Ep. 84: Impacting Communities Through Real Estate with Matthew Perry

Matthew Perry learned about real estate in school and started flipping houses as a college student. What started out as a means to make beer money, turned into a passion for making an impact through real estate. He focuses on projects that have a direct and tangible impact on communities, flipping roughly 50 projects throughout New England and about 100 wholesale transactions. On today’s episode, he shares how he got started without a plan and how he’s refined the process since. In addition, he shares how his work impacts communities and provides an overview of the Boston market.   Key Market Insights Fascinated by the different pockets of neighborhoods in Atlanta Conduct an intense 2-3 week market analysis Review the demographics of the area Spoke to 20-30 agents about what buyers where seeking Averaged about 80 projects while in college with partners Moved into buy and hold by purchasing in Raleigh, Charlotte, Richmond and Baltimore Were people moving into the city? If so, what part of the city? Look at the last two years to get a sense of the market Where are people looking and what do they want? Make sure your updates are based on what the market wants, not the picture in your head Look to make an impact on the community, not just a single house Find a way to renovate multiple houses in one area to earn trust and support of the community Find a way to renovate multiple houses in one area to earn trust and support of the community Boston is one of the top 5 most expensive markets for real estate Cost per square foot runs parallel to NY Boston is landlocked and you can ride a bike from one end of the city to the other in about 45 minutes Lots of “bedroom communities” where people live there only to sleep and commute into the city of Boston Matt’s farm area ranges from Boston to Wooster and Boston to Manchester, New Hampshire Boston’s growth starts Chelsea, Revere, Hingham, Weymouth Newer growth taking place in north shore – Gloucester, Ipswich     Bull’s Eye Tips: Winning Your Market: Understand the Submarket Tracking Market Changes: Talk to a lot of people Daily Habit: Talks about projects to his wife   Resources: Best Business Books: Principles of the Process by Edward Deming   Digital Resources Podio   Tweet This: “Look to make an impact on the community, not just a single house”   “Just shut up and do it”   Places to Grab a Bite: No Name Lobster Restaurant (Good luck finding it, “Kanye Shrug”)   Connect with Matthew: Email: [email protected]   Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.