Doing my occasional Facebook thing I stumbled across a group called “Leads for Ninjas.” Yeah – I HAVE to join that group. And that’s how I met Kenneth Dusang. He was born in California but was raised in Florida. He worked at state prison there for six years but dreamed of something more. In his words, “My dream has always been to be an investor and entrepreneur so I started researching a good business to get into and came across real estate. It took me almost 2 years of studying and research to get into the business and once I did I knew it was something I would be doing the rest of my life. I now own a few rental properties and I wholesale full time. I am the owner and founder of Leads for Ninjas that provides cold calling services and tax delinquent leads to investors and agents.
It was only AFTER our interview that Kenneth told me that he used to listen to my show when he was patrolling the grounds outside the prison wall. So here’s a question: Would you spend $1,800 to make $40,000? That’s a trade I would make every day all day. This is the type of value proposition Kenneth is offering so you’d better stay tuned.
Also coming up we have housing starts, interest rates, the economy in general, and where in the US can you end up with a mortgage payment of under $1000? Plus, I’m going to tell you about two surprising new tech hubs in the US. Seriously. You’ll be surprised. All that plus your questions coming up today.
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Special Guest: Kenneth Dusang https://leadsforninjas.com/
He provided tax delinquent leads across the country.
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Expected Air Date: 6/6/19
[0:17] 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
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and now you’re sad flipping America guy Rodger Blankenship.
Hey everybody thank you Kathy I was doing my occasional Facebook thing the other day and I stumbled across a group called that’s the real estate group called leads for ninjas.
[1:00] Haha yeah I have to join that group find out what’s going on and that’s how I met Kenneth do saying kids was born in California but raised in Florida he worked at a state prison there for 6 years and
always dreamed of something more in his words this is what he said to me my dream has always been
to be an investor and entrepreneur so I started researching a good business to get into and came across real estate that took me almost 2 years of studying and research to get into the business and once I did I knew it was something I would be doing the rest of my life
I now own a few rental properties and I wholesale full-time I’m the founder and owner of
leads for ninjas that provides cold calling services and tax delinquent leads to investors and agents we’re going to talk more about
exactly what he does and just a few minutes but here is the value proposition I want you to be thinking about
as you consider whether or not to listen to the commercial break Smith listen to this would you spend $1,800 to make 40,000.
[2:02] I want to see it again would you spend 1800 to make 40000 all that straight I would make all day,
this is the type of value proposition that Kenneth is offering so you better stay tuned and it was only after our interview that Kenny told me
that when he was a prison guard
he would often be assigned to patrol in no just drive around the outside of the perimeter of the of the prison and while he was doing that he would listen to
this show flipping America and I was flattered and honored to hear that and so Kenneth will be joining us in just a few minutes
end of the conversation that we had the other day but we’ve also got news.
About housing starts interest rates the economy in general and where in the u.s. can you end up with a mortgage payment of under $1,000.
[2:54] I’m going to share that with you plus I’ll be telling you about too surprising new tech hubs in the United States seriously you’re going to be surprised all that plus your questions coming up today on
the show flipping America contact us the website is Roger Blankenship. Com r o g e r b l a n k a
ship. Com Rodger Blankenship. Com be sure that you check everything out there and we’ve got some more videos that will be loaded up in a few days but.
For now go to the resource page and just check out the ultimate
real estate investing course you’ll be glad you did if you want to know anything about real estate if you want to get into this business
please please please don’t go to the hotel seminar things where you’re going to end up paying $30,000 for a video course from somebody who’s flipped a dozen houses just go to Roger Blankenship. Calm and.
[3:50] Pay a few dollars to listen and learn from the guy who is done at nine hundred times himself.
Also we could buy this on Facebook facebook.com flipping America media and please follow us on Twitter and Instagram.
Flipping America the kids tell me as I call him kids because they’re all younger than me but they’re all grown-ups but the younger grown-ups around here on the team tell me that we need you to follow us on Twitter and Instagram because that means something to,
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how you’re listening to the show because we are on over 50 internet outlets now we’re one of the top rated business shows on iTunes and
thrilled about that but we also have our own app of course.
[4:47] So we like to know how you’re listening so either call it’s okay if you don’t want to email you can also call us at 404-2369
1018 extension one to either call us or email is but please get in touch with us with your questions because we will answer
all of your questions always we always have and we always will
all right let’s do the news first up let’s talk about interest rates a lot of people now a lot of the kind of assert our kind of betting that the feds are going to reduce interest rates before the end of the year and maybe twice
but I just pulled up in a story from CNBC the Atlanta fed president Bostic does not see a rake
at this year like he thinks the market is saying and so here is
one of the leaders of the FED saying that they’re not going to cut rates and a lot of other economies are saying they will,
my money’s on at least one cut this year I think it’s going to happen I think the economy is going to continue to chug along at a pretty good,
I don’t I don’t see any things and I am going to share a report with you on the economy and just a minute and so there are some concerning signs out.
