Mike Cossette is an award-winning RE/MAX broker and co-owner of RE/MAX Gateway in Austin, TX. With over 20 years of experience, Mike has built an impressive investment portfolio of 18 properties—including multifamily units, Airbnbs, and even a private island. Known for blending lifestyle, creativity, and strategic investing, he helps clients and fellow agents scale sustainably while leveraging both real estate licenses and entrepreneurial grit.
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Key Takeaways
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Mike’s first house hack was a frat house—literally—with bullet holes in the roof, but it appreciated enough to fund his investing journey.
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Being both an agent and investor gave him an edge: faster access to deals, deeper market data, and commission savings.
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Scaling too quickly without stabilizing operations or budgeting for CapEx can lead to long-term setbacks.
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His private island investment was driven more by lifestyle than ROI—but it’s still appreciated significantly.
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Adaptability, multiple exit strategies, and alignment with personal life stages are key to sustainable investing.
Topics
From Frat House to Financial Freedom
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Started investing in college by house hacking a four-bedroom home with his fraternity.
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Learned property management, rent collection, and legal risks the hard way.
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Despite the chaos, the home appreciated, teaching him about leverage and wealth creation.
Agent + Investor = Advantage
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Uses his license to act fast, save on commissions, and analyze market trends in real time.
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Warns that agents sometimes skip due diligence when investing for themselves—treat every deal with care.
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Highlights liability risks agents face if they don’t operate with transparency or try to “cherry-pick” deals.
Scaling Tips for Agents and Investors
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Warns against growing too fast—stabilize one deal before jumping to the next.
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Many new investors ignore CapEx and exit strategy planning.
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Focus on cash flow and structure, not just buying “a good deal.”
Investing in a Private Island
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Bought a 1.2-acre island in Florida with friends during COVID—initially as a land rental play.
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Faced challenges with permits, infrastructure, hurricanes, and tide levels.
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Currently undeveloped but used for camping, treasure hunts, and family escape—zero pressure to monetize it now.
What He’s Seeing in Austin’s Market
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Submarkets are performing very differently, even within the same price bands.
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Distressed sellers are creating negotiation opportunities not seen since 2008–2009.
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Long-term fundamentals in Austin remain strong, especially with companies like Tesla and Apple investing there.
Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.
Round of Insights
Failure that set Mike up for success: Bought a short-term rental in Florida that was hit by multiple hurricanes. It was initially a disaster, but insurance and creative management turned it into a profitable recovery.
Digital or mobile resource:
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RPR (Realtor Property Resource) – gives quick access to property data and demographics.
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BiggerPockets – his go-to for deal calculators, forums, and investor tools.
Book recommendation: The Slight Edge – teaches how small, consistent actions lead to transformational results over time.
Daily habit: Starts at 5 a.m. with workouts and positive podcasts, then quiet meditation after school drop-off to recharge and stay centered.
#1 insight for scaling as an investor agent: Stay adaptable. The market changes—your strategy should too. Always have Plan B and Plan C.
Favorite restaurant in Austin, TX: Matt’s El Rancho
Next Steps
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Connect with Mike or follow him on social @askmikecos
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Check out our 35 Hacks to Find the Best Places to Invest
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Explore dual-track growth as an agent-investor for speed, savings, and insights
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Remember: not every deal needs to be about ROI—some should serve your lifestyle and family values
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