We often hear “rags to riches' stories, but today, we’re taking you on a rollercoaster story of someone who started as a young millionaire, got hit by bankruptcy, and had to reset to make it all back and more.
Matt Theriault became a millionaire when he was only 30. When He got out of the Marine Corps, he spent the next several years in the music business, living the dream and the life, making lots of money. Little did he know that this luxury lifestyle would end soon after the music industry shifted to digital download.
Matt shares the struggles he went through after his business was hit by bankruptcy, how he worked below-average income jobs to make ends meet, and finally how he overcame it all to make more money than he ever had before
Key Talking Points of the Episode
[01:55] Matt’s real estate journey
[05:33] How discovering how to make real wealth in real estate transformed Matt
[07:13] Starting out as a Real Estate Agend and Matt’s first deal
[11:47] His mindset about money and the definition of wealth
[15:01] How Profit First creates a wealth mindset
[20:32] Velocity Investing
[22:34] Matt’s advice on streaming cash, paying yourself first and using assets to buy more assets
Quotables
“Real estate, it's the final frontier where the average person has a legitimate shot at creating real wealth.”
“And certainly I would have never discovered it and never would have stumbled upon it unless, you know, I had that great upset in my life.”
“Having experienced both of those large bank accounts, but having to work and then a small bank account and not having to work, I liked the smaller bank account and not having to work better.”
“And in the opening chapters, [Rich Dad, Poor Dad] Mike was just, he was really reading my life. Like you make a lot of money, but at the end of the year, you don't have any left. You just keep on spending every single thing that you make. And it doesn't matter how much you make, you just find a way to spend it. And I was like, you know what, you're right.”
“Real financial freedom comes from streaming cash rather than saving cash.”
“Pay yourself first and then pay your bills with what's left over.”
Links
EPIC Real Estate | Download your free Real Estate cheat sheets
https://www.epicbreakthrough.com/?r_done=1
Join the Profit First for real estate investors Facebook group
https://www.facebook.com/groups/ProfitFirstREI
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