Right after closing we have a fistful of cash because we have private money
. We go ahead and call a contractors meeting. If we close on a Thursday at one, then well call a contractors meeting on Tuesday.
Kevin will go to the closing and then from the closing directly to the property. The faster you set things in motion the more money youll make in the end. You definitely dont want vacant or repossessed houses for sale for too long. So, we move quickly.
We take care of the lockbox on the property and the signage. Kevin grabs the appropriate signs from the office and loads them into his car. He plants them in the yard.
When it comes to the lockbox, we tend to use the same code all the time. I dont know if thats good or bad. You never know if someone is going to come back later and take something. At times, we do change it a little bit.
So when we've started this up and hauled some of the trash out, we do out contractors meeting.
We get the electrician and the plumber involved in the contractor meeting. If there is other work needed, we have the appropriate contractor show up.
We let everybody know where they fit in this mix. We clarify what needs to be done and who will handle what.
They have each other's cell phone numbers. They can communicate well with each other and work this project out perfectly. This is done in their own system.
They are walking through the bank repo houses. They are communicating their needs with each other. It runs very efficiently.
One of them will ask the other if they are going to pick up the tub and the sink. The other will say yes or no. Then they can plan out who goes to pick up the tub or the sink.
These contractors do a great job of coordinating the work. They hand off to one another. Each of them knows what their duty is.