Weekly Wisdom #246 - Unfair Advantage #3

Matt make it look so simple, I know the 25: 1 method will work if I apply myself, but I need to look for another Realtor and more than one. Thank you Matt and Dean, another good lesson.

QUIESTION GUYS! If I'm gonna be making 5 offers in one week that means that I need to see 5 homes and get 5 quotes from one contractor? (or 5 different contractors?)... how I dont get it... if I have little time how can I make lots of offers if im unable to see this homes?

I signed up for Deans Inner Circle and my coach told me to look at each home before making an offer... I'm getting confused... I'm not scare to make multiple offers a week.. I just dont have time to see 5 homes a week...

I need some help =(

thanks

Roman

Thanks Dean & Matt great information on 25:1

I enjoy the weekly wisdoms.

Very appreciative put in place with Matt explaning it .

If I buy at 20% below ASKING price, (that's what Matt said in the video), I MUST be selling to someone who is going to LIVE in it, correct? There is just NOT enough money for an investor to 1. pay realtor fees buying and selling
2. pay my assignment fee
3. rehab
4. holding/closing costs, etc.
In 3 months, the house might be worth a LITTLE more than what was being asked but not that much. They are always asking WAY more than FMV. (Well, at least in Seattle and surrounding areas.)I need some serious expounding on this. Thanks a heap.

Matt,
Thank you for the wealth of info about 25:1.
You made it sound simple, as you explained it & it is.

Question about the 14 day house inspection, do they have to be paid myself upfront? If so,how much they usually chg.? This sound stupid but I have to ask.

Thank again Dean for good information and a great support system!

I have been reading the 30 days book and this video really helped pull the 25:1 strategy all together for me. Thanks so much Dean and Matt for this!

Sonya

I got the concept of 25:1. I got the REA. But I get hung up on making the offers. I will screen the listings and then stop. I am taking too much time running the numbers. So when I put in offers what papers or contracts are necessary? Will the REA figure that out for me?

Matt, you did I a great explanation as always and please don't take me wrong on this one, maybe it's just me... I have interviewed many realtors with no luck, some don't like investors, they think we are wasting their time, or promises to help and disappear, others send complete different criteria and so on. So, When I finally got one that was willing to work, he simply deposited my earnest money check (it bounced) and then he stated that its illegal to do assignment in New Jersey. So, he is out. I have heard the same from other agencies. I just don't know where to go anymore. I know the 25-1 works but I am finding really hard to offer on mls...
Thank you so much for keeping the good work!

Thanks Dean and Matt
this will help with not over cookin my RE agent and as always I am motivated by each of your videos to work that much harder

I was led by the Spirit of God to go back and look at all of Dean's Blogs dated back to the week before Memorial Day. That was the day that we were introduced to the D/G Family. My Girlfriend (Esther Walker), and I became Diamond Students the next week and we joined the Inter-Circle three weeks ago! Wow, what a journey! We never worked in Real Estate, so everything has been new to us, but we are determine to be financial free, teach our children the D/G way and leave a lasting legacy for both of our families for generations to come. But more important than all that, our hearts desire is to further the kingdom of God with our tithes and offerings and serve in our ministry until the day of Jesus Christ.
Now, to the subject at hand. I have decided to diet from over analyzing every situation that I am confronted with in this business. I have to trust the D/G family, My Coach, Eric Roberts, but more important, I have to trust the Spirit of God that lives on the inside of me. I have been on a fast track to learn the D/G way. I have learned a lot, because I am being diligent about our business. I work two jobs and I manage to put in 5-8 hours a day into the real estate business. (Saturday I put in 12 hours!) I am ready to make my first deal, but first I had to stop over analyzing every detail and rely on what I been taught, what I have learned and know that the Greater One lives on the inside of me! We are hungry for success and now it time to step out on faith with the Power Team that God has blessed us with and go out and corner the real estate market in Atlanta, GA! WE BELIEVE!!!
Bernard(Mk.11:24)and Esther

Thank you Dean and Matt for all the straight forward information. Kathy Wensel

THANK YOU MATT!!!!!!

That is exactly what I am doing here in Denver. You can see a shift in my buyers from hard numbers, MUST make a certain percentage buyers to speculative buyers.
25/1 works!

Thanks,
Michael

This is the "best-yet" -- or else it's finally starting to make sense to me -- or both!
Thank you.

And I'm so delighted you do. Plenty of pieces in this pie! Make offers. and as my mentor Matt "Cheaper! Better! Faster!"
go go go

Hi Dean & Matt I was just going over the weekly blogs and as I did so I found something I messed which is always good and that was Matts video on to determine comps I tried to go back to last weeks blog but in there he mentions a video would it be possible to get the link to that or pointed in the right direction Thanks and as always great stuff Love coming here may God Bless )

Dean & Matt,
thanks for reviewing the 25:1 for us again. it's great to be refresh on what we're suppose to do to make this work for us. our goal is 1 offer a day & in july we're 10 offers behind so we're working to catch up but we need to remember that we don't want to burn our realtors.

thanks again!
Jeff & Lilian
chicago

Hey,

About the 25:1 Strategy:

When you ask the Realtor to provide you with the 40 listings that meet the criteria that Matt explains and then tell them that you'll take it from here and that there work is done, Where are they making their commission? Are we using the Realtor for buying the accepted property or Selling? My Question is: When I tell the Realtor Thanks for the 40 listings and I'll take it from here, what do I tell the realtor following that? When do I plan to use them? Am I using then to make my offers after I had narrowed it my search down?

Thanks!
Justin-

Justin,
Don't feel bad I had to review the 25:1 strategy a few times. I think what Matt was getting to is that you make it sound like you are telling the REA that s/he doesn't have to show all 40. You weed throught the comments and select your 6-8 THEN you go see those and use the REA to make offers on those 6-8 if you still like the conditions. Just remember not all are a good deal. Hope that helps.

Thanks for your reply, that makes much more sense to me! Have a Great Day!

this was an excellent clarification, thank you.

Dear Dean, again you come to the front with a great snapshot of how to use the 25 to 1 concept.
Great info for how to continue with moving forward to continued success.
Thanks Again,
Kevin

Awesome info yet again and a great job explaining the stratagies by Matt. Ty so much guys;-)

I think I'm beginning to get it--the 25:1 concept. I've walked through, at least, 25 houses in the last 2 weeks. Besides that, I had to sit with the realtor in her office for 2.5 hours while she had me look at everything she thought might work. Then she made appointments for the next day! I get it! If they are empty, she won't have nearly as much trouble making appointments. Even though I told her I wanted rehab materials, she took me to several that were in stellar condition--but the price had been reduced. She will be glad to talk to me tomorrow! Thanks, a bunch!!

So well explained then from years past - this seems, for me anyway, to bring it together much clearer then before, I might just have to try this again, thanks for keeping on, keeping on

Thank you Dean and Matt,
Even though I have heard and read about the 25:1 strategy through your books and trainings, it is really helpful to have it in a Weekly to be able to replay it as often as I need to!
I love these Unfair Advantage videos that you are doing for us! Keep them coming!

So grateful for everything I've learned from this site!
Valerie

Dean the last and only deal that I closed was in 2011 with a "partner" that "cheated" me out of money "at closing". $1500 to be exact. I want to do this "without" a "partner". I am going to start this time with the "motivated" sellers.

Thank you for your encouragement...

Thank you. It's great to hear these messages again. It's motivating!