Epic Real Estate Investing - To Have, or Have Not? What's the Difference? | 828

Episode Date: November 6, 2019

This Way Back Wednesday, the "Do Over" Guy reveals the recipe for success and it is the use of this recipe that separates the "haves" and "have nots." Take a listen and find out Matt’s secret sauce! 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-I-Aase.com.

Here's Matt. Hey, Matt here. Welcome to another episode of the Epic Real Estate Investing Show. It is way back Wednesday. This is the day where we reach back into the archives and pull out old classic episodes. And we've been reaching back into the archives of the Doover Podcast, the podcast that started it all. And I got another great one for you today. Enjoy.

During an era where countless people, businesses, and organizations are feeling the pinch, running out of time, running out of money, losing confidence, feeling as if life is unfair, praying for another chance, and unless something is done, life is going to pass them by. Fortunately, in the nick of time, there is now a place where the ignored, underestimated, and unknown steps to producing results, and making life work are revealed. Save your career. Save your business. Save your health.

Save your relationships. Save your life. Get from where you are to where you want to be, faster and with greater ease than you ever thought possible. Say hello to your do-over. Welcome to Your Do-Over, coming to you live from downtown Los Angeles, and this is the place where I show people who want more out of life, people dissatisfied with their current situation,

how to start over and begin a new life, setting goals and objectives so they can create wealth and live life to the fullest. You can jumpstart your Do-over and lay a solid foundation, for a better life by downloading the three pillars of creating the ultimate do-over for free at free do-over.com. It's a 55-minute MP3 audio program that I made just for you with three specific steps on how to get success as you start over. The three pillars of creating the ultimate do-over will put the legs under your table.

They will lay the foundation for you to achieve. They will act as your traveling success coach, and they are yours for free at freedover.com. So the question of the day, how are you going to live? the next 10 years of your life. And specifically, for the purpose of today, what are you going to decide to do? You see, 10 years from now will surely arrive. So the question is, where do you want to be when it does?

What will life be like for you in 10 years? What will you have accomplished? Where will you have made a difference for others? Who will you have become? You know, depending on how you look at it, I mean, it could be a very exciting truth for you, or it could be a very painful truth, in the sense that the next 10 years is going to pass whether you make a conscious decision on what they'll look like or not.

So would it make sense to decide what it will be? You know, the most powerful force we have at our disposal to shape our lives, it's the actions we take. The difference in what your life will look like after a decade and the life of any other person will essentially come down to the different actions you have. taken. It's very simple. Different actions produce different results and different actions performed consistently produce different lives. Every action puts a cause in motion and that causes effect it builds on past effects of which move us in a definite direction. So in result, if we want to

dictate what the next 10 years will look like, if you want to control where you'll be after 10 years have passed, you will have to take control of your actions. And it's not what we do every once in a while, not every action that we take every once in a while that will. It's what we do consistently. It's the actions we take consistently that will. Now, if you've been listening to this podcast for any length of time, I mean, that should be an obvious conclusion. Nothing happens until something moves. And when that movement is controlled and it happens consistently, progress is made. So now the question would be,

what precedes the actions that we take? You know, it's been implied from the very beginning of this episode. It's the father of action, decision. And like action, it's not just one decision, but it's the consistent decisions we make that will shape how we feel today as who we will become along the way. You know, as you look back on the last decade,

I mean, can you see pivotal decisions that you made that determined how the decade turned out? I mean, can you see if you would have just taken a right turn or a left turn, your life, as you know it right now, would be completely different. I mean, I certainly can. I can see actually quite a few. Or if you would have just said yes, instead of no, you probably wouldn't be dealing with what you're dealing with right now. And as I've always said, it's never too late to be who you might have become, to do what you might have done, to have done, to have. have what you might have had. It's merely a decision away. All of that is just a decision away. And I'm sure you, as I, know there are people born with advantages in life. You know people who have had family advantages, environmental advantages, and genetic advantages. As well, you've also heard

countless stories of people who have all the chips stacked against them and somehow they manage to break through and they break through in a way that exceeds the expectations of everyone around them. oftentimes they exceed the limits of those with the advantages, all because one day they made a decision. And if you choose not to make a decision about how the next 10 years will look for you, where you'll be after the next 10 years have passed, then you already have made a decision, haven't you?

