Fast Money > Long Rehabs

The more you can separate your time from money the better. And the less risk you can take on the better. That doesn't mean you shouldn't ever take on calculated risks, but if you can make money without taking on a bunch of unnecessary risk that's a much smarter way to run your business.

That's why I don't usually buy properties where the rehab is greater than or equal to the purchase price. If you've got a big rehab you need to do on a home, a lot of things could go wrong, there's 50 ways you could get screwed, so if I could choose between a home that I buy for almost free that needs 80k in rehab or a home that I buy for 80k that needs 20k in rehab, I'm choosing the 20k rehab every time as long the comps check out.

The compound effect that you see in investing in stocks also applies to your business. The sooner you make money, the sooner you can reinvest that money into more properties, marketing, salespeople, etc. which makes you more money than you ever would have made.

The only thing I will say is that on a long enough timeline if you’re only wholesaling or doing flips, you’re gonna pay a larger % in taxes overall and you’ll miss out on a beautiful thing called appreciation. Hustling for money is great when you’re young and have lots of energy, but eventually you will get older, so make sure you’re reinvesting at least some of your profits into a portfolio of properties or you WILL regret it!