How to Maximize Profit and Leads

John Harcar (00:00.971)
Hey guys, welcome back to the show. I’m John Harcar and I’m here today with Matt Williams. And what we’re going to be talking about is maximizing deals and our profit and maximizing leads. Remember guys, at Investor Fuel, we help real estate investors, service providers, and really all real estate entrepreneurs, 2 5X your business. And we do that by providing tools and resources to build the business you want and live that life you want to live. So Matt, welcome to our show.

Matt Williams (00:27.862)
Yeah, thanks for having me, John.

John Harcar (00:29.473)
Yeah, good. I’m definitely excited to talk about maximizing profits and I think maximizing leads more. I think that’s super important because that’s the front end of your funnel. But before we get into a lot of that stuff and get into the weeds, tell us a little bit about yourself, right? How you got into real estate, how you got here, etc.

Matt Williams (00:46.19)
Right, yeah, well when I got out of the army, I got into real estate in 1999. I started out as a mortgage broker and that transitioned into doing investing, flipping houses, even starting to build some houses, did a variety of things in real estate. 2008 hit and my business slowed way, way, way down. I wouldn’t say that we stopped entirely, but just it was a very slow time there for a little bit. And then,

John Harcar (01:11.361)
pull back on the reins a lot. Mm-hmm.

Matt Williams (01:13.102)
Yeah, really pull back on the reins. That’s exactly right. And then I had the opportunity to get into the seminar space, the real estate seminar space, real estate education, coaching, training, and was asked to be a three day speaker for a variety of brands that I’m sure your audience has all heard of at one point or another. did that. So traveled all over the US and even Canada a lot. Did that for about 11 years.

And at the same time have my own real estate investment business that I was running on a relatively small scale primarily focused on fix and flip and then Finally because I’m a single dad decided the the life of being on the road as much as I love being on stage I love sharing my knowledge with aspiring and experienced real estate investors alike. I loved every single aspect of that

John Harcar (01:48.427)
Okay.

Matt Williams (02:05.624)
But, it allowed me to build a huge nationwide network too of colleagues, so that was great. But the real big thing was that I needed to be home. so I continued to operate my own real estate business, kind of stopped the speaking. I did a few gigs over the next couple years, a couple times a year, very rarely though. And then, and then a,

John Harcar (02:10.079)
Yeah.

John Harcar (02:27.132)
huh.

Matt Williams (02:32.654)
A mentor of mine named Pat Precourt. Have you ever heard of Patrick Precourt?

John Harcar (02:36.694)
Pat Precourt is one of our other members of our investor film mastermind.

Matt Williams (02:40.588)
Yeah, so Pat Precourt and I were talking about my business and the direction I was heading. I wasn’t really having a great time with and by great time, I just mean having a lot of fun with my own business. And so ultimately, Pat said, you know, there’s a guy in Seattle named Victor Rybchuk and he is looking for a killer operator because their business has just exploded. You know, he had been in business for over 10 years.

John Harcar (02:54.838)
Yep.

John Harcar (03:06.949)
huh.

Matt Williams (03:09.58)
and their business had just exploded. And so he said, Matt, I really think that there could be a unique fit here for you to join Victor and really help him continue to go to the next level and the next plateau with his business. And so he introduced Victor and I, we met for months and talked for months and then ultimately I joined Victor and became a COO and have been with them now for the last year and a half.

John Harcar (03:33.333)
That is, that’s awesome. Sorry. First and foremost, before anything, thank you for your service. And yeah, Pat is an incredible dude. I’ve talked to him several times. He spoke to our groups a lot. He’s in the group. So then that’s awesome. And I love that story. So what were some of the challenges I think that you ran into when you first started getting into the business? Like what are the things that you just said, you know, hit walls?

Matt Williams (03:38.389)
yeah.

Matt Williams (03:42.349)
He’s my boy.

Matt Williams (04:03.726)
Well, I always blamed access to capital, which now as I look back and all those years I spoke, I am embarrassed to say that, but I always thought that that was a big one. And then the other biggie was balancing, when I first started out, I would hire a general contractor, and they’d hire out the subs to get the projects done. Moving forward as our business evolved, finally, I always tell people that I…

John Harcar (04:14.273)
Mm-hmm.

