00;00;00;00 - 00;00;19;16

David Richter

Hey, this is David Richter, and this is the first art podcast. You have Matt Camp on today. If you want to get more deals in your pipeline, please listen to this episode. Matt goes into what he does and what he uses and where he's what he's a part of, and how it's helped him get actual deals in the door where he's closing them, selling them.

00;00;19;19 - 00;00;37;18

David Richter

So this is a good episode if you want to get more deals in your pipeline. Hey, welcome back to the First Hour I podcast, Matt Camp. I'm super excited to talk to you because we've we've done lots of things over the years and talked many times. And, you know, like you're over there at the machine doing lots of cool things.

00;00;37;25 - 00;00;48;26

David Richter

And now I want you to talk. Matt, I heard about your profit first journey and I want you to be able to share that today. So that's where, that's where we're going to be going today, if you're listening. But, Matt, thank you so much for being on the podcast.

00;00;48;29 - 00;01;00;05

Matt Kamp

Yeah, David. Appreciate you. Me I'm mean, always really enjoyed doing this with you. I know you come on. For our masterclasses. You've been on a handful of those for sure with our community. So I always appreciate your time and, you know, happy to jump on YouTube.

00;01;00;08 - 00;01;11;05

David Richter

Yeah. Cool. What? That's where. Let's dive. Right into it. Like, how did you get into the real estate portion? And I guess I also want to know that, like, how did you link up a deal machine to.

00;01;11;08 - 00;01;27;28

Matt Kamp

Yeah, it's it's a it's a great story. I mean, we, you know, so the guys who start a deal machine, it's funny, we, we all grew up together. So, a lot of those guys, the two co-founders, you know, if you view the early, employees and things, all grew up in Saint Louis together. So I've known them forever.

00;01;28;03 - 00;01;51;04

Matt Kamp

We've done past, we we all kind of got into entrepreneurship together in college. We did, like, student pitch competitions together. We had, you know, when we were going through college, the, iPhone and mobile was brand new. So it was very much like, oh, hey, here's a whole new world of technology that's coming to to, you know, a whole new frontier for, for, for opportunity for people to figure out, like, what are we going to do with this thing?

00;01;51;04 - 00;02;12;24

Matt Kamp

Right. So, you know, we ended up to, you know, giving quite a few ideas around mobile together and just got into into tech together. You know, while that was also happening, I had also grew up, reading, you know, I read Rich dad, Poor Dad towards the end of, of, of college there, my love, listening to Bigger pockets, you know, towards nearing towards that time frame as well.

00;02;12;27 - 00;02;37;13

Matt Kamp

I was meeting more and more people in the real estate world and realized like, hey, no matter what I do, this real estate thing I should get into at some point, like, this is amazing for long term wealth building. Right. And so, I kind of had both of those interest in same time. With the machine, those guys, they actually had started a couple other businesses before, you know, I, I've linked up with them a couple different times, like we did a startup together right after college.

00;02;37;16 - 00;02;54;23

Matt Kamp

They split off eventually and started the machine like 2016. You know, again, they were guys. I mean, they were my wedding party, like two best friends and, you know, started that and always had heard updates about it. And they got to the point where they're like, yeah, we're doubling down on, we've got something here. Like, we we're, we're solving problems for people.

00;02;54;23 - 00;03;03;10

Matt Kamp

We love what we're doing. And if you want to join us. And so I joined 2020, been here almost five years now. And it's, it's been a blast, man. I really love it.

00;03;03;10 - 00;03;18;09

David Richter

So that's that's very cool. So tell me about, though, how you got into Rich dad, Poor Dad in college or like that, did you have parents that, like, did that for your friends or did you, would you just pick that up randomly at a bookstore? Like, what happened to get, even that interest?

00;03;18;16 - 00;03;40;22

Matt Kamp

Yeah. The earliest influence I have, my my my parents were encouraging, like my dad especially was always encouraging of, of like, any interest I had in business and things. You know, I, I know, I actually had I've mentioned this, before, but I had, a football coach in middle school who gave me a book called The Richest Man in Babylon, which, you know, it's short book, more of, like a parable, really?

00;03;40;25 - 00;04;05;01

Matt Kamp

By just kind of inspired me just thinking about, like, you know, just the financial world and how to how to think about money, I guess. Yeah. And so that was my first nudge into that world that way. Yeah. The gateway to that. And, Rich ported. I think I may have gotten that as a gift I did to look back and see who actually gifted me that, but I, I know it was a book that that would have been recommended to me a few times by people as I started to kind of trying to that one a little bit.

