Show Summary

This is episode #337, and my guest today is Alex Joungblood. Alex is a Virginia-based investor, but operates in other markets, and is the man behind one of the largest Facebook groups for real estate investors.
Alex shares some awesome tips today on Hacking your market – that is….use data to find out who’s buying investor deals in your market, find out what they’re buying, and then turn them into hungry customers.
There are some powerful lessons in today’s show…and you’re going to love it.
Please help me welcome Alex Joungblood to the show.

Highlights of this show

  • Meet Alex Joungblood, Virginia based real estate investor.
  • Learn how to ‘hack’ your market to find who is buying houses in each neighborhood, and what type of houses they’re buying.
  • Join the conversation on how to set up a marketing campaign to find houses based on what your buyers are looking for.

Resources and Links from this show:

Listen to the Audio Version of this Episode

FlipNerd Show Transcript:

Mike: This is the Expert Real Estate Investing show, the show for real estate investors, whether you’re a veteran or brand new. I’m your host Mike Hambright, and each week I bring you a new expert guest that will share their knowledge and lessons with you. If you’re excited about real estate investing, believe in personal responsibility, and taking control of your life and financial destiny, you’re in the right place.
This is episode number 337, and my guest today is Alex Joungblood. Alex is a Virginia-based investor but operates in other markets. He’s the man behind one of the largest Facebook groups for real estate investors on Facebook, Wholesaling Houses Full Time. In today’s episode, Alex shares some awesome tips on how to hack your market.
“Hack,” an interesting term, has been used a lot lately, but what he’s talking about is how to use data to find out who is buying investor deals in your market, what they’re buying, and how to turn them into hungry cash buyers for your investing business. There are some powerful lessons in today’s show, and you’re going to love it.
Please help me welcome Alex Joungblood to the show. Alex, welcome to the show my friend.
Alex: Thank you, glad to be here.
Mike: Yeah, it’s good to see you. It’s been a while.
Alex: It has been a little bit.
Mike: Yeah, awesome. I’m excited to talk about this topic today. You’re going to drop some knowledge on us about market hacking.
Alex: Market hacking, it sounds almost mischievous, doesn’t it?
Mike: It sounds sexy, like somebody needs to pay for this episode because it must be good. It’s funny, I have a nine year-old son and I hear him use the word “hacking” like, I have heard him use the word “hacking” and “algorithms” lately, but he’s talking about a Rubik’s Cube. He’s actually old enough to play with it.
Alex: Oh man, that’s a smart dude right there.
Mike: He’s obsessed with a Rubik’s Cube now, so he keeps like trying to figure out the algorithm. I was like, I never really referred to that as an algorithm for it. You’ve just got to solve the puzzle, but apparently that’s . . .
Alex: You need to hire him before somebody else does.
Mike: Snatch him up? Hopefully I have the home field advantage then. We’ll see.
Well, hey man, I’m excited to talk about this because I think a lot of people struggle with getting started, and somehow it’s easier than you think. It’s like, you don’t have to recreate that wheel, just kind of reverse engineer what’s going on in your market. But before we dive into that, who is this great looking man, all knowledgeable, we call Alex Joungblood?
Alex: You?
Mike: No, no. Who are you Alex? Tell us about you.
Alex: Who am I? Well, I’ve been investing for about 12 years on and off from the beginning. I got into it about 12 years ago, and the way I finally got into the game was, I didn’t have any money when I first got married, most people don’t, right? So when you get an apartment, I didn’t have any money for cable, so one thing that you could watch was infomercials. So I watched some infomercials, and, I’m sure you know Carlton Sheets was one of the big ones. This is probably back in 2003, 2004. Yeah, 2003.
Mike: So they were on CDs at that point, versus the cassettes, I’m trying to think, yeah.
Alex: Yeah, and it was funny. I remember one of the ladies on the commercial saying, “Get me the CDs. All I want is the CDs.” I’m like, “Maybe I need the CDs.” But at this time I had no idea what a mortgage was, I had no idea what refinancing was. I really was zero. No knowledge of what was going on at all during that time. So I went ahead and I found it on eBay actually, and I bought the course and went through it and still was confused more than ever.
But long story short, I kind of stumbled my way into a lease option deal, a sandwich lease option deal. A sandwich lease option is when you are the person that is going to lease the property from the owner with the option of buying it, obviously for a higher price that what you have it contracted for, and then leased for less than what you’re leasing it for. Then you’re going to turn around and lease option it to another person, and hopefully make the spread in there.
