Powerful Real Estate Strategy After a Major Fall with Mike Morawski

Question is, are you going to wait now? Are you going to get in now? Because here's the thing that happens along the way. Real estate goes up in value.

Real estate will appreciate if you can be in a positive yield, cash flowing position today. Even if it's a little bit, it will go up in value.

Welcome to Truly Passive Income. I'm Neil Henderson.

And I'm Clint Harris. And today's guest is Mike Morawski.

He's a real estate investor, author and Coach with over 30 years of experience and 450 million in real estate transactions. He's the founder of My Core Intentions and host of Insider Secrets. But really sets Mike apart is his comeback story.

From building a $100 million firm to losing it all serving time in federal prison. Now he's using those hard earned lessons to help others build resilient wealth through multifamily real estate.

I had a chance to connect with you, Mike, recently when we did a podcast interview together. And I was really excited to get you on our show.

What I didn't know is that you were going to be in town and, and then we're going to get the chance to do it in person. So I always prefer connecting with people in person, having the chance to look each other in the eyes, shake hands.

So thank you for making the trip and thank you for being here. We're really excited to talk to you. How are you today?

I'm great, thanks. I appreciate you guys having me on. Neil, nice to meet you.

And Clint, I know when I had you on my show that we connect, definitely connected and wanted to continue the relationship. So by being live with you, I think just makes it more powerful.

Well, thank you. I'm sure you got great rave reviews from both of the people that listened to my interview. So thank you for that.

There were three.

Okay.

All right.

Somebody listened to it twice. That's good. Listen, Mike, tell us what we don't know about you, your background. There's a lot to unpack here. Right. And there's a lot of lessons.

I want to talk about the real estate stuff, but I also know you as something that has a lot more to share than that.

Yeah.

Tell us what we need to get started with this interview.

Yeah, so a couple of things. You know, real quick. I didn't grow up in a family of entrepreneurs. Uh, real estate was not in the family background at all.

And you know, I don't really know how I ever got intrigued by real estate. I went, I was in the construction business, building 25 room additions a year as A residential general contractor and burned out on it.

You know, I was fortunate enough to have somebody knocking at my door to buy the business. I sold the business, thought I was taking a year off.

But as an entrepreneur we all know that, you know, you do everything in the business and it's really, really hard for somebody who's got an entrepreneurial spirit to take any time off. So I went and bought a couple two flats, started to rehab those.

I met a real estate agent along the way who was really successful at the time and wanted to do what he did in the business and you know, worked with him, learned how to do the business, went into real estate, residential sales side. My first nine months in the business, sold 78 houses.

Wow.

Went on to build a team selling about 125 houses a year and did that for about 12 years consecutively and then went in the apartment business. So I always tell people, I say hey, you know, I didn't want to just go in the apartment business one day. It was something I always had dreamed of.

I did a lot of work for a couple of large apartment syndicators. And for those listening, syndication is nothing more than bringing a large group of people together.

Buy a real estate asset and everybody pulls real resources together. Experience, knowledge and money.

And so I knew by going in the business that you could buy a lot more real estate by raising private capital and marrying it with a great real estate deal.

And so I went in the apartment business, syndicated my first deal and fell in love with the business and just have been in the apartment business ever since. Scaled $100 million company over a 30 month period.

I mean and you know, we had devaluation in properties of 47% and occupancies dropped from 92, 93% down to 67, 60. It's a hard storm to weather.

So we, you know, I had devised a scheme to move money from profitable companies to non profitable companies, leaving a paper trail along the way.

My accountant and my attorney both said it's okay to do that, leave a paper trail when the markets bounce back, put the money back, which I did and you know, wound up getting charged on wire fraud and mail fraud charges for non disclosure. So you know, Neil, if I would have come to you and said, hey, we're going to do this. And you said, okay, great.

But because I didn't tell you about it, I got in trouble. You know, we're in a business that we're held at a very high transparency. So, Clint, if you give me $5, I need to be accountable for that.

And where did it go? What am I doing with it? How am I using it? And I wasn't doing that with our investors.

So I wound up being charged on wire fraud and mail fraud charges and got sentenced to 10 years in federal prison and served about eight years of that.

