About this episode
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 Don’t forget to comment if you want to see a full panel on the “China play” at Invest Fest! * #EYL #RealEstate #AI #ChinaSourcing #Construction #HomeImprovement #InvestFest #WealthBuilding #Innovation #Entrepreneurship * Subscribe for more wealth-building game from the Earn Your Leisure crew! See omnystudio.com/listener for privacy information.