That deal blew up, and the way I got out of the deal was actually wholesaling it. So I realized, “Wow, Okay. I did this. I wholesaled it, I made some money. What if I could do that over and over and over again?” So that was [inaudible 00:04:24].
Mike: Yeah, that’s awesome. So you had it under contract low enough to be able to wholesale that?
Alex: Yes. I had a buyer. My buyer that was in the deal was actually somebody who was in bankruptcy, so that was kind of a bad start as far as hoping that this person was going to able to get financed, right?
Mike: Yeah. Well, there’s a ton of people that muddle through their first few deals, and obviously a lot people that get wiped out. They like try one time and say, “No. Don’t do that again. Real estate is bad.”
Alex: You know what’s funny is, I bought this deal or I bought it was assigned to me. So I actually paid $1,500 for this deal. I was the one that they assigned this to, and I was like, “Where am I going to get this $1,500 from?” I barely had $5,000 in my bank account and I went out and gave them the $1,500 because I was like, “Well, if this lady will buy it, I’m going to get $16,000.” It makes sense.
Mike: Yeah. So when it was all said and done, did you make money on it?
Alex: Oh yeah. It took years, but I made money on it. But like I said, my out was on the wholesale. That investor who I still know today, who bought it from me, actually turned around and renovated it and sold it. He bought it for like $86,000 or $87,000 and then he renovated and resold it for $175,000 or something like that, so he made money and everybody’s happy.
Mike: Yeah, and it’s always interesting how that works. So what is “market hacking”? We’re going to talk about . . . Are you affiliated with any Russian hackers?
Alex: People hear the term “hack” and then they’re like, “Well, that sounds dishonest or wrong,” or something. But all a hack is, is being able to break into the inner workings of something, and then simply seeing what works and then replicating it. That’s what it is.
Mike: It’s just a new age term for reverse engineering, right?
Alex: Yeah, that’s basically what it is. People are using that word freely, I think, today. Back in the day where you had computer hackers and stuff like that, that were stealing information. We’re not stealing information. We’re simply seeing information that’s put out there and then making it work for us.
Mike: Yeah. So give some context here like, what we’re going to talk about today is how people that really don’t know how to get started or they’re getting started, they’re probably largely recreating the wheel. You’re going to get some advice on how they can essentially hack into and reverse engineer what the demand is for their market, right?
Alex: Yeah. Because the thing is people . . . And don’t get me wrong. This is not just a beginner’s tactic this. This is a tactic that can be used over and over and over again. I know actually some competitors in my market that do use it on a weekly basis. They almost have this report polled so that they can see who is buying and what they’re buying and how much they’re buying, and then they can get an idea of what’s going on in the market. It’s almost like a little bit of a market report essentially.
Mike: Yeah, it is market research. Right?
Alex: What’s that?
Mike: Market research.
Alex: Yeah, that’s what it is, yeah.
Mike: So give an example of how somebody would do this. What problems are they trying to solve? Let’s start there.
Alex: Okay. Somebody is going to want to do this, number one, so they can see what a deal looks like in their market. What a wholesale deal looks like. I remember when I first got into this, and after that first deal that I had done, I was like, “Okay. Well, if I’m going to do this again, what do these deals look like? What’s somebody going to want to buy for me? How much do I need to pay in order to . . . or how much do I need to put this under a contract for in order so I’m going to be safe and still make money on this thing?”
It was just this big, “If I put this under a contract, I’m scared to death that I’m not going to be able to move it.” That was a gigantic fear that it had on me. So if you’re able to do this, it takes the guess work out of it because you can see what people, investors, in your market are paying for things, and what they’re paying, and how and what they’re buying. There’s these different parameters there that you can see.
Mike: Yeah, and ultimately if you are wholesaling, this is a way that you could find, not only find what are people paying, but who are the people. Like, “These could be people that are my buyers.”
Alex: That first key is what or who these people are. Without going into like all the details of how you’re going to pull this list, but you’re going to go into ListSource and pull this list. The way to do that is by looking for the absentee owners of the last six months to a year, and you’re going to see the investors that are buying, and you’re also going to see repeat listings of those buyers. So you know that those are the buyers that are buying over and over and over and over again. Right?
