043: It's All About Passive Income

Today, my guest is Michael Blank, Apartment Building Investing podcast host and coach. He realized that it doesn’t matter how much money he has in the bank or his salary. It’s all about highly leveraged passive income.

Michael was hook, line, and sinker in the search for financial freedom. He put his nose to the ground, started some single-family and multifamily flips, and learned how to raise money. Now, he shares his knowledge about apartment buildings with others. 

Topics on Today’s Episode:

• Michael settled on multifamily because there’s always something to worry about and you can’t control value with single-family properties
• People think they don’t have the experience and cash needed to do multifamily,  but all that’s not necessary - can overcome both quickly
• Real estate is the vehicle, but it’s about building cash flow and legacy wealth
• Multifamily is a different language; so there’s no reason to not start now
• Educate yourself and build a team to appear as an experienced investor
• Get started with multifamily through experience, education, and raising money  
• Michael has blazed a trail that works and believes in the power of mentorship
• Most people who have become financially free, after a state of confusion, they give back and serve others
• Blueprint for financial freedom is in Financial Freedom with Real Estate Investing; at the heart of it is your first deal
• Believe in yourself and take action; make a decision that enough is enough
• Focus on your first deal - whether it is big or small - to start cash flow
• Education Program: Find and do a deal that is meaningful and achievable; phase 2 is to analyze deals, form a team, and meet potential investors
• Only takes 1-2 years to replace your W-2 job; may mean just 1 deal a year

Links and Resources Mentioned:

• Michael Blank
• Apartment Building Investing Podcast
• Financial Freedom with Real Estate Investing
• Rich Dad Poor Dad
• David Lindahl
• Tony Robbins

 

Quotes:

“It doesn’t matter how much money I have in the bank, what my salary is. It’s all about passive income.” Michael Blank

“I was hook, line, and sinker in the search for financial freedom.” Michael Blank

“Multifamily - it’s a whole different language.” Corey Peterson

“You’ve blazed a trail that works, and the power of mentorship is important.” Corey Peterson

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Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.