Ask Matt Larson A Question

I want to know if you use a professional looking bandit sign to recruit properties. What do you use to
make it? The realtor/broker I asked for the cash properties sold for cash in last 90 days said she didn't know if she could still get that for me. Is she
lying? A mentor from Score told me I could get them from a Title Company. What do you think? Do you have a flyer sample I can put up on bulletin boards in our area? or just put "I buy houses - Any Condition.

Thanks, Kathleen

Kathleen,

I mean this in a nice way, I believe you're asking the wrong guy. Matt does more of how to negate lower offers and what to look for in properties and such. The flyer questions you want to ask/search for Greg Murphy and his posts. You can also read his chapter in Deans book "Profit from RE right now!"
Though I would suggest reading some of Matt's posts as he's one of Deans most successful students and it never hurts to take a little from every source on here.
So again, look up Greg Murphy for more info on signs and local advertising for the kinds of deals you want to be involved with.

CAM-

Matt, Thank you for this opportunity and your inspiration. I am looking to buy my first home and have been pre approved a for $230,000 mortgage. I am just wondering what to do? im looking for a foreclosure/REO that i can get under value and live in it for a year or two, while making some renovations and upgrades to it. what would you do? should i look for a house t o just buy and flip, should i just put the house up for sale immideately after the few renovations and touch ups and see if anyone bites (is it bad to just have a house on the market even if i dont care if it sells right away or not)? i am also looking to try and make an assignment deal. I really have been interested and reaading about REI for years now and just have not been able to get myself to act on it. im just afraid to make a bad deal and be stuck with a payment or house i cant afford to pay. with assigning - is it as simple as finding a third party buyer after i get the agreed upon contract from the seller? do i get stuck with the house if i cant find a buyer in the 30-90 day alotted time? how does the closing go? do i just hand the contraqct over to the third party and he cuts me a check for my profit on the deal or am i involved with closing or escrow. i just have sopo many uncertainties that make me scared and make me not act, im trying to get the courage to move past this and become a success like yourself. I feel as this is the career i need to be in and the path i have to take in my life. thanks for your help.

Matt was talking about his bandit signs and how successful they were. I want to
know what he uses to make them and if they are professionally made. It's an appropriate question since he was promoting the use of bandit signs on Tuesday's
training. Am I going to get an answer from him or did he pass this on to you. I would prefer to hear what he has to say since he stated he was having a huge success
with bandit signs.

So can I hear from Matt. If I can't, why. I thought this was his blog and that he
is answering our questions.

Respectfully,
Kathleen

Matt was talking about his bandit signs and how successful they were. I want to
know what he uses to make them and if they are professionally made. It's an appropriate question since he was promoting the use of bandit signs on Tuesday's
training. Am I going to get an answer from him or did he pass this on to you. I would prefer to hear what he has to say since he stated he was having a huge success
with bandit signs.

So can I hear from Matt. If I can't, why. I thought this was his blog and that he
is answering our questions.

Respectfully,
Kathleen

Thanks Matt I remember now you also mentioned that on the call.

Tony

Hey Matt,
Do you have a list or form that you use when calling banks? The questions you ask to qualify them? Is so would you mind passing it on? Also do you have a form you use to qualify other leads, sellers and buyers?
Thanks Shelly

Hello Matt, I've recently followed you're advice on using Realtors to
find great deals from this Septembers Conference call, it is VERY effective.

However, how do you go about assigning a deal you've just found from
a Realtor that is listed with a Realty Company? Do you offer to use
you're own contract or can you assign their standard purchase and sales
agreement?

Its been on my mind for a while.
Anything will help.

Cordially,

Adam M.

Kathleen I just use yellow corrogated plastic signs. I hand write in "I buy House Any COndition!"

The hand written signs seem to produce more results.

Matt

When you are assigning a deal you get off the MLS you have to use the standard Realtor contract for your state. Once you get an accepted contract then you just use the assignment of contract form. The one off this site will work fine.

I wouldn't buy anything that will take 2 years to fix up and sell. Focus on assignments. Build a buyers list first so you don't have problems assigning the property. Your buyers will tell you what to buy. If you that afraid start bird dogging in the beginning.

Matt

I think its really awesome that you are back. Don't know how you do it with all that,s going on. But your words of wisdom are appreciated by many. Julie said HI.

Randy

Hi Matt,

Question about assignment. I was able to lock in a few properties but the problem is that these deals (~50% off ARV) are somewhat common in the area I work with (Newark, NJ) , which makes it hard for me to assign even though I build up a nice list of buyers. My question is then, should I focus on these neighborhoods where foreclosures are rampant and deals are everywhere or pick better neighborhoods with less houses that are in trouble?

