Epic Real Estate Investing - The Big Picture | Episode 128

Episode Date: November 4, 2014

The goal of this week is to get back to the basics and allow you to land a 4-figure check in your pocket by the end of December!   But Matt doesn’t just want you to complete the transaction and get paid for it.  He wants you to complete the transaction, get paid for it, and understand everything that happened during the process, so that you can rinse and repeat as many times as you’d like.  Sound good?   Today Matt is explaining the big picture of how real estate investing works and setting realistic expectations about the type of work you should expect to put in.  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

Broadcasting from Terrio Studios in Glendale, California. It's time for Epic Real Estate Investing with Matt Terrio. Yeah. Hello. Hello and welcome. Welcome to the Epic Real Estate Investing podcast, the show where I show people how to escape the rat race using real estate. So if this is your first time here at the show, welcome.

Glad that you're here. If this is not your first time, welcome back. So escaping the rat race using real estate. say, well, I did it by myself by changing just one thing, just change that one thing one time. And that one thing that I changed was my focus. I shifted my focus from making piles of cash to making streams of cash. And with that one shift in my focus and following it up with correlate action, I accomplished in just under four years what 95% of our population is unable to do in 40 years.

And that is to achieve financial freedom. And it feels good. And that's what I want for you. And to help you get started, I want to give you. and personally walk you through the two easiest and fastest strategies of the 12 that I use to create my financial freedom. And you can get them at free real estate investing course.com, absolutely free. Go there, it's free, and it's all new, by the way.

Maybe I've failed to mention that, or I haven't mentioned as much as I probably should. It's an all-new course, you know, just updated the entire course about 30 days ago. And guess what? It's still free. But it won't be for long. So come January 1st, I'll be absorbing that free course into the Epic Pro Academy. So get it. Get it before it's too late.

There's enough there to start making money in real estate. I've had several people on the show that have done just that with nothing else, just what's contained in that course. Okay, so here we are in day two of our getting back to the basic series. If you're just finding us, make sure you download yesterday's episode as well. Listen to it first. and then you can catch up at your own pace. That's why podcast rule on time learning. You can do it on your own pace.

All righty. So, oh, almost forgot. I've got some brand new dates on the calendar, the live events that we've got coming up. You know, we did some live events in 2014. They were such a hit. And in hindsight, I kind of regret not doing more. But as they say, regret, that's a wasted emotion. All you got control of is the future.

And so you control the future by. controlling your present or I should say your future is created by controlling your present. So presently, here's what we've got on the calendar. December 3rd, my entire team and myself will be in San Diego for another Grub and Grow Rich event, the last one of the year and we'll be hosting it in the Gas Lap District, gas lamp district. If you're hip to that, you know what to expect. If you've never been, I highly recommend.

It's my environment, so to speak. Then in January, on January 17th, we're headed to San Francisco, where my entire team and myself will be hosting a Grub and Grow Rich event, a lunch event. It'll be on a Saturday. And then immediately after that event, I'll actually be holding my very first epic inner circle mastermind meeting. And much more information on that to come. But this is where the first one will be held. And this is where the inner circle members will sit in a round table environment and discuss each. member's business while each member offers suggestions and comments to the other, all in the

interest of improvement, of increased efficiency, increased profitability, just making more money by doing less. That's what we're really out to accomplish. You know, it's a mastermind meeting. Okay? You can put all those minds together and, you know, one plus one equals 11. That's how it works. So more details on that coming at the beginning of the year.

And actually December, I'll share some more with you on that. And in February, we'll be doing it again at Epic Mastermind Meeting, followed by a Grub and Grow Rich event in Laguna Beach. Now, I know, I know. All in California, right? But hey, it's winter. So we're staying west while it's cold everywhere else. But don't you worry, we'll be moving east in March. And our first stop will be in Indiana with an epic property tour, a Grub and Grow Rich event, and an Epic Mastermind meeting there as well.

