A 7 Figure Partnership with Mike Cowper and Mike Simmons
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As part of the celebration of our 100th EPISODE we have the honor of welcoming Mike Cowper and Mike Simmons back to The REI Foundation Podcast. They last sat with us for episode 13 and gave us one asset class that we never thought we’d get into: Wholesaling. These guys have SKYROCKETED our business by giving us the secrets to creating the best wholesaling business. Seriously. We almost doubled our income last year by getting over our static mindset and opening ourselves to Wholesaling. Cowper and Simmons run a SEVEN-FIGURE Wholesaling and Flipping business in Michigan and they are our Mentors and our friends. Don’t you wish you could have friends that give you a roadmap to a seven-figure business? Well? listen in?.
IF A STRANGER COMES UP TO YOU AND ASKS, “WHAT DO YOU DO? WHAT DO YOU TELL THEM?
Mike S – “That’s a funny question actually? I had this conversation with my wife a lot. Because my wife, when I started in the business, she was my business partner and we flipped houses. I wan’t a wholesaler back then. So she gets the business, she understands it. So when someone will say to her, “What does your husband do for a living?” She’ll go, “He’s a Wholesaler.” and they’ll be like “What?” And she’ll say: “He gets houses under contract and then he assigns the contract?” And I’m always like? “Don’t? just don’t? Nobody gets it. No one understands all that. Just tell them I flip houses and move on?” When people ask me, who I have a little? I tell them we are wholesaling in really a traditional sense. If you wholesale anything its kind of the same concept: You buy something at a certain price and you sell it at a higher price?”
Mike C – “I keep it extremely simple. I am a Real Estate Investor?”
For many entrepreneurs this is a highly involved question. Cowper and Simmons not only have a SEVEN-FIGURE Wholesaling and Flipping business they are also Top Mentors with Justin William’s House Flipping HQ. They have separate rental portfolios. Simmons has 17 SFH with his 18th about to close and Cowper has a total of 7 SFH and is a part of a syndication of a 40 unit apartment that he invested in in 2017. Simmons has his own Podcast and educational platform.
Mike S – “Multiple streams of income. I don’t think any one should have all their revenue tied to one thing? so that if that thing goes away? I want the security. It’s the same reason why I like buying SFH as opposed to Apartment buildings or why I put my SFH, the ones I buy, are in different cities. I just don’t want any one thing to be able to submarine my families income.”
Mike C – “The reason I do it: Passive Income. Right? I work and Mike works and our team works extremely hard in our business. And we’re trying to build it to a point were we can step back and allow it to run itself. But at the same time there’s not a better proven model to became wealthy in America than through Real Estate. And buying a house that kicks off 100, 2, 3, 400 bucks a month, consistently over time, is the most tried and true way of doing that?”
BOOK RECOMMENDATION: “TRACTION”
Mike C – Traction is almost a how to manual on how to run an effective and efficient business? It holds you accountable to a few different things? LISTEN IN FOR MORE ON THIS BUSINESS CHANGING BOOK!!!
Mike S – If you would have told me 8 years ago that I would be part of a business like Mike and I are running? I would have been like , “Mind BLOWN. I’m good.. I’m good? I don’t ever need more than that.” But it’s funny when you get to a point that you maybe couldn’t see that far awhile back? but not you can see further. So, for us, even though we might be doing 15 deals a month we just want to grow much bigger than that?.
Mike C – The quote is, “Go as far as you can see and you’ll see further.”
Mike S – That’s what I said?
Listen in for Mike and Mikes FAVORITE MINUTE OF THEIR ENTREPRENEURIAL DAY and WHY MIKE S IS NOT A MORNING PERSON ? and WHY THAT IS OK.
BOOK RECOMMENDATION: “THE MIRACLE MORNING”
GREAT QUOTES and WORDS TO LIVE BY:
“I think the journey is the success.”
“I hate losing more than I like winning.”
“Ethics Matter. Doing the right thing.”
“Be a good person.”
“Do what is important, not what is urgent.”
WHAT WOULD YOU USE TO BATTLE A T-REX?
Mike C – A bow and arrow with a rope around it so I could ‘Star Wars’ his legs.
Mike S – I would try to find another T-Rex and make them fight each other.
ONE ACTIONABLE STEP
Mike C – If they are new and starting today, I would go on any social media? Bigger Pockets, Facebook, whatever? and find everybody in their local area and send a message to every single one of them and take them out to coffee. That is literally how I met Mike (Simmons). I reached out to a ton of people and and just happen to catch him is a spot where he was looking for somebody and (that relationship) turned into this business.
Mike S – I think the biggest mistake that investors make? they take too long to start making offers. ? Start making offers. It doesn’t have to be perfect. If it’s not the best offer in the world you can get out when you dive deeper. You are not a real estate investor until you buy a house?
Want more advice and tips from Mike Simmons? Go to www.juststartrealestate.com
WANT TO BE MENTORED BY MIKE COWPER AND MIKE SIMMONS? Go to www.houseflippingHQ.com and tell them we sent you!
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