Today we are going to talk about knowing your numbers in the real estate game. There's a fine difference between gut and gamble, and most of that has to do with the experience of knowing your numbers.

Today we will cover why knowing your numbers is so important, and how to determine those numbers by setting a realistic ARV for the property. How to determine the after repair value and how to break those numbers down when real estate flipping.

Tim Murphy has a great story about fighting the reality of the numbers and going with a gamble.

And Bob has a great example of knowing your market so the big price you pay from a wholesaler is worth it.

Buckle up, we're talking numbers, and numbers will save your bank!

Ready to become a Value Driven Investor and Live Life On YOUR Terms? Then click here: www.ValueDrivenInvestor.com

2:16 Tim's story about ignoring the numbers. Then the gamble.

9:57 Bob's story about fighting the gambler and trusting those close to you

13:40 3 things you need to know as you start the process of crunching the numbers.

18:11 What is a ARV and why is it important?

20:52 What wholesalers need to know about ARV

25:40 The importance of passing along material and labor when calculating your ARV

32:00 Knowing your area. The number thing you need to understand -- the dynamics and value of your area

35:40 A tool to use to have a baseline for your numbers