Ryan Dossey Facebook ad: “The longer I’m in real estate, the more…”

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1065359192294468

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The longer I’m in real estate, the more I respect it. When I first started out, my philosophy was overly simplistic: Buy low and sell high! When I started buying rental properties, it became: We make our money when we buy, but we keep it through how we manage. From 2022-24, I learned that sales and marketing are only half the story, and the other half is rarely discussed, let alone mastered: accounting and operations. Here’s where I am today… Real estate can turn you into a financially free jet-setting millionaire or take everything from you; folks choose either bankruptcy or… worse. The fundamentals: Marketing: You need to consistently source deals, control costs on your marketing, and predictably generate an ROI on those dollars. Your KPIs must show you if you’re getting leads, appointments, and conversions. Make data-driven, informed decisions quickly. Letting things just autopay is a great way to go belly up. If staff aren’t converting, why? If your marketing isn’t performing, what aspect of it? Systematically scale up, down, or cancel based upon data, not your feelings. Acquisition: You have to get a good deal. A good deal is not a project that meets the 75% rule. It’s a project with a NET margin left over after every variable has been accounted for and contingencies have been buffered for. I’m talking about the Kw price of energy in your market divided by the number of sqft of your project multiplied by the holding time of your project. Financing: Getting the cheapest capital you can find can add 36% more profit to any project. If I’m paying 7% with a local community bank, I’m doing a lot better than the guy who is paying 12 and 3 points. A lot of investors settle for what’s convenient instead of building what’s best for them. Construction: You have to know where every dollar is going and why, and ensure you’re getting the best quality for the cost. Too many people cut corners (so their stuff doesn’t sell), overrehab it (so they lose money), or (and this is the most common) pay retail for subpar work. I learned this lesson the hard way. I didn’t understand the nuances of construction, and it’s a huge focal point of mine. I no longer ask for a roof. I calculate how many squares it will be and know exactly what it should cost. Design: 10-30% of properties are STILL selling for above their asking price in most major metros (according to data from Redfin). These properties are expertly designed to create demand and desire. Agreeable gray floors, walls, and soul isn’t selling for a premium. Accounting: If you run your finances correctly, you can pick up on a sub overbuying materials for your project to use on others. You should know your all-in cost at ALL times and autopsy your financials on every project. I can’t stress this enough. You should NEVER learn the same lesson twice. Never make less (or lose) money due to the same mistake twice. Some of y'all are moving so fast that you're upside down when you stop and look (or the cc bills come in the mail). Disposition: How you sell your assets matters now more than ever. Crazy demand and low rates allowed bad operators to get away with murder and flex check pics while doing it. You need to price your places appropriately, take professional photos at the right time of day, and actually market your listings. The days of your crusty agent taking iPhone pics and expecting a bidding war are gone. If you want to be average and treat real estate like Vegas, that’s fine… but the house typically wins. If you genuinely want to build something worthwhile for your family, you’re embarking on one of the most challenging and rewarding expeditions of your life. The “cash crunch” is real. If things are feeling tighter, it’s time to treat this business seriously and with respect. https://ccfmastermind.com/