3. A NALYZE EVERY DEAL Whether you use spreadsheets from a mentor, software programs, or real estate contacts, analyze every deal, every time. It’s important to know the numbers and the projections. No matter how good a deal looks, if the numbers don’t work, you must be willing to walk away. Good analysis will help you manage your expectations. Nothing will kill morale and maybe even your business as quickly as a bad deal. You know the effort it takes to get a place rehabbed and ready to sell or rent out. After all your efforts, if you can’t get the price or the rents you need to
make it work, you’ve put yourself in a bad spot. Good analysis in the early stages can make all the difference. The purpose of software companies like Housefolios is to make that work easy. Analyze deals in seconds, get immediate feedback on how much potential a deal has, run comps to see what your resale opportunities are, and simply get a good picture of what needs to happen to make a deal work. Finding a good deal can be hard, but not nearly as hard as trying to breathe life into a deal you didn’t analyze properly. In the end, invest in your own success. Following these few simple
guidelines will make your life easier, make your business grow faster, and give you peace of mind during the process. Plan it, study it, and know your numbers. The rest will fall in line. •
Rob Fuller has been investing in real estate for more than 10 years. In 2015, he formed ROI Property Group, LLC, a California-based LLC that develops,
builds ground up, and runs a fix-and-flip operation. The company’s strategic approach includes analysis, technology, acquisitions, and field operations. Fuller is also the CEO of Housefolios, a prop-tech company based in Provo, Utah, designed to help Fuller run his real estate business. It has expanded for use by other real estate professionals to organize and add value to their business.
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