On today’s show, Matt goes carefully through the process of managing the necessary paperwork in a wholesaling transaction. He also has a discussion with a coaching client who didn’t end up meeting expectations. The client’s experience taught him a lot about what is required for success in real estate investing, and he shares the lessons he learned with listeners. As you’ll discover, you can learn extensively both from people who have succeeded and from those who are still in pursuit of success. You’ll love this can’t-miss episode!
Check out Matt’s free real estate investing course at https://www.FreeRealEstateInvestingCourse.com.
NEW ANNOUNCEMENT: CashFlowSavvy.com has opened for business in St. Louis, an amazing cash flow market. To find out more, get a free investor package at CashFlowSavvy.com.
- 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.
(Voice Over): Without further delay, your guru, sorry, your guide to a better life through real estate investing, Matt Theriault.
Matt Theriault: Hey, this is episode 48 of the Epic Real Estate Investing Podcast and this is Matt Theriault, the rat race escape artist.
Changed one thing one time and you too can escape the rat race for good and that one thing is, it’s my new mantra by the way, and has set me free and can set you free too.
And it is stop focusing on making money and start focusing on creating cash flow. Residual income. That’s where it’s at. It’s the new definition of wealthy. Cash flow is the new black so to speak. It’s the new definition of financial freedom.
It can be yours too in just a change in your focus, just a slight shift in your focus and then the action corresponding with that focus. If you want to get started today, I will show you exactly how I did it. I will show you for free.
And download the free course, How To Do Deals: No Money Required. I’ll show you the two easiest and fastest so you can start making some cash so you can turn that into cash flow.
Those are the two easiest and fastest. Not to be confused with easy and fast. Okay? I’m never going to tell you that this business is easy and it’s get rich quick.
But they are the two easiest and fastest strategies in real estate to start making some cash so you can start turning that into cash flow.
That course is yours for free at FreeRealEstateInvestingCourse.com. All righty. I’m coming to you live from downtown St. Louis. Maybe you can probably hear it in my voice.
I’m sure you can but I am sick once again for the third time in three months. It’s getting very annoying but you know I just decided to ignore and go on about my business.
So here I am in downtown St. Louis. Check it out, a new market for my turnkey, cash flowing operation. CashFlowSavvy.com. I’ve been out here for a few days actually two days.
Hang out with podcast listener and coaching client, Brad Dunley. Brad Dunley lives here in St. Louis. He runs Einstein Cleaning Services.
They do carpets and hardwood floors with finishing, janitorial, work. They are the genius in cleaning. That’s their slogan. I think it’s pretty clever but Brad has been really awesome.
A big shout out to you, Brad, by the way. Thank you very much for your hospitality and sharing your local knowledge with me. Thanks for taking me to your family restaurant as well.
Joyce, the hot salami was off the hook. So if you happen to be here in St. Louis, St. Louis is where Brad’s restaurant is. I highly recommend you look up Brad’s restaurant and Joyce’s.
Stop by and get one of their famous hot salami sandwiches. No. That’s not a commercial. That’s just my personal endorsement. We haven’t changed anything here on the show but the Joyce’s was off the hook.
So thanks, brad. Thanks you very much. Over the last couple of days, I’ve taken a tour of the market here in St. Louis and assembled two awesome teams of which I’m ready to open up shop. I’m ready to open up shop here within the next 7 to 10 days.
That’s how much this market has impressed me and the people I’ve been able to meet. I mean the cash on cash returns are strong. You can still purchase well below replacement cost.
The demand for quality rental properties is actually very higher. This is a market very similar to Memphis. We’ve had an awesome run in Memphis over the last 9 months or so and we’ll continue to.
I mean Memphis is still going strong and we aren’t leaving. We’re staying there. And we’re just going to continue to diversify, creating a very stable portfolio for ourselves and for our Cash Flow Savvy clients.
And if you would like to get more information on our turnkey cash flow investments in Memphis, in Columbus, Ohio, and now in St. Louis, Missouri. You can visit CashFlowSavvy.com. Download our free investor package.
I’ll show you how to invest in real estate at the Epic Pro Academy or I’ll do it for you at CashFlowSavvy.com. All righty. We got some new comments over at iTunes.
This comes from real prosperous. “Matt’s guidance and wealth of information make this process a very interesting and valuable path towards attaining true success. No BS.”
