Kris Krohn here.
And today,we're talking about how to make lots and lots of money in the game of real estateinvesting with properties that have problems with liens.
Could be a tax lienand involuntary lien.
A mechanic's lien or something different.
If you're interested in making the mostamount of money and saving the most amount of time, there's a software thatyou need to know about.
We live in a high-tech world.
Real estate is alow-tech game.
And in house, I've got my friend Burton.
He's in from PropStream.
He's joining me from California.
He's out there rocking and real estate out therebut his company that he works with has created a national data source.
Allacross the United States of the very best deals.
And their software, I'venegotiated a deal where they're making it free to you.
What we're going to do todayis actually show you how to do a search in your area to find someone that has alien, make it forced into foreclosure if they don't get taken care of.
Has equityin the home and needs someone to come in and buy that property.
We're going to showyou how to actually work that deal.
So, let's make it happen Burton.
Solet's take a look at Salt Lake City here.
And when we search Salt Lake City ingeneral, we have over 2400 involuntary liens recorded.
But we're going to siphonthrough them.
-Yeah, because I don't.
I don't know about you but in your area,when you actually log in and you use your free account that you can get rightafter this video, it's in the link below.
You're going to actually follow this exactsame search.
It's going to automatically pull up your area.
And if we got 2400liens, it's helpful to actually know that.
But I want to call 2400 people.
So how dowe take 2400 and turn it to like the best 20 people or the best 5 people thatwe could call.
And I'm going to give you some pointers.
So, we might wantto write this down.
So the first thing we're going to do is we're going to start offby determining whether we want a property that's owned or occupied or not.
For me, I like owner-occupied.
It prevents me from having to chase where the ownermay potentially be.
So we're going to filter through all of our liensand then for property type, we're going to do single-family.
Anything between 3 to 5bedrooms.
-That's kind of my normal search.
As I like to be in that 3 bedroom to 5bedroom range.
And then maybe like 1 bath to 2 bathroom range.
-And we'regoing to do that.
One to two bathroom range.
Now, the next step is MLS status.
Now, thisis important for me.
What I like to do is I like to look for liens and voluntaryliens that are not yet on the market.
So I'm going to specify that I want resultsthat are not on market.
Reason for that is I want to make sure that the propertyowner hasn't reached out to a broker yet.
So guys, we know that someone.
This iswhat Burton's saying.
We got someone that has a problem.
They've got a property.
We're going to find out that they have equity and they need to solve that in avery short period of time and we know that because it's not listed on themarket yet that they don't have a solution.
Which means, they're waiting forsomeone to come into their life and say, "Okay, I get it.
You owe this money.
I canhelp you fix that, here's how we're going to do it.
So once we specifythat it's off market.
The next thing I like to do is specify ownership info.
Iusually like to hunt down individuals, right? And again, a lot of them don't knowthe solutions or don't know their options.
So, I look for individuals.
Thenext step I can do is I can specify the lien amount.
So, I can specify the type oflien I'm looking for or the minimum lien amount reported against the property.
So,I like to start off at a minimum of 5,000.
-Because that'll crypt.
I'll getsomeone motivated.
-Correct and then I can search for either tax liens, H-O-Amechanicals and utilities.
So for me, I like to do the tax liens.
-Tax liens haveto be solved depending on where you live in a certain time frame in a lot ofareas.
If you have a tax lien and you don't clean it up in ninety days forexample.
Then it starts to.
A pre foreclosure process on the propertywhich means this person that lives there is going to lose their home if theydon't find a solution.
Next step is we can do anestimated value of the property.
So in this situation, I'm looking forproperties that are up to a quarter million dollars and the most importantbut last step, I like to look forward is equity percentage.
And so Kris, whatpercentage you think you start with today? You know, um, you know I always lookfor a minimum of 20% to make a deal work but you know for fun, let's have somegeeks and kegels.
Kicks and Giggles.
Giggles and Kicks.
We're going to go forsome giggles and kicks and let's go for 30%.
So, now we're going toapply.
And what we've done ladies and gentlemen is we've now isolated 7properties of the 2,400 in volunteers.
That are single-family, not on the market.
They had 30% in equity and they owe at least a minimum of six.
By six thousandor more.
So check it out.
I want you to understandwhat's happening right now.
It literally in a matter of a couple minutes with thefree software that you can have.
This is so incredible.
Burton has just taken thisdown from 2,496 people with liens.
And he said,I'm looking for homes with equity, I'm looking for homes with at least a 30percent equity position.
They have a lien, they got to get that satisfied.
It's noton the market yet, they haven't actually listed it with a realtor, with a broker.
And they know.
We know that they need a solution.