I hate to sound like a broken record but this is what works. You absolutley must focus on your buyers list. If you focus on the buyers list then the problems you are having right now will go away. It does not matter if you get deals at 50% off or even more if you don't have a solid cash buyers list of people hungary for deals.

Matt

Thanks for the ecouraging words. You get to 50 deals yet?

Matt

Hi Matt,
Why would one do a double closing opposed to assigning a contract over to a buyer and collecting your fee?
I''m not sure if this is a preference or if it is done to get around some kind of limitation.

Some deals may not allow an assignment. Foreclosure deals where I am are very hard to assign, but a double close is doable. Essentially its an assignment, but if you just want to collect a (fee) negotiate that with your buyer and get him to sign a non-circumvent on your property to protect yourself.

Hey Matt,

Do you still fly out to people to teach them? How much do or did you charge for that?

I hope you are not too busy to take good care of your health by working out, eating well, sleeping well, resting enough and creating memories with your friends and loved ones.

I find that to be the biggest challenge, when you are out there trying to do good for yourself.

I am a personal trainer with an in-home training business. I was doing so well that the stress almost killed me. I would leave the house before my 3 year old daughter woke up and come home late at night, when she was already asleep.

I was totally run down and I missed my family. That' s why I started real estate, so I could be home with my family. Of course now I am doing both, because I love training people! Haha!

I found the balance and I love my life more than ever now.

Hey, maybe I can fly out to you and teach you and your staff how to work out, eat right and find balance and you can teach me real estate!

Anyway, Matt, thanks for being here for us and congrats on making it big!

God bless!

Anja

Hi Matt.
I have been working on this house in my neighborhood and it turns out to be a foreclosure that went all the way. And now Freddie own's it. How do I go about making a offer? I found this out bye calling the local sherif's office and tax collector's office.
Thank you

Hi Matt,

My name is Robert an I have ads looking for investors in which A gentleman e-mailed me back expressing to me that he is a private investor of business and realestate. I asked him what kind of return he he wanted and or yield on a loan. He said he would like 5% to 15% depending on the loan amount and for how long. My question is I'm not sure what to do with him as an investor, because it seemes he is just into funding instead of buying properties, and one other thing he works out of Leeds England. How can you tell if an investor is who they say they are, I mean what if i would do hours of leg work for a flip or any deal to find out later I'm on my own hopefully not at the point I would really screw things up for myself as well as the a homeowner. Thanks Matt
Sincerely, Robert

As instructed in the 9/14/2010 call - my realtor has found 128 cash purchases in the last 90 days with all the information in 9/14 conference call. (She says she dones't have access to the phone numbers). 11 of the 128 cash purchases were LLCs'.

What methods do I use to contact the cash buyers?

Just trying to follow directions per the 9/14/10 conference call.

& Tonight is my first RIE meeing and I'm SO EXCITED!!!

Thank you!
Me InAZ

I didn't take no for answer. I am not going to say that this doesn't work in my area but I will say that I know that you recommended REMAX and Keller Williams. I live in a town of about 30,000 - 40,000 people. Thing is Matt I have only one office that I know of in Roswell New Mexico where I live and then the other offices are in other surrounding cities. Here the deal I ran into. I talk to a Broker in my area for REMAX and when I told here to give me all the CASH BUYERS IN THE LAST 6 MONTHS FROM THE MLS and she told me that was confidential information funny thing is She told me their office worked with investors.

So I got a little frustrated and I just told that she was a little uneducated and that to call the 1 800 MLS HotLine and she would be more informed on what to do. She did get a little offended when I told her she was a little uneducated and She hung up on me. I just thought REMAX WAS investor friendly? So as persistent as I am I called another Real Estate Agency - Prudential Grieves Group Realtors. I talked to the receptionist and told her what I was look for and she directed me to another lady which I told my goal was to find properties TO BUY FIX AND SELL IN LESS THAN 30 DAYS AND MAKE A PROFIT OF $20,000 - $25,000 AND THAT I NEEDED CASH BUYERS OFF THE MLS FROM NOW UNTIL 6 MONTHS BACK.

