Mike is a highly successful real estate investor, he shares his journey from flipping over 70 houses by the age of 29 to creating multiple multi-million dollar companies in the industry. Mike is known for his creative financing strategies and profitable investments in commercial real estate, apartments, and self-storage. In this podcast, he’ll share his insights and practical tips for achieving success in the real estate world.
Here’s some of the topics we covered:
- Switching From House Hacking to Multifamily Real Estate
- Single Family Skills that Transition To Multifamily
- The Benefits of Direct To Seller Marketing
- Mike’s Experience With Mailers
- The Size of Deals That Make Sense To Take On
- Giving Without The Expectation of Receiving
- Advice For People Who Are Afraid of The First Deal
To Apply for The Warrior Program: Text CRUSH to 72345 and we’ll help you crush it in this business.
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Full Transcript Below
Intro
Hi. My name is Rod Khleif, and I’m the host of “The Lifetime Cashflow Through Real Estate Investing” podcast. And every week, I interview Multifamily Rock Stars and we talk about how they build incredible wealth for themselves and their families through multifamily properties. So hit the “Like” and “Subscribe” buttons to get notified every Monday when a new episode comes out. Let’s get to it.
Rod
Welcome back to Multifamily Rock Stars. As you guys know, this is where we interview people that are just flat-out crushing it in this business. And we show you guys the inside scoop as to how multifamily investors are creating massive success in their businesses and in their lives. And as always, I’ve got my co-host, who’s the director of the Massive Action Team for our Warrior group, Mark Nagy.
Mark
What’s up, Rod? Happy to have another young guy on the podcast today. So this will be a fun one.
Rod
Yeah, he’s a hitter, too. His name’s Mike Mannino, and both him and his dad are in the Warrior program. Gosh, he’s doing a lot of stuff. He’s done 80 flips. He’s wholesaled a bunch of deals. He made $175 grand wholesaling a deal. He helped another Warrior make 225 grand wholesaling on a deal. They’ve got 50 units in multifamily but also involved in self-storage. Just a lot of stuff going on. Mike, welcome to the show, brother.
Mike
Thank you Rod for having me. I’m very excited to be here.
Rod
Awesome. Well, why don’t you take a minute and just talk a little bit about your journey? I mean, you’re killing it. How old are you?
Mike
I just turned 30 this year. Yeah.
Rod
30? Oh, you’re old now. You’re old as dirt.
Mike
Thanks for making me feel good about that.
Rod
Anyway, so why don’t you take a minute and just give us a little bit of your background? You know, why real estate? And just kind of give us an overview.
Mike
Sure. Yeah, I’ll kind of start like where it began. My first house I bought, I was actually 19 years old. This is back in 2012. I’m from Michigan, and I saved up $14,500 from working at McDonald’s, then to bussing tables, and then waiting tables. And I bought a foreclosed house for, I think, $67,000. It was a three bed, two bath and–
Rod
Where?
Mike
Up in Michigan.
Rod
Okay.
Mike
Michigan, yeah, where I’m from. So Michigan got hit really, really hard and it was a foreclosure. So I’m like, hey, you know what? You know, I’m young enough, I can figure this out myself. So I’ll never forget the day I wrote a $7,000 check because I got an FHA loan. It was only 3% down. And that left me with $7,000 and a foreclosed house with blood on the walls. I had to scrape off like the baseboards and just a lot of spunk. But it was really cool because this is before I got into podcasting. I was actually house-hacking before I even knew what that was. I was waiting tables at the time. My mortgage was only $600 and I rented out the other two bedrooms to people I waited tables with for $300 a month each. So, now at 19 years old, going to community college, waiting tables, and my mortgage is now covered for me. And that’s when I knew I was like, all right, there is something to this and I need to pursue this more. Two years later, I actually ended up selling it at 21 years old for $147,000. And I walked away with the closing table with a $60,000 champ, moved back home with Mom and Dad. Within 30 days, I bought another foreclosed house and I was like, all right, this is what I’m doing. So that’s kind of what got me into the real estate.
Rod
That’s it, right from school into real estate. Boom. Wow. Now, I don’t recall– I mean, I love your dad. He’s a great guy. I’ve had dinner with him and your mom. Was he in real estate before as well? I mean, was he kind of the role model for you in that regard? I don’t remember.
