Legacy Fusion & Connected Investors

Introduction to the Podcast

Welcome and Introductions

• The podcast begins with a warm welcome from the IAM Legacy team, introducing Tyler and Hector as key participants.

• Hector expresses excitement about sharing new information with the community and investors.

Overview of Connected Investors

Background of Connected Investors

• Tyler shares his extensive background in real estate data, spanning 18 years, starting from 2007 with Realty Track.

• He describes Connected Investors as a social platform for real estate investors, akin to LinkedIn but focused on investment connections.

Evolution of the Platform

• Tyler notes that while initially lacking financial viability, they began developing additional products to enhance business offerings.

• A significant product is Private Lenders, which connects investors with hard money and private lending options.

Software Development at Connected Investors

Focus on Software Solutions

• Tyler emphasizes a shift towards software solutions within Connected Investors, aiming to provide substantial tools for users.

• The platform now focuses on four key principles: finding leads, engaging property owners, conducting research, and securing funding.

Comprehensive Features

• Unique features include advanced skip tracing for contact information and innovative research tools that aid informed decision-making.

• Users can manage the entire process from lead generation to making offers backed by funding through this integrated platform.

Tyler's Personal Journey in Real Estate Data

Early Career Insights

• Tyler reflects on his unexpected entry into real estate data during his early career when he was simply looking for a job.

• He humorously recounts his past as a bartender and how it influenced his approach to mixing data creatively.

Innovations in Real Estate Data

• He discusses creating unique concepts like "zombie properties," combining foreclosure data with vacant property information.

• This innovative thinking led to broader recognition within the industry, showcasing how creative use of data can yield new insights.

Growth and Achievements

Connect Investors: Enhancing Real Estate Investment

Overview of Connect Investors

• The speaker introduces their role as the program director of Connect Investors, emphasizing a focus on creating services tailored specifically for investors.

• The platform is designed exclusively for investors, with all data and features aimed at facilitating quick investment decisions without catering to lenders or other businesses.

Key Features of the Platform

• Introduction of the "viability score," which ranks lists based on motivation levels, helping investors prioritize leads effectively.

• The viability score allows users to identify which pre-foreclosure properties are more motivated to sell, optimizing marketing efforts for faster returns on investment.

User Experience and Success Stories

• The speaker shares a personal success story about quickly securing a contract using the platform's features after filtering for owner-owned properties.

• A user named Luis praises Connect Investors as one of the best platforms available, highlighting his six-year membership experience.

Evolution and Legacy of Software

• Discussion about the legacy product "Penn" that was previously part of Connect Investors but has now been integrated into a standalone tool focused solely on investor needs.

• The transition from Penn to Connected Investors is noted as beneficial, making it easier for users to access essential tools without confusion over branding.

Future Developments and Differentiation

• Emphasis on customer support and addressing technical issues while ensuring accurate information reaches investors effectively.

Understanding Data in Real Estate

The Unique Advantage of Data Knowledge

• The speaker emphasizes their superior understanding of data, claiming they can provide detailed explanations about any property, showcasing a deep knowledge of public record data.

• They highlight the comprehensive sources of data available, including involuntary liens, deeds, mortgages, and pre-foreclosures, indicating a robust software capability to handle various real estate data types.

Decision-Making Support through Technology

• The focus is on helping users make faster decisions with tools like the buyability score that identifies motivated sellers among properties listed.

• Connected Investors utilizes direct MLS data rather than scraping information from other sources. This ensures access to real-time listings with complete details such as photos and descriptions.

Advanced Property Filtering Capabilities

• Users can create specific searches for properties based on criteria like vacancy status, ownership duration, square footage, and equity percentage.

• A single click allows users to see which properties are currently on the market or off-market, facilitating targeted outreach to property owners or agents.

Motivation Assessment in Property Listings

• The buyability score helps prioritize properties by assessing motivation levels; longer ownership duration typically indicates higher motivation to sell.

• Various factors contribute to determining motivation levels for sellers; for instance, occupied versus vacant properties influence urgency in selling.

Data Accuracy and Source Reliability

• Discussion shifts towards the importance of accurate and timely data collection. Only three companies in the U.S. collect public record data directly: First American, Core Logic, and Black Knight.

• Connected Investors obtains its data directly from these primary sources rather than relying on resellers. This connection enhances accuracy and relevance for investors.

