  Part of the role of an acquisitions manager is to have the patience and wisdom of a researcher and the charisma and confidence of a negotiator. Their tasks mainly revolve around fieldwork, settling, and elections to purchase short and long-term lease agreements that meet your business’ goals. Suffice to say, hiring the right acquisitions manager is critical to making sure each contract signed will translate to your company’s earnings. Today, Don introduces his Acquisitions Manager, Ruben, to answer a few questions from our fans on Facebook. Ruben shares his professional background, how he began working as an acquisitions manager, and some of the projects he’s collaborated on so far. He explains how to prepare for an appointment with a new lead and shares key tools and equipment an acquisitions manager should always have access to. He also describes the importance of not just establishing a relationship with the client, but to also make sure you don’t let the momentum grow cold.     “You can't control a lot of things, but what you can control is how you go into that appointment, how you react, and how you raise questions.” - Ruben     This Week on FlipTalk’s Rookie Play Book: How to prepare for an appointment. What is the After Repair Value and why is it important? The tools and equipment to bring for an appointment. The importance of establishing rapport and doing a follow-up as soon as possible. What to do with the appointment if you don't get the contract. His advice for new acquisitions managers.   Resources Mentioned: Never Split The Difference book by Chris Voss Start with No book by Jim Camp John Martinez Rate, Review, Learn and Share   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.   Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Flip Talk Rookie Playbook

Week 28- Let's Talk Acquisitions - I Answer Listener Questions with My RockStar AM RUBEN

  You can invest a lot of money in getting educated and learning from real estate experts, but it will all be for nothing if you don’t take action. Overthinking the risks and methods involved in this type of business will get you nowhere. Sometimes the only advice you need is the advice that makes you walk out that door and get started. Today, Don and Ryan describe the challenges of employing people who look capable on the surface, only to be exposed when pressured and how having quality communications can impact your company’s performance. They also explain how veteran entrepreneurs can make decisions faster than their newer counterparts and express their opinions on building your reputation and how you can prevent it from being ruined.   “A bad result is better than no result. At least you know you got a result.” – Ryan Scialabba     This Week on FlipTalk’s Rookie Play Book: How quality communication improves business performance. Our experience with members who can't keep up with the business. How to get over the fears of hiring and firing an employee. The difference between new entrepreneurs and entrepreneurs running multi-million-dollar businesses. How you can protect your reputation from the mistakes you make. The importance of taking action - even if it ends in failure.   Key Takeaways: It takes five minutes to ruin your reputation if you've done a lot of shady things along the way. Rate, Review, Learn and Share   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.   Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 27- Its Time to Take Action

  You can market your business without scaling, but you can’t scale a business without marketing. Marketing is responsible for getting your business leads, referrals, and closed deals. This is why a properly executed marketing strategy is imperative when it comes to expanding your real estate business. Today, Don and Ryan discuss some of their best-kept marketing secrets and how they led to successfully scaling their businesses. They share the marketing strategies they used, the ones that failed, and which strategies they found most successful. They also explain the importance of learning how a marketing strategy works before trying it and describe what it means to know your customers and how it dictates your business model.   “Marketing comes down to understanding what you're doing and why.” – Don Costa     This Week on FlipTalk’s Rookie Play Book: Why Ryan walked away from pay-per-click marketing. Why demographics are important in marketing your real estate business. How to determine the right business model. When is PPC not the best marketing strategy? The importance of trying different ways to market your business. How long it should take to establish a marketing strategy.   Key Takeaways: Don't trust the people making a commission off of you. Try different marketing strategies and understand why some work and why some don't.   Rate, Review, Learn and Share   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.   Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 26- Marketing Marketing and More Marketing

