One of the thrilling things about doing a major renovation project (and being an independent real estate entrepreneur, for that matter) is knowing that there are many, Many, MANY things that can rear their ugly heads and start to wreck your deal.
Many “gurus” don’t want to talk about this aspect.
Because it doesn’t put everything into a wonderful shiny light that makes you want to buy what they are offering.
But I’m a realist.
And I think being fully informed and knowing what types of nasty villains can pop out and bite you is important.
It’s important because if you know what to expect then you can properly prepare for it.
Rather than going into battle blindfolded with no weapon or defensive armor, I’d rather you train, suit-up, and take a worthy weapon.
What/Who are the villains?
Here’s what I’ve been dealing with:
* Capitan Covid
(can swoop in at any time and knock out my rehab crew for 2 weeks.)
* Civil unrest
(It is a property in the heart of DC after all, and the action has already started. My contractor knows he can pause if needed, and now we need to account for the curfew.)
* Cost Overruns
(One needs to pay close attention to expenses so that it doesn’t get out of control. My contractor and I will make the property fabulous, but we can’t break the bank doing so. Champaign look & quality, beer budget.)
* Lack of Stock for Materials
(Somethings just aren’t available right now. Especially during the pandemic, supply chains are messed up and some suppliers just don’t have any stock of the items I want. You’ll see how we deal with this in this training.)
* Delayed Deliveries
(If items don’t make it to the job site on time, it can screw up the whole order we want to build in and cause confusion and delay.)
* Market Shifts
(Things are strong now. But with 2 months to go, anything can happen. That’s the risk we take for the reward that awaits.)
* City inspectors
(Inspections might throw us curveballs. In my experience, no matter how much we comply with everything, they always seem to manage to throw an odd curveball our way, like an unneeded light switch or extra insulation. This can cause delays and added expense.)
* Difficulty finding a Buyer
(I doubt it because I have a top agent advising on and doing the resale and it’s going to look and feel like the best property in the neighborhood, but you never know how long it might sit if something unexpected happens.)
* Flakey Team Members
(a subcontractor might flake out and no longer be reliable (this has already happened as I write this!) and then they need to be replaced and any ‘damage’ fixed.)
* My own ADD
(I’ll admit it, every time I do a rehab I start to tune out at a certain point. I just get tired of choosing tile, floors, paint colors, fixtures, etc. That’s the reason I mostly wholesale, because if I don’t focus I could lose big-time on a rehab. In this training I discuss and demonstrate how I deal with this inner-villain.)
* And many more various villains lurking in the shadows that can pounce at any time.
(Dangerous because of the unknown…)
Speaking of Captain Covid, I already had it. That’s why my voice is raspy on some of the early videos included in this program. (And why I wasn’t always thinking clearly and needed my team to backstop me.)
Yes, there many things that can derail or delay this major rehab project.
That’s part of the fun and excitement.
And it’s all captured, dissected, discussed, and dealt with in my “Anatomy of a Renovation & Resale” program.
It’s like looking over my shoulder and seeing exactly how I do my rehabs.
You’ll see :
- My multiple detailed “Pinpoint Price Analysis” sessions with my real estate agent
- Each of the “Remote Rehab Review” sessions with my contractor as we determined the scope of work and budget for the job
- Ongoing video walkthrus of the construction as it is in progress
- How I select the finishes, fixtures, and other design elements
- Home Depot details
- And much more
Grab your popcorn and enjoy and learn as the deal and the drama unfold.
In each of these episodes, which you get in online video format, I reveal hundreds of secrets to renovating, handling issues, and maximizing profits… secrets I had to learn, in many cases, on my own or through the “school of hard knocks”.
Apart from my Kit and Implementation Bootcamp, this is in many ways the most valuable investing training I’ve put together by far, since it goes deep into all aspects of a deal in a way that wasn’t previously practical to capture and convey, but is now perfect using video, which is great for teaching you all my tactics and techniques.
— If you learned just one technique for cutting rehab costs, would it be worth it?
— If you learned just one lesson on ratcheting up your property’s value, would it be worth it?
— If you learned just one tip that massively accelerated your investing career, would it be worth it?
The price is $675.
Traction Real Estate Mentors