{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/5ddc9fe99d861b70468f0d1a/5ddca02e56dc9f1f1a499dc9?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"HFHQ 32: How to Get Started in Real Estate with Mike Simmons","description":"<p></p>\n<p><strong>Mike Simmons</strong>, from <a href=\"http://www.juststartrealestate.com\" target=\"_blank\" rel=\"noopener noreferrer\">Just Start Real Estate</a>, joins us and helps us understand the best way (or at least his best way) <img src=\"https://s.w.org/images/core/emoji/12.0.0-1/72x72/1f609.png\" alt=\"😉\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\" /> to get started as a new real estate investor and house flipper.&nbsp; He really breaks it down and provides step-by-step processes you can follow to get started today!</p>\n<p>Have any questions for Mike or I? <strong>Just post them in the comments area below!</strong> And if you like what you hear, be sure to<em> </em><em></em><a href=\"itms://itunes.apple.com/us/podcast/house-flipping-hq-podcast/id730653890?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\">click here to subscribe in iTunes</a>. And while you’re there, why not <strong>leave us a review and five-star rating?</strong></p>\n<h2>Show Notes</h2>\n<p>In this episode we cover:</p>\n<ul>\n<li>Mike's background with real estate starting in 2002 and why it took him 6 years to take action.</li>\n<li>The things you need to do when you first start with real estate.&nbsp; (Take MASSIVE ACTION)\n<ul>\n<li>Commit the time to getting out there and start <strong>networking</strong> at REIAs\n<ul>\n<li>Tips to be a good networker\n<ul>\n<li>Dress nicely when you attend events</li>\n<li>Smile and be presentable</li>\n<li>Take action!&nbsp; It will make it easier to talk to people and have them talk to you</li>\n</ul>\n</li>\n</ul>\n<ul>\n<li>Be mindful of who you tell &#8212; keep away from the negative influences</li>\n<li>If you do tell people, you don't need to listen to their opinion</li>\n<li>Give yourself time to get to know people</li>\n<li>Be uncomfortable! It means you are going in the right direction.</li>\n</ul>\n</li>\n<li>Find an <strong>agent</strong> to help you start generating leads\n<ul>\n<li>Its not necessary to get your real estate license</li>\n<li>Interview realtors and find out what they are able to do for you.</li>\n<li>They should send you qualified leads that you care about.</li>\n<li>You have to give them good, specific information about what you're looking for</li>\n<li>Mike's method for getting in touch with realtors\n<ul>\n<li>Went on realtor.com and looked for properties that fit the criteria</li>\n<li>Find the realtors that show up on the type of houses that you are looking for</li>\n<li>Interview the realtors until you find the best fit</li>\n</ul>\n</li>\n<li>Treat your realtor with respect</li>\n<li>You don't need to get in to detail about your business &#8212; just about what you're looking for</li>\n</ul>\n</li>\n<li>Make a short list of good <strong>contractors</strong>\n<ul>\n<li>One method: put an ad on Craigslist (with criteria) and provide a “new” email</li>\n<li>Walk through a property with them together and get quotes based on what you want to do</li>\n<li>You learn about rehabbing from contractors</li>\n<li>The bids will give you an idea of the cost for rehabbing houses</li>\n</ul>\n</li>\n<li>Make <strong>offers</strong> based on the listings your realtor has been sending you (which meet your criteria)\n<ul>\n<li>You need to educate your realtor on calculating After Repair Value (ARV)</li>\n<li>Go in to the listings for comparables and see what the houses look like</li>\n<li>One possible formula: ARV * 0.7 &#8211; rehab = Offer</li>\n<li>There are a lot of methods for finding a proof of funds (POF)</li>\n</ul>\n</li>\n<li>Get your <strong>financing</strong> taken care of\n<ul>\n<li>This is where you take advantage of those networks you have been building</li>\n<li>Before you have a house under