Epic Real Estate Investing - How to Choose Better Contractors, a $400K Education for You for FREE | 244

Episode Date: January 9, 2017

Matt Theriault recounts the epic tale of a nightmare investment property that has caused more headaches than cash flow. Learn from his mistakes so that you can avoid the same pitfalls and make more out of your investments. Remember, you are either getting paid, or you are getting an education. Check out these fifteen ways to choose better contractors with 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. Uh, yeah, what's up? Hello. And welcome. Welcome to Epic Real Estate investing. This is the place where I show people how to escape the rat race using real estate. And if you're just getting started and or you're looking for new and creative ways of making money in real estate, I've put together a free course just for,

for you, including a checklist on how to find motivated sellers. That's property owners that are willing and able to sell you their property at a discount. And you can get that to access that free course. Go to free real estate investing course.com. Free real estate investing course.com. All right, a couple quick announcements. First, the Epic Intensive is approaching quickly. We're just a few weeks away.

And if you plan on attending and haven't reserved your seat, please go to epicintensive.com. Epicintensive.com. I'm going to be going dark here on the support front for the next week or two. I'm just going to kind of turn it off and start putting the material together that I'll be sharing at the intensive. And a few things I'll be sharing. A new Facebook strategy that I'm very excited about. We've got it in place here to find motivated sellers on Facebook.

And I can guarantee you nobody else is doing this. Nobody else is doing this. And I'll be revealing that first at the intensive. Also, I'll show you how we're exiting our deals with seller finance. And we've had a lot of talk about seller financing here over the last few months. last several episodes and how to generate cash and cash flow with darn near every deal that you come across or at least have that option to do it with every deal that you come across and without and what i'll be showing you is how to do that but also how to do that and here's a very key point

of this that that's come up and i knew of it already and i've confirmed it with legal i've confirmed it with my my rmLO that there's a specific way you've got to do this so that you're not playing in that gray area of Dodd-Frank violations. It's very easy to get in trouble when seller financing to a resident owner. You must be in compliance with the Dodd-Frank Act with RESPA and the Safe Act. I'm going to show you how to do that. And then there are some new revelations and systems for automation that I'm going to be sharing on how to automate your business, how to automate your lead generation,

how to automate the follow-up. We'll be sharing that there. And there will be a big focus on how to escape the rat race the fastest. That's going to be the primary theme of the whole. intensive. And we're going to be running through that and starting from where you are right now and then how to build wealth faster than how 99% of the country is going about it. And how to get started right now, regardless of what your financial situation is, regardless of what your resources are, I'm going to show you how to get started and create a plan for you to do this

in 10 years or less. And there's a ton more, but those are the things that immediately come to mind. And then, you know, if after listening to the last couple episodes, specifically two episodes ago the 10 sure's fire ways to get rich and you've decided that you do want to participate in the no agent needed project or if you're thinking about it. Like almost all of those spots are filled up now, but I still have, not all of them, but enough for me to get started and go ahead and this ship can leave the dock and that project will be in the bag. But there are enough, there are plenty of territories left and if you'd like to get involved, if you want to get the scoop of what that entire project is about with regard to making you famous and adding

bestseller author to your resume and also sending you organic motivated seller leads indefinitely. If you want more information on that, go to no agent needed book.com. No agent needed book.com. All righty. And yeah, that's it for the announcement. So I got some response from last week's episode. Well, you're talking about my deal, how I'm a distressed seller. And the predominant inquiry was, Matt, how did you end up as a distressed seller?

How did this happen to you? You're the guy. you're the one that teaches this. And so for you, I'm going to answer it. And I'm going to tell you how I will avoid being in this position again. I don't know everything. I've never claimed to know everything. I just have a lot of experience under my belt.

I know a lot of things from the experiences that I've had, but I haven't had every experience there's to have in real estate. And you will never stop learning in this business. Every single transaction has a lesson lined inside there somewhere. And when I ask people about their big wins and their successes, is I always ask, okay, so what did you learn from this one? You know, because there's always a lesson, and I just always want to gather other people's insight,

live vicariously through them and learn from them. So I don't make those same mistakes or I can apply what worked for them in my business as well. So the big question was, what kind of, or how did you end up as a distress seller? So I'm going to share the answer with you today of that and then how I'll avoid being in this position again and how about actually working my way out of it

and probably minimize my loss if I don't lose anything at all. So what kind of distress am I actually under with this deal? Well, that was a little unclear to people. So there are three types of distress property owners can experience. Financial distress, that's not me. Personal distress. Not me either. But the third one is property distress.

