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David: Alright guys welcome back to the discount property investor podcast. I am your host David Dodge. Today I am joined by a friend Benson, and Benson is with Privy, and Privy is new relatively and it is a tool that helps real estate investors and I learned about it just the other day and Benson has been telling me about it for a couple weeks now so I really just wanted to bring Benson on the show, learn more about Privy, what it does, how it works and why somebody would be interested in using it, right? What value is this tool creating? So we're going to talk about that today. Welcome Benson. Benson, how you doing buddy?

Benson: I'm great. Thanks for having me, David. I really appreciate the invitation. You know it's been great chatting with you, getting to know you a little bit of a last few weeks. Stoked to be here.

David: Hey hey, thanks for coming on the show Benson. So I am appreciative of you, I'm grateful for your time. I know you're really busy so I was just looking to do a quick demo today, right?

Benson: Sure.

David: Tell us what it is, how it works and why somebody would be interested. Now, we are going to be doing some screen sharing here, however this is also a podcast, right? So I'm going to do my best to kind of narrate some of the things that you may be doing in the event that we're not explaining, so I'll definitely help you with that but let's just start with what it is. So what's going on man? You got a software called Privy.

Benson: Yeah absolutely like Privy didn't just develop because we wanted to create some cool software that we could sell the people, right? So I'm an investor, I'm an agent in Denver Colorado, been in the business for like 18 years and back down during the last downturn in the market, my business partner and I, his name is Scott Fahl, we we're working the same REO office and what we found was that the process of finding and analyzing deals is mostly manual. It's really tedious and monotonous and it just sucks your time. You can sit behind your computer and next thing you know it's past lunch and you haven't gotten anything done and that's even being an agent and having access to MLS, right? Just the comping alone was just crazy and we had all these investors who were like relying on us for everything. And we're like man how do we get investors more involved in the process? How can we get them to be able to be confident in the numbers and be able to pull the trigger on a deal when they see a deal because they actually know what a deal is and they're not relying on me as an agent to tell them every little thing. And so, Privy was really born out of that process of realizing that there's got to be a better way, right? Manual work wasn't- it wasn't great. And this is about the time that the MLS was creating what's called RETS. RETS is like this standard where they basically created everything, all the data to be standardized so that vendors like us could build these products, and we were one of the very first launch programs here in Denver to do that, but what it's enabled us to do is build an amazing platform that agents can use, investors, hard money lenders. We got some really weird cases of people who just want data for different things and we automate a lot of the tedious tasks of finding deals, running comparables, tracking investor activity, which we found kind of accidentally by, you know, using comping algorithms. We realized like oh shoot, we can see what other investors are actually doing. We don't just have to go and learn about that at the local REIA or you know, just learn by doing. We can actually say, you know, show me every fix and flip in Philadelphia, where they bought it, fixed it up and sold it, made at least 100 grand and then we can say well what did they do to that house? We can see the before pictures, the after pictures, what they bought it for, sold it for, the timelines like construction period, days on market. So putting all of that in the system turned out to be really great education because most of the education that's out there is theoretical, right? I know you're a great coach but can you really teach a student like what to buy a property for in San Diego and what to sell it for? Right? Because you're not on the ground and so our platform basically gives them that on the boots or on the ground, boots-on-the-ground education that isn't available through normal means and that was an accidental benefit to us building a platform that is just like spot-on for comping and finding deals.

David: Man I love it. What's the website?

Benson: The website is getprivynow.com

David: Privy is P-R-I-V-Y, so getprivynow.com.

Benson: P-R-I-V-Y, yup.

David: Okay, very cool.

Benson: So it's like you privy the information, right? Like they will say well I'm not privy to that, and that's what we wanted to be is like okay you got like the insider knowledge, right? The average investor out there is doing things the old-fashioned way. They're beating the streets or knocking on doors, you know, doing bandit signs and then they're going to you know, like Zillow to pull comps, right? And you know, in a pinch that could work and you know I do this and investors are entrepreneurs, right? We're notorious for cutting corners and trying to do everything manually and saving money on stuff that we shouldn't save money on. So you know, Privy kind of helps fill some of those gaps to help investors be more structured and instead of just doing it like a hobby, like actually having a legitimate business tool that they can use every day to help them execute their strategies.

