Flip Talk Rookie Playbook

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

Can't Hurt Me: Master Your Mind and Defy the Odds

Never Split the Difference: Negotiating As If Your Life Depended On It

The Dichotomy Of Leadership: Balancing The Challenges Of Extreme Ownership To Lead And Win

Rich Dad Poor Dad (What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!)

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

Your business is only as good as the team you form around it. So, when bad things happen, the market is the last thing you should blame as a business leader. Not everything goes smoothly in business, and many say failures are stepping stones to success. Shortcomings because of avoidable human errors, on the other hand, are the kind of stones you don’t want to step on.

Today, Don and Ryan discuss what it means to inspire your team to be better versions of themselves. They explain the importance of communicating your intent to improve them through mechanical criticism. They also share their experience when one of their team members fall short of what is required and how they helped them get back up.

"We're all trying to get ourselves up to the next level." - Ryan

Scialabba

This Week on FlipTalk’s Rookie Play Book:

Ryan's conversation with his team and the issue they're facing.
What separates entrepreneurs from the typical employee.
The problems businesses encounter with their marketing strategy.
What it means to critique your team mechanically.
Don's experience in critiquing his team to promote a higher level of thinking.
When the leader should and shouldn't take responsibility for errors.
The effort they exert in closing deals and the habits they promote.

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

The best way to sustain your business is to become the top-of-mind company to potential leads. It means you have to be always relevant, and to be relevant is to actively pitch your business to sellers and buyers alike. This is where an efficient and well-calculated marketing strategy comes in.

Today, Don and Ryan share some of their business goals for the coming year and why they’re putting a lot of emphasis on efficient marketing strategies. They describe their personal preferences regarding sales processes and which method nets the most leads. They also explain some of the critical metrics you have to consider when planning your marketing strategy as well as how you can go about managing each one.

“Your marketing process converts leads from a call to a client to a sale.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

How to use your network to leverage the right private money.
Why real estate for 2019 starts in November.
What you need to ask yourself as a business owner entering the new year.
Goal setting and knowing the right metrics for marketing.
How to make your company predictable in your marketing.
Is a one percent response rate good enough for your marketing?

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

The market may seem to be brighter every day, but we all know this uptrend won’t last forever. As investors, we must not only put money on assets but also make sure we protect them. You have to establish an adequate cash flow so you won’t end up with negative returns during a short or even long-term crash.

Today, Don and Ryan explain what it means to have high-level cashflow control. They share examples of numbers you always need to keep in mind and share the strategies they used to adjust to the market today. They also describe what it truly means to have true wealth and what it takes to get it as well as comment on the current market trend and share ideas on where it will go from here.

“Cash flow, in any business, is the blood that makes your heart pump.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

Why it's fine to not be missed by your team.
Knowing what to fix in your business so it can scale.
Their predictions in what will happen to the market in the next few months.
How they adjusted their business strategies to the current market.
The three stages of real estate investment and their time frames.
How Mid-term Elections can affect the real estate industry.
Why having your own capital tied to deals is a double-edged sword.
Tips on maintaining a healthy cashflow.

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

The higher you go in business, the harder it is to keep track of its growth. That’s a fact for any type of business, even in real estate. Crunching numbers in deals is one thing, but to deep dive into numbers of your own company is a whole other matter. If you don’t know what you’re doing, things can go south pretty fast.

Today, Don and Ryan discuss the importance of not just having data but having a ton of it. They explain how accumulated data can help steer your business in the right direction and how the same data can be used to set new goals. They also suggest some of the critical types of data you and your team must keep tabs on at all times and share tips on how you can gather individual data from separate marketing campaigns.

“You need to know more than 15 key numbers in your business to really see its health at any given time.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What you need to know when buying and selling properties.
Tips on how you can track the numbers that matter.
The metrics that matter at this stage of your business.
The results of tracking numbers carefully and how you can use them with your marketing.
Their perspective on what it takes to build a team.
What's in store for the Rookie Playbook in the future?

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

The term “real estate business owner,” is heavily associated with being rich and owning a lot of luxury cars. The media, particularly social media, has a way of exclusively showing the perks of being a successful real estate investor, but what a lot of people don’t realize is there are a lot of uglies happening behind the scenes. It’s not always rainbows and butterflies, as the song goes, and it’s no different in this industry.

Today, Don and Ryan discuss some of the worst things that could be said about this industry from the perspective of a business owner. They share their recent setbacks, how they happened, why they happened, and how they resolved them. They also explain why these setbacks are normal and how investors should confront them.

“It's not systemizing the business that's challenging. It's the controlling the human variable the system depends on.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

Discussing the ugly side to real estate investing.
What they really hate about the property business.
The worst days in their entire careers.
The reason why Don went to court today and how it was resolved.
Why you should be happy with some of the problems you deal with.

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

Growing your business involves a lot of human resources and even more working hours. The initial growth will make you feel proud and excited at what you’ve accomplished. However, there will be times where you encounter a plateau and meet stagnation. What should you do to overcome and break past this state of your business?

Today, Don and Ryan discuss what is needed to continue growing in a market where every company wants to expand. They share the importance of learning multiple ways to make money from a deal without losing sight of the core of the business. They describe some of their recent challenges and how they solved them. They also explain the importance of always having the drive to learn - no matter how far you are in this industry.

“There are a million ways to make a million bucks; you just need to pick one and stick with it.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

Why being good on one facet of real estate is critical for long-term success.
What it means to build stability in the market.
Why monetizing every lead isn't always ideal for business growth.
Some of the challenges they have recently faced and how they are overcoming them.
The importance of developing a mindset that keeps you motivated to learn.

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.

View Details

Part of the role of an acquisitions manager is to have the patience and wisdom of a researcher and the charisma and confidence of a negotiator. Their tasks mainly revolve around fieldwork, settling, and elections to purchase short and long-term lease agreements that meet your business’ goals. Suffice to say, hiring the right acquisitions manager is critical to making sure each contract signed will translate to your company’s earnings.

Today, Don introduces his Acquisitions Manager, Ruben, to answer a few questions from our fans on Facebook. Ruben shares his professional background, how he began working as an acquisitions manager, and some of the projects he’s collaborated on so far. He explains how to prepare for an appointment with a new lead and shares key tools and equipment an acquisitions manager should always have access to. He also describes the importance of not just establishing a relationship with the client, but to also make sure you don’t let the momentum grow cold.

“You can't control a lot of things, but what you can control is how you go into that appointment, how you react, and how you raise questions.” - Ruben

This Week on FlipTalk’s Rookie Play Book:

How to prepare for an appointment.
What is the After Repair Value and why is it important?
The tools and equipment to bring for an appointment.
The importance of establishing rapport and doing a follow-up as soon as possible.
What to do with the appointment if you don't get the contract.
His advice for new acquisitions managers.

Resources Mentioned:

Never Split The Difference book by Chris Voss
Start with No book by Jim Camp
John Martinez

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.

Start with NO...The Negotiating Tools that the Pros Don't Want You to Know

View Details

You can invest a lot of money in getting educated and learning from real estate experts, but it will all be for nothing if you don’t take action. Overthinking the risks and methods involved in this type of business will get you nowhere. Sometimes the only advice you need is the advice that makes you walk out that door and get started.

Today, Don and Ryan describe the challenges of employing people who look capable on the surface, only to be exposed when pressured and how having quality communications can impact your company’s performance. They also explain how veteran entrepreneurs can make decisions faster than their newer counterparts and express their opinions on building your reputation and how you can prevent it from being ruined.

“A bad result is better than no result. At least you know you got a result.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

How quality communication improves business performance.
Our experience with members who can't keep up with the business.
How to get over the fears of hiring and firing an employee.
The difference between new entrepreneurs and entrepreneurs running multi-million-dollar businesses.
How you can protect your reputation from the mistakes you make.
The importance of taking action - even if it ends in failure.

Key Takeaways:

It takes five minutes to ruin your reputation if you've done a lot of shady things along the way.

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.

View Details

You can market your business without scaling, but you can’t scale a business without marketing. Marketing is responsible for getting your business leads, referrals, and closed deals. This is why a properly executed marketing strategy is imperative when it comes to expanding your real estate business.

Today, Don and Ryan discuss some of their best-kept marketing secrets and how they led to successfully scaling their businesses. They share the marketing strategies they used, the ones that failed, and which strategies they found most successful. They also explain the importance of learning how a marketing strategy works before trying it and describe what it means to know your customers and how it dictates your business model.

“Marketing comes down to understanding what you're doing and why.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

Why Ryan walked away from pay-per-click marketing.
Why demographics are important in marketing your real estate business.
How to determine the right business model.
When is PPC not the best marketing strategy?
The importance of trying different ways to market your business.
How long it should take to establish a marketing strategy.

Key Takeaways:

Don't trust the people making a commission off of you.
Try different marketing strategies and understand why some work and why some don't.

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.

View Details

Growing a real estate business is a lot like growing plants: A small plant doesn’t need much to grow, but its demands rise exponentially the bigger it gets. This is why a lot of businesses can have a big growth spurt but end up being forced to scale back down because the growth was not sustainable. Scaling up may be expensive but being forced to scale down is costly.

Today, Don and Ryan share their secrets for achieving real growth in their real estate organizations and the strategies they use to expand their businesses. They share their insights into what any business owner needs to have to scale successfully as well as the type of challenges they have to be prepared for. They also discuss the different departments your business needs, the kind of spreadsheets you should be using, and how to determine how much one deal can cost you.

