Epic Real Estate Investing - Why You Might Not Be Getting the Results You Want | 350

Episode Date: February 26, 2018

Everyone wants to know how to be successful in real estate investing, but many are afraid to get their hands dirty and do what it takes to become financially free. Today, The Epic Real Estate Investing Show shares what to do if you aren't getting the results you want from real estate investing. Through personal and professional experience, Matt shares his tips for picking a market, "getting dirty" to get results, overcoming self-sabotage, and more. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. Yo. I'm not sure for what you came for. Throw you smoke up your ass, seminars is next door. Line your tips up, man, just like a neck for. All you're winning and wanting, yo, that's what we check for. By building piles of cash, create cash flow. Epic, real estate, investment, I make your cash grow.

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Epic, real estate, investment, then we can solve them. Scared money, you don't make money. Passing income, cash flow. Yo, how you create money. Safer as a losers. Open your eyes and see them. Matt Derry, y'all creating your financial freedom. Yeah, yeah, we got the cash flow.

Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah. Welcome. Welcome to the Epic Realist. State Investing Show. Glad you found us.

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All righty? So last week we discussed virtual wholesaling. And lots of chatter out there about that subject. And in that show, I led you to an opportunity that I thought was and still think is in demand. And what that is, it's an environment where people in the higher end markets can connect with more of the middle America type markets and create some mutually beneficial business relationships. And, you know, my clients from the coast, like, you know, like all the both coasts, like San Francisco, Los Angeles, New York, New Jersey, Boston, and down to San Diego, maybe Miami, those markets

feel that they are at. They feel they are at a disadvantage because the prices of the properties in their areas, they've got an extra zero at the end of that price tag. And they want to invest virtually because of that. That extra zero is scary to them. I can see where that comes from. I remember having that feeling before, you know, but after so much water under the bridge with regard to my real estate experience,

I've come to learn that that extra zero doesn't mean anything. It's the exact same process. But nonetheless, they want to invest virtually because of that. And then I have those clients from middle America. They feel they are at a disadvantage because they can't afford the marketing budget and that they feel is necessary to really win in their market. And these are all just feelings. They're all just thoughts and ideas. And none of it is true, by the way.

Neither one is true. It's just different perceptions of what is going on in their world and what's actually so. You know, just like the story that I shared, I shared it last week about my client. in Kansas. He felt he was at a disadvantage in his market that real estate investing didn't work in his market and he was looking in other markets and just didn't like his market. But then one of my other clients is mailing into his market, into his very city of what he's trying to escape, and totally crushing it. Did 88 deals last year in his market in the market that he thinks doesn't work. So I'm not calling him out. It doesn't make them right or wrong, good or bad.

It doesn't, and there's no judgment here whatsoever. It's just illustrating of how we can get inside of our head, be looking for a solution where you might not need the solution. You might be sitting right on top of the solution. And you might be creating problems that don't really exist as well. And as I've been saying, you know, real estate investing works in every market. I mean, as long as there are houses there and there are people that live in those houses, real estate as a business will work there.

So, I mean, there may be fluctuations between the volume. that you can get done there and between the equity spreads that you can get done there. And those things kind of ebb and flow, they go back and forth together. There's a little bit of relationship there, but I don't know, but maybe even not. But the opportunities, they're the same, give or take. And I say give or take because there may be some fluctuations. But what I know for sure is they are not different. They are not opposed.

It's not one is good or bad. One works. One doesn't. Right? It's not black and white weather investing real estate. It works or not in any given market. It works in every market. I mean, who built the market?

It was a real estate investor. And transactions continue to happen in those markets. And they continue to happen with people. You know, that transactions do not happen without people. And the reason that we can buy real estate at a discount is because people with that own property have problems. And problems are created for people on a daily basis. So it just, it works everywhere.

You know, last week I invited people to apply for the ground and pound school so that they could get certified. And I would then feel comfortable giving them entry into this virtual environment where competent and committed people could meet and form their own business relationships. And they could just go about and do what they want to do anyway. And so a number of you, a large number of you took me up on that invitation, which I found very encouraging. Yet after, I don't know, 50 plus conversations or so, I and the team, we came to a conclusion. For those of you that inquired for the most part. It wasn't everybody.

