How Using a Score Card Can Keep Your Real Estate Business on Track

How Using a Score Card Can Keep Your Real Estate Business on Track

2 min read
Brett Snodgrass

Brett Snodgrass is CEO of Simple Wholesaling and has been a full-time real estate investor for 10+ years. He specializes in wholesaling, wholetailing, creative financing, and scaling a business from a one-man band to an amazing full team running 100s of deals per year.

Brett has extensive knowledge and firsthand experience in several facets of real estate investing. He is an investor in Indianapolis (who loves being a hoosier) and works with investors all over the country who want to invest in one of the top-rated cash-flowing markets in the nation—that being Indy.

Experience
Brett’s amazing team buys and sells 300+ properties per year and builds passive streams of income by creating 50+ creative financing deals per year. In a five-year timespan, Brett has gone from a one-person team to a full-time staff of 10+ team members and has tripled his deal flow.

As a man of faith and a real estate investor, Brett combines both to bring opportunities to everyone he encounters while spreading the kingdom of God. This is his mission and the purpose behind his company Simple Wholesaling. He has a passion for helping others in business and personal growth.

Brett also enjoys spending time with his wife Karen and his four young children, in addition to taking mission trips and serving others through his faith.

Press
Brett has been featured on several podcast interviews, including two BiggerPockets shows—BiggerPockets Real Estate Podcast #231: A Simple Strategy for Doing 25 Deals a Month and the Best Deal Ever Show #10 With Ken Corsini: Substitute Teacher Makes $80K on First Land Deal. He has also been a guest on dozens of other podcasts, including Wholesaling Inc. and FlipNerd.

For the past several years, Brett has also hosted his own show called Simple Wholesaling Podcast with Brett Snodgrass, as well as a local meetup in Indianapolis, the Wholesaling Made Simple Meetup. He is a sought-after speaker who has given key presentations on topics ranging from scaling a real estate investing business to developing a purpose behind the business. He loves to give back all the blessings that God has given him.

Accreditations
Brett is an Indiana real estate broker and a member of two prestigious real estate mastermind groups, Collective Genius and Multipliers.

Follow
Instagram @simple_wholesaling
Brett’s Facebook
Simple Wholesaling Facebook
SimpleWholesaling.com
Brett’s LinkedIn

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What’s up, BP? I hope business is great and life is full of fun and adventure.

Today I want to talk about something we’ve recently implemented in our wholesaling business that is really making a HUGE difference.

You know, real estate is a lot like sports. Getting to your target income goal is a lot like preparing for the championship game.

And you know, just like sports, getting to the “championship” in real estate takes a lot of time, commitment, and tracking.

In sports growing up, I always remember our basketball team kept a wins and losses column to help us track whether we had a shot at the championship game or not. We also had to track all of our game scores, our drills at practice, and a number of other items in order to help us determine where we stood compared to where we needed to be.

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Related: Why All Entrepreneurs Should Track Leading Indicators (With Examples!)

Wholesaling is the Exact Same Way

Recently, I’ve started having my team fill out something we call a “score card” each week, so that we can clearly see where we stand compared to our target income per month.

With it, we’re tracking everything. How many people we talk to, how many showings we’re doing, what our closing ratio is — everything!

It’s revolutionizing our business, and I have confidence that it will do the same for you.

You know, this whole business is simply one big numbers game.

In my business, I know because of our score card that we get about one deal for every 1,000 letters we send out in direct mail.

But if I hadn’t tracked that, I would have never known and would be taking a shot in the dark each time.

If your goal is to do 10 deals a month, but, say, you’re only putting out 5,000 letters, you’d miss it! You’d only get half — but how easily would it be if you weren’t tracking to think, “Five thousand seems like a lot — I’m sure to get the deals I need from that! I mean, shoot, 5,000 is about $5,000 in direct mail!”

But if you only send out 5,000 and your goal is 10, and you end up only with five — it’s not the letters’ fault!

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Determining Where Your Business Should Go

In your business, you have to track in order to determine your ratios and your patterns so that you can determine your plan of action for your target goals.

Related: 5 Direct Mail Metrics Every Real Estate Investor Should Track Religiously

It’s like running drills at practice. Keeping score shows you what areas you need to work on and determines what “drills” you need to run in your real estate business in order for you to finally be ready for your championship.

Keeping score and tracking everything in my business has really helped us begin to make more gross revenue than I ever have consistently in the past.

We have data to determine what needs to be done, and if you do the same, I promise you that in a few months your business is going to look drastically different.

Entrepreneurs: How do you keep track of your business’s stats?

Let me know with a comment!