17 Burst results for "Matthew Simmons"

"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

05:14 min | 4 months ago

"matthew simmons" Discussed on Real Estate Disruptors

"Right like how i contributed to this. There are more bought in and your literally helping do that. Yeah every single. Friday absolutely another thing too is You know you invested in your team. So what was really cool. I got to meet your team a couple of months ago as flu monitor all day sales training event to brandon. And i think ryan right There's a lot of people that do that is really interesting. Is that because sales is kind of hard to measure but there's people that are investing team so like you didn't come right but you set your team and they came. Yeah so that was really admirable. Yeah they're able to do that well. And that's how. I i know the value. I wanna keep people around. Yeah i know. A lot of people say that. They're invested in and want financial freedom for their team but are they actually showing it. So another thing we do is every second or third creative deal. So this is either a seller finance ab- too low money down. They get to keep for themselves. No fee no nothing. that's awesome. Yeah that was something that i learned from matthew simmons. Yeah right and we're incorporating same exact thing as well so that's that's pretty cool. Yeah so then. For twenty twenty one. How much wholesaling are you do. How much flipping unit or is it. Just everything's now so we're still fl- Wholesaling about forty percent. Okay so then we flip the other thirty and then keep the other thirty. Yeah and that's a great point So you're keeping three out of ten. Yeah this kind of is hard to maintain that discipline right because we talked about your average profits. Forty six thousand. Yep how do you maintain the discipline to keep as a rental knowing. That is forty six thousand. I think this is it goes into into a discussion about money not having Total power influence over you. Which i think is really phenomenal thing but also i don't wanna see when i see that amount of money in my bank account. It makes me uncomfortable. I don't like it does. It's not doing anything it's making me feel like. I don't really need to work as hard. So i don't like to see huge amounts of money in in my account because it's it's more motivating to not have it there. Yeah so. I mean just as simple as that. Psychologically i think that's a great point because there's another agent my office right at the top producing you know killing it in for him. He's just like he wakes everyday like is broke. The how'd you wake up with. That might say i program that in my mindset to be broke every day because that's what compels him totally to work hard totally and i just hate paying taxes. Why so. And that's the thing to whenever i do a wholesaler flip. I'm losing forty percent right away. Uncle sam goosey exactly. So if i keep it as a rental and i'm cash-out refiling I mean we just did a deal this year where i bought it at two sixty five put. Nothing in and it just appraised for five. Oh four so..

matthew simmons brandon flu ryan sam goosey
"matthew simmons" Discussed on The MMA Hour with Ariel Helwani

The MMA Hour with Ariel Helwani

06:43 min | 6 months ago

"matthew simmons" Discussed on The MMA Hour with Ariel Helwani

"He's got a ton of experience. This is not a bridge too far whatsoever. I wanna see with this guy's made of. Let's just let's throw him in there with just a a gritty tough dude and eric andrews coming off a win got a lot of confidence right now and his new camp. I love it. That's my fight would say you i. I was almost going to say. That's a bridge too far for anders Because like i said. I know it's one. Ufc appearance guy. With i think maybe a dozen ufc appearances but It overall experience experienced silva does have a really bruno silva does have the edge has overall experience. yeah so You know. I get it. I mean i'm sure that's doesn't help. People would look at it and anders. Would i don't know if he'd be favourite after the after this performance by silva i'm a fan by the way but this guy has got to work on his defense he is i think he he came in his last one. He got knocked out last two and he came in with a really good chin. And i mean look it up as china's enormous And i and i think he. He had a little bit of a of an idea that he might have been invincible Because he just eats shots. And you can't do that when you get to the. Oc he was proven by By bruno silva the other night. So i think the perfect match for me. Actually my mind would have been. I would love. I would love to have seen him with gregory rodriguez. But but i already said i already created a hypothetical matchup with rigas and buckley so there was another suggestion for rodriguez. I'm gonna steal that for bruno silva instead so i'm thinking i'm gonna obstruction from you. I'm sticking with relative. Uc experience bruno silva and The purple hills ninja jordan right. So even less pro experience than eric anders. So be i. I'm not sure what i'm thinking here. But it could be a fun match up. I still wanna see. Jordan is such a mystery to me. i think he's so talented. I just wonder how good he is so bruno seven would be a big test but if he can beat him then i mean the really have some with right and still beats him obviously he just continues then we give him a much more experienced opponent but a lot of good options for bruno solve after that performance of that was nice. That'd be interesting because join rights. Such a wild man be cannot be a wild man against bruno silva or else you'll be you'll be asleep so that would that would just be crazy. That'd be rock them sock them. Yeah i mean against anybody is something that people wanna see after that performance but the mvp tonight aka goes to good old map brown. The guy just keeps finding ultra violent ways to end fights even at forty years of age. He face plant cao's diego lima with one shot. And this fight is going as i'm watching it. Because of course we have our our little pin pool that we do. And i'm like all right. This is this is going the way. I thought it was gonna go diego. She's going to keep kicking him in the leg. And brown's gonna have his moments but diego's just gonna cruises way to like twenty nine twenty animus decision and then boom the right hand lands beautifully timed excellent instruction excellent thought process on how this is going to go. He learns diego lima into a false sense of security and the boom. It was over back in the win column. Is the immortal map brown. This guy versus anybody is fun. Ak but how much fun are we going to have coming up next. This is one of my rare correct picks by the way. Sorry night i did. It was actually spot on. I did predict matt brown by second round knockout and it went again. I thought lima the thing with matt brown is you can be a better technical fighter than him there. He's there's some very tangled fighters but he's beating them too. Because i think there's a certain nastiness you have to have when you fight Brown and diego lima. Nice guy good fighter. He does not have that extra gear so it was a kind of again as expert at some point. I like map. browns is going to snap. And if you can't go to that never another level with you're going to be in trouble. I still has been discussed on auto before has been discussed on other shows done. I still want to see him. Fight corgi and i know it sounds a little bit like a sort of like some tr- tailor made like espn like kind of exploitative thing like oh let's see just because both these guys had like really difficult pass with substance abuse and really serious like you know near death experiences as a result of that I i i'm trying i'm trying to portray this matchup without making sound tacky. But i think those stories are legitimately inspirational. I can never hear it enough. I know cormack. He's been around forever. And i've seen some people will just kind of like gosh this again. But it's like this guys. These guys stories are amazing. And i do think As publicized their stories are again they're battles with with those views and overcoming those those demons. I still think even even wider audience. That is not aware of that and again now you'll the espn platform stylistically flight. That you're getting an awesome three rounds three rounds of battle five around if you make an flatmate event somehow But i but. I do think the story is cool. I think it'd be really nice moment. and a moment that these two guys could share These two veterans could share. So again i know it's a very easy narrative to work off but that's kind of why like it. Think has a universal appeal. I think it's easy to understand. And he you get a good fight out of it. So matt brown and corby. Jose mentioned that match up. It's it's it's it works no doubt about it In map around obviously to nobody's surprise the very popular topic in discussion when it comes to the future after that performance a lot of names are being thrown around your fun all of which could work but i think a good fight with where matt is at in his career where people see this other fighter potentially going and you just so happen to compete on the same card i mean map versus chaos. Williams is ridiculous. I mean that is just insane. Cascading nice win over matthew simmons burger. I mean if you see map. Brown versus chaos williams in the works for such and such event. Use can be like. Oh my lord. This is actually happening So that's i'm going with. I think that's i think that's just a good piece of business right there. I mean nothing. I if if they did the court mcgee fight all in on it. That's got to be a co main event. That's going to be a big story line for sure on a big card. Do something even if it's like you know if matt doesn't make the decision like i'm done maybe with court and i would like to see that fight at some point but i don't know something about map brown versus cast williams just gets we all fired up heavy..

eric anders eric andrews bruno silva rodriguez gregory rodriguez tonight Jose diego second round Jordan both two guys buckley rigas Williams diego lima one matt three rounds Brown
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