Here’s a tip for you. When you go in and you buy this list, you do not want to remove the duplicates. A lot of people go in and buy a list, and they remove the duplicates because it reduces their price on the amount that they have to buy, and they think they’re saving money, but in this instance . . .
Mike: But then you can’t tell who the repeat buyers are, right?
Alex: You want those buyers so you can see the ones who are buying over and over and over again.
Mike: Yeah. In fact, probably more than anything, if you were to eliminate any, you probably want to eliminate people that just paid cash for one house because that doesn’t necessarily mean they’re an investor.
Alex: Well, absolutely. Because you want to see who’s buying more . . .
Mike: But I’m not saying that they’re not. I guess that they’re absentee. If they’re absentee, then you would assume that they’re not . . . Well, they’re not living there themselves, right?
Alex: Well, and that’s the thing. Absentee is going to have a different address than what the tax address is to the mailing or to property address.
Mike: So do you want to talk more about like what you do with these folks? And I know we don’t have a . . . this could this could be like a two-day boot camp, right? So how do we hack this big idea and bring it down to a half-hour. So where do we go from here? Do people . . .
Alex: Sure. What we will do is, we’re going to identify who the buyers are, then we’re going to find out what they’re buying and you can do this by breaking it down into the tax value of the properties. Now the tax value is completely different in every market. In my market, tax value is pretty darn close to what properties are worth. How about in Dallas? What does that look like?
Mike: No, it’s horrible. They’re like way too high or . . . The city is kind of broke so they’re getting through the phase of the tax values being really low. Actually what it is, is, this is my general belief, in the nice areas of town, like the higher quality areas of town, the tax value probably is a little bit low. But in the low-end parts of town, sometimes the tax value is like double what the house is really worth. I don’t know if it’s just the city exploiting the people that are never actually going to protest or what.
It’s time for a quick announcement. We’ll be back to the show in less than 30 seconds. is your source for turnkey, done-for-you rental properties. If you would like to be an investor and not a landlord, please visit to learn how to purchase cash-flowing, professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today and get started by visiting
I don’t know if it’s just the city exploiting the people that are never actually going to protest or what.
Alex: Yeah. You know what’s funny is, I remember working with somebody in California, and the tax assessment was like $13,000 and the property was really worth like two hundred and something thousand. Have you seen that before?
Mike: I know in California . . . I’m not an expert on California, but I know in California, I think the tax values or the tax amounts stay kind of at the level where you buy the property from, or something like that, no matter how long you own it. Something like that.
Alex: Okay. Maybe I was in a freak market or something, but I’ve seen stuff for tax and stuff and it is like way lower. Ridiculously low. But like I said, ours are kind of close, but that really doesn’t matter. What matters though is, if you see a consistency between the amount of tax value that’s being bought, you have a general idea of, “Okay, that’s the value of properties that they’re targeting here.” That’s one way to do . . .
Mike: $280,000 house or a $300,000 house. Like they like the lower, which probably is conducive to being a rental, right?
Alex: Yeah, you could break that down there.
Mike: So what do you do next? You find out who some of these folks are that are potential customers, and then where do you go from there? Do you send them some . . .
Alex: First of all, we’re finding what they’re buying, so we know who’s buying now and we know what they’re buying. What they’re buying has to do with that tax value. Square footage as well, the square footage of the property. It’s all in that list. When you pull it you’ll be able to see, “Oh, these houses are 1,000 to 1,200 square foot or 1,000 to 1,500.” You’re not going to market for houses that are 2,500 or 3,000 square feet, if you know the general market is shooting for 1,000 to 1,500 square feet.
So it all comes down to reducing your waste on your marketing cost because you’re only going . . . You’re kind of trying to shoot fish in a barrel. We’re trying to go for a laser approach rather than a shotgun approach.
Mike: And just to clarify, you’re primarily looking in areas where you are planning to do some marketing, right? I mean, if you’re doing this after you already have a house, it’s like it’s too late, right?
Alex: Well, not necessarily.
Mike: Not necessarily, but you probably should do it ahead of time.
Alex: If you’ve got the house, you can use this and say, “Oh, does this . . .?” If you put the cart before the horse, you can go and say, “Okay, does this is this house fit the criteria of what these people are buying?” If it’s a repeat buyer and it fits that criteria, you can simply pick up the phone and say, “Hey, I see you’re buying in this such and such area, would you be interested in this property. It’s about this square foot, it’s got this many bedrooms and baths, and it’s worth about this. Would you be interested in taking a look at this?”
