Joe: Hey, Joe here. Welcome to the Real Estate Investing Mastery Podcast. And on this podcast we're going to be talking about how to find the cash buyers. In the last one, the first video of the series audio from the videos of this series talked about why flipping houses is not well, why flipping land is better than flipping vacant houses. And then we talked about in the second one how to find the best markets. Now we're going to talk about how to find the cash buyers. And if you missed those previous intros, the other podcast we did, it was mainly this is some audios of some videos that I did with Jerry Norton a few weeks before my open heart surgery. And so as I'm recovering here, I just want to release some new podcasts for you guys. And this was a really good one. This was about a 38 minute video. And it's funny because we were doing these videos and Jerry and I kept on looking at each other like this. We're only on part three and we've got so much more to talk about.

Joe: So in this video as well, there are a lot of things where I was showing how we're using different tools and softwares that we're using. So, you know, my apologies are kind of to use your imagination a little bit as you listen to the audio from this. But in this podcast, we talk about finding cash buyers, why it's so important to maximize your profits. And, you know, if you listen, if you don't spend the time finding good buyers, that just indicates your laziness and you're leaving a lot of money on the table. Right? We'll talk about how to use realtors, how realtors can sometimes help you sell your properties faster and at higher prices. We talk about prioritizing buyers before contacting sellers and why that's important. How to find the right demand. Talk about what to send to buyers as we're targeting them as well, and looking to see what are other successful investors doing and can we model or copy or emulate some of what they're doing and kind of go into some of the markets that they're in? Right. We talk about some tools like Jerry's got a software called Propwire that does a really good job of kind of giving you some in-depth research on markets, how to find who these active buyers are, what they're buying, where they're buying, how to find these hot areas, mapping out their stuff, how to have more laser focused. We also talk about this source and how you can also use that to narrow it down even further to zip codes for you marketing campaigns. I show you kind of how to use zip codes and that kind of thing in there. Now we also talk about how to talk to buyers and what to give them and how to engage them and build a relationship with them to understand what they're looking for, what they want, what are their preferences and requirements, and how you can collaborate with real estate agents as well too, so you can optimize this whole business and really attract the higher paying buyers through realtors. So this is a great podcast episode. You're going to get a lot out of it. I hope you enjoy. And I also want to remind you, we talk about in the video, Hey, get this free land flippers tool kit. And I think Jerry might have said the link is in the description, but if you go to JoesLandKit.com, you'll get it. Right now, it's completely free. Joe's land kit dot com in fact, I'm going to go there right now and tell you what is in it because I just need to be charging money for this. In fact, I think I will be soon. I have the land watch hack, which is how I use land watch. I have my direct mail swipe file. I have my wholesale contract that I use for land deals. I have my option contract, I have my motivated land seller script, I have my land due diligence checklist, my land agent helper, my land profit calculator and software that helps you about analyze and evaluate and make offers on these land deals completely free. You kidding me? So go to Joe's land kit.com and check that out right now. Appreciate you guys. Have a good one.

Jerry: Honestly, not finding the highest paying buyer in the market is you just being lazy, you're being lazy, and you're leaving money on the table. Okay. What could you sell it for in like 30 days?

Joe: So a realtor will pay for it themselves. They'll sell it faster. They'll sell it for a higher price than you would.

Jerry: Welcome back to Video three in this masterclass series with Joe McCall. Joe, it's awesome to do this. We have really got into a lot of stuff so far in the first two videos. Hope you guys are following this. I would recommend in sequence because that's how we're given this information. Joe's breaking down step by step and we're actually eating on the computer. He's showing you the exact tools, everything he does to do this business where you can flip land for huge profits. Super fun. So in the first video, we did like a big overview. Second video, we talked about how to find the best markets from like looking at a state down to counties. Right. And now we're going to do this might show a little bit out of order, but it's really not. We're going to dive into the buyer, so we're not going to worry about sellers yet. Meaning where do we find the deals? We're going to get to that and how to analyze the deals. But we, Joe feels strongly and I agree with him, that we really want to keep focusing on where the action is, who are the buyers, what are they doing, what are they paying and understanding where we find them first, right, Joe? And why is that so valuable? Why do we want to find the buyers first before we ever start talking to sellers or making offers?

Joe: It just makes everything so much easier right. And if you're having a hard time finding who these buyers are and what they're buying, you might not be in a good market because you just want to. We're just following the demand, we're following the money. It's just fundamental wholesaling 1 to 1. You find out where the demand is and you go out and you fulfill it. It's this business 101, isn't it?

