Demo Link – http://bit.ly/2Qpzj92
All right, hey, simple passive cash flow listeners. Today we are going to be doing a demo of real flow, a tool that I’ve been kind of playing around with lately to do a bit of research.
I got introduced to this tool through my mastermind. And I know I am just scratching the surface on this tool. So I brought on Jenna who’s gonna help me demo it. She she’s been using it for quite a bit. And
yeah, I’m sure I’m just using this, like, really, really basic options on this thing. So thanks for jumping on Jenna. Mean, thanks for having me. Yeah. So um, once you give people a little bit background and you know, you’re you’re not a salesperson, you’re an investor yourself. And, you know, you’re a little bit more active investor than the most of us so I think you’re kind of the perfect person to
to kind of show us around on this thing, but yeah, maybe give the folks a little context on kind of what you’re up to today, personally. Yeah. Well, thanks for having me on here. My name is Jenna Hoover. I’m an investor in southwestern Pennsylvania. I’ve been doing real estate for about seven years. And my background wasn’t even in real estate. I did medical sales for about seven years before that, but I just always had that drive in the desire to get into the real estate market. So I started a start up flipping out flipping properties. And then I started getting into passive income with, we have 21 rental units that we have right now in our inventory, and we’re always looking to acquire more properties. We still are actively flipping properties, and I’m also a licensed real estate agent in the Pennsylvania area. So ever since I got into real estate, we’ve really leveraged real flow to help us with our business. So we use it it’s kind of like you know, I’d like to be you know, silly when I say it, but it’s like my ninja command center. I’m able to
Put all my property leads within my my database, I’m able to compile all my list of agents, my contractors, buyers, sellers, everyone that I’m going to encounter on a daily basis. And then what I can do is I can create autoresponders via email, I can do different type of, you know, I can call them I can, you know, different do different texting. And it just helps us a lot we’re able to put in a property and what it was, what it does is it pulls all the information from your tax site. So I’m able to see who owns the property. If it’s not somebody who’s actively living there, I can see what is their mailing address. So if I see an abandoned house, and I’m driving around and I and I jot down the address, I can see who owns it and where does that that particular person living so I can send that particular person a letter or a postcard, so I have a way to get ahold of them. It will also show me how much they bought it for. It shows me if they’re delinquent on their mortgage, it shows me who their mortgage was with how
They paid for it with the loan was. So it’s going to give me a lot of information as well as cool. A lot of the property specs like the bedrooms, the bath, what’s the square footage? Tell me what type of roof does it have. So it’s going to give me a lot of information than if, you know, if you’re just somebody just walking past the house, it just would be a lot, a lot more difficult for you to try to find this information. And if anybody starting out in real estate, and they don’t have a lot of knowledge, and this is a great tool when it comes to if if I’m somebody who is potentially an investor and I want to invest in somebody’s property, it has a lot of great tools like where it will help me estimate the repairs. So if I’m gonna say that I say that I’m a real estate investor right now and I tell my private lenders, I say, hey, this house, I’m going to buy it for 50,000 It will take about 50,000 and fix it and I’ll be able to sell it for about $150,000 Well, if I’m you know, a private lender that has no idea about real estate, no idea what it costs to fix things. I can go on here and am I
Have a few clicks, I can verify exactly how much it should cost to the penny of how much to renovate this particular property. So that we what we do is we do the repair estimate. So it will show how much will it cost to do the roof? How much will it cost to do, you know, put a new kitchen in all the way down to every component of that particular property? And then we haven’t I’m sorry, go ahead. I was just gonna say like, you know, so basically, folks, this thing is like a very powerful tour tool that aggregates a lot of information. If it weren’t for this, you would have to go dig it up at the courthouse and all the county records, right.
