389: He Changed His Strategy & Is Now Making $1M/Year! With Mike Simmons
Published July 2, 2020
89 min
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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 wholesalingWhy wholesaling is NOT always a great thing for newbiesThe marketing channels Mike uses to do 100 deals per yearUltra-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 marketingHow he made a $50K assignment fee and the key lesson he learnedHiring and managing transaction coordinatorsHiring his first salesperson on a "straight commission" pay structureUsing personality assessments like DISC and Kolbe when hiringWhy intelligence is not the most important predictor of success in real estate investingAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets PodcastBiggerPockets Podcast 050: Getting Started and No Money Down House Flipping with Mike SimmonsBiggerPockets InsightsBiggerPockets Insights Rent EstimatorGary Vaynerchuk's InstagramGary Vaynerchuk on Finding Deals Through Social Media & Crushing It as an EntrepreneurKOLBE Personality TestCheck the full show notes here: http://biggerpockets.com/show389
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