“I love that. Straight to the point and full of great recommendations and tools. Thanks, Matt. I follow this and your Do Over podcast religiously.” That comes from Felipe in Austin, Texas. Felipe, thank you very much.
SOJ Army – “Matt is awesome for sharing his wisdom. I keep giving him great reviews so more folks can enjoy and benefit from all the gold nuggets here.” Well thank you. SOJ Army. I appreciate that.
Then from Josh in Salt Lake City. He’s has a line of Snoop Doug carrying umbrella. “Full drizzle,” he said, “this podcast as well as how to do deals serious makes it rain with info to help you escape the rat race. It’s well worth your time to check it out. Matt freely gives a ton of info, scripts, and documents to help you succeed in real estate investing. Don’t miss out on this one.” Thank you very much, Josh, for that.
And then from Studio Mini, XO Recording Studio. “Thanks for all the great info. Please keep it up from New York City. Thanks.” That comes from Pete. Pete, you’re welcome. Thanks for the comment.
Last one, “great educational program” from Craig Foe. 5-star rating. “Matt, thanks for the inspiration. I’m under contract and completing my due diligence on my second HUD property.
I couldn’t have done it without the juice that you provide with your podcast. I look forward to the next one. Best of luck to you. buddy. Hope to cross paths with you soon.” Well thanks, Craig Foe, best of luck to you as well. and yes, I do hope we cross paths.
Thank you for your comments. Keep those coming. I really appreciate those. I received a very special email this week also from Randall Trazaska. Hopefully I pronounced that correctly, Randall.
You know, it wasn’t just an email. Randall actually attached a YouTube video. I know you can’t see it but I’m going ahead and play it for you.
“Hey, Matt. How are you doing? My name is Randall. I’m standing in front of my first ever house that I wholesaled. I got over here my check for $12,000. This feels awesome. I did it all. Thanks to you. Thanks to Epic Real Estate. I got an hour to commute each day. I listen to it all the time. Also, thanks for Mercedes. Every time I call with my question. Thanks, guys. You are awesome.”
You are absolutely welcome, Randall, and for sharing your success with me and everybody here at the podcast. And thanks for showing me your $12,000-check. I know you guys can’t see it but he had showed it on the YouTube.
Awesome. It’s so awesome. And you know, I was having a rough day, the day your email showed up. It just turned everything around my day significantly. It reminded me why I do what I do.
So Randall, stay in touch. Let me know how else I can help. Then on the Epic Real Estate hotline, I got a question from Russell in Minneapolis.
Russell: Hey, Matt. This is Russell from Minneapolis, Minnesota. I love the podcast. My question for you is where can I find a contract to do a wholesaling deal? Is it better from a lawyer or a title company? What questions do I ask to find that contract? Thanks.”
Matt: Thanks for the question, Russell. I don’t know. I don’t know of a specific wholesale contract. I mean real purchase contract is going to do the trick. So let’s discuss basically I guess that two different ways of which you can wholesale a property.
The first is where you find a motivated seller, submit an offer, and negotiate until there’s an agreement. Both would sign that agreement. Now that property is under contract and you are the buyer on this particular contract.
You don’t need a special contract for this. Any standard real estate contract would absolutely work. I show you inside the Free Real Estate Investing course how I filled out my contract to buy including all of my contingencies clauses. I gave you all of that which makes the real estate part of this whole thing, the transaction part very safe for you as a buyer contrary to popular belief.
If you write up your contracts correctly, you’re never really at any risk. I’ll show you how to do that in the free course. Now once you have that property under contract as a buyer and you’ll sometimes hear this referred as the A to B transaction.
But once you have that under contract, you will acquire a certain amount of rights there called “equitable rights.” Meaning you technically has some ownership in the property just by being under contract.
It’s a contingent ownership but it’s enough to where you do have some owner rights. And one of those rights are you can market the property. You can place an ad in the newspaper. You can place an ad on Craigslist.
You can blast out an email to your buyers list. You can do a postcard mailing. You can market the property looking for a buyer then once you find one, this would be your B to C transaction.
You will write up a Purchase Contract but this time you are the seller of the property. You’re the buyer of the A to B contract then you are the seller on the B to C contract.
And obviously this contract is going to be for a higher price than what you are paying for the property. and this too is just a standard, normal purchase contract. Like I said I show you where I get mine from, uh, in the free course.
