How To Maximize Every Real Estate Deal You Take On

How To Maximize Every Real Estate Deal You Take On


As an investor, you need to be much more focused on the bottom line rather than the number of properties you own. It really doesn’t matter how many properties you have; they are essentially hurting your business if they don’t make you money. It is easy to think that the rehab process is a simple one by watching one of the home flipping shows on TV. In reality, a lot more goes into the process than is typically shown. If you want to get the most out of every rehab, you need to constantly focus on the bottom line. While a simple concept, maximizing every deal you take on is a critical component to success that many overlook for one reason or another. Do yourself a favor and give yourself every advantage possible.

Numbers should drive everything you do in business. Falling in love with a property with mediocre numbers will only offer you mediocre returns. This is time and energy that you could have spent working on better deals and growing your business. A property may have everything you are looking for, but the numbers should be your ultimate decision maker. In spite of what many investors may think, the numbers are the most important thing in any deal. You can’t just will and wish your way to a successful transaction if the numbers aren’t there.

Evaluating the numbers starts with an honest estimation of repair costs. Before you even know what you should offer, you need to have a firm idea of what your expenses will be. You can make any property work if you bend your numbers enough. All this will do is start you out behind the eight ball and leave you with a property you wish you never got involved in.

It takes years of looking at properties to accurately estimate every cost and know exactly what needs to be done to give you the best return. If you are still unsure about the numbers, you can bring in a second contractor for an inspector. There is often such a rush to get an offer in that this part of the process is hurried and done hastily. This is the most important step in any successful rehab deal. If your estimates are off, everything else in the deal will be impacted.

However, estimates are only the first of many steps. These estimates should be treated as such. As every seasoned investor knows; you should expect the unexpected once your work begins. Things will happen that will require you to shift gears on the fly and deal with new challenges that you may have never expected. This is why it is important to have a cushion on every property. Very few rehabs will go off without a hitch. A good contractor should catch most of these items, but some of them will be completely unexpected. If you are hoping that everything goes right from start to finish and all of the estimates will be below what you expect, you are asking for an awful lot.

Having a good plan and a schedule are necessities for any rehabber, but you need to execute that plan to make it all work. This means shuffling in your contractor, painter, electrician and anyone else that is working on the property. Time is literally money on every deal. Therefore, it is critical to follow strict dates and quotes. Your labor costs are often overlooked and not looked at closely enough. It is not enough to just get the work done on a rehab, the quality of the work is almost as important. If you show up to your property once every few days, you will not know if something is done sloppily or even at all. A contractor can only do so much in the way of watching what everyone is doing and how they are doing it. This is your property and you need to know what is going on at all times. This doesn’t mean you have to micromanage every person on the site, but you need to know who is working, how they are doing it and if you are satisfied in the quality. A few overages here and there in your labor costs and soon enough a great deal turns into an average one.

The more deals you do, the more you will know what to look for and how to best spend your money. There is a skill in spending money in the right places and saving money in other areas. Most markets are highly competitive. The slightest changes in labor, materials and other costs can alter how you look at a deal. It is critical to stay on top of these costs and spend the time to do your homework. Breaking even or even losing money on a deal will provide a good lesson for what not to do on future deals, but you don’t want to have that happen to make a point.

Rehabbing properties is all about the bottom line. Profits can get erased very quickly if you are off with your estimates or your labor is inefficient. If you have to come up with a system or a spreadsheet to help you in this process, do it. It is not how many properties you have under contract, but the profits you make from them.

-See more at:  http://www.fortunebuilders.com/maximize-every-real-estate-deal-take/

Comments

  1. I am curious to find out what blog system you happen to be utilizing?
    I’m experiencing some minor security problems with my latest site and I
    would like to find something more safeguarded. Do you have any solutions?

  2. My brother recommended I might like this web site.

    He was entirely right. This post truly made my day. You can not imagine just how much time I had spent for this information! Thanks!

