Mastering Real Estate Business Financials with Andy Mulholland | Ep 070

Andy Mulholland spent a decade building and running a successful real estate team. He and his wife, Ellyn, now run the books for many top real estate teams.He joins us on Real Estate Team OS to help you get a handle on your real estate business financials. Your P&L. Your net profit margin. And he does it by keeping things simple.Andy shares with you why we’re so focused on top line numbers, why we’re confused about our net profit, why me must align our economic model with our operating model (and what the three main models are), how to define our goal posts (not a specific target), why “reinvesting profits” is really just spending too much money, and more!Watch or listen for insights into:- Numbers as the purest form of communication- Why lifestyle was the spark for his real estate team- Three top takeaways from his team-building journey - Why we’re so focused on top line numbers like agent count, units, and volume- Three primary economic models (Teamerage, School of Fish, Shark with Feeder Fish)- Three reasons team leaders are confused about their net profit- Two questions to ask to help you understand the health of your business- Ways to think about direct and indirect expenses for a clearer picture of your bottom line- Two places a team leader is struggling if they’re not profitable- The three (maybe four) elements of Cost of Goods Sold or Cost of Sale- How and why to pay yourself as an agent before leaving production- How to pay yourself after you’ve left sales production (remember: Profit First)- Why “reinvesting profits” is really just “spending too much money”- What NAVY Seal teams or Schools of Fish must keep an eye on to continue to thrive in the futureAt the end, hear about a true team culture, an appreciation for Porsches, tractors, and old pickups alike, and hitting the road inn an RV.Andy Mulholland:- https://simple-numbers.com- https://www.instagram.com/andy_mulholland/Real Estate Team OS:- https://www.realestateteamos.com- https://linktr.ee/realestateteamos- https://www.instagram.com/realestateteamos/