Or you can just go to Staples or OfficeMax to their form aisle. They got them there. You can use the contract you find there. Nothing really special. Now you have your A to B contract with you as the buyer. And you have your B to C contract with you as the seller.
And what you want to do though is you want to make sure that everybody knows what’s going on. You got to be totally transparent with this process both your seller and your buyer.
You have to inform your escrow officer, your title agent, and your closing agent of what’s going on. And know to go ahead and they’ll just take those two contracts and they will coordinate the closing.
When the property closes, the difference of the buy price and the sell price, that goes to you so that’s one way to wholesale a property. Another way is to assign the contract, to assign the contract, it looks very similar to the first example I just laid out for you.
You want to get the property under contract but this time instead of writing in your name as the buyer. You got to write your name in as the buyer and/or assigned. Your name and/or assignee. And I’ve never really figured out the difference between the assigns and assignee. I think they’re basically the same.
I really don’t think there is a difference. But I’ve done it both ways and I’ve never had an issue. And everything is always, you know, turned out okay. So to do this, you don’t need a special contract but I did have one created for assigning a property.
It won’t ask for your name or for your email or anything. Just go there and click on the link. I think it’s called assignment contract. It will automatically download a PDF of a blank contract to your computer.
All right? So again once you have the property under contract, you can market the property. Now when you find a buyer, you don’t necessarily need to create a new purchase agreement. What you will do is you’ll complete a little one-page assignment of contract agreement of which you can also find at EpicProDownloads.com.
Just click and download that at EpicProDownloads.com. And both of those docs are for free to use. Now I must say, let me throw out a disclaimer there. I’m not an attorney. This is not legal advice.
I make no warranties or guarantees around the use of these contracts. You should have your own legal counsel to take a look at them first. That shouldn’t take very long or cost you too much or anything.
They’re short and they’re basic agreements in simple universal language. I got to put that disclaimer out there and you know have your professionals look those over before we put them into use.
All righty? As usual. I probably went into too much detail for the answer but hopefully Russell that does answer your question. No special contract that’s needed to wholesale at FreeRealEstateInvestingCourse.com.
I’ll show you the one that I use most frequently or you can go down to Staples or OfficeMax. You can probably Google “real estate purchase agreement,” or you can go to EpicProDownloads.com and download my assignment contract. EpicProDownloads.com.
So if you have a question that you would like for me to answer here on the show, you can call 1-888-891-7203. 1-888-891-7203. Leave your question there. All righty? 1-888-891-7203.
So today, I got another great interview for you with one of my coaching clients. He’s experiencing, he hasn’t been so good. Okay? But there’s still something to learn from it.
I’m sharing this interview with because you know he has been gracious enough to share his experience with you. I think there’s really just as much as to learn from great success as there are people that are going to be successful. That they’re still on their journey.
On the phone, I’m joined by Mr. Gabe Stockton. Gabe, welcome to the Epic Real Estate Investing podcast.
Gabe: Thanks, Matt.
Matt: Glad you’re here, bud. Let’s get started and just kind of tell me a little bit about yourself and your background and what you do for a living.
Gabe: Sure. So I’m a builder by nature. I started out as a laborer for construction company when I was like 16. And ever since then I was just in the building industry.
I work my way up into becoming a project manager for a very, very, very large national builder. And what we do is we build high-rise and mid rise apartments, luxury apartments.
So we’re currently building one in San Diego. I build that project for like two years. Before that, I just did one in Hollywood. And so yeah. That’s what I do. I build big new buildings.
Matt: Got it. So you do the actual building or how, what’s your role in the whole thing?
Gabe: We, we’re, we are, generally, what happens is the company will hire, you know, someone to come in and build it a general contractor.
Matt: Uh hmm.
Gabe: What we do is we own the property so we come in. We buy it. We’re the developer. But then we also self perform or build it so we have an in-house general contractor and that’s the side that I work for is the self perform division.
Matt: Got it.
Gabe: And yeah. As soon as they get it under contract and close escrow. We’re in there the next day with plans and permits and we start digging and pouring concrete and framing just all the way to finish and working with doing key turn overs to that property management company. From start to finish, we’re there.
Matt: Got it. So you said you’ve been a builder for a really long time, what is it about real estate that initially attracted you and what has kept you in the game?
