Behind the Beard | August 18th, 2021

Something I'm Reading:

This week is something a little different. I’ve been reading a poetry book called “Love Her Wild” by Atticus. I’ve never been into poetry, but I really enjoy this!

Something I Teach:

If you’re struggling to wake up earlier, eliminate any decision from your morning.  Lay out your clothes. Including shoes. Get your toothbrush ready. Have a large, full glass of water next to the bed. Put the alarm across the room. By the time you finish those things in the morning, your logical brain will be on. You can apply the same principle and practice to any habit you’re looking to establish.

Something Cool I Own:

I just bought these adjustable weight dumbbells which have been really cool. Best part is how much space they save when stored versus a full set. Pretty versatile and all I need for any home workouts!

Something I Photographed:

Each week I share a photo I snapped in the previous week. Sometimes serious. Sometimes random and funny. Maybe a selfie once in a while. Just because.

Me with the cover of the Multifamily Millionaire Volume 1! This book has so much content we had to make it bigger…okay maybe this isn’t the actual size of the book but it’s still loaded with lots of great content 😂

Something I'm Excited About:

My new book, Multifamily Millionaire Volume 1 and 2 is launching tomorrow! A handful of people from the BiggerPockets community got the advanced copy of the book and we’ve gotten some awesome feedback so far! Check out the video below. Pick up a copy if ya haven’t already 🤘

Each week, I'll be answering one question from someone on my BehindTheBeard Text List! Want your question answered? Submit it by simply replying to this text!

Something I Can Answer:

Question:  “How do you evaluate when you should sell a property?” -Doug E

I look at return on equity to determine when it’s best to sell. If I were to sell the property, how much profit would I actually make in cash that I can reinvest into a new project? That number (after paying back the mortgage, real estate fees, commissions, closing costs etc) I call my “equity”. I then look at what I’m making in yearly cash flow from the property. Then I divide my yearly cashflow by my equity to get the return on equity.

Yearly Cash Flow ÷ Equity = Return on Equity

If my return on equity is under 6%, I strongly consider selling.

Your Friend,

@BeardyBrandon

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