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Real Estate ARV | How to Find After Repair Value of a House

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Considering diving into real estate investing? You might have encountered the term real estate ARV (after-repair value). ARV, a significant measure in the real estate realm, is employed by both real estate investors and house flippers to gauge the potential future value of a property post-renovations. For seasoned investors, calculating ARV is pivotal for predicting a home’s future value, aiding in securing financing for necessary repairs. However, this method isn’t exclusive to experts—it holds tremendous value for regular homeowners seeking to enhance their property’s worth through strategic changes. Now, let’s delve into the intricacies of ARV and explore how you can leverage this valuable metric. What is ARV in Real Estate? Real Estate ARV, which stands for After Repair Value, refers to the estimated value of a property after all necessary repairs and enhancements have been carried out. This metric holds significant importance for real estate investors, particularly those engaged in property flipping. It quantifies the difference between an investment property’s current “as-is” value and the projected value it will attain once the renovation is complete. Are you curious about how fellow real estate investors determine this crucial value? Here’s a step-by-step guide on how to calculate Real Estate ARV. How to Calculate Real Estate ARV Imagine stumbling upon a distressed piece of real estate that piques your interest for a potential flip, whether you’re a wholesaler or a seasoned house flipper. Assuming the seller is sufficiently motivated and willing to part with their property, the next crucial step is to assess whether the deal holds the promise of profitability. The first order of business is to calculate the ARV of the property. It’s crucial to note, especially if you intend to fix and flip, that understanding market conditions and the expected quality of homes is paramount. This insight prevents over-repairing, ensuring that potential profits aren’t diminished. For those in the house-flipping business, ARV is indispensable. It serves as the compass guiding your investment decisions, revealing the expected selling price post-renovation. This, in turn, informs your purchase price and dictates your budget for repairs. If you’re a wholesaler, ARV carries even more weight. It is essential for the same reasons mentioned earlier and becomes an integral factor when dealing with potential investors. Most investors you aim to flip the property to will inquire about the ARV, wanting to review the comparable properties you’ve assessed for the investment. So, how do you calculate ARV? It’s simply: ARV = (Property’s Purchase Price) + (Value of Renovations) How to Find Your Max Bidding Price Now you have the ARV of the home you’re considering buying. For the sake of simplicity, let’s assume that you set the ARV of the home at $200,000 after running comps. The first thing to consider is what real estate investors call the “70% rule.” It means that house fix-and-flippers try to pay about 70% of the ARV of a home minus the repairs needed. This gives them a healthy 30% profit and ensures they can afford any unexpected repairs and still make a profit. What Investor Will Pay for Home = (ARV x .7) – Cost of Repairs Assuming that the cost of repairs for the home is $20,000, here’s what that formula looks like using our $200,000 ARV example. $120,000 = ($200,000 x .7) – $20,000 In this case, the 70% rule says the investor should pay about $120,000 for the home to make a 30% profit (about $60,000). Not every fix-and-flipper follows this guideline, but it’s a good rule of thumb to pay attention to. If you’re fixing and flipping homes, you’ll want to consider the 70% rule when … Continued

EP 136: Planning An Epic Year: Make 2019 Your Best Year Yet!

