After working a blue-collar union job, going back to college, then working a white-collar corporate job, Mike Simmons made the decision to invest in real estate. However, procrastination, fear, too many options, and self-pity made it difficult for Mike to get started. He spent 5 years attending real estate events and networking with others before finally pulling the trigger. He began flipping houses and soon left his job to focus on the flipping business.
Mike Simmons is the author of “Level Jumping” and host of the Just Start Real Estate podcast. He shares how you can use other people’s experience to expedite your growth and skip levels on your accent. In this episode, Mike shares how he overcame his fears and finally got started, how he leveraged a mastermind to accelerate his growth, and tips to scale your business.
Key Multifamily + Marketing Insights
How a midwest kid tied to the auto industry, went back to college at the age of 32
Recognizing the rat race for exactly what it was and getting out
Learning real estate investing
Why it took 5 years before Mike did his first deal: Got locked into the procrastination (fear) and analysis paralysis (too many shiny objects)
When you start doing something and get some momentum, that is the most valuable education you can get.
What made Mike snap out of it and start moving forward in real estate investing
If you have a goal, tell the world; it keeps you accountable
Transitioning from side hustle to full-time investor
Why success didn’t allow Mike to expand his expectations of himself
How systems, processes and a great team can give you your life back
Understand people’s hindsight and use it as your foresight
The reasons behind starting a mastermind: Surrounding himself with people who are at a higher level to feed off their knowledge and experience
Level Jumping to a million dollars gross profit
How to hire a great salesperson for very little money, while building your business
Tracking your numbers should be top priority to scale your business
The biggest key to scale your business: Bridging the gap between operator and leader
Partner: Download our Sample Deal Package
Over leveraged a high-end property and lost 6 figures, taught him that making smart decisions rather than ego-driven decisions is the better, and more profitable way to go.
Deal Machine (app to find deals)
Most Recommended Book:
Extreme Ownership (Jocko Willink & Leif Babin)
Listen to motivational speeches
Wish I Knew When I Was Starting Out:
New investors focus on the wrong things starting out. Focus on the macro view not the micro view.
How to manipulate your brain and body in ways that are productive to getting you to where you want to go.
Best Place to Grab a Bite in Detroit, MI
Just Start Real Estate Podcast