you you greetings and welcome to a live meet Kevin report today I as a 27 year old real estate broker and investor am going to show you how I look for real estate deals I was debating whether or not I should do this video because it's probably pretty dumb since I'm kind of showing you how I look for deals and that means you might take my deals but I guess that's a risk worth taking for the fact that I like sharing and educating so that's exactly what we're gonna do and I'm sure we'll be talking about fish and coffee like we always do but anyway in the meantime first things first when you're looking for real estate deals I don't care who you are how much money you got if you do not have a pre-approval letter you should not be looking for deals because there's nothing worse than finding a good deal and not being able to buy it so get pre-approved ideally get pre underwritten as well but let's go ahead and jump right in we're going to start with the Multiple Listing Service which obviously you're gonna need an agent to get into the Multiple Listing Service and get your portal set up there but I'm gonna show you how I look on the Multiple Listing Service you can do a lot of this on Zillow realtor.com as well I'm gonna show you some of the searches that I use and we're gonna go ahead and start with well my neck of the woods so here goes nothing I guess so we'll hop on over let's use that angle there we go actually you know what here I got a bigger angle how's that look at that that's beautiful so when you first look at how many listings are on the market you'll kind of get blown up a little bit oh thanks so much for the shout out out for my Miami crash course there that was fun anyway you get this overwhelming amount of listings anytime you first open up a portal and so the very first thing I like to do is I like to start with my city I'm gonna start with a particular city that I live in and the worst thing to do is kind of look at the list and then just look at like what the absolute cheapest properties are that's usually a bad idea so I'd much rather jump into a city and usually I always start with residential income properties there are some people out there like oh Kevin only like single-family no I actually really like multifamily as well it's just oftentimes a lot harder to get a residential income or multifamily deal so I'm gonna start with multifamily I'm gonna do the same thing I'm gonna go ahead and narrow down to the city of Ventura so I could see my multi-family deal and you can deals and you can see there are only 12 available I always start with the lowest days on the market because lowest days on the market are the properties that are most likely to have the the greatest potential and this is where you can kind of start looking at basically some of your newer properties here so a couple that I particularly want to look at is here you've got a beach duplex it's a two-bedroom two-bath a two-bedroom two-bath and if you were interested in doing an air B&B this could actually be a really good potential because you've got two units that you could air B&B and it's in a pretty prime location of Ventura here Bayshore Ventura California and the most important thing when you're looking at real estate listings is the location if I look at the map and I see that the units like right there next to the freeway I don't even look any further I don't look at the comps I don't even open the listing I really don't care like it's hard for you to pay me to buy stuff that's in a bad location so if it's in a bad location I don't care this property if you look it's actually in a pretty freakin great location it's like six Lots in from a street over here that's Peninsula that's a little bit busier it's one of these here on the left or right it's on sort of a regular residential neighboring neighborhood street here and another thing I particularly like about this is on this side you have duplexes but on this side you have pretty decent and nice single-family houses which is great but not only that if I then jump on over to the other side actually again I get these sort of duplexes on this side but the houses on this side they happen to got duplexes remember I got duplexes it's kind of like I got fish but you jump on over to the other side what's really cool about this kind of location is if you you've got dock homes on the other side so you've got really high value orb real estate especially from family real-estate here the problem with looking at high-value multi-family real estate is the price can be ridiculous its 1.2 million top hears well I almost 1.3 million dollars for a duplex that is a lot of money and arrow thank you so much for the $5 donation we will definitely be hitting that so residential income I will always look at my new residential income deals that hit the MLS the problem is when multifamily real estate hits the MLS it's really hard to get a good price on it so I usually don't prefer my multi-family real estate search on the MLS usually my best preference for finding multifamily deals is if I can get a deal that has not hit the market yet and get into a multi-family like that I'm usually able to get rents below market value pay based on lower cap rates because the rents are below market value and then buy it raise the rents and move on there are times deals like this will hit the market though I've sold many multifamily deals that have hit the market and have been below market value deals as residential income it's just a lot more rare and when you look at it why is it rare take take a look at why it wants at that button there take a look you've got 12 listings in a city of 110,000 people and when you start throwing out the ones that you don't