Gabe: I’ve always love real estate because I heard a long time ago that we’re in an honorable business. I really believe that one when I heard it. That has never changed.
I still believe we’re in an honorable business. We provide homes for people, you know, I always thought it’s cool to build something from nothing.
You know when we come on this projects. They’re usually dirt. And you know when we leave its beautiful building that people can live in.
I see families moving in to them. You know hardworking professionals, they just want to go home and relax. I feel good about it.
Matt: Uh hmm. Awesome. So you know when we first met you’re working for this other company. And then we first met, you’d express an interest in when to get out there and doing, you know, real estate in some capacity for yourself. How long have you been thinking about that?
Gabe: About 5 years. I read Rich Dad, Poor Dad probably along with a lot of people. and as soon as I read that it just sparks something that was already in there. I just had that hunger for success and just freedom.
You know? And just getting out of the rat race so once we knew it and all. So ever since then, you know, there was just a passion for real estate investing and the idea of it.
Matt: Got it. Got it. so it’s five years you’ve been thinking about it, what’s gotten in your way? What did it take so long for you to actually take the first step?
Gabe: Well I did. I actually did Rich Dad approach program within about a year of, you know, Rich Dad, Poor Dad. I got in real estate right away. And I did.
I think it’s been six or almost seven years now if I really think about it. because I’ve had my license for four years and so I mean I got into real estate right away.
I got into real estate with the way I did it was I got my license. I started selling real estate as a, you know, as a agent and did really well and making good money and market. I actually was buying homes in Bakersfield.
Matt: Uh huh.
Gabe: And, you know, top of the market. Everybody was making tons of money and flipping houses. Renting them out and all kinds of stuff. Everything was great but yeah, the whole thing fell out especially in the area.
Gabe: So my investing crew did a lot of that stuff going on and then I realized, you know, being a real estate agent, you know, even though there was a lot of freedom and good money and stuff. It wasn’t really the real estate investing, you know, I had planned on doing.
I thought it was different than what it was. Really it was still a job, you know, you still have to show up everyday. You still had to, you know, do those things but not all of it but just it wasn’t exactly what I, you know, what I visualized so.
Matt: Right. Right.
Gabe: Another thing I think, oh sorry, Matt. I think I haven’t answer the question was why it took so long. So from there, I did the Rich Dad program and realizing that I did the Rich Dad program. At that time, I had very poor credit and no money, you know, no anything.
The only thing that’s even remotely about using other people’s money or creating a financing is less than a paragraph of, you know just a quick mention of, you know, there is other people’s money out there really you want to use conventional financing and that’s really what they’re pushing to kind of, you know.
Matt: Uh hmm.
Gabe: At that time, I didn’t think creatively at all. I didn’t think there was really any other option so.
Gabe: So I took what I have learned and I banked it and knew I would use it someday. Yeah. I try really hard to use what I learned. I just kept hitting the roadblock of financing.
Gabe: I failed really smoking deals and too good cash flowing properties. I still need that bigger market selling well and was finally was finding great stuff but almost sort of lost it. I just couldn’t close the deal without the money so.
Matt: Uh hmm. So you’ve taken education, your real estate agent, you went to the upswing that everyone else here in southern California did. I guess the whole nation somewhat did.
And it came crashing down. You’ve been licking your wounds for a while. What’s causing you to get started to, you know, just right now?
Gabe: It’s that, you know, that dream that vision of freedom. It has never gone away. I still want to exit the rat race, you know, and still believe real estate investing as far as a passive income from owning real estate is my ticket out. I guess you could say.
Matt: Uh hmm. Right.
Gabe: That’s my vision on how I could exit working for other people.
Matt: Uh hmm. Cool. So with all the options out there, I mean you obviously took the Rich Dad, Poor Dad education. I can imagine, I think we talked, you’ve read quite a few books on this as well, right?
Matt: Right? And then, uh, so why did you think, what was it that clicked for you about the Epic Pro Academy and the one-on-one program? Why did you think that was going to be the right path this time.
Gabe: You know, I had listened to the podcast and I stumbled across and then I listened to, uh, your podcast and two others.
Matt: Uh hmm.
Gabe: And I really, really, really felt like I could click with what you were saying and kind of your beliefs and your path, your history. I could really understand where you were really coming from. I could say.
Matt: Got it.
