How do you choose how much to renovate and how to finish your propeties?? What’s the difference in renovations for a flip vs. rental? If you’re doing a rental property, keep it simple. It’s going to take a lot of wear and tear so don’t pour your heart into the design and finish. You really need to just make a …
Should I Flip or Rent? First off, it depends on you. Do you want to make a quick hit, flip something, make a chunk of change and move on OR are you in this game for the long-term rental cash flow year after year? That’s what you have to ask yourself. This may be determined by your personal financial status …
Save Time, Make Money The equation is simple: Saving time = making money. So, save time, make money. During the early part of my career, I had a full time job as well as doing deals. Instead of trying to fit leasing into my schedule as well, I would have my leasing done by my contractor, Alex. He’s a great …
Focus! I hear this all the time – “I want to buy in a different market than I live in.” I say don’t do it!! We NEVER do it. Instead, FOCUS on one place. We’ve made a lot of money focusing on the areas that I grew up in. I actually live here, so I know them very well. We focus …
Secret Construction Tool!!! Two great questions today!! Is there a piece of software out there to help figure out construction numbers? AND How do you stay motivated in this business? There is no holy grail to figuring out construction in real estate. It’s one of the hardest problems to solve. What I do is I get my hands dirty. We …
I Can’t Get a Loan! HELP! Question: The national bank I’ve been with for 10 years won’t give me a loan for my business, so what am I doing wrong? Answer: You’re going with too big of a bank! This is a very common problem for new investors. What you have to do is look for the local banks who …
Why is Property Management SO Important? This question about property management has many, many answers, but I’ll focus on the biggest ones today and give you a few tips on HOW to manage a property. Firstly, when you think of your investment properties, think of them as just that: INVESTMENTS. These properties are not there to make you a quick …
The greatest learning tool you’ll ever have: Failure. One of my biggest setbacks happened very early on in my investing career. I was on my second property. The first one didn’t go so hot, so I was anxious to make some money on this second deal. I bought a house for $50,000 and I planned on putting $50,000 into it. …
Question: What’s the secret sauce to managing a well-oiled machine while in the Growth Stage? Answer: Don’t run a well-oiled machine in the Growth Stage! It is not seeking perfection, but instead being comfortable with imperfection. As you grow you will want your baby to be the vision of loveliness you thought it would be when you birthed the IDEA …
Many people want to start a real estate business, but almost immediately lots of questions spring to their minds. These include: What kind of real estate is the best for me? What are the basics of setting up a real estate investment office? What beginning marketing strategies should I use? It’s good that you’re asking these kinds of questions. It …
