Epic Real Estate Investing - 5-Year Retirement Plan - How To Retire Fast With Just $9,000 | 1252

Episode Date: January 24, 2023

Are you looking for a better way to plan for retirement? Maybe retire early even? Today, Matt will show you how to retire fast with just $9,000. You will hear the best strategies for early financial independence and how to use income property to reach your retirement dreams and without much effort reach millionaire status. You'll also get tips and advice on alternative plans and how to make the most of your money, especially if you're getting a late start. So if you're ready to plan for your NEW retirement, you will enjoy this one! Are you ready? Let’s go! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. Retirement isn't just for the wealthy, hardworking, or those who started early. You know, with my $9,000 retirement plan, you could say goodbye to your 9 to 5 and be retired in as little as 5 years. You know, in my hand, I've got $10,000. I had much less than this when I picked up my first house. In fact, I didn't need any money at all when I got that house. And that one house turned into 35 properties, paying me just shy of six figures in residual

income in just under four years, knowing that I'd never have. to report to a boss again. And as you might imagine, friends and family were hitting me up. And people still hit me up regularly. Matt, how can I do this too? And in today's very different market, will it still work? So I'm going to walk you through how I answer this question for people, giving you each step of the plan to take a small amount of money and turn it into a retirement in a short period of time. Now, it's not get rich quick. No, I'm not saying that. But instead of working 40 years to create a retirement, like how the masses go about it, you could do it in four years. Ready? Let's go.

Welcome to the all-new, Epic Real Estate Investing Show, the longest running real estate investing podcast on the interwebs, your source for housing market updates, creative investing strategies, and everything else you need to retire early. Some audio may be pulled from our weekly videos and may require visual support. To get the full premium experience,

check out Epic Real Estate's YouTube channel, EpicR-E-I.TV. If you want to make money in real estate, sit tight and stay tuned. If you want to go far, share this with a friend. If you want to go fast, go to riiase.com. Here's Matt. So the question is, how do you retire in four years with $9,000? That's an easy question for me to answer because I did it with much less. And some of my private RIAA clients have done it with even less.

And they've done it much faster too. So I'm going to walk you through it step by step of how you can do it all. also, all right? So, first thing, you've got to get real with yourself as to why you want to retire in the first place. Because if you're clear on that, there's a higher probability that you're going to pull it off. You know, for me, I had just closed my thriving music production company due to the rise of the free music download. And at 34 years old, I had to start life over from scratch. It was painful. And what was even more painful was when I hit the job market and discovered I wasn't qualified for really anything. And even if I had been, $30,000 a year

seem to be the normal salary. But through my calculations, $100,000 a year was the minimum that was going to pay my bills. And even then, it would have been a stretch. And today, forget about it. A hundred thousand a year is like the new $50,000. You know, I know plenty of people today making $100,000. They dump money into their 401ks. They're focused on paying off their debt and their student loans, and they're still finding themselves in financial trouble. Their six-figure income just ain't cutting it. And I recognize the same thing for people almost 20 years ago now. And nothing has changed. In fact, it's gotten worse, even for people with degrees. And so I had come to the conclusion that going back to school, that wasn't going to be the answer.

At the same time, I knew people that were earning $100,000 per month. So I connected with them. I leveraged them as mentors. And right now, I'm paying it forward by sharing with you what I learned. And I'll be your mentor for the next few minutes if you want. All right, so step number one, and this isn't sexy, but you've got to stash some money away. You know, $10,000, this is a nice round number to focus on, as it's going to get you into that first investment that I'm going to talk to you about.

You know, I noticed very quickly that the poor and middle class were striving for better jobs. Yet my millionaire friends were always striving for better investments. They would take on side projects, start small businesses, network with others doing the same. They'd come together and partner on these projects. They'd delay gratification all to just stash away enough money for that next investment. And regardless of where you are financially, you can take on these same principles. Here, look at this. This here, this is $40. And there was a low moment in Mercedes in my life in 2009,

where that was all that we had to our name. That was it. And that day, we grabbed a legal pan and pad, and we walked a couple blocks to where they had $1. Happy Hour, dollar drinks and dollar sushi. And the plan was, over a drink and some appetizers, we were going to create a plan because we had our site set on something big.

