How do you count your deals?

[Will Barnard]

Hello BP Nation. I have a qucik question for ALL of you and even newbies with just one or two deals can answer.

How do you count your deals?

I have run into a few investors who claim to have done X amount of deals, but when asking a few questions, I determined that they count them, different than I do. That stated, I wanted to know which way the consensus falls on.

Example: If you own 10 rentals, then that is an easy number to count. You have done 10 deals.
But what about flippers. If you buy a property, then fix it and sell it, have you done one deal or two? You closed on the buy side, then you closed on the sell side. That is two transactions, but the same property. In such an example, how do you all count it?

- Will Barnard

[Sharad M.]

Will,

I count each property as one deal.

For rehabs, IMHO, it would be incorrect to consider a fix and flip as two deals. Objective of a fix and flip is to purchase a property, fix it, and then resell it to an end buyer.

If I purchase a rehab property and I count it as a deal, then it's incorrect because I haven't finished what I intended to do with that property, which is to sell it.

If I buy 10 rehab properties, fix them all but never sell them, I can say I have done 10 deals, but I have ZERO money to show for those deals. For rehabs, until the property is sold, the deal is in progress.

It's late and I am a little tired, so I hope it makes sense.