Storage Wins EP224: Haim Mamane Talks about Pivoting from Virtual Wholesaling to High-End Flips (and Gaining More Happiness & Fulfillment In The Process)
This is Haim Mamane's second appearance on the show and a lot has changed since then! Last we heard from Haim he was in Memphis running a team of seven people and closing roughly five to six deals a month. However, about a year or so ago, Haim realized that none of that made him happy and it was time for a shift in business model, perspectives, and even markets! Find out what he's up to today and how he's 'cut the fat' on everything that made him unhappy.
Key Takeaways:
- Haim was always giving info out for free and helping others when Alex and he first connected.
- Who is Haim and what does he do?
- After growing the business and having a team of seven people, Haim realized he hated it.
- Haim decided to change his business model and go for low volume/high spread deals. That way he can make much more money with fewer deals and have a smaller team to manage.
- Haim didn't want to be a slave to his business.
- When did Haim decide to make this shift?
- What was the San Francisco market like as compared to Memphis?
- Haim shares a quick story of one of his first sellers in SF.
- Now, if it makes sense to rehab it, Haim will just rehab it. He wasn't doing that before in Memphis.
- Haim has done two rehabs this year and one wholesale.
- What does Haim's team look like today?
- Haim now focuses on the parts of the business that fulfill him and has 'cut the fat' on everything else.
- What kind of things has Haim been investing in to generate cash flow?
- Remember, pay yourself first.
Mentioned in This Episode:
"Episode 32: How To Wholesale for 6 & 7 Figure Deals (High-End Wholesaling)," with Jason Buzi
"Episode 48: Branching Out Into Different Real Estate Markets Across State," with Haim Mamane Connect with Haim on Facebook
Book Recommendations:
The Four Spiritual Laws of Prosperity: A Simple Guide to Unlimited Abundance, by Edwene Gaines
The Blessed Life: The Simple Secret of Achieving Guaranteed Financial Results, by Robert Morris
The Richest Man in Babylon, by George S. Clason
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine, by Mike Michalowicz
Tweetables:
"I found myself working too hard, not being happy, and dealing with the drama of team members."
"I built this business to allow me to travel and support my lifestyle. I don't want to be a slave to my business."
"I always shoot for 6-figures or to at least make 10% of the ARV in profit."
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