Matt Amabile on the Military Millionaire Podcast

Matt Amabile || Retiring happily at 25 with Real Estate

David Pere: What's up everybody? I am here with another wonderful guest on the Military Millionaire Podcast. This is Matt Amabeel. He is coming to us live today from his room because he's awesome. And I don't know where I was going with that. But anyway, so Matt is a stud. He and I met briefly in Tahoe, but we were all over the place and didn't really get to hang out and talk there. And we've gotten to hang out and talk a little bit online and got to hang out on his podcast about Two weeks ago, hit it off, finally got to talk for a little while and I really like this dude. He's got such a cool story because he started out at a young age doing the whole corporate thing at 25 or at 23, jumping into real estate and by 25 he had 22 doors and he had left corporate. He had started traveling the world. He had 7,000 a month in passive income and he was like, deuces, I'm out. And then like so many of us do. I'm out turned into what's next.

Matt Amabile: Mm.

David Pere: And now he's crushing it with the Financial Freedom Fest podcast and just living it up with mentorship and coaching and more real estate and wholesaling and deals and just hanging out with cool people and yoga and Costa Rica soon and just living it up. And it's just cool. You know, I like hanging out with people that have just having fun. and living the life on their terms. And that's what Matt's doing. So there's my intro. It's all over the place. And Matt, welcome to the show, buddy.

Matt Amabile: Dude that intro is great man. It's humbling. I appreciate you talking about me like that man and I Appreciate hanging out with people like yourself to know how to take life a little bit easier Enjoy themselves and build up the life that they're trying to create from them for themselves So appreciate you Dave and looking forward to digging in today wherever we end up digging in

David Pere: Yeah, man, absolutely. So, okay, so you started corporate, walk me through, how'd you get started? How did Matt stumble into real estate and decide that, I mean, I guess you were in corporate. When'd you realize that wasn't it?

Matt Amabile: And yeah, so basically right when I got out of school is when I realized that it wasn't it dude. So I right out of school came out with no debt. Luckily I went into school got full scholarships, all that whole thing and came out with no debt, academic scholarships, all that good stuff. And then I went on a European trip. So I went to Europe with my girlfriend at the time for around a month and a half. And then Started real life, you know came back from this European trip went to Paris Switzerland Greece Germany Like basically all over all over Europe got to see a ton of stuff Have a great time and then I come back and I am I have to work in New York area making $55,000 a year working a sales job. I have to I don't have to but I choose to sleep on my cousin's couch so I could save money. I'm paying my cousin $400 a month to sleep on his couch. And so all that goes down and my girlfriend breaks up with me. And this is my girlfriend of around a year and a half. So at this point, I'm not really making great money. I'm sleeping on my cousin's couch. My girlfriend breaks up with me. in my head, I'm like, how am I going to get another girlfriend? I'm sleeping on my cousin's couch. I'm not making great money. I got to figure everything out. So from there, I started looking into personal finance, man. I Googled the top personal finance books, Red Rich Dad, Poor Dad, Millionaire Next Door, Rental Property Investing by Brandon Turner, found out about house hacking,

David Pere: second

Matt Amabile: went and bought a four unit building and From there, I started partnering and buying more real estate. That's kind of the short and quick man, but I realized that the corporate lifestyle was not gonna be for me. I didn't like having to go somewhere and realizing that every week, 50 weeks for a year, around 50 weeks for a year, somebody could tell me that I have to go somewhere because I have expenses that I need to pay in my life. So I needed to figure out how to get out of those expenses and how to be able to create some type of income that I didn't have someone telling me that you have to come in and come do this.

David Pere: Yeah, I love it. Where'd you buy the fourplex? Where's that at?

Matt Amabile: So that's in New Jersey. It's actually where my entire portfolio is. It's in a town called Phillipsburg, New Jersey.

David Pere: You just, is that where you from there or was it close to kind of where you were commuting?

Matt Amabile: Yeah, so I actually, it's a funny story. I grew up here from like zero to seven years old, eight years old, and my parents moved at that time. My sister was going to high school and my parents did not want my sister to go to high school in this area because at that time it really wasn't the best area. It's still not an amazing, amazing area, but it's much better than it was. So we moved out of the area, went to a different farm town, grew up by... horses and cows and farmland, all that good stuff. And then ended up the price to rent ratio in this area when I was doing my analysis that I learned from Brandon Turner and all guys like that, like the price to rent just made so much sense and my cashflow was gonna be so stupid to move here. And I found a four unit building that I would be able to live in one unit, rent out the other three and make... I was thinking at that time maybe around 800 on top of getting free rent. And now with how it performed, although there's a huge story of renovations and nightmare contractors, it was a condemned four unit property issues with the town, issues with the bank, issues with everyone, people breaking in, all this different stuff going on. But at the end of that, now I have this four unit property where I'm actually doing this I have a four unit property. I live in one apartment and the other apartments make me around 1800 bucks a month in cash flow. So it's a rockstar property.

David Pere: Yeah, that sounds rad. And I mean, way better than, uh, you know, $55,000 a year in New York, which, uh, I don't know that there's anywhere in the state of New York, but that goes very far to

Matt Amabile: Right.

David Pere: my knowledge.

Matt Amabile: Yeah, it doesn't do much for you, especially if you're going out on the weekends and partying and

David Pere: Yeah, try to live it up at 20.

Matt Amabile: Yeah, exactly

David Pere: Yeah, yeah, no. $55,000 a year doesn't go very far in

Matt Amabile: anywhere.

David Pere: most places these days. I mean, even well, you know, I say that that's still above the median income here in Southwest Missouri.

Matt Amabile: Mm.

David Pere: But we also the average or the median home price here is only like 220, 222, I think. So,

Matt Amabile: Bye.

David Pere: you know, but I think that's going to change as people realize that over the next couple of years and go, oh, we can move there.

