Epic Real Estate Investing - Cash Flow Savvy’s Client Builds Out-of-Country Portfolio with Turnkey Properties | 1134

Episode Date: March 23, 2021

In today’s episode, Mercedes is joined with Heather Lutz, a full-time registered nurse, and a Cash Flow Savvy's client all the way from Canada, who acquired a property in St. Louis, Missouri! Tune in and learn why Heather chose passive income, how she bought a property using Epic’s seller financing, how she coped with fear of the unknown, and much more! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. So you want to be a real estate investor, but you don't want to do the work. If there were only a way where someone else could do it for you, now there is. Tune in here each and every Tuesday on the Epic Real Estate Investing Show for Turnkey Tuesdays with your host, Mercedes Torres. Hello and welcome. Welcome to the Turnkey portion of Epic Real Estate Investing. My name is Mercedes Torres, and I am lucky enough to be partners in time with Mr. Matt Terrio, the guy who created the epic real estate investing empire.

Now, I've been doing real estate since 2003. Wow. So what, 17, 18 years? I just age myself. And, I mean, it's safe to say that I've done over 2,000 transactions in my lifetime, not only for our personal portfolio, but for others. for others that did our turnkey. And when I was in the world of financing, I did my share of real estate investing.

And goodness gracious, there are so many details about just real estate and a transaction. You can't possibly learn them all yourself. So one of the goals for me is to really simplify real estate investing as much as possible so that that busy professional can absolutely benefit from somebody else's experiences and knowledge. So the purpose of this episode is just to help you really dive right in so that you don't have to learn every single detail about real estate. But more so, turnkey is so that you don't have to do all the work, but you get to reap the benefits. That said, today's podcast is an interview with a young lady by the name of Heather who's special. Well, all of my clients are special. You know,

I work really, really close with my clients. So not only do I personally become invested in them because I know about their goals and their plan, I end up knowing the kids' names, I'll know the dog's names. I know just a little bit more about our client. But I always ask, you know, what are the two big takeaways from working with me directly or just with a turnkey?

And without a doubt, they always say two things. one, they say it was way too easy, but number two, they wish they would have started sooner. They didn't know that it was this easy to do. Well, that's because we simplify it for them. So Heather's story is not too different. So as I was saying, Heather is special. She's special because she's a full-time registered nurse. She's a big fan of Robert Kiyosaki, and she was referred to us by the rich dad

organization. We are lucky enough to serve so many of Kiyosaki's followers and believers. And so I get to know them personally and then I get to hold their hand through the process. But Heather lives in another country. So without further ado, I'm going to let Heather tell her story. But I want to leave you with one little final thought before I let Heather take over the show. The only way you are going to get a different result to anything, you know, whether it's your diet, whether it's working out, you know, whether it's out of spending more time with your kids or even real estate, is you have to do something different. I'll leave you with that.

So ladies and gentlemen, help me welcome to the show, Ms. Heather Lutz from Alberta, Canada. we are lucky enough to have her on our show all away from another country, I would have to say. So Heather, welcome to the epic real estate investing turnkey portion of our show. Well, thanks for Mercedes for having me on this podcast. I appreciate it. Thank you. You're so welcome and welcome, ma'am. So let's just jump right in, Heather.

Introduce yourself and tell us a little bit about Ms. Heather. Okay. My name is Heather. I live in Alberta, Canada, in the Emmington area. I've been working as a registered nurse for the past 12 years now. I've currently worked full-time hours. I started this whole real estate journey five years ago, started out with taking Rich Dad courses,

and then I started putting it into practice what I learned through those courses right off the bat. So yeah, that's kind of where it all started from there is five years ago. I love it. I love it. And it all started with the whole rich dad. That's ironically how Matt and I started. We read the book, Rich Dad, Poor Dad.

We caught the bug just like you did. And here we are 15 years later. So kudos to you. So Heather, how did you find Epic Real Estate and Cashful Savvy? Well, it actually started with the you guys were recommended to the rich dad. company. I get emails from them all the time and one of the emails that I got from them, they had mentioned you guys and they recommended you guys. And so I checked your website out. And I, you know, between what rich dad had recommended you guys in your website, you know,

it just reinforced your credibility in my eyes. So I want to get a closer look or take a closer look with cash and savvy so then I called you guys. And just between the conversation that I had with you and, you know, I was, I was impressed with which you guys had to offer and I felt comfortable with what I heard. So I figured, oh, well, cash-lo-savvy must be the real deal. So definitely, I was impressed.

