How to Talk to Local Agents for Property Values | Real Estate Notes Show

Episode: Values and Property Conditions - Talking to local agents Dave's Goals and Plans: - Sold a property on seller finance in August with first payment in September, delayed paperwork due to underwriting and borrower's burned documents from house fire - Recently received signed note and deed of trust back from county recording, completed without needing to follow up - Uses calendar reminders to check in on recordings every 2-4 weeks rather than prioritizing immediate follow-up - Managing borrower forbearance on multiple deals where borrowers requested payment delays due to recent financial stress - Maintains directory of over 9,000 agents across the country with contact info accessible through JKP Holdings portal Nathan's Goals and Plans: - Expanding business and putting together a fund using 506c structure which allows advertising - Working on cases involving bankruptcy situations and borrower payment push-offs - Spending significant time on property valuations and establishing hard-coded values once sellers agree on price Key Recommendations: - Don't take tape valuations literally - use as benchmark only, verify methodology before trusting the number - Use original loan balance as alternative valuation clue, especially for contracts for deed - Prefer Redfin for researching sold comps in the area when establishing property values - Set calendar reminders for recording follow-ups every 2-4 weeks rather than daily priority tracking - Understand statute of limitations is state-specific and often based on last payment date, acceleration date, or legal filing - not a dead loan, just limits collectible interest Topics Discussed: - Seller-financed note documentation timelines and recording processes - State-specific statute of limitations rules for debt collection - Borrower forbearance and payment delay management strategies - Property valuation methods using local agents and comparable sales - Resources available: agent directory, fee schedules for servicers, statute of limitations spreadsheet project um all agents are different that's the battle we have is dealing with an agent understands that well this house is enlisted how am I supposed to price something that doesn't isn't listed for sale I can't see inside yeah how do you how do you deal with that I mean I you know what I like you say not all agents are created equal so I don't spend a lot of time with ones that are giving me grief right off the bat where they're like well what am I supposed to do with this and I don't know about this and that and I don't even know about this neighborhood D okay well thanks so much for your time I think I'm gonna call somebody else and and you know I I've said it like you know I I don't think this one's going to work out for for us yeah go somewhere else but I find a lot of the times um it's the young hungry guys that are the ones that are gonna you know be the Commandos out there and peeking windows and they're not afraid to get out of their car when they go and look at the house yeah and you know we've had it where I'm sure you too where the per the agent called me up one time and he's like the house is pretty good but I'm GNA tell you about the kitchen okay this is you know well I'm seeing under the cabinets and you're like whoa what do you mean you seeing under the cabinets like is there like a hole ins side the house oh no I'm inside you're like no so oh it's like well we had to get inside to see the D like no don't you can peek in the windows if you want to no trespassing yeah so I that battles with us is that you know we want to get the value of the property we love to know interior sure um am I gonna hate agent for doing that I'm gonna c ya myself but I'm gonna love to know the local information inside um yeah they'll call and be like oh so I I hope you don't mind I went and looked inside I'm one hey everybody Dave puts here from jkp Holdings next out to me Nathan Turner hello hello hello good Friday afternoon everybody hopefully everyone's having a good day and uh chiming in and whatnot so we'll we'll start off with seeing how these are going for the week I know there's another Tri uh Workshop going on right now that uh we'll be talking later on um and some good good resources out there Nathan I know we're talking offline some things have happened with you in the recent couple days what's happening with your business what's going on we are it was good year uh we're we're just kind of we're expanding and we're we're getting a little bit bigger putting together fund um I I can talk about a little bit more because we are going to go with the uh the 506c uh which allows us to advertise so that's great cool yeah has anything recent this week happened I know that you're getting some you know you know you're get some things returned to you and Stu like that we're making fun of the fact that sometimes we're we rep we record things that take a little longer than expected um so I know that it's weird to record things and then we don't count on it be returned in three days right it takes sometimes months I had a funny one yesterday we were talking about that where I had uh I had sold the property on seller finance back in August uh first payment in September they've been paying great uh we had to kind of delayed paperwork in my mind we had delayed putting out paperwork because um we hadn't finished with the underwriting uh there were some extra documents that they had to produce and stuff and they they the previous house had had a fire so all their all their important documents had burned up and so they was getting stuff from the government it was just taking forever um we eventually got that in fact just last week or two weeks ago so I sent them out the note and mortgage and everything at D to trust it's out in Texas and so we got it all all sent out to them and and they're like oh yeah yeah we'll get that sign next week and get that out for you I actually had it on my calendar to check it with them today to make sure they're on it and then just yesterday I got in the mail I had sent them the paperwork back in August the note and the deed of trust and so that has been signed and I got it from the uh from the county where it has already been recorded So my job's already done for me I I well I already did my own job got it taken care of it's it's crazy I mean glad to see it you know being done I know we've had recordings take months and months and months and it's one of the things that you know you have to follow up on it but it's not on the priority list of things to follow up on it's like listen long as it gets recorded I don't care when it gets recorded So I I put it on my calendar to check in um you know two three weeks four weeks whatever whatever the case may be and just kind of just kind of check in I just did on one today I have the I have the electronic copy but I don't have the physical copy and saying yes yes it's coming okay let's just be sure yep yep that too um for us we're we're just dealing with some BK stuff still on a couple cases uh we did have some issues with um some borrowers asking for some you know push offs and with that and some deals we are right we have a couple deals we are actually allowing some kind of delay and some stuff um the fact that they've been paying in the past this is a freak situation and what about and yeah we don't know what's going to happen in the future we know that money came out recently um and we hope that things kind of turn over some states are turning over fashion others yeah yeah um I wanted to before we jump into here I want to make sure that people know that are tuning in uh we actually have um I know I've seen some posts about statute limitations we started at kind of a spreadsheet um and I don't have the time and my team doesn't have the time but it's a great project for those who want to learn of a statue limitations spreadsheet to kind of chart to kind of go off of and kind of learn about about St limitations because not it's not particularly on you know last payment receive it's not hard phone that and some states it depends on what it is sometimes maturity sometimes it's when it originated so a nice project for those who are interested in getting into take a look at it let me know or let my trade Des know that you're looking to get into that project and kind of help us fill that the whole sheet out be great for everybody and like I say it really does depend on the state I've had it where actually limitations had passed but that only meant that I couldn't collect anything past whatever it was four years yeah so it's it's not like it's a it's not it's not a dead deal it's not a dead loan uh it just means that I lost out on a portion of the interest where they had stopped paying some states allow you to do that right some states don't and that's the problem with it all is that some states um allow you to back dat stuff and uh some states I'm just trying to bring up the sheet now for those who are interested in doing it uh can actually get into it so stat limitations it depends on what the state has and what the the rules are on it so some states have the rules where it's based on when the collateral was last a payment received maybe it was when legal was filed and things like that it could even be a a an actual communication with the borrower it could be something as simple as that so it really depends on where it is and and situation for that St have you been what if give me you you give an example of statue limitations you've run into yeah one that we had I'm pretty sure it was Texas I remember four years so um there it and the they hadn't paid for something like six years W and I I I'm not positive on the state so if I'm wrong on the state don't shoot me but but it just meant that I couldn't collect two of the six years uh I could collect up to you know what the statute of limitations was um and and in my case that was fine it was way underwater there was no equity anyway so those extra two years really didn't make a difference uh to our overall strategy on that so that worked out just fine so as you can see here um did I work about hopefully you can see it you see the chart yeah okay so this is simple like you know California has different rules uh Colorado depends on maturity date acceleration date and whatnot right there's some states like Florida who allow you to um Advance the due date so if you're beyond the time you can't you can advance it to make it so the no longer such and you're forgiving their rears right um so it's pretty cool idea to take a look at and if you can get into it be awesome so if you're interested in kind of helping with that project let reach out let me know um we also wanted to uh share with you guys let me bring that share back up I apologize um uh if you're ever interested in getting agents uh we have over 9,000 in our directory um you have to go through our our our portal our at jkb Holdings and you can pull in agents across the country so there's like 9,000 um I was showing Nathan yesterday that we have their their names or email address phone numbers and to mass email through it so feel free to take a look at that if you're looking for an agent who's local which is going to tune into this topic we're talking about today the other one I saw post about question was regarding fee schedules service or fee schedules so inside of our our website under resources we actually have a fee schedule uh for you to look at it's you don't have to do anything with it um it this whole chart in our website you can look at but for servicers you can go into this Google sheet and actually see basically by service or who it is like Alli HP and we try collecting all their fee schedules but also the States they're licensed to collect Deb in based on nmls so even though they may say they collect it we only Mark the states that they're legally able to collect in so if you haven't seen us take a look at it let us know um but you just click on any one of these things and you go right to the the link for them that is tabs them below so all that of course is subject to change if they've updated their policy blah blah blah but yeah yeah absolutely so and a lot of times we email them sometimes we able to get from their website but at least you guys can go to it and like you know see Madison site and all stuff and this is the the fee schedule they have uh Kevin if you're listening sorry about this but uh we have it all listened up right so this helps you figure out am I am I in the state that's being covered okay so just take note of that so um but if you ever any additional resources and things like that just feel free to jump in here so let's jump into our topic today so what we're discussing today is it's hard to um Rob I don't know if you see that the post on Facebook me but uh Rob ha said it they burned in Florida for five years past maturity on a secur lean the court SED with the borrow wiped them out ouch sorry Rob when you're talking California uh Florida but yeah Florida yeah but uh Rob I mean that's crazy to hear that man I I shouldn't apologize but that's crazy yeah yeah um I know that we've pushed maturity day on a bunch of stuff yeah maybe there's more details to rub I don't know but man we were able to advance it if you um for example I've got another one right now where it's actually past maturity date it's it's a little bit wonky because we're maturity date shows uh as actually next year but the original maturity date has already passed uh and we're actually in the process of trying to find the mod to prove that it's actually