Epic Real Estate Investing - Best Way to Make Money in Real Estate Investing 2020 | 759

Episode Date: August 29, 2019

In today’s episode, Matt shares the strategies of the two of his most successful clients, Brad and Corey. They are both killing it, yet use different investing approaches. In other words, there are many ways to invest in real estate and Mr. Theriault will help you to find the one that is best for you! Buckle up, the ride is about to start! 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 R-E-I-A's.

If you're looking for the best way to make money in real estate investing next year, I'm about to pull the curtain back. I'm going to totally reveal what you won't hear anywhere else. All righty, so let's cut to the chase, and we're just going to go over the best way to make money in real estate investing, and then stick around to the end, and I'm also going to share with you the easiest way, the fastest way, the biggest way, the safest way, and the most practical ways to make money in real estate. And I know I suggested that this is the way to do it next year, but the year doesn't really matter so much as you do.

Meaning, not all money is created equal. And not every investor needs the same type of money, nor has the same resources to make the money in the same ways. So here's a real life example of what I mean. And I'm going to use two of my most successful clients to demonstrate. I'll use Brad and I'll use Corey because they both make boatloads of money investing in real estate. But they both do it very, very differently. Whose boatload of money is the best? Well, the answer is yes, because they're both boatloads of money, right?

But which is the best way for you? That answer, not so clear. And we'll get to that in a second. But let me explain the difference between these two epic clients. First, Brad loves to work. He's a total workaholic. He spends tens of thousands of dollars every month on marketing for motivated sellers. And as a result, he buys and sells several properties every month to the tune of,

as of the recording of this video, is approximately $200,000 a month. He's a total rock star. I mean, that's like a new boatload of money every month. And many people would consider Brad's way the best way until they hear how Corey does it. You see, Corey loves to play. He's a playaholic, but he understands the necessity for work to fuel his play. And he spends very little, if any, money on marketing at all. And he builds relationships, and he talks to people everywhere he goes.

And he acquires real estate by making creative offers to sellers where he amasses equity in a very accelerated manner. And then what he does is he refinement. finances all that money out. And I think in the last 18 months or so, he's refinanced more than a million dollars in cash. Yet he still owns all of the properties of which each and every one produces a monthly residual income for Corey to where not only is he financially free, he was able to retire his parents too. Now, which way is best for you? Brad or Corey's way? Maybe neither, because there are even other ways to do it, like the way Epic Client Mora does it and the way Epic client Joshua does it and that way epic clients jack and Josh do it but enough about them let's talk about

you let's get the focus on you how do you do it how are you going to pull this off so the first thing that is going to determine the best way for you to make money in real estate is your goal for doing it in the first place do you need this real estate money to live do you want to build passive income or does the idea of doing both sound good are you looking to supplement your jobs income your day jobs income or totally replace it. Is this for retirement purposes or legacy purposes? Or just have fun and live life to the fullest right now purposes. The truth is most people that get into real estate investing, they want all of these things to some degree. But before you get started, it's going to be best to prioritize these outcomes. Because if you don't, it's very easy to get pulled

in multiple directions and end up missing out on all of these things. You don't want to do that. So set your priorities with why you're doing this in the first place. The second thing that is going to determine which way is the best way for you is to take inventory of your resources. Most specifically, the amount of knowledge you have, the amount of time you have, and the access to money that you have. So the third thing is your desire to do the work, meaning what's your capacity for and the desire to take on the heavy lifting that's required? Do you want to build a business out of real estate investing? You know, either part time or full, doesn't matter. Or do you just want to leverage someone else's business?

and have them all just do it all for you. Once you're clear on those three things, your goal, your reason and what type, what do you want to use the money for, your resources, and your capacity for doing the work. Once you're clear on all those, it's going to be much easier for you to choose which way is the best way for you to make money in real estate. All righty? So now, let's look at all of the different ways to make money in real estate. First, the easiest way.

I've heard many people refer to this as house hacking. That's the common word these days. and that is to buy a house or a duplex, live in it, rent out some rooms or the other units, and then in a few years you buy another, turn your previous house into a rental, live in the new house, and then in a couple more years you just do it again, and you just continue to repeat that process over and over again. And this is a really great strategy for building income and wealth through real estate if you're limited on funds.

You see, you can get that very first house with as little as a 3% down payment using an FHA loan. And if you're limited on time, you can almost just ask a realtor to go find. these types of properties for you. Nothing special in this type of search. And if you have no aspirations to turning your real estate investing into a business, then it's a great strategy for you too. It's going to take some patience, particularly in the beginning, but it's probably the closest thing to a for sure thing when it comes to making money in real estate with really no extraordinary effort on your part. And for that reason, it may be the best way for you to make money in real estate. Next, the fastest way. Wholesailing. It's the fast flip. And what makes it fast,

is you flip a property before you ever take ownership. You never put any money into it. You never fix it up. You merely put a property under contract and then you just sell the contract to someone else that's going to do all of that stuff themselves. This is wholesaling. It takes limited money, a little bit of time and take some hustle, but it can be fast money like in less than 30 days. And for that reason, it may be the best way for you to make money in real estate. Next, the biggest way. It's the fix and flip. It's where you buy. a house, you add value, and you sell it for a profit. When done right, there's really big money to be made fixing and flipping. It's why it's so popular. It's why there are countless TV shows featuring this strategy. It takes some specialized knowledge, takes access to money and time, and if you got those and you like big money, it may be the best way for you to make money in real estate. Next, the best way, and that is to buy and hold. And I call it the best way, because it's the strategy that gives you access to all of real estate's wealth building properties, like appreciation, depreciation, amortization, cash flow, and leverage.

It's the strategy that has given real estate the name of producing more millionaires and billionaires than anything else on the planet. But it takes money, both acquisition money and financial reserves to maintain your properties. It takes a little bit of time, depending on how fast you want to go, and a little bit of patience, but not much. This strategy it can snowball fairly quickly, like within three to four years, you could produce more wealth for yourself.

The 99% of the population produces than 40 years. It seems slow at first, but it's the fastest strategy to building wealth. Not necessarily fast, but the fastest. And if you find that appealing, it may be the best way for you to make money in real estate. Next, the safest way. The safest way is to finance real estate,

meaning lend money to others so that they can buy real estate. And there are two ways you can do this. First, very simple. Just flat out lend people the money so they can go buy the real estate. The second way, which is a little bit more lucrative, is you can buy real estate and then carry back the financing for someone to buy your real estate from you. This is exactly the type of stuff that banks do.

And that right there is what you call a hint. You see what most people don't realize is that homeownership is promoted to the masses because it creates and maintains the demand for the bank services. that make banks so wealthy. Because there's a saying when you get to a certain level of real estate investing that the money is in the money. So yeah, it's really lucrative. But it's also super safe.

And here's why. You see, what's commonly thought to be bad news for you and I in real estate, like floods, fires, repairs, bad tenants, defaulting owners are typically good news in the form of increased profits for banks. Bad for owners, good for banks. They are the first to be paid by insurance companies. and if their borrowers default, you know what they do? They take the properties back and they just sell them right over again.

And done right, it's really tough to lose. And if you like the idea of that and you have the capital backing to be a lender, then it may be the best way for you to make money in real estate. Now, the most practical way. I'm really fond of combining the fastest way, wholesaling, to generate active income and then invest your active income into the best way, buy and hold to generate your passive income. And that's what we help our clients do here at Epic.

All right? Thanks for watching. Yo. 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, we got the cash flow. This podcast is a part of the C-suite Radio Network.

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