I was happy with which you guys provided or the service that you guys provided. Awesome. You know, we've been very fortunate Robert Kiyosaki and the Rich Tab team. just to have incentives so many of their students. So it's not uncommon listeners that you will hear a lot of our students say, you know, I was originally a rich dad student and that's how I found you guys because we've been lucky enough to just serve so many of their students. So just like you have, you've started to build your portfolio.

So we'll jump right into your portfolio, but I want to know, just out of curiosity, Heather, why passive income? Well, why not? Exactly. Well, just, yeah, let me elaborate. So I love what I love passive income. I think, you know, the idea of getting a check that comes my way without putting any work into it, other than like the initial, like playing under contract, doing the due diligence.

I mean, it's not that much time, really. But, you know, the fact that I'm getting this check, I don't have to work for it. it is great. Like, I love it. Um, you know, working as a nurse and, you know, I work with some older nurses and, you know, hearing their stories that, you know, they're of retirement age or they're approaching retirement age and they can't because they weren't prepared and, you know, to retire. I mean, that scared the crap out of me. It's just, I just did not want to be in that position at that, you know, when you're in your 50s and 60s. I just, I did not want to be there. And I'm like, totally, Heather, that is the reality of so many people, not only across our nation, across your nation too.

Yes. Yeah. I speak to so many people that are coming very close to retirement, like three to five years away, and they have no plan. So I love the fact that if you don't mind sharing, how old are you, Heather? I'm 34. Awesome. And you already have one property under your belt. I love it. So, yeah. So tell us a little bit about the property that you required with cashless

out. Well, it's a single family property in St. Louis, Missouri. Let's talk about the property in itself. It's three bedrooms, one bath, about a thousand square feet, right? Like that, yeah. Correct. And then so the reason I know this property, Heather, is because you were a little bit different because you bought this property with seller financing and place. So Epic Real Estate owned that property for quite some time before we decided to do the seller financing. And quite honestly, the whole reason we started doing seller financing was specifically for our out-of-country investors, specifically our Canadian investors, but, you know, it's now branched out to investors all over the world. But you picked up a property on seller financing,

right? Yeah. Tell me a little bit about that, about your experience and the terms and all of that. Well, I loved, yeah, like, now that you've mentioned the seller financing, like, that's what really got me hooked. It's like, okay, you know, the fact that you're leaving financing in place, you know, it made it more attainable for somebody like me who's got very little money to play with to begin with. But, you know, you guys left that, you made it obtainable for me to get into a deal. because you left that financing in place. You know, it's interest-only payments.

So, you know, with the fact that, you know, I'm able to cash flow with this deal. So, I mean, the payments are very manageable. You know, I love this setup with it because, you know, we use Note Servicing Center. That's third party that helps to, like, they're their third person that will send me notification and say when, you know, the payment is due

and then I'll make the payment and then it's that the process makes it easier. It's hassle-free. There's that third party in there to help the process of the payment to go through. It's easy, I guess I should say. Absolutely. You know, one of the things

that we decided when we created our turnkey, number one was to mitigate as much risk as possible, but number two, to make it as easy as possible for our investors. Now, we often say, you know, being a passive investor doesn't mean that you're completely inactive, but it does mean that, you know, we can make it a little less stressful in ourselves. So, yeah, we do use a third-party servicing company to help both of us,

to help you, you know, make your payment and to help us collected so that everything is easy for you. And then we even set it up a bit further is we have our private. property management, deposit your funds into the same account that you're going to be using to make your note payments. So everything is like super easy and can be done with a couple of clicks. So are you experiencing that? Oh yeah. Like it's so easy. It's really easy. And in fact that what I'd like to with how you guys set up these these investments is the fact that you vet out these property management companies in the local area. that this property is in, this market that the property's in.