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Listen to the CarrotCast Podcast and Subscribe Below! Don’t be so busy following other’s lives that you forget to be the author of your own. Trevor Mauch, CEO of Carrot In this annual planning call, Trevor is giving away his frameworks and strategies that helped Carrot land #699 the Inc. 500/5000 list this year – the ones he is using every single day personally, and in business. Watch the video at Carrot.com/epic/replay and skip ahead to 23:15 to get started! What we’ll cover: My 2018… the key things I learned, won, and lost. Why Goals and Resolutions often don’t work (and what DOES work for me). My 5 “F’s” exercise to diagnose the spots in your life you need to focus on the most. Some mindset things that worked for me in 2018. Creating a clear, exciting, and compelling vision for your life. My 1-page Annual Strategic Plan. How to create habits that stick (without setting goals). How an ancient Japanese concept called “Ikigai” changed my life. Listen to the CarrotCast Podcast Planning An Epic Year: Make 2019 Your Best Year Yet! 23:15 – Getting Started. 29:35 – What motivates entrepreneurs over time. 39:15 – My entrepreneur journey in a nutshell. 41:50 – My 4 step process to an epic year. 56:38 – Take a quick test on the 5 F’s: Fitness, Family, Friends, Financial, and Faith. 1:02:18 – How a lack of urgency is one of our biggest problems and the best fix for it. 1:48:21 – The ancient Japanese concept called “Ikigai” that changed my life. 1:52:58 – The 3 Step Personal Power Process: The Dreams Worksheet & 15-minute Energy Audit. 2:00:52 – The entire annual, quarterly, and monthly planning process we follow at Carrot.   ADDITIONAL CARROTCAST EPISODES How Audacious Goals Can Cause Failure | Bringing Your Targets Closer To Win: CarrotCast How to Establish Power Habits in Your Life w/ Geoff Woods, Vice President of The ONE Thing: CarrotCast Flowers For Other Grandmas: The $100 Giving Challenge: CarrotCast FREE RESOURCES FOR YOU! Download all of your free resources + the slides from the call here: https://carrot.com/epic/replay/ Watch Tony Robbins’ –“Stay Hungry” Sean Terry of Flip2Freedom’s Wholesaling Scorecard Follow @trevor.mauch on Instagram Check out our blog! Check out our podcast! We want to hear how we can make our products better and what we can do to help you! Drop them in the comments section below or hit us up on Facebook or Instagram

EP 135: New Year’s Resolutions Are For Suckers – Do This Instead

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Listen to the CarrotCast Podcast and Subscribe Below! To make habits stick, the change has to happen in our minds, not in our schedule. Once it happens in your mind, your schedule will then follow. Trevor Mauch, CEO of Carrot We’re bringing you a micro-episode of the CarrotCast just in time for the new year. I’ve talked a lot over the past few years about the power of visualizing your future and changing your habits to become the person you want to be. This is something that I’m really passionate about and I’m convicted that if you want to make those changes in your life, it needs to happen today… not tomorrow, or on New Year’s Day. I wanted to get personal in this episode and share a couple of my own stories so that you can understand how this mindset has completely changed not only my life, but my wife’s, my kid’s, and even some of our members. Listen to this quick episode and then hit me up on Instagram. I want to hear how it impacts you. Also, don’t forget to join me Dec 29th at 9:00 for my free annual EPIC planning call at Carrot.com/EPIC. I’m grateful to get to serve you and I’m super pumped about crushing 2019 with ya’ll! See ya soon! Listen to the CarrotCast Podcast New Year’s Resolutions Are For Suckers – Do This Instead   “Who do you need to become to lead the people in your life that are counting on you?” “To make habits stick, the change has to happen in our minds, not in our schedule. Once it happens in your mind, your schedule will then follow.” “Forget about January 1st. What will you do today to become the person you need to be?” “A lot of us are brought up into the mindset of – we work so then we can get money to put in the bank, then we can retire, then we can finally enjoy our life. But, that’s backwards. The work should be the enjoyment that fuels your passion and helps you make the impact.”   ADDITIONAL CARROTCAST EPISODES My 2018 Year-End Review and How We’re Growing in 2019 Carrotcast How to Establish Power Habits in Your Life w/ Geoff Woods, Vice President of The ONE Thing: CarrotCast You Need to Escape the Daily Grind Before You Regret Being an Entrepreneur w/ Trevor Mauch: CarrotCast  FREE RESOURCES FOR YOU! Follow @trevor.mauch on Instagram Make 2019 Your Year! – Join us for “Planning An Epic Year: Make 2019 Your Best Year Yet!” LIVE Saturday, December 29th @ 9:00 AM Pacific (12:00 Eastern) Can’t make it? No problem! The call will be recorded. Check out our blog! Check out our podcast! We want to hear how we can make our products better and what we can do to help you! Drop them in the comments section below or hit us up on Facebook or Instagram

