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DealMachine Tutorial | How To Find Off Market Real Estate Deals - YouTube
Channel: Jeff Leighton
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What's going on everybody?
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So in today's video, I'm going to show you
how to drive for dollars using one of the
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coolest apps out there.
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It makes it super easy to find off-market
distressed deals, no matter where you live.
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So in this 10-minute real estate video, we're
going to find some properties, I'm going to
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show you how the app works, and I'm going
to show you how to find off-market deals in
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your neighborhood.
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So let's get started.
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All right.
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So one of the coolest things about this app
is that you can just do it in your free time.
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If I'm just driving to a property, I can just
pull up my phone, pull up my app, take a photo
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of it, you don't even have to take a photo
of it, because it has a really cool address
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finder type of thing on it.
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But you can do it in your free time, you can
spend 10 hours a week, 20 hours a week doing
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it.
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In fact, some people actually hire assistants
and pay them per lead.
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Maybe if you have a property manager, you
can pay them.
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There's really different ways of setting it
up.
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You can have different accounts, where maybe
a five, 10, I know one person that has 40
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different people that are out there scouting
properties for them.
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So the very first thing you want to do is
obviously download the app.
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And once you've downloaded the app, it's pretty
straightforward.
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You're going to start looking for properties
in your own neighborhood that need work.
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So those would be properties where the grass
is overgrown, and we're going to find, one
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or two here on this drive.
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But maybe the windows are broken.
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Everyone has those houses in the neighborhood
that just look bad, that look like there's
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something going on there.
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And those are the types of properties we're
looking for.
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You're not going to go and just do it to the
brand new mansion.
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I mean maybe if you did that for a million
different mansions, you could probably get
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one deal, but it's not a good use of your
time.
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The properties we're looking for are the distressed
properties.
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You're going to be much more effective with
your marketing if you're only targeting motivated
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sellers.
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Another thing to keep in mind is the neighborhood.
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So similar to, you're looking for a fixer
upper type houses, some neighborhoods are
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going to have more than other neighborhoods.
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So try to find the transitional, the up-and-coming
neighborhoods in your area.
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You don't want to go to some neighborhoods
where maybe every house is perfect.
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Find where all the investor activity is, go
there.
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That's where you're going to find most of
your deals.
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So the key to marketing for off market deals,
or really any type of deal, no matter what
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industry you're in, you want to be focused
on the right type of prospects, but you also
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want to have quantity.
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So if I just have five leads, I'm probably
not going to get a deal.
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And the DealMachine app says you need about
300 different properties to really start seeing
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results, a minimum of 300.
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Better yet, if you can get 500 or a thousand,
you're going to start seeing much better results
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than if you just had a few.
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So this is more of like a long-term type of
strategy.
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You can't just expect to find one house and
then, "Okay, I need to get a deal...
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Oh, they didn't respond to my mailer."
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I mean, direct mail in general has a one,
maybe two, maybe 3% response rate.
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And that's how this app works.
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The way it works is once you find the address,
it pulls up the contact information from a
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variety of sources, and then it gives you
their mailing address.
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It gives you their name.
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It gives you how long they've owned the property,
and lots of other pretty cool information.
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And the old way of doing this was you would
have to write down the address, and you'd
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have to search the property records.
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Then you'd have to come up with your mailer
or a way of contacting them.
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This is much easier.
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You just find the address and click, click,
click, and send out your mail.
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And then you can also potentially cold call
these people, or even door knock.
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There's different ways of marketing.
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(music)
Okay.
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So behind me is a house that I found just
driving around in my own neighborhood.
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And this is actually the perfect type of house.
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The grass is overgrown.
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There's trees.
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The mail is overgrown.
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It looks like a pretty distressed house.
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And if you can hear the construction in the
back over there, maybe get a shot of this
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house over here, it's basically a brand new
construction property right there.
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So this is the perfect type of neighborhood,
and perfect type of property that you're looking
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for.
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So now what I'm going to do is I'm just going
to pull up my app, and I'm going to take a
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picture of this house.
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And I have the address is 1309.
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And it's going to actually populate in the
app, and I'll show you how it works.
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And then we're going to contact the owner.
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And that could be a deal, who knows?
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So here I go.
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I'm just pulling up the app right now.
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And the reason you take a photo of it is because
the direct mailing piece that you send, it's
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going to say, "Is this your house?
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I want to buy it."
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And it's a picture of your house.
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And it's a pretty good direct mail piece.
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I mean, most people, if they saw something
like that, someone taking a picture of their
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house and sending it to them, they might be
interested in selling or at least responding.
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So I'm just going to pull up the app.
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Okay.
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So I'm going to pull up the map in the app,
and that rhymes.
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So here you can see where I'm at.
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And this property address is 1309.
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So on this app, it's pretty cool, it shows
you the different addresses.
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So I just click on 1309.
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It tells me the owner's name, Elaine Harrell.
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Assessed value $550K, sale date, March 16th,
1976.
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So that definitely means that they've owned
it for a long time.
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It's probably completely paid off, and they
might want to sell.
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And there's properties...
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I actually did a deal right down the street.
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We actually just drove by a deal that I purchased
a while ago.
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This is a great area for development.
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So what I'm going to do is I'm going to add
the lead, and it has the option to take a
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photo.
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So I'm just going to take a photo of this
house.
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It might not be the best photo, but we'll
get a pretty good one.
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And you can always...
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I'm just doing this more as an example.
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So you can always get out and go right up
to the house and do that type of thing.
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But actually, that's a pretty good photo.
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Use photo.
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So now I'm sending them a piece of mail that
says, "Look, I want to buy your house."
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And you can also click on More Info, where
it gives you even more additional helpful
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info.
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But for now, I'm just going to Start Mailer.
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So start mailing, each piece of mail will
cost 55 cents.
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Start mailers, let's go.
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And it says, "Congrats.
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Your mail is on the way."
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And what's cool about this app is it keeps
track in a database of all these leads.
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So if you get a hundred, 200, 500, a thousand
leads, you can keep marketing to them.
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And it makes it very simple to track all these
leads.
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So what I want you to do, I'm going to put
a link below for you to check out the app.
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It's definitely worth it, whether it's you,
someone on your team, just doing it in your
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free time.
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So it's definitely very cool.
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And if you have any questions about the app,
drop them in the comment section below, and
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I'll see you in the next video.
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Thanks a lot.
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