Financial Freedom with Real Estate Investing

What if you could run a successful multifamily syndication business with other people’s money? And what if you could do it with no prior experience and achieve financial freedom in one to three years? Here at the Michael Blank organization, we’ve helped 130-plus new investors do their first deal, using a step-by-step process we call the Deal Maker Blueprint. On this solo episode of Apartment Building Investing, I walk you through the 8-step system to achieve financial freedom with multifamily syndications, explaining why it’s crucial to map your vision and connect with a network of likeminded peers early in your journey. I describe how to get the skill set you need to speak to brokers and investors (in just 30 days!) and then work the system, analyzing deals and building your pipeline until you close your first deal. Listen in for insight on scaling a syndication business and learn how financial freedom leads to a life of significance! Key Takeaways How I respond to the common objections re: multifamily You don’t need real estate experience You don’t need any of your own money Just focus on getting your first deal The Deal Maker Blueprint Step #1—Map Your Vision Calculate your freedom number Develop AM routine (affirmations, visualization) The Deal Maker Blueprint Step #2—Get Connected Join support network, e.g.: mastermind Recruit advisor to hold you accountable The Deal Maker Blueprint Step #3—Get the Skills Clarify size and location of first deal Analyze 5 deals and create sample deal package Recruit lender and property manager to team The Deal Maker Blueprint Step #4—Work the System Analyze deals Talk to potential investors The Deal Maker Blueprint Step #5—Build Your Pipeline Stay committed to activity vs. outcome Stick with it as long as it takes The Deal Maker Blueprint Step #6—Close the Deal Submit LOI and negotiate offer Due diligence, secure financing and raise money The Deal Maker Blueprint Step #7—Grow and Scale Law of First Deal attracts more deals, investors Build platform to market syndication business The Deal Maker Blueprint Step #8—Make a Difference Financial freedom unlocks your true purpose Life of significance = help other people Resources Download Michael’s Deal Maker Blueprint Join the Deal Maker’s Mastermind Learn More About Michael’s Mentoring Program Explore Michael’s Deal Maker Certification Training Watch the Replay of Michael’s Platform Builders Masterclass Financial Freedom with Real Estate Investing by Michael Blank REIA Mint Financial Peace University Affirmations on Apartment Building Investing EP247 The Miracle Morning: The Not-So Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod The (6-Minute) Miracle Morning Syndicated Deal Analyzer Building a Platform on Apartment Building Investing EP237 Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

If you can see it, you can be it. And as more female multifamily investors speak up about what they are doing, it gives other women permission to pursue real estate too. To that end, Elizabeth Faircloth is creating a community where women investors can get support the way they need it. Elizabeth is the Cofounder of the DeRosa Group, a multifamily investing firm on a mission to transform lives through real estate. She and her husband Matt manage a portfolio of 1,000 units worth $60M up and down the east coast. Liz is also the Co-creator of The Real Estate InvestHER, a community that empowers women real estate investors to live a financially free and balanced life. On this episode of Apartment Building Investing, Liz joins cohost Garrett Lynch and me to offer advice for couples on aligning their goals early on. She explains how to delineate roles in a real estate business partnership and why building community is so important. Listen in for Liz’s insight on increasing the number of women investors and learn how she features female role models through The Real Estate InvestHER platform. Key Takeaways How Liz got into real estate Read Rich Dad… and introduced husband to idea Invested in first duplex together 15 years ago Liz’s advice for couples on aligning your goals Have conversations about what you value Attend personal growth weekends together How to delineate roles in a business partnership Consider individual skills and experience Factor in passion and personality Why it didn’t work the first time Liz left her W-2 for real estate Market crashed and didn’t delineate roles correctly Too many different strategies (lack of focus) What inspired The Real Estate InvestHER community Partnership with Andresa on deals, mastermind Create safe space to support other women How Liz scaled her community to 40 Meetup groups Use Dan Hanford model, Meetup Pro account Partner set up portal with agendas and scripts Why building community is so important to Liz Research on women (longevity, financial literacy) Passion around empowering women to invest Liz’s insight on the small number of women investors Societal conditioning to fly under radar Must highlight journeys, lift each other up Liz’s role with the DeRosa Group Assemble team, lead STR acquisitions Oversee investor relations Liz’s advice for aspiring multifamily investors No overnight success, takes time and energy Stay the course and don’t give up Connect with Elizabeth Faircloth DeRosa Group DeRosa Group on YouTube The Real Estate InvestHER The Real Estate InvestHER Podcast The Real Estate InvestHER Community on Facebook Resources Learn More About Deal Maker Live Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club The Only Woman in the Room: Knowledge and Inspiration from 20 Women Real Estate Investors compiled by Ashley L. Wilson Elizabeth on BiggerPockets EP203 REIA Rich Dad Poor Dad by Robert T. Kiyosaki CASHFLOW Game Awaken the Giant Within: How to Take Immediate Control of Your Mental, Emotional, Physical and Financial Destiny by Tony Robbins Landmark Forum Andresa Guidelli Dan Hanford Meetup Pro Matt Faircloth on BiggerPockets NMHC Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