[5:58] But I don’t believe that it’s enough to really finish into a recession I think it is enough that by September I think we’re going to sleep see a slight cut in the,
interest rate so you can say you heard it here okay now that there’s a link to the full story in the notes of course now JPMorgan then I’ll give you a link to this to JP Morgan
Slash’s their second quarter GDP forecast to just 1% down from 2.25% and down from the first quarter of over 3% why are they doing that mainly because of,
durable goods orders okay now I’m not going to do a course on
econ right here I don’t want to bore you with all of this but basically what jdmorgan is saying is they believe that.
The economy is slowing down and they had previously projected that interest rates were going to go up this year and now they are saying interest rates could stay the same or go down
boy that’s really a Bowl prediction isn’t it I can tell you this with absolute certainty you can bet your life.
Fortune on this interest rates are either going to go up go down or stay the same.
[7:14] I don’t know why JP Morgan has so much money making predictions like that alright anyway now
I also promised you that I would tell you about a couple of cities that were surprising Tech hubs not just going to lay them on you here folks this is a story I picked up from Mansion Global they talked about tech hubs around the world and interesting Lee you know you’ve got Shenzhen in China Ottawa
in Canada is now a booming Tech Hub but.
Tel Aviv in Israel and it’s interesting the entire population of Israel is smaller than New York City but Tel Aviv is a booming Tech City but here in the United States we’ve got two cities that start,
sounds of note and they are are you ready drum roll please there’s a little drum roll Los Angeles California.
Not really known for its technology and also this one is the one that really surprised me Pittsburgh Pennsylvania.
Pittsburgh is transitioning from the Steel City to a tech City and that transition is fully blown in underway,
you’ve got Regional Offices for Google Microsoft Apple they’ve all get-out post their Facebook is planning to be there that music means we’re about to take a break folks
coming back we got Kenneth du sang and then a little later on.
[8:47] What’s around the corner
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[10:19] Kenneth who sang welcome to the show thanks Rodger I really appreciate being here today
yeah I’ve already told the listeners I found you on Facebook I joined your group and I got interested in what you’re doing but I want to know more because even though I get between 15 and 19000 leads email to my inbox every week.
I’m always still looking for more sources for deals more opportunities and,
more way to meet people in networking that sort of thing show your website is leads for ninjas. Com which is you know kind of kind of cool it it tells me you’re a young man
that’s all right that there’s room for young people to get in this business where we’re trying to figure out a way to get out of it but leads for ninjas. Com.
[11:08] Background you’ve been a wholesaler for a few years and and you just really open up this leads for ninjas website recently let’s talk first about leaves for ninjas tell us what it does.
Yasso leads for ninjas is a a site where wholesalers investors or real estate agents can,
have us do the cold calling for them.
No being in real estate cold calling is a really great lead source for us and it’s one of my favorite things to do so.
No at least four ninjas did something I started to really no help the real estate investor out by pulling some weeds for him.
Okay so what I get out of your website is Jewel you will pull the leads but you will also call you call people and I guess the Leisure pulling you get a phone number.
Right definitely we we only really Target though I tax delinquent still with leads for ninjas we.
Pretty much offer the cold calling and if you have leads that you want to be called.
[12:16] Are you can upload those to us and we’ll call the leads for you as far as leads that we offer we we do.
Offer tax delinquents in that’s the main one that we offer but the only reason for it is tackling with the really hard to come by.
And we have a real special Source where we can pull them for people okay so you can get can you get tax delinquent leads in Georgia.
[12:43] Oh yes in Fulton Georgia we can there it all is the system we use is real real picky we really have to.
Look for us before we can get an order order play ISO Fulton County Georgia course that’s Metro Atlanta that’s one of the Metro Atlanta counties and it’s the main one.
That’s a big County with the lot of possibilities yeah I definitely,
all right so let’s just say I well I actually live in Fulton County I live right downtown Atlanta all right so let’s say I want to order a package from you.
Tax delinquent leads I want you to get me the leads and I want you to call him for me.
Any idea how many that would be yasso in Fulton County typically.
Every month the county in Fulton update the leads and there’s about 5,000 per month typically that are available.
[13:49] So once what we what we ask is if somebody wants to order some tax delinquents to send us an email for the county that they’re looking for so that we can just double-check to make sure that we have them.
Turn up that will will go ahead and pull them for the client I go and get that email now then I’ve got more phone kind of questions.
[14:09] Awesome yeah it’s leads for ninjas at gmail.com all right please for ninjas at gmail.com all right.
Real write that down here in a minute now you said you got 5,000 leads per month in Fulton County,
that’s a lot if I buy the list am I buying the entire list and and if my next door neighbor over here by the list of they get in the same list or are you going to call him 5,000 people for me and call 5,000 people for my friend Ben.
