In my book, “Long Distance Real Estate Investing,” I delve into the intricacies of managing contractors remotely. It requires a delicate balance: closely overseeing their work while granting them the autonomy to make some decisions independently. Striking this balance is crucial because, while they shouldn’t feel micromanaged, the reality is that their work needs to be closely monitored.

I’m currently working on my next flip in a state where I don’t reside. Fortunately, I’ve built a relationship with an exceptional contractor who is both efficient and honest. However, this isn’t always the case. Here are the non-negotiables I establish with every contractor I work with:

  • Explicit Scope of Work: Clearly outline the tasks the contractor will perform.
  • Detailed Work Descriptions: Have the contractor explain the specifics of each task for every draw.
  • Incentives and Penalties: Offer small rewards for timely completion and impose penalties for delays.
  • Proof of Work: Require photos or other proof of completed work for each draw.
  • Regular Communication: Stay in close contact and never go more than a few days without touching base.

By adhering to these guidelines, you can maintain control over your projects while fostering a productive and trusting relationship with your contractors.

I want to answer your questions! I want to hear the questions you have about real estate, being an agent, saving money, markets to invest in, where to invest, how to invest, how to get started, joining Spartan League, etc. We’ve created a place for you to submit your most burning real estate questions. If you’re feeling adventurous, you can even submit a video question. Soon, I’ll be launching a new podcast where I’ll be answering your questions live. ​CLICK HERE​ to submit your questions and see them on a future podcast episode!

Nearly two-thirds of Americans view inflation as a very serious issue heading into the November election, with voters more inclined to trust former President Trump over President Biden to address it, according to a new YouGov poll. The poll revealed that 64% of respondents rank inflation as their top concern among 25 issues surveyed, followed by corruption (57%), drug abuse (56%), and homelessness (55%). A partisan divide is evident, with Democrats prioritizing gun violence (76%) and climate change (70%), while Republicans focus on inflation (82%) and illegal immigration (79%). Notably, 60% of those concerned about inflation approve of Trump’s handling of the issue, compared to 15% for Biden. The poll, conducted with 2,272 adults between July 1-6, has a margin of error of 2.8 percentage points.

Freddie Smith, a realtor from Orlando, predicts a trend of Americans relocating to more affordable housing markets, driven by soaring home prices and limited supply. Smith, a popular TikTok creator, mentioned on “Varney & Co.” that despite the reluctance to leave familiar surroundings, many may move to places where homes are still available for $250,000 to $300,000, which is more feasible for younger generations. Data from Redfin showed the median U.S. home sale price reached a record $397,954 in June. A separate report by Realtor.com highlighted a 34.3% decrease in available home supply since early 2020. Smith advised potential buyers to increase their income, save more, and pay off debts. A Stateline analysis found a growing trend of Americans leaving Democratic-run cities for Republican suburbs to find lower taxes and affordable real estate. Notable affordable markets include Lauderdale Lakes and Lauderhill in Florida, as well as Akron, Detroit, and Rochester.

Congratulations to Katya and Samuel on their exciting new venture! They’ve recently purchased a land park renovation gem with immense potential. This charming property, nestled in a fantastic location, promises to be an ideal home as they embark on their renovation journey. Katya and Samuel have a clear vision for transforming this space, blending modern amenities with the property’s historic charm. Their dedication and creativity will surely turn this gem into a masterpiece over time. We’re excited to see the incredible changes they have in store.

If you’re interested in buying or selling your property, reach out to info@davidgreene24.com for the best service around!

Conventional: 7.375%

VA: 6.490%

FHA: 6.49%

DSCR: 7.375%

If you’re in the market for a loan and need assistance, our team at The One Brokerage is here to help. ​​Visit our website here​​ to explore our loan options and find the right financing solution for your real estate goals and email us at ​intake@theonebrokerage.com​ to speak to one of our loan officers.

Our Spartan League members are continually growing and learning every day. In our latest call, long-time member Maria delved deep into discovering her “why.” It’s a more challenging question than it seems when you truly dig into it. However, once you uncover your true “why,” everything else tends to flow naturally. Listen here to see what Maria shared about her “why.”