So, you want to be a multifamily investor, but… You’ve never done a deal before. You don’t feel comfortable approaching potential partners. The pandemic has shut down all of the usual networking events. And you live six time zones ahead of the market where you’d like to invest. But what if all of these challenges are really just opportunities to grow? Suzy Sevier and Michael Barnhart are the husband-and-wife team behind Adventurous Real Estate Investors, a multifamily firm dedicated to helping avid travelers and adventure seekers create passive income and time freedom through apartment building investing. Suzy and Michael got interested in real estate during the lockdown, and in nine months, they have attended 10 virtual events, booked 600 networking calls, put together an experienced team and built a portfolio of 88 units—without leaving their home in the UK! On this episode of Apartment Building Investing, Suzy and Michael join cohost Garrett Lynch and me to share their genius system for turning virtual events into networking opportunities and following up with the people they meet. They explain why they built a thought leadership platform right away and describe what kind of educational content they create. Listen in for insight on how Suzy and Michael turn roadblocks into opportunities, making the best of the situation they’re in to make their dream of financial freedom a reality! Key Takeaways How Suzy & Michael got interested in real estate Read Multiple Streams of Income during lockdown Took advantage of time off to network How to turn virtual events into networking opportunities Take screenshot and follow up on LinkedIn Hop on calls and track potential partners How Suzy & Michael found virtual real estate events Ask contacts about upcoming or favorite events Intentional search through social media Suzy & Michael’s system for following up with contacts Ask about goals, send personalized follow-up email Guide to online thought leadership platform What kind of educational content Suzy & Michael create Blog on mindset, market trends and investing Promote on social and send monthly email When Suzy & Michael found the time for investing Work until 6pm UK time and then start networking 20+ calls/week = 600 calls in last 9 months The team of 6 Suzy & Michael created from networking Partner to serve as boots on the ground in US Capital raiser, KP and experienced syndicator How Suzy & Michael got past their fears of networking Remember that everyone starts in same place Ask to host meetings for W-2 job as practice What it’s like for Suzy & Michael to work together Stepped on each other’s toes at first Things improved after clearly defining roles Why Suzy & Michael focused on content right away Didn’t have deal, must prove selves different way Mimic successful investors they aspire to be Suzy & Michael’s advice for aspiring multifamily investors Clearly define goals, get 1% better every day Devote time to ALL aspects of business Connect with Suzy Sevier & Michael Barnhart Adventurous Real Estate Investors Michael & Suzy’s Free Checklist Resources Partner with Michael Through the Deal Desk Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Explore Michael’s Platform Builders Framework Learn More About Deal Maker Live Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! by Robert G. Allen BiggerPockets Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

When you have a high-paying corporate job, it can be tough to walk away. But if time freedom is a priority for you, and you’re willing to take action, you absolutely CAN break out of the rat race and replace your W-2 income with multifamily real estate. Jenny Gou and Steven Louie are the Cofounders of Vertical Street Ventures, a multifamily investment firm dedicated to helping people achieve financial freedom through passive investing in real estate. Steve is an experienced multifamily investor with a portfolio of 2,500-plus units, and he recently quit his corporate job to focus on real estate full time. Jenny left the rat race early in 2020 with a portfolio of single-family homes, and since then, she has gone from zero to 800 multifamily units. On this episode of Apartment Building Investing, Jenny and Steve join me to discuss how they broke out of corporate America, describing the mindset of action and focus on family that drove their decision to walk away. They explain how their respective backgrounds in sales benefit their real estate business, sharing how it gives them