All Forum Posts by: Matthew Perry

I do think all of these companies could be the future of the REI industry and can be niche for people who have the capital as accredited investors, and your talking to the man who bangs the drum for diversification in a real estate portfolio harder and longer than anyone else. My fear is that quality deals and projects will never make it to the capital market place, as the market will forever be in the hands of private marketers and private hands as it too rich a pipeline to concede to the open.

1) you have added time that someone older than you does not. Time is finite and a limited resource- use that advantage by starting young. 

2) biggest mistakes I made, I bought a property just for the sake of buying it. It was a fix and flip project and I bought it because I liked the neighborhood, needed a project, and made a choice with my heart and not my head. I became too attached it because I wanted it to work so badly, and thought if I just kept putting more and more money into it the numbers would somehow change and immediately get better. All of a sudden I am sitting with a 500k house in 200k neighborhood area. It was the mentality of keeping up with the joneses of trying to hang with my competitors in the area, and feeling like they are buying houses every week I have to be doing that too- wrong you do not. Move at your own pace, and be you and not someone else. 

3) off that, it is not what you see on TV- like anything ever is- but on TV everything is quicker, faster, and easier and what the choice is in your lap to make you have to have the convictions and the belief to do it not sit there and pander wondering what the guy or gal on TV would do in this situation. 

4) do not pay or buy programs because you feel they will help you grow at a faster, stronger, and better rate. There is no magic bullet and because you pay for something to make it better, is not going to make it better. Be willing to invest in yourself, but know the limit to it and the time and place to do it, and like everything else be smarter and think a lot about the best way to invest in yourself not just with the thing in front of you that seems and sounds amazing. 

I could not agree more with @Ryan Enk, people who do not take action are always the first to caste the stone and look to point the finger at anyone else but themselves. They are also the ones who talk the loudest because the story they have created for why it did not work for them has to have them in the hero light because they need a reason and it is those folks who speak the loudest in the public forums. I add one more caveat to Ryan's remarks which would simply be, do not fall for the headline. I always tune people out in sales pitches now who say, follow my lead and you can be X amount of dollars, or you will grow your business by X amount. It is all about finding what you yourself believe in, and as Ryan said want to achieve and do. 

@Perig Vennetier, I am finally happy to see someone talking about these crowfunding sources in the "light" and not the darkness that tend to exist in. Are you happy with that level of growth, I am curious as to what your expectations going into it were. Over 3.5% percent growth in a month is impressive growth, but is that sustainable over the course of a year? two years? I have my doubts, and have wondered if those companies can deliver short term success, but struggle in the long term. It seems to me for rates on the open market to be higher, as people look for an alternative. 

@Will Long- a personal board of directors? Tell me more about that. 

@Kerry Noble Jr- to scale up your wholesaling business? Be more specific- are you already wholesaling? do you want to increase your business? 

@Kyle Mitchell- great incorporating personal goals there, I always feel like that is an overlooked part of this game that it is important to add in the personal side to maintain a balance. Tell me more about this podcast, my goal in 2019 is really to create more through media in the REI world, and a podcast is one of those lines that I am interested in starting.

I am curious what people are thinking about for goals for 2019- are they financial? are they personal growth focused? are they multi-leveled? What are you doing to meet these goals to hold yourself accountable? How are you or do you keep track? 

I can tell you I have easily spent six figures on real estate coaching and mentors over my years in the game, some have been a nightmare others have been incredible. I caution against those who offer a promise by going with them- go with me and become a millionaire, I can make your business grow x10, or buy my tricks of the trade. Those three things infuriate me to know end. The good ones in my experience have been the ones who can 1) keep me grounded in my goals 2) keep me honest to what I want to achieve 3) can help me talk through various topics when I need them. The great gurus let you arrive at the answer and I look at more often than not as course corrections. If I ever became a coach in the next decade that is exactly the kind I would want to become. Just my personal view, but those really expensive educational packages, gurus, or coaching are not worth it, but again that is just my take. 

1) ignore the noise for a little while and have a honest conversation with yourself. 

2) ask yourself what you want to achieve- what are your goals and be really honest and in depth about it. Be specific as possible. Is it paying off a mortgage? Is it a family vacation? Is it added extra income? Or are you trying to create a business for your family to run? 

3) how can fortune masters get you to your goals quicker? Or is having the money more beneficial for your first deal? 

4) lastly, anyone can do this. Money is not nor should it be a determining factor whether someone begins to invest it should be about your effort, your determination, and your ability to eliminate fear. Everything else is just noise. 

HI @Natalia Benshaw, student housing is both a blessing and a curse. On the one hand you have a new potential tenant pool that naturally turns itself over. Yet, on the other hand the maintenance is going to be crazy because you are right the repairs are higher because students are never easy on the units. I myself have had great success with student housing, but each time I go into it I am always incredibly optimistic and set my expectations relativity low, and use them more or less as anchor for my higher occupancy portfolio. I know what I am going to get each year- nothing more, nothing less. The only part that is off is your vacancy rate, all my student housing is still a twelve month lease expectation with the awareness that come June 1st there are going to be a ton of subletting potential, but I leave all of that to my property management side. That is really the under evaluated side of student housing, which is the real estate agent/property management side of things. For my student housing units everything is September 1st lease, and I ask for notice in February/March if they plan on re-upping or leaving. After that everything is up to my property management team. If asked what side of the fence I would be on though, I'd say I am team pro student housing because I know exactly what it is and it is cash flow each month that I know is going to be stable for the year and it is what it is . 

My personal soapbox is when you see these programs that advertise teaching real estate investing or come to my seminar and learn my ten tricks to real estate investing as if it is something you can just buy at Target or Wal-Mart. I wish there was an easier way, if there was I'd want to sell it, but I am not naive enough to know that there is no easy way in this thing we all love called investing. Instead it is simple as 1) knowing who you are and standing for that, 2) knowing your respective markets and knowing enough to know that is someone out there who knows more than you do and it is important to find and know that person. 3) trusting yourself when the time does come that you trust in your self and the processes you have created to make the deal.