Michelle Shriver is a seasoned corporate executive and serial entrepreneur with a passion for creating generational wealth. Over her three-decade career, she has led casino resorts and ventured into businesses like smoothie cafes, hospitality recruiting, and copywriting. Michelle’s investment journey includes being a passive investor in a startup restaurant chain and a proactive multi-family real estate investor alongside her husband. Their focus is on conservative underwriting and enhancing the lives of apartment residents while providing returns to their investors. Fueling her drive are her love for God and family, with whom she enjoys traveling, especially to beach destinations.
Here’s some of the topics we covered:
- The Transition From Single Family To Multifamily
- The Speed You Gain From Joining The Warrior Group
- The First step You Should Take If You Haven’t Taken Action
- The Downfall Of Analytical People
- Michelle’s Biggest Trial and Errors In Entrepreneurship
- The Current State Of The Market In 2023
- The Inner Workings Of Michelle’s Last Deal
To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com
Full Transcript Below
00:00:00:01 – 00:00:18:20
Rod
Welcome back to multifamily rock star. So you guys know this is where we interview people that are just flat out crushing it in this business. And we show you the inside scoop into 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 our massive action team for our warrior group, Mark Nagy.
00:00:18:22 – 00:00:28:11
Mark
Glad to be here. Good to see a another familiar face here for our guest. About a year ago. I love these like one year anniversary podcast. They’re always good to hear.
00:00:28:13 – 00:00:52:07
Rod
Yeah. Yeah. Especially since she’s kicking butt. So we’ve got Michelle Shriver today and she’s in just under 700 of doors as a general partner and a limited partner. And, you know, she’s still working a W2 job. She works in the casinos where I in my old stomping ground just outside Denver and Blackhawk. And so she had to suffer through my podcast, driving back and forth to work.
00:00:52:07 – 00:01:00:06
Rod
And that’s how we met. I think so. Well, we’re going to have some fun with this. But anyway, welcome to the show, Michelle. Excited to have some fun with you.
00:01:00:08 – 00:01:08:07
Michelle
I am really excited to be here. Thank you so much for having me. And yes, I listen to your podcast every week. It’s part of my drive, so.
00:01:08:09 – 00:01:10:17
Rod
Yeah. I’m so sorry. I’m so sorry.
00:01:10:19 – 00:01:11:11
Michelle
Well.
00:01:11:12 – 00:01:33:04
Rod
Great. Well, yeah, it is kind of a kind of a cool first full circle thing, isn’t it? I hear that regularly from people that have listening and then they’re on it and it’s. Yeah, it’s, it’s I can imagine That’s kind of cool what you joined. You joined the Warrior program in like late last year. Yeah. We had not that October, not even a year yet.
00:01:33:04 – 00:01:48:10
Rod
Wow. Why don’t you take a minute and just tell us a little bit more of your story? You know why? Why real estate when you have it, you know, you’ve got a pretty good you know, not a pretty you’ve had a really good job. High level job. You know, just kind of take us through and bring us current.
00:01:48:12 – 00:02:13:03
Michelle
I have I’ve been in and out of real estate for a number of years. I’ve owned single family. I was the landlord, you know, manage them myself and and that was great. I mean, it was great passive. Well, not really passive. It’s not really passive income, but because you’re taking care of, you know, all the tenants and, you know, doing, you know, doing what you need to do to maintain the home.
00:02:13:03 – 00:02:20:02
Michelle
And but my husband and I had several single family. We ended up selling those a number of years ago.
00:02:20:04 – 00:02:24:01
Rod
And I but well they in Denver where were they?
00:02:24:03 – 00:02:30:14
Michelle
I actually had two in Denver, Westminster and Arvada.
00:02:30:16 – 00:02:51:01
Rod
And that’s where I went to high school. That’s why I asked. I know, guys, just to humor me for a minute, because this is like my old stomping ground. So I may have some questions that have no relevance to training, but just satisfy my own edification here. So to a Westminster in Arvada, we used to we used to go over to Pomona High School in Arvada High School, because, of course, the grass is always greener with the girls at the other high schools, you know.
00:02:51:03 – 00:02:56:04
Rod
Anyway, so I just wanted to reminisce a little bit with the other ones in Denver, too, or somewhere else. What’s that?
00:02:56:05 – 00:02:58:09
Michelle
Yeah, my son went to Ralston Valley, so.
00:02:58:09 – 00:03:03:10
Rod
Oh, no kidding. That’s hilarious. Yeah. All right, well, I’ll leave you alone. Keep going. Keep going. I’m sorry.
