hey Mike we're live we're live hey guys what's going on welcome yes yes welcome right to the 100 offer challenge glad you guys are here we're gonna get started in just a minute here we're letting people in glad you guys are here just checking everything to make sure we are good to go Tech check tech check I like that that's right Tech check day two 100 offer challenge nice yeah hey everybody as you chime in let us know yeah say hello let us know where you're from again love seeing everybody uh where you're chiming in from always fun to see man we got so much to share with you guys and to teach today we want to make sure you're here we want to make sure that you are committed right now today to take Mass action massive imperfect action we're going to be talking about making offers because that's what this challenge is all about so type in the chat are you still all in are you still committed that's and ready to make this happen and um yeah we'll get started in just a minute make sure we're good we're live I'm checking my social media feeds we're there let me check the YouTube the Facebook group bam awesome okay I'm excited Mike yeah same I think we're good so um same you're seeing the comments good listen um today we're gonna be talking about day two making offers and we're going to be talking about making multiple offers uh very very quickly we're going to show you the hard way and the easy way not that the hard way is actually any hard hard but it's when you compare to the easy way that we're going to show you like it's going to be crazy but we've said this you know yesterday a lot right the number one rule in real estate is to make offers make offers make offers if you're not making money you're not making offers if you're not making offers you're not making money and it's it's very important you understand this like this is deal making 101 if you want to make money in this business you need to learn how to make offers and your proportion your speed to income is in direct proportion to the number of offers that you make and this isn't complicated this doesn't need to be difficult this is very very easy we're going to be walking through the easy steps on how to do this right now on this challenge Mike you ready to go you ready to jump man I was ready when I got up this morning let's do it let's go so team here's what we're going to do day two we're going to do a quick review on what we picked up yesterday and what we just discussed yesterday on day one and then as I promised yesterday on day one every day in the challenge is going to build on the previous days all right and so we are going to jump straight into this quick review of Day One manual versus automated team listen up Joe and I both are going to be showing you two paths today there's going to be a manual path and there's gonna be an automated path and I'm just telling you that later on in this session automation is going to be on full display all right automation is going to be on full display today and you're going to start to see the power of it we talked about it yesterday we get a uh we did a quick sneak peek of the market analyzer we talked about the offer generator tool and the ability of that Tool uh to generate offers on your behalf you're going to see that on full display today where you can generate as many offers as you want 10 50 100 a thousand plus with just a couple clicks all right so that's where we're headed but as promised as we talked about yesterday we are going to show the manual path and the automated path okay at this point in time your list should be built if your list isn't built you're only a little bit behind so don't panic stay engaged here on day two and then you may have to go back to day one and revisit that and get your list built your list of opportunities at this point in time should be built okay like I said if it's not you're going to do homework from day one one and day two as we wrap up this session here today number three decide that you're in the action taking bucket we love seeing the comments yesterday that shouldn't change from day to day you made a decision stick to it commit to yourself commit to the challenge and let this be a true Line in the Sand week for you that's what it should be and that's what it will be when you follow along with the different steps that we're going to give you each and every day um you know today's going to have a very similar field we're going to teach you what you need to know then we're going to show you how to do it and then your homework or your action steps for tonight are going to be to go and get some offers prepped okay so we're gonna walk you through this now VIP access remember um access to Freedom soft number one so you can use these tools that are going to make your life a whole heck of a lot easier and then number two long-term access to the training videos so that if you need to go back and review these you have the ability to do so all right and then more of you today will be jumping in on the automated path with Market analyzer all right many of you did yesterday already more of you are going to jump in today highly recommended and I'm just telling you that you are going to see automation on full display today and it's awesome okay so those are the two links VIP is joac call.com 100 viip and then to unlock Market analyzer in your account joac call.com 100 fast okay no offers equal no money no action equals no result those are going to be uh I'm going to bring those up every day I'm not going to let you forget them because it's absolutely the name of this game all right no offers equals no money we talked about and and here's what you're going to do this week as you take action um and the action steps that we're going to lay out for you each day you are starting to create a new normal you're starting to build some new habits and they're really really powerful habits okay remember we talked about this quick yesterday we're all creatures of habit if you're not in the habit of making offers that's what your mind tells you you get up the next day and your brain says hey we haven't made offers in a long time we shouldn't make anymore today and that that way of thinking or that habit keeps you stuck in a world where your business has no Pipeline and that right there are no deals in the tank that's not where you want to be that's not where you're a part of the hund offer challenge so we are going to take some intentional steps in a New Direction so that you start to build a new habit of making consistent daily and L offers and once that habit has been generated that puts you in a very very powerful situation all right that's what we're moving towards inside of this challenge the habit of making consistent offers okay the goal this week is breakthrough your expectation should be that this is a breakthrough week for you and your business all right that should be your expectation we started out yesterday with Simplicity we are going to continue today with simplicity we started out yesterday with systems we are going to continue with systems and you are going to see uh especially with the automation how scale starts to get built into this because I'm just telling you you can literally in the amount of time it takes to put together an offer one offer manually and prep it you can go prep and generate offers on a thousand plus records That's The Power of Automation and the tools that we're going to be showing you this week we're still going to teach manual and automated but I'm just telling you that automation is a massive timesaver don't underestimate the value of your time all right your time is valuable these tools can help you use less of it to still accomplish the goal this week okay now we mentioned this yesterday we need opportunities we built our list I built a list in St Louis you built your list all right that was the homework yesterday so we have our list of opportunities number two a pricing formula we are tackling that today the next logical question is okay we're going to make offers how much in the heck should I offer what should my offer amount be we're gonna answer that question today both for houses and for land right and then obviously technology is going to come into play at every step of this challenge all right I just mentioned it but here it