Epic Real Estate Investing - Greener Pastures Found! | 313

Episode Date: November 20, 2017

Crack the code to success in your market with Epic Real Estate Investing. Discover that greener pastures are found right in your backyard when you make five simple commitments. Do these few things consistently and financial freedom will be yours. What are these five simple commitments that will shape your financial future? Find out today on Epic Real Estate Investing. ______   The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? • E.ducation • P.roperties • I.ncome • C.oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Broadcasting from Terrio Studios in Glendale, California, it's time for Epic Real Estate Investing with Matt Terrio. Hello, and welcome. Welcome to the Epic Real Estate Investing podcast. This is the show where I show people how to escape the rat race using real estate. And to make this happen for you, the first step, all you got to do is shift your focus, shift your focus, your mocus, shift your mocus too. Shift your focus from making piles of money to creating streams of money. That's where it begins. And you'll have to do it once. And then just embrace it. Stick with it. And your escape from the rat race is going to move at least 10 times faster than those that choose the

alternate path. And just let me clarify, this is not get rich quick. No, it's get rich quicker and getting rich permanently. That's the objective. And to get started down that path or restarted, I've created a free course just for you. Go to free real estate investing course.com and you get a crash course on how to find deals and the two quickest and easiest strategies to a paycheck in real estate. And then just hang out here each and every week. And I'll show you how to put that paycheck to work for you in a way that it works harder for you than you did originally for it. Cool.

All righty. Been a busy week. Looking forward to starting this year early for those that decided to join me. I'll see you guys in a couple weeks, guys and gals. And we're going to get down to business. Also, I'm going to be traveling to Oregon this week. I'm going to spend Thanksgiving with my mother, but she's not doing well, so I'll probably be there indefinitely, not sure how long it's going to be, just going up to take care of mom for a while. So the show may sound a little different up there than it does right this second, just being outside of the studio and all.

But should all still be good, just heads up, all right? And then, you know, this year, I've been really fortunate. It's been a great year. I've kind of looking back on the years, we're getting ready to start a new one. And I've just been really fortunate to help a lot of people this year with their real estate investing and, you know, and how it is and how it's going to continue to support their dreams. And, you know, just how it's going to support their dreams with regard to the results that they're all receiving. Because, you know, some are absolutely crushing it. I've been sharing some of those stories here.

and I've been sharing those inside of our private Facebook group. Some are gaining traction and really starting to get the swing of things and moving really quickly and building momentum. And some are still a little bit in startup mode trying to figure out when it's going to be the right time to get going. And that's up to them. And others, they've been working at a little bit and just they're not getting their expectations met, at least not yet. And it's with these kinds of results that, you know, it always makes it difficult, if not impossible, to answer that question.

how long is it going to take, right? That's one of the most common questions that I get is if I get in there and I go to work and I work my butt off and I do this and I do that and I do everything you tell me to do, how long is it going to take? You know, with so many variables at play with regard to a, you know, a person's experience and a person's drive, a person's background, a person's resources, the reason why someone is pursuing real estate investing at all. And not just their resources, but even their resources.

but even their resourcefulness comes into play significantly. You know, it all comes into play. But here's what I recognize in my most successful students. And I'm starting to get a really large sample of them and starting to really see some common traits. And one is that they take the instruction, right? They're very coachable. They take the instruction.

Two, they're really quick to implement. They get the instruction. They go out and they put it to work. And three, they're really quick to ask for help when they get stuck. And then they go, then they're quick to implement all over again. You know, and, you know, most people, it's difficult to argue with that logic. It sounds, okay, that makes a whole lot of sense. But where I do get some pushback every once in a while is because people, they think a lot of people, like, we work and we work hard and we're tired and we feel like we put in a full day and we've been thinking about it and stressing about it.

But did we really work? You know what I mean? We might have been busy, but we're really productive. and that's kind of a fine line for people because I'm not there watching them every day in their market to see exactly what they do. And, you know, people swear up and down. I'm doing this. I'm doing that. I'm doing this.

I'm doing that. And I'll get a little bit of pushback because they ultimately will blame it on their market, right? They don't think they have a good market. They're seeing so-and-so over there doing five deals and they post a new check in the Facebook group every week. And then someone over there and they post that over there and they're doing this. And I was at a Ria club the other night. And he was saying in his old market, he did way better than he's doing now and blah, blah, blah, blah. They hear all this stuff about the market, the market, the market.

