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All Forum Posts by: Matthew Haskins

Matthew Haskins has started 10 posts and replied 26 times.

Post: Buying Redemtion rights ??? Who's doing it?

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

@Pavel Sakurets I see this thread is pretty old, but I am interested in the topic now. i'd love to pick your brain on the topic. I am also in Minnesota and currently working with lead here whose home was sold at auction in March of 2019 I believe.

I have not connected with them yet to get all of their details, but was hoping to understand the concept of buying their redemption rights so that I can better explain what my plan would be.

Would you be willing to connect at all for a short phone call, or let me buy you a cup of coffee sometime soon?

Post: St. Paul MN Rehab Near Colleges FOR SALE

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

Perfect investment or starter home in a great St. Paul area. Blocks from Hameline University and blocks from parks. This home has a great back yard area that extends all the way back beyond the fence line. Plenty of room to add a garage. Home needs some TLC but there is plenty of beauty in the existing home. Tons of natural woodwork. Build a bath on the main level and add tons of value. Or finish the basement which already has a toilet! Repaired 3 bed 2 bath comps range from 280k to 330k depending on finishes! (Not advice, please do your own Due Diligence) Contact my team member Dave to setup a showing. Property is vacant and easy to show. dave@proteammn.com 952.334.5376

Post: Real Estate Investors Accounting Services

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

Matt,

Id like to connect to see if we can work together on accounting needs I have. Honestly at first I'd love to arrange something where you can look at my current books, help me correct any deficiencies and then train me to do my own bookkeeping. At the moment I do not have enough action to warrant someone else taking care of my books, but let me tell you, that is the first thing I will outsource when my business picks up speed.

Let me know if you think we could work something out.

612-804-8243

matth@Idealequitygroup.com

Post: seeking advice for managing a rehab remotely

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

Hey BP,

My company Ihas just put a property under contract in Duluth Minnesota which is 120 miles from our home base. We have some solid resources and team members in place, but we are looking for president connections and advice to make the project a great success.

Does anybody have advice for managing a project remotely?

Post: Wholesaling In Minnesota Best Practices

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

Sean,

Thanks for joining in the conversation. So you have wholesaled a property in Minnesota? I'd love to hear more about how you went through that process. 

Have to say I am also pretty jealous of the idea that you have a mentor! I have resources I can call for questions in the area, but its no where near a mentor relationship.

Post: Wholesaling In Minnesota Best Practices

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

@Todd Blank glad to know I'm not alone in my confusion. Hopefully we get some insight from expert Minnesota Wholesalers here soon. I actually have an opportunity right now in Rochester Minnesota, but am apprehensive to dive into it.

Post: Wholesaling In Minnesota Best Practices

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

Hey BP,

I am hoping to start a discussion on wholesaling in Minnesota and the best contract practices to follow.

I have been looking for rehab deals mostly, but doing some marketing I always come across deals outside of my area that might be good deals to wholesale. However, I am very concerned about wholesaling the proper way.

I've listened to people at seminars, seen wholesale leads bombarding my email, read a guides, and watched webinars, but I can't seem to find a practice that truly seems comfortable and legal.

I understand the general process, put a property under contract, and sell the contract. OR actually double close.

I'd prefer to avoid double closing as it just costs to much and I believe it would not allow for a win, win, win situation between seller, wholesaler, and cash buyer.

I have also heard people talk about Opinion Agreements as a more legal alternative to the traditional purchase agreement approach.

Basically who in here is wholesaling in Minnesota, How are you doing it, and would you like to meet for beer, coffee, pizza, or a burger to give me a bit more insight on the process? Or even better, let's work a wholesale deal together from one of my leads!!!!!!

Post: Can Realtor's Pay Marketing Costs from Referrals from Investors

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

Tim, thank you for your insight! 

I wish there was an easy way to search MN law to find some of these answers out there. O well at least we have all the bigger pockets experts to ask!

Post: Can Realtor's Pay Marketing Costs from Referrals from Investors

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

@Dave Foster great point. I plan to start the classes early next year so hopefully would have a license by 2nd quarter. Hoping to monetize of the leads in the meantime if I could.

I also have a full time job for the family business that I will probably never leave and figured I wouldn't have time to really market properties well as a realtor. 

Maybe my assumptions were wrong about the time required to get listings sold. In your experience, after you have the initial work of a listing done, how many hours a week would a person need to spend on that property?

Post: Can Realtor's Pay Marketing Costs from Referrals from Investors

Matthew Haskins
Pro Member
Posted
  • Rehabber
  • Andover, MN
  • Posts 26
  • Votes 5

I have heard that it is possible and legal for investors to be compensated with marketing costs from a realtor that they refer leads to.

I am in Minnesota, and I often receive leads from my marketing that do not make sense as a rehab, but would be AWESOME retail leads for realtors.

I have heard that it is possible to refer those leads to Licensed Agents in exchange for Marketing budget. 

I know licensed realtors I can get a referral fee of 20%-25% of the commissions when a referral closes. But I do not have my license (Yet).

I have been told it can happen in one of two ways. When the investor refers the lead, they submit an invoice for their costs associated with obtaining that lead. Or option two, negotiate an amount that the realtor is willing to pay towards your NEXT marketing budget.