An Interview w. Mathew Owens
Mathew Owens is a personal friend I've known for 8 years; ever since I started FIBI. The reason I do a Real Estate Breakthrough radio show and blog posts is to teach people how to use real estate to break through to financial freedom. Knowing Mathew's story, and how he became the founder of OCG Properties, I knew an interview with him would be helpful for you.
OCG Properties specializes in equity and cash flowing real estate investments. Mathew earned his CPA license while performing audits and taxations and he primarily works with large real estate clients. He's purchased and renovated over 500 properties and he helps investors develop various cash flow streams among many other things.
As an experienced flipper, I asked Mathew about the systems that need to be put into place to be successful. A single person can successfully flip 6-8 houses in a year whether their systems work or not, but Mathew handles something like 5 houses a month as well as other forms of investing so hearing his take on systems was invaluable.
On the flip side of the business, Mathew says you must have a very good renovation system with good quality control on the backend. You have to have an acquisition system to find properties and good deals and then work that into the renovation system so you know how much it'll cost to do each job. The property management side of his business is key, it will make or break the entire investment as he learned the hard way. His experience has shown him that as you flip, it's important to be in a position that even if the market changes or an issue comes up, you're able to maneuver around that so you can focus on problem-solving to get your business through.
There's an analysis side of the process, which takes hours on something like a multi-unit investment. There are the systems that keep up with what's going on in the industry, what others are doing and keeping up with technology. A lot of people learn about the flip itself but they don't learn more about what's going on around them, technology, new methods, and things that can make them more efficient. OCG Properties has just started using a software called
Mathew's goals are $50,000 a month in passive cash flow after all the overhead is covered for his entire company. He outlines how exactly he plans on getting to that goal (from 1 week through 5 years). Mathew said when his son was born he realized he wanted a lot more passive cash flow. He endured losses and steep learning curves and even overcame and learned from people stealing from him. Mathew says it's important to keep going and to focus more on the solutions than on the problems when it comes to becoming successful and reaching the goals you've set for your business. He says it's important to not only focus on how to get yourself out of tough situations when losses do occur but to take ownership for them and to do so with integrity.
I asked Mathew to tell me about his
You can reach Mathew for additional information on his business at www.ocgproperties.com or you can email him at [email protected]. The OCG website has free reading materials and podcasts to help you learn more.