05:45 min | 7 months ago

"matthew simmons" Discussed on Real Estate Disruptors

"I think i was in year two at dinner if with family. I would apologize to my kids more mistakes. I've made wise words. Yeah so. I think those are the things and then you know. The last thing is make sure that i stand on my faith like supposed to besides rental where your other passive forms of income or other forms of passive income. Yeah a little bit bitcoin. Very much it. i mean. I'm all in invested in real estate in some shape form or fashion. And you're only buying a mississippi. Yes currently well. Now we will buy apartment complexes all over the country where there at how are you getting those various different rates so we've also now built out another side to simple home exits which is simple exits commercial division and that commercial divisions now marketing to multifamily. And so on that marketing Weary they're going to take it down and wholesale it to ourselves or other people or or tight does multifamily style gotcha Or some of the biggest mistakes learn from josh ortiz. Mistakes i say continuing to make sure you are two things number one. Continue to make sure that you maintain the relationships that are truly bringing you value. There's times where you lead some relationships that truly bring value kinda go because you you're off on your race. The second thing is make sure you do as much social media and document everything you do every time you can don't fail at that because you're going to look back and you're going to be like dang i shoulda documented. We're all sad and you're the first person to say that there's Who's on the show. matt matthew simmons okay. He made a bold plan. I'm gonna make a million dollars my first year and he was going to document it and he never did. He made millions. I year amazing doors and follow and i still feel at today supposed to so you mentioned that you neglected some important relationships. Yeah my sharing what those neglected where ships or those relationships neglected. Yeah i would say key men in my life that would coach me on. Not business related stuff you know just life in general and then you get caught up in the business and that is that becomes more important so it's just Key religious man that would kind of lead me and say you know what this is. Probably the better decision to make But also some of the business guys you know i was. I was staying up on Facebook a little bit better. And i was doing some things in some people comment And even in facebook groups there would be people that would bring value. Because you didn't think think about it at a certain way and and just kind of failed at that. Ti- what is your superpower talking to people making relationships your natural born salesman so person. Yeah i i like to learn about people that might also be close io entire with one external validation as well right. Yeah you like people and the flip side of that usually is you also want to be liked absolutely. Is there a book more than any other. I would say there was a book that i've told people about more than any other which will be profit. I i yeah. Yeah with a few times. The other one though i would say would be the robert chiaki book Which one. I just got brain brain freeze supported. Yeah i opening a lot of people so it looks like we got all the questions answered. So i want you to think about something. Wanna leave the centers with parting. Thought i'll make a few quick announcements guys value today. Police like comment share a helps us reach more people. Next april molina coming in. She tell how she went from massive debt. Which i think was six hundred thousand dollars worth de gosh to pay off and making six figures a month. So of that's something that'd be of interest tune in next week. Are your parting thoughts. Yeah this is something that I started pre our business. But it's also something that we've implemented in our business and is our number one motto our company and that's care about people not about profit first awesome. If someone wants to get a hold of you how would they do that. They can email me at sean at simple home. Exits with z dot com. They can also check me out on facebook. Showing rourke or our our facebook page message me on facebook or if they wanna give me a shout you know if they want to give me a call or whatever we need to do. I'll connect anyway. I love to help people awesome. Thank you guys for watching thank you. There's an absolute pleasure thanks man..

josh ortiz robert chiaki Next april next week matt matthew simmons today millions six hundred thousand dollars million dollars first year six figures facebook two things first person z dot com year two second thing sean Facebook simple home
"matthew simmons" Discussed on WJR 760

WJR 760

01:58 min | 1 year ago

"matthew simmons" Discussed on WJR 760

"Where Detroit comes to talk. Is a compromise back on the table. President Trump signing executive orders over the weekend to support the economy through the pandemic crisis until a compromise might be reached with the congressional leaders on a new stimulus, While the Treasury secretary Steven Mnuchin, told CNBC this morning, he sees signs On both sides for a compromise on a legislative package. We're prepared to put more money on the table. So where there are things I said that made sense to compromise we've compromised, so we're not stuck at the trillion dollars, but we're not going to go to unlimited amounts of money. A Democratic congressman Gerald Connolly, says Democrats want to get back to the negotiating table. Chuck Schumer and Nancy Pelosi have indicated we're ready anytime, but you've gotta have some serious kind of proposals. You can't simply Dig in your heels and ignore the devastation in the country, both of public health and the economy on do nothing. Hospital still have plenty of Corona virus patients, even though the patient load is down. Dr. Matthew Simmons, head of infectious disease research at Beaumont Hospital, tells the Frank Beckmann show There is definitely pressure on the hospital. I just finished two weeks on in the hospital is one of the idea consultants on I definitely saw Kobe patients just about every day, Dr Simms says. Hospital front liners get encouragement when they see patients recover and go home just ah few days ago. I saw a video of a patient that that we had in the I C U with Cove. It's getting out of her car at home with all her family around her. You know those sort of things spirits. Chicago is cleaning up after rioting and looting. Police say hundreds, smashed windows, looted stores and clashed with the police on the Chicago Magnificent Mile shopping district. Here's correspondent Polo Sandoval in Chicago. Shortly.

Beaumont Hospital Chicago Chuck Schumer Detroit Gerald Connolly Steven Mnuchin President Trump Polo Sandoval Dr. Matthew Simmons Frank Beckmann CNBC Dr Simms congressman Nancy Pelosi Kobe executive
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

05:23 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"And still have time for my family and share with works for me and it's not gonna be any secrets like stuff that I've learned through books and everything else. But I'm just GonNa hear what works for me. So before forget because you're a social media star, how can they get hold your social media the Real Matthew Simmons, and that's you know there's so many impostors I had to be the real one apparently Matt Simos? Really good realtor in Pittsburgh. There is another matt that's right. So it's very confusing but I'm the real. Matty Simmons with. All right. So what's the last night? You WANNA leave everybody with you know I thought about this in. Me and there's already so much out there on on the INS and outs and Ninja tips, and tricks, and all those things for me something that I find very useful in life not just as an entrepreneur is. Finding perspective, one of my favourite entrepreneurs is Jesse at slur and he talks about. Death in coming to terms with it, embracing it preparing for it. And he talks about it specifically in the context of his parents. And for some your listeners I'm sure this may be more applicable for their for their grandparents but. Of Thinking, you know figure out how often you see you visit your parents or in some cases, your grandparents let's just say you live in Pittsburgh they in Florida that's pretty common. So you visit your. Your folks? Maybe five times a year or your grandparents And your they're seventy five years old. People make the mistake. And our arrogant in thinking that they have time they're seventy five, the probably gonNA live to eighty I have time. The way he breaks it down in the way I've learned to break it down as you don't have five years left with your grandparents. You're only seeing them five times a year you have twenty five visits left with them. And when you put things into perspective, it's easier for me. I'm forty five years old I've I've been able to learn that as a twenty one, twenty, two year old. It's very hard to wrap your head around that when it comes to grandparents. So one of the exercises that I use that's really brought me to Kinda Center. Is I imagine it's my last day on earth science kind of extreme but I imagine it's my last day on Earth I. Go to my wife and I say, okay yeah, I got some news. This is it tonight at midnight I'm going to bed I'm not GonNa wake up what are we going to do? Well let's go. So let's get in the car. Let's get the kids go somewhere and we just get in the car and in this fictitious scenario, which is driving somewhere towards the beach towards the mountains I don't know let's just go the drive east towards the coast. In the car breaks now. And so now I'm on the side of the road. It's my last day. And I'm in the car with my wife and my kids. So before I had this perspective what I would do. Is Punch the steering wheel, scream the F word and make it really miserable for the people in that car until triple H. got there. I think. What I've been able to say, well, wait a minute. It's my last day on earth is rich. You wouldn't do that if it was your last down Earth, what would you do say guys let's get out of the car. Let's go over here to this field and let's go run around. Let's play. Let's let's sing a song. Let's her but you wouldn't sit in that car and you wouldn't be miserable because again at your last day on. Earth. And for me I constantly remind myself of that perspective calm down. Keep things in perspective and appreciate the time that you have right now with these kids we talked about it. My oldest is four I. mean he thinks I'm superman that goes away and probably next year. Yeah off the put back in his place. But the point is truly appreciate what you have right now in this moment having kids a little later for me has been a godsend my wife and I do not take anything for granted. So many people say, Oh, before you know it, they're grown up and you're not even gonNA remote. No, we we take mental note every day of how lucky we are and how much were enjoying this journey and I think too often as entrepreneurs we get caught up in the grind hustle and we don't stop to appreciate things along the way. Yeah. As powerful and I think that you're right it's really easy to overlook. Yeah. Yeah for sure. So great last bit I think that's something that's. Something everybody's ears. Thank you very much for joining that and guys. Thank you for watching. Thank you for putting up with the technical difficulties but we made it through. Thank you for coming out here and I play for sharing store I think it's really powerful. Think's a lot of really good gems until everyone who write down one I don't know they're going be right down just went from. Good. I had a blast. Thank you. Thank you. Your. Ain't nobody touches. And get. Some sleep. This. Shot up st trip..

