Financial Freedom with Real Estate Investing

Imagine being able to raise millions of dollars for a syndication deal in just a few days, with very little effort on your part. If you build it right, an online platform allows you to do just that, scaling your capital raise business by 10X in just 12 to 18 months! Kate Buck is the Director of Marketing for us here at The Michael Blank organization. With nearly 15 years of experience in social media management and content production, Kate has worked with some of the top names in the digital marketing space and led strategic social media campaigns for global corporations, films, entrepreneurs and nonprofits. On this episode, Kate turns the tables to ask me some questions about building an online platform to raise capital for multifamily syndications. We discuss what it takes to build an effective digital marketing platform and why you DON’T have to be a writer or a tech genius to do it. Listen in for the 4 things your platform needs before you try any of the more advanced marketing strategies (like paid advertising) and learn how I leveraged our online platform to raise $8M in 3 days! Key Takeaways Kate’s extensive background in digital marketing Work with pioneers in online marketing space Expert in social media and content production How I learned the value of online marketing to raise capital Struggled to raise money for deal 18 months ago Realized not engaging list beyond lead capture Started producing weekly content for audience Able to raise $8M in 3 days for recent deal Why syndicators need to create an online platform Scale capital raising business (10X in 12-18 months) Impact and serve more people, grow influence The function of an online platform for syndicators Attracts certain kind of person/investor Capture information (e.g.: email address) Serve audience with educational material Lead audience to some transformation The biggest mistakes syndicators make in creating a platform No way to capture lead on website No follow-up to make leads deal ready Overwhelmed by process, do nothing Think every element must be perfect Why ANYONE can build an online platform to raise capital Can create original content without being writer Never been easier to use technology Easy to outsource content production The 4 things your platform needs before you try advanced strategies Method of capturing leads Series of automations to welcome and indoctrinate System for onboarding to investor club Infrastructure + commitment to produce regular content Some advanced marketing strategies for promoting your platform Promote lead magnet at Meetup, on podcasts Shout out lead magnet on YouTube channel Suggest next best action (e.g.: book + companion course) Paid traffic through Facebook The business case for building an online platform to raise capital Invest at least 20% of acquisition fee in marketing machine Convert industry standard 1 investor for every 32 leads Earn about $2,100 for average investment of $70K each Connect with Kate Buck Kate’s Website Kate on LinkedIn Kate on Twitter Kate on Facebook Resources Deal Maker Live Sign Up for Michael’s Live Webinar—April 15 at 8pm EST Michael’s Spreadsheet & Blog Post on Building a Platform Temi Financial Freedom with Real Estate Investing by Michael Blank Join the Nighthawk Equity Investor Club Joe Fairless Dan Handford Neal Bawa Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Beyond the risks it poses to our health, the Coronavirus is causing chaos in our economic system as well. Businesses have closed their doors and many Americans have lost their jobs or had their hours cut. And the stock market is on its way down. But what does it all mean for us as multifamily investors? Is the sky falling? Or are there things we can do to protect ourselves and serve our tenants in this challenging time?   On this episode of Apartment Building Investing, I’m sitting down with an expert panel of multifamily operators that includes Drew Kniffin, Brian Burke, John Cohen, Reed Goossens, Andrew Cushman and Ellie Perlman to discuss what we are doing to protect our investments and our investors through the Coronavirus pandemic. We share our strategies for income preservation and expense reduction, explaining how we are supporting tenants through the crisis and what programs we are leveraging to keep our employees on payroll. We go on to address how COVID-19 is likely to impact passive investors and offer insight on what they can do to take advantage of the shift to a buyer’s market. Finally, we explore the short-, medium- and long-term implications of the economic fallout from the Coronavirus and describe the incredible wealth-building opportunity available to savvy real estate investors in the months to come. Listen in to understand what defines a good deal in the current environment and learn how to use this time to prepare for the next up cycle! Key Takeaways What Andrew