How Matt Amabile Hit Financial Freedom & Increased Net Worth 300K Through ONE DEAL

Matt Ambel, how are you doing buddy?

Brian Lubin. What's up brother? Doing well. Appreciate you having me on. Long

time coming, brother. Me and you have been kicking it. When we were employed, man, we were both gainfully employed in corporate America and then. Now look at us. Look at us here. . matt: Man. We, we had that initial conversation and you inspired me too. You were like, I just joined J D C and these guys put this different mindset in my head. So I started this thing and. I've watched you just grow and grow, and it's inspiring and inspired me, man. Glad to be here. Glad to be doing this. Now we're full circle, man, because , , I wanna start off on this post that you made in our group, man. To give the people an understanding of what we're talking about today, cuz we're gonna go into the first half of your. Story how you did the same thing parallel to what I did. So it's cool to get different perspectives. And then in the back half, we're gonna get super into some of these commercial deals that you're doing because you had a $600,000 net worth flip and that is insane, man. A one deal. So I will read you guys his post. So this is Matt in our group. He goes, wanted to recap on my year. Here's some of the big miles. Quit my W2 job. After reaching financial freedom, traveled for two months to the West Coast in Puerto Rico. Bought my first commercial property, $600,000 purchase and had just appraised at 1.25 million. Developed a much deeper spiritual connection with myself through meditation, yoga, and spiritual education. Decided to start a podcast. Left a relationship. Joined GoBundance. How old are you?

25

baby. 25 years old. All right, Matt, welcome to the show, , matt: dude. Yeah, again, happy to be on man. And yeah just hearing all that stuff. It's been an awesome year. Great, grateful, and when you look back at the things you've done it's easy to write things off in the moment. What am I not doing? Right now and what is the action I could be taking right now to be as efficient and effective as possible? But sometimes we need to sit back, see what we've done. And your group, when you put that Wednesday wins out there and I just took a look back at what this year has done for me in one year. Yeah. It's gets me excited for next year. Where am I gonna be at this point, one year from now it's. Really good to, to take a look at that type of stuff. Oh man. Absolutely. So let's take a step back a little bit and we'll go a little bit into your backstory. Walk us through your W2 job, what you did and how you got introduced to Financial Freedom Movement in general, and how you got started investing in real estate. Walk us through those first couple of deals and then we'll fast track right to when you had your exit point. Cause I really wanna stick there for the first 20 minutes or so because there's a bunch of transition questions I

wanna ask. , so I think it first starts off where I learned about financial freedom is coming right outta college. I am I go for a trip to Europe. I travel for around a month and a half and it only costs me around $5,000. So I see there that if I could make some type of income around $5,000 a month, and I don't have to be location dependent, I could go over and travel to Europe and do these things. Even if I'm working at the same time, I could do that for $5,000 a month. So that's what I need to make at that point. I am working in New York. I'm sleeping on my cousin's couch. At one point my girlfriend breaks up to me, so all e everything is just shitty at that time. So I'm like, how do I get off this couch? So I start learning about personal finance. I read Rich Dad, poor Dadd. I do the typical thing, gets me involved in real estate. I buy a house. From the house hack that takes a little while to do a big renovation on, it's a four unit building. It was condemned, learned so much from that. But then from there, I started doing doing the real estate thing, buying more real estate with my partners building up cash flow and building me to the point where I'm at, where my cash flow can support my lifestyle and I can live off of that cash.

