’m aggregating millions of
pieces of information that give me access to everything that Realtors can
see, everything on county records that’s public record. And so today, I’m going to
actually show you one of my favorite strategies for finding really awesome
discounted deals. Okay, so check it out. So, if you go to… If you click the link in
the description below, you can actually get set up with a 6 day free trial of
PropStream. Out of all the systems, that is my favorite finding really, really
good deals. And as you’re looking at the screen here, I’ve just finished logging
into my account. Beautiful thing is it’s just web-based. So you can go right
online. And in the top left corner, check out what I’m going to do here. What I want
to do is in this moment, I want to see if I can find a sick ridiculous deal loaded
up with tons of equity right before your eyes. And I live I’m going to find this in
my backyard. So right here, I’m going to go Utah County, Utah. I’m going to put that in.
And automatically check out what we see here on the left corner. We see 13,000
MLS listings. We can see 135 pre foreclosures. 31 foreclosures across the
top. 43 cash buyers. We can see over
3,000 liens. There are some O-OHS. People and problems right there. And then we see
66,000 properties with high equity. And so what I’m going to do right now is I’m
going to go up here into the center. And listen, if you have your free account, you
can do this right now. You don’t have to pay anything for the system and you can
leverage it. I’m going to come over here and I’m going click filter in the top left.
And what I’m going to do is I’m going to do a search for finding single-family homes
that have a high degree of equity that I could ask a realtor to try to find for
me but I’m going to find it more competent than them and I don’t have to worry
about what they’re screening out. So up here, I’m going to say list type. I’m going to
look on the MLS for this particular search. I’m going to say we’re going to look
for something that, Is that owner-occupied? Is it owned by
corporation? I don’t really care. I’m calling it any. Property characteristics,
this one’s really important. This is… I’m going to click on single family because you
know that’s my game. And I’m going to look for… And I got to tell you something guys.
Single family is not my game. I’m… I’ve graduated on to a much bigger
game. But I keep talking about single family because 99% of you, you’re brand
new to the game real estate and I think that’s the most intelligent easiest way
to get started when you’re brand new. And you got very little going for you. So, I’m
going to find something built maybe 1970 and newer. I’m not going to
put a max so we can do anything on up. And what that being said, dude, I like
newer homes. But I just want to see what’s out there. Means that has updated
plumbing. We don’t have some of those little problems. I’m going to look for at
least a three-bedroom home. I’m going to look for at least a one bathroom. Square
feet, I’m going to look for, let’s just say at least a thousand square feet from my
area. I don’t care the lot size. Do I care if it has a pool?
Air conditioning, fireplace, a garage? I don’t. So, next we’re going to hit MLS
status. And we’re going to say that it is on market. Yes, it could be off market. The
ownership information. I don’t care about that. Liens, but value trend. This one’s
really important. What is the estimated value that I want to take a look at? Okay,
so I’m clicking on MLS status. And I’m looking for all things that are
active on the MLS. And then I’m going to say listing amount. I don’t care if it has a
minimum. But what I’m really looking for is a home that
has, that isn’t listed for anywhere higher than $230,000. So, you know me. I’m trying to stay underneath the median. So,
I’m looking for 170, 180, 210 thousand dollar homes. I’m going to say that I don’t want it listed over 230. But check this out. Under value trend, I’m going to say that I
want it to have at least a value of two hundred… I’m going to say $260,000 on up. Here’s what that’s going to mean. It means that it’s
gonna look at all properties that aren’t listed higher than 230. But it has to
have a value of 260 or higher. Did you see how I just gamed the system there?
Like let me break that down because you need to understand this. If I’m not
finding homes, they could be listed to any price up to 230. But don’t
show me anything unless it’s worth to 60 or higher. What I’ve created there is a
gap. That gap is going to be called what? Equity. Let’s see what our market has,
right? We’re going to hit apply. And I have four properties that hit my
criteria. So this is cool. Dude, let’s check this out. Okay, this
first one that you can see here, that’s kind of a tractive looking. It’s kind of
got a turquoise door. But this is a house in Springville. It’s a 4-bedroom,
one-bath. It’s 1500 square feet and it’s listed for 225. And friend,
it was just listed a couple days ago, in the middle of December,
okay? So, let’s actually check out what’s going on here. I’m going to click on it. And
the first thing that I want to know is man, do we have a deal here that might be worth something. I’ll check it out. This is giving it an estimated value
of $266,000. Now, remember they’ve listed it
for what? 225,000. But if it has a value of 266,
what have we found there? Well, we have found $41,000 of
equity. Now, I don’t know if it’s really there. But at first glance, it looks like
it’s there. Now by the way, if you can buy a home and walk in a $40,000 of equity, is that good? I dare say yes. Okay. So, then we got to say, “Okay, let’s
kind of dig into this look at this.” I got the owners information. it’s owned by KXXD Charles J. Whatever that means. I’ve got the exact address of the house. I’ve got
the number of living rooms. I got all sorts of data on this property here. What
we’re going to do is I want to click on MLS details right here. it’s going to show me that’s listed for 225. And then the
next thing I’m going to do is right across, I’m going to click on comparables. Now, this
is important. My biggest reason for having the system is not just finding
deals but when I go to a realtor to say, “Hey, pull some comps on this.” I’m
basically saying, “Realtor, look at everything else that is sold in the area.