There's certainly some exceptions here, but for the most part. And this may be difficult for you to hear. But we as a team, we kind of came to the consensus that, and you might want to consider this for yourself, even if you didn't inquire and we didn't have this conversation with you, consider that it's not so much the markets that you have a doubt in. It's yourself that you're doubting. Consider that you don't necessarily want to invest virtually because you think you live in a sucky market, consider that you want to invest virtually because you don't want to do the work.

If you didn't apply and we've never spoken, I don't know, just consider this. Try this on. Try this on for size. Let's try this on as a teaching opportunity here. And just try it on like it's a new coat. And you're going to wear it. You're going to put it on in the store. You're going to look in the mirror and you're going to like the way it looks and you're going to go buy it or you're not going to like the way it looks and you're going to put it back on the rack. My son, he just started his second season of Little League baseball. And he's six, six years old. And this year he's got a totally different type of coach for his team, meaning last year's

coach had these short little 45-minute practices and it was all about making sure that the kids were having fun. That's what it was all about. Let's just keep it nice and short and make sure everybody has fun. And this year, though, Mattel's coach, his coach means business, right? he's started holding practices six weeks prior to the season even beginning. These are six-year-olds, by the way, if I didn't say that. And, you know, he's holding practices two days per week. And although the schedule reads a 90-minute practice,

realistically, they are rolling into two-hour practices every day. And I appreciate that. I actually like it. I think it's good for the kids, in my opinion. And I think they all need a little bit of grit in their life, especially in today's environment of, marshmallow and bubble gum. But I share that with you for no other reason than I can only sit in the bleachers for so long watching six-year-olds play baseball before I kind of start to lose it.

So I frequently, I get up to walk around. I get up to walk around. I stretch my legs. I pass some time hoping that when I do return to my seat, we're going to be that much closer to the end of the practice by just hoping that the time passes. It's one of those things that if you ever had a job and you just keep looking at the clock. It's kind of like that. the first 45 minutes or so, but then, again, it's six-year-olds playing baseball. Anyway, my son, where he holds his practice, there are several fields there at any given time.

You'll see a number of different teams practicing or playing games. From six-year-olds playing their baseball and the four-year-olds playing T-ball to the high school teams, to the girls' softball. I mean, everything having to do with baseball is going on there pretty much at all times during the week, daily. So this past Sunday, as I was on one of my leg stretching walks, one of the fields over there had some activity going on that caught my attention. And there was one middle-aged guy working with probably a half a dozen or so girls of what looked like they were probably members of the local college softball team. They were older and they were good. And it was really fascinating. This coach really had his act together.

He had the girls running through very organized drill. and he wasn't taking it easy on them by any means. You know, in as many years of baseball that I have under my belt, I was learning a thing or two by just listening to the coach. I've never heard some of the stuff that he was saying before, and I was just watching him work with these girls, and I was like, well, that's good advice. No one ever told me that.

That could have helped if I had that advice back in the day. Anyway, and during this one portion of the practice, he was conducting these infield drills, and he was just really pounding the ball, hit it hard to the infield. You know, calling out plays and hitting into the second basement and hit it, go to first, and hit to the short, go to first, hit the third, go to first, and then, okay, infield, let's turn two. And, you know, he's just running these drills.

And this one particular ball that he hit, and he hit it really hard, and he hit it to the girl playing shortstop. And it got by her, right? Just barely, but it got by her. And the coach, when it went by her, he stopped the drill. And he asked her, hey, did the ball get by you? And she replied, yes. And then he asked, did you get dirty?

And she said, no. And then he said, change one of those answers. And it gave me chills. I'd never heard that before. And he proceeded to hit the ball again right at her, seemingly even harder, like he was pissed, of which she had to die for it. And she indeed got dirty this time. And she indeed did stop the ball. She hopped to her feet and fired the ball to first.