Jerry: Right? I mean, wholesaling people don't do this as often as I thought I would think they would. But what we really are doing now in our house, when I say wholesaling, I'm talking about our house business is we literally do the same strategy you're going to teach on this video where we want to find where the most active cash and buyer activity is happening and pick that as a place to go. Look for deals knowing that when we get a deal, we've got, you know, a lot of buyers that are going to be hot on those deal.

Joe: And that doesn't help too, when you're actually you've got a deal and now you're calling the buyers up and you know what they already want. Yeah, you know what they're already are buying. And then you talk to them and say, Hey, I got another deal that's similar to what you just bought six months ago in this area. Would you like another one?

Jerry: Yeah. Yeah. Perfect. Right?

Joe: Yeah. You know, you're also not because I have so many good buyers, I'm not chasing them. Right. So from a positioning standpoint, when you're talking to buyers, they know I've let them know, hey, I've got a bunch of people here that I think will be interested in this deal, but I'm calling you first to see if you might be interested in it. So I'm just planning the little scene to let them know I've got other people here. Right. And some of the marketing that we're going to be talking about, it's a great way to get the phone to ring. So you can either do cold, call them cold, call these buyers. You can also send little simple pieces of direct mail to get them to call you.

Jerry: Yeah. Which is one of your favorite techniques, which we'll talk about a little bit. But Joe's actually going to get back on the computer in screen capture and show you exactly how to find these buyers and where the highest concentration of these buyers is. And we're even going to go on to see like what they're doing, what they're paying, why they're the ideal buyers for this business.

Joe: Yeah. All right. So again, we're looking here at land watch. You know, I picked Florida because Florida is a hot market and you can see the most part of the region is the southwest region, which is the Fort Myers. We're going to look at that. These are some other good reasons where we've done a lot of deals in. But Lee County is a hot market right now. I'm just going to pick Lee County. And if you go into land watch, you can kind of see there's 5600 listings and you can go look at them to see kind of and this is another thing, too, that it's always good to see what your competition is doing. Right. And you can see a lot of these are land investors, some of them are realtors, But see what they're doing and how they're advertising these properties. And this can be a little intimidating to a new investor thinking, Oh, no, I'm going to be up and competing against David Haines from U.S. Best Land, and I can't. But it's actually encouraging to me when I see a guy like David Haines, he's probably spending over $1,000 a month to get these premium listings on land watch right now. Right. So that's a good sign for me that's telling me this is a good market. This guy is willing to spend that much money. And maybe Jerry, I can partner with David Haines on a land deal. All right, Let's say I get a deal on. I can I can then message him and say, Hey, David, I think I got a deal here. Would you be interested in partnering with me on I already got it under control and buying it. Would you be interested in buying it or you've already got the buyers. What if you bring a buyer will to split it 5050. I'm done a ton of deals that way where I partner with other local wholesalers that are already have the cash. They already know the title companies, they already know all the paperwork, they already have the buyers and I just bring them a deal and partner with them on it and split it 5050.

Jerry: So this is showing us a huge database of active land deals for sale. But right now we're going to come back to this maybe in another video. That's not the focus right now. So I want I. Ready for that, are we?

Joe: No, no, no. So we're going to dive deeper in the county to see where all the activity is and Propwire. How do they get Propwire, Jerry?

Jerry: Well, we can put a link below and you can get into Propwire for free. Okay. And then it's free. So when we say free, if you haven't heard me talking about Propwire yet, it's, you know, the 157 million records nationwide. And it's absolutely free to search and download as many records as you want.

Joe: When you came out with this. I was like, What is Jerry doing? Like, what is the you crazy? Crazy? Yeah. I mean, this stuff is always you're brilliant. One of the one time will tell. These leads are free to you.

Jerry: No, no, It's very expensive to have this software. Yeah. It's not just in the data, but also in the development to the. To create the user interface. Yeah.

Joe: So I'm a big fan of propwire. We're not just saying that to Brown nose. Yeah. Yeah. I was like, this is insane. Like people, if you haven't gotten this yet, I don't know.

Jerry: Yeah, it's really cool when you were telling me how you're using it and so you guys are going to see firsthand how he's using this for land deals.

Joe: So let's go to Lee. Lee County, Florida, right here. It's gonna bring me down. This is near Fort Myers. So if you're to zoom out, it's kind of a south western part of Florida. Right. And there's 50 528,000 results. So I'm just going to go here to property types. I'm going to select land. And there are 139,000 vacant lots. You have data here. I want to know, though, who are the people that are actually buying these lots recently? Okay.

Jerry: Remember, guys, we're not looking for deals right now. I'm looking at who the buyers are.

