027: How to get the Best Acquisition Rehabs in Single and Multifamily with Mike DeHaan
The best deals are found when you’re willing to do what no one else is willing to do. Mike DeHaan started out his career as an electrical engineer wearing a pair of golden handcuffs. Mike started researching passive income and found REI, but he knew if he wanted a real passive income, he needed to change his approach. This is when he started networking more, employed a different strategy and watched the calls start rolling in. Today, Mike has hired staff and improved his systems to be able to handle consistently doing 3-5 deals per month. As of now he owns 28 doors, and has completed 48 deals in his 3 years investing and now generates more passive rental income than he used to make with his 6 figure salary by taking on deals that others won't.
Want to learn more about Mike’s unique sales strategy? Tune in and find out how to get the best acquisition rehabs in single and small multifamily real estate.
Getting to know Mike DeHaan - [00:01 – 06:16]
- I introduce Mike DeHaan to the show
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- Bio
- Mike gives a bit of his background
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- Becoming an electrical engineer
- Realizing he wasn’t happy in his position
- Time for a change
How to get the Best Acquisition Rehabs in Single and Multifamily - [06:17 – 21:59]
- Mike’s journey after ‘burning the boat’
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- The revelation that something needs to change
- The process of trying to find a passive income
- Getting into transactional real estate
- How Mike began finding success in real estate
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- Networking with BiggerPockets
- Seeing an opportunity to scale
- Mike’s proven investment strategy
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- The power of having leads
- Creating your brand that builds credibility
- Generating leads from marketing
- Buying at such a low discount, the purchase is the return
- How to make money generating leads rather than lose
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- Your sales process
- Be the one that fixes people’s problems
- The value of finding the right Mastermind
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- Shortening the time to success
- Buying into community and process
The Quattro Trio - [22:00 - 28:29]
- What is your superpower?
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- Finding opportunities where others don’t
- What was your biggest failure?
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- Signing a deal the day before the balloon payment was due
- What resources do you have for listeners?
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- Links below
- Connect with Mike!
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- Links below
- Final words
Tweetable Quotes:
“The key to the real estate business, or any business, is having leads… The best leads are motivated sellers.” - Mike DeHaan
“We buy at such discounts that we almost make our money at the purchase rather than having to do the value add after the fact.” - Mike DeHaan
“Anyone can generate leads, and that’s awesome… but the difference between people that generate leads and waste a bunch of money and those who do so and make a bunch of money, is the sales process.” - Mike DeHaan
Resources Mentioned:
Want to connect with Mike? You can follow him on Instagram or start a conversation by emailing mikeinvestsrei@gmail.com. Check out https://mikeinvests.com/ and build up your investment business!
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.