So what made you wanna do the partnership model in the beginning? Obviously you had your first house hack, and then what made you take the jump from doing the solo show to playing a team sport? Because that's something a lot of people struggle with, especially in the beginning, is figuring out, they're like, I want everything to myself. And then they can't think about splitting it up and divvying it up with other people. So can you speak to that process and kind of the pros and cons? , matt: right? So I had the same idea, right? I wanted all the real estate, I wanted all the cash flow, and that's one thing that I did not sacrifice. I knew that I had an area and I had the local expertise. I had the, I was the boots on the ground. So I knew that I could leverage. As a negotiation tactic to get somebody to come in on a deal with me if I found a great deal with equity built into it. I knew I could get somebody to come in with me, put money down. So that's one reason why I wanted the partnership model. I didn't have a ton of cash sitting around to go buy another property. So if I could find somebody to put down half of that amount to buy that property with me, that would make it even easier for me to buy. So that's one reason. The other reason is I strategically structured these partnerships to buy small, multi-family buildings, buy in two, four, and three unit buildings with a partner. Who was only interested in an equity gain, a net worth gain, and the tax write-offs from real estate. So he wasn't interested in the cash flow. I was interested in the cash flow, so my agreement with him was, Listen, I'll put down 50% to buy these properties. You put down 50% to buy the properties. You don't have to think about it. I'm gonna manage the deal. I am going to manage the tenants. I found the deal. There's equity built into the deal, so we can refinance right away, but I get to take all the cash flow. I'm doing the management. You don't touch it. You can take tax benefits, but I'm taking all the cash flow out of this deal For me that was, I still get the hundred percent, the hun what did I want from real estate? I didn't care about net worth, I didn't care about anything like that. I wanted the cash flow. That's what's gonna get me out of the route race. So I strategically structured it so that I still get all the cash flow, but I only have to bring 50% down to close. Okay. And then when you were closing on these, was this like a 20%, so you were bringing 10% of Purchas.

Yeah. We had some 10% down hard money loans. And then we were able to, we were buying these things like a duplex at 160 k that was worth at that time to a hundred k, and then at the market was crazy. So three months later it was worth 220 K. Even putting 10% down on the 160 K, we're putting 16% down. Once we add the two 20 K value, and we're only 160,000 into it, you do your refinance with a two 20 K value, you're pulling out your whole 160 K injection in there. So that's . Yeah, so basically I used mostly hard money to get in, so I didn't have to bring as much down to the table for your

own.

For my own percentage, for my partner's percentage. He was, got it also one, one way that I structured those deals and decided who I wanted my partners to be. I didn't know a lot about banks. I didn't have bank power. I didn't have the bank account to show to these banks. This guy had that and he had the bank connections. That was, Good thing about my partnership is that he could talk to the banks, he could bring in different lenders and have all these types of creative financing options for us. Yeah.

I love the idea of it because you go back to the deal triangle that we talk about on the show a lot, where you either need the knowledge, the money, or the hustle. And so you were like, Hey man, I've got the knowledge. So you were especially lethal because you had the knowledge and you had the hustle. You just needed the capital and the banking relationship, the assets, the balance sheet. So when you're doing these deals I like the idea of it, right? About taking the cash flow, managing the deal. You're like, I'm gonna take this headache, but give me the cash flow. You take the balance sheet. So what do you not, did you sacrifice equity position in these deals? , how was this? Did you have zero equity or did you just structure it to where he had a majority stake of equity? How was that?

No, it was a 50 50 equity split,

So he just got to write off everything as the depreciation, so he got to write off a hundred percent of the tax benefit. You just got to keep the cash flow correct. Yep. Genius. Genius. So walk let's put a pin in that. Let's stick on that point. Explain that 0.1 more time for somebody that's listening that's maybe new to the game. Like a lot of the people in the Action Academy community, cuz it's split in half. Talk more about that specific process about how you leveraged depreciation for cash flow. Because that is freaking genius. More people need to do that,

right? I honestly, I'm not a genius. I don't Yeah, you're right. You're terrible. I don't even try and I don't even try and say I am. Like I, that's a great

idea. I don't know. Nobody talks about that. I

don't know dude. And it's just such a I know of the concept of it. I know Hey, you want to take the tax benefits from it. Take it. And so I let him take it and he used his account and he also let the business write. the tax as well. So like the cash flow that I was getting every month, all of that was pure cash flow. I was still getting all of that money tax free, paying no tax on that. He just got some extra benefits to pull into his personal portfolio and take a little bit of that take a little bit extra of that cash flow or those tax benefits there. Honestly, as far as that stuff, I don't know about how it's done. I, all I know is I got, I wanted to give the

deal all I care about my brother in Christ, all I care about is how you structured it, right? , that is all I care about. How, so how did you find this guy and what does this conversation look like?

