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BiggerPockets Podcast 106: How to Do 100+ Deals Without a Bank (While Raising Unlimited Funds) with Mike Sumsky

BiggerPockets Podcast 106: How to Do 100+ Deals Without a Bank (While Raising Unlimited Funds) with Mike Sumsky

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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!

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Sponsor

logo_c04f5f61-f5d8-4333-a2b7-a12a07d8bfd3_mediumWe just wanted to give a shout out to our podcast sponsor on today’s show: YellowLetters.com. YellowLetters is a full service marketing company that helps hundreds of BiggerPockets members find more deals and make more money.

In This Show We Cover:

  • Mike’s thoughts on creative real estate investing
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  • 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:

Books Mentioned in the Show

Connect with Mike