is let's answer the question how much do I offer clearly it's a relevant question and I mentioned it yesterday some of you were already thinking hey I'm willing to make offers but how much do I offer sit tight and we're going to show you okay now I'm going to teach first on houses and then I'm going to hand this over to Joe and he's going to teach the method on land and then what we're going to do is we're going to go over into Freedom soft and I'm going to show you how to put all this together in freedomsoft for houses and then Joe's gon to show you how to put all this together inside freedomsoft and start to prep offers for land okay so sit tight jot down notes or have your uh your smartphone ready if something comes up on the screen that instead of writing it down snap a photo of it right one of the best ways to take notes ever now that we all have uh cameras in our pocket 247 okay so specifically on houses right we're on the house track there are two anchors that we use and that buyers use when they're going to go analyze a deal and the two anchors are arv after repaired value relevant to a Fix and Flip that's shortterm is short-term real estate investing all right buy it renovate it sell it it's all the cool shows on TV okay for the anchor for a rental property is gross rents if I bought this house and renovated it if it needs some work how much could I rent it for how much income do I believe this asset could produce for me month after month after month with a tenant in place and so what happens is when a buyer whether it's a Fix and Flip buyer or a landlord buyer when they go to make an offer or consider buying a new property they work some math and that's what we're going to talk about today I'm going to show you how to analyze a deal Through The Eyes of an end buyer and the reason that's relevant is because as a wholesaler if I know what an end buyer is willing to pay then I know where my offer or my uh my wholesale price needs to be because it needs to be below right what the end buyer is willing to pay so this this is all going to come together here but there are two anchors buyers don't buy property on a hunch they run math they look at data and that's what we're going to go over today all right number one on a Fix and Flip the anchor is a after repaired value now to qualify for an anchor you have to be able to go look at the data we don't operate on a hunch on what we think the property is worth we go in and we look at comps sold comps short for comparables all right and we look at other similar properties in the area or nearby that have sold and we say okay if these other properties sold for this price it's reasonable to think that if this property were fixed up that it could sell right in that range as well all right and so we go to the Anchor which is recent sold data of similar properties in the area so that becomes the anchor the anchor is the starting point and then the math Works backwards from there okay closing costs this isn't news to anybody especially if you bought a house there are closing costs involved every time you buy a house there's a title company involved or a closing attorney and there are costs associated with that closing those have to be accounted for next one holding in loan cost when the buyer is looking to buy a Fix and Flip property using borrowed money from a bank hard money private money portfolio lender whatever that is anytime you borrow money there are costs associated with it okay they 100% are going to take into consideration the cost of the funds the cost of the capital and that gets built into the equation closing costs when you sell it Fix and Flip is short-term real estate investing I'm going to buy it I'm going to renovate it I'm going to sell it when you go to sell it again you have closing costs give or take 10% right you're probably goingon to hire a listing agent to go list it it's likely that the buyer comes in is also working with a real estate agent and they're going to get paid again you have another set of closing costs you have uh you know your portion of taxes for the amount of time that you own the property and so on but those also have to be accounted for okay next repair cost this is a big one how much work does the property need to get it into a fixed up condition so that it can be put on the market and sold right and this team this can be all over the board okay me just speaking from experience for myself I've done $20,000 rehabs and I've done multiple $100,000 rehabs depending on the property and the location and what we were doing to it and so again repair cost is a a a key item that needs to be added in here because this is a huge question what are we going to do to this property are we putting granite countertops in the kitchen or are we buying you know a lesser expensive option down at the Home Depot what level of appliances and light fish and all that that's going in so a a massive item in here potentially a massive item is the repair cost again that has to be built into the numbers and the math profit you cannot well you can but this would be a huge mistake when a buyer's looking at a deal they're going to say okay the minimum profit we need to make is X and what you're going to find is that number varies based on the amount of risk or perceived risk the buyer is taking so smaller faster uh renovation project they may be willing to take less profit than on a bigger Longer term uh renovation project all right so again they're going to build this in this is the math that buyers are going through when they look to evaluate and they look at a Fix and Flip deal and they say a should we buy it and if so what would we be willing to pay for it all right maximum allowable offer the Mayo all right Mao it's an acronym what happens is the buyer starts at the anchor if the property was fixed up what do I think we could sell it for that's the after repaired value and then they back back out the closing cost on the buy side holding and Loan cost closing cost on the sell repair cost and profit and the the buyer the potential buyer comes up with this would be my Max allowable offer based on all these other numbers all right now as a wholesaler the buyer's Max allowable offer is not your max allowable offer assuming you want to get paid in the transaction if I think a buyer is willing to pay amount call it 50 Grand I'm not going to go make an offer or try and put that deal under contract for 50 Grand right I need to be below 50,000 so that I can mark that up or assign it to the end buyer and get paid inside the transaction all right and so from a wholesaler standpoint we analyze the deal through the end buyers eyes to determine the Mayo the max allowable offer and then we say Okay I want to be the wholesaler in this transaction so my offer price needs to be below the end buyer's Mayo in this case we took the Mayo minus uh or you can see the the math there the assignment fee the wholesaling fee whatever you want to call it and that would be your offer price okay now Buy and Hold some of the items are similar some of them are going to change the anchor is gross monthly rents okay what does the property rent for 850 a month month ,000 a month, 1500 a month 2400 a month what are the gross rents and again we can go to data to look that up all right just like with an after repaired value we can go to sold comps to determine rents we can go to rental comps and we can look up and freedomsoft has this data already built into it what are other similar properties in the area currently renting for and based on that we can make an accurate prediction about what do we think this property that I'm looking at would for okay so the anchor is the annual rent and then what we do is we multiply that annual rent times 70% why do we do that well because it's roughly ballpark the rule of thumb is it's about 30% to operate 30% in expenses or overhead to operate single family home rentals and that 30% we have another acronym here you see on the screen um they're in all caps T mm Tim V taxes Insurance management maintenance and vacancy all right the common and the known expenses for a landlord operating rental property property taxes are still due you still have to ensure the property as the landlord owner the first M is for management you're likely paying 8 nine 