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Agents, what am I supposed to do? Confirm with them every 15 minutes. What's that? Okay. Do you want to come? No. Take it like I'm saying right now. Anywhere? None of your business. But do you know how much rent he pays? I don't know. Thanks for nothing. It's dark. It's late. We're in the hood.
I ain't gonna lie, guys. Yesterday was a tough day. We had, it was a long, long day. We started it like 6:30 in the morning and we were still going at one, 2 o'clock in the morning.
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So, we're on our way now to Stratton Island to view some apartments. We've got some, um, great brokers that we've made friends with in the New York area.
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So, anyway, I just thought I'd quickly send you my love. So, say bye to Ruby and Luke. Luke's not off playing. Hello, Luke. We went to look at some properties in Staten Island, which is really close to New York. Good to see you. And they were fantastic, and we were really excited about the properties. Can make good returns. You can get really discounted properties. And to be honest, I probably could sell those properties to some investors. But the problem of doing that is, at the end of these seven days, I don't want to make three, four, five, or even ten thousand pounds this week. This week, I want to buy a house using none of my own money. What do you think?
Possibly the lowest they will accept and still live with? Would they? I mean, I would probably go in at about sort of 145, 150. See if they take it. Yeah. How much did this happen for last year? Oh, a lot more. Um, you're probably looking up like one eight. Um, I want to say, yeah, 180s, 200. Really? Yeah. So, let's do this. Yeah, potentially. Now, we could go into maybe, yeah, possibly. And then we'd buy. If we bought it cash, we'd rent it for about 15, 1600. Yeah. Uh, if we rented it for about 1600, pay all the, um, charges, 600 a month. So, we might be left.
I love the apartment. I think it's really good. If, if you were us, and you were buying in the United States of America or this area, what would you personally invest in? What would you buy? I'd throw money probably into St. George area right now because it's definitely booming and it's coming up. Um, there's also a house down there that I've seen. It's listed at 345. It's on Winter Avenue. Right. Nobody, right now, nobody wants to touch it because no one wants to check. Well, because it's a little bit dicey, the neighborhoods. But in terms of appreciation value, just up the same road, you've got new homes that were sold for like seven, four, five.
How much would you buy for now? Um, you might be able to get it for a little bit less. Um, it's three, four, five. Four, three, four, five. How many did you rent it for? Um, well, I'd rent it room by room maybe. Oh, I like this. You've got the keys for it. I don't have the keys for it, unfortunately. Because I can show us the outside. Talking about, I can take you through the outside. Yeah. So, you think if you spent a little bit of money on it and then you rent it out room by room? Yeah. That's it. Could be juicy. That's it. It's probably got a few of them, you know. So, you're thinking for this, buy it for around about, you know, 350, whatever you can get it for, and then refurb it? Yeah. Rent it out in a room by room. Who, who would rent this? And who would be the sort of? I mean, at the moment, it would probably be someone who's government subsidized. Yeah. And how much rent would they, would the council pay for one of the rooms? 800. 800 a month. Yeah. For just one room. Yeah. And how many rooms would you get here? Um, well, this is a four-bed, one-bath, I think it was that they said. So, you reckon you get about four people? Yeah. But I mean, I don't know, maybe you could do something inside where the rooms are so big, you can get another room out of there.
Alistair, you wanted to ask a little bit about the rules and regulations of doing this regarding, obviously, in the UK. When you do roomies or HMOs, yeah, obviously loads of legislation, right? Um, do you know what that is? Is there much? Yeah, I mean, the only thing that you'll have to do, they come out and they do an inspection of the home. So, they'll be checking for simple things like, sometimes, um, window rings, like you see that house over there on the, uh, you'd call it second floor. Okay. Right. But the, um, they have like a window guards up. So, you need to put that sort of thing in place. You would need to put up smoke alarms, carbon monoxide, fire safety.
So, what I'm thinking right now is, I think that this area, Staten Island, it's fantastic. We've got a great relationship with an agent now, which is brilliant. The problem is, to do what we're wanting to do, like a buy now, pay later, or a joint venture, or something, I just think we're going to struggle. Wholesaling would work really well here with an agent like Amy, but we've got more houses to see now in Philadelphia, which is going to be a different beast again. So, we're just, we've done New York now, we've done Staten Island. Time to go. Time to go and do New Jersey and Philadelphia and Pennsylvania. Oh, I'm excited. I want to buy, man.
