Introducing Matt Theriault, the Marine turned music producer turned real estate investor. Matt knows what it’s like when the fortune turns against you, and he knows that best life-changing advice can come from the people you expect least. Tune into this week’s podcast and learn all there is about Matt’s magical journey.
Best Advice Comes From Unexpected Places
After having served in the Marine Corps, Matt took a career path many would deem unconventional — he became a hip hop producer. However, the timing was against him: by the time Matt had reached maximum momentum, the digital download came along, changing how people consumed music and completely disrupting the entire industry. After 15 years, Matt’s services were no longer required in the self-publishing world of music.
With no college degree — thus, virtually no ability to compete in the labor market — Matt turned to his last resort, bagging groceries. “I had to eat,” Matt said, and at the time, nobody wanted a “music entrepreneur.”
This lasted for about 6 months. The advice that changed Matt’s outlook and gave the refreshing push to keep pursuing new goals came from his grocery store manager. On one occasion, Matt’s superior — who’d been bagging groceries for more than 20 years — told him that over the years, he managed to acquire several real estate properties, and that the residual income those properties generated would exceed the manager’s pension. At 36, the grocery store manager could officially retire and live off his passive real estate income.
For the future-to-be millionaire, these were the magic words.
The Key to Successful Real Estate Investment
One of the biggest mistakes real estate investors make is they put too much emphasis on the market ‘value’ of a location, and underestimate the importance of property management expertise in the area:
“It’s number one. If I don’t have a relationship with the [property management team], I’m not going there. I’ve been burnt that way too many times.”
According to Matt, the qualifications of the property management team in place play a core role in his real estate investment decision making — even a market of mediocre value but with strong property management teams is more attractive to the entrepreneur rather than a sought-after market with weak property management.
To learn more about Matt’s beginnings and his sharp-turning life story, tune into our podcast at the top of the page!