Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Happy Wednesday. Yo, yo, I'm loving this. Matt is joining
us today, guys, if you are not already in the loop,
Matt is a personal friend of mine. I know he
is also friends with Don and Gavin here. I was
actually just with Matt and Costa Rica last week and man,
(00:28):
we had a great time, awesome time. Matt. I want
to thank you for coming on our live show today.
We do encourage the audience to interact with this show,
and if they have questions along the way, we encourage
them to ask those questions. So from time to time
you may see some bubbles pop up at the bottom
of the screen with questions from the audience and Matt.
(00:52):
We really want to learn more about rehab Estimator Pro
today and this is a software that Matt's working on
for years that will take the guesswork out of estimating
repair costs. Such a cool product. Matt, how are you, man.
Speaker 2 (01:12):
Good man? Getting uh, getting my legs back under me here.
It's after spending a couple of weeks in Central America.
It's always a radical adjustment to come back to the States, right,
that's right, especially with that infinity pool overlooking the Pacific.
Speaker 1 (01:27):
Yes, that was awesome. I was trying to get down
and Gavin to come last minute because it turned from uh,
you know, a mission style trip where we were sleeping
in like tents to you know, a vacation style trip
where we were sleeping in this big mansion and it
was awesome. But all in all, great trip. Definitely, it's
been a week, Matt. We've been back a week as
the last night, and man, time flies, so it does. Man,
(01:52):
it's crazy how fast it flies. But but again, yeah,
good to.
Speaker 2 (01:57):
See you, Gavin. Don Man, it's been it's been too long.
Speaker 3 (02:01):
Yeah, Toulom was the last time I saw you, buddy.
Speaker 2 (02:04):
That's terrible. Man. Hey, the text are still going back
and forth. So keep in contact anyway we can, right, yep,
for sure, Sure, that's right.
Speaker 1 (02:13):
This is a great opportunity to connect as well. Guys. So, Matt,
what is rehab Estimator Pro? How long have you been
working on it? Why should somebody have interest in it?
Speaker 2 (02:24):
Good question, man, I appreciate it. I've I've been with
all you guys individually, even on this, so it's it's uh,
you guys always have great questions and and you guys
have all been in the business long enough to realize
the relevance you know what this is, but it is
UH software have been working on for about four years. Uh,
super exciting. It's we we keep it simple, man. We
(02:45):
we don't try to add every little, you know thing
along the way to to make this some kind of
you know, massive project management tool with CRM, you know,
we we want to keep the basics of actually being
able to estimate repair costs without being a general contractor.
The premise in developing this was to be able to
basically send anyone out of your office to an appointment
(03:09):
and or or even online through Zoom, you know, through
the pandemic last year, to be able to estimate repairs
quickly and accurately with just the click of a button.
Speaker 1 (03:19):
Awesome. So you don't have to have years and years
of experience estimating repairs or have have previously been a
contractor a general contractor. So what you're saying is, essentially
we could send the bookkeeper.
Speaker 2 (03:34):
That is man, you nail that that's uh you remember
that from Ango. That was that was at premise.
Speaker 4 (03:41):
Man.
Speaker 2 (03:41):
I I actually, you know, my bookkeeper comes in. I
wanted to be able to send her uh and out
to out to any any appointment and be able to
come back and trust those numbers. So it's it's just
it's such a massive hole in our in the business.
Nobody teaches it well and nobody has a system like
this out there. So everybody throws repair calculators in their
(04:02):
in their software, but nobody does what we does. We do,
which is basically just click of a button and it
calculates for you versus you having to pre input amounts,
and it's basically a training just on visual you know,
what do I see when I drive up to the house?
You know what? That's the only training that's involved is Hey,
which buttons am I pushing? So uh, it's it's it's
(04:23):
just a key part we've been focusing on, you know
so much. The fact that pairing that with the comps
that we provide now that we that we do pay for.
It's not just a Zilo API, you know, they killed
that for everybody. So we're actually providing you with a
great comping tool plus the repair cost. What does that
get you? It gets you right to a cash offer
that you can send right there from your email, right
(04:45):
from your tablet, your phone. And that's what this is about.
Right If you're not sending offers, You're not getting.
Speaker 1 (04:50):
Deals, man, Isn't that the truth?
Speaker 3 (04:54):
You know, one of one of the biggest challenges. Like
right now we're we're moving into new, new areas and
new markets, and you know, we'll probably get into it
later in the call, but we I wiped out my
entire sales team and so I'm actually taking calls again.
We got some new people starting in this next week
of me training. I'm actually jumping on the phone in
a brand new market and trying to like wrap my
(05:15):
head around the numbers there, like what's the RV's, what's
the what's the rehab costs in that market? All that
kind of stuff, And it makes me feel like, just
from in my head perspective, it makes me feel like
I'm brand new again. And it takes me all the
way back to standing at home depot trying to price
things out, trying to get my head around the numbers,
trying to make sure the contractor wasn't taking advantage of me,
all that kind of stuff. And what this tool does
(05:38):
is it removes all that brain damage. You know, literally
you can go through and click things off and remove
all that brain damage. And that's that's the important part
of this from from just a newbie perspective, if you're
watching this and you're thinking about, you know, doing rehabs,
this tool removes all the guesswork. It takes the learning
curve what took me months and months, probably even a
year to really nail down, and takes all that us
(06:00):
work out of the way number one. Number two, if
you're trying to build a team, like my acquisitions team
that I'm bringing on at now is going to be
trained starting from day one, and we have estimated pro
because I know that there's not any thought that has
to be put into checking the box, like just what
do you see? What do you check? And that's it
give us an accurate number. And so it's an amazing tool,
(06:21):
and it's something that I wish I would have known
about when I got started back up again in twenty
twelve or even way back in two thousand and three,
because it just took a lot of brain damage away
from all of the guess work.
Speaker 1 (06:32):
Yeah.
Speaker 4 (06:32):
Absolutely, I just want to jump in as well and
just say something. Hopefully my internet's okay, guys. But when
I started in the business, I can't fix anything right,
I mean, I'm not I'm from England. I've never done
anything anything in my hand I can't do nothing right.
So when you get into real estate and I'm in
sales and marketing, I feel I can sell anything and
(06:53):
do all that. But the bit that I was held
up on is I would I started virtual because I
was scared of going in the house, right because I
don't know anything and which is a roof.
Speaker 1 (07:04):
No idea does it need this?
Speaker 4 (07:05):
Absolutely no idea couldn't tell you anything. So I chose
not to go. So I started my my real estate
journey being virtual. But with this tool, after you took
us through it, Matt was genius in terms of nothing
else is like it on the market, right, That's what's unique.
It's not like this is a copy of nine hundred
things that are out there. This is something I'd never
(07:26):
seen before. And having the ability just to push buttons
and actually giving you again a clear estimate to get
you in the range is I think it's brilliant. So
I think anyone that is like me that is not
a fix and flip. I'm not a handy person. I
don't know them things. All I know is I can
sell and I know how to market for leads. This
is a tool that you can take with you and
(07:49):
actually gives you the confidence to say, yeah, I.
Speaker 1 (07:51):
Can run an appointment.
Speaker 4 (07:52):
And I just want to throw that out there. So
that's what I got from it.
Speaker 2 (07:55):
Love it, man. I'll tell you what. Don I feel
like I've arrived at this same point right now? I
literally have just just you know, it's it's almost embarrassing,
but you know, this is this is where we're at
right man. It's always about abundance and sharing. I have
a yellow pad on my desk right now with two
pages filled out with addresses because I'm read, I'm I
started from scrim I'm training acquisition guys at sales guys
(08:18):
right now in my market. And uh so I did
what we teach, right I sent out a vacant list
and I've already had over a five percent response rate
from that just one direct mail piece so far, and
it's blowing up. And so now I'm going on these
and I'm using rap and I'll give you a great
example of yesterday because Gavin, like you said, you know,
(08:38):
it gets you to that that what I call a
takedown number. Okay, we've gotta we got to get close,
and we got to trust it right. So you may
not run your entire job based on that scope of
work in that number, but it actually gets you to
where you need to be. And so here's a perfect example.
I'm with the guy yesterday. He comes up from Florida,
he gets my vacant letter, calls me and says, hey,
it's really good. I went out. The house is a
(09:00):
right house, man. I mean, you know how many turds
we see every day right like this. It was refreshing
to actually see something. It's like, oh my gosh, this
general contractor was doing amazing. It just it got ninety percent.
They're partners, so he's not making money until it's all done. Well,
nobody's been on the job for seven months, so they're exhausted.
But it's beautiful work. It just needs to be completed.
(09:22):
So he tells me right off the bat. When we
finally get in there and we've done the rapport, we've
walked through the house and I've got rip and he
says and I say, hey, man, let's get to business
where you know, this is what we're here for. It's
numbers time, you know, And he's he throws an anchor
out there of well, it needs thirteen thousand left in repairs.
(09:43):
I said, really, hey, I've got this national software that
we use. It's it's good in all markets. It's you know,
let me just run it through because it's it's great.
I even was toggling the numbers. I won't get deep
right now, but hey, fifty percent for this needed still.
I mean they did half the roof. I mean, honestly,
who does half to Oh yeah, like, I'm telling you
(10:03):
it was great work. It's just it's one contractor on
the wold house, right, So anyway, I get down and
just show them here's the numbers, like and in the
end it ended up being thirty eight thousand in repairs.
Left is a two thousand square foot house, four bedroom,
three bath. They converted from a duplex into a single. Okay,
so but in the end I was able to do it.
(10:25):
He wasn't able to dispute any of the numbers, any
of them, because he finally said, yeah, that's probably true. Yeah,
that's actually probably more accurate. Yeah, you're probably right, bam.
And it was undisputable to just have something in front
of you. How often do you leave the appointment and go, hey,
let me go work the numbers? And I'll get back
to you. But to be able to show something real
(10:45):
time changed it all. And I was just yesterday.
Speaker 1 (10:48):
So did you make him an offer?
Speaker 3 (10:49):
Oh?
Speaker 2 (10:50):
Absolutely, I never go to a house without making an offer.
So and you know we can get at a little uh,
a little deeper than this. But my offer, which I
think he's going to take number one. You know, he
dropped the anchor of one sixty. Okay, I showed him
right there out of rip. His cash offer was one
hundred and thirty one thousand, okay, But I said I
(11:11):
did get up to one hundred and fifty because I'm
making him carry the note through completion and he gets
paid on the back end. And all of a sudden
it changed the whole game because I told him I
would just make interest payments to him, so he'd be
getting paid now after this disaster for you know, how
however long they've held it.
Speaker 1 (11:27):
Did he partner Matt with somebody? Or did he hire a.
Speaker 2 (11:31):
Crew fifty fifty contractors?
Speaker 1 (11:34):
Split? So, so, guys, did you hear what just happened here?
So there was a joint venture and now there's another
joint venture. I love it right, right, creative as well.
Speaker 4 (11:45):
Right, and also as well, let's not forget because we
are coffee with closes. Everyone needs to look at that close. Right.
You went in with a low offer of the cash,
then you pivoted into terms to get the deal done well,
hopefully done right, which is huge Where that number wasn't
you were lower again when you price anchored down, and
(12:08):
then you came up on terms to hopefully get the
deal done. Because why you're solving the guy's problem. That's
what you're doing, that's your focus.
Speaker 1 (12:15):
Yeply good.
Speaker 2 (12:17):
He loved having that that ficked, you know, window two
of Look, I'm gonna get that. You've been sitting on
this for seven months, you know, yelling at the contractor
even though he's done amazing work man, his drywall and
title work is phenomenal, but he can't get it done.
He ain't coming back. He's making money, you know, he's
he's out, you know, doing other stuff. So sixty days
(12:39):
we're done now, even to one hundred and twenty for
full closure, you get paid.
Speaker 1 (12:43):
What's the current sittion? Not that this matters and it's
really not any of our business, but I'm just curious
how you guys were able to work around that current agreement,
So is he still splitting that his half.
Speaker 2 (12:56):
He's a he's a really good I'm glad you asked
that because I know the answer, because he's a The
guy was just a you know, solid guy as soon
as you meet him. He owns property northern Wisconsin, he
owns he lives in Florida. You know he's this is
you know, he's super tan, he's on a boat, he's
retired from the insurance business, and he's He specifically said
(13:16):
because I said, hey, man, I know you said there's
a lot of materials off site with the contractor. You know,
I can't make you promise you're going to bring them here,
But how are you going to how do we deal
with him? And he goes, oh, no problem. When this
closes out, I'm going to give more than my fair
share because he's done all of this work to date
that I will pay him for.
Speaker 1 (13:34):
Sons from that guy that the close. Yeah, yeah, you
may even want to go get something signed with him.
Speaker 4 (13:41):
Now.
Speaker 1 (13:42):
That just says that you're releasing your you know, interest,
assuming that he holds up his bargain or something along
those lines.
Speaker 2 (13:48):
Right, that's a good idea. That's a good idea.
Speaker 1 (13:50):
Yeah, man, very cool.
Speaker 4 (13:52):
I have another question, just on the close, what was
you what made you why didn't you get the contract?
Like was he thinking thinking about where's he at mentally
right now with this?
