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All Forum Posts by: Matt Kearney

Matt Kearney has started 3 posts and replied 138 times.

Post: Home Staging - How much?

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

I've been staging most of my homes for the past couple months.

The costs run about $500 per month total for furniture rental and my home stagers fee.

The goal is to not go over that first month!

Post: How soon do you start negotiating with Motivated Seller?

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

Hi Matt,

Yep, I just take a 1 page offer form or a Purchase and Sale agreement.

Usually we'll verbally hash out all the details and then I'll write it up.

Sometimes they'll want some time to think about it.... in which case I'll give them a day or day then try to wrap them up with a contract.

Good Luck

Post: How soon do you start negotiating with Motivated Seller?

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

Hi Matt,

If they are motivated and their asking price is within an acceptable range of what I'd pay I make an appointment right away to go look at the home.

Don't try to negotiate the deal over the phone. Meet them in person, build some rapport, then begin negotiating after seeing the home and meeting the owner.

You can start negotiating a little on that first call by asking them if they can do any better on the price.... but thats about it. Save the negotiating for when you meet.

Post: Marketing question

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

You need the For Sale sign.... it's one of the most basic things you can do to market the property but it is very effective.

I would think your realtor would want it up also too generate more business for themselves.

Maybe you should look into getting a new agent if they won't do the most basic things as putting up a For Sale sign.

Post: My first flip, detailed adventure

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

Looks like it's coming along nicely.

Post: Sacramento Flip

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

Nice Job Billy...... An offer is 3 days is great!!! :D

Post: calling home owners

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

Hi Nicolas,

Give them a call on the weekend!!

If you are calling a homeowner they probably have more time on the weekend to show you the house. If you are calling a realtor they usually work on the weekends too.... so they are use to taking calls 7 days a week.

Don't wait.... especially if its a good deal, come Monday morning it could be gone! :D

Post: Flipping profit

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

I use the MAO formula that Brant described above.

Here is a formula you can use:
Maximum Offer = 70% of ARV - Minus Repair Costs
(ARV Stands for After Repaired Value)

Its a quick easy way to calculate your maximum offer price. The formula builds in all your costs as well as your profit. The more money you wanna make on a deal the farther below that Maximum Offer number you need to buy.

Good Luck,

Post: Homes on Corner Lot...Easy to sell?

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

I have bought and sold a couple corner lot homes and never really had any complaints..... however I have heard that some people view them as less desirable.

I guess it depends on personal preference and what type of corner lot it is.... i.e. does it abut a busy street or is it a lightly traveled neighborhood, etc...

Best of Luck

Post: Where do you buy Stainless Steel Appliances?

Matt KearneyPosted
  • Real Estate Investor
  • Springfield, MA
  • Posts 142
  • Votes 103

We get all our appliances at Lowes and we are generally using only stainless steel.

We use the same sales guy... and we've bought so many from him that whenever a really good deal comes up he calls us right away.

We go a little higher end with our appliances, usually getting either the Fridgidaire Gallery line or the real nice Samsung stuff. Our sales guy usually gives us a nice discount (15%) plus we also use discount cards and coupons for another 5%-10% off.

We do order a lot of appliances (we ordered 10 sets one month, costing around $20,000). Trying to peice together scratch and dent stuff, or shopping off Craigslist gets too cumbersome when you are doing a good volume.

One thing we use to do was try to get 1-2 pieces deeply discounted (display models, scratch and dent, returns, discontinued) and then buy the matching pieces of the set for full price. This would bring our cost for the complete set way down.

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