If you’re looking for financial freedom, Corey Kendig has already achieved it – by age 27! But don’t worry. Today, Corey shares how he found success in real estate investing with no marketing budget, how Matt’s coaching changed his business, and how he made $205,000 without flipping a single property. Learn it all with Epic Real Estate and Matt Theriault on Financial Freedom Friday!
Every massively successful investor started with just one deal – their first deal! Land your first (or next!) deal with the help of Matt’s new free course.
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What You Will Learn About No Marketing Budget Needed – Corey Kendig:
- How to be successful in real estate without starting cash
- How one of Matt’s students used relationships to make hundreds of thousands of dollars
- What Corey was doing before he found Matt
- How Corey balanced real estate investing and a full-time job
- How Corey acquires his deals
- Corey’s favorite exit strategy
- How cash flow and financial freedom can change your life
- How Corey made $205,000 without flipping a single property
- The huge real estate investing realization Corey had after a near-death experience
- How Corey’s new financial situation has impacted his family relationships
- How to follow in Corey’s footsteps and make cash flow exactly like he did
Whenever you’re ready, here are a few ways we can help:
Work with me One-on-One
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- Become an Epic community member at The Epic Real Estate Investing Show
One of my favorite things to do is share with investors the latest and greatest tactics and strategic friends I make. I do it every week and you can listen in by subscribing to The Epic Real Estate Investing Show podcast on iTunes – Click Here.
- Grab my book, Epic Freedom ($1)
I frequently hear from people looking into investing in real estate for the first time, “How long is it going to take?” So much so, I wrote a short book about the 2 easiest and fastest strategies to a paycheck in real estate. You can grab a copy for $1 and I’ll pay the shipping – Click Here.
- Join our Badass Investor Program and be a Case Study
I’m putting together a new Badass Investor case study group at Epic Real Estate this month… stay tuned for details. If you’d like to work with me on your real estate investing, go to FreeRealEstateInvestingCourse.com to get started.
- Also, check these out:
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Speaker 1: This is Theriault Media.
Matt Theriault: Hey, this is Matt, and welcome to another episode of Financial Freedom Friday.
Speaker 1: It’s time for Financial Freedom Friday with Matt Theriault.
Matt: Hey, I had a great Financial Freedom Friday planned for you today, and we’re going to go ahead, and we’re going to push that off until next week because something else just much better came up. I just got from off the press my video producer from the last intensive, and he sent me some video footage. And I just wanted to share this footage with you because really, it’s all about freedom. And specifically, it’s all about financial freedom, and I thought what better day than to share that with you than today on Financial Freedom Friday.
So, you’re going to meet a past client of mine, and he’s become a really good friend. And there’s two things I really want you to notice here that we talk about all the time is you can go fast in buying leads and paying for marketing machines and all that kind of stuff, and I highly recommend it if you have the means. But you can also go really far by building relationships, and this particular client really embraced that concept. And you’re going to see the results here coming up.
And the second thing that I want you to look at is how he’s really embraced all of the different creative acquisition strategies that we teach here at Epic, and I don’t know. I’ll just stop talking. Here. Go ahead. You watch.
Corey, and thanks for coming up. Thanks for flying out here to be with us and just kind of share with everybody what you were doing just before we met.
Corey Kendig: Before I met Matt, I was kind of like a lot of people, looking for the next real estate guru. I had just started to get my first rental property. And I remember scrolling through podcasts, and I’m like, “Man, this guy. He’s just giving a lot of information away. And he’s talking about holding properties, which is not that sexy, but I know that’s what I’m supposed to do.”
Matt: He gave me a call one day, decided long story short, let’s work together, probably four years ago.
Matt: So, we got started and just kind of bring us from that point up to where you are today.
Corey: Basically, while all my other friends were getting addicted to drugs and partying, I got addicted to cash flow. I did my first deal, that rental, and I mean I came from nothing. My parents always had enough to be comfortable, but they’re broke. And so, I’m like, “Man, I’m going to check this out for a year and see if this even works.” So, after a year, I’m like, “Shit. I made some money. It’s cool. What if I did this like 50 times?”
For the next two or three years, I just worked really hard. I had a day job at the time, and then 5:00 p.m. to 9:00 p.m., 10:00 p.m. every night I was hitting the phones doing what was necessary just to buy my freedom back. Now, I want to scale up. I want a hundred thousand dollars passively coming in every month net not gross. Well, in order to do that, I got to kick my marketing up another level, too.
Matt: Corey, what’s bringing most of the deals to you? How are you acquiring your deals?
Corey: Where I get most of my deals from now is my network and relationships that I built. I just focus on them because every person’s situation is different. I focus on letting them tell me what they want to do. It’s coming from that position of, “If I can’t help you, I’m going to let you know that. And on the other hand, if I can help you, will you let me know that?” And that’s kind of how I frame all my seller conversations.
