Epic Real Estate Investing - 4 Simple & Easy Daily Activities to Implement for Long Term Gains | 833

Episode Date: November 11, 2019

Mr. Matt Theriault is getting back to basics as he shares 4 simple and easy daily activities for long term gains. Keep it easy, move at the speed of instruction, and quickly you’ll be on your way to making some real money! Tune in and let’s get started!   If interested apply for free 30 days trial at drivingfordollarswithepic.com and get $30 credit for sending postcards via our app! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit Art.

E-I-A-A-A-Ase.com. Here's Matt. Hello, and welcome to the Epic Real Estate Investing Show. This is where I show people how to escape the rat race using real estate. And we are returning back to basics for the next few days in the last past couple of days as we are moving into the holiday season, which is a time where most people like to take it off or take it easy. And that is always translated into more opportunity for me. because activity, it might slow down during the holidays,

but disproportionately your real estate investing investors will slow down even more. And so it still leaves a lot of great deals out there for the taking. All righty. So back to the basics. And the underlying theme here is to keep it simple. So I'm going to give you a very simple daily discipline to implement. And this should be really easy to implement in less than an hour a day. Therefore, it makes it ideal for those of you that are holding,

down your day job and you're working your real estate investing on the side. And then for those of you that are full time or closer to it, this should be the absolute minimum that you should be doing. And so don't want you to overthink it. Don't complicate it. You got to get out of your head and just acknowledge what's so. Don't add anything to it. Don't give anything, any meaning. Because what's so is this business can be defined in just those four simple steps that I I gave you yesterday. Step one, you got to find the deal. Step two, you got to secure the deal. Step three, you got to analyze the deal and step four, you got to close the deal. And there's one extra step in there if you're going to be wholesaling and that's to promote the deal.

But that's it. It's really, really simple. So that's what's so. Just keep it simple and just move at the speed of instruction and you'll quickly be on your way to making some real money really soon, ideally before the end of the year, if you start right away. So that goal, it's well within the realm of possibility for each and every one of you. Well, within the realm of possibility, I can comfortably say that with consistent and persistent action starting right now, that could be two, maybe three deals, extra deals that await you before the end of the year. And if not, if you don't get that extra deal by the end of the year, I mean, what if you

just messed everything up and you didn't close that next deal until January? How bad would that be? I mean, you're still going to need money in January, right? I know I will. I'm going to need it in February. I'm needed it in March as well. So the point is just get on this proverbial treadmill. Log your time five to six days a week. And before you know it, you're going to wake up and look in the mirror and be pleasantly surprised with the results that you've been working for. And in the same way, these activities will compound and produce impressive results.

Just like the treadmill does for your body, these activities are going to do the same for your wallet. All righty? So the four stages of the epic approach. Find the deal, secure the deal, analyze the deal, and close the deal. And within each stage lies its own unique skill set. And like we had mentioned yesterday, your real estate investing skills are like any other skills that you have, that they can be learned. And they are learned in the exact same way that you learned your other skills through repetition.

Now, what's so encouraging within real estate investing is that it's such a simple business. It doesn't take long to get good at it. meaning it's not like learning the perfect golf swing. I don't even know if there's such thing. That's complicated. That can take years. And it's not like learning to play Beethoven's fifth on the piano. That could take years as well.

No, it's nothing like that. Real estate investing is much simpler. It's still a skill set of which takes time to learn. But it would be closer to that of learning to say, I don't know, tie your shoe. Meaning if you've never done it before and you notice someone, shoe tied and a nice little bow, that could be really fascinating to you, right? And it could be very challenging to figure out how that person did that without actually them demonstrating it for you. But once you saw them actually tie the shoe from start to finish, you still might not know how

to do it yourself, but certainly the mystery has been cleared, right? The fascination has surely waned. Now, once you try to do it yourself, you'll likely be very clumsy at first. You'll be all thumbs or all pinkies and you're just getting your fingers in the way, but with enough effort and concentration, you could get your way through it. And then after you did it a few times, it's going to become easier and easier and a few more times even easier. And within a few days of practicing and perhaps with a little bit more guidance and instruction from the person who showed you how, you could tie your shoe without even looking, blindfolded, right? And that's kind of what real estate investing is like. Once you've seen it done, it's fairly easy to understand. It's not complicated. And then

once you've done it yourself a few times, you're going to wonder what you originally thought was so difficult and fascinating. So it's a skill, but a skill that you can learn and with a little focus and intent, learn rather quickly. All right, so now of these four skills, you got to find the deal, you got to secure the deal, analyze the deal, and close the deal. So of these four, there is one that will make up for any deficiencies that you may have in the others, meaning you don't have to be a master of all of them to do well in real estate. And if you're really good at this, particular one, you can mess up all the others and still get by. And that one skill is finding the deal. If you can find deals, you will always do well because there's always a buyer for a deal.

