become Licensed Gen Con. or not to help with rehabbing

[Scott C.]

I'm trying to get feedback on whether becoming a licensed General Contractor would help me have a better chance of securing a private loan from an investor to rehab houses. I'm not planning on doing much of the renovation myself, but I don't have alot of experience in construction or real estate so I think alot of potential investors would be reluctant to loan me money right now. Private Lenders, what kind of resume do you look for from new (and young) investors before you loan money?

[William Alvarado]

Scott, I had many of these issues starting out, and many will ask for collateral or a really good deal should things go south they can take over the project and recoop. My theory is you cant be the best at your job if your job is to do everything. what you can is get a great licensed sub with a company profile, website (if possible) and resume with a portfolio (again if possible) and show the investor 1. you can delegate, and 2. you know your limitations, theres nothing wrong with having limitations, there IS something wrong with not knowing them. Also if you have a good licensed contractor who does not have a website, resume or portfolio but their work is great you can develop a relationship and tell them they need it if they want to establish a long term relationship which should always be the goal its terrible always having to source out a contractor and time consuming! hope this helps