Analyzing a deed is a fundamental step in due diligence before purchasing a property, whether it’s a house or land.
It provides crucial information about ownership, rights, restrictions, and potential issues that could significantly impact the buying process and the future ownership experience.
If you aren’t well-versed in how to read a deed, we always recommend seeking legal assistance or consulting with a real estate
professional to ensure a comprehensive understanding of the deed and its implications before making a purchase.
We are going to look at the three types of deeds that we encounter often in land investing, and we will walk you through some examples so you get better understanding before buying a property.
The first type of deed we are going to look at is the one we all HOPE to have. They are the most simple to analyze and usually do not cause a lot of hang-ups in the buying process.
These list everyone that is supposed to be on the deed, they are alive, and they have also signed the purchase agreement.
The example below shows what these typically look like.
The Grantee, as circled below, is the individual that you are buying the property from. This individual should also be the one who signed the purchase agreement. This example lists only one owner and they are in fact alive, which can be found out via family members or online obituaries.
The next deed we are going to look at is a JTROS, or Joint Tenant with Right of Survivorship.
In this scenario, there will likely have been two individuals on the deed, but in the likelihood of a death, the deed will be transferred to the other individual.
In order for the remaining individual to sell the property, they will only need a death certificate and then they can sign the purchase agreement.
The example below, the portion marked in red is the verbiage used to identify this deed as a JTROS. This may be written differently depending on the state, but generally you will see verbiage used similar to this example.
“Dwight E. Williams and Patricia L. Williams (herein referred to as Grantee) for and during their joint lives and upon the death of either of them, then to the survivor of them in free simple…”
In this situation, we have two people listed on a deed as the Grantees with NO right of survivorship. Typically it is going to go to the deceased individual’s heir(s).
In the below example, we have Robert W. Gilmore & Patricia A. Mickle. The verbiage we are interested in is “…behoof of the Grantee and the Grantee’s heirs and assigns IN FEE SIMPLE.”
In other words, if Patricia passes away, half of the property will belong to Robert, and the other half will belong to Patricia’s heirs.
Knowing how to analyze different types of deeds and seeing the verbiage used will help you prepare for the deeds you may come across while doing a deal.
We recommend NOT throwing away a deal if you get a deed back that doesn’t have all parties listed.
With proper due diligence and digging, you can usually find what you are looking for to get the deal to go through. You may even be surprised at how much you can make if you push forward!
Dan: Welcome to the real estate investing podcast, where we help you unlock your potential freedom through land investing, real estate investing, and entrepreneurship. Hey everyone, welcome back to the real estate investing podcast. Today, we have our special guest once again, Matt Pamphilus. Matt, welcome back to the show.
Matt: Thanks for having me. Happy to be back.
Dan: So you were on back, I think, 714 or so back in July. By then, maybe you’ve saw through a couple of deals, maybe none. But give us your business update on your land flipping career since that last interview in July.
Matt: Yeah. So since the last time we spoke, uh, we’ve done a few deals.
I think three deals so far, uh, two of which were wholesale deals. One of which was a deal we sold on a note, you guys actually funded it for me, which we can discuss in more detail. Um, we have about four deals in the pipeline right now, um, and quickly on those two wholesale deals, um, I come from a wholesaling background, so I wanted to, you know, there’s a lot of spread in the deal, so, uh, I wanted to, Just do quick deals and get some more money for our marketing.
So that’s why I decided to wholesale them instead of, uh, you know, take them through the entire process. Um, and then, yeah, we have like four deals under contract that we’re, uh, trying to sell. Actually two of them are under contract with buyers and then two more are subdivide plays. Um, and I think that those are going to move pretty quick.
Dan: Nice. And let’s talk about your acquisition for this. So you have four deals. You said two are under contract on this, on the disposition side.
Matt: Yes. So we’re under contract on a 15 acre property that I generated from, uh, an SMS campaign. And, uh, we’re closing actually on Tuesday. So looking forward to getting that one closed.
And then the second deal, that one, I believe is sometime in December. Which, it’s a finance buyer, so, you know, fingers crossed that we’re gonna actually close with them. But we’ll see.
