Epic Real Estate Investing - Freeze, Fiddle or Fight? | 985

Episode Date: April 11, 2020

“Are you frozen with fear and panic? Are you fiddling around trying to ride this thing out? Or are you going to fight and push through?” Matt Theriault In today’s episode, Matt reveals his 3-Step Action Plan that will help you to fight, push through, and position yourself for the emerging market opportunities! Tune in and find out more! Learn more about your ad choices. Visit megaphone.fm/adchoices

So we're still in this crisis. And the big question is, are you going to freeze, fiddle, or fight? This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate

investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit r-e-i-a-a-a-a-accom. Here's Matt. Hey, Epic Investor, it's Matt Terrio from Epic Real Estate, where we show people how to invest in real estate with an emphasis on retiring early. Retirement, it just takes too long to get there, and it doesn't have to be that way, so that's why we're here. This is the Epic Real Estate Investing Show, and if this is your first time here really glad you found us make yourself at home if you like what you're here make sure you hit the subscribe button before you go and if you really like what you hear go ahead and leave us a review if this is not your first time here welcome back and thank you for sharing this with your friends

and family i appreciate that more than you could imagine so i've got this feeling over the next 12 to 24 months or so i'm going to be able to multiply my successful case studies And not because I'm going to be better or I got some new tricks. It's just that I think the market is going to be working in my favor, in everyone's favor, if you know how to play it. And I'll give you my action plan for it. And it's the very one that I'm using for myself. And at the end, I'll also give you the cheat sheets that I'm giving to my students,

my clients, my private clients right now to navigate this shifting market. So the action plan is not going to make a whole lot of sense, though, unless we just kind of pause for a second and look around us. Let's take a moment and just kind of analyze what's really going on right now. You know, if we think about the current state of things, the crisis that we're all in, there's a lot of uncertainty. That's probably the worst thing about it. I mean, if we knew exactly when this thing was going to end and we're going to get back to

normal. I don't think the anxiety would be nearly as high, but just it's fear of the unknown, right? We just have no idea what's coming and how long it's going to last and how big it's going to get, how deep it's going to go. So right now, here we are, middle of April 2020, and people are just feeling an extraordinary amount of uncertainty. And it's just, it's such a tough place to be. And it's really tough. It's tougher for some, you know, people just aren't sure what's going to happen. But there are some certainties. There's some things we can absolutely count on. I can tell you with some certainty that in 24 months, it's going to be April

2022. And that reality for most people, it just feels like it's so far out. Like it's not even worth thinking about right now because of what's going on. And the other thing I can tell people with some great degree of certainty is that there will be a point. I don't know exactly when the point is going to be, but it's coming. I mean, it could be three months. It could be six months, nine months, 12 months. God forbid, it's 18 months or longer.

But at some point, we're going to pass this line, this line of demarcation. And I call it the survival line. And interestingly enough for those that get past this survival line, the other side of the survival line really often presents. an opportunity to eventually thrive. And, you know, prior to reaching that survival line, however, there's going to be a cleaning out that occurs. And part of that cleaning out is because some real estate investors, they're just going to,

they're going to spiral downwards for any number of reasons. But ultimately, it's going to be because they freeze in terms of zero response as to what's going on in the world. There'll be some investors that will be totally decimated even by what's going on. And if that is you, all I can just really say is that I'm thinking about you. You're on my mind. And please reach out because it doesn't have to be that way. But there's definitely going to be some fallout.

Yep, there's going to be some fallout from this. Some people are going to be hurt. and it's going to take a while for them to recover. They won't make it to the survival line at all, and I don't want that to be you, all right? So that's what some people are going to experience. It's going to happen. Now, there's another category of real estate investors

that will find themselves fiddling around, fiddling with this, fiddling with that, mostly playing defense, playing not to lose. and they will cross the survival line. They'll make it. And they'll make it all the way to that 24-month mark. They'll be sitting here in April 2020. But they'll be, you know, two years down the road

and in exactly the same situation that they're in right now or maybe even a little bit worse. And they will have totally lost two years of their lives. It's what happens when you fiddle. You know, they might poke their head up in, up in every once in a while every now and then to test some things, try this, try that, but then just hunker right back down if they don't see an immediate result. They're like, see, I told you that wouldn't work, and then they go back into defense mode.

For the most part, they're buying all the hand sanitizer right now. They're buying the toilet paper. They're grabbing up the beans and the rice and the pasta. It's funny how those are the dry goods that everyone gravitated towards. But they're staying low. They're playing it safe. to a fault. And then there's a third category.

