RG 115 – EPIC Real Estate: How To Build Credibility As A Newbie Investor with Matt Theriault
- Matt used to work in the music industry
- Matt has also been a Marine
- Matt got into real estate after talking to a grocery store owner
Nuts and Bolts
Matt is a real estate investor with a cash flowing portfolio of over 100 units that he’s grown over 10 years. He made his first dollar at school working on a lemonade stand and selling candy to his school friends. He had a bit of an unusual route into real estate but he always had an entrepreneurial drive. However this drive made him a terrible employee as he always thought he knew better than his boss. He started in the marine core and then went to work in the music business doing small label hip hop. He lost everything when technology moved on and cd’s stopped being used but he blamed everyone except himself. At his lowest ebb he got talking to a grocery store owner who told him about real estate and showed him his portfolio in the shop. He went home with a bottle of wine and had a think, then made a commitment to buy and sell and found a real estate investment course.
The first thing he learned on his course was driving for dollars which is driving up and down streets looking for houses to renovate. He found one that was half way through a rehab and had been abandoned. He found the owned and bought the property under contract as he didn’t have the money on hand. His mentor went through the ROI and the rest of the process with him and kept 20% of the profits on the first deal. It was 8 months until the next deal which he found by going through Craigslist and attending REA events. He realized that there were a lot of people with properties that they couldn’t sell so he approached them and said – I’m going to an event, can I put your property on my flyer ad if I find you a buyer will you pay me a referral fee? By doing this he became well know as the guy who always had a property on the go and was always hustling.
He worked flipping properties and had a winning formula but realised he needed to hold onto some properties in order to get a cash flow. So he started flipping 5 and holding 1 and then when that settled he increased to flip 4 and hold 1 etc, and now he holds everything. He getting properties from turnkey providers in the mid-west who were travelling out to California to sell their stock and so mid-west properties became his specialty. Matt is on his 9th year of his podcast Epic Real Estate Investing. He also runs a do it yourself membership programme which teaches people about real estate and allows them to do it at their own rate. So Matt will hold your hand as you go through the process but you do all the heavy lifting. He also offers a Done For You service which holds a fund of credited investors and you buy shares of their projects.
- Most important habit – Going to the gym
- Most influential person – Richard Kiyosaki
- Most important tool – Voxer
- Contact – listen to epic real estate podcast