Epic Real Estate Investing - How to Get Started Investing in Real Estate? | 3rd Degree Thursday

Episode Date: December 18, 2014

When tackling the problem of how to get started as an investor, it’s best to begin with the end in mind.  Meaning the first step is to get crystal clear about what you hope to achieve through real estate investing.  The next step is deciding how much of the work you are able and willing to do yourself.  And the final step is so simple, you’ll never guess it.  Listen and enjoy! ------- If you have a question, comment or concern that you’d like Matt to address live on the show, send it to him at [e-mail] and type "3rd Degree" in the subject line… or leave him a voicemail on the Epic Hotline at 1-888-891-7203.   See you tomorrow for a new episode of Financial Freedom Friday! What interests you most? E ducation P roperties I ncome C oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

Hello and welcome to another episode of Third Degree Thursday, the show where I subject myself to you giving me the third degree on anything real estate. And today's question comes from Phil Nagel. And Phil writes, Hi, Matt, I guess my challenge in real estate right now is how to even get started. My wife and I have been talking about getting involved in real estate because we see both our parents having several rental properties that do quite well, and we would like to achieve at least that level on our own.

Phil. All righty, cool. Thanks for the question, Phil. And thanks for listening to the show. Before I get to answering Phil's question, last episode, I mentioned a voicemail broadcast system that we use here. And I couldn't remember the service's name, and I promised to share that information with you in a laser episode. So here we are. And actually, it might have sounded like I was trying to withhold the name of that service from you.

And that wasn't the case at all. I really did draw blank while I was recording the episode. And besides, you know me better than that. I give away everything here. That service is called Sly Browell. And here's how it works. It broadcasts an audio message directly to your prospect's voicemail box. It just comes up as a missed call on their phone and records the message as a voicemail.

So they never even have the opportunity to answer the phone. Your prospect doesn't get that annoying recorded message experience. It goes straight to a voicemail. And that's a standard system that we use right here in our follow-up system. Oh, and you can customize the caller ID as well. So if you think this would be a good fit for your follow-up system, the service is called Slidebroadcast, and it can be found at Slivebroadcast.com. It's very cool.

The open rate is like 100%, right? It shows up as a miss call, and you're like, hmm, I didn't even hear it ring. And then they call to see who left the message, and boom, there's your voice. And so Slidebroadcast.com, and I am not affiliated with this service in any way, shape, or form. It's just a referral to you because I'm happy with how it's worked in my business, and perhaps you'll have the same experience as I have. All righty. So now, back to Phil's question. Phil basically is asking, how do you start it? So I'm going to answer Phil's question in 30 seconds right after this.

Listen, when it comes to your financial future, I've got some good news, I've got some bad news. The good news is you can make a million bucks in real estate. The bad news is there are a million ways to do it. Which strategy do you choose? Picking the right one can be a problem. The new book, Epic Freedom, is your story. solution. Get a free copy at free epicbook.com. Epic freedom. The two easiest and fastest strategies to a paycheck in real estate. Go to free epicbook.com. Free epicbook.com. So, Phil, to get started, it's pretty simple. Just get started. And when you get started, begin with the end in mind. Where do you want your real

estate investing to lead you? Know that up front. Make that decision up front. Is it, Is it to supplement your current income or is it to replace it entirely? So define how much income from your rental property you'd like to receive on a monthly basis. And then divide that number by the average positive cash flow you'd expect to receive from each property. And boom, there you go. Now you know how many properties you need to acquire. So once you know that number, once you know what that number is, take your mind off of that number entirely and just focus on the very first one.

Okay, focus on that one. It removes all the overwhelm. Okay, you've got it written down on a plan. Once you get conquered that first one, then you can move on to the second one. You can refer to your plan as needed. But just focus on the first one as you're getting started. And how you go about acquiring that first one,

that's going to depend greatly on the knowledge, the time, the money, and the credit that you have available to you. So make a note of your strengths. Where are you strong? Are you strong in knowledge? or you're strong on time, you're strong on money, strong on credit,

and also make a note of your weaknesses as well. And then latch on to someone or something that complements your weaknesses. For example, if you're short on knowledge, if you don't even, like, you don't know where to get started because you don't know how or you just don't like,

have the knowledge to get started, it might be a good idea to make an investment in your real estate investing education. Or if you're short on money or credit, hey, that might be the education you want to take on. You might want to learn how to acquire without money or credit.

or you know, you bypass the education altogether and team up with someone who has money and or credit. Just depends where your strengths and weaknesses are, what you're going to need. And if you're short on time, which plagues many, probably most people, maybe it would make sense to leverage someone else's system or leverage someone else's team to do all the time consuming work for you. You know, when I created this podcast, it was my goal to provide a place for anyone, to anyone that wanted to, that they could get started investing in real estate

regardless of what they had to work with. And since, I've produced 200 episodes of free information. This is actually the 200th episode today. If you take into account all of our regular episodes, all of the third-degree Thursdays, all the financial freedom Fridays, this is episode number 200. So thank you.

Thank you for supporting the show. Feels good to be here. So I've put together those 200 episodes of free information for you. I've put together what I think is the premier real estate investing education program online at epicprocademy.com. And I've put together a complete done for you system for those time strapped busy people at cashflow savvy.com. So when you're wondering where or how to get started, the only two things that are really in your way, Phil, as I see it, is one, knowing exactly what it is that you want out of your real estate investing. Okay, so you mentioned your parents. Maybe it's something like what they've got.

get a little more clear on that as I explained it in the beginning. So that's number one. And two, the decision as to whether or not you're going to get your hands dirty and do it all yourself, or if you're going to step back, keep your hands clean, you call the shots and then have somebody else do it for you. So if you're more of a hands-on person, our solution for you is to go ahead and get started at free real estate investing course.com. Shows you how to find sellers. It shows you how to find buyers. And it shows you how to put them all together for a check and do that all in 30 days.

or less. So you can do that at free real estate investing course.com. And if you're more of a hands-off person, cool, download our cash flow report over at cashflow savvy.com. That's there for you for free. At the very least,

you'll discover the top 10 cash flow markets in the United States at cashflow savvy.com. So I hope that helps, Phil. I almost wish I had a more complicated answer for you because this is rather simple. But just plan the work. It's very simple. Plan the work in the manner that I laid out

and then work the plan. Just take it one step at a time. Travel as far as you can see, and when you get there, you'll see further. You don't need to see the entire staircase to take the first step. Thanks for the question, Phil. I'll see you all tomorrow for a brand new episode of Financial Freedom Friday. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.