Understanding Zombie Properties

• The term "zombie property" refers to homes where homeowners have begun the foreclosure process but have not yet lost their homes. These represent potential investment opportunities due to their distressed status.

Understanding Foreclosure and Property Management

The State of Properties in Limbo

• Properties may be facing foreclosure but have not yet been repossessed by the bank, leaving them in a state of uncertainty.

• Identification of vacant properties is facilitated through the US Postal Databases, which track mail delivery status to determine occupancy.

• Mail carriers will stop delivering mail to properties that are no longer occupied, leading to a "stop mail" designation for those addresses.

Insights on Landlord Behavior

• Long-term landlords often seek new investments after owning properties for several years, driven by a desire for fresh opportunities and upgrades.

• The tendency to explore new platforms and investment options highlights the importance of continuous learning and adaptation in real estate.

Collaboration Between Platforms

• The discussion emphasizes the collaboration between Connected Investors and Legacy Fusion CRM, aimed at enhancing investor resources.

• Both platforms aim to provide investors with tailored features that streamline their processes and improve efficiency.

Data Generation and CRM Integration

• Tyler discusses his data provider company’s focus on lead generation specifically for investors, contrasting it with more general business platforms.

• The integration of data generation with CRM capabilities allows investors to effectively manage leads obtained from property searches.

Utilizing Technology for Real Estate Success

• Investors can load leads into the Legacy Fusion CRM to utilize marketing tools such as drip campaigns and texting sequences.

• During interactions with potential sellers, investors can access comprehensive property data through Connected Investors’ platform, aiding decision-making in real-time.

How Modern Partnerships Transform Real Estate Investing

The Role of Legacy Fusion in Real Estate

• Julio discusses the launch of a partnership with Legacy Fusion, emphasizing its capability to manage backend operations for real estate businesses.

• The platform integrates various functions such as texting, emailing, marketing, and underwriting into one system, streamlining processes for investors.

• Reflecting on past experiences, Julio notes that having access to these tools earlier could have significantly increased their deal volume beyond 400 transactions over five years.

• He highlights the cost savings achieved by consolidating multiple subscriptions into one platform, eliminating inefficiencies from using disparate systems.

• Julio emphasizes that the integration of data and lead sourcing is crucial for modernizing real estate investment strategies.

Lead Generation and Property Motivation

• The discussion shifts to lead generation techniques available through Legacy Fusion's platform, showcasing its ability to identify motivated sellers in specific markets like Charlotte, North Carolina.

• Julio explains how the system filters properties based on motivation levels, focusing on distressed situations such as pre-foreclosures or vacant properties.

• He elaborates on different types of motivations that can drive property sales including financial issues leading to foreclosure or tax delinquencies.

• Users can apply various filters within the system to target specific legal events or liens affecting properties they are interested in purchasing.

• The platform automates list stacking processes which simplifies finding properties meeting multiple criteria without manual effort.

Advanced Filtering Techniques

• Julio demonstrates how users can refine searches further by selecting property ownership types and duration of ownership to find ideal investment opportunities.

• He mentions the ease of identifying off-market properties while also being able to check which ones are currently listed on MLS with just one click.

Understanding the Biobility Score and Its Impact on Sales

Importance of the Biobility Score

• The biobility score is crucial as it reflects the motivation to sell properties, influencing sales value.

• A higher biobility score indicates greater motivation to sell; leads are organized from highest to lowest motivation regardless of their individual scores.

Strategic Marketing Approaches

• Start marketing efforts with properties that have the highest biobility scores for quicker responses and better ROI.

• Focus resources on high-scoring leads rather than spreading efforts thinly across all potential contacts, especially in cold calling or door knocking.

Unique Features of the Platform

• The viability score is a unique feature not found in other platforms, designed to assess seller motivation effectively.

• Scores are color-coded: red for low, yellow for medium, and green for high motivation. Green leads should be prioritized.

Understanding Seller Psyche

• While data provides insights into property ownership, understanding a seller's mental state regarding selling is more complex and often requires direct communication.

• Engaging with sellers through calls or texts can reveal their motivations beyond what data alone can show.

Managing Property Lists Efficiently

• Users can save lists of properties based on specific criteria (e.g., pre-foreclosure), allowing for organized follow-up actions.