Jesse Pittsburgh Matty Simmons Matthew Simmons Matt Simos Kinda Center Florida
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

06:47 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"Yeah. There they kill it in Pittsburgh, the market leaders there for sure. So he gifted me extreme ownership. And that book to me it it just really spoke to me it. Definitely. Kind of surmises everything I've said here today about taking responsibility for everything Kinda started for me with grand car. Don't he would talk about how you get in a car accident at your fault you should have left five minutes sooner. You could have been further back whatever. But it really didn't resonate with me until I heard that book and really came to realize that once you take responsibility for everything in your life. Now you have control, and now you can you can move forward. So that book for sure can't hurt me by David Geoghegan's there's so many I'm really thankful I read the road less stupid pre covid. That Book Chapter? Ten of the road less stupid I listened to once a week that will tell you exactly what not to do, which after a what was the topic on that chapter something about a crisis is a terrible thing to waste and he talks about the lessons learned from the two thousand and eight crash, and he goes through all of the things the arrogance that complacency, all of the things that lead to people. Failing when a market shifts and he talks about how when the market shifts, you can't make cuts quick enough you can't. Adjust quick enough in that was so true and covert literally, and this was so frustrating I want to actually give show off for this. I told you this on facebook I. Don't know if you remember. But when Kovic happened, there were so many national gurus saying, yes this is what we've been waiting for doubled down on marketing go all in everyone else is going to pull back the rains you should go all in. That's what we're doing. What was frustrating for me? In the Pittsburgh market was, we couldn't close on properties. Yeah. So I had no clear path to revenue. I could increase my marketing but without knowing when I was ever going to have a closing, what you said is here's what we are doing. We haven't changed anything well, that makes sense because you can speak to your market, but you didn't say you shouldn't change anything and there were so many national guards and it's frustrating because here I am on Uzun with my team saying guess what guys no more direct mail. Sorry we gotTa Stop Ourselves Jan game we're. GonNa continue this continue to do that. But direct mail is done and they're listening to the same gurus I'm listening to their saying well, they're telling us we should be doubling down. Why are we cutting back? Thankfully we made cuts my business cost about sixty one, thousand dollars a month to operate. We got it down to about eleven and I mean like a day that we literally turned everything off amped up the south. Jen's started doing zooms stayed positive. My team was incredible through covid because Pennsylvania we just we it was brutal. Well, it's interesting because. I thought pivot if ASTERN ANYBODY You know and it wasn't credible sounds like you guys are the same thing. Yeah. We all talked and sad that. This is not looking good with our governor and this mandate Again, it's not that you could have carved out a bigger market share during that time awesomely but. At what expense? There's no, we had no idea when we were going to have our next closing we talked title company and and they basically said we can continue to move forward. But if the government agencies aren't providing us with the things, we need I have no idea when you're next closings going to be. Yeah. So you're locking out properties today the typically would close in thirty that may not close for sixty, ninety one, hundred, twenty days and at that point by the way I have no idea what the AARP's going to be. Yeah. So I don't even know if these are deals stressful. Yeah. I remember I was a couple of calls and I made that. I. I made a comment some as you're making really. Bad suggestions yeah and I don't think they liked what I had to say but. I thought that you can't. You can't blanket statement this whole country like real estate's local, Yep. Yeah. So and I think doing wants to know what do you recommend has a fulltime job doing this business? fulltime job doing this business was your by someone like that. Yeah. That's tough. I mean got A. Run I think at my latte calls a mini days. You've gotta run many days where you're nine to five is day one and You know catch your breath. I don't know if he has kids but. Six to eleven like I said for me you know I worked to eleven every night and I didn't have another job but you're going to have to work from six to eleven. You're going to have to work weekends and it's worth it. You don't have a choice when you're your first three years or longer. This is at forty hours is not going to cut it now kiss it goodbye I would also tell him spend as much time on Self self-improvement as you do on the wholesaling because it's so hard that if you're not in a good head space, you will quit now and then sixty thousand. Pre. COVID. Where was that going? What was I spending it on? Well. We spent sixteen, thousand, six, hundred dollars a month on marketing. Kiefer's take about twenty, two, thousand dollars a month on payroll that includes my wife and I. We take a pretty healthy salary and then I dunno shit I just spend it I don't even know I, mean. So system systems. self-development. Yeah Decker I will definitely all those things. It adds up quick and you know one of the good things about Cova. Is it made us reevaluate things. What don't we need? We had a lot of weird shit in there. I didn't even know we had that we never brought back. Yeah. That's the story I heard consistently, we actually didn't any expenses. That's probably good. You were tight. Yeah. Only lean. Yeah. We're waiting for guess something like this. and then see. All right. Cool. So yeah, you got a lot of love people loving us on Youtube. So do you think about one quick thought while a couple of quick announcements? So guys We got next week a guy Keith Everett in Lenny coming out from Birmingham. Alabama or hear about their story and what they're doing and then Again we just one last reminder we do have that productivity zoom call tomorrow. So you guys are interested directors dot com slash time like I said I'm not selling anything This is just people ask me how I run seven businesses..

Pittsburgh facebook AARP David Geoghegan Youtube Kovic Uzun Jen Birmingham Pennsylvania Alabama Cova Kiefer Keith Everett Lenny
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

05:32 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"So I, I share with you right. I updated the intro you know for today and I wrote down, we take massive action you'll have success and I changed it. Consistent action because really not massive action that swings that that moves needle now is doing the same thing over and over going South riverbeds are made you know just just need to be consistent. What is your favorite best or most interesting failure? Wow. Okay buzzkill. Trying to be positive here for the kids to I would say two things one is social media I suck on social media. So if you're out there and you're like a social media maven. In. You like this obnoxious personality awesome beard Let me know because I could use some love but. I I told my wife when I started because I watch Max match. Well, I said, I'm going to start a blog. which is a video blog, steve and Andrei going to. Blow this thing up, it's going to be called zero two. Zero two seven. In twelve. So zero, two, seven, and twelve zero to seven figures in twelve months. So I'm going to build this wholesaling business to seven figures in the first twelve months. And we shot we shot video we shot two episodes and what I quickly came to realize was getting to seven figures wholesaling was a lot easier than making blog I. hated it. I self conscious every time the do call me like, Hey, we gotta shoot I blow him off fast forward twelve months my wife's like. Well, you should have done it here. We are seven figures in your for you call it your like you like Babe Ruth Dead and nobody got to see any of it. So that's a huge value. The other one would be You know we try not to cancel too many deals I. Know You guys close on everything we probably like eighty percent some of our stuff falls through which I think is still pretty good given our volume. But the money on deal because I locked it up too high. Sanit out to our list realized within the first day it was too high or any action did something we never do which is sending out a second time at a reduced price started calling buyers in the area. Nobody wanted this deal called the old lady back and said, Hey. My funding partners I. told you. We're not buying this ourselves. They're not seeing this. The way we are I'm GONNA have to cancel chew. So Nice Okay Matthew I completely understand. Canceled the deal was a sixty day contract fast forward forty five days her son Leo on the forget calls me I was cutting my grass and says, Hey. How's it coming on the closing? We haven't heard anything. I said Leo I canceled that two days after I signed. I spoke to your mom and he lost his mind and I don't mean he was mad. He was crimes upset he said listen my mom's got dementia. She's really struggling. We have been looking forward to this closing for forty five days. She's living with my sister in a two bedroom apartment. She needs this money and I'm not saying you didn't tell her you were canceling, but she doesn't remember she's packed up and moved out. So I call my dispositions girl and I say what? What happens if we take this to the MLS? She's like well, it's. It's pretty ugly. So how bad is it going to be well, looks like we could lose anywhere from like five to ten. So I talked to my wife who's the CFO and I'm like, Hey, I messed up here's the situation I. Think we should buy this house. And she was what are you? Why would you mean Whoa we decided to buy it. We sold it. We lost about eight grand. So is that a failure? Yes, but Technically, we lost money, but a business failure it is it is more we try to operate I I call it leaving crumbs I don't WanNa go through life leaving crumbs where I've gotta look over my shoulder and and feel like I've done people wrong. So That's probably it. Yeah. I wouldn't call that a failure I. think that's admirable and we've done that I mean losing money for us. We've walked away from you know Ernest my I've actually had situation where not only did I cancel and gave him earnest money she called me later I was like I lost this because. You're buying it. How much did you lose because? They are I wrote her a check for that whole 'cause. Yeah. She made a decision based on my offer, right? Right. I rather like I sleep better. Accepting a check. Than you know knowing someone's out there like suffering. Because of me exactly. So you have any ray wants to know what title company are using I'm guessing she's in your market plundering peavy settlement I'm glad you asked the best. and Patrick Vieira wants to know when you start it. What kind of budget did you have? Man Five thousand postcards. Could phone a friend here at call my wife but whatever cost five thousand postcards. The data was was pretty cheap is using lists stuff so. Couple Thousand Bucks. So you've got a library inside your head idea right So I mean just doing quick math over one hundred books in the last few years. Well, sure. What would be the top two or three books that someone's GATT to read? man that's hard to to narrow down. The guy brought up Jaakko willing. That book was gifted to me by Ryan Schlabach who you had on your show incredible too..

