"I am currently working on multiple active rehabs. I’m tired."
Have you ever read one of those fiction books which allow you to choose your own ending?
They are fun!
My daughter came down the other day after digging around in her books for something for us to read together and presented me with this silly space odyssey book that allows you to choose how you advance in the story after each chapter.
We had to make decisions based on very little information, mainly on how we felt about that decision and what we hoped the outcome would be. “You are stuck in a vortex of space debris, do you hit your accelerator button that can only be used once, or do you call back to your home ship for help?”
You get the idea.
It was interesting that she presented me with this book because only a few days earlier I had the idea that I would share this story I am about to share with you today and I thought it would be fun to frame it in a “you pick your ending” format. So when she and I read this cute book and found out our fate based on those decisions we made each chapter, it just made sense that this story should be told the same way.
What is the story about you ask?
Well, perhaps it’s about you.
I have created a fictional character and fictional story, but it is based on someone I know and his real life story.
A real estate investor. Fix and Flip is his main focus.
We’ll call him Paul.
Paul has a THRIVING real estate business. I say thriving because it is fun to watch him grow his business and have so much success with his flips making money and growing and scaling.
I like Paul. He is fun, has a great attitude and for the most part is pretty savvy business owner.
There is one thing Paul is struggling with right now however, he is an overworked, tired, DIYer. When I say DIYer, that doesn’t mean that he is doing all the work on the rehabs himself, he is wise enough to employ contractors to help with the renovations, acquisitions people to help him buy houses, marketing experts to bring him leads etc. However, he is still a DIYer in several areas of his business which are running him ragged and creating chaos in the business and even in his personal life.
There is one area where he is holding on tight to the “bottom dollar” and refusing to invest in a professional service/product that will leverage his time.
What is that you might ask?
Paul believes that he has a pretty good eye on design. Perhaps he does. His houses sell pretty fast.
Let’s say for the sake of argument that Paul is pretty good at picking out all of his fixtures and finishes. Let’s say he has figured out how to create DREAM HOMES for his market of home buyers and he is making money on his flips.
So, then, what is Paul’s problem you might ask?
Well for starters, selecting fixtures and finishes for your rehabs is pretty time consuming and it actually takes a lot of mental energy deciding on which finishes will work and look best together. Then once you do finally make all of the selections, you have to find a way to get them out to the site in time for your trades to install so you don’t hold up the job, then you need to be sure that everything does actually look good installed (because inevitably every so often you find that one selection that is hideous-hopefully not often) and the list goes on.
So here we have a busy, thriving fix and flip real estate business run by our friend Paul. However, given the above…
…Paul is tired.
I know this because he told me so.
Here’s where things get interesting in this story. Paul knows about a tool that can help him save SOOOOOOOO much of his time.
This tool will take all the mental guess work out of making finish selections for his flips, it will make it easy for him to order everything and have it on the job site in time and it will relieve the anxiety of having to put together the documents in a way that make it easy for his contractors to execute.
Imagine you are Paul and you are at this same crossroads:
Do you: Purchase the tool even though you have a hard time coming to grips with spending the money because even though it is more money than you would like to spend, you do the math and discover that your time is far more valuable than the price of this tool. (Go to ENDING #1 for the ending of your story)
Do you: Decide it is just too much money, put off purchasing the tool and go it on your own? (Go to ENDING #2 for the ending of your story)