The Multifamily Wealth Podcast #294: Discussing Market Cycles, Market Selection, and Rebuilding a Business After a Decade in Prison with Mike Morawski
Aug 26, 2025
Join Mike Morawski, a resilient real estate veteran and author who rebuilt his $60M business after a decade in prison. He shares insights on navigating market cycles and the importance of strategic market selection to avoid chasing trends. Morawski discusses the risks of over-leverage in syndications and emphasizes the need for discipline and transparency for long-term success. His powerful journey highlights that even after catastrophic failure, reinvention and growth are possible through humility and calculated risks.
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Don't Grow Faster Than Your Capital
- Avoid scaling faster than your capital and systems can support.
- Keep adequate reserves and avoid overleveraging to prevent cascade failures.
Raise Full Capital Before Execution
- Raise full capital before executing a business plan and keep operational funds aside.
- Build underwriting reserves and ensure you can fund execution through stabilization.
Strategic Hires And Cash-Flow Lifelines
- A few strategic hires and long-held cash-flowing properties helped him survive the collapse.
- Those assets and staff later aided recovery after losing most holdings.