Leo I Andrei steve Thousand Bucks Ernest Jaakko Ruth Dead CFO ray Patrick Vieira Ryan Schlabach peavy
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

01:42 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"No pretty self explanatory ravaging about nine hundred dollars a month adding passive cash flow now through substitutes. So I guess. Yeah. So how many doors you a month right now? We're adding between three and four. For, we average about three hundred dollars a month cash flow. Which means I need about one hundred and fifty doors. To reach, fifty gay. Gotcha we're. On our way. And then Elaine wasn't what is your favorite marketing strategy? Direct mail I. Don't have any fancy secrets. My Postcard looks like Shit it's cost a quarter. And it's it's been the same since the the postcard that I sent in January of two thousand eighteen. Is the same postcard we send. Now it's black and white. It says notice robust across the top And it just works who using for that. we use a local company in Pittsburgh Gotcha. Pittsburgh. Mailing. So let's see. Yeah they're asking questions marketing already answer that. So number one market strategy mailers. That's it no secrets. And, that's that's the great thing you're talking about something that's not sexy at all. Your are is that this fancy thing is just you just do what you know works. and. It's amazing what you can accomplish if you just do what you know works Yup, but it's so easy to get distracted. Ordinary things done consistently create extra ordinary results. We've all seen it. Yeah. Co Calling is nothing special. But if you cold call for two hours every day seven days a week, you'll get special results. But. That's not sexy..

"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

06:12 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"So what you find is let's say you do one hundred, fifty thousand dollars in wholesale fees and you're working like even a fifty percent profit If you do four sub twos at thirteen thousand dollars a piece, there's fifty two thousand dollars that's just gone in. Yeah. Again, we're working towards this this fifty thousand dollars that's what we're focused on. So you're not gonNA, see me drive in a lambo like we're focused on this fifty thousand dollars. But you. Still you want to have enough money to be able to continue to drive the marketing machine, and so that's when I had a conversation with pace and he's like you gotTa Bring Lenders I've been self funding everything. Yeah. He's got gotta break through the crazy amount of wholesale deals. We do like when I say funding. I'm not cutting checks out of our account. We're literally just bleeding the business dry building, our portfolio and patient like no he act because to me I had a mental list this like head trash were it was okay. If I'M GONNA flip and I use a lander I've got a clear path to how I'm going to get this guy or gal their money back. But when you're doing a sub two and you'RE GONNA lease option it. Where's the exit? The exit could be three five years away, and so I was trying to wrap my head around who's going to lend me money out of your used to hard money lenders want their cashback Yup and you sense found out. What was the lesson you learned? The lesson I learned was people will take an ADA, ten percent consistent return for sixty months but. Yeah and that's one of the struggles is finding those people. So what are you doing about that just in the last three months like reaching out to all of the lenders I know saying is this something that would interest you luckily we've had one say yes. But. We're just we're looking until. Then I just keep writing Jackson I'm not gonNA stop moving towards that fifty thousand. There's gotTa be though in that group I, mean I'm sure. Somebody's asking this question. Instead, it's up to crew. Right Oh. Yeah Y'all yeah we've discussed it. And the recurring theme seems to be you've just gotta find lenders who are willing to let their money sit. And the other thing is. You know my entry fees are only thirteen thousand dollars give or take. So. is on the lower side it is it is but we're not doing a whole lot to these places. And we're we're cherry picking out the best ones because we disposition creative deals as well. So we're only keeping the best one so. Who's GonNa give me thirteen thousand dollars. for sixty months at eight or ten percents, just not that sexy and so we're trying to find a way to package. Here's three to five houses I. Think I think that's also in your head probably. Yeah. I think we're talking about that some more later on I'm all ears. So what is your superpower? Superpower Discipline. For sure. Yeah. Well, and I think having body like Yeah. I'd say not just like in a lot of people can muster up discipline in minor doses I'm talking about like extreme. savaged. Disciplined to the point where. I made a decision three years ago. So what I did was I told you I was kind of disappointed with myself where I was a man three years ago and so when I sat down I, wrote down here's the kind of man that I'm going to become. And these were non-negotiables and one of them was wake up at four o'clock. One of them was a knockin eat like shit and there was a long list of things. and. Once, I made that decision. I never in three years I've never disappointed myself. and that means a lot to me because it's it's a sign of me. Keeping true to my word to myself. I think so many people hold other people's commitment sacred right what they say to other people there'll be a man or woman of their word, but they don't do that to them some executions themselves exactly, and I don't do that. So. I think for me it started with little victories which begins to build confidence, and then from there you know you could become unstoppable. Someone says here, Alex Eleazar says you need to meet with Dave Day and that's my private money mentor. Okay. I'm aware of him I've seen some of your guys stuff together and I've definitely considered that yeah and then someone else's asking pre probate. Appropriate question you wanNA elaborate on that. Yeah. as best I can I don't know all the legalities but I'm pretty sure it just means everybody who has passed away. So. Not everyone who dies goes through probate right? Sir Pre probate is just a list. You can buy separate from Pro Bates that is just everyone who has passed away who owned property A lot of those are going to be duplicates later, they'll come through probate, right but not all YEP. Absolutely right and then what is the greatest lesson you have learned this doesn't have to be just a real estate. That's a tough one. I would say What we just talked about I think really for me becoming a man of your word to yourself. A change my whole life I mean really everything that I do now is based on. Who I am I sat down, I wrote down who I wanted to become. I became that person in all of my decisions regardless of how I feel. Are based on who I am because as you know if you do if you do what you feel like doing. You're not gonNA have a successful career or life for that matter. So I make. A decision based on who I am as a man, not how I feel. That's incredible. Who here Daniel Wind says you sound a little bit like alcohol because I think that's That's a compliment I think I'll take. so Let's see the questions here. How do you? How do you plan on getting to fifty K. Passover so to that's explanatory but maybe you WanNa, elaborate on that. Yeah..

ADA Alex Eleazar Daniel Wind Pro Bates Jackson Dave Day
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

