@Anonymous wrote:
@Anonymous wrote:The kicker is that the rewards received have to exceed the merchant fee. That is very easy to do with CCC's who are in the industry solely to lose as much money as possible.
Agreed, i think if someone is wanting in on the "points" game, they should be looking at regular spend at wholesalers and other places. Not having to go through services or on large amounts where the fee will be passed onto the cardholder.
OP that is nice looking house. May I ask how much hands on you are in the rehabs? I;ve had thoughts on doing the same thing, but cannot decorate to save my life. I also no longer have the time to commit to such endeavors, so i would need to hire contactors which would eat into profit margins.
That house I did pretty much everything myself on with the help of one assistant, except for mechanicals. Took us a long time. This was the house that almost ruined me. I bought it in 2017. It caught fire one week after I closed. Decided to rehab it to and get full insurance payout instead of just taking partial insurance payout money and walking away. Worst decision I ever made, but glad I did as it taught me some incredibly hard lessons that I'm glad I learned early on.
Fire wasn't too bad, but when fire dept put it ut, water got behind walls and fried old knob and tube electrical. Had to open walls up to replace, at which point the whole entire house is no longer grandfathered in and everything has to be brought up to code. City made me bring literally everything up to code, from foundation, to framing, to electrical, to plumbing, to HVAC, to reframing roof damaged from fire, to new garage slab, new garage, new sheathing, new insulation, new siding, etc, etc. It was a nightmare. Literally demoed 100 year old house and re-built it from ground up. Could have done a whole season of this Old House. But it was also the first truly gut rehab I'd done and also the last. While I'd done a few dozen rehabs before this, they were all cosmetic to advanced cosmetic. Learned so much on this house.
If someone can tell me how to upload photos here, I can upload pictures of house from right after fire.
I do all design work on my houses. Isn't too difficult. Just find what is working for other people, whether that be in your area or google and copy them. Diane Hendricks in a billionaire from my area. She flipped two houses two blocks down from this one using one of her construction companies. I simply copied aspects of her design in this flip. Look at what houses are selling in your desired price range in your area. Simply copy those designs and color schemes. For construction, design, and real estate, I've literally learned everything from a local mentor, Google, or YouTube.
Contractors are key. A good one is worth their weight in gold and about as rare too. Another reason why I rehabbed houses by myself as long as I did. But I slowly built up network of excellent GC and subs. And great contractors tend to work with other great contractors. It was all referals from there and now I simply act as project manager and design role for rehabs, also helping with logistics.
