Jon Steingraber

We have a renovated home that's not at the top of the market. And that's what people love. People love that because there's not a lot of inventory out there.

We have a renovated home that's not at the top of the market. And that's what people love. People love that because there's not a lot of inventory out there.

Speed up. So logistics, right? So we bought a 36 foot trailer. You know, if you're in the business, it's not a bad idea to do this. And we put all of our supplies there. Now, look, I didn't have a 36 foot trailer when I first started doing 24 hour flips. I rented a 24 foot U-Haul.

Speed up. So logistics, right? So we bought a 36 foot trailer. You know, if you're in the business, it's not a bad idea to do this. And we put all of our supplies there. Now, look, I didn't have a 36 foot trailer when I first started doing 24 hour flips. I rented a 24 foot U-Haul.

Right. So we would literally put everything there. And then the U-Haul is in front of the house. You open it like it's a storage facility. You can even do a pod.

Right. So we would literally put everything there. And then the U-Haul is in front of the house. You open it like it's a storage facility. You can even do a pod.

Right. And you have all the materials there for the whole job. So you have an inventory list.

Right. And you have all the materials there for the whole job. So you have an inventory list.

Right. And you have everything there and you have some extras of stuff. Right. Yeah. Right. So just so you're not constantly running back and forth. You're always going to have to go to the supply house store. That's why we have our runner. You know, but the idea is that you think through everything. Right. And you plan it. And then when you're a lot of people are waiting on material.

Right. And you have everything there and you have some extras of stuff. Right. Yeah. Right. So just so you're not constantly running back and forth. You're always going to have to go to the supply house store. That's why we have our runner. You know, but the idea is that you think through everything. Right. And you plan it. And then when you're a lot of people are waiting on material.

So, you know, if I know that my windows are five weeks out, I'm going to order them before I, you know, when I know I'm going to buy the house, I'm going to order it ahead of time. A lot of times people tend to close on a property. And then they're ordering stuff. And then they find out, oh, this specific cabinet is six weeks out. It's like, okay, but what is the cost of that?

So, you know, if I know that my windows are five weeks out, I'm going to order them before I, you know, when I know I'm going to buy the house, I'm going to order it ahead of time. A lot of times people tend to close on a property. And then they're ordering stuff. And then they find out, oh, this specific cabinet is six weeks out. It's like, okay, but what is the cost of that?

Hold time and market risk. Because it's not just the holding cost. Interest rates go up. Things change, right? If some sort of global event happened, it's going to affect you negatively. And you're putting yourself at risk.

Hold time and market risk. Because it's not just the holding cost. Interest rates go up. Things change, right? If some sort of global event happened, it's going to affect you negatively. And you're putting yourself at risk.

I'm guessing some of you... That's the cheapest, right? You could get a Home Depot line of credit. You can put stuff on your credit card. You have a 28-day grace period. If you're a new business owner, you can get a 0% credit card for 12 months. I mean... I agree with you, right? That's the least... The materials are the least of your capital raise, right?

I'm guessing some of you... That's the cheapest, right? You could get a Home Depot line of credit. You can put stuff on your credit card. You have a 28-day grace period. If you're a new business owner, you can get a 0% credit card for 12 months. I mean... I agree with you, right? That's the least... The materials are the least of your capital raise, right?

Yeah. 15 or 20 grand. Yeah. Right.

Yeah. 15 or 20 grand. Yeah. Right.

Here's the thing. Divide your after-renovation value by your profit. You know, when I do my numbers, when I buy a house, it's a minimum of 10%. You know, if I'm going to resell a house for 800 grand, I need to make a minimum of $80,000. That's right. Because God forbid anything were to happen, right? You know, and you might go over on construction a little bit. The market might shift a little bit.

Here's the thing. Divide your after-renovation value by your profit. You know, when I do my numbers, when I buy a house, it's a minimum of 10%. You know, if I'm going to resell a house for 800 grand, I need to make a minimum of $80,000. That's right. Because God forbid anything were to happen, right? You know, and you might go over on construction a little bit. The market might shift a little bit.