Wow.

And the unfortunate thing is that often these regulations that we operate under, ignorance of the regulation and the law is not, it's not an excuse.

Yeah.

They always say ignorance of the law is not a defense, you know, so.

And you know, it just, there were some other things that went on that, you know, I always tell people, I tell my story and there's five things I always talk about. One is I grew way too fast as a company who builds a company, a hundred million dollar company in 30 months.

I'm a little bit of an overachiever, you know, so I, you know, I grew way too fast. We scaled, we were unstable in that growth. I was over leveraged.

So I had $60 million worth of real estate that we owned at 85% loan to value, where I coach people today in my coaching business that you should be at least 65% LTV. And then I was under capitalized. I had a hundred people working for me.

I'm wondering how I'm going to make payroll, you know, so I had to, you know, always scrambling for that. And then I didn't pay attention to the details.

You know, a decade ago, the talk of asset management and I firmly believe deals are made and broken at the asset management level today, whether you're in a self storage business, whether you're in the apartment business, and if you're not paying attention to the details, the numbers along the way, that's where problems happen. And you know, I thought I had a team that was handling all that and I didn't pay enough attention myself.

And then the fifth mistake I made was I didn't listen to people around me who came to me and said, hey, I don't trust what's going on. I don't like your partner, I don't like this. And you know, I didn't listen. I was always of the fact, hey, I'm okay, I have this under control.

I, my mentor of mine says calls the three immutable laws of real estate investing, which is invest with long term low leverage debt. So no fixed rate and no variable rate debt. Be careful of how leveraged you are.

Invest for cash flow, which I can say, as developers, we kind of break that rule. And then three have sufficient cash reserves to weather the storm. Would paying attention to all three or any of those three have saved you?

Yes and no. And I say no because you have to remember.

So one of the, I'm a market driven investor and I really have to be in a market that makes sense before the real estate makes sense.

So you could bring me a great deal in Chicago and I wouldn't look at it just because the fundamentals for being a landlord and a business owner in that market don't make sense.

And in the Ohio Valley at the time, there were two major employers. You had distribution, so UPS and dhl, and you had auto manufacturers.

And the auto manufacturers made parts, so they made knobs for radios, they made seat cushions, they made springs, they made dashboard liners.

And as soon as the auto industry got hit, the transportation industry got hit, all those businesses in those towns that we owned assets in got wiped out. So people had no money to pay rent, they skipped on leases, they moved out. So our occupancy dropped from the 90 percentile into the 60 percentile.

Occupancy wiped us out, first of all. And then, you know, we're in a business that's, that's generated by noi. So that net operating income dropped substantially.

And because of the drop in noi, it caused values to drop. So you fought a war that was, you know, hey, I'll give you a discount on your rent, right?

I'll give you three months free, or I'll give you six months 50% off. And at the end of six months, people would move because the rent increased.

Then the normal rent rate and they couldn't afford it, they moved down the street. So we always had. It was a terrible fight. And because of the values dropping so much, you know, you just couldn't substantiate.

So there's a couple things here.

Yeah, the, the leverage is high and there's a few other things that in retrospect you would like to do that differently, but the reality is you felt like you're pretty stable there. And a similar example is that we do self storage and we don't use any variable rate debt, so we're safe and secure. Right.

Well, three years ago, when the interest rate shot up higher and faster than they ever have in history, even though we are protected, and we've watched this bloodbath that's happened along commercial real estate for anybody using variable rate debt, if they couldn't reposition and lock that in before it shot up, especially bridge debt or mezzanine debt, people got in real trouble. And we thought, well, we're protected because we use fixed rate debt.

What we didn't know was gonna happen is that the housing market is effectively gonna freeze that 56% of the population has a primary residence mortgage rate of 4% or less.

Meaning even if you're going to try to go downsize to a smaller house, so you got a $500,000 house and you're moving to a $400,000 house where your new mortgage payment is going to be fifteen hundred dollars more than if you just stayed put.

Right.

So the housing market effectively got frozen and the number one drivers for storage are moving. Right. So what had been a steady lease up for 30 years at 3% per month occupancy dropped to like 1.4%, 1,2%, 1.6.

