Epic Real Estate Investing - EPREI 048 : Wholesaling Success with Randall, Russell and Gabe

Episode Date: February 24, 2013

First, Matt breaks down the step-by-step process of coordinating the paperwork in a wholesaling transaction. Second, Matt interviews one of his coaching clients that failed to meet expectations. He received an invaluable education about what it takes to succeed as a real estate investor, and he shares that experience and those lessons with the audience. There is plenty to learn from the those that have succeeded, and there is just as much to learn from those that are still pursuing their success. Enjoy this "must listen" episode. Download Matt's free real estate investing course at FreeRealEstateInvestingCourse.com SPECIAL ANNOUNCEMENT: CashflowSavvy.com is now open for business in the mega-cash flow market of St. Louis. For more information, download a free investor package at CashflowSavvy.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Without further delay. Your guru. Sorry. Your guide to a better life through real estate investing. Matt Terrio. Hey, this is episode 48 of the epic real estate investing podcast, and this is Matt Terrio, the rat race escape artist. Change one thing, one time, and you two can escape the rat race.

And that one thing is, it's my new mantra, by the way, and it has set me free and it can set you free too. And it is stop focusing on making money and start focusing on creating cash flow. Residual income, that's where it's at. It's the new definition of wealthy. Cash flow is the new black, so to speak. It's the new definition of financial freedom. And it can be yours too with just a change in your focus and then action corresponding with that focus.

And if you want to get started today, I'll show you exactly how I did it and I'll show you for free. Go to a free real estate investing course.com and download the free course. How to do deals, no money required. And I'll show you the two easiest and fastest strategies in real estate to start making some cash so you can start turning that into cash flow. Those are the two easiest and fastest. Not to be confused with easy and fast, okay? I'm never going to tell you that this business is easy and it's get rich quick. But they are the two easiest and fastest strategies in real estate to start making some cash so you can start turning.

that into cash flow. And that course is yours for free at free real estate investing course.com. All righty, I'm coming to you live from downtown St. Louis. Maybe you can probably hear it in my voice. I'm sure you can, but I am sick once again for the third time in three months. It's getting very annoying, but you know, I've just decided to ignore it and just go on about my business. So here I am in downtown St. Louis, checking out a new market for my turnkey cash flow operation, cashflow savvy.com. And I've been out here for a few days, actually two days, hanging out with a podcast listener and coaching client, Brad Donnelly.

And Brad Donnelly lives here in St. Louis. He runs Einstein cleaning services. They do carpets and hardwood floors and refinishing janitorial work. They are the genius of cleaning. That's their slogan. I think that's pretty clever. But Brad has been really awesome. Big shout out to you, Brad, by the way.

Thank you very much for your hospitality and sharing your local knowledge with me. And thanks for taking me to your family restaurant as well. Joy is. The hot salami was off the hook. So if you happen to be here in St. Louis, South St. Louis specifically is where Brad's restaurant is. I highly recommend you look up Brad's family restaurant, Joyas. And stop by and get you one of their famous hot salami sandwiches. No, that is not a commercial.

That's just my personal endorsement. We haven't changed anything here on the show. but Joy is was off the hook. So thanks, Brad. Thank you very much. Over the last couple days, I've taken a tour of the market here in St. Louis and assembled two awesome teams here of which I'm ready to open up shop. I'm ready to open up shop here within the next seven to ten days.

That's how much this market has impressed me and the people that I've been able to meet. I mean, the cash on cash returns here are strong. And you can still purchase well below replacement costs. And the demand for quality rental property is actually very high here. and this is a market very similar to Memphis, and we've had an awesome run in Memphis over the last nine months or so, and we'll continue to. I mean, Memphis is still going strong, and we're not leaving.

We're staying there, and we're just going to continue to diversify, creating a very stable portfolio for ourselves and for our cash flow savvy clients. And if you'd like to get more information on our turnkey cash flow investments in Memphis, in Columbus, Ohio, and now St. Louis, Missouri, you can visit cashflow savvy.com, and download our free investor package. And I'll show you how to invest in real estate at the Epic Pro Academy, or I'll do it for you at cashflow savvy.com. All righty, we got some new comments over at iTunes.