  Growing a real estate business is a lot like growing plants: A small plant doesn’t need much to grow, but its demands rise exponentially the bigger it gets. This is why a lot of businesses can have a big growth spurt but end up being forced to scale back down because the growth was not sustainable. Scaling up may be expensive but being forced to scale down is costly. Today, Don and Ryan share their secrets for achieving real growth in their real estate organizations and the strategies they use to expand their businesses. They share their insights into what any business owner needs to have to scale successfully as well as the type of challenges they have to be prepared for. They also discuss the different departments your business needs, the kind of spreadsheets you should be using, and how to determine how much one deal can cost you.   “Every dollar you invest matters, whether it's going to be in marketing or hiring personnel.” – Ryan Scialabba     This Week on FlipTalk’s Rookie Play Book: The five departments your business needs to focus on to achieve sustainable growth. Why phone calls need to be answered live, no matter what. Why Excel works for businesses in transition. The numbers you need to know so you can scale successfully. Examples of how costs are broken down for leads, calls, and contracts. The differences and similarities between veteran and new real estate investors in the industry. Why learning how to run a real estate business is a lot like sports.   Key Takeaways: Everybody sitting on the fence waiting for a perfect moment is getting passed every single day by people willing to trust themselves and take risks. If you're not tracking things, you could be aimlessly throwing dollars down the drain.   Rate, Review, Learn and Share   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.   Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 25- Here Is Our Secret to Real Growth

    Whether you’re just starting your business or you’ve been in the real estate game for years, every entrepreneur faces struggles, obstacles, and unexpected setbacks. Sometimes these challenges are due to making mistakes, and sometimes, they creep up due to mindset challenges or feeling like you need to perfect a system or process before implementing it.   On today’s episode, Don and Ryan share the challenges they have faced while starting and scaling their real estate investing businesses. They discuss why hiring help is often one of the hardest transitions for many new entrepreneurs, what systems are and how they enable you to free up your time and streamline your business, and the importance of being comfortable with reinvesting your profits back into your business to continue to grow and scale. They also discuss why it’s more important to take imperfect action instead of striving for perfection. “A system is a boundary. You’re just setting a rule.” - Don Costa   This Week on FlipTalk’s Rookie Play Book:   Challenges we faced while starting our real estate investing businesses. The importance of being comfortable with reinvesting your profits back into the business when you’re first getting started. The importance of learning how to manage your capital and cash flow. The benefits of creating a cash flow projection sheet. The importance of finding lenders that will lend 100% of the rehab cost, holding cost, and purchase cost. Overcoming challenges associated with scaling your business. How using one communication tool across your entire team can help streamline systems and processes. The importance of taking imperfect action instead of waiting for perfection. Tracking metrics and making mistakes in your marketing strategy.   Key Takeaways:   Take imperfect action. Put systems in place to free yourself and scale your business. Your “skin in the game” is your ability to run a solid, strong business.   Resources:   Slack Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 24 Talking Struggles Systems and Moving Forward

    The role of an acquisitions representative in a real estate company is simple: find as many deals as possible, analyze each one, and close most if not all of them. They’re also responsible for market research as well as preparing and presenting investment proposals. However, the complexities of the job revolve around networking and establishing rapport, two soft skills that not many people have mastered.   On today’s episode, Oscar - Don’s Acquisitions Rep - joins us to share his experience in the last month that he has worked in acquisitions. He describes his primary responsibilities in the company, what it was like to apply for this position, and the lessons he has learned since accepting the position. He also explains the importance of establishing rapport when it comes to closing contracts.   “When you’re building rapport with others, you’re also building rapport with yourself in the situation.” - Ryan Scialabba   This Week on FlipTalk’s Rookie PlayBook:   What made Oscar want to work in acquisitions? The strategies he learned that were key for his position. What an acquisitions person should do to increase their volume. How you should build a team when it comes to contracts. How important is company culture and loyalty?   Key Takeaways:   When you're building a team, make sure you're building them for success. The more rapport you build with someone, the easier it is to throw an offer. It’s really important to have someone to chase and someone to teach.   Resources Mentioned:   Driving For Dollars The Light Switch book Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 23- Talking With The Team - Our Acquisitions Rep Oscar

    One of the most important team members is the Transactions Coordinator, a position that includes a wide range of responsibilities that revolve around contracts. Some of the duties of a Transactions Coordinators include overseeing every aspect of buyer and seller transactions from purchase to closing, coordinate escrow, appraisal procedures, mortgage loans, and regularly updating and maintaining communications with agents, title officers, lenders, and clients.   On today’s episode, Don’s Transactions Coordinator Kass joins us to share her experience regarding what a Transaction Coordinator is and why they are critical to your business. She describes her responsibilities and how she manages her duties on a given day. She explains her methods in making sure the work doesn’t pile up on her desk as well as provide tips for those looking to hire a Transactions Coordinator.   “You can't have people on the other end that just want to create drama out of everyday tasks and items.” - Ryan Scialabba       This Week on FlipTalk’s Rookie PlayBook:   What to look for in a Transaction Coordinator. Why a Transaction Coordinator cannot be a pushover. Challenges Transaction Coordinators face on a daily basis. How important is it to have an Escrow Officer? What does Kass do well that makes her work manageable? How does the company make her job easier? The challenges of growing a company from her perspective.     Key Takeaways:   At the end of the day, there are companies that are not on the same goal as everyone else in a deal. There's a lot involved in one real estate deal, so it can be difficult to get everybody on the same page in that time frame. In hiring, give people a chance, as long as there are no glaring red flags.   Resources Mentioned:   Slack Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 22- Talking With The Team- My Right Hand Kass

