How to Invest Out of State on Steroids | EREI 34

How much you make investing in real estate is ultimately limited by your personal creativity. On today’s episode, Matt is happy to welcome one of the country’s most creative real estate investors, Ryan Burk of GreenHabbing101.com.

In this interview with Matt, Ryan describes the special secrets and strategies that allow him to invest in properties located in several states (none of which he actually lives in!). Ryan is a great guy with a great business — you’re going to learn a lot, so enjoy!

 

Recommended Resources:

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  • 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.

 

 

Podcast Transcript:
(Voice Over):  Epic Real Estate Investing Podcast Episode 34. 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 build wealth through creative real estate investing so you’ll have the option to realistically retire in the next 10 years or less.  I want you to enjoy the good life while you’re still young enough to do so.  That’s why we’re all here.

My name is Matt Theriault, author, full time real estate investor and proud family man.  If this is your first time listening to the show, welcome. I’m glad that you’re here.  You may want to do two things.

First, go back and listen to episode one for the ground rules of the show.  Two, download the Free Real Estate Investing Course – How to Do Deals, No Money Required.  You can get that for free at FreeRealEstateInvestingCourse.com.  Just like it sounds. No dashes, no funny spellings, nothing.

FreeRealEstateInvestingCourse.com. It’s a step-by-step course of where I unveil the mystery around doing deals with no money or credit.  That’s yours for free at FreeRealEstateInvestingCourse.com.

Okay.  On today’s show, I am joined by a very creative real estate investor and when I say creative, I am speaking of how he got started investing in real estate.

It was a very different way. I mean it’s a very different way to break in to the business than what we commonly discuss here and what you probably heard of before.

And it just goes to show you how many different ways you can make your money in real estate. I love this business.  There’s so many different ways and really your income is only limited by your own creativity.

And today’s guest has raised the bar a bit when it comes to creativity.  He raised the bar a bit when he runs his entire business in multiple states but lives in another where he doesn’t conduct his business.

He’s got one simple answer as to how he does it but you know I’m going to let him explain how that all works.  Okay?  So get your white paper and blue ink to take some notes.

On the phone today, I am joined by Mr. Ryan Burk.  Ryan, thanks for taking time away from your very busy schedule to join us here on the Epic Real Estate Investing podcast.

Ryan Burk:  No problem, my friend.  Thanks for having me.

Matt:  You bet.  You know, I invited you on today because you have a very unique or different approach in what we’ve usually discussed on the show. I mean most people come on the show; they’re just getting started.

They just want to learn how to wholesale. They’re thinking about quitting their jobs. They want to take on real estate investing as a profession or a new career.

And so that’s what we’re always talking about is going from the wholesaling to the fix and flipping and the buy and holding ad just very traditional avenues.  You’ve chosen to take a very untraditional avenue right from the beginning, which was actually very impressive.

I know you’ve been very successful. I want to talk all about that but can you just kind of start how you got started investing in real estate?

RyanYeah.  Definitely.  So I was originally working in corporate America prior to real estate investing and was really just sick and tired.  I was in the top position overseeing about 300 people.

I was working there for a week building someone else’s dream, making someone else wealthy, feeling cheap and under appreciated and I really wanted to get out so, about 7 years prior to that.

I was caught in the real estate market whether the market is going straight up. I ended up buying a house that I was going to buy and hold when I was 20 years old.

And because the rest of the market was going straight up, before I even closed escrow I had to offer to sell the house for $20,000 more than what I bought it for in less than 30 days.

At 20 years old, because that was $20,000, that was a lot of money. I decided to do it and so sold it. I never really felt more about real estate. As I started getting into the corporate world, getting up the ladder, and starting to feel sick and tired.

I started thinking back to how could I actually replace my income and get my time back.  So I started looking back on that deal that I did and I didn’t know what to do at that time.  I made $20,000 so I thought, God, I’m great at real estate. I’m should just go back to real estate.

Unfortunately that was in a market going straight up so I’d go back to real estate and mistakes. I ended up actually buying about 6 properties all over the country, foreclosing all of them.

Matt:  Wow.

Ryan:  I didn’t have the knowledge. Then I ended up finding a mentor and learned how to do this the right way.  Since it’s been a kind of, amazing journey.