is doing as an owner to protect his investments Put together resources for tenants Negotiate with service providers to cut costs Apply for Paycheck Protection Program Flexible with tenants, reward early payment No increase in rent on lease renewals How John’s team is navigating the Coronavirus crisis Reach out to tenants with message ‘here for you’ Focus on tenant retention, mitigating expenses Ellie’s insight on tenants who can’t pay vs. tenants who won’t CARES Act prohibits evection whether lost job or not Depends on prior relationship with tenants, location The additional things Ellie’s team is doing to navigate COVID-19 Offer furnished model units to traveling nurses Security deposits to pay rent, replace with insurance The additional things Brian’s team is doing to navigate COVID-19 Refer tenants to Project Porchlight financial counseling Postpone rent or amortize over next several months $50 grocery gift card if reach out to explain situation Brian’s insight into the Paycheck Protection Program SBA loan to cover 2.5X payroll if keep employees May not apply to third-party property manager Reed’s perspective on the Coronavirus crisis Keep hysteria manageable, get good info to tenants Share maintenance tech across portfolio How Drew and Brian think about the risk for passive investors Money safe if deal well-capitalized + plenty of reserves Most sponsors halt distributions next quarterly cycle Little/no rent growth and reduced occupancy for awhile John’s insight on how the crisis will change lender behavior Vet sponsors harder moving forward Require 12-plus months of reserves The overnight shift from a seller’s market to a buyer’s market Must assess risk of unknown (focus on #s, not emotion) Buyers ask for discount based on current financials What passive investors should do in the short-term More opportunity to invest in quality deals Conduct proper due diligence on operator Our predictions around what to expect in the short term All feel pain as transaction velocity grinds to halt Be proactive, lenders willing to work with us Our predictions around what to expect in the medium term Take time for income and job growth to recover Wealth building opportunity if not too anxious Our predictions around what to expect in the long term Look back and laugh in years to come Grow and get stronger from weathering storm How to stress test acquisitions in this new environment Over-raise for operations and capital expenditures Reduces IRR but money on hand for rainy day events Why it’s hard to underwrite deals right now No good info on change in economic vacancy rates Year-on-year rental growth will take massive hit How student housing may be affected by the Coronavirus crisis Protected if parent guarantee in leases, semester vs. year Consider reaching out to hospitals to provide extra beds How the stock market crash will affect our ability to raise capital Some investors not as liquid due to stock market losses Those with capital to deploy may prefer real estate What the average investor should be doing right now Get educated and line up investors Start underwriting deals, develop parameters Choose markets likely to come back quickly Don’t get too excited but be ready for up cycle The moratorium on evictions due to COVID-19 Local governments not processing evictions at this time Forbearance requires not evict anyone over term of loan The potential growth of secondary and tertiary markets Less dense = safer than tight, urban environments Also depends on economic makeup of area What defines a good deal in this environment 60- to 90-day due diligence No hard money down, financing contingency Mitigate risk with conservative underwriting Retrade with integrity if value goes south The 5 steps for making a successful shift to entrepreneurship Singular focus Measurable action plan Proper time management Understanding of finances Accountability Connect with the Expert Panel Drew Kniffin Brian Burke John Cohen Reed Goossens Andrew Cushman Ellie Perlman Resources Deal Maker Live Deal Maker Mastermind Michael’s Products & Programs Michael’s Mentoring Program Nighthawk Equity The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications by Brian Burke CARES Act Paycheck Protection Program Project Porchlight   Josh Thomas Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Are you working a W-2 job that leaves you depleted? Even if you love what you do, it’s likely that the stress of the commute on top of the work itself means you have little left to give to your family at the end of the day, never mind making a significant impact on the world at large. Krista Wilper was tired of being too tired to engage with her husband and sons, so she leveraged multifamily investing to quit her corporate job. And she credits her success to a daily effort to keep her mind in the right place. Krista is the creator of Synergy Invested LLC, a real estate education and