“Every dollar you invest matters, whether it's going to be in marketing or hiring personnel.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The five departments your business needs to focus on to achieve sustainable growth.
Why phone calls need to be answered live, no matter what.
Why Excel works for businesses in transition.
The numbers you need to know so you can scale successfully.
Examples of how costs are broken down for leads, calls, and contracts.
The differences and similarities between veteran and new real estate investors in the industry.
Why learning how to run a real estate business is a lot like sports.

Key Takeaways:

Everybody sitting on the fence waiting for a perfect moment is getting passed every single day by people willing to trust themselves and take risks.
If you're not tracking things, you could be aimlessly throwing dollars down the drain.

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.

View Details

Whether you’re just starting your business or you’ve been in the real estate game for years, every entrepreneur faces struggles, obstacles, and unexpected setbacks. Sometimes these challenges are due to making mistakes, and sometimes, they creep up due to mindset challenges or feeling like you need to perfect a system or process before implementing it.

On today’s episode, Don and Ryan share the challenges they have faced while starting and scaling their real estate investing businesses. They discuss why hiring help is often one of the hardest transitions for many new entrepreneurs, what systems are and how they enable you to free up your time and streamline your business, and the importance of being comfortable with reinvesting your profits back into your business to continue to grow and scale. They also discuss why it’s more important to take imperfect action instead of striving for perfection.

“A system is a boundary. You’re just setting a rule.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

Challenges we faced while starting our real estate investing businesses.
The importance of being comfortable with reinvesting your profits back into the business when you’re first getting started.
The importance of learning how to manage your capital and cash flow.
The benefits of creating a cash flow projection sheet.
The importance of finding lenders that will lend 100% of the rehab cost, holding cost, and purchase cost.
Overcoming challenges associated with scaling your business.
How using one communication tool across your entire team can help streamline systems and processes.
The importance of taking imperfect action instead of waiting for perfection.
Tracking metrics and making mistakes in your marketing strategy.

Key Takeaways:

Take imperfect action.
Put systems in place to free yourself and scale your business.
Your “skin in the game” is your ability to run a solid, strong business.

Resources:

Slack

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.

View Details

The role of an acquisitions representative in a real estate company is simple: find as many deals as possible, analyze each one, and close most if not all of them. They’re also responsible for market research as well as preparing and presenting investment proposals. However, the complexities of the job revolve around networking and establishing rapport, two soft skills that not many people have mastered.

On today’s episode, Oscar - Don’s Acquisitions Rep - joins us to share his experience in the last month that he has worked in acquisitions. He describes his primary responsibilities in the company, what it was like to apply for this position, and the lessons he has learned since accepting the position. He also explains the importance of establishing rapport when it comes to closing contracts.

“When you’re building rapport with others, you’re also building rapport with yourself in the situation.” - Ryan Scialabba

This Week on FlipTalk’s Rookie PlayBook:

What made Oscar want to work in acquisitions?
The strategies he learned that were key for his position.
What an acquisitions person should do to increase their volume.
How you should build a team when it comes to contracts.
How important is company culture and loyalty?

Key Takeaways:

When you're building a team, make sure you're building them for success.
The more rapport you build with someone, the easier it is to throw an offer.
It’s really important to have someone to chase and someone to teach.

Resources Mentioned:

Driving For Dollars
The Light Switch book

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.

View Details

One of the most important team members is the Transactions Coordinator, a position that includes a wide range of responsibilities that revolve around contracts. Some of the duties of a Transactions Coordinators include overseeing every aspect of buyer and seller transactions from purchase to closing, coordinate escrow, appraisal procedures, mortgage loans, and regularly updating and maintaining communications with agents, title officers, lenders, and clients.

On today’s episode, Don’s Transactions Coordinator Kass joins us to share her experience regarding what a Transaction Coordinator is and why they are critical to your business. She describes her responsibilities and how she manages her duties on a given day. She explains her methods in making sure the work doesn’t pile up on her desk as well as provide tips for those looking to hire a Transactions Coordinator.

“You can't have people on the other end that just want to create drama out of everyday tasks and items.” - Ryan Scialabba

This Week on FlipTalk’s Rookie PlayBook:

What to look for in a Transaction Coordinator.
Why a Transaction Coordinator cannot be a pushover.
Challenges Transaction Coordinators face on a daily basis.
How important is it to have an Escrow Officer?
What does Kass do well that makes her work manageable?
How does the company make her job easier?
The challenges of growing a company from her perspective.

Key Takeaways:

At the end of the day, there are companies that are not on the same goal as everyone else in a deal.
There's a lot involved in one real estate deal, so it can be difficult to get everybody on the same page in that time frame.
In hiring, give people a chance, as long as there are no glaring red flags.

Resources Mentioned:

Slack

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.

View Details

If you’ve been thinking about starting your journey into real estate wholesaling, one of the first positions you’ve likely considered filling is a dispositions representative. Someone who can create buyer’s lists, work with your acquisitions team, and keep wholesale business rolling smoothly and seamlessly. But, finding a strong dispositions rep can be a tricky task if you’re not sure who would enjoy and excel at the position.

On today’s episode, Don’s dispositions rep, Justin joins us on the show to discuss what it’s like to work in dispositions. We discuss the key qualities and personality traits you should look for to ensure who you hire to fill the position is a good fit for the role, the roles and responsibilities of a dispositions rep, and the criteria that a property should meet to determine if it’s appropriate to wholesale or rehab the property. We also discuss the common fears that many property flippers face when branching into real estate wholesaling and why it’s critical that your dispositions rep understands the buyer’s criteria when negotiating deals.

“When you’re looking at wholesale and your dispositions guy, you don’t want somebody who is timid.” - Don Costa

This Week on FlipTalk’s Rookie PlayBook:

The importance of having a dispositions rep as a real estate wholesaler.
Key qualities and personality traits that make a great dispositions rep.
The difference between an acquisitions role and a dispositions role.
Common fears regarding wholesaling consistently.
The criteria they look for when determining whether to flip a property or wholesale it.
How wholesaling can open new doors of opportunity for real estate rehabbers.
The roles and responsibilities of a dispositions rep.
The importance of a dispositions rep understanding the buyer’s criteria.
How to build a buyer’s list.
How to identify who your competition is selling to.
The importance of providing an asking price when negotiating wholesale deals.
What information you should provide to a wholesale buyer.

Key Takeaways:

Do the work.
Find an aggressive dispositions rep.
Understand your buyer’s criteria.

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.

View Details

Filling positions for your business takes a lot of time and resources, but with enough effort and smart decision making, you could end up hiring the right candidate that can take your business to new heights. One of the most important positions is acquisitions. A great acquisitions manager can significantly impact the growth of your business.

Today, Don and Ryan discuss how they hired their first acquisitions person. They share the strategies they used to filtered potential candidates, what they suggest small companies should look for in this role and explain why they see this position as critical to the success of the business. They also provide tips on how to utilize the acquisitions person to their full extent.

Financially, acquisitions is one of the first positions you want to get off your plate.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

Their experience in hiring their first acquisitions person.
What makes a good acquisitions person?
Why attention to detail is critical in this type of business.
The secret in hiring the perfect acquisitions manager.
Why you should scale your marketing before hiring an acquisitions manager.
What to do if you don't have leads for your acquisitions person?

Resources Mentioned:

Fire Yourself! book by John Rusciano and Lisa Brezonik

Key Takeaways:

Acquisitions is a critical position to fill, so make sure you only pick those who share the same passion as you.

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.

Fire Yourself!: Reignite Your Career and Live Your Life with Intention

View Details

Expanding any business requires a lot of capital, willpower, and people. Depending on how big or fast you want to scale, you can end up hiring more than a handful of experts who will help you grow your business. Hiring isn’t as simple as it seems, though, and there are a lot of factors to consider to make sure who you get for a specific position fits just right.

Today, Don and Ryan discuss what you what you need to know when building a team and hiring for the first time. They share their experiences when they hired assistants and managers for the first time, the errors they made, and what they did to rectify the problems they encountered. They also explain why experience is not always critical for new businesses.

“You don't have to hire somebody who is experienced. Sometimes when you're a newer business that's the worst thing you can do.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

Who their first hire was and why they needed to hire.
Why experience is not always a necessity in a new company.
What they learned from their first hire.
Tips on how to know who to hire first.
What to know before hiring for the first time.

Key Takeaways:

You can make any role efficient and not that expensive if you can do more tasks yourself.
The first hire can work out in some ways and not work out in other ways.
There's a commitment when it comes to hiring. Not only financially, but also mentally.

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.

View Details

Marketing and advertising play critical roles in the success and longevity of your real estate business. There are many options and strategies you can use to begin promoting your business, finding leads, and acquire new deals to get your business started on the right track. However, this often leads many new real estate investors, flippers, and wholesalers to use the “shotgun marketing” approach - which can eventually lead to failure.

On today’s episode, Don and Ryan discuss why new real estate investors should focus on one marketing strategy at a time instead of taking a shotgun approach. They share some of the most common marketing strategies used throughout the industry as well as several that industry leaders often overlook. They also discuss the importance of maximizing your time and money when considering which marketing channel to use in your business and various strategies they used when they were just getting started.

“When you have a smaller marketing budget and you spread it among several things, you’re really just throwing your money away.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

Free and low-cost marketing techniques.
The importance of blocking time in your schedule to devote to marketing.
How attending and speaking at networking events can help you grow your business.
Investing in Pay-Per-Click advertising.
Using direct cold calls to find new deals.
Incorporating direct mail marketing
Advertising your business in newspapers, tv, and radio.
How to be successful with cold call marketing, direct mail marketing, and Pay-Per-Click marketing strategies.
Lessons we have learned regarding Pay-Per-Click advertising.
Creating marketing materials that help you stand out.
Evaluating your cost-per-buy metrics.
Why new real estate investors should focus on one paid marketing channel at a time.
How being consistent impacts your marketing strategy’s success.
Why you should test your direct mailing lists.
Identifying what marketing strategies work, what doesn’t, and doubling down on what does.
How to build your list organically.
Marketing strategies we used as new investors.

