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Welcome back to Discount Property Investor. David Dodge and Michael Slane invites a special guest Matt Laser. Matt is one of their students, he’s been in the program for approximately and Matt just closed his first wholesale deal. In this episode, Matt will be going to breakdown the whole deal for you. They’re going to do a Wholesale Case Study about this deal.
Things that will cover in this episode:
- Who is Matt Laser and how he got started?
- Mindset: be consistent
- Matt Laser’s journey in real estate.
- What is the software that he’s using and the actual process that he took to go get the deal?
- What is the motivation of the seller?
- What did Matt learn in the business?
David: I am your host, joined by my co-host Mr. Mike Slane and today we have a very special guest Mister Matt Laser and Matt’s actually one of our students. He’s been in the program for approximately two months and Matt just closed his first wholesale deal. Hell yeah super exciting to have Matt on. Matt’s going to break down this deal for you guys today, we’re going to do a little case study podcast here. We’re going to talk about the steps that Matt went through to get his first deal. Now, a lot of people that come to Mike and I and that are listening to podcast, you know, they are trying to get their first deal so I think this is going to be very very helpful to anybody and everybody that, you know, has done a couple deals or is literally trying to get their first deal, they’re going to hear first-hand from Matt, you know, what he did to get that deal. So Matt, welcome to the show and good morning. How are you this morning?
Mike: Yeah, Matt’s awesome guys, this is Mike chiming in here. Matt, tell us a little bit about, I guess how you got started. So I know you were and we were- just prior to this we’re just kind of talking about your mindset shift, so tell us a little bit about when you first entered the program where your head was at and what you were thinking and how you got started, just to kind of start there.
Matt: Yeah, sure so I actually owe my short wholesaling career to the pandemic and back at the start of this back in March and April, a lot of people were you know- our gym initially shut down and you know side work out two or three days a week and so I said to myself all right, you know a lot of people are sitting at home now complaining about the pandemic, why don’t I flip the script and do something different? So I committed to myself hey, I used to work out 2, 3, 4 days a week, I’m going to do five days a week. I’m going to eat right and you know try and use this time to make a difference in my life and so I’ll get to the wholesaling part here real quick. It’s not about the- and so I just started developing this mindset of everyday just be consistent, be consistent, be consistent. Even if you half-ass it, go workout, you know. Even if you blow up your diet, you know, just try you know, don’t blow it up the next day and I started to actually get in some of the best shape of my adult life and you know throughout the year, I lost about 25 lbs.
David: That’s great.
Matt: Yeah, it was- you know you can take a bad situation and turn it into something positive and so that was the hell side and later in the year I said well why don’t I, you know, why don’t I apply my- you know, just this mindset of consistency to something else and I had tried to get into real estate and flipping and even did some training back in 2016 and you know, kind of got in with every dirtbag out there and it was a really bad experience and but I said, well, you know what? I’m going to give real estate another shot, and the one thing that I did well back then was I bought a single-family rental. I put 70 grand into it and you know, rented it for a 1025 and I’m thinking-
David: When you say back then, how long ago was that?
Matt: That was 2016.
Matt: And so- you know, I think it’s worth a hundred today and I thought hey this has been a good investment, so I started networking and going to real estate groups and talking to people about finding discounted properties and one of the guys gave me some advice and he said, you know if you want these kind of properties, get into wholesale and learn to wholesale properties and Dave, he kind of uses the same- one of the same things you’ve told me is, you know, once you start finding discounted properties, keep the best, wholesale the rest.
David: All the doors open up to you. You can do a lot of things when you get a discount, right? But if you don’t have a discount, you’re stuck.
Matt: That’s where it all starts, that’s where it all starts. And so then I stumbled upon your book and you know, I listen to it when I was in the car in Audible, that led me to the course and to setting up a call and you know, we got into this on the calls and I just tried to- I just tried to be consistent every day, you know, just keep stepping forward not overthink it as you talked about it every call and just make a little bit of progress every day and so I started driving for dollars during my lunch hour and then I’d go out on the weekends.
David: This is about 2 months ago that you basically joined our program and started implementing these activities daily, right?
