hello everyone and thanks for tuning into the financial investor channel my
name is Brent and today we're gonna be going over the topic of real estate how
to not waste your time when you're investing local and you're a brand new
investor so if you are brand new to my channel I do make stock market personal
finance real estate investment videos weekly so consider subscribing and let's
go ahead and get into it so as a brand new investor I invest in properties that
are local to me within an hour and a half of my home that way could be drive
by them I could research the property beforehand do a walkthrough with my
Realtors now when I do this process initially when we were doing this me and
a friend we would drive around have our phones out on our laps you know looking
through Trulia Zillow our emails from our Realtors you know they're sending us
leads and we're doing this all from our home while we're driving around we're
bouncing around the town basically playing ping-pong and we'll go from one
side of the town to the other side of town back to the other side of town and
it would take forever we would drive around for three or four hours and a
circle so I've kind of come up with a plan I've been doing this now for a few
months I've actually got two properties locked away now I'm going to be
finishing the rehab on one I'm going out there on Saturday we're gonna be doing
this we're going to go out Saturday and check out 5 15 more properties I have 5
on my list my friend has 9 properties on his list
he just purchased one last week or the week before is a three-bedroom two-bath
and I just closed on a four-bedroom two-bath on Monday so we're gonna be
going out looking for our new properties that we're going to be looking at so in
this video I'm gonna go ahead and show you guys how I try and minimize the time
spent researching and putting together and you know drive it around aimlessly
playing ping-pong and the location and you're looking to invest in so if you
guys do you like this video give it a thumbs up button below if there's any
suggestion so let me know as well so let's go ahead and get into it so I put
Fresno California here as our example so in order to get some sort of
I'm gonna go ahead and say that this area here you may be able to get $1,500
for rent so our camp here that I'm going to be looking at is a hundred and fifty
thousand dollars to make our 1% rule our bedrooms we're going to go ahead and say
three bedrooms we're looking for homes that are for sale and they have at least
two bed two bathrooms and let's go ahead and select one bathroom just to get some
more properties in there okay now we have a bunch of properties here to kind
of choose from now we're gonna go ahead and select low to high doesn't really
matter we can actually see here on the map that the majority of these homes
here that match our criteria we're all pretty close together so what I'm going
to be doing is grabbing a few of these so there we are we've kind of zoomed
into our map so we've already researched the city
we've Dean this city worthy of investing now we want to put these properties that
kind of meet our criteria these are interesting to us but we don't know I
mean we can't click on one of these and you can see actually the crime data
let's go ahead and load that up if you head over to crime truely there's a
really good way of showing you the crime statistics within your air giving you
the the reported crimes near the property so here you can see that this
property here in this area here in Fresno Fresno is a pretty rough spot I
went through a couple times and you know during the night I would hear some
sirens throughout the night maybe gunshot I don't know but we're gonna go
ahead and just pretend in this video that we're gonna go ahead and say that
some of these homes are worthy of investment and we want to check them out
and we're gonna go ahead and grab the addresses and with these addresses we're
gonna head over to Google Maps and punch in the addresses here now once you've
kind of got your first one loaded up here you can click on directions and
we're gonna say that we live at McDonald's there's a McDonald's in every
single city we're gonna go ahead and say that our home spot where we're meeting
we're gonna be jumping into a car together and we're gonna be going on a
drive looking at ten properties all together or nine properties all together
and our starting location is going to be McDonald's now on Google Maps you can
select add destination I'm gonna go ahead and jump back over here to my
Fresno and I'm gonna go ahead and pop up a few of these properties here in
another tab that way I can go ahead boy that is okay that doesn't let me do it
that way I can click it that way okay so I'm going to click a couple these homes
here and I'm gonna get them to sort of load on their own and then it doesn't
matter which properties they are I'm just sort of clicking on a few here I'm
gonna get nine of them loaded and then once I have nine of them loaded we're
gonna go ahead and punch these into our I'm gonna find out this one already
what is that 14:26 I don't see it up there I'm gonna go ahead and select that
one as well okay so starting here I'm gonna go ahead and copy these addresses
these are homes that we've had some sort of interest and checking them out so I'm
gonna go ahead and punch these into my Google Maps here we have another one
here I'm gonna go ahead and add destination put that one in there as
