In episode 136 of Real Estate Investor Summit, Mitch Stephen interviews Dr. Matt Motil about his life story on how he went from failing to succeeding and then repeating the process. He goes into detail on how he was able to finally change his mindset and create the life he always wanted!
Mitch Stephen’s is a passionate speaker who delivers the message of integrity first and profits second; an expert at keeping it simple and explaining, in plain English, the theories that made him financially independent. He is always an inspiration to those around him.
Let’s get started…
Mitch Stephen “Real Estate Investor Summit” Episode 136 with Dr. Matt Motil
1. Who Is Dr. Matt Motil?
He lives in Cleveland, Ohio on the west side.
He is doing real estate deals all around the country.
He went to college and got a mechanical engineering degree. He had no choice in whether or not he was going to college.
He gained a lot of momentum from college, giving him a feeling of “taking over the world,” and once he became an employee, the momentum was gone.
It took him 15 years to find that momentum again when he ultimately fired his boss forever!
He knows the feeling of being stuck in a place you hated, and wants to help people in the same situation.
Both Matt and Mitch felt college wasn’t for them.
Mitch Stephen’s didn’t receive a degree, but just attended a few classes. He felt he shouldn’t be learning how to make money from people that didn’t make that much money.
They both suggest, if you are going to college because someone told you to and you really don’t want, it’s smarter to not go. You save time AND money.
At the age where you are supposed to pick that degree, your brain isn’t even fully developed yet. So if its your OWN choice, and you are unsure, remember that student loans are almost impossible to pay back. Do what is in your best interest.
Say if you really want to go to college, and finances are holding you back… struggle through it.
This world is filled with people who don’t use their degrees.
College is your own choice, it’s just their opinions.
3. How To Replace Your $125K Salary Job..
Matt was able to leave his $125K salary job when his rentals passive income overcame the bills at home.
He realized when he was an employee if you need the paycheck, you put up with the “crap” included in the job, and when you don’t… you don’t. And finally he didn’t need that paycheck.
In an employee mindset, it doesn’t matter how much effort you put in, because at the end of the day it’s the same paycheck.
He does mention there is comfort in a paycheck, and when your salary grows your debt expands to your means.
It was sometimes scary with everything being on him.
4. Mitch Asks “Tell Me About Working Full Time and Working Part Time on Real Estate..”
Matt first started with the LiveNFlip.
It was very stressful working both, but ultimately at the end of the day it was worth it.
There was a lot of sacrifices along the way.
Matt would work 50-60 hours a week at his full time job then would try to work on building a rental portfolio.
5. Life At Home, Relationships, And Family…
Matt’s first wife wasn’t on board with the idea of real estate, and he felt unhappy in that marriage.
At the age of 30, Matt was diagnosed with cancer, and realized life is short.
He was in a toxic work environment, he wasn’t a good dad, and didn’t have a lot of friends.
He thought… if I died, what was my life worth?
From that point forward he decided he only wanted positive people in his life.
Matt changed his life. He re-picked his friends that weren’t for him.
He eventually got divorced and remarried.
His wife now, Amy, is on board and they share the same vision.
She came on board with the business and they now grow the rental portfolio together.
They are exact opposites, so together they are perfect in the work setting.
Over this whole time frame, Matt realized relationships are hard, no matter the situation and ultimately we are wired to take care of ourselves first.
It comes a matter of you saying to the other person I need this in my life, and them not being able to provide it. This is where you ultimately see you two aren’t a good fit.
Relationships either grow with you or against you.
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