investing platform based in Golden, Colorado. She retired from her executive position at an adult beverage company at the age of 38, walking away from a six-figure income to pursue real estate full time. Now, Krista and her husband own $2.2M in single and multifamily investments, and she is on a mission to help others achieve financial freedom and get control of their time and energy through real estate investing. On this episode of Apartment Building Investing, Krista joins me to explain why she quit a job she loved to pursue real estate, sharing the series of conversations she had with her husband and what she loves most about not working a 9-to-5. She discusses why she took action when so many others don’t and explores why there are so few women in the world of multifamily. Listen in for Krista’s insight on the value of hiring a coach, getting the right support system in place, and training your mind for multifamily investing! Key Takeaways Why Krista made the decision to quit a job she loved Stress around being both mom AND executive No energy to discipline son caused tension with husband What the conversation with Krista’s husband was like Planned on retiring in 5 years, counted on her income Doubted that she could get him out with real estate Why Krista took action when so many others don’t Ability to push outside comfort zone + manage fear Surrounded self with encouraging people Kept returning to numbers when emotions came up Daily effort to keep mind in right place Something bigger than self to keep on track What Krista loves most about not working a 9-to-5 Energy to juggle responsibilities as mom Time to focus on helping other people Krista’s primary real estate investing goals Double net income Allow husband to retire in 3 to 5 years The first steps Krista took to reach her investing goals Hired a coach (helped think BIG) Eliminated naysayers from circle Krista’s insight on overcoming both internal and external challenges Find something bigger than yourself to chase Train your mind (stop comparing, listening to excuses) Understand your relationship with money + limiting beliefs Take action even when you don’t know what you’re doing Hire coaching Come back to numbers Krista’s take on why there aren’t more women in investing Brains operate differently (spaghetti vs. waffles) Ego in thought leader communication = turnoff for women Krista’s advice for aspiring multifamily investors Get coach Get mind right Get support group in place (includes partner and team) GO Connect with Krista Wilper Krista on LinkedIn Synergy Invested on Instagram Synergy Invested on Facebook Resources You Are a Badass at Making Money: Master the Mindset of Wealth by Jen Sincero The Real Estate Guys Michael’s Mentoring Program Deal Maker Live Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Once you’ve exhausted your sphere of influence, where can you go to raise capital for multifamily deals? You might be surprised to learn that LinkedIn is one of the best places to connect with high-net-worth individuals (HNWI) and introduce them to the benefits of apartment building investing. Yakov Smart is the creator of LinkedIn Lead Enterprises, a platform designed to help business owners find clients on LinkedIn. An internationally recognized LinkedIn expert, Yakov teaches top CEOs, bestselling authors and real estate syndicators how to transform their LinkedIn profiles into priceless, relationship-building assets. Yakov is also the author of Disrupting LinkedIn: The Definitive Guide to Generating Leads, Receiving Referrals and Attracting High-End Clients Through Marketing on LinkedIn. On this episode of Apartment Building Investing, Yakov joins me to explain why LinkedIn is the best social platform for finding investors and raising capital for multifamily. He shares the biggest mistakes syndicators make on LinkedIn and walks us through his SPOT formula for finding leads through the professional networking platform. Listen in for Yakov’s insight on the tools available for building lists and learn how YOU can connect with the right people, send the right message, and scale your marketing efforts with LinkedIn. Key Takeaways Yakov’s take on the availability of capital for real estate HNWI not on traditional social media channels Use LinkedIn to find + educate right people Why LinkedIn is the best platform for finding investors Average household income = $115K Use to expand professionally and build wealth 40M direct decision-makers, 100M influencers Why LinkedIn works well for raising capital More interactive since bought by Microsoft Make connections and learn on own time How Yakov discovered LinkedIn as a lead source Used to generate new business (software sales) Market to hard-to-reach individuals The biggest mistakes people make on LinkedIn Being unintentional Profile not up-to-date, all about you Pitch everyone with same message Focus too much on content creation