Dan: Is that the, the mobile home land combo package?
Matt: Yeah, it’s Clayton Homes. They’re getting 100 percent financing, so.
Hopefully they close. We’ll see.
Dan: Well, let’s talk about how you, how you’re getting these deals now. So you have, it seems like a lot of profit in your pipeline. These four deals are bigger size from what I remember and what I looked at. And they’re, they’re very, very profitable deals. How are you acquiring these and what’s that process look like?
Cause I’ve know you’ve incorporated some texting since last time we talked potentially. And some text follow up and mail and a combination of the both. So let’s talk about that. Yeah.
Matt: Yeah. So definitely the main source of generating deals is, uh, mail. I mean, I do texting because like I said, I have a wholesaling background and that was, you know, the major way in which we’ve acquired every single deal.
Up until joining, you know, your guys’s program, uh, mail was newer for me, but yeah, throughout the year, mail has definitely generated more deals. Um, texting, my texting platform is actually down right now. I need to work on getting that back up. Uh, and then we’re going to go full throttle and, you know, hit some more of these lists that we’ve got.
Um, but mail has, you know, it’s the highest quality leads come from mail. Um, texting is good, especially, you know, if you have extra bandwidth and are able to actually like monitor lists throughout the day. Um, so I, this is my full time thing, so I have the bandwidth to do so. Um, yeah, that’s, that’s pretty much it.
I actually have done a couple cold call campaigns as well. Nothing too extensive. But sometimes I’m, you know, not doing anything. So I’ll just hop on the phone, try and reach people, especially some bigger deals. Uh, I haven’t, you know, had any deals come to fruition from cold calling campaigns, but I’ve made super solid contact on some deals through cold calling.
Uh, and I will probably implement that. I may have said this on the last podcast, but I’m, I might implement that going forward. Um, I think. In order to do so, um, I would hire a VA in order, you know, to be on the phones six, eight hours a day, um, but I would want to hire somebody who’s got a very good American accent, um, because, you know, with the type of people that we’re reaching out to, they don’t necessarily, you know, this is just the reality, they don’t want to speak to somebody who is from, you know, maybe the Philippines who has an accent, they kind of are turned off by that, so, um, I probably will hire somebody that.
to do some, some cold calls, but that was really long answer to your question.
Dan: No, it makes sense. And that’s, I mean, we’ve run into the same thing you have and I think a lot of other people too, mail, once you start mailing it, you see the upsides of it and it’s so much less work compared to texting and you’re getting really qualified leads and you get really spoiled with mail.
So I think a lot of people can relate to that for sure. Since the last time you being on four months ago, Um, have you had any major shifts in your plans for the future? Just anything you’re doing or has anything come since, you know, major that since that last four where you’re, where it’s just a shift in your business in general?
Matt: Um, yeah, I mean, I would say a huge thing that I’m like recognizing and definitely implementing. I think I’ve made a mental switch. is, and I think I might have said this again the last time I was on here, but it’s, uh, it’s for me deal volume over prox profit maximization. It’s just so important because I think I’ve run into this experience where I’ll put something on the market.
I’m super amped about the price that I think I’m going to get and the projected profit, but projected profit is way different than realized profit. So, something that I’m doing is pricing very, um, competitively, and, you know, it might be the price that we ultimately end up at. You know, if I were to list it at 100 percent or 95 percent of market value, we might actually sell for 80%.
So, just immediately selling or listing for 80 or 85%, trying to move deals more quickly. Um, that’s something that I’m really implementing now, and I’m seeing that on two of the subdivide deals that we’re doing. Um, I’ve got a ton of interest. I’ve had people reach out to me like, Hey, you know, would you be willing to take this price, which is lower than our listed price?
And I’m just telling them, no, I’m sorry that we’re really competitively priced. Like this will sell. We’ve had a lot of interest. So let me know if you’re interested. And that mentality of like, I have more options. You’re you as a buyer, you know, you’re not, you’re, I have more of you. You’re not, you know, Great.
