Epic Real Estate Investing - EPREI 035 : Joe McCall of Real Estate Investing Mastery - Wholesaling Lease Options and Remote Property Flipping

Episode Date: June 4, 2012

On this episode, Matt shares his new "private financing" program and his guaranteed cashflowing properties in Memphis, TN. Curious investors can download a complete investor's package at CashflowSavvy.com. Additionally, Matt is joined by fellow podcaster Joe McCall of Real Estate Investing Mastery. Joe explains his turbulent start in real estate investing, how he's mastered a unique strategy in flipping lease options and his latest venture flippling properties in the U.S. while living in the Czech Republic of Prague. You can follow Joe during his real estate investing journeys abroad at RemotePropertyFlipping.com  Pretty AMAZING stuff Joe is up to! Download Matt's free real estate investing course at FreeRealEstateInvestingCourse.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Epic Real Estate Investing Podcast, episode 35. Without further delay. Your guru. Sorry. Your guide to a better life through real estate investing. Matt Terrio. Hello and greetings from the Epic Real Estate Investing podcast. This is the podcast that's going to show you how to build wealth through creative real

estate investing, so you'll have the option to realistically retire in the next 10 years or less. I mean, five years or less, if you're really focused so you can enjoy the good life while you're still young enough to do so. My name is Matt Terrio. I'm an author. I'm a full-time real estate investor, and I'm a family man. Coming up on a one-year anniversary, my son's first birthday is coming up here in July. Very exciting times around here, around the Terrio household.

Now, if this is your first time listening to this show, welcome. So glad that you found us. But you're going to want to do two things. First, you've got to go back and listen to episode one. You've got to listen to the ground rules of the show. And two, I want you to download the free real estate investing course, how to do deals, no money required. And you can get that at free real estate investing course.com.

You see, there are 12 different ways of how I transact real estate using none of my own money, none of my own credit. And of those 12 ways in this program, I show you the first two, the two quickest and easiest and fastest ways to do that. It's a step-by-step course of where I just unveil the mystery around doing deals with no money or credit, and I show you how to do that in that course

at free real estate investing course.com. Okay, so I got a quick announcement before we get on with today's show. A few episodes back, I'd mentioned that I had launched a guaranteed cash flow program for income properties in Memphis, Memphis, Tennessee. And I'm happy to say that,

that program is doing very, very well. And I'm happy also to say that has caught the attention of a private equity firm of who I just inked the deal with to provide private financing on these properties. Previously, we were doing all cash transactions. And, you know, the purchase prices is very low and very, I guess, to get into that market, you don't need a ton of cash, but you do need some cash.

But now I've been able to cut the amount that you need absolutely in half with this financing program. It's a very cool program. No banks are involved. I love it when no banks are involved. because we don't have to go through all the stuff. You don't have to jump through all the hoops. Essentially, everybody is approved.

And if you love that too and you want some more information, you can go to cashflow savvy.com. And there, you can download an investor's package. It's one of our investors' package. And that package will give you all the details, including a typical property profile. It's basically our minimum deal standards. Every property is going to perform to those standards or better.

It's going to give you the details on all of our guarantees, guaranteed cash flow, guaranteed rehab, and no property management fees for the first year also, all the while producing 16 to 20% cash on cash returns. Pretty awesome. So if you're ready to add another property to your cash flowing portfolio or if you're ready to pick up your first, this might make sense for you or not.

That's okay. I mean, you know your situation much better than I do, but the information is absolutely free. So what could it hurt to go check it out, right? So go to cashflow savvy.com, cash flow savvy savvy savvyy.com and download an investors package and then make your decision okay and actually i'm jumping on a plane to memphis as soon as i'm done with this recording to meet a couple of investors to walk them through their new investment properties i'm going to take a bunch of pictures

and i'm going to post them at cashflow savvy dot com so you can see all the the before and after picture some very recent pictures like as recent as this week as a recording right now okay all right So on today's show, I'm joined by fellow podcaster, investor, and friend, and I've invited him on to the show because I never really know where our conversations are going to go. I mean, I ultimately learn something from our conversations every single time. I mean, whether it's a new insight or a new tip or the latest productivity tool, what's the new cool thing that's increasing efficiency, or the latest book, or the last thing he really turned me on to was a new podcast that he's listening to. I mean, it doesn't really matter. It's always something. I just seem to leave our conversations with some sort of information that has me better

after the conversation than I was before the conversation. So today on the phone, I have one of the hosts from the very popular real estate investing mastery podcast right here on iTunes, real estate investing mastery of which you can subscribe to right here on iTunes, that's how you subscribe to mine. So please welcome Mr. Joe McCall. Joe, welcome to the epic real estate investing podcast. Hey Matt, how you doing? Doing very good.

Really happy that you're here and excited to talk about what you're up to these days. Thank you. Yeah, you bet. So I guess just, you know, I guess we're all have this obligatory starting place in an interview. Just kind of tell us how you got started investing in real estate. Oh, well, kind of on accident. I was working for a large, my background is. in civil engineering. And just out of college, I was working for a large engineering and construction

company building some power plants. And I was transferred out to California. My wife and I had just bought a house in Kansas City, moved out to the Bay Area. It was supposed to be for a two-year assignment. It actually turned out to be just 10 months because the project shut down. But we loved Northern California. But when we were out there, we decided let's rent this house out for a couple years. And then when the project's done, we'll come back and live in it. So I had no idea that renting my house out would be such a nightmare. I mean, we had a property management company, but it was really stressful. I mean, we always felt like I was managing the property manager. The rent was always late, and they called every three to three days every week for something

that needed to be fixed. And I got tired of paying a plumber, 30. $45, $50 an hour to fix something that I could do for free in 20 minutes, right? And then the property management company was keeping all the late fees. And I'm struggling every month just to pay the mortgage. So the job ended then early, and we had to come back, and we had no place to live because our house was rented out to these tenants we hated. But we couldn't kick them out because, you know, they always were paying their rent before the end of the month.

But, well, we actually moved to St. Louis right after that. And those tenants did buy the house a few months later. They did actually buy the house. But that was when it was easy to get mortgages. And I said to myself, I'm never going to invest in real estate again. This isn't for me. I don't like it. But then I read the book, the famous or infamous book, whoever you want to say,

the rich dad, poor dad. And what year did that? come out, by the way. That was 2001, I believe, 2000. I just looked that up actually the other day to see. How long ago did I read that? And I looked at the copyright date, and it had been 10 or 11 years. I may be wrong. I've not seen any research to do that, to say this. But I think that book will go down in history is one of the most influential books in the business world in history for good or bad. And I think that it had a... a strong contributing factor to the housing bubble.

