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Apartment Building Investing with Michael Blank Podcast

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Michael Blank’s passion is being an entrepreneur and helping others become (better) entrepreneurs. His focus is apartment building investing by raising money from private individuals. He’s been investing in residential and multifamily real estate since 2005 and began syndicating deals in 2010. He is the author of the Syndicated Deal Analyzer and the free eBook “The Secret to Raising Money to Buy Your First Apartment Building”. Through Michael’s blog on TheMichaelBlank.com, his weekly articles on the BiggerPockets.com, and his Podcasts, Michael is enthusiastic about sharing what works (and doesn’t work!) in the world of commercial real estate investing.


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MB 188: STOP Saving Your Money & START Investing in Multifamily – With Grant Cardone
Do you have your money right? Or are you handing it over to Wall Street and hoping for the best? What if I told you that the secret to true wealth is to STOP saving your money and START using it to invest in real assets—like multifamily real estate! Grant Cardone is the CEO of Cardone Capital, a multifamily real estate investment firm with more than $1.36B in assets under management. He is also an international speaker and bestselling author, well-known for creating the 10X Movement and 10X Growth Conference. Grant was named the #1 marketer to watch by Forbes, and he is a widely respected entrepreneur who owns and operates seven privately held companies. On this episode, Grant joins me to share what he’s investing in now, discussing what kind of returns he expects on multifamily deals. He walks us through a day in the life of Grant Cardone, sharing his secret to work-life balance, his definition of true wealth, and his thoughts on the importance of spirituality. Listen in to understand what is driving Grant to build a legacy and learn how his Reg A fund serves non-accredited investors. Key Takeaways What Grant’s investing in right now $473M portfolio in 5 properties, 2K+ unitsWell-located and institutional qualityDeals with competition (list of buyers) Why Grant avoids value-add multifamily deals Lack of salary growth in America‘Value-add story will hit limits’ The returns Grant expects from multifamily investments 5 to 6% cashflow, 15% IRR$40M down becomes $135M in 30 years Why Grant started a Reg A fund with $5K minimums Moral issue to support ‘little guy’Not true that < sophisticated, more trouble A day in the life of Grant Cardone Time for gym, self-improvementShut down work at 6pm for dinner Grant’s secret to work-life balance Don’t invest in anything with potential to loseNo worry more important than high returns How Grant’s approach to money has changed Used to scrounge, act like miserNow use money to make life easy What drives Grant to keep growing Legacy for family, change communityProduce something of value = live forever Grant’s insight on taking it to the next level From $90M deal to $900MGood friends will challenge Grant’s definition of wealth Money, time, love, health and purposeContinuous learning = expansive The role of spirituality in Grant’s life Spirit comes before and after bodyBest ideas come from beyond mind Grant’s advice for ABI listeners Get your money right (use, don’t save)Invest in real estate with someone you trust Connect with Grant Cardone Grant’s Website Cardone Capital Resources Cardone University 10X Growth Conference Grant on Lewis Howes’ Podcast in 2017 The 10X Rule: The Only Difference Between Success and Failure by Grant Cardone The Millionaire Booklet: How to Get Super Rich by Grant Cardone Robert Kiyosaki on Apartment Building Investing EP160 The Real Estate Guys What’s the Best Investment: The Stock Market or Real Estate? Nighthawk Equity Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank
MB 186: The Predictability of Passive Investing in Multifamily – With Spencer Hilligoss
W-2 jobs give us a sense of security. But what happens if you lose your job or can’t work due to illness or injury? Spencer Hilligoss wanted to play financial defense and build enough passive income to keep the lights on for his family should something unexpected happen. And though real estate gets a bad rap for being a risky investment, Spencer discovered that multifamily is actually very predictable. In fact, it’s the best kind of boring!  Spencer has 13 years of experience in tech startups, building high-performing teams across five companies—three of which valued at more than $1B. He currently serves as the Senior Director of Professional Development for LendingHome, the largest residential flip lender in the country. Spencer is also the Cofounder and Principal at Madison Investing, a real estate education platform dedicated to helping busy professionals build passive income, and a contributing writer and member of Forbes Real Estate Council. On this episode, Spencer joins me to explain how the ‘dark decade’ he endured as a young man inspired him to pursue passive income through real estate. He shares his approach to financial planning, describing how he and his wife set goals and analyze deals together. Listen in for Spencer’s insight around the benefits of passive investing