In today’s episode of The Untold Stories of Real Estate Investing, host Wayne Courreges III speaks with Mike Mannino II. Over the past 9 years, Mike has built a business that bought, fixed, and flipped over 80 homes and owns 60+ rentals by the age of 30. He has created multiple companies that generate over $1M per year in revenue.
He’s the founder of Real Estate Wealth Builders at REWBuilders.com, an educational company that helps real estate investors quickly scale their real estate business.
Topics on Today’s Episode:
- Introduction to guest Mike Mannino II and his journey in real estate investing. Discussion of the critical importance of mindset.
- Mike’s early success, buying a house at 19 to renovate and house hack. He sold the house at 21 and chose to reinvest the equity in fix and flip homes.
- Wayne relates discipline and going against the grain to invest in the future, during his time the Marine Corps.
- Goal setting is important for both personal and business aspects. The feeling of achieving a goal feeds the next goal. Humans avoid pain more than seek pleasure, so the feeling of not achieving the goal is very motivating as well.
- Mike’s passion for retiring his father and already achieving a $100K/year goal for him.
- Mike discusses his standardized pricing sheet and uniform set of decisions for each fix and flip property-same cabinets, floors, trim, paint color, etc. Defined process saves time and money for each flip.
- Profiling key members of Mike’s team, including his partner David and office manager Olivia and 3 construction crews. Mike’s goal to help others is manifested through helping them achieve higher income to support their families.
- The inception of REWBuilders.com, Mike’s real estate educational platform. Free resources and Facebook group are available on the website.
- REWBuilders live event in Florida for networking and learning about various types of real estate investing.
- Overview of Mike’s nine years in real estate: flipping 80 houses and acquiring 60+ rentals.
- Insights into flipping houses and the difference between being rich and being wealthy. Mike states that flipping single-family homes built cashflow, but multi-family helped him achieve financial freedom.
- Leverage people that are in places you want to be. Learn from and partner with those who have done the thing you want to do, to reach your goals.
- Mike and Wayne share the importance of focus and overcoming fears in real estate.
- The conversation on building wealth over time and the significance of setting achievable goals.
- Mike’s proudest moment was achieving his goal to retire his dad with $100k in income per year.
- Wayne’s gratitude for the conversation and a teaser for an upcoming podcast on entrepreneurial mindset.
- Get more info from Mike through the free resources on REWBuilders.com and by joining his active Facebook group.