106: How to Do 100+ Deals Without a Bank (While Raising Unlimited Funds) with Mike Sumsky | Bigger Pockets Podcast
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 investing
How he got his first properties
Investing while losing a job
The beauty of taking action without knowing everything yet
How to get your first deal from knocking on doors
The anatomy of a short sale
Tips on applying for a bank loan
How to learn while doing
Closing on a house with less than 5 thousand dollars
What “Subject To” type deals are
Everything you need to know about private money
How to become “the prize” in each transaction
Plus MUCH more!
Links From the Show:
BiggerPockets’ Trivia (email)
BP Podcast Show 105
Video of the flood with Brandon
And another video
BiggerPockets’ List of Real Estate Meet ups
CreditKarma
BiggerPockets Forums
Buildium
Books Mentioned in the Show
Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down
Think and Grow Rich by Napoleon Hill
Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal by Oren Klaff
Landlording on Auto-Pilot by Mike Butler
The E-Myth : Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber
Work the System by Sam Carpenter
Connect with Mike
Mikes’s BiggerPockets Profile
Mike’s Blog
Learn more about your ad choices. Visit megaphone.fm/adchoices
