Epic Real Estate Investing - How to Go Faster! | 802

Episode Date: October 11, 2019

This Friday, Matt explains how to move quicker on your real estate journey. More specifically, he reveals how to make your RE portfolio faster, why you should not underestimate your first deal, and how to get in touch with likeminded people. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 REI.

iAse.com. Here's Matt. As much as I enjoy looking at real estate and discussing cash flow, what I enjoy even more is getting to know like-minded people like you. I mean, not only do I enjoy meeting everybody, everybody enjoys meeting everybody else. Real estate, it's a people business and getting to know like-minded people, quality people. It's only going to improve your experience investing in real estate.

You know, at a cash flow savvy event we held recently. I met a gentleman, Eric, and we talked a bit, really nice guy. And I asked him how he was doing with his investing. And he said something like, I'm only receiving $1,000 a month, but I'm working on it. And he kind of had his head hanging low. I don't know, he's almost looking ashamed, which confused me because I was thinking about it. And I realized that he has absolutely no idea what he's accomplished. And we talked about it.

And I enlightened him and left him in a better place. And we had a good time, a good conversation. Now, in the grand scheme of things, it's true that an extra $1,000 a month is not going to turn most people's lives around. Certainly helps, right? but your first or second real estate deal, it's not going to set you free all by itself. That that certainly wasn't however for me, but I knew I was going to have to start with that first one. I had to do it because only then could I build on top of that and eventually get my monthly passive income to where it needed to be. And what that first step did, that first real estate deal is what is going to do for you.

it's going to propel you forward. It boosts your confidence. It raises your belief. It unlocks a chain of events, a sequence that really starts to snowball and ultimately can turn into an avalanche, an avalanche towards your financial success. And, you know, that first step is just,

it's so important. It's so important for multiple reasons. And one of the key things that makes it so important is that you're never going to get to step nine, 10, 11, or 12, and so on, you're never going to get to a portfolio of 20 properties, the type of portfolio that could really set you free and make you really comfortable forever, unless you get that first one done. Don't think so little of that first step.

And even worse, don't think so little of it that you don't even take the first step. You know, personally, I find that getting intentional about creating my environment can be a really good way to spur me into action whenever I want to do something new. And I know I first need a mentor and I need a plan. Then I need an environment, a supportive environment to support me. So I look to interact with like-minded people. Specifically, I look to interact with doers, you know, talkers. They're everywhere. Be selective and look for the doers because they are the people who are. already doing what you want to do. The first place I like to look are the online sources. For example, I've mentioned here many times, meetup.com. Where you meet people online is where

the initial introduction happens, but then you get to meet up as a group face-to-face offline. That's a really good starting point because you can just type in about any interest that you can think of there over at meetup.com and you'll come up with a number of groups to meet with. And you'll find that there are no shortages of real estate groups. Another option is you should also visit the real estate investor meetings, specifically the RIA meetings. Go to national r-e-I-A dot com. National R-E-I-A.com.

And you can look for meetings in your area and put those meetings in your calendar and make those dates non-negotiable. Then create a list of questions, specifically. the questions that if answered would mean that there's nothing else standing in your way. Come up with good questions. Questions that when you get the answer, it's actually going to make a difference in what you're pursuing. Look for the people who are the doers to answer them for you. That's step two. Come up with really good questions and then ask the right people. This is a way to move forward in spite of yourself. You know, just as peer pressure made us do stupid things when we

were kids, that same peer pressure, when applied by a group of like-minded action-taking peers, can push us towards positive, bold steps as adults. So you have something like meetup.com, you have national rea.com, and a third option to consider is forming your own group and inviting like-minded people. I'm actually in the middle of doing that right now, two of them, in fact. I'm creating one locally where I live and then one nationally where we'll get together a few times a year. And I'll be sharing more about that over the next coming weeks. But what I'm really clear about is how much further and faster you can travel when you are intentional about creating your environment,

when you're intentional about who you spend your time with. In my opinion, there's no faster accelerator to your goals than getting around the right people. supportive people, successful people. So if you can't find one to join, make one. Because the saying goes, you can make excuses or you can make money, but you can't make both. And if you're just getting started and real estate at this point is a little bit of a daunting and intimidating venture for you, I want you to stop for a moment and just think about something right now that you're really good at. there's something that you are really good at.

You are really good at, I don't know, maybe it's snowboarding or fly fishing or playing the guitar. Or maybe, you know, you're really good at your day job. And now think back to your guitar lesson or better yet, your first day on the job. And you remember how nervous you were? I mean, you might have had a little fear of looking awkward or long. or you didn't like the feeling of not knowing what you're doing or how to do what you're doing. Do you remember that feeling? Whatever that thing is for you, though, it's no sweat now, right?

Easy peasy, lemon squeezy, as my eight-year-old says. So I've got some good news and I've got some bad news for you. The bad news is real estate, it's going to be just like that. You might feel a little awkward or lost in the beginning. And the good news is real estate. It's going to be just like that. That awkwardness and that lost feeling, they're temporary. Success in real estate will become second nature to you, just like your job is now.

I mean, you can shuffle those papers and you can answer those phone calls and you can talk to those clients like you are born to do it. It feels totally natural right now, right? Yeah, real estate, it's going to be. just like that for you. And once you take that first step in real estate investing, it'll be second nature to you in no time at all. Soon you're going to look back and you're going to wonder why you didn't get started earlier. And being intentional about creating your environment, in my opinion, that's the best way to start. So you've got to get started. In the immortal words of

Mark Twain, don't wait to buy real estate. Buy real estate. Buy real estate. state and wait. What are you waiting for? Stop getting ready to get ready and just go. That's it for now. God bless and to your success. I'm Matt Terrio, living the dream. Cash flow.

Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know home for us, we got the cash flow. This podcast is a part of the C-suite radio network. For more top business podcasts, visit C-Sweet Radio. com