10% to a property manager the second M is for maintenance which over time on rental property you will have a maintenance expense and then the V is for vacancy over time when you own rentals they will not be OCC occupied 100% of the time and so it's about 30% is it more in some areas yeah is it less in others yep but it's about 30% okay so what we do is we take our gross annual rent number let's say we have a property for easy math that rents for a thousand bucks a month we would call that gross monthly rents net monthly rents would be 70% of that or $700 a month all right 300 a month in overhead timv okay then divided by the desired rate of return okay so we're going to annualize monthly rents and I'm going to show you an example with numbers right I'm teaching the the formulas here and everything that's going into this and then we're going to put some numbers to it all right divided by the return on investment the ROI okay is the end buyer looking to make eight% return on their money 10% 12% 15% whatever it is and again I'll put some numbers to this in just a second so then that buyer is still going to say okay so here's right here's my starting math but when I buy it I still have closing cost whether it's a Fix and Flip or buy and hold it doesn't matter you have closing costs right we got to account for them loan cost again are they using borrowed funds to buy the rental property okay they got to account for that repair costs don't assume that just because somebody's buying a rental that the property doesn't need any work all right a lot of times investors and landlord buyers will buy a rental property that needs some work so they'll buy it they'll renovate it and then once it's renovate it instead of putting it on the market to sell it like a Fix and Flip investor does once the property's renovated they can now place a tenant okay so again repair costs are relevant does the property need 5,000 in work does it need 25,000 in work it's a really key number obviously to this equation here so again they do the starting math based on the anchor and then they back out the expenses all right now profit on this one is totally different it's not a lumps some profit number like on a Fix and Flip it's a monthly cash flow number based on the numbers again Buy and Hold is long-term real estate investing okay and then just like you'd expect as a wholesaler okay I take the landlord or the the buyer's Mao their mayo and say okay if they would be willing to pay X I know that I want to get paid as a wholesaler so my offer price would need to be below that number all right let's put math to it say we have a property with $160,000 arv renovated we think we can list it for 160,000 that's what the recent sold comps are telling us okay so we come in and we build in all these numbers about $1,500 in closing costs about $3,000 in holding and Loan costs while we have it under construction and the money's borrowed all right next one 16,000 I said it's you know roughly plus or minus about 10% of the listing price that you're going to pay real estate agents that are involved again you have closing costs and Title Company fees you know property taxes all that stuff gets built into it all right so is that that'd be 16,000 20,000 in repair cost and we have a minimum profit on this deal of $120,000 to go and do this renovation all right so the total cost to get the deal done you can see they're totaled up $60,500 simple right pretty simple math here we take 160,000 minus $60,500 and the Mayo becomes 99,500 from the end buyers perspective now enter the wholesaler wholesaler says I want to make five grand on this their offer price needs to be right around 945 now team I want to say this because this is important it's not when when we're making offers all right and we're operating like this it's not that uh you know 94,500 is the right offer price and 95,500 doesn't work that's not the way this works we need to be in the ballpark okay because we take a deal as a wholesaler and you give it to three different potential buyers and then you ask each buyer hey what's your rehab estimate on that property you will get three different numbers every single time they may be similar they may not be similar but I'm just telling you you get three different numbers okay so as we go into this and we're a part of the 100 offer Challenge and we start to make offers the reason I'm saying this now is because some of you um are are at risk of getting into what we call analysis paralysis and you're just going to be you know chewing on this thing going what is the exact right offer price there isn't one we look at the math we understand how the math works all right we use some ballark figures is it always $1,500 in closing cost to buy a house no but it's a good estimate all right is it always 3,000 in holding and Loan cost no but it's a good estimate so you can't get tripped up on exact and perfect those numbers aren't allowed to play ball this week okay we need to be in the ballpark and what you're going to find tomorrow is when an offer goes out there's a thing on there called an inspection period which is the time that if you had to make an adjustment to something like this that's when you would look to get that done so more on that tomorrow on day three but do not get hung up on $94,500 is the offer price but 95,000 is too much nope that's not how this works we got to be in the ballpark okay all right Buy hold in this case we have a property that rents for, 1500 bucks a month that's the anchor gross monthly rents is, 1500 we take 1500 multiply it by 12 and that would give us the annual gross rents and that numbers 18,000 all right then we take 70% of it 70% of 18,000 is 12,600 we would call that net annual rent so we have monthly gross annual gross annual net all right we're using the net annual number ni net annual income and then in this case the buyer wants to make 10 about 10% on their money 10% return and so we take 12,600 divided by 10% and that gets us a number of $126,000 all right but now we're going to buy a rental so we still have closing costs right we still have some holding costs we still have some repair cost and so you you can see we brought in $1,500 in closing 2,000 in holding $20,000 in repairs all right minus 235 so again we're going to do the math 126,000 minus 235 the Mayo is 1025 all right minus a $5,000 wholesale fee wholesaler offer price would be around $997,500 so team what we're doing here is I'm showing you how an end buyer with two different exit strategies one is short-term Fix and Flip one is long-term Buy and Hold how buyers in both of those spaces are going to analyze a deal to determine their Mayo their Max allowable offer now it's Max allowable offer so as a wholesaler if you get a deal tied up you know at a considerably lower price would they pay less for it of course right Max allowable offer what happens is you can always buy cheaper but at some point based on the numbers of the deal right you put a hard line in the sand and say hey based on these numbers and this amount of repair and all these numbers involved I couldn't pay more than x this number that's the male all right on properties now I'm going to show you the faster method okay that was all of the math drawn out and broke down and the reason we do that is because if I just pulled up a slide and said here's how you do this take the arv time 60% some of you that are a little more skeptical would say there's no way that's how it works there's no way that number accomplishes what you're trying to accomplish here and it absolutely does and again it gets us in the ballpark so over on the left you see the drawn out math and it came to an offer price of 94,500 and over in the Red Square there that's outlined you see we take the after repaired value 160,000 times 60% and we're at 96 uh I just heard I'm quieter than Joe and so I'm going to adjust up a volume because I'm talking pretty loud so thanks Henry I don't know if that helped or not but I'll keep talking loud so team after repaired value times 60% gets us in the ballpark this is where you can't get tripped up you're like well Mike is the offer 945 94 ,500 or 96,000 it's either we just have to be in the ballpark all right now watch this on a Buy and Hold we can run this same simplified formula on the buy and