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The REtipster Podcast | Land Investing & Real Estate Strategies cover image

Don't Fear the Zeros: How Matt Theriault Built His Real Estate Empire From Scratch

The REtipster Podcast | Land Investing & Real Estate Strategies

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Don't Be Afraid of the Zeros

The insight shared is about not being afraid of the zeros, implying that the effort to flip a house worth a hundred thousand dollars is the same as flipping a million-dollar house. The speaker reflects on how discovering cheaper houses in Memphis boosted their confidence, leading to success. They regret not realizing earlier that they could have achieved similar success in Los Angeles with the same effort, highlighting the lesson that the presence of more zeros in a deal does not make it harder. The discussion further delves into the psychological aspect of fear related to large numbers, with the speaker emphasizing a paradigm shift that removed such fears by realizing that the lack of money is not the actual barrier.

00:00
Speaker 1
Gosh, there's a few of them. But the one thing that comes to mind right away and I was just at a Christmas party and they asked like if you could go back and tell you one of the questions the table topics that they surrounded around the table was if you go back and tell you're give one piece of advice to your younger self, what would it be? And immediately it came to me was don't be afraid of the zeros meaning it takes no more work to flip a hundred thousand dollar house than it does a million dollar house. And in the beginning, you know, being from Los Angeles and you know, I think the median price in Los Angeles that time was $350, $400,000 something like that. But when I made my first trip to Memphis and saw that houses were 50 grand, I got so excited and my confidence just went through the roof and that's when I really started to succeed. But it was only the, but looking back, I could have done the exact same thing in Los Angeles with the exact same work, the exact same processes, the exact same steps, the exact same conversations, everything and made 10 times the money. So I would go back in it and that would be one thing, one lesson was like just don't be afraid of the zeros just because as a big thing, a big number attached to it doesn't make it mean it's more difficult or scarier.
Speaker 2
Why do you think we are more afraid of the zeros? Like, I think I am to some extent and like, you're right. I mean, I don't know why doesn't make a logical sense. I mean, I don't know if I'm thinking somehow there's a bigger consequence if I screw this up versus a small deal when like, either way, I'd be kind of screwed. So I don't know. But what do you think is going on with people's heads?
Speaker 1
There's one paradigm shift that that I had that really kind of changed everything for me. And it just removed that fear altogether. In fact, it almost reversed it was when you don't have any money, you think that's the hard part, right? You think like, I got to want to put a offer on a million dollar house where would I possibly get that money?

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