BiggerPockets Real Estate Podcast

818: From 16-Year-Old Skater to Investing in “Cash Machine” Kmart Conversions w/Mikey Taylor

Sep 14, 2023

Mikey Taylor, a former professional skater turned serial investor, shares his strategy of turning "boring" investments into cash machines, making millions of dollars. He discusses his transition from skateboarding to real estate, building a brewery, investing in big multifamily deals, and the bold moves he made to achieve financial mastery. Topics include passive income, starting a successful brewery, and the fear of life after skateboarding.

01:04:29

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Episode guests

Mikey Taylor

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Quick takeaways

Identifying and repurposing old retail spaces into storage facilities can be a lucrative investment strategy due to existing demand and cost advantages.

Creating a strong brand and leveraging marketing strategies are critical for success and standing out in a saturated market.

Understanding supply and demand dynamics, following market trends, and assessing risk and return ratios are essential for making informed and profitable real estate investments.

Deep dives

Building a Brand and Creating Value in Real Estate

The podcast episode discusses the importance of building a brand and creating value in real estate investments. The guest speaker shares their experience with starting a craft brewery, using marketing strategies to promote the brand, and attracting investors. They highlight the significance of understanding supply and demand dynamics and following market trends. The episode also touches on the concept of value-add multifamily investments and the importance of considering long-term viability and investment horizons. The guest speaker emphasizes the need to assess risk and return and the value of financial literacy in real estate investing.

Introduction

2min

Mikey Taylor's Lifetimes and Key Takeaways

5min

Frugality and Financial Habits in Skateboarding

15min

Crafting a Brand and Lifestyle

12min

Understanding Risk in Investing

7min

Long-Term Perspective in Investments and Expansion into Real Estate

15min

Lessons Learned and Success Strategies

10min

A Meeting, Podcast Episode, and Energy Expenditure

2min

Cash flow “machines” is how Mikey Taylor describes his most recent investments. To the non-investors, the numbers seem too good to be true. But Mikey has repeated this system, again and again, to make millions of dollars off of “boring” investments that most investors overlook. What “cash machines” is Mikey referring to, and how do you go from making $800/month to millions of dollars like he did?

Mikey has no degree, full-time job, or wealthy parents to hand him an inheritance. At sixteen, Mikey made it his mission to find sponsors for his skateboarding career. What started as a hobby grew into a profession, but Mikey knew it wouldn’t last. After searching for some other income to support him when his career finally ended, Mikey conveniently stumbled upon real estate—and the rest is history.

Since ending his skateboarding career, Mikey has built a brewery, invested in multiple BIG multifamily deals, and started buying the “cash machine” properties so many investors WISH they could get their hands on. If you want to know the strategy behind these bold moves and how you can go from barely scraping by to financial mastery, like Mikey, this is THE episode to watch.

In This Episode We Cover:

The “cash machine” real estate investments only few investors will buy

What REAL passive income looks like and how to start building your income streams today

Starting a brewery from scratch and selling it for an almost unbelievable profit

The “blue ocean” real estate deals many are too scared to touch

Converting Kmarts into self-storage and how much money Mikey makes off of each

How to avoid lifestyle inflation when you start making big bucks (so you can invest the rest!)

And So Much More!

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