Is now the right time to invest in a Foreclosure Deal?

In this episode, Donny Coram explores the topic of investing in foreclosure deals amidst the massive changes in the real estate market. He shares his perspective on mindset, advising listeners to do the opposite of what others are doing, and to stop taking advice from people who haven't made a lot of money in real estate. Donny also discusses tactics for success, emphasizing the importance of deciding to do something different and taking action. He introduces the powerful tool, Privy, for finding completed investor deals. Despite the changes in the market, the ability to do deals has not diminished, and Donny explains how to buy better and sell for less than 3rd quarter numbers while using accurate 4th quarter numbers. Don't miss this episode if you're interested in investing in foreclosure deals and want to learn how to navigate the current real estate market.

Article Link: New Bill Seeks To Limit How Many Houses Investors and Hedge Funds Can Purchase

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Transcript

0:02

Welcome to the Foreclosure Deals Coach Podcast. The real estate market is shifting. The time is now. The Foreclosure Deals Coach Podcast is your home for the mindset, tactics and tools needed to break through your limiting beliefs and find freedom by investing in foreclosure deals. Don't buy a house, buy a deal. You need to get into this right now. And now your host, the Foreclosure Deals coach, Donnie Coram. Hello? Hello? Hello? Hello, this is Donnie Coram. Go Foreclosure deals coach and welcome. To the Foreclosure Deals Coach Podcast. Hey, listen, if you so happy you guys tune into the show, don't forget to slam that subscribe button. Make sure you're getting updates all the time. Join my Facebook group, the Foreclosure Deals Coach Group on Facebook. The links will be below right here in this video. And of course, get your free copy of the Hidden Foreclosure. Ebook is gonna show you all the great sources that I use to find deals right here in my local market and how you can do the same With that, let's get to it. An incredible week in the real estate investing market, uh, this week. Lots of stuff happening and obviously, you know when things are changing rapidly. You're gonna get a bunch of fear wandering through the market. So I'm getting conversations with coaching client potentials. I'm having conversations via email and I wanna thank you guys for all the interactions. It's, it's nice to see the engagement out there, but one of the overarching themes that we've been dealing with has been, and. Makes sense because I understand the concern, but one of the things I've been asked a lot is with the massive changes in the real estate market that we're dealing with right now, is now a good time to invest in a foreclosure deal? Now listen, I understand why that question's being asked. Obviously you've got the big media. Okay. Out there pro just proliferating the idea that the real estate market is in a tailspin. Okay. I, I remember saying years ago, okay, when the press starts saying the market is bad, that means the market's been bad for about. Six to eight months. Okay? They're usually way behind on what's actually happening. So you are now listening to what I call lagging indicator data. Remember, the market's running get the information on the market is six to nine months old at any given moment. Why is that? Because what's sold? In the fourth quarter was disastrous, right? There's, there's no argument that there were some problems. We're gonna dive deeper into this and I really wanna cover that, but I understand that is now the right time to get in. We're gonna talk about it more and bring that question back up, but the answer is yes. Let's get to why. Before doing so though, it's important to make sure you get your mind right. Okay, so let's put, let's look at our quote of the week right now so you can kind of see where, where we're at on mindset. And here we go. Mr. Warren Buffett. Now one of my favorite investors, arguably one of the richest investors in the market period, and gives his little secret little tidbit of secret as to if you're gonna get rich on Wall Street. Now, I think this kind of applies to everything, but obviously he's a Wall Street investor, so he brought this in. But you need to be greedy or try to be greedy when others are fearful, and yet try to be fearful. When others are greedy. Now this makes sense, but let's hear it from Warren himself a little bit. Check this out. If you have a temperament that when others are fearful, you're gonna get scared yourself, you know you are not gonna make a lot of money insecurities over time at all probability and think how much more rational investing in a farm is than the way many people buy stocks and. If you buy a farm, do you get a quote next week? Do you get a quote next month? If you buy an apartment house, do you get a quote next week or month? No. You look at the apartment house or the farm and you say, I expected it to produce so many bushels of soybeans and corn, and if it does that, it meets my expectations. But they buy a stock and they think of it goes up, it's wonderful. And if it goes down, it's bad. We think just the opposite if they didn't look at quotations, but of course the whole world