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Episode #216 - Building Your Perfect "Exit Plan" with Mike Morawski, Part 1

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Synopsis

Novice investors love single family homes.  It is an entry-level strategy for long-term wealth creation, and so easy to purchase that anyone can do it.    But what happens when the market turns? You can be left with a property that is vacant, bearing a mortgage that you’re paying out of your own pocket.   This pain heightens when you combine this with multiple properties and find yourself paying for these properties and bankrupting your bank account. The solution? Investing in muli-family properties where there are economies of scale.   In this episode, Mike Morawski, a veteran multi-family investor joins us to discuss how to build a portfolio of properties that spit out cash flow in any market condition.   Listen now.  Show highlights include:  One key lesson learned from spending over $100k in seminars and training that will make you oodles of cash. (3:12) The “What If” technique for uncertain times to avoid going into bankruptcy (4:50) A 10-year framework to catch the “sweet spot” for investing in propert