Matt: And so yeah, mid-November I started driving for dollars and then you know because I do have a day job like I said, I’m trying to be consistent with my health and going to the gym, you know, I set myself a schedule so I’d get up at 5:30, I’d spend an hour prepping for the day and doing things like getting set up on BatchLeads or transitioning to Deal Machine, you know, implementing the tools that we’ve talked and learned about. During lunch I’d drive, in the evenings I go workout and then I come home eat dinner with the family and then try and get in some texting or follow-up or any of that stuff in the evenings and getting to my first deal was frankly- there’s absolutely no magic to it whatsoever. It was just going out there, it was finding leads.
Mike: There is some magic Matt, there is some magic man. You nailed it though, it’s that consistency. That’s the magic.
David: There’s no secret sauce I think is a good way to word that, right?
David: The magic is the consistency. Yeah Mike, go ahead, I didn’t mean to interrupt.
Mike: That was all, I just wanted- I mean props to Matt, like that is the magic man, you are the magic like you made it happen so very very impressed.
David: Exactly right. That’s exactly right. Well Matt, congratulations man, $18,000 first wholesale deal, took you about two months to get it which is half the time it took me. I know Mike was about the same, he was maybe even a couple months longer than that, so congratulations. Let’s talk about the software’s that you’re doing, you had mentioned you’re driving for dollars, you had mentioned BatchLeads for probably your skip tracing and your SMS I’m assuming. Let’s talk a little bit about you know, the actual process you took to go get this deal man.
Matt: Yeah, I started driving mid-November those first couple weeks with a yellow notepad and jotting down addresses.
David: That’s how we all started. Did you get into any car accidents?
Matt: No, a few close calls.
David: I’ve been in two.
Matt: All the curbs where I’ve been are still intact. Barely. And then Dave, I watched on of your reviews on Deal Machine and we talked about it in the call so I signed up to the free trial and started in putting properties into that and then I watched another, I actually watched the deal machine uhm uhm.
Matt: Yeah webinar, and you know there was a guy on there who, you know, his entire marketing plan and I don’t think I would just recommend being this simple but it was doing Deal Machine and it was sending a postcard. So I started sending postcards and then I take all those leads from Deal Machine, export them to BatchLeads, skip trace and then start texting.
David: Love it, love it.
Matt: And that was basically it. This property itself, I remember driving by it, it looked empty, all the blinds were down. It was in decent shape but there was a massive bush in front of it so I thought it’s probably an empty property, it’s getting overgrown and I added it to the app. It ended up being a trust property and so I texted the trustee, he was about an hour and a half away.
David: Matt, what was the address on it?
Matt: 1920 Lindell.
David: And then that’s North Chesterfield, right?
David: 1921 Lindell, cool. I’m just gonna pull it up here and see if we can-
David: Oh 1-9-2-0, got it okay cool. Go ahead.
Matt: I texted him and, you know, back to one of our calls, this was- this was the week after Dave you were talking to us about the call about making offers, go out, get something under contract and it was just before Christmas and he was an hour and a half away. You said I can’t get up there till after the holidays so I’m thinking all right, well I’m making an offer and so I said, you know what? I’m going to make you an offer tonight, I’ll send you over a proposal, said what I’ll do is I’ll just use some common thumb rules that we use in the industry and you can take a look at it and I talked to him about you know inspection period and I said if there’s anything changes, you know, I’ll come back to you and we’ll talk it through in the inspection period. So, I sent over an offer that night and I think you know, I was sleeping that night, late at night he sent back a signed contract.
David: Isn’t that funny how that happens when you send contracts, sometimes they come back signed. [inaudible], right?
Matt: It’s crazy.
Mike: How did you feel when you got it back signed?
Matt: I felt good but then I started second questioning every- I second questioning my ARV, my rehab number. I thought I overestimated the ARV, underestimated rehab and I was worried it wasn’t going to be a good deal.
Mike: So that is super super common man. It’s- you get that first contract- even today sometimes, we get a contract back and I’m like oh god I hope we made the right offer. So yeah, that is a very real feeling of oh no, what the heck do I do now? I’ve got this property under contract and I think I’m paying too much.