contract, be sure you have been seeking out financing possibilities</li>\n<li>Once the house is under contract finding financing should be your full time job</li>\n</ul>\n</li>\n<li>Focus on direct mail when you have made some progress with your business</li>\n</ul>\n</li>\n<li>Things you don't need to do Day 1\n<ul>\n<li>You don't need to start off forming a corporation in the beginning</li>\n<li>Business cards are not a priority</li>\n<li>Logo and branding</li>\n<li>Making t-shirts with your company name</li>\n<li>Designing a website</li>\n</ul>\n</li>\n</ul>\n<h2>Tweetable Quotes</h2>\n<p>Click a quote to tweet it!</p>\n<ul>\n<li><a href=\"http://ctt.ec/dYpdB\" target=\"_blank\" rel=\"noopener noreferrer\">“The name of the game when you're starting out is MASSIVE ACTION.” </a>~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/cOfje\" target=\"_blank\" rel=\"noopener noreferrer\">“You're better off going 100 mph in the wrong direction than just sitting still doing nothing.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/m1927\" target=\"_blank\" rel=\"noopener noreferrer\">“People are attracted to action takers.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/99g2q\" target=\"_blank\" rel=\"noopener noreferrer\">“If you are not putting yourself in uncomfortable situations, you are just not trying.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/oO7b5\" target=\"_blank\" rel=\"noopener noreferrer\">“Getting your realtor's license doesn't necessarily make you an expert in a lot of areas.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/x7ZLc\" target=\"_blank\" rel=\"noopener noreferrer\">“Don't have a list of to do items that aren't going to make you money in this business.”</a> ~ Justin Williams</li>\n<li><a href=\"http://ctt.ec/53iMU\" target=\"_blank\" rel=\"noopener noreferrer\">“The more detailed you are about the types of houses you want to buy,</a><a href=\"http://ctt.ec/nZ6f1\" target=\"_blank\" rel=\"noopener noreferrer\"> the less detailed you need to be in what you're going to do with the listings.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/1fffB\" target=\"_blank\" rel=\"noopener noreferrer\">“There are a hundred ways to get started in this business.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/mdfd6\" target=\"_blank\" rel=\"noopener noreferrer\">“You can't wait until you have a deal under contract to figure everything out.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/tpv8a\" target=\"_blank\" rel=\"noopener noreferrer\">“This game isn't for the real greedy.&nbsp; You need to be willing to share the wealth”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/339ff\" target=\"_blank\" rel=\"noopener noreferrer\">“This is a team sport.”</a> ~ Justin Williams</li>\n<li><a href=\"http://ctt.ec/Z8IUO\" target=\"_blank\" rel=\"noopener noreferrer\">“In this business there are a lot of singles, and very few home runs.”</a> ~ Mike Simmons</li>\n<li><a href=\"http://ctt.ec/ljceb\" target=\"_blank\" rel=\"noopener noreferrer\">“Always be looking for capital”</a> ~ Justin Williams</li>\n<li><a href=\"http://ctt.ec/SBzaf\" target=\"_blank\" rel=\"noopener noreferrer\">“Its a great business, but there are a lot of ways you can screw it up.”</a> ~ Mike Simmons</li>\n</ul>\n<h2>Transcript</h2>\n<p><a title=\"HFHQ 32 TRANSCRIPT: How to Get Started in Real Estate with Mike Simmons\" href=\"http://houseflippinghq.com/blog/hfhq32-transcript-2/\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to Read and Download the Transcript for Episode 32</a></p>\n<h2>Links and Resources</h2>\n<ul>\n<li>Just Start Real Estate website (<a href=\"http://juststartrealestate.com/\" target=\"_blank\" rel=\"noopener noreferrer\">http://www.juststartrealestate.com</a>)</li>\n<li>JSRE Podcast (<a href=\"https://itunes.apple.com/us/podcast/juststartrealestate-real-estate/id732855311\" target=\"_blank\" rel=\"noopener noreferrer\">http://www.juststartrealestate.com/itunes</a>)</li>\n<li>E-mail