Business
Mike has been investing in the real estate business since 2004 and has had multiple rentals in locations such as Michigan, Chicago, and Florida. His objective is to purchase neglected apartment complexes that are in need of repositioning and/or with property management issues. These properties are located in emerging markets creating additional added value. He then sells or refinances the property to use the proceeds to buy more and/ or larger properties. Mike has experience in negotiating Letters of Intent/Purchase and Sale Agreements with Banks, Private Investors, and Note Portfolio holders all with holdings of Multi-Family Apartments. He has extensive experience in working with Property Management companies implementing superior Asset Management. What you’ll learn on this episode: How Mike and his dad made the transition from Single family homes to Multifamily. How Mike went through 60-70 lender contacts before he found us and we got him financed almost immediately! How Lane and Mike have worked through every deal since then and have used multiple sources to grow Mike’s multifamily empire to currently 180+ Units! How Mike has done this almost entirely with OPM! Tips for how ANYONE can do the same!