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The Real Estate Pod (2022)
Check out our new podcast, Journey of a Smart Landlord, here: https://podcasts.apple.com/us/podcast/journey-of-a-smart-landlord/id1867851907
Ready to start, scale, and turn a profit with real estate investing? Brought to you by RentRedi, the platform that makes renting easy for landlords and tenants, The Real Estate Pod tackles all sides of real estate investing and provides you with actionable strategies to start, scale, and cashflow your real estate business. Our hosts are here to share with you entrepreneurial mindsets, investing strategies, and how to build long-term wealth. We’ve partnered with successful real estate investors to tackle ALL sides of real estate investing and providing actionable strategies do more! Our 3 hosts have all successfully built their own respective real estate empires, making millions along the way. Tune in every week | Tuesdays - Women of Real Estate: Spotlighting women who are crushing it, real estate coach and investor Stacy Rossetti hosts conversations with women from across the country to talk strategy. | Wednesdays - The Business of Real Estate Investing: Interested in the entrepreneurship of investing? Each week, real estate experts Glenn & Amber Schworm talk about economics, Airbnb-ing, and basic entrepreneurship. | Thursdays - Real Estate Investing for Rookies: Ever wondered how to start investing or how to build a team? Real estate coach and investor Stacy Rossetti shares the how-tos for rookie investors. | Fridays - Building Long-Term Wealth in Real Estate: Building wealth through real estate is achievable. Author, investor, and real estate agent Craig Curelop will discuss effective strategies to build long-term wealth. Subscribe & turn on notifications to be sure you’re notified when each episode drops!
The Real Estate Pod (2022)
Using the 70% Rule for Investing? Here's Why You Shouldn't
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In today's video, Laura discusses the 70% rule and how it's WRONG!?
Are you using the 70? Why or why not?
According to Laura, the rule you should use is making at least $10,000 profit on a deal. At the end of the day, when you're wholesaling, you want to sell the property and make at least $10,000 in profit. So the percentage will be different for every deal.
For fix and flip, you want to make a 10-15% profit of the repair value. To find this number, subtract all the costs for repair and flipping, and then you have the offer value.
For buy and hold, Laura's goal is to get $200-100 per door—depending on the type of rental. Monthly rental income will be subtracting the expenses - profit = how to calculate the most she will pay!
Tune in to this expert run numbers & help you maximize your profit!