00;04;05;03 - 00;04;13;15

Matt Kamp

And, and yet when I read that book is like, man, this is, you know, there's something to this. So, that was really the first catalyst of my interest in real estate, for sure.

00;04;13;18 - 00;04;29;21

David Richter

So you been okay? That's awesome. I love that you got involved in real estate. Then you got involved with a company with your buddies at Deal Machine there, and you've been there for five years. That's. That's incredible. You know, like, just. I feel like in this day and age, people just go six ways from Sunday every other year, right?

00;04;29;21 - 00;04;32;14

David Richter

So being able to be with them for a while.

00;04;32;17 - 00;04;53;22

Matt Kamp

Yeah. I've always loved kind of that startup, you know, a world I guess of. Yeah. You know, coming on early in the company, I had, I joined before deal machine even, I was an early employee was on more in the marketing agency world. But, you know, I loved that journey as well. We took that from a few people to almost 100, I think is, is, you know, for me, the largest we got.

00;04;53;22 - 00;05;12;27

Matt Kamp

So, that was an amazing journey. Made a really, really good friends doing that. Learned in time about sales and marketing and how to, you know, growth in the partnerships that world and then apply that in the deal machine when, David went out there and he basically sold his own problem of, you know, he was going out and driving for dollars or 80.

00;05;12;27 - 00;05;29;25

Matt Kamp

He was when he got into real estate, kept hearing this term over and over again. We'd go to like, Reia meetups in Indianapolis and kept hearing this driving for dollars terms. So it's it's been around forever, right? But he just said, hey, let me take my tech background and solve this problem because I'm driving around and it is a headache to try to do this.

00;05;29;27 - 00;05;48;20

Matt Kamp

And so that's where the machine version one came from. And we've come a long, long way in the past, you know, nine years. But that's where that initial solution was that he saw for himself. And then. Yeah, when, when they really got traction there, they, said, hey, let's reinvest in our own growth. And, you know, that's when I came on board and, and quite a few others.

00;05;48;20 - 00;05;50;03

Matt Kamp

And it's been been a fun journey, so.

00;05;50;05 - 00;05;55;11

David Richter

Oh, very. So what have you done add to your machine over the years then like what's been your role.

00;05;55;13 - 00;06;24;18

Matt Kamp

Yeah. So I recently, and I still run our program program. But I originally came in, they said, hey, you know, one of our top growth strategies period had been have been through referrals and teaming up with people that we can really be a helpful resource to an entire community or to their, their whole, you know, it's it maybe you have people like educational, groups where they can come in and say, yeah, you know, if they've used the machine themself and they've seen how it works, that we can teach their students and help them be successful, right.

00;06;24;21 - 00;06;38;06

Matt Kamp

You know, we did team up with, like, the bigger pockets of the world and the, the one cool thing was we actually, teamed up with Richard Port at and did a lot of webinars, and just taught their audience about, hey, let's say, so that that was kind of a cool story to tell on those of.

00;06;38;07 - 00;06;58;25

Matt Kamp

Yeah, full circle. Yeah. Full circle. Exactly. Yeah. For for David too. Like he. Yeah. He said and that was a big, inspiration for him too. So yeah. So, so I would say come on, still still run that, still focused on that. As we've evolved over time, I'm doing more and more around, helping companies who want to have access to our data at a larger scale.

00;06;58;25 - 00;07;21;08

Matt Kamp

Right. Like basically your machine in bulk. Really. So we've kind of developed out a solution for them that's more scalable and help people who are coming in. And, you know, maybe they are looking to have a large team use the machine, or maybe they're looking to, you know, really go all in on, you know, one marketing strategy like calling or email or, you know, whatever the marketing strategy might be.

00;07;21;08 - 00;07;43;04

Matt Kamp

And they need our data at a larger scale. So, yeah, built out a dual machine version. They really just kind of doubling down on our data, making sure our data is the best in the industry and make the, the product, as accessible for those folks as possible too. So I've, I've really kind of try to, to be involved in identifying those people, bringing them on board, making sure they're successful.

00;07;43;04 - 00;07;59;25

Matt Kamp

Help. You know, work with the product team as well, the kind of, you know, relay would continue to help evolve that product. So it's it's been, it's been a fun evolution where I'm, I'd say like sales partnership. It's marketing. You know, anything in that world? I really, really enjoy it.

