All Forum Posts by: Account Closed

Yes.

In general, most people have a genuine interest in our success.  Agents are willing to help.  Contractors are willing to give bids.  Supplies are willing to lend a hand.

This morning, in one of our flips, we walked into the kitchen and smelled gas.  We called our guy and he came right over.  But why?  Why would he come over to help out, when the project was done?

1.  I think we have a really good crew - a crew that cares about their work product. 

2.  Our commitment to our crew is that we will keep them busy and the work will keep on flowing.

Relationships matter.  So does communication.  Let's be diligent in creating the right kind of each.

First off, I don't really know commercial. I only know a guy who knows commercial. I know retails and office tenants seem to stay longer. As an owner, NNN seems appealing in many ways. Our current portfolio includes performing mortgage notes, lease options yet to be exercised, fix and flips, and buy and holds.

Our next step in this process, we feel, is to get into the commercial game.

We have kicked around the idea of creating a path to purchase a few Class A commercial real estate buildings.

What are the risks?

What are the benefits?

How do we go about it (if we would like to have ownership/equity in these deals?

Thank you, Steve.

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.