  3. Cheri says:

    Pretty nice post. I just stumbled upon your blog and wanted
    to say that I have really enjoyed surfing around your blog posts.
    After all I’ll be subscribing to your rss feed and I hope you write again very soon!

  4. Hey! I understand this is sort of off-topic however
    I needed to ask. Does building a well-established website such as yours take a lot of work?
    I’m brand new to blogging but I do write in my journal daily.
    I’d like to start a blog so I will be able to share
    my own experience and views online. Please let me know if you have
    any kind of ideas or tips for new aspiring blog owners. Thankyou!

  5. Hello There. I found your blog using msn. This is an extremely well written article.
    I will make sure to bookmark it and return to read more of your useful information. Thanks for the post.
    I will certainly return.

  6. Thanks to my father who told me regarding this web
    site, this weblog is really amazing.

  7. Ahaa, its pleasant dialogue about this article here at this webpage, I have read all that, so now me also commenting at this place.

  8. There is definately a great deal to learn about this topic.
    I love all of the points you have made.

  9. travel tips says:

    Howdy, There’s no doubt that your website may be having internet browser compatibility problems.

    When I look at your blog in Safari, it looks fine but when opening in I.E., it has some overlapping issues.
    I simply wanted to provide you with a quick heads up! Other than that, wonderful site!

  10. soccer shoes says:

    Ahaa, its pleasant conversation concerning this article at this place at this website, I have read all that, so
    now me also commenting at this place.

  11. Hello colleagues, good article and pleasant urging commented here, I
    am really enjoying by these.

  12. apple ipad says:

    Thanks for sharing your thoughts. I truly appreciate your efforts and I will be waiting for
    your further write ups thanks once again.

  13. apple iphone says:

    Wow, awesome weblog format! How long have you
    ever been running a blog for? you make blogging
    glance easy. The entire look of your site is excellent,
    as well as the content!

  14. What’s Happening i’m new to this, I stumbled upon this I
    have discovered It positively helpful and it has helped
    me out loads. I hope to contribute & aid different customers like its aided me.
    Good job.

  15. I’ll immediately take hold of your rss feed as I can not find your e-mail subscription hyperlink or newsletter service.
    Do you’ve any? Kindly permit me know in order that I could subscribe.
    Thanks.

  16. Having read this I believed it was very informative. I appreciate you taking the
    time and energy to put this information together.

    I once again find myself spending a significant amount of time both reading and posting comments.
    But so what, it was still worthwhile!

  17. I was suggested this website by my cousin. I’m not sure whether
    this post is written by him as no one else know
    such detailed about my trouble. You are amazing!
    Thanks!

  18. It’s truly very difficult in this full of activity life to listen news on Television, therefore I
    only use web for that reason, and take the most recent news.

  19. Write more, thats all I have to say. Literally, it seems as though you relied on the
    video to make your point. You clearly know what youre
    talking about, why throw away your intelligence on just posting videos to your blog when you could be giving us something
    enlightening to read?

  20. Lawrence says:

    Hmm is anyone else encountering problems with the images on this blog loading?
    I’m trying to figure out if its a problem on my end or if it’s the blog.
    Any feed-back would be greatly appreciated.

  21. Ridiculous story there. What occurred after? Good luck!

  22. There’s definately a great deal to know about this issue.
    I love all the points you made.

  23. I am really thankful to the holder of this website who has shared this
    fantastic article at at this place.

  24. It’s really very complicated in this full of activity life to listen news on Television, therefore I simply use the web for that purpose,
    and take the latest news.

  25. great issues altogether, you simply gained a brand new reader.
    What may you suggest about your put up that you just made some days ago?
    Any certain?

  26. I’ve read some just right stuff here. Certainly price bookmarking for revisiting.
    I surprise how so much effort you put to make such a excellent informative web site.

  27. Hi there it’s me, I am also visiting this web page regularly, this web page
    is in fact nice and the people are genuinely sharing fastidious thoughts.