a competitive edge in sourcing opportunities. Listen in for insight on the different roles on a multifamily team and learn how to achieve scale by partnering with other investors. Key Takeaways How Steve & Jenny met and became partners Steve met Jenny’s husband at local meetup Similar values, shared background in sales What made Steve a good mentor for Jenny Track record of success in multifamily Allowed to sit in on meetings Why Steve agreed to partner with Jenny Needed support on operations side Respects Jenny’s ability to assess people What appeals to Jenny about multifamily operations Learn by doing to accelerate growth Used to leading teams, managing projects How Jenny benefits from being a full-time investor Opportunity to learn quickly Able to blow past goals The roles on a multifamily real estate team Acquisitions or business development Asset management (execute business plan) Underwriting Investor relations Why Steve & Jenny decided to partner NOW Quit rat race to prioritize family Scale portfolio to replace income What inspired Steve to leave a good corporate gig Mindset of action, right mentors Tax advantages of real estate How a sales background helps multifamily investors Understand importance of relationships Competitive edge in sourcing opportunities What Steve & Jenny would tell their younger selves House hack rather than buy first house Don’t have to be landlord to be investor Connect with Steven Louie & Jenny Gou Vertical Street Ventures Steven on LinkedIn Jenny on LinkedIn Resources Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Explore Michael’s Platform Builders Framework Feedspot’s Top 40 Apartment Investing Podcasts Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom by Robert T. Kiyosaki CBRE ABI Multifamily Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Without the high-net-worth individuals who put money in our deals, we wouldn’t have a syndication business. And yet, most of us are terrible at showing our appreciation to the passive investors we work with. When a deal goes through, we send them a mug or hat with our logo on it and call it a day. But does that reflect what the relationship is actually worth to us? Is there a better way to do gifting? John Ruhlin is the Cofounder of Giftology Group, a strategic gifting consultancy that helps sales leaders, business owners and executives unlock loyalty and turn clients into raving fans. He founded Giftology Group in college to market Cutco Cutlery as a high-end corporate gift to companies of all sizes, and today, John is the #1 distributor in Cutco’s 60-year history. John is also a sought-after keynote speaker and author of Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention. On this episode of Apartment Building Investing, John joins cohost Garrett Lynch to explain how he came to dominate the Cutco leaderboard using gifting to build relationships. He introduces us to the giftology system, describing how he leverages generosity to turn his best clients into salespeople and raving fans. Listen in for John’s insight on how much to allocate for gift-giving and learn how YOU can get a 10X return by investing in the people who make your business profitable. Key Takeaways How John came to dominate the Cutco leaderboard Learned relationship-building from mentor Paul Sent gifts to land meetings with big-time CEOs John’s insight on the value of relationship-building Make decisions emotionally, justify with logic Gifting = mechanism for generating emotion John’s concept of a return on relationship Initial $7K investment in gift to Cameron Herold $25K over 10 years = 50X return on relationship The key ingredients of John’s giftology system Include handwritten note, name family members Personalize gift and be intentional about timing What makes John’s giftology system work Generates like, trust and keeps top-of-mind People crave human-to-human relationship How much a business should allocate toward gift-giving Reinvest 5% to 15% of net profits in relationships Invest in people already work with at some level Why giftology requires a long-term commitment Genuine generosity vs. manipulation tactic Turn best clients into salespeople John’s top examples of the benefits of giftology Invited to appear on Gary Vaynerchuk show 107% increase in referrals for John Bowen Connect with John Ruhlin Giftology Group Download the Giftology System Email john@giftologygroup.com Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention by John Ruhlin Entrepreneurs’ Organization Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World by Gary Vaynerchuk John on Marketing for the Now with Gary Vaynerchuk Artifact Mug The 5 Love Languages Young Presidents’ Organization Vistage Books by Don Yaeger Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