hold over on the left we have all the math I just went over we get down to an offer price of $97,500 again on the rental property we take the after repaired value the 160,000 all right times 60% we get 96 and again it's in the ballpark that we just need to be in the ballpark all right so what we're gonna do now that we've gone through this and I've talk you about the two anchors is Joe I'm gonna jump into your slide and I'm gonna let you teach through these for land all right and then what we're gonna do what we're gonna do is we're gonna switch over into Freedom soft and I'm going to show you how to apply this to the the house list that we we built yesterday and then Joe is going to show you how to apply it to the land list if you built a land list all right yeah so Joe I'm gonna jump to this one and uh you take it away yeah so just to confirm you guys can hear me am I good Henry yep we got you okay Mike good yep um this is real simple and those of you guys out there and I was just like you at one time you get stuck in analysis paralysis and you're just like oh well I got to know the exact number to the penny of what I should offer or else I'm going to get in real big trouble and I'm going to go to jail or something like you you freak out because you're worried that you're going to make a bad offer but all we're doing here is getting in the ballpark right all we're listen our challenge today is to make a hundred offers we don't want you to spend more than a couple minutes five minutes max on creating these offers and we want to give you the permission to make mistakes we're going to give you the permission to fail forward okay we don't want you stuck in like an over analysis and you got to come up with the right number here's the deal especially with land there's so many unknowns and it's not uncommon for us to have to go back to the seller and say you know what we didn't know about this or that or whatever and we need to adjust our price a little bit that's okay the our contracts the ones we use for land the one Freedom soft has in Freedom soft for houses it allows for adjusting your offers in case you make a bad offer all right so anyway kind of the hard way I guess quote unquote for making offers for land the math you just kind of what I like to do is when I got to make sure when I'm listing my property on when I'm advertising my property I want to make sure it's cheaper than all my competitors that's what I'm looking at so I like to take a look at maybe the average of the three lowest competitors who have similar properties nearby and I'll show this to you in a minute um uh you want me to show that now how I do that real quick Mike or is are we going to do that when we actually do a deal in yeah yeah go through uh this slide in the next one um in the math and then we'll switch over into Freedom soft all right then when I show my freedom soft I'll show how I do that in red fin it's really easy I just use red fin for that but I get the three lowest sold the I'm sorry the three lowest active listings because I want to make sure mine's the cheapest and I average them and then I discount that maybe 15% so if everything else is averaged about $8,997 I'm going to list mine for 16,1 147 my goal is to make everybody else mad at me that I'm listing my property so much cheaper than theirs because I want to sell these things quick right and so then I got all I'm going to list mine for maybe uh$ 6,147 or whatever and then I subtract my costs that's all I'm doing here I'm gonna subtract five grand for my wholesale fee I'm going to pay a realtor to the list that I'm going to pay them 10% sometimes I offer a bonus to a realtor sometimes I borrow private money but in this calculation I'm not factoring any of that I have an oops factor of a th000 bucks I pay somebody 500 bucks to take photos I subtract any back taxes I subtract my closing costs and I come up with my offer of $ 6,533 okay there's no repairs this is why I love land so much right I'm not worried about repairs not worried about arv the after repair value I'm just like what can I sell it quickly for and then subtract my costs as long as I'm making five grand or 10 grand on a deal this is where I need to be at and typically also I'll add this you want to make sure you're not more than 50% of the list price so if you're listing it for 16,000 you want to make sure you're not more in this case you want to make sure you're not more than $8,000 that's 50% of 16,000 make sense all right so the next slide is the easy way you just take the whatever you're going to list it times 40% that's it that is just going to get you in the ballpark that's going to get you 85 95% of the way to where you need to be it's as simple as that that's let's jump let's show them how to do this in Freedom s let's do it let's do it okay now we talked houses Joe just talked land so I'm gonna take back uh sort of the rain the rains here and I'm going to show you how to apply what we just went over to the list that was built yesterday all right and I'm gonna go ahead and show right we told all of you that there's a manual path and an automated path so Joe let's do this I'll drive for a second and I'm going to go into the list I built yesterday and I'm going to show the manual way first and I'll do a couple examples and then I'm going to show the automated way all right and then I'm gonna let Joe Drive uh on his computer and he's also going to be in freedomsoft and he's going to show you the manual way to do this all right and then he's going to show you the automated way to do it okay so here we go now team you'll remember I was in the same account yesterday and I came up here and I'm gonna go to the leads Tab and my list and here sitting right in front of us is the same list that I built yesterday, 1422 records in it all right and I'm going to come over here and I'm going to click into it and I'm going to come up here and click the big blue viewall button when I click the viewall button in Freedom soft it takes us to this page we call it around here the spreadsheet view but it's got these different column headers on it all right and now I can start to look through these are listed 20 per page okay and we are going to jump into the manual method on how to do this so what that means is we have to go in for these properties and figure out or make a determination on what we think arv is the after repaired value because once we know the after repaired value we can take 60% of it have your phone ready with the calculator on it okay we can take 60% of it and we can input that number as what we're going to be using as the offer price all right so let's do this I'm just going to click into the top one and I'm going to work down a couple here with the manual method and then as promised you're going to see automation on full display all right so here we go top one 1395 Blue Field Drive th property owner one LLC is the owner and when I open up this record inside freedomsoft there's a big blue button over here that says view snapshot all right and I'm gonna click on it now when I pull this up a couple things obviously the big uh color photo that's coming in from Google is eye-catching but one of the things that I'm I'm going to glance at is freedom soft up here in the upper leftand corner calculates a freedom soft estimated value think of it's similar to a zillow's estimate all right there's an algorithm that's working behind the scenes and it's looking at the recent sold data nearby to this property and it's coming up with what we call a freedom soft estimated value okay we're g to get um slightly more detailed than this and we're going to scroll down a little bit and we're going to come down until this section it's called comparable sales okay and I'm going to I like to put it right there just scroll down where I have the bedrooms bathrooms and square footage um up here in yearbuilt at the top of the screen and then right in here we have a map I'm gonna zoom in on a little bit what we're looking at I'll zoom in one more time the blue pin right here is the subject property all right and then each one of these Green House icons correlates to one of these properties down below and you can see that in this particular case there are a bunch of them okay now these properties these recent comps or recent