David: Man I love it, it's very cool. So do you guys do on market and off market or is it just one or the other?

Benson: It's everything. So you know, obviously everything that's not on market is off market, right? And not every property that's off market is for sale, right? So you have to figure out a way to find those motivated sellers through you know, distressed situations that are publicly recorded typically, right? So foreclosures, absentee owners, vacancies, the tired landlords, properties that have liens on them, you know, so those are some of the kinds of things that investors go after and we've got that in our system as well, but even if you had the best kind of lead generation tool to bring you these off-market leads, you still got to figure out what that thing's worth, in it's current condition, what it's going to be worth after it's fixed up, right? The after repair value, and then you know, we've- I believe that comping, that process of analyzation, it's more of an art than it is a science. It's really difficult to teach somebody how to do that, they really have to do it by learning or learn it by doing it, but we've baked a lot of that philosophy and process into our system, and we're using that real time MLS data to do that comping so you enter an address into our system, it builds a comparative market analysis with all the property details, the real-time comparables, it shows you all the fix and flips in the neighborhood that are comps of that subject and so you can say, well you know, my house I can get it for 100 grand, the house down the street just sold for 250, and I can see what they bought it for, sold it for, the before and after pictures. It's really easy for me to connect the dots on how to turn that house for 100 grand into the 250 one because the house down the street just did it and I've got a blueprint now, and I can follow that blueprint to get to that same value and make maybe similar margins.

David: Got it. So is this an education platform? I'm confused.

Benson: It is but it's an accidental one. It isn't- we're not teaching.

David: Got it.

Benson: Like we don't have courses. We're not selling a course on how to do real estate investing. The education comes from looking at what other investors are already being successful with in your target market.

David: Got it.

Benson: And part of the education is realizing which markets to target at all. So maybe you're in a crappy market like I am in Denver and maybe I want to continue to invest but how do I decide if I should put my money in the Las Vegas or Dallas or Chicago? You know, I don't know that. And some of the things you see out there is like you look at you know, job rates, you look at unemployment, economic activity, growth and yeah, I mean- but how do you even really make a decision off of that? Where you really can make a decision on is are investors in that market having success? Are they making money? We can show you that and you don't have to be an economist to figure that out. You just look at it like okay, here's a bunch of fix and flip's that are getting done, this is where I can go and if I find a deal, I know that I can prove ARV because there's a bunch of fix and flip activity there and I don't have to be a rocket scientist to be able to figure it out because if this house is a similar size, similar bedrooms and bathrooms and I got a comping algorithm that's doing the majority- the lifting, at that point it's just putting together a simple strategy and essentially reverse engineering the process. Then this is- this might be too far, but there's- Steven  has the 'The 7 Habits of Highly Effective People'. The second habit is begin with the end in mind and I apply that to real estate where don't just have shiny object syndrome, don't just chase all these leads, don't just call people randomly, don't just blast Facebook ads based off of like convenience or what's familiar. Reverse engineer the process, find out where investors are having success, what they're having success doing and then reverse engineer that process back and create a strategy to target those areas so you have a similar level of success.

David: Love it. That's awesome. I agree with everything you said, very cool. Well show us Privy, I'm curious to see you know, some of the actionable items that this tool can be used to help you.

Benson: Absolutely.

David: So, you had said that it's like kind of an educational platform but it's really a data platform, right? But you can use the data to educate yourself about you know, what investors are buying properties at, what they've sold them for, how long it took and then obviously it sounds like it's giving you gross profit as well in there. So you kind of have to factor in you know, what they may spent I guess by looking at the pictures, so on so forth.

Benson: Yeah.

David: But other than just the comparables or just you know, pulling like flip data, you know what else does this thing provide? Is it a comping platform?

