Epic Real Estate Investing - How to Quit Your Day Job | EREI 183

Episode Date: November 30, 2015

In case your New Year’s Resolution is to quit your day job, Matt is explaining exactly what you need to do.  He explores what you consider before you quit, how to create your escape plan, and how t...o avoid going back.  Enjoy! ------- 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

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Starting point is 00:00:00 Oh, ho-ho-ho. It's that time of year at Terrio Media, where we spin the wheel of reviews and give away a $100 Amazon gift card on every episode in the month of December. And here's how you play. To win a $100 gift card from us here at Terrio Media, all you have to do is leave a review of any or all of the podcasts hosted under Terrio Media. This show, Epic Real Estate Investing or Turnkey Real Estate Investing, or hold that house or do-over or even body do-over.
Starting point is 00:00:33 Leave a review on any or all of those podcasts, and on every show in the month of December, I will randomly select a winner of a $100 Amazon gift card. Now, if you've already left reviews for these shows, hey, there's nothing for you to do. You're already entered. And with currently five podcasts under the Terrio Media umbrella, every listener has five chances to win.
Starting point is 00:00:53 So the first winner will be selected on December 1st, which is a Tuesday, tomorrow, in fact. on the Turnkey Real Estate Investing podcast. So that's where it will happen first, and it will continue throughout the month of December. This is Terrio Media. Podcasting from Terrio Studios in Glendale, California, it's time for Epic Real Estate Investing with Matt Terrio.
Starting point is 00:01:27 Uh, yeah, hello, and welcome. Welcome to Epic Real Estate Investing, the place where I show people. how to escape the rat race using real estate. You just got to shift your focus from making piles of money to making streams of money. Just change that one thing, just one time, and you are on your way to financial freedom. It is not the most exciting path, though, I warn you, but it is the fastest, and that there is a promise. And once you get there, life then becomes exciting.
Starting point is 00:01:56 All right, so speaking of excitement, happy holidays to you all. Hope you had a great Thanksgiving, and hopefully December will treat you just as well. this Wednesday, December 2nd, will be the next free online coaching session. Essential real estate investing formulas of where you're going to learn more than 10 essential real estate investing formulas that every investor needs to know. You're going to learn the big pitfalls you will avoid by using these in your business. And you're going to learn how to easily execute them to maximize your profits month after month after month and how to use them to virtually eliminate your risk.
Starting point is 00:02:33 Plus, you'll be able to dazzle all of your friends with your real estate investing brilliance. And I'll do a live Q&A at the end as well. So to register, go to epiconlinecoaching.com, epiconlinecoaching.com. And if you tried to go there last week, I realized I jumped the gun a bit as I didn't have that page updated, but it is now. So register for free and attend for free at epiconlinecoaching.com. Everyone is invited.
Starting point is 00:03:01 The recordings, however, will be available. inside of the academy only. If you missed the last coaching session, how to quit your day job, you missed a really good one. And since I happen to be very much in the giving mood right now, and I've been slow in getting this replay posted
Starting point is 00:03:15 inside of the academy. And actually, I'm not sure it's salvageable, unfortunately. As my version of the recording, wasn't so hot, and I'll probably have to do that over again. So I'm hoping my content manager's version is much better. We'll see.
Starting point is 00:03:31 But anyway, in case you're, new year's resolution is to quit your day job, I'm going to cover today some of the key points you'll need to consider as you follow through with your New Year's resolution. Now, here's the problem. See, the problem is you have to go to work right now. And that can be and often is very frustrating for people, especially people who have big dreams and ambitions and aspirations. I know you're all fellow entrepreneurs and you've got a bigger idea for your life than just going to work every day on this place that you have to go. It's frustrating because, you know, the work, it's unfulfilling maybe.
Starting point is 00:04:05 It's frustrating because you may, I don't know, maybe you hate your boss or you're not too fond of your coworkers and, you know, maybe hate is a little too strong of a word, but at the least there are probably other people that you'd rather spend 40 hours a week with. And, you know, maybe you feel overworked and underpaid and maybe even underappreciated. And what this comes down to is you're stuck, right? You're stuck because you're afraid to make that leap and go out there on your own, to go it alone. So here's what I want to create for you today. I want to create for you a life where you will want to go to work, a means of earning a living to where you are inspired to get up every
Starting point is 00:04:44 day, a place where you enjoy the people you work with and where you're paid exactly what you're worth, a place where there are no income limits. Now, real estate, it's really is. It's the final frontier where the average person has a legitimate shot at creating epic wealth. a means to creating the freedom to do what you want, when you want, with whom you want, without regard to the price tag. So think about this. What part of this do you need most right now? What part do you need the most?
