Flip Talk Rookie Playbook Don Costa and Ryan Scialabba - Learn to Invest in real estate, flip houses,

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:



 

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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.

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:



 

Key Takeaways:



 

Connect with Don and Ryan

 





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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.

 

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:



 

Key Takeaways:



 

 

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.

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:



 

Key Takeaways:



 

 

 

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.

 

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:



 

Resources:



 

Key Takeaways:



 

 

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.

 

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:



 

 

Resources Mentioned:

 



 

 

Key Takeaways:





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.