The first “lie” is the you have to “outline it all first”. Let me tell you, this is where I see  a lot of people get bogged down.  People just getting started in our business think they have to have every detail planned out, and everything accounted for before they make an offer on a property.

What usually happens is – they never get started.  No offers.  No projects.  No profits.

This “outline it all first” lie is particularly relevant to our WREIA meeting this month.  I suggest you throw some (emphasis on some) caution to the wind and just get going.  You don’t need to hire 14 inspectors, 27 advisers and 4 architects to do a  renovation on your first condo.

And yet – that is exactly what happens.  People get busy hiring experts to come in and advise them, when the next investor that comes in sees a deal and jumps on it.

There are plenty of things you can do to protect yourself when you are making an offer.  But once you have quickly looked at everything, and done your homework – make the offer.  Plan in a contingency for some mistakes – BUT GET GOING!

I hope you are making plans to be with us on Monday June 22nd.  We are going to be talking about small ways to save on your renovation projects.  Saving a little here and there throughout the process can really add up to thousands of dollars at the end of your projects.  Those are additional profits that may not be falling to your bottom line today.

Come on out on Monday, June 22nd and take away a few tips from our WREIA members, as they explain simple things that they do that help add dollars to their bottom line.

John Peterson

 301-881-5541