Having The Courage To Buy In Bulk
This strategy is not for the timid investor. You have to have confidence in yourself that you will be buying and selling lots of houses throughout the year. If you're buying one or two this is not for you. But if you're planning to buy 6 or more then read on.
Almost every house we buy needs the same things done: paint, carpet and tile, appliances. Instead of buying these items each time you buy a house buy them in bulk and buy the same colors. I know one investor who buys carpet by the roll all in the same color (light brown -Neutral). He puts this in all the bedrooms and living rooms if they don't get tiled. His carpet guy keeps it for him and he is buying it for 50% of the floor price, delivered and kept in a safe place. Since it's a neutral colors nobody complains and he save $$$. Same with the paint and tile: he buys both by the pallet and saves big $ and his installers keep it for him as well. Appliances are another story. If you buy them in packages and all the same color you can save big. I have done this in Atlanta and now I buy them for Florida in Fort Myers and they will deliver them for free. I can recommend Appliance Depot; they are great to work with. My A/C guy, Bret Summers, keeps an eye out for scratch and dent deals and calls me. Last time I saved $ 650.00 because the A/C had a big dent in it. Absolutely nothing wrong with how it performed. So just look around, saving are everywhere.
Dori's corner
Hello REIA members! I hope you're having a good month.
This month I spent a few days looking at houses. Boy it's tuff out there: I'm working with an investor/buyer and almost all the homes I saw were full retail or complete disasters which won't work for him. But we got lucky. We have a good relationship with another realtor who got a new listing and he called us before it went on the MLS. Our buyer loved it and made a full price offer on the house. It needs lots of cosmetic work but that's what he likes so it will take him about 2 to 3 weeks to get it ready for market. We are already looking for end use buyers. As investors we need to work with other investors and realtors. These relationship will only help you find and sell your houses faster. Every investor should be working with 2 realtors and treating them well, not abusing them. And they should have 2 or 3 other investors that they work with helping sell each others houses. If you have a buyer and your houses don't work maybe your investor friend's will. Flip it to him maybe they will buy his house. And ask for a little love back as well. Dori
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Quotes of the Month
Be not afraid of greatness: some are born great, some achieve greatness, and some have greatness thrust upon them.
William Shakespeare
The history of the world is but the biography of great men.
Thomas Carlyle
A leader is a dealer in hope. Napoleon Bonaparte
If your actions inspire others to dream more, do more and become more, you are a leader.
John Quincy Adams
The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy.
Martin Luther King Jr.