There are some real estate investors that can recognize that there is an amazing opportunity, an abundance of opportunity on the other side of all of this. And so they're going to push through this. They're going to fight through this. They're positioning. And actually at some point, they're positioning for prosperity.

And there's three different types of real estate investors dealing with the exact same external stresses. And they're all three are just trying to get across the survival line for now. And as we as a society, cross the survival line, when it's going to happen, it's going to be when motivation and ambition overtake the fear society is feeling at the moment. But it'll happen. And when it does, it's going to trigger a few things. it's going to trigger certain things in the real estate investing world.

There's going to be a rush to market because people have pulled back on their marketing. And there's going to be a rush to market. They're going to reload and they're going to launch in a really big way. There's going to be a lot of pent-up energy and a huge awareness of the opportunity. And people are going to launch their marketing. They're going to reload and just go like crazy. There's going to be a rush for deals. People are thinking about this already.

In fact, they're already landing deals, like surprise deals, stuff just falling into their laps. Like, wow, I don't remember it being this easy. Where'd this come from? It's happened to me already. I've been sharing that with you this month. And there's going to be a rush for buyers. There's going to be a rush for private money. There's going to be a rush because it's going to feel so good and be working so well.

there's going to be a rush to expand to other markets to get bigger. There's going to be massive opportunity in all of those areas. And your results will all depend on how you are setting yourself up right now. You've got to start now. Because when we cross that survival line, you won't have time to make up for what you could have been doing right now. And the thing is, as we look at everybody's situation right now, all three of these different categories of real estate investors,

they're all kind of looking the same from the outside looking in. I mean, because they're all in their homes. They're all in quarantine. They're all homeschooling their kids. They're all doing the spring cleaning on steroids. They're cleaning out the garage. They're cleaning out their closets. They're waiting for it to all be over.

they're binging on Netflix, but there is a difference. It looks the same from the outside, but there is a difference, and that difference is what's going on internally with them. The difference is what is going on in their minds right now. So are you frozen with fear and panic? Are you hunkering down and fiddling around to try and just ride this thing out? or are you going to fight and push through and position yourself for the emerging market opportunities? And, you know, even when we cross that survival line, when the fear and the extreme caution starts to dissipate and confidence starts to return, the situations of those three still might look relatively the same to most people from the outside looking in.

but the fighters will have been positioned dramatically differently when we all cross. And those opportunities will be disproportionately theirs for the taking. And that difference, it all starts back here, where we are right now. Right now where the choices are being made. So this strategic time frame right now, I'm going to say with a certain level of confidence. It's two to three months. I think three months might be a little on the long side. It might even be a little less than two months. I just watching the news today. And the powers that be like it or not are pushing for sooner. The person in charge is pushing for sooner.

So whether it's one month, two months, three months, we have the strategic time frame right now at our hands and we get to do what we want with it. So right now over the next say 12 week period, what do you do and what are you doing? Is it setting you up to crash and burn? Is it setting you up to be in the same situation you're in right now? Or are you building a foundation to seize the eminent market opportunities? What are you doing? Here's what I'm doing. I'll give you my action plan and try it on for size. If you like the way it feels, if you like the way it fits, then you can take it on too. And the point being is if you just start right now,

there's going to be plenty for you when you cross the survival line. You're going to be able to get your fair share and maybe then some. So number one, get clear on where you want to end up. Don't underestimate the power of clarity. And this is what I mean by that. You see, whether you like it or not,

love it or hate it, the gap between the haves and the have-nots It's going to widen some. It's going to widen even more when this is all said and done when everything shakes out. And we have no control over that. We have no control over that, but it's going to happen. But what we do have control over are the actions we take and where we choose to end up, to get clear and decide on which side of that chasm you want to end up on.

what side of that growing chasm do you want to land on? That's number one, get clear. Number two, get educated on how to take advantage of the opportunities in a downwardly shifting market. I'm doing my duty here to help you with that because the same strategies that have worked the last several years as the market has been appreciating. won't be the same strategies you want to deploy as the market shifts in the other direction. You're going to leave a lot of money and good fortune on the table being a one-trick wholesaling pony. Not to mention it's going to be more difficult. It's going to be more difficult to exit.

