Michael Young started grinding hard during his college years and learned to take over the family business while also selling real estate full time at a high level. Michael and his father did extremely well building and developing mobile home parks in Northern California. Michael used this experience as a stepping stone to building his empire to what it is now today, a thriving real estate sales business in the North San Francisco Bay area, and multi million dollar multifamily rental property firm with 500+ doors.
[00:01 - 12:23] Who is Michael Young?
Michael shares his story, how it all began and what it took to reach where he is now.Took over the family business when he was still in college after his father fell ill. Getting his broker's license and parting from his family to venture on his own, and transitioning from commercial to residential real estate.
[12:24 - 17:20] Mike Ferry Coaching
Michael talks about what makes Mike Ferry Coaching standout from other real estate coachings, why it is the best real estate training bar-none, and how it helped him push his limits to new heights.
[17:21 - 21:59] How To Become a Top Producing Realtor
Michael shares tips on how to become a top producing realtor: Learn scripts and make them a part of you, Have a strong schedule, Learn the objection handlers and the listing presentation, Have a simple, strong, held-accountable goals, and always focus on Prospecting. Michael talks about his investing goals and his vision for his business.
[22:00 - 37:49] Multifamily Real Estate
What to expect from a mobile home park run by Michael. Realizations the pandemic is opening our eyes to. Multifamily real estate as an investing vehicle: Cash Flow Tax benefits Leverage Depreciation Michael talks about cost segregation.
[37:50 - 48:03] Become Recession Proof
Always perform a Stress Test on a deal The advantages of stress tests How to become recession proof What do you think are the biggest mistakes investors and realtors made in the 2008 recession?Greed and lack of financial IQ Michael talks about his anti-recession routine and principles.
[48:04 - 51:22] Closing Segment
Final thoughts Connect with Michael online. See the links below.
Tweetable Quotes:
"I knew once I had a system, then I could run with it." - Michael Young
"It's not meant for everybody. In fact, 95% of the agents in the country should probably be getting a regular job." - Michael Young
"I know that there are always going to be good deals. There's always going to be opportunity. And as long as you are in the game, you'll score." - Michael Young