How A 23 Year Old Bought A 10 Unit As His First Deal (And Found A $70M Mentor)
Jan 23, 2025
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Mike Linquata, the operations director for Legacy Investment Group and a driven 23-year-old Yale graduate, shares his journey in real estate. He highlights the challenges he faced in securing a 10-unit property as his first deal and how mentorship played a crucial role in his growth. Mike discusses the importance of building relationships and trust in real estate, as well as the wealth-building potential for young investors through strategic partnerships. He emphasizes adapting strategies while keeping a clear vision to seize unexpected opportunities.
The speaker's transition from internship to operations manager illustrates the importance of proactive networking and community support in real estate investing.
Prioritizing mentorship and cultivating relationships in mastermind environments can foster growth and provide essential knowledge for overcoming real estate challenges.
Deep dives
The Journey to Ownership
At just 23 years old, the speaker transitioned from a finance internship to becoming an operations manager at a real estate private equity firm, all while simultaneously buying his first investment property. This journey began in college when he discovered real estate investing through social media, leading him to seek mentorship and community support. He demonstrated a commitment to learning by reaching out for guidance and eventually pursuing a role that aligned with his ambitions. This shift highlights the importance of proactive networking and seizing opportunities in the real estate sector.
Investing in Yourself
The speaker emphasizes the need to invest in oneself to achieve success, noting that he joined a mastermind community to propel his career forward. Despite financial uncertainties, he made the choice to prioritize hiring a mentor over traditional career paths, demonstrating a willingness to face discomfort for long-term gain. This decision facilitated important connections and knowledge that were pivotal in overcoming initial challenges in the real estate market. His experience underscores the value of mentorship and being in an environment that fosters growth.
Building Valuable Relationships
Critical to the speaker's success was his ability to cultivate meaningful relationships within his network. Being present in mastermind events enabled him to create connections with experienced investors, one of whom eventually hired him for a key role in his firm. He learned the importance of leading with value, offering his services without immediate compensation to gain invaluable experience. This approach not only opened doors but also provided a roadmap for navigating the intricate world of real estate.
Rethinking Investment Strategies
The speaker challenges common misconceptions about entering real estate, pointing out that potential investors often focus excessively on capital rather than partnerships. He emphasizes that successful real estate ventures rely on collaboration and leveraging the expertise of experienced operators. By sharing insights on forming alliances and raising capital, he illustrates a model where community and shared goals can lead to successful investment outcomes. This perspective encourages aspiring investors to shift their mindset from fear of finances to embracing strategic partnerships.
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