Mike Simmons at: <a href=\"http://juststartrealestate.com/contact-mike\" target=\"_blank\" rel=\"noopener noreferrer\">mike@juststartrealestate.com</a></li>\n<li><a href=\"http://www.realtor.com/\" target=\"_blank\" rel=\"noopener noreferrer\">Realtor.com</a></li>\n<li><a href=\"http://houseflippinghq.com/getting-quote-managing-rehab-mike-simmons/\" target=\"_blank\" rel=\"noopener noreferrer\">How to work with contractors</a> (HFHQ Article by Mike Simmons)</li>\n<li><a href=\"http://houseflippinghq.com/working-private-money-lenders-get-house-flipping-deals-funded/\">Working With Private Money Lenders to Get Your House Flipping Deals Funded!</a></li>\n</ul>\n<h2><img class=\"alignright\" alt=\"The House Flipping Mastermind\" src=\"http://houseflippinghq.com/wp-content/uploads/2014/01/hfmm_webinar_banner_click-here_600-300x216.jpg\" width=\"270\" height=\"194\"></h2>\n<h2>Join the next webinar!</h2>\n<p>Our next house flipping webinar will be<strong> Thursday, March 27, 2014 </strong>at<strong> 12 noon (Pacific) / 3PM (Eastern).</strong><strong></strong> Click on this link below to sign up!</p>\n<p>Learn how Justin runs his house flipping business, how to connect with other budding house flippers, and ask Justin <em>ANY</em> questions you have about real estate investing and house flipping!</p>\n<p><strong><a href=\"http://houseflippinghq.com/webinar\" target=\"_blank\" rel=\"noopener noreferrer\">houseflippinghq.com/webinar.</a></strong></p>\n<h2>Leave us a Rating and Review!</h2>\n<p>If you’ve found any value or helpful information in the House Flipping HQ Podcast, we’d love to hear about it! <a href=\"itms://itunes.apple.com/us/podcast/house-flipping-hq-podcast/id730653890?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\">Head on over to iTunes</a> and leave us a rating (5 stars would be great!) and review so that others who are interested in starting a house flipping business can find us and get in on the good stuff. <img alt=\":-)\" src=\"http://houseflippinghq.com/wp-includes/images/smilies/icon_smile.gif\"> <a href=\"itms://itunes.apple.com/us/podcast/house-flipping-hq-podcast/id730653890?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\"><em><strong>Click here to leave a review and rating</strong></em></a> If you have any<strong> questions or comments</strong> about this show or it’s contents, <em>please post them in the comments area below</em> and I’ll be happy to answer them!</p>\n<h2>Song Lyrics</h2>\n<p>by Mark Moran, Sung to the tune of <em>Beautiful</em> by Christina Aguillera</p>\n<blockquote><p>Everyday you make offers<br />\nAnd suddenly, an ARV<br />\nMLS seems forever<br />\nIt never goes the way you feel</p>\n<p>This is flipping and every single day<br />\nProperties go away<br />\nFrustration but if you don't give up<br />\nYou will make a buck<br />\nAnd then you'll find a turn of luck</p>\n<p>No matter where you steer<br />\nNo matter what you hear<br />\nA deals around the corner you just have to persevere<br />\nNo matter what you find<br />\nThere is no peace of mind<br />\nWhen you get a contact to sign that contract and everything is fine</p>\n<p>This is flipping and every single day<br />\nProperties go away<br />\nfrustration but if you don't give up<br />\nYou will make a buck<br />\nAnd then you'll find a turn of luck</p>\n<p>Listen close to this podcast<br />\nLearn a lot.&nbsp; All you got.<br />\nRead the blog and make some contacts<br />\nIt's up to you.&nbsp; HFHQ</p></blockquote>\n<p>&nbsp;</p>\n<p><iframe src=\"//www.youtube.com/embed/W5sIHg5I7Mw\" height=\"315\" width=\"560\" allowfullscreen=\"\" frameborder=\"0\"></iframe></p>\n<p>The post <a rel=\"nofollow\" href=\"http://houseflippinghq.com/hfhq-32-get-started-real-estate-mike-simmons/\">HFHQ 32: How to Get Started in Real Estate with Mike Simmons</a> appeared first on <a rel=\"nofollow\" href=\"http://houseflippinghq.com\">House Flipping HQ</a>.</p>","author_name":"Bill Allen"}