Mike: We talked a little bit about how veteran folks can do this as well. I mean, this is something that you would use a lot of, I guess, use cases. If you knew you could do it, if you’re a veteran, if you’re thinking about going into a new part of town or I guess even a new market, it’s a way to stick your toe in the water, right?
Alex: Yeah. Virtual wholesaling is great for using this and that method. Virtual meaning, you’re not in the market that you are marketing in. You’re not physically located. You’re almost like an absentee marketer. It’s perfect because now you know what’s going on in that market, and now you know where you want to direct your marketing expenses to.
So knowing who’s buying, knowing what they’re buying, meaning their square footage, the tax value of the property and what type of property it is, and then also looking at what these people are paying. So then you can see, “Okay, this person is paying roughly this much.”
You’ve got to be careful there because you don’t want to just say, “They’ll pay $60,000 for this.” You kind of have to look at the square footage and break it down on a square footage basis, so that way you can apply it directly.
Mike: Sure. This a strategy more so for wholesaling we’re talking about?
Alex: Yeah. I mean, if you’re if you’re going to . . .
Mike: I guess unless you’re doing like a turnkey model and you’re fixing stuff up and kind of getting it rental ready for somebody, but your intention as an investor, the [inaudible 00:15:47].
Alex: It could work either way because you could see those buyers that are buying the properties, and if they’re buying them over and over again and they’re more of a rental capacity, you’re kind of going to see that just by looking at it, as opposed to somebody that’s buying something for like 40% of value kind of thing. A really cool thing about that too is you can get a general idea of what these people are buying or what’s going on by simply going and looking at the address and then putting it on Google Maps and looking around and seeing what’s going on, or what kind of house is this, and just kind of virtually walking the neighborhood.
Mike: Sure, yeah. How about things like, hopefully I’m not catching you off-guard here, other than tax data, when people are thinking about maybe going into a new market or a new part of town have you used any other data sources like the census or some of those things? Because I know that sometimes they start to break down what percentage of a neighborhood. I don’t know if they go to the zip code level or what level is actually like absentee-owner versus owner-occupied, and I think they kind of break down, basically they break down like percentage of home ownership, right?
Alex: Right. This would be more focused on the absentee action that’s going on. So if you were to pull this list, you could, there could be a pattern of the same subdivision showing up over and over and over again. So then you know that’s a hot subdivision. There’s action going on there and something you might want to target.
Mike: Yeah, I know like in, I mean, if your attention is the wholesale, like I know there’s certain cities in my market that are absolutely . . . it’s like probably more than 50% of the ownership is definitely landlords. I don’t want to name any, call any cities on my market. But then there’s some areas that there’s probably no landlords, or very few, because they’re higher-end houses, nicer areas. They just don’t really fit that typical rental model. I guess if you’re going into a new market, and your intention is to wholesale, you probably should target markets that have a higher percentage of absentee ownership.
Alex: Well, yeah. Absolutely. You could target the higher percentage of absentee ownership. But some of my biggest deals have been from markets that are not high or areas that are not high and absentee. It’s a high . . . And you’d probably agree, some of your biggest wholesale deals are probably in the subdivisions that are mainly homeowners. Because if you get a deal there, man, you could sell that thing wholetail, which is a mix of a wholesale and retail, and really clean out.
Mike: That’s exactly what we do, yeah. Because you’re not selling to an investor that’s trying to make a spread in the middle too. It’s just somebody that is getting a really good value relative to retail, right?
Alex: Right.
Mike: Yeah, that’s my primary exit strategy. It has been for the last couple years. I used to rehab everything and now we just take them down and put them right back on the MLS usually.
Alex: You clean them out just a little bit?
Mike: Clean them out or sometimes we don’t do anything, but usually we at least clean the trash out and if the yard’s overgrown or something. Trying to give a little more drive-up appeal, but not much.
Alex: Yeah, let the MLS go to work for you, right?
Mike: Yeah, that’s how we do it. Yeah.
So talk a little bit more about once people figure it out, essentially what you’re trying to do is find people that you could sell to in your market. And then how do you follow up from a marketing standpoint to say, “Okay, I’ve found this area, I’ve talked to these guys that want to buy in this area,” then what do you do next? That should give you more confidence to take some risk on trying to generate leads there, right?