Speaker 2 (14:03):
Just because it was it was it was something that
I saw in his eyes and his face when I
when I just gave him a creative solution. It was
just that, you know, that look of confusion where they
just kind of go, huh, I've never never you know,
like he's he's never actually experienced anything like that. So
it really took some you know, he was really straining
to understand, like hmm, you know. So it was, hey,
(14:26):
we have a call scheduled today and I'll say, hey,
make sure hey, you got my cash offer, you got
my other offer. Let's talk about this back end because
I really feel like you want to move that direction.
You know.
Speaker 4 (14:37):
Awesome, and I think as well, just for everyone listening,
is very rarely you will ever close a creative deal
at the table first time round one conversation. So I
was leading to this because I was hoping that's what
you're going to say, and that's the point that will happen.
So you're literally teeing the call up for a return
because of that confusion. They need to take that on board.
(15:00):
Go this is genius. I'm ready to go and that's
all it needs. It just needs a little season in time.
And I'm sure you'll have a call today and get
it locked. K.
Speaker 1 (15:08):
That's awesome. Let's clear the question really quick, man, Smith, asks,
are comps similar to the MLS comps like Propstream?
Speaker 2 (15:17):
Okay? Uh, great question, man. I love I love the
fact that you know the comps are kind of getting
We never really paid attention to, you know, promoting that side.
But now you know, it's just a complete package to say,
you know, comps, repair costs, get to your offer, right?
What else is there?
Speaker 3 (15:32):
Man?
Speaker 2 (15:32):
You know ARV repair costs. Let's get an offer, right,
cash offer. So so we're buying data now. And I
compare just so you guys know, every day whenever I
do this, because I'm in the business, I don't. I
don't just you know, do software, right, So every day
I compare my own MLS, I compare prop Stream, I
(15:53):
get into you know, you pull it up on Zilla,
pull it up on County. Look what it says like.
I always do multiple facets, you know, to see And
so I'm not here to trash any system or the other.
But the data is really similar. It's just you know,
with prop stream, you know they have to pull it
at certain times, right, So it's not it's not literally
(16:14):
a live you know connection. They might not show that, Hey,
there's fifty properties here, but you know forty of them
are under contract already, right, But it's showing, you know,
when you get into souls. I love how prop stream
pulls are radius and gives you like one hundred properties
you know around that as well. So it's it's it's
very similar. We're also adding all of the mortgage data
and everything else now as well instead of just giving
(16:36):
you those numbers. So, but importance is you if you don't.
Speaker 1 (16:40):
Need your own due diligence regardless, Guys, no matter what
system you're using, I don't rely on my prop stream
ar vs, right, I don't rely on Zillow's estimates. I
don't rely on redfin estimates. But I want to see
all that information when I'm making my offers correct. None
of these points are going to be the one that
you can rely on blindly. You know that the more
(17:05):
data you have, the more educated that ARV is, guys,
an ARV is nothing more than an educated guess, right anyway,
I mean, let's be honest.
Speaker 3 (17:16):
Yeah, I've got I've gotten appraisals more than I can
get somebody to buy the property for, and I've gotten
appraisals for less than I can get somebody to buy
the property for. Even appraisals don't always come in for
where the buyer's at. That's just the reality. And at
the end of the day, it just matters what you
can sell it for, right, Right. So the other thing is,
you know, if you're doing pre work, right, if you're
doing pre work before the appointment, you're sitting down, you're
(17:38):
looking through your different sources and you're getting your ARV
in line, and you're estimating your you're guestimating your repairs,
and you're doing some Google street views and stuff like
that to understand the neighborhoods and stuff before you go.
That's that's one way to do it. This is a
tool if you're on the fly as well, that you
have that number. If you're out of an appointment, you haven't
had a chance to do pre work. Maybe this is
the last minute appointment. May be it's just maybe you're
(18:01):
like me and you shoot from the seat of your
pants and you want to be able to make a
quick assessment. This is a tool to utilize that and
be able to show the seller numbers right there. Hey,
you know this is this is where we're out on rehab.
This is what we think the value is. This is
this is what you know, what we should be behind
this property for. If that's the way you want to
use it for a close it makes a great tool
for that as well. So you know, look at it,
(18:23):
look at how you're running your business, and think about it.
I mean, this is this is again a great shortcut
to brain you know, all the brain damage of doing
a whole bunch of other work on something that you
may not get in contract.
Speaker 2 (18:32):
So one of the.
Speaker 1 (18:33):
Things I really like, guys, is that not only does
it help you estimate your repairs, but it helps you
get the offer sent. But then on the flip side,
it's assuming that they accept the offer. Now you don't
have to go back and create a scope of work.
The scope of work was done when you estimated the repairs,
so now you can spit that scope of workout. You
can use that scope of work when you send your
(18:55):
offer as an additional attachment. Here's how I'm coming up
with my offer. Here's the repairs. But then you can
also flip the script and say here's here's the scope
of work to my general contractor to go do those repairs.
So it's actually doing multiple things simultaneously, which you're right.
Speaker 2 (19:10):
I love it, man, David, You're always spot on. Man.
I just had a conversation this morning with one of
my guys I use it has spent over a year
since I've used him. His name is Hector, and he
I just just kind of reignited it because I've got,
you know, too many deals popping up, and so I'm like, hey, man,
you know where are you at? I need you? And
he said the eyes on board, but he's now dialed
(19:30):
it down to just one counting, which is fantastic. He's
figuring that out for himself, right. Well, I said, look,
how do you how do you want to approach this?
And he immediately referred back to Hey, you're the only
guy that I trust where you actually used to hand
me IRP scope of work with prices. Guys, I'm not
trying to make money on my flip like that. I'm
not trying to make money run into home depot to
(19:51):
buy tile so I can save you know, one hundred dollars. Okay,
I let you the contractor value engineer it. I've been
a licensed contractor general contractor for over twenty five years.
All right, I have authority on this, on this side
of things. If that's all I know, Gavin, all right,
I've got got something right. But that's the beauty of
(20:12):
it is just here's your scope of work, and here's
the numbers for every itemized piece. Okay, please make that work.
It always works for they make it happen.
Speaker 1 (20:22):
So that's great. That is awesome. Yeah, great piece of software.
You guys have calculators in there as well to to
basically use the m AO formula essentially. Right, right, So.
Speaker 2 (20:38):
Here's here's the uh. Here's here's the thing that this
is kind of the the uh. The first we're going
to talk about this here is on this show, we've
got this new wizard that we developed and it's again
it's not supposed to be, you know, adding on all
these extra pieces. This is actually in the formula building,
which is already there, but you can literally go in
(20:58):
now and it's it's I've released to a bunch of
heavy users. But now we're gonna we're ready to go
public with this in the next couple of weeks where
it's it's our Wizard formula builder where you go in
and you pick right on the front end. Hey, look,
am I wholesaling this property? Is this going to be
a subject to is this?
Speaker 5 (21:14):
Uh?
Speaker 2 (21:15):
You know pre foreclosure?
Speaker 3 (21:16):
Is it?
Speaker 2 (21:16):
You know you're picking, You're picking, you know what this is,
and also your exit strategy on the back end, and
so you can start building. Hey look, sometimes if I'm
gonna go this is a wholesale rental. Okay, so you're
still gonna have repair costs in there, but you're also
gonna have cash on cash return that's getting calculated and
your wholesale fee and then it spits out that final number.
Speaker 1 (21:37):
So which is awesome because you can then use that
to market the property to correct, which is awesome. I
love it. I love Two Birds one Stone. Yep, I
love these anything you do, birds anything too.
Speaker 5 (21:48):
Yeah, I'm gonna get a shirt with that Two Birds,
one Stone.
Speaker 3 (21:59):
We're gonna wear that next time we're together.
Speaker 1 (22:00):
Anywhere I'm in, I'll order me a couple.
Speaker 2 (22:05):
It could be to loom, you know that.
Speaker 1 (22:09):
I love it. I love it. So don you are
using this daily right with your team? Do you have
your team members because you're the fix and Flip guy
on the show, We I do a couple. I know
Gavin's got a couple as well going at any given time.
But your main core business is fix and flip. So
(22:30):
do you are you having your team members go out
and do this, you know, run the rehab estimation when
you're running your appointments or you know, so and so forth.
How are you essentially using it? I'm just curious.
Speaker 3 (22:44):
Anybody that is being trained into my organization new is
being trained on rehab estimated Pro. So that's that's how
we're doing it. We we're you know, we've been doing
this for a lot of years. And so like my
my project manager, just just for the sake of the
fact that we stood in home Deep but we know
every single go home Deeople layout in our county, which
is insane because there's multiple but I can go to it.
(23:06):
He's like he's like a rehab Estimator pro machine. Like
I can walk up to him and go how much
is it for us to install sliding last or how
much is it for us to do flooring this level,
this level, this level, right, so he can pop those
numbers off his head, out of his head. And that's,
like I said, the brain damage of just you know,
learning it and doing it and getting ripped off and
and everything else. So but for the sake of our
(23:29):
you know, our being, us being dialed in on our
offers and getting our offers right right out of the gate,
for the sake of us not having to beat numbers
into our team and being as accurate as we can.
Everybody coming into my organization new is being trained on
rehab Estimator Pro because it's it's it's a tool that,
like I said, it just it cuts the education time
down to almost nothing. It's a it's a it's a
(23:51):
point and click solution, and ultimately, at the end of
the day, it's gonna get us more dialed into where
we really need to be. One of the things that
I live by and just we have some systems in
our business and this is this is why this this
helps the systems in our business. Like I don't trust
anybody who makes money off me closing on a deal.
That is, yeah, as a wholesaler or real estate agent
(24:14):
or my acquisitions person. Right, anybody who makes money off
me closing on a deal. I do not trust one
and so and just to kind of give like, we
have a system in place that our our our project
manager has to check every every property we're going to
close the flip before we close. Because we had a
situation one time where acquisitions manager walked through a property
(24:35):
and we he'd been with me for a number of years.
This is pre rehabittionmtor pro and I was like, uh,
he said, it's gonna be thirty grand. A lou doesn't
have to check the property. It's going to be thirty grand.
He missed the hva C that was on his last leg.
This house had plexiglass windows. Who puts plus the last
windows in a house? Right, So it's a d D
(24:56):
Y right.
Speaker 4 (24:58):
So that's a new reab totally.
Speaker 3 (25:05):
Exactly. It ended up being a sixty five thousand dollars
rehab on this property and we we actually still made
money on I believe it or not, but that not much.
But at the end of the day, I put that
system in place and from this point on the product
Maaguer has to see the property before we close it period.
Hands down, it doesn't see it. We don't close and so,
but ultimately having a tool like we have Estimator Pro
(25:27):
where it would have went through and you had all
these things to check, right, you're checking or you're walking
through and checking all these things off and checking the box.
He would have looked at the windows. He probably didn't
even look at the windows. He would have looked at
the HVAC. He probably didn't look at the HVAC. He
made He went through and made assumptions based on certain
things that the property and didn't look at others. And
so having you know this to be able to check
off and spit numbers out gives us will give them
(25:49):
a more accurate tool to not only hold them accountable
to make sure they're looking at everything and checking things off,
but then it spits out appropriate numbers that they can
actually realistically negotiate off of that we and then know
we're a little more secure in moving forward on this property,
if that makes sense.
Speaker 2 (26:05):
So absolutely so, you know what don I did add
just for that reason too. So in the in the
upper left hand corner above, when you when you're when
you're logged on and you have your properties in front
of you, it's it says to you know, hey, print
my checklist, so and it's exact screens that you see
on rehib estimator pro. So, say you just load up
your your people or you want to train them to
(26:26):
go out, you can just print off a bunch of those,
even if you're not bringing rap on a tablet live
in the field, and so you can basically have somebody
you know quit, you get a call, they run out
the door. You know, got to see this property. Now
it's a pocket listing from a realtor. They're going to
list it tonight. You can go see it first, you know,
you run out there. It's the exact screens you're going
to see. So you basically just check the box, put
(26:47):
a number in where you have to like windows, you know,
and then bring it back to your team and then
they can just go right down the line and go, okay,
check check, check check, you know, fifteen windows, check check, check. Done.
There's your estimate. And that checklist, like you said, forces
them to look at every component in the house quickly.
You know, we don't have it's one screen per checklist.
(27:07):
It's not four thousand line items. You're not trying to
figure out. I wonder how many linear feet of crown molding.
Speaker 1 (27:13):
We're gonna yeah, that's that's the ten percent contingency that
covers all. Yeah. Absolutely. But one thing I really like though,
is by having that checklist, it forces whoever that person
may be, right, could be the bookkeeper, could be your
acquisitions guy, it could be you that's walking through the
property to at a minimum check the no box on
(27:34):
a lot of these items that could essentially get overlooked. Right,
you either need to fix it or you don't. Yes, no,
And then if there's a yes, you need to then
put in how many square feed or whatever it may
be to determine what that cost is going to be.
But if somebody goes in and they check the box
no for an HVAC and then you buy the property,
it needs it. Hey, there's some additional training that we
(27:55):
got to cover here, guys, like what did you not
notice about this HVAC being thirty five years old? Yep,
you know. But again, it forces them to look at
those line items when they're in the process of determining
those repairs.