Mike
Yeah, good question. So, my father, he had– at that time a construction business. They’re doing very nice houses for other people, like a million-dollar house. They’re doing $100,000 kitchens, all the woodwork. And during that 2008, ’09, and ’10 crash, he bought, I think, three or four rentals and had me go in there for $10 an hour and rehab them. So that’s kind of where I get off the school, right? I’m like painting and doing all the work. But I actually got him into flipping houses when I moved back home with him when I was 21 years old.
Rod
No kidding. Oh, that’s cool. Well, good for you. Good for you. So why the Warrior program? I mean, you were doing really well flipping and wholesaling both. What prompted you to reach out to us?
Mike
Yeah. So this is back– I’ll never forget this, in 2020. I think I’d done about 40 homes by that time, and we had our four-unit apartment building. We paid cash for it’s a small little cheap building. And we’re buying our six units. And I was like, all right, now this is considered commercial. I don’t know what I don’t know. There are going to be bigger zeros. So I wanted to educate myself. Whenever I start something new, like my fix and flip business, I actually hired a mentor for that fix and flip business, and we grew exponentially after we did that. So now I never start a new business without hiring a coach. So when I wanted to get in multifamily, I was like, I need to find the best multifamily coach out there.
Rod
Oh, stop it. Stop it. Stop it. You guys can’t see me if you’re listening in your car, but I’m taking my hands and I’m pushing my hands towards me like I’m stopping, but I’m not saying stop it. I’m saying give me more. But anyway, so how did you find my ecosystem? Was it through the podcast or what?
Mike
Yeah, it was actually through my friend’s podcast.
Rod
Okay.
Mike
I listened to it. You were being interviewed. I listened to that podcast, Rod. I was the only one I’ve ever done this too. I listened to it three times. It went three days. And I was like, wow, just your 2008 story, losing I think 800 homes and learning to avoid all of those costly mistakes. So that was just what attracted me to you and your group.
Rod
Oh, that’s cool. That’s cool.
Mark
So how did you take– and I want to get into kind of the nitty gritty because there are a few ways we can go with this conversation, getting into the wholesales, etc. How did you take your single-family skillset and then transition that over into multifamily?
Mike
Yeah. Great question. So with the single-family, we do a lot of direct-to-seller, so that’s what I use for the multifamily. That’s how I got my four-unit, my six-unit. We have 11, 16, and 17 that are all through direct-to-seller marketing. So I just use that same skillset I use for my single-family and just transitioned it over. And then also in the construction side, we’re not afraid of heavy lifts because we’re used to buying houses with mold and walls are falling over and, you know, hoarder house. So again, we can just go in there. We can look at properties that most investors wouldn’t buy because it needs too much work. And we’re able to accurately estimate renovation costs, go in there, and turn the whole property around.
Rod
Yeah, your dad’s in construction. I mean, hello, you guys have both of these things licked. You’re on the marketing end, he’s on the construction end. So let’s circle back to your direct-to-seller marketing, though. I don’t want to jump past that. So give some examples of what you mean by that. Give us a little more micro description.
Mike
So it’s funny, you give these examples too, and I’m sure most people probably overlook them. But my four-unit came from Craigslist. My six-unit came from Facebook Marketplace, right? Mailers, other wholesalers, really like all those direct-to-marketing channels that you kind of hear about, I wish it was one, and then I would just focus on that. But it’s multiple channels.
Rod
Yeah, I teach all this at my boot camps but it’s great to hear somebody actually validate, you know, some of these things that I teach because you know, they all work, but you have to do them. And so you’ve done all those flips and the multifamily you’ve purchased have all been from your direct-to-seller initiatives. Do you do any cold calling as well or is it all, you know, without the cold calling?
Mike
All without the cold calling. That was one– I’m not passionate about cold calling. So for me to train someone and hire them, I’ve hired three companies and none of them work. So that’s the only one that I don’t utilize.
Rod
Yeah. No, I understand. You really have to either enjoy it or be a glutton for punishment or train somebody to do it. Train somebody to do it. That’s the only way it works.