And for this particular deal, that's number three. Property distress. I purchased this property a few years ago. I think we're pretty much going close on to four years now. a little over, certainly over three. It's a mid-sized multi-unit property. It needed a ton of work when I got it, and I knew that. And it was definitely going to be something bigger also than I've ever done up to that point.

The property was priced very cheaply. It seemed like a smoking deal. Seller financing was even in place, so it was going to be really easy to take over. And, I mean, the upside was huge. I mean, it was really significant profit potential there in both equity and cash flow. And to make it a perfect situation, it happened to be in a market where I already had a great team in place that could take on the work for me and just kind of carry this ball right across the goal line. At the time, absolute no-brainer. At the time.

So I went through with this transaction. I lined up some private money for the rehab, called my contractor, shared within the plan, and boom, I was ready to go. And up to this point, all was good. And this was going to be a home run. It was going to be one of those deals that I would probably tell stories about for. long in the future. And it's still probably going to be one of those deals I still tell stories about long into the future, but for a different reason. And I'll get to that. But two weeks after I closed, my contractor passed away. It was a sad day because we had become decent friends. It was a personal

relationship as well as a business relationship. I mean, he was a great beer drinking buddy that loved watching college football. And if you and I have those two things in common, we're 75% of the way to becoming best friends. That's just how I am and how I'm wired. And I really connect with those beer drinking football guys. So that's who he was. And as much as I was mourning the loss of a friend, I just, I couldn't get out of my mind. I couldn't push aside the thoughts in the back of my mind of,

oh my God, I got this project. What am I going to do about it? I just acquired this property. And this guy was a big part of that equation of making this a success. And I didn't know of another contractor in the area. And the time that it would take to find someone that I was confident about,

that was a little bit of a scary proposition too because time wasn't on my side because I've now got these large fixed payments between the seller financing and the rehab loan and I can carry it for a bit certainly but I don't want to I mean that's not how this real estate investing thing is supposed to work you're not supposed to make payments out of your pocket your investments are supposed to make those payments for you I want the property to cash flow ASAP and take care of those loan payments so I hopped on a plane met with a realtor I had done deals with in the past shared the story he was familiar with it He had known other people that were that, that are in a similar situation as me.

And I asked him for a referral of a contractor. And he gave me a guy's name that happened to be the same guy that was going to be taken over the projects for every other project that the contractor was working on, my guy that passed away. So it seemed like a really good fit. I made an appointment with him while I was in town and he said all the right things. He said, I've got the playbook for this type of property. I remember his specific word he said, I've got the playbook. I was like, oh, to a football guy, you just said the right word. Like, that really resonated with me.

I've got the playbook for this type of property. I've done it before. I'm doing a few right now. So the entire machine is already up and running. We can do this for you fairly quickly. And that's really what got me. I mean, I was in a position where I didn't feel like I was going to find any better person than this. He just said all the right things.

And this was a person that was referred to me as well. So that gave me a little bit more confidence. He was familiar with this type of project. And I already had it. And he already had everything in place. And then he said the magic word. We can get this done fairly quickly. And I was under a time restraint.

So I was ready to go. I was like, cool. Big handshake, and we were off to the races. I told him to send me a contract and an estimate, and I'd get him his first installment payment to start the rehab ASAP. And that contract and the estimate were in my inbox before my plane landed at home. Everything looked cool to me. So I dispersed the funds, let him go to work.

Now, this wasn't the only project I had going on because I felt so good about my decision. and I felt so good about this guy, I gave him a little bit more autonomy than I normally would have, certainly more than I should have. And after a couple weeks went by, I hadn't heard from him. And I checked in and he said he was on schedule and that he was ready for the second draw. I said, awesome.

Send me some pictures of what you've done and I'll wire the funds after I review them. So I received the pictures. Everything looked as it should. Walls were stripped. I mean, there was no sheetrock and no drywall up. So all the new wiring was in place, new plumbing was in place, the HVAC was all in place.

It looked perfect, exactly how it should have looked at that point in time of the rehab. So the next phase was to start installing the sheetrock and getting things, getting units rent ready. Everything was functional, everything worked now, now we just have to make them livable. And then two weeks went by, I called again, and he said he needed another two weeks due to the weather conditions. And in the Midwest and the South, I guess they have weather there, as you're all experiencing right now if you're in the Midwest of the South, even the North. and gosh, here on the West Coast we're experiencing rain like we haven't received probably in, I don't know, five, six years. So it's nice. But there's weather all the time there.