Starting point is 00:05:17 You know, this year, I was able to work with 41, one-on-one clients, of which six were actually able to leave their nine to five this year. They left it within the 12-month period. and seven others now have the option to leave anytime that they want. They could leave right now if they wanted to, but they're choosing to stay. And five more are just merely weeks away from reaching their goal of telling their boss where to stick it. For example, I received a text message a couple of months ago from one of my coaching clients, Corey, and I'm going to read to you what his text wrote.
Starting point is 00:05:53 He gave me permission to do so. I walked into my job today wearing flip-flops and camo shorts to fax, a sign. contract that will net me $18,000 next week. Thanks for helping me make that F-U money. And you know what F-U money means, right? So, Corey did it. Corey did it this year. Now, he hasn't quit his job yet,
Starting point is 00:06:14 but he told me that he has the option to. You know, should the day get a little stressful to where he can just, he just can't take it anymore, he has the option to simply just walk out the door. That's freedom. Imagine what that would feel like, every day that you walked into your job, you realistically had the option. You knew you didn't have to be there.
Starting point is 00:06:38 And that you were at your job for only one reason. That only reason because you wanted to be there. What would that feel like? You know, and Corey, he's a really good guy. He doesn't actually hate his boss. And in fact, Corey is now coaching his boss on how to achieve his independence as well. apparently Corey's boss just he wants to quit his day job too and and on that note here's what we'll cover today we're going to cover these three points point one before you quit because there are some
Starting point is 00:07:09 things you absolutely want to do before you quit and we're going to go over those point two planning your escape you need a plan all right and and each one of your plans are going to be different so you need a custom plan and I'm going to help you create your own custom plan today and point three never having to go back I mean, it's fairly common knowledge that most entrepreneurs and most new businesses, they fail. And I want to cover what there is to do so that you aren't one of those statistics. Got it? So we're going to make a stick. So let's just kind of get into how all this works and how it's going to work for you, most importantly.
Starting point is 00:07:43 Point number one, before you quit. So before you quit, there are some questions you're going to want to ask yourself. Number one, what specifically about my current situation is frustrating me? what specifically about my current frustration or my situation is frustrating me you know pinpointing the issue that's really the first step towards solving it you know is the problem of the people is it the environment or is it the work itself is it solvable or is going out on your own the only solution that you can see are you at all responsible for your frustrations I want you to look at that as well because I don't want you to take what's bothering you at work
Starting point is 00:08:23 out into your new venture. So be honest with yourself. Are you at all responsible for your own frustrations? And if so, just acknowledge it and keep in mind not to recreate those frustrations in the next step for you. Okay? Number two, am I willing and able to forego benefits like health insurance and retirement contributions?
Starting point is 00:08:43 Am I willing and able to forego benefits like health insurance and retirement contributions? So what I want you to do is I want you, before you quit, I want you to research the cost of purchasing health insurance, especially if there are others in your family that depend on you for that. And at the very least, make those last doctor and dentist appointments before you quit, all right? At the very least. Number three, have I timed this appropriately? Have I timed this appropriately?
Starting point is 00:09:10 And consider the timing of your decision to quit. I mean, firstly, are you in the midst of the busiest season? I mean, it's the holidays. Is this the busiest season? Or are you working on a big project right now? you may want to honor your commitment so that your team isn't left in the bind and and you're able to leave on good terms. So consider that.
Starting point is 00:09:30 Secondly, I want you to maximize the money with regard to your timing. Maximize the money. I mean, if you're, if you'd like, if you'd like to get your quarterly bonus or the holiday vacation, it might be smart, you know, to wait a few months, to maybe to put this off to maximize that. And so if you've come up with satisfactory answers to those questions, you know, and you still want to quit your day job, here's what you can expect once you do. And this is real.
