Epic Real Estate Investing - [Encore Episode] How to Pick a Good Cash Flow Market, Corey Kendig | Episode 222

Episode Date: September 19, 2016

On this special encore episode of Epic Real Estate Investing discover how to choose a strong cash flowing market for your real estate investments. Matt describes how he selected his first market to invest in, and shares his current strategies for market selection. If you are hoping to secure your financial future by using rental real estate to earn your income streams, then this episode is for you! Today’s show is full of actionable ideas that will help you launch a successful career as an investor. Listen up, and get started! ______   Still a handful of seats left for the Epic Intensive. Go to http://EpicIntensive.com See you next week as we resume to our regular podcast schedule!   ______   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

Hello there, Epic Investor. This is Matt at the Epic Real Estate Investing podcast. Welcome. Glad you're here. Between summer vacation and all the activity that's going around are Epic Intensive, which is this week, our big live event of the year. We're going to be on a little bit of a lightened schedule this week. So I'm going to go ahead and do a replay of one of our most popular episodes ever,

how to create cash flow with little to no money. And so that was episode 80 back, I don't know. about a year and a half ago or so, I think. So I'll play that. And then tomorrow we'll also do a replay of our most popular downloaded version of Turnkey Real Estate investing on creative financing with your turnkey investments. So check that out. And then we got a brand new episode, though, on Wednesday of the new podcast, Epic Wealth,

everything that your financial planner is not telling you. So that's a brand new podcast. That's just the third episode. So you can go ahead and search Epic Wealth and catch that. And stay tuned until the very end. another great phone conversation that I recorded with a past client, Corey, Corey Kendig, and he's going to share with you how he's achieved his financial freedom in less than a year. And then next week, we'll resume with our regular schedule. Enjoy.

This is Terrio Media. Broadcasting from Terrio Studios in Glendale, California, it's time for epic real estate investing with Matt Terrio. Hello. Welcome back to another episode of Epic Real Estate Investing. And if you're not back, I mean, if this is your first time listening to the show, I'm really glad that you're here. Welcome, make yourself at home.

This is the place where I show people how to get out of the rat race using real estate. And it all begins with a simple shift in mindset, a shift in focus. Simply just stop focusing on creating piles of money and start focusing on creating streams of money. What we like to call right here in the real world, the real estate. world, we call that cash flow. You see, by doing just that, making that shift in mindset, I escaped the rat race in less than four years. Yep, four years. That's all it took. That's what literally 99% of our population is unable to do in 40 years. And I'm not sharing that with you to brag, not by any means. I don't consider myself special, not in any way, meaning anyone can do what I did.

Anyone can do this if someone would only show them how. You see, someone was gracious enough. And thank for them. They were gracious enough to let me in on this particular money secret, this little life secret. And now I'm letting you in on it. I'm paying it forward. And if you think that's good news, it gets even better because it took me just under four years to escape the rat race. And that was with making a ton of dumb mistakes. And the great news about that is that you don't have to make all of those mistakes. Meaning if you just hang out here for a while, you should be able to travel that road much quicker than I. And to help you get started,

I created a free step-by-step course to show you exactly how to do it, to show you exactly how I would do it if I had to do it all over again, you can download that free course at free real estate investing course.com. Free real estate investing course.com. Pretty self-explanatory.

That's exactly what it is. It's free. It's whole and complete. No strings attached. And that's yours for free. Okay. And by the way, that's where Fernando Ornella started. Ornales. See, I'm practicing my, my Spanish accent. Orneles. And he

did that in just a year. Fernando has escaped the rat race. And you can hear his story just a couple of episodes back, episode 78 to be specific. And now Fernando works right here with me. He works here as director of operations for cashflow savvy.com, helping me, help others exit the rat race also. By, and doing that by, investing in cash flowing property and rental real estate. And he's doing an absolutely awesome job. I know a lot of you've been able to talk to him as you've downloaded the investor package over there