And you've bedded them out. You made sure they had a good reputation. And that they're going to do the job properly, that they're going to look after the property properly. You know, at the end of the day, Heather, and Matt says it all the time on the podcast. It doesn't matter how great your property is. If you do not have a strong property management team on the ground

that's going to oversee your property, ensure that they place paying tenants in the property and then actually collect the rents and send it to you, I mean, that is 90% of the equation. So we do go out of our way to make sure that all of our property management teams are not only on point or on the same page. So so why they're here that you're finding that with your property management team. Yes. Tell me a little bit about property management. You have one point of contact and do you find that they reach out to you a lot? What's that experience?

The property management company that I'm currently working with, they are great. I would definitely recommend them to anybody who's wanting to buy a rental property in the St. Louis area. I would definitely recommend this company because, yeah, if there's any issues that come up with the property, they will definitely reach out to me. Usually the owner himself has been in touch with me.

If there's been issues, he'll say, look, here's the issue. What do you want to do? How do you want to handle it? So, you know, it's, you know, they definitely keep me up on top of things with the property. And I mean, I, on my own, do it anyway. I know one situation, I'm just thinking of with Kim Kiyosaki. I do a seminar with her and she just said, you always need to keep your finger on the pulse with whatever investment you have. Absolutely. If you're going to have a mess. So I always keep on top of things with my property as well, too.

So between what the property management company does to keep me in the loop, as well as me staying on top of things, I mean, it's been great. It's been so hassle-free, really. You know, one of the things, yeah, our St. Louis team is great. But we also have to say the same thing about our international. Napalus team, our Birmingham team. I mean, all of our property management's are awesome, not only because we operate in volume,

but we do represent a big portion of their business. So they really do take care of our clients. You know, like yourself, the owner himself reaches out to you if and when there's a problem, but I bet you he doesn't reach out to you every month. No, not every. No, it's like, no, I don't, not all the time, no. I mean, and that's the thing.

that just tells you that I've had very little issue with this property. Yeah. It's great. That's what we strive for. Awesome. So what would you say for our listeners? What was the biggest learning curve when you first jumped on board? It was the fear.

That's stinking fear. Chick-a-little was squawking in my head. The goblins were having a party up there. It was so annoying dealing with. with that fear. It was just the fact it was my first deal with you guys. I mean, you know, pulling the trigger on that first deal. Oh, it was, it was the fear.

Big time, it was, it was, um, facing that. I mean, even though all the things like I said earlier, you know, the recommendation by rich debt company speaking with you, um, your website, you know, the fact that, you know, from the time that I engaged in the deal with, you know, and signing the contract, doing the due diligence, you guys helped me walk through it all. Even though all that stuff was in place, there's still that, oh my gosh, what if it doesn't work out? What if? What if? What if? You know, it's, it was, it was unfounded. At the end of the day, once I did it, I went through with it. And then I got my first, you know, check in my deposit

into my bank account. It's like I was telling my boyfriend, I'm like, it was that easy. You know, Heather, I get that all the time. And then I go back a couple years later and I say, you know, what would you do different? And I always hear, I would have started a lot sooner. So what would you have done different? I would have definitely, knowing then what I knew now kind of thing, yeah, I would have done this a lot sooner. I would have, yeah, I would have done it a lot sooner. It's just, it's so silly what fear, how fear can stop you from moving forward or it,

it paralyzes you. It's stupid. But yeah, like that's, it's ridiculous that the fear of unknown, how it just, it prevents you from reaching your goals, you know, your dreams or whatever you have that you want to do for your life. It's just, it's interesting how fear does that to you. But I definitely would have done this sooner, for sure. That's, it's awesome to know.

And let me just tell you, Heather, you're human. And that's why you had fear. And you actually, I'd have to say that you had an additional fear because you were in another country. So you're in Canada. You know, not only were you investing in another country, but you were not going to be coming here anytime soon. So it was a matter of you had to really confide in a team that came recommended to you. So, yeah, that's awesome that you overcame your fear. Heather, I can't tell you how many people I talk to that, you know, I speak to them, you know, let's just say today.