solds are already sorted from nearest to furthest away so the closest comp is 0.14 miles away and it's this zero Wild Ridge Willow Brook right 192 square feet all the way down and to properties that are over a mile away we want the closest ones okay ideally we have comps within a half mile if and when possible ideally we have comps that are within 100 or50 square feet of the subject property if possible now team I'm just going to tell you if you've never looked up you know tried to determine arv on a property before or pulled comps sometimes you will have beautiful comps and there will be a bunch of them that are similar and other times you won't all right welcome to real estate you we we have to work with what we have to work with Okay what I'm going to tell you to do is um a fairly quick method to do this I'm just going to tell you to come over here and select the six closest comps okay so I'm going to start at the top of the list and just go one two three four five scroll down a little bit six now when I click on them you can see that it moves them up above the line right here so now we have six cops selected but then what we're going to do is we're going to throw the high and throw the low so I come in and I look at these uh six and clearly the high is this 2999 I'm going to kick that one out and then the low is this 112,000 35 miles away I'm gonna kick that one out okay and what we end up with now the subject property so we've got quite a bit of variation in property size the top one is 100,00 square feet I'm going to take one more quick glance at these uh Team the property here is only 1,025 square feet I just got done telling you ideally comps would be in within 100 or 150 square feet this one is way Outside the Lines right here so I'm gonna kick that one out all right the one for 759 800 it's within a couple hundred I'm going to leave it in there right it's not great um but I'm gonna leave it in there okay now what I I was paying attention I've got the freedom softt number over here saying it's worth 1197 okay I've got my quick little you know comp uh math that I did or I didn't do it but I made some selection here all right and so based on that selection it's showing 1689 so what am I what am I going to do I have a freedom soft number and I have a my estimate number I'm just going to average them I've got two numbers let's just take the average right we're going to call that the arv and then we're going to take 60% of it so grab your calculator all right and so I'm going to put in uh 119 786 11 19786 plus 168 900 and then we're taking the average so you add two together you divide by two right we're going back to middle school math so 144 $144,300 all right that's what we're going to call the arv now remember the math that I just showed you when I taught on this was arv times 60% so I'm going to take $144,300 times6 and I get and I'm just going to jot this down quick but it is on my calculator 86605 $658 I'm going to call it 86600 all right I don't need to put the $580 in the offer okay so team watch what we're going to going to do we have our first offer price ready to go $86,700 all right I'm gonna come right over here get rid of this uh snapshot and scroll down it's probably at the bottom of this screen for you it's most likely at the bottom and there's a section called we bu letter Plus offer all right and inside of this section we have a couple fields we have a closing date and we have an offer price what I'm going to do is come in here for the offer price and I'm going to put in 86,000 put in the comma put in the period $600 do team do not put this in here all right that's too confusing is this $6,600 is this $866 nobody knows leave no confusion 86600 that is nice and clear so I want you to put the number in like that okay and then when I once I have the number in here go back up to the very top of this record and right over here below the address there's a light gray square and it's a little icon and when I put the mouse over it you can see that these different color options appear I'm going to turn it green so I click on Green it highlights it green and I come over here and I click save so two things took place there number one I put in the offer price I entered it in the offer price field and number two I turned this record green okay then right up here there's a little arrow to the right next one all right let's do a couple next one is 1125 metal Arc drive so again I open up the property snapshot and I scroll down and I'm looking for the comparable sales section and we can see that this property is 1398 square feet built in 1960 all right I'm GNA grab my to my top oops freedomsoft says this one's worth $161,700 [Music] and six now I'm going through the numbers again 2999 so this one's close to the other one we just looked at that's the high so I'm going to throw it out the low is $140,000 I'm going to throw that one out and what we're left with is a price over here my estimate of $151,800 Freedom soft estimate is saying 161 my estimate is saying 151 we're going to average them here we go get the calculator out I'm going to put put in 161 714 plus 151 893 all right divided by two and that price is $16,839.23 94,000 okay so I close out of the property snapshot and I come right down here and I'm looking for my letter Plus offer section and I come right over here to offer price and I'm going to put in 94 comma z0000 dot Z $94,000 all right I'm going to come right back up here to the top and I am going to turn this one green and I'm going to save it now I'm going to do one more manual and then I'm going to show you the the uh automated method all right and then I'll hand this over to Joe on the land side so let's click next and I'm going to pop open the snapshot freedomsoft says 529 so clearly a different neighborhood totally different price point so I'm glad this one pulled up scroll down to the comps and I'm going to grab the top top six one two three four five let me get one more the high price is 105,000 that one's gone the low price is $ 24900 that one's gone the freedom soft estimate value is 52961 my estimate is 4924 calculator out and so 52961 plus 45 924 45 924 equals divided by two we're going to call the arv $49,444 times6 and the offer price is $ 29,6 65 I'm going to call it$ 29,600 all right so I close out of this come down here and find my offer price field and I'm going to type in 29,600 and I'm going to come up here to the very top and and I'm going to click save now team that's the manual method okay let me show you the automated method because remember when I gave you a sneak peek yesterday of the market analyzer we analyze St Louis and freedom soft analyzed it in about two and a half seconds okay so I'm going to go back to this list and I'm going to go back to view all all right and now you can see over here on the left hand side that the top three these are the three I just did I just turned them green okay what you're going to do and I'm just going to give you a quick sneak peek of the homework is you're going to be prepping not sending yet but prepping 30 offers and so we need an offer price for 30 houses we need 30 addresses 30 records in here that have an offer price and that have been turned green right so watch this these are listed 20 per page so I'm going to click this little icon right up here the two check boxes I'm gonna click on it and now I have all 20 on the first page selected and then I come right down here to page two and I'm going to grab the top 10 right because we're looking for 30 for the homework for today for the action steps so one two 3 4 five six seven8 nine and 10 I have 30 selected all right once you have them selected Big Orange more actions button and right down here a little more than halfway down we have an option to generate offers and I'm G to click on it right you already know where this is going and now it says which Market do you want to use and so I click the drop down and somehow I ended up with St Louis in this twice so no big deal and I picked St Louis because that's where these properties reside and I click generate offers right now I still have all of them selected you can still see that I still have 30 selected so the next thing that I do is I go to the big orange more actions button but same more actions button and I come