This comes from Real Prosperous. Matt's guidance and wealth of information makes this process a very interesting and valuable path towards attaining true success. No BS. I love that. Straight to the point and full of great recommendations and tools. Thanks, Matt. I follow this and your do-over podcast religiously.

That comes from Felipe in Austin, Texas. Felipe, thank you very much. S.O.J. Army. Matt is awesome for sharing his wisdom. Keep giving him great reviews, so more folks can enjoy and benefit from all the gold nuggets here. Well, thank you, S.O.J. Army. I appreciate that.

And then from Josh in Salt Lake City. His headline is, why does Snoop Dog carry an umbrella? Fo drizzle, he says. This podcast, as well as the How to Do Deal series, makes it rain with info to help you escape the rat race. It's well worth your time to check it out. Matt freely gives a ton of info, scripts, documents to help you succeed in real estate investing. Don't miss out on this one.

Thank you very much, Josh, for that. And then from Studio Mini, Excel Recording Studio. Thanks for all the great info. Please keep it up from New York City. Thanks. That comes from Pete. Pete, you're welcome. Thanks for the comment.

And last one, great educational program from Craig Fu. Five-star rating. Matt, thanks for the inspiration. I am under contract and completing my due diligence on my second HUD property. I couldn't have done it without the juice you provide with your podcast. I look forward to the next one. Best of luck to you, buddy. Hope to cross paths with you soon.

Well, thanks, Craig Fu. Best of luck to you as well. And yes, I do hope we cross paths soon. Thank you for your comments. Keep those coming. I really appreciate those. I received a very special email this week also from Randall Trasca. Hopefully I pronounced that correctly, Randall.

And, you know, it wasn't just an email. Randall actually attached a YouTube video. And I know you can't see it, but I'm going to go ahead and play it for you. Hey, Matt, how you doing? My name is Randall. I'm standing here in front of my first ever house that I wholesaled. I got ready to hear my check for $12,000. And this feels awesome.

And I did it all thanks to you, thanks to Epic Real Estate. I got an hour commute to work each day, and I listen to it all the time. And also thanks to Mercedes for every time I called up with a question. Thanks, you guys are awesome. You are absolutely welcome, Randall, and thank you for sharing your success with me and everybody here at the podcast. And thanks for showing me your $12,000 check. I know you guys couldn't see it,

but he showed it to me right there on the YouTube video. Awesome. That's so awesome. And, you know, I was having a rough day, the day your email showed up, and it just turned everything around. It brightened up my day significantly and reminded me why I do what I do.

So, Randall, stay in touch, and let me know how else I can help. And then on the Epic Real Estate Investing Hotline, I got a question from Russell in Minneapolis. And Matt, this is a Russell from Minneapolis, Minnesota, love the podcast. My question for you is, where can I find a contract to do a wholesaling deal, whether from a lawyer or a title company, and what question do I ask to find that contract? Thanks.

Thanks for the question, Russell. Now, I don't know. I don't know of a specific wholesale contract. I mean, any real purchase contract is going to do the trick. So let's discuss basically, I guess, the two different ways of which you can wholesale a property. The first is where you find a motivated seller, submit an offer, and negotiate until there is an agreement of which you both would sign that agreement. Now, that property is under contract, and you are the buyer on this particular contract. And you don't need a special contract for this. Any standard real estate contract would absolutely work.

And I show you inside the free real estate investing course, how I fill out my contract to buy, including all of my contingency clauses. I give you all of that, which make the real estate part of this whole thing, the transaction part, very safe for you as a buyer. contrary to popular belief. And if you write up your contracts correctly, you're really never had any risk. And I show you how to do that in the free course. Now, once you have that property under contract as a buyer, and you'll sometimes hear this

referred to as the A to B transaction, but once you have that under contract, you acquire a certain amount of rights. They're called equitable rights, meaning you technically have some ownership in the property just by being in contract. It's a contingent ownership, but it's enough to where you do have some owner rights. And one of those rights are you can market the property. You can place an ad in the newspaper. You can place an ad on Craigslist.

You can blast out an email to your buyer's list. You can do a postcard mailing. You can market the property looking for a buyer. And then once you find one, this would be your B to C transaction. You'll write up a purchase contract, but this time you are the seller of the property. You're the buyer on the A to B contract. and then you are the seller on the B to C contract. And obviously this contract is going to be for a higher price than what you're paying for the property.

