Epic Real Estate Investing - How Rental Income Can Provide Security and Freedom | 841

Episode Date: November 19, 2019

Everyone wants to be in control of their time, life, and finances However, the reality is that very few people are actually in control. Therefore, our host, Mercedes Torres shares all the benefits of turnkey operations and more specifically, how these operations can provide security, freedom, and ultimately control. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. So you want to be a real estate investor, but you don't want to do the work. If there were only a way where someone else could do it for you, now there is. Tune in here each and every Tuesday on the Epic Real Estate Investing show for Turnkey Tuesdays with your host, Mercedes-Torres. Hello and welcome, welcome to Turnkey Tuesdays brought to you by Epic Real Estate Investing. My name is Mercedes Torres, the turnkey girl. And this show is real estate for busy people.

Busy people just like you who understand the importance of real estate just don't have the time or the desire to learn every single nuance there is to learn to become a real estate investor. Let's face it, it's a lot of work. So this show is designed to give you tips and clues and suggestions on building passive income through real estate investing. So if this is your first time here, glad you made it, make yourself at home. If this is not your first time here, my friends, welcome back. So let's jump right into it, my friends.

Most people are happy and feel secure with their jobs. They have a nice lifestyle and they have a nice home. they think they own and are really proud of it. They think they're in control of their home, despite the fact their home has a huge mortgage on it. Quite honestly, everyone wants to be in control. They want to be in control of their time, of their life, of their finances. But the reality is, very few people are actually

in control. In fact, most of the people that I speak with, my clients, they're a slave to their jobs, and most of them, given the opportunity, would be doing something different. They have no time to spend with their families. They live paycheck to paycheck, and they're forced to take mediocre vacations. I mean, most of my clients would take a three-week cruise to the Caribbean or they would spend a month like going through Europe through five-star resorts and, you know, doing everything five-star. But the reality is they're not able to do so. In fact, some people actually have to limit their Starbucks consumptions or eating out

because if they do it too much per month, it may possibly put them in the red. Others have, for example, that house everyone thinks they own, and they think they own it and it can't be taken away as long as they keep making the mortgage payment. Well, the homeowner is not in control. The bank is. Even if your home is paid off, if you miss property taxes, the government can take it away. way. They are in control. What about your money? Who is in control of that? Probably your boss, your employer? Certainly, the government has control through taxes. If you are self-employed, time is a major controlling factor. I mean, there are only so many hours in a day that allow you

to do certain things. And if you bill by the hour, you can only bill for, so. many hours. Now, there are only two ways I know of that you can take full control of your time and money. Number one, own your own business where you own and control not only the business, but the systems behind the business. And number two, you become a real estate investor. You buy and hold property and create and work a system that will allow you to do both. Honestly, the business mindset and the investor mindset will have all the control. And I mean real control, but getting there, well, it's going to take a little bit an effort. And if this isn't you, if your mind doesn't operate that way or you think you're not a business person. Now, I seriously doubt that because

you're listening to this podcast and you're doing this for you. You're educating yourself and you're thinking outside the box, which is the very reason why you're here listening to me. But if you're not that business person, then you need to start prepping your mind. Start educating yourself even more. So listen to other podcasts outside of real estate business podcasts and start reading business development or books on business on how to get a business started. However, I will say it's really difficult to change from being an employee with very little control to being a business owner or an investor with complete control.

The reason it's so hard is because money today is essential for life. Everything costs money. And let's face it, the reason you go to work is to provide for you and your family to get that money to put a roof over your head, to buy your car. You need money to put food on the table. I mean, even water costs money. And when you try to take control of your money and changing from an employee mindset to a business owner, the part of you that is afraid is that you may fail. It's simply fear.

And then you start to wonder, how do I do this? You know, who can guide me? What will happen if I fail? and who can I call to ask and answer any questions when I get stuck? Human nature, my friends, will always have you seek security despite the fact that you want financial freedom. But here's the beauty of the whole thing. You get to decide which one will win.

