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All Forum Posts by: Matthew Elmer

Matthew Elmer has started 0 posts and replied 10 times.

Post: Your Best Deal Ever

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4

Best deal ever, was a short sale I worked.  Seller got stuck with a million dollar home after an owner finance buyer promised to pay him $100,000 and never did pay.  I was able to get a discount from the bank of over $650,000.  

I bought it for $350,000 and sold it for $650,000 after carry costs, rehab, and sales costs, netted out $195,340.  Not a bad years worth of income that day, lol.  

One major important point to know is I did a lot of other deals that paid me $5k to $25k before getting this deal.  Now, I've honed in a process for profiting bigger, but if I wasn't fishing I never would have caught the big one.  Get your pole in the water!

Matthew Elmer

[LINK REMOVED BY MODERATOR]

Post: What do you wish you had known before your first purchase?

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4

Bottom line the value of a property is never 100% known.  The only facts you can get is those based on previous sales, or what we in the industry call comps.  

Basically, you want to think, in the condition this property will be in when I go to sell, what can I absolutely be sure it will sell for, based on what others have sold for.  There is an art to it in some situations where there aren't a lot of comps, but if you are starting out, start with properties you can comp out easily.  A good agent should be able to help with this.  

If you are ever traveling through Dallas, I go through this in my 3 day training in detail.  Bottomline, can you find a similar property or properties that have sold in the immediate area of your subject property that are the same condition and the same size.  

If you can't logic it out, you don't have a good comp.  However if you can say, oh this house which is only 100 square feet larger, in its condition, sold for $150,000 last month then you can pretty well figure your house can conservatively sell for $145,000 if you put it in the same condition.  

Working with an agent they can explain reducing to price per square feet for more accuracy, but hopefully you get the jest of what I'm explaining.

Matthew Elmer

www.therealalliance.com

Post: Looking For an Experienced Perspective

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4

I like the Rule mentioned in Tony Robbins Book Mastering Money when he interviewed one of the greatest investors of all times,Sir John Templeton... "You Sell an asset, only when you think you have found a different asset that is a 50% better bargain than the one you have. Sell your investment for another investment when you feel the other investment has 50% opportunity."

Can't make it much simpler than that.

Matthew Elmer

Post: What do you wish you had known before your first purchase?

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4
Great question, I think the simplicity of investing gets clouded in all the techniques and strategies you find in all the different books, webinars, articles and blog posts. I wish I would have truly know how to value a property before I bought my first home. With the first four homes I bought, I trusted the mortgage professional who referred me to the deals. Instead of getting inspections and foundation reports I chose to save the money, and trust the seller was an honest guy. I've learned now in real estate, trust nothing other than the cold hard facts. If you can't explain it to someone else why the property is worth an amount higher than what you are paying to a profitable degree. "Forget about it!" No one will ever care about your success and your profit like you will. So get educated, learn the game and trust only the numbers. Massive Luck to you! Matthew Elmer Www.therealalliance.com

Post: The Real Alliance

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4
Originally posted by @P. Martin:
Originally posted by @Matthew Elmer:
Originally posted by @P. Martin:

Hi Matt, not sure if you remember me! Probably not! @Matthew Elmer

 I wanna say BPO man, but if I'm off sorry, I definitely see a lot of faces.  Either way, I hope your doing well, and the investing has been as good for you this year as it has for our team.

Hah. Yes, close enough! At the time I was running BPOs for an REO broker in DFW. Helped Rob with AV production for a 3 day. Wanted to help with marketing but lost touch and moved out of Dallas.

 Well, I've gotten older, but my mind isn't failing me just yet.  Of course I remember you and all your creative wonder.  I'm off to edit some more training videos, but come by the office some time man, it would be great to reconnect.

Matthew Elmer

Post: I guess I should formally introduce myself-- newly active in San Antonio

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4

Don't know San Antone, but start with your values for each idea, its all a numbers game!

Which ever provides the best return with the least stress, is the one I go with.

Matthew Elmer

www.therealalliance.com

Post: The Real Alliance

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4
Originally posted by @P. Martin:

Hi Matt, not sure if you remember me! Probably not! @Matthew Elmer

 I wanna say BPO man, but if I'm off sorry, I definitely see a lot of faces.  Either way, I hope your doing well, and the investing has been as good for you this year as it has for our team.

Post: The Real Alliance

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4
Originally posted by @Anthony Armstrong:

@Chase McGough Thanks. I'm looking to make my decision here before the new year. I'm down to two brokerages. Looking to start 2015 off with a bang!

Anthony,

How is the investing coming along? You should definitely come by one of our trainings. We have one this week on Wednesday night, you can check out the calendar on our website. I'm going through a topic I taught at the REI Expo in January.

Chase I'm pretty sure has been through our 3 day training, and can tell you if its good content or not, and Meghan will shoot you straight.  We definitely aren't for everyone, but if you are serious, I think you will have a hard time finding a better group of people to hang around than the Real Alliance members. 

Matthew Elmer

CEO/Head Coach/Pathological Entreprenuer

www.therealalliance.com

Post: The Real Alliance

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4
Originally posted by @Josh R.:

I believe the Real Alliance is geared towards getting rookies in the door with a free seminar (meeting) then attempting to sell you a 3 day training program that costs around $1,000. They focus heavily on Sub-2 from what I understand.