00:03:03:12 – 00:03:13:18
Michelle
No, it’s great. It’s great. We also had an Airbnb type property in Miami Beach. Lo. Nice. I kind of regret that now, but.
00:03:13:20 – 00:03:34:16
Rod
That market is insane. I’m going to get a condo there. You know, now that my relationship situation, I just like that energy over there. And I, you know, I a condo that I rented when I was single cost 5000 at the time. It’s 12,000 now. Still a month. It’s like, good God. Yeah. Anyway.
00:03:34:21 – 00:03:35:19
Michelle
Yeah.
00:03:35:20 – 00:03:37:16
Rod
But I know I should have what it could.
00:03:37:19 – 00:03:55:20
Michelle
Yeah, exactly. And, but I started listening to Real Estate podcast, you know, kind of back then. And what’s funny is I don’t know how many years ago is a lot of years ago right? That I started listening to your podcast and I just thought, you know, multifamily, that’s big. I don’t have the experience. I wouldn’t know what I’m doing.
00:03:55:22 – 00:04:07:05
Michelle
And literally last year I said, Why do I keep putting this off? You know? And I think I answered, Crush you two.
00:04:07:07 – 00:04:14:16
Rod
So you didn’t even do it at a bootcamp. You just you just came in and called and that was it. Okay, enough is enough. It’s time to get going. Okay?
00:04:14:18 – 00:04:21:04
Michelle
Yes. And so and so join the Warrior program to learn what I needed to know and shortcut my, you know, my learning.
00:04:21:05 – 00:04:23:11
Rod
It’s been it’s been all downhill since then, right?
00:04:23:13 – 00:04:28:20
Michelle
No, not at all. Not at all. I mean, I am super happy with where I’m at so far.
00:04:28:22 – 00:04:31:07
Rod
Nice. You’ve met some amazing people, right?
00:04:31:09 – 00:04:38:05
Michelle
I have all the deals that I’m in, have all been through the Warrior program, through people that I met in that program.
00:04:38:05 – 00:04:48:21
Mark
But how is that networking and those relationships? How do you think that’s changed your trajectory of success now, even just not even a year in versus if you had tried to just go into everything?
00:04:48:21 – 00:05:14:15
Michelle
I, I, I would probably still be trying to learn reading. You know, it’s it’s everything. The people that are in the program are so generous with their information and their support and their encouragement. And then, you know, I mean, obviously all the information that we receive from Rod is it’s it is completely enabled me to believe that I can do it.
00:05:14:15 – 00:05:19:00
Michelle
And actually I have done it just by following, you know, what you teach.
00:05:19:00 – 00:05:25:12
Rod
So how active is your husband in it? Is this more you or is it is it it’s mostly me. He’s Yeah, that’s what I thought.
00:05:25:15 – 00:05:28:09
Michelle
Okay. Very much behind the scenes he does.
00:05:28:13 – 00:05:29:02
Rod
Support.
00:05:29:07 – 00:05:31:05
Michelle
Outside and but yeah, got.
00:05:31:05 – 00:05:51:08
Rod
It, got it, got it. So here’s a question for you, Michelle. You know, I know you’ve only been in the program a year, but you know that a lot of people listening to the shore like you were before you decided to text the word crush and find it, you know, and apply to the program. What suggestions would you have for someone that hasn’t taken action yet that knows they need to do something?
00:05:51:08 – 00:06:02:04
Rod
They know they need to create, you know, passive income for their for their families, for their kids or legacy and all that. What would you what would you tell them? Help them maybe help them along?
00:06:02:05 – 00:06:20:20
Michelle
I mean, the number one thing that has supported me is, is your program is listening to your podcast, meeting the people that you surround yourself with. You open that up to the public, you know, with your boot camp. So there’s so many people that you can meet there. I think it’s really about meeting the people. I mean, there might be local meet ups.
00:06:20:22 – 00:06:42:22
Michelle
I’ve done a couple of those in, you know, my local community, you know, finding other people that are investing in real estate. But really, it’s been through the people that I’ve met that are already doing it, that show you. It’s not it’s not rocket science. You know, this is something that you can do. And it’s just taking those steps.
00:06:42:22 – 00:06:55:04
Michelle
You know, one could have the one put up or the other. And so just take action is is my best advice. Don’t keep sitting on the sidelines listening. You need to you need to put it in the place.
00:06:55:04 – 00:07:12:20
Mark
Well, Michelle, I know we were chatting about this right before, which is you kind of had a a little bit of a shift there in terms of what you thought you might be doing. And that has changed for those people listening that have no experience with multifamily, which is most of the listeners, and they aren’t sure, Hey, how can I add value to a team?
