106: How to Do 100+ Deals Without a Bank (While Raising Unlimited Funds) with Mike Sumsky

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 22 January 2015

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is it possible to build a large real estate business without the use of banks? Our guest today, Mike Sumsky, shows us that it’s not only possible – but can be incredibly beneficial! Mike has done well over 100 deals in the past several years using a variety of creative finance methods and shows you how you can do the same. Listen for great tips on obtaining private money, finding deals by knocking on doors, and other innovative strategies for building your real estate business. Whether you want to overcome a lack of funding or you just want to explore creative ways to raise capital, this is an episode you don’t want to miss! In This Show We Cover: Mike’s thoughts on creative real estate investing How he got his first properties Investing while losing a job The beauty of taking action without knowing everything yet How to get your first deal from knocking on doors The anatomy of a short sale Tips on applying for a bank loan How to learn while doing Closing on a house with less than 5 thousand dollars What “Subject To” type deals are Everything you need to know about private money How to become “the prize” in each transaction Plus MUCH more! Links From the Show: BiggerPockets’ Trivia (email) BP Podcast Show 105 Video of the flood with Brandon And another video BiggerPockets’ List of Real Estate Meet ups CreditKarma BiggerPockets Forums Buildium Books Mentioned in the Show Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down Think and Grow Rich by Napoleon Hill Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal by Oren Klaff Landlording on Auto-Pilot by Mike Butler The E-Myth : Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber Work the System by Sam Carpenter Connect with Mike Mikes’s BiggerPockets Profile Mike’s Blog Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast.
0:03.0	Show 106.
0:05.0	You're listening to Bigger Pockets Radio,
0:08.0	simplifying real estate for investors large and small.
0:12.0	If you're here looking to learn about real estate investing
0:14.8	without all the height, you're in the right place. Stay tuned and be sure to join the millions
0:20.2	of others who have benefited from BiggerPockets.com.
0:24.0	Your home for real estate investing online.
0:26.8	What's going on everybody? This is Josh Dorkin, host
0:29.6	to the BiggerPockets Podcast here with my co-host,
0:32.1	Mr. Brandon Turner.
0:34.4	What up, Brandon Turner?
0:36.3	Josh Dorkin, how are you today?
0:39.0	I'm good, I'm good, I'm good, right now I'm talking to you
0:41.9	while you're sitting on the beach in Hawaii must be nice.
0:44.7	It is really nice. Look at me sitting on, no we recorded this ahead of time people,
0:48.4	but while you're listening to this I'm probably sitting on the beach maybe.
0:51.6	Wow, wow, yeah, yeah yeah, must feel good, huh?
0:54.9	Feels real good, yeah, look at the hot girl over there, whoa.
0:57.8	Wow, we can't wait for Heather to listen to this show.
0:59.8	It's my wife, what are you talking about?
1:01.1	All right, I was a hot girl, that I'm like, okay, just making sure. wife what are you talking about? Oh no no things are good things are good things are good
	...

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