David: Is this it right here? 1920, Lindell.
Matt: Yeah, looks like it.
Matt: I think that’s an older-
David: Older picture of it, right?
Matt: Little blurry but yeah.
David: Sure, sure. Yeah, no worries so yeah, based upon the Zestimate, it’s a 263 and Matt, we know that we don’t use the Zestimate as ARV but it is something to consider, right? What did you pick the ARV on this one at?
Matt: I started in the 260’s and then revised it down to the 250’s.
David: Close though, right?
Matt: Yeah, I was actually right. I was probably closer the first time.
David: Sure sure. Okay awesome man, awesome. And so then, what- how much work did it need?
Matt: It really ended up just needing a lot of paint, some flooring, new windows and you know, the investor decided to a lighter rehab and I mean, cuz it was overall in good shape, you know, I had some paneled walls that they needed to tear down and redo and all but he really just updated reglazed the tile in the bathrooms and a lot of paint in countertops.
David: Nice, so what were the repairs that you had estimated? Like 25, 30 grand or less?
Matt: I think I had it at 35.
David: 35, okay very cool and what was the offer that you made the seller? And real quick before you answer that, did you go out and- you went out and saw the property before the offer or no?
David: You sent the offer first?
David: Perfect. So, what were the offer that you sent? So basically, you know, we see a Zestimate of 260, you’re saying that the ARV was probably closer to 250, right? And then about 35 in repairs and what was the offer that you sent?
David: Love it. 145, okay. So, if you take 250, multiply that by .7, you’re going to get 175 and you minus 35 from that, you’re going to get 140. So you were basically at the MAO, even a little bit above it, but you had mentioned that the rehabber didn’t need to put the full 35 in it, right? So you have made a really good offer but again, this isn’t rocket science, right? Like you used the MAO formula, you plugged in the ARV, multiplied it by 70%, subtract out the repairs, that’s what you made the offer at okay, so that was sight on scene. So the guy signed it and you’re like wow, this is easier than I had expected, I would imagine. You went out and you met him, tell us what happened next.
Matt: Well, you know what? Before I even met him, I think this was a Tuesday night. It was over the holidays and this is- you guys are going to love this part of it. Before I even met him, yeah, it was a Tuesday night, we had our call on Wednesday and we went over the deal and I think I was pretty nervous about time and getting it sold and marketing it and pricing it and Mike comes on and Mike says oh man that’s a great deal, why don’t you just put it out on Facebook and a couple other places, send it out to a couple guys at 165, and so that’s exactly what I did and man I should have done it at 175.
Mike: Was bad advice. Well, the thing was though, when you got that contract back though, you had never been inside the property.
Mike: Well then you didn’t even know so I said, let’s just try to get some interest and see if anyone is even interested.
David: Oh I forgot about that, so you’re marketing it before you have even walked it.
Mike: It was awesome.
David: Love it.
Matt: And so then yeah, I marketed it, found a couple- a lot of very interested people. One guy I’ve been working with and I thought he you know, we talked about finding somebody who thinks going to be able to close and so I met him out at the property with the homeowner, the trustee, and it was an interesting situation, he had his brother who was disabled living in the home and they had- he had made the decision since his father had passed away three years ago. He was going to, you know, it was time to sell the property and find his brother a more suitable place to live. And so I met the prospective buyer out there, the trustee and we walked the property. It was very- it was really in great shape. It’s a great area in town and the prospective buyer and I walked out to my car and I pulled out a contract, you know, this was you had sent me the B to C contracts and kind of said all right, ready to go? And so we signed the B to C contract on the hood of my car that afternoon and made a couple other trips out to the property with his contractor and just to touch base with the seller to make sure he was moving all the stuff out and getting his brother moved out and then, you know, carried it to closing.
David: Man, so the secret sauce here guys is to just take action. I think that’s really the lesson here. Now, one of the things that I really admire about Matt is that he didn’t like get any type of analysis paralysis with this. He just sent the offer based upon a simple formula that we use. He actually did it, right? That’s the hardest part is just doing it, right? Then he started marketing the property, he hadn’t even been in it and basically found some people that were interested and then did you go with them on that initial walk-through so when you were showing it, you were seeing it? Is that how that worked?