00;07;59;29 - 00;08;12;13

David Richter

Awesome. Yeah. It sounds like you've got a ton of experience. You know, just over the years, through the different things, you've been a part of and then being able to apply it, you know, to the the different roles that you've taken on, during the course of the business, which is very cool.

00;08;12;15 - 00;08;29;13

Matt Kamp

Yeah. I also I've been really, really lucky on, you know, the teams I've been with as well, like, you know, even the company I was at before it was called influence and Co, you know, all my kind of regional mentors were there like really, really loved, what I learned through that experience, I was running the partner program there as well.

00;08;29;15 - 00;08;46;12

Matt Kamp

And, you know, have experienced really, really fast growth with that company. That was a very fun experience. And then next, we've been here. Deal machine. You know, so it's. Yeah, I've, I've, feel like I've really tried to align myself with great people and have been, you know, lucky by the people I've been surrounded with as well.

00;08;46;12 - 00;08;46;23

Matt Kamp

Yes.

00;08;46;23 - 00;08;57;25

David Richter

Yeah. That's I love that. Let's talk about Deal machine. If someone doesn't know what it is or like what is driving for dollars if they know what driving for dollars is, how does deal machine solve that problem?

00;08;57;27 - 00;09;22;11

Matt Kamp

Yeah. So it originally, was all focused on driving for dollars, like you said there. It's very much, David going out there and, you know, he had a tech background, but, was new to real estate and, knew that that was where he wanted to go do that was a path that he wanted to build his own portfolio and, you know, now he's got 25 somewhere in that ballpark rentals, you know, so he's built his own, portfolio there.

00;09;22;14 - 00;09;48;05

Matt Kamp

But as he was going down that road, he realized, man, just finding a deal to begin with is, is, you know, that's I mean, if you buy. Right, the rest really, really helps, right? It really sets it. So it's like, okay, how do we find those properties that we can help you buy. Right. And you know, driving for dollars was that initial strategy that he went out and built technology to go solve that, to go make that process way simpler, way easier, way more efficient and effective.

00;09;48;07 - 00;10;17;07

Matt Kamp

Over time, we realized, like, yeah, driving for dollars is a piece of the puzzle, but we want to be that go to platform for real estate data and doing deals and going direct a seller. And so, you know, that's where we've really evolved beyond, you know, we have the driving for dollars piece. We have over 700 filters you can work with now inside the machine to be able to use our data because we've got, I mean, nine or 9 or 10 major data sources that we're bringing together and making really easy to kind of digest and take action on.

00;10;17;07 - 00;10;34;04

Matt Kamp

Right. So you can look at the map and say, hey, show me all the properties in this area that fit these parameters that have owners that the this, you know, demographic data that's, you know, fit, you know, this, you know, seller motivation XYZ, and you can, you know, build that list both again either in the field.

00;10;34;04 - 00;10;51;02

Matt Kamp

Right. And for dollars or using our map like that, you're pulling our data. And then the second piece is okay, great. You know, what do you do with that information. How do you take action on that. So we've evolved into a marketing platform as well, where you get probably the biggest thing that that really, changed our perception.

00;10;51;02 - 00;11;10;00

Matt Kamp

And what the machine is, is about a year and a half ago, almost two years ago, we launched unlimited free skip tracing. So phone numbers, emails like how to get in touch with the owner came with the machine now. And so you pull list of, you know, 10,000 properties. And now I've got phone numbers and emails to reach out to those owners.

00;11;10;03 - 00;11;28;13

Matt Kamp

And, you know, previously that that would have cost you $0.10 per property's like a thousand bucks, right? Yeah. And now it's free. And so that was a big turning point. We tried to change the industry there. And, you know, it's been been exciting to see become shift from like just driving for dollars to like a, a data company in general to.

00;11;28;17 - 00;11;42;02

David Richter

So yeah. And then you can actually or is it true that you could also send mail from the app and like, you know, like connect with the actual, you know, try as much as you humanly can to get in touch with that. So just right from the app. Correct.

00;11;42;05 - 00;11;58;22

Matt Kamp

Yeah. So so the marketing side, you've got phone numbers and emails, you have direct mail you can send, you know, with one click from, from the machine. Yeah. You can sign it all in there, track it. Everything like that. There's a doorknocking feature as well where you can give you a planned route and say, hey, help me drive this list.