So the way that I found him, I was introduced, I was trying to buy a building, and this is the importance of networking and real estate, right? I was trying to buy a building from one guy. He introduced me to his lender so I could try and buy his building. I didn't end up buying that building, but I got introduced to the lender. So now I'm talking to this lender and I'm trying to buy another, And I'm talking to this lender about low down payment options, all this stuff. He's I don't think I could get this done for you. But he's but I have an investor who buys deals also, and I think he could be interested in this. So what I did is I set up a time and a, a. The a zoom call with this investor. I took, I went on bigger pockets. I made all the spreadsheets. I did the rental calculator. I showed the ROI that I'm getting on my current deals and on deals that I can find for him and for us to buy together and basically showed him like, Hey, I've got the hustle and I've got the knowledge, just like we talked about earlier. So if you've got the capital, we can make this happen. And I basically built that relationship. Show them, and it's easy, right? You go on bigger pockets, you plug in these numbers, it spits out a sheet for you, and it says, This is your return. This is your cash flow. This is what you do, and you look like a freaking expert, like you created this document, . For the guys who don't know about bigger pockets, you look like this genius. Basically utilize that and talk to that sheet. Obviously I knew my stuff at that time. I could talk pretty fluently about it. And made him trust. No and trust me enough. throw in on a deal with me.

Man, that was freaking genius to do that because everyone's, everyone is always so flustered about like that binary thinking is what it's called. It's all or nothing. Like A or B, and you're like, Hey man. Look, this is what I want. You are very crystal clear about what specifically you wanted, right? And you knew what you didn't want. You were like, okay, so I need to find somebody that's on the other end of this equation. So if you guys think about it from Matt's perspective, cuz I think how you structured it, what's the correct way? Because you need the cash flow. You need what's almost called like fast. To be able to get out of that job. You need that recurring cash to be able to earn your freedom. And then once your freedom is earned, then that's when you can start focusing on taking the equity plays and start doing the big commercial deals that we'll get into in the back half of the show, where all of a sudden you start having the net worth swings. That's the game, right? So it's all the, it's all the question of how do I generate X amount of. Per month so that I can leave my job. So what were you doing for work and how much did you need? So you said you needed $5,000 a month to basically live around Europe and stuff. Yeah. Was that your number?

Yeah, so five 5K was my number and I thought I was hitting that at 30 years old. I wanted to get to $5,000 a month. And, I tracked my expenses pretty, pretty deeply to make sure like that number is actually viable at the time. I was sleeping on my cousin's couch. I was paying him $400 a month and rent. But even with that with my gym expenses, couch, even like couch fire dude. It's it's so worth it to do something like it humbles you so well and it creates, this mental capacity to live below your means, but you know what? I was tracking all my expenses. Even with that $400 rent payment, I was only spending around between 2,600 to 3,400 a month. And, when I jumped into my house hack, it's now I don't even have a rent. I don't have the $400 rent expense. So it's all I'm paying for now is gym, the gym, food, and, whatever else I want to go do. Whether it's traveling or going out with friends on the weekends. . brian: Yeah. And I know that some people may listen to this and they're like, oh, cool, must be nice. Like single guy, like young doing this, right? No, no kids, all that good stuff. But here's the thing, you could still apply the same concepts that you applied just at a larger scale. So maybe that number's $10,000 for you, which, for me, I know after doing this, trip around the world for half of 2022, I'm like, I can live like a freaking king for. $7,500 a month. Just me. Just me. But that's paying like 4,000, three $4,000 for Airbnbs, like really nice ones that's paying for eating out each and every meal. Like sometimes really nice restaurants. It's paying for flights that's paying for like literally traveling around the world. My average was that 7,508 grand mark. So it's like back here, like when I'm at my house hack or when I'm about to go to Austin, it's go, it's back down to. 3,500 for a grand, but it's just right. Think about your number. Get really crystal clear about what your goals are and when you're in your job, the more that you wanna leave, the faster that you wanna leave, the more you need to focus specifically on the cash flow. On the cash flow. Now for these properties you said you were focusing on the small multi you just were focusing on long-term tenants. Did you do any short-term? How did you, what kind of properties were you looking. Yeah, everything everything was long term. I do a lot of section eight. The reason I like section eight, especially for my base, I call them my base portfolio. What built me up to, 7,000 in passive income, I. I can rely on that 100%. I know it's coming in cuz it is section eight. It's paid by the government. I know that check is guaranteed to come in every single month. Yeah, I was focused on long-term tenants. The one Airbnb that I actually do have and I still do it now cuz I'm like, it's just it doesn't make sense for me to not do it. My mom lives about 20 minutes away. My house hack right here. So I have my apartment, almost like the Craig Kop method, right? Yeah. I have the house if you guys don't know, I, he's been on the show before, but the House Hack strategy Craig Kop, he's the author of that book, published by Bigger Pockets. But so I rent out this apartment on Airbnb Three days, I'll go stay at my mom's house and this place will make me an extra 600 bucks a month. And then I could just take that, like 600 bucks for three days. I'm like, how could I literally say no? When I'm gonna go to my mom's house, she's gonna make me some chicken noodle soup and I'm gonna, hang out and have a good time. , so I Airbnb this, everything else is a long-term, long-term rental.