And this too is just a standard normal purchase contract. Like I said, I show you where I get mine from in the free course. Or you could just go to Staples or Office Max to their form aisle. They got them there. And you can use the contract you find there. Nothing really special. Now you have your A to B contract with you as the buyer and you have your B to C contract with you as the seller.

And what you want to do, though, you want to make sure that everybody knows what's going on. You've got to be totally transparent with this process, both your seller and your buyer. And you have to inform your escrow officer, your title agent, your closing agent of what's going on. And they'll go ahead and they'll just take those two contracts and they will coordinate the closing for you. And when the property closes, the difference of the buy price and the difference of the sell price, that goes to you.

So that's one way to wholesale a property. Another way is to assign the contract, to assign a contract. And it looks very similar as the first example I just laid out for you. You want to get a property under contract. But this time, instead of writing in your name as the buyer, you're going to write your name as the buyer and or assigns, your name and or a signee. And I've never really figured out the difference between assigns or assignee.

I think they're basically the same. I don't really think there is a difference. But I've done it both ways and I've never had an issue. and everything is always, you know, turned out okay. So to do this, you don't need a special contract, but I did have one created for assigning a property. I kind of put a template together, and that's the one I used over and over again.

And if you want a copy of that, you can have that. You can get that at Epicprod downloads.com. Epicprod downloads.com. I don't ask for your name or your email or anything. Just go there and click on the link. I think it's called Assignment Contract, and it will automatically download a PDF of a blank contract. to your computer.

All right, so again, once you have the property under contract, you can market the property. Now, when you find a buyer, you don't necessarily need to create a new purchase agreement. What you'll do is you'll complete a little one-page assignment of contract agreement, which you can also find at EpicPro downloads.com. Just click and download that at Epicprodownloads.com, and both of those docs are yours for free to use. Now, I must say, let me throw out a disclaimer there, I'm not an attorney. This is not legal advice. And I make no warranties or guarantees around the use of these contracts.

You should have your own legal counsel take a look at them first. And that shouldn't take very long or cost you too much. I mean, if anything, they're short. And they're pretty basic agreements in simple universal language. But I've got to put that disclaimer out there and, you know, have your professionals look those over before we put them into use. All righty? So as usual, I probably went into too much detail for the answer. But hopefully, Russell, that does answer your question.

and no special contract needed to wholesale. In my free course at free real estate investing course.com, I show you the one that I use most frequently, or you can go down to Staples or Office Max. You could probably just Google real estate purchase agreement and find one for free. I don't know. Or you can go to EpicProD downloads.com

and download my assignment contract, Epicprodownloads.com. So if you have a question that you'd like for me to answer here on the show, you can call 1-888-891-7-20. 1-888-8-9-1-7203 and leave your question there. All righty-88-891-7203. So today I've got another great interview for you with one of my coaching clients and his experience. It hasn't been so good, okay, but there's still something to learn from it.

And I'm sharing this interview with because, you know, he's just been gracious enough to share his experience with you. And I think there's really just as much to learn from great success as there is people that are going to be successful, that they're still on their journey. And on the phone, I'm joined by Mr. Gabe Stockton. Gabe, welcome to the Epic Real Estate Investing podcast. Thanks, Matt. Glad you're here, bud. Let's get started and just kind of tell me a little bit about yourself and your background

and what you do for a living. Sure. So I'm a builder by nature. I started out as a labor for a construction company. It was like 16. And ever since then, I've just been in the building industry, and I worked my way up. and ended up becoming a project manager for a very, very large national builder. And what we do is we build high-rise and mid-rise apartments, luxury apartment.

So we're currently building one in San Diego. I've been on that project for like two years. And before that, I just did one in Hollywood. And so, yeah, that's what I do. I built big new buildings. Got it. So you do the actual building? What's your role in the whole thing?

We are the, we're, generally what happens is a company will hire, you know, someone to come in and build it a general contractor. And what, what we do is we own the property, so we come in and we buy it, we're the developer. But then we also self-perform build it. So we have an in-house general contractor, and that's, that's the side that I work for is the self-perform division. And, yeah, so as soon as they get it under contract and close escrow, we're in there the next. day with plans and permits and we start digging footings and pouring concrete and framing and just all the way till the finish and working with doing key turnovers to the property management company and start to finish we're there.