Benson: Yeah, it's a comping platform. So in many of the markets that we're in, we got real-time MLS data so we're actually going to have MLS data in every major city in the US. We're currently in about 25 different states, but we're layering that in but we've got a national database of all of the public record data listing information, sold data so that you can find a property in Billings, Montana or in Chicago, Illinois, right? You can basically do business wherever you want to, but again what I would like people to consider is that there's a better way of searching for and finding deals. It isn't just based off of you know, what- where you live or where you work or what's convenient. It should be based off of where can you get the best return-on-investment for your time but also your money. Is it in your own backyard? If it is, well you're fortunate, but it might be a completely different market. Your exit strategy might not work in your city, right? So maybe you have to either change your exit strategy, tweak your approach or do it someplace else and before, you know, doing stuff remotely like that would have been an extremely big challenge for a lot of people but covid has been kind of a forcing function for lots of people and they're not realizing like well shoot I've been doing everything virtually for the last year, maybe I can actually do real estate virtually too, right? So we're leveraging that and what's funny about it is we've been doing virtual for 8 years, right? That's how long we've been in the business and so it's just like, the people are finally catching up with it. I think we were a little bit ahead of our time, right? People were like I can't do a deal in Kansas City, it's a half mile or half the world away, how am I going to do that? Well, with the data you can do it. So right here, I'm showing you on the map, the hottest areas to invest in the entire US, so the size of this circle is an aggregation of multiple fix and flip deals, right? Now, not everybody is doing fix and flip, right? But ARV's is what we're using this data for. So if you're looking at fix and flip, wholesale, BRRRR, even just for traditional rentals from a buy and hold perspective, often times do better in a fix and flip activity area because values are going up, you get better appreciation in those areas, you can get better rents in those areas. Rents appreciate or go up faster in high investor activity areas than they do in other parts of town. So, leveraging this data can really help you make better decisions on everything you do. But for those of you that have exit strategies that are dependent upon after repair value, this is even more important. So let's say for example, you know, one of the area's right here that looks hottest is right here in Chicago, 1011 deals, actually it's including this, have been completed in the last 12 months where they purchased it, fixed it up and sold it and the value went up at least 25%. Now why 25%? It's just a way of identifying what a flip and flip deal to be. In Denver, literally people going up to like 80, 82 percent of ARV on flips, right? That they're doing, right? And that's where I think like part of the education comes from our system is that teaching people the reality of the market. A lot of the guru's, quote unquote gurus, teach people like they have to get stuff at 30 and 40 percent to do a wholesale deal, where if you're at a market like Denver, you could literally pick something up at 75% and still give it to somebody who would do that fix and flip and have a 5% margin there that you could use for an assignment fee. So again, it's dependent upon the market. Now you wouldn't want to do that in a place like Chicago, like you probably need to get it at 50 to 60% of ARV to make enough room there for the end buyer to be happy and for you to make your assignment fee, but again it's all that market intelligence. Market intelligence could be the key from an investor having some success or completely failing. So right here as you can see, there was a hot bed of activity here in this area. Now we've got all the before-and-after data on these flips. So we can see what they bought it for, what they sold it for, how much money they made and you get a sense here of how up-to-date the information is like this thing literally just closed yesterday. So let's pop this property open. These are all the matches using the properties that were fixed and flipped and went up in value. Now whenever you open up a Privy, a property inside a Privy, our system automatically comps it out using the comping algorithm and so this is based off of real-time data, it's not coming- we're not scraping it from the internet or getting it from some third-party, this is the same data that an agent and an appraiser uses in that same city. We also- we talked about the off market situation like this property right here, we can know this is cash buyer. We know that this person is- this property is corporate-owned so it's an LLC that pay cash for this property. When we scroll down here on the CMA, this is the comparative market analysis so these are all the comparables, so we use