And I may be wrong, but I know so many people whose life was impacted changed by that book. And so anyway, I read the book and got excited about real estate. Had some friends that were, this was in 2004, 2005. The market was sky hot, was doing really well, even in the Midwest, where I was at the time. And you just could not go wrong. I remember reading books and seeing graphs of the last 50 years of real estate, and it's always gone up. Real estate always appreciates. And so I just didn't think you could go wrong.

And I started buying a bunch of properties, and you know how easy it was to get loans back then? Well, another thing is I met this guy, a friend of ours, recommended, he said, hey, you've got to talk to this guy who's down in Austin building a bunch of of multi-families. And so I actually went down to go visit him. And I don't remember why. I just was really excited about real estate, and this was a guy to talk to. I went and spent a day with him. Oh, I remember a guy.

I was thinking about maybe buying one of his multifamilies. But he said there's two books you've got to read. Rich Dad Poor Debt, which I had already read. And the second book was Secrets of a Millionaire Landlord by Robert Sheiman. Secrets of a Millionaire Landlord is a good foundational book, entry-level book, but he has a chapter in there about lease options. And I got so excited about that because there's an avenue now that I could rent properties out and avoid the typical headaches you get, for the most part, on traditional landlording.

Because now you have a tenant who wants to buy the house, and they're going to take better care of it because they have a homeowner's mindset. they're going to take better care of it than a typical tenant. And over my years, that truly has been the case. My tenant buyers take better care of my properties. They may not buy the homes as often or as much, you know, as I thought they would at the beginning. But they do take better care of the house. Well, anyway, so I started buying a bunch of homes.

And I bought as many homes as I could. The banks still even had limits back then in 2005. What, like 20? And I think it was, I think it was 10 or 12, wasn't it? Yeah, I think it was 10. But my mortgage broker was telling me, well, it's easy to get around that because you just then, you bundle those loans into a business, a small business loan, right? And then you can start doing it all over again. But the bank started, they started saying, no, you can't do this anymore.

And you can't buy any more houses. So then I started buying a bunch of homes subject two, just taking over. existing mortgages. And I kind of, the reason I said the rich dad, poor dad will go down in history is one of the best or worst books. He taught a philosophy of good debt and bad debt. And I really, maybe I didn't understand it right, but I really bought into the line that debt is good as long as it produces cash for. flow. And so I was the philosophy that, you know, if I'm making $100, $200 a month, it's okay to have all this debt because these properties are always going to appreciate and I'll just refinance if I need more cash. And so I got into a world of debt, a lot of private lending. A lot of, I had a lot of private lenders on these homes and I didn't have enough cash in the bank for a rainy day. And a big rainy day came. in, you know, what was it, 2007, 2008, when it really hit hard.

And all of a sudden, I had a bunch of properties, a bunch of vacancies all at once. I had a bunch of, I had a serious cash flow problem. And that one or $200 a month in monthly cash flow disappears pretty quick. And now all of a sudden my private lenders are wanting their money back. these homes that I bought subject to, the sellers started wanting me to cash them out. Here's a crazy thing, Matt. The sellers started knocking on the doors of the houses and saying to the tenant buyers, hey, when are you going to buy this house?

The tenant buyers would say, well, who are you? And they would say, I own this house. And then the tenant buyer would say, I thought Joe owned this house. And then all of a sudden the red flags start going up. They start talking to their attorneys, and then I start getting letters. and then my private my private investors get nervous and there's not enough equity they're all upside down now i can't find another investor to replace them so anyway um i'd still that was my i made a lot of mistakes and one of the biggest ones i made was not understanding uh cash flow not understanding

wholesaling quick cash strategy she's right right um and getting into too much debt and um so that that was in 2008, 2009, and I was in a serious world of hurt. And I had a couple of rehabs that went bad. I lost a ton of money on these rehabs. I mean, I bought them right before the market collapsed. And I was trying to sell them right after the collapse. It was horrible. And they were big rehabs.

I mean, median price in St. Louis is 150. These were homes in the $300 to $400,000 to $400,000 range. Wow. Luxury. Oh, yeah. Yeah. Anyway, that's to make a short story long, my journey into real estate. And then from there, I started learning about wholesaling, and I'm sure we'll talk more about that.

Sure. But wow, you definitely went through it. You experienced it with everyone else, it looks like. Yeah, you know, I'll just say this. Things are a lot better now than they were before. I've been working full-time in real estate now for three years. and I learned wholesaling. I started really hang off my debts.

And things are a lot better now. But my credit took a serious hit. And so I'm still digging myself out. I have almost all of my private lenders paid off now. I never missed a payment on those subject to homes. But I got behind on my own mortgage and our own house. All of those homes I took over subject to, I deeded the properties back to the sellers with tenants in them, good tenants. I feel good about that.

But at the same time, it was, I just made a lot of bad investment decisions. I bought into the hype. I didn't understand the fundamentals, the importance of the fundamentals. And I'm glad to still be in the game. But I know a lot of people that really got sucker punched and are out of it and we'll probably never get back. We'll never get back in. Yeah, I run into those people every single day. It seems like there was a guy.

I've got a pretty unique offer going on right now with my wholesaling business. And I just knew this guy was going to be all about it because he was so into real estate, you know, maybe three or four years ago. not about five years ago when I last saw him. I just knew he was going to be all over this. And when I told him about it, he's like, nope, I'm not doing real estate, never doing it again. I mean, he's in some multi-level marketing company now, and that's his whole thing, and never wants to touch real estate again. Yeah. I was like, wow.

You know, I was reading an article. Well, I was reading an article in the, it was on the Dredge Report, and it was from my, I forget which website. But the guy who does the Schiller Home Index. some economist, it's a famous index for housing. Right. He's predicting it'll be another generation before we see houses come back to the levels that they were before. Yeah. It's, I don't know how long that is, 20, 30 years, but that's a big deal.

And I think you might be right. Right. It may be. But, you know, but you know what the thing is is, you know, people still need a place to live. and they still have to pay for that living. And so the strategy just changes, that's all. Well, you're absolutely right. And you know what else?

The population in the U.S. is not shrinking. Not by any means. No, I think I heard somewhere it's going to double by the year 2050, the population in the U.S. In the next 40, 50 years, it's going to double. Well, where are those people going to live? I mean, there will always be a demand for housing. When the market changes, you have to be able to change with it.

Do you remember that book, Who Moved My Cheese? Yes. Did you ever, I love that book. I read it when I was in corporate America. But it really had a profound impact on me because to be smart enough to know where your cheese went to and then be able to find it. It's a story written from the perspective of some mice. Right. And who realized their cheese had been moved.

and the smart mice went and found where the new cheese was or something like that. But that had a profound impact on me because when the market did start falling apart, I had a ton of leads that didn't have any equity from people who couldn't or didn't want to sell their house. And so I had no idea how to help them. I would throw these leads away. And that's when I discovered my favorite strategy of wholesaling lease options where So I changed with the market and I started looking at, well, okay, this stuff doesn't work anymore, but that doesn't mean nothing works anymore, right? And so no matter what the market's doing, no matter which market you're in in California or the Midwest or Florida, there's always, in my opinion, there's always a way to make money in real estate.

