One thing that’s really special about the wholesaling business is it does not discriminate. In other words, it does not matter if you’ve made significant mistakes in the past. As long as you are fearless, you work hard, you are willing to fail your way forward, and you employ the right strategies, you’ll enjoy massive and lasting success. Matt Vukovich’s story is a testament to this.
Matt is a hardworking wholesaler whose story is nothing short of inspiring. In this episode, he’ll share how he transcended major adversities and how he built a truly successful wholesaling business with hard work, courage, and the right strategies (including the use of MLS).
So if you’re looking forward to having more time for yourself, enjoying more freedom, creating an impact, and finding out how best you can use wholesaling to create the life of your dreams, this special episode is for you!
- Matt’s wholesaling journey in a nutshell—from closing his first ever deal to scaling his business
- Some of the frustrations he encountered
- What made him decide to hire someone
- The fear and the mental blocks he encountered and how he dealt with them
- Some of the wholesaling wins he has enjoyed
- The MLS related adjustment he created to his contracts
- How MLS helped him find deals he otherwise might have missed out on
- The tweaks he made that has helped him save a significant amount of time and money
- Piece of advice he’d give to those who are feeling overwhelmed
If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!
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Todd Toback: Hi, this is Todd Toback and welcome to this special edition of the Next Level wholesaling podcast. I’ve got a special guest today, Matt Vukovich from Indiana. Real, real, real special wholesaler, special person. Got a great story and today’s episode is going to blow your socks off. He’s going to tell your story basically starting from nothing, broken through major adversity, doing this business as a one man show and now starting to grow his business and scale it so that he can remove himself, increase his profits, increase his free time, impact other people, and really have true freedom and hopefully give you enough value so that you can do the same.
And that’s what this business is all about, right? It’s a tool, it’s a platform, it’s a machine that can enable you to do the things that you want to do, right? Wholesaling real estate is just the vehicle. So I’m real excited to have today’s guest, Matt Vukovich. How’s it going, Matt?
Matt Vukovich: Hey, Todd. Going great. Thanks for having me.
Todd Toback: Matt, I won’t delay us here really quick. Tell us your story, right? Tell us why you got into wholesaling, your background, maybe about your background into that first deal.
Matt Vukovich: No, absolutely Todd. Happy to share a little bit about myself. So I was born and raised in Kalamazoo, Michigan. Moved to Northern Indiana where I’m at right now – Elkhart, St. Joseph county area by South Bend – when I was younger, about 10 years old. Grew up there, great family life growing up. In high school and college I got involved in some of the wrong things, made a lot of bad choices, got involved pretty heavily into drugs and some crime and ended up spending about three years total in prison from that. I actually just got out in January of 2017 last year and wasn’t sure what to do. I had a criminal record history, wasn’t sure what kind of business I wanted to do or jobs. I started working a local factory. RV factories are pretty big here, so I was working full time about 50 to 60 hours a week.
I heard about wholesaling, I started reading some books and listening to the Wholesaling Inc podcast, which really got my gears turning on what was possible there. I went out, hand wrote about a hundred bandit signs, went and stuck them up around town, spent about seven hours doing that. Got a couple calls in, went to an appointment and ended up not being a deal. While I was out there, I drove the whole area looking for vacant houses, abandoned houses, typed up some letters on my computer, did another mailing. That ended up being where my very first deal came from. It’s been pretty much off to the races since then.
Todd Toback: I met you, I would say, probably around eight months ago. I remember you donated to my wife’s missions trip. By the way, thank you so much. I really appreciate that. We got to meet, it was at the Wholesaling Inc conference and I remember you being, you’re doing tons of deals by the way, right? Making it happen. Little overwhelmed.
Tell us a little bit about the journey from doing that first deal to then growing that business as a one to two man show. Take us through both the revenue that you’re generating and also maybe some of those frustrations, the pain points, that maybe some of the listeners are facing now.
Matt Vukovich: When I first started out, I was really motivated, enticed by the opportunity to have my own business and just make a ton of money and just work really hard with. I really enjoy doing that. The first year went really well, did a lot of deals, made a lot of money. But the more I received financially, I just realized that that wasn’t what I really wanted out of life.
I felt God was calling me to go into ministry, into prison ministry where I came from. I started to look at my business actually as a business, and I realized I was sitting in every seat. I was doing everything, I was overwhelmed. I was working in the factory from four in the morning to two in the afternoon, waking up before that to go through Podio and get emails sent out, staying up all night after work making calls. I realized I needed my business to serve myself if I was going to be able to go into ministry. I wanted to start looking at how to hire people, what a team looked like. And just kind of learn more about how to get involved in that.