Matt:  Right.  Awesome.  So that’s how you got started and you’ve got a unique business model.  Can you tell me about what you’re doing today and how that came about?

Ryan:  Yeah.  Definitely.  Definitely.  Other pretty unique business models with for the fact that I have a virtual business so I do deals virtually all over the country using about 3,000 miles away from where I live.

Just basically for the simple fact that I figured that if I could put the right systems in place and make money 3,000 miles from the market that I’m actually doing deals in.  It didn’t really matter where I was. I can be out of the country, you know, doing whatever it is that I want to do and start making money and so.

Other virtual model in about 2 ½ or 3 years ago, I got into something called “Green Habbing” which is a very unique business model.  We’re literally forcing appreciation on our residential picking list or on our appraisal by minimum of 10% so our appraisals are coming in 10% higher than any other concurrable on the property than it would have come in any specific green retros that we’re doing.

They’re getting 10% higher rents on our buy and holds.  So from our tenants by say, 20% to 30% a month on utility costs and we’re leveraging the government for up to 40% back of our rehab costs and the stuff to be doing anyways to cash credits and cash rebates.

So it’s pretty unique business model that’s really cutting edge right now.  There are not many people doing it.  That’s one of the main reasons that we got into it. I always love doing green but there’s hundreds and thousands of wholesalers out there.

There’s hundreds and thousands of rehabbers out there but in mixed marketing, you have to have a competitive edge.  You got to have competitive advantage and this is really something that allows us to be making more profits, save the planet, and really have virtually no competition in our deals.

Matt:  Right.  Right.  The competitive advantage is certainly an advantage today. I would say probably more times than ever. So when you are, are you specifically buying and holding for yourself?

Ryan:  Uh, yeah. I do. I buy and hold for myself. I have a pretty large portfolio that I have.  And then I am also purchasing properties, green habbing them, putting tenants in them and then I sell those investors looking for cash flow.

And really over the last year and a half, all of my customers have come internationally. Some come from Australia, China, there’s Columbia and the UK.

Matt:  Got it.  Got it.  What markets are you in right now?

Ryan:  I’m in Memphis. I’m in Florida and I’m in Detroit. I do a lot of stuff in Detroit. I’ve actually gained over 400 transactions in Detroit.

Matt:  Sweet. How did you stumble across the whole green angle?

Ryan:  My wife and I are firm hab. We give tips of education, personal development, and self-mastery.  We sent over 6 to 8 years in mentorship and coaching.

One of the mentors that we got involved with in entrepreneur type of school where we’re going in and coaching with different entrepreneurs in different fields.

One of the features was teaching a class called Conscious Populism. Originally I didn’t want to take the class even though being green in my personal life is important to me.

I always thought that if I gotten my business life, I would lose money.  It would be way too expensive. I couldn’t realize that was one of the biggest misconceptions to green.

If you know how to do it properly and you don’t overgreen, you actually increase the profits.  It’s just like rehabbing where you talk to a lot of people that it’ll a pulse of the market or the neighborhood to go into over rehab so they actually end up losing money on the deal because they’re not good at looking at the competition losing what that neighborhood calls for or rehabs are concerned.

It’s the same thing with green. And so we quickly linked up with this, our teacher, and we actually hired him as our chief green officer to come in there in our company and really just show us how to start doing or operating our business from a green fashion and how to operate it as we like it to call it, tree house capitalist.  We started implementing the strategically green hab or green rehabbing.

Matt:  Awesome.  Awesome.  You know there’s a saying in real estate and you hear it frequently that, you know, don’t buy anything if you can’t drive to it.

Obviously you’ve ignored that and you’ve been very successful by ignoring it.  How have you been able to set up your systems and your teams and stuff from so far away?

Ryan:  Well I don’t want to paint you blue skies. I only used it in the fact that I’m very successful upfront. The reason, the whole idea is you don’t want to purchase real estate not unless you can drive to it.

Initially if you don’t have systems in place, if you don’t have systems in place then that’s really the conflict to any business.  In my opinion, save yourself time, energy, money, stress, and insanity.  You got to have systems in place.

