Also love the fishing analogy! I think it is very important for investors to realize there is always going to be a deal out there and for that reason there is no need to be emotional. Once a new investor graps this concept, negotiating becomes easier.
This is very informative and a helpful guide for homebuyers to take notes from. With this current market situation, content like this is much needed. Great work!
Wow he's stern on his offers (good trait). The thinking of this is my best offer and if you contact me after 24 hours it'll be lower is great. Thanks for the insightful information.
Remember you can't use that in a seller's market or on properties with multiple offers. It's for specific investor scenarios where the seller is high and has nothing else real coming in.
You should have Scott Galloway (of the Prof G podcast) on the show sometime. He's an entrepreneur and marketing professor. Would love to hear you guys talk business.
Hey guys, I’m a newly licensed real estate agent in New Jersey and looking to purchase my first investment property with a shoestring budget (once again, newly licensed), any advice?
NJ is not the place to buy on a shoestring budget right now. It's not even really possible in most markets and if you are forcing yourself to buy on a tight budget, one major repair will sink you right away.
@@Isiahjones55 be careful with that as well. You sound like you are rushing to invest and that makes for bad results. For those of us in NJ who don't love the taxes, a lot of us pivoted to Philly for good returns, but you have to know the blocks. We did more than 40 deals in Philly last year for investors.
I don't understand what role your own cash plays in the brrrr method? Other than quality of life, The only thing I can think is, it's like your health bar and when you don't get all of the money out of the cash out refi, you lose some health. What other roles does it play?
@@JonathanGreeneRE so, I have $250,000 cash doing nothing and apparently I don't even need that for Brrrr. So I'm trying to figure out what to do with it all in realestate
@@brendanhoxie2831 there are a variety of options, but where is your target market to deploy the capital. You can BRRRR with any amount, in any market, it just depends on the asset and the availability.
@@JonathanGreeneRE I have a quick question , you mentioned something about buying hybrid commercial - just curious what did you mean by that ?? whats considered a hybrid commercial deal ??
@@CHILDSANONYMOUS hybrid commercial is mixed-use. Usually retail on the bottom and apartments on top and my favorite is Main St mixed-use because I feel like Main Sts all over the country took a hit during the pandemic and spaces are available.
You all need to stop promoting getting leads from the MLS. I understand it is possible, but let's be honest... Not likely, way to stressful, and success rate is extremely low. You all are not helping with the bad reputation new wholesalers get because they follow this advice and screw up sellers that list on the MLS. And why would you do a podcast educating people where to find a banana tree in the middle of a dessert? If you want bananas, go to the amazon Jungle! If you want motivated sellers, go ANYWHERE else BUT MLS. It is one of the most unlikely places to get them. I seriously do not see the point in this. There are FAR better and easier ways to get motivated seller leads, right? If you are getting plagued by sellers nicking and diming you and want too much for their house, it is because you are not dealing with motivated sellers. PERIOD. Why? Probably because you are on MLS lookiong for deals! Stop with this "educating "peole. You truly are misleading them, not educating them.
Jerry, we all know you comment here and in the forums to sell your SEO for Real Estate Investors. I've been investing for more than 30 years and buy as much on-market as off-market. During the pandemic, the off-market deals were way worse because wholesalers were trying to grease their wheels too much and buying in too high. Stop pretending like you want to help people succeed when you follow up every comment with a link to paid platforms. Peace.