00;11;58;22 - 00;12;08;07

Matt Kamp

Right? And, yeah, it'll actually give you turn by turn navigation on the mobile app to go out. So, Yeah, it's it's okay. How do we help you identify prospects and then reach out to them?

00;12;08;12 - 00;12;23;26

David Richter

Yeah. Now all of that. Then you've also got a community aspect, right where you teach. Because I know, I know about this personally because you've had me on to teach there. But I'm just wondering, like you also teach other topics and you have that community. Can you talk about the community functionality of the machine, too?

00;12;23;28 - 00;12;37;28

Matt Kamp

Yeah. You do. I mean, you do a great job, man. We always really appreciate when you come on again. You've been on a handful of times and, you know, I know are people really shifts how they think about managing their funds and, you know, when they do do a deal, like, what do they do with that money?

00;12;37;28 - 00;12;58;03

Matt Kamp

Right. But yeah, I think, the community piece, that's something that we realize as well, like, hey, yeah, the more you know, we don't want to be just seen as this app that you use it, you know, and, and, be a piece of technology that you may or may not go out and actually use. Right. Like, we want to help you be successful with using the machine and way beyond that.

00;12;58;03 - 00;13;13;11

Matt Kamp

And we know that if we can make you successful as a or help you be successful as a as an investor and hope you get out there and and build a real business there that you know you're going to stick with us and that we're really, truly providing value and changing your life there like that. That's a win all the way around.

00;13;13;11 - 00;13;31;02

Matt Kamp

Right. And so, we've really focused on building a community that we just bring on outside experts like yourself to come on and educate people, and maybe the machine will come up, but it's more about like, yeah, hey, here's how you do this in real estate or that or, you know, we have all kinds of different topics. We've been doing it for a couple of years now.

00;13;31;02 - 00;13;49;03

Matt Kamp

And and it's a great networking opportunity as well. So we host those calls once a week. If you're a dual machine customer, you get invited to those and we say, hey, come, come join us, learn from this person, connect with each other, network. And I just give a ton of resources to help you be more successful. So yeah, in the end, it's it's a tool that you have to go out and really leverage yourself.

00;13;49;03 - 00;13;53;14

Matt Kamp

So we're like, hey, you know, we want you to be successful period in your real estate business.

00;13;53;16 - 00;14;04;13

David Richter

Awesome. Now I love that because then it's not just you're providing the solution, you're providing that community because sometimes it's all that mental garbage there. We got the phone through our head that we can't break this and I love that.

00;14;04;16 - 00;14;05;00

Matt Kamp

Is yeah.

00;14;05;06 - 00;14;16;20

David Richter

Right. So then talk about your journey because you've started investing in real estate. You've implemented profit first. So like tell us a little bit about that side of it. Getting into the actual day to day.

00;14;16;22 - 00;14;44;00

Matt Kamp

Yeah. Yeah. So it's something that I love doing and I'm lucky that, you know again, the, the team were very, supportive of each other of like, going out and practicing what we preach, right? Yeah. I mean, for us. Awesome. So, Yeah, it's something that I'll do on the side, you know, a little bit. I've got a partner, Vince Hall, here in Saint Louis, who has a very similar role to me over at, Ball Point Marketing and call Porter, if you're familiar with those, those companies, we've, we had a lot of customers that use us, and those companies together.

00;14;44;02 - 00;15;07;03

Matt Kamp

If you send a handwritten letter, you machine, it's actually a ballpoint letter, so you'll come up in a variety ways. But, yeah, we we do visit, deals locally as well. You know, we're here in the Saint Louis area. It's something that, you know, when I jumped in the deal machine, another added benefit to that of not just, you know, loving the team and the idea and the direction, but it was also, hey, here's a chance for me to really get into real estate to like me.

00;15;07;09 - 00;15;23;14

Matt Kamp

You know, you actually take that step that I've been thinking about forever when I rhetoric that and when I've been listening to a podcast like, okay, cool, now I get to do it myself. Right? And so, you know, on our end, we've been doing it for a couple of years together, using the machine locally. You know, it's very much, going out there.

00;15;23;14 - 00;15;40;20

Matt Kamp

We drive for dollars, we build lists, we send mail is our number one, you know, marking method. Just because, you know, that's the most passive thing when we've got our day jobs. Right? And so we'll send mail, we'll have, you know, that will lead to a receptionist. That's through. Call Porter who'll answer the phone and, you know, take, you know, set up the appointment for us.

