On this episode of Zen and the Art of Real Estate Investing, Jonathan Greene interviews Mike Russo, head of product innovation at Auction.com. With more than 20 years of experience spanning franchising, proptech, and distressed assets, Mike shares how his career evolved from early roles in real estate franchising to building platforms and eventually leading product innovation at the largest distressed real estate marketplace in the United States.

The conversation explores how investors can navigate today's real estate landscape, particularly when it comes to distressed properties, auctions, and identifying real opportunities versus perceived deals. Mike explains how platforms like Auction.com actually work behind the scenes, including reserve pricing, auction dynamics, and why many properties cycle without selling. He also shares practical advice for new investors, emphasizing the importance of starting with lower-risk opportunities like vacant REO properties and building experience through repetition.

Jonathan and Mike also discuss the realities of active investing, from flipping houses to managing rentals, and why many investors underestimate the complexity and operational demands involved. They highlight how technology can be a powerful tool for sourcing deals, but cannot replace on-the-ground knowledge, experience, and due diligence. The episode also touches on market dynamics, investor behavior, and the risks created by inexperience, FOMO, and misinformation.

For investors, this episode offers a grounded perspective on how to approach distressed real estate, avoid common mistakes, and build a sustainable investing strategy over time.

In this episode, you will hear:

• How Mike Russo transitioned from real estate franchising to leading product at Auction.com

• How online real estate auctions actually work, including reserves and bidding dynamics

• Why new investors should start with vacant REO properties instead of jumping into foreclosures

• The risks of inexperience, FOMO, and relying too heavily on online deal analysis

• Why seeing properties in person and getting real reps is critical for long-term success

• How to think about active vs. passive investing and the realities of managing real estate assets

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Supporting Resources

Connect with Mike

Youtube: http://youtube.com/@mikesrusso

Instagram: @mike.s.russo

LinkedIn: https://www.linkedin.com/in/mikerusso1/

Connect with Jonathan:

Podcast - www.zenandtheartofrealestateinvesting.com

Brokerage - www.streamlined.properties

YouTube - www.youtube.com/c/JonathanGreeneRE/videos

Instagram - www.instagram.com/zenrealestateinvesting

Instagram- www.instagram.com/trustgreene

Instagram - www.instagram.com/streamlinedproperties

Instagram - www.instagream.com/zenupstate

Zillow - www.zillow.com/profile/trustgreene

Bigger Pockets - www.biggerpockets.com/users/TrustGreene

Facebook - www.facebook.com/zenandtheartofrealestateinvesting

Jonathan's Hub Site - www.trustgreene.com

Email - Jonathan@trustgreene.com

This episode was produced by Outlier Audio.