I don’t know how to phrase that, but you just like having, yeah, yeah. Leverage. Yeah, that’s exactly. Um, so that was a mindset, mindset shift. Um, in terms of other things that have happened since we last spoke, um, we’ve got a big deal closing on Tuesday. Like I said, um, we bought that one for 51, 500 approximately.
And that was an SMS campaign deal. And we’re under contract for one 35. So I’m doing a 75 25 profit split with my funder. Um, so we’ll end up netting just under 60K, which is, you know, definitely the biggest deal I’ve ever done. Um, pretty excited about that because, um, something that’s spoken a lot about in your guys podcasts and you guys harp on this is consistency in mail, which, to be frank, I haven’t had absolute consistency throughout this entire year.
Um, so I need to, I’m excited to have more money to be able to allocate directly. For, uh, marketing over the next five, six months. Uh, and then use profits from those deals in order to continue that consistency. Um, and yeah, I’m excited to have money actually allocated directly for my marketing so that there’s like a very good cadence of mail.
Um, and then like with that, doing SMS and cold calling, like I said.
Dan: Yeah. And one thing you touched on was, and then Ron, I’ll give it to you. One thing you touched on. was pricing more aggressively, getting more volume over maximizing the profit of a deal essentially. Um, and that’s one thing I want to bring back to the mail side guys to relate to everyone.
So if you, let’s just say you priced at 20 percent of market value, which a lot of people do in the land industry in general, they go after 20, 30 percent very cheap, right? So you’re buying a property for 25, 000 or 20, 000 and you’re going to be able to sell it for a hundred. That sounds great in theory.
And that’s a very, very profitable deal, but you might send out 5, 000 mailers. Or 3, 4, 000 mailers and only get one deal from that, right? So you make 80, 000 essentially of profit. But you do what Matt’s doing, get more aggressive on the pricing side, offer that 50, 000 or 45, 000 or whatever it is, and all of a sudden from 000 mailers, you’re getting four deals.
So your profit goes from 80, 000, as Matt was saying before, to now 200, 000 of profit from those four deals. And that’s the theory of just getting more volume over trying to maximize the profit on each deal.
Ron: Yeah, absolutely. That’s a good point, Dan. And like Matt was talking about, like, and then, when you, you can price, pricing competitively, turn those over, but, Matt, I want to talk about, like, uh, what has been, like, your volume?
You said you haven’t been overly consistent with the mail, and the crazy thing is, guys, like, Matt is extremely, as you hear with his deals, extremely successful in this business, and he still knows he can improve with consistency, um, probably with adding some more systems, maybe with adding some people.
But what has your volume been up? Let’s just say like the last four or five months, Matt, like what’s your mail volume been? What’s your texting volume been to get these deals?
Matt: Yeah, so I’m looking at my CRM right now. Uh, this year, I know you said the past couple months, but since I started, I’ve sent 33, 000, a little bit over 33, 000 mailers.
Um, let’s see, four months since, uh, we last spoke, I have a date, send a 719. I’ve probably sent like 10, 000, maybe a little under 10, 000. Um, and you know, I have had some counties that, you know, hit and have, you know, more deals come from that. Um, and then in terms of texting, I would say I try and hit. Like 10, 000 a month as well is what my limits are with the platform that I use, launch control.
So I try and always hit that. Uh, sometimes I don’t, sometimes I, I haven’t gotten to a point where I’m going higher than 10, 000 to upgrade my plan to like whatever the next thing is like 20, 000 a month. But, um, you know, maybe I’ll do that in the future and we’ll just keep getting more aggressive with that.
Ron: And you’re, you’re someone who like bleeds the most out of every single piece of mail that goes out, which I love. And I think that like provides a great future as you scale up your business. Um, to be frank guys, like if Matt starts sending 10, 000 every month instead of 10, 000 in the last three, three and a half months, whatever you want to say.
Like that’s when Matt’s going to four or five X his business. He’s going to be able to say no to some deals. I still want Matt attacking all the deals. But is that kind of what you’re looking at going forward, Matt? So you can be, I don’t, I don’t know what the numbers look like. Are you trying to do 10, 000 a month?
But what, what are you kind of looking at going forward?