maturity date and we've actually been able to locate it U actually Aaron our buddy Aon Quinn she's on the case and she's making it happen so she eron if you're listening I hope you feel better girly I know you're dealing with some Co fun so but no fun no fun that's awesome so interesting enough I think this topic is interesting for a lot of people is you know using agents and how to find local values now you and I spent over an hour on the phone yesterday talking about valuations and and things like that that's a internal ability to do but when we're trying to find that once the seller says yes I agree with the price and we want to hard code or counters it we want to hardcode what our value is yeah you know we have a little different process but the end way we do it the second part of it is very similar so share with everyone how what's your first step when you get a Val you want to get a value so before I even set a bid um let's back up even step more so you get a tape sometimes the tape will have a value on there um and that's great that's a nice Benchmark that's a nice starting point but by no means is that to be taken literally that's that's a nice suggested valuation um and not that I don't trust uh but I don't know how they came up with their valuation like if they're just pulling Zillow estimates then we're not even talking the same language uh so so forget about it so it's a nice bench Point uh another kind of a a clue to the value of the property a potential clue or clue to a potential value is what the original balance was um especially if you're talking about like a contract for deed uh oftentimes it's right close to what the value is so that just again as a benchmark just to give you a starting point if they maybe they didn't put values on there but they've got the original balance on there so give you an idea so that being said then um I will go through and look at I for red fin and I look at sold comps in the area uh and I and and meaning not just properties that's sold but I'm looking for same square footage and number of bedrooms that kind of thing so a true comp of stuff that's sold in the area so and then if it's not on red fin I'll go and look at Zillow uh they they pull from different sources I I'm I don't understand the background behind that but they have different numbers which I find kind of odd and interesting at the same time and then like we were talking about yesterday what I look at is okay so my this loan hasn't paid for two years um so it's not going to be at the top of the market it's not going to be the the arv value that you know something else sold down the street uh for $50,000 more it's not a real good comparison proper property because they're there they're taking care of it they're paying their mortgage um versus mine where they haven't paid it very well could be vacant and you know vandalized and this and that so I'm not looking at the top of the market I'm not necessarily looking at the very bottom of the market either uh so it's really kind of a little bit more of an art than a science where I'm just looking at it and and giving my very best guess at what I think the value is and this is just this is the free due diligence that I've done all it cost me is my time and I'll look at and put a number to it whatever I think it might be worth very true I mean Tim and I do the same thing for years um and just kind of and and to come up with the what you go through the analytics you go through in your head is impossible yeah if there a church nearby School nearby railroad tracks railroad industrial area highway there's so many pillars that you can't make a list of that and analyze it with a computer it's just not possible no no um you know and maybe it's a development off a main road where this the house in the corner is old and it's not as attractive as the one you're looking at yeah that the values are completely different yeah so we do a similar situation we do pull a bunch of avms to kind of analyze it to do quick and dirty if we have the time we'll do it and dive in like you are but once we get to that number we want to make a bid and stuff like that and they the the seller counters you know I don't go full for in order bpos I know that's something you do so discuss what you're expecting from the bpy I I do if I think I'm right okay like for example we looked at one yesterday where uh sellers valuation was 71,000 I had it up around 95 to 100 so I figured I think I'm right on this one uh so in that case I did go and getting a b okay and it turned out well and that that that worked and I I was actually right that's awesome so but once you take that information right if you want to get more information about that local information from that BPO I think our next step is very similar where you use the BP to get the agent right yeah yeah I use my directory and my resources and even my local investors who I reach out to to reach out to them directly yeah right yeah so when you get a hold of that b and you want to ask questions you're calling that agent to find out hey tell me more I do because I and I figure I'll talk to that agent um I could call somebody else I could you know I can do all that kind of thing and sometimes I have depending on the situation but I'll call that BPO agent just because they were just there they were just looking at it you know within the last couple of days so I'll call them up and say okay so hey I just and and I make it clear up front I'm not here to try to change your mind I'm not try to I'm not trying to argue what you sent in uh if it's drastically different than what I said or even if it's not I I'm not trying to be right I just I'm trying to understand and so can you just tell me a little bit about the neighborhood are things selling in the neighborhood um I saw you used a comp from a mile away I'm just curious why you use that one instead of something those closer H and you know I'm just I'm just trying to get more of the story of the stuff that's not on the report yeah are things selling quickly you know and again that's on the report but only kind of right and if I can talk to them and just kind of get a feel of what the the story is for the neighborhood yeah you know we ask similar questions I ask typically ask them Hey listen is this a renters area or ownership area yeah like what if I have to take this back am I renting this house or what am I doing with it um what are rent numbers going for the area yeah um I asked them for their personal knowledge of the area you know I've had Asians talk to me about hey you wouldn't believe it 1962 there was a barrier here and you're talking to a guy and you're like whoa yeah if you're on this side of the bar barrier or that side of the barrier is completely different that Google Maps Zillow can't ever detect right yeah it's you know it's actually not too far from this place or that place that's really good or that's really bad or whatever or they'll go building of Walmart schools yeah School building of Walmart yeah so it's it's very profitable just to spend five T minutes talking to an agent yeah just to get you know the rest of the story that's not on the report so has there been I know we've had have you had any situation where agents were surprised you're like whoa that was not what I expected oh for sure I had uh yeah on it somewhat regular basis where where I thought it was this the seller even thought it was that uh and then the agent goes and looks and sends back the report uh you know I gosh I've had that uh several times where I thought it was worth whatever it is you know 60 $70,000 and they come back and they tell me 30 or 40 I'm like oh wow what happened there and yeah just because I'm like really because yeah I'm you know I'm just I'm not seeing that from what I can see and again I'm not trying to prove a point I'm just I'm trying to understand and then she tells me uh oh yeah the doors kicked in and I was able to peek my head in there and it's just like full of everything and nothing and it's just awful so I'm like oh okay thanks for the info I've had this the same situation but I've also had where it's like uh that house is on the list for being destroyed you're like oh oh oh wait wait what and all that goes out the window because it's is crazy yeah we've also done it the famous thing of calling the electric company right and finding out you know if Electric's on now you can't ask that question but there's ways around it such as Hey listen I'm buying the house from the owner we want to see what the average rent you know average electric bill a month is and they'll say well it's near $300 okay great you know and when you know is the power still on and just making sure the homeowner and typically they'll say no the power has been off for three months now yeah oh okay thank you and you get that knowledge so getting on the phone with some of these agents is key in some situations yeah like oh okay yeah I'm not agreeing with it but I love the fact you did it you know yeah and US agent's like I know I can't I just it makes sense to do it and there was no one there you're like okay and we've gotten to situation where there's a lock box on the front door and we don't know the code um and I'm what not sharing the information publicly there are very easy ways to get past lockbox um especially prop preservation Services um yeah I'm not sharing that guys there's there's a very easy way to get through that but it is right um one of my earlier deals we had a there was a three-letter combo code and I'm like B BL and you're like how'd you do that it's just what it is so you know interior conditions is difficult there are agents out there that really are solid and we love to turn back to them and go back to that agent and buy more of that area because the agent so good yeah yeah it's worth it when you and exactly that when you find a good Agent I will literally go back to that City because of that agent yeah and you know when I see it come up on a tape I'll be like oh okay oh right there that's so and so yeah for sure let's do this look at it more carefully yeah yeah listen yeah you can you have a team built there yeah and I have those I have those we have those hotpots where we'll buy something a little bit less than what we can really our goal Target is for the fact that we can I can get in and out quickly I'm solid on my values I know I can get a sale I know I can rent it if I need to um you know anything like that I've had times where I've called an agent and it wasn't I wasn't careful it just wasn't what I expected where I taught his agent it was an Aro agent and they says oh my God I can't believe um Bobby Smith's in foreclosure and I'm like oh you know I'm like oh yeah that's my daughter's best friend's parents and I'm like oh and then I had to go on my Spiel like listen I you can't let them know I'm calling you like I'm just looking for condition we end up buying it um and we to ref it was a good reinstatement opportunity so yeah West Virginia so so on the other hand so of the many issues with Chicago and Cook County one of those is I've I've had not a ton but you know half a dozen properties over the years there I have never had a good agent in Chicago and it it's been a constant struggle where I'll go through like two or three on one property uh and I like I have done that in the past so if anyone's got a good Chicago agent yeah let me know because I I've got one right now that I'm gonna have to be dealing with sometime soon here let me see if I can um tag our friend on on this uh see if I can get one for you I would have to look through our list as well um Chicago's a hit or miss um for many reasons it's just yeah a very complex City Baltimore I've had more success in uh even Atlanta um but Chicago is just one city I stay away from for multiple reasons all kinds of yeah yeah uh let me see if I can tag every once in a while the numbers make sense and I'm like yeah no I could do this yeah yeah yeah let's oh gosh yeah it's weird because when we first got started you and I I think we probably bought in the same city of Columbus Ohio and did a lot of deals in there um and we have some good good people that I still count on to today uh for something like that I just wish that Ohio was a little bit uh more friendly in general yeah they make it a little difficult sometimes yeah you know there's new laws new stuff like that um and the the time frame of Ohio is yeah just not fun yeah but again that being said again I've got a great agent that I've used for years we we met him forever ago 10 years ago and I still call Roger out in Columbus Roger L because he's great yeah yeah Roger L done yeah yeah so I'll look at Columbus specifically uh partially because I know the city quite well as well but also because I know I got Roger there and he'll make sure the job gets to yeah you know and guys if you're going to get fine agents we're not looking for the agent just to give you a value right we want to know the aftermath if I have take this property back yeah do you have contractors do you have lockas trash outs because I'm going to call you and then I'm gonna call you a week later hopefully have everything done ready to go and I get a bill sent to me I don't want to nickel and dime you're to be a local person some agents are willing to take the ELC on their name it depends on the agent yeah so are you're not only you know how when you get a hold of an agent for the new time how do you sell them on the fact that you know they're giving you information for free you know you pay for the BPO they may made $30 on it right you know is there a way you can convince