Matt Amabile: Dude, and how crazy is that too, right? It's like affordability is the new big thing. And that's why, that is a big reason why I invested in this area. It is a very affordable area. It's one of the only areas in northwest, northern New Jersey that you can get a three bedroom apartment for. It rents for 1700, but everywhere else in north, northern New Jersey, a three bedroom apartment is like 2400 bucks, 2500 bucks. So a lot of people come here because of affordability. There's a good amount of demand rolling in from people who just want to be able to buy a place that costs less than normal or live in a place that costs less than normal. The average single family house here is right around your price point as well. It's right around $200,000 for a single family row home. So people are coming in and I feel the same way, man. I think these affordable areas are just gonna keep rocking and ripping.

David Pere: Yeah, I love it. So, okay, so you bought 22 doors in two years and you mentioned partnerships. How did you, I mean, that's... forplex. I mean, I would imagine you probably went you go FHA.

Matt Amabile: To yeah FHA. It's a 203 K loan.

David Pere: Oh,

Matt Amabile: So

David Pere: all right.

Matt Amabile: so

David Pere: Walk me, let's talk about that, and then I'll get to my next question, because that's not a whole lot of people have actually done that or know about that. So I'd love to hear a little bit about that process.

Matt Amabile: Dude, not a whole lot of people do the 203K loan

David Pere: Yeah.

Matt Amabile: and behind the VA loan, I think the 203K loan is the most powerful loan that is realistically out there for other people to get. So, 203K loan, you can get your purchase price and your renovation coupled into one large loan. So, let's say you have $150,000 purchase price and $150,000 renovation all in that's $300,000. you only have to pay three and a half percent on the entire renovation and the purchase price. So on the $300,000 loan there, you'd be looking at $10,500 down and you'd be able to do this huge renovation where you could add tons of value to the property. So my property in particular, there was a bunch of negotiations that went on. I ended up getting this for around $140,000. put in $120,000. But for me to actually close on that property, I only needed to bring with different inspections, I had to hire a consultant, a 203k consultant, they're called. This is someone that comes in and actually helps you to create a scope of work for your renovation. And they bring that scope of work to the bank and then they help you come in. And they will look at the work that contractors have done just to underwrite it and make sure that the contractors are doing work properly because you as a 203 K, someone getting a 203

David Pere: getting into it.

Matt Amabile: K, you probably don't know how to run a renovation. So they help

David Pere: They

Matt Amabile: you

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Matt Amabile: out

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Matt Amabile: along

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Matt Amabile: the

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Matt Amabile: process.

David Pere: the process.

Matt Amabile: And

David Pere: And

Matt Amabile: yeah,

David Pere: yeah,

Matt Amabile: so you only

David Pere: so

Matt Amabile: have

David Pere: you

Matt Amabile: to

David Pere: can

Matt Amabile: bring three

David Pere: get

Matt Amabile: and

David Pere: three

Matt Amabile: a half

David Pere: and

Matt Amabile: percent

David Pere: a half percent.

Matt Amabile: and you're able to do this huge value add. So I went

David Pere: So I

Matt Amabile: in

David Pere: went

Matt Amabile: on

David Pere: in

Matt Amabile: this

David Pere: on this 62.

Matt Amabile: 262 is my loan. It values out now at around $420,000. And again, it cash flows a stupid amount because it's FHA, but it's a really good way to get in low money down and still do a big renovation, big value add.

David Pere: Yeah, no, I love that. In fact, it's even crazier. You mentioned the VA loan. They have a renovation product that

Matt Amabile: Mm.

David Pere: almost nobody knows about because it's only been around for like five or six years and for a while, only Loan Depot had piloted it as actually funding it. And there's not a whole lot of lenders still who will play ball with it. Although I know a couple of brokers who will mess with it, but same thing. It's a bit of a process and everything, but yeah, it'll do zero down on the whole purchase and reno. And it's

Matt Amabile: That's nuts.

David Pere: kind of crazy some of the stuff that it'll cover too. But it's not an easy thing. So it's not ideal for most people, but they'll

Matt Amabile: Right.

David Pere: even do new builds with the VA loan,

Matt Amabile: Wow.

David Pere: which is solid. And in fact, you can even build a... barn dominiums with it. Some kind of crazy stuff with the VA. I'm like, man, I'm gonna build a barn dominium someday and just live in that thing. I'm like, can I build a, I'm like talking to my friend. I'm like, what if I build a barn dominium and then I build like a causeway and a triplex so that it's still one building. So it's

Matt Amabile: Right?

David Pere: a, it's one house, fourplex, but it's a massive barn dominium that I live in. And then I rent the, I'm like.

Matt Amabile: Dude, that's a genius

David Pere: I'm

Matt Amabile: idea,

David Pere: like, how do

Matt Amabile: man.

David Pere: I make this work so that I can live on like 20 acres and have my own like little, you know, barn.

Matt Amabile: Yeah, your own little world that you have there and like a beautiful place. I think the point of what we're both saying there is that like there's some pretty powerful products out there that people can go create a pretty massive amount of wealth and cash flow just with one property. If you know about these loans and these options and the opportunities to get out there and just whatever your mind can come up with like this barn dominium, triplex, like whatever you can come up with, as long as it can get approved by a lender, and you can build the plans and make it happen, then you can probably make it happen, you know?

David Pere: Yeah, so OK, so you do the FHA loan, right? Now you did a 203 case. That's a little bit more of a task than most, but most people are familiar with the FHA house hack. That in itself, you take the 203 out, is not a foreign concept to most. But most people don't just jump from that into partnerships and scale to

Matt Amabile: Mm.

David Pere: 22 doors in two years. That's a pretty hefty leap, pretty quick.

Matt Amabile: Mm.

David Pere: So I'm curious, you know, you mentioned you moved into partnerships pretty quickly. Like what was the Like how did you move into that mindset? How did you form some of those partnerships? I mean were they were they?

Matt Amabile: Mm.

David Pere: You know, how did how did that kind of mold? How did that look?

