Starting out in the world of house flipping and landlording can be taxing and a lot to take on at first, but it’s all a learning experience, which is why we want you to get to know a master at both, Michael Siekerka.
Michael’s first real estate investing experience was just six months after he graduated college, when he occupied his first purchase by doing a fix and flip. After years of rehabbing properties by partnering with friends for quick income, he eventually found his niche in buy and hold properties. In this informative episode, Michael shares with us how he manages his properties, the criteria he uses to find new places to rent out and the methods he follows to work successfully with hard money lenders and agents to boost his revenue. This is a show to hear if you’re in the market for success!
In This Show We Cover:How to partner with friends correctlyHow to go from a fix and flip business plan to buy and hold propertiesLearning to finance correctlyThe dangers of using hard money lendersThe pros of working with a real estate agentHow to handle a basement leak — after the property is on the marketCollaborating with commercial lendersWhy working a job AND investing can be an ideal setupMaking sure you have a Plan BThe positives of working with a showing agentHow his focuses have changed since his first purchaseImportance of vetting tenantsWhy you should get references for prospective property managersAnd lots more!Links from the ShowHotpadsPostletsBiggerPockets.com/analysis The BiggerPockets ForumsOnline Rent Pay Tools Mike RecommendsIntuitGoogle WalletChase QuickPayBooks Mentioned in the Show Commercial Mortgages 101 by Michael RinehartTim Ferriss’s The Four Hour Work WeekConnect with MikeMike’s WebsiteMike’s BiggerPockets Profile