There’s a lot of pressure on high school grads to go to college. Without a degree, the story goes, we can’t earn good money. But Cody Davis realized he didn’t need earned income if he could make passive income with real estate. And he didn’t let little things like being 19 years old and having no money or experience get in his way. Cody is a broker with Blackwell Real Estate in Tacoma, Washington, and multifamily investor with a portfolio of 24 units. And he just turned 21. Cody dropped out of college to get his real estate license just two years ago, and since then, he’s closed on two 12-unit deals—without using any of his own money! On this episode of Apartment Building Investing, Cody joins me to explain how he overcame the pressure to go to college and what inspired his mentor to take Cody on. He shares his unique approach to cold calling, discussing why sellers take him seriously despite his youth and how he’s building the skill of raising money. Listen in to understand how Cody used seller financing to do his first two deals and find out how he achieved financial freedom before he was old enough to buy a drink. Key Takeaways How Cody got interested in real estate Family friend gifted Rich Dad Poor Dad Make good money without college How Cody overcame the pressure to fit in with friends Don’t need degree if earning passive income Partying = unnecessary distraction How Cody found a mentor in Robert Slattery DM re: real estate post on Facebook All-in and willing to work for free What Cody would have done without a mentor Plan to house hack duplex Work multiple jobs to qualify for loan Why Cody is willing to broker deals for others Didn’t qualify with banks early on (cash poor) Learn from investors and their peer group How Cody overcame the fear of cold calling Predict worst-case scenarios Gets easier with repetition Cody’s first $1.1M 12-unit seller financing deal Raise 10% down and partner with mentor 30-year mortgage with no balloon Why sellers take Cody seriously despite his age Phone conversation before meet in person Age irrelevant if know how to negotiate Cody’s second $680K 12-unit seller financing deal Value-add opportunity (off-market) Promissory note for $120K down $2K/month cashflow from day one Cody’s experience with the Law of the First Deal Earned credibility with investors Build skill to raise equity for others in office How sellers benefit from seller financing Splits up tax liability over number of years Income without headache of management Cody’s advice for aspiring multifamily investors Get good at numbers, learn Excel Show how deal is win-win for everyone Connect with Cody Davis Cody on Instagram Email cody@blackwellre.com Resources Join the Nighthawk Equity Investor Club Learn More About Michael’s Mentoring Program Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert T. Kiyosaki CASHFLOW Board Game The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Timothy Ferriss Be Obsessed or Be Average by Grant Cardone Robert Slattery at Blackwell Real Estate BiggerPockets Podcast Gino Wickman on Apartment Building Investing EP243 Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

When your WHY is big enough, you find a way. It doesn’t matter that you’re brand new to real estate investing. It doesn’t matter that you don’t have a college degree. And it doesn’t matter that you don’t have any money. Sadhana Sabharwal is the real estate investor and coach behind Single Mom Millionaire and The No Money Down Academy training course. Sadhana was a recently-divorced, single mother of three boys when she got into real estate, and in four years, she built a portfolio of 46 doors. Sadhana’s focus is on buying, renovating and holding properties for positive cashflow, and she specializes in creative financing strategies that leverage other people’s money to buy real estate. On this episode of Apartment Building Investing, Sadhana joins cohost Garrett Lynch and me to explain how a painful divorce inspired her real estate investing journey. She shares her approach to creative financing, describing how she funds deals with seller financing and why networking was so valuable in helping her learn the business. Listen in for insight on finding your WHY and learn how Sadhana’s positive mindset influences her success! Key Takeaways How Sadhana’s real estate investing journey began Husband left her for another woman Needed way to support three boys How Sadhana got interested in real estate investing Work as law clerk, introduced to investor Invited to join small real estate club How Sadhana funded her first deals with no money Open line of credit against house Home Depot card for renovations Sadhana’s initial plan for real estate investing Find ways to buy without using own money Renovate, refinance and repeat process How Sadhana overcame being female and a minority Joint venture with experienced investor Build trust with consistent networking Sadhana’s advice on getting started with real estate Make use of free resources (Google, YouTube) Invest in real estate investing courses Ask questions at networking events Sadhana’s favorite creative financing techniques BRRRR strategy Seller financing How Sadhana got over the fear of asking for help Remember your WHY No choice but to figure it out What needs to happen to have more women investors Give themselves more credit Role models and strong WHY The top lessons Sadhana learned from her divorce Don’t make your life miserable making his hell Being happy and grateful is your choice Connect with Sadhana Sabharwal Single Mom Millionaire The No Money Down Academy Resources Join the Nighthawk Equity Investor Club What’s the Best Investment: The Stock Market or Real Estate? Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

