Extreme Passive Income with Jeff Armstrong | EREI 16

Extreme Passive Income with Jeff Armstrong | EREI 16

Today on the show, Matt interviews Jeff Armstrong, who is both a business associate and friend. One of the country’s foremost note investors, Jeff is here to talk about how you can generate a lot of passive income minus the tenants, toilets, termites, and taxes. Enjoy!


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Podcast Transcript
(Voice Over): Epic Real Estate Investing Podcast Episode Sixteen. You’re about to meet a man that can show you how he took control of his life and financial future and how you can do the same. He’s never been on TV. He’s not a millionaire. He doesn’t know Donald Trump. He is a full time real estate investor, newly discovered author, and family man. He does not report to a boss.

He creates his own schedule and takes his family on a few vacations every year. He got started investing in real estate with almost no money and a really crummy credit score. And he’s going to show you exactly how he did it and how he continues to do it. You will have to work.

You will have to be responsible. However, laying the beach, sipping fruity drinks is a reasonable goal. Without further delay, your guru. Sorry. Your guide to a better life, the real estate investor, Matt Theriault.

Matt Theriault: Hello. Greetings from The Epic Real Estate Investing Podcast. The podcast that will show you how to create wealth through conventional and creative real estate investing so you’ll have the option to realistically retire in the next 10 years or less. And enjoy the good life while you’re still young enough to do so.

My name is Matt Theriault, author, full time real estate investor and family man. Boy, am I family man now. I’m really, really, really feeling it. My son is putting me to the test. I’ll tell you that but I’m working it out. Everything’s going to be all right.

Now if this is your first time listening to the show. You want to do two things. First of all, welcome. I’m glad that you’re here but you would want to go back and listen to episode one to get the gist of what the show is about and why it’s here.

I mean everything that we discussed is going to make a lot more sense if you do that. And two, download the free real estate investing course on how to deals, no money required. And you can get at freerealestateinvesitngcourse.com.

It’s a step-by-step course of which I reveal everything that I do, everything that I say, everything that I use including the documents and contracts. Everything that you are going to need to invest in real estate using no money or credit. And that’s yours for free at freerealestateinvestingcourse.com.

Okay. We’ve discussed a bunch about the first few phases of travelling that millionaire real estate investor journey, think a million. We spent a bunch of time on that one. In my opinion, it’s probably the most important.

Then you’ve got to buy a million. Then you want to move to eventually owning a million. But we discussed very little with regard to receiving a million, the fourth stage of the millionaire real estate investor.

One of your burning questions from the survey that I sent out was how close are you to hitting that receiving a million goal? To answer your question, I’m a long way away from it. I just completed that second phase of buying a million.

I’m now on the process of obviously buying more but transferring those purchases to actual ownership. You see there’s a big difference between being on title for millions worth of real estate. And actually owning a million dollars worth of real estate and actual owning a million dollars of equity but that’s what I’m doing right now.

I’m transferring those purchases or the stuff I’m on title for to an actual million dollars worth of ownership of which I have a couple of deals on my desk that I’m going do. That should put me at a million in equity within, I don’t know, 4 to 6 months. That’s very conservatively, maybe sooner.

But for the 6 months and I will be in position where actually own a million dollars of equity. Now I got a little bit of a slow start as in the beginning, I was using all of my wholesale and flip properties to live on. I mean that what’s paying the bills.

While I was doing that, I was spending time in that S quadrant. The “S” quadrant that Robert Kiyosaki’s “Cash flow Quadrant” (book) talks about, that self-employed quadrant. In that quadrant, you do a lot of exchanging time for dollars. Although the dollars can be really good in that quadrant, you know, it was wearing me out.

About a year ago, yeah, I guess it was about this time last year I made a conscious decision. I had to make some sacrifices to do this but I made a conscious decision to get out of the “S” quadrant and direct my focus to the “B” quadrant or the business-owner quadrant, of which you do a lot less exchanging time for dollars and you put systems in place to generate your dollars for you.

A typical system that would do this for you would be rental real estate. What I’ve noticed by redirecting my focus, I really busted through those first 3 stages, those first 3 phases of the millionaire real estate investor in less than a year.

I’ve been working at this for a few years and I busted right through the first three within a year once I changed my focus. Within 6 months, my focus would be on the next phase or the final phase to receive a million dollars annually of passive income.

