  All good things must come to an end, and it’s no different for the Rookie Playbook series. It’s been an amazing 48 weeks, and we believe if you’ve come this far, you are now fully equipped with the knowledge on how to run your own real estate business. This isn’t a goodbye from your hosts as much as it is a see you soon, however, and we want you to know that we have plans set out for other shows that can help you with your real estate journey. Today, Don and Ryan explain why they’re ending the show earlier than expected. They describe their other projects as well as what the audience can expect from the podcast. They share some of their recent real estate challenges and how they solved them. They also share some last-minute tips in managing a real estate company.   “If you can see that vision, if you can set the plans to your goals, you're going to get there so long as you put in the work.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: Why they're wrapping the show earlier than planned. Rookie Playbook version 2 and what it would be about. Dealing with highs and lows in this business. Some of the business challenges they experienced and how they solved them. The new shows they have planned for their audience.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Flip Talk Rookie Playbook

Week 49- Final Rookie Playbook

  Selling your rehabs aren’t as complicated as buying a property, but it’s not exactly a walk in the park either. There are many factors to consider before letting go of your hard-earned asset for cash in the bank. From analyzing the neighborhood, computing costs and price points to creating the contract, you have to take the right steps and consult with the right people to make sure you’re not marketing yourself short. Today, Don and Ryan discuss the processes involved in turning your property into money in your pocket. They share their methods in computing costs and margins and explain the importance of knowing the market you’re in before you make a sale. They share some of the reasons why using your own money shouldn’t be an option. They also describe the people you need to have on your team to make sure you get your numbers right.   “We're in the business of turning money, not flipping houses.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: Selling your properties and getting the money back in the bank. Staging, price points, and other terms when selling a property. The length of time a property should get into the market. Don and Ryan's selling methods and how they go about price points. The lessons Ryan learned from putting refrigerators in his properties. Using hard money and private money and how to compute for costs. Why pre-selling the property is not always a financially sound decision.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 48- Successful Strategies For Selling Your Rehabs

  One of the most common errors real estate entrepreneurs make is the idea of never slowing down and always growing. While that in itself is a great business strategy, there is also such a thing as growing too big, too fast, and in too many places. If not handled properly, scaling too quickly can make you lose your business focus. How exactly do you know when to pause and when to continue? Today, Don and Ryan explain some of the reasons why you shouldn’t always try to chase bigger money. They share some of the lessons they learned when it comes to scaling their businesses and why they sometimes felt the need to slow it down. They also discuss the difficulty in handling “bad apples” in small and big organizations.   “I'm all about having overhead, but I'm also about having data, systems, and processes that back up the team at a high level.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: Sticking to your core competencies and never overlooking the bigger picture. When to branch out and when to just stay on track. How to know if your business is dialed in and what to do when it isn’t. Holding your team accountable to follow the systems and processes in place. What most entrepreneurs lack when it comes to scaling their business.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 47- Keeping Your Eye on the Ball

  Working with people can be one of the most challenging parts of being a boss. Somewhere along the way, you’re going to come to a point where managing your staff becomes a separate business altogether. The worst part is, the longer you remain as a business, the more likely are you to have to sort out and even cut the underperformers. How do you do that with the best interest of everyone involved? Today, Don and Ryan discuss what it means to handle a team that just isn’t performing as expected. They describe their personal experience in having to let go of people and how they did it. They share some of the reasons why you should and shouldn’t let go of an underperforming employee. They also explain the importance of using objective data when it comes to big decisions like removing staff.   “What got us to a certain point isn't going to get us to another level.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: Handling a situation when your team isn't working out. The different types of people who join your organization. Developing people who aren't a good fit in your company. Their experience in dealing with people that don't do their part. Applying the idea of "slow to hire and quick to fire." How a large organization can avoid a "slow death" through proper staff management and evaluations. The power of data and how it influences your business decisions. What it means to hire for where you want to be.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 46- We Get Real About Your Team and Your Numbers

