E80: Mike Morawski - He served 10 years in prison & now keeps others out of trouble!
True Multifamily
English - July 28, 2021 20:53 - 29 minutes - 27.7 MB - ★★★★★ - 22 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Mike Morawski, Founder & CEO of My Core Intentions, joins True Multifamily to open up about the mistake of buying too much real estate way too fast, destabilizing him along the way. He shares his unfortunate experience trying to save his company without disclosing the details to his investors, eventually getting sentenced to 10 years in federal prison for wire fraud and mail fraud charges.
Mike shares the steps he took to rise up from getting wiped out, from writing two books to building a coaching and training platform. He also built a third-party scattered-site residential management company to keep things afloat as he was getting ready to go to prison!
With all his experience, Mike shares the important things you need to know during the transition period of getting a property under contract to closing, emphasizing the importance of staying involved, building relationships with the onsite staff, not overlooking due diligence, and ensuring to take all the steps in place.
For all True Multifamily listeners, Mike is giving away a copy of his book, Exit Plan, a complete guide to multifamily investing in why you need an exit plan before you buy.
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