And I speak to them in three years. And they're in the exact same position that they were three years prior. So you did something different, Heather. And look, now you have an amazing property because I never hear from you. So that means it's working. Exactly. And it's just it's great to see this slowly building up, right? but it's building up, which is awesome.

Awesome. So now that we know that the biggest obstacle for you was fear, what would you say help overcome that fear during the process? I would say, you know, definitely with you guys being there the whole way, helped me tremendously. I would say my boyfriend, I got to give him credit where credit is due. me to get through this this you know that fear he just says Heather just do it just pull the trigger you know it's good you've done your homework it's good just you can do this kind of thing the

fact that I had the support with my boyfriend and with you guys it helped me to get through that right so yeah definitely you guys deserve the credit that you make it easier make it easy Thank you. Thank you. We try to make it as easy as possible because when I started, Heather, there was nobody that I could call. There's nobody that I could pick up the phone and ask the question. I mean, of course, there was escrow and there were, you know, agents, but there was really nobody holding my hand. And Matt and I often talk about we made a lot of mistakes because we didn't have anybody to ask. We were the guinea pigs. So, you know, moving forward when we created our turnkey, that's one thing that we wanted. We always wanted. our people to have somebody that they could call. So not only do you get to speak to me the entire time, but you get a personal transaction coordinator that holds your hand through the entire process and answers questions that, you know,

to us, we get asked all the time. To you, they're new. And I have to say that our coordinators are amazing because most of them have done over 500 transactions. And I remember hearing you on the phone, I was like, that's Heather again. But, you know, you suffered from analysis paralysis and girl, you did it. So the fact that you did it says so much.

In fact, I even see you asking questions about some of the properties that still go out for deals of the week. So it sounds like you are looking for more properties now. It hasn't stopped. I'm not stopping anytime soon. I want more. Like now that I got a taste of it, I don't want it to stop. I want my financial freedom. I want to get out of the rat race.

And I know, you know, you guys are definitely, you know, that piece of the puzzle to help people like myself to get out of the rat race. I'm tired of this. I'm sure other people feel the same way they want out. A very common feeling, Heather. So thank you for taking the time and just being vulnerable in sharing your fear because it's so common, Heather. Why do you think that less than 1% of America actually does this?

Because it's scary. So many people are full of fear. And there's that 1% that takes the step to make a difference in their future. So what would be, Heather, the one piece of advice that you would give a new investor that's considering jumping into real estate or considering a turnkey? What would you tell them? what I would tell them is that they need to have a good team

they need to network they need to have a good strong team and you know I would recommend anybody that you know recommend you to anybody to add you guys to their team like they need people like you guys to get started too and then just build up from there so that's what I would recommend

and to, you know, to other investors who want to get into this, that's what I would recommend to them. Absolutely. Awesome. So what's the goal? What's the next step for Heather? Well, I want to buy more properties from you guys, that's for sure. Awesome.

What I want to do is like I definitely, like, you know, the more I do this journey, the more I'm realizing I need to use other people's money. I know Matt's talked about it in his videos, and I mean, you guys talk about all time on your website. And, you know, I just think other people's money is definitely, you know, that way to obtain financial freedom and to acquire more deals. So that's kind of been my top priority right now is to grow a team of private money lenders. So that way, you know, we can help each other get out of, you know, reach our goals faster and, you know, and obtain more. more passive income. So I am a big fan of other people's money and I love that you leverage as much as possible.

So, you know, deals of the week, sometimes we have a seller finance deal. So keep your eyes open, Missy. The next deal is right around the corner. Yeah. Heather, thank you so much for joining us all the way from Alberta, Canada. Thank goodness for the internet that we are face to face and auto to audio. So thank you for joining us, and I will speak to you soon. I will call you back in for an update when you get your second property.

Does that work? Sounds great for me, Mercedes. Thank you. I love it. Thank you. Have an amazing day. Thanks, you too. Bye-bye.

Your portfolio has seen better days. But this two shall pass. And the best for you is yet to come. Together, we'll get you there faster. We're cash flow savvy. And we'd like to share some information with you that will show you how you can take control of your financial future and accelerate its arrival. Go to cashflow savvy.com. More building, less waiting.

Cashflow savvy.com. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.