It is all up to you. You can either start your business from scratch or, you can begin investing in real estate and piggyback off of the people and the proven systems that have already done it. It's really simple, my friends. You can either build a business from scratch and take control of your time, your life, your finances, or you can start investing in real estate. or you'll fall back on your job forever. I mean, which do you want? Which is better? Until now, my friends, you are able to get security and freedom with proven systems in real estate.

So one of the reasons we decided to create an episode on turnkey real estate investing is so that you can consider creating your real estate business using turnkey real estate. Now, I mention this regularly, and if you're here listening to me, again, I say, you're not here for me, you're here for you. The very reason that you are listening is so that you can make a difference for you. And yes, the segment is called Turnkey Tuesday. and you may think I'm biased. But one of the reasons I absolutely love turnkey real estate investing is because it is a proven

system done for you. I mean, think of it. A turnkey provider seeks out markets where they know that you have a chance of succeeding. They know that a market is going to produce a market. a return for you. Turnkey operations go out of their way and do a tremendous amount of due diligence on areas where they know that that piece of real estate they are picking up is going to produce a return. Because let's face it, a turnkey operation wants you to be happy with the product they sell you so that you can come back and buy more.

So turnkey providers, yes, they may be a business to provide for themselves, but think about what a turnkey provider is providing you. Then they seek out properties for you and buy them, making triple sure that the numbers pencil out. Or why else would they buy them? then a turnkey provider rehabs the property and not only rehabs the property to make it rent ready. Some turnkey providers will rehab the properties so that you can turn around and flip it within a year or so for a profit. It takes a lot of work, my friends, to find a team that is going to rehab the property bring it up to code to a safe and livable condition so that you can either rent it or so that you can sell it. Now, most turnkey providers will provide a property that is rent-ready so that you can continue to rent it month after month for years

so that you can continue to collect cash flow. and then the turnkey provider will place a tenant for you. This is critical, my friends. You can have the best property on the block, but if you don't have a tenant in that property, paying your rent every single month, then your property is pointless. And a turnkey provider thrives on placing a quality tenant

in your property so that you can collect rents every month. And most importantly, what a turnkey provider does is they manage your property. Now, if you listen to me on a daily or on a weekly basis, you will remember that I harp on property management. Because at the end of the day, my friends, the team on the ground is the one. that is going to make your properties perform. And turnkey providers are designed to make sure that property management not only places a quality tenant in your property, but they make sure your tenant pays rent every single month. Because let's face it, if they do not collect your rent,

nobody makes money, not property management and not you. So, Property management is probably the most important element of a turnkey provider. And most property management are owned by the provider or have some affiliation to where they have skin in the game. And they are incentivized not by placing a tenant, but by making sure the tenant pays rent every month. Now, that is a proven system. and at the end of the day, that is probably the most important components to a successful turnkey property. Finding the market, finding the property, rehabbing it and making it rent ready so that you can rent it and that your property management company can collect the rents and forward them to you.

Now, this is what I mean by security and freedom. Security comes from the turnkey provider that has done this over and over again. Turnkey providers have proven systems. They have formulas. There's no need for you to go reinvent the wheel if you want to become a real estate investor. A turnkey operation should have been. the track record that has proven over and over again with countless properties and clients that will allow you to not only vet them, but to see what they have done for others so that they can do it

for you. Most turn-tube providers have served a ton of clients and they can provide you with references that will allow you to verify that themselves. And more importantly, many turnkey providers out there are real estate investors themselves. It is really, really important that your turnkey provider invest in the markets that are the markets that you are going to be investing as well. Now, the most important part of this whole equation is when you decide to start investing in real estate through a turnkey provider, it is, really important that you vet them. And when you vet them, make sure you go out of your way doing your due diligence. Do your homework on these turnkey providers. Contact them. Make sure that

you get on one-on-one calls, many turnkey providers will have a free consultation, and many of them will provide you with a plan, a written-out plan of how to get you to achieve financial freedom. Don't be afraid to ask questions. When you're vetting a turnkey provider, you want to know what's in it for you. Are they going to hold your hand through the process, or are they just going to shove you with a whole bunch of properties and say, here, choose one? Or are they going to customize something where that property is going to serve your purpose? Because trust me, my friends, each property that you invest in will have a different outcome, if you will. Some properties are designed to be a better fix and flip.

