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BiggerPockets Real Estate Podcast

44: Creating Systems to Flip Houses While Still Employed with Michael Woodward

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 14 November 2013

⏱️ 77 minutes

🧾️ Download transcript

Summary

Trying to investing in real estate while holding a full time job is tough – but trying to flip houses can be even tougher. From dealing with contractors to finding money to getting the deals in the first place – flipping often feels like a full time job in itself. Luckily, today we talk with someone who is doing all those things while working a demanding day job – and finding great success at it. Michael Woodward sits down with us today to show us the systems he uses to balance both his house flipping with the rest of his life – all while maintaining a full time job. Whether you are a flipper, wholesaler, or Buy and Hold investor – you don’t want to miss this great interview on systemizing your business. Read the transcript for episode 44 with Michael Woodward here. In This Show, We Cover Why Michael quit his job – but ended up going back into a full time job again When’s the right time to quit your job? Failure – when it’s necessary Learning the tough lessons about doing your own work One trick to help you find the very best contractors What’s the “Ideal Flip?” Why Michael fully furnishes all his properties Dealing with troublesome neighbors How Michael is funding his flips Managing a flip while working a full time job The List System that helps Michael know what comes next in a flip The best place to buy appliances and a lot more Links from the Show BiggerPockets Radio Podcast 003: Getting Started in Real Estate and Raising Money with Brian Burke Dropbox.com 8 Reasons Why Having A Day Job And Investing In Real Estate Is Awesome! Books Mentioned in the Show The Millionaire Real Estate Investor by Gary Keller The 4 Hour Workweek by Tim Ferriss The E-Myth Revisited by Michael Gerber Tweetable Topics The nice thing about BiggerPockets is the ability to share what we know. (Tweet This!) If you’re going to go big you’re going to have to fail somewhere. (Tweet This!) You can talk yourself into any deal. It doesn’t make it right. (Tweet This!) The only way to invest in real estate while holding a job is to have systems. (Tweet This!) Connect with Michael Michael’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the Bigger Pockets Podcast, Show 44.

0:04.0

You're listening to Bigger Pockets Radio,

0:07.0

simplifying real estate for investors large and small.

0:10.0

If you're here looking to learn about real estate investing without all the height, you're in the right place.

0:16.0

Stay tuned and be sure to join the millions of others who have benefited from BiggerPockets.com.

0:22.0

Your home for real estate investing online. fitted from BiggerPockets.com.

0:22.5

Your home for real estate investing online.

0:25.8

What's going on everybody?

0:26.8

This is Josh Dorkin, host of the BiggerPockets Podcast.

0:32.4

Yeah, Podcast.

0:32.0

Podcast.

0:35.3

Podcast. You hear my echo?

0:36.7

That was kind of cool.

0:37.3

Nice.

0:38.3

Introduced me already.

0:39.3

Oh yeah, that was Brandon who rudely interrupted me. What's up Brandon?

0:44.0

Not much.

0:45.0

How are you doing?

0:46.0

I'm good man.

0:47.0

Things are going well.

0:49.0

It's getting close to ski season here in Denver, so you know we're starting to get excited everyone in town is

0:56.2

Starting to freak out and shake with anticipation nice nice and it does also be coming up on the holiday season, which we all love.

...

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