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b'Are you a real estate investor looking to scale your portfolio? Tune in as Michael Glaspie shares his experience scaling a portfolio of 134 units and offers vital lessons he learned. From house hacking to understanding the numbers, Michael advises looking at your business like a car manufacturing company, managing operational costs, and understanding financial statements. Plus, he shares his worst and best investments and how they shaped his overall strategy.\\xa0\\n\\xa0\\nAspiring real estate investors will want to experience this episode full of practical advice for managing a successful portfolio!\\n\\xa0\\n[00:00 - 08:19] Opening Segment\\nIntroducing Michael to the show\\nHe scaled his portfolio to over 134 units and founded an agency of 100 agents\\nHe teaches investors how to run their real estate like a business\\n\\xa0\\n[08:20 - 14:00] Understanding the Profitability of Real Estate Investing\\nReal estate investors should strive not to be the smartest person in the room and hire experts to help them scale\\nHaving bookkeeping in place is essential, no matter what level of experience you have\\nBe aware of additional costs, such as third-party property management, when looking at profitability\\n\\xa0\\n[14:01 - 21:30] Understanding Financial Statements\\nInvestopedia.com is a good source for understanding how to read financial statements\\nTax planning is essential for all investments, mainly flipping, which gets hit hard with short-term capital gains taxes\\nThe importance of being mindful of financial statements\\xa0\\nTrack profit margins rather than individual dollars to be prepared for increases in property taxes and insurance\\n\\xa0\\n[21:31 - 25:56] The Impact of Real Estate Investing\\nThere is a need to increase revenue to keep the same profit margin\\nA fractional CFO should be hired when generating over 100K in revenue\\nCEOs are looking for a return on their investment in every decision they make\\n\\xa0\\n[25:57 - 30:46] Closing Segment\\nBest investment: Michaels\'s first property, which was bought with a VA loan\\nWorst investment: a wholesale assignment that led to someone being displaced and homeless.\\nThe most important lesson learned: it is okay to ask for help\\n\\nQuotes:\\n\\xa0\\n"When we want to scale a company, all we\'re doing is we\'re improving efficiency." - Michael Glaspie\\n\\xa0\\n"I don\'t care what your passion is or what you envision you want to do. There\'s one thing in this world that can help supply and fund it all, and that\'s money." - Michael Glaspie\\n\\nConnect with Michael!\\nInstagram: https://www.instagram.com/michael.s.glaspie/\\xa0\\nYouTube: https://www.youtube.com/@michaelsglaspie\\xa0\\nWebsite: www.MichaelSGlaspie.com\\xa0\\n\\nInvest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/\\n\\xa0\\nTrack your rental property\'s finances with Stessa. Go to www.escapingwallstreet.com.\\n\\xa0\\nJoin our Passive Investor Club to access passive commercial real estate investment opportunities.\\n\\xa0\\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.'