Is it possible to build a large real estate business without the use of banks? Our guest today, Mike Sumsky, shows us that it’s not only possible – but can be incredibly beneficial! Mike has done well over 100 deals in the past several years using a variety of creative finance methods and shows you how you can do the same.
Listen for great tips on obtaining private money, finding deals by knocking on doors, and other innovative strategies for building your real estate business. Whether you want to overcome a lack of funding or you just want to explore creative ways to raise capital, this is an episode you don’t want to miss!
In This Show We Cover:Mike’s thoughts on creative real estate investingHow he got his first propertiesInvesting while losing a jobThe beauty of taking action without knowing everything yetHow to get your first deal from knocking on doorsThe anatomy of a short saleTips on applying for a bank loanHow to learn while doingClosing on a house with less than 5 thousand dollarsWhat “Subject To” type deals areEverything you need to know about private moneyHow to become “the prize” in each transactionPlus MUCH more!Links From the Show:BiggerPockets’ Trivia (email)BP Podcast Show 105Video of the flood with BrandonAnd another videoBiggerPockets’ List of Real Estate Meet upsCreditKarmaBiggerPockets ForumsBuildiumBooks Mentioned in the ShowBrandon Turner’s The Book on Investing in Real Estate with No (and Low) Money DownThink and Grow Rich by Napoleon HillPitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal by Oren KlaffLandlording on Auto-Pilot by Mike ButlerThe E-Myth : Why Most Small Businesses Don’t Work and What to Do About It by Michael E. GerberWork the System by Sam CarpenterConnect with MikeMikes’s BiggerPockets ProfileMike’s Blog