Expected Air Date: 11/1/18
Privy software helps you locate listed properties that meet your deal criteria. You can find opportunities wherever you look.
All right sports fans, the World Series is over, it’s time to stock up for the winter and I’m not referring to groceries, I’m referring to inventory if you’re in the house flipping business. Pretty much any time is a good time to buy if you’re buying right. Coming up today is Jane Garvey, one of the founding leaders for all real estate investor associations in Chicago, IL and nationally. We are excited to hear from her.
And then we will hear from Benson Juarez, one of the founding partners at Privy, a new real estate software platform that is going to blow your mind. Finally! Someone with the mind of an investor has given us non-realtors real-time access to MLS data. Stay tuned to hear about it.
How to contact us
Twitter and Instagram @FlippingAmerica
We now have a profile at houzz.com for what it’s worth.
Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.
- FlipStarter Nov 2-3, Atlanta, GA
- Lunch with me every Wednesday.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.
Guests: Jane Garvey Chicago Creative Real Estate Investors,
Benson Juarez, Privy Real Estate Investing
Topic: Comment Line calls and Questions
Call 404-369-1018, press 1 and leave your message!
email@example.com Tell us where you’re from!
- Curtis, Murphy, NC, “I have a neighbor who inherited his mom’s house over in Franklin. He doesn’t have the time or money to fix it up. He says it’s not bad, but his mom lived alone the past 15 years and there are several minor things that need to be fixed. He just wants it gone – he doesn’t want to rent it out and every month the payment just comes out of the estate. The loan balance is a little more than $83,000. It’s probably worth about $110,000. This seemed like a great opportunity until I listened to a few of your shows and learned some things about the numbers. Do you have any suggestions? I’ve been wanting to do a deal, but just don’t know what can be done here. (We asked offline and the payments are $476 PITI and the fair market rent is $750. The repairs to rent ready condition are estimated at $6500. Also ten years left on loan).
Motivational Thoughts for the day
- It’s not about “perfect.” It’s about “effort.” And when you bring that effort every day, transformation happens. That’s how change occurs.
- Jillian Michaels
[0:15] America the show that teaches you how to make money in real estate wherever you are whatever your situation there is an opportunity for you flipping America is sponsored in part by American IRA
founded by investors for investors on the web at American Ira. Com.
And by Braswell Capital Solutions commercial lending made easy on the web at Braswell Capital solutions.com,
and now you’re sad flipping America guy Rodger Blankenship.
Alright sports fans the World Series is over and it’s time to stock up for the winter now I’m not referring to groceries
I’m referring to inventory if you’re in the house flipping business pretty much anytime is a good time to buy if you’re buying right you know just the other day I was talking to someone in my office and,
he brought up the point well you know what what do you think about the market and getting ready to change and all this and you know
things are slowing down and the market is cooling off and where’s it going to go and we got the midterm elections and I listen to it for a minute and then I just said you know what.
You can take whatever situation.
Is happening in the culture in the country in the economy in the housing market even and.
It you don’t disregard it but you adjust your plan according to it because whatever is going on.
[1:45] You can make it in this business if you buy it right,
that’s to keep books you’ve got to buy the property right anything that you’re doing whether you’re buying rentals or whether you’re buying industrial properties you got to buy it right that is the number one biggest value-add and if you buy it right,
kind of hard to mess it up now I will say that it is still possible to mess it up if you do a terrible job with your rehab work or the things that you’re doing to force appreciation into the project or to add value to it if that you’re playing,
it is possible to mess it up but number one is buy it right number 2 is fix it right if you can Master those two things then you’re going to consistently do well in the real estate
business hi everybody I’m Rodger Blankenship I’m the flipping America guy and I,
people how to make money in real estate thank you for joining us today we’re on the air 3 times a week Nationwide
on am and FM stations all over the country and also on iHeartRadio and on The Flipping America app.
[2:50] We don’t encourage everybody to drop what you’re doing and start flipping houses like you see on TV
it’s not for everyone but we do encourage everyone to have real estate as a part of the balanced Investment Portfolio so our show is about much more than just flipping houses and I want you to know that because for the last,
couple of weeks and probably for the next couple of shows we’re going to talk pretty much about flipping houses because we got an event coming up this weekend here in Atlanta Georgia actually it starts tomorrow and it’s called flipped starter.
[3:22] I know it’s a little play on words of the kickstarter thing and all that but it’s flip starter if you want to get started fixing and flipping houses now it’s not too late to register but it’s almost
too late to register your really if you’re not from Atlanta you’re really pretty much have to do it today and make your travel plans and get here.
[3:39] Because we start at 5 p.m. right on the dot tomorrow Friday November 2nd,
5 p.m. we start at the Hilton DoubleTree in Marietta Georgia.
