While the potential for growth in the real estate business is staggering. Once you are in it and witness how much you can scale, it can be tempting to keep going. That’s definitely possible, however, in today’s episode, Mike Morawski reveals his story and reminds us of the dangers of not trimming loose ends in implementing business strategies. Hear how he managed the drastic uphills and downhills of the industry from its early parts and how those impacted his life all throughout.
[00:01 – 05:01] Opening Segment
- I welcome today’s guest, Mike Morawski
- How he sold his business and stumbled upon real estate
[05:02 – 12:16] The Significance of Information Disclosure to Investors
- The sudden shift in the market and the 2008 bubble
- Mike shares his struggles as a multi-business owner
- From being convicted for wire fraud to becoming a commendable real estate coach
[12:17 – 29:47] The Repercussions of Scaling Too Quickly
- The intentions may be good, but it’s important to check on the manner
- How Mike figured out the real estate systems at the early stages
- The contributory factors to realize in building confidence before scaling up
[29:48 – 35:55] Closing Segment
- How to position yourself towards proper execution
- Final words
Tweetable Quotes:
“I had a guy walk up to me and said, ‘Hey, don't let these people beat you. All they want to do is take everything from you. And they can take your real estate, they can take your cars, they can take your business, they can destroy your family, but what they can't take is what you're made up of.’ ” – Mike Morawski
“[The investors] may panic, but be willing to just say, hey, we're in business. Business doesn't always go as planned. Here's what happened. We want you to be a part of the solution. I think that's something that I think more of us can do.” – Jerome Myers
Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3
Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB
Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC
