Managing General Contractors Remotely

[Nam Pham]

Hi Everyone,

Can anyone share their experience managing general contractors remotely? Any tips you could share would be greatly appreciated.

I'm Canadian investor looking to BRRRR in Texas so will not be in person.

Thanks!

[Jake Baker]

@Nam Pham

Contracts: Have a detailed contract outlining the scope of work, deadlines, payment schedules, and materials to be used.

Updates: Establish a schedule for regular updates, such as weekly calls or video conferences, to discuss progress and any issues.

Project Management: Utilize project management tools like Trello, Asana, to track progress, manage tasks, and store documents.

Documentation: Request regular photo and video updates. Set standards for what needs to be shown in these updates.

Networking with Local Investors: Build relationships with other local investors who might provide recommendations and insights about reliable contractors and suppliers. I find my contractors all through referrals. 

Milestones: Structure payments in milestones tied to project completion stages. Avoid paying large sums upfront.

Online Payment: Use secure online payment systems to manage transactions and keep records.

Permits: Ensure all necessary permits are obtained and required inspections are passed before proceeding with payments.