at cashflow savvy.com. And he's enjoyed speaking with all of you. He's having a great time and thank you for giving him a nice warm welcome because he's having a blast over there and he's helping some of you kick off the new year strong. So if that's something that you're interested in looking more into, you can go talk to Fernando as well at cashflow savvy.com. Download our free investor package, and he will call you. All right. So I was sitting here pondering as to, you know, what I was going to share with you today. You know, last episode was pretty heavy, a lot of information there, how to create cash flow with little to no money. I mean, there was a ton of information in that episode, and I was thinking about what I could discuss

for today, which would make sense as a good follow-up. And, you know, right on cue, I received a message via LinkedIn from Mr. Matt Jones. And Matt wrote to me, this is what he said. He said, Matt, first of all, thank you for your epic real estate investing podcast. Matt, you're welcome. And he said, my buddy got me hooked on it. And now he and I are on a mission to pool our resources

and retire in the next 10 years on real estate. And that has a big giant exclamation point after it. Awesome, awesome goal. He says, I'm certain you're extremely busy. Put that all in capital letters. I'm sure you're extremely busy. So I'll make it quick. Our strategy is to buy and hold.

That being said, how do we go about assessing a rental market so that we are able to confidently predict how much a house will bring in rent per month if we buy it? I will add that I'm only part way through your podcast, so maybe you address this. Again, thanks for your help. Matt. And then he signs off saying, if God is for us, who can be against us? I love it. Amen, brother.

So right now, hey, it seems as if God is for us, as this was perfect. timing for your message, Matt. So thank you for that. And I have covered this a little bit. But let's cover it specifically and directly today. His question, how do you go about assessing a rental market so that you are able to confidently predict how much a house will bring in rent per month if we buy it? And I really, really, really like the way that Matt's question is phrased. He wants to assess so that he and his partner can confidently predict, operative words there, confidently predict how much a house will bring in rent per month. And the first thing to note there is that it is a prediction.

Nobody has a crystal ball. Nobody knows what a specific economy is going to do, what the market is going to do. Nobody knows what any particular tenant is going to do. We don't know. And there's the risk. but the great thing about real estate is that we can manage that risk and we can manage that risk like no other investment. And a lot of that risk management lies within the assessment of a market, exactly what Matt

wants to know how to do. But he wants to do it confidently, right? He wants to be able to confidently predict. But just understand Matt, that a prediction, it's exactly what is it? It's a guess. It's a gamble a little bit, okay? But we can make a very educated guess if we look at a few things. Now, and one of those things, I mean, you could look at what other people are saying, which I always, I always look at. I always like to get other opinions. I mean, if you go to Google and, and you just type in best rental markets or type in top 10 rental markets or best places to buy rental properties or best cash flowing markets, whatever that may be, anything like that, you're going to get a list of properties from various sources and you're going to get, and all these sources just represent someone.

opinion. They've done some research and this is the list that they've been able to create. And none of those lists are the same, by the way. So there must be more than one right answer here. And so there's nothing wrong with that. I mean, that can make a really, really good starting point. So go ahead and leverage the efforts of others. I mean, they've done all the research, use the results of their research as a starting point. But keep in mind, and this is very important, regardless of whose opinion it is, and regardless of how good of a rental market, any market may be, it all comes down, really, no, really, it all comes down to the competency and the dependability of your property manager.

Not the market, your property manager. You see, you can be in the absolute best rental market with a crappy property manager, and you're going to get terrible, terrible results. I mean, ask me how I know that one. Personal experience would certainly be the answer to that question. Or you can be in a terrible rental market with a great property manager and get fantastic results. I know that firsthand as well. So first and foremost, you need a good property manager if you expect your rental properties to perform regardless of the market and regardless of the market conditions.

Okay, that's the bottom line. No if, ands, or but you need a good property manager. So how do you find one of those? Well, in my case, and I get asked this question a lot, how do you find good team members? That's a general question I get all the time. How do you find a good realtor? How do you find a good plumber? How do you find a good contractor?