  If you think managing one real estate business is hard enough, imagine managing two. That’s what working with contractors can feel like if you don’t know what you’re doing or if you’re generally unprepared. If you’re not careful, the wrong contractor could trick you with endless changes and revisions in the contract or outright overbid on your projects. How can you prevent these things from happening? Today, Don and Ryan discuss how you should work with contractors. They share their individual working preferences with contractors as well as the associated managing practices. They each explain the pros and cons of hiring in-house and working with third-party contractors. They also offer tips and advice on choosing the right contractor that suits your budget and current projects.   “Never give somebody more than two jobs if you've never worked with them before.” - Don Costa     This Week on FlipTalk’s Rookie PlayBook: Why Ryan chose to hire an in-house construction crew. Why Don prefers general construction crews. How they built their crews and how they manage them. The number of transactions you can do with in-house construction. Deciding which contractor to work with based on your project. The only system and process you need to explain to your contractors. Budgeting your construction costs based on the quality of the work you want.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 45- Working With Contractors Step One

  Real estate investors know the deal is only over once it’s over. Until everyone involved gets their money, the contract is never closed. In this business, closing a deal can be as soon as the house is sold or can take as long as when your next deal starts. Doing this faster means not just trust in your team, but also forming good working relationships with contractors. How do you do both? Today, Don and Ryan explain how to properly manage a deal during its closing phase. They share the various processes they manage in their business as well as their criteria for private money lenders. They discuss how to establish trust in your team as well as the importance of being “hands off.” They also describe some of the benefits of having a good relationship with your contractor as well as some of the long-term drawbacks of having a bad first impression.     “If you're getting in the way and bottlenecking your team, you're doing everybody a disservice.” - Don Costa     This Week on FlipTalk’s Rookie PlayBook: The processes they micromanage when wholesaling and when rehabbing. How they choose who to get private money. When not to use private money. The number of people they employ per location and the number of projects contractors can do at one time. Why you should let your team manage themselves. Why investors are tough to work with relative to those in construction. Establishing good working relationships with your contractors. What change orders are and how contractors can use them against you. Their experience with bad contractors and the lessons they learned.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.  

Week 44 Taking It To The Close

  Establishing a working system is a necessary step in scaling your real estate business. A system can help bring in the kind of deals you truly want. But, how do you know if your system is doing what you set it up to do? What if your system, in the long-term, turned out incapable of producing the results you expected? Today, Don and Ryan discuss how they set up their checks, balances, and exit systems to keep their business operating at the level they require. They explain how their acquisition systems work and their preferences when it comes to properties in the market. They share how they make decisions with properties to buy or sell and their working formula. They also describe how your business becomes more cash intensive the larger it grows.     “We're in the business of turning money.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: Their individual acquisition systems and how they work. The apps they use in making their systems work better and more efficiently. Why Don's team is conservative when it comes to sales projections. Why you still lose money despite accurate projections. The relationship of real estate investors with construction contractors. The people they employ to ensure each transaction is accurate and profitable.     Resources Mentioned:   Asana SLACK           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.  

Week 43- Checks, Balances and Exit Systems

  From an onlooker perspective, a transaction is just the exchange of money for goods. It looks simple enough, but in real estate, this can get more complex than what you expect. If you don’t know what you’re doing, you might not get what you paid for. What happens before, during, and after a transaction? Today, Don and Ryan discuss transactions and some of the systems you can use to get started. They share some samples of sales transactions and the systems they used to make each one simpler. They explain how to find the right system based on your business’ needs. They also explain the systems they built around transactions using escrow.     “No matter how prepared you get by your title company, it's very reactionary. You don't get ahead of anything.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: What it was like to be an investor for the first time and close the first deal. Finding the right work pattern to model your system. Escrow and the systems they built around it. How much control a business owner should have during transactions.               Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 42- Transaction Coordination Systems

