All Forum Posts by: Patrick T.

Hi Mark,

John & Ali make good points. From a contractors point of view, I haven't yet seen a management company that can keep truly good contractors working for them AND profit from their rehab activities. Qualified contractors typically work for themselves and would rather deal directly with the property owner. They might give it a shot with the PM's, but in my experience it doesn't last.

In addition, there are plenty of contractors who want to build ongoing relationships with property owners. It's a good opportunity to build your team.

Hi Joseph,

I know it sounds basic, but all of the incentives and contractual details really won't do what you want if you don't have a contractor who is experienced in that type of work, and who has a record of performance. That experience is what can save you $$ on the budget and insure a good job.

To find the right person it is so important to establish the relationship before trying to enforce terms.

It is best to find a contractor through referral, but at a minimum one who has a list of testimonials from clients for whom he did what you want him to do. Talk to his past clients...but also establish good communication with him. A contractor who has good relationships with clients and suppliers, will bring commitment and reliability to the table. You can't replace that with contractual terms. Though a good contract is important for both of you.

If you find a contractor with whom you can form a good relationship, you may find that you don't have to worry about enforcing contract terms so much. It's not a public works contract. A quote should work OK, and consider a penalty for going past the completion date, if you must. If you make it too complicated you could run a good contractor off or cause him/her to adjust prices up to cover contingencies.

It is important to keep it grounded and maintain the relationship. Good contracting is based on character as well as experience. Find both and you can relax and enjoy. Good luck!

Gerald: The market is picking up. The seasoned agents I know are doing very well.

Kenneth: I grew up in the Los Angeles area and spent a number of years in the SF Bay Area. I really needed to get out. I just love plowing snow and sub freezing temps - I'm crazy, I know, but it's beautiful here. We've lived here since 1999.

Thanks to you both for the guidance.

Thanks Kimo!

Hello all. This is very impressive!

My family was in real estate for many years and I was an active Realtor in Spokane, WA for about 6 years. I have been a residential remodeling contractor for 40+ years. I really like construction as a lifestyle, but need to create income for retirement and to build some wealth. The money is tied up in home and business, so I'm looking to find ways to leverage my contracting skills to aquire property, as well as other strategies.

I work with a number of investors now on their properties and I've managed rentals for owners, so I'm familiar with that area. I just want to learn how to put the whole package together and hopefully find some opportunities.

Of course I would be happy to make connections with investors who need an experienced contractor too, but I understand the rules about where to talk about that.

Thanks for a great website and group of people. I'm really looking forward.

Brian is right. And in some states a handyman doesn't need a license. Do yurself a huge favor and use licensed people who have some years of experience and good referrals. Pick one who you feel sure will do what's best for you whether you are watching or not. One who can document the work for you with pictures is a good sign. They can be a strong part of yur team.

I'm a GC myself. If you're doing anything that would require a permit, you really should take it seriously. Owners can usually pull their own for most types of work. Work with the planner and inspector. They make sure you do things right, and tell you if you should hire someone. If you can't pull your own permit, there is usually a good reason (read "some danger").

This is your investment, and other peoples safety. You don't want anything to go wrong with either. And if the insurance company is looking for an out, owner DIY's with no inspections are are good grounds. Even if there is no claim, you are eternally responsible for that work, day & night.

Get some references if you need a contractor. There are lot's of resources. Hook up with one who you like (people really appreciate us when they know us). Watch them closely, learn what they actually do, and make this decision after you get some experience.