66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 17 April 2014

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast Show 66.
0:05.0	You're listening to Bigger Pockets Radio,
0:08.0	simplifying real estate for investors large and small.
0:11.0	If you're here looking to learn about real estate investing without all the
0:14.9	height, you're in the right place. Stay tuned and be sure to join the millions of others who have benefited
0:21.2	from bigger pockets.com.
0:23.6	Your home for real estate investing online.
0:26.7	What's going on everybody?
0:27.8	This is Josh Dorkin, host to the BiggerPockets
0:30.7	podcast here with my co-host dressed in a fancy coat Mr Brandon
0:36.4	Turner what's up Brandon why you all decked out in that woolly willy coat there
0:40.8	well we had like spring for like five minutes but it's gone already.
0:44.1	Oh, I'm so sad for you. Yeah, fat guy in a little coat. Hey I tell you what man it was earlier in the week, it was 77, and the next day it was, that night, it was 17 degrees,
0:59.4	and I had turned my sprinklers on, and my entire, like, I forget what it's called but this one of the sprinkler
1:05.8	assemblies in the morning had exploded and there was water shooting all over my
1:10.4	my front lawn thank God for my neighbor who laughed at me.
1:14.4	Well, besides that, how are things?
1:18.2	Things are good, man.
1:19.6	Things are good.
1:20.6	Working out of the new office here in Denver loving that it's it's going well so
1:24.8	bigger pockets headquarters is is fun is fun yeah how about you what it what's
1:30.7	going on all well all is well I'm almost done with my fence so my dog can no longer escape
	...

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