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How would you get started in real estate investing in 2024? Here, I show you exactly what I would do. Whether you’re a realtor or an investor, whether you're doing residential or commercial real estate, pay attention. You need to learn how to become a deal-finder. You have to learn how to figure out where the money is, then get on the phone and start talking to people. I’ll show you how to get laser-focused so you don’t waste any time with the old spray and pray method.

I do a three-hour workshop every Saturday where I go into a brand-new market, pull back the curtain, and show you my strategy. I let the audience pick a state, a county, and some zip codes and dive deep into those areas. I also show you how to find buyers and sellers, what to say to them, and then we go and make offers live. If you want to join me in my next Saturday workshop, go to JoeMccall.com/Saturday.

Watch and Learn:




Listen and learn:

What’s inside:

  • How to get started in real estate this year
  • How to become a deal finder and start making money
  • How to join my live workshop where I show you my exact strategy

Mentioned in this episode:

Download episode transcript in PDF format here…

Joe:   How would you get started in real estate investing in 2024? I'm going to show you what I would do. And this is very, very simple and easy. Whether you are a realtor, you're an investor, whether you're doing residential real estate or commercial real estate, you're investing in houses or vacant land. Pay attention here. Right. So let me share with you something first as I sit down here with my laptop, because I got some cool notes that I'm going to share with you. I do a workshop every Saturday where I actually go into a brand new market, and I pull back the curtain and I show you what I would do in a brand new market specifically for vacant land investing, because that's my favorite strategy to invest in these days. Right? So if you want to join me on my next Saturday workshop and I knew these live, go to Joe mccall.com/saturday. All right. And in there I let the audience who was with me live pick a state pick a county, pick some zip codes. And I actually start diving deep into these areas. And I may have never done deals there before. I don't know, you guys pick it for me, and then I go through and show you how to find the buyers, how to find the sellers, what to say to them, and then we actually go and make offers live in this three hour workshop. So come join us. It's only $7 Joe mccall.com/saturday.

Joe:   All right. So what would I do if I had to start all over again? If I was brand new and I was wanting to do real estate investing right now in 2024? And again, it doesn't matter if you are a realtor or an investor, if you're doing houses, if you're doing vacant land, if you're doing residential or commercial, this is all that matters. And this is the most important skill that you can know if you're in real estate. All right. You ready? You need to learn how to become a deal finder. You need to learn how to become a deal finder. It's really important. We're not deal creators. We're deal finders. And that is the most important skill. How to find the deals. Doesn't matter if you're a good contractor, if you're a rehab, or if you're a good landlord, if you don't have deals to rehab, if you don't have properties to rent or manage right, it doesn't matter. You need to learn sales and marketing and that is the most important skill. I've always said this, you know, many times we're not in the real estate investing business. We're in the marketing business. Right? And sales is the million dollar skill in my mind, marketing and sales kind of the same thing. But they're kind of the same, isn't it? It's learning to find where is the money, where is the demand. And so that's the first thing I would do if I'm in a new market and I'm going to show you on my laptop here in just a minute, kind of how I figure this stuff out. But that's the most important thing is understanding where the demand is. And then once you find out where is the money, then it comes to just get on the phone and start talking to people. All right. So I want to show you real quick how to find the best zip codes. If let's say you're doing houses. All right. And this can be for again if you're an investor or realtor doesn't matter. How do you find the demand. Where is all the money going. And that's where we're going to start. We don't want to do spray and prey marketing, where we're just spraying and spraying all of this marketing out there, hoping to find some motivated seller. We want to be laser focused in our deal finding. We want to go find the deals where there's money, where there is demand for that, and it's really easy to do. One of my favorite tools is list Source. And with list source it's free to get an account. So we're going to pretend like we're going to buy a list okay. So I'm going to go here to list source. And I'm going to go to Investor Foreclosure Services right here I'm going to click on absentee owner. And absentee owner is anybody that owns a house that doesn't live there okay. So the mailing address where the tax bill is sent is different than the property address. Right. And let's just say where I'm in Saint Louis, Missouri, let's go see where in Saint Louis County are the best zip codes, where most of the investors are buying properties right now. And you can do the same for retail buyers. I'll show you that in a minute. But for now, we're going to do where are the investors buying properties. And I'm going to go to County, I'm going to select state, and I'm going to choose the county that I'm in right now, Saint Louis County, bring it over here. And this just takes a minute. And again this is free. You don't have to have a you're not. This doesn't cost you anything right now. But there's 41,940 absentee owners properties in Saint Louis County right now. Then I want to go to click next. And then I'm going to say single family residences and 1 to 4 units. So that's townhouses, duplexes, triplexes, quads, single families, etc. then scroll down again I'm going to say purchased in the last. Let's do six months, last six months, 1390 transactions in the last six months from investors in this area. Cool. And then I'm gonna click next, I'm gonna scroll down and I'm going to say corporate owned properties here. I'm going to say no preference. What that means is I don't care if it's an LLC or if it's a trust or an individual that bought these properties. I don't care. They're an absentee owner, okay. And now I'm going to pretend like I'm purchasing the list and I go here to purchase partial list, and then I'll go here to custom selection criteria. I'm going to choose zip code and bada boom badabing.

