In this solo episode, Mikey breaks down why cash flow is fuel, not the finish line, and how to force appreciation so your deals pencil in a high-rate world.

What you’ll learn:

• Rates & reality: Why ~6.29% mortgages matter and how a small drop can save real dollars monthly.

• Cash flow vs. appreciation: The mindset shift younger investors must make to build wealth faster.

• Negative leverage decoded: When a 5.5% cap vs. 6%+ debt becomes a silent deal-killer—and what to do instead.

• Build-to-rent advantage: Targeting ~7.5% yield-on-cost so income covers debt service.

• NOI growth levers for 2025: Low-cost, high-impact upgrades (paint, LED, hardware, landscaping), ADUs/conversions, RUBS, and ancillary income (storage, reserved parking, pets).

• Case study: From a duplex to a 32-unit entitlement—how forced appreciation creates value before you build.

• Timing the next window: What rising cap rates + falling interest rates could mean for buying smart.

Why this matters: You can’t control the market, but you can control your inputs design, entitlement, underwriting, and operations to drive NOI, protect cash flow, and compound your equity.