A Masters Degree in REI (Literally) with Matt Teifke and Alex Coffman

A Masters Degree in REI (Literally) with Matt Teifke and Alex Coffman
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Table of Contents - A Masters Degree in REI (Literally) with Matt Teifke and Alex Coffman

Podcast Transcription

Dave Debeau [00:00:09] Everyone, this is David Debeau with another episode of the Property Profits Real Estate podcast today, zooming in all the way from a hell of a fun city, Austin, Texas. We've got these two fine gentlemen. We've got Matthew Tigi and Alex Kaufman. And these guys do a lot. I mean, they have a very, very successful real estate brokerage with over 60 realtors working for them. There are hands on active investors. They do wholesale deals. They do commercial stuff, they do coaching, they do raising cattle, all sorts of different things. So what I want to talk to with you guys about is how the heck are you able to manage all of these different things successfully all at the same time? So welcome.

Matt Teifke [00:00:57] Yeah, and we are excited to be here. Thank you for having us on. And we will add as much value and be as transparent as we possibly can. We're very passionate about this and we are grinding every day and very excited about the future and just happy to provide as much value as we possibly can.

Dave Debeau [00:01:15] Well, let's dove in. So first things first, you guys. You're running a brokerage with 60 some agents and you're doing all this other fun stuff. How are you able to compartmentalize or how are you able to delegate? Or how did this whole, you know, variety of different businesses that you're that you're involved in get going? And how do you how do you keep the ball up in the air without dropping the ball?

Matt Teifke [00:01:42] Well, very long story on how it got started.

Dave Debeau [00:01:46] What do the short version because it's a short podcast.

Matt Teifke [00:01:49] Yeah. No, yeah. No, I mean, you know, basically just been hustling and grinding for 12 years. Very Alex as

Dave Debeau [00:01:56] a 12 year overnight success kind of a situation.

Matt Teifke [00:02:00] And we're still working as hard as we can every day. We don't act like we've had success. Alex and I both drive prices and we sacrifice everything we can every day to build our business, to represent our clients well and to put out a good product. But ultimately, at the end of the day, it all came down to we believe in making money on every aspect of real estate, wholesale and flipping, lending, partnering, owning, brokerage, everything. And I think that it has been driven because of the market that we're in. It's very competitive. And so it's forced us to get creative. And so for me, when it started out was when I was going to look at properties to buy, I literally would have ten people behind me. There'd be a line of people going into the house on a off market deal. And what I've always wanted to do was figure out how to be creative and unique and be different. And so I'm thinking, how do I go into this meeting and not just present an offer and hope that it's a better offer than the guy right behind me. So we would go into this meeting with an infrastructure that we already had in place and believed in and said, hey, Mr. Seller or Mrs. Seller, we're here to represent whatever is best in your interest. You want to keep this property great. We lend you some money, we'll help you fix it up and we can rent it out. You want us to make an offer? Great. We'll do that. You want us to listed on the market. We can do that as well. And so it all kind of started from there. And then we basically have just built a a big business based on having a lot of great partners. Alex and I don't run these things all on our own. We may own 30 or 50 or 60 percent of any one of these entities. And we're trying to create an ecosystem that people can use one service, they can use all the services. But at the end of the day, each of these businesses are standalone and we have trusted partners that we've vetted and found over time that we believe are excellent. And then they can run and grow those businesses. And Alex and I divide and conquer. I help grow. I help network come up with new ideas. Alex helps with operations, count the money, make sure everything's profitable. And the key is the people. We have so many strong hustler's integrity driven, long term, open minded people on the team and we all just divide and conquer.

Dave Debeau [00:04:32] So, Matthew, what rewind or Alex, have you guys been working together for that for the last twelve years? Did you start off in business together as a partnership or did you meet along the way.

Matt Teifke [00:04:42] Yeah. Alex, you can jump in if you want and.

Alex Coffman [00:04:46] Sure. So no, Matt had started Tufty real estate first, I guess initially as a property management company and then into the brokerage after that. But we we've known each other. We grew up together, so we've known each other for the last 18, 19 years. But about four years ago or so, we started buying real estate. Together. And that's when the partnership really, really started and turned into what it is today.

