How Mike Burkhead Turned $1,000 Into 800 Real Estate Units Using Creative Financing

Mike Burkhead (00:00)
Today, basically I am just trying to show others and tell others all the trials and errors that I did over the past 20 years. started with a thousand dollars. just I’m just from Salisbury, Indiana. didn’t have much money at the time, and started with one house, owner financing. And what I learned is since I didn’t have any

rich parents or or nobody ready to back me, so to speak. I just figured I had to figure out how to structure deals. I had to figure out how do I get in this deal with no money.

Quentin Edmonds (02:08)
Hello, everyone. Welcome to the Real Estate Pros Podcast. I am your host, Q Edmonds, and I am excited to be here today. I am excited about my guests. I’m excited about his journey. I know we’re gonna learn a lot from him today.

A lot of experience on success and just going through the ebbs and flows. Twenty years of experience. And so this ain’t this this gentleman knows exactly what we’re talking about. And so I’m so excited to introduce you all to Mr. Mike Burkhead. Mr. Mike, how you doing today, sir? man, doing good, sir. Doing good, man. I’m excited to be here with you today. and Mike, I am the type, sir, I like to dive right in, right? So

Mike Burkhead (02:42)
Doing good. How about yourself?

Quentin Edmonds (02:54)
I would love for you to tell the people what’s your main focus these days. If you don’t mind, give us a little bit of an origin story, kind of how you got into the space that you’re in. And then also tell us where you are in the world. People love to know geographically. So again, what you’re up to, your origin story, and where you are. Mr. Mike, sir, you have the floor, my friend. Yes, sir.

Mike Burkhead (03:14)
All right, thank you.

Today, basically I am just trying to show others and tell others all the trials and errors that I did over the past 20 years. started with a thousand dollars. just I’m just from Salisbury, Indiana. didn’t have much money at the time, and started with one house, owner financing. And what I learned is since I didn’t have any

rich parents or or nobody ready to back me, so to speak. I just figured I had to figure out how to structure deals. I had to figure out how do I get in this deal with no money.

and what I did is I started with one house, went to the next, then started growing in multifamily. so the story, the quick story is I started with a thousand dollars over twenty years, built to over eight hundred units, low income units.

70% were about section eight, you know, section eight units. so there’s challenges with all that. I was the management company, so I wasn’t just the owner. so as I scaled, I just had to get staff and just trials and errors of having the wrong people in the wrong shoes. So I learned so much. so what I’m trying to do today, based out of Louisville, Kentucky, but just trying to tea tell others, coach others, teach others. I’ve written a book about my story.

And got a the Mirage Method course coming out within the next couple of weeks. so what excites me now is just to be able to show others what I learned the hard way. So hopefully it will save other people some headaches and some lost money, if that makes sense.

Quentin Edmonds (04:57)
Yeah, yeah. No, absolutely makes sense. Thank you, sir. Thank you for taking us through the journey, letting us know how you’re where you are now and some of the origin story. I want to get to the Mirage method in a second. I want to talk some more about that, but I want to talk to you about you just a little bit more. so so Mike, I have a saying why I say destiny has no wasted moments, right? Meaning like we are building momentum to the people.

that we are today, right? So obviously, you know, you’ve been through some ebbs and flows and, you know, you know, different strategies within business. So I would love to know along the journey, sir, what have you learned about yourself? Have you learned discipline, resilience? Like along this real estate journey, what has you learned what what has Mike learned about Mike?

Mike Burkhead (06:27)
You know, it’s funny you asked that. So obviously I learned how to structure deals. I did a lot of owner financing, lease options, seller carry backs where I could get into the deal with no money. because that was my problem. I didn’t have money. but I you know, I wanted real you know, I wanted to do real estate, right? and over the course of time I did things not realizing I had a friend tell me, Mike, after I sewed everything.

He told me, Mike, you are the only person I know that can analyze facts and make a decision. And you know, there’s some people that they just overanalyze and over analyze and they’ll never do a deal, right? and for me, I wasn’t gonna think on a deal for twenty four hours because I knew if it’s a good deal, someone’s gonna get it. So I need to act quick.

And I didn’t realize that until a few years ago, honestly, of I analyze and I just make I may I make the decision. It’s either yes or no. Right. so that’s one of the big things that I’ve learned about myself. And I just think it’s it’s nothing special about me. I think it’s just it’s just a gift, I guess, that God gave me to take information and do I do I move forward or do I not? So

Quentin Edmonds (07:49)
I love that, man. I and I I thank you for answering answering that question so reflectively. Because one of the reasons why I asked that, because at the center of everybody’s business is the business owner, it’s an entrepreneur, right? And so I love how you answered that. You was able to pull on, like, no, this is some God-given ability. Like you you’re able to hone in on why it works for you. And I asked that question because I want people to identify with you so that they can hone in to what works for them, right? We’re all different, but you gotta you gotta harness your power, right? And so

I appreciate you answering that question, man. So man, let’s dive into the Mirage method. I believe I heard that right. Give me a little bit more about that, man. That thing’s coming out. I’m sure it’s going to help people. Talk to me about it.

