It wasn’t rocket science. And you can do this too.
What did I really do with this property?
I found a property with some problems that I felt I could fix in three to five years by using a professional management company. I renovated the property, increased the rents, and reduced the vacancy. It wasn’t rocket science. It required some knowledge, taking action, and hiring the right property management company to execute on the plan.
If you feel a bit overwhelmed by the numbers, just take a deep breath 먹튀검증. Make sure you don’t miss the main point here: Apartment buildings (even smaller ones) are the single best way to create passive income and long-term wealth so you can do whatever you want in three to five years.
That first deal changed my life forever because it set me on the path of financial freedom that I was seeking. Today I’m a full-time entrepreneur, investor, and coach, and I’m passionate about helping others become financially free in three to five years by investing in apartment building deals with a special focus on raising money.
Today, my partners and I control over $24 million in performing multifamily assets all over the United States. In addition to investing nationwide, I teach others how to do their first apartment building deal through content on my website, www.TheMichaelBlank.com, as well as through additional training programs.
I’ve helped students acquire over 750 units valued in excess of $27M, and we’re on track to do 10,000 units in the next five years through our unique coaching and “Deal Desk” program. I’m the host of the popular podcast Apartment Building Investing with Michael Blank, and I write regularly for Bigger Pockets and Flipnerd’s REI Classroom.
I work when I want to, and I can be with my kids during the day. I take my wife out to lunch several times a week. We also homeschool our kids; combined with the passive income from real estate, that allows our family to travel quite a bit. When we travel, we spend a month or two in whatever destination we choose.
But I gotta tell you: I’m pretty frustrated with my own journey to financial freedom. It took too long and cost me too much money. And it’s all because of the false beliefs I had about apartments.
Most real estate investors never become financially free because they think they can do it with single-family house investing, but they usually can’t. And they dismiss investing in apartments because they think it’s an advanced strategy for which they need years of experience and tons of money.
As it turns out, you don’t need experience or your own money.
It gets even better than that.
Not only do you not need experience or your own money, from the time you decide to pursue a multifamily investing strategy, you will be three to five years away from replacing your income.
It’s all because of the curious “Law of the First Deal.”