Starting point is 00:09:58 There's no pie in the sky here. I'll never sugarcoat this thing. I mean, it would be a disservice to you if I did. So I want you to understand that you have been trained your entire life to be an employee, an employee who looks for jobs rather than being an entrepreneur who creates jobs and who creates businesses. I mean, you likely have the skills to be a really good employee. you're probably a very good employee,
Starting point is 00:10:21 but understand that they are not the same skills required to be a good entrepreneur. You know, even with the appropriate entrepreneur skills, many fail to build a business. Instead, they work hard building a job that they own. They become self-employed rather than business owners, which is okay for a while. I mean, as long as you have your eye on creating a business, you know, most entrepreneurs, they work longer hours,
Starting point is 00:10:49 and they are paid less per hour than their employees. Hence, you know, many quit out of exhaustion. You know, most people when first venturing into the world of entrepreneurship do not understand the concept of working for free. We got to do a lot of work for free. A lot of work without expecting anything in return. Trusting that we're planning the seeds for the future. You know, most people, they expect to get paid for every single little thing that they do.
Starting point is 00:11:23 And this expectation is a substantial reason as to why the failure rate is so high. They continue to think like employees. They want that steady paycheck. So be prepared to fail. Just be prepared for it. Yet don't look at your failures as failures. Don't look at it as a failure and a reason to quit. But look at it more as your failure is more as lessons.
Starting point is 00:11:53 Look at your failure as opportunities to practice your performance and perfect your technique. Look at your failure as opportunities to practice your performance and perfect your technique. Embrace your failures. Understand that you're in the middle of a learning process. The process requires that you make many mistakes and learn from those mistakes.
Starting point is 00:12:16 And the faster you make those mistakes, the faster you get through the process and out onto the other side. Or you can quit before you get there. Then the process, it just kind of spits you out like all the rest. Now I have more on what to expect to, more on for what you can expect
Starting point is 00:12:33 to share with you in just a minute. But before you actually walk out those doors for the last time, there's some things you're going to want to do, right? There's some things you're going to want to do. Number one, I want you to maximize your money and your credit. Here's what I mean by that.
Starting point is 00:12:48 If you have a forward, 401k or other money coming to you as you part ways, understand how that payout or that transition needs to work. Before you know, you go and goof anything vital up. So research that and understand how that has to happen. You know, as we've mentioned on the show, so many times and in so many different ways, your ability to build your business and your overall wealth will be in direct proportion to your ability to access other people's money.
Starting point is 00:13:17 You know, inside the Epic Pearl Academy, I demonstrate, more than 10 ways to access other people's money for your real estate investing, but the one thing I can't help you with after you have left your job is your ability to access institutional money, like banks, credit unions, savings and loans, credit cards, lines of credit, all that stuff. You know, once you're officially out on your own as a real estate entrepreneur, it's going to be some considerable time before banks will consider you for loans and lines of of credit. So before you quit, you're going to want to make an appointment with your local banker,
Starting point is 00:13:54 maybe a few different bankers, and just to see what you qualify for. And when it comes to purchase loans, you're going to want to see what you qualify for and actually use what you qualify for before you quit. You're going to want to use as many of those as the banks will approve you for. And you want to have to do that before you quit. That means you have to close on those transactions. before you quit or else they're not going to close if you don't have the job to back it up. Lending guidelines are much more strict than they've probably ever been, or at least for a very long time.
Starting point is 00:14:30 And they're going to do a final check just before you close to see if you still have your job. All right? So it also might make some sense to maximize your credit lines. You know, for example, call all of your credit card companies and ask for credit limit increases or apply for even new cards. You know, one of the ways that people have been doing that, whether they're quitting a job or not, the way they've been accessing large amounts of credit, and it's really rather one of the easier ways to access credit in one,
Starting point is 00:14:55 just one swoop is to apply at epicfastfunding.com. Epic fastfunding.com and do that while you are still working. When you don't actually need it. You know, it's easier to get credit. It's easier to get a loan. It's easier to get that other people's money when you don't actually need it. So you want to do that before you quit while you're still working. You know, and over at epicfastfunding.com, the credit lines there, up to $150,000.
Starting point is 00:15:25 They're based off of your credit score and your job income. That's why you want to do it before you quit. It's only 60 seconds to apply online, and then they do the rest, all right? So, and most of the credit that you get approved for will be the first 12 to 18 months will be at zero percent interest. And they charge a flat fee, I think, of right around $500. I think it's $4.95 for your application, which, is 100% guaranteed if you don't get approved for at least $50,000. And then there's an additional fee of $3,000 upon your approval of that $50,000.