want in my opinion like I don't want a church I don't care for this one I don't personally care for this one there's nothing necessarily wrong with it but when I start unchecking I'm down to nine decent ones and that's because I'm taking out weird kind of industrial churches whatever things I don't really care about so those things gotta go the next thing that I do while I'm on the MLS because I'm gonna talk to you a little bit about where else you can look besides the MLS for these deals but the next thing that I'm gonna do is I'm gonna look for my regular sort of single-family deals so the way I'm gonna do that and I'll show you exactly this is pretty much we're gonna jump back on over to my little split screen here I'm going to go back to residential same thing we showed you except this time cuz I keep up on this I'm gonna go countywide I could do this on residential income as well I'm gonna go countywide for deals here and we'll let those populate here so I got a thousand forty four fourteen hundred seventy seven deals now in every given area you should know what price range you're looking in I personally know that I'm looking for a single-family if I'm looking for single-family this is a single-family category so everything here is gonna be single-family I personally am NOT going to be interested in a lot a condo or townhouse though condos and townhouses can be a good way to start we talked about how to qualify those in the real estate investing course and you all know the coupon code is linked below 23% off with that coupon code I got fish no I'm sorry it's 10x the fish that's the code the codes 10x the fish that's funny okay anyways so now I'm gonna go ahead and check single-family and uh hold on I know this is a little cutoff here so let me just box over like this there we go so I'm gonna check a single-family that's gonna narrow me down from 1400 to 1100 but here's another thing that I'm going to do that a lot of people don't necessarily do but I think it's good because it's gonna narrow your focus and its really gonna keep you in that zone that you care about I'm not interested in the you know the the really really really cheap stuff like anything under $300,000 probably not gonna buy realistically I know in my market I'm not gonna look for anything under $375,000 it's just it's gonna be in a location that sucks or it's just not even gonna be something I'm gonna consider it's gonna be a burned-down how something have to read ever so I'm gonna go ahead and put in $375,000 and let's go up to 700 because I remember our median pray thank you so much by the way for the ten dollars here our median price point in our city is about 590 to $600,000 so I really don't want to exceed the median so I'm only going a little bit above the median but my goal is if I could find a house for for 455 that's gonna be worth you know somewhere between 5 and 650 that's gonna be a pretty good deal in this county so the next thing that I usually do I'm gonna stay on search here for a second when it loads you the next thing that I'm gonna do is I'm gonna take out off anything that has a pool so if it says but here's a very important trick you have to use the negative so I'm gonna say pool yes but then I'm gonna say not of yes and that's just because the way agents put stuff in can be really funky sometimes although for some reason this doesn't seem to be it doesn't look like it refreshed my not yet or I want not so we'll wait for that to load okay then the next thing that I'm gonna do is I know I don't need a massive house the bigger the house the more I'm gonna have to deal with on this property so I'm not super jazzed about that I'm gonna go ahead and put in a cap of probably somewhere around 2,800 square feet I don't want any 4,000 square foot houses you know I just don't want to deal with it and look I'm already down to like 256 here and this is this is a lot more of something I could deal with than 1,400 listings I can't go through 1,400 listings and the smallest property I probably am going to want to work on is gonna be I'd say 1,100 square feet but I'm just gonna go ahead and say 1050 to give it a little bit of a buffer that's I'm not gonna really want to hold something long-term that's smaller than that in this area sometimes you can get little two-in-ones and they're worth it but that's the other thing I don't want I don't want any property with any less than two bathrooms because remember at this I'm just looking for a basic kind of rental deal that's gonna be a good deal now after doing all of that narrowing down only now am I gonna go over to the list and what I'm gonna do is I'm always gonna sort by ascending days on the mark what do you mean my markup is 25% I'm always going to sort by days on the market and the reason for that is again just like with multifamily these are the most urgent deals if a property has been on the market for 90 days I bet yeah I got a couple days to think about it and go drive by and lowball it and screw around and call the listing agent whatever the proper zero days on market I gotta move and I got fish it's just sorry it just doesn't get old okay so anyway joke's on a live stream anyway can't edit you can't edit out bad jokes huh okay so let's go back to this list here mmm alright here we go let's make sure we're not we're not cut off over here and there we go alright perfect so the next thing that I'm gonna do is I so we sorted all of these by days on the market which is good but what I really want to do now is look for streets that I know being a real estate agent I know where a lot of these streets are and a lot of them I could tell you okay yeah I know for example that Santa Paula Street in Santa Paula is a busier kind