  28. There’s certainly a lot to learn about this subject.
    I like all of the points you’ve made.

  29. Malorie says:

    I think this is among the most vital info for me.

    And i’m glad reading your article. But want to remark on few general things,
    The web site style is great, the articles is really excellent : D.
    Good job, cheers

  30. I am regular reader, how are you everybody?
    This piece of writing posted at this web site is in fact pleasant.

  31. What’s up to every one, since I am in fact keen of
    reading this blog’s post to be updated regularly. It carries pleasant stuff.

  32. Wonderful, what a website it is! This blog gives valuable facts to us, keep it up.

  33. Hi there! I know this is kinda off topic but I was wondering which blog platform
    are you using for this site? I’m getting tired of WordPress because I’ve had issues with
    hackers and I’m looking at alternatives for another platform.

    I would be fantastic if you could point me in the direction of a good platform.

  34. Truly when someone doesn’t be aware of after that its up to other people that they
    will assist, so here it occurs.

  35. You are so cool! I don’t believe I’ve truly read something like this before.
    So great to discover someone with a few genuine thoughts on this topic.
    Seriously.. many thanks for starting this up. This site is
    one thing that is needed on the internet, someone with a bit of originality!

  36. I seriously love your site.. Excellent colors & theme.

    Did you create this site yourself? Please reply back as I’m planning to create my own site
    and would like to find out where you got this from or exactly what the theme is named.
    Appreciate it!

  37. Linette says:

    Hi, I check your new stuff regularly. Your writing style is witty, keep it up!

  38. Excellent beat ! I wish to apprentice while you amend your web site, how can i subscribe
    for a blog site? The account aided me a applicable deal.
    I were a little bit familiar of this your broadcast offered brilliant transparent idea

  39. Rosemary says:

    Just want to say your article is as astonishing. The clarity to your submit is just excellent and i can suppose
    you are knowledgeable in this subject. Well along with your permission let
    me to clutch your feed to stay updated with impending post.
    Thank you one million and please carry on the rewarding work.

  40. For latest information you have to pay a quick visit internet and on world-wide-web I
    found this web page as a best web site for most recent updates.

  41. Hey There. I found your blog using msn. This is a really
    well written article. I’ll make sure to bookmark it
    and come back to read more of your useful info. Thanks
    for the post. I’ll definitely comeback.

  42. I love what you guys are usually up too. This sort of clever work and coverage!
    Keep up the fantastic works guys I’ve incorporated you guys
    to my personal blogroll.

  43. Thank you for the auspicious writeup. It in fact was a
    amusement account it. Look advanced to far added agreeable from you!
    However, how can we communicate?

  44. backup keys says:

    Hello are using WordPress for your blog platform?
    I’m new to the blog world but I’m trying to get started and create my own. Do you require
    any coding knowledge to make your own blog? Any help
    would be really appreciated!

  45. Hi, I do believe this is an excellent blog. I stumbledupon it 😉 I’m going to come back yet again since I book-marked it.
    Money and freedom is the greatest way to change, may you
    be rich and continue to guide other people.

  46. Francis says:

    Hi there! Do you know if they make any plugins to safeguard against hackers?
    I’m kinda paranoid about losing everything I’ve worked hard on. Any suggestions?

  47. Link exchange is nothing else except it is simply placing the other person’s weblog link on your page at suitable place and other person will also do same for you.

  48. Heya i am for the primary time here. I came across this board and I in finding It truly useful & it helped me out
    a lot. I am hoping to provide something again and aid others such as you aided me.

  49. Wonderful, what a website it is! This blog provides valuable information to us, keep it
    up.

  50. I’m not sure where you’re getting your information, but good topic.
    I needs to spend a while learning much more or figuring out
    more. Thanks for great information I was on the lookout for this information for my mission.

  51. Cindi says:

    Your way of describing the whole thing in this article
    is genuinely nice, every one can effortlessly understand it, Thanks a
    lot.

