209 - Why The First $100 Matters
Cash Flow Guys Podcast
English - December 13, 2019 10:00 - 10 minutes - 15.3 MB - ★★★★★ - 120 ratingsInvesting Business Education How To business finance investing kiyosaki passive passiveincome realestate richdad Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
This week we are going to have a conversation about how to make that first $100 in recurring revenue. You might be wondering why I picked such a “low” number considering that for many, the magic number to escape the rat race seems to be $10k a month.
As you can imagine, it takes lots of $100 bills to make $10,000, in fact, it takes one hundred of them every month to add up to $10,000. That sure sounds like a bunch of work, doesn’t it?
Here’s the good news, you don’t need anywhere near 100 doors or properties to escape the rat race.
Too much focus on “scaling” can be a recipe for disaster. Instead, let’s get focused on a small win to gain proof of concept.
First, focus on learning what the realistic rent amount is for a property based on its current condition.
Not in rentable condition? Then you can’t pay a price that reflects it being in a rent-ready state.
How to do the math on this? Listen in to this episode to learn more on how to quickly break down the deal to determine a Go/NoGo