Alex: Well, right. So now we’re simply going to identify. Once we’ve identified what’s going on in that market, now we have to deploy. So now we’re going to put a marketing campaign together.
Mike: “Deploy,” that’s another fancy word.
Alex: “Deploy?”
Mike: “Hack,” and then “deploy.”
Alex: It’s kind of like military-sounding. Both of them are.
Mike: Yeah.
Alex: Okay. Yeah, so we’re going to deploy a marketing campaign in that area based around exactly what our findings were. So if we know that for instance . . . And this is very scalable too. So let’s say we’re just starting from the ground-up and we’re going to scale into this. Let’s identify the subdivision that’s got the hottest activity going on in it. Then when we target that subdivision, we’re not going to target absentee-owners only. We’re going to target the property that fits that particular criteria.
So we’re not going to go in and say we only want absentee owners. We’re going to go for everybody that has equity. You could simply go to ListSource and pull a list that is based on equity percentage and you can get that list very easily.
Mike: Sure. Hey, I want to jump in to, because I forgot to ask in our last show, we have the question of the week that I want to ask you, so we’re going to pause. We need to actually get some fancy graphics or sound effects when I say “question of the week.”
Alex: Well, yes.
Mike: So the question that I have for you is, how do you decide if you’re going to wholesale a house versus rehab it? Or vise versa?
Alex: There’s also a mix of that too though, the middle point, the wholetail, right? So if I’m going to wholesale a house, I want to have a decent spread there. I want to have $15,000 plus in a wholesale, because if I really wanted that $5,000, $10,000 that I would get on the lower end, I could simply go to a, and this is more advanced, I could go to my private lender, who is going to fund the deal anyway, and can advance me in the form of an acquisition fee, that exact same $5,000 or $10,000. Then I still get the backend on the rehab, right?
Mike: Yeah. So are you saying that you don’t wholesale anything, or anything unless you’re going to make, you’d feel like you’ll make maybe $15,000?
Alex: I’ve got to make at least $15,000 to $20,000. I’ve to make $15,000 or above, really, is what I need to wholesale. Now unless, and it comes back to location, location, location, if the location is questionable for me and I don’t feel 100% comfortable, then I will go ahead and let somebody else tackle it if they if they want to, for a lower price.
Mike: Yeah. Sometimes . . . I primarily wholetail or retail. I don’t really do hardly any assignments anymore. But every once in a while, we’ll get something that’s like deep in the hood that I’m like, “I am not taking ownership of that, period, ever.” So yeah.
Alex: Yeah, so and then you’ll just get rid of it just to be done with it at that point?
Mike: Right. Yeah, if while we’re marketing it there’s people breaking in and doing drugs and the police are kicking in the door, I don’t want to own that.
Alex: Yeah. You don’t want own that kind of problem. But if the difference between the wholetail and the renovation would be is just condition. You can wholetail something if it’s livable and dated. Pink bathrooms, blue bathrooms, green bathrooms, you can still wholetail that. But if we’ve got rooms where the ceilings are caving in because there’s water damage, and the roof is bad, and stuff like that, that’s not something that’s really wholetailable.
Mike: Right. So we talked about marketing, so you could deploy your marketing campaign after you kind of know who your end buyers are, right? So where do we go from there?
Alex: Well now we’re marketing. So now the calls are coming in and business as usual at that point. So we’re going to try to talk to the people that are the most motivated to get a point where we can get that appointment, go out there, and make our offer.
Mike: Yeah. There’s really kind of two lines of thought on wholesale usually. It’s like, go find your customers first, who wants to buy from you, and essentially take orders and then go fulfill those orders. Then there’s the take of, “Hey, I’m just going to learn how to buy really deep to where I’m not going to a problem selling it in theory, as long as I pay a really low price.” Right?
Alex: Yeah.
Mike: Yeah. So this is that version where it’s like, “Let me go take orders.” I would say for a lot of new investors that’s usually one of your biggest fears, is like, “Are there any deals and who would I even sell it to?” Right?
Alex: Right. When you pull this list, your market hacking list, you’re going to be able to see that there are deals and exactly what those deals are, and then you’ll have confidence when you go back and reverse engineer a campaign that’s going to fit that criteria so you’ll have something that these people are interested in.