Key Takeaways:

Start with one marketing channel at a time.
Learn what works - and what doesn’t. Double down on what works.
As you master one marketing channel, you can slowly begin adding other avenues to your strategy.
You don’t have to have a big budget to get started, but you have to be committed.

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.

View Details

A lot of new real estate investors tend to get distracted with the “shiny object syndrome” - the thought that they need to continually recreate the wheel or try something new before they’ve mastered the foundational skills. Many new investors fail to realize that the majority of building a successful real estate career relies on their ability to continually repeat the simple, yet powerful fundamental process that enabled them to achieve success with their first deal.

On today’s episode, Don and Ryan explain why it’s critical to follow the “Rinse and Repeat” model of building your real estate business. They discuss the importance of finding the right people to add to your team, evaluating and reverse engineering the process you used to successfully close your first deal, and the importance of finding constants and removing barriers as you continue to build your real estate empire. They also share stories of how they’ve worked through various unexpected title issues throughout their career and tips for new investors trying to navigate their way through issues with property titles.

“The process is never going to change.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The importance of evaluating your process as a whole.
The four core parts of running a successful real estate business.
Removing barriers and finding constants.
The importance of picking your title attorney.
The importance of identifying the end result you want to achieve when building systems and processes in your business.
Reverse engineering your processes to remove variables.
Digging deeper into the markets you want to explore.
Working through title issues and the importance of asking questions and being curious through these issues.
The importance of auditing your time.

Key Takeaways:

Don’t fall prey to “shiny object syndrome.” Rinse and repeat the foundational process.
Realize that deals blow up multiple times during the closing process. Don’t freak out.
Understand that who is on your team truly matters. Put problem-solvers on your team.

Resources:

Foremost Insurance Group
Farmers Insurance
American Modern

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.

View Details

By week 16 in your real estate investing business, you have already learned much of the basics of running your business. Finding properties, negotiating deals, renovating homes, hiring a team, and marketing your products for the best possible return on investment are a few of the things you should have already began doing. By now, it often means that everything that comes next in your business is simply a matter of “rinse and repeat” Start from scratch and continue to build your team, grow your efforts, network, and market.

Week 16 is also often the time when self-doubt begins to settle in for many new property investors. Today, Don shares why it’s critically important to get your mind right as you continue to build your business. He shares how he handles negative thoughts, self-doubt, and why he believes that having confidence and believing in yourself is a key fundamental of starting your business and taking it to the next level. He also shares the primary difference between highly successful real estate investors and beginners, how honing your sense of value and self-worth can help you operate at a higher level, and why continuing to network and meet new people is critical to the longevity of your real estate business.

“You are all fully and completely capable of making your dreams come true.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

How sticking to the fundamentals can help you achieve success.
The importance of learning your numbers.
Why believing in yourself is critical to your success.
The primary difference between highly successful real estate investors and new investors.
How honing your sense of value and instinct helps you operate at a higher level.
The importance of networking.
What is wholetaling and how you can use it as an exit strategy.

Key Takeaways:

This business isn’t hard. The fundamentals are easy. Stick to the fundamentals.
A lot of what keeps someone who is newer from taking action is that confidence in themselves - that belief.
The only thing that separates those from success and failure in this business is quitting.

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.

View Details

As your journey of starting a real estate investing and rehabilitation business continues to unfold, you have likely realized there are many moving parts associated with getting your business off to a great start, landing your first real estate deal, and working your way toward success. At the end of your first quarter, you should already have at least one real estate deal under your belt and should be ready to develop a plan of action on how you want to earn a profit from that deal.

On today’s episode, Don and Ryan recap where your real estate investing business should be at the end of Quarter 1 as well as provide a basic understanding of what you can expect in Quarters 2, 3, and 4. They also share the topics they will discuss in future episodes that will help you get a better understanding of how to run and operate your business and create systems and processes that will support the growth of your company.

“Honing in on your craft can really be the make or break point to getting your first deal or leveling up in your business.” - Ryan Scialabba

What’s Next on FlipTalk’s Rookie Play Book:

Building your wholesale buyers list.
Marketing strategies you can use to attract contractors for your real estate rehabilitation project.
Avoiding mistakes during construction and rehabilitation projects.
Systems and strategies for achieving the maximum profit possible.
Basic hiring and team building strategies
What to expect during Quarters 3 and 4.
Putting systems and processes in place that work best for your real estate business.

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.

View Details

Hiring and managing contractors is often one of the most challenging aspects of owning a real estate rehabilitation company. There are many moving parts and things to consider when finding and hiring the right contractors to work on your rehab project. Understanding where to find good contractors as well as how to properly vet and train them is critical to building a successful real estate business.

Today, Don and Ryan discuss how working with the right contractors can impact the success of your real estate business. They explain how your local market can impact the cost of property repairs and how to use inspection periods to properly vet contractors and make better buying decisions. They also share strategies on finding good contractors to work with, the characteristics of a good, trustworthy contractor, and the benefits of working with and training newer contractors instead of veterans.

“Once you find a good contractor, it changes your business forever. You become unstoppable as a flipper.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

How to identify the level of renovation you need to accomplish on your rehab project.
The importance of basing your offers on the most conservative number within your estimate range.
How to train property acquisition managers.
The benefits of taking photos and video during the initial walkthrough of a property renovation project.
What to consider when estimating repairs.
The importance of knowing the numbers in your market.
How your local market can impact the cost of property repairs.
How to develop a standardized price list for repair costs in your market.
Using inspection periods to make better property buying decisions.
Characteristics of a good contractor.
How to assess contractors.
How to set your contractors up for success.
How to avoid contractor burnout.
Where to find contractors to work with.
The benefits of working with newer contractors.
Navigating the bidding process.
How line item bids help avoid misunderstandings and instances of miscommunication.
Dealing with pushback from contractors

Resources Mentioned:

National Standard for Property Repairs Sheet
Our 4-Page Bidding Process

Key Takeaways:

Make it a point to know your numbers in your market.
Hire the person first, then the skillset.
Ask for references from other investors for good sub-contractors.
Realize your resources are all around you - you just have to be resourceful.
Don’t be afraid to assert your system and process on your contractors

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.

View Details

When you’re just starting your real estate investing journey, one of the most critical factors you should consider is how you plan to finance your projects. Deciding whether to use hard money lenders or JV partnerships to raise private money to fund your projects is often one of the most challenging decisions you will need to make.

On today’s episode, Don and Ryan share how they raised money to fund their first projects and the lessons they have learned from these experiences. They share strategies to consider when determining which fund-raising method is right for your business, the difference between using hard money lenders and JV partnerships as well as the benefits associated with each strategy. They also explain the importance of building a reputation based on trust and how it impacts your ability to raise private capitol.

“The property is the collateral - you are the security.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

Strategies for raising private money.
How being trustworthy impacts your ability to raise private money.
Working with hard money lenders.
The benefits of working with local hard money lenders.
Funding your real estate projects with JV partnerships.
The benefits of JV partnerships.
How branding impacts your ability to grow your business.
How your mindset impacts your ability to raise private capitol.
What is a “Credibility Packet” and what should be included?
The pros and cons of using a Credibility Packet.
Secured versus unsecured borrowing.
Best practices for raising private money.

Key Takeaways:

Your ability to raise private money is directly related to how well you get people to trust you.
If hard money lenders are lending in your market, they know what’s going to work and what’s not going to work.
Raising money comes down to salesmanship and confidence.
Do what you feel is comfortable.
Don’t get hung up on having a Credibility Pack.

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.

View Details

When you have a working contract, the next step is finding the right buyers. This may come as a bit of a challenge for a new real estate investor, as the market is hot right now and everyone wants to buy something. However, just because people want to buy doesn’t mean you should just wholesale the contract to the first interested prospect.

Today, Don and Ryan describe the steps new investors need to take when it comes to wholesaling a real estate contract. They discuss the importance of getting to know the new faces in the market, how your established connections can help you find a good buyer, and why there are cash buyers who aren’t really what they seem. They also share their personal experiences when wholesaling contracts as well as provide tips on how to avoid being sued.

“Be good and be righteous to people and you're never going to have problems.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The importance of asking about new lenders or buyers in the market.
Tips on building a buyer's list on a budget.
How do you approach cash buyers with the property?
Their personal experience regarding cash buyer relationships.
The relationships you shouldn't involve yourself in.
What to do during a lawsuit.
How to prevent buyers from pushing you around.

Key Takeaways:

Don't stop marketing the contract.
Local hard money lenders should always be your priority.
Learn to vet the cash buyers you encounter.
You should have relationships in the different places you're marketing to.

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.

View Details

After dedicating several weeks of your time and energy into finding your first deal, there’s no better feeling than getting your first contract. Your first deal is the start - the first milestone - of what you are capable of achieving in the real estate investing industry. As exciting as it can be, however, getting the contract signed is only the first step toward moving your project forward.

On today’s episode, Don and Ryan discuss what you need to know after closing your first deal and the steps you need to take immediately after receiving the contract. They discuss the importance of setting realistic goals and expectations, evaluating your current financial situation, as well as the options you have available for finding a buyer for your first property. They also explain what a Daisy Chain is, why many investors do not recommend new investors using them and share their personal stories on what their first deals were like and the lessons they have learned from closing those deals.