Now in real estate, there are 2 ways that you can do that. You can purchase a property, rent it out, and become a landlord. That would be the “B” quadrant or the business owner quadrant or you can become the bank and create passive income by lending your money of which would be the “I” quadrant or the investor quadrant.

If you haven’t read that book, I highly recommend it. It’s going to give you a really clear picture of how people make money, how they earn their money, and the sacrifices and the exchange has to go on to create their incomes.

It’s really interesting to see where you are inside of that quadrant then identify where you want to be then it’s easier to take steps to get there once you know where you are and where you want to be.

We haven’t really talked about the “I” quadrant that much. I mean if we talked about it at all, I think this is the first time of even bringing it up. It’s a rather exclusive and small niche inside of real estate investing.

My guest on the phone today is a practitioner and educator in this specific niche. He is well respected and held in the highest regard in this niche. He conducts his business with a straightforward, honest, and fair approach.

Through an abundance of personal experience, inspired vision, and dedication, he’s posting as leader in this industry and in this niche. He holds the title “Master Note buyer.”

He is a licensed California real estate broker; seller finance notes instructor, and a recognized and requested national speaker. He speaks all over the place on this subject. With 1500 closed note transactions to his name since the inception of his company, Armstrong Capital. His experience is really unsurpassed in the industry of notes.

On the phone, he is waiting for us. I introduce to you today a very good friend of mine, Mr. Jeff Armstrong. Jeff, thank you for joining us today on the Epic Real Estate Investing Podcast.

Jeff Armstrong: Thanks, Matt. Nice to be here.

Matt: I’m really glad that you’re here. You know, I guess we could just get started because you practice a rather unique strategy. What I mean by unique, there’s not a whole lot of people in the country that do it.

Then on top of that, there’s not a whole lot of people that are nearly as good at it as you are so if you could just kind of tell the people about how you got started in real estate investing and what was initial attraction and a little bit of your strategy.

Jeff: Actually, I’m, way back when I was younger I’m taking about when I was 19 or 20 when I first bought my property. I got started investing in real estate through the Daily Day Bottle Misting.

I don’t know how many bottles they give away but they were the first infomercial gurus on TV and how to buy them with no money down. I did that. I bought my first property when I was 19 years old.

I had it a year then rent out for another two. I just kept doing that for quite a number of years.

Every time I bought a property, I fix it up then rent it out then keep moving forward that way. That’s what I thought was the best.

And one of the things that I realized when I was buying this property and renting them out is the headaches you have as a property owner and as landlord.

I call it the tenant termites, the toilets. You just can’t get away from that. I was always looking for something better than just buying properties and renting them out.

So when I was about 25 years old, I went to a workshop that actually taught me the basics of buying and selling notes in the market. It’s called “the note business.” I’m involved in the note industry out there of people like me who do this.

That’s what made me more attracted to real estate was actually own the property without being the owner. You know, it’s more of like be the bake not the landlord situation where I’m collecting the payment on mortgage payment rather than collecting rent payment.

So my only worry every month is that if they won’t make any payment for their property then you know I make a phone call and start a foreclosure. When I was on the landlord side, you know, you’re getting your rent payments.

You’re making payments on your mortgage. You’re paying your taxes, paying your utilities, and dealing with all the headaches that come with being a landlord and owning the property.

So my attraction to the real estate is beyond the side of it where I’m receiving the payments and mortgage not me missing the payment of the mortgage. So that’s kind of why I got started and how I got into my unique niche.

Matt: Got it. Got it. So buying notes, if someone wanted to do that, where would you go to and buy notes?

Jeff: Well, I wish it were that simple. There’s no store. There’s no website. There’s no place where you could go and say, “hey, I want to buy a note today.”

When you are interested in buying notes, you need to market. You’ll be marketing directly to buyers or people who have sold property and carry that to finance to property.

You do your own marketing. You saddle it up like an entire business. A lot of people in the industry that don’t necessarily have the money to purchase these notes themselves.

So we call them “note brokers.” You know, you can find the notes, sell them off to investors that are in the note business then earn a fee that way.

While you are getting your feet wet and learning the business as a note broker then eventually buying those notes themselves.

