BiggerPockets Book Club Real Estate by the Numbers- Part 1

[Alicia Marks]

Welcome to our first ever BiggerPockets bookclub! This will be a chance for us to talk about what inspired us, where we have questions, and how we can become more effective investors. Please note our forum rules (found on the right hand side on desktop) as you engage with one another. We will be focusing on one part of the book per week, with new discussions starting on Fridays. You don't need to answer every question, just some questions you may want to reflect on. Remember there is some bonus content to help you. Info on how to receive it is found on page 29.

This week we are discussing Part 1: Personal and Business Performance

Questions to consider: Do you currently have a personal and professional P&L?

                                         Are your business and personal expenses fully separate, co-mingled, or all together?

                                         How was what you thought your personal P&L would look like vs actual look like?

                                         What do you classify as liquid assets?

                                         How do you currently track business and personal finance? Pen and paper, your own sheets, app?

                                         Do you do a personal balance sheet?

                                         Are there any P&L metrics you include not listed in the book? 

                                         Which P&L metrics do you find most valuable in your business?

                                         When evaluating a property, what factors do you weigh first? Do you have a hard pass if it doesn't meet them, or do you make adjustments and continue to evaluate?

Looking forward to hearing everyone's thoughts!