E85: Solutions for a Real Estate Flipper's Budgeting Challenges

Mills Knows Bills

Mastering Your Finances: An Insight Into Variable Income Handling and Real Estate Investment In this episode of the Mills Knows Bills Podcast, host Mills Bender is joined by CEO and Founder of Mills Knows Bills, Mills Bender, and real estate entrepreneur Robert Ortiz. They discuss the challenges and strategies associated with managing variable income within a 90-day timeframe. Mills provides practical advice on setting a budget including accounting for future tax obligations, reinvesting in the business for long term growth, and saving for an emergency fund. Robert shares his non-traditional approach to real estate investment which involves flipping land to builders. He also highlights the potential for new team members, sellers, and buyers or builders to join his operations. The episode concludes with Mills suggesting available resources, including coaching programs and courses, for those interested in improving their finances. 00:00 Introduction to the Podcast 01:04 Guest Introduction: Robert Ortiz 01:54 Rob's Burning Financial Question 02:39 Establishing a Budget for Personal Finances 03:42 Creating a Business Budget 04:42 Managing Extra Revenue and Establishing an Emergency Fund 06:36 Reinvesting Profits for Business Growth 10:00 Rob's Real Estate Investment Strategy 13:15 Connecting with Rob 14:16 Conclusion and Final Thoughts