Another Great Week of Real Estate - March 16, 2024
Switching Contractors: We are officially switching contractors on latest rehab project. While the previous contractor attempted to finish the project, I am still owed a couple thousand and will most likely pursue legal action. My new contractor starts Monday and I'm hoping we can finish this project and get it listed before the end of the month!
EMMY TIP: I'm going to use an escrow company for my next construction project. I've never tried this before so I'll keep you posted on costs and how it goes!
Gut Rehab Project: We continued getting bids on gut rehab project that's scheduled to start in May. We are at $75,000 for the rehab without the kitchen and bathrooms [sad face emoji]. Our budget for the entire rehab was $75,000. If we can't get the budget down, we may have to pass on the project.
EMMY TIP: If you have a great deal but feel rushed, trade time for money. Pay for contract extensions and never allow yourself to be rushed with any investment.
Side Projects: While real estate is slow, I'm pursuing some side projects as well as a full time job. My goal is to get these businesses profitable by the summer.