So I share that with you in the spirit of if you're not getting the results that you're looking for out of your real estate, out of your business, I'm going to ask you, are you getting dirty? If not, change one of those answers. And what a convergence of events that we had these slew of phone calls for the ground and pound school with the majority of people wanting everything that real estate promises. but trying to get it by avoiding getting dirty. So I ask you right now, if you're not getting the results that you want out of your real estate investing, where in your business are you not getting dirty? Or where could you get dirtier? Because if you want control over your business, if you want to be hands-on,

meaning you don't want to pay someone else like a turnkey operation or a whole, wholesaler a premium for their deals, meaning you want the deep discount for yourself, you're going to have to get dirty. There are no shortcuts. Here's what you want to get real comfortable with. Real estate, it's hot right now. It's a big deal, right? It's really hot.

And everybody wants to get in. Yet nobody really wants to put the pieces in place or the training in place or make the investments in their business or their systems or the investments in themselves to whether the storm. You know, one of the two things I'm I'm proud of as an entrepreneur is I launched my two successes in life during very difficult times. You know, when I started my record label, that barrier to entry, the barrier to entry to do that, it was really high. You know, I didn't have a lot of money. I actually didn't have any. I was a professional sound and lighting salesman. I sold DJ equipment. And I worked in this big warehouse, and that's what I did, 40, 50 hours a week.

And I don't know, I made maybe $40,000 a year. And I wasn't too bad for a 25-year-old, almost 25 years ago. But by no means was I a pillar of society or any sort of symbol of wealth, nor, you know, did I have enough to live on and finance a record label. But I was able to do it because I was willing to make up what I lacked in finances. I made up for it and sweat. You know, I borrowed money from my fellow salesman, the guys that I worked with, and I borrowed money from them to press records. And then I spent my two days off a week.

I would drive in my little Nissan 200 SX, loaded with records in the trunk of my car. And I'd drive from Los Angeles to San Francisco, then down, go east, down through Riverside, you know, spending the night in my car there because that took a full day just to do that. and then driving from Riverside down to San Diego and then back up through Orange County to Los Angeles. You know, if you're not from Southern California, that's a big track. That's a two-day journey. It's a two-day circle.

And what I was doing is I was putting my records on the shelves of music stores. I was putting them on the stores or on the shelves of stores on consignment and then reporting back to my day job for five straight days. And then my two days off, boom, I started the whole process all over again. I drove that same route to go and collect from the music stores for the records that had sold. So I'd collect my payment, my compensation for that. And then I'd replenish of what had sold. So I'd put new records on the shelf in place of the ones that did sell. And I did that for almost two years straight before I landed my big distribution deal,

of which ultimately led me to all the success that I had in music. And then what would become epic real estate, that's true. started just, I don't know, 18 months before the big economy collapse in, I guess, 2007. And just when I hit my stride with regard to wholesaling properties even, almost every one of my connections that I was really kind of thriving and putting this business together, almost every one of my connections, they were ran out of the business. They were all out of business. They left the business. And I kept going, though, because, actually, because I did have a choice. I mean, you know my story about bag and groceries. And so I knew I didn't, and I just learned how to do this real estate

thing. And so I didn't feel like learning anything new. I didn't want to learn anything new. And even if I wanted to, I had no idea what that would have been. I didn't have a choice. So I had to hustle and create new relationships because there wasn't a budget for marketing. I mean, it was just straight earning relationships and earning the right to work with people. you know and 10 years later you know i've had one of the the more successful podcast on iTunes for the last eight years currently sitting pretty consistently at number two and and uh still striving for number one but we've been here for eight years started our ninth year this year and later this year i'm going to be releasing my new book of which i'm confident is going to shake things up a bit

and people are they're going to become they're going to come wondering hey where did this guy come from. Where did this, I imagine I'll hear it is, where did this overnight success come from? That's how big this book is going to be. And, you know, when I started both of these ventures that I just went through the record business and then the real estate part of it, I started with nothing both times. I had no overhead. I had no staff. I worked out of my house going in and out of odd jobs, part-time jobs, temporary jobs, you know, whatever it took to help make ends meet during the low times so I could keep the bigger dreams alive. And the point being, I really had to get scrappy and I really had to get dirty to keep things together.