“There are highs and lows in the real estate game, but there are no highs better than getting that contract.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

How your first contract impacts the proof of concept for your real estate business.
The importance of staying determined despite other people’s opinions.
The importance of setting realistic goals and expectations.
Strategies to consider after receiving your first real estate contract.
Challenges associated with transitioning from dealing with cashflow properties to rehabilitation and wholesale properties.
The impact that your current financial situation can have on your first property deal decisions.
Steps to take immediately after receiving your first contract.
Using other people’s marketing to your advantage.
The importance of building your buyers list.
Tips for working with wholesalers.
What is a Daisy Chain?
The disadvantages associated with using Daisy Chains to promote your property.
The difference between Daisy Chains and co-wholesaling.

Resources:

Craigslist
Google
Investor Meetings
Title Companies

Key Takeaways:

Evaluate your current financial situation to help you make strong decisions for your first property deal.
Remember: You do not need a huge buyers list to be a successful real estate investor.
Don’t get tempted by Daisy Chains.
Be empathetic. Always do the right thing.

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.

View Details

The contract is what incorporates all the time and effort you have exerted in finding a good deal as well as the result of your people skills. It wasn’t easy, and it never will be, but finding a deal that leads to a contract will eventually become routine. However, before you open your computer and begin creating a contract, there are certain things you need to know to create a contract suitable for your business model.

Today, Don and Ryan share their wisdom on how to create a good contract. They explain the importance of keeping it as simple as possible, why you should have an exit strategy and the reason why you should always properly disclose details to sellers. They also discuss what it means to have a financing contingency as well as what it takes to have lenders give you money.

“The biggest thing is to buy these deals deep enough so that you have options.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The two contracts you will always use in your career.
What makes a great contract?
When should you consider putting a financing contingency in place?
The importance of establishing the right exit strategy.
Why you can always make a mistake even with experience.
The benefits of disclosing everything to sellers.
The three things you need to make a binding contract.
How long should you mull over a contract?

Key Takeaways:

If you have a deal, hard money lenders will never tell you no.
Don't overthink the contract; just make sure it's a contract you can read and understand.
Don't be afraid to make an offer and get it into a contract.

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

RPB009 Making The Offer

There are three types of rookie investors: the one too scared to make an offer, the one who thinks they screwed up, and the one who feels like they rocked it. Regardless of what category you fall under, you all go through the same methods and strategies in structuring an offer. The only difference between successful and failed offers are the execution and the details, and this is a pretty steep mountain to climb.

Today, Don and Ryan discuss the do’s and don’ts of structuring offers. They explain the importance of understanding the seller, why rapport is critical, and why you should never give any number over the phone. They share their mistakes and how they managed to learn from them as well as how they used those mistakes to lead their team.

“Making no offers is wasting time because you'd never know what someone's gonna take.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

How to structure the offer.
Why getting a number is critical before giving an offer.
The questions you should ask to get a number from the seller.
What not to do when making offers.
The importance of establishing rapport.
Why it's okay to sometimes lose deals.

Key Takeaways:

Be the most likeable person, build the most rapport, and explain the terms better than anybody else.
At the end of the day, the number is the number. You have to be willing to walk away with what you’ve got.
If they don't give you a number, they're not ready to sell yet.

Resources Mentioned:

The Like Switch book by Jack Schafer

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

The Like Switch: An Ex-FBI Agent's Guide to Influencing, Attracting, and Winning People Over (1) (The Like Switch Series)

View Details

Real estate investing is a numbers game. You’re not a real investor if you don’t know how to factor in costs in any deal. Even business owners understand the numbers involved in a transaction and how to put those numbers together. Knowing your numbers is one of the most critical parts of investing. One wrong move and you might end up selling at a loss.

Today, Don and Ryan discuss the importance of getting the numbers you need before, during, and after every deal. They describe the many costs investors need to know by heart as well as the ideal percentages and ratios with each one. They also share their experiences when it comes to crunching the numbers as well as a few tips on making a deal even more profitable.

“There’s an opportunity cost to the cost of money - even if it’s your own money.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

The five costs in rehabbing.
The questions you need to ask when considering the costs of an investment.
The percentages you should remember when computing costs.
Why being the fastest in a deal matters in a busy market.
When do you tighten your numbers?
Real world experiences, ROIs, and percentages.

Key Takeaways:

In wholesaling, the first deal makes or break you.
Never go below the "$1.00 in to $0.50 out" ratio.
Always estimate your deals based on the most expensive money you have.
When it comes to properties, you always have to buy right. Nothing else matters if you don't buy it right.

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

Your marketing efforts have finally come to fruition, and you now have a chance to apply all the lessons you learned in the last several weeks. Your first deal is right around the corner, but you’re also nervous because you might screw up an otherwise blockbuster deal. Let us help you land your first deal.

Today, Don and Ryan discuss how to respond to leads and calls for meetings. They share their own experience with some of their favorite leads, their step-by-step formula for analyzing the numbers, and what type of deals you should focus on as a beginner. They also explain some of their methods when it comes to turning a profit and why you shouldn’t get inspiration from HGTV when it comes to rehab.

"Only rehab to the level of the neighborhood you're working in.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The first intuition as you get leads.
How to filter your leads.
The 3-step desktop analysis.
The deals you should go for when you're starting out.
The three numbers you need when analyzing a deal.
The best way to learn when you're starting out.
How to handle your appointments properly.

Key Takeaways:

Just focus on the seller, then go home and focus on the numbers.
You don't have to be perfect on your initial offer.

Resources Mentioned:

Realtor
Trulia
Zillow

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

All the real estate marketing effort you do through networking, as well as free and low-cost marketing, leads you to the next step in your business -- generating leads. Without clients, your company will cease to exist. Calling people to generate leads is one of people’s biggest hang-ups. The question remains -- how far you are willing to go to take your business and career to another level?

On today’s episode, Ryan joins me to share how to alleviate the pressure of getting leads. We talk about the common fears people have when talking to potential clients on the phone, why it’s okay to make mistakes, and a couple of key data points to remember when generating leads on the phone.

"It’s about the relationship, not the numbers.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What to do if you made mistakes
The most important thing you need to be concerned about
How to answer the phone
Why it’s essential to know why the seller is selling
The benefits of keeping your mouth shut
Bullet points versus scripts
Close questions versus open questions

Key Takeaways:

Be as genuine as possible.
Build a relationship first. Get the information second. And leave that door open to continue the conversation.
Allow yourself to screw up the first few calls.

Resources Mentioned:

Phone Script by John Martinez
Lead sheet
County Website
Zillow
How to Win Friends and Influence People Book by Dale Carnegie

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.

View Details

Five weeks in and not only do you have a grasp of the basics and some advanced strategies, but you’ve also expanded your network and learned many ways you can market yourself and generate leads. You know some cool tricks, especially ones that involve software, but what if you’re short on cash to afford those? In that case, there’s one tried and tested marketing strategy that might just save you: door-knocking.

Today, Don and Ryan discuss door-knocking, one of the oldest marketing tricks in the book, if not the first. They each share their reasons why door-knocking is effective, what it was like when they did it for the first time, and why they’re still doing it now. They also describe some of the misconceptions about door-knocking and give their tips on how to increase your success.

"The people who consistently market win day in and day out.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What makes door-knocking an effective way to market yourself?
What's a Notice of Default list?
Should you connect with homeowners early on, in pre-foreclosure, or when they have a couple of weeks left?
The misconceptions about door-knocking.
What you can do to overcome door-knocking anxiety.
Ways to increase door-knocking success.

Key Takeaways:

Your goal in door-knocking is for them to understand your criteria and to get their permission to follow up.
If you've built enough rapport, they'll tell you their problems.

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

We are already in the fourth week, and this time it’s all about lead generation and marketing. Getting educated is important in any industry, but it’s all for nothing if you can’t actually buy a property. Where do you start? What kind of marketing tactics should a beginner employ?

Today, Don and Ryan describe their first marketing strategies when they were new and how they’ve improved since. They explain the different types of marketing available at your disposal as well as help you know which ones you should focus on. They also illustrate the importance of consistency from a capital viewpoint.

"It doesn't matter how much money you spend in marketing. If you're not consistent you're throwing your money away.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

What you need to consider before starting a marketing campaign.
How much money should you budget for marketing purposes?
The importance of consistency in marketing.
Ways you can market yourself with a small capital.
How specific should you be in marketing?

Key Takeaways:

Don't get caught up in the hype that most gurus recommend on marketing budgets.
Having the right mindset is the most important thing when starting out.
When it comes to marketing strategies, it's always depth over width.

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.

View Details

Networking and building relationships is critical to build a successful business. By networking with others in the industry, you not only learn more about the various real estate markets you want to invest in - you also open the doors of opportunity to start your business on the right foot by learning from other people’s mistakes.

But, as a new investor, where do you turn to begin building those valuable connections and relationships?

On today’s episode, Don and Ryan discuss what you should have accomplished in your first two weeks in business as well as what you need to strive to achieve by the end of your third week. They discuss the minimum number of agents, wholesalers, rehabbers, and landlords you should have networked with already and explain how to meet them. They also describe the general process behind wholesale transactions and warn against some of the mistakes both new and veteran investors make when it comes to closing deals.

"Disclosure is your best friend as a wholesaler.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What you need to focus on in the first month of your real estate business.
How to network with other professionals in the real estate industry.
Why you can learn so much by just driving a neighborhood.
What you can contribute as a rookie in this industry.
The best way to conduct a wholesale transaction.
One of the major mistakes you can make as an investor.
The full wholesaling process.

