Mastering Profitable Renovations with Van Sturgeon Episode #153

GUEST SUMMARY This week we have Van Sturgeon in the lab as a general contractor who evolved into a real estate investor, home builder and multiple business owner who now dedicates his time to helping everyday people save tons of money on being in control of their own renovations with or without a general contractor by using his repeatable system in his 30 years as investor and GC. Van started his own renovation and construction company. To date, he has renovated and built thousands of homes, apartments, condominiums, and commercial buildings, and owns over 1,000 rental units across North America. While having created multiple businesses that are involved in the construction, renovation, acquisition and management of properties, he has spent his life split between Chicago, Toronto and Miami Beach. In this episode you will learn the biggest obstacles that investors struggle with while doing renovations, how to actually land quality contractors and get them to pick up the phone and most importantly how to come up with a statement of work and stay on budget and on time keeping your renovations cost at an all time low. If you’re in the process of undergoing a rehab now or in the future, you don’t want to miss this. HIGHLIGHTS OF THE EPISODE: 00:53 - Background of the guest 31:22 - The relationship between contractors and subcontractors: The goal of a real estate 38:24 - Contractors who specialize in new construction 47:10 - Process and system standpoint: Creating an investment portfolio for profit 49:46 - Inventory of the property 54:12 - Identifying issues and making decisions to accomplish within the renovation 56:31 -  Renovations take the most amount of work and effort KEEPING IT REAL: 16:02 - What did it feel like when you talk about investing? 19:45 - What comes first between General Contracting and the Flip? 22:20 - The good old days are easier than right now 23:50 - The biggest obstacle of a contractor 26:37 - What makes a contractor pick up and not pick up a phone call? 34:52 - Are general contractors underappreciated? 40:25 - The difficulty of saying no to business 01:03:15 - The thoughts about the economy shift CONNECTING WITH THE GUEST Check out Van Sturgeon’s Website: https://vansturgeon.com/ Facebook: https://www.facebook.com/SturgeonVan/ LinkedIn: https://www.linkedin.com/in/van-sturgeon-029018200/?originalSubdomain=ca Instagram: https://www.instagram.com/vansturgeon/?hl=en