05:21 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"Company. You earn one. Credit. For every three credits you earn as an acquisition manager. The. Next one you get, you get to keep the house. So for every three houses, you get me, you get to keep one. Now you're no longer. Just, paying the money, of course, everyone wants money. But what are these people really want? They want financial freedom just like you do And so we are able to bring people on that are out of our leak the people that we have on our team are out of our league. I would not be able to pay them enough to keep them on board interested in hanging around. But the reason why they will because now they're building their own rental portfolio, you leveraging my marketing my staff, my connections on. The real estate on the construction side my connections on the banking side. If they needed my connections on the management side, these are people who already wanted a rental portfolio maybe didn't have the means maybe didn't have the courage or the know how where the connections, and now you can take someone who was in one case pharmaceutical rep making one hundred and fifty thousand dollars leave their job. And come work for Fifth Avenue Property Group. With the hope of maybe making ninety to a hundred but at the end of their first year have three properties in their portfolio. Yeah. So if you're twenty, five, thirty years old and you have a choice between one fifty or a hundred with three rental properties. For a lot of people, that's a no brainer and so we have created this culture where we're all working towards the same thing we talk about financial freedom. We don't talk about our competition. We don't talk about what anybody else is doing. We're talking about how each of us individually. Going to accomplish financial freedom of course, I'm going to get I my company. You've gotta get me my three. If you WANNA keep your one but once I get there I'm not going to close the doors. Now, what do you do when you get there? You turn around and you help other people op so at that point and we've got this all planned out. I'm three and a half years away from getting financial freedom. When we get there in the sense of passive when we get there I, don't need you to give me three properties to keep one I. Want to keep the doors open. You just keep wholesaling your ass off. That's what matters. That's how you keep people focused on wholesaling is they have this this opportunity to get their own properties? So now I'm free for every one. Property you get the company you keep wanting to were all free. So the goal being fast forward seventy years there is no company we're done. We're all free were gone, and so it's a totally different vibe with our team because we're all rowing in the same direction where all pursuing financial freedom, not them pursuing money while getting me financially free. How long can you keep those people around Oh? I love it. I love that. So In on top of that. What are the only paint them right now per transaction? Yeah. So we have a sliding scale starts sit around it starts at ten percent. So ten percent of the gross spread and then it goes up. So as you get bigger deals, the percentage you keep increases. So we've had multiple hundred thousand dollar deals they're keeping twenty percent of that. So as you go up, it slides up and then for every if you do five or more deals in a month. You get a two point kicker on everything that month. So it it ends up being around eleven twelve percent on average but again. That becomes a little less important and of course, everybody needs to make money I'm not going to downplay. The pay portion of this, but it becomes a little less important when the true reason you're doing it his financial freedom. I love this so. So we're having some challenges with the. Technology miss some other want so. You mentioned you have a contract construction crew no I I have contacts with context yes. We have a crew that we. I wouldn't call it or crew, but they only do work for us. Because what we do is we've got these sub twos closing and they all need work they all need some updates. So we keep those going and then just to keep them working for us, we will keep baby one flip at a time going so far this year we've had one one or two flips going all year I'm I'm not a fan of flipping I've tr-. Strength my wife Luckily manages it and does it very well But if you're if I'm managing it, you'll just come in one day to paint and the lights will be off or they'll be no water like the issues with you with. Utilities and stuff so so I think one of the things like you're having a lot of success right now. Okay. There has to be some challenges chur. Struggles right now. Man There's a lot. One is money. I mean believe it or not. Not as far as us, making money, but as far as having the ability to generate..

Fifth Avenue Property Group
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

05:36 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"This'll be a record month for us, but typicals like twelve to twenty was this month. revenue or deals both. Revenue little over three hundred which is insane. Yeah. That's that's very abnormal. More typicals. Fifty two, hundred maybe and we're going to do about twenty one deals a big part of the reason was when Pennsylvania got shot down like it did a lot of our deals were just kinda sitting. We couldn't get died tests done. We couldn't meet municipal requirements people couldn't get funding, but we had deals lined up in the pipe test. Oh my yeah Pittsburgh thing Good you're asking the wrong guy, but basically, they pour some die down the toilet and down the downspouts and they make sure that that water is going to the right place. So it's not going into our drinking water. It's not going into the sewage whatever and so it's at municipal requirement certain places. So if those things are shot down, even if you're a title companies given it how you can't close if you can't get lean ladders because you haven't completed those. Yeah and I was message English. Alaba Mike through time. He was not happy with what the governor none of us none of us are. I should say I mean I'm okay I'm. Okay with the responsible shutdown I really am, but it was the clean sweep. It was lazy legislature. There's obviously ways to conduct real estate responsibly. So if we can find a way for vape shops to do it, if we can find a way for Italian ice shops to do it surely, there's a way that real estate can operate responsibly surely shortly. So So we talked about how you got here today, so you know a big part. Of the reason why people are watching we're talking about two million and you know we talked about the challenges that you face but people probably WanNa know you know as far as like is particularly source. She liked the best or anything that you do. Differently you believe in the competition. So let's start with in Hoodoo target. Yeah Man I wish I had some. Some special list that I could give you. But reality we target the same stuff everybody else does. Tax Delinquent. PROBATE, pre probate, fourth pre foreclosure, absentee owners especially during Cova, we had a lot of success with that. I think for us what sets US apart two things one is since we hooked up with pace more be we have multiple options for sellers. We're doing some sub twos before we linked up with him but now we're doing sub twos not only doing the right way, but we're doing seller finance we're doing wraps. So now we have an agent on our team. So now when we go into the house, it's truly coming from a place of service. We're not just going in there and making a low ball offer the acquisition manager. Can Go in there and say I truly have this person's best interest at heart because I can help them any number of different ways whereas I think a lot of times traditional wholesalers are going into the house and saying, all right. How am I gonNa get this you know at fifty sixty cents on the dollar we're going in and saying, okay, what are your needs? What are your wants? How can I help you if that sub two great if it seller finance great if it's a cash deal great if not, we'll listed for you. That's one thing just having the ability to do more things than others but number two. I. Would say and I think we'll probably get to this at some point but it's the people in it's the culture we've created with the company and the reason we're all doing this that really makes us I think stand apart well. I've done a talk some back wholescale actually. Okay. We hung out yes. Am I talk was how build a cult? Yes. So culture something very passionate about yeah. So let's talk about culture. Cool. Yeah. Speaking of wholesale I wanNA shout out Elizabeth now brought day and Charles went they definitely encouraged me to seek you out and get on the show. So I really appreciate them Yeah. So our culture I think really sets US apart in that. We have unique way of paying acquisition managers what I came to hear when I first started this from everyone was acquisition managers are divas. They're hard to keep. Their either GonNa Leave and take what you've taught them and go do it on their own. Or they're going to. If they don't then they're probably going to be high maintenance. Okay and so the school of thought that I heard was don't hire rockstars you don't eat rockstars do acid terrible advice terrible or hire rockstars just be prepared that they're gonNa Steal Your Shit and leave why didn't like either of those options so we thought what's a way that we can create. A company where our vision and our dream is so big. That the goals and dreams and vision of our acquisition managers can fit. into. That somehow and so what we came up with was A credit system. So I designed this as a way. To cut down on losing acquisition managers originally I'm so if you're currently doing creative finance if you're doing sub twos if you're doing seller finance In you. What I'm about to tell you I, think will really change your business if you implement this if you're not doing creative. I would encourage you to learn how for this reason alone if you're a scaled operation so the way the credit system works is every time you get a creative deal. To close, for the.

US Pennsylvania Pittsburgh Cova Mike Elizabeth Charles
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