Indecision is also a decision. So what makes a decision so powerful then? I mean, is it really that simple? Just decide and you're done? well, actually, there's an extra element, or an extra ingredient, if you will. There's an extra ingredient required in the Decide and You Will succeed recipe. And that extra ingredient is commitment. It's commitment that moves dreams from imaginary to reality.

Now, I know the word commitment is a word of which that can cause a quick stop play on the iPod. I mean, if you think it's easy to live your dream, to turn your dreams into reality, you might as well just hit the stop button and go back to building other people's dreams. And what you know, that really ain't easy either, is it? So if the two roads ahead are paved with effort, wouldn't it make sense to choose the road that delivers you to your dreams?

I mean, that word dream, it's always had somewhat of a cheesy sound to me, and I really just can't find another word. But to what I'm referring is anything but cheese. We're talking about your life. So whether you consciously choose to decide or not, you have decided. Now, what to do with that decision? Are you committed to it or are you merely interested in it? You may think you're committed to it.

A lot of people think they're committed, only to find out later on that they were merely interested. There is a profound difference between interest and commitment. You see, an interested person will read a book. A committed person will apply. what they read. An interested person will plan the work. We all love to plan, but a committed person will work the plan. We don't all love to work. An interested person takes action on the days that they feel like it. A committed person makes no excuses and takes action on the days they don't feel like it to. A committed person will forego TV time, will forego looking the part,

will forego the fancy apartment, will forego eating out, will forego many of life's luxuries, if not all of them. A committed person will forego all of these things knowing that all of these things await their arrival. The life of a committed person can be very uncomfortable, very uncomfortable at first, but those that choose discomfort first end up comfortable. Conversely, the same is true. It's a decision backed by a commitment that separates the haves and the have-nots. To have what most people want being their dreams, everybody wants their dreams, you have to do what most people won't, being decide and commit. Most people do not decide and commit. So, how bad do you want it?

What are you willing to do to get it? You know, the rags to riches stories of people like Jim Carrey or Chris Gardner of which the movie Pursuit of Happiness was based on, or Oprah Winfrey, I'll keep it simple. They all started with a decision, and that decision was backed by a commitment. relentless commitment. You know, if we decide to, you and I can make our lives one of these inspiring examples. You know, I remember the day my entire life changed. And it changed in just one day.

The day I determined not just what I wanted to become, but the day I decided to commit to becoming that person. There's a subtle difference there, but the difference is profound. You know, up until then, I had reasons. I had excuses. You know, after almost a decade of prosperity in the music business, of which was literally, you know, almost yanked right out from underneath me by way of the digital download, emerging technologies, I had all types of reasons and excuses as to why at that moment that when I was bagging groceries and I had every belief that I might as well just get used to it. This is where I'm destined to be. This is what happens to people that forego college and chase their dreams.

You know, I had my shot and I blew it. I'll never get another chance like that again. That was my mindset. I mean, that was my mindset as I was standing at the end of the checkout line, mumbling with my head hanging low, how are you today, ma'am? Paper or plastic. Then there was a moment.

A moment of where a lady in the checkout line opened up her wallet to pay her grocery bill. And out of her wallet dropped an ATM receipt. And I tried not to make it too obvious, but I did look out of my peripheral vision. I took a glance, $256,000 in her checking account. And my heart, it literally dropped right through my stomach, right down to my feet. Because that amount, that amount had a significance to me.

$256,000 had extreme significance to me, as it was precisely the amount of my highest check balance ever. I mean, at a time, just 29 years old, when the music business was, was treating me really well, life was great, I thought nothing was going to get in my way, it was full steam ahead. You know, seeing that number on her ATM receipt brought it all back, but it brought it all back in a way that I believed I was never going to experience that again. And it caused me to literally excuse myself. I walked off the supermarket floor. I went out to the parking lot to my car, I sat in my car, and I cried. I cried. I almost felt like throwing up.

I was age 34 at that time, and I thought that was it. You know, and as I composed myself, I made a decision. Forget this. I actually didn't use the word forget, but you get the picture. No more. I'm going to figure this out and get back there, and nothing is going to get in my way. I mean, it was in a moment. I made a decision.

