I’m all about showing you guys the best ways to automate and delegate your business. If you’ve listened to the show before, you’ve heard me talk about these things in great detail.
But today, we’re going to go back to the basics. Sometimes, we tend to overcomplicate things when it comes to our real estate investing. I’m guilty of it too. It’s easy to think that we need to have all the fancy software, and all the latest and greatest tools, and then we forget about the fundamentals. Overcomplicating things muddies up the waters and makes things worse, not better.
That’s why I’m going to show you how to evaluate a lease option deal the old-fashioned way: with a pen and paper. I used to run my entire business this way. Manila folders and sticky notes ruled the day! And when I was only doing a few deals here and there, this worked out just fine. It was once my business really started to scale up that I learned the value of good software to help keep things organized.
But the CRM software only helps automate what you were already doing, and that’s why it’s so important to really understand where the numbers are coming from. That’s why I’ve broken out the pen and paper, and I’ll show you exactly how to evaluate a lease option, come up with rent numbers, and calculate your profit.
For more information on how to do lease options, go check out my webinar at SLOclass.com.
Watch and Learn:
Listen and learn:
- The fundamentals are key to investing.
- How to calculate rent, ARV, and sale price by hand.
- How to estimate repair costs based on the condition of the property.
- “…Can we do business today?”
Mentioned in this episode:
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