050: Michael Young | 2020 Recap

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 multimillion-dollar multifamily rental property firm with 500+ doors.

In this episode, we do a recap of the year 2020. A year full of struggles, uncertainties, failed businesses, and more. We share our stories of success and overcoming the hurdles brought by Covid.

[00:01 – 05:09] Opening Segment

• Going through hundreds of deals physically and virtually since 2019
• Choose deals that:
• Is going to cashflow in any situation
• Will let you sleep at night, not having to worry about risks

[05:10 – 11:55] Cash Flow is King

• Why is cash flow very important?
• Create a conservative business model
• We are not GAMBLERS. Real estate is not a get-rich-quick scheme. 

[11:56 – 26:47] 2020 Recap

• We talk about the crazy things that happened for our businesses
• How we were able to become “Recession Proof” in this Covid season
• Surround yourself with the best of the best
• Working our ass off to fight for a deal in El Paso

[26:48 – 38:19] Conservative Investing

• Why being a smart and conservative investor is important
• Don’t be greedy
• Securing a conservative but fairly profitable deal over a high-risk, high-reward deal

[38:20 – 42:36] Closing Segment

• Goals for 2021
• Final words of advice from Michael

Tweetable Quotes:

“Once you pull the trigger on your own deals, you really don’t want to have a lot of surprises.” – Michael Young 

“You’re only as good as your team.” – Michael Young

“You have to have a very, very clear, crystal clear vision of what you want and what your goals are and what you want to accept.” – Michael Young

Connect with Michael and Princeton Pacific Properties at https://www.princetonpacific.com/

Subscribe to the podcast on Apple, Spotify, and Google.

Follow me on the following platforms: LinkedIn, Facebook, Instagram, and YouTube

Tune In and Become Recession Proof!