Other properties, it's a no-brainer. It's buy and hold. So you want to really dive into that turnkey provider that is going to serve your purpose. And speaking of purpose, when you're vetting your turnkey. turnkey provider, you want to be crystal clear on what your goals are so that you will know during the vetting process if this turnkey provider is going to be a good fit for you. Next, get confirmation that their system works. Speak to past clients.

Ask for past pro forma. You know, many turnkey providers should have it on their websites, the properties that that they've sold. And if that's the case, go on there and see what those proformas are all about. Check to see if that pro forma is going to meet your criteria. Some turnkey providers will blast properties out to hundreds of people. Some turnkey providers have waiting lists where you have to wait six to eight months for one property. And maybe you need to buy a property within the next three months, you need to get your real estate business started and waiting eight months is just not in the cards for you. There are other turnkey providers that will cater to your specific needs and

will send you properties that fit your criteria. Be sure, my friends, that when you're doing your due diligence on your turnkey provider, that you ask those questions. And once you're, you've done all this due diligence. Be crystal clear on what your goal is. What is your expectation? In many cases, your expectation is to quit your job. So you should know what number you need to target. What is that monthly income that you need to create through passive income so that you can quit your job with no questions asked? My friends, I love turnkey real estate investing. I love it because it is a proven system that has worked time and time again. And for those of you just getting started, or for those of you that are stuck building your portfolio,

because you find you have no time and you don't want to do all the due diligence there is to do to acquire a property, jumping into a turnkey, real estate provider is probably going to be the best way you can start investing in your business to truly escape the rat race. I mean, in a nutshell, turnkey real estate is real estate done for you, cash flow done for you if you want to get technical. and what better than to have a team of experts, a team of people that have done it time and time again in your corner, helping you buy real estate, helping you establish your real estate business, and helping you build your portfolio to create financial freedom with limited risk. My friends, I often say the purpose of this podcast is to get your wheels turning and to help you think outside the box, to help you see that there are other alternatives than to be stuck in the rat race and to be going to that nine to five that you're not truly passionate about so that you can be in control and create financial freedom. them. I'm all about that. All about that. And if you'd like to have a discussion about it,

maybe there's something I missed or maybe there's something that you need a little bit more clarification on. Feel free to reach out to me or my team. Believe it or not, my friends, I do answer emails and I do return people's call. Now, it may take me a little bit, might take me a day or so, maybe even a week to get on my calendar, but myself and my team are here and we'd be happy to help you brainstorm to create security and freedom and hold your hand through the process so that you too can also be financially free and have security to create the life that you really want to create. So feel free to email me, Mercedes at Epic Real Estate.com, or go to cash flow savvy.com.

Download the frustrated investors guide to passive income with a step-by-step process to show you how I did it, how I achieved financial freedoms. And if I did it, you can do it as well. You can begin your own business in real estate on your timeline. Trust me, my friends, the process is simple. It's not easy to do, but it's simple. And you can do it. Until next week, my friends, on the next episode of Turnkey Tuesdays, have an epic week. Is Wall Street failing to meet your expectations? Has your 401k tragically turned into a 201k or worse? Don't panic. You don't have a money problem.

You have an idea problem. We're cashflow savvy.com. And we'd like to share with you a new idea how one small shift can transform your financial future and accelerate its arrival. Go to cashflow savvy.com to get this. new idea that Wall Street doesn't want you to know about. Cashflowsavvy.com. More control, less risk. Cashflow savvy.com.

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