Speaker 2 (28:07):
I like that, yeah, yeah, And it's also man, I
love the social proof of it. When you're in a house,
like I carry my iPad with an apple pen, And
I am telling you, if you can get them on
board where they're looking at, what are you doing it?
Because I'll ask, you know, you can be that guy
that walks in as the investor and say, hey, you know,
have there been others before me? It's it's no problem
(28:28):
if you tell me. But are these clowns bringing in
yellow pads you know and writing stuff down? You know?
Like I said, we use we use software in our
business and so that's how we come up with real
numbers instead of just pulling it out of the air.
And so as I go through, I start checking it
with the pen and they get so interested. I just
hand it to them and say here, you know, could
(28:49):
you could you hold this for me and just check
those boxes as we go through, and I'll just kind
of I got my flashlight, you know, I'm gonna you know, and.
Speaker 1 (28:54):
They go and they click those boxes and every time
they click a box, the price goes up, it up,
but they don't know that. But the process is such
a great way to build rapport, increase the trust that
you may or may not have with that person. Hopefully
you do after the fact. Right, It's just bringing them
(29:16):
in is just such a great way to, you know,
get them to really say, Okay, the repairs are showing
thirty grand on here, that's really what they are, versus
them trying to say, oh, you know, I know a guy,
we could probably do it for ten. And when people
tell that to me all the time, I say, cool,
you go do all these repairs and if you can
pay the guy ten, great, I'll pay you this for
(29:38):
it now. But without those repairs, I'm paying you this.
And I think, out of about you know, two or
three hundred times I've told that to people. Never has
that happened where they go get those repairs done at
their cost and then I buy the property at that
elevated price without the repairs needed. It never happens, Right.
Speaker 3 (29:57):
That's great, that's a great line though. That's a great
but you don't do that, and then my price will
be here. Yeah.
Speaker 1 (30:02):
Yeah, So I'm not gonna have to spend thirty. I'll
give you thirty thousand more from what I'm offering, and
if you can do it for ten, great, But what
ends up happening is they either spend thirty or they
spend ten and it's a third of the way done,
and then you can come in you get an even
better deal. Well, you have to ask the work on this.
I had to redo it all price is the same. Yeah,
(30:25):
thanks for the eight gram with the work you know,
so love it. Love it man, that is really really awesome. Guys,
if you are watching and listen in and you have
questions for Matt, ask those questions. We encourage the audience interaction.
We use this to connect with each other, learn about
new products and services, industries, industry practices, tips and tricks,
(30:50):
you name it. But we also want to include you,
the listener, the viewer. So if you have questions for Matt,
now is the time to ask those Matt. I know
that with any software company you got, you know, the
owners of these individual companies are constantly adding you know,
features and adding things along the way. What are some
(31:11):
of the things that you guys have introduced, you know recently?
Speaker 2 (31:14):
So, like the first is that that wizard we've been
working on for about six months and you guys know
Steve Carlson too down in Texas and we've been working
with him because he does so much on the sub
to side with notes and and everything else. We've been
working with him. So uh. Again, without wanting to get
you know, too many things that just confuse people. You know,
(31:37):
this is something. The next thing I really want to
add is a very simple uh presentation uh for lenders,
because I think that piece is is simplistic enough because
it's just pushing a button so that you can have
a complete product that you're going to send for private money.
So since since I'm using private money on every deal
you know that I close, I I have to go
(32:00):
through to a to a separate you know, area to
to basically pull and put that. You know, it's template based,
but it just needs numbers and you know, pictures on it.
So so number one, I want a piece that's easy
to just say, hey, here's here's a click of a button.
You can you know, send this to your private money
lender for review. This is what you're looking to borrow.
They begin to trust R e P because they want
(32:22):
to They want to know that you know what you're
doing right, like your your numbers are correct. So and
number two, I'm looking to add pictures in a third
party application because there's no place to really you know,
I want to be able to have people go back
and just click a link that will be able to
show you pictures of the property, so that you know,
if you're more say you've got ten twelve acquisition guys,
(32:43):
or say it's you, you know, you still want to
be able to have this where you can go back,
you know, and look because you know how it works.
Follow Up is key, right, Like that's where your deals
are coming from most of the time. So you know,
we're going back to deals a lot of times that
you know they may call back exhausted, they're finally a
motivated seller, and that's you know. So those are some
fun features that I'm trying to add without complicating the
(33:04):
system too much.
Speaker 1 (33:05):
I love that you said without complicating the system too much.
That is an issue I feel like with a lot
of softwares these days is you know, they start out
with a simple idea and four or five six years
later it does a lot of stuff. But you got
you gotta sit down for hours and hours and hours
to learn how to use all these things. I keep
(33:28):
circling back to less is more, man Less is always more. Yep,
it just is. So I really like that. Matt's got
a question here, Matt Smith, does it dial in even
as deep as removing shake shingles or three layers or
say needing sheeting replaced. I'm assuming he's referring to roofing here, right,
(33:51):
Oh yeah.
Speaker 2 (33:52):
Yes, David, Yes, he is love it.
Speaker 3 (33:54):
I don't.
Speaker 2 (33:55):
I don't do that type of I love it. Man,
it's a.
Speaker 4 (33:59):
Lot.
Speaker 3 (34:00):
What the heck is a shake?
Speaker 2 (34:02):
You know? So it's a it's a it's a great question.
And uh uh So here, here's the premise. You're going
to see three areas that you're going to be responsible
for being in. If you're a newbie or if you're
a you know, acquisition guy that's getting trained, sales guy
that Don's training. I want you to stay in the
(34:22):
three areas that you are forced to look at as
you drive up to the property. Here's your exterior, there's
your interior, and here's your miscellaneous and others, which gets
into the mechanicals and certain things. So I want you
to stay in your lane there. Now on the back end,
for a guy like Matt Smith, here there's an other
section which has hundreds of itemizations in it that are
(34:44):
for the experienced investor contractor. Guys like Don was referring
to that. This guy can be in home depot and say, hey,
you know how much is it to install this sladding
door right and there that's when you're going to get
into issues like removing shake or putting sheeting on it.
But these are also areas the only place that it's
needed where you're going to have to put, you know,
(35:07):
dimensions in If in the first three sections I don't
want you bring in a tape measure, you do not
bring a tape measure. You bring a flashlight and sometimes
if you want to bring an electrical tester you know
for outlets. Okay, But in the back section you're going
to need to put in, Hey, I need this many
square feet of decking replaced on this roof, you know,
to resheet it. Or I have multiple layers of shingles
(35:30):
and you add that, or I have you know, sixty
linear feet of soft and facia versus just clicking the
whole house right. That's where Plus I have all new
construction pricing built in on the back end as well.
So that's all there. I just don't like to talk
about it as much unless there's questions like this that
come up.
Speaker 1 (35:47):
No, that's a great question, guys. So it starts out
with the basics, right, and then if you want to
go in and you want to detail specific things you can't.
I love it. That's a great question, Casey says Matt.
I love you, bro. I don't know if you know
him or not.
Speaker 2 (36:02):
Oh yeah, I do.
Speaker 1 (36:04):
Awesome. Matt's got another question. Is it easy to export
the rehab comps and offers into say a folder on
your computer?
Speaker 2 (36:12):
So yes, right now it's everything gets sent out PDF. Okay,
so it's it's going to send out you know the
now that that we just added, being able to add
the comps to that that you used, because it's not
a tool, you know, actively where you go, you can
like go back and look at the comps because it
pulls them live. Okay, we're every time you click that button,
(36:33):
we're purchasing that data for you. Okay, So yes, you
send it into a folder. Also, we can actually send
it right into your CRM. So like right now, there's
a button on it that says push to Podio and
you can literally just push it and then it'll go
right into your Podio system. So and and we can
if there's other you know, CRMs you're using, then we can.
(36:54):
If we don't already have it on the list, we
can develop that as well and be able to push
it there.
Speaker 1 (36:58):
Yeah, there's only a couple of things that I would
think you would ever need to export. One would be
the contract or the offer right and you guys are
you guys doing it has the ability to make an
offer right.
Speaker 2 (37:07):
Correct full cash.
Speaker 1 (37:09):
So the next would be the the actual repairs in
the price in the list, A to give to the
seller if they question your offer or you want to
justify it, or B to give to your contractor, which
would be the scope of work right. So I mean,
other than those two things, there's really probably not a
ton of reasons that you'd want to export. Maybe comps
(37:29):
as well, you know, if you want to also again
justify why your offer is what your offer is. But
a lot of that stuff is just kind of built in,
which is really really cool. Yep, yep. So that agrees,
that is really really cool way to go.
Speaker 2 (37:45):
Matt also love it. I'll just I'll throw another thing
up to like, so for Donal guy who you know, like, hey,
this stuff takes literally sets to go in. Stay dishagrees
with xterior door for five hundred bucks that you know
is gonna be a single door gets installed and you
say no, actually, you know it's six twenty five right
(38:08):
now or whatever it's it's takes seconds to go and
put your own values in as well, so that you know,
say you have a guy that you know consistently has
been a rock star for you, and can adjust those
up or down in any way. So super easy to
change your values if you need to.
Speaker 1 (38:24):
So do you recommend people going out on site with
a tablet? Typically? Yeah, that's probably the easiest way to
use it, right.
Speaker 2 (38:32):
Right, And I'll give you another. Uh, I'll give you
a big one today, because nobody does this, man, nobody
does this. I have a thermal image printer that fits
in my pocket, okay, and it's bluetooth. So I literally,
while I'm sitting or coming down the stairs or whatever,
I'm printing out the contracts with three different offer prices
(38:53):
on their kitchen table. Okay, who does that? Right?
Speaker 4 (38:57):
Yeah?
Speaker 1 (38:57):
I might need to get that link. Man, I'm gonna
have to get me one of these and throw it
in my trunk just to have it with me.
Speaker 3 (39:03):
Man.
Speaker 2 (39:03):
I think it's amazing, great idea. You can print the
tax records out, you can print you know, something from
your your title company, you know whatever. Just right there.
It's a it's a thermal image printer, so you don't
need ink. It's a great tool. Man. Nobody else on
the street is doing that. So if you start doing that, man,
you're the only one. You've got a leg up on everybody.
Speaker 3 (39:25):
Yeah, you have to send this link to that man
yet even appointments.
Speaker 4 (39:32):
But.
Speaker 1 (39:35):
Print some fake darking tickets and put on your buddy's shield.
I love it, man, that's awesome. That is that is
that will definitely give you a leg up in the
game by having the ability to walk the property with
the seller, create that real time list of repairs with costs,
print it out right. If they want to go through comps,
(39:57):
you can print those comps out. If you want to
also go find you know, comps from Zillow or redfin
or propstream cool or your local mls, print them out.
Speaker 2 (40:06):
Love it.
Speaker 1 (40:07):
Have that all right there, then print that offer out
or have your offerer that's I carry around a bunch
of blank contracts, right, so that's another option. Or you
can just print it right there, fill it out, but
basically justify to the seller that your offer is fair.
And that's really the difference I think between There's a
lot of things that you know are going to differentiate
(40:28):
the newbies versus the guys that have experience. But one
of the main things that I've found from the people
that have experienced is they know their offers low and
they're not trying to sell the seller on the fact
that it's not low. In fact, they embrace that it's low.
But what they do differently is they justify it as
being fair.
Speaker 2 (40:49):
Right.
Speaker 1 (40:49):
It can be fair and low, right, and the way
to justify it being fair is to use those things
that you use, those comps, use those repair estimates, and
also so change the framing in your own mindset of
this isn't me versus the seller, This is me and
the cellar market.
Speaker 2 (41:07):
Right.
Speaker 1 (41:08):
The market is what the market is. You can't really,
you know, say that you know ARVs in this neighborhood
are six fifty if there's five cops showing three fifty, right,
I mean, it just is what it is, you know.
So awesome, Matt, that is awesome, very very cool, Court says,
great show. Thanks for what y'all are doing for the
real estate investing community. Court, thanks for watching, man. We
(41:30):
appreciate you. We love doing this live show. Join us
every single week Wednesday mornings eleventh Central, twelve Eastern is
it nine.
Speaker 3 (41:40):
Specific nine Pacific? Yeah, and one more shout out Dave
that we didn't mention at the beginning of the show.
When you start mentioning, is this is being released as
a podcast as well. You can find it where you
find your podcast.
Speaker 1 (41:52):
Oh, that's right. Yeah, and the team just got the
podcast going as of I think yesterday at the day
of four. So yeah, if you miss one of these
live shows and you guys are driving, yeah, definitely check
out the podcast. It should be on any and all platforms.
If not today, it will be in the next day
or two.
Speaker 2 (42:09):
I love it, man, I look forward every week there's
a there's a banner that drops on my phone coffee
with closing.
Speaker 1 (42:17):
You know, we we have a lot of fun doing
this live show every week. It's growing, which is really
really cool, and you know, we get a lot of
really really good feedback. So Matt, we're really happy to
have you on the show.
Speaker 4 (42:28):
Man.
Speaker 1 (42:28):
We're super grateful for your time and all the energy
and efforts that you've put into this such this such
an amazing you know software, which is which is really cool.
Speaker 4 (42:39):
I just want to say one thing as well about
Matt you know, Matt's obviously, as we said, he's a
cool guy, but he does a lot of things outside.
