Achieving Financial Freedom Through Apartment Building Investing With Michael Blank

MLM 308 | Apartment Building Investing

To truly achieve financial freedom, it doesn’t matter how much your salary is but how much passive income you have. Today, Jen Du Plessis introduces real estate investor and bestselling author of Financial Freedom with Real Estate Investing, Michael Blank. Michael is a leading authority on apartment building investing in the United States. In this episode, he talks about how to achieve financial independence and control your time through apartment building investing. Whether you’re a new or a veteran investor, tune in to learn how to better invest with real estate.

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Achieving Financial Freedom Through Apartment Building Investing With Michael Blank

I am delighted to have Michael Blank with us. Let me tell you a little bit about him. This is so exciting because whenever I get the chance to speak with a real estate investor, it’s right up my alley. It’s stuff I love to hear about and love to do. He and I were talking. He’s from Virginia originally outside of Washington, DC, right up the road from where I’m at, technically 30 miles but right up the road from me. He’s a real estate investor and the best-selling author of Financial Freedom with Real Estate Investing. You want to tune in. He’s a speaker and leading authority on apartment investing in the United States. I loved that. He’s the CEO of Nighthawk Equity. I loved the name. I have a company called Black Fox Investments. He’s the host of the Financial Freedom with Real Estate Investing Podcast. Welcome to the show, Michael. We’re delighted to have you here.

It’s great to be here.

Thank you. Let’s dig in on how you got started. One of the things that most people ask about real estate investing is because you know, I know and most of our readers know is that there’s a lot of wanna-be investors. There’s a lot of money spent on going to classes, courses, gurus and all that and no action is taking taken. Give us an idea of how you got started in this.

It doesn't matter how much your salary is. What matters is how much passive income you have. Click To Tweet

I read Rich Dad Poor Dad in 2004, and I always consider myself a relatively smart person until I read that book, and I was like, “I’m such an idiot.” It doesn’t matter how much money you have in the bank and what your salary is. It matters how much passive income you have and I had, basically none, and that shook me to the core. The problem with the purple book is that it doesn’t tell you how to get financial freedom. It uses words like real estate investing and cashflow business and that’s about the extent of it. The reader is left to figure out, “How am I going to do it?”

When I read that book, I made it my mission to get this financial freedom and I did a bunch of stuff to try to get it. It took me ten years to figure it out and in the meantime, I lost everything I had. Almost my house in the pursuit of it. At the time, I had a bunch of money because I was part of a software IPO. The company I joined in the late-‘90s put a bunch of money in my pocket. Therefore, I had a runway to experiment with. I learned how to trade stocks and options. I flipped a couple of houses. I took an apartment boot camp in 2006 but my big idea was restaurants. Do you know the Five Guys burgers? They came from Boulder, Virginia and I was around some of those franchisees and they’re like, “You’re hiring a guy and you’re printing money.” I’m like, “I want to print money. This is great.”

Five Guys were sold out at the time so I got into a pizza franchise and I went all in. I was like, “This is my ticket to financial freedom.” I went all in and it worked great for about two and a half years until the recession came and that changed everything. It kicked my butt bad. I was in a pretty deep hole and then I remember the real estate investing stuff and started flipping houses. I was raising money to flip the houses and this was in PG County, DC and Baltimore.

MLM 308 | Apartment Building Investing

Financial Freedom with Real Estate Investing: The Blueprint To Quitting Your Job With Real Estate – Even Without Experience Or Cash

That was the journey until I accidentally got into an apartment building in 2011. One of my flipper wholesalers got me this deal. It was listed by a real estate agent and I ended up buying it. That was my first syndication where you get money from investors. I had five investors and I bought this thing and it was a nightmare.

I immediately regretted getting into it because I had a professional tenant in there who had made my life miserable and hell. It took me about 12 to 18 months to stabilize that and then I went on happily flipping houses. One day I was like, “This is insane. I’m trying to get out of these restaurants. I’m flipping houses. I’m working 80 hours a week. This is nothing passive around any of this stuff.” There’s a cashflow business in real estate and I’m killing myself.

