Epic Real Estate Investing - How to Make an EXTRA $1,000,000 This Year! | 1119

Episode Date: January 28, 2021

In today’s episode, Matt commits to make an extra $1,000,000 in real estate this year! Stay tuned as Mr. Theriault shares his strategy to make this additional income in a way you can copy it and make it for yourself, as well! 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. Hey there, Epic Investor. It's Matt Terrio from Epic Real Estate, where we show people how to invest in real estate with an emphasis on retiring early. And this is the Epic Real Estate Investing Show. And I do this show because, one, I enjoy it.

Two, I love to help people. And three, as I've recently come to keep recognizing that I've got a lot of clients that are outgrowing me, which makes me feel really, really good. There's a couple of them. I'm confident. They're doing way better than me. And many others who have just kind of hit a point like,

thanks, Matt, I got this. I'm on my way. So that is really, really rewarding. And that's just something I never thought would feel the way that it actually feels. So thank you all for doing the work. Thank you for sharing with me your results. Here we are over a decade now with the podcast doing this together. And by the way, if this is your first time here,

really glad that you've found us. We've been here for a decade. Where you been? But if you like what you're here, make sure you hit the subscribe button before you go. And if this is not your first time here, welcome back. And thank you for continuing to tune in. Thank you for continuing to listen and sharing this with your friends and family. We just wouldn't be here. We, like it's a bunch of us. I wouldn't be here if it weren't for you doing that. So I really appreciate that. So thank you. So like I was talking about, how helped so many people over the last decade. And even like just most recently, RIA's client, Brendan, Brendan McCaw, who will, he's going to be my next client to pull off this rat race escape. And he's just a few months away from his early retirement.

And that's what we do here at the show. It's what we do here at Epic with our students. And, you know, we've been working together for not too long, just about two years, I guess. I guess we all have to count the COVID year, an actual year now, even though it seems like it was kind of like we all just kind of stood stuff. But time certainly did not stand still. It continued to move on. And, but Brandon, he's a train engineer. I mean, like he's actually, woo, woo, rise the train and he's been doing that for 11 years.

He's tired of traveling, wants to stay home more. And he's been doing real estate on the side. And he'll be replacing his train job, his day jobs, income with passive income generated from his real estate in just a few months here. So, Brandon, if you're listening, congrats. And you've been a pleasure to work with. but, you know, once we got you started, there wasn't a whole lot that we did. I mean, we got you started. We got you on the right track, and, you know, you reached out here and there, but you figured it out, and you just did the work.

And it's that simple. There's no magic to it, right? You just do the work, be consistent about it, and exercise just a little bit of discretion and good habits and some work ethic. And just have a good character. And it's not that difficult. So congrats, Brandon. You know what? And like I said, I had never imagined this for myself helping people do this.

And I love it so much to the point now. And I talked about this last year. I think Mercedes and I did a New Year's episode together about the education, the training, the mentorship, which we're going to continue to do. But we recognize how we've gotten so lost in this work and lost sight of, our own ambitions. I know I've certainly lost sight of my own. Mercedes has her own things that she wants to do. But what I mean is, as well as I've done for myself, I'm not done, right? I've got more to do. And I want my real estate portfolio to be bigger. Not too much bigger, but I certainly

want to be better. I want to start swapping out and upgrading the properties that are within it. And so I'm going to make a new commitment this year. And we made this commitment, like I said, last year. Mercedes and I did this episode together. And then, you know, we seemed like we were on the right track. And then this whole virus thing hit. And in hindsight, there's no excuse for us. There was no excuse or there is no excuse for us to have stopped and not pursue it.

But I think it just kind of, you know, knocked everybody back on their heels a little bit in confusion and uncertainty and kind of put us in a place. Like we still had a decent year, but we did not have accomplished. the things that we wanted to accomplish. So we're like, all right, we're still not out of the woods yet. We're still not out of this pandemic thing. But knowing what we know now, having gone through this almost a year now, let's just forget about it, right? Let's just forget about it.