Todd Toback: Now you’re there, right? You’re working both your job and you’re working your wholesaling business. You’ve got money coming in. At what point do… I’m assuming that you’re not at the factory anymore, is that correct?
Matt Vukovich: No, I left the factory about a couple months after I started wholesaling, I did that first deal. We did a few deals that first month and then pretty consistently four or five deals. We closed out the year, probably around 40 wholesale deals. This year we’re on pace for over a hundred wholesale deals. I left the factory last summer.
Todd Toback: Tell us a little bit about what made you decide to hire someone. You talked a little bit about your background story. Did you have any fears around hiring anybody? Were there any mental blocks or was it like, ‘Hey, I want to go into ministry and this is how I have to do it’?
Matt Vukovich: No, good question. There were definitely a lot of mental blocks. The biggest thing for me was probably giving up control of everything. I really felt like I could do each job better than anyone else could. That was the hardest thing for me to overcome, was seeing that there’s actually other people out there that’s their job and they’re only focused on that. They really do a better job than even I was doing because I was trying to do every single job at once. I was also somewhat paranoid from where I came from and my background. As far as sharing my story, I didn’t want people to judge me, my customers, my employees. I was kind of worried about being able to hire people given my past situation.
Todd Toback: By the way, that’s awesome. I mean this is really, really good content. Tell us a little bit about… You’re now on the Next Level, wholesaling student. Really enjoying having you, awesome attitude, hard worker. You’re like a dream client, being in here. Tell us a little bit about your three biggest takeaways and three biggest wins from the program that you’ve seen in your business, or maybe any other ones that you could share even if you learned them outside Next Level wholesale?
Matt Vukovich: I would say the three biggest things for me. Number one was with my title company, I’d been using the same title company forever since I got started. They were really with me from the beginning so I kind of felt some loyalty to them. As the deals mounted up and we had 10, 15, 20, 25 deals in escrow at one time on a regular basis, I had to do everything from calling the buyers and sellers, getting authorization forms, negotiating pay offs. I mean it was just an entire other job. I know in the program one of the modules talk about the expectations for your title company and what they should be and just hearing from some of the other people’s experience with their title company and switching, I realized this is something I really need to do.
I went and canvassed the area, and we only have four title companies in our area. I interviewed all of them, brought the expectations of what I wanted, and there was one title company that said, “this is exactly what we do. No problem. If you don’t want to hear from us from the time you turn in the contract until we send you the check, that’s what we’re going to do for you.” Number one, that’s been the biggest thing of the three. That’s awesome.
Todd Toback: I think we also, remember, we had breakfast and you talked about that last one, and I think it was, and I could be wrong, was this the one that’s not even in your area?
Matt Vukovich: They actually have offices, they’ve got a couple of local ones and they have other offices all around Indiana as well.
Todd Toback: That is awesome. I can tell you that’s probably, you know one of the things is we had one full time person, Matt, in our company and they were just dealing with payoffs and authorizations and tax claims. Then one day we had to let go of that person, unfortunately. I called up my title company. We were like, “Hey, we really need you to pick up the slack here.” My old title company did it for a week and all of a sudden we realized that we actually didn’t need that person.
And through kind of a twist of events, our old title company faded on us, and all of a sudden we found this new one who did even more than that. That was a huge game changer. Sometimes we think that we have to add all of these people – and by the way, I’m a big fan of having team members, – but it’s not as many as you think to get this thing fully automated.
We talked about a couple other strategies before we hopped on. Tell us a little bit about this retail deal that you just did.
Matt Vukovich: That was going to be my number two. MLS putting stuff on the retail market. I adjusted my contract, and all it says is, “seller gives buyer permission to put property on the multiple listing service”. That’s it. Run it by your attorney. I spoke with mine, he said that was completely fine. Talk to a local agent and their brokerage and they were all right as long as we listed it properly. We’re getting ready to put our third and fourth wholesale deals on the MLS right now, which is very exciting.
I had one deal, it was a relatively high dollar house. The amount they owed on the mortgage was probably about what a cash buyer would pay. This is a deal I normally would have passed on, but we put it under contract, threw it up on the MLS and it sold within 30 minutes at asking, about $20,000 over what I had it under contract for. After taking out realtor’s fees, commissions and everything, I’ll walk away with around $10,000 on a deal that would have just been passed on otherwise.
Todd Toback: I want to be clear, this is different than actually selling to a cash bar. You sold this to a retail buyer, is that correct?
