Welcome to this week’s episode of the Flip Talk REI Round Table podcast with your host, Don Costa, and his guests, Ryan Scialabba and Aaron Archibald. Each week, Don shares what’s happening behind-the-scenes of their real estate investing businesses, the trials and tribulations they encounter and overcome, and the strategies and systems they use to build a successful real estate investing business.
On this week’s episode, they share the obstacles they’ve overcome over the last year as real estate investors and the lessons they have learned through the mistakes they’ve made. They also share tips, strategies, and best practices they use to help them get the best deals in real estate, hire efficient team members, and important lessons they’ve learned about working with contractors.
“It’s those little, daily details that make you a 7-figure business versus a 6 or 5 figure business.” – Aaron Archibald
This Week on FlipTalk’s REI Round Table:
- How purchasing properties and using the MLS system has worked for them
- How to overcome the challenge of running out of rehabilitation properties
- Overcoming obstacles when placing rehab properties on the wholesale market
- How harsh weather affects project projections when buying properties
- Leveraging bad weather months and winter repair seasons
- The benefits of having multiple in-house construction teams
- The benefits of keeping tight deadlines with contractors
- The importance of being accountable and relentless of achieving your goals
- Creating back-up systems to prepare for losing key team leaders unexpectedly in your organization
- Overcoming hiring challenges and creating a training strategy
- The importance of articulating your expectations when hiring a new employee
- The challenges of setting aside time to develop your team’s leadership abilities as well as your own
- Pre-define the position you’re hiring for.
- Articulate your expectations to the person you are hiring.
- Don’t throw too much responsibility on a new hire too soon.
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