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How do I find subject to deals? Isn’t that funny? I made this video a long time ago, but today we’re going to make it a little bit more specific subject to strategy for first time homebuyers. I get a lot of people that are like I don’t have credit I don’t have credentials that no lender is going to give me a loan paste subject to sounds like it’s the right strategy for me. In today’s video, we’re gonna show you exactly how to get your first sub to deal as a first time homebuyer. Alright, so if I am brand new, I don’t have a wholesale business, right? Because here’s what ultimately happens somebody has to generate leads, right?
So you have typically in our world you have a wholesaler, right? Or you have an agent and these two individuals are finding leads they’re finding motivated sellers all the way over here and these motivated sellers are saying oh my gosh, I’m in a bad situation whether it’s foreclosure probate, maybe somebody passed away in fact, I walked in I probably have a lot of dead skin cells all over my body right now because I was in a dead person’s home today. Legit I really was because I was looking at a distressed property owners house today. That is where a lot of real estate deals come from.
So what most people do is they think, Alright, I want a deal. That means I’m going to go to Zillow or Redfin or I’m going to go to the MLS the MLS for a lot of you guys that don’t know that multiple listing service. So place where all real estate agents post their deals is on the MLS. So if it’s on the MLS, it’s on Zillow. It’s on Redfin, that means the sellers probably 99% of the time not in any sort of pain or any sort of desperation or they’re not in a bad situation what that means I can’t help them and so they’re looking for top dollar, if they go that route, if they go through MLS, Zillow, Redfin, or any of those types of listing services, that means they’re asking top dollar, they have no pain, they’re just selling their property, what we really need is we need to either a become a wholesaler or a marketer, or B, we need to find a wholesaler or marketer that is communicating with sellers directly.
Now what we do a lot of times check this out. I think we have a list what we do is we go to a little company called batch leads.io. Okay, so if I go to batch leads.io, guys, you guys can see this on our YouTube channel. Check it out. I have pulled 291,000 properties in my batch leads account. Alright guys, so I’ve brought Giselle in here, she’s a beautiful blonde, She’s not my wife, but my wife does know she’s down here in the studio. Okay. Alright, so here’s what I want. What city do you think is cool? Where would you and Eric want to move one day? Yeah, anywhere in the country in the United States? How do I spell that? Okay? A UI, okay. They know how to spell better than I do. Kowai Hawaii, USA.
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Alright, so we’re gonna search that and here’s what’s gonna end up happening. We’re gonna zoom out just a little bit and you see how it kind of auto populates certain properties all over the this a little map, what’s going to happen is we can filter this, check this out right now, there are zero pre foreclosures, there are 180 absentee owners, and there are 453 properties free and clear. Okay, so there’s not a lot of property in distress here. So let’s see if we can zoom out just a little bit and we want to find a property that is in distress. Okay, so quiet is probably not going to have a ton of distress. In fact, there are no distressed properties here.
So property foreclosures, nobody’s in foreclosure on Calais, that means nobody’s behind on their mortgage payments, that’s a big deal. So if I want to find a deal there, what I’m typically going to do is I’m going to go find wholesalers that are knocking doors, or making phone calls or marketing to sellers with properties that are run down, what are they doing? They’re driving through neighborhoods, and they’re looking for distressed properties. And they’re calling those owners and they’re saying, Hey, would you like a cash offer? What happens is, that’s a really quick indication of like, wow, Kawhi has no distress.
Whereas if I go to let’s go to Dallas, Texas, if I go to Dallas, Texas, what’s going to happen is you’re going to see in the little quick filter, it’s going to be a little different story. 935 people are currently in foreclosure, just why would somebody go into foreclosure, you have any understanding why that somebody would go into foreclosure like in this moment in time because of COVID Maybe, but what is foreclosure mean? making payments? Right? They stopped making payments right? So why would a seller go into foreclosure instead of just selling their property and getting their equity because they don’t have any equity? Interesting right?
So if somebody doesn’t have equity a lot of times like we’ve just bought a property on 405 branch forest way do you know about this house we just bought course you do. Because you watch the seller call seller call in the link in the description down below. Okay 405 branch forest way do you see this right here it says Pre Foreclosure okay. So what I would do is I would go after Pre Foreclosure Can you believe I bought that house just closed on it a couple of days ago five bed five bath house 40 176 square foot house and I didn’t have to come out of my pocket with any money because I bought the house subject to so a lot of people that are like I’m a first time homebuyer I want to buy a house subject to well, is that a property that you guys would want to live in?