Bridge Street

11/25/24

A mentor of mine some years ago taught me a lesson about buckets. He explained that each deal you come across will have different exit strategies (these are the buckets) It's your job to determine which "bucket" will make you the most money. 

Doing a novation is the bucket that makes the most sense on this property I recently purchased. I teach my students that a novation is where you connect with a local contractor where they do the work and you both split the proceeds how you see fit when sold. 

This is a win win because they will get paid out far more than if you paid them outright to do the work and you can keep the materials and labor costs on hand while also not having to lift a hammer. 

Creativity is how you make money in this line of work.