It's never the things that we see coming that get us. Right. It's the landmines that you don't know are there that you're going to get there.

And I think the best way to learn about things like that is to talk to people that have been through it before and really work hard to try to identify how to learn from other people's mistakes or corrections in the market and get ahead of it. So there, I think there's a lot of lessons to be said.

There's, and we all should take very to heart what you just said about leverage, time, everything else. I want to lead it in another direction.

I certainly don't want to pigeonhole you in terms of the time that you spent in federal prison, but I also think there's value there in that conversation.

So I know you, we've had conversations of you as a coach, and I know some of the value that you bring to people as a coach and you coach investors about being very intentional in terms of time and strategy, maybe I'm crazy, but I really want to hear about time from someone that had some of that taken away. I think that you probably have. I put a lot of value on time because I have two young sons and a wife that I really like to spend time with.

We were best friends before we started dating for years and then we eloped. We've been married for almost 14 years and now we've got a five year old and a two year old. And time is very precious to me.

I bet you it's probably even more precious to you because you know what it's like to not have access to that.

So when you coach people about being intentional with time and strategy, especially for someone starting out, what does that look like in practical terms? What do you mean by that?

So, you know, time is extremely important and it's one of the biggest, most valuable assets that we have as a human being, right? And people closest to me today know that I am very hard on myself. And I always tell people, I say I lost 12 years, right? I just.

12 Years of my life totally taken away. You know, I'd gone from having this great success to having it all wiped out. And you know, it was an ego check and a pride check.

And you know, today I value that time more and I work as hard as I work then, but I still don't work as hard. I like to play too. You know, it's like me being out here by you, right?

I'm at one of my good friend's house, spending a couple of days by the beach and just kind of hanging out and you know, going to totally unplug for a couple of days because you need that as well. You know, there were a couple of things in what you just said. One, talking about the debt, right? Fixed rate versus variable rate debt.

I don't know that anybody should be doing variable rate debt today.

And you know, if you don't have the capital to do buy downs or lock in interest rates tomorrow, you shouldn't be doing it today because that's where people are getting in trouble at today's market. I like to wake up every morning and know that my fixed rate debt, my mortgage payment is the same every day for the next 10 years on that asset.

So, you know, so I hope I answered the time question though for you.

I might need some more coaching on that, but we'll do that.

Well, here, let me say this, I want to talk about, you know, so that happened, that's what happened. And you know, it's not what happens to us, but it's what happens for us.

Absolutely.

And I'm a firm believer of that. And I don't know that I believed that before I went to prison, but I believe that today. And so I have to look at what I did while I was gone.

Right, because there's a redemption story here. Yeah, I got wiped out. I lost $100 million company, I lost my family.

I have three of my five kids that don't talk to me anymore, you know, and that's my biggest regret of the entire thing. But I did a lot while I was gone, you know, so, you know, here I am. And I always tell people, I say, look, I never flew private.

I didn't have a boat, I didn't live in a big house, I didn't have a fancy car. I was the neighborhood base coach. I was home most nights for dinner.

And I got ripped from that to live in a 12 by 12 room with three men I didn't know, nor did I. Like wondering what the hell happened in my life.

I'm in prison about six weeks and figuring out how am I going to get through today with much less 10 years of this? And I'd gone from running marathons to being 35 pounds overweight. I hated myself, Just didn't know what to do.

And I walk in the gym one day and when I walk in the gym, this kid walks up to me and I say, kid? Because he's 25 years younger than I am and he walks up to me and he says, hey, don't let these people beat you.

All they want to do is take from you everything you've ever known. They can destroy your business, they can take your family, but what they can't take from you is who you are and what you're made of.

And I think that's our greatest asset is what's inside and our values and what we want, right? And who we are and our knowledge. He said, you can go back and build that hundred million dollar company.

He goes, what you need to do right now is take care of yourself. And a lot of times when we have a lot going on, the biggest factor is taking care of ourselves.

You know, when you're on an airplane, what do they tell you? They tell you put your air mask on first, right? And then put your kids air mask on. Are the people your loved ones around you.

