66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank
On today’s show, we sit down with real estate entrepreneur Michael Blank to talk about his journey from a successful house flipping business and his entrance into apartment buildings… and the systems needed to run his investments well.
Michael is a business entrepreneur through and through and today we get to talk about everything from getting started, investing with no money, working with (and as) a wholesaler, and even hear the story of the professional tenant that almost destroyed Michael’s investment career!
This show is packed with useful, actionable tips, so don’t forget your pen and paper on this one… you are going to need it!
In This Show, We Cover:
- How Michael started his investing journey by flipping dozens of houses per year
- Why building up a network of wholesalers is important
- How Michael raised money to fund his flipping
- The “magic question” to ask when raise private money
- Michael mistakes and successes when getting started
- Developing a great real estate team
- Using virtual assistants in your business
- Michael’s transition from flipping to apartment complexes
- Michael’s tricks for finding great commercial real estate deals
- Michaels take on the topic of rent control
- Michael’s major mistakes in his REI career… and that one tenant in DC
- And so much more!
Links from the Show
- BP Podcast 033: How to Close 27 Deals in Your First Year While Working Full Time with Sam Craven
- eLance.com
- Loopnet.com
- Marcusmillichap.com
- Cbre.com
Tweetable Topics
- “Cutting corners hurts you and your business at the end of the day.” (Tweet This!)
- “When you have a good team, firing on all cylinders, you can do amazing things.” (Tweet This!)
- “You get what you negotiate.” (Tweet This!)
- “The secret to success is to be intentional.” (Tweet This!)
Books Mentioned in the Show
- Rich Dad, Poor Dad by Robert Kiyosaki
- Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal by Oren Klaff
- The 4-hour Workweek by Timothy Ferriss
Connect with Michael!
- Michael Blank’s BiggerPockets Profile
- TheMichaelBlank.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Available Results
Generated results are saved to your library for reuse and search.
Choose Template
Pick the result you want. You can review provider and model before generating.
A concise first-pass summary for understanding the episode quickly.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Repeatable methods, frameworks, mental models, processes, and systems.
A dedicated inventory of concrete resources named in the episode.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Scientific findings, mechanisms, studies, hypotheses, and the limits of the evidence discussed.
Technologies, AI models, technical methods, capabilities, limitations, and adoption implications.
Investment theses, assets, catalysts, valuation reasoning, time horizons, and risks.
Chronologies, actors, causes, consequences, turning points, and competing historical interpretations.
Policies, proposals, stakeholders, arguments, implementation constraints, and predicted effects.
Career paths, skills, hiring signals, workplace decisions, transitions, and limitations of the advice.
Behavioral mechanisms, biases, motivation, habits, emotions, interventions, and evidence limitations.
Economic mechanisms, incentives, indicators, market structure, forecasts, and uncertainty.
Leadership principles, team systems, organizational design, culture, feedback, and failure modes.
Audience, positioning, messaging, acquisition, retention, experiments, metrics, and failed approaches.
Teaching methods, learning strategies, practice, feedback, assessment, and effectiveness evidence.
Theses, premises, arguments, objections, values, thought experiments, and unresolved questions.
Communication patterns, conflict, boundaries, expectations, repair methods, and contextual limitations.
Books, papers, authors, courses, and other learning resources mentioned in the episode.
Repeatable methods, frameworks, mental models, processes, and systems.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Memorable statements and important claims with attribution and source context.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.