What’s it truly take to go from beginner to advanced in real estate? On this episode of the BiggerPockets Podcast, we sit down with Steve Mills, who shares exactly how he was able to overcome a bad first deal, find mentors, work with a partner, and eventually do more than four hundred real estate deals! This show is both highly motivating and informative and will definitely leave you with some great nuggets that you can use in your business to buy more real estate and have more fun doing it!
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We just wa
nted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
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In This Episode We Cover:
- Where Steve comes from and a discussion about Detroit
- How he got into real estate
- The entrepreneurial mindset
- Why you should educate yourself
- What his first deal looked like
- The importance of using bad deals as a learning experience
- Thoughts on selling via a land contract
- Why Steve chose wholesaling
- Details on his first wholesale deals
- How to negotiate your way to getting deals
- What you should know about zoning
- How to understand a lead
- Functional obsolescence
- Changing strategies as your business grows
- A discussion on commercial real estate
- How to find the confidence to do deals
- And SO much more!
Links from the Show
- BP Podcast 093: 0 to 400 Deals (in 5 Years!) via Smart Marketing with Erik Stark
- BiggerPockets Forums
Books Mentioned in this Show
- Think and Grow Rich by Napoleon Hill
- Rich Dad Poor Dad by Robert Kiyosaki
- Psycho-Cybernetics by Maxwell Maltz
Tweetable Topics:
- “Real estate allows so much opportunity and growth in life.” (Tweet This!)
- “Having a group and joining one created a confidence in me.” (Tweet This!)
- “You can’t go acting broke and talking money.” (Tweet This!)
Connect with Steve
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5 Comments
Very properly presented. Each investors should know the real idea or strategy on how to invest in Real estate.
Real Estate Investment, Advisory & Business Development Firm.
Great podcast! Thank you Steve, Josh and Brandon. My favorite quote from this, “buying a Chevy in a Cadillac neighborhood, not the other way round”. Education is key. Even though you have done a lot of deals, you still invest in education to find that 1 new idea. Very motivating. Thanks again.
So far every podcast I hear from biggerpockets is always informative. I love their template style in all there podcast. The eye opener in this podcast is how he double parceled a single property to force create a greater potential in capital. And how he tried to find a way to make money in any kind of property. Genius great insight.
Great interview! What Steve has accomplished is very impressive
Great podcast but I want to give my opinion on wholesaling. Steve made it sound like wholesaling was for beginners – “entry level” is what was said. It is a good place to start in the business When you compare wholesaling to developing land I agree it is “entry level.” However, when you are comparing it to being a rehabber I would disagree. When I first started in the business I thought the same thing. I thought wholesaling was for the newbie or less sophisticated investor. After buying 2,000 homes and being involved in 4,000+ real estate transactions I have learned that is not the case. Wholesaling is way easier and less risky than rehabbing. Set up your business so you can wholesale and don’t ever have to rehab me. Your life will be so much easier if you’re not rehabbing homes. I recently wrote a $4,500 check to a seller that we sold a house to months ago. We did everything 100% by the book and they threatened to sue us. This never happens when you wholesale.