So let's actually take a lookbecause we've narrowed it down to 7 which is actually freaking amazing.
Let's see what we find here with these 7.
-And this oneis actually a really good one.
It has a photo on there.
So let's take a look at8:22 bus wash.
So, what we know here, it's a three bedroom one and a half bath.
Weknow Brice owns the property.
We seized property characteristics.
Each wayinformation, site informing, last sale information.
Including his mortgage information.
-You know everything.
Everything that you can possibly pull.
And what is he.
Oh! -Soright now, based on the mortgage information we have, we've been able toreverse calculate his minimum payments.
So he's sitting on a balance of $132,000.
with a $13,000 lien.
So, if we were to addthat together, he owes roughly about a $150,000.
However, here's the good thing.
The average comps right now.
We have 10 compswithin a half-mile radius that our system has identified.
And they're sayingthat the average comp price is 237.
There's a lot of margin.
-Sobasically, that's this top right number that $87,000.
It's basically saying, ifyou were to buy this house for what he owes and what his lien is, there wouldstill be about $87,000 dollars of equity on this property.
Youcould go to him and say, "Hey, I see you got that going on.
Do you have a solution?""No, I went to the bank and I couldn't this and I couldn't that.
You know, Ithink I might have to sell my property.
" Hey, what if I came in and actuallypurchased that property? I could actually buy your property for you know, $200,000.
And he's going to save.
He might think hisproperty is worth 180, he might think it's worth 240 but you'rebasically coming in saying, "You don't have to pay realtor fees, you don't haveto pay those normal selling fees.
" You're buying this home guys.
$37,000 potentially below market.
You're getting a great deal on it.
You're solving a problem for him.
He's walking away with the pile of equity.
And there's so many other waysthat you could actually solve problems on this property.
This is just one ofthem.
In fact, this system is so versatile.
It has ways of finding deals in so manydifferent ways.
This is just one of them right now.
And it's hot.
And it's prettyamazing.
We basically narrowed it down.
I can take the next hour.
I can callthese seven people.
and I'm probably dealing collectively with over a half amillion dollars of potential profit.
So guys, that's that's doing real estate ina super profitable way.
I've actually worked to deal with that with propstream.
I said hey, I want to get this to my clients for less than anyone else onthe market can get it for.
And I want a free trial.
I want them to go ahead andtest drive this.
I know that I'm going to be using my PropStream account for life onall of my deals.
Because hey, the moment you sign up with the realtor, you'vesigned up.
And that doesn't mean that Realtors are bad or shouldn't work withthem, I'm just letting you know that you've signed up for something.
It's anexpensive tax that unknowledgeable people have to pay.
You don't have to paythat tax when you have access to this information because that's what you'rereally utilizing an agent for.
Now, you can get access to the very best deals atthe click of a finger.
There's just one more thing I want to show today.
Yes, youcan go to the link, yes you can actually go and start your free trial version ofit right now.
But I want to ask if I like my search and I want to know is there away that without doing more work, I can now just get an email notification everytime a new deal like this comes on the market? -Kris, you've read my mind andabsolutely.
In our system, once you applied a filter, we have a saved searchbutton located at the top right and what this will allow you to do is name it.
Sowe can call this the "Kris Tax Nameless.
" Alright and we can right below thatadd our details to remind us what we were looking for.
So off market.
You know,minimum 6,000 against the property.
We even have the ability toreplace any of these boxes.
So, if you don't use the MLS box for example, youcan now replace it with your own criteria.
-Oh, that's awesome.
-But most importantly the last step here is thenotification process.
So our system can email you immediately at the end of theday or at the end of the week if your results change.
So today, after Isaved my search, we had seven results.
If tomorrownext two days, three more results populate.
I don't even have to be on thesystem to get an email notification.
-Guys this is what this means.
You can utilize the system tobasically find motivated buyers.
You don't have to go down the taxes andapproach.
It could be new properties that hit the market, could be pre market, itcould be foreclosures, it could be auctions.
You basically just set a searchand then that active search will give you leads that you can do to make a pileof money with.
But you also have the ability to save it and be done and justsay, "Hey, you know what? Set it and forget it.
Just send me my emails from my 3different property search types.
" And when you find a property with 50% equity andthey're going to list it for a way under market or this is going to happen.
You know,notify me and then guess what? You have now this machine going to work for you.
And all you have to do is just wait for the lead to come in and freaking rock it.
Once it does.
Friends, it doesn't get better, doesn't get easier than this.
Listen, you got to go back to the owners and just let them know again how much Ilove them.
I love this system.
This is the coolest solution in the whole realestate arena.
And we've negotiated something free for you guys.
Takeadvantage of it.
If you're serious about the game of real estate and winning inlife, this is the way to do it.