No Demo Renovation Secrets: How Investors Increase Rental Value in Just Days

Cynthia Perry (00:00)
It’s very economical. You’re looking at a, you know, I mean, we go, you know, our price ranges, I hate to give a price range, but you know, like a typical condo could be four to $6,000. But if you’re ripping that kitchen out, that’s gonna cost you, you know, 20, 25. So we’re cost effective. We’re in and out three to five days, depending on how big the project is.

The Insecure is great, especially in the rental market. And there’s no demo. I like to say we’re no demo reno.

Scott Bursey (02:02)
Welcome back to the Real Estate Pros Podcast powered by Investor Fuel. I’m your host, Scott Bursey.

And today we’re proud to welcome Cynthia Perry of NHance of the Emerald Coast. Cynthia and her team are the masters of renewal, turning dated wooded services into stunning assets without the cost and chaos of replacement. She’s bringing the fuel of low cost, high impact renovation secrets straight to you. Get ready to take notes because this is going to be a deep dive. Cynthia, welcome to the show.

Cynthia Perry (02:30)
you

Thank you for having me.

Scott Bursey (02:33)
We’re so pumped to have you here. And for our listeners who may not be familiar with your journey, please tell us, how did your career begin and what is your main focus now?

Cynthia Perry (02:43)
Okay, well, as most people older careers kind of go up and down, sometimes not as planned. But I started my career in interior design. I have a degree from University of Georgia, and I always say go dogs and started in interior design and kind of moved into sales. So I worked for a wall covering distributor for a while, calling on builders and wall covering companies, things.

people like that in the panhandle of Florida. was living in Jacksonville and then went to another company, moved to Orlando and worked for a wall covering distributor there. So I stayed in the design world and then factors beyond my control, I ended up in the hospitality industry. So I’ve worked for travel insurance companies, two companies for several years and then finished my career in the travel industry.

working for Marriott in the hospitality side of it. And so I spent 10 years with Marriott and then in 2018 we had opportunity to move to Destin, Florida where we had vacation for years and I had family here. So we’re like, yes, let’s move to Destin. Pretty speeches in the world if no one’s ever been here, you got to check them out. So we moved here in 2018. I continue to work for Marriott.

for a couple years and then when 2020 hit, we all got stuck at home. And I decided that I wanted to kind of go back to my design roots as well as real estate. I was tired of traveling. I was on a plane every week. And when you live in paradise, it’s hard to get on that plane. So, cause everybody’s on vacation here. So I got my real estate license, which I had back in my twenties, but got my real estate license and started with the real estate first and then

Scott Bursey (04:17)
Yes.

Cynthia Perry (04:28)
I kind of morphed into doing some light remodeling for clients. My brother and husband are in the building industry, so they would send me clients. And then with my real estate clients that are getting ready to sell their house, or maybe they bought a new home, you know, just helping them get that house ready to sell or updating, you know, rooms and kitchens and things like that. we kept going to kitchens. So what I found is there was

not a consistent kitchen company and painter than our local area. So I started to do some research and ⁓ found NHance and I thought it was a great fit for me and for our family and you know and kind of tie in with the real estate. And so that’s kind of how we came about. So you know still work on the real estate side ⁓ but I work with a lot of short-term rental investors helping them to update their home their investments and

either get them ready to sell or ready to rent or what have you. So it kind of all flows together. And then with my hospitality background, especially with Marriott, know, it’s really interesting working with the short-term investors because I have that hospitality. I can kind of speak on that as well. So kind of all circles together.

Scott Bursey (05:41)
What a great

journey that took you into a slice of heaven paradise, as you put it. That is awesome. That is awesome. And Cynthia, yes. And I couldn’t be more pleased that you found the promised land.

Cynthia Perry (05:49)
Certainly is. Yep.

Scott Bursey (06:44)
Let’s dive right on in here Cynthia with a question that I know our listeners are going to want to know from you. If someone’s listening to this and they’re thinking, Hey, this is somebody I like to partner with or learn from. What do you want them to know about your business first?

