Hi, it's Lou Brown. I'm back with another of my 101 cash
flow accelerators. I want to help you to be successful in this great business
called real estate.
flow accelerators. I want to help you to be successful in this great business
called real estate.
And one of the things is very, very important that you
identify when you don't understand what it is that you're doing. For example,
you may think to yourself that you are supposed to do something, and I've seen
too many times when people buy carpet, when they need to be buying drywall and
they bring things to the project that's untimely for where the step is in the
project. So critical that you have deliveries related to the installation of
those things. The reason is that contractors and their workers are often very
sloppy. Careless, it's your materials. They don't care about those things. And
secondly, theft that it's easy to take something that's right there on the job.
I hate to tell you this, but some of the people working on the job might be the
thieves or they might tell someone else, Hey, I know some stuff that's on that
job over there.
identify when you don't understand what it is that you're doing. For example,
you may think to yourself that you are supposed to do something, and I've seen
too many times when people buy carpet, when they need to be buying drywall and
they bring things to the project that's untimely for where the step is in the
project. So critical that you have deliveries related to the installation of
those things. The reason is that contractors and their workers are often very
sloppy. Careless, it's your materials. They don't care about those things. And
secondly, theft that it's easy to take something that's right there on the job.
I hate to tell you this, but some of the people working on the job might be the
thieves or they might tell someone else, Hey, I know some stuff that's on that
job over there.
It could be taken back to the supplier and it could be
refunded. You see, you want to always be careful or it can be sold to some
other renovator for a discount. By the way, don't ever be a market for that
stuff. You know when people bring me stuff at a huge discount. I go oh, no, I
know this was stolen from somewhere. I'm not going to hurt somebody else by
buying this at a discount. And just do the right thing. Karma is a real thing.
And you do unto others as you would have them do unto you. And so it's important
that when you identify an arena that you do not understand. Get professional
help hire a home inspector to come into that property, identify the things that
absolutely need to be fixed because that's going to come up sooner or later.
You're buyer of the property may have a home inspector come in and now you're
going to have to fix things that could have been fixed during the renovation
that now you've got to tear out walls, tear out floors.
refunded. You see, you want to always be careful or it can be sold to some
other renovator for a discount. By the way, don't ever be a market for that
stuff. You know when people bring me stuff at a huge discount. I go oh, no, I
know this was stolen from somewhere. I'm not going to hurt somebody else by
buying this at a discount. And just do the right thing. Karma is a real thing.
And you do unto others as you would have them do unto you. And so it's important
that when you identify an arena that you do not understand. Get professional
help hire a home inspector to come into that property, identify the things that
absolutely need to be fixed because that's going to come up sooner or later.
You're buyer of the property may have a home inspector come in and now you're
going to have to fix things that could have been fixed during the renovation
that now you've got to tear out walls, tear out floors.
You see, I've seen it all. I've been in this game for over
40 years, buying, holding, and selling property. And I can tell you, you got to
do your homework. You gotta do this right? Don't make the mistakes. And so many
others have made and crash and burn along the way. Some of the things in
renovations seem like it's just its common sense. And a lot of it is common
sense. Now the question is, do you have the ability to identify the things that
you're supposed to identify, particularly when it's early on in the game, and
you haven't yet learned. All there is to know, now I give you some warning
signs in my system called renovations. You can go to StreetSmartInvestor.com.
Click on tools, click on renovations. It'll have more details about what we do
when we renovate the properties.
40 years, buying, holding, and selling property. And I can tell you, you got to
do your homework. You gotta do this right? Don't make the mistakes. And so many
others have made and crash and burn along the way. Some of the things in
renovations seem like it's just its common sense. And a lot of it is common
sense. Now the question is, do you have the ability to identify the things that
you're supposed to identify, particularly when it's early on in the game, and
you haven't yet learned. All there is to know, now I give you some warning
signs in my system called renovations. You can go to StreetSmartInvestor.com.
Click on tools, click on renovations. It'll have more details about what we do
when we renovate the properties.
Hopefully this has been of help to you. So like it, love
it. Share it, and do subscribe. Thanks so much see you soon. Yeah, baby!
it. Share it, and do subscribe. Thanks so much see you soon. Yeah, baby!
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