To be or not to be?

[Chelsea Newton]

As an aspiring real estate investor, I attended my first REIA meeting yesterday and it was awesome! So many people came up and talked to me, and gave me business cards and such after the meeting. One thing I quickly realized is that I needed to start my business asap, even though I don't have the money to start investing at all! But I've learned that you just have to get something started now.

So I have been thinking about the kind of RE business I want to start and how I want it to be perceived. Now my end goal in this whole thing is to have a certain lifestyle and not necessarily all the money in the world. I want just enough money to maintain the lifestyle that I dream of. No boss, time with my family, comfortable living, and most of all to spend my work hours driving around seeing all of my properties grow into beautiful family homes. And lots of trips to home depot...lol I love home depot!

My point is my real passion is designing and creating a certain kind of home that I know families in my market will love. I want to wow them when they come in so that its one of those "we have to have this house" deals. So many of the house flippers I see in REI just want to get in cheap, get our cheap, get there money and run. But I want a reputation in my area of beautiful, functional, affordable houses that are more than the standard flip basics. So I want my business to reflect that in every way. Do you think that being a little decorative in my business will just be a waste of time, energy, and money? I think this is the exact thing that will set me apart from all the other investors in my area. I am also concerned that I may just have a woman's point of view, but in the end which sex is it that "falls in love" with a house...? So to be a one-of-a-kind decorative flipper or to do it old school, follow the rules, get in and get out?

....that is the question.

[Will Barnard]

Doing it right and better than the competition will certainly set you apart and likely bring you both quicker sales and higher price points. That said, this IS a BUSINESS and the point of it is to make money. So, cost is ALWAYS a factor. Can you make your home more desirable than the next while sticking within a budget and remaining profitable? You can if you do it right. That takes the right team, right contacts, right abilities, right design, etc.

I have always prided myself on working within this format and my homes (not even counting the high end multi-million dollar stuff that requires only the best) have always sold quickly and for top dollar because there was nothing for the buyer to find to complain about. I have seen some pretty crappy workmanship from other rehabbers, poor design, poor color choices, not fixing bad layouts, etc and they just don't get the same pricing they could have from doing it better.