Posted on: March 01, 2021

This episode is the first part of the two-part series that talks about lessons from the legend, Mike Cantu, on becoming a Million Dollar Real Estate Investor.  He is behind Lauren Hardy’s explosive success in real estate.

Mike is a full-time Real Estate Investor and Real Estate Entrepreneur for 39 years and runs a buy or sell operation in Southern California, wholesales properties, and manages a rental house portfolio. He is the author of the first piece of real estate education for Lauren entitled Don’t Get Voted Off Real Estate Island, released in early 2009. He also offered a course that covers everything you want to know about real estate.

In this episode, Mike Cantu will dig deep into the topic to let listeners learn the strategies on how to get started with real estate when you are dead-busted-broke — starting with nothing from nothing. He will share his views on building a massive rental portfolio to become a million-dollar investor. Along with the topic, he will also share how to adapt to any market and still make money.

This series is a big one in getting investors going towards being a millionaire! Start learning the lessons here! Listen to this episode, and be sure to take notes on the valuable inputs from the legend!

Key Takeaways

  • How Mike started with real estate 39 years ago with nothing
  • How the first ten years of doing real estate went for Mike
  • The hurdles he had to overcome in starting with real estate
  • On the roughest 18 months of his career and the lessons he learned from it
  • The cycle in doing real estate business and getting through it
  • What his Parts and Tools Theory is to stay in the game
  • His view on how new investors can use wholesaling to achieve the goal of a free and clear house
  • Ways to achieve his goal of paying off his properties while paying monthly expenses

 

RESOURCES:

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Episode Transcription

Speaker 1:
Hey guys, welcome to another episode of the Wholesaling Inc Podcast. And before we get into today’s episode which is a doozy I might add, I need your help. Now, we work very hard to make this the number one real estate wholesaling podcast out there and we literally don’t hold anything back on the show. In fact, we give away more content on this free podcast than what many other people out there are charging thousands of dollars for in the form of courses and programs. And that’s something we’re really proud of because we know that there are people who listen to the show and they take what we are sharing on this podcast and they are making money with the information that we give away here.
And the podcast is free of ads. We don’t want to bombard you with a bunch of ads like so many other podcasts out there. Think about how many times have you tuned into a podcast and listened to six minutes of ads, I hate that, we hate that. So what we’re asking is that if you have gotten value from this podcast, please be a go-giver and share the podcast with someone, anyone that you know who can benefit from this information. I’m sure there’s probably at least five people that you’re thinking of right now who you can share this with. So be a go-giver and spread the word for us.
And if you haven’t by now please go and leave us a rating and review. I mean, we literally have tens of thousands of listeners now. I think we’ve only got 1200 reviews or something like that, so what are you waiting for? Leave us a rating and review if you have gotten some value from this podcast that really helps the show get in front of more people and it helps with the algorithms too.
Now, onto today’s episode. In today’s episode which is part one of a two-part series, Lauren speaks with one of her original mentors, real estate investing legend, Mike Cantu. Now, Mike is one of the primary reasons behind Lauren’s explosive success in real estate and they really go deep on this episode. So here’s what to expect from this series. You’re going to learn how to get started when you are dead-busted broke. Mike shares some incredible strategies from starting from nothing, with nothing. You’re not going to want to miss what he has to say about this.
He’s also going to share the secret to building up a massive rental portfolio and becoming a million-dollar real estate investor. He also shares how to survive a real estate crash and how to adapt in any market and still make money. This is an incredible episode that is going to blow your mind. So sit back and be sure to take good notes on this one, because I have a feeling you’ll be going back to those notes often. Enjoy.

Lauren Hardy:
What’s up Rhino Tribe, this is Lauren Hardy, and you are listening to the Wholesaling Inc Podcast. Today is a huge day in my life and in my career because I am literally interviewing someone that has made such a huge impact on my career. This guy is my number one mentor, even though he didn’t know me I knew him. He is the author of the first piece of education, real estate education I ever got my hands on. He had a course, it was called Don’t Get Voted Off Real Estate Island. Right, Mike?

Mike Cantu:
That’s was it, that’s it. That was my big gift back to the real estate world.

Lauren Hardy:
It was the first piece of real estate education I got into before I had flipped a single home or even knew what house flipping was. Someone had given me this course in a binder. It had a bunch of CDs with Mike Cantu’s legendary voice on it and this binder full of CDs taught me everything I needed to know about real estate, it covered everything. So I am so excited to introduce Mike Cantu of Southern California. He’s a legend with 39 years of real estate experience. Mike, welcome to the show.