One thing to add to that that’s made me a lot of money, and it’s the reason I do more deals in my market than anyone else is. Well, not more deals, I do better deals. I don’t like doing a bunch. I’d rather just cash big checks. It’s simpler. I can think about [Sherry 00:03:37]. I bought a house from her two years ago. I have had lunch with Sherry two times a year at Panera since she sold me her house. She’s 62-years old, and Sherry tells her friend [Penny 00:03:46]. Penny sold me a house in Warren, Ohio, for 20 cents on the dollar. I mean it’s worth a hundred K. We closed at 23,000. Penny knew how much I was going to make, and I still talk to Penny. So, I have set my business up to where I just try to treat people like humans. It’s not a secret. I’m going to make money, and most of them probably know how much I’m going to make.
Matt: As far as your exit strategy or your ideal exit strategy, your favorite exit strategy, what’s been the most successful for you? What’s working the best for you on your exits?
Corey: I hold a bunch of rentals, and what I try to do is I empower my residents to be homeowners. Other than that, I’ll also focus on quick sales to benefit another investor or someone I think I may do business with in the future.
Matt: And with as much fun as Corey has, he’s gotten himself into situations where he couldn’t work. About, I don’t know, 13 months ago during December very close to Christmas, Corey had got in an accident on his snowmobile.
Corey: I was following a bunch of buddies. I was ripping through a field, and there’s a steel pole hanging across the field. This pole hit me directly across. It crushed every bone in my skull from cheekbones up. I mean I laid there and just accepted the fact that I was going to die. And I remember being super stoked about like, “Man. I achieved financial freedom. I got to retire my dad.” My dad’s my right-hand man and property manager. I just remember talking to my mom, started telling her how I’m so grateful that I have cash flow. It kind of sucks that I’m kind of fighting for my life. But I do know that my necessities are paid, and we’re going to get through this. And at the end of the day, I like that I don’t have to answer to a boss even as bad as this is right now.
Matt: But you had two checks there. This is about six months after your accident. What were those checks amounts up to?
Matt: $205,000. But you got $205,000, bro, holding properties. How were you able to make that happen without flipping them?
Corey: I love buying stuff on terms, whether it’s principal-only payments or just good owner-financed terms. You have the ability to create a lot of equity.
Matt: He’s done it. He’s really taken to the strategy of owner-financing and going for those principal-only payments. When you take that over the 50 or so properties he holds over the last three to four years, a good chunk of those being on principal-only payments, it pays down the equity pretty darn fast. You can still create very large chunks of cash even if you’re holding property, and he still owns the properties. He was able to pull all of that cash-out, and-
Matt: And you actually did that twice this year.
Matt: You’ve done very significant, almost $700,000 worth. You pulled out almost $700,000, and now you’re going into this leveraging that into this new land deal. How else has it impacted you personally? Your pursuit of cash flow.
Corey: In every aspect of my life, but just some more than others. I mean confidence, family, relationships. Me and my dad are closer. Me and my mom are closer. Helping my brother, I got to show him how to buy his own place. So, I set him up, got him a lease option. He was living in one, renting the other one out. Now, he rents them both out. He makes some cash flow. At the end of the day, if you got a lot of money or just a lot of cash flow, you got options, and you have freedom. So, the money, the cars, the travel, all that is awesome. It’s fun. It’s one of the reasons I push as hard as I do is because of the freedom. I want to be unemployable. I don’t want to be told what I have to do every single day.
Matt: Awesome. Awesome. I’m sorry, and how old are you again now?
Corey: I’m 27. I’m getting up there now.
Matt: 27, yeah.
Corey: I’m getting up there.
Matt: All right.
So, that was Corey, and you know that he was at the last intensive. And we’ve got the next intensive is actually coming up pretty quickly. And at this intensive, we’re going to show exactly what I showed Corey how to do and how he’s been able to achieve those results. And so, if you have the time, if it’s going to fit in your schedule, I would love to invite you and have you be a part of the next Epic Intensive. You can go to epicintensive.com. You can get all the details there. And, yeah, it’s just one of my favorite things to do is work with people face-to-face in kind of a workshop type of environment. We can get just so much more done. And so, if you can make it, I would love to have you there. Go to epicintensive.com.
Now, if you can’t make it if it’s too soon, or you can’t make the arrangements, or you got some conflicts, the other part of that, the big foundation of what Corey was talking about is how he got to do real estate with very little to no money upfront. I mean he still doesn’t even have a marketing budget. He doesn’t do any money on marketing. And so, we put together recently a pilot program case study group because I’m out to make some more case studies just like Corey. And so, I took the essence of what’s really made him successful, and I put it into this pilot program. And it’s a free course. It’s actually better than free. I’m going to pay you to complete the course to help you do your first or your next deal using very little to no money.
So, if that resonates with you more than actually coming and working at the intensive with us face-to-face, you can go to freerealestateinvestingcourse.com. Freerealestateinvestingcourse.com. And then, I don’t know, we won’t be able to work face-to-face, but we’ll work together virtually. All righty? So, I’ll see you next week on another episode of Financial Freedom Friday. Take care.