Epic Real Estate Investing - Significance - The Sixth Level of Real Estate Investing [Encore] | 724

Episode Date: July 25, 2019

Today, learn the sixth level of real estate investing: significance! Find out how to shift your focus at this stage for maximum growth and specific steps you can take to grow your business even further. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey, Rockstar, today's episode brought to you by the professionals over at Lighthouse Advocates, where they've been rescuing businesses in the nick of time for more than 20 years. If you need help with marketing strategy or wealth strategy or tax planning or CFO services, business innovation, bookkeeping, payroll services, project management. Just about anything to do with your small business, Lighthouse Advocates team of professionals is your resource to whatever the rough seas of life are thrown at your business. They'll bring you safely into shore.

So go to lighthouse advocates.com and request a business acceleration session. It's free. You won't be pitched. You won't be sold. You'll merely be pointed toward the right solution for you. And when you're there, tell the team that Epic sent you and get a little extra special attention. All righty. Lighthouseadvocates.com.

Now on with today's show. This is Terrio Media. Yo. Yeah, yeah, we got the cash boat. You didn't know home world. We got the dash low. Yeah. Hello.

Hello. And welcome to the Epic Real Estate Investing show, where we meet here each and every week to help everyday people escape the rat race using real estate. So thank you. Thank you for listening to the show. Thank you for sharing this with your friends and family. And if you haven't done so already, I got something else for you. Make your way over to Instagram and follow us at Epic Real Estate.

And make sure you turn those notifications on as I'm going to be giving away the best. best of the best books from our guests that have appeared on our Thought Leader Thursday episodes. And I'll be doing these book giveaways several times a week all summer long. As you know what they say, a formal education will make you a living. A self-education will make you a fortune. And this is my contribution to you to help you with that self-education. There's no catch. Nope, none at all.

I won't be asking you to pay for shipping or anything like that. No tricks, gimmicks, nothing. Just going to send you the book. It's not even my book. I'm just going to send you the book because I like the book. I like the guest and I want to send it to you, but I don't have unlimited quantities of these books. So that's why you need to turn your notifications on. So you're the first to know when it's actually happening.

All righty? So in a few months, I'm going to be getting together with a medium-sized group of aspiring investors to turn them into badass real estate investors at the next Epic Intensive in Boston. So if you'd like to join us, go to epicintensive.com for all the details. And just so you know, the closer that we get to that event, the higher the ticket price. will be. And that's not just because we want to make more money in that regard. It's because that's how the hotel industry works. The closer we get to the dates, the harder our money gets and the more difficult it is for us to get that back or make any modifications or anything like that.

All righty. So epicintensive.com. I love to work with you side by side. Love to meet you in person and hang out in just a city that I've never been to. This is why I actually am holding it in Boston. One, we've never been on the East Coast, but maybe even more selfishly. I've never been to Boston and I just want to go. And Uncle Sam, because I'm doing an event there, Uncle Sam is going to allow me to write it off. So that's why my family's making a vacation out of it. It might be a good idea for you to make a vacation out of it.

If you got the time, Boston in October, from what I hear, is absolutely amazing. All righty. And then lastly, I'm opening up again our pilot program to show you how to get your first or your next deal using little to no money. and you can sign up for that pilot program at free real estate investing course.com. Free real estate investing course.com. Yep, still free, but not for long.

So grab it while you can while it is still free. And actually it's better than free because I'm actually going to pay you to complete the course. Because by you completing the course, that will help me help more people. So go to free real estate investing course.com to register for this new pilot program. Just opened it back up. And let's resume our way up the six levels of real estate investing. Let's keep climbing that ladder to our sixth and final level that we call significance. Significance. And you are at the significance level if your real estate business is generating at least $100,000 a month for you, you're probably doing 10 plus deals a month.

your team is performing most of it for you and you are experiencing much more free time at this level and it's a brilliant place to be. It's magical almost. And until you get there, it's like you just don't know what life can really be like and what's really available to you. And so what's happening right now is,

you know, you're probably making a lot more money by lending money. You're making bank by being the bank. You're getting clear to the idea that the real money, money is actually in the money. And you'll understand when you get there. And you're experiencing much more free time.

You're truly enjoying the fruits of your labor. You're getting to do a lot of what you want to do, what you want to do. Business, it's running on its own. Cash flow is covering your basic monthly expenses. It's certainly enough to live on. You have duplicated yourself, so to speak. You are the owner-operator. You're the commander of your ship.

Your communication systems are in place. Your expectations are set with the team. they all know what they're supposed to do. They're all good at it. You're among the market leaders, if you're not the market leader, and your vision, what you see for your company and the future of your company, it's inspiring your team, it's inspiring your partners. And everybody wants to work for you or with you.

Now, what you might be feeling at this level is, is this it? Like, I thought there was going to be so much more. What's next? Right? Or you're feeling, yes, that's, This is everything I thought I was going to be. But it's usually one of the extremes. And a lot of people get to this level, even though they're doing everything they want to do,

they've gone out and they've built something, and they built something beautiful and magical. And it's like, what's next? Right. And you might be thinking of much higher aspirations now, wanting to help others accomplish the same. Maybe you're thinking about coaching. Maybe you're thinking about mentoring. Maybe you want to be like a speaker. You want to write a book maybe. You're experiencing more satisfaction from who you've become than what you've accomplished, though.

You're really looking behind like, wow, look who I've become. Look what I did. And that's much more gratifying and satisfying than what you actually have, if that makes sense. And you've got this huge desire to make an impact and maybe you even feel invincible. So that's what you might be feeling. Now, there's a little bit variations of what those feelings might be and what's actually happening. I mean, if you feel 80 to 100% of the above what I just mentioned, if that describes you and your situation, I just want you to know you have reached rock star status.