Matt Amabile: Yeah, so I think I've always been someone that has listened to other people and seen people that are doing things that I want to do and are in places that are in places that I want to be. And I've just followed their advice and what I was hearing at the time and hearing from bigger pockets, everybody on there is like, if you can partner with someone, it's almost like having a cheat code. If they have capital and they have the information that you need to get a deal done, they have different skills that they could bring to the table as well. then that is like instead of you versus someone, it's like putting both of you together and now you're like one mega team that can go and buy even more. So like if you get a more powerful link on the chain, then you're going to be more powerful with them. So that was kind of my mindset. Let me get together with someone who can get that stuff done. My, another main thing there was like I. already learned and saw that this fourplex can create some awesome cash flow and it actually works and real estate proved itself to me. And I was seeing and analyzing all these deals coming by that were just like this would cash flow this much dollars per month. This would make me get me even closer to that $5,000 a month number that I was looking to get so I could go travel the world. And then, but I wasn't able to buy them because I didn't have all the capital that I needed to get these deals done. And even if I did, I would be using up all my capital on one deal. So what I did is I started finding deals that actually made sense and I started going to lenders and I wasn't going to lenders to get lending on the property. I was going to lenders and asking them if they had... anyone that they knew that would want to buy a property with someone who's a young hustler and educated and boost on the ground and ready to get this deal done, but doesn't have all the capital in his name. And lo and behold, I got connected with someone I basically put a little pitch together on this property that I had. We talked about the partnership, how it would look. And I got this person to actually agree to bring 50% of the capital to the table. I brought the other 50% of the capital. but I got 100% of the cash flow. And that's because I was finding killer deals. This deal was like a $220,000 value at purchase and we were buying it for $160,000. So it's like, there was already equity baked in, they were

David Pere: Yeah.

Matt Amabile: getting in for the equity ownership and for me to buy them out in the future. But that was my first venture into partnerships and I went on with that person to buy 11 units and then we ended up selling. over four properties, we sold two of those properties, and then I bought him out of the partnerships in the other two properties.

David Pere: That's awesome. Yeah, creating a win-win where it's like a no-brainer makes it easy or easier to, you know, pitch the partnership. You know, it's interesting because I've had... I've done a few different partnership structures and ventures, and some of them have gone really well, and some of them have gone... yeah.

Matt Amabile: Mm.

David Pere: Some of my least favorite transactions, and I've had loves and hates and, you

Matt Amabile: Hmm.

David Pere: know, lessons learned and whatever. But it's, if you can find like a true, just win, right?

Matt Amabile: Mm.

David Pere: Where it's like, dude, I don't, I hate that part of the deal or I'm not

Matt Amabile: Yeah.

David Pere: good at that. And the other person eats it up.

Matt Amabile: Mm.

David Pere: Like, man, it, it just creates such an opportunity or it's, or it's like, dude, I've got this killer deal and I don't have the capital, but I got this thing. Like. When.

Matt Amabile: Dude, that's it, man. And I look at real estate, I like to say you got four parts in real estate. You've got time, knowledge, capital, and the deal. And so like time, knowledge, capital, deal, that only means that money, the capital, is only one part of that. So if you're bringing time, knowledge, and the deal, that's 75% of the deal. You're almost more valuable than the capital there. I think a lot of people put money on the pedestal. So what I try to do now is find, what I call like a golden key partner, they can unlock any door basically golden key. So time, knowledge, capital and a deal, they bring another part of that. So they'll bring capital and they'll bring knowledge, they'll bring an ability. I don't like talking to lenders. So my first partner was actually he was a lender, he was a mortgage broker. So he could take care of all the financing. I've worked with other mortgage brokers, I've worked with property managers, guys that can manage the property so I don't have to do any of that type of work. You know, it is finding someone that can take over the parts of the deal that you really don't like to do. So then you can focus on what you're good at. And like if finding deals is what you're good at, then focus on finding deals and use partners that can take care of everything else or a good amount of everything else.

David Pere: Yeah, I would agree with you wholeheartedly on the capital piece. People place a ton of weight on it because, and I think part of it's just the way we grow up, right? Money is this thing that, you know, oh, it doesn't grow on trees and all

Matt Amabile: Mm.

David Pere: these cliches, right? But what you realize very quickly is that if you have a good deal and you

Matt Amabile: Hmm

David Pere: talk about what you do, raising money, I mean, capital itself is just so easy to get your hands on. if

Matt Amabile: Mm-hmm.

David Pere: you've got the right things, like probably the best example of this ever is a buddy of mine needed bridge debt for 60 days to close a hotel. They

Matt Amabile: Mm-hmm.

David Pere: had the deal was going to close like in four days or six days or something crazy. And they needed a bridge $675,000 for 60 days. And the refi was already cleared and all this stuff. It was just like there was a paperwork thing

Matt Amabile: Right.

David Pere: and it was like whatever. I was like, dude, I'll send an email. We'll see what happens. I'll see if I can help you out. Good friend, like I

Matt Amabile: Mm.

David Pere: trust this guy with my life. Shot an email out. Within two hours, I had a text that said, give me the guy's phone number, I got it. And then by the end of the day, I had four emails. And one of those was someone who had been forwarded the email who I'd never talked to, who had replied and said he was in. And so within 24 hours, I had... four or five people who said yes. And within two and a half days, it was funded.

Matt Amabile: Yeah.

David Pere: And it was like, oh, well, that's cool.

Matt Amabile: Right.

David Pere: Like, I'm looking at my buddy and he's like, he's like, dude, you're a stud. And I'm like, I had no idea that I

Matt Amabile: I

David Pere: could.

Matt Amabile: just found out.

David Pere: I was

Matt Amabile: Yeah.

David Pere: like, yeah, apparently, like now I'm worried about, like now I just need to go find some deals, I guess, you know?

Matt Amabile: Right?