all the major property characteristics to comp this property out, that again, I used to have to do manually as an agent, even that's even having MLS. The average investor doesn't even need- even have that. So it all happens in real time, we get all the  rental data, we've got the real sales data here and then we show you the before and after. So this house right here was acquired for $58,000 in January. It was an off-market acquisition. They sold it for 245 thousand and over here on the right is the actual after photos. Now, if they had acquired it on market, we'd have all the before photos here, but since this was an off-market acquisition, we show you the street view. So 258 grand, sold it for 245, now the investor can see exactly what kind of construction they did, what kind of materials, you know, where has the bar been set for that particular neighborhood that often times is a problem that faces investors that paralyzes them on not pulling the trigger on a deal. If you're doing wholesale, shoot this is great information to share with your buyers list when you're marketing that deal that you have, when you can say the house down the street, this is what they bought it for, so they sold it for and how much money they spent, or this is how much money they grossed. One thing we don't have David and you mentioned this earlier, is we don't know what they spent, right. There's no database currently that exists out there that will allow us to know what people spent but we can estimate some stuff by looking at the before and after pictures. We could also look at the increase in square foot because price per square foot is a rule of thumb to help estimate some of that, but then we have other things like, you know, the construction period. They were in and out of this property David in 44 days, like that is fast, right? That's a fast project so you know these people were operators, and then you can see all of the photos here to see exactly what they did. Then we come down even further and since this house just closed yesterday, we know who the buyer was. So if you're a wholesaler and you want to find the best area to invest, rule number one, you go to the area where you know buyers are buying. You look at the area so you know you have comps in this area so you can actually prove after repair value on any sort of properties that flowed out of your off market marketing. So this is where- this area that I circled, this is where you would want to do your off market marketing. This is where you would spend your mailers, this is where you would knock on doors or do your Facebook ads, like you can leverage the ZIP codes in here to tweak some of your other marketing campaigns that might be more digital but REMERGENCE LLC, they're the buyer. This is now a buyer who you know is executing on deals. They're not just some email you collected off of the Facebook group or somebody at the local REIA that give you a business card that says that they're a buyer. This is somebody that's closing deals right now, so instead of targeting those other people who may or may not be doing deals, REMERGENCE is a company you want to go after, right? Now, we don't have skip tracing in our system currently, we're actually working on it. So we're going to have skip tracing, SMS marketing, the ability to send out mailers to all of our off market leads and other kind of marketing aspects, but what's cool about this REMERGENCE now is it like- you've heard of the buy box, right? Like their criteria? Well their criteria is what you're looking at. You're basically looking at what your criteria is, so you can call REMERGENCE up and say, hey you know mister buyer, I saw you just close that house on Forest Avenue. Man it looks amazing, I love the way you guys did the kitchen. You know, I'm an investor and I often wholesale deals, if I find something in the 60628 zip code, can I send it over to you? And they're going to be like heck yeah, right? So that conversation is way easier when you leverage the data and you actually go in looking like you know what you're talkin about, right? And that works for even beginners. Even a beginner can come in and sound experienced by just leveraging the data so you're much more knowledgeable and your leading with information. It's going to help you open up that door and they're not wondering you know, who is this person? And then of course we got all of the- here's the foreclosure information, so this house was in foreclosure last year. We know that it was vacant, we got all the trustee information, so you can build a really good strategy on targeting some of these off-market deals as well as you know, lots of people are interested in mortgage information, you know. If they got the mortgage in 1998, right? And it's 360 a month loan, like they're getting close to paying this thing off, right? This is probably a property that would have a lot of equity and if you were going and you were trying to negotiate deal with them, you don't have to worry about them saying well I can't do a deal with you because we owe more on the house than it's worth, when you know what the mortgage balance is.