EP 134: My 2018 Year-End Review and How We’re Growing in 2019

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Listen to the CarrotCast Podcast and Subscribe Below! Habits create the person you want to become. Trevor Mauch, CEO of Carrot It’s been a really interesting year. This is the year that I’ve probably had to grow the most personally. As the team grows, you really start to look at yourself and go, Man, The main bottleneck of growth in the company is you as the CEO. If you’re not growing faster than the pace of the company, then you’re gonna hold the company back. So, for me, there were spots where the company was growing fast and it could grow faster but the problem was I really needed to up-level the way that I lead. So in this episode, I’m going to recap my year for 2018 and some of the lessons, the key lessons, that I learned. Listen to the CarrotCast Podcast My 2018 Year-End Review and How We’re Growing in 2019 03:00 – How you as a leader or CEO might be a bottleneck as your team grows. 04:59 – Invest in yourself: Hiring leadership coaches and finding mentors. 07:29 – Trevor’s personal life: Crushing health and fitness goals & how to get rid of afternoon crashes and wake up feeling energized. 13:58 – What I failed at and learned from in 2018 and how I plan to grow in 2019. 19:42 – Forming better habits and routines to become the person you want to be. 20:32 – My personal morning routine. 27:12 – The Carrot Give Program and how we’re changing lives in our communities. Check out Carrot.com/GIVE 28:31 – Take action on who you want to become in 2019. Join Trevor for his annual EPIC planning call. It’s totally free. Carrot.com/EPIC ADDITIONAL CARROTCAST EPISODES How Audacious Goals Can Cause Failure | Bringing Your Targets Closer To Win: CarrotCast How to Establish Power Habits in Your Life w/ Geoff Woods, Vice President of The ONE Thing: CarrotCast Flowers For Other Grandmas: The $100 Giving Challenge: CarrotCast FREE RESOURCES FOR YOU! Take the Kolbe Assessment Follow @trevor.mauch on Instagram Make 2019 Your Year! – Join us for “Planning An Epic Year: Make 2019 Your Best Year Yet!” Check out our blog! Check out our podcast! We want to hear how we can make our products better and what we can do to help you! Drop them in the comments section below or hit us up on Facebook or Instagram

6 Common Mistakes of Google Ads Automated Bidding for a Motivated Seller Campaign

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Like a gambler to the slot machine, you press “Start” on your Google Ads campaign. Every day, you check the dashboard. A few clicks, even fewer conversions, and one measly phone call. You’ve already gambled away several hundred dollars with nothing to say for it. Every day, you get more nervous, receive fewer clicks, and waste more money. Until eventually, you turn it off – Ah! This doesn’t work. Take heart – that’s not the story for every Google Ads campaign. I’ve personally run Google Ads campaigns that sport a life-changing $300 to $1 ROI. But it is the story for many Google Ads campaigns… There has been a push in what has been recommended (mostly by Google) in the approach to your bidding strategy. Traditionally, we’ve been sworn into a manual bidding method based on bid matrixes factoring in ad position, performance, market location, and trends. Despite how successful these methods have been over the past 5 years, the frequency in which we’ve seen our members embrace (at the request of the assumed “authority”) automated (robotic) bidding has increased significantly. For some, this openness to automation has provided incredible value for their clients. For others, the results were underwhelming. If you find yourself in the same boat as the latter, it’s possible that your motivated seller Google Ads campaign is simply not a good fit for automated strategies. And trust me, I understand there are certainly a lot of Reasons To Not Use an Automated Bid Strategy. Before admitting defeat, make sure none of the following mistakes exist in your strategic implementation. … Budget control is a huge component of the success of your Google Ads account. Not only from automated bid strategies but obviously, with manual strategies as well. 3 (Google Ads) Automated Bidding Strategies for a Motivated Seller Campaign That You Need to Know Target CPA (Cost Per Acquisition) This might be the most recommended automated bidding strategy right now. Most Google Ads Strategy Specialists are pushing this one onto its members. But, this recommendation is usually without merit and data to back up the suggestion. So, what is Target CPA Bidding? Target CPA bidding optimizes your bids so you can get the most conversions, hopefully, for a target cost-per-acquisition that you set as a goal. Google explains it as… Using historical information about your campaign and evaluating the contextual signals present at auction-time, Target CPA bidding automatically finds an optimal CPC bid for your ad each time it’s eligible to appear. Google Ads sets these bids to achieve an average CPA equal to your target across all campaigns using this strategy. Some conversions may cost more than your target and some may cost less, but altogether Google Ads will try to keep your cost per conversion equal to the target CPA you set. These changes in CPA take place because your actual CPA depends on factors outside Google’s control, like changes to your website or ads or increased competition in ad auctions. Additionally, your actual conversion rate can be lower or higher than the predicted conversion rate. For example, if you’ve found that it takes 15 Google Ads leads to close a deal and therefore you can pay up to $3750 to acquire a deal you might be willing to set your target CPA at $250. Basically, you’re telling Google you’re willing to pay $250 per lead to get 15 leads. Google works to do it’s best to optimize your bids to reach that goal. Now, Google Ads will use historical data, along with contextual signals such as device type, time of day, physical location, remarketing lists, and browser types … Continued

