In this episode we discuss some of the pros and cons of "active" real estate investing -- the opposite end of "passive" real estate investing.  That means you're actively involved in the deal -- whether that is wholesaling, rehabbing, or flipping properties.  It's certainly not for everyone, but it can be a good business for those with the desire and time to do so.

Our guest is Mike Hambright.  Mike is real estate investor, mentor and entrepreneur who has purchased and renovated hundreds of houses from when he started in 2008.  Mike recruits and mentors new franchisees into the "We Buy Ugly Houses" system.  And he's also the founder of FlipNerd.com.

If you missed last week’s episode, be sure to listen to Nationwide Rental Property Insurance.

Enjoy the show!

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Pros and Cons of Active Real Estate Investing with Mike Hambright
Today's show is a little different. It's about the active real estate investing side of the equation. I am bringing on one of my friend's here today who is heavily in that space on rehabbing and finding properties to fix and flip or keep for himself, what we call distressed properties. Sometimes these are also distressed sellers. It's not always that the property is ugly. It could be that there's a situation where you have a distressed seller. There's some life event or situation going on and they just can't afford to keep their house and they have to sell it. You may be able to find a good deal like that where you pick it up and get a really good price. All you have to do is some cosmetic work and you can keep that house or you can flip that house or you can flip the contract, something known as wholesaling. I just wanted to expose you to the other side of the real estate investing spectrum. I focus on the passive side because I just like to have those streams of cash coming in and being able to do other things. I know there are people who are on the fence and thinking about rehabbing or thinking about flipping properties or doing something along those lines. I thought I'd bring Mike in today to talk about that.

It's my pleasure to welcome Mike Hambright to the show. Mike is a real estate investor, a mentor, an entrepreneur who has purchased and renovated hundreds of houses from when he started back in 2008. Mike recruits and mentors new franchisees into the We Buy Ugly Houses system, which he'll talk about. He's also the founder of FlipNerd.com and the related podcast show, Flip Nerd. Mike, welcome to the show.

Hey, Marco. Thanks for having me.

It's great having you on. Let's start off by telling our listeners where you're located.

I'm based in Dallas, Texas. Things we do are more and more becoming virtual but that's where home is.

Active real estate investing would be things like wholesaling, rehabbing, and flipping.

Mike, the reason I wanted to bring you on the show, it seems like a little bit of an antithesis to what the show is about. The theme of my show is passive real estate investing. There are a lot of people out there who think about the active side of it or maybe want to dabble in it. Passive real estate investing to me is having streams of cash versus having chunks of cash. Active real estate investing would be things like wholesaling, rehabbing, and flipping. This is really what you've done a lot of and you're really good at. That's the whole reason I wanted to have you on the show. Let's start off by introducing our listeners to who you are and where you came from. Maybe talk about your story, how you went from corporate America, you and your wife, into the real estate space.