So when are you gonna upgrade, man? When are you gonna upgrade from the Chicken Noodle Soup For the Soul, bro? No, like I, I'm a hundred percent all in, I'm all in, I'm all for tracking expenses and frugality, like hell yeah, right? Run it. But it's just I've reached a place where it's, you almost come full circle. Just like kind of documented my journey live on this podcast too, where it's I was in the high rise apartment and I was. And I was just like, okay, I don't want to ever pay rent again. So then I get the house hack, start the house hack strategy. You become addicted to it because now you're not paying for that mortgage, you're not paying for that rent. You start reinvesting that money into coaching mastermind's, real estate, whatever have you, and you become addicted to it because it earns your freedom really quickly. But now I'm full circle to where I'm, to the point now where I'm three years deep into this and I'm just, Hey, for me to get to the next level, I'm sick of living in the freaking basement of my own property. So now I'm getting a long-term rental. I'm gonna rent again for a year in Austin, Texas, and it's probably gonna be a pretty freaking nice place because now that I've traveled around the world, it's like environment really matters to me. It doesn't need to be for like the bougieness of it, but more so just for my mind space. I want my environment that I'm working in, that I'm in to reflect like what I'm moving towards and be in an area that's like buzzing. So I'm kinda curious about your thoughts

on that. Yeah, no, and I 100% agree and if I was in the mindset that like, I'm just gonna do this forever for the rest of my life, that would be a very toxic mindset and it would it would not enable me to. Accelerate financially, because I would be like, you know what? I could just stay here. I'll be fine. And safe. That's the number one thing. I don't like safe.

I like to be with the meatloaf. The meatloaf, ma . matt: So I've got one, I'm okay with doing this right now. I'm headed to Paris in February. I'll be there for a month, and then I'm, I'm popping around Italy, I'm popping around Switzerland, Germany, all that good. Spending some time out there, but my goal is for next year, obviously, to grab even more cash flow, I would say once I build up another four grand in cash flow. Yeah. Uh, Passive cash flow, I'm gonna be, I'm gonna be living nice and not, not even passive, it's just Quitting the job and losing, $180,000 a year is boom. Like, where does that money go? So now it's, me creating other sources of active income as well and being able to build income coming in. on my own. Right now this is a safety buffer. It's if all else fails, I've got this thing to sleep in. I've got this thing that will pay me money every month. I'm safe. But again, I, safety is nice, but it makes you comfortable. And I'm stepping outside of that step, definitely stepping outside of that. Next year I plan on renting my own place. by the end of the year. But my problem too is I don't want to be locked down to one place for a year. So if it's a month to month lease or something like that, I feel that, I feel that a way to remedy that is to go travel around the world for six months and you'll figure it out real quick. You'll be okay with

it. And you'll value having one place to stay.

Yeah. Contrast creates clarity, man, because it's just I was bouncing around so much. I was on a plane like every other week for just about six months. So it was just like I did it and it was fantastic. And I still wanna take trips. I think how you're doing it is like a superior way of doing it now that I've done it like a month or two at a time. Because what happens is you have this hedonic adaptation to it, and then all of a sudden you're spending a month in Mikonos, and then you're looking out and you go over to the coast of Brazil and you're like, eh, Rio's, okay, . You're like I was just living in Mikonos. And then you're like literally in Rio and you can't fully appreciate it. Whereas if you were living somewhere and you go to Rio I don't know, from Jackson, from Jacksonville or somewhere. You're like, whoa, holy crap. Look at this. And then as soon as that moment happened where I was like looking out on my like Florida ceiling windows, like looking over the Brazilian coast, I was just like, oh, this doesn't do anything for me right now. That's a problem. So it's time to get back. Walk me through. So I left my job a little bit before you did, , walk me through you submitting your notice, you're resigning from your job. Walk me through that month after that. What, how's your mindset? How is your emotions? Walk us through that transition cuz it's rare that I have people on here that are fresh like I am. So I'm curious about your perspective.