Mike Cantu:
Thank you. Thanks for having me.

Lauren Hardy:
I am so excited to have you. I need to take everyone back to how I ended up getting in touch with you. I had always wanted to get in touch with you, this was a dream of mine that one day I could actually talk to the man that taught me this business. And I remember I saw you one time at a real estate investment association that you spoke at and I was too nervous to go up to you and tell you. I was so chickened, I was star-struck. I was like, “I can’t do this.”

Mike Cantu:
I’m humored by that, Lauren, I’m always being read by that because I am such a normal person, which I think I am.

Lauren Hardy:
And I’ve learned that but I was so intimidated so I missed my opportunity then. Fast forward maybe six years, I finally I’m hosting a podcast with Wholesaling Inc, I’ve done some cool things in this space. I got in touch with Aaron and Bruce Norris. I thought, you know what? Okay, I know they know Mike and I’m going to try something out and go out on a limb. I typed up a really nice email that buttered you up so bad that if you said no to being interviewed on this podcast you would have looked like a total jerk.

Mike Cantu:
I’m happy to do that, happy to do that.

Lauren Hardy:
So here you are today and it turned out that, yeah, you are a very cool guy so I’m so excited to have you. Mike, let’s get into the questions because a lot of people probably don’t know who you are because this is a national platform, but in Southern California you’re very well known. You’re a legend here. So, Mike, how…

Mike Cantu:
Lauren, that was never, ever my intention. I’m always enjoying doing what I do, keep a low profile, and somewhere along the line I got exposed and it was part Jack Miller, part Bruce Norris and next thing I found myself up on a stage teaching people and I thought, “How did this happen?” I’m thrilled to do it but I just that was never in my plans.

Lauren Hardy:
Well, and I think it’s because you have the most down to earth relatable story so I’m going to get right into it. How did you get started in real estate 39 years ago?

Mike Cantu:
I watched a late-night infomercial and actually it was a guy sitting on a surf board in San Diego and I recognized Pacific Beach in the background, and my good friend Chuck lived in Pacific Beach, and I thought, “I know that street.” And I’m listening to the guy’s story and he said, “A year ago I was a broke loser surfer guy and a year later I was a millionaire.” And so it really got my attention and of course it was late at night so I believed every single word of it and it was a pitch for a two-day class that I absolutely had to go.
My roommate watched it with me and sure enough that weekend we showed up. It was $395, 395 or 495, one of the two and we did not have the money. And we talked our way into the class by way of first we asked for a good student discount, we we’re both in Community College C+ students at best. We asked for a AAA discount, we asked for a corporate discount. Then when we got all of the discounts I think we’re down to 300 bucks and we said, “Now there’s two of us.”
And I said, we would sit in the back row, we would take turns using the chair, we would timeshare it and that we only needed one manual. And we would just pretend we were one person there so I think our final cost was about 300 bucks. We spent the weekend learning 101 ways to buy property, no money down. And I remember on the way home I asked my roommate, I said, “Chuck, any idea what that mortgage thing they talked about all weekend was?” And he looked at me and said, “I haven’t the slightest idea.”
So we learned 101 ways to buy, no money down, but we didn’t know what a mortgage was. And that started my obsession with real estate education and information. Right after that I was going to Community College at night and I signed up for real estate principles. I remember I read the book in two weeks and finished it, re-read it, underlined it, marked it up, wrote down all the important words and then I ended up taking the rest of the real estate classes over the next couple of years but I also bought every book that I could get at the bookstore. I knew that this was the path to the promised land, so I believed every bit of the seminar, every bit of the infomercial, I was the bubbling optimist and it all worked out great.

Lauren Hardy:
Well, now you say that it all worked out great, but it wasn’t always like sunshine and roses.

Mike Cantu:
Oh, no.

Lauren Hardy:
Okay. So, you get started, and what were you doing at the time? Where you were a professional skateboarder?

Mike Cantu:
Yes. From the time I was 16 to 21 I was a professional skateboarder on the Pepsi Skateboard Team. What I did for a living seven days a week, during the week it was junior high and elementary schools, on the weekend it was car shows, halftime shows, whatever they had scheduled and I loved it, loved every minute of it. Earned a living doing what I was so passionate about.

