Epic Real Estate Investing - When to Quit Real Estate | 837

Episode Date: November 15, 2019

When is time to quit real estate if you are not getting your desired results? If you are more interested than committed to real estate, then, maybe it’s time to quit and there are 4 reasons as to why. Tune in and find out more! 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. Okay, so today we're going to talk about real estate investing as a business. And the main thing we're going to focus on is if you should continue or give up. When to quit is the big question today. So when is it time to quit if you're not getting your desired results or when should you just put your head down and persevere? I am Matt Terrio, CEO of Epic Real Estate. When it comes to succeeding in real estate, we all know we need to take action. but a huge thing that holds people back is their lack of early results.

You know, people tend to get discouraged very easily and quickly if they're not making money right away. And I get it all the time. People are worried about real estate investing not working out for them. And it makes sense, you know, because it can be pretty challenging. But here's the thing. It's not whether or not real estate is going to work or not. As much as it is if they are going to put in the work or not. Here, this is what I frequently see.

A lot of successful entrepreneurs start off building their real estate, business on the side. Doing it this way gives you the opportunity to make some money and then just kind of bridge that gap from the day job to entrepreneur without taking a whole lot of risk. And you know, and some make it and some don't. And I've recognized a significant difference between those that do and those that don't. And that difference lies in being interested versus being committed to their real estate investing success. You see, you can have a full-time job and still be committed to building your real estate investing business. Work your day job during the day, and then just kind of reserve the nights and the weekends for your real estate.

You can be committed to both. And some people think that 100% commitment means they have to quit their job and go all in on their real estate in order to succeed. It's just not true. And it's this false belief that actually keeps many people from ever getting started. Being committed means that you are playing all out in real estate on the side when you're working on it, in your available time. Being interested means you're going to give it a shot and you might try some of this,

you might try some of that, and you leave the hard. harder things for, you know, someday later. The problem is that someday never really comes because you've basically quit before you ever began and you don't even realize it. You see, it's the hard stuff that actually makes the money. And operating like this, it says that you are interested in trying to be successful. But if anything comes up that's uncomfortable, you might change your mind. Being interested in real estate, that's a really dangerous place to be. And when you realize that you're more interested than committed, it may be time to quit. And there are four reasons as to Why? Reason number one, that it may be time to quit. The only way to succeed in a real estate

investing business is if you are 100% committed. Anything less than that will eventually lead to disappointment. Because people, they've got a misconception that if they do some of the work, they'll get some of the results. And it doesn't work that way. You need to do 100% of the things it takes to create success. And it doesn't have a sliding scale based on the items you do or don't do. Doing half the work does not mathematically equate to getting half the results. If you're half-stepping and you don't see yourself taking full steps and taking full steps consistently with persistence, it may be time to quit. Reason number two, it may be time to quit.

When you lack 100% commitment, doors that would normally open for you, they just won't. In fact, being merely interested, you won't even see all of the possibilities because a subconscious message, you know, it's running in the background, giving you the okay to scale back, to skip over things, and to avoid the hard stuff. The good fortune, the best doors open up on the other side of the hard work. Being interested keeps you on the wrong side of opportunity. It keeps those doors shut. Right?

So reason number three, it may be time to quit. Being interested, it repels successful relationships. And it repels those would-be mentors. Successful and ambitious people, they steer away from the interested because of their lack of commitment. You know, most successful people are successful because of their competitive drive. And they view others who exhibit signs of laziness, who dabble, who do that. don't follow through as really more of a waste of time for them than anything.

So if you're genuinely trying to connect with go-getters and the doers, as you should be, considering it's one of the bigger shortcuts you'll ever find, you don't necessarily have to be at their level, but you should make sure that you are at the highest level of commitment. This attracts the successful people. This will motivate them to associate with you and help you. Reason number four, it may be time to quit. The real estate interested, they get derailed by the smallest of hurdles and challenges.

You know, small bumps in the road tend to stop you dead in your tracks. And the reason is, again, you've got these subconscious messages running in the back of your mind and giving you excuses to skip the essential activities. And when you skip stuff, you get disappointment around your results. And the interested can only handle so much disappointment. When you're 100% committed to winning in real estate, those hurdles and the small bumps, there are nothing more than just minor inconveniences that you simply just step over. For example, a couple of private clients of mine, Tony and Cindy.

Tony, Cindy, can you come up on stage with me for a second? We've been working together for a little over a year. We're in communication regularly. Before we met, what challenge were you trying to overcome? Well, before we met, I didn't know anything about the investor world and discovered you in a podcast like many people and mentioned to Cindy that this guy seems very genuine, very real. So I got hooked on your podcast and signed up for an intensive.

was interested in starting to invest in real estate but really needed the path. When I started working with them, it was a while back, they've acquired over 30 properties since. We've been working together. I think it's about about 18 months or so. And the look on Tony's face when I asked Cindy at a recent Epic intensive how business was going. Here we are. I don't know, 13 months later, what does your business look like today?

It's good. Anyone within 10 feet of him could feel the pride shining. on his face. Now, this couple, they're a power couple, but they didn't start out that way. After originally stumbling across one of my podcast episodes and attending an epic intensive, Tony decided that he would go ahead and dip his toe in the water and try some of our other training. But after a while, Tony and Cindy, they came to a crossroad. Are we going to do this for real, or are we going to keep dabbling? Can you finish the sentence for me? I almost did not work with Epic because...

I almost did not work with Epic because there was money involved, and I'm a real cheap skate. And I thought, heck, I was 38 years in banking. I can figure this thing out on my own. And Cindy convinced me, just do it. Take the money and do it. It really, I can tell you, it paid off immensely, exponentially. Because it's not how much it costs you. It's how much it makes you.

That's awesome. It's not what it costs you, but what it makes you. And they were all in. They came out to my office and we built a plan for them, one that they just knew in their gut that was right for them. We put the tools, the tech, the support in place so they could work the plan, custom built for just them. And, well, 30 properties later, it's working out. They've got a plan that works for them.

They can travel and create all the quality experiences missed in the typical corporate life. And for the season of life that they're in, create a legacy, an example for their kids to follow. All righty? I'll see you next time. Take care. 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 boy, we got the cash flow. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.