Josh,

I'm just reactivating my Bigger Pockets account so I can help clarify some questions people have on our company.  We actually aren't huge fans of Sub-2's at the real alliance, not that we don't agree you can do them.  They leave the investor in a ongoing predicament in the case the new buyer doesn't follow through though, so just tread cautiously.  I had to work a short sale on an uninformed sub-2 investor who screwed his buddy cause he mis managed the funds he got from the buyer.  I ended up helping the agent who didn't know what to do, and getting the original seller $3,500 from the bank but it still jacked with his credit quite a bit before we got it resolved.  

We do like a slightly different process that helps the investor to limit the liability while still being able to assist people who are unable to sell their home because of minimal equity.

Beyond this and regarding the 3 day training program.  Your phrase "geared towards getting rookies in the door for a free seminar... then attempting to sell a 3 day training that costs $1,000." is one take, with a slight bias on our program.  Which is fair, most of the scum bags in this industry make my life more difficult.  And frankly if someone is committed to never investing in themselves, then adopting that take makes sense.  

Our actual intent in our free trainings is to give people some really valuable information about the market and the strategies that we see working from our experience in working with over 400 real estate investing deals here in DFW over the last 3 years.  There is a problem out there with investors doing it wrong, taking advantage of people, and flat out screwing up the market for those of us that want to do it right.  Someone has to educate people the right way.  I feel bigger pockets is trying to do this, and so are we.  

However, I believe most of us after a while of trying to do this through free articles begin to look for a mentor or coach cause just like in sports that can accelerate the speed of success.  We do offer training and coaching programs some much less expensive than others.  My take, is trust me with 2 hours of your time, then use your own adult decision making capabilities to decide if I can help take your investing to the next level.  If I can then awesome, invest something in yourself, and if I can't I promise you will have gotten some great information worth your 2 hours.

One final point about the "rookie" comment, we have tried very hard to make sure our education is valuable not just for the rookie investor, but for the investor who is doing 2-6 even 10 deals a year and having trouble stepping it up.  With some of our members now doing 40+ deals per year, I'm confident we can take more than just rookie investors to another level, and statistically, about 20% of the people who join our trainings at any level already have done more than 10 deals.

Best of luck to you JoshR I'd love to hear about any deals you find in the area that we could potentially buy.  

Matthew Elmer

CEO/Head Coach/Pathological Entreprenuer

www.therealalliance.com

Post: The Real Alliance

Matthew ElmerPosted
  • Real Estate Investor
  • Aubrey, TX
  • Posts 10
  • Votes 4

Tracy,

I have been, lol.  And we'd love to have you out if you haven't already been.  We are a down to earth group of investors who are serious about results.  Yes, we have various costs to our programs, but many of our free trainings will blow your mind.  Which is where everyone starts regardless if they plan to spend more on their education or not.  

The most common thing I hear people say that go through our trainings is, "I wish I would have found you first."  

I'd be glad to meet with you personally after one of the meetings for a quick 15 minute strategy session.  We aren't the only solution, but have proven to be a good one for many people.  

The challenge in investing education starts with the fly into town gurus who don't know your market and just want your money with minimal support.  The info isn't bad, and I've personally invested a lot in many of those, cause I always get something, however, much of the info is fragmented leaving you having trouble with the next step.  We've aimed at filling in the gaps through our education models.

The other model of real estate education is through the REIA groups, who create more connection, but once again bring in speakers with their 1k-2k products that will supposedly revolutionize your real estate investing business. We believe that its not about some other software system, or this brand new strategy, rather its effective deal analysis so you don't loose money, aggressive marketing to bring the deal flow in, and systemization so in a reasonable period of time you can actually have freedom even while flipping 6-12 properties per year.

Getting your license isn't free, nor is going through our education.  It is kinda funny how long I spent thinking one day I'd read enough free blog articles or $20 books that would finally make me a real estate millionaire.  Our goal for our investors leaves out the millionaire hype.  Rather we lead individuals to creating small businesses using the vehicle of real estate investing.  You can go at it like I did reading blog posts, and articles, for free. Try the school of hard knocks and search feverishly for support peacing together information little by little.  For some that is the right path.  But for those that are looking for a more systematic approach our track record is pretty solid, and I'd put our coaching up against anyone.  In fact, I'd love to hear directly from anyone who is not totally elated with our training, and our company for any reason other than that we are charging money for the value we bring and they were hoping we'd give it away for free.  Some people don't believe in selling Real Estate Education.  Or that everyone who teaches can't do.  You are probably intelligent enough to determine that for yourself.   

There are a lot of smart people here on bigger pockets as well.  Just be careful who you trust.  Not everyone who charges you money for info is really giving you good info, and not everyone who offers you free advice is really giving you the best advice.  

Once again, we'd love to have you out to an upcoming event.  

Either way though good luck in your investing.  With the market at 1.4-2.0 months of inventory in the DFW market, its a great time to be investing.  Just watch those numbers close, cause you don't want to end up like the fools in 2006 who thought the ride would go on and on.  There is a strategy for every market.  Get educated, learn all you can and you can ride the waves that come.  

Take Care,

Matthew Elmer

CEO/Head Coach/Pathological Entrepreneur

therealalliance dot com

PS We have a few of our members on here, and I'll try to get more of them on here, to share the good and bad about what we do.  Hopefully, most of it is good. But maybe they can shoot some holes in our processes, so we can make our processes even better.  We are committed to being the hands down best chance for Real Estate Investing success.