[3:52] The details are all on the website you can go to flip starter event.com you can go to flipping America network.com you can see it on our Facebook page just about anywhere you go we’re talking about flipstar and I make 3
clear and consistent promises with this event promise number one I’m not going to tell you everything you need to know about the house flipping business the reason is I can’t do that in 10 hours that we’re going to have together over Friday and Saturday
but number to the promise number 2 is I am going to tell you everything you need to know to actually go out and start your own business we will cover everything from Soup To Nuts how to form your own,
business how to look at a deal how to analyze a deal how to find the money for the deal how to make sure that you fix the deal correctly how to hire a contractor how to find a contractor how to vent a contractor how to supervise a project
all of those things are going to be covered in the short amount of time that we have together this is a course that’s very similar to courses that other people are charging $30,000 for
and it’s unbelievable to me and to anyone else that has been to it that you can do it for $199 but yep that’s the price is $199 and you just go to Flint starter event.com or putting American network.com and you can register
now there’s no secret that some that come to this course are going to want further mentoring and want to be a part of the flipping America family.
[5:18] You provide that opportunity but there’s no pressure to do that in fact quite the opposite it’s an invitation-only deal.
[5:25] We are looking for some Partners to join with us,
but unlike the commercials being run by the gurus that doesn’t mean anybody who’s got 30 to $50,000 to spend on some additional training nothing we have cost that much money but also
we’re looking for people who seriously want to join the flipping America Network of investors,
but we’ll talk a little bit more about that when you get here in the meantime if you’re looking for ways to.
Get involved in real estate investing where you are and you can’t make it to flip starter we’ve got some resources for you first of all go to flipping America network.com.
The website full of resources for you.
And that we got a couple of RSS feeds that give you the latest information and breaking news with regard to real estate and I know you’re sitting there thinking breaking news real estate I don’t ever hear real estate headlines
very often now you don’t that’s true but things are happening in real estate all the time.
It just doesn’t kind of get the attention is the latest Scandal or who killed who.
Kind of things that make the evening news but things are happening a real estate and it will pay you to pay attention if you want to be in this business if you want to be thinking about your own relationship was real estate it would be worthwhile for you to come on over to flipping America Network,
How come every once in awhile. Scroll down to the bottom of the homepage and just start clicking on some of the Articles and see what’s happening now.
[6:50] If you want to even easier than that just find us on Twitter and Instagram by following
at flipping America at flipping America is our handle on Twitter and Instagram and many not all but many of the stories that we read and think about
here at the Bank of America will get posted on those feeds so you’ll see the things that we are seeing you won’t see everything that were saying because some of the things that we save you know we have to.
[7:17] Pay a subscription price access the data and we can’t just go around sharing all that with you because you know then you have to pay,
but the stuff that we can see for free and that we think is useful or interesting or humorous we put it out there on social media and we’re on Twitter and Instagram and Facebook
look on Facebook look up flipping America media we’re on YouTube we have a YouTube channel some of the interviews that you hear on this show
I’ve also been recorded via video
and they’re available the latest video that’s been put up is the show we did just a couple weeks ago with Shantel Owens the entire show she came to the studio
is first time we’ve ever done at the only time we’ve done so far but she said in the studio and we recorded our interview with Chantel about tax liens and that was a lot of fun and you can get a lot of good information just head over to
flipping America on YouTube and listen to that we have a profile on house for whatever it’s worth we’re on Google Plus Rob LinkedIn where everywhere but,
some of you I know I hear from you you don’t do the social media I get it that’s all right.
[8:22] Some of us are not that interested in what our neighbors are having for supper.
So I understand but you may have questions about real estate and if you do we will answer it.
[8:34] That’s a place we made from the very beginning we’ve answered every question that’s ever come into the show and we plan to keep on doing it for as long as we can,
now if you flood us with 10,000 questions every day if we might have to put up a frequently asked questions page or something on the website but for now
we’re answering every question that comes in and our commitment to do that for as long as we can you can send your questions to questions at flipping America Network,
how come it can be about any aspect of Real Estate.
Perhaps not even investing related but just about your own house that’s okay we’ve on houses that we live in two you know and we are happy to help
we are here to help
and it’s a service that we provide for you and a way of thanking you for tuning in if you don’t want to do or don’t have access to email
you can call us 404-369-1018 extension 1
and just leave your message or question and we appreciate all the comments by the way and and thank you for the thumbs-up and and the Kudos we appreciate all of that tree encouraging and motivating
great to hear from you and of course you can also if you’re at the website on every page.
[9:49] At the top of the page there is a blue bar that says click here to schedule a free strategy session this is completely free and what we do in this session is ask you some questions to help you figure out.
Your best relationship was real estate investing.
[10:08] Perhaps where you should go for have some resources that we can point you to to help you out,
because that’s what we’re here for to talk about Flint starter it’s tomorrow and Saturday here in Atlanta Georgia,
lunch every Wednesday every Wednesday in Atlanta if you’re ever in Atlanta on a Wednesday
and you need to make some lunch plans just plan to come to Sandy Springs and have lunch with a flipping America guy if you’re from out of state and you come up and tell me that you heard about it on the show and,
you’re here because of it your lunch is on me alright,
get free Mexican dinner for lunch what’s Mexican for now we’re looking at other places because we’re about to outgrow Huey Lewis We Love Huey Lewis and appreciate all that they’ve done for us and what they provided for us but I’m the room just
almost isn’t big enough so while we may be moving after the first of the year all right.
Couple or announcer what’s the flipping America apps in the App Store you can listen to the show read the show notes in the entire catalog of shows is now available to you this is show number 203
and it’ll be in the app and in the available for you shortly after it goes to air later today.
