How to Win More Trust – and Deals w/Matthew Hedstrom
When investing in real estate, we need to avoid making mistakes with ARV and repair value. How can we provide sellers with more realistic numbers, that both they and our contractors can trust? Is there a baseline we should be using to ensure more accuracy?
On this episode, co-creator of Rehab Estimator Pro, Matthew Hedstrom shares how the estimator tool streamlines transactions and can help us win more deals.
There are two things you should never mess up in a transaction: ARV and repair cost. –Matthew Hedstrom
Watch the Full Episode Here:
3 Things We Learned From Matthew Hedstrom
Offer more trustworthy numbers
Miscalculating ARV and repair value has a devastating impact on transactions, so we need a more trustworthy way to calculate numbers. Use a tool that offers a baseline estimate. This not only gives us accurate estimates for our contractors, but provides a more trustworthy offer to our sellers.
Remove the emotional attachment
Most sellers have an emotional attachment to their properties, and this can be a source of conflict when we explain what needs to be rehabilitated. By offering our sellers a baseline, streamlined checklist, we can remove the emotion and have them objectively decide what needs to be renovated themselves.
Speed up the transaction
If we have a baseline estimate for ARVs and repair value, we can speed up the transaction process. By referring to a set checklist, we can provide sellers with an offer in under 15 minutes, without ever taking out a tape measure. Plus, if we bring a battery-operated printer, we can give sellers a contract before even leaving the property.
As real estate investors, the biggest mistake we can run into is a miscalculation of cost. To avoid this from happening, we need to refer to set, almost standardized numbers. This helps us with our own calculations, but also makes us more trustworthy in the eyes of our sellers. By adhering to a baseline, we ensure accuracy while putting ourselves in the running to win more deals.
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