• Properties can be sorted by viability score within saved lists to prioritize outreach effectively.

Skip Tracing Capabilities

• The platform allows users to skip trace entire lists quickly, providing contact information efficiently.

• Ownership-based skip tracing distinguishes between current owners and previous residents, enhancing targeting accuracy.

Mobile Accessibility and Future Developments

• The Connected Investors program is mobile-friendly; users can access features directly through a browser without needing an app.

• A mobile app is planned but currently unnecessary since existing functionalities work well on mobile devices with internet access.

Data Retrieval Efficiency

• Quick retrieval of data enhances user experience; distinguishing between landline and cell phone numbers will be an upcoming feature.

Contact Information and Skip Tracing Insights

Overview of Contact Information Retrieval

• The upcoming update will provide detailed contact information for property owners, including landline, mobile numbers, and email addresses. All data is exportable.

• For properties with multiple owners, both owners' contact details are provided through a single request at a low cost of eight cents or even free skip traces.

Benefits of Legacy Fusion vs. Connect Investors

• Signing up with Legacy Fusion grants users 2,500 skip traces per month compared to only 500 when signing up directly with Connect Investors.

• The system allows for efficient skip tracing by potentially retrieving contact information for both property owners in one request.

Efficient Decision-Making in Skip Tracing

• Quick decision-making is emphasized; if one owner's contact fails, the other can be contacted to ensure effective communication.

• The platform prevents repeated skip tracing on unchanged records within a 60-day period to maintain efficiency.

Adaptability and User Feedback

Responsiveness to User Needs

• Connect Investors is noted for its quick adaptability to user feedback and industry changes, enhancing overall service quality.

• Continuous improvement is encouraged; users are invited to suggest features that could add value.

Property Analysis Capabilities

Comprehensive Property Insights

• Users can access extensive property data including purchase history, equity status, current worth, and owner motivations quickly.

• Detailed attributes such as room counts (bedrooms/bathrooms), square footage metrics, and HOA information are meticulously organized for easy understanding.

Ownership Information Analysis

• Ownership insights reveal whether the owner occupies the property or owns others nearby. Local ownership does not necessarily indicate lower motivation levels compared to out-of-state investors.

Targeting Motivated Sellers

Identifying High-Potential Leads

• Lists targeting out-of-state owners with multiple properties have proven effective in identifying motivated sellers.

• Filters allow users to differentiate between local investors and those from out of state based on ownership location.

Linked Properties Feature

Property Analysis and Cash Buyer Insights

Engaging with Property Listings

• The speaker discusses the ability to engage in real-time discussions about properties, allowing for offers based on comparative analysis.

• A specific property was previously listed at $84,500 in 2014, with details available through MLS, including agent information and potentially photos.

• There are current issues with loading listing photos; however, access is expected to be restored as long as MLS permits it.

Importance of MLS Access

• Having MLS access is crucial for viewing previous property photos when conducting comparative market analyses (comps).

• The discussion highlights the integration of AI tools within the platform to find buyers and analyze comparables effectively.

Finding Cash Buyers

• The process of finding cash buyers is simplified by a dedicated button that generates a list of potential buyers for a given property.

• The system identifies 41 cash buyers who have purchased properties in the area within the last six months using cash transactions.

Building a Cash Buyer List

• Users can save lists of cash buyers along with their mailing addresses and names, which differentiates this service from competitors.

• Unlike other platforms that provide data on properties bought with cash, this system focuses on unique entities that have made cash purchases.

Unique Selling Proposition

• Other services may offer extensive lists but often require users to sift through numerous properties to identify actual buyers.

• This platform ensures that once a buyer's information is saved, it remains consistent over time without changing due to new sales data.

Skip Tracing Capabilities

• Users can run skip traces on individual cash buyers to obtain contact information; however, LLC skip tracing is not yet available.

• Effective corporate skip tracing requires accessing state registries and identifying company officers rather than relying on less reliable methods.

Expanding Cash Buyer Lists Across Locations

Finding Cash Buyers and Property Filters

Utilizing the Toggle Feature for Buyer Searches

• The speaker discusses using a toggle feature to search specifically for cash buyers across the United States, with a focus on Charlotte, North Carolina.

