Jon Steingraber

And the reason why I have a project manager and not, you know, just do subs or not just do a GC is because we all have to understand that contractors are inefficient. So by actually having all the materials, you're making them more efficient because they typically will send a guy or two to like help to Home Depot for hours out of the day, multiple times. Yeah.

And the reason why I have a project manager and not, you know, just do subs or not just do a GC is because we all have to understand that contractors are inefficient. So by actually having all the materials, you're making them more efficient because they typically will send a guy or two to like help to Home Depot for hours out of the day, multiple times. Yeah.

Just think about how much is lost during that. That's right. And over and over again, compounded over the job. And you're paying for that. That's right. Even if you're not paying people per day, you're still paying for that.

Just think about how much is lost during that. That's right. And over and over again, compounded over the job. And you're paying for that. That's right. Even if you're not paying people per day, you're still paying for that.

Everything adds up and you have to reduce your profit destroyers. Like my business model is a little bit different than yours. And, you know, my goal is to do 10 to 15 flips that net a hundred thousand dollars or more per year. Or per deal, right? So if I can, I'd rather do one $100,000 profit deal than three $35,000 deals. That's right. You know, it's just an efficiency thing, right?

Everything adds up and you have to reduce your profit destroyers. Like my business model is a little bit different than yours. And, you know, my goal is to do 10 to 15 flips that net a hundred thousand dollars or more per year. Or per deal, right? So if I can, I'd rather do one $100,000 profit deal than three $35,000 deals. That's right. You know, it's just an efficiency thing, right?

And I go after more affluent areas. Why? Because less people are marketing to those areas because most people are buying in the lower priced areas. So I have less competition. I buy in the higher end areas and private lenders, which is what I use, like to invest in high-end areas because they're like, oh, I know that town. That's a great town. I'm like, yeah. And they're like, yeah, let's go.

And I go after more affluent areas. Why? Because less people are marketing to those areas because most people are buying in the lower priced areas. So I have less competition. I buy in the higher end areas and private lenders, which is what I use, like to invest in high-end areas because they're like, oh, I know that town. That's a great town. I'm like, yeah. And they're like, yeah, let's go.

It's just all around, it's different. So you have to decide on your business model and how you want to do it. And I don't leverage the fact that I'm on a show and all that stuff, and that's why people lend me money. I've been borrowing private capital since 2007, when I was 21 years old. So anybody can do it.

It's just all around, it's different. So you have to decide on your business model and how you want to do it. And I don't leverage the fact that I'm on a show and all that stuff, and that's why people lend me money. I've been borrowing private capital since 2007, when I was 21 years old. So anybody can do it.

And if you need to start out with a hard money lender, putting 10% down and taking the construction draws, whatever, you get a couple of deals under your belt. But if you show that this level of efficiency, even if it's a 30-day... right now that's better than what most people are doing that's right and the model makes more sense

And if you need to start out with a hard money lender, putting 10% down and taking the construction draws, whatever, you get a couple of deals under your belt. But if you show that this level of efficiency, even if it's a 30-day... right now that's better than what most people are doing that's right and the model makes more sense

I always had that same concept too. And then, you know, when inflation started getting crazy, this is just my opinion. Sure. Yeah. Affluent people are less affected by inflation.

I always had that same concept too. And then, you know, when inflation started getting crazy, this is just my opinion. Sure. Yeah. Affluent people are less affected by inflation.

And people that are in the $200,000, $300,000, $400,000 range, and in New Jersey, that looks like a $500,000, $600,000 range because the prices are so high. At least in my area of New Jersey, they're a lot more affected by inflation. Yeah. So, and the interest rates being at 7%, which they are right now. Right.

And people that are in the $200,000, $300,000, $400,000 range, and in New Jersey, that looks like a $500,000, $600,000 range because the prices are so high. At least in my area of New Jersey, they're a lot more affected by inflation. Yeah. So, and the interest rates being at 7%, which they are right now. Right.

So that was always, you know, the idea, because I don't see a slowdown in the $1.5 million, $1.2 million, $2 million homes.

So that was always, you know, the idea, because I don't see a slowdown in the $1.5 million, $1.2 million, $2 million homes.

Yeah, most people are buying cash.

Yeah, most people are buying cash.