But on that same note if these properties are close enough for you to drive then that generally means you’re a technician inside of your business which means you’re going to act on these projects quite often.

In fact a lot of people are managing their own project and then what happens is instead of being able to elevate yourself into entrepreneur, your technician is stuck inside your business as opposed to being able to work on your business and work on multiple projects and work on multiple businesses by having the right systems in place then having the right people in.

So what I had to do over the years is build a team in this specific markets I am working in, build a specific team, put the systems in place. I had to spend some time out there, you know, going back and forth to do that.

But once I was able to put the right systems in place and the right people in place, you know, last year in 2011, I did 104 transactions in the Michigan market. I only fly out there once so it definitely paid off but I definitely had to put a lot of hard work into it so I made a lot mistakes.

Matt:  Don’t we all?  Definitely.  You know, working virtually certainly has its perks.  It’s a dream of so many people these days when they hear about people working virtually and having the time, freedom.

I know you just had a daughter and you’re able to spend more time there and you’re able to travel and work from anywhere. What are some other things that you’ve noticed, uhm, that you like about working virtually?

Ryan:  I mean one thing that I’ve noticed is that most of us have a little bit or a lot of control freakiness.  And you know, again we have things that are going on in our backyard.  It’s very easy to grasp all the control of everything and not just kind of sitting back and allowing things to happen as opposing to forcing things to happen.

One thing like creating virtual businesses is that it’s done for me and for my family that’s allowed me to relief and relinquish control and have to, kin of, sometimes put trust in other people which has allowed me to grow my business and learned a lot about myself as well.

So I was, you know, being able to not always having to control and force leave half of a certain way and learning how to, you know, sometimes even just to detach myself from the outcome of how things are going to end up showing up.

Obviously, I’m clear and I have intention of how I want things to happen but if they don’t happen that way, it’s allowed me to learn. I have to gain cash from that and always be in the field state where I can then respond to the situations than to adversely act on the situation.

Matt:  Right.  Right.  So that’s some personal development benefits from working virtually as well?

Ryan:  Anytime.  Anytime.  I feel like for me it has allowed me to find the potential within myself that I really didn’t know I had and really start becoming a better version as well.

Matt:  Oh that’s awesome.  That’s awesome.  You know, I’m a big believer that if you’ve got a good management team and you got a good rehab team.  You know, real estate investing is pretty difficult to lose money in.  Those seem to be the two places where people lose their shirts, so to speak.

When you’re out building your team, when you’ve put your systems in place.  I’m specifically speaking of the people that you’ve put in place inside of your system, how did you go about finding them and how did you, and what are some of the things that you look for in the people that led you to ultimately believe, yeah this is the guy or this is the girl?

Ryan:  Well ultimately, you know, I believe as a real estate investment company. You have two; well basically you have three keys roles that are the lifeblood of your business.

The first key role is finding good agents and brokers to work with that are either investor-friendly or are open to learning the investment game.  Obviously creating relationships with REO agents have been very crucial with me and really understanding the REO process and what they actually go through on a daily basis and how much money they have to come up out of pocket on a daily basis before this listing even comes to the MLS or makes it to the MLS from you know, the second key roles obviously having the right contractors in place. Then the third key role is having a good project manager.

So I have systems and checklists in place for what I’m looking for in each and everyone of those roles. Obviously, you know, right off the back when I’m interviewing someone.

The very first thing that I do is I let them know who I am as a company, my company goals, and from there I lean into the benefits of their company if we decide to work together.

Obviously the first benefit is I’m going to be able to provide them a lot of business that they can operate the right way.  We got no marketing cost to them.

And I’m also going to be able to offer what I call “Business Building Assistance” because I grow things pretty quick.  If they want to keep up with me, they’re going to have to grow their businesses as well.

So I help them implement systems into their business as well but one of the very first things that I, when I’m interviewing someone when I talk more about it. I asked them what type of systems do they currently have in place right now in their business that allows them to be more organized than their competition?

What systems do they currently have in their business right now that allows them to operate on a more efficient basis than their competition?

Of course I am looking for people that are coachable.  They can take good direction. I am looking for, you know, integral people that have credibility and have some, obviously, have some quite a few referrals that they can refer me to as well so that I can contact them and see what their experiences are as well.

