Ask Matt Larson A Question

Thanks for the feedback....

still not sure about question #3 and working out of state - more specifically how do you narrow down where to start researching and building your power team to invest out of state? Did I miss something in your response?

Matt says start with a REA from that area as they know the market conditions - but again - how do you narrow down to that area in any given state?

............
moving forward as there's no going back!

Would like to know if you are still giving advice on here, and if so, do you have any nuggets of wisdom about bird dogging? Thank you!

I am a 4month student with the academy and my motivation is starting to trend
down.Don't seem to lock down any cash buyers w my classified ads and bandit
signs.I'm doing what my coach wants,seems like I keep chasing my tail.Would like some advice.
Thanks.

Hey Matt...
What a goldmine of information you have left on this thread! I'm only on page 3, but I will read it ALL. Thank you so much for having taken the time to create this thread and fill it with information for us newbies to find.

Cheers,
Aniko

Just listened to your mentor call from Sept. 19th. Awesome tips. Very inspiring indeed.

Pat

Hi Matt,
The final Rockbottom Blueprint call was awesome as were all the calls.
I started calling For Rent ads and the ones I got an answer went well, but I got several answering machines. I wanted to know if you hang up and callback later or leave a message and what you say?

Thank you, Scott Klick

I found a great 3 office/1 floor bldg and I finally got the nerve to pick up the phone and call both owners (divorced) and their attorney as well. The ex-wife is willing to assist finance her 50% share of the property and when I spoke to the Mr. he was shocked!! But is willing to cooperate if the price is right.

Details:
3 offices in 1 dwelling, parking for 29 cars,needs at repairs between $25k-$35k, and the asking price was $900k 4 years ago. Asking price is $500k.
The location is a great vicinity in central Florida that is 1 mile from a major hospital and highways, very busy vicinity with offices all around.

Do you have any commercial buyers? The owner also offered me a residential 4bed/2bath as well located across the street from the commercial bldg. I will be looking at both this week.
The residential is as follows:
4 bed/2.5 baths, sqft 1,653, Lot=16,250 sqft
.373 acres, built 1953.
estimate = $136,900
Zillow estimate = $138,200
eppraisal estimate = $125,435
Thanks
Liz Lyn

Hey, Matt

I'm glad I found you on DG.com Its a blessing to know youre on here helping people.

My question is; when it comes to the lease option described by Greg Murphy on the Gain the Edge 10 dvd. Can I just use the four papers he showed us to make the deal happen or do I need any other documents to finalize a deal? If I do, do I have to get those documents from a real-estate agent? Cause none of the Agents in the Muncie Indiana area are willing to work with investors. They all think you're trying to step on there toes. Now I feel My only option to getting my buyers list up (since I'm a beginner) is to talk to some this auctioneer guy I know. Its hard getting started here but I'm determined.

I greatly appreciate the help! God Bless

Hey Matt,
I need help with website setup. Any suggestions?
Ive been through RBBP & ALL calls. Excellent stuff!
Got my domain but dont really know how simple to keep it.
I want to keep sellers & buyers separate on my site.
Hosting & Content management software????
I greatly appreciate what you have done for me so far!!
Thanks a Mil
Mike

Hi, i read your comments gives me more confidence doing this Real Estate...I'm goin to go to Dean's Academy next month, Im here in Taylor, MI. Im excited to Real Estate... thanks! God Bless... Farrah

Matt,i attended an "EDGE" EVENT here in So California and received an "empowering conversations" DVD at the event in which you are the 1st interview with Dean....I WOULD like to buy your REPS cd/dvd but have been unable to locate info on how to order it....please let me know how to get it as you obviously know your stuff,thank you!........R Jeroel Johnson

The yellow book in the upper right hand corner of this page. It has everything REPS has in it and fully updated.

thank you very much for the info,God Bless

Hi Matt,

Thank you for taking the time to answer my post. I've been working in the California Central Valley (Bakersfield) market for the last three months. It has been extremely difficult because inventory is so low. I've put out 25 bandit signs and got three calls; however, the sellers just aren't motivated to sell. The prices that the sellers are asking are ridiculously high, almost double what the comps reflect. (By the way, since I've put out my bandit signs, several other investors started putting bandit signs next to my signs.) I also submitted over 40 offers on properties listed on the MLS and got 3 counter offers; however, after repair costs, the prices aren't low enough for me to assign the deals. Again, the sellers will not budge on the price, they rather have the properties sit on the market than sell to me. There aren't a lot of inventory both on the MLS and FSBOs. I am getting really frustrated and discouraged. Do you think I should continue with this area or invest in a different area in California or invest out of state. Any advise you offer is greatly appreciated. Thank you!

Belle

Matt Larson:
I have heard about your 25:1 Strategy, but cannot find it defined here in the web site.
Can you point me in the right direction?
Thank you.

Matt
where is the letter to the realtor? I was hoping to copy and paste it to agents in my area.
thanks, jeff

Hay Matt
#1
My question is ,once I have my realtor & I give them what I am looking for
starter homes,as-is,vacent & price reduction & I get the 40-50 listings & I filter the 40-50 down to the 5-10 that I will make an offer on,where does the next 40-50 listings come from without duplicating previous listings.

