Great episode this week for those who are looking to build a portfolio of small-midsize multifamily properties! In this episode, I interview Mike Heldstab, who built a 48 unit portfolio while working a predictable, government job. f you are looking to build a portfolio while working your W2 job, you need to listen to this episode – Mike shares a lot of practical tips to find off-market deals, create great relationships with local banks, as well as advice on self-managing a rental portfolio.
Show Notes:
2:50 Mike shares his background and how he initially ventured into real estate investing.
5:33 Mike talks about his first real estate deal and the key takeaways that he learned through the process.
7:50 We discuss how Mike scaled his real estate business after his first deal and what drove him to buy more rental properties.
10:48 Mike discusses what his business looks like currently and what he is doing to expand his business even in today's market.
18:40 We discuss how to build relationships with local banks to secure great financing options for smaller multifamily deals.
21:52 Mike shares his standard business plan that he uses for most of his deals.
25:02 Mike talks about the tips he would give to anyone who wants to self manage their own rental properties.
28:20 Mike shares a piece of advice that he would give to himself before starting his real estate career.
29:40 Mike discusses his biggest business related failure and what he learned from it.
32:22 Mike shares the best decision he has made in his real estate career
34:25 Mike goes over one skill/trait that he attributes his success to.
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
CONNECT WITH MIKE:
https://www.instagram.com/theheldstab/?hl=en
https://www.linkedin.com/in/mikeheldstab/