I'd like you to talk about it, Matt a little bit,
if we don't mind some of the adventures, the things
that you do and you.
Speaker 1 (42:51):
Just text me a.
Speaker 4 (42:55):
Yeah, So just talk about that a little bit. You
do some things. I don't know how you have a
this time, but it's amazing some of the things that
you do is is incredible. So just tell us, like
the trip that you've just been on, the latest one
and kind of the thing that you're doing outside inn
in other countries.
Speaker 2 (43:12):
No problem, man, Yeah, that's uh, that's that's Those are
my reasons. Man. I part of part of the proceeds,
you know, for subscription goes right towards these projects. Every
every every you know dollar out of every prescription, so subscription,
so I I I build all over the world. It's
it's missional. We build schools, we build houses, we build churches,
(43:35):
community centers. This this is uh. During this last year,
it's been crazy because I've I've just I've called everybody
my road pirates because everybody's shut down their trips. But
we just kept going. Man. But so I do Go I.
This will be my seventh trip this year.
Speaker 3 (43:52):
Man.
Speaker 2 (43:53):
Next it's in three weeks. Man, this is my hardest trip.
This is into the bush in Tanzania. We are literally
intense hyenas barking at nights. I mean it is. This
is an unreached people group that we're building a school
for out there, and so that's gonna be that's gonna
be great. We just got back from Honduras. We we
(44:14):
had a big build up in the mountains, six thousand
feet up that was just amazing. There were sixty nationals
that showed up to help us as well. So it's
just man, it's powerful. It's life changing. Not only is
it life changing for communities that we're touching, but what
I've found is that it is more impactful for the
people that I bring and assemble. That's those are the
(44:36):
lives that are seriously impacted, and they bring that back,
they bring that energy, they bring all that you know, uh,
you know how their life has changed. And and David,
even on our trip, you know, same same kind of thing.
You get people outside of the US and in a
setting where they're relaxed and vulnerable and focused on one thing.
Powerful things happen. So that is a that's a big
reason a part of you know, what I do. I'm
(44:57):
gone twelve weeks out of the year as a as
a you know, combined total. But I love it and
don't plan on stopping anytime soon.
Speaker 1 (45:04):
And that's awesome. Man text me this morning about a
trip that he's going to be hosting in January to Honduras,
and I'm in Matt, I told you in Costa Rico,
I wanted to start doing stuff like this, you know,
use this opportunity to to help people, but also to
grow internally, you know, And there is a small selfish
(45:26):
aspect in there too, is I get to spend time
with Matt, you know, it's like why why that that
alone is gonna be cool, you know, But there's also
a lot of other people that I'm gonna get to
meet on these trips and build some really really cool, lasting,
meaningful relationships.
Speaker 2 (45:41):
And it is, uh, it is, It's exactly that.
Speaker 4 (45:43):
Man.
Speaker 2 (45:43):
We're gonna work hard, trust me, it's going to be exhaustion.
You know, at the end of the day, we're laying block,
we're mixing concrete. But guess what, you know, yes, those
relationships as well as we're also going to be cliff
jumping in Roatan. Okay, Like we've got to add those
pieces to it too, you know, to to reward that
hard work. So it's all over man.
Speaker 1 (46:03):
Yeah, I'm excited. Man, that's going to be really really cool. Guys.
We got about ten more minutes of the live show here.
If you have specific Cannat talk today, if you have
specific questions for Matt about rehab Estimator Pro, now is
the time to ask those questions. And this software is phenomenal. Guys.
(46:24):
Take it with you. You can use your phone, you
can use a tablet, you can do it from your computer.
You could do that in the car, at the kitchen, table,
in your office, doesn't matter. It essentially is going to
take the guesswork out of estimating repairs. It is going
to dial in your repairs. It is going to allow
you to use anybody on your team, including your bookkeeper,
(46:47):
to send out and basically determine the cost of repairs
for a particular property. On top of that, it's going
to help you run your comps. It's going to help
you send your offers. It's going to help you justify,
which you talked about earlier. And last, but not least,
it's going to give you a scope of work which
nobody uses. Everybody should use them. But let's be honest,
(47:11):
it's time consuming and typically what happens is you hire
your contractor to tell you what that scope of work is.
But it's better, much better. Don would be the one
to second this as well as Matt here, but it's
much better to have a plan and go in with
that scope and then if your contractors sees something that
you missed, great, have a conversation about it.
Speaker 4 (47:32):
Gives you the confidence to close as well to make
your offer to get a signature.
Speaker 3 (47:40):
So yeah, I want I want to add too. I
mean I don't think that you're charging en f Matt. Honestly,
when you think about the fact that you have an
opportunity to use to utilize a toolet to negotiate better,
to get better deals. How much more money you going
to make there? That you are going to have less
room for error because your your rehab scope of work
and budget's going to be more on points. So you're
going to you're gonna make money there. You're going to
(48:02):
spend less time training your team, less brain damage, less
time on yourself. You know, figuring things out because the
numbers are there. When you take all that math, you
put it together and you look at what you're charging
for this product, you're practically giving it away, right. That's
something the people need to realize, so you really should
be charging more. I'm just gonna plug that in there.
Speaker 2 (48:19):
You know what, man, I've I appreciate that. I've heard
that a lot, and uh, you know, really I want
this to be to me. This is such a fundamental
you know, as far as even you know, starting out
in your business and you know, being able to get
this right. And I want it to be like a
gym membership, to be honest, where you know, you look
(48:40):
at this and go, well, shoot, man, if I can't
even afford this, then I might as well just get
out of the game. That's how I feel about, dude.
My Planet Fitness. I haven't been there in like six weeks,
but I'm not canceling because I feel like I've quit,
you know, by on my whole I'm myself, you know
what I mean. And that's that's what I want it
to be. I want people to be able to get
in this game, do it right. And you know what,
(49:01):
you don't need this massive you know CRM system when
you're starting out and you've only got a yellow pad
with you know, four properties on it, right, But you
do need basic tools to get into this business, and
I want this to be a basic tool. And it's
again it's something I use every day in my business.
I developed it for myself in my short sale business.
So that's I developed it for me because I use
(49:23):
it every day, and I'm just giving it to the
rest of the world as well and saying, hey, I
want you to use this too. I want you to
be successful at it, so appreciate it.
Speaker 1 (49:31):
Man. We got a couple questions here to wrap us
up here. So it looks like, let me see here,
looks like Casey was firing, I said, Casey here, Okay. Cool.
So Casey says, can you track projects, progress, updates, photos,
et cetera in the software?
Speaker 2 (49:46):
Okay, So that's something we talked about a little bit
earlier with you know, project management things like that photos.
We are adding. So so yes, that you know, we are,
we're bringing that, you know live, that's that's in the
hopper for you know, when you're in when you're in
software business, there's always those vision boards, right that's right,
and then every suggestion that comes along the way as well.
(50:07):
So right now, casey, I don't, I really am hesitating
to make this like a full project management tool. There
are other great systems out there for that, and they
do a really good job. Uh, and there's several of them.
There's I actually use co construct in my business, which
builder trend owns. It's a it's parent company. But that
(50:30):
gets into a whole different level. I'm really debating on
that because I want this tool to be something that
you look at that isn't just about rehabs or just
about you know. I want you to say, look, you're
getting comps and you're getting repair costs that nobody else
provides that you can trust, which is getting you to
a cash offer or whatever offer sub to you know seller,
(50:52):
you know seller carry seller finance, it's giving you all
of that, So that this is a tool that says
I've got everything I need to be able to get
my feet in this business. And also it's a tool
that seasoned guys all over the country like you guys
are using as well and trust it. So I just
I don't want to get too far off.
Speaker 1 (51:10):
No, I love it. Keep everybody.
Speaker 3 (51:11):
Yeah, everybody manages the rehabs differently too. When you try
to get into you know, rehab management software. I've I've
went down that rabbit hole with a few people in conversations,
and everybody does their business so much differently from each
other that it becomes, you know, it's it's hard to
build something that's gonna fit right right.
Speaker 2 (51:26):
Yeah, you can't. You can't introduce a gamp chart, you know,
like like builders use, you know, for for flow on
a calendar of of who's going to be there when
and who's next every single day. Not in our business.
Speaker 1 (51:40):
So you can. You can try, but it's not gonna
work out like you can anticipate. I love it, Matt says, Uh,
the offer calculator sounds amazing. Court's got a question. Is
there any way to use the software to send it
to other buyers if I don't want to do the
flip myself?
Speaker 2 (51:59):
Uh to say yes, so if you're wanting other people
to run it, yes, you can actually set up there's
a there's a tab in there for you to add
virtual assistance if that's what you're I hope perfect answer.
Speaker 1 (52:09):
For Another thing that you can do is you can
print your comps. You can print your repair estimates, and
you can you know, print the offer or just say,
you know, I'm looking to wholesale it. Here's what I'm
looking to get for it. You don't even necessarily need
the offer. So there are tools in here that you
can essentially utilize, or like Matt said, you can add
people into it, you know, directly. Great question. Yep, it
(52:31):
looks like we maybe have one or two more here.
So Scott says, I'm a reno manager for tech based
investor SFR three. I use a system like this every day.
Sounds like a great system, Matt. Thousands of line items
and a scope of work to come up with a budget.
And that's it. That's exactly what this is doing for
you guys.
Speaker 3 (52:49):
You know I want to I want to add something
for rehabs. We're at tail end of this, so we
get this in here. The most important change in my
business when I made my contractors do line item bids.
They don't do just a whole thirty thousand dollars for
the for the job. You buy the materials thirty times
with the job materials included. Because that leads even honest people,
it leads to a destruction and relationship because they say
I didn't have this in the bid and you say
(53:10):
we talked about it. It becomes a fight. Right line item
bids save all of that, and this is a great
tool for helping get that contractor there because it's a
lot of work to do line in a bid. A
lot of contractors don't want to do it. When you
can handle someone like this and you can say break
this out into line item how many lights, how many
door knobs, how many doors, and you have that there.
That really is a long way to you understanding what's
(53:31):
going into the project, them understanding what's going in the project,
and saving the relationship. It it comes back and says there's
twelve lights on like count of ten, and you see
there's only ten on the bid. It's an easy conversation
to say yes. If it's not there and you're distrusting,
like I have learned to be through the years, then
you're questioning their integrity and that creates animosity relationships. So
(53:51):
this tool is just for that aspect of a tool
that helps your contractor do a little less work in
their bidding process and being able to get you something
that's a little bit more clear. And you know to
the point it goes a long way as well.
Speaker 2 (54:04):
Right let me let me add that too, because that's
that's great your I'll speak aus of a general contractor
right now. Okay, man, if you don't care about your product,
I don't care about your product. If you don't you know,
if somebody's not showing up, I ain't shown up. You
know what I mean. We're responding whoever's yelling out us
right now. But that becomes personal relationship, just like your
(54:27):
private money lenders is a personal relationship, right Like these
are these these are relationships you form even with your contractors,
so that when you come into a house and you've
developed this relationship and they get to see what I
call a general industry standard. Okay, I don't have to
come in and say, whoa bro, what about that scratch
and the hardwood floors? Well, that wasn't in your your
(54:47):
scope of work. No no, no no, Like we're we're
getting away of the You would never if this was
your own house or your own flip leave that scratch
in the floor. So there are certain things that just
become relationship based that they get to know what you expect,
the level of flip that you're going to produce and
they begin to own it like you do. And that's
that's that's all built, you know, personal relationship, cause you're
(55:09):
never going to cover everything and who nobody wants to
have that fight you know about ten or twelve lights
because you know you're supposed to replace those last two lights.
You know, it's that's that's what it is.
Speaker 1 (55:22):
Yeah.
Speaker 3 (55:22):
I love that. If you don't care, they don't care. Right,
if you don't show up, they don't show up. Everybody's like, well,
why should I check my project once a week? Well
my contract is not showing up. But why should I
check my project once a week? Well, if you don't
show up, they're not going to show up. If you
don't care, they don't care. That is fantastic. I love
the way you put that.
Speaker 1 (55:38):
That.
Speaker 3 (55:39):
Anybody who reads the vehabs that needs to hear that.
Speaker 1 (55:42):
Yeah, that's a massive gold nugget.
Speaker 3 (55:43):
It's a massive gold nugget. You set the standard. What
is what is valuable to you is going to be
valuable to your team, and your team includes the vendors
that work with you.
Speaker 1 (55:52):
Yep, yep, I love it.
Speaker 2 (55:54):
Guys.
Speaker 1 (55:54):
Check out rehab Estimator Pro. You can actually save sixty
percent use link flip talk dot com, forward slash Estimate. Matt,
thank you so much for your time today. As pleasure. Yeah,
as always, man, it's a massive pleasure to get to
network with you and talk with you.
Speaker 5 (56:12):
Uh.
Speaker 1 (56:12):
You are the real deal when it comes to you know,
estimating repairs. The software you guys have built is helping
tons and tons of people. It's simplifying systems and processes
in people's businesses. And lastly, but not least, the mission
work that you are doing is incredible and I can't
wait to come be a part of that.
Speaker 2 (56:31):
It's gonna be great, man. Love it. Thank you guys
so much, Love you guys.
