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I just bought another house and I'm driving there right now I'm gonna show it to you I'll show you the comps to show you why we bought it wow I actually can't believe I got this deal because I bought it off Facebook well Facebook was the reason I found out about the house I'll tell you the deal I'll tell you the story but we're about to roll up on it so let's let's talk about the house I'll show you the house I'll show you the comps and yeah let's let's get into it you know what let's actually just start with the comps because the first cop is actually right here so I'll get out and I'll show you this very first one because knowing what stuff sells for in your neighborhood is the key to getting a good deal let's check this place out so this house behind me with this chicken wire fence this place sold as-is for $535,000 that's a really good anchor to kind of know in your mind now let me bring you to another one not only was it a fixer-upper but it's a model match as well okay this place behind me with the dumpster I saw it was listed for $610,000 call did a little bit of research and find the place sold for over the asking price like 610 grand fixer sold for 535 this is going for over 6/10 I'm like okay guess the place we got this place for $465,000 and you might wonder well how did you hear about the house well remember how I said Facebook yeah here's the actual Facebook video from a realtor that I'm friends with on Facebook it's actually a great guy love working with him too just the straight shooter love that about these folks but yeah I saw that ad on Facebook were just kind of like hey I got this place coming soon on the market I called him up and I'm like I want to go see it okay let's get the ladder too but one of the things he said was I Kevin you know we're we're just doing some work to the house we could get you in a couple days and I go I'm 30 seconds away I'm already heading over again in my car let me just go see it while the works going on because if I buy it I want you to stop doing all the work you're doing because I want to do the work actually already brought some stuff to bring over these are just some older materials that I had and I figure why waste them I'll just bring them over here we're gonna be using this stuff anyway all right ready to go inside the key found the key ready to go outside I guess I could make a quick note about you know negotiating the deal I did come in the deal at 4:50 we had another opportunity going on so we're thinking about going with the other opportunity but this ends up getting multiple offers and I realized ah 465 you got a 535 calm I did a flip in this neighborhood last year so I know the neighborhood and you got that 610 plus comp over there that's remodeled that 535 s as is fixer-upper took like six months of sell for 65 man what am I talking 15 grand just buying the thing so here it is welcome to the family room kitchen hallway town this way dining this way so it needs some work well there's no doubt about that but let me show you this so we obviously paint flooring scrape the ceiling some landscape work the roof needs a little bit of love but check this out brand-spanking-new furnace plenum this is freaking awesome and it's installed by a company I know that's like a free upgrade because of the condition the house nobody cares about that I mean this I'm flooring in here downtown town downtown gotta love a blue toilet and what the heck is this oh that's actually really cool wow I haven't seen that before one of these you kind of got the fiberglass and closure over here you know it all needs a little bit of love the nice thing is those fiberglass enclosures though those are really easy to kind of refinish or replace if you wanted to here's the other bathroom this is the guest bath remember folks the noobs gonna come in here and they're gonna demo both of these bathrooms I look at it go look what I did and my last project here's the before shower tile and here's the after like you can do so much with glazing and replacing slider opens a little bit rough now a noob will go in here and go we need a new slider you know puttin that thing in that's gonna cost you probably $1400 plus stucco repair a pro goes we can take the slider off clean the tracks get somebody to replace the little wheels on the slider we're good as new okay now here's something the pros look for when you're doing new deals see what this is right here this is a copper pipe I feel like a big deal well when these were built they were built with galvanized plumbing in fact the last project we did still has galvanized plumbing this valve is leaking but whatever will replace that but having copper big plus and I also saw some indications of copper under the sinks and the bathrooms which means this whole thing is probably replumbed take a peek at the backyard and point out three pro things here there you go just just in this shot right here what do we have vinyl fence Thank You free upgrade for me no two-story neighbor behind me or to the side they're actually lower than I am or to this side which is great this here is a coax cable we could just get rid of that so they'll clean up the backyard a little bit so we got neighbors we got fence what's the other Pro thing well it's not something you change the other Pro thing is this sort of extended lot back here is a really desirable to people that want to stay in properties like this for the long term I mean look they even got an avocado tree over here this is not a good though this is bad see the downside with avocado trees is they attract rats and critters so very important to have in your lease addenda when you're renting these things out that you want the tenant to make sure they take care of any kind of pests related to this tree here or just clean up the