00:07:12:20 – 00:07:19:00
Mark
What can I do? Where would you advise they start and what was that shift for you and what have you done?
00:07:19:02 – 00:07:39:23
Michelle
Well, don’t underestimate the power of your network, the people that you already know and the people that they know. I said from the very beginning, I will do anything but capital raise. And I love capital raising because it’s just talking about people talking to people about my experience and, you know, somebody that I know or even somebody that my husband knows.
00:07:39:23 – 00:08:03:12
Michelle
My very first investor was someone that he played softball with. And and so it’s just don’t underestimate the people that you know, and their desire to build, you know, passive income and generally generational wealth for their family. It’s it’s really the people that that’s where I would start. And then I mean there might be things that you’re great at.
00:08:03:12 – 00:08:22:15
Michelle
You know, I’m very analytical. I’m in the business world. I look at panels all day. I can absolutely read, you know, underwriting. But that’s I don’t have time because I’m a busy executive. And so I, you know, so I so I think that you have to find what works for you and what works for the life that you lead.
00:08:22:15 – 00:08:23:06
Michelle
And want to lead.
00:08:23:12 – 00:08:31:10
Rod
Have you, like, settled into being the capital raiser instead of the underwriting piece? Is that what I’m hearing and whatever teams you’re with?
00:08:31:12 – 00:08:35:21
Michelle
Yes, right. And I told my coach originally that was not what I was going. Oh.
00:08:35:23 – 00:08:36:19
Rod
Right, right, right.
00:08:36:21 – 00:08:48:01
Michelle
I realize I can do it from anywhere I can. You know, it’s just talking to people and it’s just sharing my experience and what I’m doing and and they’re naturally interested, so.
00:08:48:01 – 00:09:08:04
Rod
Yeah, yeah, yeah. No, I got it now. And, you know, it’s funny. You want to make God laugh, you tell him your plans, right? But, you know, it’s, it’s and that’s the thing that’s the beautiful thing about this business is, is you can settle in to different roles. You can settle into something and you want to settle into something you enjoy and something you’re good at, something you’re strong at, because then you would never work another day in your life.
00:09:08:04 – 00:09:28:20
Rod
If you’re if you’re playing your strengths and what you enjoy, you know, work is play. And and if you’re doing what you enjoy, you’re going to be passionate about it. And passion is required to influence people. So, you know, it’s just that’s a that’s a match made in heaven. So let me ask you this. In what you’re doing so far in the multifamily game, Well, let me ask it a different way.
00:09:28:20 – 00:09:38:10
Rod
Have there been any, like epiphanies on this real estate journey in general? I could go back to single family moving forward any any aha moments, any there’s like, okay, now I get it moments.
00:09:38:10 – 00:10:17:19
Michelle
I think it was, you know, starting with what I wanted my life to look like in the future. My entire career, I I’m really driven. I really want to succeed. But I never looked at what do I want my life to really look like? How do I want to be spending my time? And so I think with multifamily, what that has shown me is there really is passive income out there that’s available, that’s very lucrative and and so now that I’m older, I, you know, I’m looking at what do I really want my life to be like?
00:10:17:19 – 00:10:33:22
Michelle
And I’m I’m I don’t think I’ll ever slow down. I don’t that’s just not in my nature. But but I but the amount of time freedom that I want to have, the amount of personal freedom I want to have, it’s not just all about financial freedom anymore for me.
00:10:34:00 – 00:10:45:04
Rod
Well, I was just going to ask that. That was my next question is where does that drive come from? Your busy executive? You you’re kicking butt in the multifamily space. What’s the why what’s what’s what’s driving all this.
00:10:45:06 – 00:11:08:23
Michelle
A in with always driven me I think is one is just this inherent drive. When I was ten years old, I started a newsletter and a gymnastics school in my front yard and said, Wow, invited all my neighbors to do it. But, you know, it’s that’s that’s just part of me, but really is my family. I have three grandkids now and they all of my life.
00:11:08:23 – 00:11:23:06
Michelle
And, you know, when they invite me to come to, you know, a tournament or a performance, I want to be able to do that. And as an executive that works on a 24 seven business, that it can be tough.
00:11:23:09 – 00:11:25:14
Rod
No, that’s that’s very valid. Okay.
00:11:25:16 – 00:11:37:15
Mark
I know you mentioned you were listening to the podcast one day and you just said enough is enough and decided you’d made that change. Was was that were those goals was that part of what just made you flip the switch and say, Hey, I want to do this?
