In The Lab with Ruben Kanya
In The Lab with Ruben Kanya
Ruben Kanya
Exit Plan: Failure Exposes Blind Spots & Success Leaves Clues with Mike Morawski Episode #165
1 hour 3 minutes Posted Jan 3, 2022 at 3:36 pm.
Background of the guest
Transitioning to Real Estate
For sale by owner strategy
Disadvantages of technologies (cellphones)
Educate yourself by reading a lot of books
Getting different coaches
Get a coach that is 10 steps ahead of you
Private equity model
Raising capital on the first deal
Starting off with a bad deal
What if the market’s going to crash
Not be over leveraged
Underwriting deals
3 Core Businesses of the guest
Make sure you’re always disclosing deals to your investors
Don’t ignore the red flag signs
Fundamental Lessons
What’s next for Mike 3
“ If you do whatever successful people have done, you can cut the learning curve and cut the time.”
“You need to go on and get something else from somebody else.”
“Success leaves clues. And don’t let your past or your stumbles define you because they’re not who you are. Take action and move forward.”
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Show notes
GUEST SUMMARY
Michael Morawski is a real estate investment veteran. He has controlled over $285,000,000 in real estate transactions.  He is an entrepreneur, author, real estate trainer, public speaker, and personal coach with a strong, personal resilience, and deep desire to help others accomplish an extraordinary life. He has coached hundreds of real estate investors to fulfill their dreams.
Mike started his career as a general contractor in the Northwest Suburbs of Chicago with $5 mm in annual revenue. He then sold his company and took some time off to decide what to do next. He entered the real estate industry as a sales agent building a team of agents and support staff that produced over $20 mm per year in sales production.
Mike started a private equity firm in 2005, raising $18 mm in private equity and acquired $60 mm in multi-family apartments including 4,000 units in five different US markets. As part of the company’s growth, Mike built and developed a property management division that managed 7,500 units, along the way Mike ran into some hiccups and lessons that he shares with us and leading to him being indicted into prison.
In this episode, Mike rolls up his sleeves and shares wisdom from his wins and losses and reminds us that success always leaves clues. If you want to know how to identify your blind spots and anticipate red flags with deals, partners and your portfolio,  Tune in to this episode, you’ll be glad you did.
HIGHLIGHTS OF THE EPISODE:
KEEPING IT REAL:
NOTABLE QUOTES (KEY LESSONS):
“A good coach can’t be your friend.”
CONNECTING WITH THE GUEST
Website: www.mycoreintentions.com
Email: [email protected]
Facebook: https://www.facebook.com/mycoreintentions
LinkedIn: https://www.linkedin.com/company/mycoreintentions/
Instagram: https://www.instagram.com/mycoreintentions%20
Book: https://mycoreintentions.com/product/exit-plan-ebook