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!
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In This Show We Cover:
How to partner with friends correctly
How to go from a fix and flip business plan to buy and hold properties
Learning to finance correctly
The dangers of using hard money lenders
The pros of working with a real estate agent
How to handle a basement leak — after the property is on the market
Collaborating with commercial lenders
Why working a job AND investing can be an ideal setup
Making sure you have a Plan B
The positives of working with a showing agent
How his focuses have changed since his first purchase
Importance of vetting tenants
Why you should get references for prospective property managers
And lots more!
Links from the Show
The BiggerPockets Forums
Online Rent Pay Tools Mike Recommends
Books Mentioned in the Show
Commercial Mortgages 101 by Michael Rinehart
Tim Ferriss’s The Four Hour Work Week
Connect with Mike
Mike’s BiggerPockets Profile
The post BP Podcast 094: House Hacking, Partnerships, and Investing in Multifamilies While Working a Full Time Job with Michael Siekerka is property of The BiggerPockets Blog. and is Copyright © 2014 BiggerPockets, Inc. All Rights Reserved.