#2
Lets say I get a property under contract with the seller,now I need to offer to my buyers list (lets say I got a property worth 100,000 & I get under contract for 50,000)do I say I have a property I got for 50K you can have it for 60K or do I just say I have a property worth 100K & will take 60K do they need to know what I locked it up for.

Thanks for all your help

Matt B

Hi Matt,
I live in NJ, and am just starting out. I know that NJ is not the best place to look for real estate right now, where would you recommend that I try to start out in the wholesale market? Should I stay local or would it be better to venture out in a different area of the country?

Any help would be appreciated!
Amy H

Hi Matt,

Thanks so much for the information. My wife and I are investing here in Texas and would like to know what areas your investing in? Also what do you look for in the deals that you are doing here?

We are working on assignments of contracts and have just recently mailed out letters to cash buyers that we hope will turn into a business relationship.

Do you have any extra pointers that you think could help us in this process?

Thanks

Hey Matt.I'm just getting started and I was wounding what's the fastest most effective way to start building a buyers list today!!

Hey Matt, can you inform me on what contracts to use for a lease purchase deal. Do I use 2 separate contracts, one for the seller & one for the tenant buyer? Also I'm confused about certain things involving lease purchase. I really like to do what you are doing, as far as getting paid 3 ways, in the beginning, in the middle and in the end. Lastly who is responsible for paying all the closing & holding cost. I really can see myself doing lease purchase. I have no problem talking to sellers or people over the phone, however it seems like I'm letting alot of money slip through my hands.

The 25:1 still works.

Hi Chris,

Welcome and I just ran across this. In case you haven't been answered yet, I went through the Success Academy and it IS PMI. They are great! No scams.....

Good Luck, and take care of that baby boy!

-- Tina

Hi. Matt, my question would be,
when you go out of state to coach someone in real estate what steps do you take, in other words how do you prepare - I recall a story of you going to coach someone and had them going on a deal in as short as a week, in thier own town!! is there a way you can explain the steps you take to make that happen? I myself am going to visit a friend and thought I might as well see what I could do, but could use some help up front - I have asked this question of others with a few good replies but thought who better then the "Master" himself. hey thanks ahead of time not just for this but for all you do, and congrates on your accomplishments in your life with real estate.

Whats up Matt, If you would like to partner in the eastern pa region I would like to be a part of your team. I am a licensed realtor and have alto of contacts in my market area. I have lost a couple of good opportunities because I haven't been getting my buyers to move quick enough I guess. I have about 4 or 5 serious buyers right now and a list of about 36. I keep talking to them and can see that the relationships are starting to grow so that is a good thing. The lack of confidence in my buyer list limits my activity. I have no problem bringing deals in this territory if you have a need or desire. Hope to hear from you.

Matt,
We are looking for the best & most effective ways to build a buyers list.
We are about to start the Bandit signs. Looking for real estate investment clubs, making friends with the REO officer in our local banks. Any other ways that are working for you ?

Hi Tina,
My name is Carlos Nolasco I'm new with this website, I just read profit from real estate right now and something inside me tells me that what Deans and all you guys said in that books works, but I'm so scared to go from a reader to my first deal, I don't have any money so I would like to do assigments, I see that you are a superstar please any comment will help.
Thanks,
Carlos

I'm in so much debt and don't have much to eat. I purchased Dean's book 30-Days to Real Estate Cash and aspire to be like you. Thanks for reading.

Hi Matt...I'm new to the DG family and have seen/heard so much about you in both the training workshop I attended last month in MA. and in Dean's videos....

I'm wondering if you'd be able to answer the question below (I previously submitted it as a new topic in the "Everything Else" forum, but then saw your topic for asking you questions)....hope to hear from you...thanks!

**My Question:
When I attended one of Deans real estate workshops in Newton, MA...they covered LLC's and what the recommended structure should be so that most investing strategies/activities would be appropriately covered legally as well as for balance of tax advantages. The instructor recommended the following structure:

LLC partnership with a 1% owner being a C-corporation. So, for example, if myself and another person are 2 of the partners, then we'd be at 49.5%, 49.5%, and the remaining 1% to be owned by a separately set up C-corporation. The instructor was always emphasizing "anonimity" and tax benefits. I'm currently as we speak setting up my LLC with my attorney, but don't know whether the 1% c-corporation portion is necessary at this time. My investing focus for the near future are wholesaling assignments, purchase and quick flip (no rehab), and purchase for rehab and resale...I don't anticipate hold/rental properties yet until I build up some more capital...

Anyone else wondering this or have any further information on how this 1% c-corporation piece comes into play?? and whether it's a piece I should be worrying about now or later?? Does it have anything to do with IRS views of "dealer" status versus "investor" status....confused, please help!! Thanks!!

Matt, I just finished watching the live telecast of "The EDGE 2012" and thought it was great. Here's my question: I'm probably the most motivated I have ever been about something in many,many years. I.m 68 years old and my wife and I are on Social Security and just getting The EDGE money took a few sacrifices. The Success Academy is three times that amount and my wife is very hesitant on spending that much money on something like the Acadamey. I can get a signature loan for that amount ($1495.00)but God is it scarry at my age. I respect your word, tell me what you think, is it a solid Investment at my age or should I spend the rest of my time here living the life I have right now which is not that bad.We live not wanting for much but I have this Great Urge to do more with my life and jump head first into Real Estate. What do you think. Waiting to hear from you at your conviance. Thanks Matt. The Old Man Johnny