Epic Real Estate Investing - The Fast Track! Book Smarts or Street Smarts? | Financial Freedom Friday

Episode Date: April 25, 2014

There's a bunch of debate these days on what constitutes the right education. Should we learn from a book and classes, or from life experiences? You guessed it! It's Financial Freedom Friday! ------------------------- Download Matt's free real estate investing course "How to Do Deals | No Money Required" at FreeRealEstateInvestingCourse.com or text FreeCourse to 55678 "Click" what interests you most:    Education Properties Income Coaching Learn more about your ad choices. Visit megaphone.fm/adchoices

It's time for Financial Freedom Friday with Matt Terrio. Let me ask you a question. Tell me this. Who do you think stands a better chance of a safe passage through a dark alley alone? John, the stockbroker, who's read several books on self-defense and the art of the ancient samurai, but has never thrown a punch. Or Tim, who barely graduated high school, but has walked himself home through the dangerous streets of his neighborhood alone since the age of of eight. John or Tim? You know, in this scenario, everyone picks Tim, but their reasoning it's rarely sound. You see they choose Tim because they assume he's a better fighter or maybe he's packing a heat. But in reality, Tim really stands a better chance because experience has shown him that traips him down that particular

alley after the sunsets that puts him at unnecessary risk. And so he just chooses another route. Whereas John, He feels confident that he can defend himself in any situation and therefore walks directly into danger without knowing there's a well-lit path just two streets over, which would have made a much better choice. This happens repeatedly in the great world of finance as well. You know, people think they know what to do with their money. But usually they're walking down a poorly lit alley in a bad part of town, believing they

all have the necessary defenses at the ready. people, they're training that financial education consists of a well-padded savings account, a personal residence, and a financial planner who handles their long-term investments. Then they just kind of crossed their fingers and they hope for the best in creating financial freedom. You know, in 2008, most of those people lost their retirements. My mother was one of them. And that wasn't the first time this had ever happened either. The reality is, if you don't understand what to do with your money, you're better off to

stacking your cash under a mattress and sleeping on it than entrusting it to an expert to invest for the long term in stocks, bonds, and mutual funds. But hold up. I mean, really? A mattress? Is that your only option? Stuffing your cash in a mattress? Certainly there's got to be a better alternative, right? Sure. What's more valuable than a mattress full of cash? A financially educated mind. You see, to be street smart, you must live through experience. To be book smart, you need only take a class. To be financially smart, you're required to do both. Classes, seminars, books, and coaching, those are all vital to your financial education. But the gravy lies in learning from people who are successfully doing

what you want to do and then implementing what they are doing. So you can't take one class, expect to rule the real estate world, and become the next Donald. Trump, no, real-life financial education is a process that takes time and experience. So if it's your goal to learn from people who are successfully creating financial freedom, how do you find them? I mean, how do you know the difference between even just a savvy investor and an average investor? Well, educated investors, they understand a very magical component.

Are you ready for it? We talk about it a lot here. It's called cash flow. They understand that. The financially educated learned to have other people send them money. It's a formula that the masses tragically never learned to implement. The savvy investor, they invest for cash flow, capital gains, and tax breaks in very carefully selected areas where they have monitored and predicted the trends.

Whereas the average investor, they often invest solely for capital gains in assets that they can't even control. That's not investing. That's gambling at best. You can't control the market and you can't control appreciation. When you have no control, you know what that does, it makes any and every investment risky. So what should you do with that little bit of money that you do have saved up? Well, you have three options.

I'll run it down for you. One, you can put it under your mattress and you can do nothing and hope for the best. Two, you can send it blindly to an expert and hope for the best. Three, you can invest in your financial education, take action on what you learn, and control the outcome. Those are your three options. If you chose option three, I believe you have excellent selection. So here are a few tips to getting started creating your financial freedom.

One, invest your time before you invest your money. Two, seek out the most relevant information that you can find. Three, start small. Dream big, but start small. is not get rich quick, but it is get rich permanently. You know, rental real estate, it did it for me. And in fact, it's done it for more people than anything else. Maybe it'll do it for you too.

Why don't you just meet me over at epicproacademy.com, get the facts, make a decision, and perhaps we can learn and earn together. See you next week on another episode of Financial Freedom Friday. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com.