Every investor falls into the trap of real estate investing:
You imagine you can sip cocktails on the beach while making more passive income than most people’s salaries.
But here’s the problem:
It’s never that easy — unless you have systems and processes in place to grow your business without your involvement.
Our guest today, Mike Simmons, figured out how to do that. After losing $30k on a bad deal, he figured out how to close 100 deals per year working less than 2 hours a week. And he’s revealing how you can duplicate his success in this episode.
Show highlights include:
- Why remodeling a house by yourself costs you more in terms of holding costs, taxes, and insurance (even if it saves you money) (7:51)
- The insidious “Invisible Costs” of real estate investing which makes you miserable and penniless (8:35)
- The “6 Residents” trick for transforming a single-family home into a bonafide cash cow (and why you shouldn’t do it) (11:55)
- How growing your investing business at breakneck speed forces you to systematize it (13:28)
- Why acting like a dictator to your ocntractos minimizes their mistakes and maximizes your profits (19:04)
- How your skepticism of other successful real estate investors holds you back from hockey stick growth (21:50)
To get the latest updates directly from Dan and discuss business with other real estate investors, join the REI marketing nerds Facebook group here: http://adwordsnerds.com/group
Need help with your online marketing? Jump on a FREE strategy session with our team. We'll dive deep into your market and help you build a custom strategy for finding motivated seller leads online. Schedule for free here: http://adwordsnerds.com/strategy
Find out more about Mike’s business here: https://www.mikesimmons.com
Tune into Mike’s Just Start Real Estate Podcast here: https://podcasts.apple.com/us/podcast/just-start-real-estate-with-mike-simmons/id732855311