David: Yeah, the mortgage balance helps a ton. I like that, it's a great feature. Next it looks like you got tax information like what the property taxes are, when they were paid last, so on so forth. So you have a ton of different data in here and I see where you know, when you said earlier that it's kind of an educational platform, it can be because you're able to go in, you're able to see what's been flipped recently, you're able to see what they paid for it, what they sold it for and then before and after pictures of those particular properties, assuming that it was listed on the before. Again, there's going to be some things that aren't out there, right? So you got to work around those. However, the ability to see you know, this perspective is really, really cool Benson. I like it man. This is really neat.

Benson: Yeah, yeah and it gives you more insight too and like we talked about off market, right? A lot of investors are focusing on that as a source of deal flow and you know we can show you that there's 33 absentee owners in this area. You know we got cash buyers, your corporate-owned 13 vacant homes, and those are of the- just these matches, just the ones we're looking at. I could run another search where you could say show me every property in the area that's vacant and then- but now you're targeting a specific area because you know the investor activities there. That way if something pops up and you can make a connection with that motivated seller, you know the comps are there so it's going to be easier for you to prove ARV as opposed to like just letting your marketing lead you to where to go, like let the data lead you to where you can market and then you go there and then it's easier for you to prove value. And so here's these other filters up here so we could have done out of that filtering right from this section here which I didn't talk about a lot earlier, but this is a little bit more complicated and I don't want to get into the weeds but you could say you know, it's just showing me cash buyers in area to show me the tired landlord, there's going to be a lot of those coming soon because of the moratoriums like that is definitely an area where I think a lot of investors should consider focusing some effort on is absentee owners and tired landlord which is absentee owners that have owned a property for a long period of time. Also zombie properties, these are vacant homes that are absentee owners so those, if they're not- if there's nobody in them, they're not making any money. They have no money to offset a mortgage if they have to pay that every month, even if they own [inaudible] cash, they're going to be motivated to sell because they're not generating any revenue off of that property if it's vacant.

David: That's a good point. So all absentee owned properties are not vacant, however all vacant houses are absentee owned, right? And a zombie property's both, it's a vacant and an absentee. I like it. So you got different filter options in here and again not everybody that's going to be listening to this is going to be able to see our screens here but we've done a pretty good job of explaining you know, what the software does and how it can help, and it's pretty slick. So it's nationwide data right? Right Benson?

Benson: Nationwide and if you don't mind, can I take this one step further?

David: Sure.

Benson: Because I said that there- this is a hot area and you should be targeting your marketing here, don't forget that in areas where you have high investor activity, you can actually do more on market deals too. So we created a basically a 3-click process to be able to find deals, leveraging what we call our quick deals bar. So right here, these are all those properties there, all I need to do is click this green button right here, and now our system is going in and it's looking for active deals that I can buy right now that have similar margins.

David: These are on that- on the market?

Benson: On market.

David: Okay.

Benson: Now I'm going to tweak this a bit because we're in Chicago, and this button right now it's set at 75% of ARV but in Chicago I know we can find better deals than that so I'm going to adjust the filter down. So I'm going to lower it to 50, and now this is finding on market deals that are in the same zone where we know we can get those margins and it's only showing us the properties that have those 50% margins that we're looking for. So here's a bunch of homes that are available, here's a property that's for sale for 50 grand. If I pop that property up, it shows us the property details. We scroll down to the comparable table and we've got a lot of data here that shows this things a deal. Now we know we can buy it for 50, we said we needed it to be better than 50%, that which means we need comps over 100 grand, right? So when I look at the comps here, the closest house that was just flipped went for 165, this one for 117, these are comps. They aren't just other properties in the area, these are comparables and so then we can open up, let's say we open up this one on Parnell and then now we got a blueprint on exactly what we need to do to our house to get to the same 117 mark. So even if you're conservative and the value is only 117, 120, you're still at like 40% of the ARV. This could be a wholesale deal, right? If you can get something at 40%, could you wholesale that?

David: Oh yeah, absolutely.

Benson: Yeah, likely right?

David: Right.

Benson: And so- and this is another thing that's kind of a misconception within the investor community is that you can't wholesale on market, you absolutely can. I know you don't do a bunch, I know you're mostly off-market David but for the investor out there who's looking to creating some more consistent deal flow and maybe you haven't perfected your marketing formula yet and what you're doing, wholesale some on market stuff, right? It's all about getting the deals out, and if you're newer and you're just starting your marketing and you know, you're- maybe you'll have a whole bunch of money to do mailers and those sorts of things cuz there are some cost to most of those, you can literally just write offers 10, 20 offers a day on stuff just like this that can get you, you know, some decent assignment fees.