EP 126: When Is Enough… Enough? (My Thoughts on the Dangers of Ambition)

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Listen to the CarrotCast Podcast and Subscribe Below! Don’t feel guilty for being in a phase of your life that you’re following YOUR goals and not those of others. Trevor Mauch This topic FIRES me up! We’re now about two years into the CarrotCast and we’re so grateful of our audience and the impact that we’ve been able to provide. This impact was touched on recently when I was talking with one of our Carrot members. There was a question during the conversation that hit me at my core… The question of “when is enough, enough?” We all have ambitions. We all have the drive for more. But, when does that get out of hand? My initial goal when I first started out was to make $4k per month. But, over time, my aspirations, motivations, and standards changed. Luckily, my path has taken me personally and Carrot on a journey to impact the lives of others. But, there are those who what that next higher level while either losing their purpose or never having one in the first place. They get the “not good enough” disease. Whatever they have or do just isn’t good enough anymore. On this episode, I want to help cure that mindset. I want to help our audience get over the need for validation. It’s time to switch that mindset to truly feel your work is making a positive difference in the lives of others. If you’re not waking up each day and feel excited and fired up to help not only your life but the lives of many, many people, then you’re most likely in the enough is enough phase. Listen in. Start enjoying yourself and put to use the finances, freedom, and flexibility that you’ve worked so hard to achieve. Enjoy and be sure to hit us up on Facebook, please give us a rating on iTunes, watch other episodes on YouTube, or read the Carrot blog and share your thoughts. We’d love to hear them! Listen to the CarrotCast Podcast When Is Enough… Enough? (My Thoughts on the Dangers of Ambition) 1:50 – Striving for positivity and ambition. 2:55 – When is enough, enough? A brief backstory into Trevor’s early career ambitions and simplicity. 5:05 – What happens with the bar changes and you feel a need to shoot higher and think bigger? The “It’s Not Good Enough” disease. 7:10 – The dangers of ambition and the situation of pushing through goals and working or wanting more. 8:15 – Enough is enough when… What you do fires you up every day. You’re not chasing income and you’re not chasing someone else’s goals. 10:50 – Homework Assignment: Write down the initial goals you set before getting to where you’re at now. Then write down where you’re currently at. This can be a great reminder to either take a step back and be happy with what you’ve accomplished or to ramp up a bit again. 12:55 – Trading freedom for making a greater impact. 16:00 – The mindset around having a new spark to ramp up and do bigger things. LINKS TO ADDITIONAL RESOURCES FROM THIS EPISODE The Secret To True Happiness For Ambitious Entrepreneurs w/ Seth Buechley: CarrotCast Working Too Much And Profiting Too Little? I Interview My Favorite Author Mike Michalowicz: CarrotCast Traveling The World While Investing + Interns Closing Deals w/ Justin Lee: CarrotCast FREE RESOURCES FOR YOU! Check out our blog! Check out our podcast! We want to hear how we can make our products better and what we can do to help you! Drop them in the comments section below or hit us up on Facebook.