00:11:37:15 – 00:12:00:16
Michelle
I think that’s right. I think as you know, I was I was probably having a tough day and and it was just I lived, you know, kind of this this roller coaster life I’ve had. I’ve been incredibly blessed. We’ve done a lot of really amazing things. We’ve traveled, we bought, you know, real estate. We’ve we’ve bought vacation homes as well.
00:12:00:18 – 00:12:17:06
Michelle
I mean, we’ve done some really terrific things, but it’s I want that the fuel for that to change a little bit. So I did yeah I just made the decision then went for it.
00:12:17:08 – 00:12:37:14
Rod
Good for you. Good for you. And a lot of people especially, that’s difficult for analytical people. You know, most analytical people, they got to check off every single box before they make a move. And those are you listening. They’re analytical. I love you. You know who you are. And you know it’s true. And I’m going to tell you, you know, in this in this game and it took you several years of suffering through my podcast before you made that call.
00:12:37:14 – 00:12:55:20
Rod
Yes. Right. So, you know, you analytical ones, I mean, and and you’re usually some of the most successful people in the business and and but there’s an analogy, and if you’ve heard me say it before, I apologize. But just remember, you can drive all the way across the United States at night. Your headlight only seen 60 feet in front of you.
00:12:55:20 – 00:13:08:23
Rod
And you know, you make it. You may have obstacles, you know, but, you know, other people have done it before you. And it’s the same way in this business. But you got it. You got to take that first step. You got to make that move and make it happen. And trust me, it’s freaking worth it when I tell you deals are coming.
00:13:08:23 – 00:13:25:09
Rod
We’re coming out of the frickin woodwork right now. And and there are a lot of operators that that got into this bad debt. We put put an offer in on something and we should hear back today in a way, on something that, you know, they have three months before their loan resets and they are freaking out and it’s a screaming deal.
00:13:25:09 – 00:13:41:23
Rod
And so and by the way, if you’re accredited, text the word partner, 272, three, four, five, because we’ve got we’ve got deals coming and there’s they’re good deals. So I’m actually going to set up an opportunity fund that’ll be done here in the next few days. Actually, we’re real close, but you know, just to be able to capitalize on those deals.
00:13:41:23 – 00:13:59:21
Mark
So I want to interrupt you real quick. I got two deals this week that actually had price drops from broker relationships, which I hadn’t seen price drops in the past 12 months. It’s one of these deals. It was crazy. The broker is telling me about it. It had already gotten under contract, so it was gone and it wasn’t for us anyways.
00:13:59:21 – 00:14:19:11
Mark
But he was telling us they actually started marketing this deal a year ago at about 5.5 million and they’ve been chasing the market down the past year and now it’s gone under contract for a little bit over 3 million because it wasn’t able to sell and insurance and all these things are going crazy. And so that’s just one deal of all of the other opportunity that you’re talking.
00:14:19:11 – 00:14:38:02
Rod
Yeah, now it’s going to be exponential and, you know, and if you’re in a pass, if you’re thinking of investing passively, don’t get locked up in fear because, you know, this is when, you know, bigger returns are going to happen and, you know, you want to be careful. Obviously. But we’re putting together a whole I just add sidebar for a second.
00:14:38:02 – 00:14:56:17
Rod
I put together this whole cash flow club, we call it. It’s this incredible resource with videos and articles and books and things, and it’s all free for passive investors and and we’re just about done with it. And it’s going to be extraordinary, the best resource out there, I think, for this. But, you know, I really believe in the opportunity that’s coming.
00:14:56:17 – 00:14:59:23
Rod
So, you know, I’ll try not to belabor it, but that’s the truth of it.
00:15:00:01 – 00:15:08:07
Mark
Michelle, what are you doing? What are you doing personally to overcome all this fear and everything that’s going on out there in the world right now.
00:15:08:07 – 00:15:24:15
Michelle
In terms of what’s going on in the world? I, I do not watch the news. I don’t turn it on. I don’t want to hear about it. If it’s on social media, I scroll by it or even, you know, there’s people I’ve had to remove because there’s so much negativity. There’s there’s so much division and.
00:15:24:20 – 00:15:41:05
Rod
Bull and there’s so much bullshit. I’m sorry to say it like that, but that’s the bottom line. It’s almost all crap. You don’t even know what to believe anymore. And you know, you got to kind of you got to kind of touch on the headlines. Like the rates just went up two days ago, for example. But you got to touch on the headlines but got it so negative.
00:15:41:05 – 00:15:43:17
Rod
I’m sorry, I interrupted, but good Lord, you’re so right.
00:15:43:19 – 00:16:02:17
Michelle
Oh, you know. Yeah, that’s exactly right. And so so I keep that. I have to keep that out of my brain. I have to keep that out of my mind because that will impact me. And so what do I fill it with? I fill it with positivity. I fill it with you know, you have read, you know, your motivational clips.
