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

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 freeThe secret to living next door to your tenantsTraining your tenantsWhen is an emergency an emergency?Managing your own properties vs. hiring a property managerTips for working a full time job AND investing on the sideFinding good deals on the MLSHow Michael found a partner to invest withLegally structuring a partnership for real estateWays to systematize your businessThe key to finding partners on BiggerPocketsFlipping houses while working a full time jobLinks from the ShowTenants: Customers or Scum? (Training Your Tenants) by Peter GiardiniThe Real Estate Agent’s Ultimate Guide to Working with InvestorsRentecdirect.comOnline Property Management Software list from BiggerPocketsBiggerPockets Keyword Alert SystemBiggerPockets.com/meetThe BiggerPockets Rental Property CalculatorTenant Screening: The Ultimate GuideBooks Mentioned in the ShowThe eMyth Revisited by Michael GerberLandlording on AutoPilot by Mike ButlerFour Hour Workweek by Timothy FerrissStart Small, Profit Big in Real Estate: Fixer Jay’s 2-Year Plan for Building Wealth by Jay DeCimaBuilding Wealth One House at a Time by John SchaubTweetable 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 MikeMike’s BiggerPockets ProfileMike’s Website: www.CandMRental.com