David: Love it, love it. So again, he’s bringing buyers with him to the deal and then you didn’t stop or give up, right? So Matt is in a place that doesn’t- I don’t know, I don’t want to say doesn’t allow but he hadn’t found a place yet that would allow him to do a double close dry funded, so he essentially had to then go buy this property for an hour before he could sell it, right? And he reached out and said, hey you know, what do we do? And we gave him a couple different options and he went and did it, right? Again, it’s the persistency, right? He didn’t just get, you know, one little problem and give up and throw in the towel. So, Matt found somebody that was able to help him with the transactional funding and what’d you pay him? A thousand bucks? 1500 bucks? basically to borrow the money for an hour, give or take?
Matt: Yeah. About 22 hours but yeah.
David: There you go, yeah a day, call it a day.
Matt: Yeah, one day yeah.
David: One day right?
Matt: Regardless, yeah I buy it and resell it very quickly.
David: Absolutely, but even after you paid them and your closing cost, you netted $18,000 on the deal. How awesome is that? So essentially you didn’t have any of your own money invested, you were able to borrow some but not only did you borrow the money and pay it back right away, you gave him a good interest rate on that. I mean that is a ton of money to be able to make in a day just for having money come in into an account and out of an account. So, triple win scenario here guys, that the goal, right? So the seller was able to get rid of the property. Seller knows he left money on the table, right Matt? He knows that he left some on the table, but it didn’t matter because the convenience you were offering him was worth more to him than the money that he maybe could have made taking time fixing this place up and hiring a realtor and having to deal with inspectors and all these other things, right?
David: Awesome. You made 18 grand, that’s obvious. Huge win there and congratulations on that first deal and last but not least, the buyer. The buyer got himself a good deal as well or else he wouldn’t have bought it off of you right? So what was his plan? You had mentioned 35 grand in estimated rehab, what did he end up doing with it?
Matt: I think he rehabbed it for a- well, it’s in process now. His budget was- I think the contractor came in at 25.
David: 25 thousand. Awesome man.
Matt: He’s going to do great.
David: So you left some meat on the bone for him as well. He’s able to do the rehab for 10,000 less than really what was estimated on it, and then is he going to sell it and make profit or is he going to rent it? What’s his exit strategy?
Matt: He’s going to sell it.
David: He’s going to sell it, awesome, awesome.
Matt: Yeah, he’s gonna make what? 30 or 40 grand off of it as long as his-
David: That’s what I was gonna calculate. If you offered 140 site unseen and then when you went out there, did anything change with your offer or did it remain 140?
Matt: It remained, it remained. I didn’t change it at all.
David: Perfect, and you didn’t need to, you got a good price from the get-go and then you were marketing it at what was the number? 165? So you marked it up 25 thousand, that was the wholesale fee.
Matt: 145 to 165.
David: The 165 right, and then you were able to end up getting him to agree to pay you 160, which is a 20,000 growth spread. Man, isn’t this fun?
Matt: Yeah. This is the most fun I’ve had in years.
David: Good. It makes us happy to hear that. So, 160 is what he paid, okay plus the 25 thousand, puts it at 185 and we already know that there’s an ARV of 250, so that’s a $65,000 spread after closing cost commissions. Oh shit fund for overage on your rehab, so on so forth, just like you said Matt, he should be making 30, maybe even as much as 40 grand but pretty easily he’s going to make himself a quick 30 thousand and he had a hard money lender as well, right?
Matt: Yes, he did that.
David: And that might have been one of the reasons for the fact that you had to transact. Again, it kind of varies from city to city and state to state guys, so know the rules in your own area but again, you left meat on the bone, so it’s a triple win scenario here. You made 18, he’s going to hopefully make 30+ and the seller was able to just walk away from this problem. So what was the motivation? What was the sellers motivation? I’m sure everybody’s curious. You found him most likely from driving for dollars and/or cold texting, maybe as a combination of both. What was the reason that he said yeah Matt, I’m just willing to let go of this for, you know, 140?
