"Time is Money": Lessons from a Year-Long Home Renovation Project in Sandpoint, Idaho

This week on our YouTube channel , we're taking you on a journey to Sandpoint, ID, to showcase a project that pushed the boundaries of our typical investment timeline.

As investors, we strive to complete projects within six months.

That six months is from the time we buy the house to sell the house and that includes the construction time. ?

Why? Simply put, time is money.

Every day we hold a property incurs costs, and we don't see a return until the house is sold.

So, why did this project take over a year?

The answer lies in a fundamental necessity: the house had never had running water.

Yes, it needed a water well.

And in Idaho, securing a licensed professional to install a well can take upwards of a year !

We knew that going into the project but still planning for this as a real estate investor is critical to success.

We were fortunate to find a local Sandpoint water well company that tackled the job during the winter, navigating snow and drilling over 400 feet to reach the best water source.

The harsh North Idaho winter further complicated matters, making construction nearly impossible without running water.

The project had to wait until spring.

Once the thaw arrived, the transformation began.

The results are stunning, featuring a beautiful new open kitchen with gorgeous wood beams, updated bathrooms, fresh paint, a new roof, and much more.

This project highlights the risks real estate investors face when holding a property for an extended period.

Market conditions can shift dramatically, particularly with fluctuating interest rates.

This Sandpoint home is currently on the market.

We invite you to check it out and share the listing with anyone seeking a fantastic property in Sandpoint, ID.

935 B St, Sandpoint, ID 83864 | MLS# 24-8169 | Redfin

Remember, in real estate investing, time truly is money. Careful planning and adaptability are key to navigating unexpected challenges and maximizing returns.

We will see you in the field! RWI

#realestateinvesting #sandpoint #timeismoney #projectdelays #investorchallenges