And you know, you have to think about that, right? Because it comes down to your personal and your mental well being over and above anything else before you can Help or do anything for anybody else.

So I'm in prison. This guy says to me, he says, you know, don't let these people take everything from you. He goes, you can get it all back.

He goes, come to my class every day. Start working out. You'll start to lose weight. You'll start to feel better. You'll get your sense back about you.

And, you know, I don't know what happened, but I think we're all faced with these defining moments, and, you know, it was like somebody flipped a switch. And I said, okay. And I have no idea why I said yes. But I started going to his class. I started losing weight. I started to feel better.

I wound up going to college. I got a bachelor's degree in theology. I went on. I wrote two books. I wrote an ethics course.

I taught real estate investing, property management, and ethics in prison for six years. And how ironic. A federal inmate teaching ethics in federal prison. Right? And I was on an outreach program. I went in the community.

I told my story to small business owners and college students. Wound up writing a paper that got published in the business journal of ethics.

Gets taught at the collegiate level today for forensic accounting and sales and marketing classes. I came home and I thought I was just going to go into coaching and training business, which I did, which I still am, but.

So what happened along the way was I started underwriting deals because I knew I was going to have to teach my coaching clients how to underwrite. So I started underwriting deals, and I found a deal in Florida and went to two of my coaching clients. We wound up partnering on that deal.

But my securities attorney said, hey, I think I can get you approved by the SEC to go back and be an issuer of securities and a sponsor of deals again. I said, good luck, because they never do that.

Three months later, she came back with a written approval that said, you know, this has to be in every one of your PPMs that you ever put going forward.

And I'm back doing what I love to do, which is teach people how to do what I do and buy, you know, real estate deals and raise capital, whether they're apartment or light industrial or.

That's amazing.

Wow.

What a. What a true redemption story. That's incredible. And one of the books that you wrote is. Was that Multifamily investment secrets.

Was that one of the books you wrote while you were.

That's actually the third book I wrote. Multifamily investment secrets, your explosive guide to wealth and multifamily real estate. Sorry, I only brought one Copy.

So you guys will have to share it.

Listen, thank you. So I appreciate that. And for those just listening, Mike brought me a hard copy of the book. So I appreciate that.

I'm going to make you sign this before you leave today. Absolutely, I appreciate that.

Amazon bestseller. Seven times domestically and three times internationally. And so it's a great how to book, how to do this business.

That's amazing. Well, well, in that book, shifting a little bit. And I want to say, like, I totally agree with what you said.

One of the things I say a lot is, like, it's not when bad things happen, it's how we deal with it now that doesn't clear us of responsibility.

Right.

So we have to learn from that. We have to get better.

And I'm not saying that that it does, but, you know, it's one of those things that everything in life, we can decide if that's the end of the story or if it's the beginning of the next chapter. Right. And so kudos to you. It's. It's amazing. Thank you for your willingness to share that, by the way.

Yeah, you bet. You bet.

Being. Being raw like that, it's. That's where the value is. So thank you.

So I agree with everything you just said, and it's really important that I share my story, because every time I tell my story, there's somebody that's affected my goal. It doesn't change anything I did. And I take full responsibility for my actions, and I'm sorry for my investors that did lose money.

And, you know, as I said, my biggest regret is my kids that don't talk to me. But here's what I know. Every time I tell my story, somebody's affected.

So I know there's somebody that's going to listen to this podcast that's going to go, holy shit. And I've had people walk up to me after being on a live stage, say, you know, I was doing this in my business.

And after listening to you, I've decided to go back and do this. So I know I've made major impacts in people's lives. I've had people walk up to me and go, my brother went to prison. My cousin went to prison.

I don't know how to deal with it. How do you deal with it? So there's been a lot of people that I affect over the course of being able to tell that story.

I have no doubt, boy, Neil and I, you'll see us giving hand signals back and forth. We're stacked up with questions here. Do you want to go next or you want me to go for it?

Well, I think what's so powerful about your story is, you know, I say this a lot. There are a lot of people struggling right now in this country, all around the world, you know, and.

And there's a lot of people, you know, you go out on social media and you'll hear complaints after complaints after complaints. Housing, Housing's too much. People are, you know, the job. Jobs aren't paying enough, and yada, you know, anything under the sun.