Mark
Now, give us some of the details. I know we’re talking about this before the podcast. Tell us about, you know, the unit sizes, how much you know, you’ve made on some of those multifamily of wholesale, and then you can lead into you know, helping the other Warrior.
Rod
I already bragged about that. I already stole his thunder, man. He made 175 grand on one. He helped a Warrior make 225 on another. He’s asking you about unit sizes, but you mentioned you bought a 16-unit or 17-unit.
Mike
Yeah, I can talk about those and like how I structured them. Like my 17-unit that we have right now, this is an amazing deal. It’s up in Michigan. This is one that we closed in six days.
Rod
How did you find it? Start there. How did you find it?
Mike
So that one came from direct-to-seller. That one came from a Mailer.
Rod
A Mailer. Wow.
Mike
You know what’s funny, so the gentleman who had the letter said, Mike, when I received this, it was a nice professional letter. And he said I had no interest in calling. But I filed it away in a folder. Six months later, my property manager passes away and he lives far away from the property. He’s in his 80s and he’s like, I don’t want to collect rent on July 1st. So we’re in the middle of June. So I made him that promise. I said, okay, I’m going to buy this before July 1st. But to do that, I’m going to need some seller financing. He’s like, okay. We walk the property. This property needs a lot of work. Again, this is one that would scare most people. I think five of the units of the 17 were occupied and no one was paying.
Rod
Wow.
Mike
Yeah. So this was a heavy-lift. But when you come across those, there’s also a lot of opportunity. We bought the 17-unit for $225,000, 90% seller financing, and 0% interest for four years.
Rod
Sorry. One more time. I got distracted. Repeat that.
Mike
Yeah. Basically, I bought the 17-unit for $25,000 down. I have a note for $200,000 at 0% interest for four years.
Rod
Wow. Good for you, man. That’s freaking awesome. Good for you.
Mark
And how are you getting that? Are you just asking them?
Rod
Hold on. Hold on. Hold on. I got to follow up. I got to follow up. So this guy was 80 years old. Yes?
Mike
Yeah.
Rod
Did you bond with him?
Mike
Yes. Yeah.
Rod
See, guys, whenever you’re dealing with an elderly seller, this is one of the things I teach. Be more focused on the relationship than the asset because when people get old like that, they’re relationship-driven. And you don’t do it to take advantage of them. You do it to cut a great deal. Great deal for them. You know, he wanted cash flow. He didn’t want to deal with the tenants. And it’s a phenomenal deal for you. And so you befriended him. You know, a young guy comes, he wants to help you out. And I’m sure that was a component of it as well. So anyway, please continue.
Mike
Yeah. But again, it’s a heavy-lift project. We’re going to put another $225,000 into the project. And that’s how we negotiated the seller financing. He obviously wanted more down payment, higher interest. And I said, I would love to give you that, but this property needs so much work and money. I have to put that money into the building. Otherwise, I would give it to you. And I’m like, does that make sense? And, you know, yes, that makes sense.
Rod
Yeah. I’ve had that same conversation getting seller financing on my deals. And when I’ve bonded with sellers, sometimes I’ve actually done nothing down. It’s like, hey, I got to put the money into the deal. And it was the truth. And just like in your situation there. Wow, so where are you at– how long ago did you buy it? Where are you at in the process?
Mike
Yeah. So we bought this over the summer. I actually was going to quick flip it to some other investors because it’s outside of Detroit, not inside the city. It’s a lot of studios and one bedroom. So I’m not fond of the property. I actually ended up selling it twice. They fell out of contract twice. So January 1st, we’re like, all right, I’m just going to do this thing. And we’ve rehabbed seven of the units, new kitchens, bath, doors, floors, trims, toilets, all that. And we have another what, about 10 to go. Roofs are getting done as we speak. Siding is getting painted next week. We’ll be done with the whole renovation by the end of the summer and hopefully, do cash-out refi by the end of the year or the beginning of next year.
Rod
Well, I want to tell you, I want to caution you and those you listening, small units have a lot of turnovers. Studios have a lot of turnovers. So, you know, I had a 24-unit, I remember, here in Fort Myers, and it was just a nightmare because the units were small and they were studio and they just turned over all the time. So just be careful with that, Michael. If I were you, I’d unload it when you can, frankly, rather than maybe refi it. But that’s my two cents. I don’t know– if the units are small. If they’re good-sized units, maybe not. But if they’re small, I would absolutely unload it once you’re done with it. That’s, again, unsolicited advice, but that’s what I do.