Matt:  Got it. So you’re a big believer in systems right?

Ryan:  System management.  It’s all about systems.  There’s one book I recommend reading, “E-Myth.”  I have read it.  It’s written by Michael Gerber.  It basically talks about you as a reader, technicianing your business, you’re managing your business, or you’re an entrepreneur in your business.

And for most business owners who are self-employed were technicians inside of our business.  Think of how many times you’ve gone to a Deli and the person that took your order, made the sandwich and rang you up, then served it to you.

You can tell they own the Deli.  You can tell they opened the Deli.  You can tell they closed the Deli and you can tell pretty much they aren’t happy about it as well.

Matt: Right.

Ryan:  And that’s kind of their life, you know, and so I’m a firm believer of not being a technician outside of your business.  Obviously you need to be a technician at first and learn the system but you can find your people to make sandwiches at your Deli for an hourly rate.

Even though you might make less money because you’re giving them some of the income that’s coming in.  Eventually even though if there’s someone who can manage the systems and from there become managing master, becoming a manager and then from there, we can create management system in place where you can hire someone to come in and actually manage the person that’s making the sandwiches at minimum wage.

Even though you’re giving up more money and you’re not making much money now that you have a technician in your business and you have a manager in your business. Now you’re an entrepreneur with systems, you have your time back and go can start a new Deli and do the same thing with the same systems.

Then you do it again and do it again. So you have one technician that is stuck inside of your Deli making $50,000 a year then you have an entrepreneur on 10 Delis.  Even though each Deli is bringing in $20,000, he has 10 so he is making $200,000.

Matt:  Right.  Right.  Awesome.  Let’s, take me through kind of like your thought process and your procedures, how did you name three markets: Memphis, Florida, and Detroit? How did you decide on those three markets? What were you looking at for those three?

Ryan:  Well the way I ended up in Detroit actually was about five years ago.  Someone has come to me, asking me to be a private lender on a dealer. I took a look on the deal. It looked like a good deal and I decided that, hey, let’s turn up on this deal. I’ll go raise the money from someone else.

I’m a firm believer and even thought it’s people’s money on the deals, even if I have it available and so then I ended up doing some of the deals.

Before you know it, I made a lot of mistakes but was able to learn from my mistakes and create a very turn key system where Detroit, I’m stuck there because I have some of the lowest price points in the country and some of the highest rents.

And because there are so many international investors from the US, buying real estate, that’s one of the hottest markets, they look at.  Another one is Memphis; they’re buying properties in Memphis.  Memphis is a great market. I know you deal there as well, Matt.

It’s a great market for a couple of reasons.  Obviously, you know, FedEx is there.  AutoZone, I mean big corporations, headquarters are there.  It’s also, you know, statistics just came out that show over 50% population are renters in Memphis.

Matt: Right

Ryan:  And because it’s just another great area where you can pick up properties on a lower market value and the rents are high enough to where we can get some great cash and cash return.

It made sense for me to start doing business there.  Then of course, Florida, which is the same I think with Memphis, is an opportunity.

What I did is I started researching and testing and measuring all of the international buyers coming in because not only did I want a virtual business but I want to build a business with customers that I really didn’t have to talk to.

It’s the same thing as national and in different time zones etc. It’s usually via email how we communicate so I tested and measured which market that they were coming into and from there I started building my businesses in those markets and then doing marketing to start capturing those leads online, hoping we are building the credibility and trust so that they would want to start doing business with us.

Matt:  Right.  Right.  Okay. So you got those three markets, you did over a hundred deals last year so you got a real good source of deals, how do you find most of your deals?

Ryan:  I do five marketing campaigns that I implement. I have my MLS offer system where I target 2 to 3 REO agents in the markets and tribulations.

I learned how to drive a whole system there renter, consistently working with them. They put in 20 offers a week of REOs.

I have bandit sign system.  When utilizing bandit signs to capture good leads, in fact you’re going to find out because I tend to measure everything and no one really does this and it’s a Ninja tip that I will give out there for a lot of you listening.

I’ve actually done bandit signs where you have someone standing in an animal soup on a side corner of a busy intersection, holding the bandit sign talking about pre-foreclosure.

