Hiring my first general contractor

[Ayman Elmasik]

Hello BP fellows,

I'm a new investor in Houston Texas and now have my first fix/flip deal under contract.

Couple of questions I have and I'm sure this is the right place to get answers for.

For general contracts

- I'm sure all contracts generated by the GC will cover them very well, what about he investor's side?

+ What are the "must haves" in this contracts to protect my interest? (penalties, schedule, release of lien...?)

+ What clauses that I should never accept?

- When a GC should be replaced? is it only delays in schedule?

- I have been hearing over and over again that referral is a key factor in selecting a GC, Can anyone suggest a good general contractor (investor friendly) in Houston? someone you have done at least 5 flips with (I already have tow that are lined to make an estimate)

Now for selling the house (ahead of myself I know)

+ I found a listing agent who can do full service for 1%, what about the realtor buyer's side (can I make his/her commission 2%) ? the house will be in the 340K range ARV

Thanks in advance for taking the time to read,