Joe:   Check this out. Right here in this table are all the zip codes in Saint Louis County. You can see how many transactions have happened in the last six months. All right. So what I'm going to do here is I have a spreadsheet and I'm going to open that. Spreadsheet up real quick. Next thing I want to do is I'm going to copy all of this data on this table. Now there's notice there's 45 of 45 rows here. If there's multiple pages you have to copy all of the, the text that I want to show you for each page. All right. But anyway, there's only 45 zip codes in this county. I'm going to highlight everything here. And I'm going to copy it. And I'm going to paste it in this spreadsheet right here. And then I'm going to copy these copy. And I'm going to paste them into this tab right here. By the way if you want this spreadsheet you can get it at Simple Land kit.com. Simple land kit.com. It's free. So what this thing just done did now is it sorts over here all of the zip codes and ranks them by total transactions. You see that right here. And so if I now look at just these zip codes I'm going to highlight them in yellow here in these seven zip codes I have the how many zip codes are there. Of the 45 zip codes in Saint Louis County, these seven zip codes right here are where at least 50% of all the transactions are happening. All right. So instead of spraying and praying the entire county, let's just focus on these 6 or 7 zip codes, because that's where we know most of the activity is happening. Now you can do the same thing for retail buyers. That was just me doing it with investor buyers. If you go here to back to List or click create your own, we're just going to look at all the properties and I'm going to for geography select county. Again let's pick Missouri. Let's go into Saint Louis County. Click add. All right then I'm going to go to property select create I know I'm going through this fast. Just pause this video. Then I'm going to do property type first. And I'm going to do single family right there SFR single family residence. Then we're going to go to last market sale date. And let's do last three months 2100. Right now let's go to options. And I'm going to exclude corporate owned properties because I'm just want I just want regular retail buyers. And I'm gonna do owner occupied. All right. Owner occupied. Corporate owned exclude there. So you can see there's 1700 transactions in the last three months. I'm gonna pretend like I'm purchasing the list. Purchase partial list, custom selection group criteria by zip code. Right. And then you do the same thing. You just copy all of this data. Or you could just take a pen and paper and write down all these zip codes and see which zip codes have the most transactions in them. All right. But now that you're in the spreadsheet, what I wanted to just show you was you want to focus in on the zip codes where the majority of the activity is happening. And you can see here (631) 366-3031. These are going to be more blue collar median priced zip codes. This is where investors are buying properties to either fix them up and sell them, or to rent them out as a landlord. So if I'm going to be finding deals, I want to make sure I'm looking for the deals at in the places where the investors aren't. So that's for houses, okay. And again, if you want this spreadsheet, just go to simple land kit.com.