So the week after I was leaving my. I was headed to Puerto Rico for a month, so it was already said and done nice. I was just going and I even had the conversation with my boss at the time. Cause I just actually got assigned a new boss. I was like, Hey. I'm like I'm really not doing much for you guys. I still make sales, but I'm not doing much. I could if you want, I can keep doing this, but I'm going to Puerto Rico next month, so I'm really not gonna be doing anything for you guys. So at that point we decided it was best for me to leave Mutual. Yeah. The best best for me to head out. So like I was off, I went to Puerto Rico. The one thing I did start getting stressed about, but I needed to take a step back and see these things are gonna happen. My cash flow is still coming in. I wanted to become confident in my cash flow that it's going to show up every month. It's gonna be in my bank account, and I'm gonna be able to not lose money and not be in the negative every single month and even be in the positive. One thing a little bit stressful about Puerto Rico is groceries. Super expensive over there, man. Really they have to ship, they have to ship everything back to the US for it to get like to the mainland US for it to get inspected. Then it has to get shipped back and dude, like a thing, I eat so much food. But yeah, a thing of grapes is like $9 over there for

A pint of grapes. I think it's the same thing with the Dominican, like I saw it was like $7 for a stick of deodorant and. So here's one thing that like, I didn't like people talk about, geographic arbitrage and all this stuff, and I get it. I, I 100% do, if you're out of the main cities and you're out in the countryside around the world, if you're in rural Brazil, like off some, like an hour or two out of Rio, then yeah, like for sure you're gonna have arbitrage. But I learned to be true. And you probably realized this. Around the world. I think inflation's kicking everyone, bro, because everywhere it doesn't matter what the currency is, they're just going to affect it compared to the Euro and to the dollars. I'm like, bro, I went everywhere. . I'm like, bro, this is more expensive than America. are we all talking about? Yeah, I was in Brazil and it's he eyes, it's five to one US dollar, but now it's just like I go to a meal. And now it's a hundred I in which is 20 US dollars. I'm like, bro, I'm paying the same . matt: Same thing, same. America's actually kind of cheap . It's weird. And cuz America's such a consumerism based society too, Yeah. We have so much coming in. When there's so much supply that we have the pricing that, that they can offer to us is so much lower than what they can offer to a land that's, only bring. one, 100th of the actual supply that, that's coming in over there. And like economy is a scale, economy is a scale. All the way. The one, the, some areas that like you are going to see definitely a pricing decrease. The Thailands, the Balis, you know all those. Yeah. And lodging area. Lodging is different. Lodging is different. Like you can pay the Airbnbs in the hotels. You can pay and get a lot. For not that crazy

of a price. I noticed that. Like you living in the king Man, when I saw that. One, you, you playing with the monkeys. That was cool. Yeah. And then that where was that huge window scape like views of the ocean? Was that Brazil, was that Rio?

Where was that? Yeah, that was floss that was Flori in Brazil. So it's an island in South Brazil. So I lived there for a. Out Florida ceiling, windows, this six bedroom house. But here's the thing, right? Like I did that. It's beautiful. It's amazing. I had my own Jeep that I was driving around, but it was just me, man. It's just me. . . So like, it wasn't as fulfilling, like the achievement was there and it was cool. But then it's just it's crazy how it's like the grass always greener on the other side. While I was doing that by myself after my relationship ended, I was just like, dude, I. Kill to just have someone to go have a beer with on a Friday, right? To just go with the homies and just call somebody and be like, yo, you want to go to, do you want to go to a freaking Buffalo Wild Wings and grab a beer ? And like people that are over there doing the same thing, they're just the answer to everyone's question is, it's just diversity is the spice of. It's just newness, diversity. So you always have to change things up. And dude, I remember when I was leaving my job it was a Wednesday and my boss called me in and he was scolding me. I don't think I've shared this story. He was scolding me because he said he's like, Lubin, come here. And I go in the office and he's he showed me like this video. And it was me sitting courtside of the Spurs game with Aaron Amuc stadium. You told me this on a Thursday, bro. And he was just like, He's like, why is this showing you in San Antonio and you just posted this everywhere? He's you're just in San Antonio on a Thursday sitting course outta a Spurs game. Like you're not a remote worker, bro. , right? I was like, and I like my boss, bro. I was like, mark. I think it's time. Brother . I think it's time, man. But,