John Harcar (04:24.353)
Sure.

Matt Williams (04:29.6)
I launched a real estate investment company and I ended up owning a construction company. And so we ended up hiring just a few guys initially just to do all the demo. Cause we had enough projects going that we could move them from house to house to house and just doing the demo, ripping everything out, you know, put just park a dumpster in front of the house. And then we bought a truck. Then we bought a dump trailer. And so we’re just, you know, we would just keep the guys moving, doing demo from house to house to house.

John Harcar (04:34.065)
Right?

John Harcar (04:44.235)
Mm-hmm.

Matt Williams (04:56.684)
Well, then what was happening is our projects were sitting for too long once the demo was done because the contractors I was waiting on. And so finally, I just said, forget this. And in the state of Oregon, where I was doing most of my business, if you flip more than one house a year, you have to be a licensed general contractor anyways. Yeah, it’s just a unique rule there in Oregon. So if I already have my general contractor’s license, I was already licensed, I was already insured, I was already bonded. Then why not just keep growing my own?

John Harcar (05:01.12)
Mmm.

John Harcar (05:12.487)
okay. Yeah, I’ve never heard of that.

Matt Williams (05:25.708)
you know, company here and yeah, we hired at our biggest point, we had 14 guys, including one project manager and yeah, that’s what we did. So it was just the slow learning of trying to figure out how am I going to scale this up? And that was the other thing I noticed. And that was a big learning curve for me before joining Victor. Scalability was a real thing and a real challenge for me.

John Harcar (05:26.507)
Don’t hit.

John Harcar (05:31.947)
Wow. Okay.

John Harcar (05:41.782)
Right.

John Harcar (05:47.721)
Mm-hmm. Yeah. Doing it right is the big thing. mean, people can hire, you can hire an ad and add all this stuff, but if you’re not doing it right, it’s just not gonna be profitable for you. So when you went on the speaking tour, and there’s been a couple times when I’ve spoke on some stages, and I I couldn’t do it as much as you just said you did it. That’s nuts, man. That’s for me, I, no, no, no, no, And it’s not the fear, it’s just.

Matt Williams (06:00.598)
Yeah, you’re exactly right.

Mm-hmm.

Matt Williams (06:11.799)
Yeah.

John Harcar (06:16.446)
What did you normally speak about? Like what is some of the topics that you, you traditionally, you know, they brought you in to speak about specifically.

Matt Williams (06:23.074)
Well, so I was the three day speaker. it was a it was quite a marathon where you’re speaking, you know, we’d kick off the event at nine in the morning and go tell five or six at night, three Friday, Saturday, Sunday, every single place, every single city Friday, Saturday, Sunday. And so, you know, being the main stage speaker, I was on stage eight hours a day, nine hours a day for three straight days. So the.

John Harcar (06:37.876)
Jeez.

John Harcar (06:45.845)
Yeah.

Matt Williams (06:47.212)
The content ran the full gamut of how you determine your maximum allowable offer, how you look at and evaluate comps, different marketing strategies and approaches, how we work out our budget in our scope of work for a rehab deal, how you wholesale sandwich lease options. I mean, over three days I would cover everything. yeah, flipping the paper.

John Harcar (06:55.006)
Okay.

John Harcar (07:04.417)
Sandwich least options too, huh? Okay, it’s been a while since I’ve heard that term the sandwich least option that was Joe. What’s his name? Wasn’t it? What’s the guy who who always coached on that? I couldn’t remain but anyways, okay, so you kind of did you know, in sense soup to nuts right from from start to finish. So it was a big three day coaching program. Were you

Matt Williams (07:13.996)
Hmm, I don’t know

Matt Williams (07:20.394)
Everything. Yes. It’s exactly right. Yeah, yeah, it was big and it funneled into other coaching like one of the one of the folks I spoke for the most was Tarek and Christina. Well, at the time it was Tarek and Christina Al Moussa before the divorce and everything. But yeah.

John Harcar (07:39.005)
Sure. Right. Okay. So you were just basically trying to get clients for them into their coaching program.

Matt Williams (07:45.932)
There would be a team of people that would travel with me and work at those events as well, they would enroll people into those environments. Yes.

John Harcar (07:50.646)
Got it.

