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Updated almost 8 years ago,
Our first flip was listed today!
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.