I am a Savvy business women. One of the ways in which I can offer a high-end look at my rentals and renovation projects for “pennies” is by shopping around for great deals.
I know where to look and when to look to find floor samples that are going to be marked down 50% or light fixtures that will be turned over and discounted by 70% or mis-mixed paints that you can buy for $5.00 per gallon.
It’s fun and profitable as every penny saved drops to the bottom line.
The biggest find are the auctions that come through our area where I am able to get huge brand new kitchen cabinets that I can divide into three kitchens. I bought two kitchens at the last auction one for $1,800 and the other for $2,500. I also picked-up slabs of granite for $275 per slab. I have been able to get them as low as $100 per slab depending upon the auction. I also found an amazing stone cutter who cuts out my sinks, drills out the holes for the faucets and installs the granite for $300 a kitchen. I end-up with a brand new kitchen with granite counter tops for about $1,800 installed. I’m actually able to do the granite for the same cost as formica – savvy, savvy, savvy
I watched several of my fellow real estate investors become bankrupt because they didn’t understand the importance of creating a budget and sticking to it. There are enough surprises when you do a project one of them doesn’t need to be that you didn’t forecast materials and contract costs to bring your project to market.
Being Savvy pays off big in the business of real estate investing.