Matt: Yeah, so what my tentative plan is, and I watched one of your guys’s podcast the other day where you were talking about mailing. I think that might have been sometime this week that you released it, but it, you know, made me change my mind. Um, you know, you can increase mail, but then it’s going to show you where in your process there’s holes, uh, where the weakest link is for, in terms of like your systems and operations.
So. Um, I’m fine with like seeing what’s going to break, but because I was thinking, let’s do 10, 000 a month and see what happens, but I think I’m, so this is what my tentative plan is. I’m going to do for the next five months. So November, December, and the next quarter, I’m going to do 6, 000 a month. And then ideally, um, Q2, I’ll be doing 10, 000 a month and then Q.
three of next year, 15 a month, 15, 000 a month, um, and then probably the same for Q4, but that might, that might shift. I’m not sure. I think it’s going to vary a lot based on what happens over the next five months, um, in terms of like deal flow. But again, like I said, I’m going to be allocating a specific amount.
So I intend on at least doing, uh, the 6, 000 a month. You know adjusting from there.
Ron: Yeah, that makes a lot of sense And what I was saying in that episode guys was like you increase mail everything else is gonna be increased You’re gonna have more deals which means you get a somewhere property Which means you’re gonna have more leads coming in on the buy and the sell side Everything is pushed as you increase mail and this is gonna be Matt Doubling his mail essentially if he sent 10, 000 last three months, but I love that strategy Where are you trying to, I don’t know, delegate or optimize Matt in your business because you understand like you work hard right now for your 3, mailers a month, when you go up to 6, 000, like what, what do you see your processes, your system, your people changing?
Matt: Yeah, that’s a really good question. Um, I would say I don’t have like,
Ron: What do you think is going to break?
Matt: Uh, that’s a good question. So I recently actually let go of my virtual assistant. Um, I wasn’t. Like, I didn’t have enough work for him at the time, so I’m probably going to hire him back or hire another person.
I need to get clearer on my roles and responsibilities for that person. So definitely a lack, lacking on my end for like clearly defining that role. But I plan on rehiring a VA to handle a lot of the menial work of, you know, we have an answering service, obviously, uh, leads come into our CRM doing preliminary due diligence.
Doing all of the menial things. And then I would say, um, I don’t think transaction coordinator yet. I’m outsourcing pricing, uh, with the done for you pricing, because I understand, like, that I could do pricing myself, but I’d rather not. Have to like mess up a mailer. So, um, probably outsourcing Pricing on mail is a big thing That’s not necessarily like a hire, but it’s just like an outsourcing of a major responsibility I think a transaction coordinator would be something.
I don’t know actually at what point I Can hire a transaction coordinator? But that’s something I’ve been thinking about, um, and then eventually maybe Q2, Q3 of next year, I’ll think of hiring my own, like, data person. Um, it just depends on, like, the volume of mail we’re sending at that point. Um, this is not a really clear answer.
I’m kind of like talking this through as you asked me that question. Um, but also maybe a acquisitions person, someone who’s a little bit more skilled on the phone so you can… Handle, uh, conversations before there’s like a real negotiation of price, which I would be fine with coming in at that time because I think I’m good at negotiating.
So maybe somebody to handle some more calls.
Ron: Yeah, I think letting sales go like at the last moment for you personally is what I would kind of do because I think sales makes your business like I really do and your ability to sell and talk to people and your willingness to have as many of those conversations as possible.
What do you think, Dan, for his business? Like, we, we obviously know Matt pretty well from within our community, but Daniel, what are your thoughts on like, I think firing a VA, if they’re doing a good job and it’s just a volume, like, I don’t think it makes sense that they, you pay them 200 a week. If they scrub two mailers a week, it’s going to save you money because you don’t have to do that stuff yourself.
But Dan, what are you, what are your thoughts on Matt’s business in terms of like those next steps to get him to the next level?
Dan: I’m curious to see what breaks as he ups his mailers. I think, um, Your advantage is you’re aggressive on the phones and you want to play to that advantage as long as you can until it breaks.
