Listen to the podcast here:
Summary:
In this episode, Whitney interviews Michael Blank, an apartment building investor, entrepreneur, and teacher. Michael forayed into real estate investing in 2005 and started syndication from 2010. Michael shares how syndicators can cultivate an actionable mindset to venture into real estate syndication – and meet their end goal of financial freedom. Why does Michael prefer syndication over fixing and flipping properties? Why it is critical for a syndicator to have a rock solid peer and mentor group? You will learn how taking actionable steps can help you quit your job to don the hat of a full-time syndicator. Tune in for some great insights from industry’s best!
Our Gracious Sponsors:
See The Real Estate CPA’s Special Virtual Workshop for the listeners of The Real Estate Syndication Show on How to Answer Tax Related Questions from Your Investors!
http://bit.ly/TheRealEstateCPA-Syndication
Time Stamped Show Notes:
- 00:29 – Whitney introduces Michael to listeners
- 01:11 – How did Michael transition to the real estate business?
- 02:19 – Michael tries his hand at the restaurant business
- 03:14 – What was Michael’s experience with the flipping business? Why did he transition to multifamily syndication?
- 04:55 – Did Michael’s family and friends dissuade him from venturing into real estate syndication?
- 06:10 – Importance of having a peer group and mentor group who can guide you
- 07:00 – Michael shares details of his first syndication deal
- 07:30 – How did Michael raise capital for his first multifamily syndication?
- 09:24 – Why did Michael not opt to scale up his fixing and flipping business?
- 11:12 – Is Michael considering any other alternative asset classes?
- 12:06 – Get your tax related queries answered by the real estate CPA
- 13:30 – The importance of achieving clarity as a real estate investor
- 15:29 – Can you get started with multifamily syndication from the get go?
- 17:38 – Resources that can help you create clarity and get started in the syndication business
- 18:40 – Michael shares how quitting your job is the first step towards becoming a full-fledged syndicator
- 19:00 – How long will it take you to achieve financial freedom after venturing into multifamily syndication?
- 20:18 – What, according to Michael is the most challenging part about real estate syndication? We discuss the importance of taking action
- 22:41 – What is the #1 thing that has contributed to Michael’s success?
- 24:30 – How to remain motivated and overcome adversities in business
- 24:58 – Michael shares his contact information
- 25:58 – Be a part of the 2019 Phoenix Educational Workshop
- [spp-timestamp time=”27:05″] – A special thanks to our sponsor, Lifebridge Capital
In this episode, you will learn:
- Importance of having a solid peers and mentors who can help you arrive at the right decisions
- Reasons why you should opt for multifamily syndication over fixing and flipping
- How achieving clarity can help you realize your end goals
- How to quit your job to don the hat of a full time syndicator
Resources
- Rich Dad Poor Dad: What the Rich Teach their Kids About Money that the Poor and Middle Class Do Not!
- Apartment Building Investing Podcast
- Financial Freedom with Real Estate Investing: The Blueprint To Quitting Your Job With Real Estate – Even Without Experience Or Cash
- Real Estate Syndication Podcast
- Life Bridge Capital
