When it seems like everything is going as planned, suddenly, you went way under budget for the renovation. That was the problem Chris Grenzig had to face in his deal. He shares the importance of surrounding yourself with people who know more than you and why you should always ask more questions and look for potential drawbacks to plan for contingencies. Listen as he shares this huge hurdle that was eventually turned around with a better plan and increasing rental growth.
[00:01 - 06:28] Opening Segment
[06:29 - 17:03] A Huge Budget Deficit for Renovations Saved by Rent Increase
[17:04 - 24:49] Closing Segment
Tweetable Quotes:
“If you're starting from scratch on everything, you're basically at everybody else's mercy at that point.” - Jerome Myers
“I probably should have brought in more experience earlier on and leaned on them heavier than I did, I think I was probably a little naive… and not really asking the questions of like, ‘Hey, what can go wrong with this plan?’ and not really looking at contingencies and backups and potential pitfalls.” - Chris Grenzig
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