Matt: Yeah, he was- he just wanted to get his brother out of there and get it sold. He didn’t want to have to update it. He didn’t want to have to go through bringing people in for showings. Like I said, his brother was- had medical issues and he’d never be able to- they’d never be able to manage that with listing it with every retailer so he needed to find the easiest way out.
David: He wanted the easiest way out, I love it, you know. And essentially with the property at 250 ARV and you bought it at 140, I mean that’s $110,000 of a discount, you know. Now again, you can look at this lot of different ways cuz we don’t do it that way when were calculating but essentially, you know, he knew the property needed work and he wanted to avoid all these, you know, issues of fixing it and cleaning it and hiring people and it just worked. So I think a lot of people, they you know, they think that when they’re looking for a motivated seller that it’s got to be somebody that’s like dying or in the middle of a divorce or you know, something terrible that’s happening and sometimes you find sellers like that, right? That are motivated for those reasons, but often times, I’d say more times than not, you find somebody that has a level of motivation that isn’t necessarily like life-threatening or immediate. You’re just basically helping them solve a problem. So was he renting it to his brother? Was his brother just living there? What was the situation?
Matt: His brother was just living there, yeah.
David: Nice. So he just wanted to have this brother out and just be done with it. I love it, I love it. So Matt, what did you learn man in hindsight? 2 months at this business, hopefully you learned that this business is incredibly simple.
Matt: Yup, yup. That’s probably the most exciting thing, you know, is you don’t have to be- you don’t have to be a rocket scientist, you don’t have to have all kinds of crazy metrics and processes and overanalyze stuff. You just need to go out there, find leads whether it’s driving or pulling them from Propstream, put them into a texting or you know, I’ve got to work on cold calling next but put them into a software and start reaching out to people and everybody you talk to like we’ve said I always try to make an offer whether it’s via text or whether I get out there onto the property and I tell them ahead of time, I’m going to come out, I’m going to look at it, probably take some pictures and you know, thanks for giving me your time to do that, but I’ll also leave you with a proposal.
David: I love it man, I love it. And you know what? One of the things that we really preach is, you know, just be transparent with the seller. It doesn’t mean you have to go leading with the fact you’re going to be wholesaling their house, right? But in terms of you needing access to the property and due to the terms that you know, we bring in partners on all these wholesale deals, that’s basically what are cap buyer is, is our partner, so having the ability to kind of come in with a level of transparency that basically states hey, you know, I’m going to be bringing in a partner on this and I’m going to need access to it and just by leading with that, I think it eliminates a lot of the fear and the stress that you know, putting a property under contract can bring on people right? I mean, could you look at this as being a stressful deal?
Matt: Initially, but then it was, you know, once I got past- once I got that contract. Okay, I was stressed when I got it back.
David: Yeah, be honest, absolutely.
Mike: Yeah, everybody is.
Matt: Yeah, you know, that was really the first, well I can’t say the first, but that was one of the early contracts that I sent out so was- I was worried about it a little bit that I’d get it wrong, but now everywhere I go, I-
David: You were probably worried when you saw it come back signed like holy shit [inaudible].
Matt: Yeah, what the heck do I do now?
David: That’s right, that’s right.
Matt: That’s exactly what I went through.
David: Right, but now that you’ve got one under your belt, and that’s really the thing you know like, it doesn’t even matter- I’m not even specific to Mike and I’s coaching program, all of these coaching programs, right? You know a lot of times when people go to a coach, they already know what they need to do. The coach is obviously going to help them laser focus those efforts, right? But also, it’s just fear. A lot of people have fear, they don’t know what to do but now that you have one under your belt, I’m confident that you’re going to get two or three more deals here in the next one to two months no problem. You already have a few under contract right now, right? How many contracts have you essentially gotten signed so far?
Matt: I’ve got three under contract right now.
David: 3 currently?
Matt: 3 currently, yup. One, I’m probably going to buy as a rental.