Lauren Hardy:
I love it. Yeah, I mean, you’re somebody who had no experience in real estate at all. It wasn’t like you were given your family’s rental portfolio or something, you were-

Mike Cantu:
Oh, no, nothing whatsoever.

Lauren Hardy:
No industry, didn’t even know what a mortgage was, and then you got into real estate and you said, now let’s talk about your first experiences. How was the first 10 years, how the first 10 years go for you in your career?

Mike Cantu:
It was rough. I was looking to find my way, I tried lots of stuff. I had a great partner, Mick Blackwell. I had done some construction work for him when I was younger and in the summertime and then was a buy and keep guy and a builder. I went to work for him, that didn’t last very long. And then I ran into him again and he asked me what I was up to I said I was in real estate. Well, we had an interesting conversation and sure enough he said, “If you find a good deal give me a call I’ve got some money.”
Well, the next day I called him, we went to a trustee sale. We bought a property. I think we paid 16,000 for it and we were in business off and running. And I was still renting a bedroom in a house, 150 bucks for the rent, the utilities and everything and I started collecting rental properties. I couldn’t afford to live in of them, but cash flowed. And I think I was up to nine rental houses before I moved out of that bedroom that had a desk in it, that had a bed, it had… That was my world in there.

Lauren Hardy:
So you started buying rentals with Mick, what about what year is this?

Mike Cantu:
1982.

Lauren Hardy:
1982. So things were looking good for a while but was it always good or did it start…

Mike Cantu:
Mick had lots of cash float. He had 15 fourplexes and about 50 houses and he was a builder and he also did copper re-pipes, he was a plumber and Mick had money coming in from everywhere. I asked him about his apartments he said he made $989 and I said, “That’s a lot of work you do for that little bit of money every month.” And he said, “Oh no, that’s every day.” He really was making a thousand bucks a day and he also built spec homes. And I asked lots of questions about the spec homes. He’d do one to four at a time and I figured out he was making a thousand bucks a day doing that.
Then when we did the plumbing re-pipes he always started early in the morning, never went past noon and was always done and would go to lunch. I asked him how much he was making doing copper re-pipes he said about a thousand bucks a day, so I realized Mick was making about $3,000 a day. In simple maths and he was making a million bucks a year. I thought I need to pay attention to what this guy is doing but my challenge was I didn’t have the cashflow. I had to eat and pay my bills and I was having to carry my own weight with Mick, never once did he donate a dollar to my cause so I knew I had to be an asset.
And I would talk him into selling something and he would usually buy my half of it and it always hurt when he would always say, “Yeah, I’ll buy your half. I’ll give you a very small check for a big piece of your future.” And it done when he said that. But I thought, “Okay, now I’ve got some gas money, grocery money I can show on the road here.” So eventually I got Mick to flip more properties and for years I would wholesale Mick two houses a month.
That one he would keep as a rental and one he would fix and flip to pay for the rental property for the fix up and whatever else he got into it and I’d check in with him every year, make sure he was still on board for two houses a month and that program worked for years and years. We ended up with a bunch of houses together and then we started building houses, then we started developing land and things were going great until about 1989 when the economy just dropped off a cliff and that started the roughest 18 months of my life.

Lauren Hardy:
Tell us about the roughest 18 months of your life. What happened?