them to give you information without paying for sometimes I'm sure we both paid for it but yeah I you know I'm I'm pretty upfront I don't try to hide anything I so I'll tell them you know there's a very good chance that I'm taking this property back uh and if that's the case I'll be selling it so I'm I'm hoping to be able to use you in the future um whenever I'm done the Foreclosure or whatever it happens to be if that happens it may not but I'm just telling you there's a good chance I'm taking this back so if you can help me out you know now I I I'll be calling you back in six or eight months or whatever it is yeah and we do the same thing right listen we're going to need an agent I have no agents in your local area you're my go-to person if you're able to help me up here the back end is here yeah um it's hard to sell that because you may get a reinstatement and you may not use them yeah um some of the good who've done a lot of work for us we're gonna throw them you know gift car we'll throw them 50 bucks yeah say hey you know what amazing work man you know they got out there quick they got information too quick because that's the biggest thing was you're really and these to me are more important than bpos itself I saw the front doors kicked in because they don't write a lot of that stuff on the bpos very general yeah yeah so for me the agents tell me more than just the value of the property because no one knows value right what they actually tell me is what is around me the property what is the market conditions the time days a market what kind of house is selling what's going on locally for you know jobs and whatnot are people moving in are people moving out is it a rental area and what should I expect from this property um we've gotten times where agents have told us that we we know the borrowers oh they're Town problem um we've had we're like wow that's a really nice upand cominging area or Hey listen if that was three blocks away that's golden here here's the a b and C-section so now I kind of have a map and know the fact that yeah I'm in the C-section but I know that I that Center area is better for values and I can look out for that stuff yep yeah exactly yeah I had I've got one actually right now I'm actually closing on it next week uh in North Carolina and first time I'm working with this guy I will for sure go back and see if I can get anything else in the Kernersville area because this guy's fantastic often times I find that the good Agent are the ones that are also investors if if they are if they do their own property investing on the side whether it's rentals or flips or whatever if they do any other kind of real estate investing then they they usually are better in that well i' would say almost without exception they're usually better agents because because they can understand where I'm coming from they're not just the guy that's going to throw it up on MLS and be done understand there's more to it they know why I'm doing what I'm doing they they get all kind of the the background information and that's thing is you know agents can be broker agents or whatnot and it's limited you know and it's like thank you but don't thank you don't throw me an AVM and say well the average value is this yeah it doesn't tell me anything no no I need you to lay eyes on the house yeah I need you if you can you know tell me something about it does it look occupied um you know was there mail falling out of the mailbox is there you know the gutters are they full of of leaves and trash or are they clear you know like tell me yes what's really going on here yeah it you know the big one is like the mailbox is overflowing there's newspapers on the driveway oh okay and we talked yesterday one of the good ways to tell if a borrower is living in the home or not is where the property tax bills set yeah um that's one of the first signs like the property tax bill is sent somewhere now if it's not if it's sent somewhere else it could be a renter but may not be right um and kind of thing so this is our way to kind of hardcode our value that you know bpos do a little bit but really knowing the agent and understand the agent's point of view and you know the driveby the the right up on it um now we're not taking what they say for gold right the roof is terrible but that could be a perspective exactly yeah I've had that where they go through and they're like oh wow it's it's in pretty rough shape I'm like uhuh that's totally subjective rough shape could mean anything that could mean that it needs a paint job or it could mean that there's mold all over the walls so rough shape doesn't I I've got over that a long time ago where they call and they're like oh man I just went through this it's in pretty bad shape I'm like okay yeah and and I unfortunate people think that way that listen I get the fact and I respect the fact you may be willing to um have an opinion of what's going on but the problem is it just it doesn't work that way yeah because I don't know if what you think is real is real right right yeah exactly exactly so when you tell me rough shape meaning what meaning the needs to be replaced or meaning that there's broken this that and holes in the walls and obviously the Copper's gone and that kind of thing like that I need specifics don't just tell me rough shape because that that tell me anything I've had the rough shape in like well I'm in high heels and I'm not walking in a house that doesn't tell me anything right right you know it's just tough you know I we appreciate the fact that you know send me pictures yeah you know if you see something send me a picture what you think you see yeah and say this is what I see um my father was in the military and one of the things he always says the air TR controller is that you never told a pilot what the problem was yeah right you always says it appears that this is what's going on and it's say listen it appears vacant because of the tree growing outside the front porch in front of the door great thank you for the information I'll make the judge if someone living here or not I've seen people Liv in crap yes and it because it's weird doesn't make it unlivable but also had Versa just doesn't mean somebody's living there yeah you know so or even worse if the you know there's hoarders I mean not hoers there's people that are just squatting in the house yeah um and and whatnot so that kind of stuff goes crazy so when you get down to it when you're valuing the property we're using our eyeballs on the websites we're using our understanding what the agents say it is and we use the sell's value to a point I use another metric um that most people don't and I got this from Kimberly uh years ago is the a tax assessment market value not the assessment assessment value but the market value so what the what I found out that yeah so what I found out in the South it's it's on more in the South than the North that's true so there's a there's a tax assessment value and a tax assessment market value so the difference is that when the tax s goes out they value the property of whatever they value at the assessment value is usually a percentage of that it could be 100% it could be 50% and then they based taxes off the assessment value well the tax market value is what they feel the property value is and they typically value that a couple years sometimes it's annually sometimes every three years every 10 years but in the South there parts of Texas Alabama their numbers are pretty on which is crazy but they've been on so it's another pillar of figuring out the value of the property um our PTO system if you look up a property you actually get the assessment market value and you can use that as another pillar again when you're making an indicative offer like we talked yesterday we're not diving deep into this stuff yet no because not yet if I'm gonna bid on 100 assets I'm not GNA dive into a property value until I get either counter or accepted because you and I know how many hours you can burn to just look at five properties and value and really be comfortable on the value of that property so that's a good point so when you first started how long would you spend looking at property value and try to determine that oh my God like on one property it was it was I would say 10 12 minutes a property to go and and I would review Zillow I review like trillia I would review rightfit get their numbers then I would look at the the the property itself on the the good oldfashioned Zillow maps um and kind of get an idea but it was it was hard to do because then you get like while one's like well what kind of model house is it and you're like too much information at the end when I was going through and we're burning through assets back in the day with the granite stuff we were spending we would probably average probably 25 an hour or so so it's like two minutes in a dress oh that's pretty good get in get in get in get out and it was a quick eyeball when we go deeper it's a different story right but I would go on Zillow get an idea look at the map get an idea what I I see it as I would I would filter by square footages make sure I'm not looking at crazy numbers and this quick eyeball and I can use the URL to kind of filter it quickly because I can just the any URL does a filter within it so that's what we we do is we filter it down and then move his red fin was a big one for us um and there's a couple Ari Ari top my head I can't remember the name of it Ari or real estate re or something like that I forget the website it's in my favorites but that was another site we can get bpos from it was like $25 the pop so you know for us I go to my my first turn is to the agents and my investors right so I'd rather turn to one of the you know people listening and say listen I'm looking for a value in this property because typically you can value a property better than a local agent because you're more than likely an investor yourself or you know somebody they can help out so that local agent and a local investor is often the people that we depend on most to give us the most information and the most confidence in that value yeah yeah and and again all of these things is most of the time unless they get inside most of the time it's based on an exterior yes uh you know opinion so yeah the times when and we talked about this on a different show is the times when it doesn't go so good is when I take back a property we get inside and it's just destroyed and and you know and I do my best to try to Discount uh we talked about this yesterday so I'll get my B value I'll get my best guess on that after talking to the agent call it 100,000 call it 50,000 doesn't matter I'll always discount 10% off the top and say okay so whatever they say it's worth I'm taking off 10% just as a buffer yeah uh because you know because it's never going to be in to shape it's never going to be the prettiest house on the Block yeah just as a yeah yeah you know the only time I would say that doesn't counter as wins the condo right um condo are typically much better value that's true estimate yeah um when it's a row home little different but yeah single family home we're not going to say it's the most the best one on the Block um and you know year buil come to play um and things like that we've actually had times where we had an agent go out to a home and the neighbor came out like hey what you doing here and the neighbor tells us all kinds of good stuff about what's going on here to the point where Hey listen yeah that person move to California yeah yeah yeah you get a lot of story for the Neighbors when I was going around looking at properties myself way back in the day I I would I would knock on doors of neighbors and just say hey what can you tell me about the folks who used to live here and this and that and just uh and and they would tell you all kinds of stuff that you never wanted to know and just they'll tell you the whole story and then some um but that was really useful information back then and just kind of getting that I I don't get that very often anymore sometimes the the realtor will talk to a neighbor but not usually not anymore yeah oh a tough time so guys I wanted to do this quick kind of Friday afternoon video we did send out um a list of 10 uh bulk asset lists uh you can do a um a loan level bidding on it if you want to um but we did send out that 10 assets for sale that we want to get offers back by Monday on um they're mostly performing um there's one second on it the rest are first um they're not ours there's someone looking throw us a broker on there's no fee for the buyers it's strictly just send us your offer so if you have received our email let us know um Nathan I know that there's uh stuff going on this year I'm looking forward to seeing you having you know a coffee with you and chatting some more um and we're looking to come on with uh some new guests in couple weeks uh we're having some internal discussions about who they would be if there's something particular you want us to talk about feel free to reach out to us and let us know um but from there on man I hope you have a good weekend hopefully we don't get any more snow um and You're expect a little bit more we are right now so we'll see how much actually accumulates oh we had five six Ines yesterday again uh so yeah the kids are loving and hating at the same time so well guys snow day this week so that was nice oh we had we've had snow day they're in the other room unfortunately still in school so guys if you have any questions feel free to jump on uh you can reach out to Nathan myself um but hopefully we've answer some questions