Matt: Got it. So it’s kind of like, you know, with houses. A lot of people started the wholesaling property or fixing and flipping with the intention of, you know, holding on to those properties. It’s kind of a same idea.

Jeff: Yeah. Absolutely. Absolutely. You can use that term also if you need to light to copy what we do. You know, we are the middlemen in the transaction. I don’t know anyone that buys every single note that comes across through their desk.

You know, myself, I probably book at least 3 quarters of what comes across my desk than other investors. I buy the ones that fill my criteria. It’s definitely a wholesale type of transaction when you look at it that way.

Matt: Got it. Wow. It sounds very similar to, you know, what my day looks like. You have probably at least three fourths (3/4) of the stuff that I pass on or I’ll put in the contract and distribute it to somebody else. You know, those would fit your criteria so those are the ones you hold on to.

Jeff: Yep. Perfect. Exactly. Yeah. So I mean if you’ve been in real estate at all, you kind of know the gist of it. But then when you get into it, there’s a whole set of steps and standards and practices that we do. Just like in the business, if you’re going to be a wholesaler or fix and flipper or a buy and hold type of real estate investor.

Or if you’re going to be a note investor or note broker, they all have their own set of criteria, standards, and practices that you do and need to learn to succeed.

Matt: Got it. It’s just like anything else. You said you run your marketing like a business, what type of marketing do you do?

Jeff: Well, since our target is a very selected group of people across the nation, this is a nationwide business. We do business nationwide. Because our target is so niche, you know, my target market are people who have sold a property and carry back the financing to facilitate the sale of the property, which means the seller and the property is carrying the mortgage on that property.

In some states it’s called the “mortgage.” In other states, it’s called the “trust.” Other states, it’s the “land contract or land venture.” So there are other instruments across the nation but it’s all the same thing. We call it purchase or money mortgage.

So my target is such a niche target of people who have sold properties and carry back the financing to facilitate the sale of the property. I need to refine my marketing and really have some targeted marketing to get these people to contact me and to let them know that we purchase notes.

So one of the things we do is we do direct mail or directly to them. It’s one of the more experience in marketing things that we do. The direct mail business probably gets a 30% of our business every year. Mailing out letters and following up directly home owners.

We do policy Internet marketing that’s on our website. We provide people to that in any way we can. We did and participated in networking events. We do direct contact and we network through people.

In that sense, to let people know what we do and what kind of clients want to follow up and know what the note buyers are looking for. Of course we built this, I’ve been doing this for 20 years, we built a nice network of professionals or people that have contact on a daily basis or a weekly basis with someone that’s receiving payment on a note.

We develop our sources that way. We create a big referral network. There’s also ways like we do once in a while spy ads in particular niche areas that can be productive as well.

It’s just like in any business. There’s a marketing that you have to do. You just can’t say, “Oh, I want to be in the note business.” Then the next day, you got people calling you.

Matt: Right.

Jeff: It’s just not easiest as some may make it seem.

Matt: Yeah. Buying and selling a house isn’t that easy either. A lot of people make it sound it’s very easy (laughing)

Jeff: Yeah. I know. (laughing)

Matt: So your marketing and direct mail, how often do you do that?

Jeff: Oh, on a monthly basis.

Matt: Monthly?

Jeff: Yea. We got stuff going out on the first Friday of every month so it’s a constant program. It’s not direct mail or mail out when sending mails to get a deal.

It’s a direct mail program where you set out to mail your letter every month. Then eventually calls come in and those deals close in and you have closed deals every month.

Matt: I’m curious as far as the economy looks like right now where the financial part of it. We had this, I guess, the financial crisis. We have all the banks have been imploded. How has that affected your business?

Jeff: Well, quite a bit. Our market hit just a like a regular real estate market did. Was it last year or 3 years ago? It has been going on. We kind of look at it as a cleansing of the industry. A lot of people that were in the business or the note business two or three years ago are not in the business anymore because it becomes a bit tougher.

In all honesty, the business is tough enough then when you add on top of it that our investors are not buying notes anymore or investors are hiking up their criteria when they’re buying notes.

That really did affect our business so a lot. One of the things we do at Armstrong Capital is we have small list of private investors that has, we have been able to keep our business going by using them because the larger institutional investors that have been out there for some reason for a number of years just aren’t anymore.

