Category Archives: Budget

Top 10 Foolish Renovation Mistakes and How to Avoid Them

Renovating your home is almost always a good idea. As we go through life and our families grow, we often find that we want things in our home which we couldn’t afford when it was first built. That leaves us with the choice of renovation or selling our home and moving. Of the two, renovation…
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Sometimes Going Forward Takes Compromise

In my experience, owners have different reasons for wanting to get something built. Sometimes there is a disconnect between what they want to build and what they can afford to build. Recently a friend was working on a project where the owner's design committee stated the budget on the project was up to 20 million dollars. The…
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When do you make money on the property flip?

When do you think you make your money in a property flip? Is it when you buy right or sell quick? I often hear people say, "In real estate investing you make all your money by buying right!" I think that the truth is, "Buying Right" is only part of the 'flipper equation'. Most property flips have…
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How much contingency should you budget for your project?

Every project budget needs money for contingency. What is a contingency? A contingency is a possible future event that can occur - usually it's a problem. Generally, contingencies arise out of 'unknown conditions' or conditions that could not have reasonably been known.  Unknown conditions are a fact of construction and on some projects there is no real way…
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