Mike: Yeah, that’s awesome. Then I guess for most investors, if you’re new and getting started or you’re trying to expand, once you get comfortable with this process, you just start to add more zip codes or more cities in that market and just kind of start to expand from there. So talk about the scaling. Why don’t you talk about like how to . . . I know you’re big on virtual assistants as well, so are these things you could do through virtual assistants that are kind of . . . If you just basically send an email that says, “Hey, go check out Garland, Texas,” and you can have a process.
Alex: I’ve never really done that. I’ve never said, “Okay, check out Garland, Texas and let me know what you see.”
Mike: Yeah.
Alex: I have never done that. Mainly I use virtual assistants for the purpose of getting calls, prescreening sellers and pulling reports from RealQuest or Zillow reports or things like that. By the way, and they’re probably going to get some free advertising from this, is a really good free resource to pull comparables from. They give you a really good list, I was surprised.
Mike: Is that
Alex: Yeah.
Mike: That’s cool. I was just working on some training for some folks on my side and talk about how to get comps. It’s difficult usually around here. Especially if you’re in . . . like I’m in Texas, a non-disclosure state. States that are non-disclosure, I’ll check them out for sure, but a lot of folks that have data like that don’t have as good a data, or any data in the non-disclosure states. But yeah, that’s cool. We’ll check that out and I’ll a link down below here for anybody that wants to check it out.
Alex: Yeah, you can go check it out. It’s free service. Just enter the address and they pull up a bunch of comps. Just make sure your properties that you’re comparing are comparable. So if it’s in my market, there’s a lot of new construction going on in older neighborhoods. So if a house sold for $250,000, don’t compare it to the one that sold for $130,000.
Mike: Right. Especially if it was built last year and your house was 40 years old.
Alex: But sometimes you can’t tell that. It still shows the old date of 1954 or 1945, and it doesn’t show that new date. Always do the street view and see what’s going on.
Mike: Yeah. Awesome. So what else is happening Alex? What else are we going to about today? Are we done talking about the hacking or are we still . . .
Alex: Are we done talking about the hacking? I don’t know.
Mike: Where do we go from here? We talked about scaling it so you can start to move into new markets or expand where you’re marketing to. What are the next steps?
Mike: Well, the next step from there is deploying your marketing, getting the calls to come in, and talking to people. The cool thing is you could talk to these people from a very educated standpoint. So when the phone rings and the people call in you could basically say, “Oh, okay. So you’re in . . .” Obviously, you know what subdivision they’re calling from because you targeted that subdivision if you’re starting that way.
You can say, “Oh yeah, this, market very knowledgeable about it. We love buying in FlipNerd subdivision. That’s a great area.” That really gives you some brownie points in talking to sellers so they don’t think you’re just somebody who just doesn’t know what you’re doing.
Mike: Yeah, absolutely.
Alex: Yeah. You can get some credibility points by doing that. But we’re getting that phone to ring, and we’re talking to sellers, and were making offers, and we have our buyers right there from that list that we’ve pulled.
Mike: Yeah, that’s awesome. It’s a great thing to have. Buyers start to tell you that, “I’ll take anything you can get in this part of town.” That’ll give you a lot more confidence when you’re buying.
Alex: Yes. If you don’t have any buyers . . . Like I said, when you pull that list, those buyers are right there. The numbers don’t lie. Here’s another interesting tip about that. Assignment fees are not included in those final figures on there. So you see a purchase of $50,000, it’s very potential that they paid an investor an assignment fee of $10,000 or $15,000.
Mike: Wow, that’s interesting.
Alex: So take that into consideration when you’re looking at your prices. Because think about it, if your numbers are going to continually go down in price because you’re not taking into consideration that assignment fee, so you’ve got to watch out for that.
Mike: This conversation is interesting because I was just . . . We just sold a house, and it’s one that I literally did not spend a penny on. I took it down, put it on the MLS later that day, and I thought this is like a sale of . . . Sorry?
Alex: You closed on it, right?
Mike: Yeah, which we have to do here. So we took it down and we put it on the MLS and got it under contract for full asking price. In fact they offered above asking price and then their hard money lender got in the way and said, “No, we’ll only do this.” But anyway, we came back to our list price without getting sidetracked there.
I was sure that I was like, “This has got to be like a seller-financed deal. This is how they’re going to make money.” Because I thought they were paying me, hopefully they don’t listen to this show, but I thought they were paying me for full market value even though it needs work. Part of it is kind of, “What’s going on in this market now?” So it’s somebody that said, “No, we’re going to rehab it,” and I was like, “Oh boy. Good luck.”
