49. Your Backstage Guide to Financial Freedom Starring Matt Picheny!

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Welcome back Entrepreneurs, we have an amazing guest for you today! Matt Picheny is a two-time Tony Award winning producer, author of “Backstage Guide to Real Estate” and a multifamily investor with an amazing story to tell! You will hear heartwarming stories about the importance of persistence and the power of a smile. You will learn about the parallels between Broadway production and syndication and I hope, find ways in which your current experience may play well in a real estate career! His advice to people wanting a smooth transition to a career in real estate – “don’t quit your day job” (what a surprise to hear that from someone in entertainment LOL). Are you ready to learn? “Rolling!”

Timeline
1:05 Who is Matt Picheny?
2:35 What does a Broadway Producer do?
5:46 Parallels between Broadway Production and Syndication
7:25 The power of persistence – and a smile!
12:09 Investing in Broadway Musicals
13:52 506(b) vs. 506(c) deals
16.27 Advice for leaving W-2…
16:51 …Don’t Quit your Day Job!
17:07 Getting his start in real estate
…and much more!

Matt´s Story
In 2001 during the dot bust, Matt´s digital marketing clients dried up. At that very same time, he was given 90 days to vacate his rental. He decided to buy a house instead of renting and, when he sold that house 2 ½ years later he was able to quadruple his equity! This accidental foray into real estate got him thinking – there might be something here! He describes himself as an overnight success 10 years in the making.

Matt’s Ethos – Doing Well by Doing Good

·         Improve the NOI while improving the environment
·         Water conservation
·         Follow your passion and find ways you can make it profitable
·         Matt’s passion for preventing homelessness

Best Unconventional way to Increase NOI
If you are in an area near high-rises, you can sell your air rights.

Books that Have Forged Matt Picheny as a Leader and an Entrepreneur
Rich Dad, Poor Dad by Robert Kiyosaki
The ONE Thing by Gary W. Keller and Jay Papasan
Principles by Ray Dalio

How to Reach Matt Picheny
Find Matt at his personal website: https://www.picheny.com