There's always a buyer for a deal. I mean, who doesn't want a deal? I mean, have you ever purchased anything, anything at all? Just because it was a deal? Yeah, totally. I mean, if you go to the front page of Amazon, they build that whole page is all about the deal of the day. Why do you think they do that and they've been doing it for so long? Because people buy deals. I mean, it's stuff that you don't even really need, but people buy it anyway because it was a deal. So sure, you have. I mean, I know you have, and we all have. And that's why I say there's always a buyer for a deal. And if you can find deals, you will always do well. So as you're diving into the basics, Focus on finding the deal section.

It's the first step of this four-step process. Just focus on finding the deal and just go deep there. Go deep before you go wide. Go deep before you go big. Focus the majority of your attention on finding deals. And when you find deals, the rest is going to take care of itself. Meaning you'll easily find the rest out as you get to it. You've heard the expression that will cross that bridge when we come to it, right?

exactly cross the first bridge and that bridge being finding the deal and the rest of those bridges will be very easy to navigate. So here's a simple daily discipline as an absolute minimum of what you should be doing every day. And this is really fresh on my mind right now because I have an RIA's client who has a full-time job and that full-time job is pretty demanding time-wise. and he's been struggling a little bit of trying to get his real estate investing activities to fit in. And so we did this little exercise where I said, well, just track everything you do during the day. And he gave me a little spreadsheet of what his activities were by the time of day. And we looked, went through it.

And I said, okay, so this is where we're going to start. Because he's got to eat. He's got this full-time job. So I'm not suggesting he jumps into real estate investing full-time right away. That's going to be a process. but he's kind of got his expectations that he wants both of them to flourish and much sooner than they have. So I said, let's just start with this.

Let's just start with a simple daily discipline. And let's adjust our expectations and just acknowledge and accept that your real estate and efforts are going to be a side gig for you. But if you consistently do these four activities that I'm going to give you, that they will start to snowball and they'll start to become more and more of your income. and then when it gets to a level where you feel comfortable to make that transition, you'll have the option to do so. But let's just start here and let's kind of block out all the great stories that we're hearing

inside of the Academy on the Follow Through Friday. I mean, this last Follow Through Friday was a monster day. It just kind of seemed endless with the posts of how many deals and how much money was made this last week. And that can get distracting. That can get frustrating and discouraging. So let's just kind of block that out and recognize that we are. are in a different place.

You have different responsibilities and there's just different things going on in your world. So you're just going to have to fit these things in. So let's just, let's these four things. First, you're going to place five classified ads a day. Okay? You're going to place five classified ads a day. I recommend to just start on Craigslist.

And you're going to place it in the real estate wanted, the real estate for sale, the community general, real estate services. and so just place those ads in the way that we've showed you inside the Epipro Academy and just do that five times a day. It'll be a little bit time consuming in the beginning because it takes a little bit time to place an ad. But once you've got 15 to 20 of those, so after four or five days of doing this, you'll be able to go back into your account and just click a button to repost an ad

or refresh an ad. So place five classified ads a day. Okay. And that suggests Craigslist. and I'd also suggest a Facebook marketplace. Okay. And there's plenty of other places. If you've got a local newspaper or a local website and news something in your area,

I would recommend looking there too. And if you go Google websites like Craigslist, you're going to get a giant list of them. Okay. So, but place five of those a day. And we're just going to let them go. But that's going to be the daily discipline. Number two, you're going to write 10 yellow letters a day. 10 yellow letters. Very simple, yellow letters,

and I'm back on to the yellow letters because nobody's doing them anymore. Because everyone started doing them and they became less effective and I think now that everyone has stopped doing it, now it's time to do it. As soon as you hear someone says, that doesn't work anymore,

that's probably the time you should start considering going back into it because that word is going to spread and people are going to stop doing it. And so it's just like all marketing. Things go in seasons, they work, and then they don't, and then they work again, and then they don't. And so write 10 yellow letters a day, and I would look at list stacking, right?

