As our business grows, we tend to complicate numbers, processes and the business as a whole. One thing that works for us is that each time we try to implement something new into the business we make sure that we go back to basics. Each time we purchase a property we implement new processes and ideas by using new charts, spreadsheets, use mobile apps, etc… but they don’t always work. The key is to always go back to basics and keep it simple. In our business we only care about 3 numbers. Purchase price, estimate for repairs and after repair value or market value. As I often say, the money is made on the purchase and collected on the resale or on the monthly rental income. The key is to master these three numbers and keep it simple. The simpler it is, the easier it is to analyze, make decisions, do more deals and make more money!

Camilo Palacio