Epic Real Estate Investing - The People Who Do This Will End Up With Your Dreams |796

Episode Date: October 5, 2019

“So, if it’s child’s play to someone else, why cannot be child’s play for you?”, Matt Theriault In today’s episode, Matt explains why is important to play big regardless of your results. Furthermore, he shares the stories of some of the most successful businessmen in the world and how thinking big helped to become what they are now.   Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit R.E.

E-I-A-A-Ase.com. Here's Matt. Do you realize that it takes no more effort to do a $500,000 deal than it does to do a $50,000 deal? But the same amount of effort on one or the other actually produces a very different result with regard to your bottom line. I mean, you have to do 10 times as many of those smaller deals to make as much money as you can on that big one.

and so many people are really focused on the number of deals that somebody else is doing rather than the amount of profit that that other person is doing. The volume sounds great. I'm flipping two properties a week. I'm flipping four properties a month, whatever that may be. And you're like, well, I only flipped one here in the last two months. But if you look at the end result, they're going to be very, very different. And this is a realization that I had.

I wish it had come to me much earlier. Because I really could have collapsed some timeframes and got to where I was even faster than I did get there. But today I'm always trying to keep this in mind. And even when you get settled at one level, like, no, it can go further. Because, you know, now that 500, 400, 500, 600,000, $600,000 deals, that's kind of an everyday thing. And I'm thinking, well, if that's like an everyday thing when the $50,000 thing was an everyday thing, well, 500K, no big deal. Well, it's no more difficult to a $5 million deal than is it than to do the $500,000 deal. So those are the thoughts that are going on in mind. And the problem is that

we tend to get caught up in the numbers, especially when we first get started in real estate. I mean, we just assume that a half a million dollar property must be harder to flip and must be harder to purchase than a $50,000 property. But it's not. I mean, it can take the same amount of time and produce way bigger dividends. And, you know, just getting focused on the numbers in that context is a trap. Because we get fixated on the numbers instead of the process it takes to achieve, or to complete the transaction. I mean, in some regards, those bigger deals are even easier.

Just because, you know, you're working with a different level of professional. You're typically working with a different level of buyer or seller and a lot less complaints and gripes and come that through those channels. A lot less or a lot more understanding comes to those channels and people just get it and they're not so emotionally attached. And, you know, I've found a lot of those deals to be way easier than some of the horror stories of these $50,000 deals I've done over the years. And it just really comes down to where your money mindset is and what you think you are. are worthy of. You know, previously I had placed a limit on myself and said, I can't do that level of deal because I can't, which is not even logical. That sentence doesn't even make sense, you know? And, you know, recently, I don't know, it was a couple years ago now, but when I've really first

started to stretch myself, I opened up this fund. And it was a million dollar fund to start with. And I was already, I started to think after that by saying, so what about the $50 million deal? If I could add a zero to that fund, then what would happen? And then shortly after I opened it, you know, I was already starting to think, well, gosh, if I did that, what would prevent me from just adding another zero on to the size of that fund? So that's basically what's next where I'm headed and I just kind of try to put it in perspective and think how, you know, say a Bill Gates or a Donald Trump. Like they probably don't think anything of a $50 million deal, right? I mean, that's nothing to them. That's probably their $50,000 deal what is to us or was

to us at some point, depending on where you are. And, you know, to them, it's just, that's not that big of a deal. And if you start thinking that way too, you're going to start seeing a much bigger and better bottom line. You know, two quotes that come to mind when I start thinking about this. And I have to force myself to think about this all the time because we're human beings and we're wired the way that we're wired. And sometimes we just have to wake up and be present and stay conscious of what we're up to and stay conscious of what people so far ahead of us are up to as well.

You know, this one from, this one quote from Chris Rock in his Never Scared Special. And he was discussing the difference between rich and wealthy. and when I share this quote with you, just kind of listen to this quote through the ears of small deals and big deals. He had said something like, Oprah is rich. Bill Gates is wealthy.

If Bill Gates woke up tomorrow with Oprah's money, he'd jump out of a window and slit his throat on the way down saying, I can't even put gas in my plane. The point being here, whatever financial challenges, obstacles, opportunities that you're

you're currently dealing with, understand it's child's play to someone else. So if it's child's play to someone else, why can't it be child's play to you? You know, another quote, but I'm not sure of the source of this. I tried to look it up, and I can't even really remember exactly where I heard it, and I'm not even sure if I have it verbatim, but it's a really good one. And it causes me to really look inside myself sometimes, but it's this. It's because of your results, you're playing small because of your results. You got that?

