Comments on: Tips for Real Estate Investors who Want a Successful Working Relationship with Contractors http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/ The Education and Mentor Group for Real Estate Investing Wed, 25 Apr 2012 19:34:45 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Handyman http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-793 Handyman Thu, 22 Apr 2010 09:53:44 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-793 Thank you for the sensible critique. Me & my neighbour were preparing to do some research about that. We got a good book on that matter from our local library and most books where not as influensive as your information. I am very glad to see such information! Thank you for the sensible critique. Me & my neighbour were preparing to do some research about that. We got a good book on that matter from our local library and most books where not as influensive as your information. I am very glad to see such information!

]]> By: real estate http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-792 real estate Wed, 10 Feb 2010 08:35:02 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-792 Thanks, I like the your suggestions for Real Estate Investors who Want a Successful Working Relationship with Contractors, This is very helpful keep adding. Thanks, I like the your suggestions for Real Estate Investors who Want a Successful Working Relationship with Contractors, This is very helpful keep adding.

]]> By: Jerry Plake http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-791 Jerry Plake Wed, 03 Feb 2010 03:30:57 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-791 Natalie - I read your article and thought it was ver well done and comprehensive. You touched on the many aspects of contracting that members need to understand. Cris also did a good job on the radio today (2/2/10) explaining the key points. I printed it off for my personal reference to remind me also how to give our members the best service we possibly can. Jerry Plake/ Start2Finish Please visit our website to find out more about our services and to see before and after photos. Natalie – I read your article and thought it was ver well done and comprehensive. You touched on the many aspects of contracting that members need to understand. Cris also did a good job on the radio today (2/2/10) explaining the key points. I printed it off for my personal reference to remind me also how to give our members the best service we possibly can. Jerry Plake/ Start2Finish Please visit our website to find out more about our services and to see before and after photos.

]]> By: Danny Engram http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-790 Danny Engram Tue, 02 Feb 2010 22:10:38 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-790 As a contractor,if we find ourselves in that type of position we have reserves of smaller subs that we have worked with in the past that will come through for us. If I put in an estimate for a project,I usually know how we are going to have to man it based on final schedule and negotiations. We are very honest with our clients when they ask questions based on schedule start and completion dates. If you want to start on a Wednesday but we can't start until Monday,I tell you then we figure it out from there. We also provide a no fail zone. This means that if we fail to complete a project according to the time schedule that we agreed upon then the owner recovers liquidated damages to the tune of 50-100.00 per day that the job goes over schedule. Just another incentive we like to offer to stand out a little bit. Take care, As a contractor,if we find ourselves in that type of position we have reserves of smaller subs that we have worked with in the past that will come through for us. If I put in an estimate for a project,I usually know how we are going to have to man it based on final schedule and negotiations.
We are very honest with our clients when they ask questions based on schedule start and completion dates. If you want to start on a Wednesday but we can’t start until Monday,I tell you then we figure it out from there.
We also provide a no fail zone. This means that if we fail to complete a project according to the time schedule that we agreed upon then the owner recovers liquidated damages to the tune of 50-100.00 per day that the job goes over schedule. Just another incentive we like to offer to stand out a little bit.
Take care,

]]> By: Mark Lee http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-789 Mark Lee Tue, 02 Feb 2010 19:20:46 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-789 Typing via iPhone has not been my forte' Typing via iPhone has not been my forte’

]]> By: Mark Lee http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-788 Mark Lee Tue, 02 Feb 2010 19:19:18 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-788 I have been hearing that many of the best sub/scontractors are very busy. How do u find good ones that are not unmanageably extended. It seems that once they have a partcular backlog of work that they may have to use unfamiliar and untried extra resources. I have been hearing that many of the best sub/scontractors are very busy. How do u find good ones that are not unmanageably extended. It seems that once they have a partcular backlog of work that they may have to use unfamiliar and untried extra resources.

]]> By: Danny Engram http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-787 Danny Engram Tue, 02 Feb 2010 06:29:42 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-787 I agree whole heartedly as well. If we can ever be of any help please allow us. It's been a pleasure being associated with the club and some of its members. Good luck, Danny Engram DKL Contracting, LLC I agree whole heartedly as well.
If we can ever be of any help please allow us. It’s been a pleasure being associated with the club and some of its members.
Good luck,
Danny Engram
DKL Contracting, LLC

]]> By: Natalie http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-786 Natalie Tue, 02 Feb 2010 02:44:13 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-786 Thanks Chris, As with anything managing expectations on the front end is key to any good relationship. In the member area under downloads we also have a bid request tracking sheet, contract agreement and much more information! Natalie Thanks Chris,

As with anything managing expectations on the front end is key to any good relationship. In the member area under downloads we also have a bid request tracking sheet, contract agreement and much more information!

Natalie

]]> By: Chris Robinson http://www.lifestylesunlimited.com/tips_for_a_successful_working_relationship_with_contractors/#comment-785 Chris Robinson Mon, 01 Feb 2010 19:53:58 +0000 http://www.lifestylesunlimited.com/?p=7985#comment-785 Great Article Nat! We see way too many people out there that do not know how to correctly work with contractors. Real Estate investing is all about people and correctly dealing with those people on every level. Setting expectations up front is imperative. Know what you expect from the contractor and let them know your expectations as well. Written scopes of work are great to avoid any misunderstandings. Many people skip this step cuz they think that it shows distrust towards the contractor, but it is in everyone's interest to have this laid out in advance. I also want to reiterate the concept of "don't go cheap". I have too many stories from my previous investments before Lifestyles of times when I tried to save a few dollars by using unprofessional labor to get things done cheaply and it always costed me more in the long run. The old saying of "You get what you pay for" is exactly true in this business. Save yourself the headaches and find someone who is a turnkey provider and can handle the entire project with minimal involvement from you. CSR Great Article Nat!

We see way too many people out there that do not know how to correctly work with contractors. Real Estate investing is all about people and correctly dealing with those people on every level.

Setting expectations up front is imperative. Know what you expect from the contractor and let them know your expectations as well. Written scopes of work are great to avoid any misunderstandings. Many people skip this step cuz they think that it shows distrust towards the contractor, but it is in everyone’s interest to have this laid out in advance.

I also want to reiterate the concept of “don’t go cheap”. I have too many stories from my previous investments before Lifestyles of times when I tried to save a few dollars by using unprofessional labor to get things done cheaply and it always costed me more in the long run.

The old saying of “You get what you pay for” is exactly true in this business. Save yourself the headaches and find someone who is a turnkey provider and can handle the entire project with minimal involvement from you.

CSR

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