And all info for these events can be found at grub and grow rich.com. Grub and grow rich.com. All right. Enough of that. I just wanted to give you a heads up as our San Diego event is only a month away. Okay? Now, the object of this week's series of episodes is to check in on your business, to check in on all of our businesses,

to see if, you know, we're complicating it too much. All in the interest of becoming better at what we do. becoming more efficient and more expedient and more profitable. And additionally, it's to have you understand and implement the steps of the epic approach. This is a very simple business, but I've simplified it even more. And I want you to understand and be able to implement the steps of the epic approach, complete a real estate transaction as quickly as possible, and put at least a four-figure check into your pocket.

That's what we're going for. ideally before the end of December. That's the goal for you. That's my goal for you. Okay. Yes, December. We're not taking December off. Remember, most people are slowing their business down in December.

This is a time where you can encounter much less competition if you stay working, which equates to more opportunity if there's less competition. And my experience has me convinced that opportunities in December are not only more abundant, but they're bigger. They're bigger and easier. I can't remember a December where I didn't hit at least one home run. I mean, think about it. What would cause someone to sell a property during the month of December?

You know, amidst the hustle and the bustle of the holidays. You know, it could be a number of things. Whatever it is. It's something in their life that will cause them more pain if they wait until after the holidays than if they sell it during the holidays. And to me, that just translates to motivated seller. I'm the problem solver and you've got an issue and I'm going to help you get it and I'm going to give you peace of mind and an exchange for that piece of mind. You're going to give me some equity.

That's how it works. So getting you paid on a transaction in December is a very realistic goal. Okay. However, I don't just want you to complete the transaction and get paid for it. I want you to complete the transaction, get paid for it, and understand everything that happened during the process so that you can rinse and repeat as many times as you want. So you'll be running on all cylinders during the spring, the most active time of the year for real estate. You see, your ability to understand how to transact a deal from start to finish is what will give you independence. And even if you're doing a bunch of deals, you know, there might be another more efficient way to do it.

So I'm going to walk you through this, okay? And once you've got that, once you understand how to do that and you can do it over and over again, you know, that's where your independence comes from. You just can't put a price tag on that. And just think, you paid absolutely nothing to listen to this podcast. podcast, did you? No. But you did, however, give me something much more valuable than your money. You gave me your time. And that is something I don't take lightly. Now, everyone's situation, it's different. There may be certain factors or unknowns affecting your success, but what I share with you this week will not be one of them. Okay? This is one thing that you can depend on.

This approach has been thoroughly tested and proven over and over and over again. Not only is it working for me every day in my own real estate business. It has worked and is working for thousands of people that came before you. I mean, I've had so many of them on this show where they've shared how it worked for them. They've shared their successes. And all of those episodes, they're all still up for you to listen to. So feel free to go back through the archives, lots of great success stories, lots of great examples and just great overall testimonies about real estate and how this works.

So there's no question that the information I'm going to share with you works. The question is whether or not you will work. Okay? And that's entirely up to you. So here's the deal. I'm going to dive in and get to the good stuff right away. I'm going to get you off the sidelines. We're going to get you suited up.

We're going to get you into the game. We're going to get you making plays. And if I have my way, you are going to win. I'm going to skip the hype. I'm going to get to the point. I'm going to stay on track and I'm going to follow through with you all the way to the end. That's my promise to you. However, I can't do it for you.

Okay. I cannot. This course, this podcast, this week's series is not going to do it for you either. True success never happened as a result of sitting on the sidelines and watching others. You have to decide to take control of your own journey by taking action and meeting me halfway. Got it? If you do that, this will work for you. It's going to take some commitment on your part.

It's going to take some effort and more than likely a little sweat as well. This week I'm going to cover the basic two strategies. the two easiest and fastest paths to a paycheck and real estate. Now, they may not be easy and fast by some people's standards, but they are the easiest and the fastest methods you are going to find if you want real results. So why do I keep reiterating that this business is simple, but not easy? You may be wondering that. Okay, we get it.

It's not simple. It's simple. It's not easy. Well, I say that, you know, not to discourage you, that wouldn't make any sense, but I say it to set your expectations appropriately. You see, many people, they decide to give real estate a quote-unquote try to see if they can make some quick money. So if this is you, I've got some good news for you and I've got some bad news. Okay.