is urging them to look at quotations and more than that, do something based on small changes in quotations. All right, so how does this apply to the real estate market overall? How, how, what, what Warren is saying, and let me just take this off screen so you can see me a little better here. What Warren is saying is everybody's being fearful in the real estate market right now. Interest rates are high days on markets going up. There's a lot of fear in there, but when what he's saying is when you need to be greedy, when people are fearful, the market is going down in value. Another thing that he mentioned in. Is that you're watching the quotes. In this case we're watching the values of property, the sole price of property, right? And you're thinking, oh my gosh, it's bad property values were going down. Is it though? Or is this the opportunity of a century? What we're not seeing yet, and it's important to note not seeing it yet, is that a bunch of foreclosures are coming on the market and investors are scooping those bad boys up. Okay? And that's where we want to get into that. That area is now a good time to buy a foreclosure deal. I'm gonna argue that it's, there's never been a better time to buy a foreclosure deal than there are right now. For one thing, there are foreclosures available, and think about how long it's been since that's been the. You weren't able to find deals in this market at all in the past couple of years. Now there are opportunities not only going on the market, but staying on the market for a while. Okay? So I need to get your mindset right here a little bit. You've got to understand that if the market is shifting, then to get out in front of that shift, you wanna make certain that your capitalizing on what's going on. Let's punch that point in a little bit more. Okay? I wanna show you. I'm just gonna share an art, our article of the week here, and obviously we're gonna post this article into the notes below. So if you wanna read this for your own, check it out. But this article is going to show you a new bill that seeks to limit how many houses and hedge funds can even purchase. So the government is now showing up, okay? And they are saying, man, these investors, Are getting, are making way too much money for our comfort level right now. Okay? We've got to do something about this. They're talking about limiting the amount of homes that investors can buy. Now this goes against everything that Capitalism Cheat Talk teaches, okay? But in one part of this, they're talking about, let's check the, don't, don't take my word for it. Check out the article in here, uh, from a, a local real estate investor that goes into this in more detail. Check this. Okay, so we gotta talk guys. Um, there's some headlines that are out that are very, very concerning. Number one, there is a bill going to senate aim to limit the number of investment properties that the Wall Street investors can purchase. Now this can be a good thing because. Over the last decade, wall Street investors have purchased one to two out of every seven single family homes. This has edged out the ability for the average family to compete and purchase a home. But the other thing is it can edge out the potential of people who have built their wealth on real estate to be able to own investment properties. So we need that bill to be further. The other thing, here's another headline. Chase Bank aims to buy 1 billion worth of single family homes in Atlanta. They're already starting it. They're not planning to sell them. They're planning to rent them guys, do you see the writing on the wall sound off? Are you hearing this? Do you understand what, what this means? See what, one thing that she just said, which I think was super pressing, is that it's gonna limit the Wall Street investors. If this bill wants to pass, it's gonna limit the Wall Street investors. The government's now taking note of some of the most lucrative areas of investment space that are going. We need to stop these guys before they get richer, okay? Chase Bank, one of your major players, is now saying, we're gonna spend a billion dollars. On distressed real estate in Atlanta. We're not talking about nationally a billion dollars in one city alone. And the question we wanna ask again is, is this a good idea to invest in real estate when you've got all these other guys jumping into the game? Guys, the the bottom line is absolutely, positively yes. Okay. But if you're taking your investment cues from your Uncle Bob, Who rebuilds transmissions for a living. It's probably not the best idea for you to be getting your investment advice from Uncle Bob. I love Uncle Bob. I appreciate that you have family and friends who are looking out for you right now. Okay. I appreciate that you've, you've shared this interest in real estate investing with them and outta your best interest. They're saying, well, I don't know. If this is a good time for us to get involved in something like that, I understand and wanna validate that concern. But the reality is, if you're getting into the market as a pure rookie, they're a hundred percent right. If you're jumping into this market as somebody who's never done a real estate investment deal today, the probability you getting slaughtered financially is higher than it's been in a very long