Key Takeaways:

There's no mistake in creating relationships.
You have to know the neighborhood you're going to invest in inside and out
If you don't ask, you're never going to get any answers.

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.

View Details

RPB002 - Solidifying Your First Week Strategies to Build a Successful Real Estate Business

Welcome back to FlipTalk’s Rookie Play Book podcast. In our last episode, we went over what new investors should focus on during their first week as a real estate investor and discussed the topics of wholesaling, common mistakes new investors make, the importance of knowing how to use the MLS, and why networking is critical.

On this week’s episode, Don and Ryan discuss the importance of setting goals on paper, how you can work on and behind the MLS, and why knowing your market should be considered a top priority above all. They also explain what real networking is, what it takes to build a good networking relationship, and why it’s not just handing out business cards to everyone you meet.

“You have to network with intention. You have to do everything with intention.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

How should you plan for your marketing?
What true networking looks like.
How to make yourself stand out when handing out business cards.
Why being new doesn't mean you don't have anything to bring to the table.
The importance of finding out about your market through conversation.
Can you have too much information when you're starting out?
How important are the numbers in your second week of business?
Why it's tough to determine the value of certain neighborhoods.
Why you shouldn't be spending money right now.

Key Takeaways:

Set your goals now so you start becoming purposeful in your real estate journey.
Networking means building relationships.
Go into a deal with confidence.
You may run into some negativity during the first couple of weeks, especially when you're out there finding the realities of the markets.
There's no better people to do business with than those you've been doing business with for a long time.

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.

View Details

Welcome to FlipTalk’s Rookie Play Book podcast - the show dedicated to helping new real estate investors learn the step-by-step process of building a successful business as an investor. Each week, your hosts Don Costa and Ryan Scialabba share real-world experience, insight, tips and strategies to help you learn the necessary steps to start, build, and grow your real estate business. Don and Ryan break down the tasks new real estate investors need to accomplish each week in order to learn their markets and overcome various obstacles to build a successful business.

On this week’s episode, Don and Ryan break down what new real estate investors should focus on during their first week in business. They discuss why they believe starting in wholesale is the best way for many new investors and mistakes many new investors make when building a team. They also discuss the importance of gaining MLS access, overcoming mindset challenges, and the importance of networking with others in the real estate industry to grow your network and learn about your market.

“It’s like building a foundation on a building. It takes a little bit of work.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

What it means to “know your market”
The importance of building your network early in your business
Benefits and risks of getting advice and opinions from market experts
The importance of time-blocking tasks
The importance of attending events and connecting with big buyers
Why building a “power team” is important
Mistakes many investors make when building a “power team”
The ideal person to contact when working with title companies
Overcoming fears and mindset challenges
The importance of learning from mistakes

Resources Mentioned:

BiggerPockets
com

Key Takeaways:

Learn your market.
Build your network.
Create a list of upcoming meetups and events you can attend over the next month and attend as many as you can.
Know your value and that you are worthy, if you are willing to put the work in.
Learn from your mistakes. Brush yourself off and keep going. Have a growth mindset.

Subscribe, Rate, & Review FlipTalk’s Rookie Play Book

Thanks for tuning into this week’s episode of FlipTalk’s Rookie Play Book, the podcast teaching new real estate investors how to build a successful real estate business. If you enjoyed this week’s episode, head over to iTunes, subscribe to the show, and leave your honest review.

Don’t forget to share each episode on your favorite social media sites to help other new investors learn what it takes to build a successful real estate business.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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.

View Details

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 PlayBook:

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 PlayBook 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.

View Details

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.

View Details

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.

View Details

Your business is only as good as the team you form around it. So, when bad things happen, the market is the last thing you should blame as a business leader. Not everything goes smoothly in business, and many say failures are stepping stones to success. Shortcomings because of avoidable human errors, on the other hand, are the kind of stones you don’t want to step on.

Today, Don and Ryan discuss what it means to inspire your team to be better versions of themselves. They explain the importance of communicating your intent to improve them through mechanical criticism. They also share their experience when one of their team members fall short of what is required and how they helped them get back up.

"We're all trying to get ourselves up to the next level." - Ryan

Scialabba

This Week on FlipTalk’s Rookie Play Book:

Ryan's conversation with his team and the issue they're facing.
What separates entrepreneurs from the typical employee.
The problems businesses encounter with their marketing strategy.
What it means to critique your team mechanically.
Don's experience in critiquing his team to promote a higher level of thinking.
When the leader should and shouldn't take responsibility for errors.
The effort they exert in closing deals and the habits they promote.

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

The best way to sustain your business is to become the top-of-mind company to potential leads. It means you have to be always relevant, and to be relevant is to actively pitch your business to sellers and buyers alike. This is where an efficient and well-calculated marketing strategy comes in.

Today, Don and Ryan share some of their business goals for the coming year and why they’re putting a lot of emphasis on efficient marketing strategies. They describe their personal preferences regarding sales processes and which method nets the most leads. They also explain some of the critical metrics you have to consider when planning your marketing strategy as well as how you can go about managing each one.

“Your marketing process converts leads from a call to a client to a sale.” - Ryan Scialabba

This Week on FlipTalk’s Rookie PlayBook:

How to use your network to leverage the right private money.
Why real estate for 2019 starts in November.
What you need to ask yourself as a business owner entering the new year.
Goal setting and knowing the right metrics for marketing.
How to make your company predictable in your marketing.
Is a one percent response rate good enough for your marketing?

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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 PlayBook 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.

View Details

The market may seem to be brighter every day, but we all know this uptrend won’t last forever. As investors, we must not only put money on assets but also make sure we protect them. You have to establish an adequate cash flow so you won’t end up with negative returns during a short or even long-term crash.

Today, Don and Ryan explain what it means to have high-level cashflow control. They share examples of numbers you always need to keep in mind and share the strategies they used to adjust to the market today. They also describe what it truly means to have true wealth and what it takes to get it as well as comment on the current market trend and share ideas on where it will go from here.

“Cash flow, in any business, is the blood that makes your heart pump.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

Why it's fine to not be missed by your team.
Knowing what to fix in your business so it can scale.
Their predictions in what will happen to the market in the next few months.
How they adjusted their business strategies to the current market.
The three stages of real estate investment and their time frames.
How Mid-term Elections can affect the real estate industry.
Why having your own capital tied to deals is a double-edged sword.
Tips on maintaining a healthy cashflow.

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

The higher you go in business, the harder it is to keep track of its growth. That’s a fact for any type of business, even in real estate. Crunching numbers in deals is one thing, but to deep dive into numbers of your own company is a whole other matter. If you don’t know what you’re doing, things can go south pretty fast.

Today, Don and Ryan discuss the importance of not just having data but having a ton of it. They explain how accumulated data can help steer your business in the right direction and how the same data can be used to set new goals. They also suggest some of the critical types of data you and your team must keep tabs on at all times and share tips on how you can gather individual data from separate marketing campaigns.

“You need to know more than 15 key numbers in your business to really see its health at any given time.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What you need to know when buying and selling properties.
Tips on how you can track the numbers that matter.
The metrics that matter at this stage of your business.
The results of tracking numbers carefully and how you can use them with your marketing.
Their perspective on what it takes to build a team.
What's in store for the Rookie Playbook in the future?

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

The term “real estate business owner,” is heavily associated with being rich and owning a lot of luxury cars. The media, particularly social media, has a way of exclusively showing the perks of being a successful real estate investor, but what a lot of people don’t realize is there are a lot of uglies happening behind the scenes. It’s not always rainbows and butterflies, as the song goes, and it’s no different in this industry.

Today, Don and Ryan discuss some of the worst things that could be said about this industry from the perspective of a business owner. They share their recent setbacks, how they happened, why they happened, and how they resolved them. They also explain why these setbacks are normal and how investors should confront them.

“It's not systemizing the business that's challenging. It's the controlling the human variable the system depends on.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

Discussing the ugly side to real estate investing.
What they really hate about the property business.
The worst days in their entire careers.
The reason why Don went to court today and how it was resolved.
Why you should be happy with some of the problems you deal with.

Send in the questions you want to be answered on the Rookie Playbook to be rewarded with a $100 Amazon Gift Card!

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.

View Details

Growing your business involves a lot of human resources and even more working hours. The initial growth will make you feel proud and excited at what you’ve accomplished. However, there will be times where you encounter a plateau and meet stagnation. What should you do to overcome and break past this state of your business?

Today, Don and Ryan discuss what is needed to continue growing in a market where every company wants to expand. They share the importance of learning multiple ways to make money from a deal without losing sight of the core of the business. They describe some of their recent challenges and how they solved them. They also explain the importance of always having the drive to learn - no matter how far you are in this industry.

“There are a million ways to make a million bucks; you just need to pick one and stick with it.” - Ryan Scialabba

This Week on FlipTalk’s Rookie PlayBook:

Why being good on one facet of real estate is critical for long-term success.
What it means to build stability in the market.
Why monetizing every lead isn't always ideal for business growth.
Some of the challenges they have recently faced and how they are overcoming them.
The importance of developing a mindset that keeps you

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 PlayBook 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.

View Details

Part of the role of an acquisitions manager is to have the patience and wisdom of a researcher and the charisma and confidence of a negotiator. Their tasks mainly revolve around fieldwork, settling, and elections to purchase short and long-term lease agreements that meet your business’ goals. Suffice to say, hiring the right acquisitions manager is critical to making sure each contract signed will translate to your company’s earnings.