David Pere: But it was like, You know, it was mind blowing to me. But like what I've learned is. Yep. Between creative financing and seller financing and assumable loans and, and partners and like whatever. Yeah. The, the money's usually not the thing that holds a deal up. You can find that. And I tell people in my mastermind group all the time in the war room or whatever. It's like, people are like, Oh, you know, I've got this deal that looks killer, but you know, I've only ever done. $800,000 deal and this one's 2 million and I'm like, well, what are the numbers look like? They're like, oh, that looks solid But like why don't want to go under contract if like I've never raised more than 200,000 and this one's gonna

Matt Amabile: Mm.

David Pere: be 600 I'm like dude, if the numbers are as good as you say and your track record shows XYZ

Matt Amabile: Mm.

David Pere: Put it under contract. You'll be able to raise money And if you can't raise the money between

Matt Amabile: Bye.

David Pere: me and a couple of the other guys in the group We'll raise it for you

Matt Amabile: Right.

David Pere: Like we will figure it out like you will get it done And if you have to give up a percentage of that deal to make it happen by helping having other people help you raise it you'll be fine with that because

Matt Amabile: Get

David Pere: you'll have

Matt Amabile: a deal

David Pere: the deal

Matt Amabile: done.

David Pere: done.

Matt Amabile: Yeah, get a percentage of the deal if you could get the deal done. And if money doesn't flow towards the deal, most likely it's not a deal.

David Pere: Bingo.

Matt Amabile: You know?

David Pere: Bingo bango.

Matt Amabile: That's

David Pere: Yeah.

Matt Amabile: it.

David Pere: Okay, so you get your 22, which

Matt Amabile: Mm.

David Pere: is 7,000 a month-ish in passive income,

Matt Amabile: Hmm.

David Pere: and you're like, that's it, I'm out, and you go travel the world. What do you do?

Matt Amabile: Dude, actually, once you get out of the job, especially like, at my age, like I don't really have anybody influencing me or anything influencing me besides like the people I talk to like you every week, like, on my podcast, so I go and start a podcast, right? But like, my point of saying that whole little tangent there is like, my whole world actually crazy amount like right after I left my job, you would think like everything gets easy, but you drop the job and then life just comes at you like this is what life actually is. You are no longer Matt, the supply chain, logistics salesman anymore. And that's not how you identify. You're just Matt. And now you have to figure out what is Matt. Who is Matt? What is Matt actually like to do? What are his hobbies? What is it that you're actually going to spend all of this time for the rest of your life doing? And where are you gonna put that? So I took a little bit of a trip. I took around five months to travel. I went to the West Coast visiting my sister. I went down, I camped in the Redwoods. I went out

David Pere: Mmm.

Matt Amabile: to Puerto Rico for a month. I learned how to surf. went over to Europe. I spent a lot of time in Paris, doing yoga over there, meeting people, going out for lunch, going out for dinner, went over to Barcelona, Spain for a little bit, did some more travel over there. And, you know, that is really a big learning lesson as well, because what you learn when you travel is like, I am inherently the same person when I get on the plane to go fly over to Europe. I'm gonna be this, I'm the same exact person when I get off that plane in Europe, which means nothing changes. I still need to be happy and deal with myself and become myself and figure myself out as I am over there as well. So it's almost like, are you running away from your problems or are you running towards something else in the future? And I think that's a big learning lesson for me has just been. I need to come into myself, figure out fully who I am, what I am and what I'm doing. And with that comes a lot of experimentation, like trying this podcast out that I started doing and I love doing, talking to guys on a weekly basis.

David Pere: basis.

Matt Amabile: And you know,

David Pere: And you

Matt Amabile: I'm

David Pere: know,

Matt Amabile: still

David Pere: I'm still

Matt Amabile: out here

David Pere: out

Matt Amabile: buying

David Pere: here buying.

Matt Amabile: more real estate. So I'm buying a five unit right now. I'm buying a single family, putting deals together. I'm dipping my feet into wholesaling. And like really I'm just open to every single opportunity that comes my way. Um, I'm quick to say no, but there is nothing that I won't look at and just see if it's something that I want to jump into and try out.

David Pere: Yeah, man, I love that. Like just going with it, you know,

Matt Amabile: Go

David Pere: that's,

Matt Amabile: with the flow.

David Pere: it's interesting. Everybody I feel like when they hit that kind of, you know, I think it was Brandon who says like everyone who can retire early won't, but like the whole getting out of like the whole like financial freedom thing, it, it opens the door, like once you solve the money problem, solve. because it just creates different levels

Matt Amabile: Problem.

David Pere: of money problems. There's a whole lot of just different questions you start asking yourself.

Matt Amabile: Mm-hmm.

David Pere: And it becomes like this whole different game. And you're so right about the identity thing. It's like, wait a minute. Like, I'm still like my whole thing. We talked about it on your show is like, how do I learn to have fun again? What does this

Matt Amabile: Mm.

David Pere: whole being alive thing like? I used to have a sports car and motorcycle. But it's a Kadi last month. Like, let me let me go figure out what that was all about. Like.

Matt Amabile: Right?

David Pere: It's a, you know, I went to South America as soon as I got out of the military. Like it's, yeah, it's, but it's like, okay, wait, I'm supposed to be able to take time. Like I always joke with my friends. I've got a couple of friends around town who are, you know, entrepreneurs or financial freedom or whatever. And we always joke cause we're like, I'm like, Hey guys, let's go float a river. And we're like, yeah, in the middle of the week, cause we have to remind ourselves that we can do that. Like everybody

Matt Amabile: Right.

David Pere: clear your schedule. Like, just cancel whatever, like let's

Matt Amabile: Right.

David Pere: take a day off. We have to remember that we can do this. It's like, I forget that I can take a day off or that I can do

Matt Amabile: Dude,

David Pere: whatever.

Matt Amabile: it's so important. Like today, I've, this sounds, I don't know if it sounds bad on a podcast, but I really don't care. Monday, like I woke up at 10.30 and yesterday, well, I was really hungover because I went out on Saturday and apparently once I turned 26, hangovers last two days.