It’s like running around monopoly without the hotels.

There was no financial freedom in there at all until I was like, “Maybe I should stop selling houses. Maybe hold on to them. That sounds like a good idea. I can maybe cashflow $150 a month per house. If I want $10,000 a month in income, I’m going to need a lot of houses.” I got done flipping three dozen. I’m like, “I’m not doing that.” That is no way I am accumulating a portfolio of 50 houses.

Finally, I was like, “I probably need more of these buildings and stop flipping these houses,” and that’s when I mentally took a shift. At that point, I’m seven years into my journey. I wasted so much time, money, energy and it was a giant waste. Now we have a much more direct path to financial freedom and it is with apartments. It surprises a lot of people because people think it’s an advanced strategy. You need a lot of money for it and it’s not true. We were using that as our platform to accelerate financial freedom whether you’re an active investor or a passive investor.

You have partnerships that you’ve created. For some people, it’s an investment of money, others investment of time and putting those apartments together. I know someone that is big in this, Grant Cardone. He’s doing this at $50 million and $100 million level in apartment buildings, accumulating investors and doing all of that as well. When you started doing this and because obviously, apartment buildings are different types of lending features. Unless you’re able to pay cash for it by pulling all these people together, it’s a different type of lending. How did you embark on that?

I think that’s one, not boundary wall that people hiccup or speed bump that people run across as if they don’t have the experience in the commercial side and therefore the banks tend to say, “You don’t have the experience in it but bring in another investor who has the experience then we’ll talk.” How did you get past that? Because that becomes the hurdle that most people then say, “This is too big for me. I probably shouldn’t be doing apartments. I’ll go back to the ones the choosy investor.

The experience is not so much on the lending side as much as on a lack of belief side. It’s like, “I don’t have the experience, therefore, I can’t do it.” The lenders, interestingly, when you get to commercial real estate is they typically tend to underwrite more of the actual commercial real estate unless who the people pouring it. Do they look at your credit score? Yes. Do they look at your net worth? Yes.

If you don’t have the net worth and liquidity requirements is it possible that you won’t qualify for the loan? Yes but it’s easy to fix in that perspective because you can partner with people. There are plenty of people who are high net worth individuals who will simply sign on the mortgage and the note with you because the risk is so low and a lot of these loans are non-recourse. You don’t have to personally guarantee them.

A lot of times, especially in the beginning, your purpose is not going to be a moneymaker. That's why we have jobs that we maybe don't like as much. Click To Tweet

If something were to go bad, the guarantors are not going to lose their house, their cars, their kids and their dogs. They’re going to take the building back versus a house, you’re personally guaranteeing a mortgage on the house. If I’m co-signing with some knucklehead, I’m like, “I’m not so sure,” but on a commercial property a lot would have to go wrong and they would have to be fraud committed for someone to go after you personally.

The risk factor is a lot lower on the lending side but it’s more on the belief side is the issue because a lot of people think, “This is building. I need all this money and all this experience. I know. Let me invest for 5 to 10 years in single-family houses and then I’ll take that real estate, that experience and the money I make and I’ll graduate. It’s not a bad plan but it’s an unnecessary plan.

I love that you’re saying that because those that are reading on this are saying, “How can I make an impact in my business and my life and help others as well.” I want to ask you a couple of other questions relative to what propels you to do this? I understand that you read Rich Dad Poor Dad and Sharon Lechter who is a very good friend of mine, who wrote the book. I know that we all want this financial freedom and I consider flipping houses to be the S on the left side because you’re trading time for money.

You always have to be hunting for the deal and that’s why we’ve always done buy and hold for that very reason. I know that you want that financial freedom but there’s got to be another passion that’s deeply embedded into why you want to serve people that are underserved in the apartment building or rental area. Why do you want to be a landlord? I do think that as a mindset. You can’t want the money. You’ll hate it.

