Total Property Remodel? Follow this Plan for Success

For those of us who remodel and do big projects (like whole houses or apartment buildings) this information is priceless. The logical flow of a project is one of the most important lessons you can learn, doing things in the right order can save you thousands of dollars, lots of headaches and time. Time in a remodeling project translates directly in to dollars - usually hundreds if not thousands! We develop a plan for each project, planning is important, as someone said - Failing to Plan is Planning to Fail. I don't know who said that but they knew what they were talking about.

You want your financial partner not just comfortable but happy loaning you money, always have a written, professionally presented, detailed project plan. Your plan should include a time line, along with supplies and contractor's names (if you aren't doing it your self), costs and end results. Do not "fudge" on your plan, to put it simply "fudging" is lying.

If you under fund the project you could end up with an incomplete project, we see this more than we should - we buy these projects - usually at a discount! We calculate a 25-30% over run, and it is noted as "overrun" on our plan to our financial partner - this covers an increase in lumber, other materials, demo surprises and other items.

Check out the link by clicking on the title and check back to see what we have to help you in your Real estate investing adventure!

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