Mike Burkhead (08:30)
I hope so. You know, when I first sold everything in twenty twenty two, I I had several people say, Mike, you need to write a book. And I’m like, No, no, because I’ve always been the guy, I don’t really want to be in the light. I just want to be in the background. I just I don’t want that that’s just not my personality, right? and then just people kept telling me and I’m like, All right. So I broke down and just started and before I know it, the book’s out, it’s published. and it’s basically from

me as a child, it’s kind of my story, but just going from the business and just the journey and the ups and downs of through that tw last 20 years of the business of just losing a child, losing my dad, losing my mentor, and then, you know, the winds. Obviously there’s winds of just

You know, I I remember later in my career I did a eight million dollar deal and got into it with zero money down. and just so you know, those were wins, right? and but you know, just going through that journey and then at the exit when I sold. so yeah, it’s it’s been good. So I created the yeah, I wrote the book. it’s out, it’s available.

and the course so website should be ready in a couple of weeks. And man, I really hoping like I break it down of how I did what I did. And and there’s other methods. You know, real estate is such you can do real estate so many ways. but you just need you know, I needed someone back then. I had a point in my career, 2017. I actually almost was in bankrupt two thousand six, got out of that. Two thousand seventeen, I was at a point.

I had 800 units and only had a thousand dollars in my checking account at the end of every month. No. and I couldn’t find no one to be able to say, well, this is what I’m doing. but you know, just through some trial and errors and getting the right people in the right shoes, I learned, well, that’s what I needed to do, right? man, if I would have had someone that like I would have paid someone back then to help me figure that out, but it was one it was no one there. So

I hope the Mirage method and just my experience can help so many people avoid those costly and sleepless nights.

Quentin Edmonds (11:31)
Yes, sir. No, man. Thank you for being willing to serve people like you know this way, right? And so I appreciate that. I appreciate that lens of servitude because honestly, some people don’t want to serve people. They just want to keep the you know information for themselves. So I appreciate that.

Mike Burkhead (11:47)
So

many people the years like that, but real est there’s so much real estate, like it’s it’s enough to go around, right?

Quentin Edmonds (11:56)
Absolutely. Absolutely, man. So I I know the book. I know you want to help people. I still want to kind of ask this flat out. What’s the next real goals, man? Like what are what’s what are you looking to solve a scale next? If it’s something like that. Kind of just want to ask that flat out.

Mike Burkhead (12:12)
So I’m hoping the Mirage method just really it really helps people because, you know, if it helps people, and I really do think that it will, then it will just, you know, it will grow, pe you know, people word of mouth and and just tell others of, you know, I did my first deal or I did my twentieth deal, you know, from this guy showing me what he did and how he did it. that that’s that’s the hope. That’s it grows. You know, I’ve got some real estate that I’m still doing now.

and you know that that will, you know, I’ll sell that probably the next three to five years and I’ll do I’ll do some more. not sure exactly, you know, what class of property I’ll do at that time, but I’m just excited to I’m just excited to share my story and just how God showed up over the years and just how miraculously, you know, if I can do this with a thousand dollars, I started at twenty three years old. anybody can do it, right?

so if I can just if people would just, you know, sh let me show them, they can do it. And they they just have more control over their freedom, right? Yes.

Quentin Edmonds (13:17)
Yeah.

Sir,

there you go. Yes, sir. You didn’t mention God twice, man. You didn’t you didn’t slick God God blessing you and God, you know, you didn’t slid it in, you know, twice. And so I love it, man. I I love that you bring you know God’s name up. You know, I always kind of quoted scripture, say we make our plans, but the Lord determines the outcome, right? And so we I like I love the fact that He allows us to make our plans, right? We also got to submit the outcome to Him as as well. And

I’m so grateful for the outcome that he has had on your life, man. And I’m so glad you’re here telling this story. And again, you know, I always say at the root, at the foundation of any sustainable business, I feel is servitude. I feel that’s just that’s that’s that’s what sustains it, right? or you know, a proverb says, When you refresh others, you in return will be refreshed. Like it’s just it’s a it’s a give and take. It’s a give and take. So I I want to get your

opinion on this word, I always ask. I want to get your philosophy on the word relationship. When you hear the word relationship, what comes to mind or what penetrates to you, brother?

Mike Burkhead (15:06)
So the first property I bought, I I proved to that guy, his name was Lonnie, I proved to him that what I said I was going to do, I did it. And that turned into a twenty two year relationship. And he fed me deals over the years. He owner financed.

