We all have a talent to bring to the world of real estate investing. For some, the investments are passive, others bring a far more active role to the mix.
Do you regularly ask yourself what your unique value proposition (UVP) is to the equation of the deals that you are working?
Contractors bring knowledge, skill and expertise to rehabbing a property. Real Estate agents can bring analysis of the market and upside potential along with their deal finds. Money guys bring, well, they bring Cash. Cash is king and that, for some deals, is their UVP. Time is an asset, seriously. Those that have time to spend finding deals can spend that time driving for dollars, going through dozens of foreclosures, etc. Time is money and money should be spent on someones’ time.
So ask yourself at the end of the day…what is your UVP?
Far too often, I have run into flippers that want to hire the process of finding deals, getting hard money to fund, hiring the contractors and still expecting a large return at the end of the project. They almost expect to put down and $1000 earnest deposit and receive 20-25% return on the sale. I
have had some of these clients.
You need to have an expectation that the people that you associate with in your deals, whether they are contractors giving you a good product for the right price, or the banker willing to lend on your deal, or the real estate agent that brought that deal to you, that they are adding expert value to your deal.
What Are Your Bringing to the Table?
At that very same time, you also need to bring value to the …read more