  Getting leads is critical to your business’ cash flow, but knowing which properties are profitable is just as important. This is where establishing acquisition systems come into play. You have a team and tools to help manage your acquisitions, but those are just parts of a bigger machine. How do you make sure each section runs smoothly? How do you know what kind of acquisitions systems to use for your business style? Today, Don and Ryan share their wisdom when it comes to building an efficient acquisitions system and successfully implementing it. They discuss the conversion numbers that matter in evaluating your profits and the paperwork involved. They describe some examples of acquisition systems and explain the ones they use. They also share some of their favorite books that helped define the way they manage their business today.     “Realistically you can run a business and take nothing home if you're not managing your business properly.” - Don Costa     This Week on FlipTalk’s Rookie PlayBook: Our latest business updates. Rounding up how much your business actually makes each year. How a business owner should act when it comes to managing their finances. Setting standards for your acquisition requirements. The systems you have to establish for your acquisitions team. What "follow-up" truly means and how to do it properly.     Resources Mentioned:   Never Split the Difference by Chris Voss The Light Switch by James Moore How to Win Friends and Influence People by Dale Carnegie Rich Dad, Poor Dad by Robert Kiyosaki The Dichotomy of Leadership by Jocko Willink Can’t Hurt Me by David Goggins           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 41- Acquisitions Systems

  When you’re starting in real estate, one phone call can be the difference between a five and six-figure annual income. Each call could end up becoming your biggest deal yet which explains why it’s critical to build a proper system around it. How do you know what lead intake system to use? What call service should you have? Today, Don and Ryan discuss why having a lead intake system is essential to a budding real estate investor. They share how they coped before they figured out what system to use in their businesses and the systems they currently use to make their businesses run more effectively and efficiently. They explain the various levels of lead intake systems as well as their corresponding call services. They also share tips on the type of questions new real estate investors should ask during an initial call.     “The goal of lead intake, over everything else, is to build rapport.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: How we ran their business without a proper lead intake system. What you don't want when receiving phone calls. The different levels of lead intake systems and the type of phone services each one offers. The steps we took to elevate our lead management. What a system is supposed to do when it comes to customer service. The questions you should ask during a call.     Resources Mentioned:   Google Voice Skype CallRail Podio           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 40- Lead Intake Sytems

  A successful business of any kind runs on two things: The right people and the right system. You can easily filter qualified assistants and staff, but you can’t say the same when it comes to systems. This is especially true when you’re on the verge of expanding your real estate business. How do you know if a system is a good fit? What do you do after installing one? Today, Don and Ryan explain the importance of not just applying a system in your business, but also knowing its purpose and the end goal of having it in the first place. They describe some of the factors you should consider regarding your systems and how you can maximize it. They also discuss why tracking your marketing can improve your business efficiency as well as increase profits in the long term.     “The point of systems is to get you out of the fulfillment of tasks.” - Ryan Scialabba     This Week on FlipTalk’s Rookie PlayBook: What a system really is and how to identify what works best for your business. Why documentation is a big part of what comprises an effective system. The purpose of unrolling a system. Why applying a system without hiring help amounts to nothing. Tracking your marketing and understanding the market. The type of information you can derive from the tracking data you collect. How we run our marketing campaigns. Why agent outreach can help land you the deals you see online.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 39- Marketing Systems Shared

  Managing a real estate business is probably one of the most stressful career choices a person can make. As a budding entrepreneur, things can feel so more overwhelming you might think about quitting. It happens to everyone - even the most seasoned investors think about closing shop once in a while - but what sets the pros apart is that they persist. How do you push beyond your breaking point? Today, Don and Ryan discuss the importance of stepping away from your business to have more clarity. They explain the difference between a burnout and not having traction and share examples of when they experienced burnouts as well as what they did to pull through. They also discuss what it means to be self-aware in business and how it helps you learn your weak points so you can focus your energy on your zone of genius.     “Sometimes when you step away from the frustration and clear your mind and focus on something else for a while - the answers will come to you.” - Don Costa     This Week on FlipTalk’s Rookie PlayBook: Their current business matters and how their teams are managing all of it. Why they call December "No-cember." The side of real estate business management most people do not realize or appreciate. What being burned out feels like and how you can address it. What it means to be self-aware as business owners. When to recognize you need help in your business.           Rate, Review, Learn and Share   Thanks for tuning into Flip Talk’s Rookie PlayBook 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 the Flip Talk Podcast and 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 Flip Talk fans on Facebook, YouTube, and visit our website for even more content, information, and resources about real estate investing.

