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Updated almost 8 years ago,

Account Closed
  • Investor
  • South Jordan, UT
34
Votes |
86
Posts

Our first flip was listed today!

Account Closed
  • Investor
  • South Jordan, UT
Posted

We sure learned a lot over the last few months.  A few key take aways as we listed our first flip in East Salt Lake City, UT today (2 others will be listed in the next 6 weeks).

1.  Management.  We found that if we didn't manage our crew, they wouldn't get things done.  To think you can just delegate key decisions to a GC is naive.  Manage the project, or it will manage you.

2.  Investor Relationship.  Our investors live at a distance, so to keep them in the loop, we created a shared google drive folder.  We include pictures, a property P&L, and receipts.  That way, they see exactly what's going on in their deal.

3.  Little things make a big deal.  The direction of the tile.  The color of the grout.  The shade of paint.  It all matters.  We created a culture in our crew that these little things make a big difference.

4.  Pipeline.  We let our pipeline go a little bit......and now we're looking for our next deal too late.

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