Ep. 239: How to Grow an Online Community with Mike Foster

Serving others has been a high priority for Mike Foster for years. It also serves as his path to success. He served his country as a Naval officer in the Navy. During his time, he developed combat and survival skills, while also preparing for his life after the military. Since then, Mike and his partners have been able to grow an online community and content platform called Active Duty Passive Income.

 

With the economy transitioning from a certification economy to a skills economy, Mike realized the importance of developing skills. Particularly, Mike knew that there was a lack of education in the military around investing and making the transition from service. He knew sailors who were transitioning without a plan so he connected with some friends to create a community that provided real estate education. That community serves the military investing community with the insights they need to take action on their investing and financial goals. His commitment to active duty military and veterans has allowed him to build a strong presence and an immediate bond with the community. 

 

To grow the community, he focuses on various marketing strategies to stand out and engage with prospects. In this episode, Mike goes into detail about his journey from the Navy into investing, the Active Duty Passive Income community, his target markets, and his LDART approach to content creation.

 

Partner: 1 Question Marketing Survey for New Event

Key Insights on Serving and Growing an Online Community

• After 6 years in the Navy, Mike started his real estate investing adventure

• How Mike transitioned from thinking of investing to actively investing 

I realized I had gone through the first quarter of my lifespan with no assets to carry me to the next quarter of my life. 

• Utilizing Airbnb to cover the mortgage of his first investment

• How and why Mike created his company Active Duty Passive Income, which teaches active military men and women how to invest in real estate

• The ramifications of our economy shifting to a skills economy vs. a certification economy

There is a huge importance in today’s economy on building high-income skills, in which investing is one.

• Building a strong community and making an impact

Figure out who you can serve best, and help solve their challenges.

• The Gulfport, Mississippi real estate market

• How to account for hurricanes (geo-specific natural disasters) when underwriting a deal

• Why Mike likes the Huntsville, Alabama, and Valdosta, Georgia real estate markets

• Mike’s effective marketing strategies

• How to disarm skepticism through marketing (Book: The One Sentence Persuasion Course) 

People will do anything for those who help them achieve their dreams.

• Understanding the LDART marketing tactic when creating content (Lightbulb, Dopamine, Authority, Relational, Testimonial) 

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Bullseye Tips:

 

Apparent Failure:

Worked with a property management company that taught him two things: Always have a backup plan and never sign a contract you can’t get out of in 30 days or less.

 

Digital Resource:

Cozy (Free property management tool)

 

Most Recommended Book:

Getting the Money: The Simple System for Getting Private Money for Your Real Estate Deals   (Susan Lassiter-Lyons)

 

Daily Habit:

Every morning prayer and thinking of his goals

 

Wish I Knew When I Was Starting Out:

The Success Triangle: Education, Network, and Action

 

Curious About Right Now:

Property Development 

 

Best Place to Grab a Bite in Hawaii

Buzz’s Original Steakhouse 

 

Contact Mike: 

Active Duty Passive Income

Social Handle for Instagram & Facebook: @militarymikefoster

 

Mike’s Book

Military House Hacking