Absolutely. I mean, just the one statistic that you had mentioned is the popular. I mean, it's in the year, the year 2007, there are more babies born in 2007 than any other year in history. And, you know, we have the baby boomers that were so responsible for this last real estate boom, really. I mean, you're, you know, you hit your money earning years once you get near to your late, mid-40s and to your 50s. That's where most people earn most of their money and their incomes are really exceptional. And that's where the baby boomers were. And they were buying their second homes and their vacation homes and they were buying investment properties and they're upgrading their current residences.

and, you know, that really drove it. And then, but the, you know, you've got, what is it, the echo boomers right behind them, which is a bigger portion of the population in an smaller time period. I think the baby boomers are spread out over 14 years. Yeah. And the echo boomers are spread out over 11 years, but there's more of them in the 11 years than there are the baby boomers in the 40 years. Wow.

And then you got this generation that in 2007, there are more babies born than ever. It's like the pop, the demand is here. And when you got built-in demand, that's always a good investment. You've got to figure out how to make the work. Well, and you know what else, Matt? There will always be a demand for homes in California, Florida, Phoenix, and Vegas, these places where people want to live. Like, I don't know why people would want to live in Phoenix, but some people do,

and they always will, I don't know, the weather and the, you know, no allergies and stuff like that. But so there will always be a demand for housing in California. Anywhere where there's mountains or coastline, there's going to be a demand for those kinds of houses. Right. Absolutely. So the reason I had you on the show, Joe, is something very unique about you. And it's something that I really profess. And when I see it in somebody, I'm attracted to it.

And I love to talk to them because I love to hear people prove my theory is right. So, all right. But what do you have is you have a very focus, you have a very narrow focus on your investment strategy. Joe does one thing and Joe does it very, very well. And that's what I profess is that you find that one thing rather than trying to be the jack of all trades, just get really good. It's your one thing.

And you completely eliminate the competition. No one can compete with you if you're that good and that focused on one strategy. And you have a really unique strategy. You wholesale lease options. And that's what I wanted you to talk about. about today and and how did you how did you get into well you I guess you kind of already explained it but I'm curious on the on the wholesaling part and how it all starts so let's just kind of start from the beginning and like how do you find your deals first off in what areas are you

looking well I'm let me tell you how I used to find my deals because when I was in a serious cash flow problem and my I I dusted off the all of the old courses and I started reading them again. And almost all of them said wholesaling is foundational element of real estate investing. You've got to learn wholesaling. And because that's what puts the cash in your pocket. You know, when you can have, you'd be doing a bunch of deals with big, you know, big back-end paydays. But what are you going to do to fill in the gaps? And so at the time, I remember thinking, oh, it's just not sexy. You know, I don't want to do wholesaling. I'd rather make a slow dime than a quick nickel.

But then I started realizing wholesaling's important. And this was at a time, too, and I was really frustrated. I was trying to be a jack of all trades, doing all these different strategies and not having much success. And I just decided, you know what, I'm going to pick one thing. And I actually bought, I said, I'm only going to buy one more course, and I'm going to do what it says. I actually bought two.

One of them was Steve Cook's course on wholesaling, wholesaling, wholesaling, quick cash. And another one was Chris Chico's course on virtual wholesaling. And I just, I said, I'm going to do what these guys say. I'm not going to question it. I'm just going to, I'm going to send the postcards they say to send. I'm going to make the offers they say to make. And I'm not going to try to figure it out why. I'm just going to do it. And so my first deal, I mean, to my shock, it worked. And my first deal was a response to a postcard. It was a, I was actually mailing this person about another house closer into the city. She responded to me and said, I got this house way out in the sticks. It's about an hour to an hour and a half from downtown

St. Louis. And it's a three family. And she wants to sell it. And I can't get any comps. It's in really bad shape. And it's actually rented. She collects the rent with cash every week from the tenants. It's one of those places. And she doesn't even have copies of the leases. And I told her, I'm just not interesting. She begged me to make an offer, and she actually called me like three or four times. I finally looked it up, and it had expired the year before for like 130, 140. And I couldn't come up with cops because there was nothing out there like that. And I didn't have any cash buyers in that area. And I just said, you know what, I can give you 50 for it. And you know what she said, Matt? Yes.

Yeah. She said, okay. Where can I sign the contract? I was absolutely floored and real nervous. And I sent her, I actually met with her. And I made sure her son was with her and she has an adult son because I didn't want to be accused of taking advantage of anybody. And I put every contingency I could think of in that contract.

I remember it was like two paragraphs of contingencies so I could get out if in case I needed to. If I had it under contract for 50, I sold it the next day for 65. And I mean, I just couldn't believe that it happened and it happened to me, right? I mean, this is stuff that I, that you only hear about at those, in the gurus when they come to speak at your local media. Right. You know, I only hear about these things happening to the late night infomercial guys. but it actually happened to me this stuff actually works

I was shocked I was Florida and I got real excited so I started doing a bunch of marketing and I'm a big fan big believer of direct mail marketing direct response marketing and so I started spending tons of money on postcard

and I was working a full-time job and I was forced to kind of outsource as much as I could So I started developing systems to get my marketing done for me in spite of me using virtual assistance and stuff. But now I had a problem of getting so many leads and I was throwing away a ton of leads. And I got tired of that. And I thought there's got to be a better way.

What can I do with these leads I'm throwing away? They didn't have any equity or if they did, they weren't willing to share any of it with me or they didn't want to sell their house right now. They could maybe sell it a few years down the road. so I started thinking about why can't and I loved wholesaling right and I loved lease options because options allow you to control property

without owning it. This is a time of my life I didn't want to own any more debt. I wanted to get, I didn't want another deed. Another deed was the last thing I wanted, right? So options, the great thing about options

is they allow you to control property without owning it. You get almost all of the benefits of owning property without owning it. without being obligated to the debt. And I think the only exception that I can think of, there's two exceptions that I can think of is, number one,

you can't borrow private money because you don't have the deed to the house, which is fine with me. I don't want to borrow any more private money against a house. I'm trying to get completely out of debt. And number two, you don't, maybe don't get the tax benefits by not owning the deed to the house. So for me, I mean, big whoop.