You can make some relatively quick money in real estate. That would be the good news. Now, the bad news, not necessarily bad, but perhaps I guess an unpleasant truth is that making money in real estate, whether it's quick money or long-term wealth, that takes effort. It takes consistent and persistent effort. It takes commitment. You know, and as I promised this moments ago, these are the easiest and fastest strategies to making money in real estate. These strategies will also launch your journey to creating lasting wealth.

You know, in the beginning, it likely will not be easy, but it will get easier. And if you stick it out, if you commit, my next promise to you is that it will all be worth it. All right. Now, I know that the effort is required is worth it because I've lived it. Okay? You know, when I got started investing in real estate, I had just left a sector of the music industry that had been rendered obsolete due to the advent or the emergence of the digital download. And the stresses of that business's demise resulted in a bankruptcy for me and a divorce.

And I ended up bagging groceries just to get by. Yeah, you heard me right, just like the infomercial say, I'm a total cliche. I started investing in real estate when I was broke, credit devastated, and lonely. Poe broke and lonely. And if that happens to be your current situation, there's good news for you. You can do this. And if that's not your situation, there's even better news. You've got a head start over me.

Okay? You can do this too. Easier. Now, when I got started investing in real estate, my ultimate goal was to receive $1 million of annual passive income. That was my focus. That's what I wanted. And that's what I still want.

actually, I'm not there yet. And if you're listening to this now, I'm going to assume that, you know, you're here to learn how to do something similar. I mean, a million dollars a year, you know, that would be cool, right? How could you sneeze at that? So maybe you want more than a million, though, or maybe you'd be okay with a fraction of that. It doesn't matter what specific dollar amount that you have in mind. It's your life, your goals, your decision. You get to make that decision.

And because, you know, you know what's going on over there better than I do over here. So regardless of what your number is, though, we all have to move through the same four stages to meet our respective financial goals. Okay. Regardless of what your number is, we all have to move through the same four stages or move through the same four stages. So let that sink in a moment. Let us sink in because the process is the, the process is the same, regardless of the number that you have in mind for yourself. So if you want $1 million or $100,000 or $10 million, the process is the same. Okay?

So choose your number based on your desired lifestyle, not what you think you can do or not what you'd think you'd be satisfied with. Choose your number based on what you want your life to look like. And don't short yourself. Don't sell yourself short. I'm not going to let you do that. I promise that you are better than you think you are. That's a promise I can make to it. So be bold with your goals.

Now, with that said, in the end of the end of your life. interest of keeping this as simple as possible, I'm going to use a nice, just round number of $1 million. I'm going to use that as our example number for an annual passive income goal. Now, in order to get to your $1 million of passive income, you'll have to move through the natural progression of becoming a millionaire real estate investor, and it happens in four stages. Stage one.

You got to think like a millionaire real estate investor. That's stage one. Stage two, you've got to buy a million dollars of real estate. Stage three, you have to own a million dollars of real estate. And this is very different than stage two. Now, get to that. Stage four is the last stage where you actually receiving a million dollars of annual passive income from your real estate. You've got to think like a millionaire.

You've got to buy a million dollars of real estate. You got to own a million dollars of real estate. And then you get to receive a million dollars real estate. Now, I borrowed this four stage progression from Gary Keller's book, the millionaire real estate investor. Highly recommend it. You see, you know, I've spent tens of thousands of dollars. Yeah, probably, I guess we took real world example education dollars that I've spent on my education. hundreds and hundreds of thousands.

But of all the money that I've spent on my own education, Gary's philosophy in this simple little book, it just kind of wraps it all up in a nice little package. That's where I got this progression. So I tend to use it as a reference point. It monitors myself. I use it as a reference in my own business, and I also use it when I teach people. It just kind of simplifies things. So if you haven't read the book, I highly recommend it.