Starting point is 00:15:59 And as an option, you can pay an additional $3,000 of where they'll go to work establishing corporate credit so that you will eventually be able to access purchase loans from banks. And also through that additional service, they'll help you manage your credit lines for optimum use as well as helping you extend your 0% interest beyond that introductory period. So up front, yeah, you got this $495 fee there, $3,000 here, $3,000 there. That may sound expensive up front with their fees. But when considering the average limit that people get approved for, and it also being 0% interest for the first 12 to 18 months,
Starting point is 00:16:36 it actually breaks down to right around 3% money. Because that 0% interest can get extended for an additional 12 to 18 months after that. And so that breaks down to about eight and about three percent money, which is the cheapest money that I know of. You can't even go to and get a home loan now for three percent. So if you haven't applied at Epic Fast Funding, I highly recommend that you do while the current credit environment allows you to do so and while you're still at your job.
Starting point is 00:17:06 All right. Oh, and those fees, you can take those out of your credit line. So it's not like you have to have that money saved up and you've got to pay them for that. That can all happen outside of the credit lines that you're approved for. So apply at Epicfastfunding.com. before you quit your job. All right, number two, the thing that you're going to want to do before you quit,
Starting point is 00:17:23 another thing is you want to get support from the spouse and your family. You know, quitting your job, it's going to affect others in your life. So it's critical that you have an honest conversation with your family first. Your spouse or your children, they may need to help or at least participate in some of your cost-cutting plans as you make this transition, and they may need to be involved in your new venture from the very beginning. So let them know what to expect, all right?
Starting point is 00:17:50 You know, a common denominator of past coaching clients of mine that have failed to meet their own expectations, as well as prospective clients for our turnkey investment operation at cash flow savvy, is their inability to get on the same page financially with their spouse. We see it over and over and over again. And so many times we can just kind of try. trace their lack of success right there to directly or indirectly due to their, their spouse's support. You know, and after at least 100 of these types of conversations that I've had, what I consistently find is, and this is the typical scenario, not everybody, but we find this this more often than not, that taking on a full-time career in real estate investing,
Starting point is 00:18:40 it's not the first attempt that the husband or the wife, and it is typically the husband, but not always, but it's not the first attempt they've made at freeing themselves from their job. They've tried other things to no avail. You know, and in fact, the decision has almost certainly been preceded by many other failed attempts at this financial freedom thing. And what happens is the spouse views this latest idea of real estate investing as just another one of quote unquote those things. So it's tough to get support.
Starting point is 00:19:14 if you or your spouse have a track record of not following through. So if this happens to be your situation, here's what there is to do. First, explain to your significant other how important this is to you. And if you feel a lack of support even through that explanation, that's okay. Don't blame them. Understand their perspective. It's okay if they're still a little hesitant on giving a full thumbs up of approval to you, okay? understand the history that you have with them and your financial freedom ideas.
Starting point is 00:19:49 Assure them that you're not going to do anything rash. You're not going to put theirs or their family's livelihood in any sort of jeopardy. And you're going to let them know that you've thought this out very carefully and that you have a plan. And then ask for permission to prove yourself. Once you're there, it's up to you. It's up to you now. You've got to commit to your success. You have to honor your word to your family.
Starting point is 00:20:16 You've got to commit. You've got to commit to doing whatever is necessary to succeed. You know, here on the podcast and inside the Epic Pro Academy, I show you what to do. You just have to commit to doing it. If you want a different result this time, you'll have to do something different. You'll have to commit and you'll have to follow through. Specifically, you must commit to your real estate success in the exact same. same way you commit to breathing, meaning not breathing isn't an option, right? If you stop breathing,
Starting point is 00:20:53 if your commitment to breathing waned or you've ceased to commit to breathing, you're going to die. It's not an option to not breathe. And neither is failure in real estate at this point for you. Keep your breathing and keep your real estate all in the same commitment category and you're going to do just fine. Got it? Number three, before you quit, and I'm going to recommend that you save up at least 12 months of reserves. And you can share this with your spouse,
Starting point is 00:21:25 that this is how I'm not going to put our family in jeopardy. I'm going to save up to at least 12 months of reserves, to not only support you and your family, but also to support your business, 12 months of reserves. There is one caveat that I'll get to later, because if you're thinking, oh, my gosh, I've got to do this for 12 months. I'm never going to get there.