Matt Teifke [00:05:12] Nice, nice. I got to give Alex some credit here, because Alex is a big part of this. It was always me independent for 10 years running around doing all these deals, random partnerships here and there. I brought on Alex maybe about a year ago after we had already been working together for four years, buying properties together. And he is just detailed and sharp and organized, amazing background. He had a horrible run with drugs for, I don't know, ten years maybe started when he was like 14. And he has taken the total sober path and his transition, that passion to business. And it's been amazing. I feel like I can go grow with the best of them. And I think Alex can run operations with the best of them. So we really divide and conquer really well. But he's he's helped me put all this together. I always have new ideas and meet new people.

Dave Debeau [00:06:09] Alex is a details guy right here. You're the ideas guy. You come up with these great ideas. And then, Alex, it's Alex's job to make it happen and to keep it keep it chugging along.

Matt Teifke [00:06:18] Is that what I had to tell me and tell me which ones are not great ideas and the same time.

Dave Debeau [00:06:26] So that's that's awesome. It's a great partnership, you guys. So tell me, Matthew, rewind back to when you were the solo guy, just kind of getting started. It sounds like you're doing all sorts of thing, which came first where you like a real estate investor guy first or a realtor first or property back. What was your first foray into real estate then out of that kind of morphed into all these different things that you guys do?

Matt Teifke [00:06:50] Yeah, I'll try to run through it. So it really started with my mom. A single mom raised my brother myself, literally was literally cleaning houses when we first moved to Texas when I was three years old. And over 15 years, she ended up buying two or three properties per year. And it didn't make a lot of money every month. But she made a tremendous amount of sacrifices. And I saw what it took. And I was fascinated by the concept of owning real estate. So it always started with me wanting to own real estate, to set up a lifestyle that I could be financially free and kind of be entrepreneurial, but not have to show up to a job. And so

Dave Debeau [00:07:30] that's impressive. Your mom did that as a single mom and and work in those kind of jobs and that you're able to grow up in that. Just a quick curiosity. Is your mom still doing real estate deals or has she got a portfolio that's now supporting her nicely?

Matt Teifke [00:07:45] She's no, she's not doing as many deals. She's kind of good. She actually helps older elder people and she works with them to I really think she just does it out of the kindness of her heart. But she's she's a special woman. And I ask her, I mean, literally, my brother and I are two our boys. And I say, how did you how did you raise us and do this? And she tells me it was a blur. It's all kind of a blur. And she was always, always on her phone. I remember she was up every morning at 4:00. I don't know how she did it, honestly, but she did. And it inspired me. And it's created a drive in me that is very, very intense. Yeah.

Dave Debeau [00:08:27] And so did you start doing creative deals? Is that kind of your first kick in the bucket or did you become a realtor first? What was the

Matt Teifke [00:08:34] what I did was I got my license when I was 17 years old, going to school. And I was I was committed. I always wanted to be the best. I never had the physical ability to do the best on my baseball team or my basketball team. But I was able to dove into work and realize that I actually could be the best at this. And so, you know, my first year as an agent, I was taking eighteen hours in school and I got the Rookie of the Year as a realtor, and I was very proud of that because I was competing with people that we're not going to school. And twice as old as you were. Yeah, and I was obsessed. I mean, I had a mentor that would go over real estate with me an hour every single day after class one hour and started selling you first one in the office. Last one I would take every call, wouldn't miss a text and built you know, I was making my first year. I made like twelve grand second year made thirty thirty. I made forty and I was a senior in college and I was like man this is amazing. But I was in Corpus Christi, which is a small market in South Texas, and I knew I wanted to be in Austin where I grew up. So I graduated, went to work for a commercial brokerage in Round Rock and I was trying to apply. I went to Texas A&M and I have a master's degree in real estate. And so I got accepted. I left that job, graduated. I started at a commercial brokerage called edX. I was a junior broker, did all the grunt work and I worked for. Jim and Dick's Sporting Goods, clients like that, and then it was very good culture and smart people, but it wasn't me. I had to dress like a banker. I had to dress like a commercial broker. Not that I have anything against that, but it didn't allow me to be entrepreneurial. So I slowly started on tucking my shirt, put my hat backwards, and eventually I jumped off to team up with my wife. And then once I hit that point, brought on Alex about a year later and then to back up a little bit, I always wanted to learn as much as possible about real estate. So I said, it sounds like