of through Street you could see that here but I know that Santa Barbara Street is a quieter Street but I also know 574 in this area it's probably something that's a little bit more remodeled if this was like a 475 it'd be something I'd be more interested in clicking it or on but let's say I didn't know the market so well and I wasn't yet oh you know 100% on what I was looking for the easy thing that you can do when you're looking for deals is literally just flip through the pictures and look at that that's this is like I've already done like I don't need to look any further as soon as I see this remodeled kitchen the tiling it doesn't look like crap the first five pictures I'm moving on to the next one devonshire 620 that's a lot of money for this area and look at that they got like travertine tile on the outside dual pane windows look at that garage door it's like a two thousand dollar garage door you think I'm gonna get a good deal on that one probably not and you know sure enough the insides remodel okay next Ralston I know this is a busy street I don't even care I don't even want to look at it anymore this is interesting it's got dual paned windows it's got some stucco damage by the way analyze deals like this all the time on our live streams in the investing course and I love that they took a picture with trash cans blocking the trailer like it's actually kind of like sad but okay and so classic when the pictures on the outside are kind of bad what happens on the inside you go on the inside its acoustic ceilings it's older it's kind of dated so we've got some dated elements going on in here see they're obviously in the midst of moving there's some dated elements but again I know this and we'll do some comps in in a second here 585 on Robert Ave even though these pictures look like they have potential I know 585 on Robert Ave that is priced to perfection best-case scenario somebody's getting a market deal on that Kimber Drive on Newbury Park see I know that village these these are senior communities don't care about that vente Park Road not interested it's a busier Road newer construction lower chance I'm gonna be able to get a dual a deal on this and knowing that this is River Park for 680 I know I'm not getting a penny of a deal on here so what do we got here here's car a cardigan or yes this is an interesting one this is karna why can I say a cardinal there we go this is on Cardinal and what's interesting about this one is look at the first picture it's one of my favorite yeah butts not only do you have the high-tension power lines sorry the regular power lines right here you've got high tension power lines in the back like the big ones on the metal towers and you can actually see that by going to the map it's just another way to tell you like hey when you're looking at deals you start with location you start with these pieces but when I see these towers in the backyard and they're literally in my backyard not interested so then I see this I go whoa wait a minute like hard stop right here I see I'm kind of scroll around making sure I'm not losing my mind here but I see something like this I go wait a minute what is this five twenty five for a single in Camarillo like I don't know this street name I don't know that street name at all but I do know ah 525 525 in Camarillo that that seems like a low price I mean if a property on Cardinal in Ventura is next to high tension power lines and then here's one for 525 that's in Camarillo which Camarillo usually goes for 50 grand more than Ventura and the odds of it being next to high tension power lines are lower then that has more potential so then this is where I get interested and what's the first thing we do well first thing we do is change the camera to that and we look at the actual property we go okay cool so we're not up against a busy street we are though against the opposite side of a street that is busier last post this is one of the most busy streets in a Camarillo I happened to know that this part of town has an excellent school district that's good to know and you happen to look around and you go okay this is a single-family neighborhood not a lot of apartment buildings nearby less rental competition we look a little further I like zooming out a little bit as well kind of seeing what kind of amenities are around so what do we got here we got a plaza over here Google Maps is better for doing this by the way and that way you can kind of see what developments are going on if you keep seeing things like you know thrift store next to the discount make vape shop then you kind of already get like a little bit of an indication of what real estate is like in that area it doesn't even matter you know what you know what what you're looking at whether it's multi-family or single it doesn't matter but here look you got a Supercuts UPS store you got a Starbucks perfect oh look at that this to me is a sign that that Starbucks is a newer construction Starbucks because look on Google Maps it's still a lot but now it has a pin that it's a Starbucks which is good so blenders in the grass okay so locations seem you know you got some cool things in the area location it doesn't have any problems seems like it has sort of like a median sized lot this is an interesting property so this is the kind of property where I would you know check the box or I'd write it down I'll probably deselect all my multifamily deals here and we will go ahead no cash I don't mean to say that vape shop guarantees you're in a poor area it's a it's more to say that usually vape shops liquor stores you know what are like the Salvation Army's companies that have to they can't afford higher rents like the Starbucks the targets and the best