When I read the purple book in my mind, it was about money. Yes. I was trying to take care of my family but it’s an extension of me. That’s where it started. I think anytime you think about money, it’s a very superficial why. It’s not going to get you through the difficult times that you have. For me, I was fixated on this $10,000 per month. I never bothered to ask this question like, “You have this money. Great. Good for you and now what?”

This is something I had to learn and I only learned this at the depth of my misery when I was in 2012 when my restaurants are losing $20,000 a month. I’m sitting in the corner sucking my thumb. I’m like, “Why am I on this green Earth?” This is where I got a very strong conversation with God and I’m like, “Why did you put me here? You made me quit my job and now I’m in this position.” I got a strong impression that I was going to share with others my journey to financial freedom as misguided as it was and figure out that the more direct path because my conclusion was that financial freedom is to a large extent and a precursor to significance.

MLM 308 | Apartment Building Investing

Apartment Building Investing: Real estate is a great inflation hedge like gold, except it has cashflow.

 

Meaning that if you are working 60 hours a week, it’s very difficult for you to figure out your purpose in life and more importantly take action towards that purpose because a lot of times, especially in the beginning your purpose is not going to be a moneymaker. That’s why we have jobs that we maybe don’t like as much but our true purpose is over here being a school teacher, doing non-profit work, inner-city work or whatever the passion is like art. I don’t care.

Whatever it is but I can’t do it because I have to provide for my family and this frustrates people. My part of the solution is let’s help people become financially free with something that literally gets you financially free in 1 to 2 years and has the widest application to people regardless of who you are, what your background is, what your resources are, who or any of that and that is apartment buildings. It’s a surprising thing that people are like, “It’s a super-advanced strategy.” Let me tell you, it’s not nearly as advanced as you think it is.

It became something for you as, “How can I make a significance in the world?” It’s funny because that’s exactly what my whole path has been. I think what we do is we learn, we earn and then we want to return some way. If we earn in a great way and we use everything that we’ve earned smart and we don’t buy $70,000 watches and accumulate then we have the opportunity to give back to people another way. I want to ask you a couple of questions about your book about what you think is the best advice you’re giving in the book.

I’m reading this and I’m going like this. “He’s saying that this is easier. Come on. It can’t be that easy.” I know you’re saying it. I hear that from a lot of people. Let’s say I have $10,000. Can I do anything or do I have to have $100,000 because now someone’s reading and they’re thinking, “I’m going to make this difference and make this change in my life.” What do I need? Thinking about the book and that question at the same, what’s the number one advice you want to give to someone?

The number one advice is that you should strongly consider investing in apartment buildings. That’s number one. The two main objections I hear from people are that, “This is great, Michael. I get the cashflow, the wealth and the tax benefits but I don’t have the money. I don’t have the experience.” It boils down to that. The first part of the book deals with that straight on because I can teach you how to analyze deals, find deals and talk to brokers. You’re not listening to me because you can’t move past that.

What I can tell you is it’s surprising how quickly you can overcome both of those things. It is shocking to people. Meaning that the money part you can overcome by raising money from individuals and these individuals has a problem which is called the stock market. They invest in a stock market and they’re frustrated by their inability to plan long-term because of the volatility. They can’t get cashflow from it so they can’t retire and become financially free.

Linear and I pay too many taxes. You’re educating yourself. Real estate syndications solve all those. Once you know how it works, all you’re doing is you’re educating people around you and these investors with money, they will lean in because those are exactly the three problems that they’re struggling with on the financial side and you appear to have a solution. It’s a matter of educating people and in so doing, you’re adding value to people. You’re not begging them for money. You’re adding value to them. What I’m saying is raising capital is surprisingly easy especially in this environment with so much cash.

It’s cash and there’s so little being paid with the cash that people are looking for other vehicles. From my perspective, unfortunately, they’re all jumping into Bitcoin because they hear that’s cool and NFTs. I think all those are wonderful and I have both but a little bit of both. Not a lot of both.

The second objection is experience. I don’t have the experience. This is where people say, “Let me flip a house and landlord a little bit to get some experience.” It’s not a bad plan. It’s better than 98% of other Americans but it’s unnecessary. In other words, what you need to appear more experienced is you need to educate yourself a little bit so you’re using the right language and you’re delivering it with some amount of confidence. You need a little education but you need education anytime you pick up anything else.