And I was like, okay, cool. And so I called again another two weeks, and he asked for another two weeks as his finishing crew. They got tied up at another job. And I reluctantly was like, all right. Okay, what can I do, right? It seems like we were a little bit ahead of a schedule as it was. And so, okay, if he needs a little bit more time, things happen. I get it.

And then I called him a few days later just to confirm his crew was finally on the job, and I got a voicemail for the very first time from him. And so I waited a day, no callback. I called again, voicemail again, no callback. And again and again, I didn't hear from him for almost a week. And at this point, I'm starting to get nervous. Like, what happened? Where did he go?

And so when we finally did speak, about a week later, he said he had a death in the family and that he had to take an emergency trip out of him. town and I was like I'm just a side note there since I've been in real estate I am involved in more death stories than I've ever been before and that goes all the way back to being a real estate agent and you know it's just like I've never heard of so many people have excuses or reasons to avoid something or a delay in something or to not do something at all because of a death until I got into real estate now it's the type of thing it's a perfect excuse because you can't call them on it because how insensitive would that be but I just noticed a huge surge

and excuses in my life around death that even yeah it's just anyway let's get back on track um i gave him the benefit of doubt i'm certainly not going to question that from anybody okay i'm not a cold-hearted snake right and so but but he said the good news was his crew had been working on the project while he was gone and there were only a week away or so from being finished and he'd be ready for his final payment and i was very happy to hear all of this i calmed down my nerves calmed. And so I scheduled a flight so I could walk the property and see it myself before I released that final payment, which I didn't, in hindsight, he obviously was not expecting me to schedule that flight and make a personal appearance because when I got there, I couldn't believe

what I saw. Now, I'm not an experienced rehabber. I'm not a contractor by any means. I'm not a fix and flipper. I've got a couple under my belt, but they're very minor projects that are very easy to do. I've always had really a partner on those projects that brought that experience to the table and they made sure everything went smoothly and happened as it should. In fact, a hammer in my hands is a rather dangerous weapon, dangerous to myself. And I know if a contractor wanted to get away with some shortcuts or some shenanigans, it wouldn't be that difficult to get stuff past me. I mean, they got tricks and hacks and stuff where they can cover stuff up pretty well

to the naked eye you wouldn't notice. But I know a crappy job when I see one. I'm not a total idiot. And this was just about the worst rehab job I had ever seen. Nothing was lined up. I mean, like, from the door jams, they were crooked, the doors wouldn't close right, to the floor tile were crooked and poorly cut, to the kitchen countertops. They were like not even level.

To the kitchen cabinets, they were all crooked. And to, I mean, to the bathtubs. I mean, the bathtubs were laid in crooked. And I was like, what the? I mean, I was pissed. And I laid into him harder than I think I've ever. ever laid it into anybody up to that point in anybody since. And he just sat there and listened and did not argue back.

He was just quiet. And after I was done screaming and yelling and he said, you know, Matt, you're right. I'm sorry. You're absolutely right. This is a terrible job. I'm a little overworked. I tried to rush this to meet your deadline and I failed. So here's what I'll do.

Give me just two more weeks. I'll fix everything that you pointed out. I'll go ahead and I'll just do everything. It'll be on my dime. And then I'll even pay for your plane ticket to come back out and check the work. And I was like, after I cooled off, of course, I respected his honesty. He seemed sincere. I liked his sincerity.

And I did like the guy anyway. So, like, I had no reason not to believe him. He had good excuses. He took responsibility for everything. And his gesture of fixing everything out of his own pocket and paying for my plane ticket. That all sat okay with me. and wasn't happy about it, but I was like, okay, I'm still going to keep the big picture in mine, and let's get this done.

So two weeks passed by, I called him for my plane ticket, and you might have guessed by now, right? You might be knowing no answer. Yeah, I called two to three times a day for a week, no answer. So I bought a ticket myself after a week of no calls, and I paid his office a visit. And guess what? Yeah, you could probably guess this one as well. The office was empty, and it was locked up. Dude was gone.

So I went to, my first call was to my attorney, went to file a lawsuit, and my attorney found that this guy wasn't a licensed general contractor. In fact, he had no licenses to speak of, no broker licenses, no nothing. It wasn't even a real estate licensee. And there was no record found of him at all. And now I'm like, stuck. I had a decision to make. You know, where would my time and resources be best spent?