@@JonathanGreeneRE No I don't sell SEO here. I teach people the correct way to do this. All savvy investors know that the MLS is not the place for us. CAN you make a deal there, sure. No one said that. Should you? No. You will rub agents the wrong way, sellers the wrong way, and you are doing this industry damage. The fact I own an SEO business has nothing to do with this, and the fact that you had to take it there is obviously a desperate attempt to save face, and a desperate attempt to justify a point you simply don't have. I have shared my opinion in that comment. You respond with an attack. The fact I own an SEO company doesn't change the fact that you encouraging new investors to go to the MLS is simply wrong. There is no need for attacks and desperate attempts to justify what you are doing. Let me ask you this. Why did you feel the need to accuse me of selling SEO, when my entire response has nothing to do with SEO? The reason for this is because you know what I am saying is true and you have nothing in your arsenal to back up your point so you resort to personal attacks. Way to go Jonathan Greene. Fantastic example you put out there. Lastly, I have helped more people on the Biggerpockets forums, for free, writing elaborate answers in full detail with complete information for them to do it on their own the correct way. This is yet another fact that you are misconstruing strategically, to manipulate it to your agenda. I challenge everyone reading this to go to Biggerpockets, and look up my posts and see if I am selling SEO or helping with any questions anyone asks, how to wholesale, how to flip, how to generate leads, you name it. You are a liar, and anyone hitting the forms will see that you are! "Peace" right back at ya!
@@SEOForRealEstateInvestors Broooooooo, long-winded much? Defensive. You've been cutting and pasting the same stuff in the BP forums for years touting how to use SEO and yes, you have many things you sell so don't play a player. I know you. You don't sell them in the forums because you know the rules, but if you want me to have a real person chime in from personal experience, I am happy to do that. I am not telling people what to do or what not do. I am not a wholesaler. I am an investors. I buy most of my deals off the MLS and made 180k on my last flip off the MLS, so...what do you say now? Keep peddling my guy. We can both co-exist, but stop acting so offended when you came into the comments on a video of me on the podcast and blasted it. Back at you.
I got into this issue with at least 2real estate agents. They wanted me to make am above asking offer on homes just because I said I liked them. They didn't even want to write offers unless I was paying above asking. And I had to tell them both that I need to see other houses before I do that and if you're uncomfortable putting in my offer then we don't have to work together. Turned out both of these houses sold for UNDER asking. Sad to say but agents' motives don't always align with yours. They often tell you,the buyer, that "Oh we get paid by the seller" but when you really delve Into the nitty gritty of it all, you,the buyer is ultimately gonna determine what the agents get paid. They can't get 4% of 150k of you don't put in an offer for a 150k
Agree. My trusty realtor did this with me; was reluctant to put in my offers because they were "too low" (6 months apart). I told him well, that's the offer I want to put it and they can counter or decline altogether. I ended up getting both homes. The first seller's realtor was offended at first, but her client wanted to sell and accepted the offer. Ultimately, sometimes, even the best realtors are not looking out for your best financial interests and you have to advocate for yourself.
@@larabraver its honestly sad that they won't at least try for you. The only thing the seller can do is say No,which is fine,but you'll never know if they domt ask. Some agents still think the market is what it was at the beginning of the year.
@@lilianramsdale1465 I get both of your points. I will say that we don't lowball, but if the offer is low and has backing as to why (seller priced too high which is very common right now), we are fine sending it in. It sounds like you were both dealing with agents focused more on themselves than you. Glad you got them!
@@JonathanGreeneRE yep, for mine sellers overpriced the home and not to mention there was a leak in the roof of one of the homes that you'd only notice if visiting the home on a heavy rainy day. Thankfully I visited twice. Fantastic episode by the way, I trailed you guys to your podcast and listened to ep about flipping from scratch.
If you are a long-distance investor, you should have enough experience walking homes near you before you invest in OOS areas and rely on only video and eyes to help you. It's hard to get OOS realtors and boots to do it as much as you would like so I get that, but it's imperative you have all the info you need on every property to make an informed offer.
@@JonathanGreeneRE that we the buyer asked too much and that them the seller did enough. But in my head, why’d you sign a contract two weeks prior agreeing to all the repairs?
@@arrow_head24 If you were still negotiating home inspections anytime you make a request, the seller can say no and oftentimes cancel based on your requests. If you were making more requests, after inspection closed, for new things I can see their point, but if you were just following up on repairs they agreed to, you should be in good shape legally.
