All Forum Posts by: David Billings

I host a meetup in Kitsap every third Thursday from 5:00 PM to 6:30 PM in Silverdale at Fulerz Cafe. We get a great mix of new investors, experienced investors, lenders, contractors, brokers etc. Mastermind and networking focused. No pitching systems or big sales but always mention any deals you have or any kind of need. No charge, but bring business cards to pass around if you have them. My starter mastermind topic for tomorrow evening 4/18 will be attracting attention to your business VS the competition. Hope to see some new faces tomorrow.

I host a meetup in Kitsap every third Thursday from 5:00 PM to 6:30 PM in Silverdale at Fulerz Cafe.  We get a great mix of new investors, experienced investors, lenders, contractors, brokers etc.  Mastermind and networking focused.  No pitching systems or big sales but always mention any deals you have or any kind of need.  No charge, but bring business cards to pass around if you have them.  My starter mastermind topic for tomorrow evening 4/18 will be attracting attention to your business VS the competition.  No charge, I cover the venue fee & encourage you to buy a coffee from our host if you are thirsty.  Hope to see some new faces tomorrow.

Thanks Manolo D.     I think you're right on target.  I'm going to write what I'm after myself.

You're also right that it's all about having the Foreman on board and the rest will follow.

Thanks for the reply.  Good points.

Uh Oh, crickets chirping for the only replies.  This must be a harder topic to find info. on than I thought?

I'm looking for some great articles or blogs for my Project Coordinators to use in training foreman, crew, and sub contractors about rehabbing with a flippers mindset.

Can anyone point me to some good materials on this subject? or even add some good comments below in this thread if you have some.

I'm an experienced full time investor with a lot of flips, wholesales, etc. under my belt.   With a growing company, my role is CEO these days so I'm building a training set of materials for my Project Coordinators and Construction crews since I'm not on site much at all these days to give this type of guidance in person to our crews.

I'm finding a lot of good info. on Bigger Pockets and elsewhere about finding and hiring good contractors, managing contracts and scope of work etc.

What I'm not finding are articles about the economical & profit focused mind set need for good day to day decision making by the crews and foreman on site.  Topics like:

• Just "how deep do you dig" looking for problems that may or may not be there to fix?
• Day to day rehab decisions based on weather the market will pay enough for that upgrade for it to add value above cost VS what  home inspector may say "well that's fine, safe, & legal to leave that, but it would be better to upgrade it to something more modern."
• How to talk to inspectors to find the "least expensive, legal, and appropriate" fix to a problem VS "the best and very likely most expensive" way to fix something
• Same thing with Subs.  How to talk to sub contractors to find the "least expensive, legal, safe, and appropriate" fix to a problem VS "the best and likely most expensive" way to fix something.
• Where is speed the priority to haul buns and get things done fast with hold costs in mind and were do you need to slow down to get the finish work right so it shows quality attention to detail and doesn't have to be fixed or re-done later?

Having a good scope of work and proper monitoring of contractors following the plan and staying on budget is essential but only provides the outline for the expected not the daily unexpected that's the reality of rehabbing. I know my Project Coordinator understands all of this well.   Things still come up day to day on sight with Foreman, crew leads, and even anyone on the crew showing that the entire team needs to "get it" all day every day.  Situations come up daily when the Project Coordinator and CEO aren't around to make instant on the spot decisions.  I've found some crew members "get it" when it comes to the daily mindset needed for rehabbing for a fix and flipper VS rehabbing for a homeowner with deep pockets that will be thrilled to hear.   "Oh, you know what would look really good there.  We could add this whole thing there.  It would be expensive and way better than what you have but man would it look good."    As flippers, we only want to hear those ideas when the "cool idea" is something that the comps and standard of the neighborhood show us proof that we can depend on that upgrade earning us its cost, plus profit back."  

Who can point me to some good materials on these subject so I can get some good training in the hands of my crew?

I'm sure there's a lot more wisdom out there that what I can write up on my own so I'd love to leverage that.

Welcome Jason

Lots and lots of knowledge on her so pick a focus and direction and dig in.  Happy investing!

Good advice from Jr. T and Karen Barber.  Thanks.  Hmmm, I hadn't thought about the idea of using an agent.  That bears some more though.  I know having an agent as an acquisitions manager adds some layers of complication.  The would need to disclose clearly every time that they were an agent.  I believe they would also have some additional fiduciary duties to the sellers, even if they were operating as contract negotiator in a private sale and not representing the seller or buyer as an agent.

Excellent Advice Terry.  Thanks!    I've got some great people on my team but none of them are a great fit of this particular position.  It does give me some ideas about how to potential bring someone on gradually though for better assessment.  Thanks for string that part of my brain.  

I also like your advice on the questions. Handing them scenarios and seeing how they would handle them.  I've done a lot of hiring in the past for this and other companies and and the most insightful answers to interview questions have almost always come from having someone role play or respond by explaining how they would handle a scenario related to the job.

Excellent Advice Thanks Terry!

Hmm, Not a lot if input out there on questions for Acquisition manager Huh?  :)

Chris Did you ever hire for that position. My team's grown to the point where I've set a goal at add a purchasing manager to my team. I have 3 VA's and a VA manager handling all of the initial calls from my marketing. The also tend and screen all my leads until they qualify financially and show proper motivation to be a good candidate for one of my buying / exit strategies. I have the right problem now that I have too many qualified leads to contact and follow up on considering my evening time with my family that's a top priority. I'm wondering if you made the hire, how it's going if you did and if anyone else has advice from adding a purchasing manager to their team?