Mark
That’s one thing I wanted to ask about, right? Because I know you’ve mentioned you do a lot of, you know, smaller to medium-sized deals, we could call it, and maybe it’s just your skillset. Do you have any– and I get asked this all the time you know, should I do smaller deals? Should I go bigger deals? Do you have an interest in doing bigger deals syndications? Do you just like doing these because they fit your guys’ skill set? What’s kind of the strategy or thought process around that?
Mike
Yeah, great question. So, you know, I like the low risk of these deals because we’ll be into this one for $450,000, 17-unit, will be brand new, rough, doors, trim. Do you know what I’m saying? So it’s very low risk. Even with a lot of them being studios, it should be worth about $1.1 million. So if I’m at, you know, 45% of value, my 16-unit was very similar. We paid 900,000 for it. We’re putting about $100,000 into it and it’ll be worth 1.6. We’re going to have another $600,000 in equity about. So that’s what I like about these smaller ones. Again, it’s very similar to these fix and flips. I’m buying at 75% of ARV minus repairs is kind of the way I’m looking at these properties.
Rod
Now, ARV, guys, those of you that have never done single-family is After Repaired Value. Yeah. Okay. Listen, whatever works and it’s obviously working. I mean, I’ve seen you on vacations, I’ve seen you do– you live in large. So whatever you’re doing is working.
Mark
Yeah. And one strength I want to point out as well that I see you doing– not just that wholesale deal, but I see you posting calls that you have, strategy sessions, helping other people. And I know that’s one thing that we talk about so often is just giving without the expectation of receiving. And that’s so much of what our successful students do. What are some of those things that you do to just give help other Warriors– or even just investors in general to help them? What are some of those things that you do?
Mike
Yeah. I can bring up that Brandon story, that $224,000 assignment fee, if you guys want to talk about like how [inaudible]
Rod
Yeah. Please.
Mike
Okay, cool. So thanks to Rod, though, joining his program, backing up a little bit. So that one where I made $175,000 from, it was a self-storage facility. Going through Rod’s training, he talks about population location because that’s the things you can’t change, looking at population trends. A lot of Michigan is actually declining in population. There are only four counties inside of Michigan that are steady. The rest are declining in population. So going through that training and looking at this deal, I realized that the self-storage facility we were looking at was in a small town. The population is going down. So I made the decision of like, you know, we almost backed out of the deal. My two partners were like, hey, let’s just back out. Like, you know what? Give me two weeks. Let me see if I can find a buyer. I’ve done this in a single-family. I’ve never done this in multifamily, but let’s see if we can do this. Within two weeks, we found a buyer who was willing to pay $175,000 more than what we had under contract for. We wholesaled it. I told that story in the Warrior group. Everyone was cheering and Brandon Hicks saw it and he’s like, hey, you know what, Mike? I’m actually looking at this self-storage facility up in the Boston market and I’m looking at maybe syndicating it. I’ve never done a deal before. Can you look at it? So I spent you know, a few hours going through the deal with him, estimating renovation cost because there’s a bold mill building that had three different roofs, an asphalt roof, a shingle roof, or a flat roof, and a slate roof. I’m like, oh, man, that slate roof is going to be expensive. So again, you know, after going through the renovation cost of [inaudible], this is maybe a $300,000 renovation budget. You know, are you prepared for that? You know, do you have the skills for that? So this is a deal that Brandon actually almost walked away from. And I said, you know what? Hey, you have it under contract for a great price. He also went direct-to-seller, negotiated great seller financing terms. And I told him, I think we can sell this for, you know, more than what you have this for. And a few weeks later, we ended up doing the same thing. And he made a $224,000 assignment fee cheque.
