How’re we doing everybody? Man? It’s pretty. It’s still fun and Friday. I love I love Fridays. I said every Friday, and I’ll continue to say it every Friday Friday’s deal finding Friday with privy.
We love using privy. We love talking to agents, we love doing deals less freaking go.
So privy I know for the users of privy I just did a masterclass last week for just people that are members of privy and I showed exactly how I set up all my filters for privy and how I did it my 30 Day Challenge. And so what you see right here, these are free deals, these are free deals, that privy brings me while I sleep. So literally every day, I get to wake up, and I can go to my email and privy sends me Hey, here’s the properties that meet your criteria right now. So we’re going to take a look. So I’m going to click on this email because it says it’s got 12 in here, and we’re going to see if there’s any in here, I’m going to take a closer look, these are all properties that previous emailing to me because it met the filter criteria that I set. So one thing that I do is when there’s something really big about the property, like to me I’m not obviously I want to look at whatever comps are the closest but like a two bedrooms are really big deal. Alright, so Oh, like this is a three one that did a price drop. looks kind of nice. Ooh, great for an investor we’re gonna call it without even we’re not even gonna look at the comps. So that’s something I’ll look at in the notes is like if it says cash offer only great for an investor handyman special, I don’t need to look any further. I don’t care what it’s priced at. I don’t care how long it’s been listed. They are literally saying please call me, right, because we’re going to learn so much more over the phone. Let’s see, we’re looking for a cell phone number. I do not want to call Boom, right there. You don’t want to call an office number. All right. Well, that’s call 407. Calling Annie.
Hi, this is Annie. Hey, Annie.
This is Nathan, how you doing?
Good. How are you?
I’m good. I’m good. Thanks. i I was calling about a property that I saw you had listed here on on Piedmont Street. Yes. Yeah. I was just calling to see if you you had a minute chat about it. No, okay, perfect. Yeah, so I kind of saw here was taking a look at it. I’m interested in it. I’m looking at it as a potential investment opportunity. I was wondering if you could just kind of tell me a little bit about it. And anything in particular, that would be good for someone like me to know. Sure.
So I sold that home to the current owners in 2019. Oh, awesome. They’re just looking to purchase a larger home. They’re originally from Haiti. The roof was replaced in 2018. H vac 2010 Water Heater 2021. And they had the whole home re piped in 2021 as well. I do believe if I’m not mistaken, I’d have to look into it that the exterior was painted at some point prior to them owning the exterior since they’ve lived in the home. I mean, they’ve been living in the home since 2019. It does it is in some needs of a rehab on the inside in my opinion. I think floors could be redone kitchen and bathroom. But other than that, I mean it definitely has good bones good potential.
I don’t know what else do you want to know? Okay, so structurally and mechanically it sounds like everything’s good.
Yeah, again, when we did the inspections the first time everything came back good. We did have an under contract recently, but the buyer never submitted escrow. So we set the cancellation for that she did have her contractor go buy the home he estimated 57,000 for a rehab but they also wanted to add an additional bathroom. That was the only feedback I got there.
Okay got it perfect. Now other than that, because I mean I’m looking at it, it doesn’t look terrible by any means it looks nice.
Again what I’ve explained other people they’ve been living in it you know since 2019. But like for example the flooring, you can’t really tell them the bedrooms but there was new carpet that was replaced prior then to them moving in. But she put I don’t know why she put like Final like the peel and stick kind of tiles on one of the floors and then like in another bedroom she removed the closet doors and added like a closet system. So it just it just needs some sprucing up and then inside
okay, got it.
And then also the oven does not work they are leaving the refrigerator there is an outside like utility closet I would say that has washer dryer hookups but they do not utilize those right now. I don’t know if they just use a washer, no dryer but there is like an outside laundry room if you will.
You know like I said it looks pretty nice. I think it’s priced really well. I guess you know, from your opinion what I guess what do you think’s kind of been, you know, holding people back.
