Epic Real Estate Investing - How to Quit Your Day Job... Like a Badass | 306

Episode Date: October 13, 2017

Welcome back to another Financial Freedom Friday bringing you three steps to quitting your day job like a badass. Whatever your motivation or your long-term goals, achieving financial independence as a real estate entrepreneur requires an escape route plan. Get yours today with Epic Real Estate Investing! ______   The free course is new and improved! To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? • E.ducation • P.roperties • I.ncome • C.oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey there, Rockstar, Matt Terrio here at Epic Real Estate. And now, I heard that you want to quit your day job, but you're not quite sure on how to do it. Well, I'm going to share with you how to do it like the badass that you are. It's time for Financial Freedom Friday with Matt Terrio. So, do you have these aspirations of being a real estate investing entrepreneur? But you got this thing called a job that's in the way. I mean, do you want to make some? money on the side or do you really want to quit your day job? If so, why? How come? I mean,

this is a really important question because everyone has their own reasons. You know, maybe your work it's unfulfilling or your your coworkers aren't so fun to spend 40-plus hours a week with or your boss flat-out sucks or you're feeling overworked or you're underpaid and you're underappreciated. You know, work doesn't have to be a drag. I mean And imagine a job where you're inspired to get up every day. You enjoy the people that you work with. You're paid what you're worth. And there are no income limits.

Imagine that. Well, you likely already have imagined that. It's why you're looking into real estate, right? And if you are, if that's the case, if that's your situation, good choice. You know, real estate, it's the final frontier where the average person has a legitimate shot at creating epic wealth. And it's the fastest path to financial independence. I mean, it can grant you the freedom to do what you want, when you want, without regard to the price tag.

That's all available for you. Now, there are just three steps to get from your dreary job to this new life of epic potential. All right. So step number one, I want you to complete a before you quit to do list. All right. So the first item on this list is to conduct a self interview. You're going to say, self. You're going to ask yourself these questions right here.

And I want you to be honest with yourself. If you're not honest with yourself, you're cheating nobody but yourself, all right? So be honest. So what specifically about my current situation is frustrating to me? What specifically don't you like? Second is, am I willing and able to forego benefits like health insurance and retirement contributions because that disappears for a while? And then also, have I timed this appropriately?

Is this really the right time to do this? Remember, right now you are an employee. You're not an entrepreneur, at least not full time. You must be prepared to temporarily work for free. That's kind of the deal. Aim for higher goals and embrace your mistakes to be successful, okay? Second on the to do-lis is to maximize your money and your credit. And you can do this in a few ways.

First, consider there may be some ramifications to your 401K or any other incoming funds that you're expecting. You know, like your quarterly bonus or your year-ending bonus. Think about that. Second, check your ability to access. institutional money. Make an appointment with your local bank to see what you qualify for. Because this can be really tough to do as an entrepreneur until you're really established. So take advantage of that while you still have a job. Third, with all that said, use as many purchase loans as the bank will approve you for before you quit.

It's also a good idea to maximize your credit lines. You know, applying for credit at epicfastfunding.com. That's a great way to do this all in one big swoop. And then the third thing on the to do list is to gain support from your spouse and your family. Have an honest conversation with them. Let them know what's going down. Because quitting, that's going to affect them too. And then the fourth, I want you to commit to saving 12 months of reserves in the bank to support your family and your business.

And starting your real estate endeavors on the side, it can significantly accelerate the building of your reserves. So I know 12 months sounds like a long time, but if you do them both simultaneously, you can actually speed that process up quite a bit. So step number two, quitting your day job is to, plan your, step two is to plan your escape route. Add up your monthly living expenses.

Because once you have that number, now you can move on to your imminent business expenses because those are coming. Because now you've got a business. You got expenses with that. So here's what I mean. Your success as a real estate entrepreneur is going to be in direct proportion to your consistent generation of quality leads. And the quality of those leads lies within the quantity.

So you've got to generate a lot. And to produce a consistent paycheck, you need those consistent leads. you need a lot of them. So your biggest business expenses probably gonna be your automated lead generation for enough leads to cover your monthly expenses. See how that works? And automated so that you're generating leads

while you're still at your day job because you can do these two things simultaneously, but you can't spend all your time generating leads so you have to have that done automatically. All right? Now, add your business and monthly expenses together. You must generate this amount of money for four months straight

or save up 12 months of reserves before quitting your job. That's the rule, all right? four months straight of that income or 12 months reserves. Now number three, never go back. You can't go back. You know, as your leads are coming in, here's what you need to do on a daily basis and you'll never have to go back. And you can do this in just a couple hours a day to get started. So, I mean, take your lunch break, for example, and then say eliminate one TV show per day. There's your two hours. You've got the time. Now, if you really want this, that's all it's

going to take to get you started. So during these two hours, you're going to want to focus on three things. Okay. First thing you want to focus on is contacting your leads. Super important. Second, you want to focus on setting appointments with those leads. And then three, you want to submit offers. Okay, contact your leads, set appointments, submit offers. I also recommend reading the book, The Slight Edge. It's by Jeff Olson, an invaluable read for this moment in your life. Okay. Now, in summary, I talked about a lot right now. So let's just kind of break it down, sum it up into five action steps that you can take right now. Number one, go Calculable, your monthly living expenses and then set your real estate income goal your living expenses your business expenses and set your income goal that way two plan out your marketing budget okay plan that out

three have to sit down with the family get everybody on the same page then four get pre-approved for investment property purchase loans and then schedule a funding call at epicfastfunding.com you get all that done on that one nice big swoop okay and number five consider becoming an epic pro academy member if you're not already and go through the fast start section go through that fast start section ASAP so you can get started right now right away as you plan your escape right right you know here's a thought i'm getting together soon with a with a small group of investors to help them personally to kickstart their escape we're going to be working side by side i don't know would you like to join us if so go to epicintensive.com grab a ticket and bring a friend for free

Go to epicintensive.com, grab a ticket, and you can bring a friend for free. We keep our events, we keep them small and intimate. So there is always a max capacity for each of these events, of which when we reach it, we got to close down registration, and we're getting close to that right now. So sign up right now, and I'm looking forward to meeting you in person. Take care. This podcast is a part of the C-Suite Radio Network. For more top business podcasts, visit c-sweetradio.com.