And what would better serve the greater good of this? project and my overall business. Right? So let's take my emotions out of it. Let's take how upset I'm out of it. Let's take, let's just take all of that, you know, stuff that's not really going to make a difference at the end of the day out of it and decide what's best for the greater good. What decision do I make?

So ultimately, I decided just to let it go for now. Just for now. Let me set it aside and let's get my property into an inhabitable state, get it performing, and then I'd worry about finding this guy later. So I visited the property. it hadn't been touched since I last saw it. And what was worse, it had been broken into, and the copper had been stripped from the entire property, every inch of it.

And if you ever walked into a property that's had the copper stripped from it, it's not a pretty sight. It ain't easy to get all the copper out. They got to tear that place up. So all the sheet rock was just totally destroyed. And so here I am. Now I'm an owner with property distress. That's how I got here initially.

So I called the realtor that had referred this guy to me, wasn't happy with him, and he told me that he had left pretty much everyone hanging and that he had disappeared and everyone was scratching their head because a lot of those people actually knew him. And he was like, wow, that's so out of his character. I was like, what happened? I was like, I don't care what happened. I was like, dude, you refer me to this guy. I need you to help me out of this situation. You live here. I live six states over.

I need your help. I mean, a good portion of my rehab budget is gone. in fact, most of it, how can you help me? And so I'm not going to go through the second nightmare of this whole situation play-by-play, but here's the gist of the second go-around. The realtor offered to manage the project. He said he knew some people that could come in, work cheaply, and correct the mistakes. But naturally, even though it's cheaply, it wouldn't be free.

So I had to go back to the well, so to speak, and borrow more rehab funds and get this thing done. And long story short, the realtor essentially got screwed by the subcontractors he had hired. Not nearly as bad as I did, and they did make some improvements to the property, but the property still looked terrible, and only half of it was really inhabitable. So that's my second go-around. And that second story is just as long as the first one. I was just going to spare you the details there.

But the plan was now, let's move some people in, get at least one-half of the property cash-flowing, and then we'll use the cash flow to start rehabbing just kind of one unit at time. and as those units become available, then we'll move people into those units. And the realtor was also, he happened to be a leasing agent as well for a couple property managers in the area. So he had a little bit of experience managing property. So he said he'd also take the job on finding tenants and managing the property until a permanent solution was in place. And after almost two years of that, this just didn't happen yesterday. I didn't become distressed yesterday.

I've been dealing with this for several years. And after almost two years of him managing this property, The tenants he put in place were such problem to tenants. The property never really cash flowed. I mean, I think half a dozen months of where the cash flow was above the expenses of the property. And the property essentially has ended up to this day, present day today, in darn near the same condition it was when I originally purchased it. So that's how I became a distressed property owner, a motivated seller.

I've got a good property manager in place now, a good crew in place. they've gone and vetted them. They've showed me what they've done, how they've turned properties like mine around before. Like it's no problem. I wish I would have found them first. I just don't have the interest or the desire to go through with this property a third time. I just want to cut my losses.

And so there I'm motivated. All right. So that's how I became a distressed property owner. So here's how I will not make this same mistake hiring a contractor again, moving forward. As they say, you're either getting paid or you're getting an education. I got a hell of an education on this one, and I'm going to pass that along to you. So number one, interview more than one contractor, always. No matter how much you like the first one, no matter how much you like that first one. Always interview more than one contractor. Two, ask to see their license. That seems very

simple. Very easy to forget, especially if they come from a place of competence. They're speaking of competence and confidence and and you know they just seem like they know what they're doing and they're kind of giving you the play by play and you don't have to really say anything then it's like that's easy question to forget and so ask to see their license and confirm with the authorities it's in good standing number three ask to see their insurance make sure that they're insured and confirm it's in good standing that's number three number four insist on being driven by some of their previous work go see some of their previous work and specifically work that's similar to the project that you're asking them to work for you on, the project that they're

going to bid for you on. Number five, ask about their current workload and their immediate future workload. Make sure they're not going to be too busy to give you the attention that your project deserves. Give them an easy out as well if they're too busy. Let them know that you're going to have high standards. You're going to expect deadlines to be met. You're going to expect really high quality workman-like fashion or workman-like manner of your property. And And just let them know this is what it's going to be like to work with me. If you don't want to take it, I understand there's other people. It's okay to back out.

