Newer Investor looking to network and find local contractors

[Michael Hutchinson]

Hi everyone! New to this forum and looking to network a bit. I live in Columbus, OH, and own a home and a rental. A bit about me, i’m a Commercial Banking Portfolio Manager by day where I manage of portfolio senior debt for companies in the middle market space. I’ve financed several landmarks in the area and have a lot of experience structuring larger ($5M-$50M) debt deals, acquisitions, balance sheet recaps, etc. 

I’m newer to the real estate game as I just bought my first property with a business partner and we plan to rehab, hold for five years, and sell and keep rolling into bigger deals. 

I’m looking for contractors and locals to network. I’m mainly looking for contractors wanting to do rehab work for fair prices. lastly, I want to network with more experienced real estate professionals. I’d be happy to share my knowledge for yours anytime!

I currently am about to begin rehabbing my rental, would love tips, pointers, and recommendations for local contractors in the area. 

Thanks again!

[Austin Steed]

@Michael Hutchinson

I have no problem sharing my GCs and subs with you. 

I've seen in my own rehabs that it can be better if you hire subs as they are usually cheaper. The GC's that I've worked with on the 3 units we rehabbed in 2019 I had my GC itemize the list of work he would do and if my partner and I thought we could have a sub do it cheaper we would just take it off the list. 

Being local allows you to do this. For example, we went ultra cheap on a sub and he was doing very poor drywall work
(makes sense).We had to find someone else mid job. Letting a contractor go wasn't easy per say but it had to be done, as I'm sure many other local investors understand this too. The fact that we are local to Columbus and stooped by the property frequently made this possible. We found new inexpensive drywall contractors that did a great job.

 OOS investors aren't as fortunate and should probably just stick with a dependable timely GC... that comes at a premium though and isn't always easy to find.  

My advice.. If your time allows it hire subs where you can and save some money!