Rich Dad Student Builds Portfolio with Turnkey Properties | 513

Rich Dad Student Builds Portfolio with Turnkey Properties | 513

Meet Miss Heather Lutz, a full-time registered nurse and a Rich Dad student all the way from Canada, who acquired a property in St. Louis, Missouri. Find out why Heather chose passive income, the process of buying a property with seller financing in place with Epic Real Estate, and how she coped with fear when she jumped on board.

Rich Dad Student

What You Will Learn About Rich Dad Student Builds Portfolio with Turnkey Properties: 

  • 2 things that Cash Flow Savvy clients always say
  • The only way to get better results to anything in your life, including real estate
  • Who is a Rich Dad student?
  • How Heather found Cash Flow Savvy and Epic Real Estate
  • Why Heather chose passive income, and why not? 
  • The property that Heather acquired through Cash Flow Savvy
  • The process of buying a property with seller financing in place with Epic Real Estate
  • Heather’s experience with property management
  • How Heather coped with fear when she jumped onboard
  • What she would do differently
  • How Heather would advise a newbie RE investor
  • The current top priority in Heather’s business

Whenever you’re ready, here are a few ways we can help:

Work with me One-on-One

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  • Grab my book, Epic Freedom ($1) 
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  • 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 to get started.
  • Also, check these out:


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Speaker 1: This is Theriault Media. So you wanna be a real estate investor. But you don’t wanna do the work. If there were only a way where someone else could do it for you. Now there is. Tune in here each and every Saturday on The Epic Real Estate Investing show for Turnkey Saturdays with your host, Mercedes Torres.

Mercedes Torres: Hello and welcome. Welcome to the Turnkey portion of Epic Real Estate Investing. My name is Mercedes Torres, and I am lucky enough to be partners in crime with Mr. Matt Theriault, the guy who created The Epic Real Estate Investing empire. So, as most of you know, our episodes now are on a daily release. And on Saturdays, Matt and I have decided to focus on turnkey real estate investing mainly because we see that there’s such a demand in this changing market. My goal is to really help that busy professional who understands the importance of real estate, but really just doesn’t have the time or doesn’t want to learn every single detail that there is to learn about real estate.

I’ve been doing real estate since 2003. Wow, so what? 17, 18 years. I just aged myself, and it’s safe to say that I’ve done over 2,000 transactions in my lifetime, not only for our personal portfolio but for others that did our turnkey. And when I was in the world of financing, I did my share of real estate investing, and goodness gracious there are so many details about just real estate in a transaction. You can’t possibly learn them all yourselves. One of the goals for me is to really simplify real estate investing as much as possible so that, that busy professional can absolutely benefit from somebody else’s experiences and knowledge.

The purpose of this episode is just to help you really dive right in so that you don’t have to learn every single detail about real estate. But more so, turnkey is so that you don’t have to do all the work. But you get to reap the benefits. That said, today’s podcast is an interview with a young lady by the name of Heather, who’s special. Well, all of my clients are special. I work really, really close with my clients. Not only do I personally become invested in them because I know about their goals and their plan, I end up knowing the kids’ names, I’ll know the dog’s names, I know just a little bit more about our client. But I always ask, “What are the two big takeaways from working with me directly?” Or just with a turnkey, and without a doubt they always say two things. One, they say it was way too easy. But number two, they wish they would have started sooner. They didn’t know that it was this easy to do. Well, that’s because we simplify it for them.

Heather’s story is not too different. As I was saying, Heather is special because she’s a full-time registered nurse. She’s a big fan of Robert Kiyosaki, and she was referred to us by the Rich Dad organization. We are lucky enough to serve so many of Kiyosaki’s followers and believers and so I get to know them personally, and then I get to hold their hand through the process.

Heather lives in another country. Without further ado, I’m gonna let Heather tell her story. But I wanna leave you with one little final thought before I let Heather take over the show. The only way you are going to get a different result to anything, whether it’s your diet, whether it’s working out, whether it’s spending more time with your kids, or even real estate, is you have to do something different. I’ll leave you with that.

So ladies and gentlemen, help me welcome to the show, Miss Heather [inaudible 00:04:29] from Alberta, Canada. We are lucky enough to have her on our show all the way from another country I would have to say. So Heather, welcome to The Epic Real Estate Investing Turnkey portion of our show.

Heather Lutz: Well thanks Mercedes, for having me on this podcast. I appreciate it. Thank you.

