January 10th, 2021 10:34 PM by Eric Willner
Radio Show Notes 1/04/21 Monday: “Good, Fast, Cheap. Choose Two” Plus - Mondays on a Mission on The Real Estate Show Sets The Agenda For This Week
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By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate.
In the Monday edition of The Real Estate Show, Eric Willner asks the popular age old question, “Good, Fast, Cheap. Choose Two” The question is sometimes referred as the project management triangle, which is a model of the constraints of project management. It is also called also the triple constraint, the iron triangle and The project triangle. While its origins are unclear, it has been used since at least the 1950s. and has been found in the real estate world all along.
All this week we will use this concept as the context of our agenda for the topics we cover in the various areas in real estate. To learn more, listen to today’s recorded daily edition of the Real Estate Show and Learn why I am asking, “Good, Fast, Cheap. Choose Two in real estate.
In summary, the concept contends that the quality of work is constrained by the project's budget, deadlines and scope (features). Then that the project manager can trade between those three constraints. And therefore, changes in one constraint necessitates changes in others to compensate or quality will suffer. In any case, the outcome is a result of this important choice or set of choices.
This also applies to many projects in Real Estate. "Good, fast, cheap. Choose two." and similar statements are often used to encapsulate the triangle's constraints concisely. For example, a real estate rehab project can be completed faster by increasing budget or cutting the scope of the rehab. Similarly, increasing scope may require equivalent increases in budget and schedule. Cutting budget without adjusting schedule or scope will lead to lower quality.
If you understand this, you can be a better real estate investor, owner, agent, or professional. Listening daily to our show will help you also find out why real estate will be one of the best places, and least risky places to put your money going forward. But you better know how!
You won’t want to miss a single episode this week. Here is The Agenda:
Monday: This weeks Theme (“Good, Fast, Cheap. Choose Two.”)
and Daily Agenda
Tuesday: Today’s Tools, Tips, and Techniques that are Good and working Now
Wednesday: The Midweek Market & Stimulus Report
Thursday: ATM “About The Money”
Friday: The Weekly Wrap Up and Deals of the Week
Want more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner. The Show is Live every weekday afternoon at 5:00 pm and then again at 8 o’clock (EST) on Florida’s Money Talk Radio station WSBR: AM 1470, FM 95.3, FM 96.9, and FM 103.9. You can also hear us on the free apps: iHeart Radio and TuneIn and Spreaker. Recorded Rebroadcasts are available 24/7 on our Facebook page at Facebook.com/TheRealEstateShow..
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Then check out these EXTRA cool resources:
TimeToFixMyCredit.com for Financial Education and Credit Improvement
AutomaticLandlord.com for Landlording and Real Estate Investment
Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
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