  52. Princess says:

    Woah! I’m really loving the template/theme of this blog.
    It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between user friendliness
    and visual appeal. I must say you have done a excellent job with this.
    In addition, the blog loads super fast for me on Firefox.
    Excellent Blog!

  53. When someone writes an post he/she maintains the thought of a user in his/her mind that how a user can know it.
    So that’s why this piece of writing is great. Thanks!

  54. After I originally commented I appear to have
    clicked on the -Notify me when new comments are added- checkbox and now every time
    a comment is added I get four emails with the exact same comment.
    There has to be a way you can remove me from that service?
    Kudos!

  55. I pay a visit everyday a few blogs and websites to read articles,
    except this blog presents feature based content.

  56. whoah this weblog is great i love studying your posts.
    Keep up the great work! You realize, many people are looking around for this info, you
    can aid them greatly.

  57. We’re a group of volunteers and starting a new scheme in our community.
    Your website offered us with valuable information to work on.
    You’ve done a formidable job and our entire community will be
    thankful to you.

  58. I’m really impressed with your writing skills as
    well as with the layout on your weblog. Is this a paid
    theme or did you customize it yourself? Either way keep up the excellent quality writing, it’s rare to see a nice blog like this
    one nowadays.

  59. Lenora says:

    First of all I would like to say excellent blog! I had a quick question that I’d like to ask if you
    do not mind. I was curious to find out how
    you center yourself and clear your mind before writing.

    I’ve had a difficult time clearing my thoughts in getting my ideas out there.
    I truly do enjoy writing however it just seems like the first 10 to 15 minutes
    are wasted simply just trying to figure out how to begin. Any recommendations or
    tips? Many thanks!

  60. Hello, yes this paragraph is genuinely nice and I have learned lot
    of things from it regarding blogging. thanks.

  61. I have read so many content concerning the blogger lovers except this post is genuinely a fastidious post, keep it up.

  62. Hildegard says:

    I got this web page from my buddy who shared with me regarding this website and at the moment this time I
    am visiting this site and reading very informative articles here.

  63. Great site. Plenty of useful info here. I am sending it to some
    buddies ans also sharing in delicious. And certainly, thanks in your effort!

  64. My spouse and I absolutely love your blog and find many
    of your post’s to be exactly what I’m looking for.

    Do you offer guest writers to write content for you?
    I wouldn’t mind composing a post or elaborating on some of the subjects
    you write related to here. Again, awesome site!

  65. As the admin of this web page is working, no doubt very
    soon it will be well-known, due to its quality contents.

  66. Hey there! Do you know if they make any plugins
    to help with Search Engine Optimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good gains.

    If you know of any please share. Thank you!

  67. Aw, this was an incredibly good post. Taking a few minutes and actual effort to create a really good article… but what
    can I say… I put things off a lot and never seem to get nearly anything done.

  68. Hi, i think your site is great. Can you tell me who designed it as i would like to hire them. Thanks.

  69. Have you ever thought about including a little bit more than just your articles?
    I mean, what you say is valuable and everything.

    But imagine if you added some great pictures or video clips to give your posts more, “pop”!
    Your content is excellent but with images and video clips, this site could undeniably
    be one of the most beneficial in its field. Very good
    blog!

  70. Joesph says:

    Hey I know this is off topic but I was wondering if you knew of
    any widgets I could add to my blog that automatically tweet my newest twitter updates.
    I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some
    experience with something like this. Please let
    me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

  71. Heya i’m for the primary time here. I came across this board and I
    to find It truly useful & it helped me out a lot. I hope
    to present one thing again and help others like you aided
    me.

  72. It’s a pity you don’t have a donate button! I’d without a doubt donate to this brilliant blog!

    I guess for now i’ll settle for bookmarking and adding your RSS feed to my Google account.
    I look forward to fresh updates and will talk about this website with my Facebook group.
    Talk soon!

