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

Episode • Dec 26, 2013 • 1h 33m

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

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

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