If they are, their criteria are so tight that it’s really hard to meet their criteria when they want to buy a note. You can look at it just like you know it’s harder for people to get a loan now. The mortgage companies’ and the banks’ criteria is so strict that hardly anybody can get a loan.

Well, it’s the same with note buyers trying to buy these notes. They tighten up their criteria but it’s not all bad news. It’s good news because now we have investors back to the place where they should have never left, which is analysing each deal for what it’s worth.

And not buying just to fill up some securitization on Wall Street. I think for our industry, that is a very good thing. When we are talking about the effect of the financial market on our business, we will ride along with it in many sense of the word. You know, when the real estate market is doing well then we are going pretty good as well.

We are also going down then our business is also going down. Maybe not exactly, you know, in line with it but pretty much following right along the ups and downs of the real estate market.

We anticipate that with the things happening lately because it’s so hard to get alone to buy a property. There’s so many more notes being created because seller’s property is one sold property and they’re selling to people who can’t qualify for a loan so the sellers of these properties are carrying back the notes.

So today 2011, there are more seller carry back than I’ve ever seen in the 20 years I’ve been in the business. We anticipate more and more seller carry backs to be the trend. We are hopeful that 2012 and 2013 or so, more investors will step back and recognize that this is another huge market that we need to be putting more money in.

Then other business will start making it as well. So that’s, you know, in a nutshell, I hope I didn’t ramble on too much how our business has been affected by the real estate and the financial market.

Just like in any other business, you know, we are all affected and everything goes up and down and so do we.

Matt: You know, you didn’t ramble. You kept on answering the next question I was going to ask. Well, I am just glad I stayed quiet and let you talk. (laughing)

With so many more notes being created, though, doesn’t present some sort of opportunity in the near future?

Jeff: Oh, no doubt about it. I mean, you know, when the business goes up and down in waves like what I was just talking about, with so many more notes created then the opportunities for us in the next couple of years will be huge in the note business.

You know, my last really big run was about 2005, 2007 where between even before from 1996 to 2006, we were closing over a hundred deals a year since 2006 all throughout down.

We anticipate that type of business to be coming back in the next year or two because of the influx of all of these seller carry back notes. When you think about it, most sellers of these days are carrying back notes of their property. They would rather sell it to someone who could qualify or mortgage and get 100% of their money but they can’t.

So now we have all these people that wants to sell their notes. We just have to make sure we can classify them with types of discounts that we are creating with the investors we have on our books.

Matt: Right. That’s exactly what I was thinking. I mean it’s kind of like right now with so many properties being upside down. Those are that familiar with, for example, with short sale market 12 or 15 years ago.

Jeff: Right.

Matt: They were in position to really take advantage of the first wave of short sales when they came through. They just seem to be the same dynamic of building but I mean you know your business much better than I do I’m just like the outsider looking in and seeing the market work. It seems to be a good spot to be right now.

Jeff: Yeah. It really is. You know, for people that wanted in real estate that don’t want to go and look at 100 properties to buy one. This is a different way to go. You know, I get to work out at my house in my shorts, in my t-shirt, and wait for the phone to ring. You know, in order making offers on notes all over the country every single day.

I have to go check out, get in my car, drive to the property, and inspect it before making any offer. We have a very staple checklist of what it is that we require to give any initial price on a note and some initial options then we go from there. We do expect in the coming year that the opportunity is available. It will be greater and greater for us.

Matt: I just read a thing on a Bank of America blog or subsidiary. They’re talking about hoer they’re already trying to condition the secondary market for the subprime loan business to come back. I thought that was pretty amazing.
But they put out some statistics that made it very believable. It sounds absolutely absurd and ridiculous in today’s environment but they had some evidence and some science in showing that coming back. So anyway,
Jeff: That’s actually good news for us. No doubt about it.
Matt: That was what I was thinking. Absolutely. So what are some of your, you mentioned you generate some business in the Internet. You have a website. What are some of your favourite resources? I mean there’s so much available these days. It seems like something new comes out every week. Do you have any favourites?
Jeff: Well, I don’t really have any favourites because I don’t do too much prospecting on the Internet. Any deals that we get from the Internet are people that have received some type of other marketing materials and they have gone to our website because of that or they’ve us in our banner ads on other industry-related sites.
But I can’t, no one can go online and look for a note. There are ways to or some counter-recorders across the nation that you can go into a counter-recorder’s office and look through all their recorded documents.

