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Real Estate Runway - Chad Sutton - Insta
S1E30: Scaling to $7M in 5 Years before the Age of 30 with Tyler Mikolajcik
November 24, 2021 37 min
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Episode Description

We all know mindset plays a huge role in success, but the power to scale to 7-figures before you’re even 30 years old? Tyler started in real estate at the age of 21, just flipping houses. After 5 years, he got into the multifamily space. Even with all the experience in house flipping, he noticed his wealth grow to seven figures in a short time in multifamily (bootstrapped), a goal he could never reach through flipping! People in Tyler’s marketplace know him for getting deals that nobody else can get or no one else will. He now shares his tactics and helps others build wealth through coaching and mentorship. Tyler is one guy you positively need to learn from! So let’s get into the conversation to learn how Tyler, through mindset, strategy, and networking, scaled to $7M before the age of 30.

Getting to know Tyler Mikolajcik - [00:01 – 05:27]

  • I introduce Tyler Mikolajcik to the show

  • Bio

  • Tyler shares a bit of his background

  • Starting in 2012 till now
    Tyler’s venture into multifamily
    Investing and building multifamily without syndication
    All real estate is not created equal

Scaling to $7M in 5 Years before the Age of 30 - [05:28 – 28:13]

  • How Tyler shifted his mindset to overcome the fear of getting into multifamily

  • Always taught to work hard - shifting to want to work smart
    Mentorship through books and resources
    The information is out there, you just need to look for it

  • How networking ultimately led to Tyler’s success

  • Being around the right people is huge

  • The importance of mindset and direction

  • You need to set your intention

  • Getting into the strategies and tactics behind Tyler’s real estate success

  • Getting the rehab down first without sacrificing quality
    Negotiating with contractors - work to earn it
    Building up relationships with suppliers to drop material costs
    Transferring the knowledge from flips over to multifamily
    Stopping holding costs from eating your profit

  • Grab your ticket to the MFIN Summit at mfinsummit.com Use promo code QUATTRO!

  • How Tyler became ‘The Deal Guy’

  • The key is good negotiation
    Getting in people’s facing
    Doing the things no one else is
    Match the energy of your prospect
    The negotiation starts at ‘no’ not yes

The Quattro Trio - [28:14 - 36:43]

  • What is your superpower?

  • Closing and executing the deals no one else does

  • What was your biggest failure?

  • Not executing on certain deals
    Buying in the wrong location

  • How do you give back?

  • Helping people get in the place to take on more risk
    Working hard now to give back when you’re older
    Tyler’s mentorship program
    Links below

  • Final words

Tweetable Quotes:

“My mentorship was books. I just needed some inspiration, I already had ‘it’, you know, the motivation. I just needed someone to say, hey you’re doing the right thing, keep going.” - Tyler Mikolajcik

“You set your direction, you have to believe you’re going to have that… You have to set your intent first, then your actions will follow.” - Tyler Mikolajcik

“I hit the ground running because I know no one else is doing it. I’ll do everything that everyone else is NOT doing.” - Tyler Mikolajcik

Resources Mentioned:

Want to connect with Tyler? You can follow him on Instagram and LinkedInhttps://coaching.tmentorship.com/schedule and break free from the obstacles in real estate to scale.

Have you heard about the Multifamily Investor Nation Summit, coming up on January 20th?  If you've never been, it's a three-day information-packed event for multifamily investors, with over 1,000 attendees and over 50 speakers!  Not only will we hear from experts about finding deals, raising capital, underwriting strategies, selecting markets, and so much more...But this year our partners here at Quattro Capital are excited to be participating with three speakers at the event. Our amazing Kim Wendland will be speaking on the often neglected subject of asset management, how to make the machine hum, while our most-interesting-man-in-real-estate Maurice Philogene will be speaking on how to leave your corporate job for a freedom lifestyle. I, myself, will even be speaking on the topic of how to perform due diligence on multifamily assets before you purchase them and the not-so-common things to watch out for. Go to mfinsummit.com to grab your ticket and use promo code QUATTRO to get $100 off of your full access pass!  Whether you are new to multifamily investing or a seasoned investor, you do not want to miss this event. Join Team Quattro at the Multifamily Investor Nation Summit.

Visit mfinsummit.com promo code QUATTRO... That's mfinsummit.com promo code QUATTRO.

Check out Syndication Pro and learn how you can raise more capital in less time! https://syndicationpro.com/account-setup?fpr=quattro

Join the MFIN Summit and use our promo code: QUATTRO

LEAVE A 5 STAR REVIEW + help someone who wants to explode their business growth by sharing this episode. Find out how team Quattro can help you by visiting www.TheQuattroWay.com.

Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.