Episode 531: After $200M Raised & Why Real Estate Still Beats the S&P 500 with Mike Zlotnik

In this episode of The Smart Real Estate Coach Podcast, I sit down with Mike "Big Mike" Zlotnik, CEO of TF Management Group and host of The Big Mike Fund Podcast. Mike's journey from tech executive to full-time investor and fund manager is a masterclass in timing, risk management, and courage.   We unpack what it takes to transition from a corporate career to real estate, why masterminds are the fastest way to collapse your learning curve, and how today's commercial market offers one of the best entry points we've seen in years.   Mike also shares his expert take on market cycles, cap rates, AI's growing impact on real estate operations, and why "fear in the market" often signals opportunity for disciplined investors.   If you're serious about learning how to analyze risk, find predictable cash flow, and invest strategically in a changing economy, this episode is your blueprint.   Key Talking Points of the Episode   00:00 Introduction 01:03 Who is Mike Zlotnik? 02:20 From IT to investing: how Mike went from VP in tech to full-time investor 03:55 Are you investing to learn or learning to invest? 05:03 The power of masterminds and how surrounding yourself with the right people changes everything 06:05 Networking, knowledge, and doing business with people you know, like, and trust 07:41 Why paying for access beats free advice: Value always outweighs cost 09:08 Making the leap in 2009 during market chaos: Burnout, courage, and timing 10:03 "Be greedy when others are fearful": Why the bottom of the market breeds opportunity 11:16 Why 2025 is shaping up like 2009: Commercial real estate values today 16:10 TF Management's current strategy: Precision over volume 17:43 Breaking down a commercial deal: cap rates, spreads, and downside protection 19:02 Why triple-net industrial is a hidden gem in today's market 20:35 Finding deals nationwide through trusted relationships and not by chasing markets 22:50 How to underwrite for safety: Positive spreads and conservative leverage 23:51 The impact of AI on real estate: Efficiency, deflation, and productivity 25:39 Why AI may push interest rates lower and create new tailwinds for real estate 28:05 Mike's interest rate forecast and why the next few years favor disciplined investors   Quotables   "Are you investing to learn or learning to invest? It's always both."   "When the cycle is at the bottom and fear is high, that's when I get greedy. That's where wealth is built."   "Success isn't ready, aim, fire—it's ready, fire, aim. You just keep adjusting until it works."   Links   BigMikeFund  https://bigmikefund.com/   The BigMikeFund Podcast https://podcasts.apple.com/us/podcast/bigmikefund/id1333666009   QLS 4.0 - Use coupon code for 50% off https://smartrealestatecoach.com/qls Coupon code: pod   Apprentice Program https://3paydaysapprentice.com Coupon code: Podcast   Masterclass https://smartrealestatecoach.com/masterspodcast   Wicked Smart Books https://wickedsmartbooks.com/podcast   Strategy Session https://smartrealestatecoach.com/actionpodcast   Partners https://smartrealestatecoach.com/podcastresources