[11:24] There are no up cells are in are in app purchases it’s free download free to listen go ahead and try it and drop me a line and let me know what you think.
[11:34] Want a quick analytical tool to tell you how strong of potential Fix and Flip deal is download the property grade app you can answer 10 simple questions about the property in the app instantly tells you what you can expect to make
do you return on investment your return on cash and then the program gives the project a letter grade
using the proprietary flipping America investment property grade algorithm we’ve got a terrific show coming up for you today I’m so excited about what you’re about to hear coming up first Jane Garvey
who is one of the leaders of Chicago real estate investing we had some technical difficulties the other day couldn’t get her interview into that show but we’re finishing up our focus on Chicago by talking with Jane and we’re going to have to come back and talk with her because we just ran out of time but after that Benson Juarez with
privy real estate books you got to stay tuned this is one of the greatest tools I have seen now I know it’s kind of just
promise but then it’s already out there and it looks like it works great they just unveiled it for the Atlanta Market I am so excited about privy of a tool for Real Estate Investors stay tuned you got to hear it.
[12:52] Have you ever seen one of those Fix and Flip TV shows and thought to yourself I could do that or even better I’d like to do that.
But there has to be a way to get started that’s what we will do for you at flip starter what starter is our 8-hour course designed to give you all the information you need in order to get started in the business of fixing and flipping houses and Roger Blankenship.
The flipping America guy who is fixed and flipped more than 800 properties over the years.
I will share with you the tools I developed for use in my own business the strategies the management techniques and the systems are used to build a business that was flipping a hundred properties for year.
[13:28] What would it feel like if you could quit your job and not only work for yourself but own a business that will ultimately provide you with more income and more free time.
[13:38] My goal is to train the next generation of real estate Millionaires and I want you to be one of them.
Find out more at flip starter event.com call Bennett and I attended Roger Blankenship split starter in April of 2018.
I thought it was amazing I put pages and pages of notes and I just want to recommend that you go to it because in my opinion,
information that he gets on contractors alone makes it worth the price but that’s not the only thing that he talks about I highly recommend that you attend his foot starter it’s worth every dime.
[14:27] Jane Garvey welcome to the show.
Thank you for taking time out of your schedule to join us today I’m flipping America you are the president of the Chicago creative investors Association and you’re the northeastern regional vice president for the Illinois rental.
A Property Owners Association
and you’ve been involved in real estate real estate investing for quite a long time and so it is really an honor to speak with you and and just to get your insight into what’s going on in Chicago and your section of Illinois
as we focus on Chicago on Today Show what does the Chicago creative investors Association do.
[15:09] Real Estate Investors through education motivational on networking both by meetings as well as information we provide online and and I mail your like a normal Ria.
We’re like a normal real been around longer than normal Ria’s what’s that indicate what’s what’s that all about.
I believe people need to get creative in their Solutions when you’re dealing with the stressed-out owners.
Listing to the problem and figure out a solution is better than just trying to apply a cookie cutter to them and your own problems as a real estate investor.
[15:53] Ocwen financing as well as solving ratio problems.
I think involve some creative thinking as well so I just it’s out there trying to get people to think creatively.
Okay and so do you teach some of these creative strategies yourself.
Oh okay the traveling Guru all right we have a mutual friend and Gordon cats and I think he’s a traveling Guru to and
and of course he recommended I get you on the show and I’m so glad you did so you could you guys engage in subject to purchases and mortgage wraps in those kind of things that what you mean by the creative financing
list some of the creative financing start something seller financing.
Owner seller financing for people that are buying lease options all of those kinds of things okay person’s problem.
Right and you know that is my favorite approach to.
[16:54] If you want to call it negotiation when we’re talking with the seller I don’t even want to think of it as the Goshi ation because that implies you’re going to use some techniques for closing strategies I like the idea of solving the problem.
And you know most people don’t really buy that house intending for it to become the problem but it does happen in life right,
alright so you do the courses and so forth and you said something you said motivation how do you.
Motivate other investors.
Most of my strategy is just getting the room too involved with beginners and experienced people they finally experienced people motivate the new people by showing them people could actually do this.
And the new people motivate experienced people who are disgusted with a tenant that they’re trying to evict door contractors not doing what he supposed to do the enthusiasm that the new people bring.
Provides that motivation the collection of people providing the motivation,
okay I know that’s good that’s actually I think you’re right that’s how it happens how do you guys deal with the the guru’s the national gurus coming through town 3 or 4 times a year Well 3 or 4 times a year is.
[18:14] Minimal compared to what they actually do here oh really yeah there’s almost any weekend you can find somebody doing something as a national Guru.
We invite some natural girls to our meetings but we selectively pick the ones who provide as much education as possible in the process.
We try to avoid people who are going to be selling young huge dollar ticket.
[18:38] Items stick to reasonably priced education as far as the National Bureau said it’ll independently do their advertising and pull through town.
[18:50] Most of the time I ignore him sometime saying if it’s something I’m interested I’ll go and I’ll talk to people.
