“It is super helpful to have a mentor. It's invaluable just like that, having those one-on-one conversations and actually learning from someone who's doing it firsthand. You can't learn that in a book.”
Michael Piehler is a great guy. He is the Co-Founder of North Lone Star Capital, a private equity real estate investment firm based out of the Twin Cities, where Michael and his wife Miranda currently reside. Go give him a follow on LinkedIn at https://www.linkedin.com/in/michael-piehler-141211174/.
Born and raised in Plano, Texas, Michael made his way up to Minnesota where he attended Bethel University in Saint Paul, graduating magna cum laude with a degree in Economics and Finance. Michael began his career in commercial real estate as a broker and currently works on Acquisitions and Investor Relations with North Lone Star. The first deal they closed on as a new company was last year, a 120-unit in Houston.
Michael’s competitive nature, work ethic, and passion to serve others are invaluable to the firm.
Fun Fact: He was captain of the hockey team and also played on the golf team.
In this episode we discuss:
✅ Value of Mentorship
✅ Collaborative Space and Competitive Space
✅ Importance of Due Diligence
✅ Passive Investors
✅ General Partnership\
✅ Loan Assumption
Great quotes from the episode include:
“To get anywhere, you have to find people that can mentor you and guide you, and at the very least, you have to find partners to really grow beyond a certain point.”
“Absolutely don't feel like you're doing someone a disservice by trying to have a cup of coffee with them. Like that is 100% how businesses are made in the real estate space and how deals are formed.”
“I don't think a lot of passive investors understand the amount of work that goes into just one deal.”
“One of the huge benefits of being a passive investor is working with good operators that are actually going to take those steps to ensure a solid investment.”
“A lesson I've learned, and this would be for your active investors out there, to not be afraid to pick up the phone and make those calls.”
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