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

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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.

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

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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.

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

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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.

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

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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.

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:

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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.

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:

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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.

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

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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.

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:

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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.

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

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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.

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

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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.

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:

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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.