All Forum Posts by: Matthew Forbes

@kevin Gerace

Good for you for going back over there. It may not have been received well, but I would almost guarantee you are the only guy who is going to do that, I would stay on them. Do some research on how much it is going to cost them to rehab the thing including time and all that and make a real offer. Lots of time on the airplane to decompress and realize just how attractive 70K in the bank looks as compared to all the work they are currently doing on the way back to phoenix . I think you would land 3 in 5 of these. Good luck.

Although I love all the comments on this thread, no one is talking about the obvious: This guy is from out of state wearing a containment suit and a mask.  My play on this is as follows: 

1) do everything all the real investors are saying on this thread.

2) Go see him again and walk the property on the inside.  Get in it and show him you are serious, by walking the inside.

3) On the walk through find out how desperate he is to sell, and talk about what it would take to rehab this house or tear it down and re build, remember you are the expert on this not the guy from out of state.  My guess is with a little report you can make it work.  I would love to hear how this goes for you, please provide updates and good luck.

Dalyn,

I am also a new to this world so I will share with you what I am doing to get myself educated:

• 1)Go pro – No I don’t work for BP, but you get the tools you absolutely need to be successful as a pro member hands down.

• 2)Listen to every single BP pod cast. So far I am about 90 in and it is exactly the education you need. I listen to them in order from newest to oldest regardless of the topic so I can learn about all angles of this business. It is truly amazing what you can pick up.

• 3)Take action. Get a goal and go make it happen. Without it you are guaranteed to never make it happen.

• 4)Don’t take it too seriously – it’s a lot to lean and that is why people never really get in to it.

Good luck!

Matt

I'm new so take this for what it is worth: If you could just hop on the MLS and piggy back deals everyone would do it because it would be easy. Real wholesaling = Marketing from a lead perspective and that's why many people want to do it, but never do. Call me nutty but if you can get out there and find great deals you will be able to find buyers in this market. I am about 90 1 hour Pod Casts in to my Journey with BP and recommend you do the same. It is one hell of an education.

1) Finally start sending direct marketing for Wholesaling and get started.  My time line got pushed 3 months because of my real job.  NO MORE EXCUSES!  2016 will be a big year.

2) 2016= My first 5 deals.

3) Get more involved with the local REIA groups.

Rich,

I am also new to this in MA.  Sounds like there is some good money to be made, May I suggest finding a decent Wholesaler and go 50/50 with him on the profit?  (For the record that is not me).  It might prove to be a great learning experience for you, and still make some money at the same time.  I have been reading / listening to everything I can get my hands on with BP, and Wholesaling is only as shady as you make it.  Don't listen to the negative comments, get out there and make it happen.

Hi Leslie,

Like you I am new to this world, and was also an a"accidental landlord"  My advice for you is to spend some time on the site and get an education on your options.  It sounds to me that you are in a terrific position to turn everything around for yourself.  I have made it a goal to listen to every single Podcast that BP has done, and it is a real education on the possibilities.  I  listen to them at the gym and on my way to work in the car.  I think you will get some good responses for people on the site, but you have the opportunity to to make it a great situation if you take the time on to learn on BP.

Good luck,

Matt

Charlie,

I love the enthusiasm, I can't get there till around 8, how long so you think it will go?

Matt

absolutely.   

J. Scott,

I loved your book on Estimating Rehab costs.  It has given me the confidence to meet with motivated sellers and price deals accordingly as a new investor.  It's hard to find real estate investing books that cover the topic as well as you did. 

Thanks,

Matt