2016 year reflection - How many deals did you do?

[Omid A.]

Hey BP,

As all of us are finishing the final quarter of the year and going into 2017, I've been reflecting on how my year went in 2016 and using that to determine adjustments/tweaks we can make to improve our business going into the new year. Although I had a great year in 2016, the goal is to double the number of properties we are buying/renovating/selling as well as break ground on our first new construction project. 

We closed on about one deal per month. I am in a higher priced market (250k-800k) compared to some of the cash flow markets out there and that generally also means higher margins... so with one deal per month I was still able to show a pretty substantial return on the PNL by year end. However, we have the resources and financing set up to do a lot more projects but the problem is finding the deals is no easy task these days. That is why the goal for next year is to, at the very least, double the number of houses we are buying. All of the deals we bought in 2016 were sourced in-house through our own marketing efforts. We will be doubling our ad budget next year to try to reach our goal of buying twice as many houses. I'm also planning on doing a lot more networking in order to meet new wholesalers, agents, and other professionals I can do potential business with, people who come across deals that make sense for a fix and flip investor. If you're in Oregon and want to network, send me a message! 

I'm interested in hearing about how everyone else's year went. How many deals did you do? Were they fix & flips, wholesales, rentals, new construction, etc? Please share.

Cheers BP to a great 2017 with a hopefully soft landing. :)