And something I often say is, there's no Superman coming to save you. And what I mean by that is, you know, often what we look around is, you know, we look. We're looking around for a politician to change our.

To change our lives.

And I would say if you look in Washington right now and look at, you know, and I'm not saying left, right, you know, you're hoping that the government's going to come in and pass programs that are going to help you, or you're hoping that the right is going to get in there and get rid of regulations that are going to help you. There's no one who's going to help you faster than you can help yourself. And this is not a pull yourself up by your bootstraps because I get it.

And I'm sympathetic to people who are struggling to buy houses right now. When people come at me and they say, well, it's not fair how hard it is to buy a house right now. And I say, yes, you're absolutely right.

What are you going to do about it? Because, like, there's no Superman coming to save you.

And if, and hey, if you take responsibility for it and start to attack the problem and figure out how to do it in the environment that we're in right now, and then Superman comes along, you're gonna be ahead of the. Ahead of the game for you. You had a lot of time to think in prison. And I think you.

You reached a point where it's like, well, you know, from a famous prison movie, get busy living or get busy dying. And you reinvented yourself and restarted.

And I guess my point with all that is, one, to taking responsibility for yourself, and two, is that if you think you've got it bad, try spending 10 years in a federal penitentiary.

So everything you said is really important, right? Because I think there's a lot of people that walk around saying, poor me, you know, the world sucks. I can't buy a house.

I can't invest in real estate. I can't do this. I can't do that. I might have been trapped behind a wall. But I think there's a lot of people that.

That keep themselves in a mental prison. And, you know, and that mental prison could be past alcohol or drug abuse.

It could be past sexual abuse, it could be past physical abuse in a relationship.

It could be a kid that grew up with a single mom that, you know, things didn't work out, or you got to say, screw it, and you have to say, I'm going to go do this. And not everybody can do that, but everybody could do it if they chose to. And it's not easy.

You know, I don't know that I'd be where I'm at today if I didn't have people in my life that were my coaches. And I've been personally coached for 20 years and still have a coach in my life today. I don't know that I could do it on my own.

I need somebody to be accountable to. I need somebody to challenge me. I need somebody to stretch me. And I think that's what coaching does. And, you know, coaching's not therapy.

You know, if you need therapy, go get therapy. But if you need somebody to help you in your business, go get somebody to help you in your business.

I might not be that fit for you, but I know I could help you. The other thing I want to say is that, you know, there's no geniuses in this business.

There's market cycles, and we're just in the downside of a market cycle right now. That makes it feel terrible. But here's what you have to know. Spring is coming, and when we start to cycle up, everything is going to change.

This is a time in life and history that I have always said, man, I want to be in front of that next run. I've missed a couple of them. I missed one because I was gone, right? But I've missed a couple of them.

And I've always said, if I could just be in front of the next run and have the wind at my back, I know that things are going to. We're going to see one of the largest redistributions of wealth this country's ever seen. And that's happening right now.

And people that are sitting on the sidelines saying, oh, I'm going to wait, or interest rates are too high. Heck, I got in real estate, interest rates were double digits. You know, when somebody tells me a 6% interest rate is too high, I laugh.

When I got in the business, real estate interest rates were 10% coming out of double digits. And I used to say, boy, I Wish they'd go to 3% where my parents bought a house and it did that.

But it took 50 years and it'll probably take 50 years to get back there again. So the question is, are you going to wait now, are you going to get in now or are you going to wait till that happens? Right.

Because here's the thing that happens along the way. Real estate goes up in value. Real estate will appreciate if you can be in a positive yield, cash flowing position today.

Even if it's a little bit, it will go up in value.

It's that classic scenario of you in a wait and buy real estate or you're going to buy real estate and wait. Right. It's a very forgiving asset class. This is a good pivot point and there's a lot of different directions we can go.

And I want to end our segment today talking about your coaching, but we're not there yet. Before we do that, I want to get into some nuts and bolts.

And in your book Multifamily Investment Secrets, you talk about creative financing, buying deals with little or no money down. I want to go into that a little bit because you talk about variable rate debt being something that can trip you up right now.