Speaker 4 (56:35):
All right, thanks guys, all right,
Happy Wednesday. Yo, yo, I'm loving this. Matt is joining
us today, guys, if you are not already in the loop,
Matt is a personal friend of mine. I know he
is also friends with Don and Gavin here. I was
actually just with Matt and Costa Rica last week and man,
(00:28):
we had a great time, awesome time. Matt. I want
to thank you for coming on our live show today.
We do encourage the audience to interact with this show,
and if they have questions along the way, we encourage
them to ask those questions. So from time to time
you may see some bubbles pop up at the bottom
of the screen with questions from the audience and Matt.
(00:52):
We really want to learn more about rehab Estimator Pro
today and this is a software that Matt's working on
for years that will take the guesswork out of estimating
repair costs. Such a cool product. Matt, how are you, man.
Speaker 2 (01:12):
Good man? Getting uh, getting my legs back under me here.
It's after spending a couple of weeks in Central America.
It's always a radical adjustment to come back to the States, right,
that's right, especially with that infinity pool overlooking the Pacific.
Speaker 1 (01:27):
Yes, that was awesome. I was trying to get down
and Gavin to come last minute because it turned from uh,
you know, a mission style trip where we were sleeping
in like tents to you know, a vacation style trip
where we were sleeping in this big mansion and it
was awesome. But all in all, great trip. Definitely, it's
been a week, Matt. We've been back a week as
the last night, and man, time flies, so it does. Man,
(01:52):
it's crazy how fast it flies. But but again, yeah,
good to.
Speaker 2 (01:57):
See you, Gavin. Don Man, it's been it's been too long.
Speaker 3 (02:01):
Yeah, Toulom was the last time I saw you, buddy.
Speaker 2 (02:04):
That's terrible. Man. Hey, the text are still going back
and forth. So keep in contact anyway we can, right, yep,
for sure, Sure, that's right.
Speaker 1 (02:13):
This is a great opportunity to connect as well. Guys. So, Matt,
what is rehab Estimator Pro? How long have you been
working on it? Why should somebody have interest in it?
Speaker 2 (02:24):
Good question, man, I appreciate it. I've I've been with
all you guys individually, even on this, so it's it's uh,
you guys always have great questions and and you guys
have all been in the business long enough to realize
the relevance you know what this is, but it is
UH software have been working on for about four years. Uh,
super exciting. It's we we keep it simple, man. We
(02:45):
we don't try to add every little, you know thing
along the way to to make this some kind of
you know, massive project management tool with CRM, you know,
we we want to keep the basics of actually being
able to estimate repair costs without being a general contractor.
The premise in developing this was to be able to
basically send anyone out of your office to an appointment
(03:09):
and or or even online through Zoom, you know, through
the pandemic last year, to be able to estimate repairs
quickly and accurately with just the click of a button.
Speaker 1 (03:19):
Awesome. So you don't have to have years and years
of experience estimating repairs or have have previously been a
contractor a general contractor. So what you're saying is, essentially
we could send the bookkeeper.
Speaker 2 (03:34):
That is man, you nail that that's uh you remember
that from Ango. That was that was at premise.
Speaker 4 (03:41):
Man.
Speaker 2 (03:41):
I I actually, you know, my bookkeeper comes in. I
wanted to be able to send her uh and out
to out to any any appointment and be able to
come back and trust those numbers. So it's it's just
it's such a massive hole in our in the business.
Nobody teaches it well and nobody has a system like
this out there. So everybody throws repair calculators in their
(04:02):
in their software, but nobody does what we does. We do,
which is basically just click of a button and it
calculates for you versus you having to pre input amounts,
and it's basically a training just on visual you know,
what do I see when I drive up to the house?
You know what? That's the only training that's involved is Hey,
which buttons am I pushing? So uh, it's it's it's
(04:23):
just a key part we've been focusing on, you know
so much. The fact that pairing that with the comps
that we provide now that we that we do pay for.
It's not just a Zilo API, you know, they killed
that for everybody. So we're actually providing you with a
great comping tool plus the repair cost. What does that
get you? It gets you right to a cash offer
that you can send right there from your email, right
(04:45):
from your tablet, your phone. And that's what this is about.
Right If you're not sending offers, You're not getting.
Speaker 1 (04:50):
Deals, man, Isn't that the truth?
Speaker 3 (04:54):
You know, one of one of the biggest challenges. Like
right now we're we're moving into new, new areas and
new markets, and you know, we'll probably get into it
later in the call, but we I wiped out my
entire sales team and so I'm actually taking calls again.
We got some new people starting in this next week
of me training. I'm actually jumping on the phone in
a brand new market and trying to like wrap my
(05:15):
head around the numbers there, like what's the RV's, what's
the what's the rehab costs in that market? All that
kind of stuff, And it makes me feel like, just
from in my head perspective, it makes me feel like
I'm brand new again. And it takes me all the
way back to standing at home depot trying to price
things out, trying to get my head around the numbers,
trying to make sure the contractor wasn't taking advantage of me,
all that kind of stuff. And what this tool does
(05:38):
is it removes all that brain damage. You know, literally
you can go through and click things off and remove
all that brain damage. And that's that's the important part
of this from from just a newbie perspective, if you're
watching this and you're thinking about, you know, doing rehabs,
this tool removes all the guesswork. It takes the learning
curve what took me months and months, probably even a
year to really nail down, and takes all that us
(06:00):
work out of the way number one. Number two, if
you're trying to build a team, like my acquisitions team
that I'm bringing on at now is going to be
trained starting from day one, and we have estimated pro
because I know that there's not any thought that has
to be put into checking the box, like just what
do you see? What do you check? And that's it
give us an accurate number. And so it's an amazing tool,
(06:21):
and it's something that I wish I would have known
about when I got started back up again in twenty
twelve or even way back in two thousand and three,
because it just took a lot of brain damage away
from all of the guess work.
Speaker 1 (06:32):
Yeah.
Speaker 4 (06:32):
Absolutely, I just want to jump in as well and
just say something. Hopefully my internet's okay, guys. But when
I started in the business, I can't fix anything right,
I mean, I'm not I'm from England. I've never done
anything anything in my hand I can't do nothing right.
So when you get into real estate and I'm in
sales and marketing, I feel I can sell anything and
(06:53):
do all that. But the bit that I was held
up on is I would I started virtual because I
was scared of going in the house, right because I
don't know anything and which is a roof.
Speaker 1 (07:04):
No idea does it need this?
Speaker 4 (07:05):
Absolutely no idea couldn't tell you anything. So I chose
not to go. So I started my my real estate
journey being virtual. But with this tool, after you took
us through it, Matt was genius in terms of nothing
else is like it on the market, right, That's what's unique.
It's not like this is a copy of nine hundred
things that are out there. This is something I'd never
(07:26):
seen before. And having the ability just to push buttons
and actually giving you again a clear estimate to get
you in the range is I think it's brilliant. So
I think anyone that is like me that is not
a fix and flip. I'm not a handy person. I
don't know them things. All I know is I can
sell and I know how to market for leads. This
is a tool that you can take with you and
(07:49):
actually gives you the confidence to say, yeah, I.
Speaker 1 (07:51):
Can run an appointment.
Speaker 4 (07:52):
And I just want to throw that out there. So
that's what I got from it.
Speaker 2 (07:55):
Love it, man. I'll tell you what. Don I feel
like I've arrived at this same point right now? I
literally have just just you know, it's it's almost embarrassing,
but you know, this is this is where we're at
right man. It's always about abundance and sharing. I have
a yellow pad on my desk right now with two
pages filled out with addresses because I'm read, I'm I
started from scrim I'm training acquisition guys at sales guys
(08:18):
right now in my market. And uh so I did
what we teach, right I sent out a vacant list
and I've already had over a five percent response rate
from that just one direct mail piece so far, and
it's blowing up. And so now I'm going on these
and I'm using rap and I'll give you a great
example of yesterday because Gavin, like you said, you know,
(08:38):
it gets you to that that what I call a
takedown number. Okay, we've gotta we got to get close,
and we got to trust it right. So you may
not run your entire job based on that scope of
work in that number, but it actually gets you to
where you need to be. And so here's a perfect example.
I'm with the guy yesterday. He comes up from Florida,
he gets my vacant letter, calls me and says, hey,
it's really good. I went out. The house is a
(09:00):
right house, man. I mean, you know how many turds
we see every day right like this. It was refreshing
to actually see something. It's like, oh my gosh, this
general contractor was doing amazing. It just it got ninety percent.
They're partners, so he's not making money until it's all done. Well,
nobody's been on the job for seven months, so they're exhausted.
But it's beautiful work. It just needs to be completed.
(09:22):
So he tells me right off the bat. When we
finally get in there and we've done the rapport, we've
walked through the house and I've got rip and he
says and I say, hey, man, let's get to business
where you know, this is what we're here for. It's
numbers time, you know, And he's he throws an anchor
out there of well, it needs thirteen thousand left in repairs.
(09:43):
I said, really, hey, I've got this national software that
we use. It's it's good in all markets. It's you know,
let me just run it through because it's it's great.
I even was toggling the numbers. I won't get deep
right now, but hey, fifty percent for this needed still.
I mean they did half the roof. I mean, honestly,
who does half to Oh yeah, like, I'm telling you
(10:03):
it was great work. It's just it's one contractor on
the wold house, right, So anyway, I get down and
just show them here's the numbers, like and in the
end it ended up being thirty eight thousand in repairs.
Left is a two thousand square foot house, four bedroom,
three bath. They converted from a duplex into a single. Okay,
so but in the end I was able to do it.
(10:25):
He wasn't able to dispute any of the numbers, any
of them, because he finally said, yeah, that's probably true. Yeah,
that's actually probably more accurate. Yeah, you're probably right, bam.
And it was undisputable to just have something in front
of you. How often do you leave the appointment and go, hey,
let me go work the numbers? And I'll get back
to you. But to be able to show something real
(10:45):
time changed it all. And I was just yesterday.
Speaker 1 (10:48):
So did you make him an offer?
Speaker 3 (10:49):
Oh?
Speaker 2 (10:50):
Absolutely, I never go to a house without making an offer.
So and you know we can get at a little uh,
a little deeper than this. But my offer, which I
think he's going to take number one. You know, he
dropped the anchor of one sixty. Okay, I showed him
right there out of rip. His cash offer was one
hundred and thirty one thousand, okay, But I said I
(11:11):
did get up to one hundred and fifty because I'm
making him carry the note through completion and he gets
paid on the back end. And all of a sudden
it changed the whole game because I told him I
would just make interest payments to him, so he'd be
getting paid now after this disaster for you know, how
however long they've held it.
Speaker 1 (11:27):
Did he partner Matt with somebody? Or did he hire a.
Speaker 2 (11:31):
Crew fifty fifty contractors?
Speaker 1 (11:34):
Split? So, so, guys, did you hear what just happened here?
So there was a joint venture and now there's another
joint venture. I love it right, right, creative as well.
Speaker 4 (11:45):
Right, and also as well, let's not forget because we
are coffee with closes. Everyone needs to look at that close. Right.
You went in with a low offer of the cash,
then you pivoted into terms to get the deal done well,
hopefully done right, which is huge Where that number wasn't
you were lower again when you price anchored down, and
(12:08):
then you came up on terms to hopefully get the
deal done. Because why you're solving the guy's problem. That's
what you're doing, that's your focus.
Speaker 1 (12:15):
Yeply good.
Speaker 2 (12:17):
He loved having that that ficked, you know, window two
of Look, I'm gonna get that. You've been sitting on
this for seven months, you know, yelling at the contractor
even though he's done amazing work man, his drywall and
title work is phenomenal, but he can't get it done.
He ain't coming back. He's making money, you know, he's
he's out, you know, doing other stuff. So sixty days
(12:39):
we're done now, even to one hundred and twenty for
full closure, you get paid.
Speaker 1 (12:43):
What's the current sittion? Not that this matters and it's
really not any of our business, but I'm just curious
how you guys were able to work around that current agreement,
So is he still splitting that his half.
Speaker 2 (12:56):
He's a he's a really good I'm glad you asked
that because I know the answer, because he's a The
guy was just a you know, solid guy as soon
as you meet him. He owns property northern Wisconsin, he
owns he lives in Florida. You know he's this is
you know, he's super tan, he's on a boat, he's
retired from the insurance business, and he's He specifically said
(13:16):
because I said, hey, man, I know you said there's
a lot of materials off site with the contractor. You know,
I can't make you promise you're going to bring them here,
But how are you going to how do we deal
with him? And he goes, oh, no problem. When this
closes out, I'm going to give more than my fair
share because he's done all of this work to date
that I will pay him for.
Speaker 1 (13:34):
Sons from that guy that the close. Yeah, yeah, you
may even want to go get something signed with him.
Speaker 4 (13:41):
Now.
Speaker 1 (13:42):
That just says that you're releasing your you know, interest,
assuming that he holds up his bargain or something along
those lines.
Speaker 2 (13:48):
Right, that's a good idea. That's a good idea.
Speaker 1 (13:50):
Yeah, man, very cool.
Speaker 4 (13:52):
I have another question, just on the close, what was
you what made you why didn't you get the contract?
Like was he thinking thinking about where's he at mentally
right now with this?
