All Forum Posts by: Ian Checketts

@Julian Romo let's get on call and we can chat more.

@Julian Romo Let's connect I'm always happy to help

@Andrew Powers thank you! Its definitely a cool approach but sometimes hard to find a duplex in the right neighborhood!

@Evan Polaski totally agree, you have to manage. I think so many people struggle because they don't realize they have manage manage manage! It's very time consumming. We need to anticipate the time required to manage the projects we take on.

@Bonnie Low I totally feel your frustrations!! Lots and lots of plans, documents, scopes, everything to make sure they get it right!

Communication: As most of you know this is the most important part of any business. If you can’t communicate properly you are likely never going to accomplish the task you are working towards.

1. Walk the property with your contractor explaining what you want done, have them explain back what you are expecting. Then have them provide a detailed quote stating the cost for each scope of work.
2. Provide a scope of work: this is best prior to walk through, but you may need to talk things out with the contractors. The scope of work needs to be a detailed document explaining everything; the work to be done in detail, how the work is to be done, the hours the contractors work, how they are paid, the insurance and licensing they need to perform the work and so much more! This contract will vary based on the amount of work to be done, but no matter what put everything in writing to ensure you both agree and have it documented for when it comes time to pay.
3. Provide detailed floor plans, elevations, and other necessary construction documents. A simple floor plan can save so much money to make sure everyone knows exactly what you are doing. This is also the legal binding document holding them to the work you contracted them to do. This is well worth the cost and effort, whether you pay a draftsman or simply draw it up yourself, I promise you will save yourself so many problems.

@Ronald Rohde thanks Ronald. You definitely have to be flexible

@Kyle Douglas good luck out there Kyle!

@Joe Coon I think this could be a great opportunity, may be worth trying to put more than one to maximize the use. Also you could probably have a lot tax savings opportunities by having this rental on a business property.

@Jonathan R McLaughlin sounds like you have it dialed in. I would say create some redundancies for checks to ensure what you want is what they are building. With that said set some expectations for how things will be communicated. This can be weekly meetings, good drawings and scopes. Communicate like crazy,but make sure they understand in the beginning so they don't feel harassed.