Also love the fishing analogy! I think it is very important for investors to realize there is always going to be a deal out there and for that reason there is no need to be emotional. Once a new investor graps this concept, negotiating becomes easier.
David, OMG your analogies are always right on. That's a gift.
This is very informative and a helpful guide for homebuyers to take notes from. With this current market situation, content like this is much needed. Great work!
Thanks for watching and I am glad it helped.
This was just what I needed to get out of my 'analysis paralysis'. I am now following Jonathan's podcast!! Great interview!
The best part of the whole interview was 38:42 - 40:25
Excellent Interview! I’m going to watch several times
Thanks a lot!
When David made the fishing analogy early in the show, I was literally driving in my pickup truck saying hell yeah as soon as he said it 🤣
Lol was just about to make this comment! Heading to work on a rental! And plan on taking my son fishing this weekend. Amen David!
As a fisherman I approve this comment.
I BFF V p pop
TIL
2:21 2:23 2:31 4:14
How did he come up with that fish analogy? David Greene is a gem to life!!!
"show me what's bad in the property".. great advise
Awesome fishing analogy...got a good laugh for all the fishermen
Wow he's stern on his offers (good trait). The thinking of this is my best offer and if you contact me after 24 hours it'll be lower is great. Thanks for the insightful information.
Remember you can't use that in a seller's market or on properties with multiple offers. It's for specific investor scenarios where the seller is high and has nothing else real coming in.
I really really really like this episode and his strategy attitude. Thank you for all the great content 👊
Does a real estate agent have an advantage when investing?
This guy is solid! Gold information
Appreciate that, thanks!
Incredible information in this video, thank you!
Appreciate that, thanks for watching.
Haven't see. This one right on guys.
IS MORRIS INVESTMENTS ON THE UP AND UP OR NOT? THANK YOU!
I loved this episode! 🙏🏾
Like this guys. He’s on point !
Thanks so much for watching this episode.
You should have Scott Galloway (of the Prof G podcast) on the show sometime. He's an entrepreneur and marketing professor. Would love to hear you guys talk business.
Hey guys,
I’m a newly licensed real estate agent in New Jersey and looking to purchase my first investment property with a shoestring budget (once again, newly licensed), any advice?
NJ is not the place to buy on a shoestring budget right now. It's not even really possible in most markets and if you are forcing yourself to buy on a tight budget, one major repair will sink you right away.
@@JonathanGreeneRE thanks for the advice Jonathan, I’ll expand my search to out of state markets as well.
@@Isiahjones55 be careful with that as well. You sound like you are rushing to invest and that makes for bad results. For those of us in NJ who don't love the taxes, a lot of us pivoted to Philly for good returns, but you have to know the blocks. We did more than 40 deals in Philly last year for investors.
@@JonathanGreeneRE perfect, I was raised in Philly, just moved to NJ 10 years ago… (not rushing, doing the 90 day challenge)
@@Isiahjones55 check out Philly then for sure. You know the spots.
Great content.
Thanks for watching.
I don't understand what role your own cash plays in the brrrr method?
Other than quality of life,
The only thing I can think is, it's like your health bar and when you don't get all of the money out of the cash out refi, you lose some health.
What other roles does it play?
Which part of our conversation are you referring to? I am just not sure what you are asking here, happy to help though.
@@JonathanGreeneRE so, I have $250,000 cash doing nothing and apparently I don't even need that for Brrrr. So I'm trying to figure out what to do with it all in realestate
@@brendanhoxie2831 there are a variety of options, but where is your target market to deploy the capital. You can BRRRR with any amount, in any market, it just depends on the asset and the availability.
@@JonathanGreeneRE I have a quick question , you mentioned something about buying hybrid commercial - just curious what did you mean by that ?? whats considered a hybrid commercial deal ??
@@CHILDSANONYMOUS hybrid commercial is mixed-use. Usually retail on the bottom and apartments on top and my favorite is Main St mixed-use because I feel like Main Sts all over the country took a hit during the pandemic and spaces are available.
