Flying home today — Writing to you from the lounge at Heathrow…
London always makes me smile as it’s the little things that are different.
The first floor is not the one you entered on, that’s the “ground floor”. The 1st floor is one up.
It’s the “lift” not the “elevator”.
Chips are french fries.
Crisps are chips.
Beer is flat and room temp.
Toilet, loo, and gents (or ladies) are all used for “bathroom” (there isn’t a tub in there, after all).
The “subway” is a tunnel just for walking under an intersection or road. And the “tube” is the underground train that us Yanks would call the subway.
Subtle points perhaps.
Because these small subtleties can completely mess you up if you don’t get the nuance.
Just like in business, if you miss a seemingly small point it can completely kill your deal.
That’s why learning to comp accurately is important so you know the value of a property.
And why your repair estimate needs to be accurate (and realistic).
It takes some practice to get it right.
Which is why I put my real estate coaching students through a series of exercises to learn how to comp properly and how to estimate repairs accurately. (Even if you have no prior experience.)
Because once you learn to handle the basics and master the subtleties, then you are well on your way to correctly analyzing deals.
And with this roadblock removed, you speed up your process, which gets you to a successful deal faster.
Ready to learn the subtleties and be a stranger no more?
Traction Real Estate Mentors