Joe: So I'm going to click on advanced right here. Property filters. We're not worried about your built. And that's something else we could do. We could look, we could say, All right, show me all the new home construction, but let's skip that. And now we're going to go to owner filters. We're going to do property owners. I like doing this. I want to find somebody who already owns like five other properties. Now, these could be houses or land. But what this means is they're more of a serious active investors not a mom and pop. It's not a mom and pop. You could do properties own ten if you wanted right? And then financial filters. We want to look to see the last sale date. So I like to just go back three months.

Jerry: If you put ten, you might want to go back further, but.

Joe: Okay, let's go back six months. So since they've bought a vacant lot since November 1, '22 is where and they own ten other properties already.

Jerry: They're a real legit investor.

Joe: Yeah right. Sometimes my best buyers for houses are the out-of-state buyers too, right? Because they pay more generally. So I'm not going to worry about out of state right now. Anything else we could do with this? I think this is good. Now, you could do sometimes I do total value less than a certain amount, but let's not worry about that same clothes again. This is last six months. There's 2000 properties here. Now it's not 2000 different buyers. There's 2000 vacant lots that have sold in the last six months to somebody that owns more than ten, currently owns more than ten properties. Okay, Let's just look at some of these. This is one we can go see the information about the properties, 10,000 square foot. This is obviously vacant lot. That's about point two, three acres. Okay. It's a little less than a quarter acre. You can see all kinds of good information about the same here. Now, this is, well, more advanced, but sometimes I take that APN number and I have other tools that I use to give me more information on the topography. Like if you're in some areas, it's good to look at like, is it on does that road access, you know, does it have.

Jerry: You would Google that because that's the parcel number, right?

Joe: Yeah. So sometimes I'll go to the county records, all county managing stuff. Yeah. So a lot of good information here. By the way, one of the things we'll talk about when it comes to finding sellers is tax delinquency. So in propwire, you can go and say, show me all the people that have owned land for over ten years that have been late on their taxes in the last couple of years.

Jerry: Yeah, let's make sure we get to that.

Joe: All right. So anyway, we can see somebody owns this but just bought it recently. You can see it's an LLC based out of Medley Florida just as I you look at that they own 167 properties.

Jerry: So again, guys, he clicked on the owner tab. A new feature we have in prop wire is it'll tell you all the properties they own. But right now, as we're looking at actual mobile landline numbers for World Rent LLC.

Joe: You skip Trace LLCs?

Jerry: Yeah, we'll skip Trace LLCs. Now you're coming. Now, guys, be patient with this because our understanding, because LLCs, these are a lot harder. So your hit rates are lower. Oh yeah because totally that's going Yeah whatever you do your skip nosing with no one's 100% right.

Joe: Okay so bam look at this. So you can see this is buying condo. They're buying land, multifamily land, land, land, land. Lot of land. See all that right there? Land? You think maybe if I called this guy up and I said, Hey, now you may. I don't know how you those phone numbers is a go to the owner. I don't know this. Yeah. Sometimes with the LLCs like this, I like to send my letter and we'll talk about that in a year. But like, that way it goes to they probably have an office. These guys probably have ten people. Go in there, officer. We're going to get a secretary or somebody. But sometimes letters worked. Well, I still call him, but I'm just going to say, Hey, I see you bought a property here recently. Are you looking for more deals? Simple as that. Yeah. So this just tells me.

Jerry: Now. Now, Joe, would you do that call before or after you actually have a deal?

Joe: That's a good question. It depends. Now, I'm kind of already experienced. I know if I get a deal in Lee County, it's going to be easier for me to start with, right? I can find ten realtors that I can call it listed for me. I know what the numbers are, but sometimes if you're in a new market, it is better to call in advance and talk to some of these buyers and find out what are you looking for?

Jerry: This goes back to the age old debate. You know, do you get a buyer's list first and then make offers or whatever? I tend to just. For me personally, I feel like it's such a better use of time. If I call these guys and I have a deal to talk about, because if you call, I feel like if I call them and I said, Hey, you know, if I find another deal, will you buy it? Well, yeah. Look what they got. 167 properties that are going to buy it. If it's a deal, they're going to tell you, Yeah, bring me a deal when you get one. That's what they're going to say. So yeah, I agree with that. Right. Is especially when you're talking to realtors too. Yeah. If I got a deal and I'm thinking about buying, I'm thinking about selling. I, I have an under contract. I'm in due diligence right now. I'm calling to see if you might be interested in this. Now you're having a high level conversation with somebody.