So give them an easy out if they're too busy. Because a lot of people get in and they'll feel compelled to take it because they've gotten so far in the process with you. Six, ask what's the worst case scenario you see with this project and how you're going to avoid it. And if it comes to be, how will you fix it? Ask that up front. What's the worst case scenario you see with this project? And how are you going to avoid it? And if it comes to be, how are you going to fix it?

Seven, are they strictly managing the project or are they going to be doing some of the work themselves? If they're doing some of the work themselves, I don't really like that because they were not going to be available enough to manage the other parts of the project. I'd like to see them as strictly in a management role and making sure everyone that's on their team, whether it's their own personal employees or subcontractors that they're going to manage their work. Number eight, ask for references, of course, right? And check them, actually call the references. and most of the time they're going to, I mean, they're only going to give you references of people that are satisfied, but that's okay. You can still get plenty of information out of them too. Like the one question is if you were to work with them all over again, what would you do differently?

If there was one complaint you had, what would it have been? Stuff like that. You can get that out of even good references because they're only going to give you the best people to call and check up on. But you can still get information out of them. So ask for references and check on them. Nine, be conscious of their communication. during the interview process. A good way to test this is to leave a few of your interview questions out of the initial

interview so you can call back and ask. And try and call back when you're pretty sure they're not going to answer so you can leave a voice message. And even if they, when you do call back, did they pick up the phone or do you leave a voice message? And if you left a voice message, will they return messages in a timely manner? That's a good test of the communication. Number 10, I got this from my friend Mike Hambright. Ask how far away they live from the project.

if they live too far away, you're not going to get the attention your project deserves, especially the bigger projects. You want their eyes on this project frequently. You want it to be easy for them to get to the property should they need to for any reason, and you want it to be easy for them to manage it and watch the development of the project.

Number 11, break up the rehab disbursements into more smaller increments, rather than just two or three large ones like I did. Create multiple milestones to receive their funds. They're going to whine, moan and groan about this. They will, but stick to your guns, all right? If they want to work with you, this is how it's going to be done. Number 12, hire someone to drop by and check on the project.

Hire someone else to do that, especially to check in on every milestone. Have the same person take their own pictures before dispersing the next funds. Have them check on the milestones, make sure they're done. Have them take the pictures. Don't count on the contractor to send you pictures. Because they might not be sending you pictures of that property, of your property. They might be sending you pictures of another property, and you can't tell from the picture.

like it's a close-up shot, you can't tell. And if you can, walk the property yourself each and every time before releasing more funds. Let the contractor know they're being watched closely. 13. Check in with the contractor at least two times per week. I'd err on the side of micromanaging, especially in the beginning of the relationship. They're not going to like this either. But oh, well, hey, this is a brand new relationship.

This is how I work. 14. Remember, you're the boss. You call the shots. If they don't like it, hit the bricks. and find someone else. All right. And then lastly, number 15.

And there may be other things to do here. I'm sure there are. There's plenty. I'm sure there's list 10 times longer than this out there. But these are the 15 that have come up with from my experiences working with contractors. And that is don't shop contractors by price alone. We all try to get the lowest price. We all try to negotiate.

We all get, you know, kind of mesmerized with the profits. if we can cut out certain types of certain expenses or pull back on expenses in the rehab process. You know, in these two instances, shopping for the best deal burned me both times. And it's just much more expensive having to go back and redo work than it is to pay a little more for it to get it done right the first time. So I would say don't shop by a price alone. And, you know, additionally, you can't put a price on time. So you've got to go back and do it all over again. that hurts, especially if you have fixed payments attached to the financing that you use to pull that whole project together.

All right, so those are the 15 things I've got on my checklist now when I start working with a new contractor. And that's the story. That's how I became a distressed owner. That's how I'm going to avoid becoming a distressed owner in this manner ever again. And that was for Latania. That's for Derek. That was for Sam and that was for Frank that emailed those questions. All four of you just so you know, even if you've never met or if you have met, you know each other.

you all email me darn near this exact same question. So that's why I did this episode of that. It was for you and it's for everybody else as well. That's how I became a distressed seller and how I avoid it in the future. There's your answer. Now, how am I getting out of this mess? Okay, that's how I got into it? How am I going to get out of it?

