Analyzing properties and running the numbers can eat up a lot of time, and then you often find that you went to all that trouble for no reason. Today Matt tells you how to save yourself a great deal of time and aggravation using his two levels of property evaluation. But prior to getting into that topic, Matt discusses a trend that he’s noticed in the emails he gets from aspiring investors. Many of them are having a hard time launching their businesses, and a number of them are also finding it difficult to analyze their deals. Tune in as Matt examines all of these important issues on this episode!
Download Matt’s real estate investing course for free at https://www.FreeRealEstateInvestingCourse.com. And check out REI Wealth Magazine, which is new in the iTunes store. You can get three months of REI Wealth Magazine absolutely free by clicking on this link: https://itunes.apple.com/us/app/rei-wealth-mag/id552053319?ls=1&mt=8.
Just install the “REI Wealth Mag” app, then tap “subscribe.” After that, tap “Current Subscribers” and now enter the three months free bonus code: reinvestor.
Please make a point to join us on our next Memphis Income Property Tour. Register at EpicRealEstateTour.com. The tour is free, so all you need to do is make your way there and pay for your own food and accommodations. On the tour, you’ll get to spend one and a half days with Matt Theriault as you look at one of the nation’s hottest real estate markets!
- It’s been great meeting you virtually. Would you like to meet in person? Our next live event is right around the corner! Go to EpicIntensive.com for the details.
- Need money? We have secured more than $15,000,000 of funding for the Epic community, people just like you. Get access to fast cash for your real estate investing business with our “one-of-a-kind” credit-based funding program at EpicFastFunding.com
- Need time? Work on your business rather than in your business by leveraging the time of others. Access free information and find real estate-trained virtual assistants to help you free up your time. Learn more at VAsForRealEstate.com.
- Need training? The ultimate training environment for real estate investors: Version 3.0 of The Epic Pro Academy! New look, new lessons & new content – we’ve got everything you need to know to get your first paycheck!
- Need someone to do it all for you? If you’re an Accredited Investor, you can diversify your portfolio by hitching your wagon to our train and share in the profits. Go to EpicWealthFund.com to download the executive summary.
Hey, Matt here from the Epic Pro Academy with another quick tip for you. You know it’s been awhile since we’ve had a chat so hello. I’ve missed you. Now recently I’ve come out of retirement with regards to my actual income investing in real estate, my active investing in real estate and for a few reasons.
I am going to let you in on that as to why in the next episode of the podcast but there’s something I want to share with you right now, as this is relevant to all of you. You know I just mentioned that I came out of retirement. You see I am in a position where I can duck right back into a comfortable retirement anytime that I want.
I mean that’s just the type of life that I’ve set up for myself. I mean I doubt if I’ll, I don’t know, I’ll ever completely retire but it’s a great feeling to know that I can. I want the same for you so my question is what is your retirement going to look like? What’s your plan? What is it going to look like once you get there?
I mean does it include bright sunshine and a beach? Is yours to spend quality time with your grandchildren? Does it involved endless rounds of golf and early mornings filled with fishing? Maybe your retirement plan involves travelling the globe, travelling the world.
I mean all of these plans for retirement, they sound great. However, rather than placing a lot of focus on the destination, what about the journey? I mean how long is it going to take you to get there? And how will you actually do it? You see understanding how you can reach those relaxing retirement years is much more important than knowing what you want to do when you finally get the chance to enjoy them?
You see with all the work, work, work and more work that you put in to your daily existence, it will be tragic for you not to achieve the perfect retirement dream. I mean that would be an absolute shame. And sadly it is or it will be the reality for 95% of the population but you know what? It doesn’t have to be.
You see we spend most of our lives working and working, saving and saving, accumulating and accumulating with the hopes that one day our journey would end at a big, shiny pot of gold labelled “security.”
Now you know, you know good or well as I do, there isn’t a pot of gold there waiting for you. I mean that would be an unrealistic expectation. As well as the traditional roadmap we follow to our retirement years is also very unrealistic. In fact, I’d like to label it as a fable. It’s a myth.
It means it’s just as much as a myth as the pot of gold we were told is sitting there at the end of the rainbow waiting for us. You know in this wonderfully weaved tall tail we’ve all been told to work, pay off our debts, and accumulate savings into devices like 401K, IRA, stocks, mutual funds, annuities.
Then after many, many years of working, we will have saved enough, which will provide us the security of income to savour our fleeting last years of life. I mean maybe you’re okay with this. But if that doesn’t sound great to you, I’ve got a better way to do it.
Now instead of basing your future on accumulation, your retirement plan should be based on residual income. Creating multiple streams of passive, automatic residual income is a sure fire way to ensure that you can enjoy retirement years.
Not only enjoy them but also enjoy them while you’re still young enough to do so. I mean this plan for retirement is a roadmap to freedom. Independence. When properly done, it puts you on a path to not only a comfortable retirement but an early one as well.
Now my ideal source of residual income is rental real estate. Right? I mean it’s why I’m so passionate about it. It’s why I created a vehicle, a platform to inform people about it. You know investing in real estate is ideal to creating an early retirement or overall financial independence if you will.
You don’t have to call it “retirement.” Just independence. It’s ideal because in addition to creating a residual income, you can benefit from equity build-up, epic tax advantages, the wealth building power of leverage, but most of all, you can actually control your residual income with really no extraordinary effort on your part like no other investment vehicle provides.
You have control. That is invaluable to your future. Control. You know these benefits; they’re paramount for realistic plan for your financial independence. So here’s how you can really speed up the process even. I mean instead of taking the money that you make from your rental properties and saving it, put it back into an asset that produces more residual income. Watch your residual income compound like before your eyes as opposed to watching your interest compound.
I mean that’s equivalent to watching paint dry or watching grass grow. It takes 30 to 40 somewhat year for it to really kick in but not an asset that produces residual income. You can watch that and enjoy that right now.
Now that asset could be more rental property, it could be an automated business or even an online business. That is exactly what I’ve done. It’s why I can confidently recommend this path to you as realistic because it is my reality.
I want it to be your reality too. To get started, all it takes really is to shift the mindset so modify your current goals of making and saving a lot of money to creating multiple streams of residual income.
Shift from an accumulator to residual incomer. So to sum this up, I’ve presented to you an alternative retirement plan a financial independence plan. In this plan, you no longer trade time for dollars. You no longer save year after year and hope for the security to enjoy a few final years of your existence.
Your goal in this plan is not to find some magical destination where life finally begins. No. Instead you being to invest your time and money producing assets, which provide automatic monthly residual income. You repeat the process again and again and again and watch as a path of early retirement and freedom of, a path of independence materializes before your very eyes.
Now it’s not going to happen overnight but you know what? It’s not going to take the 40 to 50 years that the traditional plan is going to take either. I mean in this plan for retirement, your journey and destination, they come together as one.
You enjoy your life right now when it’s happening. You get to enjoy the abundance and happiness and blessings that financial independence brings with it. I mean doesn’t this sound like a much happier ending than praying and hoping for a pot of gold?
You know hope is not an investment strategy. It’s gambling. So don’t gamble with yours and your family’s future. I’m Matt Theriault of the Epic Pro Academy.[End of Transcript]