you may have about talking agents how to get a hold of them what questions you should ask them um and how to go about it and how to feel about it right what you're trying to get out of them isn't just value you're trying to get an understanding of the property the condition to understand what you what the agent could do to help you as well blocksmith stuff like that um you're looking for a complete picture and you're going to have the stumbling problem where the agent say well I'm not helping you you know what if that agent's good enough throw them some money we've done it so yeah gift card something like that for sure that absolutely cool well Nathan I appreciate having you on my man always a pleasure talking and we'll catch you again next week thank everybody bye bye one hey everybody dave putz here from jkp holdings nexotomy nathan turner hello hello hello hey good friday afternoon everybody hopefully everyone's having a good day and uh chiming in and whatnot so we'll we'll start off with seeing how they're going for the week i know there's another uh workshop going on right now that uh we'll be talking later on um and some good good resources out there nathan i know we're talking offline some things have happened with you in the recent couple days what's happening with your business what's going on we are it was good year uh we're we're just kind of we're expanding and we're we're getting a little bit bigger we're putting together a fund um i i can talk about a little bit more because we're gonna go with the uh the 506c uh which allows us to advertise so that's great cool yeah has anything recent this week happen i know that you're getting some you know you know you're getting some things returned to you and so i thought we're making fun of the fact that sometimes we're we report we record things that take a little longer than expected um so i know that it's weird to record things and then we don't count on it be returned in three days right it takes sometimes months i had a funny one yesterday we were talking about that where i had uh i had sold the property on seller finance back in august uh first payment in september they've been paying great uh we had to kind of delayed paperwork in my mind we had delayed putting out paperwork because we hadn't finished with the underwriting uh there were some extra documents that they had to produce and stuff and they they'd the previous house had had a fire so all their all their important documents had burned up and so there was getting stuff from the government it was just taking forever we eventually got that in fact just last week or two weeks ago so i sent them out the note and mortgage and everything at dita trust it's out in texas and so we got it all all sent out to them and and they're like oh yeah yeah we'll get that signed next week and get that out for you i actually had it on my calendar to check it with them today to make sure they're on it and then just yesterday i got in the mail i had sent them the paperwork back in august the note and the deed of trust and so that has been signed and i got it from the uh from the county where it has already been recorded so that's my job's already done for me i well i already did my own job taken care of it's it's crazy i mean glad to see it you know being done i know we've had recordings take months and months and months and it's one of the things that you know you have to follow up on it but it's not on the priority list of things to follow up on it's like listen as long as it gets recorded i don't care when it gets recorded so i i put it on my calendar to check in um you know two three weeks four weeks whatever whatever the case may be and just kind of just kind of check in i just did on one today i have the i have the electronic copy but i don't have the physical copy and of course yes yes it's coming okay let's just be sure yeah yep still need that too um for us we're just dealing with some bk stuff still on a couple cases uh we did have some issues with um some borrowers asking for some you know push-offs and with that and some deals we are right we have a couple deals we are actually allowing some kind of delay and some stuff um the fact that they've been paying in the past this is a free situation and whatnot and yeah we don't know what's going to happen in the future we know that money came out recently um and we hope that things kind of return over some states are turning over fashion others yeah yeah um i wanted to before we jump into here i want to make sure that people know that are tuning in uh we actually have um i know i've seen some posts about statute limitations we started kind of a spreadsheet um and i don't have the time and my team doesn't have a time but it's a great project for those who want to learn of a statute limitations spreadsheet to kind of chart to kind of go off of and kind of learn about status limitations because not it's not particularly on you know last payment received it's not hard for that in some states it depends on what it is sometimes maturity sometimes when it originated so a nice project for those who are interested in getting into take a look at it let me know or let my trade does know that you're looking to get into that project and kind of help us fill that the whole sheet out be great for everybody and like you say it really does depend on the state i've had it where actually the statute of limitations had passed but that only meant that i couldn't collect anything past whatever it was four years yeah so it's it's not like it's uh it's not it's not a dead deal it's not a dead loan uh it just means that i lost out on a portion of the interest where they had stopped paying some states allow you to do that right some states don't and that's the problem with it all is that some states um allow you to backdate stuff and uh some say so i'm just trying to bring up the sheet now for those who are interested in doing it uh can actually get into it so status limitations it depends on what the state has and what the the rules are on it so some states have the rules where it's based on when the collateral was last a payment received maybe it was when legal was filed and things like that it could even be a a an actual communication with the borrower it could be something as simple as that so it really depends on where it is and and the situation for that stuff have you been what if given you can you give an example of a statute of limitations you've run into yeah one that we had i'm pretty sure it was texas i remember four years so um there it was and they hadn't paid for something like six years uh and i i i'm not positive on the state so if i'm wrong on the state don't shoot me but but it just meant that i couldn't collect two of the six years i could collect up to you know what the statute of limitations was um and and in my case that was fine i was way underwater there was no equity anyway so those extra two years really didn't make a difference uh to our overall strategy on that so that worked out just fine so as you can see here um did that work about ours hopefully you can see it you see the chart yeah okay so this is simple like you know california has different rules uh colorado depends on maturity date acceleration date and whatnot right there's some states like florida who allow you to um advance the due date so if you're beyond the time you can't you can advance it to make it so they're no longer such and you're forgiving their rears right um so it's pretty cool idea to take a look at if you can get into it be awesome so if you're interested in kind of helping with that project let reach out let me know um we also wanted to uh share with you guys let me bring that share back up i apologize um uh if you're ever interested in getting agents uh we have over 9000 in our directory uh you have to go through our our portal our jkb holdings and you can pull in agents across the country so there's like 9 000 um i was showing nathan yesterday that we have their their names or email address phone numbers and ability to mess an email through it so feel free to take a look at that if you're looking for an agent who's local which is going to tune into this topic we're talking about today the other one i saw a post about question was regarding fee schedules service or fee schedules so inside of our our website under resources we actually have a free schedule uh for you to look at it's you don't have to do anything with it it this whole chart in our website you can look at but for servicers you can go into this google sheet and actually see basically by service or who it is like ally hp and we try collecting all their fee schedules but also the states they're licensed to collect dead in based on nmls so even though they may say they collect it we will only mark the states that are legally able to collect them so if you haven't seen us take a look at it let us know um but you just click on any one of these things and you go right to the the link for them there's tabs below so all that of course is subject to change if they've updated their policy blah blah blah but yeah yeah absolutely so and a lot of times we email them sometimes we able to get from their website but at least you guys can go to it and like you know see madison's site and all that stuff and this is the fee schedule they have uh kevin if you're listening sorry about this but uh we have it all listened up right so this helps you figure out it might am i in the state that's being covered okay so just take note of that so um but if you have any additional resources and things like that just feel free to jump in here so let's jump into our topic today so what we're discussing today is it's hard to um rob i don't know if you see that the post on facebook man but uh rob hoffman said it they were burned in florida for five years past maturity on a secured lien the court sided with the bar and wiped them out wow sorry rob when you're talking california uh florida but yeah okay yeah but uh rob i mean that's crazy to hear that man i i i shouldn't apologize but that's crazy yeah yeah um i know that we've pushed maturity data on a bunch of stuff yeah maybe there's more details to the rob i don't know we were able to advance it if you um for example i've got another one right now where it's actually past maturity date it's it's a little bit wonky because we're maturity date shows uh as actually next year but the original maturity date has already passed and we're actually in the process of trying to find the mod to prove that it's actually a maturity date and we've actually been able to locate it uh actually aaron our buddy and quinn she's on the case and she's making it happen so she aaron if you're listening i hope you feel better girlie i know you're dealing with some october [ __ ] stuff but no fun no fun that's awesome so interesting enough i think this topic is interesting for a lot of people is you know using agents and how to find local values now you and i spent over an hour on the phone yesterday talking about valuations and things like that that's a internal ability to do but we're trying to find that once the seller says yes i agree the price and we want to hard code or it counters it we want to hard code what our value is yeah you know we have a little different process but the end way we do it the second part of it is very similar so share with everyone how what's your first step when you get about you want to get a value so before i even set a bid um let's back up even a step more so you get a tape sometimes the tape will have a value on there and that's great that's a nice benchmark that's a nice starting point but by no means is that to be taken literally that's a nice suggested evaluation and not that i don't trust uh but i don't know how they came up with their evaluation like if they're just pulling zillow as estimates then we're not even talking the same language so so forget about it so it's a nice bench point uh another kind of a clue to the value of the property a potential clue or clue to a potential value is what the original balance was um especially if you're talking about like a contract for deed uh oftentimes it's right close to what the value is so that just again as a benchmark just to give you a starting point if they maybe they didn't put values on there but they've got the original balance on there so i'll give you an idea so that being said then um i will go through and look at i prefer red fin and i look at sold comps in the area and and and meaning not just properties that sold but i'm looking for same square footage and number of bedrooms that kind of thing so a true comp of stuff that's sold in the area so and then if it's not on redfin i'll go and look at zillow uh they they pull from different sources i i'm i don't understand the background behind that but they have different numbers which i find kind of odd and interesting at the same time and then like we were talking about yesterday what i look at is okay so my this loan hasn't paid for two years um so it's not going to be at the top of the market it's not going to be the the arv value that you know something else sold down the street uh for fifty thousand dollars more it's not a real good comparison proper property because they're there they're taking care of it they're paying their mortgage versus mine where they haven't paid it very well could be vacant and you know vandalized and this and that so i'm not looking the top of the market i'm not necessarily looking at the very bottom of the market either so it's really kind of a little bit more of an art than a science where i'm just