Gary Keller, the millionaire real estate investor. Now, my current place in this progression has me sitting somewhere. between stages three and four. Okay, so I do own a million dollars of real estate, but I am not receiving a million dollars a year from that real estate. And I got there by using the epic approach of which didn't require me to use one dime of my own money or my really crummy credit score. And it's not like I had a choice either. I didn't have any money when I got started and my credit score wasn't doing me any favors either. You've heard me say that before. Now, I still use this epic approach as my primary approach to real estate investing today. I still use it. It's the exact same.

It's the foundation that we use here in the office. And after 500 transactions in the last five years, I still have yet to use one dime of my own money or one point of my own credit in a transaction. And I have money now. I have some. Imagine that. But I still don't use it. You know, why should I if I don't have to? The epic approach allows me to do that. And that's the approach that I'm going to teach you this week. So within the epic approach, I have multiple strategies at the ready, multiple, so I can essentially handle whatever deal comes my way if there's a deal there to be had. And I call on them frequently.

I use all of them. But in the interest of getting you on the road to becoming a successful real estate investor as fast as possible and or just kind of resetting up your business and injecting some efficiency and some simplicity into your business, we're just kind of focus on two specific strategies and putting some real cash in your pocket before the end of December. How does that sound? I'm going to lead you through two basic

no money required strategies that you'll use to jumpstart your journey. The highly attainable intent is to get you paid before the end of December, an extra paycheck that you wouldn't have gotten otherwise. So in total transparency, though, this is not going to happen for everybody, okay? It's not going to happen that fast for everybody.

But stick with me and stay in action and there's no reason why it can't happen for you very soon. I mean, would January 5th be so bad? Would February 1st be so bad if you got an extra 10 grand? Right? So these two basic no money required strategies are the two strategies I feel are the most simple and efficient strategies to a paycheck. So if you decide to later become of the Epic Pro Academy,

I'll introduce you to another 10 or so no money required methods. But for now I'm going to focus just on these two. They're absolutely enough to get you started. And as promised, I'm not going to be able to. going to hold back one bit of information. I'm going to give you everything you need to know, everything you need to make good money in real estate anytime that you want specifically by the end of December. And once you know how, no one will ever be able to take that knowledge away from you, the know-how will be yours forever. All right? So we're going to start at the beginning. Where else?

It's important to know that all active real estate investing strategies have a four-step process in common. You know, regardless of what exit strategy you choose, you're going to have to, one, find the deal. two, you're going to have to secure the deal. Three, you're going to have to analyze the deal. And four, you're going to have to close the deal. Now, that process right there forms the basic sequence of the epic approach. Now, in a little more detail, it breaks down like this. And I like acronyms.

So I created an acronym out of epic. So the E stands for evaluate the deal and decide. P stands for present the offer and get consent. I stands for investigate and negotiate. And C stands for coming with the cash and close. Lots of C's there. come in with the cash and clothes, my favorite part. Now, that precise order of events is what has enabled me to build my own real estate portfolio

of over 200 units in less than five years, never having used my money or my credit. So, you know, 200, that may sound like a lot, but once you learn this approach, it just kind of happens. And I share you, I'm far from done. And, you know, once you learn the approach, you probably won't want to stop either. Now, I want you to understand that the numbers that I'm sharing with you right now, they're not, I'm not trying to brag or impress, not by any means. I'm merely just sharing what I've been able to do so that one, you know that the epic approach

is proven and two, you know what's possible for you using this approach. I mean, I just, you know, that's the best way I can do it. So I could just, this is what I've done and this is what I'm doing and it's working, it worked back then and it's working today. Okay. Now, there is one pitfall. There is one pitfall, however, that it's a pitfall that many inexperienced investors they succumbed to and I don't want this to happen to you.

All right? Many times people place too much focus on that fourth step, the C, that come in with the cash and close phase, that being the last phase. They place too much focus there. And, you know, people who don't have the cash up front, people that are getting started with no money, or the foggiest idea of where they're going to get the cash or money,

once they do find that deal, they never take the first step. They never even go look for a deal because they don't know where the money's going to come from. So they never even take the first step. Don't do that. All right? Don't do that.