I remember it so clearly. I made a decision, and I made a commitment to that decision. And within a week, I was no longer working at the grocery store and I was traveling the road of my do-over. All that to merely show, I made a decision and it was in a moment. It was in an instant. And that decision altered the course of my life forever. You know, and as I look back, I wonder, why did I work at that grocery store for six months? I mean, what was my problem?

Why did I get up and go to work bagging groceries every day? Well, first, I had a pretty low self-esteem at that point, and after almost a year of job searching to no avail, I mean almost a year of getting the door slammed in my face, not literally, but figuratively. After watching how powerless my resume was, I believed bag and groceries was all I was really qualified for. A year of rejection like that can really condition you into a place of darkness, a place of ultra-low self-esteem, which is what I had. And second, I thought I had to go there. I got bills, right? I had to go to work every day. I mean, it's almost comical looking back.

I mean, comical in a way of when you smack your funny bone on the counter. I mean, it hurts really bad, but you can't help it laugh, right? I mean, can you look back on something where life was so serious? Life seemed so serious. I mean, maybe it even seemed hopeless. And when you look back, you wonder, what in the hell was I so stressed out about? And that's how I perceive my grocery bagging days.

I mean, it's hilarious. It's hilarious because I know now. I mean, I really know that there is very little in this country that we have to do. There's virtually nothing. You certainly don't have to go to work. Not in America, not in the land of opportunity. And even more, there's no particular place or location you have to work. And you certainly don't have to do what you've been doing the last 10 years either.

You can decide that the next 10 will be there. different. And for them to be different, you will have to do something different. So if you don't like how the last 10 years played out, if you want the next 10 years to be the best ever, and you know all you have to do is to decide to make them better, let me ask you, when would now be a good time to decide? I don't know. You know your situation better than I do. But are you making excuses? Do you have reasons? Because you can literally make a decision and in an instant completely turn your life around. So your homework for today is to answer these questions.

First, who will I be? What will I be doing? And what will I have in 10 years from right now? Who will I be? What will I be doing? And what will I have in 10 years from right now? I want you to answer that question. question, and there's three parts to that question. I want you to answer all three parts. Who will I be?

What will I be doing? And what will I have in 10 years from right now? Second question, what action can I take right now that will point me in that direction? What action can I take right now that will point me in that direction? Third question, what actions can I take consistently of which one? assure that I get there? What actions can I take consistently of which will assure that I get there? There's only one rule in this exercise. The answer, I don't know, not allowed. Disqualified.

The answer I don't know doesn't get you through the exercise. And we know how to use our brain, right? We ask it questions. And we know our brain will answer any question we ask of it. So if your answer really is, I don't know. Your next question, if I did know, what would the answer be? And write it down. If I did know, what would the answer be?

Answer those questions, decide to take action, and commit to that decision. Okay? So that's it for today. Oh, before I go, I've got a quick announcement for you. After the phone interview with Chris Crone of REIC Global from last episode, He had asked me, when do I intend to purchase my REIC membership? And I responded with, I'm not sure. I was thinking about it.

And they asked me why. And I really had to think for a minute. And I realized I didn't really have a solid reason. I mean, the entire concept of his company, it makes perfect sense to me. I've known him for a few months now. And he's a very cool guy. And I've met some of his associates at REIC. They all seem like great people.

And there hasn't been any indication that REIC isn't on the up and up. then he asked me, you know, he's a real good practitioner of questions, by the way, but he asked me, what do you need to see here or have happened for you to make a decision to join? And again, I didn't really have a clear-cut answer because I really didn't know. And I was thinking, okay, if I did know, what would it be? And before I could come up with that answer, he had offered for me to take the REIC membership for a no-risk test drive. Now, no risk that caught my attention, and then he went on to explain how his company is rolling out a new program of where prospective members for only $397, fully refundable, no questions asked, can come out for a two-day

intensive and sit in with existing members and their coaches. So I'm taking him up on his offer, and I'm headed out to Vegas. There are other dates available, but Vegas sounded really nice, and I haven't been for a while. So I'm headed out to Vegas at the end of this month for the 25th and the 26th to take REIC for a test drive. And when I come back, I'll share my thoughts. But I also thought that this would be a great opportunity to pull the your do-over audience together and meet as many people as I can in person and introduce you to each other. I was actually contemplating a couple weeks ago, maybe you remember, I was contemplating how to do a live event or meeting where we could all come together and expand our networks with like-minded people. And based off the many emails that I've exchanged and phone conversations I've had with the listeners of this show, I think there would be great value for everyone that attended. That's just my thought, at least.