David "King Fisher" Green.
HAHA. I'll definitely hug Dave when I see him..unless he will do some Ju-Jitsu technique on me;/
🕶💪
Side question: Are Jonathan Greene and David Greene cousins or Rob was kidding?
We are not really cousins, but if you watch episode 584 (my first appearance) you will see how it all got started with Green(e) Day.
Do yourself a favor and skip to 39:55-40:25. Rest of the video is a waste of time.
This guy is on power trip
LMAO. Say more. What's the power trip? This is about how to negotiate.
Jonathon "Chad" Greene
This makes no sense.
fake john stewart
You all need to stop promoting getting leads from the MLS. I understand it is possible, but let's be honest... Not likely, way to stressful, and success rate is extremely low. You all are not helping with the bad reputation new wholesalers get because they follow this advice and screw up sellers that list on the MLS. And why would you do a podcast educating people where to find a banana tree in the middle of a dessert? If you want bananas, go to the amazon Jungle! If you want motivated sellers, go ANYWHERE else BUT MLS. It is one of the most unlikely places to get them. I seriously do not see the point in this. There are FAR better and easier ways to get motivated seller leads, right? If you are getting plagued by sellers nicking and diming you and want too much for their house, it is because you are not dealing with motivated sellers. PERIOD. Why? Probably because you are on MLS lookiong for deals! Stop with this "educating "peole. You truly are misleading them, not educating them.
Im just now in a position to afford a home. I don't know much so where else can I find these sellers?
Jerry, we all know you comment here and in the forums to sell your SEO for Real Estate Investors. I've been investing for more than 30 years and buy as much on-market as off-market. During the pandemic, the off-market deals were way worse because wholesalers were trying to grease their wheels too much and buying in too high. Stop pretending like you want to help people succeed when you follow up every comment with a link to paid platforms. Peace.
@@JonathanGreeneRE No I don't sell SEO here. I teach people the correct way to do this. All savvy investors know that the MLS is not the place for us. CAN you make a deal there, sure. No one said that. Should you? No. You will rub agents the wrong way, sellers the wrong way, and you are doing this industry damage. The fact I own an SEO business has nothing to do with this, and the fact that you had to take it there is obviously a desperate attempt to save face, and a desperate attempt to justify a point you simply don't have. I have shared my opinion in that comment. You respond with an attack. The fact I own an SEO company doesn't change the fact that you encouraging new investors to go to the MLS is simply wrong. There is no need for attacks and desperate attempts to justify what you are doing. Let me ask you this. Why did you feel the need to accuse me of selling SEO, when my entire response has nothing to do with SEO? The reason for this is because you know what I am saying is true and you have nothing in your arsenal to back up your point so you resort to personal attacks. Way to go Jonathan Greene. Fantastic example you put out there. Lastly, I have helped more people on the Biggerpockets forums, for free, writing elaborate answers in full detail with complete information for them to do it on their own the correct way. This is yet another fact that you are misconstruing strategically, to manipulate it to your agenda. I challenge everyone reading this to go to Biggerpockets, and look up my posts and see if I am selling SEO or helping with any questions anyone asks, how to wholesale, how to flip, how to generate leads, you name it. You are a liar, and anyone hitting the forms will see that you are! "Peace" right back at ya!
@@SEOForRealEstateInvestors Broooooooo, long-winded much? Defensive. You've been cutting and pasting the same stuff in the BP forums for years touting how to use SEO and yes, you have many things you sell so don't play a player. I know you. You don't sell them in the forums because you know the rules, but if you want me to have a real person chime in from personal experience, I am happy to do that. I am not telling people what to do or what not do. I am not a wholesaler. I am an investors. I buy most of my deals off the MLS and made 180k on my last flip off the MLS, so...what do you say now? Keep peddling my guy. We can both co-exist, but stop acting so offended when you came into the comments on a video of me on the podcast and blasted it. Back at you.
