Best Practices for Hiring a contractor

[James Cox]

Ive done done two flops.  1st one, I hired the wrong contractor, myself.  2nd I hired the wrong contractor, wasn’t at the property enough, our contracts were terrible, bad communication, we gave way too much money upfront...you get the picture. I learned real fast why construction management is a lucrative profession.  Now I have another investment property that I’ll be holding, and my goal is to not work in it myself, despite my nature.  It’s kind of a personal test, to refine my management skills. I was hoping to get some best practices do’s and dont’s when it comes to hiring a contractor.  Micro details e.g. contractual language, interviewing techniques, really anything relevant is welcome too. Thanks!

[Michael Kiley]

Originally posted by @James Cox:

"Now I have another investment property that I’ll be holding, and my goal is to not work in it myself, despite my nature.  It’s kind of a personal test, to refine my management skills."

This has been my struggle for a very long time.  I'm passionate about the work but managing feels like a job so I usually follow my passion.

My advice to you is read Brandon Turner's "The Book on Managing Rental Properties" Chapter 12 deals with managing contractors. I also think that Paul Esajian's book "Real Estate Rehab Investing Bible" is great. It deals with the topic of management in great detail. I'd take lots of notes. Best of luck!