Starting point is 00:21:41 Don't worry, there's a caveat, and I'm going to get to that later, but think 12 months. I want you to think 12 months. And that brings us to the next point, planning your escape, right? So if you're going to save 12 months, how much do you need to save? I mean, how much is that for you? It's going to be different for everybody. So how much do you need per month in order to quit to replace your current income?
Starting point is 00:22:02 So before you quit, what you're going to do is you're going to want to tally up all of your monthly living expenses and plus a little bit extra for miscellaneous expenses. I want you to include your house. house payment, your rent, your car, your fuel, your food, your utilities, your dry cleaning, your school expenses for the kids, anything that you do recreationally, everything that you can think of. I mean, pull out last month's bank statement to extract every possible expense. And once you have everything, you're going to come up with a monthly number, right?
Starting point is 00:22:32 So that's going to be your number. That's how this plan is custom for you. That's your number. That's your living expenses. Now what we need to do is calculate your business expenses. Okay, we need to go and look at the actual business expenses so we can add that to our personal expenses, of which with, you know, today's advancements in technology, the business expenses, they can be pretty darn cheap. So it's not going to be too much more than what your personal expenses are. And there is one exception, though, with one exception.
Starting point is 00:23:01 I'm not going to, that one exception being automated lead generation. And what I mean by that is, you know, when making the jump from employee to real estate entrepreneur, the one thing you're going to notice first is the absence of that consistent paycheck, right? That's the first thing. It's probably what's kept you in your job for so long as you know that that consistent paycheck is going to disappear. It's the fear of losing this consistent paycheck that keeps most people shackled to this unfulfilling job for their entire lives. So I want to congratulate you first for having the courage to even consider going out on your own.
Starting point is 00:23:37 You know, just by the mere consideration of going all in by pushing in all your chips and becoming an entrepreneur of any sort puts you in the top 1% of society. It's a very courageous act to become an entrepreneur. However, I'm going to show you why your success depends less on courage and just more on consistent, simple actions, the right actions. And of those right actions, every business needs one thing. They need one thing. they need customers.
Starting point is 00:24:13 And before customers become customers, they are prospective customers. Or what we call in real estate, we call those leads. We call those leads for short. Your success as a real estate entrepreneur will be in direct proportion to the consistent generation of quality leads. And the quality of your leads lies within the quantity of those leads. So to produce a consistent paycheck, you need consistent leads.
Starting point is 00:24:42 So really the quality lies within the consistent quantity of those leads. To produce a consistent paycheck, when you make this transition from employee to entrepreneur, the one thing you're leaving behind is that consistent paycheck, but you don't have to. You won't leave that consistent paycheck behind if you bring with you into your transition consistent leads. So to produce an automated paycheck, you need automated leads. and the easiest way to do this in this business is through direct mail. Now, there are many ways to generate leads. I'm not saying you only choose direct mail.
Starting point is 00:25:19 You know, there's many ways to do it. I go through them all inside of the Epic Pro Academy. But at the very least, you want the minimum number of leads that will cover your monthly expenses, both your personal and business expenses, to be generated automatically. And this is why you want them to be generated automatically. Because there are going to be days where life events come up.
Starting point is 00:25:44 There's going to be weddings. There's going to be births. There's going to be deaths. There's going to be illness. Or just plain old, I don't feel like it today type stuff. Face it, you're human. Yes, you are. And life happens to all of us.
Starting point is 00:26:01 And when it does, you want to make sure that your lead generation does not suffer. If your lead generation suffers, then your paychecks suffer. And then life starts happening all over the place. The unpleasantries of life start happening all over the place. And if it gets bad enough, you're going to be right back at your job in no time. So let's make sure that that doesn't happen to you. So you need to automate your leads. Now, inside the academy, I show you how to use the marketing plan and budget builder.
Starting point is 00:26:38 But here on the podcast, that's a little difficult to do. There's some visuals involved that I can't, that just the spoken word can't duplicate. But if you want a copy of the marketing plan and budget builder, just stick around until the end and I'll tell you how to get it for free. No opt-in or anything required like that, just to link that point straight to the marketing and plan and budget builder. And boom, you'll have it right there.