Joe: So, I mean, I did this the other day on one of my videos, and I was just calling I think I mentioned this in another video, but I called this guy. He was driving in New York, you know, and I said, hey, I see you bought this property recently and are you looking to buy more? And he's like, Yeah, but it was a weird conversation cause I didn't have anything. Yeah, right.

Jerry: So, yeah, you know, that's I would say this if you're brand new and you just want that peace of mind knowing that you've got five, ten, 20 buyers that said, yes, fine. But honestly, I always feel this way. This is my, my honest belief about this. And it goes against what a lot of other people teach. I feel like if you get a good deal, if you actually have a good deal, finding a buyer for that deal is the easiest part. Yeah, right. Just get go focus on getting a good deal. Now we're reverse engineering right now, so we're going to find we're going to show you where the buyers are at. But there's no right or wrong that you could you could actually call them, ask them, Hey, if I find a deal, what's your criteria? And now you can kind of like I got a built in buyer and I'm going to go find them exactly what they want. Nothing wrong with that strategy works really well. A lot of people do it. Yeah. Just decide which way you want to go with it, you know?

Joe: Yeah. So now you see, the cool thing here is you see these pockets of a lot of dots. Yeah. The. Here we are, though, we know this is a hot county and we know these are a list of buyers that have bought a lot of property in the last well, they bought one property last six months and they own a lot of property already. So the chances of them wanting to buy another deal is really, really high. So we're just kind of giving ourselves a shortcut here. And now we can see the hot areas. This is a hot area right here. This is a hot area over here. Yeah, because you're looking at the dots on the map. You see where the concentration because look down below here. Now, that might be outside the county right there. We are maybe about like I do get some deals in the areas like this and it just then I just got to be a little more careful. Right. Like I want to be a little more conservative on my offer if I'm buying on this side of the highway. Right. So might be a lot of wetlands here. Maybe it's flood plains, maybe I want to look at that pocket up there by river Hall, you know, like you see a whole bunch of concentrate. Yeah. And look over there, Cape Coral, lot of good acting on, my gosh, tons of action. So you could go and click one by one, click them all. But there's cool tricks here. Like you could just select This looks amazing. Let me go check all 2000 of them and you can export them into a spreadsheet and then down that.

Jerry: We can show we don't have to go all the way there too. So click the dropdown arrow right here for well.

Joe: You can skip trace them all too right. Yeah. So that's cool. But what I'm gonna show you guys in a minute here, another trick using another website like we could dive down even deeper. Which zip codes in this county are those active buyers buying? Because some of these counties, when I go to pole list mail, I'll get 30,000 because it's a huge county. It's a huge county, lots of vacant lives there. You know, so many zip codes might be in a big county, 2030. So what if you could find the top five zip codes in that county? So if you think about it, if you if you drill down, you would start state, county, zip. Yeah. Then what city? Well, just that's it. State, then your county, then zip code. Yeah. Because some cities might have multiples rising. In some counties though, you know, I don't do the zip code analysis. I just, you know, I mail the whole county because it's not that big of an area, but a county like this, a lot of activity. I want to know who are or do you recognize this name? D.R. Horton. Okay. Well, you want to know who are these big dogs that are buying? What are they buying? What zip codes are they buying in? And so you could export all of this into a spreadsheet and go really deep into. All right. Well, you could go into and you could say, show me all the ones that D.R. Horton is bought with zip codes. Are they buying all their deals? And at what price per square foot price per acre. Are they buying these lands? It. Now you've gotten more educated idea of what they're looking for. So when you do get a deal, you can call them up, send them a letter and say, Hey, I got this, or you would you be interested in it?

Jerry: So very cool. Plus, they bought another one, so they're buying like crazy over there.

Joe: Very good. They're a homebuilder?

Jerry: Yeah. Yeah. Okay. Big home, nationwide homebuilder.

Joe: Cool. Now, one of the things I like to use is list source. Okay, List source is owned by CoreLogic. Now I can get a free account with them. I'm not saying to go there and buy them. It's going to. Cause it's actually kind of ridiculous how expensive it is. But when there's a free thing I like to do in here that will help find and narrow down into like a table the top zip codes.

Jerry: So this is your free hack on list source to get the zip code data. Yeah. So walk us through this.

