50: Getting Started and No Money Down House Flipping with Mike Simmons

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 26 December 2013

⏱️ 97 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode of the BiggerPockets Podcast, we sit down and talk about the best ways to get started with real estate investing, as well as some killer tips for investing without using your own money. From picking a niche, overcoming analysis paralysis, and a lot more – our guest, Mike Simmons, will share his story of overcoming obstacles and becoming a full time house flipper in the Metro Detroit area. Mike has a great story and an incredible strategy for flipping houses using no money of his own, so whether you are brand new or have been investing for years – you don’t want to miss Mike’s creative advice. Read the transcript for episode 50 with Mike Simmons here. In This Show, We Cover: Overcoming “shiny object syndrome” and “analysis paralysis” Losing $1000 on his first “almost deal.” Finding contractors without losing your hair Dealing with Detroit investing Why Mike had to evict a squatter who broke into his property Finding good deals in any market Using social media to attract private money Using partnerships to get started or to grow How Mike structures partnerships Should you start with wholesaling? And a whole lot more! Links from the Show BP Podcast 012 : Wholesaling and Marketing with Sharon Vornholt BiggerPockets Success Story Forum Tenant Screening: The Ultimate Guide The BiggerPockets Hard Money Lender Directory BP Podcast 047: Apartment Complexes, NNN Leases, and Commercial Real Estate with Joel Owens Books Mentioned in the Show Rich Dad Poor Dad by Robert Kiyosaki The Art of the Deal by Donald Trump The Millionaire Next Door by Thomas J. Stanley Wealth Attraction for Entrepreneurs by Dan Kennedy Tweetable Topics You can read for days – and never do anything. Get out there and DO something. (Tweet This!) Work with a Realtor who knows you and knows your business. (Tweet This!) 50% of something is better than 100% of nothing. (Tweet This!) Connect with Mike Mike’s BiggerPockets Profile Mike’s Website and Podcast: JustStartRealEstate.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast, Show 50.
0:05.0	You're listening to Bigger Pocket Radio,
0:09.0	simplifying real estate for investors large and small.
0:12.0	If you're here looking to learn about real estate
0:14.5	investing without all the height, you're in the right place. Stay tuned and be
0:19.5	sure to join the millions of others who have benefited from biggerockets.com.
0:24.4	Your home for real estate investing online.
0:28.0	Hey, what's going on everybody?
0:29.2	This is Josh Dorkin, host to the Bigger Pockets Podcast here with Brandon.
0:33.0	Hey everyone, this is Brandon co-host of the Bigger Pockets podcast here with Josh.
0:38.0	Wait, are you making fun of me?
0:39.0	I would never.
0:40.0	You son of a.
0:42.0	I don't make fun of people I am respectful of all
0:46.7	That's not true. That's not true. Yeah. Yeah. Yeah. Yeah. Yeah. All right., listen, happy holidays to everybody listening.
0:53.4	And we got a really, really good show ahead. We've got a really fantastic interview and
1:00.2	we'll get into that in a second. but before we do we've got our quick tip
1:07.2	Yeah, today's quick tip listen to the whole show guys if you're if you're new especially listen to the whole show guys. If you're new especially listen to the entire show.
1:16.1	We know that these things could be a bit long sometimes, but we definitely want to
1:21.1	encourage you to make it all the way to the end because there's
1:24.3	definitely some amazing stuff in particular in this show there's there's a lot of
1:28.9	really juicy advice at the very end so if you're the type who listens for five minutes and
	...

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