REIClub | Real Estate Investing Podcast - ROI = Return On Integrity (Mike Singletary)

ROI = Return On Integrity (Mike Singletary)

03/02/23 • 24 min

Mike Singletary is a rare type of person. First as a bald, straight hairdresser. Then as a real estate investor who would lose money to keep his word.

Mike was so excited to get his first wholesale deal under contract that he sold it to the first cash offer he got. And when the second offer was a 10X bigger assignment fee, he knew the COST of breaking his word was much higher than the PRICE of the bigger assignment fee.

So he honored the deal with the smaller fee and kept his reputation intact. His worst deal cost him over $100,000 which he took in stride because he knew the future value of his relationship with his lender was worth much more.

And he was right.

Mike Singletary is the head of SkipForce and ISA Pros, two companies born out of his own investing business that he now shares with the world. See how SkipForce is much more than a skip tracing company https://reiclub.com/skipforce

Watch This Video on REIClub.com: https://reiclub.com/real-estate-podcasts/return-on-integrity-mike-singletary

Mike Singletary is a rare type of person. First as a bald, straight hairdresser. Then as a real estate investor who would lose money to keep his word.

And he was right.

Watch This Video on REIClub.com: https://reiclub.com/real-estate-podcasts/return-on-integrity-mike-singletary

Previous Episode

From Wall Street to Arby's - Brad Gibb goes all-in on Real Estate

We all felt the effects of the Great Recession of 2008, but few of us had a front row seat to the chaos and the pain it caused. Brad Gibb is one of those people. In 2007 he had just landed his dream job at Goldman Sachs and felt like he was on his way to achieving the American Dream.

Then it all came crashing down on a crisp fall morning in 2008.

As Lehman Brothers collapsed, so did Brad's trust in Wall Street. All of a sudden, contributing to a 401k for 40+ years and hoping it all went well didn't seem so smart. So Brad left Wall Street and started flipping houses.

But after one too many nights eating Arby's 5 for $5 roast beef sandwiches and sleeping on the floor in his property, he realized fix & flipping wasn't all rainbows and unicorns either. So he set out to plot a better course to financial freedom through real estate.

With over 1,000 students who now own over 60 million dollars of real estate that is generating over 1 million dollars per month of passive income, it's safe to say Brad & his partners at Cash Flow Tactics have charted a pretty good course.

But you've got to listen to hear how they got there.

https://reiclub.com/cashflowtactics

Next Episode

Quitting a 6-Figure Salary Isn't Easy (Daniel Kong)

A lot of us get into real estate investing to build more wealth or achieve more financial freedom than a regular job can provide. But even when your real estate income is more than your W2 salary, it's hard to quit your job!

That's what Daniel Kong experienced as his real estate career took off. He was ready to quit his 6-figure Software Developer job, but the safety & stability of the guaranteed paycheck was hard to walk away from. Realize it or not, society pushes us to seek stability over success.

Luckily, Daniel was crushing it using the BRRRR strategy and eventually the math just didn't add up. So his wife told him to quit his job and go all-in on real estate just 3 years after starting.

Now he's moving from fixing & flipping homes into multi-family syndications. He's taking his cashflow to the next level and giving his investors the passive income and tax breaks they're after.

Chapters:

00:00 Daniel Kong's life before REI

02:30 Salary & Stability over Success

05:30 Daniel's 1st Real Estate Deal

08:45 Daniel's WORST Deal

11:16 Advice for Growing Real Estate Investors