right down here to color code and I turn them green and team just like that I told you the full power of automation is going to be on display today there's the manual method and then in less time that it takes to do one via the manual method I can simply select 30 tell freedomsoft to generate the offer and then keep them selected and turn them green and I'll just give you a sneak peek for all you automated folks that you either bought Market analyzer yesterday or you're picking it up today right your action steps for the day are complete on the proper on the house side all right so three the manual way and then it literally will take you a couple seconds and a couple clicks to do this the automated way okay Joe that's what I wanted to show on houses um let's have Henry flip it over to uh your screen you can walk them through manual and automated on land yeah feel free to like interrupt me and tell me Hey Joe uh keep it simple okay because I go pretty fast sometimes and I like to complicate things by using all this fancy Tech and sof which is why I love freedom soft so much simple Joe simple thank you all right so remember we got a list yesterday for Citrus County I just picked a county that has a lot of activity and I've got all these leads in here and let's just go with the first one this is a property the address is right here I can see the street view of it that looks like a vacant lot to me right um I can see the map of it I can see a satellite yep that looks vacant love it this is working so um I'm just going to copy that address now if you a lot of land doesn't have an address so if you scroll down you have the GPS coordinates all right so you just copy the GPS coordinates and you put them in Google and Google will take you to a map and you that's the same property right there okay it's the same property we're looking at here's the street view so that's the cool thing that not a lot of if you get your lists from propstream for example or other sources they don't give you the GPS coordinates um it's and it's really easy to find land when you have the GPS coordinates now if you needed an address to look the property up on Zillow I just click one of the houses that are next to it maybe or a nearby business and I have the address right there I can copy the address of a nearby property and paste that into Zillow but in this example because I'm in Florida this vacant lot actually has an address I'm going to copy that address and we're just going to go to Zillow and I'm going to paste that property in there and I have this spreadsheet this is the spreadsheet we were showing before kind of the the lowest um you average them so I'm going to show you kind of doing what what we do now so this is the property on Zillow I've got now I'm going to go in here and just reset all my filters and um let's look at for sales let's look at land only and I'm going to set another little filter here I want to look at pendings and accepting backups and I want I I want to make sure I'm only looking at lots that are similar in size to what I have and mine's 3 acres if I go here uh it's 03 Acres right so um Zillow I'm going to do 9500 7500 square feet which is about 0.2 Acres maximum half acre so I'm just kind of limiting the results that I see when I'm start getting zooming out days on Zillow any boom all right so now I've got one comp right there I'm gonna zoom out now I have four comps I'm GNA sort from low to high this is important I want to see the cheapest ones at the top I'm going to zoom out one more time now I've got 30 comps now these are active comps okay active comps that's a pretty good number for me I want to make sure my property is the cheapest so I've got one here that's 20,000 and another one that's 21,000 so I'm just going to average 21 20,000 21,000 is and then number three was 21,900 you see what I'm doing now all right so I have the average of all of them is 20967 I like to Discount mine so mine's cheaper than everybody El else's maybe 15% that means I'm going to list mine for 17822 you think if I list mine for 177,000 it's going to sell fast when the cheapest thing is 20 yes so maybe I need don't need to go that cheap maybe I just do 10% so I'm going to list it for maybe 18,900 and I subtract my wholesale fee you know what I want to make $7,500 on this one n maybe 5,000 it's like you can play with these what's what's your minimum wholesale fee you pay a realtor 10% to list it for you um maybe have a $500 bonus if uh the real if the realtor brings you a buyer in 30 days you could borrow private money if you wanted you have an oops Factor just unknowns back taxes if there are any closing costs are going to be about, 1500 bucks all right so you take my list price you subtract all of my costs and that gives me an offer amount of about 843 and you want to make sure that that is not more than 50% of the list price and I'm at 45% so we're good right and then remember the easy way is all right well what's the list price what are you going to list it for take that times 40% and that's your offer of 7500 bucks so I'm close within a th000 bucks you know because Florida is such a competitive market you might want to do 50% um of what you can list it for or maybe I list it for 1900 so you can just you know you can kind of play with the numbers a little bit but I'm gonna I'm GNA offer let's say I'm going to list it for $199,000 and I want to multiply that to 40% I'm GNA offer $7,600 on this proder okay all I do is now is I go here I'm in my freedom soft in this proper recap average average of the lowest three comps yes take take away 10% of that so so 90% of the average and then times 40% of that number yes so average the three comps times 90% times 40% is what is what Joe just went through yep so I'm gonna offer 7600 now in that record here I'm just going to scroll down and I have here offer to seller outstanding taxes and offer to seller now the way if you have the coaches my signature edition of freedomsoft when I do my my normal main contract I have these three fields in there but when when we're sending just the initial offer I have a template and I'll share that with you tomorrow I'll show it to you that the only feel I need to fill out is this one right here net offer to seller and um again my number was 7600 right yep so seven comma oops 600 and I usually make my offers expire in a couple weeks we've got Christmas coming up so my offer expires January 3D okay and uh that's it and then turn that one green right so turn that one green and you've got you've got one of them done right here I'm gonna go to I'm make it green so Joe show us that manual method again and then can you can you go just a little bit slower on your Zillow filters that you put in yeah you've done them a thousand times and so you went through that pretty quick yeah let's do another deal let's go let's look at um let's look at this one right here this is the address so I'm just going to copy that address and I'm going to go to Zillow just paste that address in there and I'm going to x out of here the property is in the center of that map right now I'm going to remove boundary I'm just going to real quick reset all my filters in Zillow so now I'm looking at for sale I only want to see land yep so that's in the what home type right home type yeah home type land and again my property was. 28 Acres so back to Zillow I'm going to go more and I want lot size minimum 7500 maximum Halfacre so I'm just limiting I only want to see properties similar size and click apply I only have one comp in here and that's this one up there I need more right so I'm going to zoom out my property is Right still in the center of that map all right I'm going to zoom out again now I've got 31 comps but they're all over the place I want to sort it from low to high yeah perfect so now I see the cheap one's at the top all right so I'm just going to take the average of these lowest three here so the first one is 19,900 19,900 you can do this on a calculator you don't have to have this spreadsheet the next one is 21,900 and the next one is 23,000 so the average of those three is 21 ,600 multiply that by 10% all right so I'm going to list it for 19,500 so you would multiply by 90% actually right yes not 10% that number would take you down to right yeah exactly yep yep so