44: Creating Systems to Flip Houses While Still Employed with Michael Woodward

Trying to investing in real estate while holding a full time job is tough – but trying to flip houses can be even tougher. From dealing with contractors to finding money to getting the deals in the first place – flipping often feels like a full time job in itself. Luckily, today we talk with someone who is doing all those things while working a demanding day job – and finding great success at it. Michael Woodward sits down with us today to show us the systems he uses to balance both his house flipping with the rest of his life – all while maintaining a full time job. Whether you are a flipper, wholesaler, or Buy and Hold investor – you don’t want to miss this great interview on systemizing your business.

Read the transcript for episode 44 with Michael Woodward here.

In This Show, We Cover

• Why Michael quit his job – but ended up going back into a full time job again
• When’s the right time to quit your job?
• Failure – when it’s necessary
• Learning the tough lessons about doing your own work
• One trick to help you find the very best contractors
• What’s the “Ideal Flip?”
• Why Michael fully furnishes all his properties
• Dealing with troublesome neighbors
• How Michael is funding his flips
• Managing a flip while working a full time job
• The List System that helps Michael know what comes next in a flip
• The best place to buy appliances
• and a lot more

Links from the Show

• BiggerPockets Radio Podcast 003: Getting Started in Real Estate and Raising Money with Brian Burke
• Dropbox.com
• 8 Reasons Why Having A Day Job And Investing In Real Estate Is Awesome!

Books Mentioned in the Show

• The Millionaire Real Estate Investor by Gary Keller
• The 4 Hour Workweek by Tim Ferriss
• The E-Myth Revisited by Michael Gerber

Tweetable Topics

• The nice thing about BiggerPockets is the ability to share what we know. (Tweet This!)
• If you’re going to go big you’re going to have to fail somewhere. (Tweet This!)
• You can talk yourself into any deal. It doesn’t make it right. (Tweet This!)
• The only way to invest in real estate while holding a job is to have systems. (Tweet This!)

Connect with Michael

• Michael’s BiggerPockets Profile

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