    If you’ve been thinking about starting your journey into real estate wholesaling, one of the first positions you’ve likely considered filling is a dispositions representative. Someone who can create buyer’s lists, work with your acquisitions team, and keep wholesale business rolling smoothly and seamlessly. But, finding a strong dispositions rep can be a tricky task if you’re not sure who would enjoy and excel at the position.   On today’s episode, Don’s dispositions rep, Justin joins us on the show to discuss what it’s like to work in dispositions. We discuss the key qualities and personality traits you should look for to ensure who you hire to fill the position is a good fit for the role, the roles and responsibilities of a dispositions rep, and the criteria that a property should meet to determine if it’s appropriate to wholesale or rehab the property. We also discuss the common fears that many property flippers face when branching into real estate wholesaling and why it’s critical that your dispositions rep understands the buyer’s criteria when negotiating deals.   “When you’re looking at wholesale and your dispositions guy, you don’t want somebody who is timid.” - Don Costa   This Week on FlipTalk’s Rookie PlayBook:   The importance of having a dispositions rep as a real estate wholesaler. Key qualities and personality traits that make a great dispositions rep. The difference between an acquisitions role and a dispositions role. Common fears regarding wholesaling consistently. The criteria they look for when determining whether to flip a property or wholesale it. How wholesaling can open new doors of opportunity for real estate rehabbers. The roles and responsibilities of a dispositions rep. The importance of a dispositions rep understanding the buyer’s criteria. How to build a buyer’s list. How to identify who your competition is selling to. The importance of providing an asking price when negotiating wholesale deals. What information you should provide to a wholesale buyer.   Key Takeaways:   Do the work. Find an aggressive dispositions rep. Understand your buyer’s criteria.         Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 21 Talking With The Team - Our Dispositions Rep Justin

  Filling positions for your business takes a lot of time and resources, but with enough effort and smart decision making, you could end up hiring the right candidate that can take your business to new heights. One of the most important positions is acquisitions. A great acquisitions manager can significantly impact the growth of your business. Today, Don and Ryan discuss how they hired their first acquisitions person. They share the strategies they used to filtered potential candidates, what they suggest small companies should look for in this role and explain why they see this position as critical to the success of the business. They also provide tips on how to utilize the acquisitions person to their full extent.   Financially, acquisitions is one of the first positions you want to get off your plate.” – Don Costa     This Week on FlipTalk’s Rookie Play Book: Their experience in hiring their first acquisitions person. What makes a good acquisitions person? Why attention to detail is critical in this type of business. The secret in hiring the perfect acquisitions manager. Why you should scale your marketing before hiring an acquisitions manager. What to do if you don't have leads for your acquisitions person?     Resources Mentioned:   Fire Yourself! book by John Rusciano and Lisa Brezonik     Key Takeaways: Acquisitions is a critical position to fill, so make sure you only pick those who share the same passion as you. Rate, Review, Learn and Share   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.   Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 20- Hiring Your Acquisitions Team

  Expanding any business requires a lot of capital, willpower, and people. Depending on how big or fast you want to scale, you can end up hiring more than a handful of experts who will help you grow your business. Hiring isn’t as simple as it seems, though, and there are a lot of factors to consider to make sure who you get for a specific position fits just right. Today, Don and Ryan discuss what you what you need to know when building a team and hiring for the first time. They share their experiences when they hired assistants and managers for the first time, the errors they made, and what they did to rectify the problems they encountered. They also explain why experience is not always critical for new businesses.   “You don't have to hire somebody who is experienced. Sometimes when you're a newer business that's the worst thing you can do.” – Don Costa   This Week on FlipTalk’s Rookie Play Book: Who their first hire was and why they needed to hire. Why experience is not always a necessity in a new company. What they learned from their first hire. Tips on how to know who to hire first. What to know before hiring for the first time.   Key Takeaways: You can make any role efficient and not that expensive if you can do more tasks yourself. The first hire can work out in some ways and not work out in other ways. There's a commitment when it comes to hiring. Not only financially, but also mentally.       Rate, Review, Learn and Share   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.   Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 19- Let's Start Building That Team