So I would keep you on acquisitions as long as possible and keep you very, very aggressive on the phone. You already outsourced the biggest role in your business essentially outside of that, which is pricing. Like that takes a ton of time and you’re using our Done For You product on that for the most part.
And I don’t know if you’ve gotten deals from that yet or not, have you?
Matt: Yes, I have. Uh, I hit a county that we got, um, two subdivides out of, two wholesales, and I’m working on a double close, which it might not, you know, I might not make any money on it because there might not be a buyer for it, but it’s the potential for like another 30k, uh, on that double close.
So that’s definitely worth it.
Dan: Um, there you go. Well, yeah, so I think, I think playing, you want to play to your acquisitions. As long as possible, because I think that is your skill. That’s the type of mindset that you have. You’re aggressive on the phones. You’re cold calling these people. You just have a lot of experience with it, and I’d play to that.
You already have the pricing outsourced. You are planning on hiring another VA eventually, once you have your roles defined, which is really going to help. And then once you have a TC, your team’s pretty much complete, if you keep outsourcing the pricing, etc. Um, and that can be a, I remember talking, and I want to follow up on this.
You told me that. When we were talking a couple of months ago that you want to stay very lean long term and you want to have all VAs for every position. Is that still your mentality? Yes,
Matt: I would say so.
Dan: And that’s to keep it just a solid lean company overall?
Matt: Yeah, something, um, I don’t know if we talked about this, but the book Traction by Geno Wickman is a really good book.
It’s a lot about systems, operations, weekly meetings, etc. Um, And what they talk about in it is your like five year goal, three, five year goals, something like that. And for, you know, over two years or I don’t know if I’ll hit this because I said it probably a year and a half ago is, um, Actually, I don’t want to manifest that.
I’m for sure going to hit this, um, it’s, uh, like a million a month, which it’s a super lofty goal, but, uh, five, five to seven people on the team, super lean, everybody works from like remote, but you know, everybody’s skilled and we do like quarterly meetups to, Uh, like talk about business and et cetera, you know, keep growing the business.
Dan: We follow the traction as well. And that keeps you on. If you’re, you have your rocks and everything planned out, you can definitely hit those goals. Are you saying a million gross profit a month in general? Yeah. Perfect. Well, let’s move on from here then. I want to talk about your best deals so far and, um, you said majority of them are coming from mail and one of them came from text.
It sounded like, but what, what are the best deals that you’ve done so far? You said the biggest one that’s closing. I think you said Tuesday. Walk us through a couple of your deals.
Matt: Um, yeah. So the one on Tuesday, you want me to tell you about that one or? Yeah, let’s go into it. Sure. So I, um. This was actually kind of serendipitous that this happened.
Um, I definitely could have missed it, it could have fallen through the cracks, but it was a, uh, SMS campaign and the seller actually called me and like the, uh, phone call routed to my open phone account. Um, so he didn’t actually even respond to the text. He just called me. And if you know about how launch control works, you can’t always see, um, like the interested, uh, you can’t see that they called you.
So, um, Like only if they respond you can see that communication. So anyway, he called me. I picked it up and we started talking ended up getting it for 50, 000 and Like 1, 500 and closing costs. So we’re all in at 5, 500 and then we had it listed for 181. 89, which I didn’t anticipate it to close at that price Because I knew that was a bit above market, but that kind of ties back into what I was talking about with Um, anyway, we got a cash offer, uh, after we’ll be all in four months of days and inventory when we close.
So we got an offer last week or the week prior for 135 cash. Um, and going into this deal, I knew that there were some defects, like there’s power lines that run through it. And then there’s a, like 3000 foot easement. It’s a deeded easement. So it’s like. You know, legal access, but these are defects that I was aware of.
So there was a little bit of risk associated with it. Um, but you know, cash close ready to go. Um, very quick time period to close. So definitely happy with that. Um, I got a deal done with these funders that I’m using. I’m happy to return their money. Uh, they’re going to end up making around like 20 K on their.
151, 000, which annualized, that’s 120 percent return, which is obviously awesome. Um, so I’m excited to, you know, be able to provide that return to them.
Dan: Really cool.