You see that another industry but you don’t in our industry.  That’s one of my biggest lead captures which is very unique so that’s my second marketing.

My third marketing system is my direct mail marketing system where I have multiple campaigns. I really like buyer’s damaged properties because they’re easily targeted.

There’s no competition.  Most people found systems in place to turn those beautiful breeding properties again.

Most of the sellers, they’ve already collected insurance.  You can get big discounts. Then I have my social media and blogging system.  I also have my online lead capture system.  So through buyer system and five marketing campaigns, implementing them consistently generating leads and finding my gist.

Matt:  Awesome. Awesome. So are you running all of those on your own or have you outsourced that all of those activities out?

Ryan:  It’s a combination of outsourcing then I have software to track them. So I am able to outsource it and at the same time getting, for example, going around and posting bandit signs isn’t my highest and best use of time.

Matt: Right.

Ryan:  My highest and best use of time is being an investor and operating the system, and over viewing the system. Although I recommend starting out, doing it yourself, so that you can be in your business, learn those systems, create the route on the map.  Efficiently the route that you’re going to follow here, you’re going to implement the whole.

Then basically put them in place, overseeing them, then obviously have them do it and put the bandit signs up.  Then of course, a lot of people would say well, you know, I’m going to drive behind them and make sure they’re the right persons I actually putting the signs up.

You might as well get yourself.  So the one thing I implement is I make them take a picture every single time they put a bandit sign up. Everywhere I told them to put it up on my route and take a picture showing that it, proving that it’s actually gone up.

While those people are out there putting up bandit signs and have cameras, any house that looks like it needs work. Roof was overgrown shrubs.

Anything that I have to stop and take a picture then I’ll do is send a direct mail campaign to ask specific homeowners with a picture of their house on it, which always gets them to turn over and read because they’re like, why is someone taking a picture of my house.

That’s the key of direct mail getting to open and read it.  I generate a lot of deals on market as well.

Matt:  Sweet. Sweet. I was actually under the impression that you had a really good like one or two strong sources of deals whether that was through a giant organization type relationship or government relationships like that but you really find your deals just the good old fashion way.  Right?

Ryan:  Good old fashion way and systems in place. I mean I can talk for hours on each one of these systems because I can break them down and show you the intricacies of them but even just through social media and blogging.

They’re some of my best leads.  I can tell you that topping off with some Ninja tips for you.  LinkedIn.  We’ve done so much business in LinkedIn.  It’s unbelievable.

A lot of people think social media is they’re there to play Farmville or stalk your ex-boyfriend or girlfriend or maybe try to find a new boyfriend or girlfriend but if you learn how to make money, these social media sites for business you can generate a lot of leads.

Matt:  Right. I’ve heard that LinkedIn is one grossly overlooked and underestimated for business.

Ryan100%.  The average household income is $100,000 on income.  We are generally dealing with the CEO or president or the decision makers that you want to be in touch with.  It’s a very good social networking site to do actually business on.

Matt:  Right.  Right.  Cool.  So you’ve got these amazing systems in place and they’re working round the clock and the leads are coming in.  Do you actually speak to the leads personally or how do you filter the leads?  Separating the prospects from the suspects so to speak?

Ryan:  I actually started out doing that then of course I created a system on how to take the leads through seller lead interview sheet, etc.

So now I have this system in place, I have other people in my business that are taking the leads and you know there are specific things that we do prior to making an appointment to go see the property and make sure it’s not a waste of our time and if it looks like, you know, 10 minutes of do diligence from which I can potentially be there.

We will actually set the appointment and then usually when the appointment is set then I will take over and go meet the actual seller and we go look at the house.

Matt:  Got it.

Ryan:  Or if it’s in a market that I’m not in then I’ll let my project manager do it.  They’ve been trained very well.

Matt:  Sweet.  Sweet.  So you got a lot of people working for you.  A lot of people in the system, how many people would you say you’re employing right now?

Ryan:  Uh, close enough to 10 but I don’t actually have any employees.  They’re all independent contractors.

They all have skin in the game meaning they all get a percentage of the completed deals.  So we’re able together as a team and make sure we can finish the end products so we can all get paid.

