Multifamily Investing with a Full Time Job with Mike Vann
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Mike has been investing in real estate for almost 20 years throughout Arkansas and Missouri while balancing a family and a full-time career in the Medical Device Industry. He has built a $6M+ personal portfolio across multiple asset classes, consisting of Single Family, Small Multifamily, Apartments & Commercial properties. Having worked in the family construction business, he gained experience in both doing the work and in project management. These skills served him well as he has completed many flips, rehabs and even a heavy lift, $7k per door apartment complex renovation over the last several years.
In 2017, after years of informally helping people through advice, mentoring and sharing his knowledge of the business, he decided to formalize and scale those efforts to help other busy professionals realize the security and freedom that can be attained through real estate investing. He is achieving those goals through apartment syndication and has since been involved in the purchase of approximately 1000 units in Kansas, Oklahoma and DFW valued in excess of $60M.
Besides educating and helping busy professionals work their way towards financial freedom, Mike enjoys being involved in local, national, and international mission work and believes \\u201cWe are blessed, to be a blessing\\u201d.
KEY POINTS
- Balancing real estate investing with a full-time day job
- Scaling a duplex into 55+ units
- Growth through doing the uncomfortable things
- Tips to a successful multifamily syndication
- What to look for in a potential partner
- Common mistakes of a new real estate investor
- Passive vs. Active investing
LIGHTNING QUESTIONS
What was your biggest hurdle getting started in real estate investing, and how did you overcome it?
- Taking action.
Do you have a personal habit that contributes to your success?
- Prayer and strong faith.
Do you have an online resource that you find valuable?
- Continue educating oneself on a daily basis like reading journals and listening to podcasts.
4. What book would you recommend to the listeners and why?
- Rich Dad, Poor Dad book by Robert Kiyosaki
- Phenomenal Teaching book by Wendy Ward Hoffer
If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?