So with with leads for ninjas.
If a client orders 5000 leads and buys all of those leads out in our system for that month we will actually not resell those leads until,
the following month when are available again,
the Wii U resale the leads all right so yeah you’re going to sell one lead you can someone leave one time in a month okay now.
I don’t think anybody’s going to step up by 5,000 but if if you did what’s the ratio of in your experience of leads I buy two deals I get.
So I’ll give you a quick example within my own business within the Jacksonville Florida area okay I purchased 3000 leads from from my sight.
[15:31] And from there I guess I had them skiptrace cuz the leads they don’t come with phone numbers you have to have a good skip tracing company to find the phone numbers for you.
Once I got the phone numbers I got back about 2,200 phone numbers and since January from that one list I’ve closed about 4 deals off that list okay 3000 leads.
2200 numbers and 4 deals.
[16:01] All right so that’s a that’s a little do you know little bit better than a tenth of 1%.
[16:06] Right and what was great is we are actually able to narrow and filter the results down to Leeds that are also out of state or vacant.
[16:18] All right,
now let’s talk a little bit about skip-tracing because I use one of the consumer products for skip tracing and it’s about 50% of the time but it’s not even designed for Mass
which large numbers like this yet put in each person individually so what are you going to tell me that I need to do for skip tracing or is that something that I can hire you to do also.
Yes 04 skip-tracing unfortunately we are not able to do that at this time so as far as skip tracing the company that I use is called REI.
Okay I’ve heard of.
[16:57] Really really good company tell you if you upload the spreadsheet and you get back some numbers how accurate are those numbers typically,
so with REI skip I found as long as they’ve got a number back is always accurate the only time that.
I guess you can say we don’t get a number back is if a dress is missing you know a word or some numbers that typically if you actually get a number back from res yes it’s actually an accurate number.
Okay now that you mentioned that a lot of people and it’s true a lot of people don’t want to make cold calls and you enjoy it what what is it about you can it that makes you enjoy cold calling.
[17:41] Well I really love talking to people man I love just interacting with people and.
It’s that I guess you could say adrenaline rush it when you ask it when you ask somebody if they want to sell their property and they say yes it’s just that adrenalinn Rush of.
No getting a good deal and I finding deals for people is is.
Really what I love doing yeah but I bet okay now I don’t have to bet I mean no one would take this bad because if you got four deals out of 2200 calls the vast majority of people that you call say.
Something like no leave me alone or how’d you get this number.
Just like that right yeah cold calling you have to really have thick skin to cold call because a lot of people.
I don’t like to be on the phones anymore a lot of people don’t like being called that nobody a stranger especially when you’re targeting.
No vacant houses where you know they’re probably getting a lot of calls already yeah you think that you really think I got a lot of calls.
Yeah I believe what’s up with when you’re targeting vacant vacant homes they do typically get quite a few calls but.
[19:00] In my opinion I believe it’s a lot better than doing Direct Mail cuz you’re you’re going directly to them and.
[19:09] I mean cold calling I know I found is.
Really really good compared to direct mail all right now.
[19:23] You will call any lead lists and we’re going to come back to that but the I guess before I leave this because I know that
I know I can think of the names of about two dozen people that are listening this right now we’re saying all right so what’s this going to cost you know,
3000 names 2200g.
Numbers after the skip tracing what is it going to cost me to have Kenneth provide these names then I guess I’m going to have to do the skip trace and let to pay REI Skip and if you know what that cost basically we’re all looking at the bottom line here
what you going to cost me to get these four deals yasso.
So as far as cold calling goes we only charge $0.30 per dial which is the cheapest actually on the market as far as of my knowledge at this this time.
But if a if somebody is wanting a specific type of weed called that isn’t provided by Lee’s for ninjas.
You can eat the client is is actually encouraged to use whatever type of lie that they want.
But as far as cold calling those whatever leads that they sent to us to get cold called is only $0.30 per dial.
[20:41] $300 for a thousand.
I yes sir okay and now I just I just bought 3000 leads from you what did that cost me.
[20:54] Okay can you repeat the question one more time I’m sorry if I just bought 3000 leads from you in Jacksonville Florida what did it cost me.
So if you just bought 3000 leads for lead is in that quantity.
[21:09] So if you’re buying the tax delinquent leads we charge I think I believe it’s $0.14 for lead if it’s tax delinquents.
Okay if you’re if you want 3000 dials.
[21:26] I wouldn’t be $3,000 I’m pricing out a $2,200 cuz that’s that I’m using your numbers okay so any idea what Arias gives going to charge me.
So REI skip get phone numbers from them they charge $0.24 per skip,
24 cents per successful or submit.
Upper name you submit okay so okay then let’s figure that out three thousand times to 4 equals $720.
