Mike Simmons
@MikeSSimmons
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Real estate investing coach | 7 figure investor | Hard money lender
Michigan, USA
Joined January 2013
Don’t let preparation become the business. That networking guy with all the lingo but no deals? Don’t be that guy. #ExecutionOverExcuses
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Wholesaling real estate is a much better model than fix and flip real estate. Here's why: 1. Lower financial risk 2. Faster returns 3. Can minimize external factors 4. Market resilience 5. Easier to scale Check out my newsletter: https://t.co/cJAw3g29El
#wholesale
investorcheatcode.co
Build, scale & automate a real estate wholesaling business
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There is no substitute for leads in your business. I think that leads are like oxygen to your company. No leads = no oxygen... ...which means your company is dying.
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Winners and losers have the same goals. The difference is consistency and commitment overtime.
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If you're not using direct mail in your real estate business, you're making a huge mistake. Don't know where to start, i got you. Check this out - https://t.co/kvbDgoXM6C
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Leads are the oxygen of any business. I know that when I am not getting new leads, my company is effectively suffocating as a business.
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When it comes to real estate, there are two fundamental pillars that hold up your success: 1. leads 2. money. Without a steady stream of quality leads and sufficient funds to invest, your business will struggle
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For all the entrepreneurs out there, when something goes wrong in your business. Even if it goes seriously wrong. Your first reaction cannot be "why me" Or "I'm screwed" If it is, you probably are screwed.
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Here is the escape plan: 1. Build 2. Create systems and processes 3. Hire 4. Remove yourself
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I feel like real estate is an industry where people don't take it quite as seriously as they should. They don't create a business, they just create a very active self-employment position.
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I mean, if your lead flow stops you're out of business. That's true. But the activity inside of the business doesn't have to be you doing the activity.
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Wholesaling real estate is considered an active business. It is and it isn't.
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Most of sibling-run businesses I've seen can't balance: -Family dynamics in decisions -Business growth with personal ties -Professionalism in shared ventures Too much conflict. Make sure you set clear roles and responsibilities and talk through potential conflict resolution
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Harsh truth: Treating real estate investing like a hobby often leads to regret, not profits.
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99% of new investors I see don't acknowledge: -Clear investing criteria -Proper team assembly -Market adaptation strategies Too much improvisation. Not enough strategy.
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5. Can be systematized easily. Even though wholesaling real estate is an "active" business, you can create a process and hire a team that can do it without you. Like any business, you can't totally check out, but you can get your involvement down to only a few hours a week pretty
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4. Velocity. Wholesaling is a very fast paced business. The sales cycle is usually between 1 and 4 weeks. Again, this helps protect you against market volatility. You just aren't in the deal that long
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