Investors, what are some of the best qualities of your favorite General Contractors that made them stand out?

3 Replies

Hello BP, I was hoping to use this forum and the investment/RE professional community here to get a little discussion going about general contractors. I'm a partner in the family RE businesses, and we have our own licensed GC company in Phoenix, Arizona that has become quite successful over the years. I don't mean to start this forum to plug my business or anything, but since our main client base is RE professionals, flippers, and investors, I figured BP is a great place to get some feedback. I believe that as an entrepreneur you always need to be learning and searching for best practices and better ways to conduct business, so any insight I can gain form this is a win in my book.

My questions are, with your current contractor or ones you've worked with in the past, was there anything specific they did or any traits they had that really made them stand out and make you want to continue using them for your projects? Was there anything memorable or unique they did that you were really pleased with and helped you make more money on your investments?

Now I'm hoping to get some answers or suggestions that are a little deeper or more unique than the usual expected stuff like showing up on time, great prices, good communication, quality work, etc. Anything you want to contribute would be helpful though.

Thanks!

When I do private money deals I offer my private lenders the option of touring the property that their money is going to be invested in. (side note: most don't take me up but they often say that they appreciate the option) When they do take me up on the offer I will drive them to the property and meet both my real estate agent and one of my contractors who are both prepared to answer any question they could have about the house. I have used several good contractors in my area but the one I use most often is because he is willing to do tours.

This is an easy one for me...... Ive had plenty of bad contractors, so it makes identifying the good ones pretty easy.  Aside from the obvious communication and punctuality issues, here are a few more:

1)  Organization:  I like a contractor that gives me spreadsheets and breaks down the rehab by project.  It gives me a chance to cut or add things based on the numbers I see.  I also like to see a timeline for the expected completion dates of various phases of the project.  You will find this carries over to the work site and things stay organized and clean to reduce mistakes.

2)  Redundant Subs:  I dont want a project being delayed because my contractor only uses one plumber and he is on vacation for the next week.  Part of what I am paying him for is his ability to keep work going at all times.  As you know, when one thing gets delayed during renovation it can push many other projects back.

Originally posted by @John Bevans :

When I do private money deals I offer my private lenders the option of touring the property that their money is going to be invested in. (side note: most don't take me up but they often say that they appreciate the option) When they do take me up on the offer I will drive them to the property and meet both my real estate agent and one of my contractors who are both prepared to answer any question they could have about the house. I have used several good contractors in my area but the one I use most often is because he is willing to do tours.

 This is a good tip, I'm always willing to do tours but maybe I should go back to the agents and wholesalers we work with and let them know I am willing to do them and be there when they needs me. Thanks!

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