Today, Don introduces his Acquisitions Manager, Ruben, to answer a few questions from our fans on Facebook. Ruben shares his professional background, how he began working as an acquisitions manager, and some of the projects he’s collaborated on so far. He explains how to prepare for an appointment with a new lead and shares key tools and equipment an acquisitions manager should always have access to. He also describes the importance of not just establishing a relationship with the client, but to also make sure you don’t let the momentum grow cold.

“You can't control a lot of things, but what you can control is how you go into that appointment, how you react, and how you raise questions.” - Ruben

This Week on FlipTalk’s Rookie Play Book:

How to prepare for an appointment.
What is the After Repair Value and why is it important?
The tools and equipment to bring for an appointment.
The importance of establishing rapport and doing a follow-up as soon as possible.
What to do with the appointment if you don't get the contract.
His advice for new acquisitions managers.

Resources Mentioned:

Never Split The Difference book by Chris Voss
Start with No book by Jim Camp
John Martinez

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.

View Details

You can invest a lot of money in getting educated and learning from real estate experts, but it will all be for nothing if you don’t take action. Overthinking the risks and methods involved in this type of business will get you nowhere. Sometimes the only advice you need is the advice that makes you walk out that door and get started.

Today, Don and Ryan describe the challenges of employing people who look capable on the surface, only to be exposed when pressured and how having quality communications can impact your company’s performance. They also explain how veteran entrepreneurs can make decisions faster than their newer counterparts and express their opinions on building your reputation and how you can prevent it from being ruined.

“A bad result is better than no result. At least you know you got a result.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

How quality communication improves business performance.
Our experience with members who can't keep up with the business.
How to get over the fears of hiring and firing an employee.
The difference between new entrepreneurs and entrepreneurs running multi-million-dollar businesses.
How you can protect your reputation from the mistakes you make.
The importance of taking action - even if it ends in failure.

Key Takeaways:

It takes five minutes to ruin your reputation if you've done a lot of shady things along the way.

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.

View Details

You can market your business without scaling, but you can’t scale a business without marketing. Marketing is responsible for getting your business leads, referrals, and closed deals. This is why a properly executed marketing strategy is imperative when it comes to expanding your real estate business.

Today, Don and Ryan discuss some of their best-kept marketing secrets and how they led to successfully scaling their businesses. They share the marketing strategies they used, the ones that failed, and which strategies they found most successful. They also explain the importance of learning how a marketing strategy works before trying it and describe what it means to know your customers and how it dictates your business model.

“Marketing comes down to understanding what you're doing and why.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

Why Ryan walked away from pay-per-click marketing.
Why demographics are important in marketing your real estate business.
How to determine the right business model.
When is PPC not the best marketing strategy?
The importance of trying different ways to market your business.
How long it should take to establish a marketing strategy.

Key Takeaways:

Don't trust the people making a commission off of you.
Try different marketing strategies and understand why some work and why some don't.

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.

View Details

Real estate investing is a numbers game. You’re not a real investor if you don’t know how to factor in costs in any deal. Even business owners understand the numbers involved in a transaction and how to put those numbers together. Knowing your numbers is one of the most critical parts of investing. One wrong move and you might end up selling at a loss.

Today, Don and Ryan discuss the importance of getting the numbers you need before, during, and after every deal. They describe the many costs investors need to know by heart as well as the ideal percentages and ratios with each one. They also share their experiences when it comes to crunching the numbers as well as a few tips on making a deal even more profitable.

“There’s an opportunity cost to the cost of money - even if it’s your own money.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

The five costs in rehabbing.
The questions you need to ask when considering the costs of an investment.
The percentages you should remember when computing costs.
Why being the fastest in a deal matters in a busy market.
When do you tighten your numbers?
Real world experiences, ROIs, and percentages.

Key Takeaways:

In wholesaling, the first deal makes or break you.
Never go below the "$1.00 in to $0.50 out" ratio.
Always estimate your deals based on the most expensive money you have.
When it comes to properties, you always have to buy right. Nothing else matters if you don't buy it right.

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

Your marketing efforts have finally come to fruition, and you now have a chance to apply all the lessons you learned in the last several weeks. Your first deal is right around the corner, but you’re also nervous because you might screw up an otherwise blockbuster deal. Let us help you land your first deal.

Today, Don and Ryan discuss how to respond to leads and calls for meetings. They share their own experience with some of their favorite leads, their step-by-step formula for analyzing the numbers, and what type of deals you should focus on as a beginner. They also explain some of their methods when it comes to turning a profit and why you shouldn’t get inspiration from HGTV when it comes to rehab.

"Only rehab to the level of the neighborhood you're working in.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The first intuition as you get leads.
How to filter your leads.
The 3-step desktop analysis.
The deals you should go for when you're starting out.
The three numbers you need when analyzing a deal.
The best way to learn when you're starting out.
How to handle your appointments properly.

Key Takeaways:

Just focus on the seller, then go home and focus on the numbers.
You don't have to be perfect on your initial offer.

Resources Mentioned:

Realtor
Trulia
Zillow

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

Welcome back to FlipTalk’s Rookie Play Book podcast. In our last episode, we went over what new investors should focus on during their first week as a real estate investor and discussed the topics of wholesaling, common mistakes new investors make, the importance of knowing how to use the MLS, and why networking is critical.

On this week’s episode, Don and Ryan discuss the importance of setting goals on paper, how you can work on and behind the MLS, and why knowing your market should be considered a top priority above all. They also explain what real networking is, what it takes to build a good networking relationship, and why it’s not just handing out business cards to everyone you meet.

“You have to network with intention. You have to do everything with intention.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

How should you plan for your marketing?
What true networking looks like.
How to make yourself stand out when handing out business cards.
Why being new doesn't mean you don't have anything to bring to the table.
The importance of finding out about your market through conversation.
Can you have too much information when you're starting out?
How important are the numbers in your second week of business?
Why it's tough to determine the value of certain neighborhoods.
Why you shouldn't be spending money right now.

Key Takeaways:

Set your goals now so you start becoming purposeful in your real estate journey.
Networking means building relationships.
Go into a deal with confidence.
You may run into some negativity during the first couple of weeks, especially when you're out there finding the realities of the markets.
There's no better people to do business with than those you've been doing business with for a long time.

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.

View Details

When you have a working contract, the next step is finding the right buyers. This may come as a bit of a challenge for a new real estate investor, as the market is hot right now and everyone wants to buy something. However, just because people want to buy doesn’t mean you should just wholesale the contract to the first interested prospect.

Today, Don and Ryan describe the steps new investors need to take when it comes to wholesaling a real estate contract. They discuss the importance of getting to know the new faces in the market, how your established connections can help you find a good buyer, and why there are cash buyers who aren’t really what they seem. They also share their personal experiences when wholesaling contracts as well as provide tips on how to avoid being sued.

“Be good and be righteous to people and you're never going to have problems.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The importance of asking about new lenders or buyers in the market.
Tips on building a buyer's list on a budget.
How do you approach cash buyers with the property?
Their personal experience regarding cash buyer relationships.
The relationships you shouldn't involve yourself in.
What to do during a lawsuit.
How to prevent buyers from pushing you around.

Key Takeaways:

Don't stop marketing the contract.
Local hard money lenders should always be your priority.
Learn to vet the cash buyers you encounter.
You should have relationships in the different places you're marketing to.

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.

View Details

After dedicating several weeks of your time and energy into finding your first deal, there’s no better feeling than getting your first contract. Your first deal is the start - the first milestone - of what you are capable of achieving in the real estate investing industry. As exciting as it can be, however, getting the contract signed is only the first step toward moving your project forward.

On today’s episode, Don and Ryan discuss what you need to know after closing your first deal and the steps you need to take immediately after receiving the contract. They discuss the importance of setting realistic goals and expectations, evaluating your current financial situation, as well as the options you have available for finding a buyer for your first property. They also explain what a Daisy Chain is, why many investors do not recommend new investors using them and share their personal stories on what their first deals were like and the lessons they have learned from closing those deals.

“There are highs and lows in the real estate game, but there are no highs better than getting that contract.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

How your first contract impacts the proof of concept for your real estate business.
The importance of staying determined despite other people’s opinions.
The importance of setting realistic goals and expectations.
Strategies to consider after receiving your first real estate contract.
Challenges associated with transitioning from dealing with cashflow properties to rehabilitation and wholesale properties.
The impact that your current financial situation can have on your first property deal decisions.
Steps to take immediately after receiving your first contract.
Using other people’s marketing to your advantage.
The importance of building your buyers list.
Tips for working with wholesalers.
What is a Daisy Chain?
The disadvantages associated with using Daisy Chains to promote your property.
The difference between Daisy Chains and co-wholesaling.

Resources:

Craigslist
Google
Investor Meetings
Title Companies

Key Takeaways:

Evaluate your current financial situation to help you make strong decisions for your first property deal.
Remember: You do not need a huge buyers list to be a successful real estate investor.
Don’t get tempted by Daisy Chains.
Be empathetic. Always do the right thing.

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.

View Details

A lot of new real estate investors tend to get distracted with the “shiny object syndrome” - the thought that they need to continually recreate the wheel or try something new before they’ve mastered the foundational skills. Many new investors fail to realize that the majority of building a successful real estate career relies on their ability to continually repeat the simple, yet powerful fundamental process that enabled them to achieve success with their first deal.

On today’s episode, Don and Ryan explain why it’s critical to follow the “Rinse and Repeat” model of building your real estate business. They discuss the importance of finding the right people to add to your team, evaluating and reverse engineering the process you used to successfully close your first deal, and the importance of finding constants and removing barriers as you continue to build your real estate empire. They also share stories of how they’ve worked through various unexpected title issues throughout their career and tips for new investors trying to navigate their way through issues with property titles.

