Business
In today's episode, let's reveals how Michael gets the 26 Doors in 1 year with the right relationships & no marketing dollars spent. Michael Glaspie is a Commercial Real Estate Broker in Fayetteville, NC. For the past 10 years, he served in US Army Special Operations. Since purchasing his first investment property in 2014, Mike has completed several transactions in a variety of ways such as ‘Subject-To’s, wholesales, flips, and buy and holds. Mike currently holds over 35 rental properties, controls over $1.5 million of assets under management, and co-founded the Five Pillars real estate team -- all while serving full time in the military. KEY TAKEAWAYS: 3:00 Starting with house hack in 2014 4:50 Government pension wasn’t a part of Mike’s long term plan 5:26 1st deal using a V.A. loan & turned out to be a bad investment 6:05 Mike used a subject 2 transaction to own a house for only $1800 18:00 How Mike found his deal through networking 9:20 Doing his 1st deal. He talks about how scared he was but he was resourceful 10:15 How Mike structured this subject 2 deal 11:40 How to use a land trust to circumvent the lenders due on sale clause 15:00 Converting $1800 to $18,000 17:55 How buying foreclosures properties and making the crucial decision to get licensed 21:30 Refocusing his real estate strategy to build a portfolio of 36 total doors 24:00 Mike’s wholesale failure lost him $1500 and ruined his reputation 28:30 How your network can increase your business. This is how Mike increased his portfolio without and marketing money 31:40 Finding money to close deals using lines of credit 37:37 Why Mike almost quit 8 deals and $15,000 loss in 1 month 41:43 HOT SEAT Connect with Michael at: https://fivepillarsrealty.com/ Instagram@michael.s.glaspie Book/Resources Request: The One Thing by Gary Keller https://amzn.to/3pRNCmW ---------------------------------------------------- Thanks for listening to this episode! And, if you enjoyed this episode, please share it on social media using the social share buttons below, and don't forget to leave a short review on iTunes. Also, if you want to learn more about real estate wholesaling, feel free to visit my website and youtube channel. If you get value from the videos and content we’re putting out, please subscribe.⠀ ⠀ Schedule Your 15 Minutes Free Consultation with Marcus at: Marcusemaloney.com ⠀ ⠀ Grab my FREEBIES Resources for: Purchase Contract: Assignment Agreement Link: 15 Questions to validate your seller: Join our conversations at: Facebook: Facebook group: Twitter: Instagram: Linkedin: ⠀ ⠀ --⠀ ⠀ Also, find the show on Feedspot: https://blog.feedspot.com/real_estate_podcasts Enjoy the Real Estate Journey!