Speaker 2 (14:03):
Just because it was it was it was something that
I saw in his eyes and his face when I
when I just gave him a creative solution. It was
just that, you know, that look of confusion where they
just kind of go, huh, I've never never you know,
like he's he's never actually experienced anything like that. So
it really took some you know, he was really straining
to understand, like hmm, you know. So it was, hey,
(14:26):
we have a call scheduled today and I'll say, hey,
make sure hey, you got my cash offer, you got
my other offer. Let's talk about this back end because
I really feel like you want to move that direction.
You know.
Speaker 4 (14:37):
Awesome, and I think as well, just for everyone listening,
is very rarely you will ever close a creative deal
at the table first time round one conversation. So I
was leading to this because I was hoping that's what
you're going to say, and that's the point that will happen.
So you're literally teeing the call up for a return
because of that confusion. They need to take that on board.
(15:00):
Go this is genius. I'm ready to go and that's
all it needs. It just needs a little season in time.
And I'm sure you'll have a call today and get
it locked. K.
Speaker 1 (15:08):
That's awesome. Let's clear the question really quick, man, Smith, asks,
are comps similar to the MLS comps like Propstream?
Speaker 2 (15:17):
Okay? Uh, great question, man. I love I love the
fact that you know the comps are kind of getting
We never really paid attention to, you know, promoting that side.
But now you know, it's just a complete package to say,
you know, comps, repair costs, get to your offer, right?
What else is there?
Speaker 3 (15:32):
Man?
Speaker 2 (15:32):
You know ARV repair costs. Let's get an offer, right,
cash offer. So so we're buying data now. And I
compare just so you guys know, every day whenever I
do this, because I'm in the business, I don't. I
don't just you know, do software, right, So every day
I compare my own MLS, I compare prop Stream, I
(15:53):
get into you know, you pull it up on Zilla,
pull it up on County. Look what it says like.
I always do multiple facets, you know, to see And
so I'm not here to trash any system or the other.
But the data is really similar. It's just you know,
with prop stream, you know they have to pull it
at certain times, right, So it's not it's not literally
(16:14):
a live you know connection. They might not show that, Hey,
there's fifty properties here, but you know forty of them
are under contract already, right, But it's showing, you know,
when you get into souls. I love how prop stream
pulls are radius and gives you like one hundred properties
you know around that as well. So it's it's it's
very similar. We're also adding all of the mortgage data
and everything else now as well instead of just giving
(16:36):
you those numbers. So, but importance is you if you don't.
Speaker 1 (16:40):
Need your own due diligence regardless, Guys, no matter what
system you're using, I don't rely on my prop stream
ar vs, right, I don't rely on Zillow's estimates. I
don't rely on redfin estimates. But I want to see
all that information when I'm making my offers correct. None
of these points are going to be the one that
you can rely on blindly. You know that the more
(17:05):
data you have, the more educated that ARV is, guys,
an ARV is nothing more than an educated guess, right anyway,
I mean, let's be honest.
Speaker 3 (17:16):
Yeah, I've got I've gotten appraisals more than I can
get somebody to buy the property for, and I've gotten
appraisals for less than I can get somebody to buy
the property for. Even appraisals don't always come in for
where the buyer's at. That's just the reality. And at
the end of the day, it just matters what you
can sell it for, right, Right. So the other thing is,
you know, if you're doing pre work, right, if you're
doing pre work before the appointment, you're sitting down, you're
(17:38):
looking through your different sources and you're getting your ARV
in line, and you're estimating your you're guestimating your repairs,
and you're doing some Google street views and stuff like
that to understand the neighborhoods and stuff before you go.
That's that's one way to do it. This is a
tool if you're on the fly as well, that you
have that number. If you're out of an appointment, you haven't
had a chance to do pre work. Maybe this is
the last minute appointment. May be it's just maybe you're
(18:01):
like me and you shoot from the seat of your
pants and you want to be able to make a
quick assessment. This is a tool to utilize that and
be able to show the seller numbers right there. Hey,
you know this is this is where we're out on rehab.
This is what we think the value is. This is
this is what you know, what we should be behind
this property for. If that's the way you want to
use it for a close it makes a great tool
for that as well. So you know, look at it,
(18:23):
look at how you're running your business, and think about it.
I mean, this is this is again a great shortcut
to brain you know, all the brain damage of doing
a whole bunch of other work on something that you
may not get in contract.
Speaker 2 (18:32):
So one of the.
Speaker 1 (18:33):
Things I really like, guys, is that not only does
it help you estimate your repairs, but it helps you
get the offer sent. But then on the flip side,
it's assuming that they accept the offer. Now you don't
have to go back and create a scope of work.
The scope of work was done when you estimated the repairs,
so now you can spit that scope of workout. You
can use that scope of work when you send your
(18:55):
offer as an additional attachment. Here's how I'm coming up
with my offer. Here's the repairs. But then you can
also flip the script and say here's here's the scope
of work to my general contractor to go do those repairs.
So it's actually doing multiple things simultaneously, which you're right.
Speaker 2 (19:10):
I love it, man, David, You're always spot on. Man.
I just had a conversation this morning with one of
my guys I use it has spent over a year
since I've used him. His name is Hector, and he
I just just kind of reignited it because I've got,
you know, too many deals popping up, and so I'm like, hey, man,
you know where are you at? I need you? And
he said the eyes on board, but he's now dialed
(19:30):
it down to just one counting, which is fantastic. He's
figuring that out for himself, right. Well, I said, look,
how do you how do you want to approach this?
And he immediately referred back to Hey, you're the only
guy that I trust where you actually used to hand
me IRP scope of work with prices. Guys, I'm not
trying to make money on my flip like that. I'm
not trying to make money run into home depot to
(19:51):
buy tile so I can save you know, one hundred dollars. Okay,
I let you the contractor value engineer it. I've been
a licensed contractor general contractor for over twenty five years.
All right, I have authority on this, on this side
of things. If that's all I know, Gavin, all right,
I've got got something right. But that's the beauty of
(20:12):
it is just here's your scope of work, and here's
the numbers for every itemized piece. Okay, please make that work.
It always works for they make it happen.
Speaker 1 (20:22):
So that's great. That is awesome. Yeah, great piece of software.
You guys have calculators in there as well to to
basically use the m AO formula essentially. Right, right, So.
Speaker 2 (20:38):
Here's here's the uh. Here's here's the thing that this
is kind of the the uh. The first we're going
to talk about this here is on this show, we've
got this new wizard that we developed and it's again
it's not supposed to be, you know, adding on all
these extra pieces. This is actually in the formula building,
which is already there, but you can literally go in
(20:58):
now and it's it's I've released to a bunch of
heavy users. But now we're gonna we're ready to go
public with this in the next couple of weeks where
it's it's our Wizard formula builder where you go in
and you pick right on the front end. Hey, look,
am I wholesaling this property? Is this going to be
a subject to is this?
Speaker 5 (21:14):
Uh?
Speaker 2 (21:15):
You know pre foreclosure?
Speaker 3 (21:16):
Is it?
Speaker 2 (21:16):
You know you're picking, You're picking, you know what this is,
and also your exit strategy on the back end, and
so you can start building. Hey look, sometimes if I'm
gonna go this is a wholesale rental. Okay, so you're
still gonna have repair costs in there, but you're also
gonna have cash on cash return that's getting calculated and
your wholesale fee and then it spits out that final number.
Speaker 1 (21:37):
So which is awesome because you can then use that
to market the property to correct, which is awesome. I
love it. I love Two Birds one Stone. Yep, I
love these anything you do, birds anything too.
Speaker 5 (21:48):
Yeah, I'm gonna get a shirt with that Two Birds,
one Stone.
Speaker 3 (21:59):
We're gonna wear that next time we're together.
Speaker 1 (22:00):
Anywhere I'm in, I'll order me a couple.
Speaker 2 (22:05):
It could be to loom, you know that.
Speaker 1 (22:09):
I love it. I love it. So don you are
using this daily right with your team? Do you have
your team members because you're the fix and Flip guy
on the show, We I do a couple. I know
Gavin's got a couple as well going at any given time.
But your main core business is fix and flip. So
(22:30):
do you are you having your team members go out
and do this, you know, run the rehab estimation when
you're running your appointments or you know, so and so forth.
How are you essentially using it? I'm just curious.
Speaker 3 (22:44):
Anybody that is being trained into my organization new is
being trained on rehab estimated Pro. So that's that's how
we're doing it. We we're you know, we've been doing
this for a lot of years. And so like my
my project manager, just just for the sake of the
fact that we stood in home Deep but we know
every single go home Deeople layout in our county, which
is insane because there's multiple but I can go to it.
(23:06):
He's like he's like a rehab Estimator pro machine. Like
I can walk up to him and go how much
is it for us to install sliding last or how
much is it for us to do flooring this level,
this level, this level, right, so he can pop those
numbers off his head, out of his head. And that's,
like I said, the brain damage of just you know,
learning it and doing it and getting ripped off and
and everything else. So but for the sake of our
(23:29):
you know, our being, us being dialed in on our
offers and getting our offers right right out of the gate,
for the sake of us not having to beat numbers
into our team and being as accurate as we can.
Everybody coming into my organization new is being trained on
rehab Estimator Pro because it's it's it's a tool that,
like I said, it just it cuts the education time
down to almost nothing. It's a it's a it's a
(23:51):
point and click solution, and ultimately, at the end of
the day, it's gonna get us more dialed into where
we really need to be. One of the things that
I live by and just we have some systems in
our business and this is this is why this this
helps the systems in our business. Like I don't trust
anybody who makes money off me closing on a deal.
That is, yeah, as a wholesaler or real estate agent
(24:14):
or my acquisitions person. Right, anybody who makes money off
me closing on a deal. I do not trust one
and so and just to kind of give like, we
have a system in place that our our our project
manager has to check every every property we're going to
close the flip before we close. Because we had a
situation one time where acquisitions manager walked through a property
(24:35):
and we he'd been with me for a number of years.
This is pre rehabittionmtor pro and I was like, uh,
he said, it's gonna be thirty grand. A lou doesn't
have to check the property. It's going to be thirty grand.
He missed the hva C that was on his last leg.
This house had plexiglass windows. Who puts plus the last
windows in a house? Right, So it's a d D
(24:56):
Y right.
Speaker 4 (24:58):
So that's a new reab totally.
Speaker 3 (25:05):
Exactly. It ended up being a sixty five thousand dollars
rehab on this property and we we actually still made
money on I believe it or not, but that not much.
But at the end of the day, I put that
system in place and from this point on the product
Maaguer has to see the property before we close it period.
Hands down, it doesn't see it. We don't close and so,
but ultimately having a tool like we have Estimator Pro
(25:27):
where it would have went through and you had all
these things to check, right, you're checking or you're walking
through and checking all these things off and checking the box.
He would have looked at the windows. He probably didn't
even look at the windows. He would have looked at
the HVAC. He probably didn't look at the HVAC. He
made He went through and made assumptions based on certain
things that the property and didn't look at others. And
so having you know this to be able to check
off and spit numbers out gives us will give them
(25:49):
a more accurate tool to not only hold them accountable
to make sure they're looking at everything and checking things off,
but then it spits out appropriate numbers that they can
actually realistically negotiate off of that we and then know
we're a little more secure in moving forward on this property,
if that makes sense.
Speaker 2 (26:05):
So absolutely so, you know what don I did add
just for that reason too. So in the in the
upper left hand corner above, when you when you're when
you're logged on and you have your properties in front
of you, it's it says to you know, hey, print
my checklist, so and it's exact screens that you see
on rehib estimator pro. So, say you just load up
your your people or you want to train them to
(26:26):
go out, you can just print off a bunch of those,
even if you're not bringing rap on a tablet live
in the field, and so you can basically have somebody
you know quit, you get a call, they run out
the door. You know, got to see this property. Now
it's a pocket listing from a realtor. They're going to
list it tonight. You can go see it first, you know,
you run out there. It's the exact screens you're going
to see. So you basically just check the box, put
(26:47):
a number in where you have to like windows, you know,
and then bring it back to your team and then
they can just go right down the line and go, okay,
check check, check check, you know, fifteen windows, check check, check. Done.
There's your estimate. And that checklist, like you said, forces
them to look at every component in the house quickly.
You know, we don't have it's one screen per checklist.
(27:07):
It's not four thousand line items. You're not trying to
figure out. I wonder how many linear feet of crown molding.
Speaker 1 (27:13):
We're gonna yeah, that's that's the ten percent contingency that
covers all. Yeah. Absolutely. But one thing I really like though,
is by having that checklist, it forces whoever that person
may be, right, could be the bookkeeper, could be your
acquisitions guy, it could be you that's walking through the
property to at a minimum check the no box on
(27:34):
a lot of these items that could essentially get overlooked. Right,
you either need to fix it or you don't. Yes, no,
And then if there's a yes, you need to then
put in how many square feed or whatever it may
be to determine what that cost is going to be.
But if somebody goes in and they check the box
no for an HVAC and then you buy the property,
it needs it. Hey, there's some additional training that we
(27:55):
got to cover here, guys, like what did you not
notice about this HVAC being thirty five years old? Yep,
you know. But again, it forces them to look at
those line items when they're in the process of determining
those repairs.