And it wasn't flashy cars or anything material. It was just realizing that the only way we were going to get out of our situation and never deal with these paltry circumstances again was if we could invest. It meant that we had to stash away some money to get there. We would need to make some sacrifices and put in some extra hours, scramble, hustle. And I got to tell you, it was a tough and uncomfortable six months. But we were able to stash away an extra $10,000 by merely putting off what we wanted at the moment for what we wanted most, a good investment, where that $10,000 would work harder for us than we had just worked for it.

If you want this too, you're going to have to question yourself about where you're spending your money. Like, do you really need that new pair of jeans right now? Or do you need your cable TV subscription? When you start adding these things up, they add up. You'll also have to question yourself about how you're spending your time. Are you doing what we've been taught our whole lives to be consumers, like watching TV, scrolling social media feeds, binging YouTube, video games, or doing what the wealthy do, being producers, like creating things, being a very,

value, flipping things. You can make a couple hundred bucks a day by flipping sneakers. You know, my buddy Ryan flips couches, or you could flip houses, none of which are capital intensive. You know, with the internet, it's never been easier to buy low and sell high. When it comes to flipping houses, you don't even need to buy them first. And a single house flip could easily deliver that $10,000 to your stash in the next 30 days. I just put in place a new pilot program for my students, where while you learn to do, my team will earn for you. And for the time being, it's free. If you'd like to check it out, go to epic earnwhileyoulearn.com. So step two, invest your $10,000.

Did you know banks will actually lend you 97% of the money to buy a house, even if your credit score isn't perfect? This means all you need is a 3% down payment. And that $10,000, that's enough in most parts of the country to pull off this investment for yourself. Don't believe me? Well, right now, as of this recording, there are 1,200 of those properties on the market right now in the greater Las Vegas area.

3,800 of those properties in the Orlando and Tampa area. 3,500 properties in the Dallas-Fort Worth area. 3,000 in between Buffalo and Albany, New York. 10,000 in the Chicago to Milwaukee area. I even found more than 1,000 properties that would work from Bakersfield to San Diego in Southern California. You know, throughout the Midwest and the South, you're looking at tens of thousands of opportunities that are on the market right now.

Even with the housing inventory in the U.S. teetering at the all-time low. The question is, what kind of property would you get and what should you look for? Well, my answer would be just about anything that you'd need to provide an income for you. For example, you live in an area where the homes have basements. You could rent that out and potentially collect enough rent that it pays for your entire mortgage. A duplex, that's another option, where you live in one and rent out the other, or any multi-bedroom house, or a condo even, where you could ring in roommates.

Yeah, but Matt, I like my free space and privacy, you say. get it, but this isn't a permanent situation. The goal at this moment is for the income that you're receiving from these rents to offset your own expenses so that you can get to step three, living for free. You know, aside from taxes, people's biggest expense in life is their mortgage or their rent. And if you can eliminate that expense from your life, it means you're freed up to stash more money away and faster at that, positioning yourself up for house number two. And because you're a subscriber to my channel, you know how to buy houses right and at a deep discount even. And if not, The fastest way for you to get up to speed for free is over at Epic Earnwhileyoulearn.com.

You see, when you buy a house with equity and then the market, you just let it do its thing, it's not long before you can go back to the bank and cash out some of that equity. And guess what you can do with that cash? Yeah, buy another property. Now, you're not going to live in this house, though. This house is solely for income. And because it is, it represents a bigger risk to the bank. So they're going to want more money as a down payment this time, like 20%.

But no problem. The bank just gave you a bunch of cash for the equity in your first house. So, this new house, you could turn it into a traditional rental. That would be fine. Or maybe a short-term rental where income is going to be to four times that of a traditional rental. Or you could maximize your income from the property by doing a rent to own. People will pay a premium for a path to ownership. For whatever reason, people can't or don't want to deal with a bank to buy a house.

So in essence, you become the bank for them. This slight tweak could take you from $100 a month. of positive cash in your pocket to $300 or $400 per month. This is a result of the rent that you collect, minus your mortgage payment and the other property expenses. What's left over is called cash flow. That's yours to keep. And here's the thing.