looking at it and and giving my very best guess at what i think the value is and this is just this is the free due diligence that i've done uh all it cost me is my time and i'll look at and put a number to it whatever i think it might be worth very true i mean tim and i do the same thing for years uh yeah and just kind of and to come up with the what you go through the analytics you go through in your head is impossible yeah if there's a church nearby school nearby railroad tracks railroad industrial area there's so many pillars that you can't make a list of that and analyze it with a computer it's just not no no no um you know and maybe it's a development off a main road where the house and the corner is old and not as as attractive as the one you're looking at yeah that the value is completely different yeah so when we do a similar situation we do pull a bunch of avm to kind of analyze it to do quick and dirty if we have the time we'll do it and dive in like you are but once we get that number we want to make a bid and stuff like that and that the seller counters you know i don't go full force and order bpos i know that's something you do so discuss what you're expecting from the bpo i i do if i think i'm right okay like for example we looked at one yesterday where uh seller's valuation was seventy one thousand i had it up around ninety five nine to a hundred so i figured i think i'm right on this one uh so in that case i did go and get a bpo okay uh and it turned out well and that that that worked and i i was actually right that's awesome but once you take that information right if you want to get more information about that local information from that bpo i think our next step is very similar where you use the bpo to get the agent right yeah yeah i use my directory and my resources and even my local investors who i reach out to to reach out to them directly yeah right yeah so when you get a hold of bpo and you want to ask questions you're calling that agent to find out hey tell me more i do because i and i figure i'll talk to that agent um i could call somebody else i could you know i can do all that kind of thing and sometimes i have depending on the situation but i'll call that bpo agent just because they were just there they were just looking at it you know within the last couple of days so i'll call them up and say okay so hey i just and and i make it clear up front i'm not here to try to change your mind i'm not trying to i'm not trying to argue what you sent in uh if it's drastically different than what i said or even if it's not i'm not trying to be right i just i'm trying to understand and so can you just tell me a little bit about the neighborhood are things selling in the neighborhood um i saw you used a comp from a mile away i'm just curious why i use that one instead of something that's closer and you know i'm just i'm just trying to get more of the story the stuff that's not on the report yeah are things selling quickly you know and again that's on the report but only kind of right and if i could talk to them and just kind of get a feel of what the story is for the neighborhood yeah you know we ask similar questions i ask typically ask them hey listen is this a renter's area or ownership area yeah like what if i have to take this back am i renting this house or what am i doing with it um what are rent numbers going for the area yeah um i asked them for their personal knowledge of the area you know i've had asians talk to me about hey you wouldn't believe in 1962 there was a barrier here and you're talking to a guy and you're like whoa yeah you're on this side of the barrier or that side of the barrier it's completely different that google maps zillow can't ever detect right so yeah it's you know it's actually not too far from this place or that place that's really good or that's really bad or whatever or they'll go building a walmart yeah schools building a walmart yeah so it's it's very profitable just to spend five ten minutes talking to an agent yeah just to get you know the rest of the story that's not on the report so has there been i know we've had have you had any situation where agents were surprised you like whoa that was not what i expected oh for sure i had uh yeah on a somewhat regular basis where i thought it was this the seller even thought it was that uh and then the agent goes and looks and sends back the report uh you know i gosh i've had that uh several times where i thought it was worth whatever it is you know sixty seventy thousand dollars and they come back and they tell me 30 or 40 i'm like oh wow what happened there and just because i'm like really cause yeah i'm you know i'm just i'm not seeing that from what i can see and again i'm not trying to prove a point i'm just i'm trying to understand and she tells me uh oh yeah the doors kicked in and i was able to peek my head in there and it's just like full of everything and nothing and it's just awful so i'm like okay thanks for the info i've had this the same situation but i've also had where it's like uh that house is on the list for just being destroyed you're like oh oh wait wait what and all that goes out the window because it is crazy yeah um we've also done it the famous thing of calling the electric company right and finding out you know if electric's on now you can't ask that question but there's ways around it such as hey listen i'm buying the house from the owner we want to see what the average rent you know average electric bill month is and they'll say well it's normally 300 okay great you know and when you know the power still on i just make it sure the homeowner and typically they'll say no the power has been off for three months now oh okay thank you yeah and you get that knowledge so getting on the phone with some of these agents is key in some situations yeah um all ages are different that's the battle we have is dealing with an agent understands that well this house is enlisted how am i supposed to price something that doesn't isn't listed for sale i can't see inside yeah how do you how do you deal with that i mean i you know what i like you say not all agents are created equal so i don't spend a lot of time with ones that are giving me grief right off the bat they're like well what am i supposed to do with this and i don't know about this and that and i don't even know about this neighborhood okay well thanks so much for your time i think i'm going to call somebody else and and you know i'd i've said it like you know i i don't think this one's going to work out for for us and yeah we'll go somewhere else but i find a lot of the times um it's the young hungry guys that are the ones that are gonna you know be the commandos out there and peek in windows and they're not afraid to get out of their car when they go and look at the house yeah and you know we've had it where i'm sure yet too where the per the agent called me up one time is like the house is pretty good but i'm gonna tell you about the kitchen okay this is you know well i'm seeing under the cabinets and you're like whoa what do you mean you sing under the cabinet like is it like a hole inside the house oh no i'm inside you're like no oh it's like well we had to get inside and see the guy like no don't don't you can peek in the windows if you want to no trespassing yeah so that battles with us is that you know we want to get the value of the property we'd love to know interior sure um am i gonna hate adrian for doing that i'm gonna cya myself but i'm gonna love to know the local information inside um yeah they'll call and be like oh sorry i hope you don't mind i went and looked inside i'm like oh okay yeah i'm not agreeing with it but i love the fact you did it you know yeah and usually agents like i know i can't i just it makes sense to do and there was no one there you're like okay and we've gotten the stream where there's a lock box on the front door and we don't know the code um and i'm not sharing the information publicly there are very easy ways to get past lock box um especially for preservation services um yeah i'm not sharing it guys there's there's a very easy way to get through that but it is right um yeah one of my earlier deals we had a station there was a three-letter combo code and i'm like blah blah blah and you're like how'd you do that it's just what it is so you know interior conditions is difficult there are asians out there that really are solid and we love to turn back to them and go back to that agent and buy more of that area because they're eating so good yeah yeah it's worth it when you and exactly that when you find a good agent i will literally go back to that city because of that agent yeah and uh you know when i see it come up on a tape i'll be like oh okay oh right there that's so-and-so yeah for sure let's do this i know look at it more carefully yeah yeah because you have yeah you have a team built there yeah and i have those i have those we have those hot spots we'll buy something a little bit less than what we can really our goal target is for the fact that we can i can get in now quickly i'm solid on my values i know i can get a sell i know i can rent it if i need to um you know anything like that i've had times where i've called an agent and it wasn't i wasn't careful it just wasn't what i expected where i talked to his agent he was an reo agent and he says oh my god i can't believe um bobby smith's in foreclosure and i'm like oh you know i'm like oh yeah that's my daughter's best friend's parents and i'm like oh and then i had to go in my spiel like listen uh you can't let them know i'm calling you like i'm just looking for condition we end up buying it um and we're able to refund it was a good reinstatement opportunity so yeah west virginia so on the other hand so of the many issues with chicago and cook county one of those is i've had not a ton but you know half a dozen properties over the years there i have never had a good agent in chicago and it's been a constant struggle where i'll go through like two or three on one property and like i have done that in the past so if anyone's got a good chicago agent yeah let me know because i i've got one right now that i'm gonna have to be dealing with sometime soon here let me see if i can um tag our friend on on this uh see if i can get one for you i would have to look through our list as well uh chicago's a hit or miss um for many reasons it's just a very complex city baltimore i've had more success in uh in atlanta um but chicago is just one city i stay away from for multiple reasons all kinds of reasons yeah yeah uh let me see if we can tag him every once in a while the numbers make sense and i'm like yeah i could do this yeah yeah yeah let's oh gosh yeah it's weird because when we first got started you and i think we probably bought the same city of columbus ohio and did a lot of deals in there um and we have some good good people that i i still count on to today uh for stuff like that i just wish that ohio was a little bit uh more friendly in general yeah they make it a little difficult sometimes yeah you know there's new laws new stuff like that and the the time for you of ohio is just not fun yeah but again that being said again i've got a great agent that i've used for years we've we've met him forever ago ten years ago and i would still call roger out in columbus yeah roger yeah yeah so i'll look at columbus specifically uh partially because i know the city quite well as well but also because i know i got roger there and he'll make sure the job gets done yeah you know and guys if you're going to get fine agents we're not looking for the agent just to give you a value right we want to know the aftermath if i have to take this property back yeah do you have contractors do you have locksmiths trash outs because i'm gonna call you and then i'm gonna call you a week later hopefully have everything done ready to go and i get a bill sent to me i don't wanna nickel and dime you're gonna be a local person some agents are willing to take the lechik on their name it depends on the agent yeah so are you you're not only you know how when you get a hold of an agent for the new time how do you sell them on the fact that you know they're getting information for free you know you pay for the bpo they made me 30 on it right you know is there a way you can convince them to give you information without paying for sometimes i'm sure we both paid for it but yeah i you know i'm i'm pretty upfront i don't try to hide anything i so i'll tell them you know there's a very good chance that i'm taking this property back uh and if that's the case i'll be selling it so i'm i'm hoping to be able to use you in the future um whenever i'm done the foreclosure or whatever it happens to be if that happens it may not but i'm just telling you there's a good chance i'm taking this back so if you can help me out you know now i i'll be calling you back in six or eight months or whatever it is yeah and we do the same thing right you listen we're gonna need an agent i have no agents in your local area you're my go-to person if you're able to help me up here the back end is here yeah um it's hard to sell that because you may get a reinstatement and you may not use them yeah um some of the good agents who've done a lot of work for us we're gonna throw them you know gift card we'll throw them 50 bucks yeah and say hey you know what amazing work man you know they got out there quick they got information quick because that's the biggest thing was you're really and these to me are more important than bpos itself i saw the front doors kicked in because they