Got it. So you said you've been a builder for a really long time. What is it about real estate that initially attracted you and what's kept you in the game? I've always loved real estate because, you know, I heard a long time. ago that we were in an honorable business. And I really believed to that when I heard it. And that's never changed. I still believe

we're in an honorable business. We provide homes for people. You know, and I always thought it was cool to build something from nothing. You know, when we come on these projects, they're usually dirt. And, you know, when we leave, it's a beautiful

building that people can live in. And I see families moving into them and, you know, hardworking professionals that just want to come home and relax and I don't know I feel good about it. Awesome. So you know when we first met I mean you're working for this other company and then when we first met you'd express an interest in and when to get out there and doing you know real estate in some capacity for yourself.

How long have you been thinking about that? About five years. I read Rich Dad Poor Dad probably along with a lot of people and as soon as I read that it just sparked something that was already there, you know, just that, that hunger for success and just freedom, you know, and getting out of the rat race once we knew what it was called, you know, and ever since then, you know, there was just a passion for, for, for real estate investing in the idea of it. So it's five years you've been thinking about it.

What's gotten in your way? Why did it take so long for you actually take that first step? Well, I did. I actually did the Rich Dad coaching program within about a year of, you know, reading Rich Dad, Poor Dad. I got into real estate right away. And I did. Actually, it was about six or almost seven years enough if I really think about it because I had my license for four years. And so, I mean, I got into real estate.

Right away, I got into real estate. But the way I did it was I got my license. And I started selling real estate as a. You know, as an agent, and did really well, and making good money and then the market, you know, just actually I was buying homes in Bakersfield. And, you know, top of the market and everybody's making tons of money and flipping houses and written them out and all kinds of stuff. And everything was great. But, yeah, the whole thing fell out, especially in that area. Right.

So my investment career ended abruptly due to a lot of that stuff going on. And then I realized, you know, being a real estate agent, you know, even though there was a lot of freedom and good money and stuff, it wasn't really the real estate investing, you know, that I had planned on doing. I thought it was different than what it was. And really, it was still a job. You know, he still had to show up every day. you still had to, you know, do those things. Like, there's nothing all with it, but it just wasn't exactly what I, you know, what the vision was.

Right. Right. I think I could. Oh, I'm sorry, man. I think I went around the question earlier. You asked me what took so long. So from there, you know, I did the Rich Dad program, realizing that I did the Rich Dad program. And at the time, I had very poor credit and no money, you know, no anything. and the only thing they teach in that, the program I took at least, was buy and hold strategies.

And I mean, I actually looked back recently, and the only thing that's even in there remotely about using other people's money or creative financing is less than a paragraph of, you know, just such a real quick mention of, you know, there's, there is other people's money out there, but really you want to use conventional financing. and that's really what they were pushing. So kind of, you know, at the time I didn't think creatively at all, and I didn't think there was any other options. So I took what I learned and I banked it and knew I would use it someday. But, yeah, I tried really hard to use what I had learned. And I just kept hitting the roadblock of financing. You know, I found some really smoking deals and some good cash flowing properties.

And I still knew that bigger-sold market really well. and was, I mean, I was finding great stuff, but long story short, it just could, I couldn't close a deal without the money. Mm-hmm. Mm-hmm. So you've taken the education, you're a real estate agent, and you went through the upswing that everyone else here in Southern California did. I guess the whole nation somewhat did. And it came crashing down. You've been looking your wounds for a while. What caused you to get started, you know, just right now?

It's that, you know, that, that dream, that vision of freedom just has never gone away. And I still just really wanted to exit the rat race, you know, and I still believe real estate investing as far as like passive income from owning real estate is the, is the, my ticket out, I guess you could say. You know, that's my vision for how I'm going to exit. exit working for other people. Mm-hmm. Cool. So with all the options out there, I mean, obviously took the rich dad port ad education, and I can imagine, I think we talked to you, you've read quite a bit,

few books on this as well, right? Yeah. Right. And then, so why did you think, what was it that clicked for you about the Epic Pro Academy and the one-on-one coaching program? Why did you think that was going to be the right path this time? You know, I had listened to the podcast and I'd stumbled across, you know, and then I'd been listening to your podcast and then two others. And I really, really felt like I could click with what you were saying and kind of your beliefs, you know, and your past, your history.