@@JonathanGreeneRE dude.. I am just not going to bicker with you here. Go do you.
Cash flow should stay the same even when something breaks as long as you are taking out for cap ex and vacancy. That’s how I run my numbers anyway.
Cash flow doesn't stay the same if you don't have reserves and you are in your first month of cap ex savings and then a furnace breaks.
@@JonathanGreeneRE for sure! I definitely have reserves as it’s a must!
@@MartinProperties Yup, the formulas account for monthly add to cap ex and people forget to have 10-15k on hand. Thanks for watching.
I got into this issue with at least 2real estate agents. They wanted me to make am above asking offer on homes just because I said I liked them. They didn't even want to write offers unless I was paying above asking. And I had to tell them both that I need to see other houses before I do that and if you're uncomfortable putting in my offer then we don't have to work together. Turned out both of these houses sold for UNDER asking. Sad to say but agents' motives don't always align with yours. They often tell you,the buyer, that "Oh we get paid by the seller" but when you really delve Into the nitty gritty of it all, you,the buyer is ultimately gonna determine what the agents get paid. They can't get 4% of 150k of you don't put in an offer for a 150k
Agree. My trusty realtor did this with me; was reluctant to put in my offers because they were "too low" (6 months apart). I told him well, that's the offer I want to put it and they can counter or decline altogether. I ended up getting both homes. The first seller's realtor was offended at first, but her client wanted to sell and accepted the offer. Ultimately, sometimes, even the best realtors are not looking out for your best financial interests and you have to advocate for yourself.
@@larabraver its honestly sad that they won't at least try for you. The only thing the seller can do is say No,which is fine,but you'll never know if they domt ask. Some agents still think the market is what it was at the beginning of the year.
@@lilianramsdale1465 I get both of your points. I will say that we don't lowball, but if the offer is low and has backing as to why (seller priced too high which is very common right now), we are fine sending it in. It sounds like you were both dealing with agents focused more on themselves than you. Glad you got them!
@@JonathanGreeneRE yep, for mine sellers overpriced the home and not to mention there was a leak in the roof of one of the homes that you'd only notice if visiting the home on a heavy rainy day. Thankfully I visited twice. Fantastic episode by the way, I trailed you guys to your podcast and listened to ep about flipping from scratch.
@@lilianramsdale1465 sounds like a story I've heard before. And thanks so much for listening to mine as well.
This guy is awesome.
wow David was a policy office and his cousin is a prosecutor 😂😅
The Greene boys were getting it done in their other careers. :)
Its about time for a fishing analogy lol I dont really fish
Great info guys. Thanks to Jonathan Greene as well for your no nonsense prosecutorial negotiating skills with a timetable to respond. Awesome guys!
Another great video! Thanks for all the value!
What sort of shirt are you wearing? It looks like an island design 😁
Great show
Thanks!
if you are long distance investor are you saying you are not sending your realtor into enough homes to see and take video for your?
If you are a long-distance investor, you should have enough experience walking homes near you before you invest in OOS areas and rely on only video and eyes to help you. It's hard to get OOS realtors and boots to do it as much as you would like so I get that, but it's imperative you have all the info you need on every property to make an informed offer.
I had 9 days till closing and the seller breached the 35r contract. So much wasted time and effort. Any actions I can take?
What state are you in and were attorneys involved?
@@JonathanGreeneRE no attorneys involved. I feel that this isn’t right.
@@arrow_head24 What was the reason for the breach given?
@@JonathanGreeneRE that we the buyer asked too much and that them the seller did enough. But in my head, why’d you sign a contract two weeks prior agreeing to all the repairs?
@@arrow_head24 If you were still negotiating home inspections anytime you make a request, the seller can say no and oftentimes cancel based on your requests. If you were making more requests, after inspection closed, for new things I can see their point, but if you were just following up on repairs they agreed to, you should be in good shape legally.