They just, they think the grass is always greener. There's greener pastures out there. And wherever they are, they're not here, where I am. And my response to that is, you know, people sell real estate at a discount because the sale of that real estate is going to solve or alleviate some sort of problem, okay? You've got to look for the problems. If you find the problems, you're going to find the profit. So basically, as real estate investors, we're just looking for problems.

specifically property owners with problems. You know, problems like financial distress and personal distress and property distress. We're looking for those types of problems. And people have problems in every market. In every market. If you find a market with people with no problems, I want to go there because I don't want my problems either. And those problems, they happen to people every single day of the week.

We've all got problems, whether we own property or not. But property owners, they got problems just like everybody. else and there are property owners in every single market. I mean, if there's, there's real estate there, there's property, people own that property and they got problems. But I get it. I totally understand the frustrations because I live in a market that's, you know, it's a little challenging seemingly. You know, I get the frustration. It seems everybody else is succeeding but you, right? You're just noticing all the evidence and all the winds all around. And, you know, you think they're in a good market. That's the difference. And so because of that, you're

you never really fully commit because you don't believe in your market. And when you don't commit, you're just not going to get the results you signed up for. So, I mean, signed up when like when you decided that you're going to take on real estate investing. And you feel at a disadvantage, right? You feel at a disadvantage because where you live and ultimately, you know, you just, you think this just isn't going to work for you unless you move to a new market. Or you get some boots on the ground or you buy the next virtual wholesaling course and you've got to do it virtually. if you don't get that, it ain't going to happen for you. Because, I mean, I understand.

I live in Southern California, and it's tough here. But it's doable. It's very doable. It's where I started. It's where I built the entire business. And, you know, there are a lot of houses here, like anywhere else. And there are a lot of problems here, too, like anywhere else. And the only reason my investing in Southern California, it moved out of Southern California.

And anything that I do here right now, it's really minimal, is because the purchase price to rent, ratio is just so off balance. I mean, it's impossible, essentially impossible, to cash flow a property here. You've got to put so much money down to get, to create a positive cash flow, all of a sudden, your ROI is like, you know, it's one or two percent. You might as well just put it in the bank, right? So that's why I'm not, I, I left my market, but if there's no doubt in my mind that if I wanted to be a wholesaler or a flipper, I can make it happen here. there's no doubt in my mind because houses are getting flipped and purchased and sold every single day here and it's real estate investors that largely are making that happen now you might have to

adjust your expectations on how often you get to do it but on the bright side look how much more you get to make at this price point okay so and i'm just using southern california as this particular example i mean i could be talking about any city right you get that i could be talking about any city. But I'm just using Southern California because I'm here and I know it and I have the experience here and I can talk about it extremely confidently and with knowledge, like firsthand knowledge here. But people in Southern California that are here in this market that are trying to make this work for them, they want to win like, you know, how they perceive everybody else is winning because they know if they can win, they can fully commit to their real estate investing passions and all they want,

they just want a level playing field and they feel it's unlevel. So they can have access to everything that real estate promises. And everybody just kind of feels like they and people in Southern California. Again, this is just an example. You're not alone. Everybody feels that way in their market. Here's a story. This is where I'm going with this.

I've got two students. Okay, two students. The first one lives in a Midwest market, okay? Just kind of middle America market. And doesn't believe in his market. When he first came to me, he just didn't think it was going to work there. He said it's tough to find a list here. It's tough to, nobody wants to talk to each other, and people stay at themselves, and the

house are too expensive over here, and they're too poor and run down over here, and it's dangerous over there, and he just hated everything about his market, and he really wanted to start a virtual flipping business. And I advised him against it. He said, we can go there eventually, but let's let's learn your chops right now, right here in your own backyard. That's just learn real estate first, and then we can go ahead and we can elevate that to virtually if we need.

to. And so he took my advice and his results are coming slow just like he thought they would. And he's getting really discouraged. So I have a lot of conversations with him. A lot of pick me up conversations and and, you know, readjusting the or evaluating the results and adjusting the actions and getting them going in the right direction. And so he's followed my advice and kind of what he thought was going to happen is happening. He's not getting great results and he's getting discouraged. So that's the one client. Client number two, very similar story, lives in a Midwest market and had kind of the same thing going on his head, didn't believe in his market.

