Epic Real Estate Investing - What Successful Real Estate Investors Do | 1019

Episode Date: May 15, 2020

Real estate investing made more millionaires and billionaires than any other investment vehicle on the planet! Therefore, Matt pooled a group of his friends and very successful real estate investors asking them what successful real estate investors do that unsuccessful ones don’t. Tune in and find out their answers! Learn more about your ad choices. Visit megaphone.fm/adchoices

Real estate, it's the final frontier where the average person has a legitimate shot at creating epic wealth. It's made more millionaires and billionaires than any other single industry or investment vehicle on the planet. And it was that information that motivated me to get involved in real estate. And real estate, it delivered. I can make this a reality for you too. That is the goal today. You see, when I got out of the Marine Corps, I spent the next 15 years of my life in the music business, and I made my million before the age of 30.

But then this thing called the digital download came along and just destroyed the music store and turned the whole industry upside down. And that put me out of business really fast. At the age of 34 in six very short months, I was bankrupt, I was divorced, and I was bagging groceries. I literally went from a seven figure year to $7 an hour. I knew I had to learn something new at that point. And so I chose the one thing that gave me the greatest possibility of getting my money back. And it represents your greatest chance at getting yours too. But people still fail miserably at it. So what is it that separates those that fail from those that succeed? So I pulled together a group of friends. You may recognize a few, as they are all very successful real estate investors as well as educators. And so

I ask them, what is it that successful real estate investors do, that unsuccessful ones don't? I think you'll find their answers very motivating and actionable. Let's do it. 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-a-a-a-ac.com. Here's Matt. Hi, my name is Matt Terrio. I am CEO of Epic Real Estate, where we show people how to invest in real estate with an emphasis on retiring early. I recently pulled some of the nation's top real estate investors and educators together to ask them this question. What is it that successful real estate investors do, that unsuccessful ones don't? We take action every day. Every day. We study, we apply. We study, we apply. We study, we apply. We don't study, study, study, study, and hope it works. It's not the hope business. This is the dupe. business. Successful real estate investors, they market their business and they're looking to help people versus check chasing. Always look forward to helping someone and you'll never go broke.

Successful real estate investors have an attitude of progress, not perfection. So they keep trying all the time and they're making the most mistakes. Robert Kiyosaki said that to me directly. He said, if you're not rich yet, it's because you haven't made enough mistakes yet. Absolutely key is go out there and make a ton of mistakes. Successful real estate investors, keep going. There's going to be ups, there's going to be downs, there's going to be nights where you're crying on the kitchen floor uncontrollably. But there's also those moments where you're jumping up and down and crying happy tears. So you have to keep going. Don't listen to all crap everybody tells them trying to get broke people to teach you how to make you rich. You'd be very careful to whom you listen. You want to take advice, take it from somebody that's already done it.

Be careful to whom you listen, even if they have initials after their name because that doesn't mean anything to me except they passed a test. Not only do you have to pick the right people to learn from, pick the people who've done it and can prove it. They keep working at it. They don't give up. It seems like it's such an easy thing and then when times get tough, you just, you know, people fall off or people want to educate and never take action, but you have to keep taking action. Stay with it. Successful real estate investors, I think, are able to adapt. They're able to focus on what they're working on right now, not 10 different things, but one or two core things that they could be the best at, while still keeping it. that while still keeping an eye out in the horizon to make sure that things are not shifting.

And in the end, they're going to be caught in a bad situation. They're consistent. It's always about relentless forward motion. One thing that I see newer investors always struggle with is consistency. It's a momentum business, right? So if you're not building momentum, you're not going to go anywhere. And consistency leaves super momentum. I truly believe that the difference between truly successful people and unsuccessful people,

even massively successful people versus moderately successful people, self-awareness. I think you have to know what you are really good at. What's your genius zone? What are you really good at? And make sure that the vast majority of your time is spent in your genius zone. Don't convince yourself that you do everything well because you don't. Figure out what your genius zone is and stick to it. We actually do the work. You know, I always tell people this is not, we're not performing rocket science. We're not performing brain surgery, but you have to have to perform and I'll tell you I think most of us have the exact same story we get in we have bad things happen but somehow we persevere we hang on so the successful guys they hang on long

enough for success to happen I've always said you know we're not in the real estate investing business we're in the marketing business and the best real estate investors out there they're marketers first who do real estate they're not real estate investors who do marketing they're marketers first it's a priority in their business every penny that comes in 10 15 20 percent into marketing. They're always making offers and they're relentless with it. They never stop. They never slow down. Successful real estate investors don't quit. Unsuccessful individuals, whether investors or whatever, feel they're in. They hear a no and they allow that no to discourage them. Whereas a successful real estate investor will hear a no or hear an offer rejection

and allow that rejection or that no to fuel them to go after the yes, regardless of how many doors or phone calls it takes to get to that yes, our nose, our rejections fuel us to keep going. So successful real estate investors focus on building the business, putting the team in place, putting the systems and processes in place. We all get into this business for freedom of our time and financial freedom. And if you're doing anything other than that, you have simply just have a job. The thing that successful real estate investors do that unsuccessful investors don't, it really blows down, I think, to consistency. They work on their mindset every single day and they make offers every single day.

Successful real estate investors look at their business as a business. They don't look at it as a one and done or occasional type business or a hobby. They look at it as a business. And so they set up the tools, the training, the technology, and the systems so that there can be a flow of leads. There can be a flow of deals and it supports the business. What I look at is a couple words called behavioral congruency. Behavioral congruency is looking at behaviors of successful real estate investors and how we can be congruent with those behaviors.

Successful real estate investors have a consistent marketing plan irregardless of the results. They are deploying marketing every single week and you're getting leads coming in, you're making written offers and then you're essentially getting contracts. If you have consistent marketing coming in, you're going to have consistent opportunities. If you do that coupled with follow up, then you can't lose because that's going to create momentum, which is, going to create more deals, which is going to create the ability to reinvest back in your marketing. I suggest 15 to 25% back into marketing, which creates bigger marketing budgets, which creates scale, which allows you to hire and all sorts of things. Okay, this is a big secret.

Hashtag they just do it. They don't think about it. They do it. When you do the actions, a surprising thing happens. It works. You make money. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow.

Yeah, yeah, we got the cash flow. You didn't know home world, we got to dash low. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.