John Harcar (07:55.385)
The table people. The table people. If you guys have been to some of those shows, you know the table people. Okay, so you were doing this and you’re a dad, right? You have these kids at home and you just, you’re traveling too much.

Matt Williams (08:03.469)
Yes.

Yeah.

Matt Williams (08:10.678)
Yeah, way too much was on the road too much needed to be home more as I was missing a lot of games and birthdays and events and yeah, just needed to be home.

John Harcar (08:17.302)
Yeah.

So how did you transition that full stop of stage life to getting back into, I assume you’re probably doing flips again?

Matt Williams (08:28.214)
I was, and we were doing flips. I still have my business going during that entire duration. Yeah, and that’s the other interesting thing, John, the dirty little secret I never told anybody, but I’ve been starting to be pretty transparent about it now. I kept a lot of my real estate investment business and the deals that I had going and was buying and selling and flipping. I wasn’t keeping that going because we were having a super amount of success and we were making so much money with it. I was doing just to maintain my credibility when I was on stage.

John Harcar (08:31.426)
okay, so you had a kib, okay, okay, okay.

John Harcar (08:56.597)
Yes, I…

Matt Williams (08:56.824)
so that at any given time I could say, look, here’s some projects we’re doing right now. That’s the only reason I was doing it. Yeah. And so.

John Harcar (09:01.311)
Yeah, that’s huge. That’s huge. Because you get guys on stage like, does he really do it?

Matt Williams (09:08.674)
Yeah, exactly. And so I always had the social proof to prove that, yes, I’m in this business. I still actively do this business, unlike so many people you find in that space. And so that’s why I was doing it. Now, the problem with that is then when I make the decision to stop speaking altogether, which is a loss of a significant amount of revenue, by the way, when you decide to do that, now suddenly you have a business that’s not built to sustain you, but now you need it to sustain you, which was no big deal.

John Harcar (09:15.028)
Okay.

John Harcar (09:26.699)
Yeah.

John Harcar (09:35.048)
Mhm.

Matt Williams (09:36.654)
because I had a portfolio of rental properties. I had a bunch of things that I had just kind of pieced together that sustained me for a while. But at a certain point, and that’s where I called Pat, I was like, Pat, I kind of need to figure out what my next plan is going to be. Either I need to just really dig in and explode my own business, which in my 40s, I don’t know if I feel like really doing that, or I need to go back to speaking, or I need to decide what I’m going to do. And that’s when he connected me with Victor.

John Harcar (09:43.136)
Sure.

John Harcar (09:58.827)
Yeah.

John Harcar (10:04.723)
Mm-hmm. Sweet. So are you still doing flips on the side or are you and Victor just all melded your business together?

Matt Williams (10:10.894)
No, everything, even my own deals that I get out of loyalty to Victor and our company and so that there’s no conflict of any interest, any of my own deals that I would even get, we keep within our company walls. yeah, so, and we do some flips, but not nearly at the scale or the types that I used to do. I used to do very large scale projects where, with two to three, $350,000 budgets, just on the rehab.

John Harcar (10:20.447)
Yeah, full transparency.

John Harcar (10:30.817)
Yeah.

John Harcar (10:37.971)
Are you focusing more on wholesale now or you just don’t have the cash to flip? What’s the block there? Yeah, yeah.

Matt Williams (10:41.172)
Yeah, no, it’s not a cash thing. It’s all about scalability again. So our company primarily focuses on wholesaling and novations. We do a little bit of things, what we call like, whole tailing, or we do fix and flip. And then of course we do buy and holds as well.

John Harcar (10:50.943)
No patience, okay?

Mm-hmm.

John Harcar (10:59.329)
Cool, okay. What are some of the mistakes that you maybe ran, or you made, or maybe you see people make when they’re getting into the wholesaling, you know, when they’re looking at properties, and they want to get into the business?

Matt Williams (11:13.326)
That’s a great question.

Well, one of the things this one’s going to sound simple. This one’s going to sound so simple. But I and I said it for years when I was a speaker and there goes my dog barking. That’s great for a podcast. I say it as I said it as a speaker and it’s been a policy and an experience that I brought into now operating this company. Legacy. When you’re selling a property, take

John Harcar (11:29.323)
That’s all good, we can edit it out.