I remember one time he owner financed 60 single family houses to me. and what I s from what you’re at your question, relationship is everything, integrity is everything. And I always tell everybody, and I tell my kids, if you don’t have integrity, you don’t have anything. Like keep your word. I remember there was times that I would come home and ask my wife, Hey, what do you think about this deal? And she would look at me and say, I don’t know. She’s not the risk taker.

but then I would look at her and say, Well, I kinda got to do the deal now. I already told the people I was gonna do it. So, you know, and she’d look at me and give me that look. But I always tell my kids you need integrity, even if it costs you, uphold the integrity. because those relationships will break well, it’ll make or break whatever you’re doing.

Quentin Edmonds (16:30)
Listen, Mike, man, I listen, sir. I appreciate you, man. I I I try my best to read a proverb a day. And within that, within Proverbs, it talks so much about our integrity, about a man’s integrity, his word, and how and how it will open up spaces for him. And I think you are the primary example of integrity relationship, how it’s just opened up spaces for you. And so

Man, I appreciate you, Shannon. I appreciate you giving that invaluable lesson to your kids. Absolutely because it’s invaluable, it’s priceless, literally priceless. And so listen, Mr. Mike, is there any topic that you want to talk about that I have not brought up? Is there any other words of inspiration, education, motivation? Like I don’t know, maybe you came in with a thought on your mind and you wanted to make sure that our listeners heard it.

Kinda just wanna open up space if it’s something like that, man.

Mike Burkhead (17:31)
Nothing really comes to mind to be honest. I I just going back to your question earlier of hey, what what does it look like for you today? you know, I I just really want to be able to share not just what I did, but how I did it.

And just how God showed up through those, you know, these last twenty years. you know, there were so many times that I’m like, This is not looking good. but everything is in his timing, right? Yeah. Yeah. So you know, if I can just share the wins and losses and show people just prevent people from making the same mistakes I did. Yeah. and just how how he showed up so much over the years, I think that’s a win.

Quentin Edmonds (18:20)
Yeah, yeah, absolutely. I think it’s a win. And I’ma say this and I think I think I think it’s gonna be perceived well. But not only did God show up, but you showed up. You showed up. God showed up, but you showed up.

Mike Burkhead (18:31)
And

you have you’re both. Yeah. Yep. Both. Yep.

Quentin Edmonds (18:36)
And I knew he was gonna receive that well, right? Because faith without works is dead.

Mike Burkhead (18:39)
Did. Yeah, you’ve got to do your part. Yeah, I think you know, ’cause I’ve wondered over the years why why me? Why Mike? Like I’m nobody special, right? Like why why was I able to do this? And you know, I’ve just had some good friends say, Mike, you just kept moving forward. When an obstacle came, you didn’t give up and you kept moving forward. and and I think I think that’s seen, right? and so here I am today. So

Quentin Edmonds (19:10)
Mike, thank you, man. Man, man, man, thank you. I listen. I I’ll give you some more platitudes, but just thank you, man. Just thank you for just being yourself, man. if anyone wanted to reach out to you, connect with you, collaborate with you, learn more about what you’re doing, how can I get in contact with you, sir?

Mike Burkhead (19:29)
the best way probably is on Instagram, Facebook, Mirage Method, on YouTube, mirage.method and they’ll be able to see how to get the book or when the course is gonna be live here soon. and of course they can message me there as well. So that’d be the best route.

Quentin Edmonds (19:45)
Absolutely.

Appreciate you, sir. Let me say three things to you sincerely. This is where I get to love on you a little bit. Give you some platitudes, man. So, first, thank you for your time. Absolutely. Right? Because I think time is our most precious commodity. And so, yes, I know how podcasts work, but still you gave us your time. And so thank you. Thank you for giving us your time. Secondly, thank you for your story. thank you for your gift, your gift of integrity, the gift of authenticity.

You know, I appreciate you showing up as your authentic self today because I really believe seeds, stories have a way of planting seeds. We may never see the growth, but the seed is planted. And so, man, thank you for coming to plant the seed. Jesus taught in parables, right? So stories have a way in in just kingdom language of just getting to the heart and sowing seeds that we can never really fully understand the repercussions of it. So thank you for showing seeds, man.

Lastly, sir, thank you for your mindset, man. Thank you for the way you think and bringing that mindset to this platform. I greatly appreciate you coming on, Mike.

Mike Burkhead (20:53)
Absolutely. Thank you. I appreciate it.

Quentin Edmonds (20:54)
Absolutely. Well, listen, y’all heard Mr. Mike. His information is in the show notes. Please get in contact with him. But definitely make sure you’re subscribed here. Cause I’m promising you, we’re going to continue to bring up amazing people, just like Mr. Mike. So, sir, I say thank you again. And everyone else, y’all have a fantastic day.