But so I loved options. And so I asked myself, why can't I wholesale lease options? And I can get these properties under a contract to lease option them. And then I can wholesale that contract to a tenant buyer, somebody who wants to live in the house. And I didn't invent the strategy, but I'd never heard of anybody else doing that before. And so I started advertising to friends and to my local RIA, I'll do a lease option on your property, and I'll just keep $500 of the option deposit money

if I find a good tenant buyer. And a lot of people started saying, yeah, okay, you can do that. And I realized pretty quickly that that's a lot of work for just a little bit of money, right? And my virtual assistant at the time, who was a lady in Indiana, said to me, Joe, this other guy I'm working for does something similar to you, and he's making a lot more money,

I think, than you are. You might want to give him a call. And I thought, okay, and I looked up his website, and he's doing the same thing I'm doing. So I call the guy up, and I find out he's keeping the entire option deposit money, and he's doing these deals down south in Atlanta, but he's doing them from his condo in Florida. He's got this condo overlooking the ocean, and he's flipping these properties, you know, a thousand miles away with just a cell phone and a laptop. And I thought, this is really cool. And so I started digging into it. I started implementing it in my own business. And keep in mind, too, this was at a time when I was just starting to see some breakthrough. At the same time, I had this full-time job that was, I was working 60 hours

a week on. And I was trying to be a good dad, a good husband, and I was failing miserably. And I always came home with this tremendous guilt when I'd come home from work because I'd spent half the day at work doing real estate stuff. I mean, I was getting good performance reviews. I was getting my job done, but I was not giving my employer 100%. And I always felt really guilty about that because they were paying me to work 40 hours a week. And I was working 20 to 30 hours a week. And it's kind of funny maybe my last day at work.

They told me, hey, Joe, if you ever want to come back, you know, if it doesn't work out. And I thought, man, if you only knew, you would not want me to come back. And so I always felt really guilty about that. I really, really wanted to work for myself. I wanted to be an entrepreneur. I wanted to have my own business. But I just had no idea how to make it work for me. I'd seen it work where I'd have a few deals here and there.

I'm going to make some great money, but it never really is something that, you know what, I can make a full-time income from this consistently every month. Well, anyway, I started wholesaling these lease options. And within three months, my part-time income doing that surpassed my full-time income. And I got really excited about that because now this is something that is pretty consistent. I can do these deals pretty regularly. And I was spending about 10% of what I was spending before on marketing. I stopped doing direct mail, and I just started focusing on finding leads in Craigslist.

And so now my only marketing expense was my virtual assistance. And I had these VAs now that were doing the marketing for me. And so that's when my life completely changed. And I decided to take the big leap of faith. And I quit my job and started flipping lease options full time. And I think what you said is real key to Matt. And you had an episode, I wish I remember which one it was on your podcast about focus. And it's an episode where you talked about your funny story of the tax lien sale in California.

You remember what episode that was? probably in the teens somewhere 15, 16, 17, something like that. Yeah, if anybody listening to this, if you've not listened to it, you should go look it up. And you just talked in there, I thought it was really, really good about how you need to find a strategy and focus on it and work it until you get it. And it's okay to then branch out into new strategies, you know, once you got one down. For what I do, a lot of people just use it as a tool in their tool belt, right? But it's also a great strategy for a full-time income, just flipping lease options. And the great thing about this is you can do this virtually anywhere in the country from anywhere in the world.

And, I mean, you have properties all over the U.S., Matt. I'm in Europe. I'm in Prague right now flipping these lease options in St. Louis and in California. and that's the I love this business because it gives me the freedom to live the life that I want to live. Right. Right. Awesome. So let's go through that just for someone that might not even know what a lease option is.

An option is, you know, you're purchasing the right to purchase the property somewhere down the road, but you don't actually purchase the property. Right. Okay. And so when you find someone that's a viable client or a viable prospect for your strategy, so you pay them an option fee first. Is that correct? Yeah, it's usually $1 or $10. You have to have, it has to be some kind of consideration.

You have to pay consideration for a contract to be valid, right? Got it. So it's $1, $10. We're going to pay the seller to get the property under an option contract, which gives equitable interest in the property. Right. And frankly, any contract is really an option contract for the most part, right? Because even a sales contract, you're going to give yourself a few contingencies to get out of it.

It's what's called a unilateral contract, right? Only one party has to perform. So I have the option to buy the property if I want, but the instiller has to sell it to me if I decide to exercise my option at a predetermined price. Right. Right. So the people that you're getting to give you an option on their property, $1, $10, these are really motivated people.

You're finding motivated sellers. Yeah, but here's the cool thing I liked about it, though, is they don't have to be the super motivated sellers, like the lady who was willing to sell her house to me for 30, 40, 40 cents on the dollar. Right? So I don't have to find the most desperate motivated sellers, and I don't have to try to negotiate them down and beat them down in price. I can do this with people who are really motivated, semi-motivated, sometimes not even that motivated. They just are tired of being a landlord, and they want to rent their house now to somebody who wants to buy it.

So I do go after the motivated sellers. I mean, the more I've been doing this, the better I get at, if they're not motivated and ready to do a deal today, then I just get off the phone. You know, I put them in my follow-up list. So I really try hard to be off the phone in three to five minutes whenever I'm talking to a seller. I believe in building rapport. That's important.

I understand that. But it's probably more important when you are negotiating a really good price on a house. But what I do, my offer is real simple. I just ask the seller, what do you want for your house? Okay, I'll get it for you. Okay, that's what I, that's my offer. And so if they're not ready to to sign the agreement today, then they're not ready, and I'm not going to waste my time anymore my time with them. I'm going to move on to the next one. So the, that's kind of time. It's time, management, but it's also realizing that you're in business to make money today, right? If you're not, you have to focus your business like a laser on activities that are making

you money today. And many times we fall into the trap of over-analyzing properties, doing too much research. Is that those stuff that you think is important, you know, a lot of times I see investors fall to the trap of using too much social media for their investing business. And I believe in social media. But all that time that you're spending hours a day on social media, is that really making you any money today? Probably not.

What are some things you could be doing today to start making you money? Well, talking to sellers for one of them is a really good activity, right? Marketing. Don't get me started about marketing. big believer in that. We're not in the real estate business. We're in the sales and marketing business. So that is, that's what this is all about. And that's what we need to focus on as investors is getting leads, leads of the lifeblood of your business. And if you have a lot of leads, you're not going to have a problem doing deals. And depending on your strategy, the motivation

level, when you're doing options, you don't have to have the super motivated sellers that are ready to just give you their property for pennies in the dollar. You can do this strategy with a much wider range of sellers. Does that make sense? Yeah. No, absolutely. Absolutely. So your pitch to the owner, you're putting this under option for 10 bucks, and you're

going to go out and find someone to flip this too. So you obviously collect more of a normal type option fee from the person you're flipping to. Well, yeah, and I create, this is something I'm starting to do more of lately. I am starting to create more and more notes, and that's something we can talk about maybe later. But what I do, though, is I take the option. I have an option now on this property, and I can sell that option to somebody else for any price I want. I mean, I could sell that option to anybody I want for whatever I want. And the option spells out the terms of the lease option, right?

The price of the home is going to be this. The rent's going to be this. The rent credits are going to be this. They're going to have two years to buy the house or whatever, right? Right. That's all spelled out. Now, I'm going to go out and find a tenant buyer. Now, I am not a realtor.