To increase the likelihood of this week being a success for you, especially if you'd like to make some money sooner rather than later, I'm going to ask that you move at the speed of instruction. Take it one step at a time and follow it exactly. The steps and sequences are very specific. You know, if I ask you to write and mail some letters, go do it. If I ask you to visit a website to analyze a property, go do it. If I ask you to call a realtor and ask a few questions, do it.

And most importantly, do it when I ask you to do it, not later. Do it when I ask. If I ask you to write an offer on a property, do it when I ask. It's the only way to make this work. Okay, that's what we call moving at the speed of instruction, is do it and do it when it's asked of you. It's just, it's that really this is the only way to make this work. Well, I suppose it's not the only way, but it is by far the fastest and most surest way, okay? don't worry if you don't know how to complete the next step.

That's why most people never get anywhere in real estate investing. They're so scared of what's down the road a mile that they never travel the first 200 feet. You know, how ridiculous would it be if you were parked in your driveway in the morning, ready to go to work, and you waited for every light between your home and your office to turn green before you ever pulled out of the driveway? You'd never get to work, would you? But that's how most people approach real estate investing. Most people wait for every light to turn green before they ever. place their foot on the gas, let alone even start the car.

So don't do that. The lights will never all be green at the same time. Moving at the speed of instruction is how I've realized so much success in my investing business and actually every business that I partake in. But my real estate investing business is where it really came together for me and where I learned that I came into this business knowing nothing, but I moved at the speed of instruction and I know in my bones that if I had waited for just, just the right moment to get started, I never would have succeeded in the speed of which I did,

let alone maybe even experience any success at all. So follow this real estate investing course as it is presented and take the action suggested. I'm going to take you as far as you can see, and when you get there, you will see further. I promise you that. I'll take you as far as you can see, and when we get there, you will see further, and you two will be traveling the road to becoming a successful real estate investor. All right, so let's make that deal official with a virtual handshake here, okay? And I agree that you'll follow along from beginning to end and move at the speed of instruction. All right?

All right, great. Now, if you take this seriously and do for the next few years what most people won't do, you'll be able to do for the rest of your life what most people can't do. I love that quote. If you take this seriously, what I'm about to share with you this week and do for the next few years, what most people won't do, you'll be able to do for the rest of your life what most people can't do. You know, I follow Reverend Run on Twitter.

And he quoted something like that the other day. On Monday, it was, got to get up and do what you got to do so you can do what you want to do. Do what you got to do so you can do what you want to do. All righty. So that's it. He's got the essence of it right there in his grip.

And now that you get the picture and you've agreed to moving at the speed of instruction, we're ready to get to work. And that does begin tomorrow, okay? before you go, though, it's time to give away this episode's $100 Amazon.com gift card. I'm doing this on every episode in November, and all you have to do to be eligible is to win is to go to iTunes and leave a review of this show. If you've already left a review at some point in the past, then, hey, you're done. There's nothing for you to do.

You've already entered. And if you'd like to enter, just follow me. Head on over to iTunes. Type in Epic Real Estate investing into the search window. Click on this podcast, then click on the ratings and reviews, and, there you go, leave a review. And since I'm here right now, I'll show you how it works. I'll spin the scroll bar, spin, spin, spin, down, down, down, down, down, and stop it on a

random review, like this one right here. From way back, December 2nd, 2013 by Blake Stevens. And the headline says, Matt is taking it to the next level, five stars. This has always been a great podcast, but lately Matt has been taking it to a whole. another level. This is a great podcast and more than once I've gone back to take notes and put his advice right into my business procedures. Awesome. Thank you, Blake. Send me an email to podcast at epic real estate.com and I'll reply to that email with a $100 Amazon.com gift card that you can use for yourself or you can use it for the holidays, whatever you want. So that's how

works. Every episode of November, I'll give one of these away. All righty. That's it for today. I'll see you tomorrow for another episode of Epic Real Estate Investing. I'm Matt Terrio. Live in 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. 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 Terrio. This podcast is a part of the C-suite website. Radio Network. For more top business podcasts, visit c-sweetradio.com.