How To Find Cash Buyers Using PropStream, OpenCorporates, and TruePeopleSearch | Cash Buyer Hack

what's going on everyone it's jake here so today i'm going to be showing you how you can find active fix and flip buyers in your market now how we want to do this is we're essentially going to be using prop stream and within prop stream we're going to be looking for companies who have recently completed a flip once we get the company's name we'll put it into open corporate so that way we can find the owner of the company and then from there we're going to take the owner's information and put it into true people search so that way we can get their phone number and we can reach out now true people search and open corporates are free but if you want to use prop stream you will need a subscription to do that now if you want to try this buyer hack out and you don't have a subscription to prop stream what i'll do for you is i'll put a link in the description below so that way you can sign up for a free seven-day trial and you can give this a shot for yourself all right so let's get started so let's say you get a property under contract and you want to find a buyer who has recently completed a flip in the nearby area now the reason that a buyer like this is so powerful is because if you know that they just recently completed and sold a project there's a pretty good chance that they're going to be looking to pick up another project and if you know their last flip was right down the street from the property you have under contract there's also a pretty good chance that there's going to be high interest in your property right so what we want to do is we want to take the address of the property we have under contract and we're going to plug it into this search bar here up at the top so for example purposes let's say i have 728 hamilton street northwest under contract we're going to open this property page here we're going to come over here to comparables and nearby listings scroll down we want to select mls and then we're going to click on amount two times so that it filters it from the highest to lowest now the reason i do this is because my i guess my theory is that all the properties that are priced higher are going to be um more likely to be a fix and flip and the properties that are priced lower are more likely to be homeowners selling or maybe an llc picking up a property as is and they haven't yet completed the flip so because we're looking for people who have recently completed the flip i like to look from highest to lowest so let's say we're looking at 5019 fifth street and we want to find out if this is a fix and flip property what we're going to do is we're going to hit details and it's going to open up the property page for that property itself now the first thing we want to look at from here is we want to come up here to last and prior sale date so if we look right here it looks like it was bought in february of 2020 and it was sold in september of 2020. now that's a very good indicator that this was a fix and flip property because of how short of a window that was owned now if this said february 2002 i would say this would not be a flip because it was owned for 18 years but in this case it was only owned for seven months we could probably click into pictures and see that it was a flip so i'm going to venture to say it's a flip now how we want to verify that it is a flip is we're going to scroll all the way down to the bottom here and you'll have this little tab right here that says buyer and seller information we're gonna look at seller one name and you're either gonna have a company name or you're gonna have a personal individual name if you have an individual's name this is not gonna be a flip and you're gonna wanna move on well i guess it could be a flip but probably not um if it's a company's name that's great that's what we're looking for so if you get a company name you're going to copy and paste and you're going to put it into open corporates so once you do that it's going to give you either one company no companies or a whole list of companies now if it gives you a whole list you're going to want to come over here and filter it out if it doesn't give you any list and it says no you know nothing matches you might want to tweak it so maybe take this out and then hit search or just move on right or in this case you know you only have one so it's pretty straightforward so we'll click into this property or excuse me this business and it's going to take us to the business page now the first thing we're going to look at is the directors and officers what i typically like to do is i like to look for a name that pops up multiple times so in this case we have michael ryder who pops up as the executing officer and as the organizer sometimes you might have their name as the agent name as well but that's always tricky because the registered agent could be a attorney it could be a law firm it could be legalzoom or it could be the uh the owner of the business right but for this example let's say we have michael ryder he pops up twice so there's a good indication that this is going to be the owner of the business so then from here what we want to do is we want to come up to a registered address and we're going to copy this address right here come over here to true people search click reverse address and we're going to put in the address of that registered address so we're going to put this address right here hit search and look at that we have michael j ryder michael rider so again we don't know for sure if this is the owner but there is a very good possibility that it is so what we would want to do is we'll click into michael rider and we have three phone numbers right here now what i would do was i would call all three of them and if you get a hold of them i would simply say hey michael my name is jacob i i noticed you recently completed a flip off of 5th street and i just wanted to give you a call to see if you were actively looking to buy in that area if he says yes awesome my man i have 728 hamilton street northwest under contract is that something you might be of interest in or however you want to carry it right however you want to position it but now you've got a hold of this guy you know he's an active buyer so you can position this deal to him or you can add them to your buyers list all right so let me show you another pretty cool way to do this so if we scroll down let's say we don't want to go through comparables there's also this tab right here that says flip comps if you click on that it's going to show us all of these flip comps in the nearby area now keep in mind that these are not always accurate i found sometimes it's just a homeowner who has sold the property a lot higher than what it was bought at and they considered a flip so how we can look at this is if we scroll over you can see all right it was purchased in 2021 2019 they bought it at 483 they sold it in 2020 of january of 2020 and they sold it at 790. so this is probably a pretty good indicator that this is a flip so again click into this hit details come over here we have last and uh last empire sale we got 2019 2019 another short window probably a flip right scroll down look at that seller one name hive development llc so let's copy and paste come up here copy and paste and boom look this is a perfect example of what i was talking about so in this case you have a bunch of different properties right now obviously we're not in california colorado connecticut we're in dc so we're going to click dc and it's going to give us the the the business right so we'll click into the business page and same situation so we see michael brooks two different times here so he's probably the owner of it so we're gonna take this address right here come up here put in the address northwest and we're going to be looking for michael brooks alright so in this case we don't have a michael brooks so what i would do in this case is probably just move on um if you want to really try to dig down and find this guy you can but i wouldn't waste my time so i'll just go to the next one right close out of this come back over here say we're going to be looking at 710 fairgood street click details all right look another window right here another very short window may to january so this is probably a flip scroll down boom we have ax capital llc so we're going to copy and paste put that right there again acts capital pops up click into this all right here's another good example we have the agent name is ace corporate services inc so this is clearly a company who is the registered agent but below this we have all of these different names right so we have two right here that are the same two right here that are the same and then we have five different or five that are the same right here so what i would venture to say is these since there's five different names this guy right here farshad that's probably the owner of the business so again what we want to do is we want to copy this come up here put this in i believe it said springfield and then let's just look so um raw shandle raw schandle so we have the right the right name here so we just gotta find the actual person farshad i don't think um it's the same person but maybe they're just misspelling it on here but let's just say for example purposes this is the person that we were going after so we would click into the name again we'd have their um phone number so we could give them a call let's say we have their tel or let's say it's a mobile number instead of a landline we could send them a text message saying the same thing so that's how i find active fix and flippers near deals that we have um hopefully this was helpful to you all i know i found a lot of solid buyers doing this again there's a very very good chance that these people are going to be looking to pick up another property because they just recently completed and sold their last project so hopefully this helps anyone um if you found this to be helpful make sure you hit the subscribe button and you leave a comment below and then yeah hopefully you guys have a wonderful night or day wherever you are and take care

Channel: Jacob Simpson REI

Views: 714

Rating: 5 out of 5

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Id: n5SED7OPnv8

Length: 11min 38sec (698 seconds)

Published: Wed Dec 02 2020