And, you know, I could really understand where you were coming from, I guess I could say. And anyway, you know, I, I, and what you were talking about was exactly perfect for what's going on right now. Like, no money, no credit, and you're still in real estate and you can buy and sell and actually make a living and eventually exit the rat race through your system, you know, and I read, you know, your program. I went through your videos and everything, and I mean, it all made sense, you know, and it was a, you know, so that's what intrigued me, you know, to reach out to you. Sweet. So going through the academy, you've gone through all the videos and through our coaching experience, any epiphanies or myths that were busted around real estate investing for you? Um, no, I can't say that. I don't think, I think right off the bat, it took me a good couple, like, three months of listening to those podcasts.

And, you know, I read not only your program, but a couple other ones, too. So I felt like I kind of somewhat understood enough, you know, the wholesaling and how it worked. And so, you know, getting through that was a big deal because, you know, being in the real estate game as an agent, you do not know anything about, you know, they don't teach you about other people's money or creative financing. all. You're actually taught not to go that route at all. So, you know, breaking some of those, those habits, you know, and those things that were ingrained in me was pretty tough at first. But I think by the time I came into the coaching program, I was really open-minded to what, you know, to creative financing and, you know, what you taught. So, no, not really any myths that were broken.

Okay, cool. Yeah, you brought up a good point because a question I frequently get is as people are getting started investing, they ask me, should they get their license? If someone asked you that question, what would you say? It just depends on what you want to do. As you taught me, I would say it depends. But, you know, it depends on what you want to do. But if you want to be a wholesaler, you don't need your license. Or really mostly a creative financing and creative real estate, you know, occupation.

you can do, you would not need a license. Right. What would you say, this is a question kind of off topic, but I think it's a good one. What would you say is the biggest benefit you got from having a license first? I learned about how to do contracts. Doing contracts is still even scary to me because, you know, sitting down and nobody likes to, you know, I learned words such as paperwork and authorized instead of seeing sign when I was in real estate because people are so afraid to sign things. You know, it has a negative connotation that comes with this.

So, you know, when even, you know, I was taught by you to do, you know, a letter of intent, which I love. It's so much either than the eight-page, you know, contract we do in residential real estate. but and eventually the 50 pages of, you know, disclosures. But, you know, it, it, uh, the contracts, I would say is the big thing that you can really get past. And just working with people and, and as an agent, you've got to know the market. Got to know statistics and, I mean, you know, to truly be successful or find some success. You need to know those things. And that really, really is the same thing with investing.

You got to know the market you're in. and how to present a contract. Absolutely. Absolutely. That would have been my exact same answer. Just working with people, you got to do that a lot, and then you got comfortable with the paperwork. And even that takes longer for some people.

Absolutely. Some people never get comfortable with it. And it's understandable. It can be intimidating. There's a lot of writing in there. Yes. So tell me, after a few months, we ended actually our coaching session just before the holidays.

Right. And just before the holiday. So what happened? What were your results inside of the coaching program? So my results right off the bat were really good. I started out, you know, I just full of fire and, you know, and piss and vinegar. You know, I just came in full with everything I had and started my marketing right away. I'd already put letters out.

and I was just religious about getting my signs up every day. And on Saturday mornings, I was out there getting signs up before the sun came up. And Craigslist ads, you know, just doing everything. And I was going to meetings, you know, I was just doing everything that you, you know, said to do or suggested to do even. And, you know, I had decent reasons. I had really good results off my, you know, off my letters. It's different for everyone. I know a guy that's gotten tons of deals off of signs, but nothing off of letters and nothing off of Craigslist.

And then you're about guys that just get Craigslist. For me, those letters really worked well. And I got a lot of people, you know, and I was meeting with people. And, you know, I started writing offers. And then I think I was just, I wasn't being very really. realistic with my time and I was, you know, I was, I was really shirking my job, you know, I hate to say like that and hopefully my boss isn't listening, but, you know, I, I really was. I was leaving work early and I was not coming in, you know, on time and I was, I mean, you know, just to be honest, I was really, I was really out there meeting with people and driving, you know, checking on properties and, you know, doing, you know, trying to, try to break into the real estate game. And I really had high. high hope to to retire by the end of the year, you know, and which I still don't believe was, you know, unobtainable.

