Welcome to the The Ren Men Wrap-up, each month we will discuss the prior month’s goings-on.
On the real estate side of the business, we are currently at 83 homes under contract and our one commercial property, the store and lock.
We got 0 new houses under contract, in the month of May. ‘Chirp…chirp…chirp…” those are our Ren-crickets. Now before all the Ren-Menions and Nay-sayers ask about if we have thinned ourselves out too far- we haven’t. Our real estate business placed more offers in May than any other previous month. We just didn’t get any houses bought.
Why not?
Well, the $8,000 tax credit completed last month. Prices might be going up, but really real estate is cyclical, just like any other business. Some months we get a bunch of houses, some months we get a few houses, and some months we get no houses.
Renaissance Auto Group sales are as follows:
Vehicle
Vehicle Cost
Selling Price
Profit
Chevy Venture
$ 1,900.00
$ 2,700.00
$ 800.00
Jeep Cherokee
$ 2,150.00
$ 2,800.00
$ 650.00
Pontiac Grand Am
$ 2,300.00
$ 2,700.00
$ 400.00
Jeep Cherokee Limited
$ 4,100.00
$ 5,295.00
$1,195.00
Ford Taurus
$ 1,300.00
$ 600.00
$ (700.00)
Total
$ 11,750.00
$ 14,095.00
$2,345.00
The average profit of each car is $469.00. The Ford Taurus is the outlier. The car was bought before we started test driving cars. We were told the repair cost would be nearly $2,000. We decided to auction the Taurus and wash our hands clean of it. We ended up losing $700 on that tranaction. If we hadn’t had that car in the equation our profit per car would be $609.00. We are happy with $609.00 a car and content with $469.00, especially for our first month. Our profit is split with our sales staff.
We will be collecting the money in June and will have a breakdown of each location. We also placed two vending massage chairs. Our profit is split with the bar owners. We have all 21 machines placed, but still have not made some pickups. More info will be in next month’s update.
Welcome to the The Ren Men Wrap-up, each month we will discuss the prior month’s goings-on.
Nothing like getting the prior month’s wrap-up out 25 days late — awesome. Anyway, here we go…
On the real estate side of the business, we are currently at 83 homes under contract and our one commercial property, the store and lock. We got 3 new houses under contract, in the month of April. We also lost a house that we had under contract last month. We are still in negotiations with the home. The breakdown is as follows:
House
Purchase
Repairs
#1
$8,501
$12,500
#2
$12,001
$24,000
#3
$10,001
$12,000
We have all our of boxer machines placed, finally. We will be collecting the money in May and will have a breakdown of each location. We also placed two vending massage chairs.
We have just started a new company. It is a used car dealership. Who the hell is Crazy Willy Jones?
Welcome to the The Ren Men Wrap-up, each month we will discuss the prior month’s goings-on.
On the real estate side of the business, we are currently at 81 homes under contract and our one commercial property, the store and lock. We got five (5) new houses under contract, in the month of March. The breakdown is as follows:
House
Purchase
Repairs
#1
$21,000
$20,000
#2
$9,500
$26,000
#3
$19,500
$18,000
#4
$16,500
$20,000
#5
$24,000
$17,000
On the vending side of the company, we received monies from two of our locations. The breakdown is as follows:
Date
Pick Up
Days
Location
Counter
Total
Ren Ven
Daily
1/28/10
3/15/10
46
Lodge Bar
1700
$1,726.00
$840.00
$18.26
1/28/10
3/15/10
46
Porter’s Pub
1330
$1,331.00
$665.50
$14.47
We have big news upcoming with the Ren Ven Group. We have located many more machines and will have details in a later episode/post.
The Ren Auto Group is our used car dealership. We have completed our application to be processed. We are awaiting a response from the state of Ohio for our license.
For those of you who don’t know Roger K (aka BaseLine Denver), he has challenged us:
Re the Big Out Of Boox challange……..
Here’s an idea for serial business builders; do the Ferris idea. Less than $500 cash outlay, and make Muse kinda money (say, $2-3k a month to cap it for this). Put all the stuff online, like this Car idea. And pretend that you have no resources to leverage- no building, etc. And only put in 4 hours a week.
In the real world, we know you would spend more time on the start-up, and leverage your resources, yada yada….. but this is the RenMen version of “Living Oprah”….”Following Ferriss”? Might be fun to see what business you come up with, and how you find the right mix to outsource with, and whether it even flies. You don’t need the money- donate it a la Newmans Salad dressings to a worthy cause (I vote St. Judes, since you’re both dad’s). Whaddya think?
We have accepted his challenge and will be updating our progress as soon as we start.
Just two more things, Alan and his wife Emily had their second daughter, Reece Michelle Ledford, 7 lbs. 14 oz., 21 in. at 7:02am on April 1st. Lastly, she is awesome.
Welcome to the The Ren Men Wrap-up, each month we will discuss the prior month’s goings-on.
On the real estate side of the business, we are currently at 76 homes under contract and our one commercial property, the store and lock. We got 4 new houses under contract, in the month of February. The breakdown is as follows:
House
Purchase
Repairs
#1
$16,901
$20,000
#2
$17,500
$18,000
#3
$18,500
$21,000
#4
$15,500
$3,500
On the vending side of the company, we have not made a pick up of the monies, yet this month. We have opened a new market, more details will follow.
We have just started a new company. It is a used car dealership. Once again, more details will follow.
Welcome to the The Ren Men Wrap-up, each month we will discuss the prior month’s goings-on.
On the real estate side of the business, we are currently at 72 homes and our one commercial property, the store and lock. Last month, we missed out on the house at auction, however, we did manage to purchase three new houses. The breakdown is as follows:
House
Purchase
Repairs
#1
$15,000
$15,000
#2
$16,501
$24,000
#3
$22,500
$20,000
On the vending side of the company, we placed one machine at Porter’s Pub in Columbus. We have placed four machines, but the R Bar had a contract with another company and made us take our boxer out of the bar, which takes us down to three. The breakdown of the boxers is as follows:
