This is part 1 of my conversation with Matt Picheny. Matt is a real estate investor, a Tony Award winner, and the author of the #1 best-selling book: Backstage Guide to Real Estate. He is focused on developing passive income streams that enable investors to write their own stories and choose how they want to spend their time. Matt has over 15 years of experience revitalizing and elevating communities through real estate investment and has invested in over 8,000 apartments nationwide. Matt is a member of the Forbes Real Estate Council, the Fast Company Executive Board, and is an advisor to a PropTech company.

In this episode, Matt Picheny talks about his story of how he got involved in real estate. He recalls that in 2001, it was a turbulent time for the economy, and his business went bankrupt as a result. This experience helped him realize how important real estate could be, and gave him the impetus to get back into the industry full-time. He shares his experience of acquiring his first deal and how it took him two years to develop the right relationships and obtain the capital needed. He shares that it took him another year to acquire his second deal and another year to secure his third deal. For more information about Matt, please visit picheny.com!

[00:01 - 01:48] Struggles of Starting a Real Estate Business

• Matt tells a story about how he got into real estate

• His struggles with his business and need to figure out what to do

[01:49 - 18:15] Teamwork and Transparency With Investors To Succeed in the Real Estate Industry

• Matt hiring qualified employees
• The importance of being comfortable stepping outside of one’s comfort zone in order to grow
• He recommends investing if they have experience in running a business
• He shares the difficulties of starting a business and the importance of teamwork
• The considerable amount of time and effort to succeed in this industry
• The “law of the first deal” is not always true, he explains, and it can take many years to achieve success

[18:16 - 21:51] Closing Segment

• Matt recommends not trying to copy others’ success, as each person’s story is unique

• His background as an actor and producer makes her unique and helps him connect with people in the real estate industry

• To learn more about Matt, visit picheny.com!

Tweetable Quotes:

“Anything that's worth it in life is hard work, and today's real estate environment is very competitive.” – Matt Picheny

“You got to find the right deals at the right time with the right people.” – Matt Picheny

Connect with Matt through his https://picheny.com/, LinkedIn, Instagram, his Book (Backstage Guide to Real Estate), or email him!

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