That was, and how many times before that, how many did you have moments before that, that you were on the phone or talking to your boss where you were like, , I, this might be the moment that I do it. Had you had other instances or was that the first

one? Micro. Micro moments. Because I did. So if you're about to quit your job, I'd recommend doing what Matt did, not what I did. Cuz I was planning to leave in July. So July 6th was booked in like February, so January, February, March. Like I had the plan. The plan was booked in July. The plan originally was to continue working until. . But what started happening was I'm working on Action Academy. I'm working on all these side hustles and all these affiliates and then in the real estate and then I'm ignoring a lot of my w2 now I'm still performing. That's important. I'm not just sitting to the side, I'm still putting up big numbers. But these small deals, like I was closing massive deals, like a huge, like that would keep the lights on basically for me. Cause I was closing big ones. But these little ones would call in and they. Like these little deals, and I just was not driving out an hour to these little deals I was ignoring. And then these little skeletons started building up in this closet, just slowly but surely till eventually it was all these like little paperwork, like Lubin, you're not submitting your paperwork, Lubin, like you're missing this conference call Lubin, you're doing this. And then eventually got to the point where the closet was just like, overflowing with these little skeleton bones, man. And Like, when I opened it, it was just like overflowing and I said, I was just like, Hey, it's time to go. And I remember leaving that job and I had the freaking music playing in the car. I was trying to make something eventful out of it, but it didn't really hit me. You know what I mean? I was just like, I was leaving Fulton Industrial in Atlanta, Georgia, and I was just like, all right I'm done. It's am I supposed to celebrate? It's like a Wednesday. No one's available. Everyone's working. . All right. Alright.

And it is like it, it's. I was waiting after I quit dude, where's the confetti man who's throwing this stuff? I'm financially free. I'm doing it. I did the thing. Yeah. And you're just sitting there, but then you you go inside of yourself and it's like, all right, this is uh, This is it. This is what we do now, right?

But that's an important point to now we'll reign ourselves back in, ladies and gentlemen, sorry for we, we just went off on a little bit of a tangent, but to reign it back in it's important to note that because that's true of all things in life and business. Like you hit your first million, everyone's whoa, like you expect like fireworks to go off. It's like you hit financial freedom. Everyone expects fireworks to go off, but really it's just like another. It's gonna be the same thing in your business too where it's like you're gonna head a million dollars of recurring revenue then 10 million and maybe half a hundred million dollar business, or like close that 500 unit apartment complex. And it's important I think, for us to find reasons to celebrate ourselves. Because what happens is if you don't celebrate these wins along the journey, then you're never gonna celebrate 'em. Cause there's always gonna be another level

always. , brian: So on that note, man, let's pivot. Let's pivot and knock down this commercial deal that you did, because we were just talking about getting your cash flow for your financial freedom. You flew to Puerto Rico. That's fantastic. That's super fun. Now you're coming back and you're doing big boy deals, man. You're swinging the bat, right? So talk about this commercial deal and how you ended up increasing your net worth by $600,000, getting this asset and then having zero money out of pocket by the end of it. So it's actually. It's not a full 600 K. Because I did. In Canceled Podcast. . Podcast

Canceled.