well go ahead and what's going on here probably that number four oh it's an
apartment I'm gonna go ahead and skip that Avenue yeah yeah go looking for
some single-family home it's kind of weird that one popped up I'm gonna go
ahead and remove that and add another one in here okay found that one kind of
continuing on here we're just going to go ahead and pop these into Google Maps
and a really cool little feature here that Google Maps allows you to do is
once you have all your dresses kind of put in these are all homes that we've
done our initial screening we've looked at them they look like they're in pretty
good you know areas as far as where we would want to invest in but we're gonna
be driving by these locations are there any parks nice to them are there any
schools next to them are there kids playing outside you know it's in a safe
neighborhood you're not hearing sirens you're not hearing gunshots there's no
one in a trailer in the backyard of the home that's illicit for sale and you can
see somebody moving around and living in there
and you're wondering why the heck you know no these are all homes that you're
gonna be driving by getting out of the car and doing an assessment of the
property now if you're afraid to get out of the car then you can go ahead and put
a big ol X through the property because you're not going to be buying it no
one's going to be renting it for what you're going to be wanting to rent it
for okay so here we've punched in our addresses here and say for example that
we let's go ahead and these were all punched in some sort of way and looks
like majority of our time here okay so here and we're going to say that this
trip is gonna take us see 145 I'm gonna go ahead and just move a few of these
around to kind of make our list a little bit longer in a sense
11:22 okay there we are so initially when we consolidated all of our homes
and we threw them into our spreadsheet it may look like we're gonna take an
hour and 38 minutes to drive by every single one of these locations so we've
met up at McDonald's we have our properties in mind that we want to be
visiting but really right now from looking at it we're gonna be driving
around for thirty eight point eight miles it's gonna take us roughly an hour
in 38 minutes with traffic it could actually take us up to two hours but we
want to eliminate time here so what we can do is because we know our starting
point is McDonald's we can go ahead and say from McDonald's what is our next
nearest location 25:43 over here on the left hand side
you can locate 25 43 and I can't find it for some reason
oh right there are 25 40 30 and we're gonna go ahead and move it up underneath
McDonald's and it becomes our second location we can see here that 6 623
looks like it could be our third location so we're gonna go ahead and
move up 6:23 to become our third location from 6:23 we can then go ahead
and say now we could go left down and around or we can go down and
then come back up and have like a long nice drive towards the end of the day so
I'm actually gonna go ahead and slay off here 323 I'm gonna go ahead and say 559
and then from 559 we're gonna go ahead and hit 240 that looks pretty good right
there and then from 240 we're gonna go ahead and hit thirty one twenty five
thirty one twenty five from 240 and then from 3125 we're gonna go to be going to
145 and then to 105 and then to 1122 and then we're going to be going up here to
24:05 okay so now we've put them into an order that makes a pretty good amount of
sense you know we put them into like a clockwise order here we've cut down our
time from 38 miles thirty eight point eight miles to now 19 miles instead of
an hour and 38 minutes we're going to we're we put them in order that's going
to take us roughly an hour and now that we have these locations in order you can
go ahead and copy all of these locations here let's go ahead and highlight why
isn't it usually yeah okay that goes so it allows you to copy these locations
I'm gonna go ahead and open up a notepad and punch them into my notepad now once
I have them in a notepad what I like to do from here is instead of writing every
single one he goes down I just go to my printer and I've done this sort of
little process here where I give myself a little bit of space and I'm gonna go
ahead and write down okay jump back over here to to Trulia and I look up these
properties and I look up the details for them so you know I could I could either
search for the address here by itself or you know you could just kind of look
through your list but what do you want to write down here I got Barnes Noble
and what you want to write down here is the bedroom
so three-bedroom two-bath it's 1,500 square feet
you know you want to know the size of the home and then how what it's listed
for so I'm gonna say a hundred and fifty thousand so you do this same process for
all of these homes you write down how much you know how many bedrooms how many
bathrooms the size of the home that can vary some homes can be 1,200 some homes
could be smaller if a home is setting that say 1,100 feet 1,100 square feet
but it's a 2-bedroom 1-bath and it's listed for say 80 you know 75 thousand
70,000 because of the square feet you may be able to check it out
drive by it walk through it and you could be able to find some sort of area
within the house that you can actually bump this house into a three-bedroom and
then you've bought it for 70,000 but now it's worth a hundred and fifty thousand