I am actually working on getting a license. I've already taken the test. When I get back to the States, I'm going to finish all of that mind-numbing paperwork. So when I get back, I'm going to become a realtor, but I'm not finding tenant for the seller, or I'm not finding a business for the seller. I'm not matching these two people together because you need a license to do that.

But what I am doing is I have a property under contract. It's just like wholesaling, a traditional wholesaling view. I have a property under contract and I'm selling or assigning that contract to somebody else. Now, I do recommend hiring realtors to help you do the marketing, stuff like that. But then that realtor now, is representing me.

They're representing me, and they're selling my option on that property. So anyway, that's kind of how I, that's one of the reasons why I can outsource so much of this because I have the VAs to the marketing for me. I now have VAs that are actually talking to the sellers, and I have local realtures that are selling the homes and marketing the homes for me.

So that can, you can literally outsource 75, 85, 95, 90% of this, business, if you have the systems in place and you know what you're doing. So, okay, your question is, how do I get paid, I think? Yeah, there you go. Okay. Well, I have the property under an option now for, I put down $10 to get that property under an option. I'm going to advertise that house.

I have the seller tell me what they want to walk away with. And let's just say they say, I want $150,000 for this house. So I'm going to advertise that option for, well, I'm going to set the option price maybe at 160. So the seller wants 150. I'm going to bump that price up to maybe 160. And that's going to cover my profit, the option deposit that I'm keeping, and the rent credits that the tenant buyer is going to get to cover their closing costs. Right. So I'm going to now advertise the house as a lease option for a tenant buyer.

And a tenant buyer, sometimes I advertise what kind of option deposit I want. Sometimes I won't. Sometimes if I know it's going to be a harder house to sell, I won't advertise a specific number because I'm willing to create a note for that option deposit. So anyway, I'll advertise it for an option price of $160,000 for rent of $1,000, whatever the seller wants. So again, I'm wholesaling this contract. So I do not stay in the middle. I'm completely out of this deal once I assign my contract. All my liability and responsibility is gone.

It's removed. So I advertise that now as a lease option. And the money that the tenant buyer puts down goes to me, but I set it up in the paperwork where that tenant buyer will get that option deposit back as part of their future down payment or as a credit to the purchase price if and when they buy the house a year or two down the road. So basically assigning my lease option to the seller. The seller understands, everybody understands up front how I'm getting paid.

They understand that I'm not hiring anything. The seller understands. And I keep my options flexible, too, so they're not closed. In other words, the seller can still sell their house and still rent it on their own. And if they do sell it or rent it before I do, then they can cancel my contract. And I don't get paid anything. So that's one of the reasons why I do lose some deals that. way, but I think I gain more deals.

I do more deals that way because I'm willing to, I'm able to sign up more sellers because of that. Sure. There's, there's the big answer for the $1, $10 option. Right. Right. Awesome. And I find that, you know, like you said, you will lose some deals, but, you know,

if you're dealing straight with people and you're not, you know, strong arming them, you'll probably get more deals will work out than not. well here's the cool thing that you can create notes for these options and then that's something that I'm really starting to focus more and more on one of my mentors his name is Claude Diamond he he's taught me this and I've known this for a long time but it wasn't until just like recently a few months ago that I started thinking more and more about this and there's a lot of deals that I have lost because I waited to find a tenant buyer who had a large option deposit.

And if I would have accepted somebody that had good income, but maybe didn't have the large option deposit I wanted, if I could have taken whatever they have then created a note to cover the difference, I would be sitting on a very nice. nice pile of monthly residual passive income. And the more I do this business, you know how important cash flow is and income, passive income. Everything. Now, you could, right. Now, you could argue, well, okay, you know, that's not really passive income. Maybe you're right, but I looked at the numbers. And if you just figured, I don't remember what they are exactly, but if you just created two to four of these notes every month,

at $250 to $500 a month per note, okay? You could be sitting on $10,000 a month coming in on these notes every month within 10 to 12 months. Right. Now, if you think about it, I mean, you tell the story of, I don't know if you've told your podcast or maybe you just told us. one of your goals is to is to get a house on Malibu, right? And what's your strategy for doing that? Yeah. Sure, we're on track for that too to hit it in November.

Purchasing rental property in the Midwest, and I'm really focused on Memphis right now, is that cash on cash is really good there. But producing or acquiring enough rental income there to pay a rental here in Malibu, a house that I couldn't afford. And, you know, we're talking a $4 or $5 million house. And maybe it's a strong word, but wouldn't. I don't want to. I don't want a $10,000, $12,000 mortgage when I can have the exact same lifestyle for a $6,000 rent.

And, you know, I got my rental property paying for that. Yes. Well, you know, honestly, Matt, it was that story. when you told us that a few months ago, that really got me thinking about income, a passive income. And I don't want to own a bunch of real properties. Even though the cash on cash return is great,

in my stage in my business and my life right now, I'm trying to pay off completely all my debts. So I don't want to own any more properties right now. But that's just my personal strategy and belief right now. But I love what you're doing, with the idea of creating cash flow. And you also said something one time that was really neat. I'd never looked at it this way before.

There's a big difference between, what did you say, earning $200 a month. Oh, the difference between $200 of cash and $200 of cash flow. Yes, yes, yes. Yeah, huge difference. Tell that again, this is really good. Well, sure. Yeah, $200 of cash.

you know, a lot of people will reject a passive income property or a passive income opportunity for $200. And, you know, maybe even the notes that you're talking about might be a perfect example as well. Right. They might turn down that $200 of cash, that cash flow because they mistake it for $200 of just cash. And, you know, $200 of cash doesn't have that much of an impact on our lives. It's a, you know, a pair of Air Jordans these days, and that's it.

But, and then it's gone. But $200 a month of cash flow, when you have to have to be a month of cash flow, when you actually look in our market and really, I mean, and it's going to be this way for a really long time that, you know, what it takes, how much money you have to put into the bank at the high, if go out and find the most aggressive, highest, most liberal savings account you can find, you know, and you're looking at you have to have a deposit of, you know, somewhere in the realm of $200,000, $250,000 just to create $200,000 of cash flow. So it's, you know, what's, what's easier to. do is or which one's easier to save $250,000 and put it in the bank so you can get $200 a month in cash flow or go out and write a note on a $5,000 option. You know? Yeah.

And all of a sudden. Absolutely. When you realize that, and this gets me excited, when you, when that clicks in your brain, the potential is huge. You could easily, if you, if I could, I could, I would love the, I would love the idea of living in La Jolla on a $6,000 a month house. Okay, so now, I don't want to spend my hard-earned money, you know, $6,000 a month. That's a lot of money, right?

