Epic Real Estate Investing shares some time with creative real estate investor Corey Kendig. Learn about what works best for Corey and how his #1 strategy will work for you too. Anyone can do it.
Find out what Corey means when he says to “Buy Right,” and hear how his “Buy Right” approach helped Corey make his first million at the age of 23. Discover how he invests in real estate, retires dad, and buys a Lamborghini.
Roll out in the dream car with Corey Kendig on Financial Freedom Friday!
What You Will Learn About Creative Real Estate Investor Corey Kendig:
Day to day activities and how you can make best of your time
How you can stay focused on your goals
Ways you can scale your business
What works for Corey when talking to sellers
How you can succeed without a marketing budget
What it means to “buy right”
How you can improve your access to lending
The thing that Corey does consistently for simple long-term success
Where and When you can meet with Matt, Corey and the Epic Team
How Corey made his first million and how you can too
- 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.
Thank you so much for joining us on this episode of the Epic Real Estate Investing podcast! Please subscribe to the podcast so that you will get instant access to our new episodes.
If you found this podcast helpful, please take a few minutes to leave us a positive review in iTunes. Your reviews help to improve our search rankings so that we can spread the love. Thank you!
Matt Theriault: All right. Once again, it is my favorite day of the week.
Announcer: It’s time for Financial Freedom Friday with Matt Theriault.
Matt: Hello, and welcome to Epic Real Estate Investing. Glad that you found us.
We’re here going on our eighth year, and we owe it all to you. It wouldn’t be here if it weren’t for you. Promoting and getting the word out on a podcast’s very difficult to do, so we really rely on word of mouth, and obviously, we’ve been doing a decent job because you keep sharing, and we’re just really grateful – really appreciate.
So, today, I got a very special episode for you, joined by one of my clients who has really taken what he’s learned inside of the Epic Pro Academy, taken it out into the real world, put it into action, and then he’s gone out and he’s created some amazing results, but with his own tweaks, his own modifications. And so I invited him to come in and share with you what he is doing.
So, please help me welcome to the show Mr. Corey Kendig. Corey, welcome back.
Corey Kendig: Hey, what’s happening, guys? Thanks for having me, Matt.
Matt: You bet. Glad you’re here.
And you were not just recently – and you attended our last Epic Intensive and shared your story there, and I just saw this thing on Instagram yesterday, I think, of you driving your new white Lamborghini. I saw the little Rudolph antlers on it. It was great footage. Great video.
Corey: Hell yeah, man. It came about by getting passive income, first off. But yeah, always I wanted – I told myself in high school – I got made fun of for getting discounted lunch. And I said, I’m going to show up to my 10-year high school reunion in a Lamborghini. So, I beat it by a couple years, and that’s what motivated me.
And at the end of the day, man, that thing is the best snow vehicle Italy ever made. It’s badass.
Matt: Awesome. It was great.
All right. So real quickly, that’s what’s going on today. Let’s go back a little bit. What were you doing before you found Epic Real Estate?
Corey: I had just started in real estate and had had some success, but wasn’t getting a ton of traction.
Matt: So, you had already participated a little bit in real estate – you dabbled. You were working still, right? You had a job?
Corey: Yeah. Yeah, definitely.
Matt: Got it. All right. And that was a full-time gigger, right?
Corey: Full-time gig. I had those golden handcuffs on.
Matt: Sweet. So, we met and we hit it off. And so how has life and business changed since you found Epic?
Corey: It’s changed a lot. Been able to get myself financially free – not financially free, but financially independent. Financially free, that’s my A plan. Been able to retire my father, which is probably one of my biggest things. Cars and money and fun and friends and travel – that stuff’s great and I love it. I don’t love it, but I enjoy the hell out of it. But, being able to retire my dad, that was something I loved. That was super cool. And being able to put my family in a better position and kind of create that legacy – that’s what I want to set up.
Matt: That’s awesome.
Corey: That’s been the biggest change in the last… probably five years, since I met you.
Matt: Right. Yeah, I think that’s what all good people want. They’ve got this dream of – and this vision of – taking care of their parents because they know how their parents took care of them, and give them back. So, kudos to you, dude.
Corey: Thanks, man.
Matt: Yup. So, what does your current business look like on a day-to-day basis?
Corey: Good question. So, it’s actually kind of changing right now… I’m looking to automate. What I’ve gotten really good at doing – I’m looking at automating and taking exactly what I’ve done for the last six years, but being able to remove myself so that I can focus on higher and best use. And I found, throughout the years, you’re always just scaling up. So, that’s kind of my focus.
What it looks like now is, on a day-to-day basis, I kind of decide what I want to do. Right now, I’m actually starting a subdivision, so I’m building a subdivision. I’m building my own personal house, dream house. I always wanted a big garage and a huge house, so I’m building a… We just broke ground Tuesday of this week. It’s a 4,000-square-foot garage with a big house on top, so I’m building that, and I’m gonna do nine other houses in the subdivision.
And on top of that, managing my team. I got my dad working for me full-time. That was my way of retiring him. So, every week, me and him have a meeting and figure out what he needs to do. He’s my property manager, and he makes sure that passive income keeps coming in.
Other than that, acquiring one to two deals a month. I haven’t really gone crazy this year. The last 12 months… I was just having a discussion with a real estate buddy of mine last night, and we were talking about our past year and getting ready to plan for the next. And this year was a year of… My goal this year was, I just didn’t want to do any bad deals. I just kind of laid back, and I did deals that were home runs. I tried not to touch a deal unless it was gonna treat me well.