David Pere: Oh yeah.

Matt Amabile: So like.

David Pere: Wait till you're 30.

Matt Amabile: Monday, I'm up at 1030. Yesterday, Tuesday, I'm up at 930. Today, I got up at 930 again, which like, I was getting up at like 7am for a good while. But I think to the point that you were just making, like, let's go out on the river just because we can and just because we have this availability and this option in our life. It's like I don't have things, even if I had things on my schedule, I really do respect the time of other people. I knew in my head that I didn't have anything on my schedule. I was pretty sure. But even if I did, I probably would have been a little bit okay with myself of just like, I apologize. I missed your meeting. You know, it's not like there's anything that I have to do. It's like this life is whatever you want to create. And Like once you have the option to create it, then what do you actually wanna do with your life?

David Pere: Absolutely. It's funny. I'm going to call him out on this. He's going to get it on the podcast Brian He canceled on me on Day that we were supposed to record a podcast. There's just a simple like a sorry something came up type you know, whatever and then we recorded and At some point when we were talking I don't remember if it was when we were recording before we recorded or it was just a random phone call or text or something we were chatting and he was like Basically, something to the extent of like, one of my guilty pleasures now is like remembering that I can cancel things. And so he's like, I'll just, you know, every now and then I'll just, if I've got something, I'm just like, and I was laughing because I don't think he had remembered that he had canceled.

Matt Amabile: They canceled your podcast.

David Pere: And I was like, I was like, well, at least, at least I know, you know, but, but it was as funny as that interaction was. I think about that all the time now, because I am like a 99 I on the Just Profile, so I always felt so terrible about

Matt Amabile: Mmm.

David Pere: like, oh my God, I gotta be there. And now I'm like, dude, no, like I'm gonna reschedule this or I'm gonna cancel this. Like there is nothing wrong at all with being like, hey, I got whatever, like, sorry, you know,

Matt Amabile: Right.

David Pere: like

Matt Amabile: That's actually crazy

David Pere: it's very

Matt Amabile: that you're

David Pere: free.

Matt Amabile: a 99i because I'm actually exactly a 99i as well.

David Pere: It is there are so many So many wonderful terrible things that come

Matt Amabile: Yeah,

David Pere: with that

Matt Amabile: yeah, right.

David Pere: oh my gosh

Matt Amabile: A lot of care, but also I think a lot of like, it's not a big deal, guys. Like this is just life. We're all kind of doing this thing. We're all taking this one step at a time, seeing where it takes us. Everybody makes mistakes. There's problems. How do we just go off of this moment? What is the next best action and how do we deal with that? We don't take a lot of things to like... like hit us, you know, and

David Pere: Yeah.

Matt Amabile: it's nice, but yeah, man.

David Pere: Yeah, there's a lot of ups and downs. I definitely take wanting people to like,

Matt Amabile: Mm.

David Pere: there's that side which

Matt Amabile: Mm.

David Pere: does have its effects sometimes. I'm like, oh man, people are like, oh, don't worry about it, it's just trolls. I'm like, yeah, that's what I'm trying to tell myself

Matt Amabile: Yeah,

David Pere: while

Matt Amabile: exactly.

David Pere: I'm over here, I'm gonna get you, I'm gonna

Matt Amabile: Yeah.

David Pere: win, I'm gonna win in this comment section. What are my buddies?

Matt Amabile: All the people you've never met in your life that are just sitting

David Pere: Yeah.

Matt Amabile: at home and like saying mean stuff.

David Pere: John Lalonde used to be like, dude, why are you even entertaining that

Matt Amabile: entertaining.

David Pere: guy? I'm like, because this is how I'm getting it out of my system. Cause he doesn't care. And I get to just go to town. Like, cause otherwise I'm going to take it out on someone else.

Matt Amabile: Right, right,

David Pere: But

Matt Amabile: yeah man.

David Pere: anyway, so that's funny. Yeah. I'm like a 99 I and like a 60 or 70 D and then like pretty middle ground on the other two, whatever. But I

Matt Amabile: All

David Pere: don't

Matt Amabile: right.

David Pere: know what that, I think influencer or networkers, the profile. one of those two,

Matt Amabile: Yeah.

David Pere: but yeah, anyway. So what's, okay, so we've got the podcast where you

Matt Amabile: Right.

David Pere: talk all the time about awesomeness with people like me

Matt Amabile: Right.

David Pere: and, you know, other studs, more studs. And then mentorship, more

Matt Amabile: Mm-hmm.

David Pere: real

Matt Amabile: Mm.

David Pere: estate. What else is, what else you got going on? Tell us what Matt is working on now. What's

Matt Amabile: Yeah.

David Pere: the things?

Matt Amabile: So while you mentioned, you mentioned mentorship, I did just launch that, uh, an online course and it is actually all about the beginning of basically like if you have one to three properties, there's a pretty easy way to use that experience to be able to leverage that experience, to find a partner so that you can. do what I did and almost use that cheat code to get more properties by working with a partner who's already done it. And I don't think a lot of people use their one to three properties that they currently own 100% them as like I am experienced, but you can use that as experience to get new properties, new partners to get property. So I have used that, the platform that I'm building. that knowledge and expertise that I have in finding partners and the different partners I've worked with to create a course that basically helps course and mentorship. It's a six-month mentorship that I'm doing right now. basically mentoring people on how do we leverage this experience that we have to go and find new partners? How do we underwrite new partners? How do we bring deals to partners, pitch them on a deal and get them into new properties? So that has been a big focus that I'm doing right now. It's called my scaling with partners mentorship. And then outside of that, man, actually one big thing that I'm looking at doing right now is buying a travel van. So I can just go take a trip like a three month trip. I wanna go out to Colorado, Utah, Montana, Arizona. I wanna see all the cool things out there, man. Zion National Park, I wanna go to Moab. Looking for like a Sprinter van-ish type model with a bathroom and a shower and the bed and the kitchen and all that inside of it. But I'm looking below around $40,000 or under which is a little bit harder to find. So

David Pere: You had to go

Matt Amabile: I'm

David Pere: schooly.