Find the name and an address of a note holder but then you have to go and send some direct mail to that person. So that’s not an efficient of doing business. You’re not going to find thousands that you need every month to do that.

As far as other websites, we use Internet a lot more for our do diligence when actually buying notes. We do for marketing in finding prospects. For instance, looking for the taxables. We make sure that taxes are bid. It ensures insurance or that type of thing.

So the Internet helps us out very much in that way. If you look at it on a whole scale and the entire nation, it’s only a nationwide business. We can’t do Canada, Mexico, or others. It’s only in America, Hawaii, and Alaska.

You know, on the knowledge that I have. I have been doing this for 20 years. I keep in touch with the major players in the industry. We estimate you know guestimate that there’s only about maybe, maybe 2,000 full-time people working in the notes business.

And then add on top of that about 800 or so part-timers or people who just trying the business. Then distribute that along a handful of institutional investors. Then you know the real players on top, we have our own list of investors buying notes as well so it’s a very middle niche business.

I share secrets all the time when I do workshop or speaking in a convention or something like that then someone emails me directly. Then they ask us question and I’ll answer it.

But you know, there’s a whole process or a step-by-step process of learning exactly what to do in the note business and how to do it properly. As far as websites, I mean there’s a dozen websites that we use for our do diligence.

Matt: Right.

Jeff: So, you know, it’s a very niche industry. Keep that in mind. It’s also a business. You know, you’re not just going to say, “hey, I want to be in the note business and find notes tomorrow.”

Matt: Right. Right. So you mentioned a little bit earlier that you know you sit around in your shorts and t-shirt. What does a typical day look like for Jeff Armstrong?

Jeff: I do a lot of work on email these days. I mean, obviously, the phone is a big part of our business so you know we are waiting for phone calls to come in and work on phone calls everyday to talk to note holders and brokers that work with us and in keeping the deals going.

So for the first part of our mornings, you know, whenever we start working 9am to 11pm or so, we will be replying to emails and returning phone calls in the morning. In the afternoons, the first thing on top of our current transactions, making sure that the do diligence process of doing properly on those and checking on our marketing, and doing our daily Facebook page updates and things like that to keep our followers connected to us.

That’s pretty much what we’re doing in the afternoon just working on the marketing and closing the deals in the pipeline.

Matt: Got it. You said “we.” Do you have employees? Do you have people work for you?

Jeff: No. I always refer to myself as a “we.” I’m always a one-man operation. I do have a processor that helps us. There we go again. That helps me to close the files once we do get acceptance and when we work on our transactions but you know when it’s such a nice industry. I mean all of these are connected in a way so that I can talk to investors and when I say “we,” I’m including the entire industry in my answers here because it really is.

We know who is in the business. Those of us who have been around long enough. We know who’s doing well. We know what they’re doing. We know what investors are buying what. And you know, as an industry, these answers are pretty much a good generalization of standards of what we in the industry do. Does that help?

Matt: Yeah. Absolutely. As part.

Jeff: You know, just like everybody else, I don’t want to get up and go to work everyday and drive in Los Angeles traffic. I don’t want to do any of that. You know? So I decided years ago that this is what I want to do.

I want to work at my house. I want to wear my shorts and my t-shirt. And you know, just wait for the phone to ring and control of what I want to do. Kind of do what I want to do, when I want to do it, and have the money to do it.

You know, that’s the vision that I had when I started. That’s when I do. If I have a business, that’s what I want them to do as well.

Matt: Right. Right. You have said that you have gone to or was it the Delgado approach or was it that infomercial? How much would you say you have invested over the years in your real estate investing education?

Jeff: Uh. Oh jeez. Tens of thousands. I’m sure. I mean I’ve been doing specifically the real estate note business since 1991 so that’s 20 years right there. I was into buying properties 6 or 7 years before that.

So I’ve been in the real estate industry for 26 or 27 years but even when I found my niche. The longing doesn’t stop. But I’m constantly going to conventions, attending workshops.

You know, I never say to myself, “oh, I know it all” or “oh, there’s nothing that guy can teach me that I don’t already know.” I can sit in a 3-day workshop and that instructor or that person tells me a piece of information that would better my business.