I take 21,600 times 0.9 yep to get 19440 so I I'm just going to list it for1 19,500 multiply that by 40% I'm going to offer $7,800 so then I just go down here I put that right here 7800 I'm going to make the offer expire January 3rd that's it and what we'll show you tomorrow is you go right here to more actions and you can click send direct mail and it will create it'll fill out a contract and you can just mail it to them it's as simple as that all right but turn that one green so it so it matches because they whether you're on the house path or the land path you're prepping 30 off first yes today so when I go to all my records you can see the two green ones there right and I can also filter out all all my green ones by using the advanced filters button if I wanted to do that um so that's kind of why we color code them and if it's too hard to see you can make them red you know it doesn't matter um now should I show them the market analyzer yeah yes and do you want it so uh by default Joe go back into the settings and make sure you want uh I Believe by default it's at 40% is that that's where you want to keep it I think yeah so in the market analyzer I did this yesterday for Citrus County and it analyzed it pulled all the recent solds and it gave me an average price per acre by ZIP code and if I go to offer generator here uh the zip code of that one property real quick let me go back um well I have two different ones 34433 and 34434 and the cool thing about this I don't want to dive too deep into the details but you can override the numbers that freedom soft gives you that's the power of this flexibility so if you look at this and say well I think this is a little too high or it's a little too low you can manually override it and so I did that in one of these zip codes right here and I didn't do it in another one okay so um I don't want to show you I don't want to dive too deep into the weeds but you can over I just want you to understand you can override the values that freedom soft gives you you and that's where we're at now if I click on this little gear icon the settings you can see all right you can offer 40% 50% you can change these numbers so it's going to default to 40% yeah 40 10 and 10 I think are the defaults yes yep and we'll show you tomorrow or the day after I have this other template that allows you to send a postcard that says instead of just giving them one number it'll give them two numbers it'll give you a low range and a high range you can say hey if you want to sell your property I can maybe pay you between 20,000 and $30,000 or whatever so you can adjust those settings yeah and Joe that's that was that's your idea so let's just give credit where it should go we're building the market analyzer yes and you know we talk to you all the time right uh Henry myself Rob and uh you said you know guys you know what would be killer we generated an offer price but what if we could put in a percentage to go low and high because you said I've got a couple templates that I love using yes that uh where you like to put the offer price range all right yeah so let me just show you in my course uh you can see an example of this this is what it looks like hey I can here's a cash you I was just gonna say you mentioned something to Henry and I before just before we went live today about you just sent out you just out 700 mail pieces and you have I what what were the numbers that you told us this is legit um I didn't send this postcard but this is a postcard you can send this is a postcard I created in freedomsoft that you could send out so instead of one number you can give them the seller arrange like this very easy to do and we'll show you how to do that tomorrow um but I sent in my other my main Freedom soft account we sent out about I have to look at my numbers seven or 800 blind offers like what I'm going to show you here in a minute and um we got and I was pretty aggressive with my numbers instead of doing 40% because this County was so expensive or competitive I bumped it up to 60% okay um but I got four signed contracts back this was just in the last week or two I got four of them signed back now some of them you know I'm going to need to negotiate a little bit with the seller but the point of this is It's I don't care if it wasn't perfect I don't care if it was too high I don't care if it was too low I'm just getting my foot in the door I'm getting them to call me and then we talk to them and I you know maybe negotiate the the deal a little bit right that's what the inspection period's for that right that's that's what the timeline of the closing is for we're gonna go over that in more detail tomorrow yeah but to Joe's Point team this week is not about analysis paralysis this week is about get offers out the door and some of you you have this major hangup in your head where you're going well holy crap what if I offer the wrong price yep that's what inspection periods are for four right that's what inspection periods are for yeah and and our my contract guys you got 90 days you have a thre Monon inspection contingency where you can there's plenty of time plenty of time and even if it was only 30 days you still you got 30 days you can cancel the contract for any reason go back to the seller renegotiate um and many times my conversation with the seller is listen I know I sent you this offer I did some due diligence I looked into it I had somebody go look at it and you know what I'm sorry number's not going to work I didn't realize that this and this and this and you list the problems and say is this the best price you can do that's it right right okay so real quick there's a way you can create what's called Dynamic offers using that market analyzer and so all you do is you select the records you want to do you go to more actions you click right here generate offers and based on that zip code that the property is in just like that it generates three different numbers and I did it here just a couple minutes ago on page one here it generates three different numbers the dynamic offer right here looks like I just lost you can can you still see me Mike I can yeah all right my laptop shut off anyway hear you okay um you can generate it generates the dynamic offer and then here's that range offer low and high and so from here all I would need to do is highlight 20 of them or whatever more actions send direct mail and just like that I can generate 25 450 offers and send them out the door um yeah it's it's crazy awesome uh do do do I need to jump into more than that or are we it is crazy awesome yeah that's it that's good um so Henry if you can switch back over to my screen we'll uh we'll look to bring home day two and just kind of wrap this thing up so team you can see this in my account as well um I generated the dynamic offers and these properties right they're in the top 10 zip codes but we have multiple different price points in the top 10 zip codes and that'll be similar to land as well you can see some of these offer prices I mean we have 1487 and the property right below it is $7,600 right so what is happening here is that dynamically Freedom soft is saying okay you want to make a property you want to make an offer on this property 1125 metal lar drive and it's going in and looking up the specific property configuration meaning the number of bedrooms and bathrooms inside of that zip code and saying here's what investors are paying then it takes into consideration the wholesale fee that I set up remember for houses in the settings there's um a a wholesale fee and you know what did I uh now that I'm talking this through did I not set that up um I don't know if I did yesterday oh I did I did and I think I talked this through okay so on the on the house analyzer for houses you come over here and I went over this quick yesterday but all the data and then you come over here to the settings and so for St Louis I put in $10,000 wholesale fee and $25,000 average estimated repairs now on the house deal analyzer you don't have an estimated repairs you don't have the wholesale fee you just operate off the percentage Joe for the land sorry Joe showed it a couple minutes ago in his account for houses you're going to click settings and put in what you want your wholesale fee to be and what your average construction