Epic Real Estate Investing - Where the Grass is Greener | 740

Episode Date: August 10, 2019

When it comes to real estate and market selection, it isn’t important where you live. Matt reminds us of this subject by playing an old cassette recording of all-time greats, Earl Nightingale. Take a listen to this anthological recording and find the greenest pastures for your real estate investing! 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-A's.

Here's Matt. Hey, Rockstar, welcome back to the epic real estate investing show. I'm still getting situated in my new office. I'm really missing my microphone. As soon as I find it, it's in one of these boxes scattered around my office. Then we'll be back up to regular audio quality. But I listen back to this and it sounds okay. But what I want to talk about today and focus on is choosing a market.

And the subject has come up recently. And it continues to come up over and over and over again because I interact with a lot of people just getting their start. But from the last Epic Intensive, we had several people decided to become members of the REIACE program and have us just kind of set up their business and do everything for them. And I've been taking a lot of these onboarding phone calls and going through people's goals and going through their plans, going through their resources, and just kind of formulating this custom strategy that we're going to implement

so they can get the success that they want out of real estate. And one subject that keeps coming up over and over and over again is market, selection. And it's just amazing how everybody thinks that they are at such a disadvantage because of where they live. And it's just, it's a ridiculous notion because if everybody thinks that, how are so many people succeeding in real estate? Even people in the market that they are in. And we've talked about that several times or repeatedly over the years here on the Epic Real Estate Investing Show. And some of these new RIAEAS members are even longtime listeners of the podcast. And they still had to be reminded around this one subject. And so what I wanted to do today, and I've done this before,

it's been a while, but I wanted to do it again, is play you a recording. This was my very first exposure ever to anything personal development. In fact, it was so old that I was actually listening to it on a cassette tape. My car back then actually had a cassette tape player. I know some of you don't even know what a cassette tape is, but it's just, let's just say it's old. And this comes from one of the all-time greats in personal development, certainly one of the four. front leaders. And his name is Earl Nightingale. And this came from a program called Lead the Field. And I've heard this reference so many different times since I heard it the first time. I don't even know if this, where I heard it, is the original recording or the original concept of it. But it's

where I heard it first. And I wanted to share it with you again today because I want to help you find the greenest pastures there are for your real estate investing. All right? Enjoy. In the year 1843, a man was born who was to have a provostation. found effect upon the lives of millions of people. His name was Russell Herman Conwell. He became a lawyer, then a newspaper editor, and finally a clergyman. It was during his church career that an incident occurred which was to change his life and the lives of countless others. One day a group of young people came to Dr. Conwell at his church and asked him if he'd be willing to instruct them in college courses. They all wanted a college education but lacked their money to pay for it.

He told them to let him think about it and come back in a few days. After they left, an idea began to form in Dr. Conwell's mind. He asked himself, Why couldn't there be a fine college for poor but deserving young people? And before very long, the idea consumed him. Why not indeed? It was a project worthy of 100% dedication, complete commitment,

and almost single-handedly Dr. Conwell raised several million dollars with which he founded Temple University, today one of the country's leading schools. He raised the money by giving more than 6,000 lectures all over the country, and in each one of them he told a story called Acres of Diamonds. It was a true story, which had affected him very deeply, and it had the same effect on his audiences. The money he needed to build the college came pouring in. The story was the account of an African farmer who heard tales about other farmers who had made millions by discovering diamond mines. These tales so excited the farmer that he could hardly wait to sell his farm and go prospecting for diamonds himself.

So he sold the farm, and spent the rest of his life wandering the African continent searching unsuccessfully for the gleaming gems which brought such high prices on the markets of the world. Finally, the story goes, worn out and in a fit of despondency, he threw himself into a river and drowned. Meanwhile, back at the ranch, or farm in this case, the man who had bought his farm happened to be crossing the small stream on the property when suddenly there was a bright flash of blue and red light from the stream bottom. He bent down, picked up the stone, it was a good-sized stone, and admiring it, later put it on his fireplace mantle as an interesting curiosity. Several weeks later, a visitor picked up the stone, looked closely at it,

hefted it in his hand and nearly fainted. He asked the farmer if he knew what he'd found. When the farmer said no, that he thought it was a piece of crystal, the visitor told him he had found one of the largest diamonds ever discovered. While the farmer had trouble believing that, he told the man that his creek was full of such stones, not as large perhaps as the one on the mantle, but, well, they were sprinkled generously throughout the creek bottom.

Needless to say, the farm the first farmer had sold so that he might find a diamond mine turned out to be the most productive diamond mine on the entire African continent. The first farmer had owned, free and clear, acres of diamonds, but had sold them for practically nothing in order to look for them elsewhere.

Well, the moral is clear if the first farmer had only taken the time to study and prepare himself, to learn what diamonds looked like in their rough state, and since he had already owned a piece of the African continent, to thoroughly explore the property he had before looking elsewhere, all of his wildest dreams would have come true. Now, the thing about this story that so profoundly affected Dr. Conwell

and subsequently millions of others was the idea that each of us is at this moment standing in the middle of his or her own acres of diamonds. If we'll only have the wisdom and patience to intelligently and effectively explore work in which we're now engaged to explore ourselves, we'll usually find the riches we seek, whether they be financial or intangible or both. Before we go running off to what we think are greener pastures, let's make sure that our own is not just as greener, perhaps even greener. It's

been said that if the other guy's pasture appears to be greener than ours, it's quite possible that it's getting better care. Besides, while we're looking at other pastures, other people are looking at ours.