Invest the time, do the due diligence and definitely speak to people who have worked with your prospective contractor or subs in the past. Again, spend the time on this... there is no better use of your time (yes, I'm talking from experience and have paid the dumb tax of not doing this enough!). If I look at the projects in the past that have not gone well, 90% of the time it was been related to the contractor or subs… whether it was not showing up, taking twice as long, doing shotty work, changing the scope and/or costs/change orders... it all adds up.
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Quick Tip #001 | Don't leave the appraisal to chance
Dealing with appraisers and appraisals on your deals can be tricky. Obviously there are lots of regulations related to appraisals so you will have to check with your RE advisors to be sure any of the info I'm about to sh
Quick Tip #002 | Are you making this mistake as a real estate investor?
Be sure to use your own title and escrow officer! As an investor you want to work with title and escrow people that understand how to work with an investor AND ones that are doing construction or include a renovation. Wh
Quick Tip #003 | As a real estate investor, are you focused on the right stuff?!
Are you focused on the right stuff?!! So many investors, and I was one of them, focus solely on rate and points…. and pay less/no attention on... extensions, loan term, fund control, and the one I like the most is - What
Quick Tip #005 | Get 'additional square footage' by creating outdoor living spaces
One way to get 'relatively' free square footage on your project is to include a covered outdoor living space. If the cost structure makes sense and the market will pay for, I always try to include an arbor or overhang on
Quick Tip #006 | Real Estate Titans book excerpt on mindset
Do you have the right mindset for Real estate development? Don't let negative thoughts or challenging situations crush your mood or put you in a non creative state. Issues ALWAYS come up, and the successful developers kn
Quick Tip #007 | Real estate flippers - maximize your exit by fixing functional obsolescence
If you make this mistake, it could cost you dearly! Now more than ever, you should plan to fix the functional obsolescence of your project. When the market was going up and to the right you could almost get away with any