How One Real Estate Investor Did Over 4000 Transactions – Episode#434
Sep 14, 2023
How One Real Estate Investor Did Over 4000 Transactions – Episode#434
My guest today is veteran real estate investor Matt Larson. Matt is a full-time real estate investor with 17 years of experience who invests in multiple markets. He has done over 4,000 real estate transactions. Matt currently uses VAs to run this large-scale real estate investing business, but it wasn't always that way. At one point, like so many businesses, he had a pretty big staff that was a cash-eating machine.
Listen in as Matt talks about how he has systematized his business, so it requires very little of his time. You'll also hear about all the ups and downs of his journey, including what happened in the real estate crash in 2008 (and how he came back even more significant than before). This is one podcast you don't want to miss!
[00:00 – 07:23] From Discouragement to Creating Real Estate Education
Matt shares how he got into real estate investing
In 2008, he left his job to focus on real estate and by 2013, had 450 properties in his portfolio
[07:24 – 14:47] How Sitting in the Room with Influencers Changed One Entrepreneur's Mindset Around Business
Social media have made everybody an influencer, but 95% of it is not real
It is possible to run a business virtually without effort and without walking a house for 7-8 years
Single-family homes are attractive because everyone needs a place to live
VAs hired for their core values and skills required for single-family homes
[14:48 – 23:30] Replacing a Full Staff with VAs:
Acquisition salespeople are creative people, while lead managers are detail-oriented and organized thinkers
When a lead comes in, the lead manager reviews all the notes in the CRM, runs comps, and determines the maximum offer price
Team leads, and managers are paid 10 to 12 an hour, while acquisitions VAs are paid ten an hour plus a bonus for every closed deal
[23:31 – 28:06] Using Discretion and Lead Stacking to Grow Portfolio
Americans use discretion, which is the enemy of duplication
The strategy was to buy low, rent high, and sell at the top of the market for a profit
The lead stacking strategy is to focus on high equity non-owner occupied and vacant non-owner occupied lists
Track KPIs closely and buy new lists every week as old ones age
[28:07 – 34:40] 5 Years to Financial Success
Focus on refreshing data and running two lists that will outperform
Run aggressive follow-up sequences for leads
Follow up with emails, texts, and phone calls
Customize follow-up sequences for different motivation types
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