Rod
Wow. That’s freaking awesome. And guys, like you said, that’s just how collaborative the Warrior group is. And I remember when you did that, you actually were responding to my post because I was asking the Warriors, how many of you had made over 100,000 wholesaling a deal. And I had a dozen. Shoot, this has been almost two years ago, hasn’t it? It’s been a while. So I said, how many of you made over 100? I had 12 of them say yes, and two, I think, made over a million. So I mean, wholesaling multifamily is– don’t discount it, okay? Yeah. You may not do as much volume, but the numbers are much, much better. And, you know, in our Warrior program, I have a wholesaling course. It’s called the World’s Greatest– well, it’s self-named. I named it. The World’s Greatest Multifamily Wholesaling Course and, you know because I got to name it. But anyway, wholesaling is wholesaling. It’s really not, you know, rocket science. You put a property under contract and you sell the contract, but you have to have a buyer’s list. You have to have– you know, so there are pieces you know that you have to work on. But let me ask you a question, brother. You know we get a lot of people that want to do this business. And my God, I think there’s an incredible opportunity coming. I just interviewed a guy here in my studio. Very sobering interview. I’m just going to tell you, Bruce Frazer, yeah he’s an economist. And man, I’ll tell you, I think we’re headed for some pain, but that said, we’re headed for some incredible opportunity. So back to my question, you know, speak to the people that are listening that know they need to do this. They know they need to take action. You know, they’re on the sidelines. Maybe they’ve done some single-family, maybe they haven’t, but they know they want more for themselves and their family. Speak to those people for me for a minute, Michael.
Mike
Yeah. So if you’re on the sidelines, I would say think about what you want. So I’ll just talk about myself. So when I joined, I knew I wanted to do this. We joined in 2020. And Rod, the cool thing with that is I didn’t know anything about multifamily. I didn’t know how to evaluate it. I didn’t know a lot of the education you have in your program. So I really went from zero to 100. In the last three years, we’ve made over a few million dollars for me and my family, helped retire my dad. I’ve helped another Warrior make a quarter million dollars and leave his job. So because of what you’ve taught and because of, you know, putting what you’ve said into action, just in a few years alone, my life has transformed and other people’s lives have transformed as well.
Rod
Yeah. Well, thanks for that, buddy. I really appreciate that. I really appreciate that a lot. Guys, if you’re listening and you want to apply to the Warrior program, which I highly encourage you to do because even just going on the phone with my team, you’ll leave a better person. But if you want to apply, you text the word “crush” to “72345” so we can help you crush it in this business and we will look you over. We don’t take everybody and you’ll look us over. And if it’s a fit– I mean, my Warriors are somewhere in the 150 to 160,000 unit range right now that we know of. We’re doing a count right now. We’re going back through the Facebook group and tracking all the people that posted they did a deal. And it’s staggering how successful they are. And you see the team element as well, right, Michael? You just see how connected the group is. Would you agree?
Mike
Oh, yeah. We actually– two hours ago, me and a few other Warriors were looking at this big Texas deal where it’s completely vacant, over 100 units, and, you know, estimated renovation cost and it going in on it together. So, yeah, and they’re all Warriors, too.
Rod
Yeah.
Mark
Awesome.
Rod
It’s super.
Mark
And by the way, just real quick, Brandon, who he’s talking about that self-storage deal, we added him on on episode 653. So for the listeners, if you want to go hear a little more detail from Brandon on that wholesale deal, we had him on Episode 653 a little while back. So go listen to that. What are some of those other people that you’re talking about? Tell us about this deal, man, for the future. What are they bringing to the table? Tell us about the story of this deal and, you know, where you want to go here moving forward.
Rod
Well, he may not want to disclose it yet. He got it under contract.
Mark
Not yet. The details–
Rod
Just leave it in [inaudible]
Mark
Why is it exciting? Yes, exactly.
Rod
Alright.
Mike
Very broad.
Mark
Yes.
Rod
Right.
Mike
But the cool thing is, you know, you work with your superpower. Rod talks about that. And, you know, there’s the money raisers, and we’re the construction experts, right? People are leaning on us to give us you know, about how much their thing is going to cost because we’ve gone through at a smaller scale, but we’ve done it to homes, 16 units, 17 units, and we know– I have the data of how much it costs to do complete remodels.
Rod
Yeah. That’s the value you’re bringing to the table.
Mike
Yeah.
