Epic Real Estate Investing - A Badass Real Estate Investing Plan, the REI Ace Way | 298

Episode Date: September 25, 2017

Epic Real Estate Investing is proud to share the three pillars that make up a badass real estate investor. From attracting deals as a marketer and problem solver, to converting those deals with a deal driver system, learn what it takes to make money buying real estate while providing peace of mind to sellers in exchange for equity. Find more ways that you can consistently control price and/or terms on your deals to create an exit that provides highest and best profit. You can do this! Get a grasp of exactly what it takes to achieve financial independence with Epic Real Estate Investing and the Badass Real Estate Investor plan. ______   The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? • E.ducation • P.roperties • I.ncome • C.oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Broadcasting from Terrio Studios in Glendale, California, it's time for Epic Real Estate Investing with Matt Terrio. Oh, yeah. Let's stop. Hello. And welcome to the Epic Real Estate Investing podcast. This is the show where I show people how to escape the rat race using real estate. And to make this happen for you, the first step is very simple to shift your focus.

from making piles of money to creating streams of money. That's where it begins, and you only have to do that once. Just do that once, embrace it, and then your escape from the rat race will move at least 10 times faster than those that choose the alternate path, the more traditional path. And let me clarify it, it's not get rich quick. No, nothing like that at all. But it is get rich quicker, and it's getting rich permanently.

And to get started down that path or restarted, I've created a free course just for you. Go to free real estate investing course.com, and you get a crash course on how to find deals, and you're going to get the two quickest and easiest strategies to a paycheck in real estate. And then you just plug in, stay tuned here each and every week, and I'll show you how to put that paycheck to work for you

in a way that it works harder for you than you did for it. All righty? November 2nd, 3rd, and 4th, and the 5th is optional, but it will be the last chance to catch the epic intensive weapons of mass production. Or for the last time we're going to cover how to get the highly potent and powerful tools and methods that every real estate. investor can use to find motivated sellers, buyers, and private lenders in as little as 60 seconds, even if you think you've heard it all before.

That's November 2nd, 3rd, and 4th. And as soon as you register, you'll get instant access to Epic Fast Formula to $10,000 and 30 days or less. And this is all taking place on November 2nd through the 4th in Birmingham, Alabama. And the reason that the 5th is optional is we're going to be touring turnkey properties with our Birmingham partner. We're going to see the before, the during, and the after of the cash flow and properties in one of the hottest markets in the country.

So super early bird pricing is now open 80% off the retail price, the regular price, only for the next 25 people, though. As we reach capacity, that pricing will continue to go up. So if you're going to go and you don't want to pay more, you might want to take advantage of that right now. And, you know, if you don't have to pay more, then why do it? So take advantage of that now 80% off over at epicintensive.com. Epicintensive.com. All righty.

So got a good show for you today. A great show, if I have anything to do with it. I'm going to share with you a badass real estate investing plan, the REIA's way. All righty. The reason being is over the years, I mean, we never know who's walking through this door on a daily basis. A lot of people come through looking for help, asking for help. They call the office, they message the office, they tweet the office, they do it all. And the frustrations are common.

You know, we've got unfulfilled people looking for something new, looking for something new and exciting. We've got real estate investors that come in that are stuck where they're at or they never really got started. They need to restart their business or they need to get to that next level. We've got people that come in. They've got limited options for income that's going to provide the type of income that they're looking for.

And, you know, someone else also, the other frustration is someone's got control over what they do, telling you what to do, when to do it, and where to be, all that kind of stuff. Ultimately, the big fear is, wow, if I don't take advantage of an opportunity, if I don't do something about it, you know, what I've got, that's what I've got. And what people just really want, they want to know what it takes to get to the next level of their real estate. They want something more fulfilling where they can make an impact. They want confidence around their finances.

They want to know that their bank account is going to get bigger each month. going to run out of money before the month ends. They want to create that surplus every month. They want some independence to do more of what they want to do when they want to do it. And ultimately, everybody just wants an exciting life to make an impact and be compensated handsomely for their efforts. Basically, they want to become a badass real estate investor. You know, we've got plenty of them that have walked through these doors. Brad Donnelly, you've heard his name, Corey Kendig, McKenzie Kelly, Parker Stiles, Nathan Price, Jeremiah Johnson. Justin Fairbanks, Josh Miller, Brian Campbell, some new names, the list continues to grow and grow and grow. All badasses in their own right.

