#192 with Mike Ealy: Scaling His Real Estate Business to Over $1.5 billion Under management

Millennial Millionaire Real Estate Podcast

English - March 11, 2021 19:18 - 46 minutes - 85.4 MB - ★★★★★ - 56 ratings
Investing Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: #191 with Mike Brown: Scaling His Real Estate Business With Rental Arbitrage & Automating Your Tasks

Next Episode: #193 with Jonathan Farber: What's New & What I'm Focused On

In this episode, Jonathan Farber brings Mike Ealy back to the show on his road from his first real estate career in the 90’s to grasping the opportunity that the pandemic presented when it threatened his business model. Mike is a hotel and apartment investor with over $1.5 billion under management. In this episode, we dig into topics like: a growth mindset in tough times, scaling yourself as you scale your business, continuing after you reach financial freedom, and more!

Top Takeaways:

Keeping the mindset to grow when everyone else shrinks - 10:45 - 15:45

Remember that normally in a downturn hospitality is hit first - that didn’t happen
Interest rates have dropped low enough to convert premium assets into creating cash flow
The temporary disruption has also created the chance to convert properties to whole new classes

Matching the size of your workload to the size of your deals - 19:00 - 21:15

The bigger the deal is, the more important your team is to your success
You don’t have to limit yourself to one group for everything - the team should match the operation
The more you can pass off the minutia to a dedicated team, the more you can do on your own

The drive to keep expanding after financial freedom - 22:00 - 25:30

While you may indeed reach your initial financial life goals, what will you do after that
If you’ve gotten this far you probably love what you’re doing
The more time you free for yourself the more time you have to reflect on your true motivation

How to bring value to Mike Ealy:

Check out his Big Deal Hacking System masterclass

Resources:

Book by Spencer Johnson: Who Moved My Cheese?

Social Links:

biggerpockets.com/users/MichaelEaly

bigdealhacking.com

https://www.facebook.com/groups/apartmentinvestingsecrets/

@mikeealynassau

https://www.linkedin.com/in/nassaumikeealy

Connect With The host, Jonathan Farber Here!

[email protected]