Especially when I have more in the project than I could ever sell it for. So here's how I did it. I've got, I'm in contract now. So I did successfully, and that's actually a different contract than I had from the last episode last week's episode what I told you I was going to enter on contracts is a different one. But I like this one. I've got seller financing a place already of my own, 350,000 at 9%. That was the seller financing I got on the deal.

And I've got another $400,000 in equity partners on this deal. So I'm 750 in already just with the seller financing and the rehab funds to the funds to rehab this property twice. 7.50 in, not to mention the property taxes, the payments. and the maintenance on the building for the last three or four years. That came directly out of my pocket. So I'm probably in a total of $900,000. And the existing value of this property probably lies somewhere between 5 and 550. And that would be the absolute max.

I mean, that's the top that I could ever expect to get 550. Now, I've got almost double that into it. So I'm going to take some losses on this probably for sure. But how can I minimize the losses, or how could I actually profit from, or at least break even. So here's what I did. I went to the seller and I asked for a loan modification. Explain the story to him.

I said, hey, I don't want to default on this loan. I want to carry on and follow through with my word. I want you to get your money. But I need to make a modification on this loan so I can pull this thing off. And so we adjusted the interest rate from 9% to 4.5. So I got it cut in half. But then I promised him a 10% of whatever I, I get out of it above what I owe him.

So the difference. So if it's $350, I owe him. I get $400 out of it. I sell it for $400. That's a $50,000 profit between or equity there. So I'm going to give him 10% of that. So I'll give him an extra $5,000. And that's going to be paid as deferred interest when the property sells.

So that's how I modify this loan with the seller. And then I listed the property at $5.50 and offered to carry back financing with 20% down. and like I said, I'm in contract now with an offer pretty close to that, and it's scheduled to close at the end of this month. So I'm going to take the down payment that I receive, the 20%, and I'm going to distribute that accordingly to my equity partners. And then I'm going to wrap my own financing of 9.95% to the buyer that I've offered. That's how I've sold the property around the seller financing that I have in place at 4.5%. So I've got like a 4.5, yeah, a 4.5% spread there of arbitrage, creating a decent chunk of a decent chunk of cash flow. It's not great, but it's a decent chunk of cash flow that'll be distributed according

to the equity partners as well. Now, when the buyer pays off my financing, that underlying financing is going to be cleared simultaneously. We're going to hand it all over to a third party servicing company. They'll take care of all of that. And whatever is left over, hopefully nothing, but whatever is left over, I'll be taking on as personal debt with my equity partners and I'll pay them back that way. So not the best scenario, but I do got to cut my losses. This thing has been causing me to lose sleep for the last couple of years for sure. And, you know, even if the buyer holds the financing long enough, I might, I can break even on this. And I might, it might even make a profit on it.

At the very least, I'm minimizing my losses significantly. So that's how you win some, you lose some, and probably going to end up losing some on this one. But what a lesson. Yeah. I mean, you're making money. You're getting educated. And I got a huge education on this. This is why I always hear when people complain about the price of real estate investing education.

And some of it is really seemingly expensive. on the front end. I mean, $50,000 packages, $100,000 packages. I know Rich Dad over there, they're like at $120,000 if you bought everything that they've got. And people say, that's outrageous. But you go in, even someone educated like myself, who's got more than 1,000 transactions under their belt, I've got over 100 rental units. I flip and wholesale 15 properties a month. I'm good at this. I'm really good at this. But there's still a new lesson in there to experience in every single transaction and this one cost me a lot more than a rich dad education but hey it's worth it because i can carry that forward and i know i'm never going to have that again because i know how much

profit and how much potential is in real estate that it hurts it wasn't fun i don't want to repeat it but i'll get it back it's just money we'll just go back and next month make some more all righty so before i go if you want to become the recognized real estate investor in your region and you'd like to get organic motivated seller leads and definitely go to no agent needed Book.com for the details. We have started the project, but it's not too late to get in. Go to no agent needed book.com. I'm going to make you famous.

I'm going to send you motivated seller leads forever. And I only have room for one real estate investor per region. Regions are being snatched up. The process has begun. There's still time for you to jump on board, though. This is first come, first serve. I've already had to turn people away from their markets. There's like a dog fight for Phoenix, Arizona.

So if you're in Phoenix, don't apply because that's gone. and I got four people, I think, on the waiting list. We'll go to no agent needed book.com and get the scoop there, and perhaps we'll be talking soon. I sure hope so. That's it for today. I'll see you next week on another episode of Epic Real Estate Investing. God bless and to your success. I'm Matt Terry O. Living 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.