Mercedes: You’re so welcome, and welcome then. So let’s just jump right in Heather. Introduce yourself and tell us a little bit about Miss Heather.

Heather: Okay. My name is Heather. I live in Alberta, Canada in the Edmonton area. I’ve been working as a registered nurse for the past 12 years now. I currently work full-time hours. I started a slow real estate journey five years ago. Started out with taking Rich Dad courses, and I started putting into practice what I learned through those courses right off the bat. So yeah, that’s kind of where it all started from there is five years ago.

Mercedes: I love it. I love it. It all started with the whole Rich Dad. That’s, ironically, how Matt and I started. We read the book, Rich Dad Poor Dad. We caught the bug just like you did, and here we are 15 years later. Kudos to you. Heather, how did you find Epic Real Estate and Cash Flow Savvy.

Heather: Well, it actually started with you guys were recommended through the Rich Dad company. I get emails from them all the time, and one of the emails that I got from them, they had mentioned you guys. They recommended you guys, and so I checked your website out and between what Rich Dad had recommended you guys and your website, it just reinforced your credibility in my eyes. So I want to get a closer look or take a closer look with Cash Flow Savvy, so then I called you guys and just between the conversation that I had with you, and I was impressed with what you guys had to offer. I felt comfortable with what I heard, so I figured, “Oh, Cash Flow Savvy must be the real deal.” Definitely, I was impressed. I was happy with what you guys provided, the service that you guys provided.

Mercedes: Awesome. We’ve been very fortunate … Robert Kiyosaki and the Rich Dad team just [inaudible 00:06:52] so many of their students. It’s not uncommon listeners that you will hear a lot of our students say, “I was originally a Rich Dad student, and that’s how I found you guys,” because we’ve been lucky enough to just serve so many of their students. Just like you have, you’re starting to build your portfolio. We’ll jump right into your portfolio, but I wanna know, just out of curiosity Heather, why passive income?

Heather: Well, why not?

Mercedes: That’s a good answer.

Heather: Exactly. Let me elaborate. I love passive income. I think the idea of getting a check that comes my way without putting any work into it, other than the initial getting it under contract, doing the due diligence, it’s not that much time really. The fact that I’m getting this check, and I don’t have to work for it is great. I love it.

Working as a nurse, I work with some older nurses and hearing their stories that they’re of retirement age or they’re approaching retirement age and they can’t because they weren’t prepared to retire, that scared the crap out of me. I just did not want to be in that position when you’re in your 50s and 60s. I did not wanna be there.

Mercedes: Ultimately Heather, that is the reality of so many people. Not only across our nation, across your nation too.

Heather: Yes.

Mercedes: Yeah. I speak to so many people that are coming very close to retirement, like three to five years away, and they have no plan. I love the fact that … If you don’t mind sharing, how old are you Heather?

Heather: I’m 34.

Mercedes: Awesome. And you already have one property under your belt. I love it. So tell us a little bit about the property that you acquired with Cash Flow Savvy.

Heather: It’s a single-family property in St. Louis, Missouri.

Mercedes: So it’s in St. Louis, Missouri. Let’s talk about the property in itself. It’s three bedrooms, one bath, about 1,000 square feet. Right?

Heather: About like that, yeah.

Mercedes: Correct. And then so the reason I know this property Heather is because you were a little bit different because you bought this property with seller financing in place. So Epic Real Estate owned that property for quite some time before we decided to do the seller financing. Quite honestly, the whole reason we started doing seller financing was specifically for our out-of-country investors, specifically our Canadian investors, but it’s now branched out to investors all over the world. You picked up a property on seller financing. Right?

Heather: Yes.

Mercedes: Tell me a little bit about that. About your experience and the terms and all of that.

Heather: Well, I loved … now that you’ve mentioned seller financing, that’s what really got me hooked. It’s like okay, the fact that you’re leaving financing in place, it made it more attainable for somebody like me who got very little money to play with to begin with. But you guys left that … You made it obtainable for me to get into a deal because you left that financing in place.

It’s interest-only payments. With the fact that I’m able to cash flow with this deal, so the payments are very manageable. I love this setup with it because we use Note Servicing Center. That’s a third party that helps to … they’re the third person that … They’ll send me notifications and say when the payment is due, and then I’ll make the payment and then the process makes it easier. It’s hassle-free. There’s that third party in there to help the process of the payment to go through. It’s easy I guess I should say.