Yeah, and then it has a deal analyzer. So once I know how much will it cost for me to buy it? How much can I sell it for? I know how much it will cost for me to fix it. It will tell me exactly what my holding costs will be. It will tell me how much money I’ll make. It will show my private investors how much money that they’ll make on on their investment. And so it’s just a good tool for us to be able to really look at our property, look at it and look at our deal and analyze if it’s
deal worth moving forward on. And then you can do different things where you can, you know, blast it out to your buyers list. Once that property’s finished, you can manage your repairs, you can track your expenses. So there’s a lot of different tools. And as well, as you know, we’ll talk a little bit about some of the lead lists that we have available within real flow as well. Yeah, so most of the audience here are high paid investors. A lot of a lot of the tools in here are more for the active investors. It’s a lot of hard work. But I was thinking maybe we pick up a few of functions. And here are a few scenarios that you see for the more of the passive investors, the guys who are being the private money lenders, you know, not necessarily sending out postcards or finding lists of investors via this tool, but
I mean, the first one that kind of comes to mind is like, Alright, I’m, you know, driving around and I see an abandoned house. I’m, you know, looking for something to do because I’m bored.
I got a bunch of money. Um, let me do some research on this house. So how do we, what’s the first we’re going to kind of go about doing that. So at the top, towards the right of your screen, you’ll see a plus sign, there’s a circle and a plus sign. So you click on that and you’d select property. So that’s where you would get your list here. So you start start to type in an address so you can just you know, make up any address type something in there. 12313 not even a real address. Um, you know, you want to make sure it’s at least something just type in 83
and see if this union start typing u n for the just type for a city so do a space and then say u n i n
Okay, so do the bottom one Uniontown
and then hit save. So this is just a property that I’d looked at for one of my buyers that I’m working with. So what it will do is it pulls information from the tax site so I can see exactly who owns that particular property. I can see what year it was built, I can see it was a three bedroom, one and a half bath house. If you go in towards the center, your screen where it says public info.
It’s like a, one of the drop down type of click down a little tiny bit to the right. Right, right, right. Right more right there. So click on that. And then if you scroll to the bottom, so show you kind of you know, they think it’s somewhere around worth about 133,000. So if you scroll down a little bit more. So would this be better than like, would it match like the Zillow number would or would it be a better stronger Zillow estimate?
I mean, as far as Zillow does estimate, I mean, that’s just it’s really difficult for me to really trust the
You know, the Zillow zestimate. But as far as the, when you look at when you scroll up a little bit where it said like 133,000, that would just be kind of like real flows estimate on what that property is worth, which is very, which is very comparable because I think it was listed at right now around like 127 or $125,000. House, they they’re just dropping the price on it. But if you scroll all the way to the bottom, if there was a mortgage on that property, we would see it right there. So we can see that there most likely is not a mortgage. So that to me tells me that that property is owned free and clear. So what our goal here is just to be able to see as much information as possible on this particular property. Now one of the things if you look over to your left where it says market and it says power matching, what’s this a Wm
that’s kind of like the value of what the house will when it should sell for. Okay, so what why is there a difference between the market value in that
point, if it needed any work that would go into it. So if you know as far as if it was, you know, written maybe renovated a little bit more, it would sell for a little bit more, as far as like what the quality of it is right now, which is pretty comparable because the house is outdated. Okay, but it doesn’t, how does it determine that it’s like 80% of this or, you know, how does, what inputs does it bring in to come up with this value? I’m not sure if it like utilizes like the age of the neighborhood or the age of the house or it’s assuming what type of fixtures are probably in it based on the age of the, you know, the suburbs are in the area. So, so a lazy house flipper will probably go in here. They’ll try and get it under this value, and figure out what the rehab budget is going to be through a walk through and kind of use this as their top end that absolutely, that would be the goal. So if you’re want to be a lazy, rehabber, or lazy and
bester so if you go over to the left where it says market and then underneath market it says power matching. So if you click on that most likely nothing will come up. And so if you click on where it says community buyers
okay so what this is, this is saying if you were to have people in your in your buyers list so say that you input different people that their Buying Criteria as Uniontown, Pennsylvania that look for a three bedroom one and a half bath house. If you put anybody in your own database, you would see them under my buyers. But the fact that you didn’t have any buyers in Uniontown, which is you know, we were expecting that. But what it also does, then if I click if I click on the community buyers, it scrubs through all the real flow users, all 35,000 real flow users and it sees who’s Buying Criteria matches that. So if we were to click on this person, Mr. Say that we got this lead for 83 Brown Street. What we can do is we can send a message to this Mr. Three days whoever is an investor and we can potential
wholesale this deal to that person because we know that their Buying Criteria matches the same information on this house. So if you click on that, it will pull up a, you know, an automated message that you’d be able to send. So you can click on Send Message. And so you know, it would already have information, you know, you’d have to do is hit send, if you’d want. So it already creates a nice document for you that has information on that property. So you can go in there here and really like spy on all these people and see what they’re what’s going on with the owners then. Yeah, so it will show you you know how much they bought it for if they’ve been delinquent on anything.