And he too really believed that, you know, starting a virtual flipping business was going to be the answer. I need to do this in another market. And as I advised the first student, I advised him against it as well. And he did not take my advice. He said, Matt, I'm going to do it my mind. way, I'm going to do it this way anyway. And his results this year have been extraordinary. So, you know, if you're listening to the story, you might be thinking, wow, Matt, you gave someone

some bad advice in both instances. And the person that followed your advice, they're getting terrible results. And the person that ignored you is getting great results. What kind of operation are you running over there? What are you telling people? And honestly, I can't understand why you'd even tell such a story over your podcast. Right? Well, here's why. Here's my point. You see, the student with all of the success is investing virtually into the market where the other student with the lackluster results lives. You get that? The one that went against my advice and decided to do this virtually is crushing the market that he's in. but it happens to be the same market that the first one with no results is getting. That's where he lives.

He's crushing it in someone else's backyard, and the person wants to leave his backyard. So what's the difference between the two? You know, whatever it is, and I actually know what it is, but that's not the point of this story. I'll save that for another episode. But whatever the difference is, it's not the market is the point. And this is not an isolated example of this either.

No, I'm seeing similar parallel stories and other parts of the country with some other students as well. In fact, I've got one student, I think I mentioned this maybe a few episodes ago, that moved to a new market. They picked up their residents, their family moved to a new market over a year ago because he wanted to go live in this one market where he thought all the success was going to be. So he moved his whole family just to pursue his real estate investing. And a little over a year now, he's now moving back to where he moved from, because of the success he's hearing that his former colleague is having in that market. So the moral here is, as long as real estate's in your market and people live in that real estate, real estate investing works.

And I've said this before more than once, but this particular story, it happened just last week. So it just felt it's been on top of mind. I was like, ah, well, look at that. What do you know? all of a sudden I just took everything that I've been sharing with you over the last, what, seven, eight years, right out of the theory category into the real life, here's some evidence of people that I actually know that I've helped, that I've touched, I've coached, and I've trained and I've put them up through their and on their way to their real estate investing, you know,

their journey. And because of this year, I've been able to help so many people, they're not the only case. So my whole point is, if you're having to be a lot of. having second thoughts or doubts about your market. Don't. Okay? Here's what there is to do. One, I want you to commit to your market.

You have to make a commitment to this. If you're just interested in real estate investing, it's never going to meet your expectations. You've got to commit to it. You've got to commit to the right activities, the money-making activities. If you don't have a copy of the Daily Success Report, you need to print those out and hold one every single day of the week and just keep track of your activities to make sure that you're on track with the right activities. You can go to DailySuccessReport.com.

You can grab one there for free and then just take it to, you know, a copy place and run a bunch off. Make a little folder and keep score there once or every single day. Okay? Just let those stack up and boom. Okay. So you got to commit to the right activities. You have to commit to doing those activities consistently.

Consistently or the consistency. Yeah. Being consistent with your activities, that crushes everything. That trumps everything. That's what wins. Okay? And then you've got to be persistent. You've got to commit to persistence.

Do those, make those four commitments. And on the back end of those four, I want you to commit to holding more than you sell. I'm not saying you can't sell. I'm not saying you can't flip. I'm not saying you can't wholesale. But commit to holding more than you sell. Because I'm telling you're going to look back on this one day and you're going to think, gosh, I wish I would have held more than I sold. I wish I would have bought more and sold less.

Just think if you would have done that 10. years earlier than today. Ten years ago, if you bought ten houses and didn't sell them, where would you be right now? Right? 20 houses, 20 years ago, where would you be right now? All right. So make those commitments. Commit to your market. Commit to the right activities. Commit to doing those activities consistently. Commit to persistence and commit to holding more than you sell. All right. So I want to share with something with you today. And this was the very first piece of, I guess, quote unquote, personal development material that I was ever exposed to. I mean, way before I even knew what, like, what a personal development thing was, you know,

is back on cassette tapes. Some of you don't even know what a cassette tape is, I imagine. But in hindsight, it certainly made its impact on me. It kind of opened me up into this world, the door into this world of, you know, working on yourself, right? Making investments in yourself and your education and, you know, just kind of grabbing distinctions around yourself and understanding how you operate and then how to work with what you've been given and, you know, produce the desired results that you want. So, and I might have shared this with you before. I can totally remember.

