From Behind Bars to Building Wealth with Michael Green

My guest is Michael Green—his story is compelling. He spent four years in prison, which he says was just the amount of time he needed [in “the slammer”] to make him a better person.

Now he's an expert house flipper who teaches others how to implement simple systems to find great contractors to get jobs done "ON time" and "ON budget." He also host of the Flip Factor podcast and has flipped over 1100 houses the last ten years.

As a kid, Michael had a history of getting into trouble. His dad was a career criminal—something they bonded over. Age 9, he was caught selling fireworks at school. Age 16, he already has his own apartment. Making lots of money enabled him to buy a Corvette as a teenager (and hire an attorney when he was arrested).

In this conversation, he talks about daily life behind bars, creative things he did in the pen ("necessity is the mother of invention") and why he says, "You don't want to be a white guy in prison."

Michael also tells a great story about a young man who came to work for him for free, parlaying a simple lifestyle & a dream into Hollywood stardom.

Other topics we discuss:

How he paid off $110,000 in debt

When Michael first made six figures

How being 'good at work' is not enough

Importance of getting a broad education

Dave Ramsey says "'flipping' is for losers"

Michael's advice to get people on track with house-flipping

Finding the right Realtor to help with flips

Buyers are intuitive

Importance of pricing a home precisely

Competitive offer situations

Pricing a home according to its market value (with no added emotional value)

Building relationship by actually talking to people

Surrounding yourself with badasses

Questions asked:

How many hours where you locked up per day?

How did you manage your sex drive while you were locked up?

What’s your opinion of tax payers footing the bill for rehabilitation of prisoners?

Are you know a happy taxpayer (to help support programs to rehabilitate prisoners)?

Did they put you in with the murderers & rapists?

What’s the hardest drug you sold?

What’s your relationship like now with your dad?

Is there anything you figured out how to do [in prison] out of necessity?

Is [prison] where your desire to learn more about emotional intelligence started?

When you got out of prison, how did you spend your first 72 hours?

What do you mean when you say: You don't need resources but you need to be resourceful?

Can you walk me through the last 15 years after prison & transitioning into what you are doing now?

Are you a fan of Dave Ramsey?

How do you think about cost & pricing when approaching a flip?

Fun questions:

What's the biggest misconceptions of flippers?

At what age do you think you will be a multi-millionaire?

Do you own any individual stocks or index funds?

What was your biggest loss?

What would you say to someone who is 31 years old who thinks they haven't "made it" yet?

If someone dropped $1 million in your lap tomorrow, what would you do with it?

Have you ever had a problem getting money from lenders due to the time you spent in prison?

How do you think your life would be different if you had not gone to prison?