Well, how do you find a good property manager? Well, you have to work, typically got to work with a lot of bad ones. I worked with a lot of terrible ones at first. You know, sometimes you have to kiss a lot of frogs before you find your prince or your princess and you know regardless of how you go about finding your property manager just keep that in mind i mean you might not find a good one at first you likely won't but maybe you will maybe you will i mean don't count that out either i like to be the optimist but the primary way that i start my search for a property manager is to ask other investors for referrals i like to ask other investors

that have cash flowing property, that have rental property. I like to ask them who they're using. So where do you find other investors? Well, your real estate investor clubs. That's a place that you should be going to and you should be going regularly, especially if your business hasn't really kicked off yet, or if you hit a little bit of a slump. So go there, and I want you to talk to other investors,

talk to investors at these meetings, find out what kind of investing that they're doing. And when you find other cash flow investors, inquire about how they manage their properties. maybe not go for the kill right away just because you might learn something ask how are you managing your properties and if you hear that they are using a property manager and ask them if they like them is that are they doing a good job and if they are ask for a referral there's no harm in that and if they don't want to share hey they don't belong on your team okay they're just that that's greedy

stingy my opinion and there's plenty of good people out there that will give you the right answers and if you happen to run across cross paths with a nitwit, just ignore it and go to the next one. Okay. So start there. And to be safe, don't stop with one referral. Get at least two, maybe three or four if you can find them. Like I said, it's likely that first one is probably not going to pan out.

Could leave that open to possibility, but maybe not. Now, depending on where those property managers are located, because maybe the investor that that you're talking to at the meeting or the investors that you talk to at the meeting, maybe they aren't all cash flowing or have their rental property in the same markets. And you find a good property manager, maybe three towns over or four states over,

or maybe you find one right in your own backyard. That's a good indication of where a good market may be. Get it? So I didn't find those answers up on Google. I didn't find those with any sort of internet search. I didn't find that from, yeah, doing any type of typical research that someone might suggest like that. I didn't hear that from a speaker at the front of the room. Where I got that from was someone that actually owns rental

property and is happy with their results. That's a really good indication of where a good market may be. Now, to assess the market, there are three things that I like to look at. I like to look at population, how many people are there, and I like to see if that's expanding or decreasing. And I like to look at the driving industries, the employment in the area. and I like to see what type of industries are employing the people there. And I like to look at the percentage of the population that rents their property. And there's a fourth factor that I like to look at, and I'll get to that in just a minute. But take note that this is not an exact science.

It's not an exact science. A lot of judgment and discretion is involved in the process. And there's a lot of logic that goes that's involved as well. and to that, there's more than one way to do this. Okay, you probably listen, if you listen to 10 podcasts or read 10 books or went to 10 seminars, you're probably going to hear 10 different ways at each place to do this. But as always, all I can do is share with you how I actually do it.

I don't like theories. I don't like hypothetical scenarios. I have no agenda or motive to sell you anything based off of this information. I just like to share with you and discuss. what has actually worked for me. That's not to say there aren't, there aren't other things that will work also. I'm just sharing you with what has worked with me

and what consistently works for me and what is actually working for me today. Not what worked for me 20 years ago. I'm talking about what's working for me right now. So, I guess as an example, I'll just use my first market that I broke into, the first market that I broke into all by myself on my own,

and I'll walk you through the process of what led me to my decision to set up my shop. there. First, I looked at population and the first market that I'm talking about is Memphis, Tennessee. That was the first market where I was like, okay, I'm out on my own. I don't have any partners. This is just me here. And I'm going to launch my investing career. So that started in Memphis, Tennessee. And in Memphis, with the population, a little over 600,000 people, I like that. I wanted to market with a lot of people.

And since I like areas of people, we've got a couple hundred thousand people or more in a specific city. And so if there's that many people in a confined area, I like that. But I did notice since 2000, the year 2000, the population of Memphis was on a slight decline, just over 6%. So that caused me a little bit of concern. Like are the people moving out? Where are they going?

but over 12 years, a 6% decrease over 12 years, that seemed like it was a slight, very slight decline, maybe a slow decline from me. But, so just that being a slight decline, it didn't necessarily mean it was a deal breaker, but I was like, okay, well, okay, so I don't know what that means. Let's look deeper into it. And then so I looked at the driving industries.