00;15;40;24 - 00;15;55;04

Matt Kamp

We'll go walk the property. We'll make offers. We've really focused more on the active income side around okay. And flips currently when, we've done, I'd say, you know, on pace, we probably do a deal every month or two. It's probably.

00;15;55;04 - 00;16;07;23

David Richter

It's still pretty good left leg. You're still doing deal machine. And you got this going on and you're using you're using what you get to work on the day to day and the deal machine. And you're getting that from those deals from that source. Basically. Yeah.

00;16;07;23 - 00;16;11;15

Matt Kamp

That's what it's you know, creating a virtual machine expert. Right. Say like.

00;16;11;18 - 00;16;11;29

David Richter

Look at the.

00;16;11;29 - 00;16;36;13

Matt Kamp

Inside of working. You know, networking is amazing within. You know, I'll come on and really try to connect with, with the machine customers that are involved in Saint Louis. Yeah. And, you know, I've got mentors around me, so I'm. Yeah, I'm, I'm lucky with with all of that. So I, I really have leaned into that, you know, we're we again have focused more on those kind of, I'd say like mini flip, you know, shorter flip timelines, some deals.

00;16;36;15 - 00;16;57;22

Matt Kamp

You know, we'll move into buy and hold here. It's some point soon, but also, definitely, exciting. And it's been great. Like, I've just learned so much just being the seed of our customer of what's actually valuable to the investor. And and how do you use the technology? And, where can we improve and, and, you know, really it just gives a whole new perspective on the machine as well.

00;16;57;22 - 00;17;15;29

David Richter

So, yeah, all of that, because then you could actually see a from the person that's using it's point of view. I did have a question before I go into the profit first side. What on deal machine are you able to pull. Is the buyers like are you able to sell from the machine as well too. Because I know it's obviously your network and that type of thing as well.

00;17;16;06 - 00;17;19;28

David Richter

I'm just wondering if you've been able to sell deals through Dealer Machine.

00;17;20;01 - 00;17;37;18

Matt Kamp

Yeah, yeah. So so we do have data there as well for like the disposed side, the, the, the, the other side of the transaction where you can go in there's a variety of filters, probably the most common one. We, we do have a cash buyer filter. So you could just like draw around, you know, that area and say show me the cash buyers in this area.

00;17;37;18 - 00;18;01;06

Matt Kamp

Right. We do have an owner's house flipper filter. So if you go in into in the deal machine and search by, really the easiest way to find any filter is there's a more tab and then you can search by, you know, those filters, just hyphen owners, a house flipper, that will come up or it'll show you based on transaction history and us looking at, you know, property increase in value and things like that.

00;18;01;09 - 00;18;17;01

Matt Kamp

That's where we can identify. Okay. Here. House flippers in a certain area. Right. So you can build a list there, and then, final one is, number of owned properties. So you could say, like, hey, if you've got a deal in this neighborhood, show me everyone else that owns at least five properties in this neighborhood.

00;18;17;01 - 00;18;31;27

Matt Kamp

And maybe they went on one more. Right. And so, you can go in there, build that list, and then, you know, the phone numbers and emails come with the machine. Right? So you pull that list and you've got a whole cash buyers list to reach out to and say, hey, I've got a property in this area. Would you like, you know, are you interested in.

00;18;32;00 - 00;18;35;16

Matt Kamp

Yeah, you should use it for that side of the transaction as well as cool.

00;18;35;18 - 00;18;52;21

David Richter

So you could buy it, sell it everything right there, which is very cool. So then talk about with your personal properties that you're doing the flip the wholesales. Because maybe it was Vince or I was talking with someone and they're like, math is like, no, we are going to implement profit first. And there's nothing like there's no other way that we're going to manage this.

00;18;52;21 - 00;18;57;28

David Richter

Like every dollar is going to be accounted for. So I'm like, that's awesome. We have to have Matt come on and tell us about that.

00;18;58;00 - 00;19;14;14

Matt Kamp

Yeah absolutely man. Yeah. And I mean that's another thing like with this community I've been sitting learning as well from you guys right over the years. And so, you know, I've heard your food, you know, you come on a couple times, I love profit first. I think you got the book back that. Yeah. Here we go. Here's your book.

00;19;14;16 - 00;19;47;10

Matt Kamp

I see you're putting it there. Yeah. So, so very, very much like, a fan of the system and everything. And so every, every deal that we do, that's the first thing we do is we actually we've got the, you know, profit bank account set up, we've got the owner's comp, we've got, owners, tax, which, you know, you know, I used to just like tax account, I guess, you know, we've got, not as much, you know, you know, any talk about, like, the opium like other people's money account before, you know, that's going to be, I think, relevant down the road.

