Thinking without doing is crippling.
In this episode, I interview a really impressive real estate investor named Steve Mills. Steve first entered my radar as a wholesaler. I knew that he was a very big wholesaler here in Michigan, but I was surprised to find out exactly how experienced and successful he is as an overall real estate investor. He’s much more than just a wholesaler, and we get into that in this interview. I split this interview into two parts because it was going so incredibly well that I just had to find out more, and the interview went much longer than expected. Next week, I will air part two of this incredible interview.
Steve Mills is a successful entrepreneur, real estate investor, developer, marketer, and giver. Born October 19th, 1983 and raised in Metro Detroit Michigan, he’s co-founder of Michigan Property Superstore, a wholesaling and flipping company that’s bought and sold almost 400 properties since 2008. Steve is also managing member in a development company, and owner of Chunk of Earth Real Estate, a holding company whose portfolio includes single-family homes, multi-family homes, land, and commercial properties.
Steve has consulted and coached some of the most influential real estate investors and speakers across the nation. Although doing deals and creating opportunity is his “day job,” personal development and creative wealth building is his focus.
Steve shared with us that he began his real estate career in the mortgage industry. He wanted to learn everything he could about real estate from all various angles, and chose mortgages to start his education. Mortgages played into his strong suit, which he admits is selling.
Once he transitioned out of mortgages because he didn’t want to have a day job, he shifted his focus to real estate investing. Today, Steve and his business partner run a real estate investing company that has four main areas of focus – flipping, wholesaling, income properties and land development deals. Steve feels that it is necessary to have a well rounded business that feeds all four of these aspects in order to effectively in order to work in real estate full-time.
Steve has a great tip for new real estate investors: do one thing per day for your real estate investing career. If you don’t know how to do something, look and ask for help. For example, if you don’t know how to quote a rehab, find a house that needs to be rehabbed and walk through it with the contractor. They will give you a very good free education on what needs to be done and ultimately what it will cost to do that work. That is great advice and I absolutely encourage all new real estate investors to do this. Don’t wait until you know how to quote a rehab; get out there and walk through it with a contractor.
Two great quotes from the interview:
Thinking without doing is crippling.
Knowledge, without action, turns to fear.
Steve shared with me that most of his deals are gotten through follow-up. Follow-up does not just mean making one call to a seller and, if they’re not interested, never calling them back. Follow-up is not just using one avenue, such as the MLS, to get deals. Follow-up means calling realtors, calling attorneys, direct marketing, networking, etc.
Steve talks a great deal about the art of direct marketing and, more specifically, the art of knowing how to speak to sellers. He uses a term called taking a person “off the market“. By taking them off the market, what he is essentially saying is that he treats them so well, and listens so closely to their needs, that they no longer want to do business with anyone else but him. They are essentially “off the market,” so to speak. This allows him to do far more deals than he could do if he were all about the money and volume of deals. Because he takes the time to be a real human being, and to listen and empathize with another human being, he is able to do more quality deals than he could if he were just treating each situation like a dollar sign. There was a lot more that was said in this interview! Definitely check out the first half of the interview on iTunes to get all of the valuable content! Look for the second half of this interview in one week. You will not want to miss it. I guarantee you will learn something valuable that can change your business immediately!
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