Michael Albaum - Two Fires in The Same Building

Is a fear mindset holding you back from success? In this episode, Nathan talks with Michael Albaum, a former fire protection engineer and now a veteran real estate investor with experience in everything from single-family buy-and-hold to commercial real estate, NNN lease, and short-term rentals. He invests in the USA as well as internationally. Michael is also the head coach of the Rooftstock Academy and primarily lives out of his van with his wife as they travel the country. Michael talks to us about how he found success in real estate and overcame not one but two fires in the same building he was rehabbing from a distance. It nearly destroyed him, but he tells us how he returned stronger on the other side. He walks us through the meaning of success and how you can change a fear mindset into a success mindset, turning your dreams into reality. HIGHLIGHTS FROM THE EPISODE 0:00 Coming up 0:11 Intro 1:00 Welcome Michael to the show 1:30 Michael’s story- how he found success in real estate investing 3:27 His saving rate before he started investing 7:00 His first investing story and how he was able to scale quickly 7:57 What success means to him 9:50 Will his definition of success change in the future? 12:54 what is his worst-case scenario, and how does it shape his decisions 14:00 How he overcomes his fears when investing in new asset classes 15:22 His most difficult experience and what he learned from it  21:28 You can't be enamored by the shiny end product because there is everything in between 23:20 If he could go back in time and fast-track his success, what would he do differently 25:36 How to change a negative mindset into a success mindset 28 How Nathan and his family help keep a positive perspective by saying what they are thankful for 29:00 Your brain looks for what you focus on 29:28 One secret that helped him unlock his success 32:09 Book recommendations 32:51 Tool, tech, or app recommendations 34:07 Help and connect with Michael 35:20 What is Roofstock academy? 36:49 Final thoughts LINKS FROM THE EPISODE Roofstock Academy: https://www.roofstockacademy.com/ Stessa: https://stessa.com/ Book Recommendation: The Go-Giver by John David https://amzn.to/3NXEJoi Book Recommendation: Give and Take: Why Helping Others Drives Our Success by Adam Grant https://amzn.to/3hyKdtk Our favorite deal analyzer - DealCheck (PROMO CODE: UNDOOR): https://dealcheck.io/?fp_ref=n8m28 CONNECT WITH THE GUEST https://twitter.com/MichaelAlbaum Remote Real Estate Investor Podcast: https://remoterealesateinvestor.podbean.com/ Roofstock Academy: https://www.roofstockacademy.com/ CONNECT WITH THE HOST Nathan Murith is a husband, father, technologist, remote real estate investor, coach, and podcast host. Get in touch with Nathan: https://undoor.com/links Follow us on social media @the.gentle.art.of.crushing.it Listen, like, subscribe, comment: http://thegentleartofcrushingit.com/