Because of your results, you're playing small, because of your results. You know, playing small, thinking small, that can be perpetual. It can be self-fulfilling. It can really slow you down if you're not conscious of what's really going on. And it can slow you down significantly over the long run if you never wake up. You know, one of my students, he was, I mean, I love all my students, this particular student was such a pleasure to work with because he played big. It was fun to be around him. And in fact, you know, when he approached me originally to become a student, to become a client of Epic,

he had said, you know, I'm not really interested in hiring you as a coach. I don't really think I need a coach. And I don't really need your systems. I kind of got all my stuff together. I got everything in place. But I would like to hire you as my CEO. And no prospective student to date has ever remotely said anything like that to me. And so we talked a little bit and after a little bit of back and forth and kind of exploring as to what that would look like, I became his virtual CEO, of which has become a service that we now offer. And what we did is we sat down in front of a blank white board. And we did this on a few occasions and identified where he wanted to go because he was thinking big and he says, I got to get over there. And so then we

we identified and looked at where are you right now? And then what we did is we kind of created this little bridge from where you are right now to where you want to be. And then right in the middle, we started listing all of the potential obstacles and challenges that could get in his way. And what we did is once we had just kind of did a brain dump and flushed out all of those potential challenges and those fears and then those realities. And because some of the things were tangible that could place limitations or slow him down from getting where he wanted to be. We went ahead and we created an execution plan for each one of those obstacles. And systematically, he was able to execute those execution plans and eliminate each one of them,

just pluck them off one by one. And in 18 months, he built a cash flowing portfolio of 85 properties. Now, he has since retired from real estate. but he hasn't retired his big thinking though, because he's still thinking big and he's thinking bigger as he's on a mission now to build a multi-million dollar software company. And get this, it's all being funded by his real estate portfolio. And, you know, he thought big, he continues to do so, and again,

he reached out to me for some help to help him build his new company. Now, I know nothing about the software as a service industry, not a darn thing. sounds cool. It sounds kind of like the magic dream of set it and forget it and money just flows in like clockwork type business. But I really don't know anything about it. But the process that we use to build his real estate empire, it'll work on this as well. It'll work on anything.

So we're working together again. The point being, or the question to ask yourself, rather, am I thinking as big as I could? Are you thinking as big as you could be thinking? and that reminds me of something else actually several years ago. I had the privilege of interviewing Season 2's winner of The Apprentice. And this was on the Do Over podcast, the original podcast that gave birth to this one. But I got to interview, gosh, his name escapes me. It'll come to me probably after I stop recording.

But he was the winner of The Apprentice, you know, Donald Trump's old show, before he got all the celebrities and everybody on it. And so he won season two. And one of the questions I had asked him was, in that interview, what was your biggest takeaway working with Donald Trump? And he said, you know what? I get asked that question a lot and my answer is always the same. It hasn't really wavered because I've had a lot of time to think about it. But it was really remarkable about how every time someone on Trump's staff or his employees or as part of his team or just anybody in the room when they were discussing ideas, anytime somebody threw out an idea, he almost always asked,

okay, that's interesting, that's good, but how can we do it bigger? And then an answer would come about. He says, okay, that's good. This is starting to look better. But how could we do it bigger? And like he would continue to ask that question until people were just like, I don't know. And then he'd put something else on top of it. So that's what he took away from him.

It was just like, wow, that's his process for developing an idea and making the decision on which ones he wants to pursue. Now, regarding Trump, love him or hate him, you can't deny that he's accomplished really big things. I mean, shoot, he's the president of the United States, for Christ's sake. I mean, that's darn near one of the bigger things that you can accomplish in this country. And so, really, what I want you to get from this, though, is how could you apply that question to what you are up to? How can you do it bigger? Ask yourself, how can I do this bigger?

And once you got an answer, then maybe ask again. But how could I do it even bigger? You know, Scott Duffy, a good friend of mine, and he was a former business coach of mine, and we became friends as we worked together, and he was also a past guest on the Do Over Podcast. He worked for a year with Richard Branson. He actually sold a little private jet company to Richard Branson. It was kind of like similar, I guess, to Uber, but with jets, but like, I don't know,

it was like 12 years ago. It was a really original idea. But he worked with Richard Branson for a year doing that, and, And he has so many stories about that year. I mean, he just, like, can talk forever about all the different experiences and and the conversations that he was privy to or when he was around Richard. And so many of those stories have to do with how big Richard thinks. I mean, during that time, Branson was trying to buy the rainforest.