00:16:02:21 – 00:16:26:13
Michelle
Yeah, motivational clips. You know, there’s other. Thank you for that. I listen to that, do the same on podcasts and I just keep my mind filled with people that are actually making things happen and that are really following their goals and dreams I have on myself, you know, my vision board. That’s something I look at every day and, you know, I just have to keep that top of mind.
00:16:26:13 – 00:16:40:02
Michelle
I also have it I actually have a vision board in my phone so that even if I’m at work or, you know, wherever I am, I’m standing in a grocery store. Linus is scrolling social media. I just pull up my album of, you know, what I want to accomplish and I keep it top of mind.
00:16:40:04 – 00:16:55:09
Rod
That’s fantastic. I mean, that’s how it works, guys. That’s the bottom line. And I’m going to tell you through what we’re going through, you better have your goals done if you don’t go to Rod’s links. Dot com at the bottom is my goal setting workshop. I do it every year on New Year’s Day or the next day. If I’m hung over now, I’m kidding.
00:16:55:09 – 00:17:09:22
Rod
I’m never really hung over. But. But I do it and it’s got my guide there. You can download. I’m not going to try to sell you anything, you know, and you, if you’ve heard it before, I apologize. But here’s the thing. People spend more time planning a frickin birthday party than they do designing their lives and designing your life.
00:17:09:23 – 00:17:26:04
Rod
Frickin important. Have your spouse do it, have your kids. If they’re over ten years old, do it again. Rod’s links dot com. Go to the goal setting. It’s about an hour and and here’s why that’s a big deal because it’s going to be it’s going to you’re going to really start thinking the the shit is it the fan.
00:17:26:04 – 00:17:46:00
Rod
I’m sorry about the profanity on this on this episode. I’ll decide if we’re going to cut it out or not. But but it’s going to it’s going to happen. It is going to be a lot of fear. Okay. And and so and fear paralyzes. And that’s why your goals are so frickin important, because if you’ve got those in front of you, like Michelle’s got you’ve got your vision boards, you’re focused on what you want, not the other noise and crap that’s out there.
00:17:46:02 – 00:18:04:00
Rod
And so, you know, I’m really glad you brought that up. Michelle, because it’s going to be really important in what’s coming now. I remember in 2009, the news you were saying, you know, real estate is going to be terrible for ten years. Well, baloney. I mean, multifamily rents exceeded pre-crisis levels in less than three years. Okay. And that was a big crash.
00:18:04:02 – 00:18:18:10
Rod
And so, you know, God, forget it. God forbid it’s that bad again. But there’s going to be so much opportunity if you’re focused on what you want, not what you don’t want, because whatever you focus on gets bigger. And if you’re focused on all the political crap and the news and all that, that’s going to get bigger and your blood pressure is going to go up.
00:18:18:13 – 00:18:35:20
Rod
If you’re focused on your goals, that’s what’s going to materialize for you. So my next question for you. Sorry, let me get off my soapbox. So if you could share a war story, you know, you know, I call them seminars and very few people have had bigger than my seminar. But but to share a share of war story.
00:18:35:20 – 00:18:44:02
Rod
Sure. Time you got your butt kicked and and really if there was a take away from it and we all have them and you have an event that business that long and I promise you I know you’re going to come up with something.
00:18:44:02 – 00:19:18:09
Michelle
I’ll take you back to you know I, I had a w to for you know, for many years and and I’ve, I’ve gone in and out of entrepreneurship as well. I worked for a total of three, you know, companies in my life and I’m in one right now. But in between that I’ve had multiple businesses, I’ve had smoothie cafes, I’ve had a hospitality recruiting company, I’ve had my husband had a performance automotive parts company, and he actually got he was having some health challenges and I had to take that over.
00:19:18:11 – 00:19:38:11
Michelle
That was I lost a lot of money on that flipping business that we bought and there were red flags. So this is my take away. There were red flags when we went in to buy it, when we did the due diligence. But we were so excited and, you know, we saw the bottom line money that was possible, you know, that that was being made.
00:19:38:13 – 00:20:00:11
Michelle
And we ignore those red flags and we ended up having to sell it at a huge loss. My other businesses, thankfully, were much more successful. But that one that one hurt because I had taken money that I had made in my debut to through bonuses and stock options and things like that. And I had put it into this business because it had you know, it’s kind of like a big risk, but big reward.
