256: Don't Make These Mistakes With Your Contractors (Lessons Learned)

June 26, 2020

About This Episode

House flippers, listen up… we need to talk about contractors.

It’s not enough to just find a “good” contractor to handle your flip projects. You also need to know how to build an effective, long-term working relationship with that contractor… and this requires setting expectations correctly, managing your renovations, running the numbers the right way, and more.

In this episode, Mike Simmons shares the lessons he’s learned from working with many different contractors on countless flips over the years… so you can learn from his mistakes.

We’re digging into stuff like…

…and more.

It’s been awhile since we’ve caught up with Mike Simmons. Mike is an incredible real estate investor with a background in both flipping and wholesaling. He’s a mentor, a coach, and a good friend.

And these days, he’s also an author.

Mike’s new book “Level Jumping” is flying off the shelves. (Does Amazon have shelves? Hmm…) The book is all about how to break out of the cycle of “I can’t grow until a hire a team, but I can’t hire a team until I grow.” There’s a saying… “You don’t know what you don’t know.” This book will answer the questions about flipping and wholesaling houses that you DON’T KNOW TO ASK.

You can get it on Amazon (click here), or you can get a FREE digital copy by texting the words “Just Start” to 55444.

Oh, and a quick note about Amazon… whenever you’re shopping on Amazon, go to smile.amazon.com and do your shopping there. Same exact site, but a portion of your purchases will go to the charity of your choice. Pretty cool! Catch you on the flip side!


Free Resources / Downloads

5F Framework

A business framework that creates consistency within your flipping business by giving you a tested roadmap to building real estate wealth.
5 Proven Steps to Build Active and Passive Income in Real Estate (FREE!)

Get Access Now

Freedom Number Calculator

The 2-Minute Exercise That Shows You Exactly How to Build Toward Your Life of Freedom.This quick (and powerful) quiz will help you calculate exactly how many deals you need to support your ideal lifestyle and how close you already are. Most investors don’t fail from lack of effort, they fail from lack of direction. No guesswork. No fluff. Just a clear target—and a plan to make it real.

Get Access Now

Adam Whitney’s Seller Call Script

Use the same script Adam uses while on the phone with sellers

Get Access Now

Off-Market Deals on Demand

Get the UltimateOFF-MARKET DEALS Starter Pack...For FREE! Niche lists, seller strategies, a hyper-local market tracker, and a bonus!

Get Access Now

Grow Your House Flipping / Wholesaling Business WITHOUT Guesswork or Trial-and-Error

Find out EXACTLY what you need to be working on TODAY to do more deals, make more money, and free up your time.

Explore More Episodes...

7FF 639: How to Escape the “Cash Flow Rollercoaster”

May 11, 2023

Today I’m sharing something that I originally posted a little over 3 years ago, breaking down how house flippers and wholesalers can fix cash flow problems and keep more profit… check it out!

Full Episode >

7FF 638: Biggest Problem in the Housing Market Right Now

May 9, 2023

There’s a huge problem in the housing market right now… and if you can figure out how to solve it, you can pretty much “print money.” Here’s the real estate market update you’ve been waiting for…

Full Episode >

7FF 637: Another Teenager Just Made $22,100 on Her First Flip…

May 4, 2023

16-year-old Ryleigh Eckles just flipped her first house and made $22,100. She’s joining me on the podcast today to break down how she found the deal, how she funded it, how she handled renovations, who she worked with, how she sold it, and more!

Full Episode >

7FF 636: How to Get Your Kids Involved in Real Estate

May 2, 2023

A little over a week ago, I had a 16-year-old girl on the podcast to share how she had just flipped her first house. Today, I'm interviewing her parents! If you want to see your kids working hard and taking control of their lives, this episode is for you…

Full Episode >

7FF 635: If You Want Multifamily Deals, Do This…

April 27, 2023

I mostly talk about flipping houses and wholesaling, because that’s where I’ve made most of my income. But I’m actively doing multifamily and commercial deals too. And if that’s something you want to get into, check this out!

Full Episode >

7FF 634: How to Achieve Exponential Growth in Your Business

April 25, 2023

I just spent a week hanging out on the beach in Mexico with hundreds of high-level real estate investors. It was our annual tropical retreat for our 7 Figure Mastermind members… and if you weren’t there, here are the biggest takeaways, lessons, and aha-moments you missed!

Full Episode >

Ready to Build a Business That Finally Works?

Ready to find your tribe?

Don’t stay stuck in chaos or settle for another year of inconsistency. Join a serious community of operators who are building businesses that matter. This is your moment.

Click below and we’ll help you determine which program is the best fit for you.