How E Custom Marketing Strategies Help Clients Sell Their Homes
Barry Mathis focuses on helping people buy and sell a property for nearly two decades in the Sacramento region. He is an experienced broker with records for multiple brokerages, a franchise owner and investor, and a property manager. He helps his clients sell their homes for more than 5.4% more than the average agent.
As an industry veteran, he is often an early adopter of technology and business practices and is a team leader and a mentor of other agents at the fastest-growing real estate company in America, EXP.
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Brett:
Today’s guest is not going to disappoint. His name I’ll tell you in a second, but his focus has been on helping people buy and sell a property for nearly two decades here in the Sacramento region. He has experience as a broker of record for multiple brokerages, a franchise owner and investor, and a property manager uniquely positioned him to serve his clients’ interests like few others, as a top-performing salesperson and he custom marketing strategies. He helps his clients sell their homes for more than 5.4% more than the average agent. As an industry veteran, he is often an early adopter of technology and business practices and is a team leader and a mentor of other agents at the fastest growing real estate company in America which happens to be EXP as well as happens to be the brokerage where I also have my license as well. Please welcome the show with me, Barry Mathis. Hey Barry, how are you doing?
Barry:
Hey, doing excellent man. Thanks for the invite. Always glad to talk about real estate. I love that. It’s been good to me and I love talking about it.
Brett:
Absolutely. Well excited to dive into the story here with you and get to know you a little bit more and share some wisdom with the audience. We are going to be talking basically about multifamily investing, we’ll be talking a little bit about what Barry is seeing in the marketplace. And also a little bit about EXP, we’ll touch on that. Barry to start out, would you give our listeners or getting to know you for the first time a little bit more about your story and your current focus?
Barry:
You know, focus on me is kind of an interesting word because I do a lot of different things. And I’ve got some friends that are very successful in business. And they’ve always said, Why don’t you focus on one niche?” So over time, that niche has developed into an investment property. However, I’m all over investment property because I just like learning and I like learning about real estate. And real estate is such a great industry because you can do all types of it, you know, and you have so many different roles you can play in the industry. So that’s, that’s kind of a little bit of background for me, you know, I have served a lot of different roles. And that’s brought me a lot of experiences. And you know, it really broadened my knowledge of it. So I didn’t go to school too much to learn all of that. I just did it. Sometimes that takes me longer to learn than other people. Sometimes I fail at things repeatedly. But you know, over the years, it’s been pretty good. And right now it’s been a good season for me.
Brett:
Love it. Thanks, Barry for sharing that. And we’ll dive into more of the lessons learned over the years and in ways that you uniquely help your clients. But before we go there let’s take one step back. Let’s go back to the high school days, of the university days. And I believe we’ve all been given certain gifts in this life. And these gifts I believe have been given to us to be a blessing to help others. Some people call them the strength, some people call these superpowers. So I’m wondering, Barry, what are those one or two things that you believe you were given? And how does that help how you help and bless people today?
Barry:
I’m gonna misquote this a little bit, but it’s from one of the sales trainers. I think Chet Holmes, and it’s a pigheaded stubbornness. And, and so I have a pigheaded stubbornness and that I go after something and I keep going after. And so that willingness to continue to do stuff even after the first few times have it worked out is probably my superpower.
Brett:
It’s a great superpower. Maybe the honey badger comes to mind, right? And if you’ve seen some study of the honey badger but that’s always a relentless inspiration for me if I’m going you know, let me go somewhere where and be with people who are being relentless and are pursuing their goals with a passion. So I love that. So now let’s dive right into multifamily investing. So Barry, what are you seeing right now? And what’s, what’s the biggest secret to finding deals for your clients?
Barry:
You know, I think one of the fun things I’m doing right now, a lot of times I like working with people that are just getting started. I figure a lot of people that are very sophisticated and are working on 440 unit apartments, don’t really need my help. And one of my things is I really love to be valued and so helping people get their first investment property is something I love to do or transitioning them from a single-family into multifamily. Maybe they’ve got four or five or 10 rentals and we take them into a multifamily right now. I’ve got a client that’s using an FHA loan to buy a four-unit complex. So a four-unit property so that he’s going to live in one unit and rent out the other three, that type of house hacking is all the rage in various forms. And I love that that’s a great opportunity.
Brett:
I think that’s so smart. And it’s, it’s often overlooked. But that you can get fixed financing for 30 years at some of the lowest rates ever. By being an owner-occupant up to one to four units, okay. And now you’ve locked in. I mean, if you think about even just inflation, if you keep that thing for, for those that amount of years, and then you eat, you live in it for a couple of years, and you could always move out. And now it’s just an investment property, you really don’t have a lot of downsides. Any thoughts on that, Barry?
Barry:
Yeah, the main thing that stops people from doing it, and what would stop my wife from doing it is that my wife wouldn’t let me. So most of the time you find those properties, they’re not as nice as what you could afford. If you weren’t doing that, right. So you could afford a Granite Bay or Roseville, Rocklin house, but when you get into the multifamily, you’re going to live in a lower neighborhood, you’re going to live in Citrus Heights, or antelope or something like that. And for that, to be able to afford those other three units. And so, you know, I think people have to be willing to sacrifice today in order to have a better future for tomorrow. And that’s been true throughout history, not just during this season, but it’s especially true now.
Brett:
Yeah, 100%, right, you’ve got to be willing to do what no one else is willing to do. So later, you can do what no one else can do. It’s kind of announced by Dave Ramsey and a number of people. So love that. Okay, so using FHA loans to house hack, and then you love value, being valued, and helping those that are most in need. I think that’s actually motivated to get started and or transition from single-family into multifamily. I love that. So the next thing would be just the overall sacramental market. I mean, what are you seeing? What’s your take on this last year? Is it like anything you’ve ever seen before?
Barry:
The market is definitely hot, you know, going up 13-14% over the year. I think in particular, the space that I look at the most on their rental properties, and property management and things like that are I use something called a duplex index. And so if you if somebody wants to shoot me an email, I’ll be glad to send it to him. But my, the duplex index is basically I look at the last 90 days of sales for duplexes, and then I clean that data, but I’m looking at what was the rental income on those duplexes, and then how much the duplexes sell for, and I take out a gross cap rate if you want to if there is such a thing. And then I divide and then subtract for what would be the standard operating expenses. And so basically, we pull out a percent and a half are 2%, for that gross operating expenses, that takes you back down to the net, and you’re left with a number that tells you what are people paying for an investment in this market. And from there, you can use that number to either judge an investment property as either being a good investment or a bad investment, riskier, more reward, however, you want to do that. So that duplex index is kind of my base of how I measure the other properties.
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