I want to make sure that the people there have a source of making a good and predictable living. So I look for big industries, and I look for stable. industries. And I always like to see diversity in industries as well. For example, I mean, although some people have done well in this market, I'm not a big fan of Michigan. Michigan, because, you know, it revolved around one industry, the auto industry. And when that, when that industry left that town, a lot of the, the livelihood of that town left as well. So now Memphis, it doesn't have an extremely

diverse industry. The medical and biotech industry is the, is the prominent, the industry. there. Now, but so without, we got a little slight bit of a declining population. We had just one real major industry. There's another one there and I'll talk about that in a second. But, but if there were any place that I had just one industry, it would be the medical industry. If I was going to bank on or make my investments based off a one industry, it would be the medical industry. That's where I would make an exception. And here's why. And we've talked about this before. the baby boomers, how they affect economies and how they affect markets. And, you know, we've talked about how they are retiring right now.

They're getting old and they're going to need medical care. And this is 11, oh gosh, I always forget the number. It's a lot of people in a very short period of time. It's a big chunk of people, a big portion of our population. And they're going to need medical care, lots of medical care. Because we know when they were sitting there's what I'll just recap really quick. When they were born, that's when we got Gerber baby food. And the baby food, anything associated with baby,

and that whole industry absolutely exploded because the babies were booming then. And then when they became teenagers, right? They became teenagers. And that's where Levi Strauss and the Ford Mustang really hit its stride and had some of their more prosperous years during that time when the baby boomers were teenagers. Then when the baby boomers, they started their families.

You know, Li Ayacocca, he recognized this. And he revived a dying car company, Chrysler, based off of that information, and basically invented and introduced the minivan to the public because he knew these baby boomers were going to need transportation for their families. And then in this big giant real estate boom that we just had, that economists will say that you really start to make your money and hit your stride, your income earning years or in your 40s, in your 50s. And we've had all of this prosperity over the last 10, 15 years,

because the baby boomers were in their money income earning years. The 40s and their 50s. And now they're starting to retire. And so what happens when people retire? Well, they need recreation and they need health care. Correct? And they're retiring. They need something to do.

So that's a good industry to look at. And then also health care. So that's why I like health care. That's why I'm going to make an exception with health care. and so where was I? I went off on a tangent there with the baby boomers. So they need medical care. They're going to need lots of medical care.

And that's an industry that's going to be very strong for a very long time. But having said that, Memphis is also a major transportation hub. It's actually recognized as America's distribution center. So there are a lot of transportation and shipping type jobs in Memphis as well. And also there is Nike is doing. a significant expansion in Memphis also. And I'm a big Nike fan. If you saw my closet, you would understand that.

So that was like the icing on the cake for me. So what I mean when a little bit of judgment or discretion is in order, you know, there aren't a bunch of industries there in Memphis, but there are two very strong ones that really probably aren't going anywhere. I mean, the baby boomers, they're going to need the medical innovations coming from that biotech industry there in Memphis. and the entire nation is essentially dependent on Memphis to ship and receive their goods that they're sending back and forth.

So those are two really strong industries. In Cleveland, Ohio, very much the same way. Not extremely diverse, but very strong in the medical industry, the healthcare and biotechnology industries, as well as fuel cell research, those industries, they really fuel the city's economy, but that's really just two major industries. And there are also 10 Fortune 500 companies that call Cleveland home as well. but not extremely diverse, but it's got the right industries there. So that's why I would make an exception.

I'd exercise a little bit of judgment. Another example of judgment and discretion, the unemployment rate in Memphis is nine and a half percent. That's a lot higher than the nation's average. So you would think maybe on the surface that the jobs aren't there. Well, even though it's above the nation's average, the recent job growth is very positive. I mean, Memphis jobs have increased almost 4% in the last few years,

and actually the last couple years, even a shorter period of time. So that's a really significant growth for such a small region. So if you're going to start looking at that, you know, you look at the healthcare industry, you look at the transportation part. So we got some stability there. And with the health industry, you probably got some growth. And then you look at a major company like Nike moving in to do some expansion. And then you look at the most recent job numbers, and you got a really sharp decline in unemployment there.

So all that, those were things that was like, okay, well, I can see that. Now, the third thing that I like to look at when assessing a market is the percentage of the population that rents. And that's why I really like Memphis, St. Louis also, as well as Columbus. But 51% of the Memphis population rents their residence. So whether someone says Memphis is a good market or a bad market, I really like it because there's a lot of people there. And they have jobs. And jobs are on a significant rise that it's increasing. And half the population rents.