[22:06] Alright so now so I got to show you that $720 for the skipping or I first of all I’m paying you $420 for the leads.
[22:18] And then $720 for the skipping and then $660 to have you dial in one time and now after you dial them.
If they say yes do you negotiate the sale or you pass them on to me.
[22:35] So typically when we dial for legality readers reasons we don’t negotiate our numbers what we do however what we however do as we get all the information needed.
For our client to make an offer on the property so we’ll get everything we can down till you know if it needs new floors in bathrooms redone.
And then at the end of the conversation with the homeowner we leave the conversation open for our partner or client to come in within 24 to 48 hours to come in with a with an offer or to come by and look at the property.
OK Google how many offers did you have to make in order to get for deals.
[23:17] So how many from from the the 3000 list that I had from my my skip tracing and tax delinquents.
There was a lot of stuff is going in there so many that I can’t even remember how many.
All baby 21 yeah about maybe 20 to 1,
okay alright we’re out of time for the segment we’re going to be back in just a minute folks with a number we have done the math here and you may have been doing it to unless you were driving please don’t use your phone while driving and don’t use your calculator while driving,
but if you pulled over to the side of the road to do the math here that’s fine but give us about the 60 years or 90 seconds we’ll be right back to tell you.
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[26:10] Okay we’re back I’m Rodger he’s Kenneth I teach people how to make money in real estate and I have with me today Kenneth you sang and he is with the company leads for Ninja.
And that leads for ninja.com and we’re talking about the product that he offers he can get you tax delinquent leads in a lot of markets and then
I will let you know what you can use REI skip to get the phone numbers and then out of that,
you’ll make the calls were running a sample deal that he did recently in Jacksonville and we came up with it cost.
Let’s see fat $420 for the leads
and then $720 to have REI skip take the 3,000 leads and he ended up with 2,200 numbers and that would cost $660 per dial and out of that.
It was probably 80 people who said yes I’d like to sell my house and you made these offers but he got four deals out of.
[27:07] That sound about right yeah that sounds about right,
alright so your grand total my friends if this is what you do is $1,800 now if you got four properties that you can wholesale then you probably made at least $40,000 out of that right.
[27:25] Yeah I’m looking at the numbers right now on the profit that we made so on one of the deals we made about 10 grand off of it.
Another one we made a whopping 5,000 the biggest one out of the four we got was 25,000.
And the biggest of all we made $1,500.
[27:53] Yeah alright how many of you in the audience by show of hand keep one of the wheel.
With paste $1,800 to make $40,000 that’s why I went to the sex just get it and I didn’t at folks I didn’t tell him we were going to do this.
He didn’t know I’m kind kind of put them on the spot but I also know a little bit about how this game works and I know what the numbers are and I wanted you to see.
People complain to me all the time about that I can’t find the deal.
[28:25] Are you really trying everything here’s something else that you can try all right Kenneth.
Given that this your website is pretty new you haven’t been doing it for long you may not have deals everywhere and so you want people to contact you right.
Yes sir are there any states you can already tell us see if you’re in this state and don’t bother cuz I don’t I can’t help you yet.
[28:50] So as far as pulling tax delinquents in the in the morn northern states like New York.
New Jersey stays like that it’s really hard to for us to pull tax delinquents.
Especially South Carolina weed there are no leads at all that were able to pull their South Carolina.
I’m not sure why we can’t but they’re never in our system and the County’s never want to negotiate with us on Lennon Lennon us get them into our system,
okay alright well I am kind of excited about if I give you.
3000 names are 2200 numbers you’re going to get get me a t properties to make an offer on and we should be able to get somewhere with those people.
[29:47] If you don’t mind me asking when the people pick up the phone what’s the first thing you say to him.
[29:54] So it’s funny you ask that I use a script is called I call it the follow-up script.
I don’t call it I don’t call it my own cuz it’s a little bit of everybody script I’ve heard over and over the years and I’ve just put a bunch of stuff together so what I say is something like.
[30:13] Hello this is Kenneth I remember you own the property of 1123 Main Street I’m just following up to see if you would be interested in getting a cash offer on your property.
I like to create a sense of connection with an homeowner when they first pick up and.
I just working it that way no has really cut down on no getting cussed out over the phone.
All right well I never cuss anybody out but I get a lot of calls and you know I’d I do get people trying to offer me operating capital for my business and they do use that the follow-up script and not his writing bags,
I don’t have a perfect memory but I have a pretty dang good memory and I remember we have never talked before my friend so that’s okay though I know it’s it’s it’s a technique and I know it works so alright that’s that’s that’s good,
now you do some of this yourself and you also do this work for other people
but this isn’t what you always did I like the fact just in the few moments we had to get acquainted before the show that you know you revealed some things to me about yourself kid because you’re used to work as a prison guard.