The $6,000, $7,000 or $1000 cost of that workshop is worth it. In the long run will make me money so I mean every single year, I attend workshops, conventions, and networking events and all that kind of events.

They do cost money sometimes and you have to do it. You have to keep on broadening horizons and getting the details of different deals, and seeing how people are doing deals in today’s market.

Especially what I learn from the ones who are actually doing the business. You know that can show you like “damn, we just close this deal last month.” Is there something or workshops and pieces of information floating around there in about every industry that’s just knowledge form 10 years ago.

That this is how it used to work. If you really want to stay on top on what exactly is happening today, it is real estate market in today’s industry so yeah. I do put quite a bit of money every year into my education or my continuing education to make sure I’m on top of everything that has to do with my business.

Matt: You know that’s a common trait that I’ve noticed amongst the most successful real estate investors that I know. Is that they’re so humble about what they know. They are so quick to admit that they don’t know everything.

You know, quite conversely the ones that are out there claim to be the guru are the ones that seemed to be behind the curtain and doing the least amount of real estate. You know, that’s exactly why I invited you on this show because I know you’re actively involved. You’re in the field. You’re in the same in today’s market so kudos to you, Jeff.

Jeff: Well, yeah. Thank you very much.

Matt: Yeah. You bet. What is something that you now know that you wish you would have known when you got started?

Jeff: What do I now know that I wish I would have known when I got started.

Matt: Or if you would get started, what would you do differently today if you were to start over today?

Jeff: Well, one thing that’s I would have done differently is that I would have put away more money from my brokering deals to purchase notes sooner. You know, we make a good living at brokering at being a middleman and finding a note, and selling it to an investor, and getting your fee.

You know, that’s the base of our business but the majority of the business or the big money that makes the note business is that you, yourself actually purchase a note. So the things I would have done differently are instead of taking 10% out of every commission and check I got, maybe I would get 20% or 25% of it and put it away so I could started buying notes sooner.

You know, when you’re investing or when you’re buying a $50,000 note for investing 30 years for $500 a month. You pay $35,00 for that note. I mean you have that $500 a month extreme passive income coming in every single month for 30 years. You know?

I talk about extreme passive income a bit. It’s extreme because I don’t have to worry about maintaining a property. You know the four things I said before: tents, termites, toilets, and taxes. I often warn about that stuff. You know?

There are people that you know when you own these notes, they service the mortgages and they collect the payments for me. Maybe take a little bit of fee every month but they are the ones that deal with the foreclosure or the defaults or anything like that with my instructions if that ever happens.

So the thing I would do differently if I start in this business today was as I’m learning the business in brokering and notes, I would put aside more money so that I can invest in some notes for myself sooner because that’s where the really big money is.

It’s just like you know most people that will probably listen to this maybe are in real estate already. They have seen whether those where the truth in lending disclosure statements you sign when you’re getting a loan.

You’re getting a loan for say $300,000 and you’re going to pay back to the lending company, mortgage company, or the bank a million dollars. That’s the same situation when we are buying a note at a discount. We will receive those payments in the long run. That $35,000 invested on the $50,000 note might turn into a $100,000 or $120,000 over those 30 years.

Matt: Right.

Jeff: You know? That’s some serious extreme passive income. That’s a thing I would have done differently had I know that before early in my career, I would have tried investing in a note sooner than I did. So there. That’s my answer.

Matt: Got it.

Jeff: (laughing)

Matt: You know, you used the word “extreme passive income.” You placed the emphasis on extreme but I’m actually based off on your answer. You could also put the emphasis on the word “passive.” It sounds much more passive than being a landlord.

Jeff: Oh sure. Absolutely. As a landlord, you got to do the whole process. You know, I mean, it’s just. Yeah. You’re right. You could put the emphasis on not only on extreme but in extreme passive where you’re literally you’re going through your mailbox every morning, picking up a check.

Matt: Nice.

Jeff: That’s how passive it is. You know?

Matt: Great. So when you go to the mailbox and pick up your check. You’re done with you work day around 12 o’clock, 1 o’clock, or 2 o’clock, what does Jeff do when he is not working?
Jeff: Well, I pitch squash tournament. We pitched small or large bats tournament. My number one hobby is bash fishing. You know, I read bash-fishing magazines. I watch bash fishing television tournaments and stuff like that.

