Sometimes, in the game of basketball, you face a weak defense where scoring points and resting your stars is easy, like the Golden State Warriors in their prime. Other times, It’s going to feel impossible to score.
The market presents a tough defense that may seem impossible to score against. But just like in basketball, you can tire out the defense, adapt your strategy, and find opportunities.
Real estate, like economic cycles, goes through different defensive phases that require us to adjust our approach.
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When it comes to evaluating real estate investments, we often start with ROI, or return on investment. However, it’s important to understand that ROI primarily focuses on cash-on-cash return, which measures the return on the cash invested in the deal.
But there’s a more comprehensive metric worth exploring: IRR, or internal rate of return.
IRRs take into account various factors like cash flow, loan paydown, equity growth, and tax advantages. It provides a more accurate assessment of the overall return on a property, especially for long-term ownership and value-add strategies.
Remember, when we say it’s not all about cash flow, it doesn’t mean cash flow doesn’t matter—it’s just one piece of the puzzle, similar to how scoring matters in sports but doesn’t define the entire game.
Don’t forget to set a reminder in your phone that I’ll be on YouTube live tonight at 5 PM PST with Kyle. We’ll be having a Q&A session with Kortni.
Come join and ask us questions!
Let’s talk BRRRR method and the secret sauce of adding square footage to small homes.
While bigger houses may have diminishing returns, this gem of a strategy often gets overlooked. In the early days, it was all about the easy fixer-uppers, but as the competition grew, we had to get craftier. Picture this: finding a 1200 square foot house in a neighborhood of 2200 square foot homes and expanding it.
Not only does it boost value, but it also challenges appraisers to underestimate your property. Sure, it takes some construction know-how, creativity, and navigating permits, but trust me, the payoff is oh-so-profitable.
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