And tell me if this is a good deal or not.”
The reality is without me, they can see 14 comparables and they can pick the
ones that skew the value high enough that it meets their needs. Because hey,
Kris is an investor, he wants to see big equity. I’ll showing big equity. And they
might be comparing it to inappropriately more expensive homes that’s going to drive
the value up. So, I like to do my comparables myself. So, look what we have
here. We have 24 comps. I’m going to pull this freaking confident. Going to do
this myself. I’ve got all the information on my neighbors. I’ve got a hundred and
14 homes in the area on the MLS. But let’s look at least 24 comps.
They are, as you can look at the map here, there’s a couple that are outside. Here
number 24, 22. But guess what? These are all within half a mile.
That’s a lot. So, here’s what we’re going to do. We’re going to first of all, we’re
going to pair this down. Since the property we’re looking at is a 4-bedroom,
1-bath, I’m going to say, “Bedroom minimum is 4, maximum is 4. Bathroom minimum is
1.” I’m going to say maximum is 1.5. I’m going to say 2. And all of a sudden, it
says that we actually have zero comps. Actually nope, it’s pulled up 3.
There’s our subject property and there’s 1, 2, 3. So now, check it out. Let’s
look at our square footage. Ours is 1500, this is 16, this is 16, this is 17. Close
enough that’ll be adjusted. Your built, 2000, 2002, 2013. And remember, these are
all… If we look at these properties right here, this is actually creating an
average sales price of 321,000. You know on average,
they were on the market 53 days on average. But that is a hundred
thousand dollars more than the properties listing for. Now, either
there’s something really wrong with this property to have that much equity or we
have found gold. And Friends, this is how I find gold.
But look what technology just did by having access to this. I got to sift
through 13,000 listings, on my criteria as an expert investor to find
3. If you’re watching this video, you can click the link in the description
below. You can download the system for free. And in your area, you can do exactly
what I just did. And you know what? You can find a deal with some hot equity. So,
this is one for me to chase down. This is one that I would send somebody or I
myself would go look at the property. And I would see if there if there’s anything
wrong with the condition of it. I’d take a little deeper look at my
comps. But guys, it looks like I’ve got a property here with almost $100,000 of equity. Okay, we’re going to back up one step. We’re going to
look at what else we have here. Okay, this in Spanish Fork. This is a 3-bedroom, 2-bathroom home listed
for $216,000. I’m going to pull this up. And this
is giving it an estimated value of 220,000. That does
not sound like equity to me. What the heck happened here. Listen, for 216, they’re saying it might have a value of 220. That is not showing…
That is kind of disobeying the computer so I will skip you. Okay, 1796 East
American Way, number 6. This is an Eagle mountain. It’s listed for 220. Let’s check
this one out. This one has a value of 230. That’s not enough
equity to impress me. And this one is valued at 235 listed at 228. Also not
interesting. The only thing on this board today that’s coming up is this top one.
And I want you to remember something. The deal of the decade comes along how often?
Every freaking day. You just got to be looking at the market and you have to
know exactly what you’re looking for. So, we got a hottie right here. So, this was one way of doing the search. And basically, if you manipulate the system
just the way I showed you, what you can really do is look for a massive equity
discrepancy between what something’s going for and what you want it to be
worth and find that gap right in the middle. So, I hope this was useful for you
guys. I wanted to show you this is what it looks like.
My next step once I get off of this video is I’m actually going to go ahead and
actually call up the realtor representing this house and I’m going to
say, “Hey, I want you to actually send me some comps.
And I’m going to compare their comps to my comps. And I’m going to decide at that point,
how much equity I have. And if I got equity, I’m making an offer. And if I’m making an
offer, I got a good chance to get in this deal. And if I got a good chance to get
in this deal, this house right here, it’s going to make me around $100,000.” How long did that take? However long this video is. Friends, it can
honestly be just that simple. Join me on the next video, I’m actually going to
show you how I use people with tax liens in those situations to also find deals
with incredible equity that you can negotiate for huge wins will help you
solve their problems.

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