What are you doing to better your business?

4 Replies

What are you doing today to better your business? I've got a list of 10 banks im calling today to try to get a line of credit on a leveraged rental property! interested to hear what others are doing!
I'm preparing to move my family to Florida and will continue to analyze deals down there this after. I also spoke with a new commercial lender, just to always have options.

1. Having multiple lenders to pitch deals to

2. Having great interns to strengthen our team and our bandwidth

3. Diversifying into vacation rentals

4. Reconciling all payments to subs vs their budget and not just blank payments against a total budget

5. White board at every flip with meeting area

6. WEekly email summaries of timeline and budgets to subs

Onward!

sjw

@David Sanford what I mean by 4. Reconciling all payments to subs vs their budget and not just blank payments against a total budget this is:

1. Agree on a budget for the rehab upfront

2. When work is being done, and the contractor asks for a payment, it should be for specific work that is being done and for the budget allotted. 

3. It should not be a general payment towards towards the total amount

4. Do not pay final portion of say 'Floor Install' until it is complete. 

Got it?

Thanks!