Matt: Another one, eh it’s a marginal deal. I’m not sure if I’m gonna- I do have an interested buyer, but it’s marginal and then the third one, it’s a small multifamily almost like a trailer park, some small multi-family homes and I think I’ve got a buyer for that one hopefully by Monday I’ll have a contract to get that one sold.
David: Man Matt, you are crushing it. Kicking butt. We love working with you because you take action, you know, and that’s one of the difficult things for us, you know, as coaches is you know, we can tell people what to do and how to do it, but if they don’t go take action, it’s very difficult for us to help them, right? And that’s just one of the best things- one of your best characteristics is you know, you don’t argue, you say okay this is what we need to do and you go do it and you’re consistent and that’s really the secret sauce is the consistency here. So, let’s talk a little bit about the software’s that you used. I think you only have a couple, right? You’re basically, I would imagine you have Propstream so you can run your comps, you’re using a driving for dollars app and then what else?
Matt: Deal Machine for driving for dollars, Propstream for pulling leads, non-owner-occupied vacants, all that stuff and frankly using Propstream, I watched a few your videos and just used that as a tutorial to do the exact same way and then BatchLeads for free texting and skip tracing.
David: Perfect and that’s it. I mean, you basically got three. So guys, these software’s aren’t free, there’s a cost to have these but not having these software’s just going to make your life much harder, right? So the reason that we have these software’s is so we can make our time more efficient and we can get more return on our investment which in this case is mostly time, right? So Matt, you know, Deal Machine has a cost, you’re looking at 50 to 100 bucks a month. Propstream is 100 bucks a month and BatchLeads probably about the same, right? So you’re looking at about $300 in costs. So this is something I just want to highlight real quick. You didn’t need $140,000 to buy it. Now, you did hire somebody to help you get it for the transactional funding but you didn’t have that money, right? You didn’t need it, right?
David: So flipping the actual properties doesn’t require any money typically or little, very small like when I say small, really referring to the earnest money that’s going to be deposited, maybe it’s a hundred, maybe it’s 250, however generating the leads does require either time, money or often both alright? However, the investment is worth it. Let’s say you’re spending $300 a month on your software, right? To be able to do this again and again and again and again, right? You just made 18 thousand, so 18 thousand divided by 300 is 60 months. You just bought yourself five years worth of software cost to be able to [inaudible]. So the only reason I’m bringing that up is because that is one of the biggest barriers to entry. People that haven’t done a deal, right? They have this fear of sending the offer and of doing it and they don’t want to commit to getting an app for driving for dollars or more importantly than that even, they don’t want to commit to Propstream because it’s 100 a month, right? But not knowing the ARV of a property makes it really really really really really hard to know what to offer, right? So I just want to highlight that but Matt again, congrats, first deal 18K. Mike, what was your first deal? I don’t think I made 18k till a couple months in.
Mike: My first deal was up in a really really not great area here in St. Louis called Castle Point and this is 6 years ago. I think I bought it for like 3 and sold it for like 7 or 8. I’d have to look at it so it was like a 4, 5k deal.
David: Hey a deal’s a deal though.
Mike: I was super excited about it at the time you know. Again, it’s- you learn so much from doing your first deal too.
David: So much.
Mike: Yeah, Matt congratulations again, I know we’ve told you before and we’ll probably say it a hundred more times just because it’s just an awesome thing to see someone like you succeed because I know how it feels. I mean six weeks in, you were doing like you said at very beginning, you know, you we’re trying to figure out what I can consistently do and you did it, and I know that sometimes it’s just feels like you’re beating your head against the wall and yeah, to finally have one pop, it’s just it’s very exciting and yeah, really really happy to see you getting- be able to put deals together and keep doing it.
David: And I’m pretty confident you’re going to have another deal under your belt in the next couple of weeks. You already have three properties under contract already beyond this one you just closed literally less than a week ago, right? So phenomenal. The three pillars of wholesaling is Mike and I’s third book, right? And if we were to sum it up into one sentence: marketing, making offers and following up. Matt, what do you think about that?
Matt: That’s- I think it is that simple.