Speaker 2 (28:07):
I like that, yeah, yeah, And it's also man, I
love the social proof of it. When you're in a house,
like I carry my iPad with an apple pen, And
I am telling you, if you can get them on
board where they're looking at, what are you doing it?
Because I'll ask, you know, you can be that guy
that walks in as the investor and say, hey, you know,
have there been others before me? It's it's no problem
(28:28):
if you tell me. But are these clowns bringing in
yellow pads you know and writing stuff down? You know?
Like I said, we use we use software in our
business and so that's how we come up with real
numbers instead of just pulling it out of the air.
And so as I go through, I start checking it
with the pen and they get so interested. I just
hand it to them and say here, you know, could
(28:49):
you could you hold this for me and just check
those boxes as we go through, and I'll just kind
of I got my flashlight, you know, I'm gonna you know, and.
Speaker 1 (28:54):
They go and they click those boxes and every time
they click a box, the price goes up, it up,
but they don't know that. But the process is such
a great way to build rapport, increase the trust that
you may or may not have with that person. Hopefully
you do after the fact. Right, It's just bringing them
(29:16):
in is just such a great way to, you know,
get them to really say, Okay, the repairs are showing
thirty grand on here, that's really what they are, versus
them trying to say, oh, you know, I know a guy,
we could probably do it for ten. And when people
tell that to me all the time, I say, cool,
you go do all these repairs and if you can
pay the guy ten, great, I'll pay you this for
(29:38):
it now. But without those repairs, I'm paying you this.
And I think, out of about you know, two or
three hundred times I've told that to people. Never has
that happened where they go get those repairs done at
their cost and then I buy the property at that
elevated price without the repairs needed. It never happens, Right.
Speaker 3 (29:57):
That's great, that's a great line though. That's a great
but you don't do that, and then my price will
be here. Yeah.
Speaker 1 (30:02):
Yeah, So I'm not gonna have to spend thirty. I'll
give you thirty thousand more from what I'm offering, and
if you can do it for ten, great, But what
ends up happening is they either spend thirty or they
spend ten and it's a third of the way done,
and then you can come in you get an even
better deal. Well, you have to ask the work on this.
I had to redo it all price is the same. Yeah,
(30:25):
thanks for the eight gram with the work you know,
so love it. Love it man, that is really really awesome. Guys,
if you are watching and listen in and you have
questions for Matt, ask those questions. We encourage the audience interaction.
We use this to connect with each other, learn about
new products and services, industries, industry practices, tips and tricks,
(30:50):
you name it. But we also want to include you,
the listener, the viewer. So if you have questions for Matt,
now is the time to ask those Matt. I know
that with any software company you got, you know, the
owners of these individual companies are constantly adding you know,
features and adding things along the way. What are some
(31:11):
of the things that you guys have introduced, you know recently?
Speaker 2 (31:14):
So, like the first is that that wizard we've been
working on for about six months and you guys know
Steve Carlson too down in Texas and we've been working
with him because he does so much on the sub
to side with notes and and everything else. We've been
working with him. So uh. Again, without wanting to get
you know, too many things that just confuse people. You know,
(31:37):
this is something. The next thing I really want to
add is a very simple uh presentation uh for lenders,
because I think that piece is is simplistic enough because
it's just pushing a button so that you can have
a complete product that you're going to send for private money.
So since since I'm using private money on every deal
you know that I close, I I have to go
(32:00):
through to a to a separate you know, area to
to basically pull and put that. You know, it's template based,
but it just needs numbers and you know, pictures on it.
So so number one, I want a piece that's easy
to just say, hey, here's here's a click of a button.
You can you know, send this to your private money
lender for review. This is what you're looking to borrow.
They begin to trust R e P because they want
(32:22):
to They want to know that you know what you're
doing right, like your your numbers are correct. So and
number two, I'm looking to add pictures in a third
party application because there's no place to really you know,
I want to be able to have people go back
and just click a link that will be able to
show you pictures of the property, so that you know,
if you're more say you've got ten twelve acquisition guys,
(32:43):
or say it's you, you know, you still want to
be able to have this where you can go back,
you know, and look because you know how it works.
Follow Up is key, right, Like that's where your deals
are coming from most of the time. So you know,
we're going back to deals a lot of times that
you know they may call back exhausted, they're finally a
motivated seller, and that's you know. So those are some
fun features that I'm trying to add without complicating the
(33:04):
system too much.
Speaker 1 (33:05):
I love that you said without complicating the system too much.
That is an issue I feel like with a lot
of softwares these days is you know, they start out
with a simple idea and four or five six years
later it does a lot of stuff. But you got
you gotta sit down for hours and hours and hours
to learn how to use all these things. I keep
(33:28):
circling back to less is more, man Less is always more. Yep,
it just is. So I really like that. Matt's got
a question here, Matt Smith, does it dial in even
as deep as removing shake shingles or three layers or
say needing sheeting replaced. I'm assuming he's referring to roofing here, right,
(33:51):
Oh yeah.
Speaker 2 (33:52):
Yes, David, Yes, he is love it.
Speaker 3 (33:54):
I don't.
Speaker 2 (33:55):
I don't do that type of I love it. Man,
it's a.
Speaker 4 (33:59):
Lot.
Speaker 3 (34:00):
What the heck is a shake?
Speaker 2 (34:02):
You know? So it's a it's a it's a great question.
And uh uh So here, here's the premise. You're going
to see three areas that you're going to be responsible
for being in. If you're a newbie or if you're
a you know, acquisition guy that's getting trained, sales guy
that Don's training. I want you to stay in the
(34:22):
three areas that you are forced to look at as
you drive up to the property. Here's your exterior, there's
your interior, and here's your miscellaneous and others, which gets
into the mechanicals and certain things. So I want you
to stay in your lane there. Now on the back end,
for a guy like Matt Smith, here there's an other
section which has hundreds of itemizations in it that are
(34:44):
for the experienced investor contractor. Guys like Don was referring
to that. This guy can be in home depot and say, hey,
you know how much is it to install this sladding
door right and there that's when you're going to get
into issues like removing shake or putting sheeting on it.
But these are also areas the only place that it's
needed where you're going to have to put, you know,
(35:07):
dimensions in If in the first three sections I don't
want you bring in a tape measure, you do not
bring a tape measure. You bring a flashlight and sometimes
if you want to bring an electrical tester you know
for outlets. Okay, But in the back section you're going
to need to put in, Hey, I need this many
square feet of decking replaced on this roof, you know,
to resheet it. Or I have multiple layers of shingles
(35:30):
and you add that, or I have you know, sixty
linear feet of soft and facia versus just clicking the
whole house right. That's where Plus I have all new
construction pricing built in on the back end as well.
So that's all there. I just don't like to talk
about it as much unless there's questions like this that
come up.
Speaker 1 (35:47):
No, that's a great question, guys. So it starts out
with the basics, right, and then if you want to
go in and you want to detail specific things you can't.
I love it. That's a great question, Casey says Matt.
I love you, bro. I don't know if you know
him or not.
Speaker 2 (36:02):
Oh yeah, I do.
Speaker 1 (36:04):
Awesome. Matt's got another question. Is it easy to export
the rehab comps and offers into say a folder on
your computer?
Speaker 2 (36:12):
So yes, right now it's everything gets sent out PDF. Okay,
so it's it's going to send out you know the
now that that we just added, being able to add
the comps to that that you used, because it's not
a tool, you know, actively where you go, you can
like go back and look at the comps because it
pulls them live. Okay, we're every time you click that button,
(36:33):
we're purchasing that data for you. Okay, So yes, you
send it into a folder. Also, we can actually send
it right into your CRM. So like right now, there's
a button on it that says push to Podio and
you can literally just push it and then it'll go
right into your Podio system. So and and we can
if there's other you know, CRMs you're using, then we can.
(36:54):
If we don't already have it on the list, we
can develop that as well and be able to push
it there.
Speaker 1 (36:58):
Yeah, there's only a couple of things that I would
think you would ever need to export. One would be
the contract or the offer right and you guys are
you guys doing it has the ability to make an
offer right.
Speaker 2 (37:07):
Correct full cash.
Speaker 1 (37:09):
So the next would be the the actual repairs in
the price in the list, A to give to the
seller if they question your offer or you want to
justify it, or B to give to your contractor, which
would be the scope of work right. So I mean,
other than those two things, there's really probably not a
ton of reasons that you'd want to export. Maybe comps
(37:29):
as well, you know, if you want to also again
justify why your offer is what your offer is. But
a lot of that stuff is just kind of built in,
which is really really cool. Yep, yep. So that agrees,
that is really really cool way to go.
Speaker 2 (37:45):
Matt also love it. I'll just I'll throw another thing
up to like, so for Donal guy who you know, like, hey,
this stuff takes literally sets to go in. Stay dishagrees
with xterior door for five hundred bucks that you know
is gonna be a single door gets installed and you
say no, actually, you know it's six twenty five right
(38:08):
now or whatever it's it's takes seconds to go and
put your own values in as well, so that you know,
say you have a guy that you know consistently has
been a rock star for you, and can adjust those
up or down in any way. So super easy to
change your values if you need to.
Speaker 1 (38:24):
So do you recommend people going out on site with
a tablet? Typically? Yeah, that's probably the easiest way to
use it, right.
Speaker 2 (38:32):
Right, And I'll give you another. Uh, I'll give you
a big one today, because nobody does this, man, nobody
does this. I have a thermal image printer that fits
in my pocket, okay, and it's bluetooth. So I literally,
while I'm sitting or coming down the stairs or whatever,
I'm printing out the contracts with three different offer prices
(38:53):
on their kitchen table. Okay, who does that? Right?
Speaker 4 (38:57):
Yeah?
Speaker 1 (38:57):
I might need to get that link. Man, I'm gonna
have to get me one of these and throw it
in my trunk just to have it with me.
Speaker 3 (39:03):
Man.
Speaker 2 (39:03):
I think it's amazing, great idea. You can print the
tax records out, you can print you know, something from
your your title company, you know whatever. Just right there.
It's a it's a thermal image printer, so you don't
need ink. It's a great tool. Man. Nobody else on
the street is doing that. So if you start doing that, man,
you're the only one. You've got a leg up on everybody.
Speaker 3 (39:25):
Yeah, you have to send this link to that man
yet even appointments.
Speaker 4 (39:32):
But.
Speaker 1 (39:35):
Print some fake darking tickets and put on your buddy's shield.
I love it, man, that's awesome. That is that is
that will definitely give you a leg up in the
game by having the ability to walk the property with
the seller, create that real time list of repairs with costs,
print it out right. If they want to go through comps,
(39:57):
you can print those comps out. If you want to
also go find you know, comps from Zillow or redfin
or propstream cool or your local mls, print them out.
Speaker 2 (40:06):
Love it.
Speaker 1 (40:07):
Have that all right there, then print that offer out
or have your offerer that's I carry around a bunch
of blank contracts, right, so that's another option. Or you
can just print it right there, fill it out, but
basically justify to the seller that your offer is fair.
And that's really the difference I think between There's a
lot of things that you know are going to differentiate
(40:28):
the newbies versus the guys that have experience. But one
of the main things that I've found from the people
that have experienced is they know their offers low and
they're not trying to sell the seller on the fact
that it's not low. In fact, they embrace that it's low.
But what they do differently is they justify it as
being fair.
Speaker 2 (40:49):
Right.
Speaker 1 (40:49):
It can be fair and low, right, and the way
to justify it being fair is to use those things
that you use, those comps, use those repair estimates, and
also so change the framing in your own mindset of
this isn't me versus the seller, This is me and
the cellar market.
Speaker 2 (41:07):
Right.
Speaker 1 (41:08):
The market is what the market is. You can't really,
you know, say that you know ARVs in this neighborhood
are six fifty if there's five cops showing three fifty, right,
I mean, it just is what it is, you know.
So awesome, Matt, that is awesome, very very cool, Court says,
great show. Thanks for what y'all are doing for the
real estate investing community. Court, thanks for watching, man. We
(41:30):
appreciate you. We love doing this live show. Join us
every single week Wednesday mornings eleventh Central, twelve Eastern is
it nine.
Speaker 3 (41:40):
Specific nine Pacific? Yeah, and one more shout out Dave
that we didn't mention at the beginning of the show.
When you start mentioning, is this is being released as
a podcast as well. You can find it where you
find your podcast.
Speaker 1 (41:52):
Oh, that's right. Yeah, and the team just got the
podcast going as of I think yesterday at the day
of four. So yeah, if you miss one of these
live shows and you guys are driving, yeah, definitely check
out the podcast. It should be on any and all platforms.
If not today, it will be in the next day
or two.
Speaker 2 (42:09):
I love it, man, I look forward every week there's
a there's a banner that drops on my phone coffee
with closing.
Speaker 1 (42:17):
You know, we we have a lot of fun doing
this live show every week. It's growing, which is really
really cool, and you know, we get a lot of
really really good feedback. So Matt, we're really happy to
have you on the show.
Speaker 4 (42:28):
Man.
Speaker 1 (42:28):
We're super grateful for your time and all the energy
and efforts that you've put into this such this such
an amazing you know software, which is which is really cool.
Speaker 4 (42:39):
I just want to say one thing as well about
Matt you know, Matt's obviously, as we said, he's a
cool guy, but he does a lot of things outside.