time. See, the market was basically idiot proof in the past two to three years. Okay? You could buy a house to a moderate remodel, sell it on the open market, and have very little to worry about on the in. Okay. However, the way the market is moving now, that is no longer the case. You now have to have some degree of skillset in order to operate in this marketplace. If you're a mutual fund trader, right? If you, if you have all of your portfolio and mutual funds, now is the time to hand it to your mutual fund managers and let them do what they do, cuz they're a. Okay. Because if you're gonna try to day trade the market in a very choppy market like it is right now, you're setting yourself up for slot. That also applies to day trading houses. Is that not what we're doing here? Right. We're buying houses with the speculation to some degree based on absolute data, though, we're gonna sell the house in 90 days or so. Okay. But what Warren was saying in that first video was that you're not checking on the value of the property or the market every single day and trying to make a decision based on that. You don't buy a property with the, the idea that you gotta check the price of it daily. You're buying it based on what you think the price is gonna be based on repairing that property to current market trends. The market is not changing daily on what values of home. Okay, you've got about 90 days of supporting data that we find out in the figure stage of my coaching. We really analyze not only where it is right now, but what's the current trend it's heading towards in the next 30 to 60 days when you should be selling that property after you've gotten it remodeled. So are is now a right time to do it? Listen, if there are deals in your backyard and you're not doing those deals, and by the way, there are deals in everybody's backyard, okay? If you're not doing those deals outta some kind of fear, I take some reservation with that, okay? I take problem with the idea. Listen, if you don't have the financial means yet, you don't have the money to do coaching yet, you're not in that spot right now, then now is not the right time to do it. I totally support. Okay, but if your reasoning for staying out of the real estate market has to do with the fact that Uncle Bob doesn't think it's a good idea, that's a problem. Okay. And I want you to sit and identify in that for just a little bit, okay? Because each and every single day I am finding deals with my clients. Note what I did not say for my clients, okay? I am finding deals in my market and their market with my clients each and every single day, so clearly. There are opportunities in this market that we could be taking advantage of. Okay. The issue is you now need the education and the coaching more than ever because there is a ton, and I mean a ton of misinformation on the market right now. Okay? So you need to make sure if you're gonna do this, and Sure. Is this a coaching pitch? Fine. Right. I'll, I'll own it. Is this a good time to tell you that I offer professional coaching as if you didn't know that from tuning into this show all this time, right? Of course I did. But let's hop in the market. Let's jump into Privy right now and prove it to you. This is a deal. Okay. One of my students picked up just a, just a couple days ago. Alright. And the details we have on the property is it's an 816 square foot home. With 816 square foot in the basement, there's no purchase price cuz we found this deal off market. Okay, got it. For a song, super inexpensive deal, and then we're using the data that we have, which is limited because of this neighborhood, we could definitely dive a little bit deeper. But the one comp, and honestly, maybe the only comp that matters is because it's the identical property. Look at this here. Okay, 816 square feet up top, 816 square foot in the basement. It's the same home half a mile away. Been remodeled. And it's now, it's sold, not selling. It's sold in the fourth quarter. That is critical. The data that you're using needs to be aged appropriately. Obviously, the more recent the data, the more recent the sale, the more valuable the data is. However, we just don't wanna look at stuff that happened in June, July, August, or even September because that was trading off of the old rates. There were still people who were locked into the lower interest rates at that point, who were buying houses. But by fourth quarter, Those interest rates were gone. These people who bought this property paid today's rates for the property cause that's just where rates were at the time and where they are right now. Check out the interior. They did a really nice job on the remodel. And this really nice job in the remodel translated into a profitable fix and flip for somebody who stopped listening to the BS traffic that's out there and started deciding they were going to do their first fix and flip on their own. They also were nice enough to tell us what the property needs to look like to hit. Objective. Right? The market doesn't lie. Here's we, we switched from a really darker gray to a lighter gray. We've been using this basically same color for the past six to 12 months, right? The flooring that they use, everything is copyable. I'm still not ready for blue cabinets, but you can see here some people are. So