Rod
So let me ask you this. How did you get over your fear of doing larger deals, if there were any? I mean, you’d already done some houses, so maybe there really wasn’t as much. I was interviewing this Bruce just a couple of hours ago here like I said here in the studio, and he said he had an old guy tell him once that he asked, you know, I want to get into real estate, what should I do? And the guy told him, just buy something. It doesn’t matter if it’s a big deal, a small deal, or whatever. But by doing it and going through it, you’ll get past a lot of the fear because that takes the mystery out of it. Would you agree with that?
Mike
A 100%.
Rod
Yeah. So was there any fear jumping up to a 16 or 17-unit? Oh, there was. You’re nodding. Okay. Talk about how you got past that.
Mike
It’s funny. Just what you said, my mentor in the flipping business said, your first deal is harder than your next ten. Your next ten is harder than your next 100. And I’ve done close to 100 deals, and now I don’t even see them in person. I just look at photos, right? It’s just repetition. But the first one is the scariest one. Same thing with multifamily. I don’t know what I don’t know. I wasn’t sure how banks evaluated multifamily. I knew how banks evaluated a single-family house. You get comps in an area. When we joined, we were buying the six and getting on a contract in an 11-unit. And that’s why we joined. I was like, listen, I don’t know what I don’t know. And you brought up– because, again, these are direct-to-seller. So there are things like you said, environmental tests. Get an environmental test on all of your properties. And, you know, if a bank didn’t tell us to do that because we’re direct-to-seller, we wouldn’t have known to order that ourselves.
Rod
Right. Let me speak to that for a moment, guys. I tell– you know, if you do a direct-to-seller deal or seller finance deal, rather, any bank will make sure you do a phase one environmental. And here’s why. If there was a formerly a dry cleaner or a gas station or anything that could have chemicals and you buy that property, I don’t care if it’s the day after you close, if the EPA finds something wrong, guess who pays for it? You do. And so you always do a phase one environmental. I don’t know, 1,500 bucks or something. They’re not a lot of money, but that protects you. So that’s what he’s talking about there. So let me ask you this question, brother. I mean, you’re young, you’re still young, and you got a long runway ahead of you. But what’s your definition of success? What’s success going to look like to you?
Mike
That’s a great question. So I joke around and say success is waking up without an alarm clock because that means you have complete control of your calendar. And to me, you know, I’m already successful. I wake up early and I work hard, but I work when I want. I work on projects that I want. And, you know, I’m able to, like you said, you’re alluding to– we’re on vacation. We were gone six weeks of the year. We’re in Aruba and the Keys. And I took my mom to the Keys. She’s never been to the Keys before. And I was like, Mom, you want to go to the Florida Keys? She’s like, sure, I’ve never been. And, you know, being able to do that and give back to my parents without looking at the price tag and just living free in a free country, that’s success to me.
Rod
That’s a beautiful answer. I remember taking my mom and dad on a cruise when they were alive and just how excited they were and how great it felt for me you know, to be able to do that for them. You were talking about what you’d say to somebody sitting on the sidelines. What actions would you recommend that they take to implement some of the stuff that we’ve discussed here? You don’t have to tell them to go to the Warrior program. They already got that memo. I mean, you know, if you’re interested in multifamily and you don’t check it out, then that’s on you, honestly, because you’re crazy not to. But just beyond that, any other actions you could suggest that they do to, you know, forward themselves towards this outcome of living like you live?
Mike
Yeah. The six-unit and the 11-unit, I actually partnered up with someone because I was scared. You know, I’ve done 40 homes at this point, but I was scared. I remember that. So I partnered up with someone who already had units and he was already managing properties and I think he had 40 units himself. So to kind of I guess, de-risk, I gave the majority of the deal on my six-unit just so that we could buy it and I could learn and have that experience. And then I found the 11-unit– and this was awesome. We built a great relationship. I managed the renovations on our six. He actually front-loaded all the money and the renovation cost for the 11. So now I got a piece of the 11-unit just because I found it, again, helped manage the deal, but with no money into it. And that was a great way to learn and get into the deal. So, you know, leveraging other people who already have experience in this industry.