Matt: Right.  Right.  So that’s all a performance-based type of compensation?

Ryan:  Correct.

Matt:  Sweet.  So okay, the lead comes in. You acquire the property and then what’s next after that?

Ryan:  Once we acquire the property and the lead comes in then it’s up to us.  It’s really importance for us to really look at what our exit strategy is going to be so that’s either going to be green habbing the property or green habbing and buying and holding it or wholesaling a property where we basically just purchase it below market value to absolutely with no work on it then sell it below market value.

Rent to own or something called pre-habbing where a lot of times just another Ninja tip for the audience out there. There’s a lot of times you can pick up a home, for example as an REO that, you know, haven’t been able to sell because of the half is not in a mortgageable condition so it has to have a cash buyer.

Because we’re experts and can give assistance inputs, we can go in and realize that it only happens every $2500 away from being mortgageable so we’ll put the $25,000 into it and all of a sudden even though the house is going to be rehabbed.

We can actually open up a buyer-based to retail buyers that can actually make financing to purchase this home.  We call that “pre-habbing.”  It’s kind of like in between like the wholesale and the actual rehab.

Matt:  Got it.  Got it.  Where, with the green habbing thing, where do you see, I guess what are your long-term plans?  What do you see for the future with that?

Is that something that the government is going to continue to support or do you see that or are you concerned about the election?  What types or things do you think of long term for your strategy?

Ryan:  I mean as you’ve all noticed people are going further and further and further towards green.  The government, companies, etc, they’re talking on the next three to four years is that there’s something called the building performance energy labeling program, which is going to be made mandatory.

Prior to selling our house, we have to have thermal and audit performed on our house to show how efficient or inefficient they are.

Then basically to have a label on our house just like car dealership. They put labels on car windows.  They tell how efficient the car is, talks about the estimated fuel costs for the year.

Same thing with homes and what they’re talking about is that if your home doesn’t measure to certain efficiency, you won’t be able to sell it over a certain price even if market value calls for it.

So this is something they’re talking about the EPA is going to be enforcing the governments involved.  That’s definitely the way the future.  It’s cutting edge right now.  Not too many people are doing it so I highly recommend getting involved in it and adapting to it now so that you might become the trend.

You’re on top of it.  You are there established as your local real estate locks on your local market.

You’re the “go to” person for these things because once you learn these things then you can start consulting with other investors in your area that are currently doing projects.

You can show them how to add a minimum of 10% profit on their deal when they do the green strategy.  You can demand a premium for that knowledge.

Matt:  Right.  Right.  Well you’ve got a great grasp on this. I know that you mentioned in the beginning that you know you made a lot of mistakes.  What are your three biggest mistakes that you would warn someone about coming into this business?

Ryan:  Three biggest mistakes I would say is (A) not utilizing enough leverage and thinking that if I did a lot of things myself.  It would actually save me money, which is true.

You could save money on one specific deal if you are doing a lot of things yourself but then again you are your technician inside of your business so with all the marketing campaign in place.

It’s two or three or four more deals fall on your lap.  If you’re stuck in the middle of one project, doing the work yourself to save the money, you’re going to miss out on three or four deals because you can work on so many projects yourself at a time.  So you would think that you’re saving money but you’re actually losing money versus having systems in place.

Becoming an entrepreneur can be covered in these systems and never being a technician and having technicians in your business that you can oversee so you can do as many deals as possible.

Second mistake would be again not using enough leverage.  So the first mistake would be not leveraging other people’s time.  The second mistake would be not leveraging other people’s money using my money because again even if I have a million dollars of my own money, there’s so many deals that I can do and only so far with my $1 million is going to take me where my $1 million is tied up in 5, 6, or 7 projects and 5, 6, or 7 more to come on my way. I can’t do it.

My money is the technician of my project where I learn how to leverage project money, use other people’s money on my deals, and then my money that is available. I can lend other people money on their deals and not just trade another income stream for myself.

I do unlimited deals of leveraging other people’s money and then certainly not leveraging the power of the Internet quick enough. Ever since I mastered all of my marketing. I opened my business globally and it’s the miracles of my business.