“The process is never going to change.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The importance of evaluating your process as a whole.
The four core parts of running a successful real estate business.
Removing barriers and finding constants.
The importance of picking your title attorney.
The importance of identifying the end result you want to achieve when building systems and processes in your business.
Reverse engineering your processes to remove variables.
Digging deeper into the markets you want to explore.
Working through title issues and the importance of asking questions and being curious through these issues.
The importance of auditing your time.

Key Takeaways:

Don’t fall prey to “shiny object syndrome.” Rinse and repeat the foundational process.
Realize that deals blow up multiple times during the closing process. Don’t freak out.
Understand that who is on your team truly matters. Put problem-solvers on your team.

Resources:

Foremost Insurance Group
Farmers Insurance
American Modern

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.

View Details

We are already in the fourth week, and this time it’s all about lead generation and marketing. Getting educated is important in any industry, but it’s all for nothing if you can’t actually buy a property. Where do you start? What kind of marketing tactics should a beginner employ?

Today, Don and Ryan describe their first marketing strategies when they were new and how they’ve improved since. They explain the different types of marketing available at your disposal as well as help you know which ones you should focus on. They also illustrate the importance of consistency from a capital viewpoint.

"It doesn't matter how much money you spend in marketing. If you're not consistent you're throwing your money away.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

What you need to consider before starting a marketing campaign.
How much money should you budget for marketing purposes?
The importance of consistency in marketing.
Ways you can market yourself with a small capital.
How specific should you be in marketing?

Key Takeaways:

Don't get caught up in the hype that most gurus recommend on marketing budgets.
Having the right mindset is the most important thing when starting out.
When it comes to marketing strategies, it's always depth over width.

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.

View Details

Marketing and advertising play critical roles in the success and longevity of your real estate business. There are many options and strategies you can use to begin promoting your business, finding leads, and acquire new deals to get your business started on the right track. However, this often leads many new real estate investors, flippers, and wholesalers to use the “shotgun marketing” approach - which can eventually lead to failure.

On today’s episode, Don and Ryan discuss why new real estate investors should focus on one marketing strategy at a time instead of taking a shotgun approach. They share some of the most common marketing strategies used throughout the industry as well as several that industry leaders often overlook. They also discuss the importance of maximizing your time and money when considering which marketing channel to use in your business and various strategies they used when they were just getting started.

“When you have a smaller marketing budget and you spread it among several things, you’re really just throwing your money away.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

Free and low-cost marketing techniques.
The importance of blocking time in your schedule to devote to marketing.
How attending and speaking at networking events can help you grow your business.
Investing in Pay-Per-Click advertising.
Using direct cold calls to find new deals.
Incorporating direct mail marketing
Advertising your business in newspapers, tv, and radio.
How to be successful with cold call marketing, direct mail marketing, and Pay-Per-Click marketing strategies.
Lessons we have learned regarding Pay-Per-Click advertising.
Creating marketing materials that help you stand out.
Evaluating your cost-per-buy metrics.
Why new real estate investors should focus on one paid marketing channel at a time.
How being consistent impacts your marketing strategy’s success.
Why you should test your direct mailing lists.
Identifying what marketing strategies work, what doesn’t, and doubling down on what does.
How to build your list organically.
Marketing strategies we used as new investors.

Key Takeaways:

Start with one marketing channel at a time.
Learn what works - and what doesn’t. Double down on what works.
As you master one marketing channel, you can slowly begin adding other avenues to your strategy.
You don’t have to have a big budget to get started, but you have to be committed.

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.

View Details

When you’re just starting your real estate investing journey, one of the most critical factors you should consider is how you plan to finance your projects. Deciding whether to use hard money lenders or JV partnerships to raise private money to fund your projects is often one of the most challenging decisions you will need to make.

On today’s episode, Don and Ryan share how they raised money to fund their first projects and the lessons they have learned from these experiences. They share strategies to consider when determining which fund-raising method is right for your business, the difference between using hard money lenders and JV partnerships as well as the benefits associated with each strategy. They also explain the importance of building a reputation based on trust and how it impacts your ability to raise private capitol.

“The property is the collateral - you are the security.” - Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

Strategies for raising private money.
How being trustworthy impacts your ability to raise private money.
Working with hard money lenders.
The benefits of working with local hard money lenders.
Funding your real estate projects with JV partnerships.
The benefits of JV partnerships.
How branding impacts your ability to grow your business.
How your mindset impacts your ability to raise private capitol.
What is a “Credibility Packet” and what should be included?
The pros and cons of using a Credibility Packet.
Secured versus unsecured borrowing.
Best practices for raising private money.

Key Takeaways:

Your ability to raise private money is directly related to how well you get people to trust you.
If hard money lenders are lending in your market, they know what’s going to work and what’s not going to work.
Raising money comes down to salesmanship and confidence.
Do what you feel is comfortable.
Don’t get hung up on having a Credibility Pack.

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.

View Details

As your journey of starting a real estate investing and rehabilitation business continues to unfold, you have likely realized there are many moving parts associated with getting your business off to a great start, landing your first real estate deal, and working your way toward success. At the end of your first quarter, you should already have at least one real estate deal under your belt and should be ready to develop a plan of action on how you want to earn a profit from that deal.

On today’s episode, Don and Ryan recap where your real estate investing business should be at the end of Quarter 1 as well as provide a basic understanding of what you can expect in Quarters 2, 3, and 4. They also share the topics they will discuss in future episodes that will help you get a better understanding of how to run and operate your business and create systems and processes that will support the growth of your company.

“Honing in on your craft can really be the make or break point to getting your first deal or leveling up in your business.” - Ryan Scialabba

What’s Next on FlipTalk’s Rookie Play Book:

Building your wholesale buyers list.
Marketing strategies you can use to attract contractors for your real estate rehabilitation project.
Avoiding mistakes during construction and rehabilitation projects.
Systems and strategies for achieving the maximum profit possible.
Basic hiring and team building strategies
What to expect during Quarters 3 and 4.
Putting systems and processes in place that work best for your real estate business.

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.

View Details

Hiring and managing contractors is often one of the most challenging aspects of owning a real estate rehabilitation company. There are many moving parts and things to consider when finding and hiring the right contractors to work on your rehab project. Understanding where to find good contractors as well as how to properly vet and train them is critical to building a successful real estate business.

Today, Don and Ryan discuss how working with the right contractors can impact the success of your real estate business. They explain how your local market can impact the cost of property repairs and how to use inspection periods to properly vet contractors and make better buying decisions. They also share strategies on finding good contractors to work with, the characteristics of a good, trustworthy contractor, and the benefits of working with and training newer contractors instead of veterans.

“Once you find a good contractor, it changes your business forever. You become unstoppable as a flipper.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

How to identify the level of renovation you need to accomplish on your rehab project.
The importance of basing your offers on the most conservative number within your estimate range.
How to train property acquisition managers.
The benefits of taking photos and video during the initial walkthrough of a property renovation project.
What to consider when estimating repairs.
The importance of knowing the numbers in your market.
How your local market can impact the cost of property repairs.
How to develop a standardized price list for repair costs in your market.
Using inspection periods to make better property buying decisions.
Characteristics of a good contractor.
How to assess contractors.
How to set your contractors up for success.
How to avoid contractor burnout.
Where to find contractors to work with.
The benefits of working with newer contractors.
Navigating the bidding process.
How line item bids help avoid misunderstandings and instances of miscommunication.
Dealing with pushback from contractors

Resources Mentioned:

National Standard for Property Repairs Sheet
Our 4-Page Bidding Process

Key Takeaways:

Make it a point to know your numbers in your market.
Hire the person first, then the skillset.
Ask for references from other investors for good sub-contractors.
Realize your resources are all around you - you just have to be resourceful.
Don’t be afraid to assert your system and process on your contractors

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.

View Details

Networking and building relationships is critical to build a successful business. By networking with others in the industry, you not only learn more about the various real estate markets you want to invest in - you also open the doors of opportunity to start your business on the right foot by learning from other people’s mistakes.

But, as a new investor, where do you turn to begin building those valuable connections and relationships?

On today’s episode, Don and Ryan discuss what you should have accomplished in your first two weeks in business as well as what you need to strive to achieve by the end of your third week. They discuss the minimum number of agents, wholesalers, rehabbers, and landlords you should have networked with already and explain how to meet them. They also describe the general process behind wholesale transactions and warn against some of the mistakes both new and veteran investors make when it comes to closing deals.

"Disclosure is your best friend as a wholesaler.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What you need to focus on in the first month of your real estate business.
How to network with other professionals in the real estate industry.
Why you can learn so much by just driving a neighborhood.
What you can contribute as a rookie in this industry.
The best way to conduct a wholesale transaction.
One of the major mistakes you can make as an investor.
The full wholesaling process.

Key Takeaways:

There's no mistake in creating relationships.
You have to know the neighborhood you're going to invest in inside and out
If you don't ask, you're never going to get any answers.

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.

View Details

By week 16 in your real estate investing business, you have already learned much of the basics of running your business. Finding properties, negotiating deals, renovating homes, hiring a team, and marketing your products for the best possible return on investment are a few of the things you should have already began doing. By now, it often means that everything that comes next in your business is simply a matter of “rinse and repeat” Start from scratch and continue to build your team, grow your efforts, network, and market.

Week 16 is also often the time when self-doubt begins to settle in for many new property investors. Today, Don shares why it’s critically important to get your mind right as you continue to build your business. He shares how he handles negative thoughts, self-doubt, and why he believes that having confidence and believing in yourself is a key fundamental of starting your business and taking it to the next level. He also shares the primary difference between highly successful real estate investors and beginners, how honing your sense of value and self-worth can help you operate at a higher level, and why continuing to network and meet new people is critical to the longevity of your real estate business.

