Playing sports has taught me a lot about business. In sports, just like in business, there is a scoreboard which shows all the players and fans the score at any moment in time. In business there does not have to be “winners” and “losers” but there is a scoreboard with which a business measures results.
“Business is the ultimate sport. In business, as in sport, the one thing you can control is effort.” Mark Cuban
My loving wife has a hard time believing that I was an athlete in my student glory days of High School and College. If only camera phones were available back in 1998, I’m sure the video evidence would convince my wife that scoring lacrosse goals or winning the 400 meter dash that I was and always will be an athlete.
At Legacy Capital, our scoreboard shows the results of how we help our clients produce in their real estate game. From our company’s inception, we ask our clients what they want to achieve to understand how we can help you get where you always wanted to go. At our strategy session with clients when we ask about what the next few years would look like if you could have it go exactly as you wanted. We typically hear goals that fit into one of these three buckets:
Bucket # 1: “I Want to Flip “X” Properties Per Year”
Some clients want to buy, rehab and flip a certain amount of properties per year. This could be 5, 10 or 50+ properties per year depending on their experience and the infrastructure of their organization.
Bucket # 2: “I Want to Acquire “X” Rental Properties Per Year”
We have clients that measure their success by the quantity of rental properties in their portfolio or the amount of rental income generated each month. A portion of our clients are cash flow focused investors and use our funds for short term bridge financing. They can rehab properties to refinance with a bank to keep properties long term.
Bucket # 3: “I Want to Make “X” Profits Per Year By Flipping Properties”
For some clients, it is less important to do a certain quantity of deals and more important to generate a certain amount of profit for the year. The quality of the deal is far more important than the quantity of deals.
We are in the process of compiling our clients results in Bucket # 3 so we can share it with everyone on a anonymous. We hold ourselves accountable because Legacy Capital wins our game when our clients with their game.
As the total profit created in 2016 by Legacy Capital clients made possible by our funds and consulting are finalized including Q4 data. We will be reporting those figures to you.
We look forward to ending 2016 strong and helping all our clients win the BIGGER games created for 2017.