We'll do what we're supposed to do as far as staying healthy and keeping those around us healthy. But let's just get to work. Let's not let anything get in the way. And so I'm going to commit to making an extra million dollars for myself in real estate this year. And I want to share with you my plan. I want you to hold me accountable.

I want to declare it and put my word on it. So just put all these additional forces to get me to stick with the plan and not come back this time next year with a different excuse as to why I didn't do it. I think this year was kind of an exception. I think it's a pretty good excuse. or, you know, I think everyone can understand and relate because it's just the whole world kind of was, you know, tossed into this tornado of uncertainty. But anyway, I want to share with you my plan and do it in a way with you so you can copy it and, you know, you can create this for yourself as well. Maybe it's not an extra million for you. Maybe it's just your first million.

Or maybe you can copy this plan and just kind of take the same methodology and, you know, do your first six figure year. maybe your first six figure year on the side. Okay, so that's what I'm going to do. And there was something that's going on right now, and I'm not going to go through the news today, but something, like I've been pretty bullish in the last few months after we realized that the market wasn't going to crash in 2020. So by the last four or five months,

I've been pretty bullish on this market being really, really strong in 2020 and pointing to all the different normal metrics that we would look at as real estate investors, you know, like the mortgage forbearance and the eviction moratoriums. And I'm just noticing, like, if you watch those graphs and you can see them in a number of websites online, but if you watch those graphs,

they go up and down, up and down, right in almost perfect alignment, almost in perfect sync with the virus lockdowns. When the guidelines or the restrictions are lift, then all of a sudden people start paying their mortgage, right? People start going back to work. And it's miraculous on how that happens. as people start paying their rent.

And so that's why I was just kind of like, okay, we're going to get through this. Like we're sustaining right now. I know it's really tough for a lot of people, but for the most part, it's pretty remarkable. We haven't collapsed. We're pretty resilient as a nation, I think. And I'm really bullish on it. And I still am to some degree, but I will tell you. And, you know, I've never really said this is which way I voted.

But you could probably read through the lines and it's not too difficult to tell. But I'm also, I'm not a maniac about it either. Like I'm not a psycho on one side or the other and have that deranged syndrome that both sides seem to have for each other. But I am a little concerned with the new administration that's come in now. And he's written more executive orders than any other president in history, I think is the statistic. I'm not sure if it's the most executive orders like in his first week or the most, most executive orders ever. Regardless, he's written a lot. And the one thing I'm noticing that's really kind of concerning me is how he's impacting jobs, right? The what you call it is no, is no,

no secret now as far as the pipeline being halted. So there's 11,000 jobs just boom, done, gone, all right? So in the grand scheme of things, 11,000 isn't a big number when we got 100. of millions of people in our workforce. But now the restrictions on the oil drilling on federal land in five or six states, the fracking thing that's coming out, it's weird. Like he says, no more fracking. And then today on the TV, he said, I'm not going to stop fracking. So he's hard to follow.

But that is certainly, and then our reengagement with the, the Paris climate thing and this big move towards the green energy and the renewable energy, which I'm actually for. I would love to have a nice clean air and nice clean energy. I'm all for that. But nothing's in place to just flip the switch off on coal and flip it on the green and we're running. But he seems to have flipped the switch or he's flipping all the switches on the coal without these people having any other place to go. So employment is something I thought was going to bounce back as soon as the virus started to dissipate.

But maybe not. It'll be really interesting to see to watch the employment numbers over the next 30, 60, 90, 120 days. And then the bill that's up for vote or it's being passed around. I'm not sure exactly where it is in the process. But the $15 minimum wage thing. that is also, I have no doubt in my mind that's going to cost jobs. And the sad thing about it is it's small business owners that are going to suffer and the people that are making the decisions aren't small business owners

and don't think it's that big of a deal. Because one of two things are going to happen if businesses are forced to start paying $15 an hour. And I will say big businesses and small businesses, or the like. But on the small businesses, they can do one or two things. They're going to have to charge more for their goods and services or they're going to have to let off people. And probably have to let off even more people because so many people are small businesses are wounded and limping to trying to just survive right now. That's going to be a big mistake. I don't know. That just seems it's just so plain and clear for me. And so either

they're going to charge more, which all of a sudden, after a while, we're going to have to increase the minimum wage again because all of a sudden, $15 an hour isn't enough because everyone raised their prices on everything, which for sure, a company like an Amazon and a Walmart, which is probably who they really have their eye on and who they're going after, they're for sure going to just pass that on to the customer. That'll be just, we're just going to do a couple little data entry points, and boom, all fixed and no big deal. But that small business owner, it's going to impact them. and that small business owner employs more people than those big businesses do.

