Everybody is busy. We have jobs, kids, businesses, and responsibilities to take care of. Why go out of your way and risk your money and time to invest in real estate? Mike Webb, firefighter, investor, flipper, and wholesaler argues the opposite. Mike says that it’s far riskier to simply rely on your job for the entirety of your income.
Mike began his investing career by investing in a side-by-side duplex, rehabbing it, and failing to complete a successful BRRRR. After seeing the cash flow and learning from his mistakes, Mike saw an investment strategy that could carry him to financial freedom. He is still working as a full-time firefighter, but is building his portfolio and completing 20-30 flips per year while he does so. This gives Mike the ultimate freedom to do whatever is best for him and his family, even though he loves his job.
In a world where it seems cool for everyone to quit their job, Mike reassures those who like their work that it’s worth staying, especially to keep that investment money flowing. He also walks through his partnerships, how he hires his team members, and what you can do to systematize your business so you can outsource your work as you take on more strategic roles!
In This Episode We Cover:
Why you don’t have to choose between a career and investing in real estate
Learning from your first deal and using your newfound knowledge to expand
Why the 1% rule and 2% rule shouldn’t be the ONLY metric you consider during deal analysis
Using the BiggerPockets Forums to meet partners, mentors, and other real estate professionals
The “OODA Loop” and why it’s a great tool for organizations
Starting a meetup and being in the know with local investors
Why working AND investing decreases your overall financial risk
And SO much more!
Links from the Show
BiggerPockets Podcast 469: Why Do Investors Lie to Themselves? +More Audience Q&A (Pt. 2) (Mike's question)
BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene
Check the full show notes here: https://biggerpockets.com/show482
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