When it comes to real estate investing, many investors are tempted to cut corners in an effort to save a bit of money upfront. But as Kevin, our Chief Lending Officer at Wildcat Lending, often says—taking shortcuts can end up costing you more in the long run.
The Hidden Costs of Cutting Corners
We’ve all heard the saying, “You get what you pay for.” In real estate, this is especially true. Cutting corners may seem like a smart move to save a few thousand dollars, but it can lead to longer market times and higher interest costs down the road.
Here’s why: properties that aren’t done right tend to sit on the market for longer. This extended market time adds up in terms of interest payments, and you can end up losing the savings you thought you gained by cutting corners in the first place.
Buyers Are Looking for Quality
In today’s market, buyers are more discerning than ever. They want homes that meet their expectations in terms of quality and attention to detail. Skipping on key areas like finishes, repairs, and overall workmanship could leave a property looking less appealing to potential buyers.
Do It Right, Sell It Faster
So, what’s the solution? Invest in quality work from the start. When you focus on doing the job right—whether it’s a flip, rental, or rehab—you’re more likely to attract buyers who are willing to pay top dollar for a well-done home. Homes that are built or renovated with care often sell faster and for a higher price.
Kevin’s Rule of Thumb: Treat Every Property Like It’s for Family
Kevin’s approach is simple: he treats every property like it’s a home for his own family. If he wouldn’t feel comfortable with his loved ones living in the house, he doesn’t cut corners. It’s this mindset that leads to better quality, faster sales, and a stronger return on investment.
The Takeaway
Cutting corners may seem like a quick way to save money, but it’s a gamble that often doesn’t pay off. Investing in quality from the start ensures your property sells faster, attracts serious buyers, and ultimately gives you a higher return. Don’t sacrifice long-term success for short-term savings.