is now I'm using an average construction number in St Louis right remember these are average uh probably $150,000 average houses some go a little bit higher but some definitely go lower and so I'm calling it an average of uh 25,000 in rehab and so what happens is now in an automated fashion is freedom soft says okay here's this house in this ZIP code it's a three bed one bath we know what the investor price per square foot is and then let's also take into consideration your desired wholesale fee in your fix up estimate and it automatically calculates that all right on the land side as you just saw in Joe's account it goes into the ZIP code analyzes the recent land sales comes up with a price per acre and then you tell it what percentage you want the offer to go out at and it automatically calculates it for you and team I'll just tell you one of the biggest advantages to this not you know aside from how accurate it is because it's it's going into Data to do this to calculate all this but it helps you not to get stuck in analysis paralysis when you can just go grab 30 records and so team Joe and I just selected 30 records and generated an offer we could have just as easily selected the whole list and went to the Big Orange button generate offers right picked the market and it'll just generate offers on the whole list it literally takes three seconds of your time if you wanted to do the entire list all right yeah and again some of you are like um well what if the offer is too low what if it's too high it's okay it really is okay and you're gon to make bad offers but that's you're G to win some you're gonna lose some it's not a big deal but the fact of the matter is you're going to get a phone call from a seller that says yeah you know what I want to sell it this might be a mistake I can't sell it for 20,000 but I could sell it for 25,000 right so like you then it's negotiable right I I've had some of these offers maybe I should have I should have had some ready to go I can show you tomorrow some of them came back if you if if you see my blind offer there's a section where it says um if this offer isn't acceptable write down a number that would be acceptable and I'm getting sellers that are filling out that number and sending it back to me but now I'm getting them in the ballpark and I know the only people that are calling me are the ones that are already have kind of semi-realistic expectations of what the numbers are going going to be right if they're calling me if they're getting my lowball offer and they're calling me well you know maybe they're motivated maybe they're they're they're ready to negotiate so and if my offer is a little high that's fine I can during the due diligence period I can you know I I this is what I tell s listen I'm G to have somebody go look at it at the property and that's who I use local realtors for and uh we're going to take a look at it and if the number's good great we we'll we'll proceed with closing uh we'll send it to our title company but if we need if we find something that's wrong with the property is it okay if we talk and have another discussion about the numbers and 10 times out of 10 the seller says yeah that's fine that's all you have to do right you got to understand the power of this the automation the convenience of instead of having to look at each individual property one at a time and go to Zillow and reset all your filters and zoom in zoom out make sure your property is in the center of the map and and then and then you know make sure you're looking at the low to high and then you're you're you're copying and pasting all of these figures into a spreadsheet you know which I mean it's yeah that's a lot of work really you could instead just click a button have it analyze all of these deals and then come up with an offer that's going to get you 85% of the way there and then just send them out um every day I mean and the cool thing about freedomsoft is once you start sending these offers you don't have to pay more premium pricing for oneoff things you could send just one a day five a day 20 a day 100 a day and you you know un unlike other Direct Mail companies they charge you more for sending just smaller amounts it doesn't matter how small of amount so you could do One A Day one at a time uh 20 a day whatever and you pay the same price per mail the same cheap of price so I just wanted to I there's I wish I could show you more but we're saving up for tomorrow because we're going to show you how to create the contracts how to just click send them out you could even click another button skip trace the owner call them you can email it to them you can text it to them you can send it in the direct mail you can set up all the automated follow-up this is exciting especially uh for land because you know it's it's so much easier now to send blind offers all right so um people are wondering probably how to get this and I think in the next slide yep I've got links for them and so we're going to talk about how to get access to it and specifically what the homework is we've already talked about it but we're going to come right back in here and let me dive back into the slide so I showed these early on I'm going to show them again if you if you're still here on day two and you need access to Freedom soft and this technology we're showing you joac call.com sl100 viip get access to to Freedom soft team it's been built by investors for investors to make your life easier and clearly you're seeing that on display all right then the market analyzer so the Automation and those uh the offer generator tool that you just saw so here here's let's just put some actual time to this if you're on the manual path you have 45 minutes of homework tonight right if you're on the auto automated path you have 60 seconds of homework tonight maybe 30 right that's the power in Automation and I know you understand that but now it's like hitting you square in the face these are the two these are the two paths in front of me right I can go manual or I can just get access to the tools and go automated and like I just mentioned I just generated 30 offers on houses I could have generated all 1, 422 and it would have taken me the exact same amount of time select all the records click generate offer and let freedomsoft do the rest so go to joac call.com one100 fast get the market analyzer which comes with the offer generator and team use the same email address that you log into Freedom soft with and when you add this in it will automatically bolt it onto the right account you'll have a excuse me you'll have immediate access to it okay so I said this but I'm GNA mention it again we love automation for a lot of reasons but one of the big ones is there's no analysis paralysis because you're not analyzing anything the data is and freedom soft is you just tell it what to do and get out of the way which is a beautiful place for you to sit all right here's your homework number one go get Market analyzer Joe mall.com 100 fast add it to your freedom soft account number two once it's in there analyze your Market either for houses or for land and we've walked you step by step through how to do this okay number three offer price filled out for the first 30 records on your list and turn them green we're getting we're turning them Green in preparation for tomorrow so yes when you have 30 records that have an offered price in place and are turned green your homework is done go post it in the Facebook group and then cheer on a couple other people that are doing this all right we're in this together we have Community you're not going through this alone all right yeah Joe anything final we've got uh don't miss day three team right you can see how we set up some Foundation yesterday on day one now we're continuing to build on that here on day two day three is a gamechanging day in the hundred offer challenge I promise you don't miss it knock out your homework be right back here same time tomorrow be fired up and ready to go and uh we'll keep this train moving down the tracks let's go awesome guys get your homework done post your progress in the Facebook group we'll see you guys in there um thank you Mike beautiful yep same thing Joe we'll talk soon take care everybody and uh we'll see you right back here tomorrow e for