Ron: No, I mean, that’s, that’s amazing. And like that quick, and you didn’t have any money out of your pocket. That’s a key to a lot of Matt’s business.
Have you funded any deals yourself, Matt?
Matt: No, no, I haven’t.
Ron: So Matt’s, Matt’s utilizing a hundred percent deal funding, which I’m sure. In the future, he’ll kind of pick and choose some deals to do based on him kind of turning some profit over. What’s your banking strategy, Matt? Because that’s obviously, it’s not like you’ve done one or two deals.
Like, you’re going on double digit land flips, um, and you haven’t bought your own properties. Like, what’s your strategy going forward with deal funding? And some deals you’re, you’re going to bring a million dollar deal. And like, you just need to find the money at some point. Um, but there’s also smaller ones, 50, 75, where you might be a little more picky with, uh, who you can work with.
Matt: Yeah, um, I don’t know. I like when other people make money, right? Because like, if you can make other people money, then like in turn, you’re going to make a lot of money. So I don’t really have any problem with using deal funding. Um, which like I’ve been asked, Oh, do you want to like fund your own deals?
And maybe like if it’s a really good deal where I can, you know, it’s a 10 X equity multiple or five X equity multiple and it’s a no brainer, but like, otherwise I don’t really foresee myself. And this totally could change, but like the way I think right now is I’d rather just like get my volume up and like get a huge pipeline going and just use funders because money’s everywhere.
It’s just, you gotta have a deal. Um, and like you need to have experience, obviously you can’t, you need to like, kind of know what you’re doing, but if you have a decent deal and you kind of know what you’re doing, you can get the money for the deal. So, um, you know, I like providing, uh, Returns to investors also because you know, if you can show them that you’re good at returning money, then when I go and I want to buy a hundred unit apartment complex, I’m like, Hey, do you guys want to get in on this deal?
Cause like, you know, if you make a lot of money, then there’s going to be tax consequences. So that’s kind of like what I’m thinking. Um, working with funders for these kinds of deals. And then, you know, if we end up going and moving forward with some rental properties or apartment buildings, like having people who.
Invested on deals and you know that I am a good fiduciary of their money Um, being able to like put that into different kinds of deals.
Ron: And it’s hard to, uh, it’s hard to ever realize the money if you just keep putting it back into deals. Cause that’s not a, if you get that 60, 000 and you put it into a land deal, that’s not a write off.
That’s not an expense. Like you will realize a lot, like you’ll have a lot of realized gains for your business. Um, these first six, eight, 12 months because you are using so much deal funding. Like I said, if you just keep on putting money back into the business and back into deals, not messing. Like I want you to put it back in the market and get more deals because you are so good at that acquisitions part Um one thing matt mentioned and we’ve funded deals for matt.
We’ve never felt like our money is in a bad spot matt does what it takes to Get our money back in when you are taking other people’s money when you’re using other people’s money Respecting their money is an important important thing that a lot of people Don’t have a lot of people who are asked for money.
Don’t respect the amount of money they’re asking for. Um, talk about that a little bit, Matt, because you seem to really care about getting your investors returns.
Matt: Yeah, I mean, it’s very important. I think that your reputation is like paramount, right, in business. You need to protect it with your life, essentially, because like if you screw somebody over, like.
That’s, I don’t know, that’s an energy that you put out into the universe that like you’re the kind of person that would do something like that. So just be truthful about what you’re doing, be honest, you know, get deals done, make sure that people, I would rather lose money, you know, on a deal than my funders lose any money.
So however that ends up boiling down, um, you know, just make sure to return the capital at the very least, but you know, find good deals, um, try and reduce, you know, mitigate risk. Um, yeah, that’s kind of it, I think.
Ron: Bad stuff happens. Like, there’s going to be bad situations. It’s about the transparency and the communication.
Like, if you, if I don’t hear from someone who I gave money to for three, four months, I’m, I mean, maybe I shouldn’t expect everything to be going well, but I don’t expect my money to be gone and in a bad place. Like, the transparency, the communication is so key.