Mercedes: Absolutely. One of the things that we decided when we created our turnkey, number one was to mitigate as much risk as possible, but number two, to make it as easy as possible for our investors. We often say being a passive investor doesn’t mean that you’re completely inactive. But it does mean that we can make it a little less stressful on ourselves. So yeah, we do use a third-party servicing company to help both of us. To help you make your payment and to help us collect it so that everything is easy for you. And then we even set it up a bit further is we have our property management deposit your funds into the same account that you’re going to be using to make your Note payment. So everything is super easy and can be done with a couple of clicks. Are you experiencing that?

Heather: Oh yeah. It’s so easy. It’s really easy. In fact, what I like too with how you guys set up these investments is the fact that you vet out these property management companies in the local area that this property’s in, this market that the property’s in, and you’ve vetted them out, you made sure they had a good reputation and that they’re gonna do the job properly. That they’re gonna look after the property properly.

Mercedes: At the end of the day Heather and Matt says it all the time on the podcast. It doesn’t matter how great your property is if you do not have a strong property management team on the ground that’s going to oversee your property, ensure that they place paying tenants in the property, and then actually collect the rents and send it to you. That is 90% of the equation. We do go out of our way to make sure that all of our property management teams are not only on point but are on the same page. So glad to hear that you’re finding that with your property management team.

Heather: Yes.

Mercedes: Tell me a little bit about property management. Do you have one point of contact, and do you find that they reach out to you a lot? What’s that experience?

Heather: The property management company that I’m currently working with, they are great. I would definitely recommend them to anybody who’s wanting to buy rental property in the St. Louis area. I would definitely recommend this company because if there’s any issues that come up with the property, they will definitely reach out to me. Usually, the owner himself has been in touch with me if there’s been issues. He’ll say, “Look, here’s the issue, what do you wanna do? How do you wanna handle it?” They definitely keep me on top of things with the property. I on my own do it anyway. I know one situation I’m just thinking of with Kim Kiyosaki. I did a seminar with her and she just said, “You always need to keep your finger on the pulse with whatever investment you have.”

Mercedes: Absolutely.

Heather: If you let it run roughshod, then you’re gonna have a mess. I always keep on top of things with my property as well too. Between what the property management company does to keep me in the loop as well as me staying on top of things, it’s been great. It’s been so hassle-free. Really.

Mercedes: Hassle-free. One of the things … Yeah, our St. Louis team is great. But we also have to say the same thing of our Indianapolis team, our Birmingham team, all of our property managers are awesome. Not only because we operate in volume, but we do represent a big portion of their business. So they really do take care of our clients. Like yourself, the owner himself reaches out to you if and when there’s a problem, but I bet you he doesn’t reach out to you every month.

Heather: No, not every. No. Not all the time. No. That’s the thing, that just tells you that I’ve had very little issue with this property. It’s been-

Mercedes: Yay. That’s what we strive for. Awesome. What would you say for our listeners? What was the biggest learning curve when you first jumped on board?

Heather: It was the fear. That stinking fear. Chicken Little was squawking in my head. The goblins were having a party up there. It was so annoying dealing with that fear. The fact it was my first deal with you guys, pulling the trigger on that first deal, oh it was the fear. Big time. It was facing that. Even though all the things like I’d said earlier, the recommendation of the Rich Dad company, speaking with you, your website, the fact that from the time that I engaged in the deal and signed the contract, doing the due diligence, you guys helped me walk through it all. Even though all that stuff was in place, there’s still that, “Oh my gosh, what if it doesn’t work out?” What if, what if, what if. It was unfounded. At the end of the day, once I did it, I went through with it and then I got my first check and I deposited it into my bank account, it’s like I was telling my boyfriend, I’m like, “It was that easy?”

Mercedes: You know, Heather, I get that all the time. Even when I go back a couple years later and I say, “What would you do differently?” I always hear, “I would have started a lot sooner.” What would you have done differently?

Heather: I would have definitely … Knowing then what I know now kind of thing, yeah I would have done this a lot sooner. I would have … Yeah, I would have done it a lot sooner. It’s so silly how fear can stop you from moving forward or it paralyzes you. It’s stupid, but yeah, it’s ridiculous that the fear of unknown how it just it prevents from reaching your goals, your dreams or whatever you have that you wanna do for your life. It’s interesting how fear does that to you. But I definitely would have done this sooner for sure.

