Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. Today, Tom welcomes to the podcast real estate investor, Michael Vogel, who shares his experience as a rehabber, house flipper, and rental manager. Tom and Michael engage in a rich discussion about real estate investment strategies, the Lifestyle Design exercise and how to identify the right business partners. Michael speaks to the goals he’s set for himself and what lies ahead in the future.
Key Takeaways
- 0:41 – Tom introduces today’s guest, Michael Vogel who joins the show to share his background in real estate and how he got involved in rentals
- 04:10 – Managing rentals and growing the business
- 06:38 – From lofty goals to relatable goals
- 09:46 – The Lifestyle Design exercise
- 14:44 – The shift from 9-5 to full-time real estate investing
- 17:35 – The many hats Michael wears
- 20:36 – Michael reflects on an experiment he and his fellow partners took part in
- 23:50 – A necessary mental shift and finding the right business partners
- 32:48 – Michael talks about his goals for retirement
- 37:53 – Advice Michael would give to his younger self
- 40:23 – What’s next for Michael
- 50:39 – Tom thanks Michael for joining the show
Tweetable Quotes
“Managing rentals is a hard job, a hard business. And it really takes away from growing the business in my opinion.” (05:04)
“Close your eyes and imagine you’ve got all the money. You’ve got the whole network. You’ve got all the resources in the world at your fingertips. What does that look like? And write down, ‘what you would do every day, every week, every month?’” (10:19)
“One thing I tell people all the time is that if you get good at this and you develop the skills around investing in real estate and you enjoy it, even when you reach your goal you’re not gonna stop because it’s fun.” (13:31)
“I think if people spend more time on their strengths they’ll have exponential growth versus trying to focus on your weaknesses and make your weaknesses as strong as your strengths.” (22:48)
“I probably would have taught myself, at an earlier age, the whole lifestyle design part of it earlier. We had some struggling years where it felt like things weren’t going anywhere.” (38:44)
Links Mentioned
🎙️ 🎙️ 🎙️
Podcast Production & Marketing by FullCast - https://fullcast.co/sn
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Ruthie's Table 4
For more than 30 years The River Cafe in London, has been the home-from-home of artists, architects, designers, actors, collectors, writers, activists, and politicians. Michael Caine, Glenn Close, JJ Abrams, Steve McQueen, Victoria and David Beckham, and Lily Allen, are just some of the people who love to call The River Cafe home. On River Cafe Table 4, Rogers sits down with her customers—who have become friends—to talk about food memories. Table 4 explores how food impacts every aspect of our lives. “Foods is politics, food is cultural, food is how you express love, food is about your heritage, it defines who you and who you want to be,” says Rogers. Each week, Rogers invites her guest to reminisce about family suppers and first dates, what they cook, how they eat when performing, the restaurants they choose, and what food they seek when they need comfort. And to punctuate each episode of Table 4, guests such as Ralph Fiennes, Emily Blunt, and Alfonso Cuarón, read their favourite recipe from one of the best-selling River Cafe cookbooks. Table 4 itself, is situated near The River Cafe’s open kitchen, close to the bright pink wood-fired oven and next to the glossy yellow pass, where Ruthie oversees the restaurant. You are invited to take a seat at this intimate table and join the conversation. For more information, recipes, and ingredients, go to https://shoptherivercafe.co.uk/ Web: https://rivercafe.co.uk/ Instagram: www.instagram.com/therivercafelondon/ Facebook: https://en-gb.facebook.com/therivercafelondon/ For more podcasts from iHeartRadio, visit the iheartradio app, apple podcasts, or wherever you listen to your favorite shows. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.