On The REIClub podcast, Don Costa interviews Dr. Matt Motil who is a local in investor from Ohio that focuses on rental properties and cashflowing real estate. Tune-in as we share some of his best practices that are working right now in today’s market…
This is both Don’s and Matt’s first show with The REIClub.
Let’s get started…
Real Estate Investing for Creative Real Estate Investors
1. A Brief Introduction of Dr. Matt Motil
He is an engineer by degree.
Matt spent 17 years in the construction industry.
He was able to leave his job by leverging cash flow real estate.
Eventually his passive income exceeded his monthly income and he fired his boss forever!
He now runs a company, The Marie Paul Company, that provides rental real estate for remote investors.
2. What Do You Do and How Do You Do It?
Matt has a good size rental portfolio in Northeast, Ohio.
He does pure wholesaling with providing a whole new level of service.
He thought “what if I could take care of everything?”
And he did just that!
His company finds deals, they secure the deals, they send in a 3rd party inspection company, and they send in contractors to make the property rent ready (health & safety issues up to date).
When they send a deal out with the numbers, he made a system of not just taking his word, but being shown the facts with a licensed 3rd person party inspector.
Also, the contractor quote is from someone that doesn’t work for him.
Matt has lenders that are doing 100% loan to cost without 0 seasoning.
He wants you to win!
3. What Are You Doing For Marketing? How Do You Get The Deals?
Matt gets a lot of deals on social media.
He runs paid traffic.
From social media alone, he finds a good number of deals and a lot of people find him for deals as well.
Direct mail is huge!
At the end of the day, this is just a sales thing.
4. Do You Use PBC?
Matt has done a little bit of PBC.
He hasn’t found someone super trusting and that he really likes.
He sticks to Facebook, Twitter, Instagram, and LinkedIn.
5. Tell Me About The Direct Mail Aspect…
Matt said you need to hit your email list regularly AND repeatedly.
The money is in the follow up.
Statistically, someone needs to see your message 7 times before buying from you.
It’s all a timing thing.
You need to keep hitting your email list to decide whether or not its a “good” list.
You need to hit postcards always 1st round.
It is the cheapest bang for your buck.
You WILL get return mail, but that just helps you clean up your list for the next round.
There is value following up with return mail.
6. Where Do You Find End Buyers?
A good portion of Matt’s list growth comes from referrals.
He has gained a high ranking of social proof, and you can’t put a price tag on that.
He loves to just say “google me, google my business, google my company!” Just because there is no bad reviews and that says enough in itself.
7. How Do You Get Paid?
The company puts it under contract and sells the deal at a higher price.
They have structured the contract so all the services are included in the sale.
8. Does the Rehab Get Done Before or After The Sale?
It depends on the deal.
Some deals the company will do a double close.
Some deals the company gets paid at closing.
9. What Advice Would You Give Someone Who is Just Getting Started in Real Estate Investing?
To get off your ass and take action!
Matt always found himself saying the timing isn’t right, I don’t have enough money, etc.
The timing is never going to be right, you are never going to have as much money as you want, you are never going to have the team built that you wanted, and you are never going to have the buyers list as comfortable as you want to start out!
Realistically, whatever you are telling yourself, just go do a deal!
If you need help, get a mentor.
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