Matt:  Right.  Awesome.  Awesome.  So someone just getting started, I’m always curious.  I really like interviewing real real estate investors on this show to get real world experience and advice and examples.

What do you say is the most important or maybe there are two you can think of or maybe even three skills that someone getting brand new in this business should focus on developing?

Ryan:  Well right off the bat, I would say the biggest skill that you need to develop is that you got to be coachable.  You got to be coachable especially in this business.

It’s even easier to use a lot of money and if you’re not open to getting a mentor, being coached in all aspects of the business whether it’s becoming a better version yourself through self-mastery or whether it’s rehabbing or whether, whatever it is.

You got to stay open.  You got to stay coachable etc.  Another skill set that obviously you want to have coming in this business is you want to understand that, you know, as real estate investors, we are solution providers.

So basically what that means is you have to understand that a lot of times you are going to insert yourself into other people’s problems.

And sometimes you can get caught in other people’s problems so you have to give more into growing your mind as well and becoming the right content in your mind utilizing self mastery so that you can concern yourself with other people’s problems, provide the solution and not get stuck and not get caught up in it to where it controls you and controls your state.

You definitely got to stay open to that. And the third skill set and I kind of mentioned this before.  Even if you’re not technology-savvy, you got to embrace technology.

You got to embrace the power of the Internet and start learning the skill set of the Internet because that’s where the majority of my buyers come from, that’s where the majority of my sellers come from.  It’s through my online lead capture system, my social media, and the blogs.

Matt:  Right.  Right.  Awesome. Yeah.  Every time I ask that question, I get very similar answers.  It’s not the skill is to go and learn how to perfect direct mail or how to put a bandit sign or how to fill out the contract.

It’s so much personal development in this business and having the right mindset and being to get up every single day and deal with the challenges and you talk about your state.

One thing about this business is you’ll experience every possible emotion that a human being is capable experiencing in some time or another and probably multiple times so definitely.

Ryan:  100%

Matt:  Yeah.

Ryan: Yeah. I mean I’m a firm believer, Matt. You know, a lot of us we get into this business looking for that most prime piece of real estate but it’s really in between our ears.  It’s our brain.

And as investors, we look at everything as an asset or liability.  Assets are something that you can put money in your pocket.  Liability is something that is going to take money out of your pocket.

I’m a firm believer that our brain is either our biggest asset or biggest liability.  It’s either making us money on a daily basis or for a lot of us, it’s continually costing money.  It’s pulling money out of our pockets every single day. Unconsciously, we don’t realize it.

Matt: Right.  Well put.  Well put. So here’s the famous question, Ryan. If you were to lose everything today and had to start from scratch tomorrow morning, what would you do? How would you get started?

Ryan:  Well luckily because I created systems and checklist every single aspect of my business. I would just start from square one.  Obviously I would start, if I were to continue build my business again the very first thing I would do would implement my five marketing campaigns.

Obviously, education is foundation to success but marketing is the foundation in any business.  Without marketing and the right marketing systems in place, you have absolutely nothing.

I would die directly vacuuming my five marketing campaigns so I could start generating more leads in time and then of course with the lead in acquiring the properties from the exit strategies. So for me, it would be right back into my marketing strategies.

Matt: Another huge advantage of having systems because if you do lose it all, you still you have your systems.  You can still implement them.

Ryan:  That’s the thing. People can, you know, money can come and go. Like it’s funny because I’m a speaker and trainer. I go all over the country.

I coach people on real estate in three-day events. I ask people. I say, time is what? Everyone would say, money. They always yell out money.

It’s funny everyone says that because that’s what we’re trained to trade time for dollars so we feel like time is money, but in my opinion time is everything because you can’t get it back.

Money comes and goes. You can use money. You can make money. You can lose it. You can make it but you can’t get your time back and so really, if you lose everything, if you lose money, people can take your money from you but they can’t take your knowledge.  They can’t take your systems.

Matt:  Right. Right.  Sweet. Awesome. Great interview today, Ryan. Thanks for joining us. I know you’re extremely busy but thanks for blocking up this time.

I know we’re both playing Mr. Mom today so we’re trying to coordinate the kids’ naps. It looks like we’ve successfully done that.