SHE WAS VERY AGREEABLE AND SAID SHE WOULD HAVE A ANOTHER AGENT THAT WORKED WITH INVESTORS ALL THE TIME GIVE ME A CALL BACK SOON. Also there are no Keller Williams Agencies in Roswell New Mexico and it seem like there are Keller Williams Agencies in Alb, NM which is a lot bigger city Than where I live. My question is Why did the REMAX BROKER I CALLED TELL ME THAT HER OFFICE WORKED WITH RE INVESTORS BUT THEN WHY DID SHE SAY IT WAS CONFIDENTIAL FOR HER TO GIVE ME THE CASH BUYERS OFF OF THE MLS?? I am just confused on that part even more so cause you recommended REMAX. PLEAS HELP ME UNDERSTAND THIS. THANKS.

P.S. I DID HERE YOU TALK ABOUT HOW MUCH FASTER, EASIER AND MORE IT IS TO PULL CASH BUYERS IF YOU HAVE THE SET FOR LIFE SYSTEM AND YES I DO AS A MATTER A FACT I ALSO WAS FORTUNATE ENOUGH TO GET THE EDGE 2010 VIDEOS AS WELL. I AM JUST GETTING CASH BUYER THE MANUEL WAY FIRST.
Daniel In New Mexico

Matt is out of the office so i am filling in for him. The answer to your first question is: As a coach we refer our clients to agents that work with investors. we ask the realtor to show us listings that we can make $25 to $30 thousand dollars on. These could be Short sales or REO's or properties that have been on the market for more than 120 days. If the realtor doesn't have any properties that you can buy at a discount, move on to another one.

Matt is out of the office and i was asked to help answer some of his questions. One of Matts current strategies is to use people who are "Lead Generators." This frees him up to make more deals. Using someone who "Is looking for something to do" like a soccer mom or a recently retired person is a good person to enlist to help you generate leads. Charlie

Matt is out of the office so i am helping by answering some of his mail. A Short Sale needs to be purchased with some sort of financing. If you qualify for a loan from FHA, like having low income, you could buy without any money out of your pocket. Another possibility is to use a program like Nehemiah where a third party makes the down payment and the seller sells you the property at full market value and agrees to pay the down payment back to the their party. Other than that, at this time, no-money down loans aren't very prevalent.

Matt is out of the office and asked me to answer some of his mail. Many web sites offer Proof of funds letter that are acceptable when making an offer to a bank. Try www.fbcashfunding.com

Hi Matt,
I am new to these investment strategies. I am a licensed NJ Real Estate agent and am having a hard time trying to stop thinking like a Realtor and start thinking like an Investor. I don't think it is legal for me to do assignments...what are your thoughts on that? I don't know how I could approach a FSBO as an investor... as I would have to disclose that I am a licensed Realtor. I don't think they would be very trusting? Do you ever deal with mortgage brokers? We use them all the time, more so than banks...I guess it would depend upon the deal...any thoughts on that? I bought the Edge 2010...you have definitely perfected the craft of investing... I also have access to the MLS on my home computer...I look at properties all the time...I just have to figure out which way to go first. I know I need my Buyers. Which I know a lot of people with $$$...it's all in approaching them with the deal. Well I am going to be working on this till I get a deal done...
Thanks for you information and inspiration,
Barbara

Hi matt awsome Conference call.Got my new agent to pull up the props that have been sold for cash n the last 180 days. Have address &list price an sold price need to contact owners besides tax assesor which gives out limited info any suggestions agent seems to b handycap n this area also need somthn that I can use the realtors services more effectively an gain some inside knownledge for future ref. Thanks DP.

Hello, Matt! You and Dean are our two HEROES. Thank you for taking the time to answer questions! We are very new, very excited and I'm very nervous..we want (and NEED) to make this happen SO much.

In Dean's book, it says to be sure the forms are legal in our state. What is the best way to do this? We live in N.C. and I've set a $50 consultation appt with a Real Estate Atty. Is that the way to do this? If he says we can't use one or more of Dean's forms, where do we get the correct ones for our state?

Also, do you have any tips of what else we should ask the R.E. Atty in our 30 minute session?

OH...and do you recommend we use an atty in N.C. for setting up our LLC, instead of using LegalZoom?

Thanks so much for all of your encouragement, Matt! We hope to meet you and Dean someday! Deb & Mike

Hey Matt I really enjoyed the info of which you shared on last tuesdays monthly conference call. I heard you say that you joined Deans support
team when you got started and you really bugged them. Is this the recom-
mended way to getting strarted? I don't have any credit cards or funds
saved up to particapate in this program. But if you think that this is
the best way to getting started and becoming successful then I'll just
have to do what ever it takes to be successful.Just want to know what you
think.