Matt Amabile: dude, I'm I do the schoolies are awesome, man. The miles per gallon on them are like three though.

David Pere: Yeah, there's someone selling one right now out here. It's almost finished. It's at

Matt Amabile: Mmm.

David Pere: the, the LVPs in, the stack washer dryers in,

Matt Amabile: Mmm.

David Pere: all the plumbing's done, the shower's in, the bathroom's in. You just gotta finish out the drywall and the

Matt Amabile: Right.

David Pere: walls for the bedroom and the

Matt Amabile: Right.

David Pere: cabinetry and the kitchen. And he wants 20, but the mileage

Matt Amabile: Mmm.

David Pere: is good and it's the 466 diesel. And he wants, he wants 20 grand. And I'm like, oh man, I have been kicking myself going back and forth about buying a schoolie to build out for a while. But then where I keep looking at is I'm like, dude, if I'm going to buy a bus. I, they, you can find, they're not as common, but you can find the double deckers. And I'm like, if I'm going to go

Matt Amabile: Oh

David Pere: the bus

Matt Amabile: man.

David Pere: route, I'm going to go the bus route. Like if I'm going to get three miles a gallon, I'm going to go the two and a half mile a gallon

Matt Amabile: Yeah

David Pere: route and show up in a double decker Greyhound and be like, that's my house. You know, but I love, I love the sprinter van or the like camper shell thing.

Matt Amabile: Alright.

David Pere: I, I road trip. It's like a running joke with people. Like if I buy a plane ticket to show up at an event, people are like, you okay? Like why you didn't drive like Almost all my friends like it's like I drove to Tahoe from

Matt Amabile: Wow.

David Pere: Missouri. I have so far this year. I've driven to Tahoe Austin twice Dallas twice

Matt Amabile: What do you drive?

David Pere: Tampa I'm gonna drive to Acadia later this year and then Orlando I have a This is actually my third of this. I've now had the sedan the Golf and now I have the sport wagon This is the

Matt Amabile: Right.

David Pere: I drive a 2013 Jetta TDI, the diesel.

Matt Amabile: Yeah, yeah,

David Pere: Fucking love it.

Matt Amabile: dude,

David Pere: I get 37 miles a gallon.

Matt Amabile: you would make love with one of these buses if you bought one of these, dude. You would be like, oh, you probably wouldn't even end up back home, man. That's why I want to

David Pere: thinking

Matt Amabile: get

David Pere: about

Matt Amabile: one

David Pere: it.

Matt Amabile: with the Wi-Fi built in, the satellite Wi-Fi, and

David Pere: Mmm.

Matt Amabile: I could just do my podcast from the bus and I could be doing my podcast wherever I want to do it from.

David Pere: Yep.

Matt Amabile: You know?

David Pere: Yeah. You just cruise around, do your thing. I love it. Well,

Matt Amabile: That's

David Pere: if I, if

Matt Amabile: the

David Pere: I,

Matt Amabile: life.

David Pere: if I get one, I'll join you. I'll just show up in Colorado. Okay. What's

Matt Amabile: Dude,

David Pere: up, dude.

Matt Amabile: let's do it, man. Let's do it, bro. Schedule a trip.

David Pere: I do love travel. And

Matt Amabile: Love

David Pere: I mean,

Matt Amabile: it.

David Pere: that's not enough. That's not an expensive way to travel either.

Matt Amabile: No, no,

David Pere: Like...

Matt Amabile: it's not a wall. I have two and a half miles per gallon is slightly expensive, but, uh, yeah,

David Pere: until you get there.

Matt Amabile: until you get there, yeah. Then you'll, then you enjoy yourself. And you can camp up at any of those spots for however long you want. Realistically.

David Pere: And I mean, we say two and a half. I think the buses actually get closer to like 12.

Matt Amabile: Probably, yeah, probably 10, 10

David Pere: Yeah,

Matt Amabile: to 12.

David Pere: it's not it's not too terrible. The trucks that I drove in the Marine Corps get three and a half and they weigh they weigh 40,000 pounds and they're six wheel drive and they're not nearly as cool as the buses. So I think

Matt Amabile: Right.

David Pere: the buses are closer to like 12. So yeah, it could be worse.

Matt Amabile: Ha!

David Pere: Anyway, that's a whole that's cool, though. That's exciting. That's super exciting.

Matt Amabile: Yeah, man.

David Pere: I

Matt Amabile: Yeah,

David Pere: love

Matt Amabile: so

David Pere: it.

Matt Amabile: I'm looking on the daily for those I do a lot of shopping on Facebook marketplace looking for looking for my it always recommends me every single day like a new one that I see and I'm always messaging guys like guys have them up for like 80 grand and just because of the wheeler and dealer that I am like somebody will have it up for like 80 grand. I'll be like, Oh, would you take 30 for it? I could

David Pere: Uh

Matt Amabile: bring

David Pere: huh.

Matt Amabile: cat I could bring cash today, bro. But Who knows?

David Pere: I'll

Matt Amabile: You

David Pere: sell

Matt Amabile: never

David Pere: or

Matt Amabile: know

David Pere: finance

Matt Amabile: until you try.

David Pere: it.

Matt Amabile: Yeah, right.

David Pere: Yeah. So finance it for 500 a month for 36

Matt Amabile: 30

David Pere: months.

Matt Amabile: years.

David Pere: Yeah. Oh my gosh. That's awesome.

Matt Amabile: Ugh.

David Pere: All right. So. What have we not covered that we should have?

Matt Amabile: Man, I think it's been a great conversation. We've covered a lot. I mean, I think if I was to hit on anything else, it would be some of the problems and issues that I've come in on, and it has been not fully underwriting the people that I'm working with. So whether that be a

David Pere: Tell

Matt Amabile: partner,

David Pere: me more.

