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 455: 21 Hiring Tips From a Guy Who Works at Indeed.com

June 4, 2021

Full Episode >

21 Hiring Tips From a Guy Who Works at Indeed.com

June 4, 2021

We bring one of our 7 Figure Altitude members, Waylon McGill, on the podcast to explain his insider secrets based on his experience working for Indeed, the #1 job board / hiring platform in the nation. Learn how to find good people for your real estate investing team, how to run interviews, when to hire, what positions to prioritize, and so much more. Listen in now!

Full Episode >

Who These 3 Investors Are Hiring (And Why)

June 3, 2021

Who These 3 Investors Are Hiring (And Why)

Full Episode >

Finding and Hiring Perfect Employees

May 28, 2021

Terry Burger breaks down the hiring process we teach the real estate investors in our 7 Figure Altitude and 7 Figure Runway mentoring groups. Nobody is actually perfect. But when you’re hiring people for your team, you can get pretty close if you know how to do it right. Learn the two best sites to post job ads, the four screening questions you should always ask, how to save time when hiring, and more tips and hacks. Listen in now!

Full Episode >

How to Grow Your Team (Without Panic Hiring)

May 26, 2021

At our real estate investing mastermind event in Cancun a few weeks ago, hiring was the #1 problem that got brought up again and again. Terry is answering your questions about when you should hire someone to help in your business, how to know if you’re ready to hire, how to switch from “panic hiring” to “planned hiring", what he’s learned from a few “bad” hires, an example of a solid job description, and more. Listen in now!

Full Episode >

Update on My Son James

May 20, 2021

Today’s episode of the 7 Figure Flipping Podcast is a little different. It’s not about real estate investing. It’s a personal story. My son James was born with Congenital Heart Disease. Today he’s heading in for another surgery, hopefully the last for a long time. I wanted to take a few minutes and update those of you who have been following his story.

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.