Becoming a GC to help others

[Jeremiah Cotner]

I posted this in a couple of Facebook groups but wanted everyone's opinion here.  

I wanted to see if others have tried to start a contractor business. 

I am currently getting out of the LTR market since it's not for me (just didn't like it). I only had 3 LTRs. 

I am more into rehabs, flips, and lending. Since I lost my job a few months back, I have started helping In-State, Out-Of-State and Out-Of-Country investors in the Little Rock area. I am acting as a project manager to ensure everyone is doing their job and money is moving in the correct way. I am a third party who overseas the contractor and helps the investor(s) with any questions they have. So for with my rehabs and others, I have helped on over $400k with of projects. I really enjoy the aspect of helping investors since I have lost money in the past when investing out of state. 

I am applying for my general contractor's license for Arkansas to help put the correct people together. One of my passions is building teams and putting the right people in the correct position so that everyone succeeds. 

I am trying to determine the best way to make my passion into a business. Has anyone ever built a contractor business or a business where you help connect others with the right people? What were the issues? I really enjoy what I currently do in Little Rock and think there is a need for this. Thanks for any advice you can give me.

[Greg Dickerson]

Originally posted by @Jeremiah Cotner:

I posted this in a couple of Facebook groups but wanted everyone's opinion here.  

I wanted to see if others have tried to start a contractor business. 

I am currently getting out of the LTR market since it's not for me (just didn't like it). I only had 3 LTRs. 

I am more into rehabs, flips, and lending. Since I lost my job a few months back, I have started helping In-State, Out-Of-State and Out-Of-Country investors in the Little Rock area. I am acting as a project manager to ensure everyone is doing their job and money is moving in the correct way. I am a third party who overseas the contractor and helps the investor(s) with any questions they have. So for with my rehabs and others, I have helped on over $400k with of projects. I really enjoy the aspect of helping investors since I have lost money in the past when investing out of state. 

I am applying for my general contractor's license for Arkansas to help put the correct people together. One of my passions is building teams and putting the right people in the correct position so that everyone succeeds. 

I am trying to determine the best way to make my passion into a business. Has anyone ever built a contractor business or a business where you help connect others with the right people? What were the issues? I really enjoy what I currently do in Little Rock and think there is a need for this. Thanks for any advice you can give me.

 I started as a remodeling contractor working for investors just like your contempalting back in 1997. I built that into a $30 million company from scratch in 7 years then sold it. I used the profits to go on and do $250 million in real estate deals using my own cash while I built relationships with the investors I worked for and ended up doing another $500 million in deals with them. 

I have owned a couple of building companies over the years.It can be a great way to leverage your own deals and build relationships with future potential partners and investors as well. 

To be successful and profitable you need to educate yourself. You need to really know what you're doing. You must be extremely detailed oriented and organized and have the right team and sytems. You need to develop yourself a a leader delegator and motivator. 

Get these things right and you can scale very fast and make very good money while enjoying quality of life as well. Get it wrong and life and the business can be a nightmare.