00:20:00:13 – 00:20:30:10
Michelle
And and I ignored the red flags. And so and I think that’s so important and it’s so, you know, it’s applicable to multi family because there’s we have looked at a lot of deals since I started this program and we passed on a lot of deals since I started this program because I just didn’t believe that the underwriting was solid or that they were really going to accomplish or it was just too aggressive and I wasn’t saying what they were saying in their numbers or in the market, you know, things like that.
00:20:30:10 – 00:20:38:12
Michelle
So so get educated enough to be able to, you know, see the red flags. But then you have the you you can’t be.
00:20:38:17 – 00:20:53:19
Rod
Told you have to actually pay attention to them. You got to pay attention to them. Right. You know, I want to tell you, that’s that’s really good feedback because the lesson for you was you didn’t pay attention. There’s this. You got your you got your butt kicked because you didn’t pay attention to the red flags. And I can’t tell you how many times that’s happened to me.
00:20:53:19 – 00:21:11:02
Rod
And and I’m going to tell you guys, you know, the red flags aren’t just in the actual deals themselves are also in the people you meet. Okay. And you know, I have when you go to Rod’s links, there’s a book there about the questions you should ask before you get in a partnership. And one of the things I tell people when I explain that book is also your intuition.
00:21:11:07 – 00:21:28:10
Rod
You know, your brain is so freakin powerful. If something doesn’t feel right, trust it, okay? Because you know, there’s a book about this called Blink where these art experts, world world’s best art experts, can look at a painting and they know it’s a fake, but they don’t know why it’s a fake. And and so, you know, that’s your intuition.
00:21:28:10 – 00:21:46:09
Rod
That’s their intuition. And it’s it’s sometimes subconscious. And when your gut doesn’t feel right, trust it, because it is seeing something you’re not seeing consciously. So it applies not just to people, to the deals, it also applies to people. And you and you had a failure and you and it was a seminar and you got lessons from it.
00:21:46:11 – 00:22:06:09
Rod
And you know, you’ve heard me talk about failures. You know, we failed our way to success. I built 27 businesses. Several were tens of millions of dollars. Most spectacular flaming seminars. Right. And I mean, in Denver, I had frozen yogurt shops at Sixth and Wadsworth in hand, and it was without a carpet cleaning business. I had vending carts down on the 16th Street Mall selling ice cream bars.
00:22:06:12 – 00:22:28:12
Rod
I had a solar business in the tech center. I mean, I’m sorry, I’m just humoring Michelle because she lives there. I mean, at all these different businesses that I’ve tried that failed. So I was doing a what is the the backyard dishes for for Direct TV and stuff before cable TV down enough off of Hampden and I 25 So anyway you know I’ve done it all they’ve all been seminars but we fail our way to success.
00:22:28:12 – 00:22:45:21
Rod
You know you’ve heard me talk about Sarah Blakely, the billionaire owner of Spanx. You know, the women’s undergarment thing, you know, holds everything together. And I met her at a mastermind. She told me that her dad used to ask her weekly, her and her brother, what have you failed at this week? And I thought, what an awesome freaking question right to ask your kids so they don’t fear failure.
00:22:45:21 – 00:23:01:04
Rod
So, you know, I love your answers to that. And you know, and the takeaway that you got from it. So let me ask you this. What’s some of the best advice you’ve ever gotten in your life? Michelle? It could be personal. It could be business. Whatever, whatever you feel. Want to answer.
00:23:01:06 – 00:23:17:23
Michelle
That’s such a great question. I don’t know. It’s so cliche, but start with the end in mind and I wish I would have done that when I started my career because, you know, it was always about what’s the next promotion, What’s the next thing that I can do? What what value can I add? Which is which is all great, right?
00:23:18:01 – 00:23:33:20
Michelle
But I didn’t set the boundaries. Here’s what I want my life, especially outside of work, to look like. And so start with the end in mind, I think is, you know, I’m doing that now in my fifties. So, you know, it’s never too late, right?
00:23:33:20 – 00:23:41:15
Rod
What do you mean by that? So you have this vision of the future, future life that you want and you work backwards towards it. Is that what that means to you?
00:23:41:15 – 00:23:55:02
Michelle
Okay. Right. Beautiful. That’s what I do now. Like, I look at here’s what I want. What do I need to do in the next Let’s say it’s a year goal, right? What I need to do in the next year to make that happen? What do I need to do in the next month? What do I need to do today to move me towards that?
00:23:55:02 – 00:23:57:00
Michelle
I literally work backwards now.
00:23:57:00 – 00:24:09:10
Rod
Oh, it’s fantastic. You know, that’s one of the things we do at the boot camp. One of the exercises we do, like you guys know, we’ve got our September boot camp. In fact, this is going live today. If you hear this today, Friday, the 28th, is it 27th?