Cynthia Perry (06:59)
Our business, well, we’re a professional cabinet makeover company. We go into a kitchen, sometimes baths as well, especially in our area. And if you want to keep the current layout, that’s what we’re best at. So we take that current kitchen layout and many times we’ll either paint the cabinets a fresh new color or we’ll re-door, some people call it re-face the kitchen.

And it changes the whole kitchen complete. It looks like a complete makeover without having to do the demo and the costs of demoing and the downtime and that type of thing. So we can usually do a kitchen, you know, if we’re doing a condo here in our area, which we do a lot of it’s, you know, three or four days, a full kitchen, you know, five days we’re in and out. And, you know, especially in our market, a lot of the investors that have these short-term rentals, they want us in and out because they got guests coming in.

And so we have to commit to that. Sometimes it’s a little nerve wracking because, you know, we come in on Monday, okay, the guests are checking in on Friday, we better have it done and hopefully there’s no issues in the meantime. But our products are very, very specific and we have a product called Lightspeed Nano, which is basically an instant cure for the top coat. And so we can finish your job that morning, you can have guests in the afternoon, you don’t have to worry about the paint at all.

You know, when I talk to women, because a lot of our decision makers are women, I relate it to when you go to the nail salon and get your fingernails dipped and you put it under that light and it instantly cures them and dries them. That’s basically what we do. And so it’s really great for our market here.

Scott Bursey (08:31)
would say how cool that is totally awesome. So no business is perfect. What’s one thing that you’re still trying to figure out or that you’re trying to work around lately?

Cynthia Perry (08:35)
Yep.

I think it’s just differentiating ourselves, you know, with maybe the guy down the street that might come in and do a little less expensive job and just selling our products and our service and our customer service, especially as well. You know, all of our employees work for us. They’re full-time employees. We don’t subcontract anyone out because our products are so specific.

that they have to be trained on the steps and the process to do that, especially with our ultraviolet light. Can’t be in the room when that’s going on. so I think just making sure people understand our process and why we’re so different than the guy down the street

Scott Bursey (09:20)
That is such a beautiful area. It really is. And do you stay on the Florida side then?

Cynthia Perry (09:26)
Yes, we, our company typically covers from, ⁓ little east of Pensacola beach, Navarra area all the way down to Mexico beach. So through Destin, 30 a, I’m sure a lot of people for 30 30 a, even though it’s not a city, it’s a road, but there’s a lot of beach communities across, along 30 a and, ⁓ all the way down to Panama city beach and Mexico, Mexico beach. So along the coast and then a little north up to,

the I-10 corridor. We probably do more in this area, more short-term rentals, our vacation homes than we do primary homes. It just depends on the season.

Scott Bursey (09:54)
Cynthia.

It really does. And what is your busiest time of year?

Cynthia Perry (10:07)
Believe it or not, it’s kind of funny though, because our other NHanced franchise are like, what? But we’re really busy in the winter time. Because that’s when, we’re a little bit different in this part of Florida, because we’re in Northwest. So our high season here is actually in the summer, whereas the rest of Florida is in the winter. So in the winter, we’re busy because people want to update their investments, their vacation homes or their short term rental homes in the winter when it’s down and there’s no guests there.

Scott Bursey (10:32)
Since you have what?

Cynthia Perry (10:33)
And then usually

in the summer is more residential local people that will take care of their.

Scott Bursey (10:38)
I see, okay, well thank you for elaborating on that. It’s always interesting to know. What do you feel is one of your biggest opportunities right now? This could be like a market shift, a new offering, or just part of your business that you’d like to double down on.

