Buying a house could be a daunting and truly an intimidating pursuit… But if others can do it, so can you.
This is one of my most favorite parts of my conversation with Mike Hennig more than a year ago, which I’m very excited to bring back today. Mike’s insights have been truly impactful to me, and I believe they deserve the spotlight once more.
Mike Hennig has dabbled in real estate investing on a part-time basis since 2007. However, his real estate portfolio defies the notion of part-time, as he possesses a substantial 96-unit property portfolio spread across 15 different locations in Chicagoland and Northwest Indiana, totaling nearly $10 million in real estate value.
Over the past six years, Mike has been employed as a management consultant at Gallup Inc. and, prior to that, served as an executive at a trading firm situated in the Chicago Board of Trade. Although these roles have no direct connection to the real estate industry, they have generated income that Mike cleverly redirected into his real estate investment endeavors.
He methodically constructed his impressive portfolio while balancing a full-time job unrelated to real estate. In this episode, Mike generously imparts valuable insights, strategies, and advice to assist you in achieving similar success in your personal real estate investment journey.
Notable Takeaways from the Episode:
10:36 First buy story and FHA Loan
13:13 Common problems with college renters
15:51 Best books to get you started in RE
17:09 Common challenges to your first deal
22:32 Growing in RE while working a day job
28:54 Bringing in a partner to expand in the early days
36:55 Inspiration from Bigger Pockets podcast
37:20 First multifamily deal + navigating multifamily lending
42:24 Flipping houses to build capital
49:28 Distributing quarterly distributions to investors
52:32 Benefits of passive investing over other business and investment types
56:43 Tips for investing in real estate while working a full-time job
If you got inspired with Mike’s mindset and want to get in touch, connect with him on
LinkedIn or send him an email at
mhennig14@gmail.com
--
What is Breneman Blueprint: Real Estate and Entrepreneurship Podcast?
Real estate is the most proven way to build wealth. But learning how to invest in real estate is not easy. You need a blueprint from other successful investors. That is what this podcast is all about.
In each episode, join Drew Breneman, a real estate investor who owns more than $200M in property, as he and his guests teach you what you actually need to know to be a successful investor. Whether you are a full-time active investor, a passive investor, close to retiring, just starting out, or simply looking for an alternative to the stock market, this podcast is for you.