So all of that to say, I am looking at employment possibly being an issue with the job market and really slowing down the real estate market. That's where I'm going with all this. And I am looking at this from straight. We've already voted. We've got to wait a few more years. I am off social media with regard to politics. The news is never on anymore.

I don't give a darn. Now we know who's in charge. Now we have these new rules coming down. Now I'm just going to play the game the best I can inside of the field that I've been given. So this is not a political statement. I'm just looking at numbers. I'm looking at data like I would during any other administration. So let's watch that.

I think that's a big caveat right there. Let's watch the unemployment number. Because if that ticks up again as we are coming out of the virus, we're going to know right away these moves that President Biden is making right now are having an impact. And I don't know how they're going to respond to that. At some point, I mean, right now, I can't believe I would even say this, but I wonder if they even care or are they just out of touch, right? They're either just ignorant to it or they don't care.

It's got to be one or the other, right? The game is a stupid or liar? Which one are you? Are you stupid or are you a liar? Anyway, all right. So I'm just looking at that. I don't know, that's not even on my notes here to talk about today. But I started thinking about it as I was thinking about my new plan.

So anyway, let me show you my plan. So I'm going to think about, we'll touch. I'm going to keep my eye on it. You keep your eyes on it. And then we'll compare notes. Okay. So my plan is to make an extra million dollars. First thing, a million dollars.

It's not what it used to be, right? It sounds like a really a big giant pile of money, but it's not that much money. If you've never made a million dollars, it might seem pretty far away. But just kind of imagine if you had a million dollars and you never had it before, you know, what would you do? You might go get a decent house. You get maybe a new car for you and the spouse. You might take a couple of nice vacations.

You give you some good spending money for a year or two. And boom, you're done. It's it, right? So it's really, it can be difficult to make that million dollars, but once you got it, it can disappear really, really easily. I mean, I guess it depends on your tastes, but, I mean, it's a lot of money. It's just not forever money anymore. It's not forever money like it used to be.

So how can we make it forever money, though? That's the big question that I'm going to answer here in a second. But do you remember that commercial, I-N-G, what's your name? number, right? And I just made it, I just released a video on YouTube about this right now. I didn't play the audio from the video here. I'm just going to kind of recreate it and read my notes from that from there. But there was an old ING video. It was called about what's your number? And they just had people walking around the streets and they had this big giant numbers under their arms, like 1,343,000, so and such. So it was just kind of suggesting that ING had their whole plan so dialed in.

they knew exactly to the penny how much you would need to enjoy your retirement once you hit your retirement age. Now, that is, that whole concept, it was a cool commercial. They had some funny moments in it, a bunch of different versions of it. But that's all focused on making that pile of money. How big of a pile of money do I need a retirement that's going to allow me to live? And the one guy's a gazillion, a bazillion, I don't know, whatever. I'm just going to throw money at it until something good happens. It was like insane. It was hilarious. But that pile of money, because we want that pile of money to be so big that it can create a stream of money by the time you hit retirement age and hopefully that stream lasts long enough

going into, at last year for the rest of your life, right? So that's how most people go about it even to today, to this day. You know, either they don't have a plan or that's their plan or if their plan, they're focused on this specific number. And I just suggest it's the wrong number to focus on, that pile of money number. Now, making a million dollars, let alone an extra million, this is a lofty objective that takes most people a lifetime to reach if they ever do. But for those that do reach their number, it's believed that it will generate this passive income that's going to allow them to retire. Okay, so it's, you make the mountain of money to eventually create the stream of money.

