Manage episode 269509429 series 2514838
I had the pleasure of speaking with entrepreneur, real estate investor and co-founder of Trident Multifamily, Mike Vann. Trident Multifamily acquires multi-family apartment complexes with value-add opportunities that force appreciation and deliver strong returns for their investors.
Let’s dive into Mike’s story of how you can succeed in real estate and how to acquire a large portfolio while being a busy professional.
[00:01 - 05:35] Opening Segment
- I talk briefly about great values that await you in this episode
- Let's welcome our guest, Mike Vann
- Mike Vann gives a little bit of background about himself
- He grew up in the remodeling world
- He got into the medical sales field after college
- Mike talks about his portfolio and how he moved forward to build his company
- He built a 6million dollar portfolio
- He scaled into syndication to get to his goal faster
- Found some partnerships
[05:36 - 10:25] The Process of Growing Your Portfolio
- Mike talks about the limitations of doing things on your own
- "The more educated I became, the more I realized that I needed to do something bigger."
- If you were to rewind the clock, what do you think you would have changed?
- “I would have put the pedal to the gas a lot sooner."
- "Put more deals in front of me"
- "Break it down to small chunks and take action on those steps"
[10:26 - 19:19] Setting Up Your Goals and Making Actionable Plans
- Mike talks about the importance of educating yourself when going into real estate
- Mike shares something interesting about his secret to success
- The power of partnerships speak volumes
- Mike weighs in on the "Great Recession" and the future of the market
- There's pent-up demand from consumers to spend money
- Quick word from our sponsors
[19:20 - 23:22] Closing Segment
- What is the best investment you've ever made other than your education?
- "The 16-plex deal that I made."
- What is the worst investment you ever made?
- "One of my earlier flipped houses."
- What is the most important lesson that you've learned in business and investing?
- "Have a positive attitude and be persistent."
- Final words from Mike and me
"The more educated I became, the more I realized that I needed to do something bigger." - Mike Vann
"Don't be comfortable. Define your goal, define your plan, put the pedal to the metal, and hit it!" - Mike Vann
"There's a lot of things in this business that will get you down. Whether you have someone rip you off or you lose money in a deal. You can't take anything personally, you gotta pick yourself up look at what mistakes happen, and how to mitigate them moving forward." - Mike Vann
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