Mercedes: That’s awesome to know. And let me just tell you, Heather, you’re human. And that’s why you have fear. And you actually … I have to say that you had an additional fear ’cause you were in another country. You’re in Canada. Not only were you investing in another country, but you were not going to be coming here any time soon. It was a matter of you had to really confide in a team that came recommended to you. That’s awesome that you overcame your fear. Heather, I can’t tell you how many people I talk to that I speak to them, let’s just say today, and I speak to them in three years. And they’re in the exact same position that they were three years prior. You did something different Heather, and look, now you have an amazing property because I never hear from you. So that means it’s working.

Heather: It’s working. Exactly. And it’s great to see this slowly building up. But it’s building up, which is awesome.

Mercedes: Awesome. Now that we know that the biggest obstacle for you was fear, what would you say helped overcome that fear during the process?

Heather: I would say definitely with you guys being there the whole way helped me tremendously. I would say my boyfriend. I gotta give him credit where credit is due. He helped me to get through that fear. He just says, “Heather, just do it. Just pull the trigger. You know it’s good. You’ve done your homework. It’s good. You can do this,” kind of thing. The fact that I had the support with my boyfriend and with you guys, it helped me to get through that. Right? You guys deserve the credit that you make it easier. Make it easy.

Mercedes: Thank you. Thank you. We try to make it as easy as possible because when I started, Heather, there was nobody that I could call. There was nobody that I could pick up the phone and ask a question. Of course, there was [inaudible 00:19:48] and there were agents, but there was really nobody holding my hand. Matt and I often talk about we made a lot of mistakes because we didn’t have anybody to ask. We were the guinea pigs.

Moving forward, when we created our turnkey, that’s one thing that we wanted. We always wanted our people to have somebody that they could call. So not only do you get to speak to me the entire time, but you get a personal transaction coordinator that holds your hand through the entire process and answers questions that, to us, we get asked all the time. To you, they’re new. I have to say that our coordinators are amazing because most of them have done over 500 transactions, and I remember hearing you on the phone. I was like, “That’s Heather again.” But you suffered from analysis paralysis and girl, you did it. The fact that you did it says so much. In fact, I even see you asking questions about some of the properties that still go out for Deals of the Week so it sounds like you are looking for more properties now.

Heather: It hasn’t stopped. I’m not stopping any time soon. I want more. Now that I got a taste of it, I don’t want it to stop. I want my financial freedom. I wanna get out of the rat race, and I know you guys are definitely that piece of the puzzle to help people like myself to get out of the rat race. I’m tired of this. I’m sure other people feel the same way. They want out.

Mercedes: That’s a common feeling Heather. So thank you for taking the time and just being vulnerable and sharing your fear because it’s so common Heather. Why do you think that less than one percent of America actually does this? Because it’s scary. So many people are full of fear, and there’s that one percent that takes the step to make a difference in their future

What would be, Heather, the one piece of advice that you would give a new investor that’s considering jumping into real estate or considering a turnkey? What would you tell them?

Heather: What I would tell them is that they need to have a good team. They need to network, they need to have a good strong team. And I would recommend you to anybody to add you guys to their team. They need people like you guys to get started and then just build up from there. That’s what I would recommend to other investors who wanna get into this. That’s what I would recommend to them. Absolutely.

Mercedes: Awesome. So what’s the goal? What’s the next step for Heather?

Heather: I wanna buy more properties from you guys, that’s for sure.

Mercedes: Awesome.

Heather: What I wanna do is I definitely … The more I do this journey, the more I’m realizing I need to use other people’s money. I know Matt’s talked about it in his videos and you guys talk about it all the time on your website. I just think other people’s money is definitely that way to obtain financial freedom and to acquire more deals. So that’s kinda been my top priority right now is to grow a team of private money lenders so that way we can help each other reach our goals faster and obtain more passive income.

Mercedes: I am a big fan of other people’s money, and I love that you leverage as much as possible. Deals of the Week, sometimes we have the seller finance deals, so keep your eyes open Missy. The next deal is right around the corner.

Heather, thank you so much for joining us all the way from Alberta, Canada. Thank goodness for the internet that we are face-to-face and audio-to-audio. Thank you for joining us and I will speak to you soon. I will call you back in for an update when you get your second property. Does that work?

Heather: Sounds great for me, Mercedes. Thank you.

Mercedes: Thank you. Have an amazing day.

Heather: Thanks. You too.

Mercedes: Bye, bye.

Speaker 1:  Your portfolio has seen better days. But this too shall pass. And the best for you is yet to come. Together, we’ll get you there faster. We’re Cash Flow Savvy, and we’d like to share some information with you that will show you how you can take control of your financial future and accelerate its arrival. Go to More building. Less waiting.