00;19;47;10 - 00;20;05;29

Matt Kamp

But, you know, at the moment we haven't done that as much. You know, we've done more the again, the active slips and things. Yeah. And then, you know, apex as well, mayor, you know, I say like, you know, our marketing budget we throw in there and so immediately we're going in giving it up. I know you've shared that, the table with, like, the, like the taps table.

00;20;05;29 - 00;20;06;04

Matt Kamp

Yeah.

00;20;06;04 - 00;20;07;07

David Richter

The percentages.

00;20;07;10 - 00;20;23;19

Matt Kamp

Yes. The percentages. So we'll go and follow that off. Okay. Who split this? Make sure we pay yourself. Right. Like that's what we're here to do and, you know, celebrate and get excited about. But also make sure we immediately, you know, know what we're going to reinvest in the company and set aside for taxes. And then, you know, just be, efficient.

00;20;23;19 - 00;20;27;03

Matt Kamp

And I don't have to think about it because we've got that system set up in place right away.

00;20;27;04 - 00;20;37;21

David Richter

It's very cool. So then have you been able to, well, pre question how long have you been running profit first with your fix and flip and wholesale active business.

00;20;37;21 - 00;20;44;18

Matt Kamp

Now that that was like, literally from the start. That was our first deal. We did. We said, hey, we're giving it up like this way.

00;20;44;18 - 00;20;48;20

David Richter

When was the first deal done? How long? Completed.

00;20;48;20 - 00;20;54;22

Matt Kamp

That was with Vince and I together. It was like early 2024.

00;20;54;24 - 00;20;58;04

David Richter

Early 2024. Okay, so a year and a half ish.

00;20;58;06 - 00;21;00;09

Matt Kamp

Yeah. First deal together was like a year and a half ago. Yeah.

00;21;00;10 - 00;21;18;09

David Richter

Okay. So I do want to ask. And it's there's no wrong answer. But today is while we're recording this July 1st. So it's a new quarter. I'm wondering, do you have profit in your profit account and are you going to do anything cool with it? Or are you saving for anything or to do with your profit account.

00;21;18;12 - 00;21;41;18

Matt Kamp

So one thing so we have our I say one thing we always really try to take time out for is and you know, we're both busy guys. Like he's got five kids. I, I have three kids. So, you know, setting aside time isn't the easiest thing to do necessarily. But every time we do a deal together, we really intentionally set aside time for my wife and I and then him and his wife to get together and, like, and go celebrate.

00;21;41;19 - 00;22;00;18

Matt Kamp

Oh, cool. We get a meal together and say, like, intentionally say, hey, this is really cool. We're doing here's why we're doing it. Like it's very family driven as well. Like that's anything I make in the side business. It's really focused on, you know, reinvesting in my family and the kids in their education and, you know, that's kind of my, my why.

00;22;00;18 - 00;22;16;09

Matt Kamp

And then, yeah, same thing with Vince. And, you know, his wife, like, he's very much focused on reinvesting and, and, and their future as well. So it's very family driven. So we're that that was one of the things that, you know, made me say, hey, yeah, I could, I could see myself going into business with this guy, you know.

00;22;16;13 - 00;22;32;19

Matt Kamp

Yeah. And so we're very intentional, you know, with, for example, with the profit account or saying, hey, let's set aside, you know, a little bit to go celebrate together too. So, yeah, it's easy with busy lives and just fly through that and not and take a breath and celebrate. And so, that's probably the awesome tradition together. Yeah.

00;22;32;25 - 00;22;50;11

David Richter

Okay. Very cool. So then that's helped. It sounds like it's helped you keep the money straight and to be able to to build. Do you have any targets for when you are going to buy and hold then like are, is there a certain a dollar amount you want in the bank or reserves or like what are you looking for before you jump into the rental side?

00;22;50;13 - 00;23;08;05

Matt Kamp

Yeah. You know, it's it's more I'd say it's more a time, investment thing like we. That's right. It's something where it's like, man, I am very excited to get to that stage, but also, I love, you know, on the new machine front, anything I do on the side, I never wanted to distract there. So it's very.

