Episode 14:
Mike Powell moved to San Antonio from College Station in 2011 shortly after he graduated from Texas A&M University. Mike was a full time student and working as full time Realtor in College Station Texas and sold land and commercial real estate to investors from all over the country for seven years before they were blessed to have his wife get a fantastic opportunity in San Antonio. They moved to San Antonio so Rosette could pursue her opportunity with Travelers Insurance while Mike worked as a Frac operator in the oil fields while learning the San Antonio real estate market.
When Mike was in the oilfield, he decided that he did not want to continue being a real estate agent and that if he was going to pursue his passion of real estate, he was going to be the investor instead of making all the other investors rich off of his hard work. In his first year investing he bought and sold 28 houses and started MP Real Estate Holdings LLC. Since 2012 MP Real Estate Holdings LLC has bought and sold over 400 properties that have all been funded through private lenders. Mike continually works to grow the real estate business and has been successful thanks to his loyal lenders.
What you’ll learn about in this episode:
- Mike’s business of buying at least 100 houses a year with a current investment profile of $12 million in private money
- By purchasing properties from wholesalers with private investments, how Mike is able to flip them to owner occupants and outside investors
- Hard money brokerage: another solid investment for those who have the cash
- How it’s possible to get a hard money loan even if you have no credit history and no financial history
- Why Mike only lends in-state
- Mike’s target market: people who have cash at hand and want to see their money grow
- Why real estate is substantially more concrete for many investors than “ticker tape” stocks
- How Mike has been able to establish strong working relationships with both investors and lenders
- Why it’s easy for investors today to find out everything they need about a property online
- Why Mike’s wants to get into mentorship
- Mike’s course available for those who want to get into the real estate market
Resources: