Budget Archives

Sometimes Going Forward Takes Compromise

Posted by richardcartright

· June 30, 2016

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People have different reasons for wanting to get something built. Usually, 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 for a non-profit, where the design committee had stated that the project budget was 20 million dollars. The project was well into designs and…

Top 10 Renovation Mistakes and How to Avoid Them

Posted by richardcartright

· April 3, 2014

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Renovating your home is almost always a good idea. As we go through life and our families grow and change and as that happens, you can find that your home needs to change with you. That leaves you with a couple choices; renovating, or selling and moving. Renovating is a better choice, because it’s less expensive and causes less disruption…

When do you make money on the property flip?

Posted by richardcartright

· December 12, 2013

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Often, investors tell you that, “In real estate investing you make all your money by buying right!” The truth is, “Buying Right” is only part of the ‘flipper equation’. Most property flips need repairs and upgrades as part of working the flip. Even when holding property, eventually repair and maintenance is needed. This makes property flips, a three-step process: Buy,…

How much contingency should you budget for your project?

Posted by richardcartright

· November 26, 2013

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Contingency is a part of the budget set aside to cover possible project problems. Generally, contingency is there to cover ‘unknown conditions’ or conditions that could not have reasonably been known. Unknown conditions are a fact of construction and there is really now way to completely avoid them, contingency prepares you for them. How much contingency you put in the…