Well, we did receive offers between 190 and 205. So the cash offer we accepted or they accepted was at 205. So that was why we did the price decrease from 215 to 200. Because we felt like the market was telling us, you know, with submitting those offers between 190 and 205. So I mean, it did go pending. We did get multiple offers. So yeah, I feel like at this point, it’s priced pretty fairly. My phone had like eight showings today. I’m hoping it will go by Monday.
Yeah, fingers crossed. I I’m just curious. I know. You’d said they came back with a rehab of 57,000. But they were looking at a bathroom. Yes. Did they say I know originally, they their offer was at 205. Did they say what they thought for them, they would their offer with me.
She never did. And like I said they didn’t submit ask her. I think she was trying to get the contractor in there first. And to be honest, he didn’t even go inside the house. So they had an 11 o’clock appointment. The sellers were there, he never went because they have a security system. So I followed up with her I was actually representing her as well. And she was like, sorry, the contractor just went by the outside of the home. And based on the pictures from the inside, and him seeing the outside, he felt like 57 with adding a bathroom. But that was the only information that I received. And then at that point, they asked for the price reduction to 190. And the buyers were willing to accept that because they were also allowing a post occupancy through June 18 with a 10,000 escrow hold back. So that was very attractive to them as well, that they didn’t have to pay rent and they could still live in the home. And then we were supposed to close may 19. And then was getting ready to submit a contract for them when the buyer Originally she told me she was moving forward and didn’t and I kept kind of pressing on her with the escrow and she just never turned it in. So I sent her the cancellation
Got it. It sounds it almost sounds like like you just got kind of like a new wholesaler or something.
And I was trying to figure out because even when I got the approval letter, I reached out to the contact on the approval letter and even person I spoke with it sounded like person who submitted the offer. She had this LLC, but then he was the investor. And then he was like, you know, I approve this. This looks good. The only thing he did tell me I’m just trying to give you all I like to give as much information was that he said the shed that was on the property. He said he’s used the words it’s illegal, which I was like, Well, when we purchased it, nothing came up. He’s like, Well, nothing would have come up. He’s like, I’m just not seeing it’s permitted that there is a shed in the backyard.
Yeah, that’s weird. Yeah. Interesting. Okay, um, well, at least you’re done with them. So that’s good.
Yeah, I just I was like, you know, I need escrow submitted. And on yesterday, Friday, she was like, we’re moving forward. And then the next message I got like, three hours later was sorry, my investors something like trying to remember the words I can look back on the text, but like, they don’t want to buy and hold in that area.
So I don’t have a ton of experience with investors, I usually help you know, buyers with purchases.
So yeah, you have to say you have to say my numbers so that for future reference, you can just be like, hey, is this person an investor and I’ll be able to let you know like so for this property it so it sounded like for the sellers do they already have like the next place lined up? Like do they want a quick closing? Or do they need more time
I was trying to figure I wanted to get them under contract, especially in this market first because I think it’s going to be a little bit difficult to get them with a contingency so that’s why this particular offer was attractive to them because it did allow them a post occupancy, you know, to give them the ability to close on May 19 and then have that time to have that cash to then close on the next home.
Yeah, how much time do you think they would like to have?
They gave them a 30 day postdoc but I honestly don’t think that’s necessary a full 30 days I mean, the ultimate goal would be to get them under contract get them close and out of there so she just the investor said they’d give him 30 days so I took it they took it
but yeah, would they prefer if like closing was just delayed a bit if like closing you know, rather than it being Oh, like let’s close in two weeks, you know, if we made closing you know, 30 or 60 days out is that something they would prefer
they’re open with either option I just explained to them before doing that you know, we’re a little bit you know, with turning around with like closing selling and closing you know, on the same day are buying and closing the same baby with two homes.
Got it. Got it. Okay, cool. And then I guess my my last question, I know you kind of just dropped the price. I know you had it under contract with someone else previously. I know it’s listed at 200 I think I could put together an offer that could be a really good fit for them. I think you know, working around like their timeline and kind of making everything super convenient for them. That’s really doable for me, but the only thing is I haven’t taken a close look just the I gotta take a little bit closer figure out exactly actly where I’m at, but probably going to have a really hard time getting up to list price. But my number one thing is my goal is I, of course, I don’t want to make an offer that would insult them or you by any means. I guess my question is, if it was a cash offer and kind of met everything that they’re looking for, I guess, what price do you think they would really need to be at in order to move?
