I Interviewed Michael Blank on Apartment Investing
________Here are the Show Notes________
Partner with Multi-family Home (MFH) students to close first MFH deals.
Passive Income became attractive after reading Rich Dad, Poor Dad.
Opened pizza restaurants without mentor and lost 95% of net worth after 5 years.
Realize can raise money for Real Estate. Flipped 30 houses in 2 1/2 year but still active work.
Received passive mailbox money for first apartment in 2011 and never turned back.
Combination of doing MFH deals and teaching/helping others is fulfilling.
Stop being a drifter. Drifting keeps us from living an intentional life.
Ongoing experiment to scale business while not lacking quality of deal.
Transition from being focused on generating money to helping people become financial-free.
Do first MFH deal and reduce living expenses to quit W-2 job.
Momentum will build in subsequent deals. But first deal is always hardest.
At peace with things out of your control.
Be sensitive to where your business is to make right investments, such as virtual assistants, salary employees, etc.
Smaller apartment deals (duplex) will kick off law of first deal.
Don't need $30K to do first deal. Spend on education and raise capital and/or find deals in this seller's market.
Controlling time is most important resource. Don't put ladder on wrong building.
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