00:24:09:12 – 00:24:10:06
Mark
28. Okay.
00:24:10:11 – 00:24:35:12
Rod
28, if you hear it today, my the pricing goes up tonight at midnight. If you pass, if you do me, I’ll hook you up, just me on any social and I’ll hook you up for the 197 price. But yeah, so again, one of those exercises that they do at the event is I have you write out your ideal day, you know from the minute you get up to the time you go to bed, you know, if you live life on your terms with every freedom you could imagine, what would that day look like?
00:24:35:18 – 00:24:53:17
Rod
And because like the end in mind, it pulls you into it. When you have that vision of your future life that that that subconsciously pulls you into it. It’s just one of many things that I do to to help help people actually take action besides the goal setting and all that stuff at the event. We do all these exercises, but that’s a real powerful one.
00:24:53:20 – 00:24:55:21
Rod
That ties in to the end in mind for anyone.
00:24:55:22 – 00:25:17:17
Mark
The analytical people, by the way, they’ll I do this even as well. Like the cool thing about multifamily is that can be numbers driven. If you start at the end in mind and your goal is, let’s say $10,000 a month cash flow, you can then back into that and figure out, okay, how many doors do I need, or if I want to syndicate, what percentage of doors do I need, and then what cash flow is that going to look like?
00:25:17:20 – 00:25:33:14
Mark
And then you can even back that up even further. Okay. How many deals do I have to look at to then get to that amount of doors? And then how many do I have to underwrite and then how many do I have to do on a weekly basis? And you can back everything in about multifamily to figure out how long and how quickly can I get there?
00:25:33:14 – 00:25:34:16
Mark
And that’s the cool thing about it.
00:25:34:16 – 00:25:53:13
Rod
It’s numbers that to meet your goals. Yeah, I mean, most goals, honestly, you can back in like that. I have to agree obviously where I feel like we fail anybody that doesn’t join our program, I sincerely feel that way. Okay. I mean, our students now own somewhere between 170 and 180,000 units that we know of. We’re doing a count or over 160.
00:25:53:13 – 00:26:04:19
Rod
I know we’re going to we’re going to be way over 170 because there’s, you know, people we’ve lost touch with and whatnot. But, you know, so so, you know, talk about talk about your experience for a minute because I think it’s valuable.
00:26:04:20 – 00:26:28:17
Michelle
Thank you. I, I mean, first of all, it’s the knowledge. And I went to my first warrior only meeting and there was so much information there. There was, you know, an information that really took a deeper dive rather than, you know, just the, you know, kind of the top level things that you that you share and learn. You know, maybe at a boot camp or, you know, elsewhere, you know, listening to a podcast.
00:26:28:17 – 00:27:02:10
Michelle
So it’s really that deep dive information that we received. And then frankly, it’s the people that I’ve met, I have been part of a lot of groups throughout the years. I’ve been part of I have a business coach, I’ve been part of a group that, you know, that she has I’ve been part of other networking type programs. There has not been another place where I’ve met the quality of people who truly care about others, who are just good, ethical, you know, people of integrity driven.
00:27:02:13 – 00:27:03:05
Rod
Driven.
00:27:03:06 – 00:27:11:21
Michelle
Yes, goal oriented and willing to share their experience and their knowledge and their deals and, you know, with others.
00:27:11:21 – 00:27:28:18
Rod
And so I don’t know how I don’t know why I attract people like that, but I just happened to, you know, and and I’m so frickin proud of it. You know, we’re doing another at the Orlando event. We’re going to do another Hall of Fame, you know, for exemplary warriors in the program. And and it’s like there’s so many to choose from.
00:27:28:18 – 00:27:44:01
Rod
It’s such a difficult thing. But, you know, we did it in Denver at the last boot camp. And and I noticed something. And I if you’ve heard me say this before, I apologize if some of these things are just really important to me, you know? But we did a little slide for each one of these warriors, and we had them up come up.
00:27:44:03 – 00:28:02:07
Rod
They got an award. Most of them had their families there. It was a big deal. But I started to look at each slide and every single one of these people did something to make the world a better place. Veterans. Suicide. Veterans. Homelessness. Schools in India. Sexual trafficking and on and on and on. And I pointed to the 900 people and I’m like, That’s what we call a frickin clue.
00:28:02:07 – 00:28:18:08
Rod
Okay? Because these, you know, this group gives back. They want to make the world a better place. It’s not just about the money. By the way, if you want to apply to our Warrior program, text the word crush to seven two, three, four or five, just like Michelle did. Or better yet, get your butt to my boot camp.