And especially with your plan, I mean, you and me planned it out. And I think if I would have stuck to the plan, I could have hit it. But I knowingly strayed from the plan because I was mostly guilty about not being at work. And I felt like I'd been a little unrealistic with my time and how much time it was going to take. I was staying up super late. and I was just, you know, I just got really overwhelmed really quickly. And I think it's because I started out so hard with so much, you know, I don't want to say passion because it's good at passion, but I don't know.

I was kind of a shooting star, you know, versus a shining star that's just always there every day, you know. Right, right. No, definitely. And it happens. So knowing what you know now, looking back, what would you have done, differently? I think I would have started out a little slower. Even though that's, that's, that's, that's not my nature. I've noticed in the past, that's worked out really well with things that I've succeeded in. It's just kind of going in a more, more like a steamroller, just real slow and

heavy and strong, you know, versus just trying to pile drive through it. And then you're laying there tired after, you know, you break through the line. Sorry, a little football analogy. That's great. But, you know what I mean? And I just, I think I would have slowed down a little bit and used the less of, you know, my total energy. If that makes sense, you know, I used it all just right, you know, right out the gate. And then my biggest thing was not meeting with people or contracts. I think that really stops a lot of people, you know, or making offers or those things don't really scare me and, you know, a little bit.

but not to the point of stopping me, but my inner, my inner worthiness, you know, and I remember right off the bat, you know, it was said, there's two things, you know, it's either you think this won't work or you think you won't work. And right off the bat, when you're not getting success right away, the instant thing is, does this even work? And it's not like a direct thought that I was having. I wasn't just thinking how this won't work. It just was kept creeping in like, man, does this even?

work, you know, and really fighting that and pushing that back is tough. It was for me. And then due to that, I started thinking, I don't work, you know, and I really questioned who I was and my success, you know, my successes in the last couple years. Instead of looking forward, I was looking back. And I think that was probably my biggest mistake I ever made going into the coaching program I just should have started out a little slower and steady and given it, it sounds funny, maybe less time, but more just really like focused time.

And then I would have really focused on looking forward and focusing on the vision statement and, you know, just forward looking, not looking back in the past at failures and, you know, thinking about how you can't, I can't do it. and I don't know, it got me for some reason. Right. Right. And I just want you to know, Gabe, that you are 100% normal. Because what you experience is nothing out of the ordinary by any means.

And, you know, with real estate, I've come to know that it's not really the rabbit that wins the race and it's not the tortoise either. It's the consistent, focused person that really wins the race. And having going through this or gone through this all. I mean, you look back and you can see. It's just consistency and then it's focused time and it doesn't have to be a lot of time. It doesn't have to be, you know, staying up till midnight, working until two or three. It can be a couple hours of focus time consistently. Right.

Yep. And I agree with you completely. Yep. Yep. So good. I'm glad you got something out of that. And we ended up not doing a transaction, right? I did not do a deal.

And, you know, I consciously made the choice right about two weeks before the end of the coaching that I was just, I was going to finish the program and I even talked to you about it. And I just, I needed, I would decide to refocus back on my job and my work. I really felt that my, the position I mean, it's detrimental that I'm there every day, all day. And they expect a lot of hours out of me. And I kind of have to do a lot of hours because it was just the load that's on me. And even though it's backwards from what I really want, in the present moment, you know, that was just the most comfortable and most logical thing that I needed to do is just really focus on my job.

So, you know, it's unfortunate, and I really had to do some soul searching on why I went that route. For some reason, I just wasn't ready yet to fully commit to the program, you know, and that's that's what I came up with, you know, is just to be dead honest with myself. with you, that's what happened. You know, not to say that I won't take what I learned and use it. It's funny, I'm still meeting with people every week, wholesalers. I met with the lady last week and put an offer on a house because she had held on

my yellow letter from like four months ago and called me out of the blue and had a house that she wanted to sell. I went down to put a cash her off on it last week, you know. So I still believe, you know, I still believe in this thing and still soul-searching for when the right time's going to be to just dig it and go. Because once again, I don't believe it's always just going in a full force at any time. You know, the passion's got to really be there, the commitment, you know, to never stop. Right.