I don't want to take my blood, sweat, tears, hard work, money, hardworking money to pay for that. And what I mean by that is I think your strategy of finding investments that could give you that kind of cash flow that would pay for that, I think is really a wise investment and a wise use of your time and energy. So what do you do? I think there's two main ways in real estate right now to get to that kind of a goal. Number one is to buy properties that have serious cash on cash return solid. I mean solid cash on cash returns. And the numbers you're talking about, Matt, of $200 a month. That is after all of your expenses, right?

That's after taxes and insurance. That's after property management fees. And you're probably saving 15 to 20 percent on vacancies and repairs. You have all of your base is covered. Get this. In Memphis right now, I'm getting 20% cash on cash owning outright. No debt. I'm getting 20%.

That's right. That's just fantastic. There's no leverage. So it's like, you know, it's kind of a no-brainer. But anyway, go ahead. And then when you can partner with other investors and private investors and become partners on these deals, you know, then that's a whole other strategy. That's a strategy that I get excited about too. Okay, number one, I think right now is buying good, solid cash flowing properties, and they're everywhere right now.

So then the number two, I think that's really exciting, is creating notes. And you can create notes for anything. And it may not even be a lease option, but you might be able to, Claude, he was telling me a story. he just collected the last $2,500 on a note that he created on an option on a multifamily five years ago. Wow. All right. What had happened is he found a free and clear seller through his marketing. We had a multifamily.

They just wanted to get rid of it, but they weren't willing to drop it to as low as what Claude was willing to buy it for. Right? So you've got to think about deals when you're marketing is how can I make. make this marketable to other investors that I want to wholesale this to, right? Or how can I make this marketable to the retail buyer? So he's thinking about, well, what's more important to the seller? And he asked him, what's more important to you, price or terms? And I've heard you talk about this a lot. And the seller says price. I really want this price. And I can't go any lower than that. And so

Claude then said, all right, I'll get you that price if you give me my terms. And the seller said, okay, what are your terms? Well, whatever it was, I don't remember all the specifics, but he basically owner financed. He got this property under contract to owner finance it for like zero

down and $2,000 a month or whatever, but it rented for $5,000 a month, total, all of the units, whatever. So then he turned around an advertised it as a zero-down deal to an investor. He created a note for the down payment, all right? And he found an investor who was willing to pay $2,500 a month to him. So I think maybe the

down payment was $100,000, I don't know, $50,000. And so he offered to sell this property to an investor for a $50,000 down payment. And he just passed on whatever payments that the seller wanted. He just passed them on to the investor. And then he said to the investor, by the way, you know, how much can you put down now and how much can you afford per month? So he negotiated the terms of the note. But he also, to sweeten the deal for the investor, to make it more marketable, he advertised it as, I won't charge you any interest on this note. All right. So now this investor takes over this property and pays Claude $2,500 a month every month for five years on this note for this property. And even after making the payments for the note and paying the original owner, the monthly payments, he's still cash flowing really, really well.

Anyway, my whole point in all this is you can create notes on almost any type of deal. It may be something that you would pass up if you were trying to wholesale it traditionally, but maybe there's a way you could structure some kind of owner financing or some kind of lease option and still give the seller what they want if the long as they're willing to wait for it. And then to turn around and sell it to another investor, to a tenant buyer, to a retail buyer, and create a note for that down payment. I get excited about that because it does, it's not, it would not take long to make a skits passive income of over $10,000 a month.

And what could that do for you? I mean, that's $10,000 a month where if you wanted to take the next three months off and go to Tahiti, you could do that? that, right? Or you could go live in that $5 million mansion in Malibu if you wanted and not have to worry about making a payment, right? Because somebody else is making it for you. I love that. Yep. And if, you know, if you really, we talked, we kind of opened up the show talking about rich dad, poor dad, and his new definition of wealth was just getting your passive income to exceed your expenses.

Right. So I'd much rather have the $10,000 a month that I know is coming in every single month than, you know, then working to save the $10 million I have to put in the bank to create that $10,000 a month. And like what you said, I mean, you could, 12 months or less, you could create $10,000 a month in passive income, but how long would it take for you to create $10 million? That takes, you know, a lifetime if you ever get there. Well, here's the cool thing about options, too, is that you don't have to use any of your own cash for them. And you don't have to get a loan or a mortgage on them. You don't have to go out and take over the loan or get a new mortgage or use your own cash or use a private investor. Now, there's a place for that.

I understand that. But you can create notes on these options, and you don't have any obligations. I'm trying to get rid of all the obligations in my life, except to love God and love my family, right? I don't want any other obligations. I don't want to owe any man anything except to love, like the Bible says, right? So how can I do that in my business? Well, why not create these notes?

And, you know, the default rate, I don't know, 20% on the high end. Claude, he has probably literally at least a couple hundred notes because he's been doing this for years and years. His default rate, he says, is about 7 to 8%. So that is still even 20%, which is a high number, a high rate of default. That's still really good. That's income that you didn't spend any money for. or you're not using any of your own capital for. Right.

Right. Hey, let me ask you, when you create a note for an option, are you collateralizing that in any way? It depends. Now, you could if you wanted to,

but here's the thing. Let's say you collateralized it for some jewelry or a car or a boat. you know if that if that person who bought that option is facing really tough if they're struggling I don't know if I have the heart to kick them in the kick them to the curb and take their car away from them so you could collateralize it you can't you can't record at least I don't think you can or I don't even know maybe it's not the right thing to do but you you you probably should not record that note against the property. Because you don't own the property, right?

But maybe there is some way where you could do that. But so do I take personal guarantees, promise? And I don't. But I think it might depend on the deal. It's a big deal. Maybe I will try to do that. but I've not had a big note more than $500 or $700 yet. Well, here's the other thing that's real important when you're creating notes.

You have to have it set up where you get their credit card information, their PayPal information, and their checking account information. And I like setting up the payments to be automatically withdrawn from their checking account every two weeks when they get paid. So if they get paid every second Friday, I'm going to withdraw my half of my monthly payment, you know, whatever it is, every two weeks automatically from their checking account.

So they didn't even have to, I don't have to worry about them sending me a check or anything. It just happens automatically. So you'll find that that really helps a lot when you get it set up like that, where it's withdrawn from their account every month. So usually, and if they default on that note, usually it's because, you know, they lost their job or they're facing bankruptcy. And I could pursue that, but is it worth my energy and time?

You know, I don't think so. Maybe I'll just let those go. That's happened to me once or twice. Got it. Got it. But what did I have in it? What did I have in it, Matt? Oh, right. Totally. Just a little bit of sweat.

