Mike Auerbach, VP of Growth at 1031 Specialists, shares his background and journey in the commercial real estate industry. He discusses the opportunities and challenges in the 1031 exchange space, emphasizing the importance of carving out a niche. The conversation also touches on the impact of technology and social media in the industry, the value of community and in-person experiences, and the need to embrace vulnerability and take risks. Additionally, Mike addresses the 1031 exchange process and the misconceptions surrounding it. He talks about the impact of artificial intelligence on the industry and shares insights into his daily routine and advice for success. Mike emphasizes the importance of patience, urgency, and surrounding oneself with good people. He also shares his interest in history.
00:00 Introduction and Background
02:07 Carving Out a Niche in Commercial Real Estate
06:39 The Impact of Technology and Social Media
10:32 The Value of Community and In-Person Experiences
13:21 Embracing Vulnerability and Taking Risks
24:14 Demystifying the 1031 Exchange Process
30:34 The Impact of Artificial Intelligence on the 1031 Exchange Industry
35:15 Balancing Patience and Urgency for Success
42:54 The Power of Surrounding Yourself with Good People
47:24 Gaining Insights from History
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