bites usually go to areas where the neighborhood are also lower and remember I want to be in an area where I'm buying a deal that's below market value so for me to get a deal that's below market value I have to go into something and find okay where are values high to start with and where can i buy something cheaper that's that's what I want that to me is the trick of real estate is is how how can you figure out okay I'm going to you know go into multifamily you know residential development if I'm buying in Miami Beach I want to be as close as possible as I can be - maybe the higher-end restaurants the more luxury streets that have really nice amenities because that's going to keep my tenants in that neighborhood longer if they decide they have children or they want to have children adoption I don't really care but if people have places to go for dinner or coffee or computers or whatever and they can go spend money then they're more likely to stay longer and there's one thing that's the kiss of death in real estate its turnover tenant turnover is terrible because every time you have to go through the arduous screening processes it's it's a mess ladies I'm just not interested in it so let's let's go ahead and go back to this deal here all right so I'm gonna push that button so let's go back here where where were we okay so we check the box on a deal what else do we got so I think my list is out of order now yeah it is out of order so okay starting at the bottom is really nice because you're looking at newer deals I've already checked one now that I really like so what else do we have here's another one haciendas that one seems a little cheap let me make sure this is checked really quick check that box why is this one seem so cheap and is there anything else you know okay so why does this one seem sheep let's go ahead and look at the map first Wow look at that right away not interested not interested at all without me even saying anything you should look at this screen and say to yourself why is Kevin not interested in that deal it's 525 it's the same price as the last property he just said he was interested in but there you go not interested why cuz it's right it backs up to Mission Oaks Boulevard it's a busy street not interested maybe somebody else is but I so you know and I get a lot of questions on LLC's folks I'm doing an updated lecture by the way in the real estate investing course on all of my new updated thoughts on LLC's because they've evolved a little bit but ordinarily most people they try to delay buying real estate because they think they need to have an LLC you don't need an LLC to start yeah this is this is pretty much price to perfection here's one on Ellington which was actually cool about this let me see here oh wow no freaking way Wow so this by the way is another reason I really like looking for deals is I own a 2,300 square foot house in this neighborhood that I bought for $515,000 and this house let's do that this house just hit the market you know a few days ago for almost $700,000 its remodeled but it's only 1600 square feet so I look at that and I got cha-ching sweet so this is why when you're a real estate investor like you're always looking at deals because like in your mind you're updating okay sweet more equity good you kind of understand what values are in a certain area now we will do comps to on another deal here but I just want to see if I can find anything else you know usually once I start going past about 10 days on the market in any area the property either has a bunch of offers on it or there for some reason they're delaying when they're gonna get back to offers or there's something about it that that that just makes it not as valuable so all of these places here sorry all of these these kind of listings that I'm just kind of scrolling down the list here all of this other stuff that's beyond you know once I get to ten days on the market usually not that excited I will say though here on student that that this neighborhood is known for foundation issues this is another the reason why I always talk about its it's good to have a really good real estate agent in your court because they'll tell you these things okay so this neighborhoods known for foundation issues this is good though there's only one picture yes I like that hold on let me just make sure I'm not sharing any information that I'm gonna get in trouble for sharing doesn't look like it okay so okay let me just I'll just scroll to this and then I'll read this out okay no I think oh this is pretty much public info there we go okay so this says desirable location below college below college great area 3-bedroom 2bath hardwood floors throughout spacious living room with gas log fireplace okay blah blah blah okay so maybe it's dated but newer forty gallon water heater washer dryer included reverse osmosis okay I mean original kitchen and baths with classic 50's tile there you go so that's actually good to me this is something where I would actually check this and I would kind of keep this on my list so we didn't really find anything that I liked on the multifamily front the single-family front I've got a couple things that I want to check out and you know we'll do some comps on some of these and then you know I'll answer some questions here in the life but let's let's see what else so no pictures is a good thing let's just look at the map okay good so this is another good thing remember all about that location all about that location so this is not bad you know here's you getting busy road up here it's off the busier entrance road by one lot which is okay that's perfect so I'm you know okay with that location the location is pretty good I would definitely be