Cynthia Perry (11:26)
I think in our area, the biggest opportunity right now is there’s a lot of old product. There’s a lot of updating needing to happen, very dated product. And that’s what we’re seeing a lot of now, especially in the short-term rental market, because there’s a lot more competition than there was even five years ago in the market. So people are looking at the pretty pictures. They’re following the influencers and they’re going to stay.

they’re going to choose an updated property over yours if you don’t have that update there. So a lot of opportunity there, a lot of opportunities just go in one condominium building and say, hey, we’re here for a week and let’s take care of your condo while everybody else is. So there’s just a lot of opportunity because of the, the dated product here.

Scott Bursey (12:07)
That’s a huge distinction. Is there any challenges you’re watching closely like market risks, competition, access to deals or capital, that sort of thing?

Cynthia Perry (12:16)
You know, I mean, our real estate market here, talk a little bit about that. It’s been pretty steady. We’ve actually saw the first quarter more pending contracts than we have in the last couple of years. I think it was since the highest level since 2022. So the market in our specific area is pretty good. So we’re not really seeing

too much of a market shift. And I think in the home service business, that are afraid to make that move are coming back to us to update what they currently have. with the competition and the buyers are getting smarter, they’re taking their time right now buying homes. The inventory is still kind of high, it’s going down a little bit.

the buyers are just, they’re not as in a hurry taking their time. And I think a lot of it is because of what’s going on in the world, but that’s not good for the sellers because again, it goes back to if you have the, the shiniest, you know, home on the block and you’re the same price as the one down the road that needs updating, then, you know, guess where the client’s going to go. So, the competition is there.

Scott Bursey (13:25)
Absolutely and what is the single biggest advantage of your process overall? Like a full tear out and replacement.

Cynthia Perry (13:33)
It’s very economical. You’re looking at a, you know, I mean, we go, you know, our price ranges, I hate to give a price range, but you know, like a typical condo could be four to $6,000. But if you’re ripping that kitchen out, that’s gonna cost you, you know, 20, 25. So we’re cost effective. We’re in and out three to five days, depending on how big the project is.

The Insecure is great, especially in the rental market. And there’s no demo. I like to say we’re no demo reno.

Scott Bursey (14:03)
And I know that our listeners are going to want to know the answer to this. What type of common damage is truly beyond the scope of effective wood renewal?

Cynthia Perry (14:13)
water damage is, you know, we have a lot of that here in our area. So wood renewal, it’s kind of hard and that’s where we go in and we usually do a door replacement. see, lately we’ve seen a lot of thermo-foil doors. I don’t know if you know what thermo-foil is. Basically that plastic that wraps around. And since there’s so much moisture here in Florida, it’s starting to peel off. And a lot of times it’s just better to replace that door because the product under it is not very strong.

So door replacements, you know, I mean, we’ll, I mean, we’re honest with customers and we’ve learned lessons too along the way. Sometimes you take a job and you’re like, probably shouldn’t have done that. Because, you know, we want to make sure that the cabinet boxes are sturdy and strong. And that’s the main thing. You know, we took a job that we thought the boxes were strong, they’re not. And it’s the…

The material is not great, that’s been a challenge. So we’re very particular with now. Like I said, sometimes you just have to learn to make sure those boxes are strong enough to keep and then replace the doors. But moisture and water is usually the biggest damage that we see.

Scott Bursey (15:14)
Cynthia.

Yes, and that makes sense in your region. It really does. Thank you for that excellent breakdown. Cynthia, curious to know, how much do rising labor and material costs impact your pricing model versus traditional installers?

Cynthia Perry (16:12)
I’m not quite sure what you, what do you refer to as traditional installers?

Scott Bursey (16:16)
As far as your labor costs

and that sort of thing, how does that impact your pricing right now, I guess? If you could walk us through your pricing model, as far as the rising costs of the materials and labor right now, it’s something that is kind of on my mind a bit.