Matt Williams (11:45.934)
the first offer. For years, oh yeah. Now look, there, and this is the other thing, are there exceptions to every rule? Of course there is. You know, of course there are. Are there times that you kick yourself and say, ah gosh, we could have maybe made a little bit more? Of course there are. But history has told me, for 25 years, think about it, I got started in 1999. So 25 years has told me,

John Harcar (11:48.703)
Really?

John Harcar (11:59.872)
bright.

John Harcar (12:10.613)
You got the experience behind you.

Matt Williams (12:14.338)
that I have been burned more often than not by not accepting, say, the first offer. And I don’t care what your dispo strategy is, whether you fix and flip the property, whether you’re wholesaling and you think you’re gonna get a bigger assignment fee because you had a lot of people that were initially interested, take the first solid offer that you get.

John Harcar (12:33.098)
That’s important guys, listen, solid offer. You’re not taking like 20 cents on the dollar for something, he puts some work in, it’s a solid offer, but yeah, I agree with that.

Matt Williams (12:43.192)
Yeah, there’s still gotta be a certain amount of viability to it as well, right? But yeah, take the first offer. All too often I’ve seen too many real estate investors, you know, get a, like whether you’re wholesaling or you’re fix and flipping and you’ve got it listed with a realtor on the MLS. And there’s a lot of interest initially, there’s a handful of offers and they’re all okay and you’re gonna make some money and everything, but you think, you know what, we’ve had so much initial interest in this property.

John Harcar (12:45.739)
Sure. Yeah. Yeah.

Matt Williams (13:11.662)
Let’s just hold out. I think we can make a lot more on this that that does happen from time to time But experience has taught me that that rarely happens and so consequently I’ve gotten bit on that especially around 2008 I got bit really hard where 2000 even going into 2009 2010 where there were properties I really wish if I had just accepted that first offer We would have moved on by now and we would have you know made some money on it So learn that lesson the hard way the other

John Harcar (13:13.855)
I think we’re gonna get 30 grand more.

John Harcar (13:36.299)
Yeah.

John Harcar (13:40.245)
What about before they even got the property though? Like what if they’re just like literally, you know, just dipping their toes in the water? What are the mistakes that Jets you see getting into maybe wrong, you know, underwriting, stuff like that?

Matt Williams (13:54.006)
Yeah, failure and underwriting a lot. So one of the big things that I see, and I continue to train people on, is evaluating your comps. And it’s interesting to me because when people are evaluating comps, they act, a lot of the people that I have coached over the years, they act as if it’s some sort of competition to get as high as number as they possibly can, whether it’s an as is value or an ARV value. And like,

John Harcar (14:19.745)
Right.

Matt Williams (14:21.89)
this is not a competition, okay? We’re trying to figure out what the accurate value is, whether again, whether it’s as is or ARV, depending on what your strategy is. And so this is not a competition. We’re not trying to get a higher number simply to justify the offer that we think the seller is going to accept. And so I see that all too often, people getting into deals where they got in at the right price point or they’re upside down, especially if they move all the way through to closing and they learn that they’re upside down because

John Harcar (14:28.297)
Mm-hmm. Mm-hmm.

John Harcar (14:39.477)
Yeah.

Matt Williams (14:51.146)
Like, look, you just didn’t accurately assess the comps and really look at the data. You ignored data that was right in front of your face and you cherry picked comps. So I see that a lot in an underwriting process, the cherry picking of comps. The other thing is people drastically underestimate the rehab budget. Drastically.

John Harcar (15:10.913)
They don’t know what rehab budgets are.

Matt Williams (15:12.812)
Well, yeah, it usually stems because they don’t have the experience necessary to accurately determine a rehab budget or they’ve listened to the wrong. Shall I say gurus that say, hey, I have a simple spreadsheet that we used back in 1999. know, I have a simple spreadsheet that you can use. Yeah. And so, yeah, the most of the resources I’ve found that people lean on that.

John Harcar (15:24.063)
Mmm.

John Harcar (15:28.609)
Good is this amount good is five to seven. Yeah

Matt Williams (15:40.52)
even God forbid they even paid money for, not God forbid, I mean, there’s good resources and bad resources out there, but they are just drastically and very inaccurately undervaluating the rehab budget. That’s another big thing in underwriting I see.