because you know maybe not a hundred and fifty maybe it's worth like 135 as a
3-bedroom 1-bath but now you've got equity in that home but anyways here you
kind of write down all your dresses down just as you know like this now all these
properties are in the order that you're going to be going to them to now you
print this out and you have it on your clipboard or your notepad or whatever
and as you're going by each of these locations you're gonna be making your
detailed notes you're gonna say okay there's a college there's a park next
door you know next door there's kids outside there's you know and then once
you kind of get a list of the detail of the you know what's nearby the commodity
is that are nearby then you're gonna be making details of the home you know roof
needs to be replaced roof roof replacement because if you go
back home and you look at these homes you're not gonna remember anything
roof replacement you're not going to remember what needs to be done on these
homes so paint outside and in a new floor new kitchen and then you know you
kind of go through you walk through the home externally by yourself and then
here for example you know run down area no you just put just brand new and you
just know NO and you kind of go through here and you knock off a bun
these properties as you've kind of driven by them and you've looked at the
state that they're in you've looked at their neighbors you know the neighbors
homes are completely boarded up they have gunshot holes and in the
boards you're gonna go ahead and say that no this is a terrible area to
invest in you're not even gonna bother bring it to your Realtor you're just
going to go ahead and mark it off on your list put a big ol X through it now
these other ones you've gone through and you've looked at them all and you've
made your notes of these properties now out of the nine properties that we've
looked at a few of them we're gonna say you know this is an excellent one this
is okay you know wherever it is this one's okay
and you're gonna go through and just kind of rate them you know which one
would you want to look at and then based on your list when you get back home you
do your estimates how much it's gonna cost of repair what the actual repair
value of that home is and then based on that criteria then you can make your
offers towards that home so that is basically my little process that I kind
of go through before I going out there drive it around waste on a whole lot of
time looking through my app looking through my emails trying to find homes
that match my criteria I already have five or six homes you know up to nine
homes here is on Google Maps that match my criteria I put them in an order
that's gonna eliminate the most amount of time instead of taking me an hour and
a half it may only take me roughly fifty minutes or two an hour depending on the
drive time I've eliminated roughly 30 miles of drive time and I've already
created a list that I can print out and as I'm driving by these locations in and
out of the car I can make my notes here saying hey it needs paint that the porch
needs to be redone roof needs to be remodeled there's a big huge chunk taken
out of the roof or the the chimney you know HVAC is completely shot you know by
the looks of it and then you get your list you take it to your Realtor and say
hey these are properties that I want to take a look at and looked at ten of them
these are the three that I want to really walk through and make an offer on
and he'll say okay okay let's go ahead and do it and you guys can do it right
away or whenever they have so that is basically all hi one of the
cover in today's video how to not waste time make sure you have a list prior to
going out anywhere especially if you're investing locally this is a great way of
you know use Google Maps in order to get your dresses put into an order that's
going to eliminate the most amount of time you're gonna have a set direction
that you're gonna be driving and hitting these locations and then also create
your list with the addresses the bedrooms the bathrooms the square feet
and the price point that are asking that way when you walk through the property
you can make your own assessment of what sort of repairs need to be done you can
look at the square feet of the home you could look at it for yourself
hey is there another room that could be potentially added into the home to give
it value so these are all things you want to be doing and researching trying
to going out and just spending so much time out in your car driving around
because it becomes mind-numbing when you're doing this process so this is
just a little thing that I've done they kind of eliminate a lot of time for me
and I already have the properties that I want to take a look at I'm looking at a
couple four I'm looking at one four Plex a duplex that's listed for like one
hundred and twenty six thousand and a few other little single-family homes and
like a nice neighborhood so that is basically all I wanted to cover in
today's video if you guys did like the video hit the thumbs up button below if
you guys do some sort of other process to help eliminate time when you're
researching properties that you're you know your leads let me know in the
comment section below and of course if you are brand new to the channel I do
make stock market personal finance and real estate investment videos every
single week so consider subscribing and see you next time bye bye
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