Episode 93

Published on:

11th Jan 2024

What I learned (Mike Hoffman)

In this insightful episode of Passive Wealth Principles, I, Jake Harris, reflect on the valuable lessons learned from my previous dialogue with Mike Hoffman about the vending machine and micro market industry. This episode is a deep dive into the strategies, personal growth, and real estate insights gleaned from that conversation.

Episode Highlights:

  1. Innovative Sales Strategies in Vending and Micro Markets:
  • Reflecting on the conversation with Mike, I explore effective sales methods like gift cards for new tenants and gamification in vending and micro markets.
  1. Untapped Potential in Garden Style Apartment Complexes:
  • I discuss the overlooked opportunities in garden style apartment complexes for vending and micro market ventures, considering their unique consumer base.
  1. Customer Experience and Reducing Friction:
  • Sharing Mike's insights on the importance of easy access to products and how this strategy can significantly boost sales in vending.
  1. The Power of Executive and Virtual Assistants:
  • I delve into how executive and virtual assistants can dramatically enhance time management and productivity for business owners.
  1. Networking and Learning from Peers:
  • Reflecting on the importance of networking and collaborative learning, and how they can lead to new insights and opportunities in the industry.
  1. Balancing Family, Passive Income, and Personal Performance:
  • I discuss the delicate balance between family life, generating passive income, and optimizing human performance for a fulfilling life.
  1. Choosing Challenges for Growth:
  • I share thoughts on embracing difficult paths for personal growth and unlocking new opportunities in life and business.
  1. Family and Purpose as Core Values:
  • Reflecting on Mike’s emphasis on the significance of family and having a clear purpose as fundamental drivers for success and happiness.

Key Takeaways:

  • Creative sales strategies are key in the vending and micro market sectors.
  • Garden style apartment complexes offer unique opportunities.
  • Customer convenience is crucial for sales in vending.
  • Executive and virtual assistants are invaluable for efficient business management.
  • Networking and peer learning are essential for industry success.
  • A balanced approach to family, income, and performance is vital.
  • Embracing challenges can lead to growth and new opportunities.
  • The importance of family and purpose in achieving success.

Stay Connected:

  • For more episodes and insights, visit Passive Wealth.
  • Join the discussion in our Passive Wealth Tribe Facebook group: Facebook Group.
  • Follow me, Jake Harris, on Instagram for updates: @jake.realestate.


Tune into this episode of Passive Wealth Principles for a journey through my learnings from Mike Hoffman. From innovative vending strategies to the importance of life balance, this episode is a treasure trove of insights for anyone looking to enhance their business acumen and personal life.

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About the Podcast

Passive Wealth Principles
Contrarian Investing for Cash Flow and Freedom
You are listening to the Passive Wealth Principles Podcast. Your host; Jake Harris is the founder of an award-winning real estate investment firm and actively investing in commercial real estate all over the country. This show allows you to tune into interviews, dive deeper and deconstruction many passive wealth principles not just from investing but tactics, strategies, and many fascinating ways in which people have achieved levels of passive wealth.

Through my nearly 20 year career as a professional investor, I have built an amazing network of people and come across some super-savvy investors that not only have a unique stance on the marketplace but look at the same problems we all face and many times have come up with a simple but unconventional approach to solving them.

So come be a fly on the wall. Enjoy the conversations and these amazing passive wealth principle lessons.

Learn more: https://www.catchknives.com/

About your host

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Jake Harris

A sought-after expert and gifted story teller with contagious energy, he inspires everyone around him with encyclopedic research. He can take complicated ideas and convey them simply and clearly for everyone to understand. As a founder and managing partner of an award-winning commercial real estate firm, he has authored a #1 bestselling book (CatchingKnives). He has been featured in many publications including The NY Times & Yahoo Finance, he is a frequent speaker, podcast guest, and a highly valued coach. He uses those superpowers to pioneer cutting-edge bold design into an exciting hotel, infill, and adaptive reuse projects across the country. To date has purchased and sold1200+ properties in23 states and amassed a commercial real estate portfolio of iconic properties. He earned a master's degree in International Real Estate, sits on the FIU real estate board, is an accreditedCongress of New Urbanism city builder, a member of CCIM, Urban Land Institute (ULI) and holds a CA real estate brokers license.