John Harcar (15:58.603)
How do you propose someone learn how to do it the right way? Like what are the best resources that if I, if I’ve never walked a property, I don’t know what it costs to flip a house. How do I find out the best numbers to use? You know, I mean.

Matt Williams (16:14.712)
John, that’s a tough question to ask, because I haven’t found a resource to me that, and it’s not like I’ve been on an active hunt for it, but I can tell you when I was in the seminar space, the resources that I saw were, they could have used some polishing. I’m trying to figure out the nicest way to say that. They could use some refinement. So I can’t say based on my experience there that I would know where to look.

John Harcar (16:26.689)
Sure.

John Harcar (16:37.087)
Right.

Matt Williams (16:44.878)
The other resources that I’ve seen have not impressed me. We feel that we personally in our business do a very accurate job, but that’s based off of years of experience. Yeah.

John Harcar (16:55.271)
Yeah, I was going to ask how do you guys evaluate a property? Like what do you use as a general framework?

Matt Williams (17:01.43)
Okay, so we have two things, because we have a whole acquisitions team, right? So there’s a difference in the way that Victor and I underwrite a deal versus how we train our acquisitions team to do it. For our acquisitions team, we give them our own customized built out underwriting calculator. And based on a one to 10, which again, I know is a little hit and miss, but based on the condition of a whole slew of line items,

John Harcar (17:29.313)
Okay.

Matt Williams (17:29.736)
it will then automatically calculate based on the answers to those questions what that rehab budget’s going to be. We feel really solid about it. Now I personally don’t use it because based, and nor does Victor that much, because based on our experience and our years in the business, we feel like we can pretty accurately come to a very specific number on the rehab budget. But for our acquisitions team, we make them use the calculator, the underwriting calculator.

John Harcar (17:36.545)
Okay.

John Harcar (17:56.353)
Yeah, well, it makes it easier for them and they don’t have the experience that you guys do. So you join up and you link up with Victor. How is that transition to working with a partner? what? I mean, I know that if someone’s out there looking for a partner, know, yeah, you want to be somebody you work with or you know, or you’re comfortable with. I mean, what are the things that are the most important, especially in a business relationship?

Matt Williams (18:00.748)
Yeah, that’s exactly right. Yeah.

Matt Williams (18:20.374)
Yeah. Yeah. So a couple aspects to that. The first is this. This was a unique situation for me because for the better part of 25 years, I’ve always been the person in charge. In my real estate business, I was always self-employed. In fact, ever since I got out of the army, I’ve been self-employed my entire life. And so actually being the person who’s not

John Harcar (18:36.289)
Mmm.

John Harcar (18:43.072)
Yeah.

Matt Williams (18:46.89)
Ultimately the CEO and the ultimate majority member or holder, you know owner of a company That has been a big shift for me and I thought it would be way more challenging than it was in fact if anything I I’ve told a number of people this John that for me I thought it was gonna be a huge challenge not being the ultimate final authority and decision-maker and it’s actually turned out to be a blessing a huge huge blessing for me way less stress

John Harcar (19:13.345)
Less stress. Less stress. 100%. 100%. And I’m sorry, go ahead.

Matt Williams (19:16.898)
Yep, way less stress. well, the other thing to answer your question, John, the other part of it is, and this is what took Victor and I such a long time to finally make the decision to do this, which ultimately was Victor’s decision. I had made mine up pretty quick. We had to make sure that our core values were in perfect alignment, that our personalities were in alignment, that our strengths and weaknesses were in alignment.

John Harcar (19:32.769)
Mm-hmm.

John Harcar (19:36.118)
Yes.

Matt Williams (19:43.436)
Victor and I have very, very different personalities. Now, you know, if you do the predictive index, we’re still both captains, right? but, you know, whereas I tend to be a lot rougher with people, a lot more direct, I don’t sugarcoat anything. And I also am a huge goofball too. I’m to a point where it’s sometimes inappropriate. Victor is the other way around. Victor is very straight laced. He remains calm.

John Harcar (19:57.345)
Mm-hmm. Mm-hmm.

