People are the most valuable currency. Through my experiments I've learned a thing or two about constructing a winning team. After years of trial and error, I've identified the key traits that separate the weak from the elite, the A players from the rest of the pack. This information can be used to help you assemble a crew of contractors who operate with integrity and precision while keeping costs inline. Finding loyal forces who align with your vision isn’t easy. This is what I look for.

Focus on Solutions, Not Problems

Some contractors have a problem for every solution, while others provide solutions to every problem.

The best contractors I’ve encountered always focus on solutions rather than problems. When issues inevitably arise during a flip, they don’t tell you why you can’t do things, how expensive things will be and what other contractors messed up in the process. Instead, they analyze how to fix it and prevent it in the future. I buy deals that have problems and fix those problems. Pointing out the obvious is not a value add. Working with solution-oriented contractors who approach setbacks with an open mind helps the project move along as well as my mental peace tremendously. My favorite contractors view us as partners working toward shared goals. They see the relationship as a long-term mutual benefit, and they look out for my best interests knowing that once we come to an agreement of fair exchange it’s a win for both of us. When I win, they win. We together win.

Offer Creative Solutions

Innovative contractors provide creative ideas to solve problems and enhance projects. When I explain what I want to achieve, they brainstorm outside the box yet practical solutions that can be done on time and on budget. I've been amazed at the suggestions contractors have provided me. There are many solutions that I would never have thought of alone. We were doing this huge project and found a bad beam in the ceiling. It rotted, causing it to break through the drywall. 3 contractors told me they would have to cut out all the drywall, take it out and replace the entire beam. This could be done on time but not on budget. After having another contractor inspect it, he said it was just the end of the beam that sustained some water damage. He offered a solution to just brace this beam with some newer smaller sections against the existing against framing, which was in good condition to ensure it was safe. This saved us on materials, labor, and time. Finding ethical creative solutions allows me to continue to learn more and renovate properties in new and exciting ways.

Stay Calm Under Pressure

Renovation projects often involve unexpected issues and demanding timelines. Levelheaded contractors who perform under pressure can take the pressure off you when renovating. A-players handle stressful situations and focus on the work that needs done. This rational approach gives me confidence that we will overcome the inevitable obstacles.

Honest and Transparent

I need honesty and transparency at all times from my people. Trust is critical. Ethical contractors provide realistic time and budget estimates, report issues immediately, and charge fair prices. If something seems off, I question it. Good contractors don't hide problems or overpromise to win a job. Open communication allows us to make informed decisions and prevent misunderstandings. Over time this builds trust.

Take Accountability

In business, mistakes happen. Accountability is paramount. In my company we say “Mistakes are accepted as long as they are owned”. The contractors I work with repeatedly take accountability for their work. If mistakes happen, they own up to it rather than make excuses or pass blame. When I was a boy, my father told me, “If a job is worth doing, its worth doing right”. Many people who value their reputations feel the same. If you can stand behind your workmanship and make things right if something is unsatisfactory it builds trust and goodwill. I appreciate people who hold themselves to high standards, who don’t blame or complain and don't cut corners. Mistakes are accepted as long as they are owned.

Offer Reliable Communication

Professionals don’t hesitate to pick up the phone when moneys on the line, communication is one of the fastest ways to identify whos about it and whos not. I want contractors who respond promptly to calls, emails, and texts. They keep me updated on progress and quickly notify me of any changes. Reliable communication enables us to coordinate and handle problems before they spiral. A tip on this, if someone contacts you and you’re unable to respond, message them back with an eta of when they can expect a call back.

Bring Positive Energy

Flipping houses is a lot of work and at its nature has problems. That’s why we as flippers buy these projects, to capitalize on the margin between the present condition and future condition. I love contractors who brighten the job site with positive energy. Enthusiasm is contagious and uplifts everyone it touches. Positivity also translates into greater creativity, productivity, and fulfillment. Doing work we are proud of. I find that surrounding myself with optimistic people makes work more enjoyable.

As a real estate entrepreneur, carefully choose your team - they determine what you can accomplish because this game is not one I recommend playing alone. I prioritize contractors who embody the mindsets and traits above. Calling more contractors, asking for more referrals, going to more local events and networking with other investors who have these contacts has proved its worth to me to find the professionals that align with what I value. People are the most valuable currency to me and I’ve found it worthwhile to put the effort in to find long term people I can play long term games with.

Cleveland, Ohio

4 Votes