#294 - Ask These Questions Before Hiring a Contractor!
Real Estate Investing with Coach Carson
Chad Carson
4.9 • 613 Ratings
🗓️ 12 June 2023
⏱️ 58 minutes
🧾️ Download transcript
Summary
Episode #294 - Special guest Dawn, shares her expert strategies and insights on how to hire the right contractors for your rental properties. Discover how to vet contractors, make informed decisions between hiring a general contractor or going the DIY route. Finally be inspired by Dawn's remarkable $1 million equity gain from ONE property deal.
📑COMPANION ARTICLE/SHOW NOTES:
https://www.coachcarson.com/hiregoodcontractors/
Stay connected with Dawn Matze:
Instagram: https://www.instagram.com/womanbuilderdawn/
Facebook: https://www.facebook.com/dawn.matze/
Website: https://womanbuilder.com
Links:
We're moving to Spain! (and living off our rental income while abroad): https://youtu.be/AHX5pieCrpM
How We're Living Abroad for FREE (International House Hacking🏠✈️): https://youtu.be/jXV7rRw5ksM
🎬 AUDIO TIMESTAMPS:
0:00 - Episode sneak preview
3:08 - Behind the scenes
5:02 - Buying 1st piece of land
9:40 - 1 woman surrounded by 1000 men
11:42 - Male to female ratio in contracting world
13:49 - Hiring contractors as a newbie
17:35 - Insurance
22:25 - How to find contractors
28:40 - DIY vs. hiring
31:06 - Estimating repair costs
46:25 - Turning a duplex into a triplex
50:26 - $1million+ in net worth
53:29 - Reach out to Dawn
______________________
🧰MY FAVORITE REAL ESTATE & MONEY TOOLS:
- Deal Machine - software to help you buy more real estate deals https://www.coachcarson.com/dealmachine
__________
💰CREATIVE FINANCING COURSE🏘️Learn to finance your deals successfully, even with high interest rates. My online course teaches you how to use non-traditional funding sources for real estate, like private money, self-directed retirement accounts, seller financing, lease options, subject-to, and more. Includes paperwork!
https://coachcarson.com/creativefinancing
__________
🎧SUBSCRIBE to the podcast for more episodes about how to achieve financial independence and do what matters using real estate investing! https://coachcarson.com/podcast
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▶️WATCH my YouTube channel - Coach Carson TV - for tutorials, tips, strategies, and interviews https://www.youtube.com/user/CoachChadCarson?sub_confirmation=1
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📋 GET MY FREE REAL ESTATE INVESTOR TOOLKIT https://coachcarson.com/reitoolkit
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FOLLOW ME ON INSTAGRAM 📸 https://www.instagram.com/coachcarson1/
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READ MY BOOK ON RETIRING EARLY 📚 https://www.coachcarson.com/retirementbook
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👋👋 SAY HI ON SOCIAL https://www.facebook.com/coachchadcarson/ https://twitter.com/CoachChadCarson
Transcript
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| 0:00.0 | Here's where I find my contractors. |
| 0:03.2 | Drive-by other construction sites. |
| 0:05.6 | That's my favorite, really. |
| 0:07.2 | I drive by, I get out of my car, I start to meet people, you know, ask for the neighbors |
| 0:12.9 | people, anybody with somebody that's pulling out a skill saw and, you know, in their front |
| 0:19.1 | yard, ask them who they're using and how, how, how, what their |
| 0:22.9 | experience is like. Welcome to the podcast, real estate investing with Coach Carson. I'm your |
| 0:35.3 | host, Chad Carson. You can also call me coach. |
| 0:44.1 | And this is a show to help you build a profitable and passive rental property business so you can get out of the financial grind and do more of what matters. |
| 0:48.6 | Whether you're a first time listener or a long time listener, thank you for being back for another episode. |
| 0:54.4 | The title of this episode is Insider Tips to find reliable contractors for your rental properties. |
| 0:56.8 | This is an interview with Dawn Macy. |
| 1:00.9 | Dawn is a veteran of 30 years as a general contractor out in California. |
| 1:04.2 | She's also an investor herself, so she owns her own rental properties. |
| 1:07.0 | She tells us the story of how she got into the contracting business. |
| 1:08.7 | Both her parents were in the trade. |
| 1:45.2 | Then she got into a business for 30 years where she was basically the only woman in the room many, many times. She talked about that experience. I took a super course in L.A. over the weekend, like three day, and then they throw you into the test. It was like me in a gymnasium of a thousand men. And I'm like, hmm, am I in the right place? Oh, yeah, I'm in the right place. And then I picked her brain on something that she had to do on a day-to-day basis, which is hiring reliable contractors. And I especially wanted to get it from the perspective of those of us who are investors who are not experienced contractors. He comes prepared. He's got a business card or some kind of contact information. He actually has a location where his home office or something, and he actually can give you a |
| 1:52.5 | typed out contract. If you don't know how the trade works, if you don't know all the lingo |
| 1:58.1 | and the paperwork or how the steps work, how do you find those contractors? How do you vet them? How do you know that they're actually going to do a job for you? Do they have a license? People miss this all the time. I'm going to get this guy, the cheap guy, you think he's cheap, without the license. So do they have a license? And is that license in their name? |
| 2:18.0 | And how do you work with them in a way that makes a profit for you as an investor? And then |
| 2:21.3 | avoids a lot of the big hassles and the big costs that you hear about when some people do |
| 2:25.1 | major remodel projects. Please get three bids on everything. Dig deeper. Get two more bids before |
... |
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