06:14 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"And, eventually, you'll figure it out. Yeah. There's something I learned. You know I'm really personal development and One thing I've heard is there's just in case learning and there's just in time learning and so many people are so focused on just in case which here would be serving getting out of your car surveying the landscape and just learning just let's just forget what. We need to do to get from here to here right and we get from here to here. Then once there we'll figure out what we had to do next. Exactly right? Yeah I love it. So you need to have a crm when you're doing all these deals. Amazing. So all right. So she helped you with the CRM organizing your business at that point. what was your overhead? So she was an an annual salary of but right before hiring her was your overhead. What was the bill monthly overhead? We were spending about twelve and marketing total overhead for the business was probably about fifteen sixteen and that's predominantly mailers. Yes. Okay. So you hire her she organized your life and the and the you said that your business even even crazier it did. All right. So what happened? Yes. So what happened was she started handling some of the transaction coordination. She started handling a lot of the things that were diverting my attention from acquisitions. So brought her on an annual salary and I mean it paid for itself immediately because I was able to get more deals under contract. And then really to be honest the next higher that completely changed everything was dispositions mostly because I hate dispositions the thought of going into someone's house while they're in there and showing it to twenty potential buyers to me is it's a nightmare it's just not something I look for too stressful to you then calling someone that's appropriate. Yeah. Yeah. Amazing. Yeah. I. Don't know what it is I. Just I get really anxious when I go into someone's house and I'm bringing buyers and so. In that's even after telling the sellers. Hey, this doesn't fit model I'M GONNA, share it with some of my financial partners still I just get an uncomfortable vibe. So I brought in someone to do dispositions she also took over transaction coordination fulltime. So now I've somebody organizing my marketing somebody answering the phone somebody telling me who I should be calling because I've at legit crm somebody handling the transaction coordination and somebody doing the dispositions. Now I'm full steam ahead on marketing excuse me on acquisitions and It really started to take off. Okay. So you're office manager how are you compensating her thirty thousand dollars a year when I hire she since gotten raises. But yeah. When I first hired her thirty thousand dollars, a year hired off indeed interviewed about eight people and. She's been a godsend tremendous and disposition person. So I actually went on facebook on the investors page and I put hey, any agents interested in selling my deals. at the time I was I sat pay five hundred dollars per deal. and you're responsible for finding a buyer and transaction coordination. So funny like twenty agents were like, yeah. Five hundred dollars. Why would anyone do that for five hundred dollars? Well, we're doing fifteen deals a month. So I mean I know what? Make so I didn't want to disrespect anybody but I had a handful of people reach out talked to three or four brought on a girl who was not only an agent but was working towards her brokerage license and she just she knows all the INS and outs of real estate and she's a hard, ass. So she's perfect for tips positions even though I love her, she's a hard ass and so now that I had that off my plate, I knew. We were maximizing what we could get for deals. Again, get my focus backed acquisitions I just wanted to be in the house now, I don't ever want to be in the house I that that's not where my time is best served than I. I've been on an appointment a long time. So which average fee was approximately before you hired her yeah eleven five and what would you average after thirteen to fifty? Okay. So it's more than herself and she saving you time definitely. And headaches I mean that's one of the things I was at a point where when I first started I, wanted to be everyone's friend and so you get someone calls you and says, Hey, that deal you just put out I'll take it. Okay. Why have six people scheduled to go over tomorrow at ten o'clock? So I'll see there no no. I'll take it. You're done. That's it and I really would take it personally I'd feel terrible whereas Tina she has no problem saying, no, no no, we'll see tomorrow. And we show the property and so it's made a huge difference for us. That's awesome. Yeah. Okay. So we'll volume were, are you doing at this point after you hired her? Yeah we were right around like eight to twelve deals a month give or take, and then what was your key next milestone next milestone was hiring acquisitions. is so nervous despite doing eight to twelve deals a month I really felt like I just didn't have enough meat on the bone to hire somebody and I didn't WanNa hire somebody and not have enough leads for them I. think that's everyone's fears. I'm GonNa Bring this person on who has a good job WHO's making good money and I'm GonNa make them this promise of coming on board here and and they're gonNa make money, and then not have leads form But when I took the leap I brought on to at the same time I just felt like one of them's probably not gonNA work out. Let's bring him on and I'll be able to judge and. I luckily, I had kept really good KPI's on my my wife had kept really good KPI's on my performance leading up to this. So I, had I knew what the bar was set at at least. I. Knew what I thought the gold standard was. So I thought I'll bring to on they'll kind of compete a little bit and one of them's not gonNA work out. Luckily they both worked out and as they crushed as awesome. Yeah. So what is since you've hired them what is your deal flow like now? So. Since we hired them, we actually hired another acquisitions person we have three. We have junior acquisitions. We have a creative guy deal flow now is more like anywhere from twelve to twenty. This month is insane..

facebook office manager Tina
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

05:56 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"I wouldn't say that's balance You know balanced in the sense that I'm getting the that little bit of time with them in the morning and some time with them in the evening. But even on weekends I worked I I really don't even. To me balances kind of a mess if you're an entrepreneur and your early in your trying to get started. It's not even something. I. Seek Right now I've just not gonNA balance at this phase of my career. I think I'm I'm told often and certainly not by any of my loved ones but I'm told often that I work too much i. hear that a lot. And it's funny because. I consider myself kind of ambitiously lazy like I will do anything right now to have freedom at some point, and we have a very clear path to freedom my wife and I have financial goals in path to get there. So. I look at it is the guy who's driving downtown every day he's the guy loves to work. Not me I mean I hate to work so bad that I work my ass off now to not have to that guy's GonNa work for the next forty years. Only to probably retire and have still work or do something else and so they Ramsey says, you know like live Like nobody today so that you can live like nobody exactly. Yeah. Exactly and to do that I'm not sure can find a real great balance and so for me, we sacrifice a ton. My wife works just as much as I do we. We sacrifice a ton. We haven't watched TV in three years literally and we're not some Weirdos that think the TV's like the devil we love watching TV where normal people it's just not something that's on our radar right now, and so we find that there's a lot of things that we do miss out on and that's a decision we've made to to keep pursuing. Financial goals, I see all the stuff on social media right now weather be about trump or Cova eter fricken pizza gate or whatever. All these weirdoes are talking about an an the reality is some of its legitimate and some of it's not. But my point is I have blinders on I'm just not at a phase of my life and this may make me selfish. I'm not at a phase of my life or my career where I can be an activist right now I just can't I'm. Focused on one thing and that is financial freedom, and of course, along the way there comes my family but I can't be focusing on ten different things right now. So let's let's define that 'cause financial freedom is a lot of different things to different people. was Financial Freedom Mean Matthew Simmons family fifty, thousand dollars a month passive dot com from real estate. So we other streams that we're working on as well, but but goals fifty thousand dollars a month passive from real estate that's after all. Management Fees Everything's paid in with pace on part of the sub to crew as you know. Shout out the sub to crew lava just an unbelievable group of men and women especially pace. The amount of time and effort and love he pours into these people is insane. So I I can't thank him enough. He's just been a life changer for business but. What I found is that In order for us to get the fifty thousand, a month passive. We need to wholesaler asses off because it it costs a lot of money the sub two houses these free houses they're expensive and they add up your entry fee are average entry fee, his twelve, thirteen, thousand dollars, a sub to deal, and so you do three of those a month really choose into your cash flow, but we're on pace where in three and a half years. I will be forty, nine, fifty depending my wife will be thirty eight will be at that fifty thousand dollar number and we'll just disappear can go play with my babies you. You won't hear from me now I wouldn't shut the company down because I'm hoping we'll get into kind of culture and how I pay my team. We're going to keep things turning along for them but as far as me in a day to day role I'll. Be Long Gone Gotcha. So going back to earlier was saying, oh I, three, nine months I nine months you were sold for Noor hire somebody and kind of took off. So what was your first higher I hire was an office manager organizing the marketing like what am I supposed to be mailing? How do we who we supposed to be calling set me up with a crm set up my texting set up my cold call Sierra No. No No. I'm not a real. I might as well not have one. Now I don't even look at the thing but but I think this is an important point though because a lot of guys a lot of people watching or the audience is there like you know what I need to create a website and get business car elsie and you were just out there making a mess, Don. I what did they call eight ignorance on fire was what the one guy told me that you hit him is ignorance on fire I didn't know any better I didn't care. Just go go go in fact it's. It's so funny when the sub two groups group started. there. Was a guy that went on there and the very beginning and said, hey, I, just got a list I wanNA start calling it. Should I use myself? So I'm like Dude St-. Yes. Call Cocoa and there were like thirty comments. No deal get google voice get this get that like do just call and like you're GONNA get your business cards to in your golf shirt like me you better get an LLC just call and that's what we did. We start to start. Yeah. That's that's bigger. Everything out my messages. Consistently as I don't care to start your and everything, you'll figure everything us out the analogy of there's a cargo down winding road. It's dark headlights on you can't see what's wear had, but you can see enough to keep moving forward. So many people stop because they don't know what's around the corner. You don't need to see what's over there just keep moving forward..