You don’t want to get on their bad side,
are you staying here at this a long time what are the changes you’ve seen over the years you’ve been involved the big changes,
in real estate investing in general or maybe in the in the market in Illinois in Chicago.
[19:18] I go back long enough that I saw the Savings and Loan crisis and the tremendous.
[19:25] Problems that caused as well as opportunities at Quest on the back end.
So when I looked at the 2008 Market 2007 and 8th Market it was somewhat of a repeat.
[19:36] God created more by the marketplace than by the government savings and loan crisis was created by the tax reform act way back when.
Not that anybody would publicly admit that the government the best basically what happened.
The change the tax laws retroactively to change the market for everybody in the Chicago Market I’ve seen.
[19:59] The fact that 60% of Chicago residents are tenants.
[20:04] They have they can roll it chicken coop basically yeah that happened back in the late 80s they provided the Chicago landlord tenant ordinance.
Which became a huge problem for landlords that still is a huge problem for landlords.
Turned a lot of the landlord tenant attorneys in to tenant attorneys advertising every time can we review your lease and then going after landlords for huge sums of money.
Challenges well as for the attorney so it’s a scary place to be born.
At the time I was intending to invest mostly in Chicago I pulled out of Chicago or economy has been.
[20:54] Get by all the corruption Illinois snoke known for its corruption were probably the only state in the Union that three of her most recent for Governors are in jail.
Wow that says a lot and we’ve got a guy running for governor at the moment to want to be in jail based on some.
[21:15] Fraud that he didn’t the property taxes I’m saying that live on that’s okay.
Anyway we’ve got problems with ethics in our government and.
El Centro property taxes are way out of control or pin.
If you want around property in Chicago 3 and 1/2 to 4 months worth of your rent goes towards taxes.
[21:42] Leaving for class for other expenses and maintenance them you should hang out with all of these disincentives to owning rental property in Chicago is there a shortage of rental property in Chicago.
[21:55] Actually at the moment. So 6% vacancy rate.
Because they can’t afford their own attorney on staff to watch the the laws and to keep some safe for mobile.
[22:16] And stuff that’s going on okay well yeah you seen a lot of things change over the years and where do you think it’s going for 20.
19 both in terms of where is the market going but also a lot of people are listening to us right now maybe summer thinking about investing in your area there in Northeastern Illinois.
Where should they be thinking what segments are are are issues or maybe they should be flipping houses or berries to avoid what what do you think,
I think personally I think that anybody is thinking about investing here should be investing in something that they can change the use.
You don’t like a condo that if they’re planning on renting it out be able to change the use cuz there’s a rent control initiative going on in the state.
Which is a game games of the format of the pass we’re all in trouble here it’s really young horrendous bill it’s been proposed.
If you can change the US from rental condo to owner-occupied condo.
[23:17] Hopefully you can escape from this art sometimes I think the other area of opportunity is.
[23:24] I am finishes on step down type of housing so the people that on the big mansions in other,
awesome things are paying property taxes at the high-level that they no longer can deduct on my federal taxes so they accepting used to be able to they’re starting to downsize.
Baby Boomers moving down in housing and there you are going to be spending money they want to be spending money on something that they’re going to be threw up a little bit.
So you know your moderate three bedroom two bath house in the 1800 square foot I think it’s an opportunity area.
[24:04] All right so the play is to get that to come to your area and flip houses and and and buy some of these less expensive houses and make them really nice but if you want to rent do it in Wisconsin or Indiana are Missouri.
Once you go someplace where you have to hire somebody else to do Property Management you can go anywhere well that’s true alright well tell us will get in touch with you they want more information.
Well her website is CCA info.com phone number here is 630-858-4663.
If I made it home okay Jen we got a lot more to discuss we just had a time for today but we’re going to circle back around in a few weeks and get you on the show again okay.
I’m great thank you very much Jane Garvey and will see you again very soon on the show.
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[25:51] Larry Lucas and I’m a student in Rogers.
Mentor program and I’m happy to say I’m working on my very first house we see this house gilding.
[26:06] Maybe $70,000 in profit but flipping America mentoring program is the only one that includes.
[26:17] Financing your deals so the mentoring program does exactly what.
The contracts to do Rodger and Andrew and the other fellas in the team Tony have been super in providing oversight and guidance flipping America.
Has been the.
Vehicle that is allowing me to achieve my dreams and becoming a real estate investor.
[27:32] Vincent Juarez welcome to the show.
Thanks for having me Rodger glad to be here you are providing a service that investors need.
That’s all I can say we need what you got my man some of your videos that you have that out there on your YouTube channel and what you’re doing is something you know because one of the biggest
most time-consuming things that we do is try to figure out how to get the value of a property.
Without having access to the MLS because we are not Realtors so tell us a little bit about the product what it is and and I just Dive Right In.
[28:13] Yeah absolutely so the products is called privy and we’re web-based software application and we basically we get data agreements with MLS is all across the country and with this allows us to do is allows us to provide this information.
To our user base which end up being Real Estate Investors hard money lenders real estate agents,
anybody who’s in and around the space that needs a really determine the value of a property and with the Astra per value of that property is going to be.
[28:44] Prince been identified in been fixing flat.
