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What we talked about:
2:00 - The state of McKinley and how the business has changed over 30 years
3:05 -Why they are staying in the workforce housing market
4:40 - Why they won't be expanding to regions outside of Ann Arbor and Orlando
12:40 - How they handle rising rents
14:00 - How to improve affordable housing
16:50 - How they retain staffers
18:10 - What they are doing for a succession plan
18:55 - What it was like coming to the U.S as a refugee
19:55 - His management style and how he uses social media
22:15 - His biggest mistake in business and how he overcame it
Monique Becker and Elyse Wolf call each other "sisters since four."
They went to school together and live together. And in the last five years, the two have navigated the challenges of parlaying a lifelong friendship into a business partnership. It hasn't always been easy.
"The work never ends," says Becker. "It's really hard to have any types of boundaries."
"We definitely have other friends who have to remind us to pump the breaks on things," added Wolf.
The 28-year-olds are now developing properties into multi-unit housing and Airbnb properties in Detroit while doing their own general contracting and management through their company Mona Lisa Living. They've also purchased an 11-acre property near Mackinaw City with a lake which they plan to turn into an elevated camp and cabin experience.
"It just kind of started from that idea of really wanting a place to be able to go and rest our minds and be creative and just explore Northern Michigan," Wolf said.
Listen for more on:
1:25 - Challenges of going into business with your friend
3:20 - Dividing the workload
4:35 - Getting help from family
6:30 - Why they rebranded
7:30 - Why they chose to develop in the Virginia Park neighborhood
9:10 - What it's like to renovate and live in a duplex
10:35 - Why co-living spaces and equitable development are important to them
13:45 - How to overcome financing issues
17:15 - How their vision has changed for their company
19:15 - Why they are expanding to Up North
25:15 - Challenges of being young women in a field dominated by older men
29:15 - Their biggest mistake in business
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