Translation, there are a lot of tenants there that can afford to pay their rent. But first and foremost, what makes it a good market for me is I have three really hot property managers there that cause my properties and my client's properties to pay. perform. And I had those first. I had a, I purchased a, a 14 unit building from there that was referred to me and the property manager that came along with it. So that's how I found my property manager through a referral, through a transaction, and it just grew from there. But then when I looked around and made all those assessments, I was like, hey, this is a good place to be. So that, that was why that was my thought process when I chose Memphis. But really, the straw that broke the camel's back. And this is the fourth thing that I like to look at. I mentioned there was a fourth thing.

I like to look at what the city is doing. And to get to the nitty gritty, sometimes you have to visit. In fact, I highly recommend that you do visit. And you got to ask questions. You have to ask questions of the people that live there in the city. You have to look around for yourself. I mean, I ask, I'll ask a realtor, of course. I'll ask a property manager, but I might ask my taxi driver. I might ask the waiter, the waitress. I might ask the person that's helped me check into the hotel. And I'll ask questions about what's going on in the city.

Is it exciting? Is it growing? Is there a nightlife here? Are there jobs here? What's the overall feeling? I ask those types of questions in general conversation. And you got to look around. You got to look around for yourself.

and after doing that, I noticed how much money Memphis was pumping into the city's development in the interest of attracting tourists. You know, they built the FedEx Forum right there in the middle of downtown. They developed the riverfront right there with all kinds of attractions and new housing. And they're tearing down the old, you know, really depressing prison-looking government housing projects and replacing them with new single-family housing. And that blends in a lot better with the landscape. It looks much nicer.

And just in a nutshell, it's obvious the city is pumping a serious amount of money into city improvements. I mean, you can actually see many projects in progress. You can see it. And that's something you might not be able to get a good feel for over the internet. So that's why I chose Memphis as one of my markets, all of the above. It started with my property manager, absolute must. There's no movement forward without a competent and reliable property manager in Memphis, or in your market, not Memphis specifically.

And then I like for some key things to make sure that the property manager will be able to get my properties to produce. So I look for those key things, like the population, the industry is in employment, the percentage of population that rents. And then the four things I like to look at the city development. I like to get a really close personal view of that city development. And I found all those things in Memphis, and I found those in my other markets as well. I found it in Cleveland and St. Louis and Columbus, Kansas City, Cincinnati, and I'm looking for more markets. Okay? So I just wanted to walk you through my whole thought process of how I found a market. It's not like, you know, there's just not a one or two key indicators that, boom, that's a good market.

Because a lot of people ask me that, how do you know what's a good deal? How do you know what's a good market? How do you find a good cash flow market like Matt Jones said today? How can you find it so you can confidently predict that you're going to get your rent every month? I get it. But there's no just single answer. This is why I couldn't answer his message in an email. Because look how much I've talked about this one little subject. There's so much that goes into it.

So that's how I do it. And I'm still looking for other markets and I still do it the exact same way. For example, just today as I was going through my emails, I get a message from a podcast listener, Nick, Nick from Oklahoma. And Nick wrote, Matt, I'm looking at your episode. Epic wholesalers website and wondering why you are not considering properties in Oklahoma City, Oklahoma. The market is great with very low unemployment, low vacancy, and great rental returns. I currently work this market and would like to find out if you'd be interested in expanding into

this market best Nick. So Nick sent me that today. And he said a couple things. I've actually been thinking a little bit about Oklahoma City. There's about four or five markets that are on my mind. And that's actually one of them. I've heard it before from other people. but he mentioned very low unemployment.

He mentioned low vacancy, and he mentioned great rental returns. Okay. First of all, Nick, I want to commend you for the initiative of just sending him an email and asking me to expand to your market. I think that's awesome. That's absolutely what it takes, and there's no doubt in my mind that you're successful in your market. But Nick said that.

