From Building to Flipping to Multifamily Mastery with Michael Mannino, Ep 83

02/15/24 • 33 min

Today's guest is Michael Mannino, He is a licensed Master Builder in Michigan and Florida. With over 35 years in the construction industry, he has built, renovated, and remodeled residential houses, including multi-million dollar homes for local celebrities. He is a founder of several multi-million dollar companies that build and flip houses, and invest in multifamily real estate.

Michael talks about his experiences in the real estate industry, from purchasing and renovating homes to making multifamily real estate investments. He stresses the value of having capable partners to help a project succeed.

He also discusses how cost segregation and tax advantages increase the profitability of real estate investments. A black belt who routinely breaks bricks with his bare hands, Michael gave some inspiring insights in how he overcame imposter syndrome and became a confident real estate investor!

Episode Topics

[01:17] Meet our guest, Michael Mannino
[03:21] The Art of Buying and Selling Houses
[13:51] The Magic of Multifamily Real Estate
[19:46] The Tax Benefits of Real Estate Investments
[22:07] Transitioning from Flipping to Multifamily
[25:33] The Future of Real Estate: Building Multifamily
[26:27] What is one red flag every investor should look out for?
[27:39] What is a myth about the real estate business?
[31:44] Connecting to Michael

Notable Quotes

"Money doesn't change you; it just brings out who you really are. If you're a jerk, then you're just gonna be a rich jerk once you have money and vice versa." -Tim Little
"When you buy a product might be more important than where you buy it. The time to buy is coming soon." -Michael Mannino
"The real estate market is tricky. Pent-up demand could drive prices higher, even if rates drop. I'll watch with my 2.5% interest rate from the sidelines." -Tim Little
"Concentrate on making your company run itself, not needing you in it. Once you do that, you can start another adventure." -Michael Mannino
"Cost segregation supercharges depreciation, providing tax-free income. Multifamily distinct returns make it unparalleled. Consult your tax advisor." - Tim Little
"Not paying taxes, perks your interest when you're paying a lot of money in taxes here. The problem with making money is you have to pay a lot of money in taxes." -Michael Mannino

Connect with Michael Mannino

LinkedIn: Michael Mannino
Website: Reciprocity Capital Group
Email: [email protected]
Telephone: 248-202-7357

👉 Connect with Tim

Linkedin: Tim Little
Instagram: @tim_at_zana
Email: [email protected]
Visit www.ZANAinvestments.com for more info on Tim and how you can passively invest in multifamily real estate
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https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497

02/15/24 • 33 min

Journey to Multifamily Millions - From Building to Flipping to Multifamily Mastery with Michael Mannino, Ep 83

Transcript

[00:00:00] Michael Mannino: Buying a multifamily is difficult. you gotta learn, you gotta learn how to underwrite the deal. And that's probably one of the hardest parts to do. Understanding what you're going to make. When you buy the property and know that you're correct on it, it's probably one of the hardest things to do. Once you've got it and you've bought the property, you want to add value. I'm sure a lot of your listeners do the value add. Which is amazing, which is absolutely awesome.

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