Joe: All right, cool. So I'm just going to log in to my free account. When you go here, you can see this out, too. So I'm going to go right here to create your own. Now I go through the space, so just pause the video and go back if I need to. Right. I'm going to go pick my state or I'm Undo County, rather, I'm going to pick my state, Florida. And now we were in Lee or Lee County, which has happened in my area. Oh, cool. Let's go to Lee County added in there. So you'll see there's 448,000 property records. So let's narrow it down a little bit more. I'm going to go here to property. I want to do property type and I'm going to choose vacant land, bring that over. So there's 103 vacant lots in the records there. I want to do last 3100, 100,000. I'm gonna do last market sale date, Let's go last three months, 1800 and then I could. There's something else I'm forgetting here. Well, good enough for now. So now you can see here we got Lee County also preference, right. Oh that's. Yeah, that's next. Okay. Out. And then I'm going to go here to options owner occupied. I don't care if it's absentee owner or owner. Well you know Yeah I'm carrying it right here Corporate owned. I'm going to say no preference calling.

Jerry: It doesn't matter if it's individual or an LLC. Right. Okay. So but no preference.

Joe: Now you could do only but I just want to know which what are the zip codes in Lee County where most of the vacant lots have been purchased in the last three months? Okay, so I've got a list now of 3900. I'm going to pretend like I'm going to buy it on the click purchase list right here. Now my purchases are click purchase, partial list right here. Then I'm going to go to custom selection and then I'm going to take from the dropdown zip code. And by the way, you could do the same thing. We go to the county, but that's another thing. All right, So bam, here I have now a table of all 30. There's 34 zip codes and Lee County in Lee County. And here is a table of all of the zip codes and the number of transactions. So you can export this right now into a spreadsheet if you wanted. Or you could just sometimes what I do is I'll just go and I'll copy and paste everything else and bring it over into a spreadsheet. Or you can just get a pen and paper.

Jerry: Yes, go write down the top three or so.

Joe: Yeah. Look here. 33974 as eight 840 833972. That's 121. Where six so far down a little bit. Oh yeah. 33993 is 605. You scroll up to the top. Those are the top three. So do you think maybe if I found a deal in 33993 33974 33972. To think I might be able to sell it.

Jerry: That's your hottest zip code. Yeah.

Joe: So now I've got the whole state, the whole country down to one state, down to one county, down to three zip codes. This is the laser focused instead of like spray and pray marketing. Yeah, I want to dive deep. So if you have a limited marketing budget, you know, instead of sending postcards to everybody in that county, 10,000, you know, or it's leaked out, it's going to be over 30,000. Why not go down deeper to the zip codes and then context? So that's all you have to do here. You can export this, but this little list source trick is just a way to find the hot zip codes. And let's go back to Propwire and look up three, 3974. Okay. Okay. So I'm going to go back, which was the highest one. That was number one. And let's just start all over again. I'm going to reset all filters. Okay? So now I'm going to put the zip code up here, three, 3974. It's going to drill me down into that little area. Doesn't look very big. Fetched you a lot of activity there now. All property types land. All right then I go to advanced and owner filters and maybe I could do maybe three, 5 to 5. So yeah, I was defined.

Jerry: So they owned at least five properties.

Joe: Yeah. And then the last sale date, six months. One, two, three, four, five, six. Let's just pick first save and close. And right here, there's 435 results. That's not 435 buyers. That's 435 transactions in the last six months from somebody that is owns already five of the from. These are active buyers who are saying, please bring me some deals. Right. Please, I want to give you some money. Bring me some deals. It's good to know these guys, isn't it? And then from here, yeah, you just was click on the first one. You can see that it's a vacant lot. I. Easily the owner, Calvin Walker. Again, we weren't saying only corporates was anybody. So we kept saying this, but this is this is. So he owns nine properties. Yeah. Even though they're multi families he's also got some land. So this is guy who's buying land right now maybe to build some more kitchens. Right. Yeah. So you contact them, call them up, send them a letter. Let's look at this one here. Now, this might be somebody that wants to build a home that looks like an infill. Maybe this is another individual owner. Some of these guys, you know, they live in that county. A lot of them live outside of the county.

Jerry: One thing keep in mind is this property's deeded in his name, but the way that we get the properties owned is by their address. That's really important is because they might have some of those nine might be entities.

Joe: Who knows? Sometimes people buy multiple properties and every properties in a different name.

Jerry: That's me. That's how I do it. Yeah, which makes it harder. I like that because it's like asset protection. Sure, but not really because I use I'd have to change up my mailing address addresses. What Who does that.

Joe: This Ricardo smart investor. He's got a bunch of land deals that he's bought out, you know, and you can see the zip codes that he's buying in and these can see what he's paying for.

Jerry: Well, I mean, it gives you value. So it gives you an idea of his price point, right? Look at these 1212 A.

Joe: Well, you can open them up. Like if you click this button, it opens up a new tab for that property. And you can go to history and you can see what he bought it for. Just had there you can see he bought that property for 16,500.