You got to use the right word. When you’re talking to people, they all go, “He’s not a newbie. He seems to know what he’s talking about.” Number two and this is the difference from single-family houses is you got to build a team. On your team, you have a lender. You have a property manager, you might have an attorney, a CPA and a property manager. When you call brokers or talk to investors, you talk to them in terms of your team.

Now the focus is not on you and your lack of experience. It’s much more on your team. If you’re a property manager, for example, who managed those 5,000 units, while you’re talking about your manager who manages 5,000 units, not me who has never done a deal before. If I have a lender, they’ve done $1 billion of loans. They’re not even talking about me and now they’re like, “You’re pretty serious.” You’re using the right word.

You’re going, “I’m seriously not experienced and not afraid.”

What I’m saying is you can overcome both your lack of money and your experience within a matter of 60 to 90 days and you have a degree of confidence. You have learned the art and science of raising capital. Now, you can buy an apartment building. You just got to pick your favorite size. If it’s a duplex, buy a duplex. If it’s a 50-unit, buy a 50-unit. At the end of the day, it doesn’t matter because of the progression of the deals.

It’s a lot of return. It’s compounding. It’s scalability. I’m going to go back to the question. How much money does someone need to do this? If you’re doing a duplex and you’re doing a duplex in Baltimore near the inner city, you probably could get away with $10,000 plus maybe another to help you.

Pick your favorite entry point. The reason I said it doesn’t matter is because of the law of the first deal. It’s something I coined in the book and it’s a fascinating phenomenon because of the progression of the deal. If you buy a duplex, the second deal is going to be around ten units. The third deal is going to be around 25 units and then the fourth deal is going to be between 50 and hundreds and this is for a variety of different reasons. It just is. I’ve literally not found a single exception to the rule. As long as you approach a duplex from a multifamily mindset because there’s a lot of landlords who buy a duplex or even quad because they have a single-family mindset.

The point is you got pick your favorite entry point but once you wrap your head around the fact that you can buy something with other people’s money. If you can do that, it’s a matter of how many people can you talk into investing with you. If it’s two people, you get $100,000. What can you buy with that? Then you buy that. You might be able to talk five people into it like I was able to do and that’s $250,000 now I can buy $1 million buildings. It’s a twelve-unit in DC. Now you can joint venture with people.

Let’s say you have a deal. There is someone like you, who basically hates the idea of finding and analyzing deals because they hate spreadsheets but what they love are relationships and networking and they’re focusing on raising capital and their biggest problem is they don’t have the deal. There are people like that out there. If you have a deal now of 50 units or 75 units, you needed $3 million. There are guaranteed 1 or 2 people that are dying for a deal that you might have. Therefore, why limit yourself to a duplex when you know that you’re one relationship away from a 50 or 100-unit.

The two main objections you hear from people about investing: they don’t have the money and they don’t have the experience. Click To Tweet

It’s like go bigger, go home. If you’re going to spend the time and energy just do it. I don’t know that this is big but our first multifamily was nine units and we thought, “We’ve arrived by nine units,” and then we went to 21. That’s exactly what you’re saying is there seems to be some type of progression. I have a couple of questions about what you’re seeing in the market because we’ve seen a lot of people coin as a softening in the market. I don’t see that. I see it as going back to normal after what happened with COVID but we also have forbearance issues.

There’s a lot of single families that could be potentially coming up for some type of foreclosure and I know me as an investor, I’m getting myself prepped to be able to walk into that market. I bought an auction house in Illinois. We’re in the process of reselling that. I’m holding the note. It’s passive income. Where do you see the multifamily market or apartment building market coming and what do you see as what’s coming up? I know that some people may be thinking, “Is it too late?” because I’m asking the questions they’re thinking.