Applying Specific Filters for Targeted Results

• Users can apply filters to refine their search for buyers based on criteria such as the number of properties purchased, payment method (cash), property type (e.g., single-family homes), and size.

Customizing Buyer Searches

• The system allows users to narrow down searches by specific buyer types, including individuals, corporations, or trusts. This customization helps in targeting the right audience for property sales.

Timeframe Filtering Options

• Users can filter results based on recent transactions, such as finding all cash buyers in Charlotte within the last three months.

Enhanced Filtering Features

• The speaker appreciates Connected Investors' robust filtering system that includes options like hiding previously added properties from lists to avoid redundancy when building new lists.

List Management and Future Enhancements

Managing Saved Properties Effectively

• A feature allows users to hide properties already saved in their lists by default, making it easier to identify new listings without cluttering their view with old data.

Continuous Improvement of Services

• The platform is described as a SaaS business that will continue evolving. Current enhancements aim at improving how users find properties and cash buyers while minimizing repetitive tasks.

Promotional Offers and Subscription Benefits

Limited-Time Promotional Offer Details

• A promotional offer requires signing up through Legacy Fusion before it expires. This partnership provides free data access through Connected Investors until the end of the year.

User Capacity and Data Management Features

• Subscribers can incorporate three additional users into their package and save an unlimited number of properties. However, saving does not equate to skip tracing capabilities.

Understanding Exports vs. Skip Tracing

Differences Between Saving Properties and Exporting Data

• Saving properties allows users to follow up with them by adding notes or documents; there is no limit on how many records can be saved compared to other systems that impose restrictions.

Monthly Export Limits Explained

• Users are allowed 10,000 exports per month but only if ownership remains unchanged; repeated exports do not count against this limit if they are necessary due to errors.

Skip Tracing Functionality Overview

Requesting Contact Information Through Skip Tracing

• Skip tracing involves requesting contact information linked to specific properties. Each request yields results like phone numbers or emails without incurring charges if no data is found.

Additional Costs Beyond Monthly Requests

Understanding the Value Proposition of a New Business Tool

Introduction to the Offer

• The speaker emphasizes the importance of providing essential tools for success in business, highlighting that while these resources are offered for free to users, they incur costs for the company.

Partnership and Cost Implications

• The partnership between companies involves financial investment but aims to allow users a trial period of about four months to engage with the system without immediate payment, potentially leading to significant deal closures during this time.

Upcoming Features Discussion

• The speaker expresses excitement about discussing key features in future sessions, particularly focusing on "cops," which is identified as a major feature not yet covered.

Community Engagement and Feedback

• Acknowledgment of community feedback is made, specifically addressing a listener's request regarding RV park data integration similar to mobile home listings.

Property Type Filters and Future Enhancements

• Current limitations on filtering commercial properties are explained; however, plans are underway to develop a dedicated section for commercial searches due to their distinct nature compared to residential properties.

Exploring Additional Property Types

Co-Living Spaces Inquiry

• A suggestion from a community member about adding co-living data is discussed. The speaker confirms that current search capabilities can accommodate specific criteria related to square footage and bedroom count.

Closing Remarks and Community Support

• Participants express gratitude for the resources provided, emphasizing their value in helping users succeed in real estate investments.

Final Thoughts and Call-to-Action

Importance of Follow-Up Strategies

• The speaker stresses that while finding leads is crucial, consistent follow-up and engagement are vital components of successful business practices facilitated by their product.

Accessibility and Support Channels

• Users are encouraged to reach out through social media or directly contact support at Legacy Fusion for assistance with any questions or concerns regarding the system.

Commitment to Community Development

• There’s an emphasis on ongoing efforts made by the team behind Legacy Fusion aimed at fulfilling market needs based on community input.

Engagement Opportunities Ahead

Future Podcast Ideas

• Suggestions for future podcast topics are welcomed from listeners as part of an initiative aimed at enhancing community interaction and education around real estate investing tools.

Promotional Offers

Event Announcement and Engagement

Upcoming Legacy Event

• The speaker emphasizes the importance of an upcoming event scheduled for October 18, referred to as the "legacy event of 2025," highlighting its significance.

• An invitation is extended to the audience to reach out for tickets, indicating a desire for engagement and connection with potential attendees.

• The tone is enthusiastic, suggesting that the event will be impactful and worth attending.