in multifamily over SFH strategies and learn exactly what he looks for in a sponsor, a market and a deal. Key Takeaways What’s keeping Spencer at his W-2 job Take care of team at workDon’t want to pull ripcord too soon How Spencer got into real estate Dad was top-performing real estate brokerBrother’s death + parent’s divorce led to bankruptcyPursue real estate to play defense financially The Silicon Valley wealth playbook Join early stage tech startup for equityWork 16-hour daysPray for liquidity eventSave for retirement (can’t access) Spencer’s path to multifamily investing Tech startup lends to real estate investorsGet educated and compare strategiesBuilt SFH portfolio of 7 (not passive) How passive investing in multifamily differs from SFH Analyze deal and build relationships up frontDouble money in 5 years, don’t lift finger to manage Spencer’s approach to financial planning Based on being great parent, giving backWork toward $8K/month passive income What Spencer looks for in a sponsor Track record (trustworthiness, grit, etc.)ApproachTeamCommunication Spencer’s advice for new syndicators Leverage partnerships and coachingBorrow credibility from experienced investors What Spencer looks for in a market Strong job growthEmployers = counterweight to correction What Spencer looks for in a deal Specific plan to add valueFirsthand photos/videos beyond pro forma What’s next for Spencer More active to accelerate timelineScale impact through educational platform Connect with Spencer Hilligoss Madison Investing Spencer On LinkedIn Email spencer@madisoninvesting.co Resources Rich Dad Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not by Robert T. Kiyosaki City-Data Department of Numbers What’s the Best Investment: The Stock Market or Real Estate? Nighthawk Equity Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank
MB 185: Creating an Uber-Like Resident Experience for Apartment Buildings – With Patrick Antrim
Technology has succeeded in disrupting several industries. Think about what Uber has done to the taxi business. Or how Airbnb has changed hotels. These innovations work because they create a frictionless experience for consumers. So, how might #proptech disrupt multifamily? And how can apartment investors leverage technology to better the resident experience and compete in the market of the future? Patrick Antrim is the Founder and CEO of Multifamily Leadership, a thought leadership platform that researches the best in innovation and leadership in the multifamily space. He has 18 years of experience managing the portfolios of some of America’s most influential real estate entrepreneurs and business titans, including Forbes billionaire George Argyros. Patrick is also the host of the Multifamily Leadership Podcast and the creator of the Multifamily Leadership Summit. On this episode, Patrick joins me to share his take on shifting renter expectations and explain why investors of the future need to understand technology. He describes how we can use tech to improve the tenant experience and why class B and C operators shouldn’t dismiss tech as a luxury amenity. Listen in for Patrick’s insight around current trends in multifamily and learn how his organization is exploring the intersection among technology, leadership and resident journey. Key Takeaways How Patrick got into the asset management space Retire from playing for New York YankeesApprentice to former Mariners owner (5K multifamily units)Grew relationships with HNWI to manage $1.2B portfolio Patrick’s take on shifting renter expectations Look at multifamily as consumer categoryUnique opportunity for operators to add value Why investors of the future need to understand technology Lift on revenue (e.g.: $55/month for smart home)Compete with luxury developmentsFuture valuations based on tech in buildingsSave up to $100K/year on expenses How we can use tech to improve the tenant experience AI voice assistant to answer callsUpgrade leasing journey (i.e.: digital applications)Smart appliances, IoT devices in units Patrick’s insight on tech in class B and C properties Consumers quick to adopt tech (e.g.: Wi-Fi)Impact operational inefficiencies like keys, work ordersEliminate need for leasing agent at small properties Why property management companies are slow to adopt tech Investors already winning, don’t have to think ahead Patrick’s thoughts on current trends in multifamily Talent as last competitive advantageResident experience drives returnsDiscussion around affordable housing Patrick’s mission with Multifamily Leadership Collision of tech, leadership and resident journeyDesign co. to attract talent, residents + investors Patrick’s advice for aspiring multifamily operators Focus on creating value long termMake sure incentives aligned Connect with Patrick Antrim Multifamily Leadership Multifamily Leadership Podcast Patrick on LinkedIn Resources Michael’s Mentorship Program George Argyros John Saunders LeaseHawk SmartRent PointCentral Vivint Smart Home Urbandoor STRATIS IoT BIM Technology Shadow Summit Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank
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Podcast Details
Aug 5th, 2014
Latest Episode
Nov 4th, 2019
Release Period
No. of Episodes
Avg. Episode Length
35 minutes

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