The Housing Market Is About To Change Forever (Here's Why) | Mikey Taylor
Wealthy Way
Ryan Pineda
4.8 • 2.1K Ratings
🗓️ 16 February 2024
⏱️ 86 minutes
🧾️ Download transcript
Summary
Learn more about the future of real estate investing with Mikey Taylor, a former pro skateboarder turned successful investor, as he and Ryan share valuable insights into raising money, navigating market concerns, and building a solid financial foundation, offering essential wisdom for anyone looking to thrive in the real estate market in 2024!
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Connect with Mikey!
Instagram - https://www.instagram.com/mikeytaylor/
YouTube - @mikeytaylor
Mikey was a pro skateboarder turned real estate investor. He didn't earn much as a pro skater, and the income wasn't as steady as he desired. Adopting a frugal lifestyle, Mikey saved diligently and, once he accumulated enough, delved into investing. He developed a passion for raising money and repaying investors, key aspects he wanted in his new business. Currently, Mikey invests in multi-family properties, storage, and private investing.
In a conversation with Ryan, Mikey shares insights into how raising money works, drawing from their own experiences and advice received from prominent developers worldwide.
Addressing ongoing issues in the real estate market, Ryan and Mikey highlight two concerns: supply and cash flow. Supply remains low across all real estate sectors, and with current interest rates and prices, cash flow doesn't align favorably for investors. Mikey anticipates that cap rates and interest rates will resolve themselves within the year, but he expresses concern about the persistent supply issues. He hypothesizes that entrepreneurs and technology will play a role in solving this problem, citing innovations like 3D printed homes.
Contemplating the scenario of deflation and an excess of new homes due to technological advancements, Mikey emphasizes the cyclical nature of real estate, assuring that such issues wouldn't be long-term concerns. Ryan envisions a future where advanced technology could lead to widespread homeownership.
Ryan and Mikey engage in discussions about risk levels and strategies, emphasizing the enduring value of skills, relationships/resources, and faith in the face of potential losses. They ponder how individuals spend their discretionary time, pointing out that, in a world with only 24 hours in a day, attention has become a valuable currency.
Focusing on his business in 2024, Mikey is also actively involved in his city council in Thousand Oaks, CA, working to address the city's needs. Mikey anticipates a favorable year for raising money in 2024 but advises that seizing opportunities requires a solid financial foundation. The conversation delves into other variables influencing the real estate market this year, providing valuable insights for those looking to stay informed.
Transcript
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| 0:00.0 | I know that in 50 years people are going to be able to get housing for stupid cheap |
| 0:03.7 | everyone will own a home because there's already 3D homes that could happen in a day. |
| 0:06.8 | A 150 unit apartment in two days built in China. |
| 0:09.7 | No way. Fricking psycho. Like what if there are all of these innovations that now create an |
| 0:16.0 | over supply of real estate of properties that are cheaper and better? |
| 0:20.3 | Interstate treat it they're going to come down or cap rates are going to continue to go up. One of the two have to give. better. In |
| 0:28.0 | It's either going to come down or Caprais are going to continue to go up. |
| 0:23.4 | One of the two have to give. |
| 0:24.6 | What do you think is going to happen going forward? |
| 0:26.8 | How does this get solved? |
| 0:27.8 | I think you're going to see more and more of those a- |
| 0:30.3 | shit. |
| 0:31.3 | What's going on well-bears today? I got somebody who has a very similar path to me. |
| 0:36.2 | This man started in pro sports, not baseball, but pro skateboarding, which is super |
| 0:41.7 | dope. He then got into real estate |
| 0:44.3 | and has built a private equity firm |
| 0:46.8 | with over $250 million worth of assets. |
| 0:50.1 | Then he started getting into the social media game and now is blowing up everywhere giving great financial advice. |
| 0:56.3 | So obviously there's a lot in common with this man and I'm super excited to have him here. |
| 1:00.9 | I got Mikey Taylor. What's up? What's up my man? And then I also found |
| 1:04.4 | out you know we're both avid golfers. Yeah. And Christians and we have a lot |
| 1:09.2 | con there's it's scary the crossover we have. Yeah. Families, kids, |
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