Yakov’s SPOT formula for finding leads on LinkedIn Start with your list Position self as authority Optimize for what THEY want Transition relationship offline The four ways to build lists on LinkedIn Free search Search by groups Sales navigator search Paid traffic How to scale your marketing efforts on LinkedIn Use AI to automate custom follow-up Respond manually only when raise hand How to convert investors from stocks to real estate Use information-based marketing Build LinkedIn groups Connect with Yakov Smart LinkedIn Lead Enterprises Yakov on LinkedIn Resources Michael & Yakov’s LinkedIn Webinar Disrupting LinkedIn: The Definitive Guide to Generating Leads, Receiving Referrals and Attracting High-End Clients Through Marketing on LinkedIn by Yakov Savitskiy Yakov’s Irresistible Profile Cheat Sheet Meet Edgar Michael’s Platform Builder Framework Webinar What’s the Better Investment: The Stock Market or Real Estate? Nighthawk Equity Michael’s Investor Incubator Deal Maker Live Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

What is your true, God-given calling in this life? Most of us are limited by time and money, so we don’t even dare to dream about fulfilling our purpose. But what if multifamily investing could give you the freedom to pursue your calling? To live a life of significance? And to make a real impact in the world? Ellis Hammond is the founder of Kingdom Capitalists, the #1 mastermind for Christian real estate entrepreneurs. In 2018, when Ellis was serving as a full-time college pastor, he and his wife invested in a $600K duplex in San Diego. Nine months later, he added a 144-unit multifamily property in Memphis to his portfolio. Today, he manages a network of investors seeking passive income opportunities across the US with the goal of increasing their income and impact. On this episode of Apartment Building Investing, Ellis joins me to discuss what inspired him to get involved in real estate, sharing his AHA moment around the relationship between capital and impact. He opens up about the limiting beliefs he struggled with early on, describing the mindset shift that helped him get comfortable asking investors for very large sums of money. Listen in for Ellis’ insight on the power of community in real estate investing and learn how multifamily can give YOU the freedom to pursue your true calling. Key Takeaways What inspired Ellis to get involved in real estate Running Christian nonprofit in San Diego Team member struggling to buy groceries The Christian community’s limiting mindset around money Seen as root of all evil Ministry needs capital to create greatest impact How Ellis’ approach to real estate investing evolved Bought and renovated $600K duplex in San Diego Introduced to syndication (leverage money raising skills) The limiting beliefs Ellis struggled with early on Thinking had to be millionaire to do multifamily Scared to go big, ask for 10X sums of money Ellis’ concept of creating margin in your life Real estate gives freedom of time or money Use to fulfill God’s calling on your life What allowed Ellis to quit his job to pursue multifamily Support of wife and team in ministry Realized okay to pursue different calling What Ellis is passionate about right now Launch mastermind for Christian investors Increase income + impact to change world Why Ellis loves the community of real estate investing Don’t have to love everything about process Accelerate goals with just ONE connection Ellis’ advice for aspiring multifamily investors Figure out + leverage your superpower Don’t have to do it alone Connect with Ellis Hammond Kingdom Capitalists Ellis’ Website Ellis on LinkedIn Email ellis@kingdomcapitalists.co Resources Rich Dad Poor Dad by Robert T. Kiyosaki Uganda Counseling and Support Services Deal Maker Live Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

If you’re looking to scale your efforts at raising capital with an online platform, you may be curious what you can and cannot do to market your business. What exemptions do you need to file in order to legally advertise a multifamily offering? How do you build the ‘preexisting and substantive’ relationship with investors the SEC requires for the 506(b) when you’re connecting online? Gene Trowbridge is the managing partner of Trowbridge Sidoti LLP, a California law firm that specializes in real estate syndications and crowdfunding. Gene has extensive experience in commercial real estate investment, and in the last six years, his firm has authorized securities offering documents for more than $1.5B of equity raised. He is also the author of It’s a Whole New Business, the definitive book on securities for multifamily investors. On this episode of Apartment Building Investing, Gene joins me to discuss the two methods for legally advertising a real estate syndication (online or otherwise), the Reg A and 506(c). He explains why the 506(b) is more popular