Cynthia Perry (16:35)
Unfortunately, you you have to add that on to the cost to the consumer for the most part. You know, we’ve seen some tariffs, tariff costs this past year. That’s kind of settled down a little bit. You know, we use several suppliers for the manufacturer of doors. Of course, they’re going to pass that cost on to us. And unfortunately, it just trickles down to the consumer. But at the end of the day, we’re still, you know,

a lower cost than a full remodel. And so you just kind of have to weigh that out. But we haven’t seen an increase in the last, I don’t know, eight months or so that we’ve had to add on to the customer. But last year we got hit with tears and this and that, on and so forth.

Scott Bursey (17:17)
That is awesome that you’ve been able to absorb that for the bulk and have not had to pass that much on to the consumer. I tip my hat to you on that. That is fantastic.

Cynthia Perry (17:28)
Well, we try a lot, you know, but, you know, sometimes you have to.

Scott Bursey (17:33)
And I know our listeners are going to want to take away some nuggets or listen to some advice. Do you have some to pass along?

Cynthia Perry (17:42)
⁓ I think advice, especially for the realtors that are listening to this, know, build those relationships with your vendors, you know, whether it’s an HVAC or a plumber, whoever, build those relationships with your vendors, get to know us. I work with a lot of realtors in our area and…

sometimes they’ll reach out to me and say, hey, I’m trying to negotiate on this house for my buyer and the kitchen is a disaster. Can you give me an estimate to replace the doors and paint and update this kitchen so that we can negotiate that into the price of the home? So we help realtors in that way. And then a lot of times after the house closes, the buyer will come back to us and have their cabinets redone.

We also help realtors and designers get these homes ready to sell, go in and update the kitchens for them and work directly with the realtor or the designer to get those house ready for market. So, you know, it’s really important to build those relationships and to earn that trust, especially on our side. You know, I want people to trust me and I want them to know that, you know, if something needs fixed, we did something wrong or whatever it may be, we’re going to come back the next day.

And we’re going to show up. You know, it’s interesting in this area because it’s kind of a joke. Like if you, if you actually answer your phone and you show up when you say you’re going to show up, you actually have a job. we want them to, to be, I mean, I’m serious. It’s like a joke here, but it’s, it’s true. And they have to work with a person that they can rely on and company they can rely on. That’s going to be there, you know, whenever they reach out to them, you know, and I always say that people buy from people. They don’t buy from companies.

You have to earn love, trust, and respect somebody in order to buy from them. So I wanna be that trusted, not only company, but person that they can come to.

Scott Bursey (19:31)
Absolutely. That trust factor is so critical. So critical.

Cynthia Perry (19:36)
I think it’s no love and trust because like people buy from people. And I’ve always said that, you even when I was working for a big company and everything, you you don’t buy from a company, you buy from a person and you just have to build that relationship. But I really, you know, I strongly stress that, especially to realtors and maybe even investors too, to get to know their vendors. you know, I help a lot of people, investors that buy homes, you know, and I’m almost like, almost

in a general contractor kind of way because I have a Rolodex. I know who I trust for countertops. I know who I trust for plumbing and this and that. So I know that if I send this person, they’re going to take care of my customer because we have that relationship. So it’s all about relationships.

Scott Bursey (20:17)
Spot on. Cynthia, this has been pure gold before we let you go. It definitely has been very informative. What’s the best way for our listeners to reach out to you to collaborate or if they want to follow your journey?

Cynthia Perry (20:22)
I hope so.

Probably our website, nhance.com/EmeraldCoast

Scott Bursey (20:36)
awesome.

Cynthia Perry (20:36)
And my

email is [email protected]. But nhance.com, Emerald Coast, and you’ll be able to find me.

Scott Bursey (20:44)
Cynthia, thank you so much for joining us today.

Cynthia Perry (20:46)
Thank you, I appreciate the opportunity.

Scott Bursey (20:48)
And to our listeners, we appreciate each and every one of you. If you got value from today’s episode, please subscribe. We’ve got a lineup of exceptional guests, just like Cynthia, who are making huge moves in the market. Until next time, keep your standards high and your vision clear. We’ll see you in the next episode, everyone.