So what I did is I quickly, I'll walk you through the whole process. This just happened today. I quickly went to my favorite resources and go to Citidata.com. that city dash data.com. Bestplaces.net went there. And I went to hotpads.com, h-o-t-p-a-d-s.com. And I did a couple quick Google searches. Confirmed the population.

There's almost 600,000 people. They're very similar to Memphis. There are four Fortune 500 companies there. Since that seemed decent, right there in the middle of the city. The unemployment rate in Oklahoma City is 4.8%. That's very, very low. That's he was right with that, Nick. was correct. That's much lower than the national average. And the recent job growth is very

positive. Oklahoma City also has a lower percentage of renters, though. It's probably why it's the low vacancy, right? It's only got 30% of its population as renters. Very different market than Memphis. But like I mentioned, judgment and intuition, you got to consider that. You have to factor that in and you have to use that. There's a lower percentage of renters. But much higher employment, and low vacancy. So to me, it's definitely worth a look. And like I said, I've been thinking about this market anyway. So here's how I responded to Nick.

I just went and did a quick little assessment. That little search to come up with all that information took me maybe four minutes, five minutes, max. So here's how I respond. I said, Nick, the only reason that we're not in that area is because we haven't had the chance to build our teams there yet. That's the only reason I'm not there, really, because I just haven't had a chance to go out and try and create a team there.

So then I wrote, I'd be very open to expanding our operation to Oklahoma at the top of the year. We have quite a bit of money to deploy the first quarter. I've got a lot of investor money that want to get started in January. So we're going to need more markets. I'm going to need some more inventory to deploy that, to invest that money in. And then I wrote, if you can refer me to three to four property managers, that would manage the type of properties of which you're referring, I'll get someone on it right away. Okay, so I've looked at the numbers real quickly just because that's kind of the sequence that the information came to me.

Nick said, gave me a few key indicators of why this would be a good rental market. I went and did a few Google searches, confirmed all of that. Perfect. Okay, so I'm open to it, but we can't take one step forward until I have my teams there. I need property managers there. At least two. I need at least two property managers. If it's for you and you're buying one or two houses,

okay, you only need one. You need one good one. But for the amount of investing that we do, for me personally and what I do for my clients, I'm going to need more than one. I need more, I need at least two, and I asked them for three or four because probably one or two aren't going to work out. So that's the exact same process as I have today. That's exactly how it starts. That's what it looks like from Inception. I didn't pick Oklahoma. And I've heard from many people before that it's a good market. So I was on my radar, but I didn't pick Oklahoma. But someone from Oklahoma that's there, they shared some really good information with me, at least enough to catch my attention.

And my first response was all about the team. I went and confirmed and verify the numbers very loosely. And then it's all about the team. It's only about the team. The property manager to be specific. And so Nick replied to my email. This all happened within an hour today. He said, I'll ask around to other investors and see who they recommend.

Perfect, Nick. You must have been listening to the show. Then he says, I'll go to the two RIA meetings in January and ask for referrals and get back to you when I have more info. Absolutely perfect. So A plus for you, Nick. And so that's how it works. There you go. And by the way, this is exactly how I did it before I had a podcast in case you were thinking, yeah, but you have a podcast that reaches thousands of people.

Matt, that's it. So it's easy for you. If you were thinking that, yeah, it is. I do have a podcast and it is a little easier. I'm not going to argue with you. but but it wasn't always like that and I had and when it was difficult and when it's easy I haven't changed one thing about my process and and that's how it's going to be for you it's going to be how it's going to be for all of you that are just getting started or if you're getting restarted

you're going to go through two phases of your real estate investing career the first phase is you out there actively searching for business you're actively out there building your teams you're actively out there expanding your markets or your territories and and the more you do that and the quicker you do that, that business will gradually start looking for you. Business is going to come to you. Deals are going to come to you. We've talked about this before. The deals are going to come to you. New team members will find you. They'll want to work with you because they hear you're doing stuff. And then the new markets and opportunities, all that stuff's going to come and knocking. And that's all going to happen for you whether you have a podcast or not, whether you have a blog or a TV show or a speaking tour or not.

And the reason I put all that out there is I really want to remove all of your excuses. Okay? It's hard work in the beginning. You got to get out there. You got to be proactive. You got to be intentional. Look at Nick. He sends me an email and says, hey, why don't you bring your act over here into Oklahoma City?