I will show you in a mailing address. If they’re not if it’s not owner occupied house.
Is there skip tracing available in real flow at this time? I think that there if there isn’t, there’s on their way. So I think that they’ve been trialing some skip tracing. So
I think that it’s either already available or it should be very soon. Because I know that they were doing some,
some trialing with it.
Any other situations? It’s kind of back out here. You can just click on the real flow button at the top left. Yeah. So that that would be in the situation where you saw a house that you wanted to buy. For a lot of passive investors probably use this tool to go look for your own primary residence. You know, I mean, if you’re gonna buy a one $2 million house, miles, we get a good deal on. spend a little time doing a little research. Yeah.
so you’re asking like, what else can you potentially do? Do you want to talk about some of the leads or do you want it?
I mean, the nice thing if you’re somebody who’s potentially looking to do any sort of like lending or investing in somebody else’s world
Real estate transactions, this would help you to make sure that you know what that property will sell for. I mean, I can sit here and say, Hey, Mr. or Mrs. private lender, I have this house and this is what I’m buying it for. And this is what it will sell for. And this is what it will cost to fix it. But if I don’t have any real estate experience, I would want to go on here and I would want to find out this information on this property myself I want to see is that who really owns the property I want to see how much does it cost for me to renovate that particular part of property? How much can I sell it for? Can I pull comps from within real flow? Yeah, let’s do it. Like, let’s do that scenario where like, okay, so our passive investor is getting pitched on a deal to come in as a lender. Click on click on that 83 Brown street that you already have there towards the right.
Because they’re saved now in your database. And so if you go to your left under analyze, you’ll see repair estimator
So if you click on it just hit Create. And so it already knows the square footage of the property just from it pulling it from the tax site, or it should, or I guess it didn’t pull it from the tax site. So you can just put in like 2000 square feet, I think is about what it is, and then hit Create.
And so what this will do is this gives us the ability to see exactly how much it will cost to renovate this property. Now, these numbers are a national average because somebody may say, Oh, well, it will cost me more than that to do the roof or it doesn’t cost me that much to do the tile. It’s just a national average. And our goal is to look at our overall big picture number. And it includes if you live in California or Hawaii, you better to x or three x.
No, you don’t have to because like what I found is it’s I look at the overall big picture number. Like if I were to look at me versus California. It cost me a little bit.
A little bit more to do a roof but my tiling is cheaper. My Kitchen
are cheaper, but it cost me more to paint. So when I look at this may be more, but this is less, this may be more, but that’s less. So when I look, if I’m somebody that has no real estate experience, it’s going to help me just to get an overall big picture number. So if I click on roof right there, it’s going to tell me it that it’s going to cost about $4 a square foot to redo that roof, which is the total of $8,000. And then you’ll go down through I mean, you can see if I have, you know, some windows I needed to replace and you can change the number like if you look where it says $250 for that window, if you say you know, I know for a fact my windows are $300 to do you can delete that out and change it to $300 just to give you a more exact idea. So you can say you know, here’s your fence, you can you know so and like I said everything is labor and material. And when you look at something like the kitchen or the bathroom, when you look at the overall if you go up or you’re selecting it kind of ala carte, but
You can do like, Okay,
if you scroll down a little bit back to where you’re at the bathroom,
they have like bathroom packages where it would just say, a half bath, a full bath or a master bath. And it’s just a one, two. So if you go right there, yeah. So that way and that will include everything that is involving that bathroom, it will include the the tub, the vanity, the mirror, the lights, the switches, everything except for the walls and the floor. So I mean, it will include all the plumbing that would go into that particular room. So you know, so once you would select all that information, then you would just click save at the bottom. And so we would know it’s going to cost us $21,100 to renovate this property. Now what you can do is if you go to the top where it says generate documents in blue, the blue box, it makes a really nice PDF. So these are the exact documents that I provide my private investors or my lenders whenever I have a deal that I’m presenting
To them, so I’ll give them the specs on the property. I’m going to tell them exactly to the dollar, how much it will cost for me to fix it. And then I include pictures of that property. We do like four pictures of each room and the ceiling so they can walk through and they can say, Yes, I from looking at these exterior fixtures. I agree that does need a new roof. Okay, yes, it does need for Windows. Okay, it does need a fence. And so they can look and say, Yes, I feel very confident that this $21,100 that you’re asking me for is is you know, matches exactly what you know what I’m seeing here. And then you know, you can pull columns from within real flow, so then you can include a comp report. So if you so yeah, you were just at the comps there. So we scroll down.