And if the stream of the money is the goal or the end goal, why do we make that the first goal? Make that the primary goal. Why not focus on that streaming number first? We're just going to flip the equation. Because that if you focus on the stream of money first to create the mountain, right? The stream of money, like what's that monthly income number is the one we want to look at, not how big is that pile have to be?

We focus on that. That's a three to four year plan for the average person. if you just buckle down and just execute a nice methodical little plan, that's a three to four year plan. Where the old antiquated version, that's a 40-year plan, 10 times is hard. And both are hard work, by the way. I'm not saying one is easier than the other. Both are hard work, but it's just how long do you want to work hard? Is the question, do you want to go four years or 40 years?

No-brainer, right? So that's what I'm going to do as far as my plan on this extra million dollars. I'm going to focus on the stream that the million dollars would generate. So just I was kind of just reverse engineering this and kind of sharpened in my pencil and kind of figuring out. So in 2020 last year, mutual funds in seven broad categories averaged a return of roughly 10%. So that's almost double, by the way, the average annual return over the past 15 years. That's pretty remarkable. During a virus year, a pandemic year, the mutual funds averaged almost double than they normally do over the last 15 years.

15 years. So I'm not sure if 10% is sustainable for the rest of my life, but I'd say 6 to 8%. That probably is, right? I don't have too much in the stock market. And the stuff I do have there, I just kind of put there myself. I own a few individual stocks. And I read an article about this mutual fund, so I put some money in that one. And I read an article about this dividend stock over there. So I put some money in that one. And it doesn't amount to a whole lot. But I just have some sitting over there. But that's all I got. And, you know, 6 to 8%? someone that knows what they're doing, should be able to get that.

So I'm going to use a number in the middle. We're just going to use 7% as my target. So between 6 and 8, I'm going to use 7. So $1 million generating a 7% return would produce a monthly passive income stream of $5,833. Right? $5,833.

By the way, while I was researching all of this stock stuff, I stumbled across these two little services, Weebel and Robin Hood. because I've been on e-trade for a while, and I started looking at these others, and they've got some really cool promotions. So they've got these things for free stocks if you open up an account with them.

So over at Weble, and I put a little link there, so it's easy to remember, so you don't have this long, giant link to remember. It's four-free stocks.com. Four-free stocks.com. That's the number four. Don't spell it out.

And you go open up an account and you get four free stocks. And they're a real stock. I got Bank of America and I got Serious Radio stocks. And Serious Radio is up 7% just today. So that was kind of good. And then Robin Hood, they'd have the same similar type of promotion. And that's MoreFreeStocks.com.

So go to 4Freestocks.com at Weble. Morefreestocks.com at Robin Hood. Like I said, not my specialty, but I did it because I was curious and I got my free stocks. So I only put $100 in each account, and that was enough to get the free stocks. All right. So now, cash flow on average, if I look at my property, so $5,833 a month is the goal. So if I'm going to say average $250 per property, I'll just say that's the number. That would mean I'd have to pick up 24 properties this year to hit my goal if I were only going to count the cash flow return.

And that's what I'm going to do for this, for just my goal. and to know that if I reached my goal or not. $250 a month per property times 24 properties. That'll give me that 5,833. But while I'm doing that, you know, I've got the three other profit centers that will be working for me, pushing my return far above that 7% target.

But that 7% target, that's the number. You know, appreciation is historically a 3% per year. Amortization that pays down the debt. Not much in the beginning, but it does build equity. And those two will create the equity for me. but within a year's time, most of that equity is going to really come from me just buying at the right price, buying below market value with equity already in place.

Then, of course, there's depreciation and the deductions, profits that really most people overlook unlikely because it's not money that really lands in your pocket, but rather money that just stays in your pocket. You don't have to send it to anybody. So we're going to do far better than 7%, but I'm just going to use the cash flow of the 7% as the gauge. All right. So here's the beginning of the plan. and I'll just kind of reverse engineer it for you.

