July was the worst month we’ve had in a while. Of course, it directly followed the best month we’ve ever had (June $729,254).
We finished out the month of July with a total revenue of $183,448. This is the lowest revenue total we’ve had this year, and it kind of messes up my numbers. 🤣
The gross profit for the month was $69,212. This is a 37.72% gross margin. This is also not as high as I’d like to see it, but it’s something to strive for in the future.
June was a GREAT month for us!
In fact, it was our best month yet! We brought in revenue of $729,254 in land flips in June. This is the total of all the sales.
We just barely beat out our revenue of $728,000 in January, but I’ll take it!
I was also very happy with our gross profit, which totaled $277,644!
This equates to a 38.07% gross profit margin. 40%+ is where I’d like to be, but we were pretty close.
May was a pretty good month. We brought in a total of $453,064 for the month. This was a little below average but still a solid month.
Our gross profit for May was $179,149. This is our direct profit on the properties we sold in May. It does not include our other expenses in running our business.
That equates to an average gross profit per deal of $35,829.94. This is a substantial improvement from our historical average and recent months. So far this year, we have been averaging over $23,000 per deal. I hope this trend continues!
Well, this wasn’t my best month. In fact, it was a big disappointment.
The revenue was much lower than we anticipated. Yes, $207,164 is a lot of money, but based on the trajectory and track record, I would like to see this much higher.
The gross profit for April was $67,131.47. This is a sizeable amount of profit, but not nearly what I need it to be at this level.
Deals falling out of contract are a normal part of real estate investing and land flipping. While it’s frustrating when this happens, it’s to be expected that a certain percentage of your deals will fall apart for a variety of reasons.
March was a pretty good month!
We didn’t top our record-setting January, but we weren’t too far off with $674,265 in revenue for March.
The gross profit for March was $275,156, which I’m pretty happy with!
The average profit per deal was $27,515, a good step from the norm. Last year we averaged about $22,000 profit per deal, so I’m happy with this increase.
I had high hopes for February, but it fell a little short.
But, can I really be upset about $464,159 of revenue? Not really.
Our gross profit for this month was pretty healthy as well. I obviously would like this figure to be higher, but for 7 sales this was pretty good.
We averaged $23,821 in gross profit per deal this month. This is slightly above our historical average. I’m hoping to push this figure higher as we do a lot larger deals going forward.
January 2023 was our best month ever!
For awhile there, I thought we were going to hit our first million dollar month. It wasn’t meant to be because I had a couple deals fall through and a couple more got delayed.
The revenue of $728,137.29 was a big milestone for our business and now I’m confident that a million dollars a month in revenue is well within our reach.
We did over $250,000 in gross profit in January. That breaks down to $8,081.43 in gross profit per day. Not too shabby!
Starting with revenue, we generated $3,474,800.60 in 2022. That’s the money that hit our bank account after paying all closing costs and commissions.
The gross profit which was $1,533,448.33 in 2022. Gross profit is the amount of money we receive in revenue minus the amount we paid for the property.
That means that our gross profit margin was 44.11% for 2022. Our goal is to double our investment dollars each time we buy a property.
Overall December 2022 was a pretty solid month. Most of the metrics were a little below average for this month.
I made a big push at the end of the year to try and clear out inventory that had been on the books for too long. This meant lowering the prices until they sold.
As a result, the average profit per deal and the average days in inventory really got skewed for the worse.
November was a really solid month!
Our revenue was well above our average for 2022 and on a path to bigger revenue in the future.
If broken down to a daily amount, that would be $14,678.96 per day.
The average profit per deal this month was $23,717.54. That means that we made this much (on average) per property sold.
Overall, October 2022 was a pretty average month for us. It’s funny, but most of the metrics for this month fell within the running averages for 2022 as a whole.
The October Revenue of $275,462.13 breaks down to $8,885.88 per day. Of course, the revenue doesn’t come in daily. Instead, it comes in lump sums as we close each deal.
We averaged $21,407.28 in gross profit per deal. This is the difference between what we sold a property for minus what it cost us to purchase that property.
