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BiggerPockets Real Estate Podcast

818: From 16-Year-Old Skater to Investing in “Cash Machine” Kmart Conversions w/Mikey Taylor

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 14 September 2023

⏱️ 69 minutes

🧾️ Download transcript

Summary

Cash flow “machines” is how Mikey Taylor describes his most recent investments. To the non-investors, the numbers seem too good to be true. But Mikey has repeated this system, again and again, to make millions of dollars off of “boring” investments that most investors overlook. What “cash machines” is Mikey referring to, and how do you go from making $800/month to millions of dollars like he did? Mikey has no degree, full-time job, or wealthy parents to hand him an inheritance. At sixteen, Mikey made it his mission to find sponsors for his skateboarding career. What started as a hobby grew into a profession, but Mikey knew it wouldn’t last. After searching for some other income to support him when his career finally ended, Mikey conveniently stumbled upon real estate—and the rest is history. Since ending his skateboarding career, Mikey has built a brewery, invested in multiple BIG multifamily deals, and started buying the “cash machine” properties so many investors WISH they could get their hands on. If you want to know the strategy behind these bold moves and how you can go from barely scraping by to financial mastery, like Mikey, this is THE episode to watch. In This Episode We Cover The “cash machine” real estate investments only few investors will buy What REAL passive income looks like and how to start building your income streams today Starting a brewery from scratch and selling it for an almost unbelievable profit The “blue ocean” real estate deals many are too scared to touch Converting Kmarts into self-storage and how much money Mikey makes off of each How to avoid lifestyle inflation when you start making big bucks (so you can invest the rest!) And So Much More! Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-818 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Recorded at Spotify Studios LA. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the Bigger Pogas Podcast.

0:02.0

Show 818.

0:04.0

First question we ask is,

0:06.0

do we want to own this thing for the next 10 years?

0:08.0

And is there a demand to own this thing for the next 10 years?

0:10.0

But a lot of times we go,

0:12.0

oh my gosh, I'm going to buy it now and what are

0:14.0

interest rates and cap rates going to do in four years

0:16.0

and it doesn't matter.

0:17.0

As long as there's nothing to force a sale in your time horizon,

0:20.0

if you have the demand, it's staying odd

0:22.0

but you're cash flowing. Who cares?

0:30.0

What's going on everyone? This is David Green, your host

0:38.0

of the Bigger Pogas Podcast.

0:40.0

Here today with my co-host and frequent flyer on the podcast,

0:42.0

the handsome Rob Abasolo.

0:44.0

We've got a banger for you as Rob would say.

0:48.0

It slays, it's fire.

0:50.0

What's all the other stuff that you're always trying to sound cool to say?

0:52.0

It's slaps.

0:54.0

Slaps, yes, that's it.

0:56.0

Today's show slaps with Mikey Taylor,

...

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