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.
- 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: firstname.lastname@example.org
- Ryan’s email: email@example.com
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