than the 506(c) and offers advice on proving a preexisting and substantive relationship with investors per the rules of the 506(b). Listen in for Gene’s insight on doing a 1031 Exchange in a syndication and learn how to leverage the tenant in common agreement to bring on new investors. Key Takeaways The two ways to legally advertise a real estate syndication Regulation A+ Regulation D 506(c) What syndicators need to know about the Reg A Costs $50K to $100K and takes 4 to 6 months Works for syndicators with huge social network Why more investors don’t do a 506(c) Most sophisticated sponsors have enough investors Requires third-party verification of accredited investors The SEC rules around the 506(b) Not allowed to advertise offering Must show substantive + preexisting relationship What it means to have a substantive + preexisting relationship More than just collecting email address More interactions = easier to prove Gene’s advice on proving a preexisting relationship Develop record-keeping system to track interactions Use introductory questionnaire (sign and date) How to work with an investor with 1031 Exchange money Cannot invest in LLC (must be deed to deed) Make them tenant in common in new ownership structure What to do when some of your LPs want their money from a sale Interview investors prior to sale re: potential for 1031 Open two separate escrow accounts (one for holdouts) How to bring on new investors in a 1031 Exchange project Operating agreement may allow for new investors in LLC Two separate LLCs as tenants in common (= partnership) Connect with Gene Trowbridge Trowbridge Sidoti LLP It’s a Whole New Business by Gene Trowbridge, Esq. CCIM Resources Regulation A Regulation D No Action Letters 1031 Exchange Gene’s TIC (Tenant In Common) Epidemic Webinar Opportunity Zones How to Raise Millions in Days with the Platform Builder Framework Deal Maker Live What’s the Best Investment: The Stock Market or Real Estate? Nighthawk Equity Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Imagine earning as much as $10K in cashflow distributions from your investment in a multifamily property in a given year—yet claiming a taxable LOSS! You CAN mitigate (and in many cases even eliminate) taxable income for years with the MAGIC of bonus depreciation. But you do need to do a cost segregation analysis to claim it. Terry Judge is the Founder and CEO of CORE Solutions Group, one of the nation’s leading cost recovery consulting firms specializing in engineering-based cost segregation studies. He is committed to educating multifamily investors on how to maximize cashflow and take full advantage of the ever-changing tax code. Terry has 14 years of experience in the cost seg space, yielding more than $1B in net tax savings for CORE clients. On this episode of Apartment Building Investing, Terry joins me to discuss the benefits of doing a cost segregation analysis, explaining how it accelerates depreciation and mitigates the investor’s taxable income. He describes how changes to the 2017 tax code in made it useful for even small multifamily buildings to leverage a cost seg study and walks us through the advantages of taking bonus depreciation in Year 1 (versus spreading it out over the hold period). Listen in for Terry’s insight around the best exit strategies for avoiding a big tax bill and learn about the additional tax breaks you can earn with energy-saving renovations. Key Takeaways How Terry got into cost segregation analysis Work in energy space, introduced to idea by accountant Noticed gap between government, CPA and investor The benefits of doing a cost segregation analysis Way to accelerate depreciation (from 27½ to 5 years) Take advantage of time value of money Mitigate taxable income, 20-year carry forward What a cost segregation analysis looks like Breaks property down into component parts Apply depreciation schedule one by one How the 2017 Tax Cuts and Jobs Act changed cost seg Smaller properties qualify ($500K) Take bonus depreciation in Year 1 The process of working with Terry’s team at CORE Send purchase price/date and address Kickoff call to go over benefit analysis How much it costs to get a cost segregation analysis Varies by location, requirements 15:1 return on investment How to avoid a big tax bill when you sell a property Hold 3+ years to leverage time value of $ Impact lessened as value of assets reduced Buy new property same year to offset gain Why Terry advises taking bonus depreciation in Year 1 Can opt to spread out over hold period Investors carry forward losses if can’t use The Energy Efficient Commercial Buildings Deduction Incentivizes energy saving renovations Includes lighting, HVAC and building envelope Up to $180K in additional depreciation Connect with Terry Judge Core Solutions The Cost Seg Guy No-Cost Benefit Analysis Resources Tax Cuts and Jobs Act of 2017 IRC 179D Deal Maker Live What’s the Best Investment: The Stock Market or Real Estate? Nighthawk Equity Michael’s Mentoring Program Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