So I'm going to put it out there. If you want to meet me out there, this is what it would look like. By the way, if you have no idea what I'm talking about, it's probably because you didn't listen to the last episode, episode 36. For this to make sense, you'll want to go back and listen to it. It happens to be one of my favorites. Anyway, this is what the weekend would look like, per the agenda that Chris sent to me. On Thursday, the 25th, August 25th, the first half of the day,

you'll get to spend the morning meeting the REIC staff and many of its members, and you'll get to meticulously put together your game plan, a game plan of which will create a seven-figure equity position, meaning you'll have a net worth of seven figures, and a six-figure annual passive income. And you get to put that together, and that will all be produced in 10 years or less from a dead stop with minimal resources.

So I thought that was pretty exciting. I mean, depending on your resources, you could do it faster if you want, but 10 years is the minimum. Well, then break for lunch, and when we come back, Dan, one of the REIC instructors, is going to show us how to set up our finances in the exact same way banks set up theirs.

The way Chris explains it, how to set up the bank of you, bank of you, Y-O-U, so that you won't need a credit score to finance your real estate. And even more importantly, how your money essentially grows in two different investments, meaning he'll show you how to invest $1 in two different places, the same dollar in two different investments, yielding a return on the whole dollar in both places. And that's exactly what banks do with their money, by the way. And it's called a money velocity strategy.

That's day one. Then day two, for the better portion of the day, REIC will take us on a market and property tour. We'll go out to the field to look at real estate deals. We'll then return in the afternoon for an asset protection and management class, break for dinner and then go over partnering, how to accelerate your success through joint venturing. So I'm really looking forward to it,

and I want as many of you that can to come with me. Like I said, it's $397 fully refundable, and you can register at R EIC test drive.com. R-E-I-C-Testrive.com. And for those of you that attend, this is just for the your do-over listeners, for those of you that decide to attend, I'll be hosting a private dinner. I'm picking up the tab. It's on me on Wednesday night, the 24th.

So you'll have to come to Vegas, you know, a day early. That's never really a bad thing, right? And we can sit around, enjoy a great dinner, get to know each other. You can pick my brain as long as I can pick yours too. And that dinner is only for the listeners of this show. only for the listeners of the show. So, arrive Wednesday evening the 24th, be my guest for a private dinner, and then Thursday through Friday,

we'll together test drive the REIC membership, planning out the next decade of our lives, knowing that at the very least, we'll end this decade with a seven-figure equity position and a six-figure annual passive income. Not a bad worst-case scenario, huh? Oh, I need to disclose this. REIC does have an affiliate program that I belong to,

and I could earn a referral fee should you decide to join. However, I don't receive anything by you attending this event. Just want to keep everything on the up and up. And having said that, I'm in the same boat as you. As I've maintained, I'll never endorse anything I wouldn't use myself. So I'm going to see if REIC is for me or not. And I want you to come with me to see if it's for you. And also, I want to meet you and I want to break bread together.

So go to reicestrive.com to reserve your seat. And I'll see you in Vegas where we'll grub and grow rich together. That's it for today. God loves you, and so do I. I am Matt, the do-over guy, and I will see you on the next episode of your do-over. Thank you for tuning in to your do-over, where the ignored, underestimated, and unknown steps to producing results and making life work are revealed. And remember, knowledge is potential power.

Take action on what you learned today. This is not your learn-over. It's your do-over. To view the resources referenced in today's show and to retrieve a complete show transcript, visit www. www. Thedover guy.com. Stay connected with Matt the doover guy Terrio on Twitter at the doover guy and on Facebook at

www. Facebook.com slash doover guru. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com. Thank you.