Hi, it’s Lou Brown. I’m back with another of my 101 cash flow generators, planning for you to make more money with less effort. This is a great one and it is always has a budget. You know, a lot of people jump into a renovation. They really don’t know what they’re gonna do or how they’re gonna do it. They just decide along the way, which is a really bad plan.
So my advice is to do your homework, design the house the way with the end in mind. Always know what materials you’re going to put into it and how much you’re going to spend, otherwise, you can spiral out of control. I’ve watched many people crash and burn. You know, they watch TV, they think that they are now in a renovation business. It looks so easy. It’s amazing how they’re able to do all of those months of renovations and just half an hour isn’t it? And many times you can see the pain and suffering that people go through in their renovations. Way overspend, tear out things they shouldn’t have torn out, and really not taking advantage of the fact that you need to be making a profit. Well, hopefully, that is helpful. In my renovations, volume 11 I have an entire budgeting tool where you’re able to go room by room, item by item, identify exactly what needs to be done per trade so that you can budget accordingly. That’s it. Streetsmartinvestor.com click on tools and you’ll see renovations volume 11 and I’ll see you soon. Like it. Love it. Share it and take care.