Gabe: And anyway, I, and what you were talking about was exactly perfect for what’s going on right now. No money. No credit. And you’re still in real estate and you can buy and sell and actually make a living and eventually I quit the rat race through your system, you know?
And I read, you know, your program. I went through your video and everything. I mean it all makes sense. You know? It was, you know, so that was what intrigued me, you know to reach out to you.
Matt: Sweet. Going through the Academy, you’ve gone through our videos, through our coaching experience, any epiphanies or myths that were busted around real estate for you?
Gabe: No. I can’t say. I don’t think. I think write off that, it took me a good couple, I think like 3 months of listening to the podcasts and I read not only your program but a couple of other ones too.
So I still like, I kind of somewhat understood and now if you know that wholesaling and how it worked. So you know getting to that is, you know, a very big deal because, you know, I being in the real estate game as an agent, you do not know anything about, you know.
They don’t teach you about other people’s money or creative financing at all. We’re actually told not to go that route at all so. Breaking some of those habits, you know, and those things that were engrained to me was pretty tough at first but I thin by the time I came in the coaching program. I was really open minded to what, you know, creative financing and, you know, what you taught so.
Matt: Uh hmm.
Gabe: So not really any myths that were broken so.
Matt: Uh hmm. Okay. Cool. You got a point because the question I frequently get is people getting started investing, they ask me should they get their license. If someone asks you that question, what- would you say?
Gabe: It just depends on what you want to do. You know? As what you taught me, I would say it depends but you know it depends on what you want to do but if you want to be a wholesaler then you don’t need your license.
Matt: Uh hmm.
Gabe: Or really mostly at creative financing and creative real estate, you know. Occupations you can do. You would not need a license.
Matt: Right. What would you say, this is a question kind of off topic but I think it’s a good one. What would you say the biggest benefit you got form having a license first?
Gabe: I learned about how to do contracts. That was, doing contracts is still even scary to me because sitting down and nobody likes to, you know, I learned words such as paperwork and, you know, authorize instead of saving time when I was in real estate because people are so afraid to sign things.
It’s like because of the negative connotation that comes with it so. You know when even you know I was taught by you to do a letter of intent, which I love so much, that it was an 8-page. You know, contract we do in residential real estate but eventually there was 50 pages of disclosures.
You know it, the contract I would say is the big thing. If you could really get past it and just working with people. As an agent, you got to know the market. You got to know statistics. I mean, you know, to truly be successful to find some success, you need to know those things.
That really, really, really is the same thing in investing. You got to know the market you’re in and how to present a contract.
Matt: Absolutely. That would have been my exact same answer. Working with people, you got to do that a lot. You have to get comfortable with the paperwork.
Even that takes longer for a lot of people. Absolutely. Some people never get comfortable with it. it’s understandable. It can be intimidating. It’s a lot of writing in there.
Matt: So tell me after a few months, we ended actually our coaching session just before the holidays.
Matt: Just before the holidays so what happened? What were your results inside of the coaching program?
Gabe: So my results are right off the bat were really good.
Matt: Uh hmm.
Gabe: I started out, you know, I just full of fire. You know. Taste of vinegar, you know? I just came in with everything I had and started my marketing right away and put letters out. I was just religious about getting my sign up everyday.
On Saturday mornings, I get my signs up before the sun came up. Craigslist had. You know, just doing everything.
Matt: Uh hmm.
Gabe: And going to meetings and everything that, you know, said to do or suggested to do even. And, you know, I had decent, I had very good results off my letters. It’s different for everyone.
You know, I know a guy that got tons of deals off from signs but nothing from letters and nothing off of Craigslist. Then I heard about a guy who just got Craigslists.
Matt: Uh hmm.
Gabe: Me, those letters really work well. and I got a lot of people, you know, I was meeting with people. You know, I started writing offers. Then I think I just wasn’t being very realistic with my time. I was, you know, I was really slacking my job.
To you know I failed like that and hopefully my boss isn’t listening but. You know I really was. I was leaving work early. I was not coming on time.
I was, I mean, you know, just to be honest, I was early out there meeting with people and driving and checking out properties. You know, doing trying to break in the real estate game.
I really had high hopes to retire by the end of the year. You know? I still don’t believe that it was unattainable especially with your plan. I mean you and me planned it out.
I think that I would stuck to the plan, I could hit it. but I knowingly went straight for the plan because I was mostly guilty about not being at work.
