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Re: littlefish post# 2572

Friday, 04/13/2012 10:38:23 AM

Friday, April 13, 2012 10:38:23 AM

Post# of 2684
Yikes I would not know how to address your question, as I would not try that model if potential profits were double your projected figures.
Maybe I can offer some insights just looking at yesterday when a neighbor who paid 15000 for a cabinet and 10 feet of wardrobe doors with no back and a new safe (the main cost 10K).
The Co. which was contracted to do this work is considered high end, working for wealthy clients.
When I got to the apt. I met the surly worker with his helper who spoke no english. The wood for the shelving was the cheapest wood one can find, a quality slightly lower than IKEA. The doors all had imperfections, laminated coats were sprayed on to wood without proper sanding ( they had to be replaced). The safe door was marred and had to be replaced. Through out the day the workman left tools on bed and borrowed our dustpan which we later located in our neighboor's sink.
I cannot say more as I only use people I know and still do not let out of sight unless I am willing to accept excess do overers at my expense as some work must be caught early.
This model works best when you get a property for almost nothing and people are content to live with many imperfections, the way I do when I go to a cheap motel , never focusing on the decor. The model also works when you buy a property which is rapidly rising in price so that just keeping it for calander spans will result in great profit as new buyers will pay more and gut your place to match their new needs.
Now if I were in a position to own 30 buildings I would need a different model, I would have to have a supervisor I trusted to be my eyes and the cash flow would pay for such a business model.

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