Matthew Simmons Ramsey google office manager Cova Noor golf Don
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

06:25 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"So I'm evaluating it is a flip, but it's in an area called Natron Heights. It's not really a flip area per se especially this neighborhood, but it was truly turnkey now. That actually all worked to my advantage because if I did that now I would have offered more because I would've known that as a turnkey rental. The place had value, but to me, I'm looking at seventy percent of Air Vian. It's not unusual in this area to have a RV like fifty thousand dollars. So I'm saying I'm thirty five minus repairs, the places turnkey key, but the whole thing would be updated to look like these ones on hgtv. So my goodness I don't even know if I could wholesale this place at any number, and so that worked advantage because I went back to the seller and I said listen. I don't want to insult you. The reality is you know that I'm going to probably flip the. House. And by the time I run those numbers backwards and subtract awesome profit. You know what the values are here. I'm afraid it's not gonNA leave much meat on the bone for a purchase price and I really don't want to insult you and I kind of left it at that, and that was the key because then they felt comfortable enough to say, Hey, we're not expecting much like we really WanNa get rid of this place. You're not going to insult us we understand you have to make money. So I said nine thousand dollars. They said, we were hoping for twenty. We settled on eleven I deal sold it for twenty nine. So I, got it for eleven sold it for twenty nine, which was eighteen thousand dollars, and there aren't a ton of people in Pittsburgh doing wholesaling. So I remember I went and talked to a couple people and they were just shocked. You got it for eleven years. So you're GONNA have to do a double. Close I mean at eighteen thousand dollars. That's insane like, and of course now, you know that's kind of normal. But back, then it was kind of like a really big deal. So that was the first one again proof of concept and from there just kind of snowballed eighteenth grade disarray one I would take that now for sure. Okay. So nine deals your first month and you haven't looked back except for covert. So, what was the journey like the rest of the year? it was a struggle. Just because the volume continued I, mean in Fr- from month three through month eight no month nine I was a solo per nor. And I had no staff and no six months. We did close to seven hundred, thousand dollars as a one man show. My wife was still working full-time. She's a, she was a nurse Practitioner as well as a mother. So she had her hands full I had no staff. So I'm doing the marketing I'm doing the acquisitions I'm doing the dispositions I'm doing the transaction coordination. Still trying to keep up with my pipeline. and. So it was good and bad. The good would be that a I learned how to do everyone's job. So now when somebody on my team tries to talk shit out so difficult to show a property when the sellers are in the house or the, I really can't lock this up at this number because of XYZ I've been there. I've done it as a matter of fact I did it while I was doing your friends job over there too at the same time. So I saw every single step along the way and I learned how to do all of it. The other good part about it was I was operating at seventy one percent profit for six months. I had no expenses no expenses we paid we had marketing and that was about it. But we took draws, but I didn't take a salary at the time. So we were just turning away at an incredible profit margin and actually still to this day, use the money that we made that first six months to continue to build our rental portfolio. So it was a great lesson I think had I hired someone sooner I. Probably could have scaled even more because month nine when I hired Caroline my office manager who is a Godsend she completely organized my life and my in my office and Then, I could really start to focus on other things. So let's talk about the struggle zillow printer because a lot of people listening to this show you know they're they're still working by themselves, and one of the greatest challenges I've witnessed Miteir career is you gotta deals. And, the fires fires, prospecting stops. So you go to this rollercoaster. Definitely right. Did you go through that? I did Now I will say I didn't have as many fires as most because my title companies incredible I mean we can send them Apollo crap and we get closing in thirty days unless so that could be like you know if your title companies go, you're going to have your title challenges but you're GonNa have buyers that aren't performing sure hard money lenders change of heart or I won't fund until I get to walk through the House. You these hard money lenders like where do you come up with idea that you can walk through your house, right right? Yeah. We still deal with that today. Yeah. So there are these other challenges of the fires and what happens when you're when you're a solo preneurs, I can't have this die I I need I need to close. And so because I need this close I saw prospecting and then you have other problem in four to six weeks. Sure. So how did you yeah and I would say I wasn't newer. Was I knew wholesaling yes. But not new at a business and not newer to the mental strength it's required to be able to deal with the ups and downs so for me. I knew the first six months to a year we're going to be held. It was going to be a grind I was ready for it, and of course, there were ups and downs you know deals fell apart but if you just keep filling your pipeline enough, you eventually get to a point where you're not living and dying with each deal and so there's a little more balanced. But of course, still struggling along the way for sure. Yeah. So we're kind of hours working. I think. It'd be easier to quantify what hours I wasn't working but yeah, I mean. I. So I really riser since January of twenty seventeen So four do my thing in the morning and then. Hang out family until nine, and then from nine until my kids come home around five, five thirty. Doing my thing in the office. and. Then kids were going to bed at seven back then and then I'd work from seven to eleven. So that was my life for. almost about two years. So twenty eighteen, you still have pretty good balance. No No. No..

Natron Heights Air Vian zillow Pittsburgh nurse Practitioner Caroline office manager Miteir
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

08:44 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"You know he was on a podcast anybody could have could have reached out to that guy and I- harassed him until he agreed to get on a phone call with me and tell me what he knew and to his credit. He was a go giver and he taught me a lot really got me off on the right foot. So during those twelve months I completely brainwashed myself. So again, when people say, well, how did you do six figures in your first month? It wasn't really my first month. It was my fifteenth month because I had been brainwashing myself for twelve. So think of it this way Steve Somebody. Took away all of your knowledge right now about wholesaling. You know nothing about wholesaling but you still had all of the self improvement that you've been disciplined enough to give yourself and you started wholesaling tomorrow you would crush it. Because you'll learn the wholesaling part. That's the easy part that the wise in the the INS and outs and the tips and tricks. If you already have the mindset, right going into that you have a huge advantage of everyone else because most people are concurrently trying to get their head right while they're learning how to cold call. Yeah, and that's very difficult because cold calling sucks. So you're GONNA quit if your mind isn't right by the time I, sat down and picked up a phone to cold call a pre probate, which is one of the worst things in the world human being can do. I was already successful already had deals in the pipeline I was ready to go, and there was no question I was going to succeed. I think something that people are hard to see and yeah, you say it was your fifteenth. There's this idea like you know he was an overnight success and think you need to give yourself a little more credit but there's a little bit of You Know Jim Collins it says know sometimes it's five years. Yup to become an overnight success. Exactly right. You don't see all the work behind the scenes. Yeah. So let's just start. Okay. So you sold your bathroom business. Exit there, and then you started January twenty eighteen and what were what were the first step she took as far as marketing goes when he said. All right. This is it. I'm all in. Good questions. So Lance is a direct mail guy. So I think five thousand postcards went out. But in addition to that I was cold calling pre pro bates cold calling pro bates I was cold calling pre foreclosures. I was knocking doors of pre foreclosures. I was knocking doors of tax delinquents not very well received in Pittsburgh to say the least. I was doing a ton of driving for dollars I back. Then we didn't have. Some of the APPS like go knock and others that we have. Now where you can do the virtual driving for dollars I just went on Google Earth and Kinda told around the nicer neighborhoods and then my wife and I would handwrite ladders and we would mail them off. Any that this comes up, we got a call and I'm sure my team is laughing about this right. Now we got a call from one of those handwritten letters that my wife and I wrote in January of twenty eighteen yesterday the lady passed away and her daughter found the ladder in her desk that I hand wrote about having an interest in her house and got an appointment. So the. Point is it was just grinding just basic stuff same stuff everybody else did. But with the mindset of I'm going to succeed because I've already got this mental thing on point and so we started off with the male and at first I struggled. I. Was Going on appointments and I was trying to implement the same strategies that I used in previous businesses and that was way way way too aggressive. Too aggressive, I was like borderline getting physical here on these appointments, telling people that are going to sign their house, and so it wasn't until the third month that I really got the hang of how this all worked and that's when we started doing deals. Had please. So I once this by appointment longtime ago camera was the I was a competitive bodybuilder. He made it a point to explain to me. He was a competitive, we do that. And so I've got this contract was like you know I think house works forty and he wanted to offer for two, forty, one eighty. And he started flexing like no forty. One eighty but where's the door? He flex time. I. Was like all right. I gotta get out of here I don't know where this guy is going with this. As, a Weirdo. Yes so what I would actually do so. Simultaneously to having the bath business, I was the company that we bought our products from saw the volume we were doing in said how you selling this many walk in tubs in a relatively small market, and so what they did was hire me to be a consultant to go and meet with other distributors in teach their wraps how to sell the walk in tubs. Why had designed a system one call close involving price drops high high high pressure. So you go into the house you. Give the presentation you tell him I'm going to give you three prices one prices good for forty five days or excuse me one price is good for year one price is good for forty five days the next prices, good today, and then you hit him at the end with the twenty thousand for a year. Of course, if you WANNA make a decision in the next forty, five days the prices sixteen five. So you know take your time think about a prey on it. Let me know. And of course, then they say, well, why didn't you say there was another price like a today price and you say, Oh, my I didn't think you were ready today but since you brought it up and then you turn the paper on, it's like twelve thousand dollars. So it worked, it worked you created a false sense of urgency exactly and it worked really well, and I trained a lot of people how to do it. It didn't translate quite as I'll go into people's homes, and so I, really thought those first few months. I'm going to go in there and I'm GonNa bulldog people with this incredible skill set that I have and people are going to sign their houses over to me and they they didn't they did the exact opposite as you train people what did they do? They just pulled away? Oh yeah they're not as Thirsty. Yeah, and so I did nothing it wasn't until the third month where I really got a feel for. Okay. This is not. Just, a bathtub, this is somebody's home this. In some cases, the biggest asset they own I need the pump breaks brakes a little bit. Be a little more empathetic, and that's when I really slow. The biggest thing for people are transitioning is you're not selling a product anymore united selling us service at the think selling service we're not right or selling us. Yeah. It. We're selling matthew that's IT, and if you'RE GONNA sell Matthew, you can't high-pressure down. Now nobody wants to buy a high pressure Matthew Yeah so Talk about you know to goose eggs right? It was too and then so you've got this background almost books you read the mental toughness, the the the clarity, and so on. What was it like the first few months when you're sending out five thousand postcards and nothing's happening like what? was there any self doubt? was there any talk like? This wasn't for you. What was struggled a lot of people still face today yeah. No, there wasn't an honestly I have to give credit to my wife. My wife is just so supportive I mean just imagine. So she when she met me. I didn't even mentioned had vending machines that was another business that was successful but I sold it then the gym. She goes through that ride with me. Then the the behalf company she goes through that ride with me. Then I tell our watched a youtube video and I'm GonNa Start wholesaling real estate and she doesn't even hesitate she. She says, yeah, do it. You'RE GONNA do it I can't can't express enough how important that is to people people focus so much on who they partner with on the business side and they don't even think that the person that they're potentially going to partner with as. A spouse is just as much if not more important, I can't imagine all the weight of being an entrepreneur having to drag someone else along that journey who's not on board she carries me I carry her, and so no I never got discouraged. She said, you're GONNA figure this out keep doing what you're doing. I also had lance in my in my you're telling me you're doing everything right keep doing it maybe relaxed a little bit on your appointments. You're a little bit of a spazzy I've been. but eventually, now I was in a good space man I knew it was going to happen. So let's talk about the very first deal. Okay. How did you find that deal? I deal cold called I probate luckily, the call was well received. They said I'm glad you call we really need to get rid of this place. It was a rental in everything that I had studied was that Max Maxwell seventy percent of Ar V. minus repairs, which is where we're still selling in Pittsburgh today..

