All Forum Posts by: Matt Larsen

Hi Jordan,

Please add me to your list as well.  I prefer Tampa and St Pete properties.

Thanks,

Matt Larsen

Welcome Courtney!  You're definitely the best Wholesaler Chick I know.  ;-)

If anyone out there is in the Tampa/St Pete area and wants to work together, let us know.

-Matt

Dang Courtney - nice article!  (just reading it for the 1st time - don't slap me)  :-)

Update - we are up to about 75 deals flipped and now we want to BUY & HOLD (need to retire someday).

Any Tampa/St Pete wholesalers - please send us your deals.  Thanks.

-Matt

Hi Sam - thanks for such kind words!  

I always say the hard part is finding the deals, which you brought to the table with your marketing.  I know the 1st deal is always the hardest and most scary, but once you have gone through a couple it becomes routine and in my experience you just hope nothing un-expected pops up - like mortgages, liens, judgements, etc - which seems to happen A LOT.  This one went through without a hitch - free and clear - after a few checks and re-checks.

It's also a lot easier when you have a couple of big buyers in your back pocket which we had so it fast tracked the process( the 1st person I called took it and could close within days).  So that made it pretty easy.

The next thing to have in your back pocket is a great Title Company or Closer that handles all the details and manages the buyer and seller.  This legitimizes the whole thing and puts everyone at ease - as everything is done professionally and above board - and we have one of the best in town for our deals - so that also makes things a lot easier and less stressful.

Great deal Sam!  Now go out there and do some more!  :-)

-Matt

Great feedback already on this post - I'm stealing some tips for sure.  A few additional questions I would ask are:

In a perfect world, what would you like to have happen as a result of our conversation?

AND

If we were to come to an agreement today on the property, how soon would you like to sell?

These questions will determine motivation - and we ususally don't have a deal unless the seller is highly motivated.

Hi Jerald,

Are these (4) properties all with the same seller? Package deal?

And you have had 0 offers?

I would say get and extention or get a price reduction - but if you have not had ANY offers then that may not do anything for you.

I like to know within about a week if I have a good deal or not - if I don't get any offers in the 1st week, I know I'm probably screwed and should either - cut bait on the deal or get a price reduction.

If you are still within your inspection period (I like to give myself at least 15 days) then you can back out of the deal - no repercussions.

If it's after your inspection period, then you lose your deposit. Hopefully it's not much.

If you don't want to bail just yet:

You could market your properties - here on Bigger Pockets.

You could market your properties on some of the Facebook groups or LinkedIn groups.

Call some of the other bandit signs in town (other wholesalers) and see if they have any buyers for your deals.

And if none of that works - you could tell the seller that your partner on the deal backed out but that you will help him/her sell the property for free. I've done that a few times and it's saved me any deposit loss and you still might make a few bucks in the process if you are cool about it.

Good luck!

-Matt

@ Mike Sattem - great story. I like how you adjusted the wording on the YL and got a better response. I'm going to start mixing it up to see. I have been using the old school: "I want to $$ BUY $$ your house." I have been getting a drop in response rate. Time to change it up. Thanks for the motivation.

-Matt

Yellow Letters is the only way to go!

Haha

I'm kidding, but it still works. It's been the best for us so far.

2nd Best is Networking with other wholesalers who need help getting their deals sold. Done quite a few deals lately where I had the buyers and we split the deals.

I'm open to suggestions on new ideas of course too.

Thanks,

-Matt

Dev - thanks for the feedback. Wonder if it was a bad batch?

I'm kind of a cheap skate so I'm not likely to shell out $1K for some system, but I know Chris Ritcher and he is definitely a stand up guy and believes in this system - so if the results aren't great - it's not b/c it's a scam.

I'm also not a big believer in push button systems either - of course they sound great and if someone could invent one that actually worked - we would be all over it. I know these guys had this in mind when they created the system.

I'm an old school "driving for dollars" guy and when I tell people my conversion rates they freak out. Well it's because I actually drove around and actually saw the house with my own eyes and saw that it was vacant.

So if I send 100 letters, I get at least 10-20 calls and 2 solid leads, and usually at least one deal. But yes, I did a little extra work on the front end.

It probably all washes out as even in the end: time vs money...I put in the time. Or you could save time and just buy lists....which I don't do yet.

So if you really have NO time - the FMSN system may not be a bad idea.

Just my $.02

-Matt

Here are the details: http://www.meetup.com/tampareia/events/133987072/

At Gators Cafe in Treasure Island, FL

Come on out!

Matt