Hey there Profiteers! I've got a great episode for you today, something we don't hear of too often. What happens when the industry you've chosen as “yours”, the one to be part of your personal profitability, tanks? How do you rebuild? I talk about that and more in this episode with Matt Theriault.
I have some pretty fun news for you as well – I started something brand new over on YouTube! Can't get enough of my melodious voice? 🙂 You can listen to more of me on the Personal Profitability YouTube channel here.
In addition to regular YouTube videos, I also do a “Two Minute Friday” video about personal finance. You'll find quick tips on personal finance (usually 2 minutes long – could be shorter, could be longer!) and you'll definitely learn something cool. Again, you can check out the YouTube channel here!
What We’re Chatting About This Week
Welcome back to episode 105 of the Personal Profitability Podcast! I'm excited for you to hear this week's episode with Matt Theriault. Why is that? Well, not only is Matt a really cool guy, but he also has a very different story from most of our guests.
After leaving the military, Matt entered a different industry: the record industry! He built a great, thriving business and became a label owner as well. But once the recession happened, what happened to the music industry? That's right… downloads!
However, Matt took what happened, rebounded, and learned from the changing landscape of the digital revolution. Matt shares what he learned with us in this episode – you won't want to miss this unique and engaging story!
This Week’s Guest
Matt Theriault is a USMC “Desert Storm” Veteran who enjoyed 15 successful years in the music business as a record producer and label owner. When the digital download killed the record store, he found virtually everything that he had built become obsolete in a matter of months. The demise of his music business was swift and unforgiving to the point that Matt was forced to start life, personally and professionally, from square one at the age of 34. The transition from a 7-figure year to $7 an hour bagging groceries was a humbling one to say the least.
When the most unlikely of mentors, the grocery store manager, shared with Matt the wisdom “Real estate is the final frontier where the average person has a legitimate shot at creating real wealth,” he embraced it, ran with it and has never looked back.
Theriault, now an accomplished real estate investor and mentor has built a cash flowing real estate portfolio of 100+ units over the last 10 years, is enjoying his financial independence, continues to build his portfolio and has discovered a new passion for creating systems and showing others how to replicate his results.
You will find that his approach to real estate investing is conservative, simple, to the point and efficient. Matt credits his success to performing as much, if not more, due diligence on his real estate team as he does the market and properties themselves.