In a market where housing inventory and renovation costs are constantly shifting, having a partner who understands both the physical structure of a home and its market value is a significant asset.
On the latest episode of Lex Talk Real Estate, we are joined by Ron Newby, founder of Revived Construction LLC. With an MBA background and dual licensure as a General Contractor and Real Estate Agent, Ron brings a unique level of business acumen and technical precision to the Central Kentucky market.
Key Takeaways from the Discussion:
🏗️ Professionalizing the IndustryRon discusses the importance of moving away from the "Chuck in a truck" mentality. He emphasizes the necessity of warranties, strict adherence to building codes, and maintaining an A-rating with the Better Business Bureau to ensure client protection.
📉 The Reality of Real Estate InvestingFlipping homes is rarely as simple as it appears on television. Ron breaks down the critical financial analysis required before purchasing an investment property, including calculating accurate "unseen costs" and understanding true market comparables.
📋 Advocacy in Insurance ClaimsOne of the most valuable insights Ron shares is the importance of contractor representation during adjuster meetings. By utilizing Xactimate—the same software used by insurance carriers—he ensures that homeowners receive fair coverage for legitimate damage, strictly following code requirements rather than cutting corners.
🏠 Maximizing Resale ValueFor sellers looking to list in the next 1-5 years, Ron advises against over-customization. The highest return on investment often comes from simplicity—specifically, neutral paint and passing inspection—rather than major, personalized overhauls.