I felt like I did a little bit sick at my time and how much time it was going to take to staying up super late to just. You know, I just got really overwhelmed really quickly.
I think it’s because I started out so hard with so much, you know, I don’t want to say passion because it’s good to have passion but I just done it all.
Gabe: I was kind of a shooting star, you know, versus a shining star that just is always there everyday. You know?
Matt: Right. Right. No. definitely it happens. So knowing what you know now and looking back, what would you have done differently?
Gabe: I think I would have started out a little slower. Even though that’s not my nature. I’ve noticed in the past it’s worked out really well with things that I succeeded in.
It’s just kind of going in and more like a steamroller just real slow and heavy and strong. You know? Versus just trying to drive a pile through it then you laying there, tired out. You know? You break through the line. My little football melody.
Matt: That’s great.
Gabe: But you know what I mean? I just. I think I would have slowed down a little bit and used less of my, you know, total energy if that makes sense.
You know, I just used it all just right of the gait and then my biggest thing was not with meeting with people or contracts that really stops a lot of people.
You know, or making offers. All those things really don’t scare me. You know, a little bit but not to the point of stopping me but my inner word in this, you know, and I remember right off the bat, it was said that there are either two things, it’s either you think this won’t work or you think you wont work.
Right after that when you are not getting results right away, the instant thinking is if this would ever work. It’s not like a direct thought that I was having,
I wasn’t just thinking this wont work. It just kept creeping in like, man, does this thing even work? And really fighting then pushing that back is tough. It worked for me.
Gabe: And then, true to that I started thinking I don’t work. You know? I really questioned who I was and my success, you know, and my failures in the last couple of years.
Instead of looking forward, I was looking back. I think that would be probably my biggest mistake I ever made. Going into the coaching program as I just should have started out a little bit slower and steady and giving it frame by frame maybe much time but just more like focused time.
And then I would have really focused on looking forward and focusing on their vision statement. And, you know, just forward looking. Not looking in the past these failure. You know?
Gabe: Thinking about “I can’t do it.” and I don’t know what it got me for some reason.
Matt: Right. Right. I just want you to know, Gabe, that you are 100% normal.
Matt: Because of what you experienced is nothing out of the ordinary by any means. You know, with real estate I’ve come to know that it’s not really the rabbit that wins the race. It’s the tortoise either.
It’s the consistent and focused person that really wins the race. And having going through this or gone this already, I mean you look back and you can see consistency and it’s focused time.
It doesn’t have to be a lot of time. It doesn’t’ have to be, you know, stand up until midnight and work until two or three. It can be a couple of hours of focused time consistently.
Gabe: Right. Yup. And I agree with you completely.
Matt: Yep. Yep. So good. I am glad you got something out of that. We ended up not doing a transaction. Right?
Gabe: I did not do a deal. And you know I consciously made a choice write them out of two weeks before the end of the coaching that I was just, I was going to finish the program. I even talked to you about it.
I just needed, I decided to refocus back on my job and my work. I really felt that it might, the position I’m in is detrimental that I am there all day and they expect a lot of hours out of me. I kind of have to do a lot of hours because the load is on me.
And even though it’s backwards from what I really want in the present moment, you know, it’s just the most comfortable and the most logical thing I needed to do is just really focus on my job so.
You know, its unfortunate that I really had to do some soul searching on why I went that route for some reason I just wasn’t ready yet to fully commit to the program.
Gabe: You know that stuff I came up with, you know, was just to be dead honest with myself and with you. That’s what happened.
Gabe: You know, not to say that I wont take what I learned and use it. it’s funny. I’m still meeting with people every week – wholesalers. I met with a lady last week and put it off because she held it on my yellow letter from like four months ago.
And called me out of the blue and had asked how to work out with the sale. I went down and put cash offer on it last week you know. So I still believe, you know, I still believe in this thing.
I’m still soul searching for when the right time is going to just dig in and go because once again I don’t believe it’s always just go in full force at any time. you know the passion got to really be there. The commitment you know to never stop so.
Matt: Right. Right. No. There are a lot of people listening that can really identify with you. I know that because I talked to them all the time. I get their emails all the time.
One of their challenges is having that balance between the job that they absolutely need to pay their bills at the moment. Where are they going to find the time?
Matt: My answer is always, you know, when it’s important enough. You will do it.
Gabe: Yup. You told me that.