Like I said, they accepted that offer or the reduction in price to 190 from the previous buyer, but to me, originally, they were saying the lowest they wanted to go is 200. But I think that’s changed a little bit. But yeah, I’m just not sure.
Okay. No, I totally understand. No, that makes sense. Well, I’ll tell you what, here’s what are they looking to kind of accept an offer by? Is it as soon as possible kind of thing?
Yeah, as soon as possible. And trying to see what this weekend holds. With the showings? I think now that we’ve dropped the price of 200, we’ll definitely see a lot more buyers, you know, because before it was that 215 price,
So if what would show if, like, if I wanted to either myself or someone in my network wanting to go walk the property? Is that something that you think we’d be able to do this weekend? And one of the feelings? Yeah, definitely.
If you just want to send me a text message with either your business card in the day and time, I can allow you access for the property. Confirm that with the sellers. It’s pretty easy to show, though.
Awesome, awesome. All right. Well, I’ll tell you what any, um, let’s do this. Let me take a closer look. On my end, let me see where exactly I think I’d need to be at and the way I kind of do things. So I’ll let you know kind of exactly where I need to be at. And then when I want to have someone view the property, I also like to send typically, just like one or two guys that I’m really, really close with, they’ll also walk it because so what that person was trying to do is they were just trying to find another buyer and assign the contract to them. So which like, there’s nothing wrong with that. But the worst part is like, I don’t know, they don’t tell you about it. They don’t explain what’s going on.
And it’s like, they pretend like it’s just they may not assign on the contract, though.
Yeah, yeah, I know, like, what they’ll do is they’ll try to just double close it. So yeah, I told you, you got to save my number. And I can let you know, Inside Scoop next time. But so so what I do is I like to look at the property. And if it’s able to be a good for me, awesome, you know, we can still move forward with the offer that we have in place. And if for whatever reason, if you know, something were to pop up and I’m like, Oh, wait, this is a bigger rehab. If one of the other guys that I had to go and look at it, sometimes it’s able to be a better fit for them than than it is for me or whatever. Sometimes they can do a job a bit cheaper, or they’re already doing a project in that neighborhood. Or the way what I do is I’ll let you know if that’s the case. And then we can still keep the same contract in place, but they’ll be the one buying it at the end and we can keep everything the same timeline, same terms, and then it’ll just get assigned to them at the end. Okay, perfect. So Annie I will tell you what, let me take a closer look and I’ll be in touch Alright, sounds good. Thank you all right, thanks Take care. Bye bye
guys and like it doesn’t take a rocket scientist like this is a motivated property motivated seller motivated situation. Guys, this man. There’s so many gems to take out. I hope you guys listen to this call like 10 times over because there’s so many things you can pick up. Did you notice so perfect example of what not to do. Don’t be that first wholesaler. Don’t be that first wholesaler. They locked it up. They didn’t have a buyer in place. They sent a buyer to go look at it buyers like no I can’t buy this thing. And then they had to cancel a contract.
Well, she had to send she had to send a cancellation to them. The the wholesaler didn’t even cancel it. They just ghosted them trash. That’s exactly what we’re telling you not to do. You do not want to be sketchy lie. She you don’t want to do any of that. That’s not how you run a successful business guys.
And I literally told her, I literally said that I would be looking to assign it if the if it’s not something and that I would tell her and let her know. And that we would make it assignable. And she’s like, Yeah, perfect. So guys, that’s Oh, my God, man. Oh my gosh, I’m so happy. You guys got to see all that.
So when people come to you or come to us and say it doesn’t work, guys, it’s not that it doesn’t work. It just requires the right conversation. You have to be honest. You have to have the buyers in place. Nate has buyers in Orlando. He knows someone he can call right now. We’re ready. We’re prepared. We know what to do next. If you just go out and you don’t know what you’re doing, you’re making crappy offers. It’s immediately an agent can tell me like hey, this is sounds little. So you got to do things the right