dava kados leaning fence I could probably prop back up and paint chimney needs a chimney cap love to be able to pull one of these walls back without it being load-bearing or structural so let's see what we got to get to here no we have a vent right here we're just going to help us get there and the cooktop vent and then we had another vent right here so we'll know that the walls we're looking forward between those two points that'll really help us all we're up there always wear a respirator when you go up into these attics well well thing we rap there are two things in that shop copper plumbing throughout the house asbestos ducts though not whatever is expecting that's an asbestos booth this is all no come on that's bad that's asbestos my friends and that is an asbestos problem that's rats right there rat turds Molly avocados they're living in the ducts oh my gosh the rats we're living in the ducts right into the heater so they could stay warm holy crap that's not good either that's not looking good look at that that looks like my number one wolf that's my number two wall right there that's not good bad news both of the walls look load-bearing to a point let's see what we could do with it very nicely insulated though overall you know what sometimes people say things like stocks are easier there right stocks are easier that was ridiculous rat poop torn up asbestos ducts I guess the difference between me though and the stock people is I don't mind doing that especially when I'm buying an asset for 465 and this thing is gonna be worth 600 can't do that in stocks Oh quick reminder 20% off for the investing course ends today using wedge 100 and I'm standing outside of a deal I literally wedged with $100,000 deal that's all drop back poop all right so what else do we gotta face the noob leaves this kind of crap or the super noob comes in here and as a landscape contractor redo all the landscaping it spends 20 or 30 thousand dollars in the front I don't want to spend that on the entire house this just needs a new concrete pad a quick little pour and will be done obviously we got some leaks here okay a pro just looks at this and goes no problem we'll cut it out it's probably a pinhole leak in the copper behind one of the solder 's over here not very uncommon at all yeah I'll definitely be getting rid of this sink because the pro looks at this and goes see what this is water softener loop will put the water softener right dah this is a rat's nest waiting to happen this is gross I mean this is like oh this has got to go so a lot of people will actually look at a house like this and go oh yeah well at least they're metal and I don't have to come in here and fix the wood windows this is fine it's not like it gets hot around here now with the wall this might actually not be so bad see where the vent is well this appears to be where the load sits on this wall so I might be able to get rid of from here over which will do a bit dramatic change to the feeling of this well actually still keeping this sort of functional space right here that's like a bad idea now this here ladder is absolutely the wrong type of ladder to be trying to get on the roof with but I don't need to go all the way up I just need to go somewhat up all right what do we got so what can we see here well we can see the ridge caps are pretty messed up we might need some new caps and we've got some some loss as sort of the granules on the roof but this roof could still have five years in it you know it needs a little bit of a tune-up but I think this could survive if we do their caps and touch it up I'm not too anxious about replacing this yet well folks there you have it you want to make a hundred grand in six weeks buying wedge deals or do you want to make some money in an index fund I guess the choice is yours I hear questions you can always stay tuned to this channel hit me up on Instagram or of course meet me in Seattle for our next crash course on real estate investments we've got Austin coming up San Francisco Miami and of course you know for what it's worth people like to bag on buying small deals because they can't sell these as a real thing fund you can't do these individual wedge deals that make a hundred grand here make a hundred grand here but in my opinion this is the easiest way to build the fastest amount of wealth in America buying wedge deals yours yeah that means you're gonna have to go buy some outlets yeah you're gonna have to hire a property manager in a real turn you're gonna have to get a loan fine come on it's so well compensated why would you not do this the only reason you wouldn't do this is because you're afraid you're going to make a mistake but when you get into deals like this I can make a hundred thousand dollars worth of mistakes still learn something and be okay you know then people like to say oh well Kevin you can't scale this what do I need to scale this for you own 20 of these deals and you get a hundred k discount on each of them that's two million dollars then every single month the tenants paying it off for you surround yourself with good contractors and property managers there's your scale your scale is hiring other people you have a plumbing repair that needs to be done you can all the plumber there's your scale look the only time scale matters in real estate it's when you're trying to sell it fund that's the fact of the matter they got that for you jack don't play with it let's go do it let's bring it in come on tell me what do you think on the spot oh it's super ugly in like a really good way sweet let's go play Jack yeah max say LLC no say LLC you can't say that can you say LLC yes that's what's in that box max LLL see no it's open it inside we'll get a scissor oh you gotta know when you get it open Wow I'll see you in there
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