Using The Law Of The First Deal To Quit Your Job And Generate Mailbox Money | Michael Blank

In this episode of the Millionaire Mindcast, we have a remarkable guest, Michael Blank who share his insights and pieces of knowledge on the framework and processes of multifamily investing, the secret on how to scale very rapidly, when to walk away from a deal, the importance of partnerships in the syndication world, the perfect timing to invest, and the law to the first deal to build a career and wealth!

Michael is a full-time entrepreneur, an apartment building investor, teacher and coach, and host of the popular podcast “Apartment Building Investing with Michael Blank”. He is passionate about helping others become financially free in 3-5 years by investing in apartment building deals with a special focus on raising money.

Through his company Nighthawk Equity, he controls over $65 million in performing multifamily assets all over the United States. He teaches others how to do their first apartment building deal through tons of free content on TheMichaelBlank.com as well as additional training programs.

He has helped students acquire over 750 units valued in excess of $27M and are on track to do 1,000 units in the next 12 months through our unique coaching and “Deal Desk” program.

Michael was once a 9 to 5 worker, until he took all his money to establish restaurants. But this experiment went pretty badly. He realized that he had focused on the wrong business that got almost lost all his money. In 2006, he discovered real estate investing. He started by flipping 3 houses and earned money from them. Later, he pivoted from single house investing to full-time multifamily investing.

Meanwhile, Michael admits that clarity is everything to him. He believes that people are resourceful to figure out things but the mindset is what holds us back. Thus, the first point of failure is having that idea and plan but not taking action. Also, he emphasizes that you don’t need to be an expert in multifamily, because it takes only one deal away from changing your life.

Presently, Michael is pushing his mission, to help people quit their jobs and leverage the power of multifamily as the fastest way to cover your living expenses!

 Some Questions I Ask:

• Take us back to the beginning of this entrepreneurial endeavor, how you landed on real estate, and where that led you? (07:15)
• You talk about the pivot, what did that look like for you and how did you get enough momentum to go out there and actually be successful and get that traction that just leads you to where you are today? (13:57)
• How important it is to be clear on what you’re pivoting to, and what that plan and preparation that goes into what that plan looks like? (16:54)
• How many students have gone through your program now, and how many doors your group have under management? (19:42)
• How important it is in terms of analysis is that where you see most people missed and buy a bad deal on their first one? (25:40)<