We have all heard the stories; investors who use under the table labor, try to pull as few permits as possible, and try to squeeze every penny out of a property they can, usually cutting corners in the process. I have seen firsthand how some investors will do this and try to fly under the radar in order to maximize their profit.
One investor actually questioned our big sign in our front yard that has our name and contact information on it. He told me that bringing that much attention to yourself is a bad idea and in order to make the most money, you have to fly under the radar where no one knows your name. This way, you can keep cutting corners on all of your properties. This made me very uneasy. My motto since my early days of running a painting company in college has been,
“Be as open and honest as possible, then you can market yourself proudly.”
What this experienced “investor” was telling me went against all of my prior beliefs.
The team and I sat down to discuss which path we should take. Should we cut corners and fly under the radar to maximize profit? Or should we spend the money and time it takes to do things by the books?
After a brief discussion, we came to the decision that has directly helped us exponentially grow to the company we are today:
We will commit to always doing everything by the books. We will only work with licensed contractors. Instead of hiding from inspectors, we will work with them early and often in order to get their recommendation on projects. We will always pull all the permits required. We won’t cut corners.
This has been one of the best decisions our business has made for the following reasons:
It allows us to be able to market our houses and our brand to the maximum amount possible since we know we have nothing to hide
This has been huge for us as we grow our business. We have a strong online presence, signs posted all over our projects, and network like crazy within the Boston market. Since we know we do things by the books, we feel comfortable touting our company to everyone who wants to listen.
It actually SAVES us money because when you cut corners, it usually comes back to bite you. Doing things right the first time saves you money and headaches
The biggest reason people give for why they cut corners is because it saves them money. But that couldn’t be more wrong. It actually costs them money when they have to do work twice because of shoddy labor or an inspector catches them. It also costs them money when they have to list properties lower because of their sub par product. Once again, doing things the right way SAVES US MONEY. “ Fast is slow and slow is fast.”
It creates an amazing end product that buyers love, which is why we are able to sell our homes so quickly.
Our first home had two full priced offers at the open house. Most of our homes have went under contract within 10 days of the open house. This isn’t a coincidence. We create great products because we do things the right way.
It allows our company to be proud of the homes we provide to people. It allows our employees and stakeholders to be proud to work with a company like ours.
Tying into our purpose, doing things right makes us proud. We are proud of the homes we provide to people. When I talk about CC Solutions, it gives me a sense of pride knowing that we are open and honest and develop a great product for our homeowners.
Next time an investor tells you that you need to cut corners to make money, just think of us. Next time a contractor with no license tells you to hire him because he can save you money, just think of CC Solutions.
Doing things the right way doesn’t just feel good, it makes strong financial sense.
It increases your bottom line, improves your marketability, and decreases your stress.
Three extremely important things if you want to stay in business a long, long time.