Jerry: And now you're researching your buyer because look at this. Let's say that you had a deal. Let's say you found a deal and it was near this one. Yeah. And you're like, Well, what should I offer? Or let's say you get that deal for five grand. Well, what price should I take it to Ricardo at? Well, he just paid 16 5.

Joe: Yeah. What if I offered him a deal for 15 grand? Yeah. Do you think you might be like, Oh, yeah, that's a good deal. I bought my last one for 16. Right? So this is. It's so easy to come up with offers. Yeah. If you know what these guys.

Jerry: No guessing anymore. You got real data. Yeah. Yeah.

Joe: So you know what? And we'll cover this in another video. But when you're when you're getting in here and you're seeing, you know, now we know these zip codes. So when I get a deal under contract, I can go in. And when you look at the comps right here and we'll look at this later, you're going to see all of the other vacant lots that have sold there in the last six months. And so you can contact those people and you can also contact the ones that have are buying a lot of them in that zip code from your list. Yeah. Yeah. There's so many cool things about this and propwire is a great tool because it's free because I still can't understand but and all and then when we get into finding deals, you have the realtors contact information.

Jerry: Yeah, right there. In fact, one feature we added recently was when you download that list. Yeah, it pulls that too. So. No, it does. Yeah. Yeah.

Joe: So going to have to wait for the next video. I think we're going to be talking about that aren't we? How to find the sellers to contact them. But you know, this is your can I show them the letter that I like to send?

Jerry: Yeah. So, so now let's to wrap up, let's talk about your top ways of contact you contacting these cash buyers because right so one thing right through propwire you can skip trace you can individually skip so we could just skip that one guy. You could skip tracing all files or you could do the whole How big was the list? 435. So show real quickly, you would just select all of them. And how are you two? It might as well. Let me let me let me remove that so you can build the list of buyers like, oh, so now we're going to select all. So as 435, click on it. It's going to bring you the less you do the dropdown and it would skip and download, which what I'll do is I'll skip it, give you the whole list and all that. And by the way, one cool thing about skip tracing is we only charge if it's if it returns a number, right? Some skip tracing, they'll just charge you for the whole thing. And then, you know, 30% don't come back.

Joe: You know, you upload them into whatever dialer you're using. Yeah. Sometimes I just prefer to calling from my phone.

Jerry: Me too. And text from our phone. Yeah.

Joe: Yeah. Okay. So what do you say to them. Right. Like you call them, he text them. I would just say first of all I never I don't like the fake it till you make it sometimes, right? Sometimes just being honest with buyers is the best thing, you know? So I call these buyers up and they say, Hey, listen, I'm a new investor in the area. Just kind of learning the ropes a little bit. Sometimes I'll teach my students to see this, like just be honest and say, Listen, I bought some late night infomercial course, you know, and I'm just getting watch this guy, Jerry Norton on YouTube. Yeah. And I'm a little embarrassed, a little nervous right now. Just be brutally honest. You'd always be truth seekers and truth givers. Yeah, right. And so they're going to respect you more for that. Totally. And you just say, listen, I'm a do a lot of marketing in this area and I'm getting a lot of leads, house leads or land leads, whatever it is. And I'm just calling some active investors that I know in the area. And I'd like to know if maybe I could add you to my buyers list, because I'm getting a lot of leads, right? So you're showing them that you're actually doing some work and you're legit. You're not going be wasting your time.

Jerry: And this goes back to if you're contacting buyers to build a list prior to getting a deal.

Joe: Yes. Okay. So it's like, hey, I'm doing a buy. You're doing marketing and I'm getting a bunch of leads. And I think they're they look like really good deals. I see you bought five or so in this area. I'm just wondering, can I add you to my list so that when I do find a good deal, I can send it to you what you think they're going to say? You said, Well, heck yeah. Yeah. Do you then find out their by box. Right. So they're like, Hey, can you tell me what I want to make sure I don't send any junk? Yeah. So can you just maybe tell me real quick? Like, what would be a deal I could send to you that will, you know, make you drop everything and come and look at it or buy it, you know? Yeah. And where are you buying it? What types of loss do you look for? You know, what's your, what's your strategy? So I can bring you exactly what you want. And so, again, just being honest with them right up front and not trying to play some game or not pretending that you have a property that you don't. Right. But just like asking them questions now, not all of them are going to be interested in telling you. But sometimes, again, playing that honesty card where you're just like, Hey, I'm new. I bought a late night infomercial. I watched some of these YouTube videos and they're going to appreciate that.