Now, the only way that I can buy a house using no money while I'm here in the United States of America is, number one, is finding a joint venture partner. So, finding a property that is so, so good that someone who I also have to find, as well as the property, is prepared to put all of the money in and give me a profit share of that property, maybe 50, maybe 25. So, that would be a way where I could get my foot in the door, buy a property, or part of a property, without using any money, which is awesome.
The other way to do it would be by buying a property whereby you buy it now, but you pay for it later. We call this a lease option agreement because you have the option to pay for it later, even though you buy it now. Now, the great thing about that is, if you get the right property in the right area, when you have to pay for it later, which could be five or ten years down the line, the property has gone up in value. So, you get a bargain price for it down the line. But also, you immediately, because you buy it now, even if you haven't paid for it, you immediately control the property and benefit as if you were the owner. So, you get capital appreciation, but you also can put a tenant in there and start getting rent.
I'm gonna try and find a property whereby the area is bottomed out and people are struggling to sell. There's negative equity, which means that the mortgages are so high and the values are sometimes lower than the mortgages. So, there's no equity in the property. The sellers are really struggling, and they're the kind of properties that I'm going to be looking for, which I won't find in New York. Because the bottom line is, if you want to make money, you've got to solve people's problems. And where everything's rosy and everyone's happy and everyone's making money, it's actually harder. Even though in New York, everyone's making money, it's harder for people like me to get into a market like that and make money. It's easier for me to go into an industry or a market where people are struggling, people are suffering, there's problems, because then you can solve those problems and then you can start making money.
What's awesome about America and about the new websites there are advertising properties such as Zillow and Trulia, it is when the listings go on, it gives you the full address. Now, it lets you do a bit of research and you can find the properties that are negative equity. So, tonight and tomorrow, we're sitting down and we're finding lots of viewings. We're going to go out knocking on people's doors tomorrow and we're going to be contacting people directly, trying to help vendors and see how we can help them. Because at the end of the day, they're in negative equity, they're stuck, they can't get anywhere. If we can offer them a situation, a solution to their problem, it's a win-win for every party, surely. And that's how we're going to get a direct vendor lead. So, that's my plan. It might work, it might completely not. But let's just drive down to Philadelphia and see what we can do.
In West Philadelphia born and raised. On the playground is where I spend most of my days. Chilling out, maxing, relaxing all cool. And all shooting some b-ball outside of the school. When a couple of guys who were up to no good started making trouble in my neighborhood. I got in one little fight and my mom got scared. I said, "You're moving with your auntie and uncle in Bel-Air."
I'm an agent, so I sell houses. Uh, so I'm licensed in PA only for now. I don't, I don't have a license in New York or New Jersey. So, just the, just the Pennsylvania area. Yes. So, um, investment properties? Yeah. Buy, like, buy, hold, rent out to tenants. It's a roller coaster. Yeah. From one neighborhood to another neighborhood, you know, like, block to block. Yes. It's like, yes, especially, I don't know, in New York, but, uh, Center City of Philadelphia.
The rent-to-own program, was that, how did that come about? Did that come back? But it was a government incentive. This program doesn't work with investors because with this side to the business. But if someone's in, um, negative equity, so they own, they owe more to the bank, yeah, than the house is worth, and they can't sell, yeah. That's when we offer a lease option. So, we'll say, we'll buy it and we give them a prize. Okay. Okay. Okay. Okay. What are you saying? Okay. Yeah. There's the people. Yeah. There is the people like that. I don't know. I don't know. She understands. Yeah. Lease option agreements. She gets it. But the problem is, it's the same as the UK. The thing is, honestly, she knows that she won't get her fee. Yeah. You know. Are the people in this area of negative equity? She didn't even go there. She didn't want to tell us. I told the truth. She didn't even go there because she knows that we'll go straight to them. Yeah. But she's, she's just thinking of in her, the way they do things and the way they run their business. That's why I think we need to go to vendors direct.