Pittsburgh Lance I Steve Somebody Point partner matthew Jim Collins youtube consultant Max Maxwell Ar
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

06:46 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"No. Yeah. Yeah. Now, keep in mind some of those deals in March where from marketing efforts January, and February fourth but ninety one, hundred eleven thousand. So is it that point? Obviously huge proof a concept first month six figures. Yes. That's incredible. Yeah. It was huge So my wife and I kind of looked at each other like okay this this is something that could work and then from there on out, it's been full steam ahead We haven't had a month below one hundred since then before cove it I don't know how much you know about what's going on in Pennsylvania but we were completely everyone wants to crucify the governor. Yeah it was pretty yeah not much has. Changed we were completely shut down real estate is non essential somehow some other questionable things were and we weren't, but nonetheless roll with the punches That was our first month below since we got started. But actually this month we've since rebound, this'll be our best month to make up for that. Okay. Well. That's good. So less take a step back here. So you were in the fitness industry he said you sold sold the Jim okay. So I When did you start that fitness? You ought two, thousand and one, two, thousand and one. Oh, so you were doing it for a very long time So when I first got into this information marketing combining right people don't know I try to coaching business like twenty fourteen. And fitness was one of those industries was which was like a model for information marketing. Okay. Right because you know you've got the the recurring revenue. Yeah. you can have a lot of people paying. That aren't even using your Jim Right and they won't quit because of they canceled into quitting themselves. Exactly. Right. Right. So there's a lot of great Lessons in Marketing for Starting Your Jim Chore. Did. You partake in any of that did you take any lessons? To help you like basically take off with. no. I wish I could sit here and say, yes no, the gym was more of a I lifted weights I tend was a d. bag and just kinda hung out all day I. Wish I took it more serious. We were successful despite me but we did well and it was a good good. Learning period for me. I learned a lot of what not to do luckily for me what happened for me was. January twenty seventeen. I had already sold the gym done well with that exit and I was looking at I was getting an offer on the bath company. I Read Rich Dad poor dad sounds corny but it's the real life I was my vehicle and I I listened to that. And something just kinda sparked in me I realized that despite the. Image of success and and being an entrepreneur and having these things I wasn't really. Proud of the way I had run these companies and so I completely rebooted. It was in January twenty seventeen. I started. My journey on working on myself. I quickly learned my level of success was not going to exceed my level of self-improvement, and so I started down this journey. I hadn't read a book since college and I have that problem too I. I knew everything when I graduated college. Yeah. Yeah. It's amazing how much you know and so for me I really decided I'm going to read a book a week. And that journey started for me in January of two thousand seventeen, I haven't looked back. Often weeks where two books go in and it's just it completely changed. My life is sent. So so people have this impression about me that I. took off very quickly and of course. As far as the logistics of. wholesaling that started in January of twenty eighteen. But there was twelve months leading up to that where I literally brainwashed myself, my wife would watch me I'd be cutting the grass listening to secrets of a millionaire mind by heart t harv Eker pointing to my head saying I have a millionaire my putting my hand over my heart and repeating these mantras and over the course of twelve months I completely changed my thought process and everything about me just as I started getting up earlier I started performing better and I just became a better man and so when you had the gym none of this was happening now. So like you're already, it succeeded despite you it did but. You still had your. One. Day Bathroom Remodeling Company, Right. So did you see that company just take off? It did and that's where I went out and sought out. Some contracts with the state, and so what happens is these folks go into nursing homes and they go into facilities and it's a lot cheaper for the state send them home but their home needs to be able to support them, and so they have a traditional tub or shower oftentimes, they can't get in and out and that's where most the falls occur. So I created a relationship with the state whereby they would hire my company to go in and renovate the space and get the the grab bars up in the walk. In Taba and the lower toilet or the toilet in the all the things that need to go into, make it Ada compliant before the person came home. So by getting those contracts with the state literally every morning, we would wake up and get a fax of jobs of facts and twenty eighteen from the state imagine that of jobs that needed to be completed that week. So my marketing essentially zero and we were getting more jobs than we could possibly do because of relationships though exactly right and that's what made that company. A salable asset was that recurring revenue similar to the gym where you have these people paying every month I had proven receivables coming, and that's why I was able to sell that business. Why I think it was a good point though you know we hear all the time you know relationships squad up, right? Right and I think that people now understand how powerful that statement is because you got your recurring business by facts but as because who you knew, right right who you knew what you're able to do for that. Person Make It make them look good for their boss, make their lives easier whatever it is. But one question you know a lot of us when we're newer, how do I do this? How do I get leads? How do whatever and the question really shouldn't be do I do this is like who do I know that can help me you're right either who do I know that can mentor me or who do I know that I can hire whatever but the WHO question is really the most important question everybody overlooks right. Yeah, and I found that person in Lance..

harv Eker Jim Bathroom Remodeling Company Pennsylvania Taba Lance
"matthew simmons" Discussed on Real Estate Disruptors

Real Estate Disruptors

01:48 min | 1 year ago

"matthew simmons" Discussed on Real Estate Disruptors

"So please ask your questions for Matthew. Answer You're ready I'm ready. Let's write a little longer than it usually is awfully everyone and still still with us So what got you into real estate. While so I got a little later starred than most I think especially the folks I see on the show but I I've been an entrepreneur. My whole life started in the health club industry Jim For sixteen years? Until. Yeah not like I used to in Pittsburgh. Sold that In twenty seventeen couple years before I sold that I started another company called keystone bath in Pittsburgh we specialized in like one day bathroom modeling for Seniors walk in tubs walk in showers all that stuff. That's incredible. One day. Yeah. Yeah. One Day installs and there's a huge demographic of older folks in Pittsburgh. So that business did really well I got an offer to sell that even though I wasn't actively looking to sell and so I found myself in December. Of twenty seventeen. Again without job talking to my wife, what are we going to do? What's my next move and I watched a youtube video for Maxwell? And decided. This looks cool. This kind of fits my my skill set it's sales it's real estate which I'm interested in I. Then watched a bigger pockets podcast with a guy named Lance Wakefield who is a wholesaler out of Dallas? Texas I tracked him down. At the time he was doing four, hundred, thousand dollars a month and I said I WANNA learn how to do this? He was nice enough to Kinda show me the ropes..

Pittsburgh Lance Wakefield Matthew youtube Texas Maxwell Dallas