It’s all in the past people where you know left on the run to try to figure out how to wire up now prepared value from maybe their agent Maybe
some random website it’s consumer-facing it’s for people who are trying to buy a house to live in order from you know somebody at the Rio hotels in what the house is worth so that’s just no way to run
business is no way to run an effective business is going to give you business life results where we were making money,
like a hobby right they just do it whenever they get you know a wild hair up your butt or whenever they go to really get excited to go home and now they want to invest again but unless you put in place a practical business business solution like pretty,
it’s always going to be it wasn’t getting results that our business like and so we built this platform.
Not many years ago I’m an agent here in Colorado and we built it out of a problem we’re trying to solve for a self-serving investor clients were there just wasn’t enough hours in the day,
to find deals to analyze them to look at Ambassador activity to see what properties are being purchased for what they’re being sold for.
[29:56] So we thought there had to be a better way to do it and pretty was born out of a solving no solutions for ourselves as focused agents.
All right now. I’ve done a little poking around that I haven’t,
you know I actually used it as a user and I can’t wait to do that I’m going to I’m going to do that very soon.
[30:22] You’re looking at an old house a 50 year old house and it badly needs upgrades and you’re looking around the neighborhood and there’s a bunch of other 50 year old house or some of men been rehab some of them not.
How does your software know the difference and tell us what what to look at.
[30:39] Well there’s a lot of data points in the MLS that come into our system on the majority of them are just useless when it comes to making a quick data driven decision.
I’m investment right lot of business for Asian so they can sell homes so we boil down.
[30:54] The universe of data into the most important data and then we fell through algorithms.
So that users can actually see the most relevant data for looking at the major property characteristics,
to find out what’s a combo it’s not a common lot of people say oh I just want to pull comps but they don’t really think about what a comp is come ashore for comparable comparable meeting similar.
And so we have to eliminate properties that aren’t similar enough using the algorithm to get rid of stuff that’s too big too small and too far away and not the right property type property Style.
Let’s go out the door and then we leave what’s there and it knows your cops right and you have all the different statuses
that your sold active under contract and all this data is Liv and presented to you and I size trunks because we have a report of comparative market analysis,
any updates in real time you’re always look at the most up-to-date information you put it on a map it’s nice visual it’s not some spreadsheet it just you know.
Sexy an initiative bunch of numbers you put it all in this really nice user interface and we give you all the information you need to be able to say okay this property is worth this much
its current condition this property is going to be worth this much if he picks it up and it’s all done through the algorithm so that does the majority of the work for you but.
[32:14] Did any system you never want to eliminate 100% of the human element.
Because of the user has to determine if that comp did.
27 miles away but it’s on the other side of the railroad tracks is that a compound and not a cop.
And the only the person knows they have to have a level of Education experience to determine that but we’re going to give to that point in the day does have to take that an extra 5 or 10 yards across the finish line.
[32:42] Sydney okay this property is worth this much but we’ve already done 90% to work for him.
Okay so this does this take into consideration adding square footage to the house because we run into that a lot these older houses in Atlanta.
[32:56] Right so will you have a 20% Delta plus or minus on what comps are okay so you can actually.
What’s the algorithm in look at other opportunities in the market by using the flexibility that we built into the system so we allow you to look at other properties that maybe would make a good scrape opportunity with the starter.
We only show you like properties but we might show you a two-story home is in the same area if you want to look forward to call Pop Tops.
Are you rip the roof off your eyes additional square footage is part of the renovation project we got a specific filter for that.
Also got a filter for teardowns and scrapes so if you wanted me to find an older homes built in the 50s and there’s a new construction in the area we’re going to show you those,
as potential opportunities.
What are the major differences the what we do what we do well as we allowed the user to determine what a deal is to them so they can say deal to me is a property that is at a 40% discount.
[33:57] Is 60% of the after repair value maximum is for sale for this price range in a less than $200,000
and makes XYZ criteria will go out in the algorithm will filter the entire market and find only those properties that match their specific deal criteria.
Okay now the very first video that I saw you were and it was you talking.
You were talking about we were looking at the Washington DC market and you were looking for an area in the market where there was some significant investor activity tell us a little bit about that process for the people in seen that video.
[34:39] Yeah it’s an important step in the process of really
optimizing your finding analyzing of deals in the past it was basically impossible to have any sort of,
data-driven decisions when it comes to invest right tivity people just knew what they heard through the grapevine,
or they could see by driving through a neighborhood looking for roloffs looking for Crews working on Holmes it was all just a kind of anecdotal but now is data we can actually go into the MLS and extract
the before and after data for a transaction we can tear that up Trey the before and after pictures you know where they spent their money
we also should you time lapse how long was that property under construction.
What is the do they have bedroom square footage bathrooms what’s the best way to Target that area and get the most money out of it.
You will look the best off the before and after pictures you can now see what level of construction there is this an area where you can get in and do a rental grade rehab
what do you have to do custom everything with Viking Appliances in Sub-Zero freezer.
[35:47] Working just get away with Jennifer Micah and painting the cabinets and putting the tools so we show you that information so you can make better decisions and all of that stuff is investor activity now we start off with a,
are you can do a search on the say the DC market and say show me every Fix and Flip it happened in the last 12 months where they purchased it at a maximum of 70% of the after repair value and also
where deals are getting done and then you can zero in and get the data on each specific transaction to find out what’s working and what’s not working in certain areas.