Joe:   Now let's say you're doing vacant land and you want to know where is the demand. Where are all these people looking for vacant land to buy? I like to start with land watch.com. All right. Now I'm just going to click on the orange button. It shows me the map of the entire U.S. here I like to focus on cheaper land because there's just more demand for it. All right. And I'm going to click show me all the properties, the vacant lots in the United States that are under 150 grand. Now, the land watch is owned by land.com, which owns all of the websites that are the most popular websites where people go to buy land or sell land. Okay. And you can see right here Florida, it's very popular Texas, North Carolina, Arkansas, Georgia, California, Tennessee, Arizona, etc.. And so I'm just going to focus on the most popular states where most of the transactions are happening. And, you know, we could go into Florida, for example. What I want you to focus on here is get a list of the most popular states, the most popular counties, the most popular zip codes, and then go dig deeper into them and figure out what is their demand here. All right. So anyway, you can see in Florida, the southwest region is right now the most popular area, then the central west region, then the central region. And if you scroll down, guess what you see right here, Lee County, Charlotte County, Marion County, citrus, Sarasota, etc., etc. this is where the demand is. And now if I scroll down a little bit more here, I'm going to select the button here called sold. Now these aren't sold from county records. These are just properties that were advertised on land.com websites and marked as sold. Okay. And here again you can see Lee county, Charlotte county, Marion County. Now the next step I'm going to do now that I know. All right. Well these are the most kind of popular counties. Let's see where the most solds the most sold transactions have happened in the last three months. And you can do this in Zillow or Redfin. Let's just go to Redfin real quick here and let's look at Lee County, Florida. All right. I'm going to type that in Lee County Florida okay. Now we're going to look at Solds. Let's go. The last three months. Now we're going to look at home type land only. So now you can see there's 2685 vacant lots that have sold in the last three months in Lee County. That sounds like to me, there's a lot of demand here. There's a lot of people looking for vacant land here in this county. Right. The other county was Charlotte County. Let's check that out. The county right north of there, 1377 transactions. And I know some of you are saying, well, Joe, what about competition? That means that there must be a lot of people there trying to do the same thing I'm doing. You know what? Competition doesn't matter now. You may have to talk to more sellers, make more offers, do more marketing. But guess what? When you do get a deal under in these areas and you will, you're going to sell them lightning fast and you're going to sell them for higher profits than you would in other counties, because there's so much demand. That's why we're wanting to we want to be like a little flea on the elephant's back, right? We want to we want to go where the money is. That's where we want to go. So Charlotte County's a great county, and so you just do the same thing. If you click on this Seymour button, you can see a list, go right down the top 20 counties and do what I just did in Redfin or Zillow and see which of the counties have the most sold transactions right now. Why are we doing this? It's always easier to sell buyers what they want instead of what you have. I use this analogy. Maybe it's kind of dumb. Let's say you're walking around in Time Square in New York, right? And you've got this bowl of spaghetti and it's the best spaghetti in the world, right? Like you just you paid, you know, you paid a 4 or 5 star Michelin chef whatever to make the spaghetti for you. And you go walking around and you're trying to sell the spaghetti to people, and you know, they're hungry, but they're like, no, I'm not interested. First they think you're weird and they're like, why that? Why is he selling spaghetti? But what if instead you went around and you put on your, DoorDash or Uber Eats uniform and you walked around and you said, hey, are you hungry? Do you want something to eat? I'll go get it for you. Right? And they're like, yeah, I'm hungry. I'll have a sandwich, I'll have a pizza or whatever. And you take their order, then you go get it for them and you bring it to them. Right. So that's if you want the secret to success, to getting started in real estate investing in 2020 for any year, rather is figure out the demand. Where are they buying and what are they buying and who is buying this stuff, and then go get it for them. You could call this like reverse wholesaling instead of sometimes, you know, people go out and find the deals first. I'm just switching a little bit and saying, go find the buyers first. And I want to show you right now, all right. Let's say, you know, we're going to go into these zip codes. How do you figure out who the buyers are and what are they buying. And my favorite tool to do this is Prop Street. And you can go check out a seven day free trial at prop string joe.com. But I'm not here to, you know, sell prop stream. I just join you like this is one of many tools that you could use to find out who these buyers are and what they're buying.

