On Financial Freedom Friday, Matt shares the 3 types of questions he hears from students. Learn which type of question is asked by people who have achieved financial freedom, how to evaluate yourself based on the questions you’re asking, how one of Matt’s students found success in 30 days, and much more!
What You Will Learn About Creating Miracles on the Road to Financial Freedom:
- How Matt found success without a marketing budget
- The “superpowers” you can glean just from having lots of face-to-face time with people
- The 3 types of questions Matt’s students ask him (and which type comes from his most successful students)
- How one of Matt’s students found success in 30 days
- How to evaluate yourself based on the questions you’re asking
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Matt Theriault: Hey, this is Matt Theriault at Epic Real Estate, and welcome to another episode of Financial Freedom Friday.
Speaker 1: It’s time for time for Financial Freedom Friday, with Matt Theriault.
Matt: So today as I was trying to think about what we were going to talk about, what would today’s subject be, and I was actually inspired by a sequence of events that happened in the office this week, because we sent out an email looking for another badass case study that we could create. We wanted to create another badass case study inside of our REI Ace program, and we sent out this email, chose a select group of people, sent it out to them and the responses came back. There was a bunch of them and we started going through them, and they went from one end of the spectrum to another, there was all types of different responses, and this one particular response I want to talk about today is the inspiration of this, and what I started thinking about was I’ve been investing in real estate for quite a long time, 12/13 years now, and in the beginning I didn’t have a marketing budget.
So I had to do business the old fashioned way. Belly to belly, nose to nose, face to face, and I had to interact with a lot of people. I spent a lot of time in people’s living rooms, and at their kitchen tables, and knocking on doors, and all that type of old fashioned sweat equity type of marketing. And when you spend that much time with people, really indirectly you’re getting an amazing education in human nature and in the human character. Then about six or seven years ago we started showing people how to invest in real estate, that was a whole group of other people I got to interact with.
So over the last decade I’ve got a lot of hours in with people, and one thing you start to notice is you’re able to assess a situation, you’re able to assess someone’s character, their motives, all just through the way they speak, their vocabulary, the words that they choose, and most specifically inside of the questions that they ask. Really the questions are so telling, and it’s just like you can pick it up right away right now, it’s just like this weird ability that I have. But it’s not weird, it’s just because it’s what I’ve been doing for so long, and it’s just present, it’s just a part of me now.
So when I receive an email, and all of these emails, I can just read through the lines pretty darn easily and clearly. So this person said, “Please provide me contact with the numbers that you claimed to this.” They wanted numbers of the case studies, they wanted to call them. So when he responded back, and I wasn’t expecting them to respond back, and if he was going to respond back, I wasn’t expecting him too nice. But he was actually a very open minded person, he said, “Hey, I reread what I wrote, and my mind was somewhere else.” So indirectly, he was just acknowledging that, “Hey, maybe I went a little overboard.” Then he went on to say, “I think for the most part, when you see these stories,” talking about the case studies in the email, “there is always a lot more to it than what’s portrayed.
So this is the part I’m talking about, because when you’re trying to learn how to do something new, particularly where there’s a big reward on the other end, it’s typically accompanied by a certain amount of risk that you’re going to have to endure before you actually get the reward. So in that type of circumstance, there’s really three types of questions people ask. There are ‘just in time questions’, these are the good questions, then there’s the middle of the road questions, then there’s the bad questions that really get you stuck, okay?
So let’s talk about the first ones, the ‘just in time’ questions. Those are the people that, “Hey, I just need to get going, I just need to take action, I just have this question. Can you just answer this one question, and I’ll be on my way.” And I think those are the best types of questions, that’s moving at the speed of instruction, that’s traveling as far as you can see, and when you get there, now you’re like, “Okay, now what?” Now you’ve got a new question, and now you get to keep going. And I think those are the best types of questions to ask, and I can see with our case studies, our most successful case studies, that’s something that they probably all have in common, “Okay, what do I do now?”