Matt: Yeah, it’s better to miss out on a good one than it is to buy a bad one.
Corey: [crosstalk 00:05:34] the truth.
Matt: It’s certainly [crosstalk 00:05:35]. So, with regard to the passive income, with regard to the cash flow, what’s working best for you? Whether it’s right now or – what got you to this point? What was the strategy?
Corey: Two things. Owner finance, I think, is super powerful. People underestimate it all the time. Just to get good at closing people in their kitchen.
And the other thing that works really well is just telling everybody what you do. And you say it all the time in your podcast: creating a network. The reason I could, for the last 12 months… I do no marketing. I spent less than $500 on marketing the last 12 months. I still did a deal every single month.
I can do that because of my network. Because six years ago, I started telling everybody, hey, this is what I do. This is how I can help you. And it causes a huge snowball. And I didn’t realize what it was going to cause at the time, but I just kinda… it was too dumb to fail. You said it on your podcast. I’m like, I’ll just do that.
Matt: Yeah, it’s… You don’t realize what’s happening when you’re doing that in the beginning. You don’t realize what you’re preparing for, but you do it consistently and, boom, you get those results for sure.
Corey: Well said, man.
Matt: Yeah, totally. So, how many properties do you have right now?
Corey: I think 50. Low 50s. Somewhere in there.
Matt: All right.
So, you’re in Erie, Pennsylvania. It’s a very small little town. And I saw you recently [inaudible 00:07:07] via text or posting pictures… you pulled out some really large chunks of cash, which I imagine is what’s probably going to your redevelopment, right?
Corey: Mm-hmm (affirmative).
Matt: So, I mean, upwards of $700,000, $800,000s I think is the numbers that I’ve seen. And that’s a lot of money. And for Erie, Pennsylvania, that’s an obscene amount of money. And I know appreciation isn’t necessarily skyrocketing. I don’t think there’s a giant influx of people into Erie, Pennsylvania. Maybe I’m wrong.
Corey: There’s an influx out, man. It’s…
Matt: It’s out.
Corey: It’s an old, old, very manufacturing-based town.
Matt: Sure. So, how have you been able to pull that amount of money out of small little Erie?
Corey: Forced appreciation and buying right. If you don’t buy right, you can’t do it to begin with, so that’s step one. And developing those relationships. I found that banks still don’t want to lend on real estate. Your P&Cs, your Bank of Americas, your Huntingtons – those guys… don’t waste your time with them if you’re just starting out.
Go out and get yourself a relationship with a hometown lender. Introduce yourself from day one. They’re probably gonna turn you away, and then from there, continue to prove yourself to them. So, between developing that relationship with a hometown lender and buying right is what you gotta do.
Matt: Got it. So [inaudible 00:08:29] buying right. Right?
Matt: [inaudible 00:08:31] you do with the seller financing? I know you’ve been a big advocate, or a big implementer of the principal-only type terms, right?
Corey: Yeah. They’re cool.
Matt: Right? And I know you’ve done that a lot. And so, over five years, over 50 properties… I’d imagine that that has resulted in quite a bit of equity, right?
Corey: Oh, a ton.
So, the next Epic Intensive is quickly approaching. I’m gonna do something I’ve never done before… is I’m gonna think it’s… I think it’s fitting in the amount of the successful case studies we’ve had this year, because they’re growing and are growing really quickly.
And so, I’m inviting a few students to actually train with me and show what they have done to create what they’ve got and how their case studies have come about. And you’re gonna be there. You’re gonna be there showing how to do-
Corey: We’re coming, baby. I’m coming.
Matt: Right? So, I’m super excited about it. I can’t wait to see it. And I can’t wait to work with you in that capacity.
So, your specific approach and your nuances within your strategy – that’s what you’re gonna share. If you had to answer this question: Why should someone attend this specific Epic Intensive? Why should they go?
Corey: One, I’m gonna be there, man. I’m gonna be showing you some ninja stuff. Stuff that took a very broke 21 year old that was $70,000 in debt, drove a Grand Prix, couldn’t even afford my parking pass at college = I was so frugal I walked up the damn hill – to making my first million at 23. I’m gonna give you guys the open book, how I did it. How I used what things you’ve taught me. Implemented those.
And on top of that, I’ve been to a couple of these events now. If you’re in real estate, it doesn’t matter what level you’re on. If you’re a beginner, if you’re killing it, you should be there.
And the energy, alone, is enough to get you going. And there’s tons of ninja stuff you’ll be sharing. I mean, that Facebook thing you shared last time when we were there was super cool. There’s some good stuff there. So yeah.
Corey: [crosstalk 00:10:32]
Matt: If you liked that, you’re gonna love what I got next. So, sweet.
All right, Corey. I’ll let you go, bud. Thanks for your time, and have a Merry Christmas. Happy New Year. And I will see you at the end of January.
Corey: Thanks, brother. Appreciate it.
Matt: All right. Take care.
So, if you’d like to go and meet Corey in person and watch how the wealth has happened for him, as well as my other students, and how you can do it yourself, go to epicintensive.com, grab a seat, and as the closer we get to capacity, the more that those tickets are going to cost. And that’s not us thing, that’s not a marketing thing. That’s just how the hotels work, so the quicker we can get our final numbers in, the easier it is on us financially. So buy now, make it easier on us, make it easier on yourself, all right? And we’ll see you there. Epicintensive.com. Take care.