How to Hack Propstream for the BEST LISTS! | Wholesaling Real Estate

learn how to hack prop stream for your wholesale real estate business guys this is rick in with flip with rick and you know what to do hit that like button hit that subscribe button to receive more free content on how to elevate your wholesaling business so let's talk about it prop stream is an incredible tool that's come out that to be honest with you has really changed my business it's made it much more efficient much more easy to get the data and it's really been it's been a godsend to my business so i did this all before we did prop stream so the fundamentals still are the same just the software has changed so what i want to do is walk you through on prop stream and i've decided consciously not to do a screen share with you so you can focus on the fundamental principles go to listrei.com sign up for your free version basically you can use prop stream seven days free you can check it out but instead of doing a screen share tutorial which i believe everybody does i want to walk you through the fundamentals of how to use listrei.com so you can master your wholesaling business so you've got to understand what the mechanics of it is so your job as a wholesaler is basically twofold number one you have to locate motivated sellers on a very consistent and regular basis that's why i love using listrei.com it works very well it brings you in the prop stream and the first thing you're gonna do is locate the motivated seller so once you locate the motivated sellers and when i say motivated sellers we need to get really good deals because we're not in this to be realtors or do realtor commissions we need to find motivated sellers with meat on the bone meaning large profit deals and then after that we're just going to locate cash buyers which we're going to use listrei.com then we're going to locate cash buyers to buy these great smoking deals that you have harvested through listrei.com and guys that's really the fundamental principles of what we're doing inside a prop stream it's really important that you do not over complicate this so number one before you do anything you have to locate motivated sellers so let's walk through step by step the easiest way to use prop stream to locate these motivated sellers if you guys listen and pay attention remember i'm not doing a screen share i'm going to show you exactly what we use in our business 18 years going strong that will pretty much work in any market i do multiple virtual markets plus i do the entire south florida area i want to get you to get your deal to get your first deal get your second deal a third deal there's no point in going through a three-month course paying a guru five or ten grand when i'm just going to give you the information here i i'm literally going to share it with you so do me a favor get a pen and pad out let's pay attention and let's figure out how to dissect prop stream for your wholesaling business so we have to locate motivated sellers great rick how do i do it there's really two lists you want to rely on and at the end of the day i've talked to every guru who tossed across the entire country obviously i use it my business 18 years it all boils down to this okay you need to find the most motivated sellers how do i do that let's use prop stream go to listrei.com and the first one you're gonna pull up is high equity sellers so the really cool thing in prop stream is in your upper right hand box it already has the high equity list built in for you so all you need to do is identify your geographic area now i personally like to use zip codes because i can break it down so those of you that are on a budget what you want to do is start with a zip code a single zip code that's right because in the beginning when i didn't have a lot of money to market i had to make every lead count so if you're on a budget and you're just getting started it's important you understand and learn how to pull the mechanics out of prop stream to find motivated sellers so the high equity you're going to put in your zip code so you put it in your zip code and then you put in your state so if you're in florida you put in fl hit enter and you'll see numbers that pop up in your high equity now most likely it's going to be a big number so don't freak out about it but start with one zip code so you can identify what what your counts are meaning you know how many prospects you have a prospect is just somebody on your list once you have that then i want you to go ahead and click filter and there's some simple core filters that work in almost every mark by the way i'm not charging you for this this is actually this is free i don't know why people charge for this because to me this is like learning your alphabets you didn't pay to learn the alphabets you shouldn't pay to learn how to pull basic lists from prop stream so go into the filters and the first after you've identified your geographic area you want to set your equity percentage okay it's equity percentage so you'll see the percentage sign and i like to do 40 or higher that's just the sweet spot you can go now if i have too many people on that list do 50 or higher you can do 55 percent just don't ever in my opinion you're just starting out don't go below 40 because if let's face it if you need to get a 15 the 40 discount you've got to have some money in the deal to make it work that 40 percent says if they had a hundred thousand dollar mortgage basically they owe sixty thousand and they have forty thousand dollars in equity it took like people forever to explain that to me so i want you to understand