David: It literally is. Now, there’s a lot of moving parts by all means guys. I don’t want to oversimplify it, right? Now there’s a difference between being easy and being simple. This business is incredibly simple. The part that gets hard is the part of being consistent and Matt, you got that, right? The consistency is there so again, I think that that is a huge take away is just being consistent. So, right now Matt’s just driving for dollars in terms of lead generation, right? Are you pulling any lists and texting too?
Matt: Yes, I-
David: You’re doing both okay.
Matt: I pull a couple from Propstream.
David: But you’re just getting started though right? So here’s the coolest part, there’s like 50 different ways to find these motivated sellers, all right? Matt didn’t try to do 50 ways, he picked 2. Let’s do a little deep, let’s pull some lists and then we’re going to text them. It’s essentially two different lead sources and that’s all it takes to get started guys, you know Mike and I typically aren’t really pursuing more than maybe four or five at any given time anyway, either. There’s really no reason to but I think the lesson here is all of these ways of going about finding leads work, all of them, it’s just are you going to be consistent in those marketing methods? Right? So Matt, thanks again for coming on, a massive congrats. Dude, 18 grand? That’s massive, that’s massive. I think we were talking about this the other day, maybe a week ago. If you are a, you know, minimum wage employee and you’re making $10 an hour, right? $10 an hour times 40 hours a week is 400. This isn’t even with taxes and let’s say you work a 52-week year so you don’t take a break, that’s 20,800. After taxes, you’re really only probably bringing in about 16 grand, you know, you just made a whole year’s worth of income of a minimum wage individual.
David: And that is just something crazy to think about. I mean literally an entire year and you’re just getting started. That’s pretty awesome.
David: Pretty awesome. Well Matt, thanks again for coming on, any parting words for the audience? Basically, let’s do this. If you are watching this right now and you’re listening to Matt tell his story, you know, what piece of advice would you be able to give to them Matt if they are trying to get their first deal?
Matt: I think it’s keep it simple, you know, I’ve listened to- when I’m driving, I try and listen to podcasts and stuff like that and there’s some I purposely turn off because they start talking about sub2’s and owner fine- you know, a lot of stuff that I just really don’t know about yet and I just keep it simple. I’m finding leads, texting following up and everybody I talked to, I try and make an offer to.
David: Man, you nailed it, you nailed it.
Matt: Yeah, don’t get into all that other stuff early on, just try and keep doing the same stuff over and over again.
David: Over and over again, so pick a couple different ways of marketing guys, maybe start with one, right? No big deal.
David: Just be consistent with it and the confidence will come, the deals will come. It’s really not that hard, you just got to be consistent. That’s literally the number one thing that is going to separate those who do a lot of deals from those who don’t do any deals at all is just there’s consistency there, right? Matt didn’t give up after 3 weeks of not doing a deal. He didn’t give up after 6 weeks of not doing a deal, it took him 8. That’s extremely fast and now he’s got 3 others under contract so you can hopefully see how this snowballs. This business is so fun, and now you got money to put into marketing Matt, so I don’t [inaudible] you stop you’re driving for dollars or even slow, keep it going but if you wanted to add a cold call or virtual assistant or another virtual assistant to help with follow-up or whatever, you now have the funds available to do so. I love it. Matt, congratulations, my friend, that’s awesome.
Matt: Thank you.
Mike: Congrats and thanks for coming on and sharing your story. If you want- do you want people to reach out to you? You’re welcome to share contact info, we can throw it in the show notes.
David: Yeah, you got social media handles, something along those lines? Throw it out there man.
Matt: Yeah, well I’m on Facebook, just look up my name, I guess and email firstname.lastname@example.org.
David: And guys, Matt’s up in the Virginia area so if you are watching and you, you know, want to partner with Matt on a deal or maybe, you know, maybe Matt has a buyer for one of yours, or maybe you have a big buyers list that you can maybe help Matt with in terms of helping him sell some of his deals, definitely connect with them. Doesn’t matter if you live in that area of the country or not, if you are doing deals in that area, that’s really what matters. So again Matt, thanks for coming on, 18K wholesale deal case study. Until next time guys, signing off.
Matt: Thanks guys.
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