Here's, here's the interesting thing. When we get a proper, nobody downloads option agreement and explain how we did it. Yeah. Everyone in America is going to start doing it. Crazy. Everyone's going to start doing this. No one's doing it at the moment. 491, 234 properties for sale. It's almost half a million. So, if we narrow this down just a little bit, that's our patch. So, in Philadelphia and that side of New Jersey, there's just 186. Let's narrow this down more. We do not want agent. No, no agent. We just want buy, own, that only. And there are 333. Or some of these are pretty expensive. So, let's do a filter. Let's say to a maximum of $100,000. There's 112. Ah, get more info. That's how you get their number. And then, is it the one at the top? Is that the? No, that's the agent, isn't it? Uh, property owner. Property owner. All right, let's phone them. See what we can do.
Your call has been forwarded to an automated voice messaging system. Please leave your message. Your call has been forwarded to an automated voice message. I promise, if I leave voice messages, by the time they phone me back, it might be too late. I could be back in the UK with no deal by the time.
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Are you kidding me, mate? You know those viewings that we bought yesterday? Did I confirm that viewing yesterday? Yeah, yeah. I've just texted him and he said, "You've confirmed too late." I cannot show you now today. I confirmed it with him yesterday. Sergi, you probably, were you filming me when I confirmed that yesterday? I confirmed it yesterday at 11:00, at 11 AM. So, both of our agents have now said that when we confirm, what, what am I supposed to do? Confirm with them every 15 minutes? Yeah. We sent my text message yesterday at seven. What does he want me to do? This is why I hate agents. What happened to your word being your bond? When you just make an appointment and then you just both show up? What happened to that? I must have, I must have phoned, made a hundred phone calls yesterday to get that appointment. And now he said, "Oh, you confirmed too late." I think we need, I think we just need some fast viewings today with, with friggin, um, vendors direct. Why don't we on Zillow, full addresses? Why don't you go knocking on doors? Knocking on doors of people that have the house for sale? Or just of anybody for sale? So, if they have the house for sale, we knock on the door. They know they're selling their houses. Yeah. Because they're on sale. Yeah. So, let's just rock up, knock on the doors and see what happens. Yeah. Yeah. All right. That one. That one. I know. I've seen a lot of wins. So, why don't we just go knock the door? I'm, man. Do you want to come? No. Are you kidding me? It's your challenge. Oh, mate. All right. Nice to know you, buddy. It's terrible weather for this. We better do it quickly. All right, let's go. Okay. I'll wait. This isn't even rain. I thought it was. Right. This. Oh, how much did it sell for? I don't know. You know, sure. Do you know how much, roughly? Do you know how much, roughly? What's that? Okay. Hi, sorry to bother you. Um, I just think I was just coming to see about your house. I was noticing the, um, so you look a bit confused. Sorry. Yeah, I was just, you've got your house for sale. This ain't for sale. No, no. So, no, I can't help you. I'm sorry. Are you renting? None of your business. Okay. No, I'm not interested. I just told you, man. This is my brother's house. Okay. Do you know how much? Not in the western is selling. No. Do you know how much rent he pays? That's all right. Yeah. That's right. All right. Take it like I'm saying, we're not interested. Yeah. Okay. But do you know how much rent he pays? I don't know. It will literally take two minutes. I'm very, very interested in buying this house. I haven't been able to get hold of the agent. I'm sorry. Make an appointment next time. Sorry.
Guys, I can see another. There's a for sale sign up here. Right here. Oh, man. Come on, seriously. Jason, how many doors are we going to knock on? Well, we're getting nowhere. Seriously, man. It's dark. It's late. We're in the hood. You're going to get yourself shot, mate. You're not on these people's doors, middle of night. You're going to get yourself shot. I don't want to go back without a deal. Yeah. I want to get a deal and then we can go back. I get that. Back to the hotel until I speak to someone who's prepared to give me that house, man. I'm just not freaking going back. You're going to be doing it all night, man. I'm seriously. And people ain't going to be answering the doors. Oh, man. Let's just see. Let's just say a white dude in a suit in the middle of the hood. They ain't answering the door. What do you suggest? I suggest we go faster. We just keep going. Into a good deal. Come on, man. Come on, man. Come on. Seriously, man. Two more. Two more. How many deals did you get then? You?