You want to know if you have a smoking deal in real estate so you need to run
the numbers, you need to analyze, you need to run the comps, you want to know do I
have a really good deal? Today, I'm going to show you exactly how to do that with a
very simple tool. And today, I'm also going to share with you how do you find
really amazing hot deals. Now, join me. I've got Burton. He's in town from
California with Props Dream. This is my go to real estate software for cutting
out all the Realtors or all the unnecessary people when it comes to
buying a house with maximum discounts and maximum equity. Now, Burton. I'm asking
you, I'm going to put you to the test, okay? I'm going to be testing your software and
here's what I want to know. Can you help me in less than a minute, find a hot
smoke and deal that has a significant... Let's call it a 20% equity position? -Okay.
-You're up to the challenge? -Absolutely. -Okay, awesome. -We're going to go back to Salt Lake
City and I'm using some of the criteria you're very familiar with. So I'm going to
look for something that's owner-occupied. I'm going to filter through the MLS looking
for single-family and using your criteria. 3 to 5 bedrooms, 1 and
2 bathrooms. -Entry level, hot. -I'm also going to look for anything on the MLS
that's active or failed. -Okay. -What I also what I'm going to do is look
for anything that's listed below market price. And it's currently on the market
as well. -Now, I'm going to put a max on 230,000. Because really, I
like to be below the median and so that just means we're going to be there. -Right.
Now, we can... For me, I like to look for any type of owner so I'll leave that alone
value time. So, what I'm going to do is I'm going to look for properties that are
listed up to 230,000 but our system calculates it at a value of
$260,000. -Now guys, you need to watch very carefully because
you can get the software for free. It's something special that I negotiated with
Props Dream. For all of my investors, I want you to have access to really good
deals today at no coast. and so, I want you... I want you to
literally duplicate exactly what he's doing on the free system that you can
download in the link in the description. And for your area, be below the median
and you have to know your numbers a little bit. But check it out.
I want my estimated value at 260,000 or greater. So
basically, we're saying, "Find me something..." See, there's a margin between 230 and 260.
"Find me something under 230 that's at least worth 260 that's giving us a gap."
-Absolutely. So now that we've done that, we're going to go ahead and apply. And we narrowed down 16 results out of 10,000 MLS list.
-Okay, so out of 10,000, we brought it down to 16 of the hottest deals that are
below the median. Do you guys see how amazing that is? Let's look at the first
one here. What do we got? -348, East.
The property values 264. It's listed at $200,000. -Boom! That's what I'm talking
about right there, okay. That was maybe longer than a minute because you were
explaining, grace period. You're all good. Dude, friends, you got a look at this. This
is a home that is listed for $200,000, it has an estimate of 264,000. Let's look at
the next one. What else would this...? 1613. So estimated value of 290,
currently listed at $200,000. -Okay. I'm just going to breathe for a second because
I'm going to pause. I'm going to take a bathroom break but really I'm just
going to pull up my cellphone and I'm going to call this person up be like, "Hello, I have
an offer for you right now." Guys, an estimated value of 290, purchase it for
$200,000. Now listen, you could have a team of Realtors going through all
10,000 of those deals all day long. And most of them are going to tell you this,
"It's not possible. You can't find that much equity." But I'm telling you, the deal
of the decade comes along like every day. You just need to know how to look for it.
In PropStream, they're making it easy which is why I asked him to give you a
free account or at least free trial so that you can check this out. Do the same
thing. Literally, get a deal in your area right now. Look up the next one. I just