And I know that the number of deals I do, it's going to be in direct proportion to the number of offers that I write. I've been saying this to you for 10 years now, and it's exactly how I think about it when I'm thinking about my own business. I'm not just telling you to go do something that I don't do myself. So that's exactly how I look at it. And if I already use a worst-case scenario, I'm confident that I will do at least one deal,

and this is really conservative for every 50 offers I write. I'll be pretty mad at myself if it takes me 50 offers every single time to get one deal. But I know I got to keep writing offers. That's the only way it's going to happen. Inside of the Legends challenge that we do at the beginning of each month, our goal is to do these 100 offers in 10 days. And so that's why they call it a challenge, right? But the whole goal is if just a straight beginner, never done a deal before, writes 100 offers, they're likely to get one of those accepted.

So I'm going to just cut that in half for myself, 50. So 24 properties times 50 offers. That's 1,200 offers I have to write to get my 24 properties. And so if I divide that up monthly, so that's 100 offers per month. So 1,200 offers divided by 12 with 100. And here we are in January. It's essentially just got a few more days left. So I'm going to be starting this on February 1st.

Actually, February 2nd. I think February 1st is a Sunday. and we're doing our intensive, by the way. If you're in the intensive right now, good to see you. But that's where I am right now. But beginning of February, so that's going to, I only have 11 months to do it. So that's 109 offers per month. Then if I just reduce that down, it'll be six offers per day if I take weekends off.

Ready? So right there, we've just reduced this million dollars down to just six offers a day. So if that's now starting to feel a little bit more doable, a little bit more achievable to you, because that's just kind of how that works. If you just break it down, I just got to focus every day in writing six offers. I wake up in the morning and say, which six people are getting offers from me today. Right. So here's the plan for finding six people per day to make these offers too.

Right. So I'm going to start with, and I'm going to go aggressively. I'm going to work the Craigslist classified ads in the real estate services section, the real estate for sale section, real estate wanted section, wanted by owner, general community sections. So there's four or five places inside of Craigslist that you can post your ads. So I'm going to go for that. And I'm going to do that successfully, or excuse me, aggressively and successfully.

Freudian slip in a good way. But the thing is, when I first moved to Vegas, I had really good success with Craigslist. I kind of put it to the test. Like, should I even recommend this anymore? Like, do people even go to Craigslist anymore because it'd been so long? So I did myself and it worked really well. And if you work it right, if you work it in the right way, the way that we show you in the Legends Challenge, it does work really well. I'm not sure why I stopped, actually, the nature of maybe entrepreneurs, I guess, you know, we all find something that works, get bored with it and move on.

So not going to do that. I'm going to re-engage in that. Then next, I'm going to, so that's number one, work Craigslist. Number two, I'm going to work for sale by owners and for rents through all of the very very, various online channels that are available out there. Like the obvious ones, like Zillow and Craigslist and Redfin and property management websites. We'll do all of those. And then there's the military websites.

And then there's the Section 8 websites. And there's a bunch of different types of for sale by owner websites. So I'm just going to work all of those and contact them directly. I'll contact them through the online portals that make through each individual website. And then I'll also go ahead and scrape those and send them text messages. I'm going to try that new service, launch control. They've set me up with a special program, and if you'd like to get the same deal, you can.

Just go to epiclaunchcontrol.com, epic launch control.com. It's just a way to do these texting broadcasts and be able to, they have like all of their little, what do you call it? Autor responders in there, so you can go ahead and just, carry on a conversation with just pointing and clicking and dragging and dropping,

and then you can put them in follow up sequences and so you can have a hot bucket, a warm bucket, a cold bucket, and you just kind of drag and drop them into each one. And it's pretty slick. So I'm going to give that a try. So if you want to try it too, that's over at epiclaunchcontrol.com. It's not that expensive. All right.