I just got done talking to one of our most recent students, Joey, Joey Stant, and I’m not sure when that, that might have been last Monday, or that might be next Monday, you’re going to hear from him, or if you haven’t heard from him already, you’ll hear his whole story. But he was very much one of those people, via Voxer, he’s like every morning was like, “Matt, okay, what do I do now?” Then the next morning he’s like, “Okay, I did that, now what do I do?” Boom, “I did that, now what do I do?” And we went through that rotation and in 30 days he was standing there inside of our private Facebook group and posted a picture of his check, and I was like, “Well, there you go, that’s how you do it.” So Joey, if you’re watching, good job bud, keep it up.
So those are the good types of questions, ‘just in time questions’. I need just enough information right now, just in time, so I can keep growing and progressing. Good. Alright, so then the middle of the road questions, these are called the ‘just in case’ questions, and I guess they would be considered hypothetical questions, and most of the time they’re really fear based, right? People are really concerned about, “What if this happens, what do I do?” Or, “What if that happens, what do I do?” The whole getting ready to get ready, and you just need all of the answers before you’re going to take that next step, and, “What if this rock falls from the sky? What am I going to do?” Or, “What if this person slips on the porch, what am I going to do?” “What if the Attorney General calls, what am I going to do?” “What if all this mail comes back and stuffs up my mailbox?”
They just need an answer for everything, and this group of people, I would say it’s 50/50, it’s a coin flip as to whether they’re going to succeed or not, but what they do all have in common is they just go a lot slower than they have to go. You just don’t need all of the information. As Dr. Martin Luther King said, “You don’t need to see the whole staircase to take the first step.” Well, this group of people, they need to see every single step in that staircase before they’ll take the first step. Alright, so that’s the second kind of question. We’ve got the ‘just in time’ question, the ‘just in case’ question, and then where this really made me thin of this, is the ‘justified’ question. They’re looking for justification to not try at all. That’s the third category, I’m looking for a reason, I’m looking for an excuse, and one thing he had written here is he says, “I think for the most part, when you see these stories there’s always a lot more to it than what’s portrayed.
So what that’s telling me in his language is that he’s always waiting for that one little thing. It seems like he’s listening to the story, he’s listening intently, and he’s waiting for that one little piece of evidence that’s going to validate as to why he is not going to make it. And you have to be really careful of those types of questions, why you’re asking those types of questions. Are you looking for a guarantee? Are you looking for an excuse not to try? Whatever it is, those ‘justified’ questions are typically paralyzing questions that are going to stop you dead in your tracks and you’re never going to get anywhere.
So, as you proceed and go through your journey, take this new insight that you’ve got now, and evaluate when you’re asking a question, what category does it fit in? Is it a ‘just in time’ question, because I really want to know the information and I’m going to go do something with this information? Or is it a ‘just in case’ question? That I’m really just looking for an answer to calm my nerves and I really don’t plan on doing anything with it at all, I’ll just feel a little smatter after I know the answer. Or is it a ‘justified’ question? Give me a reason as to not try at all, I’m looking for an excuse, I’m looking for a way out of not even trying?
Alright, so take that, and evaluate yourself. It’s just a way to coach yourself, and as you move forward, just take the information, move at the speed of instruction, travel as far as you can see, when you get there you’ll see further, and this is really the fastest way to go about it. And what you’re going to notice, what you’re going to recognize is things are going to start happening for you, things that you could never have expected, things that you could have just never foreseen or anticipated, things that would have never have happened for you unless you did take that first step. Call it the happenstance. It’s just where luck happens, it’s where miracles, so to speak, happen. I’m not talking about the spiritual or mystical miracles, I’m talking about just good things happen that you weren’t expecting to happen. So take this new information as you’re progressing on this journey to financial freedom, and make sure that you’re asking the right types of questions, the types of questions that are going to actually propel you forward and not hold you back.
Alright, I’ll see you next week on another episode of Financial Freedom Friday. Take care.