Mike Flaherty is Live on Elevate!
It was great to welcome Mike Flaherty to the show! Mike is the founder and President of L5 Investments. L5 provides its partners with short term cash flow returns and long-term capital appreciation via the ownership, repositioning and management of apartment communities in U.S. emerging markets of growth and stability. Mike has closed on over $525M of apartment deals since 2009, totaling over 5,500 units. His focus is on well located, yield driven assets with value-add potential via both physical and operational repositioning opportunities.
In this episode, Tyler and Mike's discussion focused on the driven, self-motivated and analytical mindset that’s led to Mike’s success in multifamily investing and life. Mike shared the adversity he faced during the 2008 recession as real estate developer and the outlook that led him to where he is now. They also discussed the sustainability of multifamily investing and the current economic environment presented by COVID-19, with Mike sharing how his firm is adapting, learning and looking for opportunities.
“This is the time to stall. This is the times to think, educate, assess, reassess, reassess, reassess. It’s not a time for action right now. There’s too much volatility, too much uncertainty, too many unanswered questions. Such as in our business, it’s April 1, who’s going to pay rent today?”
Other topics included Mike’s working dynamic with his business partner, failing fast, quarterly market analysis, responsible investors, positivity and more! Mike’s insights highlight the importance of instilling a whatever-it-takes mentality during these uncertain times.
You can connect with Mike via his company website:
Website
The book mentioned in the show can be purchased below:
Think and Grow Rich, by Napoleon Hill
Apply for coaching with Tyler! The world's top performers in any field have a coach to help them achieve drastically greater results and in less time. The most successful real estate investors are no different. To apply for a results coaching session with Tyler, click here.
This episode of Elevate is brought you by CF Capital LLC, a national real estate investment firm that focuses on acquiring and operating multifamily assets that provide stable cash flow, capital appreciation, and a margin of safety. CF Capital leverages its expertise in acquisitions and management to provide investors with superior risk-adjusted returns while placing a premium on preserving capital. Learn more at cfcapllc.com.