I think I have it. I think it was on one of my other podcasts a long time ago. But it's so fitting and it's so timely right now that I'm going to air on the side of repeating it. It certainly wouldn't hurt anyone to hear it again. So this is a story about, or it's called Acres of Diamonds, told by Earl Nightingale. Enjoy. In the year 1843, Amanda. was born who was to have a profound effect upon the lives of millions of people. His name was Russell

Herman Conwell. He became a lawyer, then a newspaper editor, and finally a clergyman. It was during his church career that an incident occurred which was to change his life and the lives of countless others. One day a group of young people came to Dr. Conwell at his church and asked him if he'd be willing to instruct them in college courses. They all wanted a college education but lacked their to pay for it. He told them to let him think about it and come back in a few days. After they left, an idea began to form in Dr. Conwell's mind. He asked himself, why couldn't there be a fine college for poor but deserving young people? And before very long, the idea consumed him. Why not indeed? It was a project worthy of 100% dedication,

complete commitment, and almost single-handedly Dr. Conwell raised several million dollars with which he founded Temple University, today one of the country's leading schools. He raised the money by giving more than 6,000 lectures all over the country, and in each one of them he told a story called Acres of Diamonds. It was a true story, which had affected him very deeply, and it had the same effect on his audiences. The money he needed to build the college came pouring in. The story was the account of an African farmer who heard tales about other farmers who had made millions by discovering diamond mines.

These tales so excited the farmer that he could hardly wait to sell his farm and go prospecting for diamonds himself. So he sold the farm, and spent the rest of his life wandering the African continent searching unsuccessfully for the gleaming gems which brought such high prices on the market. pockets of the world. Finally, the story goes, worn out and in a fit of despondency, he threw himself into a river and drowned. Meanwhile, back at the ranch, or farm in this case, the man who had bought his farm happened to be crossing the small stream on the property when suddenly there was a bright flash of blue and red light from the stream bottom. He bent down, picked up the stone, it was a good-sized stone, and admiring it, later put it on his fireplace mantle as an interesting curiosity. Several weeks later, a visitor picked up the stone, looked closely at it,

hefted it in his hand, and nearly fainted. He asked the farmer if he knew what he'd found. When the farmer said no, that he thought it was a piece of crystal, the visitor told him he had found one of the largest diamonds ever discovered. While the farmer had trouble believing that, he told the man that his creek was full of such stones, not as large perhaps as the one on the mantle, but, well, they were sprinkled generously throughout the creek. bottom. Needless to say, the farm the first farmer had sold, so that he might find a diamond mine, turned out to be the most productive diamond mine on the entire African continent. The first farmer had owned, free and clear, acres of diamonds, but had sold them for practically

nothing in order to look for them elsewhere. While the moral is clear, if the first farmer had only taken the time to study and prepare himself, to learn what diamonds looked like in their rough state, and since he had already owned a piece of the African continent, to thoroughly explore the property he had before looking elsewhere all of his wildest dreams would have come true. Now, the thing about this story that so profoundly affected Dr. Conwell and subsequently millions of others was the idea that each of us is at this moment standing in the middle of his or her own acres of diamonds. If we'll only have the wisdom and patience to intelligently and effectively explore the work in which we're now engaged, to explore ourselves, we'll usually find the riches we seek,

whether they be financial or intangible or both. Before we go running off to what we think are greener pastures, let's make sure that our own is not just as greener, perhaps even greener. It's been said that if the other guy's pasture appears to be greener than ours, it's quite possible that it's getting better care. Besides, while we're looking at other pastures, other people are looking at ours. All right recap. Here's what there is to do. Commit to your market.

Make a commitment. Commit to the right activities. Commit to doing those activities consistently. Commit to persistence and commit to holding more than you sell. Commit to those five things for a few years, what most people will not do. And for the rest of your life, you'll be able to do what most people can't do. God bless. To your success, I'm Matt Terrio.

Live in the Dream. You've been listening to Epic Real Estate Investing, the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts. Thanks for listening. We'll see you next time here at Epic Real Estate Investing with Matt Terrio. This podcast is a part of the C-Suite Radio Network. For more top business podcasts, visit c-sweetradio.com. Thank you.