Live Q&A - Best Marketing ROI, Determining ARV in Declining Market, and Contract Contingencies

Live Q&A - Best Marketing ROI, Determining ARV in Declining Market, and Contract Contingencies

Author: Inspiring interviews with today's most successful real estate investors! November 24, 2022 Duration: 38:43

Highlights From The Show:

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!

 

This presentation is the live Q&A that I did the week of November 9th and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!



Notable Quotes:

“The opportunities are just off the charts on what we can accomplish in this market.”

 

“I didn’t know what I didn’t know.”

 

“I think we are going to look back at this time 10 years from now and think we missed some opportunities just because we were scared of the market changes.”

 

“The targets and numbers you use to calculate profit for a flip are probably going to stay the same even when you have some experience.”

 

“Your profit margin isn’t always a representation of what will make you happy, but also a built-in margin of error.”

 

“Build in at least a $20k profit margin on the first $100k so that you have some wiggle room if you run into issues with the rehab.”

 

“You don’t want to be on a high wire without a safety net.”

 

“Shoot for a profit margin of at least 15% on the retail price.”

 

“You want to look at what house prices have done in your market since May, since that is really when the market started to decline.”

 

“We don’t put inspection contingencies in our contracts. What we have are funding contingencies.”




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Mike Simmons hosts Investor Cheat Code Podcast, a series built on the idea that the most effective strategies are often the personal ones not found in any textbook. The concept is simple: in video games, a cheat code is a hidden key that unlocks advantages, and this podcast applies that same principle to building wealth through property. You’ll hear inspiring interviews that go beyond surface-level advice, diving into the specific routines, mental frameworks, and sometimes counterintuitive tactics that today's most successful real estate investors actually use in their daily operations. Each conversation is designed to uncover those nuanced habits-the real cheat codes-that have led to tangible results for top performers. Rather than offering generic tips, this podcast focuses on the actionable and often overlooked details that can accelerate your journey. It’s for anyone interested in the practical realities of investing, entrepreneurship, and business growth, delivered through candid discussions that feel like you're getting direct access to a mentor's playbook. Tune in to discover how subtle shifts in strategy and mindset can unlock new levels of opportunity in your own portfolio.
Author: Language: English Episodes: 100

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