You know once every other month or so, I join fish tournaments myself and try to learn as much as I can about that but. I do that for fun. I don’t mind watching football on the weekends and you know hanging out with my girls. My girls are getting older now.

We do stuff together as well. We go snow skiing as travelling and stuff.

That’s kind of what we’re doing in the off time. That’s kind of what I do for fun.

Matt: I mean that’s what really this real estate investing is all about it. Isn’t it? Being able to do that?

Jeff: Yeah. Just having the flexibility like, you know, last weekend we go to an audition in Arizona so I went. I mean, it wasn’t even a question of whether we could or not. It was just okay well let’s go so we did.

To have that kind of control over your time in your life is really nice. It’s something that I’ve really gotten used to over the years. It’s something that my daughters expect, you know, I’ll always be going to be there. Do what they want to do.

Matt: Well, Jeff, it’s been an absolute pleasure of having you on the show today. Just a final question, what is in your future right now that’s gets you really, really excited about?

Jeff: Well, I’ve been in this business for 20 years. I’ve been teaching my own workshops and class for the last 15 or about 19 years. We’re really excited for some new programs we are coming out to help people get into the business.

Work on being a successful, ethical, moral note business. We are really trying to go that route to whoever that is interested in being in note business that they learn how to do it properly. There’s just too many people out there that are not or don’t have a clue as to what real estate is or what it takes to be successful in the note business.

We are really excited about you know the next few months. We have a couple of new programs coming out. Just being able to pass on that knowledge, you know?

I had, I don’t know if I would call him a mentor back then but I kind of call him a mentor now. There’s always someone that I had in my beginning years or someone that I can call and ask questions to and stuff.

You know, I like being that person that can help someone you know change the direction in their life. I’ve been doing that for quite awhile. I do what I have time for. You know, remember I’m a one-man operation but I’ve helped dozens of people or maybe more than that.

To be successful in this industry and I really continue to strive do that as well especially with the way the market is going. We really do anticipate quite a bit of business out there in the next year or two or three years. It’s really the primetime to be in this business. We are very excited about that as well.

Matt: Awesome. Awesome. So if someone listening right now is intrigued. They want to learn more about this extreme passive income. I was going to ask where you would direct they go learn but it sounds like you got something coming up. How would they get in contact with you?

Jeff: Well, they can go to our website at ArmstrongCapital.com. www.ArmstrongCapital.com. Click on note brokers. Also click on Secrets of Paper or shoot me an email at [email protected] That’s the best way to get a hold of me.

Matt: Perfect. Not everybody does that so thank you for being generous of your information, Jeff.

Jeff: Sure.

Matt: I’d love for you to come back and discuss more and share more and share with us how the business is actually going. See if any of the predictions that we made today actually come true. Would you be open to that?

Jeff: Oh yeah. Absolutely. Next time we will talk more on the investing side that’s been on the broker side and see how it’s going. Sure, that sounds great.

Matt: Perfect. I didn’t even know that there’s even another side so we’ll definitely do that sooner than later. Okay, Jeff. Thanks for stopping by. We will chat soon.

Jeff: Alright. Thank you, Matt. Have a great one.

Matt: Thanks, bud. You too.

Awesome call. Hopefully you got a lot out of that to give you a different perspective or different view of a different niche that’s not too commonly discussed or not too commonly taught or even talked about.

Jeff and I were actually conducting a few live one-day event in Southern California this year and into next year called “Cash or Cash flow?” of where we will be showing people how to travel the path of the millionaire real estate investor and a very quick and efficient manner by generating large chunks of cash and then showing them how to convert it into cash flow.

If you want to get more information on that, you can do so by visiting CashOrCashflow.com. CashOrCashFlow.com.

Okay? So that’s it for today. Great questions. Until next time. As a very wise person once said, “if your business doesn’t create residual income, you don’t have a business.”

To your success, I am Matt Theriault. Living the dream.

(Voice Over): Thank you for spending this time with Matt Theriault and the Epic Real Estate Investing podcast. When you have time, stop by iTunes to leave your comments and let us know what you think of this show. And if you haven’t done so already, get started investing today by visiting FreeRealEstateInvestingCourse.com to access Matt’s free course on how to deals, no money required. Until next time. To your success, to your success, to your success.

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Matt Theriault

Real estate investor and educator.