Joe:   All right. So let's say we're back here in Saint Louis County, and we see the top zip codes are like six, three, one, three, six. So I'm just going to copy that zip code. And I'm going to go to prop stream jokes. Com come and log in. All right. So here in prop stream I'm just going to paste that zip code that I'm looking at 63136. And this is for House is what we're doing now. And you can see where this is. This is kind of North County north of Saint Louis. This is an area where a lot of landlords will buy properties to rent them out. You get really good cash flow in this area. And I'm gonna go right here to filter. I'm going to say owner occupied. No. And there's a couple different things here I want to show you. Kind of my favorite. I'm just looking for absentee owners. And I'm going to say last sale date six months ago. And you can see then 678 transactions from absentee non-owner occupied properties in the last six months. But I want to know who are the guys that owned a lot of properties already. So I'm going to say minimum number of properties owned is five. Here we go. There's 401 transactions now. And if I could download all of these into a spreadsheet and I can analyze. And let's just look at this first one. Here is an example. Specialty underwriting. This must be a huge hedge fund or something because they're based out of Texas. And look at this. If I click Linked Properties they own 2009 properties. This property in particular, they bought it a month ago. It's a 1000 square foot, three bedroom, two bath house, and they paid $79,000 for it. All right. That's good to know. We know what they're buying, where they're buying. We know how to contact them. We have their address right here. We can see that they're a very active investor. They own to 2009. You can even scroll down and export this entire spreadsheet to a. You can download this entire thing into a spreadsheet. You can see that they own property in, Mississippi, Michigan, New York, Nevada, Oklahoma, Ohio. They own properties all over Alabama, Virginia, all over the country. Very cool. You could even then, if you wanted to download this whole thing into a spreadsheet and see, all right, of all these people that are buying these homes, which ones have bought the most? This guy, this investor here, Growth Holdings LLC, is based out of Saint Louis and they own five other properties. So this might be somebody that is just getting into the business. And but this is now you kind of you see here what they're buying. And now you few you can know what they're looking for. And when you find a deal in that area you can contact them and say, hey, I think I got a deal here that's similar to what you've bought before, would you? To be interested in getting more information. Okay. Okay. So now that you know the top zip codes of the top counties, I'm going to give you three simple ways here to start talking to people and start finding deals in those targeted zip codes in those targeted areas okay. And it's real simple. And I remember we were talking before sales is the million dollar skill. If you're not good at talking to people yet, you need to learn kind of how to do it because it's really important. And I would just say practice. But the most important thing about this, when you learn how to talk to people is just learn to be yourself, all right? And for me, I like to pretend in a certain sense that I have $1 million burning a hole in my pocket, and I'm looking for deals. That's it. Right. So when I'm talking to people, I'm just asking questions about the property, and I'll ask ten, 20 questions whenever I'm talking to somebody. And that's how you can learn how to get comfortable and talk to people and just pretend like you've got a bunch of money and you're looking to buy some deals. You don't have to sell yourself. You don't have to sell your program, or you're just acting like a buyer who's got some money and you're looking for a property to buy. Does that make sense? When you kind of have this attitude in yourself, it helps a lot when you're talking to people.

Joe:   So here are three ways that I like to approach talking to people in these areas. Now let me let me rewind a little bit to whenever I am. I'm talking to somebody in an area. I'm thinking of two major things that questions that I want to ask them. Okay, number one, I'm looking for a deal. Do you have any deals to sell? Number two is are you looking for deals? Do you have any deals you're looking to buy? So when I'm talking to a seller, to a landlord, a property manager, realtor or another investor, I'm always asking those two questions. So the first place I like to go is Zillow. Look for rentals on Zillow and then affordable housing.com. I used to be go section 8.com, but if you go to affordable housing.com and I like to go to those two places because I can find rental properties and I can find phone numbers, and I'm just going to start calling the landlords and the property managers and asking them, hey, I see your rental property that you have here in this six, three, one three, six zip code or whatever. And I'm just ask I'm an investor, I'm looking to buy some deals. You wouldn't have any interest in selling that property, would you? Or do you have any other properties that you're looking to sell? That's it. So I'm calling landlords property managers and say I'm looking for deals. Do you have anything like a beautiful house to you? Have you ever considered selling it or whatever? The second place I would go would be older listings. And let me just show you how to do that right now on a website called homes. Com all right. So I'm on homes.com right now. And let's switch back to land. And let's look at some of these top counties here Lee County, Charlotte County etc.. And you can do the same thing for houses. But let's just look at Lee County Florida. And I'll show you how to do this in a minute with houses as well. But what I'm doing is I'm looking for properties that have been listed for a long time and haven't sold yet. And why haven't they sold yet is because the price is too high. They're asking too much money. So let's look here on Lee County. Even though this is a hot market, right? There's a lot of demand here. We're going to find a lot of properties that have had price drops that have been on the market for a long time. So I'm going to select home type land. I'm gonna go to all filters and I'm gonna say I just I don't want the expensive properties listed for everything under 100 grand. All right. And then I'm going to go down here to days on market longer than three months. And look at that. There are 30, 100 vacant lots that have been on the market under 100 grand for longer than three months. What if I did longer than six months, 2091 properties that have been on the market longer than six months in a really hot market? So what if I just started going through this and calling realtors? So I'm going to sort this by newest. So these are the newest properties that hit the six month mark. And if I select any one of these guess what you're going to find. You're going to find the realtors name and phone number right there and many times their email address as well. So if you could just go through and talk to, you know, three or 4 or 5 of these realtors every single day, ask them about these properties. This is Alex. There's his phone number, there's his email address and say, hey, this looks like a nice property. I'm looking to buy some land in the area. Can you tell me about this little property here? Looks like a nice property. Why hasn't it sold yet? Okay. Very simple. The next thing you could do is go find houses that have been on the market for a long time. So let's go into one of these zip codes that we liked before. 63136. Let's go back to homes.com 63136. Right now there's only 118 homes for sale currently on the market. Let's go here to all filters and let's just say days on market longer than three months. Here we go. There are 31 properties now this market is still pretty hot right. If a market hasn't sold yet in three months what does that tell you. It needs a lot of work probably, and it's overpriced. So let's sort this by newest. Here's a two bedroom, one bath home. It's been on the market for 91 days. Had a lot of people looking at it 23,000 views. And it's on the market for $50,000. You know, this is a property that definitely needs some updating, but it's pretty close to rent ready. Why hasn't it sold yet? Well, they're just asking too much. Money. So what if you scroll down here, there's Eric's phone number right there, and there's his email address. Call him up and say, hey, my name is Joe. I'm an investor. I'm looking to buy some property. Can you tell me a little bit about this property here? And also you can ask him later. Do you have any other properties that might be a good deal that I'm looking to buy? You can represent me. Get both sides of the commission, but I pay real generous commissions on any other deals that you bring me. Also, when I'm talking to this agent, I can ask them, do you know of any other buyers that are looking for deals as well? So those are two different ways that you can find deals potentially without spending any money. Go to Zillow, go to affordable housing.com, look up properties that are listed for rent in these top areas. Call the landlords. Call the property managers. Ask them if the properties for sale. Do they know of any other properties that are for sale? Go to homes.com and then look for older listings that have been on the market for over 3 to 6 months. You can also look for price reductions. You want to see how to do price reductions as well. Let me show you this from homes.com. We're looking at this one zip code here. If you go to all filters you can scroll down and you can say all right show me any of them that have had a price reduction in the last 30 days. And here are 26 properties that have had price reductions in the last month. And if you open this up, why do they have a price deduction, Bob. They haven't been able to sell it because it's overpriced. This one's been on the market nine days and it's already had a price deduction. Sometimes you can see pricing history okay. There you go right there. The price history. It had only been on the market a week. And they already reduced the price $10,000 8%. So maybe there's something going on with the seller where he's motivated and they're ready to sell quickly. Okay.