So that's the second thing I'm going to do. The third thing, I'm going to search all of those same sites because they all have search capabilities, and they typically have like keywords you can put in one of the field boxes where the keywords. And I got a giant list of all these distressed owner keywords, these motivated seller type keywords, like seller financing, like owner will carry or OWC or OBO or as is or dirty fixer or handyman special or cash only,

stuff like that. Okay, TLC is a really good one. Type in TLC and see how many things come up. You'll get all kinds of fixer opportunities that way. All right. So that's the next one. I'm going to do searching all those websites. Then next, I'm going to have my real estate agent as I've been sharing with you over the last

several months. So we've been actually having a decent amount of success, all things considered with the amount of the limited inventory that's available on the retail market. But I'm going to have him continue, and we'll probably pick this up a little bit, submitting creatively financed offers on my behalf. So I've just given him the authority to sign my contracts. So he just signs them over and sends them over to these listings that have been sitting on the market for more than 60 days. So my agent will be submitting offers for me. And I'm actually thinking, and I'm just thinking, and I'm just thinking about this was before I started recording was, you know, I've got three, I got four markets where I really, really like my property management.

Like I never even hear from them. So I was thinking of potentially finding an agent in those markets to do the same thing. Just thinking. I'll keep you updated, but that's what I'm thinking about. Right. So I'm going to do that. And then I'm going to hire a VA to cold call and set up appointments for me. and I think I'm going to use Robert Nichols service over at Rocket Station.

That's what's called. You can set up an appointment at VAs for Real Estate.com. VAs for Real Estate.com. All right. So I'm going to have a VA doing that. And between that, that's one, two, three, four, five different things that I'll be doing. And I'll have some of that delegated, some of that stuff I'll be doing myself. And I'm pretty sure I can average six offers per day with that plan.

If not, I'll just make some adjustments in 30 days or so and I'll catch up. But I think I can do that. And what constitutes as an offer, someone asked me this or on the YouTube comments. Go check out the YouTube video. I got pictures and everything and got a big pile of money sitting in front of me. So working the law of attraction with this giant stack of $1 million in front of me. but what constitutes an offer? Well, I'm going to take as many appointments as I can, obviously.

I want to submit as many offers as I can face-to-face. That's the best shot you have at getting them accepted. The second thing would be to submit the offers over the phone, setting phone appointments. And Don Costa, who was on, if you go back and listen to that episode, he would drop some golden nuggets on how to do this virtually and how to sell stuff over the phone.

And he kind of gave me just the one little missing piece that it's so obvious. and all the best stuff and the best tricks and hacks and stuff that work is so simple and obvious. But I started doing this and it's actually working really well. If you can't meet the person face-to-face, and this could be in your own backyard or a virtual market and five states over if you want. But when it's time to sign on the contract, and this is why I kind of stopped working my own business virtually because this is where it always break down. You'd get an agreement from the seller and then you'd send over the contract and then they would go dark on you and you never hear from them again. or they changed their mind or whatever, whatever would happen.

But, you know, so that reduced all of your yeses to about 50% of actual contract executions. So Don, as he shared with me on that episode, and I really like this. And it's working is to set up your docusign account or any one of those electronic signature type services and get your contract in there.

And then once you had that, initial call with the seller, we're saying, great. So let me go ahead and check out the market condition, see how things are doing and how they pertain to your property. And I'll just kind of calculate based on all the stuff that you shared with me. I'll carve out a little small profit for myself and I'll put an offer together. And so when can I call you back? When will you be in front of a computer so I can call you back and we can go through the contract? And setting an appointment it that way, making sure that you have a time that you're going to call and they'll be in front of their computer so they can open up your email and sign the contract right there. And so they can

ask questions that they need to right there. So you can close the deal. You can answer the objections, whatever it may be. So you can actually get it done. And it's such a simple way to do it and so obvious, but it's just, it's very effective. Not like I said, all the simple things are. So I'm going to trying to do them face to face. The secondary is over the phone. And then if I can't do that or I haven't hit six that way, I'm just going to start. I'll submit little contract links through email. I'll send them via text message. I might even drop them in the mail. But I got to get six offers out a day. I got to have six at bats a day. That's the plan. All right. What else? I'm going to, Oh, yeah, like so with my resources, right?