That's how you got to do it. And I, you know what? If Nick, there's no doubt in my mind, Nick's going to find me a couple property managers there. And I'm going to meet Nick in the first quarter of 2014. and we'll probably open up an operation there. No doubt in my mind, because that's exactly how it happens. There's no magic behind it.

I just laid it all out there in front of you today to give you an example. If it doesn't work, no big deal. Next market. No big deal. Okay? So I share that all with you. I want to set your expectations appropriately

and I want to remove your excuses because you can make excuses or you can make money, but you can't do both. That's how the saying goes. And it's absolutely a fact. So, Matt, thank you for the email. And Nick, thank you for the email.

Love it that they both landed here on the same day. And I guess that's it for today. Until next time, to your success, I'm Matt Terrio, living the dream. On the phone, I'm joined by one of my star pupils, one of my favorite clients, Corey. Corey, how are you? Excellent, man. How are you, Matt? Fantastic.

Hey, I just wanted to ask you a few questions real quick as we're getting ready for the Epic Intensive. What was it, though, originally about real estate that inspired you? I was always inspired, like always interested by it. And I think it was the lifestyle that it provided. I always saw that people in real estate seem to be living a lifestyle that I wanted. And that's definitely what got me first interested and has kept me interested. So what was your life like just before you found the Epic Pro Academy? A little frustrated because there's a lot of BS out there when it comes to education

in investing and I had dabbling real estate a little bit but just didn't have the confirmation that it was what I wanted to do and when I found the Epic Pro Academy it was like a whiteball went off you were a very no BS approach to investing it just clicked and it made things so much easier to move in the speed of instruction how is joining the Epic Pro Academy impacted your business I mean, crazy. I don't even know if I can put an exact amount on it. From the people that I've met, I have made some great friendships, not just with you, but other people that are on your platform. I mean, I definitely owe most of my major action to working with you and working with other members of the Epic Pro Academy. How has all that impacted you personally?

Well, the bills are getting paid, man. Yeah, man I mean it's literally provided me a lifestyle But if you would have told me five years ago This would be my day to day And I'd be able to travel to Thailand for a month And go party here And take my dad on dream snowboard vacations

And just spend my days with who I want How I want I mean that's what it's allowed me to do So yeah, it's amazing You might have already answered this But who else in your life has it impacted Definitely my means immediate family. As we talk right now, I'm actually the reason to hear background,

the reason I'm driving to a property, I just got a lead on. But my dad, he's like, he's definitely one of my best friends, and I've actually taught him how to get involved in some real estate to beef up his retirement. And more than anything, he's actually going to quit his job here in two weeks, and he's going to be my full-time right-hand man. I'm paying him. So we're flipping the script a little bit, but it'll be good. It's going to give him the time, freedom to do what he wants, and at the same time, really blow my business up and kind of create that legacy. And that's like a big, totally a big why for me. My own brother, I showed him how to, you know, stop living at home, and at 21, he bought a multi-unit building off me and showed him how to take his biggest expense and turn it into an income generator.

I get excited over that stuff. So with all that said, what has been the true value of your experience at Epic? I don't think I could put a price tag on it. It's invaluable. More than anything, the people you meet, and for me, I don't know, I mean, I may be a little different, but I just get a serious energy from being around other people that, whether you've done 100 deals or you're looking to do your first deal, that energy that comes from people, it just gets me fired up.

So I'd say that's the biggest value I get is being around like-minded people and taking it home to my business. You know, you attended the epic intensive last year. Why are you coming back again this year? For that exact same reason. I love being around like-minded people. I don't think you can put a value on that. There's something that happens being around a mastermind of people

that are trying to achieve the same thing. If you're trying to take your real estate investing business to the next level or you haven't even done your first deal, this is a place you need to be. Well, Corey, I appreciate your time. I know you're busy. I know you're driving on the way. You're on the way to a deal. So I'm going to see you soon, all right?

Sounds good, brother. I expect a cold beer waiting. For sure. I'll see you soon. Later, man. Bye. Take care. 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 Terry O. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.