You know, if someone wanted to learn a little more about what you do and wanted to look into purchasing one of you turn key green habbing properties or something like that. Where would you direct them to?

Ryan:  There are two places that I would direct them to, Matt.

Matt: Yeah.

Ryan:  The first place would be greehabbing101.com. That’s my blog. That’s where we’re consistently blogging three days a week, educating people of these green habbing strategies.  You can go directly to greenhabing101.com.

You can request your free copy of our e-book that outlines our system of green habbing. Then you can consistently get education and then on top of that if you want to learn more about mastering yourself and mastering real estate and mastering systems, you can check out www.InTheNowMasteryCoaching.com.

There is a 30-minute video that basically you can watch that’s going to explain how to build a real estate business, how to put systems in place, and why systems are so important for your business.

Matt: Sweet.  Sweet.  Awesome. I’m all out of questions. Is there anything I should’ve asked but I didn’t, Ryan?

Ryan:  I feel like you’ve covered it pretty good. You know, I just want to thank you for the opportunity. I think what you’re doing is awesome. I know that you’re building the systems as well.

You’re digging into education and creating value for your audience and you know, I just want to commend you for that, for taking time and staying committed and focused to seeking out the most successful entrepreneurs out there and getting inside their brain and giving your audience enough opportunity to get inside their brains as well.

I think that’s really commendable. I know it’s just a huge part of you and your life’s success. I know that’s why you guys are keeping successful so I do appreciate the opportunity and I look forward to doing it again at some time with you.

Matt:  Awesome. Absolutely.  Definitely. We’ll have you back. Yes. I guess that’s it. You have an awesome day.  We’ll chat soon, Ryan.

Ryan:  ‘Bye, my friend. Sounds good.

Matt:  Take care.

Ryan: You too. Bye bye.

Matt:  Awesome interview. Word of the day, I would say would have to be systems. You know, in the spirit of Robert Kiyosaki. A properly structure system will empower your business to run with you or without you.

That’s what really defines a true business owner and ultimately creates your financial freedom so today I want you to look around your business. What’s there that can be turned around into a system?

What do you do consistently? What is it in there in your business that consistently requires your presence? Where can you delegate that? What’s there that you can delegate or outsource? Perhaps your lead generation?

I mean if you’re not outsourcing your direct mail or don’t have plans to do it very soon. That would be a great place to start with the system.  I mean writing letters and stuffing envelopes and stamping postage on the envelope is not the highest and best use of your time.

Let’s see.  Another place to look is in it is to create a system would be in your admin department. I mean are you handling all of your paper work? I hate paperwork. I don’t handle that.

Or do you have a transaction coordinator like me do it for you? Again, paperwork is not the highest and best use of your time.

You are more valuable elsewhere like talking to motivated sellers and putting the deals together.  That’s where you are directly compensated.

And if you can systematically or continually progress towards to a place where you can put yourself into a position to focus your energy on just those tasks. You will not just be directly compensated. You will be greatly compensated.

Just a food for the thought. Okay. Probably a good topic for a future show and maybe I’ll put it together soon. I’ll probably will.  All right. That’s it for today so until next time.

As a very wise person once said, “surround yourself with the best people you can find. Delegate authority and don’t interfere as long as the policy you decided upon is being carried out.”

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

Testimonial:  Hey, how’s it going, Matt? I just want to send you this quick little message. I don’t know if I told you this but I spent so many thousands of dollars on like different real estate programs and seminars and really didn’t teach me a whole lot. But I got to say, you’re Academy has been a real breathe of fresh air.

I had just been, I mean I actually take things pretty quickly but I just had been failing so long in real estate business after months in the game. So I sold my first property which is kind of hurt my confidence a little bit but after applying all of the techniques that you taught me.

I was able to adjust that to get my first property going so I got it. I used your three-offer option technique. I got my second property actually in escrow right now so it just feels really good to be amongst, you know, the successful versus the unsuccessful.

It just feels really good that I’m actually, you know, making this steps and kind of starting to live out my dreams of my financial future. So I got to say thanks again. Your Academy is great.

I highly recommend it to anybody who’s interested in making money in real estate. All right, Matt.  Thank you again. Have a good one. Bye.

(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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