A lot of people only rely on a single source of income and that’s their 9-5 job, which is more of a liability than an asset from a financial standpoint. Often they don’t realize this until it’s too late, but multifamily real estate pro, Mike Vann, will show you how you can empower yourself and transition from your dull 9-5 job to making a 6-figure income monthly in real estate syndication!
Today our guest is Mike Vann. Mike built a 6-million worth personal portfolio while working fulltime while working in the medical device industry. He started his apartment syndication journey in late 2017 and has been a GP (general partner) on almost 1,000 units. He loves to get back through local, national and international missions work.
Important Points in This Episode
- You build your own real estate portfolio even while you’re still working in your 9-5 job.
- Real estate investing takes a lot of work and sacrifice, but the one thing you should never sacrifice is time with your family.
- By 2005 Mike switched from purchasing single-family properties to investing in multi-family ones and built his wealth.
- One of the key factors in Mike’s success is he created important contacts list (i.e. brokers, bankers, other investors etc.)
- Another secret in real estate syndication Mike has is that he constantly bought real estate rental properties until he accumulated more than 1,000 units, which fueled his success.
- Joining mentoring programs and seminars on real estate syndication adds 100 points to your success just like how it added to Mike’s success as well.
- Working with partners in real estate investment will become a challenge once you’re trying to close a deal; however, if you work together well, then you will see it through and become successful as a team.
- Trident Multifamily website
- Listen to Mike Vann podcast
- Email Mike Vann at email@example.com
- Find Mike Vann on Twitter
- Find Mike Vann on LinkedIn
- “I joined this mentoring program to be around people who are doing that at a high level and learn from them.”
- “…and really worked well together. We had great synergies, we all brought a lot of different strengths [to the table] and similar strengths as well but it all worked very well together. It’s one thing when you’re sitting around and having beers with people on how you’d think you’ll work together, but when you get into the pressure cooker of a deal of syndication and time crunches on to raise money and get all the moving pieces going. Stress brings out the different sides of people and we all worked very well together through that process.”