(This post is from back in June, but since I haven't had a chance to compose anything in a few days, I thought I might as well publish it now...)
Does anyone else watch all those real estate rehab shows on TLC, HGTV, etc.? We can't resist watching them. We applaud those shows, few and far between, that show realistic profits and follow stories to the end. A deal isn't a deal until you've both left the closing table, and the TV shows often show gross profits before holding costs, closing costs and real estate commissions, which makes the business look like much easier money than it is!
When Richard and the Trademark Properties gang were on Flip This House, we thought they were pretty good. However, the show became increasingly annoying as it began to seem that silly incidents were engineered for the show, and there was a dramatic decrease in actual educational content. (Oh, and don't even get me started about the next company they profiled, the Ultra-Shady Montelongos. That's a whole separate post.)
Now, Trademark Properties has its very own show called "The Real Deal". Richard's current M.O. seems to consist of 1) talking in circles with the intonation of a cheesy motivational speaker, 2) distracting his employees from getting actual work done and 3) busting things up just for fun.
On Sunday Andy and I were working at Durrett. We were talking about how we needed to resell the vanity, sink and mirror we took out of the bathroom. I was pulling up scalloped landscaping bricks and we were trying to figure a productive use for them, especially since they are heavy and kind of a pain to get rid of. Might we be able to powerwash them and sell them on Craigslist? Might we be able to give them away in their current state? When I accidentally broke one, I was a little sad to see something of value destroyed (well, actually I was more upset to see more trash created that would have to be disposed of!).
We're far from experts and I'm not suggesting that focusing on minutiae is wise. But I submit to you that in contrast to Richard, we (along with thousands of other investors) are the real deal. Real investors don't tear things up for fun. They don't spend their time making meaningless speeches. They work hard and make hard decisions about what to utilize, what could be utilized by others, and what needs to be disposed of, and especially what to do, what to hire out, and what not to do.
Oh, and we've yet to throw each other in a pool even ONCE while on the job!
Fun at the Fair
1 year ago