Rod
That’s a great, great suggestion. You know, if you can bring a deal– like in our Warrior group, if you join our Warrior group, the two things I’ll tell you to focus on first are finding deals and or building relationships with potential investors to bring money to a deal. You do one of those two things, you’re in, period. It’s game on. And like you just said, you bring a deal to an operator that has merit, you’re going to get a piece of that deal. And, you know, that’s how you get started. That’s how you build your resume. And then you’ve got a couple and you’re off to the freaking races. You don’t even need anybody anymore. But that’s how everybody does it. So that’s great advice. Any setbacks or any hurdles that you had to jump over? I mean, everybody has them, but does anything come to mind when I ask that? Any seminars, as it were, that– if you’ve got one that will give a lesson to the audience, I’d love that you share it.
Mike
Yeah. So I was thinking about this question. I don’t have any too big you know, seminars. Like I’ve lost some money in a single-family you know for a couple of thousand dollars, something like that. But honestly, really what I do is I try to learn from other people’s seminars, like your seminars. I love that you’re so open about it, where you had 800 houses that you lost. That deterred me from buying a bunch of single-family houses and going to apartments because you were explaining how your apartments are doing fine, but the houses work because you go from 100% occupancy to 0%. So my whole goal is really to, you know, mitigate how many seminars I go through and learn from others.
Rod
Smart, smart, smart. Are there any– well, just this last question. Are there any quotes or anything that drives you, anything that really juices you? Any quotes like that that come to mind or books that you would recommend that really juice you? Does anything come to mind you want to ask that question?
Mike
Yeah. So I’m a huge Jack Canfield fan.
Rod
Me too.
Mike
Book, “The Success Principles”.
Rod
Great book. Great book.
Mike
You can get the audio version. Listen, I can’t read. I’m not that great. So I do the audio version and it’s an amazing book and just talks about entrepreneurs overcoming obstacles. And I just love the mindset and there are parts talking about visualizing what your life will look like in the future. An amazing book.
Rod
You know it’s funny that you say that. I’m pretty sure that was the book that was kind of the impetus for me to start doing my Own Your Power clips. I used to call them driving force clips, but I started calling Own Your Power. And I’m fairly certain it was that book. I was like, man, he’s got all these different categories of you know, motivational content, motivational topics. I’m pretty sure that’s the book that I kind of like you know what? That’s what I thought about. I thought, you know what? I’m going to start talking about each one of these topics on the show. I’m fairly certain that was it. I’m going to go pull it out of my library and see, but I’m pretty sure that was it. It’s like different topics, right?
Mike
Yeah, it’s different topics, different entrepreneurs go on [inaudible]
Rod
Different principles. Yeah, different principles. Yeah, yeah, yeah. Love it.
Mike
That’s it.
Rod
Well, listen, brother, it’s great to see you. Give your mom a hug for me and slap your dad on the back of the head and tell him it’s from me. And I appreciate you being on the show, brother. It’s great to see you.
Mike
Will do. Thank you, Rod. I appreciate it. Thank you for having me.
Mark
Thanks, Mike.
Rod
All right, buddy. Thanks.
Outro
So one other quick thing. We encounter so many people that are, frankly, frustrated. They’re looking in the mirror and they’re frustrated that they haven’t been able to escape the rat race. They haven’t been able to build cash flow to the point where they’re able to have financial and time freedom with their families. And maybe they see other people buying real estate and creating incredible cash flow and they think, well, it’s just scary. You know, buying apartments is intimidating. And I get it. See, that’s why we created our Warrior Mentorship Program. They’re our coaching students and they’ve had extraordinary results. My students, I’ve been teaching about five years and they own upwards of 140,000 units now that we know of, right? And we feel like it’s just getting going. Now, we’re looking to grow this group and really take it to the next level and honestly believe that the greatest transfer of wealth could be upon us right now with this current economic environment. Everything’s going on sale. So we’re looking for people who want to follow a proven framework, really like a blueprint or a map, literally, step by step. And then they’re able to leverage our systems and our incredible network to raise money and equity, to find deals and close those deals and build partnerships, really nationwide. So if you’re interested in finding out more about how you can become more in our incredible network and take advantage of the unbelievable opportunities that are upon us, you can apply to my Warrior Mentorship Program by texting the word “CRUSH” to “72345” or you can go to “MentorWithRod.com” and what we’ll do is we’ll set up a call so you can check us out and we can check you out and see if it’s a fit. Now, again, you can go to “MentorWithRod.com” or text the word “CRUSH” to “72345” to apply, and we will speak soon.