So it will give us an idea of what some of the other properties are selling for in the area.
And so you know, you can do you know, you can build a report and provide that to your investors as well so that they can verify so I mean, and you can change them yourself.
Your criteria may be pulling you know, things that be useful for like double checking your broker or your real estate agent just to keep them honest to just do a little bit of research for your own
knowing yeah and like you said you buy properties that aren’t necessarily where you’re personally living so it’s good that you’re able to kind of virtually double check that you’re buying something that is exactly what you feel that it that you’re being sold on.
And this pulls it from the MLS in that area. So it may not even be just the MLS it’s gonna pull it from every sold property so some may be on the MLS somebody may have been a for sale by owner so it will be based on you know what has sold in the area, not just the MLS okay.
So yeah, I mean, this thing spits up pretty nice polished documents. So you know, just because a house flipper gives you this stuff and it looks pretty polish. As you can see
Monkey can press on click some buttons and sliders and kind of spit out a document. So yeah, now you guys know how it’s been. Now it’s made.
And it’s a great way to check it to anything.
anything else on this screen for the passive investor to use. Now, if you go back under the Analyze area and click on deal analyzer,
this is another tool. So just go to create new analysis, and we’ll just like breeze through this real quick go to the multi page.
And then hit Create. And so what we’ll do is this is where we’re just going to tell it how much we’re going to make. So go to the buy and flip on the left and hit next.
And so let’s just say where it says the buy price, let’s just pretend that we’re going to buy it for you can say $50,000.
So we’re just gonna say 50,000. We can scroll down
It says the fixed amount, just click that button. So it slides over, and then just put in zero. So we’re just going to assume we’re just not putting any, you know, any 20% down, we’re just going to put zero for right now just to be quick and then hit next.
And so this is where it’s saying, hey, how much would it cost to fix it? Well, if you don’t remember what that number was, just click right there. You see it saved your information and hit
it. We go backwards. All right. I think you. I think it’s the left. Yeah. Yeah. Okay, so then, you know, as far as the taxes are concerned, I mean, you can just put in like $100 a month or $200 a month. I mean, the taxes in Pennsylvania aren’t excessive here. And so then you can just go to next. And so here’s where if you look at the top, towards the middle where it says the sale price, so let’s just put in, you know, $133,000 or whatever the number, you know, 130 is fine.
And so if we and then so you can hit download the top one or the top or the middle one is fine. And then and then
if you see right here so this is like this really pretty document this is also what I provide for my lenders where it says I’m buying it for 50 I’m putting 21 one into it, I’m going to sell it for 130,000 my profit is going to be $44,790 and it will show me my holding costs it will show me like what how much my closing costs would be and again, you would spend a few more minutes on making sure you put the right taxes and the right utilities but it will populate what gas you know what electric all those fees what they should be, but it shows them okay, I feel pretty confident looking at this for 180% return on investment if our you know if it was you know, me buying this particular property. It’s pretty legit. Yeah, but I mean, it’s quick and like I’m terrible at putting together a document like that and it just does it for you by a couple clicks. Yeah. And it
If you go to the second one click on download on the in the middle one
and this is like for the people that are like the analyticals in the room that like really love numbers, this is the same thing but just more hot you know higher level
or table format. Yeah
but so those are just some of the key features so if you’re somebody wanting to double check making sure that you know your investment is properly protected. Things like that will help you help ensure that you know what it will cost because a lot of times somebody may say oh cost me you know X amount of money I want to see why I want to see how you know, it gives me the assurance I know exactly what it will cost to do a roof because here’s these tools that I have available.