We have a lot of people sitting on the sidelines right now.

And if you're just looking at the economics of a deal right now, there are a lot of things that don't pencil, but there are a lot of additional contributing factors that people are not using as part of their equation. We talked before we started recording about the new bill that was just passed by this administration that brings back 100% depreciation.

It brings back qualified opportunity zones. And I know that you focus and you coach on things like buying with little money down, creative financing.

You talk about incentives like tiffs and tax credits and pace. Talk to us more about about that.

I want to hear about these are you have tools in your tool belt that the average person doesn't have or doesn't utilize. And when you have tools that not everyone has, you can accomplish things and do jobs that most people can't do.

Right.

So when you're looking at a property, it's like, you know, everybody says that there's no sure thing but death and taxes. Well, I'm not so sure about taxes these days. And some people are crazy enough on Facebook to talk about death maybe not being a sure thing either.

Right. But the reality is like I'm watching people move the goal posts on some of These deals, it's not just the price and the interest rate.

Oh, the price and the interest rate. And what can we get for it when we rent it out? That's going to determine everything.

Some people, when you hear hoofbeats, you think horses, Right? Some people hear hoofbeats and think zebras. You've got these extra things that you know about and that you've practiced that most people don't.

Give us a glimpse into your world as to what that looks like and some of the different tools that you have and that you utilize and that you coach on.

First of all, you have to be curious. You always have to be asking questions. And I ask what if all the time. Right. I think that's what tripped me up before, is I didn't ask enough.

What if, what if you can't raise rents? What if construction costs more? What if tariffs happen and costs go up? We what if, what if, what if?

You have to be curious all the time when you're looking at a deal and when you're operating a deal. Very important. Because if you're not continually asking questions, you're missing opportunity as well as missing potential hazards along the way.

I do talk a lot about creative financing. You know, if you buy my book Multifamily Investment Secrets in there, I talk about a 450 unit deal that we bought basically no money down.

And I teach how to do that. But I bought deals that were single family houses, four units, all the way up to 450 units.

We bought a deal last year, a 65 unit multifamily deal, that the owner was in distress. He was 60% occupied. He ran out of money, couldn't put any more money in the deal.

We knew if we came in and put an injection of cash into the property and took over operations, we could get the occupancy up. So we came in, he held paper. We had an underlying mortgage. First of all, we bought the deal at $800,000 below market. We negotiated that low.

He had an underlying mortgage of, let's just call it $3 million, and we assume, quietly assume that mortgage, under 4% interest. So I'm already in a positive yield position. Seller held paper on a million dollars, no interest and no payments for 10 years.

Wow.

Kind of Hard to beat it.

Holy smokes.

Yeah, we came in, we put, you know, half a million dollars in cash into the property, rehabbed a bunch of units, got the occupancy up to 80% today, put a new roof on the building, changed the curb appeal, cleaned it up and now it's operational. Right. And now will be collecting, you know, be able to turn the corner to stabilization. But these are the types of things that I love to do.

And in today's environment, those opportunities exist a lot.

Well, and it sounds like what you're doing, you know, they say in some markets, especially, especially hot markets, but even into down market, is that deals aren't found, they're made.

And I think that's very often sort of the creative, creative deal structure mantra, which is, listen, there's a price and a structure at which point this deal works. And the trick is to figure out how to structure it. And to me that's where creative deal structuring comes.

A lot of times you gotta get the seller to the party and a lot of times the seller doesn't understand that. But if you can get the seller to the party, a lot of things can happen on both sides.

I always try to create win win because if I walk away and you're happy and I'm not, it's not a good situation. And if I walk away and I'm happy and you're not, that's not. Both parties have to be happy.

Yep, win win for sure. And sometimes that means you win first and then I win. Right. It's, it's not just a win win.

Sometimes it's order of operations and making sure that other people, they're going to feel more comfortable if they put their interest first and then yours. And sometimes it's, that's the real trick.

And I think these days, Warren Buffett said is a, it's a funny quote that you can't tell who's skinny dip until the tide rolls out. It's times like these when the tide has rolled out on commercial real estate. The people that are still operating right now are a different breed.

