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Your Policy on Hiring Friends???
Though my years of hiring trades to work on my rental and friends/ family/ clients properties I have had it good and bad experiences. Property managers that over promise, work not fully completed to satisfaction, things not being installed correctly, etc. Again.... from professionals I haven't met and friends whom I know personally that run their own companies...
I am curious, what is your policy on hiring friends (whom own their own companies) to work on your properties? Do or Don't and why?
My policy is to hire them for small projects, it's an easy and somewhat affordable way to tell if you really have a friend or not! If they are good at what they do, then that friendship can grow into a partnership.
!00% agree with Erica Calella. The best advice I've heard is to hire people for small jobs in order to vet them. You increase the size of the work if you like the results or find someone else if they do a poor job.
Quote from @Brandon Elliott:
Though my years of hiring trades to work on my rental and friends/ family/ clients properties I have had it good and bad experiences. Property managers that over promise, work not fully completed to satisfaction, things not being installed correctly, etc. Again.... from professionals I haven't met and friends whom I know personally that run their own companies...
I am curious, what is your policy on hiring friends (whom own their own companies) to work on your properties? Do or Don't and why?
Never again, apart from friends who are friends because I met them through hiring their company.
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Hard no.
No friends or family, outside of my older brother.
Quote from @Erica Calella:
My policy is to hire them for small projects, it's an easy and somewhat affordable way to tell if you really have a friend or not! If they are good at what they do, then that friendship can grow into a partnership.
I completely agree!
It's still worth noting as well that just because you're friends with someone doesn't mean you should skip out on any contracts or paperwork either to keep everyone happy and protected
Quote from @Jon K.:
Quote from @Brandon Elliott:
Though my years of hiring trades to work on my rental and friends/ family/ clients properties I have had it good and bad experiences. Property managers that over promise, work not fully completed to satisfaction, things not being installed correctly, etc. Again.... from professionals I haven't met and friends whom I know personally that run their own companies...
I am curious, what is your policy on hiring friends (whom own their own companies) to work on your properties? Do or Don't and why?
Never again, apart from friends who are friends because I met them through hiring their company.
What's the story? Im curious!
And thanks for your input!
Quote from @Alyssa Wright:
Quote from @Erica Calella:
My policy is to hire them for small projects, it's an easy and somewhat affordable way to tell if you really have a friend or not! If they are good at what they do, then that friendship can grow into a partnership.
I completely agree!
It's still worth noting as well that just because you're friends with someone doesn't mean you should skip out on any contracts or paperwork either to keep everyone happy and protected
Agreed!
Thanks for sharing your thoughts!
Quote from @V.G Jason:
Hard no.
No friends or family, outside of my older brother.
Appreciate your thoughts here! Sounds like you and your brother are close!
What is the story here? I am curious about how you've come to only trust your brother?
Quote from @Erica Calella:
My policy is to hire them for small projects, it's an easy and somewhat affordable way to tell if you really have a friend or not! If they are good at what they do, then that friendship can grow into a partnership.
This is spoken like a true vet! Thanks for your thoughts Erica!
Quote from @Christian Padilla:
!00% agree with Erica Calella. The best advice I've heard is to hire people for small jobs in order to vet them. You increase the size of the work if you like the results or find someone else if they do a poor job.
Totally agree!
Quote from @Brandon Elliott:
Though my years of hiring trades to work on my rental and friends/ family/ clients properties I have had it good and bad experiences. Property managers that over promise, work not fully completed to satisfaction, things not being installed correctly, etc. Again.... from professionals I haven't met and friends whom I know personally that run their own companies...
I am curious, what is your policy on hiring friends (whom own their own companies) to work on your properties? Do or Don't and why?
Are we talking drinking friends or people you trust and have rapport with? All depends on the relationship, though I did hire a cigar / drinking buddy to do some contract work but this was only after I helped him sheetrock some walls and learned what he was capable of.
@Brandon Elliott I’ve learned the hard way about doing business with friends. Ended up in a lawsuit with one and had to get the bank to have their attorneys forcibly remove another from a mortgage due to total negligence and abandoning a project. (The second was a restaurant and its building that the partner just disappeared and abandoned the whole shebang and left us who were supposed to be silent money partners to run the business. This had a very expensive and poor ending for me).
I’ve become good friends with my primary contractor during our 20 year relationship but we primarily stick to business. I value his opinion and ask it frequently because he has about 35 years of experience in contracting and management.
For all people I’m hiring we start with small projects and even after they’ve established themselves to me I continue to bid out the jobs to ensure best practices and best prices.
I don’t expect any favors or pricing advantage because we pay competitive wages but if someone else is committed to doing a job as good and cheaper then the bottom line is I’m still trying to run my business and make a profit.
Quote from @Brandon Elliott:
Though my years of hiring trades to work on my rental and friends/ family/ clients properties I have had it good and bad experiences. Property managers that over promise, work not fully completed to satisfaction, things not being installed correctly, etc. Again.... from professionals I haven't met and friends whom I know personally that run their own companies...
I am curious, what is your policy on hiring friends (whom own their own companies) to work on your properties? Do or Don't and why?
Do not do it. It typically never ends well.