As a passive investors, we understand the importance of building a diverse portfolio. And while multifamily is the best investment on the planet, it doesn’t hurt to explore our options, especially when BIG opportunities present themselves. So, what are the opportunities in oil right now? And how do we choose a project that is likely to succeed? Bob Burr is the driving force behind Burrite, an investment firm that focuses on the acquisition and consolidation of oil and gas properties. A 47-year veteran of oil and energy finance, Bob is dedicated to helping the industry bounce back from the COVID crisis by providing the bridge capital necessary to weather the current economic storm. Bob is currently raising money for the BR Dome property, a project that involves recompleting 247 existing wells with room for 200 more. On this episode of Apartment Building Investing, Bob joins cohost Garrett Lynch and me to explain how he set himself up for buying opportunities when oil prices dropped and share the tax advantages of investing in oil. He walks us through the parallels between multifamily and oil, discussing the importance of putting together an experienced team that can identify and operate value-add projects. Listen in for Bob’s insight on why a passive investor should consider adding oil to their portfolio (even in the Biden era) and find out how YOU can get Bob’s Q&A video by shooting an email to admin@burrite.com. Key Takeaways Bob’s extensive background in the oil business Started with brother in 1973 Funding projects through syndication How Bob set himself up for buying opportunities in COVID People leave business as price of oil went negative Buy cashflowing wells and wait for cycle to go up Bob’s BR Dome project in Houston 247 existing wells with room for 200 more Note offering with interest rate of 10% to 18% What Bob does to attract and maintain a strong team Take care of people in loving business culture Make it rule to thank team every day The lessons Bob has learned through many market cycles Maintain integrity in relationship with partners Weather storm, make $ when cycle comes back Bob’s insight on buying undervalued assets Pick cashflowing wells not being run efficiently Reduce lifting cost to $3.50/barrel How it works to invest in an oil project Operator leases mineral rights from landowner Operator and investors get 75% of net revenue Why Bob is optimistic about oil in the Biden administration Shutdown of fracking doesn’t impact his business Still make good money at oil price of $25/barrel The parallels between investing in oil and real estate Make money by adding value with good operator Tax advantages (write-off up to 90% passive loss) Why a passive investor should add oil to their portfolio 65% shot at making well from good prospect BR Dome = 90% shot (cherry pick best spots) How to learn more about investing in Bob’s oil projects Email admin@burrite.com Request Q&A video Connect with Bob Burr Burrite Email admin@burrite.com for a link to Bob’s Q&A Video Resources Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club Bob’s BR Dome Project Brad Simmons at Burrite Justin Burr at Burrite Dale Carnegie Ed Hirs at Burrite Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

In real estate school, they teach you that the money is made when you buy. But that just isn’t true for apartment buildings. Yes, you have to buy right. But in the multifamily space, the money is made in the execution of your plan to increase revenue and reduce expenses. And the asset manager is responsible for making sure that happens. Daniel Simpson serves as Asset Manager at Nighthawk Equity, the investing arm of The Michael Blank organization. He has nearly 30 years of experience in multifamily, residential and commercial property management, developing an expertise in strategic business forecasting, budget allocation, complex data analysis and property financials. Daniel has an impressive track record of acquiring, renovating and repositioning C-class value-add properties in as little as 18 months. On this episode of Apartment Building Investing, Daniel joins me to share his hands-on approach to asset management, describing what he does on his monthly site visits and how he helps property managers optimize revenue and reduce expenses. He walks us through the metrics he uses to identify property management issues and explains why all problems come down to people. Listen in for Daniel’s insight on the limited role property managers should play in construction projects and learn when you should consider hiring a full-time asset manager! Key Takeaways Daniel’s insight on the fundamentals of asset management Ensure investors’ goals met, returns on target Provide guidance to property managers How often Daniel meets with property managers Speak with regional manager once/week minimum Unannounced visit to site managers once/month When to take a hands-on approach with property managers High turnover rate Higher than normal vacancy rate Lack of success in leasing units Collection issues Move-outs not entered timely Daniel’s take on why all problems come down to people Tenants rent from STAFF vs. apartment itself Asset manager’s job = find breakdown in system What metrics Daniel watches closely as an asset manager