Our guest today is Don Costa. And, we’ve also got my buddy and business partner Alex Joungblood, too.
Today we’re talking about fixing and flipping. We’re going to learn why Alex and Don are still doing that instead of my bread and butter – wholesaling. I personally hate rehabbing. That’s why I’m going to pick Don’s brain about it today.
Don does about 100 rehabs a year. He lives in Fresno and most deals he does are there or within a 45-minute radius. The business he’s talking about today is his post-crash-of-2008 business. He had so many irons in the fire in 2008 and was stretched so thin, he lost everything.
Don now knows that he didn’t have the systems in place that he needed back then. When he restarted his business, he stuck with what he knew… fixing and flipping, but this time he has well-thought-out systems in place.
His advice on systems: Build in expectations and accountability for your staff and transparency for lenders.
Don has an office with a staff of 5 including an admin, 2 project managers and 2 acquisition guys. He also has a sister real estate company with 7 agents. And, he started his own podcast about a year ago.
Lots of good info here.
Listen and enjoy:
- Building and developing your team
- Why your first hire should be a person to do tasks you’re not that great at
- Why you must always be marketing
- How half of Don’s deals come from networking
- Why he often buys from wholesalers
- How and why his capital outlay is all from private lenders
- Knowing that real estate investors bring value to the table
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Joe’s Coaching Program: Joe McCall Coaching
- Podcast Hotline: 636.255.8815
- Don’s podcast: Flip Talk
- Don’s Workshops: Next Level Immersion
- Email Don: Don@FlipTalk.com
- Don’s Facebook Group
What are you thinking?
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