DiscoverBiggerPockets Real Estate Podcast389: He Changed His Strategy & Is Now Making $1M/Year! With Mike Simmons
389: He Changed His Strategy & Is Now Making $1M/Year! With Mike Simmons

389: He Changed His Strategy & Is Now Making $1M/Year! With Mike Simmons

Update: 2020-07-0213
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Are you tired of toiling in the trenches... and ready to run a business that cranks out profits without your constant involvement?

That's what today's guest has managed to do! In this episode, Michigan-based investor Mike Simmons shares exactly how he went from moderate success to $1 million in annual profit.

You'll learn why Mike switched gears from flipping to wholesaling real estate, what he's learned from spending hundreds of thousands of dollars on various marketing channels, and the four-point checklist you must use when considering any kind of partnership.

Ultimately, expert marketing tactics are fine and well. But to scale, you've got to master leadership and hiring—topics Mike covers in great detail here and in his new book, Level Jumping.

So pick up a copy (see link below), and share this episode with a friend, family member, or fellow investor who you think would enjoy it!

In This Episode We Cover:

  • Mike's remedy to cure a bad case of "analysis paralysis"
  • Why he switched gears from flipping to wholesaling
  • Why wholesaling is NOT always a great thing for newbies
  • The marketing channels Mike uses to do 100 deals per year
  • Ultra-specific direct mail tips (from a guy who's sent hundreds of thousands of dollars of direct mail!)
  • What most do wrong with direct mail marketing
  • How he made a $50K assignment fee and the key lesson he learned
  • Hiring and managing transaction coordinators
  • Hiring his first salesperson on a "straight commission" pay structure
  • Using personality assessments like DISC and Kolbe when hiring
  • Why intelligence is not the most important predictor of success in real estate investing
  • And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show389

Comments (2)

3boys2raise

thank you.

Aug 21st
Reply

Thomas Gillotti

Referencing the "cheatriot way" as if it has any actual merit. sorry guys, you completely missed the mark on this one. Aaron Hernandez... Antonio Brown... the cheatriots are effective for one reason. Bellicheat.

Jul 2nd
Reply
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389: He Changed His Strategy & Is Now Making $1M/Year! With Mike Simmons

389: He Changed His Strategy & Is Now Making $1M/Year! With Mike Simmons