3 Critical Metrics to Track Each Week as a Real Estate Investor

Author

Caleb Smith
July 22, 2023

Hey everybody!

Welcome to another edition of “The Financial Freedom Blueprint” where we discuss the topics of real estate and financial freedom.

My goal is to help as many people as I can get started investing in real estate and eventually reach a goal of financial freedom where they can create a life they don’t need a vacation from.

Quick story

For 2 years, I simply read books on real estate and listened to podcasts about real estate.

I thought that by reading and learning I would become successful.

Although that is important, it turns out you have to do more than read books and listen to podcasts if you want to become active in real estate.

It is the difference between being a wantrepreneur vs. an entrepreneur.

This is when I came across a great way to track your progress on a regular basis.

So today, I wanted to discuss 3 critical metrics that every real estate investor must track on a regular basis.

These 3 metrics are as follows:

1) Deals Analyzed

2) Properties Toured

3) Offers Made

The reason these three things are important is because each of them leads to the other.

In order to buy a property, you must first make an offer.

In order to make an offer, you will need to tour it. (Unless you invest out-of-state)

Before touring a property, you will have to analyze deals.

I like to think of it as a funnel. (See photo below)

If you want to attach numbers to it, it could look something like this:

In order to close on 1 property, you will have to analyze 100 deals, tour 25 properties and make 5 offers.

That is an example of course, but it gives you an idea of what is required to get properties under contract.

So anytime you become frustrated about not closing on anything in awhile, look back at this funnel and ask yourself these 3 questions.

1) How many deals did I analyze?

2) How many properties did I tour?

3) How many offers did I make?

I personally like to track these numbers on a weekly basis.

So when I review my week, I can either see that I didn’t make any offers or that I did.

Obviously, the weeks I make offers tend to lead to more deals when compared to the weeks where I don’t make offers.

To be honest, I still struggle every now and then with making consistent offers. However, it is required to close on deals and is a habit you need to create.

I hope today’s edition gave you a way to improve your systems.

I promise these 3 metrics will help you become an action-taker.

If you have any questions, let me know.

Otherwise, have a great weekend everybody!

Whenever you are ready, there is a way I can help you get started:

Active Investors

If you want to learn how to purchase your first investment property within 6 months, but don’t know what steps to take, please schedule a call with me using the link below to see if my coaching program can help.

The main strategy I teach is the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy.

I’ll help you minimize beginner mistakes and shorten the learning curve from years to months.

For Everybody

If you haven’t already, be sure to follow me on Instagram: @realestatewithcaleb

Disclaimer: My newsletter should be viewed as educational content and should not be construed as actionable advice without consulting the proper professionals.