All Forum Posts by: Laden Brooks III

It's no mystery that every investor has dealt with a bad contractor. Much like property managers and real estate agents, many investors feel that there is a shortage of people in those professions that are actually good. I was raised around the trades and absolutely love the construction aspect of REI. I want to grow a successful construction company that investors love to work with. So with that being said, if you could mold your own general contractor what's the most important qualities to you?

It's no mystery that every investor has dealt with a bad contractor. Much like property managers and real estate agents, many investors feel that there is a shortage of people in those professions that are actually good. I was raised around the trades and absolutely love the construction aspect of REI. I want to grow a successful construction company that investors love to work with. So with that being said, if you could mold your own general contractor what's the most important qualities to you?

@Sidney Watkins I live here in Cleveland and I do know that most of the 44120 area code is made up of D class neighborhoods with a few good streets with longtime owner occupants who’ve maintained their properties pretty well. With that being said depending on the exact location of the property in question it might not even be a good deal. Some of the properties here you couldn’t give to me for free. Between violations, back taxes, and the overall damage to some of these properties, the stress and problems that come with a venture like that is for the very experienced investor because the margin is so tight one mistake and you’ll be losing money on these properties. This is not to deter you just to inform you. This is a neighborhood you have to see it’s very hard to evaluate remotely.

@Will Barnard Great Idea. They suggested the PM position but maybe what they need is a good GC. I’ll shoot them the idea and go from there. Thanks again.

@Parker Eberhard All great questions I will get clear on that. What I’m getting from this is to basically just be the GC if that works for them, I’ll talk it over and see what they say. Thanks.

@Jad Boudiab Yes I remember and I still have you at the top of my list when I start investing myself. Thanks for initially reaching out and speaking with me, look forward to us working together in the future.

@Greg Dickerson also is there a resource for solid CM contracts or should I reach out to an attorney for drafting something like that?

@Greg Dickerson I am registered, bonded, and insured with the City of Cleveland and 3 surrounding suburbs already. I have been doing small scale renovations for a few years. Like kitchen and bath remodels and a handful of whole house updates nothing too major though mostly cosmetic add a plug here or there. Me and my team came up learning together so managing them is easy, having to manage other established contractors who will most likely be older than me is where I’m not confident. And I was thinking 10% that’s what I’ve been seeing a lot in rehabs under 100k. Thanks for the advice.

I’ve been asked by a few real estate investors to consider doing some project managing for their renovation projects. I’m considering establishing and systematizing a project management firm for this specific niche, working with residential and small multi family investors who need someone to oversee the renovation process. I have the necessary field experience from being a contractor to perform very well but not so much in terms of operating this type of business. What is the typical fee structure? What kind of responsibilities besides the norm of managing subs and schedules? Any ideas, insight, or suggestions on where to begin or where to get the proper knowledge is helpful and greatly appreciated.

My market is Southeast Cleveland and surrounding suburbs (Slavic Village, Lee-Harvard, Garfield Heights, Maple Heights, etc.) I am looking to network with some good contractors doing flips and some remodels and tenant turnovers. If you are investing in these neighborhoods what contractors are you using? I am a contractor myself so I don’t want to steal your rockstar contractor, just strictly want to network and maybe learn something from them.