Consistency in NOI Occupancy (physical and economic) Delinquency Live PNL Closing ratio How to identify problems with property management Look at comps and communicate that with staff Secret shops to evaluate leasing staff’s performance Daniel’s process for optimizing a multifamily business Start with maximizing revenue (add $5 to $10/unit) Minimize expenses next, reevaluate contracts How Daniel thinks about managing expenses Ask questions about potential overspending Audit line items to keep property managers honest What Daniel does on his monthly site visits to a property Walk vacant units, talk with property manager Visit with leasing agents and maintenance staff Verify that move-in files match what’s in system Why property managers should not handle construction Distraction from filling units and collecting rent Better to hire GC or specialist (local or in-house) The role a property manager should play in construction Go to early meetings, input on scope and timeline Hand GC keys needed to carry out project What an average syndicator can do if they can’t afford a GC Use construction manager (part of management co) Build 5% in budget for specialist to oversee project When it’s time to hire an asset manager for your business Depends on skill set of investors in joint venture As soon as you can afford it Connect with Daniel Simpson Nighthawk Equity Email daniel@nighthawkequity.com Resources Learn More About Michael’s Mentoring Program Join the Nighthawk Equity Investor Club CLASS Leasing Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Yes, work ethic and taking action are key in becoming a successful real estate investor. But mindset is even more important. Before you can start working toward the life you want, you have to conquer middleclass thinking. You have to stop following the money and start making money follow YOU. Keith Weinhold is the real estate educator, entrepreneur and investor behind Get Rich Education, a platform designed to help people achieve financial freedom through real estate investing. An active member of the Forbes Real Estate Council, Keith is known for his expertise around buy-and-hold real estate, and he transacts 100-plus properties per year. Keith is also a bestselling author and host of the wildly popular Get Rich Education Podcast, a show with more than 3M downloads in 188 countries. On this episode of Apartment Building Investing, Keith joins cohost Garrett Lynch and I to explain why mindset is crucial in becoming a successful real estate investor, describing how to overcome middleclass thinking and make other people’s money work for you. He weighs in on why delayed gratification is overrated, challenging us to cultivate an abundance mentality and start living the life we want right now. Listen in for Keith’s insight on the ‘shadow demand’ in the housing market and learn why inflation is a good thing for YOU as a multifamily investor. Key Takeaways Why mindset is crucial in becoming a successful real estate investor Don’t live below means but EXPAND means Make outsized decisions to live outsized life What inspired Keith to move to Alaska and invest in real estate Go after what you want or you’ll never have it Rather than following money, make money follow you Why so many people settle and never take action to invest Peer group reinforces doing safe thing ‘To change yourself, change your five’ The first steps to improving your quality of life with real estate Get honest about what you really want Live beneath means vs. live well The problem Keith sees with middle class thinking Work for money and have little left to invest Make money work for you (vs. other people’s money) How real estate makes other people’s money work for you Tenant’s money for income Bank’s money for leverage Government money at scale Why more people aren’t investing in real estate over Wall Street Best product but worst marketing Lack of financial education Keith’s mission through the Get Rich Education platform Financial freedom through real estate Live better and give better (abundance mindset) Why Keith thinks delayed gratification is overrated Subpar quality of life until old enough to retire 401(k) = life deferral plan Why the property is the 4th most important thing in investing Decide what want real estate to do for you FIRST Carefully consider market and team of professionals Keith’s short-term outlook on the real estate market Strict criteria to qualify for eviction moratoriums 95%+ rent collections Keith’s insight on shadow demand in the real estate market More household formation as economy recovers Demand increase with population growth, immigration The 3 ways inflation is good for real estate investors Price inflation Debt debasement Cashflow enhancement Connect with Keith Weinhold Get Rich Education Get Rich Education Podcast Resources Learn More About Michael’s Mentoring Program Keith on Apartment Building Investing EP034 Rich Dad Jim Rohn Ted Benna on Get Rich Education EP197 Pew Research Statistics on Young Adults Living with Parents US Bureau of Labor Statistics Consumer Price Index Keith’s Inflation Triple Crown Video Keith’s Free eBook 7 Money Myths That Are Killing Your Wealth Potential Podcast Show Notes  Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group