Great true story that just happened today... I went to look at a home (5 all together for different investors) today to evaluate it as a possible investment (flip). I was accompanied by a new investor for this one particular evaluation whom heard of me through the grapevine of professionals that I have invested with in the past.
After the evaluation we started talking about the needed repairs and very rough guesstimates. He then said.. I hear you are a very good "General Contractor" I then snickered a bit and said I believe I am good, not perfect but good.
He then proceeded to tell me he visited Bigger Pockets and read an article by a Pro and regular contributor of BP named J Scott. Whom described the differences in contractors and that according to his professional friends I fit in the "General Contractor" category and explained to me what that was.
I am not going to go into what he said the quoted "General Contractor" is but it did make me feel pretty good (For having to work on Memorial Day). That said after some snooping I found the article this gentleman was talking about in JScott's blog.
Thanks JScott and thanks BP. The new investor and I shook hands and he already gave me a large deposit check to start to "Manage" the renovation fix and flip project based just on a handshake (for now). As a side note I have not refined my numbers on this project yet and if it is not where I and He need the numbers to be I will graciously return his money and seek another deal with him as he indicated he has real estate investing fever.
Great! Sounds like you've found yourself a new partner to do business with!
It's stories like these that make continuing to conduct business with character & integrity well worth its weight. Needless to say finding a good General Contractor can be a costly time consuming process.
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