Right. You know, I think there's a lot of people listening that can really identify with you. And I know that because I talk to them and I all the time and I get their emails all the time. And one of their challenges is having that balance between the job that they absolutely need to pay their bills at the moment. where are they going to find the time. And my answer is always, you know, when it's important enough, you'll do it. You know, and sometimes a comfortable job can be almost your worst enemy, you know, because that comfort complacency, it's, it creates comfort in your life right now.

But, you know, as we all know, on this show, particularly in the conversations that we have, it's like the long term where is that going to lead you if you continue to do what you're doing, right now, what's your life going to look like in a year? Yeah. And what's your life going to look like in five years? And what's your life going to look like in 10 years? You know, so absolutely, we've got to do what we've got to do. Because, I mean, I went out and I had bad groceries for six months and didn't have any plans at all.

But I had to do something to eat. So I can definitely relate and I get that. But one thing I don't want you to lose sight of Gabe is why you got involved in the first place. Right. And I know you're married. And I gave you have kids. Yes? Yeah, I do.

I have two boys. You have two boys. And, you know, those are the things you have to think about as well. And I'm not saying that to ever suggest that you did the wrong thing, not by any means. You've got to do what you've got to do, and everyone knows their situation better than anyone else knows it. Right. But what I don't want you to leave with is, you know, to lose sight of what you once saw was possible for yourself. And now, for some reason, you don't see it as being possible right now.

So just to keep that always, keep that perspective because you're younger, 34, and I'm 43. I'm going to be turning 44 this year. And I just kind of look back. I wish I knew now what I knew when I was 34 years old. And so I'm speaking to you more from a place of wisdom and not a coach or not an instructor, but just time will fly by quicker than you could possibly imagine. and I know all the 43-year-olds, 44-year-olds out there listen to me right now are nodding their head up and down. And possibly the 34-year-olds are like, damn, darn Matt, you're being kind of hard on him.

But, no, but I have faith in you gave you a smart guy, and you're definitely got the work ethic. And, you know, you just kind of have to go back and rediscover your reason why. And very well, this might not be the right time, and that's perfectly okay. But just don't lose sight of, you know, what you want possible for yourself. Does that make sense? Yeah, it does. And I'm really feeling that, too. So, yeah.

Cool. Good. So based on maybe you've already said it, but maybe you can wrap it up in a nice little nutshell, for people that are listening to you that are relating to you right now. And what words of advice would you have for them as they're thinking about getting started, investing in real estate? You know, I'd say, I'd say if it's something that you really, really are seriously thinking about, I would talk to either your closest friends or your wife or, you know, a lot of times those people will hold you back or support you.

But the thing is, it's going to happen during the program, even, you know, just as much as it's going to happen before the program. So, you know, I came in with my wife's support, and that was huge. I mean, if I didn't have that, I would have never even made it weak, you know, because I was staying up late, you know, and she could have been getting on to me about it and for being married guys out there, you know, what I'm talking about. So, you know, that was really a big one, having her support. And also some of my really close, you know, friends that I trust had my back and truly believed in me.

And I shared my vision with him. You know, the vision that Matt helped me make, I shared it with them. And that was big. And they've really believed in me, you know, and that's advice I would give is really go into it with the right attitude. And, you know, I was really committed to it when I went in and I had lost sight of that during the program. But just be realistic about your time and your, you know, really set up some set times every day if you can to just do the program. and if you do it, it will work. I'm still so confident in that.

And what Matt taught me was, it's priceless because I will use it. And I still know that I'll find success with things I've learned from this program and from past ones I've done. And all the things that we do, I think it resonates in the future. Yeah, when the time is right, I'll be there. And anyway, yeah, that's the advice I got. Awesome. Well, Gabe, as I shared with you at the end of our coaching program, and this goes for all of my coaching clients,

once the program is up, you know, we're essentially buddies, and the phone line is always open to you. The email is always open to you. So whenever you feel like it's the right time, please get back in touch with me, and we'll pick up where we left off and see if we can't get you back on track, okay? I really appreciate that, Matt. And yeah, I know you've called a couple times, and I definitely appreciate that. You've been very supportive and, yeah, the program was great. I would definitely recommend it to anybody that's interested in bettering their future through real estate. Cool.

Thanks, Gabe. Thank you for sharing so authentically and coming up on the show. And having the courage just to talk about something that's, you know, it's important to you and it's personal. And to come on a show that we're always talking about success and money and you came up and you shared, you know, Hey, it didn't work out so good for me. And I really appreciate that because I want everyone to hear both sides of the story. I want them to hear why things do work and why things don't work. So very, very appreciated of that.