  Marketing and advertising play critical roles in the success and longevity of your real estate business. There are many options and strategies you can use to begin promoting your business, finding leads, and acquire new deals to get your business started on the right track. However, this often leads many new real estate investors, flippers, and wholesalers to use the “shotgun marketing” approach - which can eventually lead to failure. On today’s episode, Don and Ryan discuss why new real estate investors should focus on one marketing strategy at a time instead of taking a shotgun approach. They share some of the most common marketing strategies used throughout the industry as well as several that industry leaders often overlook. They also discuss the importance of maximizing your time and money when considering which marketing channel to use in your business and various strategies they used when they were just getting started.   “When you have a smaller marketing budget and you spread it among several things, you’re really just throwing your money away.” - Don Costa   This Week on FlipTalk’s Rookie Play Book: Free and low-cost marketing techniques. The importance of blocking time in your schedule to devote to marketing. How attending and speaking at networking events can help you grow your business. Investing in Pay-Per-Click advertising. Using direct cold calls to find new deals. Incorporating direct mail marketing Advertising your business in newspapers, tv, and radio. How to be successful with cold call marketing, direct mail marketing, and Pay-Per-Click marketing strategies. Lessons we have learned regarding Pay-Per-Click advertising. Creating marketing materials that help you stand out. Evaluating your cost-per-buy metrics. Why new real estate investors should focus on one paid marketing channel at a time. How being consistent impacts your marketing strategy’s success. Why you should test your direct mailing lists. Identifying what marketing strategies work, what doesn’t, and doubling down on what does. How to build your list organically. Marketing strategies we used as new investors.   Key Takeaways: Start with one marketing channel at a time. Learn what works - and what doesn’t. Double down on what works. As you master one marketing channel, you can slowly begin adding other avenues to your strategy. You don’t have to have a big budget to get started, but you have to be committed.     Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.

Week 18- Marketing on Steroids

    A lot of new real estate investors tend to get distracted with the “shiny object syndrome” - the thought that they need to continually recreate the wheel or try something new before they’ve mastered the foundational skills. Many new investors fail to realize that the majority of building a successful real estate career relies on their ability to continually repeat the simple, yet powerful fundamental process that enabled them to achieve success with their first deal.   On today’s episode, Don and Ryan explain why it’s critical to follow the “Rinse and Repeat” model of building your real estate business. They discuss the importance of finding the right people to add to your team, evaluating and reverse engineering the process you used to successfully close your first deal, and the importance of finding constants and removing barriers as you continue to build your real estate empire. They also share stories of how they’ve worked through various unexpected title issues throughout their career and tips for new investors trying to navigate their way through issues with property titles.   “The process is never going to change.” - Ryan Scialabba   This Week on FlipTalk’s Rookie Play Book:   The importance of evaluating your process as a whole. The four core parts of running a successful real estate business. Removing barriers and finding constants. The importance of picking your title attorney. The importance of identifying the end result you want to achieve when building systems and processes in your business. Reverse engineering your processes to remove variables. Digging deeper into the markets you want to explore. Working through title issues and the importance of asking questions and being curious through these issues. The importance of auditing your time.   Key Takeaways:   Don’t fall prey to “shiny object syndrome.” Rinse and repeat the foundational process. Realize that deals blow up multiple times during the closing process. Don’t freak out. Understand that who is on your team truly matters. Put problem-solvers on your team.   Resources: Foremost Insurance Group Farmers Insurance American Modern Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 17- Rinse and Repeat