But then I thought to myself, “I’ve bought hundreds of deals. I’ve never gone back and looked to see what happened with the person that I sold it to.” I know that sounds terrible, but I just have never done that. Would that be some great information to have? I’m in the market with seven million people, so I’m not really that worried about it. Investors are like fire ants here. There’s always a mound of them somewhere.
Alex: You can always go to Zillow and see what they listed it for. You can check all that.
Mike: I use virtual assistants for a lot of things, and I’m like it’ll just start to be one of our tasks. Like, “In 90 days, go look, check the MLS. Check to see just what happened and if you don’t see anything, check back again in another 60 days.” It would be really interesting for us to know because that’d be great information, and I’m just kind of slapping myself now because we’ve never actually done that.”
Alex: It’s funny when you just start talking like this, you’re just like, “Oh, that is a great idea.”
Mike: Yeah. Why haven’t I been doing that for the last ten years? Awesome. Well, Alex, if folks want to learn more about you, I know you’ve got the Wholesaling Houses Full Time group which is like giant on Facebook. We’ll add a link to that.
Alex: I think we just crossed 22,000 members on that.
Mike: That’s awesome.
Alex: Yeah. If you want to check that out, just go to Facebook and check Wholesaling Houses Full Time.
Mike: We’ll add a link to that for sure. Then I think you have some information you wanted to share on market hacking, right?
Alex: Yes, so market hacking is one of the hacks I guess you can say when it comes to real estate investing. I also offer other hacks and if people are interested in checking those out or getting one of those extra hacks for free, you can go to and they could pick it up there.
Mike: Okay, I’m going to write this link. That’s a super long link,
Alex: I’m trying to take up some domain space on that I guess, or page space.
Mike: I have a couple really long URLs. I feel like I need to find like an acronym or something that we can actually buy. Awesome, man.
So you recommend folks check out your Facebook group if they want to get some tips from you on market hacking and some other real estate investing tips they go to We’re going to put a link down below for icomps. That sounds like that’s cool. I’m going to check that out here in a little bit myself. Awesome. Any other ways you want to put down for folks to get a hold of you? You want to give your wife’s cell phone number?
Alex: I could do that.
Mike: Yeah. She might get upset with you.
Alex: Yeah, she might talk to you about my kids, I guess.
Mike: Awesome man. Well, it’s great to see you. Everybody, thanks for joining us today. This was episode number 337 with the one and only Alex Joungblood. The one and only.
Alex: One and only. There is probably . . . well, no. There was a grandfather whose name was Alex Joungblood who I’m named after.
Mike: I’ve told this story a few times before, I’m going to bore people here. But one time I put my name in as a Google Alert, like “Mike Hambright.” And it turns out that there is another Mike Hambright that is actually in a rock band. I started getting all these alerts about, “Mike Hambright and his band and so and so are playing at this . . .”
I’m like, this guy’s a lot cooler than me so I had to eliminate that alert because I never got alerts on myself. It was always this other guy.
Alex: Yeah. There probably is the one and only. I probably should put a Google Alert on Alex Joungblood, that’s a good idea. Another great idea.
Mike: Don’t be disappointed if they’re in a rock band or they’re cooler than you, though.
Alex: It’s bound to happen.
Mike: They’re probably making less money, let’s see it that way.
Alex: Well, we don’t know. If not, we need to partner.
Mike: Yeah. Awesome man. Hey great to see you. Thanks for joining us today and thanks for sharing this information.
Alex: No problem. Great to be here.
Mike: Awesome. Everybody, thanks for joining us and we’ll see you on the next episode.
Alex: Take care.
Mike: Thanks for joining us for this episode of the Investing Show. If you’re not yet an elite member of FlipNerd, you’re missing out. We have tons of great training including a new detailed master class published each month and live training webinars with experts twice a month. Plus you’ll get access to all of our archives where we already have a growing library of master classes and other training videos.
Elite members also get membership in our incredible online mastermind group where many of the top real estate investors from across the country, including many of the hundreds of guests I’ve had on the show in the past, are already members. Whether you’re brand new, looking to get started, or a veteran, you simply must join today. I promise you won’t be disappointed
To learn more or join today, please visit That’s See you on the next show.


Copy link
Powered by Social Snap