don't write a lot of stuff on the bpos very general yeah yeah so for me the agents tell me more than just the value of the property because no one knows value right what they actually tell me is what is around me the property what is the market conditions the days of market what kind of houses are selling what's going on locally for you know jobs and whatnot are people moving in are people moving out is it a rental area and what should i expect from this property um we've gotten times where agents have told us that we we know the borrowers oh their town problem um we've had we're like wow that's a really nice up and coming area or hey listen if that was three blocks away that's golden here's the a b and c section so now i kind of have a map and know the fact that yeah i'm in the c section but i know that i that center area is better for values and i can look out for that stuff yep yeah exactly yeah i had i've got one actually right now i'm actually closing on it next week uh in north carolina and the first time i'm working with this guy i will for sure go back and see if i can get anything else in the kernersville area because this guy's fantastic often times i find that the good agents are the ones that are also investors if if they are if they do their own property investing on the side whether it's rentals or flips or whatever if they do any other kind of real estate investing then they usually are better in that well i'd say almost without exception they're usually better agents because because they can understand where i'm coming from they're not just the guy that's going to throw it up on mls and be done they understand there's more to it they know why i'm doing what i'm doing they they get all kind of the background information the another thing is you know agents can be broker agents or whatnot and it's limited you know and it's like thank you but don't thank you don't throw me an avm and say well the average value desk yeah it doesn't tell me anything no no i need you to lay eyes on the house i need you if you can you know tell me something about it does it look occupied um you know was there mail falling out of the mailbox is there you know the gutters are they full of of leaves and trash or are they clear you know like tell me yes what's really going on here yeah you know the big one is like the mailbox is overflowing there's newspapers on the driveway oh okay and we talked yesterday one of the good ways to tell if a borrower is living in the home or not is where the property tax bill is up yeah that's one of the first signs like the property tax bill is sent somewhere now if it's not if it's sent somewhere else it could be a renter but may not be right um in kind of things so this is our way to kind of hard code our value that you know bpos do a little bit but really knowing the agent and understand the agent's point of view and you know the drive-by the right up on it um now we're not taking what they say for gold right the roof is terrible that could be a perspective exactly yeah i've had that where they go through and they're like oh wow it's it's in pretty rough shape i'm like uh-huh that's totally subjective yes rough shape it could mean anything that could mean that it needs a paint job or it could mean that there's mold all over the walls so yeah rough shape doesn't i i've got over that a long time ago where they call them and they're like oh man i just went through this it's in pretty bad shape i'm like okay yeah and unfortunate people think that way that listen i get the fact that i respect the fact you may be willing to um have an opinion of what's going on but the problem is just it doesn't work that way yeah because i don't know if what you think is real is real right right yeah exactly exactly so when you tell me rough shape meaning what meaning the carpet needs to be replaced or meaning that there's broken this that and holes in the walls and obviously the copper is gone and that kind of thing like that i need specifics don't just tell me rough shape because doesn't tell me anything i've had the rough shape and like well i'm in high heels and i'm not walking in our house that doesn't tell me anything right right you know it's just tough you know i we appreciate the fact that you know send me pictures yeah you know if you see something send me a picture what you think you see yeah and say this is what i see um my father is in the military and one of the things he always says the air trap patroller is that you never told the pilot what the problem was right you always says it appears that this is what's going on and say listen it appears naked because there's a tree growing outside the front porch in front of the door great thank you for the information i'll make the judge of someone living or not i've seen people live in crab yes and it because it's weird doesn't make it unlivable just because doesn't mean somebody's living there yeah you know so or even worse at the you know there's hoarders obviously there's people that are just squatting in the house yeah um and and whatnot so that kind of stuff goes crazy so when you get down to it when you're valuing the property we're using our eyeballs on the websites we're using our understanding what the agents say it is and we use the seller's value to a point i use another metric um that most people don't and i got this from kimberly uh years ago is the uh tax assessment market value not the assessment market assessment value but the market value so what do you what i found out is that yeah so what i found out in the south it's it's on more than south and north so there's a there's a tax assessment value and a tax assessment market value so the difference is that when the tax issue goes out they value the property of whatever they value at the assessment value is usually the percentage of that it could be 100 it could be 50 and then they basic taxes off the assessment value well the taxes market value is what they feel the property value is and they typically value that a couple years sometimes it's annually sometimes every three years every 10 years but in the south there's parts of texas alabama their numbers are pretty on which is crazy but they've been on so it's another pillar of figuring out the value of the property and our portal system if you look up a property you actually get the assessment market value and you can use that as another pillar again when you're making an indicative offer like we talked yesterday we're not diving deep into this stuff yet no yet if i'm gonna bid on 100 assets i'm not going to dive into a property value until i get either counter or accepted because you and i know how many hours you can burn to just look at five properties in value and really be comfortable on the value of that property so that's a good point so when you first started how long would you spend looking at property value and try to determine that oh my god like on one property it was it was i would say 10 12 minutes on property to go and and i would review zillow and review like trulia or reviews right fit get their numbers then i would look at the the property itself on the the good old-fashioned zillow maps um and kind of like an idea but it was it was hard to do because then you get like while one's like well what kind of model house is it and you're like too much information at the end when i was going through and we're burning through assets back in the day with the granite stuff we were spending we would probably average probably 25 an hour or so so it was like two minutes in a dress oh that's pretty good didn't get in getting it out and it was a quick eyeball and we dove deeper it's a different story right but i would go on zillow get an idea look at the map get an idea what i see it as i would i would filter by square footages make sure i'm not looking at crazy numbers and this quick eyeball yeah and i can use the url to kind of filter quickly because i can just do the in the url it does a filter within it so that's what we do is we filter it down and then move his redfin was a big one for us um and there's a couple re off the top of my head i came out of the name of it re or real cre or something with that i forgot the website it's in my favorites but there was another site we can get bpos from it was like 25 hour pop so you know for us i go to my my first turn is to the agents and my investors right so i'd rather turn to one of the you know people listening and say listen i'm looking for a valuable property because typically you can buy your property better than a local agent because you're more likely an investor yourself or you know some way they could help out so that local agent and a local investor is often the people that we depend on most to give us the most information and the most confidence in that value yeah yeah and and again all of these things is most of the time unless they get inside most of the time it's based on an exterior yes uh you know opinion so yeah the times when i and we talked about this on a different show is the times when it doesn't go so good is when i take back a property we get inside and it's just destroyed and and you know and i do my best to try to discount uh we talked about this yesterday so i'll get my bpo value i'll get my best guess on that after talking the agent call it a hundred thousand call 50 000 doesn't matter i'll always discount 10 off the top and say okay so whatever they say it's worth i'm taking off 10 just as a buffer yeah because you know because it's never going to be in top shape it's never going to be the prettiest house on the block yeah it's just as a joke yeah yeah you know the only time i would say a dozen counters was a condo right um condor typically much better value that's your estimate yeah um when it's a row home a little different but yeah single family home we're not going to say it's the most the best one on the block um and you know your build come to play and things like that we've actually had times where we had an agent go out to a home and the neighbor came out i was like hey what you doing here and the neighbor tells us all kinds of good stuff about what's going on here to the point where hey listen yeah that person was in california yeah yeah yeah you get a lot of story for the neighbors when i was going around looking at properties myself way back in the day i i would i would knock on doors of neighbors and just say hey what can you tell me about the folks who used to live here and this and that and just uh and and they would tell you all kinds of stuff that you never wanted to know and just they'll tell you the whole story and then some um but that was really useful information back then and just kind of getting that i i don't get that very often anymore sometimes the realtor will talk to a neighbor but not usually not anymore yeah it's a tough time so guys i wanted to do this quick kind of friday afternoon video we did send out a list of 10 uh bulk asset lists you can do a um a low level bidding on it if you want to um but we did send out that 10 assets for sale that we want to get offers back by monday on um they're mostly performing um there's one second on it the rest are first um they're not hours there's someone looking for us a broker on there's no fee for the buyers they strictly just send us or your offer so if you haven't received our email let us know um nathan i know that there's uh stuff going on this year i'm looking forward to seeing you having a coffee with you and chatting some more um and we're looking to come on with uh some new guests in a couple weeks uh we're having some internal discussions about who they would be if there's something particular you want us to talk about feel free to reach out to us and let us know um but from there on man i hope you have a good weekend hopefully we don't get any more snow um and you're expecting a little bit more we gotta stop right now so we'll see how much actually accumulates oh we had five six inches yesterday again uh so yeah the kids are loving and heating at the same time so well guys our produce this week so that was nice oh we had we've had snow day they're in the other room before children still in school so guys if you have any questions feel free to jump on uh you can reach out to nathan myself um but hopefully we've answered some questions you may have about talking agents how to get a hold of them what questions you should ask them um and how to go about it and how to feel about it right what you're trying to get out of them isn't just value you're trying to get an understanding of the property the condition to understand what you what the agent could do to help you as well locksmiths stuff like that um you're looking for the complete picture and you're going to have the stumbling problem where the agent just said well i might help you you know what if that agent is good enough throw them some money we've done it so yeah gift card something like that for sure that absolutely cool well nathan i appreciate having you on the man uh yeah it's always a pleasure talking and we'll catch you again next week take care everybody bye bye one hey everybody dave putz here from jkp holdings nexotomy nathan turner hello hello hello hey good friday afternoon everybody hopefully everyone's having a good day and uh chiming in and whatnot so we'll we'll start off with seeing how they're going for the week i know there's another uh workshop going on right now that uh we'll be talking later on um and some good good resources out there nathan i know we're talking offline some things have happened with you in the recent couple days what's happening with