Not Getting Leads on Carrot’s Core Plan? This is Why and How to Fix It

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Carrot’s $69 per month Core plan does many things right… It gives you a tried-and-tested high-converting Carrot website, several custom SEO gadgets, and even a taste for our campaign tracking software. And that collection of goodies works exceptionally well… In the right market. If you’re in a market where competition is low and you only want to do 1-2 deals every few months, then our Core plan is great for your side-hustle business. If, however, you’re in a competitive market and you’re trying to grow a thriving, successful 3, 4, or 5+ deal-per-month business, then the truth is… You’ll be disappointed by our Core plan’s performance… When we created our Core plan, we invented it for the starting investor in a low competition market. Unfortunately, many of you – in high-competition markets with ambitious business-growth goals – are signed up for this plan… And you’re not getting leads you expected… Why? Well, there are 4 reasons, in particular. 1. Carrot’s Core plan doesn’t offer monthly blog content packs… I don’t need monthly blog content, you think to yourself, I already have a high-converting Carrot site… what difference will blog posts make? The answer is simple. Every piece of content that we deliver to our customers is optimized to rank for high-value keyword phrases in search engines. Which means that each piece of content gives your website a new opportunity to rank in Google and drive traffic to your website. According to Neil Patel, across industries, “Year-over-year growth in unique site traffic is 7.8x higher for content marketing leaders compared to followers (19.7% vs 2.5%).” More content = more traffic. But it doesn’t just mean more traffic. It also means more leads in less time and with less work. In fact, having content on your website builds trust with prospects and solidifies that you’re an expert in your market. (Image Source) And while content marketing isn’t all that important when running a side-hustle business in a low competition market, it’s absolutely paramount for ambitious business goals in competitive markets. Now, you could blog every week (4 blog posts per month) and assuming that each blog posts takes you about 4 hours, that’s 16 hours of your time every month for just 4 blog posts. Or you could hire a private writer to do it for you and pay at least $50/article. If you want to do 4 articles every month, that’ll cost you $200 for not much SEO impact. Orrrr you could upgrade your Carrot plan and get more bang for your buck – our Content Pro plan offers 12 blog posts every single month and our Advanced Marketer plan offers 12 Content Pro blog posts plus 12 Premium blog posts every month… and you only pay $50 or $100 more per month than you’re paying right now. Upgrade your Plan to Automate Content Marketing and Increase Website Traffic and Leads  *Not a Carrot Member? Sign up Today!* 2. Carrot’s Core plan doesn’t offer weekly coaching calls… What can a coach teach you that you don’t already know? Do you really need a coach? The answer is yes. Regardless of where you’re at in your business, what you’re trying to do, or how ambitious your goals are, you need a coach. Everyone does. Why? Because having a coach helps you grow. If you keep doing what you’re doing and thinking the way you think, how will you ever grow? The answer is… you won’t. You’ll stay where you are right now. Consider, for instance, the average results of people who hire a life coach… (Image Source) Are you happy with where you’re at right now? If not, you need a coach. But, what exactly are … Continued

EP 124: Max Maxwell + Tony Robinson Unplugged: The Struggles, Lessons, Failures, and Keys That Led to a Multi-million Dollar Real Estate Business w/ Trevor Mauch

