Week 45- Working With Contractors Step One

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If you think managing one real estate business is hard enough, imagine managing two. That’s what working with contractors can feel like if you don’t know what you’re doing or if you’re generally unprepared. If you’re not careful, the wrong contractor could trick you with endless changes and revisions in the contract or outright overbid on your projects.

How can you prevent these things from happening?

Today, Don and Ryan discuss how you should work with contractors. They share their individual working preferences with contractors as well as the associated managing practices.They each explain the pros and cons of hiring in-house and working with third-party contractors. They also offer tips and advice on choosing the right contractor that suits your budget and current projects.

“Never give somebody more than two jobs if you've never worked with them before.” - Don Costa

This Week on FlipTalk’s Rookie PlayBook:

  • Why Ryan chose to hire an in-house construction crew.
  • Why Don prefers general construction crews.
  • How they built their crews and how they manage them.
  • The number of transactions you can do with in-house construction.
  • Deciding which contractor to work with based on your project.
  • The only system and process you need to explain to your contractors.
  • Budgeting your construction costs based on the quality of the work you want.

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