Mike Cantu:
We had lots going on. Besides the rental stuff, the fix and flip, we had half a dozen spec homes under construction, and I used to do lots splits up in the high desert. Would build on these two and a half acre parcels but would start with a 10 acre or a five acre and split in half or into fourths and build out the lots. I heard about a dozen lot splits going but I also had a big subdivision going, a 160 acre subdivision, I think it was 54 two and a half acre lots. And I had two condo projects in West LA. They were four stories, subterranean parking, one was a seven-unit, one was 11-unit and I had lots going on.
Then everything dropped off a cliff and nothing, that was 1989. The economy came screeching to a halt. I looked at the mess I had going, never thought of it as a mess until then, and I did some simple math. I looked at my bank account, I looked at my daily outgo when I realized I had about two months, one week, two days and four hours till I had to file bankruptcy. I thought, “Okay, we’ve got to turn this thing around.”
And it took 18 months but I got out of all of the projects, finished everything, traded off most of the stuff to get out from under the debt and got very creative doing it. I ran an ad in the LA Times for a year, said, “Custom home lots, we’ll trade for anything of value.” And of course they had debt on them. I had a release clause so I could release the lots and pass a debt on. But I traded for one thing after another, after another. Some of the weird stuff I got was a 40-foot Winnebago, had a slipping transmission. I got a six-seater Cessna airplane with a bad engine, I sold that to the mechanic of the airport.
Now, all of the stuff I took in trade I would make deals to get rid of it before I accepted it. My plan was I will take anything that I could convert to cash. So, I’d get rid of the real estate, lots of cars, lots of trucks, just a lot of strange stuff. That’s mobile homes, anything I could convert cash I would trade a vacant lot for. And eventually 18 months later I looked back and I thought, “Wow, it’s all cleaned up.” I was not the same person I was 18 months prior and I learned more lessons, Lauren, during that 18 month period that still govern how I run my business today.
I made lots of rules out of that. I realized you never, ever bet more than 10% of the firm on any one venture. There was a point when I figured it out, I was running about $3,000 a day in interest costs, in just holding costs. The big development loans have built an interest, an interest reserve but it was still accumulating. It would cost me $1,500 per foot to get out of bed in the morning, $3,000 in accumulated interest. And I thought, “This isn’t how I thought things were going to be.” And I got to turn this around and that was the end result, yes, I did get out of it, ended up with some good houses and it was the… Many houses I had acquired early on, had I not had those it would’ve been ugly, uglier than it was.

Lauren Hardy:
So to help me even understand what you did. So you had a bunch of development projects that you had financed. You had a bunch of construction loans out there, you had debts to pay but now real estate didn’t have that value that it did say before the economy took a dump. All of a sudden real estate is worthless, it’s not cool to be hanging on to these lots. So you traded those laws along with the debt that you had for other items that you could sell, like a plane, a Winnebago.

Mike Cantu:
Some property.

Lauren Hardy:
And I think you said a boat, right? Didn’t you have a boat?

Mike Cantu:
There was actually a couple of boats on there. They were small boats but once again if I knew I could sell them I’d take it.

Lauren Hardy:
So you could sell a boat for a sum but not real estate at that time?

Mike Cantu:
Exactly. You couldn’t give the real estate away.

Lauren Hardy:
Nobody wanted real estate, real estate wasn’t cool.

Mike Cantu:
No, I actually paid. I wrote a few checks to get rid of the last few where it came down to it and I thought I’m almost there, I’m almost there. And I had offered some of the lots just take over my debt and it was actually Blackwell on the last two of them. I said, Mick, would you give me a thousand bucks please and take over the debt?” And he said, “No.” And I said, “Well, it’s your lucky day. I have a gift for you, these lots.” He said, “I don’t want them.”
I ended up writing them a check for $2,000 per lot to get rid of the last few lots. And then Mick hung onto those lots so he ended up with four of them and it was very small debt, less than $30,000. I mean, he hung onto those for a long time and I know when he went to sell and he sold them for 250, 275, 300 and 320. He made a million bucks off those last four lots that I sold him.

Lauren Hardy:
Isn’t that crazy to think? To help people that are listening to this really put this in perspective for them because a lot of our listeners are actually quite new. They maybe have less than a year of experience or they’re just getting into wholesaling real estate or house flipping. So right now we’re at a completely opposite time. We are at a time where everybody wants real estate, right?

Mike Cantu:
For sure.

Lauren Hardy:
There’s a shortage of inventory and real estate is so hot right now, so it’s hard for people to conceptualize this. But please try to explain it so they understand that this is a cyclical thing that we run in cycles in our business.

Mike Cantu:
Absolutely, absolutely. Everything runs in cycles and I’ve always heard seven good years are followed by seven lean years. And looking back the cycle is about seven years each way. I’ve seen it go as far as 10 years, as short as five years, but everything cycles and I’ve been through three recessions. And what I learned during the first downturn that first 10 years really saved me for the second and third recessions that I went through where I’ve always played a conservative game after that.
And I watch a lot of friends do a lot of big things and then when the downturn comes a lot of people get rinsed out of the marketplace and they go figure out, do something else to earn a living and I could never imagine doing that. All I ever wanted out of real estate was enough income coming in to where I didn’t have to go answer to somebody at a job. I’d never been afraid of working but all I’ve ever wanted was to wake up and do whatever I want to do. And Monday through Friday that was always work-related but it was my schedule, my plans, and I figured if I pulled it off that would be great. If I went down in a flaming ball, that was my doing also, so it’s all worked out.

