Ok, its time for our FIELD TRIP to Lowe's and Home Depot!

By
Education & Training

Think back to those glory days of walking to school 3 miles all up hill both ways. When we were young we would watch the clock st school and could not wait until the end of the school day. As adults we, at times, watch the clock at work and can not wait until the end of the work day. Almost like Fred Flintstone hearing the end of the day work bird bell and running, full sprint of course, out of work. :) YABBA-DABBA-DO!!!

The key to anything we want to succeed in is our knowledge of the subject at hand. We can all be experts on what we choose to be whether it be our careers, real estate investing, character's lives on favorite day time dramas, or our players on our fantasy football teams.

So if you are ready its time to ditch school or work because you need to go on a FIELD TRIP! No, not to the mall, but to a home improvement warehouse such as Lowe's, Home Depot, Menards, or your local home improvement center. You can learn so much by going to these places and speaking with the workers about everything from exterior to interior of home improvements. Lowe's even has prices on the shelves for various items to let you know what the labor would be to do an install.  Both Home Depot and Lowe's offers installation services and both offer FREE exterior estimates.

The more you learn, the more knowledgable you become. The more knowledgae you gain the better offers you can make. The key to making offers is knowing what a property could be worth all fixed up and in turn key condition. To be able to do this your Realtor helps you with after repaired value but YOU have to be able to estimate needed repairs on a property. If your estimate for repairs is too high, your offers will be too low.  If you estimate too low on repairs, your offers will be too high.  You need to be able to estimate repairs close, or in the ballpark, otherwise the potential deal may not be the deal you think it is!


The better you become at calculating repairs, the better offers you can make and the more deals you can do. So go out there during your free time and spend some time at your local neighborhood home improvement center. I learned so much talking with the knowledgable staff at my local stores as well as just walking the isles to see the products and services that were offered.  What you learn will be priceless toward your real estate education. Go make it happen today. Go make it a great day! Good luck! Believe and Achieve! :) - Joe

Comments (4)

Kristin Johnston - REALTOR®
RE/MAX Realty Center 262-567-2455 - Waukesha, WI
Giving Back With Each Home Sold!

This is a great post....although I do know some of the estimates, you can always brush up!

Sep 21, 2015 10:24 PM
Joe Jurek
Orlando, FL
Real Estate Investor

Kristin, thanks for the additional input and insight.  have agreat day.  Believe and Achieve! :) - Joe

Sep 21, 2015 10:39 PM
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Joe,

 

I couldn’t agree more. Buyers expect agents to know a lot more than most do about how to do repairs and what it costs. 

Sep 22, 2015 07:10 AM
Joe Jurek
Orlando, FL
Real Estate Investor

David, you are right the Buyers need to be able to calculate their own numbers on repairs based on the extent of the rennovation and the quality of materials can directly impact the overall cost of the project.  Have a great day.  Believe and Achieve! :) - Joe

Sep 22, 2015 10:21 PM