Hi, it’s Lou Brown. I’m back with another of my 101 cashflow accelerators to help you be more successful in your real estate business. Well, make sure that when you are dealing with a contractor in this section, we call this renovation or success or renovating for success. Let’s be sure that we not only enter into a contract with the contractor, but we know exactly what they’re going to do with that contract. Now what I recommend is you actually do your homework and that means go through the property yourself, not with the contractor, I mean yourself, and literally break it down. What do you want to be done in each room and what do you want each trade to do in each room? So what I did in my renovation system, volume 11 what I did was actually determined each one of the different trades and then determine what they would do in each room.
And I wrote it out so that besides that you could determine what you wanted to be done on a particular thing such as baseboards, such as crown molding, such as doors, windows, etc. All those things are broken down, room by room and item by item so you can simply type in what it is you want to be done next to that. Now when we hire the contractor and we get three different bids, each one of the contractors is given exactly the same set of guidelines so they can’t twist it and turn it and make it apples to oranges instead of apples to apples to apples. That’s what you really want when determining who you want doing your project and whether you’re getting the right price. Hopefully, this has been helpful to you. My name is Lou Brown. Look forward to seeing you soon. Visit our website, StreetSmartInvestor.com visit our YouTube channel, StreetsmartInvestor, and I hope to see you soon. Yeah, baby.
If you want to listen to our Podcast, click here: