MG The Mortgage Guy, a mortgage industry expert, shares savvy strategies for navigating real estate development costs. He emphasizes the importance of obtaining multiple contractor quotes and harnessing AI tools, like ChatGPT, to analyze pricing and interview contractors effectively. Rashad Bilal reveals how sourcing materials from China can lead to impressive savings of 30-50%, enhancing profit margins for developers. Their insights on negotiation tactics and international sourcing will revolutionize your approach to renovation and development.
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volunteer_activism ADVICE
Shop Contractors And Use AI For Quotes
Get three or four contractor quotes and negotiate aggressively to avoid hidden or premature markup.
Upload quotes and photos into AI (e.g., ChatGPT) to break down costs and find top local companies.
question_answer ANECDOTE
Uploading Quotes Into ChatGPT Worked
MG uploads contractor quotes and pictures into ChatGPT to get low, mid, and high cost breakdowns.
That process also returns recommended local companies with strong reviews for interviews.
volunteer_activism ADVICE
Prep Interviews With AI Research
Do deep due diligence before hiring: prepare interview questions from AI research and verify contractor expertise.
Use that prep to have intelligent conversations and avoid costly surprises in volatile markets.
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In this insightful clip from EYL, MG The Mortgage Guy joins hosts Troy Millings and Rashad Bilal to illuminate creative strategies for saving big on real estate development and home renovation. Are you paying too much for contractors? Wondering if there’s a smarter way to do your due diligence before diving into your next big project? This conversation is for you! MG The Mortgage Guy shares how getting multiple quotes and leveraging technology—especially AI tools like ChatGPT—can help you understand contractor pricing, break down labor and material costs, and even identify the top-rated local companies. He details his own methods for negotiating better deals, from uploading quotes for AI analysis to conducting deep market research before making any decision. Rashad Bilal dives into the trending “China play,” spotlighting his personal journey to source home furnishings and construction materials directly from Chinese manufacturers. Whether you’re furnishing a new home or developing multiple properties, Rashad explains how connecting with reputable suppliers overseas can lead to substantial savings—sometimes cutting costs by 30-50% or more, without sacrificing quality. If you’re a developer, imagine multiplying those savings across several homes or even commercial properties, and boosting your bottom line without lowering your property value. The conversation also touches on best practices for international sourcing, including the importance of local contacts abroad and understanding specialized vs. multi-line suppliers in manufacturing hubs like Foshan. Rashad and MG emphasize that you don’t always have to travel to China; having a trustworthy partner on the ground can help navigate the process to maximize benefits. Troy Millings rounds out the discussion by highlighting the scalability of these strategies—not just in residential construction but for commercial projects like hotels, where bulk manufacturing leads to huge upfront savings and greater long-term profits through nightly rates. Whether you’re a homeowner, an aspiring investor, or a seasoned developer, this clip is packed with actionable insights on harnessing both technology and global sourcing to work smarter, save more, and achieve maximum impact in today’s volatile market. ▶️ Hit play to learn how to:
Compare and negotiate with contractors using AI
Tap into international markets for bulk and custom deals
Avoid common pitfalls when sourcing goods from China
Scale your savings for larger developments or commercial properties
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