Hey guys, this is, Haim Mamane Palman, the Virtual Wholesaler Guy. So, I just wanted to show a quick video about podcast that I had with Joel McCal and my M.L.S. app in Podio.
So, this is how it looks like, first of all, my V. A. will put the address and we take it from realtor.com based on specific criteria that I’ve learned that I’m giving to them.
So, this is the property just wanna go to the first page click quick.
So, they’ll put the Address it should pull the map of the area.
There is a lease priced which is one hundred and ten thousand dollar.
They would pull there a listing agent contact information. They can do it by a quick Google search and here it is right here and.
From here they were just.
Run very basic comps and to be text in textbox here and here it would be an in number and they would take just three comps and that my V.A will run from recent comp this is the property and I know it’s Zillow and before you say, that it’s not the M.L.S. that’s fine.
It’s the recent comps in Zillow.
It’s just good enough for my purposes and it’s good enough for my V.A. you can see this is the subject property and there are enough properties around the subject property.
And all of them were sold in the last few months, you know, this is again June twentieth on twenty sixteen, twenty-sixth on April twenty-sixth.
So, they were just, my V.A. was conservative they put one hundred fourteen hundred seventeen and one fifteen in D.C.’s and will calculate the average.
So, this is a calculation and box here.
And they will also put the square footage of the house. From here, this will they will take it from either from here or from Zillow.
And they’ll take the square footage of the house and they will put it here and based on the pictures they will determine.
If the property needs to cosmetic, we have MID REHAB and FULL REHAB and based on the pictures here, my V.A determined that this property is dated but it’s in good condition.
So, just need a light COSMETIC REHAB
And these three categories light MID and FULL REHAB.
So, it will calculate based on the square footage of the house times this number eight dollars will calculate an estimated repairs.
Yes, it’s not perfect but it’s just an estimate. For the purposes of getting an offer out and this is based on seventy percent of ARV and I will just want to make sure to emphasize that this try to do will not work in every market in a highly competitive market.
You’ll have Zillow success and be getting offers accepted and it’s better in.
Not so hot markets like, in the Memphis Mongomery, Chicago, St Louise Kansas City and the like and there are probably more markets but recently because the market is so hot.
This much lower rates of success with this offer it’s all about numbers game but going back to this app.
So, there is seventy percent my wholesale fee that I built in my formula is ten thousand dollars and there is calculation here that basically.
The ARV times seventy percent minus the estimated repairs – minus the A.R.V. will come up with this number sixty thousand dollar and you can see that my V.A. just run this number just make it round one sixty-one five and this is what they will use for the offer.
And the next step is basically to send an offer from the app.
And they will just step one will be to generate the proof of fund letter which is basically will attach a bank statement to this app.
So, you see this the proof of funds and the next thing you know the next step would be to send the email to an agent there is a global flow in their background that will send the attached form with email template.
And that will include the agent name to be personalized.
And they will send it right here the next step would be to send the email and the offer will go out and this is all done by my V.A. in the Philippines.
And they push leased a hundred offers per week.
Sometimes they don’t have enough offers to submit M.L.S. offers.
But it’s all about the numbers game.
Sometimes it needs three hundred offers to get one offer accepted and it’s definitely a numbers game.
I will highly recommend to delegate and outsource this task to a V.A. and as long as there are very specific instructions on and obviously this app helps.
So, this is my M.L.S app Donald Ross is the person that helped me build this up and he is a great guy and if you need help with set up for your Podio.
And reach out to him he’s the man and he knows the ins and out of Podio and I highly recommend him and his services.
And to help you with your Podio setup
So, hopefully, this is helpful this is my M.L.S. offers an app.
And it’s pretty powerful and it’s all about a numbers game.
So, I hope it helps and like my page the virtual wholesaler guy and if you haven’t listened to my recent podcast with John McCall I highly recommend you it was great feedback people liked it and picked up a lot of tips about to virtual wholesaling
So, take care and have a great day.