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Innhold levert av Taylor The Investor. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Taylor The Investor eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
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How Mike Mannino Retired His Dad at Age 26 Through Real Estate Investing

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Manage episode 388131044 series 2857622
Innhold levert av Taylor The Investor. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Taylor The Investor eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

What mindsets helped Mike go from working at McDonald's to financial freedom through real estate investing?

In this episode, host Taylor Loht interviews young real estate mogul Mike Mannino on his journey from flipping burgers to flipping houses. Mike shares how a challenging health diagnosis in his youth shaped his mindset to live life intentionally and adopt an abundance mentality focused on serving others. He recounts getting started by house-hacking his first property at 19 and then tapping into tax auction properties to launch his flipping business with his dad. Mike explains the key systems and processes he implemented in his company that enabled him to scale up to 80 flips while working only 20 hours a week. He also discusses his strategic transition into multifamily investing for tax benefits, passive income, and wealth appreciation.

Over the past 8 years, Mike has built a business that flipped over 80+ houses by the age of 30 and created multiple companies that generate over 1M per year in revenue, sold tens of thousands of copies of his book (making him an Amazon best selling author) , he is the founder of Real Estate Wealth Builders which is an educational company that helps real estate investors quickly scale their real estate business.

[00:53 - 05:53] The Mindsets That Fueled Mike's Journey

  • How Mike turned his challenging diagnosis into motivation to live intentionally
  • Mike adopted an abundance mindset focused on serving others
  • Why Mike set the big goal of retiring his father

[05:53 - 12:28] Getting Started in Real Estate Investing

  • How Mike house hacked his first property at 19 to cover the mortgage with roommates' rent
  • Mike tapped into tax auction properties to discover profitable deals
  • Mike partnered with his dad on flips by splitting purchase and renovation costs

[12:28 - 18:33] Scaling Up From 1 to 80 Property Flips

  • Mike systematized materials and processes to remove the guesswork
  • Why Mike pays top rates to hire A-player team members
  • Mike documented his journey publicly to attract opportunities

[18:33 - 22:34] Transitioning from Flipping to Multifamily Investing

  • Multifamily provides tax benefits for Mike to offset flipping income
  • Flipping profits stop when Mike stops working; multifamily means passive income
  • Multifamily allows Mike's wealth to grow through gradual rent increases

[22:34 - 28:00] Key Relationships Are Critical

  • Mike couldn't scale his company without the right team in place
  • Knowing the right people allows Mike to buy any deal
  • Mike treats his team well so they'll have his back when issues arise
  • Best deal: A 16-unit apartment building in North Carolina
  • Worst deal: House flips that didn't go according to budget
  • Top lesson learned: Creating and maintaining great relationships in the business.

Quotes:

"Your first deal is your scariest deal. As you know, it's your hardest deal. It's your scariest deal." - Mike Mannino

"If you know the right people, you can buy any deal you want. You can buy as big of a deal as you want." - Mike Mannino

Connect with Mike:

Website: 55kdeal.com

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

  continue reading

715 episoder

Artwork
iconDel
 
Manage episode 388131044 series 2857622
Innhold levert av Taylor The Investor. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Taylor The Investor eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

What mindsets helped Mike go from working at McDonald's to financial freedom through real estate investing?

In this episode, host Taylor Loht interviews young real estate mogul Mike Mannino on his journey from flipping burgers to flipping houses. Mike shares how a challenging health diagnosis in his youth shaped his mindset to live life intentionally and adopt an abundance mentality focused on serving others. He recounts getting started by house-hacking his first property at 19 and then tapping into tax auction properties to launch his flipping business with his dad. Mike explains the key systems and processes he implemented in his company that enabled him to scale up to 80 flips while working only 20 hours a week. He also discusses his strategic transition into multifamily investing for tax benefits, passive income, and wealth appreciation.

Over the past 8 years, Mike has built a business that flipped over 80+ houses by the age of 30 and created multiple companies that generate over 1M per year in revenue, sold tens of thousands of copies of his book (making him an Amazon best selling author) , he is the founder of Real Estate Wealth Builders which is an educational company that helps real estate investors quickly scale their real estate business.

[00:53 - 05:53] The Mindsets That Fueled Mike's Journey

  • How Mike turned his challenging diagnosis into motivation to live intentionally
  • Mike adopted an abundance mindset focused on serving others
  • Why Mike set the big goal of retiring his father

[05:53 - 12:28] Getting Started in Real Estate Investing

  • How Mike house hacked his first property at 19 to cover the mortgage with roommates' rent
  • Mike tapped into tax auction properties to discover profitable deals
  • Mike partnered with his dad on flips by splitting purchase and renovation costs

[12:28 - 18:33] Scaling Up From 1 to 80 Property Flips

  • Mike systematized materials and processes to remove the guesswork
  • Why Mike pays top rates to hire A-player team members
  • Mike documented his journey publicly to attract opportunities

[18:33 - 22:34] Transitioning from Flipping to Multifamily Investing

  • Multifamily provides tax benefits for Mike to offset flipping income
  • Flipping profits stop when Mike stops working; multifamily means passive income
  • Multifamily allows Mike's wealth to grow through gradual rent increases

[22:34 - 28:00] Key Relationships Are Critical

  • Mike couldn't scale his company without the right team in place
  • Knowing the right people allows Mike to buy any deal
  • Mike treats his team well so they'll have his back when issues arise
  • Best deal: A 16-unit apartment building in North Carolina
  • Worst deal: House flips that didn't go according to budget
  • Top lesson learned: Creating and maintaining great relationships in the business.

Quotes:

"Your first deal is your scariest deal. As you know, it's your hardest deal. It's your scariest deal." - Mike Mannino

"If you know the right people, you can buy any deal you want. You can buy as big of a deal as you want." - Mike Mannino

Connect with Mike:

Website: 55kdeal.com

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

  continue reading

715 episoder

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