that forty percent means that if they had a hundred thousand dollar asset a house they have forty thousand dollars in equity there's plenty of room to get a deal in there and still leave money for the seller that's why it works i've gone as low as 30 but it gets more challenging when you start doing that so if you need to filter that number down go up to 50 55 60 whatever it is so i always tell people work it backwards if you only have a thousand dollars through marketing or even 500 make sure if you have 2 000 prospects that they are the highest and best use motivated sellers because the most important thing is to get the deal under your belt so we've set the equity filter remember it's based on percentage 40 that alone would get you a ton of deals the next one i want you to do is the number of years the property zone i like to do five years or longer i don't want to be marketing the people that just bought the house the statistical odds of them having to sell within the first year or two are very very low so we're going to filter out in the old days we used to do 10 years or plus that doesn't really work in today's modern market five years is fine you can go as low as four if you don't have enough data and once again if you need to filter your data meaning you only have x amount of dollars and you can only say get 1500 prospects then take the five years to six years if you still need to filter it just keep upping the number and it will slim it down for you so the next thing you want to do is go under there's a section on there for market information i believe it's mls i don't know which one it is but you want to make sure you pick off market properties there's no point in wasting money marketing to people that their house is listed with a realtor it's just a waste of time i love prop stream for this it's an amazing filter it doesn't filter them all but for the most part it will knock off you know three to five percent of your list and save you additional marketing dollars plus let's face it do we want to be talking to people with the houses on the market no definitely not okay and then also what i want you to do is under ownership information you want to put you want to market for individual and trust a lot of individuals own their property and trust they do it for tax planning purposes those are fine i want you to exclude corporate owned properties because they're typically going to be owned by investors and that's not going to get you where you need to go so here's another great little tip i've learned that you can use within prop stream which is really cool the statistical odds of doing a deal with an individual that owns four or more single family homes is very very low that you're gonna get a good deal let's face it seasoned pro investors and the odds of you getting a really good deal at a big discount probably not gonna happen so in my 18 years experience very few deals have gone down when they own four more properties when they own two one two or three it's great i've done it with four i've never done somebody own more and four so if you have an area of like a lot of rentals i would exclude anyone who owns four or more units once again these people will waste your time and they'll try to use your pricing against you so that will save you a ton of time and money so the next one so that's high equity so really simple you want to use the equity filter 40 or higher five years or longer you want to make sure it's individual or trust and you want to exclude anyone that owns four or more properties because the odds of getting a deal are very slim how do i know that i have 18 years of data to support it and the last one is make sure the property is off market so right there alone is worth your time investment in this video and keep in mind i'm not charging you for this stuff i'm giving it to you because you know why i look at wholesaling like learning your abcs so you went to school they taught it to you nobody charged it to you should look at wholesaling the same way it's there's just too much information out there the key is getting it from information from people who actually do the business today so you guys know my primary income is from flipping properties rental properties an entire portfolio i've built on the base of this business and zach has joined me in this journey and it's so much fun and i love doing it so our second list we're going to do is the vacant list it's really simple it's right there in prop stream you can just click it now if you want to go in the vacant list and change some of the filters i would just make sure they're off-market properties i would make sure there's at least 35 40 equity in them but i love vacant properties i try not to put too many filters on them so you're probably asking where do they get this vacant information it's really simple it comes from the usps the united states postal service when the mailman comes by after a certain amount of weeks if it's vacant he'll put a label in there and start picking up the mail because they don't want to waste time and effort delivering mail because if the mailbox gets full they can't deliver it or the individual homeowner says do not mail their forward the mail to you know xyz so maybe they're in the process of moving so the one caveat with vacants is there is a lot of those properties on mls why i love prop stream is it helps you filter by no means is this list perfect it's actually far from perfect it's really good to establish a list now if you're a hustler and a grinder like when i started out is if i had access to this list because in the old days we just had to do