  73. I always used to read post in news papers but now as I am a
    user of web so from now I am using net for articles, thanks to web.

  74. First of all I want to say wonderful blog! I had a quick question in which I’d like to
    ask if you don’t mind. I was curious to know
    how you center yourself and clear your mind prior to writing.
    I have had a difficult time clearing my thoughts in getting my ideas out there.
    I truly do take pleasure in writing however it just seems like the first 10 to 15 minutes tend to be
    lost simply just trying to figure out how to begin. Any suggestions or hints?
    Thank you!

  75. When I initially left a comment I appear to have clicked the -Notify
    me when new comments are added- checkbox and now whenever a comment is added
    I receive 4 emails with the exact same comment.
    Perhaps there is a means you are able to remove me from that
    service? Cheers!

  76. Sex Video says:

    This is a topic which is close to my heart… Take care! Exactly where are your contact details though?|

  77. thesun.co.uk says:

    May I just say what a relief to uncover an individual who truly knows what they’re
    talking about on the internet. You actually realize how to bring
    a problem to light and make it important. More people really
    need to read this and understand this side of the story.

    I was surprised that you’re not more popular because you definitely have the gift.

  78. Boyce says:

    I’m amazed, I must say. Seldom do I encounter a blog that’s
    equally educative and amusing, and let me tell you, you have hit the nail on the
    head. The problem is an issue that too few folks are speaking intelligently about.
    I’m very happy that I came across this during my hunt for something concerning this.

  79. Violette says:

    This is very attention-grabbing, You are an overly skilled blogger.
    I’ve joined your rss feed and look ahead to in the hunt for more of your
    great post. Also, I have shared your site in my social networks

  80. Kirkland says:

    You’re so cool! I don’t believe I have read through something like this before. So nice to discover another person with some unique thoughts on this subject matter. Really.. thanks for starting this up. This site is something that is needed on the web, someone with some originality!|

  81. I think this is among the most vital information for me. And i’m glad reading your article.
    But want to remark on few general things, The web
    site style is ideal, the articles is really nice : D. Good job, cheers

  82. Oksofas says:

    Howdy! I know this is sort of off-topic but I had to ask. Does managing a well-established blog like yours take a lot of work? I’m brand new to blogging however I do write in my diary everyday. I’d like to start a blog so I can easily share my experience and views online. Please let me know if you have any kind of ideas or tips for brand new aspiring blog owners. Appreciate it!|

  83. Libby says:

    Hi my family member! I want to say that this post is awesome, great written and come with almost all important infos.
    I’d like to see extra posts like this .

  84. whoah this weblog is excellent i like reading your posts.
    Keep up the good work! You understand, a lot of individuals are hunting around for this info,
    you can aid them greatly.

  85. Can I simply just say what a relief to find an individual who actually understands what they are talking about on the internet. You definitely know how to bring an issue to light and make it important. More people must check this out and understand this side of your story. It’s surprising you are not more popular since you definitely possess the gift.|

  86. Hello, its fastidious article on the topic of media print, we all be aware of media is
    a great source of facts.

  87. loan term says:

    Hi friends, fastidious paragraph and pleasant urging
    commented here, I am really enjoying by these.

  88. I’d like to thank you for the efforts you’ve put in writing this website. I really hope to check out the same high-grade content from you later on as well. In truth, your creative writing abilities has motivated me to get my own, personal website now ;)|

  89. Howdy would you mind stating which blog platform you’re using?
    I’m planning to start my own blog in the near future but I’m having a
    hard time choosing between BlogEngine/Wordpress/B2evolution and Drupal.
    The reason I ask is because your layout seems different then most
    blogs and I’m looking for something completely unique.
    P.S My apologies for being off-topic but I had to ask!

