Catherine Bell and Tommy evaluate real estate deals by the numbers, not gut feeling. Even after thousands of transactions, each deal is unique enough that intuition fails. They use property walkthroughs, on-site meetings, and conversion analysis to stay objective.
Is it a good thing if we're able to prejudge a property, or do we just want the numbers just to tell us instead of our own instinct?
I want the numbers to tell you instead of your own instinct. Your instinct hasn't— you haven't done enough deals to have your instinct tell you. Let's do a walkthrough tomorrow or Thursday. Meet him at the property. No, I'm in Arizona. Sorry. More hurdles to jump through. Super not fun. Okay. So let's go ahead and share this with you guys. So here's what I'd say for all of you for your instinct. Until you've done as many deals as Tommy and I have done, I invite you to consider your instinct is not finely tuned yet. And here's how I know. I've done thousands of deals and my instincts still aren't finely tuned because again, this is what I love about real estate is that every single deal can be done differently, right? If this was a cookie cutter, like this is the way it goes every single time, and here's the right answer, and here's the checkboxes, then yes. But that's not real estate. Real estate and these deals and these businesses require you to think, require you to put teams together, require like so many different parts of you that are just not finely tuned yet. And so that's why even we, after doing thousands of deals, still use this, and more importantly than ever, like lean into it even heavier so that it can help us really analyze the deals. Do the numbers. The numbers tell you what to do. Like, never once have you ever or will you ever say, do what your intuition says. No, we'll always say, do the numbers and the numbers tell you what to do. That's it. Like, that's the answer. Okay, so property conversion analysis.