checking for any kind of possible foundation issues in the area just based on prior experience now before I run any comps on anything I'm gonna do one more thing and I'm gonna go to loop net loop net is the place where you can find commercial property so you're gonna maybe look for multifamily your commercial or whatever this is off then you know another place I sort of just check in my regular searching for deals and there's really nothing new here as as usual but initially this place for 1.3 million dollars which sounds crazy stands out but they're telling me a six point one nine percent cap rate in Ventura which honestly you know the usual Catholic selling cap in Ventura is like three point five percent so that sounds really good the problem is I got this main street address and I'm pretty sure this building is not actually on Main Street so we have to find out where this particular parcel is and I believe having your this there it is so let's open up this parcel you can actually see it's down next to this mobile home park right here and it's below some more commercial property so this is where you start looking you go oh here it is okay so you got these five houses right here sandwiched behind enterprice truck rental next to the the mobile home park next to robert shirt a surf shop one on one school of trucking and windy nation so everything's commercial here that's why they're pulling a higher value it's you know long flag lot you're gonna have issues possibly with easements and having a tenant here it's gonna be a little bit more challenging unless they like being secluded like this it's a much more unique property and that's why it's probably selling at a discounted rate but it's not one that I'd be interested in because I'd rather go buy over here where everything is a much more homogeneous area you know if I just if I go over here and I drop a pin on oh I don't know let's drop a pin on South Brent Street here this to me is oh wow look this guy got his house blurred-out on Google Maps I get a much more kind of neighbor I mean look at this like I totally randomly drop the pin and look I got kids playing outside you know I got I got people out and about doing things I got people remodeling over here this is much more you know ideal like this is the kind of street I would be looking for duplexes on four-plex is on a triplex whatever because I've got something that's that's much more rentable something where people want to actually live for a longer period of time that's ideal for me now the last thing when it comes for shopping for deals is after I looked for deals I want to look at comps so let's just go ahead and do comps on student so let's see if student is a deal so we'll pick student to run comps so we know it's a 3 into we're gonna go search for the map you could do the same thing on Zillow by the way actually you know what I'll do just to show you that you can is I will do it on Zillow yeah there we go I'm watching my own last room they're going back too far okay so what was the address I have whatever I'll just find it here so it's gonna Ventura California okay and we're gonna zoom in to specifically that neighborhood the biggest mistake people make when they look at haribol sales is they start walking too far they they don't sort of respect staying within the boundaries of where the neighborhood is they're looking at sohere's students Street you can see the red pin is the neighborhood for sale and what I'm gonna do is I'm gonna go ahead and just draw my little boundaries here I don't want to go too far to any side because I really just want to stay close and we're gonna look at this $5.99 deal here it's 13:54 square feet and we know we have two bathrooms we're gonna go ahead and drop square footage down to 1500 as a cat for right now let's go ahead and see what we get here so I'll just make me a little bit bigger there for a moment okay so this is this is interesting first thing I see here is a sold on varsity for 540 that doesn't make me feel so good five actually we got two sales here for 540 so I'm gonna go ahead and see if I can open up these sales for 540 and oh these oh but look but look these are against Telegraph Road the busy road with the exception of that one for 540 that's interesting so now one merits investigating to see why did this property sell low even though it's not against the busy street and then yet we have a deal here for six hundred eighty thousand dollars and here's one for seven hundred thousand dollars so this is where we start seeing okay remodel comps are around seven hundred this place is listed for 590 how much remodeling would I have to do to this 599 deal and how cheaply can I get it in this place right here this isn't even highly remodel how cheaply can I get it to start pushing a value like 680 so that becomes the challenge and that's how you want to in my opinion hunt for real-estate deals the other one in Camarillo I'd that one let's just put it this way the other one in Camarillo I ran the comps on it I want you to do your homework on that other deal if you're really passionate about this well you join me in the investing course you know that but do your homework on that other deal we run the comps for yourself and see what you find on that other deal the student one has potential but look at that other let me know what you think about that I set it up for you all right folks there you have it that's all I'm gonna do for today I've been talking too much I can't believe it's already almost been 30 minutes I'll be back tomorrow so we will see you appreciate you all being here thank you so much for watching me look at properties and real estate which is what I like to do we'll see y'all later you