00;23;08;07 - 00;23;22;04

Matt Kamp

Hey, let's make sure we're in a spot where we're really comfortable saying, okay, we're not we're not going to, you know, if we own this asset, we're not going to neglect it, you know, in any way long term. So it's very I think it's just be more intentional about planning out, the time we reinvest in this, that.

00;23;22;06 - 00;23;22;15

David Richter

That makes.

00;23;22;15 - 00;23;36;26

Matt Kamp

Sense. So it's something to like I know once we get into it, it's I mean, even before we did our first deal together, it felt like this big thing of, like, oh, man, we got to have this done in this, not in this, that. And then we can go do it right. Like, it's really easy to put a million hoops in front of you.

00;23;36;29 - 00;23;53;29

Matt Kamp

I know this is probably very similar, but, you know, it's also something to that, like, hey, if we're, you know, if we're going to team up with somebody who's going to invest with us, like, you know, that I want to make sure we, treat their money well as well, too. So there's that little bit of, you know, added responsibility there, too.

00;23;53;29 - 00;24;16;18

Matt Kamp

So it's more like us really being intentional about planning that out, than anything else. But, you know, doing going out there and doing those initial wholesales and flips has really gotten us comfortable with, you know, assessing deals, kind of underwriting and evaluating deal going on appointments, talking to sellers, you know, making offers like that whole process. We wanted to get really good at first, and we're definitely here to stay.

00;24;16;18 - 00;24;21;14

Matt Kamp

Yeah, we're comfortable with that as well. So we're cool. We'll you know, I, I'd say it's sooner than later we'll be jumping.

00;24;21;14 - 00;24;36;10

David Richter

I was going to say because it sounds like you're right there. It's more just a time thing of, okay, do we want to commit to this because it is a different strategy and almost like a completely different business, because now you're holding it versus just selling it. So you got to manage it. There's the whole yeah, it's like you're keeping the thing.

00;24;36;10 - 00;24;57;24

David Richter

So it's like you got to like you said, take care of it. And it's okay. Cool. I just wondered I did okay. You did say something that put my little antenna up, and you said you don't have the OPM account because you're fixing and flipping. But I did wonder, are you getting any private money or a hard money or you funding these all yourself currently, like with the cash that you have?

00;24;57;27 - 00;25;21;27

Matt Kamp

Yeah. So a lot of what we've set up here to we actually team it. So it's kind of a cool little little angle as well for people that, you know, if they don't want to go fully, fully into like go being, you know, managing, let themself. Right. We've really squarely focused on being the deal finders. And so we've actually teamed up with, there's two general contractors that we've done some projects with now that we really like working with.

00;25;22;00 - 00;25;34;02

Matt Kamp

Yeah. And they actually have some private money sources on their end as well. So a lot of times we'll go into the deal where we're negotiating and actually, you know, making the deal happen there. Then they'll come in to actually manage the flip and even tail.

00;25;34;02 - 00;25;45;11

David Richter

And so they fund and flip and you find that's a that's a pretty good partnership. Yeah. Well it's doing all that. That's very cool. So and how did you find them. They were just in your local area or.

00;25;45;14 - 00;25;50;02

Matt Kamp

Yeah. A referral. Yeah. One. Was it a networking group? That.

00;25;50;07 - 00;25;52;01

David Richter

Is a plug for a community right there.

00;25;52;02 - 00;26;15;09

Matt Kamp

I know. Yeah, yeah. Well, we got a networking group, so, you know, and that was something that he's, he's based in Pennsylvania. Great guy. And then, the other one was actually, Vince went to high school, like, was a it was a Vince personal connection that, you know, basically really the more that we've like, talked about this and shared this with our network, the more naturally people have approached us and things too.

00;26;15;09 - 00;26;22;05

Matt Kamp

So, that one was more of a personal connection that came through. It's getting, you know, more and more active. And then the other one, yeah, it was through networking group.

00;26;22;07 - 00;26;38;22

David Richter

That's awesome. So there's been a lot of good stuff that you brought up here obviously Deal Machine like it's so much more than just a drive for dollars app. It's a literally a direct a seller and direct a buyer could be as well to where you're you're linking the buyer, the seller getting anything that you need. They're getting the properties in the door.

00;26;38;24 - 00;26;58;03

David Richter

I did like hearing about your journey. And it's like, I'm going to practice what I preach here. I'm not going to just be a deal machine user. I'm going to actually go out there and buy the properties and, you know, like show, show the way to which is very cool. I love that, especially that you're in the machine and that you're the head of that community and you like you teach a lot.

