This list could probably be fifty bullet points long and still not enough, but here are some tips, honest mistakes and things I wish someone had told me, or they told me and I didn't hear what they were saying. These are in no particular order of priority but just a reminder for myself as well as I complete my fifth project in four years..

- It always costs more. Like really. Especially nowadays. When I started with my first project in 2018 I can say that materials were considerably less expensive...recently I went to Home Depot and the electrical wire was safeguarded by a metal cage that required an attendant to access. Inflation aside, whatever the material or activity, expect to pay more than your budget or spreadsheet says. A lot more. However accurate you think you are, especially as a newbie, there are so many items that one cannot possibly account for. You'll need tools you didn't know existed and more supplies in the form of nails, concrete, screws, drywall or wood than you can possibly imagine. If you're remodeling, budget more than you expect and look into leverage if and when possible. Not that I'm advocating debt but there are small ways to extend your assets until the returns start flowing. For example Home Depot/Lowes often offer 0% financing for 12-24 months on appliances or materials. Could be an interest free way to finance up to $15-20-30k. If it's an extensive rehab, that is a kitchen or bathroom, or both and maybe you refinance or pay it off early. A used appliance store might even extend payments. There are little ways to preserve or not burn through as much cash, just in case it does in fact cost more. If you have the credit the best time to put it to work is when it is for investment not liabilities.

- Good help is hard to find and harder to keep. Depending on where your are and your level of remodeling experience and resources this one might not be as relevant. But generally speaking you'll need help somewhere, landscaping, plumbing, electrical, these services add up and are expensive. In more ruralish areas just getting worthwhile help to the property can be a challenge or a full time job. The good service providers or contractors are generally in demand and command a premium. If you can afford to work on their timeline and budget do it. A reliable company or contractor will ultimately save you time and ideally frustration. In my experience half rate workers produce half rate work. That's not to say there are not ways to save...

- Become a DIY expert. Listen to podcasts and watch a lot of Youtube. There is unlimited information available on self home improvement and very few things that are beyond the capabilities of someone able to purchase a property in the first place.. Full disclosure consult an expert, but that could be a friend, relative or associate with experience. That said, I had no tools, no truck and no business gutting my first several properties. In previous posts I shared that the slow play, with minimal investment or rehab would have yielded equivalent or higher returns with half the effort or stress. Due to the remote area and extensiveness of construction I was forced to acquire the tools and skills necessary to complete the investment. Since I underestimated the costs, I had to complete portions of the project myself. Additionally even if I didn't continue to use the skillset I figured the familiarity with construction, permitting and contracting would be valuable in my both my real estate and investment business. I can identify problems and am fairly confident in the costs and timeline to remedy or create property. You can learn to tile, paint, design, landscape, carpenter, plumb, light or patch. The best investors do, or at least begin that way, and there is no substitute for experience.

- It will take twice as long. There is a reason all investors tell you the same things. There are exceptions the rule. A very seasoned investor, wholesaler or contractor can get things done more efficiently because they know what to expect and where and when to get what they need. Projects take a lot of planning, preparation and mental, physical and financial energy and resources to complete. If it's an extensive project prepare for it to consume your life, unless you pay someone to produce exactly what you want for you. You will run into, let's just call them 'surprises.' The original sewer line is made of adobe/clay so it's special order coupling. Or you wanted black windows? And even though we discussed and confirmed it, the slider is supposed to open from right to left? Not left to right? Like this one that we just waited six weeks for.. Or we'll need to cut the foundation and install a 10x10 post to help support the ridge of the roof..The point is everything takes time, and the more you get into a transformation the more likely you're to reveal other elements that while you're doing it you should fix now.

- Somewhat contradictory to the above advice, but take your time. Especially with the planning. If you can afford to hire an architect. If you can't afford it, you can't afford not to have it. It will save you time and money in the long run and give you perspective and options you very likely do not see. Depending on the scale of the project it doesn't need to be an A Class architectural firm. You can hire a professional online in another country for a few hundred dollars. I hired a local architect here in Mexico for $1,000. I ultimately didn't even utilize the plans but it was worth the investment as I have a template for the next project and know the true cost of development with a premium and reputable local developer. Architect or blueprint aside the plan or vision is going to change. A good plan will. Property and demolition, and any construction and completion takes on a life of its own. It takes a really good team to produce a really good product. Property reveals the quality of development. It's very difficult to complete a project once you begin. There are many failures on the side of the road to success. Often derailed by unexpected or over investment of expense, time or energy. There is no shortage of stories of those that spent too much, too quickly or it took too long to begin getting paid back. I can show you several examples today or desperate sellers because things didn't go according to plans. Real Estate truly can make a fool out of anyone.

It is very helpful to have a clear road map. Take into account elements that you might not have initially considered. Such as actual location, proximity to hardware stores, availability of reliable workers, extensiveness of the actual project, proximity to your location, the cost and time of transportation, permitting processes, trustworthy or professional local contacts for recommended providers and services, do you know what a septic system is and how it works, can you change a lightbulb? Seriously though if you're going to own property you'll need to be familiar with it. Speak to the people in your circle that own it and have done it. Visit their lands. The longer they've been in the game the more they know because if they're still in the game after all that time they're successful, and it has taken blood, sweat and tears. Patience is absolutely a virtue when it comes to property evaluation and ownership.

- Point 5.1 is to enjoy the process. Not everyone gets the opportunity to own a home or an investment property and even fewer get the chance to remodel or improve it in their image. Wherever and whenever it is, try to not let the intensity of the process and the anticipated results and reaching the goals take away from the enjoyment and experience of the process. There is a lot of value in observation that will reward you beyond the current project. If you're fortunate enough to own and create something worthwhile, trust that you will get what you put in and a result in direct proportion to your effort and effectiveness.

Hopefully some of those older friends and mentors agree with some of these points and the experience will keep me in the game just a little bit longer.

Feel free to share your experience with any, all or others points I might have missed.