[31:25] Yesterday when you decided that you wanted to do something else and my brother-in-law was a prison guard at the state pen in Miami for many years and he decided he wanted to do something else but when you decided you wanted to do something else you researched it.
And that’s not that surprising I guess but what does take me by surprise is you left sunny Florida.
To move to Des Moines Iowa and tell the listeners why don’t you told me.
Yeah so here in Iowa the housing market is really well here,
and I loved you know visit California Arizona we also love Florida we we were there for 13 years of being here in Iowa.
Close to we’re about the same distance from every every state that we love to be in there was the market is good.
Yes definitely so you uprooted and moved to Iowa because the market was good.
You know the real estate investor Market in Atlanta is pretty crowded right now I would say they’re probably 25,000 people in metro Atlanta who call themselves Real Estate Investors.
[32:46] I have meetup groups here in Atlanta and we have over 7,000 members just in my meetup groups and I don’t think I’m the biggest one in town.
It it’s amazing and people come to me what do I do to find a deal and a lot of times what I want to say is pick up and move to another town where there’s more opportunity.
Then you did it.
It is crazy like being in Jacksonville I’m sure you’ve seen all the bandit signs that we buy houses signs everywhere,
yep here where I’m at in Des Moines I have yet to see one of the sides while Des Moines might have stricter Code Compliance to you know.
Yeah that is true all right so.
This question is going to come from a little bit of left field has nothing to do with with business now but one thing of observe Kenneth over the years of doing this and also the years I’ve been the host of this show.
I need a lot of people in the business I will actually every single person I’ve ever had on the show
is in real estate now but didn’t consider that as a career option when they were younger so here’s what I want to know when you were a little boy
say 10 or 12 years old and you first started thinking about what you wanted to be when you grew up what did you want to be.
[34:04] Yeah so when I was young.
[34:08] There was two things that you could probably find this funny one I wanted to be a police officer.
And to I had a really the reason I want to be a police officer was this there was an officer in my town that was real a real nice guy he know Gabe all of us Young.
Real young kids encouragement but he was also a realtor so he always told us when you get older get into real estate.
Wanted to be an officer and hearing that from an officer kind of burn that into my mind.
So when I got older I would say I never remember you no no officer Crow told me to get into real estate I’m going to get some research now and see if it’s actually something I would want to do.
Okay alright well that is interesting that’s a little different and I’m sure that is a.
A realtor what you know if your police officer you’re driving around a lot so you’re kind of driving for dollars while you’re on the job.
Definitely all right so you achieved you dream you became you got into law enforcement I guess prison guard is kind of like.
[35:18] Oh yeah definitely maybe not as exciting you don’t do many car chases and as a prison guard I guess.
No I remember her being out out roaming around on they called perimeter and I was actually.
[35:33] I don’t to say this out loud but I was actually I had my phone on the outside of the gates.
Rolling around listening to your podcast trying to get into real estate.
Look that’s that’s pretty cool yeah I’m flattered man and and then really kind of taking it back you almost left me speechless there for a minute so.
I I am I spoke at an event on Saturday and I I spoke with the young lady there who is new she’s getting into it and she said to me something that’s been said so many times I don’t want to ask you I am broke.
And I’m thinking about becoming a wholesaler any words of advice I can I’m doing it to you what would you have said to her.
So my advice for new wholesalers who are wanted to get into the business.
The biggest thing that changed my business from actually closing deals from not closing deals was building a giant buyers list.
You want to have at least 70 beers on your list before you even start looking for deals and abet a good way to do that without having any money is jumping on Zillow.
And cold calling all of your.
For rent by owners a lot of these owners are going to want to know buy more rentals in or they’re also going to be allowed to fix the flippers there.
Once you build a giant list that way what you can do then is get on Facebook.
[37:03] And from what you’re on Facebook start adding yourself to all of these Facebook group these yard sale groups I’m sure you know I’m like let’s say Atlanta buy sell and trade groups that you can.
And you start posting ads what you can say is looking to buy one to two houses within the next couple of months we pay cash or send me a PM.
Last year I can’t even count the number of deals I’ve gotten from yard sale groups.
And you can do that without having any money at all.
Okay that is very good advice and I appreciate you saying that because it confirms things that I’ve said on the show here for a while okay Kenneth just saying.
And to email you they’re going to send to Kenneth do sang at Leeds for ninjas. Com.
Note to email me or email me for cold calling you can email me at Leeds for ninjas at gmail.com.
If you wanted to get in contact with me and if you’re on Facebook you can follow the group virtual wholesaling ninjas.
And I from there you can send me a a personal message and not ask any questions you have.
[38:20] Okay that’s how we met I join that group virtual wholesaling ninjas on Facebook so facebook.com forward slash virtual wholesaling ninjas right.
Yes sir okay Kennedy saying thank you so much for taking time from your schedule to meet with us today here on Flipping America and my friends will be right back after this word from our sponsors.