Lauren Hardy:
What is the conservative game? From what you had learned, I guess, what are the things… What would you have changed or what did you learn from that? Give us some tips.

Mike Cantu:
Keep the good stuff, that right there, keep the good stuff. I have a theory, my parts and tools theory and I’ll explain that. The parts are what you keep to assemble your retirement. The A neighborhood rentals, the good stuff, the stuff that when you look at it you know you’re supposed to keep it. And the tools are everything else, all other real estate, it can be a wholesale deal, a retail fix and flip, a short-term rental, a long-term rental that you’re growing up in value amortizing down the debt. But the tool’s job is to eventually be harvested and pay off the debt on the porch.
And what I really wanted was 10 free and clear houses. After I went through the first 10 years I became obsessed with real estate education every day and I wanted 10 free and clear houses. Well, I got the 10 free and clear houses and I was so disappointed over what that income would not buy me and I’ve always said I can screw up anything, any real estate deal bring it to me and I’ll show you 60 ways to screw it up in 10 minutes. And I figure I’d better get some spare sets of 10.
So that is been my passion. First and foremost I’m a landlord, I love the landlord business. As long as you have the right inventory, you got to have good houses in good neighborhoods that if you’re in the wrong neighborhood, best case scenario is you’re going to get the cream of the crap. You want good long-term tenants. I love a two-car garage and a good school district. Once you get good people in and they fill up the garage with their stuff and they get the kids in the school district they stay for a long, long time.
I’ve got lots and lots of tenants that have been with me for 10 years. I’ve got several that are past the 20-year mark and I have houses that I bought 20, 25 years ago that came with long-term tenants. I’ve got one house in Claremont, I bought it in the year 2000. A couple had been tenants in that house for 31 years and the man passed away a few years ago but the lady is still there and I think this is year 52 for her being in that same house, 22 years as my tenant.
And I’ve got several other ones not quite as long as that 30-year mark but I’ve got another one in Montclair that I also bought in the year 2000. Sherry was a tenant for 15 years before I bought it, she’s still my tenant today. So a good house in a good neighborhood absolutely has been the key and then removing the debt.
When I taught my daughter around 10, 12 years ago the business, I explained to her that we play multiple games with these houses. One, we’re trying to get the best of the best paid off. There’s another pile that we’re going to leverage, that we’re going to borrow private money and we’re going to hang on to all. And then the third pile is the fix and flip or the bull sales stuff. We play multiple games. As a real estate entrepreneur every month my goal is to outearn my net rents and quite often come up short most of the time I do, but it all ends up in the same place and I’m always amazed at how these houses can outperform me even at everything I got Monday through Friday. The best advice I could give anybody in real estate is keep the good stuff with the goal of getting it debt-free.
One of my goals is to have… I like souvenirs. When I go somewhere I like to get a souvenir to remind me I’m drinking out of a coffee mug from Tampa, Florida. That was from a Jack Miller seminar, but I like a free and clear house for every year that I’ve been in business, a good house and that is the souvenir. I ask my friends, I said, “Where’s your 1993 earnings?” And they just look at me like I’m from another planet. Well, if anyone were to ask me that I would jump in my truck and drive them over to a house and say most of what I earned that year went in to getting this house paid for. But here it is, and it’s paid me back many times in the rent, what I paid for it.

Lauren Hardy:
How can someone who is maybe new in wholesaling… Explain to us how can you use wholesaling to get to the goal of a free and clear house?

