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209 – Why The First $100 Matters
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