driving for dollars i would get this list and possibly even do a driving for dollars some light door knocking these are really good lists remember it's a great place to start at i love the vacant list it's up to you in how you decide to implement these lists so it's you can mail to them you can do your sms campaigns you can use rvm just make sure it's legal in your state it's endless and how you can do this proposition this video is not about how to market to them it's about how to use prop stream so let's finish it off with the cash buyer so now we've you located your list of motivated sellers you pick your medium to market to them whatever it is that you're most confident by the way i forgot cold calling it's a wonderful one on this you just got to skip trace the list so the cash buyer is a really really simple part of this so now we have our motivated seller now your job is to match up the cash buyer remember you're looking for deals that have equity in them that have meat on the bone that you're solving a problem you are not a matchmaker you are not a realtor you do not want to play that game you will be miserable and you'll be out of the business in no time at all so cash buyer in your cash buyers list prop stream has a box just for cash buyers in the area and it's really simple obviously you want to use cash buyers in that geographic area that is critically important so i'm looking for people who paid all cash for a property and that are free and clear and honestly that's about the only filters you do on it so you can pull that list the next step you have to do is take it out of there is you want to skip trace the list you can pull that data and guys it's simply just going through the phone and calling the cash buyers i do not spend a lot of energy on it it's not really hard it's actually really really simple and your goal is to match the two up with very profitable deals i don't want you to do deals for three and four thousand dollars if you have to take it i'm fine with it but i find that the smaller the profit the more work you actually have to do i know that sounds crazy i swear to you it is the truth we just did a deal with a monster profit and there was work involved but it was well worth it then we just did a deal i think it was like six or seven thousand dollars and it was 10 times the work so zach told me with his acquisition guys everything it was 10 times the work so heed the warning guys let's find really great deals of motivated sellers with equity in them let's help them solve a problem and all you have to do is find the cash buyers guys just pick up the phone hey are you a cash buyer in this area um what are you looking for and then just vet them what you do not want on your list i'm just going to be brutally honest you do not want other wholesalers as your cash buyers so you have to vet them because let's face it there's a lot of people that buy the properties that some of them are wholesalers they might have cash partners or whatever it is i don't want you to create like the daisy chain hell and make sure you vet your cash buyers so let's recap real quick here's what i want you to do go to listrei.com go ahead and register for your free use and you can get in the prop stream seven seven free days so you can test it all out before you do it guys it's really cheap it's a really smart service and i could not run my wholesaling operations without it so what you're going to do is pull the to list you're going to pull you're going to go in there for motivated sellers you're going to pull the high equity list you're going to use the filters i recommend it to you if you missed it just go back and rewind in the video and it's all there in the beginning the second one is you want to pull your vacant properties it's really simple in that rewind this explain what you're looking for in those after you do that once you start marketing and you choose your marketing medium and then you want to pull your cash buyers list guys you're just looking for free and clear properties in your geographic area and what you need to do is pick up the phone and call them guys it's quality over quantity every time with cash buyers people who brag about how big their cash buyers list means they're not vetting them and that that's the difference and that's what i want to teach you so listen do me a favor hit that like button smash that subscribe button tell me what you think do you think prop stream has enabled you to become a ultra ninja marketer for uh pulling motivated sellers in cash buyers list or do you use prop stream or have you tried it guys go ahead and check it out listrei.com hit that subscribe button continue to receive free information on how to actually do your wholesaling business and learning from father-son team that's done this with over 18 years experience and i still do this today i absolutely love wholesaling and real estate it will change your life guys give it a shot i'll see you in the next video thanks

Channel: Flip With Rick

Views: 9,266

Rating: 4.9544806 out of 5

Keywords: wholesaling, wholesaling real estate, flip with rick, flipwithrick, propstream, best lists wholesaling, propstream wholesaling, listrei, propstream list pull, best propstream, top propstream, wholesaling houses, Propstream, comps, real estate mentor, Best List to Use Propstream, wholesale real estate, propstream tutorial, propstream cash buyers, propstream pre foreclosure, propstream list, marketing wholesaling real estate, Realestateinvestingtools, BIggerpockets, Realestate, rick ginn

Id: CA1XfIoJL_8

Length: 16min 33sec (993 seconds)

Published: Mon May 03 2021