How to start investing in real estate for beginners

All right, everybody what’s going on. This is the live batch call where I talk to you guys about how to use batch TV. And I also am working with the powerhouse group. And right now talking to them about doing deals. And my people here told me that a lot of them haven’t done deals. And that’s great.

That’s great. If you haven’t done deals, that’s why you’re here, you’re here to learn, you’re here to take action. So for those of you that are new, that don’t have batch leads, you need to try it out. It’s literally awesome. It’s a seven day trial it for free. And I’m gonna put the link in here for everyone here that’s watching it live.

If any of you watched the episode last week, or what I talked about, when I went on the live call, last week, I was talking to one of my employees, his name’s Nathan as well, about a deal that I had in Miami, it was like amazing how we were going to make like $100,000 on it right? So let me give you the story of how we got this and how you can avoid what happened to us. Okay, this is what happens when you joint venture a lot of the time is you don’t have access to all the information because you’re relying on other people. And this isn’t to throw anyone under the bus, I’m just letting you know, this is what happens. I’m in a couple different group for coaching, right? I help people learn how to wholesale to do it efficiently and effectively.

And all that and what was happening was this girl comes on the call and she’s like, Hey, look, I have a lead. It’s a seller, I need to find a buyer. It’s a piece of land. And I’ve been talking to the seller for a couple months. Can you help me find a buyer? I said, Sure, I can help you find a buyer. It’s what I do. Let’s split the deal. 5050 She got the contract, I got the buyer. So we said send us your contract will sign the JV agreement. And she did. So we looked at it, we checked on batch to see if he was really the owner.

It says that he was the owner. So we’re working this deal. We never talked to the seller, I just rely on Nathan who works with me to talk to the seller and the girl that we were JV with. So there was some red flags in the beginning, the guy was selling it like a super deep discount. And usually when I talk to a seller, and they’re selling super, super low, I asked them like, why are you selling so low? Because you can get more for this house. So I never had that conversation with him. But the one of the red flags was, I think the land retail they’re like 350. And the guy signed for like 120. So we spent about a week or two trying to find a buyer.

We eventually find people that are willing to pay what we’re asking, but they want a 30 day closed because land I think they needed to like verify a lot of things before they jump into it. What happened with that is it came down to like the last week No, we weren’t able to find any cash buyers, but that would close on it. But we did have one guy that we were tight with. And he was like, dude, I’ll pay 170. But you know,

I need to close on Monday, like the day after we had to close. And we’re like, Dude, we can’t do that. Because it was a great deal. We’re scrambling to learn how to buy the property with hard money. And we found somebody, but there was just some red flags, because we had called the seller and we’re like, hey, look, can you give us a little bit more time being so we can close and get our funds ready. And he started like ghosting us, right? And I don’t know what his angle was. But he like stopped responding like two days before the close date. And I was like, Guys, this is kind of weird. Like, this guy’s been wanting to sell quick. And now like we’re getting close to close that he won’t even respond. And we’re trying to like close, like, get the money ready.

So when you feel like there’s something wrong in your gut, then you probably usually is. And I was like Nathan, can she double check that where she’s talking the right guy? This just sounds fishy. And what had happened is this guy, the seller who had signed in the guy’s name, for some reason, she got his number. She called him the numbers. And this guy was like, Yeah, I’m Stephen. And he talked or he signed the agreement and Stephens name and everything. And she had been dealing with the wrong guy the whole time. Like it’s just a scammer. And I think what he was trying to do is just have someone just send him money.

I don’t know what his angle was how he thought he was going to get money, because you’re not going to get paid anything we found out that was the deal, because he wasn’t responding. And I was like, Man, this isn’t making sense. So that’s what happened. And after researching who the owner was, we found out that this guy was an attorney, and own multiple properties. So I’m not saying all this to scare all of you, but you can use batch leads to find out who’s the owner, you can use the data to find out more information. Maybe you can quiz them on it, like How old’s the property? Or how long have you owned questions that only the owner would really know that batch has and maybe he might know it to maybe the scammers got batch leads account who knows.

But what you got to do is verify and if something feels off, it usually is apparently after we call the real guy, the girl that we were working with called the real guy. He said yeah, this has been happening a lot. This guy has been trying to scam on people on a lot of his properties. But to avoid this everyone make sure when you’re talking to sellers, if you feel like something’s off, they don’t know a lot about the property or something’s wrong or you’re not talking to the person bump that like forget that right call it out. So anyway, that’s an exciting portion, man.

I thought I was gonna make like 100k last week and it was a dud, you know, but who cares? If you think of questions, it’s fine. I got to call this buyer back. Alright, so you are asking me how do I find a good market to flip in right or wholesaling? Right? That’s all right. So what you can do is using data, you can see what areas have the most flips going on.

On so for example, you go here to Utah, you can do the whole country if you wanted, but let’s just say okay, I want to know what part of Utah should I be doing deals in, right? So then you can look and see where the activity is right? There’s more activity, obviously, in Salt Lake City, Utah. There’s not a lot going on anywhere else. Does that help? Yes, it does. Thank you. So do how’s it going? Okay. Yeah, Diego, there you go. All right. We’re gonna teach you how to accomplish property right now. Are you ready? Let’s do it. I love it. So here’s the property.

It says that he bought it for 28,000, which he told me he did. It says that the estimated value is 168,000. So if we wanted to do like a quick way and go to comparable, and this is the property, it says, the guy is in pre foreclosure, so batches like yes, he’s in pre foreclosure. Their property has liens. Yes, it does. Is he in bankruptcy? Yes, this guy is pretty much every indicator that there’s distress here. So what you do here is you look around and you say,

Okay, what properties have sold or active in this area that are within 20% within the last year. So we look here. And this is our property right here. This house is a two one sold for 225. And yes, there’s a comp right to 25. But the thing is, the problem is the comp was sold last year, it says sold date seven. So we all know that the market has changed a little bit over the last couple of months. So that’s probably not what it’s worth now.

So you can go over here you can see some comps. I think his house is like worth 140. From what I’ve seen you go over main roads when you do your comps, or do you stay within that little bracket or where are you based on I tried to with the data that I have available to me I try my best to stay as close as I can. But according to this the data that’s available, he lives on a main street right so you got to process it right unless there was some oil here. I just showed you how to comp using batch leads. And if you don’t have batch leads, I just put the link in there in the chat. You guys can try it out for seven days for free. Totally worth it. I use it all the time. Have a good one. Hope to see you again. Later, everybody.


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