I had a great time on this podcast with my friend and fellow real estate investor Mike Butler. If you aren’t familiar with Mike, he has a pretty interesting story about how he got started. In fact, pretty much all of his stories are interesting.
Mike explains how being so good at “interviewing” criminals; so good in fact that they would confess to crimes the police department didn’t even know they had committed helped him to connect with motivated sellers. He also talks about how his unique ability to connect with motivated sellers allowed him to beat out other local investors (who offered a higher price) just about every time in spite of his somewhat scary “undercover look.
So let’s dive right in to the podcast. Today’s topic is “creating systems for your REI business”; here is some of what you will hear…
Here is just a sample of what we discussed in this interview.
- How Mike managed to buy so many houses while he was still an undercover police detective
- What made him finally “retire” from the police department and invest full time
- That moment when Mike knew things had to change; creating sytems would allow him to survive and grow his business
- Creating systems. the first system he created for his REI business
- Systems that should be created for every real estate investing business
- How to determine what systems you should create in YOUR business
- Why you must systematize your business especially if you are a “one man shop”
- How he created a company website for his business with so much automation it allows him to need less office staff
- The perfect property management company; the one you create; the one where you pay that 10% management fee back to YOURSELF
- More advantages of setting up your own property management company
- The entity structure he used for his management company for tax advantages
- How many houses you ideally need before you set up your own property management company
- The amount of money most investors say they need each month for cash flow; this number might surprise you…
- Mike’s unique “Tenant Finder Service” and how you can tap into his business model
- The procedures and policies he has in place so he never has to disqualify a tenant
Creating systems for your REI business is critical for scaling your business. What systems have you created for your business?
You Can Listen to the Podcast Here
[podcast title=”Building a Scalable Landlording Business with Mike Butler”]http://traffic.libsyn.com/letstalkrealestateinvesting/MikeButerLetsTalkRealEstateInvestinge22p1.mp3[/podcast]
[podcast title=”Building a Scalable Landlording Business with Mike Butler Part 2″]http://traffic.libsyn.com/letstalkrealestateinvesting/MikeButerLetsTalkRealEstateInvestinge22p2.mp3[/podcast]
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Mike Butler.com This is where you will find all of his programs, home study courses and training events as well as his annual “Seminar at Sea” the Great Investor Cruise
VistaKY.com– His business website that works for him 24/7 doing a lot of the work traditionally done by office assistants
Mike Butler is a real estate investor from Louisville, KY. While working his full time job as an undercover police detective, he began buying “fixer-uppers” and renting them out to make extra money. It didn’t take him long to figure out that this was his ticket to wealth and long term financial security.
Mike is a two term past president of the Kentuckiana Real Estate Investors Association, and he served on the board of the National Association of Real Estate Investors for 3 years. He is also a dad, a husband, an investor and is a much sought after speaker and trainer around the country.
Mike has been featured in Money Magazine and also as an expert on Wall Street Journal Radio as well as numerous other media outlets.
He is also the author of the book “Landlording on Autopilot” which made the #1 Best Seller Business Books on Amazon
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