Nov 23, 2020
In today's episode, let's reveals how Michael gets the 26 Doors
in 1 year with the right relationships & no marketing dollars
spent.
Michael Glaspie is a Commercial Real Estate Broker in Fayetteville,
NC. For the past 10 years, he served in US Army Special Operations.
Since purchasing his first investment property in 2014, Mike has
completed several transactions in a variety of ways such as
‘Subject-To’s, wholesales, flips, and buy and holds. Mike currently
holds over 35 rental properties, controls over $1.5 million of
assets under management, and co-founded the Five Pillars real
estate team -- all while serving full time in the military.
KEY TAKEAWAYS:
- 3:00 Starting with house hack in 2014
- 4:50 Government pension wasn’t a part of Mike’s long term plan
- 5:26 1st deal using a V.A. loan & turned out to be a bad investment
- 6:05 Mike used a subject 2 transaction to own a house for only $1800
- 18:00 How Mike found his deal through networking
- 9:20 Doing his 1st deal. He talks about how scared he was but he was resourceful
- 10:15 How Mike structured this subject 2 deal
- 11:40 How to use a land trust to circumvent the lenders due on sale clause
- 15:00 Converting $1800 to $18,000
- 17:55 How buying foreclosures properties and making the crucial decision to get licensed
- 21:30 Refocusing his real estate strategy to build a portfolio of 36 total doors
- 24:00 Mike’s wholesale failure lost him $1500 and ruined his reputation
- 28:30 How your network can increase your business. This is how Mike increased his portfolio without and marketing money
- 31:40 Finding money to close deals using lines of credit
- 37:37 Why Mike almost quit 8 deals and $15,000 loss in 1 month
- 41:43 HOT SEAT
Connect with Michael at:
https://fivepillarsrealty.com/
Instagram@michael.s.glaspie
Book/Resources Request:
The One Thing by Gary Keller
https://amzn.to/3pRNCmW
----------------------------------------------------
Thanks for listening to this episode! And, if you enjoyed this episode, please share it on social media using the social share buttons below, and don't forget to leave a short review on iTunes.
Also, if you want to learn more about real estate wholesaling,
feel free to visit my website and youtube
channel. If you get value from the videos and content
we’re putting out, please subscribe.⠀
⠀
Schedule Your 15 Minutes Free Consultation with Marcus at:
Marcusemaloney.com
⠀
⠀
Grab my FREEBIES Resources for:
Purchase
Contract:
Assignment Agreement Link:
15 Questions to validate your seller:
Join our conversations at:
Facebook:
Facebook group:
Twitter:
Instagram:
Linkedin: ⠀
⠀
--⠀
⠀
Also, find the show on Feedspot: https://blog.feedspot.com/real_estate_podcasts
Enjoy the Real Estate Journey!