And that's not to demonstrate, ooh, look how tough I had it. No, I didn't have it tough. I mean, shoot, I live in America. We don't have it tough. But rather just to show you that it took something to get where I am today, right? It wasn't an easy path. It wasn't a straight line even. It was tough.

and there was a lot of times where I just had to do what was necessary. And what I really want out of today's episode is for everyone just kind of step back and think about how badly do I really want this? How badly do you really want this? I want you to think, like, am I afraid of getting dirty for the greater good? Is my addiction to looking good, the primary obstacle in my way? Is it really the market? Is it really like my lack of time?

Is it really limited finances? You know, I ask these questions because I think we're living through a very unique time. And we've been living through this time for a while of push button this. Instant gratification that. Shiny object, this, silver bullet, that. You know, real estate investing is really hot right now. Entrepreneurship overall, it's really sexy. You know, the whole side hustle thing is surrounding.

by a whole bunch of bling and glamour right now. And I think this era is going to come to an end at some point. The only thing that will never change is that things will always change. And I think this era is going to come to an end at some point. You know, whether it's this year or five years from now, I don't know. But it will. It's coming to an end. And what I don't want to see is you who has this dream of taking down everything that

real estate promises, has this dream of financial independence, this dream of financial freedom, this dream of escaping the rat race, I don't want to see you not get there. And when the world shifts, I don't want to see that, I don't want you to find yourself, you know, having jumped out of the frying pan and into the fire, so to speak. I don't want to see you end up working retail or, you know, being a fry cook or bagging groceries. Because I've been there. I've done all of them. I know that's the alternative.

for me if I don't get dirty during these good times that we're living through. And so I'd highly recommend something that's not discussed very much right now. I highly recommend that you get dirty and get good at this. Take advantage of this time to get good at it. Get good so you know how to make money. So you know how to take advantage of the market when it does shift. You know, moving at half speed or half effort right now will not prepare you. to thrive when the market shifts because it will.

So get dirty. So what does getting dirty in real estate look like? Let's talk about that. I've really made it as simple as I possibly can. And I've made it available to anyone that wants it for free, for zero cost. You know, if you're not a member of the Epicprol Academy, this is what you do. Go to Daily SuccessReport.com. and you can download the daily success report.

There you're going to see a free web class that demonstrates exactly how to use it. Okay? And you're going to be opted into my email list. And if you don't want to receive any more emails from me, just scroll down to the bottom of that email list and click the unsubscribe button. You'll never hear from me again. But you'll still have the daily success report. Once you grab the daily success report and you're going to see a little link or a little button to a free web class that's going to show you exactly. how to use it. Now, in that web class, right now, there is nothing for sale. I'm not going to ask

you for anything. Now, at the end, if you'd like some additional help, I'll show you how to get it, but there's nothing to buy in this web class. It's a free web class that shows you of the nine profit accelerators inside of the REIES framework that I use to create badass real estate investors. It's going to show you which three to focus on for the fastest results. I mean, you need all but to get some fast traction and results, you're going to see the three that are worthy of your immediate attention. And in this web class, I'm going to walk you through the Daily Success Report step by step

so that you know exactly what getting dirty in this business looks like. So you know exactly what it takes to succeed in this business. So you know exactly what you have to do right now so that you are ready when this market gets difficult. difficult for those that don't prepare, that is. DailySuccessReport.com, that's my gift to you. If you still want to go and apply for the Ground and Pound School, we have spots open, ground and pound school.com.

If you want to rehab that conversation after today's episode, then go through and just opt in again, fill it in, and you can set another appointment, and we'll take it from there, all right? So now you know, no excuses. You know, I remember in my mid or late 20s, I was going to, I started going to a Bible study. And I remember reading through the word. And, you know, every time I went to a Bible study, then I would learn something.

Like, learn something that I didn't know. And I was like, oh, crap. Now that you know it, now God is holding you accountable. So it's like, well, now that you know this particular thing is a sin, you might have to be. had an excuse yesterday because you didn't know it was a sin, but today you know it's a sin, so now you don't have an excuse. So if you actually commit that sin again, it's a conscious effort. And I just, I share that with you because now that you know how to access what's going to make you successful in this business, and I'm going to show you exactly how to do it,

if you don't do it, understand that that's a conscious decision. So now you know, time to do. All righty, that's it for today. God bless and to your success, I'm Matt Terrio, living the dream. 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.

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