Joe:   But I'm going to give you now the third way to find motivated seller deals. I want you to go network, start networking and calling and talking to other investors and wholesalers that are already doing deals in the counties, in the areas that you're interested in, look for other wholesalers that are, you know, actively doing marketing, and you can find them in Facebook groups and large forums like Biggerpockets. You can go find other investors that are currently advertising properties for sale by owner on Craigslist or Facebook Marketplace, and just start calling them and asking them questions like, hey, I'm looking for deals. Do you have anything? Do you have any deals? Like maybe some old leads that you need some help following up with? I can follow up with your old leads and we can. You can pay me a few thousand dollars out of any deal that I pull out of your old leads. Okay? I know if somebody were to call me. And I'm not saying do this yourself, but if somebody were to call me and say, hey, Joe, do you have a bunch of old leads? I'll call them all for you for free, and I'll follow up with them. And you just pay me out of any deals then? Yeah, I would do that. Who would say no to that? Right. So again, as you're talking to these landlords or these investors, these other wholesalers, I have old leads or you're just calling people that are advertising whether properties that, you know, are wholesale deals. You're asking those same two questions, right? Hey, I'm looking for deals. Do you have anything? And then you ask them, are you looking to buy any deals yourself, or are you looking for any deals to buy? Guess what happens when you start talking to enough people? If you're talking to five people a day and you keep on asking those two questions, you know what? Eventually you're going to find somebody that has a deal they want to sell, and you're going to find somebody else that has a deal they want to buy. Boom, there you go. Now you find a deal, you found a buyer and you bring them together. That's wholesaling 101. And you can do that for land, houses, residential, commercial. That's all it is. It's getting on this phone. This is not a 100 pound cactus, all right? This is a phone. And if you're not on this phone, you're not making money. So if you're just getting started, that's what I would do. I would start networking. I would start talking to five people a day and asking them those two questions. Are you looking to buy any deals? Are you looking to sell any deals right now? Okay, so that's all I got for now. Listen, if you want to see me do this stuff live, I have a three hour workshop where I pull back the curtain, go to Joe mccall.com/saturday, and you're going to watch me actually pick a market with you guys. And I'm going to go into that market. We're going to find out who the buyers are. We're going to find out that we're going to start a marketing campaign for sellers. We're going to start calling realtors. We're going to start making offers. So join me on my next Saturday workshop at Joe mccall.com/saturday. We'll see you.

 

 

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