  90. My brother suggested I might like this web site. He was entirely right. This post truly made my day. You can not imagine just how much time I had spent for this info! Thanks!|

  91. Hi there to all, as I am in fact eager of reading this webpage’s post to be updated regularly. It includes pleasant stuff.|

  92. gary evans says:

    I enjoy reading through a post that will make people think. Also, thanks for permitting me to comment!|

  93. If you are going for most excellent contents like
    I do, just go to see this website all the time for the reason that
    it offers quality contents, thanks

  94. bookmarked!!, I love your site!|

  95. I was suggested this website by my cousin. I am not sure whether this post is written by him as no one else know such detailed about my difficulty. You’re amazing! Thanks!|

  96. Your mode of explaining the whole thing in this paragraph is genuinely fastidious, all
    be able to without difficulty be aware of it, Thanks a lot.

  97. Hi there to every one, the contents present at this website are in fact remarkable for people experience, well, keep up the nice work fellows.|

  98. bi+ch says:

    Paragraph writing is also a fun, if you be familiar with then you can write or else it is complex to write.|

  99. Primmo says:

    Hello, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot of spam remarks? If so how do you reduce it, any plugin or anything you can recommend? I get so much lately it’s driving me mad so any assistance is very much appreciated.|

  100. What’s up to every one, it’s really a good for me to pay a quick visit this web page, it includes helpful Information.|

  101. I’m gone to inform my little brother, that he should also pay a quick visit this blog on regular basis to get updated from latest gossip.|

  102. travel deals says:

    What’s Taking place i’m new to this, I stumbled upon this
    I’ve discovered It positively useful and it has helped
    me out loads. I hope to contribute & aid other customers like its aided me.
    Great job.

  103. javak.ir says:

    No matter if some one searches for his necessary thing, so he/she
    needs to be available that in detail, so that thing is maintained over
    here.

  104. Howdy fantastic blog! Does running a blog like this require a large amount of
    work? I have no understanding of programming however I was hoping to start my own blog in the near future.
    Anyhow, should you have any ideas or tips for new blog owners please share.
    I understand this is off subject but I just had to ask.

    Kudos!

  105. This article will help the internet visitors for creating new webpage or even a weblog from start to end.|

  106. Retro ROMs says:

    Right here is the perfect blog for anybody who hopes to understand this topic. You understand a whole lot its almost hard to argue with you (not that I personally will need to…HaHa). You definitely put a fresh spin on a subject which has been discussed for a long time. Wonderful stuff, just great!|

  107. Asking questions are actually nice thing if you are not understanding anything completely, except this article provides fastidious understanding
    even.

  108. Your style is very unique compared to other people I’ve read stuff from. I appreciate you for posting when you have the opportunity, Guess I’ll just bookmark this blog.|

  109. Myron says:

    Touche. Solid arguments. Keep up the great effort.

  110. Thanks , I’ve just been looking for information approximately this topic for ages and yours is the best I’ve found out till now. However, what concerning the conclusion? Are you positive in regards to the source?|

  111. pet service says:

    Hello, I log on to your blog daily. Your writing style is awesome, keep up the good work!|

  112. travel deals says:

    At this time I am ready to do my breakfast, when having my breakfast coming again to read further news.

  113. Fichamento says:

    Wonderful article! This is the kind of info that should be shared around the internet. Shame on Google for not positioning this post higher! Come on over and discuss with my site . Thank you =)|

  114. Latasha says:

    After looking at a handful of the articles on your site, I
    honestly appreciate your way of writing a blog.

    I saved it to my bookmark webpage list and will be checking back soon. Please check out my web
    site too and let me know what you think.

  115. I’m really loving the theme/design of your weblog.

    Do you ever run into any browser compatibility issues?
    A handful of my blog readers have complained about my blog not
    operating correctly in Explorer but looks great in Opera.
    Do you have any advice to help fix this issue?

  116. Diane says:

    My brother suggested I might like this blog. He was entirely right.
    This post actually made my day. You can not imagine just how much time
    I had spent for this information! Thanks!

Leave a Reply

Your email address will not be published.

Top