How To Find Good Real Estate: Discount Deals - YouTube

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.