[38:56] If you’re a real estate investor.
[38:59] You owe it to yourself to get a profile on the fan the flipping America Network it’s at flipping America network.com.
The profile is free if you’re a buyer a landlord a rehabber you enter what you’re looking for.
Particularly the ZIP codes of interest you can put up to 10 but we’ve already we’re working now to expand that to 25 you don’t have to sit on the app you don’t have to sit on the on the website.
All you have to do is tell us what you’re looking for your profile includes your cell phone number which will verify that the time you register and when a property is posted in the zip code you’re interested in your going to get a text message that says,
look what just hit the fan.
Everyone should register all 43,000 ZIP codes in the United States are included and you could be finding your next property just by listening for your text we call it snap,
click sold because if you are a seller.
[40:02] You can download the app will anyone can download the app and in the App Store it’s called flipping America Network all one word no spaces you download the app flipping America Network and.
If your course has a buyer you can search for properties using the app but as a seller you could be at the property negotiating a deal with someone that you want to wholesale you could take a few pictures of the property and that’s the snap,
then you can click to upload this property to the fan put a little information about the property there and.
Immediately that property will get texted to 5:10 dozen hundred.
I don’t know however many investors have expressed an interest in that zip code you no longer need to manage a mailing list you don’t have to go out and put together your flyers in your brochures or create
ads for Craigslist or other sites just posted in the fan.
Dozens of people will see it it may be sold by the time you get back to the office that’s why we’re calling it snap click sold.
[41:08] Www.dot flipping America Network. Com register now.
[41:30] Okay when do the correction there was handed to me it’s leads for ninjas plural leads leads for ninjas., if you want to go,
and thank you again for joining us on the show today we really appreciate and thank you for your kind words all right.
Back to the headlines because I know you want to know where in the United States you can find a mortgage for,
under $1,000 okay now this story comes on realtor.com
and they were looking for affordable cities and they do you know here’s some of the assumptions that they made to come up with these numbers they create a hypothetical 30-year fixed
rate of fixed mortgage for fixed rate loan for each of the 200 largest metropolitan areas of loans included 10% down payments 4.55% mortgage rates
5% of the value of the home and private mortgage insurance payments and a $40 home insurance payment for each hundred thousand dollars in home value additionally,
the factored in 1% of the home’s value going toward home maintenance annually which is kind of the industry-standard alright with all of that.
[42:39] They were looking for a mortgage that was going to cost $1,000 a month or less which means that they have to have a mortgage of $162,000 or less,
okay here’s a little perspective for you when you look in San Francisco for listings under $162,000 in the entire city is a $100,000
parking spot yeah.
So San Francisco is not on this list no surprise there okay so let’s take a look at my featuring this on the show am I taking the time to do it because
if you are in one of those hot overcrowded markets where you just can’t seem to find a deal because there’s so many investors that are in your town like Atlanta Georgia like maybe Tampa like most of the large cities in the US a lot of people are trying to play this game
you may want to take a look at spending some time in one of these cities pick one that’s nearby that you can get,
and spend some time there and look at what you might be able to do in that
area and I’m sure all of the local Real Estate Investors there would welcome you with open arms.
[43:51] And that my friends is an attempt at Radio humor or a little bit of sarcasm I don’t know alright number one on the list Youngstown Ohio,
the median list price of a house in Youngstown is $121,800 and I know the first thing that a lot of you that are not from around there are thinking.
Why would anybody want to live in Youngstown Ohio it’s just an old Rust Belt town that then steel factories are closed down and you might be right but there are people that do live there.
[44:20] Okay so because of that
there is opportunity and Youngstown is attempting to reinvent itself as a little bit of a tick City and they’re on their way number to Peoria Illinois median list price is 136500 Peoria.
Illinois Peoria is great now they’ve been lagging a little bit,
because in 2017 caterpillar moved its headquarters closer to Chicago and out of Peoria and so a lot of the workers are put their properties on the market and that led to kind of a glut of the hiring in homes but.
Peoria is an opportunity now here’s the thing about Illinois you got to watch property taxes and you’ve also got to watch if you want to turn it into a rental because there were Rumblings across the state of Chicago that rent controls are coming.
Binghamton New York the median list price in Binghamton is $130,000 and Binghamton is a great place to be in
the summertime poke hits it it’s north of New York City it’s about 3 hours Northwest of New York City and you can find reasonable price houses there but do you also need to you know kind of be okay with cold weather,
or be prepared to go south for the winter time.
[45:34] Mount even though the house prices are low like Illinois property taxes are going to punish you so watch out for that number for Huntington West Virginia
and now this one kind of,
made it onto my radar screen because it’s not too far from where we are and I know that Huntington is a pretty nice town it’s got Marshall University there and median list price as 143000
so and it is funeral kind of close to it’s surprisingly close to a lot of other places people want to be it’s it’s
not more than half a day’s drive from Washington DC and a lot of the Mid-Atlantic hubs.
