Hi, my name is Lou Brown. I'm here with another of my 101
cash flow accelerators.
cash flow accelerators.
And in this one I want you to be aware of what your costs
are when you're doing renovations. I know that sounds simple and uh, but it's
really not. A lot of people really don't understand what they're going to spend
when they go into a project. Often, actually, as an investor, I buy from
wholesalers all the time and one of the things is they bring me projects that
are failed projects. Why? Because the unknowing untrained investor came in,
purchased the property, started the renovation, ran out of money, got taken
advantaged of by the contractor. Didn't know what to do, didn't know how to do
it, crashed and burned. Brings me the deal. I buy it for pennies on the dollar.
I'm able to finish the renovation. It's something you need to be very aware of,
particularly if you're just getting started in the business.
are when you're doing renovations. I know that sounds simple and uh, but it's
really not. A lot of people really don't understand what they're going to spend
when they go into a project. Often, actually, as an investor, I buy from
wholesalers all the time and one of the things is they bring me projects that
are failed projects. Why? Because the unknowing untrained investor came in,
purchased the property, started the renovation, ran out of money, got taken
advantaged of by the contractor. Didn't know what to do, didn't know how to do
it, crashed and burned. Brings me the deal. I buy it for pennies on the dollar.
I'm able to finish the renovation. It's something you need to be very aware of,
particularly if you're just getting started in the business.
It's critical that you know your costs literally go room
by room. Now in my system all renovations, I actually take you step by step and
room by room in the budgeting process and so you're identifying the items in
that room. Now what I've done is already given you a tip off for each one of
the things that I want you to look at when you're at that project, and so what
happens is now you are triggered to actually identify that particular thing.
For example in the kitchen, obviously cabinets, then counter tops and then the
sink and then the faucet. You see each one of these is a separate budget item
and can be highly skewed on the costs by your choices of finishes, by your
choices of quality of cabinet, your choice of the sink, your choice of the
faucet. You see each one of these items can very widely as I was saying, so
it's important that you identify these things by taking that list of budget
items, you identify what you're going to have in your project.
by room. Now in my system all renovations, I actually take you step by step and
room by room in the budgeting process and so you're identifying the items in
that room. Now what I've done is already given you a tip off for each one of
the things that I want you to look at when you're at that project, and so what
happens is now you are triggered to actually identify that particular thing.
For example in the kitchen, obviously cabinets, then counter tops and then the
sink and then the faucet. You see each one of these is a separate budget item
and can be highly skewed on the costs by your choices of finishes, by your
choices of quality of cabinet, your choice of the sink, your choice of the
faucet. You see each one of these items can very widely as I was saying, so
it's important that you identify these things by taking that list of budget
items, you identify what you're going to have in your project.
Now you can go online, the home depot.com or you can go to
other suppliers and you can literally identify the items that you want selected
for your property and put those item numbers. In fact, you can build a list
right there online. Build a list of all the items that you want and they'll add
them up. Now we are certified affordable housing providers. We have special
discounts with various suppliers under our brand. So that's another thing. Once
you become certified, did you get the benefit of like automatic, 20% off paint,
automatic discounts on cabinets, automatic discount on carpet, automatic
discounts on packages of appliances. These are things that we've been able to
pre negotiate for you or our certified affordable housing providers.
other suppliers and you can literally identify the items that you want selected
for your property and put those item numbers. In fact, you can build a list
right there online. Build a list of all the items that you want and they'll add
them up. Now we are certified affordable housing providers. We have special
discounts with various suppliers under our brand. So that's another thing. Once
you become certified, did you get the benefit of like automatic, 20% off paint,
automatic discounts on cabinets, automatic discount on carpet, automatic
discounts on packages of appliances. These are things that we've been able to
pre negotiate for you or our certified affordable housing providers.
Well, hope this has been of help to you. To learn more
about our system, go to StreetSmartInvestor.com click on tools, click on
renovations. And I'll see you soon. Share this like this. Love this, and I hope
to see you soon. Yeah, baby!
about our system, go to StreetSmartInvestor.com click on tools, click on
renovations. And I'll see you soon. Share this like this. Love this, and I hope
to see you soon. Yeah, baby!
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