"Baby do you want to have sex or go to Home Depot?"
1. Why do real estate investors in Michigan are killing themselves rehabbing foreclosures when there are dozen available every 3 mile that don’t require nothing more than paint and carpet? Is it laziness or ignorance or a combination of both?
2. Why do real estate investors in Michigan spend 3 months, 4 months, 5 months, 7 months fixing a basement, a roof, massive electrical work, new heating and cooling, dry walling the entire house - but balk at the idea of spending 30 minutes setting up a system on the Internet that will bring you Short Sale deals that require nothing more than paint and carpet and still has $40,000, $70,000 in equity left over?
3. Why do real estate investors in Michigan try to recreate their rehabs to look like the homes they live in themselves even thought their buyers have never asked for all that over the top rehab they are doing? “Hey this is a $125,000 house – lets spend $50,000 rehabbing the kitchen and one bathroom- I am sure our buyers will appreciate the Italian granite counter tops we are putting in the kitchen.”
4. Why do real estate investors in Michigan never put aside any money to do a kick ass promo to sell the house when it is all fixed yet are perfectly happy thousands and thousands of dollars in rehabbing the house?
5. Why do real estate investors in Michigan never put aside any money to do a marketing campaign to sell the house yet are perfectly O.K with writing their contractors $20,000 checks every Friday?
6. Why do real estate investors in Michigan hate the Internet so much when it comes to putting a decent website for their own business for $500 (Craig’s List Gigs section) yet are perfectly O.K. with spending $10,000 rehabbing a basement?
Or worse insist on designing extremely crappy looking websites that are not readable and are pain to even look at for more than 30 seconds? (garish colors, third grade English, links that don’t work, long rambling paragraphs and an overall terrifying appearance. O.K. if you are tying to prove that you are an amateur newbie who just has no clue about anything related to the Internet….). Look pick who you want to be? A real estate investor in Michigan who will get big checks or a minimum wage web designer?
7. Why do real estate in Michigan investors wait till the rehab is done to sell their properties? Or better still don’t even give any thoughts to selling till the last contractor has left the house?
8. Why do real estate investors in Michigan feel morally obligated to spend every single penny their money source (hard, soft or private) gave them for the deal (HINT: websites don’t cost $35,000 in 2007) yet never allocate a dime to marketing or selling the house?
9. Why do real estate investors never spend three hours going to all the open houses in the neighborhood in which they are doing the rehab to see what their “competition” is offering to their buyers before deciding on what they are going to rehab in their homes?
10. Quick – given a choice between having sex and going to Home Depot – which one would you pick? If you choose Home Depot than congratulations you just joined the 95% of all real estate investors in Michigan who rather spend hours walking in Home Depot in a state of perpetual bliss with a goofy smile lining up on their faces as they gently caress a sheet of drywall. Hey at least take solace in the fact that YOU ARE NOT ALONE IN YOUR DECISION TO PICK HOME DEPOT OVER SEX. You have an entire community of your fellow Michigan real estate investors waiting for you at the gates of your local Home Depot.