[36:24] And we also give you filters to Target those areas inside the previous system so you can track those automatically using the algorithm this and the automation that we built.
So you’re getting alerts whenever this in your Fix and Flip that happens give me an alert whenever this new property that’s a deal you should buy this in an area that has high investor activity because.
Best activities the key if you don’t have a best directivity in an area you’ll never be able to fix a house up and get the maximum amount of.
Money out of that finger at someone else in the neighbors already done it you can’t be the first guy to do it otherwise you’re going to become an accidental landlord.
[37:01] Yeah that’s that’s a nice way of saying it
okay listen I have been around a long time and I have tried a lot of these different solutions and I have spent and wasted
thousands of dollars I’m not kidding you maybe tens of thousands of dollars subscribing to this kind of stuff and I am going to tell you right now Benson when you first schedule to call with me and I found out what it was about.
I was skeptical because I’ve never seen one of these that actually works a lot of Promise a lot of hype and it’s just doesn’t measure up but man oh man when I started watching your video
dude if you guys deliver on this you are going to take over because this is incredible,
it I’m really stoked about this as any product that are our service I’ve seen for investors
ever since I’ve been doing the show and all the time that I have been investing can’t wait to get my hands on it and you told me before we came on the air that
you guys just signed a deal and you’re now in the Atlanta Market Amorite.
[38:06] We are yep we just signed a deal with Georgia MLS in that gives his access to a huge part of the Georgia area
you know that most investor activity happens within the major metropolitan areas near there is some out in the in the suburbs and rural areas and you can get those deals done but.
It’s harder because there’s not as many examples of Fix-It what’s happening so you have more success the closer you get to.
The city center and that’s just the way the business is so we were targeting major markets first so Atlanta getting ready to launch Charlotte,
which is at its own MLS plus were in North Carolina were doing a Raleigh-Durham Salem
the Salem area and then you know Kansas City Missouri is coming soon Indianapolis Miami and then we’re just lining up the market so our users what’s cool about it
not only just invest in their own local market or they feel comfortable but now they can start to realize we should I can go to the next town over.
Brink of the next state over I can go to the other side of the country and do what I do and feel comfortable with it because I know I’m looking at data that was going to be one of my questions if I’m subscribing am I limited to my local area it sounds like I’m not I can go anywhere you are.
[39:22] You can but it also depends on which plan you pick sweet different plans
and busy if you pick our what’s colormaster membership plan it’s part of our annual subscription
can you get all of our current markets in our future market so you get to grow with us as we launches markets all across the country okay that sounds good now I know that a lot of people right now are dying to jump on your website and find out.
Where is whether or not you’re in their city so we got a break in 30 seconds so give the website and we’ll be right back.
I hits www. Get,
privy now.com and privy spelled p as in Paul R I V as in Victor y.com like you’re pretty to information.
Get pretty now.com.
Www.get privy now.com I’m talking with Benson Juarez from pretty and when we come back from this we’re going to talk a little bit about how this came about and what the future is where they’re planning to be so.
[40:30] We did a one-day flip starter in Chattanooga Tennessee and low and behold one of my old College friends came out to the event his name is Peter Faulkner and here’s what he had to say about the event.
[40:42] Peter Faulkner here I send it a one day flip starter training session led by Rod.
[40:49] And I was amazed to see what has happened in Rogers Live from the last $15 plus years flipping over 800 houses and then this one day.
[41:27] You never know what’s around the corner but you can be confident that you’ll be ready for whatever comes your way Legal Shield and ID shield look out for you so you can get back to living well
LegalShield is a prepaid legal service for individuals
businesses for a low monthly rates you get comprehensive legal coverage professionals they can help you with a variety of issues and provide advice whenever you need it.
Protected for a number of legal issues and assistance with common legal needs just go to Rodger b helps. Com right now to sign up that’s Rodger b.
Dot-com Legal Shield protection for every part of life.
[42:31] And we’re back on with Benson Juarez from pretty pretty is the you know how do you say this in just one sentence your MLS for investors.
[42:41] People call this a before we don’t call ourselves that we call herself a real estate investment software platform okay we do a lot of things out.
[42:51] People uses for all different reasons and all different levels in all different categories in investing.
You know we got wholesalers that use as just analyze their off-market deals.
Right they can pumping address right into the pretty system will kick back alive comparative market analysis they can determine the area quickly.
And get a lot of valuable information that they can share with their buyers list really to separate themselves from other wholesalers.
I got fixing flippers who love us because you’re there right now they’re cops they’re trying to determine what kind of construction they’re going to be doing how long the process takes.
And so we give them all that information by and hold investors love us because there is this / method that BiggerPockets is making really popular which is you buy it.
From the perspective of the fix and flipper.
But your exit strategy is out of a bind hold Master chicken in the best of all worlds you getting the equity built into the property right from the get-go you got the cash flow and now you got the appreciation and depreciation of asset
all-in-one my soul package so they love us too yeah I got news for you on that one Benson there’s nothing new about that,
as far as I’m concerned that’s the only way there ever has been about rental property but please do continue.