Matt: Yeah, just one other point on that is, um, yeah, transparency is super important, but like, obviously there’s an inherent risk in real estate and I think that’s even detailed within the contract that like somewhere within it, it’s, you know, real estate does carry an inherent risk.
So you could end up losing your money and just like, you don’t want that to happen. But, um, just I over communicate, I would say. I would rather over communicate than, you know, go ghost, um, cause that’s not a good thing. But just making sure that all parties are on the same understanding that there is risk associated.
And, you know, as the manager, you kind of have to do as much as you can to mitigate that risk, um, and then protect, you know, the other people’s money.
Dan: Yeah, exactly. And your, your business can only grow as much as your investors pool, right? So if you only have 200, 000, you can borrow from your investors.
You’re not going to scale past that 200, 000 of. And if you have 200 million, you can keep scaling and that’s how you want to look at it because as you build your relationships, you have good investors. You have people with money that trust you. They’re putting their money in their good spots. You’ve turned it good.
All of a sudden you can go and you have a 2 million deal. They’re going to start opening their eyes and wanting to work with you verse maybe the first two transactions didn’t work as well and you bring us that deal. Uh, that’s like we had a meeting yesterday, Ron and I, and we’re, we’re getting very strict on how we fund our, uh, what deals we’re funding, but not necessarily because of the deal.
A lot is on the manager and that’s what’s Matt’s Matt’s mentality is investor before me almost. And it’s going to really, really pay off big in the long run when he’s attacking these bigger deals and can get. Much, much easier money and scale as business and not run into a bottleneck for funding essentially.
So that’s, that’s kind of how Ron and I look at it now is manager plus the deal, but we’re weighing a lot on the manager themselves. So that’s just one thing. I think the audience, uh, I wanted to point out to, to let them know because the man, your performance is just as important as the deal itself. Well, I don’t have anything else to add.
Ron, what do you have? Any last words?
Ron: Yeah, just one more thing, Matt. Um, like you are obviously, I mean, whether you like it or not, you’re kind of becoming a leader within the community. You show up to all the calls. You’re very active. People look up to what you’ve done. Like you haven’t been in this land flipping business forever, but you’ve been in enough times, enough time to like have a decent amount of knowledge with it.
People getting into this business, do you have any advice or anything, Matt?
Matt: Um, let’s think. Yeah, I mean, if you’re just getting started, I would be super active in the community. Uh, just ask people questions because like, I remember when I first started, I asked, I was not confident in my pricing, uh, which is understandable.
It’s kind of a complex thing, uh, on the surface. Um, and then, you know, you get more reps in and you get better at it. But I, uh, reached out to one of the members of the community. I was like, Hey, would you? Mind like hopping on a call with me and he took an hour out of his time to, you know, hop on the phone.
So like, network with people. Um, and you know, they’re more than happy to help you obviously if you respect their time and, you know, try and provide some value to them as well. Um, I would say that, and then also with in terms of like marketing, go into this with an amount of money that you want to allocate towards marketing and just commit to that being a sunk cost.
So you’re not gonna get it back, you’re gonna put it into marketing. It will most likely yield a deal, but just, you know, be fine with that. Like, you know, you’re going to spend all of it. Um, and yeah, I would say like network with people and, um, yeah, those are, those are probably the two best things I would say.
Ron: That’s really important. And that’s the people who we see become the most successful in this business are active in the community. They’re networking, they’re doing all that stuff to grow. Um, other than that, Matt, you have any last words.
Matt: Um, I don’t think so. Sorry. I should have with something.
Ron: No, you’re good.
I appreciate you hopping on here again. Um, like seeing how much you’ve grown just in, I mean, it’s less than a year that you’ve been in this business model. Seeing how much you’ve grown is really cool to see. Other than that, guys, thank you so much for watching. Um, if you guys have any suggestions for future videos, anything like that, future podcasts, please put it in the comments below.
Other than that, thank you so much. We’ll see you next time.
Dan: As always, thank you for joining. Please do us a huge favor and like, and subscribe our YouTube channel and share this with a friend. It really means the world to Ron and I, but more importantly, it could help change the life of someone else.
Thanks for joining and we’ll see you next episode.