“Growth for the sake of growth is the ideology of the cancer cell.” Edward Abbey
As commercial real estate investors, success is often equated to unit count or transactional volume. Although these variables are important measures of growth, rapid acceleration of that growth can lead to building a business on an unstable foundation.
Our guest on today’s episode is Michael “Mike” Morawski, a 30 plus year real estate investment veteran who has controlled over $285 million in real estate transactions and syndications. He’s also an entrepreneur, author, real estate trainer, public speaker, and a personal coach for investors. Mike found rapid success from taking massive action early in his career however discovered the pitfalls of scaling a business too quickly during the financial crisis of the late 2000’s. It was those pitfalls that cost him his fortune, his time, and most importantly, his family.
Mike has always believed that transparency and honesty are central to any successful business and personal life. As a result of the 2008 world economic crisis, Mike let his guard down and let his transparency slip. The impact that had on his company and its real estate holdings left him scrambling to protect the company and its investors.
In this episode, we cover:
Navigating several decades of real estate investing
The mistakes that can be made from scaling a business too quickly
Ethical decision making
Pulling yourself up from the lowest point in your business and in life
The importance of having and exit strategy
Mike addresses each of these sensitive topics and so much more in this chilling episode! Tune in today to learn the importance of patience, transparency, and ethics in real estate investment!
The Final Four:
1. What do you do for your continued education to further your investing?
Mike: “I love podcasts because I learn a lot from the interviews. I also love to read. I’ve read 1500 books in the last 20 years.”
2. What have been the lasting lessons you've learned along your journey?
Mike: “Think things through. Don’t grow too fast. Keep your eye on the ball. I should have listened to the people around me. Other people see things that we don’t see. You have to pay attention to the things going on around you.”
3. What advice would you give to the listeners to help them grow their businesses?
Mike: “Continue to get educated and get a coach and/or a mentor. Coaching is priceless. Spend the money and get insight from somebody else. It’s not just about the coaching, it’s about the accountability and the execution that happens as a result from you having skin in the game.”
4. How can the listeners learn more about and connect with you?
Mike: “You can connect with me on Instagram, Facebook, and LinkedIn. I love to talk to people and have a conversation and see how I can bring value to your world! You can also email me at [email protected].”
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