Pull all your list together and head over to a site like Property List Manager, load all your lists up, stack them, and just start at the top. Those with the most common lists, those names with the most common list, or the most lists in common, those are who you're going to write your letters to first. Okay? So, you know, you can get absentee owners that have vacant houses with a tax lien on it. That's where you want to write first, those multiple factors. So that's number two.

Number three, submit at least one offer a day. This is key. You got to find someone to submit an offer to. And the suggestion I gave to him was you got to find a realtor. If you don't have multiple listing service access, you've got to find a realtor. Or you could go to Zillard. and I suggested look for all properties that have been on the market for 90 days or more. And that could be the place where you start and just one offer a day.

And it could be, you could do a full price offer and say, you know, I'll give you all $100,000 that you want for your house. I'll give you, and then in the term, say, I'll give you $10,000 today and I'll divide the balance up into 200 equal monthly payments and just submit. That could be one way you can do it. It doesn't have to be all cash. And likely, if it's been on the market for 90 days, there's a reason. It's probably because they can't lower the price.

So if you start offering them something, they've been sitting around for a while, they probably haven't had an offer in a while. That could be someone that you really get their attention. So you want to call the realtor, say, hey, I've got an offer for you on this listing. I've seen you've had it for a while. I don't know if this is exactly what you're looking for, but I put something together, take a look, and let me know. and present it to the seller and tell me what they thought.

And so submit one offer a day. That's just one idea. Or you can go to expires or withdraws, but just submit one a day. I like the 90 days, over 90 days on market, excuse me. All right. And the fourth thing is drive for dollars. You're likely, whatever you're doing during the day, you are driving around. You need the app on your phone, right?

So go to driving for dollars with epic.com. You get 30 free days there. and you get $30 of credit towards postcards. And it's how it works. It's an app on your phone. You're driving around and you're like, ooh, that house looks distressed or that house has overgrown grass.

There's a lot of newspapers in there. It looks like that could use a new roof. It's been a while since it's got any love or attention. So you take a picture of it in the app. Then you just push the button and it will send that picture on a postcard. The picture you just took will show up on a postcard in that seller's mailbox,

I think within the next four. to five days. It has your phone number. Everything's all preset. And just do that. That's a time-honored strategy of real estate investors. It's driving for dollars, walking neighborhoods, getting to know your area, knocking on doors.

But now that tech has come to meet this, you can do it really efficiently. It's as quick as taking a picture, hitting a button, boom. So just those four things. Place five classified ads a day, write 10 yellow letters a day, submit one offer, and then drive for dollar. Just carry your app around you while you're out and about driving anyway. Do those four things. And if you have the time or the resources to do more, then go ahead and do more.

But that's your minimum. That's the minimum. And those first three things that classified as the yellow letters and the submitting one offer, once you've done it, exercise this discipline a few days, that's 45 minutes of work. You can do 45 minutes to work. You just get up a little earlier if you have to and have your cup of coffee and go through those three activities. and then driving for dollars, you just carry around and do that all day long. You're going to be out and about.

So just leverage that time. All righty. Don't expect it to produce results overnight, though. I'm not saying this is all you got to do, and you're going to be rich by next week. It's very much like the treadmill, right? It's going to take more than one session on that treadmill to notice a difference in the mirror. It's going to take weeks, perhaps even months to get where you really want to be. And the rule of thumb for getting in shape, my personal trainer, share this with me.

It's 30 days for you to notice a difference, for you to notice a difference. It's 60 days for those close to you to notice a difference. And it's 90 days for the world to notice. So that's a good rule of thumb for real estate as well, I think. But it's not going to happen for you without the daily discipline. You have to get on the treadmill every single day. And you have to eat right for that daily discipline to produce the results in that type of time frame. and just like real estate, you have to do the daily discipline of finding deals,

placing the ads, writing the yellow letters. And this is the biggie, submit one offer a day. I mean, at the end of the year, that's 365 offers that you submitted. Probably 363 offers more than what you submitted this year, right? And just all you need are one of those to go through to make a significant difference in your income. but playing the odds and working the percentages like that, submitting one offer a day, 360 of them a year, you know, that's a dozen deals.

That's for sure a dozen deals. You can't do that and not get the results. All righty? So those are your four activities. Place five classified ads a day. Write 10 yellow letters a day. Submit at least one offer a day and leverage your time driving for dollars.

Driving for dollars with epic.com. All righty. So there it is. That's the basics. That's the foundation. That's the absolute minimum you should be doing and doing it with extreme discipline. Don't skip a day.

So that's it for today. I'll see you tomorrow. I'm Matt Terrio, living the dream. Take care. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know home for us.

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