“You are all fully and completely capable of making your dreams come true.” - Don Costa

This Week on FlipTalk’s Rookie Play Book:

How sticking to the fundamentals can help you achieve success.
The importance of learning your numbers.
Why believing in yourself is critical to your success.
The primary difference between highly successful real estate investors and new investors.
How honing your sense of value and instinct helps you operate at a higher level.
The importance of networking.
What is wholetaling and how you can use it as an exit strategy.

Key Takeaways:

This business isn’t hard. The fundamentals are easy. Stick to the fundamentals.
A lot of what keeps someone who is newer from taking action is that confidence in themselves - that belief.
The only thing that separates those from success and failure in this business is quitting.

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.

View Details

Expanding any business requires a lot of capital, willpower, and people. Depending on how big or fast you want to scale, you can end up hiring more than a handful of experts who will help you grow your business. Hiring isn’t as simple as it seems, though, and there are a lot of factors to consider to make sure who you get for a specific position fits just right.

Today, Don and Ryan discuss what you what you need to know when building a team and hiring for the first time. They share their experiences when they hired assistants and managers for the first time, the errors they made, and what they did to rectify the problems they encountered. They also explain why experience is not always critical for new businesses.

“You don't have to hire somebody who is experienced. Sometimes when you're a newer business that's the worst thing you can do.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

Who their first hire was and why they needed to hire.
Why experience is not always a necessity in a new company.
What they learned from their first hire.
Tips on how to know who to hire first.
What to know before hiring for the first time.

Key Takeaways:

You can make any role efficient and not that expensive if you can do more tasks yourself.
The first hire can work out in some ways and not work out in other ways.
There's a commitment when it comes to hiring. Not only financially, but also mentally.

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.

View Details

Filling positions for your business takes a lot of time and resources, but with enough effort and smart decision making, you could end up hiring the right candidate that can take your business to new heights. One of the most important positions is acquisitions. A great acquisitions manager can significantly impact the growth of your business.

Today, Don and Ryan discuss how they hired their first acquisitions person. They share the strategies they used to filtered potential candidates, what they suggest small companies should look for in this role and explain why they see this position as critical to the success of the business. They also provide tips on how to utilize the acquisitions person to their full extent.

Financially, acquisitions is one of the first positions you want to get off your plate.” – Don Costa

This Week on FlipTalk’s Rookie Play Book:

Their experience in hiring their first acquisitions person.
What makes a good acquisitions person?
Why attention to detail is critical in this type of business.
The secret in hiring the perfect acquisitions manager.
Why you should scale your marketing before hiring an acquisitions manager.
What to do if you don't have leads for your acquisitions person?

Resources Mentioned:

Fire Yourself! book by John Rusciano and Lisa Brezonik

Key Takeaways:

Acquisitions is a critical position to fill, so make sure you only pick those who share the same passion as you.

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.

View Details

There are three types of rookie investors: the one too scared to make an offer, the one who thinks they screwed up, and the one who feels like they rocked it. Regardless of what category you fall under, you all go through the same methods and strategies in structuring an offer. The only difference between successful and failed offers are the execution and the details, and this is a pretty steep mountain to climb.

Today, Don and Ryan discuss the do’s and don’ts of structuring offers. They explain the importance of understanding the seller, why rapport is critical, and why you should never give any number over the phone. They share their mistakes and how they managed to learn from them as well as how they used those mistakes to lead their team.

“Making no offers is wasting time because you'd never know what someone's gonna take.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

How to structure the offer.
Why getting a number is critical before giving an offer.
The questions you should ask to get a number from the seller.
What not to do when making offers.
The importance of establishing rapport.
Why it's okay to sometimes lose deals.

Key Takeaways:

Be the most likeable person, build the most rapport, and explain the terms better than anybody else.
At the end of the day, the number is the number. You have to be willing to walk away with what you’ve got.
If they don't give you a number, they're not ready to sell yet.

Resources Mentioned:

The Like Switch book by Jack Schafer

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

All the real estate marketing effort you do through networking, as well as free and low-cost marketing, leads you to the next step in your business -- generating leads. Without clients, your company will cease to exist. Calling people to generate leads is one of people’s biggest hang-ups. The question remains -- how far you are willing to go to take your business and career to another level?

On today’s episode, Ryan joins me to share how to alleviate the pressure of getting leads. We talk about the common fears people have when talking to potential clients on the phone, why it’s okay to make mistakes, and a couple of key data points to remember when generating leads on the phone.

"It’s about the relationship, not the numbers.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What to do if you made mistakes
The most important thing you need to be concerned about
How to answer the phone
Why it’s essential to know why the seller is selling
The benefits of keeping your mouth shut
Bullet points versus scripts
Close questions versus open questions

Key Takeaways:

Be as genuine as possible.
Build a relationship first. Get the information second. And leave that door open to continue the conversation.
Allow yourself to screw up the first few calls.

Resources Mentioned:

Phone Script by John Martinez
Lead sheet
County Website
Zillow
How to Win Friends and Influence People Book by Dale Carnegie

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.

View Details

Five weeks in and not only do you have a grasp of the basics and some advanced strategies, but you’ve also expanded your network and learned many ways you can market yourself and generate leads. You know some cool tricks, especially ones that involve software, but what if you’re short on cash to afford those? In that case, there’s one tried and tested marketing strategy that might just save you: door-knocking.

Today, Don and Ryan discuss door-knocking, one of the oldest marketing tricks in the book, if not the first. They each share their reasons why door-knocking is effective, what it was like when they did it for the first time, and why they’re still doing it now. They also describe some of the misconceptions about door-knocking and give their tips on how to increase your success.

"The people who consistently market win day in and day out.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

What makes door-knocking an effective way to market yourself?
What's a Notice of Default list?
Should you connect with homeowners early on, in pre-foreclosure, or when they have a couple of weeks left?
The misconceptions about door-knocking.
What you can do to overcome door-knocking anxiety.
Ways to increase door-knocking success.

Key Takeaways:

Your goal in door-knocking is for them to understand your criteria and to get their permission to follow up.
If you've built enough rapport, they'll tell you their problems.

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

The contract is what incorporates all the time and effort you have exerted in finding a good deal as well as the result of your people skills. It wasn’t easy, and it never will be, but finding a deal that leads to a contract will eventually become routine. However, before you open your computer and begin creating a contract, there are certain things you need to know to create a contract suitable for your business model.

Today, Don and Ryan share their wisdom on how to create a good contract. They explain the importance of keeping it as simple as possible, why you should have an exit strategy and the reason why you should always properly disclose details to sellers. They also discuss what it means to have a financing contingency as well as what it takes to have lenders give you money.

“The biggest thing is to buy these deals deep enough so that you have options.” – Ryan Scialabba

This Week on FlipTalk’s Rookie Play Book:

The two contracts you will always use in your career.
What makes a great contract?
When should you consider putting a financing contingency in place?
The importance of establishing the right exit strategy.
Why you can always make a mistake even with experience.
The benefits of disclosing everything to sellers.
The three things you need to make a binding contract.
How long should you mull over a contract?

Key Takeaways:

If you have a deal, hard money lenders will never tell you no.
Don't overthink the contract; just make sure it's a contract you can read and understand.
Don't be afraid to make an offer and get it into a contract.

Connect with Don and Ryan

Don’s email: don@fliptalk.com
Ryan’s email: ryan@fliptalk.com

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.

View Details

Welcome to FlipTalk’s Rookie PlayBook podcast - the show dedicated to helping new real estate investors learn the step-by-step process of building a successful business as an investor. Each week, your hosts Don Costa and Ryan Scialabba share real-world experience, insight, tips, and strategies to help you learn the necessary steps to start, build, and grow your real estate business. Don and Ryan break down the tasks new real estate investors need to accomplish each week in order to learn about their markets and overcome various obstacles to build a successful business.

On this week’s episode, Don and Ryan break down what new real estate investors should focus on during their first week in business. They discuss why they believe starting in wholesale is the best way for many new investors and mistakes many new investors make when building a team. They also discuss the importance of gaining MLS access, overcoming mindset challenges, and the importance of networking with others in the real estate industry to grow your network and learn about your market.

“It’s like building a foundation on a building. It takes a little bit of work.” - Don Costa

This Week on FlipTalk’s Rookie PlayBook:

What it means to “know your market”
The importance of building your network early in your business
Benefits and risks of getting advice and opinions from market experts
The importance of time-blocking tasks
The importance of attending events and connecting with big buyers
Why building a “power team” is important
Mistakes many investors make when building a “power team”
The ideal person to contact when working with title companies
Overcoming fears and mindset challenges
The importance of learning from mistakes

Resources Mentioned:

BiggerPockets
com

Key Takeaways:

Learn your market.
Build your network.
Create a list of upcoming meetups and events you can attend over the next month and attend as many as you can.
Know your value and that you are worthy if you are willing to put the work in.
Learn from your mistakes. Brush yourself off and keep going. Have a growth mindset.

Subscribe, Rate, & Review FlipTalk’s Rookie PlayBook

Thanks for tuning into this week’s episode of FlipTalk’s Rookie PlayBook, the podcast teaching new real estate investors how to build a successful real estate business. If you enjoyed this week’s episode, head over to iTunes, subscribe to the show, and leave your honest review.

Don’t forget to share each episode on your favorite social media sites to help other new investors learn what it takes to build a successful real estate business.

Flip Talk Rookie Playbook: Recent Episodes

Don Costa and Ryan Scialabba - Learn to Invest in real estate, flip houses,