Financial Freedom with Real Estate Investing MB462: Overcoming Limiting Beliefs - With Phil Moeller
Welcome to another insightful episode of Financial Freedom with Real Estate Investing. If you're struggling to scale your real estate portfolio, this episode is packed with essential insights to guide you on your journey. Whether you've started with single-family homes or are contemplating jumping straight into multifamily investing, our guest Phil Moeller shares his transformative journey from corporate manager to thriving multifamily investor.
Phil Moeller, a seasoned real estate investor since 2011, has acquired and managed over 430 units across 40 transactions. In this episode, Phil joins our host, Michael Blank, to compare the strategic advantages of multifamily versus single-family investments, emphasizing why multifamily might be the smarter path to financial freedom. From overcoming limiting beliefs to navigating the transition phases, Phil shares the setbacks and strategies that informed his journey.
In this episode, Phil explains his beginnings in single-family homes, pivoting to multifamily, and the multiple factors that influenced his real estate success. He candidly talks about the importance of having meaningful conversations with your spouse about financial goals, raising capital, and shares his acronym for success: PEACE (Purpose, Education, Association, Courage, Example).
Key Takeaways:
Phil’s Entry into Real Estate:
- Sparked by the birth of his first child and the desire for his wife to work less.
- Began with single-family homes, leveraging the BRRR method.
Transition to Multifamily:
- Realized the challenges of scaling single-family investments.
- The pivotal decision when managing 25 single-family doors became overwhelming.
Importance of Spousal Conversations:
- Essential to align on goals and strategies for family and business.
Overcoming Limiting Beliefs:
- How Phil addressed his own doubts and misconceptions about multifamily investment.
PEACE – Phil's Philosophy for Success:
- Embrace Purpose, Education, Association, Courage, and be an Example for others.
Phil's First Multifamily Acquisition:
- Shift strategy by embracing partnerships and leveraging knowledge from experienced multifamily investors.
Raising Capital:
- Transition from self-funded deals to understanding the power of partnerships and investor relationships.
For those ready to take actionable steps towards achieving financial freedom through real estate, Phil emphasizes the importance of clarity, aligning your purpose with education, surrounding yourself with the right people, and taking courageous actions.
Connect with Phil on LinkedIn or via his website, www.moellere.com, and listen to his insights on real estate and business on the Moeller Real Estate and Business Podcast.
Be sure to tune in to this value-packed episode to understand how you, too, can bridge the gap from single-family to multifamily investing. For further resources or to connect with our community, visit thefreedompodcast.com. Whether you're new, aspiring to scale, or interested in passive investing, we're here to help you on your financial freedom journey.
Connect with Michael
Resources
Access the #1 FREE Apartment Investing Course (Apartments 101)
Schedule a Free Strategy Session with Michael's Team of Advisors
Explore Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
Review the Podcast on Apple Podcasts
Get the Book, Financial Freedom with Real Estate Investing by Michael Blank
For full episode show notes visit: https://themichaelblank.com/podcasts/session462/