David: I like it man, I like it. Tell us a little bit about the off market before we wrap up today Benson.

Benson: Yeah, so the off market's right here. So at the top here, we show you all of the different categories of off-market. Now again, these are the matches that have to do with active.

David: It has to do with your search, right? So if you're searching a city or you're searching a county or searching a ZIP code or in this case Benson has actually drawn a circle on the map within a couple neighborhoods within Chicago if you're watching, that's what he has done here if you're listening. So the criteria is obviously going to change depending on what you put in and/or how you filter it, right? But once you have your criteria in, it looks like you do have the ability to find vacant homes and you have the ability to search the off markets and you can find [inaudible].

Benson: Yeah, let's say we just wanted to switch over, soo I unchecked-

David: Maybe foreclosure or pre-foreclosures, so you have a lot of these options as well for the off market side, and I don't necessarily need to look at every one of these, I was just seeing that you have those quick filters as well as the ability to filter yourself to find the vacant properties cuz you know, we don't do a ton of on market and I know that we're leaving deals on the table and if there's deals to be done that way, they're just few and far between for us. That doesn't mean that that may not work for other investors and other parts of town, so on so forth or even people doing virtual or whatever. But the fact that you have the on market and the off-market, I think is really cool. The before-and-after's and the ability to find the recent flips, also very very cool. I like it man, this is a great software. So again, if you guys are interested to learn more about it, go to getprivynow.com and Benson, how can people connect with you? How about people connect with you if they want to learn more or you know, just want to connect with you if they have questions about this offer? Are you the owner of it by the way?

Benson: Yeah I'm one of the owners so my partner Scott Fahl and I are the majority owners and we've got some other people who are involved or part of the team that are owners as well which is cool because we built it where you know, if you're an owner or something, you are more willing to work hard for it, right? And that's how we kinda structured our company.

David: Absolutely.

Benson: But yeah, so if you want to reach out to me, ask questions, getprivynow.com is our website, you can find out more information there. My email is Benson, B-E-N-S-O-N, @teamprivy.com. That's T-E-A-M as in Michael and then privy, P-R-I-V-Y, P as in Paul, R-I-V-Y.com, and I'm happy to answer any questions you have and yeah, and this is just the tip of the iceberg David, we're already working on the next phase of new releases, we're adding in a bunch of new data sets, we're going to be adding more off market type leads, we're adding in probates and tax sales, we're adding a I told you before, about skip-tracing and the ability to market directly from our system and then more and more just valuable data.  Lots of things coming in. One of the things we're really interested in is helping out those people that are doing- people who are building portfolios. So like more rental data, more rental calculators, so you could search for a property that says show me every house I can buy in St. Louis that's at a 10% cap rate, right? It'll go out there, run the algorithms, leverage the data to find those properties for you and then you could make tweaks in the calculator for- well I'm putting you know, 20% down instead of 15 or you know, I think my rent's going to be 1200 instead of a thousand and then you can tweak it and then get your actual cap rates or cash on cash return and also short-term rentals. So we're looking at bringing in some short term rental data, so for those that are doing Airbnb's or BRBO's, any of those situations as well.

David: Wow, you guys got a lot of stuff already, you're adding a lot of new stuff.

Benson: Yup.

David: I'm going to be- I'm going to have my eye on you guys. I intend to jump in and start playing with the system and learn it because it seems like it's very cool. It's already got a lot of great functionality but you are even adding more super cool functionality. You had stated earlier that you're already in- you have MLS data currently for 25 states and I'd imagine you guys will be expanding that nationwide at some point down the road here in the next couple weeks or months too as well, right?

Benson: Oh yeah, we've got data contracts out and I think 30 or 40 new MLS's.

David: Nice.