00:28:18:08 – 00:28:38:00
Rod
Frankly, you. Come on, It’s coming right up. It’s. That’s a no brainer. If you can spare the three days. It’s not a big sales pitch. It’s just full on drinking through a fire hose. I talk about the warrior program for, like 30 minutes. The rest of it’s all training, you know, and it’s a wonderful experience. And you will leave so freaking juiced, you’ll be coming out of your skin.
00:28:38:05 – 00:28:47:10
Rod
And if you don’t love it, just let me know and I’ll give you your money back. I don’t mean like it. I mean frickin love it. And it’s never happen. But there’s a first time for everything but one more that.
00:28:47:10 – 00:29:08:09
Mark
I wanted to end on, because I know you’ve talked about underwriting the relationships, and I noticed this when I saw this deal posted. Correct me if I’m wrong, this most recent deal that you’ve done, you guys actually did a loan assumption at a very low rate, which maybe was part of the underwriting, but was that something that you were looking for?
00:29:08:09 – 00:29:17:05
Mark
Did that just help boost the deal? And tell us tell us about that and how this all kind of came together, because that’s very unique. And then in terms of creative financing.
00:29:17:07 – 00:29:39:14
Michelle
Well, you know, I mean, I’m probably a little conservative by nature. I a funny story about that. I mean, I’m debt free. I, I just I, I have had this roller coaster ride with that my entire life. And in 2019, I said no more. I’m getting out of all of my consumer debt and I even paid off my house.
00:29:39:16 – 00:29:44:13
Rod
Oh, congratulations. Thank you’re you’re a Dave Ramsey poster child.
00:29:44:15 – 00:29:51:23
Michelle
I am. I am. I do. I think that’s another podcast I listen to, although I don’t agree. Obviously, everything he says in terms of real.
00:29:51:23 – 00:29:59:18
Rod
Estate, I’ve got you know, I’ve got debt on my compound, but it’s at three freakin percent. It would be a crime to pay that off, you know, anyway.
00:29:59:20 – 00:30:19:16
Michelle
But that’s that has frankly served me well in the last number of years. But so when I look at when I saw the underwriting on this particular deal, I thought I haven’t seen a deal this good, you know, in terms of the incredibly low interest rate which isn’t available anymore, you have to get it through a loan assumption.
00:30:19:18 – 00:30:38:05
Michelle
There was a lot of work that was already done. It cash flows from day one. There is more value add to do, but we are going to cash flow, so we’re going to continue to improve it for the residents. Make it an even better place to live. But at the same time, we already make money from the day that we close.
00:30:38:05 – 00:31:02:19
Michelle
I mean, and that that’s just it’s not always, you know, available out there. And then plus, like you said, it’s the people that are part of the deal. My coach is on that deal. And so so so I feel like I can’t go wrong there. But right. You know, he has a lot more experience than I do. But there was, you know, just all of the numbers when you put it together.
00:31:02:21 – 00:31:03:10
Michelle
It was.
00:31:03:15 – 00:31:04:01
Rod
Nice.
00:31:04:06 – 00:31:05:21
Michelle
Longest one that I’ve seen.
00:31:05:23 – 00:31:17:15
Rod
Nice, nice, nice. So I’m going to ask you a question I don’t know that I’ve ever asked before. So if heaven exists and you show up at the pearly gates, what would you want to hear God say when you arrive?
00:31:17:17 – 00:31:20:17
Michelle
Well, great question. Heaven does exist.
00:31:20:19 – 00:31:23:09
Rod
I agree. I agree. I agree.
00:31:23:11 – 00:31:35:20
Michelle
And I guess I want to hear that you made a difference. You made a difference in others. You know, you added value. You know, thank you for adding value. You know, to my children. So.
00:31:35:22 – 00:31:50:23
Rod
Oh, beautiful. Frickin beautiful. So great to see you. We’ve got I know we’ve got our next one year event in November in Phenix. I don’t know if you can make it, but if you can. Sure love to see you again and or the boot camp or both. We the whatever. But yeah, we’ll have hundreds of warriors at the boot camp as well.
00:31:51:01 – 00:32:07:08
Rod
In fact, most of them will be on panels answering questions. So we go in Saturday night, we go well into the night, it gets ugly. You bring in a bar and there’s drinks and I’m yelling at people to shut up in the back of the room. And and people say that’s probably the best part of the event is the question, the Q&A that goes for hours at, you know, on Saturday night.
00:32:07:08 – 00:32:13:13
Rod
It’s a blast. But anyway, I hope I see you one or both. And and thanks for coming on and add some value.
00:32:13:13 – 00:32:16:16
Michelle
Thanks so much. I it’s been such an honor. Thank you.