I'd like you to talk about it, Matt a little bit,
if we don't mind some of the adventures, the things
that you do and you.
Speaker 1 (42:51):
Just text me a.
Speaker 4 (42:55):
Yeah, So just talk about that a little bit. You
do some things. I don't know how you have a
this time, but it's amazing some of the things that
you do is is incredible. So just tell us, like
the trip that you've just been on, the latest one
and kind of the thing that you're doing outside inn
in other countries.
Speaker 2 (43:12):
No problem, man, Yeah, that's uh, that's that's Those are
my reasons. Man. I part of part of the proceeds,
you know, for subscription goes right towards these projects. Every
every every you know dollar out of every prescription, so subscription,
so I I I build all over the world. It's
it's missional. We build schools, we build houses, we build churches,
(43:35):
community centers. This this is uh. During this last year,
it's been crazy because I've I've just I've called everybody
my road pirates because everybody's shut down their trips. But
we just kept going. Man. But so I do Go I.
This will be my seventh trip this year.
Speaker 3 (43:52):
Man.
Speaker 2 (43:53):
Next it's in three weeks. Man, this is my hardest trip.
This is into the bush in Tanzania. We are literally
intense hyenas barking at nights. I mean it is. This
is an unreached people group that we're building a school
for out there, and so that's gonna be that's gonna
be great. We just got back from Honduras. We we
(44:14):
had a big build up in the mountains, six thousand
feet up that was just amazing. There were sixty nationals
that showed up to help us as well. So it's
just man, it's powerful. It's life changing. Not only is
it life changing for communities that we're touching, but what
I've found is that it is more impactful for the
people that I bring and assemble. That's those are the
(44:36):
lives that are seriously impacted, and they bring that back,
they bring that energy, they bring all that you know, uh,
you know how their life has changed. And and David,
even on our trip, you know, same same kind of thing.
You get people outside of the US and in a
setting where they're relaxed and vulnerable and focused on one thing.
Powerful things happen. So that is a that's a big
reason a part of you know, what I do. I'm
(44:57):
gone twelve weeks out of the year as a as
a you know, combined total. But I love it and
don't plan on stopping anytime soon.
Speaker 1 (45:04):
And that's awesome. Man text me this morning about a
trip that he's going to be hosting in January to Honduras,
and I'm in Matt, I told you in Costa Rico,
I wanted to start doing stuff like this, you know,
use this opportunity to to help people, but also to
grow internally, you know, And there is a small selfish
(45:26):
aspect in there too, is I get to spend time
with Matt, you know, it's like why why that that
alone is gonna be cool, you know, But there's also
a lot of other people that I'm gonna get to
meet on these trips and build some really really cool, lasting,
meaningful relationships.
Speaker 2 (45:41):
And it is, uh, it is, It's exactly that.
Speaker 4 (45:43):
Man.
Speaker 2 (45:43):
We're gonna work hard, trust me, it's going to be exhaustion.
You know, at the end of the day, we're laying block,
we're mixing concrete. But guess what, you know, yes, those
relationships as well as we're also going to be cliff
jumping in Roatan. Okay, Like we've got to add those
pieces to it too, you know, to to reward that
hard work. So it's all over man.
Speaker 1 (46:03):
Yeah, I'm excited. Man, that's going to be really really cool. Guys.
We got about ten more minutes of the live show here.
If you have specific Cannat talk today, if you have
specific questions for Matt about rehab Estimator Pro, now is
the time to ask those questions. And this software is phenomenal. Guys.
(46:24):
Take it with you. You can use your phone, you
can use a tablet, you can do it from your computer.
You could do that in the car, at the kitchen, table,
in your office, doesn't matter. It essentially is going to
take the guesswork out of estimating repairs. It is going
to dial in your repairs. It is going to allow
you to use anybody on your team, including your bookkeeper,
(46:47):
to send out and basically determine the cost of repairs
for a particular property. On top of that, it's going
to help you run your comps. It's going to help
you send your offers. It's going to help you justify,
which you talked about earlier. And last, but not least,
it's going to give you a scope of work which
nobody uses. Everybody should use them. But let's be honest,
(47:11):
it's time consuming and typically what happens is you hire
your contractor to tell you what that scope of work is.
But it's better, much better. Don would be the one
to second this as well as Matt here, but it's
much better to have a plan and go in with
that scope and then if your contractors sees something that
you missed, great, have a conversation about it.
Speaker 4 (47:32):
Gives you the confidence to close as well to make
your offer to get a signature.
Speaker 3 (47:40):
So yeah, I want I want to add too. I
mean I don't think that you're charging en f Matt. Honestly,
when you think about the fact that you have an
opportunity to use to utilize a toolet to negotiate better,
to get better deals. How much more money you going
to make there? That you are going to have less
room for error because your your rehab scope of work
and budget's going to be more on points. So you're
going to you're gonna make money there. You're going to
(48:02):
spend less time training your team, less brain damage, less
time on yourself. You know, figuring things out because the
numbers are there. When you take all that math, you
put it together and you look at what you're charging
for this product, you're practically giving it away, right. That's
something the people need to realize, so you really should
be charging more. I'm just gonna plug that in there.
Speaker 2 (48:19):
You know what, man, I've I appreciate that. I've heard
that a lot, and uh, you know, really I want
this to be to me. This is such a fundamental
you know, as far as even you know, starting out
in your business and you know, being able to get
this right. And I want it to be like a
gym membership, to be honest, where you know, you look
(48:40):
at this and go, well, shoot, man, if I can't
even afford this, then I might as well just get
out of the game. That's how I feel about, dude.
My Planet Fitness. I haven't been there in like six weeks,
but I'm not canceling because I feel like I've quit,
you know, by on my whole I'm myself, you know
what I mean. And that's that's what I want it
to be. I want people to be able to get
in this game, do it right. And you know what,
(49:01):
you don't need this massive you know CRM system when
you're starting out and you've only got a yellow pad
with you know, four properties on it, right, But you
do need basic tools to get into this business, and
I want this to be a basic tool. And it's
again it's something I use every day in my business.
I developed it for myself in my short sale business.
So that's I developed it for me because I use
(49:23):
it every day, and I'm just giving it to the
rest of the world as well and saying, hey, I
want you to use this too. I want you to
be successful at it, so appreciate it.
Speaker 1 (49:31):
Man. We got a couple questions here to wrap us
up here. So it looks like, let me see here,
looks like Casey was firing, I said, Casey here, Okay. Cool.
So Casey says, can you track projects, progress, updates, photos,
et cetera in the software?
Speaker 2 (49:46):
Okay, So that's something we talked about a little bit
earlier with you know, project management things like that photos.
We are adding. So so yes, that you know, we are,
we're bringing that, you know live, that's that's in the
hopper for you know, when you're in when you're in
software business, there's always those vision boards, right that's right,
and then every suggestion that comes along the way as well.
(50:07):
So right now, casey, I don't, I really am hesitating
to make this like a full project management tool. There
are other great systems out there for that, and they
do a really good job. Uh, and there's several of them.
There's I actually use co construct in my business, which
builder trend owns. It's a it's parent company. But that
(50:30):
gets into a whole different level. I'm really debating on
that because I want this tool to be something that
you look at that isn't just about rehabs or just
about you know. I want you to say, look, you're
getting comps and you're getting repair costs that nobody else
provides that you can trust, which is getting you to
a cash offer or whatever offer sub to you know seller,
(50:52):
you know seller carry seller finance, it's giving you all
of that, So that this is a tool that says
I've got everything I need to be able to get
my feet in this business. And also it's a tool
that seasoned guys all over the country like you guys
are using as well and trust it. So I just
I don't want to get too far off.
Speaker 1 (51:10):
No, I love it. Keep everybody.
Speaker 3 (51:11):
Yeah, everybody manages the rehabs differently too. When you try
to get into you know, rehab management software. I've I've
went down that rabbit hole with a few people in conversations,
and everybody does their business so much differently from each
other that it becomes, you know, it's it's hard to
build something that's gonna fit right right.
Speaker 2 (51:26):
Yeah, you can't. You can't introduce a gamp chart, you know,
like like builders use, you know, for for flow on
a calendar of of who's going to be there when
and who's next every single day. Not in our business.
Speaker 1 (51:40):
So you can. You can try, but it's not gonna
work out like you can anticipate. I love it, Matt says, Uh,
the offer calculator sounds amazing. Court's got a question. Is
there any way to use the software to send it
to other buyers if I don't want to do the
flip myself?
Speaker 2 (51:59):
Uh to say yes, so if you're wanting other people
to run it, yes, you can actually set up there's
a there's a tab in there for you to add
virtual assistance if that's what you're I hope perfect answer.
Speaker 1 (52:09):
For Another thing that you can do is you can
print your comps. You can print your repair estimates, and
you can you know, print the offer or just say,
you know, I'm looking to wholesale it. Here's what I'm
looking to get for it. You don't even necessarily need
the offer. So there are tools in here that you
can essentially utilize, or like Matt said, you can add
people into it, you know, directly. Great question. Yep, it
(52:31):
looks like we maybe have one or two more here.
So Scott says, I'm a reno manager for tech based
investor SFR three. I use a system like this every day.
Sounds like a great system, Matt. Thousands of line items
and a scope of work to come up with a budget.
And that's it. That's exactly what this is doing for
you guys.
Speaker 3 (52:49):
You know I want to I want to add something
for rehabs. We're at tail end of this, so we
get this in here. The most important change in my
business when I made my contractors do line item bids.
They don't do just a whole thirty thousand dollars for
the for the job. You buy the materials thirty times
with the job materials included. Because that leads even honest people,
it leads to a destruction and relationship because they say
I didn't have this in the bid and you say
(53:10):
we talked about it. It becomes a fight. Right line item
bids save all of that, and this is a great
tool for helping get that contractor there because it's a
lot of work to do line in a bid. A
lot of contractors don't want to do it. When you
can handle someone like this and you can say break
this out into line item how many lights, how many
door knobs, how many doors, and you have that there.
That really is a long way to you understanding what's
(53:31):
going into the project, them understanding what's going in the project,
and saving the relationship. It it comes back and says there's
twelve lights on like count of ten, and you see
there's only ten on the bid. It's an easy conversation
to say yes. If it's not there and you're distrusting,
like I have learned to be through the years, then
you're questioning their integrity and that creates animosity relationships. So
(53:51):
this tool is just for that aspect of a tool
that helps your contractor do a little less work in
their bidding process and being able to get you something
that's a little bit more clear. And you know to
the point it goes a long way as well.
Speaker 2 (54:04):
Right let me let me add that too, because that's
that's great your I'll speak aus of a general contractor
right now. Okay, man, if you don't care about your product,
I don't care about your product. If you don't you know,
if somebody's not showing up, I ain't shown up. You
know what I mean. We're responding whoever's yelling out us
right now. But that becomes personal relationship, just like your
(54:27):
private money lenders is a personal relationship, right Like these
are these these are relationships you form even with your contractors,
so that when you come into a house and you've
developed this relationship and they get to see what I
call a general industry standard. Okay, I don't have to
come in and say, whoa bro, what about that scratch
and the hardwood floors? Well, that wasn't in your your
(54:47):
scope of work. No no, no no, Like we're we're
getting away of the You would never if this was
your own house or your own flip leave that scratch
in the floor. So there are certain things that just
become relationship based that they get to know what you expect,
the level of flip that you're going to produce and
they begin to own it like you do. And that's
that's that's all built, you know, personal relationship, cause you're
(55:09):
never going to cover everything and who nobody wants to
have that fight you know about ten or twelve lights
because you know you're supposed to replace those last two lights.
You know, it's that's that's what it is.
Speaker 1 (55:22):
Yeah.
Speaker 3 (55:22):
I love that. If you don't care, they don't care. Right,
if you don't show up, they don't show up. Everybody's like, well,
why should I check my project once a week? Well
my contract is not showing up. But why should I
check my project once a week? Well, if you don't
show up, they're not going to show up. If you
don't care, they don't care. That is fantastic. I love
the way you put that.
Speaker 1 (55:38):
That.
Speaker 3 (55:39):
Anybody who reads the vehabs that needs to hear that.
Speaker 1 (55:42):
Yeah, that's a massive gold nugget.
Speaker 3 (55:43):
It's a massive gold nugget. You set the standard. What
is what is valuable to you is going to be
valuable to your team, and your team includes the vendors
that work with you.
Speaker 1 (55:52):
Yep, yep, I love it.
Speaker 2 (55:54):
Guys.
Speaker 1 (55:54):
Check out rehab Estimator Pro. You can actually save sixty
percent use link flip talk dot com, forward slash Estimate. Matt,
thank you so much for your time today. As pleasure. Yeah,
as always, man, it's a massive pleasure to get to
network with you and talk with you.
Speaker 5 (56:12):
Uh.
Speaker 1 (56:12):
You are the real deal when it comes to you know,
estimating repairs. The software you guys have built is helping
tons and tons of people. It's simplifying systems and processes
in people's businesses. And lastly, but not least, the mission
work that you are doing is incredible and I can't
wait to come be a part of that.
Speaker 2 (56:31):
It's gonna be great, man. Love it. Thank you guys
so much, Love you guys.
Speaker 4 (56:35):
All right, thanks guys, all right,
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.