No No more. Podcast is canceled. Take it out, cut 'em out. Don't need it. I, so I brought partners in on that, so that's why I had 0% into it, 50 50 partners. How this deal worked out is I found a I was talking to an agent and I was about to buy, I was trying to buy a duplex from her. It wasn't that great of a deal, but it had some equity built into it. It ended up going under contract with someone else. So I asked her, I said, do you have anything else coming up? She said, yeah, I actually have a six unit coming up. Same seller. So I said, all right what? What do you got there? What do the numbers look like? And at that time I was also working on the side of building up my investor base of guys who wanted to buy these types of deals and who were willing to put in the capital to buy these, to buy deals if I was able to find good deals. So I would be able to buy these with no money outta my own pocket, and I would get 50% equity. So she shows me the six unit. I just see immediate income potential for everyone listening. If you don't dig too much into commercial real estate, they will appraise things based on the n o income, right? Based on the income that it brings in. Income minus expenses divided by the capitalization cap rate. And I did my math. Real estate is a math problem. I saw that with the rents that this thing could bring in. I put the value at this building around like 1.1 at the time, once it was stabilized and the seller only wanted around 600,000 to buy that building. . So I brought one investor, tried to put it under contract, and this investor was scared. He just never did a deal that big, even though he talked a big game and he said he would do it if we found one. I found the perfect deal. He didn't want to do it, so I almost gave up there. I took that deal, I posted up on Facebook, I said, Hey, these are the numbers. This is what I'm seeing. This is what I think can happen here. Is anybody interested in either lending on this deal or buying this deal? I got a lender that reached out to me. Now they're my good friends and partners at Leverage Capital based outta Newark. Blowing up Newark, basically. But so we go into contract together and we agree to buy this building, my earnest, and there was no risk here. My earnest money deposit was, it was a thousand dollars on a $600,000. Oh no, it was a hundred dollars on a 600, $600,000 purchase. So no risk there. Locked the deal up. I was able to get these guys to come in and buy this deal with me. The, and when I had this conversation with him it went just like this. I told him, Hey, I know this deal is a killer. I don't have the capital to put down on this deal. But I can manage the entire deal. I can stabilize it. I know the people in the town that we need to know to get this thing passed. And then once it's passed, I know the valuation will come in at least at a million. It's gotta be most likely over that they agreed to come. Put down every, and they were lenders, so they're mortgage brokerage too. So that's another strategic partnership on my side where they can get this deal lended to and give us the best terms as possible. So they brought every single dollar to close on this deal and every single dollar after that to do our renovations. It was about 60,000 in renovations, so 600,000 purchase, 60,000 in renovations. We had about 20,000 in closing costs and 30. And 20,000 in holding costs. So all in, were all in around $700,000. This building took six months to stabilize and get fully rented out. After six months, it just appraised at 1.25 million. We're doing a 75% cash out, pulling our money out. It's gonna bring us around 940,000. We have 700,000 into the deal. So that, that's a delta of around $240,000. You cut that in half with my ownership versus theirs, that brings me a check of around $120,000, give or take a hundred thousand dollars, right? The main thing being, I had $0 into this deal and I just created a hundred thousand dollars check and an asset that's gonna cash flow me effectively around 2000 to 2,500 a month. For your take

home,

my, my take home is going to be around 1250 on that. Yeah.

Like half of it. So you probably got 300,000 inequity, right? If you're 50 50 exactly. . That's how you do it. , matt: that's, it's like Time. One of these, one, one a year, and you're. So for people listening, so Matt, what Matt just did was he literally found one deal that's not even like that sexy of a deal. It was just a six unit. Like it wasn't this, like people talking about taking down 400 unit apartment complexes, like you found a six unit deal. That was able to increase your net worth by $300,000, put about probably 12 to $15,000 net cash flow in your pocket each and every year annually. Recurring And do it all with no money down.

No, no money outta my own pocket, ma. For me it's I what is my risk there? I have no risk. I have no money in the deal, so why not do it? Why not take the risk? See, even if I don't execute, all right, whatever, these guys are gonna hate me. Maybe they won't like me, but I knew I could execute. So I was like, fuck it, let's just do it, man.

Gangster man. Oh my God, dude. Hell, that's what we're doing now. And now you just hopped in, go abundance man. So it's just gonna be just higher and better and bigger deals moving forward. And now you've got an entire operating base of 830 other guys that are rocking and rolling across the country, so heck yeah, man. If people wanna learn more about you, where can they come and find you?

They can find me at Matt Amil. That's Matt, a m a b i l e on Instagram. Yeah, it's basically everywhere. Facebook, Instagram, TikTok is Matt Amil. Love it brother.

Dude. Absolutely rocked it. Long time coming, man. It's cool to be able to have the conversation with you. I think we talked in January of this year, right? And then to go from January to where we are now, like it's insane to think about

full circle, man. So next year is gonna be even. Dude, I can't wa I can't wait to see where you're at too with what you're building. This brand is amazing fully supportive, fully in it. I, if you guys aren't a part of Brian's group too, man, there is going to be some. Some huge financial acceleration for every single member in that group being surrounded by such a high powered entrepreneurial group. Man, I am so excited to see what that does. I'm so excited to, to keep growing with you, bro. And yeah, man, I appreciate you having me on so happy to be here, dude. Let's rock and

roll. Y'all give Matt a follow. And with that's been Matt and Brian with the Action Academy Podcast, signing

off hell.