Matt Amabile: whether that be a partner or whether that be a contractor, On the partner side, we want to have a dating period with our partner, we want to get to know the partner, we want to make sure that if they say they have capital, ask them to see their bank accounts. I've had a lot of guys who have come to me who say they have money and we go I find a deal that makes sense to buy. And they get scared when realistically when you told me you had X amount of capital, this is nothing compared to that. So it shouldn't scare you at all. And I should have checked the bank accounts before because they were really lying and pushing that for me. So with your partners, you wanna make sure you see their experience, you know what their portfolio looks like, what have they done in those assets? Basically, like underwriting the person that you're working with. You want a dating period, you wanna make sure that you line up ethically, morally, you're going to get along with them. If you hung out with them for a weekend, you would be able to not... hate yourself while you're with them. And then on the contractor side, like, this was where I made my big mistake on my first renovation, it took a year and a half to get this thing complete and able to bring tenants in because I didn't underwrite my contractors, I wasn't

David Pere: Hmm

Matt Amabile: staying on top of them, I wasn't in the units with them, making sure that everything was getting done that they were saying was getting done, making sure that they were on the job and Most of the time they weren't on the job even when they said they were. Like they made themselves look and sound like they were getting stuff done, but they weren't and I was not verifying. So I would just say, make sure we're underwriting our partners, our contractors, anybody that we're going to do business with, underwrite them as best as you can before you make the decision and fully commit to working with them.

David Pere: Yeah, that's solid. I think that's huge. And I've definitely had my share of contractors that I'm like, oh, yeah. You were great the first week or two.

Matt Amabile: Yeah,

David Pere: Cool.

Matt Amabile: when you showed up.

David Pere: Yeah. Yeah, you were awesome at first. Yeah. Well, it was cool when you told me that you apparently had $10,000 worth of materials stolen off the job site and you expect me to buy it again, but you can't produce receipts. That

Matt Amabile: Right.

David Pere: was really fun.

Matt Amabile: Yeah.

David Pere: Yeah. Thanks. Thanks,

Matt Amabile: Yeah,

David Pere: buddy.

Matt Amabile: that's no good. That happened to you.

David Pere: Yeah, yeah, I didn't. I didn't replace it

Matt Amabile: Right.

David Pere: or continue working with him. So yeah, but whatever had some fun stuff. Yeah. I also love the fact or the whole like, oh yeah, we'll be done this week. You know,

Matt Amabile: Yeah,

David Pere: that's.

Matt Amabile: every and you've been saying that every week for the past four months dude. And there hasn't been any movement on the entire job. And I think that that's another thing too is like, if somebody tells you something's gonna get done, it doesn't get done the first time, maybe I have a little bit of leniency. But then the second time when it when it doesn't get done, that might be a fire time. And if it's not a fire time, three strikes, they need to be out. If

David Pere: Yeah.

Matt Amabile: the third time they tell you something's going to get done, it's not done. It's time for you to drop them, stop putting hope in them, and then just get somebody else on board that'll get it done. Cut your losses short and because you're bound to lose it. If they lie to you once, they're going to lie to you again.

David Pere: I agree. Yeah. Or they just, even if they're not lying, they're just not, not getting done what they should be getting done. They're not as good as I think, you know,

Matt Amabile: They're

David Pere: and

Matt Amabile: not good

David Pere: I'd

Matt Amabile: workers.

David Pere: rather you just tell me it's going to take four months and then it takes four months. Then you tell me what you think I want to hear,

Matt Amabile: Right.

David Pere: especially because if I'm telling a private lender, what you tell me, even if I buffer 20% onto that, now I'm playing the like, yeah, man, I really did think it was going to be done, you know, in two months. and he told me one and a half, I told you two, now we're at three, I don't know.

Matt Amabile: Right.

David Pere: Yeah, so.

Matt Amabile: Yeah. And that's another reason that you got to really underrate, like the people that you're working with, because what they tell you in their area of expertise is going to be what you relay to other people. And when I'm someone who keeps my word, and I have my word, I'm a man of character. And what I say always happens. This is what gets done, what I say, when I relay your word through my mouth to someone else. And I put them out there as my word, and then you mess my word up, that's when we really have a problem, you know? Like I don't, and that's why now when, if I have a broker, my real estate broker that I'm doing a deal with, and then my partners that I buy with, like if they say, like they've got the capital, get it done, they'll have the LOI in by the end of the day, right? I will tell my broker, My partner says that they will have the LOI in by the end of the day. I am not the one that is saying that because sometimes

David Pere: Yep.

Matt Amabile: they don't deliver on that side and I need to make sure that when my word is out there, it's the truth and that's something that's going to get done.

David Pere: Yeah, no, I agree with that wholeheartedly. Yeah, I actually had an, uh, in probably the last week of February or early March, I had to essentially, I replaced a private lender with another private lender

Matt Amabile: Mm.

David Pere: on a project because it became clear that we were not going to finish when I told him we were and he had lined up a property that he was going to buy. I needed the capital

Matt Amabile: Mm.

David Pere: and I was like, well, yeah, I told you we were going to be done. So I, you know, uh, Interestingly enough, my parents had just come into an inheritance, and so I was like,

Matt Amabile: Perfect.

David Pere: hey. So, I gave them what I would consider a much better return than I've probably given most.

Matt Amabile: Right.

David Pere: I mean, you know, unfortunately, we've also gone past that timeline,

Matt Amabile: Mm.

David Pere: but they're still going to, you know, it's still going to be worth their time.

Matt Amabile: Right.

David Pere: But it's been, yeah, frustrating. But anyway, yeah, great, great point. Two last questions. The first being, where can people get ahold of you?

Matt Amabile: You can find me on any podcast platform at Financial Freedom Fest podcast. And then you could find me on Instagram, Facebook at Matt Amabile. A M A T A M A B I L E.