So thank you. Oh, you're welcome. I hope it helps somebody. Me too, and I'm sure it will. There's someone out there nodding their head up and down right now, I'm sure. Cool. All right, buddy. Well, get back to your day.

I'll get back to mine and let's stay in touch, okay? Yeah, we will. Thanks, Matt. I appreciate it. You bet. Take care. All right, you too. Bye-bye.

So Gabe touched on a few things. I want to mention real quick, Gabe talked about his belief. He went through periods of doubt, wondering if real estate investing even works. Well, that's normal. I mean, everybody goes through this. But the key is to not let it get to you, not to let it stop you. I mean, there's evidence all around that it works. You just got to hang in there. You know, success, it comes at different speeds for everybody. It comes at a different pace. Growth comes at different speeds for everybody. But what absolutely does work for everybody is consistency and persistency. You have to have your consistent and persistent action. And we've discussed that a lot here. And I'm not going to go into it again right now. But

whether you start fast like Gabe did or you start slow, the speed of what you start doesn't really matter. It's when you do, when you do actually make up your mind to get started, you just got to maintain a consistent workflow. When you've decided that you can really make that commitment to your business. You want to make a commitment to consistent workflow. And I show you exactly how to do that in the free real estate investing course too. I mean, I'd rather you do a little bit every single day than pack, say, your first day of the week. Rather than pack your Monday with a ton of activity and take the next six days off. For some reason, I mean, I've got my theories on it. I don't know for sure. But for some reason, those two approaches, although the work that you put in might be the same,

they do not produce the same result. Consistent and persistent action is what's going to get it done for you. I mean, just like Randall shared his success at the top of the show. I mean, a $12,000 payday for wholesaling his first property, Randall was persistent and he made it happen. And there's no doubt that his next deal is going to come much faster. And the one after that's going to come even faster. I mean, the more you do, the better you get.

And the better you get, the more deals you'll do. And it's just kind of self-fulfilling thing. But you've got to be consistent. And it will become second nature if you just stay the course. You've got to be consistent and persistent. And another point I wanted to pull from Gabe's interview is to set aside time to conduct your investing activities. Put it in the schedule.

You've got to put it in your calendar. Whether that's just an old-fashioned wall calendar or a day timer, a day planner, or you got your smartphone or you got your calendar online, you got to schedule your work to be performed consistently each day. That's what's really going to produce a consistent workflow. I mean, I have a coaching client right now with Chris. Chris is in the Navy, full-time, active duty. He's got a full schedule.

And he sends out his direct mail in the morning, and he places his ads in the morning, that he schedules it that way. So it gets done every day. And then he returns the phone calls that come in on his lunch break. And he has that schedule also. He knows on his lunch break, he's going to go ahead and chow down his food, and then he's going to go ahead and he's going to make the calls that came in while he was working.

And he visits motivated sellers in the evenings on the weekends. He's got that scheduled in. And because he does, we're only about, I think, maybe six or seven weeks into his coaching program. He just opened up escrow on his first deal. And I believe he just got his second offer accepted last night. He sent me a text on it, and I'll confirm that. But the point here is if an active duty seaman can make it happen with his full-time schedule, so can you. All righty.

Schedule your activities. What gets scheduled? gets done. So schedule it. All righty. So that's it for today. We're going to get to another awesome coaching client interview on the next episode along with more of your questions and comments. And if you have a question or comment or a concern, please share them with me at 1-88-891-7203. 888-891-7203. And if you're enjoying the show, and it would be a great favor to me if you stop by iTunes and left me a rating and a review that helps me out in the search results. It allows more people to find this show and it allows me to help more people. Okay. So thank you very much for

your time today. I know there are a lot of things you could be doing and you chose to spend this time with me and I don't take that lightly. So I just know that we're all busy people and I have the utmost respect for you and your time. So again, thank you. And until next time, as a very wise person once said, in essence, if we want to direct our lives, we must take control of our consistent actions. It's not what we do once in a while that should. shapes our lives, but what we do consistently. To your success, I'm Matt Terrio, living the dream. Thank you for spending this time with Matt Terrio and the epic real estate investing podcast. 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 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.