Matt: Sometimes a comfortable job can be almost your worst enemy. You know?
Matt: It’s that comfort complacency. It’s, it creates comfort in your life right now but, you know, as we all know in this show particularly in the conversations that we have.
It’s like the long term. Where does that going to leave you if you continue to do what you’re doing right now? What your life going to look like in a year?
Matt: And what’s your life going to look like in 5 years? What’s your life going to look like in 10 years? You know?
Absolutely. We got to do. We got to do because I mean I went out. I bagged groceries for six months and didn’t have any plans at all but I had to do something to eat.
So I can definitely relate. I get that. But one thing I don’t want you to lose of, Gabe, is why you got involved in the first place?
Matt: I know you’re married. Gabe, you have kids, yes?
Gabe: Yeah I do. I have two boys.
Matt: Yes. You have two boys. And uhmm, you know, those are the things you have to think about as well. and I’m not saying that to ever suggest that you did the wrong thing not by any means. You got to do what you got to do and everyone knows their situation better than anyone else knows it.
Matt: But I don’t want you to leave with is to lose sight of what you once saw is possible for yourself and now for some reason you don’t see it being possible right now. So just to keep that always, keep that perspective because you’re younger.
34. And I’m 43. I’m going to be turning 44 this year. I just kind of look back. I wish I knew now what I knew when I was 34 years old.
Matt: So I’m speaking to you from a place of wisdom and not a coach and not as an instructor but just time will fly by quicker than you possibly imagine.
Matt: I know all of the 43 years old and 44 years old out there listening to me right now are nodding their heads up and down. and possibly the 34 years old are like, darn, Matt, you’re being kind of hard on him. (laughing)
Matt: But, uh, no. but I have faith in you Gabe. You are a smart guy. You definitely got the work ethic. And you know, you just kind of have to go back and rediscover tour reason why.
And very well. this might not be the right time. that’s perfectly okay. But just don’t lose sight of, you know, what you want possible for yourself. Does that make sense?
Gabe: Yeah, it does. And I really feel that too. So yeah.
Matt: So based on, maybe you’ve already said it, but maybe you can wrap it up in a nice little nutshell. For people that are listening to you that are relating to you right now and, what words of advice would you have for them as they’re thinking about getting started investing in real estate?
Gabe: You know I’d say if it’s something you really, really, really or seriously thinking about, I would talk to your either closest friends or your wife or, you know.
A lot of times those people will hold you back or support but the thing is it’s going to happen during the program even just as much as this is going to happen before the program so.
You know I came in with my wife’s support. That was huge. I mean if I didn’t have that I would have never even made it a week. You know.
Because I was staying up late and she could have been getting on to me about it. I’ve been very good out there. You know what I am talking about.
Gabe: So you know that was really a big one – having her support. Also some of my really close friends that I trust have my back and truly believe in me. I shared my vision with them.
The vision that helped me makes. I shared it with them. That was big. They really believe in me. You know that’s how it gives is really going into with the right attitude and you know I was really committed to it when I went in.
I lost sight of that during the program. Just be realistic about your time and you know really set up some set times everyday if you can to just do the program. If you do it, it will work. I feel so confident in that.
What Matt taught me was priceless because I will use it. and I still know that I’ll find success with the things I learned form this program.
You know all the things that we do, I think it resonates in the future. Yeah when the time is right, I will be there. Anyway, yeah. That’s the advice I got.
Matt: Awesome. Well Gabe as I share with you at the end of our coaching program and this goes to all of my coaching clients once the program is up. We’re essentially buddies. The phone line is always open to you. The email is always open to you.
So whenever you feel it’s the right time, please get back in touch with me. We will pick up where we left off and see if we can get you back on track.
Gabe: I really appreciate that, Matt. And yeah. I know you called in a couple of times. I definitely appreciate that. You’ve been very supportive. Yeah. The program was great. I would definitely recommend it to anybody that’s interested and better in their future of real estate.
Matt: Cool. Thanks, Gabe.
Matt: Thank you for sharing so authentically and coming up on the show and having the courage just to talk about something that’s, you know, it’s important to you and it’s personal.
To come on the show that we’re always talking about success and money . you came up and shared, you know, hey , it didn’t work out so good for me.
I really appreciate that because I want everyone to hear both sides of the story. I want them to hear why things do work and why things don’t work. I’m very, very appreciative of that so thank you.
