Ep45: Hiring General Contractors Do's and Don'ts For Your Passive Income Property - Marco Kozlowski
Big Fat Real Estate Checks
Marco Kozlowski
5 • 957 Ratings
🗓️ 21 December 2020
⏱️ 26 minutes
🧾️ Download transcript
Summary
General contractors can be difficult to find if you're investing in real estate. It takes money and time so it is important to hire someone who is skilled, experienced, and has a great work ethic. In this episode, Marco and his co-hosts discuss why it is important for some investors to hire General Contractors for their passive income properties, the things that you should be putting in place, and knowing who you're dealing with.
WHAT YOU’LL LEARN FROM THIS EPISODE
- Roles of General Contractors for your real estate business
- Common questions that you should be asking to General Contractors before hiring them
- Why it is important to hire a REGISTERED and LICENSED General Contractors
- How to get referrals if you don't know anyone in the area or state
- Things to look for in a contract or agreement
- Importance of putting the mode of payment, payment method and its timeline in a contract
- Common factors why contractors were unable to finish the contract or job
- How to protect your assets while contractors are doing the project
RESOURCES FROM THIS EPISODE
Click here for the free quick start course "Get Deals By Tuesday" Masterclass.
CONNECT WITH US
- Email: [email protected]
- Website: https://marcokozlowski.com
- Facebook: https://www.facebook.com/realmarcokozlowski/
- Instagram: https://www.instagram.com/marco.kozlowski/
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Do you want to work at a discount? |
| 0:03.0 | You want good quality work and you want to have someone that's loyal and reliable. |
| 0:06.3 | There's a great value to loyalty and there's a great value to them being there when you need them. Very valuable. Very valuable. |
| 0:14.3 | Welcome to the big fat real estate checks podcast with Marco Kuzlowski where we help |
| 0:22.1 | investors like you get the knowledge and skills you need to replace your J-O-B with passive cash flow for life. |
| 0:30.0 | Hey Marco here, I really wanted to share with you our earlier |
| 0:34.2 | podcast that we created. Now our mics were not the best but the content was |
| 0:39.4 | really strong and I know you will learn a lot. We had an absolute blast recording this and I know you're |
| 0:46.8 | absolutely going to love it as much as we loved recording it. This extremely content-rich |
| 0:51.9 | information will not only give you the edge in your real estate investing business, but in everyday life. |
| 0:58.0 | Enjoy. |
| 1:01.0 | So welcome everyone. We're here talking about general contractors and we're going to go over a punch list of things that you should be looking out for, things that you should put in place before you hire a general contractor and make sure you protect your |
| 1:14.3 | assets whenever you get a contractor or a person that's going to be working on your shit on your |
| 1:20.9 | asset and make sure that you do everything properly. |
| 1:24.0 | Now Frank you've gone through a major rehab on a hotel. |
| 1:27.0 | I'm gotten through a few. |
| 1:29.0 | You have a horror story, I have horror stories and let's talk about those. |
| 1:32.0 | Let's talk about those. |
| 1:33.0 | Let's talk a boot, the, let's talk a boot, the process, |
| 1:38.0 | boot the process, a, on how to, as a Canadian, because we are docile as a group as a bunch we don't like |
| 1:46.4 | confrontation we're sorry right things are not docile at all they're very |
| 1:50.8 | aggressive creatures yes very aggressive and aggressive and they have ginger hair |
... |
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