Another solid month brought our total 2022 revenue up to $2,502,496.06. That’s an average of $278,055.12 per month. At this rate, we’ll end up at $3,336,661.41 for 2022. I hope to far exceed that, but we’ll see how it goes.
Our gross profit of $1,138,207 is an average of 126,467.44 per month. At this same rate, we would end up with $1,517,609.33 in gross profit for 2022.
Our average days in inventory is creeping up above 60 days now. My goal is to keep it below 60 days, so we’ve got some work to do in order to close out the year strong.
Let’s start with the revenue of $322,223.92. This is above our 2022 average so far and I want to keep this trending up. If you break it down to a daily number, we took in $10,394.32 per day!
Gross profit was great in August at $153,500! That’s a 47.64% gross profit margin. I’m always shooting for 50%, but we’re really close this month.
Our sales of 7 properties this month were pretty strong as well. I can see the trend going higher and higher in this category and I think we’ll be able to hit an average of 10 sales a month pretty soon.
Our revenue this month was just shy of a half a million dollars. That’s the actual money that was wired into our accounts from the properties we sold. This was our best revenue month ever! July just beat out March of this year to take the title.
Our gross profit this month was a very respectable $188,100.00. This was a 37.9% gross profit margin which is actually below our average. My goal is to hit 50% gross margins on average, so this falls below that. I can’t complain though. This margin would sufficient to sustain a healthy and growing business.
The revenue for June was less thank I had hoped, but it’s still a pretty impressive figure when you consider that we sold our very first land flip a little over a year ago. The reason that the revenue is not that high is because many of the properties sold this month were lesser value properties.
Our gross profit per deal was well below our previous year to date average of $25k. $11k profit per deal is not a horrible thing, but it is underperformance based on the standards I’ve established and the averages I’ve been able to achieve so far in this business.
I am very happy that we were able to send out almost 100,000 mailers this month. This costs a good amount of money now (about $50,000), but I know it will payoff in future months.
The revenue figure of $208,782.57 is below our average for the year. The big reason for this lower than average number is the fact that we only closed 3 deals. A couple of the deals that were supposed to close in May have been pushed back to a June closing. Assuming they close as planned, I’m looking forward to a big revenue number for June.
Overall, the gross profit was $84,500 which is a pretty substantial number.
Plus, when we have more leads, we can be choosier about the deals we move forward with. There is no reason to move forward with marginal deals as long as we have an abundance of leads.
Revenue (total income) for the month was was $264,322.07. This averages out to about $8,811 per day. While I’m always looking to do more, this is pretty good. Especially when you consider that we sold our first property using this model just over 1 year ago in March of 2021.
Gross Profit was a really solid $129,500. This amount of gross profit allows us to reinvest into more inventory and also send out more pieces of mail as well.
We sold 7 properties this month which is above average. I want to get to 10 sales per month in the near term and this is a big step in that direction.
March 2022 was an exceptional month all around and I’m here to show you why!
This was our best revenue month ever taking in $479,193.91. Thats’ a pretty good chunk of change and helps make up for last month’s subpar performance.
The gross profit was a record as well. At $262,000 per month, it was a 54.68% gross margin for the month. We’re normally hovering around 45% gross profit margin.
The income this month was so low because of a number of factors.
The biggest issue is that we only closed 1 resale. That’s well below the 5+ properties that we need to be closing to generate the type of revenue that we want.
A number of the properties that we have under contract to be resold have either been delayed or are due to close next month. That’s ok though. I’m projecting March to be a really good month that will hopefully help erase the bad stigma.
It’s a constant challenge building up your inventory in this business, so having more properties to sell could have definitely helped in avoiding this type of month.
I can’t complain about the revenue figure. This has been our second best month yet. While I’ve got goals to go much higher than this, I’m happy with this for now.
The gross profit this month was pretty good as well. Again, we’ve had better months, but this amount will keep us growing and investing in properties and more letters to generate more deals.
The average gross profit per deal is low. In 2021, I averaged about $20k over all of our deals. This number is lower this month because I had a couple of smaller deals that brought the average down.