Yeah. Mm-hmm. Totally. No, I like it. It's, uh, I'm thinking of a couple opportunities I'm working with right now where maybe if I create a note, I could actually close those deals like maybe as soon as I get off this phone call. So, so, here's the thing. How long would it take you? What, what if you just started creating notes to get to your $6,000 goal? Mm-hmm. Mm-hmm. Well, that's, that's, that's. It's somewhat of the strategy I'm doing in Memphis right now. So I'm definitely on the same wavelength. I'm just, you just kind of opened up my eyes to maybe a couple other areas

where I could do the same strategy in. Yeah, yeah. Yeah, definitely. That's a great thing about creative real estate is you get to be creative. And if you can think outside the box, and here's the thing, we're talking before all of this, about finding the strategies that work in this market.

Maybe creating notes, was the best strategy when the market was screaming hot. It wasn't a bad strategy, but now it's a really good strategy, I think, because there's a lot of people out there who can't sell their house and a lot more people who can't buy a house because their credit is shot. But they want to buy a house. They want to sell their house. They're good people. Bad things happen to good people. They lost their job. They have medical bills that they can't pay for. They don't want to rent another house. They want to buy a house and they need another chance at home ownership. So they may have really solid income, been on their job for 10 years, but they had a spouse

lost a job or they went through the bitter divorce. Something bad happened. And they don't have maybe the $5,000, $10,000 that you want for the deposit to lease option a home, but they have the income to pay for it. So why not take out a note on those properties? So you could sell these notes, again, like we've been talking about, to the 10 of buyers or to investors and even retail buyers. Right, right. Have you thought of even selling the notes?

Well, that's, you could, yeah. You know, so many investors that, I don't think it's as hot of a strategy that used to be. But I remember a few years ago that one of the hottest strategies was going out and buying notes and finding notes and negotiating them and buying them and selling them to brokers making money as a middleman or whatever. Well, why not

just create your own notes? So that's maybe an exit strategy. You could go out and sell these notes once you have them under contract and they've been performing. You need some kind of history before you can sell it. Right. Indeed. Awesome.

So tell me, you are in Prague right now, and you are out there, are you out there to prove a point, or is it an experiment that you can flip remote? Tell me about your journey and how you ended up there and what you're doing out there. Well, we lived in Prague. This is the Czech Republic. That's not Czechoslovakia, the Czech Republic. And Slovakia, they're two different countries. Now, but anyway, we were out here in 98. My wife and I got married when I was in college. I did a student exchange program in the Czech Republic, and we got married. A week later, we moved out here into Prague for six months.

And we really fell in love with the city. It's a gorgeous city. We've made a lot of different friends here. And we, you know, we took six months. I took courses in English. And we've always wanted to come back. And so we talked, we have four kids. And recently we were talking about, well, why don't we go back to Prague? But we can't go for like a week or two weeks. You're taking that many kids. It's a difficult challenge. It's a challenge traveling overseas.

Well, we thought, why don't we go for a couple weeks? I'm sorry, a couple months. Why don't we go for a couple months? So I got online, you know, homeaway.com, and I found some really incredible flats or two-bedroom apartments right in the heart of Prague in the best areas for very reasonably priced, furnished and everything, right? Just minutes of walks, you know, minutes away from the most beautiful places and things to see in Prague. So we said, let's do it. And my wife homeschools our kids. They're eight, six, three, and one.

So she homeschools the eight and the six-year-old. Wow. And so we said, let's do it. And I decided to, I'm already flipping properties virtually in St. Louis, right? So in St. Louis, I don't go see the home or meet the sellers. I don't even talk to the sellers anymore. But so I'm already doing this stuff virtually in St. Louis, right? So I thought, well, why don't I do, start, open up a new market, whatever, and start

marketing in a new market. And so I started thinking more about that. And I thought, well, why don't I blog about it? Because I love to teach. I really do. I make very good money flipping real estate, but I also make good money teaching and coaching people how to do what I'm doing. And I really enjoy that.

I find it honestly, I find it more fulfilling to teach and coach than to actually do deals. But I still do deals because I enjoy that as well. So I thought, well, why don't I create a blog and make it free and just kind of show people what I'm doing and how I'm doing it, not necessarily to prove that it can be done, because I don't want to set myself up, you know, like that. But just to kind of teach and to show people that, yes, you really can do this virtually remotely from anywhere in the world. All you need technology today, it's absolutely astound astonishing.

All you need is a laptop and high-speed Internet. And you could do this business from anywhere in the world. And we're on Skype right now. It's absolutely free to use Skype. And I have about three or four full-time virtual assistants right now that are doing marketing for me in this new city. And I actually blog about it. I created a blog at Remote Propertyflipping.com.

And I just, we've been here almost two weeks now. And the market is going full speed ahead. And we're getting pretty much inundated and overwhelmed with leads. We just did a batch of yellow letters and got about 15% response rate. Awesome. And we're doing a bunch of Craigslist marketing, emails, text messages, and cold calls. And we're getting way more leads than we can handle. So part of this problem is not been getting the leads, but is getting the systems in place to handle all the leads, right?

So, but I'm blogging about this. And, you know, my tagline is flipping properties with a laptop while traveling the world with my family. And so our goal is to at least once a year, maybe twice a year, go visit a new country somewhere in the world. And, you know, it's a big world. My kids, we live in a really nice suburban neighborhood in St. Louis. And there's a whole lot more out there than what we are living in. We probably are in the top 5% of the entire world for wealth. Right?

I mean, when you look at how 95% of the world really lives, we are very fortunate in America to live the way we do. And so I want, I'd like my kids to grow up. Can you imagine going over the course of your life, visiting a new country every year. When my youngest daughter is 18, she'll be, she'll be, she'll be, have visited 18 different countries. So that gives me excited. I really think that's cool. I love the idea of what I call location independence, setting up life on my terms.

I'm part of this coaching program called Life An Air. Instead of Millionaire, it's Life An Air. And one of the things that really opened my eyes to was designing a business to revolve around your life. So many of us, we have our business. We have our 40-hour-a-week job. We have, you know, a lot of entrepreneurs are just really a slave to their own job. So our life then revolves around our business or revolves around our business. or it revolves around our job.

And I realize some people don't have a choice. They have to do that, right? But why can't we design our lives first the way we want our life to be? You know, I want to be home and have lunch every day with my kids. I want to be able to take them to the zoo on a Thursday. Or I want to be able to travel the world and go somewhere for two months, right? Right. So I wanted to design my life first, create a vision for my life,

and then secondly, design a business that fits around my life. So it's a matter of controlling and dictating life on what's most important to me, my priorities, my values. And then I want to have a business that supports my lifestyle, not trying to have a life that supports my business. So that's what I'm trying to live out here.

and you know I'm learning as we go it's it's really awesome one of my kids the other day said my wife asked them what do you like so much about being in Prague and one of them said well we get to go do a bunch of things together as a family and we get to hang out more with dad that's cool

every day almost we're going and doing things and seeing the cities and traveling. We were in London. We're going to Italy in a couple weeks. And there's just a gazillion things to see and do here in Prague. And I'm trying to limit my work to only three to four hours a day. And we take a lot of time off to go see things and do this.