So how am I to do this? How are you going to buy 24 houses? Might be the next question. Well, my cash reserves, I don't hold a lot of cash. And I'm holding a little bit more than normal right now only because I was a little bit concerned about spending all my cash during pandemic times. So I don't have a lot, but I have a little bit more than usual. But what that's going to do is it's going to be.

It's impacted my credit score because I'm keeping a higher than normal balances on my credit cards just to preserve the cash that I have. So I'm playing this little game of juggling and stuff like that. Just, you know, because who knows what's around the corner? Like, was the world going to shut down? Was the world going to end? I imagine we're kind of on our way out of this thing now with the vaccine. I think we're still several months away. But I can start paying my credit card balances now.

and without too much fear. Yes, I get scared too. I was scared right there with everybody. I didn't know if the world was going to end or not. But my whole point being is I don't want to use my cash because you know I like to do my infinite return deals. So I've already kind of lined up a few private money people. Let them know what I'm doing.

I said, hey, when something comes up, can I come by and share it with you? And they're like, yeah, absolutely. That's how you build your private money list, by the way. Don't take your deal to them and say, I need some money. Plant that seed before you need the money. And so I've been sharing people with people my plan. I said, hey, I'm going to do these deals and they're going to be creatively financed and blah, blah, blah, but I'm going to need money for down payments. And I'll give you a great return.

And so would it make sense for me to contact you once the first one comes up or the one they come up? They said, oh, yeah, absolutely. So boom, I got a little list of all these people that are ready. And now it wasn't awkward or anything. They could have said no, and I wouldn't have been all frustrated because I had this contract in my hand that I couldn't close now. Right. So that's how you do it. but the whole point being is I probably won't have access to a whole lot of bank money because of my credit score.

It's just a little bit too low. But I'm going to see what I can do. I've got some free and clear properties, not a bunch, but I've got some of those that I might be able to borrow again. So I might be able to leverage those a little bit. That could give me a little bit to work with. And I've also got, I've never used, in Mercedes, we just did this. I've never used my FHA loan and I've never used my VA loan.

I was the Marines, right? Just because it just seemed like it was too much of a pain and I was in my credit score so terrible even though the VA is an Ottoman. That's like a no-brainer type loan. I'm not sure if I'm going to be able to use those. I'm going to try and use those creatively one way or the other or both if I can.

But that's about all I've got to work with. So I really am going to have to primarily rely on my personal network and my intellectual currency of finding good deals. I wish that, let's thank goodness, I'm pretty confident about my skills around doing that. Right. So that's the plan, 24 income properties in 11 months. And so I'll keep you up to date. I want to post on the YouTube channel every month or so with a progress report,

but I'll report to you here as well. But you can just type in EpicREI.tv. That'll take you to our YouTube channel and hit the subscribe button when you get there, the YouTube algorithm really likes it when you hit subscribe. And so does the podcast algorithm too, by the way. So if you haven't subscribed, please do that. And if you'd like to follow along, that's how you do it. All right.

So what did you notice about my plan? What are you thinking about? What questions do you have? Did I miss anything? Do I have any holes in it? What questions do you have about it? Go over to YouTube and share your thoughts or your questions over there and I can engage with you and interact with you over there.

Look for the one channel or excuse me, the one video, how I'm going to make an extra million dollars in 2021. I think that's the title of it. And the thumbnail. It just has a, it's me in front of a pile of money. I got a delicious vinyl t-shirt on and a million dollars behind me. So that should help you find it. But post your comments there and we'll go from there.

All righty. So that's that. That's the plan. That's how, that's the game I'm playing in 2021. And as long as we don't have another pandemic come through, nothing is going to stop me, not if I can help it. All righty. So if you found this episode valuable, who else do you know?

there's a good chance you know someone else who would too and when you think about it when their name comes to mind please share this with them and ask them to click the subscribe button when they get here i'll take great care of them all right so that's it for today god loves you and so do i health peace blessings and success to you i am matt terrio living in the dream yeah yeah we got the cash flow yeah yeah we got the cash flow 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-sweetradio.com.