David Pere: And then I got a really big one for you.

Matt Amabile: Yeah.

David Pere: Deep thought, deep thought. Favorite yoga position.

Matt Amabile: Oh, that is dude. But it's pigeon pose, man.

David Pere: Hehehehe

Matt Amabile: Pigeon pose. So if you know what pigeon pose is,

David Pere: I don't know

Matt Amabile: or no.

David Pere: much about, I don't know shit about yoga.

Matt Amabile: Yeah, it

David Pere: Do I

Matt Amabile: dude.

David Pere: look like a yoga guy?

Matt Amabile: Well,

David Pere: I mean, I've done a little bit actually.

Matt Amabile: dude, when we see each other, we'll have to do a little bit of

David Pere: I'm

Matt Amabile: it.

David Pere: done.

Matt Amabile: But all right, so wait, and I'm just going to throw this out there. You could cut this if you wanted to. But I I'm a single dude. And like, I like fit. athletic and down to earth women. So where can I go to find fit athletic down to earth women, dude, I

David Pere: There

Matt Amabile: could

David Pere: you go.

Matt Amabile: I could go to yoga. But anyway, this pose like

David Pere: Yeah

Matt Amabile: really flex it opens up the hips and like, dude, my hips always used to give me so many problems. And now it's like, so flexible, man, I do this pose every single day. It's just

David Pere: There

Matt Amabile: a stretch

David Pere: we go.

Matt Amabile: basically. But I

David Pere: I'll

Matt Amabile: love

David Pere: give

Matt Amabile: that

David Pere: myself

Matt Amabile: question,

David Pere: some

Matt Amabile: bro. Thank

David Pere: pigeon

Matt Amabile: you.

David Pere: pose.

Matt Amabile: Ha ha ha!

David Pere: I joke, but I've actually done a decent amount of yoga because I used to do a lot of endurance sports, anything from Ragnar relays to I've done two half ironmans and

Matt Amabile: Right.

David Pere: whatever, and right, and in the attempt to avoid further knee injuries,

Matt Amabile: Mmm.

David Pere: yoga and the book, Supple Leopard was... Oh my goodness. What just?

Matt Amabile: Dude, did he get cut? Dude, did you just get dropped from your own podcast?

David Pere: Dude, the last second? Are you kidding me?

Matt Amabile: Bro, I think you got dropped from your own podcast, man.

David Pere: What the hell, man? Like the last second!

Matt Amabile: What is it a one hour time limit?

David Pere: No, it said the internet cut out. Oh,

Matt Amabile: Oh.

David Pere: whatever. So in the attempt to avoid further knee injuries, right? Yoga and the book supple leopard was a lot of stretching and crap because I'm not built for endurance sports. I'm

Matt Amabile: Right.

David Pere: 5'8", 225 and I'm built like a power lifter. So, you know, running a half Ironman's is, there's a reason I've had knee surgery. So,

Matt Amabile: Right?

David Pere: but Matt, good times, man. Appreciate you joining me and hanging out. Always a pleasure. I'll look forward to doing some yoga with you one of these days.

Matt Amabile: Dude, appreciate, appreciate you having me on, brother.

David Pere: Absolutely. Always, always a good time and hope you have a great day.

Matt Amabile: You too, man.

David Pere: get off the recording before this.

Matt Amabile on the Military Millionaire Podcast


Episode – 217

Matt Amabile

Ever dreamt of escaping the 9-5 grind and retiring at the tender age of 25? It might sound like a distant dream, but for our guest on this episode of From Military to Millionaire, it's a living reality. We're talking about Matt Amabile – a young visionary who turned his life around from couch surfing to achieving financial independence within just three years.


From humble beginnings, Matt's story is one of grit, determination, and tireless pursuit of better. Today, he stands as a testament to the transformative power of real estate investing. In this episode, we delve into the ‘how' and ‘why' of Matt's success story.


You'll learn how Matt Amabile stumbled upon the lucrative world of real estate and the pivotal role of

FHA 203(k) loans in his investment journey. He also discusses his strategic foray into partnerships and how they proved to be a game-changer in his rise to the top. And that's not all – the conversation explores a wide array of topics, revealing more about his journey, strategies, and the philosophy that drives him.


But Matt’s journey isn't just about building wealth – it's about crafting a lifestyle that others only dream of. As a travel enthusiast and a mentor, he is living his dream life while also guiding others towards their journey to financial freedom.


In this episode, Dave unravels not just Matt's awe-inspiring journey but also shares actionable insights that you can apply in your own real estate investment journey.


So, are you ready to break free from the mundane and chart a life of your dreams? Matt Amabile's story proves it's never too early or too late to start. Tune in and get ready to be inspired, because the blueprint to your dream life is just a play button away!


What You’ll Learn from Matt Amabile:


  • What sparked Matt's journey into real estate investing?
  • How did leveraging FHA 203(k) loans pivot Matt's trajectory in real estate investing?
  • Why did Matt decide to venture into partnerships, and how have they contributed to his success?
  • How does Matt balance his love for travel with his responsibilities as a mentor and investor?
  • And so much more!


Favorite Quote by Matt Amabile:


“There's no such thing as failure in real estate investing – there are only lessons that shape your journey.”


  • Matt Amabile

How to Connect Matt Amabile:


Want to connect with Matt?


Be sure to click the link below and don't forget to use the COUPON CODE M2M1000!


Catch him on Facebook for real estate insights or Instagram for a glimpse into his travel-filled lifestyle.


Connect professionally on LinkedIn or delve deeper into his investment strategies on his YouTube channel and podcast.


Get ready to be inspired and start your journey towards financial freedom with Matt today!


Links are below:




Real Estate Investing Course:

Finding Off-Market Deals Course:

Recommended books and tools:





My name is David Pere, I am an active-duty Marine, and have realized that service members and the working class use the phrase “I don't get paid enough” entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom!

Click here to SUBSCRIBE:  to the channel for more awesome videos!



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