So what is a badass investor? All righty, so let's cover that today. And let's cover the badass investor plan that goes along with being a badass investor. So a badass has confidence. Okay, has confidence in real estate, confidence in their strategy, confidence in their systems, and confidence in their abilities. You know, it's the confidence that gives the investor the ability to get up each and every day knowing that they're going to get results from their efforts, that they're going to get paid for their efforts, and they're going to make an impact, they'll be compensated for that impact. Confidence happens when an investor knows how to generate leads, how to turn those leads into a payday, either a big payday or a continuous paydays over time. And that brings us to the next quality of a badass investor.

They know how to make money. You know, it's been said before, if not countless times, you make your money when you buy real estate, right? And a badass investor knows how to buy right. They can generate a lead and secure it under contract at a discount. So if you make your money when you buy real estate, you don't get paid until you sell it. And that brings us to the third quality of a badass investor. They enjoy freedom. Getting paid from your real estate efforts and knowing how to generate income from

every deal that comes your way. That's what creates the freedom everyone aspires to. And in the world of which we live, nothing replaces money in which the way it serves us. Right? It puts food in our stomachs, put clothes on our backs, the roof's over our head.

It pays the hospital bills. It pays for fun, the travel, the recreation, the relaxing. And it allows us to do all of those things for the people and with the people that we care about most in love. that's freedom confidence money and freedom is what makes up a badass investor so do you want to be a badass that's my question to you do do you want to be a badass of course you do stop thinking about it of course you do

that's why you're educating yourself right now it's why you listen to audio books it's why you attend workshops it's why you go to rea meetings it's it's why you're listening to this podcast right now you're looking for the confidence to begin or continue you're looking to make money you're looking for freedom. Your word for this, it might not be badass, not in your world, not in your vocabulary, but it is what you want to be inside of your real estate investing. And an ancillary benefit of being a badass in real estate, because of the extraordinary income that it can be created and all that that that income brings along with it, you're a badass in real life. If you're a badass in real estate, you're a badass in life. That's just how it works. Here's what I mean. To bring this

altogether, a badass investor needs three primary pillars in place, backed by nine profit accelerators working for them. So the first pillar that they need in place is to be able to attract leads. You need to be able to attract leads. If you're chasing leads, you're doing it wrong. And if you're doing it that way, you've got very limited opportunities. When you get your lead generation right, opportunity knocks. those leads chase you.

And to get leads to chase you, you have to first find property owners that need you, right? And the reason any property owner would need you is because they got a problem. So the first part of this is you need to know how to find problems. You got to find problems. Why problems? Well, where there are problems, there's profit.

where there's a crisis, there is cash, where there is chaos, there is cash flow. You're looking for personal problems, you're looking for financial problems, you're looking for property problems. Our society rewards people who can solve problems, and the bigger the problem, the bigger the reward. And a property typically represents a fairly big problem for most people with problems, whether that property is directly or indirectly the problem itself, therefore a bad ass investor is rewarded in a big way. In a nutshell, people will exchange equity for peace of mind.

They'll exchange equity for peace of mind. If they got a problem, what they want, they want peace of mind. And they'll give you equity if you can give it to them. They'll do it every day of the week and twice on Sunday. And what's really bittersweet about this whole thing is that people face and are presented with problems every day of the week. life happens to people. They get these problems that they're knocked upside the head every single day of the week and sometimes even twice on Sunday. So with that being the case, you need to let property owners with problems know that you provide peace of mind so you can get the equity in exchange.

You need to let property owners with problems know that you provide peace of mind. And that leads us to the second part of this formula of attracting leads. You need to promote solutions. You need to promote your solutions. It's your solutions that property owners with problems will give you their equity in exchange. Right? It's for your solutions that property owners with problems will give you their equity in exchange. And what are your solutions for them?

What do you bring to the table? What do you have? What do you have to offer as a real estate investor? Well, you bring a quick sale to the table for one. You can make it easy for them. You can offer them cash. You can spare the property owner from having to do any repairs. You save them time.

You save them headache, you save them effort. You can eliminate a realtor and the realtor's fees. You can provide discretion and privacy, preserving a property owner's dignity, and what's often overlooked. And ultimately what a seller wants most, they want competence from a real estate investor. They want competence and the certainty of a clean closing. They want you and need you to follow through. You bring a lot to the table as an investor.

and it's for all these reasons people will sell you their property at a discount. Now, to be a total badass real estate investor, the third thing you need to attract leads, the third thing you need to attract leads to you is a lead machine. You need a machine to run that process for you. You need a lead machine that automates and delegates the entire process so that leads are attracted to and are chasing you 24 hours a day, seven days a week. the most important part of any business are its customers. Without customers, there is no business.