Jerry: Yeah, you know, I love that Joe because like a lot of times when I do my live calls and I record it, I'll say things like, Yeah, I've been flipping houses for almost 20 years and blah, blah, blah. And people will be like, Well, Jerry, I can't say that. I'm like, Well, no, I can. So I'm going to leverage that to my benefit. But you say what you are. Yeah, you know, like it doesn't matter.

Joe: No, And I don't pretend I'm in the market either. I Yeah. Hey, I'm in Saint Louis, Missouri.

Jerry: I'll do the same thing. I'll say, you know what? I actually am out of state, but I'm really excited to do deals in this market. I don't know a lot of people yet, but, you know, I'm calling you, so just be brutally honest. Nobody cares. What will hurt you more is if you're not something you're being something you're not that will come through. You're not going to build rapport. If they have doubts in their mind of your trustworthiness, they're going to really second guess working with you.

Joe: Well, they can smell that insincerity from a mile. Yeah. So you just got to be real and honest. But I let them know I'm getting a lot of leads, like I'm looking looks and what's in it for them? What do they want? They want deals. They want to make money. Yeah. So when they whenever I'm even talking to realtors, it's the same thing. How can I help you grow your business and help you make more money? Yeah, well, that's what I say. And out. You know, if I have a deal, I tell them about the deal. I see you're an active investor, but it does help when you kind of already know what they want. You already have maybe a little established relationship with them. But you don't have to do this, right? You don't have to cold call these buyers out. But it does help when you have a deal under contract.

Jerry: I look at some of the land deals I do, and I don't do any of this because my exit is to relist, take it down and relist. So if you have the ability to buy that $5,000 lot or $10,000 land, whatever, you can buy it, take it down. Do you believe would you agree that a relist on the MLS is probably going to get you your highest paying buyer?

Joe: Oh yeah. So 100%. And then you're going to get more eyeballs. Yeah. So my we talked about first contacting the buyers first. I'm talking about sending them a letter. The other thing I love to do is call realtors. So I will go in and it's really easy to find if you have a particular deal and we can show us if we wanted to or maybe in another video. But you just kind of zoom out and you can see on where Redfin. Oh, and Redfin. Yeah. And I'll say show me all of the recent sold in the last three months. Just land just land deals and then you can go and you can see who the realtors are and you can Google them, find them, or property gives you their information and you can contact. And my conversation with the realtor goes something like this. Hey, Jim, my name is Joe. I'm looking for a realtor to represent me. That was that's I'm thinking again in terms of their lesson, though. Yes, I got their attention. What do they care about? Yeah, sure. About money and listings, commissions and stuff like that. I don't have an agent representing me right now, and they are. I'm looking for a listing or a realtor to help me list a property. Now, I'm an investor from Saint Louis, but we're starting to we're starting to do deals here in this county. Do you mind if I ask you a few questions? That's kind of how I started, right? I let them know I don't have an agent representing me. I'm looking for an agent to represent. I got a deal on a property I'm going to buy. So, yeah, the next thing is, I got a deal. I'm thinking about buying. Yeah, right. I got a deal. I'm thinking about buying, and I pay real generous commissions. I tell them, you know, after we do some pleasantries and exchange back and they say, Listen, I'm looking for a realtor to help me maybe buy this thing and sell it again. I pay real generous 10% commissions. Now it's land. It's different than houses. You know, with houses you're making you're paying 5 to 6% commissions. With land, I'll pay 8 to 10% because these are things that we're selling for 30000 bucks.

Jerry: So the work's the same, but the price point so long to get their attention, you got to pay them a little higher commission.

Joe: And I'm only working with realtors that have already sold land recently to sell search just land agents. Yeah. And we can show them how to do that here in a minute. Yeah, it's easy. So. But then now I got their attention. I don't have an agent representing me, and I'm willing to pay 10% commissions on both sides of the transaction. The buy and the sell. Now, that's a lot of money, granted. But I'm telling you, when you list properties on the MLS, you take it down, you release it or whatever it pays for itself. You can't afford not to use a realtor, in my opinion. Because now you get it on the largest marketplace. You know, Zillow, you could do for sale by owner on Zillow. But do you even know how to find for sale?

Jerry: They separate the tabs so it's hard.

Joe: And nobody clicks that other tab.

Jerry: People don't know that.