if that's gonna be the trend analysis, that we gotta follow that trend and do what the market is doing right? But all, everything that you need to take this property from the buy price to the sell price is already locked and loaded, and the market tells you exactly how to get it done. Right. That's awesome. That opportunity is awesome. So should we be doing it, absolutely. We should be doing it. The question is, are you prepared to step out and make the right decision for yourself financially and personally to break through the BS you're being told by non wealthy people? And decide if now's the right time to do a flip. There are some financial requirements. Okay. I talk to people all the time who are not in the right spot financially to do their first flip. Generally speaking, you need a minimum of$25,000 liquid. Depending on your market. It might be a little bit more than that, but you don't need a hundred thousand dollars. You don't need$200,000 to do a deal. You need leverage capital, and through my foreclosure funding system, I can help you to leverage that capital to. First deal, right in your market there locally using my foreclosure funders because you have education. Okay, so today we've covered some mindset stuff. We've talked about how to keep your head right and stop listed. Press. Warren Buffet said it. It wasn't me. He's telling you. If everybody's afraid of the market right now, you need to be greedy. You need to be looking for opportunities harder than. Okay. Then we went into the fact that the banks haven't stopped buying at all. They're, they're identifying billions of dollars in their own pocket put down and going, we need to buy some real estate. It's underpriced, it's on sale. Now is the time to get there. And then we analyze the deal in real time using Privy and all these links to get started with this. Right now on the screen you can see it. You can analyze deals in your market using Privy. Use my affiliate link to get that set up. And when you do, so reach out. Let's do a quick call. I'll show you how to set it up to get what you need to get deals streaming into your market. On autopilot, right? Privy is a very powerful tool for helping investors to find deals. The point, guys, the takeaway today needs to be is now at right time to do it. Absent positively, it's. Okay. The key is don't listen to the naysayers. Pay attention to the market that's happening around you in real time and make decisions based on actual data, not conjecture, not emotion, and most certainly not the fear that's now abounding in the market today. I would love to chat with you more about that, about your individual. Okay, and if you are ready to have that conversation, the links are below to set up a no obligation free coaching call. On that call, we're gonna discuss and we're actually gonna find a deal right there in your local market. We're gonna do some quick analysis on your market to see if it's a good fit. I'm gonna intro get you introduced. Once you're in the coaching to my foreclosure funding system, and we're gonna talk about that on the call, make sure you're qualified for that. We're gonna talk about how to get the property fixed and how to sell it at a profit regardless of what the market is doing. Okay? So you've gotta take advantage of that. Click on the link below to schedule a call. Get privy to learn how to analyze deals in your local marketplace. Let's decide if now is the right time to get you investing. In real estate, foreclosures are coming. The market is shifting. The money guys are already getting prepared for it. You need to be doing the same, and I would love to be working with you to do that. All right. That is basically our show for today. Guys, if you're ready to get started, don't forget. Please subscribe to the YouTube channel. Love seeing all the subscribers that are popping up. People are getting this content. They're realizing that now is the time to reclaim their lives and get started in real estate investing instead of the daily job or being reliant on the daily grind. Of whatever it is you do for a living. Okay, go ahead and download my free ebook, the Hidden Foreclosure Deals Market. It'll give you some insight as to where I find deals, a local market, and just get started. Let's do a call together. No pressure, no sales type. I know my style can be a little over the top, but I promise you my entire goal here is to help you to do your first deal right there in your local market. The market's here, the time is now, and I'm your foreclosure deals coach. Once again, this is Donny Coram, your foreclosure deals coach, thanking you so, so much for tuning in to this episode of Foreclosure Deals Coach Podcast and reminding you yet again, don't buy a house. Buy a deal. Thank you for tuning in to the Foreclosure Deals Coach Podcast. If you like what you heard here today, remember, new episodes are uploaded weekly. Subscribe wherever you listen to your podcast. Do you want more of the foreclosure deals? Coach, are you ready to learn the mindset, tactics, and tools required to be a. Successful real estate investor. If so, click the link below to schedule a one-on-one coaching. Call today with Donny Coram, the Foreclosure Deals Coach to determine if coaching is right for you. And remember, don't buy a house, buy a deal.