He was like, well, I can go ahead and put an end to this global warming thing. We just need to control the rainforest if that's what's protecting the rainforest. if that's what's protecting the climate or protecting, you know, the weather, however that works. And he was like trying to buy the rainforest. I mean, where would you even start, right? Well, a pretty good starting point, which most of us, probably all of us, wouldn't miss entirely, as we wouldn't even have come up with the idea. Like, buying the rainforest, we couldn't even fathom that.

I still can't really. And as most people can't and most people won't. So when you start thinking along those lines of business titans like a Trump or a Branson or Gates or Winfrey, it starts to make those $500,000 deals seem like pretty small potatoes, doesn't it? I mean, imagine spending time with any one of those names and how that would transform your thinking. and if it transformed your thinking, how would it transform your actions? And then how would it transform your results, right? And, you know, it is a privilege for Scott to be able to get that close to Richard Branson.

Most people don't even have that opportunity. But I don't know. Would you be down for something like that? I mean, perhaps I can make something similar, kind of outside of the ballpark, but it is certainly, it could be a similar experience to make us something like that possible. And here's what I'm talking about. I'm starting a new lead generation pilot program with Josh Miller, who I mentioned earlier, who's the big thinking client that I've had. And he's off to start his new software company to build the next seven figure, eight figure, maybe even nine figure

operation. And we're starting that on October 8th. And we're looking for a small group of people to work with to help him generate some motivated sellers at a fraction of the cost of how most go about it. And it's the very method that Josh used to start his own real estate investing business. And he retired within 18 months with 85 cash flow properties. He reached his cash flow goal. He was totally free and had a bunch of surplus. And so he says, I don't really want to do real estate anymore because I really want to be a software engineer. I really want to be a software developer.

I want a software company. So he's taken the system that he used inside of his real estate investing business. And it's pretty darn brilliant the way that he built it up. He really learned how to cut costs. and leverage technology and produce a much more efficient result and get in front of the right sellers at the right time and have more valuable conversations with them.

And he pieced this whole thing together with just my favorite expression is bubble gum and wire. But he probably used a little bit of duct tape and some band-aids and maybe some super glue here and there. But what he did is after he decided to retire, he wasn't going to do real estate anymore. and he's sitting back living off of the cash flow from his properties. He just kind of tore it all apart and then put it all back together professionally so that

anyone could duplicate his results because in its former state, it was really only he that was the one that understood it because he put it together and he thought it would be really difficult to teach someone to use it in the form that he had had it. So he broke it apart, put it back together so it would be more intuitive that anyone could use it and duplicate the type of results that he was able to create. And he's going to be releasing that at the top of the year, probably first quarter 2020. But he wants to take some people through it first and create some amazing case studies with it in the interim just to prove that he wasn't this unicorn, that he wasn't special.

Because he wasn't a salesman. He was an engineer. He didn't have like a gift for gab and he had no real estate experience. He'd flipped a couple properties to that, but that was it. And so he doesn't think he's anything special, but he just wants to confirm that and take some people through it. and if you would like to do that and you can agree to these five things, then I can open this invitation up to you and allow you a sneak peek and not only a sneak peek, but a sneak test drive and put some money in your pocket all while you are test driving.

So if you are, one, already taking action in real estate and getting some results, and two, you've closed at least one deal that wasn't your primary residence, and three, you've got time to work on two to three new deals in the month of October and probably little through November. If you are friendly and coachable and you're willing to share your feedback and give honest input and just interact with Josh and telling what you think and what's working, what's not or what can be improved, he really wants that feedback. And five, if you can keep a secret, then you can join us.

So to get all the details, text the word epic to 562-526-78-28-58. 562, 5267-8-28-28. And you'll receive all the details. And then you can decide whether or not it's something you want to pursue. And one thing that we're going to be doing is we're going to be spending a lot of one-on-one time with the participants because we really want to be engaged with them to see to it that they get the great results that Josh got. Translation, you closing a few extra deals in the next 30 to 45 days or so. So we're getting started on October 8th. and hopefully you're listening to this before October 8th. If you're listening to it after October 8th,

you can still text that number, or text that word, Epic, to 562-526-78-28. And we can put you on the wait list because he will have an early bird notification of its official launch. He's going to release it right here inside of the Epic community first before he makes it available to the world. But before we even do that,

we're going to take this small little group here through the process. You're going to have Josh's attention, one-on-one attention in his one-on-one tutorials. And yeah, we're going to make some money. And that's the whole goal. So if you want to get it on that text, Epic 2-562-526-7-8-2828. In closing, the people who think big are going to end up with your dreams. It's no more difficult to think big than it is to think small. So when given the option, think big.

That's it for today. God bless to your success. I'm Matt Terrio. Living the Dream. Take out.