A business that can create a steady flow of customers is going to have a steady business. And if you got a lot of steady customers, you're going to have a thriving business. And that's what an automated and delegated lead machine will do for you. I mean, this is the heart and soul of your business. That's the core of your business. I mean, I know you thought you were in the real estate investing business. I know that's what you thought, but before that, you are first in the marketing business, and you are second in the problem-solving business, and then third, you're in the real estate

investing business. So what that means is the better marketer and problem-solver that you are, the better investor you'll be. So find the problems, promote the solutions, and then automate and delegate the process, and that's how a badass investor attracts leads. That's number one, attract. Number two, convert. Once you have leads, now you must convert them to contracts.

A contract, it represents control in real estate. Once you have a contract on a property, you're in control. You're in a position of power. The deal is now yours to do with what you want. It's yours to lose. It's yours to give back to the seller or it's yours to close. You have the power to choose which outcome you want once you have. have the property under contract.

So for all intents and purposes, at this point, you have bought the property. You have bought the property, which translates to you having made your money. Remember, you make your money when you buy real estate, right? Well, this is where it happens. And the better you are at putting properties under contract at the right price and terms, the more money you're going to make. So how do you do this? How do you get a complete stranger, a stranger, a stranger,

with a problem to do business with you. It's very simple. You need a deal driver system. That's what you need. A deal driver's system. Let me explain. Now, you've likely heard this before that people do business with people that they know, like, and trust.

You've heard that, right? Nothing new there. And that's very much the case here. But there is a twist because the seller doesn't know you first. That part comes last. So a successful deal driver system works in this order. They have to like, trust, and then get to know you. And know you specifically in a certain way.

Know you specifically as a competent problem solver. So a deal driving system, a deal driver system begins with building rapport. You got to build rapport. And the fastest path that I've discovered to building good rapport with the property owner or with the problem is to be genuinely interested in them, to be genuinely interested in their problem. and to be genuinely interested in the solution for that problem and how you're going to solve it. And you do this by asking questions.

Lots of questions. And you do this by asking questions and taking your time and listening to the answers. I know that sounds simple. Sounds simple, right? But it's amazing how many people get this part wrong. In the beginning especially, you must listen twice as much as you talk. God gave you two ears and one mouth for a reason. Use them proportionately.

You got to relate to the seller. You got to look for and draw attention to common ground. You got to be likable. That's what makes you likable. Common ground. You got to align yourself with the seller. You got to be on their side to solve their problem. Noting that the only thing that's going to get in the way is the market.

You see, it's you and the seller versus the market. You're the good cop, the market's the bad cop. Make sure you don't confuse those roles. A badass investor adheres to those roles and rules. They don't rush this process. No, the badass investor knows that slow is smooth and smooth is fast. And a fast contract is better than a slow one. And the process, that might be a little bit counterintuitive,

but that's how fast rapport is built. Slow is smooth and smooth is fast. And then that brings us to the next step of converting a lead to a contract. The presenting of price and terms. The presenting of price and terms. And I phrase it that way because that's what a badass investor is always thinking about. They're always thinking about price and terms because they know that they purchase property

in one of two ways by either their price in the seller's terms or their terms in the seller's price. A badass investor knows that as long as they can control one of the two, they can create a deal. and the real magic of presenting the price and terms lies within the positioning, the positioning of the price and terms in a way that it's the seller's idea. Because when it's the seller's idea, the third step in converting that lead to a contract is the seller signing the contract. And if they believe it's their idea, they will gladly sign it.

So once you've got the seller's signature on the contract, You are in control. This is now your deal. Nobody can take it away from you during the term of the contract. You have successfully converted a lead into a contract. You've made money. Yes, you've made money. It's practically in the bank.

You've made money. But you're thinking, wait, made money. I haven't made any money yet, you're thinking, right? Remember, you make your money when you buy real estate. And although you're not. obligated to close this deal, you have technically bought it. You have made your money. You make it when you buy real estate. A badass investor first attracts the lead, then converts it to a contract. They have at this point bought it. But they don't get paid until they exit. It's good exits,

the third pillar that brings a badass investors program together. Okay? So, you're not. So, you're So you attract, you convert, and you exit. And if you get the exit wrong, there's no profit. But when you get the exit right, you put money in the bank, literally, the type of money that provides the independence and freedom that real estate promises. So the right exit. What is the right exit? What's the best exit?

Well, it depends. It depends on two things. It depends on the deal. and it depends on what you need. That's what makes up the right exit, the best exit. It depends on the deal, and it depends on what you need. You see, a badass investor knows how to pull out what I call the highest and best profit of every deal.

