Revolutionizing Multifamily Investing: Mike Kaeding's Innovative Approach to Housing Affordability

Welcome back to another episode of the REI Mastermind Network! I'm your host, Jack Hoss, and in today's episode, we have a very special guest joining us - Mike Kaeding, the innovative mind behind norhart.com. Mike and his team are revolutionizing the multifamily investing industry with their unique approach focused on tackling housing affordability and driving down costs. Through their innovative strategies, they have achieved an impressive 20-30% reduction in construction costs and have their sights set on reaching a 50% reduction in the near future. Mike's journey in the industry is equally fascinating, as he initially had no interest in joining his family's small multifamily building business. However, after his father's passing, he stepped up to the challenge and has been leading the charge ever since. Join us as Mike shares his insights into their groundbreaking techniques, their commitment to improving labor productivity in construction, and their mission to make a positive impact in the world through housing affordability. We'll also delve into Mike's podcast, "Becoming a Unicorn," and how he balances work and family life. So, grab your headphones and get ready to dive deep into the world of innovative real estate investing with Mike Kaeding on this inspiring episode of the REI Mastermind Network!Connect with Mike Kaeding: https://www.norhart.com/Topics & Bullets:Mike Kaeding and his innovative approach to multifamily investingSolving housing affordability and driving down costsAchieving a 20-30% reduction in cost and aiming for a 50% reduction in the futureUsing strategies from other industries, like manufacturing, to improve labor productivity in constructionBringing all trades in-house and implementing assembly line techniquesCreating a culture of improvement and solving thousands of small problems to drive efficiencyMike Kaeding's background and journey in the multifamily businessGrowing up in a small multifamily building business started by his parentsInitially not wanting to be involved, but eventually joining and taking over after his dad passed awayThe importance of hiring the best employees and continuous improvementFlying in employees from other states and working with world expertsImplementing lean videos to showcase team improvementsGradually implementing significant investments in infrastructureLetting go of struggling team members and hiring the best peopleThe impact of hiring the right people on productivity and successMike Kaeding's personal values and prioritiesMaking a positive impact in the world through housing affordabilityPrioritizing his relationship with his immediate familyEliminating anything in his life that doesn't contribute to these two main elementsValuing his time and trying to double up tasksEngaging in fun activities, like his daughter's YouTube channelMike Kaeding's podcast and beliefs on making a positive impactMike Kaeding's podcast "Becoming a Unicorn"Emphasizing the shortness of life and avoiding wasting timeUsing time to make a positive impact and pushing things forwardMotivated by the fear of not doing enough to make an impactBreaking out of the reactionary cycle and establishing goalsHuman tendency to be reactionary and only respond to painEstablishing goals and a bigger "why" to break out of this cycleBuilding the right culture and surrounding yourself with the right peopleMike Kaeding's...