You rock, right? You need to be admired for your wisdom and your experience, and you be acknowledged for your persistence and your tenacity. and you should be admired for your influence and the contribution to your family, the contribution you've made to your team and your partners and your vendors and the contribution you've made to overall society. Congrats.

You're amazing. Now, when you're, where you're vulnerable, though, still, you've got vulnerabilities at every single level. You've got this vulnerability, potentially, this reluctance to adopt to change. I think about when I was making this transition from, or when I was in the music business. And boy, I resisted the internet and the digital download with all my might.

And boy, I paid for it. And the world's changing even faster today than it was back then. And you understand and you're very clear as to what got you here. Well, things might change in what's got you here or even what's keeping you here. That might not be what gets you there or has it last for you in the future. So be careful you're not reluctant to change. Keep an open mind. Because you have this feeling of invincibility, and that's okay.

I mean, you've accomplished a lot. You deserve it, right? But that feeling of invincibility can also be a vulnerability. You have the, you're potentially being, you're over leveraged potentially. You could be losing control of company culture because you're a little bit detached from it now. Potentially even because you've done so much, you're underestimating the competition. underestimating the market, you may be underestimating technology, maybe underestimating the competition. So that's where you're vulnerable. So what is there to do? Well, I want you to focus

on how the team is going to get the company further ahead. Not necessarily how you're going to get the team further ahead. I want you to focus on how the company is going to get you, or the team's going to get the company further ahead. I want you to change your behavior from to do lists to planning the future, right? You're no longer going to be focused so much on execution as you are planning. You're not going to be focused so much on sales as you are customer service. You're not going to be focused so much on building yourself as you are building your team. And understand that further growth is going to come from the further developing of your team than the real estate strategy itself. So consider taking some or all debt off the table at this level,

just to reinforce what you've built, to preserve what you've built. Going through it and maximizing leverage to build your cash flow is what I recommend responsibly and as educated as you can be while you're doing it. But once you hit your cash flow goals,

your cash flow goals, it's time to consider to start taking some of that debt off the table to help preserve it. You're going to look at different areas where, well, you actually at every area, how can you create a little bit of overlap, a little bit of redundancy amongst your team members.

Review where you could leverage existing team and services to create additional income streams. Right? If you got this construction company or a great crew that works for you, consider how you might be able to leverage them and have them do work for other people as well and to create an additional stream for you. Maybe it's time to write a book. It can be very gratifying. I'm on my fourth book right now.

And when it's all done, I just have this great sense of accomplishment. So maybe it's time to write a book. Maybe consider offering ownership percentage to some of your best team members, the people you don't want to lose, the people that are essential to your operation. They helped get you here. If they didn't get you here, darn their, you know, off their own sweat, right, and their own broken backs. And they supported you. You supported them and they grew, and that growth and that loyalty to you has helped you get where you are. Consider sharing.

Consider offering some ownership, so they've got to vest. interest to keep your engine moving forward, okay, to keep your ship moving forward. Consider hiring an outside help, an outside consultant to review the systems and review the procedures for even greater efficiency. Now it would be really good time to even bolster your tax strategy even more, to really strengthen your asset protection. If you haven't done so already, based on the level that you've, of tax advice, financial advice that you received up to this point, might be a good idea to start considering moving into the

how do I own nothing but control everything? Ask your tax strategist, your financial strategist on something that looks a little bit more like that because you've got a lot to lose now. You've built up a lot. So you want to protect it. You want to bolster it. You want to damn it up. And then consider hiring an overall just financial strategist, a wealth building strategy, like a real one, someone that actually is wealthy themselves. or themselves. Okay? And here's some key questions for additional insights and actions.

Ask yourself, hey, if I was my competition, how would I put myself out of business? It's a really good question. If I were my competition, how would I put myself out of business? That might aspire at an action of what there is to do about that. Because if you can identify that, that might be something you want to fix. Another question, where could technology? or new societal thinking disrupt my operations? Where could I disrupt my operations?

Or where could new technology and new societal thinking disrupt my lead generation? Or disrupt my conversions? Or disrupt my exit strategies? Think about those questions. It might inspire new action. Something to do about that. Another question. In a perfect world, how would you want your business to move forward?

In a perfect world, how would you want your business to move forward? How would you want your business to move forward? Another is, you know, now that money is not an issue, what could you do to create more fulfillment for yourself? Right? Money is no longer the issue. That's no longer the worry or the concern that it used to be. What could you do to create more fulfillment for yourself?

What's going to make you feel good? And, you know, just what action steps could you take from these new insights, the new insights that these questions create? A recommended resource? would be Lighthouse Advocates, the sponsor of the show. This is where they really kick ass, so to speak. The Lighthouse Advocates, you can go to LighthouseAdvocates.com and start looking into some elite financial strategy.

All righty, some elite tax strategy, some elite asset protection. All right, lighthouseadvocates.com. All righty, so that's it for today. You've done it. You've climbed the mountain. You've climbed the ladder. You know exactly what it looks like at each level. You know exactly what's going to be happening at each level so you'll know where you are.

You'll know exactly what you'll be feeling. You know exactly where your vulnerabilities will be. And then you know exactly what actions to take to fix all those vulnerabilities and move yourself up to that next level. All righty. So if you'd like to continue this journey and keep climbing on the ladder, just keep listening. We're not going anywhere. We're here four days a week, about to be five days a week very, very soon. And if you'd like to go fast, go to our.

E-I-A-A-A-S.com. Tell us a little bit about your business, and we'll tell you what we can do for you to help you go fast. All righty, God bless to your success. I'm Matt Terrio, living in the dream. Yeah, yeah, we got the cash flow. Huh, yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow.

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