M att Beard went from personal trainer to real estate guru. Here’s his advice for getting rich while you’re still young enough to enjoy it.
First and foremost, ya gotta get crystal clear on what you wanna achieve.
Only when you do that can you work backwards to figure out the questions you need to ask, the people you need to meet, the books you should read, the courses you might wanna take. Right?
So figure out your vision – the story you’re trying to live – and stick to it like caramel from a Milky Way bar does to every nook and cranny of your mouth (which is why I can’t stand those things!).
Second, get good at making money.
Treat it like any other skill. “If I practice this every day, I’ll get better at it.”
Also, focus on what other people don’t do, won’t do, can’t do.
“When I first got started in real estate,” Matt says, “I kept telling myself I didn’t wanna go do door knocking. It just seemed so extreme. But the reason I had so much success with it early on is because no one else wanted to do it.”
Third, invest in yourself.
Instead of blowing tens of thousands of dollars on a Walmart automation store, which is incredibly risky and unlikely to last, buy books and courses and coaching to acquire more skills.
The front runners being sales, copywriting, digital marketing, and media buying.
Matt’s fourth component for getting rich sooner rather than later? Looking for asymmetrical opportunities.
The heck’s that?
Anything where the upside is far greater than the downside.
Real estate’s at the top of his list. Yes, there are market blips here and there, but if you look at house prices from the begging of time, they go up and to the right. So if you’re playing the long game, you’ve got unlimited earning potential; and the only way you’d lose money is if you were forced to sell early.
And if you’re not overleveraged, that should never happen. So for Matt, real estate’s a no-brainer.
Fifth is just keeping it simple.
There’s people making millions of dollars doing landscaping, plumbing, roofing – businesses that have been around since your daddy’s daddy was smoking indoors, taking “the belt” to kids, and being openly, unapologetically racist.
So like, leave the innovation to Elon Musk. All you need to do? Is go execute on something that’s already proven – like real estate.
Even Alex Hormozi says: fancy fails, simple scales.
Sixth, learn to live on less.
Matt uses an app called Albert, which helps you automatically budget, save and invest your money. Over time, this is what allowed him to break the make-$1-spend-$2 cycle and build a bankroll to acquire more properties.
Seventh is leveraging your resources.
Time, money and relationships, right? Are you making the most outta what ya got?
Once Matt was doing deals consistently, he began reaching out to gurus, like, “Yo, I’m doing these deals. I need help. Can I bring deals to you? Can I make you some money?”
Some of ’em said yes; Matt came through; and then he got what he needed in return, whether it was advice on scaling or funding for bigger projects or a connection he otherwise couldn’t have made on his own.
Speaking of which, his eighth and final pillar is OPM – learning how to use other people’s money.
This is the biggest hack of all. When you can get other rich people to believe in you, and actually cut checks to team up with you? The hell with 10x, that’s when you can 100x your growth.
Matt has a No Fluff Challenge and Mastermind for new real estate investors if you’re interested.