Benson: So every major city, like all of the you know, all of the capitals and larger cities are already in the works and now we're adding in some of those kind of tertiary or subs tier markets. These are places like-

David: How many MLS's are there? When I looked a couple years back, this is probably 5, 6 years ago, I think there was 740-ish.

Benson: There's over 600. So there- a lot of them are combining.

David: Different MLS's in the United States, yeah it's kind of nuts man.

Benson: Yeah.

David: But it's cool that there's guys like you that are being able to aggregate all that data cuz it's helping people you know, especially those that are virtual and/or want to learn.  I think my favorite tool is the ability to search the flip comps, not only to see what they did but see what the gross margins are but also to see who the buyer was and what they paid. Therefore if you get a deal in that area, you can contact those buyers and/or know what they paid so if you're wholesaling, you can go in even lower and/or if you're a rehabber, see what the other rehabbers in the area are doing, see what their gross margins were, look at those before and after's to see what they did and you can even kind of copy and steal materials. Not steal you know what I'm saying but like copy what they did. That's the whole point, right? Nothing's new at this point, it's all just-

Benson: Exactly.

David: -somebody's doing what somebody else did, but if you can find somebody that's doing it successfully, why not copy what they did and maybe that means you can go make 20 or 30 or 40 thousand dollars on the actual flip. Benson, thank you so much for coming on the show today.

Benson: Oh, thank you.

David: I have been wanting to learn more about this cuz I know you've been telling me: Dave, you got to check this out and it was really cool that you were able to give me the demo today and I plan on jumping in myself here using this tool to help find buyers and flips, and anybody that's new, I think this is a really great place to start you know, if you're wanting to have a comping tool and/or you know, do some market research as well as figure out where you need to be buying in certain areas, like what are the other investors paying? You know this will actually show you that stuff. Again Benson, I can't thank you enough for your time today. Thanks for coming on. Guys, if you want to connect with Benson, you can email him directly [email protected] or if you want to go check it out for yourself, go to getprivynow.com and that's G-E-T-P-R-I-VY-N-O-W.com. Benson, any parting words for the audience? And again, thank you so much for coming on the show today.

Benson: Oh, my pleasure. Yeah, I would just say that one of the big things that's happening right now that not a lot of investors know about is the institutional buyers are really ramping up their game. So like the open doors and the Zillow's and the you know, the ibuyers of the world, but also like these large institutional buyers like BlackRock, ImitationHomes, a lot of the private money or private equity firms, they're going to spend another 20 billion dollars, last year it was only like 55 billion, that's only. This is gonna be over 75 billion dollars this year on the same properties that you're going after and so you need an edge, you really need a way to be able to step it up and compete with these big guys because honestly we've talked to them, we know their buy box, we know how they're getting and buying properties in volume. Guys, it's with data.

David: It's with data, right.

Benson: It's with technology. It's with automation.

David: I talked to one of my hedge fund buddies yesterday and he said they bought like 65 houses last month and I was like damn, and he's like yeah, we were trying for 80, so yeah they got the power, they got the data, they got the money.

Benson: They do.

David: So yeah I like that. That's a great point. You need to have an edge and it seems like Privy will be a great tool to help you have that edge and/or just to make better decisions on the current investments and/or the current offers you know, that you're making already.

Benson: Right.

David: I love it.

Benson: Which is the edge, right? Even if it's baby steps, right? If you can do you know, one more deal this year because you have better information, like that's moving you forward, right? Instead of just doing things the old-fashioned way. So the game's changing quickly, it really is and you don't have to do stuff just in your own local market, you don't have to be stuck in one exit strategy, you can diversify, put your stuff into different exit strategies, work with other people, JV, do other markets, the sky's the limit.

David: I agree. I love it. Guys, if you have not heard of Privy, now you have. getprivynow.com, check it out. Benson, thank you so much for coming on the show.

Benson: Thank you.

David: I always learn a few things on these episodes and I've learned a ton on this one and you did a fantastic job of giving me a quick demo as well as explaining what it is, so again I just want to- I just want to say thank you so much guys. All right, signing off guys, until next time. See you later.

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