Week 38- It's Not Easy and You Have to be Self Aware

  As the year ends, so begins the tallying of the results of your business venture. You quantify the amount of money you made, the money you lost, and the amount of money you had to lose to earn the money you made. When it’s all said and done, what you have with you are numbers. How do you interpret these numbers in preparation for the coming year? How should your business adapt to what you achieved and the goals you didn’t hit? Today, Don and Ryan look over the past year and evaluate their individual business performance as it relates to their plans in 2019. They discuss some of their business’ highlights and lowlights and share some of the reasons behind their successes and failures. They also explain what it means to get more money out of your free time and share tips on how to do just that.     “One of the measures of success is that you don't have to be in your organization for it to run.” Don Costa     This Week on FlipTalk’s Rookie Play Book:   Ryan's and Don's end of the year business results Their reflection on the business strategies they applied in 2018 and what they plan to change for 2019. Their goals for 2020 and how they plan to achieve them. What business leaders should be looking into at week 37. When you should be auditing your time and how.           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 37- Plans and Goals for the Future

  The year’s almost done and at this point, you’ve either reached your quota, are nearing it, or if you’re quite unlucky, nowhere past half. Whether you had a good year or not, the next few weeks should revolve around strategizing and planning for a new year. The best business leaders plan ahead, and young investors such as yourself would only be doing yourselves a favor by following in their footsteps. What should you plan for, exactly? How do you prepare for the next 12 months in just a few weeks? Today, Don and Ryan discuss the critical points in closing this year and preparing for the next. They share some of the goals they want to achieve next year and how they plan to accomplish them. They describe the thought process of business leaders during this time of year as well as how you can review goals with your team or partner. They also provide sound advice on just how high you should set the bar.     “If you're going into a new year without a purpose, you're failing your team.” Don Costa     This Week on FlipTalk’s Rookie Play Book: How Ryan went over the previously discussed issues with his team. What business owners should think about when planning for the new year. Discussing your plans with your partners and your team. Analyzing the previous year's data and adjusting your plans around them. What Don and Ryan want to do for the new year. How to not lose the edge when you are already a successful investor. Their advice on goal setting and why you don't have to set the bar too high.     Resources Mentioned:   Week 34 What’s Their Excuse?           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 36- Planning for a New Year

  Whether they admit it or not, sales people have strong egos. They always think they can close a deal no matter who the clients are. However, this type of confidence can be a problem in a growing business because those with strong egos are difficult to teach and work with. This is why creating your sales team is about team chemistry as much as it is about conversational skills. Today, Don and Ryan discuss how leaders should form their sales team. They share their experience on creating a sales team and what it was like to be part of a sales team early in their careers. They also describe the kind of mindset leaders should have if they want their business to succeed and share their opinions on what you and your team should be open to discussing when it comes to matters concerning setbacks.     “Leadership, influence, communication, and sales - all of those things positively transition to every single part of your life.” Ryan Scialabba     This Week on FlipTalk’s Rookie Play Book: Struggles in forming an efficient sales team. Their experience of being involved in sales. What it takes to build the right team and the people you should look out for. Why the best conversations with your team can be the hardest. Topics business leaders shouldn't be afraid of discussing with their team.     Resources Mentioned:   Never Split The Difference book by Chris Voss Sharper Business Solutions             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 35- Leadership And Your Sales Team

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.