your business what's going on we are it was good year uh we're we're just kind of we're expanding and we're we're getting a little bit bigger we're putting together a fund um i i can talk about a little bit more because we're gonna go with the uh the 506c uh which allows us to advertise so that's great cool yeah has anything recent this week happen i know that you're getting some you know you know you're getting some things returned to you and so i thought we're making fun of the fact that sometimes we're we report we record things that take a little longer than expected um so i know that it's weird to record things and then we don't count on it be returned in three days right it takes sometimes months i had a funny one yesterday we were talking about that where i had uh i had sold the property on seller finance back in august uh first payment in september they've been paying great uh we had to kind of delayed paperwork in my mind we had delayed putting out paperwork because we hadn't finished with the underwriting uh there were some extra documents that they had to produce and stuff and they they'd the previous house had had a fire so all their all their important documents had burned up and so there was getting stuff from the government it was just taking forever we eventually got that in fact just last week or two weeks ago so i sent them out the note and mortgage and everything at dita trust it's out in texas and so we got it all all sent out to them and and they're like oh yeah yeah we'll get that signed next week and get that out for you i actually had it on my calendar to check it with them today to make sure they're on it and then just yesterday i got in the mail i had sent them the paperwork back in august the note and the deed of trust and so that has been signed and i got it from the uh from the county where it has already been recorded so that's my job's already done for me i well i already did my own job taken care of it's it's crazy i mean glad to see it you know being done i know we've had recordings take months and months and months and it's one of the things that you know you have to follow up on it but it's not on the priority list of things to follow up on it's like listen as long as it gets recorded i don't care when it gets recorded so i i put it on my calendar to check in um you know two three weeks four weeks whatever whatever the case may be and just kind of just kind of check in i just did on one today i have the i have the electronic copy but i don't have the physical copy and of course yes yes it's coming okay let's just be sure yeah yep still need that too um for us we're just dealing with some bk stuff still on a couple cases uh we did have some issues with um some borrowers asking for some you know push-offs and with that and some deals we are right we have a couple deals we are actually allowing some kind of delay and some stuff um the fact that they've been paying in the past this is a free situation and whatnot and yeah we don't know what's going to happen in the future we know that money came out recently um and we hope that things kind of return over some states are turning over fashion others yeah yeah um i wanted to before we jump into here i want to make sure that people know that are tuning in uh we actually have um i know i've seen some posts about statute limitations we started kind of a spreadsheet um and i don't have the time and my team doesn't have a time but it's a great project for those who want to learn of a statute limitations spreadsheet to kind of chart to kind of go off of and kind of learn about status limitations because not it's not particularly on you know last payment received it's not hard for that in some states it depends on what it is sometimes maturity sometimes when it originated so a nice project for those who are interested in getting into take a look at it let me know or let my trade does know that you're looking to get into that project and kind of help us fill that the whole sheet out be great for everybody and like you say it really does depend on the state i've had it where actually the statute of limitations had passed but that only meant that i couldn't collect anything past whatever it was four years yeah so it's it's not like it's uh it's not it's not a dead deal it's not a dead loan uh it just means that i lost out on a portion of the interest where they had stopped paying some states allow you to do that right some states don't and that's the problem with it all is that some states um allow you to backdate stuff and uh some say so i'm just trying to bring up the sheet now for those who are interested in doing it uh can actually get into it so status limitations it depends on what the state has and what the the rules are on it so some states have the rules where it's based on when the collateral was last a payment received maybe it was when legal was filed and things like that it could even be a a an actual communication with the borrower it could be something as simple as that so it really depends on where it is and and the situation for that stuff have you been what if given you can you give an example of a statute of limitations you've run into yeah one that we had i'm pretty sure it was texas i remember four years so um there it was and they hadn't paid for something like six years uh and i i i'm not positive on the state so if i'm wrong on the state don't shoot me but but it just meant that i couldn't collect two of the six years i could collect up to you know what the statute of limitations was um and and in my case that was fine i was way underwater there was no equity anyway so those extra two years really didn't make a difference uh to our overall strategy on that so that worked out just fine so as you can see here um did that work about ours hopefully you can see it you see the chart yeah okay so this is simple like you know california has different rules uh colorado depends on maturity date acceleration date and whatnot right there's some states like florida who allow you to um advance the due date so if you're beyond the time you can't you can advance it to make it so they're no longer such and you're forgiving their rears right um so it's pretty cool idea to take a look at if you can get into it be awesome so if you're interested in kind of helping with that project let reach out let me know um we also wanted to uh share with you guys let me bring that share back up i apologize um uh if you're ever interested in getting agents uh we have over 9000 in our directory uh you have to go through our our portal our jkb holdings and you can pull in agents across the country so there's like 9 000 um i was showing nathan yesterday that we have their their names or email address phone numbers and ability to mess an email through it so feel free to take a look at that if you're looking for an agent who's local which is going to tune into this topic we're talking about today the other one i saw a post about question was regarding fee schedules service or fee schedules so inside of our our website under resources we actually have a free schedule uh for you to look at it's you don't have to do anything with it it this whole chart in our website you can look at but for servicers you can go into this google sheet and actually see basically by service or who it is like ally hp and we try collecting all their fee schedules but also the states they're licensed to collect dead in based on nmls so even though they may say they collect it we will only mark the states that are legally able to collect them so if you haven't seen us take a look at it let us know um but you just click on any one of these things and you go right to the the link for them there's tabs below so all that of course is subject to change if they've updated their policy blah blah blah but yeah yeah absolutely so and a lot of times we email them sometimes we able to get from their website but at least you guys can go to it and like you know see madison's site and all that stuff and this is the fee schedule they have uh kevin if you're listening sorry about this but uh we have it all listened up right so this helps you figure out it might am i in the state that's being covered okay so just take note of that so um but if you have any additional resources and things like that just feel free to jump in here so let's jump into our topic today so what we're discussing today is it's hard to um rob i don't know if you see that the post on facebook man but uh rob hoffman said it they were burned in florida for five years past maturity on a secured lien the court sided with the bar and wiped them out wow sorry rob when you're talking california uh florida but yeah okay yeah but uh rob i mean that's crazy to hear that man i i i shouldn't apologize but that's crazy yeah yeah um i know that we've pushed maturity data on a bunch of stuff yeah maybe there's more details to the rob i don't know we were able to advance it if you um for example i've got another one right now where it's actually past maturity date it's it's a little bit wonky because we're maturity date shows uh as actually next year but the original maturity date has already passed and we're actually in the process of trying to find the mod to prove that it's actually a maturity date and we've actually been able to locate it uh actually aaron our buddy and quinn she's on the case and she's making it happen so she aaron if you're listening i hope you feel better girlie i know you're dealing with some october [ __ ] stuff but no fun no fun that's awesome so interesting enough i think this topic is interesting for a lot of people is you know using agents and how to find local values now you and i spent over an hour on the phone yesterday talking about valuations and things like that that's a internal ability to do but we're trying to find that once the seller says yes i agree the price and we want to hard code or it counters it we want to hard code what our value is yeah you know we have a little different process but the end way we do it the second part of it is very similar so share with everyone how what's your first step when you get about you want to get a value so before i even set a bid um let's back up even a step more so you get a tape sometimes the tape will have a value on there and that's great that's a nice benchmark that's a nice starting point but by no means is that to be taken literally that's a nice suggested evaluation and not that i don't trust uh but i don't know how they came up with their evaluation like if they're just pulling zillow as estimates then we're not even talking the same language so so forget about it so it's a nice bench point uh another kind of a clue to the value of the property a potential clue or clue to a potential value is what the original balance was um especially if you're talking about like a contract for deed uh oftentimes it's right close to what the value is so that just again as a benchmark just to give you a starting point if they maybe they didn't put values on there but they've got the original balance on there so i'll give you an idea so that being said then um i will go through and look at i prefer red fin and i look at sold comps in the area and and and meaning not just properties that sold but i'm looking for same square footage and number of bedrooms that kind of thing so a true comp of stuff that's sold in the area so and then if it's not on redfin i'll go and look at zillow uh they they pull from different sources i i'm i don't understand the background behind that but they have different numbers which i find kind of odd and interesting at the same time and then like we were talking about yesterday what i look at is okay so my this loan hasn't paid for two years um so it's not going to be at the top of the market it's not going to be the the arv value that you know something else sold down the street uh for fifty thousand dollars more it's not a real good comparison proper property because they're there they're taking care of it they're paying their mortgage versus mine where they haven't paid it very well could be vacant and you know vandalized and this and that so i'm not looking the top of the market i'm not necessarily looking at the very bottom of the market either so it's really kind of a little bit more of an art than a science where i'm just looking at it and and giving my very best guess at what i think the value is and this is just this is the free due diligence that i've done uh all it cost me is my time and i'll look at and put a number to it whatever i think it might be worth very true i mean tim and i do the same thing for years uh yeah and just kind of and to come up with the what you go through the analytics you go through in your head is impossible yeah if there's a church nearby school nearby railroad tracks railroad industrial area there's so many pillars that you can't make a list of that and analyze it with a computer it's just not no no no um you know and maybe it's a development off a main road where the house and the corner is old and not as as attractive as the one you're looking at yeah that the value is completely different yeah so when we do a similar situation we do pull a bunch of avm to kind of analyze it to do quick and dirty if we have the time we'll do it and dive in like you are but once we get that number we want to make a bid and stuff like that and that the seller counters you know i don't go full force and order bpos i know that's something you do so discuss what you're expecting from the bpo i i do if i think i'm right okay like for example we looked at one yesterday where uh