Joe: Mm hmm. So anyway, you get the largest marketplace you get Now somebody who's working for you is your boots on the ground. You can go take pictures. I've got a lot of deals that are falling through because a realtor would go look at it and say, you can't tell from the satellite Google Maps, but like, it drops off like a cliff. There is road access, but you'd have to, like bring in heavy equipment to cut in driveway. And so they do your boots on the ground, right? Did research. They go look at it and they say, this is good and they'll tell me what they think I could sell it for. And I always go back to say, well, okay, what could you sell it for in like 30 days? I want my I want the most aggressive. So realtors would pay for that themselves. They'll sell it faster. They'll sell it for a higher price than you would on your own. So it's not just the exposure, it's the it's the due diligence that the agent will do because they're going to know the area. They're going to know about that. They'll go look at it to tell you what's going on. It's that because you could just go on broker lists. I've done that before, done a lot of deals. Broker Less. Brokerless.com. It's a flat fee of like 150 bucks. Now we've done that a lot but still, like I want a realtor that would go take pictures of the property for me. They'll be more active.

Jerry: And you know, gladly pay the commissions because.

Joe: Yes, they'll be more active in taking the calls, you know, more work on the deal, putting a sign in the outside to work really well. But yeah, for vacant land, my clients were really good. But then also though they know the resources in the area, like they know the good title companies and you be honest with these agents and you tell them I'm a wholesaler, right? Like and I'm, you know what a good investor, friendly creative, real estate investor, friendly title companies.

Jerry: And then they may also have a buyer for that property.

Joe: They might already have buyers. They're going to help me with kind of what I need to do and when they may already know somebody else. We'll talk about this in another video. When you're calling agents, I always ask them, do you have any other properties? Do you know anybody else who's got a something they want to say?

Jerry: What I love about the agent model on the exit, too, is it doesn't cost you anything upfront, right? You're going to pay it out of the sale. Yeah. Which then assuming you make a profit, it comes right out of closing versus other types of marketing like direct mail. You're paying all that upfront to then have no guarantee. You get a buyer and you only pay that agent if they bring you a if and when it closes. Yeah, yeah. So I think it's crazy not to. Yeah.

Joe: So now that you have now you know you if you get a deal you can work on the process of closing up but still I don't close on the deal until I know I've got some good buyers. Yeah. So I got three months sometimes I'll close if it's in, if it's a smokin hot deal, I'll close immediately within a few weeks.

Jerry: Especially if you have your buyer ready.

Joe: Yeah, I can. You can always close sooner. Yeah. You can do an assignment or whatever. But sometimes then also I might put it out there on the market for a couple of months. Yeah. See anybody getting calls then. That's good. Then I start the process of closing. Yeah. So it's a good mix, you know. But the thing is always be marketing for buyers. This is maybe a good way to wrap this one up. I always never stop marketing for buyers for your deals.

Jerry: List building for buyers. It's got to be a never ending continual, perpetual process.

Joe: You should never stop. The worse position somebody could be in is becoming. I don't remember who came up with this phrase, but becoming an employee of your buyer.

Jerry: That's Cody Hofhine, actually.

Joe: Yeah. Cody says that at least I learned it from Cody. Yeah. So you do not want to become an employee because my cash buyer employee, which means you have like one buyer that you take all your deals to and they dictate praise now because your job as a flipper is to find the highest paying buyer in the market, which means you're constantly building down and finding buyers. It's just as important to market for buyers as it is for sellers. Yeah, always be marketing for buyers and it could be some phone calls, you know, once a month, send out 1000 letters or postcards, you know. Yeah. Always be building your buyers because sometimes buyers get fat and happy and they like, you know, they've been around the block, they've bought a bunch of deals and they're maybe not as eager or as hungry anymore as they used to be.

Jerry: Honestly, not finding the highest paying buyer in the market is you just being lazy. Yeah, you're being lazy and you're leaving money on the table because there's usually an outlier that will pay way more than everybody else. And if you're actively pursuing cash buyers, you find those outliers, they kind of come to the top, right? So I'll always be marketing for buyers. Yeah. So this was a longer video, but Joe this was phenomenal. We really covered the buyer side of this business, finding the buyers great screen captures on how to do that. Really good conversations on marketing. So really cool. I think next we should probably talk about do we want to talk about analyzing or finding? So next we're going to finding the sellers. Then how do we run our numbers? We covered a little bit some ideas, but let's really dive into that. And then I think we're kind of putting everything together.

Joe: Oh, come on, let's go.

Jerry: Yeah. Okay. Awesome, guys. And. Be sure to check out Joe's toolkit. He's, every video so far he keeps like adding stuff to it. So this is really comprehensive, amazing kit of all these resources that are going to help you just crush it in this business. So that link to get that free tool kit is in the description below. Thanks again, Joe. Awesome. We'll see you guys on the next video.