Interested in real estate investing and looking
for a plan? Well today, I’m going to give you one. It’s an example of a real estate
investing business plan or maybe even a game plan, if you will, that helped me build Epic
Real Estate. It’s a really simple example, easy to follow that you can just rip off and
use in your market to achieve your financial freedom. Go ahead and click the subscribe
button. Ring the bell. I post cool stuff like this each and every week. Alrighty, let’s
do this. This is Theriault Media.
Hi, my name is Matt Theriault. I’m CEO of Epic Real Estate and if you’re looking for
a practical example of a real estate investing business plan, then I’m going to share with
you the very one that set Mercedes and I free, as well as many of my Epic clients, and when
we’re done, if you’d like some help, some extra help with yours and putting it into
action, I’ll show you how to get that type of one-on-one support.
Now, a real estate investing business plan, it’s important because if you don’t have one,
I mean who knows where you’re going to end up. But when you have a proven one in place,
your destination, it becomes very predictable. I was thinking the other day about when Mercedes
and I when we got started, we had a very simple basic game plan and it worked out wonderfully
for us, and this is the game plan that I’m going to give you right now.
We started by just flipping properties to generate some cash and then we started doing
really well for ourselves, and once we had a comfortable amount of reserves in the bank,
we were like, okay, we’re making this money, but we’re working every day to do it. We’ve
got to shift our focus to creating some residual money.
Our initial plan for creating cash flow was this. We would flip five houses, then we’d
hold the sixth and we did that a few times. Then we were like, okay, I think we can now
flip four and hold the fifth. So, that was our plan for awhile. Then, we’d flip three
and hold the fourth and then we’d flip two and then hold the third and ultimately, we
would just flip one, hold one, flip one, hold one, and eventually it created enough residual
income where we didn’t have to flip properties at all anymore to pay our bills and survive.
Once we got that residual income to exceed our monthly expenses that paid for our lifestyle,
we then redirected that excess cash flow to create more cashflow. Our assets were buying
assets. We were working less and less for money and our money was working more and more
for it. So, our money was creating our wealth. Does that make sense? I’ll show you how we
did that, but if that makes sense to you, just type in the comments below, “That makes
sense.” All right, let me show you how we did that.
I’m going to call this business plan, the Epic Game Plan, and it comes in three phases.
Phase one, this is the milestone of financial independence. That’s first. We’re going to
go after financial independence. This is where you are in control of your income. You are
in control of your profit and you don’t need a job to support yourself financially. You
are in total control of your own finances. This is where you become your own boss. If
you’re going to be financially independent, you can’t be dependent on somebody else, right?
So, you have to become your own boss, you have to be dependent on you. That’s where
the independence comes from. So, step one is to become your own boss.
Step two is to decrease your expenses. To make this happen in the beginning, you’re
going to have to cut back on the excess, most likely, depending on your situation. Perhaps
you might even have to make some sacrifices, but it won’t be for long, so exercise a little
bit of patience, hang in there. Then, step three is you go to work. You’ve
got to work like hell because you’ve just become your own boss, right? But what so many
people forget is that in the beginning you’ve also become your own employee, as well. Business
just doesn’t run without employees, so you’ve got to wear both hats for a minute. Become
your own boss, you become your own employee, and then you work, work, work until you get
your active income to pay for your lifestyle. Got it? That’s phase one.
Phase two, financial freedom. So, you’ve got your financial independence through your active
income. Your freedom is going to come as a result of your residual income. Well, that’s
now the big focus. To do that, you start by developing systems, systems around your income
generating activities. The mission here is to get your income generating activities to
happen with or without your direct participation, and then once those are in place, it’s time
to start acquiring cash flowing income properties, and as fast as and as many as you can responsibly,
of course. Then the third thing in the freedom phase
is what I call a poor man’s version of asset protection. You want to start diversifying
the locations of your properties. You want to diversify income properties geographically.
You want to diversify your teams, as well. That kind of happens as a result just by default
of you diversifying your locations and so you stay focused on these three things until
your residual income pays for your lifestyle. Do that, and the second phase of financial
freedom, it’s going to be yours. All right. Phase three, wealth creation. You
see, once your residual income is paying for your lifestyle, you’re going to keep going
with this plan, but redirecting the excess residual income that you create towards creating
your wealth. This is where your money starts to make your money and this is the big differentiator
between the common person and the wealthy person, meaning
most people go about creating wealth the slow and more difficult way, they just work, work,
work to save this giant pile of money so that somewhere down the road someday they’ll eventually
be able to create a residual income from that big pile and then they can go ahead and live
life then. They never effectively make this shift from
they working for their money to their money working for them. You see, most people, they
just don’t earn enough to save enough to create their wealth before the most active years
of their lives are over. But, when you have residual income coming in at excess, you’re
able to live and enjoy life right now and your wealth, it just gets created automatically.
This is where Robert Kiyosaki got a lot of backlash when he said, the rich don’t work
for money. Do you remember that? I think it’s lesson one of the Rich Dad Poor Dad book.
People were like, what are you talking about, the rich don’t work for money? A lot of people
had a really, I don’t know, a twisted idea of what that actually meant, but what he really
meant was they don’t work for money, their money works for their money.
This is the real estate investing game plan that I’m giving you right now on how you actually
make this happen for yourself. In this third phase, wealth creation, you’re going to be
making a big shift from working in your business to working on your business. You’re going
to be managing your assets to create more assets. Your cashflow is going to be creating
more cashflow. The second thing here in this phase is you’re
going to become a manager of managers. You’re going to manage the property managers that
manage your properties. This is where you start to become a true business owner. Then
third, the next level of preserving and protecting your freedom, and and above and beyond the
legal structures that you’ll obviously put in place, you’re going to want to start looking
at diversifying your assets. See, Mercedes and I, we got started just flipping
single family houses and then we started holding single family houses. We then moved to some
duplexes and fourplexes. Then, we got ourselves a 14 unit building, a 16 unit building, an
18 unit building, and then we got a 44 unit building, and then a 50 unit building. We
diversified into multifamily. Then, we started looking at our books, and what we did is we
crafted a nice little balance between all of the tax advantages that real estate gives
you and then also all of the potential active income that we could make. So, we structured
our portfolio to maximize our income by minimizing our tax liability.
We did that by investing in and creating seller financed notes. This is what this did for
us. It increased our cashflow, the notes increased our cashflow, and then the property that we
held onto, it offset the extra tax burden that that extra cashflow from those notes
created. We started with single family, we added multifamily, and then notes, and now
we’re adding vacant land to the mix. But take note, we’re doing all of that after we achieved
our freedom, right? This is part of our wealth creation mode.
Most people start diversifying all of these assets way too early. They go too wide too
soon when they should be going deep right at the beginning and sticking there for awhile.
If you’d like to start finding the deeply discounted off-market deals that make all
of this possible, I’ll show you in just a second. But first, if you’d like some help
creating your own Epic business plan, and even more importantly, executing the plan,
check out this video, I’ll put it right here on how you can get some one-on-one help doing
just that, okay? I’ll also put a link down below for your convenience.
Now, how do we find these deeply discounted off-market deals? Well, I made this video
on that very thing just last week and you can click right here to check it out. Don’t
forget to like this video, subscribe to the channel, and feel free to share it with someone
you know who also might find it useful. Alrighty, see you next time. Take care.