got it. I just got it now. So, he found 60 grand on the first one, we've found
$93,000 on the second one. This is a property on redwood
road. -271, listed at 229. -Okay, so this was 229
271. We're looking at a $54,000 discrepancy. So friends, check it out.
We just found 3 smoke and hot actually live deals that we can call and
I guarantee you, if I'm making that phone call I'm going to be getting 1, 2 or
3 of all of those deals. People are always complaining, "I don't know how to
run the comps. I don't know how to find the good deals." We have found them. Now,
let... This whole video is about running the comps. Let's take the first one that
we had found there. -Absolutely. -And actually, take the second one. Because
they had $93,000 of equity. That is awful suspicious but
hey, if there's ten thousand homes on the market, there's bound to be one person
that's listing in a third below market. -Alright. -So our system will give you
access again to County reported comps as well as MLS listings. So, the first is we
have 15 comps to this property. -And those are all listed without a
half-a-mile? -Correct. -Okay, that's awesome friends. You've got, you know, we're always
looking for 3 comps.3 things that have sold in... In a half
mile radius. Or if you know that your properties in a weird location where
you're bordering up against like commercial or like a million dollar
residency, you know, eliminate those ones. You're trying to stick with homes in the
area that are the most like your home. So you don't skew the numbers. -Absolutely. So,
here, we can also now filter our comps. We can say we want something similar to our
property. 4 bedrooms, minimum 1 bathroom. -Because that's the home we're
looking at is a 4 bedroom, 1 bath. -So, now our system has identified four of
them with this average sale price of 288. -Okay, so check it out. What happened was
that it is that we went down from 93,000 to $88,000.
They basically said, "Hey, if you're going to eliminate the irrelevant
comps that are in the area and stick with the homes that are the most recent
and bedroom, bathroom and size", now we've only got four real comps. You want to
select the best ones. And right now, they're still showing eighty plus
thousand dollars of equity. -Absolutely. Now, the next step I would like to do is
look at the hundred and fifty most recent MLS activities within a one-mile
radius around the property. Here, I can see things that are active. Like this is
active starting September 11. It's a 3-bedroom at 249. But we can
now look for the 4 bedrooms....
So, let's look at active four bedrooms. So, here are we are going down. Here are
the active four bedroom. So, we have one that's active. 4 bedroom, 2. Was
active on August. So, is listed starting on August being listed at $372,000
-Which is $90,000 even higher?
-Absolutely. -Okay. So, you can see you've got 373, 936, 370, 499, 609,
274. So, we need to get to the relic. So, can we actually... Can we do a
comparison here on just the MLS listings that are the most relevant? -Yeah. So, what
I normally like to do is I like to sort out by the most by sold. So I'm going to go
here at the top and change the status. So, it shows me all the sold properties. So
now, I'm just looking to find any 4, 2 bedrooms that are on the sold results.
Here's a 4, 2 that sold in February for $309,000.
Another one that's sold in Maine for 274. -Yep. -There's one that's sold
315 and may. So idealistically, we're now showing you information that
the realtors have access to but you have access to it through PropStream. -Now
guys, this is really incredible because you need to understand that when you
work through a realtor, someone needs to pay them. And the seller is always going to
be paying 6% out of pocket. 3% to their agent for listing, 3% to your for being
the buyer's agent. 6% on a hundred grand is $6,000. 6%
on %300,000 is 18 grand.
Instead of the seller actually paying %18,000, to the
Realtors, they can actually give that $18,000 or a part
of it to you in the form of a discount on the property. So, this is a really
powerful negotiating tool. Friends, when you're trying to get a pile of equity,
this makes it really easy because it helps you cut out the middlemen when
necessary. Helps you go right to the source, helps you know upfront what the
best deals are. Helps you run the comps on homes that have sold, what the active
listings are. And basically, you've got all the information at your fingertips
so that you can run the numbers and then make intelligent offers. Now, this whole
thing, this whole system, instead of me teaching you how to pencil it out by, you
know, the calculator knew by hand which I
still do anyway. I'm old school, I'm also new school and I'm using systems like
this. And I'm telling you, out of all the real estate software's that are out
there to help you find good deals, negotiate good deals, get the contact
information of the best deals, learn how to run the comps for the best deals, PropStream
is my chosen software. It has eliminated the need for any of the
others. When I'm in the mood for a good idea,
boom! It's right there at my fingertips. If you want that, I've gone to them and I
said, "Hey, I want to negotiate, you know, less fees." And you guys charge anyone
else. It's already a really reasonable, super, inexpensive system but I've asked
for the best deals on it. And have also asked for a free trial, no questions
asked for you. And I'm negotiated that on your behalf and it is available. So, all
you really need to do is click the link in the description below and start
finding the good deals, running the numbers and go get yourself a good deal today.