Starting point is 00:27:01 Okay, so I'll get to that in at the end. Now, when you figure out your monthly marketing budget, I want you just to add it to your living expenses, of which would leave you with dollars needed per month that you will need to generate consistently before quitting your job. All right. So now you'll have your actual number. So here's the rule. You cannot quit your job until either one, you've hit your monthly income goal for four
Starting point is 00:27:32 consecutive months, or two, your reserve amount of 12 months of your living expenses is in an account somewhere. That's the rule. You have to do one or the other. You need to hit your monthly income goal for at least four consecutive months, or you have to have saved 12 months of reserves of your living in business expenses, whichever comes first. That's the caveat that I mentioned earlier. Now, for the last point, how to assure that you never have to work for anyone else ever again, how you can make this stick so you're not one of those statistics that fail and go right back
Starting point is 00:28:06 to their job with their tail between their legs? I'll get to that in 30 seconds, right after this. There are two steps to wealth. First, stop doing what poor people do. Second, start doing what wealthy people do. The wealthiest people work their strengths and hire their weaknesses. If only you have the time and resources to do it,
Starting point is 00:28:24 now you do. We're VAs for real estate.com, and we have some free information for you. Get the five-step shortcut to hiring a rock star virtual assistant that will make you millions. Go to VAs for Real Estate.com. Stop doing what poor people do and do what wealthy people do. VAs for real estate.com. Point number three, here's how to make sure that you never have to go back to your job.
Starting point is 00:28:50 It all lies within your daily activities. You know, just as you go to your job right now and you report to work every day and you have a routine, right? You have responsibilities at your job that have to be done day in and day out. Well, the same is true when you start working for yourself. It's just that you are now your job. You do those activities without thought at your current job because you know someone's going to hold you accountable. Well, now when you go ahead and you go out on your own, it's up to you to hold yourself
Starting point is 00:29:18 accountable. So nothing changes. You're still going to have daily activities and responsibilities, a routine, so to speak, that have to be carried out day in and day out. And so along with, consider. assistant lead generation, which we already covered, there are some other activities that you're going to need to make, make sure that you do each and every day. And whether you do them or you have someone else do them for you, perhaps at some point hiring VAs for real estate.com or going there and getting a VA to work for you, that may be an option. But whether you do them or someone else does them, they must happen each and every day.
Starting point is 00:29:54 All right. So I'm going to give you the five most important activities that have to be done each and every day. Number one, consistent lead generation, which we covered. So you really only have four more to be concerned with. Because once you get those schedule and they're automated, you just have to be concerned with these four now. Number two is you have to contact those leads. You have to contact the leads.
Starting point is 00:30:15 Three, you have to set appointments with those leads. Four, you have to submit offers on those appointments. Number five, you have to market the properties. Of those offers that get accepted, you have to market those properties. And if you can do these activities each and every day, there is no chance of failure. And the more you do of each, the more successful you'll be.
Starting point is 00:30:39 Lots of activities, lots of success. Mediocre activities, mediocre success. Poor activities, no success. All right? So the more you do of each, the more successful you'll be. And you'll keep track of these activities on the daily success report. Inside the academy, I show you how to use this. report step by step and it's the very report that I run my current business with.
Starting point is 00:31:03 I still use it today and I use it with my team and I've divided up all of the tasks on this report and delegated them to certain members of my team and I hold them accountable each and every week. I have the stuff that I do, they have the stuff that they do and each and every Monday we begin our week by checking our numbers. Now until you get to that point to where you can start delegating these tasks, it will be up to you to see to it that they get done daily. Now you can download a copy of that report of all of the tasks that need to be done. You can download a copy of that report at daily success report.com.
Starting point is 00:31:45 Daily success report.com. Okay. And then a bonus for you. Bonus homework. This is for my super achievers only, okay? Just my super achievers. I want you to read this. book, The Slight Edge by Jeff Olson.
Starting point is 00:32:01 Read that book and it will become very clear as to why this daily success report is probably the most important part of your business. So the Slight Edge by Jeff Olson. Now, here's what there is to do. I've got five action steps for you before I leave. You're going to want to write these down. Five action steps. Action number one.
Starting point is 00:32:23 I want you to calculate your monthly living expenses and set your real estate. income goal, your monthly real estate income goal. Okay, so you're going to take your living expenses, add all of that up for each month, and you're going to look at your business expenses, and you're going to do that. And that would lead us to actually to action step number two. We want you to plan out your marketing budget. And to get a copy of that calculator, go to marketing plan and budget builder.com. Pretty clever name, huh?