[46:13] Number five Davenport Iowa list price median list price 145,000,
there’s some of your going to say who lives in Davenport why was anybody there Davenport actually had a decent-sized little town and its headquarters for John Deere,
you’ve heard of John Deere you know they make the green tractors okay number 6 Lynchburg Virginia,
it’s a to Collegetown the University of Lynchburg and also Liberty University located in the foothills of Blue Ridge Mountains I have a good friend who just moved
to Lynchburg Virginia and we spoke on the phone a couple weeks ago and he told me for a while about how much he just loves living in the town and you know he is into
LOL he’s been a Symphony conductor and he had an opportunity to be the guest conductor at the Lynchburg Symphony and he said he had a blast and really
really are liking the city there and so Lynchburg Lynchburg Virginia number 7 Erie Pennsylvania
Erie Pennsylvania the median list price of 155000 many larger Rust Belt cities are seeing a Resurgence after years of revitalizing parts of their downtown
that led to higher prices as buyers increasingly struggle to afford home ownership they might want to give Erie a look.
[47:28] Place is very much a lake town with a boat filled Harbor picturesque old lighthouses and sandy beaches on Lake Erie my little story about the being in Erie PA is that I wanted to go I was
on a motorcycle trip and we were just three or four days into a 17 day trip
that was going to take us to 14 States and we were camping out in Maine and we were kind of taking the long way up there but you know I’ve never been to Lake Erie before and so
we parked our motorcycles and I walked over and that’s quite a Down by the edge of the water I just want to put my hand in the water and you know how to say I touch Lake Erie right now I know it’s a weird thing as I stood up to leave I noticed that my Blackberry phone was lying there in the water and blackberries are not waterproof know this was several years ago and blackberries where the thing
until I spent the rest of that trip
without a phone I tried to have a replacement phone mailed to the campground in Maine and it got there the day after we left and so it follow me to Vermont and then ultimately arrived
I’m at home back in Georgia but that’s a story not related to real estate at all but that’s my memory of Erie Pennsylvania
number 8 Fort Smith Arkansas median list price is 160000 second largest city in Arkansas
second largest city but it retains a small town filled with a main strip line with churches in mom and pop business and they have the parrot Island Waterpark and so forth and so on home prices here are.
[48:53] About a little bit more than half of the prices in Fayetteville and 17% less than Little Rock so that’s.
[49:03] Fort Smith Arkansas number 9 Mobile Alabama,
this one interest me too cuz it’s within reach and it’s it’s kind of a cool Town median list price of 179800 mobile is right down on the Gulf of Mexico for those of you that are not familiar,
and it has a little town next to it Fairhope that is a great little artsy town and chops and spend like Asheville North Carolina but on the Gulf of Mexico number 10 Macon Georgia.
The median list price is 173800 course this is of great interest to people in Atlanta,
the median list price in Atlanta is 336000 right now or 337,000 the median house price in Macon is 173000 so if you want to be investing in lower-priced homes and
and selling lower price homes
macon’s only about 90 miles from Atlanta there you have it folks OSHA 10 affordable cities that should cause you to perk up and think a little bit about your investing strategy.
[50:07] Here’s another story from CNBC home prices hit a record as higher price listings dominate this Springs Market the median value of homes listed for sale in March at a record 300,000 according to realtor.com and the number of homes that were
for sale that were listed above 750000 increase 11% year-over-year in March while the number of entry-level homes price $200,000 or less fell below 9%
the pace of home sales are you ready for this everybody says the market slowing down and here’s proof of the pace of home sales is.
[50:40] 2 days slower on average that’s right we’re in a big slow down because it takes two days longer to sell your house okay just kind of getting around
of the nation’s 50 largest metropolitan housing markets St Louis,
Washington DC in Oklahoma City show the biggest annual drop in supply of homes listed for sale down,
90% 14% And 11% respectively for sale inventory continues to increase however in more pricey West Coast Market San Jose California had 114% more listings than a year ago Seattle 77% more San Francisco
44% more what is this mean when you have,
a lot more houses for sale that means that the market is slowing and it’s taking longer to sell when you have fewer houses for sale that’s an indication of a market where,
there is a lot of demand for what’s out there so folks get to Oklahoma City Washington St Louis.
[51:40] US housing starts were up in April,
more than anyone thought they would be and they’re trying to figure out why well it could be they were just wrong it could be that the market is better than everybody thought but this is actually heartening news for me us home building increase more than x.
In April and activity in the prior month was stronger than initially thought.
