66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank
On today’s show, we sit down with real estate entrepreneur Michael Blank to talk about his journey from a successful house flipping business and his entrance into apartment buildings… and the systems needed to run his investments well.
Michael is a business entrepreneur through and through and today we get to talk about everything from getting started, investing with no money, working with (and as) a wholesaler, and even hear the story of the professional tenant that almost destroyed Michael’s investment career!
This show is packed with useful, actionable tips, so don’t forget your pen and paper on this one… you are going to need it!
In This Show, We Cover:
- How Michael started his investing journey by flipping dozens of houses per year
- Why building up a network of wholesalers is important
- How Michael raised money to fund his flipping
- The “magic question” to ask when raise private money
- Michael mistakes and successes when getting started
- Developing a great real estate team
- Using virtual assistants in your business
- Michael’s transition from flipping to apartment complexes
- Michael’s tricks for finding great commercial real estate deals
- Michaels take on the topic of rent control
- Michael’s major mistakes in his REI career… and that one tenant in DC
- And so much more!
Links from the Show
- BP Podcast 033: How to Close 27 Deals in Your First Year While Working Full Time with Sam Craven
- eLance.com
- Loopnet.com
- Marcusmillichap.com
- Cbre.com
Tweetable Topics
- “Cutting corners hurts you and your business at the end of the day.” (Tweet This!)
- “When you have a good team, firing on all cylinders, you can do amazing things.” (Tweet This!)
- “You get what you negotiate.” (Tweet This!)
- “The secret to success is to be intentional.” (Tweet This!)
Books Mentioned in the Show
- Rich Dad, Poor Dad by Robert Kiyosaki
- Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal by Oren Klaff
- The 4-hour Workweek by Timothy Ferriss
Connect with Michael!
- Michael Blank’s BiggerPockets Profile
- TheMichaelBlank.com
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