On today’s episode of the BiggerPockets Podcast, we cover a huge range of really important topics with real estate investor Mike Sherwood, including investing while holding a full time job, working with a partner to grow quickly, getting started with a small multifamily property, and a lot more.

Mike has invested in the Buffalo, NY for several years now, doing both rentals and is getting into fix and flip, so he has a ton of insight for both those just getting started and for those with a lot of experience already.

This show has so much good information and helpful tips for any real estate investor, this is going to be one you’ll want to listen to over and over just to make sure you get all the great nuggets out of it.

Read the transcript for episode 51 with Mike Sherwood here.

In This Show, We Cover:

Buying a small multifamily to live for free
The secret to living next door to your tenants
Training your tenants
When is an emergency an emergency?
Managing your own properties vs. hiring a property manager
Tips for working a full time job AND investing on the side
Finding good deals on the MLS
How Michael found a partner to invest with
Legally structuring a partnership for real estate
Ways to systematize your business
The key to finding partners on BiggerPockets
Flipping houses while working a full time job

Links from the Show

Tenants: Customers or Scum? (Training Your Tenants) by Peter Giardini
The Real Estate Agent’s Ultimate Guide to Working with Investors
Rentecdirect.com
Online Property Management Software list from BiggerPockets
BiggerPockets Keyword Alert System
BiggerPockets.com/meet
The BiggerPockets Rental Property Calculator
Tenant Screening: The Ultimate Guide

Books Mentioned in the Show

The eMyth Revisited by Michael Gerber
Landlording on AutoPilot by Mike Butler
Four Hour Workweek by Timothy Ferriss
Start Small, Profit Big in Real Estate: Fixer Jay’s 2-Year Plan for Building Wealth by Jay DeCima
Building Wealth One House at a Time by John Schaub

Tweetable Topics

“Establish guidelines upfront with your tenants to save yourself a lot of trouble.” (Tweet This!)
“I wish there were more agents who understood what investors want.” (Tweet This!)
“You can make any real estate deal look good with 80% down.” (Tweet This!)
“The most important thing in a partnership is being able to constructively handle differences.” (Tweet This!)

Connect with Mike

Mike’s BiggerPockets Profile
Mike’s Website: www.CandMRental.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

51: Small Multifamily Properties, Working a Full Time Job, and Training Tenants with Mike Sherwood 01:09:40

BiggerPockets Real Estate Podcast

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51: Small Multifamily Properties, Working a Full Time Job, and Training Tenants with Mike Sherwood