Hi it’s Lou Brown. I’m back with another of my 101 cashflow generators where you can make more money and less effort in a single bound.
Oh we are sharing with you today number 78 of my cashflow generators and that is renovate the property for the buyer that you want. Now I’ve done many, many renovations and it’s been really exciting to watch how this is evolved in my life. I used to fix up the properties the way I liked it and would sell them. It was great, but what I realized is I needed to start marketing the property right away so that I could find a buyer right away and then they would be able to select the paint colors, the carpeting or flooring. They could choose the cabinets, the countertops, the sinks, the faucets. So what I did is start with a budget and then if they wanted something different they could pay for that. While it was wonderful and also as able to collect, a nonrefundable earnest money during the renovation. It’s a great way to do your business. Make sure you have a customer before you do the renovation.
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