Business
Michael's Background:Michael was a high-net-worth insurance producer for about a decade, really at the top of his game there for a fortune 500 company. He transitioned to multifamily after dabbling into single family real estate, in 2015. He is a GP in over 1400 units and that's $74 million worth of assets, and that's across five states, Texas, Minnesota, Wisconsin, Alabama, New Mexico, and that's all through his group, the Granite Towers Equity Group. He is a co-founder of that group, the PE firm there. And just a couple more things about Michael. He is the co-host of the 'Keeping It Real Estate Show', which I love that name by the way, and the author of the Four Steps To Successful Passive Investing.In this episode we cover: 04:02 - Operating/owning across multiple states 07:08 - Sizing up a PM group to fit your needs 10:47 - Divorcing a PM 14:07 - Homerun boots on the ground teams 20:57 - Remote calls on property performance 23:08 - Favorite KPIs to track a property's performance 29:12 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why? 29:43 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it? 30:29 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear? 31:31 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality? 32:46 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?Connect with Michael:Mike@granitetowersequitygroup.comgranitetowersequitygroup.comConnect with Dave:Schedule a callWebsiteE-mailOther ways to listen/watch:https://lnk.bio/multifamilyFollow or Subscribe:Facebook GroupLinkedInInstagramYoutubeIf you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort