Matt Garabedian has been a real estate investor since 2010 and he is dominating his market with a team of professionals in wholesaling.
Resources:
Phenom Investor Blueprint course. Check it out by clicking here
Contact Matt:
-Instagram:
@thephenominvestorblueprint
-E-mail:
matt@thephenominvestor.com
Ep 001 Show Notes: Get started in real estate investing with no knowledge
1:35 – Fearless 5 questions:
- Matt’s most interesting
story in real estate was the one that changed his life. He cleared $500K on a 17 unit apartment complex. He got the deal from a networked relationship - Matt’s favorite part about real estate investing is the time freedom
- Matt’s favorite way to market is direct mail
- Matt went to college at Long Beach State and graduated with a degree in philosophy
- Starting at the 6:20 mark, Matt begins to share his story of how he was born and raised in Fresno, played sports, didn’t know what he wanted to do for a career, got introduced to a door-to-door sales company and fell in love with opportunity of sales. But because his parents didn’t want
him to take the job, he went for his masters and then came back to Fresno, and that led him to re-connecting with a friend who was wholesaling real estate
12:30 – Matt talks about how the real estate collapse of 2008 ruined his life and how he lost his house.
13:00 – Matt knew he wanted to stay in real estate, so he became a broker and started learning more about how to speak to investors. And because he built great relationships with investors and needed more money, he offered
to manage these investor’s properties.
14:45 – Matt points out that he didn’t know much, and he also was still searching for what his niche was going to be in real estate.
15:45 – Matt finally started educating himself about wholesaling in 2010. He started when no one knew what wholesaling was. He invested in Fortune Builders to further his education.
17:00 – Matt just kept testing out things, he took action, and it was the action that trumped his knowledge.
17:30 – Matt continues to invest in himself today. Especially in self development.
19:00 – Matt attributes much of his success to his relationships and his team. He points out that the lone wolves won’t make it very far in this world.
20:15 – Matt has closed 60 deals in the first six months of 2019 and his goal is 150.
21:15 – Matt talks about the structure of his team in his office and how he is being selective in who he hires. He points out that you don’t need a huge team to do a large volume of deals.
24:00 – It’s easy to get bored and desensitized in this business, so what is going to keep motivating you?
26:15 – You are not in the real estate business, you are in the marketing business. You have to be willing to reinvest back into the marketing of your business.
27:30 – Matt talks about re-adjusting your money blueprint. He discusses the difference between investing vs. spending.
28:40 – Matt encourages people to connect with him (check out his contact info above).
29:20 – Matt’s last bit of advice is that you are in competition with yourself and no one else. Drown out the noise, focus, and take the leap
Ep 002 – Basics of wholesaling real estate
1:45 – Matt breaks down the basics of wholesaling.
Simply: Person A sells a contract of their property to you, person B, below market value, and you then sell that contract for a higher price to person C. You keep the difference as your profit
5:50 – Matt shares the story of his first wholesale deal. He discusses how he found the deal, how he negotiated with the seller, and how he found the buyer. Matt made $27K on the deal
8:15 – Matt discusses how he would have only made $1,500 if he was an agent for that first deal. You have to decide if you are an agent or investor
9:30 – Matt’s team closes 1 out of every 25 prospects. You have to reverse engineer where those prospects will come from. Direct mail, door knocking, cold calling,
etc.
11:00 – If you have money to start in wholesaling, start with an educational course. If you are low on budget, buy a list and skip trace. You can also drive for dollars.
12:20 – Matt talks about the art of direct mail.
12:50 – Find a local mentor to help you cut out time and mistakes.
13:50 – Focus on money-making activities: cold calling, networking, driving for dollars, band it signs, and more. Matt really encourages cold calling.
15:00 – You aren’t an investor until you have done a deal. Until that point, you are just learning.
16:10 – You have to have energy and confidence when talking to prospects. Develop rapport with the prospect.
17:30 – Matt isn’t trying to sell them, he’s trying to provide solutions and see if it’s a good fit. Help create a positive experience with your prospect.
20:55 – Matt doesn’t take orders from cash buyers; he brings off market opportunities to that list of buyers. Put time into building relationships with your cash buyers.
23:20 – This is a terrible question to ask to potential cash buyers: “What types of deals are you looking to buy?” Instead, do your research, and ask questions that relate to them and their past deals.
25:30 – What’s your end goal? How can you structure your business to serve your desired lifestyle? Matt points out that there are other ways to create passive income in real estate outside of rental properties.
29:40 – Matt’s last piece of advice: burn the boats, there’s no plan B. Go all out with real estate investing.
[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_signup mailchimp_list=”undefined|” layout=”top_bottom” name_field=”on” title=”Download Your Free Starter Guide” button_text=”Yes! Please Send It” description=”
Want to start investing in real estate, but have no idea where to begin?
Get your free Real Estate Guide below.
” _builder_version=”3.26.6″ header_text_color=”#ffcd00″ body_font=”Poppins||||||||” background_color=”#262a23″ border_radii=”on|17px|17px|17px|17px” custom_button=”on” button_text_size=”16px” button_text_color=”#ffffff” button_bg_color=”#e09900″ button_border_width=”0px” button_border_radius=”44px” button_font=”Poppins|600||on|||||” button_custom_padding=”12px||12px||true|false” text_orientation=”center”][/et_pb_signup][/et_pb_column][/et_pb_row][/et_pb_section]