John Harcar (20:04.552)
Matt Williams (20:12.088)
He is very delicate in how he deals and coaches people and trains our team and and or if there’s kind of for lack of a better word corrective action that we’re taking with the team a member of our team, you know, he’s a lot more Cautious about their feelings and all that, know, so I always make this comparison if he is Have you ever seen the movie? with Mel Gibson and We were soldiers. Have you ever seen that movie? All right

John Harcar (20:16.459)
Mm-hmm.

John Harcar (20:22.463)
Okay.

John Harcar (20:38.023)
that’s one of my favorite movies. heck yeah.

Matt Williams (20:39.862)
So Victor is Mel Gibson and I am his Sergeant Major there Sam Elliott. That’s that’s the way we look at those two roles. Yeah.

John Harcar (20:45.257)
Yeah, Sam Elliott.

Okay. and yeah, and, and that’s very important. think two things, especially with, you know, partner, you know, first of all, it’s communication, right? Is be having that openness and then two, it’s the trust, right? It’s to, to know that, that you have my back, my weaknesses are your weaknesses. Your strengths are my strengths, right? And, work it together is what makes it succeed. Right? No, I love it.

Matt Williams (21:12.928)
And Victor knows that Victor knows that I have his back at all times. I know that he has mine. And, you know, so there is a huge trust that’s been built. I mean, think about it a year and a half is really not that long. But we have built up a very strong relationship where there is a tremendous amount of trust. We knew our core values aligned from the beginning. And so that’s made when we go through the decision process, hiring process, anything.

John Harcar (21:25.249)
Mm-mm. No.

Matt Williams (21:39.882)
It makes it really streamlined because our values in our our core values are in the same place So we’re coming at it from the same perspective. But yeah, so it it’s it’s been a an unbelievable relationship you know victor’s done a number of podcasts, too. He just did one with brandon bateman and everything, you know if you get Yeah, so if you get to know yeah, we we pay bateman collective a lot of money

John Harcar (21:45.482)
Yeah.

That’s huge.

John Harcar (21:57.585)
yeah, Brandon’s part of our group too.

John Harcar (22:03.873)
They do good though. They’re awesome. mean, yeah, I’ve had nothing but good things I’ve heard about them. what does your team look like now? I mean, like, what is it? How many folks you got? What kind of deal volume you doing, et cetera?

Matt Williams (22:08.0)
Our results have been good. Our results have been good. Yeah. So yeah anyways yeah.

Matt Williams (22:19.15)
Yeah, so, you know, we are on track again this year to be in that hundred and forty range on deal volume per year. And that’s every type, novations, wholesale, hotels, fix and flip. I would say the bulk of our business, though, is novations and wholesale and kind of probably 60 percent, 65 percent novation and.

John Harcar (22:29.633)
Let’s go, let’s go.

John Harcar (22:46.977)
Mmm.

Matt Williams (22:47.15)
30, yeah, 40 to 35 % a whole tail or excuse me, wholesale.

John Harcar (22:50.963)
Okay, what’s your average length of novation?

Matt Williams (22:53.934)
Yeah, we try and keep it to 90 days. Yeah

John Harcar (22:57.153)
Okay, okay, right on.

Matt Williams (22:59.67)
And then, but the turn time obviously on our wholesale is much shorter. It’s more like 30 days. Yeah.

John Harcar (23:03.443)
Sure. How big is your team?

Matt Williams (23:06.786)
Okay, so team size, we just added to it again. We brought people back on board that we had cut loose last year, and that was our cold texting team. And so we have three in there, and then we have right now two HBAs, or setters, if you will, in our acquisitions team. We have three director of sales or acquisition specialists. We have director investments. We have

John Harcar (23:17.206)
Huh.

Matt Williams (23:36.49)
Our transactions team two girls in our transactions team, although we’re getting ready to hire another one in that department and then our Dispo department as well. So altogether, I think we’re. In fact, we’re actually flying a guy up from Arkansas next week to make another. We’re aggressively hiring right now. So right now I think we’re at 15. Yeah, and our IT guy too. Forgot, yeah.

John Harcar (23:41.824)
Bye.

Sweet.

John Harcar (23:55.113)
Right? You say you’re bringing out your br- Okay, end of your hiring acquisitions, guys.

Matt Williams (24:00.972)
We’re hiring in our acquisitions team and then we’re getting ready to bring to hire another transaction coordinator and the next hire after that will be director of investments, which is in charge of our transactions and Dispo.

