If you have ever wonder why is knowledge power and how it impacts your success, today, we are adding layers on that philosophy, revealing another ingredient, which unquestionably dictates the prosperity of your business and shapes it more than education does. Learn how we established The Epic Pro Academy, why people don’t succeed in real estate even if they get a good education, and how we developed our teaching to help students bridge that obstacle.
What You Will Learn About Why is Knowledge Power? (It’s NOT, but this is…):
- Matt’s story before he started building The Epic empire
- How he got educated about real estate
- How we established The Epic Pro Academy
- What students’ biggest obstacle was
- How we improved The Academy to help them cope with the problem
- What has a more significant impact on your business then knowledge
Whenever you’re ready, here are a few ways we can help:
Work with me One-on-One
If you’d like to work directly with me on your business… go to REIAce.com, share a little about your business and what you’d like to work on, and I’ll get you all the details!
- Would you like to meet in person? Our next live event is right around the corner! Go to EpicIntensive.com for the details.
- 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, I’m Matt Theriault here at Epic Real Estate. And was wondering, have you been wondering, have you ever wondered why they say, knowledge is power? Well stop wondering because it’s not, but I’m gonna tell you what is on today’s episode of Financial Freedom Friday.
So, I’m in the car, obviously, doing the obligatory podcast in a car, but not to be cool, no. It’s kind of overdone, but I am doing it to multitask and get some things done because I’m getting ready for The Epic intensive. I’m actually coming back from Newport Beach right now, back up to LA. So, I’ve been sequestered in a hotel for three days working on the presentation for the intensive and if you’re watching this right now on the day that it’s released, that means you’re not at The Epic intensive because that’s where I am at right now. I did this in advance. Maybe next time you can join us, epicintensive.com, you can get all the details there.
Anyway, as I was putting the presentation together, I was thinking about, what can I teach, what can I share, what’s gonna have the biggest impact, what’s gonna make the biggest difference for the people that are there because knowledge is power, right? Or is it? Because I’ve been thinking about this for the last couple years and I started thinking about when I got out of the Marine Corps, I spent the next 15 years of my life in the music business, did really well for myself, made my million by the time I was 30. Living the dream, having a blast and this digital download thing came along and it changed everything. It turned that whole industry upside down, it changed so many lives, tens of thousands of lives. I remember Sony music laid off 10000 people, then Universal music laid off 10000 people and then it hit the newspaper that Sony was laying off another 10000 people. I mean, it impacted so many people, put so many people out of work, including myself.
In six quick months, I found myself bankrupt, divorced and bagging groceries. I literally went from a seven-figure salary to seven dollars in an hour. That’s how fast it can go. Before I took that job though, bagging groceries it’s not like that was my first choice, I was out there looking, got my resume together, tried to reach out to some connections and there was a lot of people in the marketplace looking for a job. And I found that there was very little value, at that time, for an out of work music entrepreneur because there was a bunch of us out there. So I was just like, “Well, I’m almost outta money. I gotta eat, I gotta keep a roof over my head, so let me just take what I can get until I find something better.” And that ended being at the grocery store.
While I was doing my research, entertainment was no longer gonna be an option, so I had to learn something new and I really missed my money. So, if I was gonna learn something new, I knew I wanted to go learn something that had a big income earning potential. Long story short that lead me to real estate. I spent a few years as a real estate agent because I thought that’s what I was supposed to do. I guess I was a rather slow learner because it only took me four years to figure out that, “Hey, if I really wanted all that money that real estate promises, I should probably be sitting on the other side of the desk because it’s not here, being a real estate agent.” So, I made that transition, made a large investment in my real estate investing education.
It was a very comprehensive program, taught you just about everything and anything that you’d wanna learn about real estate investing. I’m forever grateful for that experience. So after a couple years and I had achieved a certain level of success, applying that knowledge, I looked back because I would sit in a classroom with up to 300 people sometimes learning the same information, from the same instructor, with the same workbook, with the same textbook. Once everybody left and went out into the real world to apply that knowledge, there was wildly different results. There was a handful of people that, and to this day I still know that a handful of people and they’re still successful in real estate and they’re still doing it, but so many I’ve never heard from again and they complained and you can see complaints online on how it was a scam and it didn’t work, all this stuff. And I was just like, “Well, I sat in the same room as you did. How come it worked for me and it didn’t work for you?”
People just started to ask me, “How’d you do this? Can I pick your brain? Can we sit down for coffee? Can we go have dinner? Can we have lunch?” And I was like, “Okay. Well maybe teaching this stuff is the next evolution for me. When I was starting to make that addition to my business, this is what I’m gonna do differently.” I remember all those people that got all that information and they got nothing for it and they were pissed off about it. So this is what I’m gonna do, I’m gonna take all that education, because what I think they were really lacking because it was very modelized education like you sat in the classroom and learned about short sales, you sat in a classroom and learned about multifamily, you sat in a classroom and learned about wholesale, you sat in a classroom and learned about creative financing strategies. And the education was amazing, but once you took it out into the real world, you’re kind of at a loss of where to start. They didn’t really give you a step by step process, so that’s where I thought I was gonna be really different.