[44:05] And it’s to the point they’ve basically just made it popular and they give you the name yeah it’s funny to that a lot of people don’t know that it is a method.
But they come across it like all of his new way of the nesting you’re right it’s been around forever if they just didn’t have an ISO acronym for it which which BiggerPockets did.
But you know what and then
all experience levels New Deal measures really loud because they’re still learning react
or some Guru comes through town and does a pitch to him and then settling our,
okay it’s in there mind frame real estate investing has and how do they get there will they start reading books and watching podcast listening to you know,
watching video blogs and other stuff its online reading books but there really is nothing that teaches in the nuts and bolts.
That’s the Gap that pretty feels we show them the actual deals at beginning on their Market.
Before that system like ours there was just never way to do it without going out there and just doing it learning by by doing and that’s how people make mistakes lose money.
And get into some kind of not-so-good situations.
So we fill that Gap with with the Newbie people now with the boys I just talked to a guy out in the Baltimore area he’s doing.
[45:32] I just helped him said his system up to optimize this was fun in the exact properties that he wants and so now he’s looking to do 50% more properties next year because of the pretty system so I’ll.
Specs when you use it pretty system in that way he’s buying basically properties off of the MLS right.
[45:52] Yes that’s another big misconception about
the real estate investing it out there that you can’t find deals on the MLS and we went in we were in The Ransom numbers recently we were putting together as some would call him market reports and in the mail,
in the last 12 months Atlantic region is DC Maryland Northern Virginia versus Southern Pennsylvania and Jersey there was 870 million dollars
gross profit that was done just in the last 12 months and the average profit for that area was over $140,000
and there were I want to say there was 7000 + transactions.
[46:34] I have to confirm those numbers but these are all deals that are getting down there bots on the MLS from the amounts are sold in.
That’s great now a lot of people just say okay well that’s fine but I want to do off Market stuffing that’s great.
Because I thought you just bring those off Market opportunities to privy you put them in in in our let our automation algorithms pump out the line CMA so you can properly analyze it.
Yeah I like that now you guys are ambitious and you’re planning to be in all the major markets in America pretty soon eventually right.
[47:10] Yeah very ambitious very aggressive we want to be our goal right now is to be in have 80% coverage in the entire country within the next 12 months so that’s why hitting the med the major metropolitan areas,
you know where those majority those deals are at so you know we are looking for partners in different Market early.
Whether you are an agent or you are a real estate investment club or
somebody like Rodger who has a bigger audience you want us to come to your Market let us know and would love to partner dropped because those opportunities help us prioritize where we going to next cool once we have to set him up,
in a linear fashion and get everybody setup to to go to but it we’ve got people who say come here we will help you well that might incentivizes to go there first.
what I’d like to do for a minute if you don’t mind just indulge me a minute I’d like to get a little personal because I always have a little fun with this with everybody that’s on the show because I
rarely meet anyone in this business who always just wanted to be in the real estate business so here’s a question for you when you were little kid what you want to be when you grow up.
[48:24] I want to be hard to text okay that’s related.
Yeah it’s related but I was had business Acumen like I was the kid that would go and ask my mom to buy me a 10 pack of bubblegum.
And I take it to school the next day and I sold each pack or two box to my body’s so I was like getting very young age was already learning like business and sales.
Let’s have a big difference in our age because when I was a kid you buy a pack of bubblegum for a nickel.
[48:54] Yeah yeah I’m 43 now until I was I was making good cash back can you buy those big Tampax you take them and then you just you’re selling them on one-offs and plus it’s it’s scarcity no one else has gum opportunity and you know
it’s demeaning look cool cuz now they have gum and nobody else does so you know the demand goes up and so I was able to make some cash doing that
but I’ve always been kind of paper up when I was 12 years old did that for 4 years and then I got into I had like 4 jobs in 1.16
just pulling all the money in Islam money buy my first car.
You know it always was thinking how do I take money and do something good with it what college are at Colorado State University I got my degree in computer information systems so it was in the environment.
I’m starting my first business when I was in college I basically did I nutrition like GNC.
[49:55] Nutrition stores stores we had an online presence and then I sold my interest in that to my business partner.
I was moving on to the next phase in my my entrepreneurial career and then 911 happen.
And part of it what I did done to help fund my college was to join the military so I got activated and had to go and do some military stuff for a while,
but that was my interest when my starting real estate I bought Carlton sheets.
[50:30] Your package whatever it was called listen to that when I was on base on my earphones to learn about real estate and.
I got into Lenny mortgages and then she started doing hard money lending. License as an agent arguing fixing flips and then.
So everything is kind of came together real estate investing and then technology and every all of my interest came together in one thing and that’s what pretty does for me.
Okay one thing Colorado State you much of a football fan.
[51:02] I’m a football fan yeah the Rams right okay and you watch me are you know that I haven’t been go look that up my bobo is your head football coach yes.
Yeah he’s had some health issues recently I’m hoping it’s better soon but I’m I don’t know Bobo’s history I’m assuming that he’s from back east and he had some influence and something out in Georgia.