Dave Debeau [00:10:42] I mean, have you got a. I even know the ad master's degrees in real estate, so that's impressive.

Matt Teifke [00:10:48] Yeah. Thank you. And I think it's honestly, in my opinion, it's the best program there is by far. They have one hundred percent job placement. Everybody goes to Goldman Sachs and JP Morgan and becomes analyst. And it's a very technical side of real estate. But I wanted to understand that and learn it. And I was around people that were way smarter than me. Like, I. I shouldn't have been able to get into that program. I couldn't get into it. I couldn't get into Texas A&M. I got into Corpus Christi.

Alex Coffman [00:11:19] Wanted to clarify a little bit, too, that your mom reached out the other day and she's ready to start buying deals again. She said, I want to get all these deals with you guys.

Dave Debeau [00:11:30] Well, that's awesome. She's got reinspired by what her son has been doing. That's fantastic.

Matt Teifke [00:11:35] Sorry, guys. It's a there's a crazy amount of ceder going around.

Dave Debeau [00:11:39] No, Alex was just telling me that your mom called him, telling him that she wants to get back in, actively buy more.

Matt Teifke [00:11:47] Yeah, I'd love her to get it, man. Yeah, no, that's just she's the OG in my experience. But yeah, it was because I had that experience in undergrad. I think that's what allowed me to get accepted to this master's program, and so I had a different level of understanding than most of the people I was going to school with.

Dave Debeau [00:12:13] But here's the thing you had a different understanding to. Because you grew up around real. Down and dirty real estate deals that your mom was doing. I'm imagining single family home type stuff and dealing with tenants and toilets and then in high school, you're still at high school and you got your your real estate license and you're making money in real estate. I mean, literally, you had a ton more experience going into university. The most those guys did coming out of university for crying out loud.

Matt Teifke [00:12:44] Yeah, yeah, so it was you know, I try to put the all those things together to become the best professional that I could be, and I got to let Alex take over because this is killing me. But he's kind of learning. He's really learned and adapted from a lot of what I've learned. And we've really created our own spin on everything that we do.

Dave Debeau [00:13:04] Well, that's awesome. So, Alex. Yeah. Oh, that's that's cool. We're gonna have to wrap up here pretty quick, you guys, because it's a short and sweet interview. But, Alex, why don't you tell folks if they want to find out more about what you and Matthew are up to, what they can do?

Alex Coffman [00:13:18] Sure. So you can find out more about what we're doing here in Austin. I think the best place to find us on Instagram at TAIKI Real Estate or on YouTube search in TAIKI real estate, that t'ai SKG real estate. We do a lot of we released a lot of content. We're really active on social try and keep our followers and everybody updated with with what we're doing.

Dave Debeau [00:13:41] Awesome. Gentlemen, it's been a lot of fun. Thank you very much. And keep rocking it with your your multiple, multiple different real estate focused businesses now. Now it all makes a lot more sense.

Matt Teifke [00:13:52] Thank you. Do appreciate your time. All right. Thank you. To find out more visit our site @ https://www.teifkerealestate.com/

Dave Debeau [00:13:55] Thank you very much. And everybody take care. We'll see you on the next episode. Well, hey there, thanks for tuning into the property profits podcast, if you like this episode. That's great. Please go ahead and subscribe on iTunes. Give us a good review. That would be awesome. I appreciate that. And if you're looking to attract investors and raise capital for your deals, that may invite you to get a complimentary copy of my newest book right back there. There it is, the money partner formula. You got a PDF version at InvestorAttractionbook.com.

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