Two years ago, Will Harvey thought that only people with millions of dollars could own apartment buildings. And then he started listening to podcasts and reaching out to other entrepreneurs and real estate investors. Their stories broke the ceiling on what he thought was possible, and by the end of 2019, Will was able to quit his W-2 job and pursue multifamily full time. At just 26 years of age, Will is the Vice President of CEO Capital Partners, a real estate acquisition firm focused on multifamily. A veteran of the residential mortgage business, Will earned National Rookie of the Year honors in 2017 and operated in the top 5% at one of the largest retail lenders in the US. Now, he controls over $1.5M of real estate in Northern Virginia. Will is also the cohost of Wealth Junkies, a podcast dedicated to sharing the stories of successful entrepreneurs and liberating 1,000 people from the rat race. On this episode of the podcast, Will joins me to talk about how being hell bent on getting OUT of his W-2 job led him to real estate investing. We discuss how Will leveraged multifamily podcasts to turn his car into a mobile university, how he found his joint venture partners, and what steps he took to quit his 9-to-5 at the end of 2019. Listen in for Will’s insight on building the Wealth Junkies platform and get his advice on surrounding yourself with people who’ve done what you want to do. Key Takeaways How Will got into real estate investing Looking for way out of mortgage business Started with house hacking SFHs How Will got educated around multifamily Listening to podcasts (car = mobile university) Reach out to dad’s friends in real estate Will’s initial multifamily strategy Wanted to invest locally in Winchester Realized pond too small to find good deals Will’s insight on the value in joint venturing Accelerates progress to work together Play to strength in building relationships Will’s first deal through CEO Capital Partners Raise capital for experienced operator (cosponsor) Afforded team credibility with brokers The steps Will took to quit his job Lived well below means Refi one property, increased rent on SFHs Passive investment in multifamily Will’s take on what building a platform does for you Position self as thought leader Create funnel to capture info Raise capital beyond local investor network What Will would tell his younger self Think BIGGER Change I can’t to How can I _______? Why Will recommends listening to podcasts Accelerates learning Break ceiling of what thought possible Will’s vision of the next five years Expenses covered Continue to grow + scale Will’s advice for aspiring multifamily investors Seek advice from qualified people Connect with Will Harvey Wealth Junkies Email will@wealthjunkies.com CEO Capital Partners Resources Deal Maker Live Bigger Pockets Real Estate Podcast Corey Peterson CoStar LoopNet The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller with Jay Papasan Rich Dad Poor Dad by Robert T. Kiyosaki Trump: The Art of the Deal by Donald J. Trump with Tony Schwartz Syndicated Deal Analyzer Michael’s Platform Builder Framework Nighthawk Equity Michael’s Mentoring Program Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

What excuse are you using to explain why you haven’t gotten started with multifamily? Too young? Too old? No money? No experience? No time? What if those limiting beliefs are nothing more than a story you’re telling yourself to justify a lack of action? What if you could overcome those beliefs TODAY and take the first steps toward financial freedom? Rod Khleif is a multifamily investor, business consultant and high-performance coach with a passion for giving back. He serves as the host of the iTunes top-ranked podcast Lifetime Cash Flow Through Real Estate Investing and author of How to Create Lifetime Cash Flow Through Multifamily Properties, a must-read for aspiring investors. Rod has built several successful multimillion-dollar businesses, and he is known as one of America’s top real estate investment and business development trainers. On this episode of Apartment Building Investing, Rod joins me to offer insight on what’s really behind the limiting beliefs that keep us from getting started in multifamily and share his responses to some of the most common excuses aspiring investors give. We discuss the burning desire and positive expectation that successful investors have in common, and Rod explains how he deals with setbacks and challenges. Listen in for Rod’s take on the top habits of highly successful people and learn to leverage gratitude to succeed in multifamily real estate! Key Takeaways Rod’s insight on what’s behind limiting beliefs Stories we tell ourselves (circuit breakers) Justify lack of action Rod’s response to ‘I don’t have time