So how do you know what the highest and best profit is? Well, you don't initially. Not until you conduct your due diligence and analyze for all of the exit strategies that you have available to you. Because you got options. You got many options. you know contrary to popular belief very popular belief real estate investing is not wholesaling it's not

wholesaling that's not that's not investing real estate investing is not fix and flipping that's not investing no real estate investing is holding property but not every property you come across is going to make a good property for you to hold that's what i meant when i first said that the best exit depends on the deal, right? Investing is holding property, but not every property you come across is going to make for a good hold for you. So that's what I meant by the first or the best exit depends on the deal. The second thing it depends on is what you need, what you need at that moment. I mean, do you need cash?

Do you need cash flow? Do you need a tax shelter? Do you need money or do you need to place some money? Do you need to free some money up? Do you need to build up your portfolio? Do you need to upgrade your portfolio? Do you need to diversify it? The highest and best profit for you

depends on what you need at the moment that you have secured that specific deal with the contract. What do you need next to move you closer to your ultimate real estate goal, to your ultimate financial freedom goal? Well, you need an ROI maximizer. That's what you need. You need an ROI maximizer.

It's like this. if you need some cash for marketing, if you need some cash for business expenses, personal expenses, or to buy that next income property, you're going to want to consider a flip. That's going to be the one extra strategy you're going to want to consider in that case. Because you can, one, flip the contract by either assigning it or conducting a double escrow for a profit. Or you can, two, flip the property by closing on it, cleaning it up a bit and putting it right back on the market for a little bit bigger profit.

or you can three flip the property by closing on the property and increasing the value by you know by upgrading the interior by adding square footage you can change its use you can do all of that and put it back on the market at an even bigger profit and an alternative exa strategy and the one extra strategy that that I prefer that is to hold property to hold property Now, I assure you, and I warn you, it's not the most exciting path to financial freedom. It's not, it's not very exciting at all. But the badass investor is disciplined. The badass investor understands it is indeed the fastest path, and therefore it is the primary

intent for every property that crosses the badass investor's desk. It's their primary intent. And if financial freedom is a... goal of yours, it should be your primary intent with every deal that you get as well. Now, like I said earlier, however, not every deal that comes across your desk will make a good hold property for your income portfolio. But that doesn't mean you throw it back. No, you don't let it go.

Don't throw it away. No, just because you're not going to hold it doesn't mean you can't get paid on it. You can flip it as your exit, like I explained before. or you could consider closing on the deal and getting paid via a seller finance. And this is when you close on a deal and then you resell it. You can either fix it up or not, but you resell it by holding a note on the property and receiving payments from a buyer. Now with this exit strategy, you would get paid not by being the owner of the property,

but rather by owning the note on the property, by financing it. In short, you're the bank, right? You're the bank, and you get paid just as a bank would. You get some cash in the form of a down payment. You get that up front, and you receive cash flow in the form of monthly payments. That's typically what it would look like, but remember, you're the bank, you're the boss. You call the shots with regard to the price terms and who qualifies for your loan. when you get a deal under contract, you're going to want to evaluate for flip, for hold, and finance.

Lay out the numbers side by side, then factor in what you need the most at that time, and then pull the trigger on the exit strategy that represents the highest and best profit for you at that time. And that is how a badass investor exits every deal. All right. So to bring it back home, how a badass investor runs their real estate investing. They attract leads with an automated lead machine. They convert those leads with their deal driver system. And they exit those leads with their ROI maximizer.

And that's why they have the confidence to take theirs and their families of lives into their own hands. They have the money to provide and care for their families and run the business. And they have the freedom to live life on their terms. So the question again, do you want to be a badass real estate investor? If you're still not sure, that's all right. If you're not sure, I invite you to go to epiccasestudies.com to see what is possible for you. And then make up your mind then.

Epiccasestudies.com. And now, if you're all in, like, this is how I'm going to talk. turn you into a badass investor. If you want to be one, I'm going to turn you into one. And this is how it's going to work. It's like the old riddle goes. How do you eat an elephant? One bite at a time. And over the next nine weeks, we're going to break down the nine profit accelerators that we covered today. We're going to break them down in greater detail to simply connect the dots for you with the idea that we're going to work hard once so you can take it easy later. If you do what most people won't do for the next 12 months, you'll be able to do

what most people can't do for the rest of your life. To meet such people, to learn what they did and how they did it, I invite you too to go to Epiccasestudies.com. Epiccasestudies.com. All righty, I'll see you next week. God bless to your success. I'm Matt Terrio, living the dream. You've been listening to Epic Real Estate Investing, the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts.

Thanks for listening. We'll see you next time here at Epic Real Estate Investing with Matt Terrio. This podcast is a part of the C-suite radio network. For more top business podcasts, visit C-Suite. www.sweetradio.com