Gabe: All right. You are welcome. I hope it helps somebody.
Matt: Me too. I’m sure it will. There’s someone out there nodding their head up and down right now. I’m sure.
Matt: All right, buddy. Get back to your day. I’ll get back to mine. Let’s stay in touch. Okay?
Gabe: Okay. Yeah. We will. Thanks, Matt. I appreciate it.
Matt: You bet. Take care.
Gabe: You too. Bye bye.
Matt: So Gabe touched on a few things I want to mention real quick. Gabe talked about his belief. He went through periods of doubt wondering if real estate investing works.
Well that’s normal. I mean everybody goes through this but the key is to not let it get to you, not to let it stop you. I mean there is evidence all around that it works.
He’s got to hang in there. You know success, it comes at different speeds for everybody. It comes at a different pace. Growth comes at different speeds for everybody but what does work for everybody is consistency and persistency.
You have to have your consistent and persistent action. We discussed that a lot here. I’m not going to get into it again right now. But whether you start fast like Gabe did or you start slow. The speed of what you start doesn’t really matter.
It’s when you do actually make up your mind to get started, you jut got to maintain a consistent workflow. When you’ve decided that you can really make that commitment to your business.
You may want to make a commitment to consistent workflow. I’ll show you exactly how to do that in the free real estate investing course too. I mean I’d rather you do a little bit every single day than pack, say your first day of the week.
Rather than pack your Monday with a ton of activity and take the next six days off. For some reason, I mean I got my theories on it but I don’t know for sure but for some reason those two approaches, although the work that you put in might be the same.
They do not produce the same result. Consistent and persistent action is what’s going to get it done for you. I mean just like how Randall shared his success at the top of the show.
I mean a $12,000-payday for wholesaling his first property. Randall was persistent and he made it happen. There is no doubt that his next deal is going to come much faster.
The one after that is going to come even faster. I mean the more you do, the better you get. The better you get, the better deals you will do. It’s kind of self fulfilling thing but you got to be consistent.
It will become second nature if you will just stay in the course. You got to be consistent and persistent. And another point that I want to pull from Gabe’s interview is to set aside time to conduct your investing activities.
Put it in the schedule. You got to put it in your calendar whether it’s, you know, an old fashioned wall calendar, a day timer, a day planner, or you got your Smartphone, or you got your calendar online.
You got to schedule your work to be performed consistently each day. That’s what really going to produce a consistent workflow. I mean I have a coaching client right now, Chris.
Chris is in the navy, full time, and active duty. He’s got a full schedule. And he says I’m his direct mail in the morning. He places his ads in the morning. That he schedules it that way so it gets done everyday.
Then he returns the phone calls that come in on his lunch break. He has that schedule also. He knows on his lunch break. He’s got to go ahead and chow down his food then he’s got to go ahead and he is going to make the calls that came in while he was working.
And he visits motivated sellers in the evenings during the weekends. He’s got that scheduled in. And because he does, he has work with me for about six or seven weeks into his coaching program. He just opened up escrow on his first deal.
I believe he just got his second offer accepted last night. He sent me a text on it. I’ll confirm that but the point here is if an active duty seaman can make it happen in his full time schedule so can you.
All righty. Schedule your activities. What gets scheduled, gets done so schedule it. all righty. So that’s it for today. We’re going to get to another awesome coaching client interview on the next episode along with more of your questions and comments.
If you have a question or a comment or a concern, please share them with me at 1-888-891-7203. 1-888-891-7203. And if you’re enjoying the show and it would be a great favor to me if you stop by iTunes and leave me a rating and review.
That helps me out in the search results. It will allows more people to find the show and allows me to help more people. Okay?
So thank you very much for your time today. I know there is a lot of things you could be doing and you chose to spend this time with me. I don’t take that lightly so I just know we are all busy people. I have the outmost respect for you and your time so again thank you.
Until next time, as a very wise person says, “In essence, if we want to direct our lives. We must take control of our consistent actions. It’s not what we do once in a while that shapes our lives but what we do consistently.” 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 a minute, stop by iTunes to leave your comments and let us know what you think of the show.
And if you haven’t done so already, get started investing today by visiting freerealestateinvestingcourse.com to access Matt’s free course – How to Do Deals, No Money Required. Until next time. To your success.[End of Transcript]