right now’ Not important enough to you Priorities vs. time management Rod’s response to ‘the market is too hot’ Must really want it, be willing to hustle 500 doors under contract in 3 states Rod’s response to ‘I don’t have any experience’ Now = BEST time to learn multifamily Market correction will bring opportunity Why it’s crucial to celebrate progress Recognize growth as person More important than goals What successful people have in common Burning desire Positive expectation How to deal with the inevitable setbacks Exercise to mitigate stress Focus on what you want Surround self with right people The habits of highly successful people Take first step Commit to outcome Play to strengths Passion & influence Peer group Tenacity/grit Rod’s advice for aspiring multifamily investors Gratitude = most important emotion Remember why love life every day Connect with Rod Khleif Rod’s Website The Lifetime Cash Flow Through Real Estate Podcast Rod on Facebook Rod’s Multifamily Bootcamp Text PARTNERSHIP to 41411 for Rod’s Partnership Questions Text THINKING to 41411 for Rod’s Gratitude Prompts Text ROD to 41411 for Rod’s Due Diligence Checklist Resources Deal Maker Live Rod Khleif on ABI EP038 Rod Khleif on ABI EP088 Books by Napoleon Hill The Secret Hal Elrod on ABI EP165 The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod The 5 Love Languages: The Secret to Love That Lasts by Gary Chapman The Slight Edge: Turning Simple Disciplines into Massive Success and Happiness by Jeff Olson and John David Mann Three Feet from Gold: Turn Your Obstacles into Opportunities by Sharon L. Lechter and Greg S. Reid Tony Robbins Michael’s Mentoring Program Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group

What do the most successful among us have in common? The biggest of the big-name real estate investors and influencers I’ve had the pleasure to interview on this podcast share one thing—a mission beyond money. Yes, financial freedom is important. But without purpose, what’s the point? On this episode, I’m celebrating our 200th show with a highlight reel of the best Apartment Building Investing podcasts from the past year. We look back at my interview with Rich Dad Advisor Ken McElroy as he shares how his thinking has evolved around financial freedom and what it means to be successful, and return to my conversation with Robert Helms of The Real Estate Guys around his mission to both educate and inspire action. We revisit legendary entrepreneur and investor Robert Kiyosaki’s insight on spiritual discipline and bestselling author Hal Elrod’s take on the REAL purpose of setting goals. Listen in for marketing icon Kyle Wilson’s advice on building a platform and get inspired by billion-dollar investor and influencer Grant Cardon’s definition of true wealth. Key Takeaways What financial freedom means to Ken McElroy Initial goal to be own boss, cover expenses Scale business as expenses increase How Ken McElroy’s definition of success changed over the years From ‘job’ to ‘good job I really enjoy’ Shifted to focus on money, being millionaire Now involves relationships with family + kids What gets Ken McElroy out of bed in the morning Sense of purpose Desire to contribute The Real Estate Guys’ mission Put education to work via effective action Create community + collapse time frames The secret to Robert Helms’ success Recognize economic reality beyond real estate Understand other investing opportunities How Robert Kiyosaki learned spiritual discipline Marines focus on mission to bring fellow man home Business world only mission to make money Boundary of life + death gets in touch with God Robert Kiyosaki’s take on the three kinds of money Gold + silver = God’s money Government money = fake People’s money (e.g.: Bitcoin) Hal Elrod’s insight on the REAL purpose of setting goals Develop qualities + characteristics of goal-achiever Growth on journey more important than hitting target Hal Elrod’s take on why traditional affirmations don’t work Taught to lie to ourselves, use passive language Affirmation must be paired with action Kyle Wilsons’ insight on the principles of marketing Provide great product, customer service Be consistent + relational Kyle Wilson’s must-haves for a website Mystique Taglines Social proof Creative opt-in What gets Grant Cardone out of bed in the morning Build legacy for family, church + community Produce something of value = live forever Grant Cardone’s definition of wealth Money, time, love, health, fun and PURPOSE Keep learning to contribute on another level Resources Enter to Win a Free Copy of Michael’s Book Michael’s Ultimate Guide to Apartment Building Investing Ken McElroy on ABI EP133 Robert Helms on ABI EP156 Robert Kiyosaki on ABI EP160 Hal Elrod on ABI EP165 Kyle Wilson on ABI EP184 Grant Cardone on ABI EP188 Warriors Heart Jim Rohn Zig Ziglar Chris Widener Ron White Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group