00;26;58;09 - 00;27;20;24

David Richter

It is so cool to see that you're on that side and that you're doing the deals. I like that you're also not you like you bring a set of skills to the table in your own deals, but you don't have to bring every piece like through your network. You are able to get the funding and the flipping portion, which is which can sometimes be a heavy lift if you're doing all three things finding, funding and flipping.

00;27;20;24 - 00;27;39;01

David Richter

So I think that was a really good plug for community, but also finding the right people in your life, like who can fill the holes? What what are you really good at? So knowing what you're really good at. So this is a really good episode. I appreciate your insight, but, obviously your insight with everything there and that you're using profit first, it sounds like it's giving you clarity.

00;27;39;01 - 00;27;56;27

David Richter

It's giving you, it's also giving you that peace of mind, you know, as you go and do the deals you're celebrating. I love hearing that. It's always good to slow down, especially if there's eight kids between the two of you. Right. You know, so that's that's really good as well. But, Matt, I wanted to make sure before we left here.

00;27;56;27 - 00;28;03;19

David Richter

How do they get in touch with your machine or with you? Or, like, I want to make sure that if they want to take a next step from here.

00;28;03;22 - 00;28;21;25

Matt Kamp

Yeah, absolutely. I know we'll go through. And we just got our, deal machine.com, website, obviously we have free trials in there and things I'll try to set up. I don't know if you have a chance to link to it, but I'll try to set up a bonus for people on here to use with the USB so that they'll get something that they wouldn't just get going through our website, they'll get, free postcards and callings.

00;28;21;26 - 00;28;35;17

Matt Kamp

We have a dialer inside the machine as well for Mossley, so you can use that. We'll just give you a bunch of marketing credits, so you can just go try it out and see how the how tool works and see if it's a good fit for you. You know, if you're interested in finding deals that way and then, you know me directly.

00;28;35;17 - 00;28;57;28

Matt Kamp

I'm just Matt at the machine.com. Always happy to help you as well. You know, give me a shout out, especially if you're in Saint Louis, you know, always looking at the network locally. And that's probably the biggest takeaway I've had through my professional career through real estate, all that. It's it's the people you surround yourself with and really being able to come in there and then, yeah, find what you're great at, really doubling down on that and, and surrounding yourself with great people that can can fill in the rest.

00;28;57;28 - 00;28;58;07

Matt Kamp

Right.

00;28;58;07 - 00;29;13;11

David Richter

So yeah. Yeah. And you've really shown the way with that, with what you're doing at the machine and then in your personal deals as well too, and going through that process, which is awesome. So there's also an app. Correct. Like if people go to the App Store, they could download the machine and and see it there as well.

00;29;13;11 - 00;29;31;22

David Richter

So it's on the App Store. If you go to Deal machine.com, that's where you could probably have more info on if like if you wanted to look at it and research and all this stuff and everything that they're doing there. Might be easier for you to look at it there. So that's where you could go. And then Matt and Matt at Deal Machinekob if you just want to reach right out to Matt and if you have any questions, he's an open book there.

00;29;31;22 - 00;29;49;09

David Richter

There's no gatekeeping, which is great. So he can actually answer anything that you have. I fully endorse them. They're doing a great job. I know their owner as well too. We bump into each other at all these different masterminds and events. He's really leading the way to of buying the deals and really like being a real estate investor.

00;29;49;09 - 00;30;09;13

David Richter

I see him commenting on post too, like he's not some, you know, Ivory Tower CEO just wanting to go out there. He's like in the trenches helping people as well too. So I really respect their company and what they're doing. So deal machine.com. Also, if you're like Matt and you want to make sure you have the clarity in your finances or if you're pulling your hair out now, like what the heck is going on?

00;30;09;13 - 00;30;27;10

David Richter

And what are they talking about? Go to simple cfo.com. We can help get you straightened out and make sure that you implement profit first. Get dashboards making sure that you have the next steps to keeping more of what you're making. If you're not keeping it already, that's what we could do. Matt, thank you so much for coming on and being a great guest here today.

00;30;27;12 - 00;30;34;18

Matt Kamp

Yeah, David, really appreciate it, man. I'll always, have a great time with you. So I'm excited to have you back on with, with our community as well.

00;30;34;21 - 00;31;05;18

Speaker 3

This episode of the Profit First for ROI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the profit first system in your business? Schedule a discovery call at simplecfo.com right now. We'll see you next time on the Profit First for ROI podcast with David Richter.