Week 8 - Getting To The Number

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Real estate investing is a numbers game. You’re not a real investor if you don’t know how to factor in costs in any deal. Even business owners understand the numbers involved in a transaction and how to put those numbers together. Knowing your numbers is one of the most critical parts of investing. One wrong move and you might end up selling at a loss.

Today, Don and Ryan discuss the importance of getting the numbers you need before, during, and after every deal. They describe the many costs investors need to know by heart as well as the ideal percentages and ratios with each one. They also share their experiences when it comes to crunching the numbers as well as a few tips on making a deal even more profitable.

“There’s an opportunity cost to the cost of money - even if it’s your own money.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

  • The five costs in rehabbing.
  • The questions you need to ask when considering the costs of an investment.
  • The percentages you should remember when computing costs.
  • Why being the fastest in a deal matters in a busy market.
  • When do you tighten your numbers?
  • Real world experiences, ROIs, and percentages.

Key Takeaways:

  • In wholesaling, the first deal makes or break you.
  • Never go below the "$1.00 in to $0.50 out" ratio.
  • Always estimate your deals based on the most expensive money you have.
  • When it comes to properties, you always have to buy right. Nothing else matters if you don't buy it right.

Connect with Don and Ryan

  • Don’s email: don@fliptalk.com
  • Ryan’s email: ryan@fliptalk.com

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Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie Play Book and FlipTalk’s REI Round Table. Share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

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49 episodes available. A new episode about every 0 hours averaging 29 mins duration .