John Harcar (24:08.821)
Nice.

John Harcar (24:12.673)
Nice. Well, if anybody’s listening here and anybody’s up in your watch scenario, need a job, good acquisitions, reach out. That’s awesome. So what kind of advice would you want to leave somebody with, right? If they’re getting into the business, what’s the number one thing they need to do or look out for?

Matt Williams (24:35.35)
One of the things that they absolutely need to identify is the idea that you’re gonna be great at everything is a fallacy. The idea that you’re going to have this big menu of areas of the business that you’re gonna specialize in, that’s a fallacy. Figure out what your identity is gonna be. Figure out what you are best at and then just do that. If I may, then as a side story.

John Harcar (24:52.459)
Yeah.

John Harcar (24:58.411)
Yeah.

Matt Williams (25:03.914)
So we do some fix and flips. Victor, this has been a point of debate over the last year and a half for Victor and I. Victor really, really wants to augment and he even brought on a new project leader supervisor for our rehab deals. He really wants to take a lot more of the deals that we’re getting under contract and do a lot more fix and flips. The idea or the thought is that we are leaving profit, potential profit on the table. Okay. And while I understand that my message

John Harcar (25:06.144)
Mm-hmm.

John Harcar (25:29.345)
Sure.

Matt Williams (25:33.652)
And fortunately, he’s just been super receptive and agreed. But my message has been, look, we have these things that we’re super great at. Let’s stick with that. And yeah, let’s stay in our lane and do what we are built at and what we are and what we’re exceptional. Let’s continue to scale and grow the things that we’re exceptional at and not worry about the things we’re not currently built for. And by the way, are very hard to scale anyways. So.

John Harcar (25:44.513)
sticking to your lane.

John Harcar (25:54.305)
Mm-hmm.

John Harcar (26:00.053)
Yeah, right? Exactly.

Matt Williams (26:01.198)
Which which is which is what you know some of the experience I brought to the table before I even joined them That was a big learning thing, you know, so it kind of ties in the beginning of our conversation I bring a little bit of that scar tissue to the table and say look I understand where you’re wanting to go, but let’s just scale what we’re good at So for any new investor, I would be like look, I don’t care what you’re gonna focus on I don’t care if you want to just wholesale or you you want to

John Harcar (26:07.401)
Yeah, yeah.

Matt Williams (26:25.986)
fix and flip properties, or you just wanna build up a rental income and get a bunch of turnkey property. I don’t care what it is that you’re gonna do, but do that thing and do it well before you ever consider doing anything else.

John Harcar (26:36.661)
Yeah, that’s great great advice, you know, because a lot of people go and think they’re like you said they see all these shiny objects I can do this I can do this I can do this Well, if you’re good at everything, but you’re you’re you what’s the saying? Master of everything good at nothing or something like that Or good at something master of nothing good at everything master of nothing But that’s a good nut. That’s what good nuggets and if you guys got some other good information here, you know, hope you did Matt I appreciate you joining us

Matt Williams (26:43.566)
Yeah.

Matt Williams (26:54.115)
Well, yeah, yeah, exactly. Yeah.

John Harcar (27:06.665)
If anybody wants to get a hold of you and talk about business, maybe they are a wholesaler in the Washington area or anywhere and they have a house for you guys, how do they reach out?

Matt Williams (27:15.424)
Yeah, best things. First of all, I love getting more following on my social media on Instagram. It’s Matt Williams, R.E.I. for real estate investing or real estate investors. So Matt Williams, R.E.I. on Tick Tock. It’s Williams Hang on. Well, just look for Matt Williams on Tick Tock. I’m developing a little bit of a following there. Pretty good following there. So. Yeah, right. And then I don’t mind people emailing me and that’s Matt at legacy onset dot com.

John Harcar (27:35.859)
Well, I think you sent me those links too so I can put them on the show notes.

John Harcar (27:45.867)
Perfect. All right, guys, I hope you wrote that down. And I hope you guys like, I hope you learned some stuff like I did. You know, it was a good conversation. Matt, you and I could probably talk for another two hours if we had the opportunity. And we can always do another one. every guy, everyone, I hope you guys enjoyed this episode and we look forward to seeing you on the next one. Cheers.

Matt Williams (27:55.201)
it’d be fine. Yeah.