  By week 16 in your real estate investing business, you have already learned much of the basics of running your business. Finding properties, negotiating deals, renovating homes, hiring a team, and marketing your products for the best possible return on investment are a few of the things you should have already began doing. By now, it often means that everything that comes next in your business is simply a matter of “rinse and repeat” Start from scratch and continue to build your team, grow your efforts, network, and market. Week 16 is also often the time when self-doubt begins to settle in for many new property investors. Today, Don shares why it’s critically important to get your mind right as you continue to build your business. He shares how he handles negative thoughts, self-doubt, and why he believes that having confidence and believing in yourself is a key fundamental of starting your business and taking it to the next level. He also shares the primary difference between highly successful real estate investors and beginners, how honing your sense of value and self-worth can help you operate at a higher level, and why continuing to network and meet new people is critical to the longevity of your real estate business.   “You are all fully and completely capable of making your dreams come true.” - Don Costa   This Week on FlipTalk’s Rookie Play Book: How sticking to the fundamentals can help you achieve success. The importance of learning your numbers. Why believing in yourself is critical to your success. The primary difference between highly successful real estate investors and new investors. How honing your sense of value and instinct helps you operate at a higher level. The importance of networking. What is wholetaling and how you can use it as an exit strategy.   Key Takeaways: This business isn’t hard. The fundamentals are easy. Stick to the fundamentals. A lot of what keeps someone who is newer from taking action is that confidence in themselves - that belief. The only thing that separates those from success and failure in this business is quitting.     Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.

Week 16 - Get Your Mind Right

  As your journey of starting a real estate investing and rehabilitation business continues to unfold, you have likely realized there are many moving parts associated with getting your business off to a great start, landing your first real estate deal, and working your way toward success. At the end of your first quarter, you should already have at least one real estate deal under your belt and should be ready to develop a plan of action on how you want to earn a profit from that deal. On today’s episode, Don and Ryan recap where your real estate investing business should be at the end of Quarter 1 as well as provide a basic understanding of what you can expect in Quarters 2, 3, and 4. They also share the topics they will discuss in future episodes that will help you get a better understanding of how to run and operate your business and create systems and processes that will support the growth of your company.   “Honing in on your craft can really be the make or break point to getting your first deal or leveling up in your business.” - Ryan Scialabba   What’s Next on FlipTalk’s Rookie Play Book: Building your wholesale buyers list. Marketing strategies you can use to attract contractors for your real estate rehabilitation project. Avoiding mistakes during construction and rehabilitation projects. Systems and strategies for achieving the maximum profit possible. Basic hiring and team building strategies What to expect during Quarters 3 and 4. Putting systems and processes in place that work best for your real estate business.     Rate, Review, Learn and Share   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. Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.

Week 15- What's Next

  Hiring and managing contractors is often one of the most challenging aspects of owning a real estate rehabilitation company. There are many moving parts and things to consider when finding and hiring the right contractors to work on your rehab project. Understanding where to find good contractors as well as how to properly vet and train them is critical to building a successful real estate business.   Today, Don and Ryan discuss how working with the right contractors can impact the success of your real estate business. They explain how your local market can impact the cost of property repairs and how to use inspection periods to properly vet contractors and make better buying decisions. They also share strategies on finding good contractors to work with, the characteristics of a good, trustworthy contractor, and the benefits of working with and training newer contractors instead of veterans.   “Once you find a good contractor, it changes your business forever. You become unstoppable as a flipper.” - Don Costa   This Week on FlipTalk’s Rookie Play Book:   How to identify the level of renovation you need to accomplish on your rehab project. The importance of basing your offers on the most conservative number within your estimate range. How to train property acquisition managers. The benefits of taking photos and video during the initial walkthrough of a property renovation project. What to consider when estimating repairs. The importance of knowing the numbers in your market. How your local market can impact the cost of property repairs. How to develop a standardized price list for repair costs in your market. Using inspection periods to make better property buying decisions. Characteristics of a good contractor. How to assess contractors. How to set your contractors up for success. How to avoid contractor burnout. Where to find contractors to work with. The benefits of working with newer contractors. Navigating the bidding process. How line item bids help avoid misunderstandings and instances of miscommunication. Dealing with pushback from contractors   Resources Mentioned:   National Standard for Property Repairs Sheet Our 4-Page Bidding Process   Key Takeaways:   Make it a point to know your numbers in your market. Hire the person first, then the skillset. Ask for references from other investors for good sub-contractors. Realize your resources are all around you - you just have to be resourceful. Don’t be afraid to assert your system and process on your contractors Rate, Review, Learn and Share   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.   Join the community of FlipTalk fans on Facebook  and visit our website for even more content, information, and resources about real estate investing.  

Week 14- Working With Contractors

Flip Talk Rookie Playbook is a no BS podcast with the specific goal of giving real usable and solid information that you can use to start or grow your real estate business.

hubhopper

Flip Talk Rookie Playbook

hubhopper