Being in the dumpster business has allowed me to meet hundreds of contractors to call for my rentals. I have guys I can trust 100 pct. I don't even need a property manager. I give them the tenants number and everything gets done and then I get an invoice and send a check out that day! I pay my contractors fast and they appreciate it.
Yes! My husband is a GC that has tried working with several investors, but the problem he keeps running into is that the average RE investor wants the work done for so cheap (to turn a profit--understandably) that they choose the cheapest GC almost every time. They don't realize that his construction business has carrying costs, like REI, besides time & materials. They expect him to work for basically nothing. So frustrating. He's got some potentially good investors lining up work for him that will hopefully work out better, so fingers crossed 🤞.
Hey Lindsay! I think he should push hard on time and quality as a differentiator between him and the other / cheaper contractors. There are 3 things in construction - time, price, and quality. You can't have the best of all 3!
Derosa Group Great idea, thanks! I'm fairly certain he does try to stand out in that regard. I'm thinking maybe it's more the newbie mindset to just get the cheapest work possible. My husband is also extremely reliable, always answers his phone, and organized… a quality many GC's lack. I'm hoping that some of these more seasoned investors will be easier to work with because they might understand that principle of "you get what you pay for." I appreciate your videos.
Derosa Group Derosa Group Great idea, thanks! I'm fairly certain he does try to stand out in that regard. I'm thinking maybe it's more the newbie mindset to just get the cheapest work possible. My husband is also extremely reliable, always answers his phone, and organized… a quality many GC's lack. I'm hoping that some of these more seasoned investors will be easier to work with because they might understand that principle of "you get what you pay for." I appreciate your videos.
Lindsey I think the key is investors don’t want to pay retail so they need to find someone who can work at somewhat wholesale prices. But I would also encourage him to emphasize quality and time, u think it’s worth it paying someone more to do the job right and do it on time
I'm currently going thru this now. The Secret is... as a contractor learn to do away with these "investors and replace them with yourself. An investor is simply one with a network and business/ financial understanding. Most contractors don't have business literacy to tap into investing and using credit as leverage.... I see it all the time and it sucks