Matt Vukovich: Originally the plan was, I don’t know how deep we want to go into this, but as far as the net proceeds agreement, was to sell it to a conventional buyer and then go back to the seller, do a net proceeds agreement. That way, even though it’s being sold to someone with a loan, I would still profit. That was the original plan to do, but we ended up actually getting an all cash offer so it worked out even better.
Todd Toback: The MLS flushed out a buyer that wasn’t even there, that you’d even know that was there, right?
Matt Vukovich: Yes.
Todd Toback: Awesome. You’ve got now two or three, which is killer. By the way, thank you for sharing Matt. Sometimes we think that we have to make these huge shifts in our business, right? We’re like, “Oh, I’ve got to hire 20 people and I’m going to go to 20 markets, and I’m going to add this new marketing channel.”
It seems like, with a couple little tweaks, you can add $10, $20, $30,000 to your profit pretty easy. I don’t want to put words in your mouth, but it looks like that’s what you’ve done here.
Matt Vukovich: No, absolutely. It’s been phenomenal. Just those two alone have saved me so much time and money beyond anything that the course costs. I think the third thing for me is just the relationships and the people. My accountability partner, and someone who’s became a really good friend of mine, Zach Booth, who’s in the program as well. Just building relationships with people and just being surrounded by a great inner circle of people who are out there killing it.
I was listening, I was reading a book and it said, now it actually was on a podcast, but it was talking about what great people do with their inner circles is they’re always looking to outgrow their inner circle and expand it to other people, because you can never exceed further than your inner circle. The great people are always trying to find new people who are doing bigger and better things in whatever aspect of life, spirituality, business, personal, and add those people to their inner circle to encourage them to grow.
Todd Toback: What podcast is that by the way? I’d love to link to that if you know offhand.
Matt Vukovich: It’s a Go-Giver podcast.
I know when I first started in real estate, I listened to tons and tons of podcasts on real estate, and books on real estate and it was all awesome. I felt like I got information overload and over the last few months, I know this sounds cliché, I’ve just really focused on learning and knowledge from one area. For me, this is Next Level, for someone else, it could be anything and cut out everything else.
I listened to the Go-Giver podcast and it is just phenomenal the stuff they have on there that can apply to everything. I think one of my favorite quotes that I heard today is, “greatness is the transition from success to significance”. It’s just moving past what you achieve, and what you can be financially, and doing something that makes a significant impact in the world. That’s what greatness is really about.
Todd Toback: That’s really great, man. One thing I can tell you is that I’m definitely reducing the amount of information that I take in. Ironically, this is a podcast. I’ve committed to follow one expert, one mentor in each core area of my life and that’s given me a lot less overwhelming, a lot more focus.
Matt Vukovich: No, absolutely. I couldn’t agree more.
Todd Toback: I want to keep this short and to the point. Any other tips or tricks or advice? Anyone who’s kind of, they’re successful, they’re doing deals, they’re feeling overwhelmed. What is the one piece of advice that you would give that person to let go and maybe expand?
Matt Vukovich: One great piece of advice I got from a phone call last week was to take a notebook around with me and write down everything that I was doing. When I started to do that, it made me realize all the little things that were taking up my time and energy that I don’t even think about. I would say, spend a day or a week and just write down all the different things you’re doing in your business and then find out how you can delegate those to someone else.
What I do personally every day is I have a voice recorder on my phone. Every time something comes up, or I need to do something, I’ll record a memo. The next morning I’ll sit down, I’ll listen to all my voice memos and I’ll say, “okay, so this can be… I’ll send this over to Marion, she’s my marketing manager. This will be for Lizzie, she’s my lead manager. This is going to be for Janet. I need her to make calls to these places.” Just taking those tasks and delegating them to other people. I think you gave me this advice actually, Todd, but if you don’t have anybody at all, find the top couple things that you absolutely hate doing that drain your time and energy and then hire someone to do those.
Todd Toback: That’s awesome advice. The notebook idea is great. I don’t actually do that. I think I’ve got things delegated pretty well, but I still do stuff that I need to delegate, so that’s awesome.
Matt Vukovich: It’s definitely quite a shock when you start writing some things down and realize how small they are, but you can only make so many decisions on a daily basis, so as many of those little minuscule decisions that you can cut out allows you to focus on the bigger issues.
Todd Toback: Awesome. Matt, thank you so much. I thought this was a great episode. Thought you gave a ton of value. I really appreciate you sharing your story and just thank you so much for your contribution to the podcast.
Matt Vukovich: Yeah, no, absolutely. Thanks for having me, Todd. I appreciate it.
Todd Toback: Thanks man.