Epic Real Estate Investing - Why Do I Need to Learn How to Wholesale if I Want to Create Passive Income? | 3rd Degree Thursday

Episode Date: January 15, 2015

Today’s 3rd Degree Thursday question comes from several of Matt’s coaching clients.  They want to know why they need to learn to wholesale if their goal is to buy and hold/fix and flip/some other exit strategy.  The answer is simple (and it might make you a ton of money!) Enjoy! ------- If you have a question, comment or concern that you’d like Matt to address live on the show, send it to him at [e-mail] and type "3rd Degree" in the subject line… or leave him a voicemail on the Epic Hotline at 1-888-891-7203.   See you tomorrow for a new episode of Financial Freedom Friday! What interests you most? E ducation P roperties I ncome C oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

Boom. Hello and welcome to another episode of Third Degree Thursday, the show where I subject myself to you, giving me the third degree. Now, today's question comes from a collective of my current coaching clients. And the question is, why do I have to learn how to wholesale if my goal is to create passive income? Now, that's, I never even thought of that. It never even occurred to me. I guess just when you, when you do something for sole. long, you just kind of make assumptions. And we know what happens when you assume, right? So I get it's a great question because it's come up more than once, actually several times.

And there's a very simple answer. And actually, if you weren't clear on this answer, it could cost you millions. So you definitely want to know the answer. And I'm going to answer that question in 30 seconds right after this. Sales pitch? Sales pitch. We don't need no stinking sales pitch. Here's the ball busting truth.

You can make excuses or you can make money, but you can't do both. Get the new free book, Epic Freedom, the two easiest and fastest strategies to a paycheck in real estate. You heard right. No sales pitch, it's free. Go to free epicbook.com. No more excuses, just real world strategies to making real money in real estate. Free epicbook.com.

Free epicbook.com. The question is, why do I have to learn how to wholesale if my goal is to create passive income and this has been asked by several of my inner circle coaching clients and and here's what most people i think they don't understand or they don't they haven't made the connection regardless if you want to be a full-time wholesaler and a lot of my clients do or you want to be a rock star fix and flipper and some of my clients want to do that or you want to be a lay back in the hammock and sip fruity drink type buy and holder and a lot of my clients want to do that the best deals though they're all found in the exact same way regardless of what you're going to do with that deal afterwards finding the deals is all done

pretty much in the same manner marketing directly to sellers you see wholesaling fix and flipping buy and holding those are all exit strategies that's what you do with the deal after you have it under contract or after you own it but what you do to get it under contract that's your acquisition strategy you need both. You need an acquisition strategy and an exit strategy. You make your money when you buy or acquire, but you don't get paid until you sell or exit. Now that we have that straight, the best deals come from direct to seller marketing. And when done consistently with persistence, that's going to generate a lot of leads for you. Now, not every lead will be a deal, and not every deal will be something that you want to hold. You know, when marketing like this,

you never know what you're going to get. Even if you're marketing directly to owners of single family residences, even if you're marketing to those of just three bedrooms and two bath, even if you're marketing to just those single family residents of three bedrooms, two bath, not to exceed a three-mile radius around your primary residence. Even if you're that focused, you still never know what you're going to get. I mean, you end up with a four-plex opportunity every once in a while in another state.

Or like Lisa this week, ended up with two 10 unit buildings as a new opportunity, something she had no idea that she would come across. And Frank, this week, he had a strip mall just kind of fall into his lap. See, you never know what you're going to get. And whatever you do get, you're not going to want all of it. But that doesn't mean that somebody else won't want it. Just because you don't want it doesn't mean there isn't a profit there to be made. So for my buy-in holders, my passive-incomeers, my cash flowers, keep the ones that you want and wholesale the ones you don't. You know, whether you want each deal or not, there's a profit to be made in every deal. So you need to learn how to wholesale

in order to maximize your marketing dollars, to offset your marketing dollars. In many cases you can completely pay for your marketing dollars and produce a profit on top of that while you're looking for just the right properties to hold you're spending good money on generating the leads so get paid for them get paid for all of them you know if you go out fishing for tuna you sit there and you fuel up your boat you got your poles in the water and you go and you start reeling in the tuna you're catching a bunch of tuna but while you're catching all the tuna you pull in a half a dozen halibut, another dozen or so red snapper, and then you pull in a bunch of mahi-mahi, well, don't throw them back. Keep the tuna for you and your family. That's what you went out there for.

So keep the tuna for yourself. Then take the halibut, take the red snapper, take the mahi-mahi, take that all back to shore, back to the dock, and go to the fish market with it and sell it. And offset your fuel costs. Maybe make a payment or two on your boat as well. And then you take the family on a weekend getaway with what's left over. Make sense? Cool. So I'm getting on a plane in about 12 hours and headed to San Francisco. Looking forward to meeting y'all at Grub and Grow Rich.

A lot of you signed up. I can't wait to meet you at Saturday, January 17th in San Francisco. There are still some tickets left. So if you're listening to this in time, I invite you to come out. Go to Grub and GrowRich.com and grab your ticket. All righty. And should you have a question, comment, or concern that you like me to address here live on the show, send it to me at podcast at epic realestate.com and type third degree in the subject line,

or you can leave me a voicemail on the epic hotline at 1-88-891-7203, and I'll play you live on the air and I'll make you famous. So I'll see you tomorrow for a new episode of Financial Freedom Friday. Peace. Have you ever wondered how some investors seem to get the inside scoop and snatch up all the deals? Wonder no more. The secret to finding deeply discounted. properties has been exposed, and it lies within your ability to find motivated sellers, go to

find motivated sellers ASAP.com and download their proven five-step checklist to find motivated sellers in any market. Find motivated sellers ASAP.com. Deeper discounts, less secrets. Find motivated sellers asap.com. This podcast is a part of the C-S-Sweet Radio Network. For more top business podcasts, visit c-sweetradio.com.