So, when I created my program, of which I did, nine years ago now, what is now known as The Epic Pro Academy, I made sure that I’m gonna put this in a step by step process. I wanna make it so simple that a five-year-old could follow it and do real estate. That was my intent, that was my goal. So, when we opened that up, we had some really good success stories right out the gate. Then it kinda slowed down and then there’d be one pop up every now and then, but what I noticed was as we were promoting The Epic Pro Academy and we would show evidence and proof of what was inside actually worked, I found myself sharing the same [inaudible 00:05:12] six to eight stories every single time I had the opportunity to talk about The Epic Pro Academy. And after a few years of that, I started thinking like, “Why do I only have these same people? I’m tired of talking about these same people. Let’s get some new success stories. Why isn’t anybody succeeding right now?”
So, I went through and called a bunch of our students and did a survey to find out where they were stopped, what wasn’t working, where they needed help, what was missing, what was broken? And what I started to learn was people would consume the information and either one, they never took action or if they started to take action, they were getting burned out in just the setting up phase. They would get overwhelmed with how to set up a website or they’d overwhelmed with which phone system should I use. And they’d take a survey amongst all their friends or take a survey inside of Facebook and find out which one are you using, which one are you using, they’d get totally stopped. They did that with CRMs and they did it with the email service providers and they just got to the point where they never got out of the setting up of the business, business. That’s the business that they were in and they’d get burned out on that.
It’d be 60, 90, 120 days in that process, nothing to show for it and they’d walk away with the idea that real estate doesn’t work. Well, the fact is they never actually got to the real estate part of the business. For those that were getting some good results, they had just skipped setting up the business entirely and went straight to the actual business of real estate, but because they didn’t have the business set up, they didn’t have the system set up, they had limits on what they could achieve and it would get confusing and be overwhelming. They were having to work a lot harder than was necessary to get the results that they were getting. So, I collected all this information, I met with my team, I met with Miguel, I met with William and said, “Okay. If we’re gonna continue to charge for education, then we have to make sure that’s actually making a difference. If we’re gonna feel good about it, we have to make sure that it’s making a difference for people. So, what can we do differently with the education, so it actually has an impact and people that sign up and put their trust in us, they actually get what they signed up for? All of the promises that real estate makes, how can we help them bridge that gap?”
Well, what we came up with was, “Well what if we just start doing stuff for them? [inaudible 00:07:18] all the stuff that they confused with, all the stuff that they get overwhelmed with, what if we just did all of that for them? That way we can get them into the real estate portion of the business and out of the setting up of the business, business sooner, so they can get into a money-making position, an income earning position much faster.” And so, we thought that was a great idea. So, we started doing that. It started to work, it started to show some really great results and this is what’s now known as The REI Ace Program, but it continues to evolve. So now, after every time we have a new group of students come through, we’re like, “Okay. Now we know a little bit more. We’ve learned a little bit more. We’re seeing the results. What can we do to get them even closer to the goal lines?” So that’s kind of the metaphor that we use is, how close can we get our students to the goal line, so that all we have to do is just kind of give them the ball and they can just step across the end zone and score.
After about two years of this, our success stories have multiplied by 10. Obviously, we had a breakthrough in getting our students results and this really came to me as I was setting up The Epic intensive presentation, there are certain sections where we put the little testimonials inside of the presentation. I’ve got too many to use now. I can’t use everybody’s and I really want to because there are so many great stories and they all come from so many different walks of life, overcoming so many different challenges and they’ve all achieved amazing success. Defying all odds and overcoming all their challenges. And I just wanna share, share, share, but I couldn’t. But that was a good thing because it says, what we have done is making a difference.
So, the conclusion that I’ve come to is knowledge is not power. And because it’s not power, that’s why we’ve decided to no longer charge for it. In the day of Google, you can get just about any question answered that you want with a quick Google search. It’s all out there for free, so how can we charge for this? Through The Epic Real Estate Investing Podcast, through our YouTube channel at epicrei.tv, we hold nothing back anymore. You might have heard us say that or myself say that a little bit more frequently because that’s the new motto. We’re just giving it, giving it, giving it. It’s all yours because knowledge is not power. Applied knowledge is power and because applied knowledge is the powerful portion of that equation, that’s what we charge for. The information is now free, the implementation of that information is what we charge for.
I’m no longer a guru, I’m a recovering guru. Gurus sell information, I no longer sell information. We’re a service provider. We provide systems and services for real estate investors to help them get the results that they’re looking for. That’s the business that we’re in. So, with that said, what did you notice? What did you learn? What is opened up for you? Go ahead and share with me what you noticed, what you learned, share that with me below. I read them all. I’m looking forward to reading them. If you have any questions, put those down there too, I’ll be happy to answer them. If you like what you heard, go ahead and click the like button. If you know somebody that this would help, go ahead and share it with them. And now you know the truth, knowledge is not power, applied knowledge is.
I’ll see you next week, on another episode of Financial Freedom Friday.