[51:27] Well you would be gassy right Mike Bobo was a quarterback for the University of Georgia and then before he went out there he was offensive coordinator under mark richt.
Georgia and I haven’t really followed them closely but yeah Rams buffaloes I know your Colorado you do in the college’s I do bro
Saturday comes on I got a game on you know it’s it’s there it’s in the background care who’s playing I just want to see a close game I want to see it shoot out well there’s going to be a really big battle in the SEC Saturday night,
you know I’m Alabama and LSU game yeah
privy was a natural fit because you had the the technology chops and the attention to detail that any architect Business Center so you put it together there and how long ago did you launch pretty
when do you start he’s our CEO and him and I were both real estate agents in the same,
real estate office we focused in my office listed properties during the draft for the downturn for banks so we had Bank listings for locate Fargo and Hyde
and Chase and a bunch of the major Banks and so what happened is we had the phone’s ringing.
[52:56] I’m sure besser for calling in constantly trying to get access to our deals.
[53:00] That’s what I told you earlier we were trying to find Opportunities trying to analyze all these deals for investors in.
[53:08] So Scott and I were talking looking for ways to do business more more efficiently more automated you noticed that the more we called REI hacking you might have seen that hashtag that we use REI hacks,
and this is real estate investment hacking it just means it’s faster more efficient technology-driven approach to real estate investing because the old ways don’t work as well as they used to and they take way too long
it’s risky and a lot of guesswork and so we wanted a way to eliminate a lot of stuff and just make everything,
better in the help our clients that was a reformer from the gecko is about providing more value to our clients because we could.
Support so many clients balls and so we were able to add more people to our
are funnels help more people in this is the same way for Real Estate Investors today they can only do so much lot of these people are doing this our time so good on weekends and evenings after they know they talk about their family responsibilities
and so you can’t get those business results unless you figure out a way to optimize and also I’m automate.
[54:19] A bunch of stuff that needs to get done on a regular basis otherwise he dropped balls you make mistakes in this business is already challenging enough
everybody’s trying to do it and if you don’t put in some systems that are going to help you do it better then you’re just saying you’re setting yourself up for failure
yeah and we’re all about sending people up for Success so appreciate you been sitting in your vision for what you’re doing I know you’re already helping,
a lot of investors and I want to do what I can to help you help thousands more alright,
thank you I’m looking at work to it we really excited to work with Rodger and flipping America and in foot starter event.com if that’s all really exciting stuff and I’m excited to get you your account to use in the Atlanta area.
Yes what is cause I’m really excited cool thank you Vincent Juarez for joining us today everybody head over to get
privy now.com that’s get 3v now.com check out there different levels and enjoy the day and start using it if they’re in your area use it now or sign up for the future but if you get a chance,
drop-in center line and John heard about it on Flipping America Benson thanks for joining us thank you I appreciate it Rodger.
[55:33] There you have it my friends you got to go over to get privy now.com get privy now.com,
and download this they’re going to send me an affiliate link later on and then you know whatever whatever I’m not worried about that I just want you to get this going find out if it’s in your area
go watch the videos because when I watch the videos
my skepticism turned into real optimism I’m excited about this product and I’m going to be talking about it more
as I get the opportunity to use it here in our own Market here in the Atlanta area and also with some of the things we’re doing another markets around the country.
[56:12] I’ll see if I can get a couple questions in before we get out of here today Curtis from Murphy North Carolina says I have a neighbor who inherited his mom’s house over in Franklin he doesn’t have the time to fix it up he says it’s not bad but his mom lived alone the past 15 years and there are several minor things that need to be fixed he just wants it gone
he doesn’t want to rent it out every month in the payment just comes
it doesn’t want to rent it out and every month the payment just comes out of the estate the loan balance is a little more than 83,000 it’s probably worth about a hundred and ten thousand this seem like a great opportunity until I listen to a few of your shows and learn some things about the numbers
do you have any suggestions I’ve been wanting to do a deal but just don’t know what can be done here and now I’m.
RT mask off line and the payments are $476 a month principal interest taxes and insurance in the fair market rent is 750 the
repairs to rent ready, conditioner estimated at $6,500 so there’s 10 years left on the lawn are we got that information later so I can bring this answer to you and the answer Curtis is for you to do a subject to.
Property this is an ideal situation for a subject to purchase because they’re not behind on the loan they just never want to have to fool with it again,
you can actually buy the house and put it in the name of your entity take over the loan.
[57:33] And they never have to think about it again and there have to fool with it again because you’re going to commit to that $476 payment from now on.
And you know we’re going to run out of time here in a minute there are some other things that are involved in the subject to purchase but.
[57:51] We’ve already been in touch and and supplied for you some of the thoughts that you need and little bit of the paperwork the way the contract is written
and that music means we are out of time so Curtis thank you for writing in Jessica will get to you eventually I promise we’re going to answer your question on the show maybe next time.
Thank you everybody for joining in and we’ll talk to you again very soon.
[58:50] Michaels said it’s not about perfect it’s about effort and when you bring that effort every day transformation happens and that’s how change occurs.
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[59:31] You’ve been listening to flipping America real estate investing for everyone if you have any questions about real estate send them two questions at flipping America network.com,
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