And we get to help and volunteer at this church, this English-speaking church that's here in Prague, which we really enjoy as well. So that is kind of what I'm doing. this blog, I'm going to be updating it regularly with my progress and what's going on. And it's not going, the blog is not going to end when I get back to St. Louis. I'm going to still continue doing marketing and trying to do deals in the new market even after I get back to the States. So it's going to be something I'm going to be continually updating and sharing a lot of really good, valuable free content with this blog.

well joe that's exciting you don't hear that story every day so congratulations for you i mean picking up a family you got what five kids four kids yeah we're collecting them you're collecting them got it four kids and wife said let's go do it and very inspiring awesome and if if they want to follow along the name of your website is again remote property flipping dot com remote property flipping dot com got it And the reason why I called it that is because I really like the term virtual wholesaling, but that term doesn't really resonate with European audiences. And I wanted to create a blog that even Europeans, specifically people in England and people here and even the Czech Republic, can look at this stuff and think,

you know what, I could do this here in my own country, even though the laws and real estate are completely different. They're not handled the same. I think any place in the world where you can get a property under contract to buy it, you can sell that contract to somebody else, right? I think the fundamental principles are the same of marketing, of negotiating sales and things like that. They work in any country. But the cool thing is a European could take this and start implementing it even in their own country.

or if they wanted to, Matt, they could start flipping properties in the U.S. And that's what I think is really exciting. Somebody who really gets a hold of this and can take bold, decisive, massive action, even somebody in England can start flipping properties just like I'm doing in the U.S. Where there's a will, there's a way.

and so if I can do it and with all the mistakes I've made and the struggles that I have, I really think almost anybody can do it. That's awesome. It's awesome. Go for it. Absolutely. Just go for it. Life is so short anyway, you know?

That's sweet. You know, I just had my first son and just the idea of, I think, I think when I was growing up, I had met some kids here and there, maybe one in elementary school, one in middle school, one in high school, that they'd been to so many different places with their family. And they just, there was just something so unique in cool about them. You know, they just had a different posture, a different attitude, a different look out on life.

And, you know, I think that's one of the greatest gifts that you're actually given to your kids right now is just that exposure to worldwide culture and different areas. That's awesome. There is a great blog, and I haven't read it in a few weeks, but it's called DiscoverShareinspire.com. Discover, share, inspire. And it's about this family of four or five kids. I don't know what it is.

We're traveling from Alaska down to Argentina or Chile, whatever the most southern country is, and they are in South America. and they're driving the whole way in a truck and camping the whole way, driving their diesel truck with vegetable oil. And they're blogging about it on their whole way down. And it's an amazing blog. And if anybody is interested in that sort of thing, they definitely have more experience in traveling with kids than we have.

But the cool thing is there's hundreds or maybe even thousands. of people out there that are doing something similar to what I'm doing, and they're blogging about it. And you go find them and read about their journey. There's a great podcast I also listen to called the Lifestyle Business Podcast. And it's based on a similar concept. These guys have a business in the U.S., but their staff is spread around the entire world, right? And they can live anywhere they want. And they have, with the power of outsourcing and the internet, you can literally have a business that you can run from anywhere in the world. So there's no more, there's no limits. You don't have to be tied to an office. You don't have to answer to us. You don't have to, you know,

we were in Colorado back in July. And we decided to go for, I think a week or a week and a half to hang out with some friends. And then we just decided the last minute, you know what, let's go to Estes Park and stay for another week. And that's when it really hit me when I thought, you know what? How nice? How cool is it? I don't have to ask for a vacation. I can still do my job from the middle of the Rockies in Colorado.

My job, I mean my work. I can still do my business. I can still operate my business from Colorado. I don't have to ask for an employer for any time off. I don't have to worry about trading my sick days for vacation days or working. I remember those being so stressed out every year when I'd get my generous two weeks of vacation. I think planning my year out, well, okay, I'm going to use, depending on the 25th falls, right? So I'm going to use one or two vacation days here.

And we're going to use one or two vacation days here. and are we going to go to my parents or my wife's parents? So we can do anything we want now. And I think this is an exciting time to be alive. It's an exciting time to be in business. Indeed. Well, awesome, Joe. I think this is officially my longest podcast ever.

So congratulations. Thanks for being a part of it with me. Time flies when you're having fun. You can split it up into two podcasts, if you like. Yeah. No, I'm going to keep this together. This is great. I'm going to let you go.

I got your buddy. I'm interviewing your partner here in the next 10 minutes. Yes, that'll be awesome. I'm excited to talk to Alex as well, and I'll definitely split those two up, though. Yeah, yeah. Well, say hi to Alex for me. Will too. Well, again, and that's Remote Propertyflipping.com where they can follow you along.

Yeah, yeah. And my other podcast, well, you probably already talked about it in the intro. Sure. But my other podcast is real estate investing mastery.com. Real estate investing mastery.com. And we just interview people and it's a good podcast. There's some really good real estate investing related podcast out there. And I'm just proud to be, I think, one of them.

You know, you've got a great podcast. Sean Terry does. There's some new guys coming up to have some great podcasts. I'm not worried at all about competition. I'm saying that with air quotes because there is plenty of deals out there. And I love having the variety of perspectives. And there's a big need for good quality real estate education out there. And I think podcasting is a great avenue to share those kinds of resources.

We have listeners from Afghanistan, from Korea, I think South Korea, probably, right? It's amazing. Have you ever looked into your stats to see where your listeners are coming from, Matt? Yeah, it's amazing. All over the world. It's absolutely astonishing. Absolutely. Anyway, thanks for having me, Matt.

You bet. And definitely I want to do this again, okay? So you open to that in the future? Definitely, yeah. Perfect. Maybe when you get back to the States, you can share more about your story and how many deals you did from Italy. From Prague. Okay, all right.

Well, you're going to Italy, though, right? Oh, yeah, yeah. We'll be there for probably three or four days. Perfect. We'll have a blast, dude, and we'll chat soon. Okay, take care. Thanks, Matt. Bye, Joe.

Bye-bye. So, until next time, as a very very, A very wise person once said, may you live all the days of your life. To your success, I'm Matt Terrio, living the dream. Now, I've experienced my share of real estate gurus and tried to learn from a lot of different people. I've spent countless dollars on real estate bootcams. I have a library full of real estate books. But no one has ever put me into action quite like Matt and his academy.

I'm actually doing real estate deals and making money thanks to you, Matt. Your academy is the real thing. Thank you so much. I really appreciate all the help and effort that you put into helping others. Thanks and keep it up. Thank you for spending this time with Matt Terrio and the Epic Real Estate Investing Podcasts. When you have a moment, stop by iTunes to leave your comments and let us know what you think of the show. And if you haven't done so already, get started investing today by visiting free real estate investing course.com.

To access Matt's free course, how to do deals, no money required. Until next time. To your success. To your success. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.