seller's valuation was seventy one thousand i had it up around ninety five nine to a hundred so i figured i think i'm right on this one uh so in that case i did go and get a bpo okay uh and it turned out well and that that that worked and i i was actually right that's awesome but once you take that information right if you want to get more information about that local information from that bpo i think our next step is very similar where you use the bpo to get the agent right yeah yeah i use my directory and my resources and even my local investors who i reach out to to reach out to them directly yeah right yeah so when you get a hold of bpo and you want to ask questions you're calling that agent to find out hey tell me more i do because i and i figure i'll talk to that agent um i could call somebody else i could you know i can do all that kind of thing and sometimes i have depending on the situation but i'll call that bpo agent just because they were just there they were just looking at it you know within the last couple of days so i'll call them up and say okay so hey i just and and i make it clear up front i'm not here to try to change your mind i'm not trying to i'm not trying to argue what you sent in uh if it's drastically different than what i said or even if it's not i'm not trying to be right i just i'm trying to understand and so can you just tell me a little bit about the neighborhood are things selling in the neighborhood um i saw you used a comp from a mile away i'm just curious why i use that one instead of something that's closer and you know i'm just i'm just trying to get more of the story the stuff that's not on the report yeah are things selling quickly you know and again that's on the report but only kind of right and if i could talk to them and just kind of get a feel of what the story is for the neighborhood yeah you know we ask similar questions i ask typically ask them hey listen is this a renter's area or ownership area yeah like what if i have to take this back am i renting this house or what am i doing with it um what are rent numbers going for the area yeah um i asked them for their personal knowledge of the area you know i've had asians talk to me about hey you wouldn't believe in 1962 there was a barrier here and you're talking to a guy and you're like whoa yeah you're on this side of the barrier or that side of the barrier it's completely different that google maps zillow can't ever detect right so yeah it's you know it's actually not too far from this place or that place that's really good or that's really bad or whatever or they'll go building a walmart yeah schools building a walmart yeah so it's it's very profitable just to spend five ten minutes talking to an agent yeah just to get you know the rest of the story that's not on the report so has there been i know we've had have you had any situation where agents were surprised you like whoa that was not what i expected oh for sure i had uh yeah on a somewhat regular basis where i thought it was this the seller even thought it was that uh and then the agent goes and looks and sends back the report uh you know i gosh i've had that uh several times where i thought it was worth whatever it is you know sixty seventy thousand dollars and they come back and they tell me 30 or 40 i'm like oh wow what happened there and just because i'm like really cause yeah i'm you know i'm just i'm not seeing that from what i can see and again i'm not trying to prove a point i'm just i'm trying to understand and she tells me uh oh yeah the doors kicked in and i was able to peek my head in there and it's just like full of everything and nothing and it's just awful so i'm like okay thanks for the info i've had this the same situation but i've also had where it's like uh that house is on the list for just being destroyed you're like oh oh wait wait what and all that goes out the window because it is crazy yeah um we've also done it the famous thing of calling the electric company right and finding out you know if electric's on now you can't ask that question but there's ways around it such as hey listen i'm buying the house from the owner we want to see what the average rent you know average electric bill month is and they'll say well it's normally 300 okay great you know and when you know the power still on i just make it sure the homeowner and typically they'll say no the power has been off for three months now oh okay thank you yeah and you get that knowledge so getting on the phone with some of these agents is key in some situations yeah um all ages are different that's the battle we have is dealing with an agent understands that well this house is enlisted how am i supposed to price something that doesn't isn't listed for sale i can't see inside yeah how do you how do you deal with that i mean i you know what i like you say not all agents are created equal so i don't spend a lot of time with ones that are giving me grief right off the bat they're like well what am i supposed to do with this and i don't know about this and that and i don't even know about this neighborhood okay well thanks so much for your time i think i'm going to call somebody else and and you know i'd i've said it like you know i i don't think this one's going to work out for for us and yeah we'll go somewhere else but i find a lot of the times um it's the young hungry guys that are the ones that are gonna you know be the commandos out there and peek in windows and they're not afraid to get out of their car when they go and look at the house yeah and you know we've had it where i'm sure yet too where the per the agent called me up one time is like the house is pretty good but i'm gonna tell you about the kitchen okay this is you know well i'm seeing under the cabinets and you're like whoa what do you mean you sing under the cabinet like is it like a hole inside the house oh no i'm inside you're like no oh it's like well we had to get inside and see the guy like no don't don't you can peek in the windows if you want to no trespassing yeah so that battles with us is that you know we want to get the value of the property we'd love to know interior sure um am i gonna hate adrian for doing that i'm gonna cya myself but i'm gonna love to know the local information inside um yeah they'll call and be like oh sorry i hope you don't mind i went and looked inside i'm like oh okay yeah i'm not agreeing with it but i love the fact you did it you know yeah and usually agents like i know i can't i just it makes sense to do and there was no one there you're like okay and we've gotten the stream where there's a lock box on the front door and we don't know the code um and i'm not sharing the information publicly there are very easy ways to get past lock box um especially for preservation services um yeah i'm not sharing it guys there's there's a very easy way to get through that but it is right um yeah one of my earlier deals we had a station there was a three-letter combo code and i'm like blah blah blah and you're like how'd you do that it's just what it is so you know interior conditions is difficult there are asians out there that really are solid and we love to turn back to them and go back to that agent and buy more of that area because they're eating so good yeah yeah it's worth it when you and exactly that when you find a good agent i will literally go back to that city because of that agent yeah and uh you know when i see it come up on a tape i'll be like oh okay oh right there that's so-and-so yeah for sure let's do this i know look at it more carefully yeah yeah because you have yeah you have a team built there yeah and i have those i have those we have those hot spots we'll buy something a little bit less than what we can really our goal target is for the fact that we can i can get in now quickly i'm solid on my values i know i can get a sell i know i can rent it if i need to um you know anything like that i've had times where i've called an agent and it wasn't i wasn't careful it just wasn't what i expected where i talked to his agent he was an reo agent and he says oh my god i can't believe um bobby smith's in foreclosure and i'm like oh you know i'm like oh yeah that's my daughter's best friend's parents and i'm like oh and then i had to go in my spiel like listen uh you can't let them know i'm calling you like i'm just looking for condition we end up buying it um and we're able to refund it was a good reinstatement opportunity so yeah west virginia so on the other hand so of the many issues with chicago and cook county one of those is i've had not a ton but you know half a dozen properties over the years there i have never had a good agent in chicago and it's been a constant struggle where i'll go through like two or three on one property and like i have done that in the past so if anyone's got a good chicago agent yeah let me know because i i've got one right now that i'm gonna have to be dealing with sometime soon here let me see if i can um tag our friend on on this uh see if i can get one for you i would have to look through our list as well uh chicago's a hit or miss um for many reasons it's just a very complex city baltimore i've had more success in uh in atlanta um but chicago is just one city i stay away from for multiple reasons all kinds of reasons yeah yeah uh let me see if we can tag him every once in a while the numbers make sense and i'm like yeah i could do this yeah yeah yeah let's oh gosh yeah it's weird because when we first got started you and i think we probably bought the same city of columbus ohio and did a lot of deals in there um and we have some good good people that i i still count on to today uh for stuff like that i just wish that ohio was a little bit uh more friendly in general yeah they make it a little difficult sometimes yeah you know there's new laws new stuff like that and the the time for you of ohio is just not fun yeah but again that being said again i've got a great agent that i've used for years we've we've met him forever ago ten years ago and i would still call roger out in columbus yeah roger yeah yeah so i'll look at columbus specifically uh partially because i know the city quite well as well but also because i know i got roger there and he'll make sure the job gets done yeah you know and guys if you're going to get fine agents we're not looking for the agent just to give you a value right we want to know the aftermath if i have to take this property back yeah do you have contractors do you have locksmiths trash outs because i'm gonna call you and then i'm gonna call you a week later hopefully have everything done ready to go and i get a bill sent to me i don't wanna nickel and dime you're gonna be a local person some agents are willing to take the lechik on their name it depends on the agent yeah so are you you're not only you know how when you get a hold of an agent for the new time how do you sell them on the fact that you know they're getting information for free you know you pay for the bpo they made me 30 on it right you know is there a way you can convince them to give you information without paying for sometimes i'm sure we both paid for it but yeah i you know i'm i'm pretty upfront i don't try to hide anything i so i'll tell them you know there's a very good chance that i'm taking this property back uh and if that's the case i'll be selling it so i'm i'm hoping to be able to use you in the future um whenever i'm done the foreclosure or whatever it happens to be if that happens it may not but i'm just telling you there's a good chance i'm taking this back so if you can help me out you know now i i'll be calling you back in six or eight months or whatever it is yeah and we do the same thing right you listen we're gonna need an agent i have no agents in your local area you're my go-to person if you're able to help me up here the back end is here yeah um it's hard to sell that because you may get a reinstatement and you may not use them yeah um some of the good agents who've done a lot of work for us we're gonna throw them you know gift card we'll throw them 50 bucks yeah and say hey you know what amazing work man you know they got out there quick they got information quick because that's the biggest thing was you're really and these to me are more important than bpos itself i saw the front doors kicked in because they don't write a lot of stuff on the bpos very general yeah yeah so for me the agents tell me more than just the value of the property because no one knows value right what they actually tell me is what is around me the property what is the market conditions the days of market what kind of houses are selling what's going on locally for you know jobs and whatnot are people moving in are people moving out is it a rental area and what should i expect from this property um we've gotten times where agents have told us that we we know the borrowers oh their town problem um we've had we're like wow that's a really nice up and coming area or hey listen if that was three blocks away that's golden here's the a b and c section so now i kind of have a map and know the fact that yeah i'm in the c section but i know that i that center area is better for values and i can look out for that stuff yep yeah exactly yeah i had i've got one actually right now i'm actually closing on it next week uh in north carolina and the first time i'm working with this guy i will for sure go back and see if i can get anything else in the kernersville area because this guy's fantastic often times i find that the good agents are the ones that are also investors if if they are if they do their own property....