They know how to connect with sellers in a more meaningful way. They are better at identifying what the needs are of the sellers and then structuring it.

Not just so that they win, sometimes that they win first or understanding what their, their motivation is to help them accom what they were trying to accomplish. And the people that are able to put those pieces together right now are a different breed.

And if you can operate in this type of environment, we all know you can operate when everybody's looking like a genius because the tide's on the way up, right? So there's that. For the sake of time, we're gonna have to make a little bit of a transition here as we. We head towards closing this thing out.

I don't want to. But for your sake of your time, ours and the listeners will start wrapping it up. I'm gonna let Neil ask the last question that we ask everybody.

Before we do, I want to hear more about your coaching. Tell me a little bit about your coaching program, what that looks like for someone interested, and, you know, what type of coaching you're offering.

And describe to me the perfect person coming to you for coaching and what problems they're trying to solve in their life.

Yeah, thanks for asking. I coach a couple different types of people, right? I coach the person who wants to come in the multifamily business.

Maybe they've done single family, maybe they've done fix and flips. Maybe. Maybe they've been in the wholesale business. Maybe they're just coming into business.

But I teach people all the fundamentals, and there's 38 or 40 different things that we go through teaching them how to syndicate larger and even small multifamily deals. And, you know, I have two programs.

I have an inner circle program, which is a group program, and I have a partnership program that I work directly with people, one on one, hold their hand, help them get their first and second deal across the finish line. So that's what I do on the multifamily side. But I also work with a lot of business owners that need headspace help.

And again, I'm not a. I'm not a therapist. I'm not a. I'm not a counselor. I'm a coach. And we do a lot of strategic business development. And, you know, here's the thing about coaching, right?

Is I'm not just coaching you, but you're coaching me. It goes both ways. We learn from each other.

That's why I've been in coaching as long as I have been, because my coach learns from me, I learn from them. And every couple years, I change coaches because you get stale. You build too much of a relationship. So coaching is really important.

And if anybody is looking for some guidance, some insights and mentorship, reach out to me. Let's talk about your situation and see if I'm a fit. I might not be your fitness, but somebody out there is.

That's great.

Where.

Where do people find you?

Great question. Thank you. Hey, anywhere you hang out on social media, Instagram, Facebook, LinkedIn, YouTube, you can find me.

I have a couple podcasts, Multifamily Unplugged and Insider Secrets on Spotify and YouTube. And I. You can reach me directly. I love to network, I love to connect. So you can either reach out to me on any one of those platforms or.

Or directly@mike morawski.com.

Love that.

All right, final question we ask all of our audiences. Is there any book aside from your own that you find yourself recommending again and again to friends and colleagues?

Yeah. So I read a book about a year ago that I absolutely love and it's called Winning and it's by Tim Grover.

Tim Grover was the personal coach for Michael Jordan, Kobe Bryant, LeBron James, and you know, if you need a good at butt kicking, that's a book to read because it'll get you up off the couch. And I refer back to it over and over again. I mean it's colored highlighters and dog eared pages. And so it's a great book that,.

That my, the group of guys I work out with right. Are reading that book right now and it is, boy, it is a mentality shift. It'll blow your hair back. That's a good one.

So usually at this point I would ask the best way for people to connect with you. You just shared that. We're gonna make sure that's in the show notes as well.

So instead of asking that here, what I will say is that I just want to say thank you for coming here, especially coming here in person. Chance for us to connect and I really appreciate the candor and dropping the veil.

There's a lot of lessons there and you learn them, you learn some of them the really hard way. And the fact that you're willing to share that with, you've shared them before with me.

The fact that you're willing to share them today with Neil and myself and the listeners, I appreciate that more than you know. So just want to say thank you. I appreciate your time today and thank you for coming on the show.

I appreciate you guys. Thanks for having me on and I certainly hope that I made an impact in somebody's life today.

I have no doubt that you did. Thanks, Mike. Look forward to staying connected in the future.

Absolutely. Thanks, Mike. Thank you so much for listening and watching the Truly Passive Income podcast.

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And remember, with truly passive income comes freedom of time, place and the freedom to pursue your higher purpose.