I get a very common question. One of the things that I like about multifamilies specifically is how recession-proof it is. If you look at the way it performed in 2008, it was amazing how low the default rate was in 2008 from multifamily buildings. COVID was a fantastic test of the asset class. People were sitting there biting their nails going, “What’s going to happen? Are people going to stop paying rent because there’s an eviction moratorium?” What was interesting is they did not stop paying. They chose to pay. It’s because of the uncertainty in the world around their health and their jobs, the one thing they can control is their housing. They paid the rent.

There’s always a portion of people who can’t pay the rent in any market. That’s different but the majority of tenants paid their rent. It was surprising to see collections be very consistent with what we had before. We had to change the way and we had to communicate with tenants. We had to remind them that they owed rent even though we can’t evict them, that once we could, we would go after them and they needed to pay. They go, “I didn’t know that.”

It’s like forbearance. A lot of people don’t know that’s going to happen too.

The government stroked a bunch of checks to everybody and then there are these PPP loans, which we got some benefit of that and then there are direct loans where the government literally paid people’s back rents. We got tens of thousands of dollars from the government directly to us for any background debts the tenants may have owed. It’s staggering. Our collections were unbelievable. Coupled with this inflation we’ve had, our rents are up like 10% across the portfolio. I don’t know if you’re seeing the same thing.

I’ve doubled the price of my Airbnbs.

You’re seeing it all over the place. Looking back, it was amazing how resilient the asset class was. The next question becomes, “That’s great, Michael. It seems like the prices are pretty high. It was seemed to be some bubble. Should I wait for this one out?” Which exactly what happened in 2008, which was an actual bubble but I don’t think we’re in a bubble because the fundamentals are completely different than they were in 2008.

In 2008, you could buy a house, hold it for 21 days and sell it for $30,000 profit with nothing having changed whatsoever, except that everybody wanted to get into real estate. Now, that’s changed. The fundamentals are that we’re an inflationary environment. Everything’s going up, number one and number two, due to that, I can’t build any more affordable housing because it’s too expensive.

You can’t build anyway so someone who can’t afford more than $700 a month in rent is not going to go into some new apartment building that costs $2,000. This is not going to happen. There is limited supply in an ever-increasing demand for affordable housing especially with COVID when people started moving into the Southern part of the country.

Now, you have a limited supply in Atlanta, Huntsville, Austin and everybody’s moving in this area. The prices are going to go up and people can afford it because their incomes have been going up also. Therefore, as I’m looking into it, prices are going to continue going up. Maybe not as much in the past, maybe we’re only going to be at a 4% or 5% inflation but they’re going to go up nonetheless and with it, the value of this real estate, which is why I love real estate is a great inflation hedge like gold, except that it has cashflow.

MLM 308 | Apartment Building Investing

Apartment Building Investing: If you want $10,000 per month, just buy $2-million apartment buildings every year.

 

Thank you for sharing your thoughts on that. I agree with you too. That’s why I said I’m getting myself prime to go after. All of our ducks in a row, we’re creating some new LLCs. We’re doing all of the actionable items that we need to do to take action to grow our portfolio. The second thing I want to ask you about is commercial space because, with COVID, people have withdrawn from that. They’re not going back into it.

I know that it’s pretty inexpensive to get an office building. What are your thoughts because this is what my thought is? Let me ask you, “Do you concur and what do you think about it?” I think with the shortage of housing that we’re going to see a transition in commercial, into converting it into apartment buildings and into different spaces and that’s going to open up a lot of doors. What are your thoughts on that?

It’s a possibility. We’ve already seen it with hotels, even in, for example, Tysons Corner, they were converting to Sheraton. This is a luxury high rise in the middle of Northern Virginia into apartment senior living and that stuff. You’re seeing more of that. In fact, a part of the strategy is some of our students, for example, and people who have been converting hotels into apartments. These are especially ones that have kitchens in them and things of that nature.

We’re already starting to see some of that. The question is sometimes you swing the pendulum too far over. Everybody’s moving into the suburbs and you go run in and buy a bunch of stuff in the suburbs and then three years later we’re like, “I miss walking everywhere. I’m going to move back to the city.” Converting stuff and changing the use of it, to me, is an advanced strategy. You got to understand zoning, permitting and all that stuff but with a shortage of housing, it’s something that you need to look at first for sure. You see them more than the last years never before.