So all these other ones they they appear like they’re more for wholesalers and house flippers
or more if you’re like actually doing the renovation like where it says manage, you know, you can upload documents almost like on a Dropbox type of a
Have a level you know where you can upload things seller script This is where if I were to get a phone call lead hey I want to sell my house it this is a script that helps me run through on how to interview that person so I’m getting a lot of information from them correctly. So I know you know what to ask them so I’m able to analyze as best as I can from my computer without having to go look at every single lead expenses Is it like where I can track all my expenses maintenance, so it just helps me be a better investor, if I’m utilizing a lot of those tools will track how much our contractor bids are you can upload
photos and videos so that you’re able to track the progress along if you have a multi team company. Or if you’re doing like a remote or you can give somebody else access to they can upload Yeah, yeah. So you can share this link, you know, this property link with another person and you guys can communicate between this link which you know for this particular property
the support market
The power matching This is where we were able to see, you know, who’s Buying Criteria matches ours. Okay, yeah. Okay, I think we got everything in that tab.
And that was the Analyze tab right here believe. Mm hmm. On each on the particular property. Um, anything else to kind of show passives
Oh, I was gonna we’re gonna talk a little bit about the artificial intelligence whenever Yeah, yeah. Okay. Okay. So if you go into the lead pipes premium on the left,
right, they’re going to go to property leads
or go back to property leads not people leads which is you can still people leads are still great to
property leads. And I’m not sure they they apparently have this feature turned on for you too. But um,
Do is like up a little bit where it says where
I have a search right here. We can use that.
I was trying to use this to find like $2 million buildings and above like to get like the multi families. Okay, but the but the multi families, I found that they’re not all on here, right? I mean it’s most of this that’s true is mostly for,
20 units or less. I feel like yeah, I’m not sure if you have the AI feature turned on because it’s usually based on like territory. Do you know if they’ve turned that on for you? I don’t think so. Do you want do you want to view my screen? Yeah, yeah, yeah, I can share that. To take control over you can share your screen
Okay, you see my screen Okay.
Let’s hold on.
So let’s see.
All right, let me just merge this. Are you seeing it looks okay to you? Yeah. Okay. So if I go into a particular area so this is where I’m from. I’m looking at their desktop right now. I think you had to show them.
Let’s see here.
Did not you said it’s not showing my screen. Yeah, I see it the desktop but not not the
click the Share button, ai feature enabled. What it will do is it will have three different scores.
For each of these properties it will have
they will have like a wholesale score, a retail score and it will have like a rental type of score and it will just give you like when I say it will have a score it has like a, they call it like a sell ability index anything from you know, zero all the way to 1000 1000 being obviously better. And so what that number means is what is how likely is this property going to sell and there’s a lot of components that will that will go into it. Now it uses artificial intelligence, artificial technology and so what it will do is it will figure it will say things like, you know, we know that people in Ohio that have a house that’s 80 years or older is has a higher likelihood to be sold to an investor or we know properties in Florida that have a screened in porch have a certain percentage more likely to be sold or you know may sell for a higher amount. And so what it will do is it will you know, you can put into
different parameters have a particular property. So you can say, I want to look for properties that are absentee owners. So if you go back, so if you go to
so you have Huntsville Alabama selected. And so if you go to where it says, All lead type at the top middle,
so you can click on that and you can focus on all these different type of criteria so you can focus on, you know, absentee owners, this is like one of my favorite ones. So this is and then you can combine them. So also on that same list, if you see towards the bottom where it says
wait here, you’re typing something there
where it says the absentee owners back where you selected that I also like to do like vacancy. So I want a word like towards the bottom. So this means there’s a house that somebody owns that they’re not person living in and it’s sitting vacant. So that person
has a higher likelihood that they’re going to want to sell this particular property. So when I look at, you know, all the different leads that come around, so many of you want to uncheck it like you don’t have to, you know, pick that exact parameter. Now, if I had the AI feature on it would give me the scalability index. And so what I typically do is I select all three of the categories that have a score of 500 or higher. So what I do is I look at my area, I say the all these houses are sitting there vacant, the owner is not living in them, and they have a high likelihood that they’re going to sell to me. And so you know, whenever we send these out, like we just did a campaign where we had, we sent out 54 postcards, so we had 54 people that was on our list, and it was just a small list just because I wanted to test and track it in a particular area. So out of all 54 of those 13 calls back from that campaign. And out of all 13 of those leads, I had about seven decent properties after I evaluated them virtually and we went and looked at a few of them.