After a short period of time, you'll be able to show the bank that you know what you're doing and you know how to make money with their money. And that's a really good opportunity for them to give you another loan for another property. But where am I going to get another 20% down payment you might be thinking? Well, you're not. Step number four is you move.

So say goodbye to those roommates and rent out the space that you were occupying. And then you do another 3% down payment for your next house. And you keep repeating this process. And in another year or two, you've been living for free while experiencing all of the wealth-creating benefits from free houses. Did you know, per the Federal Reserve, that by the age of 65, those who own a single house are 40 times wealthier than those that don't? And here you are in just 12 to 24 months already owning three. So do you have to move every year to make this work? No, because here's what you're going to find along the way.

You'll be building a track record of success. And that success, it gets attention, meaning people you know will start to notice what you're doing, and they'll went in on it. You know, I remember one night sharing what I was up to with a small group of people over a cup of coffee and a board game. We were playing a board game. And at the end of the night, one of the people there asked me if I could help them invest their $100,000 in exchange for a partnership in the deal. and that's how I got my fourth and fifth property. You'll quickly find that your experience and willingness to take action, it's very attractive to people.

And when your actions are producing profitable results, people you didn't know that had any money, they're going to come crawling out of the woodwork and start throwing it at you. Look, that one person, they introduced me to their sister and then to their friend. It was like in a six-month period, I had three different partners, all because of the track record that I had built. I started with a small amount of my own money, but grew pretty fast by leveraging my track record.

I simply just didn't keep what I was doing a secret anymore. And then people would ask me about it. And I'd tell them. And the more that I shared, the more money that just fell in my lap. And so I kept sharing and grew my portfolio to 35 properties in just under four years. My net worth at the time had grown to just about $900,000. But the income from those properties paid me just shy of $8,500 per month, like $102,000 per year. Goodbye, 9 to 5.

Now, I can hear you. You're like Matt. That's pretty cool if I was single with no kids. That's a great plan. But I've got a job, a family, and I've been pumping money into my 401K for years. I've been paying down my mortgage. I've been staying out of personal debt the best that I can. You know, your plan, it's not very realistic for me.

Is there an alternative plan? Yes, there are a couple. This one I'm going to put right here for you to click, how to invest for retirement at age 50. Although, you don't have to be 50. This plan will work for any aid, but it's ideal if you're trying to make up for some lost time. The second alternative, if you've got some history at your job, you've been saving money, investing money,

your time hasn't been wasted. You could go even faster. I mean, let's say you've got $200,000 or so in your 401k and or maybe you've got a couple hundred thousand dollars of equity in your home. You know what you can do with all of that? You can use that to buy more properties and slash years off this plan. You could be just a few simple moves away from saying goodbye to the nine to five in three years, maybe two years.

You know, done right, things can move pretty quickly. We see it here at Epic all the time. You know, Josh Miller right here left his job in six months. Retired from real estate altogether. He stopped buying real estate in 18 months and is now just living. Every person's situation is different, though. So if you want to know what faster and simple looks like for you, I've got some free information for you.

And to make it easy, I uploaded it over at cashflow savvy.com. And if you've got some money that's ready to start working harder for you than you worked for it, This also comes with a personal strategy session. After you received your free investor guide, you'll have the opportunity to pick a time to talk to a master strategist on my team. And then you can make the decision on what's best for you. So, have you thought about what's the first thing you'll do when you retire? Well, I immediately took a two-week road trip with my son.

And we toured Utah, Wyoming, Montana, Arizona, New Mexico. It was the greatest two weeks of my life. And thank God I got to do it while I was still young enough to really enjoy it. And that wraps up the epic show. If you found this episode valuable, who else do you know that might too? There's a really good chance you know someone else who would. And when their name comes to mind, please share it with them. And ask them to click the subscribe button when they get here and I'll take great care of them.

God loves you and so do I. Health, peace, blessings and success to you. I'm Matt Terrio. Living the dream. Yeah, yeah, we got the cash flow. You didn't know home for us. We got cash low. This podcast is a part of the.

C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.