I don’t necessarily suggest anyone reading that doesn’t have experience says, “I’ll go into doing that.” I’m thinking more that the conversion will be happening by the developers. The developers will start doing that and then we can buy those types of places. I’ve seen a lot of that even in the malls. I’m now starting to see that that’s being transferred. Transitioned and converted, although I think they need to be torn down and put more housing up instead because nobody’s going to the malls anymore. It’s an interesting concept in there.

As we look to close out our time here. This has been fascinating because it’s something I like to look at. This is where everything in the show is about transition, taking action and learning. It’s professional and personal development. I know that you offer some classes for people. Tell us a little bit about the structure if someone’s listening and says, “I want to get involved in this. I do want to take action. I have some cash and it’s been sitting dormant. This is a great way for me to get started and I can attach myself to Michael.”

I don’t want to sell anyone anything. The biggest thing is like you said, “Educating yourself a little bit.” Two great ways to do that is to look at the book it’s called Financial Freedom with Real Estate Investing and the podcast has exactly the same name. Look into both because it gives you the foray into the whole world of real estate syndications.

What I’m trying to do is I’m trying to lower the bar from people and their minds of how accessible this is and it’s not an advanced strategy. If you’re interested in investing, we have a report called What’s the Best Investment: The Stock Market or Real Estate? You know the answer to that already but in that report, we talked about syndication specifically. You’re not buying a townhouse but you’re buying syndication. You’re passively investing and that’s at TheMichaelBlank.com/report. If you’re more passive-minded, that’s probably the best entry point and once you go like, “This is for me.” At that point, you can say, “Maybe I can invest more in my education,” and we have stuff for that as well but that’s a little bit down the road. Education is probably the first step.

What you’re saying is go to the pool and then assess before you hop in, before you even put a toe in. Don’t come into the pool. This is the whole investor wannabes. They start jumping into every type of thing that they hear about and they don’t always succeed in all of those things and say, “I’ve tried it.” For example, my son is an options trader. That’s what he does and he has a company that coaches people on options trading and he firmly believes in it but guess what? He also owns a ton of real estate. It’s the diversification to be able to create the wealth that you’re looking for. As we tidy up our time, tell us a little bit about your mantra. What do you want to leave us with? A mantra, a quote or thoughts on how to achieve this financial freedom?

I would say take some time to create clarity for yourself. I’ve studied this now when you said, action taker. Why do some people take action while I don’t? It’s because there was either great clarity or a lack of clarity. I was guilty of this myself. I read the purple book and I’m an action taker and I was like, “I’m going to take some action. I don’t care what it is as long as I’m taking action.” It would’ve been better had I taken a little bit of time to think about what I’m doing. If I hadn’t played this forward and I thought about the restaurants and what’s involved in the work, the downside or same thing for flipping houses. What lifestyle would this produce even if I were successful?

I had not done any of that. I would have gone, “I don’t know what it is but that’s not it.” Therefore clarity means, what do you want in your life? What do you not want? Financial freedom is one of those things. It’s not a dollar figure though. It is a financial-economic thing. It’s financial freedom. What does that mean to you? If you could achieve it, what difference would that make?

How would that make you feel? What person would you become? What impact could you make? When you become clear around that, it now gets you excited and you now are naturally propelled and want to take action because you’ve now tasted what that future might look like and now the action is inevitable. You got to figure out what strategy you got to do it but it’s the clarity that most people don’t spend the time doing. That is a missing link between inaction and action is to create clarity for yourself.

It’s so true. Sharon is a friend of mine. I’ve had the beautiful luxury of being on her ranch and learning the cashflow quadrant directly from the person who created it. One of the things that she says and I want to point this out is because you talked about this and by the way, I talk about clarity all the time. It’s the first C in the five Cs of Cracking The Top Producer Code that I do in my coaching and it’s about clarity. It’s like, “What do you want?” It’s simple but I want to bring it to the forefront because financial freedom for most people is a star in the skies. Like way high up there in the skies and this is why people don’t take action.