And we ended up purchasing one of them as a, as a rental property and I bought it subject to the existing mortgage. So my mortgage payment that is still under the previous owners name, we never took it out of her name. So I have a deed to the property. And it’s $300. And I rent it for 600. So I mean, it’s not a huge profit, but I’m making $300 a month for having the mortgage in somebody else’s name. And I just took over the the payments on it. So it’s already, you know, halfway into their 30 year term, I think I have 14 years left on it, if I wanted to continue, you know, if I don’t want to pay it off sooner. So just from doing this campaign, just real simple, you know, making 300 extra dollars just from one time I send it out, and I think it costs me like $80 to do this campaign.
And so so for a lot of you guys who don’t know what the wholesaler flipper world is, you know, there’s all these different
attributes that they’ve kind of compiled for you guys
Based on county records based on like a plethora of different records out there, and the AI thing that is not here, I guess it’s saying there’s like a score attached, because part of this is like, this is the this is the art to this as much as the science, but the AI kind of gives a score. So if you’re a lazy investor, it just go off to the higher numbers, right? Yeah, and all that all that the AI score does is it just helps weed out some of them. I like to say it like sifts them out. So there’s not going to be anybody on this list here that I would have in mind that you don’t, it’s just you may have to send out 200 letters, versus I may only send out EDI, so it just sent you just wouldn’t pay a little bit more by having you know, they kind of like saying like, you know, throwing something at the wall. It’s just like, you’re having to reach more people to get the same effect. Whereas mine, if I have the AI feature turned on then it just helps me figure out with a lot of the artificial intelligence which of those people
Have a higher likelihood to sell to me. So it just kind of fast forwards my process a little bit more. Right.
So, I know a lot of you guys might be using this stuff buy your 1 million $2 million house. Maybe not what I would probably do is look for absentee owners free and clear.
You can do it yeah, you can do one at a time or combine them like you are. Oh, I guess yeah, yeah, I probably some of these are are like upside down wouldn’t be free and clear. So that’d be I see what you’re saying. But some of them are good to combine because you just really get highly targeted on who your list is. Zombie properties. These are the ones that like the grass is not cut or the male is kind of coming back. Yes, it and it will tell you know, because that’s like a new feature that they’ve recently put on there. What what how they consider
You know, each of these different categories?
How does a real flow get a lot of these? Like, we’re because you guys have to pay a lot of money to get the list, right? Yeah, yeah. So they they purchase these lists from a third party that they’ve, you know, vetted very thoroughly. How long are they updated? Like, if I wanted a cash buyer list?
How long would I need to run it on my site to kind of stay on top of things? I think it’s weekly that they they change things like
that they get the new information.
And so a little bit selfish question here. So I try to I’m looking at Huntsville for units 50 and over, but there’s not really a good way of finding zeroing in that. So what I kind of was looking for was like $2 million properties and above
Okay, but is is this tool just not the right one that I should be using for multifamily like larger apartment? No, it should be for
it should help you with that.
Because I’ve got the years Bill 1950 to 1990.
We’ll throw that 2000
then just $2 million. Let me go through a million.
It’s not giving me too much stuff here. Do you still have all those other things selected? I’m just cash buyer. So I took off all the lead types. And I’m just kidding, maybe five properties here.
That I have this all selected.
Okay, order types. Yeah. So that’s all open.
I’m not sure I can find out for you. And yeah, I mean, I was just thinking maybe the tools have made for multifamily, like, you know, LLCs and commercial stuff. But yeah, single family. I mean, it’s this is the thing to use my opinion. Mm hmm.
But um, yeah, I mean, anything else, you think for pastors to kind of take a look at?
I mean, there’s just there’s a lot of great tools. It’s just once you get in there and start seeing what you have available, you can start leveraging because it all like you said, is all dependent upon what your niches like if you’re a real estate agent. If you’re a private investor, if you’re an active investor, if it all depends on you know what, there’s, there’s just so many different things for so many different people. Right, right.
So um, we’ll have to prep this
For you guys that kind of watch over if there was something that you wanted to key in on
there I’ll have a little tutorial on school passive cash flow calm slash Rios was where I’ll think I’ll put it so slash real will be the info link on that and
if you guys are looking to use my referral link there, and thanks for Thanks for helping us haha for sure yeah, my pleasure. Thanks for having me on there. All right, well see you guys next time.