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Listen to the CarrotCast Podcast and Subscribe Below! We had no advantages. We had ups and downs just like everybody else. I think that’s what you know a lot of people in this real estate game don’t show that other side of the downside and we stuggle everyday. I mean it’s not easy. Max Maxwell What’s up CarrotCast community. It is the end of a week right now as at the time I record this. I’m actually getting ready to head out to North Carolina and Tampa on Sunday for my last, last, last trips of the year for business. It’s been … It’s definitely been cramming a lot of stuff in this past month and a half, it’s been all amazing stuff. Just meeting a lot of amazing people. I’ve talked about it in recent episodes of the CarrotCast and different masterminds and high level. I’ve been in boardrooms with two multi-billion dollar companies, their CEOs, different masterminds with just amazing, amazing people. Speaking of North Carolina, the guests I’ve gotten today’s episode of the CarrotCast, they were actually out here from their home in North Carolina. They were here at CarrotCamp and it’s actually Max Maxwell and Tony Robinson. Max and Tony had been friends for … Shoot for decades and are going way, way, way back. I think everyone in the industry knows that Max has been kind of taking the industry by storm with his YouTube channels, podcasts, his Instagram following. He’s just building a big, big, big movement. And it’s cool. I love seeing what he’s doing because he’s just sharing what he’s doing as an investor. And originally the whole aim was hey, how can I get from $20K a month to $100,000 a month? And he passed that, and here at CarrotCamp, he’s talking about doing some amazing, amazing things. They’re already doing crazy, crazy great things. Anyway, we had a chance to kind of, hole away at CarrotCamp in my office, I pulled them to the side and I said, guys, everybody knows Max’s journey from the past two years. Everybody knows how he was broke and how he dove in and started tackling real estate investing and really nailed cold calling and really nailed PPC with Carrot and is doing great. Everyone knows that story. But, one thing that hasn’t been told is the backstory before that, what happened 10 years, 20 years prior. What happened with their relationship? How did they get to know each other? And how did they support each other through the ups, through the downs? So we sat down for this candid interview going all the way back to when they were 12 years old and they met, and through the struggles, through a jail stint, through both of them going broke at times, but opposite times through Tony making millions and then losing it all and going to jail. It’s just crazy, crazy things during the story, but the cool thing I want you to guys to notice is what made these guys who they are today. People see the success of the past two years as instant, just overnight success, but it wasn’t. It was success decades in the making and I’m insanely proud to sit down with these guys, they’re making an impact, so proud to call them a Carrot customer, Carrot member, Carrot client, and I’m just pumped to be able to see them again and see the impact they’re going to make on more people. So listen in to this candid conversation with myself, Max Maxwell and Tony Robinson, his business partner, as … Continued

The 6 Rules of High-converting Real Estate Landing Pages

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Your real estate landing pages could be costing you $10,000, $20,000, $50,000. That’s only one lost deal. Relative to other popular 21st century industries (e-commerce, info product selling, affiliate marketing, etc) real estate is unforgiving. In many of those other industries, one lost deal might amount to $10 or $1,000 lost. But in real estate, players tackle each other on the pavement… Without knee pads… Or helmets… Or teeth guards… You get the point – one lost deal hurts. And it hurts bad. But, that also means that one gained deal has an equally massive impact. And the fewer deals you lose to savvy market competitors, the more deals you gain. In other words, you can turn that lost-deal dilemma into massive cash flow by transforming your real estate landing pages from an underperforming duds into a visitor-converting machine. This is exactly why I’m going to show you how to optimize your real estate landing pages for conversion. Follow these rules in your own market. But first, a quick note about why your website isn’t converting as you want it to (the answer is simpler than you think). What are Real Estate Landing Pages? A real estate landing page is a standalone page, created specifically for a marketing campaign. It’s where a buyer, seller, or partner “lands” after they click on a link in ads, emails, or possibly organic SEO rankings. The anatomy of a real estate landing page is pretty simple.  You might be thinking: Is there a specific design that always works the best? How can we tell if a landing page is really working well? What do I use to build my own real estate lead pages? First, no, there isn’t a specific design that always works the best.  What works really well for your real estate business and your market may not work as well as another design (or message) on another real estate website.  But, there are elements that usually work well. A clear and concise headline at the top of the page A short description of what they’re about to get in exchange for their email address A few bullet points listing out benefits of what they’ll get when they “opt-in” An opt-in (a box where people can put their information in and submit it to you) Really, those are the only elements that are extremely important and pretty much are needed on any landing page. Yes, you can use pictures and videos. Definitely test the video versus just the text with no video because you might find the one with just the text converts works better. Are Your Real Estate Landing Pages Missing the Mark? Someone arrives on your website… Let’s imagine that they’re your ideal client. They need the service you offer, they’re motivated, and they’re just looking for the right person to work with. After all, selling or buying a home is a big decision and they don’t want to make a mistake. So they’re browsing around your website. One of two things will happen in the end. They’ll leave your website and find someone else to work with. They’ll work with you. Those are the only two options. Assuming that this person needs your service, they’re going to work with someone. Only one question remains to be answered, then… Will that someone be you? Or will it be your competitor? How will that person make a decision? Well, someone who needs your service – a motivated buyer or seller – is going to ask only a single question: Why should I work with you? That is the same question that builds empires… And topples monopolies… For instance, as Forbes reports… “45% [of consumers] said they have found something … Continued