Financial freedom is when your passive income is equal to or greater than your job. That’s financial freedom. If you make $70,000 a year and you can replace the $70,000, that’s financial freedom. It doesn’t have to be millions and millions. This is why people don’t have clarity and why they don’t take the action because it’s so unattainable in their mind’s eye because of the lack of clarity that they have to have millions.

This is something that she’s now talking about all the time and she addresses this in her book. I can’t think of the name of it but it’s something with the devil. In her book, she’s wrestling with the devil or something like that and it’s about the evil of money. This is something that people need to understand is that you don’t need advanced strategies. It’s that simple and if you have that clarity of what financial freedom means to you. Not what it means to Michael, to Joe Blow or to somebody else. What does it mean for you is so much easier to take action because the gap is not as big as you think it is. That’s why you’re saying people can get this financial freedom in 1 to 3 years.

That’s right because not only the cashflow but you get these acquisition fees. It’s like a commission but you don’t need a license for it and they can be substantial. There is 3% of the purchase price. If you syndicate $1 million building, that’s $30,000. Now you said $70,000. Here’s the rule of thumb. If you want $10,000 per month, buy $2 million apartment buildings every year, roughly, which is not much because you’re raising money and you have partners. $2 million a year and that’s $10,000 a month in income. A lot of people can do that within 12 to 18 months. It’s unbelievably powerful.

Some people take action while others don't, and it all boils down to clarity or the lack of it. Click To Tweet

I love that you said clarity. Thank you so much for doing that. You chopped it right down in the most simple way. You even said, “To buy a $2 million place, I need $250,000. I need 2, 5 or 12 people. Whatever that number is, that’s what you want to go in and try to figure out. If you want to buy that big one first, I think that’s wonderful.

Michael, thank you so much for sharing this. I am excited. I hope that you’re sending me a copy of the book so I can read the book as well because I love learning all the time. I know that this is going to make a significant impact on people and that’s what this show is all about. It is taking that action, knowing that these are the transitions that you’re trying to do to make a significance in your life, your family and in the world, if that’s what you’re trying to do. Thank you for embarking this information to us. We appreciate it.

Thank you for having me, Jen. Thank you for what you’re doing to mobilize your readers to take action. We need more of you.

Thank you very much. I want you to know that you can connect with him, follow him, learn from him, and thank you for taking the time to read this blog. Don’t forget to give us a great five-star rating and please take the time to write a couple of sentences of a review. It keeps us going. I love reading those reviews. Thank you for your time, Michael. I appreciate it so much. We’ll catch you on the next episode.

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About Michael Blank

MLM 308 | Apartment Building InvestingMICHAEL BLANK (Ashburn, Virginia, outside Washington DC) is a Real Estate Investor, Bestselling Author of “Financial Freedom with Real Estate Investing”, speaker, and leading authority on apartment investing in the United States. As the CEO of Nighthawk Equity, Host of the Financial Freedom with Real Estate Investing Podcast, and Columnist, Blank’s passionate about helping people become financially free in 1-3 years by investing in apartment building deals and raising money. Through his investment company, Nighthawk Equity, he controls $200M in multifamily real estate. In addition to his own investing activities, he’s helped students purchase over 9,500 units valued at close to $445M through his content and training programs.

Blank’s been interviewed by top real estate podcasts, including Bigger Pockets, Joe Fairless (Best Ever Show), Get Rich Education, Cashflow Ninja and many more. “The Michael Blank” blog has also been listed in the Top 25 Real Estate Investing Blogs (2018) by Leap Property Management and Top Online Resources for Learning Real Estate by Fit Small Business (2019).

Blank is a Contributor to FlipNerd, Home Business Magazine, and his work has been featured in USA TODAY magazine, MSN, Go Banking Rates, Thrive Global, Joe Fairless (Best Ever Show), Bigger Pockets, National Real Estate Investor, Home Business Magazine, and more.

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