The date of suggested declining mortgage rates were starting to provide some support to the struggling housing market I don’t know if the housing market is struggling because of the mortgage rates if we’ve said this before I really don’t,
that’s that much of a has that much of an impact I believe that the bureaucracy,
and regulation has a lot to do with the slow start slow recovery to the housing
industry and housing starts but they Rose 5.7% to 1.235 million units last month driven by gains and the construction of both single and multi-family housing units that’s according to the Commerce Department
they also think that groundbreaking was likely boosted to dryer weather in the Midwest.
Well of course you out you got to have the weather cooperating when you getting ready to do the initial parts of building a house so that would help.
[52:54] This is a good time to be owning rental property or trying to flip properties in Arlington Virginia because although the housing market along a lot of the East Coast from Canon DC northward is slowing down Arlington Virginia is white hot.
And some of you will already know what why the reason is the Amazon effect Amazon plans open new headquarters and sellers are in two pages
pretty big profits and real estate prices Rose and median hundred and $10,000 for the Arlington Market.
Over the past year books that means that prices have doubled in the last 12 months and you can read this. Ori
on our end in the show notes as well I got to pick on Adam dated for a minute I love Adam data.
A t t o m data.com I’ve had them on the show and they’re steady go to Source but you know.
Sometimes old people and nerds just didn’t just should not try to be cool.
Okay and we should not try to use lingo that is not us,
in and try to fit in with the younger crowd I learned that early on as a school teacher even though I was really only about five or six years older than the kids I was teaching it it just made me look foolish to try
use their language so here is a headline from Adam Data Solutions the venerable respected credible source.
[54:23] For Real Estate research Nationwide and the headline title is where my first time buyers at.
[54:33] Come on guys come on.
[54:38] That would be something that could be said by certain individuals I suppose but even when certain individuals say it it’s not correct grammar.
And then we just lost all of our standards of grammar and decorum when reporting where my first time buyers at.
Okay so then I go on and use standard atom data nerd speak to talk about their
q1 2019 home sales report which breaks down various data sets on how the housing market is faring and after after that headline everything is normal,
Adam data and it’s it’s a good article and I’m linking you to it even though I had to stop and make a little fun of.
alright they talk about the counties with the highest share of FHA sales in the significance of the FHA sales are these are these are.
Places where people are putting down a minimum amount of money.
It is a pretty good indication where first time home buyers are migrating across the country.
[55:44] Topping this list was Ector County located in Odessa metro area in Texas and then you have Jefferson County in St Louis metro in Missouri,
Toole County to LA
County in Salt Lake City metro area in Utah Porter County in the Chicago metro area and Lake County also in Chicago all sales being FHA sales so there’s those are some of the top areas were first-time home buyers are.
Borrowing money and buying houses all right now throwing a lot of cities and locations at your folks because hopefully it will hit something near you all of these areas represent
an opportunity for you whether you’re flipping or whether you are buying and holding it doesn’t really matter but I’m going to let you in on a little something else too and then we got a couple minutes left.
[56:35] It doesn’t really matter where you are either
I highlight the cities where I believe there are some unique and maybe better than average opportunities but even in the cities and areas that I don’t talk about another words where you are.
[56:52] There are,
opportunities maybe you have to look a little harder for them and maybe they’re not going to be just based on wrong numbers statistically significant but.
If you would just stick to your knitting and look for properties that fit your profile
you will find them maybe you will find less and some of these other areas but you will find them so do not despair my friends you don’t have to do remote
real estate investing I think it’s a pretty cool thing if you can put together friends and some infrastructure on the other end of that and it’s not that hard to do in this day and age
but if you want to stay right home and just do your thing where you are you can do that to just know that you’re going to have to look hard and maintain high standards for the quality of deal that you are seeking
all right all of these stories and so many more are on.
They’re in the show notes with you listen on the app if you download the free app in the app store you can access the notes they are all clickable links and they’re probably 10 or 15 stories in today’s notes that I didn’t get.
[58:02] As is normally the case we just have to take the ones that we have time to cover in I tend to go through and pick the ones that I think will have relevance to.
Most of our listeners and speaking of listeners my friends I just want to say thank you so much for tuning in and listening flipping America it means so much to us,
we love hearing from you please send your questions to questions at Roger Blankenship. Com keep them coming.
And let us know what you think about the show and and coming up with just the next few days we’re going to focus on Pittsburgh Pennsylvania we’re going to talk about self storage and so.
[58:49] A quote for the week is from Mark delfine there is no amount of money that makes time irrelevant.
[58:56] Thank you Mark and this quote is brought to you today by the foundation for Renewal working together with communities across this country to bring a lasting life changing him back,
find them on the web at renewal fund. Net and is always your gift in any amount is much appreciated and tax deductible will see you next time.
[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,
listen three times a week on stations across the country or on the flipping America app free in the App Store,
be sure to like us on Facebook find and follow us on Twitter and Instagram and keep your eyes open opportunities are everywhere.