The paper absorbs everything
Entrepreneur of the Week Tali Kaplan # Post3
We already understand that planning is everything, and everything has a clear business plan with braces, and risk management is life.
And with all of that sometimes things happen differently.
Learn to contain losses.
On paper an amazing deal- otherwise I would not have entered of course.
Flip deal
My favorite?
A huge property, an even bigger renovation, a strange time in the world and I am one who knows that this deal will stretch me to the end.
So what do we do? True enter.
As if I had a choice, with this head that always wants a little more forward.
As if I really had a choice?
So I went in, on paper everything is beautiful and smooth. Buy at 105
Renovated at 170
Of course including the braces I took 15%
And sellers 350
Expected sale in Nov 2021
To get into this deal, because I'm a smart girl and it's really a renovation from the worlds - I take an escort from one of the mentors I learned from, and it's costing me money.
To finance this transaction I am mortgaging a property in Israel - and thanks to the appraiser in Israel who gave me hundreds but really low appraisals on the property in Israel.
Because this period - you know… and in general appraisers… you know…
So I also took a vow for a deal in the US.
Why? Because for me it's the price of learning and I do not give up. Even so, it's hard to find flip flops and I'll still make a profit.
Which is because for a deal like this that I'm complicated two match investor I did not take. Such a bombastic renovation - I'll glare at my own beard - thank you.
Come on in? And the days go by and just about everything goes fine. But then the municipal inspector goes by and updates that the porch we wanted to leave needs to be lowered.
And the tree - Ya Varadi, the price of the tree in the sky! Come on in, I'm still fine.
And winter begins and the workers start to fake a bit - familiar and well-known, still a little sucks every now and again.
Then November 2022 passes, and we come to December - Hello Christmas, the month and a half where there is not much to talk to. And in the meantime I pay interest here and there.
But even that - there was a risk that if we did not manage to release the property by December there would be two months of fun here, taken into account.
Then January - thank God we're back to work in foam!
almost.
2 problems ahead of us. A landlord to release money sends an appraiser to assess the property that indeed the money they brought in went into renovation.
And an appraiser - an appraiser, in a period - as our time. Appreciate my property at $ 22 less !!!
If this is not the time to say what the mother of all appraisers (Israel and the USA) does, I don't know when there will be a better time?
When I received this appraisal - the truth was that it was a difficult day here, moving between nerves, almost boarding a flight or issuing a contract for the appraiser - but Rabek is more money, especially the contract…. And figure out how it will help me?
And a day of excessive consumption of empty carbs, the greatest love of all entrepreneurs and let them not tell you otherwise!
And of course an endless broken record of "What am I going to do Kibinimt?", "It's big on you", "You went crazy", "Finish the deal and close the business" and other vegetables you know as the head salad we all have when things go wrong.
It's good that I took someone to accompany me (because just as every psychologist needs a psychologist, every entrepreneur needs a talented entrepreneur to help in moments of crisis).
After a brainstorming session in most of my life, I heard from him that everything would be fine - and sometimes that's all it takes to start relaxing and thinking logically!
So we sorted out the financing thing.
Come on, let's get in the dust of this thing and finish - just get me out of this already!
And what then?
True, our friend went on the Corona's little brother journey - the Omicron came and disabled all my construction team.
And here we are here at the end of January, the property is still under renovation, from the staff maybe staying third. And he should also split on another property of mine. And I see how small my profits are from day to day.
How do I ask you? Okay thank you, even just fine.
Because right to win I probably will not win (hope not to lose). Along with that how much I learned, how many new abilities I adapted, how many new doors opened for me. This deal that stretches me to the end - actually increases and distances my end.
So I learn to breathe and be thankful for that too. Because tomorrow - or next month, when it's finally sold out - I'll be an entrepreneur who knows how to run better in this world.
And most of all I thank you for not taking investors to the deal, this experience of renovating from the worlds that teaches me in a nutshell what they are and teaches me solutions what they are I do alone- so that tomorrow when I want to put an investor in such a big deal- I will be better and smarter.
Come on to the next episode?
Here is the picture of the property that brings out the juice for me and along with that I am learning to love it - oh relationships that show such love You know?
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