THINK REALTY BENEFITS
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BARNETT
3 Money-Saving Strategies Hands-On Investors Miss
From landlords to lenders, flippers to
Coverage for vacant, rehab and occupied properties
THINK REALTY BENEFITS SUPPLIER BARNETT OFFERS INNOVATIVE INVENTORY SOLUTIONS.
funders, National Real Estate Insurance Group has real estate investors
hen you think about all the in’s and out’s of managing a fix-and-flip project or other renovation, you probably immediately leap to the processes of keeping the timeline on track, managing the inevitable budget adjustments as new issues come to light during the process, and building enough “cushion” into the deal that you know it will still yield a good return when the process is done. You are definitely thinking about management, but are you thinking about managing the inventory you use during the renovation process? Probably not. And that oversight is probably costing you. Although many real estate investors rely heavily on their contractors to handle the inventory and supply sides of the business, many also opt to stay hands-on and do a lot of repairs on their investment properties themselves or directly provide the materials needed. If you fall into this category, you are cost- ing yourself time and money if you are not carefully managing any supplies you keep on hand. If you don’t keep anything on hand, consider starting! An organized inventory of commonly needed items can save you countless hours of looking for just the right part you need for the job. Here are three tips from Think Realty benefits supplier Barnett, which offers, among other services customized to meet the needs of hands-on real estate investors, a vast array of inventory management options and organizational programs. MONEY-SAVING TIP #1 LET YOUR VENDOR HANDLE IT If you are a hands-on investor, you probably do not have a lot of help. Consider letting your local supplies vendor handle W
your inventory for you if they offer this option. These ser- vices usually range from online inventory itemization to help you identify what is available on-site at the vendor’s physical location to a full-time employee dedicated to managing your stock. The scale of your business will determine what type of program fits your needs. MONEY-SAVING TIP #2 KEEP THINGS SIMPLE It sounds too simple to be true, but believe it: Labeling your inventory can directly (and quickly) result in big savings of time and money. Most investors do not take the time to organize their various items or label them effectively, which means most hands-on investors often end up buying dupli- cates of things they already have, from tools to deadbolts, simply because they cannot find them or do not feel they have
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the time to look. PRO SOLUTION:
Barnett offers a full line of organizational labels that sync up, online, to products’ part numbers, descriptions, images,
> Continued on :: PG 112
Stockwise Inventory Management Solutions from Barnett, a Home Depot Com- pany, offers a variety of programs designed to keep your real estate investing business moving forward, including organizational tools, full-service inventory management programs, and customized consultations with inventory man- agement specialists. Learn more about Barnett and how you can access these money-saving strategies and an exceptional selection of contractor products at https://thinkrealty.com/supplier-discounts/.
For your free custom insurance proposal, call 888-741-8454 or visit NREIG.com today!
thinkrealty . com | 11 National Real Estate Insurance Group is the nation’s leading agency offering coverage options for real estate investors across the country. Our lineup of products includes: REIGuard™, LandlordGuard, PMGuard, TurnkeyGuard, LenderGuard, and CommercialGuard.
10 | think realty magazine :: april 2018
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