Mike Cantu:
First of all I wholesaled because I needed a regular income. And when I realized I can do it over and over again I thought I’m onto something here, but I always have house of the month, house of the year, my target house. And whether it’s retail money going into it from a retail fix and flip or wholesale money, depending on who the lender is, if it’s I took over a loan and it’s a bank loan you can pay that down. If it’s private lenders I always have the conversation what amount of money in chunks are they comfortable with? And whether it’s 50,000 at a time I would just keep saving the money until I have that chunk available and pay for it.
Back in 2002, Mick sold his apartments, these 15 fourplexes, and I remember he came to me and said, “I need 20 houses from my exchange.” And I went through everything I had and I was only willing to get rid of 10 that met his criteria. And I offered up 10, we settled at 14, but I remember when I got escrow-closed on those 14 houses I was just a tiny bit South of a million bucks net and I knew exactly what was going to happen. And I remember a couple of days later when I ran into Mick he was all excited and said, “What are you going to do with all that money?” And I said, “I already spent it.” Then he got even more excited and said, “What’d you buy?” I said, “Nothing.”
Then he got really concerned and said, “What happened?” And I said, “I paid off nine more houses.” And I remember the look on his face. His face just started winding up like a piece of tinfoil and with the most disgusting tone of voice I’d ever heard he said, “What seminar was it that you went to that taught you to take your hard-earned, after-tax dollars and pay off a single digit fixed rates, amortizing, positive cash flow rent house mortgages. Can you refresh my memory?” And that one hurt.
I remember I walked around for two days looking at my shoelaces thinking I’ve really blown it and did it again. And I remember Saturday morning I woke up, I had a busy day, it was pouring down rain. In fact it was coming down sideways in the bedroom window and right then and there I realized that I was financially free. I was out of the rat race, I never had to work another day if I didn’t want to and given the chance I would have done the same thing over again. And after that I paid off many, many more houses, I just didn’t tell Mick and it all worked out great.

Lauren Hardy:
And that’s the different psychology. I mean, you have to… I always tell people in this business you got to start with what do you really want? So for me it was always time freedom and I think that’s why I related so much to you getting your course and listening to your voice. Everything you said was like that’s me. I never aspire to have a jet plane and have a bunch of things, a bunch of stuff. I really didn’t care to be overly wealthy, it was that I wanted to be able to take my kids to the park at 10 o’clock in the afternoon if I felt like it. I wanted time freedom, control of my time, that was it. I didn’t want anyone to own me anymore, I was tired of having a corporate job.
I listened to you and it sounded like our goals were very much aligned, that idea of you can go to sleep and you don’t have to work today if you don’t feel like it because you have rent, rental income or mailbox money coming your way. In this idea what I’m hearing from you is I should set a goal of, okay, this is my 2021 goal, I’m going to have A neighborhood house a year. That’s so easy when you put it like that, dummy it down for us. I’m going to have one house this year, that’s my 2021, A neighborhood home, and my goal is to flip or wholesale enough homes so I can pay down that A neighborhood home but also pay my monthly expenses. That’s the goal, right?

Mike Cantu:
Exactly. Lauren, you just nailed it and I’m going to give you an example. I still do lots of deals and I still get really excited over a good house. I don’t need any more rentals and for a long time I said if I add a new one it’s got to be a huge upgrade and I’ve got to get rid of my least favorite. Well, I have no least favorites anymore, those have been gone for years and years and it’s all good stuff so I’m always asking myself where I really want to take on the management.
Well, I just bought a great in A neighborhood house, I got really excited over. It was three bedroom, two-bath, 1700 square foot, single-story built in 1978. Two-car garage, and it’s lakefront at Lake Elsinore. I thought, “Okay, I like this house. Love the view. I said, “I can’t sell this. I got to keep it. Well, how am I going to keep it?” I borrowed private IRA money to capture the equity. Let’s say I paid 275, it’s 475 to 500 house. Needs cosmetic repairs, got a new roof on it. So that was a bargain in itself. Captured a bunch of equity but I thought, “Okay, I don’t want the debt, what’s my next move?”
Tomorrow I am closing escrow on a house that I’m paying 130. I figure it’s in the high twos, low threes, comes with a tenant. That is a tool not a part. The first house is a part and there’s enough equity there. I actually have two deals I’m closing this week but there’s enough equity between the two deals. I’m going to wait a year to get it into the capital gains and probably sell both of those houses and pay off the first house. So three houses, there’s enough equity in the other two to pay off the best one and keep ongoing.

Lauren Hardy:
That’s an amazing way to look at it and it makes it seem so much easier. And yeah, I mean, it helps even the new investor or even myself. When you think about it, that way you reframe your thinking, you make it seem so easy.

Mike Cantu:
There’s lots of ways to get stuff free and clear and my least favorite is the 360 payment route and 30 years later you make the last payment that’s paid for. I can be very impatient on stuff like removing debt, so I want it done while I’m still here and not way down the road.

Speaker 1:
Okay. That concludes part one of the series, I hope you got a tremendous amount of value from that episode. Now, on part two Lauren and Mike deep dive his portfolio and he shares an incredible strategy for getting one house per year free and clear. Yes, that’s right, free and clear. Crazy, I know. So, we’ll see you next week on part two of the series. See you next time.

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