That's what I mean by you won't want to really. The strategy could work. It will work if you buy low enough. but you're just racing to the bottom trying to buy lower and lower and lower to keep up with what that price is that you're going to sell at. So you're not going to want to, you don't want to use the same strategies because it's just not going to be the same ones that you want to deploy as the market shifts in the other direction. Control, as we've been talking about, that's the name of the game.

You have to get control of as much real estate as you possibly can. Control, that's the name of the game, and creative financing and acquisition will be the tactic. So you've got to arm yourself with the creative financing terms and deal structures that we've been talking about all month long. And I put together a long list. If you haven't gotten it by now, what are you waiting for? A long list of the 21 creative financing terms and 10 deal structure templates that I'm giving to my students and I'm giving them to you too. They're cheat sheets, if you will. And if you'd like copies, you can go download them at epicbreakthrough.com. Epic true.com.

So that's number two. Get educated on what you're going to have to do. Because there's no good or bad markets. Don't get me wrong. I'm not saying this is going to be a bad market. There's just up and down markets. And the strategies that work in the up market don't necessarily

work in the down market and vice versa. There's a lot of overlapping gray area there. But there's certainly ones that really put the odds in your favor. So you want to choose those. And most people, that have been doing really well the last few years in real estate are completely unfamiliar and don't have a clue as to how to play the game when the market shifts because they haven't

been here that long. They don't have the experience. They don't know what it's like. They only know one way to do it because they've only been in one market. So prepare yourself. Get educated. Number three, you have to start marketing. Now, you see a huge portion of real estate investors. Those that are freezing and those that are fiddling have pulled way back on their marketing, if not stopped altogether. I was on a mastermind call yesterday with 53 real estate investors, all from all across the country, all very accomplished. I was on a virtual video conference, a Zoom conference call for four hours, listening. to everybody. They went all the way around. Everybody got their time to share what's going on in their world right now. And inside of there, there is a couple

direct mail houses, real estate investors that run their own direct mail houses. And these are direct mail houses that are on the really large level. They run a massive amount of marketing volume. Like for real estate investors that sell or send 50,000, 100,000 pieces per month. And they said their marketing or their business is down like 60%. Their good long-term clients are still marketing. But those that are freezing and those are fiddling, they have stopped. They have left. The space is cleared out significantly. There's so much more room in people's mailboxes right now. There's much more room in your social media feeds right now. And due to that, the reduction in demand for that type of advertising,

advertising is cheaper. Private client Devin, RIA Ace client actually just joined RIA Ace. He was in the follow-through crew and now we're working together on one-on-one. And he was running Google PPC ads. He was getting, I believe the number was $39 a click. And he's down to $9. a click. Direct mail houses are running

non-stop promotions and sales. There's so little margin in direct mail that there's never a sale and people are running sales. And those PPC and Facebook ad prices have dropped by 60%. Devin's dropped even more.

And it dropped significantly. He told me the story it was $19 and two days later so now I'm down to $9. So went from $39 down to $19, then two days from $19 down to $9. Do you wish you would have bought real estate in 2010? Let me just change the subject for a second. Or go on a tangent.

A very small one, though, short one. We all wish we would have bought some real estate in 2010, don't we? Well, the same thing goes with advertising. Because Facebook advertising six years ago, seven years ago, was like that cheap real estate. And it's cheap again. So if you've felt like you were behind or you missed out or you got or you've just got in, you've been priced out of the market because you can't afford the marketing,

this is the time to make up for lost time. This is the time to make up for lost ground. And be ahead of the game when we cross that survival line and everybody rushes back to start marketing again and the price of skyrocket again. You've got the opportunity to get a huge head start. You can create some real exposure for yourself. you can create some real market presence for yourself. You can grab a lot of deals for yourself.

Because people are selling right now out of straight fear, at a straight panic. And you want to be the one that's in front of them right now. All righty. So get clear, get educated, and start marketing right now. That's the plan. If you found this episode valuable, there is a good chance you know someone else

who might find it valuable as well. And if that person comes to mind, you're like, oh yeah, that person there, that guy over there, that girl over there. Please share it with them and ask them to click the subscribe button when they get here. I'll take great care of them. All righty. That's it for today. I'm going to see you tomorrow.

We're going to talk more about this, more about creative stuff and how to get control and how to maximize your return in a downwardly shifting market. You can make more money in this market than you could make in the market that we just came out of. So if you made a lot of money in the last few years, get educated on these new strategies because you can have your potential and the likelihood to make a whole lot more. All righty? God loves you. So do I.

Peace, health, blessings, and success to you. I'm Matt Terrio. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know home world, we got the cash flow. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.