Epic Real Estate Investing - Parker Stiles - A Fast Rat Race Escape Model | 425

Episode Date: July 13, 2018

Matt Theriault shares a fast rat race escape model from one of his rockstar students, Parker Stiles, on today's Financial Freedom Friday! Learn how getting fired propelled Parker to massive success, how he invests in South Carolina and Georgia from Colorado, how he enabled his wife to leave her teaching job, and much, much more! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Hey Matt here and welcome to the epic real estate investing show. And today I want to share with you a fast rat race escape model. And we're going to do that right now on our other episode of Financial Freedom Friday. It's time for Financial Freedom Friday with Matt Terrio. So coming up pretty soon, I'm getting together with a medium-sized, group of investors at the next Epic Intensive. And that's where we create badass real estate investors.

And if you'd like to attend, if you'd like to join us, we'd love to have you. But only if you want to be a badass yourself, you can go to Epicintensive.com. You can get all the details there. And yeah, I really look forward to working with you. And, you know, we just get together over three days, work shoulder to shoulder, elbow to elbow, yeah, elbow to elbow, side by side. And we go over on how to attract leads and how to automate that process, how to take those leads and to convert them into contracts and how to take those contracts and exit them,

so we are always getting the highest and best profit for ourselves out of each and every deal. So go to epicintensive.com. You can get all the details there. And the last intensive that we just had, I was fortunate enough to have one of the badass real estate investors that we've created there in the audience. And he was gracious enough to come up on stage and share his story on how he was able to escape the rat race so quickly. and I thought that would be a good thing for me to share with you today.

Fortunately, we caught it on video, so I'm just going to play that for you today. All righty, enjoy. This is Parker from Atlanta, Atlanta area. I'd never even heard of Kennesaw until I met you. It's not too big. Tell people what your situation was, what was going on with you just before we started working together. Graduated college, I had, you know, the big dreams, and I needed to get a job. I knew I wanted to go in real estate, but I didn't know what direction.

So I ended up getting a job as a commercial real estate agent. And it was cool. You know, I got to kind of satisfy that real estate bug that I had. But at the same time, I was making my hours a little bit, but I was still working for somebody else. So I always had that eating away at me. I'm an impatient person. So I was like, I really want a six-figure income, but I knew it was going to take me like three years to create that six-figure income at the job that I currently had. So I was like, what am I going to do to make some short-term income? Six months in to my job, I actually got fired. And so like, this is game time, you know? There's no looking back. I was about four or so months in to listen to your podcast. I think I listened to one through 140 or 50 or whatever you were. That was my thing. I was just like, I'm going to listen to every single episode. So I mean, washing the dishes, watching my truck, in the shower. There's a lot of fluff out there, as I'm sure, you know. And Matt was just kind of like a no BS route to what I wanted to do. That was a lot to get started with. And like you always say, learn the first step. Do the first step. learn the second step, do the second step.

I had to make it happen. There was no plan B, so plan A had to work. My wife was a teacher, so she's over here freaking out saying, how am I going to support us making $30,000 a year? There was the fact of having to go to my parents and tell them I wasn't going to get a job again. What have you found to be the most impactful aspects of working with effort? Mainly just the support system, you know, being able to come to you whenever I can, and the Facebook page is awesome, just being able to ask different questions and whatnot.

there's just so many different avenues to real estate investing and there's so many little pitfalls that you can have and just random questions that come up and as long as you ask them, you're moving in the right direction. So what does your business look like today? Well, I'm happy to say that we've kind of reached that freedom number that we talked about. And that's as simple as, you know, I did that same exercise with you. You know, it's just writing it down, putting in front of you and taking those steps. necessary to make it happen. So met that number, got my wife out of work, and the goal of that was really just so I could have her come into my business. And if I wanted to go do something, she wasn't going to be, you know, held down to not go with me. Like, we moved to Colorado in

September, and the plan was to stay for a season. You posted on Facebook, we showed it at yesterday, the beginning of the day. Yeah. The thing was six months, we're out of here. Then we just had to stay one more year. Eight months wasn't long enough to cross. also the things off the list that we wanted to do. So we're going to stay till next May, and the business has allowed us to do that. Just renting out your primary resident. So we're renting out our home back in Georgia, using a lot of that money to pay for the rent at our new place. You know, the rest of the rentals just covering regular life stuff. Parker is a really analytical guy, very meticulous. And he and his wife, Casey, they went through.

And they, whatever, this is how much we're going to spend for food. This is how much we're going to spend for dinner. You got a broken down pretty. You had your gym membership all. on there and you have the insurance and the lightbo, and you can't take more than three showers a week. And I'm kidding. But he got really meticulous. And he said, okay, this is my freedom number. This is where my expenses are. Where can we reduce some?

Where can we cut some? And now we've got that number where it needs to be. And now we're just going to focus on the passive income that's going to exceed that. If you're like a meticulous person like that, do that. If you're not, you don't have to. Or like the whole goal of that was just to make it really real in my head. So you're living in Colorado and you still have your operation. in Atlanta? So I started flipping houses in Atlanta, and then I wanted a virtual market. So we started

in Charleston, South Carolina, and that kind of took a lot more work than I thought it was going to, but Matt led me through a lot of it. And we finally had a really successful year last year. The reason is I stopped marketing in Atlanta, just because I had to focus so much in Charleston. So we stopped in Atlanta and recently started back in January. So now we kind of took that system of the wholesale, wholesale, whatever the exit strategy is out there, but virtual, and copy and pasted it and put it into Atlanta. You're in Colorado living the life that you want to live where you want to live at the moment, and your operations in Atlanta and South Carolina are supporting that existence. So what do you see for the future? What's next? The next big goal is a million a year,

each in both markets, and really focusing on building that rental income. And instead of flipping all those keeping some in Charleston as well as Atlanta for the personal portfolio. I was a little scared to build property in Charleston because, you know, it was all virtual and I didn't want to own anything and I didn't know that many people out there. But after being there for about two years now, kind of starting to build those connections now. So holding some property over there is, you know, would be fine. I figured we're in Colorado and never go to our rental property in Atlanta, so what's the difference? So can you finish this sentence for me? I almost didn't start working with Epic because I don't think I can finish it because I didn't.

didn't have any second thoughts. You have the second thoughts? Okay, very good. I think the day I got fired, I called Mercedes, and she said she had one spot left, and I said, let me have it. Very good. Awesome. So what would you say to somebody that would be considering working with Epic? I would say definitely go ahead. I mean, there's really, I mean, you consider the cost, but it's like, look at the lifestyle, look at the, you know, popping champagne bottles, look at the, you know, the freedom. It's like, just measure that in your head. No, it's not going to happen right off

the bat. Everything worthwhile takes work. if that's worth it to you to, you know, have that lifestyle for yourself or lead that legacy for your children, you know, whatever your personal why is, then it's a no-brainer at that point. This podcast is a part of the C-Suite Radio Network. For more top business podcasts, visit c-sweetradio.com.