Starting point is 00:32:52 Marketing plan and budget builder. I'll make sure all of these links are in the show notes. Marketing plan and budget builder.com. Just go in there, type in that domain name and boom, I think it downloads automatically. Action step number three. I want you to have a sit down with the family. I want you to have a conversation with everyone that's important to you that depends on you for some sort of their livelihood or their comfort or their well-being.
Starting point is 00:33:18 And explain to them what you're about to embark on, what you're going to do. Right? And you're going to give them your word, and then you're going to commit to your word. All right, and you're going to make this a success by any means necessary. So that's action number three. Have a sit down with the family. Action step number four. I want you to get pre-approved for investment property purchase loans.
Starting point is 00:33:40 Go and have a conversation with your banker or multiple bankers, shop around, and get pre-approved for investment property purchase loans. And I want you to fill out the 60-second application over at epicfastfunding.com. I want you to get access. You don't have to use it all right now. I just want you to get access to it because it's easiest to get access to it when you don't need it.
Starting point is 00:34:05 So I want you to meet with your banker. I want you to go to epicfastfunding.com and do all of that before you quit your job just to see where you stand. Okay? It's going to help you with your plan as you make that transition. Action step number five.
Starting point is 00:34:19 If you're not an Epic Pro Academy member, I'd recommend that you become one and go through that fast start section ASAP. Because if you master that fast start section, you'll essentially know every single thing that you need to know from a real estate standpoint of what you need to go ahead and make that transition from your day job
Starting point is 00:34:40 to your new career, your new life. Now, I've mentioned this in the last couple episodes that the academy is undergoing an entire overhaul. And version 3.0, that's going to be released at the top of the new year. And with the launch of 3.0, we'll be saying goodbye to lifetime pricing. So if you want to get grandfathered in, if you're already a member, you're good to go, okay, nothing's going to change.
Starting point is 00:35:08 But if you're not a member, you've been thinking about it and you want to get grandfathered in, just like everyone that is already a member, it might make sense for you to grab your lifetime membership right now. Right? And you can do that at epicproacademy.com. lots of domain names. We'll have all of that in the show notes if you missed anything. This is, let's see, this is episode number 183.
Starting point is 00:35:31 183. All right, so regarding quitting your day job, what part of this today did you find most valuable? Whether there's some things to consider that you didn't, weren't really at top of mind. You're thinking about something else or you thought it was going to be a little more simple. What did you learn?
Starting point is 00:35:46 What did you notice? Now you know what there is to do before you quit. And what there is to do after you quit, right? Listen, it's not going to be easy. You know, what part of life that's worth the damn is? It's not going to be easy. It won't be easy.
Starting point is 00:36:03 But it will be the easiest path to the freedom that you've been seeking, the freedom that you've been exploring, the freedom that you've been wondering, how is it ever going to happen if it's ever going to happen to you. This will be the easiest path to get there for you. Real estate, it is the final frontier where the average person has a legitimate shot at creating epic wealth. If opening up your financial statement each month
Starting point is 00:36:29 is about as exciting as watching paint dry, the Epic Wealth Fund may be the next investment opportunity for you. The Epic Wealth Fund invests in distressed real estate and shares the profits with its shareholders. If you're an accredited investor, who has already enjoyed success elsewhere in their business or investing life, and you're seeking a broader exposure to re-recented, estate in your portfolio on a passive basis, the Epic Wealth Fund's executive summary is available
Starting point is 00:36:59 for your review. Go to EpicWealthfund.com to review the fund's executive summary. Epicwealthfund.com. Real estate investments involve a high degree of risk. Residential income and returns may vary and are not guaranteed. Past performance is no indication of future performance. Nothing herein shall be construed as investment, tax, legal, or accounting advice. Don't forget.
Starting point is 00:37:17 Leave your reviews for the Terrio Media Podcasts, Epic, Real Estate Investing, turnkey real estate investing, hold that house, do over, and body do over. The first $100 winner of the month will be announced tomorrow, December 1st on turnkey real estate investing. That's it for today. I'm Matt Terrio, 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.
Starting point is 00:37:48 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 Terry O. Alvin Toffler, an American writer and futurist once said, the illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn. In 1971, the rules of money changed, but the way we were taught to invest did not. Go to the new road to wealth.com to learn the new rules of money they are not telling you about. The new road to wealth.com.
Starting point is 00:38:34 A faster road to wealth is now open. Don't get left behind. The new road to wealth.com. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com.

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